Iraqi Dinar Guru opinions 12-6-16
Iraqi Dinar Guru opinions 12-6-16
12-6-2016 Newshound Guru rcookie THE IMF REVIEW IS A CHECK AGAINST IRAQS COMPLIANCE TO FISCAL REFORM COMMITMENTS…IRAQ MADE IN MAY (AHMAN,JORDAN) IN ORDER TO BE APPROVED FOR THE 1ST PART OF SBA FUNDS ACCESS…THE COMPLIANCE CHECK AGAINST FULLFILLMENT CAN ONLY COME FROM 1 SOURCE… [Passing the budget and passing laws?] THEY HAVE BY ALL REPORT ACCOUNTS MET THE REQUIRED REVENUE & EXPENDITURE MANDATES IN THE APPROVED DRAFT OF THE 2017 BUDGET LAW…BUT STILL REMAINS A REPORT UNTIL IT IS VOTED INTO LAW…
12-6-2016 Newshound Guru rcookie and BGG SO UNTIL THAT BUDGET IS VOTED ON AND PASSED…WHAT DOES THE IMF & IRAQ HAVE TO MEET ABOUT… Article: “IMF Executive Board Completes First Review of Iraq’s Stand-By Arrangement” Quote: “December 5, 2016 IMF disburses about US$617.8 million following completion of first review of Iraq’s reform program” Wooo POOOOWWW!!!
12-6-2016 Newshound Guru Kaperoni Article: “Finally .. withdraw your money in Iraq from ATM ” I do…believe this is a significant step forward for Iraq as this advancement will improve Iraq’s banking system activating e-commerce, ATMs, electronic transactions, etc. As stated in several articles this is necessary to meet international standards. Which we know is a requirement for international banking and eventually Article VIII. All measures that will help the dinar appreciate when the time is right. All of this will have an effect on corruption. And show the global financial system Iraq is ready for international transactions.
12-5-2016 Intel/Newshound Guru Mnt Goat Many have requested from me updates on the VND and the ZIM currency revaluation. So here is my opinion… the Iraqi dinar revaluation is the ONLY currency we know of that has the most likelihood of any significant change in value in the near future that could make you a millionaire overnight.
12-5-2016 Intel Guru RayRen98 …we are still waiting… on the IMF review, on the budget information, and we may not hear anything on either point until tomorrow. I don’t think anyone knows how long we are to wait on this. Everything still looks good. I am looking for this to happen this week.
12-5-2016 Newshound Guru BGG IMHO – the IMF wants them to start acting like a real country, pass budgets correctly and on time, pay their bills – kick out terrorists, don’t pursue their political adversaries in a “police state” sort of way …either way – IMF, UN, WB has had enough.
12-5-2016 Newshound Guru Kaperoni Article: “Finally .. withdraw your money in Iraq from ATM” Quote: “CBI launched the National divider that allows the holder of a credit card issued by a state bank and a special withdraw money from any automated teller machine ATM is widespread across the country.” Good news. Project “chucked” or project “divide” whatever you want to call it has been talked about for several years. Finally, it is operational. ATM’S are now active in Iraq! Woo-hoo. This is a critical step towards bringing Iraq’s banking system online and up to speed with the rest of the world. For those who say “Iraq never accomplishes anything,” this is a milestone.
12-5-2016 Newshound Guru ADMINBILL IMO…THE NEWS COMING OUT OF IRAQ IS INCREDIBLY GOOD AND SHOWS ME THEY ARE ON THE BRINK OF COMPLETION BUT HAVE NOT BEEN GIVEN THE GREEN LIGHT TO OFFICIALLY APPROVE THEIR BUDGET AND OTHER ACTIONS. LET’S SEE WHAT HAPPENS TODAY AND TOMORROW.
12-5-2016 Intel/Newshound Guru American Contractor Things in Iraq are going as well as can expected in light of the happenings there. All considering that the Iraqi government has been at war with the Islamic State of Iraq and the Levant (ISIL) since June 2014. Things appear to be looking up for Iraq as the Iraqi Security Forces (ISF) have surrounded the city of Mosul and are currently cutting off all escape routes for the ISIL terrorists. …the private banking system continues to work at minimum modern day banking standards. The banking system is underdeveloped and is a cash based system the majority of the time. Very few banks issue bank credit cards, wire money, issue loans and/or make deposits.
12-5-2016 Intel/Newshound Guru American Contractor The Iraq Central Bank (CBI) has decided to continue with the delete the zeros project or better known in the financial circles in Baghdad as the redenomination of the Iraqi dinar currency. The CBI has started printing the 50,000 (50k) Iraqi dinar currency banknote and will print the 100,000 (100k) Iraqi dinar currency banknote shortly thereafter. The printing of the 100k has not yet started, and talks continue on about printing a 200k banknote. You may also find it surprising that the low denominations currently in circulation will be removed from Iraq. That announcement is expected to come later in the year.
12-5-2016 Intel/Newshound Guru American Contractor Iraq government officials would like to see the country increase the oil production before any serious work on the Iraqi currency is completed. The redenomination is the start of the successful macroeconomic stabilization and will not alter the value of the Iraqi dinar currency. Currently, the economy has not stabilized itself enough as prior to June 2014, when terrorists moved with speed in northern Iraq. The Financial Advisor to Iraq, Prime Minister, Mohammed Saleh has recently said that there is a legitimate concern for bankruptcy because of an increase in the government pensions since 2003… The Iraqi government applied for a loan from the IMF (International Monetary Fund) and the loan came with stipulations. For one, the IMF would like the Iraqi government to reduce the salaries paid to retired government employees. The IMF has not stated what the ramifications would be if the Government of Iraq did not comply with these terms.
12-5-2016 Intel/Newshound Guru Mnt Goat There was a very good article that came out on another rate increase for the Iraqi dinar. This rate increase should not be confused with the project to delete the zeros. This article is talking about raising the rate in the “closed” Iraqi economy and has nothing to do with going international as of yet, which is what is going to get us the money we are looking for as investors. Again I will clarify – there has NOT been any RV in Iraq and the lower denominations are NOT out on the streets or being used by the banks. We do know the CBI has told us that in early 2017 in conjunction with the “project to delete the zeros” they intend to launch the 50, 100 and 200 dinar notes. This means at this time (as in 2017) they will have to do something with the rate or else these notes would be virtually worthless to the average citizen as they would be worth only 5 cents, 10 cents and 20 cents accordingly. This is really good news and so don’t lose sight of it. Can they change their minds and delay it? Sure but we have not heard any new news to tell us otherwise.