Question "Many years ago Dr. Shabibi said the dinar would be able to support it up to $16. Would that still be true for the RI?"
No, it's far past that but it would be illogical to come out at $16 or $28 or whatever. You need that margin for the float.
You don't need it to show off. That's what Kuwait did and they realized their mistake...The next day
they brought it back down very quickly.
It gave a window for sharks and whales...and they made massive amount of money. Obviously it was done on purpose. And obviously the IMF doesn't allow that to happen again.
[Iraq boots-on-the-ground report]
FIREFLY: There's a restaurant coming into Iraq. It's called Johnny Rockets. It's a burger join.
FRANK: I told you the whole world is pouring in...When you stop and think about it, those places that are coming into your country, they're either stupid or they know exactly what the monetary reform is about to do for them and you Iraqi citizens...
The goal is to get to 1 to 1 for what reason?
To add purchasing power.
There is the key, to add purchasing power to the currency of Iraq. I didn't say the Iraqi citizens are going to get rich. I said to add purchasing power to buy good and services with their currency...
Iraqi PM warns of escalation in Israel-Palestine conflict with global energy implications
Shafaq News / Iraqi Prime Minister Mohammed Shia Al Sudani issued a warning on Saturday regarding the potential for the ongoing conflict between Israel and Palestine to escalate to a point that threatens global energy markets. He also emphasized Iraq's firm rejection of any attempts to depopulate the Gaza Strip and called for the establishment of a fund to support and rebuild the region.
These remarks were delivered during the Cairo Peace Summit 2023, which was convened to address the evolving situation in the occupied Palestinian territories.
Prime Minister Al Sudani stated that the Palestinian people are experiencing a process of genocide, as civilians in residential areas, churches, and hospitals become targets. He pointed to the massacre at the Hospital in Gaza as revealing the true face of the Zionist occupation, surpassing all red lines.
He went on to assert that "what is happening constitutes a full-fledged war crime, beginning with the killing of the vulnerable and the imposition of a suffocating siege on the remaining neighborhoods." He affirmed that it is challenging to put into words the daily occurrence of horrific acts and massacres, including the burial of innocents under the rubble of their homes on the very land from which they were first displaced during the Nakba of 1948.
Prime Minister Al Sudani described Gaza as a new test for the global system, which has repeatedly failed to uphold the values of humanity, justice, and freedom. He stressed that Palestine stands as a living testament to this failure.
He further emphasized that "the time has come to put an end to this odious occupation and to alleviate the suffering of the Palestinian people." He affirmed that injustice cannot produce lasting peace, and the only way to achieve security and end violence is by addressing its root causes, beginning with the occupation and policies of racial discrimination.
The Iraqi Prime Minister pointed out that the Zionist entity continues to violate laws, including the laws of war. He highlighted that such violations will impact international security and potentially lead to regional conflicts, endangering global energy supplies, exacerbating global economic crises, and opening the door to deeper and wider conflicts.
He also noted that the Zionist entity persistently breaches the Third Geneva Convention on prisoners of war, the Fourth Geneva Convention that provides protection for civilians in occupied territories, the International Covenant on Civil and Political Rights, and more than 78 United Nations Security Council resolutions related to the Palestinian issue.
Prime Minister Al Sudani stressed that if international resolutions were respected and international bodies fulfilled their responsibilities, the Palestinian situation would not have reached its current tragic state.
Furthermore, he conveyed Iraq's strong rejection of any attempt to depopulate Gaza. He firmly stated, "There is no room to discuss resettlement or the creation of refugee camps. Palestinians have no place except their homeland."
He called for an immediate ceasefire, the opening of border crossings, the allowance of humanitarian aid and relief supplies, and the safe and comprehensive exchange of prisoners and detainees.
Moreover, he insisted on the urgent need to completely lift the blockade on Gaza to prevent a recurrence of the current tragedy. He called for the creation of a fund to support and rebuild the region, assuring that Iraq will not delay in providing any possible assistance.
Prime Minister Al Sudani concluded by emphasizing that the Palestinian issue should not be buried or bargained away. It is not within anyone's right to compromise, concede, or donate on behalf of the Palestinian people, as they are the rightful owners of the land and the cause.
He emphasized that international legitimacy, along with all free peoples, calls for a Palestinian state with its capital in Jerusalem, unmarred by settlements, and unburdened by checkpoints and policies of starvation.
