DINAR REVALUATION REPORT: "Strong Economy, Strong Dinar" in Iraq: Insights from Economist Al-Badrani, 30 AUGUST

"Strong Economy, Strong Dinar" in Iraq: Insights from Economist Al-Badrani

As of August 30, 2024, discussions surrounding the Iraqi economy and the potential strength of the dinar continue to be influenced by various factors. 1  3  5An article titled "Strong Economy, Strong Dinar" by economist Al-Badrani offers insights into the relationship between economic stability and currency strength in Iraq.

Economic Stability and Currency Strength

Al-Badrani emphasizes the critical link between a strong economy and a strong national currency. Iraq, as a country heavily reliant on oil revenues, faces challenges in diversifying its economy and ensuring fiscal sustainability. 6 The economist argues that a diversified economy, reduced oil dependence, and fiscal adjustments are crucial for long-term economic health and the strength of the dinar.

Recent Economic Reforms

In June 2023, Iraq's parliament approved a record-breaking three-year budget totaling 198.9 trillion Iraqi dinars (approximately US$153 billion), marking the largest in the country's history and the first multiyear budget. 2 This move is viewed as a step toward addressing unemployment, poverty, and improving government services, which are key to enhancing the economy's resilience and the dinar's strength.

Challenges and Opportunities

Despite these reforms, Iraq faces significant challenges, including pervasive corruption, inadequate public services, and political instability. 1 These issues have hindered economic progress and contributed to public discontent. However, there are positive strides in human rights and governance, which could potentially create a more stable environment for economic growth. 2

Perspective on Currency Value

Critics argue that the current forex rate for the dinar does not accurately reflect the true value of the currency given Iraq's oil economy. 3 Al-Badrani's article suggests that the dinar's value is suppressed, and a more realistic rate would better represent Iraq's economic potential.

Path Forward

Al-Badrani's article highlights the need for Iraq to progress economically to strengthen the dinar. This includes private sector development, labor market reforms, financial sector modernization, and restructuring state-owned banks. 6Addressing these areas could lead to higher economic growth, a stronger dinar, and reduced vulnerability to oil price volatility.

Conclusion

The strength of the Iraqi dinar is inextricably linked to the country's economic health. Al-Badrani's analysis underscores the importance of comprehensive economic reforms and diversification to ensure long-term stability. As Iraq continues to navigate its economic challenges, the strength of the dinar will remain a key indicator of the country's overall economic performance.

STATUS OF THE RV BY MNT GOAT, PART. 1, 30 AUGUST

STATUS OF THE RV

Hello everyone. So, today is Thursday and I needed to confirm a few issues with my CBI contact in Iraq before publishing this Newsletter. This will be the only Newsletter this week. Sorry!

Yes, today’s news is mostly about what my CBI contact told me is happening in Iraq. There are no newer lower denominations in the ATMs or elsewhere. This can not and will not happen until the rate changes closer to a dollar. However, there are lower denominations being loaded in the ATMs and they are the 250, 500 and 1000 notes.

So, where these intel gurus in the USA get their information from, I do not know. Just lie this idiot TNT Tony told us he had a contact in the US Treasury tell him it was going to R for the last 10 years. Did it? This is the same US department that is now occupying an entire floor in the CBI telling us they are there to clean up the corruption with the dollar. Oh….. does this seem strange to you. I think this TNT idiot has been caught in a “Super Fantastic” lie. Yes, I have been telling all you stupid TNT followers he has been lying to you all along. He is a “scam artists” and a VERY good one. What will it take to make you believe me? Stay away from this guy and many others.

