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Topics tagged under 81 on Dinar Daily DinarDailyUpdates?bg=330099&fg=FFFFFF&anim=1

Current date/time is Sat Feb 22, 2020 10:55 pm

Search found 7 matches for 81

"Beginning of the End" KTFA Thoughts/News 4/11/19


Iggy » April 11th, 2019

“Thousands of candles can be lighted from a single candle, and the life of the candle will not be shortened. Happiness never decreases by being shared.” – Buddha

[size=18]Don961 » April 11th, 2019[/size]

Apparently some news media publishers jumped the gun ... got their dates mixed up .. rascals !! ...here's the proposed schedule from the official Parliament site :

[size=18]Agenda of the session No. (11) Wednesday 17 April 2019[/size]

April 17, 2019

(Reading verses from the Holy Quran) 

First: Vote on the draft law of financial administration. (Finance Committee). (53 articles). 

Second: The first reading of the bill of the Information and Communications Authority. (Committee on Services and Reconstruction, Committee on Culture, Information, Tourism and Antiquities). (57 articles). 

Third: The first reading of the draft law of the Supreme Iraqi Navy. (Service and Reconstruction Committee). (17 articles). 

Fourth: The first reading of the draft law on the accession of the Republic of Iraq to the agreement of the Asian Investment Bank for Infrastructure. (Committee on Foreign Relations). (2 articles). 

Fifth: Report and discussion of the draft industrial cities law. (Committee on Economy and Investment). (21 articles).

Sixth: Report and discussion of the draft law of the first amendment to the Integrity Commission Law No. (30) of 2011. (Integrity Committee, Legal Committee, Committee of Civil Society Institutions and Parliamentary Development). (6 article).

The session begins at 1pm. link

[size=18]MilitiaMan » April 11th, 2019[/size]

He might what to get the name of the Law right and when it was enacted as well. lol ~ MM

"For the purpose of regulating the rules and procedures governing the financial and accounting management in the field of planning, preparation, implementation, control and auditing of the federal budget and directing all federal revenues to the public treasury to cover public expenditure and determine the link between the internal control units from the administrative and technical aspects and the mechanisms related to the implementationof budgets and the commitment of each implementing agency and determine the responsibility of the Ministry In addition to setting specific dates for the submission of audit balances and final accounts and adherence to the principles of the budget (transparency of the budget and the comprehensiveness of the budget and the budget unit) Annual budget and non-allocation) in the preparation and implementation of the federal budget and related matters in order to ensure macroeconomic stability and financial stability and strengthen the allocation of budget resources and improve the efficiency and effectiveness of spending and ensure the management of cash and optimize the quality of budget information submitted to the House of Representatives and the public. This law was enacted"

This below is from the TURK model. They have enacted the Financial Management Law (Financial Administration Law). It meets international best practices imo.. They are one in the same. imo

Today is the 10th of April. There is reason for them speaking of the 2019 Budget today.

The FML has specifics in the document that needed go be addressed on or before today. It has to due with reporting requirements and time lines set out in the legal document that has been enacted already. Thus, they apparently met that requirement.

My view is they may have met the requirement prior to paying the citizens starting Monday and on going through the 18th. Just before the ISX is to be linked with NSADAQ.

Funny how they decide to do that on a day the markets are closed being the 19th good Friday. Banks are open, Markets are closed. imo 

Here is something from the CC that supports the citizens getting educated. They are being told in articles about the pay between those dates and telling them they need two sources of Identification (Thumb Prints, if not already done, they need to go to exchange centers.) and the bank information of their choice. imo 

So with all this put into the picture, one may start to see what they have been doing for a long time. Financial Inclusion dates back to 2016, 2017, 2018 and now at present. See FA's. imo ~ MM

FRANK: "The world prepares for the IQD" ~ Frank26

FRANK: Walkingstick texted me. He texted me again about the crypto-currency: “Frank my understanding, Iraq is slated to attend this forum. They already have access to Cryto-to-Crypto Exchange, Blockchain, Life, etc. etc. He’s just pointing that out with the Crypto-currency, that they’re talking about it for the FUTURE of the Iraqi Dinar.~ Frank26

FRANK: Not right now. But for them to talk about it right now tells you a lot about where they are with the Monetary Reform. If they’re that far advanced, they’re beyond the RI, they’re just educating the people and they’re just telling them where to go get Article 2. If that’s where we are right now, NO WONDER THEY’RE TALKING ABOUT CRYPTO-CURRENCY! ~ Frank26

FRANK: Because they’re waaaay past the RI!~ Frank26 

"A currency reform must be supported by financial sector legislation. Existing legislation—including the law establishing the central bank and regulation of banks and other financial institutions—should be reviewed to ensure consistency with international best practices.

A law and regulations on the specific currency reform are also necessary, and other legislation—for example, governing accounting and financial reporting—may require updating.

This work can be supported by technical advice from the IMF and other countries’ central banks. Such technical assistance includes initial general guidance as well as detailed recommendations based on currency reforms in other countries." FA (final article) #81 imo ~ MM


[size=18]Clare » April 11th, 2019[/size]





[size=18]Rommy » April 11th, 2019[/size]

Quantum Leap:

If Fred Flintstone would have been given a choice to drive a new 2019 Cadillac or keep busting his toes moving that stone-age buggy --- of course he was smart enough to go with the Caddy! And the citizens will also choose the Caddy!

[size=18]Samson » April 11th, 2019[/size]

Iran, Iraq agree on Development of Joint Oilfields

10th April, 2019

Iran and Iraq have reached an understanding on the joint development of the Naft Shahr and Khorramshahr oilfields, Iranian Minister of Petroleum Bijan Zangeneh has announced.

Speaking on Sunday, during a visit to the Energy Industries Engineering and Design (EIED), an affiliate to the Oil Industries’ Engineering and Construction (OIEC), the official said:

“There are massive potentialities for expanding Iran-Iraq cooperation in oil, gas, refining and petrochemicals grounds, and Iran is ready to offer its capabilities to the Iraqi oil industry.”

He added that Thamer al-Ghadhban, Iraqi minister of oil, during a visit to EIED, learned about the capacities of the company, and it was decided that a joint partnership be established between OIEC and a similar company in Iraq in order to develop joint capacity utilization.”

The official further said that Iran had a lot of potentialities in the oil, gas, refining and petrochemicals sectors, adding: “Given the lack of development in the petrochemicals and gas industries in Iraq, there is a bright perspective for cooperation between the two countries.” He also said that Iran’s gas dues from Iraq stood at a billion dollars already.

Iran the only exporter of natural gas to neighboring Iraq, both members of the Organization of the Petroleum Exporting Countries (OPEC). LINK

[size=18]Integrity controls 15 billion dinars and officials and staff in Nineveh [/size]

2019/4/11 16:14

The Integrity Commission announced the seizure of 14 officials and staff in the office of the province of Nineveh; on charges of embezzlement and waste of state funds, revealing the seizure of more than 15 billion dinars were under their pledge.

According to a statement of integrity, the investigations department of the agency reported that the investigation office in the province of Nineveh carried out five arrests under judicial arrest warrants resulted in the seizure of 14 officials and staff in the province on the basis of the provisions of Article 315 of the Iraqi Penal Code. 

The department revealed that the bureau's staff seized 8 billion and 700 million dinars in cash, while seized 5 billion dinars dinars in the branch of one of the government banks, while seized the amount of one billion and 435 million dinars in the Department of Engineering of local administration in the Office of the province. 

The Department pointed out that the arrested persons are the chairman and members of committees composed of; for the purpose of withdrawing the amounts of the rural development section of the projects for the rehabilitation of roads for villages and rural areas and distributed among the sub-committees, indicating that the total amounts seized by the owners of the bureau's offices amounted to 57 billion dinars, Is in the process of tracking the remaining funds. 

She added that the records of the seizure of fundamentalist operations were conducted on the basis of memoranda of judicial control, and presented with the accused and funds on them and the seized criminal evidence and investigative papers to the competent investigating judge, who decided to arrest them on the basis of the provisions of the rule of law; to take the necessary legal action. LINK
by RamblerNash
on Thu Apr 11, 2019 11:43 pm
Topic: "Beginning of the End" KTFA Thoughts/News 4/11/19
Replies: 0
Views: 294

"Get the Ball Rolling" - Thurs. PM KTFA Thoughts, News w/ Frank26 2/28/19


McDan » February 28th, 2019

IMO I believe in Frank opinion the placing of Shabibi is for the USA and UNK in the transition of the Brex Change and to make sure the pound is handle correctly .

