Thursday, May 30, 2024

"MONETARY REFORM EDUCATIONS... EDUCATES!!!" BY FRANK26, 31 MAY

KTFA

FRANK26: "MONETARY REFORM EDUCATIONS... EDUCATES!!!"....F26

Announcing an initiative to train youth and include them in priority for inclusion in borrowing

5/29/2024

Baghdad

Today, Wednesday, the representative of the Prime Minister and Minister of Agriculture, Abbas Jabr Al-Olayawi, announced an initiative to train and qualify youth and include trainees as a priority for inclusion in borrowing from the ministry’s borrowing fund, while he stressed that the Iraqi government pays great attention to the youth segment in its ministerial program.----

Al-Olayawi said in his speech during the “Unlocking Capabilities” conference, “Youth have a large presence in the government’s ministerial program, and therefore it was a great start for the youth support conference in Baghdad in the presence of Prime Minister Muhammad Shiaa Al-Sudani, and a paper was presented that was reviewed in the Council of Ministers for study,” indicating that “ Time was given to the ministers to make notes on the requirements that would be presented by the youth, and they included a large group of proposals. Therefore, these ministries began studying them in a dedicated session, and from that a comprehensive project for youth emerged through its approval in the Council of Ministers.

He added, "This indicates government interest in the broad segment that basically represents the stability of the government and the Iraqi state," explaining that "the interest was great, and that is why a group of youth initiatives were launched, distributed among ministries, and the Ministry of Agriculture had a share in it, as it was held in conjunction with the agricultural exhibition on the grounds of the Baghdad International Fair." The Youth Conference was sponsored by the Prime Minister, in which a package of many ideas and recommendations were put forward that were later put into action, and there were many workshops for ministries in cooperation with sectoral, union and advisory bodies.

He pointed out that "the Ministries of Youth and Labor have adopted a group of events and activities, as there is a great opportunity today for this initiative from the European Union mission to receive support and support from the Iraqi government and cooperation towards serving and supporting this segment."

He called on "youth to communicate with the ministries, as we, in the Ministry of Agriculture, are training and qualifying large groups of young people in cooperation with the Engineers Syndicate," pointing out "to include trainees in these courses with priority in order to be included in borrowing from the borrowing fund in the Ministry of Agriculture."

LINK

"RV UPDATE" BY FRANK26, 31 MAY

Frank26

Question: "Should we watch Forex or the CBI?" CBI. Forex is waiting for the CBI.

There's an article that says, 'We're not going to come out with the the lower denominations because it won't affect the exchange rate of the Iraqi dinar.'

What are you stupid? I'm talking to the media. The media is owned by the far nasty side and they don't want this to happen. They don't want anyone to know about the monetary reform success so they put out information that a little misleading...Of course they're going to come out with lower denoms...remove the three zeros.. .add value to the currency. That's what they've been telling you...

Everything is being done in an expedited manner. But unfortunately it's expedited Middle East manner...You sign a contract in the Middle East, that doesn't mean that it's going to be activated on the day that you sign it, nor tomorrow, nor the next week, nor the next month. It is activated when they say so. Why? Because you need what they've got...You got to go by their rules. They have to move by their quicksand pace. I'm sorry, that's all there is to it. You have witnessed it. You have experienced it. You have tasted it by being involved in the monetary reform investment...

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🔥 Iraqi Dinar 🔥WOW Rates on Wednesday🔥 News Guru Intel Value Update IQD ...

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Iraqi Dinar: IBBC issues Major New Paper on De-Dollarisation of Iraq, 31 MAY

Iraqi Dinar: IBBC issues Major New Paper on De-Dollarisation of Iraq

Professor Frank Gunter publishes a new paper commissioned as part of a series by IBBC's advisory council on the challenges of de-dollarisation for Iraq.

The Advisory Council members and IBBC members have actively contributed to the paper in the past 4 months. It will be presented online on the 18th June in a webinar and in person at the Spring Conference on 2 nd July. The Arabic translation will be published soon.

Previous advisory papers include 2020, 'Iraq 2020: Country at the Crossroads', 'Corruption Worse Than ISIS: Causes and Cures Cures for Iraqi Corruption', 'Seaports and Airports of Iraq: Rules Versus Infrastructure' and 'Privatization of State-Owned Enterprises'.

Professor Gunter provides an analysis of the drivers of impact on the dinar exchange rate and examines how best to deal with the parallel market of dinars to dollars. He outlines the practical policy initiatives that should reduce the gap between the official and parallel exchange rates in the medium-term.

In particular he lauds the Government of Iraq on its commitment to tackle corruption and to modernise the banking system in one fell swoop but warns of the pressure on the dinar exchange rate as budgets are overstretched and the new banking recipients (state banks) receive the liquidity to enable the economy to perform.

