DINAR REVALUATION: 12/22/23

Friday, December 22, 2023

Using national currency needed for respecting state sovereignty, says Iraqi PM advisor, 23 DEC

Using national currency needed for respecting state sovereignty, says Iraqi PM advisor

ERBIL, Kurdistan Region - The financial advisor to Iraq’s prime minister on Wednesday stressed the need for all internal transactions to be conducted using the Iraqi dinar, telling Rudaw that using anything other than the national currency is a disrespect to the state’s sovereignty.

The Iraqi dinar has been losing value against the US dollar for several months, leading to a surge in prices of basic goods and consequent outcry from the Iraqi public. The depreciation has been attributed to the smuggling of dollars out of Iraq, mainly to neighboring Iran.

The Iraqi government has for months been trying to control the fluctuations in the exchange rate between the dinar and the US dollar. The value of one dollar currently sits at around 1,530 dinars in the currency markets of Iraq and the Kurdistan Region, which is significantly higher than the value set out in the federal budget.

“One of the requirements for any country to respect its sovereignty is that there should not be two currencies within the economy,” Mudher Mohammed Saleh, the financial advisor to Iraqi Prime Minister Mohammed Shia’ al-Sudani, told Rudaw.

“The purpose of foreign currency is to deal with it outside the [national] economy, so it is not possible to consider the existence of a price in the dollar and a price in the dinar: one rises and the other falls. No monetary policy can control such a situation,” he added.

The Central Bank of Iraq (CBI) in September announced that all the transactions inside Iraq would be made using Iraqi dinars starting in 2024.

The advisor stressed that all internal transactions, including the payment of financial entitlements and salaries, need to be made using the Iraqi dinar, while external transactions can be carried out using foreign currencies at their specified exchange rates.

The 2023, 2024, and 2025 Iraqi federal budget, passed in June, set the exchange rate of $1 to 1,320 Iraqi dinars. The ongoing smuggling has prevented the suggested value from being reached.

“The exchange rate will be fixed, especially since it has been fixed in the federal budget law for three years,” said Saleh.

The discrepancy between the dinar value set in the budget and the exchange markets has compounded the economic woes of citizens, who typically receive their salaries in dinars but are forced to deal with more expensive prices due to the devaluation of the currency on the black market.

The US in July banned transactions with 14 Iraqi banks for allegedly violating its rules. The move further dropped the value of the Iraqi currency. ink

"RV UPDATE" BY NADER FROM THE MID EAST

Nader From The Mid East

The facts are the facts. If they delete the dollar, if they take off the dollar from the markets in Iraq, they're going to have to come out with a small category of dinar. That's it. Why? Because it's too much dinars to carry...I'm not going to cary 150,000 dinars in my pockets. I'm not going to do that. I prefer to have $100 than 150,000.

Everybody's asking me what's going on. What's the news. The news, you will see it on the 1st of January - what exactly is going on. They already gave you a date. I told you the 1st of January we'll be out of the dollar. We will not work with the dollar anymore in Iraq.

🔥Iraqi Dinar🔥Today WOW, WOW WOW!🔥News Guru Intel Update IQD Value to USD...

"RV UPDATE" BY FRANK26, 23 DEC

Frank26

The IMF is telling the world that the CBI is about to add value and change the exchange rate. Congratulations. As far as I'm concerned the announcement was just made.

Article: "IMF Staff Concludes Staff Visit with Iraq" FROM THE IMF, FROM THE HORSE'S MOUTH... GIVES PERMISSION TO PULL THE FINANCIAL LYNCHPIN ON THE GRENADE OF THE MONETARY REFORM!

[Iraq boots-on-the-ground report]

FIREFLY: Sudani has statement to us citizens to be on watch for change in the dinar pricing for goods in our market.

FRANK: Realize that Sudani is telling you there is a change coming to the exchange rate of your sovereign national currency...He told you to look for it. That is simply amazing. It is part of the monetary reform education that is so loud even the man on the moon can hear it.

FIREFLY: Sudani didn't say the amount of the change that will occur, whether it was small or large. He just told us to watch in our markets for the dinar to increase and the plan they had to devour the parallel markets is all but complete.

FRANK: [Happy fist pump yes!] How much time is there left!?

