Abadi to declare Mosul ‘completely liberated’ next Saturday
Iraq’s city of Mosul will be declared ‘fully liberated’ from the clutches of ISIS terror group next Saturday, sources close to Prime Minister Haider al-Abadi said Thursday.
The Iraqi flag will be raised, and the last bullet will be fired there by Abadi himself, they added.
Few parts in the city are now under the control of ISIS. And they are about to be liberated, the sources further noted.
Nineveh provincial council member Hossam al-Abar said that the Old City of Mosul and the Grand Mosque of Nuri were the starting point of the self-styled caliphate of the terrorists, and the security forces will annihilate the terrorists at the same areas.
1Read more: http://dinarupdates.com/blog/
_____________________________________________________________
_____________________________________________________________
Kaperoni Article: “Baghdad embraces a global financial conference next month” Quote: “Iraq is in dire need to reduce the gap between the Iraqi and international banks, and after the association adopted a training program periodically targeting workers in banks , public and private sectors , and managed to create efficiencies able to advanced systems management, pointing that banking technology conference complements these efforts.” That’s 3-4 banking conferences from April to May.
_____________________________________________________________
Kaperoni (Dinar Guru) – Article: “Central Bank: No distinction between foreign and Iraqi banks and currency auction” Quote: “…the existence of discrimination to deal for the Central Bank of Iraq between banks operating in Iraq, whether foreign or Iraqi, but on the basis of classification because they are part of the Iraqi banking system.” This is an important statement for the CBI to make… this is a requirement of Article VIII (and it has been referred to several times in the consultations) to not only liberalize the foreign exchange, but make it available at any and all banks. A good step to show the IMF the CBI is trying to comply.
_____________________________________________________________
BGG (Dinar Guru) – […I can’t help but feel like we’re starting to go backwards…] How is it possible to imagine we are going backwards? Mosul is nearly liberated…all the of the world financial powers are taking note of Iraq…they all want to support the re-engagement of Iraq with the world financial communities…none of that can happen at their current rate…it’s an artificially low value. Obviously Abadi and Alak were very positive about the early part of 2017 – but that assumed the speedy removal of ISIS and some political stability…things change – just gives us more of a sense of their direction. …if we’ve ever been in a legitimate “window”, we seem to be heading into one now.
_____________________________________________________________
A Dinar Round Table Call!!
“with the whole DU Crew”
from Thurs nite – Apr 27th
Click-N-Listen!!
Smart phone user link – Click here
_____________________________________________________________
The most prominent Council of Ministers’ decisions today
The cabinet held its regular meeting on Tuesday , April 25, 2017 , headed by Dr. Haider al – Abadi.
During the meeting , informed the Council of Ministers on the progress of the battle to liberate the right side of Nineveh in addition to the report on the preparation of the displaced and the measures taken to provide services to them.
The Cabinet also discussed the Turkish air strike , where the Council of Ministers condemned the Turkish air attack on Iraqi territory in the Sinjar area, which caused the occurrence of Iraqi victims and represent a serious violation of Iraqi sovereignty is incompatible with the provisions of international law and the principles of good neighborliness.
Read more: http://dinarupdates.com/blog/
_____________________________________________________________
Kaperoni (Dinar Guru) – Article: “World Bank of Iraq: Economic reforms need to get to the head of an integrated financial system” Quote: “…the World Bank representatives have indicated that economic reforms represent the need to get to the head of an integrated system for the management of the financial operation of the state at the federal and local level.” I have stated it over and over, you cannot have a market economy without the banking system first opening to the world so investors may get profits out. That requires the CBI to get in compliance, move to Article VIII and get the dinar off the peg. As a result, investors will bring money to Iraq through the CBI’s capital account which will allow the CBI to raise the value to offset inflationary pressure created in the economy. First and foremost, the banking system must be activated. Good to see the IMF and WB telling Iraq to get going.
_____________________________________________________________
BGG (Dinar Guru) – The UN Chapter 7 Charter is still in place and is not going anywhere…they’re going to do what they are going to do with their currency’s value…Chapter 7 doesn’t matter at all…all of the sanctions have been removed but the Charter is still there so that we…the U.S…can move troops around at will and that includes all other UN partner nations that matter.
