STATUS OF THE RV PART 4
Okay, so let’s get to the more juicy news of this period….
Like in the above referenced articles defining security, we now read articles defining “stability”. So, what does stability mean to Iraq? It appears it is a term used to describe the financial status of the national currency. We read in the article titled:
😊“SUDANESE ADVISOR: DIGITAL TRANSFORMATION OF THE NATIONAL CURRENCY IS A STEP TOWARDS FINANCIAL SYSTEM STABILITY.”
The Prime Minister’s Advisor, Mazhar Mohammed Saleh, stated on Thursday that the digital transformation of the national currency is an important step towards enhancing the stability of the national financial system. Saleh stated that “the digital transformation of the national currency represents a stable and transparent payment instrument that contributes to improving the efficiency of the national economic system .”
😊“CENTRAL BANK: DIGITAL CURRENCY REDUCES CASH FLOW OUTSIDE BANKS ”
On Thursday, March 20, 2025, the Governor of the Central Bank of Iraq, Ali Al-Alaq, described digital currency as “limiting the flow of cash outside banks.” He also spoke of a plan to establish a data center that would serve as a foundation for digital transformation. Alaq also repeated his prior statements in that the Iraqi government faces challenges in managing dinar liquidity, as it suffers from a chronic shortage of this currency, affecting its ability to meet its financial obligations to pay employee salaries, repay debts, and finance projects. Do you know what I think of this last statement? I say they have billions and billions of currency outside their country in the hands of us investors. Why not come to get ours and do it now? Oh… but we are not going to let go of ours until you first give us the revaluation we deserve as long-term investors in the dinar. They know it too and so why don’t they ever talk about our dinar?
😊“CENTRAL BANK GOVERNOR: WE ARE WORKING TO ESTABLISH A DATA CENTER THAT WILL BE A SUCCESS FACTOR FOR DIGITAL TRANSFORMATION”
The Governor of the Central Bank of Iraq, Ali Al-Alaq, confirmed on Thursday that the digital currency the bank intends to launch will enhance transparency and limit the flow of cash out of banks. Remember this article is telling us the intend to limit the cash out of the banks not eliminate it altogether. Alaq also revealed plans to establish a data center that will serve as a successful foundation for this digital transformation.
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