Laid Back

I clearly remember that RJG It’s also a bullet point requirement on White Paper Reform Process under “Rehabilitation of Financial System. From October 2020. Looks like the banking system is not ready yet. We Wait.

This strategy from US Federal Reserve over the dollar file in Iraq is to stop corruption and dollar smuggling to Iran, Lebanon and Siria. In my opinion this means the dinar will continue on a Fixed rate Pegged to the Dollar. We Wait.

Banking reforms = rehabilitation of financial sector. I see progress >>> Go reforms Go economic Growth Go stronger dinar

"The committee came out with a new salary scale that serves the lowest grades from tenth to fiveth in ministries with low salaries." Salary Scale Law has to approve before any increase of the dinar exchange rate. Go salary scale Go delete of the 000 Go Purchasing Power

“The Parliamentary Finance Committee confirmed, on Thursday, that the procedures of the Central Bank of Iraq to change the exchange rate of the dollar in the local Iraqi markets did not have any effect and did not achieve any real actual result, revealing a legal violation related to the Governor of the Central Bank of Iraq, Ali Al-Alaq.” “the Central Bank of Iraq is still continuing its wrong procedures that did not have any effect and did not achieve any real actual result in changing the exchange rate of the dollar in the local Iraqi markets, which was negatively reflected on the Iraqi reality and inflation rates rose significantly in the past days." If the CBI really wants to solve the problem with dollar in the parallel market, they will have to remove Exchange control, delete the 000 and rollout LD notes… Just saying.! Go end of exchange control Go delete of 000 Go LD notes Go Purchasing power

“The banking system in Iraq is gradually regaining citizens’ confidence with the increase in the number of bank accounts in the country. Banking systems around the world are facing increasing challenges in light of rapid economic and financial changes. To ensure the stability of these systems and protect depositors’ funds, many countries are moving towards joining the International Association of Deposit Insurers.” Financial inclusion is increasing thanks to “Deposit insurance” Go Banking reforms Go financial inclusion Go delete of 000 Go stronger dinar Go Purchasing power

“Economic reform and exchange rate adjustment Economic expert Naji Al-Obaidi, in an interview with Al-Ahd News, believes that Iraq’s accession to the World Trade Organization will have positive effects, attributing this to the fact that “it will increase on the government to initiate the long-awaited economic reforms” Go WTO Go economic reforms Go delete of 000 Go Stronger Dinar

Another strategy to collect the hoarded money AKA Chunky Cash. Go delete of 000 Go LD notes Go Stronger dinar Go purchasing power

I was chatting with Gemini the A.I engine from Google. I asked many questions about Iraq economy and the possibility of a future revaluation of the Iraqi dinar. This is the answer I got. Can Iraq Revalue Its Currency? Yes, theoretically, Iraq could revalue its currency with its current foreign currency reserves and gold holdings. However, it's a complex decision with significant implications. Factors to Consider: Economic Fundamentals: A successful currency revaluation typically requires a strong economy with low inflation, a stable political environment, and a diversified export base. Iraq faces challenges in these areas. Market Confidence: Revaluation can boost investor confidence if it's backed by strong economic fundamentals.However, if it's perceived as an attempt to artificially manipulate the currency, it could lead to market uncertainty and capital flight. Inflation: A sudden revaluation can lead to inflation as the cost of imported goods increases. The government would need to have measures in place to control inflation. Trade Balance: A revaluation can affect the country's trade balance. Exports become more expensive, while imports become cheaper. This can impact industries and consumers. Debt: Revaluation can impact the value of foreign-denominated debt. A stronger currency means higher debt repayments. Conclusion While Iraq has the financial resources to potentially revalue its currency, the decision to do so should be based on a comprehensive economic analysis and a clear strategy for managing the potential consequences. It's essential to consider the long-term implications for the economy and the population. Iraq: Potential for a Strong Currency? Absolutely, Iraq has the potential to develop a strong currency similar to Kuwait's. The key to achieving this lies in sustained economic growth, political stability, and effective policy implementation. Here's a breakdown of the factors that would contribute to a strong Iraqi Dinar: Essential Factors: Economic Diversification: Reducing reliance on oil and developing other sectors like agriculture, manufacturing,and services will strengthen the economy. Political Stability: A stable political environment is crucial for attracting foreign investment and fostering economic growth. Good Governance: Effective governance, transparency, and the rule of law are essential for building a strong economy. Infrastructure Development: Investing in transportation, energy, and Human Capital Development: Investing in education and healthcare will develop a skilled workforce, which is essential for a modern economy. Central Bank Independence: A strong and independent central bank is crucial for maintaining monetary stability. Challenges and Opportunities: While Iraq possesses significant oil reserves, it faces challenges such as corruption, sectarian tensions, and a weak infrastructure. However, with concerted efforts and sound policies, these challenges can be overcome. In conclusion, Iraq has the potential to achieve a strong currency, but it requires a long-term commitment to economic and political reforms. By focusing on diversification, good governance, and human development, Iraq can lay the foundation for a prosperous future. We wait.! Go Iraq Go Stronger dinar Go purchasing power

