Sunday, May 18, 2025
Expert: Central Bank Reserves Declined By More Than 12% In Three Years
Expert: Central Bank Reserves Declined By More Than 12% In Three Years
Economy | 05/16/2025 Mawazine News - Baghdad - Economic affairs expert, Manar Al-Obaidi, confirmed today, Friday, that the Central Bank of Iraq's reserves witnessed a significant decline of more than 12% from the end of 2022 until March 2025.
Al-Obaidi said, in a statement received by Mawazine News, that "reserves declined by more than 20 trillion Iraqi dinars in a period of only 15 months, at a rate of 1.3 trillion dinars per month, equivalent to one billion dollars."
He added, "This decline cannot be read in isolation from the continuous rise in the import bill, which has begun to drain the state's hard currency resources on a daily basis."
Al-Obaidi pointed out that "this decline is due to Iraq's almost total dependence on foreign exchange to meet its consumer and production needs, in light of the absence of efficient local alternatives, the weakness of the industrial and agricultural sectors, and the continued operation of the currency window mechanism in its current form." https://www.mawazin.net/Details.aspx?jimare=261491
ADAM STEPHENS UPDATE
Hello Everyone...
I've been keeping a close watch on the events surrounding President Trumps trip to the Middle East and the weekend before. I've never seen a administration accomplish what they have.
The Comms of global currency revaluation are front and center and clear as a bell. From the UK Trade deal, to the New American Pope, to the Trade Reset deal with China, to Taking action addressing pharmaceutical companies, create a program to help illegal migrants to self deport, and then all of the incredible deals and actions taken in the Middle East...
We are clearly seeing an incredible change that is happening... NOW.
It's very clear that the Arab Nations want to announce multiple currency revaluations at the the Arab Summit themselves.... especially considering who is attending and has already arrived for the 1 day summit.
Be aware everyone... The summit starts in a couple hours.
Majeed just posted that the Dinar and other currencies are ready and loaded on FOREX...
That is a 100% TRUE statement in my strong opinion.
We are watching history unfold and happen in front of our eyes. What a time to be alive.
James Comey will be dealt with and will trigger others to be arrested publicly as well as watch for more distractions to happen.
It's time for the world to heal and the people who have suffered for so long to have a opportunity to thrive.
Adam Stephens
A2Z DREAMZ
UN Secretary-General: We are pleased with the positive development taking place in Iraq
UN Secretary-General: We are pleased with the positive development taking place in Iraq.
UN Secretary-General António Guterres expressed his satisfaction on Saturday with the progress made by Iraq. While noting that the time is right to conclude the UNAMI mission in Iraq by the end of this year, which reflects the maturity of the Iraqi political process, he emphasized that the 34th Arab Summit is being held at a critical moment for the Middle East.
"I am pleased to be in Baghdad again to participate in the Arab League summit, at a crucial moment for the Middle East," Guterres said at a press conference on the sidelines of the Arab Summit in Baghdad, as monitored by Al-Eqtisad News. He explained that "the ground is shifting beneath our feet, but these radical transformations are not natural forces, but rather the results of specific choices, and the solutions are in the hands of decision-makers."
He added that "these solutions must focus, first and foremost, on making the most of the region's enormous potential," adding: "We all know that the peoples of the Arab world aspire to a better future, and that there are demands for justice, dignity, and rights."
He pointed out that "in Lebanon, the ceasefire, territorial integrity, and adherence to international resolutions must be respected. As for Syria, the Syrian people yearn for a comprehensive political transition that heals national wounds and strengthens Syria's integration into the international community and economy, while also ensuring that the imposed sanctions are lifted."
He continued, "The situation in Gaza is beyond description. There is a blockade, starvation, and a violation of international law, and it must stop." He explained, "The collective punishment imposed on the Palestinian people cannot be justified."
He explained, "We need a permanent ceasefire and to ensure the free flow of humanitarian aid into Gaza."
Regarding the situation in Sudan, Guterres stressed, "Yesterday we held an important meeting with the Secretary-General of the League of Arab States and representatives of the African Union to continue coordinating peace initiatives in Sudan. We have unofficial representatives in Addis Ababa to facilitate coordination between the three mechanisms working towards a peaceful solution."
Regarding the Iraqi file, Guterres said, "I am pleased with the progress made by Iraq," stressing that "at the end of this year, the United Nations mission in Iraq will officially conclude, reflecting the maturity of the Iraqi political process."
He explained that "UN agencies will continue to work in Iraq to support development, organize elections, and provide technical support to the Iraqi government." link
TIDBIT FROM FRANK26
Frank26
Things are moving at a very quick pace because of Trump and so is the monetary reform of Iraq because Trump is being successful bringing security and stability to the Middle East,
to Iraq, for the monetary reform to reveal with confidence...the new exchange rate.
Question "Do you think the RI will happen at $3.22 and then float?"
I hope so but at least $1.25 and go...right where you left off, $3.22. Why waste time waiting for it to get to that point when they got enough to back it up.
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