Tuesday, October 1, 2024
Iraqi FM urges caution: ‘Iraq must avoid entanglement in the conflicts’, 1 OCT
ERBIL (Kurdistan24) – On Monday, Iraqi Deputy Prime Minister and Foreign Minister Fuad Hussein cautioned against the potential fallout of ongoing conflicts in the region during a ministerial meeting of the international coalition against ISIS (D-ISIS) in Washington.
Hussein stressed that Iraq must avoid entanglement in the conflicts, particularly as wars in Gaza and Lebanon could spread instability across the region.
He warned that protracted conflicts could lead to chaos, creating an environment for terrorist organizations like ISIS to exploit, further deteriorating the humanitarian situation and increasing the number of refugees.
The minister also expressed concern about the growing use of social media by terrorist groups, particularly ISIS, as a platform for spreading extremist ideologies. He called for a more comprehensive approach to fighting terrorism, which includes not only ground operations but also efforts to counter the spread of radicalism online.
Hussein emphasized the need for coalition members to coordinate closely, particularly in monitoring and controlling social media platforms, to prevent them from becoming tools for terrorist recruitment and propaganda.
In his remarks, Fuad Hussein underscored the importance of international cooperation to defeat ISIS in all arenas, both physical and digital, to ensure a lasting victory over terrorism.
On Sunday, the Kurdistan Region’s Presidency issued a statement expressing deep concern over the rapid military developments and escalating tensions in the Middle East.
The Presidency warned that the current situation poses a grave threat to the security and stability of the region. It further cautioned that the continuation of such escalations will inevitably lead to more tragedies and widespread destruction.
Read More: Kurdistan Region's Presidency expresses concern over Middle East escalation, calls for restraint
In its call for peace, the Kurdistan Region’s Presidency urged all parties involved to exercise wisdom and self-restraint in order to prevent further deterioration of the situation and to safeguard stability in the Middle East.
https://www.kurdistan24.net/en/story/37071-Iraqi-FM-urges-caution:-%E2%80%98Iraq-must-avoid-entanglement-in-the-conflicts%E2%80%99RV UPDATE BY MILITIAMAN, 1 OCT
Militia Man
In the last week or so...there's probably five or six articles specifically talking about removing zeros from the Iraqi dinar...
Quote: "...this is done by removing a specific number of zeros from the nominal value of the currency."
From the value of the currency not the currency notes but the value of the currency...
Militia Man
They will need to have an international IMF Article XIV and Article VIII compliant currency.
One that the Central Banks can defend and likely in a very fast and efficient manner with the most advance systems in the world.
The focus in the future is going to be instantaneous cross border payments 365/24/7 and no blackouts with little cost. It is now the time to be paying attention...
https://dinarevaluation.blogspot.com/2024/09/it-is-now-time-to-be-paying-attention.html
Iraqi dinar under pressure amid regional tensions, 1 OCT
ERBIL (Kurdistan24) – The Iraqi dinar has been steadily depreciating against the US dollar, driven by a confluence of factors related to regional tensions and domestic economic conditions.
Bilal Saeed, a trade and marketing consultant, has identified five key reasons for the dinar's decline.
The exchange rate of the US dollar against the Iraqi Dinar was between 151,700/151,800 IQD for 100 US Dollars in the Kurdistan Region today.
1- Regional Tensions: The ongoing conflict between Israel and Lebanon's Hezbollah has created a sense of uncertainty and fear in Iraq, leading to capital flight and increased demand for US dollars as a safe haven currency.
2- Domestic Protests: Anti-government demonstrations and protests sparked by Israeli attacks on Lebanon have further exacerbated the situation. Concerns over potential US retaliation against Iraqi Shiite groups, including Hashd al-Shaabi, have also contributed to market instability.
3- Government Spending: Increased government expenditures, financed primarily through the sale of US dollars, have put downward pressure on the dinar. As the government exchanges more dollars for dinars to fund its operations, the supply of dinars in the market increases, weakening its value.
4- Increased Demand for Dollars: Both Iraqi citizens and businesses have been seeking to acquire US dollars, either for investment purposes or to hedge against potential economic instability. This increased demand has driven up the price of the dollar relative to the dinar.
5- Remittances and Regulations: Restrictions on remittances and other regulatory measures have created excess demand for US dollars, as individuals and businesses attempt to transfer funds outside the country.
Saeed predicts that the Iraqi dinar will continue to depreciate against the US dollar as long as regional tensions, particularly the war between Israel and Hezbollah, persist.
The ongoing uncertainty and economic challenges facing Iraq are likely to further exacerbate the downward pressure on the dinar.
https://www.kurdistan24.net/en/story/37084-Iraqi-dinar-under-pressure-amid-regional-tensions
RV UPDATE BY FRANK26, 1 OCT
Frank26
They tell you [Iraqi citizens] there is an imminent change coming to your currency almost every day now. That is very exciting. These are the words we've only dreamed about in the last 5 years.
To see them almost every day is rather shocking but very exciting right now...This is getting crazier and crazier every day with so much excitement and so much information about the monetary reform being sent directly pinpointed to you Iraqi citizens from Sudani.
They're giving them a date of when they're going to stop the auctions, the window. Now they tell them we're lifting three zeros, you're getting purchasing power.
They tell them you're getting the HCL. Then they go a step further and they said our currency is going to be stronger than the Jordanian dinar...It's going to be more than Jordan's currency...I believe they're going to reach the REER through the float at around $4.25...
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Frank26
Article: "The government forms a higher committee to adapt Iraq banks to International financial requirements" What does that mean? It means the Iraq dinar is going to float internationally in international markets.
But it's at a program rate?
No it's not.
But it has sanctions on the country?
No it doesn't. Wells Fargo says it's on the OFAC list,
that it's on the 'bad currency' list?
UN votes to end Iraq political mission, 25 NOV
UN votes to end Iraq political mission UNITED NATIONS — The U.N. Security Council voted unanimously Friday to end the U.N. political miss...
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Frank26 [Bank story] This time we didn't go down, we just called [the bank]... We said we want to see if we can exchange some cu...
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Bank appointment for Currency EXCHANGE Instructions/Checklist Bank Name_________________________________________ Bank 800#____________...
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Walkingstick All these meetings that the CBI had with all these agencies that were helping them with their monetary reform are done. Al...