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“Strengthening the Iraqi currency” .. Will the dollar be banned and prestige restored to the dinar?, 28 AUGUST

 “Strengthening the Iraqi currency” .. Will the dollar be banned and prestige restored to the dinar?

Saturday August 26, 2023

Strengthening the Iraqi currency .. Will the dollar be banned and prestige restored to the dinarBaghdad / Sky Press

The expert in economic affairs, Mustafa Akram Hantoush, stressed the difficulty of canceling dealing in dollars, especially since Iraq imports everything in hard currency.

Hantoush said in a press statement, “The existence of the government’s tendency to sell cars in Iraqi dinars instead of the US dollar is very difficult from a practical point of view, despite the government’s attempt to impose pledges on exhibition owners and carry out a massive arrest campaign.”

He added, “The decision from a practical point of view is difficult to implement, because the car trade passes through a global market that deals in hard currency, because we do not have the ability to manufacture cars inside Iraq, and we only have the Mahmoudiya factory.”

He pointed out that “large quantities of cars are imported from abroad and in the currency of the dollar, and therefore they are priced in hard currency, and even if they are priced in dinars, this will be done on the basis of the last price of the dollar, and therefore the citizen will not benefit anything from the process of selling cars in dinars.”

And that “the central bank is trying to strengthen the currency by reducing access to the dollar by traders only.”

The government is trying to control the continuing rise in the exchange rate of the dollar against the Iraqi dinar in the market, about seven months after its official decision to raise the value of the Iraqi dinar at a price of 1320 per dollar.

The government had taken a decision last February to raise the value of the Iraqi dinar against the dollar, after its price at the end of 2020 reached 1,470 dinars per dollar. It was implemented by the previous government to bridge the deficit in expenses and salaries due to the drop in oil prices in global markets.

The Ministry of the Interior prevented merchants and citizens from dealing in dollars in markets and shops, and restricted transactions to Iraqi dinars.

It seems that the security solution to the rise in the price of the dollar in the parallel market inside Iraq did not achieve any significant results, but rather complicated the economic scene and led in part to a rise in prices in the Iraqi markets.

Economic specialists point out that the market requires many measures to maintain the stability of the currency, most notably preventing smuggling.

skypressiq.net

Iran confirms the release of a “significant” part of its frozen assets in three countries, including Iraq, 28 AUGUST

 Iran confirms the release of a “significant” part of its frozen assets in three countries, including Iraq

2023-08-27 21:58

Iran confirms the release of a significant part of its frozen assets in three countries including IraqShafaq News/ The Vice President of the Republic, Head of Iran’s Planning and Budget Organization, Daoud Manzour, stated that a “remarkable” part of the Iranian frozen assets in South Korea, Turkey and Iraq had been released.

This came in a meeting he had with planning elites and economic experts, according to the semi-official Iranian Fars news agency on Sunday.

Manzoor said during this meeting that: A significant part of the Iranian assets frozen in South Korea, Iraq and Turkey have been released, and of course, these assets are from the reserves of the Central Bank and not belonging to the government.

On August 25, the Iranian Ministry of Foreign Affairs announced that within about a month, about 7 times the Iranian funds frozen in Iraq had been released.

The political assistant to the Iranian Foreign Minister, Ali Bagheri Kani, said in an interview with the Iranian semi-official “Mehr” agency, that: With the exception of South Korea, part of our money is also in Iraq.

He added, “In the understanding that we concluded with the American side about Iran’s money held in South Korea, the issue of Iran’s money in Iraq was also raised, and its release began.”

Bagheri Kani added, “Since the past three weeks, we have been able to release nearly 7 times the total money that we used in Iraq last year, in the process of economic activities, and of course we expect an acceleration of the liberation process.”

On August 11, official Iranian media revealed the details of the agreement reached by Tehran with the United States of America under the auspices of a third country, which provides for the exchange of prisoners between the two countries and the release of Iranian funds frozen in South Korea and Iraq.

The official Iranian News Agency, IRNA, quoted an official source familiar with this agreement as saying, “This agreement requires Iran to release 5 American prisoners in exchange for the release of 5 Iranian prisoners in the United States of America.”

He explained that “in addition to that, 6 billion dollars of Iranian funds frozen in South Korea will be released, along with a large part also of Iranian funds in the Iraqi TBI Bank,” noting that “the first stages of the process of releasing Iranian funds in European banks have begun.” “.

On July 11, Prime Minister Muhammad Shia’ al-Sudani announced Baghdad’s contact with the US regarding the payment of Iran’s dues for Iraq’s gas imports, amounting to 9 billion and 250 million euros, adding that Iraq had paid “up to one billion and 842 million euros in the seven-month period of The life of the government according to the agreed mechanism.

Al-Sudani added that a delegation from the Central Bank of Iraq and the Iraqi Trade Bank left Iraq for the Sultanate of Oman with the aim of “agreeing on a formula for transferring these funds to the Sultanate of Oman in agreement with the US Treasury.”

shafaq.com

Iraq News SUMMARY OF BRICS Expansion URGENT NEWS BY SANDY INGRAM

"RV UPDATE" BY FRANK26, 28 AUGUST

 Frank26 (KTFA)

Historically, this isn’t opinion, it’s a factual statement…we have seen bank movements…currency printed…exchange rates change…the IMF and the CBI working together and doing things in the month of April and in the month of September.  I don’t know of any other month where they have made any other type of financial moves with their budget…currency… banking structure.  All of it.  It’s always been April and September.

