Millionday: FIRST WHAT ARE WE WAITING ON THE INTERNATIONAL RATES TO CHANGE – RIGHT?
Millionday: FIRST SENTENCE >>>>>>>>>>>Seminar on the central bank auction and determine the foreign exchange rate
Millionday: NOW HERE WE GO
Millionday: Governor of the Central Bank of Iraq Ali Mohsen Keywords announced that the nature of the Iraqi economy Reclining on oil resources, make the relationship between fiscal and monetary policy, including an interactive relationship necessitated by the nature of the revenue and expenditure of the pricing of the dollar.
Millionday: NOTE —THE NECESSARY PRICING OF THE DOLLAR
Millionday: He pointed out that «Central» exercised important roles in this process, including the financing of the current expenditure of the public budget, with the dollar buying from the Ministry of Finance to cover the needs of the Iraqi dinar, in accordance with the allocations required in the general budget.
Millionday: NOTE — THIS IS THE RELATIONSHIP OF THE FISCAL AND MONETARY POLICY — WHOOOPOW — AND THIS IS REQUIRED IN THIS BUDGET —- THE PRICING OF THE US DOLLAR
Millionday: And contributes to «Central» also in finance imports of the commercial sector, while the dollar selling process means the withdrawal of the dinar from the local market, which will help the bank to curb money supply and reduce the resort to printing more currency.
Millionday: NOTE — THE PRINTING OF THE NEW CURRENCY IS THE NEW SERIES — THE US DOLLAR WILL BE USED TO REMOVE THE HIGH DENOMINATION OF THE DINAR
Millionday: He said at a seminar in «Institute of the progress of development policies», attended by experts and interested in the money sector of the economy, that «such activity is not essential for central banks in the world, it is very rare to have the central sales window, but
Millionday: because of the nature of the Iraqi economy, Central took over this task, while the task required to intervene when there is a disruption in the exchange rate, as in the European Union ».
Millionday: NOTE — AS THEY DID IN THE EU — CENTRAL BANK OF IRAQ IS ACTIVATING THE PROGRAM STEPS TO CHANGE THE DINAR TO THE LOWER DENOMINATION– THIS IS THE STEP THAT IS BEING TAKEN BY CBI — WHOOPOW
Millionday: He pointed to the issue of monetary reserves, which are still under discussion, and stressed that the reserve is the difference between what the central buys and sells. And over, it goes to the international reserves, and
Millionday: NOTE — THE INTERNATIONAL RESERVES IN THE REMITTANCE SYSTEM IS APPLIED TO THE CALCULATION OF THE NEW RATES FOR INTERNATIONAL CURRENCY — IN OTHER WORDS IT IS INCLUDED
Millionday: that the function of the reserve financing imports and other transfers and coverage, and the foreign currency reserve is the difference between the dollar sales of the Ministry of Finance to the Central Bank and the central bank sales to the private sector.
Millionday: NOTE — AS WE CAN SEE HERE — THE RESERVES WILL BACK THE PRICE AS SAID IN THIS SEMINAR — THIS IS AN EXPLANATION FROM CBI
Millionday: And confirmed the existence of the adequacy of the reserve criteria, such as coverage of imports for a period of 6 months and cover the local currency and foreign debt.
Millionday: WHOOPOW — THEY HAVE ENOUGH IN RESERVES TO ALLOW THEM TO GET ON THEIR FEET AND BACK THE SET EXCHANGE RATE
Millionday: He noted Keywords to the presence of important rules govern the process of selling the dollar to cover imports of personal and transfers of the private sector, including the Central Bank Law Article 28 and guidance of the International Monetary Fund economic system according to the Constitution, and anti-money laundering law.
Millionday: NOTE — REMEMBER THAT THE DEMANDS TO IRAQ WAS SET BY THE IMF AND HAD TO BE FOLLOWED THROUGH WITH BY IRAQ FOR THE LOAN
Millionday: He pointed out the real solutions such as the purchase or sale simple unconditional, cash and futures, and to require banks to apply the principle «know your customer» and the application of anti-money laundering and terrorism financing law.
Millionday: He pointed to the devaluation of the Iraqi dinar by raising the dollar exchange rate of 10 percent to 1300 dinars to the dollar Options , what provides the general budget of 5 trillion dinars ($ 4.2 billion), or raise the dollar exchange rate of 20 percent to 1400 dinars, providing budget 9 trillion dinars.
Millionday: He said that the reduction option easy, but it does not help in the reform of the structural problems, and the devaluation Local useful for exporting countries to activate the export.
He added that «Iraq importing country, and to reduce the currency hurt the purchasing power of citizens with limited income.
