Frank26
The introduction of all these foreign currencies [to transact in for import/export] is the introduction of the international basket where [the dinar] will be paired and the new exchange rate will exist and grow.
I'm excited because they're stopping the CBI auctions and replacing them with value for your currency to deal with other currencies that have their own value...
Europe 'Displeased' With Trade Volume With Iraq
Money and business Economy News – Baghdad The European Union renewed its confidence in Iraq's calm and successful diplomatic steps in light of the tensions witnessed in the region and the world, stressing that the partnership with Iraq is intensive and built on trust.
While he indicated that he is following up and discussing with the government of Mohammed Shia al-Sudani the best ways to implement the vital "Development Road" project for the region and the world, he announced that the (27) member states of the Union, in light of the improvement witnessed by Iraq, are discussing how to facilitate the entry of Iraqis into it, especially for the sake of the economy and academic exchange.
The EU Ambassador to Iraq, Thomas Seiler, said: “The partnership between the EU and Iraq is intense and built on trust, and there is cooperation in many areas, especially with regard to modernizing the state and democracy, and reintegrating Iraq into the international system in terms of international rules and standards, such as the World Trade Organization.”
Trade and investment
Sayler expressed his hope for increasing trade and investment exchange with Iraq.[/rtl]
He pointed out that "the volume of trade exchange between the European Union and Iraq is not sufficient yet, it is not even half the volume of Iraq's trade balance with China," stressing that "increasing bilateral trade and European investments in Iraq is one of our main policy goals in 2025."
Iraq's diplomacy
Regarding regional and global developments, he explained that "the European Union is in continuous consultations with the Iraqi government on regional developments, and we exchange views and try to work together to face challenges, especially the situation in Syria now," expressing "the European Union's great appreciation for the successful position of the Iraqi government to calm tensions."
He also noted that "it is certain that the Iraqi consultations with Iran regarding the security situation in the region have a positive impact," stressing that "no issue in the region can be resolved through violence, but only through diplomacy and dialogue."
European visas
Regarding entry visas for Iraqis to the European Union, Sailer explained that "this is the responsibility of the twenty-seven member states of the European Union," stressing that "the European Union is aware of the increasing positive development of the security situation in Iraq."
We are working with member states to find out how to facilitate the entry of Iraqis, especially for economic and academic exchange," he added.
Development path
The EU ambassador concluded his remarks to Al-Sabah by saying: “For the European Union, the (Iraqi Development Road) project is a major infrastructure project for the entire region,” indicating that “the Union is actively participating with the Iraqi government and with Turkey to find out the best ways to implement the project, as well as with the participation of the Kurdistan Region of Iraq,” and he stressed that “European companies are working in (the Grand Faw Port) and we want to expand our cooperation.” 139 views 12/23/2024 - https://economy-news.net/content.php?id=51192
STATUS OF THE RV
I wanted to come in today and give a normal Tuesday Newsletter. However, I will try to make it shorter than normal since I know many are still shopping or making last minute preparations for spending time with family and friends over this Christmas season.
So, first I wanted to dispel some idiotic rumors once again. As normal around Christmas time these idiot intel gurus (mostly namely the TNT idiot) tells everyone that the contractors are being paid at an RV rate and this time of $3.91 per dinar.
Really? How is this possible. Simply put – its NOT.
It is stupid to even repeat such a lie. How unknowing even about the financial system in Iraq to think this could even be possible when the “official” rate of the Central Bank of Iraq (CBI) is still at 1320 dinars per dollar.
No they are not trying to covertly implement the RV slowly behind our backs. Again, more nonsense. There are no games being played here.
The CBI told us many times already they would be upfront and straight forward about the process of the RV. Oh… but once again these gurus are just speculating and that is the fashion of all their intel. When will they actually get down to telling their listeners about FACTUAL information.
Think about it…. why in hell would the finance committee pay out to contractors at this absorbent rate when at a time when the CBI is trying to reel in dollar and stabilize the economy?
Although it is what we as investors are looking for right now, it would only destabilize the economy if they do not follow the entire process all the way through.
Yes, there is a process to success of this kind of major revaluation that is coming. So, when I hear rumors such as this, I normally bump them off my CBI contact and 99% of the time they are just rumors or lies.
