MNT GOAT: "After the revaluation, it was linked to a basket of global currencies." @DINARREVALUATION

 

Statistics Authority: The census will start tomorrow from 7 am to midnight for two days, 20 NOV

 Statistics Authority: The census will start tomorrow from 7 am to midnight for two days

Economy News – Baghdad

The Statistics and Geographic Information Systems Authority in the Ministry of Planning confirmed that the census process will begin tomorrow from 7 am to midnight for two days, while indicating that the two enumers will visit each house 3 times to complete and audit the data.

Qusai Abdul Fattah Raouf, Director General of the Technical Affairs Department of the Authority, Head of the Technical and Field Work Sector of the Census, said in a statement reported by the official news agency, and seen by “Economy News”, that “the counters will start tomorrow at seven in the morning visiting the homes of citizens to check the information that was previously noted electronically before and until midnight for two days,” noting that “the meter repeats the visit of families three times to check their information and ensure their presence at home according to its choice for the appropriate time.”
 
He added that “the meter will write the phrase ‘the house is locked’ on the house where the family was not present after visiting it three times during the census period and at different times,” pointing out that “the number of counters exceeded 130,000 in addition to supervisors.”

The general population census in Iraq will be launched tomorrow, Wednesday, and will include all governorates, including the Kurdistan Region, and aims to provide accurate and comprehensive data on the population, their geographical distribution, and living standards, as the government announced the imposition of a curfew on Wednesday and Thursday.

---

Views 26

Added 2024/11/19 – 10:27 PM

https://economy-news.net/content.php?id=50024

STATUS OF THE RV , PART. 1 BY MNT GOAT, 20 NOV

STATUS OF THE RV

As the choo choo train rolls down the tracks to its final destination, the reinstatement we read yet another article by Ali Daadoush, the Iraqi economists. Remember him? He wrote a couple articles in the past about how the Project to Delete the Zeros will work and the benefits and drawbacks of it. 

So, just recently he published yet another article on this same subject matter titled “DELETE ZEROS AND EVALUATE THE DINAR“.

 But this time his new article is concentrating on the revaluation part giving examples of countries that recently revalued and how it worked. The part that sparked my interest the most was about when he wrote and I quote “After the revaluation, it was linked to a basket of global currencies.”

 He was referring to the Chinese government Yuan and its revaluation of its currency in 2005, which was then linked to the US dollar prior to the revaluation. 

However, after the revaluation, it was linked to a basket of global currencies. Why is he telling us this? 

Is he saying Iraq will experience the same kind of move with the IQD?

I believe he is telling the citizens of Iraq that this also is what will occur to the IQD when it too revalues soon. 

I have to tell you again this has been the IMF’s plan all along to take the Iraqi dinar off the sole de facto peg to the US dollar and then place it in a basket of currencies with weighted percentages for each of the currencies. 

This will mitigate the risks on the peg if anyone of the currencies takes a hit. In 2011 Iraq published an article by the CBI also telling us that five (5) currencies would be used in the basket and a year later changed it to six (6). 

We will have to wait to see what the final basket looks like. These are the currencies of the major developed countries. The author does not go on to explain how these new pegs work in these baskets so I will explain a bit today for you.

You can reference the PDF on the internet. From this link for further information on this subject matter. It explains the technical issues behind the choice, composition, and operation of a basket peg under a system of floating exchange rates. It is by economist Shinji Takagi.

https://mntgoatnewsusa.com/latest-mnt-goat-newsletter/

V

MARKZ: .."if they are right- by Thursday we should get an announcement"

 

Prime Minister’s Advisor: National development plans depend on census results, 20 nov

 Prime Minister’s Advisor: National development plans depend on census results

Economy News _ Baghdad

The financial adviser to the Prime Minister, Mazhar Mohammed Saleh, confirmed on Wednesday that the census data will guide government investments to improve infrastructure and services, while pointing out that national development plans will depend on the census results.

“The census is an essential strategic tool for achieving sustainable economic growth in Iraq,” Prime Minister Mazhar Mohammed Saleh, an interview with the Iraqi News Agency, which was followed by “Economy News.”

He stressed that “the data resulting from this census will contribute to improving government administration, enhancing levels of governance, as well as supporting investment and increasing the efficiency of the use of resources to achieve comprehensive economic development.”

Saleh pointed out that “the comprehensive population census offers many fundamental axes that contribute to achieving these goals, most notably:

1. The census helps to identify areas suffering from a lack of services and infrastructure, which directs government investments to improve these sectors, as these investments include water services, roads, electricity, schools, hospitals, and banks.

2. The census provides a detailed database for drawing up effective housing policies.

3. Through detailed data on the workforce, the government can develop policies to support employment, train workers, and stimulate productive sectors to serve the national economy.

4. The comprehensive population census allows it to collect accurate information about the number of the population, their geographical distribution, age groups, and educational level, in addition to its contribution to helping the government and the private sector to better plan and determine economic priorities and optimal policies within national development plans, especially the development plan 2024-2028.

---

Views 86

Added 2024/11/20 – 12:21 PM

https://economy-news.net/content.php?id=50037

DINAR REVALUATION REPORT UPDATE : PROGRESS OF THE BANKING REFORMS IN IRAQ, 20 NOV

DINAR REVALUATION REPORT UPDATE

PROGRESS OF THE BANKING REFORMS IN IRAQ

Summary

Iraq is making significant economic strides through international cooperation, banking reforms, and census initiatives, focusing on strengthening its financial stability.

Highlights

• 🇮🇶 Iraqi government negotiating with the US to lift sanctions on private banks.
• 📊 First general population and housing census set for November 20-21.
• 💼 Iraqi-Italian forum in Rome to boost commercial cooperation on November 27.
• ⛽ Kurdistan region could resume oil exports if Parliament passes necessary amendments.
• 💰 Iraq’s gold reserves reach 1,526 tons, enhancing financial stability.
• 🌐 New financial transfer mechanisms to improve trade with Turkey.
• 🏦 Central Bank of Iraq making progress in monitoring financial operations.

Key Insights

• 🔄 Economic Negotiations: The Iraqi government has been in talks with the US Treasury for two years to lift sanctions on private banks, which could enhance financial operations and attract foreign investments.
• 📉 Census Implications: The upcoming census aims to collect economic and development data, potentially impacting budget allocations and political representation, although concerns about the cancellation of nationality questions persist.
• 🌍 International Cooperation: The Iraqi-Italian forum aims to enhance trade relations across multiple sectors, indicating Iraq’s focus on international partnerships for economic growth.
• 🛢️ Oil Export Potential: The Kurdistan region’s potential resumption of oil exports hinges on parliamentary amendments, reflecting the ongoing complexity of Iraq’s oil management.
• 🪙 Gold Reserves Expansion: Iraq’s gold reserves ranking signifies a strategic move towards asset diversification, promoting long-term economic stability amid fluctuating oil prices.
• 💳 Trade Mechanisms with Turkey: New trade transfer mechanisms between Iraq and Turkey are expected to streamline financial operations, reducing reliance on parallel markets and enhancing legitimate trade.
• 🔍 Banking Reforms: The Central Bank’s progress in monitoring financial transactions and ongoing negotiations to lift sanctions indicate a robust approach to ensuring stability and compliance with international standards.

GINGER: I’ve verified the most encouraging and LEGIT news for Tier 1 thr...