DINAR REVALUATION

Friday, March 22, 2024

Iraq Joins The Membership Of The European Bank For Reconstruction And Development, 22 MARCH

Iraq Joins The Membership Of The European Bank For Reconstruction And Development

local Yesterday, 10:30 Baghdad – INA The Iraqi Fund for External Development in the Ministry of Finance announced today, Wednesday, that the Republic of Iraq has joined the membership of the European Bank for Reconstruction and Development (EBRD) after the House of Representatives approved the accession law.

The Fund said in a statement received by the Iraqi News Agency (INA):

“The Republic of Iraq has joined the membership of the European Bank for Reconstruction and Development (EBRD) after the House of Representatives approved the accession law, which comes within the Ministry’s vision of strengthening frameworks of cooperation and communication between Iraq and institutions.” International Finance, after the Fund’s continuous coordination with the European Bank’s management, the completion of Iraq’s contribution process, and the completion of all documents related to accession.”

He added, "Joining will enable the European Bank to

finance projects within the country,

promote development for various sectors,

support the entrepreneurship initiative, and

support the private sector through investments and

participation in policy dialogue and technical assistance," pointing out that

"the European Bank for Reconstruction and Development (EBRD) is a multi-faceted development bank." Parties, headquartered in London,

the bank focuses on investment as a tool to rebuild market economies in beneficiary countries, with an emphasis on supporting the private sector and its investments in advisory and political activities.

The bank also helps countries develop their policies to promote energy self-sufficiency or renewable energy markets. https://www.ina.iq/205337--.html

"RV UPDATE" BY MILITIAMAN, 22 MARCH

Militia Man

If Al-Sudani says, the dinar hold on to it, it's going too be stronger than the dollar...$0.76 is not stronger than the dollar. Add the real effective exchange rate and you can easily get over a dollar...

Oil is anywhere from $88 to $85 right now. Add in the tax revenues and customs duties and fees at the borders, the tourism you got to see the exchange rate of the Iraqi dinar is not going to be at $0.76. They're going to have to add that real effective exchange rate to it and that's probably...exactly why they haven't exposed it just yet. It's a sensitive issue.

They need to keep it close to the chest... They can't go out and tell everyone on the street, 'Hey you know next week your exchange rate is going to be X.' It doesn't work that way...Eventually they will expose it...

The Fed Has An Ugly Surprise For Markets | Mike McGlone

Iraq joins the World Federation of Free Economic Zones (FEMOZA). , 22 MARCH

Iraq joins the World Federation of Free Economic Zones (FEMOZA). , 22 MARCH

2024-03-21 00:24 Shafaq News/ The Industrial Estates Authority, one of the formations of the Iraqi Ministry of Industry and Minerals, announced on Thursday its joining the World Federation of Free Economic Zones (FEMOZA) in cooperation with the United Nations Industrial Development Organization (UNIDO).

The Director General of the Authority, Hamid Awad Muhammad, explained in a statement that

the Authority is a vital entity charged with advancing industrial cities and their prosperity throughout Iraq, indicating that the

joining came due to the importance of international partnerships in achieving the objectives of the Authority in light of economic changes and the movement of markets, shipping lines, and global land and railway transport, and in order to Interact with it professionally, taking advantage of Iraq's strategic geographical location.

He pointed out that the FEMOZA organization is considered an internationally known union committed to promoting sustainable economic zones and has links with (200) countries in the world.

The Director of the Authority added that this affiliation confirms the objectives of the Industrial Estates Authority in creating an environment conducive to

investment,

innovation and

economic diversification by benefiting from the organization and its global network, as well as

attracting foreign investment to Iraq and

enhancing the Authority’s ability to establish and manage industrial zones that help in sustainable development and international business participation.

Accelerating industrial growth within Iraq by benefiting from the expertise of specialized international organizations. https://shafaq.com/ar/اقتصـاد/العراق-ينضم-لى-ال-تحاد-العالمي-للمناطق-ال-قتصادية-الح-ـرة-FEMOZA

Thursday, March 21, 2024

"RV UPDATE" BY JEFF, 22 MARCH

Jeff

The next big step in this is we want to see when Iraq will be amending their budget...They can amend it before or after the rate changes...

This weekend coming up would be the historical anniversary date of when Kuwait reinstated their currency - March 24, 1991

Iraq technically does not need to amend the budget if they're not changing their rate.

The budget already covers their operating expenses. But they would need surplus funds to cover the reforms. The reforms are contingent upon the rate changing. They can't bring these reform package forward if the rate does not change. The only reason they're amending the budget is because the rate is changing...The step of amending the budget can happen either before or after the rate changes ... They will probably announce Thursday or Friday as to when they plan to amend the budget, which they'll probably do around this weekend...