The Prime Minister, Mr. Muhammad Shiaa Al-Sudani, chaired, this evening, Tuesday, a meeting that included a number of advisors to the Prime Minister. The meeting discussed the file of the Washington visit, and the follow-up of the implementation of the agreements and understandings concluded by the official Iraqi delegation, headed by the Prime Minister, with the American side, during the last visit, based on the government’s approach in closely following up on all the files it is working on, including those related to foreign relations and understandings with Governments of countries, the latest of which is the relationship with the United States.
The meeting witnessed a discussion of the results of the meetings of the Supreme Coordinating Committee (HCC), concerned with activating the framework agreement between Iraq and the United States with its seven axes, as well as a discussion of the important economic partnership file concluded by the Iraqi private sector with major American companies.
Mr. Al-Sudani stressed the importance of following up on the understandings reached between Iraq and the United States in many areas, in order to arrange the bilateral relationship, in a way that serves the highest interests of Iraq. His Excellency pointed to the need to benefit from the competencies that the Iraqi communities abound in reconstruction campaigns and service provision, In implementing the priorities of the government program, His Excellency described these competencies as idle wealth.
The Prime Minister directed the advisors to arrange priorities in following up on the outcomes of the Washington visit, and for each advisor to follow up on a specific file, along with the relevant ministry and the Iraqi embassy in Washington, and to submit what is verified from it to His Excellency. He also directed to appoint a special secretariat for the Supreme Coordination Committee ( HSS), and emphasis on continuing periodic meetings, to follow up and review what has been accomplished.
To strictly say the sole reason they added the three zeros to the Iraqi dinar is policy based inflation is not accurate. Yes, it was the central bank of Iraq that devalued the currency...[and] added the 3 zeros...
The first gulf war you can see what the inflation rates were. 1991 - 180%. That's really high. '92 - 83%. '93 - 207%. 1994 - 448%. 1995 - 387%. When you average all these thing up, by the time we got into re-denomanating the currency and the new Iraqi dinars were created getting away from the Saddam notes and Swiss dinar to the currency we have today all these things contributed to it.
Hyperinflation, mismanagement, all those things played a key part. So there is no one thing that happened.
Al-Fateh: Washington is fighting for its continued presence inside Iraq
On Monday, a member of the Al-Fatah Alliance, Mahmoud Marei, confirmed the falsity of the American administration regarding the issue of removing combat forces from the country after the Dutch ambassador’s statement of the continuation of the international coalition’s mission in Iraq, while he stressed that Washington is fighting for its continued presence inside Iraq.
Mar'i said in a statement to the Al-Ma'louma Agency, "Washington continues to create crises and raise security, economic, and societal problems, to use them as an excuse to stay in Iraq," noting that "targeting Iraqi military and security symbols is one of Washington's malicious plans."
He continued, "The Iraqi Islamic Resistance's rejection of the foreign presence is the most prominent obstacle that America has failed to overcome," noting that "the continued foreign presence in Iraq represents the largest military operation compared to the many victories of the resistance that were achieved against them in the previous period."
Mari concluded his speech: “Foreign embassies work through many malicious plans that they spread within society in order to gain public opinion’s support for the military presence,” pointing out that “the United States of America is fighting for its continued presence inside Iraq.”
The Ambassador of the Kingdom of the Netherlands to Iraq, Hans Sande, had confirmed in a statement that his country would take over the leadership of the NATO mission in Iraq in mid-May, indicating that it would be the largest in the world at the level of institutions outside the Dutch borders.
The State of Law Coalition, in an interview with the Maalouma Agency, described the formation of joint committees to remove foreign combat forces as a blatant American game, while stressing that the exit of American forces will not take place through diplomatic means or political negotiations. link
The threat of a lop is still the same as when I got into this investment...The lop question is based on hyper-inflation ...verses policy inflation. The Iraqi dinar is stable. It goes up, it goes down but it's not major like what Zimbabwe and these countries where it was massive inflation. No body could control it. Iraq has complete control of the Iraqi dinar ...