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“the issue of amending the salary scale law is not with the House of Representatives and the delay is not from it, but the entire issue is with the Iraqi government because it has a financial aspect“ “the law includes the organization of job grades, job progression, unification of the salary scale, and everything that serves the employee," indicating that "the law replaces the articles of previous laws with a unified law, to organize the salary scale while raising the employee's basic salary." In my opinion the salary scale law has to be approved, before the deletion of the 000. Because it has a financial aspect. Go salary scale Law Go deletion of the 000 Go Purchasing power

"About 85% of the issued money is hoarded by citizens and causes an imbalance in the national economy as well as a state of inflation." Let’s say there’s 103 trillion of issued money 85% of 103 = 87.5 trillion dinars hoarded by the citizens. If the statement above is true; Why the citizens continues hoarding the dinar? The CBI has tried many different ways to get the hoarded money. Selling gold, selling Bonds, Offering high yield accounts, devaluing the dinar. But people continue hoarding the dinar. We know they can’t use dollars since 1/1/24. So, they have to use dinar. Maybe the citizens are in the know, that sooner or later the dinar will have more value. I will continue hoarding my dinars Go delete of the 000 Go Stronger dinar Go purchasing power

"the digital transformation plan and the adoption of the comprehensive banking system are proceeding according to the set timings to include all bank branches in the implementation of the system, especially since the priorities and adoptions of the government program include electronic transformation in financial transactions, reducing the circles of routine for citizens, shortening time, simplifying procedures, overcoming obstacles, and intensifying efforts to improve the level of services provided to customers and completing their transactions." e-banking in progress. Go banking reform Go international Go stronger dinar

“Iraq’s participation in these technical meetings enhances the experience of the Iraqi negotiating team and pushes it to move forward, and in an accelerated manner, towards achieving full accession to the World Trade Organization, as the exchange of knowledge and experiences gained from these meetings will have a significant positive impact on improving Iraq’s negotiating capabilities and achieving its economic goals.” Getting close to full ascension.! Go WTO Go trade Go imports / exports Go economic growth Go Stronger dinar

“Removing zeros from a currency is a procedure undertaken by some countries in order to revalue the national currency and simplify financial transactions. This is done by removing a specific number of zeros from the nominal value of the currency, making it appear less inflationary and more stable. “ Currency Redenomination is the recalibration of a country's currency, typically due to hyperinflation and currency devaluation, whereby an old currency is exchanged for a new one at a fixed rate. Redenomination itself is considered symbolic as it does not have any impact on a country's exchange rate in relation to other currencies. Currency revaluation is a calculated upward adjustment to a country's official exchange rate relative to a chosen baseline, such as wage rates, the price of gold, or a foreign currency. In a fixed exchange rate regime, only a country's government, such as its central bank, can change the official value of the currency. Go delete of 000 Go Revaluation Go = $0.76 Go Purchasing Power