Monday, September 9, 2024
DINAR REVALUATION REPORT: Central Bank Decisions and Their Impact on Inflation and Currency Strength in Iraq, 9 SEPT
Central Bank Decisions and Their Impact on Inflation and Currency Strength in Iraq
In the context of Iraq's oil-dependent economy, the Central Bank's decisions play a crucial role in managing inflation and stabilizing the currency. As of September 9, 2024, the Iraqi economy is recovering from the oil and COVID-19 shocks of 2020, with real GDP estimated to have grown by 1.3% in 2021 after a sharp contraction of 11.3% in 2020. Government revenues surged by 73% year-over-year in 2021, spurred by higher oil prices and devaluation measures that boosted non-oil domestic revenues. However, this fiscal recovery and the currency's stability are influenced by the Central Bank's policies.
Central Bank's Role in Managing Inflation
The Central Bank of Iraq faces challenges in controlling inflation, especially given its high oil dependency. Inflation shocks can impact the exchange rate, with the currency of a country experiencing higher-than-expected inflation expected to depreciate against another's currency to maintain purchasing power parity. However, in advanced economies, exchange rates may appreciate against major trade partners' currencies on days of higher-than-expected inflation surprises, a phenomenon that contrasts with the PPP theory's predictions. The Central Bank's policy reactions to inflation shocks significantly influence market behavior.
Central Bank's Influence on Currency Strength
The Central Bank's decisions, particularly regarding foreign currency transactions, have a direct impact on the strength of the Iraqi dinar. For instance, the decision to stop using the Chinese yuan after the US Federal Reserve accused Iraq of "inflating transfers" could raise the US dollar exchange rate and increase inflation, potentially harming Iraqi families. This move has been described as a "misstep" by economists, as it could negatively impact the local market by increasing demand for the dollar and subsequently the dollar exchange rate.
Fiscal Adjustments and Economic Reforms
The International Monetary Fund (IMF) has recommended significant fiscal adjustments for Iraq, emphasizing the need to reduce oil dependence and ensure fiscal sustainability. The authorities are advised to control the public wage bill and increase non-oil tax revenues while enabling private sector development through labor market reforms, financial sector modernization, and restructuring of state-owned banks.
Conclusion
The Central Bank's decisions are critical in managing inflation and stabilizing the currency in Iraq. However, the effectiveness of these decisions is influenced by the country's high oil dependency and external economic pressures. To ensure long-term economic stability, Iraq must implement fiscal adjustments and economic reforms recommended by the IMF, focusing on reducing oil dependence and fostering private sector development.
Are Central Bank Decisions Sufficient To Stop Inflation And Strengthen The Currency In Iraq?, 9 SEPT
September 8, 2024 Last updated: September 8, 2024 Independent/- As part of the Iraqi government’s efforts to improve the economic situation and stabilize the local currency, the financial advisor to the Prime Minister, Mazhar Muhammad Salih, revealed the role of the central bank’s decisions in reducing inflation rates and enhancing the value of the national currency.
While Saleh's statements reflect the government's commitment to achieving economic stability, many questions arise about the effectiveness of these policies in confronting real economic challenges.
The role of the central bank in stabilizing the currency: Saleh stressed that the monetary policies of the central bank, including decisions to raise or lower interest rates, play an important role in stabilizing the local currency.
While these measures are viewed as economic stabilizers, the question remains as to how well they will meet the challenges of rising inflation and other economic pressures.
Economic growth and enhancing the value of the currency: Saleh pointed out that sustainable economic growth enhances the value and stability of the currency.
He stressed that the real factors affecting currency strength include high productivity, good employment, real investment, and innovation.
In this context, many wonder about the ability of the Iraqi economy to achieve this sustainable growth , in light of the challenges it faces, such as low oil prices and political crises.
Technology and Innovation: Stimulating Productivity and Economic Growth: Saleh pointed out that technology and innovation can play a decisive role in improving productivity and economic growth, which enhances the value of the currency.
However, while innovation and technology are positive factors, achieving these goals requires a suitable environment for research and development, as well as effective investment support.
In this regard, questions remain about the extent of Iraq's ability to achieve these requirements amid the current challenges.
The importance of political and administrative stability: Saleh also explained that political stability and the strength of the administrative system are important factors in enhancing confidence in the national currency.
In this context, many wonder about the stability of the political and administrative situation in Iraq, especially in light of the ongoing political crises and administrative challenges.
