Thursday, July 3, 2025
Iraqis Await The US Federal Reserve's Interest Rate Decision
Iraqis Await The US Federal Reserve's Interest Rate Decision
2025/07/02 Reading: 90 times {Economic: Al Furat News} Iraq is closely monitoring the US Federal Reserve's upcoming interest rate decision amid expectations it will have a direct impact on the currency market and local investments.
In this context, economic expert Salah Nouri told Furat News, "The dollar's decline as a result of inflation or interest rate cuts by the Federal Reserve usually prompts investors and central banks to seek safe havens such as gold.
"
He added, "The Central Bank of Iraq is in a good position in terms of its investments in gold," noting that "the bank's balanced policy is to diversify investments between gold and the dollar."
Nouri explained that "this investment diversification aims to protect the Iraqi economy from global market fluctuations," adding that "Iraq is carefully awaiting the Federal Reserve's decision, given its repercussions for its financial stability." LINK
TIDBIT FROM BRUCE
Bruce
[via WiserNow]
They were supposed to have revalued the currency again, I believe they did, and it's at a decent rate on the screens, but it's currently on the back screen of the Forex...
Now, if all goes according...that back screen IQD rate on the dinar will go and show itself on the front screen of the Forex ...
we had approximately 17 currencies on the front screens of the redemption centers, and those were fluctuating in value as trading is continuing between various currency trading pairs...
we think there could be as many as 24 that are actually going to appear when we go in for our exchanges.
A phone call to refresh pockets: Al-Sudani calls Barzani, and an agreement is reached to release May salaries tomorrow
A phone call to refresh pockets: Al-Sudani calls Barzani, and an agreement is reached to release May salaries tomorrow
An informed source revealed, on Tuesday evening (July 1, 2025), that Prime Minister Mohammed Shia al-Sudani will hold a phone call with the Prime Minister of the Kurdistan Regional Government, Masrour Barzani, within the next few hours, with the aim of putting the final touches on a financial agreement concerning the region's employees.
According to the source who told Baghdad Today, "The anticipated contact will culminate in an official understanding stipulating the release of May salaries for the region's employees, with the payments to be made tomorrow, after the Sudanese Prime Minister signs the decision directly."
He expected that "the financing will be done in the form of advances and financial transfers," based on Article (77) of the budget tables for the years 2023-2025.
This agreement is expected to help calm the tensions between Baghdad and Erbil and restore some confidence to the region's employees, who have long been awaiting payment. link
TIDBIT FROM PIMPY: "The US now appears to have activated its threat to cut Iraq from its financial lifeline."
Pimpy
Article quote: "The US now appears to have activated its threat to cut Iraq from its financial lifeline."
And how are they going to do that?
Quote " The US Federal Reserve account where nearly all of Iraqi oil export revenues flow and which finances Iraq's entire budget..."
That $35 billion Pimpy told you guys so many times, this is the account I'm talking about. No, we're [the U.S. Government] are not invested in the currency.
No, we're not magically holding on to Iraqi dinar...This is why I keep warning you guys...
The financial inclusion rate in Iraq exceeded 46%.
The financial inclusion rate in Iraq exceeded 46%.
The Iraqi Private Banks Association noted the success of the basic requirements for implementing advanced standards in combating money laundering, based on the principle of knowing the customer and the sources of their funds.
In a press interview, Wadih Al-Handhal, head of the association, said, "The Central Bank of Iraq is moving forward in implementing compliance standards and enhancing financial inclusion in the banking sector. The Association of Banks also supports ongoing awareness-raising efforts on financial inclusion."
He added, "The Middle East and North Africa Financial Action Task Force (MENAFATF) has transformed Iraq from a grey zone to a monitoring zone, which is true evidence that Iraq has made significant progress in enhancing financial inclusion and combating money laundering and terrorist financing. "
He explained, "The need for legal legislation still exists, and we must move forward in the field of human cadres training to keep pace with the rapid digital and technological transformation in the world."
Regarding the financial inclusion rates achieved by Iraq, Al-Handhal pointed out that, “according to international standards, the current financial inclusion rate in Iraq has exceeded 46% compared to previous years, which is a very significant progress with which we seek to achieve a rate of 90-95% in cooperation with the Central Bank in the near future.
