MNT GOAT: 🟢 STATUS OF THE RV: Iraq’s Political Clock, White Paper Reforms & the Narrowing January Window
🟢 STATUS OF THE RV: Iraq’s Political Clock, White Paper Reforms & the Narrowing January Window
⚠️ Disclaimer
This article reflects analysis, documented developments, and opinion based on publicly available information. It is not financial advice. Readers should consult qualified professionals before making financial decisions.
🍾 Keep the Champagne Cold… The Show Isn’t Over Yet
If there’s one message to take away right now, it’s this:
👉 Don’t pop the champagne yet.
As the saying goes, “The show is not over until the fat lady sings.” We are in mid-December, and while momentum is undeniable, timing remains fluid.
The Central Bank of Iraq (CBI) may still proceed with removing the zeros in preparation for a January release, but it does not have to occur on January 1st. There are 31 days in January, and several execution paths remain open.
📊 Facts Over Opinions: Where Are We Really?
There are no opinions here — only facts and evidence.
What we know:
The plan to reinstate the dinar, based on Dr. Shabibi’s original framework, is clearly underway.
What we do not know is the exact timing.
Evidence increasingly points to early 2026, not 2027.
The goal remains clear: ➡️ Normalize the dinar and return it to FOREX trading.
🇮🇶 IRAQ FIRST: Parliament Session Set for December 29
One of the most critical developments:
Iraq’s first parliamentary session is officially set for December 29.
This matters because:
Parliament is the first branch of the new government
Why did Dr. Shabibi push for reinstatement in 2012–2013?
Why was he removed?
Why did ISIS emerge shortly after?
Who benefited from delay?
History suggests: ➡️ The longer the dinar remained suppressed, the easier it was to control Iraq.
🟢 A Major Signal: UNAMI Mission Ending
One of the strongest confirmations yet:
“Ending the UNAMI mission reflects the progress and stability achieved.”
This is:
A declaration of sovereignty
A move out of sanction-era oversight
A signal of normalization
📌 This is icing on the cake.
📌 Featured Snippet: Quick Summary
As of December 16, 2025, Iraq is finalizing government formation, re-engaging White Paper reforms, and aligning IMF-backed currency policies. With parliament convening December 29, early January remains a critical window for dinar normalization and potential reinstatement.
❓ Q&A: RV Timing & Iraq Status
❓ Is the RV still possible in early January?
Yes. Evidence strongly supports an early January window.
❓ Does the budget need to open first?
No. It’s easier if it does, but not required.
❓ Has the White Paper been abandoned?
No. It is actively guiding reforms.
❓ Is resistance slowing progress?
Yes — but resistance is weakening.
⏳ Final Thoughts: Has Anyone Moved the Cheese?
As of today:
🧀 The cheese is still there
🕰️ The clock is ticking
🇮🇶 Iraq is at a historic crossroads
The next few weeks will define Iraq’s future for decades.
If I were you, I would keep the champagne in the frig. The show is not over until the fat lady at the circus sings….. lol.. lol..
It is early December and the CBI may still go ahead with removing the zeros in time for a January release. Oh… but remember it does not have to happen exactly on January 1st as there are thirty-one days in the month. They could also change the plan and remove the zeros in early January and release in late January. There are options.
I want to thank everyone for your comments in the blog and expressing how you feel about the RV timeline for Iraq. There are no “opinions”, we must look at the FACTS. We can clearly see that an attempt to reinstate the dinar according to Dr Shabibi’s plan is underway. What we don’t know of course is when. Will it happen in 2026 or 2027? There is much more evidence that everything is pointing to early 2026 for them to normalize the dinar and place it back on FOREX for trading.
IRAQ FIRST
We are told today that parliament will begin its first session on December 29th. WOW! That is very close. Remember parliament is the first of the three branches of the new Iraqi government that must formed and after the election. So, we see parliament will begin within the window for the early January CBI target. We also know that the new president of Iraq must then be announced and he will eventually introduce the new prime minister. See the recent article titled “A PRESIDENTIAL DECREE SETS THE 29TH OF THIS MONTH AS THE DATE FOR THE FIRST PARLIAMENTARY SESSION.”
The President of the Republic issued a presidential decree on Tuesday setting the date for the first session of the new parliament on December 29, to be chaired by the oldest member. Also see the article titled “FROM RATIFICATION TO GOVERNMENT FORMATION: CRUCIAL CONSTITUTIONAL STEPS IN THE PATH OF THE NEW IRAQ” for more information. What’s next?
