Monday, February 5, 2024
"RV UPDATE" BY TEXAS SNAKE, 5 FEB
TEXAS SNAKE
While I do not plan on opening the room tonight having spoken now twice to the banker today he is indicating he should hear something tomorrow and the absolute earliest notifications might be released would be Tuesday however he is more leaning to later in this coming week based upon past history. Either way I will post immediately upon hearing. GOD Bless.
Just visited with Okie re what the banker just related he was hearing to me from those above him that sometime late tomorrow or early Wednesday his appointment/exchange techs would be on call to schedule appointments.
He hopes this time it is for real as do all of us waiting.........
https://dinarevaluation.blogspot.com/2024/02/texas-snake-notes-2-feb.html
Well hopefully will get my computer repaired in a few days and can at least share what little is being brought forward.
Just visited with Okie re what the banker just related he was hearing to me from those above him that sometime late tomorrow or early Wednesday his appointment/exchange techs would be on call to schedule appointments.
He hopes this time it is for real as do all of us waiting.....
Coffee with MarkZ. 02/05/2024
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
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