The subsequent [After New York] visit to Washington D.C. was most likely to prove to the UST that the rogue, non-compliant banks in Iraq were brought to heel. I see an RV in the near future and I must say, it's about time.
Fnu Lnu
...Crazy rumor is that the Dinar will be constant or fixed "In Country", but will float for the rest of the world. This is not true. The species of note in country will be the smaller denomination ONLY.
However, the species of note for the rest of the world will include the three zero notes which will bear the same exchange rate. The only difference is that it will be multiplied by the thousands. (Three Zeros)
There will be NO LOP!
It has been repeatedly stated that both species will co-exist for a period of ten years. Nothing has changed since I was told this 14 years ago.
Why these rumors start to surface periodically, usually when the RV seems to be imminent, is a mystery to me.
In September 2024, the government, under the leadership of Yasser Al-Awadi, emphasized its commitment to fighting corruption and ensuring that the law is upheld and enforced at all levels. This dedication to transparency and accountability is crucial in maintaining public trust and fostering an environment conducive to sustainable development and economic growth.
The Al-Awadi government is not alone in its efforts. It is part of a global movement, as evidenced by the 17th Meeting of the Working Group on the Fight Against Corruption and Money Laundering held in the United Arab Emirates in September 2024. This international collaboration underscores the shared belief that corruption is a global issue requiring a concerted response.
Strengthening Institutions and Transparency
In line with the theme of the 14th Annual Conference of Heads of Anti-Corruption Agencies in Commonwealth Africa, "Strengthening Institutions and Promoting Transparency: A Means of Fighting Corruption in Commonwealth Africa," the Al-Awadi government is focusing on institutional reforms. By enhancing the capacity of anti-corruption agencies and promoting transparency, the government aims to reduce opportunities for corruption and increase public confidence in the administration.
Private Sector and Civil Society Engagement
Recognizing the importance of a multi-sectoral approach, the government is also working to increase the involvement of the private sector and civil society in anti-corruption policies.
This inclusive strategy ensures that the fight against corruption is not solely the responsibility of the government but is a collective effort involving all segments of society.
Innovative Strategies and Capacity Building
To effectively tackle corruption, the Al-Awadi government is developing innovative training programs and technical assistance initiatives. These measures are designed to equip public officials with the necessary skills and knowledge to combat corruption in their respective domains.
The Role of Transparency in Public and Private Sectors
Transparency is a key component of the government's anti-corruption strategy. By promoting transparency in both public and private sectors, the government is working to create a culture of integrity and accountability. This is crucial in building a society where corruption is not tolerated and where citizens can have confidence in their institutions.
Conclusion
The Al-Awady government's fight against corruption is a multifaceted effort that involves international cooperation, institutional strengthening, private sector engagement, and innovative capacity-building strategies. Through these initiatives, the government seeks to create a more transparent and accountable system that benefits all citizens.
FRANK26: "THE SUCCESS OF THE MONETARY REFORM DEMANDS THIS"..........F26
Al-Awady: The government stresses the need to continue fighting corruption and all forms of violations of the law
9/1/2024
Government spokesman Bassem Al Awadi said today, Sunday, that the government stresses the need to continue fighting corruption and all forms of violations of the law, in continuous and close cooperation with the judicial and legislative authorities.
Al-Awadi said in a statement received by {Euphrates News} that "the government is following up, based on its commitment and legal responsibilities, the misleading campaigns that aim to obstruct its work in various fields, including what was reported of inaccurate information that contains innuendo, and some of which included direct accusations against the government regarding issues that are currently under judicial review," stressing that "the executive authority is awaiting what it will issue in this regard, with the government's continued emphasis on adhering to the law and respecting judicial decisions."
He added, "The government stresses the need to continue fighting corruption and all forms of infringement of the law, in continuous and close cooperation with the judicial and legislative authorities. It also relies in this regard on the vigilance and awareness of the citizen so that he does not fall victim to those who distort the facts and deliberately mislead public opinion."
Al-Awadi pointed out that “there are those who are working to drag the government and distract it from its national approach through desperate attempts that do not stand up to the real and actual legal procedures that the government is working to implement and support.” The past two years of the government’s term have proven the strength of the will in this direction, and the continuous determination to implement reforms and not to be lenient in public rights, no matter the pressures and consequences.
The Iraqi Ministry of Finance revealed...the country's financial revenues in 5 months surpassed 54 trillion dinars, approximately $41.3 billion.
Wow.
Data released by the Finance Ministry for the months of January, February, March, April and May 2024 showed oil exports are still the main resource for Iraq's general budget representing 89%...Non-Oil revenues were 6.78 trillion dinars, approximately $5.2 billion...
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Sandy Ingram
...Important reason the IQD is not on the Forex Market is that the Central Bank of Iraq has implemented certain restriction on the exchange and trading of the Iraqi dinar, making it less accessible for Forex Traders...Will the CBI change these restrictions and allow the IQD to be traded in the Forex market?
