STATUS OF THE RV , PART. 5 BY MNT GOAT, 18 JAN

 STATUS OF THE RV , PART. 5 

So, this next statement made by Al-Tamimi is also all telling in what the next stage is  going to be and what they need to get there. I believe she is saying this because they are ready already for the next stage. 

She explained that the Central Bank has replaced the electronic platform “with regular and natural transfer mechanisms”, through solid local banks, which provides merchants with direct ways to transfer money, stressing that these mechanisms contribute to their obtaining the dollar at the official price, which helps in gradually reducing inflation as a result of the stability of the official dollar price.

Oh … but here is the juicy part of Al-Tamimi’s commentary in this article. He also stressed that “with this measure, the need to deal in the unofficial dollar on the black market is reduced, which enhances the stability of the financial market in Iraq.” So here it is said again. How many more times must we hear this before it sinks in what is holding up going to FOREX, the next stage?

Today is Thursday and I did have a conversation with my CBI contact yesterday. This is why I am very excited today when I pulled this article off the Iraqi news channels. I could hardly believe that now the economic experts have finally turned to the mantra. The new mantra is – LETS GO TO FOREX! This was the same tone in my conversation. My contact sounded VERY excited and anticipatory.

😊There is another article that I want to address the title is “ADVISOR TO THE PRIME MINISTER: IRAQ IS WITNESSING AN EXPECTED INVESTMENT BOOM IN 2025”

The article says that advisor to the Prime Minister for Financial Affairs, Mazhar Muhammad Salih, confirmed today, Wednesday, that the Iraqi economic path is moving in the right development direction for the coming years, while indicating that economic growth in 2024 constitutes an incentive to expand economic activities in Iraq.

Saleh said, in a statement to the Iraqi News Agency (INA): “There is a principle in the economy called the economic accelerator, which means that the growth in the non-oil GDP, which reached 6% in 2024, will be positively reflected in the strength of national investment in 2025.” He added, “The Iraqi economy will witness a high investment boom in 2025 thanks to the economic accelerator factor in the investment field, in addition to the high positive growth effects of national income in 2024.”

Okay so what does this all “accelerator” stuff mean?

This means that when you get to a point in your growing economy, with the right policies and laws in place it is ready for takeoff, like an airplane that is all gassed-up, the pilots have conducted their sequence of flight checks and all passengers are seated and buckled up. Like the airplane, the economy can then take off.

 For the economy it's “exponentially”. Like an airplane that has to use the bulk of its power just on takeoff to get off the ground, the same applies to an economy’s growth. 

But once the plane is in the air it can stay up in the with less force and glide through the air with its engines and so will the Iraq economy. That is what is going to happen in 2025. Through 2023 and 2024, the right policies and laws were put in place. 

The right measures needed for this growth and takeoff are finally attracting investors and we even see it in three (3) of today’s other articles too for this period titled:

😊“AL-SUDANI: IRAQ IS AMONG THE MOST ATTRACTIVE COUNTRIES FOR INVESTMENT DURING THE PAST TWO YEARS”  

😊“SHELL OIL COMPANY ANNOUNCES ITS READINESS TO INCREASE ITS INVESTMENTS IN IRAQ”

😊“IRAQ SIGNS A MEMORANDUM OF UNDERSTANDING WITH THE BRITISH EXPORT CREDIT GUARANTEE CORPORATION.. AND THESE ARE ITS OBJECTIVES”

Are you listening to what Saleh is telling us?

WOW! WOW! WOW! WOW! WOW! WOW! and WOW! again! The news today is mind blowing and I hope everyone shares this passion too. It seems now that Iraq is moving into the BIG TIME and I mean major plays are flocking to Iraq to invest their money. This is not Mnt Goat over exaggerating this notion. It is Iraq themselves showing us proof.

The news is NO LONGER all about putting measures in place, such as the banking and financial reforms we have been reading about, but the “next step”. But what will the next stage look like? Will it be what we expect and want as dinar holders and investors?

 I also do not want to downplay any more reforms either as they will be ongoing too. But the question I pose is has Iraq finally reached this turning point we all have been waiting for? Is it time?

https://mntgoatnewsusa.com/latest-mnt-goat-newsletter/

MILITIAMAN: before they go international, they need have their banks restructured!!‪@DINARREVALUATION‬

 

Central Bank: Closing the electronic platform will not affect the movement of remittances at all, 18 JAN

 Central Bank: Closing the electronic platform will not affect the movement of remittances at all

economy | 09:47 - 01/16/2025  Mawazine News – Baghdad  The Central Bank of Iraq confirmed that closing the platform will not affect the movement of remittances at all, while noting that transfers through this platform until 12/23/2024 are less than 7 percent of total sales.

