Monday, August 19, 2024

The IMF's Role in Iraq's Economic Policies Post-2024 Dinar Revaluation by DINAR REVALUATION, 19 AUGUST

The IMF's Role in Iraq's Economic Policies Post-2024 Dinar Revaluation

Since the 2024 revaluation of the Iraqi dinar, the International Monetary Fund (IMF) has played a significant role in shaping Iraq's economic policies and promoting fiscal sustainability.  In a staff concluding statement issued after the 2024 Article IV consultation, the IMF highlighted several key recommendations for Iraq to address its economic vulnerabilities and ensure long-term stability. 

Reducing Oil Dependence and Fiscal Adjustment

The IMF urged Iraq to reduce its dependence on oil revenues and implement significant fiscal adjustments to ensure fiscal sustainability.   They recommended focusing on controlling the public wage bill and increasing non-oil tax revenues as a means to stabilize the economy and reduce the impact of oil price volatility. 

Promoting Private Sector Development

To support higher economic growth and absorb the rapidly expanding labor force, the IMF advised Iraq to enable private sector development.  This includes labor market reforms, modernization of the financial sector, and restructuring of state-owned banks. 

Pension and Electricity Sector Reforms

The IMF also called for reforms in the pension and electricity sectors to improve efficiency and reduce fiscal burdens.  These reforms are essential for Iraq to achieve sustainable, inclusive, and private sector-led growth. 

Executive Board Assessment

The IMF Executive Board, after concluding the 2024 Article IV consultation, agreed with the staff's appraisal and emphasized the importance of sound macroeconomic policies and structural reforms for Iraq.  They acknowledged the risks associated with ongoing regional conflicts and Iraq's dependence on oil prices.  The Board underscored the need for Iraq to secure fiscal and debt sustainability through appropriate policy adjustments. 

SOURCES: 



SUMMARY OF RV UPDATES BY WOLVERINE, 19 AUGUST

 WOLVERINE

Fri. 16 Aug. 2024 Wolverine
 “Exciting things have happened, but I’m not allowed to say what. People are expecting something Sun. night 18 Aug. Just to let you know guys is to get ready.

 I’m sorry that I can’t say anything as everyone is under total NDA now and soon I will be as well. That opera will be release any day now. Thank you for all the support you have all given me as this is one of the most hardest things that I have done in my life as it has control our way of life for years and played with our emotions. 

We have seen so many of our compatriots that did not make it and thankfully their family will cross the finish line for them. During this journey I never thought that I was going to be attacked viciously and even to this day the attacks are still continuing. 

I know within my heart that I’m doing God’s work and that too many of you are suffering and you need hope and a messenger to know what is going on. As soon as I’m under NDA you won’t hear from me anymore but my job has been completed and I can leave with good conscience that I have done everything possible to help you. The opera will be release once I receive the green light.

 Don’t forget the Get Together in February 2025 here in Sydney as we are planning to have the biggest party that Sydney has ever held with all these patriots coming from so many countries. Remember that it’s going to be a gala night and so wear your best clothes everyone. I’ll let you all know the day and the address of the Get Together. Love you all. Your friend Wolverine.”


 Thurs. 15 Aug. 2024 Wolverine

“Exciting things happened today but I’m not allowed to say what. People are expecting something Sun. night 18 Aug. I hope to have some good news for the Tier4b Group tomorrow Fri. 16 Aug.”

--

WOLVERINE

  • Wed. 14 Aug. Wolverine: “Things are happening that are confidential and I cannot discuss, but I hope to have absolutely great news for you tomorrow.”
    --

    WOLVERINE

    • Mon. 12 Aug. 2024 Wolverine
    •  “My friends this is the week of miracles as the Precatorias are now very close to be release now and we should have more miracles from other platforms as well. I’m still a firm believer that this week the opera will be release. God bless you all.” Wolverine
    ----

    WOLVERINE LIVE CHAT 9/8/2024: 

    That's all! It's all started! I was on a Zoom call a few hours ago at about 4am. This came in Reno: There was a meeting in Reno, a big meeting, and they discovered that many Dinars and Zim, Precatorios and other bonds were fraudulent. There is a lot of fraud. They also discovered that some of these bonds were used in terrorism. They have to check everything, many bad apples on this trip, they have all been caught. I said this before: be careful who you buy bonds from. If you buy on EBAY, it is a risk you are taking. He doesn't know if those bonds are registered or under contract. They are not authenticated. An expert has to review them at the exchange center to authenticate them. And they may say, "Sorry, your bonuses aren't real, they're worthless." There are drug brokers selling bonds for $60, for example, but they are not authenticated. So if you go to EBAY and buy Yellow Dragon bonds for 12 dollars, thinking you saved money. 

