Are the reserves of the Central Bank of Iraq in danger?, 20 JUNE

 Are the reserves of the Central Bank of Iraq in danger?

2024-06-18 06:34

Experts’ statements revealed a decline in the value of the foreign reserves of the Central Bank of Iraq by 2.4%, while gold reserves increased by 16%.

Monetary reserves of foreign currencies are an extremely important issue for the economies of any country to confront challenges and crises and to ensure the stability of national economies, especially for developing countries.

However, some do not see their decline as a problem.

Rather, countries are not working to develop them, or rather they do not have reliable reserves, but It has diversified economies and local production constitutes an important proportion of its national income and thus compensates for the decline in its cash reserves.

Iraq worked at various times to increase the cash reserves of the Central Bank and had a large reserve referred to by the countries of the world, estimated at $36 billion, which strengthened the strength of its economy at that time before the war with neighboring Iran, but the war consumed it and it emerged with exhausting debts and an economy that was difficult to bear its burdens and complete devastation. ..

But after the overthrow of the regime, the rise in oil prices, and the increase in its financial resources, foreign currency reserves grew again and exceeded one hundred billion dollars, and declined again, according to press statements, albeit by small percentages until now.

It is said that the intention is to withdraw from it in larger quantities, and it was stated that the official reserves of the Central Bank of Iraq It decreased by 2.4% in the fifth month of the current year compared to the end of 2023, bringing the value of official reserves down from 147 trillion dinars in 2023 to reach 143 trillion at the end of the fifth month of the current year.

If the reserve in the previous time was known to have been spent on the war, then the government did not explain where the money was spent in the present situation?

A question that must be answered transparently, and it is the right of people to obtain information and follow up on this money that belongs to them.

On the other hand, the Central Bank’s gold reserves increased by 16% compared to 2023, bringing the value of the gold reserves to 14.3 trillion dinars, up from 2023, when the value of the gold reserves at the end of last year was 12.3 trillion dinars.

This is a good thing, especially the diversity in saving reserves or investing them in something that is productive and maximizes resources in light of the fluctuation of currencies and the risks of keeping them in one type.

It is noted that countries are trying to benefit mainly from this reserve in developing the productive sectors, economic, industrial, agricultural and other branches, that generate income and its growth and for the well-being of their people by building a solid and solid economy that will move them to a better state and lift their citizens out of poverty and backwardness.

shafaq.com

"RV UPDATE" BY MNT GOAT, 20 JUNE

 Mnt Goat 

 ..the “icing on the cake” for today’s news...It’s about the huge ATM installation and testing going on in Iraq. Why is this so important? We were told by the CBI not too long ago the significance of that the ATMs role will play in the Project to Delete the Zeros...its all interconnected...To get petty cash they will need the ATM machines. At this time the petty cash will be set to the newer lower denominations post delete the zeros.

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Q & A

Question from woldopep: MG, Do you believe that there is a chance that we will need to travel abroad from the USA to exchange our 3 zero notes for the new lower denominations. ? Is this a real possibility ? Is it possible that our 3 zero notes will be obsolete after a short period of time ? Thanks, woldopep

Answer Mnt Goat: Guten Tag. This first question is just so ridiculous I hate to address it without calling you a fool. But you may be a newbie and so I will forgive you for it. Since I have answered this second question of obsoleting the dinars also many times, I will refer you to the rest of my Mnt Goat Newsletter blog pages. Hey sweetie, it’s all there!  In particular the Project to Delete the Zeros. Happy reading! 😊

What can we investors do to help the RV situation?

We must now buckle down and pray and pray like never before for the success of Al-Sudani and his agreements with Washington are implemented. 

You do want the RV don’t you? Pray for Iraq and also the U.S. in that there are strong enough representatives in Congress and the Senate who will stand up and continue to fight to uphold the US Constitution and keep fighting this Washington corruption. Pray that that God’s Hand will intervene and save our great country. Remember you can say the Rosary daily or use the prayers and links I provided from the Auxilium Christianorum for your prayers.

 Folks your prayers so far ARE WORKING and God has heard your cries. Just look at all the progress made just since December 2022 when Iraq announced they were finally entirely out of Chapter VII. And now the spigot is wide open the final issues preventing the reinstatement are being dealt with one by one. Can you see it too. I am trying my best to help you see it. We don’t’ need this foolishness of this everyday / any day garbage intel. You think this is all just coincidental? God’s Hand is at work here. 

He has given Iraq his anointed leader Al-Sundani to help in this work. Even I have to sit back in amazement of what he has accomplished so far. Pray for him and all his success. It is June already and this month is proving to be a very significant month again. But my contact in the CBI told me there is a very high probability that we would see the currency swap out in this month of June and so we watch and wait. I will get more news tomorrow when I make my call to Iraq.

https://mntgoatnewsusa.com/latest-mnt-goat-newsletter/

Iraqi Dinar and Vietnam Dong to Float Currency

Parliamentary confirmations that the government will proceed with removing foreign forces from the country, 20 JUNE

 Parliamentary confirmations that the government will proceed with removing foreign forces from the country

6-18-2024

Parliamentary confirmations that the government will proceed with removing foreign forces from the countryInformation / Baghdad..

