DINAR REVALUATION

Wednesday, April 17, 2024

Parliamentary Finance Calls for ‘Dinar to Be Confined to the State’, 18 APRIL

Parliamentary Finance Calls for ‘Dinar to Be Confined to the State’

Shafaq News / The Parliamentary Finance Committee on Wednesday pointed out the problem of the lack of cash “Iraqi dinar,” calling for “confining the dinar to the hands of the state.”

Committee member Hussein Mounis told Shafaq News, “The House of Representatives voted on the tripartite budget law and required the government to send the tables for approval,” noting that “the delay in sending the tables to parliament did not affect the operational budget.”

He pointed out that “there is no specific date for approving budget schedules in the Council of Ministers and sending them to the House of Representatives,” pointing to “a real problem of the lack of cash (Iraqi dinar).”

He pointed out that “the Parliamentary Finance Committee is working to develop certain ways to process and provide cash and limit it to the country by adopting the electronic card, strengthening the work of banks and putting forward documents to achieve a cash survance in the market.”

“There is no confidence between the banking system and the citizen and the lack of confidence caused the currency (Iraqi dinar) to be stored in the homes of citizens, which caused it to be lost and not available naturally in the market,” Mouninis concluded.

On March 27, 2024, a member of the Parliamentary Finance Committee, Moen Kazmi, said that the Iraqi government raised the total amount of the budget law from 199 trillion dinars to 228 trillion dinars in the 2024 budget.

While a member of the Parliamentary Finance Committee, Mustafa Al-Karawi, said in an interview with Shafaq News Agency on February 27, 2024, that the Minister of Finance Taif Sami informed the members of the committee during its hosting, yesterday, Monday, that the budget law schedules were sent to the House of Representatives.

https://shafaq.com/ar/سیاسة/المالية-النيابية-تدعو-لـ-حصر-الدينار-بيد-الدولة

"RV UPDATE" BY MARKZ, 18 APRIL

MarkZ

[via PDK]

We know Sudani right now is traveling all over the US. We know people are positioning …and everything coming together is to me – very important. I originally thought Sudani was going to do it before he came to the US….but now that I know the bond schedules - it makes more sense to me that they do it when he gets back to Iraq, I cannot imagine him not wanting to be in country for it.

...The group leaders I know Are under a “blackout” and will not share. I think this is a very good sign. ... We need at least a third to a half of historic bonds paid before we go. So my logical mind is saying the 22nd is the soonest we could see something. I could be wrong and it could absolutely go anytime…even in the next 2 minutes and it would not surprise me.

"RV UPDATE" BY PAULETTE, 19 APRIL

Paulette

Article: "Al-Ardawi: The Sudanese government seeks to liberalize the Iraqi dinar and stabilize the economy" Quote: "The visit comes in a very heated situation and everyone is awaiting its outcomes, and the Sudanese carries...ideas and projects that move towards consolidating the relationship with the American side and transferring it from the process of guardianship to friendship...In a way that allows Iraq to assume its pivotal role in the region." As I have been stating...Iraq needs the US Guardianship to end!! (UN 1483)

Article quote: "Two Iraqi and American sources said that Prime Minister Muhammad Shiaa Al-Sudani will spend a week in the United States, including discussions with President Joe Biden, and a tour of 3 states." Will one State be Florida???? Mar-a-Lago???

IMO UN resolution 1483 will have to be lifted to allow Iraq to be totally sovereign as it established the US and UK as "occupying forces"...This is in essence "Guardianship" or "Receivership"...Absent the lifting, the US has to give Iraq permission to do most anything Internationally including "currency reinstatement"...I am hopeful that internal control of the money structure is exclusively in the hands of the CBI so they can at least move to the RD/RV stage of their monetary reform...If not, the upcoming US visit of Sudani may very well be pivotal... Saleh...recently stated he was unsure of the status of 1483 according to news articles...

This is clearly what the article said... They are weighing changing the rate from 1,320 dinars per dollar to 1.32 dinars per dollar. This is clearly 76 cents to 1 IQD...Currently the rate is 1,320 IQD to 1 USD. Looking it at the other way, this is 0.0007575 USD to 1 IQD. If they drop 1 zero from the exchange rate: 132.0 IQD to 1 USD or 0.007575 USD to 1 IQD. If they drop 2 zeros: 13.2 IQD to 1 USD or 0.07575 USD to 1 IQD. If they drop 3 zeros: 1.32 IQD to 1 USD or .7575 USD to 1 IQD. Therefore, 1.32 IQD to 1 USD is 76 cents to each IQD

...What we want to see posted on the CBI website as to how many IQD are required to purchase 1 USD is 1.00 or less. If they post 3.22 IQD to 1 USD, this would mean 31 cents per 1 IQD.

