News, Rumors and Opinions Tuesday Afternoon 4-25-2023
KTFA:
Clare: India is the "first destination" for Iraqi oil in April
4/25/2023
India topped the list of countries that buy the most Iraqi oil during the month of April.
According to the research unit of the "Economy News" agency, India imported 23.93 million barrels from Iraq in April, while China ranked second with 19.42 million barrels.
After India and China, South Korea came, with a total import of 5.49 million barrels, followed by America with 5.13 million barrels.
Turkey ranked fifth, with purchases of Iraqi oil amounting to 2.18 million barrels. LINK
Suzie: We're getting all kinds of good news about the rate change coming soon, Iraqis' hold onto your dinars for the new value, etc., etc., but we're heading into May,,, EID over, no pictures of the nscn's yet and companies pouring into Iraq to do business, but I'd like to know why and how companies would pour into Iraq IF they didn't know what the dinar's going to be worth??
Just a question, in MY opinion, because if I was a contractor and bidding on jobs I would want to know my costs and how and what I'm going to be paid going into it or why would I want to do business?
So...do they know something we don't, or..., just askin' as it seems to me as far as they've come based on all the info we've gotten, they could do the 1 to 1 with the stroke of a pen if they're really in that big a hurry to join the international world as they say they are.
Clare: OF COURSE THEY KNOW THE RATE THEY HAVE CONTRACTED TO! ...WHY DO YOU THINK WS & FRANK HAVE TOLD US ABOUT A "SECOND SET OF BOOKS" OVER THE YEARS...IMO
***************
Clare: Sudanese advisor: Foreign currency reserves are high, safe and at comfortable levels
4/25/2023
The financial advisor to the Prime Minister, Mazhar Muhammad Salih, confirmed, on Tuesday, that foreign currency reserves are high, safe and at comfortable levels, while indicating that the value of treasury transfers is currently estimated at about 46 trillion dinars.
Saleh said, “The Central Bank currently holds, through secondary market operations, about 64 percent of the total internal public debt, which are government debt instruments in the form of bonds and treasury transfers
(That is, they are government borrowing tools that were deducted by local banks, and they are the primary holder before discounting them with the authority.” cash), as banks, especially government ones, at different periods deducted their interest with the Central Bank and regained their liquidity, and they carry an annual interest ranging between 2-3 percent, and today they have become an integral part of the assets or assets in the balance sheet of the Central Bank of Iraq.
And he added, "The value of treasury transfers in the possession of the monetary authority is estimated at about 46 trillion dinars currently," pointing out that "the foreign currency reserves of the Central Bank of Iraq are at very comfortable levels, which are the highest in the country's financial history, which are not less than balances (in foreign exchange and gold). ) between 110-115 billion dollars, and at the same time it constitutes a percentage (coverage) of the cash currency issued (and according to the current exchange rate) by about 130 percent, which is a high and safe coverage.
And he continued, “Monetary policy, and by virtue of the fact that the Central Bank of Iraq is the government’s financial advisor, and it is the one who coordinates and consults with the government in accordance with its law to ensure consistency and harmony with the joints of financial policy and other economic policies, any decision taken by the monetary authority in accepting a discount or liquidation of any government debt instruments will be subject to
There is no escape for accurate standard equations in applying monetary policy tools and their operational objectives, within the framework of managing the liquidity of the economy in a balanced manner with macroeconomic indicators, and in a manner consistent with the independence of the Central Bank of Iraq.LINK
***********
Courtesy of Dinar Guru
Frank26 [Iraq boots-on-the-ground report] FIREFLY: Something is about to pop...it has to. After EID we expect some changes to the current rate. To more like 1000 to 1... FRANK: Pay attention to your prime minister. He is trying very hard to tell you your currency is at 1.5 to the American dollar. It is possible they may start the float at 1 to 1.5 instead of 1 to 1.
yada The parallel rate...is the rate that the street operated at. For a long time, the street rate charged higher rates for dollars that were purchased by dinar. The CBI rate is the official rate and there was a variance between the two. Since the official currency in Iraq is now the dollar [dinar ?] and illegal to use dollars, the street vendors are forced to play fair or use the same rate as the CBI...the parallel rate is flattened in Kurdistan whom always operated at a higher standard than Baghdad. Now the rate will go international and that is what we've been awaiting
Nice article from salah the Prime Minister advisor
Nader: 4-25-2023
(ALERT) The 10 YEAR YIELD DROPS! "Fear Trade." Is It Time To Short The Market?
Greg Mannarino: 4-25-2023