The Arab Monetary Fund is also very satisfied with this rate and is monitoring the growth of the banking sector. It considers that Iraq is implementing financial inclusion through a sound mechanism that has contributed to Iraq’s progress in ranking ahead of other countries.” link
TIDBIT FROM MILITIAMAN
Militia Man
Salaries and...the 2025 budget tables...They're hammering it out...They need to have this resolved before they integrate into the global financial system...
They're going to integrate into the global financial system.
I think they're going to need an exchange rate to do so which they haven't done at 1310 for three years. Obviously they're going to have a real effective exchange rate...
The Central Bank of Iraq announces a decrease in domestic debt
The Central Bank of Iraq announces a decrease in domestic debt
The Central Bank of Iraq announced today, Thursday, a slight decrease in domestic public debt by the end of April 2025.
The bank stated in an official statistic that "Iraq's domestic public debt fell at the end of April of this year to 85 trillion and 503 billion Iraqi dinars, down from 85 trillion and 536 billion dinars in March."
The bank added that "the decline was a result of repayments of loans to financial institutions, which reached $19 trillion and 119 billion, down from $19 trillion and 152 billion."
He pointed out that "the remaining debts are owed by the Ministry of Finance, amounting to 756 billion dinars, and treasury transfer debts at the Central Bank and commercial banks, amounting to 51 trillion and 30 billion dinars, in addition to treasury transfers on behalf of the Ministry of Finance amounting to 2 trillion and 30 billion dinars, and national term debts due to farmers amounting to 12 trillion and 568 billion dollars." link
WE'RE OFFICIALLY IN THE WINDOW FOR IRAQ TO DROP THE NEW RATE ON THE GOV WEBSITE!!!
We're officially in the Window for Iraq to drop the New Rate on there Government Website 
Emails should be Right Behind it.
We are in Exciting Time Guys So get Ready....
----The Iraq Stock Exchange is closed on Sunday, coinciding with the tenth of Muharram
The Iraq Stock Exchange is closed on Sunday, coinciding with the tenth of Muharram.
The Iraq Stock Exchange announced on Wednesday that it would suspend its activities for one day next Sunday, coinciding with the tenth day of Muharram.
The market stated in a statement received by Shafaq News Agency, "Based on the Cabinet's decision to declare an official holiday for one day on the occasion of the tenth of Muharram, market activities and trading sessions will be suspended for one day."
He added, "The holiday will start on Sunday, July 6, and trading sessions will resume on Monday."
It's worth noting that the Iraq Stock Exchange holds five trading sessions per week, from Sunday to Thursday, and lists 103 Iraqi joint-stock companies representing the banking, telecommunications, industry, agriculture, insurance, financial investment, tourism, hotels, and services sectors.
Sunday, July 6, 2025, is an official holiday for all ministries and government institutions, coinciding with the tenth day of Muharram, the anniversary of the killing of Imam Hussein ibn Ali, the grandson of the Prophet Muhammad and his daughter Fatima al-Zahra, according to the Iraqi official holiday calendar.
The Cabinet Affairs and Committees Department at the General Secretariat of the Cabinet clarified in a statement yesterday, Tuesday, that the holiday came based on the provisions of Article (1/First/C) of the Official Holidays Law (12 of 2024).
Shia Muslims commemorate the martyrdom of Imam Hussein, his family, and his companions in the Battle of Karbala at the hands of the army of the Umayyad Caliph Yazid ibn Muawiyah in the year 61 AH (680 AD). The commemoration continues until the Arbaeen pilgrimage, forty days after the Day of Ashura. link
MNT GOAT : '" AL-SUDANI: "MADE IN IRAQ" IS A NATIONAL PROJECT WE ARE COUNTING ON."
MNT GOAT
"AL-SUDANI: "MADE IN IRAQ" IS A NATIONAL PROJECT WE ARE COUNTING ON."
