Friday, December 29, 2023
Thursday, December 28, 2023
What are the reasons for delaying the resumption of Kurdistan oil exports so far?, 29 DEC
What are the reasons for delaying the resumption of Kurdistan oil exports so far?
Information/Exclusive..
Former member of the House of Representatives, Ghaleb Muhammad, revealed on Thursday the reasons that stand in the way of resuming exports from the Kurdistan region, while stressing that the problem lies in the contracts concluded by Kurdistan with the companies responsible for the operations of extracting and exporting oil.
In an interview with the Maalouma Agency, Muhammad said, “The contracts included a full partnership with the Kurdistan government to extract and export oil,” noting that “the contracts were recorded at very high amounts that the central government cannot pay.”
He continued, “Finding appropriate solutions for these contracts lies in adding new articles to the general budget law for the year 2024,” pointing out that “the central government has the right to take the necessary measures and decisions to resume oil exports.”
He added, “Turkey was the largest beneficiary of exporting oil directly from the region through its own companies,” adding that “the problem lies in the contracts that Kurdistan concluded with the companies responsible for the operations of extracting and exporting oil.”
A member of the House of Representatives, Thaer Makhif, had, in an interview with the Maalouma Agency, attributed the disruption of the resumption of the Kurdistan region’s oil exports to his government’s persistence in the law and the constitution, while he stressed that the procedures and decisions issued by the central government will bind the region to all laws.
almaalomah.me
"RV UPDATE" BY SANDY INGRAM, 29 DEC
Sandy Ingram
Why are we seeing reports of a meeting with the IMF in Jordan and a meeting with the Department of the Treasury and the US Federal Reserve in Dubai?
...The meeting with the IMF had to do with the IMF staff team helping the Iraqi authorities reform the banking system...This meeting more than any other tells us Iraq may be preparing to join the global financial network, aka Forex Market...Here's the bottom line. Iraq has never really been on the Forex market. These reports IMPLY Iraq is headed in the direction of international currency inclusion while using its own currency for transactions within th country beginning January 1, 2024.
A drone attack on a military base hosting US troops near Erbil in northern Iraq...caused casualties...Iran-backed militants claimed responsibility for the attacks...The attacks occurred on December 25th.
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.
AN ECONOMIST SPEAKS PASSIONATELY ABOUT THE FATE OF THE “ANCIENT” IRAQI DINAR AGAINST THE DOLLAR, 29 DEC
AN ECONOMIST SPEAKS PASSIONATELY ABOUT THE FATE OF THE “ANCIENT” IRAQI DINAR AGAINST THE DOLLAR
Economic researcher, Ziyad Al-Hashemi, said on Tuesday that the Iraqi government and the central bank have exhausted and weakened the value of the Iraqi dinar in a difficult journey with the dollar.
Al-Hashemi stated in a post on the “X” platform, that “the currency that rebounds against the dollar due to a statement (a foreign ambassador), and then declines the next day due to (military strikes) here or there, cannot be considered a cohesive currency or capable of… Preserving value, but the problem is not with the currency, but rather with those who work in its name.”
He added: “The Iraqi government and the Central Bank exhausted the Iraqi dinar and weakened its value and reputation during a difficult journey with the dollar, during which the state drained tens of billions of dollars to prove the saying (the dinar is stronger than the dollar), and so far the official system has not been able to achieve that.”
He continued, “It is unfortunate that the fate and reputation of the (ancient) Iraqi dinar is in the hands of an official government group, which does not value its legal value as it should, and does not work properly to defend it or restore confidence in it locally and internationally.”
"RV UPDATE" BY WALKINGSTICK, 29 DEC
Walkingstick
They are telling the citizens in the middle of January the IQD exchange rate will finally match the official exchange rate of the CBI. What is the official exchange rate of the CBI high now? 1310. Do you think it will stay at 1310? No. No matter what the CBI exchange rate is in the middle of January the CBI is saying the market rate and the official exchange rate of the CBI will be the same. So it could be an RI rate. Or it could be at 1310...It really doesn't matter what the rate is. As long as they are the same...
The whole de-dollarization phase the monetary reform is going through right now is in order to not use the American dollar any longer. This system was meant to be temporary. It was not meant to last 20 years...They have stability and security. These are the 2 factors we've been seeking. They tell you they have it. De-dollarizing is the last part before you introduce a new exchange rate and a new currency into a country...I should say de-foreign-currency-izing...A country should not have many currencies. It causes many problems
At what rate will the IQD go into the [Middle East] basket? I don't know...This is an RI. This is the reinstatement phase. The goal is to reinstate the value that the Iraqi dinar once was proud of...It's a reinstatement to get to the Real Effective Exchange Rate (REER) to a float. The key is to let them get to that number.
Article: " A government source reveals the Sudanese measures to reduce the dollar to its official price" IT IS BECAUSE THE IQD IS GOING UP IN VALUE AGAINST THE USD...NOT THE OTHER WAY AROUND!
EXCERPTS FROM MNT GOAT, 23 NOV
EXCERPTS FROM MNT GOAT Bottom line is this – the IMF fully intends to repeg the IQD to a basket of currencies once they revalue it and tur...
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Frank26 [Bank story] This time we didn't go down, we just called [the bank]... We said we want to see if we can exchange some cu...
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Bank appointment for Currency EXCHANGE Instructions/Checklist Bank Name_________________________________________ Bank 800#____________...
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Walkingstick All these meetings that the CBI had with all these agencies that were helping them with their monetary reform are done. Al...