_____________________________________________________________
Stryker (Dinar Guru) – Iraq is ready to take its place internationally. An update of Iraq’s Economic Reforms from the IMF and World Bank review…
_____________________________________________________________
“FaceBook LIVE” w/Call-in from Sunday w/BGG
Click here for Video Replay (4/23)
_____________________________________________________________
EXOGEN (Dinar Guru) – THURSDAY INTEL UPDATE: 1. IN COUNTRY STABILITY IN IRAQ IS FINALLY ALMOST HERE. NOTE: WE TOLD PEOPLE YEARS AGO YOU CAN NOT REVALUE A CURRENCY IN AN UNSTABLE ENVIRONMENT CONTROLLED BY ISIS/ISIL. 2. PAY CLOSE ATTENTION TO THE KURDS. 3. THERE IS ALSO AN OIL PIPELINE TRANSACTION THAT IS THE MAJOR TRIGGER MECHANISM UNDER THE TABLE…HINT HINT! (PAY CLOSE ATTENTION TO OIL JOINT VENTURES WITH IRAQ) 4. IQD PARITY TO OTHER CURRENCY IS INEVITABLE.
_____________________________________________________________
Stryker (Dinar Guru) – Our dinar dominoes are finally ready to topple over in the direction of the perfectly aligned stars that are overlooking the desert soaked deeply in oil.
_____________________________________________________________
BGG (Dinar Guru) – [is the new rate inside the budget?] There is no “new rate” inside the budget…in fact, one of the recent interviews with a CBI official – all but said it wouldn’t happen that way…they did give us an actual list of what was required and in what order it should occur.
_____________________________________________________________
“FaceBook LIVE” session from Friday w/BGG
Click here for Video Replay (4/21)
_____________________________________________________________
BGG (Dinar Guru) – [so we are waiting on Mosul’s liberation and then it rv’s?] That is a pretty “canned” statement… though it may not be far from the truth…as in- pretty absolute. [What about the other currencies?] Dong looks to be a ways out (at best).
______________________________________________________________
tman23 (Dinar Guru) – Coincidental…? You all should be very interested and excited…chatter regarding 4/21 and launching or beginning of something new with in IMF etc…Then i read this…Newshound Guru Stryker Article: “Iraq resumes next Friday talks with the International Monetary Fund and the World Bank“. What makes this so interesting is that everyone is meeting in Washington after they already had 12 day meeting in Amman just last month. Then I saw Legarde in an interview…will be meeting Mnunchin for the first time…Wanna know the date of the meeting …GUESS! Friday…4/21. [post 1 of 2….stay tuned]
______________________________________________________________
tman23 (Dinar Guru) – …it is being said in inner circles that something big regarding IMF…world currency…be that e-currency or whatever the speculation is was beginning 4/21... All I can say…about it is…What I have been reading regarding 4/21 is from a complete different circle from dinarland and nothing to do with IQD… BUT with the latest report of Iraq being there…Sure makes things interesting along with the April 28th budget gap looming… [post 2 of 2]
______________________________________________________________
The World Bank confirms its support for Iraq’s economic reforms and development through an integrated financial management system
The World Bank on Saturday confirmed its support for Iraq’s economic reforms and development through an integrated financial management system, while welcoming the steps taken by the Iraqi government in the field of resource management and the crystallization of reform visions .
The Ministry of Finance said in a statement issued on the sidelines of a joint meeting between an Iraqi delegation headed by Finance Minister Abdul Razzaq al-Issa and in the presence of Prime Minister’s Advisor appearance of Mohammed Saleh and a number of officials of the Ministry of Finance and the World Bank team and representatives in Baghdad in the spring meetings of the IMF and the World Bank in Washington, , “Appointed Iraq News” that “representatives of the World Bank indicated that economic reforms are a major necessity to reach an integrated system to manage the financial process of the state at the federal and local level .”
Read more: http://dinarupdates.com/blog/
______________________________________________________________
BGG (Dinar Guru) – [Do you think that the IMF meeting with the CBI and GOI this weekend could be the GO/No Go meeting for the Revalue of Iraq’s currency?] …IMHO it looks as if all these “talks” will happen first – THEN the Executive Board will decide and vote on, what to do. …the next few days are going to be very, very full of activity. Followed up by the IMF Executive Board. I’m saying – the end of April… up through about the 29th – is a VERY BUSY TIME for Iraq and the world financial overseers.
