Walkingstick: Government is moving toward raising the value of the dollar to 200 to cover the salaries of its employees
01/05/2016 10:18 Number of Views: 1970
Tomorrow Press / Baghdad: heading the Iraqi government, during the current year to raise the value of the dollar against the Iraqi dinar to 200 thousand dinars for every $ 100, instead of 120 thousand dinars, including an attempt to cover employees’ salaries.
A source in the Finance Committee of the House of Representatives, who declined to reveal his name, in an interview for “tomorrow Press”, “The central government has received proposals by some parliamentary bodies and a number of ministers, requires raising the value of the dollar to 200 thousand dinars per hundred dollars, in order to fill The cover staff salaries, which have become the government unable to pay in light of the continuing decline of oil prices.
http://alghadpress.com/ar/news/44197/%D … 9%87%D8%A7
Walkingstick: Start using the card “in order to Card” to pay for the import and export licenses fees
Written by AH Date: 01/05/2016 11:01
He said the company’s director, Jassim Mohammed al-Amiri, said in a statement, “The Iraqi news agency” has received a copy of it, that “these measures come within the framework of Achteral time and red tape and simplify procedures and eliminate friction references to the employee in order to achieve transparency and integrity,” adding that his company and “in line with the orientations General Secretariat of the Council of Ministers and direct supervision of the Minister of Commerce Mohamed Xiaa Sudanese now working to simplify the procedure to grant import licenses to work through the single-window system through an electronic system, which is scheduled pitted after coming months. ”
He called al-Amiri “exporters and importers to the obligation to pay fees for vacation across the smart card, the fact that the company after the direct implementation of this system will not receive any fees otherwise.”
http://www.iraqnewsagency.com/%D8%A7%D9 … %B1%D8%B3/
JAN 5, 2016
An East and Southeast Asian equivalent to the International Monetary Fund is expected to be launched as early as this spring, tasked with keeping watch on risks in the region such as a collapsing currency.
The Singapore-based ASEAN+3 Macroeconomic Research Office, or AMRO, an independent body formed in April 2011 by the 10 member states of the Association of Southeast Asian Nations plus Japan, China and South Korea, will likely be upgraded into an official international organization.
Japan, which has led AMRO, hopes that the upgraded institution will play a role similar to that performed by the IMF. Whether this happens may depend in part on what backing China decides to give to the project.
In the event of a currency crisis, AMRO will issue recommendations for the 13 member nations to invoke their Chiang Mai initiative, a mechanism to supply hard currency jointly in a crisis.
For AMRO to be formally recognized as an international organization, a pact must take effect after approval by the members’ legislatures. The Diet has already given its consent, and approval procedures in other countries are likely to be completed by spring, sources familiar with the situation said.
If it is to strengthen its presence, AMRO would need to boost its research and analysis capabilities through cooperation and the sharing of information with institutions such as the IMF.
Following the U.S. Federal Reserve’s first interest rate hike in more than nine years last month, concerns about a currency crisis have been growing among emerging economies. Some warn of an exodus of funds and selling pressures on their currencies.
Some emerging economies in Asia distrust the IMF after it required them to impose austerity measures in exchange for financial aid following currency crises in the 1990s.
In this regard, a senior official at Japan’s Ministry of Finance expressed the hope that AMRO becomes an effective player, saying Asian nations will find it easier to listen to opinions from an institution based in the region.
China, which has been boosting its presence in the international financial arena, may be central to the body’s future. Last year, Beijing led work to establish the Asian Infrastructure Investment Bank, and the yuan was added to the basket of currencies that sets the value of the IMF’s special drawing rights, an international reserve asset to supplement IMF member states’ official reserves.
Given that China has invested the same amount of money in AMRO as Japan, the functions of the Asian version of the IMF would fall short of Japan’s vision if Beijing stops short of full-fledged cooperation, analysts said.
AMRO is currently headed by former Ministry of Finance official Yoichi Nemoto. AMRO’s research findings are reported to meetings of finance ministers and central bank chiefs of the 10 ASEAN countries, plus Japan, China and South Korea.
Japan and China each have put up 32 percent of AMRO’s capital. Of the remainder, 16 percent has been contributed by South Korea and 20 percent by the 10 ASEAN members.
http://www.japantimes.co.jp/news/2016/0 … ovFafkrKM9