Tuesday, November 28, 2023
Delayed Fund Transfer in Iraq Amidst Global Salary Increase Trends, 29 NOV
Delayed Fund Transfer in Iraq Amidst Global Salary Increase Trends
In a recent update from Baghdad, Rudaw correspondent Hewlket Aziz disclosed the postponement of the transfer of 700 billion Iraqi Dinars. This report highlights the persisting financial and administrative challenges within the region. It also alludes to the expectations of talks regarding the disbursement of three months’ salaries in the coming week. This situation has a significant impact on government employees, who are anxiously awaiting their pending salary payments.
Financial Struggles Amidst Positive Global Outlook
While the delay in fund transfer and the anticipated discussions suggest attempts to address the salary arrears, the report does not provide specific reasons for the delay or proposed solutions to the problem. This comes at a time when the ECA International’s Salary Trends Survey for 2023 indicates that the global outlook for employees is beginning to show signs of improvement, with nominal salary increases in 2023 standing at 5.1%. This represents an increase of around one percentage point compared to 2022.
Real-World Implications of Salary Decreases
However, when inflation is considered, employees have, in fact, experienced an average decrease of 1% in real terms. Despite this, employers from most regions are expecting to provide nominal salary increases at a similar level to the current year in 2024.
Regional Developments
Elsewhere in the region, Saudi Arabia and Kuwait have made significant decisions. Saudi Arabia has implemented stricter rules for issuing work visas for domestic workers, with requirements such as foreign employers needing to be at least 24 years old. The country’s Ministry of Human Resources has launched Musaned, a recruitment platform designed to enhance the domestic labor market. Meanwhile, Kuwait’s Council of Ministers has approved a draft Emiri decree that will result in several prisoners being pardoned and the restoration of citizenship for opposition figures that were stripped of their status roughly a decade ago.
https://bnn.network/world/iraq/delayed-fund-transfer-in-iraq-amidst-global-salary-increase-trends/
Baghdad to discuss amending Iraqi Kurdistan’s oil contracts in December, 29 NOV
Baghdad to discuss amending Iraqi Kurdistan’s oil contracts in December, 29 NOV
Officials in Iraq’s oil sector plan to meet with representatives of international oil companies and Iraqi Kurdish officials in early December. The purpose of the meeting is to discuss proposed amendments to the existing contracts, with a focus on the latest efforts to resume oil exports from northern Iraq via Turkey.
Bassem Khudair, the Undersecretary of the Ministry of Oil for Extraction Affairs, informed Reuters that the revival of crude oil exports from the Kurdistan region of Iraq, which have been suspended since March, is subject to negotiations aimed at replacing the current production-sharing contracts with profit-sharing agreements.
Khudair explained that oil exports through Turkey will resume if companies agree to change their contracts.
We expect to reach an agreement with the companies. These companies want to continue working in the region without any problems, Khudair added.
Turkey halted exports of 450,000 barrels per day of oil from northern Iraq on March 25th following an arbitration case ruling by the International Chamber of Commerce (ICC).The Kurdistan Regional Government (KRG) exported oil to Turkey without Iraq’s authorization from 2014 to 2018. As a result, Turkey was ordered to pay $1.5 billion in compensation to Iraq.
CENTRAL BANK GOVERNOR: WASHINGTON RESPONDS TO ALL THAT IRAQ NEEDS IN TERMS OF DOLLARS AND A MEETING WITH IT NEXT MONTH, 28 NOV
CENTRAL BANK GOVERNOR: WASHINGTON RESPONDS TO ALL THAT IRAQ NEEDS IN TERMS OF DOLLARS AND A MEETING WITH IT NEXT MONTH
Central Bank Governor Ali Al-Alaq announced that the Federal Reserve and the US Treasury are responding to all requests for the dollar Iraq needs.
Al-Alaq said in a press interview that “the Iraqi Central Bank will hold a meeting with the US Treasury and the Federal Reserve early next month in Dubai,” noting that “radical steps will be taken within the framework of reorganizing trade on the right foundations,” noting that “the electronic platform will be completed (ending) early next year.”
He noted that “the Central Bank will exit the process of conducting the executive aspects of the external transfer and its role will be limited to supervision, and we have worked to create a new relationship between Iraqi banks and internationally accredited correspondent banks abroad.”