Millionday: NOTE — THE CHANGE AS WE WERE TOLD IN THE SPEECH BY ABADI THAT THE REMOVAL OF THE THREE ZERO CURRENCY WAS GOING TO HAPPEN WHEN THE PRICES WERE APPLIED –
OBVIOUSLY THIS HAS TO DO WITH THE IMPACT TO THE CITIZENS — IT WOULD BE IMPOSSIBLE FOR THE TWO NOT TO GO HAND IN HAND
Millionday: The «can taxes play an important role in the finance, justice and balance without compromising the slide limited income, as can achieve economic goals and social and financial».
Millionday: NOTE — THE TAXES WILL OF COURSE BE APPLIED TO GOV BENEFITS ETC DUE TO LACK OF THE PAY IN MOST COUNTRIES HAVE BEEN PAID INTO
Millionday: The head of the «Institute of the progress of development policies» and former Minister of Planning Mahdi Al-Hafiz, pointed out that the national need not require the continuation of the so-called dollar auction, organized by the «Central», but must be handled freely and without restrictions.
Millionday: NOTE — REMEMBER THAT 91 DAYS WAS THE LIMIT TO REACH THE GOAL THAT THEY HAD SET — SO THE AUCTIONS WILL BE CHANGED
Millionday: And it calls for counter-opinion to uphold the auctions and to provide the necessary facilities for the conduct of this operation, and we must stop at the experiences of neighboring countries and operations.
Millionday: NOTE — THERE IS MORE THAN ONE REASON TO STOP THE AUCTIONS OBVIOUSLY DUE TO THE OUTCOME THEY HAVE SEEN IN THE REGION ETC
Millionday: He asked Hafiz for the exchange rate, which raises problematic several, he said, «How can that half of the process required to determine the exchange rate, and is related to the economic and financial situation of the state»?
Millionday: Turning economist Ahmed Alobreha to points concerning the path expected of the Iraqi economy, pointing to the difficulty of reducing the demand sector Special for foreign currency in the current scope of the exchange rate and income levels.
Millionday: NOTE — THEY ARE RECOGNIZING THE DIFFICULT STEP OF REDUCING THE DEMAND FOR THE US DOLLAR
Millionday: He added that the national economy is a lack of diversified production base that can supplement the national market alternatives to imports of goods and services, adds restrictions and weakens the effectiveness of efforts to address the problem of policies.
Millionday: NOTE — OBVIOUSLY ALL NEW POLICIES AND REFORMS WILL HAVE TO BE WATCHED TO GIVE THE BEST RESULT AND ALSO TO BE THE MOST EFFECTIVE
Millionday: He pointed out that «the private sector was unable to contribute to the display of foreign currency, as well as government non-oil sector, and foreign investment policy did not succeed in adding a tributary albeit in a limited form.
Millionday: Iraq has faced interest on the loans in the international market can not afford the prices, and as a result of crude oil remains the only source of foreign currency, and must be serious and responsible move towards real economic development to pay a danger for Iraq.
Millionday: SO AS WE SEE HERE —- IRAQ CAN NOT MOVE FORWARD DUE TO PRICES WITH THE BONDS AND THE OIL IS ALL THAT WAS LEFT TO BRING IN THE SUPPLY OF THE US DOLLAR —-
SO THE ANSWER IS TO MOVE TOWARDS REAL ECONOMIC DEVELOPMENT
Millionday: IMO THIS MEANS >>>>>>>>>>>>>>> Friday, November 6, 2015
Iraq Exchange Rate:
Seminar on the central bank auction and determine the foreign exchange rate —
THAT IS THE TITLE — WHOOPOW
sassy: why would they tell all of this? Always thought they would keep it hush hush
Millionday: I DONT KNOW
quicktolegit96: in your opinion do they only have one thing left to do…
Millionday: IMO — THIS COULD HAPPEN AT ANYTIME
7shiela: I think you just answered my ? I was going to ask if this means we’re at the end of the line and we’ll get a rate now?
Millionday: THIS CONFERENCE IS TO SET THE INTERNATIONAL RATES — WHEN OR HOW MUCH I DONT KNOW THOUGH HUN
Millionday: THERE IS NO WAY TO KNOW MORE THAN WHAT IS IN THIS INK BUT IT SURE IS EXCITING — WHOOPOW
quicktolegit96: when is the conference again?
Millionday: THIS IS ALREADY DONE
Millionday: HERE IS MORE ON IT
Millionday: The joy of pumice in a move aimed at supporting government reforms recently launched, plans and ensure its implementation aspects, Iraqi Economists Association held an economic seminar dealt with the obstacles and difficulties that stand in achieving the goals that serve the interests of citizens.
