"NO FEAR FOR 3 YEARS BECAUSE OF A NEW EXCHANGE RATE... PS: LOOK AT THE BOTTOM OF THIS ARTICLE!!! BY FRANK26, 3 MAY

 KTFA

FRANK26:"NO FEAR FOR 3 YEARS BECAUSE OF A NEW EXCHANGE RATE... PS: LOOK AT THE BOTTOM OF THIS ARTICLE!!!"..........F26

Iraqi Business: There are no financial fears in Iraq for three years, and fear regarding the development path is unjustified

 

4/30/2024

  

 The head of the Iraqi National Business Council, Daoud Abd Zayer, confirmed that there have been no financial fears in Iraq for three years, while he considered the fear of development “unjustified.”
 

Abdel Zayer said, during his hosting of the program {Free Speech} broadcast on Al-Furat satellite channel this evening, that: “
Iraq is at the forefront of the first stages in the fourth place in terms of growth among the Arab countries. It indicates that Iraq has increased its revenues from oil exports and there are figures for development, which is an indicator that Iraq is in a stage of growth.” Higher than neighboring Arab countries, and it is reflected in the financial performance of development investments.
- The government’s management of investing money in the right place, which is positive and has real meanings and implications. - Development and infrastructure projects and the Al-Faw port

. I indicated that Iraq is in a higher stage of growth than neighboring Arab countries
Energy during the previous six-month season maintained its level and is expected to stabilize until the end of this year - Expectations for a decline in oil prices will not exceed 5%, and this will not affect Iraq’s revenues, and there are no financial concerns for the next 3
years over the life of the budget

Overcoming the consequences of the sharp decline in energy prices.
External borrowing comes to complete projects parallel to repaying loans, and delaying the disbursement process confuses part of the development scene, especially with regard to development project receivables.
-Oil is exposed to the political situation at the regional level, in addition to supply and demand, as well as the winter and summer seasons.
-Iraq was operating a primitive banking system until 2023, when the government worked with the Central Bank of Iraq to implement external transfers through the electronic platform and ended the issue of manipulation of the exchange rate.
-The improvement in the price of the Iraqi dinar will eliminate the parallel market.
Gold is considered a safe haven for investment in the world in anticipation of the collapse of any approved global currency and its rise as a result of a political crisis at the world level, which affected everyone and now it has begun to decline in small percentages and is considered the ideal solution for investment.
- Real estate in Iraq usually rises at the interest rate approved by loans and is dependent on monetary policy.
The development road will add economic value to the country on an economic, political and geographical basis and will be the optimal regional road for international trade. Any justification for challenging this project is unjustified and some people’s fear of it has no realistic value.
-The Ministry of Oil has not been serious since 2013 in investing in natural gas through licensing contracts.

Wafaa Al-Fatlawi

LINK

"RV UPDATE" BY MNT GOAT, 2 MAY

 MNT GOAT

We know this problems of sanctioning the banks is holding back the final push of the reinstatement. Part of the solution, as they tell in an article entitled “A FIXED OR FIXED EXCHANGE SYSTEM FOR THE IRAQI DINAR” helps us understand the solution better. Please, please go read this article as it explains in very good detail why the reinstatement of the dinar is stalled,  what the problem is and what is the part of the solution (which I believe they are about to implement). Again, it gives us the issue and also the suggested solution. But I believe at this point it is much more than a suggestion. WOW, WOW, WOW.

Now at least you can understand the issue as to the hold up by the US Treasury and the problem in implementing a solution. Again, I will tell you that the reinstatement plan of 2011 tells us they intend to repeg the dinar and get off the de facto peg to the sole dollar and move to a new peg of a basket currencies. Sounds to me like they are getting ready to do it and are in the last phases of discussion. So, what comes out in an article this period?

An article is telling us exactly what I have been telling you all along. Folks they are educating the public about the old de facto peg they are now on to the new peg they intend to use in this article. Go read the article! Enough said…. Didn’t they just tell us last week in an article that to execute the Project to Delete the Zeros needed an educational process first?

https://dinarevaluation.blogspot.com/2024/05/about-recent-news-of-iraq-part-1-by-mnt.html

Iraqi Dinar Guru News Highlights (5/2/24)

Al-Sudani directs to take new measures regarding the electronic payment system in Iraq, 3 MAY

 Al-Sudani directs to take new measures regarding the electronic payment system in Iraq, 2 MAY

Shafaq News/ A government source said, today, Thursday, that Prime Minister Muhammad Shiaa Al-Sudani directed several executive measures related to the electronic payment system and electronic points of sale (POS).

According to the source in his statement to Shafaq News Agency, this directive aims to enhance the use of electronic payment in Iraq and facilitate and monitor financial and commercial operations carried out through this system.

