Monday, September 30, 2024

The Central Bank Of Iraq Issues A Warning To Exchange Companies Regarding The Sale Of Dollars, 30 SEPT

The Central Bank Of Iraq Issues A Warning To Exchange Companies Regarding The Sale Of Dollars

Banks  Economy News – Baghdad  The Central Bank of Iraq warned, on Sunday, exchange companies that sell travelers' dollars from receiving a commission exceeding 25 thousand dinars.

According to a document issued by the bank and obtained by "Al-Eqtisad News", it is: "Through auditing and monitoring the work of your companies regarding the sale of dollars allocated to travelers, it was noted that some exchange companies collect a commission from traveling citizens in the amount of (50,000) dinars (fifty thousand dinars), and this violates the content of our circular No. 8003/1/9 dated 7/11/2024, as we previously directed you to collect a commission of (25,000) dinars (twenty-five thousand dinars only) from the citizen when he carries out the process of purchasing dollars.

She added: "In order to proceed with the mechanism that was launched to facilitate procedures for citizens in a correct and smooth manner, we hope that you will adhere to the directives issued by this bank, otherwise it may lead in the future to your companies being excluded from participating in the foreign currency buying and selling window."

Below is the document:

https://economy-news.net/content.php?id=48129

"IT'S OVER, IT'S DONE" BY TNT, 30 SEPT

TNT
Sun. 29 Sept. 2024 TNT Tony

 “Guys, it’s over. It’s done. And yes, I know something you don’t.” 

On Fri. 27 Sept. TNT Tony reported, Yesterday Bank Managers received memos stating that the currency event was finished and we would see it no later than Tues. morning 1 Oct.

SOME EXCERPTS & SUMMARY OF RECENT POST OF MNT GOAT: IRAQI DINAR RV THIS ...

“Iraq and entire region too volatile for coalition exit”, Talaat argues, 30 SEPT

 "The withdrawal of U.S. and coalition forces would cause a disaster in Iraq and the region. The Iraqi army and security forces are not capable of dealing with threats independently," he underscored.

ERBIL (Kurdistan24) – Abdulkhaliq Talaat, the Kurdistan Region's representative for the Ministries of Peshmerga and Interior in joint operations, warned that Iraq's military lacks the necessary equipment and weaponry, making the withdrawal of U.S. and coalition forces from the country a potentially disastrous move.

In an interview with Kurdistan24, Talaat stated, "The withdrawal of U.S. and coalition forces would cause a disaster in Iraq and the region. The Iraqi army and security forces are not capable of dealing with threats independently."

He emphasized that no commander or soldier in the Iraqi army supports such a withdrawal, citing inadequate military equipment.

"The situation in Iraq and the region does not allow for the withdrawal of American and coalition forces," Talaat added, stressing the importance of their presence.

He further revealed that only one U.S. command remains at the Ain al-Assad military base, which is slated to evacuate and relocate its personnel to Erbil.

Regarding the relocation of U.S. forces to Erbil, Talaat noted, "The arrival of U.S. forces from Ain al-Assad to Erbil is crucial for safeguarding American interests in the region."

On Friday, the U.S. Department of State released a joint statement by the governments of the United States and Iraq, detailing the timeline for ending the global coalition's military mission to defeat ISIS in Iraq.

The statement underscored the strategic relationship between Iraq and the U.S. and outlined the following points:

1. The Coalition’s military mission in Iraq will conclude by September 2025, transitioning to bilateral security partnerships that support Iraqi forces while maintaining pressure on ISIS.

2. The Coalition's mission in Syria, critical for preventing the resurgence of ISIS, will continue until September 2026, depending on ground conditions and further consultations.

3. The Higher Military Commission will devise procedures to ensure the protection of coalition advisors in Iraq during the transitional period, in line with Iraq's constitution and laws.

Briefing Leaves Questions Unanswered

Despite efforts to clarify the status of U.S.-Iraq discussions regarding Operation Inherent Resolve, journalists were left with many unanswered questions about the specifics of the agreement.

Read More: US Officials: “United States is not Withdrawing from Iraq’

It was confirmed that while the Coalition's mission in Iraq will end in 2025, its presence in the Kurdistan Region will extend until at least 2026, reflecting the continuing threat posed by ISIS in Syria.

A senior U.S. official highlighted the importance of the Coalition's work in Syria, with the Kurdistan Region serving as a supply base for forces combating ISIS there.

The extension of the Coalition's presence in Erbil also provides flexibility should the situation in Iraq deteriorate, allowing for a potential surge of troops back into the country.

Kurdish leaders, including Masoud Barzani, head of the Kurdistan Democratic Party (KDP), have welcomed the continued presence of coalition forces.

Barzani, during a meeting with U.S. Ambassador to Iraq Alina Romanowski, emphasized the national importance of their presence, transcending party lines and contributing to Iraq's stability.

Read More: KDP President Masoud Barzani meets with US Ambassador to Iraq

The U.S. is Transitioning, Not Leaving Iraq

The senior U.S. officials underscored that this is not an exit but a transition, describing it as an evolution of the military mission in Iraq.

Read More: US: Talks with Iraq on ‘Transition’ from Coalition to Bilateral Security Relations are ‘Ongoing’

"While ISIS is weakened, they are not eliminated," one official explained, reiterating that U.S. forces will continue to work with both Iraqi and Kurdish Peshmerga forces to ensure ISIS's enduring defeat.

Details regarding the future number of U.S. troops and their base locations remain under discussion. However, it is clear that the U.S. military presence in Erbil is vital for supporting the ongoing fight against ISIS in Syria and maintaining a strong partnership with the Kurdish Regional Government.

RV UPDATE BY SANDY INGRAM, 30 SEPT

 Sandy Ingram  

One significant difference between Iraq and many other developing and established countries is Iraq's consistent willingness to pay down debt.  

Iraq's foreign debt has now fallen to below $10 billion dollars according to Saleh, financial advisor to the Iraqi Prime Minister...Provisions have been set aside...to ensure these obligations are met...These external debts are largely tied to the Paris Club Agreement .


..Iraq is on track to fully pay these obligation by 2028. 

 Saleh highlighted the importance of Iraq's relatively low level of foreign debt, noting it has significantly improved the country's financial standing in the eyes of global credit rating agencies, including the US based S & P. 

Summary of THE HISTORIC DINAR REINSTATEMENT WOW!! @DINARREVALUATION

RV UPDATE BY KAPERONI, 30 SEPT

  Kaperoni 

  This is a good quote from that article "The expected path of the Iraqi economy

 Quote: "The most important indicator, in my opinion, is that despite all the attempts to put obstacles in the way of economic development, intentionally or unintentionally, 

the government is moving forward with its program, leaving all attempts at obstruction in its wake, and this is one of the secrets of success and the key to hope."