Clare Article: “Ministry of Finance: Iraq maintains its credit rating and foreign exchange reserves level” Quote: “…the latest report issued by Standard & Poor’s Credit Rating Agency (S&P), Iraq maintains its credit rating at B- / B with a stable outlook, indicating financial and economic stability in Iraq”
MarkZ [via PDK] From Banking people…they tell me they were told suddenly to start training more people on foreign currency exchange…. I take that as a good thing. They had kept their training to smaller numbers up until now. It would make sense to me now that we are so close…for them to get more people ready to roll.
Militia Man The reason why I’m in this investment is because I listened to the IMF. I read the IMF documents. One of the longest reports I’ve ever read. I read every page…198 pages. That’s where the IMF talked about $3.22. that was what the exchange rate was back in those days. Reinstatement…Revaluations are legal things.
RayRen98 [via Treeman] 3 LETTERS ARE “TALKIN” BUT I AIN’T “LISNIN” UNTIL I SEE SOME RESULTS! LOL THEY ARE LOOKING AT TONIGHT INTO THE MORNING…AGAIN
Samson Article: “For the first time, Iraq was chosen to chair the Group of 77 and China at the United Nations”
Sandy Ingram Iraq’s employment rate, inflation rate and GDP affect the value of [Iraq’s] currency. The Development Road Project will positively affect Iraq’s economic status and provide a dependable income stream outside the oil industry. As a global corridor to transport goods and energy the project will generate many jobs and investment opportunities for Iraq and the countries of the region as it will attract global trade.
Clare Article: “US Treasury praises Iraq’s progress in monitoring transfers and selling dollars” Quote: “The US Treasury Department praised the remarkable progress made by the Central Bank of Iraq in strengthening control procedures over foreign transfers and cash sales of the dollar, while considering that these steps contribute to strengthening financial and economic stability in the country”
Wolverine Everything is ready to go. Everything is in place. …Get ready for …Tues. 3 Sept. …On Sun. 1 Sept. the Banking sector was notified that the mechanism to exchange foreign currencies and Securities has gone live. We are finally here…
Kaperoni Article: “Central Bank meets with electronic payment companies and contracts with an international auditing firm in New York” Community Comment: “They have been saying that for 15 years.” Clearly you do not stay up to date… Iraq is making progress ever so slowly. Digital payments and electronic banking is the future in Iraq and will take effect early next year. The new Central Bank building will become a beacon in Iraq as they diversify their economy.
Militia Man Back in the old days…when Saddam Hussein was around, when their valuations were out [$3.22], they were valuing based off of what? Oil. They didn’t have non-oil revenues. Times have changed. They need to renew all of that…They’ve had plenty of time to do research and analysis to…provide an appraisal for the people that need to know the numbers.
MarkZ [via PDK] Question: Are we now waiting for the election…? MarkZ: I don’t think we are waiting on the election. I think things are being forced through as we speak.
Clare Article: “Prime Minister’s Advisor Announces Increase in Non-Oil Revenues Compared to Previous Years” Quote: “Saleh…oil revenues (semi-annual) for the year 2023 amounted to 53.88 trillion dinars, while non-oil revenues amounted to nearly 0.42 trillion dinars (during the six months of the same year 2023),” indicating that “oil revenues in the first half of the year 2024 amounted to 58.80 trillion dinars, while non-oil revenues (at the end of the first half of the year 2024) rose to reach 7.18 trillion dinars”
Mnt Goat …I was told [by CBI contact] once again the process will begin with “EDUCATION” followed by “ACTION”… Yes, we have seen some of it already but there is more to come… Also...the necessity of the parallel market to get very close, if not matching, to the official CBI rate. We are watching for this and it has not yet reached its goals.
Samson “Prime Minister’s Advisor Announces Increase in Non-Oil Revenues Compared to Previous Years”
tishwash Article: “Prime Minister’s Advisor Announces Increase in Non-Oil Revenues Compared to Previous Years“
MarkZ [via PDK] They are openly talking about Lower Denominations in Iraq again…13 banks are set up in Iraq to handle exchanges.
