Militia Man: Saleh who is the prime ministers financial advisor has released several articles on this. I think a managed float is exactly what they are talking about. It’s a form of a fixed…and a form of a float. It’s a component of both...If there was to be growth…imo it would be as conservative as they can
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They will need to keep the rate stable on the dinar. Contractors would not appreciate rate or price changes every day...remember the reinstatement rate 20 years ago of $3.22. Even the IMF has documents stating this was a relevant number. If it came out at that…they would keep the rate in a relevant range.Could it grow from there? It could. And they could adjust that accordingly but would probably keep it pretty tight.
During the Eid holiday. 3 northern governorates receive more than 320,000 tourists
Economy News - Baghdad
During the Eid al-Adha holiday, resorts and tourist areas in the governorates of Erbil, Sulaymaniyah and Halabja received more than 320,000 tourists, while statistics on the number of tourists who went to Dohuk were not yet available.
According to information and statistics from the Directorate of Tourism in Sulaymaniyah province, "more than 120,000 tourists visited the province and its tourist areas, most of whom are citizens of central and southern Iraq."
Compared to the same time last year, the percentage of tourists to Sulaymaniyah increased by about 20,000 tourists.
For its part, the responsible authorities in Erbil province announced that "117,421 tourists went to the province during the Eid holiday," noting that "54 felonies and 51 misdemeanors were recorded."
As for the province of Halabja, the Directorate of Tourism announced that "84 thousand and 176 tourists went to the province, for the purpose of tourism and vacation, and 40 violations and warnings were recorded by the inspection and control committees," noting that "there were no unfortunate incidents during that period, and the Eid plan was successfully applied, in terms of receiving tourists and creating the appropriate atmosphere for them."
The concerned authorities in Dohuk province did not announce statistics after tourists flocking to the governorate and its tourist areas during the Eid al-Adha holiday.
$3.22 is the actual reinstatement...They're not going to reinstate it...but it would be enough to launch it into the float, let the float take care of it. The float will take it up to...$3.86...$4.25...$4.72. Inflation is the reason why they have been doing this RV that's leading into an RI but the RI is not feasible therefore due to inflation a float is necessary to take it to the real effective exchange rate, which may be around the numbers I suggested...
💢 Latest from Frank ~ 6.19.24
Frank: [The new ATMs] are everywhere now. It's not hundreds, it's not thousands, it's tens of thousands of them. They are everywhere that an Iraqi citizen can walk to. They are at their hookahs...mosques, barber shops...street..banks...corners, they're everywhere...There's going to be a massive rush going into the banks.
Iraq is preparing to establish a project that will change the oil map.. Will it affect energy producers?"
If you change the oil map, you change the exchange rate/the value of the currency of Iraq.
Quote: "Iraq's financial budget for the current year included the new pipeline project at an amount estimated at approximately 6.5 billion Iraqi dinars ($4.9 billion)"
I don't need to go any further than that...1.32 is what the citizens of Iraq are potentially in a position to receive. This article proves that there's a different rate in the budget...
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The investment law is being passed.You'll see it very soon. They have no choice. Sudani is extremely happy about it because that's how you're going to be able to get these new contract with the new exchange rate.
What is the time of the float? ...I want to watch the float. I want to calculate exactly just when I want to go ahead and exchange the rest of my dinar. Here's the problem. In the same manner they are giving [Firefly/Iraq citizens] a specific amount of time to turn them in, they will give us a specific amount of time to turn them in.
Did you see...Iraq and Kuwait are now linking with their fiber optics? This is extremely important part of the monetary reform...They know it's no longer a secret what is happening with the exchange rate of the Iraqi dinar.
Things are going perfect. Everything is moving with such perfection that no one can do anything about this right now.
How much time will they [Iraqi citizens] have to trade in 3 zero notes?
[Boot's on the ground Firefly's bank friend] told Firefly you're going to be given a short amount of time to exchange your Iraqi dinar.This is the very first time ever that we have information from a very good source [saying] you're going to have a specific amount of time to trade in your 3 zero notes.
Movement to activate the road agreement and the Chinese belt
Baghdad - Iraq Today:
The head of the parliamentary rights bloc, Saud Al-Saadi, renewed his call on the government to speed up the implementation of the Chinese Belt and Road Agreement, while revealing the collection of 60 deputy signatures to activate the Chinese agreement.
Al-Saadi said in a press interview that "the Belt and Road Initiative occurred in the time of successive governments and was a prelude to linking Iraq to the Chinese Belt and Road Initiative."
He added that "the Belt and Road Initiative to ensure Iraq's strategic and economic projects, pointing out that the agreement was procrastinated in the time of the Al-Kazemi government," pointing out that the current government is obligated to activate the agreement with China and link Iraq to the Belt and Road Initiative.
In Iraq news: “KBR wins $46 million dollar contract to support sustainable development in Iraq" This is actually more exciting then you think. This is an American engineering firm that was just awarded this 5 year options to support infrastructure and energy ambitions.
This is a long term contract and they are moving forward with these mega projects.What do they need to do these mega projects that they want to start immediately? They need a heck of a lot more money than the current rate will support...It has moved beyond the planning phase and is in the execution stage. For it to be executed it needs dollars…and we certainly think we know where those dollars are coming from.
Question: will the rate be fixed or a float?
MarkZ: I don’t look for a wild float but a very controlled or fixed float. IF there is a float...I can’t see more than a 2-5% change as allowed in a float. I am not looking for wild swings. ...Of course we won’t know until we get there. It’s possible $3.22 or higher. To me it doesn’t make sense to start at .76 cents or $1.32 to take 15-20 years to wait for it to grow. IMO they need to start closer to their end goal…imo. ...It looks like to me $1.32 is our worst case scenario...