All News Are Phenomenal💣IQD Will Be in Forex Soon!🤔Iraq Dinar RV Updates...

"RV UPDATE" BY MNT GOAT, 9 SEPT

 Mnt Goat 

 ...I have to tell you the currency rate of 1/6 of a penny (IQD 1320 = USD 1) absolutely does not reflect the currency rate of the dinar. It is being “artificially suppressed”!   But most importantly...many other financial wizards, much more knowledgeable than I, also feel this way.

 To make a very good comparison one only needs to compare Iraq to Kuwait to see the imbalance and inequity happening  (KWD 1 = USD 3.45).

 I believe there is nothing more for the CBI to do but to issue the lower denominations and them to watch for inflation over a period, as their plan states they will do, and if all goes well, they liberate their currency to the global markets as in FOREX.   I thought we needed the Oil and Gas Law passed first?  Yes, I still believe they do and we might have to wait for it.  

 But there is a chance that based on how fast the economy is growing they may just put that on the back burner and rethink it (remember that Dr Shababi in 2012-2013 did not have this law passed, yet he was moving forward). We must remember the past.

 I address this question to guru Kaperoni who still thinks Iraq has to grow their economy first to get the current TRUE VALUE of their currency reflected in their rate. 

 SO grow it to what standard? What is the benchmark when they would turn on their currency? Did they shut it off because of the war and so the war has been over for 20 years. Yes, that is Obama’s plan not Dr Shabibi and it is a bad plan and will not work.  Iraq needs its currency to grow the country and its economy.  

 Iraq records the highest oil revenues since the start of 2023 which is also 2/3 more oil pumped than in 1991. The dinar rate in 1991 was over USD $3.  So why is the currency still being under valued? Yes, it is important to get out of a “rentier economy” based solely on oil and this will also create yet more wealth. But what about right now...

I am talking about today!   Doesn’t the oil wealth mean anything? Doesn’t the 113 billion in reserves and 132 tons of gold mean anything? Not to mention all the minerals and agricultural products being exported. So why still at 1/6 of a penny?

Parliamentarian: The Kurdistan Government Is Facing The Largest Economic Crises In The History Of The Region, 9 SEPT

 Parliamentarian: The Kurdistan Government Is Facing The Largest Economic Crises In The History Of The Region

Politica l | 09/08/2023  Baghdad - Mawazine News  Member of the Oil, Gas and Natural Resources Committee, Ali Shaddad, revealed that the Kurdistan Regional Government is exposed to economic crises that are the largest of their kind in the history of the region.

Shaddad said in a statement, a copy of which was received by Mawazine News, that “the cessation of oil exports through the Turkish Ceyhan port has caused Kurdistan major financial crises as a result of accumulated debts that are difficult for it to pay at the present time.”

He pointed out that "the Kurdish authorities suffered huge losses and incurred large debts to international oil companies."

He explained that "Kurdistan began to throw accusations at the central government and did not reveal to the Kurdish people the truth about the money that the Baghdad government sent to Kurdistan to pay the salaries of employees and establish urban and service projects."

https://www.mawazin.net/Details.aspx?jimare=234634

Iraq Dinar - International Exchange Rate - Baghdad & Erbil - "Secrets" -...by MILITIAMAN

"RV UPDATE" BY BRUCE & MILITIAMAN, 9 SEPT

 Bruce

 For Iraq to go international they're  going to have to be article VIII compliant with the IMF and their currency exchange rate...They haven't come this far to go ahead and do the status quo...All the news...is phenomenal...

  Militia Man  

Why haven't they [Paid the salaries]?  There's got to be a reason for it and we believe it comes down to that the 23, 24, 25 budget is going to have an internationally acceptable exchange rate that's going to be on the Forex so that we all as investors can freely trade the Iraqi dinar in an international environment.   That's the whole purpose of us being here...

We have Standard & Poor giving them [Iraq] a stable outlook to an increasing positive outlook becausethey're now exporting agricultural wares and they have non-oil revenue streams coming in at the borders.  That's why they're beginning to look good - because of the investment environment is ripe...

Bruce   [via WiserNow]  Iraq did not put their new rates on the dinar in their gazette  - their official document called the Gazette...which is a major publication day Wednesdays and Saturdays. But according to our contacts in Iraq, they should be putting in Saturday's gazette So we'll see what happens.

