Central Bank: The Issuance Of New Monetary Denominations Will Not Affect The Dinar Exchange Rate, 29 MAY

 May 27 Information / Baghdad   Member of the Board of Directors of the Central Bank of Iraq, Ahmed Barihi, confirmed today, Monday, that the  issuance of new cash denominations, large or small, will not affect the dinar exchange rate. 

Brehi told Al-Ma’louma, “Issuing rumors on social media sites about the issuance of new monetary denominations aims to create a state of confusion in the Iraqi market.” 

He added,   "The Central Bank of Iraq is working according to well-studied plans, and  there is no intention to issue new currencies in large or small denominations." 

He explained,   "If we assume that the central bank issues a new currency, this will not affect the exchange rate of the Iraqi dinar." Ended / 25 AD  

 https://almaalomah.me/news/65796/economy/البنك-المركزي:-صدور-فئات-نقدية-جديدة-لن-يؤثر-على-سعر-صرف-الد    

"RV UPDATE" BY PIMPY, 29 MAY

 Pimpy 

 I agree it's going to happen.  I don't have doubt about that.  I'm just keeping an eye on whether or not they want to delete the zeros.  If they go to a free floating market hopefully there won't be...deleting the zeros and we'll see the exchange rate go up pretty quick before they have time to respond...

Iraq was already a member of the World Trade Organization.  They are going through the ascension process for a second time.  That's because all the rules, regulations, understandings and business practices...changed once the fall of Saddam Hussein.  Now we have to make sure all their practices, rules and regulations regarding trade line up once again with the World Trade Organization.  Iraq has been a member of the World Trade Organization since 2004.  This is their second time throughout the ascension process...

There's this misconception that the World Bank, IMF and the BIS get to tell countries what to do.  They don't...They facilitate.  They make recommendations but they don't control a country's bank...

Another budget is getting ready to come and go and there is no talk of the rate change.  Isn't that what they told you?  It would be in the new budget because there was no way for them to do large projects, there was no way for them to move forward without an exchange rate change...Why so secret now?  Is this one of those things they're trying to keep from the people?  

They didn't keep it from the people last time [they increased the value] and there's no mention of it this time...Keep your fingers crossed, it hasn't passed yet so maybe they'll change it between now and the time they pass it...You guys know what I think.

 Floating the currency means the value is determined by the market, so if people for whatever reason want to start investing in the Iraqi dinar and the start buying up the Iraqi dinar that means the demand for it is there, think supply and demand. 

 Since they have a liquidity issue, there's not going to have a lot of Iraqi dinar out there and if that's the case then they don't have the supply to feed the demand...But we'll be more than happy to sell our Iraqi dinar back to them if they get the exchange rate up around a quarter or more. I know I would.

https://dinarevaluation.blogspot.com/2024/05/rv-update-by-pimpy-24-may.html

Huge News IQD Update🎉🎉🎉 | IQD | iqd | iraqi dinar news today | rv

The Chairman of the Finance Committee discusses with the World Bank delegation the project of the development road and the energy sector in Iraq, 29 MAY

The Chairman of the Finance Committee discusses with the World Bank delegation the project of the development road and the energy sector in Iraq

The Chairman of the Finance Committee, Engineer Atwan Al-Atwani, received today, Monday, 27/5/2024, the World Bank delegation headed by Mr. Jean-Christophe Carré, Regional Director for the Middle East, to discuss supporting the development road project and the energy sector in Iraq.

The meeting reviewed the economic vision of the Development Road Project and its strategic importance in activating the investment movement, maximizing non-oil revenues and providing job opportunities.

He also discussed the multi-stage support provided by the World Bank for the Development Road project, including the modernization and rehabilitation of the current railway network and linking it from southern Iraq through the north to Turkey.

Mr. Al-Atwani called on the World Bank delegation to present new insights and ideas on achieving optimal investment for this huge project, which it is hoped will make Iraq an economic corridor linking Asia with Europe.

The Chairman of the Committee explained that the infrastructure of the development path should be in the hands of the government so that this important project linking Iraq with the countries of the world is not subject to effects.

The meeting witnessed a discussion of the continued support from the World Bank for the energy sector in Iraq, especially with regard to strengthening the electricity network, developing renewable energy and regional connectivity .

the House of Representatives
the media department
28/5/2024

رئيس اللجنة المالية يبحث مع وفد البنك الدولي مشروع طريق التنمية وقطاع الطاقة بالعراق

"RV UPDATE" BY MARKZ, 29 MAY

 MarkZ   

[via PDK]  

This is pure gold this morning…  Article:  “US Ambassador praises Iraq’s official adoption of E-Payment system”  This particular US ambassador is well known as the “Ambassador of re-valuations”  She usually gets sent to whatever country whose value is about to change. She is there in Iraq right now.

