FRANK26: "THE MONETARY REFORM ONLY ALLOWS DINARS IN IRAQ... AND IRAN NOW UNDERSTANDS THIS!!!".............F26
The Central Bank of Iran allocates 200 thousand Iraqi dinars for each visitor
7/7/2024
The Central Bank of Iran announced today, Sunday, the allocation of 200 thousand Iraqi dinars for every Iranian visitor wishing to travel to Iraq during the Arbaeen pilgrimage.
The head of the Central Bank, Mohammad Reza Farzin, said in press statements,
"The Arbaeen currency will be issued in Iraqi dinars in selected branches by the banking network after the end of the Tasu'a and Ashura ceremonies."
He added that "in the Arbaeen pilgrimage this year, 200 thousand dinars will be provided to every Iranian visitor wishing to travel to Iraq."
He explained that "registration of applicants for the Arbaeen pilgrimage began today, Sunday, July 7, which coincides with the first day of the month of Muharram."
By going through the foreign exchange market today, Sunday, it becomes clear that every 1000 Iraqi dinars in the free market is equivalent to 46 thousand tomans.
Article quote: "The fixed exchange rate system in Iraq is based on an international reserves base is the highest in the history of Iraq..
.Foreign currency covers more than 100% of the total currency issued." Even the trillions, they have enough reserves to do that. In other words if they change the exchange rate to something that's strong, that reflects the true fundamentals of the country, they shouldn't have any problem. Their model is stable, secure...very little inflation. They've been successful doing this model...
The electronic age is going to allow them to....spend the money efficiently. And for what? The operational side of the budget and the investment side. That's one of the key things Sudani was waiting to be able to pay for. He said he launched this program and they said they got started in implementation phase as of the 1st of July. The investment portion of it has my concern because I think that's where we're going to be looking for the real effective exchange rate.
Shafaq News / The Ministry of Finance and Economy in the Kurdistan Region announced, on Tuesday, that nearly 500 billion dinars were deposited in its bank account by the federal government to pay the salaries of civil servants for the month of June.
The ministry said in a statement today that it deposited a financial amount of 421 billion, and 760 million dinars into its bank account.
This amount is part of the June salaries of civil servants in the Kurdistan Region, the statement said.
Iraq has the the largest foreign currency in the country's history. I has also amassed a small fortune in gold and made significant strides in developing the country.
Sandy Ingram
The two exchange rates [Official rate and market rate] MUST come into alignment before there can be an increase in the currency value.
If the Iraqi dinar revalued next week are you ready? ...Understanding this one fact, you will do just fine.
The wealthy never never ever spend their bases or the foundation of their wealth. In your case this would be the profits from your Iraqi dinars...Wealthy people invest their initial profits. The first person they hire is a financial advisor. The second...is a tax professional...to make sure Uncle Sam doesn't get large sums of their money. If you do anything else you are in the fast lane to going broke.
Article: "JSC: The government has successfully completed the sale of securities" Quote: "
The government has successfully completed the sale of financial bonds...all the financial bonds that were sold, were all subscribed...This reflects the strength and stability of the State of Iraq."
Government bonds are a type of debt-based investment, where you lend money to the government at an agreed interest rate. Governments use them to raise funds that can be spent on infrastructure or new projects and investors can use them to get specific returns paid at regular intervals...
An informed source revealed the date of the implementation by government banks of the procedures of the Central Bank of Iraq in restricting the sale of dollars to travelers at the official price.
The source told {Euphrates News} agency, “Government banks are preparing to implement the procedures of the Central Bank of Iraq in selling dollars to travelers at the official price at airports, in a move to help the government find solutions to the dollar crisis.” The source explained that “the dollars will be delivered to travelers at the outlets of government banks at airports,” noting that “the start of selling dollars will be next week.”
The Central Bank of Iraq revealed last Thursday the new mechanism for travelers to receive foreign currency (dollars), which will be exclusively through the outlets of companies and banks at international airports, stressing that the goal of the new mechanism, which will come into effect on July 14, is to deliver dollars to the real traveler and pass sound transactions, in addition to facilitating travelers’ access to dollars faster.
