Dinarland Highlights – 5.23.22
The next Parliament sessions this next week look to be packed with importance…The Oil and Gas Law is on the table…The Emergency Food and Security Law is slated for a second reading come Wednesday and in that week following for a vote… With having an agreement politically to remove the blockage and that the financial side of things are completed, as noted by the recent Mission Accomplished between the CBI and the World Bank…
The good report from the IMF, the Global Taxation agreements with 137 countries per the UST, the Iraq border automation for payments and settlements at the ports, borders customs, etc., the AYSCUDA system and the BUNA platforms all ready to go for cross border clearing of currency, thus, we can combine all that with an new exchange rate and the citizens will get what they are waiting for, the HCL. Their share of the wealth and rightfully so they should! imo… the 1/12th payments to run the country has not been implemented, thus, this next few days on the EFL and 2022 budget both being about finance are key… Lets see what they do…
“Increasing the capital of the central bank enhances its balanced monetary policy“
“The Central Bank of Iraq announced the decision of its board of directors to increase its capital to 5 trillion dinars, an increase of 40% over its previous capital of 3 trillion dinars. 2 trillion dinars”
We are waiting to hear more from Iraq. Contacts are watching all fronts…They need to revalue to get political and economic stability. Iraq has already met all the requirements for the IMF. They are also prepared and ready. They need to revalue their currency. Conversations over there believe it will still be in the month of May. So this month is still what they are pushing for.
There has been more conversations out of Iraq today on how they are needing to move forward with the revaluation of their currency. …I am looking for any moment now. I really think this is our week or two and could happen at any moment.
“About a billion dollars in bank sales in a week“
Nice. This is the auctions that they’re talking about. They could just add that much more to the reserves. The auctions – what happens is…the oil is sold in petrol dollars (United States dollars)…then the oil company takes those dollars and gives them to the banks, the banks then auction them off to other countries who pay in their own currency, then Iraq Central Bank takes money from those sales and adds it to the reserves. The stronger the reserve the more they can secure their own economic strength as well as strengthening the Iraqi dinar…
“Iraq surpasses Saudi Arabia in oil exports to America”
“U.S. Energy Information Administration ‘Iraq’s oil exports to the United States reached an average of 326,000 barrels per day last week“
This is excellent news for Iraq…
…Guru Breitling thinks that if you believe Iraq is going to LOP you should not be in this investment. That’s… smart…for the past 10 months or so the symposiums in Iraq have been educating the citizens about a currency exchange/LOP…it does not necessarily mean that is what is going to occur. In order for them to do a currency exchange, the CBI, IMF and parliament would have to approve such an event.
The IMF has already made it very clear that they want Iraq to build a private sector and diverse economy away from oil allowing the currency to gradually appreciate over time…I think there are two opinions on monetary policy in Iraq. One of which relies on the economic growth and success of Iraq. Then the other one being just an alternative status quo.
Iraqi Dinar Revaluation and Global Currency Reset News | Dinar Chronicles
Courtesy of Dinar Guru
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