"RV UPDATE" BY MNT GOAT, 28 MAY

 Mnt Goat

  Samir Al-Nusairi, the Central Bank announced that it will launch the national lending strategy on 5/25/2024, which is a clear announcement of the beginning of the second phase of its banking reform strategy...CBI announces it has completed the first phase of it by...building solid international banking relationships with international banks and correspondent banks. Get ready….

 The UN, IMF and World Bank all on one day, Thursday, noted significant progress that Iraq has made in recent years, despite ongoing challenges. The reinstatement spigot has been opened.  The direction is now clear.

So, in today’s news we read multiple articles coming out from the CBI and the Iraqi news telling us about yet more “WOW!” news...much of this news is confirming what my CBI contact told me recently so my trust level of my contact increases too. ...In today’s news the CBI is telling us they are moving into the “second phase of banking reforms” ...WOW! WOW! WOW!  ...Folks this RV train is moving along rapidly now. It is right in our faces now what they are doing. No more guessing or hoping. The reinstatement spigot is now wide open! ...The reinstatement is coming...Folks, it is now EXPLODING!  

https://dinarevaluation.blogspot.com/2024/05/rv-update-by-mnt-goat-23-may.html

So, in today’s news we read multiple articles coming out from the CBI and the Iraqi news telling us about yet more “WOW!” news...much of this news is confirming what my CBI contact told me recently so my trust level of my contact increases too. ...

In today’s news the CBI is telling us they are moving into the “second phase of banking reforms” ...WOW! WOW! WOW!  ...Folks this RV train is moving along rapidly now. It is right in our faces now what they are doing. No more guessing or hoping. The reinstatement spigot is now wide open!...The reinstatement is coming...Folks, it is now EXPLODING!  

 Folks just remember I am telling you that Iraq already has a value to the dinar way above the 1/6 of a penny. They do not have to develop the private sector to raise the dinar, the economy or...export more products... 

https://dinarevaluation.blogspot.com/2024/05/rv-update-by-mnt-goat-22-may_0247460925.htm

Iraqi Dinar Best Rate Today 🔥Iraqi Dinar latest rate update today

IMF praises CBI measures to control inflation, 28 MAY

IMF praises CBI measures to control inflation

Shafaq News/ The International Monetary Fund (IMF) mission praised the Iraqi government's measures, including the monetary policy led by the Central Bank of Iraq in 2024.

The report for the 2024 Article IV Consultation indicated that "the Central Bank of Iraq has taken several measures aimed at stabilizing the national currency and controlling monetary inflation."

"The Central Bank raised the interest rate on monetary policy tools from 4% to 7.5% and increased the banks' mandatory reserve requirements from 15% to 18%. These steps were decisive in reducing the inflationary pressures that Iraq suffered from, and this contributed to creating an environment and a more stable economy." The report mentioned.

Moreover, the report highlighted that "important reforms in the banking sector, such as the gradual increase in bank capital and mergers between small banks, aim to strengthen the banking sector and increase its efficiency and flexibility in the face of economic shocks."

"Iraq has implemented new compliance measures to improve the transparency of cross-border financial transactions by launching an electronic platform that imposes the disclosure of financial beneficiaries, which enhances the integrity of financial transfers in accordance with international banking standards, in addition to the role of the Central Bank of Iraq in expanding Correspondent banking relationships, to facilitate smoother international trade financing operations."

In its previous report on May 16, the team revealed that domestic stability has improved since the formation of the new government in October 2022, enabling the passage of Iraq's first three-year budget, which includes significant fiscal expansion starting in 2023. 

The non-oil economy experienced a strong rebound in 2023 after a slowdown in 2022, largely unaffected by the ongoing regional conflict. "Nonetheless, Iraq remains highly vulnerable to oil price fluctuations and private sector activity is hindered by the large state footprint—including as an employer of first resort—corruption, red tape, underdeveloped infrastructure, and poor access to credit."

"RV UPDATE" BY CLARE, 28 MAY

  Clare 

 Article:  "In light of the Middle East conflict, the World Bank expects oil prices to exceed $100"  Quote:  "The bank said in a report published today that a severe price disruption could lead to oil prices exceeding $100 per barrel, which would increase inflation in 2024 by about one percentage point."

