The Iraqi Dinar Has Revalued!! But ....
An economist expects an imminent decline in the dollar: these indicators!
Today, Friday, the economic expert, Mustafa Hantoush, predicted an imminent decline in the exchange rates of the dollar against the Iraqi dinar in the parallel market, after the increase in central bank sales.
Hantoush said in a statement to “ Al-Jarida ”, that “the increase in sales of the central bank is a sign of the imminent decline in exchange rates of the dollar against the Iraqi dinar in the parallel market,” noting that “two weeks ago, the sales of the Central Bank of Iraq rose above the level of 150 million dollars per day.”
He added, “This is due to the reason why merchants adapt to the requirements of the purchase invoice for each small merchant in his name to complete the import process through the (filter) platform that the federal imposed on foreign transfers, although this analysis is based on the sales of the Central Bank of Iraq, of which the platform may reject (20%) _30% ) And with this rejection, sales remain high compared to two weeks ago.
Hantoush pointed out that “the new culture of the Filter platform began to spread and adapt among merchants, so the Iraqi market may be facing a decrease in demand for the parallel market for the dollar from small merchants, so we may be facing a decrease in the price of the dollar in the parallel market, either in the middle of Ramadan or after the Eid period.” “There remains only the problem of demand for black money transfers (money laundering – import from Iran and Syria).”
The Iraqi parliament will vote tomorrow on the election law and prepare for the procedures for passing the budget
The Iraqi parliament has set tomorrow, Saturday, a date for holding a new session to vote on the country's election law, explaining that the parliamentary finance is working to quickly complete the procedures for passing the three-year draft budget.
And the media department of the Iraqi parliament stated - according to Al-Ikhbariya TV, today, Friday - that the session will also include voting on the third amendment to the provincial elections, adding that the vote will be made on the extent of the parliament's conviction with the answers of the Board of Trustees of the Iraqi Media Network.
The department indicated that the Parliament's Finance Committee is determined to finalize the budget quickly, stressing that it will be included on the parliament's agenda in the upcoming sessions.
Sudanese calls for the House of Representatives to resolve the budget law
The Prime Minister, Muhammad Shia'a Al-Sudani, stressed the need for the House of Representatives to expedite the approval of the budget law.
A statement by the National Approach Alliance office stated, "The Secretary-General of the National Approach Alliance, Abdul Sada al-Fariji, received Prime Minister Muhammad Shia' al-Sudani to discuss the latest developments in the country."
The statement added, "The meeting witnessed, after the exchange of congratulations on the occasion of the holy month of Ramadan, the discussion of the results achieved from the Prime Minister's recent visit to Turkey, especially the files of border security and water, and the initiation of serious steps to activate the vital development road project."
Al-Sudani and Al-Fariji stressed, "The need for the House of Representatives to expedite the approval of the general budget law to achieve the aspirations of citizens, implement projects, and raise the level of services in all governorates of the country."
During the meeting, Al-Fariji renewed the National Approach Alliance's support for "the government in implementing the paragraphs of the government program, which leads to stabilizing the pillars of stability at all levels, especially political, economic and security, and continuing the war against corruption."
Iraq to Contain the Kurdish Opposition and Pay Its Debts to Iran in Emirati Dirhams
After Iran and Iraq signed an agreement March 19 to improve border security cooperation, the English-language coverage of the news mostly focused on Iran’s armed Kurdish opposition, which has launched attacks on Iranian territory from its bases in Iraq’s Kurdistan region. While this angle also dominated the coverage of the agreement in Iran’s state-censored media, there was also mention of the triangular economic coordination among Iran, Iraq, and the United Arab Emirates: Iraq will begin paying for its debts and imports from Iran in Emirati dirhams, which Iran will use, as an alternative to the U.S. dollar, to secure imports.
- March 17: Mashregh News reported that Admiral Ali Shamkhani, secretary of Iran’s Supreme National Security Council, planned to visit Baghdad to discuss security cooperation between Iran and Iraq.
