Welcome to the Dinar Observer – Daily. For regular Dinar Updates, to see what the Dinar Gurus have to say, Dinar to USD listings, IQD and for Iraqi Dinar info – THAT MATTERS!! This is a good place to start for your Daily Dinar Recap – whether you are a Dinar vet or just looking for a little current Dinar info – Welcome.

Word for the day…

Mrs. BGG

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CURRENCY	CODE	SELL	BUY
US dollar	USD	1182.000	1180.000
Euro	EUR	1233.890	1233.273
British pound	GBP	1469.108	1468.373
Canadian dollar	CAD	886.190	885.747
Swiss franc	CHF	1148.911	1148.337
Swedish krona	SEK	125.938	125.875
Norwegian krone	NOK	136.156	136.088
Danish krone	DKK	165.979	165.896
Japanese yen	JPY	10.000	9.995
Special Drawing Rights	SDR	1584.495	1583.702

Indicative rates – 12.19.2016

http://www.cbi.iq/

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Everyone has a right to speak; no one has a right to be listened to. – Will Spencer

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*** Current News ***

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Dinar Updates – “Round Table Call!!”
Tues. nite – Dec 20th 7:30pm CST
w/BGG, Mr White, Loop, 1Bobby, MadScout and MORE!!
641-715-3640 pin#528733
or Click-N-Listen!!

from Dec 13th Smart phone user link – Click here

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Kaperoni (Dinar Guru) –   Article:  “Parliamentary investment: central bank reserves fall to $ 40 billion ”    It’s a game of chicken between the CBI and IMF.  The IMF won’t let the CBI advance the banking system until they follow the directives, yet the CBI cannot stop the corruption which is depleting the reserves.   Who will win?
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tman23 (Dinar Guru) –   The IQD to revalue at a rate that includes 3 zero notes at exchange NEEDS to be backed by somebody other than Iraq… Simply put…Iraq does not have the money to pay out exchanging 3 zero notes at a high revalue…Because Iraq does not have trillions to pay out exchanging high value 3 zero notes…countries are going to hold them in their currency basket…keep in mind most the big banks are public held and on the stock exchange…Not one of them is going to risk holding a toxic currency from an unstable region for any amount of time…UNless the UST guarantees the bank to cover that said currency…REALITY remains the same…They are lifting the 3 zeros beginning 2017 and the guess is still on going on how that affects the value of the 3 zero notes we hold…
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BGG (Dinar Guru) –   [What’s up with the RV?]  If you want to know about timing…listen to what Allaq with the CBI said…he said the Monetary Reform process would start in the early part of 2017...so the 1st quarter of 2017 is what the governor of the CBI says is when they will start the process.
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Dissertation by Daytrader:

There are three financial channels active in Iraq; monetary reform, economic reform and SBA loans. All three of these channels are interdependent (symbiotic).

Monetary reform is the responsibility of the CBI, but needs the cooperation of the GOI for legislation and the GOI’s preparation for the transition (budget, trade, ISX etc). Monetary reform will likely fail without a following successful economic reform.

Economic reforms are the responsibility of the GOI, but funding and loans from the CBI and the Iraqi banks along with international contributions are needed to make it a success. It is also reliant on the monetary reform to establish the financial foundation.

SBA loans are needed to bridge the revenue shortfall until the gains from the monetary and economic reforms surface. Additionally, a strong relationship with the IMF and World Bank will enhance Iraq’s status in the international community and improve its credit rating.

Read More: http://www.dinarupdates.com/blog/
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firefly (Dinar Guru) –   Article:  “Balutiqh..omanh Cabinet declares its non-stop government appointments”  Quote:  “…the adoption of all the records of the Ministry ratified by competent minister until the date of 31.12.2016, and the Ministry of Finance to complete all the procedures, including deletion and development.”  to complete all the procedures, including deletion and development.  [now that looks pretty exciting…so by Dec 31st?]  Ya think? Thats what many articls are saying in print…
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Frank26 (Dinar Guru) –   Article: “Sources to Baghdad Post: Military operations in Mosul come to end”  Quote:  “The military operations in Mosul have come to an end, security sources told The Baghdad Post.  The sources pointed out that a police reshuffle is imminent after Haider al Abadi visited the operations headquarters earlier.”   We told You…From the 18th into the 19th …A [Abadi] would release sometime of importance with the MR.  Today …The SECURITY for the MR.   IMO…There will be more tomorrow.
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Kaperoni (Dinar Guru) –  Article:  “Parliamentary Finance: most of the banks in Iraq do not apply the principle of “know your customer”  Changing CBI governors is not something we want…  Each time this occurs, it weakens the currency, investor confidence, citizen confidence and slows down monetary policy.  Abadi more than likely is getting guidence from the IMF and World Bank on how Allaq is doing.  The fact that he is still in place tells me he is doing his job, and moving reforms along as laid out in the various agreements.   The last sentence…to a World Bank document…is clear when referring to the removal of Shabibi…i will paraphrase…no matter who is the CBI governor, the plan is moving forward.
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FaceBook “LIVE” session from Friday nite w/BGG

Click here for Replay

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Islandg1211 (Dinar Guru) –   “THE IMF RELEASES ANOTHER $618 MILLION LOAN TO IRAQ”   This article summarizes the meeting that resulted in the IMF releasing the loan installment even though Iraq did not meet all of their expectations.  THE RV WAS NOT TIED TO IRAQ GETTING THE LOAN INSTALLMENTS.    I was right that:   1 – The IMF would give them the loan without an RV.   2 – That the GOI would pass the Budget…but no other laws…nor vote in cabinet…and would leave for a month vacation.

