RV UPDATE BY NADER FROM MID EAST, 21 JULY

Nader From The Mid East 

 You heard them talking about corruption.  They're going to clean it up but it's going to  always be there.  It's everywhere.  It's in America.  It's everywhere in the world.  It's in Europe.  It's here.  Corruption is  corruption, the biggest corrupt people you cannot clean them cuz they have powers...You can't do anything against them. 

 What's going on in Iraq is really really good.  Last month you see me talking about this month, about July.  I said from now to July 8th you'll get some good news and that's exactly what happened.  You see every proof of possibility to revalue or reinstate.  I think it's reinstatement more than revaluation.

 Lots of things happening...I see good news coming up this week so stay tuned...What's happening now it's good.  I can say we are very close.   

Nader From The Mid East 

 Things have been moving a little bit from here to the 8th of July.  I hope we have an answer cuz that's what they shooting for.   I don't know if it's going to be good or bad...It's more good than bad but I don't want to say anything about that cuz if anything happen you're going to say, 'Hey, but you said this.  You said that.'

SUMMARY OF RV UPDATES OF NADER FROM MID EAST, 21 JUNE

I know they working on the exchange rate from here to the 8th of July.  We will have some  good news I hope.  

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Article:   "Iraq Bulks Up Gold Reserves, Inch Up World  Rankings"  Quote:  "Their holdings have grown to 145.7 tons, a bump of over 3 tons compared to 142.6 tons the previous month.  This increase...is enough to nudge Iraq one spot higher in the WGC's global ranking, landing them 31st place out of 100 countries."

Last week...I said Iraq government start a new white paper, it's all about the currency.  From here to the 8th of July we should have an answer.  What they going to do - Are they going to change the exchange rate or not?  That's what I said exactly.  They're working on it.  I know they created a white paper on that.   The CBI... government of Iraq, the reserve and the IMF are all working on the same page on those white papers.  I don't know if it's going to change or not...

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The UN agreement, 2003 when they invaded the country, now they said the last day is next year 2025.  They been talking about the end of the war and this is one of them.  That is very good news. 

 We talk about sovereignty, that's one of them.  It's good for Iraq.  It's going to make Iraq stronger and happier...Sudani what he's talking about the coalition gonna leave in 2025...it's official.

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'Nader you said it was going to happen in June.'  No I didn't say in June happen. 

 I said June they're a possibility for them to work on the dinar because each time they worked on him it's between June and August...They created a new white paper.  They're going to start working on the exchange rate and I think from here to the 8th of July.  We'll see what's going to happen.

Iraq wanted to de-dollarize.  They start de-dollarizing in January but it didn't work for them too much. 

 The government didn't expect that to happen even by telling them that the dinar are stronger...use the dinar instead of the dollar for the benefits of the country.  They tried everything.  Now, they said that plan didn't work so they come out to the new white paper...They realized they cannot do nothing without changing the exchange rate.

They're going to have to go down in the exchange rate for the de-dollarization...They're going to have to change their exchange rate...Between now and 8th of July we should have an answer...

 what they going to do?  Are they going to change the exchange rate...keep it the same...go up...go down? 

 I think they're going to have to go down on the exchange rate a lot for them to take off the dollar from the street.

https://dinarevaluation.blogspot.com/2024/06/rv-update-by-nader-from-mid-east-1-june.html

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RV Update Of Iraqi Dinar By MNT Goat Today 2024🔥iraqi dinar revaluation ...

Iraq participates in UNCTAD technical meetings.. What is its relationship to international trade?

 7/20/2024  Baghdad

The Ministry of Commerce announced today, Saturday, its participation in the technical meetings of the UNCTAD regarding the accession of Arab countries to the World Trade Organization in Istanbul.

The ministry stated, in a statement received by "Al-Eqtisad News", that it "participated today in the technical meetings organized by UNCTAD in Istanbul, which will last for two days, to discuss the experiences of Arab countries in joining the World Trade Organization."

Director General of the Department of Foreign Economic Relations, Riyadh Fakher Al-Hashemi, who represented the Ministry of Trade in these meetings, said, according to the statement, that "the meetings discussed the outcomes of the 13th Ministerial Conference of the World Trade Organization, the process of Arab countries joining the organization, and how Iraq can benefit from these experiences in its process of joining. The importance of trade in services in supporting the economies of Arab countries and enhancing their growth was also reviewed."

