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10/20/19 pm Sergio  Hello everyone. I have a UN update. I just got off the phone with the person who heads the communication with IRAQ. Call went like this. Hello a lady answered the phone, hello my name is seck and i have a question on Iraq Chapter 7 and their currency. She then asked me what organization i was calling from? I said i was a private individual who is looking for some information. She said we do not answer questions to private person, she then paused and said hold on let me see if i can get the person to help you, i thanked her for the help she was giving me, she came back on the line as asked if i could hold on he was on a call with someone from Iraq. i said yes i will hold. then with in mins a man came on and asked was i such in such a persons name who had emaild him on the 8 th i said i have emailed 4 times in the past month LOL told him my name he said wrong person lol anyway he ask what can i do fro you. I said i wanted to know if Iraq has t come out of chapter 7 before the can have a tradable Currency? He said NO!! i then told him i was told from a person in the UN before that they would have to come out of Chapter 7 he said the person gave me the wrong answer and he will email me with docs that pertain to iraq and what ever else he could give me, I said thank you for all you help he then gave me his email address, said goodbye . The only reason i did a play by play is because i always do as per any contact i have with the Banks WTO IMF and UN . will will post his email docs as soon as he sends them to me.

Dear Sergio,

Good to speak with you briefly yesterday over the phone. Concerning your query regarding Iraqi dinars, I wanted to direct your attention to paragraphs 1 and 3 (below) of SC resolution 1956 (2010), attached for ease of reference.

Can you provide me with further information as to the background of your query?

Best Regards,

1. Decides to terminate, on 30 June 2011, the arrangements established in paragraph 20 of resolution 1483 (2003) for depositing into the Development Fund for Iraq proceeds from export sales of petroleum, petroleum products and natural
gas and the arrangements referred to in paragraph 12 of resolution 1483 (2003) and paragraph 24 of resolution 1546 (2004) for the monitoring of the Development Fund for Iraq by the International Advisory and Monitoring Board and further decides that, subject to the exception provided for in paragraph 27 of resolution 1546 (2004), the provisions of paragraph 22 of resolution 1483 (2003) shall continue to apply until that date, including with respect to funds and financial assets and economic resources described in paragraph 23 of that resolution;

3. Decides that after 30 June 2011, the requirement established in paragraph 20 of UNSCR 1483 (2003) that all proceeds from export sales of petroleum, petroleum products and natural gas from Iraq be deposited into the Development Fund for Iraq shall no longer apply, and affirms that the requirement established in paragraph 21 of UNSCR 1483 (2003) that 5 percent of the proceeds from all export sales of petroleum, petroleum products and natural gas shall be deposited into the compensation fund established in accordance with resolution 687 (1991), and subsequent resolutions, shall continue to apply, and further decides that 5 percent of the value of any non-monetary payments of petroleum, petroleum products and natural gas made to service providers shall be deposited into the compensation fund, and that unless the Government of Iraq and the governing country

My Conversation with the WTO :Hello all, Sorry i was not able to record my conversation with the WTO the person said they would not be able to do that.
I was able to ask some questions on Iraq . 1 Question: Does the WTO have anything to do with the exchange rate of Iraq?
Answer: No the WTO facilitates the trade of goods and services between countries. 2 Question: What is the hold up of Iraq becoming a full member of the WTO? Answer: hold on let me check on what Iraq stats. ( put on hold ) back The stats on Iraq is that they still have not provided a service and goods assessment. 3 Question : Do you know anything that if Iraq becomes a full member of the WTO that Iraq's exchange rate would go up. Answer: I can not say with any type of authority or knowledge that that will happen, our main position as i said before is to facilitate Trade. I then said thank you for you time and it was most helpful. I

Sergio  Current Economic Conditions

Along with all those critical situations in the country the economic condition of Iraq is improving with the every passing day. Some massive investments have been seen for the last 6 years in the country. The Iraq is now free from international sanctions imposed by United Nation. After free from chapter 7 sanctions 7, Iraq has authority to do any kind of business with the any other country. Oil is the backbone of Iraq economy. Now the country is free to sign any contract with the any other country to search or export their crude oil anywhere in the world. Large number of oil exploring companies is operating in the country in the different areas to find the new oil fields.