[We] do not have an answer to this question. We hope so.
Sandy Ingram
Building and growing your financial bases will be easier when you have money...The name of the game to replenish your wealth means that you invest in positive cash flow business ventures even if you go out and buy a Pizza Hut just as long as it has a positive cash flow to help support your lifestyle that you would like to live in.
You replenish your wealth by investing in business ventures that will bring you moremonthly income. That's how you maintain and generate and grow your wealth.
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Sandy Ingram
Iraq just delayed the US group exit. It's a big deal. Iraq has chosen to delay the announcement of a departure date for the US-led military coalition.
This comes amidst escalating tensions between Israel and Iran...Currently around 2,500 US troops remain in Iraq...This delay in setting a withdrawal date underscores the Iraqi government's challenging position amidst internal and external pressures. Stay tuned for more updates as this situation continues to unfold.
Sandy Ingram
Research says 70% of all lottery winners are broke within 3 to 5 years after they win the lottery. These numbers are almost as high for ex-NFL football players who once they are no longer playing football go broke... They're doing exactly what I am strongly recommending you don't do. They are living off their winnings. You want to get into a mindset of replenishing your wealth. It will be easier to build more wealth once you have wealth. Money begot money. Money attracts money.
Sandy Ingram
The news from the Middle East has gone haywire. There appears to be consistent and organized misinformation coming out of the Middle East. [I] will do everything in [my] power to report correct and confirmed news reports...
Sandy Ingram
Iraq did not follow Kuwait's revalue path. The Untied States pulled back on financial support for Iraq's revalue shortly after the invasion was over when they made the decision that were not in alignment with economic growth for Iraq. It's been 20 years and the currency still has not been revalued...
We are learning more about why including issues like the IMF will not support a currency adjustment until the county has more income streams outside the oil industry, implementing banking reform that ties into international banking standards and providing housing for the hundred of thousands of people who have been misplaced due to decades of war, not to mention...corruption.
Sandy Ingram
Question: "How is Iraq going to do business in the international market with such a low currency rate?"
This is why Iraq will need to increase the value of its currency. Currency values... act as a silent force influencing a country's global competitiveness. When a country's currency value is low it can impact it's ability to compete...Iraq's top trading partners are China, India, South Korea and on the sidelines Iran. However things are about to change and fast. The development road project places Iraq right in the middle of the global financial markets. [We] have little doubt the Iraqi dinar will increase in value but we don't know when or how much.
A major financial change in Vietnam...Decree 52 regulates non-cash payment in Vietnam and will significantly alter Vietnam's financial landscape...Decree 52 marks a significant milestone in Vietnam's journey towards a cashless economy. If you have VND bank notes you will need to find out how you can comply with Decree 52 as a foreigner. [We] will research the topic and report back as soon as we understand the procedure. According to the news report the banks have 24 months to comply...
Understanding the Fluctuation of Gold Prices in Iraq as of September 2024
Gold, a timeless precious metal, has always held a significant place in the global economy, serving as a safe haven for investors and a store of value during times of economic uncertainty. In Iraq, the story of gold price fluctuations in September 2024 is no different, influenced by a complex interplay of global factors rather than internal dynamics.
Global Influences on Gold Prices in Iraq
Central Bank Purchasing Trends
One of the most notable global drivers of gold's price surge has been the aggressive purchasing by central banks worldwide. Many countries seek to diversify their reserves, often turning to gold as a safe and stable asset.
Investment Strategies and Economic Indicators
The price of gold is highly sensitive to global economic conditions. Inflation rates, interest rate environments, and geopolitical tensions all impact gold's appeal as a safe haven investment.
Commodity Market Dynamics
Gold, as a commodity, is subject to global market forces. Supply and demand, influenced by factors such as industrial usage, jewelry demand, and speculative investment, drive its price fluctuations.
Iraq's Perspective on Gold as a 'Safe Haven'
Iraq's financial and economic advisor, Mazhar Salih, highlights that gold has historically been a safe haven for preserving wealth's purchasing power. The Iraqi government encourages the import of gold, recognizing its role in wealth preservation at both state and individual levels.
Gold Prices in Iraq: Historical and Current Trends
As of September 2024, the price of gold in Iraq has been rising, influenced by global trends. Data from the International Monetary Fund shows that Iraq's gold reserves have also seen a significant increase, with the country holding approximately 148 tons of gold, constituting 10% of its foreign currency reserves.
Conclusion
The fluctuation of gold prices in Iraq during September 2024 is a reflection of broader global economic forces and investment strategies, rather than isolated domestic factors. As a globally traded commodity, gold's price is influenced by an array of international dynamics, from central bank purchasing to economic indicators and broader market conditions.