A source explained to the official newspaper, which was followed by (Mawazine News), that "the aim of this step is to control financial operations and work within the international scope in the process of foreign transfers and adopt the method of correspondent banks, which contributes to enhancing the stability of the financial sector in light of the current circumstances.

" The Central Bank also indicated that "strengthening the balances of Iraqi banks that have correspondent banks abroad will continue as is," explaining that this does not mean stopping "currency selling" operations, but rather a change in their mechanisms within a method followed all over the world. ‘

He added that the mechanism for strengthening bank balances has changed, as it is now done through the accounts of Iraqi banks with correspondent banks directly, instead of the accounts that were done through the Central Bank, and that this new mechanism is dedicated to meeting the needs of imports and foreign trade of goods, commodities and services, which contributes to supporting the financial and economic stability of Iraq. https://www.mawazin.net/Details.aspx?jimare=258658

STATUS OF THE RV, PART. 4 BY MNT GOAT, 18 JAN

 STATUS OF THE RV, PART. 4

Oh, but here is the juicy part we all need to be paying attention to. 

Hantoush also suggested the “possibility of transferring the dollar to trading platforms in the stock market, to be sold to those entitled to it through direct transactions instead of sending the dollar exclusively to banks”, “stressing the need to organize these operations by switching to the “Forex” market,” and implementing mechanisms that ensure that funds are not transferred until the goods arrive with the banks’ guarantee. 

WOW! WOW! WOW! Did they just suggest using the trading platforms in the stock market i.e FOREX…. You gotta luv it… Music to my ears….

Now let’s take a step back to the White Paper. What does it say? Afterall this is the blueprint of how they are going to get back on FOREX, the end result. Let’s read page 50 of the White Paper below:

Then in the article economic expert Nabil Jabbar Al-Tamimi said: “The transfer platform at the Central Bank of Iraq was a mechanism for conducting financial transfers for merchants and importers through local banks, as the platform supervised these operations.”  

He added to Al-Sabah, saying: “The Central Bank has created the necessary conditions for conducting transfers by establishing direct relations between local banks and international banks through major correspondent banks, which means that transfers can be conducted in accordance with international standards without the need for an electronic platform.”

In other words, economic expert Nabil Jabbar Al-Tamimi is saying they are ready for FOREX after implementing all these banking and financial reforms.

 The White Paperreforms have been successful. It is time to move to the next stage which is….? 

Well folks financial and banking researcher Mustafa Hantoush just pointed out to us what the next stage should be. 

Yes, I mean FOREX! Did you hear me I said FOREX!

 Seems to me they are at the point of meeting the Obama era requirements and beyond as needed to go to this next stage.

 But remember this too, that just as the rules changed from the Bush era to Obama era they will most likely change from Obama era to Trump era in 2025. I do not see the Trump era administration not seeing the necessity for going to FOREX with all the progress of the reforms to move to the next stage. I am sure the US Treasury will agree.

 I am told by the CBI contact on Wednesday that they do agree and are giving Iraq a “thumbs up” to move ahead. So they agree too.

https://mntgoatnewsusa.com/latest-mnt-goat-newsletter/

Historic Dinar Revaluation Confirmed by Trump! 🎉 ‪@DINARREVALUATION‬ #iraqidinar #iraqidinarinvestor

 

IMPORTANT IRAQ NEWS: AL-SUDANI: IRAQ IS AMONG THE MOST ATTRACTIVE COUNTRIES FOR INVESTMENT DURING THE PAST TWO YEARS, 18 JAN

AL-SUDANI: IRAQ IS AMONG THE MOST ATTRACTIVE COUNTRIES FOR INVESTMENT DURING THE PAST TWO YEARS

Prime Minister Mohammed Shia al-Sudani confirmed on Wednesday that Iraq is among the most attractive countries for investment during the past two years,indicating that investment opportunities in Iraq are the most at the level of the countries of the region.

The media office of Prime Minister Mohammed Shia al-Sudani stated in a statement, which was reviewed by “Al-Eqtisad News”, that “Prime Minister Mohammed Shia al-Sudani participated, on the sidelines of his visit to the United Kingdom, in the financial symposium held in London, in the presence of major British financial companies, Iraqi private sector companies, and a number of government officials from both countries.”

