Does Fitch's Rating Affect The Government's Only Financial "Arm"? An Expert Explains, 19 MARCH

 Does Fitch's Rating Affect The Government's Only Financial "Arm"? An Expert Explains

Time: 03/18/2024 11:51:13 Read: 1,898 times  {Economic: Al-Furat News} An economic expert reduced the impact of the decision of the international credit rating agency {Fitch}, after it announced the reduction of the credit rating of the Trade Bank of Iraq (TBI) to {CCC+}.

Abdul Rahman Al-Mashhadani told {Al-Furat News} agency, “This classification is not new because it is an old classification, and it has been Iraq’s classification for years, although it is not good, and the Iraqi Trade Bank does not need bank credit because it is the government’s agent and finances government purchases and does not borrow, but rather it is He makes payments to the government, and talking about anything other than that is outside the jurisdiction.”

He added, "The international agency {Fitch} indicates that Iraqi banking institutions do not have complete transparency, and this is an indicator that we have had for years. The most important thing is that whoever is in charge of managing the Iraqi Trade Bank is being replaced on charges of corruption and mismanagement, so the problem is with the internal environment, not the external one, and this is what affects Iraq's classification." ".

Al-Mashhadani stressed, “The Fitch rating did not add anything new and does not affect Iraq.”

The financial advisor to the Prime Minister, Mazhar Muhammad Salih, said in a previous press statement, “Credit ratings are linked to the bank’s ability to obtain credit facilities, and the Trade Bank of Iraq (TBI) deals with full coverage of credits in advance, and therefore its documentary credits and financing of government imports will not be exposed to problems.”

He added, "Iraq is rated (b) negative, which is not a good classification, and no unit can be higher than the country's classification. TBI will remain a semi-central bank due to its large number of correspondents, the strength of its capital, and its high profits."

It is noteworthy that TBI Bank is the only Iraqi bank that has the right to send remittances abroad, due to the debts incurred by the country that prevent sending remittances and operations with the Rasheed and Al-Rafidain banks.   LINK

"CONFIRMED: BRAZIL HAS THE GREEN LIGHT" BY WOLVERINE, 19 MARCH

 Sun. 17 March Wolverine

 My Dearest Chosen Ones, we know the time of our blessing is approaching quickly, but for many, not as quickly as we had hoped, but we can see It IS happening. Right now, let’ set our sights on all we wish to accomplish, on all the goals we know we are going to accomplish.

 And of all things, each of you should be proud that despite all those who gave up, who lost faith, you are still here. The Prize Awaits you! Believe and have Faith! Hello everyone! I have received incredible news coming in today.

 Great News from Brazil who has the green light and that has been confirmed from other sources. Same thing happening in Hong Kong and that is also confirmed.

 It is also happening in other places around the world. However, use discernment, as it is not over “Till the Fat Lady sings,” and I am the Fat Lady!!! As soon the Admiral gives me permission to sing the opera, I will be singing it!! All is looking good according to ALL sources, and they gave me a 100% that it has started!

 Remain in faith and do not be negative. We know this is real or we would not be wasting our time here. Holly has put out great bank stories. We know Reno started as of a few days ago. 

MarkZ talked about a bond holders story who went to a bank and came out with an NDA. Many of my contacts are under NDA and they are not talking. That is all I have for you at the moment. Pray for God to release that opera. The Opera will be in three parts:

 1) A YouTube video put together by a very talented person I know. 

2) Liberation sound of the blowing of trumpets, remember the Charlton Heston movie, “The Ten Commandments,” when the Israelites were being liberated from slavery – there was a great resounding of trumpets! And 

3) finally THE OPERA! That is all I have for now my friends, take care,

 Wolverine. 

(Transcribed by Carpathia)

🔥Iraqi dinar🔥 Congratulations 🔥$3.44 The Rate Set By Central Bank of IRA...

Al-Rasheed issues a warning to those wishing to apply for advances and loans, 19 MARCH

Al-Rasheed issues a warning to those wishing to apply for advances and loans

On Monday, Al-Rasheed Bank issued a caution to people seeking to apply for advances and loans.

In a statement obtained by “, the bank’s media warned against dealing with fake offices and pages to promote advances and loans,” indicating that “the bank has no relationship with any external party to promote advances and loans, and we deal directly with the citizen without an intermediary.”

The bank urged all those interested to “visit the bank’s branches or through the electronic application.”

"RV UPDATE" BY MILITIAMAN, 19 MARCH

 Militia Man  

Article: "Parliamentary Finance: The federal budget is in the corridors of the Council of Ministers, and there is no specific date for sending it" 

 Quote:  "On June 12, 2023, the Iraqi Parliament approved the tripartite budget law for the years 2023, 2024, and 2025.  Last year’s total budget amounted to 197 billion dinars, which is the largest in the

country’s history."  Take note that they used 197 Billion Dinars. That is a little over $150 million USD at the current exchange rate of 1,310 IQD... Seriously? I do not think so, unless they have done something we have yet to see.

