Some other guru says, 'Oh, they're waiting for Article VIII.' Man, when you hear someone say that you got to run as far away from them as possible. Article VIII is ancient history. It's older than mythology ...They've been in Article VIII for over a year and a half. Catch up.
Community comment: "Please explain there's no chance of a LOP."
Anybody that thinks this is a LOP you have to run away from them...they have no idea what they are talking about. A LOP adds zeros to the exchange rate. An RV and RI removes zeros.
Sudani is going to be sharing with the Iraqi citizens soon. I still hold to what I told you, they want to put screens up. I know I have been mocked about it and laughed at about it. But everything I say I'm mocked at and laughed at until a few days or a few weeks later, there it is...I believe Sudani is waiting for those screens to be put up.
FRANK26: "SHOULDER TO SHOULDER WITH FOOTBALL PADS ON"..............F26
The regional government sends non-oil revenues to Baghdad
4/24/2024
The Kurdistan Regional Government announced, on Wednesday, that non-oil revenues would be sent to the account of the Federal Ministry of Finance.
A statement stated that the Kurdistan Regional Council of Ministers held its regular weekly meeting, headed by Prime Minister Masrour Barzani, and discussed a number of important files on the agenda.
In the first paragraph of the meeting’s agenda, the Minister of Finance and Economy presented a report on the steps taken by the ministry regarding the region’s salaries for the month of April, noting that the official audited and approved salary lists for this month were sent to the Federal Ministry of Finance during the past few days, and it included all the information. Necessary. The minister expected that salaries would be sent through the same mechanism that was followed last month, similar to the salaries of employees in the rest of Iraq.
In the context of his report, which he prepared in conjunction with the negotiating delegation, the Minister of Finance and Economy presented a set of mechanisms through which the obligations of the regional government regarding non-oil revenues can be implemented, as well as how these revenues can be shared with the federal government. The Council of Ministers directed the Ministry of Finance and Economy and the negotiating delegation to transfer the federal public treasury’s share of non-oil revenues generated in the region to the account of the Federal Ministry of Finance, in accordance with applicable federal laws.
Regarding the issue of localization of the region’s salaries, the Council of Ministers considered this issue important, and stressed that the Kurdistan Regional Government is not and has never been against nationalization, and the region has already begun, for a long time, the process of localizing the salaries of litigants within the framework of the (My Bank Account) project, based on what was stated in Ministerial formation work programme.
The Council of Ministers stressed that discussions with the federal government are focused on the Emiratisation mechanism, and not on the essence of the Emiratisation process itself, and therefore addressing the issue requires finding a common understanding that is in the interest of salary recipients, and ensuring that the process is completed easily and smoothly through banks approved and approved by the Central Bank. Confirming that the (My Account) project met all the conditions and requirements of the Central Bank of Iraq.
People are still asking about the deletion of the zeros. They want to know how that's going to change the exchange rate...April 28, 2011 Article "Iraq plans to change currency: Three zeros will be removed from IQD" Quote: "The Iraq government plans to chop three zeros off the national currency. It should make transactions easier and enhance the exchange rate...the government announced they were close to completing plans for a re-denomination
."
I told you guys it's called a re- denomination, a lop, the removal of the zeros, the deletion of the zeros, reducing the zeros, it's all the same thing. Quote: "Three zeros would be removed from Iraq's currency...and old bank notes will gradually be phased out. For example this would make the IQD 1000 note into IQD 1 note..." This is taking it from 25,000 dinar to 25...25000 dinar times the current exchange rate .00076 = $19. When we do the deletion of the zeros, the zeros are gone. 25 dinar x .76 = $19...This is deletion of the zeros. This is lopping of the currency...
The Iraqi Central Bank Sold More Than $270 Million At Auction Today
Economy News – Baghdad Today, Thursday, the Central Bank of Iraq's dollar sales amounted to more than $270 million in the currency auction.
In its auction today, the Central Bank sold 270 million, 897 thousand and 422 dollars, which it covered at a base exchange rate of 1,305 dinars per dollar for documentary credits and international settlements for electronic cards, at a price of 1,310 dinars per dollar for external transfers, and at a price of 1,310 dinars per dollar in cash.
Most of the dollar sales went to strengthen balances abroad in the form of transfers and credits, which amounted to 264 million 37 thousand and 422 dollars, an increase of 97% over cash sales amounting to 6 million and 860 thousand dollars.
The number of banks that purchased cash dollars reached 6 banks, while the number of banks that responded to requests to enhance balances abroad reached 14 banks, and the total number of exchange and brokerage companies participating in the auction was 58 companies.