Banks Seeing High Sell Rates, Waiting Approval?🚩US Fed Wants RV?🤔Dinar R...

Finance Ministry Discusses With World Bank Financing Of Transport And Social Development Projects, 30 JULY

 Monday 29 July 2024 13:15 | Economic Number of readings: 236  Baghdad / NINA / A meeting was held today, Monday, at the headquarters of the Ministry of Finance between the Minister of Finance, Taif Sami Mohammed, and a delegation from the World Bank headed by the Regional Director of the Middle East Department, Jean-Christophe Carre, to discuss ways to enhance cooperation in the field of economic and social development.

The ministry stated in a statement, "The meeting's axes focused in particular on supporting transportation, railway and infrastructure projects related to the development road linking Iraq and Turkey towards the European continent, in addition to financing the programs of the Social Fund for Development."

It added: "These projects seek to improve the quality of services for citizens, enhance economic growth, and provide new job opportunities. The expected benefits of these projects are summarized in developing the road and transportation network, in addition to supporting small and medium enterprises and reducing poverty and unemployment."

During the meeting, the two sides expressed "their optimism about the possibility of reaching fruitful cooperation agreements that would contribute to achieving sustainable development in Iraq." https://ninanews.com/Website/News/Details?key=1144202

RV UPDATE BY CLARE, 30 JULY

 Clare 

 Article: "He is 19 years old and the most important of 150 suspended laws... Will the powers give up the 'golden paper' in oil and gas legislation?"   

Quote:   "The Parliamentary Oil and Gas Committee expressed, today, Sunday, its 'optimism' about the imminent approval of the Oil and Gas Law, which has been suspended for 19 years,"

Clare  

Article: "The US Federal Reserve adopts a new strategy towards Iraq.. The dollar is threatened with rising to unprecedented levels" 

 Quote: "The Federal Bank has detected political influences from the Iraqi government..

.The US Federal Reserve will not be able to wait forever, and it is expected that there will be federal measures that may occur at any moment, and there will be a sudden and large demand for the dollar, which will lead to a decrease in the value of the Iraqi dinar against the dollar, which will generate great pressure on the Iraqi banking system, the Iraqi economy and the official political system."

Article:   "Iraqi banking system..A significant increase in the number of bank accounts and the volume of deposits for citizens"  

Quote:  "The banking system in Iraq is gradually regaining citizens’ confidence...In Iraq, economic and political challenges over the decades have provided a strong justification for keeping money at home rather than in banks.  

However, the accession of the Iraqi Deposit Insurance Corporation (ICDI) to the International Association of Deposit Insurers was a decisive step in improving confidence in the banking system. 

Since its accession, Iraq has witnessed a significant increase in the number of bank accounts and the volume of deposits...This development enhances Iraq’s ability to attract investment and support economic growth by converting savings into productive investments."

PIMPY: Iraqi Dinar update for 07/29/24 - Clearing out corruption and Houthi

Parliamentary Committee To Nina: These Are Our Observations On The Central Bank’s Measures To Confront The Rise In The Dollar Exchange Rate, 30 JULY

 Monday 29 July 2024 17:26 | Economic Number of readings: 309

Baghdad / NINA / The Parliamentary Committee on Economy, Industry and Trade disclosed a number of observations related to the Central Bank's measures to confront the rise in the dollar exchange rate against the dinar.

Member of the committee, MP Osama Al-Badri, stated that "there are different observations and points of view regarding the current measures of the Central Bank of Iraq in light of the lack of control over the rise in the exchange rate of the currency."

He explained that "the instability of the exchange rate has caused the emergence of the parallel market and increased the economic burden on citizens in light of the rise in prices due to the fluctuation of the exchange rate, and this requires the Central Bank's management to take effective measures to limit the impact of the parallel market. "

He added that "the Central Bank needs to adopt more decisive policies and coordinate with government agencies to achieve tangible economic stability," calling on the Central Bank to take serious steps to reduce the gap between the official exchange rate of 1320 dinars per dollar, and the parallel market and ensure price stability. / https://ninanews.com/Website/News/Details?Key=1144263

RV UPDATE BY MILITIAMAN, 30 JULY

  Militia Man 

 Progress has been intense because there's some political opposition.  I think the US Treasury, Federal Reserve, Central Bank of Iraq, Al-Sudani...have been working to benefit the Iraqi citizens.  There's been blowback...Iraq is not alone in having pressure... Unfortunately corruption has been a problem for many years.  Nothing new.   But that's being changed so now it's getting more intense...

Article quote: "Parliamentary Oil and Gas Committee experts its optimism on Sunday about the imminent approval of the Oil and Gas Law which has been suspended for over 19 years."  

They're telling you they have everything set up to where they're going to do something...I like the fact they're talking about it even thought it's in the coming days...

Dinar Timing is Everything Iraq’s Development Plan, Rate Changes, and Fe...