Monday, February 5, 2024
"RV UPDATE" BY RAYREN98, 5 FEB
RayRen98
GOOD NEWS: A TOP SOURCE SAYS THAT THE BOMBINGS WERE "ACCOUNTED FOR" IN THE PLANNED RELEASE OF THE RV. SO, IT APPEARS THAT EVERYTHING IS "ON SCHEDULE" AS WE WERE INFORMED.
3-LETTER GUYS ARE INFORMING THAT THE "ISSUE" STOPPING THE RV HAS BEEN RESOLVED...
[via Babysmom] ..."EFFECTIVE 1/1/24 (BUT STARTED ALREADY) DEALERS (USA) CAN ONLY SELL YOU $1,000 WORTH OF DINAR PER 24 HOUR DAY. THAT'S NOT EVEN 1 MILLION DINAR TODAY."
[via Babysmom] ..."BANKERS CAN SEE RATES..."NOW" EVEN THOUGH THEY HAVE TO WAIT ON FOREX TO OPEN FOR THIS WEEK...WOOOOO HOOOOOO"
US BANKS HAVE THE RATES, SAID THEY WERE WAITING FOR FOREX TO LOAD BEFORE THEY CAN START ...THEY "THOUGHT" IT WOULD BE AT OPENING ON SUNDAY EVENING, BUT NOT YET. FEDERAL RESERVE IS SENDING ALL STAFF IN TOMORROW NIGHT TO OBSERVE THE "TRANSACTION" ... .I DO "BELIEVE" THAT IT HAS BEGUN!! RATES DID CHANGE IN IRAQ LAST WEEK...MAYBE AGAIN OVER THE WEEKEND?
WAITING TO HEAR FROM SOME FOLKS WHO WERE EXCITED LAST NIGHT AND WERE LOOKING TO SEE SOMETHING (BEHIND THE SCENES) THROUGHOUT THE NIGHT...TIME WILL TELL
https://dinarevaluation.blogspot.com/2023/10/rv-update-by-babysmom-rayren98-17-oct.html
Fri. 15 Dec. TNT RayRen98:
The expected RV is now scheduled. Good news. This morning Iraq citizens were told in the next couple days. Sudani told ppl the rate is going to change in the next couple of days. I also go this from Tish she was watching in Iraqi tv. The RV was supposed to occur last night Thurs. 14 Dec.
Sudani was telling ppl this morning in a town hall type of meeting that the rate is going to change in the next couple of days. The last day the rate changed was the 20th of December. If Iraq says today is last day, 4:30 EST is the next day Iraq time ~ a few minutes past midnight. They wanted to do it at 1:00 am eastern. This is how they want it to go down. In Iraq everyone is off Monday and Tuesday so they can go vote and the budget will be released on Tuesday. All the money.
Fri. 8 Dec. TNT: It was supposed to go Thurs. night 7 Dec. Everyone was waiting on the IMF to release it. After a meeting earlier today Fri. 8 Dec, contacts said it will happen by Mon. 11 Dec. Sun. 10 Dec. is Iraq’s Victory Day, so Tony thinks it might happen then.
People that have already contacted their banks are being called in to go over the procedures for the exchange, interest rates they would pay them, debit and credit cards that will be available to them, etc. Banks are acknowledging that it is happening and that they want people to choose them.
https://dinarevaluation.blogspot.com/2023/12/judy-notes-9-dec.html
“THEY TOLD EDDIE ON THE 29TH OF JANUARY, A CAMPAIGN WAS BBEING LAUNCHED TO EDUCATE THE IRAQI CITIZENS ON THEIR MONETARY REFORM… THIS IS ANOTHER EXAMPLE OF IT” BY FRANK26, 5 FEB
“THEY TOLD EDDIE ON THE 29TH OF JANUARY, A CAMPAIGN WAS BBEING LAUNCHED TO EDUCATE THE IRAQI CITIZENS ON THEIR MONETARY REFORM… THIS IS ANOTHER EXAMPLE OF IT”……………..F26
Empowering the Iraqi economy: growth through strategic investments and banking excellence
1/30/2024 Baghdad
Cihan University – Dohuk held the “Third Annual Economic Forum”, in the presence of Zirvan Abdul Mohsen Asaad, President of the University, and a number of experts, economists, bank managers and academic figures.
The forum was held in the Research Center hall, under the slogan “Empowering the Iraqi Economy: Growth through Strategic Investments and Banking Excellence.”
The first session began at eleven o’clock in the afternoon and lasted for two hours, and was moderated by Ahmed Al-Saffar, an academic and former member of the Iraqi parliament.
The first speaker was Abdul Hussein Al-Anbaki, head of the economic advisory office of the Iraqi Prime Minister, who began his speech about the challenges facing development in Iraq.
Al-Anbaki stressed “the necessity of addressing structural imbalances in the economy, pointing out the failure to achieve the goals associated with Article (25), which aims to reform the economy by diversifying sources and supporting the private sector.”
Al-Anbaki referred to the history of the Reconstruction Council and the impact of changes in its allocations on its effectiveness, proposing the establishment of an independent Popular Development Fund to finance government and private projects with soft loans.
He concluded with recommendations for administrative reform before economic reform, reconsidering the management of oil revenues, adjusting the exchange rate of the Iraqi dinar, and canceling the auction. currency, and the legislation of the public-private partnership law.”
The second speaker was Haval Siddiq Ismail, representative of the Minister of Investment in the Kurdistan Region, and Director General of the Investment Authority in Dohuk, who “presented a comprehensive analysis of the investment situation in the region. He provided details about investment projects and successful sectors in attracting investment, with a focus on challenges, opportunities, and policies.”