Special Authorities to Governor to Sign any Contract

There was a time when making investment in Iraq was more than a tough job. You had to fulfill too many requirements and legal formalities to open a new business in the country. But now the situation is completely different. The government of Iraq has given special authorities to the governor of the province to sign any oil and other business contracts without prior permission of the government. All of these soft conditions are to ensure the foreign investment in the country. These special authorities have attracted many of the international investors to the country to make heavy investments in different sectors of the country. The cottage industry of Iraq is also improving with the heavy investments in the domestic industry of Iraq. This is one of the biggest point and addition in the latest Iraq news that cottage industry of the country is also improving very fast.

Revaluation of Iraqi Dinar

People have made heavy investments in the Iraqi dinar with the expectations that it will be revalued in the near future and they will be billionaire. The investors in Iraqi dinar include not only common people but the retired army officers of Iraq war. They believe that Iraqi dinar will be revalued in the next few years and they will earn more than anyone else in the world. The best example of Iraqi dinar revaluation is the Kuwaiti Dinar revaluation that occurred in 1990 and people who invested in the Kuwaiti dinar became billionaire over night. Many of the international banks are also interested in Iraqi dinar purchase and they are the big investors of Iraqi dinar as well. The Noor Al Maliki administration was major hurdle in the revaluation of Iraqi dinar because of dispute with Kurdistan.

Kurdistan has major role in the revaluation of Iraqi dinar and its resolution to pass. The supreme leader of Iraq has taken action against Noor Al Maliki and the government was dissolved. Now new administration is now in the power and they are taking initial steps to complete revaluation process. This can be very big and latest Iraq news. People are waiting for the completion of this procedure for revaluation of Iraqi dinar in next few months. The dinar gurus believe that revaluation of Iraqi dinar will surely occur at the end of 2016. We must have to wait if we have some dinar to be billionaire in the next few months.

IMF Managing Director Approves a Staff-Monitored Program for Iraq
Press Release No. 16/04
January 12, 2016

The Managing Director of the International Monetary Fund (IMF) approved a Staff-Monitored Program (SMP) 1for Iraq covering the period of November 2015-December, 2016, on which the authorities and staff had reached ad-referendum agreement in November 2015 (see Press Release No. 15/509).
Iraq is facing a double shock arising from ISIS attacks and the sharp drop in global oil prices. The conflict is hurting the non-oil economy through destruction of infrastructure and assets, disruptions in trade, and deterioration of investor confidence. The impact of the oil price decline—already felt in 2014—intensified in 2015, affecting the budget, the external sector, and medium-term growth potential. The authorities are responding to the crisis with a mix of fiscal adjustment and financing.
To help address the present and urgent balance of payments and budget needs triggered by the ISIS attacks and the collapse in oil prices, the authorities have also requested an SMP to establish a track record of policy credibility to pave the way to a possible Fund financing arrangement. Under the SMP, the authorities will implement fiscal consolidation that will contain public expenditure in line with available revenue and financing, and aim to reduce the non-oil primary deficit by US$20 billion or 12 percent of non-oil GDP between 2013 and 2016. Under the SMP, agreement has also been reached on measures to strengthen public financial management, anti-money laundering and countering the financing of terrorism (AML/CFT), and financial sector stability.
The IMF has assisted Iraq in strengthening economic institutions and in providing advice to the government on economic policies and reforms for more than a decade. IMF staff will work closely with the authorities to monitor progress in the implementation of their economic program. In addition, the IMF will continue to provide technical as World Bank calls on the Iraqi Government to change the policy of the Central Bank 14-05-2014

The World Bank warned the Iraqi Government against the monetary policy currently pursued by the Central Bank of Iraq. The World Bank demanded in a letter addressed to the Government of Iraq to put pressure on the management of the Central Bank of Iraq to change its policy and without a deal, the Central Bank's current policy would lead to the collapse of Iraq's economy, where the Bank has no internal or external policy challenges.

from just a few weeks ago for cross reference....

