Delta – Dinar Guru   Article:   “Economist: War on Iran raises the value of the dollar in Iraq…”   Quote:  “The outbreak of war on Iran, regardless of the position of Iraq, will have an impact on the Iraqi currency to increase the value of the dollar in front of it,” said Smeisem, “indicating that” fear of the unknown will increase demand for the US dollar, which will raise its value compared to the Iraqi dinar and thus lead To a decline in the value of the dinar».”    MORE GOOD NEWS FOR US ..THEY HAVE TO ACT FASTER NOW…

Larrykn – Dinar Guru  …Iraq needs to get away from the auctions. to much corruption in it.  If Iraq could ever agree with each other and get politics out of the way, they might get something done…time will tell if their able too.

Chattels – Dinar Guru   Article:  “Foreign currency markets in Baghdad recorded a stable dollar against the dinar on Sunday, reaching 120,000 dinars on all local exchanges.” I think that it is accurate to observe that the market price on the dinar is increasingly now uniform in all Iraqi markets.

Delta – Dinar Guru   Article:  “The parliamentary economy warns of the doubling of external debt because of the benefits … Finance Committee reveals the “Zora” details of the Financial Management Law and announce a mechanism for debt repayment”   Quote:  “…committee awaiting the report of the Economic Adviser to the Minister of Finance Kamal Al-Basri to put the finishing touches on the law to be ready for legislation.”  THEY ARE WAITING FOR THE RATE…   RATE WILL COME FIRST BEFORE PASSING THE LAW…IMO.

Chattels – Dinar Guru   We are now almost one year and counting on the formation of a completed government / cabinet in Iraq.

Kaperoni – Dinar Guru    Floating the currency is not a requirement but with the influx of capital expected through Iraq’s banking system it will create inflationary pressure.  If they don’t float inflation will start to rise throughout Iraq.  Floating the currency is a tool the CBI uses to counter inflation.

MilitiaMan – Dinar Guru    This reform is not just about us, it is about effecting the lives of not only millions of people but, billions of people! imo.  Everyone knows Iraq is ready now. It is imo go time now. The King of Saudi Arabia, imo gave his blessing to have the Iraq Trade Bank be the first International Trade bank for Iraq to show case on his soil.  I highly doubt that they miss that time line. Big money doesn’t like to wait long. They would most likely also like to see stability with the Iraq Monetary reforms prior to the opening of said international branch.  I don’t believe in what I see they have any intentions of being late to the party. Alak has the keys to the AMF. Lets see what happens with the trade deal in the short term while we watch the next move.   [post 2 of 2]

MilitiaMan – Dinar Guru  Article:  “The International Monetary Fund sets out 3 structural measures to reform Iraq’s finances, including wages and electricity”   …they are not only involved now during the process but have been very active in the implementation phase we are in now.   …My view is this was ready to go yesterday, and it still is today through the opening of the Iraq Trade Bank by or around mid May.   Imo The Futures market this last Sunday and other markets reflected a move by the USA in the trade deal realm and that was a clear shot across the bow to China, imo.  Now we see the key player coming back to the table at the end of the week…   [post 1 of 2]

Mountain Goat – Dinar Guru   …this is still a MAJOR concern since Sadr gave Mahdi until June 1st to form the government. The question is does he have enough support to hold a “no confidence” vote and change out the PM?  There is no firm target date to vote on the remaining 4 ministers. We still wait for any more news

Larrykn – Dinar Guru   Article:  “In response to a request by the Anti-Corruption Council .. Baghdad today announced its readiness to provide documents reveal a major smuggling of money through the sale of currency auction”  they really need to get rid of those auctions.   […auctions appear to be the center of underworld.]  they always have been, until they get rid of them they will always have corruptions and that is why they need to revalue their currency and only have the dinar in their country.

DELTA – Dinar Guru  Article:  “The Minister of Oil: Very soon we sign the project of southern Iraq integrated”   Quote:  “Oil Minister Thamer Ghadhban said on Wednesday he expected his ministry to sign a preliminary agreement with ExxonMobil and PetroChina of China “very soon,” but gave no exact date.”   YES IT’S A DONE DEAL…CONTRACT FOR 30 YEARS WORTH 35 BILLION DOLLAR 

BGG ~ I don’t think this number is quite right – but the right numbers are easy to find (in the public domain)… it’s a WAAAAYYY bigger deal than 35 Billion (as I recall).

