Iraqi forces free 700 civilians in Mosul
Rapid Response Forces have freed more than 700 civilians who were held by ISIS terrorists in the district of al-Zanjili in Mosul.
The Iraqi forces are now controlling 60 percent of territories in Zanjili district.
This comes as the Iraqi forces have been pushing against the terror group of ISIS in the right bank of Mosul since February 19th with the aid of the US-led coalition.
Read more: http://www.dinarupdates.com/blog/
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Dinar Updates – “News Time” w/BGG & Company!! June 5th – 7:30 pm CST – In the DU Chat Room!!
www.DinarUpdates.com – save as favorite
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Tillerson Barzani telephone: Washington’s relations with the region and the ongoing support of the Peshmerga
Assured US Secretary of State, Rex Tillerson, said on Wednesday that US support for continuing the Peshmerga forces pointing out that his country ‘s relations are continuing with the Kurdistan region.
Tillerson ‘s remarks came during a telephone conversation with the President of the Kurdistan region, Massoud Barzani according to a statement issued by the Presidency of the Territory.
Read more: http://www.dinarupdates.com/blog/
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BGG (Dinar Guru) – Mosul is it… I have said all along…I would like to see what the news cycle looks like right after Mosul is done. I had some guy message me “why is Mosul taking so long“? They are dug in – they know they will die and have NOTHING TO LOSE…this may take just a bit..let’s all just take a breath and let this whole thing play out…and then… I also said – I want to get a feel for what the News Cycles look like after – for a week or two…this will be the tale of the tape. …sit back…and let them do their thing…and BTW – it’s not like they haven’t told us in so many ways – what they intend to do. They have – over and over and over and over.
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Paramilitary troops say crossing Iraqi borders requires parliament approval
The Shia-led paramilitary troops have said that crossing the Iraqi borders to other countries requires parliament approval in advance.
In press remarks, Ahmed al-Assadi, spokesperson of al-Hashd al-Shaabi (Popular Mobilization Units) said “armed troops either from army, al-Hashd al-Shaabi or the army’s elite Counter-Terrorism Service crossing the Iraqi borders requires voting by Iraqi parliament as constitution does not allow intervention in other countries’ affairs.”
He considered that “talks about this issue while the country is fighting and clearing the provinces from Islamic State is unreal.”
Read more: http://www.dinarupdates.com/blog
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BGG (Dinar Guru) – I had a VIP contact me…all these nutty projections about where oil will get to… not gonna’ happen. For a lot of reasons. This info comes direct from a M.E. oil producer. They don’t think oil will get above 50 – maybe ever again. I think the upside for us is – if Iraq has any inkling about this – they need to diversify and get their private market reformed and on a roll now. Which, obviously…starts with currency reform.
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MadDScout (Dinar Guru) – [So we can say that we are not in… Kick the Can down the road yet…waiting longer for the RV.] I don’t think anyone wants to kick the can down the road…I usually take it to mean procrastination…which I don’t think is happening… [I guess the question is, are we still fairly expectant?] Yes and it only takes watching the news to see it…One day they have to get their head around a concept then few days later we see adjustment…can’t ask for more…
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Kaperoni (Dinar Guru) – […is it better for Iraq to rebuild itself at the present rate or at a re- established rate?] …at this point and time, it does not matter what the exchange rate is regarding rebuilding…since the primary source of revenue is oil sales (95%) which is paid in dollars. And since the dinar is not globally convertible, Iraq pays for goods in dollars. So in that sense they are on the same playing field we are on in the US when we pay for goods. The real benefit comes when the CBI can begin to raise the value to offset inflationary pressure created by investors and investment along with meeting IMF Article VIII compliance. The result will eventually give the citizens a better life, greater purchasing power and most importantly the ability for the CBI to keep its dollars and pay in dinars.
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Abadi reveals a plan to secure the Iraqi-Syrian border
Baghdad Mawazine News Prime Minister, Commander-in-Chief of the Armed Forces, Haider al-Abadi, announced on Tuesday a plan under his supervision and coordination with the popular crowd to secure the border with Syria, stressing that the Iraqi forces managed to besiege “terrorism” and control of his movement, while promising not to keep any ” , Pointing out that terrorism will not be able to carry out terrorist attacks against Iraqis except with the presence of “Hawadn”.
Abadi called in his weekly press conference, and his follower / Mawazin News / political blocs to “commit to national unity and fight terrorism,” surprising statements that call for “emergency government”, pointing out that “the elections will be held in time,” stressing that ” Changing the constitutional timing “.
Read more: http://www.dinarupdates.com/blog
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BGG (Dinar Guru) – “Our economy is space. Monetary policy is an example” The…article is a VERY HARD translation – BUT IMHO FILLED with DEAD GIVE-AWAYS! …for those pouting about not being rich yet – this is one more log on the FIRE! What it means is – they are doing things (up until now) this economist doesn’t understand and can’t explain. Quotes: “…we urgently need a new economic philosophy that leads to generating development And to expand the supply and demand for local production in all its variants, especially in an important aspect of monetary policy is dealing with the value of the development of the dinar or the liberation of the value of the dinar...” “The liberalization or floating of the currency is not strange or innovative in the money market, it is a tool of the monetary policy…” BOOOOM…That’s all I have to say. That is a DIRECT narrative on the state of the currency value in Iraq. This was published yesterday. Cannot be anymore direct.
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UN envoy to Iraq: Liberation of Mosul imminent, ISIS days numbered
With the liberation of Mosul imminent, the international community must maintain a dual focus on defeating the remaining ISIS terrorists in Iraq, and on working towards post-conflict security and reconstruction, the United Nations envoy for Iraq Jan Kubis told the Security Council
Kubis went on to stress that the imminent defeat of ISIS must also provide an urgent impetus to address the needs of minorities, especially their ability to return to their homes
The return of all internally displaced persons to all liberated areas must be a top priority as should tackling increasing incidents of kidnapping and paying sustained attention to upcoming elections in 2017 and 2018
Read more: http://www.dinarupdates.com/blog
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tman23 (Dinar Guru) – Liberation is a matter of an announcement and appears Abadi wants to make a national announcement in regards to “the event” !!! As posted last week……Friday was new moon…….in the complete darkness the assault begins putting the enemy at a huge disadvantage……..we expected it to be done at the latest -Tuesday…Military commanders under Maliki’s hand like to upstage Abadi……….. The announcement from Abadi will show power and authority……..and hopefully he can offer Iraq a vision with something tangible……… So without a single doubt there is a timing strategy to the final announcement to Mosul….
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Kaperoni (Dinar Guru) – …we all know the dinar is pegged to the dollar… […wouldn’t Iraq have to/want to be in Article VIII compliance before they unpegged?] I can only speculate based on the IMF docs that I have read. But I would assume so…because the raising of the value of the dinar is directly related to investment in the market economy. And without Article VIII, there is no foreign investment. Remember, the key to this is the activation of the CBI’s Capital Account which is the pipeline of sorts for money flowing in and out of Iraq. Once in Article VIII, foreign investors/ investment will begin to participate in rebuilding and privatizing Iraq. Money will be deposited into bank accounts, flow through the CBI’s Capital Account and if the dinar is not pegged, will begin to move upwards to offset inflationary pressure created by the influx of economic activity (thus the Balassa-Samuelson effect)... There are no shortcuts. The CBI needs to get in compliance with the IMF so they can transition out of Article XIV. They need deposit insurance. Once that happens, we should see things begin to move fast.
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US to provide $106 million funding to improve services in Iraq
US administration will provide $106 million in funding for “Taqadum” project to improve local services in Iraq, US Embassy in Baghdad said on Tuesday.
