FIREFLY: " the dinar would return to the 'glory days' of the past." ‪@DINARREVALUATION‬

 

Economist: The Value Of The Dinar Will Decrease And The Financial Deficit Will Increase, 8 NOV

 Economist: The Value Of The Dinar Will Decrease And The Financial Deficit Will Increase

Information/Special..  Today, Wednesday, economic expert Sadiq Al-Rikabi expected that the Iraqi economy would be negatively affected during the coming period and the value of the dinar would decline as a result of the political and economic changes that the world is witnessing.

Al-Rikabi said in an interview with Al-Maalouma Agency, "Iraq is in an unenviable economic situation in light of the expected decline in oil prices. The United States will depend on its oil, and the industry in China has declined relatively and no longer depends primarily on oil. In addition, the expected improvement in relations between Washington and Moscow will allow Russian oil to return to global markets."

He added that "Iraq's failure to diversify its sources of income and its reliance on a rentier economy and fixing the price of a barrel of oil at $70 in the financial budget will lead to a larger deficit and will affect salaries as well as the value of the dinar."

Recently, Iraqi officials confirmed that the turbulent political and security situation in the region, as a result of the Zionist aggression on Gaza and Lebanon and its repercussions, directly affects the Iraqi economy. LINK

DINAR REVALUATION VIETNAM STATUS REPORT, 8 NOV

 DINAR REVALUATION VIETNAM STATUS REPORT

Summary

Vietnam’s monetary authority is intervening to stabilize the Vietnamese Dong, which recently hit a record low against the dollar, while the manufacturing sector shows strong growth.

Highlights

• 📉 Vietnamese Dong fell to $24,700 per dollar, marking a 5% drop in 2024.
• 💵 State Bank of Vietnam plans to sell dollars to banks to stabilize the currency.
• 📊 Central Bank raised the reverse repurchase rate to 4.5% to support the Dong.
• 📈 Manufacturing sector shows resilience with strong growth and a PMI of 54.7.
• 📦 New export orders are rising, but shipping costs are a concern for businesses.
• 📊 The Central Bank dismisses rumors of exchange rate policy changes.
• 🌍 Global fluctuations and domestic challenges are impacting the foreign exchange market.

Key Insights

• 📉 Currency Depreciation: The Dong’s drop to $24,700 highlights the ongoing struggle against global market fluctuations, urging the need for intervention strategies.
• 💵 Intervention Strategies: The State Bank’s commitment to selling dollars shows proactive measures to stabilize the currency and restore investor confidence.
• 📈 Interest Rate Adjustments: The increase in the reverse repurchase rate indicates a tightening monetary policy aimed at curbing depreciation pressures on the Dong.
• 🏭 Manufacturing Growth: A PMI above 50 signifies expansion, indicating Vietnam’s manufacturing sector is thriving despite external economic pressures.
• 📦 Export Challenges: While export orders are increasing, high shipping costs present significant hurdles that manufacturers must navigate.
• 🚫 Rumor Control: The Central Bank’s dismissal of exchange rate policy rumors emphasizes the importance of clear communication to prevent market panic.
• 🌍 Economic Resilience: Despite facing global challenges, Vietnam’s economic indicators suggest a strong recovery and resilience, particularly in manufacturing.

Bank VP Invests in Dinar & Dong! | MarkZ Chat Story ‪@DINARREVALUATION‬

 

Iraqi provincial council leaders call for adopting al-Sistani’s commandments as national roadmap, 8 NOV

Iraqi provincial council leaders call for adopting al-Sistani’s commandments as national roadmap

Shafaq News/ In their second conference on Wednesday, Iraq's provincial council leaders called for the adoption of recommendations recently issued by Grand Ayatollah Ali al-Sistani, the country’s leading Shia cleric, suggesting these be used as a strategic roadmap for Iraq’s governance.

Held in the holy city of Karbala, the conference gathered council heads from Iraq’s provinces that are not organized in a region, along with Ahmed al-Fatlawi, the General Coordinator for Provincial Affairs. Participants emphasized the importance of such conferences in "unifying approaches to collaboration with both Parliament and the federal government to develop comprehensive solutions that serve Iraq’s interests. "

The conference issued several key recommendations, notably considering Ayatollah's recommendations issued following his meeting with the UN Secretary-General's representative in Iraq, Mohammed al-Hassan as a roadmap.

Al-Sistani's recent guidance included seven stability factors for Iraq, stressing the importance of national unity, resistance to foreign interference, and restricting arms to state control as part of Iraq's path toward stability and prosperity. His influence as a spiritual leader has been a steadying force for Iraq, with his moral authority shaping the country's democratic principles since the U.S. invasion in 2003.

they also “stressed the urgency of passing or amending the current Provincial Law to expand administrative and financial powers in line with local governance principles.”

The statement concluded with a call for “increased provincial budget support to better meet citizens’ essential service needs.” Attendees underscored the importance of political stability at the local level as a prerequisite for effective governance, urging political blocs to prioritize this objective for the welfare of Iraq’s citizens.

DINAR REVALUATION IRAQ STATUS REPORT, 8 NOV

 DINAR REVALUATION IRAQ STATUS REPORT

Summary

Iraq shows promising economic recovery with foreign reserves, reduced inflation, and strategic investments as it prepares for a major census and international collaborations.

Highlights

• 🌍 French President Macron supports Iraq’s stability through the upcoming Baghdad conference.
• 🚢 Iraq receives new port infrastructure with Korean collaboration, boosting economic capabilities.
• 💰 Central Bank reports recovery indicators, aiming for economic growth and reduced inflation.
• 🔋 Major investments in renewable energy projects signal a shift towards sustainability in Iraq.
• 📊 The Iraqi stock market sees significant trading volume increase, indicating investor confidence.
• 🌞 Qatar’s Energy partners with Total Energy for a solar project, enhancing Iraq’s energy sector.
• 🗳️ Iraq plans its first census in 27 years, crucial for development planning and accurate data collection.

Key Insights

• 📈 Economic Recovery: The stabilization of Iraq’s economy is supported by increased foreign cash reserves and robust financial policies, critical for fostering growth and attracting investment.
• 🤝 International Collaboration: The involvement of foreign leaders and companies, such as the French government and Qatar’s Energy, highlights Iraq’s strategic positioning for international partnerships to bolster its infrastructure and energy sectors.
• 🔄 Inflation Management: The Central Bank’s focus on reducing inflation rates reflects a proactive approach to economic stability, aimed at creating a conducive environment for both local and foreign investments.
• ⚡ Renewable Energy Focus: Investments in renewable energy projects underscore Iraq’s commitment to sustainable development, which could significantly reduce reliance on oil in the future.
• 📊 Market Confidence: The increase in trading volumes on the Iraqi Stock Exchange demonstrates growing investor confidence and a positive outlook on the economic recovery trajectory.
• 🔍 Census Importance: The upcoming census is pivotal for effective governance and resource allocation, ensuring that future economic strategies are based on accurate demographic data.
• 🏦 Financial Sector Growth: The rise in remittance activities and banking services reflects a strengthening financial sector, crucial for economic resilience and growth in Iraq.

Iraq bank friend Aki :" Over 90 currency centers around Michigan" BY WALKINGSTICK ‪@DINARREVALUATION‬