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Totally Frustrated and Sad

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Post by lifestyle4unow Sat Nov 13, 2021 9:12 am

Im personally kind of new here , my wife has been a member for quite some time and she spent countless hours everyday reading and in my opinion listening to BS ... Although I once believed that it was going to happen I lost interest and faith years ago but my poor wife kept up the faith , she has now passed away on Sept. 10th 2021 , I am saddened and broken beyond belief she was my world and such and kind loving human being , mostly it angers the hell out of me that these scammers so called gurus could lead people on the way they do that I am not sure what id do f I ever met one of them in person .. 

Now that is out of the way we bought our dinar from two different sources ill have to go back to see who they are my question is if theres never going to be an RV why even have this site running , and if there is then how do we get correct information as to whats really going on ... 

Lastly honest question , is this DInar worth holding onto for hope of an RV of any sort , i wouldnt care it it RVd at .50 or 1.00 , just somethng would be nice ... 

               Looking for honest answer from people in the know 

 Thanks In Advance

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Post by Purpleskyz Sat Nov 13, 2021 10:43 am

Hello


Welcome to the site.

My condolences on the loss of your wife.


For what it is worth...

This site serves the purpose to let folks know and realize how full of it these so called gurus are. Having been collecting the bs from them for over a decade hopefully makes folks see how big of a scam it really is. There is no one "in the know". It is a smoke & mirrors grift dressed up as an "investment".


I bought a small amount, compared to most, back in 2011 and was not long that I called it a crock. The fellow that told me about it and urged me to buy sent me to this site to follow it. I made great friends here that I still keep in touch with after all these years so that is the only "gift" that I was able to appreciate from this experience other than being given my website that I still keep active that the original owner here gave me. I held onto the Dinar for years before I sold it back at an over 50% loss of the value of purchase. The sell back price fluctuates so call around and research that if you decide to unload it.

If you have any questions many here will be happy to help you.


Thanks for sharing

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Post by claud39 Sat Nov 13, 2021 8:09 pm

@Purpleskyz wrote:Hello


Welcome to the site.

My condolences on the loss of your wife.


For what it is worth...

This site serves the purpose to let folks know and realize how full of it these so called gurus are. Having been collecting the bs from them for over a decade hopefully makes folks see how big of a scam it really is. There is no one "in the know". It is a smoke & mirrors grift dressed up as an "investment".


I bought a small amount, compared to most, back in 2011 and was not long that I called it a crock. The fellow that told me about it and urged me to buy sent me to this site to follow it. I made great friends here that I still keep in touch with after all these years so that is the only "gift" that I was able to appreciate from this experience other than being given my website that I still keep active that the original owner here gave me. I held onto the Dinar for years before I sold it back at an over 50% loss of the value of purchase. The sell back price fluctuates so call around and research that if you decide to unload it.

If you have any questions many here will be happy to help you.


Thanks for sharing



All my sympathy for your spouse, and I can understand you, I lost my father recently, on September 11th !!
You know no guru that you should follow on the dinar sites !!

Even on this forum, it is more involved to send news on the gurus than on the actual news of the country to see the change !!

For me there is a logic, ie how to market with other countries without having a value on their dinar ??

As with the United States for example !!

Currently they are on the parallel market, and they should return to the WTO according to the news by the end of the year !!

Really do your research, and make your own opinion on the subject !!

Here is a great example of news that you will not find on this site !!

  WHY ??? that Lack of rigor on research !!


 Claud (Moose)


Iraq:




Despite the cancellation of a planned visit of Minister Dr. Alaa Al-Jibouri to Geneva in September, Iraq submitted several accession documents required for a resumption of the Working Party. These include a revised MFTR; replies to Members' questions; a Legislative Action Plan; SPS Checklist; questionnaires on import licensing and customs valuation. These documents are being circulated to the Working Party. This is the first document submission since February 2018.

On 24 September, Ambassador Omar Hilale (Morocco) met with Ambassador Abdul-Karim Hashim Mostafa of Iraq to exchange views on the next steps in preparation for a full resumption of the accession process.  He also met with the representatives of the International Trade Centre (ITC) which recently visited Baghdad under the EU's “Strengthening the Agriculture and Agri-food Value Chain and Improving trade policy in Iraq” (SAAVI) project.






Totally Frustrated and Sad  8270d01e-a227-9174-9345-f1af34623dff



Meeting with Amb. Abdul-Karim Hashim Mostafa -
24 September 2021







https://mailchi.mp/wto/wto-accessions-newsletter-n-106-sept-2021-6212593?e=9c067e1dee
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Post by claud39 Sat Nov 13, 2021 8:44 pm

Here is another great example, let's not forget that Iraq is part of the Arab Monetary Fund, and they have signed to follow the BUNA system !!!

Another great example of lack of rigor on the forum, more important to share news on the gurus, than real research is actually happening in Iraq !!