BGG ~ Really?!? So 2 “no predictions” is a big win?? Means NOTHING.

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Kaperoni (Dinar Guru) –  Article:  “Parliamentary Finance: most of the banks in Iraq do not apply the principle of “know your customer”  Changing CBI governors is not something we want…  Each time this occurs, it weakens the currency, investor confidence, citizen confidence and slows down monetary policy.  Abadi more than likely is getting guidance from the IMF and World Bank on how Allaq is doing.  The fact that he is still in place tells me he is doing his job, and moving reforms along as laid out in the various agreements.   The last sentence…to a World Bank document…is clear when referring to the removal of Shabibi…i will paraphrase…no matter who is the CBI governor, the plan is moving forward.
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1bobby (Dinar Guru) –   Article:  “Member of the Finance Parliamentary: 2017 Moismh positive cause to activate the financial realities and the private sector”    ACTIVATE ACTIVATE ACTIVATE the Private Sector! Once again that phrase dominates the publishing of the 2017 budget. How could we not be excited about this budget? Too many people out there saying “Big deal, just another budget” Seriously?
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Follow us on twitter @DinarUpdates !!

Don’t MISS – “DU NEWS TIME” w/BGG and Company – Dec. 18th 7:30pm EST – In DU CHAT!!

www.DinarUpdates.com – save as favorite

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1bobby (Dinar Guru) –  “There is nothing negative in this budget” With oil priced at $42 pbl, 2017 will be a cash cow for Iraq. Abadi stated in an interview “According to our own calculations, I think that the rise in oil prices, every one dollar for a barrel of oil will add one billion dollars to our budget. So, I think we will have more by cutting the production and increasing the price.” Oil is their collateral for supporting the private sector and other non oil revenues for sure.
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Adam Montana (Dinar Guru) –   [Have you had the opportunity to read the first review of the three-year (2016-2019) Stand-by Arrangement by the IMF. Do we have to wait till 2019 for an increase of the dinar exchange rate?]   Well, I certainly hope not! I don’t see why they need that much time. Things have started moving faster over the last year. If the situation had not changed in the manner that it has, then maybe we’d be looking at another 3 years. But I do see things ramping up and moving faster, and it doesn’t need to stretch out that long.
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1bobby (Dinar Guru) –   Article:   “Parliamentary Finance: the general budget and provided guarantees to rally public and clans and staff of Kurdistan and to support private sector”   What a great article! Paragraph by paragraph shows us steps that will be taken to ensure a strong viable Iraq and a happy us.   Notice how in almost every budget related article that transparency with the Kurds is prominent? The kicker to this one is that Iraq is tired of exiting monies, they now want monies entering Iraq via investment projects thru Global Banks. WOOT WOOT!! Again Baghdad will be in charge, but the Provinces will now have the go ahead with large investment opportunities which will lead to small businesses thriving.
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IBBC ‏@IBBC_London 

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MadDScout (Dinar Guru) –   Article:  “Parliament will vote on the federal budget for 2017”  This is the after report on the vote in parliament.  This is just a way different budget (IMO) than we have seen in budgets of the past.  None of them had the kind of “Activate the private sector” talk that seems to be a part of this one. Especially if you know that, what we as investors are waiting on is the activation in full of all reforms. Many of these are in various states of completion. Some being done, some waiting on certain parameters to be met ( i.e. budget vote? Complete GOI? <<(IMO)) With the signing off agency being the IMF.   So for those who feel this can drag on just remember, they are being directed and guided by IMF and for IMF to sign off, they need accomplish those things stipulated.
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Adam Montana (Dinar Guru) –   Here’s the short and skinny. 1. Good news surrounding the HCL lately. Is it going to happen before the new year? I have no idea, but good HCL news is good HCL news!  2. More good news on the progress in Mosul. I still can’t believe the MSM isn’t making a bigger deal out of this, but they are what they are. Things are going well there, and that’s what we need. Go Iraq!   3. The CBI seems to be talking more about the exchange rate lately, which is exactly what I expect before they finally make a big change. My suggestion is to not believe a word they are saying, but instead pay attention to the simple fact that they are discussing it.
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wmawhite (Dinar Guru) –   Giving value to the IQD will also give the Iraqi citizen “purchasing power AND reduce the demand for the USD.”  Are laws needed. Yes, but with out value to the IQD none of the private sector growth will ever occur. We have always thought, because we were told by certain self proclaimed experts, that it was investors first followed by economic growth followed by a rise in the IQD.  Sorry! That is AXX Backwards. If the value in the IQD does not occur up front all of the above will not take place. The Iraqi citizens need purchasing power. Look at what Alak stated (above).   [post 2 of 2]
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Dinar Updates – “News Time/Call!!”
from Thurs. nite – Dec 15th
w/MadDScout, 1Bobby and More!!
Click-N-Listen!!

