The puppet Biden is about to be replaced!
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July 18, 2024
Hi Everyone,
I have some news for you today !!!
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Going on over 10 years now, I have taken my own time to research and document findings about the revaluation and reinstatement of the Iraqi dinar. At this time more than ever I do not need to be doing this. I do it out of charity and love with understanding that all of us do NOT have the time to go do our own research. We are busy with our jobs, our daily lives and raising our children. So, I try to help out. But remember I too am very busy in my daily life too. I am no different, yet I take the time out each day to complete the task of research and composing my newsletter for you. This Newsletter will not survive without your ongoing support. There are more than 20,000 followers and readers on my blog. Why do the same handful only help out? Do the rest not want or care about the news I bring?
I feel we have been in a critical period of the currency reform program since January of last year 2023. Now we are in a “vital” period. Like a game of chess, we are now in a waiting mode for the Central Bank to make their next move and rollout the second-rate change in-country to just over a dollar, that we were told is coming. Since they told us they now control the parallel “black” market, and that negotiations were successful in lifting sanctions on many Iraqi banks.
Did you happen to miss the last couple Newsletters? Click here to go to Mnt Goat Archives.
You can see the entire Mnt Goat Newsletter Blog HERE. There is much more amazing news and RV information than just the bi-weekly newsletter.
As you might remember each month, I started compiling a list of the newest events we have witnessed during a period of time. I wanted to continue this effort also for each month. So, below is this list of major achievements for Iraq in the Pillars of Financial Reform as in the White Paper and regaining their nation sovereignty.
We have chalked up yet twenty two (22) more major events in Iraq just for this period of late May and June alone so far. Are you listening? Are you taking note? Have we EVER seen such amazing progress towards the reform efforts? If you want to take a look at the entire list of events, please click on the LINK HERE to get to this blog page. It all started here.
2 Corinthians 9:8
And God is able to bless you abundantly, so that in all things at all times, having all that you need, you will abound in every good work.
As you might remember each month, I started compiling a list of the newest events we have witnessed during a period of time. I wanted to continue this effort also for the month of July. So, below is this list of major achievements for Iraq in the Pillars of Financial Reform as in the White Paper and regaining their nation sovereignty.
So, as we are close to ending July already, yes already. In May’s news the CBI told us they were moving into the “second phase of banking reforms”. In June’s news it is all mostly about these new banking reforms and the application of them. Then they told us about a “3rd phase” to their overall strategic plan of reforms. This 3rd phase was supposed to kickoff in or around mid-June with the Project to Delete the Zeros, but we have not yet seen this happen.
So, today we chalk up yet thirty five (35) more major events (see below) just for this period of late June into July so far. Are you listening? Are you taking note? Things are moving rapidly now.
If you want to take a look at the previous list of events for previous months we have never seen such progress, please click on the LINK HERE to get to this blog page to read all the other events since December 2022. It all started here in December 2022.
More news….
GOOD NEWS ABOUT THE DOLLAR.. A GOVERNMENT SOURCE TO “AL JARIDA”: THE EXCHANGE RATE IS HEADING TOWARDS IMPROVEMENT AND STABILITY
Today, Wednesday, the “ Jarida” platform learnedthat a company will soon be working to audit remittances for foreign currencies other than the dollar, in addition to restricting the sale of cash dollars exclusively through airports, which will lead to “improving and stabilizing the dollar,” according to an informed government source.
The source, who refused to reveal his name, told Al Jarida that “the exchange rate situation is improving and stabilizing, especially after choosing a company to audit transfers for foreign currencies other than the dollar, and work on transfers of those currencies will resume very soon, in addition to organizing and controlling the sale of cash dollars exclusively through airports.”
STATUS OF THE RV
You may think I am too proud but I have to say it is easy to defy this craziness that is going on in the dinar investment over the RV information. Really now, just how ignorant can people get! Is this a guessing game or a FACTUAL reporting of the truth of what is actually happening in Iraq?
So, we just experienced two more foolish episodes of TNT Tony follies.
First the watching and waiting for the budget to come out with the RV rate. Then when it does comes out and there is no RV rate in it (as I said there never would be) the jerk moves on to watch the budget schedules, thinking it will have the RV rate. It also didn’t. As why in hell would it. Next he had to move to another speculative target so he picks the accession session in Genva with the WTO. He targets this for the RV date having all his little pie-piper followers watching and anticipating. What happens? The meeting is held and no RV. Of course not, as this was NOT the final meeting but a review of the progress with recommendations. There was NEVER any big announcement planned. Again just more craziness and stupidity. So they move on to yet another target and everyone is now watching waiting as they have done every weekend for the last 10 years. There are no FACTS to back their intel only events and speculation. This is not a good way to live and I feel sorry for all these idiots.
