Mountain GoatThe CBI has jumped through hoops to implement the much-needed banking reforms and even made the switch over to digital electronic payments in record time, something they have been trying to do since Dr Shabibi’s days more than a decade ago. They needed to ditch the dollar and that too we have been waiting so impatiently to see. It’s done! We are now also going to shortly see the Oil and Gas Law in parliament. This too is just about all done. Next the budget tables for 2025 will be passed on to parliament. We will see all of this happen suddenly and seemingly all in a short time period.MarkZ
[via PDK]
Our regular article from Saleh: ’Advisor to the Prime Minister: Monetary Policy has succeeded in stabilizing prices and curbing inflation’ He says ‘We are in great shape.’…Banking contacts think we are very close – just waiting on a final agreement…but believe it is very close. Frank26 (KTFA)
The United States of America was never going to let Iraq have a powerful exchange rate for [the Iraqi] country while you had Iranian politicians in your country telling [Iraq] what to do. Things are different now…
Article:
‘Prime Minister’s Advisor: Iraq is qualified to become a regional financial center with four strategic powers.’
This is an insult. How dare you tell me Iraq is going to become the financial hub in the Middle East at 1310…Be…wise enough, astute enough…confident enough to know none of this is at 1310…You’re smart enough, wise enough, savvy enough, you know what these articles are doing. They’re telling you everything (Asraflak) about monetary reform without giving you a new exchange rate because if they give you a new exchange rate then they got to also give you the lower notes. Those 2 are as top secret as you can get.
Trump threw a curveball at my teams…We don’t believe in a GCR but we do believe that, oh my goodness, something is about to c***k with currencies around the world.Sandy Ingram
One of the biggest concerns about Iraq’s currency regarding a revaluation is the country has overprinted the money. Iraq’s efforts to reduce the circulation of the IQD is excellent news.MilitiaMan
Just for a sidebar, we remember … there were videos out that showed Iraq was destroying perfectly good money. Many people saw this. I can’t find it but the data that’s out on the internet doesn’t deny that it existed but you can’t find the video. Maybe there’s a good reason for that.Samson (KTFA)
Article:
‘30 Iraqi banks no longer deal in dollars’
Quote:
‘3A news outlet obtained an updated list of licensed private banks in Iraq that have been banned from dealing in dollars…’JeffThey’ve got to change the rate before the new budget amendments can get approved and implemented…they’re preparing the budget to come forward, potentially at the start of August… It’s very simple… We’ll see on that. We don’t know that for a fact. That’s opinion. But a lot of this has to do with accounting periods and the timing of the rate change. Pimpy
Article quote:
‘Oil exports made up 91% of Iraq’s $107 billion federal revenue in 2024.’
It used to be 95%. 91% means at least they’re going in the right direction. They need to diversify their budget a little bit more. They can’t rely so much on oil prices…Iraq has got to maintain $84 per barrel in order to keep from running a deficit for the year…Right now t’s at $68.65 nowhere near that $84. This isn’t good for Iraq…This is not a stable situation…They have a lot of very big projects…that are really going to benefit their economy…It’s just going through the process of getting to that [tipping] point that’s a pain in the b**t.Source : dinarchronicles
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