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IRAQ DINAR & DONG UPDATE - June 14 2020

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IRAQ DINAR & DONG  UPDATE - June 14 2020 Empty IRAQ DINAR & DONG UPDATE - June 14 2020

Post by Ponee Sun Jun 14, 2020 9:16 pm

Today’s dinar news is all about the ongoing saga of how will Iraq find the necessary funding to pay the June salaries.


The pressure is enormous as simply put; they do not have the oil revenues sufficient to pay these salaries (about 4-5 billion US dollars) for June.
We know the IMF will not lend them the money and the CBI will not use the reserves.

So, over these last weeks we have seen many proposals presented to us.

The CBI did end the currency auctions at the end of May and this we know as a FACT.




So how is Iraq now paying for foreign imports without these auctions?

The finance committee wanted to cut the salaries by 10% and they told us the cabinet wrote a bill to do it.

Then later they came out and told us they would apply the income tax with deductions instead.

They told us they also are going to aggressively implement the customs and tariffs law and go electronic collection system to do so.

But we know this system requires Iraq to be on FOREX since the system uses FOREX in the calculation of the most current rate of foreign currency in order to find the rate and convert it.

So how will they do this without being on FOREX?

We no longer hear much from the Iranian side and any bombings so this is all very good.

Seems what president Trump did to eliminate the leaders has taken its toll on these militias.

But remember they are still there and they do have potential for harm.

This case is not yet over, but just much better.

From the Central Bank we are still hearing all very good news in the effort to go international so Iraq can tap into these secondary markets with investors.

But what will these investors invest in?

So, we see the dilemma again in not having a marketable currency within the global exchanges.

By not having a viable currency this impacts the ability of the ISX investors, to issue more bonds, to pay debts and incentives for investors to want to flock to Iraq.

Oh – but now suddenly we see investors beginning to come in. Why?

I believe they know of the plan to globalize the economy thus have a viable currency and have it very soon.

There is much more going on than the Iraqi news media is telling us.

The CBI is being very sneaky.

I believe we are at the cusp of the end of this long-awaited payoff of our investment.

We know the central bank still has to educate the citizens again and so this will be our sure que as to the status of the “project to delete the zeros”.

Yes, we are moving ahead but we still need a final confirmation.

Will the CBI give it to us soon?



06.14.2020
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