Shabibi is not necessarily connected to the MR of the Iraq Dinar , but we all know He know everything about the Mr and it surely won’t hurt having Him at the control of the Central Bank of Uk. This just my trying to let y’ll know what I tried to piece to gather what I think I heard Frank said . Don’t blame Frank I just wrote. What I think I heard .

Iobey777 » February 28th, 2019

Here is what I got from the call..hope it is OK with Frank for me to share.. Dr.S appointed by the IMF! IMO!this came from a verified news source! Dr. S is there!! there is a difference in the bank of England and the Central bank of England....read the article again!! IMO That's all I got from the CC!!

Edwww » February 28th, 2019

I did hear there is a difference between the Bank of England and the Central Bank of England --- at least that's what I thought I heard. Hope that helps someone.

Frank26 » February 28th, 2019

U HEARD CORRECTLY ...............(smile)

Alison » February 28th, 2019

I never openly disagree with Frank since I do not have access to the intel and teams he has. But now I am confused. Because it is common knowledge that the Bank of England IS the Central Bank of England. There is absolutely no difference or distinction. They are the same entity.

StephenMac63 » February 28th, 2019

What if there is a distinction between the bank of England and the central bank of England....now? Could brexit be the reason?

4Cash » February 28th, 2019

I really don't think this article is a good sign for Maliki. IMO Sadr has said from the very beginning he wanted justice serve to al-Maliki and it looks that way now!!!

Don961 » February 28th, 2019

Do not reconcile .. Sadr responds to the allegations of pressure Lebanese-Iranian rapprochement with al-Maliki

Wednesday, 27 February 2019 Baghdad - Writings

Do not reconcile .. So came the response of the leader of the followers of Moqtada al-Sadr after about 72 hours of statements by the leader of a coalition of state law, Nuri al-Maliki on his readiness to converge with the leader of the Sadrist movement.

As confirmed by sources close to Sadr himself, according to media reports on Wednesday, February 27, 2019, saying that there are no moves by the Lebanese Hezbollah or Iran to return water to its suburbs and end the differences between Maliki and Sadr.

The reports said that Sadr's desire to reconcile with al-Maliki, which is clear from the impossible conditions put by the leader of the Sadrist movement to the head of a coalition of state law.

Sadr's position in this regard has been announced through previous statements in which he stressed that he can not reconcile with al-Maliki unless the people of Mosul and Anbar and areas affected by terrorism, as well as the families of martyrs who have fallen as a result of terrorism, in addition to the return of looted funds and public rights.

Which is difficult to achieve, especially that Sadr also demanded that the responsible for that period to a fair trial, which means the trial of al-Maliki. link

Popeye7 » February 28th, 2019

And we know what they need to do to truly get the ball rolling within their country in order for this to succeed... (smile)

Samson » February 28th, 2019

Baghdad and Washington are looking to provide a safe and attractive environment for investment in Iraq

28th February, 2019

The Deputy Prime Minister for Economic Affairs and Finance Minister Fuad Hussein, on Thursday, with Joey Hood, charge d'affaires of the US Embassy in Iraq, to ​​provide a safe and attractive environment for investment in Iraq, while Hussein said that the Iraqi government is continuing to prepare plans to implement the government program as well as start planning and preparing a law Budget for 2020

"The Deputy Prime Minister for Economic Affairs and the Minister of Finance received the charge d'affaires of the US Embassy in Baghdad, Joey Hood and the accompanying delegation," said the press office of the Prime Minister in Baytan received, the Economist News, a copy of it, noting that "the two sides discussed during the meeting bilateral relations between Iraq and the states And the plans of the Deputy Prime Minister to head the Iraqi delegation to the meetings of the World Bank and the International Monetary Fund, which will be held next April in Washington, DC

"During that visit, the Deputy Prime Minister will meet senior officials from the United States, the international community, World Bank and IMF officials and hold meetings with US trade representatives on the resumption of bilateral trade and investment talks," the office said

"The two sides discussed providing a safe and attractive investment environment to encourage investors to work in Iraq, create job opportunities, eliminate unemployment, improve the level of services and construction throughout Iraq by activating the strategic framework agreement in the field of trade and investment, Companies and capital to work in Iraq and participate in reconstruction campaigns and services

"The Iraqi government is continuing to prepare plans to implement the government program as well as start planning and preparing the budget law for 2020 to ensure early coordination with all parties, institutions and governorates for the purpose of identifying the actual needs and building a balanced budget and economy and ambitious services benefiting the Iraqi people LINK

The Minister of Planning is considering the strategy of implementing new and ongoing projects with a number of local governments

28th February, 2019

The Minister of Planning, Nuri al-Dulaimi, on Thursday, with a number of provincial governors ways to overcome obstacles to the implementation of projects for the current year

The ministry said in a statement received by "Economy News" that the Minister of Planning presided over "an expanded meeting involving the governors of Baghdad, Basra, Babylon, Anbar, Karbala, Najaf, Diwaniyah, Muthanna, Wasit, Maysan and Dhi Qar, , Indicating that the meeting discussed "ways to overcome the challenges facing the implementation of projects in the governorates for the current year, according to the budget allocations of 2019, which allocated 70% of the projects ongoing implementation, and 30% of the new projects, Including municipal service projects, and the health and education sectors

Dulaimi stressed that "the importance of moving towards phased work plans, through which to support the implementation efforts, and monitor any delay in the stages of implementation of projects and the immediate treatment of them," calling on all local governments to accelerate the submission of their plans for 2019, By the Ministry of Planning, and start the procedures of disbursement and implementation, by the relevant authorities in the central government

For their part, the conservatives stressed "uniting efforts with the concerned authorities in the central government, to provide the best services to citizens LINK

MilitiaMan » February 28th, 2019

Clearly they are in the Complex phase of the MR and ER. The Ministry of Planning is guiding the way to reforms and reconstruction. The governors are meeting on disbursement of the 2019 Budget allocations. They are now looking to best serve the Citizens. Well, they will also need to allocate the Purchase Power they have been waiting for as well at this time.

The CBI spent a lot of money in 2018 on currency, imo. They also have not denied or told us the project to delete the zeros was on hold to date. Therefore, words like disbursement and and implementation is moving down the food chain so to speak. The governors of the provinces are meeting on the disbursement of money for projects.. Will they have been told how much money they will get in new money or old? I think not, to the latter!!

There was a recent meeting with the IMF and AMF in regard to regional payment systems this week, i believe. We have heard an indication from Frank that the meeting may have gone well in respect to Iraq. Iraq is apart of the AMF who whereby uses the AAD. The implications of them using the Iraqi Dinar in the basket, once Iraq is fully Article 8 and publicly stated may bode very very very well for us all not to mention the purchase power for the citizens they will get and to fund the much needed re construction efforts!

As we have seen an abundant amount of international trading partners in Iraq of late, and probably more so in Iraq than any other country in the world! Just because they haven't shown the new currency yet, does not mean this is a scam that is floated out there to hurt people, imo! Complex issues are just that. Most may not have the ability to understand that a New Currency Reform project is a difficult process in a magnitude of which very few people can understand or even have ever been fortunate to profit from. Complex:"

1. consisting of many different and connected parts." Thus, the variables to a new currency reform project of this magnitude takes time, effort and extreme coordination, and some luck even.. lol

So for those that suggest this is a scam should a) get educated or b) keep ones opinions on the matter close to the chest. It will be not only embarrassing when it is complete to have suggested that it is a scam, but, it will be a disappointment for ones life time mentally, spiritually and financially, imo So, those that are down and out, I hope this brings some peace today, as what is at stake is serious and risky as it gets imo.. Amen! !~ MM

P.S. I highly recommend to read Final Article #81


"Big decisions"

"The introduction of a new currency is not undertaken lightly. The motivation could be hyperinflation, exchange rate collapse, massive counterfeiting of the existing currency, or even war. Or it could be an intentional change—for example joining a monetary union, such as the European Monetary Union." ~FA 81

"Currency reforms are typically complex and risky: global experience confirms that a successful outcome is never guaranteed. The main ingredient in the successful introduction of a new currency is a strong commitment by the central bank together with the government to take the steps needed to ensure that the new currency is perceived as stable by companies, the general public, and the international community."

"Introducing a new national currency is a highly complex project, which requires a well-functioning accounting system. Throughout the various stages, tested systems must be in place for independent auditors to safeguard the integrity of the currency reform, by ensuring correct reporting and accounting of the currency exchange. Failure in this area is not only costly but also potentially devastating to the currency reform’s reputation.
by Ssmith
on Fri Mar 01, 2019 9:27 am
Topic: "Get the Ball Rolling" - Thurs. PM KTFA Thoughts, News w/ Frank26 2/28/19
Replies: 0
Views: 259

"New Phase" - Thurs. AM KTFA Thoughts, News w/ Frank26 1/31/19


Frank26 » January 31st, 2019

[size=18]KTFA KONA ....... WELCOME TO THE " NEW PHASE " .............(wink) [/size]

[size=18]Samson » January 31st, 2019[/size]

[size=18]The next stage will witness great economic openness on the regional and global environment[/size]

2019/1/31 14:16 

Prime Minister, Adel Abdul-Mahdi, said that "the next stage will witness great economic openness to the regional and global environment."

