Removing Zeros from the Iraqi Currency: Possibility of Implementation BY DINAR REVALUATION, 16 AUGUST

Removing Zeros from the Iraqi Currency: Possibility of Implementation

Removing zeros from a currency is a procedure undertaken by some countries in order to revalue the national currency and simplify financial transactions. This is done by removing a specific number of zeros from the nominal value of the currency, making it appear less inflationary and more stable.

One of the possible reasons for deleting zeros is to combat inflation. When a currency suffers from high inflation, the nominal values ​​can become very high and impractical to be offered in large quantities in daily transactions. Deleting zeros can contribute to enhancing confidence in the national currency, facilitating accounting operations and financial transactions; this may contribute to improving the country’s image before investors and the international community.

Potential challenges of deleting zeros include printing new currency, modifying accounting systems, and training on how to use the new currency. It may initially cause some confusion among residents and consumers, and if the deletion process is not implemented well, it may lead to economic disruptions.

Examples of countries that have taken this action include Turkey in 2005 when it removed six zeros from its currency, Brazil on several occasions in the 1980s and 1990s, Zimbabwe, which removed twelve zeros from its currency in 2009, and Venezuela, which removed five zeros in 2018.

The number of cases in the world in which currency zeros were removed is estimated at 70 cases witnessed by the world, according to the International Monetary Fund.

https://bti-project.org/en/reports/country-report/IRQ

LATEST FROM MILITIAMAN, 16 AUGUST

  Militia Man

  Article quote:  "Federal Integrity Commissioner...says we discussed the development in the integrity file and the government's efforts to recover funds into the Iraqi state treasury." 

 There's some people out there that have stolen a lot of money and that money is still floating around the world...If you stole it you're probably going to have a knock on the door...If you're playing by the rules you shouldn't have a problem.  Depends on who writes the rules of course...

 There are a lot of things that are rough and tumble out there.  On a good note, everything  we're seeing is still focused and still on track and I think we're going to be in good shape.   If they launched this over a year ago, we're coming to a close.  I firmly believe it, they're coming to a close and they're getting ready to do what they have to  do...

 Saleh, financial advisor to the prime minister, has a really good report.

 "Government Signal:  High Export Capacity Boosts Currency Value" 

 He's giving reasoning why certain things will boost value...They're talking about floating and fixed prices...He gives his opinion - Floating seems too aggressive, fixed prices work but a managed float I think is what he's talking about...

🔥 Iraqi Dinar 🔥 RV ON 21 AUG 🔥 Today IQD Value to Dollar RV News Guru Up...

Iraq's Monetary Policy Shifts in Relation to the Reinforcement of the Iraqi Dinar BY DINAR REVALUATION, 16 AUGUST

Iraq's Monetary Policy Shifts in Relation to the Reinforcement of the Iraqi Dinar

Iraq's monetary policy has undergone significant changes in recent years, particularly in relation to the reinforcement of the Iraqi Dinar. The country has been working to strengthen its economy and reduce its reliance on the US dollar.

Background

Iraq's economy has been heavily dependent on oil exports, which has made it vulnerable to fluctuations in global oil prices. The country has also struggled with corruption, inefficiency, and a lack of economic diversification. In recent years, the Iraqi government has implemented various reforms aimed at improving the business environment, reducing corruption, and promoting economic growth.

Monetary Policy Changes

One of the key monetary policy changes in Iraq has been the introduction of a new exchange rate system. In 2022, the Central Bank of Iraq (CBI) introduced a new exchange rate system, which allows for a more flexible exchange rate and aims to reduce the gap between the official and parallel exchange rates. The CBI has also increased its efforts to combat money laundering and terrorist financing, and has implemented stricter regulations on banks and financial institutions.

Reinforcement of the Iraqi Dinar

The reinforcement of the Iraqi Dinar has been a key objective of the Iraqi government's monetary policy. The government has implemented various measures to support the currency, including increasing the minimum capital requirements for banks and introducing stricter regulations on currency trading. The CBI has also increased its foreign exchange reserves, which has helped to stabilize the currency.

Impact of Monetary Policy Changes

The monetary policy changes in Iraq have had a positive impact on the economy. The introduction of the new exchange rate system has helped to reduce the gap between the official and parallel exchange rates, and has increased the attractiveness of the Iraqi Dinar as an investment currency. The stricter regulations on banks and financial institutions have also helped to reduce corruption and improve the overall stability of the financial system.

Challenges Ahead

Despite the progress made, there are still challenges ahead for Iraq's monetary policy. The country's economy remains heavily dependent on oil exports, and the government needs to continue to diversify the economy and reduce its reliance on oil. The government also needs to continue to implement reforms aimed at improving the business environment and reducing corruption.