In a press statement, the US Embassy in Iraq noted that Stefanie Williams, Deputy Chief of Mission at the US Embassy in Baghdad and Maria Longi, US Agency for International development (USAID)’s Acting Assistant Administrator of the Bureau for the Middle East, have attended a final workshop of the joint American-Iraqi project entitled “Taqadum”.
Read more: http://www.dinarupdates.com/blog
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Kaperoni (Dinar Guru) – Artile: “Experts: float the currency needs to be a productive economy and not Rieia (rentier)” Quote: “…to float the currency now in Iraq can not talk about that simple, as needed to advance measures…it could be done if the transformation of the Iraqi economy from a yield to productive…” This is actually a really good article because they state very clearly that under the current conditions they cannot float the dinar…and only once the market economy begins can they do so. So we continue to wait for Iraq to set the stage for investment. Pass the needed laws, get the dinar in compliance with the IMF, etc. to move to Article VIII. Only then will we see the dinar float and rise based on market forces. I am hopeful that yet this year we can see that happen.
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Breitling (Dinar Guru) – …these countries, they’re pulling their businesses together because they want western style bank accounts. It’s that simple. You have Iraq, Saudi Arabia and all these guys where the elite live like kings and everyone else is second rate citizens. And then they look at Dubai and Abu Dhabi and all these guys and they say, “how come we can’t have that? We’re doing the same thing. We’re following the same laws and worship the same God.”…they are going to put together a new economy. Guess what? You and I are right in the middle of it. Not only that but you can’t have access to the middle east unless you go through Iraq.
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“Eye of Iraq” publishes the final communiqué of the Arab-American Islamic Summit
The Arab summit held in Riyadh on Sunday called for building a close partnership between countries to confront “extremism and terrorism” and welcoming 34,000 troops as a reserve force to support operations against “terrorism” in Iraq and Syria.
“We must build a close partnership between the participating countries to confront extremism and terrorism, and the leaders reaffirm their countries’ firm commitment to fighting terrorism in all its forms,” the statement said.
It also included “an agreement among the participating countries to address the intellectual roots of terrorism and the drying up of its sources of funding, and to commend the exchange of information on foreign fighters and movements of terrorist organizations.”
Read more: http://www.dinarupdates.com/blog/
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In our unity, the land was liberated, our delight and our determination made miracles
Prime Minister Dr. Haidar al-Abadi said that the Iraqi people are creative people. Despite the destruction and the difficulties, he made achievements and the whole world is talking about him with admiration.
This came during the speech of his sovereignty at the conference (TEDEX Baghdad), which specializes in innovations and talents and successful experiences.
Read more: http://www.dinarupdates.com/blog
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BGG (Dinar Guru) – [Is it looking very possible for the RV before Ramadon IYHO?] …doesn’t really matter that much about Ramadan. Ramadan is not a point of demarcation…
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tman23 (Dinar Guru) – …The United Nations Security Council is set to hold a session about the situation of Iraq on Monday, May 22, 2017 at 3 p.m. New York time (10 p.m. Baghdad time).
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Aggiedad77 (Dinar Guru) – What has my interest at an all time high at the moment is not what is being seen by the public at these meetings in Saudi Arabia…but what meetings are going on that we hear nothing about…that IMO is where the real “DEALS” are and will be made…where the hand shakes truly mean something more than a photo op…And keep in mind…when Iraq meets in the US and they go back home…historically they have fires lit under them…well they may be in SA now…but still the primary cast for this meeting of heads of countries is Donald Trump…the US President…I’m looking for fires to be turned up even higher than ever with Iraq and their powerhitters when they get back home…time will tell on that…And don’t forget McGork’s trip…he wasn’t there for nothing…he got something…something was delivered…and IMO it is all GOOD…even if we the peons can’t see it yet…I just know deep down…the BEST is coming…
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Central Bank: We are working with 50 banks on the establishment of the Development and Investment Fund
Confirmed the Governor of Bank Central, Ali Keywords, Wednesday that the bank ‘s central working with 50 banks to set up fund development and investment for the granting of loans to citizens
Said Keywords in an interview during the seminar , which held the bank’s central on projects financing smaller ” attended by ” Economy News ” , that the bank ‘s central working hard now with banks to set up fund development and investment from through the development framework General Fund, which aims to revitalize the economy through the granting of loans citizens as well as bring companies world referring to the 50 banks will be involved the establishment of the fund and each bank shares with 10 million dollars for a period of four years to become the capital of the fund 2 billion dollars.
Read more: http://www.dinarupdates.com/blog/
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Updated: Paramilitary troops free airbase, more villages, west of Mosul
Mosul (IraqiNews.com) The paramilitary troops have freed Washington military airbase, west of Mosul, according to Sami al-Massoudi, a leader with the troops.
In statements, al-Hashd al-Shaabi (Popular Mobilization Units) said “the 13th and 14th brigades liberated Sahl Sinjar Airbase, a strategic airport in south of Qairawan.”
Troops also liberated al-Amdina village, in the south, in addition to Karka village, the troops media service said.
“200 families from Mesei’da village, in the vicinity of Sahl Sinjar Airbase, were evacuated far from the battlefields.” the service added.
Earlier on Thursday, the troop freed six villages in north and south of Qairawan, in the west of Mosul.
Read more: http://www.dinarupdates.com/blog
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Adam Montana (Dinar Guru) – I’m watching this OPEC situation like a HAWK… this is getting serious! We all view the word “soon” with a bit of disdain, but it’s starting to taste a little better every day. This rolled across my desk bright and early this morning: “Optimism ahead of OPEC meeting drives U.S. crude oil back above $50” But the real reason for this post is to clarify the next OPEC meeting date. I was mistaken earlier this week, the meeting is not on the 27th… it’s on the 25th. Ramadan starts on the 26th. Could the 25th or 26th be our day? It’s possible, if Iraq is given a clear exemption from the OPEC oil production deal (the same deal that Russia and Saudi Arabia have already agreed to).
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BGG (Dinar Guru) – I am very excited about the current state of things. I am very excited about the next short time frame… I think we are in an incredible window of time right now…and I do feel – if things advance as they have been – we could be very, very close. Maybe not today or tomorrow, but legitimately CLOSE. Unlike ever before. (keep in mind – we have been close before – the CBI had planned on 2013? sometime and put it off). According to the SIGR Report. We are close. REAL CLOSE.
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MadDScout (Dinar Guru) – Article quotes: “…Saleh, financial adviser to the Prime Minister has proposed the establishment of a bank to finance the trade of the private sector contribution of commercial banks…” “Abdul Basset Turki stressed that the continued clinging to resolve the economic crisis through Iraq through borrowing and reducing public spending without changing the exchange rate of the Iraqi dinar in securing revenues to cover the current spending of the state will quickly lead to further economic recession and erosion of foreign assets, especially the reserve of the Central Bank of Iraq.” Both Saleh and Turki laid out some very coherent guidelines. It will take wisdom and the “want” to do it. Not all these suggestions are going to be easy but are how market economies work. [Do you think it will happen soon after Mosul?] I like to believe so. They have a very good opportunity right now as stated…the time may not always be such.
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Iraqi forces retake Rawshan area in western Mosul: command
The Iraqi command said Friday that government forces recaptured an area in western Mosul as they advanced near the last Islamic State strongholds in the region.
The Joint Operations Command said the army’s elite Counter-Terrorism Service recaptured the Rawshan area in northwestern Mosul, raising Iraqi flags at the area.
The development comes as Iraqi forces moved through a new front of operations targeting the IS-held, strategic Old City, having besieged the area futilely for weeks.
