Recent developments in Iraq’s financial sector, including the implementation of a new banking system, currency diversification, and Iraq’s leadership role in international forums.
Iraq is set to chair the Group of 77 in China, marking a significant diplomatic milestone after 60 years.
A comprehensive banking system is being implemented in 40 branches, signaling readiness for international engagement.
The Central Bank is diversifying currency use, aiming to reduce reliance on the dollar.
Upcoming distribution of retirees’ salaries suggests potential changes in exchange rates.
Increased participation of Kurdish traders is contributing to a decrease in the dollar’s exchange rate.
Iraq participates in the meeting of the Arab Economic Council
The Arab Economic Committee is scheduled to begin its work today, Monday, to prepare for the 114th session of the Arab League's Economic and Social Council, which will be held at the ministerial level next Thursday, with the participation of the Minister of Trade, Athir Dawood Salman Al-Ghariri.
Iraq will be represented in the meetings of the Economic and Social Council by two delegations, the first from the Ministry of Labor, which will attend the meetings of the Arab Social Committee, while the second delegation will be from the Ministry of Trade and will participate in the meeting of the Economic Committee.
The Arab Social Committee held its meeting yesterday, Sunday, with the participation of a delegation from the Ministry of Labor and Social Affairs, and a number of decisions were submitted to the Council. The ministerial meeting of the Economic and Social Council next Thursday, in which the Minister of Trade will participate, will be preceded by a meeting of senior officials in the Council the day after tomorrow, Wednesday.
Assistant Secretary-General and Head of the Social Affairs Sector, Ambassador Dr. Haifa Abu Ghazaleh, stated that the 114th session of the Economic and Social Council began its work with the Council's Social Committee. Abu-Ghazaleh added that the Social Committee reviewed the report of the Secretary-General of the League of Arab States, which included all the efforts and activities that took place between the two sessions of the Council in various sectors of joint Arab social and development work.
She continued that the report focused on continuing to implement the social dimensions of the 2030 Sustainable Development Plan, supporting vulnerable groups in society, and other activities related to persons with disabilities and the elderly, health, youth, women, family and childhood, population policies, civil society and human rights, migration and expatriates, education, scientific research, culture and dialogue of civilizations. link
And how it is going to play out based on the news we were seeing right now
Follow the thread, and you would understand
-first, we know the Dollar has been set to collapse this September
The decision was made last year 2023
Second, Iraq bought a lot of dollars but it seems like they do not have enough Dinar against it to cover up the values and expenses so they claimed they will turn on the printer… if they did, it will cause huge inflation
Then Iraq claimed they will sell their oil with Dinar instead of the dollar… but first they need to back up the dinar with gold… which means they cannot turn on the printer if it is backed up by gold… because that is a huge problem by itself beside inflation
After that, they admitted they will not print more notes… because if they’re gonna back up the currency with gold… they cannot print more notes…
They will be forced to change the rate to cover the expenses they have for all the ministries and salaries at the end of September
Also, Iraq finished training new people for exchanging currencies as it was required by an official letter from the CBI a month ago
Here Iraq is going international
By allowing their banks to make Cross border payment with different currencies, other than the dollar
Plus joining Visa, MasterCard, MoneyGram
That works on XRP and XLM
Also, it came on the news that Iraq had an agreement with US to pull USA military out of Iraq by September
This agreement happened at the beginning of July
But Trump stated there will not pull out of Iraq unless they are getting paid
If Iraq right now in deep shit because they cannot cover up the expenses of their ministries and citizens salaries
How are they going to pay these military people?
They have to change the rate to be able to pay off everything
Finally, you gotta understand
Iraq in a deep shit financially they will be forced to change the rate to pay off everything and back their currency with gold
Also, BRICS meeting on Oct any country wants to join BRICS they have to ditch the dollar aside
🔥 we are close as f—-🔥
Last thing, Kuwait had their money backed by gold b4 the Gulf war
Then, after the war, they backed it to the old rate before the war, because it is the same currency that is backed by gold before & after the war
Iraq will do the same & bring the old rate before the war $3.22
Here is the proof of US military withdrawing out of Iraq beginning this September and end on September 2025
As Trump stated … none of the troops will get out unless they are getting paid
The rate has to change this month, so the troops can start withdrawing and be paid
🔥🔥🔥
Amazing great news
Iraq admitting that they have to back up the currency with gold by the order of IMF
Plus, the federal bank in USA admitted that there is a collapse of the dollar .
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