DINAR OBSERVER DAILY – Mar. 8th

Posted on March 8, 2018 by The Dinar Observer

How Iraq’s Prime Minister Is Trying to Build Peace After 15 Years of Conflict

On a crisp afternoon in late winter, Bassem Qassim, a 55-year-old militia fighter, drives past a checkpoint on the edge of Baghdad, where the city’s clogged traffic gives way to sheep grazing and villagers tending small crops next to their houses.

A couple of dozen miles farther, he stops the car in a tiny hamlet to show how perilously close the Islamic State came to taking the Iraqi capital during its stampede into the country in 2014. He points to a cluster of trees on the edge of a small community. “They were right here,” says Qassim, who fought a fierce battle against the jihadists for 3½ years.

“This was our line of defense.”

The sleepy dot on the map does not look like a war front. And yet, after years of conflict, countless fault lines like this crisscross Iraq, leaving riven communities and millions of upturned lives in their wake. Now, as the country digs out from its grueling war against ISIS, it is trying to forge from its victory a lasting peace for the first time since the U.S. led a military invasion of Iraq in March 2003, in defiance of the U.N., to overthrow the autocrat Saddam Hussein.

Fifteen years on, TIME returned to Baghdad to speak to Iraqis of almost every stripe, from battle-hardened fighters and grieving civilians to Prime Minister Haider al-Abadi. All are trying to determine how they can finally prosper, and whether this relative calm can last. Having all but obliterated ISIS’s caliphate, Iraqis are grappling with a question that had largely receded during years of fighting, and that now looms large over the parliamentary elections scheduled for May 12: Can their country emerge as a functioning democracy, with its Shi‘ite, Sunni and Kurdish populations relatively united? And can it do that without the safety net of the U.S. military?

If it succeeds—and it is a big if—Iraq could become that beacon of freedom that U.S. officials once promised 15 years ago…

Read More: http://www.dinarupdates.com/showthread.php?56450-How-Iraq%92s-Prime-Minister-Is-Trying-to-Build-Peace-After-15-Years-of-Conflict
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Chattels (Dinar Guru) – I am thinking that the implementation / application of the INOC [Iraq National Oil Company] could be an alter ego to the HCL or a precursor of it. The INOC does not specifically resolve all HCL issues, but it may be a foundational framework for it. There are significant constitutional issues that may be addressed going forward with the INOC regarding the federalism issues with the HCL.
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Sandyf (Dinar Guru) – There is a fundamental difference between an “International currency” and an “Internationally recognised currency”… Article 8 would make the IQD an “Internationally recognised currency” which means that it would normally be exchanged at banks worldwide, it does not mean it can be normally used to make payment in international trade. When the IQD comes under Article 8, it will move from a non convertible currency to a partially convertible currency and international trade is normally conducted in a fully convertible currency, about 80 percent of which is in USD. For countries to trade in their own currencies it would normally require a bilateral agreement.
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Adam Montana (Dinar Guru) – There was a rumor this week that a lot of people brought to my attention. Yes, I’ve been on top of it. No, the rate has not officially changed. Here’s the deal: I hear more rumors than most, and I consider it my “job” to verify anything significant. The recent “buzz” about the rate change on Google and a few other places is causing a lot of buzz. Anytime something like this happens, the first thing I do is check with my top advisors. These are the people that are first-string contacts for us when we go to cash in, and even some of THEM have been double checking with me!
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Law of the National Oil Company .. A new era for the development of the economy

BAGHDAD (Reuters) – The House of Representatives voted Monday on a draft law of the National Oil Company, which will contribute to the development of the Iraqi oil industry, which aims to establish an Iraqi national oil company and enable it to carry out its work in the best way possible. National wealth said the academic economist d. Majid al-Baydani said in an interview with Al-Sabah that “the approval of the law of the National Oil Company will be a new era for the oil industry in the country as it will encourage the adoption of advanced scientific and technological methods to manage the national wealth to support the development of the economy.” “This will be an important shift in the development of extracting, marketing, transportation, storage and sales to the point of delivery and other oil operations,” he said.

The largest company

Al-Baydani said that “the Iraqi National Oil Company will be the second largest oil company in the world after Aramco and the largest of all international oil companies, which calls for the President to have a degree of experience and efficiency appropriate, commensurate with the powers of the company and capital.”

Article 2 of the law establishing the company consists of the capital of the company of (400) billion dinars paid by the government with the approval of the Council of Ministers and the company increase its capital on the proposal of its board of directors and approval of the Council of Ministers after the presentation of the feasibility study.

As stated in Article 5 of it “The Iraqi National Oil Company invests all the oil and gas areas in all the territory of the Republic of Iraq and its territorial waters and continental shelf, and may share with others the approval of the Council of Ministers if it finds it better to achieve its purposes and has the right to borrow from inside or outside Iraq to finance its investments inside Iraq and outside…

Key Phrase:

…the inclusion of the Iraqi National Oil Company A minimum of 10 percent is placed in four boxes with the first experience in the country, and one of the funds will give each Iraqi citizen residing within the country a share of that percentage…
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Adam Montana (Dinar Guru) – This is a crazy time for the dinar, and when things like this happen… there’s a good chance that there is a REASON for it. There is no verification of the “reason” right now, but I don’t believe in coincidences. I am receiving an overwhelming amount of similar “rumors” from sources that don’t generally react to anything of the sort. Some of these messages and calls are coming from people that I have business relationships with, but have NEVER contacted me regarding something that could be considered a “rumor”. Things happen… for a reason.
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Mnt Goat (Dinar Guru) – Here it comes…RV…All I can say is – I TOLD YOU SO! Here come the re-education process we have been waiting for all along. Folks – Iraq is starting the rollout the rollout.Now be patient and let the process go forward. We will be at the banks shortly. On Tuesday Iraqi TV was showing lower category notes and explaining them to give the citizens instructions on how to use them and what to expect in the coming weeks. WOW! Then later out pops this article in the news media. Can it get any better? Article: “CURRENT NOTES SOON TO BE REPLACED” Quote: “About 5 trillion Iraqi dinars ($4.3 billion USD) will circulate along with the old notes, said al-Yasseri, gradually replacing the older issues. He added that for now, both old and new notes will circulate side-by-side.”
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Mike (Dinar Guru) – Quote: “Government / private banks and authorized financial transfer companiesM / training course…We would like to inform you about a training course entitled “Counterfeiting and counterfeiting local and foreign currency and counterfeiting” …who counterfeits a currency worth 0.00090 to the dollar? And, it’s not even accepted outside of Iraq itself. Counterfeiting a $100 bill makes perfect sense, but a 50K note worth $40 bucks? [They look towards the future Mike.] I guess so but Iraq’s currency will slowly rise in value due to the effect of the Balasaa-Samuelson effect, it’s not an overnight deal. In addition, security symbols, raised dots, colored threads and the Spark optical features make this one of the toughest currencies to counterfeit today. With a value of 0.00090 to $1. Shabibi told us all throughout 2011 and 2012 that counterfeiting was an excuse by Iraq’s leadership to not make a change in the value of the dinar. It was a scare tactic. Why we’re still seeing this stuff is beyond me. …it sure seems like a lot of work for a currency that’s essentially worthless outside the country.
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The provincial government announces a political meeting on the budget and send a message to Baghdad

The Kurdistan Region Council of Ministers during a meeting on Sunday that the passage of the federal budget law is a clear violation of the principles of partnership and consensus on which the new Iraq was built.

The Council of Ministers of the Kurdistan Region expressed its appreciation to all the Kurdish blocs in the Iraqi Council of Representatives, praising their position and aligning them together and unify their word and position on the issue of the Iraqi budget law, and supported the unity of this row.

The Council decided to hold a joint meeting in the next few days with the Parliament of Kurdistan and the political parties in the Kurdistan Region to discuss this issue. According to a government statement.

The Council of Ministers of the Kurdistan Region stressed that the Kurdistan Region, despite all the problems and differences, is committed to resolving all problems with Baghdad on the basis of the Constitution, and expressed the hope that the talks and dialogue between the Kurdistan Regional Government and the Iraqi federal government to a result in the interest of everyone and solve all Problems.

After a difficult labor, the Iraqi parliament approved yesterday the law of the general budget for 2018, ending months of disagreements on most paragraphs of the law, especially the allocations of “popular mobilization” and oil-producing provinces, at a time boycotted Kurdish deputies meeting in protest to reduce the share of the region from 17 percent to 12 , 6 percent, threatened to boycott the political process.

Article Credit: shafaaq.com

BGG ~ This is almost comical… Think about this for a sec…

These guys, none of whom are elected and aren’t regional MP’s (because the Parliament was disbanded by Massoud Barzani) – are only advisers to Nerchivan Barzani who wasn’t elected either…

…all get together, look “super-duper” official and “send a message” to Baghdad.

Really?!?

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Breitling (Dinar Guru) – They said they got it [note count] down to 4 billion notes. In my mind they are looking at the different denominations. One of the generals who put the currency out that you and I have…american general…he said Iraq’s goal, very specific, is to get to a billion notes and those billion notes will represent their wealth. It’s that easy. The reality is they are at 4 billion and when we get at a billion they said they plan to get it to $3.25. That’s all the information we have. There hasn’t been any [updated] reports. I haven’t seen anything.
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G-Lin (Dinar Guru) – Article: “Parliamentary Energy: The law of the National Oil Company will give a share to every Iraqi citizen” It has taken years. But it did pass and having them all agree on it was the biggest hurdle. Finally profit sharing is addressed. This is the biggy. The entire world has been waiting for this and now it is done.
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Breitling (Dinar Guru) – …They’re going to add value to their currency…their plan was to rebuild their economy and…they wanted to get as modern as possible and be able to get outside of the oil industry. They wanted to be able to diversify so they had a little bit of insurance. And that’s still their intent. The first step in order for them to do that is to add value to their currency. That way they have purchasing power to be able to go out in the world and compete with their own currency…it’s very very simple….they have 2 options to revalue. They can revalue in an up market or they can revalue in a down market. There’s no way they are going to get out of it. Either way they have plans to do so. Nothing has changed. If you look at their original statements that came out of the CBI, the Ministry of Planning and Parliament…when they went to the IMF they said they wanted to get their currency back to $3.25…Iraq has a plan. It hasn’t changed. The only opinion that should concern you is the CBI, the Ministry of Planning and Parliament. Nothing has changed.
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Sadrists rally against corruption in Baghdad ahead of elections

Supporters of fiercely pro-Iraq Shiite cleric Muqtada al-Sadr gather on Friday at the nation’s capital.

Some held signs reading “the people demand accountability for the corrupt.”

The demonstrators gathered at Tahrir Square, as Iraqi lawmakers are yet to pass a 2018 spending bill.

Others read “million-man march, reformist, electoral, walking towards reform.”

The country is set to hold May 12 parliamentary elections.

Article Credit: Rudaw.net

BGG ~ This may be some of the best news yet. Seeing Sadr and his people on this side of things is a very, very big deal.

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BGG (Dinar Guru) – Article: “Sadrists rally against corruption in Baghdad ahead of elections” Quotes: “Supporters of fiercely pro-Iraq Shiite cleric Muqtada al-Sadr gather on Friday at the nation’s capital. Some held signs reading “the people demand accountability for the corrupt…Others read “million-man march, reformist, electoral, walking towards reform….The country is set to hold May 12 parliamentary elections.” This may be some of the best news yet. Seeing Sadr and his people on this side of things is a very, very big deal.
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Chattels (Dinar Guru) – When Kap says that we are close he is referring to the 2% variance or spread between the official rate and the “street” rate / parallel market rate.
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G-Lin (Dinar Guru) – Articles: “Parliament votes on a clause that the headquarters of the National Oil Company in Baghdad” “The Ministry of Oil welcomes the vote on the law of the National Oil Company in the session of the House of Representatives today” Quote: “Al-Luaibi said that the adoption of the law will constitute a new era for the oil industry, based on scientific methods, modern technology and the national management of the country’s wealth. In order to support and develop the national economy.” This is our HCL IMO.
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Kaperoni (Dinar Guru) – Article: “Dollar exchange rate and the price of gold in Iraq on Monday” Quote: “According to the figures in the “Economy News” sell the dollar in Baghdad, recorded today 121 thousand and 500 dinars and the purchase price of 122 thousand dinars for $ percent, while yesterday scored 122 thousand 250 dinars and the purchase price of 123 thousand and 500 dinars for $ percent.” 1215 to $1 we’re close!

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The Wall Street Journal predicts Abadi will remain in office after the May elections

Baghdad today – “The Wall Street Journal” in a report published Friday, the survival of Prime Minister Haider Abadi in office after the next election, while indicated that the alliances after May, who will decide the form of the next government.

The pro-Iranian Shiite factions, inspired by Hezbollah, also act as political parties, and as with Hezbollah, their ability to exercise political power within Prime Minister Haider al-Abadi’s government and abroad is derived from their weapons, By the total votes they will receive in the May 12 elections. ”

“The multiplicity of political forces and the influence of Iran and the fragmentation of the Iraqi parliamentary system means that post-election bargaining will determine the course of the state rather than the elections itself.”

“Nothing fundamentally changes in the way Iraq is governed,” the paper quoted Haddad, an Iraqi political specialist at the National University of Singapore, as saying.

Haddad added: “The election is likely to result from another coalition government headed by Abadi”

“There is no coherent opposition that can easily outperform it,” Haddad said.

Article Credit: baghdadtoday.news (Special Thanks to Charles Bright)

BGG ~ I like the WSJ’s optimism… we all know how accurate they were on the last election they “predicted”. I’m hoping on this one, they are more accurate.

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Kaperoni (Dinar Guru) – The market rate is in essence the rate on the street…the dinar is a little weaker than the actual value from the CBI which is pegged to the US dollar which is part of Article 14. In order to meet the stipulations of IMF Article VIII you need to simplify your foreign exchange and reduce the market rate spread which is the spread on the street…The rest of the world’s banking system for the most part is in Article VIII…they have expertise in managing their currency and meet the conditions. This is important because if you’re ever going to accept article VIII and make the dinar internationally convertible you need to maintain that exchange rate for international transactions…
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Kaperoni (Dinar Guru) – …Banks don’t want to lose money. They want to know what the spread is from day to day. They want to know how much it’s going up and how much it’s going down and so on…this has always been an issue since I’ve been in this investment. The Central Bank had to reduce the spread…Shabibi actually did a wonderful job. He lowered the spread within the conditions set forth in their article IV consultations. He got it down to 1200 or so on the street and held it there for 10 months. In September of 2012 he announced he was going to begin currency reform so we assumed he was going to Article VIII at that point. Then of course PM Maliki at the time said No, we’re not ready. We don’t want this to occur…When Shabibi was out of the country for a conference Maliki put out a warrant for his arrest. Which in essence kept him out of the country and stopped the process in it’s tracks…

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Chattels (Dinar Guru) – Article quote: “Jubouri: Vote on important bills Monday 03/03/2018 15:44 BAGHDAD / NINA / Speaker of the House of Representatives Salim al-Jubouri, said that the meeting on Monday is no less important than previous meetings. “The Monday session will feature important bills,” he said at a news conference. “The national oil, the protection of teachers and teachers, accountability and justice, and the protection of engineers.” “…national oil...” Could be the “HCL”. [5% TO THE PEOPLE…I have seen many Iraq people posting this number on Abadi posts on facebook over the last few months. This is the number i think the citizens are wanting in this regard. TO THE PEOPLE…or there provinces…will these funds be directly given to this citizen via the government or the province in which they reside? ..Meaning the …HCL?] The 5% is an allowance for/to certain oil producing provinces.

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Iraqi parliament approves $88 billion 2018 budget

By Ahmed Aboulenein and Ahmed Rasheed

BAGHDAD, March 3 (Reuters) – Iraq’s parliament approved a budget on Saturday, lawmakers said, but Kurdish MPs boycotted the vote over their region’s allocation.

The budget of 104 trillion Iraqi dinars ($88 billion) is based on projected oil exports of 3.8 million barrels per day (bpd) at a price of $46.

It envisions government revenues of 91.64 trillion dinars ($77.6 billion) with a deficit of 12.5 trillion dinars ($10.58 billion), according to lawmakers.

The projected 3.8 million bpd exports include a 250,000 bpd contribution from Iraq’s semi-autonomous Kurdistan region.

“We boycotted the vote and there are proposals for Kurdistan to withdraw from the entire political process in Iraq over the unfair treatment we have received,” said Kurdish MP Ashwaq Jaff.

The budget trimmed the Kurdistan Regional Government’s share to 12.67 percent, down from the 17 percent the region has traditionally been entitled to since the fall of Saddam Hussein…

Read More: http://www.dinarupdates.com/blog/
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BGG (Dinar Guru) – Article: “Iraqi presidencies meet and discuss the federal budget” Well, the good news is – they met. They talked.They actually tried to get the vote done in the afternoon. Reportedly, they passed a “provisional budget” – or parts of it. Not exactly sure what it all means just yet. We’ll see. However, I have said all along – this budget will get done, it just won’t be the harbinger some people are looking for.
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BGG (Dinar Guru) – Article: “Kurdish official: Baghdad committees completed the audit of salaries of the region by 96%” My first reaction is…They had to do an AUDIT Because the CROOKED Kurdish leadership was asking for salary money for 50,000 employees that didn’t exist!! It’s no wonder Baghdad kicked them in the 8@!!$$ with 12.5% of the budget thing…
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The Wall Street Journal predicts Abadi will remain in office after the May elections

“Nothing fundamentally changes in the way Iraq is governed,” the paper quoted Haddad, an Iraqi political specialist at the National University of Singapore, as saying.

Haddad added: “The election is likely to result from another coalition government headed by Abadi”…

Read More: http://www.dinarupdates.com/blog/
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Chattels (Dinar Guru) – Article: “After the vote on 12 articles of the budget law .. Jubouri declares violation of the quorum 01/03/2018 15:48 BAGHDAD / NINA / Parliament ended the vote on Article 12 of the Federal Budget Law. The chairman of the council, Salim al-Jubouri, announced that the deputies had been defeated in the presence of only 159 deputies…” The Iraqi budget is read and approved article by article. After 12 articles the number of deputies present fell below 165 and the quorum was lost. There is likely no mystery to the budget process in Iraq. Generally the Parliament does not convene except to approve decisions made in committee and elsewhere. It appears that there was agreement on some articles, but not all so the quorum was disrupted “by design”.
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Kaperoni (Dinar Guru) – …Over the last year or so the central bank has taken the development of the banking system seriously and started to make some serious changes in Iraq…The reality is the Central Bank of Iraq can’t do anything until they are in compliance [2% rule]. That’s the bottom line. If they want to open their banking system. If they want to make the dinar International tradable…where the dinar is traded among the Central Banks around the world…they have to get into compliance like every other bank in the world. This was the last restriction on Iraq. When you make your currency internationally recognized and internationally convertible more than likely they are also going to change the exchange rate regime…right now it’s pegged. We believe they are going to go to some kind of float which will allow the currency value to go up.
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Kurdish official: Baghdad committees completed the audit of salaries of the region by 96%

(Baghdad: Al-Furat News) The spokesman of the Ministry of Health in the Kurdistan region, Khalis Qader, on Friday, cutting committees sent by the federal government to the region a significant step in resolving the outstanding issues between the parties.

Qader said in a press statement that “the competent committees of the federal government, which works to audit the salaries of employees of the Kurdistan region, has so far completed more than 96% of the instructions entrusted to it.”

He added that “the committees raised more than two positive reports, to the federal government, to pay the salaries of employees of the Kurdistan region, and the basis of the staff of health and education.”

“According to the reports of the committees, it told the federal government, the matching checks with the existing explanations,” adding that “but there is no response by the federal government to the reports of its committees to the territory.”

The spokesman of the Ministry of Health in the Kurdistan region, revealed on February 5 that ”
“We are waiting for the decision to pay salaries for the month of January this year, by the head of the federal government, Haider Abadi.”

He hinted that the health of Kurdistan demanded that the federal government to pay the salaries of its employees for the month of December 2017, and be spent within the decision on salaries last January, “adding,” But we do not know if the December dues or not. ”

Article Credit: alforatnews.com (Special Thanks to Charles Bright)

BGG ~ My first reaction is…

They had to do an AUDIT Because the CROOKED Kurdish leadership was asking for salary money for 50,000 employees that didn’t exist!! It’s no wonder Baghdad kicked them in the 8@!!$$ with 12.5% of the budget thing…

Also, this title is a little misleading, the real version is more like – they have finished (reportedly) 96% of the audit. Meaning: they are NEARLY done (with the AUDIT). Not actually done.

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EHankins (Dinar Guru) – In my opinion…I see the many things coming to the surface…the HCL, The auctions losing value and heading to a suspension, the price of the IQD is rising to meet parity with the auctions. The CBI is speaking to the three-headed monster of the “time frame” that is plugged into the current timeline of events. We wait for the budget yet, it is finished actually in reality…we just can’t see it. I believe all…these things mentioned are in place and quivers with energy waiting on one thing… . When this one thing happens, what we look for will not explode… there won’t be a boom. When the RI takes it’s first breath… then EVERYTHING mentioned will simply lean forward into the center where the RI sits and all of this will simply function as one well oiled purposeful Monetary Reform without hesitation. Only in my Opinion…
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BGG (Dinar Guru) – Article: “Abadi discusses with INTERPOL Secretary General the exchange of expertise on cyber crimes and money laundering” While they appear to be making headway on their “Official rate – Market rate” spread… it would do wonders for international investment if they would make some visible and public encroachments against their endemic corruption. Their bloated OR/MR spread is just a symptom – it is not the problem. The problem is the corruption that feeds the disparity.
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Chattels (Dinar Guru) – Quote: “The House of Representatives, Thursday, its meeting to next Saturday to complete the vote on the budget after the imbalance of the quorum and the exit of some members of the HaLL” To resume on Saturday according to one report…There it is…Parliament convened with the bare minimum of 165 in the afternoon after failing to make quorum this morning I read…

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The stability of the dollar exchange rate against the Iraqi dinar

(Independent) … The prices of the dollar exchange rate stabilized on the Stock Exchange and local markets on Tuesday (February 27, 2018).

Kifah Stock Exchange – Baghdad 122,000 dinars, the same price for Monday.

Selling and buying prices in banking shops:

Selling price of the dollar = 122,500 dinars.

The price of buying the dollar = 121.500 dinars.

Article Credit: mustaqila.com

BGG ~ This was from yesterday… I haven’t seen anything further on the OR/MR parity yet today (it’s what I’ll be watching close for a few days).

It’s is basically saying that after a few days of gains – the value of the Dinar has stabilized for now.

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Kaperoni (Dinar Guru) – …Banks don’t want to lose money. They want to know what the spread is from day to day. They want to know how much it’s going up and how much it’s going down and so on…this has always been an issue since I’ve been in this investment. The Central Bank had to reduce the spread…Shabibi actually did a wonderful job. He lowered the spread within the conditions set forth in their article IV consultations. He got it down to 1200 or so on the street and held it there for 10 months. In September of 2012 he announced he was going to begin currency reform so we assumed he was going to Article VIII at that point. Then of course PM Maliki at the time said No, we’re not ready. We don’t want this to occur…When Shabibi was out of the country for a conference Maliki put out a warrant for his arrest. Which in essence kept him out of the country and stopped the process in it’s tracks.
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Kaperoni (Dinar Guru) – …The market rate is in essence the rate on the street…the dinar is a little weaker than the actual value from the CBI which is pegged to the US dollar which is part of Article 14. In order to meet the stipulations of IMF Article VIII you [Iraq] need to simplify your foreign exchange and reduce the market rate spread which is the spread on the street…The rest of the world’s banking system for the most part is in Article VIII…they have expertise in managing their currency and meet the conditions. This is important because if you’re ever going to accept article VIII and make the dinar internationally convertible you need to maintain that exchange rate for international transactions…
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Kaperoni (Dinar Guru) – …IMF: “Although performance under the Stand-By Arrangement has been weak in some key areas, understandings on sufficient corrective actions have been reached to keep the program on track. Against this background, Directors encouraged resolute implementation of the authorities’ program including continued efforts toward fiscal consolidation, strengthening the financial sector, and implementing structural reforms to promote private sector activity and improve the business environment.” Very key…That is about as stern as I have ever seen from the IMF. I just think were in a good place finally. With the help of the UST and IMF it looks like they got a plan to reduce the spread. And with at 1220 now we are only 7 dinars away from 2%. So by end of week maybe. Can they hold it? Well I think there is to much riding on it to not to.
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Nusseiri: The implementation of the strategy of the Central Bank contributed to the improvement of the dinar exchange rate against the dollar

Economy News _ Baghdad – The economic and banking adviser to the Association of Iraqi Private Banks Samir Nusairi, said that the central bank and the banking sector played a key role in overcoming the economic and financial crisis, and support the state treasury and methods and procedures and new instruments in the applications of monetary policy.

Al-Nusairi said in an interview with “Economy News” that “the Central Bank has worked mainly on combating money laundering and financing of terrorism, strict adherence to international regulations, rules and standards, re-evaluation and classification of banks in light of their compliance with compliance regulations and determining the last beneficiary in the window of sale of foreign currency and work mechanisms New in the proactive control internally and externally led to higher value and purchasing power of the Iraqi dinar against the dollar exchange rate, “noting that” the most prominent reasons for the recovery of the Iraqi dinar is the plan and procedures of the Central Bank and cooperation with the banking sector and the commitment to Died and standards issued by the Central Bank. ”

“The Iraqi banking sector is the first major link in the economic circles of Iraq and occupies a fundamental and important aspect as the financial and investment sector, which is the main part of the financing and management of economies.”…

Read Full Text: http://www.dinarupdates.com/showthread.php?56381-The-implementation-of-the-strategy-of-the-CBI-contributed-to-the-Dinar-improvement

(Special Thanks to Vernell)
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Kaperoni (Dinar Guru) – From the IMF last Sept… “25. The government will gradually remove remaining exchange restrictions and a multiple currency practice (MCP) with a view to eliminating exchange rate distortions.Such a move towards acceptance of the obligations under Article VIII of the IMF’s Articles of Agreement will send a positive signal to the investor community that Iraq is committed to maintain an exchange system that is free of MCPs and restrictions for current international transactions and thus facilitate creation of a favorable business climate.” So it’s coming. That should perpetuate a new exchange rate regime as well causing the dinar to rise. …I believe once it starts, it won’t take more than a year to rise to a value we are comfortable with.
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Enorrste (Dinar Guru) – …Once the ball starts rolling it will proceed quickly to a value that we can all enjoy. The simple fact is that there are now a vast majority of factors in our favor versus the few left that seem to be holding this back. ISIS is decimated in Iraq; the banking structure is becoming more internationally connected; interest in investing has risen even if actual investment has not yet begun; the CBI has finally tackled the problem with the spread (this is really key); the CBI is officially on the record now for some time to move toward a floating currency; talk of ending the auctions has risen to the point that it will become a reality soon; the IMF is trustee over the CBI and is on record to move Iraq into the real world; etc. I will be surprised if we don’t see the float begin sometime this year.
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Kaperoni (Dinar Guru) – Article: “A new drop for the dollar today in Iraq” Quote: “The exchange rate of the US dollar against the Iraqi dinar continues to decline for the second month in a row. The foreign exchange markets in Baghdad, on Monday morning, the decline in the dollar exchange rate against the Iraqi dinar. The market price in the Kifah Stock Exchange in Baghdad was 1220 dinars per dollar, or 122 thousand dinars for one hundred dollars.” …All we can do is wait and see each day what they report for the auction. 1220 is close…let’s give it another week and see if they are in compliance.
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BGG Q & A:

Q: What is this 90 day 2 % everyone talking about has it started and does it mean we have to have 2 % for 90 days before a rv ?

A: If I recall correctly, the “IMF 2% rule” refers to the spread between the Official rate and Market rate of the currency on any given day.

The rule is, basically – they must maintain this 2% (or less) gap for at least 90 days prior to accepting IMF Article 8 general obligations (as a member country) and concurrently from then on. Now – would the IMF allow them some latitude on the 90 day entry point? Possibly.

However, the real issue everyone is stewing over is this…

Does this recent closing of the gap between the “Official rate” and “Market rate” forecast some coming change or is it much ado about nothing?

There are articles regularly touting the tightening of this gap… or the “Strengthening of the Dinar against the Dollar” or some other various titles along those same lines. Ask yourself why? Because they know what it means.

Whichever side of the fence you are on here, this tightening of the OR/MR gap is the single most visible, interesting and encouraging “data point” we’ve seen in a very, very long time…

Read More: http://www.dinarupdates.com/blog/
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Kaperoni (Dinar Guru) – Article: “Alnasiri: Implementation of the Central Bank’s strategy contributed to the improvement of the dinar’s exchange rate against the dollar” They had a few months with the UST and IMF to figure out a plan to reduce the spread. It seems likely they are on track to compliance. We all know the investment won’t come if they do not get the market economy going. Time is running out.
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Kaperoni (Dinar Guru) – …We need to see the spread (the official rate to the market rate) go down within 2%. When it’s within 2% then they are within compliance. Then it puts them into a position to accept the conditions of article VIII and launch their currency internationally. And more importantly exit the peg that they are on and go to some kind of float. Which would let the world set the exchange rate based on supply and demand…They need to be in compliance for 90 days…They might get an exception from that simply because Iraq is in dire consequences. The recent war. You have a lot of unemployed people…There is a certain amount of expedience needed in Iraq so therefor they may give them an exception. Maybe not and the IMF is going to hold them to a full 90 days of compliance. If they get in compliance in the next week it creates a window in March and the end of May which would be the 90 days where Iraq could accept Article VIII and begin it’s transition to engage with the world financial system. That is the step we want to see occur.
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mike (Dinar Guru) – Article: “Kurdistan Alliance confirms the continuation of the boycott budget” Why are they stalling? They want 17%, if Iraq’s political leadership would just take a peek at the Iraqi Constitution, it clearly states the Kurd’s are to receive 17% of Iraq’s budget, outside of sovereign responsibilities…They don’t need to re-invent the wheel, just follow the legal and constitutional requirements of Iraq’s existing laws and pay the Kurd’s their 17%… after a while, they’re going to say enough is enough and make another mess that takes three years and billions of dollars to correct.
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Chattels (Dinar Guru) – It is encouraging to watch the improvement in the market rate of the dinar in Iraq. Arguably a singular transparent progress available to us.
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Sandyf (Dinar Guru) – My opinion…article 8 is an absolute must…and they aint there yet…then when they are eligible...IMF can take up to 60 days for a yea or nay vote… so we got a while …Art 8 is a major bullet point. But it should be remembered the onus is on Iraq, it is up to them to accept the obligations of Art 8, they could remove the IMF issues at any point with the stroke of a pen. It is not about the parallel market rate, it is about the settlement of international invoices at a rate that deviates from the official rate. Vietnam had exactly the same problem and they made it illegal for companies not to settle the transaction at the official rate. If companies made loss/profit on buying the dollars they must show it separately in the accounts. Personally I think that Iraq is holding on to Art 14 for a reason, hopefully as part of some other agenda.
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Kaperoni (Dinar Guru) – …The recent articles from the last 3 days are very very significant…where economists are putting out articles about the market rate in Iraq and how the market rate is coming down substantially. Titles, “The continuing decline of dollar in Iraq”, another one titled, “Hooray Iraqi Dinar”, another one titled, “The Recovery of the Iraqi Dinar”, another titled “What has causes the sudden price decline of the dollar against the dinar is there a relationship to the decline near the election”. these articles are very significant because now the citizens and economists are starting to notice that the dinar market rate which was well over 1250 is starting to fall in line with…the Central Bank of Iraq’s official rate. This is very very important toward the next step into the international financial system…We’re getting closer and it’s something you should be excited about…We’ve been here before in 2012 when we were close like this under Shabibi. Hopefully this time they will accept the conditions or Article VIII and begin to appreciate the currency…
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Sudani: Iraq is moving towards a market economy

BAGHDAD / Al-Sabah: The Minister of Labor and Social Affairs Mohammed Shiaa al-Sudani said that Iraq, having achieved victory over terrorist gangs, is witnessing a qualitative shift in its policies towards a market economy.

“The government has embarked on a package of economic reforms to support the private sector and create an attractive environment for investment,” Al Sudani said during a speech at the Islamic Conference of Labor Ministers held in Jeddah, Saudi Arabia.

The Sudani, said «the Ministry of Labor and Social Affairs and its supporters began to pay attention to issues of poverty and unemployment through the enactment of new laws».

Article Credit: alsabaah.iq (Special Thanks to Tim Tarkington)
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Mike (Dinar Guru) – Article: “international rating reflects a look contrary to expectations and negative for the fiscal deficit and the economy in Iraq” Quote: “…The ratings agency Standard & Poor’s said it affirmed Iraq’s rating at B- / B with a stable outlook.” The rating is unchanged.
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Mike (Dinar Guru) – …the current reality is that the dinar is pegged to the dollar and under Article XIV, there is just about zero demand for a currency you can’t spend outside the country, pragmatically, why would anyone want it? To become a currency that’s internationally recognized under Article VIII with the IMF they have to hold this rate for a minimum of 90 days, it’s too easy to manipulate the rate for a short term and it doesn’t prove that Iraq has it’s act together and has the ability to maintain stability. There’s no reason any other country would accept it for payment for imports, they want the dollar. Like always, time will tell us what’s really going on, if Iraq can get the rate within the 2% band for minimum compliance with the IMF”s MCP requirements, all they have to do is hold it and hopefully they can accept the responsibilities Article VIII.
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Kaperoni (Dinar Guru) – Ya never know, maybe the CBI with the help of the IMF and US Treasure finally figured out a plan to succeed at reducing the spread. It would be nice to think so at least.
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Today, the dollar is falling against the Iraqi dinar

(Independent) .. The prices of the dollar exchange rate resumed the decline with the beginning of this week on the stock market and local markets on Saturday (24 February 2018).

Kifah Stock Exchange – Baghdad 122.250 dinars, while prices for Thursday 122,500 dinars.

Selling and buying prices in banking shops:

Selling price of the dollar = 122.750 dinars.

The price of buying the dollar = 121.750 dinars

Article Credit: mustaqila.com (Special Thanks to both Charles and Tim)
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MilitiaMan (Dinar Guru) – Article: “Association of Private Banks concludes the course «Accounting for financial institutions” I would think [Quote] “the stability of the dollar exchange rate against the dinar will encourage foreign companies to invest inside Iraq.“, especially when it is 1:1 or better and not a program rate we currently have thus far today.
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Kaperoni (Dinar Guru) – Article: “Dollar exchange rate and gold in Iraq on Thursday prices” Quote: “According to figures received by the “Economy News”, it has reached sales of $ 100 at the exchange rate in Baghdad struggle to 122,000 dinars, while the purchase was 121.750 dinars, after it was 122.250 yesterday, settled with the sale price of $ 100. In Erbil Stock Exchange 122.750 dinars, and when the purchase was 122.250 dinars.” So pretty much the spread is 1220 to $1 They still got about 7 dinar to go to get in compliance.
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Kaperoni (Dinar Guru) – [I read that the Official Rate is 1180.] …the CBI auction post under CBI news states the price at 1182. … market forces (interbank) are minimal at this point plus the CBI has pegged to the dollar. …that is why the CBI cannot stay pegged once in compliance. The CBI needs to move to a different exchange rate regime (some type of float) which would allow flexibility to adjust the value of the dinar based on economic pressure (this is known as discovery) created by investment. …I think its key to understand why they CBI must move off the peg before investment begins… “Adopting a flexible exchange rate before liberalizing the capital account enables a country to absorb capital account shocks at lower cost to the real economy than under a fixed exchange rate. By contrast, liberalizing the capital account first can help offset temporary current account shocks, expand the range of instruments available for risk management, and deepen the foreign exchange market.”
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Central_Bank_of_Iraq_Logo

Central Bank of Iraq Auctions $194,883,291 on 22 February 2018

Baghdad (IraqiNews.com) The Central Bank of Iraq (CBI) currency auction on February 22 registered $194,883,291 in sales, a 10.90% volume increase from the US $175,734,132 sold by Iraqi Dinar, credit and transfer at the previous auction held on February 21.

The latest auction was attended by 45 banks and 9 remittance companies. The same institutions attended the auction held on February 22 compared to the previous auction.

Data for the February 22 auction was made public by CBI Announcement Number 3641.

Dollar sales in the in the period January 1, 2018 to February 22, 2018 saw an increase of -1% compared to the sales of US $5.57 billion in the same period in 2017. The total amount of US currency sold by CBI in the calendar year 2017 was US $15.7 billion.

An analysis of the monthly dollar sales by CBI since January 2016 reveals highly fluctuating volumes. During the period from January 2016 to February 2018, sales of US dollars averaged US $1.81 billion per month. Peak volumes were reached in May this year when sales touched US $2.3 billion.

Read More: http://www.dinarupdates.com/blog/
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Kaperoni (Dinar Guru) – Article: “Source: The increase in the depreciation of the dollar against the dinar due to the actions of the Central Bank” …the Market Rate will never be less than the Official Rate at the CBI. And the CBI cannot stop the auctions until there is an alternative for international commerce. I believe I am correct, the 2% rule is calculated off the Official Rate plus CBI commissions (1182 + 8 dinar commissions X .02 = 23.8) which puts it at 1213 to $1. How long the CBI must wait may be subject to IMF review. We know they were not giving them an exception on the spread, but they may give them an exception on time (90 day rule) due to the urgency of maintaining stability and encouraging investment.

[Based on Kaperoni’s 8 dinar commission rule some feel the percentage difference between the official rate and market rate needs to be 1214 to meet the IMF 2% stipulation. However, no one seems to be clear on how to calculate the number – opinions range from 1203 to 1214]

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Kaperoni (Dinar Guru) – Article: “IFC is cooperating with the Iraqi Central Bank to strengthen corporate governance in the banking sector” Quote: “This initiative comes within the framework of IFC’s strategy to stimulate private sector growth in Iraq…” …the IFC is going to drive investment into Iraq and as a result capital through the CBI. Exactly what we want...
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Adam Montana (Dinar Guru) – Dinar is getting interesting again, isn’t it? It’s about time! Major news is pretty simple – no HCL yet, but it’s gaining a lot of outside support in a quick way. Notably, the price of Crude has stabilized to around the same price it was back in early 2014. This is exactly what the recent OPEC agreement was intended to do, and the fact that it’s succeeding is VERY encouraging. Reports that it should get back up into the $80 range are everywhere. The important part here is that oil IS stable, and it IS going up, in a mostly predictable fashion. This is what Iraq needs to really move on the HCL…Also promising is reports that some dealers are showing a shortage of IQD notes for sale. This could be a strong indicator that the available supply is drying up, or it could mean that demand from investors like us is getting lower… Good for us, either way!… [post 1 of 2]
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URGENT The dollar is blowing in Iraq

Foreign exchange markets in Baghdad, on Wednesday morning, a significant decline in the exchange rate of the dollar against the Iraqi dinar.

The market price in the Kifah Exchange in Baghdad was 1220 dinars per dollar, or 122 thousand dinars for one hundred dollars.

The prices of selling and buying dollars in banking companies were:

The selling price of one dollar 1225 dinars, or 122 thousand and 500 dinars, for one hundred dollars.

And the purchase price of the dollar is 1215 dinars, or 121 thousand and 500 dinars, for one hundred dollars.

Foreign Exchange Rates:

EUR World Price: 100 Euro = 123.23

GBP The World Price: 100 Bounds = 139.85 $ The

Turkish Lira The International Price: $ 100 = 379.15 Turkish Lira.

Article Credit: http://www.alliraqnews.com (Special Thanks to Tim Tarkington)

BGG ~ Listen folks, this is good news. The Dinar is getting stronger. It is harder to get (over here), the price is going up and the exchange rate is better over there (for us). None of this is bad. It is all good.

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Adam Montana (Dinar Guru) – …On a different subject, I saw a news clip about a confrontation in Iraq yesterday. It surprised me, because we’ve really seen almost NOTHING along those lines in the last year…major violence in Iraq has been almost non-existent lately when compared to 2013,14,15…as we all know here, Iraq certainly is not the same place it was 5 years ago! It makes one wonder…is Iraq finally to a point where they are “flying under the radar” for the most part, and therefore in a perfect place to surprise the world with something big? That could certainly be the case. Bring it on! They might catch the rest of the world by surprise, but not us.[post 2 of 2]
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Randy Koonce (Dinar Guru) – All the ‘gurus’ have watched since the first of the year for the RV to happen. What we have all learned is that the revaluation of the Iraqi Dinar has become the biggest political football in history. And that is why we are still waiting. However, it appears that the time has come for Abadi to finally step up to the plate. Based on information I am receiving, we believe that the RV will (should) take place within the next 2 weeks. Great pressure is being brought to bear to make this happen. Everyone – including the people who can make this happen – are tired of waiting for this to happen. And ‘they’ are pushing. So. We are in a 2 week window. Right now. [post 1 of 3]
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Randy Koonce (Dinar Guru) – …there is a very real reason why the RV has not happened years ago. So, some history…One of the things that we learned was the fact that Obama was never going to let it happen as long as he was president. We learned that half of Obama’s cabinet wanted to release the RV and the other half agreed with Valerie Jarrett, who did not want anyone in the US to participate in this blessing. …So, between Maliki’s regime and Valarie Jarrett’s influence over Obama, the previous eight years were a total waste of time from the RV standpoint. Now that Trump is in office, he very much wants this done, but does not want Iran to benefit. President Trump is working hard to get this done, because he knows many of us are holding dinar, and wants to allow us to bless and grow the economy of the USA. You’ve probably heard the phrase…Make American Great Again? [post 2 of 3]
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Erbil-Baghdad Agreement Imminent

ERBIL — The Kurdistan Region and Iraqi governments are close to reach an agreement over their disputes in the nearest future, said a source close to Iraqi Prime Minister Haider al-Abadi.

The high-level delegations from Erbil and Baghdad are due to resolve the differences over Kurdistan Region’s airports, customs and border lines, the source told Shafaq News.

He further revealed that the Kurdistan Regional Government has already agreed with most of the points in the political deal, the rest would remain under discussion.

Iraqi Prime Minister Haider al-Abadi said earlier the day that Erbil and Sulaymaniyah airports would soon be re-opened after over four months since Baghdad imposed a flight ban on the Kurdish region.

Article Credit: basnews.com (Special Thanks to Tim Tarkington)
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Randy Koonce (Dinar Guru) – In addition, it is being rumored that Abadi has been trying to solicit money from various countries, in return for Dinar. But, some of that money would go to him, and not Iraq. If true, this may be the reason Abadi has been dragging his feet on ‘pushing the button’. He could be wanting to make one last attempt to feather his own nest a little better. However, not only the Trump administration but these other countries as well, are putting tremendous pressure on Abadi to get this done…Or Else! …In the event that we do not see this finished in the next 2 weeks – don’t despair. They do not have to wait for another year. This will get gone – this year. …the best thing we have going right now is a Very – Determined – President. We are close…Every large bank will exchange…RELAX the RV is coming…Check www.cbi.iq every day to see if it has changed…Breathe… [post 3 of 3]
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G-Lin (Dinar Guru) – Articles “The recovery of the Iraqi dinar”; “Merry of Iraqi dinar” These arts. are by two leading economist from Iraq and they are heaping praise on the CBI for narrowing the spread in the market place. This is exactly what the IMF has been trying to get Iraq to do for years. This fights corruption and gives some prestige to the dinar. Higher value and stronger purchasing power. Hopefully this tread will continue and we will see them liberate the exchange rate in the open market internationally. We know Iraq is examining the example of Egypt pound… Egypt is a success story and their economy has improved since they started the float in 2016. I like this part of the above art. “restore the splendor in the currency market .. Financial stability and the strength of the Iraqi dinar aim to reduce the systemic risks that have emerged with the recurrence of financial crises.”
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sandyf (Dinar Guru) – …it is almost odds on certainty that the IQD will never float.

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The date of voting on the budget of 2018

Baghdad News – A member of the Finance Committee of Parliament Mahasen Hamdoun, said Monday that next Tuesday is the date of voting on the budget in 2018.

Hamadoun said in a press statement that ‘the Finance Committee continues its meetings to discuss the budget and will not clear things, only on the day of voting on it’.

“The vote on the budget will be next Tuesday,” she said, stressing that ‘deductions of salaries of employees stopped in the budget’.

“The Finance Committee is meeting today to complete the discussions and will not show the picture only in the voting session on the budget,” adding that ‘the proportion of the region will not change and the members of the Kurdistan Alliance did not attend to discuss the budget so far, so the situation remains as it is.

Read More: http://www.dinarupdates.com/showthread.php?56313-Disclosure-of-the-date-of-voting-on-the-budget-of-2018
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Kaperoni (Dinar Guru) – Article: “The recovery of the Iraqi dinar” …Nasiri is giving props to the CBI for reducing the spread. The IMF continues to guide them towards the finish line ever so slowly...we all would love some sort of RV, but truthfully, it is just not possible. Both monetary policy wise and logistically. But I do agree, Iraq does need to raise the value soon and hopefully that will begin to occur this year.

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Kaperoni (Dinar Guru) – Article: “Dollar rates: a slight rise in Baghdad, Erbil and stability in Basra” 1221 to $1. I believe the 2% goal is 1213 to $1 (1184 + 6 dinar CBI commission =1190 x .02 = 1213)
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Chattels (Dinar Guru) – Difficult to know whether the “improvement” in the market rate for the dinar is the result of a decline in the value of the USD or betterment for the dinar? Likely the former some say.
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Iraq prime minister promises corruption crackdown, says laws will protect nervous foreign investors

More than six months after Iraq’s leadership proclaimed the defeat of ISIS on Iraqi territory, the country is on a path to rebuild and has seen promising signs of international investment for its reconstruction.

Though the country’s reconstruction is in its early stages, Prime Minister Haider al-Abadi told CNBC Sunday at the Munich Security Conference, he described the progress as “encouraging” and as evidence of trust from the international community in Iraq…

Read Full Text with Commentary: http://www.dinarupdates.com/blog/
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G-Lin (Dinar Guru) – “Economist shows the most important “problem” facing investment in Iraq” The news currently is scarce and most of it is propaganda…Being an election year in Iraq, it is hard to tell the honesty in most arts. It is time for Iraq to act on their economy however. And floating their dinar may be a life saver. I think it would give the investors a little bit of confidence that seems to be missing. They really need to do something at this stage. We shall see.
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Chattels (Dinar Guru) – Article quote: “Foreign exchange markets in Baghdad, on Sunday morning, a significant decline in the exchange rate of the dollar against the Iraqi dinar. The market price in the Kifah Stock Exchange in Baghdad was 1225.5 dinars per dollar, ie 122 thousand and 550 dinars per hundred dollars.” [… if the exchange declines…will that reduce the spread?] Yes, a 2% spread or variance requires that the Dinar market rate be about 1202.
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mike (Dinar Guru) – Article: “Invest Iraq conference” concludes in Kuwait” For sure, this conference did not live up to the expectations that folks were screaming about before the event. This was planned for months prior to the February 12th, Abadi was counting on this to aid his bid for a second term as PM, which is why these tepid articles about success are beginning to come out. He has to spin this in a way that serves his purpose. Pledges and contracts in the ME are not the same as cash in hand. Iraq won’t manage any of the funds the Sunni countries put towards reconstruction, these will all be managed by the WB and IMF. [post 1 of 2]
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mike (Dinar Guru) – The math on this is super simple…they received roughly $1.5 billion in cash, that’s it, a far cry from the minimum $88 billion estimated to rebuild Anbar Province. Many articles spoke to these businesses in Kuwait for the conference but were reluctant to jump in because of the rampant government corruption and difficulty to operate in Iraq. Abadi has got to get a grip on the corruption, pass the laws for economic growth and get his country’s currency in line for international acceptance before anyone’s putting real money into this country outside of the oil industry. Hoping for large contracts that may start at the beginning of 2019 isn’t the answer we’re looking for, Iraq needs help and action right now, today. 2.5 million people are displaced and have no home. [post 2 of 2]
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Chattels (Dinar Guru) – Article: “Invest Iraq conference” concludes in Kuwait ” Perhaps the conference was not the failure it appeared at first blush, but we may not know until 2019 + and how Iraq will make progress on the problem of corruption remains to be seen also.
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BGG (Dinar Guru) – …some interesting stuff out there right now…with the send-off Abadi got at Davos, I had figured this Kuwait Conference wouldn’t go quite the way everyone was thinking. …There wasn’t much in the way of “hand-outs” directly to the government of Iraq. There were some commitments and some direct loans (if they want them). However, loans will weigh down their future budgets (is their concern)…I get the impression they were mainly after free money. On the other hand, I am still encouraged. In fact, this recent article: ”Float the Iraqi dinar and stop the auction currency is the only solution of the Iraqi economy”…shows us a couple of things: 1) While there seems to be some resistance – from somewhere in the GOI to a move with the currency, where that is or why it is, I am unsure…2) …there also appears those on the other side of the fence… [post 1 of 2….stay tuned]
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BGG (Dinar Guru) – …I am assuming those opposed to corruption and the corrupt processes…are putting pressure on the first group to do something, other than just fish around for free money. Such is noted in the above article. On a side note, and relating to “fishing around” for free money…there did appear to be something of a start to rounding up corrupt political figures in an effort to reclaim “ill-gotten gains”. As an additional note: Reported in Baghdad recently, it is implied this push must include Maliki and his henchmen if such a move is to be recognized by the world (and Iraqis) as a genuine effort. While a float may or may not be what they (or you and I) had envisioned, they just may well do something like this before they do nothing at all. …I don’t really care how it starts…just that it does and they GET TO IT!! [post 2 of 2]
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Float the Iraqi dinar and stop the auction currency is the only solution of the Iraqi economy.

Under Conference : Kuwait , the results of which are discouraging to solve the problem economic Iraqi especially after the devastation resulting from the grinding war on terrorism must think of radical solutions and take advantage of other peoples experiences

I want to point to the experience of two states at the time Alhadrohee experience Masrafiqirh powered and experience its Vnzula oil – rich experience sister bank to float the Egyptian pound in 2016, which produced Mayati after only one year of floatation first year float ..

Egypt stronger “numbers” after the liberation of the exchange rate .. cash reserve jumps from 19 to 36.5 billion dollars .. and $ 56 billion to save imports .. and $ 13.7 billion Surplus payments .. and 17.3% higher transfers abroad…

Read Full Text with Commentary: http://www.dinarupdates.com/blog/
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Kaperoni (Dinar Guru) – Article: “Float the Iraqi dinar and stop the auction currency is the only solution of the Iraqi economy” [If they float, auctions cannot stop until the dinar is equal to dollar.] …that is false. Accepting IMF Article VIII (making the dinar more internationally accepted and convertible) is the key. Doing so would allow the CBI to stop selling dollars to pay for imports. As well, the CBI then makes commissions off the conversion of currency. This is why the CBI is trying so hard to reduce the spread…so they are in compliance and can move to Article VIII.

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Chattels (Dinar Guru) – Quote: “With these constitutional points, we can reform our economy” If we must await a constitutional amendment for the completion of economic / banking reform in Iraq then we could be here for quite awhile.
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Chattels (Dinar Guru) – Article: “Baghdad News – The exchange rate of the dollar fell in the Iraqi market against the dinar, and the general trend on demand was moderate. The exchange rate of the dollar in the Stock Exchange Baghdad purchase price $ 100 = 122.750 Iraqi dinars Selling price $ 100 = 122.800 Iraqi dinars.” The market rate is improving for the Dinar against the dollar in Iraq. It was as high as 1,300 within the past year as I recall.
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COMMITTEE OF ACCOUNTABILITY: ANNOUNCE THE NAMES OF 5,000 PEOPLE INCLUDED IN THE SEIZURE OF FUNDS THIS WEEK

The Commission on Reconciliation, Accountability and Justice in the House of Representatives, that next week will see the announcement of the names of about 5,000 people included in the seizure of funds.

The head of the committee Hisham al-Suhail told the news agency, “The Supreme Commission for Accountability and Justice ended the names of all those involved in the seizure of funds,” noting that there is some delay from the Secretariat General of the Council of Ministers not to form a special committee, calling for the urgency of issuing instructions and the formation of the Committee through an approach The competent ministries shall designate the general directors who shall form the committee.

Al-Suhail, who is covered by the decision to hold the money, estimated about 5,000 persons, while the names of tens of thousands will be issued and they can be disposed of afterwards.

(Special thanks to Vernell)

BGG ~ Funny how that works… about one day after they realize the world isn’t going to “give them” anymore money, they go back and think about getting it back from the crooked politicians who’ve been stealing from the GOI and the people of Iraq.

According to recent estimates, they could collect as much as 500 BILLION (USD) back to the state treasury by enacting and enforcing simple legislation they’ve had in the works for some time now.

P.S. as reported in major OP ED’s in Baghdad recently, Maliki and his henchmen had better wind up on this list…

It is critical to Iraq’s long term success to get a handle on the endemic corruption.

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Breitling (Dinar Guru) – …What’s the trend that’s coming out? I’ve been getting emails from people asking, “Hey can you recommend a place to buy currency because I went to this trader and they don’t have anymore?” …I started getting more and more emails…The reality is everyone is running out of dinar…I waited and waited to actually find out…from the guys who actually ship the currency over here. There are only three sources that ship the currency over here. And I found out they have no problem at all getting dinar…there’s no laws preventing them from getting dinar. No one has said anything to them. They have a shortage. Do you know what that means? That means they reduced the note count down that much. It means everything! [Post 1 of 3 ]
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Breitling (Dinar Guru) – …Those numbers reflect…Do I have the exact number? No…I can tell you when I got into this investment they had about 9 billion notes. And that’s the information I got from the IMF when I researched this…so it went from 9 billion notes to 15 billion notes…I was like holy crap it’s not going to revalue when it gets this high. But guess what?…they said they were going to reduce the note count and they finally did. The last report was 4 billion notes. And I don’t know why they put that report out because you’re not supposed to do that….The reason why it got so high was coming from General Petraeus and these guys …they were saying they’re trying to keep the value down, cheap, so they could rebuild that country. [Post 2 of 3 ]
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Breitling (Dinar Guru) – …And the Iraqi Dinar was becoming so popular they had to squash it. There has been a policy to keep the dinar artificially low. All we had to do was watch when the policy flipped…and what do we see? A huge huge decrease in dinar availability. That’s huge…the numbers don’t lie. The numbers are there and you see the result of it…you should right now be very very happy. There is still dinar out there…but it’s not sitting out there like it used to be. So that’s phenomenal news that’s coming out. We’re actually seeing the result of the reduction of the note count. And that means EVERYTHING. They just can’t add value to a currency. It has to physically equate and represent. Just like the U.S. dollar…and guess what? You’re seeing that. It’s here right in front of you. [Post 3 of 3 ]
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Central Bank of Iraq Auctions $198,173,094 on 15 February 2018

Baghdad (IraqiNews.com) The Central Bank of Iraq (CBI) currency auction on February 15 registered $198,173,094 in sales, a 8.69% volume increase from the US $182,320,645 sold by Iraqi Dinar, credit and transfer at the previous auction held on February 14.

The latest auction was attended by 45 banks and 9 remittance companies. The same institutions attended the auction held on February 15 compared to the previous auction.

Data for the February 15 auction was made public by CBI Announcement Number 3636.

Dollar sales in the in the period January 1, 2018 to February 14, 2018 saw an increase of -1% compared to the sales of US $4.75 billion in the same period in 2017. The total amount of US currency sold by CBI in the calendar year 2017 was US $15.7 billion.

BGG ~ I will continue to highlight the regular auctions. After recently asking around about the reasons for the “tightening” of the supply of Dinar in the U.S… one of the main reasons I got was the fewer and fewer auctions. Wait – what?!? They are still having fairly robust auctions.

So, obviously, that’s not true… so what is it?

Another possibility is this MASSIVE financial embargo on Kurdistan, provided this was where currency was coming from.

I have also heard of a couple of major players talking about having money in – or being able to get money out of Kurdistan… all baloney. Kurdistan has been under very tight controls since snubbing the world diplomats with this sham vote pushed by Barzani.

Why was it a sham vote? Simple fact: you can’t just take what isn’t yours to take just because you vote on it.

Back to my previous rebuttal – anyone who actually had money in Kurdistan would have either gotten it out or is REALLY “up a creek”… likely just more B.S.

So…

1) Fewer auctions?

2) Tightening borders (fewer exports)?

3) More demand? I sincerely doubt it.

4) IMHO and most likely, the supply here in the U.S. from disgruntled sellers, which is likely where the bulk of the U.S. supply really comes from, and current interested buyers has finally reached a point of parity where the “supply – demand” scales are more evenly balanced.

Hence, the price goes up.

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Adam Montana (Dinar Guru) – Maliki – that’s an interesting topic right now. I think he’s backed off of the “old Maliki” style considerably, and Abadi is no fool. He’s certainly wise to the posturing and politics. They say there’s no such thing as an “honest politician”, and even though I am a cheerleader for Abadi, the adage applies to him as well. I truly believe that Maliki has created enough past bad-will that he will never truly find himself in a position of power again, and Abadi can play the game well enough to ensure that stays true. If anything, Maliki’s new approach will encourage positive progress for the country as a whole. Abadi should remain in his position, and any kind of peaceful and reasonable discourse between the parties will move us closer to an RV. Conclusion: As much as I loathe these words… I don’t see Maliki as a hindrance to a ReValuation any more. In fact, he may be helping in a roundabout way.
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BGG (Dinar Guru) – Article: “$30bn Pledged to Iraq – Time to Act!” Quote: “While this is well short of the $88 billion in funding estimated to be needed…” They were actually talking about 100 Billion in “grants” (all along)… not 88 billion and not a single “grant” in sight. Looks like Iraq is gonna’ have to earn it. No one is giving it away today.
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Kaperoni (Dinar Guru) – Article: “Iraq awaits the outcome of the Declaration of the participants their contributions to the reconstruction conference” Quote: “…the bank has focused on monetary stability, which is a major objective of monetary policy, especially as it alone manages the money supply and thus affect the price system…” This is great! They are doing what the IMF stated they must do first. Article VIII will come once they meet compliance.
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mike (Dinar Guru) – Article: “World Bank: Iraq is not able to afford the donor debt” So, the WB thinks that Iraq needs to address the corruption as well: Quote: “the World Bank had recommended the Iraqi government not to borrow more loans, including soft, but the participating countries of Iraq granted sovereign loans, threatening the country ‘s wealth in the event of failure to regulate the investment process .” There are no more free lunches for Iraq, pass the laws, punish the corrupt and engage the open market policies required for financial survival.
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Kaperoni (Dinar Guru) – Article: “Abadi announced the start of the second phase of the reconstruction of Iraq plan” Quote: “…the current reconstruction phase will create thousands of jobs and improve economic development.” More importantly it will create economic pressure forcing the CBI to begin to raise the value.
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Kaperoni (Dinar Guru) – Article: “United Nations: Kuwait Conference stunning proof of the confidence in the government and the people of Iraq“ Quote: “Iraq is on the right track and the international community has shown its confidence in Iraq, which is very important , a good news” A very good sign.
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Iraq receives nearly $ 11 billion from Arab and foreign countries for reconstruction

Baghdad Mawazine News – Iraq received nearly 11 billion dollars from Arab and foreign countries during the Kuwait International Conference for the Reconstruction of Iraq.

Saudi Arabia’s foreign minister, Adel al-Jubeir, said that “the kingdom has allocated $ 1.5 billion for reconstruction projects in Iraq and the financing of Saudi exports to it.”

While the Turkish Foreign Minister Mouloud Javishoglu, during the conference, to provide five billion dollars to support the reconstruction of Iraq.

Iraq also received $ 100 million as a contribution from Australia to reconstruction, while Britain pledged up to $ 1 billion a year to Iraq in the form of export credit over 10 years.

Germany announced at the Kuwait conference that it will provide aid to Iraq worth 350 million euros in 2018, and the UAE announced a pledge of 500 million dollars for the reconstruction of Iraqi cities.

Finland has donated $ 10 million to carry out humanitarian projects in Iraq and has pledged to train Iraqi forces.

While Qatar allocated one billion dollars in the form of loans and investments and export facilities for its products in Iraq.

The Amir of Kuwait, Sheikh Sabah Al-Ahmad Al-Jaber Al-Sabah, announced at the Kuwait International Conference for the Reconstruction of Iraq, on Wednesday, that his country will allocate $ 2 billion in accordance with the mechanism of Kuwait Fund for the reconstruction of Iraq and encourage investment in it.

BGG ~ I keep hearing the complaints about Iraq getting all kinds of “welfare” as though they are living on these “pending grants” and IMF loans (instead of revaluing their currency).

I would be careful in assuming this is the situation or that any of this is any kind of “hold-up” to economic and monetary reform. I doubt so very much.

Everyone (as in – the investors and countries) wants to get close, be in on the beginning, but not so much so that they are just giving “hand-outs” with nothing in return. Iraq has to do their part. I get a little bit of the sense Iraq is kind of getting the cart before the horse with this latest conference.

It has long been speculated (and openly reported by Iraqi economists) Iraq would be hit with a “wall” of investment capitol when they truly started economic, monetary and governance reforms. However, it does not appear to me we are quite to this point yet. Everyone wants in – Iraq just don’t have the temperature quite right yet.

Keep in mind… these are “allocations”, “pledges” and “financing” and “projected exports” for projects. Basically these are all “feel good, sweet nothings” at a conference.

Next Monday we’ll see what’s what. Thus far they are well short of the 100 billion in give-aways (and grants) they were asking for.

On the other hand – why should they be given anything (for free)? If they would just pass corruption law(s) currently caught up in their Parliament’s legislative log-jam and then enforce them, their state treasury will swell by an estimated 500 billion (as they have plainly reported).

No need for anything from anyone.

Further, it is my opinion, Iraq should be held to account for (that means – PAY FOR) the military and humanitarian aid tab they’ve run up over the last few years.

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Mnt Goat (Dinar Guru) – Today is the third day of the Donor Conference. So the RV did not happen by Sunday, as expected. The conference has started on Feb 12 and will run until Feb 14th. What next? I can see we can expect more of the same investment strategy for Iraq. The news now is all about investing in Iraq and part of that investment is the rebuilding of Iraq and moving it to a “market economy” driven by the private sector. We must think of the Donor Conference in Iraq as a piece to the puzzle for accomplishing these goals. [post 1 of 3….stay tuned]
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Mnt Goat (Dinar Guru) – Iraq has had many investment seminars over these 11 years since I have been in this investment. Why is this one so important? It is important due many reasons: 1) PM Abadi at the helm (political stability) 2) Honest intent to move forward (banking and financial reforms in place) 3) Investment laws in place allowing investors to come in The investment law and its amendments are yet more pieces to the puzzle and were the banking reforms. So you can see each step they make brings them yet closer and closer to an economy that can grow. But when will the economy take off?… [post 2 of 3….stay tuned]
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Mnt Goat (Dinar Guru) – Some believe they must first reconstruct the cities and allow businesses to come back in. I do not know the answer but if we THINK for a second, we can see that all they really need is to get to a point where they can guarantee that the launching of their new currency will not crash and they can maintain the rate. This is the extent they need. Personally, I believe that if they pulled the trigger today they would be just fine. I am saying this because their overall economy is now much better than prior to 1991 invasion. So could they technically trigger and survive? Yes, I believe they could. [post 3 of 3]
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Iraq is ready to reform the financial and economic sectors

Economy News Baghdad: UN Secretary-General Antonio Guterich said Iraq was ready to reform the financial and economic sectors.

Guterich said in his speech to the Iraq reconstruction conference held in Kuwait and followed by “Economy News,” that “the United Nations development programs operating in 25 areas of Iraq to help Iraqis and develop their reality of living.”

“The United Nations launches a grant program that helps repair infrastructure, improves daily life and helps improve economic reforms and revitalize areas that have been damaged,” he said.

(Special Thanks to Loopster for sharing)
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Aggiedad77 (Dinar Guru) – Article: “The House of Representatives concludes reading and discussing the Federal Budget Bill of 2018 In policy February 13, 2018” WELL LET US SEE WHAT THURSDAY WILL BRING FOR PARLIAMENT…THINK ABOUT IT…THE DAY AFTER THE KW CONFERENCE…SO WILL THIS BUDGET HAVE AN IMPACT ON WHAT WAS DONE AT THE CONFERENCE…IFO…NO… IMO… NO… BUT WE KNOW/SUSPECT HIGHLY WHAT THE FINAL OUTCOME OF THE BUDGET WILL BE…LOADED WITH STARS…PRIMING IRAQ FOR A FRESH NEW START…A START THAT DOES NOT INCLUDE AN ACTIVE WAR AGAINST TERRORISM, BUT INSTEAD A FOCUS TOWARDS THE REBIRTH OF THEIR ECONOMY, THEIR COUNTRY AS A NATION TO BE RECKONED WITH BY THE WORLD…MAYBE THE LION WILL ROAR IN KUWAIT TOMORROW [WEDNESDAY]…IMO IT WAS CERTAINLY AWAKENED THERE TODAY WITH THE GOINGS-ON THAT WE’VE SEEN…OPTIMISTICALLY EXCITED…THAT BE ME…IMO…3…2…1…
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mike (Dinar Guru) – Article: “Corruption, bureaucracy and armed practices threaten 157 Iraqi projects at the donor conference” Parliament just passed a law protecting those in government from prosecution for corruption, their timing couldn’t have been worse. I realize the west doesn’t want to leave Iraq vulnerable to Iran’s influence, but at this point, Iraq is in Iran’s back pocket, losing them to Iran has already happened. These folks can’t even agree on a 2018 budget, how can they expect the world to donate billions when they can’t even balance their own checkbook? The world has stood up and done everything it can to help this country… These guys have got to put on their big boy pants and act like they care about the country and its citizens, if they don’t, the world won’t. IMO.
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Mnt Goat (Dinar Guru) – Article quote: “THE BUDGET WILL CONTINUE AFTER THE COMPLETION OF THE SECOND READING IN PARLIAMENT, WHICH WAS SUPPOSED TO BE READ IN YESTERDAY’S SESSION, BUT BECAUSE OF THE ABSENCE OF A LEGAL QUORUM WAS NOT PUT ON THE AGENDA OF THE MEETING” …I want to emphasize that no budget – no RV. Just saying is there a connection?
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World Bank: Iraq is the best place to invest in the world

The International Finance Corporation (IFC), the private sector arm of the World Bank, has urged international companies to overcome their concerns about financing reconstruction projects in Iraq and capitalize on high-yielding investment opportunities there.

“As the country emerges from a devastating three-year war against ISIS, I do not think anywhere in the world there are such opportunities for investment,” said Ziad Bader, head of the International Finance Corporation’s mission in Iraq, in a speech at Kuwait Chamber of Commerce and Industry.

“IFC has investments of about $ 1.2 billion in various projects in Iraq, including banks, cement factories and telecommunications companies, and is preparing to announce an investment of $ 250 million in a telecommunications project,” he said.

Read More: http://www.dinarupdates.com/showthread.php?56255-World-Bank-Iraq-is-the-best-place-to-invest-in-the-world
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Mnt Goat (Dinar Guru) – Appears that a company…will sell you gold and silver and allow you to pay for it in dinar (much below market prices given). Really? To me this is WOW news and confirms to us all that the dinar is very valuable and is in demand or will be shortly in very high demand…
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BGG (Dinar Guru) – Article: “Speaker Jabouri calls 2018 Iraqi budget bill ‘unconstitutional,’ rejects to pass it” Quote: “…Salim al-Jabouri said the parliament will not approve cutting the salaries of civil servants.” IMHO, this has very little to do with the actual budget they are trying to get passed and much more about political alliances being developed for the upcoming elections. Seriously?!? Jabouri cares at all about the KRG share?? No. I think not. All part of the process – it will happen.
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sandyf (Dinar Guru) – I get the impression that many perceive currency coding as nothing more than window dressing, nothing could be further from the truth. Currency codes are the backbone of all financial systems. Every computerized accounting software operates on a base currency and once set that currency code cannot be altered. When a country needs to introduce a new currency, the code must first be issued by the ISO, accounting software needs to be amended and a new set of accounts created in the new currency. This is why I often remind people that a redenomination cannot happen overnight nor in secret. One thing you can be sure of is that Iraq, or any other country is not going to be introducing a new currency anytime soon. It should be noted that the introduction of alternative denominations is an addition to an existing currency and not a new currency.
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Aggiedad77 (Dinar Guru) – He [Abadi] is an integrally smart man who is also learning new chess moves IMO from a MASTER…T…and he is about to put Iraq on the roadmap of the world in so many ways…the term “MECCA” won’t even be able to fit in Iraq when he is done IMO…expansion like we’ve never seen before IMO…it is all good…and it is all coming…IMO in a way that you would least expect it to…there are major pieces in this this game that dance to their own rules and are not used to being told no or used to delays…I look for no more delays, no more excuses…”the time is now”…
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The @IraqiGovt is implementing reforms

Follow us on twitter @DinarUpdates !!

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Kaperoni (Dinar Guru) – Article: “Al-Nasiri: Central Bank aims to build a solid banking sector in 2018” Quote: “In addition to its results and the extent of its commitment to implement the monetary policy directions of the Central Bank and reflect on its actual contribution to GDP and its contribution to sustainable development and its transition from the role of banking to the developmental role.” “In addition to its results and the extent of its commitment to implement the monetary policy directions of the Central Bank and reflect on its actual contribution to GDP and its contribution to sustainable development and its transition from the role of banking to the developmental role.” This is a very clear statement for those looking for an overnight RV, it ain’t happening. This means they are sticking with sound monetary policies that will improve the value of the dinar as the GDP improves. In other words, as investment comes into Iraq, the dinar will rise in value. Which from everything else we have read, appears to be some kind of float.
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Mnt Goat (Dinar Guru) – So the BIG question is this – is there a new plan to stock the US Reserves with Iraqi dinar and use it to pay off the National Debt after its revaluation? Well one thing we do know for sure is the Iraqi dinar will have a very substantial revaluation unlike the initial re-instatement of the Kuwaiti dinar. We know this from knowing about the process to “delete the zeros”. In fact the Kuwaiti dinar never really did revalue, it only rose in rate (not value) due to the float on FOREX and pure speculation. It then came back to reality… [post 1 of 2….stay tuned]
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Mnt Goat (Dinar Guru) – I am positive there is some plan to do something and use some of this to pay off debt if nothing else in part to use it for the deficit negotiations… Can they balance the deficit? Trump will look like a hero if they can and do it without closing down the govt again. As the US is not doing all this work in Iraq to just fight terrorism. I do not know all the details nor will I pretend to know. We shall all find out after the fact. This is all information that, if you tie it all together, points to the near completion of the project to delete the zeros and eventual revaluation of the Iraqi dinar. This what we are looking for. This is our TARGET! [post 2 of 2]
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Frank26 (Dinar Guru) – Article: “Al-Nasiri: Central Bank aims to build a solid banking sector in 2018” Quotes: “Central Bank’s adoption of standards and controls conforms to the requirements of international standards and the basic and subsidiary objectives of its strategy until 2020 and to activate and consolidate new visions of monetary policy applications,,,”; “…the Central Bank has introduced new policies and visions and mechanisms of smooth implementation, but it is monitored and followed up on a daily and accurate basis inside and outside Iraq in order to achieve the above economic goals and strengthen international banking relations with the international banks in order to serve our national economy and the banking sector.” YOU NEED TO READ THIS WITH THE HEART OF A STUDENT OF YOUR INVESTMENT…THIS IS THE MAIN SOURCE…DO NOT WALK BY THIS…”ARTICLE”.
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sandyf (Dinar Guru) – There seems to be some confusion between the availability of IQD at banks and forex, the two are not directly related. There are many levels of forex and all Art 14 currencies can be traded without being available at banks. International banks will normally only deal in Art 8 currencies but may do so at their own risk. It is Art 8 that guarantees redemption by the central bank. Around here there are a few local Art 14 currencies and they are all available at banks because the foreign nationals are present in the country.
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Frank26 (Dinar Guru) – IMO ON MONDAY IN KW…THE LL (long line) DOES NOT SEEK A BUDGET FROM A…BUT MORE SO AN EXPLANATION OF…IRAQ’S CURRENCY! [Of course they aren’t going to talk about their budget, who cares about that! I would want to know about the laws that are going to protect me, how I am going to exchange my currency while doing business, the banking laws that will protect my company & my contracts, the transfers, payments, insurances … the who, what, why and how about everything IQD.] YES…YOU ARE NOW…GETTING THE TRUE PICTURE OF…THE KW CONF!!!
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Sources: away from the Kurds National Alliance and the Union of forces agree to pass the budget

Image result for picture of Kurdish National Alliance

Sources – away from the Kurds National Alliance and the Union of forces agree to pass the budget Parliamentary sources confirmed that the National Alliance in the House of Representatives, reaching an agreement with the Union of forces to pass the budget without the Kurds who oppose the proportion allocated to them in the budget, while likely to move Kurdish budget without counting the proportion of 17% of the region, threatening to take steps to escalate.

“The majority of the deputies of the National Alliance agreed with the Union of Forces to pass the budget away from the Kurds as they continue to object to the proportion of the province in the budget law,” he said, adding that ” The Kurds withdrew from the session of parliament, which saw the second reading of the budget, but their withdrawal did not affect the reading because it has not been put to the vote yet.

The source, who did not disclose his name, said that “the Kurds stand against the vote on the budget and their insistence on the previous proportion of the budget for the region 17%,” pointing out that “the budget today was built on the basis of population ratios in addition to that many cities and regions need funds Great for their reconstruction. ”

For his part, MP MP from the Patriotic Union of Kurdistan, Peston Zankana, pass the budget without counting the percentage demanded by the Kurds and threatened political escalation if the National Alliance and the Union of Forces implemented the scenario they agreed upon.

Read more: http://www.dinarupdates.com/blog/
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Mnt Goat (Dinar Guru) – Okay so where are we now in the investment? …I did dig deeper and found that the rollout is being stalled due to two items: First issue are the mandates to pay the salaries, retirees and pensions and to be all caught up in reoccurring debt. Second is budgetary issues. They need to resolve these issues including the Article 140 issues with Kurdistan. We know that the KRG is the main reason why the budget is not being passed. So they already had a reading of the budget. The Iraqi Euphrates reports that the legal committee confirmed that parliament will complete the second reading of the budget during the meeting on Sunday, while pointing out that the proposed vote will be after four days. [post 1 of 2….stay tuned]
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Mnt Goat (Dinar Guru) – So are they targeting to have the FOREX rates out before this Kuwaiti Donor Conference? I am being told they had targeted for this weeks ago and so this is why they are rushing the budget now before parliament. The conference runs from Feb 12th thru Feb 14th. If you look at the recent news and look at the date there is no way they are going to have this budget passed before the Donor Conference. So I do not believe this will have any impact on getting the RV any sooner…it is looking like maybe by the end of next week, at the earliest. [post 2 of 2]
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Frank26 (Dinar Guru) – IN TEAM CHAT…I GAVE …3 POWERFUL THINGS TO CONSIDER…THEN ONE FINAL ONE. FOR THE REST OF KONA… […Can you give us a hint…please!] …IMO…IT’S NOT THAT THEY THINK NOR CONSIDER THE RI….IT IS THAT THEY DO IT. OUR TEAMS HAVE NOTICED A NEW PATTERN WITH AMERICAN BANKS: MANY OF THE “FOUR” ARE SENDING THEIR CUSTOMERS NEW PROCEDURES ON FOREIGN CURRENCY TRANSFERS…VIA WIRING OR JUST ABOUT THEIR ACCOUNTS. IF THIS WAS JUST ON ”CURRENCIES” …THEN THAT WOULD BE NORMAL…BUT…THEY TARGET “FOREIGN CURRENCIES”! ALSO…BANK ANNOUNCEMENTS ARE NORMALLY DONE AT THE START OF A YEAR…NOT IN THE MIDDLE OF FEBRUARY IMO. …NEW ATTITUDE.
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Chattels (Dinar Guru) – I was asked whether I thought that the rate, impliedly ” new rate ” was in the budget. I seriously doubt that any increase in the value of the dinar is going to be forecast in / by the budget. …there is a discernable rate / value to the dinar evinced in the budget. That value in my time has always been the current value of the dinar. The budget is a months long process. Is Iraq going to announce an increase in the value of the dinar in their draft budget? I don’t think so.
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Former minister: $ 500 billion will return to the state by applying the law “Where do you get this”

Baghdad – Mawazine News – Former Minister of Water Resources Mohsen Al-Shammari revealed that 500 billion dollars will be returned to the State Treasury in the event that a law is applied where you come from (better translated “Where did you get this”).