The two sides discussed "the most important items that were added to the law of the general budget 2019, and is likely to arrive in less than two days to the government and the Presidency of the Republic for ratification and start to apply." 

Al-Kaabi said that "most of the items added are subject to the availability of financial wealth." LINK

[size=18]BWS » January 31st, 2019[/size]

I'm just a pastor in Texas... but that sure sounds interesting to me...

[size=18]1mattc1 » January 31st, 2019[/size]

This is big!

[size=18]MilitiaMan » January 31st, 2019[/size]

No going back from here imo. We are going to get paid. imo. – MM


Dictionary result for ratification
/ˌradəfəˈkāSH(ə)n/ noun
the action of signing or giving formal consent to a treaty, contract, or agreement, making it officially valid.
"ratification of the treaty raised problems in several member states"

FA (final Article) #81

"Introduction of a new currency comprises four phases.

First, the necessary preconditions--sound macroeconomic policies and strong financial sector legislation—should ideally be in place or under way.

Next, careful preparation is required, setting up the policies and processes behind the reform and drafting a detailed budget for the entire currency reform (including the cost of printing and minting the new cash currency).

Then comes production of the new currency, and finally the most challenging phase: implementation."

[size=18]MilitiaMan » January 31st, 2019[/size]

Lets keep in mind the article suggests the Ratification is within two days.... real close.. imo. ~ MM

[size=18]Giants » January 31st, 2019[/size]

Can I say …..HOUSTON PREPARE FOR LIFTOFF!!!! 2,1...…

For a little more confirmation of all the news that's coming out the buy sell has stayed at its lowest levels in years. This is important because usually these rate tick up and they are now staying the same.....Not a coincidence!!!!

The dollar remains at the lowest price in Baghdad in a month

27-Jan 1193.500 1193.266
28-Jan 1193.379 1193.361
29-Jan 1192.368 1192.345
30-Jan 1192.480 1192.452

[size=18]Samson » January 31st, 2019

Iraq Ranked Last in Good Country Index

31st January, 2019

Iraq has been ranked last out of 153 countries in this year’s Good Country Index, placing it just behind Libya and Yemen. Iran was ranked 138th.

The idea of the Good Country Index to measure what each country on earth contributes to the common good of humanity, and what it takes away, relative to its size. Using a wide range of data from the U.N. and other international organisations, each country is given a balance-sheet to show at a glance whether it’s a net creditor to mankind, a burden on the planet, or something in between.

The creator of the Index, Simon Anholt, commented:

“Today as never before, we desperately need a world made of good countries. We will only get them by demanding them: from our leaders, our companies, our societies, and of course from ourselves.”

Top ranking went to Finland, followed by Ireland and Sweden. LINK

[size=18]Baghdad hosts the Iraqi travel market fair in mid-February[/size]

31st January, 2019

The Iraqi Travel Market Exhibition (ITM) for the period 16-18 February continues to be held with great international participation.

The exhibition, which is sponsored by the Ministry of Culture, Tourism and Antiquities, isattended by 18 countries from around the world. The number of participating companies reaches (70) touristic companies and tourism establishments. 

He pointed out that there is a great interest of tourism companies important regional and international Iraqi travel market, especially that the tourism movement in Iraq over the past years has done significantly. 

He pointed out that the organization of this exhibition comes to enhance the Iraqi tourism product as a safe tourist destination and put it on the map of world tourism. It is noteworthy that Iraq is characterized by tourist features integrated, both archaeological sites and religious shrines and medical and recreational tourism. LINK

[size=18]Central banks are gearing up after the biggest buying in 47 years[/size]

31st January, 2019

Central banks around the world raised their purchases of gold by 74% last year, registered the biggest annual pace of purchases since the suspension of convertibility of the dollar into gold in 1971

According to data released by the World Gold Council on Thursday, total purchases of gold by central banks increased by 651.5 tons to a total of 34,000 tons, the second highest annual increase ever

The increase in geopolitical and economic pressures was the reason why central banks boosted their reserves of gold in 2018.

Seventy-six percent of central banks believe that gold as a safe haven is of great importance, 59 percent say it is a catalyst for the portfolio, Their purchases of gold over the next 12 months

At the level of the most prominent central banks raised their purchases of gold last year, Russia was at the forefront as part of its policy of reducing dependence on the dollar, which bought 274.3 tons in 2018

This is Russia's highest level of annual purchases, and it is the fourth year in a row that Russia has bought gold at levels above 200 tonnes

In Turkey, its gold reserves increased 51.5 tonnes last year, but the increase was less than the 85.9 tonne in 2017

In Kazakhstan, the central bank increased its purchases of yellow metal by 50.6 tons to 350.4 tons

Although Turkey, Russia and Kazakhstan control the largest share of gold central bank purchases, their share of total purchases fell to 58% last year from 94% in 2017

In Europe, central banks increased their purchases of gold significantly in 2018, led by Hungary, raising its gold reserves to 31.5 tons, the highest level in nearly 30 years

In Asia, India was also one of the biggest buyers as it began buying in March and rose in the second half, bringing its total gold purchases by 40.5 tons LINK
by RamblerNash
on Fri Feb 01, 2019 11:01 am
Topic: "New Phase" - Thurs. AM KTFA Thoughts, News w/ Frank26 1/31/19
Replies: 0
Views: 342

"The Next Phase" - Thurs. AM KTFA Thoughts/News 11/1/18


MilitiaMan » November 1st, 2018

FA (Final Article) #81

The next phase of currency reform is the conversion from old cash currency to new. The authorities must decide—at first privately—when the currency exchange will begin, when it will end, and whether or not to cap, in absolute terms, the amount to be exchanged.

Then, decisions on the announcement of and publicity for the currency exchange must be made.

Other essential decisions include the conversion rate and how financial assets, resident/nonresident accounts, and existing currency contracts will be treated in the currency exchange.


They tell us above that those in charge of MR must decide when the exchange will begin, when it will end, etc,. They also mention the conversion rate and how it will effect other things like currency contracts and how they are to be treated in the currency exchange. This is at the end of the process as noted in the Turkmenistan model. At this final phase is at the time when they first privately, then eventually publicly say when they will do it and at what conversion rate. Hence, we await the "" 2nd Article"".. So why do I bring this back up again? Well, today we see them talking about contracts.. Part of the final phase, imo.. That is why I do. Look at this below. Notice they have audit teams in place.. ~ MM

Integrity Economy comprises investigative and audit teams to monitor the performance of Abdul Mahdi's government

"The task of auditing and evaluating reconstruction, services and investment projects based on indicators of importance, contracting, financing, achievement, expected benefit, timing or any other indicators is entrusted to a team that performs its functions in coordination with the Federal Audit Bureau and the offices of the public inspectors. A specific mechanism that includes evaluation indicators and the identification of roles and responsibilities of target audiences.

To assess anti-corruption initiatives at the legislative level; to form a team to investigate, audit, evaluate policies and risk corruption in projects

Finally, the task of monitoring government performance and evaluating government policies and programs and the risks of corruption in projects and providing anti-corruption initiatives to a team that performs its functions in coordination with the Federal Audit Office. The offices of public inspectors are committed to implement the requirements of its work. Partnerships with the Commission in order to complete the tasks entrusted to it. As stated in the statement, and authorized the above-mentioned teams to form committees in such circumstances. LINK

Minister of Oil of the Euphrates: So we will deal with the contracts of the region

Ghadban said in a special statement to the {Euphrates News} "has been held discussions between the province and the federal government on these contracts, and without a doubt the region is an integral part of Iraq is a democratic federal country." "These contracts affect and have a significant impact on the national economy and the situation of the country and must be resolved," adding that "all the problems that can be faced by reaching the best solutions." LINK

Kurdistan Region surprised Baghdad by an unprecedented decision !

