Chat Room – Excerpts & Highlights
JustNTime says(): [good morning everyone:) i wanted to share a article from the past.
JustNTime says():Wednesday 12/01/2010
Central Bank Consultant: We seek to restructure the currency
Baghdad (news) An advisor of the Central Bank Mzarsaleh that the bank is seeking to restructure the currency to suit the economic development., “Said Saleh (of the Agency news) today:
We will resort to the restructuring of the currency to suit the new situation and economic progress, noting that the currency is growing day by increasing Alatnag and economic progress, not because of inflation and release as before.
He added: that the value of the Iraqi dinar escalate, and this rise has achieved a major goal in addition to the purchasing power of the dinar rose to the value of imports.
Saleh explained: Ann’s central bank plans to maintain the value of the Iraqi dinar and the essence of monetary policy, which we have adopted the stability of the overall level of prices.
Salih noted that the exchange rate the Iraqi dinar and foreign currencies is the external value of currency, where the value of internal and external value, explaining: the external value is important for the economy of oil-exporting countries and importing of goods of the many, as we believe that monetary policy is part of the targeting of inflation and raise the purchasing power of the Iraqi dinar
http://www.ikhnews.com/news.php?action=view&id=5006
JustNTime says():the dinar rose to the value of inports… 🙂
DIGIman1 says to JustNTime()::) (y)
DIGIman1 says():
DETAILS NOTES
Number of banks 34
Number of remittance companies 15
Auction price selling dinar / US$ 1182
Auction price buying dinar / US$ —–
Amount sold at auction price (US$) 127,161,362
Amount purchased at Auction price (US$) —–
Total offers for buying (US$) 127,161,362
Total offers for selling (US$) —–
JustNTime says():I have one more for the day:) this project is coming full circle as to what they wanted done back in 2010. I have almost all the articles from back then so if no one minds I will post some every now and then.
subgirl says to JustNTime():as you do, please make sure you date them as of that date so we wont be confused. thanks
JustNTime says to subgirl():replying to the article above i posted from 2011 not sure why it didnt paste the whole article but here is the rest of it.
JustNTime says():sorry lets try it again the rest of the 2011 article from above measures and bold decisions, the first review of the operation import wrong and reduced to the extent necessities, as the import open wide to drain the excess foreign currency and deposited with the Central Bank of Iraq in support of the Iraqi currency,
and not put up for sale through auction for those wishing to by the Iraqi traders to cover Astiradathm of goods, as well as the review in order to reduce public expenditure to the State and its departments in regards to import furniture is expensive, they can be obtained from the local market,
which encourages and supports the sector of local industry and create jobs for the unemployed, also support the development of the agriculture sector by helping farmers with seeds and agricultural machinery in order to increase production of agricultural crops.
There are also other things to support the Iraqi currency, including: reducing operations Aliivadat staff and make it only for the purpose of training and development.
jfd says():Does anyone in this chatroom believe that on October1st when China will enter the SDR basket of world reseerve asset backed currencys that this event will some way force the PTB to allow Iraq to RV their currency to some how offset the decline in the USAs drop in value?? Is this pure Guriisumness nonesense?
wmawhite says():It pains me greatly to read on some of the xx sites when a “News Hound” or a “xx” makes a statement such as; “we now know 3 things are now FACTUAL and see these FACTS in writing from the CBI:”
“Iraq does need the IMF’s permission to RV”
My response…………..!!!! Wrong……not so!!!! We do not know that as fact!!! Show me!!! Where has the Central Bank of Iraq or the IMF has ever made such a statement?
“Iraq CBI needs to increase their reserve of hard currency now sitting in the CBI. It now is almost cut in half from what it was in 2012.”
My response…………..!!!! Wrong……not so!!!! We do not know that as fact!!! Show me!!! Where has the Central Bank of Iraq or the IMF has ever made such a statement?
My response…………..!!!!Two years ago the reserves were at $80 billion and what was the value of the IQD?
Answer; 1166
“the legislative track and other issues also have an impact on the exchange rate (so it appears Iraq does need some mandated laws…”
My response…………..!!!! What????!!!!What is a “mandated law”? Another xxxxx statement. None of these statements made by this News Hound/xx is in writing from the CBI. NONE. This xxx is not truthful. Good grief, Charlie Brown.
BGG says():GM Mr White.
wmawhite says():GM
BGG says():Thanks for that – good stuff.
loop says():Proposal to approve the foreign remittances Law
9/18/2016 0:00 BAGHDAD Mustafa al – Hashimi Called for a banking expert Dr. Essam Mohamed for legislation or the adoption of a law on foreign remittances to reduce hard currency out of Iraq without achieving real returns contribute to the achievement of development of the national economy.
He said Muhammad’s “morning” that the existence of such a law after studying extensive study will contribute to put the right foundation for trust business real banking, noting that the sale of the dollar at the central bank window allowed for a number of banks that profited them due to remittances and credits, what caused the reluctance of the social role and economic actor in the development process.
He stressed that the legislation conversion law the outside will contribute significantly to reducing tampering without the knowledge economy as it will reflect positively on the citizen by enhancing the likelihood of obtaining loans for the establishment of industrial shops in productive projects, among others.
He stressed the importance of hiring the proceeds of the oil dollar through development programs and other lending adopted by private and government banks under the supervision of the central bank if launches loans or advance for widows and young people and the rest of the categories that can be productive to strengthen the family economy.
