Economic recovery
The signs of economic dislocation in Iraq are looming after an important page of disability has ended with a “da’ash” strike.
Yesterday, Iraq signed several economic agreements with France during the recent visit of Abadi, an economically advanced country.
Today, the visit of the Prime Minister to Saudi Arabia has achieved great successes and culminated in the founding of the Constituent Council for Economic Cooperation between Iraq and Saudi Arabia and the signing of economic agreements.
This move will bring Iraq back to the ranks of the developed countries, which brings us back to the global expectations that Iraq will be the eighth tiger among the seven tigers after his salvation from the challenges he faced.
Read more: http://www.dinarupdates.com/blog/
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Saudi companies put investment in Iraq a priority
Saudi exports development authority confirmed the participation of a large number of Saudi companies in course {44} Baghdad international fair which started on 21st of October/October and continue until 30 of the same month.
The official said Saudi exports development authority, Mazin Al-jasser, the official Saudi press agency quoted {Spa} Saturday, “many deals, negotiated to invest in Iraq.”
He added that “there are many competing products with higher prices and less quality, Saudi products received great desire in Iraq, for their high quality and reasonable price”, pointing to “seek authority sought, by participating in the exhibition, to discover marketing opportunities for products Saudi Arabia in Iraq and facilitate export procedures, in cooperation with the relevant authorities. ”
Read more: http://www.dinarupdates.com/blog/
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Consider mechanisms for establishing sovereign funds that achieve sustainable development
*In a workshop for the Baghdad Economic Forum in cooperation with the Secretariat of the Council of Ministers.
The Baghdad Economic Forum in cooperation with the General Secretariat of the Council of Ministers folded the second episode of a continuous series aimed at finding real development mechanisms that promote all sectors. The two sides discussed in the presence of a group of parliamentarians, economists, specialized institutions and international embassies on the subject of “sovereign funds in Iraq and their role in economic development”. Challenges that limit the activation of projects and the implementation of projects in all cities of Iraq.
The workshop, which was conducted by economist Bassem Jameel Antoine, began with the speech of the secretary-general of the Cabinet, followed by Acting Representative Karrar Mohammed Abdul-Zahra. He said: “The need for sovereign funds in Iraq stems from the possession of natural resources that provide a financial surplus. Saving the surplus and investing it in the process of development and safeguarding the rights of future generations.
Read more: http://www.dinarupdates.com/blog/
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Basra branch director receives US consul
Stressing the need for growth of the banking sector Director of Basra branch receives the US Consul.
The Director General of the Central Bank of Iraq Branch of Basra, Dr. Qassim Rahim Maribat during a meeting with US Consul in the province, Timi Davis, the need to promote the growth of the banking sector and economic development in the southern region.
The meeting, which included the advanced cadre of the branch of the Central Bank of Iraq in Basra, discussed ways to open prospects for cooperation within the banking sector to serve the economic and financial process of Iraq in general and the southern region in particular.
For his part, Timmy expressed the readiness of the US consulate to assist in the development of the banking sector in the southern region, thanking the Director General of the branch and his staff for the gift presented to him, the logo of the Central Bank of Iraq.
Read more: http://www.dinarupdates.com/blog
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Enorrste (Dinar Guru)- “Achieving Growth in Contexts of Great Challenge: The Iraqi Private Banking Sector” The very fact that this conference exists is a good sign. It shows that all parties are aware of the problem and are attempting to work out a solution. The issue of whether any bank coming into a correspondent relationship will find it likely that they will make money is a serious concern. …At the same time there was a clear understanding by one of the members of the “wild west” theory that KAP [Guru Kaperoni] and I have talked about for years. She said almost the same thing we have been saying all along, namely that once the movement begins it will snowball and lead to very rapid economic growth in Iraq. It is the beginning of the snowball that is the current problem. Several members indicated that the laws and regulations are now in place, but that implementation is what is lacking. This, to me, is a positive step. I think that this is a lot like the snowball affect that I just mentioned: it just needs to get started. Once it does the confidence level will rise in bank usage. Once that happens foreign banks will want to get involved as well. [post 1 of 3….stay tuned]
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Enorrste (Dinar Guru) – It is a positive sign to me that all of the representatives on this panel recognize the liquidity problem and understand that getting the money out of the mattresses is the solution. I would venture to guess that the CBI has a plan to push this process along, even to the point of forcing people to use their mattress money if necessary. As with my other comments above I believe that this snowball affect will be the most important, once it begins. The statement by one of the Iraqi bankers…was quite revealing, namely that he appealed to the CBI to just given the banks a checklist of things that need to be done to bring them into full compliance. I would wager that this proposal will be acted upon quickly by the CBI, once it is presented to them, and that full compliance across the board will occur shortly thereafter. One thing is clear: all of the Iraqi bank representatives expressed a deep desire to be fully compliant. The statement was simple: “Just tell us what to do and we will do it!” [post 2 of 3….stay tuned]
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An Iraqi banking delegation discusses in the United States opportunities for cooperation between the two parties
An Iraqi banking delegation discussed with a number of banks and financial institutions operating in the United States of America opportunities for cooperation between the two parties.
The Association of Iraqi Private Banks said in a press statement that “a delegation of 17 private banks, Rafidain Bank, industrial and executive director of the Association of Private Banks Ali Tariq and a number of advisers of the Association held a meeting at the Center for Strategic Studies in Washington with a US delegation including the US Treasury and US banks and OPEC And American financial institutions and a number of employees at the US Embassy and were during the meeting discussed the economy of Iraq and the challenges facing it.
She added that “the meeting discussed the development in the Iraqi banking sector, especially in the past five years and strengthen cooperation with Arab and foreign banks in addition to plans for the reconstruction of liberated areas and development in the oil sector.”
Read more: http://www.dinarupdates.com/blog/
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MilitiaMan (Dinar Guru) – Article: “Official reception of the Prime Minister Dr. Haider Abadi at the Turkish Government Palace in Ankara” …it’s timing, it’s placement. …One more stop for Abadi with Tehran with an olive branch in offering from Iraq, Saudi Arabia, the region in reconciliation to move forward in harmony, in friendship and not to mention, profits for all…
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Adam Montana (Dinar Guru) – Regarding Iraq’s influx of eager business countries/people/companies… of COURSE there are suitors lining up! Iraq is on the way up. It may take a little longer, or it may happen today or tomorrow, but it doesn’t take a genius to see that they ARE on the way up.
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Adam Montana (Dinar Guru) – There is a current agreement amongst a majority of OPEC participating countries designed to control the oil market in the supposed interest of keeping the global economy. I’m not presenting a specific conspiracy theory on that thought, I’m just saying “supposed” because there’s always some kind of backdoor deal or subterfuge going on with anything related to politicians! That’s also not to say that the current OPEC agreement is a bad thing. I feel like it was a good move on many levels, but let’s move on. The current OPEC agreement – and keep in mind, this is a sort of informal, kind of semi-official, non-binding-to-Iraq, completely-beneficial-to-Iraq – yes, that OPEC agreement continues to run a course very attractive to Iraq’s interests. Bottom line – Iraq’s still sitting pretty in it’s ability to potentially skirt the current production limitations and they wouldn’t even feel the need to apologize for getting a nice break. Important date regarding the OPEC agreement: November 7, Vienna Austria. [post 1 of 2….stay tuned]
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G-Lin (Dinar Guru) – Article: “A new project to provide electronic payment services to local banks” “Coordinating Council” Quotes: “while confirming the company portal of Iraq Electronic Financial Services, it is certified according to international standards and instructions of the Central Bank of Iraq, and sets the best global financial practices between De Iraqi citizen to facilitate his life and work for the benefit of financial institutions and bodies of the national economy.” “Iraq and Saudi Arabia are two major economic powers in the world to acquire the wealth of the two sides…” These are exciting arts. This is occuring now not in the future.
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Mike (Dinar Guru) – Article: “Abadi defends role of Iranian-backed paramiltaries at meeting with Tillerson” Quote: “In his opening remarks at the meeting with Tillerson, Abadi said Popular Mobilisation “is part of the Iraqi institutions,” rejecting accusations that it is acting as an Iranian proxy.” These articles are the reality of Iraq right now, it ain’t pretty but it’s the facts. Abadi’s reluctance to remove the Iranians from Iraq is a huge indicator for who’s really in control of Iraq. Tillerson told them to go and Abadi told him to go pound sand. This article is an illustration for why we’re still sitting here waiting for Iraq to move towards an open market economy, it’s because they do what Iran tells them to do, not the US or EU. Hopefully Iran will allow the Iraqi people to move towards an open market economy and things will change for the dinar, but in the meantime, articles like this help answer the question;
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The Central Bank calls on the IMF to intervene in the file of correspondent banking district
The governor of the Central Bank of Iraq on Sunday, the International Monetary Fund to intervene in resolving the issue of boycotting some of the global banks Correspondent with Iraqi banks, stressing Iraq’s commitment to implement its program with the IMF.
“The central bank appreciates the work of the International Monetary Fund team and the flexibility of the policy of advising, as it is important to reach this degree of flexibility and understanding of the exceptional Iraqi situation where it stands out,” Al-Alak said in a speech during a meeting with the Director General of the International Monetary Fund and Central Bank Governors in Washington. The importance of this matter when it comes to balancing the financial situation with social considerations. ”
“Iraq is appreciating if the Middle East section of the International Monetary Fund can provide best practices and facilities and dialogue with shareholders to address this issue as soon as possible,” he said.
“Despite the difficult circumstances, the Iraqi government is committed to implementing its program with the International Monetary Fund,” he said. “I expect that the agreement will be reached on the third review under the program.” He added that “Iraq, like other countries in the region, has a large number of refugees and displaced persons, And it is useful that the IMF’s Middle East section provides assistance in assessing the economic impact associated with it. It is also important that this assessment be made clear in staff reports so as to give the international community an opportunity to provide assistance. ”
“Iraq thanked the government and people of the Kuwaiti government for their valuable support for Iraq, including hosting the Iraq reconstruction conference in the coming months and thanked the IMF for the technical support it will provide to the conference itself,” he said.
Read more: http://www.dinarupdates.com/blog
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Iraq agrees with Saudi Arabia oil pipeline to the Red Sea
Count the State of law Coalition, industry and Energy Minister, Khalid Al-Falih, Saudi oil to Iraq is an important step for the joint economic cooperation prospects between the two countries, noting that it would increase its oil exports by extending oil alanob to the Red Sea.
Attorney on State law Jassim Mohamed Jaafar/balance “news Prime Minister Haider Abadi light came to visit Saudi oil Minister and through which coordinated model and economic relations and political, security and oil between the two countries”.
Read more: http://www.dinarupdates.com/blog/
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Tillerson describes the establishment of the Coordination Council between Iraq and Saudi Arabia job step
The American Foreign Minister Rex Tillerson, Sunday, pleased to establish Iraqi-Saudi Coordination Council, describing the action as “important step” for both countries to strengthen Iraq’s relations with Arabic countries.
Tillerson said at a joint press conference with his Saudi counterpart Adel Al-jubeir in Riyadh, “Coordinating Council as a step towards strengthening the Iraqi Government, which requires renewal of the historical relationship between Baghdad and neighbouring countries”.
He said the Council would have a “great importance in promoting Iraq’s relationship with the rest of the Arabic countries.
Read more: http://www.dinarupdates.com/blog/
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MilitiaMan (Dinar Guru) – Article quote: “Awaji Press learned from her sources that Prime Minister Dr. Haider Abadi is leaving Amman to Baghdad now” Nothing like putting the final touches on to an Iraq Marshal Plan..
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MilitiaMan (Dinar Guru) – Article: “US Treasury: We pay attention to the development of the private banking sector in Iraq” Quote: “The US Treasury announced on Friday that it is paying great attention to the development of the private banking sector in Iraq, indicating that it is optimistic about the opening of relations between Iraqi banks and US banks.” …this is a grand slam! Connectivity to the UST.. “on set 1” Already started…
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Adam Montana (Dinar Guru) – [According to news outlets, Kurdish forces didn’t put up a fight for Kirkuk. It’s reasonable to assume that the Kurds didn’t put up a fight because Kirkuk is not within Kurdish Region of Iraq and also because, in the past, Abadi said that the Iraqi government would eventually come back for Kirkuk.] I believe the issue of “Kurdish Independence” has been successfully put to rest for the time being. The Kurds are certainly not in a position to successfully separate from Iraq, so they may as well open the doors to resolving Article 140 and the HCL, which is exactly what we are seeing.
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G-Lin (Dinar Guru) – Article: “Saudi diplomat: The next stage will witness huge work with Iraq” Quote: “The Saudi Royal Airplane arrived yesterday evening in Baghdad with a large Saudi delegation, the largest after a 27-year break between the two countries, to participate more actively in the Baghdad International Fair in its 44th session, which begins on Saturday.” This is really a big deal. It shows how much more progressive Abadi is versus Maliki. Saudi is about 85-95% Sunni. Maliki hates Saudi. It wouldn’t surprise me to see an invitation to the GCC extended to Iraq in the near future.
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Rafidain Bank calls on citizens to update their data in preparation for the implementation of the electronic system
Called Rafidain Bank, on Saturday, citizens to review the branches to update their data in preparation for the implementation of the electronic system.
The bank’s media office said in a statement that in preparation for the implementation of electronic banking system instead of the paper system, citizens and all its customers must review its branches in Baghdad and the provinces to update their data and complete the necessary documents related to them.
He added that “this step has reached advanced stages for the acquisition of electronic banking system and leave paper dealing and the introduction of electronic processes in the completion of transactions of citizens,” adding that “this system allows the customer to benefit from the facilities provided by the bank through the completion of operations and simplify procedures.”
Read more: http://www.dinarupdates.com/blog
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US banks are considering the mechanism of working with Iraqi banks
Baghdad Mawazine News – An Iraqi banking delegation discussed with a number of banks and financial institutions operating in the United States of America opportunities for cooperation between the two parties.
“A delegation of 17 private banks, Rafidain and industrial banks and the executive director of the Association of Private Banks Ali Tarek and a number of the Association’s advisors held a meeting at the American Center for Strategic Studies in Washington, DC, with an American delegation,” the Association of Iraqi Private Banks said in a statement. The US Treasury, the American banks, the OPEC Foundation, American financial institutions and a number of employees of the US Embassy. During the meeting, they discussed the Iraqi economy and the challenges facing it.