Read more: http://www.dinarupdates.com/blog/
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Adam Montana (Dinar Guru) It should be noted, and kept in mind, that Ramadan this year starts on the evening of Friday May 26 and goes through Sunday June 25. That’s 9 days from now. Those of you that have been traveling this road with me for years know that I have always been VERY adamant that “nothing gets done during Ramadan”… but I’m starting to lean a little to the left on that commitment. There is just TOO MUCH happening right now! There are a couple key elements to this…that will make me go “Full Buzzy” in spite of the upcoming holiday that traditionally yields 0 “real” progress for anything in Iraq. For some months now, I’ve been very optimistic about Iraq’s ISIS situation. Over the last few days, thi -s has only increased. [post 1 of 2….stay tuned]
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Adam Montana (Dinar Guru) – Examples: Major news announcements: “FROM IRAQI TV: PM ABADI: INVESTMENT DOORS OPEN TO INTERNATIONAL COMPANIES” “Abadi: Investment doors open to international companies” “Four new camps in Mosul to accommodate the newly displaced” “The Minister of Displacement and Migration Jasim Mohammed Al-Jaf announced on Sunday the return of 122,137 internally…” …the evolution of tone and events is very encouraging! “Abadi chairs a meeting of the Ministerial Committee on Energy and take a range of measures” Oil and Energy continue to make progress, FINALLY! This is the exact area where we were stagnant last year. This year is different – the consistency of these articles lately is a telling sign. “The Ministry of Commerce promises Iraqis Surprise in the month of Ramadan May 13, 2017” New ration cards to be issued next week. Could these be tied into the upcoming changes in the entire Iraqi banking system, which will ultimately incorporate new currency, ATMs, and a new rate? It’s a possible “gateway” move. For once, I actually agree that something might get done during Ramadan. *shock* *GASP!* [post 2 of 2]
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tman23 (Dinar Guru) – Everyone is hopeful…We can only wait and see what announcement comes out on Friday the 26th… and what shows 3/29…
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Trump’s Announcement of the Kurdish-Centric Plan to Take Raqqa
Fighters from the Syrian Democratic Forces (SDF) use binoculars from a view point overlooking a northern Syrian town held by ISIS. Photo: AFP
On May 9th, the Trump administration made public its plan to provide the Kurdish-led Syrian Democratic Forces (SDF) with substantial heavy weaponry. The announcement signals Washington’s decision to rely on the SDF, which is dominated by the Kurdish Democratic Union Party (PYD), for the operation to liberate Raqqa from Islamic State (ISIS) control.
Read more: http://www.dinarupdates.com/blog
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Fight to retake Mosul in ‘final stages,’ US envoy says
HAMAM AL-ALIL, IRAQ — The fight to retake Mosul from the Islamic State group is approaching its “final stages,” a senior U.S. official said Monday.
Brett McGurk, special presidential envoy for the global coalition against the IS, said Iraqi forces are “completely defeating” IS in one of the most difficult urban battles since World War II. But local Iraqi officials say they will need more funding from the U.S. and others in the international community to rebuild in territory recently retaken from the extremists.
McGurk spoke to The Associated Press from a water treatment plant south of Mosul where Iraqi forces closely backed by the U.S.-led coalition are slowly closing in on the remaining cluster of IS-held neighborhoods in the city’s west.
Read more: http://www.dinarupdates.com/blog/
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tman23 (Dinar Guru) – [when is Ramadan again?] May 29th. Quite frankly I look forward to see May 29th – June 1st… Kuwait introduced and released their 6th series new edition [currency] on the first day of Ramadan back in 2014… So the point I made to the past that nothing happens through Ramadan is completely false…And the second point I made for everyone was…on 4/19/2015… Kuwait Central Bank passed a resolution that the 5th series that was in circulation would Now/Then have to be exchanged directly at the Central Bank …and would be good for exchange for a period of 10 years…
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BGG (Dinar Guru) – Iraqi Day…(not a terrible news source)… tweeted this… #ISIS CALIPHATE HAS ENDED. #Iraq forces storm 4 districts in #Mosul today & gains are incredible, only 2 districts left under ISIS control. “gains are INCREDIBLE”… Earlier today [Sunday] the Fox News Ticker said that Iraqi Spec Ops and U.S. backed-Commandos had breached the final line of defense and fortifications held by ISIS in Mosul. They could actually have Mosul completely liberated by tomorrow [Monday] (if they make the same gains as today). Not that I am saying that – or predicting it… I am just putting some context on things. I care greatly about the actual fruition of our investment.
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Phillyman (Dinar Guru) – Article: “Abadi, Sadr near alliance as Maliki renounces majority governance” Quote: “Iraqi Prime Minister Haider al-Abadi is nearing an “electoral alliance” with influential Shia religious and political leader Muqtada al-Sadr in a bid to isolate former PM and premiership hopeful Nouri al-Maliki, according to a newspaper.” Could this finally be the tipping point to change the course of Iraqi politics away from Maliki?
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Mosul battle will be finished within days – Iraqi army chief
Iraqi security forces are only days away from completing the operation to recapture Mosul from ISIS, the BBC quoted army’s chief of staff as saying on Friday.
Lt Gen Othman al-Ghanimi said he hoped the group would be defeated in the city before the Islamic holy month of Ramadan begins on 26 May.
Recent gains in the north meant the remaining militants were being squeezed into an ever smaller area, he added.
Read more: http://www.dinarupdates.com/blog
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“FaceBook LIVE” w/Call-in from Sunday w/BGG
Click here for Video Replay (4/23)
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tman23 (Dinar Guru) – Since it appears to be a matter of fact that Kurdistan will hold a referendum come late October early November… Since previous articles from past years pushed/delayed the lifting of 3 zeros from the first of the year to June… IF WE ARE CLOSE TO SEEING A CHANGE IN THE CURRENCY… AND SINCE IT WAS SAID TO HAPPEN THE BEGINNING OF 2017…IT IS LOGICAL TO LOOK FORWARD TO MAY 29TH TO JUNE 1ST…AND IT IS LOGICAL TO ASSUME THAT IF IT DOES NOT HAPPEN JUNE…IT MAY WAIT FOR THE KURD REFERENDUM AND HELLO 2018! BUT…Since Baghdad would like to keep Kurds interested in a united Iraq…I would think an added value to their currency would lean the scales in that direction…UNITED.
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G-Lin (Dinar Guru) – Article: “ATMs for MasterCard card users” Quote: “the project will be completed within the next few years after the final approvals of the implementation conditions have been completed legally” I’m not too concerned about that 3 year mention. This art. is a very encouraging one. It looks as though Iraq has already accomplished huge things in the banking industry. We are right in the middle of Iraq going digital. E money. And IMO those ATM’s will not slow things down one bit. They apparently have already connected to international banks. That is huge. I think the majorities of salaries are being paid on smart cards and that will encourage the peeps to warm up to banks and bring in those 3 0’s notes. Once they pull in the liquidity under the mattresses I think they will bring out the LD’s. I don’t know when that will be of course, but they seem to be on a fast track currently. At least in the banking industry. And that is exactly what IMF has told them repeatedly to do. Finally they are complying.
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Phillyman (Dinar Guru) – Article: “International Development Bank (IDB) is granted a membership license to MasterCard International” Quote: “The International Development Bank (IDB) on Thursday held the signing ceremony for the contract for the granting of a basic membership license to MasterCard International in Baghdad.” I wish the time table wasn’t as stated “the project will be completed within the next few years after the final approvals of the implementation conditions have been completed legally” but it certainly is a huge step in the direction of a nation trying to make great strides in their economy. It would also be nice when electricity is running 24/7 to keep those ATMs on.
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Kaperoni (Dinar Guru) – Article: “ATMs for MasterCard card users” Quote: “The Ministry of Communications coordinated the establishment of ATM for users of the card (master card) through its outlets in post offices in Baghdad and the provinces.” IMO, these types are articles only tell us currency reform is coming sooner than later.
