"RV UPDATE" BY ANGEL1 & MILITIAMAN, 27 SEPT

 Angel1 

 They're doing away with the auctions January 1, 2024.  But as of this Thursday...the implementation of how you do the auctions are completely changing...it's dinars from here on out only...

 There are only two things left to do on this laundry list of things for us to get to the bank.  What are they? 

 Change the exchange rate and release the lower denominations...at that point, shortly thereafter if not simultaneously. 

 I have the opinion it'll be on Forex internationally.  They'll have an internationally exchangeable currency.  That is when we go to the bank...I would not be surprised if something special happened very quickly.

Militia Man

Article:  "Alaq pointed out the new system of external transfer and the sale of dollars provides protection from risk to all parties to operations and  enjoys international acceptance."  There you go.  I think that's kind of almost a drop the mic situation...

Article:  "The invitation to the organization to attend the introductory symposium on Iraq's entry into the World Trade Organization which is being held on 4th of October" 

 The showcasing of them having had an international exchange rate has got to be coming because the WTO is not going to allow IMO ascension to the WTO without having a valuation of their country.

  Al-Sudani came home from the United States of America.  He showcased his presentation.  He did it very very well, professionally, turns out people felt he was a statesman all around the world. 

 When it comes down to it are you going to do a tripartite budget at 1310?  The answer is probably 100% IMO no...

A “major demonstration” followed by a comprehensive strike… exchange companies rise up against the Central Bank, 27 SEPT

A “major demonstration” followed by a comprehensive strike… exchange companies rise up against the Central Bank, 27 SEPT

 Iraqi exchange companies have announced their readiness to stage a “major demonstration” on Thursday, followed by a comprehensive strike across all governorates. The protest is against the decisions of the Central Bank and aims to demand the bank to address a package of demands that would stabilize the local market and support the private sector. The exchange companies hope that the protest will contribute to the overall stability of the economy.

The exchange companies have released a statement through “Jarida” announcing their intention to protest against the Central Bank’s confusing decisions, hostile and retaliatory practices, and illegal penalties. The protests will begin with a major demonstration on Thursday, October 5, followed by a comprehensive general strike across all governorates, which will stop the activities of all companies and officially exit the currency auction window. The exchange companies feel that these decisions have affected over 1,000 companies, causing the dollar exchange rate to rise and resulting in severe damage to the private sector. The exchange companies are one of the most important pillars of the private sector, with over 2,000 companies and 10,000 employees. They play a prominent role in the Iraqi economy and its sustainability.

The exchange companies announced that the Central Bank issued a set of demands aimed at stabilizing the local market and supporting the private sector. Some of the most notable demands include:

1- Financial institutions can continue their work by stopping arbitrary measures, revenge policies, and sanctions, and by allowing the Central Bank to exercise its evaluative supervisory role over its departments.
2- Before issuing penalties and deprivation letters, legal contexts must be re-introduced by clarifying with the company.
3- Clear and binding schedules should be issued, indicating every violation and its corresponding punishment, to put an end to arbitrary dealings and injustice against companies.
4- Companies’ previous cash shares will be returned to meet traveler needs and cover expenses.
5-Resolving late transactions promptly as soon as penalties are imposed.
6- It is crucial to remove corrupt elements from the Central Bank’s departments and to swiftly replace those who seek to harm the institution and the Iraqi state.

Iraq “Plans to build Gas Pipeline to Europe”, 27 SEPT

 Iraq “Plans to build Gas Pipeline to Europe”

Iraq aims to bolster its economic prospects by facilitating the transportation of both gas and goods to international markets

Iraq’s gas pipeline to Europe

The proposed rail and gas line projects have the potential to extend their reach to Turkmenistan, Kazakhstan, and European destinations. Kaabi stated that in addition to the rail project, there is a proposal to construct a pipeline for transporting Iraqi gas to the European market. Phase 1 designs for this have already been prepared by an Italian firm.

A recent report from the Iraqi Transport Ministry estimated the overall cost of the project, which encompasses the construction of a 1,200-kilometer rail and motorway network from Southern Iraq to the Northern border with Turkey, to be approximately $17 billion.

Iraq aims to bolster its economic prospects by facilitating the transportation of both gas and goods to international markets, potentially ushering in a new era of economic development and connectivity for the nation.

https://www.oilandgasmiddleeast.com/news/iraq-plans-to-build-gas-pipeline-to-europe

"RV UPDATE" BY MARKZ, 27 SEPT

 MarkZ 

Comment:  October 3rd, Iraq Republic Freedom Day…or independence Day…  MarkZ:  Looks like they are finally getting their freedom from us...This day in history…Iraq earns independence. This was in 1932 where they announced their independence from Great Britain. Why is this important? Look at the date. OCTOBER 3, 1932!  ...is that not poetic that they are expected to give the announcement of their independence from US sanctions and the control over their money on October 3, 2023… this is interesting timing. I very much expect a massive breakthrough…if not a value change of direction by Oct 3rd. Banking sources still expect it sooner.