So let’s get to some FACTUAL information as I do not have to make up lies to pretend to be a egocentric “know-it-all”. All I have to do is follow the news and report on it. This is all I have been doing and will continue to do.
So recently someone finally published a video from Iraqi TV explaining the dinar swap out and in part how it will work. So, this is FACTUAL information as we can watch and interpret the video and see it is real. I have included the video below. Please take some time to watch it. I have already confirmed with my CBI contact that this is one of the videos produced from her team to coordinate the Project to Delete the Zeros. I was also told there is coming yet another similar video that actually shows the newer lower denominations in more detail. I was told the CBI does not want to publish pictures of these new notes yet due to caution that someone might try to counterfeit them ahead of the process. They will have security features in them that make them nearly impossible to duplicate, however they always try their best to duplicate them anyhow. Even though all the features may not be present, citizens do not know this unless they are educated to check them. This is why the education process of the newer notes will be very important. So the education process has begun and we need to relax and just let it progress at the pace as designated by the CBI.
Below is the video and the information that comes up in the closed captions of the video if you turn on the English captions option on with your laptop or desktop PC. You may not get the closed captions on your cell phone.
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I quote from the video: “The project to delete zeros from the currency is still in place,” this was confirmed by the Governor of the Central Bank, Ali Al-Alaq, in his latest statements about the project to delete three zeros from the Iraqi dinar”. – “The policy of deleting zeros from the currency means, for example, that the value of a one-thousand note is 1,000 dinars, and will be replaced by a note worth one dinar of the new currency”. They go on to give more examples bla,,,bla,,,bla.
“Iraq is not the only country that resorts to the policy of deleting zeros from the currency, but there are seventy-70 cases that the world has witnessed since the year one thousand nine hundred and sixty 1960, including
Türkiye: Deleted six zeros from its currency in 2005
Zimbabwe: deleted twelve 12 zeros from its currency in 2009 (also did it again in 2016).
And Venezuela: Five zeros were deleted in 2018”
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Significance on the use of the ATMs to the “Project to Delete the Zeros”:
Another topic that many are still skeptical on is the significance of the Automated Teller Machines (ATMs) in Iraq. So I researched through my archives of articles to find the article to prove my point about the ATMs and their significance. Remember just recently we read two more articles about these ATMs and how they were installing thousands more of them through the Rafidian Bank, which is a government owned part of the Central Bank. If you still don’t believe me that the ATMs are VERY significant after reading this article then I can’t help you anymore. But why would they even mention the Project to Delete the Zeros in the same breath (article) and also talk about the project if they were not interconnected in some way. Can you figure out how they are connected? Can you let me explain to you what my CBI contact told me on my Wednesday call to Iraq?
So first go read the full article below:
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Rafidain Bank in Dhi Qar confirms that the introduction of ATM depends on the currency
December 10, 2014
Said the director of the Rafidain Bank in Dhi Qar Hussein Abbadi in a televised interview broadcast by the local Nasiriyah that the introduction of ATM in the markets and banks ARE SUBJECT TO THE IMPLEMENTATION OF THE DECISION TO DELETE ZEROS FROM THE IRAQI CURRENCY, pointing out that the Iraqi currency suffers from large inflation at the present time.
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Let me now explain in more detail. I included this article that told us that the Automated Teller Machines (ATMS) in Iraq were part of the project to delete the zeros and were only supposed to be turned on when the project occurred. This of course did happen as they are turned them on with the 250, 500 and 1000 notes being now dispensed from them. This was in 2014. Oh…did you read that they already started the project to delete the zeros? Yes, they did in 2014 but remember it was put on-hold due to ISIS over running the country at this time. They have not yet moved to the next phase, the phase of the project we want to see. Get it? But this is still a very good sign to us and shows they are serious about doing the project and the importance of the ATMs.