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BGG (Dinar Guru) – Article: “Iraq offers compensation settlement and Kuwaiti debt against investment” Quote: “…the meeting also discussed the file of compensation with the State of Kuwait and ways to settle through the window of investment inside Iraq.“. two separate items talked about – how to pay back Kuwait (not to be confused with) – their eagerness to settle investments inside Iraq? One of the big problems needing dealt with – is they have few mechanisms in place to safe guard investors. Why would the IMF care about Iraqi investors. They don’t – this is referring to OUTSIDE investors. Period. Really good news – entering final talks – it appears.
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Kaperoni (Dinar Guru) – Article: “ATMs for MasterCard card users” …it is fun to watch all the pieces be put in place for the economy to take off. Iraq is literally going from the stone age to the 21st century with technology in a few years.
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Security forces foil IS attack on military checkpoint in Hama, destroy vehicles in Wadi Uzaib
Hama (SyriaNews.media) Syrian Arab Army forces, on Wednesday, destroyed two vehicles belonging to the Islamic State group in Wadi al-Uzaib area, while foiled an attack on military checkpoints, in eastern Hama, a source told the Syrian News Agency.
The source said that an army battalion engaged in clashes with the Islamic State militants that attacked military checkpoints, in Salmeya area, in eastern Hama.
Read more: http://dinarupdates.com/blog/
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Adam Montana (Dinar Guru) – [What will happen to the other major currencies when the CBI RV’s the IQD/USD exchange rate? The countries using the EUR, the GBP, the CHF, the JPY, and the CNY all have international corporations invested in Iraqi oil with contracts based on today’s exchange rates. How will a radical upward IQD/USD RV (which effectively decreases the value of the USD against the IQD) affect the EUR/USD and the GBP/USD and the CHF/USD and the JPY/USD and the CNY/USD exchange rates? Will these other major global currencies also be devalued and what in your opinion will that do to an already stressed global economy?] This is a great question, because it opens up the floor to discuss how an RV is really a zero-sum game, mostly because we are talking about a fiat currency. When the FED prints more USD, we don’t actually gain that money. It just dilutes the dollar a little bit more. IQD, and an RV of the currency, works the same way, just on a global scale. My opinion is that almost every other currency will take a slight hit, and then rebound once the IQD rate stabilizes, and within about a month all currencies will be back to normal… except the IQD will be dramatically different than it was a month prior.
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Kaperoni (Dinar Guru) – …Iraq is doing what is asked of them by the IMF and WB (though 3-6 months late) to prepare the banking system for international integration with the financial system. Iraq needed to make these changes, along with several others (including reducing the spread) to set the stage for acceptance into IMF Article VIII. Remember the goal here as stated in the SBA is to accept Article VIII to “create a favorable business climate” for investment. Accepting Article VIII will give freedom of movement of capital in and out of Iraq (so investors can get profits out), make the dinar convertible worldwide through the banking system, and most importantly allow the CBI to stop the daily auctions and let the market and world set the value for the dinar (they will stop the peg). This is all about creating the conditions for a market economy.
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Daz (Dinar Guru) – [We thought it was the US or Iraq holding it up, turns out the WB had to approve their readiness.] …big difference between a “hold up” and a required “alignment of interests” WHEN A SATISFACTORY CONDITION AND ALIGNMENT OF ALL THE VARIOUS INTERESTS AND POWER STRUCTURES HAVE REACHED A POINT OF REASONABLE SATISFACTION THAT THEIR INTERESTS AND GOALS ARE MET… THEY WILL JUST AS SIMPLY… “TURN THE MONEY BACK ON”.
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Frank26 (Dinar Guru) – Let me now go in the direction of…an article from an economist…this economist…is actually an advisor and goes to many of the seminars and meetings…and he knows the CBI plan…so his opinion about what they are doing with their Exchange Rate...how they need to INSTALL it as the article says…is strong confirmation IMO of what he is saying because it is in accord with the CBI, IMF, WB plans or projects…which is to lift the Exchange Rate…This article itself is also pointing to the investors of Iraq…we are lifting the restrictions on the Exchange Rate…we are liberating the Exchange Rate from a Program Rate…because Mosul is not an issue anymore…and I believe they have gone from the concept of liberating Mosul to the liberation of the Program Rate…so the investors can come in and rebuild through the infrastructure of Iraq…all of a sudden it looks like they put the locomotive engine of the Monetary Reform back on track…
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Kaperoni (Dinar Guru) – Article: “Central: The reality of the Iraqi economy makes it imperative to develop financial operations” Quote: “indicating that the deposit guarantee law is the cornerstone of this topic and its application is true to move liquidity in the right direction and transfer to the banking sector , which Ciozvha in the national economy first . The estimated volume of liquidity in Iraq to 47 trillion Iraqi dinars in homes around hoarding 70 percent of this amount , according to indicators of specialized centers and finance experts. ” I see Iraq a crossroads, they need to get these things done now so the CBI can get the banking system open to the world for foreign investment. No time to waste and they have been talking about a private sector way to long.
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BGG (Dinar Guru) – […looking at the past , we know IQD was at $3+ at one time. the Kuwait dinar is over 3+ now. I would think at sometime in the future they would want to be at least even with Kuwait, an ego thing…] We are welcome to think that – but… when presenting factual news and commentary … best to stick with facts and print in INK. $3 is NOWHERE in sight. will it happen? Who knows?
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tman23 (Dinar Guru) – …Revaluation (Definition): A calculated adjustment to a country’s official exchange rate relative to a chosen baseline. The baseline can be anything from wage rates to the price of gold to a foreign currency. In a fixed exchange rate regime, only a decision by a country’s government (i.e. central bank) can alter the official value of the currency. Re-denomination has nothing to do with Re-valuation. When a currency is redenominated the central bank of that country will reissue notes at a decided ratio for both speculators and its citizens. For ex., If you have a 1000 INR note and Reserve Bank of India (RBI) redenominated at a ratio 1:10 then RBI will take your old 1000 INR note and issue you new 100 INR whose value stays the same. The net value of old 1000 INR will be same as new 100 INR. [post 1 of 2….stay tuned]
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BGG (Dinar Guru) – Second half of the answer…Who – in Iraq ever said anything DIRECTLY about $3? …all of the foundational documents we have uncovered and are using as our basis for research seem to indicate something around $1…SIGR report…Iraq MOP studies…recent interviews with CBI Officials…I haven’t verified $3 ONE TIME – NOT ONCE…in fact, it seems clear they intend to get to $1 – but how exactly they intend to do that – we are not sure of… NOR CAN WE BE. Relax and enjoy the show – YOU’VE GOT A TICKET TO RIDE! [post 3 of 3]
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BGG (Dinar Guru) – …the only reason they have to worry about what is outside of Iraq is they might have to redeem it in some way. The CBI has been sensitive to this issue for some time… and the IMF – UN – WB have had an eye on it as well…the Dinar that is INSIDE Iraq is still going to be worth a Dinar. Nothing changes on that front – they just get more for it. It’s not costing the CBI a DIME!! …a Dinar is still worth a Dinar – post RV. Iraqis are not going to be POURING INTO BANKS to exchange their Dinar for some other foreign currency… why would they? [post 2 of 3….stay tuned]
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BGG (Dinar Guru) – …a friend calls me this week…has a couple of questions for me to answer. How can Iraq, if they have 25 Trillion Dinar outstanding – ever RV at a $3 dollar rate and pay for it? Isn’t that like 75 Trillion Dollars? First, we have NO IDEA what the real outstanding number is – OUTSIDE OF IRAQ. That is the key number…there is NO RELIABLE INFO on this… even the CBI’s internal people can only estimate… and they don’t think it is that much. Could be as low as 3 Trillion – maybe less now…So – the real lesson is not to base complex analysis on wide gaps in actual information. The 25 Trillion number is likely a flawed assumption… AND if they get “international support and acceptance” – that 3-6 Trillion could even get held in various Treasuries as “Foreign currency reserves” – JUST LIKE the IRAQ CENTRAL BANK DOES WITH OTHERS. [post 1 of 3….stay tuned]
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Kaperoni (Dinar Guru) – Article: “Achieving the objectives of monetary policy requirements until the year 2020” Quote: “It is important to activate the monetary policy to support the private banking system and review the policies of lending and mechanisms of credit risk management in the granting of credit to small and medium investment and loans in productivity and investment sectors that achieve cash flow clear and revive the economic cycle will contribute to the economic development and diversification of the financial resources of the general budget.” They are dead in the water without taking the next step with the dinar…so we wait.