"THE NEXT PHASE: "Prime Minister Mohammed Shia al-Sudani inaugurated, on Wednesday, the Construction Cooperation Center (Construction Basket), which was implemented by the General Company for Construction Materials Trade at the
Ministry of Trade, in partnership with the private sector." "He explained that sovereign guarantees for the private sector focused on industrial sectors, with facilities for investors in constructing various factories.
He emphasized the continuation of work with the Federation of Industries and Contractors, and the empowerment of the private sector as a partner in meeting market needs and providing job opportunities. Al-Sudani concluded by pointing out the need to extend this experience to other governorates, starting with
Nineveh and Basra."
....... Choo-Chooo.........
AFTER THE TECHNICAL DELEGATION, A POLITICAL DELEGATION FROM BAGHDAD AWAITS ARRIVAL IN ERBIL TO RESOLVE OUTSTANDING ISSUES
AFTER THE TECHNICAL DELEGATION, A POLITICAL DELEGATION FROM BAGHDAD AWAITS ARRIVAL IN ERBIL TO RESOLVE OUTSTANDING ISSUES
government political delegation from Baghdad is scheduled to visit Erbil, following the arrival of a first technical delegation from the capital to the Kurdistan Region on Thursday.
A Jebel correspondent reported on Saturday that the “political delegation” could arrive in Erbil at any time. A well-informed source in Baghdad said the delegation would arrive to reach final agreements on the Kurdistan Region’s financial dues, the issue of employee salaries, and the resumption of oil exports from the Kurdistan Region.
Last Thursday evening, a technical delegation representing the federal government in Baghdad arrived in Erbil and met with a similar delegation from the region to discuss the salary issue and its resolution, as well as the resumption of oil exports from the region to the world. According to information obtained by Al-Jibal, the meetings yielded positive results, particularly regarding the satisfaction of the region’s oil-producing companies regarding the resumption of oil exports.
A senior government political delegation from Baghdad is scheduled to arrive in Erbil this week, with the authority to finalize agreements on salaries and the resumption of oil exports, a Jabal correspondent reported, citing an informed source.
The source did not disclose the size of the delegation, but indicated that it is “a large delegation, and will be headed by the Iraqi government. It is scheduled to meet with Kurdistan Regional Government Prime Minister Masrour Barzani and Minister of Finance and Natural Resources Awat Sheikh Janab to make crucial decisions on the two issues.”
Kurdistan Regional Government Prime Minister Masrour Barzani stated at a press conference last Thursday afternoon that the issue of employee salaries in the region was moving toward a solution, and that an authorized delegation would arrive from Baghdad to Erbil within two days to reach an agreement on the matter.
The technical delegation in Erbil includes representatives from the Supreme Economic Council, the Undersecretary of the Iraqi Ministry of Oil, the Iraqi Board of Supreme Audit, and representatives from SOMO and North Oil.
STATUS OF THE RV, PART . 1 BY MNT GOAT
STATUS OF THE RV, PART . 1
As you may have realized there was no Thursday Newsletter. In anticipation of news from Iraq that I wanted to include did not get passed on to me.
I am still being told that Iran is the key to the currency reform in Iraq.
I believe that I have showed you more than enough evidence of the Iran dilemma as it is now a FACTUAL holdup in our quest. Today I am going to give you yet more evidence.
But for how long will this Iranian dilemma last? Let’s explore that today.
My contact in the CBI has been placed back on the committee for the Project to Delete the Zeros. So, this tells us something, but what? Are they deciding now what to do? Is it time?
In the past Newsletter I told you that the CBI has already gotten the green light to go with the Project to Delete the Zeros, but with caveats. Unfortunately, these issues of the caveats are mostly NOT under their control. ☹ To sum it up, in order to kick off the resetting of these currencies they will need Security and Stability in the middle east, especially with Iran.
Iraq is the key to the reset.
Will they have an Iranian regime change?
I am told the only issue stopping this from happening is the fact that there is no guarantee that there would not be worst a regime to replace the one that already exists.
I am also not sure why the U.S. did not finish the job of destroying the other known nuclear enrichment sites in Iran.
Clearly the job was only done half way and half-fast! Was it just a political move (stunt) on Trump’s part? Yes, a chess move perhaps?