The Association said that “the meeting discussed the development in the Iraqi banking sector, especially in the past five years and strengthen cooperation with Arab and foreign banks, in addition to plans for the reconstruction of liberated areas and development in the oil sector.”
Read more: http://www.dinarupdates.com/blog
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BGG – Article: “Iraq Will Remain United By HAIDER al-ABADI OCT. 18, 2017” Quote: “In June 2014, the cover of Time magazine echoed a sentiment common among pundits and outsiders: “The End of Iraq,” it read. I am proud to say that three years later, thanks to the Iraqi armed forces and the Iraqi people, these predictions were wrong…” What is Abadi up to?? Why submit this to the NYT today?? Of all the times to be concerned with what the world thinks. It appears there may be much more riding on this than we can imagine.
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G-Lin (Dinar Guru) – Article: “An Iraqi banking delegation discusses in the United States opportunities for cooperation between the two parties” …it has been a good news week. The meetings in N.Y and Ali sitting down with the U.N. was historic. A first. Iraq is a very important country to the entire world. That tells us a lot.
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Kaperoni (Dinar Guru) – Article: “Iraq announces the electronic gate near the completion of the infrastructure and the launch of commercial services building” Quote: “The scope of its work, issuing prepaid cards through the global payment companies, owning and deployment of payment points and ATM network as well as providing various services to banks and facilitate the payment of bills and collection process.” I hate to say it but this seems like a work a round (using prepaid cards) from the goal of opening the banking system to the worlds financial system. Time will tell.
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Adam Montana (Dinar Guru) – Article: “Oil stabilizes with support from supply contraction and expectations of an OPEC extension” Quote: “Oil prices held steady on Thursday, supported by continued OPEC-led output cuts and tensions in the Middle East, as well as a drop in US production due to hurricane closures.” Semantics are everything sometimes… such as here. “supported” – not demanded or mandated. “OPEC-led” – This is HUGE. OPEC is leading this initiative, this agreement, this voluntary agreement. Iraq is still free to break the mold, RV and sell a gazillion barrels tomorrow to fill their coffers and support the increase in exchange. It’s going to cause a little disturbance in the world, but 2 days later Iraq (or the PTB in Iraq) simply pretends to apologize (that’s how it works!) and 5 days later the world adjusts and we move on.
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Iraq Will Remain United
By HAIDER al-ABADI OCT. 18, 2017
BAGHDAD — In June 2014, the cover of Time magazine echoed a sentiment common among pundits and outsiders: “The End of Iraq,” it read. I am proud to say that three years later, thanks to the Iraqi armed forces and the Iraqi people, these predictions were wrong…
Read More: http://www.dinarupdates.com/showthread.php?54989-Iraq-Will-Remain-United&p=179863#post179863
BGG ~ That is right Bobby (and thank you – BTW). What is Abadi up to?? Why submit this to the NYT today?? Of all the times to be concerned with what the world thinks. It appears there may be much more riding on this than we can imagine.
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G-Lin (Dinar Guru) – Article: “Deputy publishes the text of the agreement of Hadi al-Amiri and Pavel Talabani on the disputed areas” Quote: “…the text of the agreement between the leader of the Popular Rally Hadi al-Amiri and leader of the Patriotic Union of Kurdistan Pavel Talabani on the disputed areas and the elimination of the idea of independence…” I really don’t know what all was promised by Iraq to Kurdistan but what a drastic change in the last 72 hours or so. It seems Kirkuk issues are worked out and Iraq is flying their flag and Kurds are o.k. with it. Heck last week the Kurds had about 10,000 troops in Kirkuk ready to fight to the death. Today they are all holding hands singing Kumbaya in a flower filled valley. Sure makes me think 140 and HCL may have been settled. I have never seen so many arts. talking about unity for Iraq. That equates to security and stability IMO. Now they need to…open their country up to the wealth and prestige the people so desperately deserve. Oh and us too.
BGG ~ How is it possible for anyone to think 140 and the HCL have been settled?? They just narrowly avoided a civil war over the HCL (oil distribution) and the U.S. JUST offered a year long “expedited process” of negotiating the next article 140 agreement. HOW CAN ANY REASONABLE COMMENTATOR SAY SUCH THINGS??
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Adam Montana (Dinar Guru) – Article: “ISIS SURRENDERS IN IRAQ” …you’ll get the impression that Syria is kicking some ISIS butt. And that impression is correct! I still feel like ISIS is no longer a critical matter for the progression of Iraq’s economy and global standing…
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Enorrste (Dinar Guru) – …KAP has found the actual reference that clears up this matter. …in some odd way, Allak was telling the truth. …however…this appears to be duplicitous and gives a false impression. KAP is right: Iraq is not yet ready. Much needs to be done. I would be surprised under the current circumstances if they began the float on January 1, 2018. However, strange things come from this country, so I will hold a glimmer of hope. Saleh has said numerous times that the change to a float should take place at the beginning of a new year.
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Kurdish list calls Barzani to apologize and end his “political life”
Baghdad today – The Kurdish new generation called on Monday for Barzani to apologize to the people of Kurdistan and immediately resign from his post, ending his political life, while threatening to resort to the street.
The list said in a statement that “Barzani and the leadership of the five ruling parties in the region must submit their resignations immediately, because they are the cause of the current situation,” indicating that “if the regional leaders did not recognize responsibility for these events, they will seek to move the street to end this government Failed “…
Read More: http://www.dinarupdates.com/blog/
BGG ~ While I doubt very much Barzani jumps up and resigns today because one of the fringe opposition parties says he should…
…this is exactly the developing narrative I outlined from very early on. This referendum had NOTHING to do with Kurdish independence and EVERYTHING to do with KRG internal politics.
All of which is why you saw the Gorran/PUK support for the vote softening in the last week leading up to the referendum. They had it figured from very early on. They had an idea of what the U.S. deal looked like. They knew Barzani passed on their GOLDEN TICKET. Why? Simple.
The Kurdish GOLDEN TICKET didn’t include Barzani as the regional President anymore… in fact, the documents referred to his role “post-Presidency”. It looks like, at this point, he had no intention of bowing out of the KRG ruling class during this next electoral cycle. It was all lies.
Let’s see which way he jumps next.
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Jester (Dinar Guru) – I WILL TELL YOU THIS… IT IS GOING TO GET WORSE BEFORE IT GETS BETTER… WE ARE WARNED THAT THERE WILL BE DELIBERATE MISINFORMATION FROM MANY PLACES INCLUDING THE MEDIA… SO KEEP YOUR STUFF TOGETHER AND STAY CALM… I HAVEN’T MESSED YOU UP YET… SO AT LEAST YOU KNOW IT IS COMING…
BGG ~ WHAT?!? Things just got VASTLY BETTER TODAY!! Quit listening to CNN – they are ALWAYS WRONG.
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Adam Montana (Dinar Guru) – Parliament is active right now. They are addressing a myriad of topics, passing and approving items, getting stuff done… but we are all wondering “What about HCL and Article 140?”, right? This is to be expected, in my opinion. Those two subjects are “catalyst items”, and once they go through, there’s no putting that toothpaste back in the tube! In fact, once they are even brought up in a serious manner, that is the start of an avalanche that won’t be stopped. As we all know, avalanches start with something as small as a single pebble… so don’t let the waiting get you down. Once this baby starts sliding, it’s going to happen fast.
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Frank26 (Dinar Guru) – Article: “Media leaks: Barzani will resign in a speech today” Quote: “According to media leaks, Barzani will resign from office and will transfer all his powers to the Prime Minister.” B will resign …(Wednesday)…He pushed it too hard…
BGG ~ Woops – yesterday was Wednesday… Que the music “…another one bites the dust… and another one down – another one down… another one bites the dust…”
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Kaperoni (Dinar Guru) – Quote: “Iraq continues to avail itself of the transitional arrangements under Article XIV, Section 2 but no longer maintains any exchange restrictions or multiple currency practices subject to Article XIV, Section 2, and currently maintains one exchange restriction and one multiple currency practice (MCP) subject to Fund approval under Article VIII, Sections 2(a) and 3.” They need to payoff Jordan and get the spread within 2%. The problem is the spread is going in the wrong direction. Today, it is about 9%. The gurus are jumping all over this as if to say Iraq is in compliance and currency reform could begin anytime. Wrong! They may not disclose the time they begin currency reform, but if they want international banking (freedom of movement of capital) to perpetuate the influx of investment capital they have lots of work to do. And we can chart that progress. [post 2 of 2]
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Kaperoni (Dinar Guru) – Article: “Governor of the Central Bank heads to America to attend meetings of the International Monetary Fund and the World Bank” This visit with Allaq is nothing more than a “duckies and bunnies” show. Those listening to him at the event might believe what he is saying, but those of us who follow and read all the news, reports, etc know the CBI has a lot of work to do if they want international banking (CBI law, deposit insurance, IMF Article VIII compliance, etc.) Technically, Allaq is correct that he has no restrictions…but that is under Article XIV… [post 1 of 2….stay tuned]
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Walkingstick (Dinar Guru) – [I am also happy with the announcement that recently came directly from Alak about restrictions being removed...] I can, say this…it was not a message to all, as…a whole…But, a message to particular entities…Delivered, in a calculated time frame…months, after the fact...For, very good reason/s…If, events continue as they have…we will, hear…much more from the CBI Gov…shortly.
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Kaperoni (Dinar Guru) – Article: “Governor of the Central Bank heads to America to attend meetings of the International Monetary Fund and the World Bank” This visit with Allaq is nothing more than a “duckies and bunnies” show. Those listening to him at the event might believe what he is saying, but those of us who follow and read all the news, reports, etc know the CBI has a lot of work to do if they want international banking (CBI law, deposit insurance, IMF Article VIII compliance, etc.) Technically, Allaq is correct that he has no restrictions…but that is under Article XIV… [post 1 of 2….stay tuned]
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Walkingstick (Dinar Guru) – [I am also happy with the announcement that recently came directly from Alak about restrictions being removed...] I can, say this…it was not a message to all, as…a whole…But, a message to particular entities…Delivered, in a calculated time frame…months, after the fact...For, very good reason/s…If, events continue as they have…we will, hear…much more from the CBI Gov…shortly.
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Randy Koonce (Dinar Guru) – …Iraq needs a currency. That is a fact. But, before they could address the needed currency, they first needed to get their country to a position of feeling safe. Stability and Security. So, the US agreed, and has assisted Iraq on clearing ISIS out of Iraq… Did that mean they had to do that in order to RV? NO! This was the preference of what IRAQ wanted to do, prior to establishing an international, valuable currency. So, the US also wanted the defeat of ISIS to be complete. For that reason, the next ‘Window’ for watching for a change in their rate will start on Tuesday, October 17, of this week and go to the end of the month.. The greatest pressure for this to happen will be this week… Please understand: There is NO back door on the time frame for the RV to occur. The pressure is coming from the Void of any money in Iraq. They need to get commerce moving, and increasing the value of their money will make that happen. …The RV will assist in furthering the whole Security and Stability issue. So the pressure is on. Why do I give a ‘window’ verses an exact time? Because i do not control this thing. If I did, it would have happened a LONG time ago!… [post 1 of 3….stay tuned]
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Randy Koonce (Dinar Guru) – If someone tells you that it is a pipe dream, just remember: Iraq’s Currency was 2.75 even with Sadam Hussien in charge. Also, it is a fact that the US promised to let them restore their currency, once the fighting was finished. And now, You say: “Ok! They quit fighting and US pulled out… leaving a void…and everything went to hell in a hand basket.” Yes, you are correct. Obama did not want this to take place until Hillary lost the election… The only reason he did not pull the trigger on it sooner, was because Iraq wanted and needed a higher rate, and he didn’t want to give it. Bottom line – It’s all been politics!… Speaking of Rate: We understand that Iraq has been given option to choose their Rate with Trump. So, the Range is 2.00 to 3.71. The only way to know what it will be, is wait until it comes out… Some say .10 cents and float it up…. Well, Kuwait did that and for that very reason, this will not happen. Kuwait had a government that operated better than Iraq does even today… And when Kuwait floated their currency, it hurt the progress economically of Kuwait. It went too high too quickly, and then on the way down, it nearly crippled the country until it finally stabilized around 3.60. [post 2 of 3….stay tuned]
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Randy Koonce (Dinar Guru) – So learning from the mistake that Kuwait made, the CBI said the ‘Float’ will be ‘Managed’… What does Managed mean?… if you look at the currency now and realize it has been this price for at least 10 years – that’s a Managed Float! … They control the rate…. they peg it off of the Dollar and the British Pound so that it will not move unless they want it to. Which is the reason they will need to RV the currency to get the rate they need…Are there any Laws that need to be passed before they let this go? NO! Everything is just waiting on Iraq to do this ‘Thing’! Do not get discouraged! Just put on your big girl panties (or big boy, as the case may be) and let this happen. Be happy about the timing… We are close. Every large bank will exchange.. RELAX the RV is coming... Breathe,,, Check www.cbi.iq every day to see if it has changed. [post 3 of 3]
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Governor of the Central Bank heads to the United States to attend meetings of the IMF and the World Bank
The central bank announced on Sunday that the central bank governor has gone to the United States to participate in meetings of the International Monetary Fund and the World Bank.
The central bank said in a press statement received by “Economy News”, “headed a delegation headed by the governor of the Iraqi Central Bank Ali al-Alak to the United States to participate in meetings of the IMF and the World Bank this week.”
He added that “it is hoped that the meeting on the sidelines of the meetings of a number of central bank governors headed by the Governor of the Central Bank of Holland and the Governor of the Central Bank of Saudi Arabia,” noting that “there will be a meeting with the Chairman of the Board of the Arab Monetary Fund in addition to meetings with a delegation from the Treasury and the Ministry of Foreign Affairs And many other economic and financial figures. ”
Read more: http://www.dinarupdates.com/blog/
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Frank26 (Dinar Guru) – [If you can explain the difference between a program rate? As like Iraq in comparison to the the VND?] VND IS NOT A PR…VND IS GROWING…THEY HAVE MORE THAN ONE RESOURCE…THEY HAVE INVESTORS THEY HAVE A SOLID GOV AND CENTRAL BANK…IRAQ DOES NOT…ALTHOUGH GETTING THERE FAST!… HENCE A PR. [Why does the Dinar have to revalue? The dong hasn’t revalued and the economy in Vietnam is much better than Iraq’s…] BECAUSE THE DONG IS NOT AT A PR ( program rate)…LET IRAQ GO FROM A PR VIA ART 8 AND WATCH THE IQD RUN PAST THE DONG LIKE THE WIND.
