Dinarland Highlights – 5.30.22
Mountain Goat
Article:
“A WISE ADMINISTRATION RAISED THE PRICE OF THE DOLLAR.. A BOLD TALK BY THE MINISTER OF FINANCE ABOUT A SURPRISE FOR THE IRAQI ECONOMY, WHICH BODES WELL“
Quote:
“…confirmed the increase in cash reserves with the Central Bank to 90 billion dollars by the end of this year,…”
Iraq says they have the security and certainly they have the financial stability. They repeatedly said they needed this for the project to delete the zeros and so where is it? Do you get my point?
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Samson (KTFA)
Article:
“Al-Rasheed Bank of Iraq outside international sanctions after 30 years“
Quote:
“Al-Rasheed Bank announced, on Sunday, May 29, 2022, the removal of its name from the list of international sanctions of the Charter of the United Nations…deleting the name of the bank from the list of international sanctions of the United Nations Charter is an advanced step…the decision will allow the bank to open its branches outside the country, Especially in important countries that are centers of international banking and related financial transactions…”
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Frank26 (KTFA)
In all honesty if Iraq doesn’t move soon the basket may move without them. Iraq is now backed by gold. It used to be backed by oil. It can be backed by anything they want. They’re that powerful financially. Yes, the ISO was very powerful, this was an IMF goal and so is raising the value of the IQD an IMF goal. The IMF is not silent about raising the value of the dinar. It’s what they are doing…
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Godlover (KTFA)
This EFSL [Emergency Food & Security Law] is not a good thing imo. I know many are expecting the EFSL to have a new rate, however, I cannot see any logic in that thinking unless the 2022 budget is passed with it, which I highly doubt.As well, the EFSL is synonymous (similar) to the 2022 budget because it has a mini budget with it…I want & need this blessing just as much as anyone else, but…if it walks like a duck, quacks like a duck, then certainly it must be a duck.
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DeepWoodz (KTFA)
Kadhimi has been silent but he usually is concerning parliament…I do agree there is a work around/smoke and mirrors in play. I suggest that the EFSLaw is the work around to the new exchange rate…the budget law and EFS law are synonymous. I believe this means the rate is in both. Whichever comes first should reveal it.
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Pimpy
Article:
“Al-Kazemi: Iraq has become one of the most important countries in the Middle East in terms of economic growth“
they could have a much stronger economy but they have to pass a budget. Well they can’t pass a budget because the Supreme Court won’t allow them to. You have to wait until the ‘caretaker’ government is out of office and a new government is established...
they can’t get money out to the needy and they got to continue working with the last year’s budget. This is Iraq, always shooting itself in the foot. They have the opportunity to really grow and thrive…but they can’t get out of their own way. I see the great potential there in Iraq. It think it’s a great investment. I haven’t changed my mind.
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MarkZ
[via PDK]
News has been pretty solid over the weekend… I am told in Iraq – they passed the Food Security Bill over the weekend is which is absolutely huge…I believe this is a shot across the bow to move forward with the white papers and the change in value. They are letting us know they are willing to dissolve the entire parliament and start over quickly because this is taking so long to get the government sat. They will do whatever it takes to move forward with economic reforms meaning delete the zeros and increase the value. I think it was great news coming out of Iraq.
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Sandy Ingram
…Excellent news from Iraq.
Article:
“Iraq currency reserves expected to exceed $90 billion by year- end, Finance Minister“
…this is excellent news.
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Kaperoni
For the most part, the IMF is in charge of Iraq’s monetary policy (at least providing significant guidance). And the IMF does not want them to redenominate. It is well documented they want them to allow the dinar to gradually appreciate as the economy grows.
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Nader From The Mid East
Community comment:
“Iraq is printing too many dinars…”
Yeah they printed too many dinars. They stopped printing…the 25,000, 10,000, 5,000, 1,000. They stopped printing them. Now they’re trying to print new money with only one or two zeros…smaller category of currency...They didn’t print it yet I’m not sure. Maybe the project is there but I don’t know if they started or not…I know they said we’re gonna do this but nothing else, they didn’t say anything else about it.
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Iraqi Dinar Revaluation and Global Currency Reset News | Dinar Chronicles
Courtesy of Dinar Guru
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