KTFA:
Samson: Economist : Reducing the dollar exchange rate is not / impossible / and the current time is suitable for monetary change
9th November, 2022
The economic expert, Raad Twij, confirmed that decreasing the dollar exchange rate is not impossible as he is promoting it, indicating that the current and next two years are the most appropriate time to bring about this monetary change.
Twig said in a statement to the National Iraqi News Agency : The exchange rate still takes a large part of the attention of political and popular circles, knowing that the increase in the exchange rate was not the source of the monetary authority, but rather it was by the Minister of Finance, so the independence of the Central Bank at that time was questionable.
Therefore, decreasing the exchange rate is not impossible, and this matter becomes a strategic option for monetary policy if the monetary reserve continues to rise, and a restructuring of the Iraqi dinar is carried out in a direction that improves its purchasing power or radically replaces the Iraqi dinar with new values.
He pointed out that “the current and next two years are the most appropriate time to bring about this monetary change.” LINK
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MilitiaMan: I like this one… it fits with the Finance in Ministry and Central Banks motivation and what they have done already. This man is suggesting the current time frame is not out of the question.
Central Banks job it to defend their currency in many different ways, whether is it to be in managed or direct manner, a floating manner or a fixed manner.
When there is a radical change there would likely be a fixed regime after an initial exchange rate change. imo Regardless of how they do it, they appear to have the calculations done and with the potentiality of being a radical change to improve the purchase power for the currency..
What is not to like about this experts view on things.. imo ~ MM
” 2023 will be prepared on the basis of the current “reasonable” exchange rate that resulted according to calculations between the Ministry of Finance and the Central Bank,”
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Kurdistan Region discusses a road map for the new relationship with the Sudanese government
9th November, 2022
The Kurdistan Regional Council of Ministers held its regular weekly meeting today, Wednesday, headed by Prime Minister Masrour Barzani, and discussed a number of topics on its agenda.
In the first paragraph of the meeting’s agenda, the Council of Ministers discussed its previous decision regarding the Kurdistan Regional Government’s road map regarding the new relationship between Erbil and Baghdad after the formation of the new federal government headed by Prime Minister Muhammad Shiaa al-Sudani, as well as shedding light on the mechanisms for solving outstanding problems between the Kurdistan Region. And the federal government on the basis of the constitution, in light of what was stipulated in the ministerial curriculum for the new ministerial formation that the Iraqi parliament voted on, especially Article 140 of the constitutional article on the Kurdish regions outside the administration of the Kurdistan Region, as well as the Kurdistan Region’s share of the federal general budget, the oil and gas file, and participation the real and due of the Kurdistan Region in the federal departments, in addition to the issue of the constitutional rights and entitlements of the Peshmerga, as well as other files such as draft laws (the Federal Court, the Federation Council, oil and gas).
After the Council of Ministers discussed this paragraph, it was decided that the negotiating delegation with the federal government would consist of the ministers of finance, proxy natural resources, and planning, the head of the Cabinet Office, the Secretary of the Council of Ministers, the head of the coordination and follow-up department, and the spokesman for the Kurdistan Regional Government. The delegation was also directed to start negotiations within the frameworks of constitutional rights and cabinet decisions regarding outstanding problems as soon as possible, and to emphasize the implementation of the ministerial curriculum of the federal government and the political agreement that was voted on in the Iraqi Council of Representatives.
In the second paragraph of the meeting’s agenda, Minister of Finance and Economy Awat Sheikh Janab made a presentation on the steps for preparing a draft law on the quota of the Kurdistan Region, and on this basis the concerned authorities will be assigned to work on this issue. LINK
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MilitiaMan: Absolutely nothing wrong with sorting the oil and gas issues.. It is likely since it has been in the works for a very very long time, the time is now to dot some I’s and cross some T’s.. The looks of things there is symbiotic financial things in parallel too.. All converging at or around the same time.. imo -MM