So, there is still much work to be done in the issues with Iran…trust me on this one….
The fragile ceasefire between Israel and Iran gave rise to cautious hope for longer-term peace, but it is too early to see what exactly the near or farther future will bring.
The prophets tell us of a certain change in the middle east, one of abundance and prosperity and it will come SUDDENLY.
Are they talking only about the revaluation of currencies, the reset or the prelude to the revaluation, the changes that must occur, which of course must happen first. We can all see it coming we are not blind.
https://mntgoatnewsusa.com/latest-mnt-goat-newsletter/SWIFT: WASHINGTON’S WEAPON FOR BLACKMAILING COUNTRIES AND STRANGLING IRAQ
SWIFT: WASHINGTON’S WEAPON FOR BLACKMAILING COUNTRIES AND STRANGLING IRAQ
Economic expert, Faleh Al-Zubaidi, confirmed today, Saturday, that the United States of America is using the global financial transfer system “SWIFT” as a tool for economic pressure on countries that do not align with its interests.
He pointed out that Iraq has become one of the countries subjected to such pressures aimed at pushing Washington’s agendas in the region.
Al-Zubaidi told Al-Maalouma, “SWIFT is an international financial network used to transfer funds between banks around the world. It is effectively subject to direct American control, which makes it a political tool in Washington’s hands to punish governments that reject its policies.”
He added, “The United States has used this system to punish a number of countries, such as Russia, Iran, and China, by denying them access to international financial transactions,” noting that “Iraq today suffers from strict restrictions imposed by Washington through this system, in an attempt to pressure the Iraqi government to advance its interests.”
Al-Zubaidi explained that “US dominance over SWIFT represents a clear violation of international economic standards and contradicts the principle of neutrality in financial transactions,” warning that “the continuation of this situation gives Washington the upper hand in controlling Iraqi financial decisions, threatening the country’s economic security.”
It is noteworthy that MP Haider Al-Salami stressed that the real and radical solution to this crisis lies in establishing a national financial system completely independent of the global financial transfer system (SWIFT), including a bank and an electronic payment entity, operating under the supervision of the Iraqi state and with its full autonomy, similar to what countries such as Russia, Iran and China have taken to protect their financial systems from Western domination.
(Yes, its called the Quantum Financial System (QFS)……)
EXCERPTS FROM MNT GOAT: IRAN IS THE KEY FOR CURRENCY REFORMS IN IRAQ & IRAQ IS THE KEY TO THE RESET!!!
EXCERPTS FROM MNT GOAT
I am still being told that Iran is the key to the currency reform in Iraq.
I believe that I have showed you more than enough evidence of the Iran dilemma as it is now a FACTUAL holdup in our quest. Today I am going to give you yet more evidence.
But for how long will this Iranian dilemma last? Let’s explore that today.
My contact in the CBI has been placed back on the committee for the Project to Delete the Zeros.
So, this tells us something, but what? Are they deciding now what to do? Is it time?
In the past Newsletter I told you that the CBI has already gotten the green light to go with the Project to Delete the Zeros, but with caveats.
Unfortunately, these issues of the caveats are mostly NOT under their control. ☹ To sum it up, in order to kick off the resetting of these currencies they will need Security and Stability in the middle east, especially with Iran.
Iraq is the key to the reset.
US OFFICIALS TOLD WESTERN MEDIA THAT IRANIAN OFFICIALS SAID IN INTERCEPTED COMMUNICATIONS THAT THE US STRIKES ON IRAN’S NUCLEAR PROGRAM
US OFFICIALS TOLD WESTERN MEDIA THAT IRANIAN OFFICIALS SAID IN INTERCEPTED COMMUNICATIONS THAT THE US STRIKES ON IRAN’S NUCLEAR PROGRAM
US officials told Western media that Iranian officials said in intercepted communications that the US strikes on Iran’s nuclear program were “less devastating” than anticipated, which is inconsistent with previous open-source reporting and the nature of the strikes.
Four unspecified US officials familiar with US intelligence said that the intercepted communication included Iranian officials speculating as to why the US airstrikes were not as destructive and extensive as they anticipated.