 It certainly is a “push” ...They are talking about it openly in the Iraqi news. …They are blatant on this one  “The impending rate change”.  They are telling us what they are doing... Articles in Iraq say clearly that the dinar is going to be worth more than the US dollar. 

[via PDK] 

 did hear some interesting things from military contacts. One in particular kinda surprised me overnight...don’t panic because they do their best to cloud the timing...He said “Do not worry- it will be before July 4th. ” We will have it all before July 4th. Actually a couple military contacts gave me that same time frame. I still have great hopes for sooner...it is interesting they have plans to have it completed by July 4th…For all we know it could happen tomorrow…nobody knows the timing.

 Out of Iraq – hearing we are supposed to be getting news on Sunday that has to do with the budget but since they have already passed it- does this mean we are getting a rate? Or which projects were executed or started?  I do not know.

   I am seeing rates of somewhere between $3.81 to $3.91 from a number of contractors working in Iraq. They are working on infrastructure - everything from hospitals to power grid to roads etc... And I am still thinking it will be $2 something on the dong. I hope I’m wrong and my contacts are right and it’s closer to the $3 mark.

https://dinarevaluation.blogspot.com/2024/05/rv-update-by-markz-27-may.html

RV update of iraqi dinar by wolverine today 2024🔥RV update iqd value inc...

US ambassador receives ‘fantastic news’: Iraq will see economic growth and a modern financial system, 28 MAY

US ambassador receives ‘fantastic news’: Iraq will see economic growth and a modern financial system

Baghdad – Mil

The US ambassador in Baghdad, Alina Romanowski, on Tuesday expressed her admiration for “great news” from Iraq, expecting economic growth supported by a modern financial system in the country .

“Great news!” Romanowski said in a post on the X platform, “Great news! Iraq officially ratified the electronic payment system on April 29.”

“This step will pave the way for a modern financial system and economic growth,” Romanowski added.

https://miliq.news/political/30778–.html

"RV UPDATE" BY FNU LNU, 28 MAY

  Fnu Lnu  

Much has been made of the number 90 Trillion. This is the alleged number of Dinar at large...I do not believe this number is valid and here's why.  1) There are always casualties such as fire & natural disasters. 2) We know there has been an effort, for years, to coax three zero notes out from under mattresses, with some success. 3) We know stolen Dinar have been recovered in very large amounts recently. 4) Here's the biggie: I saw a video some years back, where a jet was seized attempting to leave the country, and it was stacked from floor to ceiling with coffin sized cases full of Dinar.

It had to be trillions. Much to my surprise, the jet was eventually cleared to take off.  However, it was no surprise to hear the jet was registered to Nuri Al Maliki. The jet landed in Zurich Switzerland where it was then seized and the Dinar confiscated. Some may remember an article stating that Switzerland repatriated a large number of Dinar to Iraq but the article was scant on details. When one considers all these scenarios, it would seem that there is far less Dinar in circulation that 90 trillion. It may well be half that amount. IMHO.

Iraqi Dinar✅Iraqi Dinar Huge Revaluation Today 2024 / IQD RV / Iraqi Din...

Ebicor calls for trilateral meeting with Baghdad and Erbil to resume Kurdistan oil exports, 28 MAY

Ebicor calls for trilateral meeting with Baghdad and Erbil to resume Kurdistan oil exports

Shafaq News / The Kurdistan Oil Industry Association (EpiCOR) on Tuesday called for a tripartite meeting between it and the federal government and the Kurdistan Regional Government to resume oil exports from the region through the Turkish port of Ceyhan.

The association said in a statement today that its attention has been on reports that oil companies in the Kurdistan region are neither lenient nor flexible in or resuming oil exports, which is why the resumption of oil exports in the region through the pipeline between Iraq and Turkey is delayed.

The statement considered that these reports are incorrect, noting that “these repo rts talk about it in a way that there are negotiations with oil companies, and that the latter in turn does not show any flexibility in those negotiations.”

The statement also noted that “there are currently no negotiations between the oil companies, the Kurdistan Regional Government and the Iraqi government, and the last negotiations were held from January 7 to 9 of this year.”

