The Central Bank of Iraq launches a package of measures to improve the performance of transactions related to the dollar

[Dretown39]

1 hour ago, Theseus said:

Really? The first to the 29th of January 2023? Let's look at a few items that have come out:

 

1) The fact that Iraq's CBI has stated they will be releasing 20,000 IQD notes at the end of 2023. Which blows the RV happening in January 2023 out of the water by itself. This is saying they are not removing the zeroes until after 2023. Second they are spending money on the design, plates and printing of the these notes. The 20,000 note also brings into line with most of the world's currency practices of 1, 5, 10, 20, and 50 notes. CBI has already said they are not going to print 100K notes.

 

2) The fact that Iraq's CBI has stated that they will be releasing coinage around 2026. 

 

3) The White Papers is the formula they are using to point to an RV between 2025, 2026, and 2027. As stated by several officials the rate will be this ways for years. Of course no one really knows except Iraqi officials in the CBI, the IMF and the World Bank. They will know before anyone else.

 

4) The GOI has yet to pass the Iraqi Oil and Gas Law, the HCL, and the implementation of Article 140.

 

5) The GCR will play a major role in the RV and whether or not the IQD will remain pegged to the USD. There is movement to unpeg the IQD from the USD after the RV stabilizes. Iraq history has depegged from Western currency before so it is not uncommon for Iraq to depeg from the USD.

 

6) Listen to what Blackrock is stating about the Central Banks next year on recession. Blackrock is stating that we are going to have a recession like any other because CBs are tightening up their policies rather than helping fight inflation. 

 

While there may, and I stress may, be movement in a positive direction, moving the rate back to the December 2020 rate,  it will not be a very large move as they, the CBI. will want to keep to the 2% rule the IMF set to get into Art 8.

 

MCP stands for Multiple Currency Practice, meaning a nation and it's citizens are using more than one currency for their internal transactions in their economies. Example using both the USD and IQD to purchase everyday goods and services. AT this time Iraq, even with the consolidation of the banks on who can sell the USD, is still employing MCP. A strong consternation for the IMF. While Iraqis may be getting paid in IQD, those same citizens are exchanging that for USD to increase their purchasing power.  

 

Be patient Iraq has turned the corner. The RV will happen, just not anytime in 2023.

This is the what I don't understand. With much they've accomplished why wait another 2-4 years to add value to the currency? Just curious 🤔  I heard they are Article 8 compliant. Why launch a international platform in another month or so and still be undervalued for more years? Not to say it won't happen but just don't comprehend fully.

[screwball]

3 hours ago, Dretown39 said:

4) The GOI has yet to pass the Iraqi Oil and Gas Law, the HCL, and the implementation of Article 140.

 

5) The GCR will play a major role in the RV and whether or not the IQD will remain pegged to the USD. There is movement to unpeg the IQD from the USD after the RV stabilizes. Iraq history has depegged from Western currency before so it is not uncommon for Iraq to depeg from the USD.

Disagree with the passing of the oil law, recents articles point to agreement and they need one reading then become law… article 140 will be activated when oil law has final reading passes…

 

as for the GCR the move is for all countries to move away from the USD and go back to their own gold backed and asset backed currencies…where was the five year plan back in 2013 when they were all set according to the articles? I don’t believe the five year plan has anything to with the RV and if you have proof that it doesn’t then please post 

 

as for the 20,000 Dinar note this may eventuate or it may not….time will tell.. as for black rock this is the cabal there rescission will be bankruptcy like vanguard! The white hats alliance are destroying them all…GCR reset is the WEF and UN plan there run is coming to an end… when the major exporting currency move to gold backed and this move is imminent the petrodollar will be no more Iraq unless they have done a deal with the devil will de couple

[screwball]

The US are pushing their gold backed digital currency will not be accepted by exporting currencies, they know the Biden digital CBDC is all lies and the white hats

have been expecting this..

[screwball]

  Few typos in the above post but can’t correct oh well…

[screwball]

Are we talking about this five year plan? 
 