We have been told that Iraq is going to try the 3-year budget again and there will be another tripartite budget for 2026-2028 and it can’t be opened until it is voted on and passed in the new parliament. Will this be one of the first legislative tasks in the new parliament?
Do they want to take up the Oil and Gas law and get this mandate completed? Will this be another one of the first legislative tasks in the new parliament?
Remember the reasoning behind Dr Shabibi telling us that January is the “best opportune time to reinstate the dinar with a significant rate” is that the annual budget its supposed to be ready to open and allocated out to spend in January. But obviously, this may NOT going to be the case but it may be close. Is this maybe why we have not yet seen the removing of the zeros during the fall months as the CBI planned to do? Remember that the CBI is ready but the GOI has to always play catch up.
To show you just how close we are to the reinstatement in today’s Newsletter we will first be going through a past journey we all just experienced under Al-Sudani as the prime minister working with Ali Al-Alaq in the CBI. We will use a couple recent new articles about the White Paper. Yes, the White Paper sticks its head up again for us to notice about the reforms. What does it say and why are they bringing this up again in two recent articles? Ironically, it seems two economists are debating whether or not the White Paper began the reform process. It is all silly stuff as we all know by our study so far that it did and was the driving force.
If you recall from the White Paper on page 50 it says that the objective of the White Paper initiative is to get the dinar back trading on FOREX paragraph ( c) item 6. Of course I am paraphrasing. But again, there is opposition to the White Paper as these two articles are not very friendly to what the CBI has been doing over these last four years and since the White Paper initiative took hold. The White Paper was written in 2019-2020 but really did not take hold until 2023 when the GOI and CBI began their more positive move to implement it under al-Sudani.
Deputy Prime Minister & Minister of Finance Dr. Ali Allawi discusses with representatives of ministries & relevant authorities the stages of implementing the White Paper for economic & financial reform, to ensure that the reform program proceeds according to the approved plans.
Yes, there were necessary structural banking and financial changes. The reforms had to first take place before FOREX. We witnessed these reforms and so now it is time to move to FOREX. Do you recall these “Pillars of Financial Reform”?
You might want to revisit my link on the blog and refresh your memory on the White Paper. Yes, there is aLINK to actually read the entire White Paper. No guessing, no opinions and especially no TNT, Markz or Bruce rumors……
ITS TIME TO EXECUTE THIS PART OF THE WHITE PAPER!
Opening other specialized markets in the country under the umbrella of the Securities Commission, i.e. the commodity market, in cooperation with counterpart bodies in other countries, and the currency exchange market (Forex).
CONTRADICTIONS.
So, let’s dive deeper into today’s key articles and take a look at the contradictions by the economists. The complete title of today’s controversial article is “DOLLAR RISE, SALARIES CUT, AND NO FOOD RATIONS… EXPERT: IRAQ HAS BEGUN IMPLEMENTING THE “WHITE PAPER”.“On Friday, December 12, 2025, economist Nabil Al-Marsoumi spoke about the repercussions of the “White Paper” adopted by the International Monetary Fund and the World Bank to manage economic crises in developing countries, which Iraq has begun to implement.”
It is obvious by the title alone that the author believes the FOREX move will rise the dollar, cut salaries and end food rations (food stamp program). And yes, it probably will do most of it. Hey Iraqi’s if you are reading my Newsletter today, I am telling you it is going to be much better on the other side once the dinar is on FOREX and investment money and jobs flow into Iraq. You will no longer need food programs designed only to help you through the war-torn embargo/sanctioned days so people didn’t starve. These days are over, get it? It is now time to step out of these dependencies. You will not need low-paying jobs with erratic payment schedules and NO the dollar will not rise as it will be squashed. This author is FEAR mongering.
Instead, the author should be encouraging what is about to happen and give the citizens the advantages as we have read in so many other recent articles. These economists need to educate not discourage the citizens.
I find it very interesting that the author points out a list of ten (10) items consisting in
the economic reform package (White Paper) adopted by the International Monetary Fund. Two of which I find are VERY interesting and consist of:
1.Reducing the exchange rate of the national currency and then floating it.
2.Liberalizing all prices and trade.
So, the author points out two parts of the reform package we, as investors, want to see happen. These two items on his list are the real guts of this article for me, how about you? They expose once again what the CBI is about to do and the author apparently does not like it and is criticizing it.