Claud (Moose)


UNDER THE HEADING "REQUIREMENTS AND STEPS TO JOIN THE BUNNY PLATFORM"
 2021-11-12

The Arab Monetary Fund is holding an interactive workshop to review the process of preparation and preparation for participation in the "Bunna" platform for Arab payments
The workshop will host more than 200 participants from representatives of central banks and Arab, regional and international financial and banking institutions
 
Today, Thursday, November 11, 2021, the Arab Monetary Fund will hold a "remote" workshop to review the stages of joining the "Bunna" platform for Arab payments, affiliated with the Regional Institution for Clearing and Settlement of Arab Payments owned by the Fund, starting from registration and signing through to With technical equipment and training, all the way to full membership in the "Buna" network of participating banks and financial institutions.
In the workshop, a team from the team working on the “Bunna” platform for Arab payments will talk about all the steps related to the process of joining “Bunna”, and the attendees share their experiences and expertise in supporting and assisting banks and financial institutions participating in the “Bunna” platform for Arab payments to join the “Bunna” system. The implementation of cross-border payments in the listed Arab and international currencies.
The speakers will provide an integrated explanation that includes the steps that those wishing to join the “Bunna” platform should follow to complete the integration process easily and conveniently within a short period of time, and take advantage of the readiness and capabilities of the “Bunna” system to secure interconnection and communication between all banks and financial institutions operating in the Arab region and abroad.
More than 200 participants representing central banks, financial and banking institutions, payment service providers and financial services from the Arab region and abroad will participate in the workshop, to get acquainted with these important and vital topics about the Buna Arab Payments platform.
On this occasion, Mr. Mahdi Manea, CEO of the Regional Institution for Arab Payments Clearing and Settlement (Bunni Platform for Arab Payments), said: “Bunni’s ability to provide a flexible and advanced path to complete the process of joining its payments system and thus persevere in building and expanding its network of participating institutions, constitutes a key element In the implementation of its plans aimed at establishing a wide presence at the regional and international levels.
Mana added : “The momentum we are witnessing in the growth and expansion of our network of participating entities is not only evidence of the success of our system and the level of acceptance it enjoys, but it also motivates us to improve and benefit from the lessons we learn daily through our interaction with users of this system. We are confident that the element of cooperation is an essential factor for achieving growth in the payments and financial sector in the Arab region, and contributing to increasing the efficiency of cross-border payment activities at the international level.”
It is worth noting that the "Buna" platform constitutes an integrated system specialized in providing clearing and settlement services for payments in Arab and international currencies, aiming to enable financial and banking institutions in the Arab region and beyond, including central and commercial banks, to send and receive inter-payments throughout the Arab region and abroad in a safe, reliable, affordable and highly effective manner. Buna offers participants state-of-the-art payment solutions that comply with international standards and principles and international compliance requirements. "Buna" contributes to enhancing opportunities for economic and financial integration in the Arab region and supporting investment links with trading partners in various continents. It is noteworthy that participation in the platform is available to all banks and financial institutions that meet the criteria and conditions for participation in it, foremost of which are the standards and procedures for compliance aspects. 

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Post by Purpleskyz Sat Nov 13, 2021 8:47 pm

Sorry... none of that means a thing Claud. There is no RV. There never will be.

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Post by claud39 Sun Nov 14, 2021 10:27 am

@Purpleskyz wrote:Sorry... none of that means a thing Claud. There is no RV. There never will be.


It's your opinion, and I respect it, but I don't agree with you !!

Start doing real research for your members instead of always applying for gurus, you want to put the truth, so put the real truth about the situation on iraq, like the news with the central bank, a lot of movement happening happening now, but you don't take the time to do your own research !!!

And to think that I have applied since 2018 every day on the real reality of Iraq, now that I no longer apply on your forum, it has come poor in your forum !!

What I find sad what your members deserve better, and you are not able to deliver the goods, as Jayzze already mentioned, your forum is made so negative, and you have to change direction, you should follow his remark !! Either to return to your origin from the beginning !!

To finish when I come to take a tour to clean up the forum, I see that you are still behind, and I find it sorry for the new members who register in your forum !!

It's not for nothing that the world is involved in this saga of the dinar, manipulating you as much as the information gurus on Iraq !!

Like I say to new members do your own research to make up your own mind on the topic, if you want to discuss the topic you are going to get put down squarely on this forum, so don't waste your time following the gurus !!

Greetings everyone, I will continue to follow the news on Iraq, and make my own opinion !!


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Totally Frustrated and Sad  Empty A large banking delegation will visit Saudi Arabia at the end of the week, and Riyadh is financing the establishment of an Iraqi outlet

Post by claud39 Sun Nov 14, 2021 10:33 am

Here is some real news, and very easy to find !!