Remember a lie is when you damage someone or hurt someone maliciously, thus knowing that this could happen, but still tell it anyway. This is hurtful and these people should be ashamed of themselves. The intel gurus can’t hide from their responsibility and claim they are just “passing” on information. Where has common sense gone?
In today’s news we read in a couple of the articles that tell us that sudden changes in the rate of the dinar could be disastrous for the economic stability of Iraq. Opps! There’s that word again – STABILITY. Yes, how many times must the CBI tell us they need STABILITY and SECURITY in order to execute the Project to Delete the Zeros, in the next phase.
😊Please go read the article titled “ THE DOLLAR MARKET IS ON “ONE LEG”.. A NEW MECHANISM AND THE EXCHANGE RATE IS THREATENED!” I quote from the article-
“In light of these moves, news has been raised about a move towards a new adjustment to the exchange rate, which has raised economists’ concerns about the potential impact of this move on the economic process in general.”
“Experts stressed that sudden changes in monetary policy could create additional confusion in the markets and undermine confidence in the financial system.”
What are they saying in this article?
This article is not bad news but rather they are just telling us that there is a process in place to change-out the dinar to the lower denominations and effect the rate as part of this process without causing havoc.
A higher, sudden RV, if not done appropriately would cause havoc.
I explained this process and I only hope my readers are not that stupid to fall for this TNT garbage intel. They (the authors of the article above) are saying you can’t just, for instance, decide to pay out contractors at $3.91 and ignore everything else that may be impacted by such a sudden change in rate. Get it? Do you see just how stupid this idiot TNT Tony is to even repeat such nonsense to his listeners.
He just creates rumors that filter down to many of the other gurus who then use his information on their sites. His calls are all just about rumors. The rumors blossom and before you know it everyone is spreading it as if it’s the truth.
Then again when nothing happens, for the thousandth time, everyone is hurt and the stress continues. Then they come to Mnt Goat Newsletter and it affects their point of view too. Yes, it does impact my readers and this is why I try to clarify these rumors and put them to rest. And yes, I am sick and tired of having to do this just as you are reading it.
Parliamentary Committee: Iraq Is Heading Towards A Major Investment And Economic Boom
Economy |Today, Baghdad Today – Baghdad The Parliamentary Investment and Development Committee confirmed, today, Monday, December 23, 2024, that Iraq is heading towards a major investment and economic boom during the next stage.
Mohammed Radhi told Baghdad Today, "The stability achieved at the political, security and governmental levels will lead to important and large investment opportunities during the next phase, and this will generate great prosperity at the economic level, and this will lead to an important construction leap in various infrastructures."
Radhi added, "The Iraqi government has achieved successes in the investment file and strengthening the economic and financial conditions, and these successes have been positively reflected in the services, reconstruction and development file, and the next stage will show these successes more clearly through investment and economic prosperity at various levels."
In April 2024, the International Monetary Fund expected the Iraqi economy to grow by 1.4% in 2024 and 5.3% in 2025, and urged structural reforms and debt stabilization.
The Iraqi government also announced a decrease in unemployment from (16.5%) to (14.4%), a reduction in the poverty rate from (23%) to (17%), a decrease in the inflation rate from (6.1%) in 2021 to (2.5%), and an increase in non-oil revenues to (14%), after representing (7%) of the budget. LINK
HOLLY CELIANO CC HIGHLIGHTS NOTES
In this video message, Holly Celano addresses her audience with a Christmas greeting while providing updates regarding the anticipated financial changes, specifically focusing on the revaluation of currencies and bonds associated with Iraq.
She emphasizes that, contrary to various reports circulating online, no significant financial movements will occur before the New Year.
Holly reassures her audience that a transition to a new financial and governmental system is set to begin in January. She highlights the importance of patience during this period, indicating that the revaluation of currencies and the release of bond payments will not take place until January.
Furthermore, she mentions a symbolic date—January 6th, which aligns with the Orthodox celebration of the Epiphany, as a potential turning point for these financial developments.
