Thursday, May 16, 2024
"THE MONETARY REFORM OF IRAQ ALSO RECEIVES A STRONG RATING!!!". BY FRANK26, 16 MAY
KTFA
FRANK26: "THE MONETARY REFORM OF IRAQ ALSO RECEIVES A STRONG RATING!!!".......F26
The National Bank of Iraq receives a strong credit rating from Capital Intelligence
Baghdad
The global credit rating agency, Capital Intelligence, has affirmed its credit rating for the National Bank of Iraq for long-term and short-term foreign currencies (FCRs), maintaining the bank’s basic financial strength rating at (bb) with a stable outlook.
"RV UPDATE" BY SANDY INGRAM, 16 MAY
Sandy Ingram
It is hard to believe Iraq did not have certain banking capabilities until now...We understand why my ex-husband a retired banker with the Federal Reserve Bank and his peers believed the dinar would not revalue. It appears until Iraq updated its banking system the country could not participate in the global financial platforms...The bankers in the US never explained the reasons for their negative attitude towards the Iraqi dinar.
The IQD was not convertible to other currencies on global markets before the 2003 invasion...Rates, which were $3.21 IQD to 1 US dollar in July 2003 means little if the currency is not exchangeable on global markets...People with education in economics say the Iraqi currency will be readily available for exchange in US banks...The question then becomes -
How long will it take US banks to recognize the currency after the initial increase in Iraq? Oh, you believe it will all happen on the same day?
We would hope so, however this is unlikely... Savvy investors may have to travel for the exchange rate ...If Iraq says the IQD is worth 1 USD to Iraqi dinar will you wait for the United States to say the same thing or will you travel to a bank that says the Iraqi dinar value equals $1? ... We hope the naysayer are right and we can all walk into our banks in the United States and exchange our IQD bank notes for US dollars
https://dinarevaluation.blogspot.com/2024/05/rv-update-by-sandy-ingram-13-may.html
The World Bank is working with the Iraqi Finance Minister to implement banking reform as quickly as possible...things are happening fast.
Shocking documents from Iraq's Federal Board of Supreme Audit have uncovered a massive corruption scheme. Over 151,000 citizens were involved in the illicit buying of US currency...[They] obtained dollars at the official state rate for travel purposes but never left the country. The black market refers to them as "ghost travelers".
[We] are thinking the Iraqis sold the dollars for more money than they invested. As a result of the corruption Iraq's Central Bank employees, private banks, currency exchange companies and tourism firms were all involved. This is a $600 million corruption scam involving the US dollar...
When in Washington, DC he [Al-Sudani] met with the chair of the governing board of the JP Morgan Development Finance Institution (DFI), Daniel Zelikow. Prime Minister Al-Sudani received Mr. Jamie Dimon, the CEO of JPMorgan Chase, and his accompanying delegation on Wednesday during his visit...In Davos, Iraqi Prim Minister al-Sudani with Mr. Khaled Haballah, the regional CEO of JPMorgan Chase for the Middle East and North Africa...
Al-Sudani met with the Iraqi community in Washington DC and other American states on the sidelines of his official visit to the United States. Al-Sudani conveyed gratitude to the Iraqi communities in the US and throughout the world, emphasizing that Iraq is for all Iraqis and that the country needs the knowledge, experiences, opportunities and initiatives of Iraqis in the U.S.
The prime minister indicated the Iraqi government is working on establishing a department for expatriate affairs to be able to communicate effectively with the Iraqi community around the world...
On April 15th President Joe Biden will hold Prime Minister Al-Sudani of Iraq at the White House. This meeting is a crucial opportunity for the United States and Iraq to discuss common priorities and strengthen their bilateral partnership.
https://dinarevaluation.blogspot.com/2024/04/rv-update-by-sandy-ingram-17-april.html
Al-Sudani met with the Iraqi community in Washington DC and other American states on the sidelines of his official visit to the United States. Al-Sudani conveyed gratitude to the Iraqi communities in the US and throughout the world, emphasizing that Iraq is for all Iraqis and that the country needs the knowledge, experiences, opportunities and initiatives of Iraqis in the U.S.