The government encourages investors. Dr. Haval also highlighted the regulatory and bureaucratic obstacles, and provided a realistic assessment of the difficulties and potential opportunities. Finally, he provided details about the potential opportunities and government policies followed by the Kurdistan Regional Government to facilitate a prosperous investment environment.
The second session started at one o’clock in the afternoon and lasted for two hours, and was moderated by Nawar Al-Saadi, Professor of International Economics and Director of the Research Center at Cihan University.
The second session began with a speech by Muhammad Al-Najjar, Advisor to the Iraqi Prime Minister for Investment, and Executive Director of the Iraq Fund for Development.
In his speech, Al-Najjar shed light on the “Iraq Fund for Development, which was newly established as an independent body reporting to the Prime Minister. Al-Najjar spoke about the Fund’s role in promoting change and diversifying the Iraqi economy. The Fund aims to attract local and international investors to participate in the implementation of various projects.”
One prominent example discussed by Al-Najjar is “the ongoing project to build 1,950 schools across Iraq. These projects will be delivered to private sector investors and the Iraqi investor exclusively, with guarantees such as the return of capital after five years. This approach does not encourage local investment.” “Not only does it ensure the effective participation of the private sector in the reconstruction process in Iraq.”
The fund’s strategy focuses on “different stages of investors, starting from local investors to foreign investors. It emphasizes the involvement of local stakeholders to enhance local ownership in development projects, with an emphasis on handing over projects to the private sector to guarantee a return on capital after a certain period.”
Regarding the second speaker, Ahmed Al-Tabqajli, Chief Strategist at the Iraq Fund at the Asian Development Fund,
Al-Tabjali talked about “strategies for attracting investments to the Iraqi Stock Exchange. The market was characterized by strong performance, as the AFC Fund rose by 110.4% in 2023, making it one of the best funds in the world.” (ONLY BECAUSE OF THE MONETARY REFORM & BANKING RESTRUCTURE OF IRAQ -F26)
Al-Tabjali explained this performance “by the development of new procedures by the Central Bank of Iraq, which led to accelerating reliance on banking services and promoting growth in the non-oil economy. The market was also affected by the relative stability of the country, which created a more stable economic environment and attracted the interest of international investors.”
Al-Tabqajli also pointed to the market’s role in supporting the development of an efficient economy by providing capital to companies, and believes that the development of the Iraqi Stock Exchange contributes to enhancing the gross domestic product and economic stability in the region.
Then, many interactive questions, discussions, and inputs were posed by the attendees, and in conclusion, the forum came out with a set of proposals and recommendations that will be submitted to the relevant authorities. LINK
In the document.. Cancellation of the license of an Iranian bank branch in Iraq, 5 FEB
In the document.. Cancellation of the license of an Iranian bank branch in Iraq
The Central Bank of Iraq decided to cancel the license of an Iranian bank branch in Iraq.
According to a letter to the bank to the Iranian bank, {Euphrates News} received a copy of it that “based on the decision of the Board of Directors of this bank No. (185) of 2023, due to the losses incurred by the bank’s branch in Iraq, the limited activities it exercises, the inability to implement or expand the practice of banking activities, and therefore, there is no useless in continuing to work inside Iraq, in addition to its coverage of international sanctions, it was decided to cancel the license of the branch in Iraq.”
https://alforatnews.iq/news/بالوثيقة-إلغاء%C2%A0رخصة-فرع-مصرف-ايراني-بالعراق
"ANALYSIS OF IRAQ NEWS: “BECAUSE OF A NEW EXCHANGE RATE!!!” BY FRANK26, 5 FEB
“BECAUSE OF A NEW EXCHANGE RATE!!!”………..F26
Planning: The current year will witness an improvement in average per capita income
1/30/2024
Baghdad: The mainstay of the emirate
The Ministry of Planning confirmed that the average per capita income last year amounted to 7-8 million dinars, and that there is a discrepancy in income rates for many segments of society, noting that oil prices contributed to the rise in the average per capita income, which is calculated after dividing the gross product.
On the population, while it is expected that the average per capita income for the current year 2024 will witness a noticeable improvement, especially after the government’s great direction in supporting the social protection program, the ration card, and providing services to citizens.
In a way that confirms an improvement in the national economy, the Ministry of Planning stated that the actions of the government and the Central Bank of Iraq contributed to the decline and stability of inflation indicators and a decline in their rates during the last two years, as the inflation rate was (6 percent) in the year 2021, and decreased in the year 2022 to ( 5 percent) and then in the year 2023 the inflation rate was 4.4, meaning less than 4 and a half percent.”
The official spokesman for the Ministry of Planning, Abdul Zahra Al-Hindawi, said that the average per capita income is extracted and calculated by dividing the volume of revenues or resources that the country obtains by the number of population. Thus, we are talking about a rate or average annual per capita income ranging between 7 to 8 million dinars per capita during the past year 2023, pointing out that this improvement in the level of per capita income came as a result of improved oil sales and increased prices, and thus the country achieved good financial revenues. Al-Hindawi pointed out that The per capita income, which amounts to 7 to 8 million dinars, does not include the entire population, as the individual does not receive the same income or equally. Rather, there is certainly a discrepancy between one group and another and between one segment and another, according to many factors, and that there are segments whose average annual income may be 3 million or five million dinars.
There are segments whose annual income is 10 million dinars, or perhaps their annual income is 20 million dinars annually, indicating that the discrepancy in these numbers comes as a result of the nature of the work and the academic achievement certificate of the individual, who may also work in more than one job, as a result of which his annual income increases or decreases according to these factors, indicating Until the improvement in income rates also depends on the level of services that the individual receives, including water, electricity, sanitation, transportation methods, and other requirements. LINK