He pointed out that “the US Federal Reserve provides support in creating a relationship between Iraqi banks and correspondent banks,” noting that “the operations of opening accounts for Iraqi banks are happening for the first time, and that the rejection of transfers on the electronic platform has begun to decline and there are no restrictions on Iraqi funds abroad.”
https://mntgoatnewsusa.com/latest-mnt-goat-newsletter/Evening News with MarkZ. 11/28/2023
"RV UPDATE" BY CLARE, 28 NOV
Clare
Article: "The dinar will recover.. Iraq is approaching an “imminent end” to the dollar crisis before the end of 2023” Quote: “The government and the central bank are working to end the dollar crisis once and for all, and there is great progress in this file and there is control over the market, as well as a gradual decline in exchange rates in the parallel market..."
Article: "Central Bank: There is no scarcity of dinar stocks and the monetary supply exceeds 100 trillion" Quote: “the size of the monetary mass or the exported currency amounts to more than 100 trillion dinars, 70 percent of which is in circulation.”
Article: "The media advisor to the Prime Minister, Hisham Al-Rikabi, confirmed...Friday, that the dollar battle is nearing its end" X Tweet: "The reform plans for the financial and banking system undertaken by the government and the Central Bank of Iraq aim to build strong foundations for the stability of the economy and pave the way for creating a suitable climate for investment, and end the eras of illegal trade, dollar smuggling, and speculative operations in market. In short, the battle for the dollar is nearing its end."
Article: "Central Bank Governor: Washington responds to all that Iraq needs in terms of dollars and a meeting with it next month" Quote: "Al-Alaq said in a press interview that “the Iraqi Central Bank will hold a meeting with the US Treasury and the Federal Reserve early next month in Dubai, noting that “radical steps will be taken within the framework of reorganizing trade on the right foundations,” noting that the electronic platform will be completed early next year.”
Article: "US approval to increase the dollar balances of 10 Iraqi banks"
Quote: "The source explained that this agreement came in light of the recent meetings held by the Central Bank of Iraq with the American side, which resulted in an increase in the number of banks that can directly enhance their dollar balance to 10 banks, 5 of which are through Citibank, and the other five are through JP Morgan Bank. "
Article: " The dollar in Iraq.. Baghdad is planning “permanent solutions” with Washington, and Parliament describes the dialogues as “successful”
Quote: " Monday (November 20, 2023), an informed source reported an expected meeting between the Central Bank of Iraq and the US Treasury Department next week."
Article: "An upcoming meeting between the Iraqi Central Bank and the US Treasury next week”
Quote "...new meeting between Iraq and the United States of America regarding the dollar...
On (last September 19) in New York, Iraqi Prime Minister Muhammad Shia al-Sudani informed the US Treasury Under Secretary of the expansion of his government’s work in reducing money laundering operations, while the latter indicated that the confidence of global financial institutions had been restored."
Article: "Iraqi Banks Association: The dollar will fall to the rate of 1,400 dinars... and the date is expected" Quote: " The advisor to the Iraqi Banks Association, Samir Al-Nusairi, expected dollar prices to fall to 1,400 dinars during the first quarter of next year. "
Article Written by: Baqir Jabr Al-Zubaidi - former Minister of Finance "The ongoing dollar crisis"
Quote: "The dollar crisis is a policy crisis of the continued American threat of sanctions, accompanied by the continued bleeding of the currency by private banks that are protected by some influential people, and this conflict is paid for by the citizen...
Solutions exist, and during our tenure at the Ministry of Finance (2006-2010), we succeeded in increasing the value of the dinar from (1,500 dinars to the dollar to 1,170 dinars to the dollar). We were planning to reach (1,000 dinars to the dollar) and then raise the zeros so that the dinar was equal to the dollar."
https://dinarevaluation.blogspot.com/2023/11/rv-update-by-clare-25-nov.html
https://dinarevaluation.blogspot.com/2023/11/rv-update-by-clare-27-nov.html
This evening… Al-Rasheed Bank announces the opening of the platform for buying dollars for travel purposes, 28 NOV
This evening… Al-Rasheed Bank announces the opening of the platform for buying dollars for travel purposes
Al-Rashid State Bank announces opening a platform for purchasing travel purposes, effective 8:00 PM today.
The bank’s media office has released a statement stating that a new mechanism has been introduced to facilitate the exchange of Iraqi cash for dollars at the bank branch located inside Baghdad International Airport. Under this new mechanism, travelers are required to make advance reservations by following the link provided on the bank’s official website. Once a reservation has been obtained, the traveler can visit the bank branch at the airport to deliver the Iraqi cash and receive the desired amount of dollars.