The Iraqi dinar is a completely different ballgame. It's not hyper-inflated because of the markets. Iraq doesn't have a customer problem...production problem. Iraq has a policy issue. The people at the top know what they are doing.
When I did the evaluation [of the dinar] it was against countries and currencies that had lopped. I had the same questions as you guys when I invested. Where is this going? How can this work?
I found out the value was in a policy based inflation, they want to add value to it, they injected US dollars into the economy, devalued the dinar. Thedinar you and I have has nothing to do with hyper-inflation, major market problems or anything like that...Yes, they can add value to currencies that have a lot of zeros behind it. Iraqi dinar is stable. They can and are going to add value to it.
Budget schedules postpone the House of Representatives' recess
The Parliamentary Finance Committee expects the general budget schedules for the year 2024 to arrive at the beginning of next May.
The tripartite budget tables need to be reviewed periodically every year, to adjust project costs and salary bills and include new projects. This means that the budget is past and does not need to be approved in full, since it was approved last year.
The 2024 budget is at a standstill between the government and the House of Representatives, despite the approval of a tripartite budget for the first time in the country’s history, and despite the fact that the Ministry of Finance sent the tables more than a month ago to the Council of Ministers, at a time when the Parliamentary Finance Committee demanded that the government send the final accounts of the previous budgets.
The Finance Committee is awaiting the arrival of the budget schedules, according to a previous statement by its Chairman, Atwan Al-Atwani, to “correct the path of the budget by maximizing non-oil revenues, encouraging the private sector, and reducing operational spending,” while the House of Representatives decided to extend its legislative term, which will end next May 9, “until it is approved.”
Budget tables.” Representative Kazem Al-Fayad told Al-Sabah: “We in the House of Representatives are waiting for the general budget that the government will send after approving its schedules,” and added, “The schedules were supposed to arrive no later than the second month of the current year.” link
Question: Mark, do you see May 8th rumor that (the WTO entrance) as a hard date that Iraq cannot go past without announcing their new rate?
MarkZ: I hate to give dates…but there is a good chance it could go before then. Question: What does your gut say?
My gut is pretty mad we are not done already…but I feel that there is a good chance before the 9th of May. There is a lot expected to happen over the next few days.
Question: Did Kuwait revalue over night?
MarkZ: I believe they revalued mid morning. Around 10:30 or 11:00... I am confident it was daytime because the very same day it revalued…they ran articles in the papers that they were not ready to RV for months…maybe years. Then “BAM” they released it. That’s why I warn you guys about all the smoke and mirrors…Don’t jump off a cliff when you see stories like that. Just wait.
The Iraq Stock Exchange receives the shield of the Arab Financial Markets Union in Doha
The Iraq Stock Exchange received the shield of the Arab Financial Markets Union in Doha.
A statement from the Securities Commission, received by the Iraqi News Agency (INA), stated that “the Iraqi Stock Exchange participated with the Arab financial markets in the work of the meeting of the General Authority for Arab Financial Markets, and the opening of the trading session of the Qatar Stock Exchange, in addition to the annual conference of the Arab Financial Markets Federation sponsored by the Qatar Stock Exchange.” , which was hosted by the Doha Stock Exchange / State of Qatar for its 2024 edition.
He added, "He also participated in financial market discussions with financial technology experts and the future of trading in financial instruments and ongoing financial market experiences, and discussed the performance of Arab financial markets that are members of the Arab Federation AFCM and joint cooperation plans," pointing out that "the Iraqi Stock Exchange won the position for the second year." First in average daily trading volume for 2023 indices, and won the Arab Capital Markets Federation shield in Doha.”
He continued: “While the Saudi Tadawul market achieved the best position in the number of contracts executed and in the trading value achieved for the indicators of the year 2023,” noting that “the Egyptian Stock Exchange achieved the best return on trading and the best number of new investors for the year 2023, along with the stock exchanges of Jordan (Amman), Bahrain, and Abu Dhabi.” As the best stock exchange in ESG indicators and PE ratio. link
Here's a brief overview of the history of the Iraqi dinar's exchange rate against the U.S. dollar since the 1930s:
1930s-1950s: The Iraqi dinar was introduced in 1932 and initially pegged to the British pound at a rate of 1 dinar = 1 pound sterling. This effectively meant 1 IQD = $4.86 USD in the 1930s.
