The government approves the establishment of important projects, including an industrial city in Basra and a hospital in Baghdad , 9 MAY

  The government approves the establishment of important projects, including an industrial city in Basra and a hospital in Baghdad

5/8/2024

Prime Minister Muhammad Shiaa Al-Sudani chaired, this afternoon, Wednesday, the seventh meeting of the Supreme Committee for Reconstruction and Investment, during which it approved important projects.

The meeting witnessed, according to a statement from the Prime Minister’s Office, a copy of which {Al-Furat News} received, “discussing a number of investment opportunities in Baghdad and the governorates, in various sectors, and proceeding with a package of important projects that contribute to revitalizing the economy and providing many job opportunities for young people.”

- Approval of the Taji gas station investment project

 - Approval of a project to establish a solar energy project in Babylon Governorate

-Electricity linkage project between Iraq and the Kingdom of Saudi Arabia.

- Establishing a mental health and addiction treatment hospital in the Ghazaliya area in the capital, Baghdad.

- Approval of a project to establish a 400-bed hospital, on a section of the land of Al-Rashid Camp in the capital, Baghdad.

Approval of the Toyota project, which includes the establishment of an integrated complex that includes units for manufacturing vehicle accessories, spare parts warehouses, a rubber and plastics recycling center, a training and qualification center for Iraqi labor cadres, a vehicle pre-delivery inspection center (PDI), and a vehicle storage center.

In the industrial sector, a project was approved to establish an industrial city in Basra Governorate for the production of iron and steel, in partnership with the General Iron and Steel Company, as well as a project to produce flat float glass, and a project to produce glass bottles and jars.   LINK

DeepWoodz:  Yeeaaa,,,,hard to invest without a REER. (Real Effective Exchange Rate)

"RV UPDATE" BY TEXAS SNAKE, 9 MAY

Wed. 8 May Texas Snake

 “Well folks, a banker was provided with a specific date where he would have his trained exchange specialists in position to begin the currency exchanges.  This means a window of scheduling appointments will commence prior to having his staff being in position.  While he could not provide me the date he did indicate without any unforeseen issues that could delay it will occur this month. Well Folks, we may in fact enjoy the most memorable Mother’s Day in history. Say your prayers.”

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While being a member of the WTO is important. listing on the FOREX is much more critical to us waiting to exchange and with the various potential  valuations being suggested we will need to see if the RV rate is initially published on the front screen or the back screen for the CBI to allow for there to be a float upwards in value which IMO would be beneficial  to us to realize a greater value, but either way we would realize a gain over cost of acquisition.

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Texas Snake, [05/07/2024, 12:17:30 a. m.]:

My prayer is I have only begun to help, my goal is to offer alternatives on how to invest your funds so yiou never experience the fate of a lottery winner and be broke in aa couple of years.  Ideas you can suggest to your wealth manager to design an infinate banking program designed o meet your personal goals and objective and keep many future generations in positive financial circumstances.

Won't take long due to price of oil

Well My news is shared so will see everyone tomorrow, hopefully with some really good news, GOD Bless everyone.

https://dinarevaluation.blogspot.com/2024/05/rv-update-by-texas-snake-8-may.html

What US Bankers Never Told Us About Iraq's Banking System #iraqidinar BY SANDY INGRAM

IRAQ NEWS RECAP: Iraq’ Central Bank holds the Finance ministry responsibility for devaluating the Dinar, 9 MAY

 Iraq’ Central Bank holds the Finance ministry responsibility for devaluating the Dinar

Shafaq News / The Governor of the Central Bank of Iraq, Mustafa Ghaleb Mukhaif, on Sunday, said that the finance ministry holds the responsibility for lowering the value of dinar by a significant rate, considering the issue directly affected the Iraqi market.

"The Ministry of Finance requested to increase the the exchange rate to dinar against the dollar, which caused market turmoil, but still, the situation is still under control" he said in an interview on Al-Iraqiya channel.

He added, "In 2014, The World Bank had asked Iraq to raise the dollar exchange rate to 1500 dinars."

The governor concluded, "The high exchange rate has an unintended effect on people in poverty whom the Ministry of Finance is responsible for supporting them."

He called on the Ministry of Finance to "enhance the customs and border crossings to secure the more revenues.”  

Iraq’s central bank increased the sale price of U.S. dollars to banks and currency exchanges to 1,460 dinars, from 1,182 dinars, seeking to compensate for a decline in oil revenue due to low crude prices, the bank said on Saturday.

The central bank of Iraq said the key reason behind the dinar’s devaluation was to close the gap of widened 2021 budget inflation after a collapse in global oil prices, a major source of Iraq’s financial resources. For his part, the head of the State of Law Coalition, Nouri al-Maliki, warned on Sunday of the "serious catastrophic" repercussions threatening the state and society due to the devaluation of the local currency, demanding that the government have a role in protecting the citizen, which will result from this measure.

The devaluation decision came as a preemptive move to prevent “draining Iraq’s foreign reserves” and help government to secure public servants’ salaries, the bank said.

For its part, Nuri Al-Maliki, the former Iraqi PM said in a tweet that devaluating the Iraqi dinar must take into account the citizens’ economic situation, as this step would self-inflict destructive repercussions on economy. It would be catastrophic, if it is not accompanied with intervention from the government to help people.

JUDY NOTES, 9 MAY

 Global Currency Reset:

Judy Note: It is my understanding that if you do your exchange at a Redemption Center rather than at a bank, you will be open to receive a higher rate on your exchange. (Zim Bonds must be redeemed at a Redemption Center and cannot be redeemed at a bank). You can set an appointment at a Redemption Center by following instructions sent out in Wells Fargo emails. Such instructions will also be made available on various Dinar Websites and be printed in my Updates as soon as they become available.

Apparent Timing:

Wed. 1 May: The Global Currency Reset of 209 countries began.

Fri. 3 May: Iraq celebrated their financial inclusion in the Global Financial System. Columbia, Brazil, Chile Paymasters began RV-ing.

Sat. 4 May: Foreign Currency Exchange Regulations were completed.

Mon. 6 May: Wells Fargo gave the Green Light for the Global Currency Reset.

https://dinarchronicles.com/2024/05/09/restored-republic-via-a-gcr-update-as-of-may-9-2024/

Banking Industry Something Big Going To Happen Today 2024🔥iraqi dinar ne...

CBI sells +$275 million in forex on Wednesday, 9 MAY

CBI sells +$275 million in forex on Wednesday

Shafaq News/ The Central Bank of Iraq (CBI) auctioned more $275 million on Sunday with remittances outweighing cash sales by a huge margin.

According to a CBI report, the Bank sold a total of $275,539,423 during today's auction. It covered these transactions at a base exchange rate of 1,305 dinars per dollar for documentary credits and international settlements of electronic cards, while the rate stood at 1,310 dinars per dollar for foreign transfers and cash transactions.

The report detailed that the majority of the sales ($262,059,423) went to feed foreign balances in the form of transfers and credit transactions. The remaining $13,480,000 were allocated for cash deals.

Cash deals were made by six banks, while 15 banks met the requests relevant to external balances. A total of 98 exchange and brokerage companies took part in the auction.