Iraq will not sever ties with Iran despite pressure from Arab nations
AMMAN, Jordan – Iraq will not sever ties with neighboring Iran under pressure from other Arab countries, the Iraqi Foreign Minister confirmed to Rudaw on the sidelines of the Amman Summit as a draft resolution is being considered by the Arab League members calling on Tehran to cease meddling in affairs of the region.
“Iraq is not ready to step towards agitating the region and will not sever ties with any neighboring country,” Ibrahim al-Jaafari told Rudaw, referring to its Shiite neighbor Iran, a strong ally of Baghdad.
Baghdad is not willing to cut ties with any neighboring country, even Turkey, Jaafari said, despite growing differences between the two over the presence of Turkish troops in northern Iraq.
“Do you know that when I am speaking right here Turkish troops are in Iraq, but we have not ended relations with Turkey,” he said.
He stressed that Iraq is doing its best to have friendly relations with its neighbors.
“We do our outmost to lead our relations to go on the right way,” he said, confidently.
Read more: http://www.dinarupdates.com/blog/
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BGG (Dinar Guru) – When we talk about the price tag the IMF and the UN have put on Mosul…one has to wonder exactly what leverage the UN has in this game… It is clear what say the IMF has – they are the IMF… but the UN, on the other hand, not so clear…unless viewed through this narrow window. I doubt the UN will allow Iraq an immediate exit from Chapter 7 – the sanctions, yes… the protection… I just doubt it. What does this mean for us? As long as they are doing as the IMF and UN have laid out for them – no reason the IMF and the UN won’t support a return “international acceptance and integration”…and that is all any of us care about. [what has to happen for them to get out of chapter 7] A better question – and the one we all really want to know is… do they even have to be fully out of Chapter 7? My guess. No – they do not…
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1bobby (Dinar Guru) – …if we look at CH 7, the 2 big ones that were given back to Iraq were the right to defend themselves and control of their currency. Having the U.N announce the removal of CH 7 to the world is what Abadi’s looking for.
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MadDScout (Dinar Guru) – Article: “Abadi calls during his meeting with the Secretary of the United Nations to remove Iraq from Chapter VII” IMO) Abadi can only be asking because, along with other criteria, they are ready, or he would not have asked in front of the world…I think it says volumes about where they are.
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Kaperoni(Dinar Guru) – Article: “Abadi calls during a meeting with Secretary of the United Nations to remove Iraq from Chapter VII” Quote: “{Baghdad} Euphrates News called on Prime Minister Haider al-Abadi to remove Iraq from Chapter VII to end the occupation of Kuwait and file resolutions imposed on the people of Iraq because of Saddam’s regime policies.” This is important and will motivate them to get the dinar engaged with the global financial system.
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1bobby (Dinar Guru) – Article: “Abadi calls during his meeting with the Secretary of the United Nations to remove Iraq from Chapter VII” We knew that Iraq was NOT out of Chapter 7, but not in a stranglehold as they had been. They now have the right to defend themselves and control their currency. The issues that are outstanding are the reparations to Kuwait and to the best of my knowledge the Oil for Food/Medicine Program. Now if we look back to late last year Iraq made an announcement that the OFP had ended. If we recall the U.N Rep stated that Iraq has made great progress as far as the OFP and the June date was set as a “let’s see what happens between now and then” kind of a date. For Abadi to publicly come out and ask the U.N Secretary General to no longer associate Iraq with Ch 7, is a big move on his part and I doubt he’s expecting a no answer. They can still have working files, but to have the U.N come out and publicly rid Iraq of the CH 7 shadow would be a huge move forward. As we have seen Kuwait has been a big supporter of Iraq as of late and has continuously been working with Iraq on outstanding issues.