    When you go to the redemption center and have loose bonds, Yellow Dragons, German bonds, etc., loose bonds, NOT boxes, they will go through the expert process to be authenticated. If they are not real, they will reject you. I have always been honest with you about purchasing through the correct channels. 

    We have experts with our Yellow Dragon Bonuses. We have attorneys, and all bonds have been authenticated, placed under contract, registered and everything is ready to go. The boxes are all sealed. Our whale can't open them. This happens to most whales, as all the boxes are sealed and cannot be opened. 


    However, this is good news as we know they are making things safe and taking care of us. They are authenticating the bonds and making sure there are good people on this journey. Also, at 3 pm Brazil time, what I have been told by several sources in Brazil, is that Tier4B was released – the notifications were released. If that's true, that will create a ripple effect from Reno and other platforms. 

    It is from two platforms in Brazil, which are San Paolo and Brasilia. 


    People have received notifications of bondholders ready to go to Reno. One person, a large bondholder, a very good friend of mine and this person, has millions of boxes... That person was notified. They are flying to Reno tomorrow and I was elated for that person. 

    Another person who lives here in Australia was notified that they will have to fly to Brazil to prepare the Medbeds. Medbeds are ready! Medbeds are real!

    So everything is ready for this month: the month of August is the month of our blessing. Everything comes from. 


    I received another call from a platform, elated, shouting Hallelujah – They received the call that on August 15 their funds will be released. 

    Precatoria – it is taking a little longer. All funds will go to QFS accounts. They are waiting to get the green light. 

    I was on a Zoom call with my platform a few minutes ago, which came to me via audio of Skye saying that you will receive a Q phone when you go to your Medbeds, and also a replicator, but these are people who have humanitarian projects. That's great! 

    If there are no projects, you will receive them later.

    A replicator is like a microwave that does everything. I'm sure you've seen the videos. They are huge and you will probably have to install them in your house. 

    Things are definitely happening. 

    Furthermore, I have been in contact with the next politician of my country in Chile. He has a huge humanitarian project: a railway system from Chile to Brazil that costs billions of dollars and he will be able to do it, and he has people designated to do it and he has shown me the map. He is a good Christian and conservative. He is no longer a politician because it is a corrupt system.

    TRANSLATION IN SPANISH

     CHAT EN VIVO DE WOLVERINE 8/9/2024: 

    ¡Eso es todo! ¡Todo ha comenzado! Estuve en una llamada de Zoom hace unas horas aproximadamente a las 4 a.m. Esto llegó en Reno: Hubo una reunión en Reno, una gran reunión, y descubrieron que muchos bonos Dinars y Zim, Precatorios y otros eran fraudulentos. Hay mucho fraude. También descubrieron que algunos de estos bonos se usaron en terrorismo. Tienen que verificar todo, muchas manzanas podridas en este viaje, todas han sido atrapadas. Dije esto antes: tenga cuidado a quién le compra bonos. Si compra en EBAY, es un riesgo que está tomando. No sabe si esos bonos están registrados o bajo contrato. No están autenticados. Un experto tiene que revisarlos en el centro de canje para autenticarlos. Y pueden decir: "Lo siento, sus bonos no son auténticos, no valen nada". Hay corredores drogadictos que venden bonos po...FOR READ MORE: https://dinarevaluation.blogspot.com/2024/08/latest-from-wolverine-15-august.html

When Will the RV/GCR Happen?

The Significance of the Triennial Budget for Foreign Companies as Perceived by the Iraqi Parliamentary Finance Committee, 19 AUGUST

The Significance of the Triennial Budget for Foreign Companies as Perceived by the Iraqi Parliamentary Finance Committee

The head of the Iraqi Parliamentary Finance Committee, Atwan Al-Atwani, recently emphasized the importance of the triennial budget to foreign companies during a meeting with a delegation from the US Embassy in Baghdad.  This statement underscores the budget's role in shaping the country's economic landscape and its potential impact on foreign investment.

