CLARE: Iraq is working diligently to establish security in the region! @DINARREVALUATION #iqd

 

Economist: The Government’s Measures Did Not Close The Gap Between The Official And Parallel Price Of The Dollar, 7 JAN

 Economist: The Government’s Measures Did Not Close The Gap Between The Official And Parallel Price Of The Dollar

 January 5 10:55  Information / Baghdad...Economic affairs researcher Diaa Abdel Karim said that  government measures regarding government and private banks and issuing decisions about exchange companies were unable to close the gap between the official and parallel dollar exchange rates.  Abdul Karim told Al-Maalouma,

 “The parallel exchange rate for the dollar is approximately 20,000 Iraqi dinars higher than the official one, as  it is a big difference with the official selling price at the Central Bank outlets, and it requires the government to intervene to take further measures to eliminate this difference.”".

He added,  "There is an urgent need to take measures that would stop any transactions in dollars at home, including ending transactions in dollars regarding the buying and selling of cars in trade showrooms, where citizens resort to buying dollars from banking outlets in order to go to official or private showrooms to buy a car." He stated,

“The government can open a window and allocate it to sell dollars for the purpose of buying a car,

 or

 impose strict control and force official exhibitions not to deal in dollars, in order to limit foreign currency to foreign transfers, travel, and imports, and

 the dollar is sold in official outlets only, in order to end the difference between the official and parallel prices.”. End25n  

CLARE: Iraq is working diligently to establish security in the region, 7 JAN

 Clare  

 Article:   "Al-Sudani receives a "special" message from Trump: Syria, Iran and the factions" 

 Quote:   "The source told Shafaq News Agency that Al-Sudani received a message from Donald Trump through a special envoy on an unannounced visit, which included several axes.  

The source pointed out that the most prominent axes are the necessity of containing and controlling weapons outside the framework of the state, stopping the activity of factions linked to Iran...Meanwhile, a government source...Iraq is working diligently to establish security in the region, and that the Prime Minister will present Iraq's vision in this regard during a visit to Iran."

JON DOWLING: "Iraq’s HCL Oil &Gas law ITS READY TO GO TO THE GAZETTE @DINARREVALUATION #iraqidinar

 

Al-Sudani: Building the army was the best option when terrorism struck Iraq, 7 JAN

 Al-Sudani: Building the army was the best option when terrorism struck Iraq

Baghdad / NINA / -Commander-in-Chief of the Armed Forces Mohammed Shia al-Sudani stressed: "The best option when terrorism struck Iraq was to build the army." 

Al-Sudani said in a speech at the central celebration of the 104th anniversary of the founding of the Iraqi army: "The Iraqi army went through turns and transformations, and lived for years as a prisoner of politics and absurd wars, due to the tyranny of the dictatorial regime, to fight immoral wars that exhausted it and made it disintegrated, and many men of the armed forces stood against the former regime at that time, and were exposed to execution and torture because of this position." 

He added: "After the dawn of freedom in Iraq, our army returned to the position it deserves, and to be a defender of its homeland and its people. With the fall of the dictatorial regime, the army is no longer a tool in the hands of the ruler to control the necks of the people, and this is one of the gains of our democratic system that does not allow monopolization of power or engaging in adventures that cause the destruction of the country. " 

He explained that: "When terrorism struck Iraq, the first and best option was to rebuild our army, gather all its professional national elements, and support the existence of the Iraqi state and its institutions. The units and formations of this constitutional national entity expanded to become the size of the challenges, the requirements of the stage, and the danger threatening the homeland." / End

DINAR REVALUATION: IRAQ STATUS, 7 JAN

DINAR REVALUATION: IRAQ STATUS

Highlights

Summary

Here we discuss significant changes in Iraq’s financial landscape, particularly regarding the U.S. dollar’s status and the Central Bank of Iraq’s (CBI) auction operations. 

 Iraq is transitioning to a more normalized method of doing business with the outside world, moving away from the long-standing practice of currency auctions that have dominated its financial system for decades.

 The CBI has recently made headlines by selling over a billion dollars in just four days, challenging perceptions that currency auctions are obsolete.

