Dinarland Highlights – 10.17.22
“The Central Bank of Iraq participates in the annual meetings of the International Monetary Fund and the World Bank“
…They are readying to get this country into an international environment for trade. The likes of the World Bank, International Monetary Fund, US Treasury, American Chamber of Commerce, etc… of late are all about moving forward and apparently finalizing necessary formalities…All items are looking to be in place now or at least well underway…A good thing…imo
Iraq needs a government, a parliament that passes economic laws that encourage foreign investment. Only then with the success and growth of Iraq’s economy will the central bank allow the dinar to gradually rise over time.
“Parliamentary Investment: Iraq has a financial abundance of more than 86 billion dollars“
“Iraq has a financial abundance of more than 86 billion dollars and does not need aid, and thus Iraq’s economic strength has become very large, as Iraq, for the first time since the establishment of the Iraqi state until now, has financial abundance that neighboring countries do not possess,“
Yes I see they’re talking about a rate change happening. No I don’t think it’s going to be $18. No I don’t even think it’s gonna be $3. The first step most likely is going to be the reinstatement of the 1190 dinars and after that depending on the impact it has on the Iraqi people and the economy you can probably start seeing small jumps here and there over time…
I know everybody wants some big huge increases [in the dinar rate]…you saw that Iraq was doing everything it needed to do to protect its Iraqi dinar. Their foreign reserves are at all-time high. The money they’re generating from oil has seriously put them in a great position. And they’ve increased their gold reserves. All these steps are huge in protecting the value of your currency…the last thing you want to do is raise the rate up so high that your goods are too expensive to sell internationally and you can’t compete…
Iraq is giving us all the news we need to let us know we are in a 2 week window. We are already into that 2 week window… This is important… They are giving us their timeline. The Sudani cabinet will be completed in less than 2 weeks. After months and months of stalemate- Iraq is finally making progress. We pray its sooner that 2 weeks…my bond people think it is.
It’s been very quiet today…My bond folks…are being told this is absolutely, undoubtedly, hands down their week and they will be at home…100% liquidity of their funds… This is important. I have gotten this from a couple different bond sources now. They are being told this is not the wolf. (boy who cried wolf) that this is it…I will keep you posted as the week develops…as to what this means for us – timing wise.
“Are there going to be private banks in the Untied States?“
I said…the CBI has private banks all over the world. “Will I be able to go into one of those private banks here in the United States and cash my Iraqi dinars and leave them as Iraqi dinars? That’s a good question but you’re cheating. Banks that come in to do business in the United States have to follow the banking laws of the international world. No it won’t work that way…
“The Central Bank of Iraq obtains an international certificate in cash management“
AGAIN THE INTERNATIONAL COMMUNITY AND THE CBI ARE ONE IN THEIR GOALS.
Nader From The Mid East
…The Iraqi dinar…it’s not ready to change…when the CBI is ready they come out and they say okay let’s change it and that’s it…When they feel like the economy is strong, the private sector is strong, they’re making more money than they’re making now, they change. You cannot change the rate if you don’t change your currency…So we wait when they’re gonna change the currency to smaller currency for it to go through…they talked about it a couple of months ago and then they didn’t say anything else. So we’ll see…
“Iraq tops the list of Arab countries with economic growth for 2022“
“Iraq is heading towards achieving the highest economic growth rate among the Arab countries for the year 2022 by 9.3%, half a percentage point higher than April’s expectations, taking advantage of the rise in oil prices.“
Iraqi Dinar Revaluation and Global Currency Reset News | Dinar Chronicles
Courtesy of Dinar Guru
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