Source http://www.dinarupdates.com/showthread.php?41119-Proposal-to-approve-the-foreign-remittances-Law-9-15&p=161798#post161798
Thank you for the news 🙂
BGG says to loop():Nice piece Loop!!
loop says():Saleh: next year’s budget deficit can be treated
9/18/2016 0:00 You can make a change in its structure and transfers for the benefit of reconstruction
BAGHDAD Shokran Fatlawi
Featuring 2017 budget year next to my optimism and positive bright even though they do not vary much from the current year’s budget, but in the adoption price of oil, which, as well as expectations of increased oil production volume to rates achieved revenues in the framework of the difficult financial equation faced by the country from the war on {Daesh} The terrorist and the decline in world oil prices since 2014.
He announced a financial advisor to the Prime Minister Dr. The appearance of Mohammed Saleh, said that the side optimistic for next year’s budget is the possibility of a change in its structure and make transfers for the benefit of reconstruction and construction with the capacity to deal with its deficit of around 34 trillion dinars from internal sources and external represented by the Convention with the Bank and the International Monetary Fund and international bodies chock, or asylum to borrow Procedure.
He predicted favor to have the roof total Alanvaqa budget about 103 trillion dinars and that the budget year turn in 2017, which was approved by the Council of Ministers of the war budget to a peace budget after eliminating gangs «Daesh» terrorist and turning a lot of high packing expenses to the field of reconstruction and stability of cities and infrastructure rapid infrastructure construction and other joints such as the operation of water systems, health units and schools.
Operational spending
Financial Advisor to the Prime Minister in his speech for the «morning» said on the sidelines of an economic seminar organized by the recent progress of policy development institute that the priorities of operational spending will be for salaries and wages and social welfare without compromising them,
noting that the budget year 2017 technically not different from the 2016 budget year, but different pricing oil, where the price of a barrel of oil in 2016, $ 40 a barrel for a while in the next budget to $ 35 per barrel, the barrel returned calculating this price affirmative action the fact that oil prices will range between $ 40-45 per barrel.
production volume
ith regard to the budget and production of oil Saleh explained that what is required to increase the volume of production for the current year, production in the framework of the financing equation difficult and roof of the proposed budget for 2017 with respect to the price of the barrel and the volume of production of 3.88 million barrels, noting that it did not affect the deficit, which jumped from 24 Trliuna size 34 trillion Dinar.
Maximum energy export
Saleh revealed the existence of a problem is at maximum capacity for export amounting to 4.1 million barrels, and the difference between planned for export and absorptive capacity is 200,000 barrels per day, which is enough to meet domestic consumption of 650,000 barrels, indicating that the investment capacity of oil is good in light of the modest allocations with a dues financial companies and licenses required repaid.
Improve negotiating conditions
He also called for the need to improve the negotiating conditions for licensing contracts and taxed in a clear and transparent to the presence of tax evasion for these companies also called to the importance of the study of moderating the costs of the large waste,
pointing out that the total revenue for 2017 will amount to 70 trillion dinars of oil revenues 58 trillion dinars and other income 11 Trliuna and the barrel price will be $ 35 and the amount of current expenditures 76 percent and investment 24 percent.
loop says():Future investment plan Saleh concluded that the investment budget will be mostly for the oil sector and power sector As regards the structure of long-term infrastructure, it will depend on donors, and directions of future investment plan of the Ministry of Planning and according to investment plan 2018 – 2023, which will be one of its aspects structuring infrastructure in the country, especially those that have been damaged , stressing that the terrorist organization destroyed more than 140 bridges and a large number of infrastructure.
Source http://www.dinarupdates.com/showthread.php?41120-Saleh-next-year-s-budget-deficit-can-be-treated-9-18&p=161799#post161799
loop says():Encourage investment needs to be an attractive regulatory environment
9/18/2016 0:00 BAGHDAD morning tightened competent in economic affairs Inas al – Zubaidi on the need to promote the sectors of production at a time when the country is suffering financial hardship has affected the reality of work Mlhod.
She noted in an interview for the “morning” that encourage investment attraction requires that coincides with the structural changes in the regulatory environment and structures of institutions economic as well as aspects of fiscal spending, noting the importance of a review of all other laws and the application of international standards and the development of the stock market combination.
It showed that the banking system bear a wide responsibility for the success of economic reform programs, and will require significant efficacy of private banks and work to finance large development projects that there will be a prominent role for financial intermediaries in stimulating the market money.
It showed that the existing legislation in many sectors need to be reviewed to enhance the overall growth in the framework of the reform process and the wide covering various aspects of the work, to eliminate corruption and bureaucracy, control and other concomitant diseases for some departments and institutions.
Zubaidi said that the current and the next stage requires activating the role of the private sector in sustainable development, and this raises the importance of the development of the local business environment so as to be polarized national and foreign investments.
Source
http://www.dinarupdates.com/showthread.php?41123-Encourage-investment-needs-to-be-an-attractive-regulatory-environment-9-18&p=161802#post161802
BGG says():Another GREAT PIECE!!
MrsBGG says():Don’t MISS – “DU NEWS TIME” w/BGG and Co. in the DU CHAT ROOM – Sunday 7:30 pm EST
Read More: http://www.dinarupdates.com/showthread.php?41098-Sunday-September-18-2016
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