Claud (Moose)


A large banking delegation will visit Saudi Arabia at the end of the week, and Riyadh is financing the establishment of an Iraqi outlet






  •  11/14/2021







Totally Frustrated and Sad  Photo--7468








{Economist: Al Furat News} A large Iraqi banking delegation will visit Saudi Arabia at the end of this week.

An informed source in the Central Bank of Iraq said in a press statement, "A large banking delegation will visit Saudi Arabia, headed by the Governor of the Central Bank, Mustafa Ghalib, on November 19."
He added that "Saudi Arabia agreed to open two branches for the Trade Bank of Iraq and the National Bank of Iraq."
It is noteworthy that an Iraqi delegation visited Saudi Arabia last October and agreed to open the two branches, which would develop banking and economic relations.
Iraqi-Saudi relations began to improve with the government of Haider al-Abadi in 2017, and since then, a Saudi embassy has been opened in Baghdad, and the Iraqi-Saudi Coordination Council has been established.
Prime Minister Mustafa Al-Kazemi and Saudi Crown Prince Mohammed bin Salman alike called for economic openness and increased expansionary economic integration in the Gulf. 
The opening of the Arar crossing in 2020 was a first step to reopening the four border posts that were closed after the former regime's invasion of Kuwait in 1990.
Trade between the two countries currently amounts to one billion dollars annually.
Meanwhile, a spokesman for the Border Ports Authority, Alaa Al-Din Al-Qaisi, said that "Saudi Arabia has agreed to establish the Al-Jumaymah port in the Muthanna governorate, and it will bear the cost of its establishment from the Iraqi side."
"The authority approved the Saudi proposal at its last meeting, but it may need more than a year to establish it," he added.





https://alforatnews.iq/news/%D9%88%D9%81%D8%AF-%D9%85%D8%B5%D8%B1%D9%81%D9%8A-%D9%83%D8%A8%D9%8A%D8%B1-%D9%8A%D8%B2%D9%88%D8%B1-%D8%A7%D9%84%D8%B3%D8%B9%D9%88%D8%AF%D9%8A%D8%A9-%D9%86%D9%87%D8%A7%D9%8A%D8%A9-%D8%A7%D9%84%D8%A3%D8%B3%D8%A8%D9%88%D8%B9-%D9%88%D8%A7%D9%84%D8%B1%D9%8A%D8%A7%D8%B6-%D8%AA%D9%85%D9%88%D9%84-%D8%A5%D9%86%D8%B4%D8%A7%D8%A1-%D9%85%D9%86%D9%81%D8%B0-%D8%B9%D8%B1%D8%A7%D9%82%D9%8A
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Post by Purpleskyz Sun Nov 14, 2021 10:49 am

And I agree with you re: the so called gurus. I stopped posting them years ago for exactly the reasons that you cite.
As for any truth coming out of Iraq re: currency revaluation? There isn't any.
All I see is the fact that this "investment" is not an investment at all.
But yes... folks need to make up their own minds.

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Post by claud39 Sun Nov 14, 2021 1:55 pm

@Purpleskyz wrote:And I agree with you re: the so called gurus. I stopped posting them years ago for exactly the reasons that you cite.
As for any truth coming out of Iraq re: currency revaluation? There isn't any.
All I see is the fact that this "investment" is not an investment at all.
But yes... folks need to make up their own minds.


We do not agree on the whole line, but at least you respect the opinions of the other members, and if you do not believe on the subject of the dinars it is also correct !!

You know that the last step is to finish paying the compensation for Kuwait which will be at the beginning of next year, then it will have no trace of UN Chapter 7 for Iraq !!

The electronic system is almost complete to control financial inclusion with the monetary system, and it works closely with the Arab Monetary Fund, the World Bank, and the International Monetary Fund !!

 They are on the verge of being back on the World Trade Organization, this should be settled by the end of the year according to their news from the country !!
By sending you the last message with arabia Saoudit, notice the entry of banks, according to you ?? are they the same value for their money?
Saudi currency
The national currency of Saudi Arabia is the Saudi Riyal (SAR), which is divided into 100 halalas. The banknotes have a value of 1, 5, 10, 50, 100 and 500 riyals. The coins have a value of 1 or 2 riyals and 1, 5, 10, 25 and 50 halalas.
The Iraqi dinar is the official currency of Iraq. It is subdivided into 1000 fulûs (son, in the singular)

The Iraqi dinar (hereinafter "IQD") was introduced on October 15, 2003 and traded during a transitional phase (until January 15, 2004.)

The change was:

1 old dinar (called "print dinar") = 1 new Iraqi dinar
1 old dinar (called "Swiss dinar" and circulating in Iraqi Kurdistan) = 150 new Iraqi dinars
With the introduction of the new Iraqi dinar, a single monetary system for all of Iraq was launched. At the same time the quality, shelf life and security of banknotes were seriously improved.

