Just because you didn't see it...hear it...read it...doesn't mean it hasn't happened or in the process of happening.
All systems for the monetary reform are in place, they're just not linked yet. The uplink is not on yet...Many months ago the CBI told her banks to be prepared to be ready on January 1, 2024 because of all the banking system would be in place before '24...
What they're doing right now is they're telling the citizens what they need to hear for the next step of the monetary reform...Once the lower denoms are announced the exchange inside Iraq will move even more quickly. You know how - through a float. Citizens want this movement to occur now. Citizens want their purchasing power.
Absolute parliamentary support for Sudan's steps to end the US presence
Information / Baghdad.
The Sadiqoun parliamentary bloc announced on Saturday its full support for Prime Minister Mohamed Shia al-Sudani's steps to end the foreign presence in the country and achieve national autonomy.
MP Rafiq Hashem told Al-Maalouma that "the removal of foreign forces, led by the Americans, from Iraq is the best response to the US terrorist attacks against the headquarters of the Popular Mobilization."
He added that "the US foreign presence has become a threat to the security of Iraq," noting that "the stay of these forces for a longer period is an obstacle to national autonomy."
He stressed that "the steps of the Prime Minister to end the foreign presence and achieve full national autonomy is a step in the right direction," noting that "the Iraqi people do not want these forces to remain under any title."
Most Iraqi political forces have issued their support to the prime minister on steps to remove US forces from Iraq after a series of attacks against Iraqi security forces.
The World Economic Forum’s Annual Meeting 2024 takes place 15-19 January 2024.
The 54th Annual Meeting of the World Economic Forum will provide a crucial space to focus on the fundamental principles driving trust, including transparency, consistency and accountability.
This Annual Meeting will welcome over 100 governments, all major international organizations, 1000 Forum’s Partners, as well as civil society leaders, experts, youth representatives, social entrepreneurs, and news outlets.
Freight rates for ocean cargo have soared after an attempted attack on Wednesday and a bid to hijack a Maersk ship last Sunday forced shipping companies to suspend plans to restart transits through the Red Sea.
“Interest rate differentials are an important factor in the global economy. They can affect the flow of capital between countries, the value of currencies, and the profitability of investments.”
An interest rate differential is basically two different interest rates in two different countries or currencies. At this point, we are witnessing several different ones across the globe.
These interest rate differentials affect values and exchange rates in trade. It is creating a problem for hedge funders wanting to make clear trade bids on the Forex Markets based on a value they can profit from in the trade.
Uncertain interest rates is beginning to create a level of uncertainty for hedge funders attempting to position themselves for profit on the Forex Currency Market in Cross Border International Trading.
Uncertainty in the market creates pullbacks from investors that bring down the flow of money creating less demand and value for currencies utilized in trades.
A great example of this is the use of the dollar in oil trades being replaced by local currencies in the East. As these new volumes increase because of interest rate differentials, countries holding more value over time will be the ones utilized in trades going forward.
These new demands will increase value over time on chosen currencies with lower interest rates resulting in more value in the exchange of goods and services. Look for currency interventions this year to begin the process of leveling off the playing field through narrowing interest rate differentials.
A high-level delegation of the Kurdistan Regional Government arrived in Baghdad today, Saturday, and tomorrow it will begin its meetings with federal government officials. The Kurdistan Regional Government said in a statement received by Al-Mutla’, that: “A high-level delegation from the Kurdistan Regional Government arrived in Baghdad to discuss the issue of employee salaries and amending the budget law, the region’s share, and the oil production law. It is worth noting that the delegation is headed by Awat Janab Nouri, Minister of Finance.” The region, Omid Sabah, Chief of the Cabinet Office, Amanj Rahim Amin, Secretary of the Council of Ministers, and Abdul Karim Khosrow, Head of the Coordination and Follow-up Office.
FIREFLY: CBI on news saying they have taken measures and decisions on supporting the dinar and maintaining its value against other currencies in the world talking about how CBI fully supports and back dinar and how it will be holding its own against other currencies. Saying this will positively affect the exchange rate.
FRANK: I am excited that they are giving you deeper information about the monetary reform and how it’s going to add value to your currency and I love how they keep saying in the coming days let’s see what happens around 15 January.
