TIDBIT FROM PIMPY, 28 OCT

 Pimpy  

 [Lifting restrictions on currency exchange in Iraq] 

  You understand if they lift these restriction they're talking about the amount of liquidity that's going to come into Iraq?

  Liquidity has always been an issue for them but now this would be a big deal for them. This would be huge. 

 A lot of liquidity would come into Iraq.  It'll really strengthen the Iraqi dinar.  I mean hardcore.

DINARLAND UPDATE: " THEY ARE PREPARING FOR BEGIN THE PROCESS OF DELETE Z...

"HYBRID MONETARY POLICY PART 1", 28 OCT

 KTFA

FRANK26: "HYBRID MONETARY POLICY PART 1"....F26

 

The Central Bank of Iraq decides to reduce interest to 5.5% in order to support economic growth

 

10/25/2024

The Central Bank of Iraq decided to reduce the interest rate from 7.5% to 5.5%, after the inflation rate decreased in Iraq.

According to the Ministry of Planning, the inflation rate has fallen from 8% to less than 3%.

Deputy Governor of the Central Bank, Ammar Hamad, said, "Based on the monetary policy orientations to enhance access to targeted inflation rates in a manner that does not conflict with the expected economic growth rates, and is consistent with the policy of developing deposits and increasing credit rates aimed at targeting projects, the Board of Directors of the Central Bank decided to reduce the monetary policy rate to 5.5% instead of 7.5%."

He added that the securities, namely Islamic deposit certificates and traditional transfers, were reactivated according to an annual plan with two terms, 14 days with a return of 4% and 182 days with a return of 5.5%.

He stressed that the maximum investment limit does not exceed 50% of the total private sector deposits at the bank.

The Central Bank stressed that the bank's investment ceiling in a single auction does not exceed 500 billion dinars.

LINK

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"PART 2 OF THE HYBRID MONETARY POLICY".........F26 (A 2ND SET OF BOOKS)

"Hybrid Monetary Policy".. Al-Sudani's Advisor Reveals the Central Bank's New Step

 

10/26/2024

The economic advisor to the Prime Minister, Mazhar Muhammad Salih, explained today, Saturday, precise details about the importance and reasons for the Central Bank of Iraq’s decision to reduce interest.

 

 
Saleh told {Euphrates News} that: "It is clear that the monetary policy of the Central Bank of Iraq has become a policy that meets the requirements of growth in real economic activity, through activating its operational objectives aimed at reducing the cost of credit and financing within the joints of the economic system in general and the banking system in particular.

" He explained, "The Central Bank began, through its decision issued in accordance with its circular on October 24, to reduce the monetary policy interest rate (which is the rate at which the Central Bank of Iraq deals with the banking system) by about 200 percentage points, by lowering the interest at which the Central Bank deals with banks from 7.5% to 5.5%, which means that the Central Bank of Iraq has become following an expansionary policy in targeting the money supply in a manner that is consistent with activating the real sector in the national economy and confronting unemployment indicators in the overall economy."

According to the statement of the Prime Minister's economic advisor, "Despite the above, the bank in its new policy did not neglect the importance of continuing to control local liquidity levels and carrying out high sterilization operations, by offering debt instruments called Islamic certificates of deposit with a return that increases with the length of the amortization period of those securities purchased by the banking system, which are considered sovereign debts that can be mortgaged or discounted in the secondary market and are excellent debts."

He continued, "The monetary policy of the Central Bank has given a signal to the financial and banking system that its easy or flexible policy adopted by the bank in moving the liquidity of the economy is under continuous control in order to play the role of the monetary authority in combating inflationary activities and imposing economic stability as its first central goal." 
Saleh concluded by saying, "Between expanding the movement of economic liquidity as an expansionary policy and imposing control over liquidity levels by offering debt instruments in return at the same time in parallel, we can call the current monetary policy of the Central Bank of Iraq a {hybrid flexible monetary policy}." (A 2ND SET OF BOOKS -F26)

The bank decided to reduce the interest rate from 7.5% to 5.5%, in addition to reactivating the securities (Islamic certificate of deposit and money transfers) according to an annual plan and with two terms: with a return of 4% for a period of 14 days and a return of 5.5% for a period of 182 days. 

Raghad

 

LINK

TIDBITS FROM MNT GOAT, 28 OCT

 Mnt Goat  

 We have been...told by my CBI contact on the committee that we should expect to see the ramped-up Project to Delete the Zeros sometime soon after the U.S. election period is over sometime in November. 

This period of time through December will begin the process for the swap out with the newer lower denominations.

 To me this also means about a 1:1 at par rate of the IQD with the US dollar. But remember this is IN-COUNTRY only. Also remember these actions ALWAYS have dependencies. Nothing is a guarantee! I want to make this VERY CLEAR to you today.  

.the media is constantly broadcasting commercials about how the swap out will work.  Then the news media from Iraq tells us about the “cash center” that recently opened in Karkh. 

It is used solely for the intake of the three zero dinar notes or dollars. Folks they are already sucking in the three zero notes...So in reality, unofficially, the process of deleting the zeros has already begun. Yes, it is underway according to my CBI contact. 

EXCERPTS FROM MARKZ : " Read between the lines" @DINARREVALUATION

 

"WOW !!!" BY FRANK26, 28 OCT

 KTFA

FRANK26: "WOW !!!"..........F26 

Waiting to be sent.. Oil and Gas Law on the Government Discussion Table

10/24/2024

 

 Baghdad..

Member of the Parliamentary Oil, Gas and Resources Committee, Kazem Al-Tawki, confirmed today, Thursday, that the draft oil and gas law is awaiting approval within the Council of Ministers, indicating that the joint committees between the federal government and the regional government are  continuing their work to decide on the law.

Al-Tawki told Al-Maalouma Agency, “There are controversial articles that hinder sending the draft oil and gas law to the House of Representatives,” noting that “the draft is still in the government’s possession.”

He added that “the oil and gas law is still on the government’s discussion table,” noting that “the relevant committees are continuing their meetings in the hope of reaching an agreement on the controversial articles.”

He stressed that “there is a common vision between the governments of Baghdad and the region to complete the oil and gas law file and send it to the House of Representatives.”

.
almaalomah.me

TIDBIT FROM MARKZ, 28 OCT

  MarkZ   

[via PDK] 

 I want to highlight this one. “Why fluctuate in the exchange rate of the US dollar” 

 It occurred to me that these type of articles started appearing before the Kuwaiti Revaluation.

 Of course back then I had friends serving in the military that were stationed there at that time. So I was getting regular updates from Kuwait. 

I...followed it to see if they were right. 

One day they post articles that everything is stable…the next day they publish articles saying things are unsettled and fluctuating…They keep publishing conflicting articles to keep us off-balance. This is important and exactly what we saw before Kuwait revalued