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Monday, April 8, 2019

DINARLAND HIGHLIGHTS, 8 APRIL

sandyf

[...in all the yrs! The rate has never been in the budget.]

You are quite right, there is no rate in a budget. Iraq, like many other countries and businesses, must publish their accounts and budgets in both local currency and USD so there is a rate of exchange between the 2 versions. As far as Iraq is concerned the rate makes little difference to their income revenue and the USD budget, whatever the rate they would still only get the market price for a barrel of oil.
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Bluwolf

...this blessing is about to start. Be ready with documents in hands...we are minute by minute in this with a view to receive 800 at any moment. Opening the coffers of change for the inside Monday to Tuesday of this week...The rates will be high...Victory times are coming up... Be...on alert...
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larrykn

Articles:
"Trade show kicks off to members of the Organization of Islamic cooperation with Baghdad.";

"Iraq: we hope to double bilateral trade between Islamic countries for more than 481 billion"


I like that they are getting all these trade deals together, this is a great start to the private sector we are all looking for.
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G-Lin

The Financial Management Law {FML} was voted on in Parl. already on Jan.13th 2019. It is very long and detailed and was posted on the Parl. site. It tells us at the bottom of this posting that it was enacted. The definition of enacted is: Make a bill or other proposal a law. However, in the...art... "Parliamentary Finance intends to develop mechanisms to maintain the stability of the dinar exchange rate"

...they say "the financial Parliament is keen to enact the law of financial administration". So...

...I'm not sure exactly why they are bringing it back. Will they add amendments? Will any additional amendments address a rate? Everything is guess work at this stage and I'm sure that's deliberate. They also changed the date on the introduction into Parl. again From Apr.10th to Apr. 17th. I'm hoping we will learn a little more between now and the 17th. So we wait. But I like the direction this is taking. They just held a seminar on the deletion of zeros and that is encouraging. They definitely are talking about it... 

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