We must remember that the paper currency is not going away and the CBI told us they are not going solely to a digital currency but rather trying to catch up the wester society in merchant electronic payments (debit cards) and electronic payments of salaries and benefits. The goals is just like in the U.S. the government sends your social security payment to your preferred bank account or your employer sends you payroll (minus taxes) to you preferred bank account. This makes it hard for the citizens to stash large amounts of cash at home, thus taking it out of circulation. Remember they told us that nearly 80% of the cash is stashed in people’s homes in Iraq. The banks need this cash for liquidity to loan out. So, when they do finally receive in all this cash, as part of the currency swap out, they don’t want to repeat this hoarding and stashing of money again outside of the banking system. Thus, the ATMs will allow for more control of money as daily limits will make it harder to get cash to stash. The ATMs will be the vehicle for this purpose and take the load off the banks with personal walk-ins which also can be subject to criminal activities and corruption. This way its all electronic and not much personal intervention. But to make this successful they needed to get these ATMs setup and dispersed. We read this is now taking place. Its all good news but I just wanted to explain today in more detail why I keep saying this to you. Yes, I would consider this “WOW!” news.
So, what is the newest news from Iraq?
😊 On Wednesday, the Deputy Prime Minister and Minister of Foreign Affairs, Fuad Hussein, visited Washington DC and met with the US Treasury Department, for issues related to monetary policy and banking. Mainly it was all about the 32 banks not allowed to deal with US dollars and easing of these sanctions on them. The Central Bank feels that if the US would only let them do the reforms their way, according to their plan they can ease the tensions with the dollar and finally raise the value of the dinar. But does the US really want this to happen. Many Iraqi economist are skeptical in the sincerity of this current US administration. The results of this meeting this week have not yet been revealed but I am sure they will come out soon. If these talks are successful, this could play major role in getting the parallel market rate very close, if not equal to the official CBI rate in the coming weeks.
Also more in the issue with the dollar were revealed by Economic expert, Munir Al-Abidi on Tuesday who told us there is a large volume of trade between Iraq and Iran, while indicating that the dollar problem in Iraq is not due to official trade as the article told us and I quote – “Our official trade for the private sector does not exceed 3 billion dollars with Iran and does not exceed 300 million dollars with Syria,” stressing that “the problem with the dollar is not the official trade with Iran and Syria.”
He then pointed out that “the problem of the demand for dollars in the local market is to cover the needs of other types of informal and illegal trade, most notably drugs,” stressing that “all this fuss, crying and wailing in the channels is to reopen the money channels for this trade.” Can you see the corruption? Yes, Iraq has an illegal drug issue just like in the US. Do you see the problems this causes for society?
RADICAL CHANGE IS HAPPENING:
😊There is a VERY GOOD article in today’s Article Section that talks about the efforts and measures taken by the government and the Central Bank to implement what is stated in the government program of the government of the Sudanese Prime Minister. It is titled “PROPOSED VISION TO ACTIVATE THE GOVERNMENT AND CENTRAL BANK PROCEDURES IN ECONOMIC AND BANKING REFORM”. Please take some time to read it in detail as it will allow you to understand in part why we have waiting so long for the RV to happen. It’s not rocket science to understand why. They tell us without achieving comprehensive and radical economic reform that begins with financial and banking reform, the government’s complete goals and visions cannot be achieved. What are these goals and vision? They are all spelled out in the White Paper plan. Therefore, the government program, as the author sees it, is a four-year strategy to achieve the revolution of economic, financial and banking reform. Where are they in this four year plan? Will it really take four years?
This article analyzes the past administrations in their efforts or lack of performance in their efforts for the needed reforms to move Iraq ahead compared to the Sudanese administration, which is the ninth government after the change in 2003 from Saddam Hussien. Sudanese has been in charge for only approximately one year and eight months and his progress amounts to much more that all the other administrations combined. Really? Yes, really! From the article you can see that things have changed drastically for Iraq and they are now moving aggressively ahead. But we must also remember all the wasted years that they could have conducted the reforms and didn’t. We must ask why not? Why were all these years wasted?
Yet another VERY GOOD article in our Articles Section today titled ‘MINISTER OF TRADE: ALL COUNTRIES ARE KEEN ON IRAQ’S RETURN AS A GLOBAL ECONOMIC PLAYER”. Just in the title alone gives us assurances that the atmosphere in Iraq under the Sudanese government has changed. It was reported that the Minister of Trade Athir Dawood Al-Ghariri confirmed on Friday, yesterday and I quote – “that negotiations for Iraq’s accession to the World Trade Organization are proceeding at a rapid pace, while indicating that all countries are keen on Iraq’s return as a global economic player.” So, does this article sound like it will be much longer before Iraq’s accession takes place. But just not yet. Can Iraq really come back as a super power in the global markets without a currency globally traded? I don’t think so. But the important part is not really what you and I think but what the plan is for Iraq. We must stick to FACTS. Again no rumors just the FACTS. Go to the White Paper and see what the plan calls for. Yes, it does call for the reinstatement back on FOREX but only as a byproduct of the reforms being implemented. Yes, they must work on the Pillars of Financial Reform.