How many times already have they gotten you excited over the last 20 years? How many times are they going to tell you their bullshit!. ☹ This is FACT. Also, I was told once again the process will begin with “EDUCATION” followed by “ACTION”. Get it? Yes, we have seen some of it already but there is more to come. Also, I should not have to remind my Mnt Goat blog readers of the necessity of the parallel market to get very close, if not matching, tp the official CBI rate. We are watching for this and it has not yet reached its goals. Has it? NO it has not! So, have we seen this yet? What is all this stupid rumors and ignorant hype from all the intel gurus about the lower denominations again and the RV happening?  Yes, again. How many already did they try to lie to us? I mean mostly this idiot TNT Tony and his tiny, little, mentally deranged groupies. Where does this idiot get his intel from OR does he just make it all up? Stop it please! ☹

....TO BE CONTINUED 

https://mntgoatnewsusa.com/latest-mnt-goat-newsletter/

Evening News with MarkZ. 08/29/2024

Thursday Evening News With MarkZ 

MarkZ  Update- Some highlights by PDK-Not verbatim

MarkZ Disclaimer: Please consider everything on this call as my opinion. People who take notes do not catch everything and its best to watch the video so that you get everything in context.  Be sure to consult a professional for any financial decisions

Member: Good Evening Mark, Mods and Members

​​Member: So we are going to see another month go bye. What does September look like yes or no?

Member: I heard September is one of the best months for revaluations?  Guess we will see. 

MZ: the rumor mill has been relatively quiet without anything provable. But we have some information from the real world we can follow. 

MZ: “Iraq’s Prime Minister Mohammad Shia Al Sudani chaired a meeting of the high committee for tax reform”  So when they reviewed it they found there was a 22 % growth in tax revenues. This means the economic reforms they are working on are working . This one is really big news. 

MZ: “Saudi Arabia signs an MOU  (memorandum of Understanding) with Iraq on money laundering.” 

MZ: Bank Story today:  “Good Evening. I visited my neighborhood bank ( Will not share the bank) My teller mentioned they were running around like chickens with their heads cut off because they are in the process of learning their new banking software. I remarked QFS? She knew what I was referencing and responded with a “yes” . I asked her to check for rates on my 3 currencies- She calls the branch manager for assistance. This is the same branch manager that told me the RV was a scam months prior . The manager said WF was not contracted to exchange some currencies…WF was only contracted to exchange the Zim and dong.  I was stunned. So I inquired if that arrangement was at just this location?  They believe that contract was nationwide.”

MZ: I found this one interesting as they admitted to it. And I feel very confident they will be handling the dinar as well. 

Member: My bank has changed their name by adding Financial Services Center.

Member: If I didn’t have so much invested in this movie, I would get up and walk out.

Member: We can safely say this is the worst movie ever…..Run the credits please. 

Member: I’m praying redemption centers are working this weekend and we get to make our appointments 

Member: Everyone keep positive thoughts…..its coming

THE CONTENT IN THIS PODCAST IS FOR GENERAL & EDUCATIONAL PURPOSES ONLY&NOT INTENDED TO PROVIDE ANY PROFESSIONAL, FINANCIAL OR LEGAL ADVICE. PLEASE CONSIDER EVERYTHING DISCUSSED IN MARKZ’S OPINION ONLY

DINAR REVALUATION REPORT: Iraq's Parliamentary Committee Announces Plan to Amend Economic Laws for Trade Facilitation, 30 AUGUST

 Iraq's Parliamentary Committee Announces Plan to Amend Economic Laws for Trade Facilitation

The Parliamentary Economic Committee of Iraq revealed on August 30, 2024, its intention to amend approximately 10 economic laws. 1 The objective of these amendments is to enhance trade facilitation, simplify customs and tax procedures, support both the public and private sectors, and create a strategic roadmap for economic reform.

Enhancing Iraq's Economic Landscape

The committee's initiative aims to address and improve the current economic landscape, which has been challenged by various factors such as political dynamics and the country's reliance on oil revenue. 1 Iraq has struggled to diversify its economy and modernize its financial and banking sectors, with the private sector and foreign direct investments (FDIs) remaining underdeveloped. Corruption and the lack of basic services have also been widespread issues.

