DINAR REVALUATION

Friday, October 11, 2024

IRAQ COMPLETED ALL FILES TO JOIN THE WTO BY REINALDO JC

Iraq raises gold reserves to 152.6 tons according to the World Gold Council, 12 OCT

Iraq’s gold reserves increased by 4 tons over the past two months, reaching 152.6 tons, according to a report issued by the World Gold Council. This rise puts Iraq in the world’s 29th place among 100 countries in gold reserves, according to last month’s data.

At the Arab level, Iraq ranked third after Saudi Arabia and Lebanon, with data recording an increase in Iraqi gold reserves from 148.3 tons to 152.6 tons.

Last August, Mazhar Mohammed Saleh, economic adviser to the Iraqi prime minister, confirmed that gold represents about 10% of Iraq’s foreign exchange reserves. He pointed out that the reserve had reached 148 tons at the time.

It is worth mentioning that Iraq recorded last February a gold reserve of 145 tons and 661 kilograms, indicating that the continuous increase reflects financial stability and a stability in cash liquidity.

Globally, the United States is at the forefront of gold reserves with 8,133 tons and 300 kilograms, followed by Germany with a reserve of 3,351 tons and 500 kilograms, then Italy in third place with a reserve of 2814 tons.

https://alforatnews.iq/news/العراق-يرفع-احتياطي-الذهب-إلى-152-6-طن-وفقاً-لمجلس-الذهب-العالمي

RV UPDATE BY MNT GOAT, 12 OCT

Mnt Goat

I have to start off with...some really good news, actually some WOW! WOW! WOW! news...we can see the path now and very clearly.

So, finally we get word that Iraq has met all it requirements to join the World Trade Organization (WTO)...

This DOES NOT make the RV imminent...all these recent activities and events matter and the RV is a “by product” of all these events not a singular event in itself...

The view is now in sight and the writing is on the wall.

So much on the wall that I do not believe anything is going to stop it short of a major disaster.

FIREFLY: ABOUT MONETARY & BANK REFORMS : DIGITIZATION IN BANKS

Iraqi Chambers of Commerce hold "fruitful" meeting with the Kurdistan Regional Government, 12 OCT

Shafaq News/ On Thursday, the Federation of Iraqi Chambers of Commerce held an economic meeting in Erbil, the capital of the Kurdistan Region (KRI).

Umed Sabah, the head of the Region's Council of Ministers Diwan, stated at a press conference attended by a Shafaq News Agency correspondent, "This meeting is part of the Regional Government's ongoing efforts to build the best relationship between the KRI and Iraq."

"The meeting was successful and fruitful, and the trade relationship between the two sides was discussed."

Sabah continued, "We previously met with the Iraqi Economic Ministerial Council, followed by a meeting between a delegation from the Region and the federal government," confirming, "We agreed to hold another meeting in the Region's Council of Ministers."

In turn, our correspondent noted that the meeting was attended by 19 heads of theIraqi Chambers of Commerce.

TIDBITS FROM MARKZ, 11 OCT

MarkZ

[via PDK]

If you follow most of their math on the REER (Real Effective Exchange Rate)…The worst case scenario or bare minimum it could possibly be is .76 cents...

What we are expecting is in the high $3 range or low $4 range which makes the most economic sense. I am still being told to expect higher than that.

the Export Import bank of the United states has approved $297 Million for an energy efficiency project in Iraq.

This money would not be going to Iraq if it wasn’t going to be safe and stable…and if they could not pay those loans back. They are counting on an International Iraq with a real effect exchange rate.

https://dinarevaluation.blogspot.com/2024/10/we-are-expecting-rate-of-3-or-4-range.html