Holly encourages her audience to remain hopeful and to celebrate the holiday season joyfully, assuring them that the anticipated changes are underway and unavoidable, with 2025 being a pivotal year for these transitions.
🔍 Impact of Misinformation: Holly addresses the rampant misinformation circulating in various forums regarding financial revaluations and bond payments. This underscores the importance of relying on verified sources for financial news, as misinformation can lead to unnecessary distress among investors and individuals awaiting these transitions. Many people hang on every word shared by various online channels, which can create unrealistic expectations and disappointment.
📈 Transitioning Financial Systems: The transition to a new financial system that Holly mentions is significant. It suggests a shift in how money is managed and circulated, which could affect everything from personal finances to global economic systems. This transition aligns with broader global trends towards modernization and digital banking, indicating a potentially transformative period for financial systems worldwide.
💵 Bonds vs. Currencies: Holly clarifies the distinction between bonds and currencies, which is crucial for understanding the financial landscape. Bonds typically represent long-term investments that may have different timelines for payouts compared to currencies that can fluctuate in value. This distinction is vital for investors, as it helps them strategize their financial decisions based on the timing of these movements.
🕊️ Symbolism of January 6th: The reference to January 6th as the day of Epiphany holds both historical and spiritual significance. This date has traditionally been associated with the arrival of gifts, symbolizing hope and new beginnings. By linking this date to potential financial developments, Holly provides a sense of optimism and encourages her audience to view it as a time of renewal and opportunity.
📅 The Importance of Patience: Holly’s message emphasizes the value of patience during times of uncertainty. This is a critical insight for those involved in investments or waiting for financial changes. Understanding that significant changes may take time can alleviate anxiety and encourage a more measured approach to investments and financial planning.
🌍 Global Implications of Financial Changes: The transition to a new financial system not only affects individuals but can also have implications for international relations and economic stability. As countries like Iraq undergo these changes, the ripple effects could influence global markets and trade. Observing these transitions can provide insight into the future of international economics.
🌈 Hope and Positivity: Finally, Holly’s message is one of hope and positivity amidst uncertainty. Encouraging her audience to embrace the holiday season joyfully and to remain optimistic about the future reinforces the idea that good things are on the horizon. This positive outlook is essential for maintaining morale and motivation during challenging times, especially for those who have invested emotionally and financially in these anticipated changes.
Overall, Holly Celano’s video serves as a reminder of the importance of patience, the impact of misinformation, and the hope that accompanies new beginnings in the financial landscape.
MAJEED
WOW..... HERE WE HAVE A VERY IMPORTANT Piece of data!!!
Iraq must RV Internationally immediately and Parliament ordered the different foreign exchanges operating in Iraq to begin to gear up for a update for International transactions...
This is a huge piece of the puzzle of bringing in Cash Flow!!
Expected Rise In The Dollar... "Temporary Shock" Awaits The Iraqi Market
Economy |Today Baghdad Today – Baghdad The "Iraq Al-Mustaqbal" Foundation for Economic Studies and Consultations expected, today, Monday, December 23, 2024, an increase in the dollar exchange rate during the next few days, following the announcement by the Central Bank of Iraq to stop the currency transfer window platform.
The head of the institution, Manar Al-Obaidi, said in a statement to "Baghdad Today", that "the suspension of the Central Bank's currency transfer platform, which was officially announced on 12/23/2024, will lead to a temporary rise in the dollar exchange rate in the market as a result of the prevailing state of fear, but things will return to normal with the beginning of the new year."
Al-Obaidi added, "This decision had been previously announced by the Central Bank, but such measures, when implemented, cause a shock to the market, leading to a temporary rise in the exchange rate, before the shock is gradually absorbed."
He explained that "the difference between the official and parallel markets will remain, but it will shrink as the situation stabilizes."
Economic expert Nasser Al-Tamimi warned, on Tuesday (December 17, 2024), of a rise in the dollar exchange rate in Iraq in the coming days.
Al-Tamimi told Baghdad Today, "There are real fears in the Iraqi market of the continued rise in the dollar exchange rate after the Central Bank of Iraq stopped working on the platform," indicating that "this matter will constitute a shock, especially at the beginning of implementing the decision and will lead to a rise in the dollar, to increase demand for it in the parallel market."
