Dinarland Highlights – 4.25.22
[What is the anticipated rate of the Dinar?]
I am hearing in country a rate of about $3.91. We should expect between $6-8 on a contract rate with the “Oil For Dinar“ Program…that is what I am hearing…
There is some encouraging news.
Article from Iraq:
“Analysis: Al- Kazemi government will continue its duties until new early elections in 2023.”
Don’t panic…this is the backup plan if they cant get a proper government situated…This will not affect the financial reforms…as a matter of fact “Minister of Finance: The financial situation is very good and a upcoming meeting with the IMF and the World Bank is in Baghdad”. Over the past week or so they have met in the US …and the next meetings will be in Iraq. They are talking about the implementation of their “White Papers”. We are expecting our rate change with the white papers. They even discuss their possible timing. There will be meetings in Baghdad after Eid El Fitr to discuss moving forward with the reform process in the white papers.
“Mazhur Muhammad Salih : The central banks balance is 3 times more that the governments external debt” ..for Iraq to say this is absolutely huge. And Salih also says they are ready to move forward with their white papers. They already have a budget pulled together…they just need to approve it and they are sitting on way more money than anticipated… They are clearly showing us they are prepared to go. I am being told it really is a “any minute” thing now as we wait for some kind of trigger. I have also heard to watch between the 2nd to the 7th of May.
[What is included in the white papers?]
All kinds of financial reforms . Also according to those who are close to the project…a new rate for the dinar. I am also told that in those white papers…if the gold treaty is not signed …there is a provision for the NEER (Nominal Effective Exchange rate) ($1.60) to be implemented.
“THE MINISTRY OF FINANCE CLARIFIES ABOUT RESTORING THE DOLLAR PRICE TO 120 THOUSAND IN THE 2022 BUDGET“
The CBI does not intend to reduce the exchange rate of the dinar, thus raise the value of the dinar back to the pre-December 2020 rate. Why would they even do this change back to 120 if they already know of a plan to significantly raise the rate (not the value) of the dinar and conduct the project to delete the zeros?… We know the VALUE is already in the dinar only they are suppressing the nominal rate and holding back the reinstatement until they can see a stable government.
“America warns of an obstacle impeding the development of the relationship between Baghdad and Washington“
Now the United States is warning Iraq about their current political situation…obviously you got to have an established government. Who do you deal with? Do you deal with the intern government…and try to make deals or do you wait for the new government? This is one of the reasons why we won’t see a rate change happen anytime soon…
Nader From The Mid East
In the next few weeks we keep watching. We hope things gonna happen. We’re hoping it’s gonna go 1 to 1. 1.20 to 1. But, we don’t know yet. We’re not sure because every day they say something else and something new, one day yes, one day no. They cannot set a government. They cannot set a president...we are just gonna have to wait and see what’s the game. Iraq is doing a lot…Iraq in the next 20-25 years is gonna be better than Dubai or better than Saudi or better than anybody else…
“Minister of Finance: The financial situation is very good and an upcoming meeting with the International Monetary Fund and the World Bank is in Baghdad”
The meetings in DC may have been even more relevant…imo . They talk about not needing any help with…certain projects. The CBI has done a very good job with monetary policy stability…the certain projects they need help with may be the project to delete the zeros…with a very good financial situation the time for them to return to a previous era with the exchange rate looks to be in the process…
“Once the rate is on Forex do you foresee any issues regarding the exchange at our American banks?”
No. Absolutely not.
Iraqi Dinar Revaluation and Global Currency Reset News | Dinar Chronicles
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