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The Prime Minister's Advisor Details The Indicators Of The Efficiency Of Iraq's Foreign Reserves, 5 FEB

 The Prime Minister's Advisor Details The Indicators Of The Efficiency Of Iraq's Foreign Reserves

Baghdad - INA - Nassar Al-Hajj  , the financial advisor to the Prime Minister, Mazhar Muhammad Salih, detailed today, Saturday, indicators of the efficiency of foreign reserves, while stressing that

they indicate that Iraq today is better off in its financial history. Saleh said, to the Iraqi News Agency (INA), that    “Iraq’s oil revenues will remain the main source of growth in the country’s foreign currency reserves, and  those reserves will rise with the rise in the cycle of oil assets,  all of which lead to an increase in indicators of the efficiency of foreign currency reserves, whether commercial efficiency.”

 (Covering the mentioned reserves for the number of import months for Iraq, which currently exceeds 15 months compared to the global standard of three months),

or in covering the money supply, or by the fact that these foreign reserves in proportion have the ability to cover the external debt services payable.”  He added,  "The country's oil revenues still provide 98% of the assets of the investment portfolio for the country's foreign currency reserves, whether in monetary gold or various foreign currencies.

 All indicators of the efficiency of foreign reserves mentioned above indicate that Iraq today is in the best condition in its financial history."

 These reserves flourish and grow with the index of the growth rate in the current account surplus of the balance of payments to the country’s gross domestic product, which was

 estimated for the year 2023 at approximately (positive 9%), and is

 estimated for the year 2024, at the same similar rate,

according to data published by international credit evaluation institutions for Iraq.". He pointed out that

 “there are standard investment mechanisms and guides approved globally by the monetary authority in managing the country’s foreign currency reserves, as

 their tools and methods are evaluated in consultation with multilateral international financial organizations, including the International Monetary Fund and the World Bank, on a periodic basis to ensure optimal management of reserves, whether in Providing adequate returns, sufficient liquidity and low risks at the same time.”  He continued:

 “It takes into account avoiding all forms of risks, whether the risks of

      currency exchange rate fluctuations,

     interest, or liquidity risks, as well as the

     legal risks in managing those reserves, which are the basis of the country’s foreign investment portfolio, and

 today they represent something similar to the Iraqi dinar exchange rate stabilization fund that it defends.”

The country's monetary policy represents assets or assets corresponding to the national currency issued as (liabilities) and adequate coverage of the dinar to ensure its stability, in addition to the role of reserves in financing foreign trade for the private sector.  At the conclusion of his speech, he stressed that,

 “As the cycle of oil assets increases, the country’s foreign assets increase and inevitably rise in the country’s investment portfolio.”    https://www.ina.iq/202425--.html

"RV UPDATE" BY CLARE, 5 FEB

  Clare 

 Article:  "A government advisor details indicators of the efficiency of foreign reserves: Iraq is in the best financial condition"  Quote:  "...The financial advisor to the Prime Minister, Mazhar Muhammad Salih, detailed indicators of the efficiency of foreign reserves, while confirming that they indicate that Iraq today is better off in its financial history"

 Article: "Advisor to the Prime Minister: The financial situation in Iraq is stable and sound" 

 Quote:  "Advisor to the Prime Minister for Financial Affairs, Mazhar Muhammad Salih, confirmed today, Thursday, that the future outlook for the financial situation in Iraq is stable, while indicating that oil market indicators are still more than 10% above the price specified in the budget until now"

 Article:  "Romanowski regarding the US Treasury’s visit to Iraq: enhancing cooperation between the two countries” 

 Quote:   “The United States and Iraq share the goal of supporting a sound and strong financial system in Iraq, which will attract investment and ultimately benefit the Iraqi people. She added: I am pleased with the visit of US Treasury Undersecretary Ryan Nelson to Iraq, stressing that this visit has strengthened this important cooperation."

 Article:  " The Credit Bank of Iraq achieves a profit of 17.5 billion dinars during the year 2023” 

 Quote:  "For the year 2023... its assets rose to 507.7 billion dinars, while it was 406.7 billion dinars in the year 2022, a growth rate of 24.8%...The bank's profits grew by 63.5% during the year 2023 compared to the year 2022, which reached 10.7 billion dinars ”

 Clare:  With the closure...the dollar price decreased

1/20/2024

The main stock exchange in the capital, Baghdad, closed today, Saturday, due to the decline in the exchange rate of the dollar against the Iraqi dinar.