I know, I know you are asking and thinking now in your head – when is the end Mnt Goat? When enough is enough of reforms to finally conduct the Project to Delete the Zeros and then to Reinstate to FOREX?
The problem with asking this questions is I don’t think anyone, even the CBI knows. The only criteria, if you really want to know, is to go read the White Paper as it outlines what must be done to achieve the end result. Remember Iraq does not look at it the way we do. We really only care about going to the bank and exchanging. But rather in Iraq they are rebuilding a nation, getting out of the war time mode of being sanctioned and antiquated banking and financial practices. This is what is really important to them and they know that if they can be successful the rest will fall into place.
😊 yet another article titled “PARLIAMENTARY FINANCE: IRAQ ADOPTS A VISION TO INCREASE ITS RESERVES WITH THE CENTRAL BANK” reveals to us that Iraq is backing their dinar currency with GOLD and a basket of other currencies. What did I tell you? Now what we are looking for is at some point they intend to turn to a new peg and use these other currencies to strengthen the dinar even more and visa versa. Get it? Its coming and this article is telling us of the vision. This vision is also spelled out in the White Paper. Yes, the plan is all there if you care to read it.
A member of the Finance Committee, Mudar Maan, confirmed last Friday that Iraq had increased its balance in what he called a safe haven.
Maan said in an interview with Al-Ma’louma and I quote- “Iraq has adopted a good strategy in diversifying the financial reserves it has in the Central Bank, especially gold, the balance of which has risen according to the latest readings to about 150 tons.“ What more gold? Yes, and now you know why.
He then added and I quote again – “There are three positives to Iraq’s strengthening of its gold balance, the most notable of which is confronting the fluctuations of the international financial markets. It also represents a desirable guarantee in the markets, in addition to strengthening the country’s financial capacity.”
But here is what I really wanted to read and in the article he pointed out that “Iraq is adopting a vision to increase its reserves with the Central Bank, expressing his hope to move to dealing in a diversified basket of currencies and committing to setting sufficient reserves that will make us more capable of facing any financial fluctuations in global markets”.
If this was not enough of “WOW!” news then they told us and I quote –“It is noteworthy that gold reserves in banks affect financial dealings by adding another advantage to the strength of the currency and the economy and the possibility of resorting to them in times of need” WOW! WOW! WOW! Do you get it yet? Do you see it yet? They did not talk about the Sovereign Funds they are putting together either to help invest to pay down debt and fund budget deficits. WOW! again….
What can we investors do to help in the RV situation?
We must now buckle down and pray and pray like never before for the success of Al-Sudani and his agreements with Washington are implemented. You do want the RV don’t you? Pray for Iraq and also the U.S. in that there are strong enough representatives in Congress and the Senate who will stand up and continue to fight to uphold the US Constitution and keep fighting this Washington corruption. Pray that that God’s Hand will intervene and save our great country. Remember you can say the Rosary daily or use the prayers and links I provided from the Auxilium Christianorum for your prayers. Of course there is also your own form of prayer too. Folks your prayers so far ARE WORKING and God has heard our cries. Just look at all the progress made just since December 2022 when Iraq announced they were finally entirely out of Chapter VII. And now in 2024 the spigot is wide open the final issues preventing the reinstatement are being dealt with one by one. Can you see it too. I am trying my best to help you see it. We don’t’ need this foolishness of this speculative crap or everyday / any day garbage intel confusing us. You think this is all just coincidental? God’s Hand is at work here. He has given Iraq his anointed leader Al-Sundani to help in his work. Even I have to sit back in amazement of what he has accomplished so far. Pray for him and all his success. Let see what July brings us.
Their words not mine…..No Rumors, No Hype, No Opinions ,,,,,
Just the FACTS!
Prophet Barry Wunsch brings us news from God:
What has happened recently with the attempts to bring down the former president Donald Trump and his race for the next presidency? What will be the next move of the deep state?
