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Showing content with the highest reputation since 12/17/2021 in all areas

  1. I’m sure everyone here already understands how big this is… what an incredible milestone!
    51 points
  2. Completion of the payment of compensation to the State of Kuwait December 21, 2021 Completion of the payment of compensation to the State of Kuwait The payment of the last remaining installment of the State of Kuwait’s compensation amounting to (44) million US dollars has been completed, thus Iraq has completed the full payment of the compensation amounts approved by the United Nations Compensation Committee of the UN Security Council pursuant to Resolution No. (687) for the year 1991, with a total of (52). 4) One billion US dollars for the State of Kuwait. It is hoped that ending the payment of compensation will contribute to removing Iraq from Chapter VII, as well as its impact on re-integrating the Iraqi banking system with the global banking system and benefiting from the financial abundance that will be achieved. Central Bank of Iraq Media Office December 21, 2021
    33 points
  3. Good stuff. Whether the CBI would put a cap on the growth or not... I am inclined to agree that they will. But there's a strong argument for that cap being $1
    25 points
  4. Remember, no one really knows what will happen, or when. They're simply stating their opinions based on what they perceive to be happening in Iraq... RON *** Breitling *** The World Trade organization is inviting Iraq, the Central Bank is modernizing in a big way, and then you have them going to other countries trying to set up branches so people can trade the Iraqi currency internationally... Breitling is inferring something is about to happen ... What does this all look like to you..? RON
    24 points
  5. Iraq has done a great job getting rid of speculators to this point. Anyone who is still in this has some real staying power and congratulations to us all. It might be foolishness', or intelligence or a combination of both to still be in this, to be seen. This process has taken a toll on emotions and acceptance. That being said it has also taught patients, a lot of patients and acceptance, thank you. When I read peoples options about how this will unfold I always consider speculators and how even a semi slow rollout is unrealistic, in my opinion. It only makes sense, to me, for Iraq to raise the price dramatically at the onset, yet lower than intended goal to get rid of speculators, like $0.86. Just a thought and thank you for reading it. May the universe bless us all with a $3.22 RV/RI, it defiantly feels like we are getting close to finding out, fool or genius.
    22 points
  6. No WTO is not required for rv. The rv is required for the WTO. See below for more. The WTO states The major issue is that 1) Iraq does NOT have "full autonomy in the conduct of its trade policies" at this time as they are still under sanctions (i.e. program rate). Trade would include the method of payment for the goods bought. Since Iraq does not have full autonomy over the rate of its currency, per Article XII, Iraq does not have full autonomy in the conduct of its trade policies. On the other hand, Iraq and its government are the ones who are making, legislating, its own trade policies, one could possibly argue that constitutes conduct and Iraq has full autonomy over that and should be accepted into the WTO. However, trade between countries includes currencies and since Iraq does not have full autonomy over its currency, whether international or not, it does not meet the requirements of Article XII of the WTO Agreement.
    22 points
  7. I guess you just became a guru also. As your statement without providing supporting evidence suggests. Nevertheless, your comments are wrong. Over the years there has been tons of verifiable evidence showing the effects of being released from ch 7. And the one of most importance here is the RV. Which Iraq has repeatedly stated themselves would be to bring back value to the Dinar. And the only number ever mentioned by the CBI was $1:17. Nonetheless, being removed from Chapter 7 completely will place the Dinar as tradable on the Forex. Considering the wealth of oil in Iraq alone, will make the Dinar an extremely desirable currency in the Forex. So YES, "THIS IS HUGE NEWS ". And it will inevitably lead to a massive increase in the Value of the Dinar.
    21 points
  8. Remember, no one really knows what will happen, or when. They're simply stating their opinions based on what they perceive to be happening in Iraq... RON *** MilitiaMan Article: "The International Coalition : We no longer have combat forces in Iraq" Add this to the equation… No combat forces, done early. Kuwait paid in full, early. Digital platforms noted by the CBI, early. Thus, the next move is expected and that is move to a market economy. That will require an international exchange rate...imo...
    21 points
  9. This is not a rumor Luigi ... It's a fact and posted by the CBI Media office. RON https://cbi.iq/news/view/1903
    21 points
  10. May you have a very happy New Year & a very prosperous one at that. Same for all DV investors.
    20 points
  11. Remember, no one really knows what will happen, or when. They're simply stating their opinions based on what they perceive to be happening in Iraq... RON *** Kaperoni Iraq's federal court ratified the election results today. There was no basis of any fraud. So now hopefully they can move forward and form a new government soon. Wow..! A positive post from Kaperoni..!
