IRAQ
•Iraq is expected to join the WTO by end of Q1=meaning {by March 31st}.
•Iraq internal financial 24’ budget ends on March 31st meaning the {2025 spending budget books begin/opens}.
•The Dinar Cannot be the same current official rate at 1310 for the new 2025 budget (just sayin).
•Trump State of The Union speech is scheduled for March 4th which is the Original inauguration date of our REPUBLIC…
…& wouldn’t it be GLORIOUS with a big announcement by Trump informing the nation that the U.S. has paid up in full the national debt of $36 Trillion by you already know how…which the normies won’t have a clue exactly how it was done, but us investors knowing it was by the (IQD REINSTATEMENT).
{no wonder bill clinton had a damn surplus while President in the 90’s— i wonder what happened in March 24, 1991 in Kuwait}
Don’t mind me…I’m just thinking out loud
Economist Salah Nouri said on Tuesday that the reserve in the Central Bank consists of (the dollar currency, the euro currency, gold is based on the London market price.
In his interview with {Euphrates News}, Nouri explained that “the Central Bank’s policy aims to diversify the investment portfolio between the dollar currency and gold, as this portfolio is managed according to global variables.”
He pointed out that “the central bank has investments in the form of debt bonds in the US Treasury with acceptable interest.”
“In light of the current international changes and the statements of US President Trump, the central bank can move towards gold as a safe haven,” Nouri continued.
He added: “According to the central bank’s announcements, gold reserves promise the level of safety, in addition to the dollar reserves, which can help maintain economic stability.”
Regarding economic challenges, Nouri pointed out that “the difficulties that Iraq may face are related to the financial policy managed by the Ministry of Finance, as the low oil prices and determining the amount of exports and problems with the region lead to a decrease in the ministry’s revenues from oil sales in dollars, as well as the US Federal policy that transfers the dollar to the Ministry of Finance.”
“These difficulties in fiscal policy negatively affect the monetary policy pursued by the Central Bank of Iraq,” Nouri continued.
This is what I was talking about, once Trump gets into office how is this going to affect Iraq.
You see Trump has already approached Saudi Arabia and OPEC to ramp up production of oil. If they ramp up production of oil this will drive down the cost per barrel. Of course here in America we benefit from it, lower gas prices...Iraq...
they have built everything based on $70 per barrel of oil. Now the new budget hasn't passed yet.
One of the things...they need to figure out is how much they think they're going to get per barrel. If they ramp production that's diluting the market with oil. That's going to cause the price to go down. That's one of the things I was concerned about.
The head of the Iraqi Business Council, Daoud Abdul Zair, considered the continuation of the budget deficit a “great danger” on salaries, while he revealed an upcoming visit by the Central Bank of Iraq to Washington to discuss important issues.
Abdul Zair, during his hosting in the program {Free Words} broadcast by Al-Furat satellite channel on Tuesday evening, said: “The rise in operational spending since 2019 is due to employment, government and federal obligations, and employee salaries, along with the requirements of the political and administrative situation of the state,
explaining that “80% of operational spending goes to salaries, while 10% is allocated to sustain the management of public resources.” Abdul Zayer pointed out that “corruption represents a prominent problem in government spending in general, including operating spending,” stressing that “the main imbalance lies in the philosophy of managing the economy in the country, where salaries are supposed to be financed from local revenues.”
He added that “the Prime Minister has diagnosed this defect; however, Iraq always faces emergency crises that prevent the provision of a suitable climate to convert oil resources into development and investment projects capable of covering part of operational spending.”
“Salaries constitute a great burden on the budget, as it reaches 8 trillion dinars,” Abdul Ziyar said. Regarding financing,
Abdul Zair stressed that “the internal debt is safer and faster compared to the external debt, which imposes complex restrictions and conditions on Iraq,” warning that “the continuation of the budget deficit constitutes a threat to salaries,” pointing out that “the Central Bank’s reserves represent the sovereign fund of Iraq.”
He touched on “the impact of oil price fluctuations, saying that the reserves of the Iraqi dinar are based on oil reserves, which gives Iraq flexibility to act in the event of low oil prices,” adding that “Iraq’s non-compliance with OPEC decisions on reducing production may lead to low prices.”
“An upcoming visit by the Central Bank of Iraq to Washington to discuss intractable issues, such as the exit of the dollar to punishing countries, and foreign trade through American banks to ensure control over the transfer of funds,” Abdul Zair revealed.
He pointed out that “as of this year, the bank account will be financed in dollars directly from the central bank away from the currency auction, and the process will be limited to 5 local banks approved by the US Treasury, most of them foreign.” Abdel Zair concluded by pointing out that “the performance of the central bank so far does not meet the ambitions,” stressing that “reliance on the export of crude oil will remain a chronic problem unless it is converted into oil industries that contribute to supporting the national economy.”
The below message recently comes up on this site [xe] when you inquire about the IQD. It says “Notice IQD may be redenominated”.
This redenomination is the newer lower denominations we have been waiting for. Yes, they will have to execute the Project to Delete the Zeros.
We know that the CBI must also raise the rate of the dinar at par or just over a dollar within country to get this project started and create incentives to turn in the dollars.
This is really the final push to de-dollarize Iraq. The CBI still needs to break this parallel market. As long as the dinar is much lower than the dollar this issue will linger.
•Iraq is expected to join the WTO by end of Q1=meaning {by March 31st}.
•Iraq internal financial 24’ budget ends on March 31st meaning the {2025 spending budget books begin/opens}.
•The Dinar Cannot be the same current official rate at 1310 for the new 2025 budget (just sayin).
•Trump State of The Union speech is scheduled for March 4th which is the Original inauguration date of our REPUBLIC…
…& wouldn’t it be GLORIOUS with a big announcement by Trump informing the nation that the U.S. has paid up in full the national debt of $36 Trillion by you already know how…which the normies won’t have a clue exactly how it was done, but us investors knowing it was by the (IQD REINSTATEMENT).
{no wonder bill clinton had a damn surplus while President in the 90’s— i wonder what happened in March 24, 1991 in Kuwait}
Don’t mind me…I’m just thinking out loud 