Millionday Roundtable 4/10/15

by **RoyBoy** Fri Apr 10, 2015 10:27 pm

Millionday: Parliamentary Finance Committee attributed, on Friday, the reason for the high price of the US dollar against the Iraqi dinar to the text of the General Budget Law, which does not allow the sale of the central bank a day more than $ 75 million maximum.

Committee member Ahmed Sarhan In an interview with "The trend Press," said the text of the law under the central bank sales significantly from the sale of hard currency is the reason for the lack of supply and increasing demand, which resulted in a rush of traders and businessmen to buy it, which naturally led to high price He expected the stability of the dinar in a maximum period of two months.

Millionday: NOTE -- THEY ARE SAYING THEY ARE GOING TO MINIMIZE SALES AND EXPECT THAT THE STABILITY OF THE DINAR WILL BE WITHIN TWO MONTHS -- WHOOOPOW

Millionday: He added that despite this rise, but the central bank restricts this law and shall be obligated to sell a specified quantity of the dollar will contribute to the stability of the market and the Iraqi dinar, referring to it as passed by both Lebanon and Jordan from the oscillation problems at local currencies after their legislation to the law required banks to sell a certain amount of foreign currencies.

Referred to as the US dollar has risen significantly in front of the Iraqi dinar exchange rate, amounting to about 1350 to the dollar amid expectations of a height in the coming days.

Millionday: SO THIS WILL BE ADDRESSED BY SUPPLY AND DEMAND -- AND THEY WILL BE STABALIZING WITHIN THE MAXIMUM OF THE NEXT COUPLE MONTHS

Millionday: NOW THAT IS WHAT SHOULD BE EXPECTED -- MARKET ECONOMY -- SUPPLY AND DEMAND
==========================================

Millionday: NOTE -- OBVIOUSLY THIS IS GREAT TO SEE

Millionday: Hassan Khalati Wednesday that the general budget entirely dependent on oil imports must be to speed up the enactment of the oil and gas law, which ensures that regulate the relationship between the center and Iraqi Kurdistan.
Khalati said in a statement to the Agency / Source News / "The next Council of Representatives will see the inclusion of oil and gas law on the agenda for the purpose of reading and discussion by the political blocs."

Millionday: NOTE -- SPEEDING UP THE OIL AND GAS LAW ---OBVIOUSLY WILL BE THE BEST NEWS BETWEEN THE FED AND KURDS

Millionday: "The said law is important because it solves many of the dilemmas that exist between Iraqi Kurdistan and the federal government and between the oil-producing provinces and therefore this law will set the oil policy in the country, noting that" there is a wide interest by the parliamentary blocs to complete the enactment of this law, the fact that the state budget is based totally dependent on the proceeds of oil resources.
He Khalati that "the nuclear deal between the United States and other major powers and Iran would be in favor of Iraq and is in line with the aspirations of the stability and the start of a new chapter of harmony among different countries.

Millionday: SO KNOW THAT OUR FAVORITE WORD IS HARMONY AND AMONG DIFFERENT COUNTRIES IS OUR GOAL --- SO THIS IS GREAT -- WHOOOPOW

Millionday: REMEMBER THAT THE FINANCIAL ISSUES HAVE TO BE RESOLVED ACCORDING TO REPORTS -- SMILE
==================================

Millionday: He attributed specialize in the banking sector, on Thursday, the reason for the high dollar exchange rate against the dinar to the recent central bank own deduct customs duties and taxes in advance procedures, and called for a "freeze" the resolution, as expected continued decline in the value of the Iraqi dinar, stressed the need for the abolition of Article 50 of the Budget .

Millionday: The Iraqi Central Bank announced, in (17 March 2015), the adoption of a new mechanism for the payment of taxes and control the "money laundering" through the prepayment of taxes and customs of the goods entering Iraq, returned it will double the country's imports.
The bank decided in (28 March 2015) to meet 8% of tax rates and customs own Bokiem imports by private banks

Millionday: NOTE -- THE COUNTRIES IMPORTS DOUBLED ? WOW --- HAD TO BRING THIS TO YA

Millionday: Serafi said Ali Saad's banking district Harthiya in an interview to the (long-Presse), "The US dollar exchange rate went up to 1,340 dinars, because of the procedures followed by the central bank to increase demand and reduce the size of its sales."
Saad said that "the continuation of the central bank actions may result in the coming weeks to a large rise in the price of the dollar against the Iraqi dinar."

