DINAR REVALUATION

Saturday, March 30, 2024

Jon Dowling A Public Service Announcement on QFS and Weekly Wrap Up

Parliamentary Finance hopes to reach the current year's budget tables before the end of next week, 30 MARCH

Parliamentary Finance hopes to reach the current year's budget tables before the end of next week

Baghdad - Iraq Today: 2024/03/29 10:34

The Parliamentary Finance Committee clarified the most important priority sectors in the 2024 budget, and while expressing its hope to send the budget tables to Parliament next week, it clarified the size of the amounts disbursed by the governorates last year.

The head of the committee, Atwan Al-Atwani, stated that "the Finance Committee and the House of Representatives support the governors, and this was embodied through the necessary financial allocations in the emergency support law and in the 2023 budget, which reached the financial allocation to the governorates with the reconstruction funds of the liberated areas up to 10 trillion," noting that "the number of projects reached about 5,500 projects in all governorates at a total cost of 49 trillion dinars."

He added that "the total spent of the 2023 budget of the 10 trillion is 3 trillion and 300 billion distributed by 1 trillion and 300 billion dinars as completed work arms and 2 trillion and 200 billion to finance projects until the end of 2023," noting that "our recent meeting with the governors came to embody the support of the Finance Committee and the House of Representatives for the governorates to study the obstacles that prevent the completion of these projects."

He stressed that "the Finance Committee is waiting for the budget tables from the government, and we expected the government to vote on them in its last meeting last Tuesday."

He pointed out that "there are two tracks that the budget takes in approving it, which is its approval by planning and financing by the Ministry of Finance," pointing out that "the 2024 budget will focus on the sectors of health, education, electric power and housing according to priority."

He stated that "the mechanism for distributing budget amounts between governorates is through population ratios and poverty," explaining that "in the 2023 budget, specific amounts were added to all governorates, regardless of the criteria adopted by the Ministry of Planning, feeling that the governorates need support and allocate sufficient funds to promote the services sector."

He pointed out that "the tables determine the course of spending and allocation in the budget," pointing out that "the House of Representatives has the right to make transfers between ministries in the budget law."

Al-Atwani expressed his hope that "next week will be the date for sending the budget to the House of Representatives," explaining that "there are some provinces and ministries that stop funding and are waiting for the approval of budget tables."

"RV UPDATE" BY MARKZ, 30 MARCH

MarkZ

[via PDK] I am getting back and forth news from groups. Some say it’s happening now and some say May…. They are really bouncing back and forth.

COMMENT: Sudani is supposed to be in the US on April 15th.

MARKZ: Personally I think Sudani may be here for a “victory lap” after we have already started doing out exchange.

Question: Do we have the green light yet Mark? MarkZ: I think we have the green light. I am looking forward to what the next few days bring.

Bank story: One of our members had a friend go to a bank in N. Carolina yesterday. They had a conversation with a branch manager. They talked about an hour on life, currencies, expectations etc.

The Bank manager said they are absolutely prepared for this. He said he knew a lot of banks were avoiding it but they were preparing for it. He said “We don’t know the timing but it could be at any moment” So they were having a very long conversation with a banker that was clued in, plugged in and prepared...

Vietnam Dong big fall against USD 🔥Vietnam Dong rate update latest

Mandalawy: Achieving security, stability and progress is achieved through complete sovereignty of Iraq, 30 MARCH

Mandalawy: Achieving security, stability and progress is achieved through complete sovereignty of Iraq

The Acting Speaker of the House of Representatives, Mohsen Al-Mandlawi, stressed today, Thursday, that achieving security, stability and progress is achieved through complete sovereignty of Iraq.

"The cadres of Badr were still making sacrifices and striving for Iraq," said Mandalawi, in a speech he delivered on the occasion of the 43rd anniversary of the founding of the Badr organization، The Iraqis stood before many attempts to drag the country into sectarianism, and they responded to the great call of the fatwa of the highest religious authority against terrorism, and victory was the ally of the Iraqis on every occasion".

He added that "Iraq is going through many and great challenges represented by corruption and drugs that ravage our children, as well as achieving security and stability, and these challenges require a spirit of jihad that is supported and shared by Iraqi society".

I drew that " Iraqis are looking for an integrated sovereignty for our country, and this is done by ending the presence of the international coalition in Iraq, and turning to an external relationship based on mutual respect and in the interest of our country، We cannot enjoy stability, security, or progress without the full sovereignty of the country". link

"RV UPDATE" BY MNT GOAT, 30 MARCH

Mnt Goat

Article: "IRAQ IS NINTH IN THE WORLD IN NATURAL RESOURCE RESERVES.."

Quote: "Iraq was ranked among the top ten countries possessing the most valuable natural resource reserves, in terms of total estimated value for the past 3 years." OK, so if this is part of the Basel IV currency valuation algorithm then where is it reflected in the rate of the dinar? Why is it still 1/6 of a penny? Folks is just doesn’t make any sense. The IMF and the US Treasury are artificially suppressing the rate of the dinar. Remember VALUE and RATE are two different items and the value should be reflected honestly in the rate...

Article: "BIDEN TO HOST IRAQI PRIME MINISTER ON APRIL 15: WHITE HOUSE " ...could this visit to Washington talk about the currency reform and getting support for it? Certainly it may and probably will...

President Biden is scheduled to meet with the Iraqi Prime Minister Sudani...and dedicate several days to Iraq and the situation in it, a clear signal of respect for the Prime Minister and Iraq’s political and international standing. Talks I am sure will be mostly about the Status of Forces Agreement.