He said that with this procedure, the bank will help citizens buy dollars smoothly. It must ensure correct data entry for a successful reservation.
Sudanese Advisor: Reforming The Economy Begins With The Government Banking Sector, 28 NOV
Sudanese Advisor: Reforming The Economy Begins With The Government Banking Sector
Economy |11/28/2023 Mawazine News – Baghdad The financial advisor to the Prime Minister, Mazhar Muhammad Saleh, confirmed today, Tuesday, that the economic policy in Iraq is moving towards implementing the principle of monetary sovereignty, and while he pointed out that the informal exchange market represents only 10% of trading, he stressed that it cannot be controlled The currency of a country other than the dinar with pricing within the country; Because monetary duality has harmed the economy, he pointed out at the same time that there is a tendency to diversify currencies for travel purposes and not be limited to the dollar.
Saleh told the official agency, “Economic policy in general and monetary policy in particular are moving towards a new principle called (monetary sovereignty), which considers the Iraqi dinar the only refuge for exchange, pricing, and coverage of internal transactions.”
He added, "It is not permissible for the currency of another country whose monetary policy is subject to pricing and trade exchange operations within the Iraqi economy, and the principle of monetary sovereignty starts from this level."
He continued, "The problem in Iraq is the existence of two exchange markets: the first is the regular one in which exchange takes place through the central bank's platforms, which prices the exchange rate at 1,320 dinars to the dollar as a stable and official price and defends monetary policy."
He explained, "The second market is irregular, representing 10% of the trading rate. It is an uncontrolled market controlled by speculators and adds noise to the Iraqi economy as a whole."
He pointed out, "There are two things: The first is commodity diversification, which the government has begun through baskets that support livelihoods, including the food basket that has achieved stability in the prices of materials, as well as the medicine basket, a construction basket, and another basket for reserve materials that the Ministry of Commerce will launch soon. These are financed at the official exchange rate and help... Stabilize prices and counteract the noise introduced by the informal market.”
He stressed that "dealing in the dollar (dollarization) and its pricing of the internal economic movement is what is most harmful to the economy, but there is no harm in covering external transactions exclusively and through official platforms."
Saleh pointed out, “On this basis, government policy and the policy of the Central Bank moved towards not relying on one country’s currency in foreign transactions and diversifying those currencies such as the Emirati dirham, the Turkish lira, the Chinese yuan, the British pound, and the euro, in addition to the dollar. This diversification reduces the dollarization of the economy and gives it great independence.” .
He stressed, "This diversification can be generalized at the level of selling foreign cash currencies for travel purposes and according to the currency of the country to which one is traveling. This will greatly reduce the demand for the dollar as a single currency in transactions, and the monetary and commodity diversification adds independence to the Iraqi economy."
Regarding Iraq’s steps to provide these currencies, Saleh said, “The monetary authority in Iraq is independent, and there is a wide consultation circle between it and the government, and this is happening for the first time to open banking arrangements with central banks in countries that have a commercial partnership with Iraq, such as the Emirates, Saudi Arabia, Turkey, and China, and it is possible to cooperate with these countries.”
Directly in their national currencies to achieve ease of conversion and exchange to finance trade and the movement of goods, supported by a stable exchange rate of 1,320 dinars, which allows for achieving stability and monetary sovereignty.”
He pointed out, "The demand for foreign currency is linked to the demand for goods and foreign transactions. It is dangerous to use the dollar to cover internal transactions, and monetary double-dealing has harmed Iraq. This must end, and it does not mean not providing foreign currency to citizens for the purposes of financing foreign trade or for the purposes of travel and tourism.
Therefore, there are steps." This is a major regulatory change aimed at achieving diversification through agreement with several countries with which transactions are conducted.”
He stressed, "The state has large commercial arms, and whenever it finds that there are needs affected by secondary market noise, the commercial apparatus intervenes to expand its dealings, supported by a stable exchange rate, as well as in cooperation with Iraqi merchants."
Regarding the government’s steps to strengthen the banking system, the Prime Minister’s advisor said, “There is a large team headed by the Prime Minister that directly supervises the reform of the banking system, and the largest system is the government system, whose assets dominate 85% of the assets of the banking system in Iraq, so the reform begins with government banks.
