Dinarland Highlights – 2.22.22
Pressure is increasing in Iraq to get this done. I hope by the end of the week.
“Vietnam new Asian tiger: Business Times“
“Once among the poorest countries in the world, its economy is now booming and the World Bank describes it as one of the most dynamic and emerging countries in the entire East Asia region, Business Times said in an article published last week, calling Việt Nam a “new Asian tiger.”
There are still restrictions on the currency…Iraqi dinar. Remember they just finished paying off Kuwait… They officially announced it. We have not heard any more chatter about chapter VII and we know they’re still on the blacklist in the EU. They’re working really hard to accommodate the European Union so they can get removed…That blacklist prevents the European Union from working with Iraqs banks because they’re accusing the banks in Iraq of funding terrorism and laundering money…there’s still a couple hurdles that Iraq has not got passed yet before they can make any major changes to the rate…
[I think the GOI is holding up the RV. Sadly]
Don’t panic… Remember we saw exactly this happen before they RV’d Kuwait years ago. There is a lot of political in-fighting. We are hearing anywhere from just hours away –to maybe a few more weeks. …there was always going to be smoke at the end…We heard some of the same things before Kuwait was announced. The same morning they released RV they had announced that they had no intention of doing it yet…then they did it. So don’t be like “Chicken Little“ today. 2-22-22 Is a day full of great expectations…Hopefully we will see something before it is over.
I had lots of conversations with folks in Iraq. Things are definitely moving forward…many of my Iraqi contacts are now looking at very early in the month of March. After long conversations with them today…I am agreeing with them. Yes they are out of Chapter 7 today…many stories in their main stream news…but it will take a bit to finish dotting I’s and crossing t’s…finish seating of the government. But we were told this is the final step before they release the new value. Early March is only a week away.
“The decision to reduce the dollar exchange rate in the local markets is exclusively in the hands of the Central Bank of Iraq, according to the law, and no one may act on it without a decision from the bank.”
IMO the laws are in place now…The bank has the ability to change the rate when ready. There is a government in place today, is there not? Just as there was when they devalued. imo
[Iraq boots-on-the-ground TV report]
FIREFLY: We got the CBI but it’s not Mustafa and they’re telling us that there’s not going to be any changes to the exchange rate. This pattern is really bothering us…the reason why they’re not going to is because they have to do an extensive study. They’re saying that there’s too many negative things that could happen with a change in our exchange rate…
FRANK: This is nothing but a bunch of bull kaka…
Fresh Start for Iraq…Today the fact that Iraq is officially out of Chapter 7 has been verified with UN acknowledgement. This can only mean one thing, everything is settled with the World Court…This also means that Iraq will begin selling its Governments Bonds for serious infrastructure and humanitarian purposes on the world stage, with new ratings and attractive rates… Congratulations for a very hopeful future for the Iraqi People!
The central bank governor made it clear this weekend they are in charge of monetary policy and the dinar exchange rate, not politicians or political blocs…What is so amazing is how Iraq in so many ways tries to take shortcuts. And in this case, many just want to raise the value of the dinar. It doesn’t work that way! Id [If?] all these political figures want the dinar value to increase, they should work together to create and pass laws to encourage investment, encourage diversification and local production. Then, when they succeed the CBI will have no choice but to raise the value as a result.
We…witnessed in this news period that the House of Representatives set a date for a meeting with the Minister of Finance and the Governor of the Central Bank in order to discuss the dollar exchange rate. Yes, exchange rate…It’s all now about the exchange rate…the Minister of Finance did not show for the scheduled meeting. His meeting was rescheduled for a later date this week.
“Iraq’s Supreme Court Rules Against KRG oil Independence”
The FSC (Federal Supreme Court) surprised everyone last week by giving 4 major verdicts on long-standing legal disputes between Baghdad and Erbil…ruled that Kurdistan regional government’s independent oil sector is unconstitutional...
Iraqi Dinar Revaluation and Global Currency Reset News | Dinar Chronicles
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