"IRAQ UPDATE: Iraq announced officially that they will end the dollar crisis before the end of 2023.", 2 DEC

 Iraq Update: Iraq announced officially that they will end the dollar crisis before the end of 2023.

What does this mean?

1. Raising the official exchange rate of the Dinar to the US Dollar to reduce pressure on foreign reserves?

2. Policy shifts to encourage use of Dinar over USD for domestic transactions and trade to take pressure off demand for dollars?

3. Removal of currency exchange restrictions and caps that have created imbalances and a black market?

4. Re-opening currency auctions that provide access to USD reserves to stabilize exchanges?

5. New measures to control inflation and currency speculation amid economic uncertainty?

6. Efforts to back more domestic bank balances and liabilities with reserves as reassurance?

Could be all of the above. Why? Because they also announced that they will settle the HCL next week. Which implies they have a new exchange rate ready for the international markets. Can we see a reinstated prior to or on January 1st?

Ofcourse given that implementing the HCL requires them to equally disburse settlements among the regions and they must know what the new value is as stipulated by constitutional law for the citizens in general.

Which is also apart of the US/Iraq deal that America must pull all their troops out prior. Which is probably why Iraq announced the closing of US Embassies.

We are on the verge on a once in a lifetime opportunity that will never happen again. So if you hold IQD consider yourself lucky.

https://www.facebook.com/profile.php?id=100064727316650

Iraqi Dinar🔥WOW News About Iraqi Dinar Effective Exchange Rates Released...

"RV UPDATE" BY MNT GOAT, 2 DEC

 Mnt Goat 

  “The Prime Minister’s philosophy confirms that economic reform cannot be achieved without reforming the banking system, and therefore the priority begins with reforming the financial system.” 

 ...more proof that Iraqi’s economy does not need to grow any more at this time in order to get to the value of the dinar to what we need for a fair and honest rate reflected...the “priority” begins with reforming the financial system and currency reform is a large part of the financial system.  ...Iraq will never be able to raise enough the money alone to rebuild Iraq and its economy unless they first complete the needed banking and financial reforms needed to attract investors...

“ADVISER TO THE PRIME MINISTER: ECONOMIC POLICY IN IRAQ IS MOVING TOWARDS IMPLEMENTING THE PRINCIPLE OF MONETARY SOVEREIGNTY” WOW! WOW! WOW!  

 It tells us flat right out in the open that Iraq is about to take complete control over their currency again. WOW! ...This has reinstatement and RV written all over this statement... 

Iraq and BRICS – The RV Writing is Now on the Wall, BY DINAR IRAQ AND DONG VIETNAM, 2 DEC

 Iraq and BRICS – The RV Writing is Now on the Wall

There is a popular phrase in the smart investments community: “There are no certainties, there are only probabilities”.

Applying this to the IQD, the probabilities of an RV just moved a lot higher.

Joining the BRICS alliance would offer Iraq economic stability, enhanced trade relations, and a stronger bargaining position in the global economic and foreign currency exchange landscape.

A recent series of strategic and geopolitical moves involving Iraq, particularly the centralization of oil governance, Russia’s influence in Kurdistan, and China’s economic inroads, suggest a realistic scenario where Iraq formally joins the BRICS alliance to establish its economic power and IQD currency strength.

The move towards a unified oil law (more on this in an upcoming article), orchestrated in collaboration with Russia’s interests, signifies a shift away from Western influence in Iraq’s oil sector.

As Iraq pivots toward a more strategic economic approach, it’s common ground with BRICS nations, who advocate for multipolarity and

resist Western dominance, continues to grow.

Here’s why:

Russia and China are strategically securing control over Iraq’s oil resources, particularly the Eridu oil field in Block 10, which is the largest discovery in Iraq in the last 20 years.

Lukoil, a Russian company, aims to take complete control of this oil-rich area by acquiring Inpex’s 40 percent stake in Block 10.

Russia’s influence in Iraq’s oil industry has expanded, notably with its effective takeover of Kurdistan’s oil and gas industry.

Furthermore, China’s extensive economic engagement, including the Belt and Road Initiative and preferential oil agreements, positions Iraq within a sphere of influence that aligns with the BRICS ethos.

Joining the BRICS alliance would offer Iraq economic stability, enhanced trade relations, and a stronger bargaining position in the global economic and foreign currency exchange landscape.

Additionally, considering the BRICS Alliance’s discussions around alternatives to the U.S. dollar as a global reserve currency, Iraq is likely considering a more diversified and resilient currency strategy within the BRICS framework.

Strategic Winners and Losers

Winners: Russia and China emerge as strategic winners, consolidating control over Iraq’s oil resources and expanding their economic influence.

They benefit from favorable agreements, infrastructure projects, and weakened Western influence.

Losers: Western nations and companies face a decline in influence as Russia and China strategically secure key positions in Iraq’s energy sector.

Other regional players not aligned with Russia and China may also lose out on economic opportunities and influence.