Selling prices in money exchange shops in local markets in Baghdad reached 153,250 Iraqi dinars for 100 dollars, while purchasing prices reached 151,250 dinars for 100 dollars.  LINK

https://dinarevaluation.blogspot.com/2024/01/rv-update-by-paulette-27-jan.html

Coffee with MarkZ. 02/05/2024

Iraqi dinar News | Central Bank Iraq Takes Action 8 Private Banks Barred...

"ANALYSIS OF IRAQ NEWS: IN NEED OF BOLD SOLUTIONS.. THE DOLLAR CRISIS IS MORE COMPLEX THAN THE CENTRAL BANK’S PROCEDURES – URGENT" BY MNT GOAT, 5 FEB

 IN NEED OF BOLD SOLUTIONS.. THE DOLLAR CRISIS IS MORE COMPLEX THAN THE CENTRAL BANK’S PROCEDURES – URGENT

An economist and academic at Cihan University, Nawar Al-Saadi, confirmed today, Thursday (February 1, 2024), that the dollar crisis has become a “chronic problem” that requires “bold” solutions from the government and not just the Central Bank’s measures alone.

Al-Saadi said in an interview with “Baghdad Today” that, “For two decades, Iraq has been suffering from cumulative problems, especially in the issue of trade with successive countries from the United States.”

Al-Saadi added, “Trade with Iran and Syria is covered by monetary demand, and Iraq needs $30 million to cover trade with Iran only. If the dollar exceeds the barrier of 200 thousand dinars, trade with Iran will remain profitable.”

He pointed out that “without controlling the border crossings and imposing fines on merchants, the government will not be able to limit the daily dollar bleeding,” indicating that “for this reason, the dollar will be purchased by the parallel market for the purpose of covering trade with Iran.”

For several months, the country has witnessed a rise in the dollar exchange rates, exceeding 150 thousand dinars for every 100 dollars, while the government and the central bank are trying to control the exchange rate approved by them in the parallel market by pursuing speculators on the one hand and taking a number of measures on the other hand.

https://mntgoatnewsusa.com/latest-mnt-goat-newsletter/

"RV UPDATE" BY GOLDILOCKS, 5 FEB

 GOLDILOCKS

The IMF currently has a Working Paper. A Working Paper is preliminary research that enables a new project, or in this case, a new digital asset based trading system to have a working model to test its theories. 

We already know the new digital asset based trading system is being tested and the payment networks through the use of stablecoins are already in pilot programs. 

These pilot programs allow the QFS to be viewed to see how they're working model is going to operate Globally. This is where regulations come into play allowing us to formulate a final paper called a White Paper.

A White Paper allows us to take research material into pilot phase programs whereby recommendations and implementation processes are given direction to proceed. 

We are in process of moving to White Papers that will allow us to move forward with technological interfaces that will be used in the digital asset-based trading system. 

During Protocol 20 activation from the vote that is about to take place on February the 20th, 2024, we will begin to see these Quantum Technological Networks begin to interface with one another Globally. 

From the Stellar Protocols, we have learned that it will take weeks and not months to finish or populate within the QFS. When we see the White Papers being presented from the IMF, we will be well on our way to integrating our new Financial System into Global networks. 

90% of the Fortune 500 companies are expected to be digitized by the end of this year. This is and always has been a process, but we are inside the final steps that will allow us to soon integrate many of the Quantum Technologies into actual practice. 

To kickstart these new Technological Systems, we will need a payment system to pay for their existence. These new digital payment systems are currently being tested and regulated for final White Paper distribution from the IMF and the World Bank. 

These announcements from the IMF and the World Bank will provide us with a Bretton Woods III announcement we have been looking for to start the new Digital Economy.

© Goldilocks 

https://www.imf.org/en/

International Bank for Reconstruction and Development

https://www.worldbank.org/en/who-we-are/ibrd

It is the Bretton Woods 3 Announcement that will call the RV. 

© Goldilocks