What the IMF is saying is really good. But, no, the exchange rate isn't going change tomorrow. It's just another step in the right direction for Iraq...
Iraq is still taking the steps necessary to stabilize their economy, stabilize their currency, give value and strength to the Iraqi dinar.
Article: "IMF expresses optimism about non-oil financial growth in Iraq" This is a major must for Iraq. They need... non-oil financial growth...
They can't get to this fast enough. They can't get this to grow quick enough. The fact they rely so much on oil is going to hurt them instead of benefit them...If oil prices fall, they're back to square one and they'll start devaluing the Iraqi dinar if they can't find alternative to generate revenue for the state.
Everybody's asking me what's going on. What's the news. The news, you will see it on the 1st of January - what exactly is going on. They already gave you a date. I told you the 1st of January we'll be out of the dollar. We will not work with the dollar anymore in Iraq.
When we told you new currency coming out, it is. When we told you the rate will change, it is. Now, it depends how it's going to go. If they continue to attack the embassy and continue the bull shit over there it can slow down things.
But here's my expectation, I can be wrong, I can be right, my expectation the 1st of January will be no more [dollar]. Couple days later, a week later, new currency will come out. And maybe 2 or 3 days later a rate will come up...That's what I think.
The United States have signed off on everything and threw the ball to the IMF. Now everything is in the hand of the IMF. The World Bank, Treasury, CBI, all met...This how it's going to go now - As soon as they delete all the dollars from Iraq...things going to change.
There is a question raised about what some media outlets are reporting these days, as the media is talking about negotiations regarding requests submitted by the Iraqi side to the US Federal Reserve to obtain payments of cash deposited in the Federal Reserve’s coffers to finance the movement of exchanges and trades in the Iraqi market or to finance foreign trade according to invoices issued Delaying its disbursement or sometimes rejecting it under conditions restricting disbursement, and
it is not clear to the citizen who reproduces these rumors the accuracy of what is being said, which requires clarification to the media by the relevant authorities to enhance public confidence in monetary policy and put an end to these rumors and what is rumored in the media. Tendency regarding the continued custody of Iraqi funds.
Everyone knows that Iraq has regained its natural role after Security Council Resolution 1959 of 2008, but under the Strategic Framework Agreement with the United States, it resorted in the years (2009 to 2013) to the method of protecting funds from commercial creditors by the American government, and because of the circumstances that the country went through.
The annual protection request was repeated, the last of which was the request recommended by the Ministerial Economic Committee on May 22, 2013.
In 2014, the reserves of the Central Bank of Iraq reached about 80 billion dollars.
At that time, the President of the United States of America, Barack Obama, decided to lift the immunity granted to the Development Fund for Iraq and private property belonging to the Iraqi government abroad, and attributed the reason to the development taking place in the Iraqi government’s capabilities to manage The consequences accompanying the debts incurred by the previous dictatorial regime.
Since then, Iraq has managed its money independently, while media data reveal to us obligations and requirements related to international agreements and treaties, suggesting that the management of the financial and monetary file is related to external wills.
What reinforces the content of these data are the statements related to Iraqi requests to the US Federal Reserve and the US Treasury to meet the request. Cash shipments for 2024.
Yes, the international financial system, in light of the war in monetary currencies, and similarly to electronic currencies in a turbulent world full of conflicts and international interests, has the advantage of the power of the powerful, which is formed by dominating modern payment tools and mechanisms based on electronic technologies,
which sometimes limit and sometimes interfere in the affairs of financial and monetary policies in countries in the context of... Its control over the global banking system, and here the banking rule that says that property rights are always creditor in nature may fall, because how can the debtor control the creditor? https://alsabaah.iq/89050-.html
Our new USN currency – our folding new money that replaces the USD will actually go into the ATMs on New Year's Eve night.
Let's call it New Year's Eve because that's what it is. While we're watching Dick Clark's New Year's Eve or celebrating with a loved one or whatever you're celebrating New years this year - It could be way different for them to have ever celebrated before.
While that's happening the new USN will be going into the ATMs so that when you leave switching on and off and on change the software - software will take care of it. So when you go if you were to go, and I'm not suggesting that we do this, but if you were to go and get some cash out of the ATM on New Year's Day when the banks are closed, it should be there ready for you to get the new USN currency.
Otherwise, you have to wait to go into the bank on the second of January and that will be in the banks will be open after the first of January which is New Year's Day which is a holiday. So the money will be transitioning. Starting New Year's Day and the ATMs and on the second of January in the banks.