    20 points
  12. Love this After it has paid all its compensation to Kuwait, Iraq must submit a request to the Security Council, in order to transfer it from Chapter VII of the Charter of the United Nations to the provisions of Chapter VI of the Charter, a subject that will liberate the Iraqi banking system and integrate it with the global banking system, and will also liberate the accounts Iraqi finances are with the US Federal Bank, because any financial returns in hard currency do not go directly to Iraq, but through the United States, so that compensation for Kuwait can be completed.”
    20 points
  13. More positive news….. More progress.! it will "pave the way for deepening financial cooperation and investment." Just imagine the amount of trade with the European Union 🇪🇺 when Iraq 🇮🇶 move to an open market economy. Go Iraq Go International Go stronger dinar
    19 points
  14. Remember, no one really knows what will happen, or when. They're simply stating their opinions based on what they perceive to be happening in Iraq... RON *** Frank26 Article: "It is time to adjust the exchange rate to enhance the value of the national currency (the Iraqi dinar) against the dollar." Wow! Can we have a standing ovation? ...this is the CBI saying this...this is the mother of all articles. Quote: '...let us make readjusting the exchange rate the first task of the next government and parliament to relieve the burden of the citizen.' The CBI wants to show the Iraqi citizens the NSCNs/new exchange rate as soon as possible and if you GOI are not ready by the 15th then we the CBI will show the citizens to reduce any confusion... *** MilitiaMan Article: "The outlets announce an agreement with the customs to activate the customs and tax receipt program" This to me suggests there is a game plan to going international. They tell us the most important thing agreed upon is to activate the tax receipt program at the Border Ports Authority. ...The CBI has told us they have a new electronic system that is one of it’s kind and has interlinked with government entities already. We also know that AYSCUDA has a contract for this very subject and that the WTO is working to support Iraq in her ascension along the way...They are gearing to activate systems. That activation is imo going to require an international REER (Real Effective Exchange Rate) in place...
    19 points
  15. This form of thinking of which you mentioned has been aptly named Demonwoke-itis after the demoncrats woke-itis syndrome. Or as Mel Brooks said "It's good to be the king" as so many demoncrats think they are kingmakers but in reality more like poverty makers.
    19 points
  16. "Many family and friends scoffed at us and told us we were crazy." I have this problem, too! 😂 😂 Happy New Year everybody. 😊
    19 points
  17. I said that tongue in cheek. To make a point. As for Frank and the others, I literally stopped reading ANYTHING from them 10 years ago. They are so full of Shiit that it's not even funny. HOWEVER, Adam Montana is the real deal. And I don't mind saying that I've made thousands of dollars from what he's provided here. AND WE'VE ONLY JUST BEGUN.
    19 points
  18. Remember, no one really knows what will happen, or when. They're simply stating their opinions based on what they perceive to be happening in Iraq... RON *** Breitling Were sitting on a gold mine. I know people get sick and tired of waiting. It's tough. This is the way the world is. But the reality is we're sitting on a gold mine. We're good. We watch Iraq do this and set the stuff up, you just have to have that type of patience...this investment is not for everybody...It's not a hype investment ...people get caught up in the timing and it's like well it hasn't happened...in their mind all these bad things keep happening and none of it was ever true in the first place. I've never seen anything bad yet happen as far as the plan and what Iraq wants to do so they can add value to their currency. They haven't made one bad move yet. *** Frank26 Article: "Al-Rafidain Bank stops withdrawals and deposits, starting from Thursday" We were just told from {firefly} that they told them this yesterday... Quote: "the suspension comes in order to pay the annual amounts." You're closing your banks for about 4 or 5 days to do an annual account? The year's not over with. Try another story! ...I don't want to grab at straws and give us hopium and say oh look this is perfect. This is it. No. We never give you a date but what we do give you is common sense that this is an amazing window of opportunity... *** Kaperoni now that Iraq is paid off Kuwait they can float the dinar. LOL. Doesn't work that way only, with the success of Iraq's economy can the dinar go up in value. Iraq has a lot of work yet to do. MERRY CHRISTMAS DV ... Be Blessed..! RON
    19 points
  19. The Central Bank announces the completion of Kuwait's compensation Posted 1 minute ago Add a comment news source / Iraqi media news agency "conscious""Baghdad / h. g https://iraqakhbar.com/3416170 Today, Tuesday, the Central Bank of Iraq announced the completion of the payment of compensation for the State of Kuwait. And the Central Bank said in a statement received by (Iraqi Media News Agency /) that “the payment of the last remaining installment of the State of Kuwait’s compensation amounting to (44) million US dollars has been completed, and thus Iraq has completed the payment of the full compensation amounts approved by the United Nations Compensation Committee of the Security Council.” International Resolution No. (687) for the year 1991, with a total of (52.4) billion US dollars for the State of Kuwait
    19 points
