Is Iraq Able To Prevent Dealings In Dollars To Restore The "Prestige" Of The Dinar?, 27 AUGUST

 Is Iraq Able To Prevent Dealings In Dollars To Restore The "Prestige" Of The Dinar? - Urgent

Economy  |Today  Baghdad today – Baghdad   On Saturday (August 26, 2023), the expert in economic affairs, Mustafa Akram Hantoush, confirmed the difficulty of canceling dealing in dollars, especially since Iraq imports everything in hard currency .

Hantoush told "Baghdad Today" that "the government's tendency to sell cars in Iraqi dinars instead of US dollars is very difficult from a practical point of view, despite the government's attempt to impose pledges on exhibition owners and carry out a massive arrest campaign. "

He added, "The decision is practically difficult to implement, since the car trade passes through a global market that deals in hard currency, because we do not have the possibility of manufacturing cars inside Iraq, and we only have the Mahmoudiya factory ."

He pointed out that "large quantities of cars are imported from abroad and in the currency of the dollar, and therefore they are priced in hard currency, and even if they are priced in dinars, this will be done on the basis of the last price of the dollar, and therefore the citizen will not benefit anything from the process of selling cars in dinars. "

And that "the central bank is trying to strengthen the currency by reducing access to the dollar by traders only ."

The government is trying to control the continuing rise in the exchange rate of the dollar against the Iraqi dinar in the market, about seven months after its official decision to raise the value of the Iraqi dinar at a price of 1320 per dollar .

The government had taken a decision last February to raise the value of the Iraqi dinar against the dollar, after its price at the end of 2020 reached 1,470 dinars per dollar. It was implemented by the previous government to bridge the deficit in expenditures and salaries due to the drop in oil prices in global markets .

The Dollar Is Forbidden

The Ministry of the Interior prevented merchants and citizens from dealing in dollars in markets and shops, and restricted transactions to Iraqi dinars.

It seems that the security solution to the rise in the price of the dollar in the parallel market inside Iraq did not achieve any significant results, but rather complicated the economic scene and led in part to a rise in prices in the Iraqi markets.

Economic specialists point out that the market requires many measures to maintain the stability of the currency, most notably preventing smuggling.  LINK

Dinar RV Breaking News🔥Iraq's PM Economic Advisor: High State of Economi...

"NEWS SUMMARY" BY HERNAN ROBERT ( ENGLISH & SPANISH), 27 AUGUST

News Summary

Hernan: Says

— It is reported that at the end of August 2023 the RV will begin.

But it could also be sooner, this week many heads will have to fall but there is a larger snake head that will be cut off.

— IRAQ is ready for its REVALUATION and there will be no floating of the currency, it is reported that in the USA the total value of the Iraqi currency will fluctuate in USD$3.81 dollar for one IRAQI DINAR.

This was confirmed by the CBI (CENTRAL BANK IRAQ).

— IRAQ will not appear at the BRICS meeting.

The US will stay for ten more years in IRAQ, the US military is working hand in hand with the Iraqi military.

— Hard work is being done behind the scenes to deliver our blessing on time.

— Large holders are informed to continue waiting, they will soon give their green light for the visible funds of their accounts.

— Super Whale Hanry was summoned yesterday Monday to sign a SOLF NDA, cascade non-disclosure with his people and third parties.

Greetings

🔥♦️✨Hernan Robert

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TRANSLATE IN SPANISH: 

Resumen de noticias 

Hernán : Dice 

— Se informa que al final del mes de Agosto del año 2023 se iniciará el RV.

Pero también puede ser antes, esta semana tendrán que caer muchas cabezas pero hay una cabeza de serpiente mayor que se cortará.

— IRAK está listo para su REVALUACION y no habrá flotación de la divisa, se informa que en USA el valor total de la moneda iraquí fluctuará en USD$3.81 dólar por un DINAR IRAQUÍ.

Esto lo confirmo el CBI ( CENTRAL BANK IRAK ).

— IRAK no se presentará en la reunión del BRICS.

