Al-Sudani announces the success of the Arbaeen visit plan and reveals 37 service projects for the upcoming visit, 26 AUGUST

 Al-Sudani announces the success of the Arbaeen visit plan and reveals 37 service projects for the upcoming visit

8/25/2024

Prime Minister Mohammed Shia Al-Sudani announced the success of the security and service plans for the Arbaeen pilgrimage, during a press conference he held in Karbala Governorate, today, Sunday.

Al-Sudani appreciated the efforts of the Supreme Security Committee headed by the Minister of Interior, and all officers and members in ensuring the smooth flow of the visit, which extended over vast areas and thousands of kilometers of roads leading to the holy Karbala, as well as the efforts of the local service and administrative institutions in the governorates, and the formations of the various ministries, as more than 53 ministries and agencies participated, in addition to local governments, governors and governorate councils.

Al-Sudani expressed his thanks to the Governor of Karbala and the members of the provincial council for their continuous efforts that complemented the efforts of the ministries and provinces, extending his thanks to the visitors, the Husseini processions and the social activities for their cooperation and partnership with the security and service agencies. He also thanked the Husseini, Abbasi, Kadhimiya and military shrines for their important role, praising the role of the national media in this visit, which represents an opportunity to re-sharpen the spirit of all service teams and review the work and improve the provision of service to the citizen in the upcoming visits.

In order to establish an integrated infrastructure that facilitates the visit, the Prime Minister announced during the conference 37 diverse service projects that will be initiated by the Supreme Committee for Millions of Visits, and more than (3.5) trillion dinars have been allocated for them, distributed among the budgets of ministries and governorates, and include the construction and rehabilitation of ring roads, intersections, bridges, pedestrian bridges and squares, the construction of water complexes and cities for visitors, and service complexes, and they will be initiated in a few weeks.

He pointed out that since the end of the Arbaeen pilgrimage last year, work has begun on rehabilitating the border crossings in Zurbatiyah, Al-Mundhiriyah and Al-Shaib, establishing large exchange yards to facilitate the transportation of visitors, and projects related to rehabilitating the roads linking Karbala to other governorates. The government has also made progress in the Karbala-Najaf Metro project, while the Karbala International Airport project has reached advanced stages and will be opened next year.

He stressed that the government took the initiative to establish the Supreme Committee for Million-Pilgrim Visits, to be the permanent organizer and supervisor of this great effort, indicating that this occasion is no longer merely ideological, but rather a national epic that witnessed the presence of our people from all religions and sects in more than 50 processions providing services to the visitors.  LINK

🚨The Comptroller of The Currency🚨 Oct 21, 2024 - New Regulations

LATEST FROM FRANK26, 26 AUGUST

  Frank26 

 Article:  "Iraq and America to resume negotiations on the banking sector next Monday" 

 ALAQ'S VISIT IS ON IRAQI BANKS... IRAQI BANKS ONLY CARE ABOUT A NEW EXCHANGE RATE.

Frank26 

  I don't care about the WTO and HCL because it only waits for one thing, the new exchange rate.  The only mechanism that everyone is waiting for is the new exchange rate.  

That is the simple fact.  This fact is real because Sudani is constantly reinforcing that idea...by constantly coming out on TV and  talking to you [Iraqi citizens] about you're going to get purchasing power.

We found out the 3 zero notes are going to coexist with the lower notes for 10 years.

  Do you understand the power behind that?  

That means we're going to be able to participate in not only the float but the Real Effective Exchange Rate (REER)

 Frank26 

 The goal is what?  Retrieve those [Three zero notes].  

How? 

As soon as we raise the value, give them purchasing power, as soon as we drop the 3 zeros, they're going to bring in all that 80 something percent [still in Iraqi mattresses]...The monetary reform plan is brilliant...It is moving at a very fast pace.

DINAR REVALUATION 

ANALYSIS OF WHAT EDDIE TOLD TO FRANK26: 

"Then Saleh talking about oil being sold in dinars instead of dollars." 

 Economist back on tv saying it’s time to drop the zeros."

---It sounds like there's a couple of interesting economic discussions happening in Iraq right now!

1. Saleh and Oil Sales in Dinars: Saleh's suggestion to sell oil in dinars instead of dollars could be aimed at strengthening the Iraqi dinar and reducing dependence on the US dollar. This move could potentially stabilize the local economy and improve national financial sovereignty. However, it would also require significant adjustments in international trade agreements and currency exchange systems.

2. Dropping Zeros from the Dinar: The economist's call to drop zeros from the dinar is a common monetary policy strategy known as "currency redenomination." This involves introducing a new unit of currency that is worth a thousand or more times the old unit. It's often done to simplify transactions and improve the currency’s image after periods of high inflation or economic instability. For Iraq, this could be a step towards stabilizing the currency and restoring confidence in its value.