British Report: Türkiye Is Suing Iraq To Pay Compensation Of About One Billion Dollars Because Of The Region’s Oil, 9 SEPT

 British Report: Türkiye Is Suing Iraq To Pay Compensation Of About One Billion Dollars Because Of The Region’s Oil

Posted On 09-09-2023 By Sotaliraq    A British report revealed, today, Friday (September 8, 2023), that the Turkish government filed a lawsuit against the Iraqi government before an American court, demanding that Baghdad pay it compensation amounting to $956 million, refusing to pay any compensation to Iraq.

According to a report by the London-based Middle East Eye website, about the problems between Turkey and Iraq regarding the export of Kurdistan region’s oil through the port of Ceyhan, the Turkish government filed a lawsuit before the District Court for the District of Columbia in Washington, DC, against the Iraqi government, demanding that no compensation be paid to Iraq. Rather, Baghdad should pay compensation amounting to $956 million to it.

Turkey says, according to the report, that with the interest rate set by the International Arbitration Tribunal in Paris calculated for the compensation that each of the two countries must pay to the other, the amount that Iraq must pay to it becomes greater than what it must pay to Iraq.

According to the site, Turkey believes that Iraq will receive compensation amounting to $2.6 billion after calculating interest, while Turkey will receive $3.5 billion.

Five months passed on (August 25, 2023), since the export of oil from the Kurdistan and Kirkuk region through the Turkish port of Ceyhan was halted, which came after the decision of the international arbitration panel in Paris, which caused huge losses, amounting according to estimates to 5 billion dollars.

The export of oil from the Kurdistan region through the Turkish port of Ceyhan to abroad was stopped on March 25, in response to a decision issued by the international arbitration panel in Paris based on a lawsuit filed by the Iraqi authorities against Turkey.   LINK

An expected visit by the Sudanese to Kirkuk tomorrow and an extensive security and military deployment to secure it, 9 SEPT

 An expected visit by the Sudanese to Kirkuk tomorrow and an extensive security and military deployment to secure it

2023-09-08 04:18

An expected visit by the Sudanese to Kirkuk tomorrow and an extensive security and military deployment to secure itShafaq News/ A senior security source in Kirkuk revealed, on Friday, that the Prime Minister and Commander-in-Chief of the Armed Forces, Muhammad Shia’ al-Sudani, is scheduled to visit the governorate tomorrow, Saturday, to discuss the repercussions of the recent events in Kirkuk, while the security forces, reinforced with military vehicles, were deployed in the streets of the city.

The source told Shafaq News agency that Al-Sudani will visit Kirkuk tomorrow to discuss the recent events and their security and political repercussions in the governorate, and to prepare plans to maintain peaceful and societal coexistence and prepare the atmosphere in preparation for the holding of local elections.

He continued by saying that Al-Sudani will meet with the leaders of the governorate and political forces from all components to bring together views on the recent crisis, and prevent its recurrence in the city, as well as reviewing plans to secure the city and maintain community stability.

The source also confirmed that there is an extensive deployment of security formations, accompanied by military vehicles, in the neighborhoods and regions of Kirkuk, in anticipation of any emergency.

The Army Chief of Staff, Lieutenant General Abdul Amir Yarallah, accompanied by the Commander of the Ground Forces, Lieutenant General Qassem Al-Muhammadi, arrived yesterday, Thursday, in Kirkuk Governorate to supervise the security situation there.

A few days ago, dozens of demonstrators supporting “Arab and Turkmen” political parties in Kirkuk governorate blocked the main road linking the governorate with the city of Erbil, in protest against the Kurdistan Democratic Party’s intention to return to opening its headquarters in Kirkuk in accordance with the political agreement concluded with the State Administration Coalition, which includes forces. And the political parties that formed the current federal government headed by Muhammad Shia al-Sudani.

On Saturday evening, Kirkuk witnessed dozens of Kurdish demonstrators descending on the areas inhabited by the majority of the people of the component, demanding the reopening of the road and an end to the sit-ins in front of that headquarters, but they were met with gunfire, which resulted in casualties and injuries.

The Iraqi security authorities imposed a curfew in Kirkuk governorate, due to the tensions that accompanied the protests in the Kurdish areas.

It is noteworthy that the Kurdistan Democratic Party, headed by the Kurdish leader Masoud Barzani, left its headquarters and party institutions in Kirkuk Governorate, following the military operation launched by the federal government on the disputed areas between Erbil and Baghdad after the independence referendum conducted by the Kurdistan Region in September of 2017, which resulted in To the withdrawal of Peshmerga and Asayish forces from those areas.

shafaq.com