He writes 'All three of these forces - the anti-corruption effort, the banking liberalization, and the lavish 2023-2025 budget - will create challenges for the management of the dinar exchange rate. One could argue that over the last two decades the Government of Iraq (GoI) had little control over its exchange rate; that exchange rate policy was determined by other sectors of the political economy in Iraq. But even if this is true, the level of the exchange rate and changes in that level are believed by many Iraqis and foreigners as providing valuable insight into the quality of economic management in Iraq. This importance is exemplified by the current efforts to de-dollarize the Iraqi economy while there is excess demand for dollars. This excess demand is shown by a parallel exchange rate of roughly 1500 dinars per dollar compared to the official exchange rate of 1310 dinars per dollar.

An important cause of this exchange rate gap is that the GoI, with the strong encouragement of the U.S. Federal Reserve, is attempting to reduce the use of the U.S. dollar in both Iraq's internal economy and its external transactions. Since 2003, the U.S. dollar has facilitated economic growth in Iraq by providing a widely accepted medium of exchange for purchases as well as a reliable store of value for savings. In the long run, whether de-dollarization will have a significant adverse impact on the Iraq economy will depend on how rapidly the GoI can increase both the efficiency of alternative mediums of exchange and the perceived security of alternative stores of value.'

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"RV UPDATE" BY SANDY INGRAM, 31 MAY

Sandy Ingram

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

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...

https://dinarevaluation.blogspot.com/2024/04/rv-update-by-sandy-ingram-17-april.html

Announcement That Can Surprise Everyone Today 2024🔥Currency Exchange Rat...

Al-Maliki’s coalition: The Iraqi government cannot protect American companies in Baghdad, 30 MAY

Al-Maliki’s coalition: The Iraqi government cannot protect American companies in Baghdad

The Province of Regulation alliance drove by Nouri al-Maliki said on Thursday that the Iraqi government can’t safeguard all American organizations in Baghdad.

The head of the alliance, Saad Al-Muttalabi, told , “The issue of keeping on focusing of American organizations in Baghdad is a complicated issue. By all accounts, focusing on organizations support Israel, and it comes surprisingly close to these organizations, however sadly, rather than the blacklist, there have been obtrusive assaults on these organizations.” “.

He added, “within the matter might demonstrate parties attempting to hurt the Iraqi economy, hurt the venture cycle, hurt Iraqi finances in speculations, and truly influence unfamiliar ventures, and this issue is mind boggling.”

He expressed, “These activities make no humiliation the Sudanese government, and they are occurring in all nations of the world now, and Israel is answerable for this issue in view of the slaughters it is committing in Palestine, particularly since the Iraqi government can’t safeguard each American organization in Baghdad and somewhere else. The public authority is working Giving general security and giving unique insurance to all organizations is an extremely challenging matter.”

At first light on Thursday, the Caterpillar branch in the Jadriya region in the focal point of the Iraqi capital was designated with a sound gadget, and the English American Cambridge Foundation was focused on with a home-made gadget in the Palestine Road region, east of Baghdad.

As per a police source, the two assaults made no critical human setbacks with the exception of material harm the organization and foundation structures.

These assaults come after obscure aggressors designated last Sunday night two eateries having a place with the primary American chain of cafés, KFC, in the Palestine Road region and the other in the Karrada region – 62 in the capital, Baghdad.

"RV UPDATE" BY MARKZ, 30 MAY

MarkZ

Question: You mentioned your gut thinks the RV could happen between June 2 and 9th… Is that still valid?

MarkZ: Based on what I am hearing from the bond side, government side and group side…To me it’s what makes the most sense. But, I am not ruling out any moment, because it’s a strong possibility...But its highly possible it happens this weekend...I was once told the optimum time would be on a Saturday night to Sunday morning.

“Futures slide as bond yields spike to a 3 week high” We are watching an inverted bond market. We are watching the short term bonds out bid and out earn the long term bonds. I was always told this is key to the reset and we are watching it live. This bond market is in shambles. I was always told to watch for this just before the reset…and to watch for the HCL law to be passed in Iraq. We are now watching them as we approach the finish line.

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

Remove Three Zero's And Adding Value Of Iraqi Dinar Today 2024🔥iraqi din...

Sudani announces the opening of 48 power transmission stations and 152 electricity distribution stations in Iraq, 30 MAY

Sudani announces the opening of 48 power transmission stations and 152 electricity distribution stations in Iraq

{Political: Al-Furat News} Prime Minister Mohamed Shia Al-Sudani announced the opening and operation of 200 power transmission and electricity distribution stations.

The media office of the Sudanese in a statement received by {Euphrates News}, that "Sudanese announced the opening and operation of 48 transmission stations for electric power for ultra high and high pressure, and 152 power distribution stations in all provinces of Iraq."

"This is part of the first phase of a package of projects to solve bottlenecks in electricity transmission and distribution networks in Baghdad and a number of provinces," he said.

