IMPORTANT IRAQ NEWS:SALEH: THE CENTRAL BANK’S DOLLAR RESERVES ARE SOLID AND THE GDP RATE IS VERY OPTIMISTIC BY MNT GOAT, 29 JULY

SALEH: THE CENTRAL BANK’S DOLLAR RESERVES ARE SOLID AND THE GDP RATE IS VERY OPTIMISTIC

The financial advisor to the Prime Minister, Mazhar Muhammad Salih, confirmed the cohesion of foreign reserves, especially the dollar, at the Central Bank of Iraq.

Saleh told Al Furat News Agency, “Covering urgent expenses in dollars, as they represent the desired demand for foreign currency, in addition to the level of sufficiency of incoming foreign currency flows and the level of maintaining the country’s reserves of the total foreign currency held by the Central Bank, is subject to two main factors.”

He explained that the first factor is “the nature of the oil asset cycle, which is still at its highest levels of global price increases due to the strength of global demand for energy, and that economic expectations indicate that potential price fluctuations towards a decline are still out of reach and are largely linked to the end of military operations in Ukraine, and the return of the flow of Russian gas and oil, especially to European markets, as the Russian Federation is the second largest oil-producing country in the world and leads the production and export of gas to major consumer markets in the European continent directly.” 

The other factor, according to Saleh, “is related to the surplus in the current account of the Iraqi balance of payments, as estimates issued by international financial institutions indicate that this percentage of the surplus in the current account of the Iraqi balance of payments to the country’s gross domestic product is no less than {positive 6%}, which is a very optimistic positive percentage.”

He explained that “both factors indicate the cohesion of the country’s foreign reserves, which are generated by high oil export revenues to date, versus control over outward cash flows of foreign currency to meet local demand for imported goods, services and foreign benefits, as the current account of the balance of payments indicates that it is in a positive and stable position and is consistent with the general budget’s spending tendencies during the current fiscal year 2024.”

RV UPDATE BY MILITIAMAN, 29 JULY

 Militia Man 

 Article:  "The US Federal Reserve adopts a new strategy towards Iraq"  Quote:  "The US Federal Reserve will not be able to wait forever

...There are federal measures that may occur at any moment."  I think that's pretty heavy you guys...This is where push comes to shove...There's clearly pressure happening now with the CBI and the US Treasury...They can't wait forever, the federal measures that may occur at any moment is a shot across the bow to be ready.

 Iraq's got a massive amount of dollar reserves/foreign reserves.  They've increased their gold supply...That suggests they're in good shape.   They've got some security and...stability.  I think everybody's starting to realize security and stability has been a big focus...It is coming to that stage where we're going to see more resulting in a far bigger way.

🔥 Iraqi Dinar 🔥 25 Note Worth $75 🔥 Today IQD Value to Dollar RV News Gu...

Iraq stores gold and expects it to rise over the next two months, 28 JULY

  The economist, Abdul Rahman Al-Sheikhli, expected Iraq’s gold reserves to rise over the next two months.

Al-Mashhadani said: “The acquisition of gold is considered one of the investment portfolio sought by countries and that Iraq has long begun to store gold and increase its reserves, especially with expectations of its rise during the next two months, and this means that the rise in gold prices is continuing and is part of the investments of countries.”

He explained, “Keeping dollar reserves or investing in treasury bonds does not achieve profits commensurate with the size of profits achieved from the increase in gold prices, although Iraq increased its reserves by one and a half tons of gold.”
Al-Mashhadani pointed out that “these are not in large numbers that enhance the confidence of the citizen and the diversity of investments, and this is the policy of a group of countries and banks, not only Iraq.”
The International Monetary Fund data showed an increase in gold reserves in Iraq and Qatar.
The data indicated that Iraq increased its gold holdings by 2.644 tons to 148.305 tonnes in May 2024.
Qatar raised its gold stock of 3.112 tonnes to 106.423 tonnes in June 2024, the data showed, according to Reuters.