Digital Customs and Revenue Growth

In a recent move to boost trade and government revenue, Iraq launched ASYCUDAWorld, a customs automation software, in October 2023. 2 This software has been instrumental in digitalizing customs clearance processes, reducing risks of fraud, and streamlining cross-border commerce. Since its implementation, customs revenue at Baghdad International Airport has increased by over 215% between January and May 2024, compared to the same period the previous year. Import transactions also rose significantly, hitting a decade-long high.

Expansion of Digital Customs

ASYCUDAWorld is currently operational in Iraq's nine largest customs offices, which together account for 81% of the nation's international trade by volume. 2This includes customs operations on the borders with Kuwait, Jordan, and Saudi Arabia, as well as at the port of Umm Qasr leading to the Persian Gulf.

Long-term Partnership and Political Backing

The agreement to implement ASYCUDAWorld was initiated in May 2021, as part of Iraq's partnership with the Automated System for Customs Data (ASYCUDA) programme, a major technical cooperation project run by UN Trade and Development across over 100 countries. 2 The collaboration has received top-level political support, which is crucial for its success and sustainability.

Parliamentary Committee: We intend to amend 10 economic laws to facilitate trade and customs procedures, 30 AUGUST

  Parliamentary Committee: We intend to amend 10 economic laws to facilitate trade and customs procedures

 The Parliamentary Economic Committee announced today, Thursday, the existence of a project to amend about 10 economic laws, explaining that the goal is to enhance trade, facilitate customs and tax procedures, support the public and private sectors, and develop a real map for economic reform.  

Committee member Yasser Al-Hussaini said, “There is a new project that includes amendments to approximately 10 economic laws,” indicating that “the proposed amendments came after holding intensive workshops with the Businessmen’s Union and the Iraqi Businessmen’s Council, in addition to representatives from various economic sectors.” 

He explained that "these workshops aimed to absorb all visions and requirements from various economic sectors, including commercial and industrial sectors, in order to develop a comprehensive vision that achieves the required reform." 

Al-Hussaini pointed out that "the proposed project includes amendments to 10 laws aimed at enhancing trade, facilitating customs and tax procedures, and supporting the public and private sectors." 

The MP stressed that "the proposed percentage of amendments is still less than the desired level of comprehensive economic reform." 

He explained that "the committee hopes to expand the scope of the amendments to include more economic laws, reflecting the true vision of economic reform, which is not limited to meeting the requirements of the government or the private sector, but aims to develop a comprehensive vision that achieves the interests of all." 

He explained that "the law was read for the first time, and the second reading is scheduled to take place after the final vision matures through the ongoing workshops, after which the committee's report will be submitted and the law will be voted on." 

He pointed out that "this approach aims to draw a real roadmap for the long-awaited economic reform, and to ensure its compatibility with all the aspirations of the concerned parties, whether at the government or private sector level."   link

DINAR AND DONG RATES IN THE REDEMPTION CENTERS VS. BANKS, BY BRUCE, 30 AUGUST

Thurs. 29 Aug. Bruce

• On Thurs. 29 Aug. 2024 there were solid but lower bank screen rates on the Redemption Center gray screens.
• On Thurs. 29 Aug. 2024 the Global Financial System was fully implemented and ready to go.
• All the banks have been totally integrated.
• The Dinar rate was three times higher at a Redemption Center than it was at a bank.
• The Dong rate was twice as high at the Redemption Center than it was at a bank.
• Zim has to be redeemed at a Redemption Center, not a bank.
• Tier4b should be notified to set appointments on Mon. 1 Sept.
• Mortgages and credit card debt elimination was starting Wed, Thurs, Fri, 4,5,6 Sept. and will run to Sun. 15 Sept.
• R&R should kick in the first week of September.
• Global arrests are taking place right now.
• The Forex comes up Sun. at 5pm EST with the new rates.
• If you are a Zim Holder the Redemption Center will give you a coupon for a Q phone.

 

NADER FROM MID EAST: Accelerating financing private sector Iqd