FIREFLY: TV says we are moving towards monetary sovereignty.
FRANK: The reason they tell you this is because it’s moving towards a monetary sovereign national currency that will replace the 3-zero notes that are worthless and also replace the American dollar…They’re not hiding anything. It’s not a secret. Everything is out in the open…
You are now standing on the grounds of the RD and you’re soon to walk into the float. These are the steps. This is the journey you’ve taken whether your recognize it and understand it or not. The monetary reform is moving forward beautifully.
Article: “The President of the Republic: There is no dollar crisis in Iraq”
OF COURSE NOT… THERE’S A NEW NATIONAL CURRENCY & A NEW EXCHANGE RATE COMING… AND EVERYONE KNOWS IT.
We know elections are coming up and we know what happened last election. I’m not trying to jinx it but we’re definitely hoping that everything goes a lot smoother than it did last election.
‘Pay stations around the country where you can cash in your dinars‘ She’s full of crap. Pay-stations? I guess that’s the same as redemption centers, right? Let me put it this way, How does everybody else deal with other international currencies? Why would Iraq be special for some reason? It’s not like Iraq’s the only currency to be devalued and possibly revalued. All international currencies are done the same way.
There’s no 800 numbers. There’s no redemption centers. There’s no pay stations or however way you want to cleverly call these things. It’s all bull crap…IQD is bought and sold the same way as all the other currencies.
You can go to any currency exchange location and swap out your currencies or buy currencies there. Go to any international airport and they will have a currency exchange center there…No there’s no special stations planted all around the world specifically for the IQD…
The Central Bank of Iraq confirmed some Iraqi banks are transferring dollars from their accounts to intermediary banks who are distributing the dollars to their customers. The Central Bank of Iraq said this will contribute to reducing the exchange rate of the parallel dollar...[We're] thinking this is to keep the black market intact. This means the decision to only use Iraqi dinar in all transactions beginning January 1, 2024 may cause concerns and the Central Bank of Iraq is making moves to control any possible issues.
Article: "Inflation rate in Iraq declines in 2023 compared to 2022"
The Central Bank of Iraq announced the inflation rate decreased in 2023 compared to 2022. Inflation in Iraq reached approximately 3.7% in August 2023, compared to 4.4% in August 2022. Iraq's inflation rate is good compared to many countries where inflation has reached 30% and 40%...
Wealthy Iraqis move to the Caribbean. Guess who's on the list? ...The leader of the Kurdistan region and the former governor of the Central Bank of Iraq and other businessmen suspected of corruption...Iraq's politician are monitored by the organized Crime and Corruption Report Project (OCCRP)...This is part of the effort to catch
individual involved in corruption....
The project reported the purchase of Dominica (tiny Caribbean island) citizenship...enabling them to travel worldwide without a Visa...This country's visa is magical. Citizens can travel to 144 countries without a visa..
The country has no tax on foreign income, capital gains, inheritance, stock profits, wealth or gifts...The former Governor of the Central Bank of Iraq, Mustafa Ghaleb Makhif, obtained Dominica citizenship in 2017 along with his wife and two children and did not renounce it upon his appointment as governor of the CBI which was clear violation of article 18 paragraph 4 of the Iraqi Constitution. He held the position of governor of the Central Bank of Iraq from September 2020 until his removal by the current prime minister on January 23, 2023.. .
There are corruption questions...a legal complaint... has been filed due to the loss and depletion of millions of dollars regarding forged import documents.
The reason countries have foreign reserves is to make sure that a country has backup funds if its national currency rapidly devalues or becomes entirely worthless. It's common practice for central banks of different countries around the world to hold large amounts of reserves of foreign exchange. Most of these reserves are held in US dollars since it is the most traded currency in the world...The amount of monies a country holds in its reserves has a lot to do with the county's currency rate...Iraq has the largest foreign currency reserves in its' history.
The reason countries have foreign reserves is to make sure that a country has backup funds if its national currency rapidly devalues or becomes entirely worthless. It's common practice for central banks of different countries around the world to hold large amounts of reserves of foreign exchange. Most of these reserves are held in US dollars since it is the most traded currency in the world...
The amount of monies a country holds in its reserves has a lot to do with the county's currency rate...Iraq has the largest foreign currency reserves in its' history...
Article: "
Good News for Investors: US Treasury Continues to Omit Vietnam Currency Off Currency Manipulator's List"
Vietnam was not included on the US Treasury Department currency manipulators list this time. The list comes out twice a year and includes countries that may have surpassed the value of their currency. When a country does this it cheats investors on potential profits...Iraq is rebuilding after the war so is not yet subject to currency manipulation lists...
On Wednesday the Prime Minister of Iraq's advisor took the lead from the Central Bank of Iraq and announced Iraq has the largest foreign currency reserves in its' history and that the exchange rate treatment package aims to prevent profiteering at the expense of the economy...
Article: "Inflation rate in Iraq declines in 2023 compared to 2022"
The Central Bank of Iraq announced the inflation rate decreased in 2023 compared to 2022. Inflation in Iraq reached approximately 3.7% in August 2023, compared to 4.4% in August 2022. Iraq's inflation rate is good compared to many countries where inflation has reached 30% and 40%...
Wealthy Iraqis move to the Caribbean. Guess who's on the list? ...The leader of the Kurdistan region and the former governor of the Central Bank of Iraq and other businessmen suspected of corruption...Iraq's politician are monitored by the organized Crime and Corruption Report Project (OCCRP)...This is part of the effort to catch
individual involved in corruption....The project reported the purchase of Dominica (tiny Caribbean island) citizenship...enabling them to travel worldwide without a Visa...This country's visa is magical. Citizens can travel to 144 countries without a visa..