The Western media report did not clarify what the Iranian officials ”anticipated,” which makes it challenging to understand the relative degree of damage Iran sustained due to the relative nature of the statement. It is also unclear when the US intelligence community collected this intelligence, but separate Israeli intelligence suggested that Iranian military officials have been giving false situation reports and downplaying the extent of damage to Iran’s political leadership, however. Signals intelligence collected within a day or two of the strike would presumably be less reliable than intelligence collected a week or more after the strike. It is unlikely that any Iranian officials could have executed a complete battle damage assessment within 48 hours because doing so would require seeing the inside of the facility, and all the known access points had collapsed. The Institute for Science and International Security also previously assessed that twelve 30,000lb bombs penetrated Fordow and generated a blast wave that would have destroyed the centrifuges enriching uranium at Fordow. Even small vibrations can destroy centrifuges.
Key Takeaways:
- A top Iranian official cast doubt on the likelihood of US-Iran talks soon. The official, who was previously involved in negotiations, said Iran “insist[s]” on enriching uranium.
- US officials told Western media that Iranian officials said in intercepted communications that the US strikes on Iran’s nuclear program were “less devastating” than anticipated, which is inconsistent with previous open-source reporting and the nature of the strikes. It is also unclear what the Iranian officials ”anticipated,” which makes it challenging to understand the relative degree of damage Iran sustained due to the relative nature of the statement.
A prominent Iranian cleric issued a religious ruling that states individuals who threaten Iranian leadership and religious authority are punishable by death. This cleric previously met with a reformist former Iranian president, who attempted to sideline the supreme leader at least temporarily, and the ruling may be intended to demonstrate loyalty to the supreme leader.
STATUS OF THE RV , PART. 2 BY MNT GOAT
STATUS OF THE RV , PART. 2
😊You might want to read the article in the recent news titled “US OFFICIALS TOLD WESTERN MEDIA THAT IRANIAN OFFICIALS SAID IN INTERCEPTED COMMUNICATIONS THAT THE US STRIKES ON IRAN’S NUCLEAR PROGRAM”. Folks I don’t make this stuff up.
I only report on the FACTS. 😊 You can also clearly see how war in the middle east creates INSTABILITY and so take a peak at article titled “THE DOLLAR IS DECLINING.” POSITIVE INDICATORS FROM THE SULAYMANIYAH STOCK EXCHANGE AFTER THE WAR ENDED.” This article makes my point about Iran and how changing the regime and “totally” destroying the nuclear enrichment sites could change the entire dynamics of the region and in a VERY GOOD way…
☹Then take a look at the article titled “THE WAR HIGHLIGHTED THE WEAKNESS OF THE IRAQI ECONOMY AND REVEALED ITS DEPENDENCE ON IRAN. ” So, you are still not convinced we are waiting for this Iranian mess to be settled to get the RV? Can you read? Did you graduate from elementary school? How much more will it take to wake you up to the situation at hand and the connection to our investment?
Clarify Bad Intel:
More intel guru talk about the RV already occurring and they are just waiting for it to come out. How foolish is all this bullshit! We heard this over and over again from the same idiots. You think they would realize by now just how foolish their bullshit is? There is no RV and certainly no one is trading the dinar, as of yet as any significant rates. These idiots are telling their listeners that the trading is at over $4 + yet why in hell would anyone buy the dinar at that rate when they can easily go to the ISX and invest in it for a sixth of a penny. I don’t know you tell me….. Yes, just stupid nonsense since they have nothing better to review with their listeners they simply make stuff up.
ACCELERATING THE COMPLETION OF FINANCING AND DISBURSEMENT PROCEDURES FOR INVESTMENT PROJECTS… AL-SUDANI DIRECTS
ACCELERATING THE COMPLETION OF FINANCING AND DISBURSEMENT PROCEDURES FOR INVESTMENT PROJECTS… AL-SUDANI DIRECTS
To the Ministries of Finance and Planning
Prime Minister Mohammed Shia al-Sudani directed the completion of financing and disbursement procedures for investment projects on Tuesday during a meeting to approve the ministries’ investment project dues schedules.
