Iraq Nears End of Dollar Struggle Amidst Financial Reforms and Rising Dinar, 25 DEC

 Iraq Nears End of Dollar Struggle Amidst Financial Reforms and Rising Dinar

As Iraq inches closer to the resolution of its dollar conundrum, a recent statement from a media advisor to Prime Minister Mohammed Shia al-Sudani has confirmed the near-end of this struggle. The U.S., represented by Ambassador Alina L. Romanowski in Baghdad, has pledged its support to the Iraqi government’s efforts by offering dollar services.

Renewed Confidence Between Baghdad and Washington

The Iraqi government’s commitment to financial reforms and the resolve to rectify institutional practices have fostered a renewed sense of confidence between Baghdad and Washington. Romanowski has lauded the mutual cooperation between the U.S. Treasury Department and the Central Bank of Iraq. The budding relationships between Iraqi banks and international banks are viewed as a positive stride towards reforming the banking sector.

Washington’s Refusal and the Rising Dinar

This announcement follows a report by The Wall Street Journal, revealing that Washington had declined Iraq’s request for $1 billion in cash from the Federal Reserve. This refusal was attributed to the efforts to curb Baghdad’s dollar use and halt illegitimate cash flows to Iran. Contrarily, the Central Bank of Iraq had previously announced that dollar payments from the Federal Reserve were on track, adhering to a schedule mutually agreed upon by both institutions. Simultaneously, the value of the Iraqi dinar has seen a surge for the first time in about a year following the formation of the current government. This government has been combating currency speculators and manipulators while addressing the currency sale window used for financing import and export operations.

A Hopeful Start to 2023 for Iraq

Prime Minister al-Sudani has initiated the formation of an Iraqi-Turkish committee to streamline trade and strategic partnership between the two nations and bolster Iraqi merchants’ imports in Iraqi dinars. Despite the preliminary local election results announced a week ago, the final results are yet to be declared, leading to public confusion. Nevertheless, the U.S. ambassador reiterated the continuation of dollar services to Iraq, and Prime Minister al-Sudani appeared confident as he inaugurated the Freedom Bridge in Baghdad, indicating a hopeful start to 2023 for Iraq.

https://bnnbreaking.com/world/us/iraq-nears-end-of-dollar-struggle-amidst-financial-reforms-and-rising-dinar/

"RV UPDATE" BY NADER FROM MID EAST, 25 DEC

 Nader From The Mid East  

Article quote:  "Salih the financial advisor to the Prime Minister confirmed that the dollar exchange rates in the parallel market began to approach the official price set at 1320 per dollar after recent measures taken by the central bank and the Iraqi government..."

That's what's slowing down all this process.  It's people still using the dollar in Iraq.  Even me, I use the dollar in Iraq.  When I was there last week I use a dollar in Iraq.  Why?  Because it's a lot easier.  It's smaller.  You don't carry a lot.  You carry $500, $600, $700 with you, $1000 max...If I didn't have the dollar and If the dinar for me to carry...it would be a lot in my pockets..

 The facts are the facts.  If they delete the dollar, if they take off the dollar from the markets in Iraq, they're going to have to come out with a small category of dinar.  That's it.  Why?  Because it's too much dinars to carry...I'm not going to cary 150,000 dinars in my pockets.   I'm not going to do that. I prefer to have $100 than 150,000.

 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.

 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.

https://dinarevaluation.blogspot.com/2023/12/rv-update-by-nader-from-mid-east_0350340910.html

🔥Iraqi Dinar🔥Wooooo Hooooo🔥News Guru Intel Update IQD Value to USD🤑💵🤑🎉

Sudanese adviser on the dollar: The battle is nearing the end, 25 DEC

 Sudanese adviser on the dollar: The battle is nearing the end

Mawazine News – Baghdad

Media adviser to Prime Minister Hisham Al-Rikabi confirmed on Sunday that our battle with the dollar is nearing an end.
Al-Rikabi said in his tweet, followed by Mawazine News, that “the will of the Sudanese government to carry out reform within financial institutions in Iraq and the insistence on correction, were important factors in strengthening confidence between Baghdad and Washington, and constituted a positive step in achieving success within the banking sector.”
He noted that “we said it earlier and we confirm it today, our battle with the dollar is nearing an end.”

https://mawazin.net/Details.aspx?jimare=239579

"RV UPDATE" BY FRANK26, 25 DEC

  Frank26 

 Article:  "Media Advisor to the Prime Minister: Our battle with the dollar is almost over"  THE SANCTIONED PROGRAM RATE IS ALMOST OVER!

The HCL is waiting for what you're waiting for, what the contracts are waiting for, what everybody's waiting for - the new exchange rate.  You see the new exchange rate you got the HCL automatically.  It has no choice but to come out hand in hand.  One feeds the other.  But only once can feed the other, not both ways.  It's not symbiotic. 

 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.  The Iraqi citizens are removing the dollar from their lives whether it be usage in commercial transactions, business, at the markets.  By doing that they're using their currency the way they were told to do.  That action is causing the dollar to lose ground and the Iraqi dinar to gain ground.

Irqq is a safe place ship all you goods 😀😀 BY NADER FROM MID EAST

Iraq is going through major changes.” Parliamentary Finance identifies 3 factors that control the 2024 budget, 25 DEC

 Iraq is going through major changes.” Parliamentary Finance identifies 3 factors that control the 2024 budget

Member of the Parliamentary Finance Committee, Mudar Al-Karawi, identified three factors that control Iraq’s budget for the year 2024.

Al-Karawi said in a press interview seen by “Taqaddam” that “the volume of actual and total spending for Iraq in the year 2024 may exceed the current year, amid expectations of an increase in the exchange rate with the launch of more than 1,300 service projects nationwide,” pointing out that “the economic situation is recovering.” But very slowly due to accumulations extending over years.”

He added, “It is not possible to be certain from now that inflation will remain at its current levels, and it may decrease or rise, in addition to not confirming that a financial deficit in 2024 will be larger or smaller than the current year,” indicating that “Iraq is living with major changes after the Gaza war and its repercussions that have affected it.” “It began to be monitored through what is happening in Bab al-Mandab and other areas, and the possibility of expanding confrontations in the Middle East in general.”

Al-Karawi indicated, “The Finance Committee will hold a series of meetings with the Ministry of Finance and the rest of the institutions concerned with the economy at the beginning of next year.” To determine the expected deficit rates and what solutions are proposed,” he pointed out, “stability, oil prices that are compatible with the country’s needs, and exchange mechanisms are all factors influencing the 2024 budget.”

After a difficult struggle that extended for months, the House of Representatives voted on the general financial budget for the years 2023, 2024, and 2025 last June, after a series of sessions that extended until the early hours of dawn, which resulted in a tripartite budget, the highest in the history of Iraq, as it was described as “explosive” with a value of 198 trillion and 910 billion dinars.  link