"RV UPDATE" BY JEFF, 29 APRIL

JEFF  

The next big step in this is we want to see when Iraq will be amending their budget...They can amend it before or after the rate changes...

 This weekend coming up would be the historical anniversary date of when Kuwait reinstated their currency - March 24, 1991

 Iraq technically does not need to amend the budget if they're not changing their rate.  

The budget already covers their operating expenses.  But they would need surplus funds to cover the reforms.  The reforms are contingent upon the rate changing.  They can't bring these reform package forward if the rate does not change.  The only reason they're amending the budget is because the rate is changing...The step of amending the budget can happen either before or after the rate changes  ... They will probably announce Thursday or Friday as to when they plan to amend the budget, which they'll probably do around this weekend...

https://dinarevaluation.blogspot.com/2024/03/rv-update-by-jeff-22-march.html

 [Response to Guru Jeff's budget/ exchange rate posts 3-19-2024 below]  

They are going to amend the budget with or without a rate change....Does it make sense for you to release the budget before they increase the exchange rate because then you have to turn around and redo the budget and make all the changes to the budget using the new exchange rate.

  So no, it doesn't make sense to release the budget before you change the exchange rate.  You would change the exchange rate then go through and amend all of your budget because the money you've allocated obviously has changed...

The suspension of the funds has to do with corruption.  The reforms can be activated without changing the rate.  They're going to reallocate revenue from oil to help fund all these reforms..

https://dinarevaluation.blogspot.com/2024/03/rv-update-by-pimpy-21-march.html