The American Ambassador: We share with Iraq the goal of supporting a strong financial system that attracts investment, 1 FEB
Thursday, February 1, 2024
"RV UPDATE" BY MARKZ, 1 FEB
MarkZ
[via PDK]
Comment: I hear more and more groups are under NDA’s.
MarkZ: We are hearing of more and more… My banking contacts still feel If we have to sign one - it will be about the amount we get...we are definitely close.
“Burhan Nassir Mohammed Al Namral sworn in as Iraq’s new Parliament speaker ” This one is important. It has been rumored in some circles for a few months that he was a stickler for moving forward with the white papers and rate change. I’m taking this as a good sign.
...bank story from Canada... “My brother went to a Canadian Imperial bank of Commerce or CIBC in Saskatoon. Establishing his new bank account...my brother said he had several devalued currencies. Then he asked them if they were aware of the RV we are waiting on. She replied “Yes I am - I can’t say anything else as I am under an NDA from the bank“ So they cannot give details but they are ready.”
Chambers of Commerce: Government support attracted many countries to establish economic relations with Iraq, 1 feb
Chambers of Commerce: Government support attracted many countries to establish economic relations with Iraq
The Federation of Chambers of Commerce announced today, Wednesday, that the private sector witnessed a significant recovery in 2023, stressing that government support for the sector worked to attract countries to establish strong economic relations with Iraq.
The head of the Federation of Iraqi Chambers of Commerce, Abdul Razzaq Al-Zuhairi, told the Iraqi News Agency (INA): “The private sector in Iraq witnessed a significant recovery during the year 2023, due to government support, in addition to the financial and monetary recovery in all Iraqi banks.”
He stressed, "The great government support for the private sector has had a positive impact on the influx of many countries to Iraq, to establish strong economic relations."
He pointed out, "The BRICS economic phenomenon has become a reality in changing the economic world in the world, as the dollar and the euro are no longer the main currencies in financial dealings link
"IRAQ BOOTS ON THE GROUND REPORT" BY FIREFLY, 1 FEB
Frank26
[Iraq boots-on-the-ground report]
FIREFLY: Alaq is in the news and he's talking about the monetary reform mechanism that the CBI used to control the rate. The project to delete the 3-zeros still exists. He's saying the parallel market will come to an end soon.
FRANK: Oh my goodness! This is what we want to hear. This is who we want to hear it from. This is perfect.
FIREFLY: Sudani says Iraq is on the verge of transformation process.
FRANK: Transforming from a program rate to a sovereign national rate...Everyday Sudani is pointing in the direction of your new exchange rate or your new national currency. Everyday he tells you there's a transaction, yeah from a program rate to an international rate.
"ONE OF THE REASONS WHY THE REVALUATION CONTINUES TO BE DELAYED" BY MNT GOAT, 1 FEB
ONE OF THE REASONS WHY THE REVALUATION CONTINUES TO BE DELAYED
THE CENTRAL BANK EXPECTS DOLLAR PRICES TO DECLINE IN THE MIDDLE OF THIS YEAR
Former official in the Central Bank of Iraq, Faleh Daoud, said that the exchange rate of the US dollar will fall to less than 1,500 Iraqi dinars by next June.
(What? First they told us it would fall by December, then by the new year and now June? It is obvious the CBI can not control the rate of the parallel market unless it took drastic measures and we know what those measures are. So why are they afraid to do it? Are they being blackmailed by the corrupt?)
Faleh Daoud said in a statement followed by Mawazine News, “The dinar’s exchange rate depends on the market and demand, because the currency market plays a role in its price, not the central bank,” noting that “the recent actions of the US Treasury Department and the Federal Reserve regarding transferring the dollar to Iraq caused… In the decline in the value of the currency, which is the reason for the instability of the dinar against the dollar.”
He explained, “Relying on the electronic platform had a positive side effect on the exchange rate against the dollar and created quasi-stability in the dinar’s exchange rate, and it may rise slightly by next June.”
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