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Aggiedad77 (Dinar Guru) – […you think Dr. S [Shabibi] would show up when Trump decides to go and congratulate A [Abadi]? It would be a great day to see the 3 of them make the announcement all together. Correct me if I’m wrong but if we don’t get an announcement before Ramadan it will be more than likely after and would be a great gift to the country.] It’s been said before that Dr. Shabibi is enjoying his retirement in Switzerland…don’t look for him to come back…he knows his country is in good hands…with Abadi and Allak. As for Ramadan…who truly knows…I just know…I have a feeling…with money that has been moved…vast amounts of it…with changes in prices that we’ve witnessed…with the changes in salary payments that we’ve seen…something IMO needs to happen…and by all rights it should happen well before Ramadan.
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MadDScout (Dinar Guru) – Article: “Minister-Iraq-Welcomes-Joint-Ventures-with-Iranian-Companies” Whether we like it or not Iran and Iraq have a business relationship…this can only be good for Iraq to be on good relations with it’s neighbors and to work on those common ties. [Maybe the saying, Keep your enemies closer than your friends is in play here?] Could very well be part of the logic.
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Enorrste (Dinar Guru) – Article: “Vice: oversees the United Nations five-year plan for economic development in Iraq” i agree with KAP [Guru Kaperoni…reference post 5-2-2017] that the IMF is what she is referring to. This confirms and ties into what we have known for some time, namely that the IMF is controlling the plans for change at this point. Furthermore, they are on record that they intend to “bring Iraq into the world market” sometime in the first half of this year. If they are on schedule then we should expect some significant changes within the next 60 days. Of course this is Iraq, and even with the control in the hands of he IMF, it is anyone’s guess how long it will take to get to the float.
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Iraq, US in talks to keep American troop presence after IS
Prime Minister Haider al-Abadi is in talks with the Trump administration to keep American troops in Iraq after the fight against the Islamic State group in the country is concluded, according to a U.S. official and an official from the Iraqi government.
Both officials underlined that the discussions are ongoing and that nothing is finalized.
But the talks point to a consensus by both governments that, in contrast to the U.S. withdrawal in 2011, a longer-term presence of American troops in Iraq is needed to ensure that an insurgency does not bubble up again once the militants are driven out.
Read more: http://dinarupdates.com/blog/
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1bobby (Dinar Guru) – Article: “Iraq Launches project to reform and modernize the State’s financial management systems” [Does this, you think, include smart cards for the Iraqi population?] The smart cards are becoming a mainstay/reality in Iraq on a daily basis. I think we saw 10 more Ministries going to the smart card as far as salary/payroll. The more e dinar we see, the better off we are.
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MadDScout (Dinar Guru) – Article: “Baghdad – Journal News The parliamentary finance committee confirmed that the World Bank’s step in reforming the financial system in Iraq is an important step in supporting investment in the country.” I am thinking this is their confirmation that they are taking the advice of World Bank and moving forward on reforms.
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Kaperoni (Dinar Guru) – Article: “Parliamentary Finance: World Bank pursues tough policies with Iraq” Quote: “The World Bank’s move to reform the financial system in Iraq is an important step in supporting the country’s investment, the parliamentary finance committee said on Thursday.” As I have stated over and over, the banking system is the key. You cannot have private investment if you cannot get your profits out of Iraq. So they are now being held to the fire to get it open to the world (ie electronic banking, reduced corruption, IMF compliance, Article VIII, etc) so investors will come and develop the private sector.
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UN official: Iraq’s experience in a unique global community reconciliation deserve transfer
Branded UN Mission Coordinator for Humanitarian Affairs in Iraq, Lisa Grande, experience community reconciliation in Iraq as “unique”.
Grande said a statement to the Cabinet Secretariat said all Iraq [where] a copy of it, during the meeting the Secretary General Mehdi relationship that “Iraq’s experience and what has been achieved is a unique experience worth to transfer as experience in meeting the challenges in community reconciliation in conflict areas in the world.”
Read more: http://dinarupdates.com/blog/
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This is the date of declaration of the full liberation of Mosul
This is the date of declaration of the full liberation of Mosul Ayman.
The Ninewa Operations Command revealed today that the announcement of the liberation of the entire right coast of Mosul will be announced in a few days.
“A few hours apart the security forces from breaking into the remaining neighborhoods in the western axis and penetrating the central axis of Mosul to save civilians held by a terrorist in the areas under their control,” the commander of Nineveh operations, Maj. Gen. Najem Jubouri, said in a statement that ” Which arrived in the village of Hleileh and stationed with the forces of the anti-terrorism in the western axis will launch operations during the hours of the liberation of the areas of Musriva and Riffi and Tmuz and carpenter and remaining neighborhoods in the western axis
Read more: http://dinarupdates.com/blog/
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Kaperoni (Dinar Guru) – Article: “Abadi: We need to strengthen the economy and the protection of the national industrial and agricultural product…” Quote: “…we want to increase Iraq ‘s exports of many materials and we want to give Iraqi concessions for industrialists who can to issue so that there is not only a departure from the currency but the currency intervention and a trade exchange between Iraq and states on one level this is important in activating the work…” …Abadi is telling the public they are trying to “create the conditions” so investors and investment comes to Iraq. Only then can they move off the peg and let the world decide what the dinar is worth. These kinds of articles to me are very reassuring.
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Kaperoni (Dinar Guru) – Article: “Vice: oversees the United Nations five-year plan for economic development in Iraq” Quote: “this time is different from its predecessors, because the United Nations oversees this plan and has allocated a large sum for her, that’s why we think the success of this plan.” UN means the IMF and World Bank. We should be excited.
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Kaperoni (Dinar Guru) – Article: “Abadi: We prepare for the announcement of the great victory” Quote: “According to a statement to the Office of the Prime Media Minister, Abadi said, in his speech , a festival of national unity , which was held under the slogan ( the great victory on our way towards peace): «We are gearing up to announce a great victory, the biggest priority of peace...” Let’s hope so.
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A Dinar Round Table Call!!
“with the whole DU Crew”
from Thurs nite – Apr 27th
Click-N-Listen!!
Smart phone user link – Click here
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BGG (Dinar Guru) – “Would BGG please give us the true meaning of the deletion of the zeroes project“?] The “Delete the Zeros” project – (we believe) is part of the currency reform project in Iraq. Most notably the process of raising the value of the Dinar and then removing the larger “3 zero” notes from the market…they don’t want people sitting on those big notes – they want them out, where they can easily retract them from the marketplace.
What about the subject of the deletion of zeros and the reason for the delay?
1) Security – control of the state (ie; Mosul)… CERTAINLY PREVENTS THE IMPLEMENTATION OF THE PROJECT.
2) When it is DONE – it must be “…done in coordination with all state departments and the private sector…” Here’s the DOOZY folks… [post 1 of 2….stay tuned]
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BGG (Dinar Guru) – 3) “…where it should be followed by changing the paragraphs contained in the various laws…” MEANING – ONCE THE VALUE CHANGES THEY HAVE TO GET A FEW THINGS CHANGED TO SUIT THE VALUE.
THEY JUST TOLD YOU THE ORDER OF THINGS.
