Tuesday, May 28, 2024

‘Best Long Trade Ever’? This Metal Broke Records This Week, What's Next ...

"SUDANI & ALAQ ARE LAUNCHING MANY PARTS OF THE MONETARY REFORM IN THIS SECOND PHASE!!!" BY FRANK26, 28 MAY

KTFA

FRANK26: "SUDANI & ALAQ ARE LAUNCHING MANY PARTS OF THE MONETARY REFORM IN THIS SECOND PHASE!!!"............F26

Launching the activities of the National Bank Lending Strategy 2024-2029

May 25, 2024

His Excellency the Governor of the Central Bank of Iraq, Mr. Ali Mohsen Al-Alaq, launched the National Bank Lending Strategy in Iraq 2024-2029, in the presence of a number of officials and representatives of diplomatic missions and organizations in Iraq, in cooperation with the German Agency for International Cooperation (GIZ).

His Excellency the Governor said in a speech he delivered during the celebration: The lending strategy started from the pivotal role of the banking sector in the financial system, by acting as an intermediary between depositors and borrowers, and through it is achieved to support economic growth, strengthen the business sector and help individuals achieve their needs and ambitions, indicating that bank lending It is the cornerstone of economic activity, driving growth and achieving well-being.

His Excellency added that there is an urgent need today to stimulate and diversify the Iraqi economy, stressing that the Central Bank of Iraq’s housing lending initiatives that it launched through the Real Estate Bank and the Iraqi Housing Fund have reached about (11) trillion dinars.

His Excellency stressed the necessity of expanding the base of financial inclusion in Iraqi society, especially expanding the activities of small and medium-sized companies, which are the backbone of the economy, pointing out that employing the workforce is a matter of interest and focus for the Central Bank and the continuation of its initiatives for small and medium-sized enterprises, which will culminate in the launch of Riyada Bank, supported by By the Central Bank of Iraq and with the contribution of private banks.

He believed that developing and implementing the national lending strategy for the years 2024-2029 requires cooperation between a wide number of relevant parties and a shared interest, to achieve the desired goal.

Central Bank of Iraq

information Office

May 25, 2024

"RV UPDATE" BY MNT GOAT, 28 MAY

Mnt Goat

Samir Al-Nusairi, the Central Bank announced that it will launch the national lending strategy on 5/25/2024, which is a clear announcement of the beginning of the second phase of its banking reform strategy...CBI announces it has completed the first phase of it by...building solid international banking relationships with international banks and correspondent banks. Get ready….

The UN, IMF and World Bank all on one day, Thursday, noted significant progress that Iraq has made in recent years, despite ongoing challenges. The reinstatement spigot has been opened. The direction is now clear.

So, in today’s news we read multiple articles coming out from the CBI and the Iraqi news telling us about yet more “WOW!” news...much of this news is confirming what my CBI contact told me recently so my trust level of my contact increases too. ...In today’s news the CBI is telling us they are moving into the “second phase of banking reforms” ...WOW! WOW! WOW! ...Folks this RV train is moving along rapidly now. It is right in our faces now what they are doing. No more guessing or hoping. The reinstatement spigot is now wide open! ...The reinstatement is coming...Folks, it is now EXPLODING!

https://dinarevaluation.blogspot.com/2024/05/rv-update-by-mnt-goat-23-may.html

In today’s news the CBI is telling us they are moving into the “second phase of banking reforms” ...WOW! WOW! WOW! ...Folks this RV train is moving along rapidly now. It is right in our faces now what they are doing. No more guessing or hoping. The reinstatement spigot is now wide open!...The reinstatement is coming...Folks, it is now EXPLODING!

Folks just remember I am telling you that Iraq already has a value to the dinar way above the 1/6 of a penny. They do not have to develop the private sector to raise the dinar, the economy or...export more products...

https://dinarevaluation.blogspot.com/2024/05/rv-update-by-mnt-goat-22-may_0247460925.htm

Iraqi Dinar Best Rate Today 🔥Iraqi Dinar latest rate update today

IMF praises CBI measures to control inflation, 28 MAY

IMF praises CBI measures to control inflation

Shafaq News/ The International Monetary Fund (IMF) mission praised the Iraqi government's measures, including the monetary policy led by the Central Bank of Iraq in 2024.

The report for the 2024 Article IV Consultation indicated that "the Central Bank of Iraq has taken several measures aimed at stabilizing the national currency and controlling monetary inflation."

"The Central Bank raised the interest rate on monetary policy tools from 4% to 7.5% and increased the banks' mandatory reserve requirements from 15% to 18%. These steps were decisive in reducing the inflationary pressures that Iraq suffered from, and this contributed to creating an environment and a more stable economy." The report mentioned.

Moreover, the report highlighted that "important reforms in the banking sector, such as the gradual increase in bank capital and mergers between small banks, aim to strengthen the banking sector and increase its efficiency and flexibility in the face of economic shocks."

"Iraq has implemented new compliance measures to improve the transparency of cross-border financial transactions by launching an electronic platform that imposes the disclosure of financial beneficiaries, which enhances the integrity of financial transfers in accordance with international banking standards, in addition to the role of the Central Bank of Iraq in expanding Correspondent banking relationships, to facilitate smoother international trade financing operations."

In its previous report on May 16, the team revealed that domestic stability has improved since the formation of the new government in October 2022, enabling the passage of Iraq's first three-year budget, which includes significant fiscal expansion starting in 2023.

The non-oil economy experienced a strong rebound in 2023 after a slowdown in 2022, largely unaffected by the ongoing regional conflict. "Nonetheless, Iraq remains highly vulnerable to oil price fluctuations and private sector activity is hindered by the large state footprint—including as an employer of first resort—corruption, red tape, underdeveloped infrastructure, and poor access to credit."

"RV UPDATE" BY CLARE, 28 MAY

Clare

Article: "In light of the Middle East conflict, the World Bank expects oil prices to exceed $100" Quote: "The bank said in a report published today that a severe price disruption could lead to oil prices exceeding $100 per barrel, which would increase inflation in 2024 by about one percentage point."

Article: "Notice on the Continuation of the National Emergency With Respect to the Stabilization of Iraq"

Quote: "The obstacles to the orderly reconstruction of Iraq, the restoration and maintenance of peace and security in the country, and the development of political, administrative, and economic institutions in Iraq continue to pose an unusual and extraordinary threat to the national security and foreign policy of the United States...I am continuing for 1 year the national emergency with respect to the stabilization of Iraq declared in Executive Order 13303."

Article: "The Central Bank begins the second phase of its banking reform strategy"

Quote: "what will be achieved from the second phase of the banking reform strategy will be reflected in the stability of the exchange rate and the recovery of the Iraqi dinar inevitably"

https://dinarevaluation.blogspot.com/2024/05/rv-update-by-clare-23-may.html

DINAR REVALUATION