DINAR REVALUATION

Thursday, March 21, 2024

Iraqi Dinar update for 03/19/24 - The reforms for the budget BY PIMPY

Iraq reduces gasoline imports by half, 21 MARCH

Iraq reduces gasoline imports by half

The ministry’s intention to stop importing gasoline is moving forward within the allotted time frame, as the Petroleum Products Distribution Company stated on Wednesday that the quantity of gasoline imports had dropped by half after the Karbala refinery was put into operation.

“The Ministry of Oil has drawn up a plan within a time limit to end the process of importing petroleum derivatives, especially gasoline,” stated Hussein Talib, general manager of the company. He also mentioned that “after operating the Karbala refinery, the amount of gasoline imported decreased to 7 million liters after Iraq was importing 14 million liters.”

Taleb went on, “Once the North Refinery is operational, gasoline imports will drop to 4 million liters,” adding that “national refineries’ increased production capacity will make up for the remaining gasoline imports.”

Talib made the observation that “after local production reached self-sufficiency, Iraq has ended the issue of importing other products of gas and white oil.”

BANK INTEL BY FIREFLY, 21 MARCH

Frank26

[Iraq boots-on-the-ground report]

FIREFLY:

Bank friend says...Al-Sudani is making an announcement during Ramadan remember ? He'll go to Washington DC but after he comes back I believe that this rate [1.32 dinar to $1.00} with the deletion of the zeros will coincide with the WTO. We are basically in a countdown.

FRANK: ...The final countdown. Let's roll! I think when they finish with Washington DC and they come back, we may see what we're looking for. I am crazy excited your prime minister Al-Sudani and the governor of the CBI Alaq and the board of directors are constantly telling you they're going to give you 1.32 dinars to $1 and a new exchange rate to match it with lower notes...It looks like the next two weeks will be very loud on the monetary reform education.

Be ready to move quick.

Iraqi Dinar Latest Exchange Rate Update Today-Iraqi Dinar News Today 202...

Iraq signs with Siemens to convert burned gas into fuel for electricity within 6 months, 21 MARCH

Iraq signs with Siemens to convert burned gas into fuel for electricity within 6 months

In the German capital, Berlin, the Pastor of Power, Ziad Ali Fadel, consented to a significant arrangement with Siemens Energy Organization, to put resources into related gas and convert it into electrical energy, determined to address the issues of residents in a practical and safe way.

Fadel said in an explanation by the service, a duplicate of which {Al-Furat News} got, that “the understanding comes as a feature of the endeavors of the Iraqi government, headed by Muhammad Shiaa al-Sudani, to end the peculiarity of gas consuming and put it successfully in producing electrical energy, as well as inside the structure of its obligation to the choices of the Paris environment gathering in Safeguarding the climate and giving sustainable power sources.

He made sense of that “the understanding is portrayed by quick execution, as it incorporates effective financial planning around 120 million standard cubic feet (meaqf) of gas inside a brief time of a half year, and an extra 120 (meaqf) inside a time of one year, and the gas delivered will be utilized to lay out An electrical station with a limit of 2000 megawatts, to upgrade the capacities of the electrical organization and guarantee the strength of supply hours.

As far as concerns him, President of Siemens Energy, Christian Bruch, commended the endeavors made by the Iraqi government to defeat the difficulties and obstructions that have confronted the energy area over numerous years, focusing on that Iraq has prevailed during the beyond couple of years in laying out numerous framework projects that will contribute In building genuine abilities for the country’s energy area. ‏

""IRAQ BOOTS ON THE GROUND REPORT" BY FIREFLY, 21 MARCH

Frank26

[Iraq boots-on-the-ground report]

FIREFLY: It's going to float once it gets to 1.32.

FRANK: I disagree because it's already at 1.32. It will float IMO a little higher. The RI will take it to $3.22 IMO. But because it's been 20 years I strongly believe IMO they may cap it around $4.25...The other currencies around the Middle East will not complain if the Iraqi dinar is higher than their rate...

FIREFLY: The funding for all of 2024, last Wednesday was suspended...and it was changed...They must be using the new exchange rate. They said they changed it and then sent it to the Council of Ministers for the review. Then it is to be sent to the House for a vote...It should be going for a vote any time. We think it's going to move to 1.32 making it $0.76 which is not more than the dollar like Sudani promised, until they add the new exchange rate to it. That's what we're expecting.