"RV UPDATE" BY BIRDIEORBUST VIA GINGER TELEGRAM ROOM, 30 MAY

Thank you Birdieorbust, Liberty Lounger Extraordinaire 💥⬇️💥 5.29.24

💢Birdie: Zester, Markz son, explained crypto very well the other day and it really is no different from the QFS...they are both ledgers, so eventually we will all need to learn about crypto because we will be going all digital and ledger based in the future and need to be educated on it...he has a show today at 5 est on youtube called Crazy Cryptonaut.

Birdieorbust, Liberty Lounger Extraordinaire, offers a valuable update. 5.21.24

💢 Birdie: Well, things are happening in Iraq that they are not letting us in on; and the Iranian thing was needed.

Iranian leaders were not for the RV, they love the almighty US dollar and tried to steal it from Iraq every chance they got. The death of the leader of Iran will make things go faster and, in my opinion, it was planned for that purpose, it was no accident. But saying all that, they are moving forward using the budget in Iraq so it is only a matter of time before we hear the rate change which is included in that budget. The other issue has been they are trying to keep it from Parliament as long as they can so therefore we do not hear it because of that.

Parliament still has some people who would love to foil this RV as well, but Sudani is smart and will do it at the best time possible for it to be successful for all. The citizens are being told more things than we are hearing in articles etc... It cannot be that much longer now.

https://dinarevaluation.blogspot.com/2024/05/things-are-happening-in-iraq-by.html

Iraqi Dinar✅WOW Finally CBI Confirmed Iraqi Dinar Exchange Rate Today 20...

"I TOLD YOU SO FAMILY... THE MEDIA IS NOT TELLING US THE WHOLE TRUTH" BY FRANK26, 30 MAY

KTFA

FRANK26:"I TOLD YOU SO FAMILY... THE MEDIA IS NOT TELLING US THE WHOLE TRUTH"....F26

In 11 important points.. What the official Iraqi media did not tell you about the latest International Monetary Fund report

5/29/2024

Economic researcher Ziyad Al-Hashimi said today, Tuesday, that the latest International Monetary Fund report No. 2024/128 on Iraq included observations about the problems, negatives, and challenges facing the Iraqi economy that the official Iraqi media did not tell you about.

In a blog post on the “X” platform followed by “Jarida” , Al-Hashemi mentioned 11 observations contained in the report as follows:

First: The public finance balance witnessed a decline from a surplus of 10.8% in 2022 to a deficit of 1.3% in 2023 due to a decrease in oil revenues and a 5% increase in spending due to the expansion of government appointments and the increase in salaries.

Second: There could be declines in oil prices and Iraq’s export quotas during 2024, which will lead to pressure on Iraqi public finance accounts, which consume the largest share of oil funds, which will cause a clear financial deficit!

Third: Iraq needs the price of a barrel of oil to rise by $14 to reach the price of ($94) so that it can cover the expenses required in the three-year expansionary budget. Otherwise, there will be an realized deficit that may force the government to borrow or search for other sources of financing!

Fourth: It is expected that the public finance deficit will reach 7.6% and that (public debt) will double from 44% in 2023 to 86% by 2029 if the Iraqi government continues on the same path and oil prices remain below the $90 level.

Fifth: Obstacles are still great in developing the private sector and non-oil sectors in the absence of effective economic measures and policies that push the economy towards real diversification in sources of financing and reducing high dependence on oil!

Sixth: The Iraqi government is required to reduce spending, not expand appointments and salaries, establish buffers to protect state finances, focus on necessary investment spending, and expand taxes, collections, customs, and other non-oil sources of financing.

Seventh: The impact of the central bank’s monetary policies is still weak in withdrawing excess liquidity, due to the huge amount of cash available in the markets, weak confidence in the banking system, and the weak performance of local banks!

Eighth: Iraq needs to stimulate the private sector, absorb employment through it, stimulate non-oil exports, and implement programs to protect the economy from the shocks of fluctuations in the price of a barrel of oil!

Ninth: Accelerating the pace of reform in the financial sector by structuring and modernizing Iraqi banks, supporting banks’ relationships with correspondent banks, structuring government banks, and enhancing corporate governance applications. (KTFA FAMILY... TAKE NOTE WORLD BANKS ARE HEAVILY INVOLVED & SUPPORTING IRAQI BANKS IN THE SECOND PHASE OF THE MONETARY REFORM"...........F26

Tenth: Implementing comprehensive reforms that regulate exchange rates,combat corruption, prevent money smuggling and laundering, and close outlets for wasting public money by enhancing the independence and role of financial oversight and integrity institutions, judicial institutions, and public governance.

Eleventh: Removing obstacles that prevent the implementation of real reforms in the electricity sector to improve its efficiency, recover its costs, develop its infrastructure, and ensure continuous and stable access to electricity for citizens.

Economist Ziyad Al-Hashimi commented in conclusion, “This report re-examined serious structural problems and presented important and necessary recommendations to the Iraqi government, but we do not know whether they will be taken into consideration, adhered to and implemented, or will they be ignored like the rest of the previous international recommendations?” We wait and see.”