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Sunday, April 1, 2018

DINAR GURUS UPDATE, 1 APRIL

4-1-2018   Intel Guru Delta     "URGENT FROM IRAQIA TV:  CBI...WE HAVE SUCCEEDED IN ENDING THE EXCHANGE RATE GAP..."   Article:  "Central Bank: We have succeeded in ending the exchange rate gap"  YEP...PAST TENSE ...SUCCEEDED...  [...does this mean they have ended the auctions?]  NOT YET... RATE FIRST...

4-1-2018   Newshound Guru Stryker
   Article:  "AMBASSADOR DOUGLAS SILLIMAN REMARKS AT IRAQ ENERGY FORUM"   This shows us without a doubt that Abadi and his Cabinet of Ministers must be willing to turn over the economy to the private sector and release control of this out of date centralized economic system and it needs done NOW!!

4-1-2018   Intel/Newshound Guru sandyf   There should be a bit more clarity when referring to banknotes. There is no such thing as 'Older' or 'Newer' notes per se. Banknotes either belong to a previous series, a previous currency, a new series. or a new currency. The fundamental difference between a revaluation and a redenomination is the former retains the same currency whereas the latter introduces a new currency. There can be some distortion in terms of RD as there is an inherited revaluation of the monetary unit (not the currency) which may be perceived by some as a revaluation.

KTFA UPDATE, 1 APRIL

DELTA » March 31st, 2018

URGENT FROM IRAQIA TV:


CBI.....WE HAVE SUCCEEDED IN ENDING THE EXCHANGE RATE GAP..........

Jody’sAngel » March 31st, 2018

Come on CBI tell us more......we need 2nd Article complete....

Connie » March 31st, 2018

Holy Smokes, Delta!! Awesome news!! "And the beat goes on...."
Pretty soon...."Celebrate Good Times.. Come On"!!! 

Lender » March 31st, 2018

I HOPE that means what I think it means....

Frank26 » March 31st, 2018

OH NO YOUUUUUUUU DID' ENT ................. WOW !!! CBI .............. DELTA AND I SAY................ PULL THE DOG ON TRIGGER !!!!!!!!!!!!!!

Greenclan » March 31st, 2018

DELTA.........thank you............IF that came out today. THEY HAVE COMPLETED EVERYTHING.......RATE SHOWN SUNDAY and BUDGET SHOWN MONDAY......>>WOWWWWWWW imo

Jdufal1 » March 31st, 2018

Does that just mean they're 2% compliant per IMF 

DELTA » March 31st, 2018

YEP.......PAST TENSE ....SUCCEEDED.......(wink-Big Grin)

GrannieAnnieks » March 31st, 2018

WOW WOW WOW JUST WHAT WE HAVE BEEN WAITING ON !!!

Iggy » March 31st, 2018

I will not get excited...i will not get excited...i will not get excited...

Pursuit » March 31st, 2018

Delta, does this mean they have ended the auctions? 

DELTA » March 31st, 2018

NOT YET......... RATE FIRST........

Frank26 » March 31st, 2018

DELTA .............. AS U KNOW WS IS WITH THEM ............ ALL DAY MEETING ............ I'LL CALL U AS SOON AS HE REPORTS TO ME.......... WHAT TIME WILL U SHUT DOWN TONIGHT? BTW ........... ITEAM SAID THIS WAS RELEASED THIS MORNING.

DELTA » March 31st, 2018

UP FOR NEXT 24 IF I CAN......I DID SEE IT ON TICKER IRAQI TV..

Frank26 » March 31st, 2018

COPY .......... THEY ARE GETTING CONFORMATION AS BACK UP FROM IMF............ I'LL CALL U IF THEY REPORT.

Samson » March 31st, 2018

Central Bank: We have succeeded in ending the exchange rate gap


Views 306 Date Added 03/31/2018

Economy News Baghdad:

The head of the central bank's financial operations, Mahmoud Dagher, said Saturday that the central bank's three-pronged strategy has contributed to the reform and development of the banking sector.

Dagher said during a seminar held on the ground of the Baghdad International Fair entitled "Challenges of the banking sector and the reform strategy" and attended by "Economy News", "The reform carried out by the Central Bank, based on three axes, the first close the exchange rate gap, Carrying out financial inclusion and settling salaries and the third related to the process of technical development within the banking system.

He stressed that "these axes constitute the basis of the strategy of the Central Bank to develop the banking system."

