Sunday, December 24, 2023
Washington reaffirms commitment to continuously provide dollar services to Iraq, 24 DEC
Washington reaffirms commitment to continuously provide dollar services to Iraq
Shafaq News / The US Ambassador to Baghdad, Alina Romanowski, reiterated her country's commitment on Sunday to continue providing dollar services to Iraq.
In a post on X platform, Romanowski wrote, "The US Treasury continues its cooperation with the Central Bank of Iraq (CBI)," noting that "several Iraqi banks have now formed relationships with international banks for the first time, a positive step in making progress on banking sector reform."
She concluded by stating, "We will continue to provide US dollar services to Iraq in the interest of economic stability."
Earlier, on November 29, 2023, the US Wall Street Journal revealed that Washington declined Iraq's request for one billion dollars in cash from the Federal Reserve, citing concerns about Baghdad's use of the dollar conflicting with their efforts to curb it and halt illicit cash flows to Iran.
The American newspaper quoted US officials saying, "Cash in the hands of Iraqis has become a profitable source of dollars that flow illicitly to militias, corrupt politicians, and Iran."
Furthermore, i n early October, CBI affirmed that dollar shipments sent by the Federal Reserve adhere to agreed-upon schedules and timelines between the two monetary institutions.
"RV UPDATE" BY FRANK26, 24 DEC
Frank26
Question: "When we go to exchange is the removal of the 3-zero notes going to affect the value of our dinar?"
If you look at the American currency...we actually have a $500...$1,000...$10,000 bill...but after World War II our country become very powerful and we got rid of the 3 zeros just what Iraq is doing but we didn't do it physically. We did it on our exchange rate... Those zero notes are still legal tender...
The dollar is slowly going down in value inside of Iraq.Iraq, Kurdistan's trade ministers meet for talks on joint business regulations, 24 DEC
Iraq, Kurdistan's trade ministers meet for talks on joint business regulations
Shafaq News/ The trade ministers of the Iraqi federal government and the Kurdistan Regional Government (KRG) met on Sunday for talks on establishing a framework for cooperation in a bid to address strained ties between the two sides.
The meeting, held in Baghdad, was attended by Iraqi Minister of Trade Atheer Dawoud al-Gharari and KRG Minister of Trade and Industry Kamal Muslim Said.
The ministers, according to a readout by the federal ministry, discussed a spectrum of controversial issues, including the unification of import and export licenses, company registration, trade fairs, and the automated ration card system.
"Al-Gharari stressed the importance of cooperation between the two governments in all areas of common interest, particularly in the areas discussed at the meeting," the readout said. "He said that such cooperation would help to provide the best possible services to the people of Kurdistan, as well as to facilitate trade and commerce between the two regions."
Said echoed the federal minister's remarks and assured that "such cooperation would help to address any outstanding issues and facilitate regular procedures."
The ministers agreed to hold follow-up meetings to discuss the specific issues raised at the meeting. They also agreed to work together to develop a joint understanding and framework for cooperation.
"RV UPDATE" BY SANDY INGRAM, 24 DEC
Sandy Ingram
Inflation...political stability... balance of payment...national debt...recession - each of these seven categories helps determine the currency rate of any country...We want to wish each of you a happy holiday..
Article: "Iraq links Baghdad US embassy attackers to security services"
The attacks against US forces have continued. The Iraqi government said several people who are alleged to have attacked the US embassy in Iraq last week have links to the country security services...
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 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: "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 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.
🏦🇮🇶 CBI Intel Contact: Iraq’s Economic Transformation & Monetary Signals 💰📊 #iqd #iqdupdate
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