Dinarland Highlights – 9.25.23
“Iraq to reopen embassy in Vietnam”
This is good news and showing their ties. Vietnam and Iraq are both major trading partners and of course we expect both currencies to revalue at the same time...Reopening embassies is important… If Iraq is going to be international player…they are going to need an “International Currency”…
There are a number of articles and comments that we are to expect some kind of announcement out of Iraq on Tuesday…on how they plan to handle the exchange rate. Perhaps this means they are still fighting the rate in the parallel market…or perhaps it is our full blown revaluation. But we are expecting some kind of announcement on the value of the Iraqi dinar to the US dollar.
“Iraqi Central Bank to restrict internal trades to Dinar”
From Bloomberg…. They are de-dollarizing. Payments in dinar only …they cannot do that and handle trades without the dinar having a more meaningful value and is international…also they are expected to formally announce this on October 4th. There is a lot happening on Oct 4th. To me this means they need a new value by October 4th. I am hearing they really do expect that dinar rate change by Oct. 4th.
“Al-Sudani listens to a comprehensive presentation on the steps for implementing the unified treasury account”
“Prime Minister Muhammad Shia Al-Sudani confirmed today, Sunday (September 24, 2023), during a special meeting to follow up on the implementation of the unified treasury account and electronic payment that these steps are among the most important financial, banking and economic reform measures in Iraq.”
A follow up “on the implementation”…The Unifird Treasury Account is the account where all the money is stored and the electronic payment is the tool they are using their banking. Stuffs taking place folks...
Al-Sudani wraps up his visit with the United Nations General Assembly…He was supposed to meet with Biden but my understand is that they did not meet but he did speak with a couple of his staff members. I’m sure by now he must have some kind of idea how this [Thursday’s] vote’s gonna go…on whether or not they reverse the authorization of military use over there in Baghdad.I’m wondering if there was any kind of stipulations or agreements that were made one way or the other butnext week we’re going to find out.
The reverse of the Authorization for Military use that can actually be done by next week. I’m looking forward to that because I’m curious to see how that’s going to work out, how that affects the sanctions that are against the currency of Iraq. Because if we can get those reversed that’s going to be a major step for Iraq and Iraqi dinar…
After the past week we’re seeing a lot of things happening fairly quick over there in Iraq…You guys want to know if I’m excited about what’s going on? Of course I am. Is it good news? Of course it is. But what do I always say? Stay grounded because when it comes to Iraq they have a habit of doing a lot of great things and doing something that screws it all up. But this time around I’m more optimistic than I am pessimistic.
Al-Sudani came home from the United States of America. He showcased his presentation. He did it very very well, professionally, turns out people felt he was a statesman all around the world. When it comes down to it are you going to do a tripartite budget at 1310? The answer is probably 100% IMO no…
“The invitation to the organization to attend the introductory symposium on Iraq’s entry into the World Trade Organization which is being held on 4th of October”
The showcasing of them having had an international exchange rate has got to be coming because the WTO is not going to allow IMO ascension to the WTO without having a valuation of their country…
Nader From The Mid East
The HCL they start payment tomorrow and it goes all the way to 28th to 8th of October for 10 days. They’re gonna pay people.
I would like to think this “Jolly Farm’s” ride is about to come to an end soon. With all the meetings with the UST, WTO, AMF, travels back and forth between countries, contracts being signed, countries pouring in to do business, Iraq to be the leader in the middle east and so on and so forth, this cannot drag out…I’m personally looking for this soon, not months down the road, as international business, if all true, won’t stand for it.
The tender that put Kurdistan and Erbil, the last remaining banks that are outside the reform process, inline… The tender for the currency and coins has been met per request, meaning the needed currency and coins, the count and the value, for the release of the new exchange rate has been fulfilled.
You might want to go see what day of the month Kuwait reinstated the value of their currency because history is about to repeat itself between Iraq and Kuwait…they’re going to revalue on the same day of the month that Kuwait did.
Iraqi Dinar Revaluation and Global Currency Reset News | Dinar Chronicles
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