  20. Iraq removed from EU list of high-risk money laundering countries The European Union's ambassador to Iraq said the move would 'pave the way for deepening financial cooperation and investment' Six years ago Iraq was added to the EU's list of high-risk countries for money laundering (AFP/File photo) By MEE staff Published date: 11 January 2022 18:59 UTC | Last update: 2 hours 23 mins ago Iraq has been dropped from Europe's list of countries at high risk for money laundering and terror financing, a move that could help boost the country's foreign investment. The European Union's ambassador to Iraq, Ville Varjola, held talks with Iraqi Prime Minister Mustafa al-Kadhimi on Sunday and informed him of the "good news", saying the move would "pave the way for deepening financial cooperation and investment". The European diplomat did not specify any reasons for the changes, but the bloc's criteria for being a high-risk jurisdiction include failing to criminalise money laundering, the failing of banks to report suspicious transactions and failing to implement targeted sanctions. Kadhimi welcomed the decision, saying on Twitter that it was "an important step in dedicating effective Iraqi diplomacy to serving the interests of the country". "Governmental and diplomatic efforts are continuing at various levels to serve our national interest and achieve Iraq's deserved status," he said. Iraq was added to the list six years ago and since then officials in Baghdad have urged the EU to reverse the decision. In 2019, Baghdad's anti-money laundering and counterterrorism financing laws were described by the EU as having "strategic deficiencies". Iraq's foreign ministry said the move would pave the way for "economic partnerships that push the wheel of reconstruction and investment". "Iraq's exit from the list of high-risk countries represents an important success for Iraqi diplomacy, especially for state institutions that are concerned with Iraq's compliance with the standards of international law," Ahmed al- Sahaf, a foreign ministry spokesman, told The National. "Terrorism and the financing of terrorism is an international challenge, and for Iraq to succeed in complying with the criteria of this regulation reflects the confidence of the international community in the Iraqi government." Foreign investment Officials in the northern Kurdish region also said the move would help attract more economic cooperation between Iraq and the rest of the world. "In recent years, the KRG [Kurdistan Regional Government] and the federal government in Baghdad have worked together with our partners in the international community to target the financing of terrorism and criminal networks, including illegal currency auctions and informal money service businesses," Masrour Barzani, prime minister of Iraq's Kurdish regional government, said in a statement. "The success we have achieved together with the contribution of Europe should encourage cooperation in order to provide a bright economic future for our generations." In recent months, the country has attracted a number of foreign investments, including in September 2021 when it signed four contracts worth $27bn with French multinational TotalEnergies for oil, natural gas, solar energy, and water projects in the southern Basra governorate. Iraq has also opened an account with the China-backed Asian Infrastructure Investment Bank and has deposited around $100m in the account for possible future payments for infrastructure projects. Iraq has begun the process to form a new government, following an early election held in October 2021 that saw influential Shia cleric Muqtada al-Sadr win a majority of seats in the country's parliament. On Monday, the new parliament elected Sunni lawmaker Mohammed al-Halbousi as speaker in the legislative body's first session, paving the way for the election of the country's new president and government. https://www.middleeasteye.net/news/iraq-removed-eu-list-high-risk-money-laundering-countries
    18 points
  21. Remember, no one really knows what will happen, or when. They're simply stating their opinions based on what they perceive to be happening in Iraq... RON *** Nader From The Mid East The rate is going to start falling soon [NOTE: Falling means an increase in value.]...it's going to be unstoppable so get ready. Exactly when? I don't know but it's gonna be in the end of January beginning of February. I hope it happens. I hope no problems. *** Frank26 [ Iraq boots-on-the-ground TV report ] FIREFLY: Saleh is on the news today and he's saying that the next government will make changes to the exchange rate and that the 2022 budget is waiting for the next government to be seated and that will be the first that they're going to vote on as soon as they sit down...said exchange rate was up to the CBI to change and today Saleh tells us government will change the exchange rate in the next budget. ...WOW..! ....this is a big statement...RON
    18 points
  22. Much obliged Yota Iraq is moving to the international scene at a record pace, everyone is looking for a peace of the action
    18 points
  23. Maliki’s time to face Justice is getting closer. He knows Iran is losing political power over Iraq. He’s doing all kind of political maneuvers to create the largest block in parliament but Al Sadr is blocking every attempt. Go Iraq Go new GOI Go Justice Go freedom
    17 points
  24. I agree my brother. 👍🏼 Openness the the world 🌎 Go Iraq Go international Go Trade imports / exports Go open market economy Go $1:1
    17 points
  25. Looks like they are getting ready to make the jump to the worlds stage
    17 points
  26. Remember, no one really knows what will happen, or when. They're simply stating their opinions based on what they perceive to be happening in Iraq... RON *** Breitling The question is how much do you get to keep...because we'll be taxed. People who don't pay their taxes and wait, they're going to have their asses handed to them. I kid you not it's going to be a bloodbath. [Check with your tax professional at the appropriate time.] *** Walkingstick A fixed exchange rate controls the nominal exchange rate that is set by the CBI. Whereas a float is determined by the foreign exchange markets by supply and demand of the Real Effective Exchange Rate that will fluctuate during its float...A float is basically a more accurate reflection of a currency's value and that's why the CBI will soon de-peg and float for its Real Effective Exchange Rate. *** Frank26 You [Iraqi citizens] have to realize your currency is about to float. That's what they're trying to teach you. It's part of your education process right now. When it does float and they reinstate the value this education is going to get louder for you...float means you are officially free from Kuwait...the fact that your currency is about to float is incredible...this is basically the announcement of your purchasing power...