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Frank26 (Dinar Guru) – [If the multiple currency practices and exchange restrictions have been removed, then why haven’t we seen a rate change?? I thought that’s what we were waiting for. What am I missing here?] Patience…To allow the lite fuse to hit the powder… [One question…do we still look for the speech from A?] YES.
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Frank26 (Dinar Guru) – IMO…THE RI IS COMING…AND INTROS A FREE FLOAT…THEN FOR ABOUT 70 TO 80 DAYS LATER THEY WILL CAP WITH A CONTROLLED FLOAT OF THE RV… [RI to a free float, then to a cap where it will be managed. Once they reach the cap rate, do you think it will stay in that range or drop back down?] FIRST OF ALL…RI IS THE FREE FLOAT… NOT TO IT…TIME IS NOT REQUIRED FOR THAT PHASE…SECOND …ONCE CAPPED AT PEAK OF RV IS BECAUSE THE IQD WILL…NEVER NEVER NEVER EVER GO DOWN ONCE AT RI / RV. [Is the RV the same as an international rate?] WELL…I SUPPOSE…FOR AN RV INTRODUCES THE IQD TO THE INTERN MARKETS THAT WANT TO GET THEIR HANDS ON IT TO USE IT IN TRADE …BUYING AND SELLING WHICH WILL ROCKET THE VALUE OF THE IQD INTERNATIONALLY. [This is not meant to be a rate…What opinion do you…have that will be the high vs low for Iraq’s currency at his peak rate post RV?] IMO…RI 1 RV 4…
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U.S. Priorities in the Kirkuk Standoff
In the coming days, Kirkuk will either explode into open fighting between Kurdish and Iraqi forces or spur a much-needed dialogue between Baghdad and Erbil.
On October 12, the oil-rich Iraqi province of Kirkuk came very close to witnessing a major clash between two U.S.-armed militaries — the federal Iraqi army and the forces of the Kurdistan Regional Government (KRG). The army has been unable to access its old bases in Kirkuk since its June 2014 collapse at the hands of the Islamic State, and Kurdish Peshmerga have since taken full control of these areas and their oil fields. The recovering federal military has now made its first attempt to reenter the Peshmerga-controlled zone.
Yesterday, a column of army units, special forces, and Popular Mobilization Forces loyal to the moderate cleric Grand Ayatollah Ali al-Sistani advanced over the Kurdish frontline berm south of Kirkuk city, within a fifteen-minute drive of the provincial capital and key oil fields. Local Peshmerga reportedly came very close to firing on these forces, which halted just in time after Iraqi prime minister Haider al-Abadi received a phone call from one Kurdish faction — the Patriotic Union of Kurdistan (PUK) — asking for forty-eight hours to confer internally and with the other major Kurdish faction, the Kurdistan Democratic Party (KDP). The clock is now ticking, and the deadline will expire by early Sunday morning local time.
Read more: http://www.dinarupdates.com/blog
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Chattels (Dinar Guru) – “Iraqi PM appoints an ARab governor for Kirkuk Haider al-Abadi, prime minister of Iraq has appointed an Arab politician named Rakan Saeed to replace Najmaldin Karim as the governor of Kirkuk.” Abadi is doing what he has to do politically to survive by acting upon the pressure upon him from hardline Shia political actors in Baghdad… …and we have a conflict and controversy over the right of a state to secede from a union. There has been controversy over the Kurdistani flag being flown in Kirkuk for some time. Flying the Iraqi flag by Abadi is symbolic of the will of Baghdad being enforced. Abadi flying the Iraqi flag has nothing to do with a truce. It is his way of declaring dominion and control. Mission accomplished according to him.
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Chattels (Dinar Guru) – Article: “Iraqi Vice President Ayad Allawi warned on Monday there could be a “civil war” over the Kurdish-administered city of Kirkuk if talks over Kurdish independence are left unresolved.” The US has no control and minimal influence upon the Shia Parliament in Baghdad. Which is why Barzani wanted ironclad commitments from Baghdad with international support and not more promises only from the US diplomatic corp. Barzani may be wrong, but he is not insane. He is not going to do the same thing and expect a different result. [I cannot help but feel the whole thing is orchestrated!] There is some belief that it is orchestrated, but…I do not believe that Iraq is risking civil war to orchestrate a liquidity event for us or disguise a revalue of their currency.
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MilitiaMan (Dinar Guru) – Quote: “The general orientation of the central bank is working to restore the Iraqi dinar exchange rate against the dollar to its former glory in collaboration with government banks, indicating that the bank seeks to make way for government banks to carry out sale the dollar put pressure on speculators in the markets.” Well this is obviously a word to get attention.. Glory be it! What other glory is there than bring back your currency to it’s real value and away from a program rate? We all know the banks are meeting with the UST and have been for some time now. Are the final touches in place? I’ll bet so. Even Abadi today is just about ready to tell the world the final inches of Iraq are liberated from ISIS. Security and stability, is at hand. Therefore, imo the remaining touches if you will are being done and in a very timely manner. 9-15/2017 IMF, 10/16/2017 Private Banks and the UST and then 10/18/2017 Iraq and US represented by the Institute of Strategic Studies. Go figure.. A global think TANK! wink then ka boom lol that fast..
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Iraqi and US banks meet in Washington
Baghdad / Hussein Thogb The presence of adults on the field of international work comes in any case, where conventional economies are not usually not important international attention of the largest economic blocs, and here comes the presence of Iraqi banks and US banks in Washington evidence of the importance of Iraq and its economy for the side The other who is aware that the size of work in our country is large and can be employed in the financial and executive sector in more than one sector within Iraq. Preparations continue between Iraq represented by the Association of Iraqi private banks and the US States represented by the Institute of Strategic Studies, And an Iraqi-US meeting on October 18.
Great cooperation: The Executive Director of the Association of Private Banks Ali Tariq said: “Iraq has a great international interest that can be noted by the presence of international delegations from various economic blocs important to Baghdad, there is great cooperation between the Association and the US Treasury through continuing meetings to discuss mechanisms to promote the Iraqi financial sector.”
Read more: http://www.dinarupdates.com/blog
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BGG Article: “Issuing arrest warrants against the president and members of the commission supervising the referendum” Quote: “Al-Rusafa Investigation Court on Wednesday issued arrest warrants for the president and members of the Kurdistan Regional Commission (KRG), which oversees the referendum, in violation of the decision of the Federal Supreme Court.” …note how it refers to the KRC as the (KRG)… implying this is Barzani they have issued an arrest warrant against. (and probably Karim – not good for him to have been snuggling up to the current KRG)
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Adam Montana (Dinar Guru) – When Abadi vs Maliki was happening, that was another major step for Iraq. Again, it wasn’t a promise of immediate RV, but let’s face it – a major change in value of the Dinar was never going to happen with Maliki at the helm. Maliki simply had no reason to act in Iraq’s best interest when he had such a huge ability to pilfer the system under his power. I firmly believe that Abadi is not like Maliki, and when he won that battle, our landscape changed for the better…but even that was not enough. There was still the issue of the HCL, which MUST be resolved before (or simultaneously with) an RV. Now let’s look at today…this immediate point in time, where once again the rumor mills are churning and people are getting excited. I’m going to make two specific statements right now, and I hope they stick: 1. None of the gurus can call the Date. 2. Despite #1 above, the current level of activity is not to be ignored. Things ARE happening. [post 2 of 2]
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Adam Montana (Dinar Guru) – Lots going on right now. I’ll say one thing for all the rumors… they may not seem to get the “dates” right, but when there’s buzz on all the rumor sites…it is usually right in front of a big event. …Before Chapter 7, there was a crazy amount of hype. You all know I temper my posts, in an effort to keep people grounded, but even I got pretty excited about that event. It was a major milestone, and a significant key to Iraq’s progress. The rumor sites all promised an RV at that time, and it was certainly a possibility, but we all know it wasn’t a certainty. [post 1 of 2….stay tuned]
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Iraqis demand trial, execution of Maliki over Mosul fall to ISIS
Iraqis demand the trial and execution of former prime minister Nouri al-Maliki for being responsible for Mosul’s fall in ISIS’ grip, Zuhair al-Jabouri, the spokesperson of Nineveh Guard said on Saturday.
This comes as a response to Maliki’s accusations, as he claimed that Mosul’s residents are behind the city’s fall.
In press statements, al-Jabouri noted that Mosul’s residents shall not be held accountable because they did not give orders to five military brigades to withdraw from the battlefield, adding that this order facilitated the city’s fall in ISIS’ clutches.
At the time, Nineveh provincial council and its governor have asked for Peshmerga soldiers’ help to fight ISIS, which was officially and categorically rejected by Maliki, he added.
Mosul’s residents collaborated with ISIS, causing the fall of the city in 2014, Maliki said in a statement to Sputnik, a Russian news agency, on Friday before his visit to Moscow.
On Saturday, former governor of Nineveh Atheel al-Nujaifi lashed out at former prime minister’s over his latest statements.
Earlier, the parliamentary legal committee requested last month the attorney general to reopen the issue of Mosul’s fall in ISIS’ grip, a move that will lead to the trial of Iraqi officials, including Maliki.
Read More: http://www.thebaghdadpost.com/en/story/14739/Iraqis-demand-trial-execution-of-Maliki-over-Mosul-fall-to-ISIS
BGG ~ This piece is from July 23rd, 2017. It is recent. No one has forgotten. Maliki will not escape the coming wrath. Whatever place he is trying to bribe his way into will not help him.
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Kaperoni (Dinar Guru) – Article Quote: “The government is currently preparing to launch its plan for sustainable development for the years (2018-2030), a vision refers to giving a clear and essential role of the private sector in all fields, and certainly the funding area is the foundation.” I’ve said it before, until they open up the banking system to the world, there is no private sector. Looks like they might be moving towards that soon…
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Aggiedad77 (Dinar Guru) – Article: “Improving the business environment in Iraq” Coming to an Iraq we all know and love…IMO the BEST is coming get ready for it…oh BUDDY get ready for a change in our lives like none we have ever imagined……excited doesn’t even begin to touch.
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Kaperoni (Dinar Guru) – Article: “Economic partnerships between Iraq and Egypt” Quote: “In light of the growing relations between Iraq and Egypt, the government is moving to open the doors of cooperation in the commercial, industrial and investment fields between the two countries, which could pave to reach common agreements contribute to the formation of an effective economic force in the region.” I find this interesting since Egypt is now floating the pound.
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Urgent: Iraqi court issued an arrest warrant organizers of the referendum in Kurdistan
The arrest of the arrest of the president and members of the Commission of the Kurdistan Region supervising the referendum, which said that contrary to the decision of the Federal Court.
Judge Abdul Sattar Birqdar, spokesman for the Supreme Judicial Council in an interview with the news of the news, that the Court of Inquiry Rusafa issued an arrest warrant against the President and members of the Commission supervising the referendum in the Kurdistan Region.
“The order was issued on the basis of a complaint submitted by the National Security Council against the background of holding the referendum contrary to the decision of the Federal Supreme Court,” Berkdar said.
“The court issued an arrest warrant against the accused in accordance with Article 329 of the Penal Code,” he said.
Read More: http://www.dinarupdates.com/showthread.php?54769-Urgent-Iraqi-court-issued-an-arrest-warrant-organizers-of-the-referendum
BGG ~ There is an alternate translation; which refers to the KRC as the (KRG)… implying this is Barzani they have issued an arrest warrant against.
(and probably Karim – not good for him to have been snuggling up to the current KRG)
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Breitling (Dinar Guru) – …People are investing in the dinar just like me but they are pretending and going about their business as if it’s going to happen tomorrow. So what if it happens tomorrow? I’m not saying it’s not. But they’re betting on it. In fact it’s part of their budget. You guys…No. No. That’s the worst thing you could do…until you have that money it is not real…So just have your game plan in front of you and your head in the game correctly. What an opportunity. I love the dinar. It’s a great opportunity. I love being in it…I made a killing off the ISX and I think I’m going to make a killing off the dinar also…
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mike (Dinar Guru) – Article: “Saudi newspaper: Washington threatens Iraqi forces to bomb if Baghdad resorted to the military option against Kurdistan” [Really, this is good news for us. The day the US abandons a united Iraq is the day our investment is worthless. This tells me the plan is still in place…] I will say that the Kurd’s only produce roughly 500,000 bpd while Basra and the rest pump roughly 3.5-40 million bpd, the Kurd’s financial contribution to the overall state is probably closer to a push than a win. I’d definitely agree that Barzani and the Kurd’s are using this for global leverage for recognition and support from Baghdad. [post 1 of 2….stay tuned]
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Follow us on twitter @DinarUpdates !!
Dinar Updates – Q & A Call – from BGG & Company – Oct. 10th – 8:00 PM CST 641-715-3639 pin #528733
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Chattels (Dinar Guru) – The next phase of operations against Da’ash is western Anbar and securing the Syrian border with Iraq. I have opined that the completion of such may be a red letter date for many things in Iraq.
