DINAR REVALUATION UPDATE , 18 OCT

 DINAR REVALUATION UPDATE

Summary

Iraq’s upcoming industrial investment law aims to boost the economy and strengthen the dinar through reforms and increased IMF reserves.

Highlights

• 📈 Upcoming parliamentary vote on the industrial investment law is crucial for Iraq’s economy.
• 💼 The law aims to attract domestic and foreign investment to diversify away from oil dependence.
• 💵 Reforms are intended to support a higher exchange rate for the Iraqi dinar.
• 📊 Recent white papers outline measures for transparency and effective governance to stabilize the economy.
• 🌍 Iraq’s IMF quota increased by 50%, enhancing its financial position and stability.
• ⏳ Timely salary payments in the Kurdistan region reflect improved financial management and economic health.
• ⚖️ Completion of the hydrocarbon law is essential for equitable revenue distribution and regional stability.

Key Insights

• 📈 Significance of Industrial Investment Law: The upcoming vote on this law symbolizes a shift towards economic reform, aiming to stimulate growth and attract investment, crucial for Iraq’s recovery.
• 💼 Diversification Strategy: By encouraging investment in sectors beyond oil, Iraq can stabilize its economy and create jobs, reducing vulnerability to oil price fluctuations.
• 💵 Currency Strengthening Efforts: A stronger dinar will enhance purchasing power and reduce inflation, aligning with the government’s goal of economic stability through strategic reforms.
• 📊 Importance of Transparency: The white papers emphasize good governance as fundamental for investor confidence, indicating that Iraq is serious about implementing necessary reforms.
• 🌍 Increased IMF Quota: Boosting Iraq’s quota at the IMF not only signifies improved financial health but also facilitates access to essential funding for ongoing reforms.
• ⏳ Kurdistan Region’s Progress: Timely salary payments signal better financial management, which can stabilize the economy and improve public services in the region.
• ⚖️ Hydrocarbon Law’s Role: The successful implementation of the hydrocarbon law is pivotal for a fair distribution of oil revenues, fostering stability and collaboration between the federal government and the Kurdistan region.

INTEL FROM A FRIEND THAT WORKS WITH THE TREASURY CONTRACTOR BY GOLDEN ERA @DINARREVALUATION

Kurdish wealth” reveals the only obstacle to the resumption of the region’s oil exports, 19 OCT

Kurdish wealth” reveals the only obstacle to the resumption of the region’s oil exports

Shafaq News / The Ministry of Natural Resources in the Kurdistan Regional Government announced on Thursday that a delegation from the Iraqi Ministry of Oil is currently in Erbil to discuss a number of issues, pointing out that his ministry does not object to transfer all of the region’s oil revenues to the federal treasury, but there is a single obstacle still waiting for the solution to resume the export of the region’s oil.

The Minister of Natural Resources of Kurdistan, Kamal Mohammed Agency, said in press statements that he expects his ministry to reach an imminent appropriate agreement with Baghdad on the issue of resuming the export of oil, pointing out that the region does not see any problem in exporting oil through SOMO and transferring all its revenues to the federal treasury, but the problem lies in the cost of extracting oil and companies are not satisfied with the amount set for them, which is $6.

Mohammed pointed out that oil companies exerted pressure on the Iraqi government to resume oil exports, pointing out that a delegation from Baghdad is currently present in the region to discuss this issue.

Mohammed stresed that the regional government provided full facilities for the resumption of export and that the companies contracted with them have been accompanied three times to Baghdad, although these companies cannot produce oil at the price allocated to them, expecting to reach an appropriate solution with Baghdad for this issue.

The Minister of Kurdish Natural Resources, Mohammed, confirmed at an energy conference last week that since the Kurdistan Region has been producing 140,000 barrels of oil per day, which means that production has decreased by half, pointing out that due to the suspension of oil exports from the Kurdistan Region, the region has lost billions of dollars and that Iraq has lost more than 16 billion dollars as a result of this suspension.

It is noteworthy that the decision to reduce oil production rates in the Kurdistan Region came at the request of Baghdad within the framework of Iraq’s commitments towards the promises it made to OPEC+.

https://www.shafaq.com/ar/كوردســتانيات/الثروات-الكوردستانية-تكشف-عن-العا-ق-الوحيد-مام-است-ناف-تصدير-نفط-الاقليم

INTEL FROM A FRIEND THAT WORKS WITH THE TRASURY CONTRACTOR BY GOLDEN ERA, (ENGLISH & SPANISH), 18 OCT

 GOLDEN ERA

I have a friend who has been working with the Treasury (contractor). He told me that we are going to get just one serving of this apple, ONE. 