The are dealing in long term contracts for employees, that couldn't be paid apparently in time past, but subsequently will be adjusted for 2019." LINK


On a slightly different path we see working in conjunction with Iraq, we did see the AMF with Iraq that ended a 10 day meeting on this last Thursday . It was between Iraq and the AMF among others like the IMF, WB, BIS, etc.. Why is this all important.. Contracts. The AMF (22 countries) , Kuwait, USA, Great Britain, Japan, Korea, etc., were working on imo valuation of the REER to use for to adjust contracts. Very important part of the final process.. They need to establish Fair Value for pricing goods and services. ~ MM

"REER tells you how much of one country’s goods you could buy with the goods of the countries it trades with, at the current nominal exchange rate (NER). As such, the REER is a gauge of how competitive an economy is relative to its trading partners." ​


Well look at who has a contract or an agreement with the AMF. Booze Adam Hamilton does.. ~ MM

"A statement issued by the Arab Monetary Fund (AMF) said that "a consulting services contract was signed with Booz Allen Hamilton to provide technical advice to the Fund to help fulfill the requirements of the implementation phase.

Services ". "The Arab clearing system aims at enhancing the use of the Arab currencies in clearing and settling Arab inter-payments, in addition to major international currencies, which helps to reduce the time and cost of clearing Arab financial transactions and enhancing Arab investments and trade."

He pointed out that "the system seeks to link with payment systems of the main trading partners of Arab countries. It will also work on the development of clearing and settlement services of small payments, which will contribute to enhancing the financial coverage in the Arab countries, as well as studying the possibility of providing clearing and settlement services securities between the Arab countries, thus helping to link the Arab capital markets and enhance opportunities for financial integration Regional "level.

It should be noted that the Fund cooperates in the implementation phase with central banks and Arab monetary institutions, and with international financial institutions such as the IMF, the World Bank and the Bank for International Settlements. It also communicates with Arab financial and banking institutions as well as a number of strategic partners from financial and technical institutions. In this context, the Fund continues to work with the central banks of the Arab trading partners. Al-Humaidi also noted "the great support provided by the Board of Governors of the Central Banks and the Arab Monetary Institutions for this project. He also praised the support and support provided by the authorities in the UAE and their keenness to provide all the necessary inputs to complete the establishment and operation of the system.
For his services. " link


So with all that said, we have witnessed them telling us just how far they have come in the process of Iraq being put into the AMF Basket of Currencies which will be an internationally accepted. WS told us last Thursday many of those aforementioned above who value countries currency were all together in Iraq and they were successful in their efforts with the REER. That was ending a four year process with the USD only. On Monday this week (imo) WS said, " Today, weighed to a basket." That basket is with the AMF.. REER is time sensitive to price fluctuations, therefore, since apparently Monday was to a basket, that will have effects or consequences if they set the REER and it is not activated in a short period of time. As the risk becomes greater over time. imo. Something they will manage and watch closely, hence we heard of them having a potential hard peg.. imo ~ MM


Walkingstick » November 1st, 2018

"Frank... per con: SNIPPET:
"Iraqi Central Bank's march over the last four years proved"
Tried, tested.. successful = (reer)" ~ WS

WS post 20 page 1
"ftti ...Yep, keeping in mind... Iraq's (NEER) & (REER) of past... (Both, having appreciated greatly over of the course of 4 years) was weighed, against.... the USD, only... Today, effectively weighed... against, a basket. Regards...." ~ WS


The actual REER is a bit like the price of an asset. It is useful information only when you also have a view on the fair value of the asset. To arrive at an estimate of a fair value to compare against an actual REER, investors must develop a model of how REERs fluctuate over time in response to a range of economic determinants. In analyzing the determinants of long-term emerging-market REERs, it is common to use “panel data” (from multiple representative countries across time) to try to find common denominators.

From a long list of potential variables, one can empirically observe which come out strongly and which don’t.

"What makes valuation so tricky in emerging currencies? Firstly, few investors buy “pure” exposure. For the most part emerging markets currencies are bought as a “package deal” via emerging equities or local-currency bonds, bringing additional exposure to equity risks, sector risks, issuer credit risk and interest rate risk.

Secondly, as we showed in our “Staying Local” paper last year, emerging markets currencies also carry some exposure to the G3 currencies, as many are implicitly or explicitly managed against the dollar or euro, given economic links.

Samson » November 1st, 2018

Deputy: Budget surplus will go to increase the salaries of the crowd and the launch of grades

1st November, 2018

The deputy of the construction coalition Walid Abdul Hassan, on Thursday, that the federal budget surplus for 2019 will increase the salaries of employees of the popular mobilization and the launch of grades for graduates.

"There is a parliamentary movement within the House of Representatives to calculate the surplus of the federal budget for the year 2019 in increasing the salaries of the popular mobilization fighters equal to their peers from the army and police," he said, pointing out that "the other part of the surplus will go towards the launch of grades Career of graduates ".

He added that "the budget surplus will be a large size and able to provide employment opportunities and appointments to reduce unemployment," noting that "the parliament will press heavily on the government for the purpose of allocating grades within the federal budget for 2019."

The MP for the Alliance of Surat Magda Tamimi has revealed, on Thursday, the arrival of the budget in 2019 to the Presidency of the House of Representatives, but did not officially turn to the deputies for the formation of parliamentary committees, especially the Finance Committee.

The MP for the reform alliance Abbas Alioui has revealed, on Wednesday, the determination of the House of Representatives to include 60 thousand additional functional grades to the budget next year, noting that the previous government failed to find jobs for citizens, despite the presence of a significant shortage of movement of the owners. LINK

Iran plans to send 10 million visitors to Iraq

2018/11/1 0:41

Iran is planning to send 10 million visitors to Iraq in the coming years to participate in the 40th visit, Interior Minister Rahmani Fadhli revealed.

"We are planning to build a huge bridge linking Khorramshahr in the province of Basra to facilitate the passage of visitors."

More than two million Iranian visitors participated in the fortieth visit, which ended Tuesday in the holy province of Karbala. LINK

Governor of Dhi Qar calls for the payment of dues of his province of petrodollar

1st November, 2018

The governor of Dhi Qar Yahya al-Nasseri, on Thursday, called on the central government and the House of Representatives to be fair to the province and include its dues in the petrodollar, which has been stalled for years

"We call on the central government and members of parliament, especially representatives of the oil provinces, who have been wronged not to exchange the petrodollar budget for previous years to consolidate their position and work to approve their dues within the budget of 2019," Naciri said in a statement read by the economy news

He added that "the local government in Dhi Qar is still waiting for the remaining amounts of petrodollar balance arrears for the years 2015 - 2016 - 2017 - 2018 so that we can refer the service projects approved by the various administrative units

He added that "Dhi Qar has funds Petrodollar frozen for years and has not received any amount so far within the investment budget, and without any real gesture of the central government to be disbursed or classified at least within the debt quickly funded by the central government

He stressed that "must find solutions and real treatments for the debts of the provinces and seek to overcome the effects of the financial deficit caused by the economic crisis and led to the cessation of most important service projects in all governorates LINK

Iraq is among the developed countries in Snape Chat ads

2018/10/31 22:12

The Digital Media Center said that Iraq is at the forefront of countries with the highest target audience for advertising on Snape Chat.

The Center said in a statement received by the agency {Euphrates News} a copy of it, "According to the statistics of the site HotSot and VRSocial, the United States ranked first in terms of the most targeted audience ads Snab Chat, 109 million users, and France by 20 million users , Britain with 19 million users. He added that "Iraq ranked second in the Middle East after Saudi Arabia, and 15 in the world by 4 million and 600 thousand users."

The center pointed out that "Iraq came in this position despite the difficulties in registration processes within the fields {business accounts} and the use of a local phone number, which prevent users from creating and promoting ads on the Snapehat easily, if available to connect Iraq to the ranks Advanced " LINK
by Ssmith
on Fri Nov 02, 2018 9:35 am
Topic: "The Next Phase" - Thurs. AM KTFA Thoughts/News 11/1/18
Replies: 0
Views: 373

"High Level Show and Tell" - Sat. PM KTFA Thoughts, News w/ Frank26 10/13/18


Walkingstick » October 13th, 2018

opinion piece .....

Financial expert: Deleting zeros from the currency is a correct procedure .. but not at the present time

confirmed the financial expert Safwan Qusay Abdul Halim, on Saturday, that the current economic situation does not allow the implementation of the project to delete the zeros of the currency attributing this, the conditions of the unstable Middle East and the possibility of a local currency are illegal looking for a way to enter the system Local banker.

"The Central Bank of Iraq is trying to restore confidence in the Iraqi currency and the introduction of the international currency market and facilitate the task of calculations by deleting zeros, stressing that the current economic situation is not allowed because of the unstable conditions in the East Middle East and the possibility of illegal domestic currencies looking for a way to enter the local banking system. "

He pointed out that "the project can disrupt the monetary policy and the value of the Iraqi dinar, so the procedure to delete zeros is a correct procedure, but the current government to choose the appropriate time to replace the currency and transparent and subject to the highest degrees of control.