______________________________________________________________
BGG (Dinar Guru) – […what your thoughts on that no float….I did some research and there are advantages and cons about a pegged rate. I read if theyd come out low it will help with trade but on the other hand it could raise inflation.] Not could – will…it would start an inflationary trend that might not be easy to stop. IMHO – it will be a “managed float” – meaning: it will look so much like a fixed rate – it might as well be fixed.
______________________________________________________________
MadDScout (Dinar Guru) – [Do you think that the IMF meeting with the CBI and GOI this weekend could be the GO/No Go meeting for the Revalue of Iraq’s currency?] I will offer that it is a very important meeting. With the frozen funds coming back on line in June seems strategic.
______________________________________________________________
______________________________________________________________
Breitling (Dinar Guru) – …Think about all the numbers we’ve been watching over the years…we knew what we needed to look for…We always talked about the note count. The note count has to be going down. At it’s peak when I got into the dinar…it was 15 trillion dinar…NOT NOTES…dinar. The max Iraq has had is 9 Billion notes which represented about 30 trillion dinar. So what does that mean? If you have 1 note that’s worth 25k and one note that’s worth 10k, you can see how there are more dinar than there are notes and that’s why we need to be able to parse those numbers to understand exactly what’s going on. But the total was 30 trillion dinar out there and they brought that number down by reducing the note count. So what are we at today?
______________________________________________________________
Chattels (Dinar Guru) – Isis ‘minister of war’ is killed by allied airstrike in Mosul. The highest ranking Islamic State commander in Mosul, described as the jihadists’ minister of war, has been killed in an airstrike.
______________________________________________________________
BGG (Dinar Guru) – Article: “Central Bank Governor: no room to cancel the sale of the dollar window, if canceled, the exchange rate has become 3 or 4 thousand, and perhaps more” Article quote: “On the prospects of floating Aldenarabraghi, similar to other countries in the region, Keywords said that it is Matrouh sealed now, and we are working on editing currency and not float, a large difference between the two” that is a BIG ARTICLE…there won’t be any FLOAT… (no float). PERIOD.
______________________________________________________________
“Flash Cast LIVE” session Sunday afternoon w/BGG
Click here for Video Replay
______________________________________________________________
1bobby (Dinar Guru) – Article: “Parliamentary economy talks about the provisions of the law “Trademarks” As we delved further into what we are seeing is a WTO requirement. The TRIPS Agreement within the WTO guidelines mainly deals with intellectual property protections, it also go into trademark issues. Some ask if this needed for an RV. What it is needed for is promoting trade which is one of the pillars that influences exchange rates.
_____________________________________________________________
Kaperoni (Dinar Guru) – Article: “UNDP to Implement E-Tendering system in Iraq” Quote: “The UN Development Programme (UNDP)’s Iraq Country Office has announced that, starting 1st May 2017, all procurement processes will be conducted using an online E-Tendering system (Electronic Tendering Platform).” Good to see. More electronic, less corruption.
_____________________________________________________________
1bobby (Dinar Guru) – Article: “Iraq and Kuwait to discuss mechanisms for achieving economic complementarity” When they speak of “mechanisms” that means that the substance(s) of the agreement have been met, now they are looking towards implementation. Kuwait and the other ME Countries are learning that they can not survive by oil alone and they need to open the doors to more of a non oil revenue based economy. Iraq has lifted a ban that basically gives the right to Kuwati citizens the right to own property and invest in Iraq. Now Iraq wants the same from Kuwait. Kuwait calls Iraq “An important and promising market“.
_____________________________________________________________
The Baghdad International Fair is due to open at its 44th session
The Ministry of Commerce announced the launch of the Baghdad International Fair in the next 44 session for a period of twelve days, the opening of this session, which was scheduled in early November coincides with the visit of the forty martyrdom of Imam Hussein peace be upon him.
Engineer Hashem Mohammed Hatem, Director General of the General Company for Exhibitions and Commercial Services of Iraq, said that the ministry has submitted the date of the 44th session of the Baghdad International Fair for a period of twelve days, to be 21-30 / 10/2017 instead of the first of next November.
Read more: http://dinarupdates.com/blog/
_____________________________________________________________
DayTrader, a News Researcher for DinarUpdates.com, recently had some interesting commentary.