Smart phone user link – Click here

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wmawhite (Dinar Guru) –   …this is the ever evolving discussion about how best to control the value of the IQD “on the street”.  Currently, the auctions are used for that purpose. it has been a failure. Now, everybody has an opinion about how best to do it.  However, the Governor of the CBI just last week told the world how it will be accomplished; “He noted that the solution in Iraq lies in dollar demand reduction through structural correction of the Iraqi economy, and not through refraining from selling the dollar.”   Reducing the demand is giving value to the IQD so that all of those goods being bought with the USD is now bought with the IQD. Giving value comes from the CBI in advance, prior, before, all of these foreign investors. Not after!  [post 1 of 2….stay tuned]
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Kaperoni (Dinar Guru) –  …there is an article …that does not sit well. CBI News. The article to me seems to be implying the CBI should just introduce a whole new currency at a 1 to $1 exchange rate.  Which would not benefit current dinar holders. Not what the IMF nor the CBI have stated was in the plan.  Not to mention a new currency with a random exchange rate would fail.  I see this article as just another attempt to avoid what they should be doing. Like so often, Iraq tries shortcuts. There are no shortcuts.  The IMF has clearly stated the plan for the dinar, it does not include a new currency.  New lower denominations yes, but not a new currency.  The issuance of a new currency would be counter productive for Iraq, especially with a few trillion dinar already circulated around world.
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firefly (Dinar Guru) –   Quote:   “Iraq continues to avail itself of the transitional arrangements under Article XIV, Section 2 but no longer maintains any exchange restrictions or multiple currency practices subject to Article XIV, Section 2, and currently maintains two exchange restrictions and one multiple currency practice (MCP) subject to Fund approval under Article VIII, Sections 2(a) and 3…”   Straight from the IMF.  …talking past tense!  no longer maintains any exchange restrictions or multiple currency practices subject to Article XIV, Section 2…   Wow, wow, wow!!!  [awesome news.]  Yes it is. I see no hold ups whatsoever to date.
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Iraq:

FIRST REVIEW OF THE THREE-YEAR STAND-BY ARRANGEMENT…AND STATEMENT BY THE EXECUTIVE DIRECTOR FOR IRAQ (Very long…)

cr16379
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firefly (Dinar Guru) –   […i still do see how we all think that jan 2017 may be a change in the value…]   If the project to remove the zeros begins as planned in early January 2017 wouldn’t it logically need a change in rate 1st?
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Kaperoni (Dinar Guru) –   Iraq: First Review of the Three-Year Stand-By Arrangement and Financing Assurances Review    [Looks like from this article the IMF wants them to stay on the peg indefinitely until oil prices go up and ISIS is gone. They speak of Iraq being committed.]  Until the conditions are created, I would expect so.  That means until laws are passed and investors begin to come into Iraq we are at status quo.
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Islandg1211 (Dinar Guru) –   NOTHING, NOTHING, NOTHING…THEN SOMETHING! Recently…the CBI came out and stated that they had tried to delete the three zeroes before in 2011, 2013, and 2015, but were delayed and plan on beginning the projects the first part of 2017…Three attempts that failed…hopefully, 2017 finally going through.
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Dinar Updates – “Round Table Call!!”
from Tues. nite – Dec 13th
w/BGG, Mr White, Loop, 1Bobby, Daytrader and MadScout!!
Click-N-Listen!!

Smart phone user link – Click here

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Kaperoni (Dinar Guru) –   Article:  “Is Iraq heading to float the dinar against the dollar?!”  Quote:  “…and these expectations (float Iraqi dinar) does not have any credibility at all and can not be done during the current year (despite the economic benefits), and the reasons for not float the currency back to the nature of the local economy being a rentier which means that he relies on oil exports…”  This guy is right, they can’t float the dinar at this time.  Until the laws are passed and the market economy is started, investors begin to come into Iraq.
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BGG (Dinar Guru) –   “Ministerial council looking reinforcement provided by NATO to support Iraq contracts”  NATO support…  [They have come a long way in terms of professionalism and quality of individual…]  They want “International acceptance” and support – this is exactly how they get it.  …they are on the road to restoration. Let’s hope sooner than later.   All indicator seem to point to something being “up”…
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firefly (Dinar Guru) –   IMO Iraq has only one chance to get this right. Once they implement the reform there is no turning back. They need to come out with absolutely no mistakes. So is this a delay or …
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Iraqi Dinar/Dollar auction 12-13-16 (most recent listing)

Currency Auctions Announcement No. 3337

This daily currency auction was held in the Central Bank of Iraq on the 12-13-2016

The results were as follows:

DETAILS	NOTES
Number of banks	34
Number of remittance companies	15
Auction price selling dinar / US$	1182
Auction price buying dinar / US$	—–
Amount sold at auction price (US$)	149,426,498
Amount purchased at Auction price (US$)	—–
Total offers for buying (US$)	149,426,498
Total offers for selling (US$)	—–

