With varying participation rates and massive violations, the Commission closes the polls and ends the elections, 18 DEC

 With varying participation rates and massive violations, the Commission closes the polls and ends the elections, 18 DEC

Shafaq News/ The Election Commission announced, on Monday, the closure of general ballot boxes for the governorate and district council elections, in the 15 governorates that are not organized into a region, amid varying participation rates and a number of electoral and security violations.

The Commission confirmed, in urgent news, that ballot boxes were closed at 6:00 pm on Monday, in all electoral centers distributed in 15 governorates, with the exception of the Kurdistan Region.

As of midday, the Chairman of the Board of Commissioners, Judge Omar Ahmed, announced that the percentage of voting in the general ballot for the provincial and district council elections amounted to only 17 percent.

Baghdad and the governorates of Diyala, Babel, Karbala, Dhi Qar, Diwaniyah, Muthanna, and Anbar recorded a weak participation rate in the general vote for the governorate council elections, as of midday.

Former member of the Election Commission, Saad Al-Rawi, noted the presence of delays in some polling stations, and told Shafaq News Agency that the participation rate will not exceed the rates of previous sessions, which usually range between 25 to 35%.

Security aspect

In this context, the Federal Minister of the Interior, Abdul Amir Al-Shammari, considered the polling stations “vital targets that must be defended,” moments after the polls closed and the public voting process ended.

Before that, a security source in Najaf reported that an explosion occurred near an electoral center in the Kufa district, in an attack that was the second of its kind targeting electoral centers, after an attack with explosive devices that targeted 4 electoral centers in the governorate.

On Monday morning, the voting process began in the general ballot for the irregular provincial council elections in a region in Iraq, as electoral centers began opening their doors to citizens to cast their votes.

On Saturday (December 16th), the special voting process for the local elections for members of the security forces, displaced persons, and prison inmates took place, and ended with a participation rate of 67%.

Provincial council elections were last held in Iraq in 2013 before they were dissolved by the major demonstrations that swept the country in October 2019 in protest against the deteriorating living and service conditions, the spread of financial and administrative corruption, and the spread of corruption in state institutions and departments.

shafaq.com

"RV UPDATE" BY MARKZ, 18 DEC

MarkZ 

  [via PDK]  ... article from the local news over there...says they have defeated the “parallel market” or the black market for currency. Why is this important?  We were told this would be the next step before they released the new rate. So there is great expectation. They continue to tell the Iraqi people to watch for changes in the dinar values at stores and market places.

I am not worried about a float. None of my bankers are worried about a float...I was told that because of the “Oil for Dinar“ program –the redeeming banks or redemption centers that this will be our best price.  All my bankers agree.

Evening News with MarkZ. 12/18/2023

FRANK26….IQD UPDATE……12-18-23….TWO GOOD IDEAS

"RV UPDATE" BY FRANK26, 18 DEC

 Frank26  

 On the 1st of January, you citizens of Iraq will no longer be able to use any foreign currency...Nothing except their currency.  Their currency is worthless.  Obviously they are cleaning the floor of the CBI from terrorism, counterfeiting, those in parliament that think they were going to take everything over again like Iran was planning but didn't work.  This monetary reform education right now is extremely successful.

If you held your dinars for 1 year and you have the receipt to prove that, the date, then more than likely you'll be somewhere in the 20% range of taxes.  If you...have no receipt, oh boy, you might be in the 40%.  Yikes.  You have 1 million, you'll have to give Uncle Sam $400,000.  I'd rather give him $200,000 because I have a receipt where I've held my dinars for at least 1 year. 

 For those of you...that just bought your dinars last month.  Hmmm.  You may have to consider to hold on to them for another 11 more months for tax purposes.  [NOTE:  Some gurus feel the dinar will be taxed as ordinary income and not capital gains as suggested here.  Always speak with your tax advisor at the appropriate time to determine the right tax for your unique situation.]