The governor of the Central Bank Ali Alaq announced earlier the existence of a plan to delete zeros from the local currency, noting that "this plan needs to deliberate steps, so as not to be exploited in the work of fraud."

Al-Alaq said in a press statement that "currencies with small categories, may lead the citizen to bid farewell to banks in the difficulty of storage."

"The central bank has a future plan to restructure the Iraqi currency, including the deletion of zeros, but this plan needs to take deliberate steps, and a stable situation in full so as not to be exploited in the work of fraud and others.


Sunkissed » October 13th, 2018

Your thoughts?

Walkingstick » October 13th, 2018

Nothing more, then ... a rumor, as the article states... The mindset of certain parties/ politicians that continue in their attempt to disrupt the monetary/ economic reform for their own personal gain ... coupled with members of parliament and others disputing the CBI Governor's signature on the notes .... Regards ..

MilitiaMan » October 13th, 2018

"The next phase of currency reform is the conversion from old cash currency to new. The authorities must decide—at first privately—when the currency exchange will begin, when it will end, and whether or not to cap, in absolute terms, the amount to be exchanged." Final Article #81

We see in the link and WS highlights above, effectively and clearly showing the phase we are in and FA81 supports it. They have chosen the appropriate time, as they video was apparently from the CBI as well as others out to the public. This is a step in the process of the roll out.

Diliberate steps are studied, known and on purpose. They facilitate the manner in which they are doing it by deleting the zeros from the exchange rate. Facilitate is to make easier.

The video describes and shows them returning small amounts of currency for large amounts, thus, as it is stated above the citizen to bid farewell to the currency because the large amount of notes requires storage, whereas, smaller categories require far less storage and not to mention that, they have been educated that their Ki cards will also save on the wearing out of the currency, so it is effectively cheaper into the future for not having to print so many.

That is also talked about in the FA thread, as well. WS as told us imo that the calculations have been done, and there may be support in the short term to show the GOI is in support of this and pronto.. Yesterday thread there is an article about Abadi talking about the 2019 budget to be done by 10/15/2018. The convergence of it all is fascinating imo ~ MM

Walkingstick » October 13th, 2018

Mawazine News / Publishes draft budget next year


Published / Mawazin News / draft draft law of the budget of 2019 approved by the government and sent to the House of Representatives.


Budget can be found by clicking on the following link:

ImWright1 » October 13th, 2018

Budget must have a rate...

MilitiaMan » October 13th, 2018

That is true, however, will they expose it to us this time? I would like to hope so! ~ MM

Walkingstick » October 13th, 2018

Iraq reaches "stability" after four decades of chaos

The appointment of Saleh and Abdul Mahdi as a moderate peaceful option

14 October 2018


Don961 » October 13th, 2018

University of Ceyhan to host a symposium on the Iraqi currency next Monday


Economy News Baghdad:

Next Monday, the University of Ceyhan will host the economic symposium "The Iraqi Currency", which will be presented by Dr. Hamam Al-Shamma.

An official source for "Economy News", "The University of Ceyhan will embrace next Monday the work of the economic dialogue seminar (the Iraqi currency what and what) and cast the international economic expert Hammam al-Shamma."

He stressed that "the lecture will be about the importance of enhancing confidence in the Iraqi currency in light of the major challenges facing the global monetary system as a result of the economic war between the major powers." He pointed out that "the workshop will be attended by high-level figures from various quarters link

Walkingstick » October 13th, 2018

F .... per con .. more/ expanded coming..Thanks Don.....

Frank26 » October 13th, 2018


Walkingstick » October 13th, 2018

No problem... we will save you a seat ..

MilitiaMan » October 13th, 2018

A high level show and tell on Monday, interesting. Timing of the 2019 budget that needs to be addressed by the HOR by the 15th, Monday. Confidence comes from a strong currency and 1190 is not strong, by any stretch of the means. An international rate (calculation) applied accordingly along with the new small categories with metals will do the trick, just as the economist told us that he doesn't mind the Alak signature on the currency, just get it to, or at least 1:1... lol ~ MM

Walkingstick » October 13th, 2018

These university seminars continue, to be expanded.. very shortly..

MilitiaMan » October 13th, 2018

So get the High-Level players done at the start, and then they can filter down information within the chain of command so to speak, is that it? ~ MM

Walkingstick » October 13th, 2018


The danger of illiteracy in Iraq has been raised

Sunday 14 October 2018

Illiteracy is the diminution of human dignity , not the dignity of the ignorant in reading and writing and is blind , and al - Atrash and k of lost sense of his senses , and the phenomenon is widespread illiteracy in society a serious scourge threatening its security and safety and to be aware of and deal with them wisely, and Iraq from countries that have recently been plagued by the spread of this dangerous phenomenon ,

and according to the latest release from the UNESCO report (United Nations Educational, Scientific and Cultural Organization ) that the rate of illiteracy in Iraq has reached more than 47%, and this ratio frightening must shake thrones and stir jealousy in the hearts of politicians with all denominated as t p d this ratio of the highest rates In the world, and this is due to several reasons, including the deterioration of economic, security, political and social Conditions.

The accumulation of wars, emigration, internal conflicts, displacement, physical destitution, low standard of living, and the failure of the government administration to manage the education file as a complete failure after Iraq was one of the best countries in the world in the file of combating illiteracy where he received five awards in 1979 from UNESCO after he was able to reduce The illiteracy rate is below 10% and surpasses countries such as Japan, South Korea, China, Singapore and Spain. Link
by Ssmith
on Sun Oct 14, 2018 7:53 am
Topic: "High Level Show and Tell" - Sat. PM KTFA Thoughts, News w/ Frank26 10/13/18
Replies: 0
Views: 351

"Getting Very Interesting" - Sun. PM KTFA Thoughts, News w/ Frank26 7/29/18


Samson » July 29th, 2018

A sign of the return of stability .. Solve the crisis cell and the formation of other reconstruction and services

29th July, 2018

Obtained on Sunday, 29 July 2018 on the document, issued by the Council of Ministers to resolve the crisis cell and the formation of other reconstruction and services.

Political analysts said the decision means that the situation is stabilizing after demonstrations in central and southern cities, a sign of the start of reconstruction and the provision of services. LINK

MilitiaMan » July 29th, 2018

Two days before the end of month.. Interesting timing.. ~ MM

Walkingstick » July 29th, 2018

The absence of small monetary categories is detrimental to the stability of the local economy

Posted 18 hours ago

In the middle of the clothing shop, Ali Ali stopped after he was chatting with a customer of the shop and then went to his small table, which he put at the end of his small shop, and while he was preoccupied with his talk, he opened the drawer of the desk.

The local currency of the category of 250 and 500 and 1000 dinars, he said:

"The small cash groups have come close to our shops, so how can we deal with customers, especially those who give us big categories like 5, 10 thousand and 25 thousand dinars, really it's a big problem."

The expert on economic and academic affairs Dr. Hilal al-Taan said that the existence of small monetary groups leads to a drop in prices, unlike the large groups, which lead to an increase in inflation and high prices, especially with the categories of 25 and 50 thousand dinars. It is known that any economy in which small groups of cash coins disappear leads to the rule of Large and increase circulation in the market at a small expense. A notable absence is not the shops and markets alone suffer from the absence or lack of small monetary groups, but it applies to banks as well, says the bank preferred not to be named:

"We have noticed recently the absence of cash categories of 250 and 500 dinars, as we can no longer provide them and give them both citizens and employees, and that we are equipped with them are very few compared to the real need for them, and no one knows why the disappearance because we did not notice any new edition in the markets And not in banks, and this poses a threat to our economy because these categories are within the reach of everyone and circulation easy compared to those large existing such as 50 thousand dinars, so banks had to accept the damaged currencies and received from the citizens.

Director General of the Department of Repair and Storage in the Central Bank Agency Abdul Karim Hassan said in an earlier statement to "morning:

"We have instructed the government and commercial banks to receive the damaged banknotes from the citizens and replace them without any fines and to submit them later and in any quantity and banks contrary to those instructions are accounted for, and in terms of currency burned or buried citizen can be delivered to the Central Bank exclusively to be replaced immediately after submission according to certain controls"

A financial cover

While he is busy arranging clothes in his place, Ali Kamel wonders: "What is the real reason for the absence of small groups?

Earlier, we would note the existence of modern currency coins and are being dealt with. Today, the available is only old and almost damaged, To the market and how can a simple citizen to cope with this, which may lead to higher prices of goods and goods?

The bank notes that it is customary to print currency outside the country and provide a cover for printing according to a certain vision and Iraq provides this from the sale of oil and perhaps the lack or disappearance of small cash groups is evidence of the failure of the printing process, it is known that the former system was the process of printing within the country And are traded by citizens in Iraq exclusively and is not recognized outside of it when the fall of the system is no longer for this money little value and was handed over by the citizens to the competent authorities to benefit them in one way or another, the current currency is internationally recognized and has a value compared to its counterpart.

