Dinarland Highlights – 10.8.24
MarkZ
[via PDK]
Article:
“Sudanese consultant: Digital Transformation will enhance Iraq’s efficiency and attract foreign investments”
They are bringing in billions in international investments …These big investors would not be investing billions of dollars in some backwater country with a useless currency…. It wouldn’t be happening….
“Salaries next week: Baghdad sends 29 Billion dinars to Erbil: The latter indicates a shortage of this amount”
They are moving and salaries are being paid…months worth of salaries….
“Iraqi banks are extending working hours to complete those remittances”
Many of us believe they stalled on those salary payouts waiting for a value change. I have a contact in the Finance Ministry who believes that as well…Now they are paying them.
“Uncover the features of the 2025 budget schedules”
They are hard at work right now letting us know they are working…We are looking for a new value as they do this.
“Iraqi Government issues new decisions”
Everything in this article that they have just done is screaming REER. (Real Effective Exchange Rate) And that is what I am hearing from my folks at the Finance Ministry. They believe we are circling close to the rate change.
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Frank26 (KTFA)
[Iraq boots-on-the-ground report]
FIREFLY: Saleh on TV saying digital banking is the next stage for the digital transformation
FRANK: Yeah, give us the new exchange rate so it can move…If they weren’t about to do that why in the world would they teach you all of this information right now?
FIREFLY: Yes…it’s a good point. My bank friend even told me that all this information if for us not to miss out on the monetary reform.
A lot of people unfortunately are considering this a lop…You really think they’re going to take a pair of scissors and go click, click, click [cutting off zeros from the physical notes]? What is this…it’s got holes in it? You just cut it all up…No, if they did that it’s called a lop…So where does it come off of? A [physical note] is called a currency. You’re not going to take it off the bill…Iraq’s exchange rate is .00076981. You take the decimal point and you move it over to the right three spaces because that’s three zeros and this becomes $0.76. Got it? This is purchasing power when you change the exchange rate by lifting 3 zeros. What is the exchange rate right now in Iraq? 1320. When they change the exchange rate that will become internally for the Iraqi citizens 1.320
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MilitiaMan
Changes are coming and it’s coming fast. You should be very happy about it.
Everybody knows that Iraq…said back in September of 2023…that Iraq was going to be the savior of the international financial system, bring confidence to the financial system in the largest banks in the world…They’ve been working on this to do what they said they were going to do.
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Wolverine
[via Judy Byington]
The digital banking system in Iraq has been spreading salaries for three days. Digital banking system is working now in Iraq. The rate can change any moment from now.
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Sandy Ingram
Russia has channeled $19 billion into Iraq’s energy sector, changing the game…The investment not only aims to enhance Iraq’s economic growth but also reflects Russia’s strategic interests in the Middle East. This $19 billion investment marks a significant chapter in the long-standing relationship between the two countries, promising mutual benefits and a strengthened alliance.
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Clare (KTFA)
Article:
“Sudanese advisor: Most state employees do not know how to use computers”
Quote:
“Iraq suffers from a weakness in human resources for digital transformation…We are in the process of creating a digital academy to appoint and train millions of employees … The academy is being built by the private sector, not the state, and in cooperation with Microsoft and Apple…The Iraqi state has 5.25 million employees, most of whom do not know how to use computers.”
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Pimpy
When we’re trying to judge where the Iraqi dinar is, we’re talking about where it is right now. But wait, there’s other things out there that would benefit the Iraq dinar…People wanted to know what I was talking about…The Road and Rail Project would improve the value of the Iraqi dinar. Iraq has been focusing on improving its infrastructure, particularly in road and rail transportation as part of the broader economic development strategy…The more people are working, the more people got money, the more people that have money, the more people go out and shop, which is exactly what Iraq needs to stimulate the economy.
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Breitling
Right now I don’t have confidence in Iraq’s economy because what’s at stake, what’s going on. Even if they build a minor version of what they want to do [Development Road Project], it’s not going to be as big as what they need it to be. They needed to pick the right side [East or the West], they didn’t. The indicators that they didn’t pick the right side is that Hezbollah and Hamas were going to build their headquarters in Iraq…It doesn’t look like they’re going to be part of our markets. They’re making bad bad moves right now. For the first time. Hezbollah is a shell of what they used to be so we’ll see how things work out.
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Iraqi Dinar Revaluation and Global Currency Reset News | Dinar Chronicles
Courtesy of Dinar Guru
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