DINAR REVALUATION REPORT: Sudani's Promise on RV Decision in 2024, 8 SEPT

 Sudani's Promise on RV Decision in 2024

As of September 7, 2024, discussions about Prime Minister Mohammed Shia' Al Sudani's decision regarding the revaluation (RV) of the Iraqi dinar remain prevalent. 1 Al Sudani's policies have significantly impacted the Iraqi economy, with measures to curb currency smuggling and stabilize the economy being at the forefront of his agenda. 1 These actions have reportedly led to increased government salaries and wages for retirees, and the launch of major development projects. 1

Economic Reforms and Public Perception

Al Sudani's implementation of US Federal Reserve policies aimed at preventing currency smuggling has been a pivotal point in his economic reforms. This has resulted in a reduction in the circulation of US dollars within Iraq and a subsequent increase in the value of the dollar. 1 Such measures have been both praised and criticized, with some factions within the Coordination Framework, an alliance of Shiite parties loyal to Iran, opposing his approach. 1

RV Speculations and Anticipation

Speculations about the RV of the Iraqi dinar have been a topic of discussion, with sources suggesting that the decision might be made this year. 2 However, there is a lack of concrete evidence to support these claims, and no official announcement has been made as of September 7, 2024. 2 Financial analysts and insiders have been monitoring the situation closely, with some expecting developments in the coming days. 2

Political Maneuvering and Elections

The political landscape in Iraq has been marked by maneuvering from the Coordination Framework, which seeks to call for early elections in 2024 or early 2025. 1 This strategy is designed to undermine Al Sudani's position by creating political and economic instability, with the aim of forcing him to step down and preventing his nomination in the upcoming elections.  1

Conclusion

As Prime Minister Mohammed Shia' Al Sudani navigates the complex dynamics of Iraqi politics and economics, the anticipation surrounding the RV of the Iraqi dinar continues to grow. While Al Sudani's policies have garnered support, the political opposition's strategies and the ongoing speculation about the RV's timing underscore the uncertainty and volatility in Iraq's financial future. 1