DINAR REVALUATION

Tuesday, May 21, 2024

Iraqi Dinar Guru News Highlights (5/21/24)

Government Spokesman: This year and the coming will witness progress on important projects that affect the lives of citizens, 21 MAY

Government Spokesman: This year and the coming will witness progress on important projects that affect the lives of citizens

The official spokesman for the Iraqi government, Bassem Al-Awadi, announced today, Monday, that the current and next year will witness the movement of important projects that affect the lives of the citizen.

Al-Awadi said in a televised statement: “The Iraqi government has tended to reduce debts and reduce the deficit in the upcoming budget, indicating that the government has tended to maximize non-oil revenues to more than 18 trillion, adding that the government has tended to grant guarantees and guarantees for vital projects that revive the economy.”

Al-Awadi stressed, “Our institutions are able to compensate the United Nations mission and our cooperation continues with the organizations.” link

"RV UPDATE" BY PIMPY, 21 MAY

Pimpy

Article: "A reading in the fiscal and monetary policies of the IMF report - May 2024"

This is not good, mostly because they rely so much on oil revenues and they need to develop the private sector more...Yes Iraq is taking huge leaps and bounds but...there's a lot of things that still have to be done.

Article: "Floating the Iraqi dinar. A solution to fill a 'gap' whose volatile price against the dollar "

If the Iraq dinar floats and for whatever reason a lot of people start investing into the currency and it drives the exchange rate up, if it gets anywhere near $0.25 and higher for me, I'm out of there! Seriously, I will sell my currency...

The cool thing about this is there's no talk about a redenomination. So are they actually going to float this currency with the zeros on there and take the risk that sucker is going to jump up really high in the exchange rate?

...Keep an eye on that sucker, watch the exchange rate, if it gets anywhere near where you want to sell it, then jump all over it. I wouldn't procrastinate or gamble with it.

FRANK26….5-21-24……..BOOK…KEEPING

The budget tables are in a final government audit before being sent to Parliament, 21 MAY

The budget tables are in a final government audit before being sent to Parliament

An informed source revealed that the financial budget schedules for the year 2024 are subject to a final government audit before being sent to the House of Representatives.

“The budget tables are now in the legal department of the General Secretariat of the Council of Ministers, and it is hoped that their audit will be completed within the secretariat and then sent to the Parliamentary Finance Committee.”

The source stated, “In the coming days, the Finance Committee will review the budget schedules sent by the government and follow up on their disbursement, and will make some amendments to them if necessary to adapt them to the public need.”

The Council of Ministers voted in an extraordinary session last Sunday on the budget schedules and referred them to the House of Representatives.

Prime Minister Muhammad Shiaa Al-Sudani revealed in a press conference after the session the details of the budget tables and the most prominent contents of them. He said:

Table (A) included revenues totaling (144.336) trillion dinars, and Table (B) concerned the total planned expenditures totaling (210.936) trillion dinars.

- The planned budget deficit amounted to (63.599) trillion dinars, and Table (C) is the centrally funded workforce table, amounting to (4,079,906) employees, and governing expenditures amounted to (10.042) trillion dinars.

- The investment budget for 2024 is (54.298) trillion dinars, and may reach 55 trillion dinars.
- Governorate allocations to local government programs with an investment allocation amounted to (10.633) trillion dinars in 2023, and we financed (3.333) trillion, based on fundamental requests from the governorates.

- The remainder of the allocation (7.333 trillion dinars) is in a trust account, at the disposal of the provincial governments.

- Allocating approximately (8) trillion dinars to ongoing projects, including allocations in 2024.
- For the first time in the history of budgets, we have exceeded spending by 50%.

The increase in debt repayment amounted to 3.9 trillion dinars. In 2023, the debt repayment was 12,751, and in 2024, we repaid 16.725 trillion. link

"QFS CONVERSATIONS" WITH GOLDILOCKS, 21 MAY

GOLDILOCKS

Goldilocks - QFS Conversations ™🌱🧂, [05/21/2024, 8:24:07 a. m. (05/21/2024, 8:28:51 a. m.)]:

"The final elements for the implementation of Basel III in the EU are now agreed and will start applying on the 1st of January 2025."

Currently, we have tokenized assets and stablecoins backed by gold and other commodities moving through legislation and expected to become law at the end of June 2024.

This is forcing governments around the world to begin making decisions to implement their new digital economy. These monetary policy shifts will create credit valuation adjustments across all sectors of the market including Forex .

Countries have began moving towards bilateral trade agreements utilizing their own currencies in trade. This move will increase the demand for their currencies, yet they still need a stable price on them.

This is where stablecoins come into play. Stablecoins are backed by commodities. This alone will support the need to raise the value of currencies around the world to level the playing field in trade.

For the last 4 years, trade has been disrupted and rerouted to increase the level of exports in countries around the world offering support for these new currency values that are about to come into play.

The IMF has been working with countries globally to give guidance and instruction on their countries' ability to shift into a new supply and demand regimen. Work has been done to increase Capital Requirements through commodities and increasing exports.

These measures will support new values and justification for currency valuation adjustments because their credit in the ability of doing so will be met by the above requirements.

We have a deadline for these changes to take full effect by January 1st, 2025. As you can surmise, price pressures to move into a real value between now and then are about to begin.

Look for XRP and XLM to be the first movers in the new digital economy. Their supporting actors will be ISO 20022 digital coins. These ISO tokens will be networks that will move money from one sector of the market to another.

Our movement from wire transfers to instant transfers electronically and through a quantum computer will increase money velocity. This will increase demand and increase the value and support for currencies going to higher levels.

Just holding ISO tokens and utilizing them in the new economy, with gold backing each of them, will serve as the bridge to our next economy. Commodities will be the next long-term Bull Run.

Our first RV (digital) is about to interface with traditional market assets on the QFS. This will transform our banking system and markets (paper money) into the new digital asset based trading system - the second RV.

https://www.studysmarter.co.uk/explanations/macroeconomics/economics-of-money/money-supply-and-exchange-rate/#:~:text=As%20the%20value%20of%20money,pushes%20the%20exchange%20rate%20down.

https://theprint.in/business/global-trade-growth-is-set-to-double-in-2024-heres-why/2089901/#:~:text=The%20IMF%20also%20predicts%20the,of%20the%20past%20four%20years.&text=Global%20trade%20growth%20is,and%20a%20booming%20US%20economy.

https://itsupplychain.com/are-stablecoins-good-crypto-investments/#:~:text=For%20example%2C%20if%20a%20stablecoin,the%20stablecoin%20will%20also%20decrease.

https://www.investopedia.com/ask/answers/041515/how-does-balance-trade-impact-currency-exchange-rates.asp

https://www.investopedia.com/ask/answers/09/gold-standard.asp

https://www2.deloitte.com/ro/en/pages/risk/articles/the-final-elements-for-the-implementation-of-basel-iii-in-the-eu-are-now-agreed-and-will-start-applying-on-the-1st-of-january-2025.html

FIT21 Gets House Vote, Will Crypto Stay a Partisan Issue | CCN.com

https://www.ccn.com/news/crypto/fit21-house-vote-crypto-partisan-issue-define-maxine-waters-legacy/