EEUU se quedarán por diez años más en IRAK, los militares estadunidenses están trabajando a la par con los militares iraquíes.

— Se está trabajando duro detrás de cortinas para llevar nuestra bendición en los plazos establecidos.

— Se informan a grandes tenedores seguir en espera pronto darán su luz verde para los fondos visibles de sus cuentas.

— Hanry súper ballena fue citado ayer lunes para firmar una SOLF NDA, no divulgación de cascada con su gente y terceros.

Saludos

🔥♦️✨Hernán Robert

DINARLAND UPDATE, 27 AUGUST

 MarkZ

[via PDK]

I am still hearing from my sources here and there that they are expecting things to be well launched and people with money in the month of August…I have heard no negative news at all.  We continue to get positive news out of Iraq from Sadr to Sudani…we are in a good spot…lets see what happens.

Bruce (The Big Call)

[via WiserNow]

…in Iraq yesterday we heard had a much higher rate in Iraq on dinar – I say, much higher – And that’s really good news…Iraq wants us to have a high rate on the dinar – and it will be – and I’d love to tell you what I know about it, but just suffice to say that higher than we thought it would be, And that’s a good news…And then I think the dong is going to come in with a very, very, very high rate as well… compared to what certain people have said it was coming in at. We know it’s much higher because we know what the bank screens are telling us.

RayRen98 (TNT)

…WE DON’T HAVE A RATE CHANGE YET…IT “APPEARS” THAT SOME 3 LETTER AND PTB ARE HAVING A “TUG OF WAR” REGARDING FLIPPING THE SWITCH – TIME WILL TELL.

Sandy Ingram

There are 4 significant benefits to the Iraq dinar increasing in value against the US dollar… 

1.  You could make a profit…when they appreciate in value.  On the backside the US Department ofTreasury would earn a substantial amount in taxes for people who cash in their Iraqi dinars. 

2.  An Iraqi dinar surge would improve Iraq’s economy which could positively spill over into the global economy… 

 3.  An Iraq dinar surge would also benefit businesses and individuals who have invested in Iraq as their investments would become more valuable. 

 4.  An Iraqi dinar surge would help stabilize Iraq’s currency for both Iraqis and foreigners who do business in Iraq.

"RV UPDATE" BY FRANK26, 27 AUGUST

 Historically, this isn't opinion, it's a factual statement...we have seen bank movements...currency printed...exchange rates change...the IMF and the CBI working together and doing things in the month of April and in the month of September.  I don't know of any other month where they have made any other type of financial moves with their budget...currency... banking structure.  All of it.  It's always been April and September. 

 Question "Do we expect any other currencies to re-value when Iraq finally releases the new exchange rate?"   The new exchange rate only belongs to the IQD.  As for as another currency, the dinar is the only currency the IMF has said is going to go up in value.  Why should I care about any other currency - yet.  Although there are good investments.  I don't want to mislead.  Diversification and currency is a good investment but you better know what you're doing...

The fear that they could steal this new exchange rate /currency is no longer that strong.   Sudani is dealing with corruption.  When he's done with corruption we will have the new exchange rate.  There's no other reason not to have it.

August Still Good?💣IQD & Dong Revalues Together!?🤔Iraq Dinar RV Updates ...

"RV UPDATE" BY MILITIAMAN, 27 AUGUST

8-27-2023 Militia Man  Article Quote:  "Iranian Deputy foreign minister...announced his county no longer has any frozen funds in Iraq and South Korea after the understanding between Tehran and Washington... Funds in Iraq has already begun to be solved..."  

If Iran has the full authority to manage its funds there's no sanctions...That's phenomenal...Iran is a major trading partner with Iraq and they will need to do trade with local currencies.  From this deal...the process of money moving should have not problem...They should be on a competitive exchange rate system with local currencies...Iraq is the heart of this whole deal. 

Militia Man  Article quote "Joint efforts to attract investors and developing the economic plan."   The Securities Commission is looking to make headway now big time.  