The country has no tax on foreign income, capital gains, inheritance, stock profits, wealth or gifts...The former Governor of the Central Bank of Iraq, Mustafa Ghaleb Makhif, obtained Dominica citizenship in 2017 along with his wife and two children and did not renounce it upon his appointment as governor of the CBI which was clear violation of article 18 paragraph 4 of the Iraqi Constitution. He held the position of governor of the Central Bank of Iraq from September 2020 until his removal by the current prime minister on January 23, 2023...
There are corruption questions...a legal complaint... has been filed due to the loss and depletion of millions of dollars regarding forged import documents.
The reason countries have foreign reserves is to make sure that a country has backup funds if its national currency rapidly devalues or becomes entirely worthless. It's common practice for central banks of different countries around the world to hold large amounts of reserves of foreign exchange. Most of these reserves are held in US dollars since it is the most traded currency in the world...The amount of monies a country holds in its reserves has a lot to do with the county's currency rate...Iraq has the largest foreign currency reserves in its' history.
The reason countries have foreign reserves is to make sure that a country has backup funds if its national currency rapidly devalues or becomes entirely worthless. It's common practice for central banks of different countries around the world to hold large amounts of reserves of foreign exchange. Most of these reserves are held in US dollars since it is the most traded currency in the world...
The amount of monies a country holds in its reserves has a lot to do with the county's currency rate...Iraq has the largest foreign currency reserves in its' history...
Article: "Good News for Investors: US Treasury Continues to Omit Vietnam Currency Off Currency Manipulator's List"
Vietnam was not included on the US Treasury Department currency manipulators list this time. The list comes out twice a year and includes countries that may have surpassed the value of their currency. When a country does this it cheats investors on potential profits...Iraq is rebuilding after the war so is not yet subject to currency manipulation lists...
On Wednesday the Prime Minister of Iraq's advisor took the lead from the Central Bank of Iraq and announced Iraq has the largest foreign currency reserves in its' history and that the exchange rate treatment package aims to prevent profiteering at the expense of the economy...
Iraq’s Unrelenting Fight Against Corruption and Global Developments
On the occasion of the National Integrity Week, First Deputy Speaker of Parliament, Mohsen Al-Mandlawi, highlighted Iraq’s notable strides in its crusade against corruption. Al-Mandlawi underscored the pivotal role of collaboration amongst relevant bodies in this battle.
Uncompromising Stance Against Corruption
Al-Mandlawi declared an unequivocal stance against corrupt practices, stating that it’s time to wage war against corruption and corrupt individuals. He notably mentioned that there are no red lines when it comes to fighting corruption, signaling an unflinching resolve against any form of corruption tolerance.
Parliament’s Legislative Push Against Corruption
Al-Mandlawi also shed light on the Parliament’s ongoing endeavors to enact laws that empower state institutions to more effectively combat corruption. This indicates a legislative thrust towards bolstering anti-corruption measures within the country.
U.S. Introduces Visa Restriction Policy for West Bank
In other news, the United States has responded to escalating violence in the West Bank by implementing a new visa restriction policy under Section 212 a 3 C of the Immigration and Nationality Act. The policy aims to impose visa restrictions on individuals involved in activities undermining peace, security, or stability in the West Bank. Further designations under this policy are expected in the coming days.
Rohingya Repatriation: A Fading Hope
The prospect of successful Rohingya refugee repatriation dwindles amidst worsening conditions in Myanmar and escalating violence in refugee camps. Armed group turf wars and declining aid have exacerbated dire conditions in Bangladesh’s refugee camps, housing nearly one million Rohingya refugees since 2017. The Bangladesh government’s policies have intensified refugees’ dependence on aid, escalating the cost of the humanitarian response and contradicting the reality of tens of thousands of refugees working informally in surrounding cities. There is an urgent need for donors to increase humanitarian assistance to Rohingya refugees and collaborate with the government to revise its policies, enabling more refugees to sustain themselves.
Iraq’s Integrity Commission Intensifies Anti-Corruption Efforts, Calls for Legislative Reform
In a vigorous pursuit to combat corruption and bolster the nation’s economic prospects, Haider Hanoun, the head of Iraq’s Integrity Commission, has declared the body’s ongoing efforts to reclaim embezzled funds over the past year. As a crucial institution in Iraq, the Integrity Commission’s mandate encompasses the investigation and eradication of corruption within government agencies.
Amendment to Reinforce Legal Framework
Hanoun has also called for the legislation of the second amendment to the Integrity Commission Law and the Unlawful Enrichment Law. This amendment is chiefly aimed at amplifying the legal framework, thereby enabling the Commission to combat corruption more effectively. The call for legislative reform is a testament to ongoing efforts to enhance the legal tools at the disposal of the Commission in its anti-corruption role.
Pushing for Transparency and Accountability
In a similar vein, the Parliamentary Integrity Committee, under the leadership of Hamid Al-Shablawi, is also seeking amendments to anti-corruption laws. The committee’s mission is to activate existing laws to fight corruption and establish clear mechanisms for the successful implementation of future anti-corruption laws. These endeavors are directed towards serving the public interest and promoting transparency and accountability.
International Efforts to Combat Corruption
On a global scale, anti-corruption movements are gaining traction. For instance, the Solomon Islands is conducting youth-led anti-corruption training workshops to foster transparency and accountability. Similarly, the Mobarakeh Steel Company in Iran is under investigation for allegations of corruption. These worldwide initiatives underscore the urgency of the fight against corruption and the need for comprehensive reforms.
