For the past 3 months, you have heard me talk about Credit Valuation Adjustments.
The Banking System is still working on them through the different new tools and new policies you have heard me speak of in this room.
Each of these tweaks to the new Financial System will make it possible for us to eventually see new values placed on our currencies because of these tweaks.
We have more to go through before the end of the year, and these will create the paths we need to see in the world of currencies to make it possible for them to change values.
When you change the values you hold to be true, the paths you seek begin to seek you.
Money and business Economy News – Baghdad Economic expert Nabil Al-Marsoumi confirmed that there is an actual deficit in the 2024 budget, part of which was covered through domestic borrowing, deducting remittances, and issuing bonds.
According to the Central Bank data, the total domestic public debt in Iraq increased from 70 trillion dinars in January 2024 to 80 trillion dinars in October 2024, at a rate of one trillion dinars per month and a growth rate of 14%, which means that there is an actual deficit in the 2024 budget.
The government’s three-year budget in 2024 allowed for obtaining 5 trillion dinars through transfers deducted from the legal reserve of government banks and borrowing 3 trillion dinars from government banks, in addition to issuing national bonds worth 5 trillion dinars and deducting treasury transfers at the Central Bank of Iraq worth 20 trillion dinars. https://economy-news.net/content.php?id=48964
(receipts)
*Iraq 2024 Budget is Currently Suspended Unconstitutional, Now Going Through An Appeal Per Federal Court-Delaying It on Purpose(Scripted) Along With {“World Wars”In The Middle East & Financial Events…Stock Markets/Fake Fiat} [waiting on Israel/US to attack Iran Nuclear Plant].
*The Budget #4782 Is Still Not Printed On The Gazette(that’s great news). We Want It On The Gazette After The Dinar Rate Changes.
*WTO Final Steps Meeting in Nov Towards Full Ascension By End Of Yr.
*U.S Troops Will Begin Withdrawing From Iraq This September. (Trump Mentioned They Wont Leave Iraq Until They Get Paid In Full-Hmmm).
*BRICS Summit Scheduled This Oct.
Iraq Will Be Part/Joining of BRICS. (TRADABLE CURRENCY NEEDED).
*The Iraq General Population & Housing Census Scheduled To Be Conducted In October(After 27yrs). Head Count Needed For Financial Disbursement From The HCL-AFTER RATE CHANGES.
*U.S. Treasury Dept Took Over Iraq Central Bank(CBI) To Get This Monetary Reforms Done & Over
The U.S. Wants To Get Paid Now!!!
*Possibility Of Trading Oil With Iraq Dinars.
*Court Rules XRP Not Being A Security Which They’re Also ISO-20022 Compliant & Paired with the IQD.
*Iraq Will Remove The Three Zeros Due To Historic Low Inflation, Political & Economic Stability-(iraq is very stable)-New Dinar Lower Currency Notes incoming.
*Iraq Banking System is Basel lll Compliant. Iraq Dinar Currency Has Been ReClassified From C to A&B. Stated Directly From The CBI (in other words Iraq banking system is world class TOP NOTCH).
*CBI Governor Ali Mohsen Al-Alaq Had Meetings With The Federal Reserve/U.S. Treasury Department This Week To Resolve Final Issues Including Lifting Sanctions On Iraq Banks (i wonder why).
*Iraq Has Been Removed From The Grey List of Money Laundering.
*The Ministry Of Education/Council Of Minister Has Set September 22 as The Date For The Start Of The 2024-2025 Academic Year(aligning w/middle year fiscal budget).
*Baghdad International Airport Was Just Reopened To The Citizens On Aug 17th. After An Unspecified Duration Of Being Closed (why now).
*Iraq Has Accomplished These Following Steps For Its Reforms In Order To Reinstate The Dinar:
-Economic Stability
-Political & Security Environment
-Effective Implementation
-International Support
*The Central Bank of Iraq Will Cancel The Dollar Transfer Platform By The End Of This Year(no more $ auction-no more corruption stealing).
**Iraq Central Bank(CBI) Gave Their Outlets/Partners Instructions On How To Advance Train Their Employees On Foreign Currency Exchange Procedures.
**(History)-The Central Bank Of Iraq Introduced The New Iraq Dinar Currency In October 15, 2003 {the rate changed in september 03} & The Currency Exchange LASTED For ONLY (3) Months Until Jan 15 2004.