The House of Representatives on Saturday, during the session of the House of Representatives first reading of the proposed law on graft “Where you get this.”

“Former Minister of Water Resources Mohsen al-Shammari, it is likely to recover 500 billion dollars to the state treasury if the law applies” Where do you get this? “…

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

BGG ~ 500 Billion USD is an awful lot of money… especially when you consider Iraq is only asking for 100 Billion for their COMPLETE rebuilding process.

This is the size and scope of their corruption problem. This bill will be a problem. Everyone voting on it is crooked. Kinda’ like trying to get term limits passed here.

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G-Lin (Dinar Guru) – Article: “Financial Advisor-Abadi: the agreement with the IMF is forcing the Government to “observe” Quote: “Saleh noted…another important thing is the Conference Kuwait, how Iraq can go to a Of the Conference and communicate with the donor countries and is not able to adopt balanced? This is a very negative signal for this budget must be authenticated before Kuwait Conference».” Wow…So the IMF is still keeping their foot on Iraq’s neck. Is this saying they need to get their budget in place before Kuwait Conderence? Iraq may very well walk away from this conference empty handed. The west wants assurances…
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Kaperoni (Dinar Guru) – Article: “Financial expert for “Economy News”: Rising oil prices helped lower dollar exchange rates” Quote: “The witness exchange rates declined significantly, as the dollar exchange rate in local markets reached this day, to 123.750 dinars per $ 100.” Sounds like the spread is going down. 1237 to $1.” [...Needs to be around 1202 to begin 90 day IMF compliance, I think?] Once they are in compliance it will be interesting to see if the IMF makes them wait the 90 days. We may see a concession on the time.
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Stryker (Dinar Guru) – Topics “Parliamentary Finance: Things are moving quickly towards the adoption of the budget”; “Masoum stresses Iraq’s urgent need for a solid and open economy“; “Economist reveals the future of the dollar exchange rate in local markets“ …Things are starting to heat up for Iraq; it’s time for action in the form of implementation and less talk!!!
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Kaperoni (Dinar Guru) – Article: “Kuwait is considering converting Iraq’s compensation to the projects and investments” [If they settle it this way it could be 1 step closer to article VIII.] Not related… Article VIII is based on monetary policy and the IMF. If Kuwait agrees to such a thing the benefit would be with the United Nations Security Council closing the reparations file and any subsequent resolutions.

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Masoum stresses Iraq's urgent need for a solid and open economy

Masoum stresses Iraq’s urgent need for a solid and open economy

{Baghdad: Al-Furat News} President Fuad Masum, stressed the urgent need of Iraq to build a solid economy.

“The great victory that our people have achieved on the organization of the terrorist advocate has strengthened Iraq’s regional and international standing,” Masoum said during a speech at a conference of ambassadors and heads of missions in Iraq held by the Foreign Ministry on Friday, adding that international respect for Iraq’s strategic status as a force of terrorism Because it gives him a valuable opportunity to strengthen and multiply the possibilities of progress and construction and achieve security and peace. ”…

Read More: http://www.dinarupdates.com/blog/
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mike (Dinar Guru) – Article: “Washington reaffirms its support for the Iraqi economy” Iraq’s leadership just don’t get it, the US is ready and chomping at the bit to get the TIFA side of the the project moving and all Iraq has to do is pass the legislation for the banks and the economy and get out of the way. But they don’t and then complain about it. We’re not going to: “give a signal to US companies that Iraq is open for business.”It’s not true, Iraq still has some heavy lifting to do before the country is open for outside investment. Property rights, business ownership, the currency, the banks and the economy are not attractive to US investment on a large scale if it doesn’t pertain to oil, it’s just too risky. Your move Abadi.
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G-Lin (Dinar Guru) – Article: “CBI Signature of the deposit guarantee company” Quote: “In accordance with the duties of the Central Bank of Iraq provided for in its law and in order to ensure the stability of the banking sector and increase confidence in it, “the contract of establishment of the bank deposit guarantee company was signed with the founding body“. This is CBI taking action on a law that was already in place. I have to assume that by the signing of this Doc between the banks and the company providing the insurance for the deposits, this was implemented today. Very much like our FDIC. This is huge news. Investors and the public will now feel safer with their money in the banks. Iraq needed to do this before the Kuwait extravaganza and also it will pull that mattress money out of hiding.
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Enorrste (Dinar Guru) – Article: “Central Bank: Signing a contract to establish a deposit guarantee company with 44 banks” I sense that the IMF is still in the background pushing Iraq forward slowly. Like KAP I’m reluctant to get too excited until we see this actually implemented and deposits start to flow into the banks.
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Adam Montana (Dinar Guru) – Not sure if anyone noticed, but this has been a great week for Dinar. I know, the price didn’t move. We’re not at our “Post RV” destination right now, and that’s a bummer for some people. But let’s get real… back to the basics. Did you see anything BAD about IQD this week? I didn’t think so. How many weeks in a row is it possible that I can say that? More importantly… how many weeks in a row can that be said without something breaking?!! We’re close. It’s only a matter of time, a practice in patience, and some sweet sweet victory soon…It’s going to happen, and no amount of analyzation or hypothesizing on my part will change it.
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Special for change .. Abadi of parliament: the international community will not help Iraq if the budget is not approved

Quoting the channel of change .. Abadi of parliament: the international community will not help Iraq if the budget is not approved

Altahreernews.com

BGG ~ Oh wow. We’ll this pretty much spells it out. However, keep in mind – this is likely Abadi talking TO his Parliament, urging them to adopt their budget.

When I initially started down this line of reasoning, I had no idea international sentiment was as tough as it appears to be. WOW!!

The UN, IMF and WB all appear to want to support Iraq in the worst way – but it also very much appears there are results that are yet required.

P.S. This might also explain this very direct, “hands on” push by Abadi to get the budget done.

We wait and watch.

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Kaperoni (Dinar Guru) – Article: “Financial expert for “Economy News”: Rising oil prices helped lower dollar exchange rates ” Sounds like the spread is going down. 1237 to $1.
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Chattels (Dinar Guru) – A red letter day in Iraqi banking reform. Article: “Central Bank: Signing a contract to establish a deposit guarantee company with 44 banks” Quotes: “It is expected that this company will play a major role in protecting the banking sector…” “the company’s capital is 100 billion dinars, of which 55 billion dinars from government and private banks where the proportion of government banks 25% and private banks 30% and the remaining 45 billion dinars will be put for public subscription.” [This is good news. Am I reading this right that the Deposit Insurance program’s funding is $84 million dollars, or 100 billion dollars?] My read on the text is that it is 100 billion dinar (or 84 million dollars ?), of which 55 billion or 55 % is from the government (30%) and private banks (25%) and the remaining 45 billion (45%) will be sold to the public.
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MilitiaMan (Dinar Guru) – Article: “US Deputy Secretary of State: We are committed to Iraq with the strategic framework agreement” Quote: “Announced that the US State Department on Tuesday January 30, 2018, a summary of deputy Minister John Sullivan meetings in Iraq, as he stressed his country ‘s commitment to “strategic framework agreement” with Iraq, ” Looks like they are sealing the deal for everyone to get the picture. They mean business. They didn’t do all this work for nothing. They are doing it all for the Foreign investors. They will need a trade-able international rate a PROVEN one… eos.
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Al-Alusi: Donor countries will not pay one dirham to a corrupt government

Special Mawazine News – Parliamentarian Mithal al-Alusi said on Tuesday that donor countries would not pay one dirham to a government accused of corruption.

“The donor countries can not be assured of their support at the donor conference to be held in Kuwait next month,” Alusi told Mawazine News.

“Those countries will not give Iraq a single dirham, because the government and the conservatives are accused of corruption,” he said.

“The states have informed the Iraqi government and politicians (we will not give you money because you are not trustworthy),” Alusi said.

The government has earlier announced efforts to coordinate with the Kuwaiti government to invite more than 70 countries to the donors conference scheduled to be held in Kuwait in February.

Source

Paul Moseley – “BGG YOU HIT THE NAIL ON THE HEAD”!!

BGG ~ Another accurate portrayal in the news. That is all. Thank you though 🙂

I have been talking the last however long about what Abadi needs to do along the lines of a real fight against corruption and why. Then I came out and did a fairly long dissertation on the matter. Some people didn’t like what I had to say… I only call it the way I see it.

Then this came out today…

…”Those countries will not give Iraq a single dirham, because the government and the conservatives are accused of corruption,” he said…

This might explain the less-than-luke-warm response Abadi got while at Davos.

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BGG – Article: “Associated Press: Donor countries will ask Iraq guarantees not to go to corrupt money” This is EXACTLY the case I have been laying out. Abadi is on a roll – but he needs to keep rolling!!
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mike (Dinar Guru) – Article quote: “…confirmed that Iraq imports 99 percent of its needs, indicating it is estimated at 50 billion dollars.” Iraq is relying on the Balassa-Samuelson effect in order to slowly raise the value of the dinar that exports create. There won’t be any demand for the dinar if they don’t stop importing everything they consume and start creating their own goods.
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Angelquest (Dinar Guru) – Article: “Deputy: The government has completed the file of participation in the donor conference andthe budget must be passed before it is held. . the budget must be ready and voted before the conference” Abadi hasn’t pushed the budget AT ALL – for Oct, Nov, Dec, Jan.. I think he’s ready… and that’s VERY VERY suspicious that he hasn’t.. which makes me think the rate is in it…and…I’m thinking he lowered the Kurds to 12% months ago – intentionally, possibly, just knowing the hoopla it would cause – such as no quorum, etc.. makes sense to me – cuz – he didn’t want that budget seen, or done, or voted yet.. so – tossed a wrench in it on purpose.
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Abadi’s war against corruption must begin with Maliki and his henchmen

Corruption is the most dangerous obstacle against Iraq’s development. As the country enjoys many natural resources like minerals and oil, the international community is concerned with Iraq’s high level of corruption.

Corruption in Iraq has caused severe poverty in Iraq, which led to civil and sectarian strife that caused the extreme damages to the country’s infrastructure.

Shia parties lead corruption…

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

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Post RV Checklist (it’s getting to be that time!! Listen up!!)

Dos and Don’ts of Windfall Wealth:

Treat it like a PowerBall win

– Tell no one, not even family. If you must talk, do so with one who is already in the know.

– Don’t run out & buy new “stuff”. People notice.

– Get an unpublished number and give it out very sparingly.

– Get a tax accountant you can trust to make sure the IRS is satisfied (Certified Opinion is something to look into) and pursue asset protection…

Read Complete List: http://www.dinarupdates.com/showthread.php?18519-The-Post-RV-Checklist-and-Flashback-documents&p=128477#post128477
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If you found this blog, our website or chats helpful – Forward it to a friend!! We couldn’t do it without you!! Thanks – BGG!!

www.DinarUpdates.com

Posted in Dinar Observer | Tagged Dinar, Dinar Chat, dinar detectives, Dinar Guru, dinar gurus, Dinar Info, Dinar News, dinar recaps, dinar recaps blog, Dinar RV, dinar to usd, dinar trade, dinar updates, dinar value, dinar vets, IQD, Iraqi Dinar, Observer, Recaps, Revaluation, Updates | Comments Off

DINAR OBSERVER DAILY – Mar. 7th

Posted on March 7, 2018 by The Dinar Observer

G-Lin (Dinar Guru) – Article: “Law of the National Oil Company .. A new era for the development of the economy” This…art. tells us that “the Iraqi National Oil Company will be the second largest oil company in the world after Aramco and the largest of all international oil companies. Good stuff. How can Iraq continue to conduct business with a programed artificial devalued rate and operate as the 2nd largest oil co. in the world? Doesn’t make sense at all to me. They also are beefing up their export industry and that is what we need to see. The tradable international rate will need to be in place IMO.
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The provincial government announces a political meeting on the budget and send a message to Baghdad

Article Credit: shafaaq.com

BGG ~ This is almost comical… Think about this for a sec…

These guys, none of whom are elected and aren’t regional MP’s (because the Parliament was disbanded by Massoud Barzani) – are only advisers to Nerchivan Barzani who wasn’t elected either…

…all get together, look “super-duper” official and “send a message” to Baghdad.

Really?!?

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Sadrists rally against corruption in Baghdad ahead of elections

Supporters of fiercely pro-Iraq Shiite cleric Muqtada al-Sadr gather on Friday at the nation’s capital.

Some held signs reading “the people demand accountability for the corrupt.”

The demonstrators gathered at Tahrir Square, as Iraqi lawmakers are yet to pass a 2018 spending bill.

Others read “million-man march, reformist, electoral, walking towards reform.”

The country is set to hold May 12 parliamentary elections.

Article Credit: Rudaw.net

BGG ~ This may be some of the best news yet. Seeing Sadr and his people on this side of things is a very, very big deal.

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The Wall Street Journal predicts Abadi will remain in office after the May elections

“Nothing fundamentally changes in the way Iraq is governed,” the paper quoted Haddad, an Iraqi political specialist at the National University of Singapore, as saying.

Haddad added: “The election is likely to result from another coalition government headed by Abadi”

“There is no coherent opposition that can easily outperform it,” Haddad said.

Article Credit: baghdadtoday.news (Special Thanks to Charles Bright)

BGG ~ I like the WSJ’s optimism… we all know how accurate they were on the last election they “predicted”. I’m hoping on this one, they are more accurate.

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Iraqi parliament approves $88 billion 2018 budget

By Ahmed Aboulenein and Ahmed Rasheed

BAGHDAD, March 3 (Reuters) – Iraq’s parliament approved a budget on Saturday, lawmakers said, but Kurdish MPs boycotted the vote over their region’s allocation.

The budget of 104 trillion Iraqi dinars ($88 billion) is based on projected oil exports of 3.8 million barrels per day (bpd) at a price of $46.

It envisions government revenues of 91.64 trillion dinars ($77.6 billion) with a deficit of 12.5 trillion dinars ($10.58 billion), according to lawmakers.

The projected 3.8 million bpd exports include a 250,000 bpd contribution from Iraq’s semi-autonomous Kurdistan region.

“We boycotted the vote and there are proposals for Kurdistan to withdraw from the entire political process in Iraq over the unfair treatment we have received,” said Kurdish MP Ashwaq Jaff.

The budget trimmed the Kurdistan Regional Government’s share to 12.67 percent, down from the 17 percent the region has traditionally been entitled to since the fall of Saddam Hussein…

Read More: http://www.dinarupdates.com/blog/
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The Wall Street Journal predicts Abadi will remain in office after the May elections

“Nothing fundamentally changes in the way Iraq is governed,” the paper quoted Haddad, an Iraqi political specialist at the National University of Singapore, as saying.

Haddad added: “The election is likely to result from another coalition government headed by Abadi”…

Read More: http://www.dinarupdates.com/blog/
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Kurdish official: Baghdad committees completed the audit of salaries of the region by 96%

Article Credit: alforatnews.com (Special Thanks to Charles Bright)

BGG ~ My first reaction is…

They had to do an AUDIT Because the CROOKED Kurdish leadership was asking for salary money for 50,000 employees that didn’t exist!! It’s no wonder Baghdad kicked them in the 8@!!$$ with 12.5% of the budget thing…

Also, this title is a little misleading, the real version is more like – they have finished (reportedly) 96% of the audit. Meaning: they are NEARLY done (with the AUDIT). Not actually done.

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The stability of the dollar exchange rate against the Iraqi dinar

(Independent) … The prices of the dollar exchange rate stabilized on the Stock Exchange and local markets on Tuesday (February 27, 2018).

Kifah Stock Exchange – Baghdad 122,000 dinars, the same price for Monday.

Selling and buying prices in banking shops:

Selling price of the dollar = 122,500 dinars.

The price of buying the dollar = 121.500 dinars.

Article Credit: mustaqila.com

BGG ~ This was from yesterday… I haven’t seen anything further on the OR/MR parity yet today (it’s what I’ll be watching close for a few days).

It’s is basically saying that after a few days of gains – the value of the Dinar has stabilized for now.

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Nusseiri: The implementation of the strategy of the Central Bank contributed to the improvement of the dinar exchange rate against the dollar

Read Full Text: http://www.dinarupdates.com/showthread.php?56381-The-implementation-of-the-strategy-of-the-CBI-contributed-to-the-Dinar-improvement

(Special Thanks to Vernell)
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BGG Q & A:

Q: What is this 90 day 2 % everyone talking about has it started and does it mean we have to have 2 % for 90 days before a rv ?

A: If I recall correctly, the “IMF 2% rule” refers to the spread between the Official rate and Market rate of the currency on any given day.

The rule is, basically – they must maintain this 2% (or less) gap for at least 90 days prior to accepting IMF Article 8 general obligations (as a member country) and concurrently from then on. Now – would the IMF allow them some latitude on the 90 day entry point? Possibly.

However, the real issue everyone is stewing over is this…

Does this recent closing of the gap between the “Official rate” and “Market rate” forecast some coming change or is it much ado about nothing?

There are articles regularly touting the tightening of this gap… or the “Strengthening of the Dinar against the Dollar” or some other various titles along those same lines. Ask yourself why? Because they know what it means.

Whichever side of the fence you are on here, this tightening of the OR/MR gap is the single most visible, interesting and encouraging “data point” we’ve seen in a very, very long time…

Read More: http://www.dinarupdates.com/blog/
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Sudani: Iraq is moving towards a market economy

The Sudani, said «the Ministry of Labor and Social Affairs and its supporters began to pay attention to issues of poverty and unemployment through the enactment of new laws».

Article Credit: alsabaah.iq (Special Thanks to Tim Tarkington)
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Today, the dollar is falling against the Iraqi dinar

(Independent) .. The prices of the dollar exchange rate resumed the decline with the beginning of this week on the stock market and local markets on Saturday (24 February 2018).

Kifah Stock Exchange – Baghdad 122.250 dinars, while prices for Thursday 122,500 dinars.

Selling and buying prices in banking shops:

Selling price of the dollar = 122.750 dinars.

The price of buying the dollar = 121.750 dinars

Article Credit: mustaqila.com (Special Thanks to both Charles and Tim)
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Central_Bank_of_Iraq_Logo

Central Bank of Iraq Auctions $194,883,291 on 22 February 2018

The latest auction was attended by 45 banks and 9 remittance companies. The same institutions attended the auction held on February 22 compared to the previous auction.

Data for the February 22 auction was made public by CBI Announcement Number 3641.

Read More: http://www.dinarupdates.com/blog/
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[Based on Kaperoni’s 8 dinar commission rule some feel the percentage difference between the official rate and market rate needs to be 1214 to meet the IMF 2% stipulation. However, no one seems to be clear on how to calculate the number – opinions range from 1203 to 1214]

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URGENT The dollar is blowing in Iraq

Foreign exchange markets in Baghdad, on Wednesday morning, a significant decline in the exchange rate of the dollar against the Iraqi dinar.

The market price in the Kifah Exchange in Baghdad was 1220 dinars per dollar, or 122 thousand dinars for one hundred dollars.

The prices of selling and buying dollars in banking companies were:

The selling price of one dollar 1225 dinars, or 122 thousand and 500 dinars, for one hundred dollars.

And the purchase price of the dollar is 1215 dinars, or 121 thousand and 500 dinars, for one hundred dollars.

Foreign Exchange Rates:

EUR World Price: 100 Euro = 123.23

GBP The World Price: 100 Bounds = 139.85 $ The

Turkish Lira The International Price: $ 100 = 379.15 Turkish Lira.

Article Credit: http://www.alliraqnews.com (Special Thanks to Tim Tarkington)

BGG ~ Listen folks, this is good news. The Dinar is getting stronger. It is harder to get (over here), the price is going up and the exchange rate is better over there (for us). None of this is bad. It is all good.

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Erbil-Baghdad Agreement Imminent

ERBIL — The Kurdistan Region and Iraqi governments are close to reach an agreement over their disputes in the nearest future, said a source close to Iraqi Prime Minister Haider al-Abadi.

The high-level delegations from Erbil and Baghdad are due to resolve the differences over Kurdistan Region’s airports, customs and border lines, the source told Shafaq News.

He further revealed that the Kurdistan Regional Government has already agreed with most of the points in the political deal, the rest would remain under discussion.

Iraqi Prime Minister Haider al-Abadi said earlier the day that Erbil and Sulaymaniyah airports would soon be re-opened after over four months since Baghdad imposed a flight ban on the Kurdish region.

Article Credit: basnews.com (Special Thanks to Tim Tarkington)
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sandyf (Dinar Guru) – …it is almost odds on certainty that the IQD will never float.

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The date of voting on the budget of 2018

Baghdad News – A member of the Finance Committee of Parliament Mahasen Hamdoun, said Monday that next Tuesday is the date of voting on the budget in 2018.

Hamadoun said in a press statement that ‘the Finance Committee continues its meetings to discuss the budget and will not clear things, only on the day of voting on it’.

“The vote on the budget will be next Tuesday,” she said, stressing that ‘deductions of salaries of employees stopped in the budget’.

Read More: http://www.dinarupdates.com/showthread.php?56313-Disclosure-of-the-date-of-voting-on-the-budget-of-2018
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Iraq prime minister promises corruption crackdown, says laws will protect nervous foreign investors

Read Full Text with Commentary: http://www.dinarupdates.com/blog/
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Float the Iraqi dinar and stop the auction currency is the only solution of the Iraqi economy.

Read Full Text with Commentary: http://www.dinarupdates.com/blog/
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COMMITTEE OF ACCOUNTABILITY: ANNOUNCE THE NAMES OF 5,000 PEOPLE INCLUDED IN THE SEIZURE OF FUNDS THIS WEEK

Al-Suhail, who is covered by the decision to hold the money, estimated about 5,000 persons, while the names of tens of thousands will be issued and they can be disposed of afterwards.

(Special thanks to Vernell)

BGG ~ Funny how that works… about one day after they realize the world isn’t going to “give them” anymore money, they go back and think about getting it back from the crooked politicians who’ve been stealing from the GOI and the people of Iraq.

According to recent estimates, they could collect as much as 500 BILLION (USD) back to the state treasury by enacting and enforcing simple legislation they’ve had in the works for some time now.

P.S. as reported in major OP ED’s in Baghdad recently, Maliki and his henchmen had better wind up on this list…

It is critical to Iraq’s long term success to get a handle on the endemic corruption.

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Central Bank of Iraq Auctions $198,173,094 on 15 February 2018

The latest auction was attended by 45 banks and 9 remittance companies. The same institutions attended the auction held on February 15 compared to the previous auction.

Data for the February 15 auction was made public by CBI Announcement Number 3636.

BGG ~ I will continue to highlight the regular auctions. After recently asking around about the reasons for the “tightening” of the supply of Dinar in the U.S… one of the main reasons I got was the fewer and fewer auctions. Wait – what?!? They are still having fairly robust auctions.

So, obviously, that’s not true… so what is it?

Another possibility is this MASSIVE financial embargo on Kurdistan, provided this was where currency was coming from.

I have also heard of a couple of major players talking about having money in – or being able to get money out of Kurdistan… all baloney. Kurdistan has been under very tight controls since snubbing the world diplomats with this sham vote pushed by Barzani.

Why was it a sham vote? Simple fact: you can’t just take what isn’t yours to take just because you vote on it.

Back to my previous rebuttal – anyone who actually had money in Kurdistan would have either gotten it out or is REALLY “up a creek”… likely just more B.S.

So…

1) Fewer auctions?

2) Tightening borders (fewer exports)?

3) More demand? I sincerely doubt it.

4) IMHO and most likely, the supply here in the U.S. from disgruntled sellers, which is likely where the bulk of the U.S. supply really comes from, and current interested buyers has finally reached a point of parity where the “supply – demand” scales are more evenly balanced.

Hence, the price goes up.

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Iraq receives nearly $ 11 billion from Arab and foreign countries for reconstruction

Baghdad Mawazine News – Iraq received nearly 11 billion dollars from Arab and foreign countries during the Kuwait International Conference for the Reconstruction of Iraq.

Saudi Arabia’s foreign minister, Adel al-Jubeir, said that “the kingdom has allocated $ 1.5 billion for reconstruction projects in Iraq and the financing of Saudi exports to it.”

While the Turkish Foreign Minister Mouloud Javishoglu, during the conference, to provide five billion dollars to support the reconstruction of Iraq.

Iraq also received $ 100 million as a contribution from Australia to reconstruction, while Britain pledged up to $ 1 billion a year to Iraq in the form of export credit over 10 years.

Finland has donated $ 10 million to carry out humanitarian projects in Iraq and has pledged to train Iraqi forces.

While Qatar allocated one billion dollars in the form of loans and investments and export facilities for its products in Iraq.

BGG ~ I keep hearing the complaints about Iraq getting all kinds of “welfare” as though they are living on these “pending grants” and IMF loans (instead of revaluing their currency).

I would be careful in assuming this is the situation or that any of this is any kind of “hold-up” to economic and monetary reform. I doubt so very much.

Everyone (as in – the investors and countries) wants to get close, be in on the beginning, but not so much so that they are just giving “hand-outs” with nothing in return. Iraq has to do their part. I get a little bit of the sense Iraq is kind of getting the cart before the horse with this latest conference.

It has long been speculated (and openly reported by Iraqi economists) Iraq would be hit with a “wall” of investment capitol when they truly started economic, monetary and governance reforms. However, it does not appear to me we are quite to this point yet. Everyone wants in – Iraq just don’t have the temperature quite right yet.

Keep in mind… these are “allocations”, “pledges” and “financing” and “projected exports” for projects. Basically these are all “feel good, sweet nothings” at a conference.

Next Monday we’ll see what’s what. Thus far they are well short of the 100 billion in give-aways (and grants) they were asking for.

On the other hand – why should they be given anything (for free)? If they would just pass corruption law(s) currently caught up in their Parliament’s legislative log-jam and then enforce them, their state treasury will swell by an estimated 500 billion (as they have plainly reported).

No need for anything from anyone.

Further, it is my opinion, Iraq should be held to account for (that means – PAY FOR) the military and humanitarian aid tab they’ve run up over the last few years.

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Iraq is ready to reform the financial and economic sectors

Economy News Baghdad: UN Secretary-General Antonio Guterich said Iraq was ready to reform the financial and economic sectors.

“The United Nations launches a grant program that helps repair infrastructure, improves daily life and helps improve economic reforms and revitalize areas that have been damaged,” he said.

(Special Thanks to Loopster for sharing)
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World Bank: Iraq is the best place to invest in the world

Read More: http://www.dinarupdates.com/showthread.php?56255-World-Bank-Iraq-is-the-best-place-to-invest-in-the-world
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The @IraqiGovt is implementing reforms

Follow us on twitter @DinarUpdates !!

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Sources: away from the Kurds National Alliance and the Union of forces agree to pass the budget

Image result for picture of Kurdish National Alliance

Read more: http://www.dinarupdates.com/blog/
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Former minister: $ 500 billion will return to the state by applying the law “Where do you get this”

The House of Representatives on Saturday, during the session of the House of Representatives first reading of the proposed law on graft “Where you get this.”

“Former Minister of Water Resources Mohsen al-Shammari, it is likely to recover 500 billion dollars to the state treasury if the law applies” Where do you get this? “…

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

BGG ~ 500 Billion USD is an awful lot of money… especially when you consider Iraq is only asking for 100 Billion for their COMPLETE rebuilding process.

This is the size and scope of their corruption problem. This bill will be a problem. Everyone voting on it is crooked. Kinda’ like trying to get term limits passed here.

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Masoum stresses Iraq's urgent need for a solid and open economy

Masoum stresses Iraq’s urgent need for a solid and open economy

{Baghdad: Al-Furat News} President Fuad Masum, stressed the urgent need of Iraq to build a solid economy.

Read More: http://www.dinarupdates.com/blog/
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Special for change .. Abadi of parliament: the international community will not help Iraq if the budget is not approved

Quoting the channel of change .. Abadi of parliament: the international community will not help Iraq if the budget is not approved

Altahreernews.com

BGG ~ Oh wow. We’ll this pretty much spells it out. However, keep in mind – this is likely Abadi talking TO his Parliament, urging them to adopt their budget.

When I initially started down this line of reasoning, I had no idea international sentiment was as tough as it appears to be. WOW!!

The UN, IMF and WB all appear to want to support Iraq in the worst way – but it also very much appears there are results that are yet required.

P.S. This might also explain this very direct, “hands on” push by Abadi to get the budget done.

We wait and watch.

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Al-Alusi: Donor countries will not pay one dirham to a corrupt government

Special Mawazine News – Parliamentarian Mithal al-Alusi said on Tuesday that donor countries would not pay one dirham to a government accused of corruption.

“The donor countries can not be assured of their support at the donor conference to be held in Kuwait next month,” Alusi told Mawazine News.

“Those countries will not give Iraq a single dirham, because the government and the conservatives are accused of corruption,” he said.

“The states have informed the Iraqi government and politicians (we will not give you money because you are not trustworthy),” Alusi said.

The government has earlier announced efforts to coordinate with the Kuwaiti government to invite more than 70 countries to the donors conference scheduled to be held in Kuwait in February.

Source

Paul Moseley – “BGG YOU HIT THE NAIL ON THE HEAD”!!

BGG ~ Another accurate portrayal in the news. That is all. Thank you though 🙂

I have been talking the last however long about what Abadi needs to do along the lines of a real fight against corruption and why. Then I came out and did a fairly long dissertation on the matter. Some people didn’t like what I had to say… I only call it the way I see it.

Then this came out today…

…”Those countries will not give Iraq a single dirham, because the government and the conservatives are accused of corruption,” he said…

This might explain the less-than-luke-warm response Abadi got while at Davos.

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Abadi’s war against corruption must begin with Maliki and his henchmen

Corruption in Iraq has caused severe poverty in Iraq, which led to civil and sectarian strife that caused the extreme damages to the country’s infrastructure.

Shia parties lead corruption…

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

______________________________________________________________

Post RV Checklist (it’s getting to be that time!! Listen up!!)

Dos and Don’ts of Windfall Wealth:

Treat it like a PowerBall win

– Tell no one, not even family. If you must talk, do so with one who is already in the know.

– Don’t run out & buy new “stuff”. People notice.

– Get an unpublished number and give it out very sparingly.

– Get a tax accountant you can trust to make sure the IRS is satisfied (Certified Opinion is something to look into) and pursue asset protection…

If you found this blog, our website or chats helpful – Forward it to a friend!! We couldn’t do it without you!! Thanks – BGG!!

www.DinarUpdates.com

DINAR OBSERVER DAILY – Mar. 6th

Posted on March 6, 2018 by The Dinar Observer

Sadrists rally against corruption in Baghdad ahead of elections

Supporters of fiercely pro-Iraq Shiite cleric Muqtada al-Sadr gather on Friday at the nation’s capital.

Some held signs reading “the people demand accountability for the corrupt.”

The demonstrators gathered at Tahrir Square, as Iraqi lawmakers are yet to pass a 2018 spending bill.

Others read “million-man march, reformist, electoral, walking towards reform.”

The country is set to hold May 12 parliamentary elections.

Article Credit: Rudaw.net

BGG ~ This may be some of the best news yet. Seeing Sadr and his people on this side of things is a very, very big deal.

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The Wall Street Journal predicts Abadi will remain in office after the May elections

“Nothing fundamentally changes in the way Iraq is governed,” the paper quoted Haddad, an Iraqi political specialist at the National University of Singapore, as saying.

Haddad added: “The election is likely to result from another coalition government headed by Abadi”

“There is no coherent opposition that can easily outperform it,” Haddad said.

Article Credit: baghdadtoday.news (Special Thanks to Charles Bright)

BGG ~ I like the WSJ’s optimism… we all know how accurate they were on the last election they “predicted”. I’m hoping on this one, they are more accurate.

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Iraqi parliament approves $88 billion 2018 budget

By Ahmed Aboulenein and Ahmed Rasheed

BAGHDAD, March 3 (Reuters) – Iraq’s parliament approved a budget on Saturday, lawmakers said, but Kurdish MPs boycotted the vote over their region’s allocation.

The budget of 104 trillion Iraqi dinars ($88 billion) is based on projected oil exports of 3.8 million barrels per day (bpd) at a price of $46.

It envisions government revenues of 91.64 trillion dinars ($77.6 billion) with a deficit of 12.5 trillion dinars ($10.58 billion), according to lawmakers.

The projected 3.8 million bpd exports include a 250,000 bpd contribution from Iraq’s semi-autonomous Kurdistan region.

“We boycotted the vote and there are proposals for Kurdistan to withdraw from the entire political process in Iraq over the unfair treatment we have received,” said Kurdish MP Ashwaq Jaff.

The budget trimmed the Kurdistan Regional Government’s share to 12.67 percent, down from the 17 percent the region has traditionally been entitled to since the fall of Saddam Hussein…

Read More: http://www.dinarupdates.com/blog/
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The Wall Street Journal predicts Abadi will remain in office after the May elections

“Nothing fundamentally changes in the way Iraq is governed,” the paper quoted Haddad, an Iraqi political specialist at the National University of Singapore, as saying.

Haddad added: “The election is likely to result from another coalition government headed by Abadi”…

Read More: http://www.dinarupdates.com/blog/
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Kurdish official: Baghdad committees completed the audit of salaries of the region by 96%

Article Credit: alforatnews.com (Special Thanks to Charles Bright)

BGG ~ My first reaction is…

They had to do an AUDIT Because the CROOKED Kurdish leadership was asking for salary money for 50,000 employees that didn’t exist!! It’s no wonder Baghdad kicked them in the 8@!!$$ with 12.5% of the budget thing…

Also, this title is a little misleading, the real version is more like – they have finished (reportedly) 96% of the audit. Meaning: they are NEARLY done (with the AUDIT). Not actually done.

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The stability of the dollar exchange rate against the Iraqi dinar

(Independent) … The prices of the dollar exchange rate stabilized on the Stock Exchange and local markets on Tuesday (February 27, 2018).

Kifah Stock Exchange – Baghdad 122,000 dinars, the same price for Monday.

Selling and buying prices in banking shops:

Selling price of the dollar = 122,500 dinars.

The price of buying the dollar = 121.500 dinars.

Article Credit: mustaqila.com

BGG ~ This was from yesterday… I haven’t seen anything further on the OR/MR parity yet today (it’s what I’ll be watching close for a few days).

It’s is basically saying that after a few days of gains – the value of the Dinar has stabilized for now.

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Nusseiri: The implementation of the strategy of the Central Bank contributed to the improvement of the dinar exchange rate against the dollar

Read Full Text: http://www.dinarupdates.com/showthread.php?56381-The-implementation-of-the-strategy-of-the-CBI-contributed-to-the-Dinar-improvement

(Special Thanks to Vernell)
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BGG Q & A:

Q: What is this 90 day 2 % everyone talking about has it started and does it mean we have to have 2 % for 90 days before a rv ?

A: If I recall correctly, the “IMF 2% rule” refers to the spread between the Official rate and Market rate of the currency on any given day.

The rule is, basically – they must maintain this 2% (or less) gap for at least 90 days prior to accepting IMF Article 8 general obligations (as a member country) and concurrently from then on. Now – would the IMF allow them some latitude on the 90 day entry point? Possibly.

However, the real issue everyone is stewing over is this…

Does this recent closing of the gap between the “Official rate” and “Market rate” forecast some coming change or is it much ado about nothing?

There are articles regularly touting the tightening of this gap… or the “Strengthening of the Dinar against the Dollar” or some other various titles along those same lines. Ask yourself why? Because they know what it means.

Whichever side of the fence you are on here, this tightening of the OR/MR gap is the single most visible, interesting and encouraging “data point” we’ve seen in a very, very long time…

Read More: http://www.dinarupdates.com/blog/
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Sudani: Iraq is moving towards a market economy

The Sudani, said «the Ministry of Labor and Social Affairs and its supporters began to pay attention to issues of poverty and unemployment through the enactment of new laws».

Article Credit: alsabaah.iq (Special Thanks to Tim Tarkington)
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Today, the dollar is falling against the Iraqi dinar

(Independent) .. The prices of the dollar exchange rate resumed the decline with the beginning of this week on the stock market and local markets on Saturday (24 February 2018).

Kifah Stock Exchange – Baghdad 122.250 dinars, while prices for Thursday 122,500 dinars.

Selling and buying prices in banking shops:

Selling price of the dollar = 122.750 dinars.

The price of buying the dollar = 121.750 dinars

Article Credit: mustaqila.com (Special Thanks to both Charles and Tim)
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Central_Bank_of_Iraq_Logo

Central Bank of Iraq Auctions $194,883,291 on 22 February 2018

The latest auction was attended by 45 banks and 9 remittance companies. The same institutions attended the auction held on February 22 compared to the previous auction.

Data for the February 22 auction was made public by CBI Announcement Number 3641.

Read More: http://www.dinarupdates.com/blog/
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[Based on Kaperoni’s 8 dinar commission rule some feel the percentage difference between the official rate and market rate needs to be 1214 to meet the IMF 2% stipulation. However, no one seems to be clear on how to calculate the number – opinions range from 1203 to 1214]

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URGENT The dollar is blowing in Iraq

Foreign exchange markets in Baghdad, on Wednesday morning, a significant decline in the exchange rate of the dollar against the Iraqi dinar.

The market price in the Kifah Exchange in Baghdad was 1220 dinars per dollar, or 122 thousand dinars for one hundred dollars.

The prices of selling and buying dollars in banking companies were:

The selling price of one dollar 1225 dinars, or 122 thousand and 500 dinars, for one hundred dollars.

And the purchase price of the dollar is 1215 dinars, or 121 thousand and 500 dinars, for one hundred dollars.

Foreign Exchange Rates:

EUR World Price: 100 Euro = 123.23

GBP The World Price: 100 Bounds = 139.85 $ The

Turkish Lira The International Price: $ 100 = 379.15 Turkish Lira.

Article Credit: http://www.alliraqnews.com (Special Thanks to Tim Tarkington)

BGG ~ Listen folks, this is good news. The Dinar is getting stronger. It is harder to get (over here), the price is going up and the exchange rate is better over there (for us). None of this is bad. It is all good.

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Erbil-Baghdad Agreement Imminent

ERBIL — The Kurdistan Region and Iraqi governments are close to reach an agreement over their disputes in the nearest future, said a source close to Iraqi Prime Minister Haider al-Abadi.

The high-level delegations from Erbil and Baghdad are due to resolve the differences over Kurdistan Region’s airports, customs and border lines, the source told Shafaq News.

He further revealed that the Kurdistan Regional Government has already agreed with most of the points in the political deal, the rest would remain under discussion.

Iraqi Prime Minister Haider al-Abadi said earlier the day that Erbil and Sulaymaniyah airports would soon be re-opened after over four months since Baghdad imposed a flight ban on the Kurdish region.

Article Credit: basnews.com (Special Thanks to Tim Tarkington)
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sandyf (Dinar Guru) – …it is almost odds on certainty that the IQD will never float.

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The date of voting on the budget of 2018

Baghdad News – A member of the Finance Committee of Parliament Mahasen Hamdoun, said Monday that next Tuesday is the date of voting on the budget in 2018.

Hamadoun said in a press statement that ‘the Finance Committee continues its meetings to discuss the budget and will not clear things, only on the day of voting on it’.

“The vote on the budget will be next Tuesday,” she said, stressing that ‘deductions of salaries of employees stopped in the budget’.

Read More: http://www.dinarupdates.com/showthread.php?56313-Disclosure-of-the-date-of-voting-on-the-budget-of-2018
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Iraq prime minister promises corruption crackdown, says laws will protect nervous foreign investors

Read Full Text with Commentary: http://www.dinarupdates.com/blog/
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______________________________________________________________

Float the Iraqi dinar and stop the auction currency is the only solution of the Iraqi economy.

Read Full Text with Commentary: http://www.dinarupdates.com/blog/
______________________________________________________________

COMMITTEE OF ACCOUNTABILITY: ANNOUNCE THE NAMES OF 5,000 PEOPLE INCLUDED IN THE SEIZURE OF FUNDS THIS WEEK

Al-Suhail, who is covered by the decision to hold the money, estimated about 5,000 persons, while the names of tens of thousands will be issued and they can be disposed of afterwards.

(Special thanks to Vernell)

BGG ~ Funny how that works… about one day after they realize the world isn’t going to “give them” anymore money, they go back and think about getting it back from the crooked politicians who’ve been stealing from the GOI and the people of Iraq.

According to recent estimates, they could collect as much as 500 BILLION (USD) back to the state treasury by enacting and enforcing simple legislation they’ve had in the works for some time now.

P.S. as reported in major OP ED’s in Baghdad recently, Maliki and his henchmen had better wind up on this list…

It is critical to Iraq’s long term success to get a handle on the endemic corruption.

______________________________________________________________

Central Bank of Iraq Auctions $198,173,094 on 15 February 2018

The latest auction was attended by 45 banks and 9 remittance companies. The same institutions attended the auction held on February 15 compared to the previous auction.

Data for the February 15 auction was made public by CBI Announcement Number 3636.

BGG ~ I will continue to highlight the regular auctions. After recently asking around about the reasons for the “tightening” of the supply of Dinar in the U.S… one of the main reasons I got was the fewer and fewer auctions. Wait – what?!? They are still having fairly robust auctions.

So, obviously, that’s not true… so what is it?

Another possibility is this MASSIVE financial embargo on Kurdistan, provided this was where currency was coming from.

I have also heard of a couple of major players talking about having money in – or being able to get money out of Kurdistan… all baloney. Kurdistan has been under very tight controls since snubbing the world diplomats with this sham vote pushed by Barzani.

Why was it a sham vote? Simple fact: you can’t just take what isn’t yours to take just because you vote on it.

Back to my previous rebuttal – anyone who actually had money in Kurdistan would have either gotten it out or is REALLY “up a creek”… likely just more B.S.

So…

1) Fewer auctions?

2) Tightening borders (fewer exports)?

3) More demand? I sincerely doubt it.

4) IMHO and most likely, the supply here in the U.S. from disgruntled sellers, which is likely where the bulk of the U.S. supply really comes from, and current interested buyers has finally reached a point of parity where the “supply – demand” scales are more evenly balanced.

Hence, the price goes up.

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Iraq receives nearly $ 11 billion from Arab and foreign countries for reconstruction

Baghdad Mawazine News – Iraq received nearly 11 billion dollars from Arab and foreign countries during the Kuwait International Conference for the Reconstruction of Iraq.

Saudi Arabia’s foreign minister, Adel al-Jubeir, said that “the kingdom has allocated $ 1.5 billion for reconstruction projects in Iraq and the financing of Saudi exports to it.”

While the Turkish Foreign Minister Mouloud Javishoglu, during the conference, to provide five billion dollars to support the reconstruction of Iraq.

Iraq also received $ 100 million as a contribution from Australia to reconstruction, while Britain pledged up to $ 1 billion a year to Iraq in the form of export credit over 10 years.

Finland has donated $ 10 million to carry out humanitarian projects in Iraq and has pledged to train Iraqi forces.

While Qatar allocated one billion dollars in the form of loans and investments and export facilities for its products in Iraq.

BGG ~ I keep hearing the complaints about Iraq getting all kinds of “welfare” as though they are living on these “pending grants” and IMF loans (instead of revaluing their currency).

I would be careful in assuming this is the situation or that any of this is any kind of “hold-up” to economic and monetary reform. I doubt so very much.

Everyone (as in – the investors and countries) wants to get close, be in on the beginning, but not so much so that they are just giving “hand-outs” with nothing in return. Iraq has to do their part. I get a little bit of the sense Iraq is kind of getting the cart before the horse with this latest conference.

It has long been speculated (and openly reported by Iraqi economists) Iraq would be hit with a “wall” of investment capitol when they truly started economic, monetary and governance reforms. However, it does not appear to me we are quite to this point yet. Everyone wants in – Iraq just don’t have the temperature quite right yet.

Keep in mind… these are “allocations”, “pledges” and “financing” and “projected exports” for projects. Basically these are all “feel good, sweet nothings” at a conference.

Next Monday we’ll see what’s what. Thus far they are well short of the 100 billion in give-aways (and grants) they were asking for.

On the other hand – why should they be given anything (for free)? If they would just pass corruption law(s) currently caught up in their Parliament’s legislative log-jam and then enforce them, their state treasury will swell by an estimated 500 billion (as they have plainly reported).

No need for anything from anyone.

Further, it is my opinion, Iraq should be held to account for (that means – PAY FOR) the military and humanitarian aid tab they’ve run up over the last few years.

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Iraq is ready to reform the financial and economic sectors

Economy News Baghdad: UN Secretary-General Antonio Guterich said Iraq was ready to reform the financial and economic sectors.

“The United Nations launches a grant program that helps repair infrastructure, improves daily life and helps improve economic reforms and revitalize areas that have been damaged,” he said.

(Special Thanks to Loopster for sharing)
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World Bank: Iraq is the best place to invest in the world

Read More: http://www.dinarupdates.com/showthread.php?56255-World-Bank-Iraq-is-the-best-place-to-invest-in-the-world
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The @IraqiGovt is implementing reforms

Follow us on twitter @DinarUpdates !!

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Sources: away from the Kurds National Alliance and the Union of forces agree to pass the budget

Image result for picture of Kurdish National Alliance

Read more: http://www.dinarupdates.com/blog/
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Former minister: $ 500 billion will return to the state by applying the law “Where do you get this”

The House of Representatives on Saturday, during the session of the House of Representatives first reading of the proposed law on graft “Where you get this.”

“Former Minister of Water Resources Mohsen al-Shammari, it is likely to recover 500 billion dollars to the state treasury if the law applies” Where do you get this? “…

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

BGG ~ 500 Billion USD is an awful lot of money… especially when you consider Iraq is only asking for 100 Billion for their COMPLETE rebuilding process.

This is the size and scope of their corruption problem. This bill will be a problem. Everyone voting on it is crooked. Kinda’ like trying to get term limits passed here.

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Masoum stresses Iraq's urgent need for a solid and open economy

Masoum stresses Iraq’s urgent need for a solid and open economy

{Baghdad: Al-Furat News} President Fuad Masum, stressed the urgent need of Iraq to build a solid economy.

Read More: http://www.dinarupdates.com/blog/
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Special for change .. Abadi of parliament: the international community will not help Iraq if the budget is not approved

Quoting the channel of change .. Abadi of parliament: the international community will not help Iraq if the budget is not approved

Altahreernews.com

BGG ~ Oh wow. We’ll this pretty much spells it out. However, keep in mind – this is likely Abadi talking TO his Parliament, urging them to adopt their budget.

When I initially started down this line of reasoning, I had no idea international sentiment was as tough as it appears to be. WOW!!

The UN, IMF and WB all appear to want to support Iraq in the worst way – but it also very much appears there are results that are yet required.

P.S. This might also explain this very direct, “hands on” push by Abadi to get the budget done.

We wait and watch.

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Al-Alusi: Donor countries will not pay one dirham to a corrupt government

Special Mawazine News – Parliamentarian Mithal al-Alusi said on Tuesday that donor countries would not pay one dirham to a government accused of corruption.

“The donor countries can not be assured of their support at the donor conference to be held in Kuwait next month,” Alusi told Mawazine News.

“Those countries will not give Iraq a single dirham, because the government and the conservatives are accused of corruption,” he said.

“The states have informed the Iraqi government and politicians (we will not give you money because you are not trustworthy),” Alusi said.

The government has earlier announced efforts to coordinate with the Kuwaiti government to invite more than 70 countries to the donors conference scheduled to be held in Kuwait in February.

Source

Paul Moseley – “BGG YOU HIT THE NAIL ON THE HEAD”!!

BGG ~ Another accurate portrayal in the news. That is all. Thank you though 🙂

I have been talking the last however long about what Abadi needs to do along the lines of a real fight against corruption and why. Then I came out and did a fairly long dissertation on the matter. Some people didn’t like what I had to say… I only call it the way I see it.

Then this came out today…

…”Those countries will not give Iraq a single dirham, because the government and the conservatives are accused of corruption,” he said…

This might explain the less-than-luke-warm response Abadi got while at Davos.

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Abadi’s war against corruption must begin with Maliki and his henchmen

Corruption in Iraq has caused severe poverty in Iraq, which led to civil and sectarian strife that caused the extreme damages to the country’s infrastructure.

Shia parties lead corruption…

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

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Post RV Checklist (it’s getting to be that time!! Listen up!!)

Dos and Don’ts of Windfall Wealth:

Treat it like a PowerBall win

– Tell no one, not even family. If you must talk, do so with one who is already in the know.

– Don’t run out & buy new “stuff”. People notice.

– Get an unpublished number and give it out very sparingly.

– Get a tax accountant you can trust to make sure the IRS is satisfied (Certified Opinion is something to look into) and pursue asset protection…

If you found this blog, our website or chats helpful – Forward it to a friend!! We couldn’t do it without you!! Thanks – BGG!!

www.DinarUpdates.com

DINAR OBSERVER DAILY – Mar. 5th

Posted on March 5, 2018 by The Dinar Observer

Sadrists rally against corruption in Baghdad ahead of elections

Supporters of fiercely pro-Iraq Shiite cleric Muqtada al-Sadr gather on Friday at the nation’s capital.

Some held signs reading “the people demand accountability for the corrupt.”

The demonstrators gathered at Tahrir Square, as Iraqi lawmakers are yet to pass a 2018 spending bill.

Others read “million-man march, reformist, electoral, walking towards reform.”

The country is set to hold May 12 parliamentary elections.

Article Credit: Rudaw.net

BGG ~ This may be some of the best news yet. Seeing Sadr and his people on this side of things is a very, very big deal.

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The Wall Street Journal predicts Abadi will remain in office after the May elections

“Nothing fundamentally changes in the way Iraq is governed,” the paper quoted Haddad, an Iraqi political specialist at the National University of Singapore, as saying.

Haddad added: “The election is likely to result from another coalition government headed by Abadi”

“There is no coherent opposition that can easily outperform it,” Haddad said.

Article Credit: baghdadtoday.news (Special Thanks to Charles Bright)

BGG ~ I like the WSJ’s optimism… we all know how accurate they were on the last election they “predicted”. I’m hoping on this one, they are more accurate.

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Iraqi parliament approves $88 billion 2018 budget

By Ahmed Aboulenein and Ahmed Rasheed

BAGHDAD, March 3 (Reuters) – Iraq’s parliament approved a budget on Saturday, lawmakers said, but Kurdish MPs boycotted the vote over their region’s allocation.

The budget of 104 trillion Iraqi dinars ($88 billion) is based on projected oil exports of 3.8 million barrels per day (bpd) at a price of $46.

It envisions government revenues of 91.64 trillion dinars ($77.6 billion) with a deficit of 12.5 trillion dinars ($10.58 billion), according to lawmakers.

The projected 3.8 million bpd exports include a 250,000 bpd contribution from Iraq’s semi-autonomous Kurdistan region.

“We boycotted the vote and there are proposals for Kurdistan to withdraw from the entire political process in Iraq over the unfair treatment we have received,” said Kurdish MP Ashwaq Jaff.

The budget trimmed the Kurdistan Regional Government’s share to 12.67 percent, down from the 17 percent the region has traditionally been entitled to since the fall of Saddam Hussein…

Read More: http://www.dinarupdates.com/blog/
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The Wall Street Journal predicts Abadi will remain in office after the May elections

“Nothing fundamentally changes in the way Iraq is governed,” the paper quoted Haddad, an Iraqi political specialist at the National University of Singapore, as saying.

Haddad added: “The election is likely to result from another coalition government headed by Abadi”…

Read More: http://www.dinarupdates.com/blog/
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Kurdish official: Baghdad committees completed the audit of salaries of the region by 96%

Article Credit: alforatnews.com (Special Thanks to Charles Bright)

BGG ~ My first reaction is…

They had to do an AUDIT Because the CROOKED Kurdish leadership was asking for salary money for 50,000 employees that didn’t exist!! It’s no wonder Baghdad kicked them in the 8@!!$$ with 12.5% of the budget thing…

Also, this title is a little misleading, the real version is more like – they have finished (reportedly) 96% of the audit. Meaning: they are NEARLY done (with the AUDIT). Not actually done.

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The stability of the dollar exchange rate against the Iraqi dinar

(Independent) … The prices of the dollar exchange rate stabilized on the Stock Exchange and local markets on Tuesday (February 27, 2018).

Kifah Stock Exchange – Baghdad 122,000 dinars, the same price for Monday.

Selling and buying prices in banking shops:

Selling price of the dollar = 122,500 dinars.

The price of buying the dollar = 121.500 dinars.

Article Credit: mustaqila.com

BGG ~ This was from yesterday… I haven’t seen anything further on the OR/MR parity yet today (it’s what I’ll be watching close for a few days).

It’s is basically saying that after a few days of gains – the value of the Dinar has stabilized for now.

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Nusseiri: The implementation of the strategy of the Central Bank contributed to the improvement of the dinar exchange rate against the dollar

Read Full Text: http://www.dinarupdates.com/showthread.php?56381-The-implementation-of-the-strategy-of-the-CBI-contributed-to-the-Dinar-improvement

(Special Thanks to Vernell)
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BGG Q & A:

Q: What is this 90 day 2 % everyone talking about has it started and does it mean we have to have 2 % for 90 days before a rv ?

A: If I recall correctly, the “IMF 2% rule” refers to the spread between the Official rate and Market rate of the currency on any given day.

The rule is, basically – they must maintain this 2% (or less) gap for at least 90 days prior to accepting IMF Article 8 general obligations (as a member country) and concurrently from then on. Now – would the IMF allow them some latitude on the 90 day entry point? Possibly.

However, the real issue everyone is stewing over is this…

Does this recent closing of the gap between the “Official rate” and “Market rate” forecast some coming change or is it much ado about nothing?

There are articles regularly touting the tightening of this gap… or the “Strengthening of the Dinar against the Dollar” or some other various titles along those same lines. Ask yourself why? Because they know what it means.

Whichever side of the fence you are on here, this tightening of the OR/MR gap is the single most visible, interesting and encouraging “data point” we’ve seen in a very, very long time…

Read More: http://www.dinarupdates.com/blog/
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Sudani: Iraq is moving towards a market economy

The Sudani, said «the Ministry of Labor and Social Affairs and its supporters began to pay attention to issues of poverty and unemployment through the enactment of new laws».

Article Credit: alsabaah.iq (Special Thanks to Tim Tarkington)
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Today, the dollar is falling against the Iraqi dinar

(Independent) .. The prices of the dollar exchange rate resumed the decline with the beginning of this week on the stock market and local markets on Saturday (24 February 2018).

Kifah Stock Exchange – Baghdad 122.250 dinars, while prices for Thursday 122,500 dinars.

Selling and buying prices in banking shops:

Selling price of the dollar = 122.750 dinars.

The price of buying the dollar = 121.750 dinars

Article Credit: mustaqila.com (Special Thanks to both Charles and Tim)
______________________________________________________________

Central_Bank_of_Iraq_Logo

Central Bank of Iraq Auctions $194,883,291 on 22 February 2018

The latest auction was attended by 45 banks and 9 remittance companies. The same institutions attended the auction held on February 22 compared to the previous auction.

Data for the February 22 auction was made public by CBI Announcement Number 3641.

Read More: http://www.dinarupdates.com/blog/
______________________________________________________________

[Based on Kaperoni’s 8 dinar commission rule some feel the percentage difference between the official rate and market rate needs to be 1214 to meet the IMF 2% stipulation. However, no one seems to be clear on how to calculate the number – opinions range from 1203 to 1214]

______________________________________________________________

URGENT The dollar is blowing in Iraq

Foreign exchange markets in Baghdad, on Wednesday morning, a significant decline in the exchange rate of the dollar against the Iraqi dinar.

The market price in the Kifah Exchange in Baghdad was 1220 dinars per dollar, or 122 thousand dinars for one hundred dollars.

The prices of selling and buying dollars in banking companies were:

The selling price of one dollar 1225 dinars, or 122 thousand and 500 dinars, for one hundred dollars.

And the purchase price of the dollar is 1215 dinars, or 121 thousand and 500 dinars, for one hundred dollars.

Foreign Exchange Rates:

EUR World Price: 100 Euro = 123.23

GBP The World Price: 100 Bounds = 139.85 $ The

Turkish Lira The International Price: $ 100 = 379.15 Turkish Lira.

Article Credit: http://www.alliraqnews.com (Special Thanks to Tim Tarkington)

BGG ~ Listen folks, this is good news. The Dinar is getting stronger. It is harder to get (over here), the price is going up and the exchange rate is better over there (for us). None of this is bad. It is all good.

______________________________________________________________

Erbil-Baghdad Agreement Imminent

ERBIL — The Kurdistan Region and Iraqi governments are close to reach an agreement over their disputes in the nearest future, said a source close to Iraqi Prime Minister Haider al-Abadi.

The high-level delegations from Erbil and Baghdad are due to resolve the differences over Kurdistan Region’s airports, customs and border lines, the source told Shafaq News.

He further revealed that the Kurdistan Regional Government has already agreed with most of the points in the political deal, the rest would remain under discussion.

Iraqi Prime Minister Haider al-Abadi said earlier the day that Erbil and Sulaymaniyah airports would soon be re-opened after over four months since Baghdad imposed a flight ban on the Kurdish region.

Article Credit: basnews.com (Special Thanks to Tim Tarkington)
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sandyf (Dinar Guru) – …it is almost odds on certainty that the IQD will never float.

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The date of voting on the budget of 2018

Baghdad News – A member of the Finance Committee of Parliament Mahasen Hamdoun, said Monday that next Tuesday is the date of voting on the budget in 2018.

Hamadoun said in a press statement that ‘the Finance Committee continues its meetings to discuss the budget and will not clear things, only on the day of voting on it’.

“The vote on the budget will be next Tuesday,” she said, stressing that ‘deductions of salaries of employees stopped in the budget’.

Read More: http://www.dinarupdates.com/showthread.php?56313-Disclosure-of-the-date-of-voting-on-the-budget-of-2018
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Iraq prime minister promises corruption crackdown, says laws will protect nervous foreign investors

Read Full Text with Commentary: http://www.dinarupdates.com/blog/
______________________________________________________________

______________________________________________________________

Float the Iraqi dinar and stop the auction currency is the only solution of the Iraqi economy.

Read Full Text with Commentary: http://www.dinarupdates.com/blog/
______________________________________________________________

COMMITTEE OF ACCOUNTABILITY: ANNOUNCE THE NAMES OF 5,000 PEOPLE INCLUDED IN THE SEIZURE OF FUNDS THIS WEEK

Al-Suhail, who is covered by the decision to hold the money, estimated about 5,000 persons, while the names of tens of thousands will be issued and they can be disposed of afterwards.

(Special thanks to Vernell)

BGG ~ Funny how that works… about one day after they realize the world isn’t going to “give them” anymore money, they go back and think about getting it back from the crooked politicians who’ve been stealing from the GOI and the people of Iraq.

According to recent estimates, they could collect as much as 500 BILLION (USD) back to the state treasury by enacting and enforcing simple legislation they’ve had in the works for some time now.

P.S. as reported in major OP ED’s in Baghdad recently, Maliki and his henchmen had better wind up on this list…

It is critical to Iraq’s long term success to get a handle on the endemic corruption.

______________________________________________________________

Central Bank of Iraq Auctions $198,173,094 on 15 February 2018

The latest auction was attended by 45 banks and 9 remittance companies. The same institutions attended the auction held on February 15 compared to the previous auction.

Data for the February 15 auction was made public by CBI Announcement Number 3636.

BGG ~ I will continue to highlight the regular auctions. After recently asking around about the reasons for the “tightening” of the supply of Dinar in the U.S… one of the main reasons I got was the fewer and fewer auctions. Wait – what?!? They are still having fairly robust auctions.

So, obviously, that’s not true… so what is it?

Another possibility is this MASSIVE financial embargo on Kurdistan, provided this was where currency was coming from.

I have also heard of a couple of major players talking about having money in – or being able to get money out of Kurdistan… all baloney. Kurdistan has been under very tight controls since snubbing the world diplomats with this sham vote pushed by Barzani.

Why was it a sham vote? Simple fact: you can’t just take what isn’t yours to take just because you vote on it.

Back to my previous rebuttal – anyone who actually had money in Kurdistan would have either gotten it out or is REALLY “up a creek”… likely just more B.S.

So…

1) Fewer auctions?

2) Tightening borders (fewer exports)?

3) More demand? I sincerely doubt it.

4) IMHO and most likely, the supply here in the U.S. from disgruntled sellers, which is likely where the bulk of the U.S. supply really comes from, and current interested buyers has finally reached a point of parity where the “supply – demand” scales are more evenly balanced.

Hence, the price goes up.

______________________________________________________________

Iraq receives nearly $ 11 billion from Arab and foreign countries for reconstruction

Baghdad Mawazine News – Iraq received nearly 11 billion dollars from Arab and foreign countries during the Kuwait International Conference for the Reconstruction of Iraq.

Saudi Arabia’s foreign minister, Adel al-Jubeir, said that “the kingdom has allocated $ 1.5 billion for reconstruction projects in Iraq and the financing of Saudi exports to it.”

While the Turkish Foreign Minister Mouloud Javishoglu, during the conference, to provide five billion dollars to support the reconstruction of Iraq.

Iraq also received $ 100 million as a contribution from Australia to reconstruction, while Britain pledged up to $ 1 billion a year to Iraq in the form of export credit over 10 years.

Finland has donated $ 10 million to carry out humanitarian projects in Iraq and has pledged to train Iraqi forces.

While Qatar allocated one billion dollars in the form of loans and investments and export facilities for its products in Iraq.

BGG ~ I keep hearing the complaints about Iraq getting all kinds of “welfare” as though they are living on these “pending grants” and IMF loans (instead of revaluing their currency).

I would be careful in assuming this is the situation or that any of this is any kind of “hold-up” to economic and monetary reform. I doubt so very much.

Everyone (as in – the investors and countries) wants to get close, be in on the beginning, but not so much so that they are just giving “hand-outs” with nothing in return. Iraq has to do their part. I get a little bit of the sense Iraq is kind of getting the cart before the horse with this latest conference.

It has long been speculated (and openly reported by Iraqi economists) Iraq would be hit with a “wall” of investment capitol when they truly started economic, monetary and governance reforms. However, it does not appear to me we are quite to this point yet. Everyone wants in – Iraq just don’t have the temperature quite right yet.

Keep in mind… these are “allocations”, “pledges” and “financing” and “projected exports” for projects. Basically these are all “feel good, sweet nothings” at a conference.

Next Monday we’ll see what’s what. Thus far they are well short of the 100 billion in give-aways (and grants) they were asking for.

On the other hand – why should they be given anything (for free)? If they would just pass corruption law(s) currently caught up in their Parliament’s legislative log-jam and then enforce them, their state treasury will swell by an estimated 500 billion (as they have plainly reported).

No need for anything from anyone.

Further, it is my opinion, Iraq should be held to account for (that means – PAY FOR) the military and humanitarian aid tab they’ve run up over the last few years.

______________________________________________________________

Iraq is ready to reform the financial and economic sectors

Economy News Baghdad: UN Secretary-General Antonio Guterich said Iraq was ready to reform the financial and economic sectors.

“The United Nations launches a grant program that helps repair infrastructure, improves daily life and helps improve economic reforms and revitalize areas that have been damaged,” he said.

(Special Thanks to Loopster for sharing)
______________________________________________________________

World Bank: Iraq is the best place to invest in the world

Read More: http://www.dinarupdates.com/showthread.php?56255-World-Bank-Iraq-is-the-best-place-to-invest-in-the-world
______________________________________________________________

The @IraqiGovt is implementing reforms

Follow us on twitter @DinarUpdates !!

______________________________________________________________

____________________________________________________________

Sources: away from the Kurds National Alliance and the Union of forces agree to pass the budget

Image result for picture of Kurdish National Alliance

Read more: http://www.dinarupdates.com/blog/
____________________________________________________________

Former minister: $ 500 billion will return to the state by applying the law “Where do you get this”

The House of Representatives on Saturday, during the session of the House of Representatives first reading of the proposed law on graft “Where you get this.”

“Former Minister of Water Resources Mohsen al-Shammari, it is likely to recover 500 billion dollars to the state treasury if the law applies” Where do you get this? “…

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

BGG ~ 500 Billion USD is an awful lot of money… especially when you consider Iraq is only asking for 100 Billion for their COMPLETE rebuilding process.

This is the size and scope of their corruption problem. This bill will be a problem. Everyone voting on it is crooked. Kinda’ like trying to get term limits passed here.

____________________________________________________________

Masoum stresses Iraq's urgent need for a solid and open economy

Masoum stresses Iraq’s urgent need for a solid and open economy

{Baghdad: Al-Furat News} President Fuad Masum, stressed the urgent need of Iraq to build a solid economy.

Read More: http://www.dinarupdates.com/blog/
____________________________________________________________

Special for change .. Abadi of parliament: the international community will not help Iraq if the budget is not approved

Quoting the channel of change .. Abadi of parliament: the international community will not help Iraq if the budget is not approved

Altahreernews.com

BGG ~ Oh wow. We’ll this pretty much spells it out. However, keep in mind – this is likely Abadi talking TO his Parliament, urging them to adopt their budget.

When I initially started down this line of reasoning, I had no idea international sentiment was as tough as it appears to be. WOW!!

The UN, IMF and WB all appear to want to support Iraq in the worst way – but it also very much appears there are results that are yet required.

P.S. This might also explain this very direct, “hands on” push by Abadi to get the budget done.

We wait and watch.

____________________________________________________________

Al-Alusi: Donor countries will not pay one dirham to a corrupt government

Special Mawazine News – Parliamentarian Mithal al-Alusi said on Tuesday that donor countries would not pay one dirham to a government accused of corruption.

“The donor countries can not be assured of their support at the donor conference to be held in Kuwait next month,” Alusi told Mawazine News.

“Those countries will not give Iraq a single dirham, because the government and the conservatives are accused of corruption,” he said.

“The states have informed the Iraqi government and politicians (we will not give you money because you are not trustworthy),” Alusi said.

The government has earlier announced efforts to coordinate with the Kuwaiti government to invite more than 70 countries to the donors conference scheduled to be held in Kuwait in February.

Source

Paul Moseley – “BGG YOU HIT THE NAIL ON THE HEAD”!!

BGG ~ Another accurate portrayal in the news. That is all. Thank you though 🙂

I have been talking the last however long about what Abadi needs to do along the lines of a real fight against corruption and why. Then I came out and did a fairly long dissertation on the matter. Some people didn’t like what I had to say… I only call it the way I see it.

Then this came out today…

…”Those countries will not give Iraq a single dirham, because the government and the conservatives are accused of corruption,” he said…

This might explain the less-than-luke-warm response Abadi got while at Davos.

____________________________________________________________

Abadi’s war against corruption must begin with Maliki and his henchmen

Corruption in Iraq has caused severe poverty in Iraq, which led to civil and sectarian strife that caused the extreme damages to the country’s infrastructure.

Shia parties lead corruption…

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

______________________________________________________________

Post RV Checklist (it’s getting to be that time!! Listen up!!)

Dos and Don’ts of Windfall Wealth:

Treat it like a PowerBall win

– Tell no one, not even family. If you must talk, do so with one who is already in the know.

– Don’t run out & buy new “stuff”. People notice.

– Get an unpublished number and give it out very sparingly.

– Get a tax accountant you can trust to make sure the IRS is satisfied (Certified Opinion is something to look into) and pursue asset protection…

If you found this blog, our website or chats helpful – Forward it to a friend!! We couldn’t do it without you!! Thanks – BGG!!

www.DinarUpdates.com

DINAR OBSERVER DAILY – Mar. 4th

Posted on March 4, 2018 by The Dinar Observer

The Wall Street Journal predicts Abadi will remain in office after the May elections

“Nothing fundamentally changes in the way Iraq is governed,” the paper quoted Haddad, an Iraqi political specialist at the National University of Singapore, as saying.

Haddad added: “The election is likely to result from another coalition government headed by Abadi”

“There is no coherent opposition that can easily outperform it,” Haddad said.

Article Credit: baghdadtoday.news (Special Thanks to Charles Bright)

BGG ~ I like the WSJ’s optimism… we all know how accurate they were on the last election they “predicted”. I’m hoping on this one, they are more accurate.

______________________________________________________________

Iraqi parliament approves $88 billion 2018 budget

By Ahmed Aboulenein and Ahmed Rasheed

BAGHDAD, March 3 (Reuters) – Iraq’s parliament approved a budget on Saturday, lawmakers said, but Kurdish MPs boycotted the vote over their region’s allocation.

The budget of 104 trillion Iraqi dinars ($88 billion) is based on projected oil exports of 3.8 million barrels per day (bpd) at a price of $46.

It envisions government revenues of 91.64 trillion dinars ($77.6 billion) with a deficit of 12.5 trillion dinars ($10.58 billion), according to lawmakers.

The projected 3.8 million bpd exports include a 250,000 bpd contribution from Iraq’s semi-autonomous Kurdistan region.

“We boycotted the vote and there are proposals for Kurdistan to withdraw from the entire political process in Iraq over the unfair treatment we have received,” said Kurdish MP Ashwaq Jaff.

The budget trimmed the Kurdistan Regional Government’s share to 12.67 percent, down from the 17 percent the region has traditionally been entitled to since the fall of Saddam Hussein…

Read More: http://www.dinarupdates.com/blog/
______________________________________________________________

The Wall Street Journal predicts Abadi will remain in office after the May elections

“Nothing fundamentally changes in the way Iraq is governed,” the paper quoted Haddad, an Iraqi political specialist at the National University of Singapore, as saying.

Haddad added: “The election is likely to result from another coalition government headed by Abadi”…

Read More: http://www.dinarupdates.com/blog/
______________________________________________________________

Kurdish official: Baghdad committees completed the audit of salaries of the region by 96%

Article Credit: alforatnews.com (Special Thanks to Charles Bright)

BGG ~ My first reaction is…

They had to do an AUDIT Because the CROOKED Kurdish leadership was asking for salary money for 50,000 employees that didn’t exist!! It’s no wonder Baghdad kicked them in the 8@!!$$ with 12.5% of the budget thing…

Also, this title is a little misleading, the real version is more like – they have finished (reportedly) 96% of the audit. Meaning: they are NEARLY done (with the AUDIT). Not actually done.

______________________________________________________________

The stability of the dollar exchange rate against the Iraqi dinar

(Independent) … The prices of the dollar exchange rate stabilized on the Stock Exchange and local markets on Tuesday (February 27, 2018).

Kifah Stock Exchange – Baghdad 122,000 dinars, the same price for Monday.

Selling and buying prices in banking shops:

Selling price of the dollar = 122,500 dinars.

The price of buying the dollar = 121.500 dinars.

Article Credit: mustaqila.com

BGG ~ This was from yesterday… I haven’t seen anything further on the OR/MR parity yet today (it’s what I’ll be watching close for a few days).

It’s is basically saying that after a few days of gains – the value of the Dinar has stabilized for now.

______________________________________________________________

Nusseiri: The implementation of the strategy of the Central Bank contributed to the improvement of the dinar exchange rate against the dollar

Read Full Text: http://www.dinarupdates.com/showthread.php?56381-The-implementation-of-the-strategy-of-the-CBI-contributed-to-the-Dinar-improvement

(Special Thanks to Vernell)
______________________________________________________________

BGG Q & A:

Q: What is this 90 day 2 % everyone talking about has it started and does it mean we have to have 2 % for 90 days before a rv ?

A: If I recall correctly, the “IMF 2% rule” refers to the spread between the Official rate and Market rate of the currency on any given day.

The rule is, basically – they must maintain this 2% (or less) gap for at least 90 days prior to accepting IMF Article 8 general obligations (as a member country) and concurrently from then on. Now – would the IMF allow them some latitude on the 90 day entry point? Possibly.

However, the real issue everyone is stewing over is this…

Does this recent closing of the gap between the “Official rate” and “Market rate” forecast some coming change or is it much ado about nothing?

There are articles regularly touting the tightening of this gap… or the “Strengthening of the Dinar against the Dollar” or some other various titles along those same lines. Ask yourself why? Because they know what it means.

Whichever side of the fence you are on here, this tightening of the OR/MR gap is the single most visible, interesting and encouraging “data point” we’ve seen in a very, very long time…

Read More: http://www.dinarupdates.com/blog/
______________________________________________________________

______________________________________________________________

Sudani: Iraq is moving towards a market economy

The Sudani, said «the Ministry of Labor and Social Affairs and its supporters began to pay attention to issues of poverty and unemployment through the enactment of new laws».

Article Credit: alsabaah.iq (Special Thanks to Tim Tarkington)
______________________________________________________________

Today, the dollar is falling against the Iraqi dinar

(Independent) .. The prices of the dollar exchange rate resumed the decline with the beginning of this week on the stock market and local markets on Saturday (24 February 2018).

Kifah Stock Exchange – Baghdad 122.250 dinars, while prices for Thursday 122,500 dinars.

Selling and buying prices in banking shops:

Selling price of the dollar = 122.750 dinars.

The price of buying the dollar = 121.750 dinars

Article Credit: mustaqila.com (Special Thanks to both Charles and Tim)
______________________________________________________________

Central_Bank_of_Iraq_Logo

Central Bank of Iraq Auctions $194,883,291 on 22 February 2018

The latest auction was attended by 45 banks and 9 remittance companies. The same institutions attended the auction held on February 22 compared to the previous auction.

Data for the February 22 auction was made public by CBI Announcement Number 3641.

Read More: http://www.dinarupdates.com/blog/
______________________________________________________________

[Based on Kaperoni’s 8 dinar commission rule some feel the percentage difference between the official rate and market rate needs to be 1214 to meet the IMF 2% stipulation. However, no one seems to be clear on how to calculate the number – opinions range from 1203 to 1214]

______________________________________________________________

URGENT The dollar is blowing in Iraq

Foreign exchange markets in Baghdad, on Wednesday morning, a significant decline in the exchange rate of the dollar against the Iraqi dinar.

The market price in the Kifah Exchange in Baghdad was 1220 dinars per dollar, or 122 thousand dinars for one hundred dollars.

The prices of selling and buying dollars in banking companies were:

The selling price of one dollar 1225 dinars, or 122 thousand and 500 dinars, for one hundred dollars.

And the purchase price of the dollar is 1215 dinars, or 121 thousand and 500 dinars, for one hundred dollars.

Foreign Exchange Rates:

EUR World Price: 100 Euro = 123.23

GBP The World Price: 100 Bounds = 139.85 $ The

Turkish Lira The International Price: $ 100 = 379.15 Turkish Lira.

Article Credit: http://www.alliraqnews.com (Special Thanks to Tim Tarkington)

BGG ~ Listen folks, this is good news. The Dinar is getting stronger. It is harder to get (over here), the price is going up and the exchange rate is better over there (for us). None of this is bad. It is all good.

______________________________________________________________

Erbil-Baghdad Agreement Imminent

ERBIL — The Kurdistan Region and Iraqi governments are close to reach an agreement over their disputes in the nearest future, said a source close to Iraqi Prime Minister Haider al-Abadi.

The high-level delegations from Erbil and Baghdad are due to resolve the differences over Kurdistan Region’s airports, customs and border lines, the source told Shafaq News.

He further revealed that the Kurdistan Regional Government has already agreed with most of the points in the political deal, the rest would remain under discussion.

Iraqi Prime Minister Haider al-Abadi said earlier the day that Erbil and Sulaymaniyah airports would soon be re-opened after over four months since Baghdad imposed a flight ban on the Kurdish region.

Article Credit: basnews.com (Special Thanks to Tim Tarkington)
______________________________________________________________

sandyf (Dinar Guru) – …it is almost odds on certainty that the IQD will never float.

