KTFA:
Clare: Urgent... Al-Sudani directs to suspend work next Wednesday on the occasion of Ashura
7/15/2024
Prime Minister Mohammed Shia Al-Sudani directed the suspension of official work on Wednesday, July 17, 2024, in all ministries and government institutions, coinciding with the tenth of Muharram, the martyrdom of Imam Hussein, peace be upon him, on the day of Ashura.
The General Secretariat of the Council of Ministers said, a copy of which was received by {Euphrates News}, that the holiday came "based on the provisions of Article (1/First/C) of the Official Holidays Law (12 of 2024)."
The statement indicated that "the directive came during the Cabinet meeting in its twenty-ninth regular session, held on 4/14/2024." LINK
Clare: Harmonizing Iraq’s trade regime: A 20-year milestone achieved
11 July 2024 ITC News
Iraq accelerates its World Trade Organization (WTO) accession process by unifying tariff rates with Kurdistan region of Iraq.
For the past 20 years, Iraq’s trade has operated under a dual customs regime, with different tariff rates in Federal Iraq and Kurdistan Region of Iraq (KRI). This dual system has led to varying administrative and economic customs policies, creating complications for trade, and challenges in the way of ensuring a transparent and predictable business environment.
The process of Iraq’s journey to join theWTO, began in 2004 and recently gained new momentum. A key requirement for WTO membership is the implementation of consistent policies nationwide, including aligning tariff rates, customs procedures, and regulatory practices across all regions. The differences in tariff structures between Federal Iraq and the KRI have been seen as a barrier to achieving the necessary coherence and transparency for WTO accession.
Recognising this, Iraq decided to harmonise the two customs regimes in 2019. However, the implementation was delayed for several years. In 2024, with the support of the International Trade Centre (ITC) through the “Strengthening the Agriculture and Agri-Food Value Chain and Improving Trade Policy(SAAVI)” project funded by theEuropean Union, this harmonisation was finally undertaken.
As the first step, the tariff regime in Federal Iraq was updated to comply with the World Customs Organization’s Harmonised System Code of 2017. The process then extended to KRI, involving detailed reviews and multiple joint workshops, with customs offices from Baghdad, Erbil and ITC experts.
Together, they examined over 15,000 tariff lines to ensure compliance with international standards and to create a unified structure. The unified tariff framework was formally approved by the Ministry of Finance and published in the Official Iraqi Gazette on 5th February 2024 (No. 4758).
Acknowledging the efforts, Mr. Hakkam Anttar, Senior Manager, Customs Valuation Office, General Commission of Customs, said: “The ITC through the SAAVI Project,in coordination with The Ministry of Tradehas been providing expert technical support since the very beginning, in expediting the process of modernising and unifying Iraq’s Tariff structure based on 2017 Harmonized System. ITC, has played a vital role in developing an action plan with concepts and requirements.”
Resolving the dual customs regime issue marks a significant milestone in Iraq’s WTO accession process and underscores Iraq’s commitment to the multilateral trading system.
This achievement is part of a series of interventions undertaken by ITC to support the Government of Iraq, including substantial revisions to domestic reforms, alongside widespread capacity building and awareness-raising on WTO and trade policy.
About SAAVI:The “Strengthening the Agriculture and Agri-Food Value Chain and Improving Trade Policy’ (SAAVI) project, funded by theEuropean Union, focuses on the development and implementation of sector strategies for high-potential products, as well as on defining market-oriented policies to improve predictability and efficiency in the business environment. SAAVI also helps enhance Iraq’s trade policy and supports the country in its WTO accession process.LINK
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Courtesy of Dinar Guru: https://www.dinarguru.com/
Pimpy Article: "The stability of the exchange rate of the dinar against the dollar is real and firm" This is one of those big steps we have been looking forward to, which is stability of the currency. We've talked about these a billion times - the country...government...economy and currency has to be stable. Outside of a little back and forth with the government they seem to be doing pretty good everywhere else. Good job Iraq. They are now at a place in their country where the parallel market is not affecting the overall prices of their goods and services. Militia Man
"You're Going To See Something More Devastating Than 2000 or 2008" –
Mike Maloney: 7-12-2024
In this eye-opening video, Mike Maloney explores the troubling signs pointing towards an impending financial crisis that could surpass the devastations of 2000 and 2008.
As the US national debt races towards $35 trillion, he shows the convergence of alarming economic factors.
Learn how deficit spending, rising consumer debt, and skyrocketing inflation are shaping a perilous economic landscape. He also analyzes key indicators like trucking employment and real estate bubbles that signal an imminent recession.
Discover why this could be far worse than the Great Depression and what it means for your financial future.
We Have The Data Now: MASSIVE Recession Has JUST Been Confirmed
Atlantis Report: 7-15-2024
Over the past few months, economic analysts and experts have been sounding the alarm about a recession. There have been increasing concerns about economic instability, with these worries echoing in financial markets and boardrooms nationwide.
Now, a surge of data has confirmed what many have feared: the United States is on the verge of a recession. The state of retail sales has always been an indicator of economic well-being, and the most recent figures are concerning.
Retail sales in May were notably poor, worsened by significant downward adjustments to previous months' figures. This trend suggests that American consumers are facing significant challenges.
Large retailers such as Target, Kohl's, and McDonald's have all warned that there has been a notable shift in consumer behavior. These warnings are not just based on personal accounts; they are backed by solid data.