The prime minister indicated the Iraqi government is working on establishing a department for expatriate affairs to be able to communicate effectively with the Iraqi community around the world...
On April 15th President Joe Biden will hold Prime Minister Al-Sudani of Iraq at the White House. This meeting is a crucial opportunity for the United States and Iraq to discuss common priorities and strengthen their bilateral partnership.
https://dinarevaluation.blogspot.com/2024/04/rv-update-by-sandy-ingram-17-april.html
"IRAQ HAS A TIMES SQUARE JUST LIKE NYC !!!" BY FRANK26, 16 MAY
KTFA
FRANK26: "IRAQ HAS A TIMES SQUARE JUST LIKE NYC !!!"...........F26
International Development opens a new branch in Times Square in Basra
5/15/2024
The International Development Bank announced the opening of a new branch in the Times Square Center in Basra Governorate, confirming its adoption of a new strategy to enhance banking services and stimulate investment in southern Iraq.
He said in a statement received by Shafaq News Agency, “The first day of yesterday (May 13), the International Development Bank opened its second branch in Basra Governorate, in Times Square Mall, to provide its banking services to citizens and businessmen in this vital region of southern Iraq.”
He stated that this opening comes within the bank's strategy to expand and modernize its effective network of branches, with the aim of providing high-quality and convenient banking services to customers.
The bank's authorized director, Saad Faiq, said that this branch will be an important tributary to economic development in Basra and will enhance investment and growth opportunities in the region.
LINK
Iraq repays IMF loans in full, 16 MAY
Iraq repays IMF loans in full
Mawazine News – Baghdad
The Advisor to the Prime Minister for Financial Affairs, Mazhar Muhammad Salih, announced today, Thursday, the repayment of International Monetary Fund loans to Iraq since 2003, and while he indicated that their total did not exceed 8 billion dollars, he confirmed that they had been repaid in full.
Saleh said, according to the official agency, “Since 2003, the International Monetary Fund has provided several loans to Iraq that were aimed at supporting macroeconomic stability and implementing financial reforms. Between the years 2003 and 2021, Iraq obtained several financing programs from the International Monetary Fund, including loans.” Emergency and relatively long-term financial assistance.
He added, “In the first years after 2003, the Fund provided significant support to Iraq through various programs, including the SBA Credit Readiness Program and the Rapid Financing Instrument. For example, in 2016, the International Monetary Fund approved an SBA Credit Readiness Program worth 5.34 Billions of dollars to support economic reforms in Iraq, and Iraq received two-thirds of the above amount, and it was paid in full within five years.”
Saleh continued, “In 2021, Iraq requested an emergency loan worth $6 billion from the International Monetary Fund, and it appears that the loan was not materialized because it was not linked to one of the Fund’s programs at the time,” noting that “methods of cooperation with the International Monetary Fund have been targeted to support government reforms.” And confronting the economic crises that resulted from the decline in oil prices, which were linked to fluctuations in the balance of payments and its effects on economic activity.”
He stated, “Since 2003, the value of loans and financial aid granted by the International Monetary Fund to Iraq has amounted to several billion dollars, and their total does not exceed 7 to 8 billion dollars, and they have been fully repaid, with a focus when granting loans on implementing programs linked to supporting macroeconomic stability and implementing reforms.” necessary finances.
https://mawazin.net/Details.aspx?jimare=248117
TIDBIT FROM FRANK26, 13 NOV
Frank26 The monetary reform policy is being introduced to you Iraqi citizens on a daily basis isn't it. It's is my hope. It ...
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Bank appointment for Currency EXCHANGE Instructions/Checklist Bank Name_________________________________________ Bank 800#____________...
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Walkingstick All these meetings that the CBI had with all these agencies that were helping them with their monetary reform are done. Al...
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JENTEL RV UPDATE RV NEWS- AA Uriel Payments are being received. They started yesterday in other countries. To meet today's requireme...