Then there is the second article titled “MY PERSPECTIVE ON THE DINAR AND ECONOMIC REFORM, BASED ON WHAT DR. NABIL AL-MARSOUMI WROTE ABOUT THEM”. Again most of this is just non-sense. He bashes Al-Marsoumi’s article but he too promises no real solutions for Iraq to progress. His “opinion” actually makes no sense and contradicts most of what the CBI is trying to accomplish. Doesn’t he also realize all the reforms already done and the ongoing Banking Reform Plan? Again, opinions with no real FACTS to back it up are just opinions. It again is short-term thinking. It is not visionary, forward thinking towards a western world of progress and only thinks about the Saddam Hussien era of living in a socialist society. Seems he wants this socialism to continue. I got to tell you I almost fell off my chair when I read such nonsense. Are these two economists Al-Marsoumi and Dr. Shawwan Zangana socialists?
Although Dr Zangana does make one sound point and I quote from his article: “Corruption and mismanagement have brought Iraq to this state, and its continuation means the inevitable failure of reform measures. I think the time has come for the marginalized class of the national elite and entrepreneurs in the markets to take their place in the constructive and effective contribution to managing the course of the economy in Iraq, whether those in power accept it or not.” This statement makes me believe this guy lives in his own bubble of a world from the past and has not yet grasps the magnitude of the changes (reforms) that have already occurred over these last four (4) years and are still ongoing with the CBI Banking Reform Plan.
I also do not understand his opening statement and I quote “The “White Paper” was never a reform paper, and it never will be.” To me this statement alone tells us just how out of touch Dr Zangana really is with reality in Iraq. Is he playing politics or economics in his statement? Is he really an educated economic professional?
If he would only take the time to actually read the White Paper, he would clearly see it was a recipe to reform from the standpoint of the three main ‘Pillars of Financial Reform”. The document even goes in-depth on the what has to be corrected. Yes, the White Paper does not address all the solutions but it clearly states it is a “working paper” designed as a starting point to begin the reforms and what areas needed to be addressed. How can this not be about reforms? The CBI has also addressed directly the White Paper in its statements on the reforms taking place. Remember this picture? It was formulated by the CBI.
How many times have I referenced this picture to you? The main driving reforms are right out of the White Paper page 47. Go read it yourself. The picture I present to you is from the CBI as it described these three main areas of concern in a report on this matter in 2023, which they didn’t want to talk about the White Paper perse as it was from another administration. Yes, politics again. They wanted their own version of the White Paper. But the principles and doctrine is the same. In fact, they really never came out with a similar document and just reengineered the White Paper in their actual reform program under al-Sudani. My question now is that al-Sudani has to continue the reforms all the way through and we know he must support the CBI in the removing of the zeros and the reinstatement. I do not want to think about what would happen if the forward-thinking al-Sudani does not get a second term and another prime minister is selected thinking like these two economists Al-Marsoumi and Dr. Shawwan Zangana. Oh boy!
CHANGE IS HARD.
Why do these economists fight this change so much? This is what Ali Al-Alaq, the governor of the Central Bank of Iraq (CBI) has to contend with. It is obvious that these many economists in Iraq are not neutral in their “opinions” and they are bias towards social programs that drain Iraq and were keeping it back from any progress forward.
This is a reason why I keep telling you it is an uphill battle to finally “normalize” the Iraq dinar and bring it back to its glory days. These economists are short-sided, unprofessional in their studies and do not realize (or want to realize) the true potential of the Iraqi dinar in moving back to FOREX. They don’t realize what is at stake and must first take place and that there is going to be some pain in the process. Or maybe they do realize it and just want try to stop any real progress with their propaganda messages. Are they also backed by Iranian influences and so of course they do not want any real change to their system of opportunities for money laundering to Iran. The ultimate proof of the reforms is the inflation rate and it has been less that 1% for years. This is in part the IMF criteria for STABILITY and yet they don’t even recognize it in any of their analysis.
Remember also many of these economists in Iraq studied and grew up under Saddam Hussien’s socialist economy and so they are used to giving away freebies to the people as a means of controlling the people. It is apparent their thinking in a capitalistic, free market economy has not yet adjusted and grown. In a free market the people’s wealth comes from the earnings from job salaries, benefits and entrepreneurship. It is not given as handouts. Everyone should have a fair chance to move ahead to the next layer of social standing and wealth class. It should be the government that monitors and helps the process to ensure the constitution and republic is sustained to provide these things.
