HOT: Monday Afternoon News & Opinions @ 5:50 PM CST - 1/23/2023

[ronscarpa]

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... So, take everything with a grain of salt ....  RON 

 

 

Henig  Article: "A foreign newspaper: The Americans contacted the Sudanese more than (ten) times about the exchange rate and the smuggling of dollars" Quote: "The newspaper said that US officials raised this issue several times with the Sudanese Prime Minister, the latest of which was by the White House Coordinator for the Middle East and North Africa, Brett McGurk, last Monday, and US Ambassador Alina Romanovsky was in close contact with the Prime Minister and held more than ten meetings. The exchange rate was always at the top of her list."

 

Frank26  Article: "Al-Sudani: We are supervising the completion of a “different” budget, and we continue to support the restoration of the exchange rate". SUDANI AND GHALEB WORK TOGETHER FOR THE 2023 BUDGET & NEW EXCHANGE RATE. 

 

Sandy Ingram   Iraq's prime minister has dismissed the governor of the country's Central Bank of Iraq and assigned its former chief of the CBI. The Iraqi prime minister said he dismissed the head of the CBI in an attempt to assuage public anger over a currency crisis that has let to an increase in the prices of goods.

 

MarkZ  There is news that the director of the CBI has stepped down. Why is this important? Sudani said early in this process that if the CBI was hesitant to release it…they would replace the director of the CBI.  Everything is ready…they have done everything they need to do for a revaluation…I am assuming…based on evidence I can see…is Sudani has made the decision to force the issue on a change in value…personally I am excited. 

 

Frank26  The American dollar is bouncing all over. The Iraqi dinar is going through a float internally. It's removing its 3 zeros so it can be at least 1 to 1 when they leave the border to float. Wishful thinking Frank - there's no guarantee as to what they will do..! RON 

 

Clare  Article:  "After dismissing him, the governor of the Central Bank, the Sudanese hints at a decrease in the exchange rate of the dollar"  Quote: "The Prime Minister, Muhammad Shia Al-Sudani, relieved the Governor of the Central Bank of Iraq, Mustafa Ghaleb Makhaif, from his post, due to the continued rise in the exchange rate of the dollar and the bank’s inability to curb it.  Al-Sudani assigned former bank governor Ali Mohsen Al-Alaq to manage the central bank by proxy. The Prime Minister also referred the Director of the Trade Bank of Iraq to retirement and assigned Rabal al-Hamdani...Al-Sudani commented on the changes by saying: "The departments that have been assigned to the Central Bank and the Trade Bank of Iraq possess skills and will work to reduce the rise in exchange rates." 

 

RVAlready  Article: "Prime Minister Mohamed Shia al-Sudani decided on Monday to relieve Central Bank Governor Mustafa Ghaleb Makhif from his post" Article Quote: "In a measure aimed at rehabilitating the Iraqi dinar and restoring its position in the local market, Prime Minister Mohammed Shia al-Sudani took a courageous and correct decision to reinstate former Central Bank of Iraq Governor Ali Mohsen Al-Alaq and dismiss Mustafa Ghaleb Makhif, who held a legal position in the bank...Observers are encouraged by this measure, which could put things back on track." Hopefully, this guy will straighten the CBI out. RV comin down the track. 

 

 

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Edited January 24, 2023 by ronscarpa

[Luigi1]

Thanks Ron.  All great posts.  Every post talks of cleaning up corruption at CBI & Iraq banks.