Iraq five-year plan will attempt to diversify economy | Reuters

https://www.reuters.com › article › iraq-economy-plan-i...

 

 

 

19 Sept 2013 — The plan for the years 2013 to 2017 calls for investment of approximately $357 billion in development projects across the country, 

[screwball]

 Or are you talking about this five year plan? The National Development Plan 2018-2022 aims to achieve an appropriate economic growth rate consistent with the rates achieved by the Iraqi economy 

[screwball]

It seams like the five year plan is a rolling plan….with no definitive dates 

[screwball]

It would appear that the five year plan is a reconstruction plan…

[screwball]

4 hours ago, Dretown39 said:

Why launch a international platform in another month or so and still be undervalued for more years?

 

4 hours ago, Dretown39 said:

why wait another 2-4 years to add value to the currency?

this we will never understand….that’s if they choose to wait five years it appears that the five plan has been in play since 2013 and is the National Devrlopment Plan, a reconstruction plan…

[OfCamelot]

A few years ago I posted an opinion that we should not expect the Dinar's value to increase till around 2025.....and I got blasted by members here. 

This latest headline is indeed good news.  And right on track to see the increase in the Dinar value by 2025 and after.

What remains to be seen is how much the banks will make available to the open market.  The more it releases, the "havallah" rate will drop which will encourage foreign investment who would then have the ability to freely move Dinar's to Dollars and vis-versa in the operation of normal daily business.  Should this occur, Iraq's GDP will bet stronger, which will raise the value of the Dinar against the dollar.

This is good news indeed !!

Edited December 25, 2022 by OfCamelot
grammar correction

[screwball]

1 hour ago, OfCamelot said:

What remains to be seen is how much the banks will make available to the open market. 

Can you explain this statement please? 

[screwball]

1 hour ago, OfCamelot said:

A few years ago I posted an opinion that we should not expect the Dinar's value to increase till around 2025.

2025 is only two years away….which after 19 is a breeze!  Sad thing is people have died before realising any profits from this investment

[screwball]

The plan for the years 2013 to 2017 calls for investment of approximately $357 billion in development projects across the country, focusing in particular on five sectors: building and services, agriculture, education, transport and communications, and energy.

About 79 percent of that investment total would come from the government and the rest from the private sector.

Oil would remain by far the biggest source of revenue for the government during this period. Revenues from oil in the five years are projected at 768.7 trillion dinars ($662 billion), with revenues from non-oil sources at 43.5 trillion dinars.

[OfCamelot]

5 minutes ago, screwball said:

Can you explain this statement please? 

In the immediate move the Banks are allowing travel Dollars and some personal expenses charged to credit cards etc...that limit has not been entirely set in stone yet.  The next logical progressive step will be to make Dollars available for business transactions.  This will encourage foreign investments who can freely invest and withdraw at will.  Once that is true, the Dinar will move up in value.

[screwball]

6 hours ago, Dretown39 said:

3) The White Papers is the formula they are using to point to an RV between 2025, 2026, and 2027.

Where’s is this formulae because based on your five year plan which would run from 2023-2028 we won’t see a rate change until 2028? Why would you plan to rebuild at a cost of over 600 billion? This was previous 5 year plan which ended in 2017, before the next in 2018-2022…

[md11fr8dawg]

screwball, every now and then you or someone else here mentions The White Hats. My wife's cousin who lives in Manila has mentioned the White Hats. What or who are they and where do you get your info on them?

Thanks, Dawg!

Edited December 25, 2022 by md11fr8dawg

[Dretown39]

1 hour ago, screwball said:

Where’s is this formulae because based on your five year plan which would run from 2023-2028 we won’t see a rate change until 2028? Why would you plan to rebuild at a cost of over 600 billion? This was previous 5 year plan which ended in 2017, before the next in 2018-2022…

Something weird is going on with these posts. You're responding to a quote I never posted. That was Theseus.

