STATUS OF THE RV
I wish everyone enjoyed a Holy and Happy Easter week, Resurrection Sunday and the season that will follow.
No! The RV did not yet happen. The IQD is not yet trading on FOREX and certainly there were no banker’s meeting with Trump at Mara Largo to announce an RV. Yes, these are the stupid rumors once again this week. I guess the idiots will always be with us.
Now it’s time to get down to business with the Iraqi dinar revaluation status once again. I wanted to summarize where we are now with this reinstatement. I have quite a few juicy articles about the economy and the dinar to share. One article in particular gives us some insight as to why we have not yet seen the announcement of Iraq’s full accession to the World Trade Organization (WTO).
😊The article is titled “AL-NUSAIRI CONFIRMS THAT THE CENTRAL BANK’S APPROACH TO BANKING REFORM AND DEVELOPMENT CONTRIBUTES TO ACCELERATING IRAQ’S ACCESSION TO THE WORLD TRADE ORGANIZATION.” During his participation in the specialized workshop held by the Ministry of Trade to discuss Iraq’s accession to the World Trade Organization, Samir Al-Nusairi, Economic and Banking Advisor, emphasized the role of the banking sector in contributing to accelerating Iraq’s accession to the organization and the important role of the financial and banking sector in it.
He pointed to the measures achieved in 2023 and 2024 by the Central Bank in cooperation with the government, mainly regarding the regulation of foreign trade financing, the electronic platform, and direct work between banks and international correspondent banks, based on the approved reform and development methodology, official data, and monetary policy indicators for 2024 and the plan for 2025 and 2026, in cooperation with international consulting companies specialized in this field, and compliance with financial globalization and international standards adopted by WTO member states.
Yes, what is holding it up? Remember the WTO did already tell us Iraq has met all the requirements. They told us this over a year ago. Does Iraq need a globally traded currency for “full accession”?
