Sandy Ingram
The Central Bank of Iraq denied issuing a new currency denomination. The decision highlights the bank's confidence in the strength and stability of the Iraqi dinar, Even as other economies toy with the idea of introducing new denominations..
No one in the Middle East wants big daddy America to make Iraq wealthy. Oh, wait, Iraq is already wealthy. It's just a matter of maximizing, investing and building the infrastructure for long-term wealth...It's only a matter of time before Iraq opens the gates to massive success.
Last week marked a sensational milestone for the central bank of Iraq. In a stunning financial twist, foreign remittance sales skyrocketed by a whopping 90%, surpassing cash sales by over $252 million...The majority of these sales...were strategically utilized to bolster balances abroad through remittances and credits. By regulating the flow of foreign currency the central bank instills robust confidence managing Iraq's balance of payments.
A [Community member] wrote and then deleted the following comment in response to...the results of the emergency budget meeting, 'The rate is still 1310 for the next budget year. At least now everyone can shut down...until next year. ' Sandy Ingram: No that is not true. Things are happening in the Middle East, and they are happening fast.
Several members of the UN Security Council including Russia and china...backed Baghdad's request for the world body's political mission in Iraq to shut down by next year. Washington did not immediately offer its support.
It is hard to believe Iraq did not have certain banking capabilities until now...We understand why my ex-husband a retired banker with the Federal Reserve Bank and his peers believed the dinar would not revalue. It appears until Iraq updated its banking system the country could not participate in the global financial platforms...----The bankers in the US never explained the reasons for their negative attitude towards the Iraqi dinar.
The IQD was not convertible to other currencies on global markets before the 2003 invasion...Rates, which were $3.21 IQD to 1 US dollar in July 2003 means little if the currency is not exchangeable on global markets...----People with education in economics say the Iraqi currency will be readily available for exchange in US banks...The question then becomes -
How long will it take US banks to recognize the currency after the initial increase in Iraq? Oh, you believe it will all happen on the same day?
We would hope so, however this is unlikely... Savvy investors may have to travel for the exchange rate...If Iraq says the IQD is worth 1 USD to Iraqi dinar will you wait for the United States to say the same thing or will you travel to a bank that says the Iraqi dinar value equals $1? ... We hope the naysayer are right and we can all walk into our banks in the United States and exchange our IQD bank notes for US dollars
https://dinarevaluation.blogspot.com/2024/05/rv-update-by-sandy-ingram-13-may.html
The World Bank is working with the Iraqi Finance Minister to implement banking reform as quickly as possible...things are happening fast.
Shocking documents from Iraq's Federal Board of Supreme Audit have uncovered a massive corruption scheme. Over 151,000 citizens were involved in the illicit buying of US currency...[They] obtained dollars at the official state rate for travel purposes but never left the country. The black market refers to them as "ghost travelers".
[We] are thinking the Iraqis sold the dollars for more money than they invested. As a result of the corruption Iraq's Central Bank employees, private banks, currency exchange companies and tourism firms were all involved. This is a $600 million corruption scam involving the US dollar...
When in Washington, DC he [Al-Sudani] met with the chair of the governing board of the JP Morgan Development Finance Institution (DFI), Daniel Zelikow. Prime Minister Al-Sudani received Mr. Jamie Dimon, the CEO of JPMorgan Chase, and his accompanying delegation on Wednesday during his visit...In Davos, Iraqi Prim Minister al-Sudani with Mr. Khaled Haballah, the regional CEO of JPMorgan Chase for the Middle East and North Africa...
Al-Sudani met with the Iraqi community in Washington DC and other American states on the sidelines of his official visit to the United States. Al-Sudani conveyed gratitude to the Iraqi communities in the US and throughout the world, emphasizing that Iraq is for all Iraqis and that the country needs the knowledge, experiences, opportunities and initiatives of Iraqis in the U.S.
The prime minister indicated the Iraqi government is working on establishing a department for expatriate affairs to be able to communicate effectively with the Iraqi community around the world...
On April 15th President Joe Biden will hold Prime Minister Al-Sudani of Iraq at the White House. This meeting is a crucial opportunity for the United States and Iraq to discuss common priorities and strengthen their bilateral partnership.
https://dinarevaluation.blogspot.com/2024/04/rv-update-by-sandy-ingram-17-april.html
Al-Sudani met with the Iraqi community in Washington DC and other American states on the sidelines of his official visit to the United States. Al-Sudani conveyed gratitude to the Iraqi communities in the US and throughout the world, emphasizing that Iraq is for all Iraqis and that the country needs the knowledge, experiences, opportunities and initiatives of Iraqis in the U.S.
The prime minister indicated the Iraqi government is working on establishing a department for expatriate affairs to be able to communicate effectively with the Iraqi community around the world...
On April 15th President Joe Biden will hold Prime Minister Al-Sudani of Iraq at the White House. This meeting is a crucial opportunity for the United States and Iraq to discuss common priorities and strengthen their bilateral partnership.
https://dinarevaluation.blogspot.com/2024/04/rv-update-by-sandy-ingram-17-april.html
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