    17 points
  27. Remember, no one really knows what will happen, or when. They're simply stating their opinions based on what they perceive to be happening in Iraq... RON *** Breitling BTW the Iraqi dinar is tradable internationally already...people don't use it. It's because it's 'worthless'. It's not at an 'un-international' status. It is international, always has been. It's that you can't use it for anything. Well, they're going to change that and that will help the supply times velocity. *** Frank26 [ Iraq boots-on-the-ground TV Report ] FIREFLY: There has been a request by Kazimi to the United Nations to officially lift Iraq from Chapter 7...the United Nations security council has the meeting scheduled for February of 2022. Unless the U.N. moves this meeting to vote earlier then maybe we have to wait until February. FRANK:...I don't believe we have to wait for that meeting. Looks like that's it for 2021 ... Happy New Year - 2022 ... RON
    17 points
  28. Remember, no one really knows what will happen, or when. They're simply stating their opinions based on what they perceive to be happening in Iraq... RON *** Frank26 [Iraq boots-on-the-ground report] FIREFLY: We are here at the bank with our friend. He says...the CBI this week had meeting all week with chartered banks [about what..?] the process of deleting the zeros and a rate change. He knows this for a fact but he's not sure when. Looks to be in early 2022. The CBI is working behind the scenes and getting things lined up for possible rate change. FRANK: Everything is happening in the early part of 2022... I'm hoping Frank & Firefly are right...I'm ready for this to be over..! RON
    17 points
  29. What a synergy of stuff going on right now . New government ,Kuwait paid off ,. This payoff was synchronized to occur at the opportune time , the new government coming into play , US troops pulling out , the disappearance of the lower denoms , the crazy low exchange rate , all these "intermediary" entities coming in to facilitate to underwrite international debt , It's time ,you crazy diamonds , and I don';t want to hear no bitchin' from people who think it's taken to long.
    17 points
  30. Al-Kazemi’s Advisor: The Next Government May Adjust The Dollar Exchange Rate LAST UPDATE 12/30/2021 | 9:15 AM Information/Baghdad. The economic advisor to the Prime Minister, Mazhar Muhammad Salih, confirmed that the next government will amend the 2022 budget, despite it being properly prepared by the Ministry of Finance, to be one of the first tasks of the new government, while indicating that the government may make changes to the exchange rate. Saleh said, in a statement reported by the official "Al-Sabah" newspaper, which was seen by "The Information", that "the next year's budget was prepared in the Ministry of Finance, but there is a constitutional path and it was supposed to be submitted to the Council of Ministers last October to be referred immediately to the House of Representatives, but because of a dissolution Parliament did not have an opportunity to discuss it, and the budget is waiting for the formation of the next government and parliament to be the first law to be discussed.” He added that "the next government will discuss the budget, amend and add, and may make changes to the exchange rate according to the oil markets, and may add new projects to the investment budget," noting that "all these things will not be delayed because the budget is prepared correctly, but there are some adjustments here and there that may be made. by the next government.” And he continued, “Even if the approval of the budget is delayed, the disbursement will be according to 12/1 of the actual expenses, and those covered by Resolution 315 approved their entitlements in the 2021 budget and it became a reality and prepared for disbursement,” expecting “its disbursement in the 2022 budget. Finance provided that it is legally approved, meaning that if it is approved in the 2021 budget, it will be added in the 2022 budget. If there is no budget, it is likely to be covered by the Financial Management Law. Saleh pointed out that "Kuwait's money was deducted from oil money and Iraq's revenues, and these funds will be added to the budget, which makes financial space." finished/25
    17 points
  31. Does anyone know if this has been verified by the U.N.? Cause if this is true then it's probably the biggest thing to happen in Dinar World in the last 10 years
    17 points
  32. Definitely throws the window of opportunity wide open! We may finally be getting off this ride!! When they RV/RI just my opinion, it’s got to be 1 to 1!!! Praying we see this happening in January 2022! 🤠