______________________________________________________________

The date of voting on the budget of 2018

Baghdad News – A member of the Finance Committee of Parliament Mahasen Hamdoun, said Monday that next Tuesday is the date of voting on the budget in 2018.

Hamadoun said in a press statement that ‘the Finance Committee continues its meetings to discuss the budget and will not clear things, only on the day of voting on it’.

“The vote on the budget will be next Tuesday,” she said, stressing that ‘deductions of salaries of employees stopped in the budget’.

Read More: http://www.dinarupdates.com/showthread.php?56313-Disclosure-of-the-date-of-voting-on-the-budget-of-2018
______________________________________________________________

______________________________________________________________

Iraq prime minister promises corruption crackdown, says laws will protect nervous foreign investors

Read Full Text with Commentary: http://www.dinarupdates.com/blog/
______________________________________________________________

______________________________________________________________

Float the Iraqi dinar and stop the auction currency is the only solution of the Iraqi economy.

Read Full Text with Commentary: http://www.dinarupdates.com/blog/
______________________________________________________________

COMMITTEE OF ACCOUNTABILITY: ANNOUNCE THE NAMES OF 5,000 PEOPLE INCLUDED IN THE SEIZURE OF FUNDS THIS WEEK

Al-Suhail, who is covered by the decision to hold the money, estimated about 5,000 persons, while the names of tens of thousands will be issued and they can be disposed of afterwards.

(Special thanks to Vernell)

BGG ~ Funny how that works… about one day after they realize the world isn’t going to “give them” anymore money, they go back and think about getting it back from the crooked politicians who’ve been stealing from the GOI and the people of Iraq.

According to recent estimates, they could collect as much as 500 BILLION (USD) back to the state treasury by enacting and enforcing simple legislation they’ve had in the works for some time now.

P.S. as reported in major OP ED’s in Baghdad recently, Maliki and his henchmen had better wind up on this list…

It is critical to Iraq’s long term success to get a handle on the endemic corruption.

______________________________________________________________

Central Bank of Iraq Auctions $198,173,094 on 15 February 2018

The latest auction was attended by 45 banks and 9 remittance companies. The same institutions attended the auction held on February 15 compared to the previous auction.

Data for the February 15 auction was made public by CBI Announcement Number 3636.

BGG ~ I will continue to highlight the regular auctions. After recently asking around about the reasons for the “tightening” of the supply of Dinar in the U.S… one of the main reasons I got was the fewer and fewer auctions. Wait – what?!? They are still having fairly robust auctions.

So, obviously, that’s not true… so what is it?

Another possibility is this MASSIVE financial embargo on Kurdistan, provided this was where currency was coming from.

I have also heard of a couple of major players talking about having money in – or being able to get money out of Kurdistan… all baloney. Kurdistan has been under very tight controls since snubbing the world diplomats with this sham vote pushed by Barzani.

Why was it a sham vote? Simple fact: you can’t just take what isn’t yours to take just because you vote on it.

Back to my previous rebuttal – anyone who actually had money in Kurdistan would have either gotten it out or is REALLY “up a creek”… likely just more B.S.

So…

1) Fewer auctions?

2) Tightening borders (fewer exports)?

3) More demand? I sincerely doubt it.

4) IMHO and most likely, the supply here in the U.S. from disgruntled sellers, which is likely where the bulk of the U.S. supply really comes from, and current interested buyers has finally reached a point of parity where the “supply – demand” scales are more evenly balanced.

Hence, the price goes up.

______________________________________________________________

Iraq receives nearly $ 11 billion from Arab and foreign countries for reconstruction

Baghdad Mawazine News – Iraq received nearly 11 billion dollars from Arab and foreign countries during the Kuwait International Conference for the Reconstruction of Iraq.

Saudi Arabia’s foreign minister, Adel al-Jubeir, said that “the kingdom has allocated $ 1.5 billion for reconstruction projects in Iraq and the financing of Saudi exports to it.”

While the Turkish Foreign Minister Mouloud Javishoglu, during the conference, to provide five billion dollars to support the reconstruction of Iraq.

Iraq also received $ 100 million as a contribution from Australia to reconstruction, while Britain pledged up to $ 1 billion a year to Iraq in the form of export credit over 10 years.

Finland has donated $ 10 million to carry out humanitarian projects in Iraq and has pledged to train Iraqi forces.

While Qatar allocated one billion dollars in the form of loans and investments and export facilities for its products in Iraq.

BGG ~ I keep hearing the complaints about Iraq getting all kinds of “welfare” as though they are living on these “pending grants” and IMF loans (instead of revaluing their currency).

I would be careful in assuming this is the situation or that any of this is any kind of “hold-up” to economic and monetary reform. I doubt so very much.

Everyone (as in – the investors and countries) wants to get close, be in on the beginning, but not so much so that they are just giving “hand-outs” with nothing in return. Iraq has to do their part. I get a little bit of the sense Iraq is kind of getting the cart before the horse with this latest conference.

It has long been speculated (and openly reported by Iraqi economists) Iraq would be hit with a “wall” of investment capitol when they truly started economic, monetary and governance reforms. However, it does not appear to me we are quite to this point yet. Everyone wants in – Iraq just don’t have the temperature quite right yet.

Keep in mind… these are “allocations”, “pledges” and “financing” and “projected exports” for projects. Basically these are all “feel good, sweet nothings” at a conference.

Next Monday we’ll see what’s what. Thus far they are well short of the 100 billion in give-aways (and grants) they were asking for.

On the other hand – why should they be given anything (for free)? If they would just pass corruption law(s) currently caught up in their Parliament’s legislative log-jam and then enforce them, their state treasury will swell by an estimated 500 billion (as they have plainly reported).

No need for anything from anyone.

Further, it is my opinion, Iraq should be held to account for (that means – PAY FOR) the military and humanitarian aid tab they’ve run up over the last few years.

______________________________________________________________

Iraq is ready to reform the financial and economic sectors

Economy News Baghdad: UN Secretary-General Antonio Guterich said Iraq was ready to reform the financial and economic sectors.

“The United Nations launches a grant program that helps repair infrastructure, improves daily life and helps improve economic reforms and revitalize areas that have been damaged,” he said.

(Special Thanks to Loopster for sharing)
______________________________________________________________

World Bank: Iraq is the best place to invest in the world

Read More: http://www.dinarupdates.com/showthread.php?56255-World-Bank-Iraq-is-the-best-place-to-invest-in-the-world
______________________________________________________________

The @IraqiGovt is implementing reforms

Follow us on twitter @DinarUpdates !!

______________________________________________________________

____________________________________________________________

Sources: away from the Kurds National Alliance and the Union of forces agree to pass the budget

Image result for picture of Kurdish National Alliance

Read more: http://www.dinarupdates.com/blog/
____________________________________________________________

Former minister: $ 500 billion will return to the state by applying the law “Where do you get this”

The House of Representatives on Saturday, during the session of the House of Representatives first reading of the proposed law on graft “Where you get this.”

“Former Minister of Water Resources Mohsen al-Shammari, it is likely to recover 500 billion dollars to the state treasury if the law applies” Where do you get this? “…

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

BGG ~ 500 Billion USD is an awful lot of money… especially when you consider Iraq is only asking for 100 Billion for their COMPLETE rebuilding process.

This is the size and scope of their corruption problem. This bill will be a problem. Everyone voting on it is crooked. Kinda’ like trying to get term limits passed here.

____________________________________________________________

Masoum stresses Iraq's urgent need for a solid and open economy

Masoum stresses Iraq’s urgent need for a solid and open economy

{Baghdad: Al-Furat News} President Fuad Masum, stressed the urgent need of Iraq to build a solid economy.

Read More: http://www.dinarupdates.com/blog/
____________________________________________________________

Special for change .. Abadi of parliament: the international community will not help Iraq if the budget is not approved

Quoting the channel of change .. Abadi of parliament: the international community will not help Iraq if the budget is not approved

Altahreernews.com

BGG ~ Oh wow. We’ll this pretty much spells it out. However, keep in mind – this is likely Abadi talking TO his Parliament, urging them to adopt their budget.

When I initially started down this line of reasoning, I had no idea international sentiment was as tough as it appears to be. WOW!!

The UN, IMF and WB all appear to want to support Iraq in the worst way – but it also very much appears there are results that are yet required.

P.S. This might also explain this very direct, “hands on” push by Abadi to get the budget done.

We wait and watch.

____________________________________________________________

Al-Alusi: Donor countries will not pay one dirham to a corrupt government

Special Mawazine News – Parliamentarian Mithal al-Alusi said on Tuesday that donor countries would not pay one dirham to a government accused of corruption.

“The donor countries can not be assured of their support at the donor conference to be held in Kuwait next month,” Alusi told Mawazine News.

“Those countries will not give Iraq a single dirham, because the government and the conservatives are accused of corruption,” he said.

“The states have informed the Iraqi government and politicians (we will not give you money because you are not trustworthy),” Alusi said.

The government has earlier announced efforts to coordinate with the Kuwaiti government to invite more than 70 countries to the donors conference scheduled to be held in Kuwait in February.

Source

Paul Moseley – “BGG YOU HIT THE NAIL ON THE HEAD”!!

BGG ~ Another accurate portrayal in the news. That is all. Thank you though 🙂

I have been talking the last however long about what Abadi needs to do along the lines of a real fight against corruption and why. Then I came out and did a fairly long dissertation on the matter. Some people didn’t like what I had to say… I only call it the way I see it.

Then this came out today…

…”Those countries will not give Iraq a single dirham, because the government and the conservatives are accused of corruption,” he said…

This might explain the less-than-luke-warm response Abadi got while at Davos.

____________________________________________________________

Abadi’s war against corruption must begin with Maliki and his henchmen

Corruption in Iraq has caused severe poverty in Iraq, which led to civil and sectarian strife that caused the extreme damages to the country’s infrastructure.

Shia parties lead corruption…

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

______________________________________________________________

Post RV Checklist (it’s getting to be that time!! Listen up!!)

Dos and Don’ts of Windfall Wealth:

Treat it like a PowerBall win

– Tell no one, not even family. If you must talk, do so with one who is already in the know.

– Don’t run out & buy new “stuff”. People notice.

– Get an unpublished number and give it out very sparingly.

– Get a tax accountant you can trust to make sure the IRS is satisfied (Certified Opinion is something to look into) and pursue asset protection…

If you found this blog, our website or chats helpful – Forward it to a friend!! We couldn’t do it without you!! Thanks – BGG!!

www.DinarUpdates.com

DINAR OBSERVER DAILY – Mar. 3rd

Posted on March 3, 2018 by The Dinar Observer

Iraqi parliament approves $88 billion 2018 budget

By Ahmed Aboulenein and Ahmed Rasheed

BAGHDAD, March 3 (Reuters) – Iraq’s parliament approved a budget on Saturday, lawmakers said, but Kurdish MPs boycotted the vote over their region’s allocation.

The budget of 104 trillion Iraqi dinars ($88 billion) is based on projected oil exports of 3.8 million barrels per day (bpd) at a price of $46.

It envisions government revenues of 91.64 trillion dinars ($77.6 billion) with a deficit of 12.5 trillion dinars ($10.58 billion), according to lawmakers.

The projected 3.8 million bpd exports include a 250,000 bpd contribution from Iraq’s semi-autonomous Kurdistan region.

“We boycotted the vote and there are proposals for Kurdistan to withdraw from the entire political process in Iraq over the unfair treatment we have received,” said Kurdish MP Ashwaq Jaff.

The budget trimmed the Kurdistan Regional Government’s share to 12.67 percent, down from the 17 percent the region has traditionally been entitled to since the fall of Saddam Hussein…

Read More: http://www.dinarupdates.com/blog/
______________________________________________________________

The Wall Street Journal predicts Abadi will remain in office after the May elections

“Nothing fundamentally changes in the way Iraq is governed,” the paper quoted Haddad, an Iraqi political specialist at the National University of Singapore, as saying.

Haddad added: “The election is likely to result from another coalition government headed by Abadi”…

Read More: http://www.dinarupdates.com/blog/
______________________________________________________________

Kurdish official: Baghdad committees completed the audit of salaries of the region by 96%

Article Credit: alforatnews.com (Special Thanks to Charles Bright)

BGG ~ My first reaction is…

They had to do an AUDIT Because the CROOKED Kurdish leadership was asking for salary money for 50,000 employees that didn’t exist!! It’s no wonder Baghdad kicked them in the 8@!!$$ with 12.5% of the budget thing…

Also, this title is a little misleading, the real version is more like – they have finished (reportedly) 96% of the audit. Meaning: they are NEARLY done (with the AUDIT). Not actually done.

______________________________________________________________

The stability of the dollar exchange rate against the Iraqi dinar

(Independent) … The prices of the dollar exchange rate stabilized on the Stock Exchange and local markets on Tuesday (February 27, 2018).

Kifah Stock Exchange – Baghdad 122,000 dinars, the same price for Monday.

Selling and buying prices in banking shops:

Selling price of the dollar = 122,500 dinars.

The price of buying the dollar = 121.500 dinars.

Article Credit: mustaqila.com

BGG ~ This was from yesterday… I haven’t seen anything further on the OR/MR parity yet today (it’s what I’ll be watching close for a few days).

It’s is basically saying that after a few days of gains – the value of the Dinar has stabilized for now.

______________________________________________________________

Nusseiri: The implementation of the strategy of the Central Bank contributed to the improvement of the dinar exchange rate against the dollar

Read Full Text: http://www.dinarupdates.com/showthread.php?56381-The-implementation-of-the-strategy-of-the-CBI-contributed-to-the-Dinar-improvement

(Special Thanks to Vernell)
______________________________________________________________

BGG Q & A:

Q: What is this 90 day 2 % everyone talking about has it started and does it mean we have to have 2 % for 90 days before a rv ?

A: If I recall correctly, the “IMF 2% rule” refers to the spread between the Official rate and Market rate of the currency on any given day.

The rule is, basically – they must maintain this 2% (or less) gap for at least 90 days prior to accepting IMF Article 8 general obligations (as a member country) and concurrently from then on. Now – would the IMF allow them some latitude on the 90 day entry point? Possibly.

However, the real issue everyone is stewing over is this…

Does this recent closing of the gap between the “Official rate” and “Market rate” forecast some coming change or is it much ado about nothing?

There are articles regularly touting the tightening of this gap… or the “Strengthening of the Dinar against the Dollar” or some other various titles along those same lines. Ask yourself why? Because they know what it means.

Whichever side of the fence you are on here, this tightening of the OR/MR gap is the single most visible, interesting and encouraging “data point” we’ve seen in a very, very long time…

Read More: http://www.dinarupdates.com/blog/
______________________________________________________________

______________________________________________________________

Sudani: Iraq is moving towards a market economy

The Sudani, said «the Ministry of Labor and Social Affairs and its supporters began to pay attention to issues of poverty and unemployment through the enactment of new laws».

Article Credit: alsabaah.iq (Special Thanks to Tim Tarkington)
______________________________________________________________

Today, the dollar is falling against the Iraqi dinar

(Independent) .. The prices of the dollar exchange rate resumed the decline with the beginning of this week on the stock market and local markets on Saturday (24 February 2018).

Kifah Stock Exchange – Baghdad 122.250 dinars, while prices for Thursday 122,500 dinars.

Selling and buying prices in banking shops:

Selling price of the dollar = 122.750 dinars.

The price of buying the dollar = 121.750 dinars

Article Credit: mustaqila.com (Special Thanks to both Charles and Tim)
______________________________________________________________

Central_Bank_of_Iraq_Logo

Central Bank of Iraq Auctions $194,883,291 on 22 February 2018

The latest auction was attended by 45 banks and 9 remittance companies. The same institutions attended the auction held on February 22 compared to the previous auction.

Data for the February 22 auction was made public by CBI Announcement Number 3641.

Read More: http://www.dinarupdates.com/blog/
______________________________________________________________

[Based on Kaperoni’s 8 dinar commission rule some feel the percentage difference between the official rate and market rate needs to be 1214 to meet the IMF 2% stipulation. However, no one seems to be clear on how to calculate the number – opinions range from 1203 to 1214]

______________________________________________________________

URGENT The dollar is blowing in Iraq

Foreign exchange markets in Baghdad, on Wednesday morning, a significant decline in the exchange rate of the dollar against the Iraqi dinar.

The market price in the Kifah Exchange in Baghdad was 1220 dinars per dollar, or 122 thousand dinars for one hundred dollars.

The prices of selling and buying dollars in banking companies were:

The selling price of one dollar 1225 dinars, or 122 thousand and 500 dinars, for one hundred dollars.

And the purchase price of the dollar is 1215 dinars, or 121 thousand and 500 dinars, for one hundred dollars.

Foreign Exchange Rates:

EUR World Price: 100 Euro = 123.23

GBP The World Price: 100 Bounds = 139.85 $ The

Turkish Lira The International Price: $ 100 = 379.15 Turkish Lira.

Article Credit: http://www.alliraqnews.com (Special Thanks to Tim Tarkington)

BGG ~ Listen folks, this is good news. The Dinar is getting stronger. It is harder to get (over here), the price is going up and the exchange rate is better over there (for us). None of this is bad. It is all good.

______________________________________________________________

Erbil-Baghdad Agreement Imminent

ERBIL — The Kurdistan Region and Iraqi governments are close to reach an agreement over their disputes in the nearest future, said a source close to Iraqi Prime Minister Haider al-Abadi.

The high-level delegations from Erbil and Baghdad are due to resolve the differences over Kurdistan Region’s airports, customs and border lines, the source told Shafaq News.

He further revealed that the Kurdistan Regional Government has already agreed with most of the points in the political deal, the rest would remain under discussion.

Iraqi Prime Minister Haider al-Abadi said earlier the day that Erbil and Sulaymaniyah airports would soon be re-opened after over four months since Baghdad imposed a flight ban on the Kurdish region.

Article Credit: basnews.com (Special Thanks to Tim Tarkington)
______________________________________________________________

sandyf (Dinar Guru) – …it is almost odds on certainty that the IQD will never float.

______________________________________________________________

The date of voting on the budget of 2018

Baghdad News – A member of the Finance Committee of Parliament Mahasen Hamdoun, said Monday that next Tuesday is the date of voting on the budget in 2018.

Hamadoun said in a press statement that ‘the Finance Committee continues its meetings to discuss the budget and will not clear things, only on the day of voting on it’.

“The vote on the budget will be next Tuesday,” she said, stressing that ‘deductions of salaries of employees stopped in the budget’.

Read More: http://www.dinarupdates.com/showthread.php?56313-Disclosure-of-the-date-of-voting-on-the-budget-of-2018
______________________________________________________________

______________________________________________________________

Iraq prime minister promises corruption crackdown, says laws will protect nervous foreign investors

Read Full Text with Commentary: http://www.dinarupdates.com/blog/
______________________________________________________________

______________________________________________________________

Float the Iraqi dinar and stop the auction currency is the only solution of the Iraqi economy.

Read Full Text with Commentary: http://www.dinarupdates.com/blog/
______________________________________________________________

COMMITTEE OF ACCOUNTABILITY: ANNOUNCE THE NAMES OF 5,000 PEOPLE INCLUDED IN THE SEIZURE OF FUNDS THIS WEEK

Al-Suhail, who is covered by the decision to hold the money, estimated about 5,000 persons, while the names of tens of thousands will be issued and they can be disposed of afterwards.

(Special thanks to Vernell)

BGG ~ Funny how that works… about one day after they realize the world isn’t going to “give them” anymore money, they go back and think about getting it back from the crooked politicians who’ve been stealing from the GOI and the people of Iraq.

According to recent estimates, they could collect as much as 500 BILLION (USD) back to the state treasury by enacting and enforcing simple legislation they’ve had in the works for some time now.

P.S. as reported in major OP ED’s in Baghdad recently, Maliki and his henchmen had better wind up on this list…

It is critical to Iraq’s long term success to get a handle on the endemic corruption.

______________________________________________________________

Central Bank of Iraq Auctions $198,173,094 on 15 February 2018

The latest auction was attended by 45 banks and 9 remittance companies. The same institutions attended the auction held on February 15 compared to the previous auction.

Data for the February 15 auction was made public by CBI Announcement Number 3636.

BGG ~ I will continue to highlight the regular auctions. After recently asking around about the reasons for the “tightening” of the supply of Dinar in the U.S… one of the main reasons I got was the fewer and fewer auctions. Wait – what?!? They are still having fairly robust auctions.

So, obviously, that’s not true… so what is it?

Another possibility is this MASSIVE financial embargo on Kurdistan, provided this was where currency was coming from.

I have also heard of a couple of major players talking about having money in – or being able to get money out of Kurdistan… all baloney. Kurdistan has been under very tight controls since snubbing the world diplomats with this sham vote pushed by Barzani.

Why was it a sham vote? Simple fact: you can’t just take what isn’t yours to take just because you vote on it.

Back to my previous rebuttal – anyone who actually had money in Kurdistan would have either gotten it out or is REALLY “up a creek”… likely just more B.S.

So…

1) Fewer auctions?

2) Tightening borders (fewer exports)?

3) More demand? I sincerely doubt it.

4) IMHO and most likely, the supply here in the U.S. from disgruntled sellers, which is likely where the bulk of the U.S. supply really comes from, and current interested buyers has finally reached a point of parity where the “supply – demand” scales are more evenly balanced.

Hence, the price goes up.

______________________________________________________________

Iraq receives nearly $ 11 billion from Arab and foreign countries for reconstruction

Baghdad Mawazine News – Iraq received nearly 11 billion dollars from Arab and foreign countries during the Kuwait International Conference for the Reconstruction of Iraq.

Saudi Arabia’s foreign minister, Adel al-Jubeir, said that “the kingdom has allocated $ 1.5 billion for reconstruction projects in Iraq and the financing of Saudi exports to it.”

While the Turkish Foreign Minister Mouloud Javishoglu, during the conference, to provide five billion dollars to support the reconstruction of Iraq.

Iraq also received $ 100 million as a contribution from Australia to reconstruction, while Britain pledged up to $ 1 billion a year to Iraq in the form of export credit over 10 years.

Finland has donated $ 10 million to carry out humanitarian projects in Iraq and has pledged to train Iraqi forces.

While Qatar allocated one billion dollars in the form of loans and investments and export facilities for its products in Iraq.

BGG ~ I keep hearing the complaints about Iraq getting all kinds of “welfare” as though they are living on these “pending grants” and IMF loans (instead of revaluing their currency).

I would be careful in assuming this is the situation or that any of this is any kind of “hold-up” to economic and monetary reform. I doubt so very much.

Everyone (as in – the investors and countries) wants to get close, be in on the beginning, but not so much so that they are just giving “hand-outs” with nothing in return. Iraq has to do their part. I get a little bit of the sense Iraq is kind of getting the cart before the horse with this latest conference.

It has long been speculated (and openly reported by Iraqi economists) Iraq would be hit with a “wall” of investment capitol when they truly started economic, monetary and governance reforms. However, it does not appear to me we are quite to this point yet. Everyone wants in – Iraq just don’t have the temperature quite right yet.

Keep in mind… these are “allocations”, “pledges” and “financing” and “projected exports” for projects. Basically these are all “feel good, sweet nothings” at a conference.

Next Monday we’ll see what’s what. Thus far they are well short of the 100 billion in give-aways (and grants) they were asking for.

On the other hand – why should they be given anything (for free)? If they would just pass corruption law(s) currently caught up in their Parliament’s legislative log-jam and then enforce them, their state treasury will swell by an estimated 500 billion (as they have plainly reported).

No need for anything from anyone.

Further, it is my opinion, Iraq should be held to account for (that means – PAY FOR) the military and humanitarian aid tab they’ve run up over the last few years.

______________________________________________________________

Iraq is ready to reform the financial and economic sectors

Economy News Baghdad: UN Secretary-General Antonio Guterich said Iraq was ready to reform the financial and economic sectors.

“The United Nations launches a grant program that helps repair infrastructure, improves daily life and helps improve economic reforms and revitalize areas that have been damaged,” he said.

(Special Thanks to Loopster for sharing)
______________________________________________________________

World Bank: Iraq is the best place to invest in the world

Read More: http://www.dinarupdates.com/showthread.php?56255-World-Bank-Iraq-is-the-best-place-to-invest-in-the-world
______________________________________________________________

The @IraqiGovt is implementing reforms

Follow us on twitter @DinarUpdates !!

______________________________________________________________

____________________________________________________________

Sources: away from the Kurds National Alliance and the Union of forces agree to pass the budget

Image result for picture of Kurdish National Alliance

Read more: http://www.dinarupdates.com/blog/
____________________________________________________________

Former minister: $ 500 billion will return to the state by applying the law “Where do you get this”

The House of Representatives on Saturday, during the session of the House of Representatives first reading of the proposed law on graft “Where you get this.”

“Former Minister of Water Resources Mohsen al-Shammari, it is likely to recover 500 billion dollars to the state treasury if the law applies” Where do you get this? “…

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

BGG ~ 500 Billion USD is an awful lot of money… especially when you consider Iraq is only asking for 100 Billion for their COMPLETE rebuilding process.

This is the size and scope of their corruption problem. This bill will be a problem. Everyone voting on it is crooked. Kinda’ like trying to get term limits passed here.

____________________________________________________________

Masoum stresses Iraq's urgent need for a solid and open economy

Masoum stresses Iraq’s urgent need for a solid and open economy

{Baghdad: Al-Furat News} President Fuad Masum, stressed the urgent need of Iraq to build a solid economy.

Read More: http://www.dinarupdates.com/blog/
____________________________________________________________

Special for change .. Abadi of parliament: the international community will not help Iraq if the budget is not approved

Quoting the channel of change .. Abadi of parliament: the international community will not help Iraq if the budget is not approved

Altahreernews.com

BGG ~ Oh wow. We’ll this pretty much spells it out. However, keep in mind – this is likely Abadi talking TO his Parliament, urging them to adopt their budget.

When I initially started down this line of reasoning, I had no idea international sentiment was as tough as it appears to be. WOW!!

The UN, IMF and WB all appear to want to support Iraq in the worst way – but it also very much appears there are results that are yet required.

P.S. This might also explain this very direct, “hands on” push by Abadi to get the budget done.

We wait and watch.

____________________________________________________________

Al-Alusi: Donor countries will not pay one dirham to a corrupt government

Special Mawazine News – Parliamentarian Mithal al-Alusi said on Tuesday that donor countries would not pay one dirham to a government accused of corruption.

“The donor countries can not be assured of their support at the donor conference to be held in Kuwait next month,” Alusi told Mawazine News.

“Those countries will not give Iraq a single dirham, because the government and the conservatives are accused of corruption,” he said.

“The states have informed the Iraqi government and politicians (we will not give you money because you are not trustworthy),” Alusi said.

The government has earlier announced efforts to coordinate with the Kuwaiti government to invite more than 70 countries to the donors conference scheduled to be held in Kuwait in February.

Source

Paul Moseley – “BGG YOU HIT THE NAIL ON THE HEAD”!!

BGG ~ Another accurate portrayal in the news. That is all. Thank you though 🙂

I have been talking the last however long about what Abadi needs to do along the lines of a real fight against corruption and why. Then I came out and did a fairly long dissertation on the matter. Some people didn’t like what I had to say… I only call it the way I see it.

Then this came out today…

…”Those countries will not give Iraq a single dirham, because the government and the conservatives are accused of corruption,” he said…

This might explain the less-than-luke-warm response Abadi got while at Davos.

____________________________________________________________

Abadi’s war against corruption must begin with Maliki and his henchmen

Corruption in Iraq has caused severe poverty in Iraq, which led to civil and sectarian strife that caused the extreme damages to the country’s infrastructure.

Shia parties lead corruption…

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

______________________________________________________________

Post RV Checklist (it’s getting to be that time!! Listen up!!)

Dos and Don’ts of Windfall Wealth:

Treat it like a PowerBall win

– Tell no one, not even family. If you must talk, do so with one who is already in the know.

– Don’t run out & buy new “stuff”. People notice.

– Get an unpublished number and give it out very sparingly.

– Get a tax accountant you can trust to make sure the IRS is satisfied (Certified Opinion is something to look into) and pursue asset protection…

If you found this blog, our website or chats helpful – Forward it to a friend!! We couldn’t do it without you!! Thanks – BGG!!

www.DinarUpdates.com

DINAR OBSERVER DAILY – Mar. 2nd

Posted on March 2, 2018 by The Dinar Observer

Kurdish official: Baghdad committees completed the audit of salaries of the region by 96%

Article Credit: alforatnews.com (Special Thanks to Charles Bright)

BGG ~ My first reaction is…

They had to do an AUDIT Because the CROOKED Kurdish leadership was asking for salary money for 50,000 employees that didn’t exist!! It’s no wonder Baghdad kicked them in the 8@!!$$ with 12.5% of the budget thing…

Also, this title is a little misleading, the real version is more like – they have finished (reportedly) 96% of the audit. Meaning: they are NEARLY done (with the AUDIT). Not actually done.

______________________________________________________________

The stability of the dollar exchange rate against the Iraqi dinar

(Independent) … The prices of the dollar exchange rate stabilized on the Stock Exchange and local markets on Tuesday (February 27, 2018).

Kifah Stock Exchange – Baghdad 122,000 dinars, the same price for Monday.

Selling and buying prices in banking shops:

Selling price of the dollar = 122,500 dinars.

The price of buying the dollar = 121.500 dinars.

Article Credit: mustaqila.com

BGG ~ This was from yesterday… I haven’t seen anything further on the OR/MR parity yet today (it’s what I’ll be watching close for a few days).

It’s is basically saying that after a few days of gains – the value of the Dinar has stabilized for now.

______________________________________________________________

Nusseiri: The implementation of the strategy of the Central Bank contributed to the improvement of the dinar exchange rate against the dollar

Read Full Text: http://www.dinarupdates.com/showthread.php?56381-The-implementation-of-the-strategy-of-the-CBI-contributed-to-the-Dinar-improvement

(Special Thanks to Vernell)
______________________________________________________________

BGG Q & A:

Q: What is this 90 day 2 % everyone talking about has it started and does it mean we have to have 2 % for 90 days before a rv ?

A: If I recall correctly, the “IMF 2% rule” refers to the spread between the Official rate and Market rate of the currency on any given day.

The rule is, basically – they must maintain this 2% (or less) gap for at least 90 days prior to accepting IMF Article 8 general obligations (as a member country) and concurrently from then on. Now – would the IMF allow them some latitude on the 90 day entry point? Possibly.

However, the real issue everyone is stewing over is this…

Does this recent closing of the gap between the “Official rate” and “Market rate” forecast some coming change or is it much ado about nothing?

There are articles regularly touting the tightening of this gap… or the “Strengthening of the Dinar against the Dollar” or some other various titles along those same lines. Ask yourself why? Because they know what it means.

Whichever side of the fence you are on here, this tightening of the OR/MR gap is the single most visible, interesting and encouraging “data point” we’ve seen in a very, very long time…

Read More: http://www.dinarupdates.com/blog/
______________________________________________________________

______________________________________________________________

Sudani: Iraq is moving towards a market economy

The Sudani, said «the Ministry of Labor and Social Affairs and its supporters began to pay attention to issues of poverty and unemployment through the enactment of new laws».

Article Credit: alsabaah.iq (Special Thanks to Tim Tarkington)
______________________________________________________________

Today, the dollar is falling against the Iraqi dinar

(Independent) .. The prices of the dollar exchange rate resumed the decline with the beginning of this week on the stock market and local markets on Saturday (24 February 2018).

Kifah Stock Exchange – Baghdad 122.250 dinars, while prices for Thursday 122,500 dinars.

Selling and buying prices in banking shops:

Selling price of the dollar = 122.750 dinars.

The price of buying the dollar = 121.750 dinars

Article Credit: mustaqila.com (Special Thanks to both Charles and Tim)
______________________________________________________________

Central_Bank_of_Iraq_Logo

Central Bank of Iraq Auctions $194,883,291 on 22 February 2018

The latest auction was attended by 45 banks and 9 remittance companies. The same institutions attended the auction held on February 22 compared to the previous auction.

Data for the February 22 auction was made public by CBI Announcement Number 3641.

Read More: http://www.dinarupdates.com/blog/
______________________________________________________________

[Based on Kaperoni’s 8 dinar commission rule some feel the percentage difference between the official rate and market rate needs to be 1214 to meet the IMF 2% stipulation. However, no one seems to be clear on how to calculate the number – opinions range from 1203 to 1214]

______________________________________________________________

URGENT The dollar is blowing in Iraq

Foreign exchange markets in Baghdad, on Wednesday morning, a significant decline in the exchange rate of the dollar against the Iraqi dinar.

The market price in the Kifah Exchange in Baghdad was 1220 dinars per dollar, or 122 thousand dinars for one hundred dollars.

The prices of selling and buying dollars in banking companies were:

The selling price of one dollar 1225 dinars, or 122 thousand and 500 dinars, for one hundred dollars.

And the purchase price of the dollar is 1215 dinars, or 121 thousand and 500 dinars, for one hundred dollars.

Foreign Exchange Rates:

EUR World Price: 100 Euro = 123.23

GBP The World Price: 100 Bounds = 139.85 $ The

Turkish Lira The International Price: $ 100 = 379.15 Turkish Lira.

Article Credit: http://www.alliraqnews.com (Special Thanks to Tim Tarkington)

BGG ~ Listen folks, this is good news. The Dinar is getting stronger. It is harder to get (over here), the price is going up and the exchange rate is better over there (for us). None of this is bad. It is all good.

______________________________________________________________

Erbil-Baghdad Agreement Imminent

ERBIL — The Kurdistan Region and Iraqi governments are close to reach an agreement over their disputes in the nearest future, said a source close to Iraqi Prime Minister Haider al-Abadi.

The high-level delegations from Erbil and Baghdad are due to resolve the differences over Kurdistan Region’s airports, customs and border lines, the source told Shafaq News.

He further revealed that the Kurdistan Regional Government has already agreed with most of the points in the political deal, the rest would remain under discussion.

Iraqi Prime Minister Haider al-Abadi said earlier the day that Erbil and Sulaymaniyah airports would soon be re-opened after over four months since Baghdad imposed a flight ban on the Kurdish region.

Article Credit: basnews.com (Special Thanks to Tim Tarkington)
______________________________________________________________

sandyf (Dinar Guru) – …it is almost odds on certainty that the IQD will never float.

______________________________________________________________

The date of voting on the budget of 2018

Baghdad News – A member of the Finance Committee of Parliament Mahasen Hamdoun, said Monday that next Tuesday is the date of voting on the budget in 2018.

Hamadoun said in a press statement that ‘the Finance Committee continues its meetings to discuss the budget and will not clear things, only on the day of voting on it’.

“The vote on the budget will be next Tuesday,” she said, stressing that ‘deductions of salaries of employees stopped in the budget’.

Read More: http://www.dinarupdates.com/showthread.php?56313-Disclosure-of-the-date-of-voting-on-the-budget-of-2018
______________________________________________________________

______________________________________________________________

Iraq prime minister promises corruption crackdown, says laws will protect nervous foreign investors

Read Full Text with Commentary: http://www.dinarupdates.com/blog/
______________________________________________________________

______________________________________________________________

Float the Iraqi dinar and stop the auction currency is the only solution of the Iraqi economy.

Read Full Text with Commentary: http://www.dinarupdates.com/blog/
______________________________________________________________

COMMITTEE OF ACCOUNTABILITY: ANNOUNCE THE NAMES OF 5,000 PEOPLE INCLUDED IN THE SEIZURE OF FUNDS THIS WEEK

Al-Suhail, who is covered by the decision to hold the money, estimated about 5,000 persons, while the names of tens of thousands will be issued and they can be disposed of afterwards.

(Special thanks to Vernell)

BGG ~ Funny how that works… about one day after they realize the world isn’t going to “give them” anymore money, they go back and think about getting it back from the crooked politicians who’ve been stealing from the GOI and the people of Iraq.

According to recent estimates, they could collect as much as 500 BILLION (USD) back to the state treasury by enacting and enforcing simple legislation they’ve had in the works for some time now.

P.S. as reported in major OP ED’s in Baghdad recently, Maliki and his henchmen had better wind up on this list…

It is critical to Iraq’s long term success to get a handle on the endemic corruption.

______________________________________________________________

Central Bank of Iraq Auctions $198,173,094 on 15 February 2018

The latest auction was attended by 45 banks and 9 remittance companies. The same institutions attended the auction held on February 15 compared to the previous auction.

Data for the February 15 auction was made public by CBI Announcement Number 3636.

BGG ~ I will continue to highlight the regular auctions. After recently asking around about the reasons for the “tightening” of the supply of Dinar in the U.S… one of the main reasons I got was the fewer and fewer auctions. Wait – what?!? They are still having fairly robust auctions.

So, obviously, that’s not true… so what is it?

Another possibility is this MASSIVE financial embargo on Kurdistan, provided this was where currency was coming from.

I have also heard of a couple of major players talking about having money in – or being able to get money out of Kurdistan… all baloney. Kurdistan has been under very tight controls since snubbing the world diplomats with this sham vote pushed by Barzani.

Why was it a sham vote? Simple fact: you can’t just take what isn’t yours to take just because you vote on it.

Back to my previous rebuttal – anyone who actually had money in Kurdistan would have either gotten it out or is REALLY “up a creek”… likely just more B.S.

So…

1) Fewer auctions?

2) Tightening borders (fewer exports)?

3) More demand? I sincerely doubt it.

4) IMHO and most likely, the supply here in the U.S. from disgruntled sellers, which is likely where the bulk of the U.S. supply really comes from, and current interested buyers has finally reached a point of parity where the “supply – demand” scales are more evenly balanced.

Hence, the price goes up.

______________________________________________________________

Iraq receives nearly $ 11 billion from Arab and foreign countries for reconstruction

Baghdad Mawazine News – Iraq received nearly 11 billion dollars from Arab and foreign countries during the Kuwait International Conference for the Reconstruction of Iraq.

Saudi Arabia’s foreign minister, Adel al-Jubeir, said that “the kingdom has allocated $ 1.5 billion for reconstruction projects in Iraq and the financing of Saudi exports to it.”

While the Turkish Foreign Minister Mouloud Javishoglu, during the conference, to provide five billion dollars to support the reconstruction of Iraq.

Iraq also received $ 100 million as a contribution from Australia to reconstruction, while Britain pledged up to $ 1 billion a year to Iraq in the form of export credit over 10 years.

Finland has donated $ 10 million to carry out humanitarian projects in Iraq and has pledged to train Iraqi forces.

While Qatar allocated one billion dollars in the form of loans and investments and export facilities for its products in Iraq.

BGG ~ I keep hearing the complaints about Iraq getting all kinds of “welfare” as though they are living on these “pending grants” and IMF loans (instead of revaluing their currency).

I would be careful in assuming this is the situation or that any of this is any kind of “hold-up” to economic and monetary reform. I doubt so very much.

Everyone (as in – the investors and countries) wants to get close, be in on the beginning, but not so much so that they are just giving “hand-outs” with nothing in return. Iraq has to do their part. I get a little bit of the sense Iraq is kind of getting the cart before the horse with this latest conference.

It has long been speculated (and openly reported by Iraqi economists) Iraq would be hit with a “wall” of investment capitol when they truly started economic, monetary and governance reforms. However, it does not appear to me we are quite to this point yet. Everyone wants in – Iraq just don’t have the temperature quite right yet.

Keep in mind… these are “allocations”, “pledges” and “financing” and “projected exports” for projects. Basically these are all “feel good, sweet nothings” at a conference.

Next Monday we’ll see what’s what. Thus far they are well short of the 100 billion in give-aways (and grants) they were asking for.

On the other hand – why should they be given anything (for free)? If they would just pass corruption law(s) currently caught up in their Parliament’s legislative log-jam and then enforce them, their state treasury will swell by an estimated 500 billion (as they have plainly reported).

No need for anything from anyone.

Further, it is my opinion, Iraq should be held to account for (that means – PAY FOR) the military and humanitarian aid tab they’ve run up over the last few years.

______________________________________________________________

Iraq is ready to reform the financial and economic sectors

Economy News Baghdad: UN Secretary-General Antonio Guterich said Iraq was ready to reform the financial and economic sectors.

“The United Nations launches a grant program that helps repair infrastructure, improves daily life and helps improve economic reforms and revitalize areas that have been damaged,” he said.

(Special Thanks to Loopster for sharing)
______________________________________________________________

World Bank: Iraq is the best place to invest in the world

Read More: http://www.dinarupdates.com/showthread.php?56255-World-Bank-Iraq-is-the-best-place-to-invest-in-the-world
______________________________________________________________

The @IraqiGovt is implementing reforms

Follow us on twitter @DinarUpdates !!

______________________________________________________________

____________________________________________________________

Sources: away from the Kurds National Alliance and the Union of forces agree to pass the budget

Image result for picture of Kurdish National Alliance

Read more: http://www.dinarupdates.com/blog/
____________________________________________________________

Former minister: $ 500 billion will return to the state by applying the law “Where do you get this”

The House of Representatives on Saturday, during the session of the House of Representatives first reading of the proposed law on graft “Where you get this.”

“Former Minister of Water Resources Mohsen al-Shammari, it is likely to recover 500 billion dollars to the state treasury if the law applies” Where do you get this? “…

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

BGG ~ 500 Billion USD is an awful lot of money… especially when you consider Iraq is only asking for 100 Billion for their COMPLETE rebuilding process.

This is the size and scope of their corruption problem. This bill will be a problem. Everyone voting on it is crooked. Kinda’ like trying to get term limits passed here.

____________________________________________________________

Masoum stresses Iraq's urgent need for a solid and open economy

Masoum stresses Iraq’s urgent need for a solid and open economy

{Baghdad: Al-Furat News} President Fuad Masum, stressed the urgent need of Iraq to build a solid economy.

Read More: http://www.dinarupdates.com/blog/
____________________________________________________________

Special for change .. Abadi of parliament: the international community will not help Iraq if the budget is not approved

Quoting the channel of change .. Abadi of parliament: the international community will not help Iraq if the budget is not approved

Altahreernews.com

BGG ~ Oh wow. We’ll this pretty much spells it out. However, keep in mind – this is likely Abadi talking TO his Parliament, urging them to adopt their budget.

When I initially started down this line of reasoning, I had no idea international sentiment was as tough as it appears to be. WOW!!

The UN, IMF and WB all appear to want to support Iraq in the worst way – but it also very much appears there are results that are yet required.

P.S. This might also explain this very direct, “hands on” push by Abadi to get the budget done.

We wait and watch.

____________________________________________________________

Al-Alusi: Donor countries will not pay one dirham to a corrupt government

Special Mawazine News – Parliamentarian Mithal al-Alusi said on Tuesday that donor countries would not pay one dirham to a government accused of corruption.

“The donor countries can not be assured of their support at the donor conference to be held in Kuwait next month,” Alusi told Mawazine News.

“Those countries will not give Iraq a single dirham, because the government and the conservatives are accused of corruption,” he said.

“The states have informed the Iraqi government and politicians (we will not give you money because you are not trustworthy),” Alusi said.

The government has earlier announced efforts to coordinate with the Kuwaiti government to invite more than 70 countries to the donors conference scheduled to be held in Kuwait in February.

Source

Paul Moseley – “BGG YOU HIT THE NAIL ON THE HEAD”!!

BGG ~ Another accurate portrayal in the news. That is all. Thank you though 🙂

I have been talking the last however long about what Abadi needs to do along the lines of a real fight against corruption and why. Then I came out and did a fairly long dissertation on the matter. Some people didn’t like what I had to say… I only call it the way I see it.

Then this came out today…

…”Those countries will not give Iraq a single dirham, because the government and the conservatives are accused of corruption,” he said…

This might explain the less-than-luke-warm response Abadi got while at Davos.

____________________________________________________________

Abadi’s war against corruption must begin with Maliki and his henchmen

Corruption in Iraq has caused severe poverty in Iraq, which led to civil and sectarian strife that caused the extreme damages to the country’s infrastructure.

Shia parties lead corruption…

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

______________________________________________________________

Post RV Checklist (it’s getting to be that time!! Listen up!!)

Dos and Don’ts of Windfall Wealth:

Treat it like a PowerBall win

– Tell no one, not even family. If you must talk, do so with one who is already in the know.

– Don’t run out & buy new “stuff”. People notice.

– Get an unpublished number and give it out very sparingly.

– Get a tax accountant you can trust to make sure the IRS is satisfied (Certified Opinion is something to look into) and pursue asset protection…

If you found this blog, our website or chats helpful – Forward it to a friend!! We couldn’t do it without you!! Thanks – BGG!!

www.DinarUpdates.com

DINAR OBSERVER DAILY – Mar. 1st

Posted on March 1, 2018 by The Dinar Observer

The stability of the dollar exchange rate against the Iraqi dinar

(Independent) … The prices of the dollar exchange rate stabilized on the Stock Exchange and local markets on Tuesday (February 27, 2018).

Kifah Stock Exchange – Baghdad 122,000 dinars, the same price for Monday.

Selling and buying prices in banking shops:

Selling price of the dollar = 122,500 dinars.

The price of buying the dollar = 121.500 dinars.

Article Credit: mustaqila.com

BGG ~ This was from yesterday… I haven’t seen anything further on the OR/MR parity yet today (it’s what I’ll be watching close for a few days).

It’s is basically saying that after a few days of gains – the value of the Dinar has stabilized for now.

______________________________________________________________

Nusseiri: The implementation of the strategy of the Central Bank contributed to the improvement of the dinar exchange rate against the dollar

Read Full Text: http://www.dinarupdates.com/showthread.php?56381-The-implementation-of-the-strategy-of-the-CBI-contributed-to-the-Dinar-improvement

(Special Thanks to Vernell)
______________________________________________________________

BGG Q & A:

Q: What is this 90 day 2 % everyone talking about has it started and does it mean we have to have 2 % for 90 days before a rv ?

A: If I recall correctly, the “IMF 2% rule” refers to the spread between the Official rate and Market rate of the currency on any given day.

The rule is, basically – they must maintain this 2% (or less) gap for at least 90 days prior to accepting IMF Article 8 general obligations (as a member country) and concurrently from then on. Now – would the IMF allow them some latitude on the 90 day entry point? Possibly.

However, the real issue everyone is stewing over is this…

Does this recent closing of the gap between the “Official rate” and “Market rate” forecast some coming change or is it much ado about nothing?

There are articles regularly touting the tightening of this gap… or the “Strengthening of the Dinar against the Dollar” or some other various titles along those same lines. Ask yourself why? Because they know what it means.

Whichever side of the fence you are on here, this tightening of the OR/MR gap is the single most visible, interesting and encouraging “data point” we’ve seen in a very, very long time…

Read More: http://www.dinarupdates.com/blog/
______________________________________________________________

______________________________________________________________

Sudani: Iraq is moving towards a market economy

The Sudani, said «the Ministry of Labor and Social Affairs and its supporters began to pay attention to issues of poverty and unemployment through the enactment of new laws».

Article Credit: alsabaah.iq (Special Thanks to Tim Tarkington)
______________________________________________________________

Today, the dollar is falling against the Iraqi dinar

(Independent) .. The prices of the dollar exchange rate resumed the decline with the beginning of this week on the stock market and local markets on Saturday (24 February 2018).

Kifah Stock Exchange – Baghdad 122.250 dinars, while prices for Thursday 122,500 dinars.

Selling and buying prices in banking shops:

Selling price of the dollar = 122.750 dinars.

The price of buying the dollar = 121.750 dinars

Article Credit: mustaqila.com (Special Thanks to both Charles and Tim)
______________________________________________________________

Central_Bank_of_Iraq_Logo

Central Bank of Iraq Auctions $194,883,291 on 22 February 2018

The latest auction was attended by 45 banks and 9 remittance companies. The same institutions attended the auction held on February 22 compared to the previous auction.

Data for the February 22 auction was made public by CBI Announcement Number 3641.

Read More: http://www.dinarupdates.com/blog/
______________________________________________________________

[Based on Kaperoni’s 8 dinar commission rule some feel the percentage difference between the official rate and market rate needs to be 1214 to meet the IMF 2% stipulation. However, no one seems to be clear on how to calculate the number – opinions range from 1203 to 1214]

______________________________________________________________

URGENT The dollar is blowing in Iraq

Foreign exchange markets in Baghdad, on Wednesday morning, a significant decline in the exchange rate of the dollar against the Iraqi dinar.

The market price in the Kifah Exchange in Baghdad was 1220 dinars per dollar, or 122 thousand dinars for one hundred dollars.

The prices of selling and buying dollars in banking companies were:

The selling price of one dollar 1225 dinars, or 122 thousand and 500 dinars, for one hundred dollars.

And the purchase price of the dollar is 1215 dinars, or 121 thousand and 500 dinars, for one hundred dollars.

Foreign Exchange Rates:

EUR World Price: 100 Euro = 123.23

GBP The World Price: 100 Bounds = 139.85 $ The

Turkish Lira The International Price: $ 100 = 379.15 Turkish Lira.

Article Credit: http://www.alliraqnews.com (Special Thanks to Tim Tarkington)

BGG ~ Listen folks, this is good news. The Dinar is getting stronger. It is harder to get (over here), the price is going up and the exchange rate is better over there (for us). None of this is bad. It is all good.

______________________________________________________________

Erbil-Baghdad Agreement Imminent

ERBIL — The Kurdistan Region and Iraqi governments are close to reach an agreement over their disputes in the nearest future, said a source close to Iraqi Prime Minister Haider al-Abadi.

The high-level delegations from Erbil and Baghdad are due to resolve the differences over Kurdistan Region’s airports, customs and border lines, the source told Shafaq News.

He further revealed that the Kurdistan Regional Government has already agreed with most of the points in the political deal, the rest would remain under discussion.

Iraqi Prime Minister Haider al-Abadi said earlier the day that Erbil and Sulaymaniyah airports would soon be re-opened after over four months since Baghdad imposed a flight ban on the Kurdish region.

Article Credit: basnews.com (Special Thanks to Tim Tarkington)
______________________________________________________________

sandyf (Dinar Guru) – …it is almost odds on certainty that the IQD will never float.

______________________________________________________________

The date of voting on the budget of 2018

Baghdad News – A member of the Finance Committee of Parliament Mahasen Hamdoun, said Monday that next Tuesday is the date of voting on the budget in 2018.

Hamadoun said in a press statement that ‘the Finance Committee continues its meetings to discuss the budget and will not clear things, only on the day of voting on it’.

“The vote on the budget will be next Tuesday,” she said, stressing that ‘deductions of salaries of employees stopped in the budget’.

Read More: http://www.dinarupdates.com/showthread.php?56313-Disclosure-of-the-date-of-voting-on-the-budget-of-2018
______________________________________________________________

______________________________________________________________

Iraq prime minister promises corruption crackdown, says laws will protect nervous foreign investors

Read Full Text with Commentary: http://www.dinarupdates.com/blog/
______________________________________________________________

______________________________________________________________

Float the Iraqi dinar and stop the auction currency is the only solution of the Iraqi economy.

Read Full Text with Commentary: http://www.dinarupdates.com/blog/
______________________________________________________________

COMMITTEE OF ACCOUNTABILITY: ANNOUNCE THE NAMES OF 5,000 PEOPLE INCLUDED IN THE SEIZURE OF FUNDS THIS WEEK

Al-Suhail, who is covered by the decision to hold the money, estimated about 5,000 persons, while the names of tens of thousands will be issued and they can be disposed of afterwards.

(Special thanks to Vernell)

BGG ~ Funny how that works… about one day after they realize the world isn’t going to “give them” anymore money, they go back and think about getting it back from the crooked politicians who’ve been stealing from the GOI and the people of Iraq.

According to recent estimates, they could collect as much as 500 BILLION (USD) back to the state treasury by enacting and enforcing simple legislation they’ve had in the works for some time now.

P.S. as reported in major OP ED’s in Baghdad recently, Maliki and his henchmen had better wind up on this list…

It is critical to Iraq’s long term success to get a handle on the endemic corruption.

______________________________________________________________

Central Bank of Iraq Auctions $198,173,094 on 15 February 2018

The latest auction was attended by 45 banks and 9 remittance companies. The same institutions attended the auction held on February 15 compared to the previous auction.

Data for the February 15 auction was made public by CBI Announcement Number 3636.

BGG ~ I will continue to highlight the regular auctions. After recently asking around about the reasons for the “tightening” of the supply of Dinar in the U.S… one of the main reasons I got was the fewer and fewer auctions. Wait – what?!? They are still having fairly robust auctions.

So, obviously, that’s not true… so what is it?

Another possibility is this MASSIVE financial embargo on Kurdistan, provided this was where currency was coming from.

I have also heard of a couple of major players talking about having money in – or being able to get money out of Kurdistan… all baloney. Kurdistan has been under very tight controls since snubbing the world diplomats with this sham vote pushed by Barzani.

Why was it a sham vote? Simple fact: you can’t just take what isn’t yours to take just because you vote on it.

Back to my previous rebuttal – anyone who actually had money in Kurdistan would have either gotten it out or is REALLY “up a creek”… likely just more B.S.

So…

1) Fewer auctions?

2) Tightening borders (fewer exports)?

3) More demand? I sincerely doubt it.

4) IMHO and most likely, the supply here in the U.S. from disgruntled sellers, which is likely where the bulk of the U.S. supply really comes from, and current interested buyers has finally reached a point of parity where the “supply – demand” scales are more evenly balanced.

Hence, the price goes up.

______________________________________________________________

Iraq receives nearly $ 11 billion from Arab and foreign countries for reconstruction

Baghdad Mawazine News – Iraq received nearly 11 billion dollars from Arab and foreign countries during the Kuwait International Conference for the Reconstruction of Iraq.

Saudi Arabia’s foreign minister, Adel al-Jubeir, said that “the kingdom has allocated $ 1.5 billion for reconstruction projects in Iraq and the financing of Saudi exports to it.”

While the Turkish Foreign Minister Mouloud Javishoglu, during the conference, to provide five billion dollars to support the reconstruction of Iraq.

Iraq also received $ 100 million as a contribution from Australia to reconstruction, while Britain pledged up to $ 1 billion a year to Iraq in the form of export credit over 10 years.

Finland has donated $ 10 million to carry out humanitarian projects in Iraq and has pledged to train Iraqi forces.

While Qatar allocated one billion dollars in the form of loans and investments and export facilities for its products in Iraq.

BGG ~ I keep hearing the complaints about Iraq getting all kinds of “welfare” as though they are living on these “pending grants” and IMF loans (instead of revaluing their currency).

I would be careful in assuming this is the situation or that any of this is any kind of “hold-up” to economic and monetary reform. I doubt so very much.

Everyone (as in – the investors and countries) wants to get close, be in on the beginning, but not so much so that they are just giving “hand-outs” with nothing in return. Iraq has to do their part. I get a little bit of the sense Iraq is kind of getting the cart before the horse with this latest conference.

It has long been speculated (and openly reported by Iraqi economists) Iraq would be hit with a “wall” of investment capitol when they truly started economic, monetary and governance reforms. However, it does not appear to me we are quite to this point yet. Everyone wants in – Iraq just don’t have the temperature quite right yet.

Keep in mind… these are “allocations”, “pledges” and “financing” and “projected exports” for projects. Basically these are all “feel good, sweet nothings” at a conference.

Next Monday we’ll see what’s what. Thus far they are well short of the 100 billion in give-aways (and grants) they were asking for.

On the other hand – why should they be given anything (for free)? If they would just pass corruption law(s) currently caught up in their Parliament’s legislative log-jam and then enforce them, their state treasury will swell by an estimated 500 billion (as they have plainly reported).

No need for anything from anyone.

Further, it is my opinion, Iraq should be held to account for (that means – PAY FOR) the military and humanitarian aid tab they’ve run up over the last few years.

______________________________________________________________

Iraq is ready to reform the financial and economic sectors

Economy News Baghdad: UN Secretary-General Antonio Guterich said Iraq was ready to reform the financial and economic sectors.

“The United Nations launches a grant program that helps repair infrastructure, improves daily life and helps improve economic reforms and revitalize areas that have been damaged,” he said.

(Special Thanks to Loopster for sharing)
______________________________________________________________

World Bank: Iraq is the best place to invest in the world

Read More: http://www.dinarupdates.com/showthread.php?56255-World-Bank-Iraq-is-the-best-place-to-invest-in-the-world
______________________________________________________________

The @IraqiGovt is implementing reforms

Follow us on twitter @DinarUpdates !!

______________________________________________________________

____________________________________________________________

Sources: away from the Kurds National Alliance and the Union of forces agree to pass the budget

Image result for picture of Kurdish National Alliance

Read more: http://www.dinarupdates.com/blog/
____________________________________________________________

Former minister: $ 500 billion will return to the state by applying the law “Where do you get this”

The House of Representatives on Saturday, during the session of the House of Representatives first reading of the proposed law on graft “Where you get this.”

“Former Minister of Water Resources Mohsen al-Shammari, it is likely to recover 500 billion dollars to the state treasury if the law applies” Where do you get this? “…

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

BGG ~ 500 Billion USD is an awful lot of money… especially when you consider Iraq is only asking for 100 Billion for their COMPLETE rebuilding process.

This is the size and scope of their corruption problem. This bill will be a problem. Everyone voting on it is crooked. Kinda’ like trying to get term limits passed here.

____________________________________________________________

Masoum stresses Iraq's urgent need for a solid and open economy

Masoum stresses Iraq’s urgent need for a solid and open economy

{Baghdad: Al-Furat News} President Fuad Masum, stressed the urgent need of Iraq to build a solid economy.

Read More: http://www.dinarupdates.com/blog/
____________________________________________________________

Special for change .. Abadi of parliament: the international community will not help Iraq if the budget is not approved

Quoting the channel of change .. Abadi of parliament: the international community will not help Iraq if the budget is not approved

Altahreernews.com

BGG ~ Oh wow. We’ll this pretty much spells it out. However, keep in mind – this is likely Abadi talking TO his Parliament, urging them to adopt their budget.

When I initially started down this line of reasoning, I had no idea international sentiment was as tough as it appears to be. WOW!!

The UN, IMF and WB all appear to want to support Iraq in the worst way – but it also very much appears there are results that are yet required.

P.S. This might also explain this very direct, “hands on” push by Abadi to get the budget done.

We wait and watch.

____________________________________________________________

Al-Alusi: Donor countries will not pay one dirham to a corrupt government

Special Mawazine News – Parliamentarian Mithal al-Alusi said on Tuesday that donor countries would not pay one dirham to a government accused of corruption.

“The donor countries can not be assured of their support at the donor conference to be held in Kuwait next month,” Alusi told Mawazine News.

“Those countries will not give Iraq a single dirham, because the government and the conservatives are accused of corruption,” he said.

“The states have informed the Iraqi government and politicians (we will not give you money because you are not trustworthy),” Alusi said.

The government has earlier announced efforts to coordinate with the Kuwaiti government to invite more than 70 countries to the donors conference scheduled to be held in Kuwait in February.

Source

Paul Moseley – “BGG YOU HIT THE NAIL ON THE HEAD”!!

BGG ~ Another accurate portrayal in the news. That is all. Thank you though 🙂

I have been talking the last however long about what Abadi needs to do along the lines of a real fight against corruption and why. Then I came out and did a fairly long dissertation on the matter. Some people didn’t like what I had to say… I only call it the way I see it.

Then this came out today…

…”Those countries will not give Iraq a single dirham, because the government and the conservatives are accused of corruption,” he said…

This might explain the less-than-luke-warm response Abadi got while at Davos.

____________________________________________________________

Abadi’s war against corruption must begin with Maliki and his henchmen

Corruption in Iraq has caused severe poverty in Iraq, which led to civil and sectarian strife that caused the extreme damages to the country’s infrastructure.

Shia parties lead corruption…

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

______________________________________________________________

Post RV Checklist (it’s getting to be that time!! Listen up!!)

Dos and Don’ts of Windfall Wealth:

Treat it like a PowerBall win

– Tell no one, not even family. If you must talk, do so with one who is already in the know.

– Don’t run out & buy new “stuff”. People notice.

– Get an unpublished number and give it out very sparingly.

– Get a tax accountant you can trust to make sure the IRS is satisfied (Certified Opinion is something to look into) and pursue asset protection…

If you found this blog, our website or chats helpful – Forward it to a friend!! We couldn’t do it without you!! Thanks – BGG!!

www.DinarUpdates.com

DINAR OBSERVER DAILY – Feb. 27th

Posted on February 27, 2018 by The Dinar Observer

The stability of the dollar exchange rate against the Iraqi dinar

(Independent) … The prices of the dollar exchange rate stabilized on the Stock Exchange and local markets on Tuesday (February 27, 2018).

Kifah Stock Exchange – Baghdad 122,000 dinars, the same price for Monday.

Selling and buying prices in banking shops:

Selling price of the dollar = 122,500 dinars.

The price of buying the dollar = 121.500 dinars.

Article Credit: mustaqila.com

BGG ~ This was from yesterday… I haven’t seen anything further on the OR/MR parity yet today (it’s what I’ll be watching close for a few days).

It’s is basically saying that after a few days of gains – the value of the Dinar has stabilized for now.

______________________________________________________________

Nusseiri: The implementation of the strategy of the Central Bank contributed to the improvement of the dinar exchange rate against the dollar

Read Full Text: http://www.dinarupdates.com/showthread.php?56381-The-implementation-of-the-strategy-of-the-CBI-contributed-to-the-Dinar-improvement

(Special Thanks to Vernell)
______________________________________________________________

BGG Q & A:

Q: What is this 90 day 2 % everyone talking about has it started and does it mean we have to have 2 % for 90 days before a rv ?

A: If I recall correctly, the “IMF 2% rule” refers to the spread between the Official rate and Market rate of the currency on any given day.

The rule is, basically – they must maintain this 2% (or less) gap for at least 90 days prior to accepting IMF Article 8 general obligations (as a member country) and concurrently from then on. Now – would the IMF allow them some latitude on the 90 day entry point? Possibly.

However, the real issue everyone is stewing over is this…

Does this recent closing of the gap between the “Official rate” and “Market rate” forecast some coming change or is it much ado about nothing?

There are articles regularly touting the tightening of this gap… or the “Strengthening of the Dinar against the Dollar” or some other various titles along those same lines. Ask yourself why? Because they know what it means.

Whichever side of the fence you are on here, this tightening of the OR/MR gap is the single most visible, interesting and encouraging “data point” we’ve seen in a very, very long time…

Read More: http://www.dinarupdates.com/blog/
______________________________________________________________

______________________________________________________________

Sudani: Iraq is moving towards a market economy

The Sudani, said «the Ministry of Labor and Social Affairs and its supporters began to pay attention to issues of poverty and unemployment through the enactment of new laws».

Article Credit: alsabaah.iq (Special Thanks to Tim Tarkington)
______________________________________________________________

Today, the dollar is falling against the Iraqi dinar

(Independent) .. The prices of the dollar exchange rate resumed the decline with the beginning of this week on the stock market and local markets on Saturday (24 February 2018).

Kifah Stock Exchange – Baghdad 122.250 dinars, while prices for Thursday 122,500 dinars.

Selling and buying prices in banking shops:

Selling price of the dollar = 122.750 dinars.

The price of buying the dollar = 121.750 dinars

Article Credit: mustaqila.com (Special Thanks to both Charles and Tim)
______________________________________________________________

Central_Bank_of_Iraq_Logo

Central Bank of Iraq Auctions $194,883,291 on 22 February 2018

The latest auction was attended by 45 banks and 9 remittance companies. The same institutions attended the auction held on February 22 compared to the previous auction.

Data for the February 22 auction was made public by CBI Announcement Number 3641.

Read More: http://www.dinarupdates.com/blog/
______________________________________________________________

[Based on Kaperoni’s 8 dinar commission rule some feel the percentage difference between the official rate and market rate needs to be 1214 to meet the IMF 2% stipulation. However, no one seems to be clear on how to calculate the number – opinions range from 1203 to 1214]

______________________________________________________________

URGENT The dollar is blowing in Iraq

Foreign exchange markets in Baghdad, on Wednesday morning, a significant decline in the exchange rate of the dollar against the Iraqi dinar.

The market price in the Kifah Exchange in Baghdad was 1220 dinars per dollar, or 122 thousand dinars for one hundred dollars.

The prices of selling and buying dollars in banking companies were:

The selling price of one dollar 1225 dinars, or 122 thousand and 500 dinars, for one hundred dollars.

And the purchase price of the dollar is 1215 dinars, or 121 thousand and 500 dinars, for one hundred dollars.

Foreign Exchange Rates:

EUR World Price: 100 Euro = 123.23

GBP The World Price: 100 Bounds = 139.85 $ The

Turkish Lira The International Price: $ 100 = 379.15 Turkish Lira.

Article Credit: http://www.alliraqnews.com (Special Thanks to Tim Tarkington)

BGG ~ Listen folks, this is good news. The Dinar is getting stronger. It is harder to get (over here), the price is going up and the exchange rate is better over there (for us). None of this is bad. It is all good.

______________________________________________________________

Erbil-Baghdad Agreement Imminent

ERBIL — The Kurdistan Region and Iraqi governments are close to reach an agreement over their disputes in the nearest future, said a source close to Iraqi Prime Minister Haider al-Abadi.

The high-level delegations from Erbil and Baghdad are due to resolve the differences over Kurdistan Region’s airports, customs and border lines, the source told Shafaq News.

He further revealed that the Kurdistan Regional Government has already agreed with most of the points in the political deal, the rest would remain under discussion.

Iraqi Prime Minister Haider al-Abadi said earlier the day that Erbil and Sulaymaniyah airports would soon be re-opened after over four months since Baghdad imposed a flight ban on the Kurdish region.

Article Credit: basnews.com (Special Thanks to Tim Tarkington)
______________________________________________________________

sandyf (Dinar Guru) – …it is almost odds on certainty that the IQD will never float.

______________________________________________________________

The date of voting on the budget of 2018

Baghdad News – A member of the Finance Committee of Parliament Mahasen Hamdoun, said Monday that next Tuesday is the date of voting on the budget in 2018.

Hamadoun said in a press statement that ‘the Finance Committee continues its meetings to discuss the budget and will not clear things, only on the day of voting on it’.

“The vote on the budget will be next Tuesday,” she said, stressing that ‘deductions of salaries of employees stopped in the budget’.

Read More: http://www.dinarupdates.com/showthread.php?56313-Disclosure-of-the-date-of-voting-on-the-budget-of-2018
______________________________________________________________

______________________________________________________________

Iraq prime minister promises corruption crackdown, says laws will protect nervous foreign investors

Read Full Text with Commentary: http://www.dinarupdates.com/blog/
______________________________________________________________

______________________________________________________________

Float the Iraqi dinar and stop the auction currency is the only solution of the Iraqi economy.

Read Full Text with Commentary: http://www.dinarupdates.com/blog/
______________________________________________________________

COMMITTEE OF ACCOUNTABILITY: ANNOUNCE THE NAMES OF 5,000 PEOPLE INCLUDED IN THE SEIZURE OF FUNDS THIS WEEK

Al-Suhail, who is covered by the decision to hold the money, estimated about 5,000 persons, while the names of tens of thousands will be issued and they can be disposed of afterwards.

(Special thanks to Vernell)

BGG ~ Funny how that works… about one day after they realize the world isn’t going to “give them” anymore money, they go back and think about getting it back from the crooked politicians who’ve been stealing from the GOI and the people of Iraq.

According to recent estimates, they could collect as much as 500 BILLION (USD) back to the state treasury by enacting and enforcing simple legislation they’ve had in the works for some time now.

P.S. as reported in major OP ED’s in Baghdad recently, Maliki and his henchmen had better wind up on this list…

It is critical to Iraq’s long term success to get a handle on the endemic corruption.

______________________________________________________________

Central Bank of Iraq Auctions $198,173,094 on 15 February 2018

The latest auction was attended by 45 banks and 9 remittance companies. The same institutions attended the auction held on February 15 compared to the previous auction.

Data for the February 15 auction was made public by CBI Announcement Number 3636.

BGG ~ I will continue to highlight the regular auctions. After recently asking around about the reasons for the “tightening” of the supply of Dinar in the U.S… one of the main reasons I got was the fewer and fewer auctions. Wait – what?!? They are still having fairly robust auctions.

So, obviously, that’s not true… so what is it?

Another possibility is this MASSIVE financial embargo on Kurdistan, provided this was where currency was coming from.

I have also heard of a couple of major players talking about having money in – or being able to get money out of Kurdistan… all baloney. Kurdistan has been under very tight controls since snubbing the world diplomats with this sham vote pushed by Barzani.

Why was it a sham vote? Simple fact: you can’t just take what isn’t yours to take just because you vote on it.

Back to my previous rebuttal – anyone who actually had money in Kurdistan would have either gotten it out or is REALLY “up a creek”… likely just more B.S.

So…

1) Fewer auctions?

2) Tightening borders (fewer exports)?

3) More demand? I sincerely doubt it.

4) IMHO and most likely, the supply here in the U.S. from disgruntled sellers, which is likely where the bulk of the U.S. supply really comes from, and current interested buyers has finally reached a point of parity where the “supply – demand” scales are more evenly balanced.

Hence, the price goes up.

______________________________________________________________

Iraq receives nearly $ 11 billion from Arab and foreign countries for reconstruction

Baghdad Mawazine News – Iraq received nearly 11 billion dollars from Arab and foreign countries during the Kuwait International Conference for the Reconstruction of Iraq.

Saudi Arabia’s foreign minister, Adel al-Jubeir, said that “the kingdom has allocated $ 1.5 billion for reconstruction projects in Iraq and the financing of Saudi exports to it.”

While the Turkish Foreign Minister Mouloud Javishoglu, during the conference, to provide five billion dollars to support the reconstruction of Iraq.

Iraq also received $ 100 million as a contribution from Australia to reconstruction, while Britain pledged up to $ 1 billion a year to Iraq in the form of export credit over 10 years.

Finland has donated $ 10 million to carry out humanitarian projects in Iraq and has pledged to train Iraqi forces.

While Qatar allocated one billion dollars in the form of loans and investments and export facilities for its products in Iraq.

BGG ~ I keep hearing the complaints about Iraq getting all kinds of “welfare” as though they are living on these “pending grants” and IMF loans (instead of revaluing their currency).

I would be careful in assuming this is the situation or that any of this is any kind of “hold-up” to economic and monetary reform. I doubt so very much.

Everyone (as in – the investors and countries) wants to get close, be in on the beginning, but not so much so that they are just giving “hand-outs” with nothing in return. Iraq has to do their part. I get a little bit of the sense Iraq is kind of getting the cart before the horse with this latest conference.

It has long been speculated (and openly reported by Iraqi economists) Iraq would be hit with a “wall” of investment capitol when they truly started economic, monetary and governance reforms. However, it does not appear to me we are quite to this point yet. Everyone wants in – Iraq just don’t have the temperature quite right yet.

Keep in mind… these are “allocations”, “pledges” and “financing” and “projected exports” for projects. Basically these are all “feel good, sweet nothings” at a conference.

Next Monday we’ll see what’s what. Thus far they are well short of the 100 billion in give-aways (and grants) they were asking for.

On the other hand – why should they be given anything (for free)? If they would just pass corruption law(s) currently caught up in their Parliament’s legislative log-jam and then enforce them, their state treasury will swell by an estimated 500 billion (as they have plainly reported).

No need for anything from anyone.

Further, it is my opinion, Iraq should be held to account for (that means – PAY FOR) the military and humanitarian aid tab they’ve run up over the last few years.

______________________________________________________________

Iraq is ready to reform the financial and economic sectors

Economy News Baghdad: UN Secretary-General Antonio Guterich said Iraq was ready to reform the financial and economic sectors.

“The United Nations launches a grant program that helps repair infrastructure, improves daily life and helps improve economic reforms and revitalize areas that have been damaged,” he said.

(Special Thanks to Loopster for sharing)
______________________________________________________________

World Bank: Iraq is the best place to invest in the world

Read More: http://www.dinarupdates.com/showthread.php?56255-World-Bank-Iraq-is-the-best-place-to-invest-in-the-world
______________________________________________________________

The @IraqiGovt is implementing reforms

Follow us on twitter @DinarUpdates !!

______________________________________________________________

____________________________________________________________

Sources: away from the Kurds National Alliance and the Union of forces agree to pass the budget

Image result for picture of Kurdish National Alliance

Read more: http://www.dinarupdates.com/blog/
____________________________________________________________

Former minister: $ 500 billion will return to the state by applying the law “Where do you get this”

The House of Representatives on Saturday, during the session of the House of Representatives first reading of the proposed law on graft “Where you get this.”

“Former Minister of Water Resources Mohsen al-Shammari, it is likely to recover 500 billion dollars to the state treasury if the law applies” Where do you get this? “…

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

BGG ~ 500 Billion USD is an awful lot of money… especially when you consider Iraq is only asking for 100 Billion for their COMPLETE rebuilding process.

This is the size and scope of their corruption problem. This bill will be a problem. Everyone voting on it is crooked. Kinda’ like trying to get term limits passed here.

____________________________________________________________

Masoum stresses Iraq's urgent need for a solid and open economy

Masoum stresses Iraq’s urgent need for a solid and open economy

{Baghdad: Al-Furat News} President Fuad Masum, stressed the urgent need of Iraq to build a solid economy.

Read More: http://www.dinarupdates.com/blog/
____________________________________________________________

Special for change .. Abadi of parliament: the international community will not help Iraq if the budget is not approved

Quoting the channel of change .. Abadi of parliament: the international community will not help Iraq if the budget is not approved

Altahreernews.com

BGG ~ Oh wow. We’ll this pretty much spells it out. However, keep in mind – this is likely Abadi talking TO his Parliament, urging them to adopt their budget.

When I initially started down this line of reasoning, I had no idea international sentiment was as tough as it appears to be. WOW!!

The UN, IMF and WB all appear to want to support Iraq in the worst way – but it also very much appears there are results that are yet required.

P.S. This might also explain this very direct, “hands on” push by Abadi to get the budget done.

We wait and watch.

____________________________________________________________

Al-Alusi: Donor countries will not pay one dirham to a corrupt government

Special Mawazine News – Parliamentarian Mithal al-Alusi said on Tuesday that donor countries would not pay one dirham to a government accused of corruption.

“The donor countries can not be assured of their support at the donor conference to be held in Kuwait next month,” Alusi told Mawazine News.

“Those countries will not give Iraq a single dirham, because the government and the conservatives are accused of corruption,” he said.

“The states have informed the Iraqi government and politicians (we will not give you money because you are not trustworthy),” Alusi said.

The government has earlier announced efforts to coordinate with the Kuwaiti government to invite more than 70 countries to the donors conference scheduled to be held in Kuwait in February.

Source

Paul Moseley – “BGG YOU HIT THE NAIL ON THE HEAD”!!

BGG ~ Another accurate portrayal in the news. That is all. Thank you though 🙂

I have been talking the last however long about what Abadi needs to do along the lines of a real fight against corruption and why. Then I came out and did a fairly long dissertation on the matter. Some people didn’t like what I had to say… I only call it the way I see it.

Then this came out today…

…”Those countries will not give Iraq a single dirham, because the government and the conservatives are accused of corruption,” he said…

This might explain the less-than-luke-warm response Abadi got while at Davos.

____________________________________________________________

Abadi’s war against corruption must begin with Maliki and his henchmen

Corruption in Iraq has caused severe poverty in Iraq, which led to civil and sectarian strife that caused the extreme damages to the country’s infrastructure.

Shia parties lead corruption…

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

______________________________________________________________

Post RV Checklist (it’s getting to be that time!! Listen up!!)

Dos and Don’ts of Windfall Wealth:

Treat it like a PowerBall win

– Tell no one, not even family. If you must talk, do so with one who is already in the know.

– Don’t run out & buy new “stuff”. People notice.

– Get an unpublished number and give it out very sparingly.

– Get a tax accountant you can trust to make sure the IRS is satisfied (Certified Opinion is something to look into) and pursue asset protection…

If you found this blog, our website or chats helpful – Forward it to a friend!! We couldn’t do it without you!! Thanks – BGG!!

www.DinarUpdates.com

DINAR OBSERVER DAILY – Feb. 26th

Posted on February 26, 2018 by The Dinar Observer

Sudani: Iraq is moving towards a market economy

The Sudani, said «the Ministry of Labor and Social Affairs and its supporters began to pay attention to issues of poverty and unemployment through the enactment of new laws».

