Tuesday Early Afternoon Opinions @ 2:15 PM MST - 4/01/2025

[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 

 

 

4-1-2025   Fnu Lnu  We may be in for more of a wait than people think. Once the training and installation of the digital system is compete, there will be testing. It could be months before an RV is feasible.

 

4-1-2025  MarkZ Question: What is the difference between a redenomination and a revaluation? A: With a redenomination they do not change the value…just print higher bills because they have lost so much purchasing power. The white papers have been very clear that they want to lift the purchasing power and the exchange rate…so a revaluation. They have been very clear they are not redenominating.

 

4-1-2025   Militia Man  Times to me are surely looking really good for an exchange rate change that is expected at this time...because that's the project they talked about - the digital dinar.  Did they not?  Didn't Alaq talk to you about, 'We're gearing to launch the digital dinar.' [This is] potentially close to getting an announcement from Al-Sudani.  Now we wait for Alaq to have a conversation with us.  I would assume within the next few days if they're talking about this reform to be stared after EID.  That's not very long from now.  We're going to have to wait to see what they do.

 

4-1-2025  Clare  Article: "Budget tables: approximately 200 trillion dinars, with a deficit exceeding 64 trillion dinars." Quote: "Iraq's 2025 budget tables have been sent to the Council of Ministers, with estimates indicating that the budget will range between 180 and 200 trillion dinars, while the deficit could exceed 64 trillion dinars, according to members of the Iraqi parliament's Finance Committee."

 

 

[screwball]

46 minutes ago, ronscarpa said:

The white papers have been very clear that they want to lift the purchasing power and the exchange rate…so a revaluation. They have been very clear they are not redenominating.

IMF was very clear that iraq needed to make in their own words a "sizeable fiscal adjustment" for the purpose of "creating fiscal space"

[screwball]

48 minutes ago, ronscarpa said:

while the deficit could exceed 64 trillion dinars, according to members of the Iraqi parliament's Finance Committee."

its this deficit thats the problem, and why shabibi said that the central banks job is correct the imbalance by supporting the government with exchange rate adjustments the deficit is clearly linked to the investment and new projects budget that also includes social security and welfare....would the IMF saying that Iraq back in 2016-2017 reports that iraq needs to make a "sizeable fiscal adjustment" to create "fiscal space" be a way of supporting the budget and eliminating the deficit....giving them purchasing power...buy more with less???

 

They are not going to tell you that "hey by the way we are changing the rate and going to delete the zeros making our rate the contract rate of 1 dinar equlas 1.32, thus reducing our budget deficit??? NOPE!

 

I think its coming, and very soon!

[screwball]

its also clear to me the reason why they have not presented the budget schedules is because of this so called "deficit" then parliament would question them over why the deficit and how they will address it......This is not the first time they have questioned them over the deficit....the whole reason we are waiting on these schedules is the big hoorah it created lasted time!!!!!!

[sharkcatcher]

How does deleting the zeros's make the contract rate 1.32?

[screwball]

6 hours ago, sharkcatcher said:

How does deleting the zeros's make the contract rate 1.32?

because thet do both delete zeros and set rate

[screwball]

contract rate is 1.19 plus inflation

[sharkcatcher]

Thanks for the reply! Is the 1.19 contract rate something that the CBI has stated before? Must have missed that...

 

[screwball]

24 minutes ago, sharkcatcher said:

Thanks for the reply! Is the 1.19 contract rate something that the CBI has stated before? Must have missed that...

 

yes it was publicised on Minspistry of Planning website for many years to enable companies to place tender bids, we posted actual documentation supporting this a few months ago!

[sharkcatcher]

Thanks!! You're in Australia, I spent a little over a week in Perth once...