The Director General of the Department of Repair and Storage that the Central Bank has equipped the Rafidain Bank and Rashid Banknotes and small groups to pay within the salaries of employees, and the bank to sort out the damaged and compensated with new papers, noting that the Bank continues to print banknotes and improve, especially small groups and pumping instead of damaged papers , Calling for the preservation of the currency and accept whatever its status as a symbol representing the sovereignty of the country and inform the bank in case of refusal of banks to receive the damaged currency of citizens.

The Iraqi Dinar

After the British occupation of Iraq during the First World War, the occupation authority introduced the currency of the Indian Rupee as the official currency instead of the Ottoman lira, and in 1931 it was decided to establish a council of the Iraqi currency, which is responsible for issuing a special Iraqi currency.

The law No. 44 of 1931, Equal to the value of the pound sterling, and divided into 1000 fils, as appeared in the first issue of the dinar during the reign of King Faisal I on the first day of April 1932, and the banknotes in the category of quarter and half dinars and dinars and five and ten dinars and one hundred dinars, and coins of coins it F The Bank of the Iraqi currency continued issuing paper and metal coins until the establishment of the Iraqi National Bank in 1947. In 1954, the Central Bank of Iraq was established, which became responsible for the establishment of the Iraqi National Bank. Issuing the Iraqi currency, the Iraqi dinar was throughout those

The coins of the fifties, Jamil Hamed, believe that the coins that were circulating in the fifties and sixties of the last century are a form of civilization of the types of monetary categories, as they were different, worth 5 and 10 fils, all of which were accessible to the citizen and easy to get.

Economic researcher Laith Ali Bin that it is known that the shape of the currency and its effects on the psychological great consumer, and this is proved by various scientific studies as increasing pride in his currency and his desire to ration purchase, as well as the need for the coin, which is noted that it did not disappear from trading in different countries of the world, Because it depends on the existence of parts, for example 350 or 450 dinars and we note that the coins disappeared completely from trading in our Iraqi markets, and earlier had a presence as there were devices in the past used this currency, including land phones that were in the mother Be the General Today either has been dispensed for several reasons, including changes that took place in the trading markets, as well as the cost and was replaced by the paper, which is now the lady of trading.

The researcher points out that economic affairs in the matter of the decline of the Iraqi currency against the dollar, it may feel that the citizen's national currency has no value, either when the rise gets great pride by him, begins to maintain and try to legalize the purchase, and with regard to delete zeros from the Iraqi currency There is a belief that this matter has an impact on the psychological side, when they disappear from the monetary currency will feel the importance of the citizen currency and the need to preserve them, in addition to the paper that is printed by the currency must be of the type of luxury, as badness has psychological effects and drives the consumer to think Need to get rid of From this coin, replace it with other quality quality and clear and colored paper. reuse

Employee Shahrazad Mohammed confirmed that her salary for two months completely from the small cash categories, such as 250 and 500 dinars, if found, they are badly damaged and sometimes not received by vendors or even taxi drivers, private and public, which posed a real problem for the citizen.

Al-Taan explained that facing such a problem requires studying the situation of the market and finding a solution either by distributing small cash categories in the salaries of employees or printing small currencies that are easy to trade, while taking advantage of damaged currencies and turning them into dough and using them later. The small categories are very important because they are easy to trade among citizens Stability of the economy.

In the middle of the clothing shop, Ali Ali stopped after he was chatting with a customer of the shop and then went to his small table, which he put at the end of his small shop, and while he was preoccupied with his talk, he opened the drawer of the desk. The local currency of the category of 250 and 500 and 1000 dinars, he said.


Iobey777 » July 29th, 2018

Very Interesting read! Indeed, they need those elusive LD's to come out of hiding!! IMO!

4Cash » July 29th, 2018

Thanks WalkingStick it seems this article is the beginning of the showing of smaller notes.

MilitiaMan » July 29th, 2018

This is now getting very interesting.. They are telling us they have an issue with not having 250s, 500s and 1000s.. Dried em up off the streets, now they are providing the new to the Rafidain and Rasheed. Sure smells like they populated the banks with new paper (new currency).. Fairly sure this article is ONE HEAVY BAG OF ROCKS!!! Duck... Yep... lol imo ~ MM

JJonesMX » July 29th, 2018

This has to be the most brilliant news article I have seen in quite a while... IMO This is a great way to get the last remaining citizens; that are holding out with their large denominations..........to go the bank and get them exchanged at least this is how I see it imo..." Sorry Mr. Customer with a $25000 note I cannot do business with you...............I cannot make change; you need to go to the bank and exchange those larger notes for the smaller notes..."Then I can do business with you in my opinion....

MilitiaMan » July 29th, 2018

Put WS article #176 or the highlighted portion of #81 in your mind and think this over.. The process described is befitting of the process being completely underway now! ~ IMO ~ MM

"And promoting the circulation of small denomination banknotes." FA (final Article) # 80

"The information campaign should encourage people to deposit their cash currency in accounts at banks. The campaign must make it clear that once the currency reform is initiated, account holders can withdraw their money in the form of new banknotes." FA #81

"The next phase of currency reform is the conversion from old cash currency to new." FA #81

Frank26 » July 29th, 2018

RIGHT BEFORE YOUR EYES KTFA KONA !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!



MONDAY CC ............... BRING A SLEEPING BAG.............LOL
by Ssmith
on Mon Jul 30, 2018 8:30 am
Topic: "Getting Very Interesting" - Sun. PM KTFA Thoughts, News w/ Frank26 7/29/18
Replies: 0
Views: 408

"Lowest in the Market" - Thurs. PM KTFA Thoughts, News w/ DELTA 4/19/18


Samson » April 19th, 2018

The dinar is down against the dollar in the local stock exchange100 LINK

DELTA » April 19th, 2018


MilitiaMan » April 19th, 2018

The above is the part of Unification of their Currency that was spoken about in the W CC..

imo "This meeting was very unique." ~Frank26

"They were talking about the unification of their currencies." ~Frank26

That is in reference imo to the AMF and IMF meetings recently, imo. The above post is showing the parallel market behavior, just as talked about in the below Final Article #20. ~ MM

Final ARTICLE # 20

New BD version .. enhance cash to our system


Dr.. Mohammed Riad Hamza

The reality of the dinar 's trading current segments of confusing and obstructive economic, commercial and service all of the activities, for the Iraqi market , the level of the reality of the dinar in the evaluation of commercial exchanges, inter and single, is far from accurate price, as well as in the evaluation of real estate , buying and selling and lease, and facilities banking, trading and any resident currency, any deal large amounts of both ends need to fill categories of dinar bags for exchange between the seller and the buyer.

And you can see scenes of people carrying bags of dinar entrants to the banks or exchange houses or coming out of it.

It is certain that the reality of the Iraqi dinar and the low value segments purchasing a catalyst for the crimes of counterfeiting, states that equal their exchange rate with the Iraqi currency plagued by rigging the currency and counterfeit currency have devastating effects on the economy , among the components of the total of any state.

To dinars Iraqi Rolling currently Bocefarh and the small value of the cashed important role in the rise in goods and services and rising inflation rates, since the transactions in the wholesale exclude small - value segments of the dinar, in addition a few thousand dinars to deal consumer goods or long - lived, and circulation of marketing to another port and into the hands of the consumer, the price of the commodity Tuwalia ballooning number of marketing outlets.

The reason is the low purchasing power of the dinar small groups that are excluded when evaluating the price of any commodity.

On 27 August 2015 published (unit of economic studies links for research and strategic studies center) in its website an important article included reference to «that the Iraqi government may resort to the liberalization of the dinar any (floated) something that will not solve the financial problem in the country, but will have disastrous effects on the Iraqi people first and foremost.

On the other hand, the flotation is the port for speculators in the market to carry out money laundering and manipulation of the currency auction within the central bank.

Currency float means leaving the exchange rate of a currency float rises and falls reverse proportion to the cases of demand and supply in the market.

And taking into account the level of emancipation of the national economy, and the quality of his performance, and flexibility of its production apparatus.

It is the risk of this operation is that it opens the door to money laundering and corrupt diversion of funds from the Iraqi dinar to the free exchange for smuggling operations abroad.
The survival of the purchasing power of the Iraqi dinar is weak seesaw at home and are not supported in the outside with rampant financial corruption contributes to convert the dinar into other currencies smuggled out what causes inflation rise, as to keep large amounts of the dinar in the Iraqi market means inflation liquidity, which makes it easier out more of foreign currency from the country.