And participated in the seminar which was attended by «morning» elite group of economists and businessmen, investors, academics and specialists in economic affairs, which dealt with two papers to members of the board of directors, Rphit discussions extensive and wide of the participants.
Millionday: NOTE —OBVIOUSLY THIS IS THE SAME SEMINAR AND ABOUT THE ECONOMIC REFORMS
Millionday: The Deputy President of the Assembly expert on behalf of Antoine in his paper about the need to bring the elite economic and competencies which has a deep vision of the crises the economy and her experiences in the formulation of plans and strategies implemented and have contributed to addressing crises local, Arab and problems and her international contributions to the organizations and conferences that will provide solutions and treatments to the economic crisis the country is experiencing.
Millionday: NOTE — THE ISSUE THEY ARE DISCUSSING IS THE LACK OF THE ECONOMIC REFORM AND THE THE SOLUTIONS AND TREATMENTS TO THE ENTIRE NATION ECONOMICALLY THIS WILL RESOLVE
Millionday: NOTE — NOTICE THAT THEY ARE DISCUSSING THE FORMATION OF THE PLANS AND THE STRATEGIES IMPLEMENTED
Millionday: and saw Antoine said government reforms touched segments of the middle class, in While it did not benefit the poor class in society, saying that corruption is still contributes to block any effort or investment activities pertaining to the productive sectors. ‘
The Deputy President of the Assembly on the need to contribute to the government and the competent authorities in support of the productive sectors, especially agriculture and industry,
which will resurrect many professions and operation of hundreds of thousands of manpower, as well as the security and political side processing down to the reforms touched and felt by the citizen.
Millionday: NOTE — THEY PLAN ON MAKING HUGE EFFORTS TO HELP THE LOWER CLASS
Millionday: For its part, a member of the association management expert Dr. focused. Akram al-Aqil in the research paper during the seminar on the proper application of the reforms optimization and implementation, which should ensure Bstratejah studied scientifically,
especially as the Iraqi citizen suffers from several aspects of the most important service, economic, urging at the same time that paint a strategic features of the Iraqi state and the foundations built and try to re-Iraq to the ranks of economically powerful countries.
Millionday: NOTE — THE ACTIVATION OF THE IRAQI REFORM IS EXPECTED TO PUT IRAQ BACK IN THE RANKS OF ECONOMICALLY POWERFUL COUNTRIES
Millionday: Agreed Al Aqil with Antoine in the comprehensive economic reform is to address the crisis in terms of the best investment for the oil sector and its derivatives and petrochemicals industry, as well as immediate support for agriculture and local industry, and the revitalization of religious tourism.
She said a member of the Board of Directors that each sector productive linked to activating the other, lead to treat many of the most important crises in the country, crises in housing and unemployment that hit the Iraqi society, especially that Iraq is a country rich in resources, but it needs to be a safe environment and seek to resolve the political and security problems being affected negatively in the Iraqi economy.
Millionday: NOTE – THE ECONOMIC REFORM IS SUPPOSED TO ADDRESS IRAQ`S ECONOMIC CRISIS AND RESOLVE — THE NEED FOR DIVERSITY
Millionday: And it pointed to the need to pause to review the economic reforms recently announced by the Government, through the implementation of a proper manner that achieves the stated goals who wants everyone access to it,
as well as studied extensively committees specialized scientific competencies and economic participation of the public and private sectors, recommending to stay away from everything It affects the income of the Iraqi citizen.
And he saw that the imposition of some types of tax revenues and to try to bring the expense of the citizen may generate implications for Atsb interest in reforms, but it is necessary to activate the legislation and laws and decisions commensurate economic and global developments and modernity.
Millionday: SO AS WE SEE — ALL LEGISLATION– LAWS — ETC ARE TO BE ACTIVATED ALL AT THE SAME TIME
BUT — THE TAX REVENUES ARE TOO HARD FOR THE POOR SO THEY WONT BE FOLLOWING THE ORIGINAL PLAN — OBVIOUSLY – THE CHANGES I DO NOT KNOW
Millionday: ANY ?? COMMENTS — WHOOOPOWS
Pablo: Did I see you mention a 91 day timetable earlier? If so, when was the starting point?
Millionday: I FORGET THE DATE IT BEGAN
ann4: They mentioned lets “pause.” What is the length of pause mentioned; or did they break for bathroom; or re adjourned?
Millionday: WHERE ?