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Kaperoni (Dinar Guru) – Article: “Iraq’s Current Economic Outlook And How it Can Affect Dinar Value” Quote: “With the economic boom led by Iraq’s oil industry, the national currency in the form of the Dinar will eventually rise to reflect the true value of the country’s oil wealth. The rise will most likely happen when the National Bank of Iraq lifts the artificially low value placed on the nation’s currency in 2003.” The problem with that statement is the dinar is not artificially low. It reflects the current exchange rate based on the current conditions. Remember, Shabibi raised the value already from about 3000 / $1 to 1186 /$1 back in 2004-2005 to reduce inflation. Until the market economy takes off, IMO we will not the dinar rise the remainder of the way. To me, making such a statement as “artificially low value”…shows a lack of understanding…
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Chattels (Dinar Guru)- Article: “Iraqi News reporting US troop level increases. “America sends more troops to Iraq” It will be interesting to look for commentary in the news from Sadr and others.
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Loop (Dinar Guru)- Article: “Iraqi command: western Mosul battle finished “on the military level” Quotes: “western Mosul is done on the military level”, adding that “what is left to do is to purge the remaining areas”. “The remaining Islamic State members in the western side of Mosul are “gangs remnants that are targeted accurately by security forces”. What he is saying is that what is left are gangs and not an organized resistance.
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Kaperoni (Dinar Guru)- Article: “Governmental directives to amend legislation in the transition to a free economy” Quote: “The government proceeding towards a free economy and stimulate the private sector and this trend is accompanied by procedural and legal amendments.” He added that ” the General Secretariat will spare no effort to support the upgrading of Iraq on the highest indicators according to the World Bank standards.” We will have to watch the agenda’s the next few weeks and see if parliament acts
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BGG (Dinar Guru)- [What are your thoughts on the new cbi logo?] Lots of changes going on at the CBI. Change is GOOD
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Trump reaffirms US commitment to Iraqi people in phone call with Abadi
BAGHDAD, Iraq — A week after meeting face-to-face in Washington, D.C., Iraqi Prime Minister Haider al-Abadi received a phone call late Wednesday night, in which US President Donald Trump reaffirmed US commitment to the Iraqi people in the fight against ISIS.
Trump emphasized that military and intelligence cooperation should continue, according to the PM’s website, adding that the courage and intelligence of the Iraqi people “who are loved and respected” by the US will inevitably banish “ISIS gangs.”…
Read More: http://www.dinarupdates.com/blog/
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Loop (Dinar Guru) – Article: “Iraq’s economy is now on the way to recovery” Quotes: “The World Bank’s latest economic forecast expected Iraq to bounce back in 2016, growing at 7.2% in that year and continuing at around 5% in the next few years…With the security situation now improving, and the oil price on the rise – the indicators are moving in the right direction for Iraq’s economy.” UK MP from Scotland telling a group of Scottish companies that now it the time to invest in Iraq to make huge profits in the future. She is saying the the greatest opportunity to profit from the investment is prior to their ascension into the WTO. So once again we see someone from outside of Iraq pointing out what we have known for a long time. IRAQ’S ECONOMIC POTENTIAL IS HUGE AND THEY ARE GETTING THEIR ACT TOGETHER TO REALIZE THAT.
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Frank26 (Dinar Guru) – IN MY STRONG OPINION…the MR has been going on inside of Iraq for quite awhile ago. We’ve shown you many articles of how this is possible. Infancy is NOT the starting of the MR…it is in the stage that it is in right now… WALKING…taking it’s BABY STEPS…and soon…it will start WALKING VERY FAST! The speed will pick up just like we told you. BRILLIANT CALCULATED STEPS by Abadi and Trump! The East is done is Mosul…and 95% done on the West side of Mosul. Abadi said …I will announce to the world that Mosul is liberated at the Arab Summit. Abadi is under the US control…not like a puppet …we are a TEAM …Abadi is a TEAM PLAYER…and when he returns back to Iraq…GAMES ON!
BGG ~ This is complete B.S.