Regarding the dollar… Al-Alaq talks about American and international welcome to the Central Bank’s steps, 23 DEC

Regarding the dollar… Al-Alaq talks about American and international welcome to the Central Bank’s steps

Mawazine News – Baghdad
The Governor of the Central Bank, Ali Al-Alaq, confirmed today, Friday, the continuation of financing foreign trade in several foreign currencies in addition to the dollar. While he indicated that the banking sector’s implementation of compliance rules strengthens Iraq’s financial position globally, he pointed out that there is an international welcome from the US State Department. And the International Monetary Fund, with the measures implemented by the bank that strengthened the banking sector’s commitment to these rules.
Al-Alaq said, “The Central Bank followed a plan that included mobilizing all requests for the dollar within the proper and fundamental channels, while attracting all merchants, importers, and those in need of external transfers within these frameworks and channels.”

He added, “The more the size of these channels and the number of participants expand in them, the more it affects two things positively. The first is the exchange rate and its stability, and the second is providing the correct compliance rules, which strengthens the reputation of the country and the banking sector externally and strengthens Iraq’s financial position globally. This matter is currently being done with an exceptional and great effort, as for the first time it is witnessing… Iraq: Reorganizing the external transfer process through correspondent banks instead of the central bank or the Federal Bank being the executive interface for this process.

He continued, “In fact, this process is not the best practice in the world. Rather, it is better for all transfers to be through a relationship between the local Iraqi bank and the external correspondent bank, and the central bank carries out the process of monitoring, supervising, and enhancing foreign currency balances abroad to cover these needs.”
Al-Alaq stressed, “This matter was achieved by introducing a series of currencies into foreign trade, including the Chinese yuan, the Indian rupee, the euro, the Turkish lira, and the Emirati dirham, in addition to the dollar. Wherever there is a need that depends on the weight of trade between us and the country with which there is trade activity, we will use those currencies.” “.

He pointed out that “the US Department of the Treasury and the Federal Bank very much welcomed the central bank’s steps related to the use of correspondent banking channels, and also the application of compliance procedures and rules followed by the central bank. This also appeared in the recent International Monetary Fund report, which praised the central bank’s efforts within the framework of the banking sector’s compliance with anti-corruption rules.” Money laundering and terrorist financing.”

https://www.mawazin.net/Details.aspx?jimare=239512

"RV UPDATE" BY WALKINGSTICK, 23 DEC

Walkingstick

They were mopping up excessive liquidity. That's the 3-zeros of the Iraqi dinar and the American dollar. Even the dinar is a liquidity that had to be mopped up to collect the 3-zeros. They have accomplished that enough, now they are collecting the American dollar from their market.

As the days go by and we walk toward the 1st of this year IMO so far the monetary reform is keeping its word on their intent of adding value and introducing a new monetary system called the lower denominations.

The intent of the government of Iraq and the board of directors of the CBI is to eventually float. We see this information in the art

They have told them [Iraqi citizens] a change is coming. Do you need another clue? Come January 1st what are the citizens supposed to do?

What are they supposed to use? Should they continue to use a worthless currency? Should they continue to live in misery, poverty, when they were promised other things? Iraq will be another Dubai. What more can the CBI do after the first? Reinstate and float. That will make the Iraqi citizens very happy...

Why only [spend] 20% [of their budget] in 11 months? IOO they're waiting for a new exchange rate. They're going to use their currency...

pressure will be reduced on the citizens by adding value to their currency...Stop using the dollar on January 1, 2024 because the monetary reform education is the key and we're telling you what we are doing.

IMO they are telling them all so they will understand where the monetary reform process is at at this moment.

https://dinarevaluation.blogspot.com/2023/12/rv-update-by-walkingstick-16-dec.html

They have told them [Iraqi citizens] a change is coming. Do you need another clue? Come January 1st what are the citizens supposed to do? What are they supposed to use?

Should they continue to use a worthless currency? Should they continue to live in misery, poverty, when they were promised other things? Iraq will be another Dubai. What more can the CBI do after the first? Reinstate and float. That will make the Iraqi citizens very happy...

Why only [spend] 20% [of their budget] in 11 months? IOO they're waiting for a new exchange rate. They're going to use their currency...pressure will be reduced on the citizens by adding value to their currency...Stop using the dollar on January 1, 2024 because the monetary reform education is the key and we're telling you what we are doing. IMO they are telling them all so they will understand where the monetary reform process is at at this moment.

