Clare Article: “Parliamentary Finance Committee praises Al-Sudani: He has a real will to boost non-oil revenues”
MarkZ [via PDK] Let’s start with this one from the WTO: “Congratulations to 23 participants (Iraq being one of those) for completing WTO ascension training and market access negotiations on goods” This tells us Iraq is preparing for that ascension. I continue to hear out of Iraq that they hope for that announcement this week.
Militia Man The efforts are just absolutely I think phenomenal. We don’t have a date and rate but…we can see Iraq is going to a market economy in the private sector…
Frank26 Question: “What happened to the unpublished Gazette edition [possibly containing the 2024 budget]?” It’s still in the top drawer and next to the blue box with the red bow tie on it that says HCL…
Pompey Peter I believe we are extremely close IMO to what we want to see.
Pimpy The difference between the exchange rate and the effective exchange rate is this: An exchange rate is a price at which one currency can be exchange for another. It reflects the current market value of a currency in relation to another currency. The Real Effective Exchange Rate on the other hand is a more comprehensive measure that evaluates a country’s currency relative to a basket of other major currencies adjusted for inflation…The REER provides insights into a country’s international competitiveness by considering how much goods and services cost in different countries…They have a Real Effective Exchange Rate already. It’s being used…
MarkZ [via PDK] My gut feeling is screaming I’m going to finally get to call it quits before Halloween. I am so darn hopeful we are on the short and skinny side of this thing.
Clare Article: “Al-Sudani: All I aspire to is to serve the Iraqis” Quote: “We are turning into a promising country that represents a cornerstone in the stability of the Middle East, he said, adding, Iraq and the United States are bound by the Strategic Framework Agreement in 2008, and we are working to activate it. He stressed that the Iraqi people are currently living in a state of hope and optimism.“
Militia Man I truly believe one of their agendas in sustainable development is revaluing the Iraqi currency… Sudani stated many time, be careful Iraq, Iraq is stronger than the dollar…they’re going to be (as hammered at home) somewhat of the savior of the global financial system. How are you going to do that at 1310 when you never did it before? …Obviously they’re going to do something completely different.
Frank26 Question: “What’s the process of the new rate going live on Forex?” The CBI, when they officially announce it to the world at the same moment those words are coming out of their mouth, then they push a button that sends the official rate all over the world, not just to currency exchanges but to banks, to reserves, to those that need the information…
Bruce [via WiserNow] Now, remember, rates in the redemption centers will be the best rates higher than the banks, and this is something that was orchestrated to give us the highest possible rate…It’s true of the dong, and it’s certainly true of the dinar as well..
Wolverine [via Judy Byington] From all sources, this is the week we have been waiting for. Things are…moving.”