1959: Iraq devalued the dinar and pegged it to the U.S. dollar at a rate of 1 IQD = $2.80 USD.
1971: The dinar's peg was adjusted to 1 IQD = $3.39 USD after the U.S. devalued the dollar.
1973: After the U.S. abolished the gold standard, Iraq maintained the $3.39 rate for a couple years.
1982: Iraq devalued to 1 IQD = $3.22 USD.
1984-1987: Several further devaluations occurred during the Iran-Iraq War, with the rate dropping from $3.22 to around $3 per IQD.
1989: On the cusp of the Gulf War, the dinar devalued significantly to around 1 IQD = $0.31 USD.
Government official reveals the actual date of the start of the implementation of the development road project
{Local: Euphrates News} The General Company for Iraqi Railways in the Ministry of Transport set early next year 2025 as a date to start the actual implementation of the "Development Road" project, after seven governorates approved its route, confirming the achievement of 66% of railway designs on this road.
The general manager of the company, Younis Khalid Al-Kaabi, said in a press statement that "the project (development road) is large and gigantic, and the Ministry of Transport is the incubator for it, both rail and land," noting that "the project is in the process of progress in the initial designs, as the percentage reached more than 66% of railway designs, and 50% of the land road designs, and the soil investigations exceeded nearly 1,000 kilometers, with a completion rate of 89% for the areas north of Baghdad to the border, and 85% from south Baghdad to Faw."
"The soil investigation and topographic survey teams are continuing their work, and the Italian designer continues to complete this project according to the set time, which is one of the world's leading consulting firms," he added.
"The General Railways Company has all the documents reviewed and approved regarding the (Development Road) project in cooperation with experts and designers in the Italian company, and communication with all the governorates through which the road passes and the ministries concerned with it," al-Kaabi said.
"The International Chamber of Commerce’s Digital Standards Initiative (DSI) has completed the mammoth task of attempting to find common digital data standards for a raft of widely used trade documents."
The Digital Standards Initiative (DSI) is the International Governance Board that is currently setting standards for international trading relationships around the world.
They are telling us they have completed this all encompassing set of Global Standards. This will be applied to their new digital bills of lading that will determine new price correlations on cargo ships moving products around the world.
These new price correlations will be tokenized assets that hold a weight of gold in their determining price for movement.
Credit Valuation Adjustments are now becoming possible in 80% of our trades around the world that determines, through supply and demand, new exchange rates that will be forthcoming.
Financial inclusion organizes various events in Muthanna Governorate
4/30/2024
The Financial Inclusion Department at the Central Bank of Iraq and the Association of Private Banks organized the activities of the Arab Financial Inclusion Week at Al-Muthanna University - College of Management and Economics, in cooperation with the International Labor Organization.
The events included a seminar to introduce financial inclusion, a lecture on electronic payment and digital inclusion, as well as various lectures on financial stability, financial education, and the green economy project, in addition to concessional financing services for young entrepreneurs and businessmen.
It is noteworthy that these activities come within the Financial Inclusion Week, which began on April 27 and continues until May 2, with the aim of enhancing financial awareness and promoting financial inclusion in Iraqi society.
Central Bank of Iraq Information Office 30 - April - 2024
Dinar On The Move-Al Saleh stated that the 2024 budget is already in full force.
Iraq also announced a new platform (SAP) that allows their currency to go international.
The parliament is no longer needed to make any amendments to the budget.
The exchange rate supposedly ready to come out prior to May 9th.
They are now debating whether or not the rate should float or come out at a fixed price.
The Parliamentary Integrity Committee confirmed that Iraq can track money laundering crimes, through its supervisory bodies, even outside the country.
The Parliamentary Finance Committee confirmed today, Monday (April 29, 2024), that the positive results of the Prime Minister’s visit to Washington will appear soon. (Rate Change?)