Article Credit: alsabaah.iq (Special Thanks to Tim Tarkington)
______________________________________________________________

______________________________________________________________

Today, the dollar is falling against the Iraqi dinar

(Independent) .. The prices of the dollar exchange rate resumed the decline with the beginning of this week on the stock market and local markets on Saturday (24 February 2018).

Kifah Stock Exchange – Baghdad 122.250 dinars, while prices for Thursday 122,500 dinars.

Selling and buying prices in banking shops:

Selling price of the dollar = 122.750 dinars.

The price of buying the dollar = 121.750 dinars

Article Credit: mustaqila.com (Special Thanks to both Charles and Tim)
______________________________________________________________

Central_Bank_of_Iraq_Logo

Central Bank of Iraq Auctions $194,883,291 on 22 February 2018

The latest auction was attended by 45 banks and 9 remittance companies. The same institutions attended the auction held on February 22 compared to the previous auction.

Data for the February 22 auction was made public by CBI Announcement Number 3641.

Read More: http://www.dinarupdates.com/blog/
______________________________________________________________

[Based on Kaperoni’s 8 dinar commission rule some feel the percentage difference between the official rate and market rate needs to be 1214 to meet the IMF 2% stipulation. However, no one seems to be clear on how to calculate the number – opinions range from 1203 to 1214]

______________________________________________________________

URGENT The dollar is blowing in Iraq

Foreign exchange markets in Baghdad, on Wednesday morning, a significant decline in the exchange rate of the dollar against the Iraqi dinar.

The market price in the Kifah Exchange in Baghdad was 1220 dinars per dollar, or 122 thousand dinars for one hundred dollars.

The prices of selling and buying dollars in banking companies were:

The selling price of one dollar 1225 dinars, or 122 thousand and 500 dinars, for one hundred dollars.

And the purchase price of the dollar is 1215 dinars, or 121 thousand and 500 dinars, for one hundred dollars.

Foreign Exchange Rates:

EUR World Price: 100 Euro = 123.23

GBP The World Price: 100 Bounds = 139.85 $ The

Turkish Lira The International Price: $ 100 = 379.15 Turkish Lira.

Article Credit: http://www.alliraqnews.com (Special Thanks to Tim Tarkington)

BGG ~ Listen folks, this is good news. The Dinar is getting stronger. It is harder to get (over here), the price is going up and the exchange rate is better over there (for us). None of this is bad. It is all good.

______________________________________________________________

Erbil-Baghdad Agreement Imminent

ERBIL — The Kurdistan Region and Iraqi governments are close to reach an agreement over their disputes in the nearest future, said a source close to Iraqi Prime Minister Haider al-Abadi.

The high-level delegations from Erbil and Baghdad are due to resolve the differences over Kurdistan Region’s airports, customs and border lines, the source told Shafaq News.

He further revealed that the Kurdistan Regional Government has already agreed with most of the points in the political deal, the rest would remain under discussion.

Iraqi Prime Minister Haider al-Abadi said earlier the day that Erbil and Sulaymaniyah airports would soon be re-opened after over four months since Baghdad imposed a flight ban on the Kurdish region.

Article Credit: basnews.com (Special Thanks to Tim Tarkington)
______________________________________________________________

sandyf (Dinar Guru) – …it is almost odds on certainty that the IQD will never float.

______________________________________________________________

The date of voting on the budget of 2018

Baghdad News – A member of the Finance Committee of Parliament Mahasen Hamdoun, said Monday that next Tuesday is the date of voting on the budget in 2018.

Hamadoun said in a press statement that ‘the Finance Committee continues its meetings to discuss the budget and will not clear things, only on the day of voting on it’.

“The vote on the budget will be next Tuesday,” she said, stressing that ‘deductions of salaries of employees stopped in the budget’.

Read More: http://www.dinarupdates.com/showthread.php?56313-Disclosure-of-the-date-of-voting-on-the-budget-of-2018
______________________________________________________________

______________________________________________________________

Iraq prime minister promises corruption crackdown, says laws will protect nervous foreign investors

Read Full Text with Commentary: http://www.dinarupdates.com/blog/
______________________________________________________________

______________________________________________________________

Float the Iraqi dinar and stop the auction currency is the only solution of the Iraqi economy.

Read Full Text with Commentary: http://www.dinarupdates.com/blog/
______________________________________________________________

COMMITTEE OF ACCOUNTABILITY: ANNOUNCE THE NAMES OF 5,000 PEOPLE INCLUDED IN THE SEIZURE OF FUNDS THIS WEEK

Al-Suhail, who is covered by the decision to hold the money, estimated about 5,000 persons, while the names of tens of thousands will be issued and they can be disposed of afterwards.

(Special thanks to Vernell)

BGG ~ Funny how that works… about one day after they realize the world isn’t going to “give them” anymore money, they go back and think about getting it back from the crooked politicians who’ve been stealing from the GOI and the people of Iraq.

According to recent estimates, they could collect as much as 500 BILLION (USD) back to the state treasury by enacting and enforcing simple legislation they’ve had in the works for some time now.

P.S. as reported in major OP ED’s in Baghdad recently, Maliki and his henchmen had better wind up on this list…

It is critical to Iraq’s long term success to get a handle on the endemic corruption.

______________________________________________________________

Central Bank of Iraq Auctions $198,173,094 on 15 February 2018

The latest auction was attended by 45 banks and 9 remittance companies. The same institutions attended the auction held on February 15 compared to the previous auction.

Data for the February 15 auction was made public by CBI Announcement Number 3636.

BGG ~ I will continue to highlight the regular auctions. After recently asking around about the reasons for the “tightening” of the supply of Dinar in the U.S… one of the main reasons I got was the fewer and fewer auctions. Wait – what?!? They are still having fairly robust auctions.

So, obviously, that’s not true… so what is it?

Another possibility is this MASSIVE financial embargo on Kurdistan, provided this was where currency was coming from.

I have also heard of a couple of major players talking about having money in – or being able to get money out of Kurdistan… all baloney. Kurdistan has been under very tight controls since snubbing the world diplomats with this sham vote pushed by Barzani.

Why was it a sham vote? Simple fact: you can’t just take what isn’t yours to take just because you vote on it.

Back to my previous rebuttal – anyone who actually had money in Kurdistan would have either gotten it out or is REALLY “up a creek”… likely just more B.S.

So…

1) Fewer auctions?

2) Tightening borders (fewer exports)?

3) More demand? I sincerely doubt it.

4) IMHO and most likely, the supply here in the U.S. from disgruntled sellers, which is likely where the bulk of the U.S. supply really comes from, and current interested buyers has finally reached a point of parity where the “supply – demand” scales are more evenly balanced.

Hence, the price goes up.

______________________________________________________________

Iraq receives nearly $ 11 billion from Arab and foreign countries for reconstruction

Baghdad Mawazine News – Iraq received nearly 11 billion dollars from Arab and foreign countries during the Kuwait International Conference for the Reconstruction of Iraq.

Saudi Arabia’s foreign minister, Adel al-Jubeir, said that “the kingdom has allocated $ 1.5 billion for reconstruction projects in Iraq and the financing of Saudi exports to it.”

While the Turkish Foreign Minister Mouloud Javishoglu, during the conference, to provide five billion dollars to support the reconstruction of Iraq.

Iraq also received $ 100 million as a contribution from Australia to reconstruction, while Britain pledged up to $ 1 billion a year to Iraq in the form of export credit over 10 years.

Finland has donated $ 10 million to carry out humanitarian projects in Iraq and has pledged to train Iraqi forces.

While Qatar allocated one billion dollars in the form of loans and investments and export facilities for its products in Iraq.

BGG ~ I keep hearing the complaints about Iraq getting all kinds of “welfare” as though they are living on these “pending grants” and IMF loans (instead of revaluing their currency).

I would be careful in assuming this is the situation or that any of this is any kind of “hold-up” to economic and monetary reform. I doubt so very much.

Everyone (as in – the investors and countries) wants to get close, be in on the beginning, but not so much so that they are just giving “hand-outs” with nothing in return. Iraq has to do their part. I get a little bit of the sense Iraq is kind of getting the cart before the horse with this latest conference.

It has long been speculated (and openly reported by Iraqi economists) Iraq would be hit with a “wall” of investment capitol when they truly started economic, monetary and governance reforms. However, it does not appear to me we are quite to this point yet. Everyone wants in – Iraq just don’t have the temperature quite right yet.

Keep in mind… these are “allocations”, “pledges” and “financing” and “projected exports” for projects. Basically these are all “feel good, sweet nothings” at a conference.

Next Monday we’ll see what’s what. Thus far they are well short of the 100 billion in give-aways (and grants) they were asking for.

On the other hand – why should they be given anything (for free)? If they would just pass corruption law(s) currently caught up in their Parliament’s legislative log-jam and then enforce them, their state treasury will swell by an estimated 500 billion (as they have plainly reported).

No need for anything from anyone.

Further, it is my opinion, Iraq should be held to account for (that means – PAY FOR) the military and humanitarian aid tab they’ve run up over the last few years.

______________________________________________________________

Iraq is ready to reform the financial and economic sectors

Economy News Baghdad: UN Secretary-General Antonio Guterich said Iraq was ready to reform the financial and economic sectors.

“The United Nations launches a grant program that helps repair infrastructure, improves daily life and helps improve economic reforms and revitalize areas that have been damaged,” he said.

(Special Thanks to Loopster for sharing)
______________________________________________________________

World Bank: Iraq is the best place to invest in the world

Read More: http://www.dinarupdates.com/showthread.php?56255-World-Bank-Iraq-is-the-best-place-to-invest-in-the-world
______________________________________________________________

The @IraqiGovt is implementing reforms

Follow us on twitter @DinarUpdates !!

______________________________________________________________

____________________________________________________________

Sources: away from the Kurds National Alliance and the Union of forces agree to pass the budget

Image result for picture of Kurdish National Alliance

Read more: http://www.dinarupdates.com/blog/
____________________________________________________________

Former minister: $ 500 billion will return to the state by applying the law “Where do you get this”

The House of Representatives on Saturday, during the session of the House of Representatives first reading of the proposed law on graft “Where you get this.”

“Former Minister of Water Resources Mohsen al-Shammari, it is likely to recover 500 billion dollars to the state treasury if the law applies” Where do you get this? “…

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

BGG ~ 500 Billion USD is an awful lot of money… especially when you consider Iraq is only asking for 100 Billion for their COMPLETE rebuilding process.

This is the size and scope of their corruption problem. This bill will be a problem. Everyone voting on it is crooked. Kinda’ like trying to get term limits passed here.

____________________________________________________________

Masoum stresses Iraq's urgent need for a solid and open economy

Masoum stresses Iraq’s urgent need for a solid and open economy

{Baghdad: Al-Furat News} President Fuad Masum, stressed the urgent need of Iraq to build a solid economy.

Read More: http://www.dinarupdates.com/blog/
____________________________________________________________

Special for change .. Abadi of parliament: the international community will not help Iraq if the budget is not approved

Quoting the channel of change .. Abadi of parliament: the international community will not help Iraq if the budget is not approved

Altahreernews.com

BGG ~ Oh wow. We’ll this pretty much spells it out. However, keep in mind – this is likely Abadi talking TO his Parliament, urging them to adopt their budget.

When I initially started down this line of reasoning, I had no idea international sentiment was as tough as it appears to be. WOW!!

The UN, IMF and WB all appear to want to support Iraq in the worst way – but it also very much appears there are results that are yet required.

P.S. This might also explain this very direct, “hands on” push by Abadi to get the budget done.

We wait and watch.

____________________________________________________________

Al-Alusi: Donor countries will not pay one dirham to a corrupt government

Special Mawazine News – Parliamentarian Mithal al-Alusi said on Tuesday that donor countries would not pay one dirham to a government accused of corruption.

“The donor countries can not be assured of their support at the donor conference to be held in Kuwait next month,” Alusi told Mawazine News.

“Those countries will not give Iraq a single dirham, because the government and the conservatives are accused of corruption,” he said.

“The states have informed the Iraqi government and politicians (we will not give you money because you are not trustworthy),” Alusi said.

The government has earlier announced efforts to coordinate with the Kuwaiti government to invite more than 70 countries to the donors conference scheduled to be held in Kuwait in February.

Source

Paul Moseley – “BGG YOU HIT THE NAIL ON THE HEAD”!!

BGG ~ Another accurate portrayal in the news. That is all. Thank you though 🙂

I have been talking the last however long about what Abadi needs to do along the lines of a real fight against corruption and why. Then I came out and did a fairly long dissertation on the matter. Some people didn’t like what I had to say… I only call it the way I see it.

Then this came out today…

…”Those countries will not give Iraq a single dirham, because the government and the conservatives are accused of corruption,” he said…

This might explain the less-than-luke-warm response Abadi got while at Davos.

____________________________________________________________

Abadi’s war against corruption must begin with Maliki and his henchmen

Corruption in Iraq has caused severe poverty in Iraq, which led to civil and sectarian strife that caused the extreme damages to the country’s infrastructure.

Shia parties lead corruption…

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

______________________________________________________________

Post RV Checklist (it’s getting to be that time!! Listen up!!)

Dos and Don’ts of Windfall Wealth:

Treat it like a PowerBall win

– Tell no one, not even family. If you must talk, do so with one who is already in the know.

– Don’t run out & buy new “stuff”. People notice.

– Get an unpublished number and give it out very sparingly.

– Get a tax accountant you can trust to make sure the IRS is satisfied (Certified Opinion is something to look into) and pursue asset protection…

If you found this blog, our website or chats helpful – Forward it to a friend!! We couldn’t do it without you!! Thanks – BGG!!

www.DinarUpdates.com

DINAR OBSERVER DAILY – Feb. 25th

Posted on February 24, 2018 by The Dinar Observer

Sudani: Iraq is moving towards a market economy

The Sudani, said «the Ministry of Labor and Social Affairs and its supporters began to pay attention to issues of poverty and unemployment through the enactment of new laws».

Article Credit: alsabaah.iq (Special Thanks to Tim Tarkington)
______________________________________________________________

______________________________________________________________

Today, the dollar is falling against the Iraqi dinar

(Independent) .. The prices of the dollar exchange rate resumed the decline with the beginning of this week on the stock market and local markets on Saturday (24 February 2018).

Kifah Stock Exchange – Baghdad 122.250 dinars, while prices for Thursday 122,500 dinars.

Selling and buying prices in banking shops:

Selling price of the dollar = 122.750 dinars.

The price of buying the dollar = 121.750 dinars

Article Credit: mustaqila.com (Special Thanks to both Charles and Tim)
______________________________________________________________

Central_Bank_of_Iraq_Logo

Central Bank of Iraq Auctions $194,883,291 on 22 February 2018

The latest auction was attended by 45 banks and 9 remittance companies. The same institutions attended the auction held on February 22 compared to the previous auction.

Data for the February 22 auction was made public by CBI Announcement Number 3641.

Read More: http://www.dinarupdates.com/blog/
______________________________________________________________

[Based on Kaperoni’s 8 dinar commission rule some feel the percentage difference between the official rate and market rate needs to be 1214 to meet the IMF 2% stipulation. However, no one seems to be clear on how to calculate the number – opinions range from 1203 to 1214]

______________________________________________________________

URGENT The dollar is blowing in Iraq

Foreign exchange markets in Baghdad, on Wednesday morning, a significant decline in the exchange rate of the dollar against the Iraqi dinar.

The market price in the Kifah Exchange in Baghdad was 1220 dinars per dollar, or 122 thousand dinars for one hundred dollars.

The prices of selling and buying dollars in banking companies were:

The selling price of one dollar 1225 dinars, or 122 thousand and 500 dinars, for one hundred dollars.

And the purchase price of the dollar is 1215 dinars, or 121 thousand and 500 dinars, for one hundred dollars.

Foreign Exchange Rates:

EUR World Price: 100 Euro = 123.23

GBP The World Price: 100 Bounds = 139.85 $ The

Turkish Lira The International Price: $ 100 = 379.15 Turkish Lira.

Article Credit: http://www.alliraqnews.com (Special Thanks to Tim Tarkington)

BGG ~ Listen folks, this is good news. The Dinar is getting stronger. It is harder to get (over here), the price is going up and the exchange rate is better over there (for us). None of this is bad. It is all good.

______________________________________________________________

Erbil-Baghdad Agreement Imminent

ERBIL — The Kurdistan Region and Iraqi governments are close to reach an agreement over their disputes in the nearest future, said a source close to Iraqi Prime Minister Haider al-Abadi.

The high-level delegations from Erbil and Baghdad are due to resolve the differences over Kurdistan Region’s airports, customs and border lines, the source told Shafaq News.

He further revealed that the Kurdistan Regional Government has already agreed with most of the points in the political deal, the rest would remain under discussion.

Iraqi Prime Minister Haider al-Abadi said earlier the day that Erbil and Sulaymaniyah airports would soon be re-opened after over four months since Baghdad imposed a flight ban on the Kurdish region.

Article Credit: basnews.com (Special Thanks to Tim Tarkington)
______________________________________________________________

sandyf (Dinar Guru) – …it is almost odds on certainty that the IQD will never float.

______________________________________________________________

The date of voting on the budget of 2018

Baghdad News – A member of the Finance Committee of Parliament Mahasen Hamdoun, said Monday that next Tuesday is the date of voting on the budget in 2018.

Hamadoun said in a press statement that ‘the Finance Committee continues its meetings to discuss the budget and will not clear things, only on the day of voting on it’.

“The vote on the budget will be next Tuesday,” she said, stressing that ‘deductions of salaries of employees stopped in the budget’.

Read More: http://www.dinarupdates.com/showthread.php?56313-Disclosure-of-the-date-of-voting-on-the-budget-of-2018
______________________________________________________________

______________________________________________________________

Iraq prime minister promises corruption crackdown, says laws will protect nervous foreign investors

Read Full Text with Commentary: http://www.dinarupdates.com/blog/
______________________________________________________________

______________________________________________________________

Float the Iraqi dinar and stop the auction currency is the only solution of the Iraqi economy.

Read Full Text with Commentary: http://www.dinarupdates.com/blog/
______________________________________________________________

COMMITTEE OF ACCOUNTABILITY: ANNOUNCE THE NAMES OF 5,000 PEOPLE INCLUDED IN THE SEIZURE OF FUNDS THIS WEEK

Al-Suhail, who is covered by the decision to hold the money, estimated about 5,000 persons, while the names of tens of thousands will be issued and they can be disposed of afterwards.

(Special thanks to Vernell)

BGG ~ Funny how that works… about one day after they realize the world isn’t going to “give them” anymore money, they go back and think about getting it back from the crooked politicians who’ve been stealing from the GOI and the people of Iraq.

According to recent estimates, they could collect as much as 500 BILLION (USD) back to the state treasury by enacting and enforcing simple legislation they’ve had in the works for some time now.

P.S. as reported in major OP ED’s in Baghdad recently, Maliki and his henchmen had better wind up on this list…

It is critical to Iraq’s long term success to get a handle on the endemic corruption.

______________________________________________________________

Central Bank of Iraq Auctions $198,173,094 on 15 February 2018

The latest auction was attended by 45 banks and 9 remittance companies. The same institutions attended the auction held on February 15 compared to the previous auction.

Data for the February 15 auction was made public by CBI Announcement Number 3636.

BGG ~ I will continue to highlight the regular auctions. After recently asking around about the reasons for the “tightening” of the supply of Dinar in the U.S… one of the main reasons I got was the fewer and fewer auctions. Wait – what?!? They are still having fairly robust auctions.

So, obviously, that’s not true… so what is it?

Another possibility is this MASSIVE financial embargo on Kurdistan, provided this was where currency was coming from.

I have also heard of a couple of major players talking about having money in – or being able to get money out of Kurdistan… all baloney. Kurdistan has been under very tight controls since snubbing the world diplomats with this sham vote pushed by Barzani.

Why was it a sham vote? Simple fact: you can’t just take what isn’t yours to take just because you vote on it.

Back to my previous rebuttal – anyone who actually had money in Kurdistan would have either gotten it out or is REALLY “up a creek”… likely just more B.S.

So…

1) Fewer auctions?

2) Tightening borders (fewer exports)?

3) More demand? I sincerely doubt it.

4) IMHO and most likely, the supply here in the U.S. from disgruntled sellers, which is likely where the bulk of the U.S. supply really comes from, and current interested buyers has finally reached a point of parity where the “supply – demand” scales are more evenly balanced.

Hence, the price goes up.

______________________________________________________________

Iraq receives nearly $ 11 billion from Arab and foreign countries for reconstruction

Baghdad Mawazine News – Iraq received nearly 11 billion dollars from Arab and foreign countries during the Kuwait International Conference for the Reconstruction of Iraq.

Saudi Arabia’s foreign minister, Adel al-Jubeir, said that “the kingdom has allocated $ 1.5 billion for reconstruction projects in Iraq and the financing of Saudi exports to it.”

While the Turkish Foreign Minister Mouloud Javishoglu, during the conference, to provide five billion dollars to support the reconstruction of Iraq.

Iraq also received $ 100 million as a contribution from Australia to reconstruction, while Britain pledged up to $ 1 billion a year to Iraq in the form of export credit over 10 years.

Finland has donated $ 10 million to carry out humanitarian projects in Iraq and has pledged to train Iraqi forces.

While Qatar allocated one billion dollars in the form of loans and investments and export facilities for its products in Iraq.

BGG ~ I keep hearing the complaints about Iraq getting all kinds of “welfare” as though they are living on these “pending grants” and IMF loans (instead of revaluing their currency).

I would be careful in assuming this is the situation or that any of this is any kind of “hold-up” to economic and monetary reform. I doubt so very much.

Everyone (as in – the investors and countries) wants to get close, be in on the beginning, but not so much so that they are just giving “hand-outs” with nothing in return. Iraq has to do their part. I get a little bit of the sense Iraq is kind of getting the cart before the horse with this latest conference.

It has long been speculated (and openly reported by Iraqi economists) Iraq would be hit with a “wall” of investment capitol when they truly started economic, monetary and governance reforms. However, it does not appear to me we are quite to this point yet. Everyone wants in – Iraq just don’t have the temperature quite right yet.

Keep in mind… these are “allocations”, “pledges” and “financing” and “projected exports” for projects. Basically these are all “feel good, sweet nothings” at a conference.

Next Monday we’ll see what’s what. Thus far they are well short of the 100 billion in give-aways (and grants) they were asking for.

On the other hand – why should they be given anything (for free)? If they would just pass corruption law(s) currently caught up in their Parliament’s legislative log-jam and then enforce them, their state treasury will swell by an estimated 500 billion (as they have plainly reported).

No need for anything from anyone.

Further, it is my opinion, Iraq should be held to account for (that means – PAY FOR) the military and humanitarian aid tab they’ve run up over the last few years.

______________________________________________________________

Iraq is ready to reform the financial and economic sectors

Economy News Baghdad: UN Secretary-General Antonio Guterich said Iraq was ready to reform the financial and economic sectors.

“The United Nations launches a grant program that helps repair infrastructure, improves daily life and helps improve economic reforms and revitalize areas that have been damaged,” he said.

(Special Thanks to Loopster for sharing)
______________________________________________________________

World Bank: Iraq is the best place to invest in the world

Read More: http://www.dinarupdates.com/showthread.php?56255-World-Bank-Iraq-is-the-best-place-to-invest-in-the-world
______________________________________________________________

The @IraqiGovt is implementing reforms

Follow us on twitter @DinarUpdates !!

______________________________________________________________

____________________________________________________________

Sources: away from the Kurds National Alliance and the Union of forces agree to pass the budget

Image result for picture of Kurdish National Alliance

Read more: http://www.dinarupdates.com/blog/
____________________________________________________________

Former minister: $ 500 billion will return to the state by applying the law “Where do you get this”

The House of Representatives on Saturday, during the session of the House of Representatives first reading of the proposed law on graft “Where you get this.”

“Former Minister of Water Resources Mohsen al-Shammari, it is likely to recover 500 billion dollars to the state treasury if the law applies” Where do you get this? “…

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

BGG ~ 500 Billion USD is an awful lot of money… especially when you consider Iraq is only asking for 100 Billion for their COMPLETE rebuilding process.

This is the size and scope of their corruption problem. This bill will be a problem. Everyone voting on it is crooked. Kinda’ like trying to get term limits passed here.

____________________________________________________________

Masoum stresses Iraq's urgent need for a solid and open economy

Masoum stresses Iraq’s urgent need for a solid and open economy

{Baghdad: Al-Furat News} President Fuad Masum, stressed the urgent need of Iraq to build a solid economy.

Read More: http://www.dinarupdates.com/blog/
____________________________________________________________

Special for change .. Abadi of parliament: the international community will not help Iraq if the budget is not approved

Quoting the channel of change .. Abadi of parliament: the international community will not help Iraq if the budget is not approved

Altahreernews.com

BGG ~ Oh wow. We’ll this pretty much spells it out. However, keep in mind – this is likely Abadi talking TO his Parliament, urging them to adopt their budget.

When I initially started down this line of reasoning, I had no idea international sentiment was as tough as it appears to be. WOW!!

The UN, IMF and WB all appear to want to support Iraq in the worst way – but it also very much appears there are results that are yet required.

P.S. This might also explain this very direct, “hands on” push by Abadi to get the budget done.

We wait and watch.

____________________________________________________________

Al-Alusi: Donor countries will not pay one dirham to a corrupt government

Special Mawazine News – Parliamentarian Mithal al-Alusi said on Tuesday that donor countries would not pay one dirham to a government accused of corruption.

“The donor countries can not be assured of their support at the donor conference to be held in Kuwait next month,” Alusi told Mawazine News.

“Those countries will not give Iraq a single dirham, because the government and the conservatives are accused of corruption,” he said.

“The states have informed the Iraqi government and politicians (we will not give you money because you are not trustworthy),” Alusi said.

The government has earlier announced efforts to coordinate with the Kuwaiti government to invite more than 70 countries to the donors conference scheduled to be held in Kuwait in February.

Source

Paul Moseley – “BGG YOU HIT THE NAIL ON THE HEAD”!!

BGG ~ Another accurate portrayal in the news. That is all. Thank you though 🙂

I have been talking the last however long about what Abadi needs to do along the lines of a real fight against corruption and why. Then I came out and did a fairly long dissertation on the matter. Some people didn’t like what I had to say… I only call it the way I see it.

Then this came out today…

…”Those countries will not give Iraq a single dirham, because the government and the conservatives are accused of corruption,” he said…

This might explain the less-than-luke-warm response Abadi got while at Davos.

____________________________________________________________

Abadi’s war against corruption must begin with Maliki and his henchmen

Corruption in Iraq has caused severe poverty in Iraq, which led to civil and sectarian strife that caused the extreme damages to the country’s infrastructure.

Shia parties lead corruption…

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

______________________________________________________________

Post RV Checklist (it’s getting to be that time!! Listen up!!)

Dos and Don’ts of Windfall Wealth:

Treat it like a PowerBall win

– Tell no one, not even family. If you must talk, do so with one who is already in the know.

– Don’t run out & buy new “stuff”. People notice.

– Get an unpublished number and give it out very sparingly.

– Get a tax accountant you can trust to make sure the IRS is satisfied (Certified Opinion is something to look into) and pursue asset protection…

If you found this blog, our website or chats helpful – Forward it to a friend!! We couldn’t do it without you!! Thanks – BGG!!

www.DinarUpdates.com

DINAR OBSERVER DAILY – Feb. 23rd

Posted on February 23, 2018 by The Dinar Observer

“It’s Not the Donations, Stupid”: Key Points from Kuwait Conference

With a few exceptions, the coverage of the “Kuwait International Conference for the Reconstruction of Iraq” has been confusing at best, ranging from those who thought it was a failure for raising far less than needed to those who thought that that it was a reasonable success for raising a third of what was needed.

These thoughts were not helped by an Iraqi delegation that was focused on presenting a shopping list of projects that would need $88bn in financing. In the end, it was reported that Iraq received pledges of $30bn in loans and guarantees, just over a third of the required total…

Read Full Text: http://www.dinarupdates.com/blog/
______________________________________________________________

MilitiaMan (Dinar Guru) – Article: “Do you mean al-Maliki … Abadi: secret agreements surround the issue of increasing the proportion of the Kurdistan region of the budget” Looks like Abadi is calling a spade a spade. Maliki, might be careful and be more distant and quiet now, as Abadi has been vocal on the matter of wealth being distributed fairly and proportionately to the province’s population ( I read HCL.). …Abadi is clearly pointing out that there are secret deals that can’t be adhered to. …Those in Parliament would be wise to not push the HCL card much further…the 2018 Budget should have been done and agreed on already. Lets see what happens from here, as in, haven’t we heard a rate precedes the budget? [post 1 of 2….stay tuned]
______________________________________________________________

Central_Bank_of_Iraq_Logo

Central Bank of Iraq Auctions $194,883,291 on 22 February 2018

The latest auction was attended by 45 banks and 9 remittance companies. The same institutions attended the auction held on February 22 compared to the previous auction.

Data for the February 22 auction was made public by CBI Announcement Number 3641.

Read More: http://www.dinarupdates.com/forumdisplay.php?5-Current-Iraq-NEWS
______________________________________________________________

[Based on Kaperoni’s 8 dinar commission rule some feel the percentage difference between the official rate and market rate needs to be 1214 to meet the IMF 2% stipulation. However, no one seems to be clear on how to calculate the number – opinions range from 1203 to 1214]

______________________________________________________________

URGENT The dollar is blowing in Iraq

Foreign exchange markets in Baghdad, on Wednesday morning, a significant decline in the exchange rate of the dollar against the Iraqi dinar.

The market price in the Kifah Exchange in Baghdad was 1220 dinars per dollar, or 122 thousand dinars for one hundred dollars.

The prices of selling and buying dollars in banking companies were:

The selling price of one dollar 1225 dinars, or 122 thousand and 500 dinars, for one hundred dollars.

And the purchase price of the dollar is 1215 dinars, or 121 thousand and 500 dinars, for one hundred dollars.

Foreign Exchange Rates:

EUR World Price: 100 Euro = 123.23

GBP The World Price: 100 Bounds = 139.85 $ The

Turkish Lira The International Price: $ 100 = 379.15 Turkish Lira.

Article Credit: http://www.alliraqnews.com (Special Thanks to Tim Tarkington)

BGG ~ Listen folks, this is good news. The Dinar is getting stronger. It is harder to get (over here), the price is going up and the exchange rate is better over there (for us). None of this is bad. It is all good.

______________________________________________________________

Erbil-Baghdad Agreement Imminent

ERBIL — The Kurdistan Region and Iraqi governments are close to reach an agreement over their disputes in the nearest future, said a source close to Iraqi Prime Minister Haider al-Abadi.

The high-level delegations from Erbil and Baghdad are due to resolve the differences over Kurdistan Region’s airports, customs and border lines, the source told Shafaq News.

He further revealed that the Kurdistan Regional Government has already agreed with most of the points in the political deal, the rest would remain under discussion.

Iraqi Prime Minister Haider al-Abadi said earlier the day that Erbil and Sulaymaniyah airports would soon be re-opened after over four months since Baghdad imposed a flight ban on the Kurdish region.

Article Credit: basnews.com (Special Thanks to Tim Tarkington)
______________________________________________________________

sandyf (Dinar Guru) – …it is almost odds on certainty that the IQD will never float.

______________________________________________________________

The date of voting on the budget of 2018

Baghdad News – A member of the Finance Committee of Parliament Mahasen Hamdoun, said Monday that next Tuesday is the date of voting on the budget in 2018.

Hamadoun said in a press statement that ‘the Finance Committee continues its meetings to discuss the budget and will not clear things, only on the day of voting on it’.

“The vote on the budget will be next Tuesday,” she said, stressing that ‘deductions of salaries of employees stopped in the budget’.

Read More: http://www.dinarupdates.com/showthread.php?56313-Disclosure-of-the-date-of-voting-on-the-budget-of-2018
______________________________________________________________

______________________________________________________________

Iraq prime minister promises corruption crackdown, says laws will protect nervous foreign investors

Read Full Text with Commentary: http://www.dinarupdates.com/blog/
______________________________________________________________

______________________________________________________________

Float the Iraqi dinar and stop the auction currency is the only solution of the Iraqi economy.

Read Full Text with Commentary: http://www.dinarupdates.com/blog/
______________________________________________________________

COMMITTEE OF ACCOUNTABILITY: ANNOUNCE THE NAMES OF 5,000 PEOPLE INCLUDED IN THE SEIZURE OF FUNDS THIS WEEK

Al-Suhail, who is covered by the decision to hold the money, estimated about 5,000 persons, while the names of tens of thousands will be issued and they can be disposed of afterwards.

(Special thanks to Vernell)

BGG ~ Funny how that works… about one day after they realize the world isn’t going to “give them” anymore money, they go back and think about getting it back from the crooked politicians who’ve been stealing from the GOI and the people of Iraq.

According to recent estimates, they could collect as much as 500 BILLION (USD) back to the state treasury by enacting and enforcing simple legislation they’ve had in the works for some time now.

P.S. as reported in major OP ED’s in Baghdad recently, Maliki and his henchmen had better wind up on this list…

It is critical to Iraq’s long term success to get a handle on the endemic corruption.

______________________________________________________________

Central Bank of Iraq Auctions $198,173,094 on 15 February 2018

The latest auction was attended by 45 banks and 9 remittance companies. The same institutions attended the auction held on February 15 compared to the previous auction.

Data for the February 15 auction was made public by CBI Announcement Number 3636.

BGG ~ I will continue to highlight the regular auctions. After recently asking around about the reasons for the “tightening” of the supply of Dinar in the U.S… one of the main reasons I got was the fewer and fewer auctions. Wait – what?!? They are still having fairly robust auctions.

So, obviously, that’s not true… so what is it?

Another possibility is this MASSIVE financial embargo on Kurdistan, provided this was where currency was coming from.

I have also heard of a couple of major players talking about having money in – or being able to get money out of Kurdistan… all baloney. Kurdistan has been under very tight controls since snubbing the world diplomats with this sham vote pushed by Barzani.

Why was it a sham vote? Simple fact: you can’t just take what isn’t yours to take just because you vote on it.

Back to my previous rebuttal – anyone who actually had money in Kurdistan would have either gotten it out or is REALLY “up a creek”… likely just more B.S.

So…

1) Fewer auctions?

2) Tightening borders (fewer exports)?

3) More demand? I sincerely doubt it.

4) IMHO and most likely, the supply here in the U.S. from disgruntled sellers, which is likely where the bulk of the U.S. supply really comes from, and current interested buyers has finally reached a point of parity where the “supply – demand” scales are more evenly balanced.

Hence, the price goes up.

______________________________________________________________

Iraq receives nearly $ 11 billion from Arab and foreign countries for reconstruction

Baghdad Mawazine News – Iraq received nearly 11 billion dollars from Arab and foreign countries during the Kuwait International Conference for the Reconstruction of Iraq.

Saudi Arabia’s foreign minister, Adel al-Jubeir, said that “the kingdom has allocated $ 1.5 billion for reconstruction projects in Iraq and the financing of Saudi exports to it.”

While the Turkish Foreign Minister Mouloud Javishoglu, during the conference, to provide five billion dollars to support the reconstruction of Iraq.

Iraq also received $ 100 million as a contribution from Australia to reconstruction, while Britain pledged up to $ 1 billion a year to Iraq in the form of export credit over 10 years.

Finland has donated $ 10 million to carry out humanitarian projects in Iraq and has pledged to train Iraqi forces.

While Qatar allocated one billion dollars in the form of loans and investments and export facilities for its products in Iraq.

BGG ~ I keep hearing the complaints about Iraq getting all kinds of “welfare” as though they are living on these “pending grants” and IMF loans (instead of revaluing their currency).

I would be careful in assuming this is the situation or that any of this is any kind of “hold-up” to economic and monetary reform. I doubt so very much.

Everyone (as in – the investors and countries) wants to get close, be in on the beginning, but not so much so that they are just giving “hand-outs” with nothing in return. Iraq has to do their part. I get a little bit of the sense Iraq is kind of getting the cart before the horse with this latest conference.

It has long been speculated (and openly reported by Iraqi economists) Iraq would be hit with a “wall” of investment capitol when they truly started economic, monetary and governance reforms. However, it does not appear to me we are quite to this point yet. Everyone wants in – Iraq just don’t have the temperature quite right yet.

Keep in mind… these are “allocations”, “pledges” and “financing” and “projected exports” for projects. Basically these are all “feel good, sweet nothings” at a conference.

Next Monday we’ll see what’s what. Thus far they are well short of the 100 billion in give-aways (and grants) they were asking for.

On the other hand – why should they be given anything (for free)? If they would just pass corruption law(s) currently caught up in their Parliament’s legislative log-jam and then enforce them, their state treasury will swell by an estimated 500 billion (as they have plainly reported).

No need for anything from anyone.

Further, it is my opinion, Iraq should be held to account for (that means – PAY FOR) the military and humanitarian aid tab they’ve run up over the last few years.

______________________________________________________________

Iraq is ready to reform the financial and economic sectors

Economy News Baghdad: UN Secretary-General Antonio Guterich said Iraq was ready to reform the financial and economic sectors.

“The United Nations launches a grant program that helps repair infrastructure, improves daily life and helps improve economic reforms and revitalize areas that have been damaged,” he said.

(Special Thanks to Loopster for sharing)
______________________________________________________________

World Bank: Iraq is the best place to invest in the world

Read More: http://www.dinarupdates.com/showthread.php?56255-World-Bank-Iraq-is-the-best-place-to-invest-in-the-world
______________________________________________________________

The @IraqiGovt is implementing reforms

Follow us on twitter @DinarUpdates !!

______________________________________________________________

____________________________________________________________

Sources: away from the Kurds National Alliance and the Union of forces agree to pass the budget

Image result for picture of Kurdish National Alliance

Read more: http://www.dinarupdates.com/blog/
____________________________________________________________

Former minister: $ 500 billion will return to the state by applying the law “Where do you get this”

The House of Representatives on Saturday, during the session of the House of Representatives first reading of the proposed law on graft “Where you get this.”

“Former Minister of Water Resources Mohsen al-Shammari, it is likely to recover 500 billion dollars to the state treasury if the law applies” Where do you get this? “…

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

BGG ~ 500 Billion USD is an awful lot of money… especially when you consider Iraq is only asking for 100 Billion for their COMPLETE rebuilding process.

This is the size and scope of their corruption problem. This bill will be a problem. Everyone voting on it is crooked. Kinda’ like trying to get term limits passed here.

____________________________________________________________

Masoum stresses Iraq's urgent need for a solid and open economy

Masoum stresses Iraq’s urgent need for a solid and open economy

{Baghdad: Al-Furat News} President Fuad Masum, stressed the urgent need of Iraq to build a solid economy.

Read More: http://www.dinarupdates.com/blog/
____________________________________________________________

Special for change .. Abadi of parliament: the international community will not help Iraq if the budget is not approved

Quoting the channel of change .. Abadi of parliament: the international community will not help Iraq if the budget is not approved

Altahreernews.com

BGG ~ Oh wow. We’ll this pretty much spells it out. However, keep in mind – this is likely Abadi talking TO his Parliament, urging them to adopt their budget.

When I initially started down this line of reasoning, I had no idea international sentiment was as tough as it appears to be. WOW!!

The UN, IMF and WB all appear to want to support Iraq in the worst way – but it also very much appears there are results that are yet required.

P.S. This might also explain this very direct, “hands on” push by Abadi to get the budget done.

We wait and watch.

____________________________________________________________

Al-Alusi: Donor countries will not pay one dirham to a corrupt government

Special Mawazine News – Parliamentarian Mithal al-Alusi said on Tuesday that donor countries would not pay one dirham to a government accused of corruption.

“The donor countries can not be assured of their support at the donor conference to be held in Kuwait next month,” Alusi told Mawazine News.

“Those countries will not give Iraq a single dirham, because the government and the conservatives are accused of corruption,” he said.

“The states have informed the Iraqi government and politicians (we will not give you money because you are not trustworthy),” Alusi said.

The government has earlier announced efforts to coordinate with the Kuwaiti government to invite more than 70 countries to the donors conference scheduled to be held in Kuwait in February.

Source

Paul Moseley – “BGG YOU HIT THE NAIL ON THE HEAD”!!

BGG ~ Another accurate portrayal in the news. That is all. Thank you though 🙂

I have been talking the last however long about what Abadi needs to do along the lines of a real fight against corruption and why. Then I came out and did a fairly long dissertation on the matter. Some people didn’t like what I had to say… I only call it the way I see it.

Then this came out today…

…”Those countries will not give Iraq a single dirham, because the government and the conservatives are accused of corruption,” he said…

This might explain the less-than-luke-warm response Abadi got while at Davos.

____________________________________________________________

Abadi’s war against corruption must begin with Maliki and his henchmen

Corruption in Iraq has caused severe poverty in Iraq, which led to civil and sectarian strife that caused the extreme damages to the country’s infrastructure.

Shia parties lead corruption…

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

______________________________________________________________

Post RV Checklist (it’s getting to be that time!! Listen up!!)

Dos and Don’ts of Windfall Wealth:

Treat it like a PowerBall win

– Tell no one, not even family. If you must talk, do so with one who is already in the know.

– Don’t run out & buy new “stuff”. People notice.

– Get an unpublished number and give it out very sparingly.

– Get a tax accountant you can trust to make sure the IRS is satisfied (Certified Opinion is something to look into) and pursue asset protection…

If you found this blog, our website or chats helpful – Forward it to a friend!! We couldn’t do it without you!! Thanks – BGG!!

www.DinarUpdates.com

DINAR OBSERVER DAILY – Feb. 22nd

Posted on February 22, 2018 by The Dinar Observer

Central_Bank_of_Iraq_Logo

Central Bank of Iraq Auctions $194,883,291 on 22 February 2018

The latest auction was attended by 45 banks and 9 remittance companies. The same institutions attended the auction held on February 22 compared to the previous auction.

Data for the February 22 auction was made public by CBI Announcement Number 3641.

Read More: http://www.dinarupdates.com/forumdisplay.php?5-Current-Iraq-NEWS
______________________________________________________________

[Based on Kaperoni’s 8 dinar commission rule some feel the percentage difference between the official rate and market rate needs to be 1214 to meet the IMF 2% stipulation. However, no one seems to be clear on how to calculate the number – opinions range from 1203 to 1214]

______________________________________________________________

URGENT The dollar is blowing in Iraq

Foreign exchange markets in Baghdad, on Wednesday morning, a significant decline in the exchange rate of the dollar against the Iraqi dinar.

The market price in the Kifah Exchange in Baghdad was 1220 dinars per dollar, or 122 thousand dinars for one hundred dollars.

The prices of selling and buying dollars in banking companies were:

The selling price of one dollar 1225 dinars, or 122 thousand and 500 dinars, for one hundred dollars.

And the purchase price of the dollar is 1215 dinars, or 121 thousand and 500 dinars, for one hundred dollars.

Foreign Exchange Rates:

EUR World Price: 100 Euro = 123.23

GBP The World Price: 100 Bounds = 139.85 $ The

Turkish Lira The International Price: $ 100 = 379.15 Turkish Lira.

Article Credit: http://www.alliraqnews.com (Special Thanks to Tim Tarkington)

BGG ~ Listen folks, this is good news. The Dinar is getting stronger. It is harder to get (over here), the price is going up and the exchange rate is better over there (for us). None of this is bad. It is all good.

______________________________________________________________

Erbil-Baghdad Agreement Imminent

ERBIL — The Kurdistan Region and Iraqi governments are close to reach an agreement over their disputes in the nearest future, said a source close to Iraqi Prime Minister Haider al-Abadi.

The high-level delegations from Erbil and Baghdad are due to resolve the differences over Kurdistan Region’s airports, customs and border lines, the source told Shafaq News.

He further revealed that the Kurdistan Regional Government has already agreed with most of the points in the political deal, the rest would remain under discussion.

Iraqi Prime Minister Haider al-Abadi said earlier the day that Erbil and Sulaymaniyah airports would soon be re-opened after over four months since Baghdad imposed a flight ban on the Kurdish region.

Article Credit: basnews.com (Special Thanks to Tim Tarkington)
______________________________________________________________

sandyf (Dinar Guru) – …it is almost odds on certainty that the IQD will never float.

______________________________________________________________

The date of voting on the budget of 2018

Baghdad News – A member of the Finance Committee of Parliament Mahasen Hamdoun, said Monday that next Tuesday is the date of voting on the budget in 2018.

Hamadoun said in a press statement that ‘the Finance Committee continues its meetings to discuss the budget and will not clear things, only on the day of voting on it’.

“The vote on the budget will be next Tuesday,” she said, stressing that ‘deductions of salaries of employees stopped in the budget’.

Read More: http://www.dinarupdates.com/showthread.php?56313-Disclosure-of-the-date-of-voting-on-the-budget-of-2018
______________________________________________________________

______________________________________________________________

Iraq prime minister promises corruption crackdown, says laws will protect nervous foreign investors

Read Full Text with Commentary: http://www.dinarupdates.com/blog/
______________________________________________________________

______________________________________________________________

Float the Iraqi dinar and stop the auction currency is the only solution of the Iraqi economy.

Read Full Text with Commentary: http://www.dinarupdates.com/blog/
______________________________________________________________

COMMITTEE OF ACCOUNTABILITY: ANNOUNCE THE NAMES OF 5,000 PEOPLE INCLUDED IN THE SEIZURE OF FUNDS THIS WEEK

Al-Suhail, who is covered by the decision to hold the money, estimated about 5,000 persons, while the names of tens of thousands will be issued and they can be disposed of afterwards.

(Special thanks to Vernell)

BGG ~ Funny how that works… about one day after they realize the world isn’t going to “give them” anymore money, they go back and think about getting it back from the crooked politicians who’ve been stealing from the GOI and the people of Iraq.

According to recent estimates, they could collect as much as 500 BILLION (USD) back to the state treasury by enacting and enforcing simple legislation they’ve had in the works for some time now.

P.S. as reported in major OP ED’s in Baghdad recently, Maliki and his henchmen had better wind up on this list…

It is critical to Iraq’s long term success to get a handle on the endemic corruption.

______________________________________________________________

Central Bank of Iraq Auctions $198,173,094 on 15 February 2018

The latest auction was attended by 45 banks and 9 remittance companies. The same institutions attended the auction held on February 15 compared to the previous auction.

Data for the February 15 auction was made public by CBI Announcement Number 3636.

BGG ~ I will continue to highlight the regular auctions. After recently asking around about the reasons for the “tightening” of the supply of Dinar in the U.S… one of the main reasons I got was the fewer and fewer auctions. Wait – what?!? They are still having fairly robust auctions.

So, obviously, that’s not true… so what is it?

Another possibility is this MASSIVE financial embargo on Kurdistan, provided this was where currency was coming from.

I have also heard of a couple of major players talking about having money in – or being able to get money out of Kurdistan… all baloney. Kurdistan has been under very tight controls since snubbing the world diplomats with this sham vote pushed by Barzani.

Why was it a sham vote? Simple fact: you can’t just take what isn’t yours to take just because you vote on it.

Back to my previous rebuttal – anyone who actually had money in Kurdistan would have either gotten it out or is REALLY “up a creek”… likely just more B.S.

So…

1) Fewer auctions?

2) Tightening borders (fewer exports)?

3) More demand? I sincerely doubt it.

4) IMHO and most likely, the supply here in the U.S. from disgruntled sellers, which is likely where the bulk of the U.S. supply really comes from, and current interested buyers has finally reached a point of parity where the “supply – demand” scales are more evenly balanced.

Hence, the price goes up.

______________________________________________________________

Iraq receives nearly $ 11 billion from Arab and foreign countries for reconstruction

Baghdad Mawazine News – Iraq received nearly 11 billion dollars from Arab and foreign countries during the Kuwait International Conference for the Reconstruction of Iraq.

Saudi Arabia’s foreign minister, Adel al-Jubeir, said that “the kingdom has allocated $ 1.5 billion for reconstruction projects in Iraq and the financing of Saudi exports to it.”

While the Turkish Foreign Minister Mouloud Javishoglu, during the conference, to provide five billion dollars to support the reconstruction of Iraq.

Iraq also received $ 100 million as a contribution from Australia to reconstruction, while Britain pledged up to $ 1 billion a year to Iraq in the form of export credit over 10 years.

Finland has donated $ 10 million to carry out humanitarian projects in Iraq and has pledged to train Iraqi forces.

While Qatar allocated one billion dollars in the form of loans and investments and export facilities for its products in Iraq.

BGG ~ I keep hearing the complaints about Iraq getting all kinds of “welfare” as though they are living on these “pending grants” and IMF loans (instead of revaluing their currency).

I would be careful in assuming this is the situation or that any of this is any kind of “hold-up” to economic and monetary reform. I doubt so very much.

Everyone (as in – the investors and countries) wants to get close, be in on the beginning, but not so much so that they are just giving “hand-outs” with nothing in return. Iraq has to do their part. I get a little bit of the sense Iraq is kind of getting the cart before the horse with this latest conference.

It has long been speculated (and openly reported by Iraqi economists) Iraq would be hit with a “wall” of investment capitol when they truly started economic, monetary and governance reforms. However, it does not appear to me we are quite to this point yet. Everyone wants in – Iraq just don’t have the temperature quite right yet.

Keep in mind… these are “allocations”, “pledges” and “financing” and “projected exports” for projects. Basically these are all “feel good, sweet nothings” at a conference.

Next Monday we’ll see what’s what. Thus far they are well short of the 100 billion in give-aways (and grants) they were asking for.

On the other hand – why should they be given anything (for free)? If they would just pass corruption law(s) currently caught up in their Parliament’s legislative log-jam and then enforce them, their state treasury will swell by an estimated 500 billion (as they have plainly reported).

No need for anything from anyone.

Further, it is my opinion, Iraq should be held to account for (that means – PAY FOR) the military and humanitarian aid tab they’ve run up over the last few years.

______________________________________________________________

Iraq is ready to reform the financial and economic sectors

Economy News Baghdad: UN Secretary-General Antonio Guterich said Iraq was ready to reform the financial and economic sectors.

“The United Nations launches a grant program that helps repair infrastructure, improves daily life and helps improve economic reforms and revitalize areas that have been damaged,” he said.

(Special Thanks to Loopster for sharing)
______________________________________________________________

World Bank: Iraq is the best place to invest in the world

Read More: http://www.dinarupdates.com/showthread.php?56255-World-Bank-Iraq-is-the-best-place-to-invest-in-the-world
______________________________________________________________

The @IraqiGovt is implementing reforms

Follow us on twitter @DinarUpdates !!

______________________________________________________________

____________________________________________________________

Sources: away from the Kurds National Alliance and the Union of forces agree to pass the budget

Image result for picture of Kurdish National Alliance

Read more: http://www.dinarupdates.com/blog/
____________________________________________________________

Former minister: $ 500 billion will return to the state by applying the law “Where do you get this”

The House of Representatives on Saturday, during the session of the House of Representatives first reading of the proposed law on graft “Where you get this.”

“Former Minister of Water Resources Mohsen al-Shammari, it is likely to recover 500 billion dollars to the state treasury if the law applies” Where do you get this? “…

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

BGG ~ 500 Billion USD is an awful lot of money… especially when you consider Iraq is only asking for 100 Billion for their COMPLETE rebuilding process.

This is the size and scope of their corruption problem. This bill will be a problem. Everyone voting on it is crooked. Kinda’ like trying to get term limits passed here.

____________________________________________________________

Masoum stresses Iraq's urgent need for a solid and open economy

Masoum stresses Iraq’s urgent need for a solid and open economy

{Baghdad: Al-Furat News} President Fuad Masum, stressed the urgent need of Iraq to build a solid economy.

Read More: http://www.dinarupdates.com/blog/
____________________________________________________________

Special for change .. Abadi of parliament: the international community will not help Iraq if the budget is not approved

Quoting the channel of change .. Abadi of parliament: the international community will not help Iraq if the budget is not approved

Altahreernews.com

BGG ~ Oh wow. We’ll this pretty much spells it out. However, keep in mind – this is likely Abadi talking TO his Parliament, urging them to adopt their budget.

When I initially started down this line of reasoning, I had no idea international sentiment was as tough as it appears to be. WOW!!

The UN, IMF and WB all appear to want to support Iraq in the worst way – but it also very much appears there are results that are yet required.

P.S. This might also explain this very direct, “hands on” push by Abadi to get the budget done.

We wait and watch.

____________________________________________________________

Al-Alusi: Donor countries will not pay one dirham to a corrupt government

Special Mawazine News – Parliamentarian Mithal al-Alusi said on Tuesday that donor countries would not pay one dirham to a government accused of corruption.

“The donor countries can not be assured of their support at the donor conference to be held in Kuwait next month,” Alusi told Mawazine News.

“Those countries will not give Iraq a single dirham, because the government and the conservatives are accused of corruption,” he said.

“The states have informed the Iraqi government and politicians (we will not give you money because you are not trustworthy),” Alusi said.

The government has earlier announced efforts to coordinate with the Kuwaiti government to invite more than 70 countries to the donors conference scheduled to be held in Kuwait in February.

Source

Paul Moseley – “BGG YOU HIT THE NAIL ON THE HEAD”!!

BGG ~ Another accurate portrayal in the news. That is all. Thank you though 🙂

I have been talking the last however long about what Abadi needs to do along the lines of a real fight against corruption and why. Then I came out and did a fairly long dissertation on the matter. Some people didn’t like what I had to say… I only call it the way I see it.

Then this came out today…

…”Those countries will not give Iraq a single dirham, because the government and the conservatives are accused of corruption,” he said…

This might explain the less-than-luke-warm response Abadi got while at Davos.

____________________________________________________________

Abadi’s war against corruption must begin with Maliki and his henchmen

Corruption in Iraq has caused severe poverty in Iraq, which led to civil and sectarian strife that caused the extreme damages to the country’s infrastructure.

Shia parties lead corruption…

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

______________________________________________________________

Post RV Checklist (it’s getting to be that time!! Listen up!!)

Dos and Don’ts of Windfall Wealth:

Treat it like a PowerBall win

– Tell no one, not even family. If you must talk, do so with one who is already in the know.

– Don’t run out & buy new “stuff”. People notice.

– Get an unpublished number and give it out very sparingly.

– Get a tax accountant you can trust to make sure the IRS is satisfied (Certified Opinion is something to look into) and pursue asset protection…

If you found this blog, our website or chats helpful – Forward it to a friend!! We couldn’t do it without you!! Thanks – BGG!!

www.DinarUpdates.com

DINAR OBSERVER DAILY – Feb. 21st

Posted on February 20, 2018 by The Dinar Observer

URGENT The dollar is blowing in Iraq

Foreign exchange markets in Baghdad, on Wednesday morning, a significant decline in the exchange rate of the dollar against the Iraqi dinar.

The market price in the Kifah Exchange in Baghdad was 1220 dinars per dollar, or 122 thousand dinars for one hundred dollars.

The prices of selling and buying dollars in banking companies were:

The selling price of one dollar 1225 dinars, or 122 thousand and 500 dinars, for one hundred dollars.

And the purchase price of the dollar is 1215 dinars, or 121 thousand and 500 dinars, for one hundred dollars.

Foreign Exchange Rates:

EUR World Price: 100 Euro = 123.23

GBP The World Price: 100 Bounds = 139.85 $ The

Turkish Lira The International Price: $ 100 = 379.15 Turkish Lira.

Article Credit: http://www.alliraqnews.com (Special Thanks to Tim Tarkington)

BGG ~ Listen folks, this is good news. The Dinar is getting stronger. It is harder to get (over here), the price is going up and the exchange rate is better over there (for us). None of this is bad. It is all good.

______________________________________________________________

Erbil-Baghdad Agreement Imminent

ERBIL — The Kurdistan Region and Iraqi governments are close to reach an agreement over their disputes in the nearest future, said a source close to Iraqi Prime Minister Haider al-Abadi.

The high-level delegations from Erbil and Baghdad are due to resolve the differences over Kurdistan Region’s airports, customs and border lines, the source told Shafaq News.

He further revealed that the Kurdistan Regional Government has already agreed with most of the points in the political deal, the rest would remain under discussion.

Iraqi Prime Minister Haider al-Abadi said earlier the day that Erbil and Sulaymaniyah airports would soon be re-opened after over four months since Baghdad imposed a flight ban on the Kurdish region.

Article Credit: basnews.com (Special Thanks to Tim Tarkington)
______________________________________________________________

Adam Montana (Dinar Guru) – Dinar is getting interesting again, isn’t it? It’s about time! Major news is pretty simple – no HCL yet, but it’s gaining a lot of outside support in a quick way. Notably, the price of Crude has stabilized to around the same price it was back in early 2014. This is exactly what the recent OPEC agreement was intended to do, and the fact that it’s succeeding is VERY encouraging. Reports that it should get back up into the $80 range are everywhere. The important part here is that oil IS stable, and it IS going up, in a mostly predictable fashion. This is what Iraq needs to really move on the HCL…Also promising is reports that some dealers are showing a shortage of IQD notes for sale. This could be a strong indicator that the available supply is drying up, or it could mean that demand from investors like us is getting lower… Good for us, either way!… [post 1 of 2….]
______________________________________________________________

sandyf (Dinar Guru) – …it is almost odds on certainty that the IQD will never float.

______________________________________________________________

The date of voting on the budget of 2018

Baghdad News – A member of the Finance Committee of Parliament Mahasen Hamdoun, said Monday that next Tuesday is the date of voting on the budget in 2018.

Hamadoun said in a press statement that ‘the Finance Committee continues its meetings to discuss the budget and will not clear things, only on the day of voting on it’.

“The vote on the budget will be next Tuesday,” she said, stressing that ‘deductions of salaries of employees stopped in the budget’.

Read More: http://www.dinarupdates.com/showthread.php?56313-Disclosure-of-the-date-of-voting-on-the-budget-of-2018
______________________________________________________________

______________________________________________________________

Iraq prime minister promises corruption crackdown, says laws will protect nervous foreign investors

Read Full Text with Commentary: http://www.dinarupdates.com/blog/
______________________________________________________________

______________________________________________________________

Float the Iraqi dinar and stop the auction currency is the only solution of the Iraqi economy.

Read Full Text with Commentary: http://www.dinarupdates.com/blog/
______________________________________________________________

COMMITTEE OF ACCOUNTABILITY: ANNOUNCE THE NAMES OF 5,000 PEOPLE INCLUDED IN THE SEIZURE OF FUNDS THIS WEEK

Al-Suhail, who is covered by the decision to hold the money, estimated about 5,000 persons, while the names of tens of thousands will be issued and they can be disposed of afterwards.

(Special thanks to Vernell)

BGG ~ Funny how that works… about one day after they realize the world isn’t going to “give them” anymore money, they go back and think about getting it back from the crooked politicians who’ve been stealing from the GOI and the people of Iraq.

According to recent estimates, they could collect as much as 500 BILLION (USD) back to the state treasury by enacting and enforcing simple legislation they’ve had in the works for some time now.

P.S. as reported in major OP ED’s in Baghdad recently, Maliki and his henchmen had better wind up on this list…

It is critical to Iraq’s long term success to get a handle on the endemic corruption.

______________________________________________________________

Central Bank of Iraq Auctions $198,173,094 on 15 February 2018

The latest auction was attended by 45 banks and 9 remittance companies. The same institutions attended the auction held on February 15 compared to the previous auction.

Data for the February 15 auction was made public by CBI Announcement Number 3636.

BGG ~ I will continue to highlight the regular auctions. After recently asking around about the reasons for the “tightening” of the supply of Dinar in the U.S… one of the main reasons I got was the fewer and fewer auctions. Wait – what?!? They are still having fairly robust auctions.

So, obviously, that’s not true… so what is it?

Another possibility is this MASSIVE financial embargo on Kurdistan, provided this was where currency was coming from.

I have also heard of a couple of major players talking about having money in – or being able to get money out of Kurdistan… all baloney. Kurdistan has been under very tight controls since snubbing the world diplomats with this sham vote pushed by Barzani.

Why was it a sham vote? Simple fact: you can’t just take what isn’t yours to take just because you vote on it.

Back to my previous rebuttal – anyone who actually had money in Kurdistan would have either gotten it out or is REALLY “up a creek”… likely just more B.S.

So…

1) Fewer auctions?

2) Tightening borders (fewer exports)?

3) More demand? I sincerely doubt it.

4) IMHO and most likely, the supply here in the U.S. from disgruntled sellers, which is likely where the bulk of the U.S. supply really comes from, and current interested buyers has finally reached a point of parity where the “supply – demand” scales are more evenly balanced.

Hence, the price goes up.

______________________________________________________________

Iraq receives nearly $ 11 billion from Arab and foreign countries for reconstruction

Baghdad Mawazine News – Iraq received nearly 11 billion dollars from Arab and foreign countries during the Kuwait International Conference for the Reconstruction of Iraq.

Saudi Arabia’s foreign minister, Adel al-Jubeir, said that “the kingdom has allocated $ 1.5 billion for reconstruction projects in Iraq and the financing of Saudi exports to it.”

While the Turkish Foreign Minister Mouloud Javishoglu, during the conference, to provide five billion dollars to support the reconstruction of Iraq.

Iraq also received $ 100 million as a contribution from Australia to reconstruction, while Britain pledged up to $ 1 billion a year to Iraq in the form of export credit over 10 years.

Finland has donated $ 10 million to carry out humanitarian projects in Iraq and has pledged to train Iraqi forces.

While Qatar allocated one billion dollars in the form of loans and investments and export facilities for its products in Iraq.

BGG ~ I keep hearing the complaints about Iraq getting all kinds of “welfare” as though they are living on these “pending grants” and IMF loans (instead of revaluing their currency).

I would be careful in assuming this is the situation or that any of this is any kind of “hold-up” to economic and monetary reform. I doubt so very much.

Everyone (as in – the investors and countries) wants to get close, be in on the beginning, but not so much so that they are just giving “hand-outs” with nothing in return. Iraq has to do their part. I get a little bit of the sense Iraq is kind of getting the cart before the horse with this latest conference.

It has long been speculated (and openly reported by Iraqi economists) Iraq would be hit with a “wall” of investment capitol when they truly started economic, monetary and governance reforms. However, it does not appear to me we are quite to this point yet. Everyone wants in – Iraq just don’t have the temperature quite right yet.

Keep in mind… these are “allocations”, “pledges” and “financing” and “projected exports” for projects. Basically these are all “feel good, sweet nothings” at a conference.

Next Monday we’ll see what’s what. Thus far they are well short of the 100 billion in give-aways (and grants) they were asking for.

On the other hand – why should they be given anything (for free)? If they would just pass corruption law(s) currently caught up in their Parliament’s legislative log-jam and then enforce them, their state treasury will swell by an estimated 500 billion (as they have plainly reported).

No need for anything from anyone.

Further, it is my opinion, Iraq should be held to account for (that means – PAY FOR) the military and humanitarian aid tab they’ve run up over the last few years.

______________________________________________________________

Iraq is ready to reform the financial and economic sectors

Economy News Baghdad: UN Secretary-General Antonio Guterich said Iraq was ready to reform the financial and economic sectors.

“The United Nations launches a grant program that helps repair infrastructure, improves daily life and helps improve economic reforms and revitalize areas that have been damaged,” he said.

(Special Thanks to Loopster for sharing)
______________________________________________________________

World Bank: Iraq is the best place to invest in the world

Read More: http://www.dinarupdates.com/showthread.php?56255-World-Bank-Iraq-is-the-best-place-to-invest-in-the-world
______________________________________________________________

The @IraqiGovt is implementing reforms

Follow us on twitter @DinarUpdates !!

______________________________________________________________

____________________________________________________________

Sources: away from the Kurds National Alliance and the Union of forces agree to pass the budget

Image result for picture of Kurdish National Alliance

Read more: http://www.dinarupdates.com/blog/
____________________________________________________________

Former minister: $ 500 billion will return to the state by applying the law “Where do you get this”

The House of Representatives on Saturday, during the session of the House of Representatives first reading of the proposed law on graft “Where you get this.”

“Former Minister of Water Resources Mohsen al-Shammari, it is likely to recover 500 billion dollars to the state treasury if the law applies” Where do you get this? “…

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

BGG ~ 500 Billion USD is an awful lot of money… especially when you consider Iraq is only asking for 100 Billion for their COMPLETE rebuilding process.

This is the size and scope of their corruption problem. This bill will be a problem. Everyone voting on it is crooked. Kinda’ like trying to get term limits passed here.

____________________________________________________________

Masoum stresses Iraq's urgent need for a solid and open economy

Masoum stresses Iraq’s urgent need for a solid and open economy

{Baghdad: Al-Furat News} President Fuad Masum, stressed the urgent need of Iraq to build a solid economy.

Read More: http://www.dinarupdates.com/blog/
____________________________________________________________

Special for change .. Abadi of parliament: the international community will not help Iraq if the budget is not approved

Quoting the channel of change .. Abadi of parliament: the international community will not help Iraq if the budget is not approved

Altahreernews.com

BGG ~ Oh wow. We’ll this pretty much spells it out. However, keep in mind – this is likely Abadi talking TO his Parliament, urging them to adopt their budget.

When I initially started down this line of reasoning, I had no idea international sentiment was as tough as it appears to be. WOW!!

The UN, IMF and WB all appear to want to support Iraq in the worst way – but it also very much appears there are results that are yet required.

P.S. This might also explain this very direct, “hands on” push by Abadi to get the budget done.

We wait and watch.

____________________________________________________________

Al-Alusi: Donor countries will not pay one dirham to a corrupt government

Special Mawazine News – Parliamentarian Mithal al-Alusi said on Tuesday that donor countries would not pay one dirham to a government accused of corruption.

“The donor countries can not be assured of their support at the donor conference to be held in Kuwait next month,” Alusi told Mawazine News.

“Those countries will not give Iraq a single dirham, because the government and the conservatives are accused of corruption,” he said.

“The states have informed the Iraqi government and politicians (we will not give you money because you are not trustworthy),” Alusi said.

The government has earlier announced efforts to coordinate with the Kuwaiti government to invite more than 70 countries to the donors conference scheduled to be held in Kuwait in February.

Source

Paul Moseley – “BGG YOU HIT THE NAIL ON THE HEAD”!!

BGG ~ Another accurate portrayal in the news. That is all. Thank you though 🙂

I have been talking the last however long about what Abadi needs to do along the lines of a real fight against corruption and why. Then I came out and did a fairly long dissertation on the matter. Some people didn’t like what I had to say… I only call it the way I see it.

Then this came out today…

…”Those countries will not give Iraq a single dirham, because the government and the conservatives are accused of corruption,” he said…

This might explain the less-than-luke-warm response Abadi got while at Davos.

____________________________________________________________

Abadi’s war against corruption must begin with Maliki and his henchmen

Corruption in Iraq has caused severe poverty in Iraq, which led to civil and sectarian strife that caused the extreme damages to the country’s infrastructure.

Shia parties lead corruption…

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

______________________________________________________________

Post RV Checklist (it’s getting to be that time!! Listen up!!)

Dos and Don’ts of Windfall Wealth:

Treat it like a PowerBall win

– Tell no one, not even family. If you must talk, do so with one who is already in the know.

– Don’t run out & buy new “stuff”. People notice.

– Get an unpublished number and give it out very sparingly.

– Get a tax accountant you can trust to make sure the IRS is satisfied (Certified Opinion is something to look into) and pursue asset protection…

If you found this blog, our website or chats helpful – Forward it to a friend!! We couldn’t do it without you!! Thanks – BGG!!

www.DinarUpdates.com

DINAR OBSERVER DAILY – Feb. 19th

Posted on February 19, 2018 by The Dinar Observer

The date of voting on the budget of 2018

Baghdad News – A member of the Finance Committee of Parliament Mahasen Hamdoun, said Monday that next Tuesday is the date of voting on the budget in 2018.

Hamadoun said in a press statement that ‘the Finance Committee continues its meetings to discuss the budget and will not clear things, only on the day of voting on it’.

“The vote on the budget will be next Tuesday,” she said, stressing that ‘deductions of salaries of employees stopped in the budget’.

Read More: http://www.dinarupdates.com/showthread.php?56313-Disclosure-of-the-date-of-voting-on-the-budget-of-2018
______________________________________________________________

BGG (Dinar Guru) – Article: “COMMITTEE OF ACCOUNTABILITY: ANNOUNCE THE NAMES OF 5,000 PEOPLE INCLUDED IN THE SEIZURE OF FUNDS THIS WEEK” Funny how that works…about one day after they realize the world isn’t going to “give them” anymore money, they go back and think about getting it back from the crooked politicians who’ve been stealing from the GOI and the people of Iraq. According to recent estimates, they could collect as much as 500 BILLION (USD) back to the state treasury by enacting and enforcing simple legislation they’ve had in the works for some time now. P.S. as reported in major OP ED’s in Baghdad recently, Maliki and his henchmen had better wind up on this list…It is critical to Iraq’s long term success to get a handle on the endemic corruption.
______________________________________________________________

Iraq prime minister promises corruption crackdown, says laws will protect nervous foreign investors

Read Full Text with Commentary: http://www.dinarupdates.com/blog/
______________________________________________________________

______________________________________________________________

Float the Iraqi dinar and stop the auction currency is the only solution of the Iraqi economy.

Read Full Text with Commentary: http://www.dinarupdates.com/blog/
______________________________________________________________

COMMITTEE OF ACCOUNTABILITY: ANNOUNCE THE NAMES OF 5,000 PEOPLE INCLUDED IN THE SEIZURE OF FUNDS THIS WEEK

Al-Suhail, who is covered by the decision to hold the money, estimated about 5,000 persons, while the names of tens of thousands will be issued and they can be disposed of afterwards.

(Special thanks to Vernell)

BGG ~ Funny how that works… about one day after they realize the world isn’t going to “give them” anymore money, they go back and think about getting it back from the crooked politicians who’ve been stealing from the GOI and the people of Iraq.

According to recent estimates, they could collect as much as 500 BILLION (USD) back to the state treasury by enacting and enforcing simple legislation they’ve had in the works for some time now.

P.S. as reported in major OP ED’s in Baghdad recently, Maliki and his henchmen had better wind up on this list…

It is critical to Iraq’s long term success to get a handle on the endemic corruption.

______________________________________________________________

Central Bank of Iraq Auctions $198,173,094 on 15 February 2018

The latest auction was attended by 45 banks and 9 remittance companies. The same institutions attended the auction held on February 15 compared to the previous auction.

Data for the February 15 auction was made public by CBI Announcement Number 3636.

BGG ~ I will continue to highlight the regular auctions. After recently asking around about the reasons for the “tightening” of the supply of Dinar in the U.S… one of the main reasons I got was the fewer and fewer auctions. Wait – what?!? They are still having fairly robust auctions.

So, obviously, that’s not true… so what is it?

Another possibility is this MASSIVE financial embargo on Kurdistan, provided this was where currency was coming from.

I have also heard of a couple of major players talking about having money in – or being able to get money out of Kurdistan… all baloney. Kurdistan has been under very tight controls since snubbing the world diplomats with this sham vote pushed by Barzani.

Why was it a sham vote? Simple fact: you can’t just take what isn’t yours to take just because you vote on it.

Back to my previous rebuttal – anyone who actually had money in Kurdistan would have either gotten it out or is REALLY “up a creek”… likely just more B.S.

So…

1) Fewer auctions?

2) Tightening borders (fewer exports)?

3) More demand? I sincerely doubt it.

4) IMHO and most likely, the supply here in the U.S. from disgruntled sellers, which is likely where the bulk of the U.S. supply really comes from, and current interested buyers has finally reached a point of parity where the “supply – demand” scales are more evenly balanced.

Hence, the price goes up.

______________________________________________________________

Iraq receives nearly $ 11 billion from Arab and foreign countries for reconstruction

Baghdad Mawazine News – Iraq received nearly 11 billion dollars from Arab and foreign countries during the Kuwait International Conference for the Reconstruction of Iraq.

Saudi Arabia’s foreign minister, Adel al-Jubeir, said that “the kingdom has allocated $ 1.5 billion for reconstruction projects in Iraq and the financing of Saudi exports to it.”

While the Turkish Foreign Minister Mouloud Javishoglu, during the conference, to provide five billion dollars to support the reconstruction of Iraq.

Iraq also received $ 100 million as a contribution from Australia to reconstruction, while Britain pledged up to $ 1 billion a year to Iraq in the form of export credit over 10 years.

Finland has donated $ 10 million to carry out humanitarian projects in Iraq and has pledged to train Iraqi forces.

While Qatar allocated one billion dollars in the form of loans and investments and export facilities for its products in Iraq.

BGG ~ I keep hearing the complaints about Iraq getting all kinds of “welfare” as though they are living on these “pending grants” and IMF loans (instead of revaluing their currency).

I would be careful in assuming this is the situation or that any of this is any kind of “hold-up” to economic and monetary reform. I doubt so very much.

Everyone (as in – the investors and countries) wants to get close, be in on the beginning, but not so much so that they are just giving “hand-outs” with nothing in return. Iraq has to do their part. I get a little bit of the sense Iraq is kind of getting the cart before the horse with this latest conference.

It has long been speculated (and openly reported by Iraqi economists) Iraq would be hit with a “wall” of investment capitol when they truly started economic, monetary and governance reforms. However, it does not appear to me we are quite to this point yet. Everyone wants in – Iraq just don’t have the temperature quite right yet.

Keep in mind… these are “allocations”, “pledges” and “financing” and “projected exports” for projects. Basically these are all “feel good, sweet nothings” at a conference.

Next Monday we’ll see what’s what. Thus far they are well short of the 100 billion in give-aways (and grants) they were asking for.

On the other hand – why should they be given anything (for free)? If they would just pass corruption law(s) currently caught up in their Parliament’s legislative log-jam and then enforce them, their state treasury will swell by an estimated 500 billion (as they have plainly reported).

No need for anything from anyone.

Further, it is my opinion, Iraq should be held to account for (that means – PAY FOR) the military and humanitarian aid tab they’ve run up over the last few years.

______________________________________________________________

Iraq is ready to reform the financial and economic sectors

Economy News Baghdad: UN Secretary-General Antonio Guterich said Iraq was ready to reform the financial and economic sectors.

“The United Nations launches a grant program that helps repair infrastructure, improves daily life and helps improve economic reforms and revitalize areas that have been damaged,” he said.

(Special Thanks to Loopster for sharing)
______________________________________________________________

World Bank: Iraq is the best place to invest in the world

Read More: http://www.dinarupdates.com/showthread.php?56255-World-Bank-Iraq-is-the-best-place-to-invest-in-the-world
______________________________________________________________

The @IraqiGovt is implementing reforms

Follow us on twitter @DinarUpdates !!

______________________________________________________________

____________________________________________________________

Sources: away from the Kurds National Alliance and the Union of forces agree to pass the budget

Image result for picture of Kurdish National Alliance

Read more: http://www.dinarupdates.com/blog/
____________________________________________________________

Former minister: $ 500 billion will return to the state by applying the law “Where do you get this”

The House of Representatives on Saturday, during the session of the House of Representatives first reading of the proposed law on graft “Where you get this.”

“Former Minister of Water Resources Mohsen al-Shammari, it is likely to recover 500 billion dollars to the state treasury if the law applies” Where do you get this? “…

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

BGG ~ 500 Billion USD is an awful lot of money… especially when you consider Iraq is only asking for 100 Billion for their COMPLETE rebuilding process.

This is the size and scope of their corruption problem. This bill will be a problem. Everyone voting on it is crooked. Kinda’ like trying to get term limits passed here.

____________________________________________________________

Masoum stresses Iraq's urgent need for a solid and open economy

Masoum stresses Iraq’s urgent need for a solid and open economy

{Baghdad: Al-Furat News} President Fuad Masum, stressed the urgent need of Iraq to build a solid economy.

Read More: http://www.dinarupdates.com/blog/
____________________________________________________________

Special for change .. Abadi of parliament: the international community will not help Iraq if the budget is not approved

Quoting the channel of change .. Abadi of parliament: the international community will not help Iraq if the budget is not approved

Altahreernews.com

BGG ~ Oh wow. We’ll this pretty much spells it out. However, keep in mind – this is likely Abadi talking TO his Parliament, urging them to adopt their budget.