    17 points
  33. GM DV...Hope everyone has a Bless Christmas
    17 points
  34. Now all they have to do is spend the next 20 years writing something on those white papers.
    16 points
  35. Not sure why I'm posting except as a way to grieve the end of an era. She was never caught up in a scandal, no DUI's, no drugs interventions, no arrogant elitist outbursts, no bs at all. Just a kind person strong enough to resist the dark side of fame, and brought relief to millions through laughter. I had a serious schoolboy crush on her in jr high, until we got a color TV in the late 60's and that Jeannie popped out of the bottle... Anyhow, it's ironic today's the last day of a horrible year, capped off with the last day of an American icon.
    16 points
  36. Remember, no one really knows what will happen, or when. They're simply stating their opinions based on what they perceive to be happening in Iraq... RON *** Frank26 Four weeks ago I expressed to you they just told the citizens they were no longer able to get three-zero notes from the ATM machines/banks. Remember that? They are in their meetings, the CBI & IMF and they are talking about the fact that the 5, 10 and 25 [Large notes] are gone and how they're going to replace them...this is not open to interpretation any longer. This is a fact of the CBI... *** Kaperoni There are no cash-in groups... *** Frank26 [Iraq boots-on-the-ground TV report] FIREFLY: Kazemi on news saying as the Iraq economy grows so will the rate of the dinar. FRANK26: He's talking about the dinar growing internationally...when you unpeg from the American dollar and go on par with the American dollar your currency will float internationally and the value will climb at that point internationally...to $3 maybe $4 rate...Iraq will stay 1 to 1 inside of Iraq for your purchasing power.
    16 points
  37. The BS is in the rumors section..I'm sure you seen it and read it...It start off with Remember, no one really knows what will happen, or when, then it goes on to explain, TV Updates, 2% compliance..The Gossip with one Lie after another...anyhow GM DV and I hope everyone has a Great New Year!!
    16 points
  38. If you want to know the TRUE reason Iraq is not yet in Article 8, its because Iraq lied to the IMF and misrepresented its reporting (aka lied) from the 2016 SBA. This then caused Iraq and the IMF to start remedial correction negotiations. Iraq can't have a history of breaching Article 8. The IMF won't give the green light until Iraq can show accurate reporting (yes, I know I said the IMF gives the green light for the RV as I am a firm believer in the camp that the IMF will give Iraq the green light. Once they have the green light, Iraq will RV when they want.) Until Iraq gets its act together, there will be no RV. They can still be corrupt and have their act together. They just can't get caught, like they did for the 2016 SBA reporting. It is also worth noting that the IMF Executive Board was questioning the 2% rule back in 2019 before the pandemic. They were going to review it but at this time I think (meaning I haven't found otherwise) the 2% rule is not in effect.
    16 points
  39. Economist Recommends Re-Valuing Iraqi Dinar 15th November 2021 in Iraq Banking & Finance News, Politics By John Lee. An Iraqi economist has said that re-valuing the Iraqi Dinar could be considered if certain conditions were met. Dhurgham Mohamed Ali is quoted by Shafaq News as saying: "The exchange rate of the dollar should be gradually reduced to 1,300 dinars [from the current 1,460 dinars] while keeping an eye on the cash transactions to preclude creating a black market, dollar smuggling, and tighten the control over imports. "The outcomes of the devaluation were detrimental. The inflation rates grew, poverty rates soared, while development rates remained static and foreign currency smuggling exacerbated." The change proposed would increase the value of the dinar by just over 12 percent. Link: https://www.iraq-businessnews.com/2021/11/15/economist-recommends-re-valuing-iraqi-dinar/ Another Article Follows Below (Source: Shafaq News) Demands to revaluate the dinar, the government responds Report: Iraqi dinar - Shafaq News - 2021-11-12 11:16 Shafaq News / Devaluating the Iraqi dinar in the 2021 budget has stirred the discontent of the public, and economic and financial experts alike. In spite of the warnings from its negative economic and social reverberations, the Iraqi Ministry of Finance ascribes it a breakthrough amid a stifling economic crisis that has struck the country. Last December, the Central Bank of Iraq (CBI) opted to raise the exchange rate of the U.S. dollar from 1,182 dinars to 1,460 dinars to alleviate the ramifications of the plummeting oil revenues, bringing down the value of the Iraqi national currency and the purchasing power immediately. As oil prices gradually climbed beyond the 80 dollars a barrel threshold, citizens and economists voiced demands to revaluate the dinar in next year's budget or mitigate the impact of its devaluation on the community. "The rise is an outcome of a white paper that organizes the process over three to five years. They deem it a part of the economic reform process for the financial situation and banks," economist Bassem Jamil Antoine told Shafaq News agency, "the state cannot change its currency. Still, real reform that serves the poor classes is essential." “The currency rate is not as vital as compensation for the poor classes, which constitute