More: http://dinarupdates.com/blog/
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wmawhite (Dinar Guru) –  Read this carefully, it is from a recent statement from the CBI:   “noting that ” the central bank began the first steps of the project through the selection of designs, companies and the country that will be done Print currencies. “He noted that” the introduction of new currency does not mean the destruction of ancient coins, but it will continue to trade to about ten years…”    “the introduction of new currency does not mean the destruction of ancient coins, but it will continue to trade to about ten years,”   Now hear this! Your “ancient coins (translation… currency/notes)”    …in other words…your 25,000 IQD notes will always be 25,000 IQD notes.   Eventually…as the larger notes are withdrawn from the marketplace…smaller notes will be needed because the price of goods will decrease, and such notes as the 25 IQD will be commonplace.
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firefly (Dinar Guru) –   [just hoping this time its really gonna happen.]  It IS happening before our very eyes…NOBODY knows the Date ,,,, it will just happen one morning when you wake up… But…I believe if the project to remove the zeros begins as planned in January, something else has to occur 1st…Removing the 3 zeros refers to removing the 3 zero notes off the street…So what will they be replaced with?   [the lower demons which would make them raise the rate]  BINGO!
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wmawhite (Dinar Guru) –   When the word project is used…it is referring to many pieces /action items that make up the project…if they state removing the three zeros then IMO it is referring to the lowering of the note count…which has been happening for some time, as well as…the need for the larger notes not being needed in the market place, i.e…
“removing the three zero notes from the currency“…that statement was just recently used be Alak…this, IMO…means the increase in value of the IQD which will lower the price of goods in the marketplace, thus…removing the need for the three zero notes.  
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firefly (Dinar Guru) –   If there is a real event rate change it WILL show at the CBI 1st!  IMO even a 1-1 makes no mathematical sense comparing it to the 2017 budget.
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rcookie (Dinar Guru) –   Article quote:  “And about the prospects for Iraqi dinar to float, like other countries in the region, this relationship does not arise in the present, and we are working on is not currency float, and the big difference between the two.”   READ THAT QUOTE FROM ALAK…AND ASK YOURSELF HOW DELUSIONAL YOU HAVE TO BE TO STATE AN ABSOLUTE VALIDATION TO THE FLOAT PLAN…WHEN IT CLEARLY STATES THE OPPOSITE…
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rcookie (Dinar Guru) –  BY MAKING THE DINAR WORTH .10  …AH…NOPE…I DONT THINK SO…EVEN AT 1:1…IS THAT GOING TO BE ENOUGH TO PRY THE DINAR OUT OF THEIR COLD HANDS…AND GET IT INTO BANKS…BIGGER INCENTIVE…IMHO…AND THE OTHER THING THAT ARTICLE TELLS US IS HOW FAR ALONG THEY ARE IN THE REDUCE THE NOTE COUNT PROCESS…AND CORRELATION TO THEIR LIQUIDITY CRISIS…WHICH WOULD BE SEVERELY EXACERBATED AND PROMOTE HYPER-INFLATION BY SUDDENLY ENDING AUCTIONS…THEY NEED INCREASED PURCHASING POWER AT POINT OF SALE...   [post 2 of 2]
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Be sure to join the Dinar Updates “private” FaceBook Group…

https://www.facebook.com/groups/571383766355188/

(go here and ask to join… then add some Dinar Friends!!)
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rcookie (Dinar Guru) –   Article:   “Central Bank Governor: no room to cancel the sale of the dollar window, if canceled , the exchange rate has become 3 or 4000 and maybe more”  Quote:  “And about the prospects for Iraqi dinar to float, like other countries in the region, this relationship does not arise in the present, and we are working on is not currency float, and the big difference between the two.”  THAT ARTICLE WAS ONE OF THE MOST INFORMATIVE WE HAVE EVER SEEN…  HE TALKS IN SPECIFICS ABOUT THE…POLITICIANS AND MEDIA STATEMENTS WAGGING THEIR FINGERS ABOUT AUCTION FAILURE AND STABILITY OF IQD…AND HE SAYS IT VERY SIMPLY…YOU ARE NOT GOING TO STABILZE THE IQD BY TURNING OFF THE AUCTION FAUCETS…THE ONLY TRUE WAY TO DELIVER IQD STABILITY IS TO REDUCE THE DEMAND FOR THE USD…AND IDENTIFIES “STRUCTURAL CORRECTION OF THE IRAQI ECONOMY”…AND HOW DO THEY INHERENTLY REDUCE THE DEMAND FOR THE US DOLLAR…   [post 1 of 2….stay tuned]
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Shredd (Dinar Guru) –   I see possible evidence of a continued managed float (with continued auctions) before a market-driven (and no auctions) free float. This is why I say this:  “He noted that the solution in Iraq lies in dollar demand reduction through structural correction of the Iraqi economy, and not through refraining from selling the dollar.”  “Structural Correction” means a planned, controlled process.  Additionally, if a free float and stopped auctions started now, it would “collapse” Iraq’s financial situation.  Bottom line, it’s good to see this specifically being discussed. With the project to remove the zeros coming soon, let’s watch what happens.  [post 2 of 2]
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Shredd (Dinar Guru) –  Article:  “The Governor of the Central Bank: no way to uninstall window selling the dollar, if the exchange rate became cancelled 3 or 4 thousand, maybe more/”   As I read and reread through this, I look at the big picture which I always try to do. The scope of this is around the auctions. The cbi must keep them going to prevent collapse. They are the single most effective tool right now for the cbi to maintain stability in the currency.  Future state, interest rates will become a primary tool. Now I know some people in the dinar world are going crazy because the word “float” is mentioned but… [post 1 of 2….stay tuned]
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Dinar Updates – “The After Call!!”
from Thurs. nite – Dec 8th
w/MadDScout, 1 Bobby & MORE!!
Click-N-Listen!!