 You see what means, the rial is for arabia, as the iraqi dinar is for iraq, to ​​market between them, they will have to adjust their currency between the 2 countries !!

Like me, I am in Canada, if I want to go to the United States I have to change currencies to make purchases in the United States !!

For me same thing with the Iraqi dinar, if I go to Iraq as a contractor, they will have a change of currency if I want to make contracts in the country !!

But as a contractor I expect security, my money to protect in the banks that work with the central bank, that the borders are well secured, and to avoid fraud by using the electronic system, etc ... !!

Finally, let's not forget that this is the project of the international monetary fund, and the world bank for financial inclusion in all countries of the world by 2030 !!

But I do not want to convince anyone, let each have their own opinion, and let's see for the rest, I will continue my research on my side, more encouraging than seeing articles from the gurus who are shared on your site !!

For all the members of the forum !!

Do like me, do your own research, and make your own opinion on the subject of dinars !!

I wish you a nice day, well had the pleasure of chatting with you !!



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Post by claud39 Sun Nov 14, 2021 7:01 pm

You see, what I send is concrete, and not fake news !!

I wish you a good evening, and good luck in your forum, especially to your new members taking concrete in the news instead of following the gurus !!



Claud (Moose)





You know that the last step is to finish paying the compensation for Kuwait which will be at the beginning of next year, then it will have no trace of UN Chapter 7 for Iraq !!



International experts announce a new amount for the remainder of Iraq's compensation to Kuwait

Totally Frustrated and Sad  %D8%A7%D9%84%D8%B9%D8%B1%D8%A7%D9%82-%D8%A7%D9%84%D9%83%D9%88%D9%8A%D8%AA








2021-11-14 07:52

A-

A

A+


Shafaq News/ The International Experts Committee announced today, Sunday, an amount different from what was announced recently from the remaining compensation from Iraq to Kuwait, explaining that the remaining amount of those compensation is 476 million dollars, while it is likely that the full compensation will be paid in the last quarter of this year.

The Compensation Committee had previously indicated on its website on October 31, 2021, that the remaining amount to be paid from these compensations amounted to 324 629 million US dollars.

The financial advisor to the Iraqi government, Mazhar Muhammad Salih, said in a previous statement to Shafaq News Agency, that the remaining compensation from Kuwait is 600 million dollars, after paying compensation for the third quarter of the current year 2021, and that these compensations will end in the first quarter of 2022. .

The Committee of International Experts said, in a statement received by Shafaq News Agency, that "after paying the third quarter payment for the year 2021, the amounts of deductions paid to the Compensation Fund for Oil Exports and deposited for the next stage amounted to 153 million dollars," noting that "the amount required to be deducted from Iraqi exports. Oil and gas is $476 million.

 And the committee added, “With the continuation of the level of global oil prices at what it is now, and if the relevant Iraqi authorities and the ministries of finance and oil and the Central Bank completed payment in return for the in-kind payments to the oil companies that have service contracts, and the Kurdistan Region contributed to the consequences of its oil exports for the past period, the The amount of compensation will be finally paid in the last quarter of this year.

The head of the Financial Experts Committee, Abdul Basit Turki Saeed, had called on the Security Council, in his speech before the Compensation Board of the United Nations at its 88th session, held at the United Nations headquarters in Geneva, that the compensation file include a clause that protects Iraq from any future claims for the Kuwait war and that Iraq be expelled Completely from the provisions of Chapter VII of the Charter of the United Nations and canceling the consequences of all decisions on Iraq as soon as it pays the amount of compensation.

Iraq must deposit 5 percent of its export revenues from sales of oil, its products and gas, before reducing it to 3 percent in 2018 in a UN fund established under the name of the United Nations Compensation Fund.

In 1991, a UN Compensation Committee was formed, obligating Baghdad to pay $52.4 billion in compensation to individuals, companies, governmental organizations and others, who incurred losses resulting directly from the invasion and occupation of Kuwait.
https://shafaq.com/ar/%D8%A7%D9%82%D8%AA%D8%B5%D9%80%D8%A7%D8%AF/%D8%A7%D9%84%D8%AE%D8%A8%D8%B1%D8%A7-%D8%A7%D9%84%D8%AF%D9%88%D9%84%D9%8A%D9%88%D9%86-%D9%8A%D8%B9%D9%84%D9%86%D9%88%D9%86-%D9%85%D8%A8%D9%84%D8%BA%D8%A7-%D8%AC%D8%AF%D9%8A%D8%AF%D8%A7-%D9%84%D9%85%D8%A7-%D8%AA%D8%A8%D9%82%D9%89-%D9%85%D9%86-%D8%AA%D8%B9%D9%88%D9%8A%D8%B6%D8%A7%D8%AA-%D8%A7%D9%84%D8%B9%D8%B1%D8%A7%D9%82-%D9%84%D9%84%D9%83%D9%88%D9%8A%D8%AA
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Post by RamblerNash Sun Nov 14, 2021 10:31 pm

@lifestyle4unow wrote:Im personally kind of new here , my wife has been a member for quite some time and she spent countless hours everyday reading and in my opinion listening to BS ... Although I once believed that it was going to happen I lost interest and faith years ago but my poor wife kept up the faith , she has now passed away on Sept. 10th 2021 , I am saddened and broken beyond belief she was my world and such and kind loving human being , mostly it angers the hell out of me that these scammers so called gurus could lead people on the way they do that I am not sure what id do f I ever met one of them in person .. 

