Thursday, July 10, 2025
GOVERNMENT ADVISOR: THE GOVERNMENT HAS SUCCEEDED IN MANAGING FISCAL POLICY
GOVERNMENT ADVISOR: THE GOVERNMENT HAS SUCCEEDED IN MANAGING FISCAL POLICY.
The Prime Minister’s financial advisor, Mazhar Mohammed Salih, explained on Friday the reasons for the delay in submitting the budget schedules, while stressing that the government has succeeded in managing the country’s financial and economic policy.
Saleh said, “The financial compass reading, which required the submission of the 2025 budget tables for legal approval under Article 77/Second of the Budget Law, was truly delayed for two fundamental reasons:
1.The first was to await the amendment to the three-year general budget law regarding the value of the region’s oil contracts and the costs of transporting its oil, which were not approved until last February.
2.The other reason relates to the fluctuations that global energy markets were exposed to and the effects of global oil prices on the general budget, which also required rereading some financial constants and variables, whether revenues, expenditures, deficit financing and its sources, more than once due to international geopolitical and economic problems and the major issues that occurred in the global economy at a rapid pace, which led to the generation of volatile shocks in close periods of the current fiscal year, which necessitated hedging against external shocks.”
He added that “all these factors led to the delay in submitting budget schedules to review some of its inputs and outputs,” noting that “there is significant and ongoing cooperation between the legislative and executive authorities in monitoring and managing the country’s financial affairs, with understanding, interaction, and optimization of great importance to ensuring the economic stability the country is experiencing.”
Regarding the impact of delayed budget schedules on projects included in the investment section, Saleh pointed out that, “Based on the Federal General Budget Law No. 13 of 2023, the three-year budget, the federal financial policy was formed based on an approach called ‘fiscal space’, which gave it the high capacity to move dozens of approved and previously suspended strategic government projects forward into implementation. This is what distinguished it with a highly active development wheel in implementing service projects that the country is witnessing without interruption, and its results have become tangible thanks to the success of the three-year budget, in addition to the major projects approved in the 2023 and 2024 budget schedules, which are currently ongoing without interruption.”
He stressed that “the state’s investment approach is proceeding in line with the sustainability of economic development and in accordance with the high positive results currently achieved in growth rates and the great economic stability that the country is witnessing, whether in terms of declining unemployment rates, increasing economic growth, and price stability, in an active and compatible trilogy achieved as a result of the success of the country’s financial and economic policy without interruption in the wheels of public spending, including the current year 2025.”
He continued, “As far as the rights and entitlements acquired in the operational aspect of the general budget are concerned, but have not been disbursed and are contingent upon the submission of the 2025 financial schedules, these are legally protected rights reserved for their beneficiaries and are not subject to statute of limitations. They are merely a matter of timing and will be disbursed upon the approval of these schedules or any adjustment that does not conflict with the law.”
SANDY INGRAM: The IQD Currency Boom Key? The IMF Article VIII
SANDY INGRAM: The IQD Currency Boom Key? The IMF Article VIII
Summary
In this video, Sandy Ingram discusses the current status and future potential of the Iraqi dinar (IQD) as an investment, focusing particularly on the currency’s prospects for floating freely on the open market.
Iraq’s considerable oil reserves and ongoing reconstruction efforts underpin its medium-term economic outlook.
However, before the dinar can become a viable currency for widespread international trade and investment, Iraq must meet certain financial and regulatory standards, including gaining Article 8 status under the International Monetary Fund (IMF) framework. Article 8 status would signify Iraq’s commitment to open and fair currency exchange policies, boosting investor confidence and integrating the country into the global economy.
The video explains Article 8 in detail, highlighting its role in preventing countries from imposing restrictions on current payments and unfairly discriminating against foreign exchange dealings. While Iraq has not yet achieved Article 8 status, consultations have taken place, and the government is working to modernize its banking system, limit black market activities, and strengthen official currency channels. These efforts are crucial to the dinar’s long-term appreciation.
For investors seeking quicker returns, Sandy suggests looking beyond the Iraqi dinar and considering the Indian rupee (INR). India’s rapidly growing economy, burgeoning tech sector, and increasing foreign investment have created a favorable environment for short-term currency gains. The government’s push for digital infrastructure and payment systems enhances the rupee’s stability. Sandy recommends purchasing physical Indian rupees from reputable sources and holding them until the exchange rate improves against the US dollar. This strategy offers investors a more immediate return compared to the longer-term potential of the Iraqi dinar.