Member of the Parliamentary Security and Defense Committee, Muhammad Al-Shammari, confirmed on Tuesday that the government is moving forward with ending the presence of all foreign forces, including Turkish forces, from Iraqi territory.

Al-Shammari said in an interview with the Maalouma Agency, “The Prime Minister stressed in more than one forum the removal of foreign forces, led by the Turkish ones, in order to preserve the country’s sovereignty.”

He added, “The presence of these forces constitutes a serious violation of the country’s sovereignty,” noting that “Iraq will move toward activating the issue of removing international coalition forces from Iraq.”

He stressed that “there are assurances from the government to remove foreign forces from Iraq, and it is proceeding with this matter.”

almaalomah.me

"RV UPDATE" BY CLARE, 20 JUNE

 Clare 

 Article: "Iraq is preparing to establish a project that will change the oil map.. Will it affect energy producers?" Quote: "Iraq's budget for the current year 2024 allocated an amount of up to 4.9 billion dollars to establish a pipeline extending from Basra in the far south of Iraq on the waters of the Gulf, to the city of Haditha, located in the far west of Iraq within the Anbar Governorate"

 Article:  "The European Union mission expresses its readiness to cooperate with the Iraqi banking sector”

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Article:   "Kuwait connects its “Fiber” network to Iraq"  Quote:  "Iraq will be a major corridor for passing the network, not only in the Gulf.  But for the countries of East Asia, it will be synonymous with the Egyptian corridor...Iraq has become the focus of attention of countries and major international companies due to the incidents that took place in the Red Sea and the fear of the cessation of communications through this corridor."

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 IN 2023 THERE WAS AN APPEAL ON THE ACTUAL BUDGET... BUT WAS RULED OUT THROUGH THE COURTS. THE TRIPARTE BUDGET WAS LEGALLY PASSED, SENT TO THE PRES. WHO SIGNED IT AND WAS PUBLISHED IN THE GAZETTE. 

 Today's Article Quote:   "I do not think there will be an appeal, and even if there is an appeal, the budget will be spent, because it was voted on and its issue was decided legally."  THERE IS NO APPEAL ON THE BUDGET SCHEDULES THAT WERE JUST PASSED BY PARLIAMENT AND IT WAS NOT NECESSARY TO BE SIGNED BY PRES. BECAUSE THE BUDGET WAS ALREADY PASSED...THE MOJ HAS IT NOW AND WILL PUBLISH WHEN READY.

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 Question:   "Wonder if the budget made it into the Gazette?"  NO IT WAS NOT IN THE GAZETTE TODAY [Saturday].

 Article: "Rudaw publishes the text of the third strategic plan of the Central Bank of Iraq"  Quote: "Regarding the initiatives that the bank linked to the sub-goals, they include the ability to issue medium or long-term securities, move from the platform to the sending banks in making external transfers, increase gold reserves, offer new issues of high-qualitycurrency, automate monetary operations, and support financing..."

Article: "Al-Mandalawi after voting on the budget tables: Parliament will follow up on disbursing the specified financial amounts". 

 The Acting Speaker of the House of Representatives, Mr. Mohsen Al-Mandalawi, congratulated the approval of the federal general budget schedules for the current year, stressing that the presidency made great efforts with the Parliamentary Finance Committee to expedite its completion and vote on it during the current legislative term, due to its importance in terms of its direct connection to the lives of citizens and its relevance. The document includes strategic, investment and service projects.”

 Article: "Parliamentary Finance for Nina: We approved the budget schedules as received from the government, except for the governorate allocations."  

Quote:   "The Parliamentary Finance Committee announced that the schedules of the general budget law will be passed as soon as a quorum is reached in the House of Representatives session scheduled to be held this evening, Monday."

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https://dinarevaluation.blogspot.com/2024/06/rv-update-by-clare-3-june_01957075202.html

iraqi dinar || iqd Dinar Finally CBI Huge Statement Today 2024 / iraqi d...

Iraq tops list of importers of Turkish grains, pulses, and oils, 20 JUNE

Iraq tops list of importers of Turkish grains, pulses, and oils

Shafaq News/ Iraq ranked first among countries receiving Turkish exports of grains, pulses, oilseeds, and related products during the first five months of this year.

Celal Kadooğlu, Chairman of Cereals, Pulses, Oilseeds, and Products Exporters' Association, stated that their exports in the first five months of 2024 increased by 9.2% compared to the same period last year, reaching $1.4 billion.

In a statement, Kadooğlu noted that 51.5% of their exports are to the Middle East and 24.19% to African countries, emphasizing that exports to Iraq, the largest importer of products from the region, surged by 16.2% in the first five months of the year compared to the previous year.