Smart phone user link – Click here

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rcookie (Dinar Guru) –  Article:  “Central Bank Governor: no room to cancel the sale of the dollar window, if canceled , the exchange rate has become 3 or 4000 and maybe more”   Quote:  “He noted that the solution in Iraq lies in dollar demand reduction through structural correction of the Iraqi economy, and not through refraining from selling the dollar.”  [This means they have to make their currency aceptable in the world’s marketplace so there would be no need for the USD.]  THAT IS EXACTLY RIGHT!  ITS A PRETTY PAROCHIAL CONCEPT… ACHIEVE IQD STABILITY = REDUCE USD DEMAND IN MARKETPLACE…
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Kaperoni (Dinar Guru) –   More great news! CBI announces the launch of mobile banking. Welcome to the 21st century Iraq!  Let me show a list of what occurred in last few days…mobile banking, electronic credit sharing, ATM’s, Allaq talks floating the dinar.  Not to mention the 2017 budget passed today. Is this Iraq? Lol.
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Kaperoni (Dinar Guru) –   Nice. Good to see parliament accomplish something. 2017 budget now passed.
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Kaperoni (Dinar Guru) –  Article:  “Central Bank Governor: no room to cancel the sale of the dollar window, if canceled, the exchange rate has become 3 or 4000 and maybe more”   Quote:  “…we are working to free floating currency…”   …direct from governor of CBI.  Words in article…are absolutely validation on the plan…  CBI Governor confirms float of the dinar. Though great news and vindication, he says they are not ready yet. I can wait. …today’s news is absolutely amazing and validation we wanted to hear.
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Iraqi Dinar/Dollar auction 12-08-16 (most recent listing)

Currency Auctions Announcement No. 3335

This daily currency auction was held in the Central Bank of Iraq on the 12-08-2016

The results were as follows:

DETAILS	NOTES
Number of banks	35
Number of remittance companies	15
Auction price selling dinar / US$	1182
Auction price buying dinar / US$	—–
Amount sold at auction price (US$)	149,531,438
Amount purchased at Auction price (US$)	—–
Total offers for buying (US$)	149,531,438
Total offers for selling (US$)	—–

More: http://dinarupdates.com/blog/
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Admin Bob (Dinar Guru) –   Article:  “Central Bank announces start the exchange of credit information system “electronically”   Quote:  “Iraqi Central Bank announced on Tuesday, to work with an electronic system for the exchange of credit information, explaining that “this system allows the government and private banks to the exchange of credit information among themselves and between the Central Bank of timely and reliable manner”  Another very signifcant banking announcement came today.  The Central Bank of Iraq announced the launch of the electronic system for the exchange of credit information. More good news for sure.
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BGG (Dinar Guru) –   …there is SOOOOO much great financial / economic / legal news… lately…how can we NOT be really jazzed about where things are?  The general consensus – we are in a VERY SHORT window… things are moving fast for Iraq right now...
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Kaperoni (Dinar Guru) –   The CBI is clearly doing it’s part to kick start the market economy, loans, electronic banking, credit reporting, it’s now up to parliament.
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Iraqi Dinar/Dollar auction 12-07-16 (most recent listing)

Currency Auctions Announcement No. 3334

This daily currency auction was held in the Central Bank of Iraq on the 12-07-2016

The results were as follows:

DETAILS	NOTES
Number of banks	35
Number of remittance companies	15
Auction price selling dinar / US$	1182
Auction price buying dinar / US$	—–
Amount sold at auction price (US$)	150,580,002
Amount purchased at Auction price (US$)	—–
Total offers for buying (US$)	150,580,002
Total offers for selling (US$)	—–

More: http://dinarupdates.com/blog/
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Enorrste (Dinar Guru) –  Article:  “Finally .. withdraw your money in Iraq from ATM”   Quote:  “CBI launched the National divider that allows the holder of a credit card issued by a state bank and a special withdraw money from any automated teller machine ATM is widespread across the country.”   Not to be a naysayer, but we all must also recognize that in order for anyone to use an ATM machine in Iraq they must first have a bank account.  We may be putting the cart before the horse here.  The problem is that people don’t use the banks.  Thus, they may not use the ATM machines.  Of course foreigners could use them, and that satisfies a portion of the “international banking” that KAP has referred to.  But I won’t get too excited until I see deposits into banks from locals rise.
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rcookie and BGG (Dinar Gurus) –   SO UNTIL THAT BUDGET IS VOTED ON AND PASSED…WHAT DOES THE IMF & IRAQ HAVE TO MEET ABOUT…    Article:  “IMF Executive Board Completes First Review of Iraq’s Stand-By Arrangement”  Quote:  “December 5, 2016   IMF disburses about US$617.8 million following completion of first review of Iraq’s reform program”   Wooo POOOOWWW!!!  [post 2 of 2]
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rcookie (Dinar Guru) –    THE IMF REVIEW IS A CHECK AGAINST IRAQS COMPLIANCE TO FISCAL REFORM COMMITMENTS…IRAQ MADE IN MAY (AHMAN,JORDAN) IN ORDER TO BE APPROVED FOR THE 1ST PART OF SBA FUNDS ACCESS…THE COMPLIANCE CHECK AGAINST FULLFILLMENT CAN ONLY COME FROM 1 SOURCE…   [Passing the budget and passing laws?]  THEY HAVE BY ALL REPORT ACCOUNTS MET THE REQUIRED REVENUE & EXPENDITURE MANDATES IN THE APPROVED DRAFT OF THE 2017 BUDGET LAW…BUT STILL REMAINS A REPORT UNTIL IT IS VOTED INTO LAW…  [part 1 of 2….stay tuned]
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Dinar Updates – “The After Call!!”
from Mon. nite – Dec 5th
w/RCookie, Mr White & More!!
Click-N-Listen!!

