DINAR REVALUATION

Tuesday, January 16, 2024

FRANK26…..1-15-24……RESTORING CONFIDENCE !!!

A political movement to present a compromise candidate for the presidency of the Iraqi Parliament, and Al-Ithawi is the closest, 16 JAN

A political movement to present a compromise candidate for the presidency of the Iraqi Parliament, and Al-Ithawi is the closest

Shafaq News/ An informed political source reported, on Monday, that there is a political movement to put forward a compromise candidate for the presidency of the Iraqi Parliament after the House of Representatives failed in the session the day before yesterday, Saturday, to choose a new president to succeed Muhammad al-Halbousi, who was deported by a judicial decision.

The source told Shafaq News Agency, “A political movement is taking place in the capital, Baghdad, in order to choose a compromise candidate for the presidency of the House of Representatives, with a personality acceptable to all Sunni and Shiite political parties.”

He explained, “The name currently being proposed is Yassin Al-Ithawi, who was previously Deputy Minister of Higher Education, but until now there is no final agreement and the dialogues are continuing unannounced.”

Yesterday, Sunday, the Federal Supreme Court (the highest judicial authority in Iraq) received a lawsuit invalidating Shaalan al-Karim’s nomination for presidency of the Iraqi Council of Representatives, which included a request to issue a state order to stop the election session until the lawsuit is resolved.

The first round of voting for the new Speaker of the House of Representatives ended the day before yesterday, Saturday, with Al-Halbousi’s candidate, Shaalan Al-Karim, leading with 152 votes, and MP Salem Al-Issawi, the Sovereignty Alliance’s candidate, came behind him with 97 votes.

Later, the Iraqi Council of Representatives adjourned the session to elect a replacement for Muhammad al-Halbousi, Speaker of Parliament, whose membership was canceled by order of the Federal Court, after a quarrel between the representatives.

shafaq.com

"RV UPDATE" BY KAPERONI, 16 JAN

Kaperoni

there is no way Iraq can RV the Iraqi dinar with [120] trillion dinar in circulation. No country could afford. Iraq's total net worth is only around $16 trillon dollars.

There is no significant RV of the Iraqi dinar.  And if the dinar does ever go up in value, it will be based on the success and growth of Iraq's own economy. There are no shortcuts.
Article:   "Ali Al-Alaq, the current governor of the Central Bank of Iraq confirms that Iraq's money supply exceeds 100 trillion dinar."
If and when the Central Bank decides to increase the value of the Iraqi dinar more than likely it will be based on some type of gradual float as a result of the success and growth of Iraq's own economy and an increase in GDP.
I hope each and every one of you find success in this investment...It may take time. It may be another 1 to 5 years. I certainly hope not but I believe things could happen quickly over the next 36 to 48 months. It all depends on Iraq.
...We all know things don't happen fast in Iraq. Iraq has a lot of work to do in order to succeed. The first of which is pass over 100 stalled laws through Parliament to encourage investment in Iraq. And at the same time the Central Bank of Iraq has to continue reforms to the banking system, digitalization, and apply monetary tools to meet compliance .
A country's exchange rate is the result of the success and growth of their own economy. When you have a weak economy, you have a weak exchange rate.  Until Iraq passes laws, diversifies their economy and increases their GDP, nothing will happen with the dinar.  When Iraq passed their tripartite 3 year budget a few months back, it created the conditions for them to diversify and privatize their economy over the next three years.   Now Iraq is on the clock to accomplish such.
There's a new article out that many people are translating and confusing. They are not talking about an RV in Iraq, they are talking about the spread being in compliance early next year.
Just a reminder the spread is the difference between the official rate and the market rate or street rate and has been way out of whack recently in Iraq. This article simply means they expect the spread to come down closer to the official rate early next year. There is no RV.
    A very important statement was made back in 2020 by the prime minister's economic advisor Mohamed Salah who used to be Deputy Governor of the CBI under Shabibi. He stated that Iraq's entire wealth including all minerals in the ground amounts to only $16 trillion dollars. Knowing that information one can then determine that there is no way a significant RV could ever occur with over 90 trillion dinar in circulation.  It doesn't make sense...
They...have to have the dinar stabilized within the country and within the 2% rule mandated by the IMF in order to then accept IMF article VIII and begin to float the dinar which would raise its value based on supply and demand. All of these processes and or steps required time.
https://dinarevaluation.blogspot.com/2023/12/rv-update-by-kaperoni-10-dec_0650267841.html
https://dinarevaluation.blogspot.com/2023/12/rv-update-by-kaperoni-18-dec.html

(8/13) RV Timeframe & Political Challenges

Iraq completes three files related to its accession to the World Trade Organization, 16 JAN

Iraq completes three files related to its accession to the World Trade Organization

Today, Monday, the Minister of Commerce, Atheer Al-Ghurairi, announced the completion of three files related to Iraq’s accession to the World Trade Organization, while noting the importance of this step that will make Iraq an influential player in the international economic system.

In a press conference, Al-Ghurairi stressed that the visit of the head of the Kingdom of Saudi Arabia’s mission to the head of the team concerned with Iraq’s accession to the World Trade Organization is a serious signal of Iraq’s commitment to developing its economic relations and improving the business environment.

Al-Ghurairi stressed that the concerned team succeeded in finalizing three files and submitting them for final negotiation and approval, pointing out the importance of Iraq’s accession to the World Trade Organization, which will contribute to improving the business and investment environment in the country.

He noted that Iraq cannot be outside the international economic system, but rather will be a player and influencer in it, and will achieve the fruits of the improvements it is currently making in the business and investment environment.

nrttv.com