Community Comment: "The CBI is going to wait until they're forced to increase their purchasing power."
No. The CBI is going to wait until it's necessary to increase the exchange rate. Just because everybody out here that owns Iraqi dinar feels like it should be done and they want it done today doesn't mean it's going to happen. They have to do what's right for the Iraqi people.
Question: "Can someone please explain why Pimpy is in this?
Does he or does he not believe in the RV?
I'm Pimpy and I can answer that question. Do I believe the Iraqi dinar can revalue? Yes. I'm in this because I think the Iraqi dinar will revalue. As a matter of fact it's revealed a few times...
July 18th is going to be good. They get to go there, meet with the World Trade Organization.
There's going to be information and reforms and requests made by the WTO that they are going to hand off to Iraq. Iraq is going to go over there and drop off additional materials that was requested from the last meeting and ask questions to make sure their accession into the World Trade Organization continues to go as smoothly as possible. As far as the exchange rate is concerned, no it's not going to be brought up there because that's not the job of the WTO.
Politician: America is continuing the dollar chaos scenario in Iraq
Today, Monday, the leader in the coordination framework, Jabbar Odeh, accused America of repeating the dollar chaos scenario in Iraq.
Odeh said in an interview with Al-Maalouma, “Since 2003, America has sought to make Iraq's economy hostage to the policies of the White House, and to use the dollar bill as a pressure tool to confront any movement outside the context of its interests in the region.”
He added, "The recent rise in the exchange rate is nothing but a scenario of chaos through pressure on the parallel market and raising exchange rates," stressing that "Iraq's economy will not be safe as long as Washington exploits oil revenues through the Federal Bank."
He pointed out that "the statements of the new American ambassador carried three clear agendas in Baghdad, which are using the economic card, selling oil supplies, and trying to escalate the security situation and interfering in the country's affairs," adding that "Baghdad's exit "From the pressure of the dollar will free the country from dangerous restrictions imposed by the White House administration." For more than 20 years.”
It is noteworthy that the dollar exchange rates witnessed a noticeable increase, raising many question marks amid accusations that an American agenda is behind what is happening. link
Representatives Of Exchange Companies In Iraq Announce The Cancellation Of Their Strike
Sweeteners 2024-07-08 | Source: Alsumaria News 4,142 views Representatives of exchange companies in Iraq announced, on Monday evening, the cancellation of their strike until further notice. A statement said,
“Representatives of exchange companies in Iraq announce the cancellation of their strike until further notice after meeting with the Prime Minister’s Office and advanced staff at the Central Bank of Iraq.” The statement added,
"And agreeing to solve a group of problems related to exchange companies and find the necessary solutions that support the work of these companies, especially those related to organizing the work mechanism at the airport and border crossings and the administrative, organizational and technical procedures related to them."
Today, Monday, the representative of the Iraqi exchange companies, Dhia Al-Tai, announced a move on three axes to implement a number of their demands regarding selling the dollar to travelers, while expecting the price of the dollar to reach 1,600 dinars. Al-Taie told Al-Sumaria News ,
“The Central Bank approved a new mechanism that harmed exchange companies in general, after selecting only 4 exchange companies to work in Iraqi airports with the aim of selling dollars to travelers,” noting that “the selected companies are the same as the existing categories.”