” We are working on this seriously, and during the next 6 months the results of this reform will appear, and there will also be work in parallel to reform the private banking system, and there is a strong movement and cooperation in this direction with the associations of private and Islamic banks.”
He stressed, "The Prime Minister's philosophy confirms that economic reform cannot be achieved without reforming the banking system, and therefore the priority begins with reforming the financial system." https://www.mawazin.net/Details.aspx?jimare=238673
Finance Announces The Launch Of The Second Issue Of Reconstruction Bonds Worth More Than One Trillion Dinars, 28 NOV
Finance Announces The Launch Of The Second Issue Of Reconstruction Bonds Worth More Than One Trillion Dinars
Tuesday 28, November 2023 | Economical Number of readings: 487
Baghdad / NINA / The Ministry of Finance announced on Tuesday that it intends to make the second issue of reconstruction bonds available.
The ministry stated in a statement, “Given the strong demand for trading national bonds (reconstruction bonds) and the complete subscription of the first issue amount, the ministry, represented by the Public Debt Department and in cooperation with the Central Bank of Iraq, intends to make the second issue of reconstruction bonds available at a value of 1.5 trillion dinars.” Iraqi) and with the same mechanism previous to the first issue.
She added, "This measure comes in implementation of the paragraphs of the government program related to enhancing the development and investment aspects represented by the reconstruction and construction movement that our dear country is witnessing, in addition to developing financial and monetary policies and providing opportunities for citizens to contribute to the overall economic activity through investment in bonds," noting that "these bonds are issued with a guarantee."
The Ministry of Finance, and it is possible to purchase the bond by submitting an application to one of the official banks approved and registered with the Central Bank.”
The Ministry called on "investors and citizens to take advantage of the offer and take the initiative to benefit from this investment opportunity," noting that "the size of this issuance will be limited."
She explained that “the second issuance of bonds worth one and a half trillion dinars is negotiable on the Iraqi Stock Exchange, and is available in two denominations: - The first at a price of
(500,000) dinars, with an annual interest of 6% for two years.
- The second at a price of 1,000,000 dinars, with an annual interest of 8 % for four years.
She pointed out that “purchasing and trading the bonds offered are exempt from taxes according to what is stated in the General Federal Budget Law No. 13 of 2023.”/End 11
Overthrowing A Network That Manipulated Dollar Exchange Rates In Baghdad, 28 nov
Overthrowing A Network That Manipulated Dollar Exchange Rates In Baghdad
Economy News – Baghdad The General Directorate of Intelligence and Security announced, on Tuesday, the overthrow of a network that manipulated the dollar exchange rates in Baghdad .
The directorate stated in a statement, seen by Al-Iqtisad News, that “it is part of a series of specific duties carried out by the General Directorate of Intelligence and Security at the Ministry of Defense, and after the availability of accurate information about a group of smuggling gangs and speculators at the price of the dollar, through their carrying out remittance operations and buying and selling the dollar, contrary to instructions.
” The Central Bank of Iraq, the detachments of the Baghdad Intelligence and Security Directorate, affiliated with the same directorate, boycotted the information, and after obtaining judicial approvals, they were able to raid one of the banking companies in the Karrada area in Baghdad. ”
She added, "The operation resulted in the arrest of five accused speculators in the dollar exchange rate, in addition to carrying out remittance operations contrary to official instructions," noting that "they were handed over to the legally competent authorities. "
Views 44 11/28/2023 - https://economy-news.net/content.php?id=37928
Revamp of Iraq’s Budget Law: A Potential Shift in Economic Landscape, 28 NOV
Revamp of Iraq’s Budget Law: A Potential Shift in Economic Landscape
In a significant political development, Herem Kamal Agha, a key figure in Iraq’s economic landscape, has declared that the nation’s budget law is under revision. This announcement indicates a potential shift in Iraq’s financial planning and resource allocation, which could carry profound implications for the country’s economic and political future.
Amendments: A Collective Effort
The process of amending the budget law is likely to involve a diverse range of stakeholders, including government officials, policymakers, and possibly international advisors. Their collective input will shape the course of Iraq’s economic policies, potentially influencing public services, infrastructure projects, and investments.
A New Economic Era
These amendments could fundamentally alter Iraq’s economic stability. The potential ramifications are vast, with the potential to touch every sector of the nation and its populace. This legislative change is not only significant within Iraq but will also be closely monitored by international observers interested in the nation’s economic trajectory.