- March 19: Nour News, a mouthpiece of the Supreme National Security Council, reported that the governor of the Central Bank of Iran, Foreign Ministry economic affairs director, and Foreign Ministry Persian Gulf director would all join the Shamkhani-led delegation to Baghdad.
- March 19: Fars News’ coverage of Shamkhani’s visit to Baghdad focused on the security threats to Iranian territory: “Iran and Iraq signed a security agreement … which will reduce and manage undesired security challenges emanating from the villainy of the counterrevolution present in the Iraqi Kurdistan region … According to the security agencies of the Islamic Republic, elements of the Zionist regime have engaged in operations in Iran in coordination and cooperation with counterrevolutionary groups present in Iraqi Kurdistan.”
- March 20: Ali-Reza Enayati, deputy foreign minister and Foreign Ministry Persian Gulf director, explained the purpose of the Shamkhani-led delegation’s visit to Iraq in an interview with the Iranian Students’ News Agency: “The signed security agreement shows the mutual interests of both countries. We have always emphasized that Iraq’s security is also our security, and vice versa. The latest agreement is mostly about our shared borders, so there are not threats against us, and our Iraqi brethren too have always said, according to the Iraqi Constitution, Iraqi soil should not serve as a platform to attack neighboring countries.”
- March 20: The Iran Student Correspondents Association, quoting Shamkhani, reported: “The agreement signed has several dimensions. Both countries will follow a specific plan to bereave counterrevolutionary groups of the opportunity to engage in activities against Iran from the Iraqi Kurdistan region.” Turning to the economic dimension of the visit, which includes Iran’s cooperation with the United Arab Emirates: “We have taken steps to facilitate new means for Iraq to pay its debts to Iran” in Emirati dirhams, which the Iranian government can provide to “Iranian merchants to pay for importing basic goods to Iran.”
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When will the dollar collapse? ... an expert explains
link this is in Iraq's news
The economist Alexander Nazarov conducted a reading of the current situation in the global economy, especially in light of the crisis affecting banks in the United States and Europe, which coincides with efforts to curb inflation.
Expert Nazarov spoke, in a post on his channel on the “Telegram” application, about the factors that will contribute to the collapse of the US currency in the coming years, based on the current economic reality, and pointed to factors such as hyperinflation, large-scale sanctions or a war with China, and a civil war in the United States. .
He said, "I think that political turmoil could start an American civil war in 2024 or 2025, and we are already witnessing what is happening around Trump. The civil war will lead to the collapse of the American economy, causing hyperinflation and destroying the dollar. In addition, the sanctions are widespread or A war with China will greatly reduce the supply of Chinese goods to the world market and the dollar's trading space."
He added, “I think this should happen in 2025-2027, and this will lead to global hyperinflation and the destruction of the dollar. The current banking crisis is not over yet. If Western banks fall from the top ten, the magnitude of the shock will force the Federal Reserve to pump not trillions, but It's tens of trillions of dollars unsecured."
The expert also talked about digital currencies undermining the position of the US currency in global trade, and said: “This could happen in the year 2024 and lead to hyperinflation. Russia will introduce the digital ruble in the coming months, and China will also introduce the digital yuan, and this fashion is spreading and soon.” A large part of global trade will be conducted in digital currencies rather than dollars.
"In a year or two, especially if Saudi Arabia converts oil payments into yuan, the dollar area will shrink and the amount of unsecured dollars will lead to hyperinflation," he continued.
As another indicator of the risks surrounding the US currency, the expert referred to the US public debt, and said in this regard: "This year or any year to come, the United States may default on its debt. This will be a giant shock to the global economy and destroy the dollar."
The expert concluded in his publication that "by 2027 the dollar will certainly not cease to exist, but it will cease to be a global currency, and most likely there will be hyperinflation in the dollar zone."
The expert pointed out that his comment included the factors that may lead to the collapse of the US currency, but it is not necessary that all or one of them be achieved.
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