During the seminar, the Director of Financial Statistics at the Central Bank talked about identifying the challenges coming from the external environment, which included public banks and the science of low capital, as well as the absence of law in the process of achieving the shortcomings of the customers towards banks.

The director of risk management at the Bank of Baghdad, Nabil Abdel-Hur Toman, talked about the political risks and their relationship to foreign investment.

"Any country with high political risk will prevent the foreign investor from coming to it," Toman said. "We need to develop a methodology and strategy for the coming years related to planning, measuring and analyzing risks to minimize their impact."

And that the reduction of risk requires the participation of the government and the central bank and investment bodies as well as the banking sector.

He pointed out that "Tuman should provide a saving investment environment to the successful investor has a sophisticated banking system and fixed laws and investment facilities for taxation," adding that "Iraq during 2014-2015 was ranked sixth in the world on the level of political risk, according to international reports" .

In turn, the financial adviser to the Association of Iraqi Private Banks, Samir Nusairi, explained during a speech at the symposium that "the challenges facing the banking sector is not the last responsible, but the structural imbalance in the economy in general."

He stressed the need for a clear methodology to overcome this structural imbalance, which is reflected in the inability of non-oil revenue and the deficit of the general budgets of the state as well as the balance of payments deficit and other aspects related to infrastructure.

He pointed out that the banking sector, under the leadership of the Central Bank of Iraq and according to the strategy of the last years 2016 2020, has been able to achieve good results in the development of the banking sector, including financial inclusion and the settlement of salaries

http://economy-news.net/content.php?id=11763

SteelyJan » March 31st, 2018

Ohhhhhhhhhh buuuuuddddddddyyyyyyyyyyyy!!!!!!!!!!!!!! There IT is! IN PRINT!!! Done. Past tense. WOWEEEEEE~~~~TYSM Samson!!!!!!! Oh my........

HoosierGirl » March 31st, 2018

Hmmmm... so they are publishing the budget OFFICIALLY in the Gazette on MONDAY. Could it be they are waiting till then so they can have the NEW RATE announced OR in place by midnight March 31st and the budget will be published WITH the new rate on Monday?????? Seems very likely to me. 

DogLuvr » March 31st, 2018

That's how I see it!

SteelyJan » March 31st, 2018

Awesome news waking up to on this lovely day!!! WOW is right!!! Sooo many things ...... coming together, convergence:

Passover & Good Friday = same day

Full Moon & Blue Moon = same mth (last night/tonight)

Easter & April Fool's = same day

Iraq New Year + Easter + April Fool's Day + Full Moon = BOOM BOOM BOOM !!!

NEW DAY = NEW BEGINNING

Noodlesdad » March 31st, 2018

RE: Delta's article posted this AM.... IMO....As to why the CBI would post it on their site for just a short time..... It makes some sense to me that as the Governor met with the newspaper people, which may have happened several days or even a week or more ago, he told them that to avoid any leaks to the public if they wanted some vital information for the citizens...... they would need to log on to the CBI site on a certain date and time, for a very short window of time to view it, (perhaps only a few minutes) because it would be quickly pulled down to protect the confidential information. Just IMO, It would also make sense to me that this access to the info would have to be granted just a short time before the LDs are released, hey... maybe a day or two later...IMO. This could happen.... any other ideas out there???

Yardbird » March 31st, 2018

Excellent Analysis IMO

Samson » March 31st, 2018

Article: Including "Almasl" and shaving .. 14 tax awaits Iraqis with the entry into force of the budget LINK

Another » March 31st, 2018

Love love love this article!! Do they dare tax a currency at a program rate?

Don961 » March 31st, 2018

trying to recall the article ... but it talked about the issuance of lower denoms ... with smaller notes having the equivalent or higher value .... and the corresponding price adjustments in the stores ... dealing with fewer zeroes ... psychologically would make it easier for taxes to be included in the "new" prices ... and not be such a shock to citizens ... imo 

DELTA » March 31st, 2018

AT 1-1 THE PRICES INSIDE IRAQ WILL DROP BY 20%........IT WILL BE SUICIDAL IF THEY DON'T CHANGE RATE BEFORE IMPOSING THE 14 TAXES......

Don961 » March 31st, 2018

Call for reforming the general budget and diversifying its revenues


31/3/2018 12:00 am 

The adoption of technology in public spending determines its financial returns

Baghdad / Emad Al-Amara

The adjustment of the general budget conditions and ensuring the continuity of the efficiency of the state's financial activity in economic activity and social life are related to the factors related to the coordination of public revenues with expenditures related to fiscal policy, which is an important part of economic policy. Of the State based on financial policies stemming from the actual needs of society.