Stop using the dollar on January 1, 2024 because the monetary reform education is the key and we're telling you what we are doing. IMO they are telling them all so they will understand where the monetary reform process is at at this moment.

The 1st of January is when no other currency will be used by Iraqi citizens inside the country except their own currency. Don't you think that's a clue! They are pretty much telling you without telling you. Can you pick up on this intent? You don't have to be a detective to pick up on a clue like this!

https://dinarevaluation.blogspot.com/2023/12/rv-update-by-walkingstick-14-dec.html

https://dinarevaluation.blogspot.com/2023/12/rv-update-by-walkingstick-15-dec.html

Evening News with MarkZ. 12/22/2023

Friday Evening News with MarkZ

Some highlights by PDK-Not verbatim

MarkZ Disclaimer: Please consider everything on this call as my opinion. People who take notes do not catch everything and its best to watch the video so that you get everything in context. Be sure to consult a professional for any financial decisions

Member: Good Morning, Good Afternoon or Good Evening- Depending on where you are at.

Mod: GOOD EVENING, HOPE THE DAY WAS GREAT FOR YOU ALL!!

Member: Mark, I heard the St. Germaine trust ready to be opened on Christmas???

Member: Yes St Germaine trust supposedly opens on Xmas..hope this is the year it finally does.

MZ: Its been fairly quiet on RV related news…

MZ: “The Chinese Yuan’s share of global payments climbs to a record high while US dollar’s share dips” This is huge. Now the 4 most popular ways to settle debt around the world is the USD, The Euro , British pound and Chinese Renimbi or Yuan.

MZ: “China and Russia have almost completely abandoned the US dollar in bilateral trade as the push to de-dollarize intensifies” More that 96% of the trade is now done in their own currencies.

Member: Mark Got info from my platform saying nothing until next year because of some percentage of redemption that someone wants.

MZ: Next year is only a week and a half away…but, I have not heard anything from any of my groups on that. We have seen a tremendous amount of disinformation over the last 24 hours in the bond side and group side. It is honestly to keep people off-kilter so they do not know what to expect for timing right now…...

Member: Mark, I am hearing some farm claims got paid. Coming to you to verify

MZ: What I am hearing on the farm claims is nobody has their full dollars…but a number of farm claim recipients got about a $150 deposit and were asked if the deposit went smoothly. 2 of my folks say the deposit came from the US Treasury direct. Which would make sense. Do I think farm claims have been paid?-No. But, do I think they are testing the system and the contact info for payouts……yes I do- that is what I think was done. .

Member: I bet they will be glad to work a holiday for the RV. They too have trained hard and waiting for this as well. Bless them all.

Member: Got interesting news today from a friend who went to his bank. They told him their system had been hacked, as well as other banks such as BoA.

Member: My bank atm was down since Jan 2023. Just last month they got a new one. fancy one lol

Member: Florida Currency Exchange in Tampa said the will exchange Iraqi Dinars if the revaluation occurs. then said he was restricted in what he could say.

Member: Just received about 30 minutes ago from one of my trusted sources that liquidity is confirmed. That's all I'm going to say about that. Stay grounded my friends. It's happening as we speak.

Member: Remember Kuwait said they were going to take months to RV in the morning….Then they RV’d later that same day?.

MZ: Yes they said they were 6-9 months off…then that same day-BAM

Member: Merry Christmas to all of you. If we don’t RV before 2024 everyone stay positive we will get there

Member: Merry Christmas and a Prosperous New Year to us all!!!! Praise God

Member: God bless you all Mark and Mods..Happiest of Holidays and you are all very special and blessed...

“THE INFORMATION IN THIS PODCAST IS FOR GENERAL & EDUCATIONAL PURPOSES ONLY. NOT INTENDED TO PROVIDE ANY PROFESSIONAL & LEGAL ADVICE.” PLEASE CONSIDER EVERYTHING DISCUSSED IS IN MARKZ’S OPINION ONLY

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Note from PDK: Please listen to the replay for all the details and entire stream….I do not transcribe political opinions, divisive social commentary,medical opinions or many guests on this stream……just RV/currency related topics.