🇺🇸💥🇺🇸. Contracts were rewritten in Iraq to reflect their new money. 💥💥💥. Booming economy for Iraq! 🇺🇸💥🇺🇸👇👇👇
🇺🇸💥🇺🇸. Things are coming to the head in Iraq! Corrupt high officials! 💥💥💥. Others and Sudani? Evidence will be forthcoming. 💥💥💥. Trump and White hats have a plan in action! 💥💥💥. Lots of twists and turns in this disclosure! 🇺🇸💥🇺🇸👇👇
--
TRUTH WARRIORS
🇺🇸💥🇺🇸. Venezuela government lifting their economy up by signing contracts with the Brics countries! 💥💥💥. This will probably raise the value of their bolivar! 🇺🇸💥🇺🇸👇👇
---
🇺🇸💥🇺🇸. Using ATMs in Iraq! 🇺🇸💥🇺🇸👇👇
---
🇺🇸💥🇺🇸. China and the U.S. Pacific Naval fleet worked together a few years ago to clean out Taiwan. 💥💥💥. There were deadly biolabs underground and human trafficking! 💥💥💥Everything is always done ahead of the time it is out in the public! 🇺🇸💥🇺🇸👇👇👇
---
🇺🇸💥🇺🇸. Notifications released for Tier 4B in Brazil and Columbia……on Wolverines chat just now! 💥💥💥. Our turn will come sometime…..🇺🇸
---
🇺🇸💥🇺🇸. The fiat dollar will die on Sunday, June 9. 💥💥💥. However, our financial system will be resurrected with our new U.S. Note which is gold backed! 🇺🇸💥❤️🇺🇸
---
TRUTH WARRIORS
🇺🇸💥🇺🇸. Notifications released for Tier 4B in Brazil and Columbia……on Wolverines chat just now! 💥💥💥. Our turn will come sometime…..🇺🇸💥🇺🇸
----
🇺🇸💥🇺🇸.Iraq and Germany making agreements for projects for private sector! Sudani has been a very busy man! 🇺🇸💥🇺🇸👇👇
---
🇺🇸💥🇺🇸. Interesting. Currency companies told to stop selling foreign currencies in Iraq now in this window…….before what? 💥💥💥. Perhaps before the camper event? Just supposition since that event is very close. 🇺🇸💥🇺🇸👇👇
----
🇺🇸💥🇺🇸. Iraq is shifting to a gold backed currency! This makes their dependence on oil to back their currency non relevant! 🇺🇸💥🇺🇸👇👇
Al-Sudani receives a delegation from the US Department of Defense
The Prime Minister's Media Office stated in a statement that "Prime Minister Mohammed Shia al-Sudani received the US Deputy Assistant Secretary of Defense for Middle Eastern Affairs, Daniel Shapiro, and his accompanying delegation, in the presence of the US Ambassador to Iraq."
He added, "During the meeting, the procedures for proceeding with ending the mission of the international coalition to fight ISIS and activating bilateral relations between Iraq and the United States were discussed," noting that "the meeting witnessed discussion of the situation in the region and the continued aggression on Gaza."
Al-Sudani pointed to "the suffering of the Palestinian people, the difficulty of accessing humanitarian aid and relief supplies under the stifling siege, and the failure of the international community to assume its responsibilities in pressuring the Netanyahu government to stop the genocide."
The Prime Minister stressed "the need for a firm stance against the aggression, and the necessity of preventing escalation that threatens to expand the scope of the conflict."
For his part, the American official pointed out "the importance of Iraq's role in reducing tensions in the region, and the inevitability of continuing the approach of communication and cooperation between the two countries in the areas of armament and security and raising the combat level of the Iraqi forces, in a way that supports Iraq's security and sovereignty, economic development and progress at all levels."link
Their currency dealers at auction are going on strike. For those of you who have been in this for a while, you’ll remember Dr.Shabbibi, who was the central bank governor at the time did the exact same thing but Maliki stopped it. That won’t happen this time. We’re in the something per Kim Clement.
You’re seeing the end of an era worldwide. Deaths, resignations, famous people stepping down, etc. remember if Maliki didn’t stop it then, we’re not having this conversation now and many would not be in a position to be blessed shortly.
July 8, 2024 Baghdad/Iraq Observer Yesterday, the Central Bank of Iraq announced that it had submitted the “E-Commerce System Project” paper to the Council of Ministers for review and approval to proceed with work on it.
According to a statement, the Governor of the Central Bank of Iraq, Ali Mohsen Al-Alaq, chaired the meeting of the Diwani Order Committee (24079) to regulate electronic commerce in Iraq with the participation of the concerned authorities.
In detail, during the meeting, a draft system for e-commerce and consumer protection was discussed through the controls discussed by the attendees, through registration procedures and obtaining a license to practice this trade.
The committee contributed to identifying the service provider and granting it a license through an electronic platform established by the Ministry of Commerce, and the members of the committee stressed establishing the controls for granting a license to those wishing to practice electronic commerce in a way that preserves the rights of all parties..
