Saturday, January 4, 2025

JEFF: Today's news suggests the currency auctions have officially ended!! @DINARREVALUATION

 


Abu Saeeda: America seeks to establish its bases inside Iraq through agreements with Baghdad, 4 JAN

 Abu Saeeda: America seeks to establish its bases inside Iraq through agreements with Baghdad

The head of the Wujoud Movement, Muhammad Abu Sa’ida, confirmed on Friday that America seeks to establish its bases inside Iraq through agreements that Washington concludes with Baghdad in order to guarantee the free movement of its forces without any accountability and the stability of its forces inside the bases and establish them as American territory similar to embassies.

Abu Saeeda told Al-Maalouma, “America wants to leave Iraq while maintaining its military bases on Iraqi soil, provided that there is a security division and an agreement that allows American forces to carry out their work without accountability or punishment, with the Iraqi side not entering those bases, i.e. making them American territory according to diplomatic agreements and dealing with them in a manner similar to embassies.”

He added, “America seeks to establish its bases inside Iraq and obtain guarantees that its military presence inside those bases will not be affected, according to agreements concluded between Baghdad and Washington.”

He said, “If America does not achieve its goal of establishing fixed bases for itself in Iraq, it will consider the federal government responsible for the country and impose its guardianship over it and consider Iraq the 51st state.”

almaalomah.me

MAJEED: THEY HAVE ALREADY ADJUSTED THE PAYROLL ON THE NEW RATE!!, 4 JAN

 MAJEED

๐Ÿš€This guy is from Baghdad and they told him the salary on January 5 


Kurdistan was told that they will be paid on January 5 


They have already adjusted the payroll on the new rate 

Because yesterday they said we have to pay from 2025 budget 

And 2025 budget doesn’t have a lot of money so they have to re-value to make every dinar  valuable.

MAJEED: THEY HAVE ALREADY ADJUSTED THE PAYROLL ON THE NEW RATE!!, 4 JAN

 MAJEED

๐Ÿš€This guy is from Baghdad and they told him the salary on January 5 Kurdistan was told that they will be paid on January 5 They have already adjusted the payroll on the new rate Because yesterday they said we have to pay from 2025 budget And 2025 budget doesn’t have a lot of money so they have to re-value to make every dinar valuable. 

FIREFLY: New Money Exchange Centers! WE WILL MUST RETURN THE 3 ZEROS NOTES! #iqd #iraqidinar

 


2024 ended without what was planned.. Will Iraq succeed in escaping the “oil curse”?, 4 JAN

 2024 ended without what was planned.. Will Iraq succeed in escaping the “oil curse”?

Shafaq News/ Iraq witnessed a significant increase in non-oil revenues at the end of last year 2024, as it reached 12% of total public revenues compared to non-oil revenues for the year 2023, while economic experts believe that this number is less than the planned target within the government’s plans.

In this regard, economic expert Nabil Al-Marsoumi told Shafaq News Agency, “The total non-oil revenues achieved in Iraq until last October amounted to 14.438 trillion dinars, representing 12% of total public revenues, compared to 7% in 2023,” noting that “the plan was to achieve 27 trillion dinars in non-oil revenues, representing 20% ​​of public revenues, as Iraq was supposed to achieve non-oil revenues for the year 2024 worth 27 trillion, and this number has not been achieved so far, and almost half of it has been achieved.”

He stressed that “Al-Sudani’s plan is to achieve non-oil revenues of 20% of public revenues, which has not been achieved either, as only 12% has been achieved so far, slightly exceeding half,” indicating that “the increase in the percentage of non-oil revenues, which consists of fees, taxes, profits of public companies, and other financial matters, is important to the Iraqi economy and lies in getting rid of the dependence on oil revenues.”

Al-Marsoumi continued, “The importance of Iraq reaching the 20% rate that Al-Sudani called for is to make Iraq not rely on oil revenues because they are volatile due to prices,” stressing that “the biggest challenge facing Iraq in increasing non-oil revenues is the lack of diversification of the Iraqi economy. In other words, the government must increase agricultural and industrial activities and other activities in the gross domestic product, as today more than half of the GDP is contributed by one commodity, which is oil, and diversification in production means that we create an internal economic process as well as job opportunities for citizens.”

He added, “Iraq, to ​​this day, does not have a clear development plan enacted by law. When there is diversity in production, we need a strict and efficient tax system capable of transferring tax money to the public treasury, and we are in fact very far from this matter at the present time.”

Add to “double”

In turn, the economic expert, Mustafa Hantoush, believes that the most prominent thing that led to the increase in non-oil revenues in Iraq during the year 2024 is the success of the United Nations (Scud) program, as many containers now come through (regular customs) after they used to enter randomly, stressing that this step led to an increase in the revenues of the Customs and Ports Authority to (double).

Hantoush told Shafak News Agency, “There are also some self-financing companies (profitable) that have led to an increase in non-oil revenue rates, as the state has withdrawn part of the money from those companies (their revenues) and returned it to them when needed.”

He explained that “the challenges facing non-oil revenues in Iraq are the absence of only two factors, the first: the regulatory laws that allow the state to seize all revenues for all parties, the second: the electronic factor, in other words today the central bank when it transfers 65 million billion dollars for the purpose of purchasing goods, for example, it is supposed that from these amounts comes customs and taxes of 6 billion dollars, but so far this amount has not come, as we now see the amounts collected are only one and a half billion dollars.

