I want to quote from the financial advisor to the Prime Minister, Mazhar Muhammad Saleh from one of the articles – “The fixed exchange rate system in Iraq is based on the highest international reserves in the history of Iraq and its monetary policy, as foreign currency covers more than 100% of the total currency currently issued.” So, this is telling us that the foreign reserves can back the dinar now in circulation by 100%... This is amazing. What wealth. But the dinar is still at 1/6 of a penny?
The news is still concentrating mostly on bringing in foreign investors and they told us today that there was a two part plan, and this plan is now completed...
The other part of the ongoing news from Iraq is still about the Parallel Market rate vs the Official CBI rate of the dollar...Saleh works with this issue daily and he is executing a plan. The plan takes time but Saleh says it is working and again tells us “soon” the parallel will equal the official rate...
So the rate is slowly stabilizing as has now reached 1,220 from 1,320. The goal is 1,121. Folks this is not too far off...This is all good news...Am I telling you they will RV when it reaches their goal. Of course not but these rates adjustments tell us they can not hold this back much longer and even with their own criteria something must be done and done soon to bring the dinar to the international investment world and free it up...
Shafaq News / The visit of Kurdish leader Massoud Barzani to the capital Baghdad was a qualitative leap and a catalyst to resolve the selection of the Speaker of the Iraqi Council of Representatives, as it brought together the opposites from the Sunni political parties – for his good relations with everyone – and this is good to end the Sunni differences that have been ongoing since the termination of the membership of Mohammed Al-Halbousi eight months ago.
Massoud Barzani arrived, on Wednesday, the federal capital Baghdad, and met with senior political leaders and government officials, and confirmed in statements he made during the visit that he found “good faith” by the political parties to resolve the differences that have existed for years between the Kurdistan Region and the federal government.
Within the positive moves made by Masoud Barzani in Baghdad, a source familiar with the matter said, on Thursday, that an “important” meeting that included all the leaders of the Sunni political forces was held in the office of the head of the “Sovereignty” coalition, Khamis Al-Khanjar, in Baghdad, with the aim of reaching solutions and resolve the crisis of electing the Speaker of the Iraqi Council of Representatives, and reaching an agreement that supports the nomination of one figure representing all Sunni parties to this position.
The Sunni political house is witnessing sharp competition for the succession of Mohammed Al-Halbousi, whose membership was abolished from the House of Representatives by a judicial ruling, while his party “progress” insists on retaining the position as he has a parliamentary majority within the Sunni component.
“A near-confirmed agreement”
In this context, the member of the “Tadq” party, Abdulaziz Al-Mudar, stressed that “the visit of leader Massoud Barzani to Baghdad is of great importance and carried international messages to the forces of the framework, as well as it melted the ice between Baghdad and Erbil after a break of 6 years, and it also has a positive in the file of resolving the presidency of parliament, where the Sunni opposites are collected and there is a near-confirm agreement to come up with one candidate for the file of the presidency of parliament who submits (progress) agreed upon by everyone to resolve the blockage.”
According to the architect, who spoke to Shafaq News, “any party that will violate this agreement, the remaining blocs will boycott the session and return things to their opposite record, which negatively affects the agreement of the coalition of state administration, and the party that violates the agreement will bear a crisis that is more fiercely fierce to the political process.”
“Kak Masoud’s private visit to the home of President Halbousi is a message to others to respect the majority’s eligibility to preside over parliament and has high diplomacy for the legitimacy of Sunni representation,” he noted.
On Thursday, Kurdish leader Massoud Barzani discussed, with the head of the Progress Party of Mohammed Al-Halbousi, in Baghdad, the developments of the political situation in Iraq and the issue of appointing the Speaker of the House of Representatives, as well as the implementation and commitment of the parties to the agreement of the coalition of the administration of state.
In the same file, Barzani met, on Thursday, Acting Speaker of the Iraqi Council of Representatives, Mohsen Al-Mandalawi, in the capital Baghdad, and the meeting discussed the election of the Speaker of the Iraqi Council of Representatives and other topics.
“Decountion within days”
For his part, a member of the Anbar Alliance, our identity, Abdullah Al-Jujaifi, said that “President Barzani’s visit to Baghdad came with the aim of activating agreements, enhancing cooperation and unifying visions between the parties to the political process.
During his speech to the agency, Al-Jaghifi saw that “Barzani is a prominent national figure, and his visit to Baghdad is very important, and establishes a road map to process files between the federal government and the Kurdistan Region.”
He pointed out that Barzani has strong and strong relations with large Iraqi and international national figures at the regional and global levels, and his visit did not exclude anyone, but on the contrary included everyone from both Sunni and Shiite components.
