IMO those of you that deal in commodities...you saw 1.68...on the 15th. Today you saw 3.04 on the commodity trades with the Iraqi dinar and you saw it being done in Iraqi dinars, no other foreign currency ...based on what we are seeing, they are agreeing to the future rate of the Iraqi dinar in commodities in dinars. These are contracts...to buy or sell a specific quantity of a physical commodity at a specific price on a particular date. Basically what you saw...IMO are Futures.
Article: "JPMorgan Bank announces its readiness to open accounts for three private Iraqi banks" HEY CHASE BANK MANAGER... READ 'EM & WEEP!!! I TOLD YOU SO!
What did we say they were going to do on the 15th? Go international. Do you think they did? Yeah. It's not for me to prove it to you, it's for them to show it to you. But let them show it to the citizens first.
Beside Sudani and Alaq, the only two we listen to, I want you to add Barzani. As time goes by you'll understand why. Barzani is working very nicely with Sudani, Baghdad, the GOI...We're adding Barzani to the group. Sudani and Alaq are explaing the monetary reward to the Iraqi citizens, so is Barzani.
IMF welcomes Iraq’s accession to a program that supports economic reforms
Fuze: The primary Economic Program for economic development of a country is Artcle 8 compliance. This article states Iraq has ascended to this mysterious program, to begin implementation next month!!!!! Not without a REER (reel effective exchange rate) you won’t!!!
This is huge News!!!!
Economy News – Baghdad
The Managing Director of the International Monetary Fund (IMF) welcomed on Thursday Iraq’s accession to a non-financing program to support economic reforms, during her meeting with Prime Minister Mohamed Shia Al-Sudani to meet in Davos.
The Prime Minister’s Information Office said in a statement received by “Economy News” that “Sudan met with the Managing Director of the International Monetary Fund, Kristalina Georgieva, on the sidelines of his participation in the Davos Economic Forum held in Switzerland.”
During the meeting, they discussed the financial cooperation relations between Iraq and the International Monetary Fund, within the framework of supporting the development path in Iraq.
Al-Sudani pointed to “the government’s plans in the field of economic and financial reform, as a gateway and basis for all reforms planned by the government in all vital sectors.
Georgieva welcomed Iraq’s accession to a non-financing program to support economic reforms, as meetings with the IMF begin next month to implement this program.
She also praised “the steps taken by the government in the field of the financial and banking system, and improving the business and investment environment,” expressing “understanding of the specificity of Iraq and the challenges it faces.”
Baghdad (IraqiNews.com) –“The Iraqi Prime Minister, Mohammed Shia Al-Sudani, met on Thursday with Kristalina Georgieva, Managing Director of the International Monetary Fund (IMF), who welcomed Baghdad’s accession to a non-financing program to support economic reform in Iraq.”
The IMF is expected to move forward with a non-financing program in Iraq beginning next month.
An unfunded debt is a short-term Financial obligation that comes due within a year or less.
It is a short-term contract whereby two entities agree on a non-performance-based payment, and the monies received are on a limited basis.
In other words, Iraq is planning on using a limited support system from the IMF to push their Economic Reforms out in February of 2024.
Live: Prime Minister Mohammad Shiaa Al-Sudani, Director General of the International Monetary Fund, Kristalina Georgieva, met on the sidelines of his participation in the Davos Economic Forum held in Switzerland.
During the meeting, according to a statement issued today, Thursday, by the Prime Minister’s Information Office, they discussed financial cooperation relations between Iraq and the International Monetary Fund, within the framework of supporting the development path in Iraq.
Al-Sudai referred to the government’s plans in the field of economic and financial reform, as a gateway and basis for all reforms planned by the government in all vital sectors.
Georgieva welcomed Iraq’s accession to a non-financing program to support economic reforms, as meetings with the Fund begin next month to implement this program, and praised the steps taken by the government in the field of the financial and banking system, improving the business and investment environment, expressing her understanding of Iraq’s privacy and the challenges it faces.
In a separate context and on the sidelines of the Davos events, the Prime Minister met with the President of the Swiss Confederation, Viola Amherd.
The meeting dealt with bilateral relations between the two countries, and ways to develop them in various economic, banking, security, diplomatic and cultural fields, and the agreement to start bilateral consultations for the purpose of activating the joint committee between Iraq and Switzerland, which has been suspended for more than 3 decades.
The vital development path project, and important opportunities in it, which Swiss companies can invest and participate, was also discussed.
The Prime Minister expressed his appreciation for the position of the Swiss side and its cooperation with Iraq in the return of precious artifacts belonging to Iraqi civilizations, which were smuggled during the past years.
On the war on Gaza, Al-Sudani stressed that stopping the aggression is the key to the return of stability to the region, and constitutes a moral and humanitarian responsibility of the international community, the countries of the European Union and the rest of the major countries.
For her part, Amhird affirmed her country’s support for efforts to stop the war, end the suffering of the Palestinian people, and Switzerland’s readiness to provide all forms of urgent humanitarian assistance to the Palestinians.
Militia Man: Economic experts in Iraq are talking about using a basket of currencies. They are talking using other currencies and for the dinar to compete with the value of the dollar.
MarkZ: When you said Iraq plans to compete with the US dollar- They cannot compete with the USD at 1 dollar buying 1310 dinar.
Militia Man: I just read that the basket of currencies with the Euro, the Chinese yuan, and the UAE durham will be used to value the Iraqi dinar in the way that competes with the US dollar. That is the quote.
MarkZ: That is telling.
MarkZ: There is no future for them without an improved exchange rate...
Militia Man: If they have a REER (Real Effective Exchange Rate) based on true values…from oil, natural gas, borders, tourism, taxes and tariffs…it’s going to be phenomenal…and that is what they are working on. I think everyone should be excited as we are watching it unfold. We should all have confidence that what we are invested in is coming to fruition. That is my belief…everything is very positive.
Question: What happens if they just print new notes and the dinar we hold are not good anymore?
MarkZ: That will never be accepted in the international world. You would have to have a closed economy to do that…like N. Korea. You cannot do that to the international world though.
Militia Man: We can clearly see the people behind this – the WTO, The IMF, The world Bank…the BIS, the Federal Reserve bank…The US, Canada, The UK…all kinds of countries hold dinar in their foreign reserves. Iraq cannot just say…”Sorry guys- we aren’t paying you” That is not going to happen.
We are talking trillions. Look at the US- The US embassy in Iraq is one of the biggest in the world. One of our presidents said we are going to get paid back for this. They are planning big things over the next few months and need an exchange rate to match. Sudani has been moving on steroids to get this done.
Question: What happens if they just print new notes and the dinar we hold are not good anymore?
MarkZ: That will never be accepted in the international world. You would have to have a closed economy to do that…like N. Korea. You cannot do that to the international world though.
Militia Man: We can clearly see the people behind this – the WTO, The IMF, The world Bank…the BIS, the Federal Reserve bank…
The US, Canada, The UK…all kinds of countries hold dinar in their foreign reserves. Iraq cannot just say…”Sorry guys- we aren’t paying you” That is not going to happen. We are talking trillions.
Look at the US- The US embassy in Iraq is one of the biggest in the world. One of our presidents said we are going to get paid back for this. They are planning big things over the next few months and need an exchange rate to match. Sudani has been moving on steroids to get this done.