FIREFLY:Financial expert on TV saying there will be changes to the value to the Iraqi dinar after the new year.
FRANK: The CBI, without any fear, without pulling any punches back, they flat out tell you the beginning for next year your currency will have value added to it. Of course, because you won't be able to use any other currency in your country.
Therefore the sanctioned, punished program, used toilet paper rate of your 3-zero notes is going away...You are about to be a powerful linchpin in the financial theater of this world. Iraq is about to change as quickly as darkness turns into light. Get ready, you are about to walk with elegance and grace once again.
FIREFLY: The television is talking about how Iraq and a basket of currencies will help to reduce the dollar rate. They are already talking about the yuan and rupee... The government is saying we aspire to end the parallel market dollar in the coming days.
FIREFLY: We have a special on TV and they say the Iraqi dinar wins the struggle against the dollar and wins control of the markets…
FRANK: The goal of the last few weeks has been to bring the market rate parallel with the dollar rate. Remember the CBI can’t touch the dollar value but they can touch the value of your currency of the dinar… They have been victorious of reducing the value of their enemy foreign currency like the American dollar and all foreign currency in your country verses your national currency which is at 1310 right now. But that rate is now in a position to change because of all the success of the monetary reform from the CBI and Sudani. That’s all there is to it.
The black market rate will no longer be…The black market rate is the American dollar. The CBI wants the official rate 1310 to match the dollar rate. That means the currency of Iraq is too low… Slowly we’re having a reciprocal effect where the dollar is going down and the dinar is going up…
Question: “Can any country RV their currency whenever they want?”
Yeah but they have to go through the IMF. That’s what the International Monetary Fund does – they regulate all the banks around the world and allow them to either increase, decrease, print new currency, destroy their currency, change their exchange rate. There is a systematic way of doing it. They’re called international banking laws.
FIREFLY:Financial expert on TV saying there will be changes to the value to the Iraqi dinar after the new year.
FRANK: The CBI, without any fear, without pulling any punches back, they flat out tell you the beginning for next year your currency will have value added to it. Of course, because you won't be able to use any other currency in your country.
Therefore the sanctioned, punished program, used toilet paper rate of your 3-zero notes is going away...You are about to be a powerful linchpin in the financial theater of this world. Iraq is about to change as quickly as darkness turns into light. Get ready, you are about to walk with elegance and grace once again.
Kurdish politician Sardar Mustafa confirmed, on Saturday (January 6, 2024), that the Kurdistan region is part of Iraq and is affected by any security or political event in Iraq and the region.
Mustafa said in an interview with Baghdad today that “the region cannot support the exit of the international coalition from Iraq at the present time, as the coalition provides military and financial assistance to the Peshmerga forces.”
He added that “there are security concerns in the region that the withdrawal of the coalition may lead to an escalation of attacks against the region, and the increased risk of extremist groups, including ISIS.”
Mustafa pointed out that “any collapse of the security situation means this time the region entering the arena of war, this time is different from the previous times that Kurdistan was moving away from the arena of conflict, this time things seem different, and the region will be a party to the conflict, whether he wanted or father.”
Baghdad announced, on Friday (January 5, 2024), the formation of a bilateral committee with the United States, whose task is to determine arrangements for the termination of the mission of the international coalition to combat ISIS, led by Washington, in Iraq.
“We are in the process of determining the date for the start of the dialogue, through the bilateral committee that was formed to determine the arrangements for the end of this presence, a commitment that the government will not retract, and will not abandon everything that would complete national sovereignty over the land, sky and waters of Iraq,” Prime Minister, Mohammed Shiaaa Al-Sudani, said.
Al-Sudani stressed “the firm and principled position in ending the existence of the international coalition after the justifications for its existence ended.”
There are approximately 2,500 U.S. troops in Iraq, as part of Washington’s efforts to prevent the return of ISIS, which occupied large areas of Iraq and Syria in 2014.
The formation of the committee comes a day after a drone targeted the headquarters of the “Al-Nujaba Movement”, which is part of the “Popular Mobilization” factions, which resulted in the martyrdom of the military official of the movement, Talib Ali Al-Saidi, nicknamed “Abu Taqwa.” Other elements were also martyred after the strike, according to those close to Al-Nujaba.