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mike (Dinar Guru) – …these guys haven’t received any support from Baghdad; government salaries, infrastructure, displaced persons and military hardware for the fight with ISIL since March 2014. They had to do something profound to get everyone’s attention, why hasn’t anyone jumped in during that time to support and demand Baghdad’s negotiations with Erbil? Well, they got the worlds attention now, hopefully they’ll use this to win concessions and support that’s designed to unite the country, no divide. Baghdad’s response to the referendum is nothing but punitive, maybe they should try more carrot and less stick. [post 2 of 2]
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MilitiaMan (Dinar Guru) – Article: “The Association of Private Banks holds a risk management training course“ [Yes…fits perfectly with the CBI stating that it can’t start in the middle of a year, has to be at beginning…IMO] I doubt this is the beginning as we have already had first classes publicly months ago. There is data that suggests classes were complete imo back in late September… So, imo if that data is representing the classes we have learned about here, the likely hood that the classes are over already just not full publicly announced yet, is highly probable imo. Thus, it would not support the beginning of the year just because that was a time frame mentioned in past. The -notion that may be out there they will broadcast specific Monetary reform projects that are currency speculation sensitive are not going to be taken lightly, thus, the data would not be deseminsted in real time publicly. We have all witnessed imo a lag time in news and if that news is even further behind than thought in some forms… Imo, this is as good a time as any to just go boom…imo
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Economic consultant: More than 172 factories have been suspended since 2003 – until now
Trend Press / Baghdad – The adviser to the Prime Minister for Economic Affairs, the appearance of Mohammed Saleh, that the reopening of sugar factory Sumer is a step to restore Iraqi industry again, revealing the existence of 172 plants have been idle since 2003 and until today.
“The trend towards a market economy to be a strategic partner with the private sector is taking place for the first time in Iraq, which is a correct step to restore the movement of Iraqi industry again,” he said in a statement. % Since 2003 and so far.
He stressed that “the only solution to address the wheel of the Iraqi economy and the return of laboratories is to engage the private sector with the state in the market, noting that Article 14 of the Federal Budget Law 2017 provides for partnership between the State and the private sector.”
The Minister of Industry and Minerals Mohammed Shiaa al-Sudani opened on Tuesday Sumer plant.
Read more: http://www.dinarupdates.com/blog/
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Breitling (Dinar Guru) – You have the kurds, what they are going through…but it’s not going to render what Iraq does with its currency…Let’s say they do separate and they do take some of that oil profits away from the rest of Iraq. What would Iraq do? You guys know the answer. They would add value to their currency. They’d have to make up for that. How would that make up for the oil loss…? Because they can take that money and invest it in the interior of other countries…The overall key is their economy is being attacked…what to they [countries] do? They invest in foreign entities, foreign bonds, foreign currencies…and what do they [countries] need to do to do that? They need to raise the value of their currencies a little bit…So what can Iraq do? [Post 1 of 3 Stay tuned for the rest of the story…]
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Aggiedad77 (Dinar Guru) – Article: “Involve the private sector to prepare development plans…And the transition to an open market economy” STRONGLY IMO…they are laying out a plan of action here not just for now, but the next 10 years…doing it in TWO stages and going to get the private sector to be a big part of the plan… Why…because this is exactly how a country who is an international leader would do things…they know it is a TEAM effort and everyone needs to be involved… An open market economy…screams of internationalism…a free economy…does the same thing...the game plan lays here in front of you… Abadi needs to light the fireworks with his speech IMO…and we will see a display of colors like no other as things progress at a rate that will blur the mind…all IMO.
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BGG – Article: “Economic expert: Iraq cannot trade in its local currency” Quote: “Iraq’s agreement with other countries for commercial exchange through the local currency and abandonment of the dollar will have a positive return on the economy,”…“noting that” trade in local currency will reduce the inflation rate significantly because of the lack of the need to buy Dollar or reduce the proportion of purchase.“ You do realize what they are talking about here – right? This is a fairly direct reference to the “deleting of the zeros” project in a veiled sort of way. Fact. [post 1 of 2….stay tuned]
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Economic expert: Iraq cannot trade in its local currency
BAGHDAD (Reuters) – Iraq’s agreement with other countries to trade through the local currency and abandonment of the dollar will have positive repercussions on the economic situation, the economic expert said on Thursday, pointing out that Iraq cannot take such steps at the moment because of weakness Economy and the absence of national industry.
“Iraq’s agreement with other countries for commercial exchange through the local currency and abandonment of the dollar will have a positive return on the economy,” Smisem said, “noting that” trade in local currency will reduce the inflation rate significantly because of the lack of the need to buy Dollar or reduce the proportion of purchase. ”
The economic expert said that “Iraq cannot take such steps at the present time because of the weakness of the economy and the absence of national industry as it is still dependent on foreign imports and a large percentage,” noting that “the agreement between Turkey and Iran on trade in local currency came because the economy of the two countries Strong and at the same level will benefit the two countries due to the decline of the Turkish lira as well as for Iran, which was suffering from economic sanctions. ”
On Wednesday, Turkish President Recep Tayyip Erdogan announced the use of local currency as an alternative to the dollar in trade between Turkey and Iran. Finished 2
Read More: http://www.dinarupdates.com/showthread.php?54651-Economic-expert-Iraq-can-not-trade-in-its-local-currency&p=179503#post179503
BGG ~ You do realize what they are talking about here – right? This is a fairly direct reference to the “deleting of the zeros” project in a veiled sort of way. Fact.
“Iraq’s agreement with other countries for commercial exchange through the local currency and abandonment of the dollar will have a positive return on the economy,” Smisem said, “noting that” trade in local currency will reduce the inflation rate significantly because of the lack of the need to buy Dollar or reduce the proportion of purchase. “
Even though they are saying they can’t do it right now… doesn’t mean they won’t – or this person has the final say in such matters.
If they want to re-engage with other world economies, this will happen. All of these items appear on a collision course.
However, they won’t be able to lay off the dollar or fully engage internationally at the current value… it is too much of imbalance.
It is going to be interesting to see the outcome of these next meetings with the IMF starting on the 13th here in Washington D.C.
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MilitiaMan (Dinar Guru) – So if we look at the timing of events and the knowledge we have from the plethora of information we have been freely given by many people to use for to find a foundation in our investment that imo is not speculative at all. It is in fact, based on hard data that supports the Iraqi Dinar is by far under valued. We can look at not only natural resources, taxes and tariffs, agriculture, claw back of stolen goods and monies, and to soon be a booming in tourism industry, etc., that supports the value of an international convertible currency at a market rate. The above should give security to those investors even more now. Their money and persons will be safe to move freely! The expectation of Abadi to speak now about full liberation of Iraq is greater than ever before, imo.
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Adam Montana (Dinar Guru) – [In the past you have mentioned you thought Iraq would stand united. I realize the recent referendum on the Kurd’s independence was just that…and nothing can happen with that right away…Long term however, do you see Iraq becoming 3 States?] Long term…. I don’t know. I see the RV happening before any split, though…For now, I’m not concerned about them splitting or not… I just want to see this HCL get done.
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Abadi receives the French minister of armies at his residence in Paris
The head of the armed forces, Haidar Abadi, received on Thursday the French Minister of the Armed Forces, Florence Barley, in the French capital Paris. Abadi noted that Iraq is looking forward to wider cooperation with France in the field of armament and training.
“The success of the liberation of Iraqi cities, the most recent of which is the city of Hawija and the defeat of Badash, is a success for all of us as Iraqis and friends of supporters, because a common enemy is advocated,” the statement quoted him as saying during a meeting in Paris. Our cooperation continues to eliminate its threat. ”
“The completion of liberalization and stability will remain a priority for us,” Abadi said. “We look forward to a broader cooperation with the French side in the field of armament, training and intelligence cooperation.”
Read more: http://www.dinarupdates.com/showthread.php?54653-Abadi-receives-the-French-minister-of-armies-at-his-residence-in-Paris
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Saudi Trade Minister to visit Iraq soon and 60 Saudi companies participating in Baghdad exhibition
A delegation of Saudi economist headed by the Minister of Trade and Investment Majid al-Kasabi, the Iraqi capital Baghdad during the next few days; to participate in the Baghdad International Fair 2017, while referring to the participation of 60 companies in the exhibition.
“The Saudi trade delegation will participate in the Baghdad International Fair due to be held between 10 and 20 October,” Iraqi Ambassador to Saudi Arabia Rushdie Al-Ani said in an interview with Asharq Al-Awsat newspaper. “The participation of more than 60 Saudi companies in the exhibition, .
He added that “this is the first time that Saudi participation in this size at the Baghdad International Fair, as Saudi Arabia took the largest area in the exhibition, and a showroom estimated at a size of 1200 square meters, and the delegates of these companies will offer their products and provide their advisory services and business,” noting that ” The great participation reflects the interest of both countries in promoting economic and trade exchanges. ”
Read more: http://www.dinarupdates.com/blog/
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CENTRAL BANK: DELETE ZEROS IN EARLY 2017
November 7, 2016
BAGHDAD / IBN – The governor of the Iraqi Central Bank on the Keywords that project to delete the zeros will be implemented in early 2017, indicating that the bank began to develop the first steps of the project.
BGG ~ This says they have already began to develop the first steps – indicating they are into the process (in late 2016). This would imply they are further along today… and likely many of the AML, electronic banking and international banking interactions are leading up to the implementation of this project.
Keywords and said in a statement on Monday, received Iraqi transmitter Network (IBN) a copy of the “The purpose of deleting three zeros from the Iraqi currency is to support the Iraqi dinar and make it a competitor of foreign currency,” pointing out that “this strategic project will serve the country’s economy if it will be inclusion of the Iraqi dinar in the global basket of currencies in the vital world exchanges. ”
BGG ~ This is a key phrase: “…will serve the country’s economy if it will be inclusion of the Iraqi dinar in the global basket of currencies in the vital world exchanges. “…
He added that the bank “is working on mechanisms for the implementation of this project is expected to start at the beginning of 2017,” noting that “the central bank began the first steps of the project through the selection of designs, companies and the country in which the currency will be printed.”
He pointed out that “the new currency entry does not mean the destruction of ancient coins, but will continue to trade for about ten years,” pointing out that “this period will enable the central bank to withdraw the old currency in accordance with the dynamics and mechanics in order to preserve liquidity in the market.”
Ibnnews.net
BGG ~ This is the first of the two “flashback” articles I mentioned on the Conference Call the other night. This was published in early Nov, 2016. Obviously, it is easy to see why there was so much excitement over the “first part” of 2017.
BECAUSE THEY SAID SO…
However, there now seems to be have been more to the story. Lots of info in this piece to reflect on though.
Another reason to repost and reflect on this, they have said nothing contradictory since. They are obviously not “on schedule” but they are not denying it either.
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G-Lin (Dinar Guru) – Article: “Iraqi parliament reveals new sanctions for the Kurdistan region” Quote: “...in addition to a package of resolutions, notably the suspension of the sale of the dollar to the region, government and private banks, as well as a lawsuit against four companies.” […why suspend the sale of dollars to Kurdistan?] I’m not real sure about their thinking on this…In an art. posted a few days ago it stated that Kurdistan has 30% of the hard currency in their banks. Also the CBI said they will not stop selling the dollar in Kurdistan. So who has the final word? Independent CBI or Minister of Finance in Parl.? It seems that this move would cut Iraq’s nose off to spite it’s face. It will affect them too. Economist say this is a bad idea. As usual, we shall see how this plays out.
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Baghdad measures and expectations of significant economic revenues from the northern crossings
Baghdad – Journal News – The Committee on Economy and Investment in the Iraqi parliament, that the imposition of the law and the Iraqi constitution on the border crossings in the Kurdistan region will return to Iraq with substantial material amounts.
A member of the committee on “Sobhi al-Maliki,” in a statement to the «Journal News», that “Iraq seeks to impose the law on the border crossings, which was not imposed by law before.”
He added: “A number of things were overlooked when these crossings were under the administration of the Kurds,” noting that “Iraq is able to address the current crises under the roof of the law and the Constitution.”
Read more: http://www.dinarupdates.com/blog/
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Economic recommendations for the integration of Iraq to the Union of the Gulf Cooperation Council
Participants recommended the Gulf-Jordan Economic Dialogue Forum, which was hosted by the capital Amman, with the accession of Iraq and Jordan to the Union of GCC Chambers, in addition to linking the railways between the Gulf, Jordan, Iraq and Yemen.
Al-Muntidi, in which an Iraqi delegation took part, organized the Jordan Chamber of Commerce in cooperation with the Federation of GCC Chambers under the theme “Enhancing the prospects of the GCC cooperation for better growth and integration”.
The forum, which is being held for the second time in Amman, sought to boost the Jordanian-Gulf economic development by opening new partnerships between business owners, reflecting the economies of both sides and activating the trade exchange movement.
The volume of trade between the GCC and Jordan is estimated at 4.6 billion dollars last year, of which 3.3 billion is Gulf exports.
Read more: http://www.dinarupdates.com/blog/
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BGG – Article: “CENTRAL BANK: DELETE ZEROS IN EARLY 2017″ “November 7, 2016” Quote: “The governor of the Iraqi Central Bank on the Keywords that project to delete the zeros will be implemented in early 2017, indicating that the bank began to develop the first steps of the project.” This says they have already began to develop the first steps – indicating they are into the process (in late 2016). This would imply they are further along today… and likely many of the AML, electronic banking and international banking interactions are leading up to the implementation of this project. [post 1 of 2….stay tuned]
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BGG – This is a key phrase: “…will serve the country’s economy if it will be inclusion of the Iraqi dinar in the global basket of currencies in the vital world exchanges.” This was published in early Nov, 2016. Obviously, it is easy to see why there was so much excitement over the “first part” of 2017. BECAUSE THEY SAID SO…However, there now seems to be have been more to the story… Another reason to repost and reflect on this, they have said nothing contradictory since. They are obviously not “on schedule” but they are not denying it either. [post 2 of 2]
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Kurdish MPs are trying to return to parliamentary sessions
Sessions of Parliament The head of the Kurdistan Democratic Party (KDP) parliamentary bloc, Arafat Karam, said Kurdish deputies are trying to return to parliamentary sessions.
Karam said that the presence of Kurdish deputies in Baghdad is important in defending the rights of the people of Kurdistan, adding that there are ongoing talks to reach a final position on the return of deputies.
Karam added that Kurdistan has not closed the doors of dialogue with Baghdad so far, pointing out that the Kurds are still within the political process and there is a preliminary agreement for their return to the Iraqi parliament.
Read more: http://www.dinarupdates.com/blog/
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Follow us on twitter @DinarUpdates !!
Dinar Updates – Q & A Call – BGG & Co. From Sept. 29th, 8:00 PM CST 641-715-3640 pin #528733
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Breitling (Dinar Guru) – …What’s the number 1 thing that could delay it [The RV]? It’s oil prices going up…If the price per barrel goes up then Iraq can delay the RV coming down the road…what are the windows? It changes. …I have absolute confidence in the value of the Iraqi dinar. Let’s say oil prices go up and it delays it…You have confidence? Yeah, absolutely! 100%. Nothing is going to change that. It’s the timing that might deflect it here or there but that’s not going to change it. It’s simply not going to change it….
