The Governor of the Central Bank, Ali Mohsen Al-Alaq, confirmed today, Sunday, that our foreign currency reserves are sufficient to create balance in the market. The media office of the head of the Finance Committee in the House of Representatives said in a brief statement received by Al-Mutalaa, that "the Governor of the Central Bank, Ali Mohsen Al-Alaq,
provided a full briefing during his hosting of the Finance Committee on the reasons for the fluctuation of the exchange rate, the mechanism of the electronic platform and its role in controlling internal and external trade, the housing initiative file, US sanctions on Iraqi banks, and the status of the cash reserve of hard currencies at the Central Bank of Iraq."
Al-Alaq stated, according to the statement, that "our reserve of hard currency is sufficient to create balance in the market," indicating that "the Central Bank sells more than $ 250 million daily to meet the requirements of foreign trade," indicating that "85 percent of foreign transfers are currently taking place between Iraqi banks and correspondent banks, without going through the US Federal Reserve."
He pointed out that "the housing initiative is of great importance to the bank, and that the volume of loans granted within the real estate initiative amounts to 10 trillion dinars," adding that "the Central Bank is now heading to cover the financing of the construction of 23,000 housing units, and priority will be given to completed residential complexes." link
Monday, August 5, 2024
Central Bank Governor: Our foreign exchange reserves are sufficient to create balance in the market, 6 AUGUST
RV UPDATE BY BREITLING, 5 AUGUST
Breitling
Put on your big-boy pants. The whole point of this is watching so we know where we are at, whether we stay in or move to a different investment...I clearly stated and I'm going to repeat it right now - I've always been pro the dinar revaluing, there are certain things that have to happen. That's never changed. But what's coming up and our policy towards Iraq has put me into neutral zone...Right now I'm not getting out. Let's see what happens that comes on down the road.
United States sanctioned the living hell out of Iran. Iran is using the banks and financial system Iraq has to move around that to get U.S. dollars and we [The United States] are sick and tired of it...We're changing the policy...Al-Sudani discusses with Allawi the government's efforts and serious steps to achieve economic reform, 5 AUGUST
Prime Minister Mohammed Shia Al-Sudani received today, Sunday, former Prime Minister and head of the Iraqi National Accord Party, Iyad Allawi.
The government statement, a copy of which was received by {Euphrates News}, stated: “The meeting witnessed a discussion of the general conditions in the country, and a discussion of the government’s efforts and serious steps to achieve economic reform, which is the basis for developing all vital sectors, and improves the economic and living conditions of citizens in all parts of Iraq.”
He pointed out that "the meeting addressed the situation in the region and the challenges it faces in light of the increasing frequency of bloody attacks by the Zionist occupation authorities against the Palestinian people in Gaza, and the emphasis on Iraq's sovereignty and security, which is a gateway to the region's security and stability." link
LATEST FROM ARIEL, 5 AUGUST
Ariel on X ~ 8.5.24
Iraq has to be watching the markets right now salivating at the mouth knowing what's to come for their country on the other side of this. They are in the final stages and I cannot wait.
---
Ariel 8.5.24 --August Is A Really Hot Month 🔥
So Joe Biden economic advisor steps down. You have five trading platforms shutdown. Multiple brokerages are down. Now mind you the war with Israel and Iran hasn't even started yet.
And almost $2 trillion has been wiped out from the US markets so far just 15 MINUTES since since the opening bell. On top of this news the NASDAQ hits a record, down 1000 points on the day, something that has never been done before.
People do you see what is happening? I know you have many sitting by anticipating the greatest wealth transfer humanity has ever seen.
Tokyo is the city with the most millionaires in the world, London has the most multi millionaires and New york has the most multi billionaires. Will you be one of the new additional groups to live in those areas?
We are living in historic times people. There will never be another time like this. So just know what is on the other side of this. And it will be glorious.
Al-Alaq: The Central Reserve Is Sufficient To Create Market Balance, 5 AUGUST
Time: 08/04/2024 19:17:45 Read: 988 times {Economic: Al-Furat News} Central Bank Governor Ali Mohsen Al-Alaq confirmed today, Sunday, that the dollar’s financial reserve is sufficient to create a balance in the market.
A statement by the media department in the House of Representatives, a copy of which was received by {Al-Furat News} Agency today, stated that
“Iraq’s hard currency reserves are sufficient to create balance in the market,” noting that
“the
Central Bank sells more than 250 million dollars daily to meet the requirements of foreign trade.” The statement indicated that
"the Governor of the Central Bank provided a complete briefing on the reasons for the
fluctuation of the exchange rate, the
mechanism of operation of the electronic platform and
its role in controlling internal and external trade, as well as the file of the
housing initiative
, the
American sanctions on Iraqi banks, and the
status of the bank's cash reserve of hard currencies." "Central"
Al-Alaq pointed out, according to the statement, that “85% of remittances do not pass through the US Federal Reserve.” https://alforatnews.iq/news/العلاق-احتياطي-المركزي-يكفي-لخلق-توازن-السوق
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