Mountain Goat

…the 34th Arab Summit held in Baghdad this past Saturday, May 17, 2025…was a pivotal moment in strengthening Iraq’s regional economic role and consolidating its position as one of the most prominent players in shaping the Arab development map, at a time when it has risen to fourth place in the Arab world in terms of gross domestic product by 2025. This is just yet another ride on the RV choo-choo that Iraq took to strengthen its position even more. If later they are going to present a dinar rate much higher than most, if not all middle eastern countries, they better be able to back it up.

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MarkZ

[via PDK]

All I can tell you is a lot of money has been moving and in place according to  paymasters, banks and bond holders. And initiated. We are waiting to see if it is spendable…

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Frank26 (KTFA)

[Iraq boots-on-the-ground report]

FIREFLY: Television says our foreign reserves have fallen to $100 billion from $110 billion…We’ll make that up next month.  But they say we are still very safe and stable with our reserves and secure. 

IMO things are happening and moving very fast.  Has an awful lot to do with Donald Trump…Nothing against Sudani but he was just slow because he’s surrounded by a lot of issues that cause him to think twice…The banks are sharing information in Iraq the same way American banks are now sharing information with us.

This is actually happening.  I know it’s late.  I know it’s a constant delay but it really truly sincerely is happening…The articles keep screaming everything that [Boots on the ground Firefly’s banking friend] Mr Sammy wants to tell us. Mr. Sammy knows d**n well that it’s about to happen…Right now it’s not a guessing game anymore. It is a reality…The whole world is not coming to Iraq because of 1310.  These are exciting time for our investment.  That’s my opinionated fact…  

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Clare (KTFA)

Article:
‘Net foreign assets at the Central Bank of Iraq decreased’

Quote:
‘The bank said…the net foreign assets of the Central Bank for the month of January 2025 amounted to 128.97 trillion dinars, a decrease of 1.41% compared to December of last year, which amounted to 130.180 trillion dinars, and a decrease compared to January of last year, which amounted to 140.77 trillion dinars.’

Article quote:
‘Economic expert Safwan Qusay concluded his remarks by stating that the government is serious about generating revenue from all sectors as part of a future development plan, noting that financial reforms and Syria’s exit from the black market have contributed to reducing pressure on the dollar, predicting that its price will continue to decline to 132,000 dinars per $100.’  

Fnu Lnu

Article quote:
‘A recent audit and monitoring of company practices revealed that some exchange firms have been charging citizens a commission of 50,000 dinars for purchasing dollars, double the amount stipulated by official directives.’

This is exactly what I’m talking about when it comes to honesty in Iraq. They would rather steal a dime instead of earn a dollar. Theft and cheating has become a way of survival in this country, unjustly a*****d and excessively punished. It has been two generations since the Iraqis have known normal and everyone tries to best the system. They are not ready to RI/RV the currency until practices are uniform and legit.

I believe they will make the shift into a value added currency however, I also feel this will come after the Digital transformation has been completed and all ancillary hardware and software has been installed and training completed, and global oil prices have increased. 

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Pimpy

Community comment:
‘If the Iraqi government do something like deleted the zeros and devalue the 25,000 bank note down to 25, IMO this will hurt the trust of Iraqi government because they allowed the sale of the dinar understanding that this was an option in recuperation towards the Iraq government economy.’

The Iraqi people don’t give a s**t if you bought their currency and invested in it.  It doesn’t look bad on them.  The Iraqi government didn’t make any promises about the Iraqi dinar…If you took that gamble, that’s on you.

I would call it a devalue because they’re not devaluing.  All they’re doing is changing the way the bank notes look.  So instead of 25,000 dinar, you now have 25 dinar.  That’s the nominal value.  That’s just the way the note looks…It’s not being devalued, it’s still the same…Right now the exchange rate on 25,000 dinar is .00076…you get $19.  When they delete the 3 zeros off the bank notes…they’re going to take the 3 zeros off the exchange rate.  So now it’s going to be 25 x .76 which comes out to $19.  The value of the dinar stays the same.  The bank note, the nominal value, is the thing that’s going to change.

The more I read about Iraq, the more I read about the reforms taking place in the Iraqi banking system, the more I’m convinced that they’re absolutely positively not going to switch into a paper currency.  No more bank notes.  I think they want to eliminate it all together.  Everything points in that direction.  They’re going to go central bank digital currency.  This is happening all around the world. 

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MilitiaMan

Article quote:
‘We are expecting a strong and robust economy with GDP growth of 5.3%…The giant strategic projects planned through 2028 confirm Iraq is on the verge of a major economic renaissance.’

That is a big increase…

Kaperoni

Though many people feel that they haven’t seen any results,  significant improvements in Iraq include the central bank’s efforts to transition to digital. The two-year plan to integrate the banking system with the global financial system is a critical step.

Source : dinarchronicles

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