Indications of Change
Recent signs of changing economic dynamics have been spotted. The Turkish government has hinted at the possibility of oil beginning to flow once more along the Iraq Turkey Pipeline following a months-long shutdown. This development is promising for Iraq, given the critical role oil plays in its economy. The Economic Relations Department of Iraq’s Ministry of Trade also participated in a conference to formulate Iraq’s five-year national development plan, underscoring the nation’s commitment to a collaborative and forward-thinking approach to economic development.
https://bnn.network/politics/revamp-of-iraqs-budget-law-a-potential-shift-in-economic-landscape/
Iraq Aims to Modernize Economy with Shift to Electronic Payments, 28 NOV
Iraq Aims to Modernize Economy with Shift to Electronic Payments, 28 NOV
In a recent proclamation, Prime Minister of Iraq, Mohammed Shia’ Al Sudani, underscored the imperative for Iraq’s financial systems to transition towards an electronic payment system. This significant shift is not just a technological advancement, but a crucial step towards modernizing Iraq’s financial infrastructure and aligning it with global economic practices.
Prime Minister Al Sudani emphasized the substantial economic benefits that an electronic payment system would bring. The shift towards digital transactions would not only streamline financial processes but also enhance overall economic efficiency. The move is deemed necessary to cope with the rapid changes in the global financial landscape, where digital transactions have become the norm rather than the exception.
Clampdown on Corruption
Another substantial advantage of this transition is the potential to reduce corruption. By embracing electronic payments, the government aims to increase transparency in economic dealings, making it harder for corrupt practices to go unnoticed. This move, therefore, not only brings financial efficiency but also fortifies the fight against corruption.
This shift towards electronic payments is part of a broader effort to modernize Iraq’s financial systems. By aligning with global economic practices, Iraq is positioning itself to be more integrated with the worldwide economy, and thereby attract more foreign investments. The move is seen as a significant leap forward in a country that has been grappling with the aftermath of war and political instability.
https://bnn.network/world/iraq/iraq-aims-to-modernize-economy-with-shift-to-electronic-payments/
"EVENING MARZ NOTES" (ENGLISH & SPANISH), 28 NOV
Monday Night News with MarkZ 11/27/2023
Member: Good night and full moon tonight……
Member: I hope we get even a sliver of good RV news tonight.
Member: Open the doors and let it reset!
MZ: Today I hear that they are educating people and spreading lower denominations... completely new lower denominations. From what I hear, they are now more prominent in the Kurdish region.
MZ: Several ministers have said that the "parallel market" will be resolved in the coming days. How are they going to fix that? A revaluation.
MZ: The rumors in Iraq are tremendously impressive right now.
Member: I love the talk, but let's see some real action!!!
Member: Frank says they are handing out leaflets to the public in Iraq. I'd sure like to see one of those flyers.
MZ: I haven't heard of the brochures, but I have heard that the banks are educating people in Iraq and giving us learning materials. Maybe that's what he's talking about.
Member: What is your gut telling you right now?
MZ: He was shouting “by December 1” and with the news coming out of Iraq, I wouldn't be surprised to see him this week. BUT NO ONE KNOWS THE EXACT MOMENT.
MZ: The group leaders say they “are ready to distribute.” They are simply waiting for permission to distribute to group members. Which to me means they already have the money to deliver. I heard this from 3 different groups. They are ready to release the funds right now. I think this is exciting.
MZ: No news from CMKX….yet
Member: At TNT, they thought the bolivar would cost around 0.30 cents.
MZ: I've heard that too... But I don't know what the final rate will be.
Member: I hope and pray we all have a fantastic Christmas!!
Member: But we'll be happy with the RV before that...lol
Mod: HAVE A BLESSED NIGHT GUYS!
TRASLATION IN SPANISH"
Noticias del lunes por la noche con MarkZ 27/11/2023
Iraq’s Pending Financial Decision: A Stumbling Block for Kurdistan’s Salary Disbursement, 28 NOV
Iraq’s Pending Financial Decision: A Stumbling Block for Kurdistan’s Salary Disbursement
In a recent turn of events, the Council of Ministers of Iraq has yet to authorize the last tranche of 700 billion Iraqi dinars, earmarked for the salaries of the Kurdistan Region’s employees. This development, as informed to Rudaw by a source involved in the meeting, indicates that the Iraqi government still has some time to ponder over the decision of transferring additional funds to the Kurdistan Region.