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BRACE YOURSELF FOR WHAT’S COMING IN 2024
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THE RNC BEGINS IN MILWAUKEE, WISCONSIN AS TRUMP ANNOUNCES Ohio Sen. JD Vance AS VP PICK
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Monday July 15th: TRUMP CLASSIFIED DOCUMENTS CASE DISMISSED BY FLORIDA JUDGE
Yet another failed attempt by the crooked democrats to bring down Trump.
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WHY IS JILL BIDEN IN THE OVAL OFFICE AND SITUATION ROOM. IS SHE A MEMBER OF BIDEN’S CABINET OR DOES SHE NEED TO CONTROL HER HUSBAND?
WHAT IS GOING ON HERE?
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SECRET SERVICE BOSS UNDER FIRE FOR ‘SLOPED ROOF’ REMARK.
Congress demands answers for failed security of a prior president and of a candidate for presidency. Does Biden even know who is heading the Secret Service?
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BIDEN COULD DROP OUT OF PRESIDENTAL RACE AS SOON AS THIS WEEKEND
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THE 25TH AMENDMENT IS ON THE TABLE FOR BIDEN AND WILL BE SUPPORTED BY THE HOUSE, SHOULD THE CABINET INVOKE IT.
Remember that even though Joe Biden may drop out of the presidential race soon, there are still over 3 months prior to the election and nearly 5 months remaining of his presidency, if you can even call it a presidency…..
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A SUMMARY OF BIDEN’S FAILURES. THIS IS ‘DEVASTATING NEWS’ FOR BIDEN
He will go down in history as “the” worst president the U.S. has ever had for many reasons. I am not just blaming his health either. It is his warped thinking for America and his support for satanic globalist ideals.
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REMEMBER THE PROPHECY I TOLD YOU ABOUT OVER A YEAR AGO CONCERNING THIS SITUATION OF INVOKING THE 25TH AMENDMENT?…. IS THIS NOW ABOUT TO PLAY OUT?
Timothy Dixon Prophecy:
As the prophecy foretold: Biden will die (how will he die?) and they will try to hide it. They will cover it up. Kamala Harris will get aggressive when she finds out he is dead and want to be president. She is next in line. They deep state will say “no” we need Biden a bit longer.
But he is dead, she will say… I am the president! I am now president! They will try to force her not to talk about it and she will talk and finally expose the entire scam to fake that Biden is still alive. This scam is TREASONOUS and will the be the end to all of them. Of course, I am paraphrasing. In case your forget about this prophecy, you can watch the video of the prophecy by Mr. Dixon yourself. Here it is below.
Will the deep state actually murder Biden to get him out of the race for presidency? Short of him voluntarily leaving or getting the 25th amendment, this may be the case. The prophecy does not say how he dies but unexpectedly, so it could just be a natural death. Heck, he looked half dead at the debate last Thursday….lol… Seems impossible you say? They will do ANYTHING to stay in power. Afterall Joe is old and fragile, it would look like a natural death.
Remember what the prophecy says – in the process of working through the 25th Amendment this will all happen. So, will the cabinet now push the Senate to go for the 25th amendment? Will the pressure after this debate be so great by the public, they will have no choice? Then the prophecy begins…… Let’s watch this saga play out and see what happens.
Part 1:
Part 2:
Note: You may also want to listen carefully to the prophecy by Barry Wunsch today. He also has a bit of information that ties together the Timothy Dixon prophecies on this subject matter. I said WOW! when I made the connection. You may also feel the same. These prophecies often work in tandem as God givens insight to many of his prophets on the same subject matter.
I also want to note again Biden must be gone prior to getting the RV. He is not going to release permission for Iraq to reinstate the dinar while he is in office. But please don’t go off half-co*cked again and think this is the only problem holding up the RV. There are others. But getting the US Treasury to constructively help them would be a huge step.
FRUSTRATING RESULTS FROM IRAQI FOREIGN MINISTER’S MEETING WITH US TREASURY REGARDING PRESSURES ON THE CENTRAL BANK
Academic and political researcher, Alaa Mustafa, commented today, Wednesday, on the visit of Deputy Prime Minister and Minister of Foreign Affairs, Fuad Hussein, to Washington and the meeting with the US Treasury Department, in which issues related to monetary policy and banking signs were discussed.
Mustafa told Al-Jaridathat “the relationship between the visit and the US Federal Reserve’s pressure on the Central Bank of Iraq was not revealed by the Iraqi Foreign Ministry or the government until the minister traveled and met with the US Treasury, and from there he stated what confirms that his trip has a relationship with easing the pressure on Iraq.”
