[Parliamentary Finance: Passing the 2024 budget will be easy]

"The House of Representatives is waiting for the arrival of the 2024 budget tables in order to see and vote on them, so the government cannot spend anything different from the previous budget until after the parliament is informed and approved." The year 2024, and for this we are waiting for its arrival at the beginning of the new legislative term in the middle of this month, and we believe that its passage will be easy without any obstacles."

 

Waiting for budget approval by parliament in the middle of this month.

 

We wait.

 

Go budget

Go new figures 

Go Stronger Dinar

[Parliamentary expectations for a decline in the dollar exchange rate during the next few days]

“The real reasons for the Central Bank’s recent statement on December 31, 2023, in which it explained the new mechanisms for incoming cash transfers in US dollars from abroad, and its aim is to implement the basic objectives of monetary policy and enable Iraqi banks to meet the needs of their customers with cash dollars received from external transfers.”

 

“The Central Bank has determined the entities that are allowed to receive incoming remittances in dollars, which are diplomatic missions, organizations, companies, as well as non-governmental civil society organizations. It specifies 40% of Iraqi exporters' remittances in dollars, and government contracts concluded and in force whose amounts are denominated in American currency."

 

Implementing the basic objectives of monetary policy.

 

Go 2024

Go Stronger Dinar.

[Wednesday: Disbursement of pensioners’ salaries - 1/01/2024]

Strengthening financial systems means cooperating to promote principles and sound practices for financial stability through development of well functioning financial systems and market discipline. 
 

 Strengthening the currency also Strengthens the financial system.

 

We wait.!

 

Go Stronger Dinar

[Good luck to us all]

Lots of good news this year in the Dinar world.

Looks like we are close to see the real market value of the Dinar

Wishing all of you a happy and blessed 2024

 

“Financial freedom is mental, emotional, and education process."

 

Go 2024

Go stronger dinar

Go financial freedom 

 

 

 

 

[The Prime Minister's advisor identifies the most prominent features of the economic reform bill]

“Iraq is advancing the vision of partnership between the state and the social market”

 

social market is an economic system based on a free market operated in conjunction with state provision.

 

Go free market

Go Stronger dinar

 

 

[Parliament is awaiting the 2024 budget schedules… preparing for major changes in numbers]

In another article they talked about the exchange rate linked to the budget.

If that is the case.

Changing the exchange rate will change the budget.

 

Go 2024
 

Go new exchange rate 

 

Go Purchasing Power

[The Minister of Finance directs employees of the accounting and budget departments and the Central Bank to work on Friday and Saturday]

Very exciting times ahead 

 

Go 1/1/2024

Go Stronger Dinar

[The Minister of Finance directs employees of the accounting and budget departments and the Central Bank to work on Friday and Saturday]

“the Minister of Finance directed the continuation of the working hours of employees of the accounting and budget departments, the Central Bank of Iraq/the Information and Computer Technology Department, and the branches of the Rafidain and Rasheed banks on the coming Friday and Saturday.”

 

Friday 29 and Saturday 30th.

 

Things that make you go Hmmm.!

 

 

 

Go CBI

Go 1/1/24

Go Stronger Dinar

[Parliamentary Finance: The stability of the dollar exchange rate is linked to the budget disbursement]

"He added that the current exchange rate in the market is not real"

 

"He pointed out that the government did not spend the budget"

 

"Exchange rate linked to the Budget"

 

THE BEST THINGS HAPPEN UNEXPECTEDLY 

 

Go Stronger Dinar 

Go 2024

 

 

 

[Advisor to Sudani: We aspire to the end of the parallel market for the dollar in the coming days]

"there is a real desire among the Sudanese to Strengthening the value of the Iraqi dinar against the dollar,"

 

Go Stronger Dinar

Go 2024

[The Central Bank of Iraq decides to localize private sector salaries]

@BETTYBOOPthanks.!!!

[The Central Bank of Iraq decides to localize private sector salaries]

"The Central Bank of Iraq directed, on Tuesday, to localize the salaries of private sector employees".

 

This is compensation approach intended to integrate the employee into the local market structure by paying him or her according to the local market rate.

 

GOOD NEWS!!!

 

Go Stronger Dinar

Go 2024

[Government advisor: Iraq will enter the advanced digital era in early 2024]

- No more dollar transactions after 1/1/24.

- Everyone will be forced to deposit their Dinars. 

- Keep your Dinar because your dinar is Stronger.

- The use of Dinar to pay for Trade.

- Iraq will enter the advanced digital era early next year, 2024... Major announcement-

-January 2024 the dinar is going to start gaining sovereignty.

- In the coming days we have an ambition to reach the end of the parallel market for the dollar.

- Using national currency needed for respecting state sovereignty

 

I can see clearly now.!!!

 

GO STRONGER DINAR

GO 2024

 

 

[Parliamentarian: The Sudanese government is proceeding with comprehensive economic reforms]

"Everyone will be forced to deposit money in the government's balance, which is similar to compulsory savings within central banks”

 

I can give an idea in how to force people to deposit money in the government balance.

- Revalue the dinar

- Call in higher denomination notes 

- Everyone will be forced to deposit their money

- Roll out Lower Denomination notes 

 

“The main problem lies in the lack of a culture of savings and citizens withdrawing all money from outlets because this is a recent experience and the government needs to encourage citizens through other future measures.”

 

Lets see what other measures the government is going to use to encourage citizens to trust the banking system an open a bank account.!

 

Go Stronger Dinar

Go Purchasing Power 

 

[Using national currency needed for respecting state sovereignty, says Iraqi PM advisor]

You guys have many valid points.

