Friday, June 21, 2024
Evening News with MarkZ and Dr. Scott Young. 06/20/2024
SUMMARY OF IRAQ NEWS ANALYSIS OF KAPERONI, 21 JUNE
Kaperoni
Question: "What happens now that the auctions are soon to be over?
What does this mean for the Dinar holders out there Kap?" It means monetary policy is changing after 20 years to reflect the economic changes in Iraq. We'll have to wait and see what happens.
---Floating the currency is the best option but only once they have created a diverse economy that is not dependent solely on oil.
...New currencies coming out in Iraq. Not true, the Iraqi dinar is the currency of Iraq. As far as any new smaller denominations, they will be introduced only as needed if and when the value increases and warrants so. There is no significant RV!
--...The dinar to float at well over a dollar. Unlikely, the dinar when it floats will be whatever the current exchange rate is and could rise gradually accordingly.
Community comment: "Today the cbi says there are no new printing of bills"
That is correct. The Central Bank does not randomly print currency unless it's to replace damaged or worn out notes. There is no need for a new currency unless it is warranted. Moving to digital will eventually reduce physical notes.
Question: ----"They have a very largebudget ,without an increase in rate how do they meet the projects that is lined up?"
External expenses are paid in dollars since their primary revenue is dollars. Dinar is used to pay salaries, etc. in country.
CCommunity 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.
The Service Effort Team announces the achievement of advanced completion rates in the Diwaniyah areas, 21 JUNE
The Service Effort Team announces the achievement of advanced completion rates in the Diwaniyah areas
Today, Wednesday, the Help Exertion Group declared accomplishing progressed consummation rates in various regions in Diwaniyah.
“The work of laying waterways and paving the muqarnas in the Al-Amin neighborhood in the governorate is continuing,” the head of the team in the governorate, Mohsen Hamza, stated, noting that “the sewage rehabilitation work in a number of streets in the Al-Amin neighborhood is also continuing.” He went on to say that “the Water Directorate’s work will continue in the Hawalli University area, the Cultural District, Al Hamad Abu Jayesh, and Al Khalifa areas, and good completion rates will also be achieved” and that “Advanced completion rates have been achieved in the neighborhood rehabilitation work.”
SUMMARY OF RV UPDATES & IRAQ NEWS ANALYSIS OF WALKINGSTICK, 21 JUNE
Walkingstick
$4.9 billion for a pipeline in the budget...Didn't you say it was 6.5 billion dinars?
'Yeah.' And you're saying it equals $4.9 billion? 'Yeah.'...
They told the world...6.5 billion IQDs is equivalent to $4.9 billion...6.5 divided by 4.9 it comes out to 1.32 or $0.76...You don't have to think anymore after this...That's billions to billions not trillions to millions. That's a rate change...You're telling the world this.
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Al-Alak: We are constantly reviewing the deletion of dinar zeros and no restrictions on our balances in America, 21 SEPT
Economy News – Baghdad The Central Bank of Iraq reduced its dependence on the US dollar in commercial transactions, according to the Govern...
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Walkingstick All these meetings that the CBI had with all these agencies that were helping them with their monetary reform are done. Al...
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Bank appointment for Currency EXCHANGE Instructions/Checklist Bank Name_________________________________________ Bank 800#____________...
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RayRen98 BANK STAFF RECEIVED "GET READY" MEMOS THIS MORNING, THEY'VE BEEN EXCITED ALL DAY! Nader From The Mid East Y...