Wednesday, September 25, 2024
MP: Iraq Is Heading Towards “Major” Economic Changes And A Global Urban Revolution, 25 SEPT
Construction and reconstruction Economy News – Baghdad MP Sharif Suleiman praised, on Tuesday, the visit of Prime Minister Mohammed Shia al-Sudani to New York to participate in the 79th session of the United Nations, stressing that Iraq is qualified to control "important" files and is on the verge of "major" economic changes and an urban revolution in line with global developments.
Suleiman said, "Iraq's participation in the work of the United Nations General Assembly is a positive step, especially in light of the difficult conditions the region is going through."
He added, "Iraq has geographical and strategic qualifications that enable it to control important economic, political and security files," noting that "Iraq is on the verge of major economic changes and is leading an urban revolution in line with global developments."
Suleiman said, "This participation is an opportunity for Iraq to enhance its international presence and highlight its role in resolving regional conflicts and contributing to the stability of the region. Iraq also seeks, through these meetings, to strengthen its relations with major countries and attract more investments to support its development plans." https://economy-news.net/content.php?id=47961
The Iranian Rial is Going to be in the 1st Basket by ARIEL, 25 SEPT
𝙃𝙤𝙩 𝙊𝙛𝙛 𝙏𝙝𝙚 𝙋𝙧𝙚𝙨𝙨
𝙏𝙝𝙞𝙨 𝙞𝙨 𝙖 𝙝𝙪𝙜𝙚 𝙙𝙚𝙖𝙡. 𝘽𝙚𝙘𝙖𝙪𝙨𝙚 𝙞𝙛 𝙮𝙤𝙪 𝙝𝙖𝙫𝙚 𝙄𝙧𝙖𝙣𝙞𝙖𝙣 𝙍𝙞𝙖𝙡𝙨 𝙮𝙤𝙪 𝙬𝙞𝙡𝙡 𝙗𝙚 𝙫𝙚𝙧𝙮 𝙝𝙖𝙥𝙥𝙮 𝙬𝙞𝙩𝙝 𝙩𝙝𝙞𝙨 𝙩𝙪𝙧𝙣 𝙤𝙪𝙩. 𝘽𝙚𝙘𝙖𝙪𝙨𝙚 𝙩𝙝𝙚𝙮 𝙬𝙞𝙡𝙡 𝙗𝙚 𝙗𝙖𝙘𝙠 𝙤𝙣 𝙩𝙝𝙚 𝙞𝙣𝙩𝙚𝙧𝙣𝙖𝙩𝙞𝙤𝙣𝙖𝙡 𝙢𝙖𝙧𝙠𝙚𝙩 𝙖𝙡𝙤𝙣𝙜 𝙬𝙞𝙩𝙝 𝙄𝙧𝙖𝙦. 𝘼𝙡𝙡 𝙗𝙤𝙖𝙩𝙨 𝙧𝙞𝙨𝙚 𝙬𝙞𝙩𝙝 𝙩𝙝𝙚 𝙩𝙞𝙙𝙚. 𝙋𝙚𝙤𝙥𝙡𝙚 𝙝𝙖𝙫𝙚 𝙗𝙚𝙚𝙣 𝙬𝙖𝙞𝙩𝙞𝙣𝙜 𝙮𝙚𝙖𝙧𝙨 𝙛𝙤𝙧 𝙖𝙣 𝙖𝙣𝙣𝙤𝙪𝙣𝙘𝙚𝙢𝙚𝙣𝙩 𝙡𝙞𝙠𝙚 𝙩𝙝𝙞𝙨. 𝙎𝙤 𝙮𝙤𝙪 𝙣𝙚𝙚𝙙 𝙩𝙤 𝙠𝙚𝙚𝙥 𝙪𝙥 𝙬𝙞𝙩𝙝 𝙩𝙝𝙚𝙨𝙚 𝙙𝙚𝙫𝙚𝙡𝙤𝙥𝙢𝙚𝙣𝙩𝙨. 𝘽𝙚𝙘𝙖𝙪𝙨𝙚 𝙄𝙧𝙖𝙣𝙞𝙖𝙣 𝙍𝙞𝙖𝙡 𝙞𝙨 𝙜𝙤𝙞𝙣𝙜 𝙞𝙣 𝙩𝙝𝙚 1𝙨𝙩 𝙗𝙖𝙨𝙠𝙚𝙩 𝙛𝙧𝙤𝙢 𝙬𝙝𝙖𝙩 𝙄 𝙥𝙧𝙚𝙨𝙪𝙢𝙚 𝙞𝙨 𝙞𝙣 𝙖𝙡𝙞𝙜𝙣𝙢𝙚𝙣𝙩 𝙬𝙞𝙩𝙝 𝙬𝙝𝙖𝙩 𝙄𝙧𝙖𝙦 𝙞𝙨 𝙙𝙤𝙞𝙣𝙜.