The Sudanese signed 18 memorandums of understanding during their visit to Washington 10 days ago.
Mastercards are being given to the Iraqi citizens to purchase fuel, merchandise, and online shopping.
Al-Awadi pointed out that "Iraq needs investments to exploit its wealth, as well as to develop the industrial and agricultural sectors, so that we can move from a rentier economy to a market economy, support the private sector, and provide more jobs in the private sector.
“Eddie said Saleh on TV saying the Budget is in force and active, and there’s no need to send it to Parliament for approval. Tomorrow they will hold a special session to elect a House Speaker, finally. They announced a new electronic platform called SAP, saying this platform allows the currency to go international. And the world wants to communicate with Iraq and do business with them. The budget does not need Parliament anymore.
Sudani removed Parliament from the monetary reform process, that’s why they’re upset. The budget is waiting for the exchange rate. The budget is prepared, the budget is ready. It does not need laws, or signatures, it’s ready. The exchange rate needs to come out as soon as possible to shut Parliament up, and the budget will kick in before Parliament before they can blink an eye.
Iraq was invited to the big boy party in Saudi Arabia because they have a big boy rate. The budget is an operational budget. When it was voted on a while back it was intended for paying for operations inside Iraq. Now Sudani can make any kind of change without a vote. Sudani, IMF, World Bank, CBI, US Treasury and the citizens are all forcing the exchange rate.
MarkZ Disclaimer: Please consider everything on this call as my opinion. People who take notes do not catch everything and its best to watch the video so that you get everything in context. Be sure to consult a professional for any financial decisions
Member: Good morning Mark, mods and patriots
Member: What’s up dreamers? Are we still dreaming?
Member: Ready for a new month to start …….Guess we hope for a May RV now.
Member: Could today be the day?
MZ: I’m not looking for it today….but it’s a possibility
Member: anytime they tell u its gonna be this day ….go ahead and count on it not going
Member: Lots of stuff lined up for mid May
Member: People, don't be that child in the back seat asking repeatedly are we there yet/? this is annoying to the driver. Look out the window and admire the beauty. The driver knows the way
Member: But who is the driver????? Noone seems to know.
MZ: There is a lot of misinformation floating around….hard to find the real news….but there is a lot of anticipatioas from the bond side about this week. A lot of final appointments are expected this week. Hope we final go through the finish gates.
MZ: On the banking/redemption side they are in and working….and also out in the field. They are prepared and do not think they will have any more protocol changes to their process. So that was one beneficial update from a redemption contact.
MZ: “Russia prepares for total crypto ban as geopolitical tensions rise” The reasons they are giving is they want to support the asset backed value of the Ruble . Cryptos could derail all their efforts. If Russia wants their sovereign currency to do well….This tells us we are close to the reset.
MZ: But remember Cryptos are kinda like Kryptonite for Central Banks. They are not currency yet….but some will – it’s that technology.
Member: Russia says no the crypto, but brics is ready for a digital ledger financial system
Member: What about CBDC’s ,George Gammon says they are (CB) are forecasting 12 to 24 months from now.
Member: I’ll say it again. If the govt tells you to fear something, embrace it. If they tell you something is safe, RUN!
Member: Did Kuwait revalue over night?
MZ: I believe they revalued mid morning. Around 10:30 or 11:00. Someone correct me if I’m wrong. I am confident it was daytime because the very same day it revalued…..they had ran articles in the papers that they were not ready to RV for months. …maybe years. Then “BAM” they released it.
MZ: That’s why I warn you guys about all the smoke and mirrors…..Don’t jump off a cliff when you see stories like that. Just wait.
Member: Strange coincidence—building across the street from 2 banks in my neighborhood “Wealth Management Services”, what are the odds?
MZ: There are too many coincidences for this not to be close- right?
Member: We are all poor, not sure why wealth management is popping up
Member: Maybe they are preparing for us to exchange? Hope so.
Member: My wife works in the operations department at a bank. And they can take no vacation time the months of May and June-because they are doing operation changes.
