DINARLAND UPDATE : IRAQ BOOTS ON THE GROUND REPORT BY FIREFLY @DINARREVA...

Parliamentary Oil: Basra exports will be harmed by continued smuggling in the region, 2 OCT

 Noting that OPEC will reduce oil exports from Basra because the region sells and exports oil unofficially, the Parliamentary Oil and Natural Resources Committee urged the federal government to intervene to stop oil smuggling by Kurdistan on Tuesday.

“The oil smuggling operations taking place by the Kurdistan Region require the federal government to intervene in this file, as it is an internal matter, especially since the government has great support from the political blocs that run the country,” committee member Bassem Al-Gharibawi stated.

He went on to say, “At a time when the government has worked to arm Kurdistan and provide it with advanced artillery that may be used at another time against the security forces, the regional government does not recognize the Iraqi state.”

He elaborated, “Iraq is still committed to OPEC, as it has become clear to the organization that Iraq produces and sells oil through the region at a rate of 300,000 barrels, and therefore the organization is cutting this amount from the share that is scheduled to be exported by Iraq, and this matter harms Basra’s exports without affecting the region, as it does not have official dealings to sell oil.” He stated that “Iraq is still committed to OPEC.”

RV UPDATE BY CLARE, 2 OCT

  Clare  

Article: "Al-Sudani postpones his visit to the United Kingdom due to regional and international developments"  

 Article:  "What would happen to the Iraqi dinar if the zeros were removed? Comment by Dr. Mahmoud Dagher" 

 Quote: "Economist Mahmoud Dagher pointed out that deleting zeros will not change...the purchasing power of the dinar...Instead of carrying a bundle of 50,000 dinar notes, it will be possible to compress them into a smaller number of notes after removing the zeros, and this will not change their purchasing power.

 The amount of money on offer...is equal to 105 trillion dinars, and after removing the zeros, the amount will be 105 billion dinars, which is exactly the same amount, and the exchange rate will change from 1320 dinars per dollar to 132 dinars per dollar."

DINARLAND UPDATE: RECENT UPDATES FROM BRUCE @DINARREVALUATION

Minister of Planning: The upcoming population census will draw a new map for development in Iraq, 2 OCT

 Mohammed Ali Tamim, the country’s planning minister, emphasized the significance of developing human resources as a fundamental pillar for achieving sustainable development.

Tamim noted that the government is working to implement a comprehensive reform program aimed at addressing unemployment, supporting vulnerable groups, and combating corruption during the first national conference to improve Iraq’s human capital. He emphasized the need to redirect investments towards the health, education, and social protection sectors.

He explained that human capital enhancement policies and programs are included in the National Development Plan 2024-2028. He also emphasized the significance of the population census, which will be conducted in November to provide a comprehensive database that supports development efforts.

In order to meet the challenges posed by limited resources, Tamim emphasized the need to prioritize funding for human capital investment projects and diversify funding sources.

RV UPDATE BY MILITIAMAN, 2 OCT

 Militia Man 

Article quote "Central Bank seeks to withdraw excess liquidity"  

When the central bank of  Iraq is removing excess liquidity, that's taking in dinar, what does that do?  

Enhances the value of the currency - Supply and  Demand.  Reduce the note count, the value goes up...That's the way it's always worked and it always will IMO.

 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...

DINARLAND UPDATES @DINARREVALUATION