Prime Minister Mohammed Shia al-Sudani chaired a meeting on Tuesday to approve the schedules of dues for investment projects for ministries.
The meeting reviewed the basic details of the projects, where the final schedule for the launch of (2) trillion dinars was approved to cover the investment plan projects of the ministries in accordance with the relevant Cabinet decision, which was issued in the twenty-second session of this year, noting that (1.4) trillion dinars were launched for investment projects in the governorates, and the Prime Minister directed the Ministries of Finance and Planning to expedite the financing and disbursement procedures.
This step confirms the government’s commitment to completing its service projects, which will see accelerated implementation and completion, based on the government’s program to develop productive investment, service, and economic sectors to provide services to citizens.
STATUS OF THE RV . PART 3 BY MNT GOAT
STATUS OF THE RV . PART 3
What else is in the news…..
There are many interesting topics on the fight to get the budget tables over to parliament. The finance committee told the news media this could happen in July.Oh boy… haven’t we heard this before?…..
You might want to take peak at the following articles on this topic titled “MP SUES GOVERNMENT OVER DELAY IN SENDING BUDGET TABLES TO PARLIAMENT” and “THREE REASONS IDENTIFIED…THE PARLIAMENTARY FINANCE COMMITTEE RULES OUT SENDING BUDGET TABLES TO PARLIAMENT”.
So, in attempting to understand this budget dilemma, they have now told us officially what the reasons are for the delay. Hussein Mounes, a member of the Iraqi Parliament’s Finance Committee, told us that there are several reasons for the government’s exclusion from sending the federal budget schedules to parliament :
1.most notably the financial deficit,
2.unstable financial revenues,
3.the lack of a real economic vision, and
4.the approaching date of the legislative elections,
It is easy understand the first two reasons however the last two are all political. Why is the budget so important? Really now its not so important for our purposes of the RV. If anything having the budget come out on time will add to the needed stability of Iraq in the eyes of the IMF and the World Bank.
INTEGRITY: IRAQ JOINS BEIJING’S CLEAN SILK ROAD INITIATIVE
INTEGRITY: IRAQ JOINS BEIJING’S CLEAN SILK ROAD INITIATIVE
The Federal Integrity Commission announced, on Tuesday (June 24, 2025), Iraq’s accession to the “Beijing Clean Silk Road Initiative,” indicating that this comes in implementation of Article (3/6) of the Memorandum of Understanding concluded between the Commission and the National Oversight Commission of the People’s Republic of China.
In a statement received by Mawazine News, the Commission stated that “the cooperation and coordination between the Commission and the Embassy of the People’s Republic of China in Baghdad culminated in joining the initiative after completing the procedures,” explaining that this will contribute to strengthening international relations and highlighting the Commission’s efforts,
endeavors, activities, and achievements in the field of combating corruption. It noted the confirmation of the National Oversight Commission of the People’s Republic of China of its readiness to enhance cooperation and joint work with the Commission in the field of combating corruption and law enforcement, to build a Clean Silk Road.
She noted the Commission’s welcome and announcement that Iraq has become the eighteenth country to join the initiative, which aims to enhance transparency, financial and intellectual cooperation, develop governance and laws, and promote oversight and legal awareness. It also aims to establish a closer network for cooperation in the field of justice and law enforcement, exchange expertise and information, develop human resources, pursue fugitives, and reject safe havens for fugitives and illicit assets.
The Commission added that the initiative calls for the signing of bilateral treaties on extradition and mutual legal assistance, based on international agreements, and the exchange of information and expertise between relevant anti-corruption agencies. It also calls for launching highly effective anti-corruption cooperation, promoting self-discipline, legal awareness, and a sense of responsibility, and enacting laws to combat corruption and combat bribery, with the aim of creating a sound relationship between governments and companies.
STATUS OF THE RV. PART 4 BY MNT GOAT
STATUS OF THE RV. PART 4
😊 Let us keep in mind the ongoing initiatives of Iraq. In the article titled “INTEGRITY: IRAQ JOINS BEIJING’S CLEAN SILK ROAD INITIATIVE”
We learn that the Federal Integrity Commission announced, on Tuesday (June 24, 2025), Iraq’s accession to the “Beijing Clean Silk Road Initiative,”. This is all good news as China will bring capital into Iraq to kick start these industrial cities they keep talking about. Yes, it all takes money.