the bulk of the population; social welfare, ration card availability, and job development are all critical," he said, "unemployment and poverty rates skyrocketed due to lack of job opportunities in the public sector. On the other hand, the private sector is frozen and unable to function properly." "The recovery of oil prices must compensate for the people, address the deficit, and provide job opportunities for unemployed youth. This will reinvigorate the market, put an end to corruption, and activate the private sector," he said. Gradual Revaluation Economist Dhurgham Mohamed Ali said that revaluating the dinar shall be contingent upon several factors, "The exchange rate of the dollar should be gradually reduced to 1,300 dinars while keeping an eye on the cash transactions to preclude creating a black market, dollar smuggling, and tighten the control over imports." "The outcomes of the devaluation were detrimental. The inflation rates grew, poverty rates soared, while development rates remained static and foreign currency smuggling exacerbated," Ali added. Neglecting the private sector "The government has not contributed to reducing the poverty gap and unemployment after raising the dollar rates that inflicted all the strata of society," trader Amir Mohammed al-Hasani told Shafaq News agency, "Its concern was how to pay the salaries of officials and ministers without considering the negative aspects of the devaluation." "The government should have combated the widespread corruption in the Iraqi state, revived the private sector by eliminating the obstacles hindering its growth and activating laws that would provide support and protection to this important sector," al-Hasani said. "The rise in the dollar has hurt us as foodstuff prices have risen to more than 30% despite the steady salaries we earn," Hussein al-Khafaji, an employee of the Ministry of Education, told Shafaq News agency. "My salary ends by the middle of the month, forcing me to look for another job to meet the needs of the family," he said, calling on the government to revaluate the dinar. For its part, a government source told Shafaq News agency that the dollar rates will remain unchanged in the fiscal year 2022. "There is no change or incident that causes the exchange rate to change," the source said, adding, "the Ministry of Finance has confirmed this." "Over the previous nine months, the ministry has constantly followed the indicators of devaluation against the dollar," the Ministry of Finance stated on October 5, 2021. The exchange rate alteration has contributed to a rise in the Central Bank's foreign reserves to 60 billion dollars in April 2021, up from 54 billion dollars in December 2020. According to the Finance Ministry, the currency rate shift also helped "reduce the demand for foreign currency, lower the dependence on imports, and enhance local production." "In the context of the crisis, there has been a clear recovery in corporate activity in the last nine months of this year," the Finance Ministry stated. According to the ministry, it is working to "reinvest the revenues of the funds achieved to build a target production base outside the oil sector and rely on other sectors, which will contribute to the decline in demand for the dollar as a result of compensating some of the goods produced." Since the current government's formation, the ministry has adopted plans and mechanisms to reform Iraq's fiscal policy, culminated in adopting the "White Paper", which outlined future economic and financial policy steps to promote domestic production and reduce imports for the country. Link: https://shafaq.com/en/Report/Demands-to-revaluate-the-dinar-the-government-responds
    16 points
  40. Remember, no one really knows what will happen, or when. They're simply stating their opinions based on what they perceive to be happening in Iraq... RON ** BobTheTaxMan ** Here's the key thing about the CRUT [Charitable Remainder Unitrust] it can provide you a lifetime of income and it defers the income. Remember when you exchange your IQD under the umbrella of the CRUT it is a non-taxable event. It's a tax-free environment. So picture this...you've got the paperwork, you've got the EIN [Federal number], you go to the bank, they open up the bank account in the name of the CRUT, you give them your IQD and they exchange it but instead of it going into your hands it went directly into the CRUT so it's a tax-free environment. You were not exposed through a taxable event..[NOTE: Consult your tax professionals at the appropriate time to determine the best tax strategy and opportunities for your unique circumstances.] ** Mnt Goat ** ...can we still expect the reinstatement of the IQD on Forex soon? ...Just remember that Iraq can not do what they are telling us they want to do in the White Paper without a currency with a true value... the White Paper and Financial Minister whole-heartedly support its purpose and implementation. We have read in many prior articles that the CBI and Financial Committee wants Iraq to go back to the “glory days” and we surely know what this means for us and our investment...the Iraq dinar was valued at $4+. Wow! Is this really possible now? Yes, and it is coming since we already can see the new rate in the Quantum Financial System (QFS) just sitting there waiting to be pushed down stream into implementation ...The White Paper clearly addresses the implementation of the IQD to go international...They actually say “FOREX”.