While the attendees agreed to submit the “regulation paper” to the Council of Ministers for review and approval to proceed with work on it.
Realistic reading
Economists believe that the Central Bank does not have a realistic reading of the Iraqi financial situation, while they point out that it is within the powers of Parliament to hold the Central Bank accountable and dismiss those who are negligent.
An economist told the “Iraq Observer” agency, “The Central Bank is living the situation of the Sultanate with itself and does not know about the reality, and it also does not have a realistic reading of the Iraqi financial situation, and
it is required to solve the problem of trade with these two countries, and electronic payment has been stopped for 20 years.” In the drawers of the Central Bank and he did not do it, and it is within the powers of Parliament to hold the Central Bank accountable and dismiss those who are negligent.”
He said: “The dollar in Iraqi markets is a basic currency like the dinar, and the Iraqi currency is 80% equivalent to the dollar, 10% to gold, and 10% to bonds.”
He pointed out that “Sudani’s visit to Washington previously alleviated the dollar crisis, and that the lack of an agreement with Washington caused the banking sector to be annihilated by sanctions, and some reports against banks came from Facebook and led to sanctions.”
According to the Central Bank’s instructions, “the travelers’ dollar is not sold to them at the present time, and it does not include land trips.”
Plug
Observers considered that the Central Bank of Iraq’s sales, in a month, are sufficient to cover the deficit of delaying salaries and other public needs, from the hard currency auction for the US dollar, which amounted during the month of June to more than 4 billion dollars, while they revealed important statistics about government salaries.
They said: “The allocations for salaries of employees working in the federal government occupy approximately 62 trillion dinars annually of total public spending, and
they constitute a percentage of the total spending ceiling for the fiscal year 2024 of about 30%,” and that “the issue of securing salaries is a top priority in financial and economic policy in the country.”
The country is responsible for securing its expenses.
They stated, “According to the standard of support, which averages 6 people per family in our country, the monthly government salaries are responsible for the livelihood of 24 million Iraqi citizens out of 44 million citizens of the country’s population.”
“Government salaries are considered one of the most important ways to ensure the social and economic well-being of the citizen, with the exception of the category of retirees and social welfare recipients of pensions.”
According to the law, “Based on the provisions of Paragraph II/77 of the Federal General Budget Law No. 13 of 2023 (the tripartite budget), the executive authorities in general and the financial authorities in particular provide due diligence in applying the provisions of the aforementioned article, which concerns the submission of the federal general budget schedules for the year 2025.”.
The file is that the “expenditures, revenues, and hypothetical deficit” tables are “in accordance with the technical and constitutional contexts approved by the table itself for the current fiscal year 2024.”
Salaries Are Late!
Regarding the impact of employee salaries and a possible liquidity crisis: “An observer said: “In all cases, salaries are insured even in the event of a liquidity crisis, but the date of financing and disbursement may be delayed.” He added:
“According to the timings stated in Financial Management Law No. (6) of 2019, the Council of Ministers submits the draft budget before mid-October of each year to the House of Representatives.”
He pointed out that the budget is approved by the House of Representatives in December of each year.
4 Billion Dollars
Yesterday, Sunday, the Central Bank of Iraq’s sales from the hard currency auction for the US dollar during the month of June amounted to more than 4 billion dollars.
During the month of June, during the days in which it opened its auction to buy and sell the US dollar, the Central Bank sold 4 billion and 438 million and 744 thousand and 273 dollars, at a daily rate of 295 million and 916 thousand and 284 dollars.
Foreign remittances amounted to 4 billion 50 million 289 thousand and 273 dollars during the past month, an increase of 90% compared to cash sales that amounted to 388 million and 455 thousand dollars.
The sales were distributed between transfers abroad to finance foreign trade, and cash sales to banks, while the selling price of documentary credits and international settlements for electronic cards reached 1,310 dinars per dollar, while the selling price of transfers abroad and the cash selling price reached 1,305 dinars per dollar. https://observeriraq.net/ما-الموقف-الرسمي-وما-الذي-يخفيه-الدولا/
