Islandg1211: In ballet, when one dancer is finished, they take a bow, and exit, then the prima will appear for the final grand dance. As one goes, the other appears. Watch Maliki take his final bow, then Shabibi make his appearance to finish this show.
Walkingstick: Monetary policy of the Central Bank of Iraq .. from defense to attack
Posted 31/10/2015 07:05 PM
Hamid Rahim al-Rubaie
worked monetary policy since the early days of political change in Iraq to maintain the overall rate of price because this goal is a priority over the other, according to the criteria of independence for the central bank .. In general, the monetary policy, which is called the indirect tools are also the context of modern trends in the work of central banks as well as independence, which are dealt with within the natural conditions to achieve that goal, we find the nominal interest rate signals and send the petition of the messages of the economy over the nature-term perspective of monetary policy, whether contractionary or expansionary, in addition to the ratio of the legal reserve and operations open and private market offer Monetary ..
If through these tools and change depending on the nature of the prevailing economic variables pushing for control of the money supply leads to the reduction of boarding rates when inflation signals, and vice versa ..
but in the privacy of the loss of investment sensitivity to the interest rate of the Iraqi economy because of the pessimistic outlook and other and size the large reserve with banks in addition to the weakness of the interaction between individuals and the banking system and added to it the limited Iraq Stock Exchange, which reflected negatively on the amount by subtracting government bonds, so it has become the central bank follows the policy (the exchange rate) for the purpose of achieving his goal and thus work through method (floating Orbit) through auction currency industry policy sets the exchange rate according to a certain formula enabled the Central Bank of the stability in the general rate of prices of industry (excluding real estate).
Overall it was this policy is the privilege of defense policy forced the central bank from which to respond to the domestic demand, the size of the hard currency regardless of its size and by the fact that the money supply (money supply) has become a variable belonging to government spending, ie, beyond the control of the central bank, note that in normal cases, the money supply is expressed in the external variable being given by the central bank .. if it did not Central find a way has succeeded in that task and managed to accumulate reserves very excellent enabled him to auction management with high confidence the industry thanks to the large economic mentality of the previous administration of Dr. Sinan and Dr. appearance, no wonder the understanding of a very difficult cognitive numbers at the global level.
But confusion great is that the economic sectors in the Iraqi interior of a very shrunken character, and the supervisor is no secret the case that industry and agriculture are all services partially paralyzed, and this means a contraction in the Iraqi economy ..
From this grew the new policy, the central bank announced by the government through economic reform team , and on his head, Dr. appearance of the launch of loans worth (six trillion dinars) a specific mechanism for the purpose of which is to channel loans to the Iraqi private business sector and the mechanism shared by the government and private banks, the purpose is to expand the business and create a favorable environment for investment and thus out of the economic downturn that accompanied Iraq Since 2003 until now, Mr. adviser to Prime Minister Dr. explained the appearance that these loans after they are launched from the central bank and then re-met will be launched in the form of loans again .. If the plan is relatively long range for the purpose of maintaining the sustainability of the momentum of government support the private sector ..
It is noteworthy that such a policy is more akin to the old style of management of monetary policy and of direct tools such as determining the credit limit and interest rate and persuasion literary and other, which does not meet with the independence of the standards, on the other hand may be similar within certain limits with those unconventional tools of monetary policy that followed after the 2008 crisis in the US and other quantitative and credit Kaltesar, interest and zero ..
In general, we are facing great economic School is Dr. School of Economics appearance, and not necessarily always work the idea of cloning Because there are several things have privacy .. is referred to as There are fears that the group accompanied by observers such as corruption, nepotism and other .. and apart from that we are discussing the idea of a shift in the course of monetary policy to attack rather than defense, and we all hope to reap the benefits of those policies as soon as possible.
Walkingstick: .. Next month launch a loan of 5 trillion
BAGHDAD Shaima Rashid
Member of the Committee of Economy and Investment Abdul Salam al-Maliki said the formation of a higher committee to follow up on the granting of loans To avoid wastage of funds or corruption, whether in banks or committees, noting that the loans will be launched in the next month.
Maliki said, in an interview for »morning» ,: that the sub-committees set up to monitor the amounts launched by the central bank since the economic and investment commission in Parliament It will exercise its supervisory role, according to customs clearance issued by the Council of Ministers to monitor the expenditure of these loans », indicating that« according to the launch of loan mechanisms, the money will not be given by hand, but according to the rates of the projects prepared for this purpose ».
The member of the Committee to «the completion of all the mechanisms on the subject», pointing that the central bank will launch a money banks concerned the middle of this month and then the committees, regardless of money and loans to beneficiaries next month, according to the legal mechanisms in place in institutions ».
in turn, made it clear to the Committee of Economy member Najiba Najib» Sabah »that due to the importance of launching loans agricultural sectors Project and industrial and housing, in order to move the market and provide job opportunities and support the GDP has been the formation of a committee to follow up the money and protection from corruption or nepotism or clientelism and mechanisms used by these banks.
Najib, adding that the facilities will be provided through the website are offered the project of the same person or his agent and showed that there are powers given to the bank branches in the provinces, noting that the amounts awarded will be interest-bearing at 4 percent of the loan amount.
The Prime Minister Haider al-Abadi had instructed, earlier, to proceed with the lending program which is funded by the Iraqi Central Bank in the amount of five trillion dinars for the sectors of industry, agriculture and housing.