These economists do not seem to be educated in this thinking. Are these social handouts now what is hurting Iraq and hindering its success as billions have to be paid out each month on government salaries and benefits. Is this choking Iraq? This money can’t be used to rebuild the war-torn Iraqi cities. Everyone seems to work for the government. This is the ‘rentier’ economy that must change. Iraq is too dependent on the oil revenues to keep the economy going. If oil slips so does Iraq. It is funny how in these two economists they do not talk about this, do they? They offer no solutions only more free handouts. By reading these articles today one can’t help but think that people like these short-sited economists in Iraq are really “part of the problem” and “not the solution”.
WHAT ELSE IS IN THE NEWS?
So, this negative news is mostly propaganda and we can pick out some good aspects from it. As if this news about the resurrection of the White Paper was not enough fake negative news we read in another article titled “HANTOUSH: INTERNATIONAL FINANCING DIFFICULTIES AND EXCHANGE RATE CHALLENGES THREATEN THE STABILITY OF THE IRAQI ECONOMY.”
“Economic and banking expert Mustafa Hantoush confirmed on Thursday that Iraqi companies and the private sector are facing significant difficulties in obtaining international loans to finance major projects due to Iraq’s low credit rating and the high costs of guarantees and interest rates on foreign loans.”
Really? Is Hantoush just bashing Iraq again? Yes, yet another economists, a downer, that does not truly understand Iraqi economics. Is he too part of the problem and not the solution? I will prove my point when the following article below came out just after Hantoush’s commentary.
Then in another article comes out about the Iraq credit rating of a (B-) and again challenges what was said in the other article. This rating is not so bad if you ask me considering that the dinar is still suppressed and the country is growing the way it is. Also, in the recent news about the Iranian militia and the U.S. stance on it. See article titled “FITCH AFFIRMS IRAQ’S CREDIT RATING AT (B-) AND PRAISES “INTERNAL STABILITY”
I quote from the article “The Iraqi Ministry of Finance announced on Monday that the international credit rating agency Fitch has affirmed Iraq’s sovereign rating at (B-) with a “stable” outlook. The ministry said in a statement, received by Shafaq News Agency, that this step reflects international confidence in the ability of the Iraqi economy to maintain its financial and credit stability despite the current global and regional challenges.”
Why is Hantoush so down on Iraq? Is this more propaganda? Again, change is hard.
What I did like about Hantoush’ s article is his statement and I quote “He also noted the existence of “huge amounts of cash held in homes, estimated at 70 to 80 trillion dinars, which have contributed to speculation in the real estate market and an unjustified rise in prices, necessitating a sound monetary policy to control the markets.” He concluded by emphasizing that “the continuation of the current situation without genuine reforms will lead to a deterioration of economic and social conditions, with increased poverty rates and greater pressure on salaries and market liquidity.” So, the pressure mounts even from the economists that realize this stashed cash must be freed up to liquify the banks. As investors following this RV saga we know this probably will not happen until they execute the deletion of the zeroes project and force they to turn in these hordes of money.
Like the U.S. in its last election, Iraq too could never be at a more critical time in its modern-day history, than right now. The results to their last November election will either make or break Iraq. I believe that Iraq will make the correct choice and chose prosperity and growth over the terrorist organizations residing in Iraq. To me it makes common sense they would but we all know this is often not applied in politics…lol..lol..lol…
In the article titled “WHAT AWAITS IRAQIS IS “WORSE THAN OCCUPATION”… A SUMMARY OF WASHINGTON’S MESSAGES AND ACTIONS TOWARDS BAGHDAD – URGENT.” We can see once again the double-edged sword with the dollar. Of course the U.S. is going to use the dollar as leverage to create some sanity in this last election cycle.
How much news have we read about Iraq in ditching the dollar over these last couple years? Yes, they de-dollarized Iraq (except for the black market) and after reading this article today you will fully realize why. I encourage everyone to go read it. It is long and I can’t take up too many pages here to analyze it. I will just add a few comments below.
So, we can clearly see yet more progress today of Iraq stepping out of the sanction mode and moving to the global economy once again and the resistance to it. Yes, it is an uphill battle. We should all know the resistance is caused by too many years in the unwarranted sanction mode and the mindset that set in of thinking that corruption was going to be the future of Iraq and even the rule of law, as just this year parliament was going to take up a bill to legalize and fund the Iranian militia. Of course the U.S. stopped this nonsense. But we must ask what the hell is going on in Iraqi thinking.