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Mod: MarkZ "Back To Basics" Pre-Recorded Call" for Newbies 10-19-2022 ) https://www.youtube.com/watch?v=37oILmAlptM

THANK YOU ALL FOR JOINING. HAVE A BLESSED NIGHT! SEE YOU ALL IN THE MORNING FOR COFFEE @ 9:45 AM EST ~ UNLESS BREAKING NEWS HAPPENS!

"BANK STORY" BY FRANK26

Frank26

[Bank Story]

BANK STORY WOMAN: I just spoke to a representative of the company for whom I purchased my currency. I asked, when the reinstatement occurs what happens from your end? She said when the revaluation occurs...we will be notified by the United States Treasury. We will then notify all of our customers.

FRANK: I find that interesting, so this bank is saying they have the addresses and phone numbers of the people they sold dinars to. Like I told you, they're going to come after you. They want you badly.

BANK STORY WOMAN: I was struck by the fact that she spoke of the RI as a matter of fact which will occur. She did not deny it.

FRANK: Like I've been saying to you sister, it's not a secret.

New Dollar Shipments May Reduce The Exchange Rate In Iraq , 22 DEC

New Dollar Shipments May Reduce The Exchange Rate In Iraq

December 21, 2023 Last updated: December 21, 2023 Independent / - Iraq is awaiting new dollar shipments imported by government and private banks after the recent agreements between the Central Bank of Iraq and the American side. It is hoped that they will contribute to curbing and reducing exchange rates in the parallel market.

Although government sales are made at a price of 132 thousand dinars per hundred dollars, prices in the parallel market currently range between 153 thousand and 155 thousand per hundred dollars.

Central Bank And Government Actions

The head of the Association of Private Banks, Wadih Al-Handal, said, “The recent measures of the Central Bank of Iraq and the government, with regard to facilitating trade financing using new currencies, represented by the euro, the dirham, the Chinese yuan, and the Indian rupee, are a step that contributes to reducing the exchange rate of the dollar in the parallel market,” noting that “ “The regulation of trade financing carried out by the government and the central bank through the entry of other goods into the platform will lead to an increase in trade financing.”

He confirmed in a statement to his independent newspaper, Al-Sabah, that

“private banks are taking great steps in expanding international relations with international banks, which facilitates the financing of Iraqi trade with countries of the world,” explaining that

“the Prime Minister’s great support for the private sector is considered the beginning of reforming the economy.” "The Iraqi sector, especially since

the private sector is an important partner to the government, in providing services and jobs and reducing poverty."

Use the instructions of the Central Bank

For his part, economic expert Dr. Mustafa Hantoush explained to “Al-Sabah”:

The Central Bank used Instructions No. 4 of 2011 regarding the import of currency by banks licensed in the country that have the right to carry out this process to enhance capital or for the purposes of addressing monetary crises. He added that

the US Federal Bank had earlier reduced the dollar payments that were delivered to the Central Bank due to money laundering and the seizure of the dollar by some countries close to Iraq, but

the Central Bank agreed with the US Treasury on a successful and correct step to support local banks by establishing relationships with foreign banks. And the gradual transition of operations to enhance the balance of its accounts, which is consistent with what the bank previously announced in its plan to gradually reduce dependence on the electronic platform until it ends its work next year. Hantoush stated that

Capital Enhancement

there are banking transactions and deposits received in dollars, and related operations were carried out in dinars with the approval of the Central Bank, because the depositor requests dollars or transfers coming from abroad that are deposited in bank accounts, and

there is no payment in dollars except in dinars, which requires strengthening capital, and according to this process, the Central Bank Al-Iraqi agreed with the US Treasury on a successful step in this regard. He continued that

the American side deals as a merchant, concerned with the issue of profit, by imposing a reduction in the supply of the dollar, but

on the other hand, when it sees its banks and companies making a profit, it agrees to most of the procedures, and it is a theory that it follows in managing the world economically.

New Shipments

It is noteworthy that a government source revealed that government and private banks imported $255 million within two weeks, and that

a number of other requests to import the dollar are on their way to being audited and implemented, with other amounts expected to arrive within the next few days.

