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 "Sense of Finality" - Sun. AM KTFA Thoughts/News 1/20/19 DinarDailyUpdates?bg=330099&fg=FFFFFF&anim=1

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"Sense of Finality" - Sun. AM KTFA Thoughts/News 1/20/19

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Post by Ssmith on Mon Jan 21, 2019 10:00 am

KTFA

Samson » January 20th, 2019

Parliamentary Finance: allocate 10 trillion dinars for external and internal debt by the budget of 2019


19th January, 2019

Parliamentary Finance Committee announced Saturday, for the allocation of more than 10 trillion dinars external and internal debts of Iraq within the 2019 budget, indicating that he was raised to the emergency government 's budget to 200 billion dinars.

"The Iraqi budget for 2019 includes repaying debts abroad and inside estimated at 10 trillion and 792 billion dinars," a parliamentary source said. "Among the amendments that were made, raising the amount of emergency to the government to 200 billion dinars for the disposal of emergency matters and determined by the Council of Ministers."

He explained that "the budget obliged the Ministry of Planning and other ministries not to include any new projects in 2019 for the ministries that transferred their powers to them except for the strategic projects, which is determined by the ministry and within the powers of the Minister." LINK

The foreign ministry is likely to lead a delegation led by Saleh to Washington to exclude Iraq from sanctions against Iran

19th January, 2019

Suggested to the Foreign Relations Committee, Saturday, go high - level government delegation headed by President of the Republic , Barham Salih , to Washington to discuss the Iraqi government an exception imposed against Iran economic sanctions, as indicated that the government is able to reject sanctions and non - compliance with them categorically.

"The Iraqi government has the intention to go to Washington with a high-level delegation headed by Barham Saleh to discuss its exclusion from the US sanctions imposed on Tehran," said Amer al-Fayez, a member of the committee. "Iraq is unable to abide by sanctions because it is linked In Tehran with long borders as well as cooperation between the two countries in the field of energy and trade."

He added that "Iraq is able to reject the US sanctions imposed on Iran and not to abide by them categorically, but seeks to maintain its relationship with Washington and Tehran at the same time," noting that "the Iraqi government will not allow the regional differences or external and expose its international and economic relationship to risk."

And Fayez that "the government delegation will go to Washington during the next phase may be the date of launch after the completion of the cabinet cab remaining for Prime Minister Adel Abdul Mahdi and the adoption of the federal budget."

A new report by the International Crisis Group found that the results of the internal assessment conducted by the Trump administration that the policy of so-called maximum pressure on Iran is not working and has failed. The newspaper "Okaz" Saudi Arabia has revealed, earlier, the notification of Prime Minister Adel Abdul Mahdi, the US ambassador in Iraq that Baghdad can not be dispensed with Iranian gas and electricity. LINK

To avoid the fiscal deficit .. Will reduce the price of selling barrels of oil in the budget?

19th January, 2019

Parliamentary Finance Committee confirmed on Saturday that the sale price of a barrel of oil within the federal budget for 2019 will remain around $ 56 - did not change, while the world showed that the price of oil will rise in the coming days, and the new budget will enter into safety.

"The amendments to the federal budget within the House of Representatives did not include a change in the price of selling barrels of oil," said a member of the Committee Jamal Cougar said in a statement to the information that "the price of selling oil barrels will remain around $ 56."

He added that "the Ministry of Finance and economic experts told the House of Representatives that oil prices will rise in the coming days and the survival of the sale price of up to $ 56 will not cause a financial deficit," noting that "the current budget entered the safety and there are no major fears threaten the economy of the country or deterioration of its material.

The MP for the mass of Sawson Abbas Aliwi, on Saturday, the annual budget transfers to a committee of economists specialists to start from the study to prepare, because the previous budgets are traditional and prepared by simple staff. LINK

Popeye7 » January 20th, 2019

There is a sense of finality within this article.. As if we are ready to roll out the next phase in this monetary reform within Iraq... Which is of course the very reason why we have all invested in their currency...IMO Thank you finding, and posting it Samson..

Samson » January 20th, 2019

The Central Bank of Iraq and the objectives of monetary policy


20th January, 2019 by Samir Nusairi

Monetary policy has been and continues to be a vital issue in the country's economic life. It is a reflection of the general performance of the state and its seriousness in avoiding difficulties and emerging dilemmas and making them consistent with the goals set

Before 2003, monetary policy was an extension of the government's self-deception. Hence the need for radical reform of the Central Bank and the new law of the bank was issued in 2004 and its amendments in 2017, which affirmed independence and established its primary role in protecting the country's resources

That the task now is to comply with international banking and accounting standards and face money laundering and attempts to finance terrorism, which stand at the forefront of the challenges facing the Central Bank of Iraq.