Article: "Notice on the Continuation of the National Emergency With Respect to the Stabilization of Iraq"  

Quote:  "The obstacles to the orderly reconstruction of Iraq, the restoration and maintenance of peace and security in the country, and the development of political, administrative, and economic institutions in Iraq continue to pose an unusual and extraordinary threat to the national security and foreign policy of the United States...I am continuing for 1 year the national emergency with respect to the stabilization of Iraq declared in Executive Order 13303."

Article:  "The Central Bank begins the second phase of its banking reform strategy" 

 Quote: "what will be achieved from the second phase of the banking reform strategy will be reflected in the stability of the exchange rate and the recovery of the Iraqi dinar inevitably"

https://dinarevaluation.blogspot.com/2024/05/rv-update-by-clare-23-may.html

Iraqi Dinar✅Wait Is Over Revaluation 2024 / Iraqi Dinar News Today / IQD RV

Report of the International Monetary Fund in its consultations with Iraq on Article IV for 2024, 28 MAY

Report of the International Monetary Fund in its consultations with Iraq on Article IV for 2024

The report issued by the International Monetary Fund’s mission for the current year 2024 for the Article IV consultations praised the Iraqi government’s measures, including the monetary policy led by the Central Bank of Iraq, and the report indicated that the Central Bank of Iraq has taken several measures aimed at stabilizing the national currency and controlling monetary inflation.
He added that the central bank raised the interest rate on monetary policy instruments from 4% to 7.5% and increased the mandatory reserve requirements of banks from 15% to 18%, and these steps were crucial in reducing the inflationary pressures suffered by Iraq, and this contributed to the creation of a more stable economic environment.
The report stressed that important reforms in the banking sector such as the gradual increase in bank capital and mergers between small banks aim to strengthen the banking sector, increase its efficiency and flexibility in the face of economic shocks.
The report noted that Iraq has implemented new compliance measures to improve the transparency of cross-border financial transactions, through the launch of an electronic platform that enforces the disclosure of financial beneficiaries, which enhances the integrity of financial transfers in line with international banking standards, as well as the role of the Central Bank of Iraq in expanding correspondent banking relations, to facilitate international trade financing operations more smoothly.

♦ To view the full report. click here

Central Bank of Iraq
the media office
May 27, 2024

"RV UPDATE" BY MILITIAMAN, 28 MAY

 Militia Man

  In 2016 Gold was right around $1,500 bucks a once and today it's running $2,300 to $2,400 bucks an ounce.  They increased that gold supply by about 40 tons...Their currency reserves are around $110 billion.  They have a massive amount of wealth.  They have the ability to support their imports for about 16 months they say, which is about 5x what they need.  That's important.  They don't want to reduce those.  They'd like to keep them on hand...Iraq has a good foundation for Alaq to do what he's supposed to do and it'll only get better if he does.

If they change the value of their currency they're going to have more surpluses...The oil price is about $70 in the 2023 budget.  That hasn't changed for '24 or '25 because that's a tripartite budget.  They got a surplus.  Oil is somewhere around $80.  It's been as high as $91ish.  The expectations of oil is to be somewhere in the neighborhood of $80/$90 and they even talk about $100/barrel...Iraq is going to be sitting pretty good...They have phosphates...sulfur...natural gas...Those non-oil revenue streams...taxes and tariffs are going to come online...Iraq has a good foundation for Alaq to do what he's supposed to do.

 Iraq is moving forward.  They've got huge reserves...increased their gold, they're going to have the private sector, their stock exchange is going to be one to reckon with.  It's an emerging market and a lot of money is going to be start flowing...

If they go on the Forex system it's going to be international.  It's going to be fast and furious. 

 Could they do something within the county prior to that?  

Sure, why not, educate the citizens, do what they got to do...

 Question:  People want to know if they can drag this out until next year? 

 Militia Man: We don’t know the timing. But, I don’t think we are even close to go that long. There is way too much going on in the world and this is not only about Iraq. Remember all boats rise with the tide...I believe Iraq is ready to go with the rest of the world. Along with other countries like the Vietnamese dong. 

Are they going to change the value of their currency...? 

 I'm pretty sure they are going to need to to pay for all these [reconstruction] objects...rebar, the cement - all that stuff is expensive at 1310.  It's not so expensive if it's back at a 'previous era'....If they have the true value, their real effective exchange rate, it's going to be far cheaper...

https://dinarevaluation.blogspot.com/2024/05/rv-update-by-militiaman-25-may.htm