Dinarland Highlights – 5.21.22
“Iraq achieves a financial surplus of more than 11.4 trillion dinars in the first quarter of 2022″
More news from inside Iraq… They are…discussing oil revenues and the abundance coming from it. They also discussed the IMF audits and the need to go ahead (in the very near future) and increase the value of the Iraqi Dinar. I thought this was great news.
[Can this drag out for months, maybe years Mark?]
I don’t think it could drag out that long. Certainly not years…could it drag out another month or two…yes, possibly…but I don’t see that happening…I think…we are within days…possibly weeks of it happening.
“IMF Staff Concludes Staff Visit to Iraq“
For people who are invested into the dinar this is the type of thing that we want to see...
“real non-oil GDP rebounded by an estimated 20% and is poised to expand by around 5% this year…”
That’s exactly what we want to see – expand the non-oil GDP. Remember the budget relies way too much on oil revenue…
Quote: “oil output is projected to reach pre-pandemic levels and bring overall real GDP growth to 10%…” That number keeps going up and up! It was 6.8, then it was like 8 point something and now they’re saying 10%...if they manage to get any real GDP growth this year without a government or…budget it’s going to be pretty amazing… Quote: “current account balances are projected to post double-digit surpluses in % of GDP.” That is awesome. Surplus means they are definitely under budget…
Nader From The Mid East
“In light of the currency financial abundance, it is unlikely to resort to borrowing…Iraq has begun to feel the positive effect of changing the dollar exchange…“
He’s talking about the exchange rate. I’m very excited. We’re getting there…the CEO of the CBI. When he said something usually works. How long? I don’t know. It could be this week, next week, can be two months from now…there’s not dates there but it show us they’re working on it and I’m very excited. It’s a lot of pressure over here…we’re putting a lot of pressure on everybody so things are gonna get a little quicker and better…
…Iraq is going to add value to the currency. And guess what, They’re backing it up with the US dollar…If you believe the dinar is going to LOP, there’s no reason for you to be in this investment…
“…If Oil does continue to sky rocket, does this change anything at all for Iraq or us? It could be a quick way for Iraq to get away from the US dollar and convert their currency”
The key for Iraq to add value to their currency is economic diversity and growth…The dollar will always be dominant in Iraq . Especially with oil being the 95% of their revenue.
Iraqi Dinar Revaluation and Global Currency Reset News | Dinar Chronicles
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