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BGG (Dinar Guru) – [Would changing the rate of the Dinar have any affect on their rampant corruption issues?] Just the opposite…them dealing with their corruption issues will help the world accept a higher rate for the Dinar. I am positive this is one of the items the IMF will be discussing shortly.
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Eat Well – Lose Weight!!
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Kaperoni (Dinar Guru) – Article: “Iraq on the brink of an ambitious program looming…” I am encouraged that we will see the beginnings of currency reform within the next few months. We can hope anyway.
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Loop (Dinar Guru) – [Would changing the rate of the Dinar have any affect on their rampant corruption issues?] IMO…They have a good handle on the corruption going on in the banking sector. While they still have work to do on this front they have systems in place to catch the crooks. So I do not see it has stopping them from a rate change at this point.
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Adam Montana (Dinar Guru) – There’s one name in particular that I’m happy to see in the news: Abadi. Anyone who’s been in this for more than a couple years has seen the amazing progress that’s come about since Maliki got the boot and Abadi came stomping in with the big boy pants on! The GOI was revamped, decluttered, and streamlined. Parliament picked up the pace and got a lot of things done that were simply not happening under the previous administration, and now: 1. Abadi confirms he’s planning on running for a second term. I see this as a shoe-in, no-brainer, it will happen, DONE. (Yes, we are going to hear some noise from the Maliki Camp, I say…ignore it). 2. Abadi is working hard towards full IMF and basically global support, and the fruits are coming. [post 1 of 2….stay tuned]
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Saudi King to Abadi: with restoring Iraq to turn in big area
King Salman bin Abdul Aziz, Saudi Arabia’s support for Iraq to restore its role in the region and strengthen relations with at all levels.
Abbadi’s Office said in a statement received Agency {news Euphrates} copy of it today, “Prime Minister Haidar Al-Abbadi met on the sidelines of the Summit Arabic King Salman bin Abdulaziz…
Read More: http://www.dinarupdates.com/blog/
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Adam Montana (Dinar Guru) – 3. “This week on Fox News Sunday: Haider al-Abadi, Prime Minister of Iraq, in an exclusive interview.” Get your popcorn out! Abadi on with Chris Wallace this weekend. Don’t expect a huge announcement from Abadi on the RV…this is just more proof that Iraq and the PTB are not going to stay where they are. The country is poised to make a leap, and we’re watching! Another thing I am paying close attention to in the news is Saudi Arabia… there is a LOT going on with that country right now. It’s a very complex situation, but the direction is tremendously good for us and for Iraq’s future as a very powerful and wealthy country. That might be one of the reasons why Saudi Arabia is taking these steps: “Saudi Arabia plans to cancel previous debt on Iraq” Bottom line…this is happening fast, and we’re just here for the ride. [post 2
of 2]
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MadDScout (Dinar Guru) – I know Abadi had a busy day today [Tuesday]. Abadi today met with : President Trump, V.President Pence, Secretary of State Rex Tillerson, Speaker of the House Paul Ryan and members of Congress, US Trade secretary Wilbur Ross, US Chamber of Commerce, along with delegations from GE and Boeing among others. This is a very good feel of how the new US President is working in a positive way with Iraq. [post 1 of 2….stay tuned]
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MadDScout (Dinar Guru) – Article: “Abadi discusses with US Trade Secretary lifting obstacles to investment companies” Quote: “Prime Minister Haider al-Abadi, during his visit to the United States, discussed with US Commerce Secretary Wilbur Ross the promotion of trade cooperation between the two countries.” This was a very good meeting from reports. I can not remember a one day event that produced so much positive for all sectors. It was like Abadi ran the table today. LOL …was a very positive day for us investors and for Iraq as a whole. [post 2 of 2]
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Electricity: the privatization of the energy will liberate citizens from private generators expenses
Ministry confirmed the electricity, that electricity investment project (the privatization of energy) will free citizen of the restrictions and expenses of amperage, generators and all the suffering of attrition.
