its reality time

Jayzze wrote:here is some facts unlike the gurus bull shit to give you false hopium. the election was back in oct and we are in april with no results now and in the horizon. you have malaki/iran against sadr and neither will give in do to the hatred of each other. the most likly solution will be new elections in the near future.malaki and the dawa part are doing everything to disrupt a new gov since  malaki wants to become the pm again and iran wants to make iraq a province of iran. while this is going on the new budget   waits for a new gov. so the bottom line is the citizens get screwed and all you sheep who think you are going to be millionaires shortly are going to get squat now and probably forever. in the mean time have a happy easter

Jayzze wrote:hey claude guess what prove what i said was wrong with facts?

claud39 wrote:

Jayzze wrote:hey claude guess what prove what i said was wrong with facts?

I agree with you on one point Al-Sadar does not want al-Malaki in the government, and the budget must be voted to see changes!!

You know very well my friend, that I follow the news on Iraq!!

In addition You have seen me apply every day on this forum for more than 3 years!!

  Do you really believe that I have changed my habits on my research on Iraq, quite the contrary!!!

My name is not RamblerNash!! I update myself every day, and I send my news to the private group with whom I share with them on Iraq !!

When I come to see on the forum, and it's been a few days, and I see that the latest news on the news on Iraq has been since April 15, I've already gone to share with the group the news of the day! !!

Well I go back to my land, and you see when I apply, the forum wakes up, good day Jayzze !!


Claud (Moose)

Economists call for the issuance of a new Iraqi currency reports

2021-06-24

Economists call for the issuance of a new Iraqi operation

Economists called for issuing a new currency for Iraq and linking it to a basket of currencies to maintain the stability of its exchange rate, without the need to remove zeros from the current Iraqi dinar. 

The financial advisor to the Prime Minister, Mazhar Muhammad Salih, confirmed today, Sunday, that the Central Bank of Iraq has developed a project to delete three zeros from the Iraqi currency in order to reform the cash payments system, pointing out that the implementation of the project needs two conditions, the first is price stability and global economic growth, and the second is appropriate stability in Political life.

Economic analyst Mazen Al-Ashekar, in an interview with PUKmedia , said that the idea is not to remove zeros from the dinar. We want to issue a new Iraqi currency, and the new dinar could be equivalent to 1000 dinars of the current dinar or more, and this is not a condition that it be linked to deleting zeros. 

He added, "A new currency must be issued for Iraq that is linked to a basket of currencies, as is the case in several countries in the Middle East, in the UAE, for example, the dirham has been linked to the dollar and its price has been fixed for about 20 years," noting that they suggested that the price of the new dinar be equal to 50 cents of the dollar, and 25 A penny from the Australian pound, and 25 cents from the euro and is linked to the euro, sterling and dollar basket, and in this case, the higher the price of these currencies, the higher the price of the Iraqi dinar, and the dinar will turn into a hard currency, and all government contracts will be signed in dinars and there will be no need for a currency auction that witnesses corruption and thefts."

Al-Eshaiker stressed that it is necessary to issue a new process to stop waste and corruption, and it is not necessary how much its price will be compared to the current dinar price, but the important thing is that it be linked to a basket of currencies, pointing out that “implementing this idea is difficult today because there is corruption, but when an honest person comes who manages The country, it can be implemented," stressing that "issuing the new dinar and canceling the currency shrine is a blow to the corrupt, and therefore it is difficult to implement this now."

For his part, economic expert Hammam Shammaa said that the removal of zeros does not achieve economic benefit, noting that the only benefit is to reduce the amount of banknotes in circulation.

Al-Shammaa added in an interview with PUKmedia , that removing zeros does not change the exchange rate system, suppose that 3 zeros were removed from the current currency, then each and a half dinar equals one dollar instead of 1500 dinars equivalent to one dollar, stressing that there is no economic return to removing zeros only achieves Ease of dealings, describing those who demand the removal of zeros in the patriarchs, indicating that the removal of zeros means an increase in costs for the state by issuing new papers from the currency, and the matter does not need to be done as long as things are going normal. 

PUKmedia / private 

[size=36]Al-Sadr refuses to hold a new meeting with the coordination framework and insists on the majority government[/size]

[size=30]Saleh and Al-Kazemi warn of the continuation of the political blockage in Iraq[/size]

claud39 wrote:I have translated the proposed currency exchange document.  Below are some key points...
The project to delete zeros from the Iraqi dinar and its economic justifications
 
 
 
 
AL GHAREE for Economics and Administration Sciences
2021, Volume 17, Issue 2, Pages 92-106
Abstract
 
 
M. Dr.. Yusuf Hakim Ghadeer
General Directorate of Education Babylon
The research deals with deleting the three zeros from the Iraqi currency using the term (redenomination), to confirm that the research deals with modifying the nominal value of the Iraqi dinar by deleting the zeros and not by reducing or partially substituting it.The Iraqi dinar has become in need of reform that will be removed at the end, especially after the presence of a monetary mass characterized by the abundance of zeros and low value, and it can be said through the most important findings of the research that the Iraqi economic environment has become ready for this project if the necessary will is available before concerned, as well as choosing the appropriate timing for this, as we will see in this research.
The importance of the research: The project to delete zeros from the Iraqi dinar is one of the most important projects in controlling
Optimizing the monetary mass and then enhancing the value of the Iraqi dinar, especially if it is applied in
The right timing.
 