The Importance Of Financing Small Merchants

In turn, Imad Al-Muhammadawi, who is interested in economic affairs, told Al-Sabah:

The steps taken by the Central Bank, represented by approaching banks to finance small merchants from Turkey in the euro, are extremely important as it reduces the burden and crises of using the dollar in commercial transactions. He pointed out that

this step will contribute to encouraging Iraqi merchants to import goods from Turkey, in a way that serves the Iraqi economy and the needs of citizens. Al-Mohammadawi concluded that

these measures are positive and indicate that the government seeks to address the problem of the high exchange rate in the country, but

it is important that these efforts continue and be integrated with other measures, such as combating corruption and supporting local production.

https://mustaqila.com/شحنات-دولارية-جديدة-قد-تخفض-سعر-الصرف-ف/

"RV UPDATE" BY PIMPY, 22 DEC

Pimpy

With them taking away the US dollar there's some logic to...an increase in Iraqi dinar. Will they?

You're not going to see them go 1 for 1... Nothing would make me happier than to be wrong about this. I would love to go, 'Oh, my gosh, everybody was right and I was wrong. Darn.' As I take my dinar down to the bank...It's not that simple. There are a lot of hurdles and...precautions countries have to take before you do anything that outrageous with your exchange rate.

The best you can hope for is it goes up in increments...You're not going to see any huge significant change in the Iraqi exchange rate despite the fact they're taking away the US dollar.

Article: "Launch of the third annual scientific conference on economic challenges and reform in Iraq" This part is very interesting to me. Quote: "Restructuring the general budget"

Why would they have to restructure the general budget unless there's about to be some changes made. I don't want to get all crazy and make assumptions that it has something to do with the change in the exchange rate but I find this very interesting. Like I said, if they're going to ever change the exchange rate they usually do it at the end of the year or the beginning of the year so everybody could do what?

Restructure their budgets for the year...I do find this interesting...my ears are perking...what do you got going on over there Iraq?

It’s been only 6 moth 20% of the budget in 6 months it’s to much Iqd Iraq BY NADER FROM MID EAST

AL-SUDANI: THE IRANIAN SIDE HAS NO PROBLEM IN DEALING COMMERCIALLY WITH IRAQ USING DINARS OR TOMANS: ANALYSIS BY MNT GOAT, 22 DEC

AL-SUDANI: THE IRANIAN SIDE HAS NO PROBLEM IN DEALING COMMERCIALLY WITH IRAQ USING DINARS OR TOMANS

Prime Minister Muhammad Shiaa Al-Sudani said today, Thursday, that: “Economic reform begins with the financial and banking sectors,” while noting that “the government is committed to providing the dollar at the official rate,” and stressed that “there is no problem on the Iranian side in dealing commercially with Iraq in dinars.” Or toman. Al-Sudani said in a televised interview followed by “Al-Mutala’” that: “Conducting the population census, the first step in implementing Article 140 of the Constitution, was postponed to May 2024 after it was scheduled to be conducted this year due to the governorate council elections,” pointing out that “the time has come to lift the census.”

The outstanding problems between Baghdad and Erbil lie in the border crossings and the budget.” He added, “We went to borrow from the Ministry of Finance to pay the salaries of the employees of the Kurdistan region, and we are in favor of finding a solution with a legal amendment that considers the employees of the Kurdistan region as equal to the rest of the employees of Iraq,” stressing, “The government is keen to end the suffering of the Kurdistan employees’ salaries crisis.” On the other hand, he stressed, “Economic reform is the gateway to financial and banking reform, and the issue of the exchange rate requires this reform. We are committed to providing the dollar at the official rate to merchants, investors, contractors, students, and travelers.

” He pointed out, “95 percent of our trade now passes through the electronic platform, and there are those who circumvent the law and buy the dollar at the parallel price because they do not want to apply legal procedures.” He stressed, “We will not accept that the official price of the dollar be equal to the parallel price, because that would encourage smuggling.” Regarding foreign trade, Al-Sudani said: “The Iranian side has no problem in dealing commercially with Iraq in the dinar or toman currencies.”

He continued: “The problem of commercial transfers to Turkey has been solved by opening accounts in the Turkish lira.” He stressed that “food prices remained stable, despite the attempts of manipulators to speculate on the price of the dollar.”

https://mntgoatnewsusa.com/latest-mnt-goat-newsletter/

Has the oil and gas law reached the House of Representatives?.. A parliamentarian answers, 22 DEC

Has the oil and gas law reached the House of Representatives?.. A parliamentarian answers

Has the oil and gas law reached the House of Representatives.. A parliamentarian answersInformation/private..
Today, Thursday, a member of the House of Representatives, Jassim Al-Alawi, revealed the fact that the oil and gas law has reached the House of Representatives in preparation for its approval in the upcoming sessions, while he confirmed that the law is still in the corridors of the government and the Council of Ministers until now.

