AJ, IronMan and Stalemate chat

by Guest Fri Apr 19, 2013 2:43 am

Financial Parliament: project structuring currency premature

http://translate.google.com/translate?langpair=auto|en&u=http%3A%2F%2Furagency.net%2F

[AJ] Great find there IronMan!

[IornMan] I liked this part:

“She added that "the project need to come together and cooperation of all government institutions from the central bank and the
executive and the parliament to enact some laws, including the law of indebtedness, which guarantees the creditor the right to the amount that condemned after deletion of zeros."

[AJ] This part is pretty good as well. Pay attention to: "in the current term"

"said the draft restructuring of the Iraqi currency and the removal of three zeroes is a critical necessity for being a feasible
economic projects and large positive effects. Said Najib said in a statement yesterday that "the draft restructuring currency despite face challenges and difficulties, economic, security and political, but a feasibility great for the country, noting that" the project has become a necessity that must be implemented on the ground in the current term."

[IronMan] Yes, very good wording indeed.

[AJ] Najib said, "despite the security problems", is pushing to get the restructuring of Iraq's currency done ASAP so that the
economy can get moving in a more positive manor and a necessity. Why a necessity, in my opinion, the reasons there are such chaos in Iraq is because there are no jobs, no electricity and no basic needs. People are starving and need economic stability and the government is holding that back.

[IronMan] I just hope the pressure builds and builds and builds with that DFI date looming at the end of May. Will they show the world they can stand on their own two feet with a valuable currency...time will tell.

[AJ] We could write a book on how many times the DFI has come up and how many times the Iraqi government has said they were going to be responsible, but to a slow avail.

So she added; "She added that "the project need to come together and cooperation of all government institutions from the central bank and the executive and the parliament to enact some laws"

What laws on your mind do you think she is talking about?

[IornMan] AJ, I think it is the "law of indebtedness" as one of the last major laws that must be passed.

[AJ] Yes, that law is one of them, but there is the consumer protection laws among 109 other laws needing passed. They fall under the TRIPS agreements set by the WTO and fully implementing article 140.

[IronMan] One month seems like a short time to get all that done...yet I am still hopeful for May to July.

[AJ] I hear you there. In my opinion with the help of international organizations most of the laws are written, they just need to get them passed and implemented.

[AJ] Here is another good quote form the article: She added "managing the central bank earlier, led by Sinan Shabibi and the appearance of Mohammed Saleh brought this project to a decisive endings and negotiated with solid international companies”

In my opinion she is talking about how Shabibi and Saleh negotiated the securities measures on the lower denomination notes with an international company to produce them, so that counterfeiting would be curved.

[Stalemate] Yes, it would seem that way, but I also think that they want Shabs and his team back.

[AJ] In my opinion most of the Iraq government wants Shabibi back.....And to tell you the truth of the matter I believe this whole restructuring of the currency would have been done by now, including the RV/RI if it were not for Maliki's misdeeds!

[Stalemate] I have not been in this currency exchange long and I have to agree with you. S

http://ajanderson.forumotion.com/t34-financial-parliament-project-structuring-currency-premature