KTFA: The Central Bank : There is no future plan that includes changing the exchange rate LINK
MilitiaMan: The deputy governor has stated what appears to be this same propaganda on more than one instance this month. Firstly, he is not the CBI Governor, however, mind you he does work for the bank but, he is not the Ruler.
Secondly, there is by far way to many good things going on to not change the exchange rate. For crying out loud they have every intention to bring purchase power to the citizens. They have the AYSCUDA system at the borders and have garnered 10 year historic high revenue increase from the customs fees, taxes, tariffs, etc…
The citizens know this it was headline news.
MilitiaMan cont…..The EFSL was passed by the present government for the citizens, again headline news. Also, lets not forget the CBI Governor in England offering gifts of currency to the Central Bank of England. The photos represent sovereignty.. Not a program rate..
Why in the world would the CBI give the CBE more worthless currency. They already have trillions.. lol The new ATMS have new technology to for recycling cash and at varied exchange rates for multiple currencies. They even tell us about coins as an educational bit. There is not need for coins at a program rate.
Take note the World Bank and the IMF have completed and or concluded their mission. The UST, WB, the IMF, the EU, etc., all are in the recent news for to support Iraq in the all reforms, security, economics, energy, etc..
So, with the below I believe this piece above is smoke.. Lets see what they do next.
The indicators are large that are still on track to make an exchange rate change. Kahdimi has said it himself.. imo.. Sadr too, has the citizens on the agenda. He will be out in force for a devotional this next week on Friday…
So to suggest that there will not be an exchange rate change is goes against the below.. imo ~ MM
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The Governor of the Central Bank promises to support the banks and overcome the difficulties they face LINK
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The Central Bank of Iraq’s gold reserves rise
27th June, 2022
Today, Monday, the Central Bank of Iraq announced that Iraq has advanced ten ranks in the table of the most countries in gold reserves, bringing its total possessions to (130.39) tons, ranked thirty in the world and fourth in the Arab world.
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The financial advisor to the Prime Minister, Mazhar Muhammad Salih, surprised the Iraqis about the possibility of changing and reducing the exchange rate of the dollar against the dinar.
He noted that “the first limit according to commodity prices and the market, and at that time the central bank will defend the stability of prices according to the reserve, which is the highest in its history now, and we have an encouraging surplus for the end of the year from 8 to 10 percent.” He stressed, “If prices and financial policies fail to defend the livelihood of the poor and social protection salaries, the Central Bank will intervene by raising the purchasing power of the Central Bank through its foreign reserves
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In this regard, a member of the Parliamentary Finance Committee, Nermin Maarouf, confirmed that “returning the dollar exchange rate to its previous rate is one of the prerogatives of the Central Bank and not the powers of either the federal government or the House of Representatives.” She added that “there are attempts by members of the House of Representatives and the Ministry of Finance to return the dollar exchange rate to its old level,” noting that “the actions of the two sides complement each other, but the exchange rate against currencies and changing it is exclusively the prerogative of the Central Bank.” LINK
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“The ” caretaker government ” (contextual only per SJC) has the right to dispose of the surplus of the 2021 budget, amounting to 14 billion dollars, which is supposed to be used to raise the value of the dinar and increase the balance of hard currency.” LINK
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“We are proud to be the first financial institution in Iraq to deploy the new ATM technology and look forward to providing innovative services to our customers.” LINK
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“We are proud to be the first to launch modern teller technology in Iraq, and we are constantly looking to provide the latest services to our customers. (
FOR A PROGRAM RATE???!!!-F26
Modern money changers have received great interest from the bank’s customers, and we are sure that the launch of cash deposit services in Automated teller machines (ATMs) in the near future will enable the bank to raise the level of services provided to our customers, and to deal with cash feeding with high efficiency
ATM cash deposit feature is an essential part of Diebold Nixdorff’s modern design. Habib Hanna, director of the Middle East region at Diebold Nixdorff, said, “I am very pleased to choose Kartas Islamic Bank for the new ATMs from our company. The bank can use these ATMs to provide many advanced services to its customers LINK
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Maysani issues a book documenting Iraqi stamps and coins LINK
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The Governor of the Central Bank of Iraq participates in the closing meeting of the World Bank mission https://cbi.iq/news/view/2005
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IMF Staff Concludes Staff Visit to Iraq LINK
Samson: Iraqis hold their breath, waiting for Friday al-Sadr: a new government or a change in the rules of the game
10th July, 2022
The developments of the situation in Iraq indicate that the political process is heading towards early elections and the preservation of Mustafa Al-Kazemi’s government for another year, while the parties to the “coordinating framework” that intensifies its meetings despite the differences between its ranks confirmed that the formation of the government and the end of negotiations will be announced after the Eid holiday. Al-Adha.
The Iraqi political analyst, Muhammad Ali Al-Hakim, stressed that any government born without the “Sadr movement” will be “lame,” noting that “the withdrawal of the Sadrist movement from parliament put the coordination framework in a critical situation, so the Sadrist movement cannot exit without a pre-prepared scenario.”
In statements, Al-Hakim expected that the next few days would be full of surprises, and that the next Friday prayer would be a clear message and challenge to the “coordination framework.”