He added, “If the process of linking the Central Bank with the transfers and credits process and the outlets is completed and the amounts are taken in advance, for example, any transfer for a certain commodity has the insurance and tax fees taken in advance, here we will be able to raise the customs tax revenues in the country to the specified number when transferring the amounts annually to purchase the goods,” indicating that “many tax and traffic revenues, if the process of automation is completed, we believe that they will double.”

He explained that “the positive effects of increasing non-oil revenues are related to increasing the state’s treasury and thus enabling the state to move in wider financial areas, as there are many non-oil sources, perhaps the most prominent of which is the Ministry of Oil itself, as well as electricity, transportation and communications. In these ministries, the state is supposed to improve its ability to collect and exploit its capabilities.”

Hantoush confirmed, “There are places like the Baghdad Municipality and municipalities that have a huge wealth of properties that are not fully utilized. If the state is able to exploit these places and sites through specialized committees, we can enable the government to obtain large sums of money in this regard.”

shafaq.com

MELANIA HINDS CC HIGHLIGHTS NOTES, 4 JAN

 MELANIA HINDS CC HIGHLIGHTS NOTES

Chapter Summary: Analyzing the Current Economic and Currency Dynamics in Iraq

Introduction

Introduction

The ongoing economic developments in Iraq, particularly regarding the Iraqi dinarand its potential revaluation, have garnered significant attention among investors and citizens alike. 

This chapter provides a detailed summary of current events and insights from various sources, highlighting the implications of Iraq’s abundant natural resources, the cessation of the dollar auction system, and the anticipated changes in currency dynamics. The discussion draws on various key concepts such as digital currencyforeign exchange (Forex), and the Central Bank of Iraq (CBI), framing the significance of these developments in a global economic context.

The Status of the Iraqi Currency and Central Bank Initiatives

  • The Central Bank of Iraq has ceased the dollar auction system, which is perceived as a strategic move to enhance the value of the Iraqi dinar.
  • Reports indicate that citizens utilizing digital cards are currently receiving a  purchasing power of 10 cents, signaling a shift towards a more stable economic environment.
  • The Kurdistan Regional Government is on an 11-day holiday, creating a temporary stall in economic updates, yet expectations remain high for forthcoming announcements regarding the dinar’s value.

Key Insights:

  • Iraq ranks first in the world for the concentration of national resources per square kilometer and ninth in overall value, estimated at over $16 trillion.
  • These statistics bolster the argument for a potential increase in the dinar’s value, spurred by a robust resource base.

Anticipated Changes in Currency Value

  • The market is abuzz with speculation that the Iraqi dinar could see a revaluation soon, with some sources suggesting a new rate could be announced shortly after January 7.
  • Dr. Shabibi’s historical assertion that the dinar could support a value of $16 per unit adds credibility to current optimism.

Supporting Opinions:

  • Various insiders express confidence that all necessary measures for the dinar’s revaluation are in place, and the market is simply awaiting the right moment for the official announcement.
  • Mark Z, a trusted contact, emphasizes that dollarization processes are under way, indicating a shift towards a more independent Iraqi economy.

Transition from Dollar Auctions

  • The Deputy Governor of the Central Bank, Omar Khif, confirmed the permanent cessation of the dollar auction system, projected to conclude by the end of 2024.
  • This transition aligns with broader economic reforms aimed at reducing reliance on the dollar and fostering a more sustainable financial framework within Iraq.

Contextual Analysis:

  • As the dollar auction system fades, most traders have adapted to new mechanisms that do not directly involve the Central Bank in foreign currency access.
  • This strategic shift is crucial for Iraq’s economic sovereignty and paves the way for the Iraqi dinar to gain legitimate standing in global markets.

Real-World Applications and Implications

  • The introduction of a new electronic system for currency management is part of Iraq’s effort to modernize its financial infrastructure.
  • Iraqi citizens are beginning to receive education on Forex trading, positioning them to take advantage of potential increases in the dinar’s purchasing power.

Case Studies:

  • The ASYCUDAS system (Automated Customs Data System) is set to be implemented, emphasizing the need for the dinar to be active on Forex to facilitate seamless customs operations.
  • The anticipation surrounding the dinar’s revaluation is not merely speculative; it is underpinned by foundational reforms that are already taking shape.

Community Engagement and Faith-Based Strategies

  • The speaker emphasizes the importance of community involvement and faith in navigating this economic landscape, suggesting that collective efforts can manifest positive outcomes.
  • Regular live streams and discussions are set up to engage the community in understanding how to leverage their financial positions effectively.

Conclusion

The evolving economic landscape in Iraq presents a unique convergence of resources, reform, and opportunity. As the Central Bank of Iraq moves away from dollar auctions and towards a more independent monetary policy, the potential for a revaluation of the Iraqi dinar grows increasingly probable. The community’s proactive engagement, combined with faith-based approaches to financial prosperity, underscores the importance of collective action in these uncertain times. As we approach critical dates in January, the anticipation surrounding the dinar’s fate encapsulates the hopes and aspirations of a nation on the brink of transformation.

Key Takeaways:

  • Iraq’s abundant resources position it well for a stronger currency.
  • The cessation of the dollar auction system marks a pivotal shift in economic strategy.
  • Community engagement and spiritual practices play a crucial role in navigating financial changes.
  • The next few weeks could be critical for the Iraqi dinar, with potential announcements expected that may redefine its value.

This overview underscores the multifaceted nature of Iraq’s economic journey, illustrating how intertwined financial policies, community efforts, and resource management can shape a nation’s future.