Both of these measures reflect efforts to address economic challenges and enhance the stability of Iraq's financial system. The success of these strategies will depend on how they are implemented and their impact on the broader economy.

SEEMS THAT WE ARE REALLY CLOSE TO OUR DESIRED RV!!!

https://dinarevaluation.blogspot.com/2024/08/dinar-revaluation-update-seems-that-we.html

"THE SOLUTION IS THE NEW EXCHANGE RATE!!!" BY FRANK26, 25 AUGUST

 KTFA

FRANK26:"THE SOLUTION IS THE NEW EXCHANGE RATE!!!"...........F26

An economic expert indicates a “solution” that will “reduce” the dollar exchange rate

 

8/22/2024

Today, Thursday (August 22, 2024), the expert in economic and financial affairs, Mustafa Akram Hantoush, commented on the reasons for the fluctuation of the dollar exchange rate in Iraqi markets.

Hantoush told "Baghdad Today" that "the parallel market needs to be dismantled in order for the exchange rate to decrease. Previously, there were solutions to the issue of cigarettes and gold, and the tax was reduced and the merchant was returned to buying through the platform, and the exchange rate stabilized at 145 thousand dinars.”

He added, "We have small merchants and there is no easy mechanism for them, and we have trades such as gold and cleaning materials that have not been processed, and we have huge trade with Iran and Syria worth millions of dollars, and these can be processed by giving them currency or gold," stressing, "Most countries have resolved the problem of trade with Iran, despite the American sanctions imposed on them, and solving the problem of travel to those countries.”

The exchange rate of the dollar in the parallel markets rose again, as the markets recorded prices approaching 150,000 dinars for every 100 dollars, despite the fact that the Central Bank of Iraq sells it for 1,320 dinars for every 1 dollar.

With the government's efforts to control prices in the parallel markets, the commercial markets witnessed a decline in the exchange rate in recent weeks, but it rose again, which indicates an economic problem that is still present in the country.

As a result of this, parliamentarians sparked a movement to interrogate the Governor of the Central Bank within the legislative dome, as the Finance Committee in the House of Representatives, on Sunday (August 4, 2024), sent a request to the Presidency of Parliament to interrogate the Governor of the Central Bank .

It was stated in a document appended with the signature of the members of the Finance Committee, which was received by “Baghdad Today”: “We are the members of the Finance Committee listed below who are signatories for the purpose of hosting the Governor of the Central Bank due to a major defect in the management of the bank .”

The document added: “Therefore, we demand that the Governor of the Central Bank be interrogated at the earliest session and in accordance with the applicable articles of the Constitution and internal regulations.”

LINK

LATEST FROM MILITIAMAN, 26 AUGUST

 Militia Man 

  Article:  "Alaq's upcoming visit to New York supports banking system stability."  People ask me why isn't he going to Washington?  

What's in New York? 

 New York is part of the United States banking system, United States Federal Reserve Bank is in New York.  Where is the account for Iraq's oil money?

 ...It's not in Washington D.C.  It's not at the White House.  It's definitely in New York isn't it.  

--

 Militia Man  

 Article Quote: "Alaq confirmed... there will be meetings held with the Federal bank and US Treasury at the end of this August"   

What's the date today?  

It's not far off.  The last meeting he had was unannounced...I think him coming back to the Untied States, he's probably going to bring something he should have had done a long time ago.

Article: "Iraq is heading towards printing new paper currency"

  They're not going to print new currency in the sense of triple zero notes...There's no reason for it.  They were destroying perfectly good triple zero notes.  They did a video on it...destroying money, making little pellets.  They had a whole show on it.  

Why would they be destroying good money? 

 Granted, if they filmed that they were damaged with ink on them, all these different things, I understand that.  That wasn't the case.  In 2018...they spent tens of millions of dollars on printing new currency... Bottom line is, why would they be printing triple zero notes at a time when inflation is low?  That would create inflation.  The whole idea is not to do that.  

Article quote:  "There's no intention to print new paper currency at the central bank..." 

https://dinarevaluation.blogspot.com/2024/08/analysis-of-iraq-news-by-militiaman-25.html

🚨SPECIAL:Wiley Morgan Talks Humanitarian Projects + Secret Meetings With...

