There seems to be some confusion...when it comes to the delete the zeros program. Value of the Iraqi dinar starts in country by government policies, CBI reserves, oil production, investments by the Iraqi government, output of the economy, and so on. Value is currently represented by the three zeros printed on the currency. An exchange is a ratio of two currencies which is used outside the borders of a country. Therefore, when value is added to the Iraqi dinar first by the CBI in country the three zero notes will be physically removed from circulation. In their place the CBI will release the lower notes with added value...Lastly, the exchange rate of the Iraqi dinar compared to other currencies will reflect the added value to the Iraqi dinar. So, it is not about the zeros coming off the exchange but the three zero notes being no longer used...
The Prime Minister, Mohammed Shia Al-Sudani, stressed on Wednesday the importance of integration between the Kurdistan region of Iraq and the rest of the provinces in the development of national industry.
The Prime Minister’s Information Office, in a statement received by “Economy News”, said that “Al-Sudani chaired the first meeting of the Industrial Coordination Council,” stressing that “this Council is concerned with the development of industry and taking decisions that will improve the industrial reality, as well as is responsible for addressing all obstacles facing Iraqi industry.”
Al-Sudani pointed out that “the meetings should be based on priorities presented by a support committee of general managers concerned with the industrial aspect in the relevant ministries, and directed the hosting of officials of bodies and entities related to the development of industry.”
Al-Sudani stressed “the importance of integration between the Kurdistan region of Iraq and the rest of the governorates in the development of the national industry, and indicated that the major markets that will be activated by the Ministry of Commerce, in partnership with the private sector, will be a place to display local industrial products, noting the progress made in the field of localizing the pharmaceutical industry and localizing the localization of construction industries.”
The Prime Minister explained that “the government has, since the beginning of its work, diagnosed the problems related to Iraqi industry, and launched promising partnerships with the private sector to activate the local industry, in addition to important partnerships with major industrial countries such as Japan, Germany, France and others, by covering these activities with sovereign guarantees.”
The meeting discussed “a number of working papers submitted by the Ministries of Electricity and Industry, and a number of advisers to the Presidency of the Council of Ministers on industrial development,” according to the statement.
The Council also considered “a number of topics on its agenda, including with regard to cooperation between the private sector and the ministries of electricity, industry and minerals; to meet the requirements of the two ministries, as well as in the field of encouraging the governorates to employ solar energy systems, in expanding consumer protection applications, activating joint committees in the industrial side with friendly industrial countries, and stimulating international companies to cooperate with the national industrial sector.”
The statement from Prime Minister Mohammed Shia Al-Sudani emphasizes the critical role of integrating the Kurdistan region with the rest of Iraq in advancing national industry. Here’s a summary of the key points:
Industrial Coordination Council: Al-Sudani chaired the inaugural meeting of this council, which aims to enhance industrial development and address obstacles facing the Iraqi industry.
Integration of Regions: He highlighted the need for seamless cooperation between the Kurdistan region and other provinces to boost the national industry.
Market Activation: Plans are in place to activate major markets in partnership with the private sector to showcase local industrial products. This includes advancements in localizing the pharmaceutical and construction industries.
International Partnerships: The government has been actively forming partnerships with major industrial countries such as Japan, Germany, and France, supported by sovereign guarantees to enhance local industry.
Agenda and Discussion Points: The meeting covered various topics, including cooperation between the private sector and ministries, promoting solar energy systems, enhancing consumer protection, and encouraging collaboration with international companies.
For the latest updates, follow the provided Telegram link or visit the Economy News website.
[Iraq former government/UN employee friend Imad from Basra update]
Question: "Will the three zeros be deleted?"
Yes sir, they will be deleted soon...realistic it's not going to happen next week or next month. It's not...you have to hang on and wait a little bit.
NADER: I say from here to December...Is it going to happen before the election?
IMAD: No. Let's wait and see. NO...It's not in the near future...To move these three zeros takes a lot of work...corruption...a lot of things have to straighten up a little bit.
An economist revealed the rise in the deposits of Iraqi commercial banks to reach the barrier of 130 trillion dinars.