When I initially started down this line of reasoning, I had no idea international sentiment was as tough as it appears to be. WOW!!

The UN, IMF and WB all appear to want to support Iraq in the worst way – but it also very much appears there are results that are yet required.

P.S. This might also explain this very direct, “hands on” push by Abadi to get the budget done.

We wait and watch.

____________________________________________________________

Al-Alusi: Donor countries will not pay one dirham to a corrupt government

Special Mawazine News – Parliamentarian Mithal al-Alusi said on Tuesday that donor countries would not pay one dirham to a government accused of corruption.

“The donor countries can not be assured of their support at the donor conference to be held in Kuwait next month,” Alusi told Mawazine News.

“Those countries will not give Iraq a single dirham, because the government and the conservatives are accused of corruption,” he said.

“The states have informed the Iraqi government and politicians (we will not give you money because you are not trustworthy),” Alusi said.

The government has earlier announced efforts to coordinate with the Kuwaiti government to invite more than 70 countries to the donors conference scheduled to be held in Kuwait in February.

Source

Paul Moseley – “BGG YOU HIT THE NAIL ON THE HEAD”!!

BGG ~ Another accurate portrayal in the news. That is all. Thank you though 🙂

I have been talking the last however long about what Abadi needs to do along the lines of a real fight against corruption and why. Then I came out and did a fairly long dissertation on the matter. Some people didn’t like what I had to say… I only call it the way I see it.

Then this came out today…

…”Those countries will not give Iraq a single dirham, because the government and the conservatives are accused of corruption,” he said…

This might explain the less-than-luke-warm response Abadi got while at Davos.

____________________________________________________________

Abadi’s war against corruption must begin with Maliki and his henchmen

Corruption in Iraq has caused severe poverty in Iraq, which led to civil and sectarian strife that caused the extreme damages to the country’s infrastructure.

Shia parties lead corruption…

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

______________________________________________________________

Post RV Checklist (it’s getting to be that time!! Listen up!!)

Dos and Don’ts of Windfall Wealth:

Treat it like a PowerBall win

– Tell no one, not even family. If you must talk, do so with one who is already in the know.

– Don’t run out & buy new “stuff”. People notice.

– Get an unpublished number and give it out very sparingly.

– Get a tax accountant you can trust to make sure the IRS is satisfied (Certified Opinion is something to look into) and pursue asset protection…

If you found this blog, our website or chats helpful – Forward it to a friend!! We couldn’t do it without you!! Thanks – BGG!!

www.DinarUpdates.com

DINAR OBSERVER DAILY – Feb. 18th

Posted on February 18, 2018 by The Dinar Observer

BGG (Dinar Guru) – …I am assuming those opposed to corruption and the corrupt processes…are putting pressure on the first group to do something, other than just fish around for free money. Such is noted in the above article. On a side note, and relating to “fishing around” for free money…there did appear to be something of a start to rounding up corrupt political figures in an effort to reclaim “ill-gotten gains”. As an additional note: Reported in Baghdad recently, it is implied such a push must include Maliki and his henchmen if such a move is to be recognized by the world (and Iraqis) as a genuine effort. While a float may or may not be what they (or you and I) had envisioned, they just may well do something like this before they do nothing at all. …I don’t really care how it starts…just that it does and they GET TO IT!! [post 2 of 2]
______________________________________________________________

Float the Iraqi dinar and stop the auction currency is the only solution of the Iraqi economy.

Read Full Text with Commentary: http://www.dinarupdates.com/blog/
______________________________________________________________

COMMITTEE OF ACCOUNTABILITY: ANNOUNCE THE NAMES OF 5,000 PEOPLE INCLUDED IN THE SEIZURE OF FUNDS THIS WEEK

Al-Suhail, who is covered by the decision to hold the money, estimated about 5,000 persons, while the names of tens of thousands will be issued and they can be disposed of afterwards.

(Special thanks to Vernell)

BGG ~ Funny how that works… about one day after they realize the world isn’t going to “give them” anymore money, they go back and think about getting it back from the crooked politicians who’ve been stealing from the GOI and the people of Iraq.

According to recent estimates, they could collect as much as 500 BILLION (USD) back to the state treasury by enacting and enforcing simple legislation they’ve had in the works for some time now.

P.S. as reported in major OP ED’s in Baghdad recently, Maliki and his henchmen had better wind up on this list…

It is critical to Iraq’s long term success to get a handle on the endemic corruption.

______________________________________________________________

Central Bank of Iraq Auctions $198,173,094 on 15 February 2018

The latest auction was attended by 45 banks and 9 remittance companies. The same institutions attended the auction held on February 15 compared to the previous auction.

Data for the February 15 auction was made public by CBI Announcement Number 3636.

BGG ~ I will continue to highlight the regular auctions. After recently asking around about the reasons for the “tightening” of the supply of Dinar in the U.S… one of the main reasons I got was the fewer and fewer auctions. Wait – what?!? They are still having fairly robust auctions.

So, obviously, that’s not true… so what is it?

Another possibility is this MASSIVE financial embargo on Kurdistan, provided this was where currency was coming from.

I have also heard of a couple of major players talking about having money in – or being able to get money out of Kurdistan… all baloney. Kurdistan has been under very tight controls since snubbing the world diplomats with this sham vote pushed by Barzani.

Why was it a sham vote? Simple fact: you can’t just take what isn’t yours to take just because you vote on it.

Back to my previous rebuttal – anyone who actually had money in Kurdistan would have either gotten it out or is REALLY “up a creek”… likely just more B.S.

So…

1) Fewer auctions?

2) Tightening borders (fewer exports)?

3) More demand? I sincerely doubt it.

4) IMHO and most likely, the supply here in the U.S. from disgruntled sellers, which is likely where the bulk of the U.S. supply really comes from, and current interested buyers has finally reached a point of parity where the “supply – demand” scales are more evenly balanced.

Hence, the price goes up.

______________________________________________________________

Iraq receives nearly $ 11 billion from Arab and foreign countries for reconstruction

Baghdad Mawazine News – Iraq received nearly 11 billion dollars from Arab and foreign countries during the Kuwait International Conference for the Reconstruction of Iraq.

Saudi Arabia’s foreign minister, Adel al-Jubeir, said that “the kingdom has allocated $ 1.5 billion for reconstruction projects in Iraq and the financing of Saudi exports to it.”

While the Turkish Foreign Minister Mouloud Javishoglu, during the conference, to provide five billion dollars to support the reconstruction of Iraq.

Iraq also received $ 100 million as a contribution from Australia to reconstruction, while Britain pledged up to $ 1 billion a year to Iraq in the form of export credit over 10 years.

Finland has donated $ 10 million to carry out humanitarian projects in Iraq and has pledged to train Iraqi forces.

While Qatar allocated one billion dollars in the form of loans and investments and export facilities for its products in Iraq.

BGG ~ I keep hearing the complaints about Iraq getting all kinds of “welfare” as though they are living on these “pending grants” and IMF loans (instead of revaluing their currency).

I would be careful in assuming this is the situation or that any of this is any kind of “hold-up” to economic and monetary reform. I doubt so very much.

Everyone (as in – the investors and countries) wants to get close, be in on the beginning, but not so much so that they are just giving “hand-outs” with nothing in return. Iraq has to do their part. I get a little bit of the sense Iraq is kind of getting the cart before the horse with this latest conference.

It has long been speculated (and openly reported by Iraqi economists) Iraq would be hit with a “wall” of investment capitol when they truly started economic, monetary and governance reforms. However, it does not appear to me we are quite to this point yet. Everyone wants in – Iraq just don’t have the temperature quite right yet.

Keep in mind… these are “allocations”, “pledges” and “financing” and “projected exports” for projects. Basically these are all “feel good, sweet nothings” at a conference.

Next Monday we’ll see what’s what. Thus far they are well short of the 100 billion in give-aways (and grants) they were asking for.

On the other hand – why should they be given anything (for free)? If they would just pass corruption law(s) currently caught up in their Parliament’s legislative log-jam and then enforce them, their state treasury will swell by an estimated 500 billion (as they have plainly reported).

No need for anything from anyone.

Further, it is my opinion, Iraq should be held to account for (that means – PAY FOR) the military and humanitarian aid tab they’ve run up over the last few years.

______________________________________________________________

Iraq is ready to reform the financial and economic sectors

Economy News Baghdad: UN Secretary-General Antonio Guterich said Iraq was ready to reform the financial and economic sectors.

“The United Nations launches a grant program that helps repair infrastructure, improves daily life and helps improve economic reforms and revitalize areas that have been damaged,” he said.

(Special Thanks to Loopster for sharing)
______________________________________________________________

World Bank: Iraq is the best place to invest in the world

Read More: http://www.dinarupdates.com/showthread.php?56255-World-Bank-Iraq-is-the-best-place-to-invest-in-the-world
______________________________________________________________

The @IraqiGovt is implementing reforms

Follow us on twitter @DinarUpdates !!

______________________________________________________________

____________________________________________________________

Sources: away from the Kurds National Alliance and the Union of forces agree to pass the budget

Image result for picture of Kurdish National Alliance

Read more: http://www.dinarupdates.com/blog/
____________________________________________________________

Former minister: $ 500 billion will return to the state by applying the law “Where do you get this”

The House of Representatives on Saturday, during the session of the House of Representatives first reading of the proposed law on graft “Where you get this.”

“Former Minister of Water Resources Mohsen al-Shammari, it is likely to recover 500 billion dollars to the state treasury if the law applies” Where do you get this? “…

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

BGG ~ 500 Billion USD is an awful lot of money… especially when you consider Iraq is only asking for 100 Billion for their COMPLETE rebuilding process.

This is the size and scope of their corruption problem. This bill will be a problem. Everyone voting on it is crooked. Kinda’ like trying to get term limits passed here.

____________________________________________________________

Masoum stresses Iraq's urgent need for a solid and open economy

Masoum stresses Iraq’s urgent need for a solid and open economy

{Baghdad: Al-Furat News} President Fuad Masum, stressed the urgent need of Iraq to build a solid economy.

Read More: http://www.dinarupdates.com/blog/
____________________________________________________________

Special for change .. Abadi of parliament: the international community will not help Iraq if the budget is not approved

Quoting the channel of change .. Abadi of parliament: the international community will not help Iraq if the budget is not approved

Altahreernews.com

BGG ~ Oh wow. We’ll this pretty much spells it out. However, keep in mind – this is likely Abadi talking TO his Parliament, urging them to adopt their budget.

When I initially started down this line of reasoning, I had no idea international sentiment was as tough as it appears to be. WOW!!

The UN, IMF and WB all appear to want to support Iraq in the worst way – but it also very much appears there are results that are yet required.

P.S. This might also explain this very direct, “hands on” push by Abadi to get the budget done.

We wait and watch.

____________________________________________________________

Al-Alusi: Donor countries will not pay one dirham to a corrupt government

Special Mawazine News – Parliamentarian Mithal al-Alusi said on Tuesday that donor countries would not pay one dirham to a government accused of corruption.

“The donor countries can not be assured of their support at the donor conference to be held in Kuwait next month,” Alusi told Mawazine News.

“Those countries will not give Iraq a single dirham, because the government and the conservatives are accused of corruption,” he said.

“The states have informed the Iraqi government and politicians (we will not give you money because you are not trustworthy),” Alusi said.

The government has earlier announced efforts to coordinate with the Kuwaiti government to invite more than 70 countries to the donors conference scheduled to be held in Kuwait in February.

Source

Paul Moseley – “BGG YOU HIT THE NAIL ON THE HEAD”!!

BGG ~ Another accurate portrayal in the news. That is all. Thank you though 🙂

I have been talking the last however long about what Abadi needs to do along the lines of a real fight against corruption and why. Then I came out and did a fairly long dissertation on the matter. Some people didn’t like what I had to say… I only call it the way I see it.

Then this came out today…

…”Those countries will not give Iraq a single dirham, because the government and the conservatives are accused of corruption,” he said…

This might explain the less-than-luke-warm response Abadi got while at Davos.

____________________________________________________________

Abadi’s war against corruption must begin with Maliki and his henchmen

Corruption in Iraq has caused severe poverty in Iraq, which led to civil and sectarian strife that caused the extreme damages to the country’s infrastructure.

Shia parties lead corruption…

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

______________________________________________________________

Post RV Checklist (it’s getting to be that time!! Listen up!!)

Dos and Don’ts of Windfall Wealth:

Treat it like a PowerBall win

– Tell no one, not even family. If you must talk, do so with one who is already in the know.

– Don’t run out & buy new “stuff”. People notice.

– Get an unpublished number and give it out very sparingly.

– Get a tax accountant you can trust to make sure the IRS is satisfied (Certified Opinion is something to look into) and pursue asset protection…

If you found this blog, our website or chats helpful – Forward it to a friend!! We couldn’t do it without you!! Thanks – BGG!!

www.DinarUpdates.com

DINAR OBSERVER DAILY – Feb. 17th

Posted on February 17, 2018 by The Dinar Observer

Float the Iraqi dinar and stop the auction currency is the only solution of the Iraqi economy.

Read Full Text with Commentary: http://www.dinarupdates.com/blog/
______________________________________________________________

COMMITTEE OF ACCOUNTABILITY: ANNOUNCE THE NAMES OF 5,000 PEOPLE INCLUDED IN THE SEIZURE OF FUNDS THIS WEEK

Al-Suhail, who is covered by the decision to hold the money, estimated about 5,000 persons, while the names of tens of thousands will be issued and they can be disposed of afterwards.

(Special thanks to Vernell)

BGG ~ Funny how that works… about one day after they realize the world isn’t going to “give them” anymore money, they go back and think about getting it back from the crooked politicians who’ve been stealing from the GOI and the people of Iraq.

According to recent estimates, they could collect as much as 500 BILLION (USD) back to the state treasury by enacting and enforcing simple legislation they’ve had in the works for some time now.

P.S. as reported in major OP ED’s in Baghdad recently, Maliki and his henchmen had better wind up on this list…

It is critical to Iraq’s long term success to get a handle on the endemic corruption.

______________________________________________________________

Central Bank of Iraq Auctions $198,173,094 on 15 February 2018

The latest auction was attended by 45 banks and 9 remittance companies. The same institutions attended the auction held on February 15 compared to the previous auction.

Data for the February 15 auction was made public by CBI Announcement Number 3636.

BGG ~ I will continue to highlight the regular auctions. After recently asking around about the reasons for the “tightening” of the supply of Dinar in the U.S… one of the main reasons I got was the fewer and fewer auctions. Wait – what?!? They are still having fairly robust auctions.

So, obviously, that’s not true… so what is it?

Another possibility is this MASSIVE financial embargo on Kurdistan, provided this was where currency was coming from.

I have also heard of a couple of major players talking about having money in – or being able to get money out of Kurdistan… all baloney. Kurdistan has been under very tight controls since snubbing the world diplomats with this sham vote pushed by Barzani.

Why was it a sham vote? Simple fact: you can’t just take what isn’t yours to take just because you vote on it.

Back to my previous rebuttal – anyone who actually had money in Kurdistan would have either gotten it out or is REALLY “up a creek”… likely just more B.S.

So…

1) Fewer auctions?

2) Tightening borders (fewer exports)?

3) More demand? I sincerely doubt it.

4) IMHO and most likely, the supply here in the U.S. from disgruntled sellers, which is likely where the bulk of the U.S. supply really comes from, and current interested buyers has finally reached a point of parity where the “supply – demand” scales are more evenly balanced.

Hence, the price goes up.

______________________________________________________________

Iraq receives nearly $ 11 billion from Arab and foreign countries for reconstruction

Baghdad Mawazine News – Iraq received nearly 11 billion dollars from Arab and foreign countries during the Kuwait International Conference for the Reconstruction of Iraq.

Saudi Arabia’s foreign minister, Adel al-Jubeir, said that “the kingdom has allocated $ 1.5 billion for reconstruction projects in Iraq and the financing of Saudi exports to it.”

While the Turkish Foreign Minister Mouloud Javishoglu, during the conference, to provide five billion dollars to support the reconstruction of Iraq.

Iraq also received $ 100 million as a contribution from Australia to reconstruction, while Britain pledged up to $ 1 billion a year to Iraq in the form of export credit over 10 years.

Finland has donated $ 10 million to carry out humanitarian projects in Iraq and has pledged to train Iraqi forces.

While Qatar allocated one billion dollars in the form of loans and investments and export facilities for its products in Iraq.

BGG ~ I keep hearing the complaints about Iraq getting all kinds of “welfare” as though they are living on these “pending grants” and IMF loans (instead of revaluing their currency).

I would be careful in assuming this is the situation or that any of this is any kind of “hold-up” to economic and monetary reform. I doubt so very much.

Everyone (as in – the investors and countries) wants to get close, be in on the beginning, but not so much so that they are just giving “hand-outs” with nothing in return. Iraq has to do their part. I get a little bit of the sense Iraq is kind of getting the cart before the horse with this latest conference.

It has long been speculated (and openly reported by Iraqi economists) Iraq would be hit with a “wall” of investment capitol when they truly started economic, monetary and governance reforms. However, it does not appear to me we are quite to this point yet. Everyone wants in – Iraq just don’t have the temperature quite right yet.

Keep in mind… these are “allocations”, “pledges” and “financing” and “projected exports” for projects. Basically these are all “feel good, sweet nothings” at a conference.

Next Monday we’ll see what’s what. Thus far they are well short of the 100 billion in give-aways (and grants) they were asking for.

On the other hand – why should they be given anything (for free)? If they would just pass corruption law(s) currently caught up in their Parliament’s legislative log-jam and then enforce them, their state treasury will swell by an estimated 500 billion (as they have plainly reported).

No need for anything from anyone.

Further, it is my opinion, Iraq should be held to account for (that means – PAY FOR) the military and humanitarian aid tab they’ve run up over the last few years.

______________________________________________________________

Iraq is ready to reform the financial and economic sectors

Economy News Baghdad: UN Secretary-General Antonio Guterich said Iraq was ready to reform the financial and economic sectors.

“The United Nations launches a grant program that helps repair infrastructure, improves daily life and helps improve economic reforms and revitalize areas that have been damaged,” he said.

(Special Thanks to Loopster for sharing)
______________________________________________________________

World Bank: Iraq is the best place to invest in the world

Read More: http://www.dinarupdates.com/showthread.php?56255-World-Bank-Iraq-is-the-best-place-to-invest-in-the-world
______________________________________________________________

The @IraqiGovt is implementing reforms

Follow us on twitter @DinarUpdates !!

______________________________________________________________

____________________________________________________________

Sources: away from the Kurds National Alliance and the Union of forces agree to pass the budget

Image result for picture of Kurdish National Alliance

Read more: http://www.dinarupdates.com/blog/
____________________________________________________________

Former minister: $ 500 billion will return to the state by applying the law “Where do you get this”

The House of Representatives on Saturday, during the session of the House of Representatives first reading of the proposed law on graft “Where you get this.”

“Former Minister of Water Resources Mohsen al-Shammari, it is likely to recover 500 billion dollars to the state treasury if the law applies” Where do you get this? “…

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

BGG ~ 500 Billion USD is an awful lot of money… especially when you consider Iraq is only asking for 100 Billion for their COMPLETE rebuilding process.

This is the size and scope of their corruption problem. This bill will be a problem. Everyone voting on it is crooked. Kinda’ like trying to get term limits passed here.

____________________________________________________________

Masoum stresses Iraq's urgent need for a solid and open economy

Masoum stresses Iraq’s urgent need for a solid and open economy

{Baghdad: Al-Furat News} President Fuad Masum, stressed the urgent need of Iraq to build a solid economy.

Read More: http://www.dinarupdates.com/blog/
____________________________________________________________

Special for change .. Abadi of parliament: the international community will not help Iraq if the budget is not approved

Quoting the channel of change .. Abadi of parliament: the international community will not help Iraq if the budget is not approved

Altahreernews.com

BGG ~ Oh wow. We’ll this pretty much spells it out. However, keep in mind – this is likely Abadi talking TO his Parliament, urging them to adopt their budget.

When I initially started down this line of reasoning, I had no idea international sentiment was as tough as it appears to be. WOW!!

The UN, IMF and WB all appear to want to support Iraq in the worst way – but it also very much appears there are results that are yet required.

P.S. This might also explain this very direct, “hands on” push by Abadi to get the budget done.

We wait and watch.

____________________________________________________________

Al-Alusi: Donor countries will not pay one dirham to a corrupt government

Special Mawazine News – Parliamentarian Mithal al-Alusi said on Tuesday that donor countries would not pay one dirham to a government accused of corruption.

“The donor countries can not be assured of their support at the donor conference to be held in Kuwait next month,” Alusi told Mawazine News.

“Those countries will not give Iraq a single dirham, because the government and the conservatives are accused of corruption,” he said.

“The states have informed the Iraqi government and politicians (we will not give you money because you are not trustworthy),” Alusi said.

The government has earlier announced efforts to coordinate with the Kuwaiti government to invite more than 70 countries to the donors conference scheduled to be held in Kuwait in February.

Source

Paul Moseley – “BGG YOU HIT THE NAIL ON THE HEAD”!!

BGG ~ Another accurate portrayal in the news. That is all. Thank you though 🙂

I have been talking the last however long about what Abadi needs to do along the lines of a real fight against corruption and why. Then I came out and did a fairly long dissertation on the matter. Some people didn’t like what I had to say… I only call it the way I see it.

Then this came out today…

…”Those countries will not give Iraq a single dirham, because the government and the conservatives are accused of corruption,” he said…

This might explain the less-than-luke-warm response Abadi got while at Davos.

____________________________________________________________

Abadi’s war against corruption must begin with Maliki and his henchmen

Corruption in Iraq has caused severe poverty in Iraq, which led to civil and sectarian strife that caused the extreme damages to the country’s infrastructure.

Shia parties lead corruption…

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

______________________________________________________________

Post RV Checklist (it’s getting to be that time!! Listen up!!)

Dos and Don’ts of Windfall Wealth:

Treat it like a PowerBall win

– Tell no one, not even family. If you must talk, do so with one who is already in the know.

– Don’t run out & buy new “stuff”. People notice.

– Get an unpublished number and give it out very sparingly.

– Get a tax accountant you can trust to make sure the IRS is satisfied (Certified Opinion is something to look into) and pursue asset protection…

If you found this blog, our website or chats helpful – Forward it to a friend!! We couldn’t do it without you!! Thanks – BGG!!

www.DinarUpdates.com

DINAR OBSERVER DAILY – Feb. 16th

Posted on February 16, 2018 by The Dinar Observer

COMMITTEE OF ACCOUNTABILITY: ANNOUNCE THE NAMES OF 5,000 PEOPLE INCLUDED IN THE SEIZURE OF FUNDS THIS WEEK

Al-Suhail, who is covered by the decision to hold the money, estimated about 5,000 persons, while the names of tens of thousands will be issued and they can be disposed of afterwards.

(Special thanks to Vernell)

BGG ~ Funny how that works… about one day after they realize the world isn’t going to “give them” anymore money, they go back and think about getting it back from the crooked politicians who’ve been stealing from the GOI and the people of Iraq.

According to recent estimates, they could collect as much as 500 BILLION (USD) back to the state treasury by enacting and enforcing simple legislation they’ve had in the works for some time now.

P.S. as reported in major OP ED’s in Baghdad recently, Maliki and his henchmen had better wind up on this list…

It is critical to Iraq’s long term success to get a handle on the endemic corruption.

______________________________________________________________

Central Bank of Iraq Auctions $198,173,094 on 15 February 2018

The latest auction was attended by 45 banks and 9 remittance companies. The same institutions attended the auction held on February 15 compared to the previous auction.

Data for the February 15 auction was made public by CBI Announcement Number 3636.

BGG ~ I will continue to highlight the regular auctions. After recently asking around about the reasons for the “tightening” of the supply of Dinar in the U.S… one of the main reasons I got was the fewer and fewer auctions. Wait – what?!? They are still having fairly robust auctions.

So, obviously, that’s not true… so what is it?

Another possibility is this MASSIVE financial embargo on Kurdistan, provided this was where currency was coming from.

I have also heard of a couple of major players talking about having money in – or being able to get money out of Kurdistan… all baloney. Kurdistan has been under very tight controls since snubbing the world diplomats with this sham vote pushed by Barzani.

Why was it a sham vote? Simple fact: you can’t just take what isn’t yours to take just because you vote on it.

Back to my previous rebuttal – anyone who actually had money in Kurdistan would have either gotten it out or is REALLY “up a creek”… likely just more B.S.

So…

1) Fewer auctions?

2) Tightening borders (fewer exports)?

3) More demand? I sincerely doubt it.

4) IMHO and most likely, the supply here in the U.S. from disgruntled sellers, which is likely where the bulk of the U.S. supply really comes from, and current interested buyers has finally reached a point of parity where the “supply – demand” scales are more evenly balanced.

Hence, the price goes up.

______________________________________________________________

Iraq receives nearly $ 11 billion from Arab and foreign countries for reconstruction

Baghdad Mawazine News – Iraq received nearly 11 billion dollars from Arab and foreign countries during the Kuwait International Conference for the Reconstruction of Iraq.

Saudi Arabia’s foreign minister, Adel al-Jubeir, said that “the kingdom has allocated $ 1.5 billion for reconstruction projects in Iraq and the financing of Saudi exports to it.”

While the Turkish Foreign Minister Mouloud Javishoglu, during the conference, to provide five billion dollars to support the reconstruction of Iraq.

Iraq also received $ 100 million as a contribution from Australia to reconstruction, while Britain pledged up to $ 1 billion a year to Iraq in the form of export credit over 10 years.

Finland has donated $ 10 million to carry out humanitarian projects in Iraq and has pledged to train Iraqi forces.

While Qatar allocated one billion dollars in the form of loans and investments and export facilities for its products in Iraq.

BGG ~ I keep hearing the complaints about Iraq getting all kinds of “welfare” as though they are living on these “pending grants” and IMF loans (instead of revaluing their currency).

I would be careful in assuming this is the situation or that any of this is any kind of “hold-up” to economic and monetary reform. I doubt so very much.

Everyone (as in – the investors and countries) wants to get close, be in on the beginning, but not so much so that they are just giving “hand-outs” with nothing in return. Iraq has to do their part. I get a little bit of the sense Iraq is kind of getting the cart before the horse with this latest conference.

It has long been speculated (and openly reported by Iraqi economists) Iraq would be hit with a “wall” of investment capitol when they truly started economic, monetary and governance reforms. However, it does not appear to me we are quite to this point yet. Everyone wants in – Iraq just don’t have the temperature quite right yet.

Keep in mind… these are “allocations”, “pledges” and “financing” and “projected exports” for projects. Basically these are all “feel good, sweet nothings” at a conference.

Next Monday we’ll see what’s what. Thus far they are well short of the 100 billion in give-aways (and grants) they were asking for.

On the other hand – why should they be given anything (for free)? If they would just pass corruption law(s) currently caught up in their Parliament’s legislative log-jam and then enforce them, their state treasury will swell by an estimated 500 billion (as they have plainly reported).

No need for anything from anyone.

Further, it is my opinion, Iraq should be held to account for (that means – PAY FOR) the military and humanitarian aid tab they’ve run up over the last few years.

______________________________________________________________

Iraq is ready to reform the financial and economic sectors

Economy News Baghdad: UN Secretary-General Antonio Guterich said Iraq was ready to reform the financial and economic sectors.

“The United Nations launches a grant program that helps repair infrastructure, improves daily life and helps improve economic reforms and revitalize areas that have been damaged,” he said.

(Special Thanks to Loopster for sharing)
______________________________________________________________

World Bank: Iraq is the best place to invest in the world

Read More: http://www.dinarupdates.com/showthread.php?56255-World-Bank-Iraq-is-the-best-place-to-invest-in-the-world
______________________________________________________________

The @IraqiGovt is implementing reforms

Follow us on twitter @DinarUpdates !!

______________________________________________________________

____________________________________________________________

Sources: away from the Kurds National Alliance and the Union of forces agree to pass the budget

Image result for picture of Kurdish National Alliance

Read more: http://www.dinarupdates.com/blog/
____________________________________________________________

Former minister: $ 500 billion will return to the state by applying the law “Where do you get this”

The House of Representatives on Saturday, during the session of the House of Representatives first reading of the proposed law on graft “Where you get this.”

“Former Minister of Water Resources Mohsen al-Shammari, it is likely to recover 500 billion dollars to the state treasury if the law applies” Where do you get this? “…

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

BGG ~ 500 Billion USD is an awful lot of money… especially when you consider Iraq is only asking for 100 Billion for their COMPLETE rebuilding process.

This is the size and scope of their corruption problem. This bill will be a problem. Everyone voting on it is crooked. Kinda’ like trying to get term limits passed here.

____________________________________________________________

Masoum stresses Iraq's urgent need for a solid and open economy

Masoum stresses Iraq’s urgent need for a solid and open economy

{Baghdad: Al-Furat News} President Fuad Masum, stressed the urgent need of Iraq to build a solid economy.

Read More: http://www.dinarupdates.com/blog/
____________________________________________________________

Special for change .. Abadi of parliament: the international community will not help Iraq if the budget is not approved

Quoting the channel of change .. Abadi of parliament: the international community will not help Iraq if the budget is not approved

Altahreernews.com

BGG ~ Oh wow. We’ll this pretty much spells it out. However, keep in mind – this is likely Abadi talking TO his Parliament, urging them to adopt their budget.

When I initially started down this line of reasoning, I had no idea international sentiment was as tough as it appears to be. WOW!!

The UN, IMF and WB all appear to want to support Iraq in the worst way – but it also very much appears there are results that are yet required.

P.S. This might also explain this very direct, “hands on” push by Abadi to get the budget done.

We wait and watch.

____________________________________________________________

Al-Alusi: Donor countries will not pay one dirham to a corrupt government

Special Mawazine News – Parliamentarian Mithal al-Alusi said on Tuesday that donor countries would not pay one dirham to a government accused of corruption.

“The donor countries can not be assured of their support at the donor conference to be held in Kuwait next month,” Alusi told Mawazine News.

“Those countries will not give Iraq a single dirham, because the government and the conservatives are accused of corruption,” he said.

“The states have informed the Iraqi government and politicians (we will not give you money because you are not trustworthy),” Alusi said.

The government has earlier announced efforts to coordinate with the Kuwaiti government to invite more than 70 countries to the donors conference scheduled to be held in Kuwait in February.

Source

Paul Moseley – “BGG YOU HIT THE NAIL ON THE HEAD”!!

BGG ~ Another accurate portrayal in the news. That is all. Thank you though 🙂

I have been talking the last however long about what Abadi needs to do along the lines of a real fight against corruption and why. Then I came out and did a fairly long dissertation on the matter. Some people didn’t like what I had to say… I only call it the way I see it.

Then this came out today…

…”Those countries will not give Iraq a single dirham, because the government and the conservatives are accused of corruption,” he said…

This might explain the less-than-luke-warm response Abadi got while at Davos.

____________________________________________________________

Abadi’s war against corruption must begin with Maliki and his henchmen

Corruption in Iraq has caused severe poverty in Iraq, which led to civil and sectarian strife that caused the extreme damages to the country’s infrastructure.

Shia parties lead corruption…

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

______________________________________________________________

Post RV Checklist (it’s getting to be that time!! Listen up!!)

Dos and Don’ts of Windfall Wealth:

Treat it like a PowerBall win

– Tell no one, not even family. If you must talk, do so with one who is already in the know.

– Don’t run out & buy new “stuff”. People notice.

– Get an unpublished number and give it out very sparingly.

– Get a tax accountant you can trust to make sure the IRS is satisfied (Certified Opinion is something to look into) and pursue asset protection…

If you found this blog, our website or chats helpful – Forward it to a friend!! We couldn’t do it without you!! Thanks – BGG!!

www.DinarUpdates.com

DINAR OBSERVER DAILY – Feb. 15th

Posted on February 15, 2018 by The Dinar Observer

Iraq receives nearly $ 11 billion from Arab and foreign countries for reconstruction

Baghdad Mawazine News – Iraq received nearly 11 billion dollars from Arab and foreign countries during the Kuwait International Conference for the Reconstruction of Iraq.

Saudi Arabia’s foreign minister, Adel al-Jubeir, said that “the kingdom has allocated $ 1.5 billion for reconstruction projects in Iraq and the financing of Saudi exports to it.”

While the Turkish Foreign Minister Mouloud Javishoglu, during the conference, to provide five billion dollars to support the reconstruction of Iraq.

Iraq also received $ 100 million as a contribution from Australia to reconstruction, while Britain pledged up to $ 1 billion a year to Iraq in the form of export credit over 10 years.

Finland has donated $ 10 million to carry out humanitarian projects in Iraq and has pledged to train Iraqi forces.

While Qatar allocated one billion dollars in the form of loans and investments and export facilities for its products in Iraq.

BGG ~ I keep hearing the complaints about Iraq getting all kinds of “welfare” as though they are living on these “pending grants” and IMF loans (instead of revaluing their currency).

I would be careful in assuming this is the situation or that any of this is any kind of “hold-up” to economic and monetary reform. I doubt so very much.

Everyone (as in – the investors and countries) wants to get close, be in on the beginning, but not so much so that they are just giving “hand-outs” with nothing in return. Iraq has to do their part. I get a little bit of the sense Iraq is kind of getting the cart before the horse with this latest conference.

It has long been speculated (and openly reported by Iraqi economists) Iraq would be hit with a “wall” of investment capitol when they truly started economic, monetary and governance reforms. However, it does not appear to me we are quite to this point yet. Everyone wants in – Iraq just don’t have the temperature quite right yet.

Keep in mind… these are “allocations”, “pledges” and “financing” and “projected exports” for projects. Basically these are all “feel good, sweet nothings” at a conference.

Next Monday we’ll see what’s what. Thus far they are well short of the 100 billion in give-aways (and grants) they were asking for.

On the other hand – why should they be given anything (for free)? If they would just pass corruption law(s) currently caught up in their Parliament’s legislative log-jam and then enforce them, their state treasury will swell by an estimated 500 billion (as they have plainly reported).

No need for anything from anyone.

Further, it is my opinion, Iraq should be held to account for (that means – PAY FOR) the military and humanitarian aid tab they’ve run up over the last few years.

______________________________________________________________

Central Bank of Iraq Auctions $198,173,094 on 15 February 2018

The latest auction was attended by 45 banks and 9 remittance companies. The same institutions attended the auction held on February 15 compared to the previous auction.

Data for the February 15 auction was made public by CBI Announcement Number 3636.

Read More: http://www.dinarupdates.com/showthread.php?56268-Central-Bank-of-Iraq-Auctions-182-320-645-on-14-February-2018&p=181224#post181224
______________________________________________________________

Iraq is ready to reform the financial and economic sectors

Economy News Baghdad: UN Secretary-General Antonio Guterich said Iraq was ready to reform the financial and economic sectors.

“The United Nations launches a grant program that helps repair infrastructure, improves daily life and helps improve economic reforms and revitalize areas that have been damaged,” he said.

(Special Thanks to Loopster for sharing)
______________________________________________________________

World Bank: Iraq is the best place to invest in the world

Read More: http://www.dinarupdates.com/showthread.php?56255-World-Bank-Iraq-is-the-best-place-to-invest-in-the-world
______________________________________________________________

The @IraqiGovt is implementing reforms

Follow us on twitter @DinarUpdates !!

______________________________________________________________

____________________________________________________________

Sources: away from the Kurds National Alliance and the Union of forces agree to pass the budget

Image result for picture of Kurdish National Alliance

Read more: http://www.dinarupdates.com/blog/
____________________________________________________________

Former minister: $ 500 billion will return to the state by applying the law “Where do you get this”

The House of Representatives on Saturday, during the session of the House of Representatives first reading of the proposed law on graft “Where you get this.”

“Former Minister of Water Resources Mohsen al-Shammari, it is likely to recover 500 billion dollars to the state treasury if the law applies” Where do you get this? “…

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

BGG ~ 500 Billion USD is an awful lot of money… especially when you consider Iraq is only asking for 100 Billion for their COMPLETE rebuilding process.

This is the size and scope of their corruption problem. This bill will be a problem. Everyone voting on it is crooked. Kinda’ like trying to get term limits passed here.

____________________________________________________________

Masoum stresses Iraq's urgent need for a solid and open economy

Masoum stresses Iraq’s urgent need for a solid and open economy

{Baghdad: Al-Furat News} President Fuad Masum, stressed the urgent need of Iraq to build a solid economy.

Read More: http://www.dinarupdates.com/blog/
____________________________________________________________

Special for change .. Abadi of parliament: the international community will not help Iraq if the budget is not approved

Quoting the channel of change .. Abadi of parliament: the international community will not help Iraq if the budget is not approved

Altahreernews.com

BGG ~ Oh wow. We’ll this pretty much spells it out. However, keep in mind – this is likely Abadi talking TO his Parliament, urging them to adopt their budget.

When I initially started down this line of reasoning, I had no idea international sentiment was as tough as it appears to be. WOW!!

The UN, IMF and WB all appear to want to support Iraq in the worst way – but it also very much appears there are results that are yet required.

P.S. This might also explain this very direct, “hands on” push by Abadi to get the budget done.

We wait and watch.

____________________________________________________________

Al-Alusi: Donor countries will not pay one dirham to a corrupt government

Special Mawazine News – Parliamentarian Mithal al-Alusi said on Tuesday that donor countries would not pay one dirham to a government accused of corruption.

“The donor countries can not be assured of their support at the donor conference to be held in Kuwait next month,” Alusi told Mawazine News.

“Those countries will not give Iraq a single dirham, because the government and the conservatives are accused of corruption,” he said.

“The states have informed the Iraqi government and politicians (we will not give you money because you are not trustworthy),” Alusi said.

The government has earlier announced efforts to coordinate with the Kuwaiti government to invite more than 70 countries to the donors conference scheduled to be held in Kuwait in February.

Source

Paul Moseley – “BGG YOU HIT THE NAIL ON THE HEAD”!!

BGG ~ Another accurate portrayal in the news. That is all. Thank you though 🙂

I have been talking the last however long about what Abadi needs to do along the lines of a real fight against corruption and why. Then I came out and did a fairly long dissertation on the matter. Some people didn’t like what I had to say… I only call it the way I see it.

Then this came out today…

…”Those countries will not give Iraq a single dirham, because the government and the conservatives are accused of corruption,” he said…

This might explain the less-than-luke-warm response Abadi got while at Davos.

____________________________________________________________

Abadi’s war against corruption must begin with Maliki and his henchmen

Corruption in Iraq has caused severe poverty in Iraq, which led to civil and sectarian strife that caused the extreme damages to the country’s infrastructure.

Shia parties lead corruption…

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

______________________________________________________________

Post RV Checklist (it’s getting to be that time!! Listen up!!)

Dos and Don’ts of Windfall Wealth:

Treat it like a PowerBall win

– Tell no one, not even family. If you must talk, do so with one who is already in the know.

– Don’t run out & buy new “stuff”. People notice.

– Get an unpublished number and give it out very sparingly.

– Get a tax accountant you can trust to make sure the IRS is satisfied (Certified Opinion is something to look into) and pursue asset protection…

If you found this blog, our website or chats helpful – Forward it to a friend!! We couldn’t do it without you!! Thanks – BGG!!

www.DinarUpdates.com

DINAR OBSERVER DAILY – Feb. 14th

Posted on February 14, 2018 by The Dinar Observer

Iraq is ready to reform the financial and economic sectors

Economy News Baghdad: UN Secretary-General Antonio Guterich said Iraq was ready to reform the financial and economic sectors.

“The United Nations launches a grant program that helps repair infrastructure, improves daily life and helps improve economic reforms and revitalize areas that have been damaged,” he said.

(Special Thanks to Loopster for sharing research)
______________________________________________________________

Central Bank of Iraq Auctions $182,320,645 on 14 February 2018

Baghdad (IraqiNews.com) The Central Bank of Iraq (CBI) currency auction on February 14 registered $182,320,645 in sales, a -5.98% volume decline from the US $193,912,578 sold by Iraqi Dinar, credit and transfer at the previous auction held on February 13.

The latest auction was attended by 45 banks and 9 remittance companies. The same institutions attended the auction held on February 14 compared to the previous auction.

Data for the February 14 auction was made public by CBI Announcement Number 3635.

____________________________________________________________

World Bank: Iraq is the best place to invest in the world

Read More: http://www.dinarupdates.com/showthread.php?56255-World-Bank-Iraq-is-the-best-place-to-invest-in-the-world
____________________________________________________________

The @IraqiGovt is implementing reforms

Follow us on twitter @DinarUpdates !!

____________________________________________________________

Sources: away from the Kurds National Alliance and the Union of forces agree to pass the budget

Image result for picture of Kurdish National Alliance

Read more: http://www.dinarupdates.com/blog/
____________________________________________________________

Former minister: $ 500 billion will return to the state by applying the law “Where do you get this”

The House of Representatives on Saturday, during the session of the House of Representatives first reading of the proposed law on graft “Where you get this.”

“Former Minister of Water Resources Mohsen al-Shammari, it is likely to recover 500 billion dollars to the state treasury if the law applies” Where do you get this? “…

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

BGG ~ 500 Billion USD is an awful lot of money… especially when you consider Iraq is only asking for 100 Billion for their COMPLETE rebuilding process.

This is the size and scope of their corruption problem. This bill will be a problem. Everyone voting on it is crooked. Kinda’ like trying to get term limits passed here.

____________________________________________________________

Masoum stresses Iraq's urgent need for a solid and open economy

Masoum stresses Iraq’s urgent need for a solid and open economy

{Baghdad: Al-Furat News} President Fuad Masum, stressed the urgent need of Iraq to build a solid economy.

Read More: http://www.dinarupdates.com/blog/
____________________________________________________________

Special for change .. Abadi of parliament: the international community will not help Iraq if the budget is not approved

Quoting the channel of change .. Abadi of parliament: the international community will not help Iraq if the budget is not approved

Altahreernews.com

BGG ~ Oh wow. We’ll this pretty much spells it out. However, keep in mind – this is likely Abadi talking TO his Parliament, urging them to adopt their budget.

When I initially started down this line of reasoning, I had no idea international sentiment was as tough as it appears to be. WOW!!

The UN, IMF and WB all appear to want to support Iraq in the worst way – but it also very much appears there are results that are yet required.

P.S. This might also explain this very direct, “hands on” push by Abadi to get the budget done.

We wait and watch.

____________________________________________________________

Al-Alusi: Donor countries will not pay one dirham to a corrupt government

Special Mawazine News – Parliamentarian Mithal al-Alusi said on Tuesday that donor countries would not pay one dirham to a government accused of corruption.

“The donor countries can not be assured of their support at the donor conference to be held in Kuwait next month,” Alusi told Mawazine News.

“Those countries will not give Iraq a single dirham, because the government and the conservatives are accused of corruption,” he said.

“The states have informed the Iraqi government and politicians (we will not give you money because you are not trustworthy),” Alusi said.

The government has earlier announced efforts to coordinate with the Kuwaiti government to invite more than 70 countries to the donors conference scheduled to be held in Kuwait in February.

Source

Paul Moseley – “BGG YOU HIT THE NAIL ON THE HEAD”!!

BGG ~ Another accurate portrayal in the news. That is all. Thank you though 🙂

I have been talking the last however long about what Abadi needs to do along the lines of a real fight against corruption and why. Then I came out and did a fairly long dissertation on the matter. Some people didn’t like what I had to say… I only call it the way I see it.

Then this came out today…

…”Those countries will not give Iraq a single dirham, because the government and the conservatives are accused of corruption,” he said…

This might explain the less-than-luke-warm response Abadi got while at Davos.

____________________________________________________________

Abadi’s war against corruption must begin with Maliki and his henchmen

Corruption in Iraq has caused severe poverty in Iraq, which led to civil and sectarian strife that caused the extreme damages to the country’s infrastructure.

Shia parties lead corruption…

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

______________________________________________________________

Post RV Checklist (it’s getting to be that time!! Listen up!!)

Dos and Don’ts of Windfall Wealth:

Treat it like a PowerBall win

– Tell no one, not even family. If you must talk, do so with one who is already in the know.

– Don’t run out & buy new “stuff”. People notice.

– Get an unpublished number and give it out very sparingly.

– Get a tax accountant you can trust to make sure the IRS is satisfied (Certified Opinion is something to look into) and pursue asset protection…

If you found this blog, our website or chats helpful – Forward it to a friend!! We couldn’t do it without you!! Thanks – BGG!!

www.DinarUpdates.com

DINAR OBSERVER DAILY – Feb. 13th

Posted on February 13, 2018 by The Dinar Observer

World Bank: Iraq is the best place to invest in the world

Read More: http://www.dinarupdates.com/showthread.php?56255-World-Bank-Iraq-is-the-best-place-to-invest-in-the-world
______________________________________________________________

Central Bank of Iraq Auctions $193,912,578 on 13 February 2018

Baghdad (IraqiNews.com) The Central Bank of Iraq (CBI) currency auction on February 13 registered $193,912,578 in sales, a -1.82% volume decline from the US $197,498,160 sold by Iraqi Dinar, credit and transfer at the previous auction held on February 12.

The latest auction was attended by 45 banks and 9 remittance companies. The same institutions attended the auction held on February 13 compared to the previous auction.

Data for the February 13 auction was made public by CBI Announcement Number 3634.

Dollar sales in the in the period January 1, 2018 to February 13, 2018 saw an increase of -1% compared to the sales of US $4.62 billion in the same period in 2017. The total amount of US currency sold by CBI in the calendar year 2017 was US $15.7 billion.

Read More: http://www.dinarupdates.com/showthread.php?56257-Central-Bank-of-Iraq-Auctions-193-912-578-on-13-February-2018&p=181210#post181210
____________________________________________________________

The @IraqiGovt is implementing reforms

Follow us on twitter @DinarUpdates !!

____________________________________________________________

Tilerson begins a regional tour of Iraq reconstruction conference

US Secretary of State Rex Tilerson will start a tour of the Middle East as part of the reconstruction of Iraq’s reconstruction conference, which will start in Turkey and will include Lebanon, Jordan, Egypt and a Gulf state.

US Ambassador to Kuwait Laurence Silverman revealed the participation of his country’s foreign minister, Rex Talerson, at the Iraq reconstruction conference, to be launched on February 12, which will be preceded by the ministerial meeting of 74 countries to combat terrorism.

The official opening of the conference will be on February 14 in the presence of the Kuwaiti Emir and Prime Minister Haider al-Abadi.

“Secretary of State Rex Tillerson will leave early next week for a tour of the Iraq reconstruction conference, which will be hosted by Kuwait and will cover regional capitals,” the State Department said.

The Turkish daily Yeni Shafak said that “next Tuesday, US Secretary of State Rex Talerson will visit Ankara and will be preceded by his national security adviser Herbert McMaster.”

“The US State Department confirmed that” Telersson will participate in the Kuwait Conference, which starts on Monday and will last for two days and ends Wednesday, without revealing the remaining stations of his tour. ”

Al-Hayat newspaper quoted Western diplomatic sources as saying that he expected to visit Cairo, Amman and Beirut in the same round, noting that the dates and procedures of the visit are still under preparation. Beirut will be the first minister in the Trump administration.

Read more: http://www.dinarupdates.com/blog/
____________________________________________________________

____________________________________________________________

Sources: away from the Kurds National Alliance and the Union of forces agree to pass the budget

Image result for picture of Kurdish National Alliance

Read more: http://www.dinarupdates.com/blog/
____________________________________________________________

Former minister: $ 500 billion will return to the state by applying the law “Where do you get this”

The House of Representatives on Saturday, during the session of the House of Representatives first reading of the proposed law on graft “Where you get this.”

“Former Minister of Water Resources Mohsen al-Shammari, it is likely to recover 500 billion dollars to the state treasury if the law applies” Where do you get this? “…

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

BGG ~ 500 Billion USD is an awful lot of money… especially when you consider Iraq is only asking for 100 Billion for their COMPLETE rebuilding process.

This is the size and scope of their corruption problem. This bill will be a problem. Everyone voting on it is crooked. Kinda’ like trying to get term limits passed here.

____________________________________________________________

Masoum stresses Iraq's urgent need for a solid and open economy

Masoum stresses Iraq’s urgent need for a solid and open economy

{Baghdad: Al-Furat News} President Fuad Masum, stressed the urgent need of Iraq to build a solid economy.

Read More: http://www.dinarupdates.com/blog/
____________________________________________________________

Special for change .. Abadi of parliament: the international community will not help Iraq if the budget is not approved

Quoting the channel of change .. Abadi of parliament: the international community will not help Iraq if the budget is not approved

Altahreernews.com

BGG ~ Oh wow. We’ll this pretty much spells it out. However, keep in mind – this is likely Abadi talking TO his Parliament, urging them to adopt their budget.

When I initially started down this line of reasoning, I had no idea international sentiment was as tough as it appears to be. WOW!!

The UN, IMF and WB all appear to want to support Iraq in the worst way – but it also very much appears there are results that are yet required.

P.S. This might also explain this very direct, “hands on” push by Abadi to get the budget done.

We wait and watch.

____________________________________________________________

Al-Alusi: Donor countries will not pay one dirham to a corrupt government

Special Mawazine News – Parliamentarian Mithal al-Alusi said on Tuesday that donor countries would not pay one dirham to a government accused of corruption.

“The donor countries can not be assured of their support at the donor conference to be held in Kuwait next month,” Alusi told Mawazine News.

“Those countries will not give Iraq a single dirham, because the government and the conservatives are accused of corruption,” he said.

“The states have informed the Iraqi government and politicians (we will not give you money because you are not trustworthy),” Alusi said.

The government has earlier announced efforts to coordinate with the Kuwaiti government to invite more than 70 countries to the donors conference scheduled to be held in Kuwait in February.

Source

Paul Moseley – “BGG YOU HIT THE NAIL ON THE HEAD”!!

BGG ~ Another accurate portrayal in the news. That is all. Thank you though 🙂

I have been talking the last however long about what Abadi needs to do along the lines of a real fight against corruption and why. Then I came out and did a fairly long dissertation on the matter. Some people didn’t like what I had to say… I only call it the way I see it.

Then this came out today…

…”Those countries will not give Iraq a single dirham, because the government and the conservatives are accused of corruption,” he said…

This might explain the less-than-luke-warm response Abadi got while at Davos.

____________________________________________________________

Abadi’s war against corruption must begin with Maliki and his henchmen

Corruption in Iraq has caused severe poverty in Iraq, which led to civil and sectarian strife that caused the extreme damages to the country’s infrastructure.

Shia parties lead corruption…

Read More: http://www.dinarupdates.com/blog/
_____________________________________________________________

Breitling (Dinar Guru) – …If they can’t get it ladies and gentlemen, you’ll see this thing revalue overnight because they don’t have any other options. If they get the $100 billion they’ll still revalue their currency but it’s going to be a different revaluation…the way they stage it. It’s not going away so don’t panic… They need to see if they can get the $100 billion dollars. They need to see how low the oil prices are going to drop. There is no “weeks” or special language you need to know. They don’t even know…they don’t know what’s going to happen in the markets… [Post 2 of 2]
____________________________________________________________

mike (Dinar Guru) – Article: “The House of Representatives ends the first reading of the federal budget” Quote: “The Board completed the first reading of the draft law on the federal budget for the year 2018 for approval, after which decided to resume the session on Wednesday.” Good stuff, on to the second reading.
____________________________________________________________

Breitling (Dinar Guru) – If you look at Iraq…remember they keep the value of the currency where it’s at. It’s one of the most manipulated currencies on the planet. They’re trying to build their infrastructure cheap. At the same time they’re trying to build up their production of oil…there’s 100 Billion dollars worth of infrastructure they have to rebuild…Iraq sees they need to raise 100 Billion dollars…it’s a test. They want to see if they can get it. [Post 1 of 2]
_____________________________________________________________

BGG ~ When I first started hearing these reports out of Baghdad about this grand “war on corruption” Abadi has planned I was hopeful. I still am. However, there is much to consider. Far more than meets the eye.

This push has been going on since before the end of the fight for Mosul. Abadi started laying out his agenda then. However, one article from last week caused me a little concern, it mentioned Abadi might wait until after the elections to go after “the whales of corruption” (or something along those lines) so it didn’t look like he was doing it for “electoral purposes”. This troubles me some. It seems like a tidy excuse.

The opinion article we lead with today somewhat seeks to goad him into this fight. It might even be hitting on a key point – “Is this all for show”? As in, “election cycle propaganda”. One question I have long had is, “why has it taken this long”? This is a fair point, I think. If Maliki is as corrupt as he is rumored to be, evidence cannot be in short supply…

Read More: http://www.dinarupdates.com/blog/
_____________________________________________________________

Chattels (Dinar Guru) – Article: “The Central Bank of Iraq, announced its investment in the Chinese currency [Yuan].” Quote: “The bank is keen to diversify its foreign reserves and diversify the basket of currencies in the investment portfolios, as well as the geographical distribution of the investments of this bank.” The Central Bank of Iraq, announced its investment in the Chinese currency [Yuan].
_____________________________________________________________

Kaperoni (Dinar Guru) – Article: “Washington and Baghdad have a common political and SBI establishes economic interests” Quote: “The meeting also emphasized the importance of the US-Iraqi economic relations and attracting foreign investment to Iraq and create new jobs.” Here is a great example of Iraq asking for something that they are not ready for. They need to get the banking system engaged with the world and get investors participating in the reconstruction. Then and only then will these agreements succeed.
_____________________________________________________________

Delta (Dinar Guru) – …ONE OF IRAQI CHANNEL ON THE TICKER THEY SAID THAT CBI STRATGEY ON DINAR EXTERNAL EXCHANGE RATE IT WILL 1-1…WOW. WE WILL SEE WHAT NEXT WEEK BRING US…

Be very cautious of this information…
_____________________________________________________________

Abadi: They are on the process of rising the Iraqi economy and create jobs

Baghdad / Sky Press – Prime Minister Dr. Haidar al-Abadi said on his Facebook page, “They are coming to a process of rising the Iraqi economy and creating job opportunities.” He stressed that Iraq has become a great success story during a meeting in Davos with heads of the world’s largest investment companies and major investors in various fields to rally support for Iraq. Before the reconstruction conference in Kuwait.

A statement issued by the Prime Minister’s Office of Information, received by “Sky Press” today, that Abadi, during a meeting with the heads of the largest international investment companies and senior investors on the sidelines of the Forum “Davos” economic, Iraq’s vision for the future to develop all sectors and opportunities for large investment after the victory on the daisy, Indicating the importance of focusing on the reconstruction and stability of Iraq.

He explained that “Iraq has become a great success story achieved thanks to the unity of Iraqis, and we are on the way to the process of rising in the Iraqi economy and create jobs.”

Abadi arrived in Switzerland yesterday to participate in the economic forum “Davos” and to mobilize support for Iraq ahead of the reconstruction conference in Kuwait.

Source Link

BGG ~ FYI – Abadi has been the best thing that’s happened to Iraq in the last 2 decades. Is he perfect? No. Are they on track? More than you know. So relax.

From a different translation (same article)… Abadi: “…we are in the process of raising the Iraqi economy and create(ing) jobs…”

What exactly is this process he is speaking of? Does it include monetary and currency reform? I don’t see how it cannot – especially with the clear re-engagement of Iraq with the world markets.

With any luck Abadi will get a lot of credit for their peace and prosperity – Maliki and Barzani will get shut out on May 12th.

_____________________________________________________________

Breitling (Dinar Guru) – …Look what’s coming up in taxes…you are going to make more money off the dinar at whatever it revalues at because of the way the taxes are set up…you get the benefits that much more. It’s a remarkable thing. [Consult your financial and tax professional at the appropriate time.]
_____________________________________________________________

Arthur (Dinar Guru) – …Everyone wondering what the hold up could be… GOI + HCL = RV. The Government of Iraq (GOI) needs an official Hydrocarbon Law ( HCL) in the official Gazette. Abadi has established a 5% reduction for the Kurdish region. Only now have the Kurds finally agreed to this stipulation with future secret guarantees I am not at liberty to divulge. Leading up to mid February all will start to come into focus. Just remember: HCL = Having Liqiuid Currency.

BGG ~ I do not agree with ANY of this commentary…
_____________________________________________________________

Mnt Goat (Dinar Guru) – …with my contact in the Central Bank. Q: Doesn’t at some point the increase in value of the Iraqi dinar have to show up on the foreign exchanges (i.e. FOREX) in order to use the dinar internationally? A: Yes, you are correct. I believe this also is moving forward and there is a plan to implement this measure very soon. Some day soon it will just appear as there is a date already set for this measure to occur.
_____________________________________________________________

Follow us on twitter @DinarUpdates !!

Dinar Updates – BGG & the NEWS
Jan 2oth – Rec. Dinar News Call
641-715-3639 pin #932875

01/20- Recorded Call Replay Link

_____________________________________________________________

Mnt Goat (Dinar Guru) – …we know the 2018 elections are forthcoming, probably in May. These always impact the political situation and so I believe this year will be no different. We are also still waiting to see Article 140 law in parliament and to get this law passed and enacted. This is a huge contention for the KRG. I feel this would resolve a lot of the conflict with GOI. It could solve much of their differences. Could the USA reject the argument that Iraq is ready to re-instate their currency because of this Article 140 issue? Well…I know the US govt agreed already to let the RV go almost three weeks ago.
_____________________________________________________________

G-Lin (Dinar Guru) – Article: “War: parliamentarians ‘ Union Act new authority to defend the House budget will cost burden” Quote: “Tariq Harb, jurist count Tuesday, approving House Parliamentarians Union law as creating new power system supervision and its mission to defend the rights of Parliament, while noting that the law governing Council members through subsequent parliamentary sessions, assured it would cost almoazanh New burdens.” This looks like that protection law for the evil doers. I think it may give them permanent immunity. However, this may not effect ICC. Not sure. I wouldn’t think there would be any protection from International Courts. BTW Tariq Harb is Maliki’s personal legal council.
_____________________________________________________________

_____________________________________________________________

Aggiedad77 (Dinar Guru) – NEWS ARTICLES…NEWS PICTURES…PHOTOS OF CURRENCY…NATIONAL BONDS…THE CBI IS LEAKING AGAIN…IMO…JUST A MATTER OF TIME BEFORE THEY TRIP UP AND RELEASE THE ARTICLES WE SEEK…ARE THEY FLOATING SOMEWHERE TO BE FOUND…
_____________________________________________________________

Visit of the Governor of the Central Bank of Iraq Branch Basra

In his visit to the branch of Basra: Governor of the Central Bank confirms the continued support of the banking sector in all of Iraq

The Governor of the Central Bank of Iraq, Mr. Ali Mohsen Ismail visited with a delegation of advanced leaders in this bank branch of the Central Bank in the province of Basra, and the delegation was keen to meet the staff of the branch and discuss the most important organizational matters in the work of the branch.

The Governor praised the work of the branch staff, stressing that the Iraqi Central Bank support the banking sector working in Iraq.

BGG ~ I am a little curious as to what the bill is that is pictured in this last shot? I have looked around some and can’t seem to come up with an ID on it.

(Update: according to Yahoo images, the note in question appears to be a 1947 10 Dinar note with King Faisal II on it. Probably some commemorative ceremony. Still interesting.)

_____________________________________________________________

Kaperoni (Dinar Guru) – Article: “Officially .. the end of the “Daesh” militarily in Iraq” Quote: “Announced the Iraqi Interior Minister Qasim al-Araji, on Friday, the end of the terrorist organization Daesh militarily in Iraq, after the liberation of the city of Rawah, western Anbar province from the grip of the entire organization.” This is big news. The Iraqi gov can now move forward with the economy.
_____________________________________________________________

tman23 (Dinar Guru) – […is it your opinion that RV will NOT happen until KRG and GOI issues have been resolved?] YES IMO…THERE MUST BE AN AGREEMENT TO BE UNDER FEDERAL CONTROL…The CBI needs the GOI to control and enforce certain laws and the Kurd region is just as corrupt as anywhere in Iraq...

Montana always claimed a HCL agreement must come first…What Abadi is proposing is signature to just that…BUT not so easy…remember the Kurds got 3 billion from Russia state oil company to prepay for oil…and there are a lot of these deals…this thing gets real messy…so Federal Control is most logical…

BGG ~ “…THERE MUST BE AN AGREEMENT TO BE UNDER…” Really?!? I think not.

_____________________________________________________________

Ten conditions in front of Barzani for the settlement of things

Baghdad News – The federal government committed the delegation of the Kurdistan region, which came to Baghdad on Saturday under the chairmanship of the President of the region, Nigervan Barzani, ten conditions for the settlement of things between Baghdad and the region…

Read More: http://www.dinarupdates.com/blog/
_____________________________________________________________

Chattels (Dinar Guru) – Articles: “Know the strategy of Maliki’s coalition to achieve the political majority in the next session” “Rivals may team up to defeat Iraqi Prime Minister Abadi” Another reason that a political alliance between Maliki and Barzani is dubious is that if the “possibility for an alliance with all political parties, including Barzani’s [KDP], …” depends upon a commitment to “the [will of the] political majority.”, I doubt that the Kurds can / will so commit. The Kurds and other minorities value and depend upon the doctrine of consensus in government / legislation. Otherwise minorities will ultimately be overwhelmed by the Shia political majority, IMO.
_____________________________________________________________

Kaperoni (Dinar Guru) – Article: “Strengthen international confidence in Iraq’s economic capabilities” IMO, there is no external confidence in Iraq’s banking system until the CBI is in Article VIII and dinar transactions are accepted worldwide through the global banking system. They can talk about all they want, but I don’t think investors will come if they cannot get there profits out of Iraq. Iraq needs to understand this and begin currency reform.
_____________________________________________________________

Follow us on twitter @DinarUpdates !!

Dinar Updates – BGG & the NEWS
Jan 2oth – Rec. Dinar News Call
641-715-3639 pin #932875

01/20- Recorded Call Replay Link

_____________________________________________________________

G-Lin (Dinar Guru) -/span> Article: “Central Bank reserve adequacy ratio financial Iraq reached 160 percent.” Quote: “The governor of the Central Bank of Iraq Ali Alalak revealed, on Tuesday (December 26, 2017), that the bank reserves of foreign currency of 48 billion dollars, noting that Iraq will not resort to floating the currency.“ Looks like IMF is happy and once again they do not want to float the currency. That’s o.k. by me.
_____________________________________________________________

Kaperoni (Dinar Guru) – Article: “Alaq announces the opening of a new branch of the central bank in Najaf ” Quote: “The governor of the Central Bank of Iraq Ali Alalak revealed, on Tuesday (December 26, 2017), that the bank reserves of foreign currency of 48 billion dollars, pointing out that Iraq will not resort to floating the currency.” Until they get in compliance with the IMF and reduce the spread to 2% or less, I would assume any such discussion is a “stable dinar”. Eventually they will have to float to compensate for the pressure created by the influx of investment capital.
_____________________________________________________________

Abadi directs a message to the Saudi king: This is what we need from you

The Ministry of Planning said Thursday that Prime Minister Haider Abadi sent a letter to King Salman bin Abdul Aziz.

Saudi King Salman bin Abdul Aziz received today Minister of Planning Salman Jumaili, who handed over to the Saudi king a written message from Prime Minister Haider al-Abbadi, during which he stressed the depth of brotherly relations between the two countries.

In his message to Saudi King, Abadi called on the Kingdom to support Iraq in the reconstruction of the liberated areas and achieve development, as Iraq needs about 100 billion dollars, and expressed the hope that the Saudi participation in the Kuwait Conference of donor countries, which will be held from 14-16 February next Size and strength of brotherly relations between the two countries, according to the statement.

For his part, King Salman stressed the Kingdom’s readiness to provide all kinds of support to Iraq and its help in reconstruction and reconstruction during the coming period. He called for redoubling joint efforts between the two countries to compensate missed opportunities and start a new phase that would make Iraq a model in sound development.

Read more: http://www.dinarupdates.com/blog/
_____________________________________________________________

Kaperoni (Dinar Guru) – Article: “The House of Representatives is preparing to vote on a bill to create a “new Parliamentary Union” Quote: “Parliamentary sources revealed, for parliamentary efforts to enact a new law that includes the establishment of a new Parliamentary Union…” Any law must be approved by the Council of Ministers or the President prior to going to parliament for reading. Unlikely such a law would make it past that step. [reference Gurus mike and G-Lin posts 1-19-2018 below]
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mike (Dinar Guru) – Article: “The House of Representatives is preparing to vote on a bill to create a “new Parliamentary Union” Quote: “…seeks to defend the moral and material rights of members, reveals that this law opens a big door to protect any of the defendants in corruption cases and the form of legal stipulated in the Official Gazette, as well as for the protection of the rights of members mentioned and defend them if exposed…” Apparently Abadi’s threats of going after those who are corrupt are spooking these guys, they’re trying to pass a law that protects the “rights” of those accused. This is why things are moving so slowly in Iraq, the ruling elite are the most corrupt and now they’re trying to legislate corruption…
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Follow us on twitter @DinarUpdates !!

Dinar Updates – Q & A Call – with BGG Dec 27th – 8:00 pm Conference Call Phone # 641-715-3640 pin #932875

12/27 – Recorded Call Replay Link

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Adam Montana (Dinar Guru) – I’m pretty sure we can all agree that we don’t expect Iraq to give us a warning that they will raise the value of their currency. This is just something we expect to see happen, based on their progress with Government, Banking, Stability, and Political situations. Since we don’t expect them to give us a “heads up”, it should be easy to understand that a major change in the value of the IQD would happen when the world is distracted… like, by a bloodbath in one of the hottest topics on the planet right now? In case you live under a rock, I’ll explain – the cryptosphere is currently in meltdown mode. “Huge losses”, “Major crash”, “The End Of It All”! That’s what the media is screaming right now… and nobody is even paying attention to Iraq. [post 1 of 2….stay tuned]
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Adam Montana (Dinar Guru) – I’ll remind you that Iraq has a major share of one of the WORLD’s most valuable resources. They aren’t heavy into technology, but they are advanced enough that major international banking can be turned on with the flip of a switch. Over the last year, we’ve seen key institutions and organizations mention that Iraq is welcome to join the big boys…if they want. We’ve waited for them to do so, and IMO the key to this all is still the HCL. Could this media-crypto-frenzy be a perfect time to slip some action in while heads are turned? We will see. [post 2 of 2]
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World Bank: More than 600,000 employees in public companies are redundant

The World Bank announced that more than 600 thousand employees working in public companies surplus, stressing the need for partnership between the public and private sectors, describing the Iraqi economy as “central.”

The World Bank representative, Yara Salem, said in a research paper presented during her participation in the third series of workshops organized in partnership between the Baghdad Economic Forum and the Secretariat General of the Council of Ministers, reviewed by the “Economy News” that the World Bank emphasizes the importance of partnership between the private sector and the public , Pointing to the challenges facing the role of public companies in the partnership between the public and private sectors.

And signals that the Iraqi economy is a central economy and suffer from public companies in the cost of production is high and surplus in the workforce more than 600 thousand employees, about 60 percent of the surplus, as well as unemployment, which is a major problem in Iraq.

The existence of such proportions of the unemployed was seen as a major obstacle to reform and restructuring.

Read more: http://www.dinarupdates.com/blog/
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The United States will participate with a large delegation at the Kuwait conference for the reconstruction of Iraq

US Ambassador Douglas Seelman said his country will participate in a large delegation at the Kuwait Conference on Iraq Reconstruction scheduled for mid-February.
“The United States will participate with a large delegation at the conference to support the reconstruction of Iraq to be held in Kuwait,” Sileman said in a press statement during his visit to Karbala.

He noted that “this visit is the first of the province of Karbala and the US government looks forward to helping Iraq in the reconstruction after the defeat of ISIS.”
The conference is likely to be held in Kuwait from Feb. 12 to 14, with the participation of countries, organizations and companies.

The government estimated that it needed $ 100 billion to rebuild the devastated areas of the ISIS.

Read more: http://www.dinarupdates.com/blog/
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G-Lin(Dinar Guru) – Article: “Governor of the Central Bank: Iraq’s financial situation continues to improve” …I like this. “the bank’s reserve remains at the level of adequacy and covers the local currency and more.”
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MilitiaMan (Dinar Guru) – Articles: “Haidar financial transactions between the banks of Baghdad and the Kurdistan region have returned to normal” “The MasterCard International has been issued at branches in Amman and Abu Dhabi for Iraqis living there to receive their financial dues,”...” …the timing of the process is well underway to completion.Financial transactions between Baghdad and the Kurdistan region are back to normal. In other words are turned back on. Don’t think for a moment “turned on” takes a lot of time to do so. It is instant now with the new Fintech in Iraq as noted by the CBIs capabilities. [post 1 of 2….stay tuned]
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Guru MilitiaMan (Dinar Guru) – …it is not just in Iraq that is possible, Al-Rafidain is flat out telling us they can do it in Beirut, Amman and Abu Dhabi. They are internationally doing so. That suggests if they can turn on Baghdad and the Kurd’s, then in Beirut, Amman and Abu Dhabi, they can probably pin point anyone they desire and anywhere. Digital is digital and with Block chain being in the loop, it is becoming easier to not only execute transactions, but, can be monitored with precision. Let that sink in with all it’s implications. These two articles may not be the two we look for, but, boy are they full of Stars.. imo. [post 2 of 2]
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Central Bank Governor Ali Al-Alak expressed his optimism on Monday about the country’s financial situation

Central Bank Governor Ali Al-Alak expressed his optimism on Monday about the country’s financial situation, which is improving continuously. “The financial situation in the country has begun to improve markedly because of high oil prices and fiscal discipline of the country, which is better than it was in the past,” he said.

“The state has great opportunities to improve control over government expenditures and increase non-oil revenues. There is still a step the government must take, but the financial commitment and discipline over the past period has been an important reason for the financial situation to be reversed,” he said.

He pointed out that “the position of the Central Bank during that period, which was working side by side with the government in order to overcome the embarrassing period that passed through Iraq.”

He pointed out that “the central bank’s reserves are good and in a state of mobility.” He pointed out that “the focus is on the level of adequacy of the reserve, according to the international standard for the local currency.

Read more: http://www.dinarupdates.com/blog/
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US to participate in Kuwait’s conference for rebuilding Iraq

US Ambassador to Iraq Douglas Silliman has met with Basra governor Assad al-Edani in the governorate, media reports said on Friday.

In a press conference, Silliman confirmed that the US will participate in Kuwait International Conference for Reconstruction of Iraq, slated for February 12-14.

He said that the US will help the Iraqi government in encouraging the global companies to invest in Iraq.

Meanwhile, Edani said that he discussed with Silliman several issues, including the investment and unemployment in the governorate.

During his visit, Silliman will meet several religious minorities to celebrate the International Day of Freedom of worship.

Read more: http://www.dinarupdates.com/blog/
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5.6 quake strikes Iran-Iraq border near Kurdish cities

ERBIL, Kurdistan Region – A 5.6 magnitude earthquake hit Iranian Kurdistan on Thursday near the Iraq border, where infrastructure is already weakened from a recent series of earthquakes and aftershocks.

GEOFON, the Global Seismic Network with seismic waveform monitoring data stations in Europe, the Mediterranean and Indian Ocean regions, had posted initital reports of a 5.5 magnitude earthquake striking at 9:59 a.m. (local time). The German-based research institute later confirmed the strength as 5.6, as well as a series of strong tremors which followed until 12:32 p.m.

Its epicenter was reported as 23 kilometers west of Mandali, a diverse border town in Diyala province that is home to Kurds, Turkmen and Arabs. Mandali is a Kurdistani or disputed area claimed by both Erbil and Baghdad.

Read more: http://www.dinarupdates.com/blog/
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BGG – Article: “How to recognize the counterfeit Iraqi currency” Here are a few obvious points…1) I find it a little curious all this recent “float vs. no-float” talk in the marketplace lately. 2) Dated today, the CBI decides to put a “how to spot fake currency” memo…3) Did anyone happen to notice the last 3 notes? [referencing picture] I had to go back to my currency and dig out these notes to figure out what they were. That is a 1k, a 500 Dinar and a 250 Dinar note. WHY IN THE WORLD WOULD THE CBI BOTHER TELLING ANYONE HOW TO SPOT A FAKE 1K, 500 Dinar and 250 Dinar note?? The 1k is worth less than $1 right now… the 500 is about .50 and the 250 is not even worth a quarter!!
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Adam Montana (Dinar Guru) – Every morning I wake up and think to myself, “Is anything different or concerning about Iraq today?” As of this writing, the answer is NOPE! In fact, there is some positive news about Iraq’s banking industry being accepted and even praised for being top notch. This is imperative for Iraq to move forward with a supported raise in the value of their currency. Another thing I look for is the HCL. Are there any new reports? As of this morning, it’s been 6 months or so since we saw MAJOR movement on the HCL. With that said, it’s pretty easy to understand why we’re seeing such a lull in “things that indicate an RV”… What IS an issue right now is this – WHEN will we see some HCL news? Where is the progress?! Here’s something that’s a bit encouraging: I’m guessing that once that issue is resolved [Kurdish relations], we will see the HCL back on the table, and that’s when the dinar will see some urgency again.
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Abadi is investigating around 125 individuals accused of smuggling money abroad

Baghdad today – MP Jasim al-Bayati, the existence of 125 personalities accused of smuggling money out of the country, noting that Abadi investigated their files with international bodies two years ago.

“Prime Minister Haider al-Abbadi has been investigating with international bodies in bank accounts of 125 Iraqi figures with signs of smuggling money out of Iraq,” al-Bayati, who is close to the prime minister, told Baghdad today.

Al-Bayati added that “international bodies are working to gather information and have a sufficient database of the funds of these officials and inflated their funds in close periods.”

“The prime minister will give the database to the Iraqi Judicial Commission, which he set up for review, audit of funds and names, and external accounts.”

Read More: http://www.dinarupdates.com/showthread.php?55960-Abadi-is-investigating-around-125-individuals-accused-of-smuggling-money-abroad&p=180866#post180866
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MilitiaMan (Dinar Guru) – Articles “Know Your Currency” The article showing security features of their currency at this time frame is if not one of the two articles we seek, it sure is a contender for one of them, imo.! For the 250, 500 and 1,000 note to be openly used by the CBI noted in the article for security features, is for a good reason that we all should see right out the gate…There is no reason to worry about those notes with present 1184 program rate, now add the international calculation into the mix and you have a very valid reason to make people aware for what they have and own… And if one is a veteran in this investment, one better have had that on ones mind a long time ago! imo. It clearly is now (imo) a signal to every one that may own or will be using the new notes we expect in the near (Let’s hope immediate future.) future to be part of the quiver of currencies coming soon not to discard. [post 1 of 2….stay tuned]
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Kaperoni (Dinar Guru) – Articles: “Know your money,” the central bank publishes security tags Iraqi currency” “How to recognize the Iraqi currency counterfeit?” “The central bank reveals security signs Iraqi currency to curb forgery” This is interesting…why now? In all the years I have been watching this I have only seen the CBI talk about note security maybe 2-3 times. In another article, we see the CBI talk about the “next period” going all electronic transactions, yet today they are telling citizens to make sure you are not using counterfeit currency. IMO, since this is all over the local media, it appears to be something almost from the World Bank (like the delete zeros articles were back in 2012) to inform as many as possible. Almost in anticipation of something. Maybe the CBI plans to activate the banking system (deposit insurance,etc) in the next few weeks luring citizens to bring their dinar into the banks. We just have to let it play out and see what happens.
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How to recognize the counterfeit Iraqi currency

[Ayna-Baghdad] The Central Bank of Iraq, issued a design illustration of the Iraqi currency the truth of the counterfeit.

BGG ~ Here are a few obvious points…

1) I find it a little curious all this recent “float vs. no-float” talk in the marketplace lately.

2) Dated today, the CBI decides to put a “how to spot fake currency” memo…

3) Did anyone happen to notice the last 3 notes? I had to go back to my currency and dig out these notes to figure out what they were. That is a 1k, a 500 Dinar and a 250 Dinar note.

