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Parliamentary Committee: The dollar will not return to its previous price until after 4 years


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53 minutes ago, utah rock said:

Could this be miss direction to scare speculators away? 
This gives me four more years to stockpile more Dinar, sounds good to me, I’m still relatively young. 
At anytime, it is going to happen! Let’s GO!!!! The worst the news the better, JMO 👍

 <_<

 

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3 hours ago, Laid Back said:

“We must wait for the next elections in 2025, that is, after four years, so that we can control the exchange rate."image.jpeg.e82e12bbe0a2b7ae5bd333836c6d4b84.jpeg


Loos like there’s a possibility of an RV between 2022 and 2025

 

 

 

That tweet was in 2018. 2021-2022

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%D8%AF%D9%88%D9%84%D8%A7%D8%B1-696x435.j

Information / private.

On Sunday, the Parliamentary Finance Committee described setting up a schedule of the dollar’s exchange rate as it is now for four years as “illogical”.

A member of the committee, MP Muhammad al-Shabki, said in a statement, to Al-Maalouma Agency, that “setting a schedule for four years to restore the dollar exchange rates to normal is illogical and contains many inaccuracies,” indicating that “the scheduling of exchange rates is not subject to monetary policy.”

He added, "The increase in exchange rates was part of the government's monetary policy to fill the deficit in some economic areas, and this matter cannot be generalized to the rest of the years."

He pointed out that "determining the exchange rates and monetary policy shall be annually according to the needs of the state." Ended / 25 r

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Everyone, keep in mind that, highly likely, there will be no meaningful rate change of any amount (meaningful from our perspective) until we see the establishment of the National Oil Company via the related legislation. Now, it may well be 2-4 years until that occurs. Who knows. Just saying don't get too excited or down until you start hearing about a draft sent from committee for pre-vote review, just like they did with the budget.

If you'll remember, there were mentions by (someone, I can't remember) a finance committee person saying they had some form of a national oil company bill for review mostly ready to go but that they were waiting until all of the dust from the budget passage settled before considering sending it out for review.

I would like to think we'll start hearing about that again, come Jun/Jul.

 

More than any of this though, I'd like to hear from Adam about all of this. Enough newsworthy things have taken place since his last update that there'd be no shortage of content.

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9 hours ago, Karsten said:

If this is true then they can kiss the Grand Port of Faw Off. GE and Seimens working on a 125 Mega Watt Grid to get Electricity out to the people. They can forget all about becoming the Central Hub of the Middle East plus ALL the Arab States that are going to possibly Suffer a loss of Value in their Currency as well.

 

They expect US to believe that all these International Companies there rebuilding Iraq are going to be Okay with Working for Nothing for the Next 4 Years?

 

I don't believe it.

 

Karsten

Voice of reason 

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2 hours ago, TexAg91 said:

Everyone, keep in mind that, highly likely, there will be no meaningful rate change of any amount (meaningful from our perspective) until we see the establishment of the National Oil Company via the related legislation. Now, it may well be 2-4 years until that occurs. Who knows. Just saying don't get too excited or down until you start hearing about a draft sent from committee for pre-vote review, just like they did with the budget.

If you'll remember, there were mentions by (someone, I can't remember) a finance committee person saying they had some form of a national oil company bill for review mostly ready to go but that they were waiting until all of the dust from the budget passage settled before considering sending it out for review.

I would like to think we'll start hearing about that again, come Jun/Jul.

 

More than any of this though, I'd like to hear from Adam about all of this. Enough newsworthy things have taken place since his last update that there'd be no shortage of content.

National oil company has been around for years!!! Old oil law is in play 

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14 hours ago, Laid Back said:

“We must wait for the next elections in 2025, that is, after four years, so that we can control the exchange rate."image.jpeg.e82e12bbe0a2b7ae5bd333836c6d4b84.jpeg


Loos like there’s a possibility of an RV between 2022 and 2025

2025? that means still 4 more years from 2021. it is the same like what Abadi said " after three or four years " from 2018. what Abadi and Hamza almost said the same word " four years " and the only difference is the date.  are Abadi and Hamza are the same person, using a different name?

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  •  
 2021-05-20 16:13
 

Shafaq News / Iraq’s Parliamentary Economic and Investment Committee confirmed, on Thursday, that the exchange rate of the Iraqi Dinar against the US Dollar will remain the same until 2025.

"It was supposed that the new exchange rate will remain for one year, but the agreement of the political forces and the government breached the agreement that said the exchange rate of the dollar remains the same until 2025." the Committee member Nada Shaker Jawdat said.

“For this, the prices rose by 25%." She said

“Prime Minister Mustafa Al-Kadhimi, the Minister of Finance and the Governor of the Central Bank have dared to change the exchange rate because they have a political approval," Jawdat continued.

Last December, Iraq’s central bank increased the sale price of U.S. dollars to banks and currency exchanges to 1,460 dinars, from 1,182 dinars, seeking to compensate for a decline in oil revenue due to low crude prices.

The central bank of Iraq said the key reason behind the dinar’s devaluation was to close the gap of widened 2021 budget inflation after a collapse in global oil prices, a major source of Iraq’s financial resources.

On March 2021, the Iraqi parliament voted on the first article of the budget law, which included to adopt the dollar exchange rate of 1450 dinars per dollar.

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Suck up the money give me all the money once we have all the money then we can change the rate... Kinda like the holders of doge ... 7 yrs waiting, some hodln billions of coins...lol just to sell off at 0.007/.01 this is that moment .... Stay strong weve been holding this long what's a few more days...

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9 minutes ago, yota691 said:
 
  •  
 2021-05-20 16:13
 

Shafaq News / Iraq’s Parliamentary Economic and Investment Committee confirmed, on Thursday, that the exchange rate of the Iraqi Dinar against the US Dollar will remain the same until 2025.

"It was supposed that the new exchange rate will remain for one year, but the agreement of the political forces and the government breached the agreement that said the exchange rate of the dollar remains the same until 2025." the Committee member Nada Shaker Jawdat said.

“For this, the prices rose by 25%." She said

“Prime Minister Mustafa Al-Kadhimi, the Minister of Finance and the Governor of the Central Bank have dared to change the exchange rate because they have a political approval," Jawdat continued.

Last December, Iraq’s central bank increased the sale price of U.S. dollars to banks and currency exchanges to 1,460 dinars, from 1,182 dinars, seeking to compensate for a decline in oil revenue due to low crude prices.

The central bank of Iraq said the key reason behind the dinar’s devaluation was to close the gap of widened 2021 budget inflation after a collapse in global oil prices, a major source of Iraq’s financial resources.

On March 2021, the Iraqi parliament voted on the first article of the budget law, which included to adopt the dollar exchange rate of 1450 dinars per dollar.

I don’t understand how the Iraqi citizens don’t burn down the cities with the government in them !!

The citizens have been promised for years , more purchasing power and better lives ... when will they protest hard enough to actually bring about change... not just empty promises ?

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8 minutes ago, Shelley said:

The citizens have been promised for years , more purchasing power and better lives

I beleive they still can recieve Purchasing Power with a 1460, they just need to move the decimal over 3 clicks to the left...

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