Here are his thoughts:
Article 140 is much more complex than many realize. If you read Article 140 in the Iraq constitution, it refers to Article 58 of the Law of Administration for the State of Iraq for the Transitional Period that outlines all the steps that must be completed. This was a document constructed by Paul Bremmer to be used until a permanent constitution could be developed and ratified by Iraq. Article 58 states:
Read More: http://dinarupdates.com/blog/
______________________________________________________________
BGG (Dinar Guru) – […I saw the ad for Zain prepaid phone cards in denominations of 250, 500, and 1000 IQD. I would assume they would be similar to 25, 50, and 100 dollar cards. Is this then telling us they are removing 1 zero and not 3? Not sure what to think.] Could just be moving toward increased value. I highly doubt they “take off one zero” since the whole “three zeros project” isn’t about nominal value – or moving the decimal point. It’s about increasing the value.
______________________________________________________________
Kaperoni (Dinar Guru) – Article: “Jubouri Kubiche: The victory of the security forces returned to the political stability of the country” ...if Iraq was waiting for this (as they have said over and over) then yes, it should be a sign of good things to come. That being said, I continue to believe the CBI must meet compliance with the IMF before anything currency related can occur… and they are not in compliance.
______________________________________________________________
Kaperoni (Dinar Guru) – Delegation from US Congress visiting Iraq says…”Iraq on the verge of a big boom.”
______________________________________________________________
Loop (Dinar Guru) – Article: “Head of the IMF mission’s (term) interest peg to the dollar rather than a large reduction of the Iraqi economy” The head of the IMF mission in Iraq is answering questions. THe IMF is saying that to decrease the value of the dinar against the dollar would only lead to inflation and that the CBI has the needed reserves to support the economy. [we certainly dont want it devalued any more.] It won’t. THere is no reason for it. Their economy is expanding so why on earth would the throw it into reverse? Just like I do not think a float is going to happen. They also are saying that there is no issue with the debt that they have taken on to support the country as long as the follow the process as outlined in the SBA.
____________________________________________________________
BGG (Dinar Guru) – The BIGGEST article of the day… “Director of the Issuance Department of the Central Bank: Printed currency volume exceeds 11 billion and 600 million dinars” (the title is a little weak for the content of the article)…the title should have read RV- RV- RV!! Quote: “Most of the Iraqi Central Bank steps are subject to political and legal environment of the country, especially in regard to the deletion of zeros…” …this is what you are after – EXACTLY. PERIOD. it’s isn’t a removing of the 000 from the notes…it isn’t a changing of the DECIMAL POINT…it isn’t a change in the nominal value…IT’S A CHANGING OF THE REAL VALUE and A BRINGING IN OF THE BIG NOTES… “…deleting the big 000 notes from the market place” = RV. [post 1 of 2….stay tuned]
______________________________________________________________
BGG (Dinar Guru) – …they have no intent on bringing out any bigger note classes – THEY DON’T NEED IT… value is going the other way…nowhere in there does it mention Article 140 – HCL – or anything else… nor does it bother to mention any laws needing passed… just a few changes. (aka – AMENDMENTS) [Also key phrase is “where it should be FOLLOWED by” Meaning the laws should be changed AFTER.] BINGO! money first – laws AFTER! why? They need to get this done now! This is about as much heads up as they are willing to give anyone…if they change the laws ahead of time – EVERYONE WILL KNOW. BIGGEST PIECE YET…here it comes… “On the other hand, the technical preparations are underway by us.” Meaning – on the other side of everything he’s said so far… they are and have been already making technical preparations (by the CBI). Pretty plain – if you ask me…pretty huge news... [post 2 of 2]
______________________________________________________________
______________________________________________________________
MadDScout (Dinar Guru) – Article: “Rasheed Bank directs its branches to open documentary credits to public and private sector companies” Another way of getting business used to the banks. There is gobs of banking reform news out there. ...it has not always been this way. These are the many gears that are turning So to ask about hold ups is to not have a good grasp on what this whole situation encompasses.
______________________________________________________________
Delta (Dinar Guru) – MASTERCARD SHOWING IQD NOW. 1 IQD = 0.000888 USD. ANOTHER ONE IS SHOWING NOW BLOOMBERG…COME ON CBI JUST DO IT.
______________________________________________________________
MadDScout (Dinar Guru) – [As we look for signals of a rate change coming, are there any similarities we can find with other countries who have been through this?] …I would say this is a very unique situation, as compared with other countries situations, and as BGG put’s it, “there is no actionable intel”.
______________________________________________________________
Eat Well – Lose Weight!!