The Role of the Finance Committee in Budget Law Oversight

Al-Atwani highlighted the Finance Committee's responsibilities in monitoring the implementation of the General Budget Law, particularly focusing on provisions that aim to maximize non-oil revenues and support the private sector and investment.  This oversight ensures fiscal policies align with national goals and attract foreign investment by creating a stable and predictable economic environment.

The Triennial Budget as an Economic Message

The triennial budget serves as a strategic tool for communicating Iraq's economic intentions and priorities to the international community. Al-Atwani's remarks suggest that the budget's provisions on non-oil revenue and private sector support are intended to signal Iraq's commitment to diversifying its economy and fostering an investment-friendly climate.   This could potentially attract foreign companies looking for opportunities in a market undergoing economic reforms.

Implications for Foreign Companies

For foreign companies, the triennial budget's emphasis on non-oil sectors and private sector development can indicate potential areas for investment. The budget's provisions, if implemented effectively, could lead to a more diversified economy, reduced dependency on oil revenues, and a more stable investment climate.   This could translate into more opportunities for foreign investors, particularly those interested in sectors such as agriculture, manufacturing, and services.

Conclusion

The Iraqi Parliamentary Finance Committee's stance on the triennial budget underscores its importance as a message to foreign companies. By focusing on non-oil revenue and private sector development, Iraq aims to attract foreign investment and diversify its economy. Foreign companies considering Iraq as a potential market should closely monitor how the budget's provisions are implemented and the broader economic reforms taking place.

sources: 



LATEST FROM FRANK26, 19 AUGUST

  Frank26 

 Question: "What are you looking for next?"  I'm looking for Sudani to come out and show the Iraqi  citizens their new currency, their lower notes in whatever fashion that he'll take.

 Frank26  

Question: "How long do you think the US Treasury will be in Iraq?  Are they staying to see the finish?" 

 IMO yes.

  Question: "As far as the training videos, are there any more subjects remaining with the RI and monetary reform that the Iraqi have not seen?

   Yes.  Right now they're teaching them about the float.  They hadn't seen that up until two days ago.

 CBI document released [Sunday] This is good.  What is the reason why we don't have the monetary reform

 Because of the corruption.  Because of the profiteering from the bad parliament political people.  

You know where they are from. 

 What has Sudani done

 Frank26  

 Sudani is working with the United States Treasury.  IMO the Untied States Treasury is sitting in the seat of the governor of the CBI where Alaq normally sits...I find this to be a catalyst to see the Untied States Treasury there.  I'm very excited about what's going on...

Frank26  

The United States Treasury, Federal Reserve, they showed up...What do you think that means?  You think they're going to sit there and allow them to be lackadaisical, to be lazy, just to take your time No.  The Untied States of America works on a nano second...I find it very encouraging to speed up the monetary reform process.


  Who is the new CBI governor It is the US Treasury IMO that is now the governor of the CBI. 
 Why?  What is the governor of the CBI
 Just a figurehead.  
Does he make any decisions No.  Does he have any authority?  No.  Does he ..FOR READ MORE: https://dinarevaluation.blogspot.com/2024/08/rv-update-by-frank26-13-august.html

Zimbabwe's Gold ZiG The Future of Globa 2024 08 02

Cabinet approves ‘new’ bank lending strategy, 19 AUGUST

 Economy News – Baghdad

The Iraqi government on Sunday approved a “new” bank lending strategy to attract domestic and foreign investors and finance nearly 100,000 projects.

The Prime Minister’s Information Office said, in a statement seen by “Economy News”, that “Al-Sudani chaired, today, Sunday, the thirty-fourth regular session of the Council of Ministers, in which the latest developments in the country were discussed, and a number of economic and service issues were discussed, as well as the topics on the agenda and the necessary decisions were taken on them.”

He added that “the Council of Ministers approved the national strategy for bank lending prepared by the Central Bank of Iraq, including the recommendations and programs proven therein, within the framework of the government’s vision of economic reform, and the revitalization of the investment and development movement in the country.”

The statement continued, “The strategy aims to stimulate the growth of the Iraqi private sector by improving the business environment, attracting domestic and foreign investors, increasing the credit granted to it from non-oil GDP by 2029, as well as increasing credit for small enterprises from non-oil GDP, and financing nearly 100,000 projects.”


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Added 2024/08/18 – 9:02 PM

https://economy-news.net/content.php?id=46460