Mustafa believed that “the visit will not change anything, and that the US Federal Reserve is proceeding with its conditions and that the Central Bank is committed to implementation, and that the Central Bank’s commitment is excessive, and this excess has reached the point of the Central Bank completely losing its identity in response to the Federal Reserve’s pressures, and this response has greatly affected the Iraqi markets and has frozen the private banks completely, and has also affected the exchange offices and transferred all remittances and dollars to Arab banks, which has benefited them and revived them in exchange for freezing the Iraqi banks, and the matter is proceeding and no specific change is looming on the horizon.”
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THIS IS THE VOLUME OF OUR TRADE WITH IRAN.. AN ECONOMIST REVEALS THE REASONS FOR THE DOLLAR PROBLEM INSIDE IRAQ
Economic expert, Munir Al-Abidi, revealed today, Tuesday (July 16, 2024), the volume of trade between Iraq and Iran, while indicating that the dollar problem in Iraq is not due to official trade.
Al-Obaidi said in a clarification he published on Facebook, which was followed by “Baghdad Today”, “The Iranians say that our trade with Iraq during three months amounts to 3 billion dollars, distributed as 1.2 billion to meet the need for gas, 700 million dollars for electricity, while 200 dollars are for food, and another 200 million for iron trade.”
He added, “This means that the value of food and iron during the year amounts to only 1.5 billion dollars annually,” indicating that “some say that our trade with Iran amounts to 12 or 14 billion dollars, which is the reason for the dollar crisis.”
Al-Obaidi said, “Our official trade for the private sector does not exceed 3 billion dollars with Iran and does not exceed 300 million dollars with Syria,” stressing that “the problem with the dollar is not the official trade with Iran and Syria.”
He pointed out that “the problem of the demand for dollars in the local market is to cover the needs of other types of informal and illegal trade, most notably drugs,” stressing that “all this fuss, crying and wailing in the channels is to reopen the money channels for this trade.”
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PROPOSED VISION TO ACTIVATE THE GOVERNMENT AND CENTRAL BANK PROCEDURES IN ECONOMIC AND BANKING REFORM
By analyzing the efforts and measures taken by the government and the Central Bank to implement what is stated in the government program of the government of the Sudanese Prime Minister, which is the ninth government after the change in 2003, and which has been in charge for approximately one year and eight months, and which has been able to achieve an acceptable percentage of the specified goals in the field of economic, financial and banking reform, and which included many economic sectors and fields that occupied almost most of the axes of the government program, but without achieving comprehensive and radical economic reform that begins with financial and banking reform, the government’s complete goals and visions cannot be achieved. Therefore, the government program, as I see it, is a four-year strategy to achieve the revolution of economic, financial and banking reform.
(Mnt Goat: this sounds like the 3rd phase of their strategic plan for economic reform.)
The reason for launching this strategy is “because Iraq, after 20 years of economic failures, mismanagement, and mismanagement of public funds due to administrative and financial corruption, the loss of a sound economic approach, political conflicts, and instability in the business environment, has led to reliance on oil as a primary source of revenues from the general budget, which constitutes approximately 93% of the total resources and approximately 60% of the gross domestic product, and the failure to activate the productive sectors that generate national income.”
Which led to “a blurred vision and lack of clarity in the decisions of the reform process of previous governments, except for some achievements made by the Central Bank of Iraq during the past years, in which it overcame the challenges of monetary policy at rates that enabled it to maintain the stability of the dinar exchange rate during the previous years despite the economic crises and challenges. Unfortunately, the fluctuation in exchange rates returned after the amendments made to the official exchange rate in 2020 and 2023 for many reasons, most notably the lack of control over financing foreign trade, non-compliance with international banking standards, the presence of unofficial border crossings, illegal inter-trade, and speculators in the foreign exchange market and their access to cash dollars allocated to travelers, which constitutes less than 10% of the supply for foreign transfers.
However, the Central Bank was able to build excellent foreign exchange reserves and maintain the general level of prices and the annual inflation rate at around 4% after it was 7.5% at the beginning of 2023.