Now that is out of the way we bought our dinar from two different sources ill have to go back to see who they are my question is if theres never going to be an RV why even have this site running , and if there is then how do we get correct information as to whats really going on ... 

Lastly honest question , is this DInar worth holding onto for hope of an RV of any sort , i wouldnt care it it RVd at .50 or 1.00 , just somethng would be nice ... 

               Looking for honest answer from people in the know 

 Thanks In Advance


Welcome to DinarDaily!


My condolences on the loss of your wife.


There is no "RV". In the simplest form, the reserves back the money supply. Iraq is a pegged currency.

Other than a buffer that the IMF would like to see, the government spends the money, as it comes in, for various reasons.

If Iraq were to double the reserves today, it would be worth around 1/10 of a penny.
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Post by RamblerNash Sun Nov 14, 2021 10:35 pm

@claud39 wrote:
@Purpleskyz wrote:Hello


Welcome to the site.

My condolences on the loss of your wife.


For what it is worth...

This site serves the purpose to let folks know and realize how full of it these so called gurus are. Having been collecting the bs from them for over a decade hopefully makes folks see how big of a scam it really is. There is no one "in the know". It is a smoke & mirrors grift dressed up as an "investment".


I bought a small amount, compared to most, back in 2011 and was not long that I called it a crock. The fellow that told me about it and urged me to buy sent me to this site to follow it. I made great friends here that I still keep in touch with after all these years so that is the only "gift" that I was able to appreciate from this experience other than being given my website that I still keep active that the original owner here gave me. I held onto the Dinar for years before I sold it back at an over 50% loss of the value of purchase. The sell back price fluctuates so call around and research that if you decide to unload it.

If you have any questions many here will be happy to help you.


Thanks for sharing



All my sympathy for your spouse, and I can understand you, I lost my father recently, on September 11th !!

My condolences to the loss of your father.

You know no guru that you should follow on the dinar sites !!

Even on this forum, it is more involved to send news on the gurus than on the actual news of the country to see the change !!

For me there is a logic, ie how to market with other countries without having a value on their dinar ??

There is value to the dinar...It's just not one you agree with, but the rest of the world does. i.e. IMF WB WTO CBI etc...

As with the United States for example !!

Currently they are on the parallel market, and they should return to the WTO according to the news by the end of the year !!

Return to the WTO??? The WTO was formed in 1995 and Iraq's working party was formed in 2004. They have never left...

https://www.wto.org/english/thewto_e/acc_e/cbt_course_e/preface_e.htm


Really do your research, and make your own opinion on the subject !!

Here is a great example of news that you will not find on this site !!

  WHY ??? that Lack of rigor on research !!

That has nothing to do with the value of the dinar or a fantasy "RV".

That, in itself, is misleading and at the level of the BS Gurus!




 Claud (Moose)


Iraq:




Despite the cancellation of a planned visit of Minister Dr. Alaa Al-Jibouri to Geneva in September, Iraq submitted several accession documents required for a resumption of the Working Party. These include a revised MFTR; replies to Members' questions; a Legislative Action Plan; SPS Checklist; questionnaires on import licensing and customs valuation. These documents are being circulated to the Working Party. This is the first document submission since February 2018.

On 24 September, Ambassador Omar Hilale (Morocco) met with Ambassador Abdul-Karim Hashim Mostafa of Iraq to exchange views on the next steps in preparation for a full resumption of the accession process.  He also met with the representatives of the International Trade Centre (ITC) which recently visited Baghdad under the EU's “Strengthening the Agriculture and Agri-food Value Chain and Improving trade policy in Iraq” (SAAVI) project.






Totally Frustrated and Sad  8270d01e-a227-9174-9345-f1af34623dff



Meeting with Amb. Abdul-Karim Hashim Mostafa -
24 September 2021







https://mailchi.mp/wto/wto-accessions-newsletter-n-106-sept-2021-6212593?e=9c067e1dee
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Post by RamblerNash Sun Nov 14, 2021 10:40 pm

@claud39 wrote:Here is another great example, let's not forget that Iraq is part of the Arab Monetary Fund, and they have signed to follow the BUNA system !!!