In a statement to Al-Hurra, a military official in the Pentagon explained that at 12 noon Iraq time, the US forces took a necessary and proportionate measure against Abu Taqwa, an official in the Nujaba movement, who was “involved in planning and launching attacks against American forces.”
The official added that the airstrike killed Abu Taqwa and another element.
“The air strike was launched in self-defense, did not harm civilians and no infrastructure or facility was hit,” he continued.
A U.S. official has previously confirmed that the United States “continues to take action to protect its forces in Iraq and Syria, and by addressing the threats it faces.”
The developments followed more than 110 attacks by U.S. forces in Iraq and Syria since mid-October.
On the other hand, Al-Sudani said, on Friday, that “the most serious incidents are repeated more than once in Iraq through the international coalition forces carrying out attacks against the headquarters of the Popular Mobilization,” adding: “We have repeatedly stressed that in the event of a breach or abuse by any Iraqi party, or if Iraqi law is violated, the Iraqi government is the only party that has to follow up on the reas for these violations.”
THE IRAQI DINAR IS OUTSIDE THE LIST OF THE 15 WORST-PERFORMING CURRENCIES AGAINST THE DOLLAR IN 2023
The Lebanese pound was the worst-performing currency in 2023, as it fell by nearly 90% against the dollar, according to Bloomberg data.
As for the Argentine peso, it ranked second on the list, recording a decline of 78%, followed by the Nigerian naira, which declined by about 50% against the dollar at the end of last year.
The list below that did not witness the presence of the Iraqi dinar:
It is worth noting that data Bloomberg the official currency rates are based on central banks.
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PARLIAMENTARY ECONOMY DETERMINES THE FEATURES OF THE IMPACT OF “DOLLARIZATION” IN 2024
On Tuesday, member of the Parliamentary Economics Committee, Hussein Habib, identified the most prominent features of the impact of the continued dependence on the dollar on the country’s economy during 2024.
Habib said in an interview with Al-Maalouma, “Any decrease in the exchange rate of the dollar against the dinar is positive and will enhance the value of the latter and address the price pressure suffered by millions of people below the poverty line in the country, but on the other hand, any decrease cannot be achieved through wishes, but rather according to mechanisms.” An organization that adopts addresses the reason for the demand to buy the dollar from the parallel market.”
He added, “Dollarization has created exceptional conditions for Iraq’s economy in light of the import of approximately 90% of the market’s needs from abroad. That is, we export the dollar in the absence of industry, not to mention the impact of other sectors, including hospitals, because large numbers of citizens are forced to travel for the purpose of treatment and spend large sums of money.”
He pointed out that “dollarization, in reference to the parallel market, will remain influential in the economy as long as there is an absence of industry and production in large proportions, pointing to the necessity of openness to safe investment that attracts capital and restores its inflow in terms of rehabilitating services and opening horizons that contribute to expanding the circle of dependence of the dinar instead of the dollar in Internal financial transactions.
The dollar exchange market witnessed a gradual decline before it rose again in recent days amid uncertainty in its activity.
Armed clashes took place, yesterday, Friday, between the Iraqi groups of “Asa’i’ Ahl al-Haq” and “Jund al-Imam” in one of the towns in the city of Basra, during a ceremony organized to commemorate the assassination of the commander of the Iranian Quds Force, Qassem Soleimani, and the deputy head of the “Popular Mobilization”, Abu Mahdi Al-Mondis, which raises concern about the repetition of these clashes and increases the embarrassment of the position of the Iraqi government.
The Basra Mobilization Operations Command confirmed that the clash was carried out by groups it called “undisciplined” to reduce its impact. She stated, in a statement on Friday evening, that “the Popular Mobilization Authority in Basra organized the festival and uncontrolled and non-PF groups provoked sedition among the masses, which led to gunshots,” stressing that “these individuals, who belong to a person named (Alaa Al-Mohammadawi), were arrested and all legal measures will be taken against them.”