Member: On Recaps yesterday- i saw a recent video on youtube posted by Forbes talking about the gold standard and it looked recent. wonder if that could be a hint we are close in main stream
MZ: It probably was recent and they are probably talking about the article that the Philidelphia Fed office released.
Member: Mark, do you see May 8th rumor that (the WTO entrance) as a hard date that Iraq cannot go past without announcing their new rate?
MZ: I hate to give dates…but there is a good chance it could go before then.
Member: What does your gut say.
MZ: My gut is pretty mad we are not done already….but I feel that there is a good chance before the 9th of May. There is a lot expected to happen over the next few days.
Member: I would like to know at what point does the defunct US Corporation actually die and go away?
Member: It cannot happen soon enough- imo
Membeer: If Nesara is real…..it would happen at that time .
Member: Anything new about the rate of the dong or bolivar?
MZ: I am hearing the dong rate could be in the $3+ range now. I hope this is accurate. When I first got in this I was hoping for .31-.36 cents. Then I was consistently told it could be in the low $2 range…which would be spot on for a reinstatement. Now I am hearing it could be as high as $3.60 or so…..That is what I am hearing. That is what is showing on bank screens. I do not know it’s a place holder rate….but it is showing up a lot.
Member I hate the word “soon” now. Can we use the word imminent instead? Lol
MZ: I really hate that word as well……
Member: Buckle up buttercups the next two weeks are about to get crazy
MZ: MilitiaMan may join us this evening….
Mod: MANY BLESSINGS AND MUCH LOVE TO EVERYONE
Member: Thanks Mark for being here for us….We know you are just as frustrated as we are…..I beet all the intel providers wish it was post RV right now and all this was behind us.
Member: See everyone tonight
Member: The best is yet to come.
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THANKS FOR JOINING. HAVE A BLESSED DAY! SEE YOU ALL THIS EVENING FOR NEWS @ 7:00 PM EST ~ UNLESS BREAKING NEWS HAPPENS!
Note from PDK: Please listen to the replay for all the details and entire stream….I do not transcribe political opinions, divisive social commentary, medical opinions or many guests on this stream……just RV/currency related topics.
Sudanese Advisor: The 2024 budget has entered into force... and there is no need to send its schedules to Parliament
4/28/2024
Today, Sunday (April 28, 2024), the financial and economic advisor to the Prime Minister, Mazhar Muhammad Saleh, commented on the implementation of the 2024 budget without its schedules being approved by Parliament.
Saleh said, to “Baghdad Today,” that “the experience of the tripartite public budgets approved under the Federal General Budget Law No. 13 of 2023 (the tripartite budget) has become a binding law to be applied regularly and in an annual hierarchy without interruption and in accordance with public finance applications in implementing the details of the general budget itself.” In both its operational and investment aspects, and because the application of the three-year budget experience as a medium-term financial plan has been approved in our country for the first time, in accordance with a text contained in the amended Federal Financial Management Law No. 6 of 2019.”
He stated that “the general budget for the year 2024 has become obligatory to implement since the country entered its new fiscal year and in accordance with the laws and financial and economic data contained in the texts of Law No. 13 of 2023 mentioned above, including operational expenses and investment expenses for current and new investment projects, as long as they occur.” Within the general budget constants No. 13 above.
Saleh stressed, “The text stated in the Tripartite Budget Law that the executive authority submits tables related to expenditures, revenues, and the estimated deficit for the current fiscal year 2024 is a constitutional and supervisory context and falls within the duties of the legislative authority. Based on the above, working with the constants of the Federal General Budget Law (The tripartite budget does not conflict with the progress in implementing the requirements of the national development projects programme, especially in implementing new whose allocations are approved within the law, and that This executive mechanism is the basis on which the tripartite budget philosophy was based, which provided legal flexibility in advancing the wheels of economic development projects without time delays and loss of time opportunities. Therefore, presenting the expenditure and revenue schedules for the fiscal year 2024 a context undertaken by the legislative authority within its constitutional oversight duties to
ensure the progress of implementation of the federal tripartite budget law.”