Millionday: THIS IMO —- IS ABOUT THE TAXES AND ITS IMPACT ON THE CITIZEN AND THE CHANGES OF PRICING ETCV — THEY WANT TO FOLLOW ALL STEPS SO THAT THE RESULTS ARE AS THEY PLAN
Millionday: IMO — IT MEANS TAKE THEIR TIME — NOT STOP OR ADJOURN — WE WILL HAVE TO SEE HOWEVER — IMO IT IS JUST IN THE TRANSLATION
Tex1: What is happening during the 91 days?
Millionday: THAT WAS THE TIME GIVEN FOR THE AUCTIONS THAT WERE TO BE HELD FOR THE CHANGE TO THE REMITTANCE SYSTEM
skyline28580: what’s going on with Dinarcorp? I mean are we going to be able to cash in with them???
Millionday: I M SORRY HUN — I DONT KNOW
skyline28580: just curious.
Millionday: I UNDERSTAND — I JUST DONT KNOW WHAT IS GOING TO HAPPEN
quicktolegit96: when do you see the budget being passed?
Millionday: THE BUDGET HAS BEEN SIGNED ALREADY HUN
Millionday: Mustafa al-Hashimi under inflation of the public sector there is a need to adopt programs and initiatives to guide young people towards working in the private sector after his support of legislation and laws and provide the advancement of its present requirements, since it is necessary to create opportunities and jobs through small and medium enterprises . In this context, economic researcher Maha confirmed Ahsan thanks to the establishment and revitalization of small and medium enterprises would greatly reduce the reliance on the provision of wages and money from government jobs.
Millionday: She thanked in an interview for »Sabah» that in the light of the economic situation the country is experiencing, from is essential that the focus is on generating financial profit projects in order to ensure the sustainability of the project and provide services to the community.
Millionday: NOTE — THIS IS THE RESULT OF AN APPLIED MARKET ECONOMY THEY ARE TALKING ABOUT AND THE EXPANSION OF BUSINESS
Millionday: She called thanks to speed up investment in human resources working in the social service sector, especially the service sector comes into contact with the public life directly, stressing the need not to adopt a random or short projects -term quick and limited impact,
it must be a project for many years and the long Baad.opent importance of the institutions that focus on sustainability projects are being will contribute to the investment of human resources on the one hand, and community service on the other hand.
Millionday: NOTE — OBVIOUSLY THEY WANT ALL TRADE AND PROJECT AGREEMENTS TO BE ACTIVATED SO THAT THEY CAN SUSTAIN THE COUNTRY`S ECONOMY
Millionday: She explained that the main reason for the tendency of young people to government employment is a continuation of salary and ensure retirement,
Flo was activated labor law in the private sector will see some kind of cooperation between the public sector and the private, mixed and cooperative to regulate the labor market to achieve full employment and development of human resources 0
acknowledged labor law in Iraq in mid-August in order to regulate relations work between workers and Osyahab work and their organizations to protect their respective rights and sustainable development based on social justice and equality and securing decent work for all without any discrimination to build the national economy.
Millionday: NOTE — OBVIOUSLY THIS IS GREAT AND IS ALL ABOUT THE ACTIVATION OF THE DEVELOPMENT PROGRAM
Millionday: She economic researcher to the need to re-examine the level of wages to provide an attractive investment environment and encourage the work of the private sector and reduce the unemployment rate.
She said that the public sector too bloated and suffering disguised unemployment, at a time when we see averse clear in employment in the private sector reason to make the level of wages in Iraq competitive to attract the maximum amount of the investment companies, whether foreign ones or local.
Millionday: NOTE — OF COURSE PART OF IT IS LISTED AS THE NEED TO BE COMPETITIVE
Millionday: She thanked it otherwise, the owners companies or enterprises will prefer foreign workers to the low level of wages relative to productivity reflected negatively on the unemployment rate.
Indicating the need for the government to be involved in the payment of all or part of wishing salaries to work in the private sector, adding that this trend would ease the burden and pressure on the public sector and the reduction of underemployment which most public sector institutions experiencing rates, and make way for the private sector to exercise its role in economic activity.
Millionday: SO AS WE SEE THE APPLICATION THAT WILL BENEFIT IRAQ WILL BE APPLIED THROUGH THE LABOR LAW AND AGREEMENTS OF PAY TO ALL FOREIGN AND LOCAL WORKERS
pinklady: All FOREIGN & LOCAL WORKERS…. WHOOPOW! Sounds Good!
Millionday: I AGREE — GREAT NEWS TONIGHT
Millionday: NOW WE WILL WATCH TO SEE WHAT HAPPENS — SOUNDS VERY ENCOURAGING FOR IRAQ AND ITS REFORM TO THE NEW IRAQ IMO
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