Tuesday Midnight Opinions - CDT - 6/27/2023

[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  

 

 

Frank26   Question: "Is there such a thing as redemption centers?" Of course. That's where you're going to go exchange, which is a bank.

 

Walkingstick  The New security law is another step for the new national currency to leave Iraq's borders.

 

MarkZ   Still hearing tremendous expectations from tomorrow - Wed to July 3rd. It makes sense we could see it in that time period.

 

Paulette  Dialogue- PAULETTE:  I still don't understand why the Budget couldn't be implemented at a Program Rate...Every Budget previously implemented was at a Program Rate even though many have said that it couldn't be done.  The value of the Budget is and has always been delineated in USD as the revenues for the Budget predominantly come from oil sales in USD.  The MOF given authority by the Budget Law then requests the CBI to exchange USD for IQD in order to pay the expenditures. RANDY: You're right, it can open at 1300, but it looks like financial stupidity, and three year international financial suicide if it holds at that rate, all this work for despair?  [Post 1 of 2] Reposted

 

Paulette   PAULETTE: that makes a little more sense.  So, they could but would they is the real question...one would have to conclude that they are certainly not planning on carrying the budget at 1300 much longer.  They are attempting to De-Dollarize but don't have a current Currency Structure to do so, they have reduced the 3 zeros in circulation and are predominantly utilizing the 250, 500 and 1,000 denominations, to really De-dollarize they need to be able to utilize IQD to purchase imports, they have improved the banking sector to International Standards, they are forcing Merchants to utilize the POS units, And, infusing the market with trillions of IQD will likely lead to inflation..[Post 2 of 2]

 

 

Edited June 28, 2023 by ronscarpa

[screwball]

lets see what happens we wait for the launch of the green bird, surely when this happens then the IQD must be freely tradeable??

[edbeach]

The airline deal is 5-6 Billion and to be funded by the Central Government Yes we wait and see. I have no faith in this Iraq Government to get to 1 to 1  JMO  Good night

[Luigi1]

MZ may be on to something...July 3rd is a day to be on the lookout for.  IMHO.

There were some articles last week of ISX re-opening for business after six days of closure after EID.

[haden'sdad]

I believe we are close! We waiting for the HCL to be finalized. There were many paragraphs in the budget 14 & 15. We've all seen many budgets come and go with not much change in the value of the dinar. There's been much talk about the HCL lately (Kurds agreeing), then everything stopped. Last I heard that it was going to be addressed after the holydays. We'll see. I'm not saying anything other than, yes it was good for them to address the budget. However, now let's address the HCL...then give HIM praise... jmho