Question:
“Do you believe they are waiting for a holiday or religious event [before the rate change]?“

Absolutely not.  The monetary reform doesn’t wait for anybody.  Everybody’s waiting for the monetary reform.

Question "Do we expect any other currencies to re-value when Iraq finally releases the new exchange rate?"  The new exchange rate only belongs to the IQD.  As for as another currency, the dinar is the only currency the IMF has said is going to go up in value.  Why should I care about any other currency - yet.  Although there are good investments.  I don't want to mislead.  

Diversification and currency is a good investment but you better know what you're doing...

JUDY NOTES, 28 AUGUST

 Global Currency Reset:

• Sun. 27 Aug. TNT Tony: “Banks were notified this morning that it’s back on and crackin.”
• Fri. 1 Sept. Carden Group: “I know that banks are planning to be closed for 5 days (software upgrade) coordinated and beginning from Fri. 1 Sept.
• “Months ago everything was completed for the Global Currency Reset, it just hasn’t been announced. The BRICS nations, BRICS bank and QFS have been fully trading in gold-backed digital currency for 8-9 months.” …Charlie Ward
• Fri. 25 Aug. TNT Call: The three letter agencies are at the highest level of alert possible for the RV. The Iraqi government has until Sat. 26 Aug. to open the budget. Many people in powerful positions were arrested in Iraq this last week.
• Fri. 25 Aug. MarkZ said tonight that he has heard that a couple of humanitarian projects have received full funding and are slowly rolling out.
• Thurs. 24 Aug. Bruce: Bond Holders were told by authorities in Switzerland that they would be notified Friday 25 Aug. and get access to funds on  Saturday 26 Aug. Tier4b (Us, the Internet Group) should be notified to set exchange/redemption appointments Saturday 26 Aug. or Monday 28 Aug. at the very latest. Within 24 hours of Trump’s arraignment the RV should be started – or by Fri. 25 Aug. 7:00 pm EST
• Charlie Ward said that Tier4b would be able to exchange foreign currencies and redeem Zim Bonds after that Global Currency Reset was announced.
• Shelton Levert said that Paymasters would start paying Tier3 after the BRICS Summit ended on Thurs. 24 Aug.
• Wolverine claimed that on Fri. 18 Aug. Wells Fargo Bank received the cash release codes and the global launch of the funds took place across the Planet, marking the beginning of the registered global asset redemption program.
• The Global Currency Reset appeared to be announced on Tues. 22 Aug. 2023 whenthe BRICS Summit launched BRICS Pay, a decentralized multicurrency digital international payments system. https://www.brics-pay.com/.
• by JUDY

Is Iraq Able To Prevent Dealings In Dollars To Restore The "Prestige" Of The Dinar?, 27 AUGUST

 Is Iraq Able To Prevent Dealings In Dollars To Restore The "Prestige" Of The Dinar? - Urgent

Economy  |Today  Baghdad today – Baghdad   On Saturday (August 26, 2023), the expert in economic affairs, Mustafa Akram Hantoush, confirmed the difficulty of canceling dealing in dollars, especially since Iraq imports everything in hard currency .

Hantoush told "Baghdad Today" that "the government's tendency to sell cars in Iraqi dinars instead of US dollars is very difficult from a practical point of view, despite the government's attempt to impose pledges on exhibition owners and carry out a massive arrest campaign. "

He added, "The decision is practically difficult to implement, since the car trade passes through a global market that deals in hard currency, because we do not have the possibility of manufacturing cars inside Iraq, and we only have the Mahmoudiya factory ."

He pointed out that "large quantities of cars are imported from abroad and in the currency of the dollar, and therefore they are priced in hard currency, and even if they are priced in dinars, this will be done on the basis of the last price of the dollar, and therefore the citizen will not benefit anything from the process of selling cars in dinars. "

And that "the central bank is trying to strengthen the currency by reducing access to the dollar by traders only ."

The government is trying to control the continuing rise in the exchange rate of the dollar against the Iraqi dinar in the market, about seven months after its official decision to raise the value of the Iraqi dinar at a price of 1320 per dollar .

The government had taken a decision last February to raise the value of the Iraqi dinar against the dollar, after its price at the end of 2020 reached 1,470 dinars per dollar. It was implemented by the previous government to bridge the deficit in expenditures and salaries due to the drop in oil prices in global markets .

The Dollar Is Forbidden

The Ministry of the Interior prevented merchants and citizens from dealing in dollars in markets and shops, and restricted transactions to Iraqi dinars.

It seems that the security solution to the rise in the price of the dollar in the parallel market inside Iraq did not achieve any significant results, but rather complicated the economic scene and led in part to a rise in prices in the Iraqi markets.

Economic specialists point out that the market requires many measures to maintain the stability of the currency, most notably preventing smuggling.  LINK