    16 points
  41. BAM! Gulf War: The United Nations Committee Announces Payment of Final Reparations to Kuwait January 13, 2022 peace and security The United Nations Commission on Compensation for Damage Resulting from Iraq's 1990 invasion of Kuwait announced on Thursday that more than 30 years after Saddam Hussein's invasion of Kuwait, Kuwait has received the latest war reparations from the State of Iraq. Thus, Baghdad has completed compensation payments and paid more than 629 million dollars for the losses resulting from Iraq's invasion of Kuwait in 1990, and its occupation of it for a period of seven months. In a statement, the Compensation Committee said: "Today, the United Nations Compensation Committee provided the Government of the State of Kuwait with an amount of $629,324,488 to pay the Committee's remaining claim with an unpaid compensation balance." With this amount, all claimants who were awarded compensation by the Commission will now have received the full amount of their compensation. Over the past 30 years, Iraq has paid Kuwait $50 billion in war reparations. However, in light of the financial difficulties due to the pandemic, and the drop in oil prices, Baghdad demanded to postpone the payment of the remaining two billion dollars. In total, the commission has paid $52.4 billion in damages to more than 1.5 million claimants worldwide. The UN Compensation Commission related to the Gulf War had received about 2.7 million claims and completed its review of all claims in 2005. An extraordinary session on the occasion of the end of its work As the commission approaches its conclusion, a special meeting of the Board of Directors will be held on February 9 to celebrate the full payment of all compensation awarded by the commission and the expiration of its mandate. The successful claims were paid from the UN Compensation Commission Fund, which received a percentage of the proceeds from sales of Iraqi oil and petroleum products exports. This percentage has been established pursuant to various Security Council resolutions and Governing Council decisions of the Committee and was recently set at 3 per cent by Governing Council decision 276 (2017). The Commission was established in 1991 as a subsidiary organ of the UN Security Council, in accordance with Security Council Resolutions 687 (1991) and 692 (1991) to process claims and pay compensation for losses and damages incurred by individuals, companies, governments and international organizations as a direct result of Iraq's invasion and occupation of Kuwait (from 2 August / August 1990 to March 2, 1991 https://news.un.org/ar/story/2022/01/1091632
    15 points
  42. More good news.!! Iraq continues moving forward. “The World Bank expected that Iraq will witness the highest economic growth among the Arab countries during the years 2022 and 2023, while an expert confirmed that the country is still a rentier economy.” This could be year when Iraq will move to an open market economy. Go Iraq Go international Go stronger dinar Go growth
    15 points
  43. Remember, no one really knows what will happen, or when. They're simply stating their opinions based on what they perceive to be happening in Iraq... RON ** MilitiaMan ...after having met the obligations of compensation to Kuwait, there will and should be that Iraq will be able to interlink global banking and with that comes and international rate to be applied. The banks are now closed until Sunday in Iraq, if I have that correct and there are no new holidays? lol Add in, the UAE is to link their monetary, governmental and financial work week with the rest of the world tomorrow. ...So, it is my view that there may still be opportunity for us to see this over with by and or over the weekend into early next week, imo. ** Petra It's the CBI that has responsibility for the rate. Set that whole thing aside about forming the government...the first thing they're gonna do I think the leadership is to go right after the budget...get it knocked out...the budget needs the rate...at this point in time we're just waiting for those nice little notes to show up. That's what we're waiting for...and with that obviously would come the rate... ** Frank26 What the governor of the CBI is telling you [Iraqi citizens] is that right now you have a fixed rate but it stinks. It's a program rate. It's worthless. Now, soon the Iraqi dinar will de-peg from the American dollar and go on par with it at a fixed rate of 1 to 1 internationally. It is at that point where the global communities will buy, trade and sell in using the Iraqi dinar causing it to go up in value like the other middle eastern countries around you.[Post 1 of 2]. ** Frank26 I believe you are going to hit a high $3 or even possible low $4. In other words a rate of 3 to 1 or maybe 4 to 1 internationally which would reflect inside of your country as well...IMO you are going to float the moment that they announce that you are clear of Chapter 7 and Chapter 6...because you already paid Kuwait this announcement is coming.[Post 2 of 2].