On the other hand, the “coordinating framework” is expected to announce after the Eid al-Adha holiday the end of political talks to form the new government.
Deputy Zainab al-Moussawi, a member of the Coordination Framework, said that after the Eid, the end of the talks to form the new government would be announced, stressing that the names proposed to take over the prime minister’s office are important. She pointed out that “there is no scenario to go to new elections, as discussions are in full swing within the coordination framework and with some other blocs to come up with a new formula that crosses Iraq to safety.” LINK
MilitiaMan: I will bet there will be many fronts this next week that could be very surprising. Maybe even see the dissolution of parliament. EFSL gave “Necessary Powers” to Kahdimi and the White papers were said to be the corner stone if you will from the results of the World Bank and IMF mission in Iraq. The CBI knows that full well and has likely calculated it, as would Sadr too, Kahdimi, Saleh, Allawi, etc. Everyone in the need to know realm.. Knows what to expect now, surprises… lol imo~ MM
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Samson: Kurdish politician: The people have run out of patience with the high cost of living and will stage major demonstrations
10th July, 2022
A member of the Kurdistan Regional Parliament, Diyari Anwar, confirmed on Sunday that the Kurdish people have run out of patience with the bad economic conditions in the region.
Anwar said in a statement to “Al-Maalouma” that “raising the price of fuel to record rates that exceeded the reasonable limits is a challenge to the people.”
He added that “the delay in the distribution of salaries, as well as the presence of thousands of unemployed people, and the high rates of poverty, all portend major demonstrations against the poor conditions borne by the ruling parties.”
From time to time hundreds of motorists demonstrate in Sulaymaniyah to protest against the increase in fuel prices. LINK
MilitiaMan: The heat is on. More pressure… With demonstrations starting and Sadr going out next Friday in devotionals and marching.. Looks like the timing is coming to a cross road.. Sadr wants the Iraqis to get purchase power and legitimacy. imo ~ MM
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Samson: The Iraqi Stock Exchange lacks “credibility”… How does it differ from the world’s stock exchanges?
10th July, 2022
The economic expert, Nasser Al-Kinani, said today, Sunday, that the Iraqi stock market has lost its credibility among traders due to the volatility of the political situation.
Al-Kinani said, to (Baghdad Today), that “the Iraqi stock market has lost its credibility among traders due to the fluctuation of the political situation,” wondering, “if the economy has stopped, how will it be productive?” He added, “The first shareholders who bought the stock at a value of one dinar after the closure should gradually rise, but the situation in Iraq is different from what is in the countries of the world.”
Al-Kinani continued, “There are those who bought shares in the year 90’s worth fifty thousand dinars, and when the company was reviewed, it was found that the value of the share is five dinars now.”
Economists and specialists demanded to expand the work of the Iraqi Stock Exchange, and to attract additional companies to offer their shares to investors, in proportion to the size of the Iraqi economy, especially since the companies listed within the market, their number is estimated at 100, which does not fully reflect the size of the country’s economy.
And the Iraq Stock Exchange, located in the capital, Baghdad, and was established in June 2004, and operates under the supervision of the Iraqi Securities Commission, an independent body that was established along the lines of the American Securities and Exchange Commission.
Specialists believe that the Iraqi Stock Exchange – the Iraqi Stock Exchange – is not commensurate with the size of Iraq, the trade balance and the national income, stressing the importance of amending the law of the Securities and Companies Commission to expand the work of the Iraqi financial market.
In the period prior to the change of the previous regime in 2003, the current market was called the “Baghdad Stock Exchange”, which was managed by the Iraqi Ministry of Finance, but now it is a self-regulatory body, and as of 2005 the Iraqi Stock Exchange became the only stock exchange in Iraq.
When it opened in 2004, there were only 15 companies listed in the market, but now 103 Iraqi joint stock companies are listed, representing sectors; Banking, telecommunications, industry, agriculture, insurance, financial investment, tourism and hotels. LINK
MilitiaMan: Once they adjust the IQD to international standards (commensurate with size), the shares should explode!! imo.. ~ MM
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Independent Deputy: We expect Biden to intervene to solve the political crisis in Iraq LINK
MilitiaMan: Regardless of who is saying it or not. The likely outlook is for the parliament to be dissolved imo.. The Supreme Judicial Council has talked / written on the matter and the EFSL is showing that what was written is being followed.. Just as we see the HCL being talked about with respect to the Kurds.. imo Things are looking very good now.. ~ MM
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Warnings of upcoming protests… Is there a plan to expedite the formation of the government? LINK
MilitiaMan: PM Kadhimi and Al-Sadr are looking to be strongly supported for the future… All bodes well for us.. imo.. Lets look for this next week surprises… The constitution being violated by not seating the Government is why “Necessary Powers” in the EFSL 33 page document.. Keep in mind the Supreme Judicial Council has written about the topic of what a caretaker government is and is not.The SJC alos spoke of the dissolution of parliament in emergency time frames, well being outside the constition as noted above, this means Kahdimii is set for to do day to day business and if it affects the citizens needs, get it done.. imo !!! ~ MM
