Wednesday, January 10, 2024
To Strengthen Monetary Sovereignty In Iraq... Chaos In Currency Markets And Accusations Of Manipulation, 10 JAN
To Strengthen Monetary Sovereignty In Iraq... Chaos In Currency Markets And Accusations Of Manipulation
In this context, a member of the Parliamentary Economics Committee in Iraq, Soran Omar, accused influential parties of being behind the manipulation of the exchange rate. He pointed out that the government was unable to radically control the exchange rate, and that the measures taken to reduce it are still having limited impact.
He added that the ongoing smuggling and money laundering through some banks and money changers is working to complicate the situation, noting the continuation of the Central Bank’s measures in this context. https://www.nrttv.com/ar/detail3/21561
"RV UPDATE" BY NADER FROM MID EAST, 10 JAN
Nader From The Mid East
We told you we're going to switch from dollars to dinar and that happened...They talked about it yesterday and I'm really excited about it. Today they're talking about again about the market and how it's excellent...It's going up slowly. Listen, it's a lot of steps to do. They're working on it. Everyday it's a new step and that's really good. I'm excited about it. I hope everybody getting excited. Don't get too excited though. Keep grounded.
It's going to be $3.50 to 1 and it's going to play about Forex between $3.50 and $4.50. It's true what I tell you. I'm not playing around.
Many people sending me things, things about 2026. I don't think they're going to wait till 2026. I don't think whoever explained you this, he read it wrong...If it start to float it's going to go quick. We just need to float it...If they did like they said and took off the dollar from the market, from the streets, things going to go quick...I agree with them that it's going to go up gradually but it's not going to take two or three years to reach 1 to 1...
Question: "Is the rate and the [lower] currency gonna come out together?" I think yes. This is why I think yes. First, because they cannot change an exchange rate with a big numbers [rate] and Second, they cannot change a [lower] currency with the small exchange rate...If you change, you've gotta change both. If you take the 3-zeros from the currency, you're gonna have to take the 3-zeros out of the exchange rate in the same time. That's what I think.
Happy New Year, best wishes and all that stuff...A lot of people are sending me messages going like do you see any changes? ...I don't know why you're asking me that. What you guys heard? Who told you anything? Some people wrote me tonight at midnight the currency will be launched. Some people said their new rate will come out tonight at midnight ...I didn't see anything like that. They didn't say they're going to change the rate tonight. They didn't say they're coming out with currency tonight... They'll never tell you they're coming out with it...I'm not expecting anything tonight...
https://dinarevaluation.blogspot.com/2024/01/rv-update-by-nader-from-mid-east-3-jan.html
It Was Withdrawn A Year Ago And Is Surrounded By Mystery... 9 Important Projects In The Corridors Of Parliament Awaiting Legislation, 10 JAN
It Was Withdrawn A Year Ago And Is Surrounded By Mystery... 9 Important Projects In The Corridors Of Parliament Awaiting Legislation
Posted On01-09-2024 By Sotaliraq Baghdad/ Haider Hisham More than 400 days have passed since many important laws were withdrawn from within Parliament, during the Council of Ministers session, at a time when many are wondering about the fate of these laws, and what is the reason that prevents the government from sending them back to the House of Representatives again, to vote on and approve them, but “ “An important obstacle” identified by politicians that may prevent any law from being amended or legislated.
On November 15, 2022, the Council of Ministers, headed by Muhammad Shiaa Al-Sudani, held its regular session, and during the session, the Council authorized Al-Sudani to withdraw important laws from the House of Representatives, which is what Al-Sudani actually worked on, as he worked to withdraw nine draft laws.
According to a statement from the Prime Minister’s Office, received by Al-Mada, “The Council of Ministers decided to withdraw the draft law on addressing residential abuses, the draft law on the Reconstruction Council, the withdrawal of the list of ambassadors, in addition to withdrawing the draft law amending the companies law, as well as withdrawing the law on the first amendment to the National Oil Company law.”
The decision also included the withdrawal of the Flag Service Law, and the draft law on the second amendment to the Public Roads Law, and the last law was represented by the Federal Civil Service.”
The second deputy in the Strategic Planning and Federal Service Committee, Muhammad Al-Baldawi, revealed the fate of the laws that the Council of Ministers withdrew, while noting that The “main reason” for withdrawing these laws is that some of them are likely to be passed during the new legislative term.
Al-Baldawi said, in an interview with (Al-Mada), that “the Council of Ministers withdrew many important laws to reconsider and audit them and then re-send them,” adding: “There were many comments about them in principle to the Iraqi Council of Representatives, which prompted the government To withdraw it.”
He added, “The Council of Ministers, after withdrawing the laws, decided to hand them over to advisors, who are currently working on holding continuous meetings and meetings in order to complete them and mature them in order to advance them to the House of Representatives, even if they carry few notes, and after that it is possible to proceed inside the dome of Parliament.” “Without any political objections to it.”
The Vice Chairman of the Planning Committee explains, “The new legislative term may witness the passage of many laws in the House of Representatives.”
Important obstacle”
Political affairs researcher, Ziad Al-Arar, identified an “important obstacle” in amending and legislating laws in Iraq, while sending a message to the political forces.
Al-Arar mentioned, in an interview with (Al-Mada), that “there is a real obstacle that everyone collides with, which is (political consensus), which if it is not achieved regarding any file in Iraq, this file will not be amended, and will not see the light,” indicating that “the differences Quotas and political consensus are what manage the process of running the country in Iraq.”
He goes on to say: “Neither the Sudanese nor anyone else can amend or legislate what the government deems appropriate unless there is a political consensus because the political process was built on the basis of consensus,” pointing out that “this consensus took a new turn, so the Shiite forces now have a political consensus on A specific issue, then the Sunni forces, and the same is the case with the Kurdish forces, as there must be consensus in these houses, and then it goes into the public space.”
The political affairs researcher points out, “The scene has become complex, and we cannot blame the government for a specific failure to legislate and amend laws in light of political consensus.
This is a fact that we must speak publicly about so that the political forces know that the people know what is going on behind the scenes.”
At a time when many observers and followers of parliamentary affairs in Iraq consider that the current session is the least in terms of legislation and oversight, including interrogations, compared to previous sessions, there are those who defend this session in terms of the circumstances that accompanied it.
It is noteworthy that the new legislative term of the House of Representatives will begin today, Tuesday, January 9, while the Presidency of the House announced last Sunday that it will set the date for the next regular session to complete legislative and oversight duties, in addition to setting a session to elect the Speaker of Parliament. LINK
"RV UDATE" BY MARKZ, 10 JAN
MarkZ
[via PDK] There are a lot of folks looking squarely at today through the 14th-15th...we are very much sitting at the edge of our seats…again...I do feel like we are close to it being over.
[via PDK] Article: “Iran backs Iraqi call to end presence of US led forces”
Many around the world are pushing thi s…it is one of the key pieces for us…the removal date appears to be imminent ... Flash back to an interview that Donald Trump did…he said to get us out-we will be gone as soon as they pay us. It looks like we are leaving…so what does that tell you?
“Iraq issues $1.5 Billion reconstruction bonds” These are based on US pricing but in Iraqi dinar.
...on the group side I am hearing very positive things. They are specifically looking at dates between the 9th and the 14th of this month. This does give us a range to look at...
https://dinarevaluation.blogspot.com/2024/01/rv-update-by-markz-9-jan.html
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