 
The suitability of the economic environment for this project in light of the study of some international experiences. |
Research hypothesis: The deletion of currency zeros is a necessary step to support the Iraqi currency after the distortions that 2
It affected the economic relations” which was represented in the presence of a large monetary mass, the smallest, of little value in an insignificant manner
It is commensurate with the developments in the Iraqi economy. 
 
 
American researcher Lina put
Moseley has seven conditions and criteria that must be met around the economic, political and social environment so that the
Indicating the appropriateness of deleting zeros from the currency and changing them. The study included about seventy cases of deletion
Currency zeros for a number of countries in the world since 1960.” 
 
The study confirmed that the monetary mass is not commensurate with developments
This requires some legalization.
The study indicated that the economic, political and social environment of Iraq all point towards
 
Delete three zeros from the Iraqi dinar; The study also confirmed that the costs and benefits are also confirmed
 
 
It means that the process of deleting the zeros of the currency is to replace the old currency with a new currency with a replacement ratio
Investment The process of deleting zeros will encourage foreign investment. Hence the flow of heads |
 
money towards the local capital markets” after the foreign investor sensed greater confidence in the economic environment that “no”
 
 
Facilitating other procedures that support investment 
 
To show the extent of the success of the monetary authority’s mission in the process of deleting the zeros of the currency,” as each of (Mosley in
2005 “a bet in 2006) that the project to delete zeros from the local currency must take place in
An economic environment that includes the following criteria and conditions (81231121,2006.2005,80.2-3,No 051/1).
1 - The presence of high comprising then its slope and its tendency towards stability.
2- The decline in the local currency exchange rate and the expansion of the dollarization phenomenon.
3- The independence of central banks.
4- The country's commercial openness.
 
To reflect moderate levels of stability, which gives the monetary authority the appropriate opportunity to take
Its appropriate procedures in deleting zeros from the Iraqi dinar.
Second: The decline in the exchange rate of the Iraqi dinar and the expansion of the dollarization phenomenon:
Dollarization began to expand in the Iraqi economy three decades ago, as we find that the US dollar has become a means
A preferred payment for individuals in most local transactions, especially in the car and real estate markets
And wholesale trade of various goods and services.
Here it must be noted that dollarization “which means replacing the local currency in the performance of foreign currency.”
The various functions of money” express the substitution of any foreign currency, not just the dollar, for the local currency.
The phenomenon of dollarization expands as the ratio of (the local currency / dollar) rises.” As shown in Table (4) and Chart B
(2) The foreign exchange rate against the Iraqi dinar. 
 
 
Referring to Table (4) and Chart (2): We find the decline in the value of the Iraqi dinar currency in front of
US dollars during the study period; Which contributed to the spread of the phenomenon of dollarization during economic transactions
in the local market.
Therefore, the process of deleting the zeros of the local currency and initiating the new Iraqi dinar has become necessary to reduce
This phenomenon, which has become a prominent feature in the Iraqi economy, especially after the Central Bank decided to
In December 2020, the Iraqi dinar reduced the value of the Iraqi dinar against the US dollar by 9024
The exchange ratio becomes 1460 dinars / dollar » as a selling price approved by the Central Bank of Iraq for banks
 
 
The independence of the Central Bank is one of the most important conditions that must be met in the success of any possible action that it may take
The monetary authority, including the process of removing zeros from the local currency; Therefore, the countries of the world are increasingly turning towards |
The process of strengthening the independence of its central banks” due to the prominent role of this financial institution in achieving stability now
fiscal and inflationary pressures. 5
The Central Bank of Iraq, under Law (56) of 2004, obtained its independence after it was a
It serves as a (financial leverage) in the hands of the government to finance the general budget deficit.” Table (5) shows the degree of independence::copyright:
enjoyed by the Central Bank of Iraq. ‎
Table (5) Indicators of the independence rate of the Central Bank of Iraq Percentage
 
 
Through the data of Table (5), we find that there is an independence of the Central Bank of Iraq by 78? Which
An indication that the decisions of the monetary authority are under the functions of the central bank and that no party influences the decision-makers
The decision in the monetary authority is only a low percentage: which contributes greatly to achieving the success of the bank’s mission in
The process of deleting the zeros of the Iraqi dinar if it was done in a timely manner.
Fourth: The commercial openness of the country:
After the Iraqi economy went through a period of international sanctions until the year 73:;: we find that it witnessed a wide openness since the
 
