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Thursday, June 25, 2020

DINAR IRAQ AND DONG VIETNAM UPDATE, 25 JUNE

The news this period is all about getting more pressure on the government (GOI) to assist the private sector to prosper and to get off oil as the sole source of revenues.
Many articles telling us all kinds of rumours as to how they intend to find the salaries for June.
These salaries are due next week.

Will they have the money?
NO – they are not borrowing from outside Iraq.
Nor can they borrow any more internally either from the banks.
The CBI has finally issued a “white paper” again on the financial sector of Iraq.
It is all very good as they talk about going international and completing the “project to delete the zeros” in the “coming period”.
We are slowly progressing to the end of this ride and it will not be much longer.
We are now seeing many of the reforms we could only pray for these last couple years.
Yes, they are actually doing them.



All I can tell everyone NOW is it will be much sooner than later and certainly not January 2021.
The head of the Iranian-Iraqi Chamber of Commerce Yahya Al-Ishaq announced that, according to a bilateral understanding, Baghdad will pay Tehran’s dues in the Iraqi dinar and that the Iraqi side expressed full preparedness in this aspect.
Why Iran want accept dinar if just remain non tradeable in forex market?
Most notably the reorganization of the popular crowd
The Persian-language Kayhan-London newspaper published a report in which it indicated the decline in Iranian influence in Iraq, in light of the developments of the current political scene, noting that "the factors that underpin the Iranian regime to extend its influence in Iraq are falling apart one after another."
Prime Minister Mustafa Al-Kazemi confirmed that he does not back down from the line of economic reform and social justice.
Al-Kazimi said in a tweet on his Twitter account: “Iraq suffers from a chronic defect in the management of resources, exacerbated by the decline in the price of oil and the Corona pandemic.”
He added: “Our reforms will achieve economic growth and financial efficiency by stopping waste and ending harnessing people’s wealth as double salaries and granting to groups (such as the detainees of Rafha), but not others.”
He concluded by saying, “DO NOT RETREAT FROM THE LINE OF ECONOMIC REFORM AND SOCIAL JUSTICE.🤗🙏😁

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