*Most Likely, You’ll Have 90 Days From The Day The Rate Changes To Exchange Your Iraq Dinar Currency(imo).
*The Late Dr Shabibi Governor of Iraq Central Bank From 2003-2012, Stated That Iraq Can Only Change The Currency Rate In The Beginning Or The Middle Of The Year. (that is Iraq financial MIDDLE of the Yr)
*Iraq Internal Financial Budget Runs From {April-March}-jeff**Therefore, Iraq Financial MIDDLE Of The Year Would Be OCTOBER.
*New Middle Yr Financial Budget Period is {October}. Therefore,
Iraq Budget Would Need To Be Constitutionally Active With A New Exchange Rate To Be Implemented BEFORE Oct.
*The Month of September Is a Highly Known Historical Possibility of Rate Changes.
*Al-Sudani Openly Stated To The Citizens Of Iraq, That They Will Receive Their Purchasing Power(“ratechange”) In 2024, Swearing On Allah Himself.
(PREDICTION)
{imo}
*It’s All Lining Up For Us Dinar Investors To Finally Be Financially Blessed This Year in 2024 Rate Change Anywhere Between {Mid September-Mid October 2024}
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"Serious Repercussions" .. Iraq's Internal Debts Rise At A Rate Of One Trillion Dinars Per Month
Published on: October 21, 2024: Exclusive/Al-Mada Iraq has recently witnessed a significant increase in its internal debts, recording an increase of one trillion dinars per month, which raises widespread concern among citizens and economic analysts.
This increase comes at a time when the country is suffering from multiple economic challenges, including weak economic growth and increasing unemployment rates.
As the financial crisis worsens, economists expect the growing public debt to have negative effects on citizens’ standard of living, including a decline in public services and higher prices.
Under these circumstances, there is an urgent need to develop effective strategies to manage debt and ensure financial stability in the country.
The economic expert, Nabil Al-Marsoumi, announced in a post on his personal accounts, followed by (Al-Mada), that "according to the data published on the website of the Central Bank of Iraq, the total domestic public debt in Iraq increased from 70 trillion dinars in January 2024 to 80 trillion dinars in October 2024. The rate of increase in the debt reached 1 trillion dinars per month, representing a growth rate of up to 14%."
He added, "This growth in the domestic debt reflects the existence of an actual deficit in the 2024 budget, as part of this deficit was covered through domestic borrowing, deducting remittances, and issuing bonds," noting that "the government's three-year budget law in 2024 has provided the possibility of obtaining 5 trillion dinars through remittances deducted from the legal reserve of government banks, in addition to borrowing 3 trillion dinars from these banks."
The government's measures also included issuing national bonds worth 5 trillion dinars and deducting treasury transfers at the Central Bank of Iraq worth 20 trillion dinars.
The economic expert continues, "This increase in domestic debt in light of the economic challenges facing Iraq requires effective strategies to manage public debt and achieve sustainable financial stability."
For his part, economic affairs expert Taha Al-Janabi said in an interview with Al-Mada that “the increase in Iraq’s internal debts by a rate of one trillion dinars per month could have major negative effects on citizens and the economy in general.”
He added, "With the rise in public debt, the government may have to impose new taxes or increase existing taxes to compensate for the deficit, which will reduce the disposable income of citizens."
He explained that "focusing on debt repayment could lead to reduced spending on basic services such as health, education and infrastructure, which negatively affects the quality of life."
Al-Janabi explained that, "to finance the debt, the government may have to print more money, which may lead to higher inflation rates and higher prices, and thus a loss of purchasing power for citizens."
He stressed that "if public debt continues to rise without a clear plan to manage it, this could lead to a loss of confidence in the government and economic systems, which could lead to social unrest."
He explained that "the increasing debt may lead to future generations being burdened with paying off these debts, which will affect their economic future."
The economic expert continued, "Addressing these issues requires effective economic strategies from the government, including improving the management of public funds, increasing spending efficiency, and developing various economic sectors."
A Bond Holdersaid the GCR would be released on Wed. 23 Oct., while another Bond Holder said they would be paid 50% on Tues. 22 Oct, but the GCR wouldn’t really be released for another ten days.
An Iraqi Contact said the Dinar would be revalued on Tues. 22 Oct., while another Iraqi Contact said it would be revalued on Wed. 23 Oct.
He said only the Dinar and Zim Bonds would revalue, while the other currencies would have to wait for another ten days to two weeks.