Baghdad-Erbil: An Ongoing Financial Dispute
The Prime Minister of the Kurdistan Region, Masrour Barzani, confirmed that the regional government’s delegation visiting Baghdad is engaged in critical discussions. The central focus of these discussions is to find lasting solutions to the ongoing disagreements and issues between Erbil and Baghdad. The delegation’s current presence in Baghdad is primarily to address a plethora of unresolved issues with the federal government, especially those concerning the budget and the delayed funding for the people of Kurdistan’s salaries.
Barzani underscored the importance of settling the oil dispute through an advanced federal oil and gas law. This law, based on the permanent constitution, would enable the region to resume oil production and exports, providing benefits not only to Kurdistan but also to all Iraqi citizens.
Kurdistan’s Salary Crisis
In a related development, Iraqi security forces barred hundreds of teachers from the semi-autonomous Kurdistan region from reaching Baghdad. These education workers have been demanding that the federal government pay their delayed salaries. Public sector teachers in Sulaimaniyah and Halabja provinces have been boycotting classes since mid-September, citing unpaid salaries by the Kurdistan Regional Government (KRG).
The KRG had frozen pay hikes for all public sector employees and security forces in 2016 following a slump in oil prices. However, it later increased salaries for Peshmerga forces and judges. According to the KRG, it requires 940 billion Iraqi dinars ($602 million) to pay monthly salaries to over 1,200,000 civil servants but cannot do so without regular financial support from Baghdad. This unresolved issue casts a long shadow over the region’s economic stability and the livings of numerous citizens.
Kurdistan’s Oil Conundrum: From Unresolved Disputes to Bold Decisions, 28 NOV
Kurdistan’s Oil Conundrum: From Unresolved Disputes to Bold Decisions
As the clock ticks, the oil-strewn fields of the Kurdistan region in Iraq await a resolution. With the resumption of oil exports to Turkey hanging in the balance, the Kurdish Regional Government’s Ministry of Natural Resources has announced a sweeping decision: the oil allocated by the Iraqi government will be sold to citizens at any price.
Unresolved Disputes and the Oil Dilemma
A myriad of obstacles persist, chief among them being the renegotiation of contract terms with international oil companies. The delay in reaching a solution is attributed, in part, to these companies’ hesitance in altering service contract terms with the Iraqi federal government. Should a resolution to this oil production issue continue to elude the stakeholders, the fallout could be far-reaching, especially given the concurrent regional crises.
Political Tensions and the ‘Monopoly of Power’
According to a Kurdish member of the Iraqi parliament, the relations between the governments of Baghdad and Erbil, despite being generally amicable, are marred by a troubling factor. The political parties forming the current Iraqi government are the root cause of the problems, with some within the State Administration Coalition seeking to impose a ‘monopoly of power’. These issues are deeply entwined with the rights of the region, involving several legal articles, the Federal Council Law, state revenues, and the Peshmerga.
Road to Resolution: The Delegation’s Role
Kurdistan Region’s Prime Minister, Masrour Barzani, affirmed that the delegation from the regional government visiting Baghdad is engaged in earnest discussions. Their mission? To find fundamental solutions to the ongoing disputes and issues between Erbil and Baghdad. Among the unresolved issues, the budget, delayed funding for Kurdistan’s people’s salaries, and—most importantly—the oil issue stand out. Barzani emphasized the necessity of resolving the oil issue through an advanced federal oil and gas law rooted in the permanent constitution.
In a parallel move, Rashid Bank has reopened the distribution of dollars to tourists. This move is presumably aimed at encouraging travel and boosting the local economy. However, the mechanism or conditions for the oil sale and the dollar distribution remain undisclosed, casting a shadow of uncertainty over the situation.
https://bnn.network/world/iraq/kurdistans-oil-conundrum-from-unresolved-disputes-to-bold-decisions/
"RV UPDATE" BY TISHWASH & KAPERONI, 28 NOV
Tishwash
Article: "The dinar will recover.. Iraq is approaching an “imminent end” to the dollar crisis before the end of 2023"
Quote: "We expect that the new year will witness a significant decline in dollar prices with the rise in the value of the Iraqi dinar, especially with the presence of government decisions and directives to address all the causes of the dollar crisis, and we expect that economic and financial stability will be strongly present at the beginning of next year. "
Kaperoni
A significant increase in the value of the dinar at or equal to its face value with 90 trillion dinar in circulation would, in essence, be six times the value of the entire countries wealth...