WHY IN THE WORLD WOULD THE CBI BOTHER TELLING ANYONE HOW TO SPOT A FAKE 1K, 500 Dinar and 250 Dinar note?? The 1k is worth less than $1 right now… the 500 is about .50 and the 250 is not even worth a quarter!!

Read more: http://www.dinarupdates.com/blog/

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MilitiaMan (Dinar Guru) – Article: “Central: We aim to complete all financial transactions electronically” this is a very powerful… They start talking about sustainable development by using electronic payment systems. They are to be used by both Public and Private entities through Iraq’s Banking System as a whole. They are telling us they have a system that is avoid of complexity issues, which appears to be the diminishing use of cash in Public and Private transactions and apparently large transactions to boot. They also LAUNCH or have launched the system to pay salaries…Which takes away the demand and or need for the use of cash, as much. The system is to be or is now from here on out to be more transparent and secure with out manipulation. A very good thing that fits Abadi’s agenda! imo They go so far as to tell us they are able to do the aforementioned, all over the country now. They are also or the central bank is the guarantor of salaries! All huge indicators developing, if not already developed and being LAUNCHED… imo
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G-Lin (Dinar Guru) – Article: “The President of the Republic, Fuad Masoum, on Thursday, the law of the second amendment to the law of the Central Bank of Iraq.” [...if the CBI law is ratified does that mean it is law or does it have to be posted in the gazette for some time…?] It is now in the Gazette and is law. Quote: “The law was sent for publication in the Official Gazette,” the statement said.”
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Kaperoni (Dinar Guru) – Article: “Businessmen, money, traders, industrialists and bankers calling for new criteria for the classification of banks in Iraq” Deposit insurance and currency reform are a must. Nobody is coming to invest until the CBI does these.
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Adam Montana (Dinar Guru) – Going into 2018, perhaps this is a good opportunity to remind everyone WHY we are interested in the Dinar at all… some…have been here more than a couple years, and the “wait” can be taxing. Iraq has overcome incredible difficulties, rebuilt a decimated region, solidified a government, and STILL has a majority of the available reserves of OIL. That itself should be enough to give us confidence that even though we don’t know *when* the value will go up, it is certainly an undervalued instrument of exchange, and the low price will not stay there forever. Oil is finally on an uptick, which will work in Iraq’s favor. In order to take advantage of that momentum, Iraq will need to get moving on HCL . There is no significant news out on the HCL as I write this today, but this is a matter that WILL come to the table, and when it does… snowball effect. …Going into 2018, I’m excited to see what pops up… either way, I’m happy HODLing my dinar and waiting for some HCL news. It can’t be too far off now!
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An Iraqi bank economy directs its branches to facilitate the issuance of the MasterCard international card to journalists

Al-Rafidain Bank branches in Baghdad and the provinces to facilitate the procedures of granting the MasterCard card International journalists.

The Bank’s Information Office said in a statement to the News Agency that the branches of the bank were instructed to issue the MasterCard card to journalists, pointing out that journalists can go to any branch and bring personal documents to issue the card to them shortly.

Read more: http://www.dinarupdates.com/blog/
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Aggiedad77 (Dinar Guru) – …THE IRAQI BALL IS STARTING TO ROLL RATHER CONSISTENTLY IMO…WHO HAS NOTICED OVER THE PAST 24-36 HOURS THAT ABADI HAS SPOKEN MORE AND MORE AND IT IS AS THOUGH HE IS POINTING TOWARDS A BRIGHT STAR…A STAR THAT LEADS IRAQ…AND IMO IT IS NOT IRAN…THEY HAVE THEIR OWN SELF-MADE TROUBLES…IRAQ IS RISING…ABADI IS WITHSTANDING ALL THE GARBAGE THROWN HIS WAY AND HE WILL LEAD HIS IRAQI CITIZENS INTO A NEW FUTURE…WAIT……WAIT…..WAIT…AS YOU WOULD FOR A FINE WINE…AS YOU WOULD FOR A PEACH TO RIPEN…AS YOU WOULD FOR THE COFFEE BEAN TO BE JUST RIGHT TO BE THE BEST…ABADI KNOWS THE PROCESS, WE MUST NOT HASTEN…INSTEAD PREPARE YOURSELF…
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BGG – There is a lot of news about this major private bank offering major ATM services. This is very interesting. There are lots of people talking about that there are lower denominations, this that and the other thing. We don’t know that. We have no facts to back that up. We have no proof. We’d like to see some proof. I know it as fact that there was an article that kind of alluded to lower denoms but it’s not like that…they talked about the 500 notes and the 1000 notes. I have no idea why they would do that it they didn’t have a value associated with that but they did talk about it and it is in an article…so that is the extent of lower denominations…there is no shred of proof that those ATMs are loaded with lower denoms. When there is proof we will post it but right now there is no proof.
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Rafidain Bank launches an ATM service

Rafidain Bank announced on Friday the launch of the ATM service, which depends on the electronic payment card.

The Bank’s Information Office said in a statement that “the ATM service in force internationally depends on the electronic payment card such as MasterCard and other payment cards that facilitate the citizen to withdraw money in any place where it is.

The statement pointed out that ‘this step comes to reduce the theft of citizens.’

Read more: http://www.dinarupdates.com/blog/
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Mr. White – …He then in turn gave the equivalent amount of IQD to the bank. The bank went to the auction window with CBI. The CBI sold dollars and the dollars were returned to the merchant. The CBI turned around and sold IQD to the Government of Iraq, they had US dollars because they sold oil and it was this circle…the corruption just kept getting bigger and bigger. But now for the first time in 14 years…Never never have they talked about ending the auctions… [Post 2 of 3 All of this pertains to Guru BGG’s “cataclysmic” post below…]
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The Central Bank cancels letters of guarantee to exchange companies

Economy News Baghdad: The Central Bank of Iraq, the companies to mediate the sale and purchase of foreign currency need to deposit 100 million dinars instead of the letter of guarantee in its dealings with the Central Bank.

According to a document issued by the Central Bank and obtained by “Economy News”, “The Central Bank decided on the basis of the decision of the Board of Directors of exchange companies to deposit a hundred million dinars in the insurance account with the Central Bank instead of providing letters of guarantee.”

“The payment will be by notice of the payment system ( RTGS) of the same amount from the bank account with which these companies are working for the central bank,” the document said.

The document stated that the decision obligates the companies to complete this decision, ie the deposit of 100 million dinars at the end of January.

Read more: http://www.dinarupdates.com/blog/
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Mr. White – …The auctions have been like the IV stuck inside the arm of the patient lying in bed since 2003. Now they’re going to pull that IV out. How in the world can they do that? Unless that patient of Iraq can bring this stuff in…Do international commerce with something other than the auctions. And the auctions only do one thing…puts dollars back into the street. Back into the merchant. Back into the banks. Now they’re going to stop it. I am excited about this. I’ve been sitting on this stuff for the past 2, 3 or four months satisfied because I know what’s happening and now this… [Post 3 of 3 All of this pertains to Guru BGG’s “cataclysmic” post below…]
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BGG – There is a ton of news…the news for the last 3 or 4 weeks has been absolutely spectacular…It is just huge. There’s 3 main veins of news lately. 1. It’s about the Kurdish situation. The whole thing seems to be coming to a head both politically, international pressure wise on the ground…i doubt this goes on much longer…and that’s going to be good for everybody. 2. Investment and economic climate in Iraq. this is the Key and is really really good stuff. We are getting this in waves lately and we’re getting avalanched with this stuff. I’ve never seen this before. It’s very exciting for the future of Iraq. 3. Fight against corruption. There seems to be a very direct, immediate and through push to deal with their corruption issues. Huge amounts of progress lately. There is lots yet to be done but this is good news…
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Iraq once again Controls own Economy, Free of UN Sanctions

By Adnan Abu Zeed for Al Monitor. Any opinions expressed here are those of the author and do not necessarily reflect the views of Iraq Business News.

The United Nations Security Council (UNSC) has agreed to lift sanctions imposed on Iraq when the country invaded Kuwait 27 years ago.

The Iraqi Foreign Ministry said Dec. 9 the country had completed its obligations under the sanctions, which were imposed in 1990 when dictator Saddam Hussein invaded Kuwait. The UNSC levied the penalties after naming Iraq a threat to international security and ordered it to pay reparations to states and other parties that suffered as a result of the invasion.

Some 27 years later, Iraq is still suffering the effects of the invasion. Hisham al-Rukabi, the head of Vice President Nouri al-Maliki’s press office, told Al-Monitor that the Iraqi people welcomed the recent UN decision.

Saad al-Hadithi, the spokesman for Prime Minister Haider al-Abadi, said the move is “an important event in Iraq’s recent history and the closing of a painful [age] that lasted a long time, during which the Iraqi people suffered reduced sovereignty as well as political and economic sanctions that damaged the country’s institutions as well as individuals.”

Read more: http://www.dinarupdates.com/blog/
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Randy Koonce (Dinar Guru) – One more update to all citizens of Dinar Land. And it is my deepest hope – this will be the last one. It really should be The Last One. If you have been keeping up with posts from other renowned Dinar Land Gurus (which everyone does!!) you should know that the news from Iraq right now is Phenomenal. Stupendous. Amazing…For what it may be worth to you, I wanted to let you know that my sources are echoing very positive news along with everyone else. It looks like the window for a rate change should be wide open during the 1st two weeks of January. And, that might even include this weekend. Maybe…However – everyone who has been in this for a while knows the Dinar Land mantra: It’s Iraq!!! [Post 1 of 2]

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Mr. White (Dinar Guru) – …I think there is something within the last couple days that speaks volumes as to what’s coming down the road…there is something that came out in the news…that has not been spoken about at all since 2003. In 2003 the provisional government set up the auction as we know it today for the purpose of giving the government of Iraq as well as it’s economy [the ability] to import goods from the outside. And the way they did that was they had to pay for goods with U.S. Dollars to bring this stuff in. When a merchant paid in US dollars, say $500,000 to import rice or sugar, that guy went to the bank immediately and said I just used $500,000 of my US dollars I want it returned to me… [Post 1 of 3 All of this pertains to Guru BGG’s “cataclysmic” post below…]
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BGG (Dinar Guru) – This is the #1 piece of information being overlooked right now. When they stop those auctions and they don’t say particularly when they’re going to do it next year. I’d assume it happens fairly early in the new year…right after the first of the year. Something cataclysmic is going to happen. I’d assume they have some sort of a plan for that… [Stay tuned for Guru Mr. White’s explanation of what the auctions are, why they’re so significant and what had Guru Mr. White so excited…]
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Rafidain Bank launches an electronic ATM service

Al-Rafidain Bank announced on Wednesday the launch of the ATM service in Iraq through the adoption of electronic payment card (master card and other payment card) held by the citizen to withdraw his money in any place.

The bank’s information office said in a statement, “The opening of the international electronic bank service center to provide excellent banking services for citizens and employees for the purpose of withdrawing funds when needed.

“This step also limits the risk that various segments of citizens will be exposed to theft because the money they carry through this card will not be visible,” the office said.

Read more: http://www.dinarupdates.com/blog/

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Iraq reveals its reserves of hard currency

Iraq’s central bank governor Ali al-Alaq said on Tuesday that the bank’s reserves of foreign currency amounted to $ 48 billion, pointing out that Iraq will not resort to the currency.

“The central bank of foreign currency currently amounts to $ 48 billion,” al-Alak said in a statement Tuesday. He added that “Iraq, which is one of the oil states, has a fixed exchange rate, or fixed with flexibility, and does not have a fixed rate of return. in Iraq or other oil countries. ”

“The flotation is difficult to apply in Iraq, considering that the government, de facto, monopoly the offer of the dollar and foreign currencies.”

The floating currency is to make the exchange rate of this currency fully liberalized, so that the government or central bank does not interfere in determining it directly, but is automatically discharged in the currency market through the mechanism of supply and demand, which allows to determine the exchange rate of the national currency against foreign currencies.

Read more: http://www.dinarupdates.com/blog/
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Iraq plans to extend a new pipeline to transport Kirkuk oil

The Ministry of Oil called on international companies to invest through the implementation of a project to extend a new pipeline for oil exports from the fields of Kirkuk to the Turkish border, according to an official statement. The statement quoted the spokesman of the Ministry of Oil Assem Jihad, “The oil projects company called on local and international companies to participate in the implementation of a pipeline project for oil exports from the fields of Kirkuk to the Iraqi-Turkish border.”

He added that “the pipeline length of 350 km and diameter of 48 knots and more than one million barrels per day.”

He explained that “the project is implemented in the form of investment, the investor company is spending on the project and then recover costs after the operation of the pipeline according to the time period agreed upon,” without further details. He pointed out that the contract requires a coalition of companies that will win the implementation of the project with the participation of local companies by not less than 25 percent.
The Oil Ministry set the twenty-fourth of January 2018, a deadline for submission of tenders, according to the spokesman.

Read more: http://www.dinarupdates.com/blog/
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G-Lin (Dinar Guru) – Having Iraq released from the restrictions of Chap. 7 was just HUGE!! And Parl. should be back on the 3rd of Jan. and we might see the added amendments to the budget that the Council of Ministers have been busy with. [See Ch7 Article below: 12-26-2017 Guru American Contractor]
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American Contractor (Dinar Guru) – Article “Iraq once again controls own economy, free of UN sanctions.” According to this article Iraq has free from all UN sanctions. Previously until this article was written Iraq has always been under Ch. 7 sanctions. Quote: “The United Nations Security Council (UNSC) has agreed to lift sanctions imposed on Iraq when the country invited Kuwait 26 years ago. The Iraqi Foreign Minsister said Dec 9 the country had completed it’s obligations under the sanctions…Kuwaiti Oil Minister Essan Al-Marzouq said Dec. 10 that the 10 year deal with Iraq provides for imports of 50 million cubic feet of natural gas a day…later rising to 200 million. The deal appears to have been the key factor that persuaded Kuwait to call for the UN to life the sanctions…Iraqi Parliament member Jassem Mohammad…’Before sanctions were lifted, Iraq was not even able to open foreign bank account in the name of the government…that cost the Iraqi Treasury enormously…” [Post 1 of 2]
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Jubouri: the next stage towards economic stability

Transfer to the sons of Basra , thanks and appreciation of the liberated provinces of Baghdad / Saad Al- Samak stressed Chairman of the House of Representatives, Dr. Salim al – Jubouri, the need to speed up holding a real dialogue in which you can put up opportunities the solution and activate the mobility of the collective towards ending the crisis, praising the role of tribes in support of stability and limited arms in the hands of State And impose the prestige of the law and the protection of citizens, and called on the Council of Ministers to include a number of paragraphs in the draft financial budget for the year 2018. Jubouri, during a meeting with the local government in the province of Basra: In a statement to “morning”, “The Parliament at its next meeting will introduce the budget law on the Council to Rath first reading , “stressing that” the employees ‘ salaries for us a red line and should not affect. ”

“Terrorism, when it is defeated, has given us a new challenge: achieving reconstruction and stability,” the speaker said. “We can not lose sight of our youth to deprive them of terrorism or other areas of futility.”

Read more: http://www.dinarupdates.com/blog/
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Enorrste (Dinar Guru) – Article: “Central Bank: float the dinar is difficult to apply in Iraq” Alaq is giving a progress report on the plans to open the currency to a float. They have taken “a package of measures” to bring them to the point where a float will work. …Then he goes on to state that they are making efforts to achieve “financial inclusion” which I take to mean international acceptance of the dinar, now that the security and financial stability have been dealt with. Finally, he concludes by stating that paying federal employees through bank deposits is working to get people to use the banks. [post 1 of 2….stay tuned]
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Enorrste (Dinar Guru) – The reason for the delay, in my view, is this last item. Unless and until the CBI can get the dinars out from the mattresses they are cautious to begin the float. In short, there are just too many dinars in circulation. However, as they get people to move to banking they can remove the large notes from circulation and begin the float. Therefore, I see this article as positive. It is a report card only but points to a goal (the float) that is imminent. I get to this conclusion because…it specifically is mentioned that Egypt moved to a float, but “too late.” This would imply to me that the CBI is not going to be “too late” in moving forward, unlike Egypt. [post 2 of 2]
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Washington and Baghdad are negotiating a long-term US presence in Iraq

The United States and Iraq have recently intensified their talks to keep a section of US troops permanently in the country following the expulsion of armed militants.

Both countries want to avoid repeating what happened in 2011, when US forces withdrew from Iraq after they successfully curbed al-Qaeda’s threat and reduced violence in the country. But three years after that withdrawal, the Iraqi army collapsed in the face of the march of armed militants.

According to US officials, who declined to be named because they were not authorized to speak publicly, the United States and Iraq have yet to decide on the size and composition of the force that would remain, which could change over time.

Read more: http://www.dinarupdates.com/blog/
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BGG (Dinar Guru) – Article: “Anti-Government protest continue for third day in some Kurdish cities” These unfolding events are BIG NEWS… Barzani’s “Old Guard” regime is on the verge of collapse. Abadi has been plain in his efforts to protect and help ALL the people of Iraq.
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Kaperoni (Dinar Guru) – Article: “A new term Atdoual Iraqi banks and earns “millions” during hours without paying one penny” Quote: “the daily speculation carried out by traders across the volatile instruments affect the stability of the currency rate and the size of the cash reserves of foreign currency because the bank will cover the needs of Iraq Foreign trade, but these speculators use these reserves for the purpose of profit.” So they either reduce the spread to 2% or less as required by the IMF or start the currency reform and float the currency so they can eliminate the dollar auctions.
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Anti-Government protest continue for third day in some Kurdish cities

6:36 p.m.

Kurdish health officials lower protest death count from 5 to 2

The KRG Ministry of Health and local officials have lowered the death casualty for Tuesday violent protests in the city of Raniya to two, down from five.

Taha Mohammed, spokesperson for the health department in Raniya, had told Rudaw on Tuesday that five people were killed and 80 more injured after the anti-government protests in Raniya, the capital city of Raparin Administration, northwest of Sulaimani.

He told Rudaw on Wednesday evening that they had “mistakenly calculated” the death casualties as their hospitals were overcrowded by dozens of injured protesters.

On Tuesday evening, the public hospital in the city recorded five deaths “three of whom died of normal conditions” unrelated to the protests. He added that only two died from the clashes on Tuesday.

Dr. Khals Qadir, the spokesperson for Kurdistan’s Ministry of Health, also told Rudaw on Wednesday that they have recorded only two cases of death from Tuesday’s protests.

Mohammed, from the Raniya health department, added that the number of injured has risen to 87 following fresh protests in Raniya on Wednesday…
Read More: http://www.dinarupdates.com/showthread.php?55809-Anti-Government-protest-continue-for-third-day-in-some-Kurdish-cities

BGG ~ These unfolding events are BIG NEWS… Barzani’s “Old Guard” regime is on the verge of collapse. Abadi has been plain in his efforts to protect and help ALL the people of Iraq.

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Mike (Dinar Guru) – Article: “Identify obstacles to sustainable development and demand overcome them” Quote: “This conference aims to intensify and coordinate efforts between the Iraqi private sector on the one hand, and between the decision – makers in the House of Representatives and the executive representative of the government of the other side and the support and sponsorship of the International Project Center” I like this guy and he seems to be headed in the right direction, let’s hope the GOI is listening and picks one task and fully accomplishes it and moves on to the next one. …Revamp the investment law. Provide guarantee’s on bank deposits. Move the dinar into Article VIII. Empower the open market economy. Before you know it, the west is investing in Iraq instead of handouts.
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Mnt Goat (Dinar Guru) – …the CBI’s next move is to set the program rate to 1000 : 1 (dinars to US dollars) in early January. But this is not the kind of huge change we are waiting for. We need the 1:1. But this change in January will be a sign for us that the 1:1 is coming soon.
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Stryker (Dinar Guru) – Breaking News: Parliamentary finance raises the draft budget to the Presidency and we are waiting to set a date for approval…Ever Closer To The Finishline.
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Kaperoni (Dinar Guru) – Article: “External: one file and out of Iraq from the provisions of Chapter VII” Whether its UN Chapter VI or VII, it’s pretty clear that the UN has some control over Iraq until the final balance to Kuwait is paid in full. The good news is that they agreed to start paying again in 2018.
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The resignation of the President of the Parliament of Kurdistan of Iraq and the withdrawal of two parties from the Government of the Territory

The news agency “Reuters” quoting party sources that the President of the Parliament of the Kurdistan region of Iraq, Yousef Mohammed, submitted his resignation.

On the other hand, the Movement for Change and the Kurdistan Islamic Group decided to withdraw from the Kurdistan Regional Government of Iraq.

The channel “Alsumaria” a leading member of the Movement for Change Karwan Hashim said that “the Change Movement and the Kurdistan Islamic Group decided to withdraw from the government of the region,” explaining that “the decision to withdraw also included the withdrawal of the President of the Kurdistan Regional Parliament Yusuf Mohammed from office.”

Hashem confirmed that the decision to withdraw was a joint, and was caused by “the neglect of the authorities of the many attempts by the Movement for Change for the implementation of reforms in the Kurdistan region.”

He added that “the movement of change will turn into an opposition force to press for changes and reforms” in the region, stressing that it “is planning to start a new phase of political action.”

The movement’s leader also announced that it had decided to suspend its agreement with the Patriotic Union of Kurdistan. He said that “the leadership of the Movement for Change decided in its meeting today to suspend its agreement with the Patriotic Union of Kurdistan,” and “against the backdrop of recent developments in the Kurdistan region.”

He added that “the citizens of the Kurdistan region will not bear the most current bad conditions,” pointing out that “the current government failed to manage the region and must leave.”

Read More: http://www.dinarupdates.com/showthread.php?55811-The-resignation-of-the-President-of-the-Parliament-of-Kurdistan-of-Iraq!!
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Kaperoni (Dinar Guru) – Article: “The document: a political entity address the Prime Minister officially .. and demanding the dismissal of the Governor of the Central Bank” The one key thing with Alaq as he seems to have united his plans with the GOI. Something that never would have occurred with Shabibi. And I would think if those plans were not in the best interest of Iraq the IMF would have said something as they are present at the meeting, conferences and consultations.
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Enorrste (Dinar Guru) – Article: “Iraq replaces the confidence of the world economically” It appears that Abadi is more positive about the banking situation in Iraq than he should be. We have seen over the years that the banking system in Iraq was woefully deficient. There have certainly been improvements made, but one factor that has not yet occurred is the movement of dinars from mattresses to banks. Unless and until that occurs I fear that the economy will not take off and, more importantly, the CBI won’t be able to reduce the money supply allowing the value to rise. Foreign investment will help but I doublt that it will be as aggressive initially as Abadi would like to believe. This is like trying to move an ocean liner. It starts out slowly and, as KAP [Guru Kaperoni] has noted, gains momentum. But this is not a 100 yard dash. It will take time, months at least, to see any significant change in the investment climate. That’s my 2 cents worth. I wish I were wrong, but I’ve been in this over 11 years and I can’t help but believe that Abadi’s hype is overstated.
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Senior Sunni scholars support Abadi’s push to fight corruption

The Iraqi Jurisprudence Council of Senior Scholars for Preaching and Fatwa declared Monday its support for the measures taken by Prime Minister Haider al-Abadi for fighting corruption.

In a statement, the council said a high-level delegation visited Najaf city on Saturday.

During the visit, Sunni scholars met with a number of Shia scholars.

The delegation has discussed many issues of concern to the Iraqi people, which will contribute to finding solutions to many problems at the present stage, the most significant of which is achieving unity and combating of extremist ideas, the statement read.

According to the statement, the Sunni delegation stressed that it stands by the Iraqi prime minister in his push to fight corruption and corrupt officials.

The visit is an important step in the joint cooperation between Sunni and Shia clergies to achieve peaceful coexistence, the statement added.

This comes after Abadi announced he will unveil a list of corrupt officials.

Read More: http://www.dinarupdates.com/blog/
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Enorrste (Dinar Guru) – Article: “World Bank: ready for the advancement of the Iraqi economy” I agree with KAP that the fact that this is being driven by the World Bank is very significant. In the past we have heard many times that “in the coming period” something may happen, but these were all from within the GOI or CBI. The politics intervened and delays occurred. However, with the World Bank behind this move it seems that we may finally begin to see some real economic growth in the country. Obviously with that growth there will be a strengthening of the currency which should allow for the float to begin. It could take several months, but at least we have one of the “big boys” behind this, finally.
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Kaperoni (Dinar Guru) – Article: “World Bank: ready for the advancement of the Iraqi economy” This is another very important article. Since the World Bank is who was helping the CBI with currency reform, it appears they are on board now to get it done. If you read previous delete zeros articles the World Bank was clear on the benefits and reason to restructor the currency. Seeing this article gives me hope that with the help of the WB, the project may start within a month or two. Keep in mind, those same articles stated that it takes a long time ( I am speculating at a few years) to delete the zeros.
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Follow us on twitter @DinarUpdates !!

Dinar Updates – Q & A Call – with BGG from Dec 12th – 8:00 pm Conference Call Phone # 641-715-3639 pin #528733

12/12 – Recorded Call Replay Link

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Adam Montana (Dinar Guru) – […do you have some good news about thé HCL? RV?] I wish I did right now! We’re in a little bit of a lull with the HCL, and I’m not sure when that lull will be over, but I AM certain that it will end soon. All we can do right now is wait to hear some news. My guess is we should get HCL news within the next 6 weeks. It’s a topic that cannot be ignored forever, it’s something they NEED regardless of their currency value, and it is only going to benefit them. I get torn on this next statement… I want to say “the sooner, the better!” But then I also like the sound of “The HIGHER, the better!” With those words in mind, I usually decide it’s best if I exercise some of that virtue called “patience”, and I’m ok with letting it take a little longer if it’s going to be done right.
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MilitiaMan (Dinar Guru) – Article: “Iraqi bank receives international award” Another indicator of significant progress or coming about international if you will. Setting up for to the final outcome imo.
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Mnt Goat (Dinar Guru) – If you are paying attention to all the news…You should, and now be aware Iraq is on a very strong position to the final phases of the “project to delete the zeros”. The news could not get any better. Last week Iraq delivered to us some amazing news. It was all news that we have been waiting for many years to receive. It is here now and we are moving forward at a faster pace. We heard from the IMF, after the release from Chapter VII, that Iraq is now truly a “fully” sovereign nation…and can now freely deal with the international community… …Iraq can now handle all its oil sales revenues directly. [post 1 of 2….stay tuned]
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Jubouri and the Saudi Ambassador agree to activate the factors of economic and investment development

Baghdad / Al-Ghad Press: Speaker of the House of Representatives Saleem al-Jubouri and the Saudi ambassador on Saturday agreed on the necessity of activating the economic and investment development factors between the two countries, opening new horizons and opportunities for developing trade and Saudi Arabia playing an important role in the reconstruction of liberated areas…

Read more: http://www.dinarupdates.com/blog/
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The Central Bank strengthens banks in local currencies of small groups

Baghdad / Al-Ghad Press: Called the Central Bank of Iraq on the need to maintain the local currency, pointing to the strengthening of local banks in local currencies of small groups.

A source from the Central Bank of “Al-Ghad Press”, said on Tuesday that “the bank calls for the preservation of the local currency and the strengthening of banks with small groups of local currency,” pointing out that “the printing of the Iraqi currency and replace them cost amounts,” calling on citizens to maintain and maintain Bank notes when trading “.

He revealed that “the Central Bank has announced a tender for the printing of new banknotes (small categories) in the printing companies of the world.”

Read more: http://www.dinarupdates.com/blog/
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Mnt Goat (Dinar Guru) – We know ...currency auctions are killing the CBI reserves and must be halted due to corruption. These auctions limit the ability to trade and pay in Iraqi dinars… We know last month that Iraq made trade agreements with boarding countries (Iran, Jordan, Saudi Arabia, Turkey and Iran) and to pay debts in their own currencies. Meaning Iraq is to pay in Dinars, Iran in Riyal, etc. Oh – but how can Iraq when they are restricted in these currency auctions to convert Iraqi IQD to USD and pay in US dollars? We now know (from a previous article this week) that the financial fiscal year for Iraq ends today Dec 15th. I am not going to give you any promises of an RV. I am only trying to bring out the possibilities with EVIDENCE, PROOF and FACTS that this RV ride may soon be over. …There is just so much evidence pointing in the direction of the end of the year. [post 2 of 2]
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MilitiaMan (Dinar Guru) – Quote: “We would like to inform you that RTL transfers has been activated MSG via electronic services via the Internet‎” This is telling us Iraq just went Digital… imo… if this is true, then our time is near! imo
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Mnt Goat (Dinar Guru) – A lot of readers asked me if Iraq was “fully” out of Chapter VII sanctions of the UN Charter for member nations. Here is my answer: Iraq is “fully” out of the part of sanctions that took them into the oil for food program, thus for the period mid April 1995 – Dec 2017 all oil revenues (petro dollars) had to be deposited first into the DFI fund (Development Fund for Iraq). This protected the funds from predator debt collectors and also corrupted officials. BUT NOW THIS IS NO LONGER MANDATED! Iraq can now receive oil revenues directly and the DFI fund is closed. This is just like before the first gulf war. This is what we want. This is said to mean “full” sovereignty… This is what Iraq wanted and needed prior to the RV. However technically there are still minor Chapter VII issues but they will have little to no impact on the re-instatement of the currency.
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Resolving Erbil-Baghdad Crisis “Big Priority for US”: National Security Advisor

ERBIL — National Security Adviser to the US President, H. R. McMaster, said on Wednesday that finding a solution to the disputes between Erbil and Baghdad is “a big priority” for Donald Trump’s administration.

Speaking at an annual conference of the Jamestown Foundation, McMaster explained that Washington has been assisting Kurds since 1991 with Operation Provide Comfort (OPC), hoping to protect them from atrocities carried out against them.

“What happened?” McMaster asked. “You saw the Kurdish Region flourish.”

He valued the developments in Kurdistan Region and said, “It’s a miracle, almost, what happened in Northern Iraq in terms of beautiful cities in Sulaimani, Erbil, and Dohuk.”

“We think an important aspect of Iraq being strong is resolving this conflict and tension between the Kurdish Region and the rest of Iraq,” he said, as reported by Kurdistan24. “So we’re committed to that.”

“We are committed to the territorial integrity of Iraq and also the territorial integrity of the Kurdish Region… We are committed to work together with the Kurdish leadership [and] the Iraqi leadership to mediate the best we can.”

Read more: http://www.dinarupdates.com/blog/

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MilitiaMan (Dinar Guru) – Article: “Saleh: There are question marks on mechanisms to convert foreign currency to Iraq” When Saleh talks about the safest way to secure payment methods at this juncture in time, is serious information. The documentary credit [reference post 2] is looking to be the way he is going to protect that long line. It is an assurance that the importer has complied with standards that are acceptable for international trade. This is setting the stage for what is expected and that is a level playing field in an international setting that requires transparency and a stable currency at a stable price. Bye bye program rate! imo~ Chapter 7 was lifted on the 8th of December from the article I read.. Imo That was a go time! wink wink wink The twins were born.. lol ~ [post 1 of 2….stay tuned]
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MilitiaMan (Dinar Guru) – “The documentary credit is one of the most secure payment methods in international trade, offering the exporter a conditional payment guarantee from the importer’s bank. Documentary credits usually require the presentation of certain documents, which must be complied with before payment can take place. You must be aware that banks examine the documents only with respect to the documentary credit and do not look at contracts, agreements or the condition of the goods.” [post 2 of 2]
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Iraq emerges from Chapter VII and the “oil for food”

Iraq ended Saturday with a decision by the Security Council to withdraw from Chapter VII of the oil-for-food program imposed on it since the 1990s.

“Iraq has regained its normal status and international standing,” Foreign Ministry spokesman Ahmad Mahjoub said in a statement, adding that his country had completed all commitments to the program after a series of diplomatic successes.

According to the Security Council resolution that “completed the efforts of Iraq to end its files from the era of the former regime,” he ended his obligations under Chapter VII on the oil-for-food program, after he carried out in full.

In 1996, the United Nations imposed the $ 64 billion oil-for-food program to enable Iraq, besieged by timely international economic sanctions, to sell certain quantities of its oil and buy basic necessities.

BGG ~ Obviously, this is very big news, however…

Is Iraq being FULLY removed from the UN Ch 7 Charter (as in – all UNSC oversight)?

(BTW – the sanctions and “the UNSC Charter” may well be two related but different functions)

The wording is still a bit murky for me…

There are some “tensing”, translation and direct reference issues I would like to see cleared up.

It’s not entirely clear they are officially clear of Ch 7 entirely. In many of the articles and interviews, it appears (to me) as though this is referring to the Oil-for-Food program as an individual issue… apart from the UNSC overall function.

I have said repeatedly – I’m not sure they will release Iraq from their UNSC Ch 7 oversight anytime in the near future. This would greatly limit the UN’s ability to come and go (within Iraq’s borders) as they see fit.

Though the UN appears to be pushing Iraq forward rapidly, I am dubious they give up a big tool in their fight against terrorism in the region.

Does Iraq have to be fully released from the UN Ch 7 charter (the protection portion) to progress to where we would like them to? I believe not. JMHO.

Worst case – they are released from the Oil-for-Food portion of the UN Ch 7 sanctions – which is the last of the active CH 7 sanctions and allows them to sell oil more freely on the open market. Great. Huge move forward.

I am going to be somewhat reserved until a official U.N. announcement of a full release from CH 7.

It’s also curious how they managed to hold an international bond offering without this previously and were successful??

My advice – NO MATTER WHAT… calm down. There is an extraordinary amount of jumping from A to B to Z in the community right now. None of the assumptions have to be correct. Relax – wait for the facts.

Don’t add to the “internet hysteria” going on right now…

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Kaperoni (Dinar Guru) – [What other laws are we waiting on? I believe I read something a while back from Kap saying the cbi law was what was needed and there was no specific law needed for the deposit insurance.] Both are done... CBI law passed last month and deposit insurance was passed months ago, never implemented…yet the CBI stated just a day or so ago insurance was imminent.
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Don961 (Dinar Guru) – Some are confused and have asked: Chapter VII, Chapter VI are UN sanctions…having to do with Kuwait war reparations from Sadaam’s attack on them… Article VIII compliance has to do with the IMF…Dotting all the i’s , crossing all the t’s to comply with IMF rules and regulations.
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Kaperoni (Dinar Guru) – Article: “Specialist: Iraq’s exit from Chapter VII paving the way for a safe area for business and investment” [I don’t see them getting out of Chapter VII until they satisfy their debts to the Kuwaiti’s…] …a deal is done to pay the balance with Kuiwait. Today’s press release concludes Oil for Food program under Chapter VII moving Iraq to Chapter VI. I think the references to the assets and banking accounts is significant. This could effect the dinar.
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Image result for UN pics SECURITY COUNCIL
8126TH MEETING (AM)

All Measures Imposed under Iraq Oil-for-Food Programme Implemented in Full, Security Council Concludes, Unanimously Adopting Resolution 2390 (2017)

The Security Council concluded today that all the measures imposed in its resolutions 1958 (2010) and 2335 (2016) pursuant to Chapter VII of the Charter of the United Nations in relation to the Iraq oil-for-food programme had been fully implemented.

Unanimously adopting resolution 2390 (2017), the Council welcomed the fact that the remaining funds in the escrow accounts established pursuant to resolution 1958 (2010) had been transferred to the Government of Iraq pursuant to resolution 2335 (2016).

The Council acknowledged the Secretary-General’s final report on the matter (document S/2017/820), which stated, among other things, that the remaining $14,283,565 in the administrative escrow account had been transferred to Iraq.

Following the adoption, Amy Noel Tachco (United States) applauded Iraq’s complete implementation of measures under the oil-for-food programme, although the country still faced many challenges. She looked forward to close cooperation internationally and bilaterally in support of Iraq as a federal, democratic and prosperous country.

The meeting started at 9:45 a.m. and ended at 9:48 a.m.

Resolution

The full text of resolution 2390 (2017) reads as follows:

“The Security Council,

“Recalling its resolutions 1958 (2010) and 2335 (2016),

“Acknowledging receipt of the final report of the Secretary-General pursuant to paragraph 4 of Security Council resolution 2335 (2016), S/2017/820,

“1. Welcomes the implementing arrangements entered into by the Secretary-General and the Government of Iraq as requested in paragraph 7 of Security Council resolution 1958 (2010);

“2. Also welcomes that the remaining funds in the escrow accounts established pursuant to paragraphs 3–5 of Security Council resolution 1958 (2010) have been transferred to the Government of Iraq pursuant to Security Council resolution 2335 (2016);

“3. Concludes that all the measures imposed by the Security Council in resolutions 1958 (2010) and 2335 (2016) pursuant to Chapter VII of the Charter of the United Nations have been fully implemented by the parties.”

Read more: http://www.dinarupdates.com/blog/
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G-Lin (Dinar Guru) – Article: “The UN Security Council issued a decision to exit Iraq from Chapter VII” Quote: “After the series of diplomatic successes achieved by the Iraqi Foreign Ministry, its efforts culminated in the issuance of a Security Council resolution to remove Iraq from Chapter VII in the oil-for-food program,” Foreign Ministry spokesman Ahmed Mahjoub said in a press release. After completing all the commitments of the program “. I find it very interesting that this is occurring out of nowhere here at the end of the year. This is pretty huge.
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Apmcrx (Dinar Guru) – Article: “The Central Bank holds its third annual conference with an Arab and international presence” Quote: “the conference will witness a large Arab and international presence, including Kuwait, Lebanon, Egypt, Jordan and Tunisia as well as representatives of the Bank and the International Monetary Fund.” This article smells like our next announcement from IMF article 8 to Iraq is coming too…!!! IMO.
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Delta (Dinar Guru) – Article: “France is looking to expand investment cooperation with Iraq” Quote: “I can assure investors that the Central Bank has been able to remove the last restrictions related to the external transfer of the amounts that represent the proceeds of the investment.” VERY HUGE AND GOOD JOB…ARTICLE 8 RIGHT THERE… FREEDOM OF MOVEMENT OF CAPITOL.
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Masoum calls for the unification of the Iraqi banking system to promote economic reality

President Fuad Masum called on Thursday for the unification of the Iraqi banking system in all parts of the country in order to promote economic reality.

“President Fuad Masum received at the Peace Palace in Baghdad on Thursday, the governor of the Central Bank Ali al-Aalak,” said a statement by the president of the republic.

“The meeting discussed the current monetary and financial situation and the need to modernize banking mechanisms and specialties in Iraq, taking advantage of the latest international technical data,” the statement said.

He stressed the infallibility of the central role of the Central Bank of Iraq in supporting partnership with foreign banks approved and facilitate transactions with local and foreign monetary institutions and strengthen its work within the country in accordance with the law and serve to accelerate the construction of a comprehensive and strong economic system.

Read more: http://www.dinarupdates.com/blog/
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Apmcrx (Dinar Guru) – Article: “Security Council issues a decision to exit Iraq from Chapter VII” Quote: “...remove Iraq from Chapter VII of the oil-for-food program and restore it to its natural status and international status…” Official announcement!!! Natural and International rate is coming!!! Imo.
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Adam Montana (Dinar Guru) – …over in Iraq, we have a little more news than usual this week! It’s being rumored (some confirmed sources, some… not so confirmed) that there is a legitimate push to introduce new currency notes, presumably in smaller denominations. That’s not something you do unless you can establish a need for those smaller notes, which of course requires a stronger exchange rate. The Budget is likely to be finalized in February. I know that’s an eternity for some of us, but that’s the buzz. Unfortunately, I have nothing to report on the HCL. I’m hearing rumors, but nothing confirmed..
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Governor of the Central Bank of the first economic profile for 2017

*The support provided by the Central Bank to the national economy during the economic and financial crisis and the war on terror is a shining point and a successful experience of success in a country that is going through harsh conditions and a historical phase which is the most difficult to face the economic and security challenges that no country has experienced in the world during the last three years like Iraq.

As proved Mohsen Alalak, Governor of the Central Bank of Iraq and his team that they are Mujahideen of first-class in the promotion of economic steadfastness and achieve financial stability and financial victory.

Through prudent efforts and measures and the applications of monetary policy and the development procedures of the Central Bank in the difficult economic stage of Iraq that they were able to draw a strategy for the years (2016-2020) and a clear roadmap goals and ambitions to stabilize the financial system and stimulate fiscal growth and financial inclusion and structural and institutional construction and investment Human capital through the achievements of its mission achieved during the years (2015-2017), the most prominent: maintain the inflation rate of not more than 2% and the level of foreign reserves within acceptable rates in accordance with international standards, where the reserve a foreigner to Iraq up to $ 47 billion and stimulate the banking sector regulatory and supervisory and supervisory and establish new units within the regulatory structures of banks such as compliance and combating money laundering and financing of terrorism and credit and operational risk management and the issuance of the law of money laundering 39 for 2017 and the development of payment systems and the application of all payments by retail and mobile phone and the establishment of the national division.

Read more: http://www.dinarupdates.com/blog/
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G-Lin (Dinar Guru) – Article: “The Central Bank strengthens banks in local currencies of small groups” Quotes: “…the printing of the Iraqi currency and replace them cost amounts,” calling on citizens to maintain and maintain Bank notes when trading.” “the Central Bank has announced a tender for the printing of new banknotes (small categories) in the printing companies of the world.” Is this the beginning of distribution of L.D.’s? If so, they did it last month. It just doesn’t make sense to me for CBI to go to the expense of printing 1000’s and 500’s based on today’s value unless they intend to give them a higher value. It cost more to print them than they are worth. Of course they wouldn’t tell us if they distributed anything smaller. That would tell us too much.
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Kaperoni (Dinar Guru) – [where do you think the float will start at?] I expect it to start right where it is at 1184…may go up fast who knows. The CBI would be foolish to RV, to much money to be made off commission. The IMF wants currencies to float. […could you please explain how this will work.] …hard to know for sure but we will learn when it happens. I have my own guess…That the CBI will get in compliance with the IMF and accept Article VIII. Move to a float…and gradually remove the 3 zeros notes and the dinar rises in value. People dont realize the CBI needs a new exchange regime… choosing to float is a good thing…the CBI makes money…remember, if the CBI stops the auctions, they need to have an alternative. A float allows for the CBI to buy/sell and make commissions and its all about the money. Lets put it another way, you cannnot revalue 44 trillion dinar…thats 4 times the worlds money supply…no such event will ever occur.
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The role of scientific research in developing the reality of the Iraqi economy

Scientific research is one of the most important means of developing countries in various fields, whether technological, medical, scientific, educational, cultural or other fields. The economic aspect comes in the forefront of these fields because of its great role and vital and effective in the study of economic reality and scientific methodology to identify Pros and cons that lie in the economic joints and identify the strengths and weaknesses in order to work to strengthen and develop the sources of strength and reform of the existing weakness and work to overcome the negatives that accompany economic performance in accordance with the scientific method based on the integrated methodology study.

The results of the scientific research are based on statistics and data obtained from the real reality and work to provide solutions and alternatives derived from the results of scientific research, which enables the development and development of the economic reality in various aspects investigated and the work of scientific research to study.

Read more: http://www.dinarupdates.com/blog/
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Follow us on twitter @DinarUpdates !!

Dinar Updates – Q & A Call – with BGG from Nov 8th – 8:00 pm Conference Call Phone # 641-715-3639 pin #528733

11/08 – Recorded Call Replay Link

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G-Lin (Dinar Guru) – A well-informed political source reveals the “identity” of the two companies that the Abadi government contracted with to help fill corruption files... Article quote: “A source familiar with the political, on Sunday, that two companies are conducting the verification of files of corruption in Iraq since 2003. The source said in a press statement that ‘two companies, one American and one British are conducting the audit files corruption in Iraq since 2003 so far, and its task to detect corruption and identify the identities of those involved.” The investigation into the corruption cases is due to start on the basis of a memorandum of understanding signed by the Iraqi government with the United Nations. International investigators will assist the Iraqi government in uncovering the fate of Iraq’s $ 361 billion budget deficit between 2004 and 2014.
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Kaperoni (Dinar Guru) – Article: “Expert for {morning}: 2018 will see a renaissance by making {in Iraq}” Quote: “the government has worked during the last term on the advancement of the industry through a partnership with the private sector, but the move has seen a delay because of the war on terror, but we hope to be activated during the next year” [2018 it is.] I dont like to get overly excited. This could take another 3-6 months before they get into Article VIII and begin to float. Nothing moves fast in Iraq. But we can hope.
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Where is the Iraqi economy?

The economy is the engine of the joints of the state and the recovery of the various sectors, whether government or private sector so all countries of the world seek to develop plans either short or long-term; in order to improve their economic reality.

It is obvious that the positive economic return is a factor in the well-being of the people and the rise in income, not to mention moving the sectors in a way that serves the wheel of construction and development, especially as the market world today forces countries to enter the competition in order to increase their imports and seek to acquire the market.

Iraq is part of today’s world, which has needs and requirements that must be provided to sustain life and meet the needs and wishes of citizens and the state alike. But the economic equation says that the trade balance should be moderated to realize whether we are in a good economic situation or that the balance of payments exceeds the balance of imports.

Read more: http://www.dinarupdates.com/blog/
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G-Lin (Dinar Guru) – Abadi has a ridiculously tough job and I don’t think he can do it alone. Amal Clooney has appeared before the U.N. several times begging Abadi to sign a simple doc. that would open Iraq up to the I.C.C. and to my knowledge he has not cooperated yet. Parl. probably has him handcuffed. So frustrating. The I.C.C. has all of the docs. on Maliki and many more and interpol could issue arrest warrants immediately. Maliki and Barzani are too powerful and charges must be brought up in the international courts. Curtailing Iran’s influence is no easy task. I did read yesterday where Russia is giving some resistance to Iran and the Gulf summit will be held in Kuwait next week. Results of that summit may be fruitful
______________________________________________________________

Kaperoni (Dinar Guru) – We all should know by now currency reform is a process. Currency reform like we want to see requires stability, implementation of technology, and planning. From what I am reading, progress has been made in recent weeks with the new CBI law, anti money laundering, electronic banking. But this takes time to implement and activate. Not to mention the CBI still has work to do to be in compliance with the IMF. The good news is the CBI is pushing forward on reforms, have banking events scheduled next month, next year. With all this known, hopefully we will see changes in the next few months to perpetuate the banking system and encourage investment

______________________________________________________________

Follow us on twitter @DinarUpdates !!

Dinar Updates – Q & A Call – with BGG from Nov 8th – 8:00 pm Conference Call Phone # 641-715-3639 pin #528733

11/08 – Recorded Call Replay Link

______________________________________________________________

Post RV Checklist (it’s getting to be that time!! Listen up!!)

Dos and Don’ts of Windfall Wealth:

Treat it like a PowerBall win

– Tell no one, not even family. If you must talk, do so with one who is already in the know.

– Don’t run out & buy new “stuff”. People notice.

– Get an unpublished number and give it out very sparingly.

– Get a tax accountant you can trust to make sure the IRS is satisfied (Certified Opinion is something to look into) and pursue asset protection…

If you found this blog, our website or chats helpful – Forward it to a friend!! We couldn’t do it without you!! Thanks – BGG!!

www.DinarUpdates.com

DINAR OBSERVER DAILY – Feb. 12th

Posted on February 12, 2018 by The Dinar Observer

The @IraqiGovt is implementing reforms

Follow us on twitter @DinarUpdates !!

____________________________________________________________

Tilerson begins a regional tour of Iraq reconstruction conference

The official opening of the conference will be on February 14 in the presence of the Kuwaiti Emir and Prime Minister Haider al-Abadi.

The Turkish daily Yeni Shafak said that “next Tuesday, US Secretary of State Rex Talerson will visit Ankara and will be preceded by his national security adviser Herbert McMaster.”

Read more: http://www.dinarupdates.com/blog/
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Sources: away from the Kurds National Alliance and the Union of forces agree to pass the budget

Image result for picture of Kurdish National Alliance

Read more: http://www.dinarupdates.com/blog/
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Former minister: $ 500 billion will return to the state by applying the law “Where do you get this”

The House of Representatives on Saturday, during the session of the House of Representatives first reading of the proposed law on graft “Where you get this.”

“Former Minister of Water Resources Mohsen al-Shammari, it is likely to recover 500 billion dollars to the state treasury if the law applies” Where do you get this? “…

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

BGG ~ 500 Billion USD is an awful lot of money… especially when you consider Iraq is only asking for 100 Billion for their COMPLETE rebuilding process.

This is the size and scope of their corruption problem. This bill will be a problem. Everyone voting on it is crooked. Kinda’ like trying to get term limits passed here.

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Masoum stresses Iraq's urgent need for a solid and open economy

Masoum stresses Iraq’s urgent need for a solid and open economy

{Baghdad: Al-Furat News} President Fuad Masum, stressed the urgent need of Iraq to build a solid economy.

Read More: http://www.dinarupdates.com/blog/
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Special for change .. Abadi of parliament: the international community will not help Iraq if the budget is not approved

Quoting the channel of change .. Abadi of parliament: the international community will not help Iraq if the budget is not approved

Altahreernews.com

BGG ~ Oh wow. We’ll this pretty much spells it out. However, keep in mind – this is likely Abadi talking TO his Parliament, urging them to adopt their budget.

When I initially started down this line of reasoning, I had no idea international sentiment was as tough as it appears to be. WOW!!

The UN, IMF and WB all appear to want to support Iraq in the worst way – but it also very much appears there are results that are yet required.

P.S. This might also explain this very direct, “hands on” push by Abadi to get the budget done.

We wait and watch.

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Al-Alusi: Donor countries will not pay one dirham to a corrupt government

Special Mawazine News – Parliamentarian Mithal al-Alusi said on Tuesday that donor countries would not pay one dirham to a government accused of corruption.

“The donor countries can not be assured of their support at the donor conference to be held in Kuwait next month,” Alusi told Mawazine News.

“Those countries will not give Iraq a single dirham, because the government and the conservatives are accused of corruption,” he said.

“The states have informed the Iraqi government and politicians (we will not give you money because you are not trustworthy),” Alusi said.

The government has earlier announced efforts to coordinate with the Kuwaiti government to invite more than 70 countries to the donors conference scheduled to be held in Kuwait in February.

Source

Paul Moseley – “BGG YOU HIT THE NAIL ON THE HEAD”!!

BGG ~ Another accurate portrayal in the news. That is all. Thank you though 🙂

I have been talking the last however long about what Abadi needs to do along the lines of a real fight against corruption and why. Then I came out and did a fairly long dissertation on the matter. Some people didn’t like what I had to say… I only call it the way I see it.

Then this came out today…

…”Those countries will not give Iraq a single dirham, because the government and the conservatives are accused of corruption,” he said…

This might explain the less-than-luke-warm response Abadi got while at Davos.

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Abadi’s war against corruption must begin with Maliki and his henchmen

Corruption in Iraq has caused severe poverty in Iraq, which led to civil and sectarian strife that caused the extreme damages to the country’s infrastructure.

Shia parties lead corruption…

Read More: http://www.dinarupdates.com/blog/
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BGG ~ When I first started hearing these reports out of Baghdad about this grand “war on corruption” Abadi has planned I was hopeful. I still am. However, there is much to consider. Far more than meets the eye.

This push has been going on since before the end of the fight for Mosul. Abadi started laying out his agenda then. However, one article from last week caused me a little concern, it mentioned Abadi might wait until after the elections to go after “the whales of corruption” (or something along those lines) so it didn’t look like he was doing it for “electoral purposes”. This troubles me some. It seems like a tidy excuse.

The opinion article we lead with today somewhat seeks to goad him into this fight. It might even be hitting on a key point – “Is this all for show”? As in, “election cycle propaganda”. One question I have long had is, “why has it taken this long”? This is a fair point, I think. If Maliki is as corrupt as he is rumored to be, evidence cannot be in short supply…

Read More: http://www.dinarupdates.com/blog/
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Delta (Dinar Guru) – …ONE OF IRAQI CHANNEL ON THE TICKER THEY SAID THAT CBI STRATGEY ON DINAR EXTERNAL EXCHANGE RATE IT WILL 1-1…WOW. WE WILL SEE WHAT NEXT WEEK BRING US…

Be very cautious of this information…
_____________________________________________________________

Abadi: They are on the process of rising the Iraqi economy and create jobs

He explained that “Iraq has become a great success story achieved thanks to the unity of Iraqis, and we are on the way to the process of rising in the Iraqi economy and create jobs.”

Abadi arrived in Switzerland yesterday to participate in the economic forum “Davos” and to mobilize support for Iraq ahead of the reconstruction conference in Kuwait.

Source Link

BGG ~ FYI – Abadi has been the best thing that’s happened to Iraq in the last 2 decades. Is he perfect? No. Are they on track? More than you know. So relax.

From a different translation (same article)… Abadi: “…we are in the process of raising the Iraqi economy and create(ing) jobs…”

What exactly is this process he is speaking of? Does it include monetary and currency reform? I don’t see how it cannot – especially with the clear re-engagement of Iraq with the world markets.

With any luck Abadi will get a lot of credit for their peace and prosperity – Maliki and Barzani will get shut out on May 12th.

_____________________________________________________________

BGG ~ I do not agree with ANY of this commentary…
_____________________________________________________________

Follow us on twitter @DinarUpdates !!

Dinar Updates – BGG & the NEWS
Jan 2oth – Rec. Dinar News Call
641-715-3639 pin #932875

01/20- Recorded Call Replay Link

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Visit of the Governor of the Central Bank of Iraq Branch Basra

In his visit to the branch of Basra: Governor of the Central Bank confirms the continued support of the banking sector in all of Iraq

The Governor praised the work of the branch staff, stressing that the Iraqi Central Bank support the banking sector working in Iraq.

BGG ~ I am a little curious as to what the bill is that is pictured in this last shot? I have looked around some and can’t seem to come up with an ID on it.

(Update: according to Yahoo images, the note in question appears to be a 1947 10 Dinar note with King Faisal II on it. Probably some commemorative ceremony. Still interesting.)

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BGG ~ “…THERE MUST BE AN AGREEMENT TO BE UNDER…” Really?!? I think not.

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Ten conditions in front of Barzani for the settlement of things

Read More: http://www.dinarupdates.com/blog/
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Follow us on twitter @DinarUpdates !!

Dinar Updates – BGG & the NEWS
Jan 2oth – Rec. Dinar News Call
641-715-3639 pin #932875

01/20- Recorded Call Replay Link

_____________________________________________________________

Abadi directs a message to the Saudi king: This is what we need from you

The Ministry of Planning said Thursday that Prime Minister Haider Abadi sent a letter to King Salman bin Abdul Aziz.

Read more: http://www.dinarupdates.com/blog/
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Follow us on twitter @DinarUpdates !!

Dinar Updates – Q & A Call – with BGG Dec 27th – 8:00 pm Conference Call Phone # 641-715-3640 pin #932875

12/27 – Recorded Call Replay Link

_____________________________________________________________

World Bank: More than 600,000 employees in public companies are redundant

The existence of such proportions of the unemployed was seen as a major obstacle to reform and restructuring.

Read more: http://www.dinarupdates.com/blog/
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The United States will participate with a large delegation at the Kuwait conference for the reconstruction of Iraq

The government estimated that it needed $ 100 billion to rebuild the devastated areas of the ISIS.

Read more: http://www.dinarupdates.com/blog/
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Central Bank Governor Ali Al-Alak expressed his optimism on Monday about the country’s financial situation

Read more: http://www.dinarupdates.com/blog/
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US to participate in Kuwait’s conference for rebuilding Iraq

US Ambassador to Iraq Douglas Silliman has met with Basra governor Assad al-Edani in the governorate, media reports said on Friday.

In a press conference, Silliman confirmed that the US will participate in Kuwait International Conference for Reconstruction of Iraq, slated for February 12-14.

He said that the US will help the Iraqi government in encouraging the global companies to invest in Iraq.

Meanwhile, Edani said that he discussed with Silliman several issues, including the investment and unemployment in the governorate.

During his visit, Silliman will meet several religious minorities to celebrate the International Day of Freedom of worship.

Read more: http://www.dinarupdates.com/blog/
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5.6 quake strikes Iran-Iraq border near Kurdish cities

Read more: http://www.dinarupdates.com/blog/
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Abadi is investigating around 125 individuals accused of smuggling money abroad

Al-Bayati added that “international bodies are working to gather information and have a sufficient database of the funds of these officials and inflated their funds in close periods.”

“The prime minister will give the database to the Iraqi Judicial Commission, which he set up for review, audit of funds and names, and external accounts.”

How to recognize the counterfeit Iraqi currency

[Ayna-Baghdad] The Central Bank of Iraq, issued a design illustration of the Iraqi currency the truth of the counterfeit.

BGG ~ Here are a few obvious points…

1) I find it a little curious all this recent “float vs. no-float” talk in the marketplace lately.

2) Dated today, the CBI decides to put a “how to spot fake currency” memo…

3) Did anyone happen to notice the last 3 notes? I had to go back to my currency and dig out these notes to figure out what they were. That is a 1k, a 500 Dinar and a 250 Dinar note.

WHY IN THE WORLD WOULD THE CBI BOTHER TELLING ANYONE HOW TO SPOT A FAKE 1K, 500 Dinar and 250 Dinar note?? The 1k is worth less than $1 right now… the 500 is about .50 and the 250 is not even worth a quarter!!

Read more: http://www.dinarupdates.com/blog/

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An Iraqi bank economy directs its branches to facilitate the issuance of the MasterCard international card to journalists

Al-Rafidain Bank branches in Baghdad and the provinces to facilitate the procedures of granting the MasterCard card International journalists.

Read more: http://www.dinarupdates.com/blog/
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Rafidain Bank launches an ATM service

Rafidain Bank announced on Friday the launch of the ATM service, which depends on the electronic payment card.

The statement pointed out that ‘this step comes to reduce the theft of citizens.’

Read more: http://www.dinarupdates.com/blog/
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The Central Bank cancels letters of guarantee to exchange companies

“The payment will be by notice of the payment system ( RTGS) of the same amount from the bank account with which these companies are working for the central bank,” the document said.

The document stated that the decision obligates the companies to complete this decision, ie the deposit of 100 million dinars at the end of January.

Read more: http://www.dinarupdates.com/blog/
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Iraq once again Controls own Economy, Free of UN Sanctions

By Adnan Abu Zeed for Al Monitor. Any opinions expressed here are those of the author and do not necessarily reflect the views of Iraq Business News.

The United Nations Security Council (UNSC) has agreed to lift sanctions imposed on Iraq when the country invaded Kuwait 27 years ago.

Read more: http://www.dinarupdates.com/blog/
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Rafidain Bank launches an electronic ATM service

“This step also limits the risk that various segments of citizens will be exposed to theft because the money they carry through this card will not be visible,” the office said.

Read more: http://www.dinarupdates.com/blog/

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Iraq reveals its reserves of hard currency

Iraq’s central bank governor Ali al-Alaq said on Tuesday that the bank’s reserves of foreign currency amounted to $ 48 billion, pointing out that Iraq will not resort to the currency.

“The flotation is difficult to apply in Iraq, considering that the government, de facto, monopoly the offer of the dollar and foreign currencies.”

Read more: http://www.dinarupdates.com/blog/
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Iraq plans to extend a new pipeline to transport Kirkuk oil

He added that “the pipeline length of 350 km and diameter of 48 knots and more than one million barrels per day.”

Read more: http://www.dinarupdates.com/blog/
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Jubouri: the next stage towards economic stability

Read more: http://www.dinarupdates.com/blog/
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Washington and Baghdad are negotiating a long-term US presence in Iraq

The United States and Iraq have recently intensified their talks to keep a section of US troops permanently in the country following the expulsion of armed militants.

Read more: http://www.dinarupdates.com/blog/
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Anti-Government protest continue for third day in some Kurdish cities

6:36 p.m.

Kurdish health officials lower protest death count from 5 to 2

The KRG Ministry of Health and local officials have lowered the death casualty for Tuesday violent protests in the city of Raniya to two, down from five.

He told Rudaw on Wednesday evening that they had “mistakenly calculated” the death casualties as their hospitals were overcrowded by dozens of injured protesters.

Dr. Khals Qadir, the spokesperson for Kurdistan’s Ministry of Health, also told Rudaw on Wednesday that they have recorded only two cases of death from Tuesday’s protests.

BGG ~ These unfolding events are BIG NEWS… Barzani’s “Old Guard” regime is on the verge of collapse. Abadi has been plain in his efforts to protect and help ALL the people of Iraq.

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The resignation of the President of the Parliament of Kurdistan of Iraq and the withdrawal of two parties from the Government of the Territory

The news agency “Reuters” quoting party sources that the President of the Parliament of the Kurdistan region of Iraq, Yousef Mohammed, submitted his resignation.

On the other hand, the Movement for Change and the Kurdistan Islamic Group decided to withdraw from the Kurdistan Regional Government of Iraq.

He added that “the citizens of the Kurdistan region will not bear the most current bad conditions,” pointing out that “the current government failed to manage the region and must leave.”

Read More: http://www.dinarupdates.com/showthread.php?55811-The-resignation-of-the-President-of-the-Parliament-of-Kurdistan-of-Iraq!!
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Senior Sunni scholars support Abadi’s push to fight corruption

The Iraqi Jurisprudence Council of Senior Scholars for Preaching and Fatwa declared Monday its support for the measures taken by Prime Minister Haider al-Abadi for fighting corruption.

In a statement, the council said a high-level delegation visited Najaf city on Saturday.

During the visit, Sunni scholars met with a number of Shia scholars.

According to the statement, the Sunni delegation stressed that it stands by the Iraqi prime minister in his push to fight corruption and corrupt officials.

The visit is an important step in the joint cooperation between Sunni and Shia clergies to achieve peaceful coexistence, the statement added.

This comes after Abadi announced he will unveil a list of corrupt officials.

Read More: http://www.dinarupdates.com/blog/
___________________________________________________________

Follow us on twitter @DinarUpdates !!

Dinar Updates – Q & A Call – with BGG from Dec 12th – 8:00 pm Conference Call Phone # 641-715-3639 pin #528733

12/12 – Recorded Call Replay Link

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Jubouri and the Saudi Ambassador agree to activate the factors of economic and investment development

Read more: http://www.dinarupdates.com/blog/
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The Central Bank strengthens banks in local currencies of small groups

Baghdad / Al-Ghad Press: Called the Central Bank of Iraq on the need to maintain the local currency, pointing to the strengthening of local banks in local currencies of small groups.

He revealed that “the Central Bank has announced a tender for the printing of new banknotes (small categories) in the printing companies of the world.”

Read more: http://www.dinarupdates.com/blog/
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Resolving Erbil-Baghdad Crisis “Big Priority for US”: National Security Advisor

“What happened?” McMaster asked. “You saw the Kurdish Region flourish.”

He valued the developments in Kurdistan Region and said, “It’s a miracle, almost, what happened in Northern Iraq in terms of beautiful cities in Sulaimani, Erbil, and Dohuk.”

Read more: http://www.dinarupdates.com/blog/

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Iraq emerges from Chapter VII and the “oil for food”

Iraq ended Saturday with a decision by the Security Council to withdraw from Chapter VII of the oil-for-food program imposed on it since the 1990s.

BGG ~ Obviously, this is very big news, however…

Is Iraq being FULLY removed from the UN Ch 7 Charter (as in – all UNSC oversight)?

(BTW – the sanctions and “the UNSC Charter” may well be two related but different functions)

The wording is still a bit murky for me…

There are some “tensing”, translation and direct reference issues I would like to see cleared up.

It’s not entirely clear they are officially clear of Ch 7 entirely. In many of the articles and interviews, it appears (to me) as though this is referring to the Oil-for-Food program as an individual issue… apart from the UNSC overall function.

I have said repeatedly – I’m not sure they will release Iraq from their UNSC Ch 7 oversight anytime in the near future. This would greatly limit the UN’s ability to come and go (within Iraq’s borders) as they see fit.

Though the UN appears to be pushing Iraq forward rapidly, I am dubious they give up a big tool in their fight against terrorism in the region.

Does Iraq have to be fully released from the UN Ch 7 charter (the protection portion) to progress to where we would like them to? I believe not. JMHO.

Worst case – they are released from the Oil-for-Food portion of the UN Ch 7 sanctions – which is the last of the active CH 7 sanctions and allows them to sell oil more freely on the open market. Great. Huge move forward.

I am going to be somewhat reserved until a official U.N. announcement of a full release from CH 7.

It’s also curious how they managed to hold an international bond offering without this previously and were successful??

My advice – NO MATTER WHAT… calm down. There is an extraordinary amount of jumping from A to B to Z in the community right now. None of the assumptions have to be correct. Relax – wait for the facts.

Don’t add to the “internet hysteria” going on right now…

______________________________________________________________

Image result for UN pics SECURITY COUNCIL
8126TH MEETING (AM)

All Measures Imposed under Iraq Oil-for-Food Programme Implemented in Full, Security Council Concludes, Unanimously Adopting Resolution 2390 (2017)

The meeting started at 9:45 a.m. and ended at 9:48 a.m.

Resolution

The full text of resolution 2390 (2017) reads as follows:

“The Security Council,

“Recalling its resolutions 1958 (2010) and 2335 (2016),

“Acknowledging receipt of the final report of the Secretary-General pursuant to paragraph 4 of Security Council resolution 2335 (2016), S/2017/820,

“1. Welcomes the implementing arrangements entered into by the Secretary-General and the Government of Iraq as requested in paragraph 7 of Security Council resolution 1958 (2010);

Read more: http://www.dinarupdates.com/blog/
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Masoum calls for the unification of the Iraqi banking system to promote economic reality

President Fuad Masum called on Thursday for the unification of the Iraqi banking system in all parts of the country in order to promote economic reality.

“President Fuad Masum received at the Peace Palace in Baghdad on Thursday, the governor of the Central Bank Ali al-Aalak,” said a statement by the president of the republic.

Read more: http://www.dinarupdates.com/blog/
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Governor of the Central Bank of the first economic profile for 2017

Read more: http://www.dinarupdates.com/blog/
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The role of scientific research in developing the reality of the Iraqi economy

Read more: http://www.dinarupdates.com/blog/
______________________________________________________________

Follow us on twitter @DinarUpdates !!

Dinar Updates – Q & A Call – with BGG from Nov 8th – 8:00 pm Conference Call Phone # 641-715-3639 pin #528733

11/08 – Recorded Call Replay Link

______________________________________________________________

Where is the Iraqi economy?

Read more: http://www.dinarupdates.com/blog/
______________________________________________________________

______________________________________________________________

Follow us on twitter @DinarUpdates !!

Dinar Updates – Q & A Call – with BGG from Nov 8th – 8:00 pm Conference Call Phone # 641-715-3639 pin #528733

11/08 – Recorded Call Replay Link

______________________________________________________________

Post RV Checklist (it’s getting to be that time!! Listen up!!)

Dos and Don’ts of Windfall Wealth:

Treat it like a PowerBall win

– Tell no one, not even family. If you must talk, do so with one who is already in the know.

– Don’t run out & buy new “stuff”. People notice.

– Get an unpublished number and give it out very sparingly.

– Get a tax accountant you can trust to make sure the IRS is satisfied (Certified Opinion is something to look into) and pursue asset protection…

If you found this blog, our website or chats helpful – Forward it to a friend!! We couldn’t do it without you!! Thanks – BGG!!

www.DinarUpdates.com

DINAR OBSERVER DAILY – Feb. 11th

Posted on February 11, 2018 by The Dinar Observer

Tilerson begins a regional tour of Iraq reconstruction conference

The official opening of the conference will be on February 14 in the presence of the Kuwaiti Emir and Prime Minister Haider al-Abadi.

The Turkish daily Yeni Shafak said that “next Tuesday, US Secretary of State Rex Talerson will visit Ankara and will be preceded by his national security adviser Herbert McMaster.”

Read more: http://www.dinarupdates.com/blog/
____________________________________________________________

Sources: away from the Kurds National Alliance and the Union of forces agree to pass the budget

Image result for picture of Kurdish National Alliance

Read more: http://www.dinarupdates.com/blog/
____________________________________________________________

Former minister: $ 500 billion will return to the state by applying the law “Where do you get this”

The House of Representatives on Saturday, during the session of the House of Representatives first reading of the proposed law on graft “Where you get this.”

“Former Minister of Water Resources Mohsen al-Shammari, it is likely to recover 500 billion dollars to the state treasury if the law applies” Where do you get this? “…

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

BGG ~ 500 Billion USD is an awful lot of money… especially when you consider Iraq is only asking for 100 Billion for their COMPLETE rebuilding process.

This is the size and scope of their corruption problem. This bill will be a problem. Everyone voting on it is crooked. Kinda’ like trying to get term limits passed here.

____________________________________________________________

Masoum stresses Iraq's urgent need for a solid and open economy

Masoum stresses Iraq’s urgent need for a solid and open economy

{Baghdad: Al-Furat News} President Fuad Masum, stressed the urgent need of Iraq to build a solid economy.

Read More: http://www.dinarupdates.com/blog/
____________________________________________________________

Special for change .. Abadi of parliament: the international community will not help Iraq if the budget is not approved

Quoting the channel of change .. Abadi of parliament: the international community will not help Iraq if the budget is not approved

Altahreernews.com

BGG ~ Oh wow. We’ll this pretty much spells it out. However, keep in mind – this is likely Abadi talking TO his Parliament, urging them to adopt their budget.

When I initially started down this line of reasoning, I had no idea international sentiment was as tough as it appears to be. WOW!!

The UN, IMF and WB all appear to want to support Iraq in the worst way – but it also very much appears there are results that are yet required.

P.S. This might also explain this very direct, “hands on” push by Abadi to get the budget done.

We wait and watch.

____________________________________________________________

Al-Alusi: Donor countries will not pay one dirham to a corrupt government

Special Mawazine News – Parliamentarian Mithal al-Alusi said on Tuesday that donor countries would not pay one dirham to a government accused of corruption.

“The donor countries can not be assured of their support at the donor conference to be held in Kuwait next month,” Alusi told Mawazine News.

“Those countries will not give Iraq a single dirham, because the government and the conservatives are accused of corruption,” he said.

“The states have informed the Iraqi government and politicians (we will not give you money because you are not trustworthy),” Alusi said.

The government has earlier announced efforts to coordinate with the Kuwaiti government to invite more than 70 countries to the donors conference scheduled to be held in Kuwait in February.

Source

Paul Moseley – “BGG YOU HIT THE NAIL ON THE HEAD”!!

BGG ~ Another accurate portrayal in the news. That is all. Thank you though 🙂

I have been talking the last however long about what Abadi needs to do along the lines of a real fight against corruption and why. Then I came out and did a fairly long dissertation on the matter. Some people didn’t like what I had to say… I only call it the way I see it.

Then this came out today…

…”Those countries will not give Iraq a single dirham, because the government and the conservatives are accused of corruption,” he said…

This might explain the less-than-luke-warm response Abadi got while at Davos.

____________________________________________________________

Abadi’s war against corruption must begin with Maliki and his henchmen

Corruption in Iraq has caused severe poverty in Iraq, which led to civil and sectarian strife that caused the extreme damages to the country’s infrastructure.

Shia parties lead corruption…

Read More: http://www.dinarupdates.com/blog/
_____________________________________________________________

BGG ~ When I first started hearing these reports out of Baghdad about this grand “war on corruption” Abadi has planned I was hopeful. I still am. However, there is much to consider. Far more than meets the eye.

This push has been going on since before the end of the fight for Mosul. Abadi started laying out his agenda then. However, one article from last week caused me a little concern, it mentioned Abadi might wait until after the elections to go after “the whales of corruption” (or something along those lines) so it didn’t look like he was doing it for “electoral purposes”. This troubles me some. It seems like a tidy excuse.

The opinion article we lead with today somewhat seeks to goad him into this fight. It might even be hitting on a key point – “Is this all for show”? As in, “election cycle propaganda”. One question I have long had is, “why has it taken this long”? This is a fair point, I think. If Maliki is as corrupt as he is rumored to be, evidence cannot be in short supply…

Read More: http://www.dinarupdates.com/blog/
_____________________________________________________________

Delta (Dinar Guru) – …ONE OF IRAQI CHANNEL ON THE TICKER THEY SAID THAT CBI STRATGEY ON DINAR EXTERNAL EXCHANGE RATE IT WILL 1-1…WOW. WE WILL SEE WHAT NEXT WEEK BRING US…

Be very cautious of this information…
_____________________________________________________________

Abadi: They are on the process of rising the Iraqi economy and create jobs

He explained that “Iraq has become a great success story achieved thanks to the unity of Iraqis, and we are on the way to the process of rising in the Iraqi economy and create jobs.”

Abadi arrived in Switzerland yesterday to participate in the economic forum “Davos” and to mobilize support for Iraq ahead of the reconstruction conference in Kuwait.

Source Link

BGG ~ FYI – Abadi has been the best thing that’s happened to Iraq in the last 2 decades. Is he perfect? No. Are they on track? More than you know. So relax.

From a different translation (same article)… Abadi: “…we are in the process of raising the Iraqi economy and create(ing) jobs…”

What exactly is this process he is speaking of? Does it include monetary and currency reform? I don’t see how it cannot – especially with the clear re-engagement of Iraq with the world markets.

With any luck Abadi will get a lot of credit for their peace and prosperity – Maliki and Barzani will get shut out on May 12th.

_____________________________________________________________

BGG ~ I do not agree with ANY of this commentary…
_____________________________________________________________

Follow us on twitter @DinarUpdates !!

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Jan 2oth – Rec. Dinar News Call
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01/20- Recorded Call Replay Link

_____________________________________________________________

Visit of the Governor of the Central Bank of Iraq Branch Basra

In his visit to the branch of Basra: Governor of the Central Bank confirms the continued support of the banking sector in all of Iraq

The Governor praised the work of the branch staff, stressing that the Iraqi Central Bank support the banking sector working in Iraq.

BGG ~ I am a little curious as to what the bill is that is pictured in this last shot? I have looked around some and can’t seem to come up with an ID on it.

(Update: according to Yahoo images, the note in question appears to be a 1947 10 Dinar note with King Faisal II on it. Probably some commemorative ceremony. Still interesting.)

_____________________________________________________________

BGG ~ “…THERE MUST BE AN AGREEMENT TO BE UNDER…” Really?!? I think not.

_____________________________________________________________

Ten conditions in front of Barzani for the settlement of things

Read More: http://www.dinarupdates.com/blog/
_____________________________________________________________

Follow us on twitter @DinarUpdates !!

Dinar Updates – BGG & the NEWS
Jan 2oth – Rec. Dinar News Call
641-715-3639 pin #932875

01/20- Recorded Call Replay Link

_____________________________________________________________

Abadi directs a message to the Saudi king: This is what we need from you

The Ministry of Planning said Thursday that Prime Minister Haider Abadi sent a letter to King Salman bin Abdul Aziz.

Read more: http://www.dinarupdates.com/blog/
_____________________________________________________________

Follow us on twitter @DinarUpdates !!

Dinar Updates – Q & A Call – with BGG Dec 27th – 8:00 pm Conference Call Phone # 641-715-3640 pin #932875

12/27 – Recorded Call Replay Link

_____________________________________________________________

World Bank: More than 600,000 employees in public companies are redundant

The existence of such proportions of the unemployed was seen as a major obstacle to reform and restructuring.

Read more: http://www.dinarupdates.com/blog/
_____________________________________________________________

The United States will participate with a large delegation at the Kuwait conference for the reconstruction of Iraq

The government estimated that it needed $ 100 billion to rebuild the devastated areas of the ISIS.

Read more: http://www.dinarupdates.com/blog/
_____________________________________________________________

Central Bank Governor Ali Al-Alak expressed his optimism on Monday about the country’s financial situation

Read more: http://www.dinarupdates.com/blog/
_____________________________________________________________

US to participate in Kuwait’s conference for rebuilding Iraq

US Ambassador to Iraq Douglas Silliman has met with Basra governor Assad al-Edani in the governorate, media reports said on Friday.

In a press conference, Silliman confirmed that the US will participate in Kuwait International Conference for Reconstruction of Iraq, slated for February 12-14.

He said that the US will help the Iraqi government in encouraging the global companies to invest in Iraq.

Meanwhile, Edani said that he discussed with Silliman several issues, including the investment and unemployment in the governorate.