He added that "after the platform is stopped, most traders, especially small ones, will depend on the parallel market to finance their foreign trade, while continuing to finance trade with Iran and Turkey in dollars, through illegal means," noting that "this is what will lead to the rise, and therefore practical steps must be taken to prevent this by the country's monetary authority, and urgently."
The Central Bank of Iraq revealed on Wednesday (September 4, 2024) the mechanism for ending the electronic platform for foreign transfers, while indicating that the placement of foreign transfer operations and meeting requests for the dollar are on sound paths and consistent with international practices and standards. LINK
Nader From The Mid East
I feel it's very very, we are very very very very close. Very close.
Like very close guys.
I feel like once they stop the auctions everybody is going to be happy about it. I think it's going to be stopping on the 28th...70% to 80% [chance].
The thing I saw and made me very happy...When you see the Saudis coming with their money, now we can trade their monies, the UAE and all the Middle East countries, almost. Turkey, Saudis, Kuwait, Qatar.
Now we can exchange our dinars with their dinars, durham, riyal, with anything like that. That's very big guys cuz the dollar...yuan Chinese, the euro is already there.
Now we have all continental of Europe...Middle East...United States and now it's missing a little bit of Africa and we're done.
Other ones like Canada does whatever the United States do. Australia same thing. That made me very happy.
That means soon we'll be in every bank in United States.
It will be tradable. If it's tradable it's going to gain a lot of values and quick.
New Conditions From The Iraqi Central Bank For Buying And Selling Foreign Currencies
DATE: 2024/12/22 Electronic payment companies / two accessories
Exchange and mediation companies selling and selling foreign currencies
5 / Digital payment providers
Due to the availability of all the requirements for appointing the agent mentioned in (Chapter Two /
First / The Requirements of the Agent) from controls
The work of the providers of digital payment services for a year 2020 and the fact that exchange companies are my category (A,B) and the mediation companies by selling and selling
Foreign currencies Venice (C) licensed from this bank and is subject to its supervision and monitoring; The following decides:
1- Allowing exchange companies Vinte (A,B) and mediation companies to buy and sell foreign currencies (C) Digital payment services / accessories to provide cash withdrawal service (POC) according to the following conditions:
1- The agency/ executor in the name of the company should be limited and not owned by natural people.
A- The agency's services are provided inside the company’s headquarters and its branches exclusively.
B- The company informs this bank when contracting with the digital payment service and providing it with a copy of the signed contract The two parties.
C- Closing the agency / port in the event that this bank withdraws the company's leave.
D- The agency's domestic payment service for the agency took a written pledge from the company wishing to contract with him not to own any
A shareholder / executive and operating outside the exchange of the exchange or mediation company.
2- In the event that one of the shareholders or director of the exchange and mediation companies has an agency / port in his name and works outside the headquarters
The company can integrate the agency / port with the company and allow it to transfer its ownership in the name of the company in exclusivity and inform this bank that
An exception to the blindness of this bank number (114/10/9) on 2/22/2022, which includes not transferring the ownership of agents/withdrawals outlets POC; In the event that the agent / the perpetrator wants to leave the work, the digital payment companies must end the contract and take
The appropriate procedures for them not to sell the agency's ownership and its transmission.
With appreciation. https://observeriraq.net/شروط-جديدة-من-المركزي-العراقي-لبيع-وشر/
MILITIAMAN CC HIGHLIGHTS NOTES
📜 Government Support for Rule of Law: The government’s backing of the Federal Supreme Court signifies a commitment to legal reforms, which are crucial for establishing a stable political and economic environment. This move is expected to enhance investor confidence and facilitate the implementation of new laws that support economic development.
🌐 Tourism as an Economic Driver: Al Sudani’s focus on tourism highlights the government’s strategy to diversify Iraq’s economy. By promoting its ancient civilization and archaeological sites, Iraq aims to attract tourists, which could generate significant revenue and reduce dependence on oil exports.
📊 Shift Towards Digital Economy: The introduction of the electronic passport system and the transition to a cashless economy are indicative of Iraq’s efforts to modernize its public services. These initiatives are expected to streamline operations, improve efficiency, and reduce corruption, thereby fostering a more transparent and accountable government.