Conclusion

In conclusion, Iraq's monetary policy has undergone significant changes in recent years, particularly in relation to the reinforcement of the Iraqi Dinar. The introduction of a new exchange rate system, stricter regulations on banks and financial institutions, and increased foreign exchange reserves have all helped to support the currency and improve the overall stability of the financial system. However, there are still challenges ahead, and the government needs to continue to implement reforms aimed at improving the business environment and reducing corruption.

https://www.bloomberg.com/news/articles/2024-07-13/iraq-in-talks-with-us-treasury-over-banks-dollar-restrictions

LATEST FROM PIMPY, 15 AUGUST

 Pimpy   

Until you hear otherwise just assume Alaq has submitted his resignation letter and has not put a date yet as to when his last day is.  There are too many articles out there stating he has submitted a resignation letter.  

 Pimpy 

 If it could be proven that [Alaq] was involved with some criminal activity...then he should be out of there and convicted...But if it's all bullshit and this is another one of those moves by Maliki and the Coordinating Framework then people have to do something...So we're not sure where this information is coming from.  But that doesn't mean you

shouldn't listen to the news, because this person is like, 'See Pimpy, you said there is no fake news.'  I did not say there was no fake news but not everything can be fake news.  Just because you don't like the information...it must be fake news.  Nope.   What you got to get to is the bottom of why this situation is there in the first place...Like anything else you have to be able to sift through the crap that you're hearing and make a decisions on whether the news is real or not...

 Pimpy 

 We know pretty soon Iraq is going to be here and talking to people in Washington about what they need to do to get back into good graces, have sanctions lifted on some of the banks and allowing Iraq to move forward with reform without looking for excuses to penalize them every time Iraq does something that pisses off the Biden Administration.

DINAR REVALUATION : Turkey & Iraq Unite: New Security Deal Explained!

DEAL BETWEEN ANKARA & IRAQ : SEARCHING STABILITY IN THE REGION BY DINAR REVALUATION, 15 AUGUST

Ankara, Baghdad sign security deal as Iraq bans PKK-linked groups

Shafaq News/ Turkiye and Iraq signed a security pact on Thursday aimed at combating terrorism, as Ankara welcomed Baghdad's decision to ban three parties linked to the Kurdistan Workers' Party (PKK).

The agreement, the first of its kind between the two neighbors, was announced at a joint press conference by Turkish Foreign Minister Hakan Fidan and his Iraqi counterpart, Fuad Hussein.

Fidan praised Iraq's move to outlaw the PKK-linked groups, while Hussein said Baghdad would reach an agreement with Ankara on the Bashiqa military camp.

Iraq's top diplomat said that the PKK is a banned organization and its activities in Iraq are not acceptable.

The Iraqi minister also expressed concern over rising tensions in the region, particularly in Gaza, calling for an immediate ceasefire. "Iraq opposes all wars in the region," he added.

Fidan noted that the agreement includes the establishment of Joint Coordination and Training Centers, which will enhance the cooperation between the two nations.

"We believe that through these centers, we will elevate our collaborative efforts in the fight against terrorism," he said. "We aim to strengthen the unity of understanding we are building with Iraq through concrete actions on the ground and will continue our efforts in this direction without interruption."

The PKK, which has been waging an insurgency against the Turkish state since 1984, is designated a terrorist organisation by Turkey, the United States and the European Union. More than 40,000 people have been killed in the conflict.

ANALYSIS: 

The recent security agreement between Turkey and Iraq marks a significant step in the efforts to combat terrorism in the region.

 This pact, highlighted by a press conference with Turkish Foreign Minister Hakan Fidan and Iraqi Foreign Minister Fuad Hussein, represents a collaborative approach to addressing shared security concerns.

Key points from the agreement include:

1. Joint Coordination and Training Centers: These centers are designed to improve cooperation between Turkey and Iraq in the fight against terrorism, aiming to enhance operational effectiveness and coordination.

2. Outlawing PKK-linked Groups: Iraq's decision to ban three parties associated with the Kurdistan Workers' Party (PKK) aligns with Turkey's longstanding goal of disrupting PKK activities. The PKK, recognized as a terrorist organization by Turkey, the U.S., and the EU, has been involved in a prolonged insurgency that has claimed many lives.

3. Bashiqa Military Camp: Discussions are ongoing regarding the status and future of the Bashiqa military camp, which has been a point of contention between the two countries.

4. Regional Tensions: Both ministers also addressed broader regional issues, with Hussein emphasizing Iraq's opposition to conflicts such as those in Gaza and calling for an immediate ceasefire, reflecting a desire for stability in the region.

This agreement not only signifies a strengthening of security ties between Turkey and Iraq but also underscores the importance of international cooperation in addressing terrorism and regional instability.