Epicor confirmed that the oil companies operating in the region are ready to resume oil exports provided that their financial rights are agreed to be paid in the past and guaranteed in the future, and provided that the deals contained in their contracts are protected.

“Epicor member companies believe that the best way to find a solution is to hold a tripartite meeting between oil companies, the Kurdistan Regional Government and the Iraqi government,” said Miles Kakins, spokesman for the association.

https://www.shafaq.com/ar/كوردســتانيات/بيكور-تدعو-لى-عقد-اجتماع-ثلاثي-مع-بغداد-واربيل-لاست-ناف-صادرات-نفط-كوردستان

"RV UPDATE" BY FREEDOM FIGHTER, 28 MAY

 Freedom Fighter ©

💥The United Nations praises Iraq for successful adoption of a global digital banking system

💥Iraq has officially modernized their banking system to global standards 

💥Their new digital banking system was “regulated” and became law on April 29, 2024

🟢READ THAT AGAIN‼️

https://shafaq.com/en/Economy/US-Ambassador-praises-Iraq-s-official-adoption-of-E-payment-system

----

Today maybe a quiet day but we are going to share something with you from Iraq 🇮🇶 

Sometimes to see where we are it helps to know where we came from.

TRUTH TELLER

Freedom Fighter ©

💥Dr Shabibbi , late Governor of the CBI in 2011

💥He wrote the Iraq White Paper economic reform plan aka (IRAQ RV PLAN) in 2011

💥Iraq has come a long way since this video 

https://youtu.be/ol8wve53-ME?si=uB1s8XKOwFENuLCI

https://dinarevaluation.blogspot.com/2024/05/iraq-has-come-long-way-since-this-video.html

Iraqi Dinar | Central Bank Of Iraq Major Announcement About Iqd Rv And R...

Expert: The Iraqi economy is witnessing a remarkable growth, with the decline in the dollar exchange rate, 28 MAY

Expert: The Iraqi economy is witnessing a remarkable growth, with the decline in the dollar exchange rate

Economic expert Jabbar Kuran revealed today, Tuesday, the high rate of economic growth in the country and the Iraqi financial system was linked to the global banking system.

The economic expert and currency market spokesman in Sulaymaniyah Jabbar Kuran said in a statement to Shafaq News that “the economic and financial situation of Iraq is in a remarkable development and growth and now we are witnessing an increase in the economic growth of the country by 2% and this is a good thing for the Iraqi economy compared to the past years.”

He added that “the implementation of the Central Bank of Iraq’s electronic measures under the supervision of the US Treasury Department has had a clear impact on economic growth as well as on the devaluation of the dollar against the Iraqi dinar.”

He pointed out that “the monetary fiscal policy now followed in the country has made the difference between the exchange rate of the dollar and the dinar shrinking to the limits of ten thousand dinars, and this difference is normal for many reasons.”

He pointed out that “the measures taken since the middle of last year have been implemented in a fact of a way up to 30 financial measures that had a positive repercusssion dealing in Iraqi dinars instead of the dollar, when transactions in the Iraqi dinar in the country are now estimated at 90% except for the Kurdistan region, as well as allowing traders to deal with foreign transfers through banks and directly, where 85% of local traders can now deal with foreign transfers through banks to import materials from abroad.”

Koran ruled out that the dollar exchange rate should be the same as the government exchange rate for administrative and financial reasons, noting that the difference should remain like this by about 10,000 dinars between the exchange rate in dollars and the dinar.

https://www.shafaq.com/ar/اقتصـاد/خبير-الاقتصادية-العراقي-يشهد-نموا-ملحوظا-اسهم-بتراجع-سعر-صرف-الدولار

"ABOUT THE STABILIZATION OF THE NATIONAL CURRENCY" BY GOLDILOCKS, 28 MAY

 GOLDILOCKS

Once Iraq's digital banks are licensed and good to go, their currency will be licensed as well. 

© Goldilocks

----

International Monetary Fund mission for the current year 2024 for Article Four consultations praised the Iraqi government’s measures, including the monetary policy led by the Central Bank of Iraq. 

The report indicated that the Central Bank of Iraq has taken several measures aimed at stabilizing the national currency and controlling monetary inflation.

Adding that the Central Bank raised the interest rate on monetary policy tools from 4% to 7.5% and increased the mandatory reserve requirements for banks from 15% to 18%, and these steps were decisive in reducing the inflationary pressures that Iraq suffered from, and this contributed to creating an economic environment. More stable.