This confirms that the government and the Central Bank reviewed previous reform policies in 2023 through diagnosis and analysis and concluded that economic problems are the cause of most of Iraq’s crises and that “the real solution to Iraq’s crises is to work with a comprehensive change approach. I mean here drawing a strategic and executive roadmap to activate the procedures for economic, financial, banking, administrative and legislative reforms by adopting radical change for the coming years while benefiting from the experience of institutions and experts in the government and the private sector in confronting crises and activating the reform procedures of the government and the Central Bank, and according to the proposed vision that I put before the eyes of the Prime Minister, the Governor of the Central Bank and the Ministerial Council for the Economy, as follows:
First – Starting a systematic movement to draw a roadmap for economic, administrative and legal reform carried out by the Iraqi elites and economic, financial and banking competencies (government and private sector) by establishing the Supreme Economic Council, with the private sector in all economic sectors as a member thereof, and the private banking sector as a basic member of its membership as the financing and investment sector that must contribute to sustainable development. The reform movement should be based on several important economic pillars that adopt a new methodology for managing the economy and achieving the central goal of moving the economy from rentier to productive and from cash to digital, and activating the non-oil productive sectors to reach 30% of the general budget revenues in 2026, creating sustainable development, achieving diversity in resources, and developing economic and human structures for the sound construction of the national economy and building the preliminaries for the transition to a social market economy, provided that its recommendations, after approval by the Council of Ministers, are binding for implementation by the ministries, agencies and relevant bodies.
Second: Forming a (Central Follow-up Committee) linked to the Prime Minister’s Office to follow up on the implementation of decisions and has the authority to monitor and evaluate. It is formed under the chairmanship of the Prime Minister and includes a group of government advisors and experts and private sector experts.
Thirdly – Moving to central management of the economy so that the principle of (central planning and decentralization of implementation) is implemented. This means that the Supreme Council of the Economy will undertake the drawing up of plans and policies centrally and distribute their implementation to the ministries and specialized bodies within the government structure after approval by the Council of Ministers.
Fourth: Providing soft loans to finance small, medium and large projects in accordance with the national lending strategy recently launched by the Central Bank, and establishing a legal and institutional system to manage, develop and advance them, and issuing a special law for them. As well as issuing and amending the laws of the legal environment to regulate the economic process, which means issuing new laws instead of the laws issued in 2004, due to the changes that have occurred in the national economy during the past two decades.
Fifth: Activating investment in the agricultural, industrial, energy, tourism, services and housing sectors, as well as working to reform, develop and grow the banking sector through monetary policy applications and regulating the relationship and restrictions governing financial and monetary policies, in addition to the serious trend towards reforming the tax, financial and customs system. Addressing cases of failure to achieve the required growth rates in national income and overcoming the rise in unemployment and poverty rates.
Sixth: Developing a new methodology to overcome the challenges of instability in the financial and monetary systems. This means developing coordinated and balanced plans to overcome the challenges of monetary policy, the challenges of the deficit in non-oil revenue, and the deficit in the balance of payments and the trade balance.
Seventh: Accelerating the implementation of the e-government program and coordinating it with the electronic payment system, and the procedures for digital transformation in banking transactions, and focusing on activating the procedures of the Central Bank to implement the objectives of its third strategy, and following up on the decisions issued by the government regarding the use of electronic payment in commercial exchanges and banking operations, and establishing the National Company for Electronic Payment, which was announced by the Central Bank.
Eighth – Reviewing the banking market in Iraq towards activating the implementation of government decisions regarding government banks and the decisions of the Central Bank.By classifying private banks, merging them, increasing their capital, and adopting them as solid international banks as correspondent banks, activating and accelerating joint procedures from the US Treasury regarding lifting sanctions and restrictions on the use of the US dollar in international transactions, and activating mechanisms, instructions, and controls for private banks’ commitment to complying with international banking standards.
Ninth: The necessity of having a representative of the private banking sector on the Board of Directors of the Central Bank and forming an advisory council for the Central Bank of experts and consultants working in the private banking sector and academics specializing in monetary policy in universities to study policies and programs and express an opinion on them before referring them to the Board of Directors to take the necessary decisions for implementation.
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IRAQ RESUMES NEGOTIATIONS TO JOIN WTO
Minister of Trade and head of the Iraqi team concerned with joining the World Trade Organization, Athir Dawood Al-Ghariri, announced on Monday the resumption of negotiations to join the World Trade Organization, after a hiatus that lasted more than 16 years.