During his visit, Silliman will meet several religious minorities to celebrate the International Day of Freedom of worship.

Read more: http://www.dinarupdates.com/blog/
_____________________________________________________________

5.6 quake strikes Iran-Iraq border near Kurdish cities

Read more: http://www.dinarupdates.com/blog/
_____________________________________________________________

Abadi is investigating around 125 individuals accused of smuggling money abroad

Al-Bayati added that “international bodies are working to gather information and have a sufficient database of the funds of these officials and inflated their funds in close periods.”

“The prime minister will give the database to the Iraqi Judicial Commission, which he set up for review, audit of funds and names, and external accounts.”

How to recognize the counterfeit Iraqi currency

[Ayna-Baghdad] The Central Bank of Iraq, issued a design illustration of the Iraqi currency the truth of the counterfeit.

BGG ~ Here are a few obvious points…

1) I find it a little curious all this recent “float vs. no-float” talk in the marketplace lately.

2) Dated today, the CBI decides to put a “how to spot fake currency” memo…

3) Did anyone happen to notice the last 3 notes? I had to go back to my currency and dig out these notes to figure out what they were. That is a 1k, a 500 Dinar and a 250 Dinar note.

WHY IN THE WORLD WOULD THE CBI BOTHER TELLING ANYONE HOW TO SPOT A FAKE 1K, 500 Dinar and 250 Dinar note?? The 1k is worth less than $1 right now… the 500 is about .50 and the 250 is not even worth a quarter!!

Read more: http://www.dinarupdates.com/blog/

_____________________________________________________________

An Iraqi bank economy directs its branches to facilitate the issuance of the MasterCard international card to journalists

Al-Rafidain Bank branches in Baghdad and the provinces to facilitate the procedures of granting the MasterCard card International journalists.

Read more: http://www.dinarupdates.com/blog/
_____________________________________________________________

Rafidain Bank launches an ATM service

Rafidain Bank announced on Friday the launch of the ATM service, which depends on the electronic payment card.

The statement pointed out that ‘this step comes to reduce the theft of citizens.’

Read more: http://www.dinarupdates.com/blog/
_____________________________________________________________

The Central Bank cancels letters of guarantee to exchange companies

“The payment will be by notice of the payment system ( RTGS) of the same amount from the bank account with which these companies are working for the central bank,” the document said.

The document stated that the decision obligates the companies to complete this decision, ie the deposit of 100 million dinars at the end of January.

Read more: http://www.dinarupdates.com/blog/
_____________________________________________________________

Iraq once again Controls own Economy, Free of UN Sanctions

By Adnan Abu Zeed for Al Monitor. Any opinions expressed here are those of the author and do not necessarily reflect the views of Iraq Business News.

The United Nations Security Council (UNSC) has agreed to lift sanctions imposed on Iraq when the country invaded Kuwait 27 years ago.

Read more: http://www.dinarupdates.com/blog/
_____________________________________________________________

Rafidain Bank launches an electronic ATM service

“This step also limits the risk that various segments of citizens will be exposed to theft because the money they carry through this card will not be visible,” the office said.

Read more: http://www.dinarupdates.com/blog/

_____________________________________________________________

Iraq reveals its reserves of hard currency

Iraq’s central bank governor Ali al-Alaq said on Tuesday that the bank’s reserves of foreign currency amounted to $ 48 billion, pointing out that Iraq will not resort to the currency.

“The flotation is difficult to apply in Iraq, considering that the government, de facto, monopoly the offer of the dollar and foreign currencies.”

Read more: http://www.dinarupdates.com/blog/
_____________________________________________________________

Iraq plans to extend a new pipeline to transport Kirkuk oil

He added that “the pipeline length of 350 km and diameter of 48 knots and more than one million barrels per day.”

Read more: http://www.dinarupdates.com/blog/
_____________________________________________________________

Jubouri: the next stage towards economic stability

Read more: http://www.dinarupdates.com/blog/
_____________________________________________________________

Washington and Baghdad are negotiating a long-term US presence in Iraq

The United States and Iraq have recently intensified their talks to keep a section of US troops permanently in the country following the expulsion of armed militants.

Read more: http://www.dinarupdates.com/blog/
_____________________________________________________________

Anti-Government protest continue for third day in some Kurdish cities

6:36 p.m.

Kurdish health officials lower protest death count from 5 to 2

The KRG Ministry of Health and local officials have lowered the death casualty for Tuesday violent protests in the city of Raniya to two, down from five.

He told Rudaw on Wednesday evening that they had “mistakenly calculated” the death casualties as their hospitals were overcrowded by dozens of injured protesters.

Dr. Khals Qadir, the spokesperson for Kurdistan’s Ministry of Health, also told Rudaw on Wednesday that they have recorded only two cases of death from Tuesday’s protests.

BGG ~ These unfolding events are BIG NEWS… Barzani’s “Old Guard” regime is on the verge of collapse. Abadi has been plain in his efforts to protect and help ALL the people of Iraq.

_____________________________________________________________

______________________________________________________________

The resignation of the President of the Parliament of Kurdistan of Iraq and the withdrawal of two parties from the Government of the Territory

The news agency “Reuters” quoting party sources that the President of the Parliament of the Kurdistan region of Iraq, Yousef Mohammed, submitted his resignation.

On the other hand, the Movement for Change and the Kurdistan Islamic Group decided to withdraw from the Kurdistan Regional Government of Iraq.

He added that “the citizens of the Kurdistan region will not bear the most current bad conditions,” pointing out that “the current government failed to manage the region and must leave.”

Read More: http://www.dinarupdates.com/showthread.php?55811-The-resignation-of-the-President-of-the-Parliament-of-Kurdistan-of-Iraq!!
___________________________________________________________

Senior Sunni scholars support Abadi’s push to fight corruption

The Iraqi Jurisprudence Council of Senior Scholars for Preaching and Fatwa declared Monday its support for the measures taken by Prime Minister Haider al-Abadi for fighting corruption.

In a statement, the council said a high-level delegation visited Najaf city on Saturday.

During the visit, Sunni scholars met with a number of Shia scholars.

According to the statement, the Sunni delegation stressed that it stands by the Iraqi prime minister in his push to fight corruption and corrupt officials.

The visit is an important step in the joint cooperation between Sunni and Shia clergies to achieve peaceful coexistence, the statement added.

This comes after Abadi announced he will unveil a list of corrupt officials.

Read More: http://www.dinarupdates.com/blog/
___________________________________________________________

Follow us on twitter @DinarUpdates !!

Dinar Updates – Q & A Call – with BGG from Dec 12th – 8:00 pm Conference Call Phone # 641-715-3639 pin #528733

12/12 – Recorded Call Replay Link

___________________________________________________________

Jubouri and the Saudi Ambassador agree to activate the factors of economic and investment development

Read more: http://www.dinarupdates.com/blog/
___________________________________________________________

The Central Bank strengthens banks in local currencies of small groups

Baghdad / Al-Ghad Press: Called the Central Bank of Iraq on the need to maintain the local currency, pointing to the strengthening of local banks in local currencies of small groups.

He revealed that “the Central Bank has announced a tender for the printing of new banknotes (small categories) in the printing companies of the world.”

Read more: http://www.dinarupdates.com/blog/
___________________________________________________________

Resolving Erbil-Baghdad Crisis “Big Priority for US”: National Security Advisor

“What happened?” McMaster asked. “You saw the Kurdish Region flourish.”

He valued the developments in Kurdistan Region and said, “It’s a miracle, almost, what happened in Northern Iraq in terms of beautiful cities in Sulaimani, Erbil, and Dohuk.”

Read more: http://www.dinarupdates.com/blog/

___________________________________________________________

Iraq emerges from Chapter VII and the “oil for food”

Iraq ended Saturday with a decision by the Security Council to withdraw from Chapter VII of the oil-for-food program imposed on it since the 1990s.

BGG ~ Obviously, this is very big news, however…

Is Iraq being FULLY removed from the UN Ch 7 Charter (as in – all UNSC oversight)?

(BTW – the sanctions and “the UNSC Charter” may well be two related but different functions)

The wording is still a bit murky for me…

There are some “tensing”, translation and direct reference issues I would like to see cleared up.

It’s not entirely clear they are officially clear of Ch 7 entirely. In many of the articles and interviews, it appears (to me) as though this is referring to the Oil-for-Food program as an individual issue… apart from the UNSC overall function.

I have said repeatedly – I’m not sure they will release Iraq from their UNSC Ch 7 oversight anytime in the near future. This would greatly limit the UN’s ability to come and go (within Iraq’s borders) as they see fit.

Though the UN appears to be pushing Iraq forward rapidly, I am dubious they give up a big tool in their fight against terrorism in the region.

Does Iraq have to be fully released from the UN Ch 7 charter (the protection portion) to progress to where we would like them to? I believe not. JMHO.

Worst case – they are released from the Oil-for-Food portion of the UN Ch 7 sanctions – which is the last of the active CH 7 sanctions and allows them to sell oil more freely on the open market. Great. Huge move forward.

I am going to be somewhat reserved until a official U.N. announcement of a full release from CH 7.

It’s also curious how they managed to hold an international bond offering without this previously and were successful??

My advice – NO MATTER WHAT… calm down. There is an extraordinary amount of jumping from A to B to Z in the community right now. None of the assumptions have to be correct. Relax – wait for the facts.

Don’t add to the “internet hysteria” going on right now…

______________________________________________________________

Image result for UN pics SECURITY COUNCIL
8126TH MEETING (AM)

All Measures Imposed under Iraq Oil-for-Food Programme Implemented in Full, Security Council Concludes, Unanimously Adopting Resolution 2390 (2017)

The meeting started at 9:45 a.m. and ended at 9:48 a.m.

Resolution

The full text of resolution 2390 (2017) reads as follows:

“The Security Council,

“Recalling its resolutions 1958 (2010) and 2335 (2016),

“Acknowledging receipt of the final report of the Secretary-General pursuant to paragraph 4 of Security Council resolution 2335 (2016), S/2017/820,

“1. Welcomes the implementing arrangements entered into by the Secretary-General and the Government of Iraq as requested in paragraph 7 of Security Council resolution 1958 (2010);

Read more: http://www.dinarupdates.com/blog/
______________________________________________________________

Masoum calls for the unification of the Iraqi banking system to promote economic reality

President Fuad Masum called on Thursday for the unification of the Iraqi banking system in all parts of the country in order to promote economic reality.

“President Fuad Masum received at the Peace Palace in Baghdad on Thursday, the governor of the Central Bank Ali al-Aalak,” said a statement by the president of the republic.

Read more: http://www.dinarupdates.com/blog/
______________________________________________________________

Governor of the Central Bank of the first economic profile for 2017

Read more: http://www.dinarupdates.com/blog/
______________________________________________________________

The role of scientific research in developing the reality of the Iraqi economy

Read more: http://www.dinarupdates.com/blog/
______________________________________________________________

Follow us on twitter @DinarUpdates !!

Dinar Updates – Q & A Call – with BGG from Nov 8th – 8:00 pm Conference Call Phone # 641-715-3639 pin #528733

11/08 – Recorded Call Replay Link

______________________________________________________________

Where is the Iraqi economy?

Read more: http://www.dinarupdates.com/blog/
______________________________________________________________

______________________________________________________________

Follow us on twitter @DinarUpdates !!

Dinar Updates – Q & A Call – with BGG from Nov 8th – 8:00 pm Conference Call Phone # 641-715-3639 pin #528733

11/08 – Recorded Call Replay Link

______________________________________________________________

Post RV Checklist (it’s getting to be that time!! Listen up!!)

Dos and Don’ts of Windfall Wealth:

Treat it like a PowerBall win

– Tell no one, not even family. If you must talk, do so with one who is already in the know.

– Don’t run out & buy new “stuff”. People notice.

– Get an unpublished number and give it out very sparingly.

– Get a tax accountant you can trust to make sure the IRS is satisfied (Certified Opinion is something to look into) and pursue asset protection…

If you found this blog, our website or chats helpful – Forward it to a friend!! We couldn’t do it without you!! Thanks – BGG!!

www.DinarUpdates.com

DINAR OBSERVER DAILY – Feb. 10th

Posted on February 10, 2018 by The Dinar Observer

Tilerson begins a regional tour of Iraq reconstruction conference

The official opening of the conference will be on February 14 in the presence of the Kuwaiti Emir and Prime Minister Haider al-Abadi.

The Turkish daily Yeni Shafak said that “next Tuesday, US Secretary of State Rex Talerson will visit Ankara and will be preceded by his national security adviser Herbert McMaster.”

Read more: http://www.dinarupdates.com/blog/
____________________________________________________________

Sources: away from the Kurds National Alliance and the Union of forces agree to pass the budget

Image result for picture of Kurdish National Alliance

Read more: http://www.dinarupdates.com/blog/
____________________________________________________________

Former minister: $ 500 billion will return to the state by applying the law “Where do you get this”

The House of Representatives on Saturday, during the session of the House of Representatives first reading of the proposed law on graft “Where you get this.”

“Former Minister of Water Resources Mohsen al-Shammari, it is likely to recover 500 billion dollars to the state treasury if the law applies” Where do you get this? “…

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

BGG ~ 500 Billion USD is an awful lot of money… especially when you consider Iraq is only asking for 100 Billion for their COMPLETE rebuilding process.

This is the size and scope of their corruption problem. This bill will be a problem. Everyone voting on it is crooked. Kinda’ like trying to get term limits passed here.

____________________________________________________________

Masoum stresses Iraq's urgent need for a solid and open economy

Masoum stresses Iraq’s urgent need for a solid and open economy

{Baghdad: Al-Furat News} President Fuad Masum, stressed the urgent need of Iraq to build a solid economy.

Read More: http://www.dinarupdates.com/blog/
____________________________________________________________

Special for change .. Abadi of parliament: the international community will not help Iraq if the budget is not approved

Quoting the channel of change .. Abadi of parliament: the international community will not help Iraq if the budget is not approved

Altahreernews.com

BGG ~ Oh wow. We’ll this pretty much spells it out. However, keep in mind – this is likely Abadi talking TO his Parliament, urging them to adopt their budget.

When I initially started down this line of reasoning, I had no idea international sentiment was as tough as it appears to be. WOW!!

The UN, IMF and WB all appear to want to support Iraq in the worst way – but it also very much appears there are results that are yet required.

P.S. This might also explain this very direct, “hands on” push by Abadi to get the budget done.

We wait and watch.

____________________________________________________________

Al-Alusi: Donor countries will not pay one dirham to a corrupt government

Special Mawazine News – Parliamentarian Mithal al-Alusi said on Tuesday that donor countries would not pay one dirham to a government accused of corruption.

“The donor countries can not be assured of their support at the donor conference to be held in Kuwait next month,” Alusi told Mawazine News.

“Those countries will not give Iraq a single dirham, because the government and the conservatives are accused of corruption,” he said.

“The states have informed the Iraqi government and politicians (we will not give you money because you are not trustworthy),” Alusi said.

The government has earlier announced efforts to coordinate with the Kuwaiti government to invite more than 70 countries to the donors conference scheduled to be held in Kuwait in February.

Source

Paul Moseley – “BGG YOU HIT THE NAIL ON THE HEAD”!!

BGG ~ Another accurate portrayal in the news. That is all. Thank you though 🙂

I have been talking the last however long about what Abadi needs to do along the lines of a real fight against corruption and why. Then I came out and did a fairly long dissertation on the matter. Some people didn’t like what I had to say… I only call it the way I see it.

Then this came out today…

…”Those countries will not give Iraq a single dirham, because the government and the conservatives are accused of corruption,” he said…

This might explain the less-than-luke-warm response Abadi got while at Davos.

____________________________________________________________

Abadi’s war against corruption must begin with Maliki and his henchmen

Corruption in Iraq has caused severe poverty in Iraq, which led to civil and sectarian strife that caused the extreme damages to the country’s infrastructure.

Shia parties lead corruption…

Read More: http://www.dinarupdates.com/blog/
_____________________________________________________________

BGG ~ When I first started hearing these reports out of Baghdad about this grand “war on corruption” Abadi has planned I was hopeful. I still am. However, there is much to consider. Far more than meets the eye.

This push has been going on since before the end of the fight for Mosul. Abadi started laying out his agenda then. However, one article from last week caused me a little concern, it mentioned Abadi might wait until after the elections to go after “the whales of corruption” (or something along those lines) so it didn’t look like he was doing it for “electoral purposes”. This troubles me some. It seems like a tidy excuse.

The opinion article we lead with today somewhat seeks to goad him into this fight. It might even be hitting on a key point – “Is this all for show”? As in, “election cycle propaganda”. One question I have long had is, “why has it taken this long”? This is a fair point, I think. If Maliki is as corrupt as he is rumored to be, evidence cannot be in short supply…

Read More: http://www.dinarupdates.com/blog/
_____________________________________________________________

Delta (Dinar Guru) – …ONE OF IRAQI CHANNEL ON THE TICKER THEY SAID THAT CBI STRATGEY ON DINAR EXTERNAL EXCHANGE RATE IT WILL 1-1…WOW. WE WILL SEE WHAT NEXT WEEK BRING US…

Be very cautious of this information…
_____________________________________________________________

Abadi: They are on the process of rising the Iraqi economy and create jobs

He explained that “Iraq has become a great success story achieved thanks to the unity of Iraqis, and we are on the way to the process of rising in the Iraqi economy and create jobs.”

Abadi arrived in Switzerland yesterday to participate in the economic forum “Davos” and to mobilize support for Iraq ahead of the reconstruction conference in Kuwait.

Source Link

BGG ~ FYI – Abadi has been the best thing that’s happened to Iraq in the last 2 decades. Is he perfect? No. Are they on track? More than you know. So relax.

From a different translation (same article)… Abadi: “…we are in the process of raising the Iraqi economy and create(ing) jobs…”

What exactly is this process he is speaking of? Does it include monetary and currency reform? I don’t see how it cannot – especially with the clear re-engagement of Iraq with the world markets.

With any luck Abadi will get a lot of credit for their peace and prosperity – Maliki and Barzani will get shut out on May 12th.

_____________________________________________________________

BGG ~ I do not agree with ANY of this commentary…
_____________________________________________________________

Follow us on twitter @DinarUpdates !!

Dinar Updates – BGG & the NEWS
Jan 2oth – Rec. Dinar News Call
641-715-3639 pin #932875

01/20- Recorded Call Replay Link

_____________________________________________________________

Visit of the Governor of the Central Bank of Iraq Branch Basra

In his visit to the branch of Basra: Governor of the Central Bank confirms the continued support of the banking sector in all of Iraq

The Governor praised the work of the branch staff, stressing that the Iraqi Central Bank support the banking sector working in Iraq.

BGG ~ I am a little curious as to what the bill is that is pictured in this last shot? I have looked around some and can’t seem to come up with an ID on it.

(Update: according to Yahoo images, the note in question appears to be a 1947 10 Dinar note with King Faisal II on it. Probably some commemorative ceremony. Still interesting.)

_____________________________________________________________

BGG ~ “…THERE MUST BE AN AGREEMENT TO BE UNDER…” Really?!? I think not.

_____________________________________________________________

Ten conditions in front of Barzani for the settlement of things

Read More: http://www.dinarupdates.com/blog/
_____________________________________________________________

Follow us on twitter @DinarUpdates !!

Dinar Updates – BGG & the NEWS
Jan 2oth – Rec. Dinar News Call
641-715-3639 pin #932875

01/20- Recorded Call Replay Link

_____________________________________________________________

Abadi directs a message to the Saudi king: This is what we need from you

The Ministry of Planning said Thursday that Prime Minister Haider Abadi sent a letter to King Salman bin Abdul Aziz.

Read more: http://www.dinarupdates.com/blog/
_____________________________________________________________

Follow us on twitter @DinarUpdates !!

Dinar Updates – Q & A Call – with BGG Dec 27th – 8:00 pm Conference Call Phone # 641-715-3640 pin #932875

12/27 – Recorded Call Replay Link

_____________________________________________________________

World Bank: More than 600,000 employees in public companies are redundant

The existence of such proportions of the unemployed was seen as a major obstacle to reform and restructuring.

Read more: http://www.dinarupdates.com/blog/
_____________________________________________________________

The United States will participate with a large delegation at the Kuwait conference for the reconstruction of Iraq

The government estimated that it needed $ 100 billion to rebuild the devastated areas of the ISIS.

Read more: http://www.dinarupdates.com/blog/
_____________________________________________________________

Central Bank Governor Ali Al-Alak expressed his optimism on Monday about the country’s financial situation

Read more: http://www.dinarupdates.com/blog/
_____________________________________________________________

US to participate in Kuwait’s conference for rebuilding Iraq

US Ambassador to Iraq Douglas Silliman has met with Basra governor Assad al-Edani in the governorate, media reports said on Friday.

In a press conference, Silliman confirmed that the US will participate in Kuwait International Conference for Reconstruction of Iraq, slated for February 12-14.

He said that the US will help the Iraqi government in encouraging the global companies to invest in Iraq.

Meanwhile, Edani said that he discussed with Silliman several issues, including the investment and unemployment in the governorate.

During his visit, Silliman will meet several religious minorities to celebrate the International Day of Freedom of worship.

Read more: http://www.dinarupdates.com/blog/
_____________________________________________________________

5.6 quake strikes Iran-Iraq border near Kurdish cities

Read more: http://www.dinarupdates.com/blog/
_____________________________________________________________

Abadi is investigating around 125 individuals accused of smuggling money abroad

Al-Bayati added that “international bodies are working to gather information and have a sufficient database of the funds of these officials and inflated their funds in close periods.”

“The prime minister will give the database to the Iraqi Judicial Commission, which he set up for review, audit of funds and names, and external accounts.”

How to recognize the counterfeit Iraqi currency

[Ayna-Baghdad] The Central Bank of Iraq, issued a design illustration of the Iraqi currency the truth of the counterfeit.

BGG ~ Here are a few obvious points…

1) I find it a little curious all this recent “float vs. no-float” talk in the marketplace lately.

2) Dated today, the CBI decides to put a “how to spot fake currency” memo…

3) Did anyone happen to notice the last 3 notes? I had to go back to my currency and dig out these notes to figure out what they were. That is a 1k, a 500 Dinar and a 250 Dinar note.

WHY IN THE WORLD WOULD THE CBI BOTHER TELLING ANYONE HOW TO SPOT A FAKE 1K, 500 Dinar and 250 Dinar note?? The 1k is worth less than $1 right now… the 500 is about .50 and the 250 is not even worth a quarter!!

Read more: http://www.dinarupdates.com/blog/

_____________________________________________________________

An Iraqi bank economy directs its branches to facilitate the issuance of the MasterCard international card to journalists

Al-Rafidain Bank branches in Baghdad and the provinces to facilitate the procedures of granting the MasterCard card International journalists.

Read more: http://www.dinarupdates.com/blog/
_____________________________________________________________

Rafidain Bank launches an ATM service

Rafidain Bank announced on Friday the launch of the ATM service, which depends on the electronic payment card.

The statement pointed out that ‘this step comes to reduce the theft of citizens.’

Read more: http://www.dinarupdates.com/blog/
_____________________________________________________________

The Central Bank cancels letters of guarantee to exchange companies

“The payment will be by notice of the payment system ( RTGS) of the same amount from the bank account with which these companies are working for the central bank,” the document said.

The document stated that the decision obligates the companies to complete this decision, ie the deposit of 100 million dinars at the end of January.

Read more: http://www.dinarupdates.com/blog/
_____________________________________________________________

Iraq once again Controls own Economy, Free of UN Sanctions

By Adnan Abu Zeed for Al Monitor. Any opinions expressed here are those of the author and do not necessarily reflect the views of Iraq Business News.

The United Nations Security Council (UNSC) has agreed to lift sanctions imposed on Iraq when the country invaded Kuwait 27 years ago.

Read more: http://www.dinarupdates.com/blog/
_____________________________________________________________

Rafidain Bank launches an electronic ATM service

“This step also limits the risk that various segments of citizens will be exposed to theft because the money they carry through this card will not be visible,” the office said.

Read more: http://www.dinarupdates.com/blog/

_____________________________________________________________

Iraq reveals its reserves of hard currency

Iraq’s central bank governor Ali al-Alaq said on Tuesday that the bank’s reserves of foreign currency amounted to $ 48 billion, pointing out that Iraq will not resort to the currency.

“The flotation is difficult to apply in Iraq, considering that the government, de facto, monopoly the offer of the dollar and foreign currencies.”

Read more: http://www.dinarupdates.com/blog/
_____________________________________________________________

Iraq plans to extend a new pipeline to transport Kirkuk oil

He added that “the pipeline length of 350 km and diameter of 48 knots and more than one million barrels per day.”

Read more: http://www.dinarupdates.com/blog/
_____________________________________________________________

Jubouri: the next stage towards economic stability

Read more: http://www.dinarupdates.com/blog/
_____________________________________________________________

Washington and Baghdad are negotiating a long-term US presence in Iraq

The United States and Iraq have recently intensified their talks to keep a section of US troops permanently in the country following the expulsion of armed militants.

Read more: http://www.dinarupdates.com/blog/
_____________________________________________________________

Anti-Government protest continue for third day in some Kurdish cities

6:36 p.m.

Kurdish health officials lower protest death count from 5 to 2

The KRG Ministry of Health and local officials have lowered the death casualty for Tuesday violent protests in the city of Raniya to two, down from five.

He told Rudaw on Wednesday evening that they had “mistakenly calculated” the death casualties as their hospitals were overcrowded by dozens of injured protesters.

Dr. Khals Qadir, the spokesperson for Kurdistan’s Ministry of Health, also told Rudaw on Wednesday that they have recorded only two cases of death from Tuesday’s protests.

BGG ~ These unfolding events are BIG NEWS… Barzani’s “Old Guard” regime is on the verge of collapse. Abadi has been plain in his efforts to protect and help ALL the people of Iraq.

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The resignation of the President of the Parliament of Kurdistan of Iraq and the withdrawal of two parties from the Government of the Territory

The news agency “Reuters” quoting party sources that the President of the Parliament of the Kurdistan region of Iraq, Yousef Mohammed, submitted his resignation.

On the other hand, the Movement for Change and the Kurdistan Islamic Group decided to withdraw from the Kurdistan Regional Government of Iraq.

He added that “the citizens of the Kurdistan region will not bear the most current bad conditions,” pointing out that “the current government failed to manage the region and must leave.”

Read More: http://www.dinarupdates.com/showthread.php?55811-The-resignation-of-the-President-of-the-Parliament-of-Kurdistan-of-Iraq!!
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Senior Sunni scholars support Abadi’s push to fight corruption

The Iraqi Jurisprudence Council of Senior Scholars for Preaching and Fatwa declared Monday its support for the measures taken by Prime Minister Haider al-Abadi for fighting corruption.

In a statement, the council said a high-level delegation visited Najaf city on Saturday.

During the visit, Sunni scholars met with a number of Shia scholars.

According to the statement, the Sunni delegation stressed that it stands by the Iraqi prime minister in his push to fight corruption and corrupt officials.

The visit is an important step in the joint cooperation between Sunni and Shia clergies to achieve peaceful coexistence, the statement added.

This comes after Abadi announced he will unveil a list of corrupt officials.

Read More: http://www.dinarupdates.com/blog/
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Follow us on twitter @DinarUpdates !!

Dinar Updates – Q & A Call – with BGG from Dec 12th – 8:00 pm Conference Call Phone # 641-715-3639 pin #528733

12/12 – Recorded Call Replay Link

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Jubouri and the Saudi Ambassador agree to activate the factors of economic and investment development

Read more: http://www.dinarupdates.com/blog/
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The Central Bank strengthens banks in local currencies of small groups

Baghdad / Al-Ghad Press: Called the Central Bank of Iraq on the need to maintain the local currency, pointing to the strengthening of local banks in local currencies of small groups.

He revealed that “the Central Bank has announced a tender for the printing of new banknotes (small categories) in the printing companies of the world.”

Read more: http://www.dinarupdates.com/blog/
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Resolving Erbil-Baghdad Crisis “Big Priority for US”: National Security Advisor

“What happened?” McMaster asked. “You saw the Kurdish Region flourish.”

He valued the developments in Kurdistan Region and said, “It’s a miracle, almost, what happened in Northern Iraq in terms of beautiful cities in Sulaimani, Erbil, and Dohuk.”

Read more: http://www.dinarupdates.com/blog/

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Iraq emerges from Chapter VII and the “oil for food”

Iraq ended Saturday with a decision by the Security Council to withdraw from Chapter VII of the oil-for-food program imposed on it since the 1990s.

BGG ~ Obviously, this is very big news, however…

Is Iraq being FULLY removed from the UN Ch 7 Charter (as in – all UNSC oversight)?

(BTW – the sanctions and “the UNSC Charter” may well be two related but different functions)

The wording is still a bit murky for me…

There are some “tensing”, translation and direct reference issues I would like to see cleared up.

It’s not entirely clear they are officially clear of Ch 7 entirely. In many of the articles and interviews, it appears (to me) as though this is referring to the Oil-for-Food program as an individual issue… apart from the UNSC overall function.

I have said repeatedly – I’m not sure they will release Iraq from their UNSC Ch 7 oversight anytime in the near future. This would greatly limit the UN’s ability to come and go (within Iraq’s borders) as they see fit.

Though the UN appears to be pushing Iraq forward rapidly, I am dubious they give up a big tool in their fight against terrorism in the region.

Does Iraq have to be fully released from the UN Ch 7 charter (the protection portion) to progress to where we would like them to? I believe not. JMHO.

Worst case – they are released from the Oil-for-Food portion of the UN Ch 7 sanctions – which is the last of the active CH 7 sanctions and allows them to sell oil more freely on the open market. Great. Huge move forward.

I am going to be somewhat reserved until a official U.N. announcement of a full release from CH 7.

It’s also curious how they managed to hold an international bond offering without this previously and were successful??

My advice – NO MATTER WHAT… calm down. There is an extraordinary amount of jumping from A to B to Z in the community right now. None of the assumptions have to be correct. Relax – wait for the facts.

Don’t add to the “internet hysteria” going on right now…

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Image result for UN pics SECURITY COUNCIL
8126TH MEETING (AM)

All Measures Imposed under Iraq Oil-for-Food Programme Implemented in Full, Security Council Concludes, Unanimously Adopting Resolution 2390 (2017)

The meeting started at 9:45 a.m. and ended at 9:48 a.m.

Resolution

The full text of resolution 2390 (2017) reads as follows:

“The Security Council,

“Recalling its resolutions 1958 (2010) and 2335 (2016),

“Acknowledging receipt of the final report of the Secretary-General pursuant to paragraph 4 of Security Council resolution 2335 (2016), S/2017/820,

“1. Welcomes the implementing arrangements entered into by the Secretary-General and the Government of Iraq as requested in paragraph 7 of Security Council resolution 1958 (2010);

Read more: http://www.dinarupdates.com/blog/
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Masoum calls for the unification of the Iraqi banking system to promote economic reality

President Fuad Masum called on Thursday for the unification of the Iraqi banking system in all parts of the country in order to promote economic reality.

“President Fuad Masum received at the Peace Palace in Baghdad on Thursday, the governor of the Central Bank Ali al-Aalak,” said a statement by the president of the republic.

Read more: http://www.dinarupdates.com/blog/
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Governor of the Central Bank of the first economic profile for 2017

Read more: http://www.dinarupdates.com/blog/
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The role of scientific research in developing the reality of the Iraqi economy

Read more: http://www.dinarupdates.com/blog/
______________________________________________________________

Follow us on twitter @DinarUpdates !!

Dinar Updates – Q & A Call – with BGG from Nov 8th – 8:00 pm Conference Call Phone # 641-715-3639 pin #528733

11/08 – Recorded Call Replay Link

______________________________________________________________

Where is the Iraqi economy?

Read more: http://www.dinarupdates.com/blog/
______________________________________________________________

______________________________________________________________

Follow us on twitter @DinarUpdates !!

Dinar Updates – Q & A Call – with BGG from Nov 8th – 8:00 pm Conference Call Phone # 641-715-3639 pin #528733

11/08 – Recorded Call Replay Link

______________________________________________________________

Post RV Checklist (it’s getting to be that time!! Listen up!!)

Dos and Don’ts of Windfall Wealth:

Treat it like a PowerBall win

– Tell no one, not even family. If you must talk, do so with one who is already in the know.

– Don’t run out & buy new “stuff”. People notice.

– Get an unpublished number and give it out very sparingly.

– Get a tax accountant you can trust to make sure the IRS is satisfied (Certified Opinion is something to look into) and pursue asset protection…

If you found this blog, our website or chats helpful – Forward it to a friend!! We couldn’t do it without you!! Thanks – BGG!!

www.DinarUpdates.com

DINAR OBSERVER DAILY – Feb. 9th

Posted on February 9, 2018 by The Dinar Observer

Tilerson begins a regional tour of Iraq reconstruction conference

The official opening of the conference will be on February 14 in the presence of the Kuwaiti Emir and Prime Minister Haider al-Abadi.

The Turkish daily Yeni Shafak said that “next Tuesday, US Secretary of State Rex Talerson will visit Ankara and will be preceded by his national security adviser Herbert McMaster.”

Read more: http://www.dinarupdates.com/blog/
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Sources: away from the Kurds National Alliance and the Union of forces agree to pass the budget

Image result for picture of Kurdish National Alliance

Read more: http://www.dinarupdates.com/blog/
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Former minister: $ 500 billion will return to the state by applying the law “Where do you get this”

The House of Representatives on Saturday, during the session of the House of Representatives first reading of the proposed law on graft “Where you get this.”

“Former Minister of Water Resources Mohsen al-Shammari, it is likely to recover 500 billion dollars to the state treasury if the law applies” Where do you get this? “…

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

BGG ~ 500 Billion USD is an awful lot of money… especially when you consider Iraq is only asking for 100 Billion for their COMPLETE rebuilding process.

This is the size and scope of their corruption problem. This bill will be a problem. Everyone voting on it is crooked. Kinda’ like trying to get term limits passed here.

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Masoum stresses Iraq's urgent need for a solid and open economy

Masoum stresses Iraq’s urgent need for a solid and open economy

{Baghdad: Al-Furat News} President Fuad Masum, stressed the urgent need of Iraq to build a solid economy.

Read More: http://www.dinarupdates.com/blog/
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Special for change .. Abadi of parliament: the international community will not help Iraq if the budget is not approved

Quoting the channel of change .. Abadi of parliament: the international community will not help Iraq if the budget is not approved

Altahreernews.com

BGG ~ Oh wow. We’ll this pretty much spells it out. However, keep in mind – this is likely Abadi talking TO his Parliament, urging them to adopt their budget.

When I initially started down this line of reasoning, I had no idea international sentiment was as tough as it appears to be. WOW!!

The UN, IMF and WB all appear to want to support Iraq in the worst way – but it also very much appears there are results that are yet required.

P.S. This might also explain this very direct, “hands on” push by Abadi to get the budget done.

We wait and watch.

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Al-Alusi: Donor countries will not pay one dirham to a corrupt government

Special Mawazine News – Parliamentarian Mithal al-Alusi said on Tuesday that donor countries would not pay one dirham to a government accused of corruption.

“The donor countries can not be assured of their support at the donor conference to be held in Kuwait next month,” Alusi told Mawazine News.

“Those countries will not give Iraq a single dirham, because the government and the conservatives are accused of corruption,” he said.

“The states have informed the Iraqi government and politicians (we will not give you money because you are not trustworthy),” Alusi said.

The government has earlier announced efforts to coordinate with the Kuwaiti government to invite more than 70 countries to the donors conference scheduled to be held in Kuwait in February.

Source

Paul Moseley – “BGG YOU HIT THE NAIL ON THE HEAD”!!

BGG ~ Another accurate portrayal in the news. That is all. Thank you though 🙂

I have been talking the last however long about what Abadi needs to do along the lines of a real fight against corruption and why. Then I came out and did a fairly long dissertation on the matter. Some people didn’t like what I had to say… I only call it the way I see it.

Then this came out today…

…”Those countries will not give Iraq a single dirham, because the government and the conservatives are accused of corruption,” he said…

This might explain the less-than-luke-warm response Abadi got while at Davos.

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Abadi’s war against corruption must begin with Maliki and his henchmen

Corruption in Iraq has caused severe poverty in Iraq, which led to civil and sectarian strife that caused the extreme damages to the country’s infrastructure.

Shia parties lead corruption…

Read More: http://www.dinarupdates.com/blog/
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BGG ~ When I first started hearing these reports out of Baghdad about this grand “war on corruption” Abadi has planned I was hopeful. I still am. However, there is much to consider. Far more than meets the eye.

This push has been going on since before the end of the fight for Mosul. Abadi started laying out his agenda then. However, one article from last week caused me a little concern, it mentioned Abadi might wait until after the elections to go after “the whales of corruption” (or something along those lines) so it didn’t look like he was doing it for “electoral purposes”. This troubles me some. It seems like a tidy excuse.

The opinion article we lead with today somewhat seeks to goad him into this fight. It might even be hitting on a key point – “Is this all for show”? As in, “election cycle propaganda”. One question I have long had is, “why has it taken this long”? This is a fair point, I think. If Maliki is as corrupt as he is rumored to be, evidence cannot be in short supply…

Read More: http://www.dinarupdates.com/blog/
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Delta (Dinar Guru) – …ONE OF IRAQI CHANNEL ON THE TICKER THEY SAID THAT CBI STRATGEY ON DINAR EXTERNAL EXCHANGE RATE IT WILL 1-1…WOW. WE WILL SEE WHAT NEXT WEEK BRING US…

Be very cautious of this information…
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Abadi: They are on the process of rising the Iraqi economy and create jobs

He explained that “Iraq has become a great success story achieved thanks to the unity of Iraqis, and we are on the way to the process of rising in the Iraqi economy and create jobs.”

Abadi arrived in Switzerland yesterday to participate in the economic forum “Davos” and to mobilize support for Iraq ahead of the reconstruction conference in Kuwait.

Source Link

BGG ~ FYI – Abadi has been the best thing that’s happened to Iraq in the last 2 decades. Is he perfect? No. Are they on track? More than you know. So relax.

From a different translation (same article)… Abadi: “…we are in the process of raising the Iraqi economy and create(ing) jobs…”

What exactly is this process he is speaking of? Does it include monetary and currency reform? I don’t see how it cannot – especially with the clear re-engagement of Iraq with the world markets.

With any luck Abadi will get a lot of credit for their peace and prosperity – Maliki and Barzani will get shut out on May 12th.

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BGG ~ I do not agree with ANY of this commentary…
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Follow us on twitter @DinarUpdates !!

Dinar Updates – BGG & the NEWS
Jan 2oth – Rec. Dinar News Call
641-715-3639 pin #932875

01/20- Recorded Call Replay Link

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Visit of the Governor of the Central Bank of Iraq Branch Basra

In his visit to the branch of Basra: Governor of the Central Bank confirms the continued support of the banking sector in all of Iraq

The Governor praised the work of the branch staff, stressing that the Iraqi Central Bank support the banking sector working in Iraq.

BGG ~ I am a little curious as to what the bill is that is pictured in this last shot? I have looked around some and can’t seem to come up with an ID on it.

(Update: according to Yahoo images, the note in question appears to be a 1947 10 Dinar note with King Faisal II on it. Probably some commemorative ceremony. Still interesting.)

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BGG ~ “…THERE MUST BE AN AGREEMENT TO BE UNDER…” Really?!? I think not.

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Ten conditions in front of Barzani for the settlement of things

Read More: http://www.dinarupdates.com/blog/
_____________________________________________________________

Follow us on twitter @DinarUpdates !!

Dinar Updates – BGG & the NEWS
Jan 2oth – Rec. Dinar News Call
641-715-3639 pin #932875

01/20- Recorded Call Replay Link

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Abadi directs a message to the Saudi king: This is what we need from you

The Ministry of Planning said Thursday that Prime Minister Haider Abadi sent a letter to King Salman bin Abdul Aziz.

Read more: http://www.dinarupdates.com/blog/
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Follow us on twitter @DinarUpdates !!

Dinar Updates – Q & A Call – with BGG Dec 27th – 8:00 pm Conference Call Phone # 641-715-3640 pin #932875

12/27 – Recorded Call Replay Link

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World Bank: More than 600,000 employees in public companies are redundant

The existence of such proportions of the unemployed was seen as a major obstacle to reform and restructuring.

Read more: http://www.dinarupdates.com/blog/
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The United States will participate with a large delegation at the Kuwait conference for the reconstruction of Iraq

The government estimated that it needed $ 100 billion to rebuild the devastated areas of the ISIS.

Read more: http://www.dinarupdates.com/blog/
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Central Bank Governor Ali Al-Alak expressed his optimism on Monday about the country’s financial situation

Read more: http://www.dinarupdates.com/blog/
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US to participate in Kuwait’s conference for rebuilding Iraq

US Ambassador to Iraq Douglas Silliman has met with Basra governor Assad al-Edani in the governorate, media reports said on Friday.

In a press conference, Silliman confirmed that the US will participate in Kuwait International Conference for Reconstruction of Iraq, slated for February 12-14.

He said that the US will help the Iraqi government in encouraging the global companies to invest in Iraq.

Meanwhile, Edani said that he discussed with Silliman several issues, including the investment and unemployment in the governorate.

During his visit, Silliman will meet several religious minorities to celebrate the International Day of Freedom of worship.

Read more: http://www.dinarupdates.com/blog/
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5.6 quake strikes Iran-Iraq border near Kurdish cities

Read more: http://www.dinarupdates.com/blog/
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Abadi is investigating around 125 individuals accused of smuggling money abroad

Al-Bayati added that “international bodies are working to gather information and have a sufficient database of the funds of these officials and inflated their funds in close periods.”

“The prime minister will give the database to the Iraqi Judicial Commission, which he set up for review, audit of funds and names, and external accounts.”

How to recognize the counterfeit Iraqi currency

[Ayna-Baghdad] The Central Bank of Iraq, issued a design illustration of the Iraqi currency the truth of the counterfeit.

BGG ~ Here are a few obvious points…

1) I find it a little curious all this recent “float vs. no-float” talk in the marketplace lately.

2) Dated today, the CBI decides to put a “how to spot fake currency” memo…

3) Did anyone happen to notice the last 3 notes? I had to go back to my currency and dig out these notes to figure out what they were. That is a 1k, a 500 Dinar and a 250 Dinar note.

WHY IN THE WORLD WOULD THE CBI BOTHER TELLING ANYONE HOW TO SPOT A FAKE 1K, 500 Dinar and 250 Dinar note?? The 1k is worth less than $1 right now… the 500 is about .50 and the 250 is not even worth a quarter!!

Read more: http://www.dinarupdates.com/blog/

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An Iraqi bank economy directs its branches to facilitate the issuance of the MasterCard international card to journalists

Al-Rafidain Bank branches in Baghdad and the provinces to facilitate the procedures of granting the MasterCard card International journalists.

Read more: http://www.dinarupdates.com/blog/
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Rafidain Bank launches an ATM service

Rafidain Bank announced on Friday the launch of the ATM service, which depends on the electronic payment card.

The statement pointed out that ‘this step comes to reduce the theft of citizens.’

Read more: http://www.dinarupdates.com/blog/
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The Central Bank cancels letters of guarantee to exchange companies

“The payment will be by notice of the payment system ( RTGS) of the same amount from the bank account with which these companies are working for the central bank,” the document said.

The document stated that the decision obligates the companies to complete this decision, ie the deposit of 100 million dinars at the end of January.

Read more: http://www.dinarupdates.com/blog/
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Iraq once again Controls own Economy, Free of UN Sanctions

By Adnan Abu Zeed for Al Monitor. Any opinions expressed here are those of the author and do not necessarily reflect the views of Iraq Business News.

The United Nations Security Council (UNSC) has agreed to lift sanctions imposed on Iraq when the country invaded Kuwait 27 years ago.

Read more: http://www.dinarupdates.com/blog/
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Rafidain Bank launches an electronic ATM service

“This step also limits the risk that various segments of citizens will be exposed to theft because the money they carry through this card will not be visible,” the office said.

Read more: http://www.dinarupdates.com/blog/

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Iraq reveals its reserves of hard currency

Iraq’s central bank governor Ali al-Alaq said on Tuesday that the bank’s reserves of foreign currency amounted to $ 48 billion, pointing out that Iraq will not resort to the currency.

“The flotation is difficult to apply in Iraq, considering that the government, de facto, monopoly the offer of the dollar and foreign currencies.”

Read more: http://www.dinarupdates.com/blog/
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Iraq plans to extend a new pipeline to transport Kirkuk oil

He added that “the pipeline length of 350 km and diameter of 48 knots and more than one million barrels per day.”

Read more: http://www.dinarupdates.com/blog/
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Jubouri: the next stage towards economic stability

Read more: http://www.dinarupdates.com/blog/
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Washington and Baghdad are negotiating a long-term US presence in Iraq

The United States and Iraq have recently intensified their talks to keep a section of US troops permanently in the country following the expulsion of armed militants.

Read more: http://www.dinarupdates.com/blog/
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Anti-Government protest continue for third day in some Kurdish cities

6:36 p.m.

Kurdish health officials lower protest death count from 5 to 2

The KRG Ministry of Health and local officials have lowered the death casualty for Tuesday violent protests in the city of Raniya to two, down from five.

He told Rudaw on Wednesday evening that they had “mistakenly calculated” the death casualties as their hospitals were overcrowded by dozens of injured protesters.

Dr. Khals Qadir, the spokesperson for Kurdistan’s Ministry of Health, also told Rudaw on Wednesday that they have recorded only two cases of death from Tuesday’s protests.

BGG ~ These unfolding events are BIG NEWS… Barzani’s “Old Guard” regime is on the verge of collapse. Abadi has been plain in his efforts to protect and help ALL the people of Iraq.

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The resignation of the President of the Parliament of Kurdistan of Iraq and the withdrawal of two parties from the Government of the Territory

The news agency “Reuters” quoting party sources that the President of the Parliament of the Kurdistan region of Iraq, Yousef Mohammed, submitted his resignation.

On the other hand, the Movement for Change and the Kurdistan Islamic Group decided to withdraw from the Kurdistan Regional Government of Iraq.

He added that “the citizens of the Kurdistan region will not bear the most current bad conditions,” pointing out that “the current government failed to manage the region and must leave.”

Read More: http://www.dinarupdates.com/showthread.php?55811-The-resignation-of-the-President-of-the-Parliament-of-Kurdistan-of-Iraq!!
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Senior Sunni scholars support Abadi’s push to fight corruption

The Iraqi Jurisprudence Council of Senior Scholars for Preaching and Fatwa declared Monday its support for the measures taken by Prime Minister Haider al-Abadi for fighting corruption.

In a statement, the council said a high-level delegation visited Najaf city on Saturday.

During the visit, Sunni scholars met with a number of Shia scholars.

According to the statement, the Sunni delegation stressed that it stands by the Iraqi prime minister in his push to fight corruption and corrupt officials.

The visit is an important step in the joint cooperation between Sunni and Shia clergies to achieve peaceful coexistence, the statement added.

This comes after Abadi announced he will unveil a list of corrupt officials.

Read More: http://www.dinarupdates.com/blog/
___________________________________________________________

Follow us on twitter @DinarUpdates !!

Dinar Updates – Q & A Call – with BGG from Dec 12th – 8:00 pm Conference Call Phone # 641-715-3639 pin #528733

12/12 – Recorded Call Replay Link

___________________________________________________________

Jubouri and the Saudi Ambassador agree to activate the factors of economic and investment development

Read more: http://www.dinarupdates.com/blog/
___________________________________________________________

The Central Bank strengthens banks in local currencies of small groups

Baghdad / Al-Ghad Press: Called the Central Bank of Iraq on the need to maintain the local currency, pointing to the strengthening of local banks in local currencies of small groups.

He revealed that “the Central Bank has announced a tender for the printing of new banknotes (small categories) in the printing companies of the world.”

Read more: http://www.dinarupdates.com/blog/
___________________________________________________________

Resolving Erbil-Baghdad Crisis “Big Priority for US”: National Security Advisor

“What happened?” McMaster asked. “You saw the Kurdish Region flourish.”

He valued the developments in Kurdistan Region and said, “It’s a miracle, almost, what happened in Northern Iraq in terms of beautiful cities in Sulaimani, Erbil, and Dohuk.”

Read more: http://www.dinarupdates.com/blog/

___________________________________________________________

Iraq emerges from Chapter VII and the “oil for food”

Iraq ended Saturday with a decision by the Security Council to withdraw from Chapter VII of the oil-for-food program imposed on it since the 1990s.

BGG ~ Obviously, this is very big news, however…

Is Iraq being FULLY removed from the UN Ch 7 Charter (as in – all UNSC oversight)?

(BTW – the sanctions and “the UNSC Charter” may well be two related but different functions)

The wording is still a bit murky for me…

There are some “tensing”, translation and direct reference issues I would like to see cleared up.

It’s not entirely clear they are officially clear of Ch 7 entirely. In many of the articles and interviews, it appears (to me) as though this is referring to the Oil-for-Food program as an individual issue… apart from the UNSC overall function.

I have said repeatedly – I’m not sure they will release Iraq from their UNSC Ch 7 oversight anytime in the near future. This would greatly limit the UN’s ability to come and go (within Iraq’s borders) as they see fit.

Though the UN appears to be pushing Iraq forward rapidly, I am dubious they give up a big tool in their fight against terrorism in the region.

Does Iraq have to be fully released from the UN Ch 7 charter (the protection portion) to progress to where we would like them to? I believe not. JMHO.

Worst case – they are released from the Oil-for-Food portion of the UN Ch 7 sanctions – which is the last of the active CH 7 sanctions and allows them to sell oil more freely on the open market. Great. Huge move forward.

I am going to be somewhat reserved until a official U.N. announcement of a full release from CH 7.

It’s also curious how they managed to hold an international bond offering without this previously and were successful??

My advice – NO MATTER WHAT… calm down. There is an extraordinary amount of jumping from A to B to Z in the community right now. None of the assumptions have to be correct. Relax – wait for the facts.

Don’t add to the “internet hysteria” going on right now…

______________________________________________________________

Image result for UN pics SECURITY COUNCIL
8126TH MEETING (AM)

All Measures Imposed under Iraq Oil-for-Food Programme Implemented in Full, Security Council Concludes, Unanimously Adopting Resolution 2390 (2017)

The meeting started at 9:45 a.m. and ended at 9:48 a.m.

Resolution

The full text of resolution 2390 (2017) reads as follows:

“The Security Council,

“Recalling its resolutions 1958 (2010) and 2335 (2016),

“Acknowledging receipt of the final report of the Secretary-General pursuant to paragraph 4 of Security Council resolution 2335 (2016), S/2017/820,

“1. Welcomes the implementing arrangements entered into by the Secretary-General and the Government of Iraq as requested in paragraph 7 of Security Council resolution 1958 (2010);

Read more: http://www.dinarupdates.com/blog/
______________________________________________________________

Masoum calls for the unification of the Iraqi banking system to promote economic reality

President Fuad Masum called on Thursday for the unification of the Iraqi banking system in all parts of the country in order to promote economic reality.

“President Fuad Masum received at the Peace Palace in Baghdad on Thursday, the governor of the Central Bank Ali al-Aalak,” said a statement by the president of the republic.

Read more: http://www.dinarupdates.com/blog/
______________________________________________________________

Governor of the Central Bank of the first economic profile for 2017

Read more: http://www.dinarupdates.com/blog/
______________________________________________________________

The role of scientific research in developing the reality of the Iraqi economy

Read more: http://www.dinarupdates.com/blog/
______________________________________________________________

Follow us on twitter @DinarUpdates !!

Dinar Updates – Q & A Call – with BGG from Nov 8th – 8:00 pm Conference Call Phone # 641-715-3639 pin #528733

11/08 – Recorded Call Replay Link

______________________________________________________________

Where is the Iraqi economy?

Read more: http://www.dinarupdates.com/blog/
______________________________________________________________

______________________________________________________________

Follow us on twitter @DinarUpdates !!

Dinar Updates – Q & A Call – with BGG from Nov 8th – 8:00 pm Conference Call Phone # 641-715-3639 pin #528733

11/08 – Recorded Call Replay Link

______________________________________________________________

Post RV Checklist (it’s getting to be that time!! Listen up!!)

Dos and Don’ts of Windfall Wealth:

Treat it like a PowerBall win

– Tell no one, not even family. If you must talk, do so with one who is already in the know.

– Don’t run out & buy new “stuff”. People notice.

– Get an unpublished number and give it out very sparingly.

– Get a tax accountant you can trust to make sure the IRS is satisfied (Certified Opinion is something to look into) and pursue asset protection…

If you found this blog, our website or chats helpful – Forward it to a friend!! We couldn’t do it without you!! Thanks – BGG!!

www.DinarUpdates.com

DINAR OBSERVER DAILY – Feb. 8th

Posted on February 8, 2018 by The Dinar Observer

Tilerson begins a regional tour of Iraq reconstruction conference

The official opening of the conference will be on February 14 in the presence of the Kuwaiti Emir and Prime Minister Haider al-Abadi.

The Turkish daily Yeni Shafak said that “next Tuesday, US Secretary of State Rex Talerson will visit Ankara and will be preceded by his national security adviser Herbert McMaster.”

Read more: http://www.dinarupdates.com/blog/
____________________________________________________________

Sources: away from the Kurds National Alliance and the Union of forces agree to pass the budget

Image result for picture of Kurdish National Alliance

Read more: http://www.dinarupdates.com/blog/
____________________________________________________________

Former minister: $ 500 billion will return to the state by applying the law “Where do you get this”

The House of Representatives on Saturday, during the session of the House of Representatives first reading of the proposed law on graft “Where you get this.”

“Former Minister of Water Resources Mohsen al-Shammari, it is likely to recover 500 billion dollars to the state treasury if the law applies” Where do you get this? “…

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

BGG ~ 500 Billion USD is an awful lot of money… especially when you consider Iraq is only asking for 100 Billion for their COMPLETE rebuilding process.

This is the size and scope of their corruption problem. This bill will be a problem. Everyone voting on it is crooked. Kinda’ like trying to get term limits passed here.

____________________________________________________________

Masoum stresses Iraq's urgent need for a solid and open economy

Masoum stresses Iraq’s urgent need for a solid and open economy

{Baghdad: Al-Furat News} President Fuad Masum, stressed the urgent need of Iraq to build a solid economy.

Read More: http://www.dinarupdates.com/blog/
____________________________________________________________

Special for change .. Abadi of parliament: the international community will not help Iraq if the budget is not approved

Quoting the channel of change .. Abadi of parliament: the international community will not help Iraq if the budget is not approved

Altahreernews.com

BGG ~ Oh wow. We’ll this pretty much spells it out. However, keep in mind – this is likely Abadi talking TO his Parliament, urging them to adopt their budget.

When I initially started down this line of reasoning, I had no idea international sentiment was as tough as it appears to be. WOW!!

The UN, IMF and WB all appear to want to support Iraq in the worst way – but it also very much appears there are results that are yet required.

P.S. This might also explain this very direct, “hands on” push by Abadi to get the budget done.

We wait and watch.

____________________________________________________________

Al-Alusi: Donor countries will not pay one dirham to a corrupt government

Special Mawazine News – Parliamentarian Mithal al-Alusi said on Tuesday that donor countries would not pay one dirham to a government accused of corruption.

“The donor countries can not be assured of their support at the donor conference to be held in Kuwait next month,” Alusi told Mawazine News.

“Those countries will not give Iraq a single dirham, because the government and the conservatives are accused of corruption,” he said.

“The states have informed the Iraqi government and politicians (we will not give you money because you are not trustworthy),” Alusi said.

The government has earlier announced efforts to coordinate with the Kuwaiti government to invite more than 70 countries to the donors conference scheduled to be held in Kuwait in February.

Source

Paul Moseley – “BGG YOU HIT THE NAIL ON THE HEAD”!!

BGG ~ Another accurate portrayal in the news. That is all. Thank you though 🙂

I have been talking the last however long about what Abadi needs to do along the lines of a real fight against corruption and why. Then I came out and did a fairly long dissertation on the matter. Some people didn’t like what I had to say… I only call it the way I see it.

Then this came out today…

…”Those countries will not give Iraq a single dirham, because the government and the conservatives are accused of corruption,” he said…

This might explain the less-than-luke-warm response Abadi got while at Davos.

____________________________________________________________

Abadi’s war against corruption must begin with Maliki and his henchmen

Corruption in Iraq has caused severe poverty in Iraq, which led to civil and sectarian strife that caused the extreme damages to the country’s infrastructure.

Shia parties lead corruption…

Read More: http://www.dinarupdates.com/blog/
_____________________________________________________________

BGG ~ When I first started hearing these reports out of Baghdad about this grand “war on corruption” Abadi has planned I was hopeful. I still am. However, there is much to consider. Far more than meets the eye.

This push has been going on since before the end of the fight for Mosul. Abadi started laying out his agenda then. However, one article from last week caused me a little concern, it mentioned Abadi might wait until after the elections to go after “the whales of corruption” (or something along those lines) so it didn’t look like he was doing it for “electoral purposes”. This troubles me some. It seems like a tidy excuse.

The opinion article we lead with today somewhat seeks to goad him into this fight. It might even be hitting on a key point – “Is this all for show”? As in, “election cycle propaganda”. One question I have long had is, “why has it taken this long”? This is a fair point, I think. If Maliki is as corrupt as he is rumored to be, evidence cannot be in short supply…

Read More: http://www.dinarupdates.com/blog/
_____________________________________________________________

Delta (Dinar Guru) – …ONE OF IRAQI CHANNEL ON THE TICKER THEY SAID THAT CBI STRATGEY ON DINAR EXTERNAL EXCHANGE RATE IT WILL 1-1…WOW. WE WILL SEE WHAT NEXT WEEK BRING US…

Be very cautious of this information…
_____________________________________________________________

Abadi: They are on the process of rising the Iraqi economy and create jobs

He explained that “Iraq has become a great success story achieved thanks to the unity of Iraqis, and we are on the way to the process of rising in the Iraqi economy and create jobs.”

Abadi arrived in Switzerland yesterday to participate in the economic forum “Davos” and to mobilize support for Iraq ahead of the reconstruction conference in Kuwait.

Source Link

BGG ~ FYI – Abadi has been the best thing that’s happened to Iraq in the last 2 decades. Is he perfect? No. Are they on track? More than you know. So relax.

From a different translation (same article)… Abadi: “…we are in the process of raising the Iraqi economy and create(ing) jobs…”

What exactly is this process he is speaking of? Does it include monetary and currency reform? I don’t see how it cannot – especially with the clear re-engagement of Iraq with the world markets.

With any luck Abadi will get a lot of credit for their peace and prosperity – Maliki and Barzani will get shut out on May 12th.

_____________________________________________________________

BGG ~ I do not agree with ANY of this commentary…
_____________________________________________________________

Follow us on twitter @DinarUpdates !!

Dinar Updates – BGG & the NEWS
Jan 2oth – Rec. Dinar News Call
641-715-3639 pin #932875

01/20- Recorded Call Replay Link

_____________________________________________________________

Visit of the Governor of the Central Bank of Iraq Branch Basra

In his visit to the branch of Basra: Governor of the Central Bank confirms the continued support of the banking sector in all of Iraq

The Governor praised the work of the branch staff, stressing that the Iraqi Central Bank support the banking sector working in Iraq.

BGG ~ I am a little curious as to what the bill is that is pictured in this last shot? I have looked around some and can’t seem to come up with an ID on it.

(Update: according to Yahoo images, the note in question appears to be a 1947 10 Dinar note with King Faisal II on it. Probably some commemorative ceremony. Still interesting.)

_____________________________________________________________

BGG ~ “…THERE MUST BE AN AGREEMENT TO BE UNDER…” Really?!? I think not.

_____________________________________________________________

Ten conditions in front of Barzani for the settlement of things

Read More: http://www.dinarupdates.com/blog/
_____________________________________________________________

Follow us on twitter @DinarUpdates !!

Dinar Updates – BGG & the NEWS
Jan 2oth – Rec. Dinar News Call
641-715-3639 pin #932875

01/20- Recorded Call Replay Link

_____________________________________________________________

Abadi directs a message to the Saudi king: This is what we need from you

The Ministry of Planning said Thursday that Prime Minister Haider Abadi sent a letter to King Salman bin Abdul Aziz.

Read more: http://www.dinarupdates.com/blog/
_____________________________________________________________

Follow us on twitter @DinarUpdates !!

Dinar Updates – Q & A Call – with BGG Dec 27th – 8:00 pm Conference Call Phone # 641-715-3640 pin #932875

12/27 – Recorded Call Replay Link

_____________________________________________________________

World Bank: More than 600,000 employees in public companies are redundant

The existence of such proportions of the unemployed was seen as a major obstacle to reform and restructuring.

Read more: http://www.dinarupdates.com/blog/
_____________________________________________________________

The United States will participate with a large delegation at the Kuwait conference for the reconstruction of Iraq

The government estimated that it needed $ 100 billion to rebuild the devastated areas of the ISIS.

Read more: http://www.dinarupdates.com/blog/
_____________________________________________________________

Central Bank Governor Ali Al-Alak expressed his optimism on Monday about the country’s financial situation

Read more: http://www.dinarupdates.com/blog/
_____________________________________________________________

US to participate in Kuwait’s conference for rebuilding Iraq

US Ambassador to Iraq Douglas Silliman has met with Basra governor Assad al-Edani in the governorate, media reports said on Friday.

In a press conference, Silliman confirmed that the US will participate in Kuwait International Conference for Reconstruction of Iraq, slated for February 12-14.

He said that the US will help the Iraqi government in encouraging the global companies to invest in Iraq.

Meanwhile, Edani said that he discussed with Silliman several issues, including the investment and unemployment in the governorate.

During his visit, Silliman will meet several religious minorities to celebrate the International Day of Freedom of worship.

Read more: http://www.dinarupdates.com/blog/
_____________________________________________________________

5.6 quake strikes Iran-Iraq border near Kurdish cities

Read more: http://www.dinarupdates.com/blog/
_____________________________________________________________

Abadi is investigating around 125 individuals accused of smuggling money abroad

Al-Bayati added that “international bodies are working to gather information and have a sufficient database of the funds of these officials and inflated their funds in close periods.”

“The prime minister will give the database to the Iraqi Judicial Commission, which he set up for review, audit of funds and names, and external accounts.”

How to recognize the counterfeit Iraqi currency

[Ayna-Baghdad] The Central Bank of Iraq, issued a design illustration of the Iraqi currency the truth of the counterfeit.

BGG ~ Here are a few obvious points…

1) I find it a little curious all this recent “float vs. no-float” talk in the marketplace lately.

2) Dated today, the CBI decides to put a “how to spot fake currency” memo…

3) Did anyone happen to notice the last 3 notes? I had to go back to my currency and dig out these notes to figure out what they were. That is a 1k, a 500 Dinar and a 250 Dinar note.

WHY IN THE WORLD WOULD THE CBI BOTHER TELLING ANYONE HOW TO SPOT A FAKE 1K, 500 Dinar and 250 Dinar note?? The 1k is worth less than $1 right now… the 500 is about .50 and the 250 is not even worth a quarter!!

Read more: http://www.dinarupdates.com/blog/

_____________________________________________________________

An Iraqi bank economy directs its branches to facilitate the issuance of the MasterCard international card to journalists

Al-Rafidain Bank branches in Baghdad and the provinces to facilitate the procedures of granting the MasterCard card International journalists.

Read more: http://www.dinarupdates.com/blog/
_____________________________________________________________

Rafidain Bank launches an ATM service

Rafidain Bank announced on Friday the launch of the ATM service, which depends on the electronic payment card.

The statement pointed out that ‘this step comes to reduce the theft of citizens.’

Read more: http://www.dinarupdates.com/blog/
_____________________________________________________________

The Central Bank cancels letters of guarantee to exchange companies

“The payment will be by notice of the payment system ( RTGS) of the same amount from the bank account with which these companies are working for the central bank,” the document said.

The document stated that the decision obligates the companies to complete this decision, ie the deposit of 100 million dinars at the end of January.

Read more: http://www.dinarupdates.com/blog/
_____________________________________________________________

Iraq once again Controls own Economy, Free of UN Sanctions

By Adnan Abu Zeed for Al Monitor. Any opinions expressed here are those of the author and do not necessarily reflect the views of Iraq Business News.

The United Nations Security Council (UNSC) has agreed to lift sanctions imposed on Iraq when the country invaded Kuwait 27 years ago.

Read more: http://www.dinarupdates.com/blog/
_____________________________________________________________

Rafidain Bank launches an electronic ATM service

“This step also limits the risk that various segments of citizens will be exposed to theft because the money they carry through this card will not be visible,” the office said.

Read more: http://www.dinarupdates.com/blog/

_____________________________________________________________

Iraq reveals its reserves of hard currency

Iraq’s central bank governor Ali al-Alaq said on Tuesday that the bank’s reserves of foreign currency amounted to $ 48 billion, pointing out that Iraq will not resort to the currency.

“The flotation is difficult to apply in Iraq, considering that the government, de facto, monopoly the offer of the dollar and foreign currencies.”

Read more: http://www.dinarupdates.com/blog/
_____________________________________________________________

Iraq plans to extend a new pipeline to transport Kirkuk oil

He added that “the pipeline length of 350 km and diameter of 48 knots and more than one million barrels per day.”

Read more: http://www.dinarupdates.com/blog/
_____________________________________________________________

Jubouri: the next stage towards economic stability

Read more: http://www.dinarupdates.com/blog/
_____________________________________________________________

Washington and Baghdad are negotiating a long-term US presence in Iraq

The United States and Iraq have recently intensified their talks to keep a section of US troops permanently in the country following the expulsion of armed militants.

Read more: http://www.dinarupdates.com/blog/
_____________________________________________________________

Anti-Government protest continue for third day in some Kurdish cities

6:36 p.m.

Kurdish health officials lower protest death count from 5 to 2

The KRG Ministry of Health and local officials have lowered the death casualty for Tuesday violent protests in the city of Raniya to two, down from five.

He told Rudaw on Wednesday evening that they had “mistakenly calculated” the death casualties as their hospitals were overcrowded by dozens of injured protesters.

Dr. Khals Qadir, the spokesperson for Kurdistan’s Ministry of Health, also told Rudaw on Wednesday that they have recorded only two cases of death from Tuesday’s protests.

BGG ~ These unfolding events are BIG NEWS… Barzani’s “Old Guard” regime is on the verge of collapse. Abadi has been plain in his efforts to protect and help ALL the people of Iraq.

_____________________________________________________________

______________________________________________________________

The resignation of the President of the Parliament of Kurdistan of Iraq and the withdrawal of two parties from the Government of the Territory

The news agency “Reuters” quoting party sources that the President of the Parliament of the Kurdistan region of Iraq, Yousef Mohammed, submitted his resignation.

On the other hand, the Movement for Change and the Kurdistan Islamic Group decided to withdraw from the Kurdistan Regional Government of Iraq.

He added that “the citizens of the Kurdistan region will not bear the most current bad conditions,” pointing out that “the current government failed to manage the region and must leave.”

Read More: http://www.dinarupdates.com/showthread.php?55811-The-resignation-of-the-President-of-the-Parliament-of-Kurdistan-of-Iraq!!
___________________________________________________________

Senior Sunni scholars support Abadi’s push to fight corruption

The Iraqi Jurisprudence Council of Senior Scholars for Preaching and Fatwa declared Monday its support for the measures taken by Prime Minister Haider al-Abadi for fighting corruption.

In a statement, the council said a high-level delegation visited Najaf city on Saturday.

During the visit, Sunni scholars met with a number of Shia scholars.

According to the statement, the Sunni delegation stressed that it stands by the Iraqi prime minister in his push to fight corruption and corrupt officials.

The visit is an important step in the joint cooperation between Sunni and Shia clergies to achieve peaceful coexistence, the statement added.

This comes after Abadi announced he will unveil a list of corrupt officials.

Read More: http://www.dinarupdates.com/blog/
___________________________________________________________

Follow us on twitter @DinarUpdates !!

Dinar Updates – Q & A Call – with BGG from Dec 12th – 8:00 pm Conference Call Phone # 641-715-3639 pin #528733

12/12 – Recorded Call Replay Link

___________________________________________________________

Jubouri and the Saudi Ambassador agree to activate the factors of economic and investment development

Read more: http://www.dinarupdates.com/blog/
___________________________________________________________

The Central Bank strengthens banks in local currencies of small groups

Baghdad / Al-Ghad Press: Called the Central Bank of Iraq on the need to maintain the local currency, pointing to the strengthening of local banks in local currencies of small groups.

He revealed that “the Central Bank has announced a tender for the printing of new banknotes (small categories) in the printing companies of the world.”

Read more: http://www.dinarupdates.com/blog/
___________________________________________________________

Resolving Erbil-Baghdad Crisis “Big Priority for US”: National Security Advisor

“What happened?” McMaster asked. “You saw the Kurdish Region flourish.”

He valued the developments in Kurdistan Region and said, “It’s a miracle, almost, what happened in Northern Iraq in terms of beautiful cities in Sulaimani, Erbil, and Dohuk.”

Read more: http://www.dinarupdates.com/blog/

___________________________________________________________

Iraq emerges from Chapter VII and the “oil for food”

Iraq ended Saturday with a decision by the Security Council to withdraw from Chapter VII of the oil-for-food program imposed on it since the 1990s.

BGG ~ Obviously, this is very big news, however…

Is Iraq being FULLY removed from the UN Ch 7 Charter (as in – all UNSC oversight)?

(BTW – the sanctions and “the UNSC Charter” may well be two related but different functions)

The wording is still a bit murky for me…

There are some “tensing”, translation and direct reference issues I would like to see cleared up.

It’s not entirely clear they are officially clear of Ch 7 entirely. In many of the articles and interviews, it appears (to me) as though this is referring to the Oil-for-Food program as an individual issue… apart from the UNSC overall function.

I have said repeatedly – I’m not sure they will release Iraq from their UNSC Ch 7 oversight anytime in the near future. This would greatly limit the UN’s ability to come and go (within Iraq’s borders) as they see fit.

Though the UN appears to be pushing Iraq forward rapidly, I am dubious they give up a big tool in their fight against terrorism in the region.

Does Iraq have to be fully released from the UN Ch 7 charter (the protection portion) to progress to where we would like them to? I believe not. JMHO.

Worst case – they are released from the Oil-for-Food portion of the UN Ch 7 sanctions – which is the last of the active CH 7 sanctions and allows them to sell oil more freely on the open market. Great. Huge move forward.

I am going to be somewhat reserved until a official U.N. announcement of a full release from CH 7.

It’s also curious how they managed to hold an international bond offering without this previously and were successful??

My advice – NO MATTER WHAT… calm down. There is an extraordinary amount of jumping from A to B to Z in the community right now. None of the assumptions have to be correct. Relax – wait for the facts.

Don’t add to the “internet hysteria” going on right now…

______________________________________________________________

Image result for UN pics SECURITY COUNCIL
8126TH MEETING (AM)

All Measures Imposed under Iraq Oil-for-Food Programme Implemented in Full, Security Council Concludes, Unanimously Adopting Resolution 2390 (2017)

The meeting started at 9:45 a.m. and ended at 9:48 a.m.

Resolution

The full text of resolution 2390 (2017) reads as follows:

“The Security Council,

“Recalling its resolutions 1958 (2010) and 2335 (2016),

“Acknowledging receipt of the final report of the Secretary-General pursuant to paragraph 4 of Security Council resolution 2335 (2016), S/2017/820,

“1. Welcomes the implementing arrangements entered into by the Secretary-General and the Government of Iraq as requested in paragraph 7 of Security Council resolution 1958 (2010);

Read more: http://www.dinarupdates.com/blog/
______________________________________________________________

Masoum calls for the unification of the Iraqi banking system to promote economic reality

President Fuad Masum called on Thursday for the unification of the Iraqi banking system in all parts of the country in order to promote economic reality.

“President Fuad Masum received at the Peace Palace in Baghdad on Thursday, the governor of the Central Bank Ali al-Aalak,” said a statement by the president of the republic.

Read more: http://www.dinarupdates.com/blog/
______________________________________________________________

Governor of the Central Bank of the first economic profile for 2017

Read more: http://www.dinarupdates.com/blog/
______________________________________________________________

The role of scientific research in developing the reality of the Iraqi economy

Read more: http://www.dinarupdates.com/blog/
______________________________________________________________

Follow us on twitter @DinarUpdates !!

Dinar Updates – Q & A Call – with BGG from Nov 8th – 8:00 pm Conference Call Phone # 641-715-3639 pin #528733

11/08 – Recorded Call Replay Link

______________________________________________________________

Where is the Iraqi economy?

Read more: http://www.dinarupdates.com/blog/
______________________________________________________________

______________________________________________________________

Follow us on twitter @DinarUpdates !!

Dinar Updates – Q & A Call – with BGG from Nov 8th – 8:00 pm Conference Call Phone # 641-715-3639 pin #528733

11/08 – Recorded Call Replay Link

______________________________________________________________

Post RV Checklist (it’s getting to be that time!! Listen up!!)

Dos and Don’ts of Windfall Wealth:

Treat it like a PowerBall win

– Tell no one, not even family. If you must talk, do so with one who is already in the know.

– Don’t run out & buy new “stuff”. People notice.

– Get an unpublished number and give it out very sparingly.

– Get a tax accountant you can trust to make sure the IRS is satisfied (Certified Opinion is something to look into) and pursue asset protection…

If you found this blog, our website or chats helpful – Forward it to a friend!! We couldn’t do it without you!! Thanks – BGG!!

www.DinarUpdates.com

DINAR OBSERVER DAILY – Feb. 7th

Posted on February 7, 2018 by The Dinar Observer

Former minister: $ 500 billion will return to the state by applying the law “Where do you get this”

The House of Representatives on Saturday, during the session of the House of Representatives first reading of the proposed law on graft “Where you get this.”

“Former Minister of Water Resources Mohsen al-Shammari, it is likely to recover 500 billion dollars to the state treasury if the law applies” Where do you get this? “…

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

BGG ~ 500 Billion USD is an awful lot of money… especially when you consider Iraq is only asking for 100 Billion for their COMPLETE rebuilding process.

This is the size and scope of their corruption problem. This bill will be a problem. Everyone voting on it is crooked. Kinda’ like trying to get term limits passed here.

____________________________________________________________

Masoum stresses Iraq's urgent need for a solid and open economy

Masoum stresses Iraq’s urgent need for a solid and open economy

{Baghdad: Al-Furat News} President Fuad Masum, stressed the urgent need of Iraq to build a solid economy.

Read More: http://www.dinarupdates.com/blog/
____________________________________________________________

Special for change .. Abadi of parliament: the international community will not help Iraq if the budget is not approved

Quoting the channel of change .. Abadi of parliament: the international community will not help Iraq if the budget is not approved

Altahreernews.com

BGG ~ Oh wow. We’ll this pretty much spells it out. However, keep in mind – this is likely Abadi talking TO his Parliament, urging them to adopt their budget.

When I initially started down this line of reasoning, I had no idea international sentiment was as tough as it appears to be. WOW!!

The UN, IMF and WB all appear to want to support Iraq in the worst way – but it also very much appears there are results that are yet required.

P.S. This might also explain this very direct, “hands on” push by Abadi to get the budget done.

We wait and watch.

____________________________________________________________

Al-Alusi: Donor countries will not pay one dirham to a corrupt government

Special Mawazine News – Parliamentarian Mithal al-Alusi said on Tuesday that donor countries would not pay one dirham to a government accused of corruption.

“The donor countries can not be assured of their support at the donor conference to be held in Kuwait next month,” Alusi told Mawazine News.

“Those countries will not give Iraq a single dirham, because the government and the conservatives are accused of corruption,” he said.

“The states have informed the Iraqi government and politicians (we will not give you money because you are not trustworthy),” Alusi said.

The government has earlier announced efforts to coordinate with the Kuwaiti government to invite more than 70 countries to the donors conference scheduled to be held in Kuwait in February.

Source

Paul Moseley – “BGG YOU HIT THE NAIL ON THE HEAD”!!