Al-Moussawi said, in an interview with the Maalouma Agency, that “the law has not yet been sent by the government in order to complete the addition of some new paragraphs and articles,” noting that “we expect the law to be pushed forward by the Council of Ministers during the coming period.”

He continued, “Sending the law and approving it in the House of Representatives represents a cry to implement justice, legal and constitutional provisions, and distribute the country’s wealth equally,” noting that “the law is still in the corridors of the government and the Council of Ministers until now.” 

Former Member of Parliament, Jassem Muhammad Jaafar, had confirmed in an interview with the Al-Ma’louma Agency, that “the first objection was against the paragraph of the National Marketing Company (SOMO)’s control over the operations of extracting, exporting, and selling oil and gas,” noting that “all the articles to which the parties object “Kurdism is not legal and constitutional, but in order to continue seizing the country’s resources.”

The Kurdish parties continue to obstruct the government in approving the oil and gas law, which a vote on within the corridors of Parliament has become a must, in order to end the violations and thefts carried out by the Kurdistan Regional Government in the oil smuggling file in isolation from the central government and the seizure of revenue funds in general.

almaalomah.me

"RV UPDATE" BY MILITIAMAN, 22 DEC

Militia Man

Since November of last year they have been working to do what? Get rid of the parallel market. And how are they doing that? They're populating banks with many other currencies. They're doing all those things that are necessary to do what? Be article VIII compliant, to have a single currency, not a dual currency country. They're getting rid of multi-currency practices.

They're talking about reducing Iraq's dependence on oil. Dependence on oil is going to go away because they have non oil related products...services...and sectors. That's going to be from the taxes and tariffs at the borders, imports, exports, natural resources. They're going to have other than just oil. They're going to have other circumstances...They're talking about 350 million ton of sulfur...They're trying to achieve sustainability for the private sector..

Everybody knows Iraq is about to go International and they're going to have a digital transformation ...When they have this investment budget and they start spending...Iraq is going to be filthy rich with revenue streams from the electronic borders, agriculture, tourism... mining, sulfur, phosphates...they're going to have revenue like no other.

There isn't anything else like it, in my lifetime, that I can see is going to trump Iraq... Don't forget...Iraq has a massive amount of hydrogen for clean energy...nobody else is talking about it...The amount of money and revenue streams Iraq is going to have is almost incomprehensible...It really is intense on how much money these guys are going to make on a regular basis..

https://dinarevaluation.blogspot.com/2023/12/rv-update-by-militiaman-21-dec.html

IQD Exchange Rate IMPORTANT News IMF Meeting Economic Outlook BY SANDY INGRAM

"IRAQ BOOTS ON THE GROUND REPORT" BY FIREFLY, 22 DEC

Frank26

[Iraq boots-on-the-ground report]

FIREFLY: Sudani has statement to us citizens to be on watch for change in the dinar pricing for goods in our market.

FRANK: [Happy fist pump yes!] How much time is there left!?

Sudanese Advisor: The dollar is declining, prices are stabilizing, and expectations are optimistic, 22 DEC

Sudanese Advisor: The dollar is declining, prices are stabilizing, and expectations are optimistic

Sudanese Advisor - The dollar is declining prices are stabilizing and expectations are optimisticMazhar Muhammad Salih, Advisor to the Prime Minister for Financial Affairs, announced today, Thursday, a decline in the annual growth of prices in Iraq, according to a statement by international monetary experts during their recent consultations with the Iraqi official side.

Saleh told the official agency, followed by the 964 Network , that “according to what was announced by the statement of the International Monetary Fund expert delegation in its recent consultations with the official Iraqi side,” the growth rate in non-oil GDP is expected to reach about positive 5%, and in our estimate that this The optimistic expectations reflect great economic dynamism in the growth movement of the real and service sectors outside the oil sector, as a result of the renaissance of investment in the construction sector, infrastructure, digital services and various interconnected activities. This increase in growth is equivalent to almost twice the growth of the population, which means that it has positive effects on the prosperity of… Individual income growth is linked to the level of employment, use of human resources, and reducing unemployment rates.”