They are concerned about "double dipping." They don't want people to run to the bank, exchange, then go buy more currency and try again. 

My friend is managing the database with the currency holders. If you go to the bank to change before your appointment, the bank will take your contact information because they are required to inform the Treasury that you have changed - the Treasury will know. 

Your name and contact information will be marked as "already changed" and you will not be given a private appointment. 

That means if you also have bonuses, you won't be able to redeem them. Everyone can make their own decision, but it might be wise to wait FOR THE TIME TO COME. I hope this helps. H.H

--_-

EVERYTHING is calculated to the millimeter... Maybe it is necessary to clarify why there is no shortage of those who want to be clever 🤓

 SPANISH TRANSLATION

ERA DORADA

Tengo un amigo que ha estado trabajando con el Tesoro (contratista). Me dijo que vamos a obtener una sola porción de esta manzana, UNA. 

Les preocupa la "doble inmersión". No quieren que la gente corra al banco, intercambie, luego vaya a comprar más moneda y lo intente nuevamente. 

Mi amigo está manejando la base de datos con los tenedores de moneda. Si vas al banco para cambiar antes de tu cita, el banco tomará tu información de contacto porque están obligados a informar al Tesoro que has cambiado - el Tesoro lo sabrá. 

Tu nombre y tu información de contacto estarán marcados como "ya cambiado" y no se te dará una cita privada. 

Eso significa que si también tienes bonos, no podrás canjearlos. Cada uno puede tomar su propia decisión, pero podría ser conveniente que esperes A QUE LLEGUE EL MOMENTO. Espero que esto ayude. SS

--_--

TODO está milimétricamente calculado... Tal vez hay que aclarar porque no falta el que se quiera pasar de listo 🤓

LATEST CBI INTEL FROM MNT GOAT @DINARREVALUATION #iraqidinar

This evening.. Baghdad hosts the first rounds of indirect talks between Washington and Tehran, 18 OCT

 Baghdad Today – Baghdad

An informed political source reported on Thursday (October 17, 2024) that the first round of indirect talks between Tehran and Washington will be held in Baghdad this evening.

The source said in an interview with Baghdad Today that “the past hours witnessed an accelerated movement to conduct the first rounds of indirect talks between Tehran and Washington mediated by high-level Iraqi elites, in an attempt to find hotlines between the two sides through Baghdad, to ensure the transmission of messages and avoid more tension in the Middle East, especially with Israeli threats to target the Iranian depth.”

He pointed out that “the American side is ready to hold this round, but it is waiting for the green light from the Iranian side,” noting that “the two parties are aware of the sensitivity of the situation, and that holding these talks, even indirectly, may lead to mutual steps to ease tensions and try to prevent things from sliding into an all-out war.”

The source explained that “there is a conviction that a comprehensive war with Iran will make all American interests in the Middle East vulnerable to targeting, which prompts US allies, including the Gulf countries, to support avoiding any all-out war, given the chaos it may cause beyond the borders of a particular country.”

He stressed that “Baghdad plays an important role in trying to create limited understandings on some points to avoid any black scenarios that may affect the entire region,” pointing out that “the first rounds of talks between Tehran and Washington will be held in Baghdad this evening.”

An informed source revealed on Wednesday that the White House adopted a hotline with its embassy in Baghdad in preparation for indirect negotiations with Tehran.

https://baghdadtoday.news/260192-مساء-اليوم.-بغداد-تحتضن-أولى-جولات-المباحثات-غير-المباشرة-بين-واشنطن-وطهران.html

CBI WEBSITE ANNOUNCEMENT BY GOLDILOCKS, 18 OCT

 GOLDILOCKS

CBI Website Announcement:

Specialization courses are courses of study that focuses on a specific topic or skill, and they are often taken in addition to the requirements of the latest strategies and techniques. 

"Directorate of Supervision of Non-Banking Financial Institutions Nos. 3/3/33 and 15/3/33 dated 1/21 and 3/13/2024 obligating all licensed exchange companies under categories (A, B) and all licensed brokerage companies of category (C) to buy and sell foreign currencies to obtain a specialized certificate for their companies’ work."

Simply put, Iraqi exchange and brokerage companies are currently engaged in specialized training for foreign currency exchanges.

© Goldilocks

https://cbi.iq/news/view/2693