 There is hidden information being revealed in these [This week's bank stories] phone calls...They're running out of time...The Venturi effect of the whole monetary reform is becoming so narrow he can barely get everything through fast enough right now.  The employees are being educated/updated.  Very good.  They are telling them the dinar...we'll be doing it, sure...The banks know when and they're getting the customers ready and preparing them...This is what I am coming across...You may be still getting a lot of denials and that's still to be expected, but I am a central hub of information.  People call me because they want me to share it with you...these bank stories are powerful

Finance is discussing with the International Monetary Fund expanding the use of electronic payment devices, 18 DEC

 Finance is discussing with the International Monetary Fund expanding the use of electronic payment devices, 18 DEC

Today, Monday, the Ministry of Finance discussed with the International Monetary Fund expanding the use of electronic payment devices.
The ministry stated in a statement received by Al-Sumaria News, “A delegation headed by the Minister of Finance, Taif Sami Muhammad, the advanced staff in the ministry, and a number of representatives of the ministries and the Central Bank of Iraq, participated in the meetings of the visiting mission ofInternational Monetary Fundexperts held in Jordan for the period from 12-14/17.” /2023″.

The meeting discussed, according to the statement, “the priorities for correcting public finances through structural reforms, represented by encouraging foreign trade payments to commercial banks and reducing dependence on cash, in addition to expanding the use of electronic devices.”POSand electronic payments and accelerating the completion of the restructuring of government banks.

On the other hand, the meeting discussed, according to the statement, “the actual expenses and revenues until September 2023 and the expected ones for the end of this year, and the spending ceilings for the year 2024, in addition to the appointments file contained in Budget Law No. (13) of 2023, financial reforms, bank structuring, and the automation of customs, taxes, and treasury accounts.” The unified and comprehensive banking system and the application of the POS electronic payment system for the purpose of maximizing revenues .

The statement added, “The meeting discussed supporting funds for which allocations are allocated in the general budget, in addition to structural reforms to support private sector development, increasing job opportunities, reforms of the retirement system and the social protection network, increased revenues and exports, higher economic growth, banking and electricity sector reforms, enhancing governance, and reducing corruption.”

As the meeting indicated, “roleCentral Bank of Iraq in tightening monetary policy appropriately with the aim of alleviating inflationary pressures by continuing to enhance liquidity management, as the Central Bank has achieved good progress in implementing technical assistance recommendations for managing local liquidity and bridging the time gap between auctions of bank instruments to ensure continuity of liquidity absorption. Sami explained, during the meeting, that “economic recovery is underway amid the return of commercial financing to normal and the large financial expansion, maintaining economic stability and the importance of coordination between monetary and financial policy and ensuring the sustainability of the need to gradually renew financial policy while maintaining spending on the necessary infrastructure and spending needs.” Social security, controlling the wage bill and increasing non-oil tax revenues. The Fund praised “the role played by member states in economic and financial reforms to achieve sustainable development goals.”

alsumaria.tv

"RV UPDATE" BY SANDY INGRAM, 18 DEC

  Sandy Ingram   

Article: "Iraqi council elections: Almost 17 million voters head to polls on Monday"  Iraqis have begun voting for the first time in a decade to select new provincial council members who in turn will appoint governors...results are expected to be announced on Tuesday.  

   Iraq cuts oil production by 223,000 barrels per day voluntarily.   Iraq is over 90% dependent on oil revenue and oil prices, therefore when OPEC speaks we listen and we listen very carefully, almost as carefully as when the CBI makes and announcement.

https://dinarevaluation.blogspot.com/2023/12/rv-update-by-sandy-ingram-sheila-18-dec.html

 Article: "CIA warns Baghdad of serious consequences if attacks against US personnel  continue"  Since October 17th the US presence in Syria and Iraq has been under constant threat. 

https://dinarevaluation.blogspot.com/2023/12/rv-update-by-clare-sandy-ingram-15-dec.html

 [We] tried to ignore this news however, that is not possible Article:  "Iraqi PM places security forces under investigation over US embassy attack"  Iraq is doing what they can, but have not been able to stop the attacks against American Forces in Iraq.  Article: "Iran-backed militia vows more attacks after US Embassy in Iraq comes under fire"  When you attack the embassy of another country, this is far more serious.

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...

https://dinarevaluation.blogspot.com/2023/11/rv-update-by-sandy-ingram-25-nov.html

https://dinarevaluation.blogspot.com/2023/11/rv-update-by-sandy-ingram-30-nov.html

-------

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...

https://dinarevaluation.blogspot.com/2023/11/rv-update-by-sandy-ingram-25-nov.html