 However, the auctions have shifted from domestic cash withdrawals to overseas operations, marking a strategic pivot towards reform. This change aims to enhance the Iraqi dinar’s relevance in international trade, attract global investors, and foster a stable banking system, which is crucial for economic growth.

The importance of diversifying Iraq’s economy beyond oil, focusing on non-oil GDP growth spurred by government initiatives, entrepreneurial activities, and foreign investments.  

A strong non-oil GDP can lead to a more stable currency and improved living standards. Drawing parallels with successful examples from countries like the UAE and Norway, the video outlines the potential benefits and challenges that Iraq may face in its journey toward economic diversification and stability.

• 🌍 Iraq’s New Financial Era: The U.S. dollar enters a new phase as Iraq normalizes its business operations with the world.
• 💰 Auction Reforms: The Central Bank of Iraq has sold over a billion dollars in four days, shifting auctions from domestic to international markets.
• 🔄 Banking System Shift: Iraq’s banking reforms focus on transparency and efficiency to attract global investments and foster local economic growth.
• 📈 Non-Oil GDP Importance: The rise of non-oil GDP signals economic diversification, reducing reliance on fluctuating oil prices.
• 🌱 Community Impact: Improved banking practices can lead to better access to loans for small businesses, stimulating local economies.
• 🌎 Regional Influence: Iraq’s banking reforms could serve as a model for neighboring countries, promoting financial stability in the Middle East.
• 🚀 Future Prospects: With collective efforts in supporting non-oil sectors and local businesses, Iraq can pave the way for sustained economic growth.

Key Insights

• 📊 Transition to International Auctions: By moving currency auctions abroad, Iraq is signaling a significant shift in its banking operations. This reform is crucial for establishing Iraq’s presence in international finance, ensuring the dinar’s relevance, and encouraging foreign investment. The ability to conduct business with overseas banks highlights a more sophisticated financial system that can adapt to global market demands. This emphasizes the importance of a robust banking infrastructure for Iraq’s economic future.

• 🌟 Economic Diversification as a Strategy: The emphasis on non-oil GDP is critical for Iraq’s long-term economic stability. By fostering sectors like agriculture, technology, and services, Iraq can mitigate the risks associated with oil price volatility. This diversification not only leads to a more resilient economy but also creates job opportunities, thereby enhancing the overall quality of life for its citizens.

• ⚖️ Impact of Government Policies: Effective government policies are central to fostering a favorable environment for non-oil sectors. Investment incentives and support for small businesses can catalyze growth and innovation. By prioritizing these areas, the government can stimulate local economies and reduce unemployment, contributing to a more sustainable economic landscape.

• 🤝 Role of Foreign Investments: The increase in foreign investments in non-oil sectors indicates a growing confidence in Iraq’s economic potential. International companies are diversifying their portfolios, which not only brings in capital but also expertise and innovation. This influx of foreign direct investment (FDI) is essential for creating a competitive market that can thrive independently of oil revenues.

• 🏦 Trust in Financial Institutions: The ongoing banking reforms aim to enhance transparency and compliance with international standards. Building trust in financial institutions is vital for attracting both local and foreign investors. A stable banking system can facilitate better financial practices, leading to improved access to loans for individuals and businesses, further driving economic growth.

• 💡 Local Entrepreneurship: As banking reforms take shape, small business owners are likely to benefit significantly from improved access to financing. This empowerment of local entrepreneurs can stimulate job creation and economic development at the grassroots level. By fostering an entrepreneurial spirit, Iraq can harness the potential of its citizens to fuel economic growth.

• 🌍 Regional Stability through Economic Cooperation: Iraq’s banking reforms could serve as a blueprint for neighboring countries. By adopting similar practices, the region could experience enhanced financial stability and cooperation, leading to stronger trade relationships. This collaborative approach could pave the way for shared economic goals and a more unified Middle Eastern economy.

As Iraq navigates these transformative changes, it is essential for citizens and stakeholders to remain engaged and informed. The collective efforts of the government, businesses, and individuals will play a crucial role in realizing the potential benefits of these reforms. With a proactive approach, Iraq can build a resilient economy that thrives on diversification, innovation, and international collaboration.

FRANK26: STOP AUCTIONS MEANS ADD A NEW EXCHANGE RATE TO THE DINAR!! @DINARREVALUATION #iqd