Iraqi Dinar Smaller Notes, Greater Value Iraq's Gradual Approach to Econ...

"RV UPDATE" BY MILITIAMAN, 24 NOV

 Militia Man 

 What's the exchange rate crisis?  It's been at 1310 since the early part of 2023.  They devalued to 1460 then they adjusted it by 10%.  What's not good about that?  What did it prove?  That adjustment the World Bank was talking about of 10.3% is actually a positive sign because what did it do?  It staved off inflation...There's some positive aspects to some of these things...Revaluations happen.  They need to be tested.

Article:  "Alaq says the rise in the exchange rate in his time and the project to delete the zeros still exists"   When was that?  July 26, 2023.  The plan is still underway, hasn't changed.  It's a dynamic and fluid circumstance.  We had the Bank of International Settlements come out and talk about highly complex financial transactions ...shocks, warning people...we can see there's some fireworks going on...in the background.  

We're hoping Iraq will show us they have Article VIII compliance any time now.   Let's see what happens...

 Article [via MeetMeOnline] quote: 

 "Easing of global commodity prices, the revaluation of the dinar, the continued price subsidies are projected to keep inflation in check..." 

 This is coming from the World Bank...price subsidies are projected to keep inflation in check because of why?  Because of the revaluation of the dinar...The World Bank are the ones talking about the revaluation of the dinar and the revaluation will help facilitate [many things] ...

  Article quote:  "Many countries in the region and the world have expressed a great desire to participate in this project [Iraq's Development Road Project] especially since it will be the most appropriate, shortest, least expensive way to transport goods between the continents of Asia and Europe"

  It's going to be a major hub of the globe and you're thinking that Iraq can't ever revalue their currency?  I think that is just flat-out silly.  To think that it's not going to ever happen...the news speaks for itself...

https://dinarevaluation.blogspot.com/2023/11/rv-update-by-militiaman-samson-22-nov.html

]https://dinarevaluation.blogspot.com/2023/11/rv-update-by-militiaman-20-nov.html

Al-Fateh: Iraq has many options to respond to the American aggression, 24 NOV

 Al-Fateh: Iraq has many options to respond to the American aggression

Al-Fateh - Iraq has many options to respond to the American aggressionInformation / Baghdad…

Representative from the Al-Fatah Alliance, Ahmed Rahim, confirmed on Thursday that Iraq has many options and cards that it can resort to in response to the unsurprising American actions towards the country.

Rahim told Al-Maalouma, “What the United States of America is doing is very expected and there is nothing surprising in its actions towards Iraq, at a time when the government holds many political and economic cards against Washington.”

He added, “Many countries are willing to cooperate economically with Iraq and have announced this explicitly. Therefore, cooperation in this field is not limited to the American administration, and there are many options that Iraq can resort to to dispense with its relations with America.”

He stated that “the eastern camp has great potential, especially on the economic level, and Iraq can conclude oil and financial agreements and exchange currencies with them, which confirms that Iraq has many options that do not make it tied to the American administration.”

almaalomah.me

Experts: Iraq Has Important Investment Laws, But They Are Ineffective, 24 NOV

Experts: Iraq Has Important Investment Laws, But They Are Ineffective
 
money and business   Specialists in economic affairs said that the investment law in the country is one of the best laws that can attract capital and international companies, in addition to being appropriate to the economic reality, indicating that those advantages provided by the law were not optimally exploited to bring about broad development or reconstruction moves, and were not exploited.
 
The provisions of the laws are widespread except in the oil field, indicating that legal legislation alone is not sufficient for the inward flow of investment capital.
 
In an image that confirms the government’s intention to activate investment laws, Muhammad al-Najjar, advisor to the Prime Minister for investment affairs and director of the Iraqi Fund for Development, during his hosting earlier by the Parliamentary Investment and Development Committee headed by Representative Hassanein al-Khafaji, stressed the necessity of reconsidering investment laws and some other laws to suit the objectives of Iraqi Fund for Development. 

The advisor, according to a press release issued by the Investment Committee, provided a detailed explanation of the vision for the Fund’s work, the problems and obstacles that obstruct the workflow, as well as the opportunities for success that the Fund seeks to achieve, indicating that the most important goals that the Fund focuses on in its work are establishing partnerships with investment funds and completing investment projects. Through the private sector in Iraq. 

