Ariel
@Prolotario1
Launched today?
No delay?
No postponement?
No July 2025?
But I thought that was what the CBI said?
🚨🔥🚨🔥🚨🔥🚨🔥🚨🔥🚨🔥🚨
🎉🔥🚀🎉🔥🚀🎉🔥🚀🎉🔥🚀🎉🤩🎉CBI Governor LAUNCHED Today🎉🤩
•Launching strategic projects such as
1-instant payments,
2-local cards,
3- unified payment gateways.
4- Issuing regulations to license digital banks in Iraq.
5-Developing a robust… pic.twitter.com/18R3Dem26m— Majeed 🇸🇦KSA🇸🇦 (@majeed66224499) December 24, 2024
Iraq News Update
“Now This Is A Merry Christmas”
This is a crazy development here. Totally out of left field but in the most amazing way for Iraqi citizens and the world. I knew something was brewing in the background. This can only mean one thing. Because this will definitely force their hand to act expeditiously in order to quell any potential instability in the market. The only thing left to do is to pull the trigger anytime before January 1st I would presume based on what just happened. I just do not see how they can survive without doing so.
When platforms facilitating currency transfers are suspended, liquidity tightens, and rumors about exchange rate fluctuations can spread rapidly. This can lead to panic in the markets as businesses and financial institutions anticipate changes. A gap between the official exchange rate and black-market rates could widen. This could encourage the growth of parallel markets where currency is exchanged at higher rates, undermining the Central Bank’s control over monetary policy.
The logical next step to prevent destabilization might be for Iraq to introduce the new exchange rate. By doing so, they could:
• Stabilize market confidence.
• Reduce speculation.
• Align market forces with the anticipated economic reforms.
With the auctions suspended and the new year approaching, the window for inaction is small. Iraq may be positioning itself for a currency adjustment or revaluation before January 1st to avoid starting 2025 with uncertainty.
🤩🎉🔥🤩🎉🔥🤩🎉🔥🤩🎉🔥🤩🎉🔥
🚨🚀🎉🚨🚀🎉🚨🚀🎉🚨🚀🎉🚨🚀🎉🔥🔥 banks going international in Iraq🔥🔥
CBI is not holding auction anymore
It was stopped yesterday all of a sudden🚨🎉🔥 going to Forex🎉🔥🚨
“Economist Ziad Al-Hashemi revealed on Monday that the Central Bank… pic.twitter.com/Uh8TGJQez8
— Majeed 🇸🇦KSA🇸🇦 (@majeed66224499) December 25, 2024
This is what you will be doing.
Currency Conversion = IQD/USD
— BROTHERS TECHNOLOGY INC (@BROTHERSTE27892) December 25, 2024
People allow Iraq to assess the market. They just did something extremely bold ahead of the date they were supposed to do it so something obviously changed behind the scenes that prompted them to jump the gun. I presume c********n and other factors were on their mind.
Iraq’s financial reforms are deeply tied to international politics and negotiations. If the exchange rate affects international contracts, IMF agreements, or regional trade deals, the delay may indicate ongoing negotiations behind the scenes.
So I was not expecting them to do another gutsy move on top of that by reinstating immediately after they just suspended the dollar transfer without any warning which even they called unprofessional for how this was carried out. Obviously someone is ready to get this over with.
Because the auctions were being exploited to siphon dollars out of Iraq, contributing to black-market activity and weakening the dinar. Ending them suddenly prevents further a***e. So this major step by itself sets up Iraq to make another adjustment. Which is the new exchange rate.
So please allow them to monitor their next move with caution as many of you were expecting them to drop another wild maneuver on the markets without a heads up when they have international contracts in place is not a smart thing to do. Which is why they have yet to disclose how much Kurdistan is getting.
This just accelerated de-dollarization and Iraq is pushing to reduce reliance on the U.S. dollar and strengthen the dinar. Halting auctions forces local markets to transition faster to dinar-based transactions. Which is what will give citizens their purchasing power. Not to mention the HCL stipends.
Read:
They promised to pay either on Thursday or Saturday
Saturday is already out of question
Because Forex will be closed, they cannot pay them inside the country with different rate because it will be exposed on the mediaThursday today, my time
They’re coming back to work in 6…— Majeed 🇸🇦KSA🇸🇦 (@majeed66224499) December 25, 2024