For his part, the official of the “Jund al-Imam” group, Alaa Al-Mohammadawi, said on the statement, criticizing his group’s description of the “undisciplined” group. Adding, in a statement, “We regret the statements and statements issued against us that stripped us of our jihadist history in defending the homeland, religion, doctrine and belonging to the holy crowd,” noting that “whatever is issued against us from our skin, we will not respond, in order to preserve the reputation of the mujahideen and the reputation of the crowd,” he said, but we will not accept to be stripped of belonging to the crowd.
The armed clash is not the first of its kind between the factions, as a similar clash took place 10 days ago and confrontations erupted between the military wing of the Sadrist movement, led by Muqtada al-Sadr, “Saraya Al-Peace” and militants from the “Ahl-Haq” militia in the area of the Al-Amel neighborhood in central Baghdad, due to the dispute over the uploading of a large picture that includes Qassem Soleimani and Abu Al-Mahdi Al-Mundis in the region, which is one of the most prominent areas of influence of the Sadrists.
The position of the Iraqi government
A political source familiar with the “new Arab” said that “these confrontations are an inevitable result of different agendas and interests, but the embarrassing thing in them is the position of the government, which represents the rule of the law,” and added, preferring not to be named, that “the frequency of confrontations is an indicator of the deepening state of differences and division between factions whose names have multiple names,” noting that “the government and security forces always seek to calm in order to preserve security.”
The source stressed that “the position of the Iraqi government is embarrassing, as these confrontations are a departure from the law and from the authority of the state and a threat to societal security, and that the government is required to apply the law to everyone, and that its attempts to calm down indicate weak government procedures and weak state authority.”
The scenes of armed clashes between various Iraqi factions with their agendas and destinations, which are repeated in the country’s governorates, raise the Iraqi government’s concern about its serious effects on community security and state authority in general, especially since these factions have a significant military strength and arsenal. As the government and security forces seek to calm down, politicians say the government is required to impose its authority on everyone.
During the past year 2023, the Iraqi provinces, especially Basra, recorded several confrontations, especially between the Asaib Ahl al-Haq group and the “Salam Brigades” group associated with the Sadrist movement, usually because of the struggle for influence, and caused the burning of headquarters and offices between the two parties, in addition to deaths and injuries between the two parties.
[via PDK] There are some very key meetings going on around the world on Iraq...Around the 12th through the 19th…. The banking side keeps telling me to relax because its done…and we should be able to see it soon. Problem is I don’t know what “soon” means anymore.
Article quote: “Today Friday the Central Bank of Iraq revealed measures and decisions to support the Dinar...And maintain its strength against other measures and currencies that will possibly affect the exchange rate..."
It makes sense to me that they are forcing Iraq citizens out of the US dollars and using the dinar before they revalue…then you have all them benefit from the revaluation. Plus its part of de-dollarization in general and strengthens the dinar. To me this story is absolutely enormous .
Question: We keep hearing that Iraq cannot base the RV on just oil. Other than oil…what did Iraq export under Saddam when the dinar was $ 3.48?
MarkZ: Their economy is far more diversified and robust then it was back then when their dinar value was the highest in the world. They used to burn off their natural gas and now it’s a huge commodity. Plus their rare and precious minerals in the ground. And their tourist industry visiting all the historic sites. They are located between some of the largest rivers in the region and used to be the breadbasket of the region. They have far more going for them now then they did when their currency was exponentially higher.
Shafaq News/ Former Iraqi Prime Minister Iyad Allawi said that he “loves” former regime president Saddam Hussein and the leader of the Sadrist movement, Muqtada al-Sadr, for their courage, while he called on the head of the State of Law coalition, Nouri al-Maliki, to apologize to the Iraqis and return the money.
Allawi’s speech came in the “First Line” program, which was broadcast by the Saudi MBC channel last night, and was followed by Shafaq News Agency.
Allawi said, “I am not grateful to America for overthrowing Saddam’s regime, because it destroyed the Iraqi state,” adding, “I did not want war, nor the American tank, nor the dissolution of the Iraqi army, nor the de-Baathification, nor political sectarianism.”
When asked by the program presenter about Saddam Hussein, Allawi said, “I love Saddam Hussein because he is brave and bold, and he was loyal to his friends, his party, and his country.”
Regarding former Prime Minister Nouri al-Maliki, Allawi said, “Maliki must return the money and apologize to the Iraqi people for everything he did.”