According to the statement, al-Sudani pointed out during the symposium “the importance of this visit, which represents a new era in the relationship between the two friendly countries,” indicating that “Iraq has concluded a strategic agreement with the United Kingdom, in addition to agreements and memoranda of understanding between ministries and relevant authorities, and others signed by the private sector with British companies, stressing the need to translate these understandings into practical, useful, fruitful and implementable formulas.”

Al-Sudani spoke about the stable situation in Iraq, which has become a promising country for development, investment and work in all fields, pointing out that it has achieved real reforms based on reliance on the private sector. 

He explained that most of the economic reforms came with proposals from the private sector to facilitate the business environment and provide the best ways to work.

Al-Sudani said during the financial symposium that “reforming the financial and banking sector was a priority,” stressing “taking a series of steps to restructure government banks and contract with Ernst & Young, and the Central Bank contracting with Oliver Wyman.”

Al-Sudani added: “We have cooperation with the US Treasury, and today all transfers are made through correspondent banks and with reliable steps,” indicating: “We have provided sovereign guarantees to the private sector to reduce risks in productive projects in the country.”

The Prime Minister pointed out that “the Iraq Development Fund works as a new idea for the state in embracing and empowering the private sector,” noting that “the investment law in Iraq is the best in the region, as it enables investors to freely transfer profits and capital.”

He continued, saying: “Investment opportunities in Iraq are the most among the countries of the region, and Iraq is among the most attractive countries for investment during the past two years,” indicating: “We have noticed a desire among international companies to expand investment in Iraq and open new projects,” referring to “the need for an Iraqi and foreign banking sector capable of absorbing these operations and covering investment activity.”

He stressed that “Iraq needs insurance companies, and this sector must be strengthened through innovation, expanding digital insurance, and risk analysis,” explaining: “We are working to transfer expertise and knowledge to Iraqi cadres and enhance their capabilities in global investment methods.”

He concluded by saying: “The Iraq Investment Forum will be held next April, and we invite you to visit Iraq and take a closer look at the available opportunities.”

STATUS OF THE RV, PART. 3 BY MNT GOAT, 18 JAN

 STATUS OF THE RV, PART. 3 

The Central Bank of Iraq confirmed that closing the platform will not affect the movement of remittances at all, as remittances through this platform until 12/23/2024 represent less than 7 percent of total sales, according to a source in the bank.

The source explained to Al-Sabah that “the aim of this step is to control financial operations and work within the international scope in the process of foreign transfers and adopt the method of correspondent banks, which contributes to enhancing the stability of the financial sector in light of the current circumstances.”

Yes, Ali Al-Alaq does know what he is doing…. lol..lol..lol.. But what are these “current circumstances that are being referred to here in this article? I will tell you what they are – they are the circumstances are not having the dinar on the currency markets already, get it. Dr Shabibi wanted to go directly to FOREX and not have to go through all these other steps since we witnessed from Jan 2023.

The Central Bank also indicated that the strengthening of the balances of Iraqi banks that have correspondent banks abroad will continue as is, explaining that this does not mean stopping the “currency sale” operations, but rather a change in their mechanisms within a method followed all over the world .

He added that the “mechanism for strengthening bank balances has changed, as it is now done directly through the accounts of Iraqi banks with correspondent banks, instead of the accounts that were done through the Central Bank”, and that this new mechanism is dedicated to meeting the needs of imports and foreign trade of goods, commodities and services, which “contributes to supporting the financial and economic stability of Iraq”. Did they say the word “stability”? Didn’t the CBI tell us years ago they needed stability and security to conduct the Project to Delete the Zeros? Sounds to me they have it now. We also now know more of what the CBI meant by the use of that term Stability. It has become very clear to us now.

In the article financial and banking researcher Mustafa Hantoush pointed out that the Central Bank has strengthened the dollar accounts of Iraqi banks in foreign correspondent banks, which has “reduced the direct intervention of the Central Bank and allowed a greater role for foreign banks in auditing commercial operations.”

Hantoush also pointed out that “if the Central Bank wanted to reduce the gap in the dollar, it should open the door to competition between banks and rely on a basket of currencies to expand the options available in the market”, calling for amending the criteria for evaluating local banks and raising their financial capabilities, which would contribute to achieving stability and increasing competitiveness, and thus stabilizing the dollar price. Can you see now why reducing the gap in the rate between the parallel market and the CBI official rate is so important and vital to the next step? This objective is not going to change. It has to be done. They must stabilize the dollar price to the official CBI price.

https://mntgoatnewsusa.com/latest-mnt-goat-newsletter/