Militia Man Article: “The Finance Committee ‘knows nothing’ about the budget tables” Al-Sudani has been holding his cards so ever close to the chest. The looks of it now is that he will not expose the 2024 schedule data until after there is an exchange rate change that will reduce the deficit. Will that be after the vote for the Speaker of the House of Representatives in the HoR and or before extraordinary session for Sunday by the Prime Minister of Iraq, Al-Sudani.. Time will tell. But, since the CoM nor the HoR have yet to receive the 2024 Budget schedules we can deduce, it is going to be a very tight window for events to occur.
Frank26 [Iraq boots-on-the-ground report] FIREFLY: Television says the speaker of the house will be voted on and will go through on Saturday and then the meeting of the emergency session for the review of the budget with the COM will be Sunday…Then the budget goes to the House the middle of the week. FRANK: They know what’s going on.
MarkZ [via PDK] They are continuing to crack down to keep people quiet. But its very positive because of the sheer number they are cracking down on. And very positive on the number of people getting trained in banks on foreign currency. Overall it’s a fantastic time to be us.
Samson Article: “Parliamentary Finance: The Council of Ministers will approve the budget schedules on Sunday“
Pimpy We are seeing a renaissance take place over in Iraq. But the same issues that are keeping it from really taking off and giving Iraq the type of boom it really needs in its economy and its growth is being held down by the same corrupt politicians that have been holding Iraq back for the past 20 plus years...But overall the report from Jeanine Plasschaert was very very uplifting and praising. It showed a lot of positive things taking place in Iraq so don’t let the bad things overshadow all the progress Iraq has made…We look forward to Sudani continuing this for at least another four years we hope.
Bruce [WiserNow] …we got some pretty good information…from…one of the very most top people in our lead bank which is Wells Fargo… “Looks good for a shotgun start over the next two days”. …the green light so to speak is given… And that was said Wednesday…What is interesting is we know we’re super close.
MarkZ [via PDK] On the banking side there are big expectations for this weekend. Many people saying this. And expecting a big announcement out of Iraq this Sunday. Hopefully this is it. We will find out Sunday or Monday.
Kaperoni [Post 1 of 2……] Article: “IMF Executive Board Concludes 2024 Article IV Consultation with Iraq” My preliminary review are the Article IV Consultation clearly emphasizes the urgency to diversify their economy in raising non-oil revenue…There’s also significant discussion encouraging Iraq to continue to develop their banking system and remove excess liquidity.
Kaperoni [Post 2 of 2] These comments from the IMF are obviously meant to encourage them that the opportunity is now to develop and accelerate economic growth…as well as to take significant steps forward with their banking system engaging with banks outside of Iraq. From these documents, it is very clear that Iraq still has a lot of work to do. And I do not see in the near future any change in monetary policy until progress is made. Again, creating the conditions for economic growth appears to be the focus.
Clare Article: “IMF Executive Board Concludes 2024 Article IV Consultation with Iraq”
MarkZ [via PDK] Article: “Russia endorses Vietnams future participation in BRICS: Russian ambassador” This is the world doing the fundamentals it takes to change their currencies. We are seeing a seismic shift from fiat back to commodities. This is a big piece of news. And Vietnam is pushing toward that end…like Iraq and it’s with or without the US. Question: Will the VND go at the same time as the IQD? MarkZ: We still expect them to go at the same time.
Wolverine [via Judy Byington] “I hope you guys are excited. …A lot of things are happening… Bond Holders will probably get blessed this week. Remember, the bond holders go first, and then the currencies holders. Tier4B will actually be “golden” in a few days, in my own opinion, we are that close right now…
