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Dinarland Highlights for October 20, 2022

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Dinarland Highlights – 10.20.22

tlm724 (Bond Lady’s Corner)

Article:
Iraq Ranks First In The Arab World… The 10 Fastest Growing Economies In The World

Iraq was the fastest growing Arab country, as the gross domestic product accelerated by 9.3%, and ranked second in the world during 2022, followed by Kuwait and Saudi Arabia in the fourth and fifth positions globally, with a growth rate of 8.7% and 7.6%, for the current year.

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Frank26 (KTFA)

Article:
Central Bank: Changing the exchange rate will destroy the economy

This is true…but misunderstood. There’s a difference between changing the exchange rate and a gradual change and that is exactly what the CBI is talking to the citizens about…they don’t say they’re going to change the exchange rate.  They’re telling the Iraqi citizens there will be a gradual change in the exchange rate

…Laws required for the monetary reform, we’re not waiting for the government to be formed to pass them…No.  We’re waiting for the new government to be formed to use all the laws that have been passed for the monetary reform…everything is in position

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Samson (KTFA)

Article:
A new currency will be introduced soon … What is the economic feasibility of it?

Quote:
Iraq intends to introduce a new currency on the market soon…the Governor of the Central Bank of Iraq, Mustafa Ghaleb Mukhif, revealed an intention to present a banknote of 20 thousand dinars, while confirming that the bank has a project on raising zeros from the currency, but it needs to issue a law, especially since Deleting zeros affects the trade balance.”

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MarkZ

[via PDK]

Lets start with Iraq “CBI discusses electronic payments in Iraq” They are still well within their window as we watch them work on things. They are continuing to move forward with economic reforms, the white papers and banking changes. Today we were supposed to have a parliament presented. I am waiting on details. My last update was they were supposed to present today and put it into effect on Monday of next week.

There is no free flow of bond dollars yet.  All the bond folks are still excited.  Redemption Center folks …as of yesterday afternoon believe this will be their extra busy work week next week. This is very exciting because they had not been given a good solid update in quite awhile.

Here is a rundown of what we are hearing out of Iraq today. They did not seat their government …that is now expected on Saturday so don’t panic. Bond people have not gotten full payment yet

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Walkingstick (KTFA)

[via Frank26]

They’re trying to squeeze Maliki into the political scene of Iraq as Prime Minister because it’s a back door to get him back into the GOI, into the finances.  Why?  Because he has never held the deputy prime minister position before…all this political BS has nothing to do with the monetary reform except for the need for a seated government…

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Pimpy

If you remember there was an article, it was expected that Iraq would lock in the rate that we have now 1450 dinars for every $1…for five years.  With this new government taking over I don’t think that’s going to happen.  I think the first step you’re going to see at the very least is a reinstatement of the 1190 dinars for every $1

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Breitling

Question:
What’s the latest out of the Central Bank of Iraq?”

The Central Bank of Iraq is pushing… legislature and banks to be Swift compliant.  That’s it.  That’s the language coming out of the CBI.  They have one goal and one goal only.  Remember at the very beginning the Ministry of Finance, the Ministry of Planning and Parliament… went to the CBI and said, ‘Can you manage and get our currency back to around the $3 range?‘  Then all 4 of those entities went to the IMF and said, ‘…Is there a path to where we can get…our currency back to $3+?‘  It has never changed.

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MilitiaMan (KTFA)

Article:
Deputy for the law: The Sudanese are facing a difficult economic test, and we will press to reduce the dollar

The collection of signatures is being applied to pressure in reducing the exchange rate of the dollar whereby increasing the value of the Iraq Dinar… Interesting again the mix the seating of the cabinet in with the exchange rate and the adoption of the oil and gas law…The needs of the citizens are front and center, as the oil revenues must be distributed equitably to all provinces. ~ All very timely and to the points

Iraqi Dinar Revaluation and Global Currency Reset News | Dinar Chronicles

Courtesy of Dinar Guru

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