The solution is not to delete zeros or dinar floated, but substituting new Iraqi dinars and linking its exchange rate to the US dollar
The issuance of any new Iraqi dinars equivalent to the dollar in the exchange rate.

It consists of one hundred per dinar fils and groups: one dinar, five dinars and ten dinars, and twenty dinars, and fifty dinars, and one hundred dinars.

Minting coins from fils and five fils, ten fils fils twenty, and fifty fils, and one hundred fils.

And ensuring the stability of the monetary system and eliminate the flaw in the current system , which allowed rampant corruption.

As has been the abolition of the currency of the former regime after 2003 and replacing rolling dinar now, it can be done through the abolition of the current period of time and bring new dinar.

It is important that the Iraqi Central Bank assisted by experts from the «Federal Reserve« The US central bank in the Iraqi monetary system , the development of the currency enjoys the trust of high exchange locally and internationally.

Central banks play a major role in financial instruments control in all countries of the world, the most important tool in the hands of the Central Bank is the monetary policy, it is through an increase in liquidity can stimulate the economy out of the state of economic crisis, or to help the economy grow by encouraging exports, reducing inflation.

The currency of the Iraqi dinar in US dollars fasten it means installing currency dinar price of a fixed exchange rate and a lot of countries in the world this practice is based, there are 17 countries in the world have linked its currency to the US dollar, including six Arab countries , namely Saudi Arabia, Jordan, Oman, the UAE, Bahrain and Qatar.

And connecting the Iraqi dinar to the dollar has several advantages the most important of the ease of exchange rate policy management between the currency of the country and the rest of the world currencies all, where monetary authorities determine the rate specified for the disbursement of the peg through which is determined by the relationship of the dinar to the rest of the currency, it goes up for these currencies with the rising dollar and fall with the decline.

On the other hand, the dollar peg helps relatively to protect the national economy from inflation as well as help link in the case of oil -producing countries to stabilize their revenues in local currency when the devaluation of the dollar,Vpferd the stability of oil prices, the decline in the global value of the dollar does not lead to a decline in oil revenues of Iraq Dinars.

It will be issuing new Iraqi dinars a way to expose corruption as it requires the replacement of currency in circulation is the new currency.

At that expose those who shelve billions of current Iraqi dinar and act within the framework of the weak monetary system and politicized the farthest thing from transparency.

It can also be placed CBI commercial banks before the deal could expose any abuses of money laundering and the smuggling of hard currency abroad.

The main reason behind the dollar peg is to maintain stability and increase the confidence to deal with, and maintain a fixed exchange rate of the dinar will eliminate the so - called parallel market vowels (black market).

This reinforces the confidence of investors monetary system and its stability and preserve the purchasing power of consumers with incomes limited.


MilitiaMan » April 19th, 2018

Now look at the similarities below to what WS brought in as the now Final Article #81. The aforementioned FA #20 shows the same sort of educational process that was successful and is some what of a mirror image of what is happening at present with the IQD.. Delta and Samson show that the parallel market is at that stage now to be at the stage for it to cease to exist. New currency is to be issued..

FA #80 "And promoting the circulation of small denomination banknotes." ~ CBI .....

This is the place we are now, read new currency with no parallel market anymore of substance.. imo. Waiting now for the moment of truth. Was that 24 hour notice given? ~ MM
"FA #81

New Money

FINANCE & DEVELOPMENT, December 2013, Vol. 50, No. 4

Introducing a new currency is a complex process—one that Turkmenistan completed successfully

A popular destination for visitors to the IMF’s Washington, D.C., headquarters has long been a 40-foot-long display of each member country’s currency.

Most countries have their own currency, which is an important part of their national identity, though some belong to a monetary union and share a common currency with the union’s members; others use that of another, often larger, country.

On occasion, a country must introduce a new currency. Turkmenistan, the former Soviet republic in central Asia, decided in 2008 to undertake a currency reform.

A major gap between the official exchange rate and the informal or market rate meant that Turkmenistan’s price system had become complex and inefficient. This, in turn, created complexities in accounting and statistical reporting. So the government decided to introduce a new currency before launching market-oriented reforms. Currency reform was regarded as the foundation for further strengthening the macroeconomic framework, particularly monetary transmission: the more the population relies on the local currency rather than U.S. dollars, the more control the government has over macroeconomic policy.

The total and orderly overhaul of Turkmenistan’s currency system in 2008–09 in many respects serves as a model for other countries.

Big decisions

The introduction of a new currency is not undertaken lightly. The motivation could be hyperinflation, exchange rate collapse, massive counterfeiting of the existing currency, or even war. Or it could be an intentional change—for example joining a monetary union, such as the European Monetary Union.

Changing a national currency is a highly political decision. Sometimes the existing currency does not meet the economy’s needs.

The typical economy in need of currency reform is cash based and highly dollarized, with multiple currencies circulating at the same time.

The single most important price in any economy is the price of its currency vis-à-vis other currencies. Countries that assign non-market-based exchange rates for different goods or services—or for imports versus exports—tend to have significant distortions in their economy. Over time, this usually leads to slower growth overall. Eventually, the general public, the business community, and politicians may start pressing for currency reform and the introduction of a new currency.

Currency reforms are typically complex and risky: global experience confirms that a successful outcome is never guaranteed. The main ingredient in the successful introduction of a new currency is a strong commitment by the central bank together with the government to take the steps needed to ensure that the new currency is perceived as stable by companies, the general public, and the international community.

Introduction of a new currency comprises four phases. First, the necessary preconditions—sound macroeconomic policies and strong financial sector legislation—should ideally be in place or under way. Next, careful preparation is required, setting up the policies and processes behind the reform and drafting a detailed budget for the entire currency reform (including the cost of printing and minting the new cash currency). Then comes production of the new currency, and finally the most challenging phase: implementation.

Setting the stage

A government facing currency reform often has limited ability to pursue macroeconomic policy. If the country is suffering from hyperinflation, its macroeconomic policies to date by definition were unsound. In some cases, a currency reform must be implemented despite a difficult macroeconomic situation. Currency reform alone is unlikely to resolve such problems and will yield its benefits only if underpinned by fiscal and monetary action. But psychologically, introducing a new currency can itself facilitate the stabilization of an economy. It is sometimes combined with exchange rate unification—to eliminate the complications of both an official exchange rate and unofficial market rate.

Turkmenistan was able to achieve favorable macroeconomic conditions before it implemented exchange rate unification and currency redenomination. During 2006–07, the economy was growing more than 11 percent a year, inflation was in single digits, and fiscal and external balances were strong.

A currency reform must be supported by financial sector legislation. Existing legislation—including the law establishing the central bank and regulation of banks and other financial institutions—should be reviewed to ensure consistency with international best practices. A law and regulations on the specific currency reform are also necessary, and other legislation—for example, governing accounting and financial reporting—may require updating. This work can be supported by technical advice from the IMF and other countries’ central banks. Such technical assistance includes initial general guidance as well as detailed recommendations based on currency reforms in other countries.

In a crisis situation, the government has little, if any, control over the circulation of different currencies. For that reason, the economy tends to be highly dollarized—that is, many transactions are made with a foreign currency, often the U.S. dollar.

Moving forward, the government should favor a currency regime that supports open trade and free markets—one that allows international competition and is not overly protectionist.

The central bank is the arm of the state responsible for introducing a new currency, but it is not necessarily in a position to do so.

It may lack staff with relevant experience, or sufficient branches throughout the country from which to operate, or even the funds necessary to finance a reform. Strengthening the institutional capacity of the central bank and ensuring it has the resources needed are critical preconditions for currency reform.

Private banks also play a key role in currency reform. But the banking sector may be weak or, in some cases, virtually nonexistent. In some parts of the world, informal funds transfer systems such as hawala and hundi are more vibrant or have nationwide networks that surpass those of banks. In such cases, collaboration between the central bank and these payment system operators is critical to the success of the reform.

The central bank must assess the extent to which counterfeit banknotes circulate. Together with the ministry of finance and the commercial banks, it should formulate a strategy to avoid an increase in counterfeit currency during the critical implementation stages of the currency reform.

The central bank should prepare a budget for the entire currency reform early on and revise it as necessary over time. The IMF can offer technical advice on preparing such a budget.

Introducing a new national currency is a highly complex project, which requires a well-functioning accounting system. Throughout the various stages, tested systems must be in place for independent auditors to safeguard the integrity of the currency reform, by ensuring correct reporting and accounting of the currency exchange. Failure in this area is not only costly but also potentially devastating to the currency reform’s reputation.