It is also essential to ensure the safety of monetary operations through the sale of currency is essential in the performance of the Central Bank and the installation of principles and rules of dealing in the project in a healthy atmosphere of control and supervision

The preservation of the independence of the bank and enable it to perform its task without government intervention and make it an effective institution and guarantor of the interests of society as a whole

The sale of the currency needs a deep understanding in light of the large accusations against the bank without evidence to prove the existence of suspicions of corruption or money laundering or smuggling of currency. The proposition that the sale of the currency is a waste of public money is a description of the economic illiteracy of the relationship and that there are many countries exercise this process, one of the main functions of the central banks in the world

The Central Bank of Iraq exercises multi-dimensional functions. It is concerned with financial stability, managing the system of national payments, management of foreign reserves, licensing and monitoring of banks and financial institutions, and setting up preventive controls, in addition to other tasks related to issuing cash and publishing data, indicators and economic forecasts

A central task of the central bank is to manage monetary policy, which aims to control inflation, stimulate the economy, make full use of the balance of payments and achieve monetary stability

The achievement of the objectives of monetary policy depends mainly on the independence of the central bank. The independence here is the ability of the central bank to control and control the size of the monetary mass (as a fundamental element of monetary policy). Although the rules of central banks in most countries of the world, but this independence In real and practical terms subject to other influences and challenges, to varying degrees affecting that independence

Therefore, it is noted that the Central Bank was able during the years 2015-2018 to achieve the objectives of monetary policy at a good level, despite the challenges faced by the most prominent deficit in non-oil revenue and deficit in public budgets and deficit in the balance of payments and dealing with cash and the rise of cash in circulation to the limit of 48 trillion dinars And 77% of them outside the banking system and the lack of fiscal policy of the government and its expenditures are specific to the expansion of money supply and poor coordination between the financial and monetary policies and the weakness of the banking sector and the weak role of some monetary policy tools and their effects on the increase and decrease Monetary bloc and an average interest rate of the legal reserve and other important challenges is the decline in domestic investment and increased foreign savings due to the security, political and economic conditions

We can say that the Central Bank of Iraq exceeded most of the challenges by drawing up economic, scientific, technical, structural and structural policies and procedures that contributed to achieving its objectives in stabilizing the exchange rate, reducing inflation, rebuilding adequate foreign reserves and increasing the percentage of financial coverage and thus working in a team spirit to lead the national economy and achieve monetary and financial stability. Economic stability

Economic and banking consultant LINK

SissytheClown » January 20th, 2019

Well then. SHOW US THE MONEY!!! IMO

Moparman » January 20th, 2019

Pretty easy when you think about it, but you can't be on a program rate.

Samson » January 20th, 2019

Mohammed al-Hakim of the Economic Summit calls for the establishment of a commercial zone and the transformation of the border into an investment


20th January, 2019

Foreign Minister Mohammed Ali al-Hakim delivered a speech on Sunday at the ministerial meeting of the Arab Economic and Social Development Summit, which was held for the second day in Beirut, calling for the establishment of a commercial zone and the transformation of the border into investment.

"Iraq today has become a point of convergence, and its doors are open to cooperation and Arab integration in all its forms. It will play a pivotal role in supporting security and stability in the region and in building a common Arab-based system of relations," the Foreign Ministry quoted Al-Hakim as saying. Exchange of interests away from axes."

He explained that "Iraq's policy is focused on economic openness, extending the hand of friendship and cooperation to all brotherly and friendly countries, and building a network of economic relations and attracting large foreign investment."

He called for "the importance of achieving economic integration, the establishment of major joint economic zones, and the transformation of borders between our countries into investment areas."

He stressed, "We must work to find effective mechanisms, and applicable in the field of economic cooperation by encouraging joint investment of income-generating projects to eliminate unemployment."

"The continued economic deterioration in some countries of the region is a major challenge to security and stability," said Foreign Minister Mohammad Ali al-Hakim. "The provision of food security to our Arab countries is a key element in promoting joint Arab action to serve the Arab citizens." LINK
Ssmith
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