Mountain Goat – Dinar Guru   This means the need to reinstate it and put it on the planned “free float” just like all other currencies on the open trading platform. The IMF wants the investors to drive the rate and keep it stable. They say that Iraq is now ready and so why are they waiting? We know why they are waiting.  It is due to all the corruption in the currency auctions and the reluctant to end them, as they are today...  [post 2 of 2]

Mountain Goat – Dinar Guru   There is talk that the PM Mahdi has said he will reinstate the dinar by June 1st.   I have absolutely no evidence that he has said this. Yes, indirectly he has made reference to the economy getting better by June but this could mean lots of things. He also said the ministers would be competed by June.   …But we do know the IMF wants Iraq and the CBI to move ahead and reinstatement and “free their exchange rate”.   They have said to directly to the government and this was reported by the news media.   [post 1 of 2]

Larrykn – Dinar Guru   [i thought Mahdi has had pressure put on him before june]  I’m not sure about June but it will happen…they have a lot to do and I just don’t see June is having enough time to get it done.  I believe this will happen, otherwise I wouldn’t be here…this will happen its just a process, it will come.

Mountain Goat – Dinar Guru   Article quote: “… the UNIFICATION OF THE DOLLAR EXCHANGE RATE IS THE ONLY SOLUTION TO ELIMINATE THE AUCTION CURRENCY.”   Okay so you hear this from a minister in parliament telling us that part of the solution to the economic crisis is to get rid of the corruption associated with the currency auctions and the only way to do this is to get STOP the currency auctions. Look at how much money they told us is being stolen out of the CBI reserves due to this corruption. They say 15-20 million US dollars a day…5 billion US dollars a year being stolen from the CBI.  No wonder why the CBI can not increase it reserves faster with all this oil wealth coming in as revenue. …as long as the spigot of oil is flowing and the money is rolling in, they will not challenge this theft.  The hard part is that the oil will not be flowing forever and so this time of great wealth is the time to sow the seeds of prosperity and build their nation.

Mountain Goat – Dinar Guru  Personally, I think it’s going to be a long wait till January 2020  …All the signs are showing us this is now going to be the case. Certainly things could always change on a dime but right now no evidence of that.  I know the news from Iraq has been very quiet, but I assure you Mutada Al-Sadr and others are hard at work to turn it all around. …We do know that Mahdi has until June to complete his government for face a possible “no confidence” vote. Will this happen?

Larrykn – Dinar Guru   Article:  “The Central Bank betray Iraq daily through the auction of corrupt currency”   this is why they need to revalue and get off the Auctions… (it’s) too easy for corruption.  [Maybe this will push them to do it…]   I think there is a lot of things they need to get done before that happens which I haven’t seen them to yet…they haven’t even formed their government yet besides passing the laws needed.   [they wont do nothing much now with Ramadan going on.]  I don’t think even if they wanted to would this happen that fast for Ramadan…its just another holiday for them. We will be here way after that holiday is over…  

Mountain Goat – Dinar Guru   Next parliamentary session is scheduled for [today], Saturday. No announcements that they will vote on the remaining ministers.

Mountain Goat – Dinar Guru   …The banks DO NOT control the RV. The US Treasury DO NOT control the RV.  The initiation must come from the CBI. An indication to us that they have done so will come from the “project to delete the zeros”. This [is] now on hold again and we wait…Does the US have some impact? Yes, the US does have a say in the approval cycle once the CBI is ready. So now April is gone and we will see what May brings us. Remember April showers brings May flowers so we wait and see…lol. We know something has to break soon and so will it happen in May or will this be strung out all the way until 2020?  [post 2 of 2]

Mountain Goat – Dinar Guru   …there is NO sound or reasonable evidence that the Iraqi dinar will or can RV anytime soon. …the window of opportunity quickly closed at the end of March 2019 as it did in 2018. This happened when the government had the CBI send out the electronic payment files and paid out at the old 1180 rate both times.  The only window we now know is for January 2020. Could this change? Yes, it could but there is no sign or evidence it has or will. [post 1 of 2]

ChrisC – Dinar Guru    “Alak is not bringing a program rate to the head of the class at the AMF [Arab Monetary Fund]…”  Of all the signs, or pieces of evidence, this is the most clear and pertinent to me.   This is like saying some fat guy that has never played football is the new quarterback for Dallas.  That’s not happening.  There should be NO possible way that a CB governor that doesn’t even have an international currency could occupy such a high profile position.  It would be embarrassing.