[Dretown39]

4 hours ago, screwball said:

Disagree with the passing of the oil law, recents articles point to agreement and they need one reading then become law… article 140 will be activated when oil law has final reading passes…

 

as for the GCR the move is for all countries to move away from the USD and go back to their own gold backed and asset backed currencies…where was the five year plan back in 2013 when they were all set according to the articles? I don’t believe the five year plan has anything to with the RV and if you have proof that it doesn’t then please post 

 

as for the 20,000 Dinar note this may eventuate or it may not….time will tell.. as for black rock this is the cabal there rescission will be bankruptcy like vanguard! The white hats alliance are destroying them all…GCR reset is the WEF and UN plan there run is coming to an end… when the major exporting currency move to gold backed and this move is imminent the petrodollar will be no more Iraq unless they have done a deal with the devil will de couple

This is strange. I didn't post this quote. Theseus posted the above quote. It appears it has me posting it!

[Dretown39]

4 hours ago, screwball said:

 

this we will never understand….that’s if they choose to wait five years it appears that the five plan has been in play since 2013 and is the National Devrlopment Plan, a reconstruction plan…

Thanks 

[rvmydinar]

4 hours ago, OfCamelot said:

And right on track to see the increase in the Dinar value by 2025 and after.

Are you really really sure about that? Hope you're right.

[Officiallytook]

Hope your wrong I hope and pray to God they wouldn't announce it in any paperwork headlines or media posts... One day it'll just bang

Edited December 25, 2022 by Officiallytook

[coorslite21]

Language 

 

Exchanging dollars in banks is a practical approach to achieve stability in the exchange market, says PM advisor

 Economy

 

+A -A

 
 
Baghdad-INA
 
The financial advisor to the Prime Minister, Mudhar Muhammad Salih, confirmed on Saturday, that applying the mechanism for selling dollars in banks is a correct practical approach to achieving stability in the exchange market, pointing out that the monetary policy of the Central Bank of Iraq-CBI continues to provide options as well to achieve this goal.
 
"The new procedures in providing wide and multiple official outlets for exchanging dollar cash through the government banking system, with an increase in the allocation for one person to 5 thousand instead of 3 thousand dollars, up to 10 thousand dollars, represent a correct option to achieve stability in the exchange market," Saleh told the Iraqi News Agency (INA).
 
He added, "The followed procedures provide the cash dollar through available, fair and equal opportunities for the beneficiaries, and make it available directly to the groups that need it for the purposes of travel and treatment outside the country."
 
Salih pointed out that "This trend in the exchange market is a positive expansion in transforming the dollar cash market into a flexible market that enjoys a high degree of competitiveness, governance, and discipline at the same time," noting that "the monetary policy of CBI is a constant and continuous policy in providing other additional options for foreign currency supply, which will contribute continuously to the stability of the exchange market.
 
He also affirmed that "This move ensures at the same time maintaining the stability of the general level of prices, which is the ultimate goal of monetary policy in the country."

 

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The Iraqi News Agency (INA) is the first news agency in Iraq, and the second to be launched in the region after the Egyptian Middle East News Agency. The agency was established during the era of former President Abdel Karim Qassem in March of 1959 as an official news agency.

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[Dretown39]

Iraq could very well wait another 2  or 4 years but whatever. New GOI, Kuwait paid & other debts paid down, Reserves over 90 billion, various contracts signed, international platform coming, HCL & article 140 on the table. This looks good..what else is their left to do? Are there additional laws that need passing? Are there any other restrictions/sanctions that haven't come forth yet?

[OfCamelot]

3 hours ago, Dretown39 said:

Iraq could very well wait another 2  or 4 years but whatever. New GOI, Kuwait paid & other debts paid down, Reserves over 90 billion, various contracts signed, international platform coming, HCL & article 140 on the table. This looks good..what else is their left to do? Are there additional laws that need passing? Are there any other restrictions/sanctions that haven't come forth yet?

If the US just released the Dinars it is hoarding, that would certainly tip the value scales

[OfCamelot]

5 hours ago, rvmydinar said:

Are you really really sure about that? Hope you're right.

Thats my opinion rvmydinar, and I have my toes, fingers and everything else crossed that it does happen !!  Politics, especially corrupt politics, when combined with money are prone to unexpected twists and turns for sure.