On August 8th 2023 Iran = got $10 billion of assets after deal with US. Iran-US agreed the release of American-Iranian dual nationals, as well as unblocking Tehran’s $10 billion frozen assets in South Korea and Iraq. This is why I presume they were doing this so they can be ready to go international in conjunction with Iraq. They have been preparing just as Iraq was.
Reports state the 1st Basket Contains:
Afghanistan Afghani (AFN)
Kuwait I Dinar (KWD)
US Dollar (USD)
Russian Ruble (RUB)
Chinese Renminbi or Yuan (CNY)
UK British Pound/Pound Sterling (GBP)
Qatar I Rial (QAR)
UAE Emirate Dinar (AED)
India Rupee (INR)
Indonesian Rupiah (IDR)
Canadian Dollar (CAD)
Mexican Peso (MXN)
Venezuela Bolivar (VEB)
Brazil Real (BRL)
Saudi Arabia Riyal (SAR)
Malaysian Ringgit (MYR)
Iranian Rial (IRR)
Iraqi Dinar (IQD)
Vietnamese Dong (VND)
Zimbabwe ZIM/Bond.
Hungarian Pengo also included
More will continued to be added
These articles are just repeating the same over and over with different headings from different news channels by MNT GOAT, 25 SEPT
CENTRAL BANK GOVERNOR: ACTIVITIES OF SANCTIONED IRAQI BANKS CONTINUE IN ALL CURRENCIES EXCEPT THE DOLLAR
(These articles are just repeating the same over and over with different headings from different news channels.)
The Governor of the Central Bank of Iraq, Mohsen Al-Alaq, confirmed today, Saturday, the reduction of reliance on the US dollar in commercial transactions, adding that the project to delete zeros in Iraq is subject to continuous review and study in the bank.
Countries remove zeros from their currency to revalue their 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.
Al-Alaq said, in an extensive interview with Al Jazeera Net, which was followed by “Iraq Observer”, that “the Central Bank responded to global economic challenges, such as rising energy and raw material prices, by amending some monetary policies in line with the international situation and to enhance confidence in the Iraqi dinar and prevent a sharp decline in its value.”
He added, “The Central Bank of Iraq has increased its holdings of foreign exchange and gold reserves to strengthen the country’s financial position and financial stability in order to enhance its ability to confront potential economic crises. ”
Regarding the steps taken to address the dollar’s rising crisis, Al-Alaq said, “The Central Bank of Iraq has created new mechanisms to cover local banks’ accounts with their senders in other currencies (Chinese yuan, Indian rupee, euro, and UAE dirham) in addition to the dollar, which has reduced reliance on the US currency in commercial transactions for these banks’ clients, while the Central Bank seeks to withdraw excess liquidity in the economy that puts pressure on the exchange rate and to prevent the exported currency from growing in an undesirable manner.”
Regarding the country’s foreign reserves, the Central Bank Governor explained that “foreign exchange reserves are the tool used by all central banks to maintain the stability of the local currency exchange rate against foreign currencies, as well as to reduce exposure to external crises by maintaining liquidity in foreign currency to absorb shocks in times of crisis.”
“According to the latest data on the level of foreign reserves adequacy, the Central Bank of Iraq’s foreign reserves cover 83.62% of the broad money supply, i.e. covering the cost of importing 15 months, while the global standard rate is 20%, covering 6 months of importing,” according to Al-Alaq.
He pointed out that “the sanctions imposed on banks are related to the decision to ban dealing in dollars, as the banks were not included in the sanctions list issued by the Office of Foreign Assets Control, and therefore the banks’ activities continue, according to the applicable procedures and in all currencies except the dollar.”
Regarding the situation of the Iraqi banking sector, Al-Alaq said that it “is experiencing a state of stability, as government banks still control approximately 79% of the assets of the total banking sector, compared to 21% for private banks.
RV UPDATE BY FNU LNU,, 25 SEPT
Fnu Lnu
I would like to assure the Dinar investor community of a couple of things. There comes a time when common sense and logic must prevail.
There will be NO travel necessary to exchange your Dinar for American dollars (USD). You will not have to go to Jordan, Egypt, or Syria. There will be NO $0.10 revaluation.
It was already at the rate of $3.22 to 1 Dinar when the only resource was oil. Dr. Shabibi, the preeminent expert, stated publicly, that Iraq could sustain an $16 to 1 Dinar rate but let's not get greedy. $4.80 is just about right.
Stay tuned because I will have a mind bender coming for you next time and it will really make you think.
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