Important as all these preparations are, the success of a currency reform depends just as much on a successful public education campaign. The central bank needs to coordinate this campaign with other agencies, financial sector representatives, merchants, and the general public. A delicate balance must be struck between providing sufficient public information and the need for confidentiality to avoid releasing clues to counterfeiters that could be used to undermine the integrity of the new currency.

The information campaign should encourage people to deposit their cash currency in accounts at banks. The campaign must make it clear that once the currency reform is initiated, account holders can withdraw their money in the form of new banknotes.

A second important point for the public education campaign is timely information on the stages of the currency reform to discourage a run on banks with temporary liquidity problems.

In Turkmenistan, the central bank conducted a proactive public communications strategy that began early in the currency reform.

The terms of the redenomination were carefully defined and announced in advance. An awareness campaign was carried out throughout the country. Booklets, illustrating the new banknotes to be distributed, were published in national and local newspapers along with explanatory articles. In addition, pocket-size cards comparing the denomination of old and new manat were distributed to the public. And the Central Bank of Turkmenistan set up a phone hotline to answer questions from businesses and the public.

Lights, camera, action

A new currency’s name is a psychologically important decision for the government. One option is to emphasize continuity with the old currency by retaining the old name or adding “new” to it. Alternatively, the government may choose to underscore a break with the past by giving a completely new name to the currency to mark the start of a new monetary era.

In Turkmenistan, the government decided to keep the name “manat” for the redenominated currency. However, in line with an international convention among countries and central banks, the International Standards Organization changed the three-digit ISO 4217 code from TMM for the pre-2007 manat to TMT for the new Turkmen manat.

The banknote printer and the minter of coins should be selected competitively and in the international market. Even if domestic producers are available, they should be required to compete for the contract. It is not uncommon, by the way, for various banknote denominations to be produced by different international firms.

Turkmenistan’s banknotes were printed by the British firm De La Rue, and the coins were minted by another U.K. company, the Royal Mint. De La Rue is now testing production of the banknotes from paper produced with local raw materials—Turkmen cotton, renowned since ancient times for its high quality.

Decisions on the artistic design of banknotes are almost always complex and time consuming. The design must be integrated with necessary security features: the higher the denomination, the more advanced security features are required. These often include watermarks, security threads, see-through registers, and hidden numerals. Decisions also need to be made on the size of banknotes—a uniform size as for U.S. banknotes or a different size for each denomination as for euro banknotes. Finally, the color scheme should be determined—again, uniform colors, like U.S. banknotes, or clearly different colors as for most other banknotes.

Hyperinflation and exchange rate collapse slash the value of a national currency, forcing the issuance of banknotes in ever higher denominations. In Yugoslavia in 1993, a banknote reached 500 billion dinars, and Zimbabwe’s highest banknote issued was 100,000 trillion Zimbabwe dollars in 2008. In such situations, a redenomination of the currency is not only appropriate but also necessary. Redenominating a currency means administratively changing its face value. In itself, a redenomination makes no one richer or poorer. Technically most redenominations of currencies are undertaken by using factors of 10, 100, or 1,000 and simply moving the decimal point a certain number of steps to the left to establish a new value. Such a change is simple to explain to the general public and easy for companies to implement. It also represents a clear way of monitoring whether price gouging is taking place.

The first step in the Turkmen currency reform was to unify the exchange rate. In the past, because of a shortage of foreign exchange, there had been a dual exchange rate system made up of an official rate pegged at 5,200 manat per U.S. dollar and an informal parallel market rate of about 23,000 manat per U.S. dollar.

Later, the government devalued the official rate to 6,250 manat per dollar and introduced a commercial rate of 20,000 manat per dollar at which banks could trade freely with the public. The two markets were successfully unified on May 1, 2008—at the rate of 14,250 manat per dollar, a level consistent with the country’s strong external position.

Currency exchanges were located wherever customers might want to exchange dollars for manat, offering easy and official access at close to the informal rate, thus killing off demand for the informal market. (parallel)

At the beginning of June 2008, the Turkmen government issued new foreign exchange regulations under which the Central Bank of Turkmenistan began providing banks and authorized currency changers ready access to foreign exchange, which in turn became available to the market-oriented private sector. Previously the central bank had been propping up the official, unrealistically low, exchange rate by restricting access to dollars. The provision of sufficient foreign exchange to an extensive network of exchange bureaus across the country eliminated the black market rate.

While unifying the exchange rate is important, the authorities must also modernize the national currency for a currency reform to be comprehensive. In Turkmenistan, the modernization entailed issuing a new family of banknotes that were smaller in size than the unnecessarily large old banknotes.

It also included the reintroduction of coins. The Turkmen economy had been cash oriented for a long time, and the U.S. dollar was extremely popular. The weakness of the manat to the dollar, which required thousands of manat in an exchange conversion, was deemed unacceptable. One way to correct this was to redenominate the national currency.

After the successful exchange rate unification, the authorities moved forward with the introduction of the new manat, revaluing the currency by a factor of 1 to 5,000. The pegged exchange rate of 14,250 manat per dollar resulted in an exchange rate of 2.85 new Turkmen manat to the dollar.

A presidential decree issued August 27, 2008, announced the introduction of the redenominated manat on January 1, 2009.

Even without redenomination, the denomination structure of a new cash currency is worth considering. Usually, lower denominations are eliminated and higher denominations added. There is generally a shift into coins from denominations that were previously issued in banknotes. Cultural and sociological preferences must be considered. For example, in some countries, such as Somalia and South Sudan, coins are not popular. In other countries, such as Germany, people want access to very high-denomination banknotes. A rule of thumb often applied in developing economies is to set the highest denomination of the national currency no lower than the equivalent of 20 dollars.

Money in hand

Turkmenistan issued six new banknote denominations on January 1, 2009: 1, 5, 10, 20, 50, and 100 new manat. This was a major expansion of the upper denominations—the previously highest denomination, 10,000 old manat, now corresponded to a mere 2 new manat. The six newly issued banknotes each differed in size and were all shorter and narrower than previous banknotes. The design of the front of the banknotes presented prominent historic Turkmen personalities. The reverse side, as in the past, portrayed new key buildings and monuments of modern Ashgabat, the Turkmen capital.

In parallel, new coins were issued in the following denominations: 1, 2, 5, 10, 20, and 50 tenge; and the following year, two more coins were circulated with 1 manat and 2 manat denominations. This represented a de facto reintroduction of coins after high inflation and intense exchange rate pressure had rendered the previously issued coins valueless.

Once the design and denominations of a new currency are selected, the central bank must decide how much to produce, based on research on the demand for money in general and on various cash currency denominations in particular. Data on past orders of banknotes and coins should give reasonable estimates, which must be assessed in light of recent changes in public demand for the currency compared with other currencies. Technical advice is available from international banknote printing firms such as De La Rue and Giesecke &Devrient, and for coin denominations from mints such as the Royal Mint.

The next phase of currency reform is the conversion from old cash currency to new. The authorities must decide—at first privately--when the currency exchange will begin, when it will end, and whether or not to cap, in absolute terms, the amount to be exchanged.

Then, decisions (date) on the announcement of and publicity for the currency exchange must be made. Other essential decisions include the conversion rate and how financial assets, resident/nonresident accounts, and existing currency contracts will be treated in the currency exchange.

In addition to the guidance of the central bank and the ministry of finance, the views of the ministries of justice, commerce, and defense; the police force; the chamber of commerce; bank representatives and representatives of the informal payment system (if it plays an important role in the country); the general public; nongovernmental organizations; and key media outlets should be considered.

The key stakeholders, under the leadership of the central bank, should develop a detailed plan for distribution of the new currency. They must identify exchange points (places where the public can exchange the old money for new and where cash currency can be stored temporarily); establish facilities for more permanent storage of currency, such as vaults and strongboxes; and address various logistic issues, including exchange point staffing.

In its plan for the currency reform, the central bank must decide how to handle the soon obsolete cash currency. Old banknotes that have been exchanged for new currency should be immediately invalidated via ink markings or holes drilled in the currency.

After a second counting, the then invalidated banknotes should be destroyed by shredding or burning. Routines should also be established for the collection and transportation of old coins, which may be sold by the central bank for scrap metal and ultimately melted down.

In line with common international practices, the Turkmen central bank allowed the two sets of banknotes to be circulated during 2009. By 2010, all banks were expected to exchange the old currency for new manat. And after that, the old currency was demonetized and retained only numismatic value.

The IMF’s currency display was recently dismantled to allow for repairs to the building. If and when the display is restored and updated, there will be several new currencies for visitors to view, including the new Turkmen manat.

by Ssmith
on Fri Apr 20, 2018 7:01 am
Topic: "Lowest in the Market" - Thurs. PM KTFA Thoughts, News w/ DELTA 4/19/18
Replies: 1
Views: 444

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