Iko Ward: Ships in Galveston Dwindling. Now 20 tankers off Iranian port with 8 tugs waiting at the piers. No other news from me at this time….Was 100% sure it was going last night. It may have, just not out yet.
TnDr: Thanks Iko, please indicate significance if Iranian ships leave port full.
Iko Ward: It means they are getting the international rate in Rial for their cargo… If Iran starts loading oil onto ships it means they have RI’d and we have RV’d
Iko Ward: So IF they lift sanctions tomorrow it means we’re done.
MountainMole: Iko the IMF wouldn’t allow the lifting of sanctions against Iran without the RV of Iraq would they.
Rxsalesokc: If sanctions get lifted we’ll hear it on CNN or other news media 1st I’m sure. They were covering it yesterday saying “Iran is only days away”..
Four2atous: How do you cage a bear?= http://etfdailynews.com/2016/01/08/the-beginning-of-a-bear-market/
Four2atous: China-Africa relations= http://allafrica.com/stories/201601130419.html
Shybaby: The Official Gazette published decision of the Parliament to support his reforms and the investment Amendment Act
Tarikh 2016/1/14 13:42
The Iraqi official Gazette published a number of laws, decrees, regulations, instructions and decrees, approved by the House and endorsed by the President.
The Director General of Iraqi Mohannad Al-itabi facts in lozalh justice statement that “highlights of the new issue  install code ownership of agricultural land and orchards are excluded from the settlement works no. 49 of 2006”.
“The issue resolution No. 55 of 2015, with the support of the House and his support for parliamentary reform package, in addition to a number of resolutions,” pointing out that “the most important of the many teachings, is organizing a meeting of the Governing Council the supreme body for Hajj and Umrah No.1 2015.” end quote
Shybaby: From Movack post 1/13/2016….” Important enrities ”
C. Foreign Exchange Policy
18. The government will maintain the peg with the U.S. dollar. The peg provides a key nominal anchor in a highly uncertain environment with policy capacity weakened by the conflict with ISIS.
19. The government will gradually remove remaining exchange restrictions and multiple currency practice (MCP) with a view to eliminating exchange rate distortions. Such a move towards acceptance of the obligations under Article VIII of the IMF’s Articles of Agreement will send a positive signal to the investment community that Iraq is committed to maintain an
See Country Report No. 15/235. Iraq: 2015 Article IV Consultation and Request for Purchase under the Rapid Financing Instrument
As a first step, the government will, by end-February 2016, amend the Investment Law, or issue clarifying implementing regulations, to remove the limitation on transfer of investment proceeds that gives rise to an exchange restriction, as recommended by a recent technical assistance mission of the IMF.
20. The government will implement reforms on anti-money laundering and combating the financing of terrorism (AML/CFT). This will improve the integration of the domestic financial system into the global economy and lower transaction costs, improve governance, and reduce the size of the informal sector.
As a first step, the government will, by end-February 2016, draft, with the help of IMF technical assistance, and adopt a by-law to set up a mechanism to comply with the relevant United Nations Security Council resolutions related to terrorism financing and Recommendation 6 of the Financial Action Task Force on Money Laundering (FATF).
A risk worth taking
wmawhite Quote: “Such a move towards acceptance of the obligations under Article VIII of the IMF’s Articles of Agreement will send a positive signal to the investment community that Iraq is committed to maintain an exchange system that is free of restrictions and MCPs for current international transactions and thus facilitate creation of a favorable business climate.”
They have no reason not to tell the world…Iraq wants the world to recognize their efforts…everyday we see proof that it is getting done.
Landa Global call replay Wednesday 1-13-16
General update and preparations
Walkingstick: CBI News & Announcements
To the government and private banks all departments of the bank all (the Oracle Database cycle, 1/2)
To the government and private banks all departments of the bank all (SQL DEVELOPER cycle)
Walkingstick: The dollar recorded a remarkable rise in front of the dinar and the news of the central forced to «floating exchange rate»
Baghdad Samir Mohammed
attribute the members of the Parliamentary Finance Committee confusion quotient in exchange rates to “fear of the citizens of the decline in value of local currency, after the introduction of new currency, which has increased the appetite for saving hard currency”, considering that rise “temporary”, because the central able to cover the market demand from cash reserves.
Former officials at the central bank indicates that the private sector is unable to generate hard currency, increasing the demand for the dollar, arguing that the continued decline in crude prices, Stjbern administration Bank to reconsider its Mzadeha.
not in favor of experts in financial affairs “free-floating of the dollar” for the time being, but called for a “waiver of the current exchange rate, under active management”, pointing out that “it would be useful to government bodies.”
and trading in the corridors of the government’s proposals and talk to the asylum authorities to move away gradually from the currency auction, as a step toward “float the dollar,” to overcome the financial crisis in the country.
