Wednesday, May 29, 2024
"THE CBI DEALS WITH RUMORS ABOUT THE MONETARY REFORM." BY FRANK26, 29 MAY
KTFA
FRANK26: "THE CBI DEALS WITH RUMORS ABOUT THE MONETARY REFORM."........F26
Central Bank: The issuance of new monetary denominations will not affect the dinar exchange rate
5/27/2024
Baghdad
Member of the Board of Directors of the Central Bank of Iraq, Ahmed Barihi, confirmed today, Monday, that the issuance of new cash denominations, large or small, will not affect the dinar exchange rate.
Brehi told Al-Ma’louma, “Issuing rumors on social media sites about the issuance of new monetary denominations aims to create a state of confusion in the Iraqi market.”
He added, “The Central Bank of Iraq is working according to well-studied plans, and there is no intention to issue new currencies in large or small denominations.”
He explained, “If we assume that the central bank issues a new currency, this will not affect the exchange rate of the Iraqi dinar.”
almaalomah.me
"RV UPDATE" BY MARKZ, 30 MAY
MarkZ
[via PDK]
Question: Mark, do you still feel that this has truly started and cannot be stopped?
MarkZ: I absolutely believe this has started and cannot be stopped.
“Futures slide as bond yields spike to a 3 week high”
We are watching an inverted bond market. We are watching the short term bonds out bid and out earn the long term bonds. I was always told this is key to the reset and we are watching it live. This bond market is in shambles.
I was always told to watch for this just before the reset…and to watch for the HCL law to be passed in Iraq. We are now watching them as we approach the finish line.
This article is directly from the CBI “IMF reports it’s consultation with Iraq on Article 7 for 2024”
They want us to know how exceptionally things have gone. How they have changed the reserve requirements and how Iraq has already met the reserve requirements. Iraq’s banks hold 18% reserves. US banks only hold 2%. Banks in Iraq are much safer than US banks. This is part of moving to phase 2 of the white papers and economic reforms. What is also in those reforms is an increase of the purchasing power if the dinar. This shows the clear progress they are making.
"RV UPDATE" BY CLARE, 29 MAY
Clare
Article "The Central Bank of Iraq "denies" issuing a currency in the category of (100) thousand dinars" Quote "The Central Bank of Iraq denies issuing a new currency in the denomination of (100) thousand dinars, indicating that the image of the new currency circulated on social networking sites is a “fake” image bearing the image of the late Iraqi architect Zaha Hadid"
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"
The International Monetary Fund Praises The Monetary Policy Of The Central Bank Of Iraq, 29 MAY
The International Monetary Fund Praises The Monetary Policy Of The Central Bank Of Iraq
Monday, May 27, 2024 2:55 PM Baghdad/National News Center On Monday, the International Monetary Fund praised the monetary policy of the Central Bank of Iraq.
According to the report issued by the International Monetary Fund mission for the current year 2024 for Article 4 consultations, the Iraqi government’s measures will be more severe, including the monetary policy led by the Central Bank of Iraq. The report indicated that
“the Central Bank of Iraq has taken several measures aimed at stabilizing the national currency and controlling monetary inflation.” It added that
“the Central Bank has raised the interest rate on monetary policy tools from 4% to 7.5% and increased the banks’ mandatory reserve requirements from 15% to 18%.” %, and
these steps were decisive in reducing the inflationary pressures that Iraq suffered from, and this contributed to creating a more stable economic environment.”
he report emphasized 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.”
The report noted that “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.”
"NEWS FROM BAGHDAD: " IRAQ OFFICIALLY RATIFIED THE ELECTRONIC PAYMENT SYSTEM ON APRIL 29" FROM GINGER TELEGRAM ROOM, 29 MAY
💢News from Baghdad - Mil 5.28.24
The US ambassador in Baghdad, Alina Romanowski, on Tuesday expressed her admiration for "great news" from Iraq, expecting economic growth supported by a modern financial system in the country.
“Great news!” Romanowski said in a post on the X platform, “Great news! Iraq officially ratified the electronic payment system on April 29.”
“This step will pave the way for a modern financial system and economic growth,” Romanowski added.
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