Raghid
 

https://alforatnews.iq/news/العراق-يخزن-الذهب-وتوقعات-بارتفاعه-خلال-الشهرين-المقبلين

RV UPDATE BY MNT GOAT, 28 JULY

Mnt Goat 

  ...the Project to Delete the Zeros and the Dr Shabibi plan... was developed by the CBI and the IMF...It is a sound plan and they told they will execute it “when the conditions are right”...

the three zero notes are not being obsoleted after the deadline in Iraq is over to turn them in...These notes will be used for “interbanking of international transactions” ...where large sums of cash must be transferred...The CBI told us this many times in articles...the CBI did tell us there will “probably” be at least a 10 year use of these notes by the banks for this purpose. Yes, eventually these notes will become obsoleted but we will be way out of this and exchanged by then.

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"Q & A" WITH MNT GOAT

Q & A

Question from clayrich6a2b498e66:

Hi MG, I read your example of the project to delete the zeros is supposedly to work, if I am reading what you describe correctly they will replace the 25K notes with 25 notes of equal value, essentially a LOP, and also from the exchange rate, but that does not solve the problem of current prices of goods, for example a loaf of bread let’s say is priced in the market for 25k for the sake of argument, if they make the 25k note equal to a 25 note, the price of the bread is still 25k, how do they plan to overcome this new difference?

Answer Mnt Goat:

Guten Tag clayrich. Hope you are fine today. I read you question and I have to say I am glad you asked it because you are a bit confused.

First of all, the IMF is not going “lop” the Iraqi dinar. A “lop” is a tool the IMF uses to restart a currency from massive inflation. A good example is the Zimbabwe dollar when in 2016 they gave the citizens weeks to turn in the 100 trillion notes for $25 US dollars each. After the deadline they were worthless. We also have articles for Iraq telling us they WILL NOT lop the....FOR READ MORE: https://dinarevaluation.blogspot.com/2024/06/q-with-mnt-goat-10-june.html

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"Q & A" BY MNT GOAT

Q & A

Question from carolyncoffen:

Good morning, Mtn Goat,
I read an article earlier coming out of Iraq, stating the best way to protect your future wealth after the RV was to purchase ‘Government Bonds.’ Are we able to purchase those bonds? Thank you for your time and consideration. Have an awesome weekend.

Answer Mnt Goat:

Guten Tag Carolyn again. Seems you are victim of rumors off the internet. Don’t believe everything you hear. They are using all kinds of propaganda to push consumers in different directions, the direction they want. I am not sure what you mean by asking will you be able to purchase the government bonds. Do you mean from the bank when you exchange or meet with a wealth manager? A..FOR READ MORE: https://dinarevaluation.blogspot.com/2024/02/q-by-mnt-goat-7-feb.html

Dinar Revaluation Alert: Intel Guru Wolverine's Big Announcement"Dinar I...

The latest budget developments. Sudani enters ‘manipulation’ line and charges 3 deputies, 28 JULY

  The Prime Minister, Mohamed Shia Al-Sudani, informed the Presidency of the House of Representatives of the investigation in the manipulation of budget tables.

The Secretary-General of the Ajyal Gathering, Mohammed Al-Sayhud, said during his addition to the program {Free speech} broadcast by the Euphrates satellite channel this evening, that: “Three deputies are accused of manipulating the budget tables after the vote and signed by the Presidency of the House of Representatives.”

He added, “The government revealed the issue of manipulating budget tables and the difference of 3 trillion and a half trillion dinars, and the Sudanese informed the House of Representatives of the formation of a committee to investigate the manipulation.”

The Symudis noted that “I am waiting for the report of the commission of inquiry, and legally the confidence will be withdrawn from them if they are proven to manipulate the schedules.”

The Parliamentary Finance Committee had revealed various budget schedules before and after its approval and a difference of 15 trillion dinars.

Committee member Moen Al-Kadhimi {Euphrates News} said that the budget tables that arrived from the Council of Ministers and approved within the dome of the Parliament are the same as the government tables; therefore, the book we received from the Council of Ministers is that the tables that were referred after the vote have a difference and a big difference in some doors amount to 15 trillion dinars.
He added that the spending budget is 211 trillion dinars; but the schedules signed by the presidency of parliament and sent to the Council of Ministers read 226 trillion dinars.
Al-Kadhimi explained that the Prime Minister’s Office sent the schedule signed by the Presidency of Parliament, which included:
– An increase in the amount of the ration card is 5 trillion dinars.
– An increase in oil revenues of 5 trillion dinars.
– Reducing the fee amounts is 5 trillion dinars.
– In addition to financial increases to the Ministry of Electricity and some provinces.