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BGG – Article: “Barzani is isolated and lives in a psychological crisis after the referendum” Quote: “A Kurdish source said that the head of the Kurdistan region (outgoing) Massoud Barzani is currently living in a Kurdish internal crisis and international condemnation of the referendum, despite warnings and international rejection.” Though this is a pretty serious indictment on his situation, I am skeptical his “ship is sunk”. I agree in this regard though, I don’t think this was exactly the response he had hoped for “post-referendum”…
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Adam Montana (Dinar Guru) – […can GOI pass laws without the Kurds? Say like the HCL?] That’s a complex question, but the summary is this: Yes.
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IMF Staff Concludes Visit on Iraq
September 28, 2017
“End-of-Mission press releases include statements of IMF staff teams that convey preliminary findings after a visit to a country. The views expressed in this statement are those of the IMF staff and do not necessarily represent the views of the IMF’s Executive Board. This mission will not result in a Board discussion.”
The Iraqi authorities and the staff of the International Monetary Fund (IMF) held discussions in Amman from September 17 to 28, 2017 on the third review of Iraq’s 36-month Stand-By Arrangement (SBA). The IMF Executive Board approved the SBA on July 7, 2016 (See Press Release No. 16/321), and completed the second review on August 1, 2017 (See Press Release No. 17/311).
At the end of the mission, Mr. Christian Josz, Mission Chief for Iraq, issued the following statement:
“The Iraqi authorities and IMF staff started discussions on the third review of the SBA and made good progress towards reaching agreement on a draft 2018 budget in line with the SBA. These discussions will continue during the upcoming IMF and World Bank Annual Meetings from October 13–15, 2017 in Washington, DC.”
“During the visit, the team met with the Acting Governor of the Central Bank of Iraq (CBI), Dr. Ali Mohsen Ismail Al-Allaq, Acting Deputy Minister of Finance, Dr. Maher Johan, , and officials from the Prime Minister’s office, ministries of finance, oil, planning, and electricity, the State Oil Marketing Organization, the Central Statistical Organization, the Central Bank of Iraq, and the Board of Supreme Audit. The team would like to thank the Iraqi authorities for their cooperation and the open and productive discussions.”
Read more: http://www.dinarupdates.com/blog/
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Abadi on Twitter today…
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Barzani is isolated and lives in a psychological crisis after the referendum
Baghdad – Journal News – The Iraqi coalition forces rejected the “Sunni Arab component” to establish a state that is not supported by local, regional and international, except for Israel in the north of the country. The Kurdish political source said that the head of the Kurdistan region (outgoing) Massoud Barzani is living a difficult psychological situation because of Baghdad’s unexpected positions after the The referendum.
“The Sunni component strongly rejects the establishment of a Kurdish state in northern Iraq and also rejects the expropriation of land from the Nineveh Plain and other areas and forcibly annexing it to Kurdistan,” said the alliance’s deputy, Nasr al-Jubouri.
Jubouri ruled out “a military solution to end the crisis of the Barzani referendum and cannot end the crises by a military solution.”…
Read more: http://www.dinarupdates.com/blog/
BGG ~ Though this is a pretty serious indictment on his situation, I am skeptical his “ship is sunk”. I agree in this regard though, I don’t think this was exactly the response he had hoped for “post-referendum”…
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tman23 (Dinar Guru) – [Is there something “magical” contemplated by your date of October 8th or thereabouts?] Yes…very much so…but as to if it involves us being involved is unknown and only I hope...so I remain optimistic with what was heard regarding certain things…but of course I am applying those things into my novel of possibilities…which I try and not embellish upon and keep nuetral …but certain pieces fit exactly…
BGG ~ Great. Another “Date”…
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BGG – I…remain bullish, in spite of what seems to be a never-ending Gerbil wheel we are on. I feel this way because of several reasons but I have one “bottom line” reason which concerns both the CBI and Iraq.
1) The Central Bank continues to keep this financial boat trim with auctions and such but it comes at a cost. This cost is reducing their reserves.
A) Each day as Iraq spends to rebuild and spends to cover debt it gets worse.
B) I feel there is drop dead “time-frame” for this country. It might be weeks or months. There is no way to know. Further, there is a point at which they will face daily – the choice of bankruptcy or getting off the program rate.
C) Trying to make their play dough work is sapping reserves.
As such, I remain bullish…
BGG ~ This was not my personal commentary as was inaccurately attributed to me (surprise, surprise…)
It was from one of our esteemed researchers and I felt it appropriate to share (with his permission, of course).
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Sully ~ Good Morning. I wanted to say I too, remain bullish, in spite of what seems to be a never-ending Gerbil wheel we are on. I feel this way because of several reasons but I have one “bottom line” reason which concerns both the CBI and Iraq.
1) The Central Bank continues to keep this financial boat trim with auctions and such but it comes at a cost. This cost is reducing their reserves.
A) Each day as Iraq spends to rebuild and spends to cover debt it gets worse.
B) I feel there is drop dead “time-frame” for this country. It might be weeks or months. There is no way to know. Further, there is a point at which they will face daily – the choice of bankruptcy or getting off the program rate.
C) Trying to make their play dough work is sapping reserves.
As such, I remain bullish and thank you all for reading this and putting the incredible time into DU.
Tom S.
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Kurds threaten demonstrations against Barzani to back down from the referendum
Journal of the movement of activists in social networking sites on Friday, reports of the existence of an acute crisis and unprecedented in food and fuel in Kurdistan, because of the decisions of the federal government to close the border posts in response to the referendum held by the President of the Kurdistan region (outgoing) Massoud Barzani, despite the domestic and international rejection .
They stressed that “the provinces of Erbil and Dohuk more affected among the other provinces and became the markets of the provinces completely empty of food, which prompted the people to threaten to leave demonstrations condemning the cancellation of the referendum.”
The Patriotic Union of Kurdistan (PUK) said Friday that “the siege imposed on the Kurdish people is more damaging than the ruling leadership.”…
Read more: http://www.dinarupdates.com/blog/
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G-Lin (Dinar Guru) – Article quote: “A coalition of state law to collect signatures to dismiss President Fuad Masum for the leadership of the leader of the coalition for the presidency of the Republic. Maliki is currently the first deputy of Masoom.” This is exactly what Maliki has been trying to accomplish for 2 years. …since Maliki controls the Supreme court through Mahmoud, it will be interesting to see how this is dealt with. It also states in the constitution that occurrence of death or impeachment, the Pres. position goes to the first deputy which is Malik.
BGG ~ This is not the most well informed or reliable report we have heard. Ranks in the “trust-worthy” category about the same as a Taco Bell gas pain!!
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Adam Montana (Dinar Guru) – […For something that was in the strike zone nearly 7 months ago, what zone is the HCL in now?] Actually, I think this is a good thing! The referendum is meaningless – sure, they voted…All this does is put pressure on everyone to come together. As far as a “strike zone”, there have been plenty and there will continue to be more. When they decide to act on it, we win a bowl of RV soup.
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Kaperoni (Dinar Guru) –…As a result of the Kurdistan referendum, the Parliamentary Finance Committee has asked the CBI to suspend Kurdish banks from the daily currency auctions. It appears the CBI has confirmed they are in fact doing so with the documentation about. What does this mean to us? It means that the decision to do this is counter productive to the goals set forth by the recent IMF Stand by Agreement and efforts from the UST and IMF to help Iraq meet the conditions to move to Article VIII. …the sole remaining obstacle was to demonstrate the CBI could manage the dinar within Iraq and maintain a spread between the Official Rate and the Market Rate (street rate) of 2% or less…the IMF requires this to he held for 90 days before compliance would be met. The goal is 1200 to $1 or about.The decision now to prevent the Kurdistan region has had an effect on this spread as reported today it is now 1275 to $1 in the region. [post 1 of 2….stay tuned]
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Kaperoni (Dinar Guru) – If Iraq is going to bring investment into Iraq, they need to meet compliance, and move to Article VIII so the dinar is more recognized globally. Freedom of movement of capital in and out of Iraq is a requirement for investors to participate in the rebuilding of Iraq. The economy will stall if the CBI cannot find a way to meet compliance and take the next step for the banking system. It clearly will have an effect on not only the economy, the banking system, monetary policy, employment and the citizens. There is nothing we can do except watch how this plays out with the hope a resolution comes sooner than later so the CBI can get back to what it needs to do. I am not abandoning the dinar, this is not a “sky is falling” prediction, this is a factual explanation to the events of the Kurdish referendum that will need to be addressed by the IMF and the CBI. It will cause delays..which may be a few weeks or several months or longer. Time will tell. [post 2 of 2]
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Baghdad gives Erbil three days to hand over control of airports
BAGHDAD, Iraq – The Iraqi Council of Ministers has decided to bring the Kurdistan Region’s airports under the authority of the central government, giving Erbil three days to hand them over to Baghdad.
Iraqi Prime Minister Haider al-Abadi announced the decision in his weekly news conference after the meeting of the Council of Ministers. If Erbil does not comply within the three days, Baghdad will close the airports, he asserted…
Read more: http://www.dinarupdates.com/blog/
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BGG – Let me be perfectly clear…I am not saying, nor have I said, they will enact some version of currency reform this year – as in: 2017. They may – they may not… it would be very difficult to know this. Nor am I saying this HAS TO go into 2018. Nowhere has any official source said this. Nor have there been ANY DIRECT indications of this. NONE. In fact, there have been NUMEROUS indications DAILY they are moving closer and closer to a full re-engagement with the world markets and economies. Just today there is news of direct negotiations between Iraq and the Saudis to share an export pipeline again. Article quote: “Iraq asks Saudi Arabia to reinstate the oil export agreement through the joint pipeline”… [Post 1 of 2]
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BGG – This daily flow of news speaks directly to the economic and market progress Iraq is making… by LEAPS AND BOUNDS. This re-engagement, with the support of the IMF, UN and WB is critical. Iraq can price their currency and whatever they want. If no one will buy it, what does it matter? Who cares if there were a $14 RV – if no one will buy your currency? This re-engagement and international acceptance is a HUGE step towards economic, investment and currency reform in Iraq. I have plainly said they are CLOSE. Period. End of story. [post 2 of 2]
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Adam Montana (Dinar Guru) – [Not real sure about the numbers, but I think I’ve seen that the Kurd province produces 12 percent of all Iraqi oil and represent 17 percent of the Iraqi population. Wouldn’t be better for Iraq (and us) if the Kurds cecede?] If the Kurdish region went Independent, Baghdad (Iraq) would lose their northern border with friendly Turkey and gain a new border with less agreeable tenants (the KRG)… so no, I don’t think that is something they want. They also have to address Article140, which neither side wants to cave on. And even if it is “just 12%” of their production/revenue… That is a pretty significant number. So overall, I don’t think Baghdad will want to let this happen. Would it be better for us? I don’t think it would further the HCL agenda, it might even hurt it. The Kurds would create their own new currency, and we’d still have IQD with less chance of an RV. So in my opinion, nope. Not good for us if they secede.
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The Central Bank prevents four Kurdish banks from entering the currency auction
An official source in the Iraqi banking sector, on Thursday, that the central bank decided to prevent the entry of four Kurdish banks from entering the currency auction.
The source said that “the Central Bank has decided to stop the banks of Arbil and the commercial region, and Jihan and Kurdistan from entering the auction of currency within the financial sanctions on the Kurdistan region.”
The source added that “the Central Bank stopped the system of remittances with the Kurdistan region,” noting that “these sanctions are part of the sanctions carried out by the government.”…
Read more: http://www.dinarupdates.com/blog/
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BGG ~ Let me be perfectly clear…
I am not saying, nor have I said, they will enact some version of currency reform this year – as in: 2017. They may – they may not… it would be very difficult to know this.
Nor am I saying this HAS TO go into 2018. Nowhere has any official source said this. Nor have there been ANY DIRECT indications of this. NONE.
In fact, there have been NUMEROUS indications DAILY they are moving closer and closer to a full re-engagement with the world markets and economies.
Just today there is news of direct negotiations between Iraq and the Saudis to share an export pipeline again.
…”Iraq asks Saudi Arabia to reinstate the oil export agreement through the joint pipeline”… (see article above)
This daily flow of news speaks directly to the economic and market progress Iraq is making… by LEAPS AND BOUNDS.
This re-engagement, with the support of the IMF, UN and WB is critical. Iraq can price their currency and whatever they want. If no one will buy it, what does it matter?? Who cares if there were a $14 RV – if no one will buy your currency??
This re-engagement and international acceptance is a HUGE step towards economic, investment and currency reform in Iraq.
I have plainly said they are CLOSE. Period. End of story.
Read more: http://www.dinarupdates.com/blog/
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What’s next after Kurdish independence vote?
ERBIL — Defying pressure from the United States and regional powers Turkey and Iran, millions of Kurds cast their ballots today in a historic referendum on long-fought Kurdish independence.
Massoud Barzani, president of Iraqi Kurdistan, who is leading the independence drive, exuded confidence after voting at a polling station close to the presidential compound overlooking Erbil, where the Kurdistan Regional Government (KRG) sits. As election observers looked on, his eldest son, Masrour, chancellor of the Kurdistan Region Security Council, was up next, dipping his index finger in the indelible indigo ink meant to prevent repeat balloting…
Read more: http://www.dinarupdates.com/blog/
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Kaperoni (Dinar Guru) – [Currently dinar is a dead currency it’s not expected anywhere, maybe in Iraq but that doesn’t help the investors.] That is not true. It is the currency of Iraq and is used throughout Iraq everyday. It’s value will not RV…but rise via…a float to combat inflationary pressure created by investment through the CBI ‘s Capital Account. That is how it works…The dinar will appreciate in value, just not yet.
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Baghdad gives Erbil three days to hand over control of airports
BAGHDAD, Iraq – The Iraqi Council of Ministers has decided to bring the Kurdistan Region’s airports under the authority of the central government, giving Erbil three days to hand them over to Baghdad.