Millionday: NOTE -- OBVIOUSLY THE POLICIES THAT ARE BEING USED NOW ARE NOT THE GOAL AND A HUGE CHANGE SHOULD BE SHOWING ITSELF VERY QUICKLY --- THE GOV NEEDS TO BE REPLACED ---

Millionday: For his part, the Executive Director of Bank Union Muhannad Kassem said in an interview to the (long-Presse), "The rise in the dollar exchange rate is due to the new regulations followed by the Central Bank of Iraq to get individuals or companies on the hard currency to cover imports of goods", calling for a "freeze decision."

Millionday: Qasim pointed out that "the trader was formerly offers the amount of the Iraqi dinar and documentation required to get a dollar, but that the last instruction imposed on the merchant approximately 8% of the amount required to buy dollars in Iraqi dinars," explaining that "5% of the secretariats to calculate customs and 3% to account general tax authority.

Millionday: NOTE -- THEY ARE PREPARING FOR TRADE BUT NEED TO APPLY REFORMS OBVIOUSLY

Millionday: He denominator "after taking these taxes will rise the dollar on the merchant nearly 90 tiger and this means increasing the cost of the dollar in 1282, thus raising the price of the dollar," stressing that "this mechanism has been talked about among specialists in government departments and experts, economists and central bank Nearly a month or more and applied on 25 March.

Millionday: Qasim said that "the importers are getting on the dollar after the submission of documents and insurance after 15 days," expected "continued high dollar exchange rate if there is no change mechanism or at least freeze to search for other viable mechanism".
And the Executive Director of Union Bank that "the impact of exchange rate appreciation on the Iraqi market will be negative because the country relies B95% of its needs to import."

Millionday: NOTE -- AS I WAS SAYING --- THE COUNTRY NEEDS IMPORTS AND A MARKET ECONOMY --

Millionday: For his part, the Executive Director of the Association of Iraqi banks Tariq Ali said in an interview to the (long-Presse), said that "Article 50 of the federal budget for the 2015 law forced the Central Bank of Iraq to sell $ 75 million a day and is one of the reasons for the fluctuation of the dollar exchange rate."
Tariq pointed out that "the other reason behind the increase in the dollar exchange rate is the central bank's decisions on tax and customs deductions in advance," explaining that "these actions are correct but they must be applied gradually."

Millionday: NOTE --THIS MAKES IT OBVIOUS FOR THE FLUCTUATION --- SMILE

Millionday: NOTE -- THIS IS RELEASED TO THE CITIZENS -- IT MAY BE LONG -- BUT FULL OF INFO

Millionday: And invited the Executive Director of the Iraqi Central Bank to the banks, "the exchange rate returns to normal by injecting the dollar amounts of the private market and the Iraqi market needs more than $ 75 million."
It is noteworthy that the International Monetary Fund predicted in (21 March 2015), the high proportion of the deficit in the budget for Iraq in 2015 to more than the 12 percent announced by the government, due to lower oil prices, and the weakness of the possibility of Iraq's commitment to export 3.3 million barrels per day, and assume the budget,

Millionday: NOTE -- THE REFORMS CAN NOT BE IGNORED

Millionday: The proposed implementation of reform measures include strict austerity in investment projects, and a commitment to reducing expenses, and reconsider the limits of central bank sales of the currency, referring to the overall growth contraction, and the prospect of rising inflation slightly the end of this year.

Millionday: NOTE -- AS YOU WILL SEE -- SUPPLY AND DEMAND -- (MARKET ECONOMY)

Millionday: The current year's budget law, committed the Central Bank of Iraq, in paragraph 50, identifying sales of foreign currency (dollar) in daily auction ceiling does not exceed 75 million, with the exercise of justice in the sale, and claim the participant in the auction the bank providing the introduction of cargo documents and data Tax settling accounts and savings Alkmarki within 30 days from the date of purchase of the amount, and so it applies penalties stipulated in the Central Bank Act or regulations issued it, and use other banking tools to maintain the strength of the dinar against the dollar.

Millionday: SO THEY EXPECT TO MOVE FORWARD IN USING THE REGUALTIONS AND CENTRAL BANK ACT TO MAINTAIN STABILITY ---SMILE -- GREAT REPORT

Beth: What does this mean.... --- THE GOV NEEDS TO BE REPLACED ---?

