Dinarland Highlights for July 18, 2022

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Dinarland Highlights – 7.18.22

butterfly

Article:
Iraq is moving to prepare special documents for joining the WTO

Quote:
the importance of Iraq’s accession to the organization, as it deserves to be part of the international trade, industrial and economic community, especially since its accession will be part of this international community and can organize its economic and commercial policies, including trade exchange in accordance with international laws that serve it with all concerned parties dealing with it in the future.”

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Nader From The Mid East

I got the great news for you guys this morning.  I received the call around 3 o’clock this morning from my dad.  He sent me this news but it’s in Arabic…the good news is it’s happening.  How much?  I don’t know yet.  You should know this week how much.  They said they’re putting it back.  I hope not 1200…I think it’s going to happen this week.  You’ll see the news later on coming out saying one guy of the CBI calling all the investors to come back to Iraq and invest in Iraq because good news they’re gonna put back the dinar...

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Tivon (KTFA)

Article:
The government is discussing the dollar exchange rate and plans to convert 4 ministries to self-financing”

They will by default increase oil revenues once they return the price of the USD.  Especially the French oil deal with “Total, who had signed off on a 40% cut of that revenue with the four projects in development.  1:1 will definitely move numbers for everyone involved in Iraq’s private sector. We are entering the final phase. You can tell they have been sitting on this information and couldn’t wait to share.

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Kaperoni

…A very good article came out tonight by an advisor to the prime minister. He says there is economic vision to restoring the exchange rate of the dinar. Not by decision, but by real economic reforms, increasing investments in the country.  This article confirms what I have been saying…It’s always good the hear from officials in Iraq. Having the exchange rate rise based on real reforms and non-oil revenues is how monetary policy should work..  It goes against the idea also of a currency exchange LOP.

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MarkZ

[via PDK]

I agree with him [Guru Nader] …things are really heating up! …When you see Nader excited…I believe there is something to be excited about. [reference Guru Nader’s post below]  Last week I was hearing to look at mid week this week. This is exactly what is expected. The rumors are they are hoping for a new rate Wednesday or possibly Saturday in Iraq in the Gazette. (remember its all rumors until we have money in our pockets)

I had an interesting conversation with an Iraqi source this afternoon. They said that they are using local currency options in order to pull as much dinar off the streets as possible. Their foreign reserves have a lot of US dollars in them…They also have other currencies from around the region in their foreign currency reserves…so instead of using dinar in their currency auctions they are using those and letting people turn in their dinar for them…people are getting a better than normal exchange rate for them.

This is their attempt to pull in as much dinar as possible before that RV trigger is pulled.  When will that trigger be pulled I don’t know- but there are a lot of rumors for Wednesday. A fair number of rumors for Saturday… Lots of rumors for very, very soon…  None of us are going to know the exact day and time.

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Samson (KTFA)

Article:
300 thousand barrels per day .. Iraq is the fourth largest oil exporter to America

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Pimpy

They need to form a government.  Right now there’s a lot of infighting happening.  Any hopes of the Coordinated Framework being able to form any possible government have to include al-Kazemi as prime minister and not allow Maliki in any part of it. Because if they do and I can promise you this if there’s a huge uprising this is going to last months.  It’s going to affect the economy.  It’s going to effect the security of the country.  There’s going to be a lot of problems.  All this is going to do is delay any possibilities of increasing the rate of the Iraqi dinar…

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MilitiaMan (KTFA)

When there is a need to nullify contracts, fixing contracts, adjusting daily wages and supporting the ration cards. It suggests that they have a change coming, or they wouldn’t need to nullify or adjust anything…the likelihood that there is big changes coming on many fronts is quite clear.. imo

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Frank26 (KTFA)

Article:
Al-Kazemi’s advisor : Iraq will open 3 files at the Saudi summit

OF THE 3 THE FIRST ONE WAS PRIORITY FOR THE GOI AND KAZEMI…THE EXCHANGE RATE OF THEIR CURRENCY…

Iraqi Dinar Revaluation and Global Currency Reset News | Dinar Chronicles

Courtesy of Dinar Guru

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