KTFA
FRANK26: "THEY PREPARE THE NEW EXCHANGE RATE TO FLOAT.".........F26
October 01, 2024
Frank26
They say that they wanted this monetary reform to be done at the beginning of the year, remember?
Unfortunately no, they weren't ready. But they sure are ready now.
[Response to Guru Clare's Article post below]
IT REALLY DOESN'T MATTER WHAT THE ARTICLES SAY CONCERNING POSITIVE VERSUS NEGATIVE.
WHAT IS EXTREMELY IMPORTANT IS THAT THEY ARE TALKING ABOUT THE LIFTING OF THE EXCHANGE RATE THAT IS THE POINT THAT IS THE KEY WHETHER IT BE FOR OR AGAINST IT THEY ARE TALKING ABOUT IT BECAUSE IT IS REAL!
https://dinarevaluation.blogspot.com/2024/10/they-sure-are-ready-now-by-frank26-2-oct.html
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?
Today, Thursday, the Iraqi Central Bank offered its thoughts regarding the preparation of the upcoming budget.
“The government must prepare the budget for years based on the average price of a barrel of oil, not for each year,” Central Bank Board Member Ahmed Brihi stated.
“Even if the price of oil reaches $50, this measure prevents the Iraqi economy from being affected,” he explained.
“Countries whose economies depend on these commodities, including Iraq, must adapt their financial base according to these changes,” he continued. “It is well known that the prices of oil, minerals, and strategic agricultural materials are always changing.”
“Since Iraq’s economy still depends on oil by more than 90%,” he continued, “it must prepare its budgets based on the average price of a barrel of oil for a long period of time rather than for each year.”
Kaperoni
Article: "Developing the banking sector according to international standards... The Central Bank signs an agreement with the International Finance Corporation"
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."
https://dinarevaluation.blogspot.com/2024/09/rv-update-by-kaperoni-30-sept.html
Youssef Al-Kalabi, a member of the Iraqi Integrity Committee, made the announcement on Thursday that the second workshop aimed at improving the Law on Recovery of State Funds from Corrupt Individuals had come to an end.
“The law is considered one of the most important laws in the House of Representatives,” Al-Kalabi explained.
“The process of recovering, seizing, and accessing funds is addressed by this law,” he added. The Federal Board of Supreme Audit, the Supreme Judicial Council, the Integrity Commission, and the Bar Association are just a few of the numerous state institutions and departments that have sent representatives to the committee.
Al-Kalabi also said that the committee is working hard to pass the Law on the Recovery of Smuggled Funds, especially since some of the funds have been used to buy real estate, trade, and assets. It becomes clear that the corrupt individual’s funds have significantly increased when a recovery order is issued.”
“The House of Representatives has completed the first reading of the law and will submit a report to complete its second reading, with plans to vote on it before the end of the current legislative session,” the committee member confirmed.