This is why I have stated numerous times that if and when the dinar ever was to go up in value, it would have to go up gradually over time so that the dinar money supply could be reduced. But that only could occur if Iraq's economy began to significantly prosper.
"IRAQ BOOTS ON THE GROUND REPORT" BY FIREFLY, 28 NOV
Frank26
[Iraq boots-on-the-ground report]
FIREFLY: TV saying CBI has come a long ways in battling the dollar and the battle is about to come to end.
FRANK: Yeah, darn right! The theme, mantra, ambrosia in the taste of Iraq's monetary reform is repeating the same thing over and over, It's about to come to an end. What? The dollar. Which means our currency is going to blossom
FIREFLY: Television saying private banks and exchange companies are expressing the preparation in reducing the exchange rate.
FRANK:Oooo, snap!
FIREFLY: For the first time we're seeing a video. It's new. It's 10 minutes long. It's being shown to us every day now this week... They say they are dedicated to the Iraqi citizens to keep us updated on the changes by the banks on our new monetary system reform...It will be every day updating us on new financial news.
FRANK: They told them now every day for 10 minutes during the financial report of Iraq Channel One we're going to start to talk to you more about the monetary reform...These are the things we told you they were going to do. Pretty cool.
FIREFLY: Iraq's security teams arrested the most dangerous foreign currency smuggler inside of Iraq. They're saying this is the head of the snake. They tell us that by removing this man our reforms will continue and move forward as has been promised to us Iraqi citizens.
FRANK: These events...are extremely powerful events to allow the new exchange rate to come out.
FIREFLY: Iraq's security teams arrested the most dangerous foreign currency smuggler inside of Iraq. They're saying this is the head of the snake. They tell us that by removing this man our reforms will continue and move forward as has been promised to us Iraqi citizens.
FRANK: These events...are extremely powerful events to allow the new exchange rate to come out.
Two months ago a quick little pip movement took the exchange rate of the Iraqi dinar from 1460 to 1320...They were supposed to make the next step.
I told you at that time, 'Now that they've made this movement, let's say 1320 to 1, the next one will be 1,000 to 1 and when they do they will be in position to lift the three zeros and float the currency in a basket...'
Article quote: "Solutions exist, and during our tenure at the Ministry of Finance (2006-2010), we succeeded in increasing the value of the dinar from (1,500 dinars to the dollar to 1,170 dinars to the dollar). We were planning to reach (1,000 dinars to the dollar) and then raise the zeros so that the dinar was equal to the dollar." What?!?
Word for word of what we taught you...This is the last step. IMO the CBI is going to be going to the US Treasury next week...This is exactly what we want next
FIREFLY: Television is talking to us all day about the government taking measures to address the exchange rate and the parallel market but they can’t change the rate. They say only the CBI.What’s going on? Why don’t the CBI help?
FRANK: Calm down, calm down…As far as parliament saying whatever they are saying…who cares. Their voice is an echo in the abyss of darkness.
Question:
“Has anything changed in regards to Iraq satellite banks exchanging dinars for US citizens?”
No. They will follow American banking laws. They won’t do anything different than any American bank is doing in American territory.
You want to know the exchange rate of the BRICS because maybe, maybe the Iraqi dinar will be 1 to 1 with a basket of BRICS. Maybe…one clue. It’s an RI not and RV.
https://dinarevaluation.blogspot.com/2023/11/rv-update-by-frank26-22-nov.html
https://dinarevaluation.blogspot.com/2023/11/iraq-boots-on-bground-report-by-firefly.html
"IRAQ BOOTS ON THE GROUND REPORT" BY FIREFLY, 9 MAY
Frank26 [Iraq boots-on-the-ground report] FIREFLY: Television says Iraq is now producing 1 million liters of gasoline on a daily...
-
Walkingstick All these meetings that the CBI had with all these agencies that were helping them with their monetary reform are done. Al...
-
TEXAS SNAKE Texas Snake, [03/16/2024, 10:17:58 a. m.]: Texas Snake, please forgive me I know this is long, but I’ve been waiting for two ye...
-
RayRen98 BANK STAFF RECEIVED "GET READY" MEMOS THIS MORNING, THEY'VE BEEN EXCITED ALL DAY! Nader From The Mid East Y...