Al-Ani said in an interview with Al-Sabah that reforms should be in accordance with the economic, social and political conditions in the society, and this does not negate the importance of working to achieve the efficiency of public spending and ensure that this expenditure goes to the purpose assigned to it. 

Al- Ani pointed out that "basic services such as health and education may be available at appropriate rates and qualities, but for certain reasons the poor can not enjoy their advantages because they are too poor to bear the costs of medicine or move to the place where these services are available." Interests in the process of financial reform. "

private sector 

He stressed that "reducing the budget deficit and reform begins with the reform measures of the public finance sector by working to reform the private sector and activate its role and make it a more productive sector and committed to long-term investment, and directed towards real productive activities instead of non-productive activities and rapid profitability." ​

"In order to achieve this, it is the duty of the government to provide an environment conducive to private investment and attract foreign investment by adopting a set of amendments in the existing legislative and regulatory environment to allow equal opportunities for all and high transparency, as well as increase non-oil revenues by starting to exploit resources available from mineral resources In particular natural gas in a way that achieves the largest possible revenues, as well as raising the level of management of the state's public property, land, real estate and other properties in terms of efficiency and efficiency. " 

Money bills

Al-Ani called for "the establishment of free zones and the optimal exploitation of the geographical location enjoyed by Iraq," adding that "the reforms also include the management of public institutions and companies according to economic fundamentals and modern accounting standards, and supply of government share of surplus profits first Powell, Budget financing, as well as its role in the national economy. " 

He explained that "the stock market represents a large space for the work of fiscal policy to affect the overall financial and monetary variables, especially the rates of inflation and interest rates and exchange rate of the local currency, and it also gives room for the application of more efficient and effective monetary policy through the Central Bank.

"At the same time, the government bond market offers the opportunity for the monetary authorities to achieve many benefits related to the functions and activities of these authorities. The most important of these benefits and advantages is that the existence of bond markets helps to shift towards the use of indirect instruments in the management of monetary policy,

Open, and these, as a whole, indirect factors in the interest of the general budget of the state. Sophisticated methods certainly concluded al - Ani , his speech on the importance of " the adoption of technology in public spending, ie , the use of modern technology and methods developed for the distribution of public money better by measuring the yield of this spending, what contributes to the transfer of money from spending non - product to the product of an economic cost - effective spending link

Samson » March 31st, 2018

The New York Stock Exchange is in talks to buy the Chicago bourse


31st March, 2018

The New York Stock Exchange is in talks to buy the Chicago stock exchange a month and a half after US regulators refused to sell the Chicago bourse to an alliance of Chinese investors, a source said on Saturday. 

"The New York Stock Exchange could pay about $ 70 million to the Chicago bourse, and the Chicago bourse declined to comment, while the New York Stock Exchange did not respond to a request for comment," the Wall Street Journal said.

The Chicago Mercantile Exchange said earlier this month it was looking for potential new buyers after the US Securities and Exchange Commission rejected a $ 25 million deal in February to end a two-year bid by the US stock exchange to sell itself to an alliance of Chinese investors. LINK

Interesting that this appeared on an Iraqi news site

Vietnam's foreign exchange reserves exceed 60 billion

11:00 - 31/03/2018 

Vietnamese Prime Minister Nguyen Xuan Fuk said Friday that the country's foreign exchange reserves exceeded 60 billion dollars.

The country's foreign exchange reserves have seen steady growth in recent years, supported by strong exports.

According to Reuters, "the government announced a trade surplus of 1.3 billion dollars for the first quarter of 2018.

"We are trying to improve the business environment in Vietnam and aim to make it one of the most positive and competitive business environments among ASEAN countries," Fok said in a speech at a regional economic summit in Hanoi, referring to the Association of Southeast Asian Nations.

The prime minister reiterated that the government plans to reduce the corporate income tax rate to 15-17 percent from 20-22 percent now. LINK

This is appearing on news sites again today 

Central Bank confirms the existence of coordination to open an Iraqi bank branch in Saudi Arabia

31st March, 2018

Iraqi central bank governor Ali al-Alaq said on Saturday that there is coordination between Baghdad and Riyadh to open a branch of the Iraqi Bank for Trade in Saudi Arabia in order to achieve a strategic partnership in the economic, trade and investment fields.

"The monetary relations between Iraq and Saudi Arabia are good, and soon a branch of the Iraqi Bank for Trade in Saudi Arabia will be opened in order to facilitate the trade exchange between the two brotherly countries," Allak said in a press statement.