Smart phone user link – Click here

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Kaperoni (Dinar Guru) –   Article:  “Finally .. withdraw your money in Iraq from ATM ”  I do…believe this is a significant step forward for Iraq as this advancement will improve Iraq’s banking system activating e-commerce, ATMs, electronic transactions, etc. As stated in several articles this is necessary to meet international standards. Which we know is a requirement for international banking and eventually Article VIII. All measures that will help the dinar appreciate when the time is right.  All of this will have an effect on corruption. And show the global financial system Iraq is ready for international transactions.
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BGG (Dinar Guru) –    IMHO – the IMF wants them to start acting like a real country, pass budgets correctly and on time, pay their bills – kick out terrorists, don’t pursue their political adversaries in a “police state” sort of way …either way – IMF, UN, WB has had enough.   
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Kaperoni (Dinar Guru) –   Article:   “Finally .. withdraw your money in Iraq from ATM”  Quote:  “CBI launched the National divider that allows the holder of a credit card issued by a state bank and a special withdraw money from any automated teller machine ATM is widespread across the country.”  Good news.  Project “chucked” or project “divide” whatever you want to call it has been talked about for several years. Finally, it is operational.  ATM’S are now active in Iraq! Woo-hoo. This is a critical step towards bringing Iraq’s banking system online and up to speed with the rest of the world.  For those who say “Iraq never accomplishes anything,” this is a milestone.
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BGG (Dinar Guru) –  Article:  “Iraqi parliament accepts proposal to pay Kurdish gov’t employees in return for oil”   Isn’t this a little like “Water is wet”…or “we’ve agreed to do everything we’ve already agreed to do…”… correctly this time…the fact of the matter is this… the IMF is looking over their shoulder – they HAVE TO GET THIS DONE… 
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MadDScout (Dinar Guru) –  Article:  “Iraqi parliament accepts proposal to pay Kurdish gov’t employees in return for oil”   This is the Kurdish portion that has been approved not the vote on the Budget…That will be Monday at 1PM.
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BGG (Dinar Guru) –   Article:  “Urgent Jubouri declared the readiness of the budget and printed for a vote”   they have been working on it….it will happen…they HAVE TO – IMF is likely pushing this. [sounds like they are voting on it now…as we speak.]  That is what I gathered… however, we are a world away and this is Iraq… we should wait and see.
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Iraqi Dinar/Dollar auction 12-05-16 (most recent listing)

Currency Auctions Announcement No. 3332

This daily currency auction was held in the Central Bank of Iraq on the 12-05-2016

The results were as follows:

DETAILS	NOTES
Number of banks	34
Number of remittance companies	14
Auction price selling dinar / US$	1182
Auction price buying dinar / US$	—–
Amount sold at auction price (US$)	148,733,574
Amount purchased at Auction price (US$)	—–
Total offers for buying (US$)	148,733,574
Total offers for selling (US$)	—–

More: http://dinarupdates.com/blog/
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Breitling (Dinar Guru) –   Here’s the difference between Iraq and Turkey…the one thing you need to understand is that Turkey got rid of the three zeros on it’s notes.  In other words their note count never changed.  They never took any notes out of the market…why is Iraq taking physical notes out of their market?  …Turkey took three zeros off their currency, they didn’t take any physical notes out…they pretended they reduced the note count by taking the three zeros off the notes.   We know Iraq is not doing the same thing.  Why?  Because they physically took notes out of circulation.  They already retired the 50 dinar note.  So they went from 9 billion notes to 6 billion notes.  Did they take any zeros off in that process?  No!  They went from 6 billion to 4 billion.  Did they pretend there were any zeros off their notes at any time?  No!  Did they retire any notes that they had out there?  Yes…they retired the 50 dinar note.  How people don’t see the difference..either they don’t or it’s just too much to handle.  This isn’t for everybody…It can’t just be on hope and prayer cause you end up loosing.  There has to be logic somewhere. 
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BGG (Dinar Guru) –  ...they are working with us, the IMF, the UN and the world…they need international acceptance.  Iraq’s currency situation is getting better and better – ISIS money being destroyed. AND – we’ve got the major players hunting “smuggled currency”… DAILY.  My guess…there is likely 10-20% of the outstanding currency there was a couple of years ago… Economic and monetary reform is already on the way (started)… HANG ON!!
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Frank26 (Dinar Guru) –   …know this…When it happens it will be posted on the CBI website with no celebration in Iraq. It will simply be another day.
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Iraqi Dinar/Dollar auction 12-04-16 (most recent listing)