Manar Al-Obeidi said in a statement that received a copy of it by {Euphrat News} that “the deposits with Iraqi commercial banks increased in June 2024 to reach 129.88 trillion dinars, higher with an annual growth rate of 3.74% and a monthly growth rate of 1.43%.” He added, “Current deposits, which represent by about 80% of deposits, increased by an annual growth rate of 6.68% and a monthly growth rate of 1.67% to reach 104.55 trillion Iraqi dinars, while savings deposits, which represent 12.74% of the monthly growth rate increased by 0.9%, but they decreased on an annual basis and a decrease of 4% to reach a total value of 16.2 trillion dinars.” Al-Obeidi continued, “As for fixed deposits, which represent 7% of the total deposits, decreased on a monthly basis by 0.29% and on a year-year basis of 11.84% to reach 9.13 trillion dinars.” He pointed out, “As for the sources of deposits, the private sector deposits occupied the highest percentage by 43% of total deposits with a total value of 55.89 trillion Iraqi dinars and increased on an annual and monthly basis by 2.38% and 1.54%.” He pointed out that “central government deposits, which represent 34.3% of the total value of deposits, increased by 5.49% on a monthly basis and 10.85% on an annual basis and a total value of 44.63 trillion Iraqi dinars.”
He explained, “The deposits of public institutions, which represent 22.6% of the total value of deposits, recorded a decrease in the monthly growth rate of 4.33% and a decrease in the annual growth rate of 3.38% and a total value of 29.36 trillion dinars.”
According to recent data, deposits in Iraqi commercial banks have seen a notable increase, reaching approximately 130 trillion dinars by June 2024. This represents a 3.74% annual growth rate and a 1.43% monthly growth rate. Here's a detailed breakdown:
Current Deposits:
Value: 104.55 trillion dinars
Share: About 80% of total deposits
Annual Growth: 6.68%
Monthly Growth: 1.67%
Savings Deposits:
Value: 16.2 trillion dinars
Share: 12.74% of total deposits
Annual Growth: Decreased by 4%
Monthly Growth: Increased by 0.9%
Fixed Deposits:
Value: 9.13 trillion dinars
Share: 7% of total deposits
Annual Growth
: Decreased by 11.84%
Monthly Growth: Decreased by 0.29%
Sources of Deposits:
Private Sector:
Value: 55.89 trillion dinars
Share: 43% of total deposits
Annual Growth: 2.38%
Monthly Growth: 1.54%
Central Government:
Value: 44.63 trillion dinars
Share: 34.3% of total deposits
Annual Growth: 10.85%
Monthly Growth: 5.49%
Public Institutions:
Value: 29.36 trillion dinars
Share: 22.6% of total deposits
Annual Growth: Decreased by 3.38%
Monthly Growth: Decreased by 4.33%
These figures indicate a robust growth in the overall deposit base, with varying trends across different deposit types and sources.
Mon. 12 Aug. 2024 Foreign Currency Exchange and Zim Bond Redemption…Q Storm 1776 through John F. Kennedy on Telegram:
Bond funds delivered to paymasters coming in so fast that everyone was in awe from the amount.
Private appointments are being made now.
Get your plans/projects together and don’t wait around for this to happen without being ready.
No straight cash will be given
You are in charge of your funds and can place funds in different accounts
Advisers will be there to assist you with your funds and will help guide you in your projects or choosing one on the list.
Everything is going well, still some that do not want this to happen, but all is safe.
You can take to your appointment: advisors/bank contacts (if you have already spoken to a specific person)/ friend/any person/s you want to assist you
Zim Cap information is changing daily but as of now they are paying as follows: No Projects = $15 million no matter amount you might hold With Projects = First two bond notes are 1 to 1, after this $25 million (per 100T) up to 30 bond notes. To negotiate further, you will need to return.
Safe link 800# will be released closer to go date.
Rates are EXTREMELY high.
We are almost at the end of the road.
All intel is saying “Next Week.”
A trusted military intelligence contact confirmed that GCRLiquidity releasebegan at exactly 3:00 PM PDT on Wed. 7 Aug. 2024 and would unfold over the next 72 hours. “The Sovereign Committee and US federal government have just approved T4A and B payments – this has started Reno, Miami, and other East Coast states.”
Sources said the delays in setting Tier4b appointments (which were to be made starting Sat. 10 Aug. – didn’t happen.) were from making sure the QFS systemand all the test clients were done perfectly so they can see their funds in their accounts (or hold SKRs) but would not be able to use these funds until the shotgun start has started.
The new currency rates were traded on the Forex till Sunday 11 Aug. at 5pm.
Over 1500 Farm Claims have been paid out.
Prosperity Packages National Guard deliveries started on Fri. 9 Aug.
Mid-September was anticipated to be a period of substantial activity of significant financial movement.