He added that "Saudi Arabia will also decide to open a branch of one of its banks in Iraq soon, which will promote economic relations between the two countries." LINK

Baghdad agrees for new American university to be housed at Water Palace

31st March, 2018



The US-led coalition used Al Faw Palace in Baghdad to house 'Camp Victory' during the invasion

ERBIL, Kurdistan Region — Baghdad has selected Al Faw Palace as the location for the American University of Iraq - Baghdad (AUIB), a facility originally built by Saddam Hussein, then used by the US-led coalition as a camp following the invasion.

Ali Razzouqi Hussein, a director for private education in Iraq's Ministry of Higher Education and Scientific Research, announced that Baghdad received official approval for the location of the campus at Al Faw, which is also called the Water Palace.

According to job postings by the university, it will open in September 2018.

"A city within a city, AUIB will provide a unique and comprehensive experience to our students and staff, not only in education but also campus living. We are proud to have this amazing location, self-contained campus which provides a wide range of facilities and services that caters to the university community as a whole," the university self-described.

With renovations underway, the facilities will first house a College of Law, College of Medicine, College of Arts and Sciences, and College of Business.

The complex is about 5 kilometers from the Green Zone.

Some of Saddam's palaces were destroyed during the US-led invasion in 2003, while others like Al Faw were spared and have been used by the coalition.

In March 2017, US Ambassador to Iraq Douglas Silliman and Iraq's Higher Education Minister Abdul Razzaq Abdul Jalel al-Essa agreed to take steps to open an American university in the capital.

There are two American universities in the Kurdistan Region: the American University of Iraq - Sulaimani (AUIS) and the American University of Kurdistan - Duhok (AUK). They were established in 2007 and 2014, respectively.

Micheal Mulnix will be the first president. He also was the first president at AUK. He holds a doctorate from the University of Maryland and a master’s degree from the University of Notre Dame.

He met with Essa in February in Baghdad, where they discussed fields of study to be offered, foreign administration, educational staff, and other requirements, according to a statement from the higher education ministry.

AUIB is meant to be "a world-class institution of higher learning established in the city, reminiscent of the days when Baghdad was an educational mecca and the flourishing capital of the Muslim world," according to the university. LINK

RAYRAT98 TIDBIT, 1 APRIL

Saturday UPDATE for March 31, 2018 

Posted by RayRat98


Quotes from Commissioner Ahmed Hama:

"The general budget law for 2018 is effective after it is published in the official newspaper, otherwise the law can not be worked at all."

"The Ministry of Justice will publish the budget law in the Official Gazette next Monday after the decision of President Fuad Masoum to publish the law last Thursday."

"All legislated laws are subject to scrutiny by the law enforcement committee of the Ministry of Justice. This will take place on Sunday to give permission to publish the law and distribute it to be effective in the government departments." Time Will Tell! #wearethepeople

Worldwide Celebrations as Iraqi Dinar Revalues 1:1000!


Iraq Banking & Finance News

Just as the dinar speculators predicted, Iraq has re-valued its currency 1000-fold, making dollar-millionaires of ordinary folk from Anbar to Arkansas!

The unprecedented 100,000% revaluation was welcomed by businesses all across the world, who saw nothing strange about paying $1,000 today for something that was priced at $1 yesterday. At the stroke of a pen, foreign companies now pay their cleaning staff in Iraq more than they pay board-level directors back at home.

Dozens of ‘investors’ in America partied the night away, as news of their windfall came through.

Billy Bob, from Alabama, exclaimed: “I knew it would happen, just like the Lord said it would!” When asked why he only invested $1,000 if he knewit would revalue, he declined to comment.

Peggy Sue, of Butte, Montana, said:

Wooo hooo!!! I knew if I just said ‘Go RV!’ one more time on an internet forum that it would somehow make it all come true – you just have to believe hard enough!

Asked what she would do with her gains, she replied:

“I’m re-investing. Cousin Cletus buys his bait from the same guy as a director of Goldman Sachs, and he said that one day these rocks he sold me will turn into gold. I know it’s a long-shot, but the upside is so large it’s worth gambling on, and I’m only going to give him what I can afford to lose, and take a long-term view, so that makes sense, right? Hey, I’m an investor, and investors take risks, and I’d just hate myself if I missed a golden opportunity like that. Go rocks!!”


An Iraqi government official told us off the record:

“It’s so obvious, with hindsight – we should have done it sooner. All we had to do to be richer was to say the currency is now worth 1,000 times more, and everyone would be willing to pay 1,000 times more for it. I mean, wouldn’t you?”

