The Ministerial Council For The Economy Decides To Support The Independence Of The Central Bank In Formulating Monetary Policy, 11 JUNE

 The Ministerial Council For The Economy Decides To Support The Independence Of The Central Bank In Formulating Monetary Policy

Economy News – Baghdad  On Monday, the Ministerial Council for the Economy took several decisions, including supporting the independence of the Central Bank of Iraq and approving recommendations regarding the import of vehicles.

The media office of the Ministerial Council for the Economy stated, in a statement seen by Al-Iqtisad News, that “Deputy Prime Minister, Minister of Foreign Affairs, and Chairman of the Ministerial Council for the Economy, Fouad Hussein, chaired the seventeenth session of the Ministerial Council for the Economy, in the presence of the Deputy Prime Minister, Minister of Planning, and Ministers of Industry.”

 Labor and Social Affairs, the Secretary-General of the Council of Ministers, the Governor of the Central Bank of Iraq, the Prime Minister’s advisors for economic and legal affairs, and the Chairman of the Securities Commission.”

He added, "The Council discussed the items on its agenda and took the necessary decisions regarding them, and hosted the President and Vice President of the Financial Supervision Bureau and the Director-General of the Legal Department in the Bureau to study and evaluate partnership contracts between the public and private sectors and demonstrate the economic feasibility of their continuation or termination."

He pointed out that "the head of the Bureau reviewed these contracts, which were divided between important contracts that benefit the state budget and contracts that lacked economic feasibility, and the Council decided to complete the discussions in the presence of representatives of the relevant ministries in order to resolve this important file."

The Council decided, according to the statement, “to approve the recommendations of the committee formed to study the adoption of Iraqi, Gulf, or higher specifications when importing vehicles in order to preserve the lives and safety of citizens and users of vehicles and roads.”

The Council discussed, “Determining the contribution of foreign capital to Iraqi banks, and in line with the state’s general policy in supporting the Iraqi and foreign banking sector and foreign investments in Iraq,” deciding to “support the independence of the Central Bank of Iraq in formulating monetary policy in accordance with its applicable laws and instructions.”

He hosted, “The Technical Undersecretary of the Ministry of Environment to discuss supporting the Ministry’s projects related to implementing the government program and removing obstacles that hinder its implementation.”  06/10/2024 - https://economy-news.net/content.php?id=44194

JUDY NOTES, 11 JUNE

 JUDY NOTES

Apparent Timeline:

• As of Thurs. 30 May 2024 any US State could legally obtain their own gold backed currency and bypass the Federal Reserve.
• As of Sat. 1 June 2024 International World Trade was using the new Iraqi Dinar Rate in the trade of international goods.
• On Mon. Evening 3 June 2024 the Iraqi Parliament finally passed their budget with the new Iraqi Dinar International Rate in it.
• On Tues. 4 June large bondholder paymasters were in Reno to begin exchanging their bond portfolios over the next 24 to 48 hour window. 
• On Wed. 5 June 2024 the shotgun was fired, authorizing liquidity of the bond payments of CMKX that opened the RV/GCR; the General of Brazil authorized release of funds to Brazil and San Paulo started to release funds. The Iraqi Parliament sent the budget with the new Iraqi Dinar Rate in it to the Gazette to be published.
• On Thurs. 6 June 2024 the Chinese Elders authorized start of the payment process for Tier4b (Us, the Internet Group). The International Beneficiary Commission authorized some in Tier4b to receive notification. Brazil began sending out notification and setting exchange appointments. A group in Zurich and another group in Brazil went liquid. The BRICS Alliance began Summit meetings in Russia.
• On Fri. 7 June 2024 the US Government ran out of money and declared 63 banks insolvent according to Janet Yellen. Bonds started becoming liquid.
• On Sat. 8 June 2024 Nesara Gesara and authorization came through for the liberation of funds was announced in Mexico. https://t.me/GESARAShow
• On Sun. 9 June 2024 the White House was lit up in gold. Saudi Arabia dropped the USD and ended the Petrodollar. It was the Beginning of the End – the collapse of the Global Financial System. Market Crash Imminent. RV funds for Bond Holders and Tier4b were moving into their positions for payout. 
• On Tues. or Wed. 11, 12 June 2024 a Worldwide Economic Collapse was expected to begin.
• On Sat. 15 June 15 any bank not Basel 3 compliant would be closed.

FRANK26……6-10-24……..SUDANI…..YOUR TURN

International Monetary: We Support Iraqi Reforms That Keep The Oil Market Away From Crises, 11 JUNE

 International Monetary: We Support Iraqi Reforms That Keep The Oil Market Away From Crises

Economy  Monday, June 10, 2024 10:05 AM  Follow-up/National News Center  The head of the International Monetary Fund mission in Iraq, Ghazi Shubaikat, said that the Fund supports Iraqi reforms that achieve financial sustainability, keeping Iraq away from any crises affecting the oil market, which Iraq relies on to cover its annual expenses, anticipating growth in the Iraqi economy during the coming years.