Baghdad ( MP, Baha al-Araji, of al-Ahrar bloc stated that the World Bank warned the Iraqi government from interfering in the performance of the Central Bank of Iraq.

He stated in a press statement received by “We were warned from the collapse of the economic and financial fields in Iraq due to the interference in the performance of the CBI.”

“The World Bank held a meeting in Amman in presence of the representatives of Iraq and warned the Iraqi government from the interference in the performance of the CBI other wise, Iraq will be listed within the black list and this reminds us of the sanctions imposed on the former regime,” he concluded.

Employment History
Member, Ministry of Finance Iraqi Currency Exchange Team
Member, Ministry of Finance Iraqi Currency Exchange Team
The Coalition Provisional Authority
Board Memberships and Affiliations
Iraqi Currency Exchange

Hugh Tant III
It is terrific to be with you. I would like to thank you for the opportunity to address your questions this evening. I am talking to you from the ICE (Iraqi Currency Exchange) project room in one of Saddam's palaces. We like to call it the ICE box. Around the walls are various colorful pictures of the old currency (featuring Saddam) and the new currency (without Saddam). In addition to the currency posters around the room, there are various maps and charts that help us map the delivery of the Iraqi currency throughout the country.

JoJo, from Farmington, New Mexico writes:
How Much is the New Currency Worth in American Dollars?

Hugh Tant III
The new Iraqi currency's rate is currently stands at 1,955 Dinar to one US dollar. A 10,000 Dinar note is worth approximately $5 US. To give you an idea of what 10,000 Dinar can buy, here are a few examples. Iraqis can buy a pair of child's shoes for 10,000 Dinar, 2 pounds of bananas for $.75 (1500 Dinar), a can of Coca Cola from the market costs $.25 (500 Dinar) and the Iraqi equivalent of a sandwich lunch (pita bread with meat and salad) for about $0.63 (1250 Dinar).

James, from Montana writes:
How well is the new Iraqi Currency being received by the Iraqi citizens and the surrounding countries?

Hugh Tant III
The Iraqi exchange is confined to Iraq and the currency is being well received by the citizens. The exchange program runs from October 15 of this year to January 15 of 2004.

We have completed almost 5 weeks and 67% of the expected amount to be converted has already been accomplished. I have spoken with numerous Iraqi citizens and each one has said they are very happy to finally have one currency that is secure and stable for the entire country.

Caleb, from Vancouver, WA writes:
How long did it take to decide on what the new Iraqi currency will look like, and who decided what it will look like.

Hugh Tant III
The Central Bank of Iraq decided on what the new currency would look like. They decided that it would resemble the old "Swiss" Dinar that the entire country used prior to Saddam printing notes with his picture on them, in the early 1990s, after the first Gulf War.

These new notes have many historical and cultural characters and places that are unique and important to the people of Iraq.

Caleb, from Vancouver, WA writes:
How long did it take to decide on what the new Iraqi currency will look like, and who decided what it will look like.

Hugh Tant III
The Central Bank of Iraq decided on what the new currency would look like. They decided that it would resemble the old "Swiss" Dinar that the entire country used prior to Saddam printing notes with his picture on them, in the early 1990s, after the first Gulf War.

These new notes have many historical and cultural characters and places that are unique and important to the people of Iraq.

Hugh Tant III
Thanks for your question. The conversion period is from October 15 of this year to January 15 of 2004. During this period, Iraq will work in the two old currencies that exist and the new currency.

The old currencies are the "Swiss" Dinar primarily used in the Kurdish north and the other, the "Print" or "Saddam" Dinar, used in the central and southern parts of Iraq.

However, after January 15, only the new Dinar will have value and be used by the Iraqi people.

