"IRAQ IS ON A TIMETABLE" BY MNT GOAT, 21 OCT

  Mnt Goat   

Finance Minister Taif Sami Mohammed stressed the need “to adhere to timetables to achieve economic reforms”. 

  Yes, Iraq is on a timetable, and I don’t think they are going to mess this one up under Al-Sudani as they have in the past.

FRANK26…..10-20-24……BACK ON SCHEDULE …..& NEW PRODUCT FROM LIFEVANTAGE

"EXTRA EXTRA, READ ALL ABOUT IT THE CONSTANT EXCHANGE RATE EDUCATION DAILY." BY FRANK26, 21 OCT

 KTFA

FRANK26:  "EXTRA EXTRA, READ ALL ABOUT IT THE CONSTANT EXCHANGE RATE EDUCATION DAILY.".....F26

 

Among them are exchange rates.. the most prominent advantages of increasing Iraq’s share in the International Monetary Fund

10/19/2024

 Baghdad

 

The Prime Minister's Advisor for Financial Affairs, Mazhar Mohammed Salih, confirmed today, Saturday, that increasing Iraq's share of the international monetary fund is a step to confront economic challenges and stabilize the dinar, while he pointed out that it is a tool against exchange rate fluctuations and inflation problems and to enhance investors' confidence in the Iraqi economy.

Saleh told the official agency, which was followed by "Al-Eqtisad News", that "Iraq maintains a reserve of gold within its foreign reserves, and it is part of the official reserves of the Central Bank of Iraq, as monetary gold is a means of supporting the value of the Iraqi dinar and achieving the desired economic stability."

“When inflation rises and the value of foreign currencies falls, the price of gold usually rises, so gold is a hedge against inflation or currency devaluation. It is also a type of long-term investment and contributes to diversifying the country’s sovereign investment portfolio, because it is originally stable compared to currency volatility,” he added.

 

He continued: "Our country holds about 150 tons of gold, which constitutes a percentage of the country's foreign currency reserves. This reserve is managed in accordance with the guidelines issued by multilateral international financial organizations. It represents a hedging tool and a safe and appropriate haven, as it is an important part of the national currency cover."

 

He pointed out that "the monetary authority in our country has sought in recent years to increase its gold reserves, in order to confront economic challenges and ensure the stability of the Iraqi dinar."

 

He explained that "gold remains a protection tool against fluctuations in exchange rates and inflation problems, and it also contributes to enhancing investor confidence in the Iraqi economy." 

 

Earlier, the Council of Ministers approved increasing Iraq's share in the International Monetary Fund by the equivalent of (831,900,000) SDR, or the equivalent of (1.45025127) trillion dinars, according to the exchange rate on October 8, 2024, provided that the amount of the increase is included in the allocations for the year 2025, and that the proposed increase will lead to an increase in Iraq's share in the International Monetary Fund by 50% of the previous share, and to an increase in Iraq's voting power.

LINK

RV UPDATE BY CLARE, 21 OCT

  Clare  

Article: "Counterfeiting currency in Iraq.. Is the responsibility of the Central Bank or the government?"  

Quote: "Two printers used in counterfeiting operations were also seized, as well as a yellow Renault wheel used in distributing counterfeit currency,”

 she continued, stressing that

 “legal measures were taken against the accused, and it was proven through the investigation that there is a person residing outside the country who visits the home of one of the accused from time to time and brings new and modern editions of counterfeit currency, 

which are distributed in Baghdad and Basra through one of the accused who has a relationship with one of the arrested accused"

IRAQI DINAR SUMMARY RATES & EXPLANATION LIFT ZEROES #iraqidinar #dinar #...

"REMEMBER SECURITY & STABILITY!!!" BY FRANK26, 21 OCT

 KTFA

FRANK26: "REMEMBER SECURITY & STABILITY!!!".....F26

Financial Advisor: Increasing Iraq’s IMF Share Is a Step to Strengthen Dinar Stability

 

10/19/2024

 

The Prime Minister's Advisor for Financial Affairs, Mazhar Mohammed Salih, confirmed today, Saturday, that increasing Iraq's share in the International Monetary Fund represents an important step in confronting the economic challenges facing the country and stabilizing the value of the Iraqi dinar.

He explained that this increase constitutes an effective tool against exchange rate fluctuations and inflation problems, and contributes to enhancing investor confidence in the Iraqi economy.

Saleh pointed out that "Iraq maintains a reserve of gold within its foreign reserves, which is an important part of the official reserves of the Central Bank of Iraq."

He added: "Monetary gold is an essential means of supporting the value of the Iraqi dinar and achieving economic stability, especially in light of the economic turmoil that may affect foreign currencies."

 

He explained that rising inflation or depreciation of foreign currencies usually increases the price of gold, making gold an effective hedge against inflation and currency depreciation, adding that gold represents a long-term and stable investment compared to currency fluctuations, which enhances the diversification of the country's sovereign investment portfolio.

 

Saleh stressed that Iraq holds about 150 tons of gold, which constitutes a significant percentage of the country's foreign exchange reserves. He explained that these reserves are managed according to the standards of multilateral international financial organizations, which makes gold a suitable hedging tool and a safe haven for national currency reserves.

 

He also explained that the monetary authority in Iraq has worked in recent years to increase its gold reserves to ensure the stability of the Iraqi dinar and provide protection from economic fluctuations, noting that these economic policies have contributed to strengthening investors' confidence in the national economy.

 

The Iraqi Council of Ministers had previously approved increasing Iraq's share in the International Monetary Fund by the equivalent of 831.9 million Special Drawing Rights (SDR), or the equivalent of 1.45 trillion Iraqi dinars according to the exchange rate on October 8, 2024.

LINK

RV UPDATE BY SANDY INGRAM, 21 OCT

 Sandy Ingram

   The average cost of living for one person in Iraq is $754/month. 

 This amount includes rent therefore when Iraq creates a safe environment hundreds of thousands of travelers could easily spend $2,000 a month on average in Iraq.

  To understand how tourism can help change a country's GDP you only have to look at Mexico.