Iraqi Prime Minister Haider al-Abadi announced the decision in his weekly news conference after the meeting of the Council of Ministers. If Erbil does not comply within the three days, Baghdad will close the airports, he asserted…
Read more: http://www.dinarupdates.com/blog/
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BGG – Article: “Barzani: The time has come to demand the postponement of the referendum will not take my people” Quote: “The president of the Kurdistan region, Massoud Barzani, said the claims and calls to postpone the referendum on independence “is over.” The title is a little deceiving. However, it also points out Barzani clearly intends to “negotiate” with Baghdad afterwards. The whole thing has the feel of a “squeeze play”. Barzani may well know he has no chance of a true independence play. On the other hand, while this is an “extra-Constitutional” vote, Abadi and the GOI ignore their Constitution when it suits them as well.
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BGG – This is – best case, a leverage play by Barzani. There is significant unrest in most of the surrounding regions over this situation. Turkey doesn’t like it. Iran doesn’t like it. Iraq doesn’t like it. The IMF doesn’t like it. The UN doesn’t like it. The US doesn’t like it. Explain to me again the “excitement”? It’s not good. However, it may not be anything more than a short-term distraction to currency reform in Iraq.
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Saudi – Iraqi steps to promote banking cooperation
The concerned circles rely heavily on the development of economic, financial and banking relations between Saudi Arabia and Iraq because of their positive reflection on relations with the Gulf countries in general. It also serves the Iraqi economy and its active sectors in the field of investment and finance, as well as the positive impact that these relations can have on the performance of Iraqi banks for the best. Taking advantage of the expertise enjoyed by Gulf financial and banking institutions.
The meeting in Baghdad recently between the President of the Association of Iraqi Private Banks Wadih al-Hanal and the Deputy Governor of the Saudi Arabian Monetary Agency Fahd bin Ibrahim al-Shathri, a qualitative start of cooperation between the concerned institutions in the two brotherly countries, would constitute a gateway to a course of action To promote opportunities for partnership between different economic sectors, especially banking.
Al-Hantal discussed with al-Shathri in their meeting in Baghdad recently the issues of cooperation between Iraqi government and private banks and their counterparts in Saudi Arabia, especially in the areas of compliance requirements and credit risks. The two sides agreed to hold a meeting in New York on October 16 on the sidelines of the Arab Banks Union conference to continue their research on the prospects of banking cooperation between the two countries.
Read more: http://www.dinarupdates.com/showthread.php?54426-Saudi-%96-Iraqi-steps-to-promote-banking-cooperation
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Aggiedad77 (Dinar Guru) – …may I point to a few things… good things IMO…in fact very good…has anyone been keeping a scorecard on FM Jaafari and who he had “side” meetings with in NYC…those are of the utmost importance IMO…IMO it is those types of meetings where so much can be and often is accomplished…Jaafari as a former Prime Minister of Iraq knows how to be a mover and shaker… IMO Abadi chose this man very wisely to take his place in NYC at the UNGA (United Nations General Assembly) meetings …he knew Jaafari’s experience would be helpful…no he’s not Abadi but he still can speak with authority…he had serious meetings with many serious players… And what always seems to happen after a significant entourage comes to the US and then returns to Iraq…MAJOR things seem to magically happen, almost as if a favored hand helps them to move mountains… [post 1 of 2….stay tuned]
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Aggiedad77 (Dinar Guru) – No we didn’t exactly hear what we thought we wanted from Abadi today…or did we…that question remains to be clarified IMO… A wise student though should be keeping a sharp eye on where Abadi is…who he is talking to…and what he is saying…IMO all three are vitally important…both today and even out to the next 24 to 48 hours again IMO… Am I excited…yes I am…I’m looking forward to Iraq making a big move…when…soon… what kind of move… well just watch closely for Abadi…he’s the key to their success at the moment I believe… And I want to believe that FM Jaafari has garnered some good support from the UN and a whole pocket full of member countries as well… IMO…the BEST is coming… we are so close… [post 2 of 2]
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Stratfor Strategies: Sit. rep.
Negotiations are underway between the Iraqi government and the Kurdistan Regional Government (KRG) over the planned Kurdistan independence referendum, scheduled for Sept. 25. Numerous international powers oppose the referendum — including the United States, the United Kingdom, Turkey, Iran, Germany and other EU powers — and pressure is mounting on KRG President Massoud Barzani to delay the referendum. Meanwhile, Barzani is trying to turn popular approval among Iraqi Kurds for the referendum into a mandate that will improve his bargaining position. But the rallying support — and opposition — is bringing a political charge that’s already spilled over into violence and could do so again…
Read More: http://www.dinarupdates.com/showthread.php?54398-Stratfor-Strategies-Sit-rep&p=179246#post179246
BGG ~ IMHO, they may have a “vote” on this yet… long-run?? Barzani is KIDDING himself. If he manages to split from Iraq in the near future, Turkey will have him for a light snack (This is highly likely the impetus for the Barzani’s buying U.S. residences).
Erodgan has been spoiling to deal with his Turkish Kurdish. He sees no difference in his southern uprising and Barzani. They are all the same to him.
Further, both Turkey and Iran have designs on Kirkuk as well as the Kurds and the GOI. To further complicate matters, the GOI has clearly not been paying their bills to the Kurds. It has to be a pretty big slap in the face where the Peshmerga hasn’t been paid since 2013 and these THUG SHIA Militias got salaries codified in the recent budget. On the other side of the argument – the Kurds have been (reportedly) selling oil outside the agreed upon channels.
Think about it… if the Kurds haven’t been contributing to the GOI for as long as is represented, if the GOI haven’t been paying the Kurds since 2013…
What does this vote matter?? They have the same “defacto agreement” going right now? Correct? How or why would it matter to the currency of Iraq?
Doubters?? Here is a Stratfor headline from TODAY!!
Sep 23, 2017 | Turkey: Parliament OKs Military Intervention, Warns Iraqi Kurds On Vote
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Kaperoni (Dinar Guru) – Article: “The unemployment rate exceeds the red lines .. graduates and largest victims” Quote: “…unemployment has become a chronic disease in Iraq , what engenders other consequences in the forefront of poverty , which exceeds the proportion of the” “30% of the Iraqi people who are below the poverty line…” They better activate the market economy (tourism, manufacturing, agriculture, etc.)…or else all hell is going to brake lose.
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Aggiedad77 (Dinar Guru) – Article: “Oil calls for the removal of the oil sector from political conflicts” Quote: “The Oil Ministry confirmed on Saturday that oil is a sovereign wealth and a property of the Iraqi people in all its sectors, including the Kurdistan region…” This appears to spell HCL IMO…oh BUDDY…OH BUDDY…
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From our Sept 1st Facebook Live. “Verify Your Dinar”. We re-recorded this – I hope this works better for everyone.
For a limited time – I am personally handling the sale of some privately held Dinar. It is from a premium source and is in excellent condition (Uncirculated 25k notes).
If you would like to add to your Dinar holdings while it is still possible, send me a PM via FaceBook (in the Private Group) or send an e-mail to DinarUpdates@comcast.net . I will make the arrangements.
Thanks
BGG
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The World Bank is asking the Iraqi government to provide jobs to restore confidence with citizens
The re-establishment of trust between the Iraqi state and its citizens is highly dependent on the government’s ability to provide security, jobs and economic growth for all Iraqis, especially the poor and vulnerable, and millions of internally displaced people for them.
In a press release, the World Bank Group concluded a series of consultations with various stakeholder groups on the new strategic partnership framework for Iraq for the period 2018-2022, which sets out the key development goals the Bank Group aims to help Iraq achieve. And a program of strategic interventions for this purpose. ”
The consultations, which began on 16 September, included several meetings with government officials, members of the Council of Representatives, representatives of the private sector, civil society organizations, academia and international partners. “The consultations showed a high level of interest and participation by the Iraqi public at large on issues related to the future of Iraq , The challenges faced by the country and the opportunities for development are at stake. ”
Read more: http://www.dinarupdates.com/blog/
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G-Lin (Dinar Guru) – Article: “The World Bank is asking the Iraqi government to provide jobs to restore confidence with citizens” …art. last week from IMF was very emphatic with their instructions. Increase your value and eliminate MCP. I think they are waiting for the security issue they have talked about for 2 years now. And they are very close to accomplishing their fight against ISIS. That may be it. If the Parl. manages to vote that 2nd amendment for CBI through, it could be a timing issue after that. They don’t tell us everything. If the debt to Jordan and to Kuwait has been addressed, that would lift them entire from Chap. 7 I believe. The banks have been and continue to be brought up to International standards. Money laundering and corruption are being addressed. Some new currency would go a long way in that corruption fight. Let Abadi take the credit for winning the war and if he gives the peeps some purchasing power, his spot for P.M. next year would seem solid IMO. We are getting there…One thing is for sure, with all of Iraq’s wealth, this increase in value will happen…JMO.
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Kaperoni (Dinar Guru) – Article: “Talabani’s son announced acceptance of the US proposal to postpone the referendum” Quote: “The leader of the Patriotic Union of Kurdistan Jalal Talabani, Pavel Talabani, announced on Saturday that the Patriotic Union and the Kurdistan Democratic Party decided to accept the American and international proposal to postpone the referendum.” …just because the PUK and Talabani agrees, does not mean Barzani will. In fact, outstate voting has already begun. We will see on Monday what happens inside Iraq.
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Economic Report: The global economy is continuing with the momentum of investment
The OECD said the global economy is continuing to be driven by investment, labor and trade support, but monetary and structural support for wages should be balanced.
In its quarterly report released on Thursday, Trend News reported that the world will achieve economic growth of about 3.5 percent this year, in conjunction with the growth in industrial production, the continued rise in global trade and the rise in growth in technology spending.
The OECD changed its forecast for global growth in 2018 to 3.7%, up 0.1%.
While the Organization raised its growth forecast for the euro zone to 2.1% in 2017, up 0.3% and 1.9% next year, up 0.1%.
Read more: http://www.dinarupdates.com/blog/
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Militiaman (Dinar Guru)- Article: “Kuwait ‘s economy allocates most of its word in New York about Iraq…” Quote: “The Prime Minister Sheikh Jaber Al-Mubarak Al-Hamad Al-Sabah said his country plans to host an international conference next year for donors to support Iraq, in cooperation and coordination with Baghdad and the international community” “This would contribute to strengthening the efforts of national reconciliation among the various components of the Iraqi people and would restore security and stability and preserve the unity, independence and sovereignty of Iraq and create conditions for the start of reconstruction and reconstruction efforts. To their areas.” The National Reconciliation may be at their finger tips, within hours and not months or weeks now. A full liberation may just do the trick! It has been said yesterday if I read that right, as in 48 hours.. Time has flown by since..
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Enorrste (Dinar Guru) – Article: “Private Banks Association organizes a workshop on safety requirements for financial systems conversion” Quote: “This workshop comes at a very important time is determinedly Iraqi banks open up to the regional and international banks and boost confidence between them to reflect positively on the banking sector.” It seems to me that this movement that we are seeing on several different fronts at this time is being driven quietly from the IMF in the background. They stated last year that it was their intention to bring Iraq into the world market in the first half of 2017. They did not make that goal, obviously, but we continue to see progress (at the Iraqi rate, unfortunately) toward that goal. This symposium/training is clearly geared, as KAP [Guru Kaperoni] has rightly stated, to something that is “on the horizon” rather than down the road a way. I would not be surprised to see Iraq move into Article 8 late this year and start the float either at that time or at the beginning of next year. Saleh seemed to indicate some time ago that changes like these must take place at the beginning of a year. [reference Guru Kaperoni post 9-21-2017]
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Abadi announces the launch of the first phase of the liberation of Hawija
The Prime Minister, Commander-in-Chief of the Armed Forces Haider Abadi, on Thursday, the start of the first phase of the liberation of Hawija district south of Kirkuk, praising the performance of the armed forces, which are fighting more than one liberation battle at the same time.
“With the dawn of a new Iraqi day, we announce the start of the first phase of the liberation of Hawija, in fulfillment of our pledge to our people to liberate all of Iraq’s territory and to purge it of gangs,” Abadi said in a statement. Victorious edits “.
Abadi added, “Greetings to our heroine forces in all its forms and formations and they are fighting more than one liberation battle at the same time and winning victory after victory.” He pointed out that “Bushra new victory looms in the sight with God’s help and reliance on him and his ability and heroism and sacrifices of spare fighters.”
Read more: http://www.dinarupdates.com/blog/
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Adam Montana (Dinar Guru) – […assuming the CBI elects to “Float” the Dinar from it’s current value and removing zero’s maybe one at a time…do you see this process taking up to a year…to have a value close to 1 to 1 with the us dollar? …how long from the time they start the “Float” until (you believe) they start removing the large denomination bills (those bills larger than 100 IQD).] yes, the float process could certainly take up to a year, maybe more or less. I believe we’ll be looking at a hybrid situation between peg/float – a likely scenario is this: First, revalue to around 10 cents per USD. (It is almost certain to remain pegged to the USD at this time, regardless of how they revalue.) That rate could be “fixed” for a period of 3 months, up to 6 months, while the larger denominations are collected and removed. This is the “Pegged” period. Next… [post 1 of 2….stay tuned]
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Hakim-Iraq-s-unity-is-a-red-line-that-can-not-be-bypassed
Participated in the Iraqi – UAE Trade Forum Minister of Industry and Minerals Mohammed Shiaa al-Sudani said that the Iraqi government and people appreciate all the supporting positions in the fight against terrorism.