Andrew, from Roseville, California writes:
Who designed the new Iraqi currency and why was it designed that way? Where is it printed? In the USA or in Iraq? Thanks

Hugh Tant III
The Central Bank of Iraq decided on what the new currency would look like. De La Rue based in England was the company chosen to print the new Dinar.

This company printed the Dinar used by Iraq prior to the Saddam Dinar and actually still had some of the old printing plates which were updated for the new money.

De La Rue used 5 factories around the world to print the new Dinar - in England, Sri Lanka, Kenya, Malta and Germany. The Spanish Government generously donated resources too - printing the 250 Dinar denomination notes at its print works in Spain.

Ruth, from Oceanview,N.J. writes:
Dear General Tant, How was the Dinar chosen as the Iraqi currency and how was the design on the front and back of the bill decided? And, has the President seen the new bill? Thank you.

Hugh Tant III
The front and back of the notes were decided upon by the Central Bank of Iraq. The designs represent cultural and historically unique people and places from both history and current life.

The deputy Governor of the Central Bank, Ahmed Al Jaburi, told me he thought the mix of illustrations showed the harmony of the ancient and the modern in Iraq.

US Secretary of Commerce Don Evans, a member of the President's Cabinet, helped kick off the currency exchange program here in Baghdad on October 15.

At that time, he was presented some of the news


8/9/2019 chattels  Newshound Guru Kaperoni People need to get over the idea of a "revaluation" of the Iraqi dinar. It's not happening.
It is difficult to reconcile Kap's view with the coy and protective response of Shabbibi at the Washington press conference years ago, but .............................

Portmagaland  chattels So, who do you believe Kap or Shab?

chattels  Dr. Shabibi answering revaluation and redenomination questions
U.S. Chamber of Commerce, April 2011.

chattels  Portmagal and I do not know that it is an either / or situation. Kap must believe in a near(er) term upside even if it is not overnight.
Otherwise he would not be so involved is my sense of it with him.

Portmagaland  chattels thank you, still watching the video.

chattels  I invested enough to be able to sell some early and hold some over time and for later.

Portmagaland  I just hope hes wrong and theres this fantastic life changing event for everyone globally.

chattels  Portmagal and It is the stuff that dreams are made of for sure.

Portmagaland  chattels The outcome either way, seems to be approaching, I just hope it's the one that allows me to give my job to someone else.

chattels  Portmagaland " If you can dream—and not make dreams your master;
If you can think—and not make thoughts your aim;
If you can meet with triumph and disaster
And treat those two impostors just the same; .................. Yours is the Earth and everything that's in it, ............" - Kipling
chattels  Portmagal and I have had a sense of immediacy in this on several prior occasions only to be disappointed.

Portmagaland  I am prepared for the long(er) term.

Wilder  Who or what puts Kaps ideas or predictions above anyone or anything else we've heard for the past 11 years? We or I stick it out till whenever whatever happens.

Portmagaland  Let's hope it's not 11 more years. It's about time either way.

chattels  Wilder Kap has greater credibility with me than the daily prognosticators. We will not know whether Kap is / was correct until IT happens, if at all. IMO.
We are all in the same boat. It is not necessary to debate the process. It is like getting pregnant. Either you do or you don't. Either you is or you ain't. We shall know only when it happens.

future  reality is kap is only guessing like the others,he has no clue what is going to happen neither

larrykn  did you see Kap post this morning
no overnight RV or RI and gain only 8 to 15% per year

Doug_W  In his opinion

larrykn  it does seem that the CBI is getting their stuff together now, at a good pace too, I guess ( haven't seen the article ) that they elected a new governor, we will see and what is his take of reforms

I also noticed that Kap keeps talking about will Iraq have what it takes to get investor into Iraq. Well all I read lately is how companies are coming into Iraq or made agreements to come in. I don't think they will have a problem with investor , Matter of fact this might be good for us due to they will already have the private sector setup before they increase the value of their currency. which is why I'm not sure Kaps thinking about starting out at were it is would hold up or not , time will tell


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