A statement by the ministry, seen by “Al-Eqtisad News”, quoted the Director General of the Department of Foreign Economic Relations, Riyadh Fakher Al-Hashemi, as saying that “the Iraqi negotiating teams have begun their preparatory meetings at the headquarters of the World Trade Organization in Geneva, in preparation for the third meeting of the working group on Iraq’s accession.” Al-
Hashemi added that “the first preparatory meeting was held at the organization’s headquarters with the Director of the Accession Department and the organization’s experts in goods, services and intellectual property, headed by the Director General of the Department of Economic Relations and the membership of negotiators representing the Iraqi ministries and the Kurdistan Region; to discuss the most important files and documents submitted by Iraq in the previous stage.”
He pointed out that “the third official meeting of the working group, which will be headed by the Minister of Trade representing Iraq, will witness a review of the files and documents completed by the National Committee concerned with accession.”
He continued, “This is the first time that the Iraqi negotiating team has reached this level of experience in the field of negotiation, which reflects the development of their capabilities and efficiency in dealing with complex issues related to WTO membership.”
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MINISTER OF TRADE: ALL COUNTRIES ARE KEEN ON IRAQ’S RETURN AS A GLOBAL ECONOMIC PLAYER
Minister of Trade Athir Dawood Al-Ghariri confirmed today, Friday, that negotiations for Iraq’s accession to the World Trade Organization are proceeding at a rapid pace, while indicating that all countries are keen on Iraq’s return as a global economic player.
Al-Ghariri told the Iraqi News Agency (INA): “The resumption of negotiations for Iraq’s accession to the World Trade Organization is a qualitative event and a testament to what the government promised through its program to reform the economic situation, considering the private sector as an essential part and the backbone of the Iraqi economy.”
He expressed his “aspiration for the fourth round of negotiations to be held during the first quarter of next year,”stressing that “this acceleration means that the negotiations are proceeding very quickly towards Iraq’s accession to the World Trade Organization, considering Iraq an important economic bloc and all countries are keen for Iraq to return as an economic player in a multilateral system.”
For his part, the Saudi Ambassador to the World Trade Organization, Saqr Abdullah Al-Muqbil, told the Iraqi News Agency (INA): “There is a positive view that we will find Iraq joining a multilateral trade system as it is one of the largest economies outside this organization.”
Al-Muqbil stressed that “the Kingdom of Saudi Arabia has a priority to achieve Iraq’s desire to join the organization.”
In turn, the official responsible for Iraq’s accession to the World Trade Organization said: “The member states were happy with the Iraqi delegation, and we hope that the Iraqi delegation has completed this long journey.”
She added: “We seek to see Iraq become a member of the World Trade Organization.” The Minister of Trade and head of the Iraqi team concerned with joining the World Trade Organization, Athir Dawood Al-Ghariri, announced last Monday theresumption of negotiations to join the World Trade Organization, after a hiatus that lasted more than 16 years.
(Again, don’t rush to use ANY event to GUESS when the RV is going to happen. So once again all the idiotic intel gurus fall on their faces. They told you that the RV was going to happen prior to an accession announcement on July 18th. What solid evidence did they have of either event? NONE! Just pure weird speculation.)
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PARLIAMENTARY FINANCE: IRAQ ADOPTS A VISION TO INCREASE ITS RESERVES WITH THE CENTRAL BANK
A member of the Finance Committee, Mudar Maan, confirmed on Friday that Iraq had increased its balance in what he called a safe haven.
Maan said in an interview with Al-Ma’louma, “Iraq has adopted a good strategy in diversifying the financial reserves it has in the Central Bank, especially gold, the balance of which has risen according to the latest readings to about 150 tons. “
He added, “There are three positives to Iraq’s strengthening of its gold balance, the most notable of which is confronting the fluctuations of the international financial markets. It also represents a desirable guarantee in the markets, in addition to strengthening the country’s financial capacity.”
He pointed out that “Iraq is adopting a vision to increase its reserves with the Central Bank, expressing his hope to move to dealing in a diversified basket of currencies and committing to setting sufficient reserves that will make us more capable of facing any financial fluctuations in global markets.
It is noteworthy that gold reserves in banks affect financial dealings by adding another advantage to the strength of the currency and the economy and the possibility of resorting to them in times of need.
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Their words not mine…..No Rumors, No Hype, No Opinions ,,,,,
Just the FACTS!
Disclaimer: All information in this newsletter is not intended for investment decisions / purposes. Mnt Goat is not a financial analyst, planner, banker, attorney or associated in any role with giving out professional investment advice.
God Bless,
Auf Wiedersehen
Much love to ya all,
Mnt Goat