He warned that continuing to disregard the legitimate rights of the Palestinian people will only yield more violence, extremism, and greater instability in the region and the world.
To Support The Dinar... Nearly 18,000 Pledges Were Signed By Shop Owners Not To Deal In Dollars
2023-10-22 | 969 views Al-Sumaria News – Local The number of written pledges that the Ministry of Interior took from shop owners not to deal in dollars during buying and selling reached 17,900 pledges from last May until this October.
This was reported by the Director of Operations at the Organized Crime Directorate, Brigadier General Hussein Al-Tamimi , noting that the campaigns launched under the direction of the ministry since last May to support the Iraqi dinar resulted in the arrest of a number of foreign currency speculators and smugglers, according to the official Al-Sabah newspaper.
He explained that the Ministry has taken written pledges obligating the owners of car showrooms, electrical materials stores, tourism and travel companies, wholesale and key cards, as well as the owners of residential complexes, not to deal (in dollars) during buying and selling, and to deal exclusively in the Iraqi dinar according to the price specified by the Central Bank,
otherwise The violator is subject to legal accountability in accordance with Article 306 of the Iraqi Penal Code No. 111 of 1969, which stipulates imprisonment and the imposition of a fine on anyone who refuses to deal in the Iraqi dinar. He added that the Central Bank and the Council of Ministers have authorized merchants importing basic and necessary materials from outside the country to enter the platform. Electronic and deal in dollars through it only. LINK
Shafaq News/ Iraqi Prime Minister, Mohammed Shia al-Sudani, held separate meetings with Spanish Prime Minister Pedro Sanchez and Russian Deputy Foreign Minister Mikhail Bogdanov on the sidelines of the Cairo Peace Summit earlier today, Saturday.
During a meeting with his Spanish counterpart, the Iraqi prime minister shed light on the current events in Gaza and the deteriorating humanitarian conditions due to the continuous Israeli aggression, which has resulted in civilian casualties and property damage.
Prime Minister al-Sudani reiterated Iraq's rejection of the gravity of the ongoing violence in Gaza, stressing that the actions of the Palestinian people are a natural response to years of siege, oppression, and aggression.
He added that the Palestinians do not trust the international institutions that have remained bystanders to violations of international laws and resolutions.
The two leaders laid emphasis on the dire need to establish a corridor to allow humanitarian aid to enter the besieged Gaza Strip.
Sanchez expressed his gratitude for Iraq's efforts to address the crisis, calling for continued dialogue between all parties to achieve peace.
He also expressed Spain's readiness to support the initiative proposed by Baghdad to establish a ceasefire and lift the blockade imposed on Gaza for nearly a decade.
In a separate meeting with Russian Deputy Foreign Minister Mikhail Bogdanov, Prime Minister al-Sudani called for collective efforts to halt the oppressive war waged by Israeli forces, resulting in the loss of thousands of lives and widespread destruction of homes and infrastructure. He said that Iraq's initiative would help stop the fighting and open corridors to transport urgent aid to the besieged people of Gaza.
Mikhail Bogdanov conveyed the greetings of Russian President Vladimir Putin and expressed Russia's views on ending the war and relieving the suffering of the local population.
[via PDK] There are some interesting articles from Iraq. “Teachers in Iraqi Kurdistan strike over delayed salaries”
This is all part of the HCL stuff and the money that is supposed to be flowing to the Kurdish region.
They have a urgent need to get this thing done so they can meet their obligations and take care of their people. This new government over there does care about their people and they are working hard to fix things…
There is still lots of chatter out of Iraq…there is a huge project that is underway right now as they look to fix their housing crisis. “Bismayah New City” This is part of the national housing program …massive new city about 10 miles north of Baghdad. Huge project and they have already broken ground.
Where is this money coming from ? How are they planning the potential 600,000 population city with houses, high rises, entertainment…you name it?
It’s clear Iraq is planning for prosperity. They are going to need a new exchange rate to justify this city…imo.
In Iraq: “Barzoni and the CBI Governor discuss economic cooperation”
It was great to see this article come out today. This is a feel good article on how much has been accomplished. I am also getting reports from a finance ministry contact in Iraq that things are exceptionally good right now between Barzoni and the government of Iraq. So this is fantastic.