EXCERPTS FROM MARKZ: " REDEMPTION CENTERS ARE WORKING THIS WEEKEND" @DI...

CONFIRMATIONS FROM CBI CONTACT BY MNT GOAT

 EXCERPTS FROM MNT GOAT

I have also had confirmation from my CBI contact that I am seeing these reforms within the correct light and should continue. I was also told that these reforms in the ISX are not going to drag out and the plan is to accomplish them in the next few months, prior to the end of the year. Opps… there is another end of year benchmark.

CBI INTEL CONTACT 

Now we hear first hand what my CBI contact told us was taking place to clean up and enforce the banking laws.

THE CENTRAL BANK OF IRAQ DECIDES TO CLOSE THE BABYLON BANK 

The Central Bank of Iraq decided to close the Babylon Bank.

According to a document issued by the Central Bank of Iraq, addressed to the Babylon Bank, and received by “Al-Eqtisad News”, it decided to “refer the bank to forced liquidation based on the provisions of Article No. 69 of Banking Law No. 94 of 2004.

He added: “Appointing Ahmed Abdul Mahdi Nehme as liquidator of your bank.”

(This is the US Treasury inside Iraq as the strong arm to enforce Iraqi banking laws, something that was difficult for the CBI to do without repercussions from political members who used the banks to steal. So, now we hear first hand what my CBI contact told us was taking place to clean up and enforce the banking laws.)

https://dinarevaluation.blogspot.com/2024/09/cbi-intel-contact-by-mnt-goat-27-sept.html

Iraq Increases Reserves at IMF by 50%, 15 OCT

 A meeting of the Iraqi Cabinet this evening approved an increase in Iraq's quota at the International Monetary Fund (IMF) by 831.9 million Special Drawing Rights (SDR), equivalent to 1.45 trillion Iraqi dinars [$1.1 billion] based on the exchange rate as of October 8, 2024.

This 50-percet increase in Iraq's previous quota will enhance the country's voting power within the IMF.

The additional allocation will be included in the 2025 budget.

The IMF created SDRs as an international reserve asset to supplement member countries' official reserves; they are not a currency, but rather a claim on freely usable currencies of IMF member countries. They serve as a potential source of liquidity for IMF member nations.

SDRs represent a weighted basket of major international currencies, and can he held as part of a country's foreign exchange reserves. Adding SDRs to a country's international reserves makes it more resilient financially.

FRANK26: " THE NEXT STEP IS TO INTRODUCE THE LOWER NOTES AND THE NEW EXC...

Taif Sami: The Regional Government Has Not Handed Over Its Oil Revenues To The State Treasury, 15 OCT

 Taif Sami: The Regional Government Has Not Handed Over Its Oil Revenues To The State Treasury

Local | 10/13/2024  Mawazine News - Baghdad  The Ministry of Finance announced on Sunday that it will release 400 billion dinars from the governorates’ allocations, while indicating that the fluctuations in oil prices caused a problem in achieving revenues.

The ministry said in a statement received by Mawazine News, that “Minister of Finance Taif Sami appreciated the support of the parliamentary finance committee, its chairman and members, for the ministry’s work, while she presented a detailed presentation on the ministry’s steps to address the budget deficit and the problem of lack of funding.”

Minister Sami said, according to the statements, that “the fluctuations in oil prices caused us a problem in achieving revenues,” calling on “the finance committee to help the ministry with regard to the problem of non-oil revenues with the regional government, as it has not handed over its oil revenues to the state treasury since the Federal Court’s decision to pay the salaries of Kurdistan employees.”

She added, “The salaries of the region’s employees are estimated at 13 trillion dinars, as all that the Kurdistan Regional Government has paid is 320 billion dinars from its non-oil revenues.”

She pointed out that "financial allocations for the ration card and the food basket were secured, sufficient for the next six months, and that the improvement in oil prices was naturally reflected in the financing, as we will release today more than 400 billion dinars from the governorates' allocations." https://www.mawazin.net/Details.aspx?jimare=255947

Q & A WITH MARKZ, 15 OCT

 Q & A WITH MARKZ

Member: Question about rates: is the rate at the redemption centers THE rate? Or could it float up if we wait? Or down if we don’t get in on time?

Member: RC rate is better than Forex rate. Remember, 'A bird in the hand is worth 2 in the bush'. imo.

Member: RV Intel? Bond holders?

MZ: I am still not seeing any activity on Asian bonds. Everything that I am hearing and seeing this week and last week has been on the German bonds. There were a couple meetings last night and there are bond holders who keep saying that absolutely this is our week. 

MZ: I have facilitators saying “They are telling us this is our week…..that everything is complete…but have not seen much yet. They are waiting on the final “GO” to distribute the funds to the holders. 

MZ: The bond holders seem more hopeful than the facilitators that this is our week. I was hoping to have more news than that this week. 

TIDBITS FROM MARKZ: "IRAQ IS PREPARING FOR THE ASCENSION TO THE WTO" @DI...