WALKINGSTICK: IRAQI BANK FRIEND AKI UPDATE: " Iraq moving toward a basket" @DINARREVALUATION

 

FRANK26: "ASK FRANK26... LOL.", 21 DEC

 KTFA

FRANK26: "ASK FRANK26... LOL."............F26

What are the objectives of expanding foreign transfer channels by the Central Bank of Iraq?

 

12/19/2024

 
Baghdad

 

Economic expert Alaa Al-Fahd revealed today, Thursday (December 19, 2024), the Central Bank of Iraq’s goal of expanding external transfer channels for local banks.

Al-Fahd said in an interview with Baghdad Today, "Within the Central Bank's policy and its continuous attempts to control foreign transfers to finance trade, especially in dollars, there is a continuous effort to expand the basket of foreign currencies used in imports, especially with countries with which we have import dealings, the transfer is in the currencies of the countries, and there was an agreement on this with the Turkish side, as well as the Emirates, China, and today with Jordan and Saudi Arabia."

He explained that "this step reduces the demand for the dollar to finance foreign trade, as most of the demand for the dollar is to finance foreign trade, and with the expansion of the currency basket, the pressure in the parallel (black) market on the dollar decreases, and this reduces the exchange rate in the local market."

He added, "This step will also allow many banks to deal with many countries according to the currencies of those countries, and this will enhance a major role in developing the work of banks in terms of experience, and its main goal is to control the dollar exchange rate and work to reduce it."

LINK

TIDBITS FROM JON DOWLING, 21 DEC

 JON DOWLING

Yes an opportunity to shut it down and clean it out! Some much needed house cleaning! Smells like Nesara and DOGE to me!

Meanwhile Iraq keeps trucking along with finishing their details by early next week. The cryptos will be set free next week as well. This will indeed be a Christmas for us to remember. 

The key is humility and service while our families are mostly clueless about what’s taking place in our lives. One victory after another coming directly at us. Let’s remain the light in the proverbial darkness, in order to light their path towards Jesus, as we were once in the darkness.🙏

JON DOWLING: We are 3-7 days away from glory! @DINARREVALUATION #iraqidinar #iraqidinarinvestor

 

Minister Of Transport: Nasiriyah International Airport To Open In Mid-2025, 21 DEC

 Minister Of Transport: Nasiriyah International Airport To Open In Mid-2025

Minister of Transport, Razzaq Muhaibis Al-Saadawi, announced today, Thursday, the opening of Mosul, Karbala and Nasiriyah airports next year, while stressing the endeavor to resume work on the mass transportation project in Dhi Qar.

Al-Saadawi said, in a special statement to the Iraqi News Agency (INA): "This visit comes within the periodic visits he makes to see in the field the rates of completion of the ministry's projects, especially the Nasiriyah International Airport project."

He explained that "this strategic project will have positive repercussions on the governorate's economy and its openness to the world, as it is the only border outlet for this governorate."

He pointed out the "great progress in the rates of completion compared to the past months," stressing that "the project will be opened in mid-2025."

He added, "The ministry will witness the opening of other strategic projects next year, including Mosul International Airport, Karbala International Airport, and the Grand Faw Port."

He added, "The ministry, in cooperation with the local authority in Dhi Qar Governorate, has completed all the necessary preparations to resume work on the mass transportation project in the governorate," noting that "the project will start from the governorate center and then extend to the districts and sub-districts, especially since the red bus enjoys wide acceptance among citizens, especially those with limited income, workers and students."

TIDBITS FROM MNT GOAT, 21 DEC

 Mnt Goat  

 Article:  “CENTRAL BANK GOVERNOR: OPENING EXTERNAL CHANNELS WITH FOREIGN CURRENCIES ELIMINATES THE BLACK MARKET” 

  Central Bank Governor Ali Al-Alaq confirmed on Thursday that opening channels in foreign and Arab currencies achieves stability in the exchange rate and gradually eliminates the black market. 

We were told of the issue of the parallel market and my CBI contact told me that this had to come in par with the “official” CBI rate in order to make the in-country revaluation of the dinar possible, before the project to delete the zeros could occur.  

 They said that the new correspondent bank procedure should eliminate the parallel market...The RV is going to happen,  but first things first.

This recent move with the correspondent banks should knock out the parallel market altogether first and put the dollar in line with the CBI “official” rate. This was needed first. 

Then the CBI plans to push out the new in-country CBI official rate we have been waiting for along with the project to delete the zeros. 

I just talked to my CBI contact...Wednesday and this is what I am told. We just have to sit tight and see what happens next. I wish I could tell you more positive news. Right now, this is a very sensitive time, things will be moving fast soon. I can’t think of better news at this time. 

EXCERPTS FROM MARKZ: " I just want to inform everyone here that I have gotten paid. I am in Tier 3"