Highlights
- 💰 The Iraqi dinar (IQD) is considered a medium-term investment due to Iraq’s rebuilding and economic modernization efforts.
- 🏦 Article 8 status under the IMF is crucial for Iraq to enable open and fair currency exchange practices.
- 🌍 Article 8 aims to eliminate restrictions on current payments and prevent discriminatory currency actions.
- 📈 Iraq currently does not have Article 8 status but is in consultations and working toward it.
- 🇮🇳 For short-term returns, the Indian rupee (INR) is recommended due to India’s fast-growing economy and tech sector.
- 💳 India’s focus on digital payments and infrastructure upgrades supports currency stability and growth.
- 🏪 Investors can buy physical Indian rupees from reputable online stores for potential quick gains.
Key Insights
🛢️ Iraq’s Oil Wealth as a Foundation for Currency Value: Iraq’s vast oil reserves, among the largest globally, are a fundamental driver of the country’s economic potential. Oil revenues bring substantial foreign currency inflows, essential for stabilizing and strengthening the dinar. However, oil wealth alone is insufficient; economic diversification and effective governance are necessary for sustained currency appreciation. The rebuilding of Iraq’s infrastructure and financial systems will critically influence the dinar’s future value.
📜 Significance of Article 8 for Currency Convertibility and Investor Confidence: Article 8 of the IMF agreement is a benchmark showing a country’s commitment to open currency policies. It bans restrictions on current payments and discriminatory currency practices, fostering trust among international investors and traders. Achieving Article 8 status can lead to increased foreign investment and smoother currency trading. Iraq’s failure to secure this status so far has limited the dinar’s appeal to global markets, but ongoing consultations suggest progress is being made.
💹 Impact of Black Market and Exchange Controls on Currency Stability: Iraq’s government efforts to curb black market currency trading and strengthen official exchange channels are critical for improving the dinar’s reliability. Black market activity undermines official exchange rates and investor confidence, creating volatility and uncertainty. By tightening controls and promoting transparency, Iraq can better regulate its currency and attract foreign investors, which is essential for the dinar’s growth potential.
🇮🇳 Indian Rupee as a Short-Term Currency Investment Opportunity: The Indian rupee offers a compelling alternative for investors seeking quicker returns. India’s fast-growing economy, driven by a booming technology sector and substantial foreign investment, increases demand for the rupee. This makes it a more liquid and attractive currency for traders aiming for short-term profits. Additionally, India’s government initiatives to promote digital payments and modern infrastructure bolster economic stability, reducing some risks associated with currency investments.
💻 Digital Payments and Infrastructure as Currency Stabilizers: India’s focus on digital payment systems and infrastructure development plays a vital role in strengthening the rupee’s value. Digital transactions increase transparency and reduce informal economic activity, which can destabilize currencies. Infrastructure upgrades enhance economic productivity and investor confidence. These structural improvements provide a foundation for sustained currency appreciation, making the rupee more resilient against external shocks.
🏦 Physical Currency Acquisition as an Investment Strategy: The recommendation to buy physical Indian rupees and hold them until the exchange rate improves is a practical strategy. Unlike forex trading, which can be complex and risky, purchasing physical currency offers a tangible asset that investors can control. Buying from reputable online stores ensures authenticity and convenience. This method allows investors to capitalize on currency appreciation without needing extensive knowledge of financial markets.
🌐 Global Economic Integration and Currency Valuation: The video underscores the importance of integrating into the global economy for currency valuation. For Iraq, achieving Article 8 status and modernizing financial systems are pathways to this integration. For India, existing global ties and rapid economic growth have already enhanced the rupee’s standing. Countries that embrace open currency policies and transparent financial practices tend to attract more foreign investment, leading to stronger and more stable currencies. This principle applies broadly and highlights the importance of political and economic reforms in currency markets.
Overall, the video provides a balanced view of the Iraqi dinar’s long-term potential and the Indian rupee’s short-term opportunities, offering investors informed options based on economic fundamentals and regulatory frameworks.
THE GOVERNMENT IS ACCELERATING DIGITAL TRANSFORMATION. HISTORIC GROWTH IN ELECTRONIC PAYMENTS AND FINANCIAL INCLUSION IN IRAQ
THE GOVERNMENT IS ACCELERATING DIGITAL TRANSFORMATION. HISTORIC GROWTH IN ELECTRONIC PAYMENTS AND FINANCIAL INCLUSION IN IRAQ.
