FIREFLY: CHECKMATE!! : IRAQ MUST ADD VALUE TO THE DINAR ONCE STOPS THE CURRENCY AUCTION #iqd

 

Dagher: I don't understand why we borrow when oil exceeds $70 , 28 DEC

Dagher: I don't understand why we borrow when oil exceeds $70 

Today, economic expert Dr. Mahmoud Dagher criticized the economic policies that push Iraq to borrow despite oil prices exceeding $70 per barrel.

Dagher explained that the external debt exceeded the figures announced according to the World Debt Report, while the internal debt amounted to more than 81 trillion Iraqi dinars, which constitutes an additional burden on the general budget that bears the debt installments and interest, as these costs reach 9 trillion dinars.

He pointed out that the government's continued borrowing lacks any economic justification, especially with the fluctuation of Iraq's GDP as a country dependent on oil revenues, which makes the debt-to-GDP ratio unrealistic or economically feasible.

Dagher concluded his statement by stressing the need to reconsider these financial policies, warning of the repercussions of borrowing on the Iraqi economy if oil prices decline in the future  link

TIDBIT FROM PIMPY, 28 DEC

 Pimpy  

Article: "What are Iraqis waiting for after the news of the 'sudden suspension' of the dollar  sale platform by the Central Bank?" 

 That is a big deal by the way.  They've been talking about stopping the auctions for quite  some time...

This is their way of getting away from the dollar altogether and by doing so allow them to win the international  community...This is going to eliminate a lot of the criminality.

MAJEED : ONCE THE IQD GO ON FOREX , IT WILL BE LIKE THE SHOTGUN TO LET THE OTHER CURRENCIES REVALUE

 

FRANK26: "EDDIE KNOWS MORE THAN YOU KNOW MR IRAQI BUSINESSMAN???!!!", 28 DEC

 KTFA

FRANK26:  "EDDIE KNOWS MORE THAN YOU KNOW MR IRAQI BUSINESSMAN???!!!"....F26

Within days"... Businesses are "confused" with expectations of a rise in the dollar exchange rate in the parallel market

 

12/27/2024

 

 Baghdad

Economic expert Ahmed Al-Tamimi expected, today, Friday (December 27, 2024), that the dollar exchange rate will continue to rise in the parallel market in the coming days.

Al-Tamimi told Baghdad Today, "The dollar exchange rate in the parallel market has been rising continuously for days," expecting "it to continue rising during the next stage, and  this matter is directly linked to the imminent announcement of the platform's suspension by the Central Bank of Iraq."

 He added, "This matter has caused clear confusion in business," noting that "there is an increasing demand for the dollar in the parallel market, after this announcement due to fears and traders' lack of knowledge of how to deal with banks regarding foreign transfers."

He stressed that "this increase has increased the exchange rate and we expect the exchange rate to increase, and for this reason the Central Bank of Iraq must clarify the new mechanisms for foreign transfers and how they will be through banks, in order to reassure the street."

Earlier today, Thursday, economic expert Nasser Al-Tamimi revealed the reason for the continued rise in the dollar exchange rate in local markets for days.

Al-Tamimi told Baghdad Today, "There are two main reasons behind the continued rise in the dollar exchange rate in local markets for days," indicating that "the first reason is the imminent suspension of the platform's work at the Central Bank, as this matter has caused confusion in the market, especially among small traders, who have increased their demand for dollars from the parallel market. "

He added, "The other reason is the proximity of the New Year's celebrations, as there is a demand for the dollar in the parallel market for the purpose of travel as well as buying some goods," expecting "the rise to continue until the beginning of the new year, after which it may return to a gradual and slow decline."

LINK

TIDBIT FROM MARKZ, 28 DEC

  MarkZ 

  [via PDK]  

I am hearing rumors from groups attached to Indian Nations that they are being told to prep for imminent release.

 It could be within days…. Similar mechanism are being re-enacted to when Kuwait RV’d. Some Indian Nations did very well when Kuwait revalued. This has me really excited. 

FRANK26: " They're telling the citizens they're going to add value to their currency" #iqd