MilitiaMan – Dinar Guru   6) IMF at least twice has addressed their exchange rate to be in line with international standards.imo  7) IMF talking about changing the currency auctions or effectively ceasing them as we know them.  8) Article from the CBI talking about a unified Arab Currency! 9) ISX to be linking with the Nsadaq. 10) Financial Inclusion was a success to date.  Those are a few thoughts that come to mind. Most all the items above have no validity while the IQD is at a program rate.  I’ll be watching the out come from Mahdi in France. Mahdi and Abadi were involved in the Paris Club. So lets see if Mahdi brings home the kittens.. lol imo.   [post 3 of 3]

MilitiaMan – Dinar Guru  3) An article from the Basra Branch of the CBI, told us that they were to facilitate exchange trade with all groups of currency. The spoke of lower denominations and small category notes, and all groups!! …IRAQ TRADE BANK to be operational, as the first international bank of Iraq, in Riyad Saudi Arabia come mid May.  4) Alak has been promoted to Vice President of current session and the President of the AMF in the next session to follow.  5) Alak was recently in Erbil at a new Bank with what looks like him giving education on currency that has different coloring, etc. They don’t need education on old notes.  [post 2 of 3]

MilitiaMan – Dinar Guru   Laundry list of thoughts of mine why we are going to the Bank so very soon, imo!  1) The Parliamentary Finance Committee is moving in the current legislative session to develop mechanisms to change the monetary policies in the country, in coordination with the Central Bank of Iraq, aimed at raising the dinar exchange rate and maintaining the stability of inflation.” ~ March 20, 2019..” “the change will raise the exchange rate of the Iraqi dinar against foreign currencies while maintaining the stability of inflation In the country“.”  2) Mahdi stated that before June he would increase purchase power for the citizens.   [post 1 of 3]

Larrykn – Dinar Guru  [Most of Iraq’s revenue is petrodollars]  …they have been paying in petro dollars all this time, they will continue to do that until they change their currency, I don’t see that happening for a while. They have a lot to get done before they can do that IMO.  I’m getting more convinced that we won’t see these this year. but you never know.

Adam Montana – Dinar Guru   Article: “Barzani meets with Mahdi re: HCL”  Things happen slowly in Iraq. We know this.  It was about 3 months ago when I posted that original link…the articles are starting to focus on the higher level agreements.  This is the fine tuning, and the polishing.  That’s what I’m seeing happening right now… and it’s all coming full circle, about 3-6 months after the last big round of “regular” news.  This just happens to fall in place perfectly, if you ask me.  I’m on the fence about Ramadan this year – it might not be as quiet as it has been in the past.  I’m hoping to find some more clues, or get some “boots on the ground” feedback over the next couple days.  [post 2 of 2]

Adam Montana – Dinar Guru   It seems we are in an interesting situation right now. I’ve been watching the news shift directions slightly…not in an opposing way, just a shift.  In the past, we’ve had some key things happen around mid-year. Major items, like Chapter 7, for example.  The “shift” in the news that I’m seeing is – and I say this with a little bit of reservation, because I’m not substituting my intuition for an actual crystal ball – it is encouraging, in a way that may be signaling another big announcement in the middle of the year.  I’m expecting a revaluation of the Iraqi Dinar to be preceded by a bit of silence…and we do have that right now. Don’t get me wrong, we have a lot of encouraging articles to read right now, but the subtle shift in tone…It’s hard to explain…  [post 1 of 2]

Larrykn – Dinar Guru   Article:  “Saairun cedes security adviser seeking central bank head post”  [Is it possible that tman23 is correct about the replacement of the CBI governor?]  He might be…this article is saying they are replacing the governor…who they pick will mean a lot to how Iraq will move forward.   I’m thinking the PM will pick someone that will move toward reforms…

Chattels – Dinar Guru  Article quotes:  “Parliament ends reading three laws…”;  “…it was decided to adjourn the meeting until Tuesday, 30/4/201”   [what happened with the voting on the ministers…?]   …I am unaware that a vote has been scheduled.   My read and take on that news was that names had been agreed upon, but there have been several of those articles without any vote.

In anticipation of economic sanctions affecting … Russia is looking to use local currencies with Iraq instead of the dollar

Iraq and Russia are seeking to use national currencies in commercial transactions instead of the US dollar.

“The use of national currencies has been discussed and placed on the agenda for future meetings,” the daily Kommiarant said in a report.

“A program launched in Russia since 2018 aims to reduce the dependence of the Russian economy on the dollar, in anticipation of any economic sanctions that may be imposed by the United States, as this will reduce the impact of sanctions on the economic system in them,” the COMESARNET said.

It is noteworthy that an Iraqi-Russian agreement stipulated the establishment of joint cooperation committees, which meet semi-annually, to achieve common economic benefits.

Read More: DinarUpdates.com/blog