TEXAS SNAKE
Not that this is of material value immediately but the banker is indicating those above him are indicting he is within a short window to beginning his scheduling of currency exchange appointments. Will keep you advised as info proceeds.
As had been stated I will be participating in a planning call tomorrow evening, I mentioned this to the banker, his comment was "don't get to excited but you may get filled in on some news should I hear anything from above tomorrow."
PompeyPeter
Yeah, Iraq could come out at 1310 internationally on Forex. A man could land on the sun or pigs could fly. In other words the odds are slightly better than those two scenarios but in the opinion of most people it will not happen.
Here's why: Sudani stated clearly that the dinar was worth more than the dollar and the value of the dinar would be higher than the value of the dollar. That ain't 1310 to $1. Secondly, Sudani said Iraqi's dinar would be the solution to the world's financial and economic problems. Not at 1310 it's not. Three, if they come out at 1310 it's impossible for the tripartite budget to work.
KTFA
FRANK: "KTFA FAMILY... EPS AT ITS BEST FOR THE MONETARY REFORM!!!"..........F26
Central Bank Governor Ali Al-Alaq calls for making private sector collections through electronic payment
3/1/2024
The Governor of the Central Bank of Iraq, Ali Al-Alaq, confirmed today, Friday, the presence of great interest and interaction by Prime Minister Muhammad Shiaa Al-Sudani, urging state institutions to make electronic payments, while noting that the volume of funds collected from state institutions indicates the success of the electronic collection project.
Al-Alaq said, “We are standing on an important station at the national level, which is electronic payment,” indicating that “the issue relates to economic, regulatory, supervisory, and stimulating aspects of investing resources or funds instead of being outside the banking and financial system.”
He pointed out that "electronic collection is an important pillar in activating electronic payment because of the presence of institutions, multiple services, fees and fees, and many services that can save costs, organize and control them through electronic payment methods for which the Central Bank provides the infrastructure and makes it applicable."
He added, "There is an effort at the national level that requires the combined efforts of all institutions, and there is great care, interest, and interaction from the Prime Minister, who is following up with the Central Bank and the concerned authorities to urge ministries and state institutions to interact with this major project."
He stressed that "the numbers mentioned regarding the use of electronic payment indicate that the launch was very successful, and reflect that the issue is moving in the right direction by including all state institutions concerned with collection with the application of electronic payment."
He explained that "the numbers reflected all state institutions and provided electronic collection, and the amount of funds indicates success," expressing his hope that "the scope of application will expand to include all private sectors."
He pointed out that "there is a great response from the federations and concerned private and public economic bodies to advance this large national project and its multiple episodes," stressing that "the Central Bank is working on multiple levels in order to reach important leaps."
Promoting stability: The importance of the assets of the Central Bank of Iraq
Researcher Shatha Khalil*
When reports show that the assets of the Central Bank of Iraq have risen to 207 trillion Iraqi dinars, it is more than just a financial statistic; It symbolizes an enormous store of wealth under the supervision of the central bank. This massive figure reverberates across Iraq’s economic landscape and defines a pivotal role for the central bank in directing the country’s monetary affairs. Let us delve deeper into the implications of this important event and the complex mechanisms underlying the management of these assets.
In the world of central banking, assets include a variety of financial instruments and holdings, ranging from foreign currency reserves to gold reserves, government securities, loans to commercial banks, and a variety of investments. These assets serve as the bedrock of a central bank’s operations, giving it the ability to navigate the ebbs and flows of the economy deftly.
With assets amounting to 207 trillion Iraqi dinars, the Central Bank of Iraq stands as a formidable custodian of wealth, armed with resources that have the potential to stimulate economic stability, regulate the money supply, tame inflationary pressures, and strengthen the Iraqi currency’s exchange rate. Iraqi dinar. Such financial prowess enables the central bank to exercise its influence wisely, intervene in the economy when necessary, and adhere steadfastly to its mandate of promoting monetary stability and stimulating economic growth within Iraq’s borders.
However, behind this veneer of financial strength lies a maze of complexities that govern central bank asset management. One pivotal aspect involves the issuance of cash, a core function of the Central Bank of Iraq. By selling cash to various government and private agencies, the Central Bank drives the wheels of trade, as the Iraqi government emerges as the first buyer of this currency in circulation.
Amid the specter of financial balance, a dilemma looms surrounding the Iraqi government, which is the dissonance between sources of revenues and expenditures. Iraq, which relies mostly on oil, finds itself in a paradoxical trap where US dollar-denominated revenues conflict with expenditures mostly in Iraqi dinars. This contradiction underscores the pivotal role played by the central bank in bridging this financial gap, an achievement achieved through skillful management of foreign currency reserves.
The strategic deployment of excess foreign exchange reserves emerges as a key pillar of the central bank’s arsenal, with investments directed to a full range of low-risk avenues. Gold, deposits in foreign banks with sterling credit ratings, bonds, securities, and deposits in various financial institutions form a bulwark of the central bank’s investment portfolio, which is carefully coordinated to optimize returns while mitigating risks.
Lurking in the maze of investments are potential risks, none of which are more evident than the specter of debt obligations. There is a large segment of the Central Bank’s assets tied to the obligations of the Ministry of Finance, which is unstable and vulnerable to fluctuations in economic fortunes, especially in light of the fluctuation of oil prices.
Moreover, the stability of central bank assets remains beholden not only to economic fluctuations, but also to volatile geopolitical winds. Political imperatives, exemplified by the potential freeze of reserves by foreign central banks amid diplomatic wrangling, are casting a shadow over the haven of financial stability carefully nurtured by the central bank.
These challenges are further exacerbated by the restrictions imposed by geopolitical imperatives, which force the central bank to deal cautiously in its investment projects. Fears of antagonizing Western counterparts prompt a measured approach, restricting investments in institutions associated with American hegemony, albeit with an eye toward global transformations that may herald a seismic departure from this status quo.
Ultimately, the narrative of the CBI’s assets goes beyond mere financial metrics; It embodies an epic of economic management intertwined with geopolitical imperatives. As Iraq grapples with the omnipresent specter of American hegemony and navigates the treacherous currents of global finance, the central bank stands as a bulwark against economic volatility, its assets serving as a linchpin in the nation’s quest for stability and prosperity.
Al-Wahd Al-Eqtisadiah / North America Office,
Rawabet Center for Research and Strategic Studies
rawabetcenter.com
Sandy Ingram
10 weakest currencies in the world: The value of a currency depends on supply and demand while some are pegged, meaning the currency is valued at an agreed rate. The foreign exchange rate is an indicator of a country's economic wealth. #10 The Iraqi dinar - inflation and political instability are the given reasons. #9 Ugandan shilling (USH)... #8 Paraguayan Guarani (PYG)...land locked in South America #7 Guinean Franc (GNF)... #6 Uzbekistani Som (UZS) 1 USD = 12,501 UZS #5 Indonesian Rupiah (IDR) #4 Laotian Kip (LAK)...only land locked country in Southeast Asia. #3 Sierra Leonean Leone (SLL). #2 Vietnam Dong (VND) #1 Iranian Rial (IRR)
US Department of State Website Article: "Secretary Antony J. Blinken and Kurdistan Regional Government Prime Minister Masrour Barzani Before Their Meeting"🚨 DINAR GURU HIGHLIGHTS — BIG SHIFTS UNDERWAY 🚨 The narrative is changing… and this time it’s backed by real institutional movement. 💥 ...