*What Does The Fund Expect For The Future Of The Iraqi Economy?

- The Fund expects growth in the Iraqi macroeconomy, in conjunction with the reforms adopted by the government with the aim of creating realistic solutions to all economic problems, and we sensed seriousness from the Iraqi government in the field of achieving economic reforms that strengthen the relationship with the Fund, and this encourages the strengthening of cooperation in a way that serves the Iraqi economy, which He suffers from chronic problems.

*How Does The Fund Support The Iraqi Economy And What Is The Support?

The International Monetary Fund supports Iraqi reforms that achieve financial sustainability, keeping Iraq away from any crises facing the oil market, which Iraq relies on to cover its annual expenses, especially since a country like Iraq needs large revenues to cover the needs of all sectors, and this needs to create Real financial sustainability through reviving the productive and service sectors and bringing the capital cycle into a local context.

*What Do You Advise Regarding Reducing Unemployment Rates?

Iraq must focus on the labor market and create advantages in the private sector equivalent to what it obtains in the public sector, so that employment can be directed to the private sector, which must be activated within limits commensurate with Iraq's economic capabilities .

*What Does The Iraqi Labor Market Need?

- It is necessary to work on training and qualifying human resources in all specializations in light of the presence of human wealth that can be employed in a way that serves Iraq, with the need to create skilled labor in all sectors and in a way that is consistent with the government’s reform policy.

*In Your Opinion, Where Are The Strengths In The Economy?

- The private sector represents an economic force that can overcome challenges and gradually advance the national economy. It addresses many problems, especially since Iraq can achieve a diversity of revenues from sectors, some of which are distinguished by achieving sustainable revenues.

*What About The Financial Sector?

Competitiveness in the financial sector can create a sound financial sector with advanced services and safe and transparent money paths that support the economy and the stages of development it seeks and works to achieve and reaches the most important goals of financial sustainability. https://nnciraq.com/257087/

"RV UPDATE" BY MARKZ & ANON, 11 JUNE

 MARKZ

• Mon. 10 June 2024 MarkZ: “Many of my Bond people are expecting payment Tues or Wed. 11,12 June. Most sources say we will go within three days of when the Bonds go.”
• ----
• IRAQ NEWS ANALYSIS BY MARKZ

 “The United Nations development program has issued a 49 page report on investment opportunities in line with Iraq’s sustainable goals”  These are things to develop a very robust Iraq economy.  

 “The  UN sees progress in Iraq’s anti corruption  efforts and lists recommendations..”   The UN seems pretty happy with all the efforts you have made Iraq …here’s you “atta boy”...This is actually important to see all the sanctions going away and Iraq being free and clear to change values on the world stage.

 ... Sudani signed a cooperation agreement  with the trade bank of Iraq and the German export credit corporation.  If everybody thought nothing was going to happen in Iraq -then they would not be signing these extremely high level deals. You are watching them become a major player on the international stage. 

 I found this one encouraging. One of the things they are going to need to be taken seriously on the world stage is the value of their currency. Vietnam is also running into that problem right now. They need to revalue up.

...there is contention as to whether the president has signed it [the budget] yet or not...And attempts by Maliki to delay things. Don’t panic- they are not allowing a delay and will push forward with the printing of the budget…and execution. Maybe we will see the printed budget by Saturday now...I’m still hearing positive things for the 7th through the 9th.

https://dinarevaluation.blogspot.com/2024/06/rv-update-by-markz-7-june.html

ANON

• Sun. 9 June 2024 Anon: “We learned from our call this afternoon that the PM of Iraq has announced that Iraq has revalued their currency and the rate is over $4.00. 
• 
  
• We expect to be at the bank by Mon. or Tues. – which may be too early because we have to wait 10 days after they announced the HCL (on June 3) according to today’s info. (which would take it to Thurs. 13 June).”

Iraq Dinar-IQD Update-2024 Budget Dispurse-Legally Resolved-CBI- EU-IMF ...

"THE ONLY WAY IS TO RELEASE THE AGREED UPON EXCHANGE RATE!!!" BY FRANK26, 11 JUNE

 KTFA

FRANK26: "THE ONLY WAY IS TO RELEASE THE AGREED UPON EXCHANGE RATE!!!"..........F26

An economist identifies two ways for the dollar to approach the official Iraqi price

6/9/2024

Economic affairs researcher, Mahmoud Dagher, said that the decline in the exchange rates of the dollar against the dinar is currently temporary, while he identified two paths to reach the official price.

Dagher said, “The decline in the exchange rates of the dollar against the dinar in Iraq is temporary at the present time.”

He added, “Stabilizing the exchange rate towards the target requires a long time,” adding, “There is no information about sanctions for new banks, but the possibilities are possible.”

Dagher stressed, “The price of the dollar against the Iraqi dinar will reach the official price, once all Iraqi border crossings are controlled and unified fees are imposed. Otherwise, it will be difficult to stabilize the exchange rate.”

LINK