Read more: http://www.dinarupdates.com/showthread.php?47764-Privatization-of-the-energy-will-liberate-citizens-from-private-generators-expenses
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Backdoc (Dinar Guru) Article: “Keywords announce start implementing the e-government project” VERY INTERESTING…WE GO FROM IMPLEMENTING THE DIGITAL E- DINAR ON FEBRUARY 8TH TO NOW GOING DIGITAL FOR GOVT. FUNCTIONS! YES, THE DIGITAL BLOCKCHAIN ADDS BETTER SECURITY, SPEED, AND EFFICIENCY! THIS WILL HELP PUT A HURT ON CORRUPTION!
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Adam Montana (Dinar Guru) – You’re probably also seeing a lot of positive news regarding ISIS, Mosul, etc on the “tube”. Or at least, you aren’t seeing so many negative news stories… and you know why that is, don’t you? It’s very simple – the media isn’t making a big deal about Iraq anymore because things are going REALLY GOOD, and those aren’t the stories that sell ads! …there is a LOT of progress happening right now with oil, agreements, and security. These are exactly what we want to see! We are getting to a point in this Iraqi Dinar situation that has me excited again, finally, and it’s been a long time since I felt this upbeat about the Dinar. We’ve been going in the “right way” for a long time, but now we are on a STRONG path to victory!
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Kaperoni (Dinar Guru) – Article quote: “in addition to the reform of the banking sector to support growth led by the private sector before starting the process of reconstruction in post – Daesh.” This seems to imply the banking sector reform is just around the corner…
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Tourism’s “economy News”: Iraqi antiquities need to pause
Economy News / special It demanded Tourism and Antiquities Authority necessity that there be a serious stand of Iraqi antiquities and make it an important tributary of the Iraqi tourism.
The general director of the tourist facilities in the Authority, Mahmoud al-Zubaidi (News of the economy), that Iraq holds a history spanning prehistoric and presence only gives economic footprint, pointing out that there is a move away from the development of tourism, particularly with regard to the Iraqi antiquities.
Read More: http://www.dinarupdates.com/blog/
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Aggiedad77 (Dinar Guru) – Article: “Iraq looking to raise obstacles to the entry of US companies to invest” IMO when Abadi talks here about “raising obstacles” he’s referring to a lessening of red tape for American companies and also a HUGE reduction in corruption issues that have kept many companies away in the past…He’s smiling because he knows who will pave the way for the success of his government as well as his country…and it will not be Iran…He’s got a new buddy in President Donald Trump and his administration…IMO look for Trump to be paying Iraq a visit this year…Frank [Guru Frank26] said that issues with investors has to do with Iraq’s restrictions on capital movement…as well as UN sanctions not being lifted, thus causing countries and investors to not want to go against the UN…Abadi has some definite changes he needs to make…that he can make…lift those restrictions…raise the value of your currency…get rid of the UN restrictions…IMO.
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Kaperoni (Dinar Guru) – […wondering if Trump can push for currency reform.] Currency reform is a consequence of economic and banking reform. …the IMF has made it very clear the dinar will be floated and will rise as a result of the growth of the economy. There is no confusion, it is stated clearly…the Balassa-Samuelson effect. ”Balassa–Samuelson implies that countries with rapidly expanding economies should tend to have more rapidly appreciating exchange rates.” In other words Iraq’s dinar is directly related to the growth of the private sector/market economy.
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Kaperoni (Dinar Guru) – Article: “International Monetary Fund agrees to release contractors’ receivables” Quote: “The appearance of Mohammed Saleh that the second review of the credit agreement showed a clear understanding and success…This success is the understanding and agreement on the release of receivables of all contractors amounting to more than 4 trillion dinars once the Federal Audit Bureau announced the completion of audit contracts contractors, and we know the SAI is about to complete this process.” So the IMF is going to pay almost $4 billion dollars to unpaid contractors in Iraq. This is huge.