Another great example of lack of rigor on the forum, more important to share news on the gurus, than real research is actually happening in Iraq !!

Claud (Moose)


UNDER THE HEADING "REQUIREMENTS AND STEPS TO JOIN THE BUNNY PLATFORM"
 2021-11-12

The Arab Monetary Fund is holding an interactive workshop to review the process of preparation and preparation for participation in the "Bunna" platform for Arab payments
The workshop will host more than 200 participants from representatives of central banks and Arab, regional and international financial and banking institutions
 
Today, Thursday, November 11, 2021, the Arab Monetary Fund will hold a "remote" workshop to review the stages of joining the "Bunna" platform for Arab payments, affiliated with the Regional Institution for Clearing and Settlement of Arab Payments owned by the Fund, starting from registration and signing through to With technical equipment and training, all the way to full membership in the "Buna" network of participating banks and financial institutions.
In the workshop, a team from the team working on the “Bunna” platform for Arab payments will talk about all the steps related to the process of joining “Bunna”, and the attendees share their experiences and expertise in supporting and assisting banks and financial institutions participating in the “Bunna” platform for Arab payments to join the “Bunna” system. The implementation of cross-border payments in the listed Arab and international currencies.
The speakers will provide an integrated explanation that includes the steps that those wishing to join the “Bunna” platform should follow to complete the integration process easily and conveniently within a short period of time, and take advantage of the readiness and capabilities of the “Bunna” system to secure interconnection and communication between all banks and financial institutions operating in the Arab region and abroad.
More than 200 participants representing central banks, financial and banking institutions, payment service providers and financial services from the Arab region and abroad will participate in the workshop, to get acquainted with these important and vital topics about the Buna Arab Payments platform.
On this occasion, Mr. Mahdi Manea, CEO of the Regional Institution for Arab Payments Clearing and Settlement (Bunni Platform for Arab Payments), said: “Bunni’s ability to provide a flexible and advanced path to complete the process of joining its payments system and thus persevere in building and expanding its network of participating institutions, constitutes a key element In the implementation of its plans aimed at establishing a wide presence at the regional and international levels.
Mana added : “The momentum we are witnessing in the growth and expansion of our network of participating entities is not only evidence of the success of our system and the level of acceptance it enjoys, but it also motivates us to improve and benefit from the lessons we learn daily through our interaction with users of this system. We are confident that the element of cooperation is an essential factor for achieving growth in the payments and financial sector in the Arab region, and contributing to increasing the efficiency of cross-border payment activities at the international level.”
It is worth noting that the "Buna" platform constitutes an integrated system specialized in providing clearing and settlement services for payments in Arab and international currencies, aiming to enable financial and banking institutions in the Arab region and beyond, including central and commercial banks, to send and receive inter-payments throughout the Arab region and abroad in a safe, reliable, affordable and highly effective manner. Buna offers participants state-of-the-art payment solutions that comply with international standards and principles and international compliance requirements. "Buna" contributes to enhancing opportunities for economic and financial integration in the Arab region and supporting investment links with trading partners in various continents. It is noteworthy that participation in the platform is available to all banks and financial institutions that meet the criteria and conditions for participation in it, foremost of which are the standards and procedures for compliance aspects. 
Belonging to the AMF has nothing to do with changing the value of the Dinar. The AMF uses the rate that is posted at the IMF for all the countries that belong to it.


This is an example of you trying to mislead folks thinking it has to do with some magical "RV"!
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Totally Frustrated and Sad  Empty Re: Totally Frustrated and Sad

Post by RamblerNash Sun Nov 14, 2021 10:41 pm

@claud39 wrote:
@Purpleskyz wrote:Sorry... none of that means a thing Claud. There is no RV. There never will be.


It's your opinion, and I respect it, but I don't agree with you !!

Start doing real research for your members instead of always applying for gurus, you want to put the truth, so put the real truth about the situation on iraq, like the news with the central bank, a lot of movement happening happening now, but you don't take the time to do your own research !!!

And to think that I have applied since 2018 every day on the real reality of Iraq, now that I no longer apply on your forum, it has come poor in your forum !!

What I find sad what your members deserve better, and you are not able to deliver the goods, as Jayzze already mentioned, your forum is made so negative, and you have to change direction, you should follow his remark !! Either to return to your origin from the beginning !!

To finish when I come to take a tour to clean up the forum, I see that you are still behind, and I find it sorry for the new members who register in your forum !!

It's not for nothing that the world is involved in this saga of the dinar, manipulating you as much as the information gurus on Iraq !!

Like I say to new members do your own research to make up your own mind on the topic, if you want to discuss the topic you are going to get put down squarely on this forum, so don't waste your time following the gurus !!

Greetings everyone, I will continue to follow the news on Iraq, and make my own opinion !!


Claud (Moose)
Tsk, Tsk!