Millionday: THE GOVERNOR OF CBI IMO

Beth: Oh ok. Thank You very much. I was praying that you would say that.

Millionday: THEY ARE COMPLAINING THAT SO MANY THINGS ARE BEING DONE THAT GO AGAINST THE IRAQI GOALS AND ALL SEEM TO COME FROM THE GOVERNOR OF CBI

slh5282: does this mean we would be dealing with Black Market dollars and this would not really have an affect on the rate or is this a real rate change?

Millionday: NO NOT BLACK MARKET DOLLARS -- THIS IS TALKING ABOUT THE ACTUAL COUNTRY ECONOMY -- THANK GOODNESS -- SMILE

rcookie: so are they stating a couple of months to return the rate from 1340? and if so starting from when?

Millionday: WE NORMALLY GET THE NEWS DAYS AFTER SO THEY ARE STATING AT THE VERY LATEST A COUPLE MONTHS

RML: Hi MD --
Do you see any legitimate rationale for Parliament continually putting off the HCL vote?
Is the resistance from the FED or the Republic?
Thanks.

Millionday: I AM LOOKING AND THINK I HAVE A REPORT ON IT BUT REALLY THINK IT IS A PARTY ARGUMENT TO BE HONEST BUT WILL LOOK FOR INK
Millionday: OR JUST TO ANNOY US
=======================================

Millionday: President Fuad Masum said publicly now at a historic moment to achieve national reconciliation in order to achieve the acceleration of the pace of victory over terrorism. "
The infallible in his speech on the occasion of the anniversary of the ninth of April and the fall of the dictatorship and the establishment of a democratic system transferred reporter (news agency, media / INA) , restores our people in such days the anniversary of the passing of dictatorship on the ninth of April 2003 and the beginning of initiating the establishment of a democratic federal state, and the restoration of this anniversary cherishing the history is still alive from the successes and difficulties faced by Iraq's march on the path of democracy and freedom and construction. "

Millionday: NOTE -- MASUM GIVING A SPEECH THAT THEY ARE PREPARED FOR NATIONAL RECONCILIATION --- SMILE

Millionday: He continued, "It was the completion of the era of dictatorship hateful most important episode in which Iraqis are accomplished in various political, religious, social, cultural, and with the help of the international coalition led by the United States joined forces with the support of civil and logistical many parts of the international community and the United Nations and its organizations."
The President of the Republic "Perhaps the success of our people in the shortcut and an end to the occupation and the restoration of full sovereignty are the fruit of an important and essential in the peaceful political process and in spite of all the efforts and hinder terrorism and violence and conspiracy in all its forms, which faced and is
still facing our people and our country more valiant challenge and will, courage." .

Millionday: NOTE -- THE RESTORATION OF FULL SOVEREIGNTY IS THE ANSWER FOR ALL PROGRESS --

Millionday: NOTE - IT IS SO UNCOMMON TO SEE SUCH A SPEECH FROM MASUM

Millionday: Masum said, "We have also managed to rebuild many of the structures and institutions of the state, which had been carved out by the reckless dictatorship policies and by wars and circumstances after the ninth of April, and we still have a lot of work, construction and legislation, which requires an extraordinary effort allow progress in the episodes that are late in this reason or another. "
And "will continue to strike hard against terrorism and the restoration of the remaining occupied towns and villages of the remnants of Daash and the liquidation of all the hotbeds of terrorism, extremism and militancy is at the forefront of the recovery of Iraq kits suitable climate for the construction, development and preparedness."

Millionday: NOTE -- OBVIOUSLY THERE IS A HUGE RUSH TO GET ALL DONE THAT NEEDS TO BE FOR THE COUNTRY TO ENTER THE MARKET AND IT IS TO BE GLOBAL IN ALL ASPECTS

Millionday: He explained, "does not have a choice but to move forward and no means only the promotion of victory and development success factors," he said. "We salute this occasion all those who sacrificed and have done and suffered for a democratic Iraq free federal, compassion and immortality to the martyrs of freedom and national dignity, and every year, Iraq and the Iraqis are fine, peace and well-being ".