He added, “Price spikes may occur individually, but what concerns us is the stability of the general level of prices, so it is noted that the increase in growth in price rates is decreasing, as the annual growth rate of prices decreased from 7% last January to 3.7% last month.” November of this year compared to November of last year.”

Saleh continued, “On the other hand, the exchange rate in the unregulated market has not witnessed new rises. Rather, today it is in a gradual decline. The more regular the work of the compliance platform is and the more banks respond to anti-money laundering requirements in a transparent manner, the more transfers will increase through the external transfer platform, which is the responsible platform.” On meeting the private sector’s foreign currency needs by 85% to finance trade.” 

He noted that “the needs of travelers are met through two ways: credit cards and cash dollars, and that private banks have imported cash dollars for themselves to meet the needs of their customers from their dollar accounts in amounts that have exceeded tens of millions of cash dollars in recent days, and they are continuing normally based on the regulations.” issued by the Central Bank of Iraq in this regard.”

He pointed out that “the commodity market has begun to be supported by a diversified commodity supply through the movement of additional government imports, especially food, medicine, building supplies and spare parts, all of which are supplied at a fixed exchange rate of 1,320 dinars per dollar, which is the factor that contributes to the stability of the general price level and counters market noise.” Illegal and irregular exchange accounts for only 10% of foreign currency circulation.”

964media.com

WILL AGREEMENTS WITH INTERNATIONAL BANKS CONTRIBUTE TO SOLVING THE MONETARY PROBLEM IN IRAQ? : ANALYSIS BY MNT GOAT, 22 DEC

WILL AGREEMENTS WITH INTERNATIONAL BANKS CONTRIBUTE TO SOLVING THE MONETARY PROBLEM IN IRAQ?

Economic researcher, Ziad Al-Hashemi, confirmed on Friday that the agreements with the banks of the Emirati First Gulf, Turkish Labor, Singaporean Development and others will not end the monetary problem in Iraq.

Al-Hashemi said in a post on the “X” platform followed by “Newspaper”, that “it is expected that these agreements will provide multiple cash alternatives that will help the merchant.” Iraqis can transfer their trade funds quickly and flexibly and reduce dependence on the dollar in foreign transactions.”

He explained, “These agreements will also help reduce the demand for the parallel dollar by attracting the segment of merchants who previously turned to the parallel dollar in search of quick transfers away from the platform, its complications, and delayed approvals.”

He added, “However, the demand for the cash dollar will remain high, and the official dollar will continue to be withdrawn and converted into a parallel dollar by powerful parties that own huge amounts of dinars, and have no relation to regular or official commercial work, and will continue to put pressure on the Iraqi economy to obtain the dollar in all ways and means.”

He continued, “This fact was confirmed by the exchange rates during this period, which maintained their high levels and did not decline despite these agreements and despite hundreds of millions of (imported dollars). This is what makes the exchange rates ready to rise at any moment and with any new event.”

He stated, “Despite the Federal Reserve’s tightening and the Central Bank’s attempts, it is expected that the problem of the cash dollar, the parallel dollar, and the imbalance in exchange rates will continue with us during the coming year, and we are waiting for more stringent, serious, and courageous solutions to end this problem from its roots.”

https://mntgoatnewsusa.com/latest-mnt-goat-newsletter/

PM Al-Sudani's Clear Message Strengthening the and Adding Value to the I...

"RV UPDATE" BY MNT GOAT , 22 DEC

MNT GOAT

So, below is proof of what I am talking about when it comes to Iraq. The CBI already stated back in March of this year and I quote from the article below – “it was decided to prevent the use of electronic cards and wallets for the purpose of speculation and trading in digital currencies of all kinds.”

To me it can not be any clearer that Iraq is NOT moving towards the CBDC saga. Some idiot intel gurus even say that this is holding up the RV as they want to digitize the dinar first. How stupid can you get? Also these same idiots tell us the Project to Delete the Zeros has been cancelled as they no longer will need the newer lower denominations once they digitize the dinar. So there is no longer a need to look for the project to be conducted even. How stupid is stupid? This of course is all just nonsense and I am proving it to you today.