Currency Auctions Announcement No. 3331

This daily currency auction was held in the Central Bank of Iraq on the 12-04-2016

The results were as follows:

DETAILS	NOTES
Number of banks	34
Number of remittance companies	14
Auction price selling dinar / US$	1182
Auction price buying dinar / US$	—–
Amount sold at auction price (US$)	150,152,573
Amount purchased at Auction price (US$)	—–
Total offers for buying (US$)	150,152,573
Total offers for selling (US$)	—–

More: http://dinarupdates.com/blog/
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rcookie (Dinar Guru) –   [I have heard that they have to RI or RV to get their loan…?]  NO…IT IS ABSOLUTELY NOT TRUE…THE IMF LAID OUT EXACTLY WHAT IRAQ NEEDED TO DO TO QUALIFY FOR THEIR ACESS TO SBA…EXACTLY…JUST AS THEY DID FOR PREVIOUS SBA’S…SMP’S AND RFI’S….AND NOWHERE…NOWHERE HAS THERE EVER BEEN EVEN REMOTELY A SUGGESTION OF SUCH…EVER.
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tlm724 (Dinar Guru) –   Saleh announced on 11/27/16 that there will be a new bank to finance trade and private sector thus creating a single window for the purchase of USD and eliminating the CBI having to deal with it. There will very strict guidelines as mentioned in the article above and that will eliminate the fraud and corruption of the auctions! Things are shifting in our favor. We have a great chance of seeing huge progress in the delete the zero’s project in the coming months…  It wouldn’t surprise me to see the HCL and the agreement with Kurdistan finalized as well…good days are just ahead! We have the IMF holding one hand of the CBI and the US Treasury holding the other. Be kinda hard to mess up with that combo at your side!  Appears all systems are go just gotta restore stability…  [post 2 of 2]
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rcookie (Dinar Guru) –  JUST READ THIS HEADLINE… “Jubouri: Parliament ongoing legal legislation in which they can change the reality of this country“   NUFF SAID…
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rcookie (Dinar Guru) –    Article:  “Iraqi Kurdistan displays oil deliveries to Baghdad”  Quote:  “The President of Iraq’s Kurdistan Regional Government, Nechirvan Barzani, was ready source of oil delivered to the federal government in Baghdad, against the payment of salaries of employees of the province, to welcome the Iraqi Oil Ministry this step, which is a breakthrough in the list between Baghdad and Erbil oil crisis.”  KURDS ARE TURNING OIL PRODUCTION OVER TO CENTRAL SO TO FACILITATE OIL AGREEMENT AND COMPLIANCE OF REGIONAL COMMITMENTS TO RECEIVE THEIR 17%…
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Dinar Updates – “The After Call!!”
from Wed. nite – Nov 30th
w/RCookie, Mr White & More!!
Click-N-Listen!!

Smart phone user link – Click here

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Frank26 (Dinar Guru) –  …the Budget.   Will the budget they are working on come out with a new rate?  IMO…no.  Can it come out with a new rate? Oh yeah.   Is the budget ready?  Yes…because Abadi told you so a few days ago.  What did he say in the article? That it was being postponed…  The new rate will NOT come out from the new budget…but from the CBI…when they are good and ready.  All of this comes from a “play-book” or plan.  The budget will be in dinars. That is a VERY IMPORTANT FACTOR… If they have the new rate in it…they are not going to tell you about it.  IMO – the budget will not wait for the new rate…it moves on.  When the new rate is out…EVERYTHING can be easily converted to the new rate that they are working on with the MR. 
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rcookie   …ALAK….SALEH AND FINANCE COMMITTEE MEMBERS HAVE OUTLINED 7 LAWS IN ADDITION TO THE INVESTMENT LAW AND OTHER ECONOMIC & FINANCIAL ACTS IN NEED OF AMENDING… 
1. CENTRAL BANK LAW NO. 56 (2004)
2. FEDERAL BANKING LAW NO. 94 (2004)
3. COMPANIES LAW NO. 21 (1997)
4. IRAQI STOCK EXCHANGE LAW NO. 74 (2004)
5. FINANCIAL ADMINISTRATION ACT
6. INTEGRITY COMMISSION ACT
7. PFM LAW AMENDMENT & INCORPORATION TO 2017 BUDGET LAW
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hutch (Dinar Guru) –     LOTS OF GREAT RECONCILIATION THINGS HAPPENING… WE ARE IN A GREAT PLACE RIGHT NOW!
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Iraqi Dinar/Dollar auction 11-29-16 (most recent listing)

Currency Auctions Announcement No. 3328

This daily currency auction was held in the Central Bank of Iraq on the 11-29-2016

The results were as follows:

DETAILS	NOTES
Number of banks	35
Number of remittance companies	14
Auction price selling dinar / US$	1182
Auction price buying dinar / US$	—–
Amount sold at auction price (US$)	149,497,790
Amount purchased at Auction price (US$)	—–
Total offers for buying (US$)	149,497,790
Total offers for selling (US$)	—–