“The Iraqi government and people appreciate the positions of our brothers in supporting the fight against terrorism and affirms pride in his relations with his brothers and neighbors,” al-Sudani said during a speech at the Iraqi-UAE Trade and Investment Forum, which opened yesterday in the United Arab Emirates. Today is open to all and extends the hand of friendship and cooperation for the prosperity and well-being of its people and all the peoples of the region, “pointing out that” the economic relations of Iraq – the UAE is witnessing remarkable development, reflecting the capabilities and opportunities enjoyed by the countries, “stressing at the same time,” the Iraqi government’s keenness on Yeh and the development of these relations and upgrade them to the highest levels in all areas and sectors. ”
Read more: http://www.dinarupdates.com/blog/
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Adam Montana (Dinar Guru) – It’s been a while getting here, and nobody knows where exactly “here” is quite yet, but what I DO know is we have a LOT going on right now! There is an upcoming referendum in just a few days where the KRG (Kurdistan Regional Government) is attempting to “vote” on “Independence”. While the “vote” isn’t something I’m personally putting a lot of weight on, the statements and actions surrounding and connected to it are certainly worth paying attention to. Abadi had previously spoken out against the referendum (scheduled for Sept 25th), but now the Supreme Court (Iraq) has actually issued a ruling ordering them to completely suspend any preparations for such a vote, based on it being “unconstitutional”. [post 1 of 2….stay tuned]
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IMF calls for the restructuring of the rational and Rafidain Bank
The International Monetary Fund (IMF) on Monday called on the Iraqi authorities to restructure the Rasheed and Rafidain banks and strengthen the legal framework of the central bank, calling for the cancellation of the remaining entry on the dinar exchange rate.
The Iraqi Business Council said in a press statement received by “The Economist News” that “the head of the mission of the International Monetary Fund in Iraq, Christian Joss, discussed in the Jordanian capital Amman with the delegation of members of the Iraqi Business Council the latest developments in the Convention on credit readiness with Iraq and the challenges facing the Iraqi private sector” .
“The IMF urged the Iraqi authorities to take further measures to strengthen oversight and implement plans to restructure state-owned banks that control the banking system, including the Rashid and Rafidain banks, strengthen the legal framework of the Central Bank, and eliminate the remaining restriction on the exchange rate and the practice of multiple exchange rates , And the implementation of measures to combat money laundering and the financing of terrorism and fight corruption.
Read more: http://www.dinarupdates.com/blog/
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G-Lin (Dinar Guru) – I’m…excited about the…art. stating the IMF gave them instructions to cancel the remaining restriction on the exchange rate and practice multiple exchange rates, And the implementation of measures to combat money laundering and the financing of terrorism and fight corruption. To me this is saying remove that last restriction and give the dinar a true rate and that would eliminate MCP and by doing so it will fight terrorism and corruption. It also says to me that they are Art. 8 compliant and they need to de-dollarize…this has been requested by the IMF in every Art. !V consultation I have read and now it sounds like a direct order. We don’t have any idea when this will happen but Iraq started listening to the IMF this year and in order to get the loans from them and the World Bank, they must perform to their instructions. Add to all of the above the fact that the second amendment to the CBI Law was discussed in Parl. last week it makes for some pretty exciting speculation. If they aren’t ready to change the value, they are making preparations to do so. As usual this is just my opinion.
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Reveal the files that Abadi will discuss in New York and the date of his visit
MP of the coalition of state law Jassim Mohammed Jaafar, said Monday that the Prime Minister Haider Abadi will discuss four files during his visit to New York, while pointed out that the date of his departure will be tomorrow or the day after tomorrow.
Jaafar said that “there are four main files will be addressed by the Prime Minister in his address to the General Assembly of the United Nations,” noting that “the first file is the role of Iraq in the elimination of the raucous and review the achievements of our armed forces and experience and the results of the experiment, This experience is for countries that are under a threatening threat, victories relying on Iraqi rather than foreign forces. ”
Read more: http://www.dinarupdates.com/blog
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Enorrste (Dinar Guru) Article: “Economic reforms and upgrading banking institutions” I agree with KAP [reference Guru Kaperoni, 9-18-2017] on this one. We wait. But at least they are now seriously discussing moving forward as opposed to two years ago when half of the economists were calling on Iraq to wait, wait, wait.
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Kaperoni (Dinar -Guru) – Article: “Economic reforms and upgrading banking institutions” I think the goal is to raise the value to 1 to $1 or about. It just won’t happen overnight as some want to think. It’s a process that will take a period of time (I believe 6 months to a year) via a float. In doing so, the zeros disappear and Iraq moves to denominations like a 1, 5, 10, 20, 100 dinar and some fils (coins). Keep in mind, if we are correct, and that is the plan, then they simply just cannot decide arbitrarily to raise the value, they need momentum. And that is created by investment. They need the laws passed, banking insurance to invite investors to bring capital into Iraq. The result creates inflationary pressure on the CBI to float the dinar. And the result should allow the dinar to appreciate in value. So we wait.
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From our Sept 1st Facebook Live. “Verify Your Dinar”. We re-recorded this – I hope this works better for everyone.
For a limited time – I am personally handling the sale of some privately held Dinar. It is from a premium source and is in excellent condition
(Uncirculated 25k notes).
If you would like to add to your Dinar holdings while it is still possible, send me a PM via FaceBook (in the Private Group) or send an e-mail to DinarUpdates@comcast.net . I will make the arrangements.
Thanks
BGG
P.S. This is for a friend with significant holdings needing to “save the ranch”.
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Kaperoni (Dinar Guru) – Article: “Association of private banks and the International Monetary Fund discuss the challenges facing Iraq’s economy” I like this. To have the head of the private banking association going to the World Bank to say…hey, we need to step up the reforms is a good thing. After all, the WB, IMF are pushing this forward.
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MilitiaMan (Dinar Guru) – Article: “Abadi threatens: ready to intervene “militarily” if the referendum of Kurdistan to chaos” I have to agree with you on the events are unfolding for Barzani, and it sure appears he is pushing the tide. In the end the tide still rises to the level it will and that will be marked in the sand. The PTBs spoke in support of Abadi and not the Kurds. They will need to take the HCL and 140 as is now, imo.. Abadi has the arrow that will sign and seal this by going live imo.. Something the world is waiting on! The cat is out of the bag!
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mike (Dinar Guru) – Article: “The government issued new measures to support and stimulate investment” We still need legislation passed in Parliament: “The Commission will continue to analyze and examine the obstacles facing the investment process in order to remove them, and have the power to instruct the National Investment Authority to grant investment license if meet the requirements and legal requirements for the projects before the Committee” I hope I’m wrong, but I don’t believe Abadi can make decisions outside the law and constitution, otherwise the opposition will accuse him of overstepping. Besides, how legally binding is an executive order that contradicts the law of the land? It’s still too risky for potential investors. Pass the laws.
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Aggiedad77 (Dinar Guru) – Article: “The Association of Private Banks and the International Monetary Fund are discussing the challenges facing Iraq’s economy” …continued discussions regarding Iraq’s economy…the IMF is so very interested in Iraq…but even more than that…IMO they are very interested in seeing Iraq succeed…The IMF IMO knows that bigger things are in store for Iraq and how they will be impacting the world in which we live…they are encouraged by Iraq’s drive to put emphasis on more than just oil…they need other avenues and they are doing their best to lift up these other industries for the world to utilize...And these bankers are not sitting idly in their offices and letting time go by, they are making the necessary efforts to get their people trained…trained to work more effectively in an international market place…watch for it…the BEST is coming…IMO…soon.
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MilitiaMan (Dinar Guru) – Article: “For economic reforms and upgrading of banking institutions” Very good article and one point of many it is they used a gold component to the dinar valuation…in the past and it shows on the CBI website they will again too, imo. They had a value of $3.20 then and talk now of $1.20. Either way it is a good thing.. imo.
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MilitiaMan (Dinar Guru) – Article: “$200 million to support stability in liberated areas” Quotes: “The World Bank has allocated $ 200 million to implement the emergency project to support the stability of the liberated areas…” “…the project will be launched at the end of September…” End of September, interesting timing. I’ll bet there are strings attached, as in raise the rate on the IQD first. Imo.
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Central Bank to Tackle Hoarding of Iraqi Dinars
The Central Bank of Iraq (CBI) has held symposium entitled “Analysis of the phenomenon of Hoarding in Iraq“, addressing the problem of people hoarding Iraqi dinars (IQD), and not making them available to the banking system
During the seminar, the Governor of the Central Bank, Dr. Ali Mohsen Ismail (pictured), pointed out that cash is not available as planned, and that the CBI is drawing up plans to solve this problem and attract money into the banking system…
Read More: http://www.dinarupdates.com/blog/
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Kaperoni (Dinar Guru) – Article: “Three-quarters of the money supply outside banks and the central circle .. calls for investing” I hate to say it, but this is another article that speaks as if they do not know what they should do. As we have said over and over, they need to get parliament to do its part…passed the laws, strengthen the CBI and get deposit insurance in place. Doing so will invite foreign investment, create a revenue stream outside of oil and help them turn the economy around. Iraq tends to do nothing, then complain about it. It’s got to be frustrating for Ali al-Allaq, he has been waiting for his revised CBI Law and parliament keeps kicking it down the road.
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MilitiaMan (Dinar Guru) – Article: “Controller and Auditor” Quote: “External auditors have contracted with internationally recognized and reputable companies such as Ernst & Young, KPMG and PLC, internationally recognized and recognized international audit and account management companies, financial statements and budgets.” This to me is telling us they are fully ready to do what is expected of the CBI with international standards. They have contracted with some very big names that are respected globally and that tells me they are not going to be at a program rate in the proximal future…imo.
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Aggiedad77 (Dinar Guru) – Articles: “Abadi close: Barzani will announce the postponement of the referendum after American threats” “Parliament of the region will postpone the referendum with an American advice” Whatever it takes IMO…don’t mess with the plans at this stage of the game…wait until you see what will be coming to you…then if you want to upset the apple cart…more power to ya’…IMO…Abadi…say the right words, use the right speech…show the Kurds what is behind Door #2 for them…or would they simply rather have the parting gifts.
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Stratfor Strategies current Kurdish Analysis
After several weeks of meetings, the major Kurdish parties — the Kurdistan Democratic Party (KDP), the Patriotic Union of Kurdistan (PUK) and the Gorran Movement — have made a breakthrough in negotiations. The meeting Sept. 12 was the first trilateral intra-Kurdish political meeting in two years, and the groups seem to be in the final stages of agreement on several key points that make up the seven-point agreement they are negotiating. Even though the Iraqi Kurdish parties seem to have finally hashed out a partial agreement, there are many more negotiations ahead. And it remains to be seen whether this breakthrough will be enough to overcome opposition to the Kurdistan independence referendum…
Read More: http://www.dinarupdates.com/blog/
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Adam Montana (Dinar Guru) – [What would a independent Kurdistan mean to our hopes and dreams to retire via nice RV? Do you still believe they will never separate?] I still don’t think they will split… But I LOVE how this current situation and the events unfolding right now are pushing things in a very positive direction. Things are looking very good for us right now!
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Adam Montana (Dinar Guru) – Speaking of being completely unified, here’s something that is certainly going to influence Iraq to put the brakes on a Kurdish separation… they would lose the entire border of Turkey, a country that has been a great ally to Iraq recently, and they would have an entirely new “neighbor to the north” (the Kurds)… Does anyone really think that sounds appealing to Abadi or anyone else? I don’t think so! So it is in their best interest, at this time, right now, to get moving on the HCL, increase the value, and everyone will completely forget about the splitting of Kurdistan and Iraq for a while! With THAT said, we still have the upcoming referendum, and it’s certainly a good reason for Parliament to kick their HCL in the butt! If it’s going to happen, I will not be surprised to see this thing launch right before the upcoming event, so perhaps the 21st is our day. [post 2 of 2]
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Source: Parliament of the region will postpone the referendum with American advice
Baghdad – A source familiar with the Kurdistan Regional Parliament, will vote to postpone the referendum of the Kurdistan on 25 September to another notice.
The source told the agency of all Iraq [where] that “the parliament of the region will hold its meeting tomorrow after a break of more than two years of political differences, and will vote to postpone the referendum,” noting that “this step came as a US advice as a way out of the crisis.” The source preferred to “boycott the two blocs of change and the Islamic Group reserved to the referendum for the session.”…
Read more: http://www.dinarupdates.com/blog
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Adam Montana (Dinar Guru) – we still have a date for a Kurdish referendum later this month, so the question of the day is… what, if anything, do we know is being done by those in Baghdad who may not want to see a Kurdish secession? Iraq in general is not in favor of it, lawsuits have been filed (presumably on the grounds that the upcoming referendum is unconstitutional or a variety of other reasons), and there are signs of certain Kurdish leaders willing to negotiate with Baghdad…in my opinion, that simple fact right there is reason to think they aren’t really serious about the split. Sure, they may SAY they are, and posture accordingly, but the leaders of the secession movement and the PTB are simply not in sync. Nothing as major as a complete separation can possibly happen unless the Kurdish are representatives completely unified. [post 1 of 2….stay tuned]
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Aggiedad77 (Dinar Guru) – Article: “Abadi: Our achievements are great in the field of security and economy” IMO we can all understand the leaps and bounds that Iraq has made since 2014 with their security…look what they just whipped and kicked out of their country… Do you also fully realize the full circle they have come with economic issues…they are poised for the world in so many ways…this MR has flowed so wonderfully…it is getting closer to us, can you feel the heat of the lava flow…feel the presence in this month like never before… IMO the meetings and the speeches of this month are paramount in importance…so is the time upon us…you think…it sure seems like it doesn’t it…it does IMO…the BEST is coming.
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Rafidain announces the application of electronic banking system instead of paper
Baghdad – Journal News Rafidain Bank announced on Wednesday the close application of electronic banking system instead of dealing paper in the completion of transactions of citizens.
The Information Office of the bank in a statement received by the «Journal News», customers to review branches in Baghdad and the provinces for the purpose of updating their data and complete the necessary documents related to them in preparation for the application of the comprehensive banking system.
The statement pointed out that “the bank has reached stages and advanced steps in the application of the electronic system.”
He added that “this system allows the citizen to benefit from the facilities provided by the bank through the completion of operations and simplification of procedures as well as clean the archive and bank inventory.”
Read more: http://www.dinarupdates.com/blog
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Chattels (Dinar Guru) – Article: “Peshmerga ready for Hawija, unsure of coordination with Hashd” Quote: “The province is a diverse home to Kurds, Arabs, Turkmen, and Christians. As one of the Kurdistani or disputed areas, it is claimed by both Baghdad and Erbil.” Less than two weeks until the Kurdish referendum and the daily rhetoric for and against it is increasingly bitter. Abadi(‘s)…position is that the Kurds cannot secede without the consent of the rest of Iraq.
