Dinarland Highlights – 4.27.22
According to the CBI contact…the WTO is hot after the Central Bank of Iraq to finally sign off for the ISO 20022 certification to be implemented… They have to acknowledge compliance and acceptance, to get started right away. If…still lagging behind by the end of the month, then starting May 1st the revaluation commences with or without them. Contractors in Iraq are presently being paid at the revalued rate of 1:1 (one Iraq dinar to one US dollar). How long will they allow this to continue?
[Please explain why the white papers are important?]
The white papers are the financial reforms in Iraq. In these is the new budget, food security, and lots of things including the new rate for the Iraqi dinar. In these papers they are creating a platform for them to have an asset backed currency with a higher value. …That is why the implementation of the white papers are important…
It is very quiet out of the middle east. Quiet out of Asia banking today...I think this is the quiet before the release. There really is so much happening on the disclosure front.
“The highest since its establishment.. Central Bank of Iraq assets (in numbers)“
“ the value of the Central Bank’s assets is the highest since its establishment, which gives reassurance to the situation and stability of the Iraqi currency during the coming period, which is expected to witness further increases in the Central Bank’s assets as a result of the rise in oil sales revenues…”
“Mazhar Muhammad Salih: The Central Bank’s balance is three times more than the government’s external debt“
VICTORY FOR THE MONETARY REFORM!
“Are all the meetings with the WB, IMF completed and are agreements in place?“
THEY ARE BUT …THE SITUATION GLOBALLY IS CHANGING DAILY. WHAT WAS SET IN PLACE WAS FOR THEM TO COME OUT ON PAR WITH USD AND BACKED BY THE USD. BUT EVENTS OVER THE LAST YEAR PLUS HAS IRAQ ALONG WITH MANY OTHER COUNTRIES RETHINKING THE USD BACKED CURRENCY. TALKS NOW WITH IRAQ AND A NUMBER OF OTHER COUNTRIES RECALCULATING THEIR EXCHANGE RATE FACTORING IN EXCHANGE RATE…BACKED BY A BASKET OF CURRENCIES OR ANOTHER FOREIGN CURRENCY WITH THE UNDERSTANDING MANY COUNTRIES ARE NOW GUN SHY OF BACKING THEIR CURRENCY ON PAR WITH THE USD.
With the dinar at 1/6 of a penny and people screaming for currency reform…how can they hold off any longer in fixing the dinar to a nominal rate to reflect the true value? Iraq needs to get off the de’ facto peg to the US dollar. It is causing issues and we now see it…What oil could reach $130 a barrel yet Iraq dinar sits at 1/6 of a penny? All the news for months about the Iraqi economy has been very good and encouraging…there is not much more to tell. I rest my case…
People ask me do I have any concerns whatsoever about the Iraqi dinar...if they can’t get their crap together let’s be honest, the rate is never going to change…but one of the thing that I am keeping an eye on that’s bothering me is the fact that Iraq is in a huge rush to launch their version of the central bank digital currency because I’m curious how that’s going to affect us who are holding on to the paper version of the Iraq dinar, the IQD. I’m digging into that. Once I get that information I will share with you…We’re going to see Iraq grow. They’re doing it by leaps and bounds. Look how far they come just since Al-Kazemi took over…
“Parliamentary Finance: Completion of 90% of the sections of the Food Security Law”
We do not want to see this law passed, at least not without the general budget…
Iraqi Dinar Revaluation and Global Currency Reset News | Dinar Chronicles
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