DINAR REVALUATION IRAQ STATUS REPORT, 9 NOV

 DINAR REVALUATION IRAQ STATUS REPORT

Summary

Iraq is focusing on economic reforms, gold reserves, and a crucial census to promote stability and growth while collaborating internationally.

Highlights

• 🇫🇷 French President Macron aims to support Iraq’s stability through the upcoming Baghdad conference.
• 📈 Iraq’s Central Bank is working on economic stability by improving cash reserves and reducing inflation.
• 💰 Iraq ranks 3rd in the Arab world for gold reserves, increasing holdings to over 152.5 tons.
• 🏦 The Iraqi Stock Exchange shows a significant increase in trading volumes and company activities.
• ⚡ Qatar’s Energy partners with Total Energy for a large solar project in Iraq, aiming to enhance renewable energy.
• 👥 Iraq plans its first population census in 27 years, vital for its 5-year development strategy.
• 💵 International financing is expected to ease the financial burdens on Iraq’s ministries for development projects.

Key Insights

• 🌍 International Collaboration: The upcoming Baghdad conference highlights Iraq’s efforts to engage with global partners, enhancing its geopolitical standing. This collaboration can lead to improved security and economic support.
• 📊 Economic Recovery: The Central Bank’s focus on cash reserves and inflation reduction signifies a strategic move towards stabilizing the economy, essential for attracting foreign investments.
• 🏅 Gold Reserves Expansion: Iraq’s rise in gold reserves positions it favorably in the region, potentially increasing economic security and investor confidence amidst global uncertainties.
• 📈 Stock Exchange Growth: The boost in trading on the Iraqi Stock Exchange reflects growing investor interest, indicating optimism in the market’s future performance and economic recovery.
• ☀️ Renewable Energy Initiatives: The solar project with Qatar’s Energy shows Iraq’s commitment to diversifying its energy sources, which can lead to long-term sustainability and reduced dependence on oil.
• 📅 Census Importance: Conducting a population census is crucial for data-driven policy-making and effective resource allocation, laying the groundwork for sustainable development.
• 💳 International Financing: Engaging international financing is a significant step for Iraq to fund critical infrastructure projects, alleviating fiscal pressures and fostering economic growth.

DINARLAND UPDATE @DINARREVALUATION

"NO MORE LIES!!!" BY FRANK26, 9 NOV

 KTFA

FRANK26: "NO MORE LIES!!!"........F26

Sudan's top adviser refutes leaked 'billion-dollar bribe' allegations

 

11/8/2024

 

Abdul Karim Al-Faisal, Chairman of the Advisory Board in the Council of Ministers, denied on Friday what was circulated by some social media and "yellow pages" about a "fabricated" audio leak.

Al-Faisal explained, in a statement received by Shafaq News Agency, that "the audio clip that was published   was fabricated against me, and I deny the issuance of such content in its entirety and in detail, and it is pure slander," stressing that "there is no truth to his withdrawal from work."

He continued: "I place all my trust in the Iraqi judiciary, which, after God, will be the support and helper to bring me justice against those who wronged me," announcing that "this is targeting and warning to everyone who works and fights with honor and integrity the types of corruption that have ravaged Iraq's wealth."

Al-Faisal concluded by saying: “I know that this is a price paid by those who do not rely on the corrupt and their methods that lack chivalry and morals, and the rumour-mongers will not deter us from building the state and its institutions with this cheap targeting.”

LINK

MILITIAMAN CC HIGHLIGHTS, 9 NOV

 MILITIAMAN CC HIGHLIGHTS

Summary

Iraq’s Prime Minister Sudani is reforming the financial system, promoting digital banking, and addressing currency pricing to enhance economic stability.

Highlights

• 📈 Sudani’s directives aim to expand financial services and improve economic development.
• 💳 Digital transformation includes increased banking access and electronic payment systems.
• 🏦 The Central Bank focuses on stabilizing prices and reducing the parallel market’s influence.
• 🚢 Iraq’s Port Faw project is progressing, enhancing international trade capabilities.
• 🤝 The IMF’s support is crucial for modernizing Iraq’s banking sector.
• 👩‍🎓 Training and educating citizens on financial services are essential for inclusion.
• 📉 Inflation rates are declining, contributing to economic confidence.

Key Insights

• 🌍 Economic Reforms: Sudani’s initiatives reflect a commitment to reform Iraq’s financial system, transitioning from cash reliance to digital banking, critical for economic growth.
• 📊 Digital Banking: The push for modern technologies like mobile banking will increase financial inclusion, particularly benefiting rural areas and small businesses.
• 💰 Price Stabilization: The Central Bank’s efforts to eliminate the parallel market indicate a goal of achieving a single, stable exchange rate, aligning with IMF standards.
• 🚢 Infrastructure Development: The completion of the Port Faw project symbolizes Iraq’s readiness to engage in international trade and bolster its economy.
• 🤝 IMF Collaboration: The ongoing partnership with the IMF is essential for implementing comprehensive banking reforms and improving Iraq’s economic framework.
• 👩‍🎓 Financial Literacy: Educating citizens about banking and financial management is vital for fostering a more inclusive economy and ensuring participation in the digital transformation.
• 📉 Inflation Control: The significant decline in inflation signals positive economic trends, enhancing public confidence in government policies and the financial system.

MILITIAMAN: MM&C News Reporting-Sudani Art IV IMF-Port Faw Open-CBI Governor-No Room...

"A PROGRAM RATE IS ABNORMAL!!!". BY FRNAK26, 9 NOV

 KTFA

FRANK26: "A PROGRAM RATE IS ABNORMAL!!!"............F26

Al-Alaq describes the parallel dollar as “abnormal”: There is great stability in prices

 

11/7/2024

 

Baghdad/Iraq 

 

The Governor of the Central Bank of Iraq, Ali Al-Alaq, described the prices traded in a real parallel market as “abnormal,” while pointing out that there is great stability in prices and a decline in inflation rates.

Al-Alaq said in an interview with local media outlets, followed by “Iraq Observer”: “We understand the focus on the rise in exchange rates in local markets, but we believe that the focus should be on the ability of the Central Bank to implement full coverage of foreign transfers for commercial or other purposes, and this happens on a daily basis.”

He added, "The daily dollar selling rates are high and almost sufficient to cover the needs of traders, businessmen and even citizens, and therefore we look at the price through the amount of sales that the Central Bank undertakes daily at the official price."

He pointed out that “the Central Bank looks at another indicator, which is the inflation rate in the market, and we notice that there is great stability in prices and a decrease in the inflation rate, which indicates that foreign trade is covered by the official price, which is 132,000 dinars.”

The Central Bank Governor continued: “The price that is traded in the market is in fact an abnormal price that does not reflect the true price. Usually, this price is called a parallel price when there is a real parallel market with sources of dollars other than the Central Bank.”

Al-Alaq called on citizens to “pay attention to the fact that the price they are looking at is the price at which the Central Bank sells to traders,” noting that “more than 95% of the Central Bank’s daily sales are foreign transfers, and this foreign transfer is what represents the reality of commercial and other operations that it covers at the official price.”

LINK

"IRAQ IS OFFICIALLY OPENING FOR BUSINESS" FROM MAJEED, 9 NOV