We want them to post .31 IQD to 1 USD which is then 3.22 USD to 1 IQD. Realize, they post how many IQD it takes to purchase 1 of another currency.

https://dinarevaluation.blogspot.com/2024/03/rv-update-by-paulette-14-march.html

Community Comment: "...The rate doesn't matter but "freedom of movement of capital" is important. That is Article 8 compliance." They cannot be Article 8 compliant if the country is functioning under a MCP. A MCP [Multiple Currency Practices] includes a parallel rate of greater than 2% of the official rate by IMF definition. Saleh said last year that the parallel rate is "REQUIRED" to be 2% or less of the official rate...This 2% or less needs to be maintained for a period of 90 days. The parallel rate is still around 14% difference.

Question: "I thought they met all the requirements [to join the WTO]?" All the articles say they have legislation that needs to be passed and the next meeting is in the "middle of the year.

Question: "When is Iraq supposed to be in the WTO?" Not before they pass needed legislation, eliminate the MCP [Multiple Currency Practices] and are recognized as having accepted IMF Article 8 obligations. Accession Committee next meeting with Iraq is planned for the "middle of the year".

https://dinarevaluation.blogspot.com/2024/03/rv-update-by-paulette-11-march.html

Iraqi Dinar Revaluation Confirm By IMF Global Outlook 🔥Iraqi Dinar RV La...

Returning Halbousi as parliament president. The frame supports and progress confirms: there is no substitute for it, 17 APRIL

Returning Halbousi as parliament president. The frame supports and progress confirms: there is no substitute for it

Shafaq News / The forward party confirmed, on Wednesday, that there is a possibility for its leader Mohammed Al-Halbousi to return to the presidency of the House of Representatives, while revealing that this idea was put forward by parties within the coordination framework.

“So far, there is no development regarding the election of a new speaker of the House of Representatives, nor do we believe that there is an alternative to Halbousi so far, and the return of Halbousi to his post is possible and there is a legal and political possibility to achieve this matter,” the party’s leader Mohamed Al-Alawi told Shafaq News.

Al-Alawi added, “The idea of the return of Halbousi to the presidency of the House of Representatives was raised by some parties to the coordination framework and the return is through legal and judicial frameworks.”

He continued: “If the Halbousi does not return, we do not think there is an alternative that he will be from him and we expect that the position of Speaker of Parliament will continue to remain vacant until the next parliamentary elections, everyone is aware of the difficulty of electing any replacement during the coming period.”

The Sunni political house is witnessing fierce competition over the succession of Mohammed Al-Halbousi, whose membership was abolished from the House of Representatives by a judicial ruling, while his party “Progress” insists on retaining the position, considering that it has a parliamentary majority within the Sunni component (43 seats), at a time when his opponents of “sovereignty, determination, and decisiveness” see the position as a share of the component without adhering to a certain political title.

The Sunni house is seeking to quickly resolve the position of Speaker of the House of Representatives, which was supposed to take place after the first session of the parliament that followed the exit of Halbousi, so that there is a new working mechanism of the council and the resolution of projects and laws that are broken in this regard, “but the accelerating events and the entry of the Federal Court on the line disrupted the selection.

The Iraqi Council of Representatives has failed several times to choose a president to succeed Mohammed Al-Halbousi, who is excluded from the position by a decision of the Federal Court, which ordered the termination of his membership.

Since the termination of Halbousi’s membership in the House of Representatives, the House has held several sessions, but the issue has not been raised in those sessions because the heads of the political blocs did not agree on the replacement candidate.

https://shafaq.com/ar/سیاسة/عادة-الحلبوسي-ر-يسا-للبرلمان-ال-طار-يدعم-وتقدم-ي-كد-لا-بديل-عنه

"RV UPDATE" BY MNT GOAT, 17 APRIL

Mnt Goat

I was told by my CBI contact that the currency swap out will happen as they will not hide this event and must inform the citizens (education process...). Yes, they also have to explain the exchange swap-out process and how it will work along with descriptions of the newer lower denominations.

The CBI will then post those pictures of the lower denominations my contact told me were taken weeks ago. So, just wait and watch it all play out...You should be excited...with FACTUAL knowledge...

Article: "IRAQ’S FINANCIAL REVENUES EXCEED 11 TRILLION DINARS (about 11 Billion US Dollars) WITHIN A MONTH" Yes, even in a “rentier” oil economy the Iraqi dinar can still maintain a realistic rate of at least $3 or more...