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Saturday, January 2, 2016

TNT CHAT UPDATE, 2 JAN

TNT : 

Dinara:  Frank26:  Why call it emergency. You will find it important for us to talk tonight before internet has them tomorrow. Frank26 KTFA

Mangelo: we want to give you some facts before you see it on the internet tomorrow

Dinara:  Frank asks, if tomorrow you were to wake and see headlines of articles: Iraq begins 2016 to cut it's currency against the USA currency how would you feel

Mangelo:  I want to ask you question, if tomorrow, if you wake up and Iraq said they are going to cut their value to the American dollar what would you think?

Dinata:  Not the direction of what we would want it to go. Makes him think of two words: China Syndrome

SassyD:  Iraq will begin in 2016 to cut its currency against the dollar -- 02-0​1-2016 --

http://translate.googleusercontent.com/translate_c?depth=1&hl=en&rurl= ​ translate.google.com&sl=auto&tl=en&u=http://www.ara.shafaaq.com/48000& ​usg=ALkJrhhD5U3ho3DuPrJoqWxdZCo8gVAENw

Dinara:   Frank says security is important and security is doing very well.

SweetGram:  Basically ~ Frank is saying when you see the rates lowered in the news ~ tomorrow on the internet ~ do not panic ~ they did not lower the EXCHANGE RATE ~ they are finagling the numbers only

AGAIN ~ the value of the dinar is not changed ~ tomorrow they will say 1198 he says we need 1190 for out turn…. sorry tomorrow 1182 is the rate they just picked ~ but value is NOT changed

FRANK says do NOT be mis- led they only changed the sell rate NOT the EXCHANGE
RATE so do not panic or be dismayed

RV0531:  frank said Iraq changed the sale rate, not the exchange rate

Sweetgram:  Frank says ~ auctions broken down to 2 parts ~ for the citizens ~~~ they can go to the banks and get 1190 ~ now ~ cash ~

Frank says if they open an account they get 1182 ~

Frank says ~ difference is physical cash or electronic money

Frank says adjusting official rate WITHIN the country ~

Franks says ~ they are working on the math ~~~ THE powers that can do that :)

Frank talking about the Iraqi stock exchange ~ money being made in country

Frank ~ IMF not in charge of rumors ~ auction side is all in Arabic

Frank ~ all of Iraq waiting for recalculations by the international community ~~~~~~~

Frank ~ the international community is working on the numbers ~ and Iraq is still waiting ~~~ like us

Frank ~ I WANTED TO PUT OUT THE FIRE ON THE INTERNET BEFORE TOMORROW ~ SO DO NOT SOUND THE ALARM

Frank ~ only the IMF is in control of the Iraq numbers ~ and it is coming to the end ~ look for tax and terrify in the next couple of days

Frank says walking stick will release an article shortly ~

RV0531: F rank had this emergency call because he thought the change in the adjusted sale rate would be misunderstood and upset the dinar community

SweetGram:  Frank ~ IMF said to Iraq adjust your rate ~ what else? increase the VALUE of your currency ~ IMF says Good ~ IraQ is waiting for the numbers from the IMF so we can have ours

SweetGram:  Frank is only trying to explain the IRAQ currency numbers ~ and why and what for ~ and to be sure YOU know that WHAT YOU SEE is NOT the VALUE

SweetGram:  Franks says the fighting in Iraq is having fighting because ~ THEY KNOW their money value WILL INCREASE ~ that is the bottom line on the fighting

SweetGram:  Frank says ~ IRAQ is doing EXACTLY what we want them to do to head us to their reforms ~ IT IS MORE THAN DATE AND RATE ONLY

SweetGram:  FRANK ~ IRAQ WILL ENTER THE INTERNATIONAL ARENA WETHER SOME WANT IT OR NOT

SweetGram:  FRANKS CALL WAS ABOUT THE ARTICLE AND THE NUMBERS ~ WHICH HAVE NOT AFFECT ON THE VALUE OF THEIR CURRENCY FOR US

SweetGram:  IT WAS ALL ABOUT THE NUMBERS THAT YOU WILL SEE ON THE RATE ~ DO NOT PANIC ~ IT HAS NOTHING TO DO WITH THE VALUE OF THE CURRENCY FOR US ~ JUST WHAT NEEDS TO BE DONE THE UP AND DOWN OF IT TO GET IN LINE WITH THE IMF FOR THE NUMBERS TO LINE UP FOR US

FBWalker: If I understood Frank26 correctly – Iraq’s announcement of raising the dinar rate from 1166 to1182 and now to 1190 is purely an in-country move to adjust rates for IMF compliance and also deals with the profits between the CBI, the banks and the street currency dealers. 