A government source revealed, on Monday (July 7, 2025), the steps taken by the Iraqi government in the field of developing and promoting electronic payments, noting that since the Iraqi government assumed its duties more than two and a half years ago, the importance of a strong and effective banking system has become clear to it, as developing electronic payments and increasing financial inclusion in the country are considered among its most prominent features.
The source added, speaking to Baghdad Today, that “the government and the prime minister considered this goal a top priority, as it is a key objective in the strategies of countries around the world, given its close connection to economic stability and growth.”
He continued, “The Iraqi government has taken a series of decisions and measures through the Council of Ministers and the Ministerial Council for the Economy, in addition to the committees emanating from them, which include representatives from the government, the Central Bank, and the private sector, to monitor this aspect.” He noted that “these committees include: the Electronic Payment Performance Monitoring Committee, the Electronic Payment and Financial Inclusion Stimulation Committee, the Digital Transformation Committee, and the Digital Transformation and Electronic Payment Process Evaluation Committee in Iraqi Ministries and Government Institutions.”
The source explained that “Prime Minister Mohammed Shia al-Sudani had previously issued a set of decisions and directives based on reports from these committees, which led to significant progress on several indicators in this area during 2025. The digital transformation rate of Iraqi ministries and institutions rose to approximately 32%, up from less than 18% in 2022, representing a growth rate of 78%.”
He added, “The number of bank accounts reached approximately 20 million, compared to 8 million accounts in 2022, a growth exceeding 150%. The number of bank cards also increased to 21-22 million cards of all types, including credit, debit, and prepaid, up from 16 million cards in 2022, representing a growth rate of 38%.”
He pointed out that “the number of point-of-sale (POS) devices reached approximately 62,000, up from less than 10,000 in 2022, a growth rate of 520%. The number of ATMs also reached approximately 7,531, up from approximately 2,223 in 2022, a growth rate of 239%.”
He pointed out that “total electronic payments reached approximately 1.37 trillion dinars in May 2025, compared to less than 90 billion at the end of 2022, with a growth rate of up to 1,400%. Data indicates that the financial inclusion rate in Iraq has reached approximately 40%, after being less than 10% in 2019.”
The source confirmed that “the Prime Minister recently issued a number of future decisions related to a number of important projects in the field of electronic payments, stressing the need to complete them as soon as possible.”
He explained that “these projects include: activating the local card, expected to be completed by the end of 2025, activating the rapid payment project, activating the unified electronic collection application, localizing private sector salaries in line with the government sector, and establishing a unified center for complaints related to electronic payment transactions, headquartered at the National Data Center.”
The source expected that “these projects will be completed in less than a year, stressing that their implementation will contribute to moving Iraq to a new level among the advanced countries in this field.”
STATUS OF THE RV, PART. 1 BY MNT GOAT
STATUS OF THE RV
I need everyone to go back to my last Newsletter and listen to the audio commentary when you click on it in the Archives. We can clearly see that Iraq is ready to reinstate their currency and go global with it. It could not be any clearer now. But first there is work to be done with Iran. So, today once again I am going to reinforce to you factors of what is holding this event from occurring.
Let’s dive right into this article about Trump’s policy towards Iraq. You might want to review the article titled “US NETWORK REVEALS TRUMP’S STRATEGY IN IRAQ – URGENT”. You can find all articles in the Articles Section of the Newsletter.
Let’s go deep as I promised you this U.S. foreign policy towards Iraq would eventually come out in the news. It has now come out now in multiple articles as to what the U.S. and the Trump administration is up to.
However, these articles do not say anything really spectacular that, as followers of my blog, you should not already know. Right? What have I been telling you all along? I have been telling you exactly what my CBI contact has been relaying to me from my conference calls to Iraq and she was spot on! 😊
She said many times that, right now “it’s all about Iran”. Okay so let me say it again –” It is all about Iran.” Did you hear me?
The CBI has jumped through hoops to implement the much-needed banking reforms and even made the switch over to digital electronic payments in record time, something they have been trying to do since Dr Shabibi’s days more than a decade ago.
They needed to ditch the dollar and that too we have been waiting so impatiently to see. It’s done! We are now also going to shortly see the Oil and Gas Law in parliament. This too is just about all done.
Next the budget tables for 2025 will be passed on to parliament. We will see all of t his happen suddenly and seemingly all in a short time period.
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