Information / Baghdad.. Member of the Parliamentary Finance Committee, Muhammad Nouri, warned on Monday of the impact of the continued rise in the dollar exchange rate on the poor and middle classes.
Nouri told Al-Maalouma, “The reasons for the rise in the price of the dollar are due to misconduct and the monopoly policy practiced by some parties, as well as smuggling, without the government having any realistic solutions to control this issue.”
He added, “The attempts of the government and the Central Bank to solve the problem of the fluctuation of the dollar’s rise are still timid, as the dollar’s exchange rate is still recording a significant increase compared to the official price, and this rise would increase poverty rates in Iraq.”
Article: "Data from the Central Bank of iraq show a decrease in the amount of printed currency by 1.2 trillion dinars between the months of November and December 2023 while indicating this decrease in the amount of currency is the 3rd largest decrease recorded in 20 years..."
Very good news, IQD decreasing. Wow.
The RV will not happen if no one declares the end of the war...we still on war. In December 2021 they took troops out... but they never declared the end of the war...and they never took out the international coalition.
For everything to happen they have to declare the end of the war. The international coalition have to be out of there. The soldiers of United States have to be out of there. Of course they're going to bases in Iraq but they're going to keep friendly bases in Iraq...not for war...I don't think Biden is going to do it.
Revealing A Movement To List Government Bonds In The Markets
Economy | 02/26/2024 Mawazine News – Baghdad The Iraqi Securities Commission highlighted, on Monday, the importance of government bonds, noting that they provide financial liquidity for investment projects, while revealing the existence of a movement from the Central Bank to list government bonds in the markets.
The Chairman of the Authority, Faisal Al-Haims, said in a statement to Mawazine News, “Three issues of government bonds were issued, as the first and second issues were launched, and now there is the third issue.”
He pointed out that “there are requests from the Central Bank of Iraq to list these bonds in the market,” noting that “those bonds are debt securities owed by the Iraqi government, in exchange for interest given to the owner of this bond.”
Al-Haims explained, “This measure will provide financial liquidity for the investment projects launched by the Prime Minister and his government,” suggesting that they “will be crowned with goodness and success for the Iraqis.”
Government bonds are a type of debt-based investment, where you lend money to the government in exchange for an agreed interest rate. Governments use them to raise money that can be spent on infrastructure or new projects, and investors can use them to obtain set returns, paid at regular intervals. https://www.mawazin.net/Details.aspx?jimare=242771
FRANK: The GOI and the CBI came out and told you Iraqi citizens they are forming a committee to reprice your products in the markets...We told you once you see them start to do this repricing of items inside of Iraq's markets to get excited. IMO this is the precursor to your new exchange rate...things are very exciting right now. Your bank friend will be talking to you very soon.
FIREFLY: The entire city is uncomfortable and upset knowing the HCL is still not dealt with, knowing this is a key for us citizens. Today they [parliament] all walked out. They can't agree on the bill and they said we don't know when or if ever we will pass it. FRANK: That's a bunch of bull Ka-Ka. What do you mean you don't know when you're going to pass it. No one needs you to pass it!
FIREFLY: TV says the Baghdad dollar will see a huge drop beginning of week, however the exchange rate is stable? We don't know what it means.
FRANK: What is a Baghdad dollar? It's the United States Dollar in Baghdad....That's the drop of the US dollar in the parallel market...Which means they'll try to get to 1 to 1...I'm not telling next we're going to have our blessing. I'm telling that next week they're going to do what they're saying.
FIREFLY:Sudani talked about going to Washington DC to meet and get all oil reserves and assets from oil held in U.S. Treasury. FRANK: Dang! Like they don't have enough money! Wow!
FIREFLY: Al Suandi is on TV news Channel One saying the best and the only way to improve the electronic payment system is the CBI should remove the three zeros, print the new currency and give us a one month period to exchange our currency. This will show the power of the dinar over the dollar ...He also said this will get rid of citizen holding cash and any smugglers and money laundering.
FRANK: ...That's what they're about to introduce to you, your new exchange rate to match your lower notes...the lower notes will only work with a new exchange rate. I can't believe they keep saying this to you constantly every day...You are within arms reach ...One month...I believe they'll give you longer than that. Outside with us it should also be a longer time to exchange...
FIREFLY: A guy comes on TV and he talks to us about how the end of the Untied Nations mission official has removed all sanctions from Iraq...
FIREFLY: So far we are not seeing the lower notes but they talk to us about them every day.They just talk to us about them and why we'll need them.
FRANK: They are talking to you about the lower notes and coins because they are about to show them to you next week or the week after. I believe your bank friend will show you something in the sense of pictures...Take as many pictures as you can.
FIREFLY: A representative from the CBI is talking to us in great detail about the new coins they will be giving us with the new currency notes...He said to us once again, the process to delete the zeros is in the process.
It made us smile. He said this process is occurring because the lower notes will not be needed if the rate wasn't increasing.He said if the CBI didn't come out with these lower notes the monetary reforms would be a disaster. He said that's why we need a change in our rate...