BGG ~ Another accurate portrayal in the news. That is all. Thank you though 🙂

I have been talking the last however long about what Abadi needs to do along the lines of a real fight against corruption and why. Then I came out and did a fairly long dissertation on the matter. Some people didn’t like what I had to say… I only call it the way I see it.

Then this came out today…

…”Those countries will not give Iraq a single dirham, because the government and the conservatives are accused of corruption,” he said…

This might explain the less-than-luke-warm response Abadi got while at Davos.

____________________________________________________________

Abadi’s war against corruption must begin with Maliki and his henchmen

Corruption in Iraq has caused severe poverty in Iraq, which led to civil and sectarian strife that caused the extreme damages to the country’s infrastructure.

Shia parties lead corruption…

Read More: http://www.dinarupdates.com/blog/
_____________________________________________________________

BGG ~ When I first started hearing these reports out of Baghdad about this grand “war on corruption” Abadi has planned I was hopeful. I still am. However, there is much to consider. Far more than meets the eye.

This push has been going on since before the end of the fight for Mosul. Abadi started laying out his agenda then. However, one article from last week caused me a little concern, it mentioned Abadi might wait until after the elections to go after “the whales of corruption” (or something along those lines) so it didn’t look like he was doing it for “electoral purposes”. This troubles me some. It seems like a tidy excuse.

The opinion article we lead with today somewhat seeks to goad him into this fight. It might even be hitting on a key point – “Is this all for show”? As in, “election cycle propaganda”. One question I have long had is, “why has it taken this long”? This is a fair point, I think. If Maliki is as corrupt as he is rumored to be, evidence cannot be in short supply…

Read More: http://www.dinarupdates.com/blog/
_____________________________________________________________

Delta (Dinar Guru) – …ONE OF IRAQI CHANNEL ON THE TICKER THEY SAID THAT CBI STRATGEY ON DINAR EXTERNAL EXCHANGE RATE IT WILL 1-1…WOW. WE WILL SEE WHAT NEXT WEEK BRING US…

Be very cautious of this information…
_____________________________________________________________

Abadi: They are on the process of rising the Iraqi economy and create jobs

He explained that “Iraq has become a great success story achieved thanks to the unity of Iraqis, and we are on the way to the process of rising in the Iraqi economy and create jobs.”

Abadi arrived in Switzerland yesterday to participate in the economic forum “Davos” and to mobilize support for Iraq ahead of the reconstruction conference in Kuwait.

Source Link

BGG ~ FYI – Abadi has been the best thing that’s happened to Iraq in the last 2 decades. Is he perfect? No. Are they on track? More than you know. So relax.

From a different translation (same article)… Abadi: “…we are in the process of raising the Iraqi economy and create(ing) jobs…”

What exactly is this process he is speaking of? Does it include monetary and currency reform? I don’t see how it cannot – especially with the clear re-engagement of Iraq with the world markets.

With any luck Abadi will get a lot of credit for their peace and prosperity – Maliki and Barzani will get shut out on May 12th.

_____________________________________________________________

BGG ~ I do not agree with ANY of this commentary…
_____________________________________________________________

Follow us on twitter @DinarUpdates !!

Dinar Updates – BGG & the NEWS
Jan 2oth – Rec. Dinar News Call
641-715-3639 pin #932875

01/20- Recorded Call Replay Link

_____________________________________________________________

Visit of the Governor of the Central Bank of Iraq Branch Basra

In his visit to the branch of Basra: Governor of the Central Bank confirms the continued support of the banking sector in all of Iraq

The Governor praised the work of the branch staff, stressing that the Iraqi Central Bank support the banking sector working in Iraq.

BGG ~ I am a little curious as to what the bill is that is pictured in this last shot? I have looked around some and can’t seem to come up with an ID on it.

(Update: according to Yahoo images, the note in question appears to be a 1947 10 Dinar note with King Faisal II on it. Probably some commemorative ceremony. Still interesting.)

_____________________________________________________________

BGG ~ “…THERE MUST BE AN AGREEMENT TO BE UNDER…” Really?!? I think not.

_____________________________________________________________

Ten conditions in front of Barzani for the settlement of things

Read More: http://www.dinarupdates.com/blog/
_____________________________________________________________

Follow us on twitter @DinarUpdates !!

Dinar Updates – BGG & the NEWS
Jan 2oth – Rec. Dinar News Call
641-715-3639 pin #932875

01/20- Recorded Call Replay Link

_____________________________________________________________

Abadi directs a message to the Saudi king: This is what we need from you

The Ministry of Planning said Thursday that Prime Minister Haider Abadi sent a letter to King Salman bin Abdul Aziz.

Read more: http://www.dinarupdates.com/blog/
_____________________________________________________________

Follow us on twitter @DinarUpdates !!

Dinar Updates – Q & A Call – with BGG Dec 27th – 8:00 pm Conference Call Phone # 641-715-3640 pin #932875

12/27 – Recorded Call Replay Link

_____________________________________________________________

World Bank: More than 600,000 employees in public companies are redundant

The existence of such proportions of the unemployed was seen as a major obstacle to reform and restructuring.

Read more: http://www.dinarupdates.com/blog/
_____________________________________________________________

The United States will participate with a large delegation at the Kuwait conference for the reconstruction of Iraq

The government estimated that it needed $ 100 billion to rebuild the devastated areas of the ISIS.

Read more: http://www.dinarupdates.com/blog/
_____________________________________________________________

Central Bank Governor Ali Al-Alak expressed his optimism on Monday about the country’s financial situation

Read more: http://www.dinarupdates.com/blog/
_____________________________________________________________

US to participate in Kuwait’s conference for rebuilding Iraq

US Ambassador to Iraq Douglas Silliman has met with Basra governor Assad al-Edani in the governorate, media reports said on Friday.

In a press conference, Silliman confirmed that the US will participate in Kuwait International Conference for Reconstruction of Iraq, slated for February 12-14.

He said that the US will help the Iraqi government in encouraging the global companies to invest in Iraq.

Meanwhile, Edani said that he discussed with Silliman several issues, including the investment and unemployment in the governorate.

During his visit, Silliman will meet several religious minorities to celebrate the International Day of Freedom of worship.

Read more: http://www.dinarupdates.com/blog/
_____________________________________________________________

5.6 quake strikes Iran-Iraq border near Kurdish cities

Read more: http://www.dinarupdates.com/blog/
_____________________________________________________________

Abadi is investigating around 125 individuals accused of smuggling money abroad

Al-Bayati added that “international bodies are working to gather information and have a sufficient database of the funds of these officials and inflated their funds in close periods.”

“The prime minister will give the database to the Iraqi Judicial Commission, which he set up for review, audit of funds and names, and external accounts.”

How to recognize the counterfeit Iraqi currency

[Ayna-Baghdad] The Central Bank of Iraq, issued a design illustration of the Iraqi currency the truth of the counterfeit.

BGG ~ Here are a few obvious points…

1) I find it a little curious all this recent “float vs. no-float” talk in the marketplace lately.

2) Dated today, the CBI decides to put a “how to spot fake currency” memo…

3) Did anyone happen to notice the last 3 notes? I had to go back to my currency and dig out these notes to figure out what they were. That is a 1k, a 500 Dinar and a 250 Dinar note.

WHY IN THE WORLD WOULD THE CBI BOTHER TELLING ANYONE HOW TO SPOT A FAKE 1K, 500 Dinar and 250 Dinar note?? The 1k is worth less than $1 right now… the 500 is about .50 and the 250 is not even worth a quarter!!

Read more: http://www.dinarupdates.com/blog/

_____________________________________________________________

An Iraqi bank economy directs its branches to facilitate the issuance of the MasterCard international card to journalists

Al-Rafidain Bank branches in Baghdad and the provinces to facilitate the procedures of granting the MasterCard card International journalists.

Read more: http://www.dinarupdates.com/blog/
_____________________________________________________________

Rafidain Bank launches an ATM service

Rafidain Bank announced on Friday the launch of the ATM service, which depends on the electronic payment card.

The statement pointed out that ‘this step comes to reduce the theft of citizens.’

Read more: http://www.dinarupdates.com/blog/
_____________________________________________________________

The Central Bank cancels letters of guarantee to exchange companies

“The payment will be by notice of the payment system ( RTGS) of the same amount from the bank account with which these companies are working for the central bank,” the document said.

The document stated that the decision obligates the companies to complete this decision, ie the deposit of 100 million dinars at the end of January.

Read more: http://www.dinarupdates.com/blog/
_____________________________________________________________

Iraq once again Controls own Economy, Free of UN Sanctions

By Adnan Abu Zeed for Al Monitor. Any opinions expressed here are those of the author and do not necessarily reflect the views of Iraq Business News.

The United Nations Security Council (UNSC) has agreed to lift sanctions imposed on Iraq when the country invaded Kuwait 27 years ago.

Read more: http://www.dinarupdates.com/blog/
_____________________________________________________________

Rafidain Bank launches an electronic ATM service

“This step also limits the risk that various segments of citizens will be exposed to theft because the money they carry through this card will not be visible,” the office said.

Read more: http://www.dinarupdates.com/blog/

_____________________________________________________________

Iraq reveals its reserves of hard currency

Iraq’s central bank governor Ali al-Alaq said on Tuesday that the bank’s reserves of foreign currency amounted to $ 48 billion, pointing out that Iraq will not resort to the currency.

“The flotation is difficult to apply in Iraq, considering that the government, de facto, monopoly the offer of the dollar and foreign currencies.”

Read more: http://www.dinarupdates.com/blog/
_____________________________________________________________

Iraq plans to extend a new pipeline to transport Kirkuk oil

He added that “the pipeline length of 350 km and diameter of 48 knots and more than one million barrels per day.”

Read more: http://www.dinarupdates.com/blog/
_____________________________________________________________

Jubouri: the next stage towards economic stability

Read more: http://www.dinarupdates.com/blog/
_____________________________________________________________

Washington and Baghdad are negotiating a long-term US presence in Iraq

The United States and Iraq have recently intensified their talks to keep a section of US troops permanently in the country following the expulsion of armed militants.

Read more: http://www.dinarupdates.com/blog/
_____________________________________________________________

Anti-Government protest continue for third day in some Kurdish cities

6:36 p.m.

Kurdish health officials lower protest death count from 5 to 2

The KRG Ministry of Health and local officials have lowered the death casualty for Tuesday violent protests in the city of Raniya to two, down from five.

He told Rudaw on Wednesday evening that they had “mistakenly calculated” the death casualties as their hospitals were overcrowded by dozens of injured protesters.

Dr. Khals Qadir, the spokesperson for Kurdistan’s Ministry of Health, also told Rudaw on Wednesday that they have recorded only two cases of death from Tuesday’s protests.

BGG ~ These unfolding events are BIG NEWS… Barzani’s “Old Guard” regime is on the verge of collapse. Abadi has been plain in his efforts to protect and help ALL the people of Iraq.

_____________________________________________________________

______________________________________________________________

The resignation of the President of the Parliament of Kurdistan of Iraq and the withdrawal of two parties from the Government of the Territory

The news agency “Reuters” quoting party sources that the President of the Parliament of the Kurdistan region of Iraq, Yousef Mohammed, submitted his resignation.

On the other hand, the Movement for Change and the Kurdistan Islamic Group decided to withdraw from the Kurdistan Regional Government of Iraq.

He added that “the citizens of the Kurdistan region will not bear the most current bad conditions,” pointing out that “the current government failed to manage the region and must leave.”

Read More: http://www.dinarupdates.com/showthread.php?55811-The-resignation-of-the-President-of-the-Parliament-of-Kurdistan-of-Iraq!!
___________________________________________________________

Senior Sunni scholars support Abadi’s push to fight corruption

The Iraqi Jurisprudence Council of Senior Scholars for Preaching and Fatwa declared Monday its support for the measures taken by Prime Minister Haider al-Abadi for fighting corruption.

In a statement, the council said a high-level delegation visited Najaf city on Saturday.

During the visit, Sunni scholars met with a number of Shia scholars.

According to the statement, the Sunni delegation stressed that it stands by the Iraqi prime minister in his push to fight corruption and corrupt officials.

The visit is an important step in the joint cooperation between Sunni and Shia clergies to achieve peaceful coexistence, the statement added.

This comes after Abadi announced he will unveil a list of corrupt officials.

Read More: http://www.dinarupdates.com/blog/
___________________________________________________________

Follow us on twitter @DinarUpdates !!

Dinar Updates – Q & A Call – with BGG from Dec 12th – 8:00 pm Conference Call Phone # 641-715-3639 pin #528733

12/12 – Recorded Call Replay Link

___________________________________________________________

Jubouri and the Saudi Ambassador agree to activate the factors of economic and investment development

Read more: http://www.dinarupdates.com/blog/
___________________________________________________________

The Central Bank strengthens banks in local currencies of small groups

Baghdad / Al-Ghad Press: Called the Central Bank of Iraq on the need to maintain the local currency, pointing to the strengthening of local banks in local currencies of small groups.

He revealed that “the Central Bank has announced a tender for the printing of new banknotes (small categories) in the printing companies of the world.”

Read more: http://www.dinarupdates.com/blog/
___________________________________________________________

Resolving Erbil-Baghdad Crisis “Big Priority for US”: National Security Advisor

“What happened?” McMaster asked. “You saw the Kurdish Region flourish.”

He valued the developments in Kurdistan Region and said, “It’s a miracle, almost, what happened in Northern Iraq in terms of beautiful cities in Sulaimani, Erbil, and Dohuk.”

Read more: http://www.dinarupdates.com/blog/

___________________________________________________________

Iraq emerges from Chapter VII and the “oil for food”

Iraq ended Saturday with a decision by the Security Council to withdraw from Chapter VII of the oil-for-food program imposed on it since the 1990s.

BGG ~ Obviously, this is very big news, however…

Is Iraq being FULLY removed from the UN Ch 7 Charter (as in – all UNSC oversight)?

(BTW – the sanctions and “the UNSC Charter” may well be two related but different functions)

The wording is still a bit murky for me…

There are some “tensing”, translation and direct reference issues I would like to see cleared up.

It’s not entirely clear they are officially clear of Ch 7 entirely. In many of the articles and interviews, it appears (to me) as though this is referring to the Oil-for-Food program as an individual issue… apart from the UNSC overall function.

I have said repeatedly – I’m not sure they will release Iraq from their UNSC Ch 7 oversight anytime in the near future. This would greatly limit the UN’s ability to come and go (within Iraq’s borders) as they see fit.

Though the UN appears to be pushing Iraq forward rapidly, I am dubious they give up a big tool in their fight against terrorism in the region.

Does Iraq have to be fully released from the UN Ch 7 charter (the protection portion) to progress to where we would like them to? I believe not. JMHO.

Worst case – they are released from the Oil-for-Food portion of the UN Ch 7 sanctions – which is the last of the active CH 7 sanctions and allows them to sell oil more freely on the open market. Great. Huge move forward.

I am going to be somewhat reserved until a official U.N. announcement of a full release from CH 7.

It’s also curious how they managed to hold an international bond offering without this previously and were successful??

My advice – NO MATTER WHAT… calm down. There is an extraordinary amount of jumping from A to B to Z in the community right now. None of the assumptions have to be correct. Relax – wait for the facts.

Don’t add to the “internet hysteria” going on right now…

______________________________________________________________

Image result for UN pics SECURITY COUNCIL
8126TH MEETING (AM)

All Measures Imposed under Iraq Oil-for-Food Programme Implemented in Full, Security Council Concludes, Unanimously Adopting Resolution 2390 (2017)

The meeting started at 9:45 a.m. and ended at 9:48 a.m.

Resolution

The full text of resolution 2390 (2017) reads as follows:

“The Security Council,

“Recalling its resolutions 1958 (2010) and 2335 (2016),

“Acknowledging receipt of the final report of the Secretary-General pursuant to paragraph 4 of Security Council resolution 2335 (2016), S/2017/820,

“1. Welcomes the implementing arrangements entered into by the Secretary-General and the Government of Iraq as requested in paragraph 7 of Security Council resolution 1958 (2010);

Read more: http://www.dinarupdates.com/blog/
______________________________________________________________

Masoum calls for the unification of the Iraqi banking system to promote economic reality

President Fuad Masum called on Thursday for the unification of the Iraqi banking system in all parts of the country in order to promote economic reality.

“President Fuad Masum received at the Peace Palace in Baghdad on Thursday, the governor of the Central Bank Ali al-Aalak,” said a statement by the president of the republic.

Read more: http://www.dinarupdates.com/blog/
______________________________________________________________

Governor of the Central Bank of the first economic profile for 2017

Read more: http://www.dinarupdates.com/blog/
______________________________________________________________

The role of scientific research in developing the reality of the Iraqi economy

Read more: http://www.dinarupdates.com/blog/
______________________________________________________________

Follow us on twitter @DinarUpdates !!

Dinar Updates – Q & A Call – with BGG from Nov 8th – 8:00 pm Conference Call Phone # 641-715-3639 pin #528733

11/08 – Recorded Call Replay Link

______________________________________________________________

Where is the Iraqi economy?

Read more: http://www.dinarupdates.com/blog/
______________________________________________________________

______________________________________________________________

Follow us on twitter @DinarUpdates !!

Dinar Updates – Q & A Call – with BGG from Nov 8th – 8:00 pm Conference Call Phone # 641-715-3639 pin #528733

11/08 – Recorded Call Replay Link

______________________________________________________________

Post RV Checklist (it’s getting to be that time!! Listen up!!)

Dos and Don’ts of Windfall Wealth:

Treat it like a PowerBall win

– Tell no one, not even family. If you must talk, do so with one who is already in the know.

– Don’t run out & buy new “stuff”. People notice.

– Get an unpublished number and give it out very sparingly.

– Get a tax accountant you can trust to make sure the IRS is satisfied (Certified Opinion is something to look into) and pursue asset protection…

If you found this blog, our website or chats helpful – Forward it to a friend!! We couldn’t do it without you!! Thanks – BGG!!

www.DinarUpdates.com

DINAR OBSERVER DAILY – Feb. 6th

Posted on February 6, 2018 by The Dinar Observer

Former minister: $ 500 billion will return to the state by applying the law “Where do you get this”

The House of Representatives on Saturday, during the session of the House of Representatives first reading of the proposed law on graft “Where you get this.”

“Former Minister of Water Resources Mohsen al-Shammari, it is likely to recover 500 billion dollars to the state treasury if the law applies” Where do you get this? “…

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

BGG ~ 500 Billion USD is an awful lot of money… especially when you consider Iraq is only asking for 100 Billion for their COMPLETE rebuilding process.

This is the size and scope of their corruption problem. This bill will be a problem. Everyone voting on it is crooked. Kinda’ like trying to get term limits passed here.

____________________________________________________________

Masoum stresses Iraq's urgent need for a solid and open economy

Masoum stresses Iraq’s urgent need for a solid and open economy

{Baghdad: Al-Furat News} President Fuad Masum, stressed the urgent need of Iraq to build a solid economy.

Read More: http://www.dinarupdates.com/blog/
____________________________________________________________

Special for change .. Abadi of parliament: the international community will not help Iraq if the budget is not approved

Quoting the channel of change .. Abadi of parliament: the international community will not help Iraq if the budget is not approved

Altahreernews.com

BGG ~ Oh wow. We’ll this pretty much spells it out. However, keep in mind – this is likely Abadi talking TO his Parliament, urging them to adopt their budget.

When I initially started down this line of reasoning, I had no idea international sentiment was as tough as it appears to be. WOW!!

The UN, IMF and WB all appear to want to support Iraq in the worst way – but it also very much appears there are results that are yet required.

P.S. This might also explain this very direct, “hands on” push by Abadi to get the budget done.

We wait and watch.

____________________________________________________________

Al-Alusi: Donor countries will not pay one dirham to a corrupt government

Special Mawazine News – Parliamentarian Mithal al-Alusi said on Tuesday that donor countries would not pay one dirham to a government accused of corruption.

“The donor countries can not be assured of their support at the donor conference to be held in Kuwait next month,” Alusi told Mawazine News.

“Those countries will not give Iraq a single dirham, because the government and the conservatives are accused of corruption,” he said.

“The states have informed the Iraqi government and politicians (we will not give you money because you are not trustworthy),” Alusi said.

The government has earlier announced efforts to coordinate with the Kuwaiti government to invite more than 70 countries to the donors conference scheduled to be held in Kuwait in February.

Source

Paul Moseley – “BGG YOU HIT THE NAIL ON THE HEAD”!!

BGG ~ Another accurate portrayal in the news. That is all. Thank you though 🙂

I have been talking the last however long about what Abadi needs to do along the lines of a real fight against corruption and why. Then I came out and did a fairly long dissertation on the matter. Some people didn’t like what I had to say… I only call it the way I see it.

Then this came out today…

…”Those countries will not give Iraq a single dirham, because the government and the conservatives are accused of corruption,” he said…

This might explain the less-than-luke-warm response Abadi got while at Davos.

____________________________________________________________

Abadi’s war against corruption must begin with Maliki and his henchmen

Corruption in Iraq has caused severe poverty in Iraq, which led to civil and sectarian strife that caused the extreme damages to the country’s infrastructure.

Shia parties lead corruption…

Read More: http://www.dinarupdates.com/blog/
_____________________________________________________________

BGG ~ When I first started hearing these reports out of Baghdad about this grand “war on corruption” Abadi has planned I was hopeful. I still am. However, there is much to consider. Far more than meets the eye.

This push has been going on since before the end of the fight for Mosul. Abadi started laying out his agenda then. However, one article from last week caused me a little concern, it mentioned Abadi might wait until after the elections to go after “the whales of corruption” (or something along those lines) so it didn’t look like he was doing it for “electoral purposes”. This troubles me some. It seems like a tidy excuse.

The opinion article we lead with today somewhat seeks to goad him into this fight. It might even be hitting on a key point – “Is this all for show”? As in, “election cycle propaganda”. One question I have long had is, “why has it taken this long”? This is a fair point, I think. If Maliki is as corrupt as he is rumored to be, evidence cannot be in short supply…

Read More: http://www.dinarupdates.com/blog/
_____________________________________________________________

Delta (Dinar Guru) – …ONE OF IRAQI CHANNEL ON THE TICKER THEY SAID THAT CBI STRATGEY ON DINAR EXTERNAL EXCHANGE RATE IT WILL 1-1…WOW. WE WILL SEE WHAT NEXT WEEK BRING US…

Be very cautious of this information…
_____________________________________________________________

Abadi: They are on the process of rising the Iraqi economy and create jobs

He explained that “Iraq has become a great success story achieved thanks to the unity of Iraqis, and we are on the way to the process of rising in the Iraqi economy and create jobs.”

Abadi arrived in Switzerland yesterday to participate in the economic forum “Davos” and to mobilize support for Iraq ahead of the reconstruction conference in Kuwait.

Source Link

BGG ~ FYI – Abadi has been the best thing that’s happened to Iraq in the last 2 decades. Is he perfect? No. Are they on track? More than you know. So relax.

From a different translation (same article)… Abadi: “…we are in the process of raising the Iraqi economy and create(ing) jobs…”

What exactly is this process he is speaking of? Does it include monetary and currency reform? I don’t see how it cannot – especially with the clear re-engagement of Iraq with the world markets.

With any luck Abadi will get a lot of credit for their peace and prosperity – Maliki and Barzani will get shut out on May 12th.

_____________________________________________________________

BGG ~ I do not agree with ANY of this commentary…
_____________________________________________________________

Follow us on twitter @DinarUpdates !!

Dinar Updates – BGG & the NEWS
Jan 2oth – Rec. Dinar News Call
641-715-3639 pin #932875

01/20- Recorded Call Replay Link

_____________________________________________________________

Visit of the Governor of the Central Bank of Iraq Branch Basra

In his visit to the branch of Basra: Governor of the Central Bank confirms the continued support of the banking sector in all of Iraq

The Governor praised the work of the branch staff, stressing that the Iraqi Central Bank support the banking sector working in Iraq.

BGG ~ I am a little curious as to what the bill is that is pictured in this last shot? I have looked around some and can’t seem to come up with an ID on it.

(Update: according to Yahoo images, the note in question appears to be a 1947 10 Dinar note with King Faisal II on it. Probably some commemorative ceremony. Still interesting.)

_____________________________________________________________

BGG ~ “…THERE MUST BE AN AGREEMENT TO BE UNDER…” Really?!? I think not.

_____________________________________________________________

Ten conditions in front of Barzani for the settlement of things

Read More: http://www.dinarupdates.com/blog/
_____________________________________________________________

Follow us on twitter @DinarUpdates !!

Dinar Updates – BGG & the NEWS
Jan 2oth – Rec. Dinar News Call
641-715-3639 pin #932875

01/20- Recorded Call Replay Link

_____________________________________________________________

Abadi directs a message to the Saudi king: This is what we need from you

The Ministry of Planning said Thursday that Prime Minister Haider Abadi sent a letter to King Salman bin Abdul Aziz.

Read more: http://www.dinarupdates.com/blog/
_____________________________________________________________

Follow us on twitter @DinarUpdates !!

Dinar Updates – Q & A Call – with BGG Dec 27th – 8:00 pm Conference Call Phone # 641-715-3640 pin #932875

12/27 – Recorded Call Replay Link

_____________________________________________________________

World Bank: More than 600,000 employees in public companies are redundant

The existence of such proportions of the unemployed was seen as a major obstacle to reform and restructuring.

Read more: http://www.dinarupdates.com/blog/
_____________________________________________________________

The United States will participate with a large delegation at the Kuwait conference for the reconstruction of Iraq

The government estimated that it needed $ 100 billion to rebuild the devastated areas of the ISIS.

Read more: http://www.dinarupdates.com/blog/
_____________________________________________________________

Central Bank Governor Ali Al-Alak expressed his optimism on Monday about the country’s financial situation

Read more: http://www.dinarupdates.com/blog/
_____________________________________________________________

US to participate in Kuwait’s conference for rebuilding Iraq

US Ambassador to Iraq Douglas Silliman has met with Basra governor Assad al-Edani in the governorate, media reports said on Friday.

In a press conference, Silliman confirmed that the US will participate in Kuwait International Conference for Reconstruction of Iraq, slated for February 12-14.

He said that the US will help the Iraqi government in encouraging the global companies to invest in Iraq.

Meanwhile, Edani said that he discussed with Silliman several issues, including the investment and unemployment in the governorate.

During his visit, Silliman will meet several religious minorities to celebrate the International Day of Freedom of worship.

Read more: http://www.dinarupdates.com/blog/
_____________________________________________________________

5.6 quake strikes Iran-Iraq border near Kurdish cities

Read more: http://www.dinarupdates.com/blog/
_____________________________________________________________

Abadi is investigating around 125 individuals accused of smuggling money abroad

Al-Bayati added that “international bodies are working to gather information and have a sufficient database of the funds of these officials and inflated their funds in close periods.”

“The prime minister will give the database to the Iraqi Judicial Commission, which he set up for review, audit of funds and names, and external accounts.”

How to recognize the counterfeit Iraqi currency

[Ayna-Baghdad] The Central Bank of Iraq, issued a design illustration of the Iraqi currency the truth of the counterfeit.

BGG ~ Here are a few obvious points…

1) I find it a little curious all this recent “float vs. no-float” talk in the marketplace lately.

2) Dated today, the CBI decides to put a “how to spot fake currency” memo…

3) Did anyone happen to notice the last 3 notes? I had to go back to my currency and dig out these notes to figure out what they were. That is a 1k, a 500 Dinar and a 250 Dinar note.

WHY IN THE WORLD WOULD THE CBI BOTHER TELLING ANYONE HOW TO SPOT A FAKE 1K, 500 Dinar and 250 Dinar note?? The 1k is worth less than $1 right now… the 500 is about .50 and the 250 is not even worth a quarter!!

Read more: http://www.dinarupdates.com/blog/

_____________________________________________________________

An Iraqi bank economy directs its branches to facilitate the issuance of the MasterCard international card to journalists

Al-Rafidain Bank branches in Baghdad and the provinces to facilitate the procedures of granting the MasterCard card International journalists.

Read more: http://www.dinarupdates.com/blog/
_____________________________________________________________

Rafidain Bank launches an ATM service

Rafidain Bank announced on Friday the launch of the ATM service, which depends on the electronic payment card.

The statement pointed out that ‘this step comes to reduce the theft of citizens.’

Read more: http://www.dinarupdates.com/blog/
_____________________________________________________________

The Central Bank cancels letters of guarantee to exchange companies

“The payment will be by notice of the payment system ( RTGS) of the same amount from the bank account with which these companies are working for the central bank,” the document said.

The document stated that the decision obligates the companies to complete this decision, ie the deposit of 100 million dinars at the end of January.

Read more: http://www.dinarupdates.com/blog/
_____________________________________________________________

Iraq once again Controls own Economy, Free of UN Sanctions

By Adnan Abu Zeed for Al Monitor. Any opinions expressed here are those of the author and do not necessarily reflect the views of Iraq Business News.

The United Nations Security Council (UNSC) has agreed to lift sanctions imposed on Iraq when the country invaded Kuwait 27 years ago.

Read more: http://www.dinarupdates.com/blog/
_____________________________________________________________

Rafidain Bank launches an electronic ATM service

“This step also limits the risk that various segments of citizens will be exposed to theft because the money they carry through this card will not be visible,” the office said.

Read more: http://www.dinarupdates.com/blog/

_____________________________________________________________

Iraq reveals its reserves of hard currency

Iraq’s central bank governor Ali al-Alaq said on Tuesday that the bank’s reserves of foreign currency amounted to $ 48 billion, pointing out that Iraq will not resort to the currency.

“The flotation is difficult to apply in Iraq, considering that the government, de facto, monopoly the offer of the dollar and foreign currencies.”

Read more: http://www.dinarupdates.com/blog/
_____________________________________________________________

Iraq plans to extend a new pipeline to transport Kirkuk oil

He added that “the pipeline length of 350 km and diameter of 48 knots and more than one million barrels per day.”

Read more: http://www.dinarupdates.com/blog/
_____________________________________________________________

Jubouri: the next stage towards economic stability

Read more: http://www.dinarupdates.com/blog/
_____________________________________________________________

Washington and Baghdad are negotiating a long-term US presence in Iraq

The United States and Iraq have recently intensified their talks to keep a section of US troops permanently in the country following the expulsion of armed militants.

Read more: http://www.dinarupdates.com/blog/
_____________________________________________________________

Anti-Government protest continue for third day in some Kurdish cities

6:36 p.m.

Kurdish health officials lower protest death count from 5 to 2

The KRG Ministry of Health and local officials have lowered the death casualty for Tuesday violent protests in the city of Raniya to two, down from five.

He told Rudaw on Wednesday evening that they had “mistakenly calculated” the death casualties as their hospitals were overcrowded by dozens of injured protesters.

Dr. Khals Qadir, the spokesperson for Kurdistan’s Ministry of Health, also told Rudaw on Wednesday that they have recorded only two cases of death from Tuesday’s protests.

BGG ~ These unfolding events are BIG NEWS… Barzani’s “Old Guard” regime is on the verge of collapse. Abadi has been plain in his efforts to protect and help ALL the people of Iraq.

_____________________________________________________________

______________________________________________________________

The resignation of the President of the Parliament of Kurdistan of Iraq and the withdrawal of two parties from the Government of the Territory

The news agency “Reuters” quoting party sources that the President of the Parliament of the Kurdistan region of Iraq, Yousef Mohammed, submitted his resignation.

On the other hand, the Movement for Change and the Kurdistan Islamic Group decided to withdraw from the Kurdistan Regional Government of Iraq.

He added that “the citizens of the Kurdistan region will not bear the most current bad conditions,” pointing out that “the current government failed to manage the region and must leave.”

Read More: http://www.dinarupdates.com/showthread.php?55811-The-resignation-of-the-President-of-the-Parliament-of-Kurdistan-of-Iraq!!
___________________________________________________________

Senior Sunni scholars support Abadi’s push to fight corruption

The Iraqi Jurisprudence Council of Senior Scholars for Preaching and Fatwa declared Monday its support for the measures taken by Prime Minister Haider al-Abadi for fighting corruption.

In a statement, the council said a high-level delegation visited Najaf city on Saturday.

During the visit, Sunni scholars met with a number of Shia scholars.

According to the statement, the Sunni delegation stressed that it stands by the Iraqi prime minister in his push to fight corruption and corrupt officials.

The visit is an important step in the joint cooperation between Sunni and Shia clergies to achieve peaceful coexistence, the statement added.

This comes after Abadi announced he will unveil a list of corrupt officials.

Read More: http://www.dinarupdates.com/blog/
___________________________________________________________

Follow us on twitter @DinarUpdates !!

Dinar Updates – Q & A Call – with BGG from Dec 12th – 8:00 pm Conference Call Phone # 641-715-3639 pin #528733

12/12 – Recorded Call Replay Link

___________________________________________________________

Jubouri and the Saudi Ambassador agree to activate the factors of economic and investment development

Read more: http://www.dinarupdates.com/blog/
___________________________________________________________

The Central Bank strengthens banks in local currencies of small groups

Baghdad / Al-Ghad Press: Called the Central Bank of Iraq on the need to maintain the local currency, pointing to the strengthening of local banks in local currencies of small groups.

He revealed that “the Central Bank has announced a tender for the printing of new banknotes (small categories) in the printing companies of the world.”

Read more: http://www.dinarupdates.com/blog/
___________________________________________________________

Resolving Erbil-Baghdad Crisis “Big Priority for US”: National Security Advisor

“What happened?” McMaster asked. “You saw the Kurdish Region flourish.”

He valued the developments in Kurdistan Region and said, “It’s a miracle, almost, what happened in Northern Iraq in terms of beautiful cities in Sulaimani, Erbil, and Dohuk.”

Read more: http://www.dinarupdates.com/blog/

___________________________________________________________

Iraq emerges from Chapter VII and the “oil for food”

Iraq ended Saturday with a decision by the Security Council to withdraw from Chapter VII of the oil-for-food program imposed on it since the 1990s.

BGG ~ Obviously, this is very big news, however…

Is Iraq being FULLY removed from the UN Ch 7 Charter (as in – all UNSC oversight)?

(BTW – the sanctions and “the UNSC Charter” may well be two related but different functions)

The wording is still a bit murky for me…

There are some “tensing”, translation and direct reference issues I would like to see cleared up.

It’s not entirely clear they are officially clear of Ch 7 entirely. In many of the articles and interviews, it appears (to me) as though this is referring to the Oil-for-Food program as an individual issue… apart from the UNSC overall function.

I have said repeatedly – I’m not sure they will release Iraq from their UNSC Ch 7 oversight anytime in the near future. This would greatly limit the UN’s ability to come and go (within Iraq’s borders) as they see fit.

Though the UN appears to be pushing Iraq forward rapidly, I am dubious they give up a big tool in their fight against terrorism in the region.

Does Iraq have to be fully released from the UN Ch 7 charter (the protection portion) to progress to where we would like them to? I believe not. JMHO.

Worst case – they are released from the Oil-for-Food portion of the UN Ch 7 sanctions – which is the last of the active CH 7 sanctions and allows them to sell oil more freely on the open market. Great. Huge move forward.

I am going to be somewhat reserved until a official U.N. announcement of a full release from CH 7.

It’s also curious how they managed to hold an international bond offering without this previously and were successful??

My advice – NO MATTER WHAT… calm down. There is an extraordinary amount of jumping from A to B to Z in the community right now. None of the assumptions have to be correct. Relax – wait for the facts.

Don’t add to the “internet hysteria” going on right now…

______________________________________________________________

Image result for UN pics SECURITY COUNCIL
8126TH MEETING (AM)

All Measures Imposed under Iraq Oil-for-Food Programme Implemented in Full, Security Council Concludes, Unanimously Adopting Resolution 2390 (2017)

The meeting started at 9:45 a.m. and ended at 9:48 a.m.

Resolution

The full text of resolution 2390 (2017) reads as follows:

“The Security Council,

“Recalling its resolutions 1958 (2010) and 2335 (2016),

“Acknowledging receipt of the final report of the Secretary-General pursuant to paragraph 4 of Security Council resolution 2335 (2016), S/2017/820,

“1. Welcomes the implementing arrangements entered into by the Secretary-General and the Government of Iraq as requested in paragraph 7 of Security Council resolution 1958 (2010);

Read more: http://www.dinarupdates.com/blog/
______________________________________________________________

Masoum calls for the unification of the Iraqi banking system to promote economic reality

President Fuad Masum called on Thursday for the unification of the Iraqi banking system in all parts of the country in order to promote economic reality.

“President Fuad Masum received at the Peace Palace in Baghdad on Thursday, the governor of the Central Bank Ali al-Aalak,” said a statement by the president of the republic.

Read more: http://www.dinarupdates.com/blog/
______________________________________________________________

Governor of the Central Bank of the first economic profile for 2017

Read more: http://www.dinarupdates.com/blog/
______________________________________________________________

The role of scientific research in developing the reality of the Iraqi economy

Read more: http://www.dinarupdates.com/blog/
______________________________________________________________

Follow us on twitter @DinarUpdates !!

Dinar Updates – Q & A Call – with BGG from Nov 8th – 8:00 pm Conference Call Phone # 641-715-3639 pin #528733

11/08 – Recorded Call Replay Link

______________________________________________________________

Where is the Iraqi economy?

Read more: http://www.dinarupdates.com/blog/
______________________________________________________________

______________________________________________________________

Follow us on twitter @DinarUpdates !!

Dinar Updates – Q & A Call – with BGG from Nov 8th – 8:00 pm Conference Call Phone # 641-715-3639 pin #528733

11/08 – Recorded Call Replay Link

______________________________________________________________

Post RV Checklist (it’s getting to be that time!! Listen up!!)

Dos and Don’ts of Windfall Wealth:

Treat it like a PowerBall win

– Tell no one, not even family. If you must talk, do so with one who is already in the know.

– Don’t run out & buy new “stuff”. People notice.

– Get an unpublished number and give it out very sparingly.

– Get a tax accountant you can trust to make sure the IRS is satisfied (Certified Opinion is something to look into) and pursue asset protection…

If you found this blog, our website or chats helpful – Forward it to a friend!! We couldn’t do it without you!! Thanks – BGG!!

www.DinarUpdates.com

DINAR OBSERVER DAILY – Feb. 5th

Posted on February 5, 2018 by The Dinar Observer

Former minister: $ 500 billion will return to the state by applying the law “Where do you get this”

The House of Representatives on Saturday, during the session of the House of Representatives first reading of the proposed law on graft “Where you get this.”

“Former Minister of Water Resources Mohsen al-Shammari, it is likely to recover 500 billion dollars to the state treasury if the law applies” Where do you get this? “…

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

BGG ~ 500 Billion USD is an awful lot of money… especially when you consider Iraq is only asking for 100 Billion for their COMPLETE rebuilding process.

This is the size and scope of their corruption problem. This bill will be a problem. Everyone voting on it is crooked. Kinda’ like trying to get term limits passed here.

____________________________________________________________

Masoum stresses Iraq's urgent need for a solid and open economy

Masoum stresses Iraq’s urgent need for a solid and open economy

{Baghdad: Al-Furat News} President Fuad Masum, stressed the urgent need of Iraq to build a solid economy.

Read More: http://www.dinarupdates.com/blog/
____________________________________________________________

Special for change .. Abadi of parliament: the international community will not help Iraq if the budget is not approved

Quoting the channel of change .. Abadi of parliament: the international community will not help Iraq if the budget is not approved

Altahreernews.com

BGG ~ Oh wow. We’ll this pretty much spells it out. However, keep in mind – this is likely Abadi talking TO his Parliament, urging them to adopt their budget.

When I initially started down this line of reasoning, I had no idea international sentiment was as tough as it appears to be. WOW!!

The UN, IMF and WB all appear to want to support Iraq in the worst way – but it also very much appears there are results that are yet required.

P.S. This might also explain this very direct, “hands on” push by Abadi to get the budget done.

We wait and watch.

____________________________________________________________

Al-Alusi: Donor countries will not pay one dirham to a corrupt government

Special Mawazine News – Parliamentarian Mithal al-Alusi said on Tuesday that donor countries would not pay one dirham to a government accused of corruption.

“The donor countries can not be assured of their support at the donor conference to be held in Kuwait next month,” Alusi told Mawazine News.

“Those countries will not give Iraq a single dirham, because the government and the conservatives are accused of corruption,” he said.

“The states have informed the Iraqi government and politicians (we will not give you money because you are not trustworthy),” Alusi said.

The government has earlier announced efforts to coordinate with the Kuwaiti government to invite more than 70 countries to the donors conference scheduled to be held in Kuwait in February.

Source

Paul Moseley – “BGG YOU HIT THE NAIL ON THE HEAD”!!

BGG ~ Another accurate portrayal in the news. That is all. Thank you though 🙂

I have been talking the last however long about what Abadi needs to do along the lines of a real fight against corruption and why. Then I came out and did a fairly long dissertation on the matter. Some people didn’t like what I had to say… I only call it the way I see it.

Then this came out today…

…”Those countries will not give Iraq a single dirham, because the government and the conservatives are accused of corruption,” he said…

This might explain the less-than-luke-warm response Abadi got while at Davos.

____________________________________________________________

Abadi’s war against corruption must begin with Maliki and his henchmen

Corruption in Iraq has caused severe poverty in Iraq, which led to civil and sectarian strife that caused the extreme damages to the country’s infrastructure.

Shia parties lead corruption…

Read More: http://www.dinarupdates.com/blog/
_____________________________________________________________

BGG ~ When I first started hearing these reports out of Baghdad about this grand “war on corruption” Abadi has planned I was hopeful. I still am. However, there is much to consider. Far more than meets the eye.

This push has been going on since before the end of the fight for Mosul. Abadi started laying out his agenda then. However, one article from last week caused me a little concern, it mentioned Abadi might wait until after the elections to go after “the whales of corruption” (or something along those lines) so it didn’t look like he was doing it for “electoral purposes”. This troubles me some. It seems like a tidy excuse.

The opinion article we lead with today somewhat seeks to goad him into this fight. It might even be hitting on a key point – “Is this all for show”? As in, “election cycle propaganda”. One question I have long had is, “why has it taken this long”? This is a fair point, I think. If Maliki is as corrupt as he is rumored to be, evidence cannot be in short supply…

Read More: http://www.dinarupdates.com/blog/
_____________________________________________________________

Delta (Dinar Guru) – …ONE OF IRAQI CHANNEL ON THE TICKER THEY SAID THAT CBI STRATGEY ON DINAR EXTERNAL EXCHANGE RATE IT WILL 1-1…WOW. WE WILL SEE WHAT NEXT WEEK BRING US…

Be very cautious of this information…
_____________________________________________________________

Abadi: They are on the process of rising the Iraqi economy and create jobs

He explained that “Iraq has become a great success story achieved thanks to the unity of Iraqis, and we are on the way to the process of rising in the Iraqi economy and create jobs.”

Abadi arrived in Switzerland yesterday to participate in the economic forum “Davos” and to mobilize support for Iraq ahead of the reconstruction conference in Kuwait.

Source Link

BGG ~ FYI – Abadi has been the best thing that’s happened to Iraq in the last 2 decades. Is he perfect? No. Are they on track? More than you know. So relax.

From a different translation (same article)… Abadi: “…we are in the process of raising the Iraqi economy and create(ing) jobs…”

What exactly is this process he is speaking of? Does it include monetary and currency reform? I don’t see how it cannot – especially with the clear re-engagement of Iraq with the world markets.

With any luck Abadi will get a lot of credit for their peace and prosperity – Maliki and Barzani will get shut out on May 12th.

_____________________________________________________________

BGG ~ I do not agree with ANY of this commentary…
_____________________________________________________________

Follow us on twitter @DinarUpdates !!

Dinar Updates – BGG & the NEWS
Jan 2oth – Rec. Dinar News Call
641-715-3639 pin #932875

01/20- Recorded Call Replay Link

_____________________________________________________________

Visit of the Governor of the Central Bank of Iraq Branch Basra

In his visit to the branch of Basra: Governor of the Central Bank confirms the continued support of the banking sector in all of Iraq

The Governor praised the work of the branch staff, stressing that the Iraqi Central Bank support the banking sector working in Iraq.

BGG ~ I am a little curious as to what the bill is that is pictured in this last shot? I have looked around some and can’t seem to come up with an ID on it.

(Update: according to Yahoo images, the note in question appears to be a 1947 10 Dinar note with King Faisal II on it. Probably some commemorative ceremony. Still interesting.)

_____________________________________________________________

BGG ~ “…THERE MUST BE AN AGREEMENT TO BE UNDER…” Really?!? I think not.

_____________________________________________________________

Ten conditions in front of Barzani for the settlement of things

Read More: http://www.dinarupdates.com/blog/
_____________________________________________________________

Follow us on twitter @DinarUpdates !!

Dinar Updates – BGG & the NEWS
Jan 2oth – Rec. Dinar News Call
641-715-3639 pin #932875

01/20- Recorded Call Replay Link

_____________________________________________________________

Abadi directs a message to the Saudi king: This is what we need from you

The Ministry of Planning said Thursday that Prime Minister Haider Abadi sent a letter to King Salman bin Abdul Aziz.

Read more: http://www.dinarupdates.com/blog/
_____________________________________________________________

Follow us on twitter @DinarUpdates !!

Dinar Updates – Q & A Call – with BGG Dec 27th – 8:00 pm Conference Call Phone # 641-715-3640 pin #932875

12/27 – Recorded Call Replay Link

_____________________________________________________________

World Bank: More than 600,000 employees in public companies are redundant

The existence of such proportions of the unemployed was seen as a major obstacle to reform and restructuring.

Read more: http://www.dinarupdates.com/blog/
_____________________________________________________________

The United States will participate with a large delegation at the Kuwait conference for the reconstruction of Iraq

The government estimated that it needed $ 100 billion to rebuild the devastated areas of the ISIS.

Read more: http://www.dinarupdates.com/blog/
_____________________________________________________________

Central Bank Governor Ali Al-Alak expressed his optimism on Monday about the country’s financial situation

Read more: http://www.dinarupdates.com/blog/
_____________________________________________________________

US to participate in Kuwait’s conference for rebuilding Iraq

US Ambassador to Iraq Douglas Silliman has met with Basra governor Assad al-Edani in the governorate, media reports said on Friday.

In a press conference, Silliman confirmed that the US will participate in Kuwait International Conference for Reconstruction of Iraq, slated for February 12-14.

He said that the US will help the Iraqi government in encouraging the global companies to invest in Iraq.

Meanwhile, Edani said that he discussed with Silliman several issues, including the investment and unemployment in the governorate.

During his visit, Silliman will meet several religious minorities to celebrate the International Day of Freedom of worship.

Read more: http://www.dinarupdates.com/blog/
_____________________________________________________________

5.6 quake strikes Iran-Iraq border near Kurdish cities

Read more: http://www.dinarupdates.com/blog/
_____________________________________________________________

Abadi is investigating around 125 individuals accused of smuggling money abroad

Al-Bayati added that “international bodies are working to gather information and have a sufficient database of the funds of these officials and inflated their funds in close periods.”

“The prime minister will give the database to the Iraqi Judicial Commission, which he set up for review, audit of funds and names, and external accounts.”

How to recognize the counterfeit Iraqi currency

[Ayna-Baghdad] The Central Bank of Iraq, issued a design illustration of the Iraqi currency the truth of the counterfeit.

BGG ~ Here are a few obvious points…

1) I find it a little curious all this recent “float vs. no-float” talk in the marketplace lately.

2) Dated today, the CBI decides to put a “how to spot fake currency” memo…

3) Did anyone happen to notice the last 3 notes? I had to go back to my currency and dig out these notes to figure out what they were. That is a 1k, a 500 Dinar and a 250 Dinar note.

WHY IN THE WORLD WOULD THE CBI BOTHER TELLING ANYONE HOW TO SPOT A FAKE 1K, 500 Dinar and 250 Dinar note?? The 1k is worth less than $1 right now… the 500 is about .50 and the 250 is not even worth a quarter!!

Read more: http://www.dinarupdates.com/blog/

_____________________________________________________________

An Iraqi bank economy directs its branches to facilitate the issuance of the MasterCard international card to journalists

Al-Rafidain Bank branches in Baghdad and the provinces to facilitate the procedures of granting the MasterCard card International journalists.

Read more: http://www.dinarupdates.com/blog/
_____________________________________________________________

Rafidain Bank launches an ATM service

Rafidain Bank announced on Friday the launch of the ATM service, which depends on the electronic payment card.

The statement pointed out that ‘this step comes to reduce the theft of citizens.’

Read more: http://www.dinarupdates.com/blog/
_____________________________________________________________

The Central Bank cancels letters of guarantee to exchange companies

“The payment will be by notice of the payment system ( RTGS) of the same amount from the bank account with which these companies are working for the central bank,” the document said.

The document stated that the decision obligates the companies to complete this decision, ie the deposit of 100 million dinars at the end of January.

Read more: http://www.dinarupdates.com/blog/
_____________________________________________________________

Iraq once again Controls own Economy, Free of UN Sanctions

By Adnan Abu Zeed for Al Monitor. Any opinions expressed here are those of the author and do not necessarily reflect the views of Iraq Business News.

The United Nations Security Council (UNSC) has agreed to lift sanctions imposed on Iraq when the country invaded Kuwait 27 years ago.

Read more: http://www.dinarupdates.com/blog/
_____________________________________________________________

Rafidain Bank launches an electronic ATM service

“This step also limits the risk that various segments of citizens will be exposed to theft because the money they carry through this card will not be visible,” the office said.

Read more: http://www.dinarupdates.com/blog/

_____________________________________________________________

Iraq reveals its reserves of hard currency

Iraq’s central bank governor Ali al-Alaq said on Tuesday that the bank’s reserves of foreign currency amounted to $ 48 billion, pointing out that Iraq will not resort to the currency.

“The flotation is difficult to apply in Iraq, considering that the government, de facto, monopoly the offer of the dollar and foreign currencies.”

Read more: http://www.dinarupdates.com/blog/
_____________________________________________________________

Iraq plans to extend a new pipeline to transport Kirkuk oil

He added that “the pipeline length of 350 km and diameter of 48 knots and more than one million barrels per day.”

Read more: http://www.dinarupdates.com/blog/
_____________________________________________________________

Jubouri: the next stage towards economic stability

Read more: http://www.dinarupdates.com/blog/
_____________________________________________________________

Washington and Baghdad are negotiating a long-term US presence in Iraq

The United States and Iraq have recently intensified their talks to keep a section of US troops permanently in the country following the expulsion of armed militants.

Read more: http://www.dinarupdates.com/blog/
_____________________________________________________________

Anti-Government protest continue for third day in some Kurdish cities

6:36 p.m.

Kurdish health officials lower protest death count from 5 to 2

The KRG Ministry of Health and local officials have lowered the death casualty for Tuesday violent protests in the city of Raniya to two, down from five.

He told Rudaw on Wednesday evening that they had “mistakenly calculated” the death casualties as their hospitals were overcrowded by dozens of injured protesters.

Dr. Khals Qadir, the spokesperson for Kurdistan’s Ministry of Health, also told Rudaw on Wednesday that they have recorded only two cases of death from Tuesday’s protests.

BGG ~ These unfolding events are BIG NEWS… Barzani’s “Old Guard” regime is on the verge of collapse. Abadi has been plain in his efforts to protect and help ALL the people of Iraq.

_____________________________________________________________

______________________________________________________________

The resignation of the President of the Parliament of Kurdistan of Iraq and the withdrawal of two parties from the Government of the Territory

The news agency “Reuters” quoting party sources that the President of the Parliament of the Kurdistan region of Iraq, Yousef Mohammed, submitted his resignation.

On the other hand, the Movement for Change and the Kurdistan Islamic Group decided to withdraw from the Kurdistan Regional Government of Iraq.

He added that “the citizens of the Kurdistan region will not bear the most current bad conditions,” pointing out that “the current government failed to manage the region and must leave.”

Read More: http://www.dinarupdates.com/showthread.php?55811-The-resignation-of-the-President-of-the-Parliament-of-Kurdistan-of-Iraq!!
___________________________________________________________

Senior Sunni scholars support Abadi’s push to fight corruption

The Iraqi Jurisprudence Council of Senior Scholars for Preaching and Fatwa declared Monday its support for the measures taken by Prime Minister Haider al-Abadi for fighting corruption.

In a statement, the council said a high-level delegation visited Najaf city on Saturday.

During the visit, Sunni scholars met with a number of Shia scholars.

According to the statement, the Sunni delegation stressed that it stands by the Iraqi prime minister in his push to fight corruption and corrupt officials.

The visit is an important step in the joint cooperation between Sunni and Shia clergies to achieve peaceful coexistence, the statement added.

This comes after Abadi announced he will unveil a list of corrupt officials.

Read More: http://www.dinarupdates.com/blog/
___________________________________________________________

Follow us on twitter @DinarUpdates !!

Dinar Updates – Q & A Call – with BGG from Dec 12th – 8:00 pm Conference Call Phone # 641-715-3639 pin #528733

12/12 – Recorded Call Replay Link

___________________________________________________________

Jubouri and the Saudi Ambassador agree to activate the factors of economic and investment development

Read more: http://www.dinarupdates.com/blog/
___________________________________________________________

The Central Bank strengthens banks in local currencies of small groups

Baghdad / Al-Ghad Press: Called the Central Bank of Iraq on the need to maintain the local currency, pointing to the strengthening of local banks in local currencies of small groups.

He revealed that “the Central Bank has announced a tender for the printing of new banknotes (small categories) in the printing companies of the world.”

Read more: http://www.dinarupdates.com/blog/
___________________________________________________________

Resolving Erbil-Baghdad Crisis “Big Priority for US”: National Security Advisor

“What happened?” McMaster asked. “You saw the Kurdish Region flourish.”

He valued the developments in Kurdistan Region and said, “It’s a miracle, almost, what happened in Northern Iraq in terms of beautiful cities in Sulaimani, Erbil, and Dohuk.”

Read more: http://www.dinarupdates.com/blog/

___________________________________________________________

Iraq emerges from Chapter VII and the “oil for food”

Iraq ended Saturday with a decision by the Security Council to withdraw from Chapter VII of the oil-for-food program imposed on it since the 1990s.

BGG ~ Obviously, this is very big news, however…

Is Iraq being FULLY removed from the UN Ch 7 Charter (as in – all UNSC oversight)?

(BTW – the sanctions and “the UNSC Charter” may well be two related but different functions)

The wording is still a bit murky for me…

There are some “tensing”, translation and direct reference issues I would like to see cleared up.

It’s not entirely clear they are officially clear of Ch 7 entirely. In many of the articles and interviews, it appears (to me) as though this is referring to the Oil-for-Food program as an individual issue… apart from the UNSC overall function.

I have said repeatedly – I’m not sure they will release Iraq from their UNSC Ch 7 oversight anytime in the near future. This would greatly limit the UN’s ability to come and go (within Iraq’s borders) as they see fit.

Though the UN appears to be pushing Iraq forward rapidly, I am dubious they give up a big tool in their fight against terrorism in the region.

Does Iraq have to be fully released from the UN Ch 7 charter (the protection portion) to progress to where we would like them to? I believe not. JMHO.

Worst case – they are released from the Oil-for-Food portion of the UN Ch 7 sanctions – which is the last of the active CH 7 sanctions and allows them to sell oil more freely on the open market. Great. Huge move forward.

I am going to be somewhat reserved until a official U.N. announcement of a full release from CH 7.

It’s also curious how they managed to hold an international bond offering without this previously and were successful??

My advice – NO MATTER WHAT… calm down. There is an extraordinary amount of jumping from A to B to Z in the community right now. None of the assumptions have to be correct. Relax – wait for the facts.

Don’t add to the “internet hysteria” going on right now…

______________________________________________________________

Image result for UN pics SECURITY COUNCIL
8126TH MEETING (AM)

All Measures Imposed under Iraq Oil-for-Food Programme Implemented in Full, Security Council Concludes, Unanimously Adopting Resolution 2390 (2017)

The meeting started at 9:45 a.m. and ended at 9:48 a.m.

Resolution

The full text of resolution 2390 (2017) reads as follows:

“The Security Council,

“Recalling its resolutions 1958 (2010) and 2335 (2016),

“Acknowledging receipt of the final report of the Secretary-General pursuant to paragraph 4 of Security Council resolution 2335 (2016), S/2017/820,

“1. Welcomes the implementing arrangements entered into by the Secretary-General and the Government of Iraq as requested in paragraph 7 of Security Council resolution 1958 (2010);

Read more: http://www.dinarupdates.com/blog/
______________________________________________________________

Masoum calls for the unification of the Iraqi banking system to promote economic reality

President Fuad Masum called on Thursday for the unification of the Iraqi banking system in all parts of the country in order to promote economic reality.

“President Fuad Masum received at the Peace Palace in Baghdad on Thursday, the governor of the Central Bank Ali al-Aalak,” said a statement by the president of the republic.

Read more: http://www.dinarupdates.com/blog/
______________________________________________________________

Governor of the Central Bank of the first economic profile for 2017

Read more: http://www.dinarupdates.com/blog/
______________________________________________________________

The role of scientific research in developing the reality of the Iraqi economy

Read more: http://www.dinarupdates.com/blog/
______________________________________________________________

Follow us on twitter @DinarUpdates !!

Dinar Updates – Q & A Call – with BGG from Nov 8th – 8:00 pm Conference Call Phone # 641-715-3639 pin #528733

11/08 – Recorded Call Replay Link

______________________________________________________________

Where is the Iraqi economy?

Read more: http://www.dinarupdates.com/blog/
______________________________________________________________

______________________________________________________________

Follow us on twitter @DinarUpdates !!

Dinar Updates – Q & A Call – with BGG from Nov 8th – 8:00 pm Conference Call Phone # 641-715-3639 pin #528733

11/08 – Recorded Call Replay Link

______________________________________________________________

Post RV Checklist (it’s getting to be that time!! Listen up!!)

Dos and Don’ts of Windfall Wealth:

Treat it like a PowerBall win

– Tell no one, not even family. If you must talk, do so with one who is already in the know.

– Don’t run out & buy new “stuff”. People notice.

– Get an unpublished number and give it out very sparingly.

– Get a tax accountant you can trust to make sure the IRS is satisfied (Certified Opinion is something to look into) and pursue asset protection…

If you found this blog, our website or chats helpful – Forward it to a friend!! We couldn’t do it without you!! Thanks – BGG!!

www.DinarUpdates.com

Posted in Uncategorized | Tagged Dinar, Dinar Chat, dinar detectives, Dinar Guru, dinar gurus, Dinar Info, Dinar News, dinar recaps, dinar recaps blog, Dinar RV, dinar to usd, dinar trade, dinar updates, dinar value, dinar vets, IQD, Iraqi Dinar, Observer, Recaps, Revaluation, Updates, VND | Comments Off

DINAR OBSERVER DAILY – Feb. 4th

Posted on February 4, 2018 by The Dinar Observer

Former minister: $ 500 billion will return to the state by applying the law “Where do you get this”

The House of Representatives on Saturday, during the session of the House of Representatives first reading of the proposed law on graft “Where you get this.”

“Former Minister of Water Resources Mohsen al-Shammari, it is likely to recover 500 billion dollars to the state treasury if the law applies” Where do you get this? “…

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

BGG ~ 500 Billion USD is an awful lot of money… especially when you consider Iraq is only asking for 100 Billion for their COMPLETE rebuilding process.

This is the size and scope of their corruption problem. This bill will be a problem. Everyone voting on it is crooked. Kinda’ like trying to get term limits passed here.

____________________________________________________________

Masoum stresses Iraq's urgent need for a solid and open economy

Masoum stresses Iraq’s urgent need for a solid and open economy

{Baghdad: Al-Furat News} President Fuad Masum, stressed the urgent need of Iraq to build a solid economy.

Read More: http://www.dinarupdates.com/blog/
____________________________________________________________

Special for change .. Abadi of parliament: the international community will not help Iraq if the budget is not approved

Quoting the channel of change .. Abadi of parliament: the international community will not help Iraq if the budget is not approved

Altahreernews.com

BGG ~ Oh wow. We’ll this pretty much spells it out. However, keep in mind – this is likely Abadi talking TO his Parliament, urging them to adopt their budget.

When I initially started down this line of reasoning, I had no idea international sentiment was as tough as it appears to be. WOW!!

The UN, IMF and WB all appear to want to support Iraq in the worst way – but it also very much appears there are results that are yet required.

P.S. This might also explain this very direct, “hands on” push by Abadi to get the budget done.

We wait and watch.

____________________________________________________________

Al-Alusi: Donor countries will not pay one dirham to a corrupt government

Special Mawazine News – Parliamentarian Mithal al-Alusi said on Tuesday that donor countries would not pay one dirham to a government accused of corruption.

“The donor countries can not be assured of their support at the donor conference to be held in Kuwait next month,” Alusi told Mawazine News.

“Those countries will not give Iraq a single dirham, because the government and the conservatives are accused of corruption,” he said.

“The states have informed the Iraqi government and politicians (we will not give you money because you are not trustworthy),” Alusi said.

The government has earlier announced efforts to coordinate with the Kuwaiti government to invite more than 70 countries to the donors conference scheduled to be held in Kuwait in February.

Source

Paul Moseley – “BGG YOU HIT THE NAIL ON THE HEAD”!!

BGG ~ Another accurate portrayal in the news. That is all. Thank you though 🙂

I have been talking the last however long about what Abadi needs to do along the lines of a real fight against corruption and why. Then I came out and did a fairly long dissertation on the matter. Some people didn’t like what I had to say… I only call it the way I see it.

Then this came out today…

…”Those countries will not give Iraq a single dirham, because the government and the conservatives are accused of corruption,” he said…

This might explain the less-than-luke-warm response Abadi got while at Davos.

____________________________________________________________

Abadi’s war against corruption must begin with Maliki and his henchmen

Corruption in Iraq has caused severe poverty in Iraq, which led to civil and sectarian strife that caused the extreme damages to the country’s infrastructure.

Shia parties lead corruption…

Read More: http://www.dinarupdates.com/blog/
_____________________________________________________________

BGG ~ When I first started hearing these reports out of Baghdad about this grand “war on corruption” Abadi has planned I was hopeful. I still am. However, there is much to consider. Far more than meets the eye.

This push has been going on since before the end of the fight for Mosul. Abadi started laying out his agenda then. However, one article from last week caused me a little concern, it mentioned Abadi might wait until after the elections to go after “the whales of corruption” (or something along those lines) so it didn’t look like he was doing it for “electoral purposes”. This troubles me some. It seems like a tidy excuse.

The opinion article we lead with today somewhat seeks to goad him into this fight. It might even be hitting on a key point – “Is this all for show”? As in, “election cycle propaganda”. One question I have long had is, “why has it taken this long”? This is a fair point, I think. If Maliki is as corrupt as he is rumored to be, evidence cannot be in short supply…

Read More: http://www.dinarupdates.com/blog/
_____________________________________________________________

Delta (Dinar Guru) – …ONE OF IRAQI CHANNEL ON THE TICKER THEY SAID THAT CBI STRATGEY ON DINAR EXTERNAL EXCHANGE RATE IT WILL 1-1…WOW. WE WILL SEE WHAT NEXT WEEK BRING US…

Be very cautious of this information…
_____________________________________________________________

Abadi: They are on the process of rising the Iraqi economy and create jobs

He explained that “Iraq has become a great success story achieved thanks to the unity of Iraqis, and we are on the way to the process of rising in the Iraqi economy and create jobs.”

Abadi arrived in Switzerland yesterday to participate in the economic forum “Davos” and to mobilize support for Iraq ahead of the reconstruction conference in Kuwait.

Source Link

BGG ~ FYI – Abadi has been the best thing that’s happened to Iraq in the last 2 decades. Is he perfect? No. Are they on track? More than you know. So relax.

From a different translation (same article)… Abadi: “…we are in the process of raising the Iraqi economy and create(ing) jobs…”

What exactly is this process he is speaking of? Does it include monetary and currency reform? I don’t see how it cannot – especially with the clear re-engagement of Iraq with the world markets.

With any luck Abadi will get a lot of credit for their peace and prosperity – Maliki and Barzani will get shut out on May 12th.

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BGG ~ I do not agree with ANY of this commentary…
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Visit of the Governor of the Central Bank of Iraq Branch Basra

In his visit to the branch of Basra: Governor of the Central Bank confirms the continued support of the banking sector in all of Iraq

The Governor praised the work of the branch staff, stressing that the Iraqi Central Bank support the banking sector working in Iraq.

BGG ~ I am a little curious as to what the bill is that is pictured in this last shot? I have looked around some and can’t seem to come up with an ID on it.

(Update: according to Yahoo images, the note in question appears to be a 1947 10 Dinar note with King Faisal II on it. Probably some commemorative ceremony. Still interesting.)

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BGG ~ “…THERE MUST BE AN AGREEMENT TO BE UNDER…” Really?!? I think not.

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Ten conditions in front of Barzani for the settlement of things

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Abadi directs a message to the Saudi king: This is what we need from you

The Ministry of Planning said Thursday that Prime Minister Haider Abadi sent a letter to King Salman bin Abdul Aziz.

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World Bank: More than 600,000 employees in public companies are redundant

The existence of such proportions of the unemployed was seen as a major obstacle to reform and restructuring.

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The United States will participate with a large delegation at the Kuwait conference for the reconstruction of Iraq

The government estimated that it needed $ 100 billion to rebuild the devastated areas of the ISIS.

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Central Bank Governor Ali Al-Alak expressed his optimism on Monday about the country’s financial situation

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US to participate in Kuwait’s conference for rebuilding Iraq

US Ambassador to Iraq Douglas Silliman has met with Basra governor Assad al-Edani in the governorate, media reports said on Friday.

In a press conference, Silliman confirmed that the US will participate in Kuwait International Conference for Reconstruction of Iraq, slated for February 12-14.

He said that the US will help the Iraqi government in encouraging the global companies to invest in Iraq.

Meanwhile, Edani said that he discussed with Silliman several issues, including the investment and unemployment in the governorate.

During his visit, Silliman will meet several religious minorities to celebrate the International Day of Freedom of worship.

Read more: http://www.dinarupdates.com/blog/
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5.6 quake strikes Iran-Iraq border near Kurdish cities

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Abadi is investigating around 125 individuals accused of smuggling money abroad

Al-Bayati added that “international bodies are working to gather information and have a sufficient database of the funds of these officials and inflated their funds in close periods.”

“The prime minister will give the database to the Iraqi Judicial Commission, which he set up for review, audit of funds and names, and external accounts.”

How to recognize the counterfeit Iraqi currency

[Ayna-Baghdad] The Central Bank of Iraq, issued a design illustration of the Iraqi currency the truth of the counterfeit.

BGG ~ Here are a few obvious points…

1) I find it a little curious all this recent “float vs. no-float” talk in the marketplace lately.

2) Dated today, the CBI decides to put a “how to spot fake currency” memo…

3) Did anyone happen to notice the last 3 notes? I had to go back to my currency and dig out these notes to figure out what they were. That is a 1k, a 500 Dinar and a 250 Dinar note.

WHY IN THE WORLD WOULD THE CBI BOTHER TELLING ANYONE HOW TO SPOT A FAKE 1K, 500 Dinar and 250 Dinar note?? The 1k is worth less than $1 right now… the 500 is about .50 and the 250 is not even worth a quarter!!

Read more: http://www.dinarupdates.com/blog/

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An Iraqi bank economy directs its branches to facilitate the issuance of the MasterCard international card to journalists

Al-Rafidain Bank branches in Baghdad and the provinces to facilitate the procedures of granting the MasterCard card International journalists.

Read more: http://www.dinarupdates.com/blog/
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Rafidain Bank launches an ATM service

Rafidain Bank announced on Friday the launch of the ATM service, which depends on the electronic payment card.

The statement pointed out that ‘this step comes to reduce the theft of citizens.’

Read more: http://www.dinarupdates.com/blog/
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The Central Bank cancels letters of guarantee to exchange companies

“The payment will be by notice of the payment system ( RTGS) of the same amount from the bank account with which these companies are working for the central bank,” the document said.

The document stated that the decision obligates the companies to complete this decision, ie the deposit of 100 million dinars at the end of January.

Read more: http://www.dinarupdates.com/blog/
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Iraq once again Controls own Economy, Free of UN Sanctions

By Adnan Abu Zeed for Al Monitor. Any opinions expressed here are those of the author and do not necessarily reflect the views of Iraq Business News.

The United Nations Security Council (UNSC) has agreed to lift sanctions imposed on Iraq when the country invaded Kuwait 27 years ago.

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Rafidain Bank launches an electronic ATM service

“This step also limits the risk that various segments of citizens will be exposed to theft because the money they carry through this card will not be visible,” the office said.

Read more: http://www.dinarupdates.com/blog/

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Iraq reveals its reserves of hard currency

Iraq’s central bank governor Ali al-Alaq said on Tuesday that the bank’s reserves of foreign currency amounted to $ 48 billion, pointing out that Iraq will not resort to the currency.

“The flotation is difficult to apply in Iraq, considering that the government, de facto, monopoly the offer of the dollar and foreign currencies.”

Read more: http://www.dinarupdates.com/blog/
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Iraq plans to extend a new pipeline to transport Kirkuk oil

He added that “the pipeline length of 350 km and diameter of 48 knots and more than one million barrels per day.”

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Jubouri: the next stage towards economic stability

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Washington and Baghdad are negotiating a long-term US presence in Iraq

The United States and Iraq have recently intensified their talks to keep a section of US troops permanently in the country following the expulsion of armed militants.

Read more: http://www.dinarupdates.com/blog/
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Anti-Government protest continue for third day in some Kurdish cities

6:36 p.m.

Kurdish health officials lower protest death count from 5 to 2

The KRG Ministry of Health and local officials have lowered the death casualty for Tuesday violent protests in the city of Raniya to two, down from five.

He told Rudaw on Wednesday evening that they had “mistakenly calculated” the death casualties as their hospitals were overcrowded by dozens of injured protesters.

Dr. Khals Qadir, the spokesperson for Kurdistan’s Ministry of Health, also told Rudaw on Wednesday that they have recorded only two cases of death from Tuesday’s protests.

BGG ~ These unfolding events are BIG NEWS… Barzani’s “Old Guard” regime is on the verge of collapse. Abadi has been plain in his efforts to protect and help ALL the people of Iraq.

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The resignation of the President of the Parliament of Kurdistan of Iraq and the withdrawal of two parties from the Government of the Territory

The news agency “Reuters” quoting party sources that the President of the Parliament of the Kurdistan region of Iraq, Yousef Mohammed, submitted his resignation.

On the other hand, the Movement for Change and the Kurdistan Islamic Group decided to withdraw from the Kurdistan Regional Government of Iraq.

He added that “the citizens of the Kurdistan region will not bear the most current bad conditions,” pointing out that “the current government failed to manage the region and must leave.”

Read More: http://www.dinarupdates.com/showthread.php?55811-The-resignation-of-the-President-of-the-Parliament-of-Kurdistan-of-Iraq!!
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Senior Sunni scholars support Abadi’s push to fight corruption

The Iraqi Jurisprudence Council of Senior Scholars for Preaching and Fatwa declared Monday its support for the measures taken by Prime Minister Haider al-Abadi for fighting corruption.

In a statement, the council said a high-level delegation visited Najaf city on Saturday.

During the visit, Sunni scholars met with a number of Shia scholars.

According to the statement, the Sunni delegation stressed that it stands by the Iraqi prime minister in his push to fight corruption and corrupt officials.

The visit is an important step in the joint cooperation between Sunni and Shia clergies to achieve peaceful coexistence, the statement added.

This comes after Abadi announced he will unveil a list of corrupt officials.

Read More: http://www.dinarupdates.com/blog/
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Jubouri and the Saudi Ambassador agree to activate the factors of economic and investment development

Read more: http://www.dinarupdates.com/blog/
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The Central Bank strengthens banks in local currencies of small groups

Baghdad / Al-Ghad Press: Called the Central Bank of Iraq on the need to maintain the local currency, pointing to the strengthening of local banks in local currencies of small groups.

He revealed that “the Central Bank has announced a tender for the printing of new banknotes (small categories) in the printing companies of the world.”

Read more: http://www.dinarupdates.com/blog/
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Resolving Erbil-Baghdad Crisis “Big Priority for US”: National Security Advisor

“What happened?” McMaster asked. “You saw the Kurdish Region flourish.”

He valued the developments in Kurdistan Region and said, “It’s a miracle, almost, what happened in Northern Iraq in terms of beautiful cities in Sulaimani, Erbil, and Dohuk.”

Read more: http://www.dinarupdates.com/blog/

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Iraq emerges from Chapter VII and the “oil for food”

Iraq ended Saturday with a decision by the Security Council to withdraw from Chapter VII of the oil-for-food program imposed on it since the 1990s.

BGG ~ Obviously, this is very big news, however…

Is Iraq being FULLY removed from the UN Ch 7 Charter (as in – all UNSC oversight)?

(BTW – the sanctions and “the UNSC Charter” may well be two related but different functions)

The wording is still a bit murky for me…

There are some “tensing”, translation and direct reference issues I would like to see cleared up.

It’s not entirely clear they are officially clear of Ch 7 entirely. In many of the articles and interviews, it appears (to me) as though this is referring to the Oil-for-Food program as an individual issue… apart from the UNSC overall function.

I have said repeatedly – I’m not sure they will release Iraq from their UNSC Ch 7 oversight anytime in the near future. This would greatly limit the UN’s ability to come and go (within Iraq’s borders) as they see fit.

Though the UN appears to be pushing Iraq forward rapidly, I am dubious they give up a big tool in their fight against terrorism in the region.

Does Iraq have to be fully released from the UN Ch 7 charter (the protection portion) to progress to where we would like them to? I believe not. JMHO.

Worst case – they are released from the Oil-for-Food portion of the UN Ch 7 sanctions – which is the last of the active CH 7 sanctions and allows them to sell oil more freely on the open market. Great. Huge move forward.

I am going to be somewhat reserved until a official U.N. announcement of a full release from CH 7.

It’s also curious how they managed to hold an international bond offering without this previously and were successful??

My advice – NO MATTER WHAT… calm down. There is an extraordinary amount of jumping from A to B to Z in the community right now. None of the assumptions have to be correct. Relax – wait for the facts.

Don’t add to the “internet hysteria” going on right now…

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Image result for UN pics SECURITY COUNCIL
8126TH MEETING (AM)

All Measures Imposed under Iraq Oil-for-Food Programme Implemented in Full, Security Council Concludes, Unanimously Adopting Resolution 2390 (2017)

The meeting started at 9:45 a.m. and ended at 9:48 a.m.

Resolution

The full text of resolution 2390 (2017) reads as follows:

“The Security Council,

“Recalling its resolutions 1958 (2010) and 2335 (2016),

“Acknowledging receipt of the final report of the Secretary-General pursuant to paragraph 4 of Security Council resolution 2335 (2016), S/2017/820,

“1. Welcomes the implementing arrangements entered into by the Secretary-General and the Government of Iraq as requested in paragraph 7 of Security Council resolution 1958 (2010);

Read more: http://www.dinarupdates.com/blog/
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Masoum calls for the unification of the Iraqi banking system to promote economic reality

President Fuad Masum called on Thursday for the unification of the Iraqi banking system in all parts of the country in order to promote economic reality.

“President Fuad Masum received at the Peace Palace in Baghdad on Thursday, the governor of the Central Bank Ali al-Aalak,” said a statement by the president of the republic.

Read more: http://www.dinarupdates.com/blog/
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Governor of the Central Bank of the first economic profile for 2017

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The role of scientific research in developing the reality of the Iraqi economy

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Where is the Iraqi economy?

Read more: http://www.dinarupdates.com/blog/
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Post RV Checklist (it’s getting to be that time!! Listen up!!)

Dos and Don’ts of Windfall Wealth:

Treat it like a PowerBall win

– Tell no one, not even family. If you must talk, do so with one who is already in the know.

– Don’t run out & buy new “stuff”. People notice.

– Get an unpublished number and give it out very sparingly.

– Get a tax accountant you can trust to make sure the IRS is satisfied (Certified Opinion is something to look into) and pursue asset protection…