The Big Picture Clearly Shows the Writing on the Wall: Iraq Will Join BRICS

The broader strategy involves multiple exploration and development deals between Russian and Chinese firms, granting them a significant geopolitical presence in Iraq.

Both countries are leveraging agreements, such as the Iraq-China Framework Agreement, which provides China with first refusal on oil projects and a 30 percent discount on oil, gas, and petrochemical purchases.

China is also allowed to build factories and infrastructure across Iraq, including railway links as part of its Belt and Road Initiative.

These plans extend to the southeast region of Iraq, connecting to the major oil export hub of Basra.

Russia and China aim to establish control over oil and gas fields and transportation hubs in this region.

Major New Projects Favor BRICS – Not the USA/West

Infrastructure projects, such as the approval of funds for Al-Zubair and the construction of a civilian airport in Dhi Qar, demonstrate China’s increasing involvement in Iraq’s development within the framework of oil-for-reconstruction agreements.

Major New Projects Favor BRICS – Not the USA/West

Infrastructure projects, such as the approval of funds for Al-Zubair and the construction of a civilian airport in Dhi Qar, demonstrate China’s increasing involvement in Iraq’s development within the framework of oil-for-reconstruction agreements.

Overall, this signifies a broader shift in influence away from Western countries in Iraq’s energy sector.

Lukoil’s Acquisition of Inpex’s Stake in Block 10

Significance: Lukoil, a Russian company, aims to take control of Iraq’s Eridu oil field, the largest oil discovery in Iraq in the last 20 years. This move aligns with Russia’s strategy to dominate Iraq’s oil resources, reducing Western influence.

Winners: Russia and China, as they strengthen their control over Iraq’s oil sector.

Losers: Inpex, a major oil company from the U.S. ally Japan, loses its stake in the Block 10 region, marking a decline in Western influence.

Russian Control of Kurdistan’s Oil and Gas Industry

Significance: Russia effectively took over Kurdistan’s oil and gas industry through Rosneft, consolidating influence in a troublesome semi-autonomous region. This maneuver contributes to Russia’s broader plan for dominance in Iraq.

Winners: Russia, as it extends its influence over Kurdistan and weakens ties between the region and the central Iraq government.

Losers: Western interests, as Russian influence in Kurdistan grows.

Iraq-China Framework Agreement

Significance: The agreement gives China first refusal on Iraqi oil, gas, and petrochemical projects, along with a 30 percent discount on purchases. It also allows China to build factories and infrastructure in Iraq, aligning with its Belt and Road Initiative.

Winners: China, securing favorable terms and expanding its economic and infrastructural influence in Iraq.

Losers: Other countries seeking access to Iraq’s energy resources, facing competition and potential exclusion due to China’s preferential treatment.

Infrastructure Projects in Al-Zubair and Dhi Qar

Significance: China’s heavy involvement in infrastructure projects, funded by Iraq, strengthens economic ties and contributes to the oil-for-reconstruction agreement. The projects enhance China’s presence in key regions with significant oil fields.

Winners: China, gaining influence through infrastructure development in strategic areas.

Losers: Other nations and companies competing for similar projects in Iraq, as China secures key infrastructure deals.

Construction of a Civilian Airport in Dhi Qar

Significance: China secures a major contract to build a civilian airport in a region rich in oil fields. This project facilitates economic development and connectivity in an oil-rich area.

Winners: China, expanding its infrastructure projects in areas crucial for oil production.

Losers: Other nations seeking similar contracts and influence in the same region.

Al-Sadr City Development Deal

Significance: Chinese companies are involved in the development of Al-Sadr City, contributing to the oil-for-reconstruction agreement. This deal further cements China’s economic involvement in Iraq.

Winners: China, strengthening its economic ties and presence in key urban areas.

Losers: Competing Western nations and companies aiming for reconstruction and investment projects in Iraq.

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Reconstruction bonds are an important step whose interest should be increased, 2 DEC

 Reconstruction bonds are an important step whose interest should be increased

 
Money and business  Economy News _ Baghdad  The Ministry of Finance announced its intention to launch the second issuance of reconstruction bonds worth more than one trillion dinars, which can achieve a number of economic results, the most important of which is reducing high inflation rates and closing the budget deficit.
 
While specialists expressed their support for such steps, they stressed the necessity of raising the value of... The monetary interest specified for those bonds, with the aim of increasing the desire to acquire them, and thus absorbing the citizens’ accumulated cash mass.

The Ministry of Finance’s step comes after the launch of “Emaar” bonds during the previous month of September,
 
indicating that the new measure comes in implementation of the paragraphs of the government program related to enhancing the development and investment aspects represented by the reconstruction and construction movement that the country is witnessing,
 
in addition to developing financial and monetary policies and providing opportunities for citizens to contribute to the overall Economic activity through investment in bonds.
 
