Deepwoodz They’ve changed the rate without budgets before. No reason they can’t do it at will. To start the float. The key here is the size of the budget and the international standards being applied along with the upgraded banking systems. They have a plan. Watch em work it. They appear to be pushing hard in the right direction.
MarkZ [via PDK] Question: I missed what the estimates of the currencies rates were…Could you give a refresher? MarkZ: Noone knows for sure…but, the rumors…I have the most faith in are around $4 for the dinar…around $2.25 for the dong…We have seen rates for the dinar close to $5 recently and close to $3 for the dong on bank screens…we are not going to know the exact rate until we are exchanging…but we are hopeful those rates are close to accurate.
Militia Man Article: “The Iraqi budget is moving toward ‘publishing and disbursing’ without presidential approval” There is no need for the President to approve the budget schedules, as the Budget law was passed in June 2023. When it was approved then it allowed for the Government to amend the budget. The HoR gets to distribute the operational and investment expenses, allocations, and financial dues to ministries, institutions, bodies and government agencies in addition to disbursing to the governorates’ dues that are specified in the budget tables.
Walkingstick [Iraqi bank friend Aki – highest level banking meeting update] Sudani is putting contracts in place to be implement inside of Iraq. Sudani has been doing this with thousands of contracts. “In the coming days” is what they told us that these contracts will be fulfilled in IQDs for most of the budget’s projects…Those contracts will be fulfilled for their value but paid in IQD’s only.
Samson Article: “A parliamentarian challenges the budget schedules before the Federal Court.. Document”
Jeff The budget is unconstitutional and appeals have already been filed with the court. The court is going to step in, it’s going to be overturned.
Bruce [via WiserNow] …we got some information from one of our sources in Iraq – Very powerful – spoke with Dr. Sudani, the prime minister of Iraq…He said that the rate on the dinar and the budget…had been handed over…to their official documentation to their official record…but… We haven’t had publishing in the gazette yet…the theory is that…once we have the Iraqi dinar out with a budget…in the printed version of the Gazette …we have a “Game Over”…
Frank26 [Iraq boots-on-the-ground report] FIREFLY: TV says the budget didn’t go to the president for signature but to the publishing in gazette…When the budget is in the Gazette it will go live. So that means a new exchange rate will come soon to correct that new budget because it can’t handle all of these projects at a program rate, correct? FRANK: That is correct. It is also the monetary reform plan of Dr. Shabibi.
Clare BUDGET SCHEDULES WERE NOT PUBLISHED TODAY [Wednesday]. THE GAZETTE COMES OUT ON WEDNESDAYS & SATURDAYS.
CharlieOK It would be very hard to have a “contract” if you don’t know what you are going to be paid. More than likely, the companies with the “contracts” already know what the rate is. The “contract” would have to be subject to an agreed rate certain, in order to be able to agree to an amount they will agree to be paid in consideration of their services.
MarkZ [via PDK] … Sudani signed a cooperation agreement with the trade bank of Iraq and the German export credit corporation. If everybody thought nothing was going to happen in Iraq -then they would not be signing these extremely high level deals. You are watching them become a major player on the international stage. I found this one encouraging. One of the things they are going to need to be taken seriously on the world stage is the value of their currency. Vietnam is also running into that problem right now. They need to revalue up.