4) “…must also change the financial and statistical records in order to conform with the project process the deletion of zeros…” This bit ALSO INFERS A VALUE CHANGE AS THE PRECURSOR TO REMOVING THE NOTES AND THE REST OF THE PROJECT…here’s another ZINGER…
5) “…On the other hand, the technical preparations are (already) underway by us…” – WHAAAAAAATTTT?? THEY ARE ALREADY GETTING THE TECHNICAL STUFF UNDERWAY. THEY MUST THINK WE ARE CLOSE? This is the ACTUAL CBI talking. [post 2 of 2]
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Backdoc (Dinar Guru) – AS I RECALL, ONE ARTICLE MENTIONED THAT MOSUL WOULD BE ANNOUNCED ON OR BEFORE THE 30 th. EVEN THOUGH WE SAW ARTICLES ABOUT THE SAT. POSSIBILITY, I THINK …THAT TODAY’S ARTICLE IS SIMPLY A POWERFUL TEASE FOR WHAT’S COMING. I WOULDN’T BE SURPRISED TO SEE A RATE CHANGE JUST IN TIME BEFORE FRIDAY THE 5th. OF COURSE THAT GIVES THEM A TUES. WED. THURS. WINDOW. MANY OF US REMEMBER OVER TWO YEARS AGO THE U.S. TREASURY DEPT. CHANGED THEIR INTERNAL RULES SO THAT THEY COULD PAY BILLS WITH FOREIGN CURRENCIES. NOW WOULDN’T THAT BE MORE THAN CONVENIENT FOR A TIME LIKE THIS? IMO.
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Iraqi Government support to discuss security and rebuilding infrastructure
Foreign Minister Ibrahim Al-Jaafari, with the head of the National Alliance, Ammar al-Hakim, Tuesday, to support the Government in achieving security and reconstruction of liberated cities infrastructure.
Jaafari’s Office said in a statement/balance of news copy, “the Foreign Minister Ibrahim Al-Jaafari, received in his Office today, the Iraqi National Alliance President Ammar al-Hakim.
The Office said, “the meeting discussed the soul pain highlights Iraq scene, strong political efforts to save national unity, support the security forces in the fight against terrorism.”
Read more: http://dinarupdates.com/blog/
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Baghdad pledges to provide a suitable environment for investment
Baghdad Province, announced Saturday, pledged to provide a suitable environment for investment and the transfer of powers to sustain during the next stage.
Governor of Baghdad, the statement said Atwan, settle their suspended problems/balance of news copy, to “settle their suspended problems attended the meeting of the supreme body for coordination between the provinces, chaired by Prime Minister Haider Abadi, attended by heads of provincial governors and representatives of some ministries.
Read more: http://www.dinarupdates.com/blog
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Frank26 (Dinar Guru) – Article: “Planning Minister emphasizes the need to prepare a new development plan for the post “Daesh” So does the CBI with the Lifting of The Three Zero’s …POST DAESH …
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tman23 (Dinar Guru) – …Thursday…Confirmed…Cargo planes are now allowed to land in Kurdistan Region’s airports and deliver shipments…Means security is under control… Baghdad and Kurdistan cooperating… We seen Banking follow the CBI exchange…and now cargo direct…
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Kaperoni (Dinar Guru) – Article: “Baghdad embraces a global financial conference next month” Quote: “Iraq is in dire need to reduce the gap between the Iraqi and international banks, and after the association adopted a training program periodically targeting workers in banks , public and private sectors , and managed to create efficiencies able to advanced systems management, pointing that banking technology conference complements these efforts.” That’s 3-4 banking conferences from April to May.
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Kaperoni (Dinar Guru) – Article: “Central Bank: No distinction between foreign and Iraqi banks and currency auction” Quote: “…the existence of discrimination to deal for the Central Bank of Iraq between banks operating in Iraq, whether foreign or Iraqi, but on the basis of classification because they are part of the Iraqi banking system.” This is an important statement for the CBI to make… this is a requirement of Article VIII (and it has been referred to several times in the consultations) to not only liberalize the foreign exchange, but make it available at any and all banks. A good step to show the IMF the CBI is trying to comply.
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The most prominent Council of Ministers’ decisions today
The cabinet held its regular meeting on Tuesday , April 25, 2017 , headed by Dr. Haider al – Abadi.
During the meeting , informed the Council of Ministers on the progress of the battle to liberate the right side of Nineveh in addition to the report on the preparation of the displaced and the measures taken to provide services to them.
The Cabinet also discussed the Turkish air strike , where the Council of Ministers condemned the Turkish air attack on Iraqi territory in the Sinjar area, which caused the occurrence of Iraqi victims and represent a serious violation of Iraqi sovereignty is incompatible with the provisions of international law and the principles of good neighborliness.
Read more: http://dinarupdates.com/blog/
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BGG (Dinar Guru) – […I can’t help but feel like we’re starting to go backwards…] How is it possible to imagine we are going backwards? Mosul is nearly liberated…all the of the world financial powers are taking note of Iraq…they all want to support the re-engagement of Iraq with the world financial communities…none of that can happen at their current rate…it’s an artificially low value. Obviously Abadi and Alak were very positive about the early part of 2017 – but that assumed the speedy removal of ISIS and some political stability…things change – just gives us more of a sense of their direction. …if we’ve ever been in a legitimate “window”, we seem to be heading into one now.
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Kaperoni (Dinar Guru) – Article: “World Bank of Iraq: Economic reforms need to get to the head of an integrated financial system” Quote: “…the World Bank representatives have indicated that economic reforms represent the need to get to the head of an integrated system for the management of the financial operation of the state at the federal and local level.” I have stated it over and over, you cannot have a market economy without the banking system first opening to the world so investors may get profits out. That requires the CBI to get in compliance, move to Article VIII and get the dinar off the peg. As a result, investors will bring money to Iraq through the CBI’s capital account which will allow the CBI to raise the value to offset inflationary pressure created in the economy. First and foremost, the banking system must be activated. Good to see the IMF and WB telling Iraq to get going.
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BGG (Dinar Guru) – The UN Chapter 7 Charter is still in place and is not going anywhere…they’re going to do what they are going to do with their currency’s value…Chapter 7 doesn’t matter at all…all of the sanctions have been removed but the Charter is still there so that we…the U.S…can move troops around at will and that includes all other UN partner nations that matter.
Stryker (Dinar Guru) – Iraq is ready to take its place internationally. An update of Iraq’s Economic Reforms from the IMF and World Bank review…
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EXOGEN (Dinar Guru) – THURSDAY INTEL UPDATE: 1. IN COUNTRY STABILITY IN IRAQ IS FINALLY ALMOST HERE. NOTE: WE TOLD PEOPLE YEARS AGO YOU CAN NOT REVALUE A CURRENCY IN AN UNSTABLE ENVIRONMENT CONTROLLED BY ISIS/ISIL. 2. PAY CLOSE ATTENTION TO THE KURDS. 3. THERE IS ALSO AN OIL PIPELINE TRANSACTION THAT IS THE MAJOR TRIGGER MECHANISM UNDER THE TABLE…HINT HINT! (PAY CLOSE ATTENTION TO OIL JOINT VENTURES WITH IRAQ) 4. IQD PARITY TO OTHER CURRENCY IS INEVITABLE.
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Stryker (Dinar Guru) – Our dinar dominoes are finally ready to topple over in the direction of the perfectly aligned stars that are overlooking the desert soaked deeply in oil.
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BGG (Dinar Guru) – [is the new rate inside the budget?] There is no “new rate” inside the budget…in fact, one of the recent interviews with a CBI official – all but said it wouldn’t happen that way…they did give us an actual list of what was required and in what order it should occur.
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Eat Well – Lose Weight!!
