Saleh told us early in last year that they must bring the parallel market rate to the "Required Two Percent". This is part of the IMF requirement for full compliance with Article VIII. Based on what he said recently, it appears the target is 1350 or less in spite of 2% being 1346.4.
I am only watching the Market Rate at this time. It has decreased slightly since Wednesday and as of today is 1540 in Baghdad and 1530 in Kurdistan. Saleh said 1350 (135,000 to $100) soon. Hopefully soon is weeks and not months. IMSO, if they would RD, show the RV as just over a USD, they would get the Market Rate within the Required 2% very quick so they can RI. Perhaps that is the plan.
A thousand dinars angers the owners of the payroll outlets in Amara.. Pictures from the protest against Al-Rafidain
"Retirees can't bear it anymore"
Maysan
On Sunday, the owners of outlets for disbursing the salaries of retirees and employees in Maysan organized a protest against a new commission of one thousand dinars imposed by the Rafidain Bank, on withdrawing nationalized salaries, in addition to the previous 3 thousand dinars deducted in exchange for the service of withdrawing one million dinars from the salary.
the details
Rafidain Bank imposed a commission of one thousand dinars on every million withdrawn from salary delivery outlets, in addition to 3 thousand dinars imposed previously, which angered the outlet owners who organized a protest in front of the bank’s branch in Amara.
Haider Abd Falhi - Demonstration Coordinator:
There are 3 things that Rafidain Bank must change, the most prominent of which is adding a thousand dinars commission, which will be a new burden on employees and retirees, and this is what we reject.
In addition, the bank deducts an amount of 3,000 dinars for every withdrawal from the outlets, and this causes us huge losses.
There are matters that the Rafidain Bank has not resolved, most notably the recovery of damaged currency from salaries, and the compensation of outlet owners for the recurring shortage in the amounts received from the bank, and this is what the Rafidain Bank has not yet acknowledged.
Sabah Salem - outlet owner:
The outlet owners deposited deposits in the Rafidain Bank several years ago at a rate of 5 million dinars, which have not been returned yet.
There is rough treatment with outlet owners within the bank, and it would have been better for us to be dealt with in a better way than that, because we conduct large and continuous financial transactions with the bank.
Bassem Muhammad - Director of Al-Rafidain Bank in Al-Amarah:
We cannot change the procedures issued by the public administration in Baghdad, and responding to these protests is within its jurisdiction only. link
The Central Bank of Iraq...they're not going to be doing all the banking...JP Morgan Chase, CitiBank...those are the the banks that are going to be doing the correspondent work with the trade, cross border payments...That's what we've been waiting on. That's what happening. It looks like the international institutions have the green light. Looks like it's a pretty phenomenal time frame for that....
Al-Alaq said he was going to delete the zeros/the project to delete the zeros off the exchange rate. What did Al-Sudani say? He said the dinar would be stronger than the dollar.What did Salih say? He said they were going to have a major announcement. We're going to see if all three of those guys are telling the truth or not. I have a feeling they are...
Accounting started January 1st. Taxation in the dinar, commercial trading in the dinar was supposed to start on the 1st. We're going to have to watch them expose how this rolls out.
Iraqi stock exchange soars 97%. The other day we talked about what 52% and that was a pretty bold statement for them to say that. Now they're talking about 97% annual gain as an indication of economic upswing.. .
The oil & gas law is a very important and is considered to be integral to the citizens needs and the economic development of the country. They stop short of telling us what came of the oil & gas law today. Why?
...One reason would be that there is exchange rate sensitivity with respect to the law...An exchange rate to be one that is stronger than the dollar (Per Al-Sudani) will help largely in that regard. So, yesterday they were focusing on the importance of this law and with urgency. A very good sign!!!
Iraqi stock exchange soars 97%. The other day we talked about what 52% and that was a pretty bold statement for them to say that. Now they're talking about 97% annual gain as an indication of economic upswing...
The oil & gas law is a very important and is considered to be integral to the citizens needs and the economic development of the country. They stop short of telling us what came of the oil & gas law today. Why?
...One reason would be that there is exchange rate sensitivity with respect to the law...An exchange rate to be one that is stronger than the dollar (Per Al-Sudani) will help largely in that regard. So, yesterday they were focusing on the importance of this law and with urgency. A very good sign!!!
Developing the market for the banking sector is huge because look, the ISX shows that their index has been up about 52% in 2023...Why is that if Iraq is just status quo and it's just blah...? It's not.
Submission of a proposed law to "remove foreign forces" from Iraq, 14 JAN
twilight News / About a hundred deputies in the Iraqi parliament announced on Saturday the submission of a proposed law "Removing foreign forces from Iraq", amid unprecedented escalation Between armed factions and the international coalition forces, most notably the escalation against military bases in Country.
said MP Faleh Al-Khazali, during a press conference held at the Parliament building, with the participation of a number of MPs, attended by Shafaq News Agency: "We, members of the House of Representatives, present a proposed law to remove foreign forces from Iraq, at a request signed by 88 deputies."
He came This is as a result of "the continued violations of Iraqi sovereignty by US forces, by During the repeated targeting against the headquarters of the Popular Mobilization Forces and their leaders, who are part of the forces Iraqi Armed Forces," Khazali said.
He added This also comes as "considering that there is no need for foreign forces to be present in Iraq, Especially in light of the presence of a sufficient number of armed forces and security agencies that undertake Defending the homeland and its people."
Iraqi Prime Minister Al Sudani and the Governor of the Central Bank of Iraq Al Allaq would both be attending the World Economic Forum in Davos Switzerland for the annual meeting January 14th to 19th. “Everyone is expecting the RV on Sun. 14 Jan.” according to Sudani.The IMF, which is in charge of timing, said, “Anytime Friday to Sunday.”... Everything is ready to go. There is nothing more to do, we just have to sit back and wait for the Green Light.
Thurs. 11 Jan. Wolverine
The Codes have been locked in. I received a confirmation yesterday, but it was confidential. Carlos Petas actually put it in the telegram channel so I decided to place it in the room.
The funds might get released tonight or may get released tomorrow, we just don’t know. Everything is ready to go. There is nothing more to do, we just have to sit back and wait for the Green Light.
ANOTHER THING Medbeds are ready. I spoke to someone, actually a few days ago, who is in charge of the Medbeds in Colombia. They are just waiting for the Green Light for this to happen. THERE ARE 150 MEDBEDS IN COLOMBIA! This was confirmed by Charlie Ward as well. That is all I can tell you at the moment. …
I want you all to get ready as there is a lot of things happening now. That champagne bottle is getting more closer now.
God bless you all
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E.B.S. WE REITERATE THAT STARLINK IS READY TO SEND THE E.B.S SIGNAL TO ALL CELL PHONES IN THE WORLD. YOU ARE JUST WAITING FOR THE GREEN LIGHT. CERTAIN FINAL EVENTS WILL OCCUR FIRST. BE READY.
