"RV UPDATE" BY ARIEL, 7 MAY

 Mon. 6 May 2024 Major Update on Dinar, Ariel

Economic affairs expert Safwan Qusay confirmed that financial liquidity is available and there are no high risks regarding the existence of the Iraqi dinar. He pointed out, “Iraq has completed all its financial needs, and the rest of it needs the price of a barrel of oil to reach only $96 to cover the financial deficit.”

The Foreign Currency Exchange Regulations were completed on May 4th, 2024. https://uscode.house.gov/view.xhtml

Foreign Currency Exchange Regulations play a crucial role in the Iraqi Dinar revaluation and conversion to USD in 2024 by ensuring the process is conducted smoothly and transparently. These regulations set the framework for international transactions involving the Iraqi Dinar, which is vital for the currency’s international acceptance and stability. They also help prevent illegal activities like money laundering and support Iraq’s efforts to combat the financing of terrorism.

Economist Muhammad Hashem Helou confirmed that the Central Bank cannot float the dinar exchange rate.
The parallel market is reaching the official price of the REER-(Real Effective Exchange Rate).

Al-Rafidain Bank announced the application of the new platform that will allow electronic banking for Iraqis. Which is the main branch.
The Deputy Chairman of the Parliamentary Planning Committee, Muhammad Karim, confirmed  last Thursday, that the 2024 budget will proceed after completing the changes in its schedules for allocations for governorate and ministries projects.
Atheer Daoud Al Ghurairi, Minister of Commerce of Iraq, has confirmed that Iraq has completed the requirements to join the World Trade Organization (WTO) after completing economic reforms and improving the business environment.
There is an accession ceremony happening on May 9th for 9 countries, Iraq being one of them per article that came out a month ago.