 
Through Table (6), we find that the data confirms the openness of the Iraqi economy to the global economy, as well
This is confirmed by Figure (3).
As the values ​​of trade openness ranged between 96106.75 as a maximum in 2004: and 9045.40
As a minimum, in 2016” while the ratios remained convergent with each other, indicating a level of 12.
high economic openness,” which is an encouraging factor for the monetary authority to take effective measures to remove
Zeros of the Iraqi dinar
 
 
Conclusions and Recommendations 1
First: the conclusions
1 - Most of the countries in the world that have deleted the zeros of their currency have achieved success in facing problems 2
Economics such as inflation and dollarization” and reduce their negative effects on the economy and then restore confidence in their currency
National.
2- The project to delete zeros from the Iraqi dinar is one of the projects that support the Iraqi economy if it is done
Take the appropriate time to implement it.
3- The Iraqi economic environment is suitable for the Central Bank of Iraq to initiate the deletion process
Zeros from the Iraqi dinar if the necessary will and the appropriate timing are available by those concerned.
This is done through the economic criteria that have been relied upon by my agencies:
The high levels of inflation in the Iraqi economy during the first four years of the study
Its peak in 2006 when it exceeded 9053: then its decline as it began to decline until 2015, then its trend.2
Towards stability at low levels less than 901 during the period 2016 - 2020. p
p
- The depreciation of the Iraqi dinar, which had a prominent impact on the spread of the dollarization phenomenon in transactions
economics in the local market.
 
p
- The independence of the Central Bank of Iraq “which was clearly supported by the Iraqi constitution,” including Bank Law No.
 
56) for the year 2004. .
- The commercial openness of the Iraqi economy is broad in front of the global economy. 0
 
 
 
Second: Recommendations
1- Deleting the zeros of the Iraqi currency and renaming it with the name of the new dinar to replace the dinar with an exchange ratio of (1
New dinar - 1000 dinars).
2- The new dinar is traded side by side with the dinar to remove all circumstances that may result from similarities
Currency name.
3- It is preferable that the implementation date be from 1/1/2023 to 31/12/2023: and then keep
4- Issuance of a new denomination of (100) dinars, in addition to the issuance of coins worth (250 fils) and (500 fils).
and (1) new dinars. 
 
 

Economists call for the issuance of a new Iraqi currency reports

2021-06-24

Economists call for the issuance of a new Iraqi operation

 

Economists called for issuing a new currency for Iraq and linking it to a basket of currencies to maintain the stability of its exchange rate, without the need to remove zeros from the current Iraqi dinar. 

 

The financial advisor to the Prime Minister, Mazhar Muhammad Salih, confirmed today, Sunday, that the Central Bank of Iraq has developed a project to delete three zeros from the Iraqi currency in order to reform the cash payments system, pointing out that the implementation of the project needs two conditions, the first is price stability and global economic growth, and the second is appropriate stability in Political life.

Economic analyst Mazen Al-Ashekar, in an interview with PUKmedia , said that the idea is not to remove zeros from the dinar. We want to issue a new Iraqi currency, and the new dinar could be equivalent to 1000 dinars of the current dinar or more, and this is not a condition that it be linked to deleting zeros. 

 

He added, "A new currency must be issued for Iraq that is linked to a basket of currencies, as is the case in several countries in the Middle East, in the UAE, for example, the dirham has been linked to the dollar and its price has been fixed for about 20 years," noting that they suggested that the price of the new dinar be equal to 50 cents of the dollar, and 25 A penny from the Australian pound, and 25 cents from the euro and is linked to the euro, sterling and dollar basket, and in this case, the higher the price of these currencies, the higher the price of the Iraqi dinar, and the dinar will turn into a hard currency, and all government contracts will be signed in dinars and there will be no need for a currency auction that witnesses corruption and thefts."

 

Al-Eshaiker stressed that it is necessary to issue a new process to stop waste and corruption, and it is not necessary how much its price will be compared to the current dinar price, but the important thing is that it be linked to a basket of currencies, pointing out that “implementing this idea is difficult today because there is corruption, but when an honest person comes who manages The country, it can be implemented," stressing that "issuing the new dinar and canceling the currency shrine is a blow to the corrupt, and therefore it is difficult to implement this now."

 

For his part, economic expert Hammam Shammaa said that the removal of zeros does not achieve economic benefit, noting that the only benefit is to reduce the amount of banknotes in circulation.

 

Al-Shammaa added in an interview with PUKmedia , that removing zeros does not change the exchange rate system, suppose that 3 zeros were removed from the current currency, then each and a half dinar equals one dollar instead of 1500 dinars equivalent to one dollar, stressing that there is no economic return to removing zeros only achieves Ease of dealings, describing those who demand the removal of zeros in the patriarchs, indicating that the removal of zeros means an increase in costs for the state by issuing new papers from the currency, and the matter does not need to be done as long as things are going normal. 

PUKmedia / private 

Claud (Moose)