🏦 Reform of the Banking Sector: The Central Bank of Iraq’s reforms, including the establishment of correspondent banking relationships, are essential for integrating Iraq into the global financial system. These changes will facilitate foreign currency transactions and improve the overall efficiency of the banking sector.
📈 Potential for New Exchange Rate System: The discussion around a new exchange rate system reflects the Central Bank’s intentions to stabilize the economy. The anticipated adjustments may help mitigate inflationary pressures and restore confidence among investors and the public.
🤝 International Financing Support: The interest expressed by major international banks like JP Morgan to support Iraqi trade financing operations is a significant endorsement of Iraq’s economic potential. This relationship is expected to enhance Iraq’s access to global markets and investment opportunities.
🔄 Adapting to International Standards: Iraq’s commitment to aligning its banking practices with international standards is crucial for attracting foreign investments. By adhering to compliance regulations set by global financial institutions, Iraq aims to enhance its credibility and operational efficiency, ultimately leading to economic growth and stability.
An expected rise in the dollar...a “temporary shock” awaiting the Iraqi market
However, things will return to normal at the beginning of the new year.” Al-Obaidi added,
"This decision had been previously announced by the Central Bank,
but such measures, when implemented, cause a shock in the market, leading to a temporary rise in the exchange rate, before the shock is gradually absorbed." He explained that
"the difference between the official and parallel market will remain, but it will shrink as the situation stabilizes."
On Tuesday (December 17, 2024), economic affairs specialist Nasser Al-Tamimi warned of a rise in the dollar exchange rates in Iraq in the coming days. Al-Tamimi told “Baghdad Today” that
“there are real fears in the Iraqi market about the continued rise in dollar exchange rates after the platform was suspended by the Central Bank of Iraq,” noting that
“this matter will constitute a shock, especially at the beginning of the implementation of the decision and will push for a rise.” The dollar, to increase demand for it in the parallel market.” He added,
"After stopping the platform, most merchants, especially small ones, will depend on the parallel market to finance their foreign trade, while continuing to finance trade with Iran and Turkey with dollars, in illegal ways," pointing out that
"this is what will push the rise and that is why practical steps must be taken to prevent This is done by the monetary authority in the country, and urgently.”
On Wednesday (September 4, 2024), the Central Bank of Iraq revealed the mechanism for ending the electronic platform for external transfers, while
indicating that placing external transfer operations and meeting requests for the dollar is on sound paths and consistent with international practices and standards.
https://baghdadtoday.news/264515-ارتفاع-مرتقب-للدولار.-صدمة-مؤقتة-بانتظار-السوق-العراقي.html
ARIEL
Iraqi Dinar Update
I can understand why this would be the case for the Central Bank of Iraq and determine a cohesive strategy for their new exchange rate.
As we know speculation can run wild once they reinstate their currency. Releasing a new exchange rate during a period when markets are closed or less active, such as during Christmas, could indeed provide a strategic window.
This timing allows for adjustments in the currency valuation without the immediate pressure or volatility that might come from active trading.
This could minimize the risk of speculative attacks or undue market reactions. Introducing the new rate just before the weekend gives the Forex markets time to adjust over a couple of days before the new week starts.
This buffer can be useful for banks, traders, and the financial systems to recalibrate without the intensity of a full trading week’s pressure right away. Will everything go according to this plan? Not sure but it does make perfect sense. As we know others are saying they could delay it to July 2025 because of the digital transformation. Which I highly disagree with.
Because for one Starting a new fiscal year with an adjusted rate would simplify financial reporting and economic planning for businesses and government entities. It allows for a clean slate where all financial transactions from January 1, 2025, would be based on the new rate, reducing confusion and making economic analysis more straightforward.
While full digitalization by July 2025 might be an ambitious goal, Iraq has already taken significant steps towards digital banking. The introduction of digital payment methods, mobile banking apps, and efforts to reduce cash reliance indicate a progressive move towards digital finance.
This groundwork suggests that even if full digitalization isn’t complete, substantial progress has been made, potentially sufficient to handle a currency revaluation without needing to wait until July 2025.
