Wednesday Afternoon Opinions @ 4:30 PM MST - 5/21/2025

[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 

 

 

5-21-2025  Kaperoni Though many people feel that they haven't seen any results,  significant improvements in Iraq include the central bank's efforts to transition to digital. The two-year plan to integrate the banking system with the global financial system is a critical step.

 

5-21-2025  Militia Man  Article quote: "We are expecting a strong and robust economy with GDP growth of 5.3%...The giant strategic projects planned through 2028 confirm Iraq is on the verge of a major economic renaissance."  That is a big increase...

 

5-21-2025  Frank26   IMO things are happening and moving very fast.  Has an awful lot to do with Donald Trump. Nothing against Sudani but he was just slow because he's surrounded by a lot of issues that cause him to think twice...The banks are sharing information in Iraq the same way American banks are now sharing information with us.

 

5-21-2025  Pimpy Community comment: If the Iraqi government do something like deleted the zeros and devalue the 25,000 bank note down to 25, IMO this will hurt the trust of Iraqi government because they allowed the sale of the dinar understanding that this was an option in recuperation towards the Iraq government economy."  The Iraqi people don't give a **** if you bought their currency and invested in it.  It doesn't look bad on them.  The Iraqi government didn't make any promises about the Iraqi dinar...If you took that gamble, that's on you. [Post 1 of 2]

5-21-2025  Pimpy I would call it a devalue because they're not devaluing.  All they're doing is changing the way the bank notes look.  So instead of 25,000 dinar, you now have 25 dinar.  That's the nominal value.  That's just the way the note looks...It's not being devalued, it's still the same...Right now the exchange rate on 25,000 dinar is .00076...you get $19.  When they delete the 3 zeros off the bank notes...they're going to take the 3 zeros off the exchange rate.  So now it's going to be 25 x .76 which comes out to $19.  The value of the dinar stays the same.  The bank note, the nominal value, is the thing that's going to change. [Post 2 of 2]

 

5-21-2025  Fnu Lnu  Article quote: "A recent audit and monitoring of company practices revealed that some exchange firms have been charging citizens a commission of 50,000 dinars for purchasing dollars, double the amount stipulated by official directives."  This is exactly what I'm talking about when it comes to honesty in Iraq. They would rather steal a dime instead of earn a dollar. Theft and cheating has become a way of survival in this country, unjustly accused and excessively punished. It has been two generations since the Iraqis have known normal and everyone tries to best the system. They are not ready to RI/RV the currency until practices are uniform and legit. 

 

 

[yendor]

For two decades we've been hearing the "progress" Iraq is making towards increasing the value of the IQD. I don't think I can handle all these advancements. Thank you ,   gurus,  with all this super great news I will be able to buy a brand new paper clip.