"NO THEY HAVE A LOT MORE THAN THAT!!!" BY FRANK26, 25 AUGUST

 KTFA

FRANK26:  "NO THEY HAVE A LOT MORE THAN THAT!!!"...........F26

More than 100 tons.. Iraq is the ninth largest buyer of gold in 2024

8/24/2024

 

Economy

Iraq ranked ninth globally among the top 10 countries buying gold this year. What is meant by gold is converting foreign currency reserves into gold, not the gold of goldsmiths and citizens.

 

Iraq bought 100 tons of gold this year, coming in ninth out of the top 10 countries buying gold this year, compared to 1,298 tons bought by Russia, as interest in buying gold is growing amid rising geopolitical tensions and economic fluctuations.

 

 

This comes as the precious metal hit an all-time high of $2,531.75 an ounce after breaking above $2,500 for the first time this month amid growing expectations that the Federal Reserve is close to cutting interest rates.

Bullion typically benefits from low interest rates, and central banks hold gold reserves because of its strong collateral, liquidity and yield properties.

LINK

LATEST FROM GINGER, 25 AUGUST

GINGER

 

💢 Freedom Prevails, Liberty Lounger Extraordinaire 💥 Here are screenshots of the CBI website ... this IS SO EXCITING ...I can't translate the PDF exactly, but it has to be the instruction on currency exchange!!!!! I can feel the sand between my toes already and the sun shining on my face .... LET'S GO!!!! 🔥❤️🔥 

💢 Goldilocks confirmed this has to do with Foreign Exchange Service Providers Working Procedures 😁

8.13.24

--

Wed. 21 Aug. 2024 Ginger’s Liberty Lounge on Telegram:

 This RV is a Private Exchange, not a public one. The special exchange and/or redemption has special rates for currency – a Contract rate for a couple of currencies. One being the Iraqi Dinar, which is being given as a result of an Oil for Dinar agreement between Iraq and the countries that provided troops during the process to remove Saddam Hussein. 

 The purchase of oil in Dinar from Iraq will start as soon as the Revaluation starts.  The Pre-revaluation Dinar will be used to purchase the oil at the new revalued price.  For example, the current 25,000 Dinar note has a value against the US Dollar 1,460 dinar to 1 USD.

 The 25,000 notes we have are those notes. The 25,000 Dinar notes we hold will be exchanged by the US Treasury at a high rate because they in turn will be used to purchase oil from Iraq after revaluation at face value as if they were the new notes.  That means that a 25,000 Dinar note can currently buy about $17.00 worth of oil, however after revaluation that same note can buy around $93,000 worth of oil. 

The Contract rate and the lower International rate are given to us in the Private exchange as a payment for what the US spent in that war. Vietnam holds a very high amount of Dinar and China has put their weight behind the Dongs revalue rate so that they can get the Dong after we exchange it, and the swap it for the Dinar that Vietnam has in order for them to buy oil with those old notes.

https://dinarevaluation.blogspot.com/2024/08/this-rv-is-private-exchange-by-ginger.html

IRAQ'S INVESTMENT MAP/GUIDE 2024: YOUR ULTIMATE GUIDE!

DINAR REVALUATION UPDATE: A COMPREHENSIVE GUIDE TO THE IRAQ'S INVESTMENT GUIDE OF 2024, 25 AUGUST

Iraq's Investment Landscape in 2024: A Comprehensive Guide

Iraq, with its rich history and vast natural resources, presents a unique landscape for investors seeking opportunities in the Middle East. As of August 25, 2024, the country's National Investment Commission (NIC) has published updated guides to help investors navigate the investment climate. 1

Key Investment Opportunities

The NIC's guides highlight a range of sectors ripe for investment, including energy, infrastructure, and real estate. With the world's fifth largest proven oil reserves, Iraq aims to quadruple oil production by 2027. 4 Additionally, the government's commitment to developing infrastructure and social services offers significant prospects for growth.

Legal Framework and Strategic Advice

Investing in Iraq, however, is not without its complexities. The Legal 500's guide emphasizes the importance of legal and strategic advice for foreign investors.  3 Issues such as dealing with government authorities, understanding local market conditions, and protecting intellectual property rights are crucial considerations.

Investment Map and Opportunities

The NIC's Investment Map provides a detailed overview of investment opportunities across various sectors and regions.  2 It includes sectoral and regional data, offering insights into where and how to invest in Iraq.

Government Support for Investors

To attract foreign investment, the Iraqi government has established the One Stop Shop in the National and Provincial Investment Commissions. 4 This service facilitates the processing of investment license applications, issuing licenses, allocating land, securing tax exemptions, and easing the entry and exit of investors and their employees.

Challenges and Risks

Despite the potential rewards, investing in Iraq involves dealing with a challenging business environment. Practical issues such as underdeveloped supply chains and obtaining insurance cover, while not the top concerns, highlight the developmental stage of the market.