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BGG (Dinar Guru) – [so we are waiting on Mosul’s liberation and then it rv’s?] That is a pretty “canned” statement… though it may not be far from the truth…as in- pretty absolute. [What about the other currencies?] Dong looks to be a ways out (at best).
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tman23 (Dinar Guru) – Coincidental…? You all should be very interested and excited…chatter regarding 4/21 and launching or beginning of something new with in IMF etc…Then i read this…Newshound Guru Stryker Article: “Iraq resumes next Friday talks with the International Monetary Fund and the World Bank“. What makes this so interesting is that everyone is meeting in Washington after they already had 12 day meeting in Amman just last month. Then I saw Legarde in an interview…will be meeting Mnunchin for the first time…Wanna know the date of the meeting …GUESS! Friday…4/21. [post 1 of 2….stay tuned]
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tman23 (Dinar Guru) – …it is being said in inner circles that something big regarding IMF…world currency…be that e-currency or whatever the speculation is was beginning 4/21... All I can say…about it is…What I have been reading regarding 4/21 is from a complete different circle from dinarland and nothing to do with IQD… BUT with the latest report of Iraq being there…Sure makes things interesting along with the April 28th budget gap looming… [post 2 of 2]
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The World Bank confirms its support for Iraq’s economic reforms and development through an integrated financial management system
The World Bank on Saturday confirmed its support for Iraq’s economic reforms and development through an integrated financial management system, while welcoming the steps taken by the Iraqi government in the field of resource management and the crystallization of reform visions .
The Ministry of Finance said in a statement issued on the sidelines of a joint meeting between an Iraqi delegation headed by Finance Minister Abdul Razzaq al-Issa and in the presence of Prime Minister’s Advisor appearance of Mohammed Saleh and a number of officials of the Ministry of Finance and the World Bank team and representatives in Baghdad in the spring meetings of the IMF and the World Bank in Washington, , “Appointed Iraq News” that “representatives of the World Bank indicated that economic reforms are a major necessity to reach an integrated system to manage the financial process of the state at the federal and local level .”
Read more: http://dinarupdates.com/blog/
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BGG (Dinar Guru) – [Do you think that the IMF meeting with the CBI and GOI this weekend could be the GO/No Go meeting for the Revalue of Iraq’s currency?] …IMHO it looks as if all these “talks” will happen first – THEN the Executive Board will decide and vote on, what to do. …the next few days are going to be very, very full of activity. Followed up by the IMF Executive Board. I’m saying – the end of April… up through about the 29th – is a VERY BUSY TIME for Iraq and the world financial overseers.
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BGG (Dinar Guru) – […what your thoughts on that no float….I did some research and there are advantages and cons about a pegged rate. I read if theyd come out low it will help with trade but on the other hand it could raise inflation.] Not could – will…it would start an inflationary trend that might not be easy to stop. IMHO – it will be a “managed float” – meaning: it will look so much like a fixed rate – it might as well be fixed.
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MadDScout (Dinar Guru) – [Do you think that the IMF meeting with the CBI and GOI this weekend could be the GO/No Go meeting for the Revalue of Iraq’s currency?] I will offer that it is a very important meeting. With the frozen funds coming back on line in June seems strategic.
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Breitling (Dinar Guru) – …Think about all the numbers we’ve been watching over the years…we knew what we needed to look for…We always talked about the note count. The note count has to be going down. At it’s peak when I got into the dinar…it was 15 trillion dinar…NOT NOTES…dinar. The max Iraq has had is 9 Billion notes which represented about 30 trillion dinar. So what does that mean? If you have 1 note that’s worth 25k and one note that’s worth 10k, you can see how there are more dinar than there are notes and that’s why we need to be able to parse those numbers to understand exactly what’s going on. But the total was 30 trillion dinar out there and they brought that number down by reducing the note count. So what are we at today?
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Chattels (Dinar Guru) – Isis ‘minister of war’ is killed by allied airstrike in Mosul. The highest ranking Islamic State commander in Mosul, described as the jihadists’ minister of war, has been killed in an airstrike.
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BGG (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 4 thousand, and perhaps more” Article quote: “On the prospects of floating Aldenarabraghi, similar to other countries in the region, Keywords said that it is Matrouh sealed now, and we are working on editing currency and not float, a large difference between the two” that is a BIG ARTICLE…there won’t be any FLOAT… (no float). PERIOD.
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Iraqi Dinar/Dollar auction 06-1-17 (most recent listing)
| CURRENCY | CODE | SELL | BUY |
| US dollar | USD | 1184.000 | 1182.000 |
| Euro | EUR | 1328.566 | 1327.902 |
| British pound | GBP | 1520.078 | 1519.318 |
| Canadian dollar | CAD | 877.102 | 876.663 |
| Swiss franc | CHF | 1219.361 | 1218.752 |
| Swedish krona | SEK | 135.842 | 135.774 |
| Norwegian krone | NOK | 140.756 | 140.686 |
| Danish krone | DKK | 178.577 | 178.488 |
| Japanese yen | JPY | 10.671 | 10.666 |
| Special Drawing Rights |
SDR | 1634.619 | 1633.801 |
http://www.cbi.iq
Indicative rates – 06.1.2017
Readmore: http://www.dinarupdates.com/blog/
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1bobby (Dinar Guru) – Article: “Parliamentary economy talks about the provisions of the law “Trademarks” As we delved further into what we are seeing is a WTO requirement. The TRIPS Agreement within the WTO guidelines mainly deals with intellectual property protections, it also go into trademark issues. Some ask if this needed for an RV. What it is needed for is promoting trade which is one of the pillars that influences exchange rates.
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Kaperoni (Dinar Guru) – Article: “UNDP to Implement E-Tendering system in Iraq” Quote: “The UN Development Programme (UNDP)’s Iraq Country Office has announced that, starting 1st May 2017, all procurement processes will be conducted using an online E-Tendering system (Electronic Tendering Platform).” Good to see. More electronic, less corruption.
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1bobby (Dinar Guru) – Article: “Iraq and Kuwait to discuss mechanisms for achieving economic complementarity” When they speak of “mechanisms” that means that the substance(s) of the agreement have been met, now they are looking towards implementation. Kuwait and the other ME Countries are learning that they can not survive by oil alone and they need to open the doors to more of a non oil revenue based economy. Iraq has lifted a ban that basically gives the right to Kuwati citizens the right to own property and invest in Iraq. Now Iraq wants the same from Kuwait. Kuwait calls Iraq “An important and promising market“.
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The Baghdad International Fair is due to open at its 44th session
The Ministry of Commerce announced the launch of the Baghdad International Fair in the next 44 session for a period of twelve days, the opening of this session, which was scheduled in early November coincides with the visit of the forty martyrdom of Imam Hussein peace be upon him.
Engineer Hashem Mohammed Hatem, Director General of the General Company for Exhibitions and Commercial Services of Iraq, said that the ministry has submitted the date of the 44th session of the Baghdad International Fair for a period of twelve days, to be 21-30 / 10/2017 instead of the first of next November.
Read more: http://dinarupdates.com/blog/
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DayTrader, a News Researcher for DinarUpdates.com, recently had some interesting commentary.
Here are his thoughts:
Article 140 is much more complex than many realize. If you read Article 140 in the Iraq constitution, it refers to Article 58 of the Law of Administration for the State of Iraq for the Transitional Period that outlines all the steps that must be completed. This was a document constructed by Paul Bremmer to be used until a permanent constitution could be developed and ratified by Iraq. Article 58 states:
Read More: http://dinarupdates.com/blog/
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BGG (Dinar Guru) – […I saw the ad for Zain prepaid phone cards in denominations of 250, 500, and 1000 IQD. I would assume they would be similar to 25, 50, and 100 dollar cards. Is this then telling us they are removing 1 zero and not 3? Not sure what to think.] Could just be moving toward increased value. I highly doubt they “take off one zero” since the whole “three zeros project” isn’t about nominal value – or moving the decimal point. It’s about increasing the value.