    15 points
  44. OK folks whatever you do don't have an opinion or newbie Martin777 will slam you with a ruby...lol Dumbazz. 😆😅🤣😂 pp
    15 points
  45. Remember, no one really knows what will happen, or when. They're simply stating their opinions based on what they perceive to be happening in Iraq... RON *** Frank26 *** [ Iraq boots-on-the-ground TV Report ] FIREFLY: Kazemi talk on TV news...Iraq needed three major events to happen to ensure the success of the white papers and one of them was complete - The withdrawal of all American and all foreign troops from Iraqi soil. Second...having Iraq free officially from Chapter VII...Last, we have to sit our government and that is about to be done...all we need is the official release of chapter VII then the reforms will soar... FRANK: ...Your parliament is going to be seated along with the rest of the cabinet members sometime between the 9th and the 15th. It is at that time IMO that the government of Iraq will be presented the 2022 budget... with the white papers, with a rate of value. Sounds good Frank, so let's hope and pray that it works that way. There are too many unknowns & variables at play. - like the UN removing them from Article VII, among others.... Happy New Year..!! RON *** MilitiaMan *** ...I am not guessing, I am making studied observations, imo. I and others provide sound data that supports this study’s progression...Not one of us has a crystal ball and will not ever know the actual time or date...The timing of so many things having been done to date, is extremely bullish for this to be about over and a new exchange rate is issued by the CBI... Lets see what the year end & new year has in store for us...! *** Nader From The Mid East *** Remember what I said. Things have to be done - Chapter VII, governments have to be set up and the departure of the armies of United States and collisions. That's what's happening these days...things are going to be better this month coming up. Things gonna change. Rates is gonna go up. Money's gonna be coming in and out. We start building stuff over here...Dubai is going to be nothing next to Iraq in the next 10 years. New York is going to be nothing. Believe me. We worked hard. We Iraqis have suffered and now it's time to pay back...It doesn't matter if people make fun of us...we're gonna be there.
    15 points
  46. Remember, no one really knows what will happen, or when. They're simply stating their opinions based on what they perceive to be happening in Iraq... RON *** Mnt Goat The news this period is all about the announcement of the election winners from the October elections in Iraq...The judiciary this week has told us they have rejected claims of any misdoing in the elections...So, Iraq is now on its way with a new government and I totally believe Al-Kazemi will have a second term as the prime minister...The reinstatement of the currency is within this timing also as it is optimal to do it at the beginning the new fiscal year. Currently we heard they are doing audits and budget reconciliations/ adjustments going back to 2003, something they have never done and we knew this would be a signal to us that they are serious about the reinstatement. WOW..!
    15 points
  47. Remember, no one really knows what will happen, or when. They're simply stating their opinions based on what they perceive to be happening in Iraq... RON *** Frank26 Article: "For the sake of the banking system..Kuwait: Iraq handed over the last batch of compensation before it was due" Kuwait had to be paid off..compensated with economic reform and return their dead... Quote: "re-integrate the Iraq banking system with the global banking system." Bingo! What they did is they combined the Iraqi banks with the banks around the world... I told you [Guru] Walkingstick's friend came to do this to his private bank in the United States...because of the fact that the Iraqi banks are now internationally recognized the Iraqi currency is about to float...
    15 points
  48. After paying all compensation to Kuwait... Has the Iraqi economy been liberated? 24 minutes ago 10:27 Diaa Hassoun The Kuwaiti ambassador to Baghdad, Salem Al-Zamanan, confirmed that the United Nations Compensation Committee will issue a decision to permanently close the file of financial compensation between the two countries, after Iraq paid the last payment to Kuwait a few days ago. Al-Zamanan indicated to the Iraqi News Agency (INA), on Saturday, that Iraq has fulfilled all the obligations imposed on it under Chapter VII of the United Nations Charter and relevant Security Council resolutions in 1991. What are the implications for Iraq's economic situation? On this subject, the guest of the “Where is the Truth” program on Radio “Sputnik”, the economist Dr. Nabil Al-Marsoumi, says: After it has paid all its compensation to Kuwait, Iraq must submit a request to the Security Council, in order to transfer it from Chapter VII of the Charter of the United Nations to the provisions of Chapter VI of the Charter, a subject that will liberate the Iraqi banking system and integrate it with the global banking system, and will also liberate the accounts Iraqi finances are with the US Federal Bank, because any financial returns in hard currency do not go directly to Iraq, but through the United States, so that compensation for Kuwait can be completed.” Al-Marsoumi added: "Also, Iraq should submit a request to the UN Security Council to protect its money and deposits in the global banking system from the claims of private companies and some countries for compensation or other debts, as obtaining such a decision can free two billion dollars annually, used in development and investment, Which constitutes a strong boost to the Iraqi national economy , as the money was delayed until it reached the Iraqi Ministry of Finance, so the next government will be more fortunate than the current government.” Details are in the attached audio file. Prepared and presented by: Diaa Hassoun.
    15 points
  49. Could this be a portent of a possible value change of the IQD..?
    15 points


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