The report emphasized that important reforms in the banking sector, such as the gradual increase in bank capital and mergers between small banks, aim to strengthen the banking sector and increase its efficiency and flexibility in the face of economic shocks.

The report noted that Iraq has implemented new compliance measures to improve the transparency of cross-border financial transactions, by launching an electronic platform that imposes the disclosure of financial beneficiaries, which enhances the integrity of financial transfers in accordance with international banking standards, as well as the role of the Central Bank of Iraq in expanding relations. Correspondent banking, to facilitate smoother international trade financing operations.

Central Bank of Iraq

Information Office

May 27, 2024

https://cbi.iq/news/view/2592

 The Iraqi banking system may soon receive banks of another type called (digital banks). What are these banks and will the citizen, the banking system, and the Iraqi economy benefit from them? Files that the beneficiary of the banking sector services in Iraq is trying to ask.

https://economy-news.net/content.php?id=43770

Jon Dowling & Boeing Whistleblower Mr QC Discuss What Is Happening At Bo...

Blaskhart sends a message on the occasion of the end of its work in Iraq, 28 MAY

Blaskhart sends a message on the occasion of the end of its work in Iraq

The United Nations (UNAMI) envoy for Iraq, Jeanine Hennes-Plaschart, on Tuesday (May 28, 2024) sent a letter marking the end of her tenure in the country.

“As my tenure as Special Representative of the United Nations Secretary-General in Iraq draws to an end, I would like to express my deep gratitude and appreciation to all Iraqis, especially those I have met and worked with,” Plasskhartt said in her letter, according to a statement to the UNAMI mission, which was received by “Baghdad Today.”

“Over the past five years, I have been repeatedly influenced by the generosity and hospitality of a people who have never strayed from their traditions of welcoming the stranger or helping the needy, even at the expense of their comfort or time, and I have learned a lot of listening to Iraqi women and men as they proudly recount their history,” she added.

She pointed out that “although many faced serious challenges, the optimism for the coming days was always bright. They welcomed me and my other colleagues at the United Nations to their cities and homes, and invited us to share them in a meal or event and did not miss an opportunity to highlight Iraq’s rich culture and enormous beauty, and throughout the country, including the Kurdistan Region, countless people of all ages spontaneously shared, again and again, their hopes and aspirations. And I won’t forget any of them.”

“I also truly appreciate the professional meetings and discussions we have had with a wide range of partners, from civil society representatives, academics, clan leaders and religious leaders to local authorities, provincial authorities, national authorities, judges and security and political officials. Needless to say, their views and perspectives have taught us a lot and guided our work,” she continued.

Blaskhart pointed out that “some of these meetings included people who put daily differences aside to find solutions in the critical stages of Iraq, all of these interactions have left an indelible impact inside. And of course, I cannot exaggerate our gratitude to the various organs of the Iraqi government, which facilitated our work, through tireless efforts, and protected the staff and operations of the United Nations.”

“None of that means the UN has been immune to criticism – some of which has been justified, some simply based on misconceptions about who we are, what we can and cannot do,” she stressed. But talking to those who understand the values of the organization and what it stands has been very productive. As I have said many times, the UN does not have a magic wand. Ultimately, the balance between conflict and peace, or poverty and prosperity, depends on the political will of the nations. But if we can make a difference in people’s lives, it’s worth intensifying up work and keep trying. Ultimately, the UN has one key priority at its core: to promote peace and prosperity for all – regardless of affiliation, religion, background or race.”

Blaskhart concluded her message by saying, “Once again I would like to express my deep appreciation and thanks to the kind cooperation and support provided to the United Nations Assistance Mission for Iraq (UNAMI) and the wider United Nations family in Iraq and to me personally. Long live Iraq.”

https://baghdadtoday.news/250369-بلاسخارت-توجه-رسالة-بمناسبة-انتهاء-عملها-في-العراق.html

High Level Talks Indicate Vietnam Poised to Join BRICS: Great News for VND BY AWAKE IN 3D, 28 MAY

 High Level Talks Indicate Vietnam Poised to Join BRICS: Great News for VND

On May 26, 2024 By Awake-In-3D

Vietnam’s anticipated membership in BRICS+ highlights its growing global economic influence and benefits for the Vietnamese Dong (VND).

In This Article

• Overview of Vietnam’s Economic Growth

• Insights from the Recent High-Level Talks

• Strategic Importance of BRICS+ Expansion

• Future Prospects for Vietnam within BRICS+

• Benefits to the VND from BRICS Membership

Vietnam’s potential membership in the BRICS+ alliance marks a significant milestone in its global economic status.

