💢 Fascinating data point! Thank God for our Global Family in GLL. You'll see screenshot of the Dinar rate throughout the day. Exact same numbers but some showing comma (,) and another a decimal point (.).
💢From Birgittt: In Germany and Austria we have no comma (,) but (.) when writing numbers.
💢 THIS EXPLAINS why it appeared like a rate change to some. HUGE THANKS family. 😁✅ Well done.
5.6.24
Tomorrow.. Iraqi Cabinet approves 2024 budget schedules
Shafaq News / Financial Advisor Prime Minister Mazhar Mohammed Saleh revealed on Monday new details related to the 2024 lists and budget schedules, which are still under discussion in the Iraqi Cabinet.
During his speech to Shafaq News, Saleh said that the Council of Ministers will likely in a session tomorrow, Tuesday, to discuss and approve the budget law schedules, and then send them to the House of Representatives as soon as possible.
The Sudanese adviser explained that “the percentage of deficit in the budget schedules is unknown, and will be determined according to the schedules that will be approved by the Council of Ministers, before sending them to the House of Representatives.”
According to Law No. 13 of 2023, lists and schedules of the Tripartite General Budget Law should be submitted to the House of Representatives.
In last Tuesday’s session, the Council of Ministers was scheduled to vote on the budget schedules for 2024, and send them to parliament, according to the head of the parliamentary finance committee, Atwan Al-Atwani, but the council did not include this on its agenda.
The statement of Prime Minister Mohamed Shiaa’a’s Sudanese office during last week’s session did not include any details on the 2024 budget schedules.
Last Tuesday, the Acting Speaker of the House of Representatives, Mohsen Al-Mandlawi, agreed last Tuesday, with the Prime Minister, Mohammed Shia Al-Sudani, on the need to complete the schedules of the budget law for 2024, and to expedite their sent to the House of Representatives for the purpose of discussing and voting on them.
https://shafaq.com/ar/اقتصـاد/غدا-مجلس-الوزرا-العراقي-يقر-جداول-موازنة-2024
Pimpy
My personal feeling is they are going to take the zeros off. Do I want Iraq to take the zeros off? No. I would hope they would leave it on and then revalue it with a higher exchange rate. That's what I'm hoping for.
Question: "Will the Vietnam Dong ever RV?"
They have been clearing up a lot of their corruption over there and they are on a huge sweep. It's IMO that they reason why it is where it is as far as value is concerned is because of these corrupt politicians. If you get rid of them, there's a good chance whoever is in office will allow the Vietnam dong to go up in value.
Question: "What do you think would be the ideal exchange rate for the dinar?"
You need something that's right in the middle...1 to 1 exchange rate would be right in that sweet spot. Enough to where they get more purchasing power on their imports but also still be competitive on the market with their exports. I would say 1 to 1 exchange rate would be the perfect location.
Some of the bigger points we see inside the Iraqi dinar community such as, ' Let them reinstate the exchange rate to $3.22 the old rate.' That's not the old rate. That's been a myth for a long time...The $3.22 rate was there but that was not the one they left when it became a devalued currency. It was something like $1.52. The other one [myth] is the hydrocarbon law that once it passes then the Iraq citizens are going to get payments. They're not going to get payments. Read the law, nowhere does it say they're going to get payments.
https://dinarevaluation.blogspot.com/2024/05/rv-update-by-pimpy-3-may_01981486514.html
Wednesday.. The election session of the Speaker of the Iraqi Parliament is heading towards “Issawi”
Shafaq News / Informed sources in the Iraqi capital Baghdad reported on Monday that there is a political agreement between the parliamentary blocs to hold an extraordinary session next Wednesday to elect the Speaker of the House of Representatives.
Several sources, Shafaq News, reported that the majority of political blocs are moving towards supporting the candidate for the alliance of sovereignty MP Salem Al-Issawi to assume the presidency of the council.
The sources pointed out that this agreement came after extensive consultations between political parties and blocs.
Earlier, the three Sunni blocs, “Sovereignty, Determination, National Decision,” decided to nominate MP Salem Matar Al-Issawi for the post of Speaker of the House of Representatives, succeeding former President Mohammed Al-Halbousi, who was deported by judicial decision.
https://shafaq.com/ar/سیاسة/ال-ربعا-جلسة-انتخاب-ر-يس-البرلمان-العراقي-تتجه-نحو-العيساوي
Mnt Goat
Article: IRAQ TALKS ABOUT PRODUCING ONE MILLION LITERS OF GASOLINE DAILY
Quote: “increase refining capacity production rates and improve production in national refineries to reach self-sufficiency and gradually shift to exporting them to global markets..." Well…well…it's about time that Iraq got these refineries up and running. Lots of articles about this effort over the last ten years. Did I hear of another export product here?
I feel we have been in a critical period of the currency reform program since January of last year 2023.
Now we are in a “vital” period. Like a game of chess, we are now in a waiting mode for the Central Bank to make their next move and rollout the second-rate change in-country to just over a dollar, that we were told is coming. Since they told us they now control the parallel “black” market, and that negotiations were successful in lifting sanctions on many Iraqi banks.