Parliamentary Communications: Korek is slow in repaying its debts amounting to about 800 million dollars
Today, Monday, the Parliamentary Media and Correspondences Advisory group uncovered the size of Korek Interchanges Organization’s obligations, while showing that this organization is slacking in paying its obligations.
Board of trustees part Zuhair Shahid Al-Fatlawi told , “The Korek Cell Phone Organization has abstained from paying its obligations adding up to around 800 million bucks.”
He added, “The organization will not pay the monetary contribution to the Interchanges and Media Commission, taking note of that the Iraqi legal executive committed the organization to pay $800 million to the Iraqi state.”
He brought up that “this organization doesn’t have entirely honest intentions.”
Whether they float or not doesn't matter because at the onset they could if they wanted to come out with a very high exchange rate. But instead they will float because inside of the float they can control the rate with caps...For example they could come out at maybe $3 or $4 right away with controlled caps either way [Iraqi citizens] win and you and I win.
There is an explanation being given to all the people involved in the economic reform by Sudani and Alaq. In this explanation phase the information on the new lower notes and the information on the new exchange rate will be disclosed...
There will now be a slew of press conferences with all of the GOI, Kurdistan Barzani people, the CBI, the [CBI] board of directors, everyone of them standing, planning and supporting the reforms of Sudani...
The value of their currency is determined by the resources tapped and untapped. The futures of Iraq are astronomical. You have no idea, investor of the Iraqi dinar, what you have invested in.
Phosphates...sulfur...diamonds...gold...silver...oil, gas, all the mining companies are lining up and it's all these industries, they are the factors that will drive the dinar up internationally.
You cannot have any restriction on your currency if you belong to the SAP. You cannot be on a program rate. A program rate is a restricted currency is it not? Sure it is...This is a very advanced system...The SAP has the same qualifications as the WTO.
In fact SAP is part of the WTO...The restriction on currencies that the WTO says you cannot have is the same restrictions that SAP says...They run the same program systems.
The main reason why they're going to float the Iraqi dinar is to build confidence in the country of Iraq. A float brings in these investor that Sudani has been signing left and right. These investors will watch the float and as the float increases they will say to themselves, 'Hey, maybe I should invest in this currency.' ...The float is to build confidence in the country and in the currency of Iraq.
On Sunday, the US Ambassador to Baghdad, Elena Romanowski, praised Baghdad’s efforts to make Iraq an attractive environment for foreign investors.
Romanowski said, in her blog post on the “X” platform: “A fruitful meeting with the economic advisors of Prime Minister Muhammad Shiaa Al-Sudani, to discuss increasing international cooperation in modernizing the Iraqi economy, supported by the efforts made by the Prime Minister’s team to make Iraq an attractive environment for foreign investors.”
She added: “Which leads to providing better job opportunities for all Iraqis.”
...the IQD must be put back on FOREX for Iraq to progress to the desired goals as they themselves proclaim they want to accomplish...know that progress is moving along and much more quickly now...Oh…just wait until Iraq gets back on FOREX…WOW, things are really going to explode.
Can you see just how close Iraq is to fulling Al-Sudani’s promise of making the dinar a proud national currency once again. Also remember too that he did say it “was” valued over a dollar already...
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.
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.
In what they have already accomplished just in the last 16 months, it would be silly to turn back now. Amazing progress in such a short period of time compared to 30 years.
They have come further than ever before. I say this not for hype or for the sake of being overzealous. Instead, I stick to the FACTS of what the news has been telling us recently and what my CBI contact has been telling us...Iraq has kicked the proverbial can down the road long enough and it is time...time to go global...Iraq will not survive unless they do something BIG with their currency soon and I mean very soon!