STATUS OF THE RV , PART. 5
So, this next statement made by Al-Tamimi is also all telling in what the next stage is going to be and what they need to get there. I believe she is saying this because they are ready already for the next stage.
She explained that the Central Bank has replaced the electronic platform “with regular and natural transfer mechanisms”, through solid local banks, which provides merchants with direct ways to transfer money, stressing that these mechanisms contribute to their obtaining the dollar at the official price, which helps in gradually reducing inflation as a result of the stability of the official dollar price.
Oh … but here is the juicy part of Al-Tamimi’s commentary in this article. He also stressed that “with this measure, the need to deal in the unofficial dollar on the black market is reduced, which enhances the stability of the financial market in Iraq.” So here it is said again. How many more times must we hear this before it sinks in what is holding up going to FOREX, the next stage?
Today is Thursday and I did have a conversation with my CBI contact yesterday. This is why I am very excited today when I pulled this article off the Iraqi news channels. I could hardly believe that now the economic experts have finally turned to the mantra. The new mantra is – LETS GO TO FOREX! This was the same tone in my conversation. My contact sounded VERY excited and anticipatory.
😊There is another article that I want to address the title is “ADVISOR TO THE PRIME MINISTER: IRAQ IS WITNESSING AN EXPECTED INVESTMENT BOOM IN 2025”
The article says that advisor to the Prime Minister for Financial Affairs, Mazhar Muhammad Salih, confirmed today, Wednesday, that the Iraqi economic path is moving in the right development direction for the coming years, while indicating that economic growth in 2024 constitutes an incentive to expand economic activities in Iraq.
Saleh said, in a statement to the Iraqi News Agency (INA): “There is a principle in the economy called the economic accelerator, which means that the growth in the non-oil GDP, which reached 6% in 2024, will be positively reflected in the strength of national investment in 2025.” He added, “The Iraqi economy will witness a high investment boom in 2025 thanks to the economic accelerator factor in the investment field, in addition to the high positive growth effects of national income in 2024.”
Okay so what does this all “accelerator” stuff mean?
This means that when you get to a point in your growing economy, with the right policies and laws in place it is ready for takeoff, like an airplane that is all gassed-up, the pilots have conducted their sequence of flight checks and all passengers are seated and buckled up. Like the airplane, the economy can then take off.
For the economy it's “exponentially”. Like an airplane that has to use the bulk of its power just on takeoff to get off the ground, the same applies to an economy’s growth.
But once the plane is in the air it can stay up in the with less force and glide through the air with its engines and so will the Iraq economy. That is what is going to happen in 2025. Through 2023 and 2024, the right policies and laws were put in place.
The right measures needed for this growth and takeoff are finally attracting investors and we even see it in three (3) of today’s other articles too for this period titled:
😊“AL-SUDANI: IRAQ IS AMONG THE MOST ATTRACTIVE COUNTRIES FOR INVESTMENT DURING THE PAST TWO YEARS”
😊“SHELL OIL COMPANY ANNOUNCES ITS READINESS TO INCREASE ITS INVESTMENTS IN IRAQ”
😊“IRAQ SIGNS A MEMORANDUM OF UNDERSTANDING WITH THE BRITISH EXPORT CREDIT GUARANTEE CORPORATION.. AND THESE ARE ITS OBJECTIVES”
Are you listening to what Saleh is telling us?
WOW! WOW! WOW! WOW! WOW! WOW! and WOW! again! The news today is mind blowing and I hope everyone shares this passion too. It seems now that Iraq is moving into the BIG TIME and I mean major plays are flocking to Iraq to invest their money. This is not Mnt Goat over exaggerating this notion. It is Iraq themselves showing us proof.
The news is NO LONGER all about putting measures in place, such as the banking and financial reforms we have been reading about, but the “next step”. But what will the next stage look like? Will it be what we expect and want as dinar holders and investors?
I also do not want to downplay any more reforms either as they will be ongoing too. But the question I pose is has Iraq finally reached this turning point we all have been waiting for? Is it time?
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