...another article came out from the CBI telling us about yet another step in the RV/Reinstatement process is about to be implemented...The reinstatement is coming and I firmly believe from what we now know we are about to witness the major part of the Banking Reforms that everything else was geared up to support over the past 10 years.
Iraq is now slowly getting out of the sanctioned mindset / banking practices and return to common international banking practices of how they will be doing business with the rest of the world. Yet more evidence of it this period of news in March.
Iraq's Accession To The European Bank For Reconstruction And Development
Economy | 12:13 - 03/20/2024 Mawazine News – Baghdad The Iraqi Fund for External Development in the Ministry of Finance announced on 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 Finance Ministry said in a statement, received by Mawazine News, that this comes within the Ministry’s vision to strengthen cooperation and communication frameworks between Iraq and international financial institutions, and after the Fund’s continuous coordination with the management of the European Bank, the completion of Iraq’s contribution process, and the completion of all documents related to accession.
The Fund confirmed, according to the Finance Statement, that accession will enable the European Bank to finance projects within the country, promote development of various sectors, support the entrepreneurship initiative, and support the private sector through investments and participation in policy dialogue and technical assistance.
The statement indicated that the European Bank for Reconstruction and Development (EBRD) is a multilateral development bank headquartered in London, and 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.
According to the Iraqi Finance Ministry, this bank helps countries develop their policies to promote self-sufficiency in energy or renewable energy markets. https://www.mawazin.net/Details.aspx?jimare=244232
[via PDK] Question: ...what is your gut saying about the street rate on the VND when all this goes? MarkZ:
My gut still thinks it will be in the $2-$2.50 range. But nobody knows until we get there. [On the dinar] I was told to expect between $3.33 to $4.81. Somewhere in that range.
Still progress in Iraq…From articles …they are fixing the exchange rate or getting the street rate the same as the official rate. De-dollarization is going well... Iraq joined the European Bank for Reconstruction and development (EBRD). This is more confirmation that they are dotting their I’s and crossing their t’s.
We have been told that Tier4b (us, the Internet Group) Exchanges would start
before next Sun. 24 March.
On Fri. 22 11 am EST President Trump will make two major announcements on all forms of Social Media and maybe one major network, perhaps on CNN.
That’s the trigger to release the emails to Bond Holders and Tier4b.
Tier4b should be able to exchange within three hours of that.
The General Public is supposed to start on Tues. 2 April 2024.
On Thurs. 21 March HSBC, Treasury, Wells Fargo, Redemption Centers and Banks were told we would have access to over 1% of our funds for a time, and then access to all of it.
Everyone gets access to funds within 24 hours of each other.
Some Super Whales were funded out two months ago. Other Whales were finishing up being notified and funded right now. None have access to their funds yet.
Wells Fargo was the lead bank in the US, HSBC was the lead bank internationally.
Parliament Finance: The Central Bank Will Move To Support Banks Through This Mechanism
Money and business Economy News – Baghdad Today, Wednesday, the Parliamentary Finance Committee revealed the Central Bank’s intention to support banks through loans, while indicating that the Ministry of Labor has opened the platform for applying for small project loans.
The representative of the committee, Mustafa Al-Karawi, said in an interview followed by Al-Eqtisad News: “The committee, during its hosting of the governor of the Central Bank, called for support for banks, especially in the issue of loans,” indicating that “the governor of the central bank promised the committee to launch loans, especially the Real Estate Bank, to support the construction movement.”
He added, "Loans for small projects will be through the Ministry of Labor, which in turn has opened a platform to provide unregistered people who have not benefited from previous loans in order to support projects, with the value of the loan reaching 50 million dinars."