But one dinar seller, who asked not to be named, said:

“I’m devastated! If I really thought this was going to happen, do you think I’d have sold dinars at the old price? What sort of an idiot was I!”

Meanwhile, a special sitting of the United Nations General Assembly has been called to discuss this unprecedented shift in global power.

Published Features of New Iraqi Currency After Deletion of Zeros 3/31/18

5 Dinar note is out. 

Be Ready 

They wouldn't print it or advertise it if there wasn't a need for it. 

---

Dannair publishes the features of the new Iraqi currency after the deletion of zeros

https://nazekpress.wordpress.com/author/nazekpress/



The Central Bank decided to adopt some of the landmarks and images to be placed on the new currency after the deletion of zeros .. The agency received a copy of the Central Bank's book, which included cultural and historical landmarks and images to be placed on the currency with the implications of the nearby to the minds of the public And the culture of the Iraqi ..


 According to the book: The paper currency included a number of monuments and images, the most important, a picture of the bridge of the imams and the significance of the significance of high value if the bridge reaches between the two sides of the Tigris River and on both sides of the observers Imam Musa Kadhim (p) and Abu Hanifa Numan (Raz). The book of the bank entitled to the Directorate Nation for issuing cabinets: that this image allocated to the highest class of the new currency, a category (200) dinars and two hundred dinars on the back of this paper put a picture of the school Mustansiriya in Baghdad .. He added the central bank: (100) dinars, one hundred dinars, pictures of the Zouaiya area in Baghdad, one of the ancient areas in which the bridge was built suspended one of the achievements of the Iraqi state .. 

Iraq is one of the leading countries in the construction of this type of bridges and shows in the picture building the Central Bank of Iraq , In addition to the building of the University of Baghdad, which is the oldest scientific institution in Iraq in the second half of the twentieth century, while on the back of the paper image (Zaqora), one of the features of the Iraqi architecture at the dawn of history ..

 The book of the Central Bank: (50) dinars (fifty dinars) picture of King Claudia one of the most famous kings of the dynasty The second pillar (the twelfth king) is the god of growth and fertility, while the back of the paper included a picture of the fortress of Ahkaydir, an archaeological fortress dating back to the Abbasid period and the unique defensive fortresses in a desolate area such as the one built there. This fortress is located to the southwest of the city of Karbala. 

central bank : In the face of the paper of the category of (25) dinars (twenty five dinars) put the image of King Hammurabi receives the law .. This son is the father of the spiritual father of human legislation as he wrote the rules governing the life and transactions in his famous Muslim either the back of the paper has included a picture For the agriculture of Kurdistan Iraq contributes with the men in the preparation of the field of agriculture .. 

The Central Bank: Put on the face of the banknote of the category (10) dinars (ten dinars), the image of the dinar Arab Islamic and represents this dinar, which was minted under the Umayyad state The Islamic state that strikes inside the state is one of the features of the state Sovereignty and economic independence, while the back of the paper has placed a picture of the lighthouse of humpback in Mosul, one of the distinctive features of urban in our beloved Iraq .. 

In the category of (5) dinars (five dinars) has placed on the face of her paper a picture of a total waterfall on the Iraqi Kurdistan, a reference to the interest of the state water and its sources in addition to interest in tourism and the environment either the back of the paper has been placed a picture of Nakheel Iraq is a sign and property for each land The central bank said in writing: In line with the best applications and global experiences, decided to stop the basic features of banknotes of the categories (25000,10000,5000) dinars Currently in circulation in the new series (25.10.5) dinars for the public A thousand with it as it was imprinted in his memory. 

The Bank pointed out that it is keen to choose designs for coins that are general and comprehensive and have a positive impact on all the Iraqi people. The coins are shown on the map of Iraq and highlight the Tigris and Euphrates rivers. The map shows a circular area to stabilize the coin coin category. Of the coins included, first category (2) dinars, a picture of (Deir Mti), a historic and spiritual site located in northern Iraq, and taken by the Iraqis from various sects and religions a place of tourism and tourism. While the category (1) dinars picture taken from the fact that the displacement of the Faily Kurds was designed by the Ministry of Culture. (500 fils) was placed on a modern dam on the Euphrates River. It was intended to highlight the importance of water and its storage and organization in Iraq. In the category of (250) fils, pictures of the Kut dam were placed on the Tigris River for the same purpose. ) Fils, a picture of the Lion of Babylon symbol of strength and violence of the Iraqi nation.