The Sudanese Advisor Details Iraq's Financial Situation And Addresses Exchange Rates, 5 MARCH

 The Sudanese Advisor Details Iraq's Financial Situation And Addresses Exchange Rates

Economy News – Baghdad  Today, Tuesday, the Prime Minister’s Advisor for Financial and Economic Affairs, Mazhar Muhammad Salih, stated the real growth rate in Iraq’s non-oil gross domestic product, while referring to Iraq’s financial situation.

Saleh said, in an interview followed by “Al-Iqtisad News,” that “the basis comes from the strength of the foreign asset reserves that Iraq possesses, which exceed 100 billion dollars, and they are the cover of the national currency, which means that there is complete coverage of the national currency issued in foreign currency, which provides "Ideal stability for the Iraqi dinar exchange rate, in addition to the fact that these foreign reserves embody Iraq's commercial efficiency, as these reserves cover more than 15 commercial months, while the global standard is only three months."

He added, "We must not forget that the surplus in the current account of the balance of payments relative to the gross domestic product also did not fall below (positive 8%), which is a high indicator that reflects the strength of the external sector in the national economy, that is, its stability and growth." 

He pointed out that "the real growth rate in Iraq's non-oil gross domestic product has touched (6%), and it expresses the growing activities of important sectors, most notably the reconstruction, construction and housing movement, and the development of the transport and digital communications sector, and there is a continuing movement in developing the agricultural sector thanks to government support for crops." We expect Iraq’s grain production in the next few months to reach 6 million tons.”

Views 172  03/05/2024 - https://economy-news.net/content.php?id=41130

"ANALYSIS OF IRAQ NEWS: "AND WHAT IS THE RESULT OF THAT... A NEW EXCHANGE RATE TO ADD VALUE TO THE NATIONAL CURRENCY" BY FRANK26, 5 MARCH

 KTFA

FRANK26: "AND WHAT IS THE RESULT OF THAT... A NEW EXCHANGE RATE TO ADD VALUE TO THE NATIONAL CURRENCY"............F26

A government advisor to Al-Ghad Press: Dollar prices in the markets will gradually decline

3/4/2024
 

The financial affairs advisor to the Prime Minister, Mazhar Muhammad Saleh, confirmed today, Monday, that the dollar exchange rates in local markets will gradually decline  . 

Saleh said in an interview with Al-Ghad Press, “The demand for foreign currency to finance Iraq’s foreign trade for the private sector and government trade amounts annually to approximately 60 billion dollars .”

He added, "More than 95% of Iraq's foreign trade is financed through the compliance platform in accordance with international standards, and accordingly goods and merchandise flow into the country through the official exchange rate of 1,320 dinars per dollar ."

He continued, "Foreign trade depends on the parallel market at a rate of 5%," pointing out that "the percentage referred to will not affect the local market, especially after the decline in the general level of prices, which does not exceed 4 percent annually ."

He pointed out that "the current monetary and trade policy will provide a gradual reduction between the official and parallel exchange rates, especially after the banking system adapted to the rules of international trade and the principles of financing foreign trade, all of which began to serve the interest of the stability of the national economy ."

Today, Monday, the capital, Baghdad, witnessed a decline in dollar exchange rates with the closure of the main Kifah and Harithiya stock exchanges in Baghdad, recording 149,850 Iraqi dinars against 100 dollars.

LINK

CLARE: "Dinar and dollar", 6 MARCH

 CLARE:

Dinar and dollar

March 4, 2024

Mohammed Rashid

Most of the crises that accompanied us led to the collapse of our national currency (the dinar) were due to the wars that were forcibly imposed on Iraq by some major powers for many years, and the dollar was the final command that dominated the economic scene and contributed to destroying the value of the Iraqi dinar.

In 1970, a piece of land with an area of ​​(600) square meters in the most prestigious place in our city of architecture was worth (5) thousand dinars, and today the same piece is worth (one billion) and (500) million dinars. This is how playing with the fate of peoples was in order to weaken them and control them. Its human and oil resources.

Today, the economic world is witnessing a qualitative boom in awareness, and very soon it will overthrow the “dollar” and its name will be changed in the coming period to “the dinar” and after a while to “the dollar,” and in the end it will completely lose its value and its printing price will be equal to (a number of cents).

