Money and business Economy News – Baghdad Economist Manar Al-Obaidi announced that the monetary supply had risen to more than 102 trillion dinars as of last June. Al-Obaidi said,
“The cash currency issued by the Central Bank of Iraq increased to reach 102.3 trillion Iraqi dinars at the end of June, with an annual growth rate of 2.4% and a monthly growth of 3%.” He added that the
value of cash outside the banking system rose to 93 trillion Iraqi dinars after it was 90 trillion Iraqi dinars in March. He pointed out that the percentage of cash outside the banking system reached 91%.
“My Bond contacts are hoping to become liquid sometime this week, and we will do sothree days later.
…One Bond Holder said he didn’t get paid today but was guaranteed he would bepaid this week.
Another Bond Holder would not comment, meaning he was likely under an NDA.”…
Sat. 6 July 2024
“More and more sources are telling me that serious money movement and us moving towards the banks somewhere aroundthe weekend of Fri. – Mon. 12th-15th.
No one knows the exact timing but they are certainly preparing lots of bank contacts for that time period, so I think it may speak well to where we may be on that.”
Money and business Economy News – Baghdad Adviser to the Prime Minister for Economic Affairs, Mazhar Muhammad Saleh, said that the Central Bank of Iraq will address the recent rise in the dollar exchange rate, noting that annual inflation in the country only exceeds 3%.
In an attempt to control dollar smuggling, the Central Bank issued in previous times a number of measures with the aim of contributing to raising the value of the dinar or reducing the large demand for the dollar.
The difference between the official exchange rate of 1,320 dinars per dollar and what is sold in the market still encourages dollar smuggling networks to increase their activity to achieve profits, in addition to the impact of this matter on the daily life of the Iraqi citizen.
Recently, the exchange rate of the US dollar against the Iraqi dinar rose to about 1,495 dinars.
"Highest international reserve base"
Mazhar Muhammad Salih said, “The fixed exchange rate system in Iraq is based on a base of international reserves that are the highest in the history of Iraq and its monetary policy, and the foreign currency covers a percentage of more than 100% of the total currency currently exported.” He explained,
"In light of the strength of the official central exchange market, the exchange rate of the dollar to the dinar in the parallel market today in our country does not constitute any relative importance in influencing the stability of the general price level, which has become stable in its components and trends as a result of the influence of the exchange rate factor."
The official financing currently dominates foreign (import) trade financing, amounting to 1,320 dinars per dollar. Saleh pointed to
“the stable trend of the exchange rate, centered around the stable external value of the dinar, which is embodied by the state of stability in the relative prices of goods and services to a large extent, as annual inflation in our country does not exceed only 3%.” The Prime Minister’s Advisor for Economic Affairs noted that,
“In light of the strength of the foreign reserves supporting the Iraqi dinar, whose value as liquid foreign assets exceeds 100 billion dollars, the official exchange market, as a general trend, will remain dominant in containing any colored noise or ambiguous information that is affected by the parallel market.” For disbursement in short periods, due to urgent international or regional political events here and there, or in adapting some instructions regulating the monetary market. Saleh stressed that
"The decline of the phenomenon of dollarization"
“after the decline of the phenomenon of dollarization in internal transactions, especially in contracts, obligations and payments inside the country since last year and its legal ban, the parallel exchange market has begun to have its general impact today only on a narrow economic scope of prohibited transactions, practiced by informal markets at a rate of 10%.” “Of the total transactions of supply and demand for the currency.”
He explained that “the stability of the dinar-to-dollar exchange rate that the country is witnessing, even in the secondary markets mentioned above, is a real and established stability.
Rather, it is derived from the strength of the influence of the price and quantitative factors of the monetary and financial policies, and
their integration in imposing overall price stability in the country, and containing the inflationary expectations that they were causing.” Parallel exchange market forces during the past years.
The Prime Minister's Advisor for Economic Affairs pointed out that
"the informal secondary market, due to the freedom of external transfer, is under the influence of the official exchange market rate, whose operations are constantly expanding in the interest of dealing at the fixed official exchange rate. - https://economy-news.net/content.php?id=44995
“It has started. It is a process hopefully completed bythe 20th.
I’m hoping to get the Green Light in a few days. …I am pleased to share this already viral video (showing a Thailand Attorney signing a notarized document marked Confidential)
. It is the signature for the Redemption Centers, where the gold standard is ready.
Therefore, we too…We are ready to go. God bless you all.” …Wolverine
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WOLVERINE
I am pleased to share this already viral video, it is the signature for the redemption centers, where the gold standard is ready, therefore we too......
I was told that thiswas the week for this to go and one of our sources said this should be our week.
Three different sourcessaid that Wed. 10 July was the start of Debt Jubilee.
This means refunding to us trading benefits that were earned on our birth, marriage, divorce and death certificates. We will also get back Federal Income Tax, mortgage interest, credit card interest and bank loan interest that we paid.
Those 62 and older will be given a lump sum payment.
The final email to go out to Redemption Centers went to the leader that has jurisdiction over all of the redemption centers (3,400) that were East of the Mississippi. That email came in last Sat. at 10:03 am, but has not gone out yet to the Redemption Centers.
Our notifications to set our redemption appointments will follow that email by an hour or two.
Arrive at your appointment no earlier than 10 min. before your appointment. They do not want people loitering in the parking lot.