He continued, “I love Muqtada al-Sadr and his courage, and I ask him to reconsider his approach and those close to him who deal with him, because many of them were not up to the level of responsibility.”
Allawi also called on the former Deputy Prime Minister, Tariq Al-Hashemi, wanted by the Iraqi judiciary, to “apologize to him and Osama Al-Nujaifi, the former Speaker of Parliament.”
He concluded by saying, “I say to Paul Bremer, do not come to Iraq, neither now nor in the future,” adding, “I would prefer Iraq to be ruled by Saddam Hussein than Paul Bremer.”
The CBI is still closely monitoring the parallel rate...the parallel rate is expected to decline sometime in early January and at least match the CBI “official” rate. At that time the CBI will revalue the “official” rate to much closer to if not at 1000. Then again drive the parallel market to match it. This may take some time but I am being told they are talking weeks and not months... my CBI contact tells me we are almost here now and with the opening and spending of the 2024 budget and currency swaps with other neighboring countries for trade, it should finally break the parallel market and end it.
So, 2023 was an outstanding year for progress in the currency monetary reforms in Iraq. I could hardly believe that so much was done in such a short period of time, if you compare the other 20 years since the 2003 invasion. In today’s news we read multiple articles talking about all this progress and how they have so far managed to get the parallel rate from 160,000 to 145,000.
This is very close to the official CBI rate of 132,000, but not yet there as they expected. My CBI contact is telling me they still want to bring it closer and more stable. Currently there are still too many wide swings too often. It’s all very good signs but now there yet.
My CBI contact tells me they do need it closer and stable and when it does, they will trigger another CBI official rate revaluation. But this will still be the program rate not what we want.
We need to keep our eyes on the CBI “official” rate.
When this rate drops again, I was told they will move ahead on the project to delete the zeros. They want to accomplish this in the month of January and are optimistic they can. So, this is the very good news for today to kick off the new year.
ERBIL (Kurdistan24) – A Kurdistan Regional Government (KRG) delegation is set to visit Baghdad on Saturday afternoon to continue its discussions on the financial issues between Erbil and the federal government, Kurdistan24 has learned.
The delegation is headed by KRG Minister of Finance and Economy Awat Sheik Janab and will stay in the Iraqi capital for a few days.
The Kurdish share in the federal budget as well as amending the three-year budget are part of the meetings’ agenda along with the hydrocarbon bill that is currently being prepared by the federal government.
The upcoming delegation is the first of its kind in 2024.
Although the Kurdish region has transferred the agreed-upon amount, Baghdad has paid far less than what it had initially committed itself to, according to KRG officials.
Since its adoption in early June, KRG diplomats have alleged the budget has not been implemented properly by the government. Instead of paying the Kurdish share, they allege Baghdad has released allowances to Erbil to cover public salaries. The KRG has previously said the 500 billion dinars (over $384 million) provided by Baghdad thus far is not sufficient to pay the salaries.
Hailed as one of the country’s biggest budgets, the state expenditures were set at 198.91 trillion Iraqi dinars ($153 billion), with a deficit of more than 64 trillion dinars (over $48 billion).
The Kurdistan Region’s share in the federal budget is set at 12.67 percent, amounting to more than $12 billion annually.
The management of oil and gas has been among the thorny issues between Erbil and Baghdad for over a decade, leading to the suspension of the Region’s share in previous federal budgets.
We’re ready, we’re almost there… everything is good… Mauricio is MIA (good thing)…movement in Reno…no clue bout Zurich…things happening in Hong Kong…get ready we are that close…we Patriots will not STOP!!!
Article: "Dollar exchange rates in local markets recorded a decline today...this list" The dollar exchange rate is dropping like an anvil in the middle of the pacific ocean.
We are in the waiting phase. Simply in a waiting phase. That's all. There isn't, this needs to be done, that needs to be done, That T crossed, That I dotted. No. We are in a waiting phase.
Question: "When the rate is changed IYO will the Iraqi citizens be exchanging their 3-zero notes in country before the rate is on Forex?" Iraqi citizens don't care about Forex. You care about Forex. Because that's one of the vehicles/platforms that's going to float the currency and go up in value internationally. But inside a dinar is a dinar. Whatever the rate is that they establish, it could be $0.10, it could be a $1.00...that is what they will use inside of their country not outside.