Then we also learn in article titled “AL-SUDANI: “MADE IN IRAQ” IS A NATIONAL PROJECT WE ARE COUNTING ON.” That Prime Minister Mohammed Shia al-Sudani inaugurated, on last Wednesday, the Construction Cooperation Center (Construction Basket), which was implemented by the General Company for Construction Materials Trade at the Ministry of Trade, in partnership with the private sector.
They will need materials to build these industrial cities as well as housing and other establishments to support them. We have heard so much talk already about these cities and now we hear yet more emphasis from the government on them. Yes, they are counting on this initiative to move then ahead in the private sector and get off the “rentier” economy of 90% solely based oil revenues.
As investors we must stay focused. We can look at the Iranian / Israel conflict as holding things up, but for Iraq they keep trucking on and on.
Al-Sudani stays focused on the objectives. Why? He knows that the SECRET to success is these industrial cities. He must get his country off the “rentier” economy.
☹So, they are plowing ahead in spite of the issues with Iran. It is the U.S. that manipulates Iraq as they need certain behavior from Iraq during this time of conflict.
Did you read the article titled “SWIFT: WASHINGTON’S WEAPON FOR BLACKMAILING COUNTRIES AND STRANGLING IRAQ”
It says economic expert, Faleh Al-Zubaidi, confirmed last Saturday, that the United States of America is using the global financial transfer system “SWIFT” as a tool for economic pressure on countries that do not align with its interests.
WOW! Did you read this statement?
He pointed out that Iraq has become one of the countries subjected to such pressures aimed at pushing Washington’s agendas in the region.
Al-Zubaidi told Al-Maalouma, “SWIFT is an international financial network used to transfer funds between banks around the world.
It is effectively subject to direct American control, which makes it a political tool in Washington’s hands to punish governments that reject its policies.”
So, do you still dispute that it is the U.S. holding back the RV. Just saying…..
So, tell me again that it is not the U.S. holding back Iraq from FOREX… go ahead tell me….!!!!! Oh…the CBI has the power to RV anytime they want, so they say.
Really? Did you read today’s articles or just listening to you fancy-pants intel guru? ☹
ECONOMIST: TECHNOLOGY HAS TRIUMPHED… 12 DAYS THAT RESHAPED THE MIDDLE EAST
ECONOMIST: TECHNOLOGY HAS TRIUMPHED… 12 DAYS THAT RESHAPED THE MIDDLE EAST
Economic expert Munar Al-Abidi said on Tuesday that the sole victor in the twelve-day battle was technology. It tipped the scales of the conflict, granted superiority, and whoever possessed it possessed the initiative and the ability to persevere and endure.
Al-Abidi stated in a blog post that in just twelve days, the face of the Middle East has changed in ways not seen in half a century, and may never be the same again.
It was not just a few days of escalation or tension, but a watershed moment that redrawn the map of influence and the balance of power in the region, and forced everyone—countries and peoples alike—to reconsider their positions, their alliances, and the way in which nations should be rebuilt.
He added, “These days have proven that no one emerges victorious from battles that rely less on reason than on emotions. The only victor in the twelve-day battle was technology; it tipped the balance of the conflict, it granted superiority, and whoever possessed it possessed the initiative and the ability to persevere and endure.”
The message is clear: It is no longer enough to raise slogans or feed our people with wishes. What we need today, Al-Obaidi said, more than ever is to rebuild our nations on the foundations of science, knowledge, and culture, to leave the arenas of futile conflict and the circles of internal division, and to believe in hard work as the only path to salvation and progress.
He continued, “These few days have held for us a true mirror in which we see our image clearly: Who are we? Where do we stand? What is our position in the new Middle East, which is now being reshaped by ideas and visions completely different from those that have dominated the region over the past five decades? It is a call to awaken, to understand the transformations around us, and to begin, with seriousness and awareness, to establish strong homelands that will not be broken by the winds of change.”