Talk about someone who is sooooo negative...

Have you read the comments in parentheses with the postings of the Guru garbage?
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Totally Frustrated and Sad  Empty Re: Totally Frustrated and Sad

Post by RamblerNash Sun Nov 14, 2021 10:48 pm

@claud39 wrote:
@Purpleskyz wrote:And I agree with you re: the so called gurus. I stopped posting them years ago for exactly the reasons that you cite.
As for any truth coming out of Iraq re: currency revaluation? There isn't any.
All I see is the fact that this "investment" is not an investment at all.
But yes... folks need to make up their own minds.


We do not agree on the whole line, but at least you respect the opinions of the other members, and if you do not believe on the subject of the dinars it is also correct !!

You know that the last step is to finish paying the compensation for Kuwait which will be at the beginning of next year, then it will have no trace of UN Chapter 7 for Iraq !!

Ending the sanctions against Iraq is not going to bring about a fantasy "RV" or a change in the exchange rate. Thinking it will is just absurd. The amount is in the millions, but the reserves are in the billions and the money supply is in the trillions!


https://www.un.org/en/about-us/un-charter/chapter-7


The electronic system is almost complete to control financial inclusion with the monetary system, and it works closely with the Arab Monetary Fund, the World Bank, and the International Monetary Fund !!

 They are on the verge of being back on the World Trade Organization, this should be settled by the end of the year according to their news from the country !!

Back on the WTO??? They never left...

https://www.wto.org/english/thewto_e/acc_e/a1_iraq_e.htm


By sending you the last message with arabia Saoudit, notice the entry of banks, according to you ?? are they the same value for their money?

No. They are not the same value. You know that...


Saudi currency
The national currency of Saudi Arabia is the Saudi Riyal (SAR), which is divided into 100 halalas. The banknotes have a value of 1, 5, 10, 50, 100 and 500 riyals. The coins have a value of 1 or 2 riyals and 1, 5, 10, 25 and 50 halalas.
The Iraqi dinar is the official currency of Iraq. It is subdivided into 1000 fulûs (son, in the singular)

The Iraqi dinar (hereinafter "IQD") was introduced on October 15, 2003 and traded during a transitional phase (until January 15, 2004.)

The change was:

1 old dinar (called "print dinar") = 1 new Iraqi dinar
1 old dinar (called "Swiss dinar" and circulating in Iraqi Kurdistan) = 150 new Iraqi dinars
With the introduction of the new Iraqi dinar, a single monetary system for all of Iraq was launched. At the same time the quality, shelf life and security of banknotes were seriously improved.

 You see what means, the rial is for arabia, as the iraqi dinar is for iraq, to ​​market between them, they will have to adjust their currency between the 2 countries !!

Like me, I am in Canada, if I want to go to the United States I have to change currencies to make purchases in the United States !!

For me same thing with the Iraqi dinar, if I go to Iraq as a contractor, they will have a change of currency if I want to make contracts in the country !!

You finally get it...Congratulations!

https://www.dinardaily.net/t94913-opinion-on-the-subject-of-dinars


But as a contractor I expect security, my money to protect in the banks that work with the central bank, that the borders are well secured, and to avoid fraud by using the electronic system, etc ... !!

Finally, let's not forget that this is the project of the international monetary fund, and the world bank for financial inclusion in all countries of the world by 2030 !!

It's not what you think it means.

https://www.worldbank.org/en/programs/sdgs-2030-agenda

https://sdgs.un.org/2030agenda



But I do not want to convince anyone, let each have their own opinion, and let's see for the rest, I will continue my research on my side, more encouraging than seeing articles from the gurus who are shared on your site !!

For all the members of the forum !!

Do like me, do your own research, and make your own opinion on the subject of dinars !!

I wish you a nice day, well had the pleasure of chatting with you !!



Claud (Moose)
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Totally Frustrated and Sad  Empty Re: Totally Frustrated and Sad