Global investors are not going to come into Iraq Stock Exchange at 1310.  They've not done it before and they're not going to do it tomorrow.  Something is going to have to change for them to be motivated

Militia Man  [Reference Guru Clare's Iran Article below]  If they released the funds to Iran there's something going on.  If sanctions have been lifted there's a reason for that...

We're going to find out really quick what that really truly means...The most important situation to me is they are going to release billions of dollars and they already begun that process to do so...

Formation Of A Joint Committee Between Baghdad And The Region Regarding Approving The Oil And Gas Law, 27 AUGUST

 Formation Of A Joint Committee Between Baghdad And The Region Regarding Approving The Oil And Gas Law

political | 03:16 - 08/27/2023   Baghdad - Mawazine News, a member of the House of Representatives, Firas Al-Maslamawi, announced, on Sunday, the formation of a joint committee with the region regarding the approval of the oil and gas law, while he expected the date for the approval of the law.

Al-Maslamawi said, "A committee was formed by the Minister of Oil, the Minister of Natural Resources in the region, the general manager of SOMO and the advanced staff in the Ministry of Oil, as well as the oil-producing governorates such as Basra, Dhi Qar, Maysan and Kirkuk," noting that "the task of the committee is to develop a draft of the oil and gas law and present it to government and the House of Representatives.

He pointed out that "there is a real will of the House of Representatives in order to legislate the law," noting that "the current year's budget included the addition of two articles to the law, which is regulating the export of the region's oil in terms of export and depositing imports in a bank accredited by the Central Bank."

He explained, "Iraq's oil is one and indivisible, and there is a movement towards achieving justice in the distribution of wealth to the people, whether in the Kurdistan region or the center and south."

He added, "The atmosphere is suitable for approving the law, and it is hoped that the draft will be completed and reached parliament in the current legislative term," expecting "the approval of the law in the next legislative term after about 4 months." https://www.mawazin.net/Details.aspx?jimare=233977

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Parliamentary Finance Reveals The Most Important Thing That Was Agreed Upon While Hosting The Governor Of The Central Bank

Political  | 04:47 - 08/27/2023   Baghdad- Mawazine   The head of the Parliamentary Finance Committee, Atwan Al-Atwani, revealed today, Sunday, the most important thing that was agreed upon during the committee’s hosting of the Governor of the Central Bank, Ali Al-Alaq, while indicating his assertion that the stability of the exchange rate takes place with the commitment to purchase from the government platform.

Al-Atwani said to the official agency, followed by Mawazine News, that "it was agreed during the hosting to form a joint committee from the Finance Committee and the competent staff at the Central Bank to study the revival and support of the housing loan initiative and ensure the permanence and continuity of its financing in a way that enhances economic stability and achieves sustainable development."

He added, "The governor of the central bank affirmed his efforts to reach a state of stability in the exchange rates of the dollar by committing to buying from the government platform."

And the Parliamentary Finance Committee confirmed in a statement issued by it that it discussed with Al-Alaq the Central Bank’s initiative to grant citizens loans to solve the housing crisis, as well as the exchange rate file.

The statement said that "Al-Atwani praised during the hosting the role of the Central Bank in financing loans related to solving the housing crisis in the country, with the aim of facilitating the investment sector, economic movement and employment," noting that "the suspension of the initiative affects the economic aspect and job opportunities, with the increasing need for housing units, Which requires conducting a feasibility study to reach an appropriate formula that meets the citizen's needs.

The statement quoted Al-Alaq as explaining the reasons that led to the suspension of the initiative, adding that “money has been allocated to the Real Estate Bank and the Housing Fund with the aim of achieving economic activity and launching the initiative,” while he indicated that “the bank deals with the file with an in-depth study in order to control the monetary mass in accordance with the policy.” Finance, stressing the need to increase capital and support the Central Bank to continue the initiatives.

According to the statement, hosting discussed the issue of the exchange rate of the dinar against the dollar, as well as tax procedures on products imported through the ports. End 29

https://www.mawazin.net/Details.aspx?jimare=233983