Al-Hashemi stressed that "Iraq's participation in these technical meetings enhances the experience of the Iraqi negotiating team and pushes it to move forward quickly towards achieving full accession to the World Trade Organization, as the exchange of knowledge and experiences gained from these meetings will have a significant positive impact on improving Iraq's negotiating capabilities and achieving its economic goals."

The statement indicated that "this participation is part of the ongoing efforts made by the Ministry of Trade to enhance Iraq's international economic relations, and to take advantage of the available opportunities to enhance economic and commercial development in the country." LINK

RV UPDATE BY PIMPY, 21 JULY

 Pimpy 

 Yes, an article came out again about deletion of the zeros... "Removing Zeros from the Iraqi currency: Talk Returns and Possibility of Implementation"  I keep telling everybody when they do the deletion of the zeros this is how it's going to work.  You got a 25,000 dinar.  Right now at the current rate you have .00076.  It equals $19.  The nominal, which is the [three zero] currency, they will remove the three zeros [25]...and it will take the three zeros off [the rate - .76]...That would be 25 dinar times .76 gives you $19.

 Pimpy  

I keep telling people,  the WTO will talk about the Iraqi exchange rate but not in the sense that they're forcing or telling Iraq they have to change their exchange rate.  That's not what they do.  They just talk about trade and any hurdles that are between them and trade members.  They can point something out, they can make recommendations, but it's not up the WTO when it comes to the exchange rate...I know people are telling you it's going to be on July 18th they're going to change the exchange rate.  No they're not.

 It's not the job of the World Trade Organization to handle Iraq's currency exchange rate.  That's not what they're there for.   It's called the World Trade Organization not the World Exchange Rate Organization.  

https://dinarevaluation.blogspot.com/2024/07/rv-update-by-pimpy-19-july.html

🔥 Iraqi Dinar 🔥 RATE CHANGE 🔥 Today IQD Value to Dollar RV News Guru Upd...

Inclusion of commercial centers and private stores in the electronic payment system in Iraq

 7/20/2024  Baghdad

The government media team announced, today, Saturday, ongoing directives and government follow-ups to include all shopping centers, pharmacies, medical clinics, shops and private stores in the electronic payment system.

The team's spokesman, Haider Majeed, said, "The official institutions continue to implement the decisions of the Council of Ministers and the directives of Prime Minister Mohammed Shia al-Sudani regarding the digital transformation process in the electronic payment file, which is one of the most important priorities of the government program."

He added, "The electronic payment process began in 10 government fuel stations in the capital, Baghdad, distributed between Karkh and Rusafa, and then the work expanded to all fuel filling stations in the governorates of Iraq, after which it included all private fuel filling stations."

Regarding official institutions, Majeed confirmed that “most of the institutions that provide services and have direct contact with citizens operate with the electronic payment system, starting with the Directorate of Passports, Nationality and Civil Status, followed by the Ministry of Health institutions, public clinics, and then the rest of the operating institutions in succession.”

He pointed out that "there are ongoing directives from the government and follow-ups between the Central Bank of Iraq, the Ministry of Finance, and the rest of the official institutions, to include private stores, pharmacies, medical clinics, shops, and markets in malls in the electronic payment file," stressing that "work is continuing in this regard."   LINK

RV UPDATE BY CLARE, 21 JULY

Clare  

 Article:  "Removing Zeros from the Iraqi Currency: Talk Returns and Possibility of Implementation"  

Quote: "if the currency is the “dinar” and its value is equal to 1,000 dinars, after removing three zeros, its value will become one new dinar...According to experts, the actual value of the money people own does not change after deleting the zeros, but this step contributes to simplifying the buying and selling processes for individuals and companies, and makes the financial amounts simpler and more understandable. Instead of dealing with huge numbers such as a trillion or a million (1,000,000 Iraqi dinars), 

they can be converted to just one thousand 1,000 dinars after deleting three zeros...The exchange rate will be transformed into one dinar for every one dollar, and this is what the late former governor of the Central Bank, Sinan Al-Shabibi, aspired to"