The source summarized the most important main measures that Al-Sudani directed, which are as follows:

1- Determine the tax wages that can be paid in cash in the amount of (500 thousand dinars) and what is more than that is settled via electronic payment.

2- Forming a joint committee between the Central Bank of Iraq, the Communications and Media Commission, and representatives of the private sector who are specialists in this field, which will do the following:

A- Proposing mechanisms to reduce fees for telephone messages related to electronic payment operations.

B- Coordination with the National Cybersecurity Committee and providing it with the risks that it indicates for the purpose of addressing them by the relevant sectoral authorities.

3- Instructing the competent authorities, including the General Directorate of Organized Crime in the Ministry of Interior and the National Security Service, to take their role regarding the observed violations and fraudulent operations regarding electronic payment operations.

4- Instructing the concerned authorities not to renew the license of educational and medical institutions, hotels, restaurants, and all other professions except after presenting the contract for using electronic payment to those authorities.

5- Assigning the Central Bank of Iraq to set specific standards to be used in government departments and institutions to activate electronic payment operations. Through those standards, the Federal Integrity Commission can monitor and measure the work of government departments in a manner consistent with those standards, and is accompanied by organizing training workshops on those standards between the Integrity Commission and the bank. Iraqi Central Bank.

6- Instructing the relevant authorities, including government institutions, private sector institutions, and banks, to increase the number of electronic payment devices and other self-services, which contributes to the development of electronic payment services in the country.

7- Assigning the Central Bank to formulate a proposal with the minimum requirements that are available in contracts for electronic wallets.

9- Forming a joint work team between the General Authority for Taxes, the National Security Service, and the Ministry of Interior/General Directorate for ombating Organized Crime, which will undertake the task of conducting inspection tours of various commercial areas to ensure the provision of trade names, tax identification, and electronic payment points.

In October 2023, the Iraqi Council of Ministers issued several executive measures related to the electronic payment system and electronic points of sale (POS), and said at the time in a statement that they “aim to enhance the use of electronic payment in Iraq and facilitate financial and commercial operations.”

shafaq.com

"IRAQ BOOTS ON THE GROUND REPORT" BY FIREFLY, 3 MAY

  Frank26  

 [Iraq boots-on-the-ground report] 

  FIREFLY: Some guy on television talking about advantages that we as Iraqi citizens are going to have with a fixed exchange rate pegged to a stronger currency.  He says Iraq now has a soft peg and...the float is not necessarily as a fixed rate... 

FRANK:  The monetary reform education is explaining the reason why you don't need a basket...They are also expressing you don't need a float.  That's because your reserves are so powerful...But IMO the float will occur because it needs to reach the real effective exchange rate of your currency on an International level.  

They are also trying to explain to you you do not need to be pegged to any currency, not even the dollar.

 FIREFLY: Saleh is saying the start of implementation of the government and banking reforms has started. 

 FRANK: Woohoo! ...The new exchange rate is the pivotal role they are about to give them...    

CBI salary conclusion

Washington announces its position on the possibility of postponing the elections of the Kurdistan Parliament, 3 MAY

Washington announces its position on the possibility of postponing the elections of the Kurdistan Parliament

The US State Department confirmed that it “does not oppose” the postponement of the elections of the parliament of the Kurdistan Region “for a short period if this agreement requires it.”

“We recognize that the Independent High Commission for Iraqi Elections needs some time to make the changes they are negotiating” political parties, the US State Department spokesman said Wednesday, on postponing the Kurdistan Parliament elections.
“We believe that reaching an agreement between the political parties is important, and if this agreement requires the postponement of elections for a short time, the United States is not opposed to that,” he added.
Although next June 10 is scheduled for the Kurdistan Parliament elections, the KDP refuses to participate in them under the current conditions and “without ensuring the participation of other components” after the Federal Supreme Court’s decision to cancel the quota seats.
The President of the Kurdistan Region, Nichirvan Barzani, discussed the issue of elections, during his visit to Baghdad on April 27, 28 and 29.
According to the spokesman of the presidency of Kurdistan, Delshad Chehab, Barzani stressed during his meeting with Prime Minister Mohammed Shia Al-Sudani, the importance of having equal opportunities for all parties and parties to participate in the elections in accordance with the constitution and the laws in force in Iraq.
During his reception, the Chairman of the Board of Commissioners of the Independent High Electoral Commission, Omar Ahmed, Al-Sudani also stressed “the importance of holding elections under a political consensus, the participation of all community components from the Iraqi spectrum in the region, and ensuring the achievement of the principle of justice and equality in the implementation of this entitlement.”

https://alforatnews.iq/news/واشنطن-تعلن-موقفها-من-احتمالية-تأجيل-انتخابات-برلمان-كردستان