Al-Najjar also confirmed that the most important projects that the Fund focuses on supporting are projects with social returns, such as  schools and housing projects, as well as profitable projects such as environmental projects, the technology sector, raising production in the agricultural sector, and others, while
 
the Chairman of the Parliamentary Committee, Hassanein Al-Khafaji, stated that we cannot proceed. In building a strong Iraqi economy without an active and effective private sector, to contribute to creating job opportunities and reducing dependence on oil. 
 
In this regard, the academic and economic researcher, Dr. Abdul Karim Al-Issawi, said in an interview with “Al-Sabah” followed by “Al-Iqtisad News” that “Iraq has begun a new era in its distinguished economic and political relations, and is striving towards openness to the outside and integration into the global economy after political isolation that extended for more than Two decades ago, the
 
first step towards that openness was the adoption of liberal laws on the investment level, and accordingly, Investment Law No. 13 of 2006 and its amendments were issued.  Al-Issawi believes that
 
“this law is one of the best investment laws in the regional and Arab neighborhood, but
it did not achieve the desired and expected goals of it, namely the flow of foreign funds  to invest in the commodity and service economic sectors in Iraq, and
 
foreign investments were limited to the oil extractive sector largely through oil licensing rounds and in a small percentage.” " Very much so than other sectors." 

Dr. Al-Issawi continued,  “This reality affected national capital, which preferred to invest abroad as a result of the failure to activate investment laws in their correct form, and the absence of an appropriate environment for work in Iraq at that time, which was determined by a group of economic, financial, political, and security determinants, as
 
legal legislation alone cannot It is sufficient for capital and investments to flow inward, but these legislations must be implemented in the correct manner in order to be compatible with the Iraqi economic reality.” 

Al-Issawi pointed out that the current government trends are in the interest of attracting investors and capital, as the Sudanese government is working to activate laws that are in the interest of investment, so this trend should be exploited to create strategic projects relying on the private sector and foreign companies, indicating that
 
these positive factors were not available in Previous years, as the difference in visions regarding the quality and nature of investments constitutes a major obstacle to companies wishing to enter Iraq, in addition to the conditions that the country experienced in the past, which have completely disappeared now.

 For his part, the specialist in economic affairs, Dr. Adnan Bahia, says that investment is one of the development arms of any country that is trying to move at an accelerated pace towards development and sustainable development.

 
It also contributes to the  transfer of technology and modernity, employs a large number of workers, local experts and graduates, and reduces the burden on the state financially and planning. In the areas of development and shaping the future.  

Bahia added that investment works to strengthen relations between countries and companies, especially in the field of long-term investments, but it needs a safe and stable environment, in addition to its need for an environment that protects it from routine and dealing with relevant institutions.  

- https://economy-news.net/content.php?id=37787

Coffee with MarkZ and Mr. Cottrell. 11/24/2023

BREAKING NEWS: What an AC 130 is Capable Of - IQD Exchange Rate BY SANDY INGRAM

"RV UPDATE" BY MNT GOAT, 24 NOV

 Mnt Goat 

  So, how long will us investors in the IQD have to wait before Iraq is allowed to liberate its own currency? 

Why do I say “now is the time”?  We know they are completely out of Chapter VII sanctions since December 2022, and so why not treat them as such? 

We know they want the Iraq funds (nearly USD 115+ billion) released from the NY banks and put in their custody to do what they want with it... We know they have plans for yet more Sovereign Funds to invest their reserves. We know they are making agreements now for “currency swaps” and will no longer be using any US dollars in Iraq as of January 1st 2024

We know since January they have undertaken a massive “de-dollarization” program and told it should have taken 6 years but they decided to do it in 1 year (2023). Why such a hurry? 

  We know the value of the IQD right now without any further economic development does exceed even pre-1991 era ($3.22) but still at 1/6 of a penny?   We know Iraq now pumps 2/3 more oil than in pre-1991 era.  We know Iraq also has announced 132+ tons of GOLD reserves. We know they are pushing this year alone, more than any other year since 2005, for the passing of Oil and Gas law. Why?

We know for a FACT that it is the U.S. through the Treasury Dept. direction that will NOT give sign-off to allow the reinstatement. Why?  Finally, we know, the CBI has told us that January is the most opportune time to reinstate for accounting purposes, since it begins their new FISCAL year. Just be patient, the reinstatement is coming and I firmly believe with what we now are 99% sure it is going to be a January 2024 event. WOW! Finally!!!