“From my Brazilian contact: We are waiting for an official order to release funds and payment order. This will happen at any time, please wait…as of today we have nothing official. Things are moving guys. The greatest transfer of wealth has started T1 and T2 have been completed and a very positive Mark Z message today! He’s saying he’s hearing Individual Bond Holders expecting to receive big Payments now! First time I’ve heard him talking about Individuals rather than Groups/ Platforms.”
Thurs. 23 May 2024 Wolverine Here’s a helpful update
My friend has given me permission to share information with you. Remember, she has a relative who is an MP from a Middle Eastern county and he sits on a committee that oversees the timing of the event.
Anonymous Friend
Ginger, I was just informed (by a relative in the Middle East; Ginger is hiding the location for security) that there are 7,000 payers in Tier 3 who are being paid before Tier 4B distribution goes live. This will happen over the next 10 to 14 days.
Deputy Prime Minister and Minister of Planning, Mohammed Ali Tamim, confirmed on Saturday that the Iraqi government has developed an economic vision on borrowing policy.
This came during the speech he delivered during his sponsorship of the celebration of the Central Bank of Iraq, launching the National Strategy for Banking Lending in Iraq, for the period 2024-2029.
The minister congratulated the Central Bank “the launch of this strategy, which was prepared in cooperation with the German Development Agency,” noting that it “is consistent with the directions of the government, and coincides with the completion of the preparation of the five-year development plan for the same period of time, and the legalization of loans.”
He added, “The lending strategy can contribute to increasing credit granted to the private sector by 4% of non-oil GDP, and pay special attention to small, micro and medium enterprises by increasing the credit granted to them by 3% of non-oil GDP.”
“This trend would contribute to financing more projects, giving the private sector a good space to be a real partner in achieving development goals, as well as moving forward to achieve a state of economic diversification, and thus reduce dependence on oil,” the Minister of Planning stressed.
With all things considered, our revaluation could extend to early June, but the point is, it's suspicious for the reasons stated in this widely distributed all of a sudden mysterious source. There is legitimate Intel from literally the horses mouth that June was a best Target month of Dr. Shabibi. The question is why?
Because Dr Shabibi said " the "project to delete the zeros with the rate change should be done at the beginning or middle of Iraqs fiscal year" FOR ACCOUNTING purposes!
That being said, June 2024 is the end of the 2nd quarter of Iraqs financial accounting ledger.
Hang in there everyone, the “END”of this financial saga will soon be at hand, IMO.
🇮🇶The Iraqi Cabinet is set to deliberate and APPROVE the budget law for this year in its upcoming session tomorrow TUESDAY. Mazhar Mohammed Saleh, Financial Advisor to the Prime Minister's office.
Saleh indicated that the budget would be promptly forwarded to Parliament. However, "the deficit percentage in the budget is yet to be finalized."🤥🙄
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.
PM Al-Sudani, Central Bank of Iraq Governor & President Barzani already HAVE the NEW DINAR RATE & are keeping the NEW RATE tight lipped & waiting until last minute (imo).
The last I heard was that Iraq is waiting on our USTN to be announced.
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🇨🇳🇮🇷CHINESE COMPANIES WON BIDS TO EXPLORE FIVE IRAQI OIL AND GAS FIELDS ON SATURDAY IN A LICENSING ROUND FOR HYDROCARBON EXPLORATION THAT WAS PRIMARILY AIMED AT RAMPING UP GAS PRODUCTION FOR DOMESTIC USE.
AN IRAQI KURDISH COMPANY ALSO TOOK TWO OF THE 29 PROJECTS UP FOR GRABS IN THE THREE-DAY LICENSING ROUND ACROSS CENTRAL, SOUTHERN AND WESTERN IRAQ, WHICH FOR THE FIRST TIME INCLUDES AN OFFSHORE EXPLORATION BLOCK IN THE COUNTRY'S ARAB GULF WATERS. REUTERS.COM/BUSINESS/ENERGY/… ...
Oil Minister Hayan Abdul Ghani confirmed on Saturday that the process of investing gas and stopping its burning completely in all fields will be carried out through two stages.
“The investment of all the gas currently being burned has been contracted, but investing gas in its nature needs relatively long periods,” Abdul Ghani said.
He added that “the Ministry of Oil has divided the investment process into two stages: the first is three years, and the second stage is five years to stop the burning of gas completely,” noting that “this gas will be used, and directed towards electricity projects and other industrial projects such as petrochemicals, fertilizers and other projects.”
Earlier this month, the Ministry of Oil launched the fifth supplementary licensing round and the sixth round, for oil and gas fields, in the presence and sponsorship of Prime Minister Mohamed Shia Al-Sudani.
The two licensing tours included 29 projects for oil and gas exploration fields and patches, distributed among 12 Iraqi governorates.
Community Comment: "Hopefully in the next 5 yrs we will see an appreciation of the currency price, based on the last year of progress."I agree! Iraq has an excellent opportunity now to diversify their economy and develop the banking system.
Much of the float articles that we have seen have concerns about speculators that is because they are referencing dealers speculating within the country. That will not happen.
All of these changes that they're talking about pertain to monetary policy. They have nothing to do with the exchange rate. Whether or not the exchange rate goes up or not is directly related to the economic success thereafter.
By the end of the year when the Central Bank of Iraq ends the currency auction, only transfers amongst established Iraqi banks and regional or International banks will occur. In other words, the float of the dinar and transfer of funds will be institutional.
What this means for us is the future of the dinar exchange rate is directly tied to the capital flowing through the CBI, economic growth, and success of Iraq. As Iraq prospers, so will the dinar! Though we may not see the dinar exchange rate improve initially. This is a significant change in monetary policy for the Central Bank of Iraq. Some 20 years in the waiting.