The member of the Finance Committee in the House of Representatives, Rep. Majida al-Tamimi revealed earlier “the world”, about the government’s efforts to reduce the value of the Iraqi dinar against the dollar in the currency auction, or mortgage oil Iraqi for decades, stressing that these two options Sadharan the Iraqi economy and its citizens dramatically.
But the talk at odds with the government’s comments to Finance Minister Hoshyar Zebari, who predicted last week, the government had to resort to raising the price of the Iraqi dinar, which was bought from the central bank, noting that it is a “dangerous choice, and could have repercussions,” in the Iraqi street.
attribute the member of the Finance Committee in the House of Representatives, Sirhan Ahmed in a statement to “the world”, on Wednesday, the high price of the dollar, recently, and the confusion made in the exchange rates to “turnout the increasing of the citizens “, adding that” This turnout was caused by talk about printing a new currency, and the possibility of declining value of the dinar, as a result of the drop in oil prices to unprecedented levels.
“experiencing global oil prices since the middle of last year continuous decline, because of the use by some countries to increase Marodha against the lack of demand for it.
“And alert the member of the Finance Committee that” the monetary policy of the Bank, directly affected statements and speech inaccurate by officials “calling on the central bank’s management to hold a press conference to reassure citizens that there is no crisis in the presentation of hard currency, and” not just press releases which refutes the news.
“The government sells the US dollar, which is obtained it from oil revenues, the central bank in exchange for the Iraqi dinar that you use in public spending, such as salaries, etc., so the government will be the biggest beneficiaries of the devaluation of the Iraqi dinar against the dollar.
For his part, the Deputy Governor of the Central Bank, former Dr. Ahmed Abrihi, in an interview with “the world” yesterday, said the sudden demand for hard currency raises dollar exchange rate, especially that the Iraqi private sector in all its activities is unable to generate foreign currency.
refers Abrihi that “statements and projections by politicians for monetary policy is confusing the market,” while calling the “Iraqi business sectors and officials that contribute to the preservation of the stability of the monetary system in the country, by moving away from statements ill-considered “.
“According to Abrihi , “the central bank’s management expects to resume oil prices mid-year rise. But if survival rates as is or fell more, that will allow the central reconsider the price of the dollar through the auction of the currency.
“Financial and economic expert Maytham and coffee also said in an interview with the correspondent of” the world “, said yesterday that the rise in the exchange rate is the result of “pessimistic expectations, the repercussions of the financial crisis that began with the results to appear.”
Laibi believes that government options in this regard are limited, noting that “the proposed solutions are hovering around lowering the exchange rate, a demand Old renewed.”
He adds Laibi that the central bank “does not intends now to manipulate the exchange rate, because in his view still revolves around the transfer of the ball to the government’s court, and the need to increase their efforts to activate the economic sector, “adding that the central cleared his name through his contribution to the release of the 5 trillion dinars loans.
“does not believe in my game to” float free of hard currency “, at this stage, but he believes that it is useful to waive the current exchange rate, allowing Bagturabh, a rate known of the real exchange rate, under effective management by the central bank.
The central bank ruled out, last Saturday, have the intention to modify the dinar exchange rate against the US dollar, while attributing the cause on adoption of the Iraqis to meet their needs on imported goods.
The Monetary Policy Committee of the Central Bank in a statement received “the world” a copy of which he was “no intention to amend the dinar exchange rate, and that what is declared by the otherwise from any person or entity has no considered, especially after it has been installed price in the budget agreement with the Government and the International Monetary Fund.
“The statement said that” the central bank is well aware that any reduction in the value of the dinar meant hurting purchasing power of citizens because most of their needs are imported.
“He stressed that” the bank’s board is the only body authorized, according to the law, determine the exchange rate and every statement in this regard does not issue him is confusion and upheaval of the market .
“This has been confirmed, a member of the Parliamentary Finance Committee pros Saadoun, in a later statement, the committee ruled out the determination of the government or the central lift the dollar against the Iraqi dinar in the currency auction, in an attempt to cover employees and retirees’ salaries this
year.” The Some traders greedy are manipulating prices the dollar, “asserting that” only the victim of this procedure is the employee’s simple citizen.
“She pointed out that” a raise dollar prices, will lead to a rise in commodity prices significantly, “indicating that” Iraq imports simplest things from abroad for lack of local industries, in addition to the high price of local goods compared to the importer.
“He says that the picture of the monetary Bank reserves fell to $ 60 billion due to lower crude prices, but he assured that this decline does not threaten the collapse of the local currency” as the currency bloc the Iraqi dinar covers 160 per cent. ”
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