More: http://dinarupdates.com/blog/
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Backdoc (Dinar Guru) –   Article:  “Oil Industry Anticipates Day of Reckoning”   WITH ALL THAT IS COMPLETED AND COMPLETING IN IRAQ AND VIETNAM, THE DOLLAR WILL NOW BEGIN TO MAKE ITS’ ADJUSTMENT AND OIL WILL BEGIN ITS’ RIDE HIGHER!   THIS IS A HUGE EVENT…  THESE COUNTRIES KNOW THAT ITS NOT JUST ABOUT OIL IS IT?   NO!   MANY COUNTRIES ARE READY FOR CURRENCY ADJUSTMENTS, AREN’T THEY?   MY EYES WILL NOW WATCH FOR EVENTS ON THE 8TH THAT WILL BE STARTED!
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BGG (Dinar Guru) – …at this point – Maliki is likely a non-factor…In fact…a couple of days ago…Maliki was attacked by SHIAS during the “haj” to Karbala…In laymans terms – his own people attacked him as a criminal and a thief!! Very telling as to the mood of the people in Iraq. It would also appear there is “broad support” for this rooting out of corruption and cleaning things up…So – while Maliki has likely been an economic non-factor for a while now – he clearly once was… AND as recently as YESTERDAY the final issue may well have been settled…they are moving ahead economically and financially – monetary reform is about all kinds of other things. [post 2 of 2]
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BGG (Dinar Guru) – While Maliki is of little importance to the current situation – as in economic reform… it is HUGE that he’s been gradually minimized over the last year or two. Culminating in this “Law of Popular Crowds” being passed JUST YESTERDAY…this “Law of the Popular Crowds” …IT IS VERY IMPORTANT…this law brings the Shia Militias more under the control and purview of Abadi and the Central GOI. The fact of the matter is this – without Maliki being gone – NONE of this economic, political and monetary policy reform would be possible…Once Abadi took over – he’s had to chisel away at that “power base” a little at a time… [post 1 of 2….stay tuned]
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Iraq receives four billion dinars as a loan from the World Bank next month

Special News – Economic Adviser to the Prime Minister revealed the appearance of Mohammed Saleh, Sunday, that Iraq will receive four billion dinars as a loan from the World Bank, the start of the month of December next.

Saleh said, L / balance News /, that “Iraq will receive four billion dinars as a loan from the World Bank loans of the seven major industrialized nations and the European Union, the start of December next.”

He said economic adviser, said: “The loan is allocated to support the general state budget for the purposes of investment projects, which include support for various projects, including vital infrastructure destroyed and the rehabilitation and reconstruction of the affected areas,” .anthy 29 / A 43 areas

Read More: http://www.dinarupdates.com/showthread.php?44250-Iraq-receives-four-billion-dinars-as-a-loan-from-the-World-Bank-next-month-11-27
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Adam Montana (Dinar Guru) – …we are HEATING UP! I’m not even going to go into great detail about the current situation, it’s THAT easy to understand. 1. We have a good shot at a Budget this week. This is unprecedented, and will be the soonest Budget approval EVER. 2. Oil. ‘Nuff said: “Kurds request Baghdad and Erbil to commit Oil agreement” 3. World Bank to loan 4 billion DINARS next month. That’s NOTHING… without a change in the rate. Seriously not even worth the paperwork, much less a news story… WITHOUT A CHANGE IN THE RATE. Can you say “GO RV”? This is quite simply one of the best times I have ever seen for the IQD, and we are witnessing it happen right in front of our eyes! I’m pretty sure some of you are finally starting to wake up to the fact that we are getting close…
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BGG (Dinar Guru) – Article: “Iraq receives four billion dinars as a loan from the World Bank next month” When I saw this one – my first thought was… 1) That is great… the WB pitching in (even if it IS only 4 million USD) means they are HEADED towards international “re-integration”… via IMF oversight and my second thought was…2) 4 million USD doesn’t seem like much (or less) – unless of course… it’s NOT REALLY 4 million? they quoted this number in Dinar (which they would – since it is in Arabic vernacular)…but that number may not be “exactly static”…Who knows what 4 Billion Dinar is worth then? 4 million doesn’t do much in the way of “reconstruction”… That article says Dinar… another one says USD… My point…it’s probably NOT 4 Billion Dinar at it’s current value. That would only be 4 Million USD – that’s about enough to “reconstruct” one really nice house…4 Billion – on the other hand… might be a start…
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BGG (Dinar Guru) – “…Iraqi Council of Representatives included a vote on the draft general budget of the Federal Republic of Iraq for fiscal year 2017 on Monday session agenda.” Well – they have already pushed thru some crucial votes… no need to stop now. If they want to stay in good with the IMF they have some “housekeeping” to get handled – this business about passing budget bills late in the current year won’t fly…I expect to see a 2017 budget passed before 2017 gets here…
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Iraqi Dinar/Dollar auction 11-28-16 (most recent listing)

Currency Auctions Announcement No. 3327

This daily currency auction was held in the Central Bank of Iraq on the 11-28-2016

The results were as follows:

DETAILS	NOTES
Number of banks	31
Number of remittance companies	14
Auction price selling dinar / US$	1182
Auction price buying dinar / US$	—–
Amount sold at auction price (US$)	150,918,243
Amount purchased at Auction price (US$)	—–
Total offers for buying (US$)	150,918,243
Total offers for selling (US$)	—–

More: http://dinarupdates.com/blog/
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