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tman23 (Dinar Guru) – This week in Washington is the NATIONAL COALITION MEETING…THE FIRST WHERE ALL COUNTRIES WILL BE TOGETHER…68! …THIS IS ALL ABOUT IRAQ AND SYRIA AND SPECIFICALLY ISIS…
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Kaperoni (Dinar Guru) – Article: “Sabri: Iraq’s economy will rise over the next five years” ...this statement is in line with several of the CBI going back a few years that the deletion of zeros would take 4-5 years. Sounds to me like they expect a gradual appreciation of the currency as the economy grows. Anyone? Balassa-Samuelson effect…
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United Nations Secretary General: we hope to achieve a Government representing all communities in Iraq
United Nations Secretary General Antonio Gutiérrez, Wednesday, we hope to achieve a Government that represents all the components in Iraq.
He welcomed Guterres in his speech during the Arabic League Summit in Jordan, “progress in Mosul and Iraqi troops restored to lands of ISIS’s control.
Read More: http://www.dinarupdates.com/blog/
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tman23 (Dinar Guru) – …ABADI BEST COME BACK FROM WASHINGTON WITH AN ARSENAL OF GIFTS FOR THE CITIZENS… OTHERWISE/WITH ACCESS TO FUTURE INTERNATIONAL LOANS BEING LIMITED…TICK-TOCK…TICK TOCK.
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Kaperoni (Dinar Guru) – The IMF would never agree to accept Iraq into Article VIII if they cannot comply with the Article VIII requirements… That means they must show stability at 2% or less for 90 days prior to acceptance into Article VIII. I don’t see anyway around that. That being said, they could get off the peg without approval from the IMF.
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firefly (Dinar Guru) – Anybody that’s been in this investment for any period of time should know that a lot of negative news will pop it’s ugly head at the end. Just remember what Dr. Shabibi said at Jackson Hole back in 2011 when he was asked when he will do the currency adjustment. After thinking about the question for a bit of time he stated “AFTER MUCH MEDIA PROPAGANDA” This is not about us. Just be thankful we were given the opportunity to be a part of this investment. Timing is everything right now. One mistake in their calculations would be catastrophic. …the true rate will show on the CBI 1st.
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Abadi looking with two US firms electricity and airlines to develop
Economy News / Baghdad …Search Prime Minister Haidar al-Abbadi (who is visiting Washington for now), with two US firms to develop the electricity sector in Iraq and the Iraqi air lines.
Read More: http://www.dinarupdates.com/blog/
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firefly (Dinar Guru) – Historically all currency adjustments are made in the 1st quarter of the fiscal year. Kuwait and Zambia are good reference points. There is much going on behind the scenes that we are not aware of. I for one am extremely excited at where we sit today.
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Kaperoni (Dinar Guru) – Article: “Expert: Iraq is heading for a social market economy within the plan that will last until 2030” More importantly, currency reform must begin before they will ever have a market economy.
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Kaperoni (Dinar Guru) – Article: “Detection 3 “goals” Abadi seeks to achieve” Quote: “…three goals of Prime Minister Haider al-Abadi seeks to achieve with major countries (Germany, Britain, America), as he emphasized the lack of plans for more “lending”, attributing the reason to determine Iraq certain doors by donor countries…” To me, this says they better get to work..and soon… “there are no plans for further lending”.
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Deputy: Abadi visit to Washington made Iraq the Middle East equilibrium point
MP in parliament, Abdul Rahman Alloizi, on Thursday, Prime Minister Haider al-Abadi’s visit to Washington has created a kind of balance in the Middle East.
He Alloizi, L / balance News /, said that “al-Abadi’s visit to Washington came in the context, the fact that Iraq today is one of the closest allies of the United States.”