 Iraq is going to go through that industrial revolution because they're going to rebuild the country.  The evidence is quite clear. The fascinating part about it is we had Al-Sudani/his government say they were going to do the project to delete the zeros...They were going to have the Iraqi dinar be worth 1.32 dinars to the dollar.  That equates to about $0.76. 

 Those folks that talk about a LOP, how do they explain that?  They can't because that's not what it is.

Al Sudani has told the citizens the dinar is going to be stronger.  $0.76 is not stronger however once they delete the zeros then they can apply their Real Effective Exchange Rate.  Totally different ball game.  Totally different circumstances.  Pay attention.  Let's see how this turns out.

----

...If they adjust the exchange rate and delete the zeroes who's going to need the dollar when they apply the new Real Effective Exchange Rate to it?

   Nobody is going to need the dollar because the dinar is going to be stronger than the dollar and that's my opinion.  We are in a situation where ...a political crisis...or surprises could change the exchange rate and that could come within hours...

 Article:  "Economics website: A new application enhances investment movement in Iraq"   

Quote:  “...The new index, called (RSISX Total Return), compares currency exchange rate changes and the returns achieved.”  It is not surprising they have a new RSISX Total Returns index for currency exchange rate changes. With Al-Sudani's government mention of 1.32 dinars to the dollar yesterday and then today we see that there is talk of smaller denominations. Small enough to make change for 250 notes...Put all that with this new index being launched suggests for me, is that they are ready for change to come and not just in the exchange rate but...as in fils...This is another good sign Iraq is opening up to the world in a big way.

https://dinarevaluation.blogspot.com/2024/03/rv-update-by-militiaman-15-march_0298127202.html

Iraqi dinar 🔥Iraqi dinar boosting up quickly 🔥Iraqi dinar rate update

Rejecting Baathism and ISIS…Shiite determinants outline the features of Al-Halbousi’s alternative, 19 MARCH

 Rejecting Baathism and ISIS…Shiite determinants outline the features of Al-Halbousi’s alternative

The Shiite House is the definitive card through which the issue of the Administration of Parliament can be settled, regardless of how seething the contention is inside the Sunni House considering the presence of more than one contender for the Administration of the Place of Delegates, as the Sunni political field is seeing a wild conflict between the different gatherings and a significant clash in which each party looks to He accomplishes triumph over the other to arrive at the place of Speaker of Parliament, when the Shiite House thinks about that the position, in spite of the fact that it is saved for the Sunni part, the possibility for the administration should have specific qualities separated from his help or connection to the departed Baath Party or the psychological oppressor ISIS, which is something he dismissed. In the possibility for the Halbousi Party, Shaalan Al-Karim.

An individual from the Al-Fatah Union, Ali Al-Fatlawi, told , “There is a dire requirement for the mediation of senior forerunners in the political coalitions to stop the contention inside the Sunni House to determine the issue of the administration of Parliament and guarantee the joining of regulative power.”

He added, “The Shiite chiefs try to be a vital aspect for settling contrasts between the different gatherings to guarantee the continuation of the political cycle, away from any contentions that lead to serious issues.”

He brought up that “the Shiite coalitions are looking for a Sunni understanding that would prompt introducing a non-questionable figure to the place of Speaker of Parliament, implying that the figure named for the administration of Parliament should not have any Baathist associations and should not be subsidiary with or steady of the fear monger ISIS, and these two characteristics are available in Shaalan Al-Karim.”

Then again, political expert Sabah Al-Ukaili said in his meeting with that “the discontinuity happening on the Sunni side shows the presence of serious contest between the gatherings, and maybe picking an option in contrast to Al-Halbousi’s article has the lead in the questions inside the Sunni part.”

He added, “The Sunni house is partitioned into equal parts among Progress and the Unmistakable quality Partnership, which framed among Azm and Conclusiveness and the other Sunni political coalitions. Regardless, the Sunni coalitions’ inability to settle on a particular competitor defers the determination of the Speaker of Parliament, and subsequently impacts the Place of Delegates as a regulative and oversight authority.”

He brought up the significance of the mediation of the Shiite coalitions, particularly the coordination system that has effect on the political alliances, to bring perspectives closer between the various gatherings and resolve matters between the Sunni parties.

Then again, the top of the Bayraq Al-Khair Party, Muhammad Othman Al-Khalidi, affirmed to that “the distinctions are practically profound between the political powers because of the demand of the head of the Taqadum Party that the option be from his party, taking into account the biggest Sunni coalition, while it reported assurance and conclusiveness and sway is the person who has the larger part.” ” The continuation of the debate will push agents to gather marks to determine the place of Speaker of the Place of Delegates, particularly from Sunni delegates,” he said, adding that “almost certainly, the emergency of deciding on the Speaker of Parliament will be settled under the vault of Parliament.”