TravelingDan:  fbwalker, you are correct. they need to be within 2% of their street rate of somewhere around 1213

Cudbuck: fb...sounds about right...IMF required a 2% compliance fee difference between buy & sell...imo


Walkingstick:  BY REQUEST:

Iraq begins in 2016 to cut its currency against the dollar

Saturday 02-01-2016 | 12:35:45

Twilight News / fear the economic and financial circles Iraqi that leads the Iraqi Central Bank's decision to reduce the value of the dinar against the dollar as of yesterday, to the detriment of large slices of society, particularly those with limited income, in the event of rising inflation and the change of goods and prices of goods in the domestic market.

Predicted quarters exceeded the dollar exchange rate level set by the «Central» in his decision and of 1190 dinars to the dollar, as it exceeded the exchange rate is currently 1 400 dinars, which will weaken the purchasing power of citizens, as quickly prices will rise to levels that do not actually correspond to the differences in the exchange rate.

He said the Finance Committee in the House of Representatives member Ahmed Hama Rasheed The decision to reduce the value of the dinar against the dollar is not new, and was introduced two months ago, but Central has not been announced, but revealed gradually.
He added that «the parliamentary Finance Committee discussed ways to raise the value of the dollar without causing overwhelm the local market », pointing out that he called for the preparation of a comprehensive study of the file.

He explained that «the Commission prepared a study with a financial advisors about the lifting of government support for the dollar in the form of a gradual, and the coming days will witness changes in monetary policy, as there are benefits to be reaped from the government by reducing the value of the dinar».

She stressed the parliamentary finance committee member Majda al-Tamimi said in a statement that «the devaluation of the dinar against the dollar and other foreign currencies, is considered one of the alternatives for external borrowing, and allows the state to secure the employees' salaries and control over spending, and thus reduce the fiscal deficit».

Experts concerned and expressed other points of view, some of them stressed the importance of addressing the challenges facing the country now, especially since its economy depends on the proceeds of the single-supplement the annual budget.

And he saw the prime minister for economic affairs adviser appearance of Mohammed Saleh in a statement to «life» that «the decision to reduce the value of the dinar is part of the protectionist policies taken at the financial level, but must be accompanied by measures relating to the availability of a national industry activist with a rise in the pace of domestic production, as a substitute for importer and meets the need of the local market. »

He added that «the country is suffering from a cash shortage and flows of liquidity, not a shortage of other resources and energies and potential, there are many areas that require huge sums of money, including military operations against terrorism that drain huge sums, along with the need to monitor allocations for the reconstruction of the liberated areas, What increases the civil costs within the wheel of the national economy. » He pointed out that «the government has taken during the last period austerity measures, including stopping projects that have not achieved an advanced completion rates, and until such time as the availability of financial liquidity», stressing the need to support the international community for Iraq to help in the reconstruction of infrastructure in the liberated areas. He pointed to the international trends to provide financial grants by the United Nations to help Iraq to cross the stage is going through.

He stressed a spokesman for the Ministry of Planning and Development Cooperation Abdul-Zahra al-Hindawi said in a statement to «life», the need to resort Iraq to external borrowing to cover the deficit and financing for development and increase economic growth, which fell from 8 to 1 percent, and reducing unemployment and poverty. She noted the draft general budget for 2016 to the parties that the government would resort to borrowing them, including «International Monetary Fund» which will lend Iraq $ 1.2 billion, and »National Bank of Qatar» that Iraq will lend 1.8 billion.

He added: «It is natural to be the lenders conditions to ensure the recovery of funds, but some occur political for those conditions in a language, but in the end we have no choice but to get the loans to ensure the continued development wheel rotation, and perhaps it is useful to internal loans point to be considered it less burdensome on the economy, although the economic impact is less than that of Foreign because it is a transfer of purchasing power from the citizen to the government. »

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