 

Go RV

Go 2024

 

Happy Holidays to all 

 

Go Stronger Dinar $1:1

[Parliamentary Services: 9 countries are preparing to enter the world of investment in Iraq]

“The Sudanese government has actually called on 9 countries, including Arab ones, to invest in 3 vital sectors, most notably housing, while providing a safe environment and a climate that contributes to attracting capital," stressing that "the investment rate during 2023 is the highest after 2003."

 

The highest investment rate in 20 years…. At 1310 Dinars per $1 US Dollar.

 

Many countries are talking advantage of the actual rate to invest in Iraq 🇮🇶 

 

Go investment 

Go development 

Go economic growth 

Go stronger dinar

[Saleh: The dollar exchange is a story that not many people know about, and the effects of the parallel market noise are 10%.]

“The exchange rate in Iraq is a story that many do not know about. It is essentially a contractual price between Finance and the Central Bank.”

 

I hope they can change the contractual price between MOF and the CBI at the beginning of 2024

 

Go 2024

Go Stronger Dinar
 

[Using national currency needed for respecting state sovereignty, says Iraqi PM advisor]

 

“One of the requirements for any country to respect its sovereignty is that there should not be two currencies within the economy,”

 

In January 2024 the dinar is going to start gaining sovereignty.

 

“The exchange rate will be fixed, especially since it has been fixed in the federal budget law for three years 2023, 2024, 2025”

 

Don't be surprised or disappointed if we have until after 2025

 

 

[Qi Card announces the issuance of the smart card “for free” For citizens once]

“The company stated, in a statement seen by Al-Iqtisad News, that “in line with the instructions of the Central Bank in the process of switching to using the card instead of paper currency trading, QiCard is now issuing the card to all citizens for free and for one time only.”
 

Big Push into electronic banking 

Go e-RV

Go $1:1

 

[Economic reform in the Prime Minister’s vision and governmental approach]

“Financial and banking reform provides a real and effective basis for the advancement of the Iraqi economy and stimulating investment through restructuring and mechanizing government banks, reconsidering their work and stimulating Private banks and empowering them to be able to support investment and development in a real way”

 

Go CBI

Go Banking System 

Go investment 

Go development 

Go economic growth 

Go Stronger dinar

[An economic vision on linking the dinar to the US dollar: a weak point for Iraq]

“pegging the local currency to the US dollar represents a state of weakness for the country’s economy, because the green currency changes depending on changes in the US economy, such as raising the interest rate by the Federal Bank, which will cause the value of the dollar to rise, and so on”

 

"Relying all purchases on the dollar could have a negative or positive impact," pointing out that "this issue can be overcome when there is a basket of currencies, that is, when the value of a particular currency is low, the government can move toward another currency”

 

“This happens when Iraq has a sufficient balance of these currencies, which gives it smooth conversion to the euro, the Russian ruble, and the Chinese yuan."

 

Like a mentioned in another post, I think Iraq is planning to peg the dinar to a 

basket of currencies. Euro, Yuan, Dírham, Ruble, Lira, Rupee, Dollar.

 

Just my opinion.!

 

Go Iraq 🇮🇶 

Go Stronger dinar

 

[IMF Staff Concludes Staff Visit with Iraq]

4 hours ago, BETTYBOOP said:

So is this talking about the previous revaluation when the cbi moved the exchange rate to 1310? Thus not actually stating that there is an RV coming as the gurus claimed

You are correct, they are talking about the previous 10% revaluation from 1450 to 1310.

 

From what I read in the IMF report they’re laying the foundation to move to

an open market economy 

 

They are in the right track…..Still some work to do.

Go iraq 🇮🇶 

Go open market economy 

Go stronger dinar

 

[Advisor to the Prime Minister: Iraq today has the highest levels of foreign reserves in its financial history]

I believe they’re close to $120 billion dollars in reserves.

 

Go Iraq 
Go reserves

Go Purchasing power

[Al Janoub Islamic Bank announces the provision of a transfer service in UAE dirhams]

“He added that merchants, owners of reputable companies, and importers only have to deposit money in Iraqi dinars, after which the bank sends the transfer in dirhams within two days, using easy and safe procedures.”

 

This is great, they are using the national currency to pay for trade.!

 

Deposit your dinar and pay in dírham 

Deposit your dinar and pay in Rupees 

Deposit your dinar and pay in Turkish Lira

Deposit your dinar and pay in euros

Deposit your dinar and pay in Yaun

Deposit your dinar and pay in US Dollar

 

 

This will bring in a lot of the chunky cash

It will help with the liquidity problem

Increase the demand for dinar 

 

Higher the Demand = Higher the Value 

 

Go Stronger dinar.

[Association of Banks: The battle with dollar speculators has reached its last round]

This is what was explained in detailed procedures and administrative, technical and negotiating steps with the US Federal Bank and the US Treasury Department, and the understandings on regulating foreign trade financing by approving the opening of accounts for Iraqi banks in US, Chinese, Emirati and Turkish correspondent banks to deal directly with them for foreign transfers in the currencies of these countries, which include the dollar, the euro, the Chinese yuan, the Indian rupee, the UAE dirham and the Turkish lira, leaving the electronic platform in 2024 and supplying dollars and currencies foreign banks into Iraq from Iraqi bank accounts with correspondent banks or abroad."

 

Maybe the plan is to do a currency peg (Dinar) with a basket of currencies;

(US Dollar, Chinese Yuan, The Euro, Turkish Lira, Indian Rupee and the UAE

Dirham)

 

Pegs are often put in place to provide stability to a nation's currency by linking it to an already stable currency.

 

Turkish Lira $0.034

UAE Dirham $0.27

Indian Rupee $0.012

Chinese Yuan $0.14

Euro $1.09

US Dollar $1

 

 

Go Stronger Dinar.