______________________________________________________________
Director of the Issuance Department of the Central Bank: Printed currency volume exceeds 11 billion and 600 million dinars
Most of the Iraqi Central Bank steps are subject to political and legal environment of the country , especially in regard to the deletion of zeros that counted specialists in the earlier trend sensitive and dangerous may still be , but the central remains the most important institution in terms of the need to adjust the financial management in light of the financial crisis experienced by the the Iraqi economy, which must have to deal with dilemmas , whether with regard to the citizen or the work of the central bank itself.
Read more: http://www.dinarupdates.com/blog/
_____________________________________________________________
1bobby (Dinar Guru) – Article: “Office: Abadi agreed with the delegation of the Kurdistan Region to remove obstacles that prevented the activation of Article 140” The infamous Art 140 is in the Constitution, just not activated and or implemented. Now 140 does not cover all of Iraq, just Kirkuk and the disputed territories, Kikuk being ground zero. With Abadi agreeing to remove all obstacles to implement 140 is a HUGE step forward and something the Kurds can work with. Now while there are numerous cities/districts covered under 140, Kirkuk is the main concern. Kirkuk sits atop one of the largest oil reserves in Iraq, most reports estimate over 40 billion barrels of oil. …If Abadi is willing to remove the obstacles, then the Kurds will control Kirkuk. This action does not require a Parliamentary vote since it’s already in the Constitution. What Baghdad wants is what the constitution states “All oil within Iraq belongs to all Iraqi’s“…So if the Kurds get what they want, Baghdad will want all oil proceeds to flow thru Baghdad and then %’s will be distributed accordingly. We’ll just have to let this play out and see what they do, not what they say.
______________________________________________________________
MadDScout (Dinar Guru) – [What’s left before NEEDED to be taken off programmed rate?] Answer: That is what we are watching for. But from CBI (Alak’s) view, they are looking for stability…social, political, economic, security, take your pick as to how much of each of those goes into the criterion they are looking toward.
______________________________________________________________
Kaperoni (Dinar Guru) – Article: “The call for legislation of “important” laws before the end of the parliamentary session” Quotes: “The oil and gas laws, the Reconstruction Council, the Federal Service Council and the Federal Court Act, as well as the amending law of the amnesty law, are among the most outstanding laws that should be resolved as soon as possible,” the bloc said in a statement.” “noting that “the need to resolve to see the light soon.” …the only wildcard is if the US, UN etc get involved. We have seen in the past when something must be passed, it is done so with a little pressure. If the doors are ready to open, be assured what law or laws need to be passed will get done.
______________________________________________________________
Iraqi Dinar/Dollar auction 04-26-17 (most recent listing)
Currency Auctions Announcement No. 3430
This daily currency auction was held in the Central Bank of Iraq on the 04-25-2017
The results were as follows:
| DETAILS | NOTES |
| Number of banks | 37 |
| Number of remittance companies | 11 |
| Auction price selling dinar / US$ | —– |
| Auction price buying dinar / US$ | —– |
| Amount sold at auction price (US$) | 145,551,728 |
| Amount purchased at Auction price (US$) | —– |
| Total offers for buying (US$) | 145,551,728 |
| Total offers for selling (US$) | —– |
More: http://dinarupdates.com/blog/
______________________________________________________________
MadDScout (Dinar Guru) – [We have always heard when article 140 and HCL are put into place and activated we should see the rate within hours of implementation. We know Mosul is a key part. Can they implement HCL and Article 140 on a program rate?] Answer: That theory is old and unfounded, and tends to put events in the wrong order, according to what we know right now. Being as this is never mentioned in any of Alaks statements when asked about what the CBI needs to make full monetary reforms, I have put it out of my vocabulary. As to the third part of your question, can they implement 140 at program rate, I think it is so far in the future (Art140) they will have a “rate” by then. But IMO one doesn’t equal the other. They are stand alone issues, unhinged one from another. Rate is only important to us.
______________________________________________________________
Kaperoni (Dinar Guru) – Article: “Abadi: Two months separating Iraq’s exit from Chapter VII” [It would seem that Iraq’s removal of Chapter 7 would occur before the dinar becomes marketable and begins to float…] …though it’s important for Iraq to have it’s own currency once sovereign, I do not think they are directly related. When the dinar floats is a more of a decision of the CBI based on monetary policy. IMO, I do not expect it to begin until just before foreign investment begins to pour into Iraq.
______________________________________________________________
You must be logged in to post a comment.