  [via PDK]  Question:  Will the RV be announced to the public?  MarkZ Answer:  Yes but they not use the same terminology (like RV or Revaluation) that you and I use. They will most likely call it a “financial reset” or a “sound money act”  or something like that. This will let us know they have gone asset backed and have new bills …you will see it all over the news. If you are paying attention…you will know what it is.

Member Comment:   I would think it would get done soon…with the rumors of the Governor of the CBI being removed because rate change hasn't happened? Both Sudani and Alaq’s necks are on the line…imo.  MarkZ:  Yes they are…and on top of that is the ascension to the WTO on Oct 4th. Things are heating up. It’s do or die for Iraq to get this knocked out.

Question: What about the oil for dinar program…Is that still happening?   MarkZ Answer:  I am told that is still happening. That is how we should get more than the street rate.

WTO = New Rate?💣Is Oct 4th The Final Release?!🤔Iraq Dinar RV Updates | 9...

Economist: The Central Bank exacerbated the dollar problem with a “disastrous” decision, 27 SEPT

 Economist: The Central Bank exacerbated the dollar problem with a “disastrous” decision, 27 SSEPT

Economist - The Central Bank exacerbated the dollar problem with a disastrous decisionOn Tuesday, the economic expert, Omar Al-Halbousi, described the decision to reduce dollar sales by the Central Bank to exchange companies as “disastrous,” and has negative repercussions on the exchange rate, stressing that the Central Bank’s unfair decisions and procedures will exacerbate the dollar problem.

Al-Halbousi told “ Jarida ”, “The process of reducing dollar sales by the Central Bank to exchange companies is a disastrous decision par excellence, which is leasing the dollar and monopolizing it to the banks that have delved into smuggling the dollar externally, or selling it on the black market, which the Sudanese recognized today.”

He added, “Also, the reduction in exchange companies’ sales of the dollar has negative repercussions on the exchange rate, which led to an increase in the exchange rate due to the limited supply of dollars in the exchange companies that the Iraqi citizen deals with to a greater extent than the banks monopolized by the few who did not adhere to the instructions of the Central Bank.” Rather, they are still violating these instructions and defrauding the American sanctions, which will expose Iraq to new sanctions on the banks, and a high possibility of imposing guardianship on the central bank, which colluded with the banks and did not implement the procedures fairly.”

Al-Halbousi continued, “The Central Bank’s decisions and unfair procedures and its fight against some exchange companies that are not affiliated with party bodies will exacerbate the problem of the exchange rate, and this measure is deliberate with the aim of continuing to increase the gap between the real exchange rate and the black market exchange rate, which brings huge profits to the monopolists.” The banks that control the black market and speculate with the currency in exchange for maximizing their profits at the expense of harming Iraq and its people.”

The economic expert stressed, “This proves that the Central Bank has become a tool for speculators to manipulate its decisions and procedures in order to achieve their personal interests and the interests of certain countries at the expense of harming Iraq, its people, and the exchange companies that are committed to the instructions of the Central Bank.”

jaredaiq.net

Iraqi Cabinet discusses a set of local files, 27 SEPT

 Iraqi Cabinet discusses a set of local files, 27 SEPT

Shafaq News / The Iraqi Cabinet, on Tuesday, announced several decisions as part of the financial reform program and issued instructions for the gas and electricity sector.

According to the media office of Prime Minister Mohammed Shia Al-Sudani, in a statement, Al-Sudani chaired the 39th regular session of the Cabinet, during which the developments in the country were discussed. They also reviewed the implementation of various national issues, the progress of the government program's priorities, and discussed the agenda items, issuing resolutions and recommendations related to them.

At the beginning of the session, Al-Sudani talked about his participation at the head of the Iraqi delegation to the United Nations General Assembly meetings held in New York. He discussed the meetings held on the sidelines of this participation with a number of world leaders, heads of states, international and global organizations, and the agreements and joint statements resulting from these meetings that support Iraq's international cooperation and enhance economic partnerships with sisterly and friendly countries.

Al-Sudani instructed all ministries to follow up on the outcomes of this visit and activate bilateral agreements and mutual understandings. He also renewed the government's commitment to international resolutions and principles of good neighborliness.

Moreover, Al-Sudani expressed his government's keenness to overcome the dispute with the sisterly state of Kuwait and make efforts to find a solution to the navigation issue in Khawr Abd Allah, in a manner that does not contradict the Iraqi constitution and international law. He emphasized that such crises can be resolved through understanding and rational dialogue, away from emotional language and provocative statements that only lead to more crises and tensions.

In celebration of Iraq's National Day, Prime Minister Al-Sudani directed the official holiday on Tuesday, October 3, 2023, in all government ministries and institutions, on this occasion.

https://shafaq.com/en/Iraq-News/Iraqi-Cabinet-discusses-a-set-of-local-files