Shafaq News / US President Joe Biden, on Saturday, informed Congress the details of the strike carried out by the army in Baghdad last Thursday, which resulted in the killing of Mushtaq Taleb Al-Saidi, the assistant commander of the Baghdad Belt of operations in the Popular Mobilization, nicknamed “Abu Taqwa”, in a development that may have an impact on the relationship between Washington and Baghdad.
In a letter to the Speaker of the House, Biden said his decision to launch a military strike in Iraq came “as part of his responsibility to protect U.S. citizens,” stressing a willingness to “take further action, as necessary, to address further threats or attacks.”
“I have directed this military action consistent with my responsibility to protect U.S. citizens at home and abroad, and to promote national security, and his external interests, in accordance with my constitutional authority as Commander-in-Chief of the Armed Forces, and as President of the country,” the letter said.
He added that his country “has taken this necessary and proportionate measure in accordance with international law,” considering that the United States “has exercised its inherent right to self-defence, as stipulated in Article 51 of the UN Charter.”
Kurdish politician Sardar Mustafa confirmed, on Saturday (January 6, 2024), that the Kurdistan region is part of Iraq and is affected by any security or political event in Iraq and the region.
Mustafa said in an interview with Baghdad today that “the region cannot support the exit of the international coalition from Iraq at the present time, as the coalition provides military and financial assistance to the Peshmerga forces.”
He added that “there are security concerns in the region that the withdrawal of the coalition may lead to an escalation of attacks against the region, and the increased risk of extremist groups, including ISIS.”
Mustafa pointed out that “any collapse of the security situation means this time the region entering the arena of war, this time is different from the previous times that Kurdistan was moving away from the arena of conflict, this time things seem different, and the region will be a party to the conflict, whether he wanted or father.”
Baghdad announced, on Friday (January 5, 2024), the formation of a bilateral committee with the United States, whose task is to determine arrangements for the termination of the mission of the international coalition to combat ISIS, led by Washington, in Iraq.
“We are in the process of determining the date for the start of the dialogue, through the bilateral committee that was formed to determine the arrangements for the end of this presence, a commitment that the government will not retract, and will not abandon everything that would complete national sovereignty over the land, sky and waters of Iraq,” Prime Minister, Mohammed Shiaaa Al-Sudani, said.
Al-Sudani stressed “the firm and principled position in ending the existence of the international coalition after the justifications for its existence ended.”
There are approximately 2,500 U.S. troops in Iraq, as part of Washington’s efforts to prevent the return of ISIS, which occupied large areas of Iraq and Syria in 2014.
The formation of the committee comes a day after a drone targeted the headquarters of the “Al-Nujaba Movement”, which is part of the “Popular Mobilization” factions, which resulted in the martyrdom of the military official of the movement, Talib Ali Al-Saidi, nicknamed “Abu Taqwa.” Other elements were also martyred after the strike, according to those close to Al-Nujaba.
In a statement to Al-Hurra, a military official in the Pentagon explained that at 12 noon Iraq time, the US forces took a necessary and proportionate measure against Abu Taqwa, an official in the Nujaba movement, who was “involved in planning and launching attacks against American forces.”
The official added that the airstrike killed Abu Taqwa and another element.
“The air strike was launched in self-defense, did not harm civilians and no infrastructure or facility was hit,” he continued.
A U.S. official has previously confirmed that the United States “continues to take action to protect its forces in Iraq and Syria, and by addressing the threats it faces.”
The developments followed more than 110 attacks by U.S. forces in Iraq and Syria since mid-October.
On the other hand, Al-Sudani said, on Friday, that “the most serious incidents are repeated more than once in Iraq through the international coalition forces carrying out attacks against the headquarters of the Popular Mobilization,” adding: “We have repeatedly stressed that in the event of a breach or abuse by any Iraqi party, or if Iraqi law is violated, the Iraqi government is the only party that has to follow up on the reas for these violations.”
I want you all to get ready and start practicing how to open that champagne bottle.
Before that I want you all to sit down and hear some beautiful opera when this happens. I’m sure that song will be enshrined in your memories for many years to come.
Always remember the day and time and where you were when this happens.