MarkZ
[via PDK]
Article:
‘Minister of finance reveals the reason for the delay of approving the financial budget in Iraq’
They say a lot of things are changing financially…some kind of big changes coming to Iraq soon…they are hinting at it…changing the value of the dinar would be a big change…I think this month is looking great.
We are seeing some craziness on aggregating professional sites with fluctuating rates and pairings. It’s the pairings and pairing rates that are really unique. If they are accurate we may be looking at a rate of $5 or so…IF they are accurate.
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Wolverine
It’s happening, guys. I’m told to get out the Champaign bottle. The reset has begun.
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Frank26 (KTFA)
[Iraq boots-on-the-ground report]
FIREFLY: We are seeing the parallel market price at 1395. It’s creeping even closer to the official 1310.
FRANK: Another amazing and positive thing…It is closing very quickly over the last three months. I’m excited to see what happens over the next three weeks with this rate.
The tariffs are playing a big part in [Iraq’s] ability to do business internationally. The tariffs are handcuffing [Iraq]. All Sudani has to do is add value to your currency and the tariffs will fall off immediately. Is it the IMF that’s going to pull the trigger. No, it’s the CBI and Sudani. Now granted, the IMF works with them and tells them and gives them permission to do so but it’s not them that pulls the trigger…
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Clare (KTFA)
Article:
‘The Central Bank embarrasses Iraqi banks: 13 of them are on the violations list!’
Quote:
‘official data issued by the Central Bank of Iraq revealed that only 11 of the 24 private commercial banks licensed to operate have not faced any punitive measures related to their transactions in US dollars…Full list of non-sanctioned banks: Bank of Baghdad, United Investment Bank, National Bank of Iraq, Iraqi Credit Bank, Economic Bank for Investment and Finance, Warka Bank for Investment and Finance, Gulf Commercial Bank, North Bank for Finance and Investment, Mansour Investment Bank, International Development Bank for Investment and Finance, Arab Iraqi Bank…’
Article:
‘The TIR Agreement Activates Iraq’s Transit Economy: Billions of Dollars in Revenue and a Trade Corridor Linking the Gulf to Europe’
Quote:
‘In a significant shift in the trajectory of the Iraqi economy and its efforts to diversify non-oil sources of income, the Iraqi government announced the country’s official accession to the TIR Convention. Experts and officials consider this move a key milestone in the ‘Development Road’ project, through which the government seeks to consolidate Iraq’s position as a regional trade corridor linking the Gulf and Europe.’MilitiaMan
I invested in the Iraqi dinar because of my experience in the past when I was trading gold stocks and such. A good friend shared with me something. He says, ‘Hey have you ever heard of the Iraqi dinar.’…I said, no. He said, ‘Well, why don’t you do me a favor. Will you study it for me and see what you think.’ I said sure I’ll do that…I found from the IMF a brief description of Iraq’s currency. Back in those days it was around $3.22…Just like gold and silver and precious metals, I believe Iraq is going to be asset forming…
15…10…5 years ago we didn’t have this information…We’ve been…able to collectively follow along and see how everything has been converging. All the new technologies…new systems…e-government, all those things we didn’t have before…It’s a sad state if you’re invested in the dinar and you think it’s ‘Blah, blah, blah’. Get c****t up.
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Walkingstick (KTFA)
There are no sanctions on Iraq anymore in any way, shape or form. There are no sanctions. You have the IMF today giving permission for Iraq to do whatever they want to do with their exchange rate…The IMF has confirmed what is going on inside of the CBI and…inside of Iraq…The handcuffs on their currency is gone. That’s why you’re seeing all of this now being said…Now, they’re still in transition legally and that’s ok because we can keep them under our wing and protect their currency… But there are no active restrictions that remain right now on the CBI or their currency.
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Sandy IngramWhat is Article VIII. Article VIII outlines key rules for countries in the IMF framework…Member countries agree not to hinder international transactions for trade, services or travel. They can’t block money flowing in or out without IMF approval. It forbids discriminatory currency actions…It ensures convertibility of foreign held currency. Member nations must convert foreign held balances into their own currency or special drawing rights (SDRs) when used for acceptable currency transactions. Accepting Article VIII signals a country is committed to open and fair currency practices. It boosts trade, builds investor trust and integrates the nation into the global economy. Iraq does not yet have Article VIII status.Kaperoni
Question:
‘What are your thoughts on what is moving forward with the IMF and Iraq for the near future.’
Iraq is making progress. Improvements in the banking system. But as I said for years, until they have something to export and diversify their economy, nothing will change in regard to the value of the dinar. The IMF is basically saying what everyone’s been saying for years.
Source : dinarchronicles
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