Millionday: OBVIOUSLY THE GOAL HE HAS IN MIND IS THE RETURN OF IRAQ BUT IN A MUCH BETTER FORM --IT IS NOT HARD TO SEE THAT IRAQ NEEDS TO MOVE FORWARD AND THAT IS ALSO OBVIOUS WITH MASUM
========================================

Millionday: A spokesman for the Prime Minister's Office tributary Jabouri, that a high-ranking al-Abadi and a delegation will visit the United States next week to discuss a number of files.
He Jabouri that "Abadi will pay an official visit to the United States, where he will meet Alomerreqi President Barack Obama and a number of administration officials to discuss the development of relations between the two countries in various fields, as well as joint efforts to counter terrorism, and cooperation in the military and security fields and to provide support and reinforcement of troops Iraq in its war against Daash. "

Millionday: ABADI AND OBAMA -- MEETING FINALLY

Millionday: And reached the Prime Minister Haider al-Abadi Monday, to Arbil and was greeted by all of the region's president, Massoud Barzani, the president of the provincial government Nechirvan Barzani.

Millionday: ABADI WENT TO KURDISTAN AND MET WITH BARZANI ---
==============================================

Millionday: US Vice-President Joe Biden has given an upbeat assessment of Iraq's progress against Islamic State (IS) militants.
IS was "on the offensive everywhere in Iraq" eight months ago, but now their advance had been "halted", he said.
However, he urged Iraqi leaders not to lose the sense of political urgency that brought them to this point.
Mr Biden was speaking ahead of a planned meeting between Iraqi Prime Minister Haider al-Abadi and US President Barack Obama next week.

Millionday: NOTE -- BIDEN IS SAYING THAT SUCCESS IS THE WORD WITH ISIS

Millionday: Iraqi government forces recaptured Tikrit from IS last week after it fell to the militants in June.
Mr Abadi has named Anbar province, where IS and other Sunni insurgents still operate freely, as the next target.
Anbar, a heavily-Sunni area stretching west from the capital Baghdad to the Syrian border, is the country's biggest province. Most of its towns and cities are held by IS or other Sunni insurgents.

Millionday: Mr Biden said that IS militants had helped unite Iraqis.
"The irony of all ironies is that Iraq was actually helped [to] form its government because of [IS]."
Iraq's government under Mr Abadi had taken "promising" steps to reach out to Sunnis, while Iraqi and Kurdish forces had rolled back IS across the country, backed up by US-led air power, he added.
The rapid advance across Syria and Iraq by IS fighters last year threw the region into chaos.

Millionday: SO AS WE SEE BIDEN HAS MADE SOME VERY POSITIVE STATEMENTS ABOUT IRAQ RIGHT BEFORE THE MEETING -- THIS IS GOING TO BE VERY IMPORTANT OF COURSE SO WE SHALL SEE ---
========================================

Millionday: Iraqi Prime Minister Haider al-Abadi visited the city of Tikrit Wednesday, and wander the streets with a number of military leaders and local officials in Salahuddin province, and which announced that the Iraqi forces are preparing to restore full control of Nineveh and Anbar from the grip of the organization of the Islamic state Daash.
Ebadi said, speaking about the situation in Tikrit announced by the editor area last Tuesday, said that some areas of the city is still not safe because of mines and bombs planted by elements Daash to impede the progress of the Iraqi forces, pointing out that the engineering teams of the Iraqi army is working to "cleanse" those areas.

Millionday: And gave the Iraqi Prime Minister directed that the local police received in various areas of the province of Salahuddin, is responsible for security, and that recognizes the administration of the province to the board, pointing out that the reconstruction of areas devastated by the war Daash Fund will Salahuddin province.

Millionday: SO THEY HAVE HUGE HOPE THAT THEY ARE GOING TO MAKE HUGE BENEFITS WITH THE WAR AGAINST DAASH -- WHOOOPOW

Millionday: AS WE SEE - MEETING IN US OF A AND ALSO SUPPLY AND DEMAND APPLIED TO CBI REGULATIONS AND BANK SALES FOR DOLLAR

Papatom: do you have any comment on the article that showed the CBI issuing large coins....? and adding outlets for selling dollars????

Millionday: PAPA -- THE REPORT SAYS THEY MIGHT SO I WOULD LIKE TO SEE WHAT THEY ACTUALLY DO --- NOT SET IN STONE AND TO ME NOT A SOLID PLAN

Millionday: THANK YOU RUDIE AND ALL THAT HELPED -- WE WILL SEE YOU TONIGHT AT NEWSTIME AT 730 EST --