This development comes as the country continues to strengthen its economic ties with major global powers and emerges as a key player in the international arena.

Overview of Vietnam’s Economic Growth

Vietnam’s economy has been one of the fastest-growing in the world, characterized by robust GDP growth, increasing foreign direct investment, and expanding industrial sectors.

Its strategic location, coupled with a young and dynamic workforce, has attracted numerous multinational corporations seeking to diversify their supply chains. This economic boom positions Vietnam as a prime candidate for inclusion in influential global groups like BRICS+.

Insights from the Recent High-Level Talks

During a recent visit to Vietnam, Dr. YKOVLEV ARTEM ALEXANDROVICH, Director of the Center for Russian Strategy in Asia, engaged in discussions with the Vietnamese Prime Minister.

The talks focused on potential economic collaborations between Vietnam and the Russian Federation and explored the feasibility of expanding BRICS membership to include Vietnam.

Dr. Alexandrovich emphasized the resilience of the Russian economy despite extensive sanctions and highlighted the strategic partnerships Russia has forged with China and other Asian countries.

He noted that these alliances have been instrumental in sustaining economic growth and stability. The discussions underscored the mutual benefits that Vietnam’s inclusion in BRICS+ would bring, aligning with the shared objectives of fostering economic cooperation and development.

Strategic Importance of BRICS+ Expansion

BRICS represents a coalition of emerging economies with significant global influence. The proposed expansion under the BRICS+ model aims to include other rapidly growing economies, enhancing the group’s geopolitical and economic clout.

Vietnam’s inclusion would not only bolster its own economic ambitions but also contribute to the collective strength of BRICS+.

Dr. Alexandrovich highlighted that the expansion of BRICS is crucial for reshaping the global geopolitical and geo-economic landscape, promoting a multipolar world order.

When asked if Vietnam would be a good candidate to join BRICS, Dr. Alexandrovich replied, “Vietnam’s economic trajectory aligns well with the goals of BRICS+, making it a valuable addition to the alliance.”

This membership would open up new avenues for trade, investment, and technological collaboration, benefiting all member countries.

Future Prospects for Vietnam within BRICS+

As Vietnam prepares to join BRICS+, the country stands to gain significantly from increased access to markets, resources, and technology from other member nations.

This membership would accelerate Vietnam’s economic growth, enhance its global trade relations, and provide a platform for greater influence in international economic policies.

Furthermore, Vietnam’s participation in BRICS+ aligns with its long-term strategic goals of diversifying economic partnerships and reducing dependency on any single market. By joining forces with other emerging economies, Vietnam can strengthen its position in global value chains and contribute to shaping the future of international economic governance.

Key Benefits to the VND from BRICS Membership

Today, the expanded BRICS+ nations collectively represent over 40% of the world’s population and around 25% of global GDP.

Stabilized Exchange Rate: As part of BRICS+, Vietnam could benefit from a more stable Vietnamese Dong (VND). The economic collaboration within the bloc, including trade settlements in local currencies, could reduce Vietnam’s reliance on the US dollar, leading to less volatility in the VND exchange rate.

Stronger Financial Support: Vietnam would have access to financial resources from the BRICS New Development Bank (NDB). This can help support infrastructure projects and other development initiatives without the stringent conditions often imposed by Western financial institutions. Enhanced financial stability and support can bolster investor confidence in the VND.

Enhanced Foreign Exchange Reserves: Trade within the BRICS+ framework can lead to increased foreign exchange reserves for Vietnam. As trade grows, so does the inflow of foreign currencies, which can help stabilize and strengthen the VND.

Increased Investment: Membership in BRICS+ can attract more foreign direct investment (FDI) into Vietnam. Investors often view membership in such influential groups as a sign of economic stability and growth potential. Increased FDI can further strengthen the economy and, consequently, the VND.

The Bottom Line

Vietnam’s anticipated entry into the BRICS+ alliance signals a pivotal moment in its economic evolution.

The country’s impressive growth, strategic partnerships, and alignment with BRICS+ objectives position it as a key player in this expanding coalition.

As BRICS+ continues to shape the global economic landscape, Vietnam’s membership promises to bring mutual benefits, drive collective prosperity for all member nations, and enhance the stability and strength of the Vietnamese Dong.

Contributing article: https://dttc.sggp.org.vn/advantages-of-vietnams-involvement-in-brics-post113437.html 

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https://ai3d.blog/high-level-talks-indicate-vietnam-poised-to-join-brics-great-news-for-vnd/