Achieving political stability may be essential to achieving the desired economic goals.
https://mustaqila.com/هل-قرارات-البنك-المركزي-كافية-لوقف-الت/
WOLVERINE LIVE CHAT 8/9/2024
WOLVERINE LIVE CHAT 8/9/2024
It looks like things are ready to get started.
I'm getting news that Iraq is ready to put the Dinar on Forex, hopefully today.
If that happens, the RV will start. I'm told they will start after midnight tonight. And when this happens, it will be real and it will be emotional for all of us.
First to go are German bonds and Yellow Dragon bonds this week!
They will take a few days to arrive, and then the rest of the bonuses will arrive in the next few days.
Orders have now arrived for ALL BANKS IN THE WORLD to activate QFS on all bank accounts! Get ready for that!
There will be some funds in that Nesara Gesara QFS, so check your bank for those funds! I think everything will come at once.
Precatorias has a geopolitical problem in Brazil with the ruler; In my opinion, I think it's all nonsense, just a delaying tactic. In my opinion, they are just waiting to start on the rest of us like a shotgun drop. The Precatorias are an F&P and are not a real part of the redemption process. It's considered a blessing, so they're technically in the RV.
There's not much more to say. The orders have been given.
We'll see you tomorrow, your Monday. Therefore, you may receive your notifications maybe after midnight.
If you receive your notification, put it in the channel you received your notifications on, as you will not be under NDA yet.
It has been a huge and difficult challenge for me, a very difficult roller coaster. I haven't been able to sleep as I've been trying to get a lot of information for you.
I wish you all peace and blessings. Let's hope it happens tomorrow with a rainbow outside my window!
* Once again, they have given orders for QFS to be activated IN ALL BANKS IN THE WORLD. We are waiting for IQD to activate in Forex. Notifications should arrive after midnight, so keep an eye on your emails. The Precatorias - IMO is waiting to be released along with all the others as a shotgun release.
Have a beautiful day. Take care, Wolverine.
(Transcribed by Carpathia)
NOTE FROM CARPATHIA: My dear Chosen Ones: each of you are like the stars of the universe: shining eternally above, never changing, always so beautiful throughout all these years, months and days, with your light of love expanding towards a great timeless infinity. I pray that our Dear God blesses each of you with this great gift to humanity in a short period of time. Stay strong, stay true to your dreams and always know that God is with you. With love, Carpathia.
TRANSLATION SPANISH
CHAT EN VIVO DE WOLVERINE 8/9/2024
Parece que las cosas están listas para comenzar. Estoy recibiendo noticias de que Irak está listo para poner el Dinar en Forex, con suerte hoy. Si eso sucede, el RV comenzará. Me han dicho que comenzarán después de la medianoche de hoy. Y, cuando esto suceda, será real y será emotivo para todos nosotros.
¡Los primeros en desaparecer son los bonos alemanes y los bonos del Dragón Amarillo esta semana!
Tardarán unos días en llegar, y luego el resto de los bonos llegarán en los próximos días.
¡Ya han llegado las órdenes para que TODOS LOS BANCOS DEL MUNDO activen el QFS en todas las cuentas bancarias! ¡Prepárense para eso!
Habrá algunos fondos en ese QFS de Nesara Gesara, ¡así que verifiquen su banco para esos fondos! Creo que todo llegará a la vez.
Precatorias tiene un problema geopolítico en Brasil con el gobernante; en mi opinión, creo que todo es una tontería, solo una táctica dilatoria. En mi opinión, solo están esperando comenzar con el resto de nosotros como un lanzamiento de escopeta. Las Precatorias son un F&P y no son una parte real del proceso de redención. Se considera una bendición, por lo que técnicamente están en el RV.
No hay mucho más que decir. Se han dado las órdenes.
Nos veremos mañana, tu lunes. Por lo tanto, es posible que recibas tus notificaciones tal vez después de la medianoche.
Si recibes tu notificación, ponla en el canal en el que recibiste tus notificaciones, ya que aún no estarás bajo NDA.
Ha sido un desafío enorme y difícil para mí, una montaña rusa muy difícil. No he podido dormir, ya que he estado tratando de obtener mucha información para ti.
Les deseo paz a todos y bendiciones. ¡Esperemos que mañana suceda con un arcoíris junto a mi ventana!
