For any Iraqi that lives outside of Iraq they will take advantage and exchange their 3-zero notes for American dollars. The monetary reform is getting louder and louder everyday and very direct. There is no confusion. There's no need to wonder when it's going to happen because they're telling you it's happening. IMO the lower denoms, new exchange rate and the float in the basket is the next phase of your monetary reform...Prime Minister Sudani is bragging about it right now...
Article "The International Monetary Fund welcomes Iraq's accession to a program that supports economic reforms "
All I could say was Holy cow! That's huge. The IMF, remember who they are. They are the one who give Iraq/CBI permission to raise or lower the value of their currency, to print or to destroy currency. Everything they do in their banking structure is governed by the IMF...This is the announcement by the IMF that Iraq is international.
Al-Rafidain launches the third issue of reconstruction bonds… available in two categories, 23 JAN
Baghdad – 964 On Monday, Rafidain Bank announced the issuance of the third issue of reconstruction bonds, while indicating that it will be in the form of two categories, a 500 thousand dinar bond and a million dinar bond.
A statement from the bank, a copy of which was received by the 964 Network: In a step to enhance the investment aspect and in line with the directives of the Ministry of Finance.
Rafidain Bank announces the offering of the third issuance (reconstruction bonds) for sale to citizens until January 30, 2024. With the same mechanism previous to the first and second issues.
It will be available in two categories:
– A bond of 500,000 dinars with an annual interest rate of 6 percent, paid every six months for a period of two years.
– A 1,000,000 dinar bond with an annual interest rate of 8 percent, paid every six months for a period of four years.
The bank confirmed that the person wishing to purchase the bonds must submit a direct request to the bank, accompanied by the original identification documents, explaining that the buyer will be given a receipt by the bank in exchange for the amount he paid to purchase the bond. The buyer will keep this receipt until the bond is prepared, and the buyer will bring the aforementioned receipt to The bank to receive the bond after preparing it.
He stated that the trading of bonds takes place in the stock market, buying and selling, in addition to that, the statute of limitations for the bond is 10 years after maturity, and then it is transferred to the Ministry of Finance, pointing out that the purchase and trading of the bonds offered (Emaar bonds) are exempt from taxes, according to what is stated in the Federal Budget Law No. 13 of 2023.
Article "Parliamentary Finance Committee: A surplus of more than 10 trillion in the 2023 budget”
Quote "The total revenues of the Iraqi state, as of November 2023, amounted to more than 121 trillion dinars, while expenditures amounted to more than 110 trillion dinars, which means there is a surplus of more than 10 trillion dinars, according to the Iraqi Ministry of Finance .
Article "An exciting statement by Al-Sudani: How will Iraq double its non-oil revenues by 200% in just two years?" Quote "For oil revenues to be 80% of total revenues, non-oil revenues must be more than 24 trillion dinars, which means doubling them by about 200% of their current number"
Article "For the first time...the assets of Iraqi banks record an unprecedented number" quote “the volume of assets of Iraqi banks operating in Iraq amounted to more than 202 trillion dinars, which is the first time that it has exceeded the barrier of 200 trillion dinars.”
Information/private.. Member of the House of Representatives, Jassem Al-Atwani, confirmed today, Monday, that the American side is obstructing some agreements that are in the interest of Iraq, while he stressed that the current government is continuing to liberate itself from American hegemony, on the military side.
Al-Atwani said, in an interview with the Maalouma Agency, that “the government proceeded to liberate itself from the agreements that were imposed on Iraq after the Gulf War, including exit from Chapter Seven, and restricting the country in terms of choosing its military fate.”
He added, “The government concluded agreements with countries that were banned from Iraq by America,” stressing that “the American administration always obstructs military agreements that are in the interest of Iraq.”
The member of the House of Representatives explained, “Washington previously obstructed the Russian arms agreement, after it negatively interfered with the deal, and ultimately failed the agreement,” adding, “There is no article in Iraqi law that requires Baghdad not to choose the appropriate weapons to defend the country.”
Earlier, a member of the Parliamentary Security and Defense Committee, Waad Qaddo, confirmed that arming the security forces is not at the required level, indicating that the American side greatly affects the arming of the Iraqi forces, especially with regard to the issue of aviation.
The United States of America continues to dominate and control arms purchase contracts for Iraq amid a major loss of most of the weapons that were imported, in addition to the high price that reaches several times the price of what is available in other countries and with higher efficiency.
I never said it's not going to happen. It absolutely will but it's going to go up in increments IMO. Is Iraq doing what they need to do to get back on track? They are. What are the biggest hurdles? They need to do something about corruption...Unless these things change we're going to have a hard time getting to where we're trying to...change the exchange rate.
[Response to Nader's Iraq's economy is one of the best in the world below] No it's not. Not right now...There are other contributing factors...I agree in the future [they're going to be fine] but I'm talking about now...Anything is possible in the future but in their current position these things are what's wrong that need fixed...