In a televised interview with the ”Iraqi President, Engineer Muhammad Shiaa Al-Sudani””, he uttered a very important phrase (keep the dinar). Today, through my humble vision, I bear witness that the “”Iraqi dinar will return to its lofty economic value””, away from wars and violence, through a new era that imposes its cultural will in the region and the world.

LINK

"QFS CONVERSATIONS" WITH GOLDILOCKS, 5 MARCH

 GOLDILOCKS

"Specifically, the Ministry said, 'We are talking about creating a multilateral digital settlement and payment platform.' However, Sputnik International, one of Russia’s English propaganda networks, went further. It said Finance Minister Anton Siluanov was ready to test digital currencies with China, the Eurasian Economic Union (EAEU) and the Gulf countries."

Another news outlet quoted Siluanov as saying, “The first thing to do is to create a connection to the existing central bank digital currency systems that are already operating in a number of countries. In parallel with this, national financial messaging systems need to be connected.”

Here, we have information with specific guidance on what has to be done in Russia and the BRICS system to see their local currencies onboarded to the new QFS. They give us a direct message in the last sentence of the above article. 

Here it is again separated from the paragraph, "...national financial messaging systems need to be connected." 

Meanwhile, Russia will be testing their new digital currency this year. Remember, Putin is the chair of the BRICS System this year, and many of the currencies we are looking to revalue have already joined this group. BRICS Nations are formulating a digital gold token for trade, this will change everything.

Do you remember ISO 20022 messaging system? It is still important.

Watch the water. 

© Goldilocks 

https://www.ledgerinsights.com/brics-bridge-digital-currency-payments/

https://www.federalreserve.gov/newsevents/pressreleases/other20220627a.htm

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When factoring in currency trades, it is the first currency in a currency pair that represents how much currency is needed to purchase a single unit of the corresponding currency beside it. 

© Goldilocks

https://www.investopedia.com/terms/b/basecurrency.asp#:~:text=A%20base%20currency%20is%20the,currency%20in%20a%20currency%20pair.

Iraq CRUCIAL IMF Report IQD Exchange Rate BY SANDY INGRAM

"WE ARE EXCHANGING IQD/USD NOT USD/IQD" BY FREEDOM FIGHTER REPOSTED BY GOLDILOCKS, 5 MARCH

 FREEDOM FIGHTER

Freedom Fighter ©

A currency pair is the quoting of 2 different currencies, with the currency on the left of the slash  

 ( / ) being exchanged FOR the currency on the right of the slash ( / )

Our exchange will be IQD/USD

AKA we are exchanging 

✅DINAR for USD (IQD/USD)

NOT ❌USD for DINAR

 (USD / IQD )

'"THIS IS SUCH AN IMPORTANT GOLDILOCKS' POST" BY TRUTH WARRIOR VIA BEARDED PATRIOTUSA, 5 MARCH

 TRUTH WARRIOR

🇺🇸💥❤️🇺🇸. This is such an important Goldilocks’ post!  💥💥💥 As the value of Gold, Silver and oil increases, it becomes the basis of stabilizing and creating a firm foundation for the world economies.💥💥💥 It is happening NOW as we watch the back screen rate on the Forex!  🇺🇸💥❤️🇺🇸👇👇👇

"WE HAVE A BACK SCREEN RATE THAT SHOWS MOVEMENT IN THE IQD": "NOW YOU CAN STOP DOUBTING THAT THIS IS REAL" BY GOLDILOCKS, 5 MARCH

GOLDILOCKS

I am aware that we have a back screen rate people have been sharing on the dinar indicating movement in the IQD. It is good to know that there is one. 

Now, you can stop doubting that this is real.

Keep your eyes on gold, silver, and oil to solar sections of the Debt Clock. 

These numbers will be the foundation assets to the new economy, and they are numbers we need to see in order to formulate real values across all market sectors. 

All roads lead to gold, and gold, will set us free. 

© Goldilocks

https://dinarevaluation.blogspot.com/2024/03/we-have-back-screen-rate-that-shows.html