Here is the full article below from March 29, 2023:

IRAQ CBI: TRADING IN DIGITAL CURRENCIES

We affirm what was stated in our circular No. (125/5/9) on 3/29/2022, in which it was decided to prevent the use of electronic cards and wallets for the purpose of speculation and trading in digital currencies of all kinds, with the necessity of the commitment of all licensed banks and all licensed non-bank financial institutions and all electronic payment companies with the following:

Take all necessary administrative, legal and technical measures to prevent and track such types of transactions and trades.

Educate your customers about the risks and procedures that will be taken against them according to the laws and instructions in force related to these transactions and trades.

Otherwise, all strict legal measures will be taken against your institutions and customers in accordance with the Anti-Money Laundering and Terrorist Financing Law No. (39) of 2015 and the instructions issued thereunder in the event of non-compliance with the above.

Below are yet more articles also from the past as to why they have to delete the zeroes from the dinar. Remember also that months ago the CBI did come out with an announcement that the Project to Delete the Zeros is still on the table. These articles below are the type of articles we would now expect to see, if in fact, they were getting ready to conduct the project now. But we are NOT seeing them why? I do not think they intend to do the project in the coming period. In fact I was told by the CBI they are not!

REASONS TO DELETE THREE ZEROS FROM THE IRAQI DINAR AND WHAT IT MEANS TO DELETE THE ZEROS FROM CURRENCY

Omar Al-Fateh 16/11/12 economy

The reasons for deleting three zeros from the Iraqi dinar and what it means to delete the three zeroes from the Iraqi currency, the fact deleting three zeros from the Iraqi dinar, the official source at the Central Bank of Iraq, said that the beginning of the beginning of 2017, will the central Bey Iraqi deleting three zeros from the currency of Iraq, Finance Committee also announced in parliament that the central bank will start at the beginning of 2017 by deleting three zeros from the local currency, in other words, that the unity of the coin in 1000 dinars from the old currency will be replaced by only one denarius of the new currency, and so on.

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START PROCEDURES TO DELETE THREE ZEROS FROM THE CURRENCY IN 2017

Going on in the minds of many Iraqis that the important question of whether to raise (the zeros from the Iraqi dinar) harm or benefit? Thus why do not we raise the zeros, the official source in the Iraqi Central Bank stressed that the purpose of deleting three zeros from the currency of Iraq is to lift the economy and prosperity to raise support for the dinar, which will be a key reason for the return of Iraq’s economy again in January 2017, the step by Iraq intended to reform the local currency system based on the use of the currency too high denominations, which leads to difficulties in handling and in private transactions accounts, as well as higher prices resulting from the use of monetary units higher categories, which leads to a decline in the currency and declining purchasing power exchange rate the dinar in a big way.

CBI decision to remove three zeros from the Iraqi dinar

Iraqi Central Bank chairman said that the deletion of three zeros from the Iraqi dinar will help in flourishing once again the Iraqi economy and the return of the Iraqi currency traded in international stock markets, the deletion of zeros restore Iraqi currency mind in periods of monetary turmoil and declining public revenues of the state at a time when the expenses increase, resort states often to print more of the local currency, leading to price hikes and the occurrence of high inflation, the need to cross categories with high currencies such as the one thousand and one million one hundred thousand … etc., and with every raise in the denomination as the economy enters the furnace of inflation.

Why delete the three zeroes from the Iraqi dinar

The aim of deleting three zeros from the currency of Iraq is one of the means to control the high inflation is monetary reform, coupled with a change in monetary policy by the old currency high Pfiadtha replacement of a new currency with lower categories so prices tend to decline, but does he have on inflation? The answer is no, because the elimination of inflation is required to follow state moderate monetary policy, an official at the Central Bank of Iraq and stressed that the Iraqi dinar will be the vital currency in global stock markets and the central bank is currently discussing the principles of starting the project and its laws on the beginning of the project of the year 2017 and stressed that the new currency will not have a significant impact on the major currencies, but will raise the Iraqi economy.

https://www.alasemanews.com/44182

From an Egyptian news site …. remember all the trips to and from ….and talks ….with Egypt in articles earlier this year … IMO

Having said all this today there is HOPE is all area of prosperity and abundance. It is all coming be patient.

https://mntgoatnewsusa.com/latest-mnt-goat-newsletter/