Despite the positives achieved by launching financial bonds, specialists believe that the only obstacle to such steps is the possibility that inflation will swallow up the annual interest on assets, and
 
therefore the interest rates allocated to these bonds should be increased.
 
The Ministry of Finance stated in a press statement,
 
“Given the strong demand for trading in national bonds (reconstruction bonds) and the full subscription of the first issuance amount, the Ministry, represented by the Public Debt Department, in cooperation with the Central Bank of Iraq, intends to make the second issuance of reconstruction bonds available at a value of 1.5 ( One trillion Iraqi dinars) and with the same mechanism previous to the first issue.  She added,
 
"This measure comes in implementation of the paragraphs of the government program related to strengthening the development and investment aspects represented by the reconstruction and construction movement that our dear country is witnessing, in addition to developing financial and monetary policies and providing opportunities for citizens to contribute to the overall economic activity through investment in bonds," noting that
 
"these bonds are issued Guaranteed by the Ministry of Finance, the
 
bond can be acquired by submitting an application to one of the official banks licensed and registered with the Central Bank.

The Ministry called on “investors and citizens to take advantage of the offer and take the initiative to benefit from this investment opportunity,” noting that “the size of this issue will be limited.”  She continued,
 
"The second issuance of bonds worth one and a half trillion dinars is tradable in the Iraq Stock Exchange,
 
and is available in two categories, the
 
first at a price of (500,000) five hundred thousand dinars, with an annual interest of 6% for two years, and the
 
second at a price of 1,000,000 million dinars, with an annual interest." 8% for four years.
 
The Ministry pointed out, according to the statement, that
 
“purchasing and trading of the bonds offered are exempt from taxes according to what is stated in the General Federal Budget Law No. 13 of 2023.”
 
In turn, the economic expert, Ali Jalil Obaid, believes that the interest on stocks for a period of 15 days is approximately 7.5%, which is higher than the interest allocated to bonds,
 
so it was logical to offer bonds with an interest rate of 10% as a minimum in order to avoid the impact of inflation.
 
Obaid pointed out that the first issue was subscribed to by private banks with high liquidity, and
 
most of these banks were satisfied and could not freeze much of the liquidity available for this purpose, indicating that
 
“bonds are traded like stocks in the Iraqi stock market, and
 
both are subject to the law of supply and demand.”
 
They are linked to the percentage of distribution of profits and annual interest,” explaining at the same time that
 
“bonds differ from stocks in that they achieve a fixed annual return.
 
As for stocks, their return depends on the company’s activity and efficiency, and
 
it is not required that they be distributed annually, nor is it required that the distribution rate be equal or similar.” every year".

The speaker stated that the
 
bond market in Iraq was not promoted and marketed, whether by the Central Bank or by the Iraq Stock Exchange, so you see that the
 
previous issues were acquired by the banking sector, indicating that the problem with this type of investment is that Inflation can eat up or swallow up annual interest.
 
In support of the previous opinion, the economic expert, Dr. Mahmoud Dagher, said during a press interview that
 
“encouraging work with these financial instruments requires that the interest rate be much higher than what was announced on the issue of financial bonds,
 
because if we subtract the inflation rate from the nominal interest rate, the result will be a low interest rate that does not It encourages and does not encourage engaging in bond purchases, and
 
therefore banks that have surplus funds in dinars will not resort to buying these bonds.”
 
While the President of the Iraqi Stock Exchange Investors Association, Dr. Alaa Al-Moussawi, confirmed that
 
“the issuance of reconstruction bonds comes in implementation of the Federal General Budget Law, which included the Ministry of Finance issuing government bonds to finance the Federal General Budget deficit, as this step will achieve a package of positive steps in addition to financing... Deficit, the most prominent of which is withdrawing part of the cash mass held by citizens outside the banking system and
 
using it to finance service and investment projects,providing job opportunities for citizens, increasing the domestic product and
strengthening the national economy, and contributing to reducing the rate of inflation by reducing the cash liquidity stored among citizens and contributing to preventing the prices of goods from rising. And services by reducing the demand for their purchase due to the decrease in cash liquidity among citizens, in addition to contributing to improving the exchange rate of the Iraqi dinar.”
 
https://economy-news.net/content.php?id=37993

Iraqi Dinar update for 12/01/23 - more Iraqi oil BY PIMPY

"RV UPDATE" BY BEARDED_PATRIOTUSA, 2 DEC

 Bearded_PatriotUSA

Telegram post 
12/1/23

Forwarded from Wolverine:

My friends stop sending me private messages if it’s true that it has started. 

Reno has started that is true. People with SKR I was told were paid.

Today might be a shotgun release which means the currency and bonds get release at the same time.

This is going to get very emotional when it happens and so I suggest to get those tissues and get that bottle of champagne.

This is all part of history and all of you are part of history.

The biggest transfer of wealth in the history of this planet is about to get started. 

Always remember where you were and what you were doing when it happens 

God bless you all 

Wolverine