Read More: http://www.dinarupdates.com/blog/
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BGG (Dinar Guru) – Quote: “…Based on the preliminary findings of this mission, staff will prepare a report that, subject to management approval, will be presented to the IMF’s Executive Board for discussion and decision…” exactly what decisions do the IMF executive board have to make coming up? I mean – they only deal with one thing. INTERNATIONAL MONETARY FUND. […can the CBI make a move before the DC meetings?] the CBI can do whatever they want…if the IMF doesn’t give their blessing who are they gonna’ sell their currency to? without international acceptance – there is no market. [post 2 of 2]
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BGG (Dinar Guru) – Quote: “The Iraqi authorities and IMF staff started discussions on the second review of the SBA. These discussions will continue during the upcoming IMF and World Bank Spring Meetings from April 21–23, 2017 in Washington, DC.” This is saying these finalization talks were already started…and will resume – (at the latest) in D.C. Quote: “During the visit, the team met with the Acting Minister of Finance Prof. Abdulrazzaq A. Jaleel Essa, Acting Governor of the Central Bank of Iraq (CBI), Dr. Ali Mohsen Ismail Al-Allaq, the Financial Adviser to the Prime Minister Dr. Mudher Saleh, and officials from the ministries of finance, oil, planning, the State Oil Marketing Organization, the Central Statistical Office, the Central Bank of Iraq, and representatives from the Kurdistan Regional Government, and the Board of Supreme Audit. The team would like to thank the Iraqi authorities for their cooperation and the open and productive discussions.” Mohammed Saleh…he’s been in these big IMF “shindig” meetings from the 5th to the 17th… he’s excited. [post 1 of 2….stay tuned]
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Kaperoni (Dinar Guru) – Article: “Detection 3 “goals” Abadi seeks to achieve” Quote: “…three goals of Prime Minister Haider al-Abadi seeks to achieve with major countries (Germany, Britain, America), as he emphasized the lack of plans for more “lending”, attributing the reason to determine Iraq certain doors by donor countries…” To me, this says they better get to work..and soon… “there are no plans for further lending”.
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Iraqi Dinar/Dollar auction 03-30-17 (most recent listing)
Currency Auctions Announcement No. 3412
This daily currency auction was held in the Central Bank of Iraq on the 03-30-2017
The results were as follows:
| DETAILS | NOTES |
| Number of banks | 37 |
| Number of remittance companies | 11 |
| Amount sold at auction price (US$) | 159,075,819 |
| Amount purchased at Auction price (US$) | —– |
| Total offers for buying (US$) |
Read More: http://dinarupdates.com/blog/
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Revbo (Dinar Guru) – “Statement at the End of an IMF Mission on Iraq” Quote: “…repair the banking sector are needed to support private sector-led growth and diversification of the economy once post- ISIS reconstruction is underway.” [I really believe we will see currency reform begin soon after the country is rid of ISIL since it is so important to the success of a private sector/market economy.] If they don’t turn it loose shortly after Mosul is liberated, they will be wasting a golden opportunity and a ton of momentum for a growing economy and national reconciliation.
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Kaperoni (Dinar Guru) – “Statement at the End of an IMF Mission on Iraq” Quote: “…repair the banking sector are needed to support private sector-led growth and diversification of the economy once post- ISIS reconstruction is underway.” I really believe we will see currency reform begin soon after the country is rid of ISIL since it is so important to the success of a private sector/market economy.
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Revbo (Dinar Guru) – I don’t know if this means anything, but yesterday was the first time I’ve ever seen no street rate posted on the CBI’s auction page.
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Maliki’s wealth estimated at $40 bln: sources
Iraqi former PM Nouri al-Maliki’s wealth is estimated at $40 billion, informed sources told The Baghdad Post on Thursday.
The sources revealed the 67-year-old has made his wealth through manipulating the Iraqi Central Bank’s accounts as well as his suspicious projects inside and outside Iraq.
They also confirmed he took over the 2014 state budget without releasing concluding statements….
Read More: http://www.dinarupdates.com/blog/
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