Yes, a proxy Iranian puppet state funneling their oil revenues to Iran, meanwhile cities, schools, churches, hospitals, essential services are lacking. The economists today in the articles even complain about the situation in lack of services for the average citizens. But do they realize why? Do they realize trillions, not billions have been stolen from Iraq and how Iraq could have been rebuilt twice over will all this money. Yet Iraqi citizens stay in poverty. Oh boy… sounds like what they wanted to do in the U.S. too feeding and housing all these illegal immigrants, yet there are homeless and hungry American citizens. So, who is behind all this irrational thinking?
In Iraq the main driving force, if you really think about it, is the hinderance of stopping this madness by the continuance to sell oil for dollars only (petro-dollar). This idea was instituted to, so-called help Iraq get through the embargo and then the Chapter VII sanctions. But these sanctions are all over now and so Iraq keeps asking why are we still selling oil for petro-dollars?
I ask the same question too…. lol.. lol.. lol.. Let’s now also forget that right now the dinar is still on the sole de facto peg to the US dollar. Is the dollar really helping or hindering Iraq at this point in time? Is it time to “fully” ditch the dependency on the dollar in all aspects? Yes, all aspects! We see that trade payments have taken a partial step away from the dollar as Iraq is not allowed to pay for imports in any currency.
But again, I have to add that the process of dollars has been in place too long already and “so change is hard.” So, this article today is giving us yet more reasons why Iraq has to totally ditch the dollar. The U.S. might use it currently to bribe Iraq once again to do its bidding but this only adds more gasolene to the fire and motivates Iraq even more to DITCH THE DOLLAR. Remember that Iraq can’t ditch the dollar entirely until it changes it sole peg to a basket of currencies, goes back to FOREX trading, floats the dinar. The U.S. knows this is inevitable too.
This always bring me to yet the point I need to make once again. The point I need to make clearly today is this – is this stagnation and slow movement out of the sanction mode (now almost 4 years) really the reason why Dr Shabibi wanted to remove the zeros and reinstate the dinar way back in 2012-2013? Did he know something back then that we are now only realizing?
Folks that was twelve (12) years ago even before ISIS invaded Iraq and the Iranians moved in. Get it? Then the ISIS war began the following year – coincidental? Did some entity behind the scenes see that it was to becoming more and more increasingly harder to hold back the liberation of the Iraqi dinar under Dr Shabibi? Is this why they ousted him from the CBI and created this ISIS war scenario?
Of course, we all should realize by now the December 2012 allegations of corruption in the CBI was a narrative served by Nori al-Maliki probably either by the CIA or the Iranians. Is this why the Obama foreign policy in the middle east actually favored the Iranians so much? Think about it – he pulled all US troops out of Iraq in December 2012 leaving the door wide opne for ISIS.
Didn’t CIA intelligence tell him that ISIS was already in Syria operating and could infiltrate Iraq soon? Of course, this intel came out now. We must step back, clear our minds and ask was this ISIS war intentional and to serve a purpose for Iran. Was it to seed the militia inside Iraq. Is it now time, under Trump, to un-seed these militia out of Iraq? Yes, more corruption that has to be undone. So, this article today really helps us think about what is going on in Iraq.
So, this next article is really all-telling to us investors it is titled “IRAQI FOREIGN MINISTER: ENDING THE UNAMI MISSION IN IRAQ REFLECTS THE PROGRESS AND STABILITY ACHIEVED.”
WOW! WOW! WOW! Could this be the proverbial ‘icing on the cake’ that sounds the alarm to us investors that Iraq is moving to a more normalized phase. A phase better than even before the 1991 invasion? Well folks it has to happen sometime and so why not now. This again is yet more evidence we may in fact be in for a reinstatement soon.
In summary, here we sit it’s December 16, 2025 already and so the RV may still be on target for early January. Who moved my cheese? Nobody has moved the cheese yet. We can clearly see the movement of the GOI towards early January to get the government formed. Remember as long as they don’t open the budget they can still reinstate and even if they do, it’s just easier to manage it when they start the new fiscal year with a new rate. Think about it. They used this same tactic in 2020 when they declared the devaluation of the dinar on December 20, 2020, but it was not effective until January 1, 2021. I plan to talk more on Thursday about this situation once I review it with my CBI contact on Wednesday. Stay tuned.
Is somebody going to move our cheese again?
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Having read my RV Status for this period when do you think the RV will happen?