AJ : IRAQ's PARALLEL MARKET, PART . 1: "Iraq’s Parallel Market & Currency Reform: Why Unifying Exchange Rates Is Crucial"
AJ
IRAQ's PARALLEL MARKET. I'm going to make this post into 2 parts... Here is Part 1 
I'll post Part 2 tomorrow.
The frist thing to know is the central bank of Iraq sets the exchange rate for the Iraqi Dinar,
On February 7, 2023, Iraqi Central Bank adjusted the exchange rate of the dollar against the dinar, as follows:
1300 dinars per dollar, the purchase price from Ministry of Finance.
1,310 dinars per dollar is the selling price for banks.
1,320 dinars per dollar is the selling price by banks and non-banking financial institutions to the final beneficiar
How this works
The Ministry of Finance gets a preferential rate 1300 IQD/USD to facilitate government transactions.
Banks buy dollars at 1310 IQD/USD and sell at 1320 IQD/USD, allowing a small profit margin to cover operational costs.Sell at 1320 IQD/USD to the public.
So the offical rate to the public is 1320 IQD/USD
1. The CBI, led by Governor al-Allaq and its Board of Directors, analyzes the economy and proposes a new exchange rate
2. Then Iraqi Council of Ministers vote on the CBIs decison of a new exchage rate. This is the government’s executive body, led by PM al-Sudani and composed of his cabinet ministers. It sets national policy, including fiscal and economic policies, and has authority over major decisions impacting the economy, such as currency revaluation.
3. After it is approved by the Iraqi Council of Ministers The CBI’s management, led by its governor, implements the new rates and ensures they are enforced across the financial system.
4. The CBI announces the new rate.
April 15th 2024 the WhiteHouse put out this joint statement.
This was when PM Al-Sudani visted the Whitehouse in 2024
The United States and Iraq commit to strengthen their cooperation to achieve greater transparency and collaboration against money-laundering, financing terrorism, fraud, corruption, and sanctionable activity that could undermine the integrity of both countries’ financial systems. The two sides also committed to support the Central Bank of Iraq to fully wind down the wire auction mechanism by the end of 2024 and transition to direct correspondent relationships between Iraqi and international banks, a transformation that will connect Iraqi people and businesses with the international economy.
The wire auction ended on December 29, 2024. Iraq banks transition to direct correspondent relationships between Iraqi and international banks for transfers abroad remittance, credits. However, the parallel market continued.
Ending the parallel market first is considered essential to unify exchange rates, stabilize the economy, and restore government control over monetary policy. This step is to prevent distortions in trade, money smuggling investment, and public spending, ensuring economic reforms.
From a past article... banking consultant Abdul Rahman Al-Shaikhli Explains
Regarding the implementation of the project to remove zeros from the Iraqi currency, banking consultant Abdul Rahman Al-Shaikhli "the first factor that stood in the way of the project was the discrepancy between the official exchange rate (now 1332 dinars per dollar) and the parallel market exchange rate (now rising above 1500 dinars), which constituted an obstacle to the implementation of the project to remove zeros from the Iraqi currency"
Below is "Quotes" from IMF Report Introducing a new currency is a complex process, one that Turkmenistan completed successfully
For example, Turkmenistan redenominated its currency to introduce lower denomination notes.
The first step in the Turkmen currency reform was to unify the exchange rate. In the past, because of a shortage of foreign exchange, there had been a dual exchange rate system made up of an official rate pegged at 5,200 manat per U.S. dollar and an informal parallel market rate of about 23,000 manat per U.S. dollar.
A major gap between the official exchange rate and the informal or market rate meant that Turkmenistan's price system had become complex and inefficient. This, in turn, created complexities in accounting and statistical reporting. So the government decided to introduce a new currency before launching market-oriented reforms. Currency reform was regarded as the foundation for further strengthening the macroeconomic framework, particularly monetary transmission: the more the population relies on the local currency rather than U.S. dollars, the more control the government and Central bank has over macroeconomic policy.
I know this is a long post... so, I'll post the next part, in Part 2 tomorrow.
Here is a link to the the full IMF Report. I've posted this before. If you want to know how a country redenominated its currency. Check it out imf.org/external/pubs/
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