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MilitiaMan (Dinar Guru) – Article: “Masoum and Abadi to New York soon to attend the UN General Assembly” Truly a sign of the times… Both are going to New York, and we see Abadi has already met with Kubic of the UN. He was in full support of Abadi and what he has accomplished. Keep in mind they have parliament in session if I read that right going over the electronic ration cards as we speak and the national oil company. Do we all see the picture being painted…
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Aggiedad77 (Dinar Guru) – Article: “The Government approves the tasks and mechanism of the Higher Committee for Investment and Reconstruction” On the surface this little article seems to be nothing big…but look who approved the tasks…the CABINET…Abadi’s Cabinet…on a Monday…out of the ordinary they would meet today…they normally meet on Tuesdays… Then look at who all was there, most of the Cabinet and ALLAK…why would this kind of high powered Iraqi group need to meet for what a committee was doing…hmmmmmm…is your interest perked up yet…they are considering the LL (long line) IMO…and IMO…they seem to be getting obstacles out of the way…What for…getting ready for implementation of things…investments …companies and countries coming in…this is HUGE IMO…simply HUGE…it’s pointing us towards good things to come…IMO.
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The government is finalizing the 2018 budget. Parliament is expected to arrive next month
Special – Mawazine News The deputy of the Committee on Economy and Investment parliamentary Najiba Najib, on Thursday, the government to finalize the draft budget in 2018, while expected the arrival of the bill to parliament next month.
The parliament approved last year most of the articles of the financial budget for 2017, which included the deduction of salaries of employees and the imposition of taxes on the travel sector and refused to grant employees leave for five years.
“Najib told Mawazin News that the central government is in the process of finalizing the draft bill of the budget of 2018, before sending it to the House of Representatives to vote it expected at the same time the arrival of the draft budget next month to parliament
There are expectations in parliament that the government will work to reduce the financial budget for matters related to (military operations) considering that Iraq is close to ending all operations against elements of the organization calling for the terrorist.
Read more: http://www.dinarupdates.com/blog
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Kaperoni (Dinar Guru) – “The CBI has also requested the technical assistance of the IMF Legal and Monetary and Capital Markets Department to analyze the reasons behind the rise of the exchange rate spread” …in the last Article IV dated last month, the CBI had requested the UST and the IMF to help them get in compliance…that gives me hope they can get in compliance… and once they do, they will accept Article VIII, which will open the banking system to the world, allowing international investment, etc. So if that occurs, we may see such an effect by end of year. I do believe it is well documented that the world wants to come to Iraq and invest. If, Iraq could ever set the stage, by that meaning pass the laws, get the banking system in order, they have the potential for billions of dollars in private investment. So hang in there.
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Adam Montana (Dinar Guru) – …we do have some encouraging tidbits. OPEC – there are already talks of extending the current agreement, which Iraq is in a great spot to take advantage of. Most of the news you will see and hear is glossing over the very important fact that Iraq has an exemption in this deal. This is a big deal for them, and the more the media ignores it, the more I like it! Kurdish Independence – the date for the Referendum, however meaningless it may turn out to be, is still September 24. This gives us a mere 18 days between now and then to potentially see some big news on several fronts. We are standing by for news to pop, probably out of nowhere, unexpectedly, and possibly groundbreaking. I’m sure you’ve heard the phrase “the calm before the storm”…and I’m not talking about Irma! [post 1 of 2….stay tuned]
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Breitling (Dinar Guru) …It’s very simple for them to start adding value to it [dinar] especially with what they’ve already done. Again and again and again I get emails from people asking, “What do they need to do?” Iraq doesn’t need to do anything. They’ve gotten their currency down to where you and I can exchange for up to .54 or 55 cents. Where are they going to come out? I don’t know. Can they pull more dinar off the market? Sure they can. I haven’t seen any reports on what they’re doing. There really hasn’t been anything out there…there hasn’t been for a while. I know what they’ve already done. And I know what you and I can exchange at. And I know they’re primed to do it. And I know what the market is and it’s a long trend. That’s what they have been waiting for.
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Iraq gets the certificate GMP international
Razi Centre for research and production of medical diagnostic number of industrial research and development body, a Ministry of industry and minerals, Thursday, on receiving a certificate of good manufacturing practice GMP Of a company (Vexil Business Process Services) And for the first time in Iraq .
The Commission said Abdul Ghani Jafar told the Emeritus has gone through the media, that the “certification of Razi was the result of efforts and commitment to global standards for application of the quality system and in particular specifications GMP And which entailed obtaining good manufacturing practice certificate, adding that the center holds a quality certificate ISO 9001 : 2008 ) ) Of the pixel company “.
Read more: http://www.dinarupdates.com/blog
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Iraqi-Kuwaiti agreement on joint exploitation of oil wells
“New” newspaper, Wednesday, Iraq and Kuwait agreement on joint exploitation of oil fields between the two countries, after agreement with global consulting Office, to prepare a study with a mechanism to develop common fields.
According to the paper, according to a Government document obtained by Iraq, and Kuwait signed a memorandum of understanding on joint exploitation of oil fields “, stating that” the scope of the MOU include the development and optimization of the fields on both sides of the international border between the two countries, namely in ritqa in North State of Kuwait, Rumaila and Safwan fields in southern Iraq.
She said “the two countries have conducted negotiations on the sharing of border oil fields for more than seven years, but oil experts considered that this file was a lot of technical, security and political complexities, what makes it difficult to implement, since things have been stuck since that date.
Read more: http://www.dinarupdates.com/blog
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Iraq ‘s economy depends on a new mechanism to distribute the salaries
The project is expected to be completed by the end of the current year, the project of automation of salaries or what is known as electronic settlement through the use of smart card, as all the employees of Iraq, about 4.5 million, representing 10 percent of the population of smart cardholders, and receive salaries from banks Via this card with different uses.
The Iraqi Council of Ministers requested that the Ministry of Planning and Development Cooperation coordinate with the Ministry of Finance and the Central Bank of Iraq to issue a unified job number for the employees of the government departments, for adoption mainly in government databases.
The Council of Ministers also granted the employee the freedom to choose a bank approved by the Central Bank in the process of settling salaries to open a bank account in preparation for receipt of his salary through the account electronically under a bank card.
The project is an important step that will contribute to a qualitative change in the life of Iraqis with the presence of so many employees.
Read more: http://www.dinarupdates.com/blog
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UN: Iraqis deserve to live in peace, dignity, prosperity
The Special Representative of the United Nations Secretary-General (SRSG) for Iraq, Jan Kubis, extended on Friday his warmest wishes to Muslims across Iraq for a peaceful and joyous Eid al-Adha.
“As we wish you peace and prosperity on this blessed occasion, our thoughts and prayers go to all the martyrs and fighters of all liberating forces, to all those that provided support, to all civilians affected by the conflict, notably to the millions of displaced who are celebrating the Eid in IDP camps,” he stated.
The liberation of Mosul should not conceal the fact that the road ahead remains challenging. The Eid once again arrives as Iraq continues to be pounded by cowardly terrorist bombings, resulting in innocent victims. Iraqi forces, which triumphed in Tal Afar today, are continuing the fight to liberate other areas of Daesh terrorists, the SRSG said.
“But hopeful days lie ahead for Iraq”, Kubis stressed, urging Iraqis to take all feasible steps to build on the military victories against the terrorists and ensure a future for their families free of conflict.
Read more: http://www.dinarupdates.com/blog/
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MilitiaMan (Dinar Guru) – Article: “Iraq ‘s economy depends on a new mechanism to distribute the salaries of 4.5 million employees” Quote: “The Council of Ministers also granted the employee the freedom to choose a bank approved by the Central Bank in the process of settling salaries to open a bank account in preparation for receipt of his salary through the account electronically under a bank card.” If the above article is not confirmation of what we have learned to date…I don’t know what is! This should have everyone speechless…The pieces of the puzzle are unfolding under cover of a Holiday, imo.. Tell me things are not solid as a “Glory Day Dinar”! They make deposits and will need access to Dinars when they need them even when branches are closed. imo…
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Breitling (Dinar Guru) – I’ve gotten a lot of emails about one of my favorite articles that came out last month. “Currency war talks restarts after Jackson Hole Wyoming and the language and the posture of the leading central bankers over the weekend shows that tensions over exchange rates are starting to heat up again.” …Currency wars are the tip of the spear when it comes to economic warfare. That’s the number one weapon we have…there’s an investment opportunity during the currency wars…how does this currency war effect Iraq? …This actually helps us…Iraq has a huge huge card in this game and that’s their currency. It’s always been like that from day 1. That’s their way out. That’s their way to regenerate their economy. They are very happy about it. They know what’s coming down the road…So what’s Iraq going to do? They’ve kept their currency at a 10th of a penny for a reason… [Post 1 of 3: Stay tuned for the rest of the story]
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Iraq announces preliminary crude export statistics for August
The Ministry of Oil announced on Saturday the rate of exports and revenues achieved for last month, according to preliminary statistics issued by the Iraqi oil marketing company “Sumo”, where the amount of exports of crude oil more than (99) million and (700) and (761) barrels , With revenues of more than (4) billion and (608) million dollars.
The spokesman for the Ministry of Oil Assem Jihad said in a statement that the total quantities exported crude oil last month of oil fields in central and southern Iraq amounted to more than (99) million and (700) thousand and (761) barrels, while the statistical exports of Kirkuk fields.
He pointed out that the daily rate of exports amounted to (3) million and (216) thousand barrels. Jihad said the average price per barrel amounted to (46,223) dollars.
Read more: http://www.dinarupdates.com/blog/
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Enorrste (Dinar Guru) – Article: “Central Bank of Iraq: reap the success of monetary policies .. ” This article …clearly refers to moving to a floating dinar rather than to an RV. Oh, it also makes it clear that the IMF is behind all of this maneuvering. I agree with KAP [Guru Kaperoni…reference post 8-28-2017]: can’t expect much in terms of incoming investment until the IMF has completed its work to get Iraq positioned to move from Article XIV to VIII.
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Kaperoni (Dinar Guru) – Article: “Economic attacks the central bank warns of the imminent collapse of the currency” Quote: “The Iraqi Central Bank to conduct the recent lifting of Iraq ‘s reserves data from the dollar on the website of the bank, evidence of the lack of transparency among its employees with public opinion.” I think he is saying since the CBI has not updated the statistics on the CBI website, they are hiding something. He references the reserves not being at the level presented and at least equal to the dinar in circulation. To be honest, it is hard to find anything on the new website.
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International tribute to the government’s reform measures
The governor of the Central Bank of Iraq and the Bank of the International Monetary Fund praised the procedures reform in the monetary and fiscal policy conducted by the government and central alike, noting that more than 250 companies from different nationalities competed to buy the international treasury launched by Iraq Majara.oukal.
Keywords in bonds dialogue with the «morning»: the «general budget for the current year law included the issuance of international bonds worth US $ two billion as part of the deficit in the budget of the year 2017», noting that «the first billion was issued a guarantee from the US government, which helped to reduce the amount of interest to the limits of 2 percent and Iraq need this kind of guarantee that bonds the second meal worth one billion also issue an interest rate higher than the first, at that when the pool Alvaidtan interest is acceptable and does not constitute weight to the public treasury of the state. »
Read more: http://www.dinarupdates.com/blog
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Political and parliamentary welcome to the openness of neighboring countries to Iraq
Baghdad / Muhannad Abdul Wahab The regional calls expressed in recent days by regional and global neighbors have been greeted by a wider political welcome with more political and economic openness with Iraq.
He called on politicians and members of the House of Representatives to support the government in the implementation of its program to open up to all countries of the region and the world to strengthen the status of Iraq’s economic and international, stressing that the reopening of the Trebil crossing gives an important message to defeat the “da’ash” terrorist, stressing the importance of this openness, which will save millions of jobs For Iraqi youth. It is noteworthy that Prime Minister Haider Abadi recently received the Minister of Foreign Affairs and Affairs of Jordanians Ayman Safadi, Abadi stressed Iraq’s keenness to develop cooperation with the Kingdom in various fields, praising the close cooperation in the face of various challenges, for his part Safadi said, Iraqis in the war on terror, which is a common enemy must unite all efforts to defeat. ”
Read more: http://www.dinarupdates.com/blog
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Methodology of financial reform
Thamer Hymes *We are encouraged by the serious and sincere proposals for the development of our economy that two well-known Iraqi women have demonstrated experience, loyalty and academic weight. They are developing successful visions to cope with the unusual conditions and published by Al-Sabah.
Dr. The appearance of Mohammed Saleh proposals can be implemented through his vision of the potential and the circumstances surrounding; it puts its touches on the financial reform of the years (2018 2020) in the light of financial conditions and ways to address and the strengthening of non-oil resources.
Professor Adnan al-Janabi, one of the engineers and founders of the National Oil Company and the veteran parliamentarian, turned the equation to distribute the oil resources to the people under Article 111 of the Constitution by adopting a tax system for the state to carry out its duties.
Read more: http://www.dinarupdates.com/blog
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DU Conference Call repost
Sorry about getting this posted late. Our normal banner provider is in the middle of server/software maintenance. This is the only posting of this call replay (no banner).
For a limited time – I am personally handling the sale of some privately held Dinar. It is from a premium source and is in excellent condition (Uncirculated 25k notes).
If you would like to add to your Dinar holdings while it is still possible, send me a PM via FaceBook (in the Private Group) or send an e-mail to DinarUpdates@comcast.net . I will make the arrangements.
Thanks
BGG
P.S. This is for a friend with significant holdings needing to “save the ranch”.
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We are Stabilizing IQD Exchange Rate without a space for Speculation: CBI Governor
On Sunday, the Governor of Iraqi Central Bank issued a statement that main objective of CBI is to stabilize the balance between the sale of U.S dollar and demand in the domestic markets. He also added that the sustainability shouldn’t be considered an edge of speculation and huge profits. The Governor of CBI delivered his words in a press interview with Alsumaria News and indicated that the Bank is looking to maintain a balance between the sales of U.S dollar and to keep it stable. He pointed out that the balance of foreign currency has become strong in the past couple of years and there isn’t any kind of space for speculation and huge profits. He added that Iraq has been experiencing some exceptional circumstances and a significant amount of decline in the global oil prices was considered one of the major reasons behind the economic and financial crisis in the country.
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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Kurdistan Parliament: From today the post of president of the Kurdistan region is vacant
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