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Kaperoni (Dinar Guru) – Article: “Jubouri Kubiche: The victory of the security forces returned to the political stability of the country” ...if Iraq was waiting for this (as they have said over and over) then yes, it should be a sign of good things to come. That being said, I continue to believe the CBI must meet compliance with the IMF before anything currency related can occur… and they are not in compliance.
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Kaperoni (Dinar Guru) – Delegation from US Congress visiting Iraq says…”Iraq on the verge of a big boom.”
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Loop (Dinar Guru) – Article: “Head of the IMF mission’s (term) interest peg to the dollar rather than a large reduction of the Iraqi economy” The head of the IMF mission in Iraq is answering questions. THe IMF is saying that to decrease the value of the dinar against the dollar would only lead to inflation and that the CBI has the needed reserves to support the economy. [we certainly dont want it devalued any more.] It won’t. THere is no reason for it. Their economy is expanding so why on earth would the throw it into reverse? Just like I do not think a float is going to happen. They also are saying that there is no issue with the debt that they have taken on to support the country as long as the follow the process as outlined in the SBA.
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BGG (Dinar Guru) – The BIGGEST article of the day… “Director of the Issuance Department of the Central Bank: Printed currency volume exceeds 11 billion and 600 million dinars” (the title is a little weak for the content of the article)…the title should have read RV- RV- RV!! Quote: “Most of the Iraqi Central Bank steps are subject to political and legal environment of the country, especially in regard to the deletion of zeros…” …this is what you are after – EXACTLY. PERIOD. it’s isn’t a removing of the 000 from the notes…it isn’t a changing of the DECIMAL POINT…it isn’t a change in the nominal value…IT’S A CHANGING OF THE REAL VALUE and A BRINGING IN OF THE BIG NOTES… “…deleting the big 000 notes from the market place” = RV. [post 1 of 2….stay tuned]
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BGG (Dinar Guru) – …they have no intent on bringing out any bigger note classes – THEY DON’T NEED IT… value is going the other way…nowhere in there does it mention Article 140 – HCL – or anything else… nor does it bother to mention any laws needing passed… just a few changes. (aka – AMENDMENTS) [Also key phrase is “where it should be FOLLOWED by” Meaning the laws should be changed AFTER.] BINGO! money first – laws AFTER! why? They need to get this done now! This is about as much heads up as they are willing to give anyone…if they change the laws ahead of time – EVERYONE WILL KNOW. BIGGEST PIECE YET…here it comes… “On the other hand, the technical preparations are underway by us.” Meaning – on the other side of everything he’s said so far… they are and have been already making technical preparations (by the CBI). Pretty plain – if you ask me…pretty huge news... [post 2 of 2]
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MadDScout (Dinar Guru) – Article: “Rasheed Bank directs its branches to open documentary credits to public and private sector companies” Another way of getting business used to the banks. There is gobs of banking reform news out there. ...it has not always been this way. These are the many gears that are turning So to ask about hold ups is to not have a good grasp on what this whole situation encompasses.
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Delta (Dinar Guru) – MASTERCARD SHOWING IQD NOW. 1 IQD = 0.000888 USD. ANOTHER ONE IS SHOWING NOW BLOOMBERG…COME ON CBI JUST DO IT.
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MadDScout (Dinar Guru) – [As we look for signals of a rate change coming, are there any similarities we can find with other countries who have been through this?] …I would say this is a very unique situation, as compared with other countries situations, and as BGG put’s it, “there is no actionable intel”.
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Director of the Issuance Department of the Central Bank: Printed currency volume exceeds 11 billion and 600 million dinars
Most of the Iraqi Central Bank steps are subject to political and legal environment of the country , especially in regard to the deletion of zeros that counted specialists in the earlier trend sensitive and dangerous may still be , but the central remains the most important institution in terms of the need to adjust the financial management in light of the financial crisis experienced by the the Iraqi economy, which must have to deal with dilemmas , whether with regard to the citizen or the work of the central bank itself.
Read more: http://www.dinarupdates.com/blog/
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1bobby (Dinar Guru) – Article: “Office: Abadi agreed with the delegation of the Kurdistan Region to remove obstacles that prevented the activation of Article 140” The infamous Art 140 is in the Constitution, just not activated and or implemented. Now 140 does not cover all of Iraq, just Kirkuk and the disputed territories, Kikuk being ground zero. With Abadi agreeing to remove all obstacles to implement 140 is a HUGE step forward and something the Kurds can work with. Now while there are numerous cities/districts covered under 140, Kirkuk is the main concern. Kirkuk sits atop one of the largest oil reserves in Iraq, most reports estimate over 40 billion barrels of oil. …If Abadi is willing to remove the obstacles, then the Kurds will control Kirkuk. This action does not require a Parliamentary vote since it’s already in the Constitution. What Baghdad wants is what the constitution states “All oil within Iraq belongs to all Iraqi’s“…So if the Kurds get what they want, Baghdad will want all oil proceeds to flow thru Baghdad and then %’s will be distributed accordingly. We’ll just have to let this play out and see what they do, not what they say.
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MadDScout (Dinar Guru) – [What’s left before NEEDED to be taken off programmed rate?] Answer: That is what we are watching for. But from CBI (Alak’s) view, they are looking for stability…social, political, economic, security, take your pick as to how much of each of those goes into the criterion they are looking toward.
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Kaperoni (Dinar Guru) – Article: “The call for legislation of “important” laws before the end of the parliamentary session” Quotes: “The oil and gas laws, the Reconstruction Council, the Federal Service Council and the Federal Court Act, as well as the amending law of the amnesty law, are among the most outstanding laws that should be resolved as soon as possible,” the bloc said in a statement.” “noting that “the need to resolve to see the light soon.” …the only wildcard is if the US, UN etc get involved. We have seen in the past when something must be passed, it is done so with a little pressure. If the doors are ready to open, be assured what law or laws need to be passed will get done.
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Iraqi Dinar/Dollar auction 05-31-17 (most recent listing)
Currency Auctions Announcement No. 3455
This daily currency auction was held in the Central Bank of Iraq on the 05-31-2017
The results were as follows:
| DETAILS | NOTES |
| Number of banks | 37 |
| Number of remittance companies | 10 |
| Auction price selling dinar / US$ | —– |
| Auction price buying dinar / US$ | —– |
| Amount sold at auction price (US$) | 155,688,671 |
| Amount purchased at Auction price (US$) | —– |
| Total offers for buying (US$) | 155,688,671 |
| Total offers for selling (US$) | —– |
More: http://dinarupdates.com/blog/
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MadDScout (Dinar Guru) – [We have always heard when article 140 and HCL are put into place and activated we should see the rate within hours of implementation. We know Mosul is a key part. Can they implement HCL and Article 140 on a program rate?] Answer: That theory is old and unfounded, and tends to put events in the wrong order, according to what we know right now. Being as this is never mentioned in any of Alaks statements when asked about what the CBI needs to make full monetary reforms, I have put it out of my vocabulary. As to the third part of your question, can they implement 140 at program rate, I think it is so far in the future (Art140) they will have a “rate” by then. But IMO one doesn’t equal the other. They are stand alone issues, unhinged one from another. Rate is only important to us.
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Kaperoni (Dinar Guru) – Article: “Abadi: Two months separating Iraq’s exit from Chapter VII” [It would seem that Iraq’s removal of Chapter 7 would occur before the dinar becomes marketable and begins to float…] …though it’s important for Iraq to have it’s own currency once sovereign, I do not think they are directly related. When the dinar floats is a more of a decision of the CBI based on monetary policy. IMO, I do not expect it to begin until just before foreign investment begins to pour into Iraq.
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