* Nuevamente, han dado órdenes para que se active el QFS EN TODOS LOS BANCOS DEL MUNDO. Estamos esperando que IQD se active en Forex. Las notificaciones deberían llegar después de la medianoche, así que estén atentos a sus correos electrónicos. The Precatorias - IMO está esperando ser lanzado junto con todos los demás como lanzamiento de escopeta.
Que tengan un hermoso día. Cuídense, Wolverine. (Transcrito por Carpathia)
NOTA DE CARPATHIA: Mis queridos Elegidos: cada uno de ustedes es como las estrellas del universo: brillando eternamente en lo alto, nunca cambiando, siempre tan hermosos a lo largo de todos estos años, meses y días, con su luz de amor expandiéndose hacia una gran infinitud atemporal. Rezo para que nuestro Querido Dios los bendiga a cada uno de ustedes con este gran regalo para la humanidad en un corto período de tiempo. Manténganse fuertes, manténganse fieles a sus sueños y sepan siempre que Dios está con ustedes. Con amor, Carpathia.
LATEST FROM MILITIAMAN, 9 SEPT
Militia Man
It takes time to get things done. Now we're watching all of these things come together at the end. I think Iraq has made significant adjustments to what they've been doing. I think their non-oil revenue streams is going to bring value to their country...Iraq...glory days was based off of just oil...Iraq has a lot more than just oil...Liquid natural gas, that's a massive amount of income.
They used to burn it and flare it and just waste it. Now they're going to produce it and ship it, likely to Europe...They're going to bottle that gas and sell it...They're not only going to increase their oil but they're going to increase their non-oil revenue streams. That's where all the ability to be able to support the value of their currency...
MILITIAMAN CC NOTES HIGHLIGHTS
Summary
The video discusses Iraq’s monetary policy, focusing on currency localization and upcoming meetings to address salary distribution and economic stability.
Highlights
- 💼 Employee Salaries: Discussion on the ongoing crisis regarding employee salaries in the Kurdistan region and the need for localization.
- 📅 Key Meetings: Upcoming meetings between Iraqi finance officials and regional leaders to resolve salary issues.
- 📈 Monetary Policy: Insights into how open market operations will impact currency liquidity and Iraq’s economy.
- 🔗 Global Integration: Highlighting Iraq’s efforts for international currency integration and collaboration with global financial institutions.
- 🚀 XRP Mention: Reference to XRP’s role in aiding Iraq’s financial transactions and the upcoming Discord channel for discussions.
Key Insights
- 🌍 Localization of Salaries: Localizing salaries through federal banks can streamline payments and improve transparency in employee compensation. This is crucial for economic stability.
- 🤝 High-Level Meetings: The involvement of top officials from Baghdad and the Kurdistan region indicates a serious commitment to resolving outstanding economic issues that affect citizens.
- 📊 Open Market Operations: Iraq’s open market operations can significantly influence monetary policy, affecting inflation control and economic growth by managing liquidity effectively.
- 💡 Technological Integration: The use of advanced technologies, including AI, in monetary policy management shows Iraq’s commitment to modernizing their financial systems for efficiency and transparency.
- 💱 International Currency Strategy: Iraq’s collaboration with global financial entities like JP Morgan and the integration of XRP signal a strategic shift towards international currency operations, enhancing global trade.
- 🔄 Banking System Overhaul: Proposed reforms in the banking sector aim to improve the efficiency of monetary supply and maintain price stability, which is vital for attracting foreign investment.
We rejected a proposal for Washington.” Defense Minister Reveals Details of International Coalition Withdrawal Agreement, 9 SEPT
Defense Minister Thabet al-Abbassi revealed the details of the agreement of the withdrawal of the international coalition from Iraq.
“The Iraqi-American committees agreed to withdraw with the remaining of a security partnership,” Al-Abbasi said in a press statement, noting that “an Iraqi-American agreement to end the international coalition mission will be in two stages.”
“The first phase of the American withdrawal will begin this year and continue until 2025, and the other phase of the American withdrawal will end in 2026 in full,” he explained.
Al-Abbasi pointed out that “US Secretary of Defense {Lloyd Austin] submitted a proposal that two years of withdrawal are insufficient,” adding, “We rejected the US Secretary of Defense’s proposal to add another year for the withdrawal period.”
Reuters reported last Friday that the United States and Iraq agreed on the plan for the withdrawal of international coalition forces from the country, noting that “the understanding between America and Iraq will see the departure of hundreds of soldiers by September 2025.”
Reuters pointed out that “the understanding between America and Iraq provides for the withdrawal of all forces in 2026.”
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