Regarding the election of a president of the Iraqi parliament, all Sunni political parties have good relations with Masoud Barzani, which is good to end this blockage and rivalry, according to Al-Jaghifi, who said: “We are better than this visit, and we believe that a speaker of parliament will be elected in the coming days.”
the fruits of the visit
In turn, the political analyst, Abdul Salam Barwari, confirmed that “Massoud Barzani is a figure with its weight and status in the Kurdistan region, Iraq and the region. He has long experience in management and leadership and has good relations with various spectrums of political elites in Iraq since the seventies and eighties, and participated strongly in reuniting opposition parties before 2003.
“Massoud Barzani succeeded in bringing matters to the London conference at the end of 2002, as well as at the Salahuddin Conference in early 2003, and even in the stage of building the new Iraq and writing the constitution, he had a big role when he was a member of the Governing Council and the Speaker of the Council for the period of preparing the constitution.”
During his speech to the agency, Barwari indicated that “in the recent time since Mohammed Shia Al-Sudani assumed the prime minister, there has been a qualitative change in the relationship between Baghdad and Erbil, where there was an effort to find common points and reach solutions that satisfy the two parties, and that this atmosphere came as a result of hard work and readiness by the government in Baghdad.”
He considered that “the recent visits by the President of the region Nichirvan Barzani and Prime Minister Masrour Barzani, as well as the successes achieved by delegations on the issue of finances, the issue of border crossings and others, all paved the way for President Barzani 6 years after visiting Baghdad, and that this great interest and intensive meetings are evidence of the appreciation of the status of Massoud Barzani.”
“It is not possible to find a radical solution to all matters in a flash, but by the nature and privacy of President Barzani, he is frank and presents matters directly and presents solutions that the other party can accept or prepare to discuss, so we hope to see in the near future signs of the positive results of this visit,” Barwari concluded.
I have been told by a number of different sources that the system [QFS - quantum financial system] is fully in place and tested. Nothing left to do but trigger it...with a possibility (treat as rumor- as we have heard this before) of money moving for us/ currencies as early as next week.
This is all coming from many, many different sources right now. Reputable sources. This is very consistent chatter with big expectations. The system is in place and they hope to trigger it. I am pretty excited...
...I’m not saying a float is not possible …but I believe it would have to be managed and come out closer to the end rate they want.
There are supposedly movement of Kurdish leaders in Iraq visiting Baghdad and the rumor is the HCL will be nailed down tight…done, done, done…and the announcement could be today.
FRANK26:"SUDANI ORGANIZES THE MEDIA FOR AN ANNOUNCEMENT.".............F26
Al-Sudani receives members of the Board of Trustees of the Iraqi Media Network
7/4/2024
Prime Minister Mohammed Shia Al-Sudani received, on Thursday, the members of the Board of Trustees of the Iraqi Media Network.
Al-Sudani congratulated the new members for their selection to the Board of Trustees of the network, stressing the importance of assuming their responsibilities and performing their assigned tasks, pointing to their role in integrating work within the network's joints, by drawing up policies and selecting constructive media discourse that contributes to formulating an informed public opinion, towards various issues and challenges, and in a way that achieves the supreme interests of the country.
The Prime Minister pointed out the importance of the media network as it represents the state's media, provides its media services to the public, and refutes misleading news and lies by providing accurate information, with a high level of performance.
Al-Sudani stressed the role of the network and its contribution to preserving the values of our Iraqi society, directing the Board of Trustees to work with high professionalism away from factional entrenchments, and to work in a team spirit with the head of the network, in a way that contributes to improving its performance.
Question "Does the budget have to be in The Gazette before we see a change in the rate?" No. They can make the change and then it can pop up in the Gazette. The Gazette is not something that is a mandatory in order for it to be revealed. The budget is a mandatory in order for it to be revealed.
Question: "The dinar may skyrocket slowly for years, is there a chance to keep them in dinars in multi-currency accounts?"
The IMF will force the CBI to give us outside of Iraq a specific amount of time [to exchange] but I pray that they give us 6 months to a year because if they give us one month to 3 months that's not enough time IMO to take advantage of the float...
Once you see the HCL, when will you see the new exchange rate? **snap** [That fast].
The WTO, you don't have to have value to your currency but it can't have any stains on your currency.What do you mean by that? The Iraq dinar had sanctions on it remember - The United Nations Security Council, they put handcuffs on the dinar. They cannot be used internationally, it was on the OFAC list, you couldn't touch it.It was Taboo...It cannot have any sanctions...restrictions. It must be fully capable of moving in the international markets...