Post by RamblerNash Sun Nov 14, 2021 11:22 pm

Try this one Claud...




~~~~~~~~~



Iraq's Finance Ministry: dinar devaluation was the right choice


Totally Frustrated and Sad  1636884643146
2021-11-14 02:11

Shafaq News/ The devaluation of the Iraqi dinar was opted to boost the domestic product, protect the Central Bank's reserves of hard currency, and bolster the budget, Iraq's Ministry of Finance said in a statement on Sunday.

The statements said that the stifling financial crisis that struck the country impeded the state's capacity to accommodate the inflated expenditure rate and growing salary invoice amid a stagnant oil market and perilous public health situation.

The Ministry said that the budget mediates the need for a rational financial administration and a safety net for the vulnerable groups.

"The Ministry's policy was endorsed by the International Monetary Fund and the World Bank, who both admitted the hardships of current financial situation," the statement said.

Earlier in October, the Ministry said that the devaluation halted the freefall of the national reserve of foreign currency and boosted the importation capacity.

In December, 2020, Iraq's central bank increased the sale price of U.S. dollars to banks and currency exchanges to 1,460 dinars, from 1,182 dinars, seeking to compensate for a decline in oil revenue due to low crude prices.

The central bank of Iraq said the key reason behind the dinar's devaluation was to close the gap of widened 2021 budget inflation after a collapse in global oil prices, a major source of Iraq's financial resources.

The devaluation decision came as a preemptive move to prevent "draining Iraq's foreign reserves" and help government to secure public servants' salaries.

But in Iraq's largely dollar-denominated economy, lowering the value of its dinar by a significant rate, which was the highest devaluation rate since 2003, immediately raised the price of goods, hitting living standards.

https://shafaq.com/en/Economy/Iraq-s-Finance-Ministry-dinar-devaluation-was-the-right-choice
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Totally Frustrated and Sad  Empty Re: Totally Frustrated and Sad

Post by claud39 Mon Nov 15, 2021 10:17 am

You want to understand what you want my RamblerNash, Iraq is a member of the Arab Monetary Fund, and it works together, and with the International Monetary Fund, the World Bank etc.

Now you understand Purpleskyz, immediately that we give an opinion your dog guard jumps on you !!

Continue my RamblerNash, very good in your field, either sharing guru news, I return to my lands, more interesting to discuss with a number of individuals depriving them, and to really talk about the news of the day, since on your side you are always late, and continue to stay in your bubble and get your forum members even more mixed up, and the members do your own research and make your own opinion on the subject of dinars !!!

Until next time, no time to waste with RamblerNash and good day to you, Purpleskyz happy to have a chat with you !!


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Totally Frustrated and Sad  Empty Dr.. Ahmed Ibrihi Ali *: The exchange rate, the budget, and the reserves of the Central Bank of Iraq

Post by claud39 Mon Nov 15, 2021 10:37 am

To show your members that you miss a lot of news on the subject, I just shared a new one with you on November 2nd, but this takes some research !!

Good I return to my group, good day to all !!




Claud (Moose)


1ST 12 PAGES OF 32 ...
Dr.. Ahmed Ibrihi Ali *: The exchange rate, the budget, and the reserves of the Central Bank of Iraq


This study is concerned with the relationship between public finances and the reserves of the Central Bank, in the Iraqi economy, which depends on
Officially fixed exchange rate system against the dollar. Central bank reserves move up and down absorption
I balance the surplus payments or cover the deficit. Oil exports are the only component of receivables in Mi Balance Operations
The current budget is about 90% of the general budget revenues. The interest rate has little effect on the demand for
foreign currency, and completely absent from the act in the movement of financial flows across borders. the financial market is shallow,
The public budget deficit is financed mainly in cash by the Central Bank; Borrowing from abroad on a limited scale
market yen in deficit management; And
*
A loan, and the role of tools
I
By direct contracting between the government and the borrower
The government is one of the public banks, and its loans usually do not exceed its deposits in those banks, as for private banks
And the public has no role in financing the deficit.
In light of this system, public finances and prices became dependent on fluctuations in the oil price, and the central bank’s financing of the deficit
The general budget, and its international reserves. The movement of liquidity, money, is governed by the change in reserves and treasury transfers
The latter is more like a dormant debt: it is issued by government banks, deducted by the central bank, and then it is deposited there. operations
The open market, and its basis or the bonding of debt, by buying, selling, lending and borrowing, to control God in Iraq.
*
azo
I
fluidity, no
Even if the balance of government debt changes in the balance sheet of the central bank, to move liquidity up or down, This does not affect the interest rate. Which is determined administratively by government banks, which provide three-quarters of the credit; And in public private banks. The interest rate has no relevance to any financial or monetary policies Extended When the oil price fluctuates between less than $30 and above $100 per barrel, it is not reasonable to manage the economy in a balance between budget revenues and expenditures, and to say that central bank lending to the government is prohibited, which was recently popular in public opinion. It was based on premises unrelated to orthodox economic analysis, which allowed for a regular increase in the oil resource at the time, and it is related to party and personal politics competitions and its media activities. Suddenly, since 2015 we have noticed an extremism, in thinking and rhetoric, which is the exact opposite of that based on leniency with open financing of the budget deficit without known controls, in addition to the commitment of the Central Bank to spend, and without going through the general budget channel through transfers, on programs that are the government’s duty, with the blessing of Influential circles in the decision-making and the media. This behavior ultimately leads to opportunities for reform. Unless we agree on serious risks, respect for the rules of economic calculation and systematic analysis is strengthened, and we abandon crisis management with fear, and appease the authority and the wise ones. At the expense of sincerity to the truth, I do not see a future for Iraq that would affect the devaluation of the national currency despite the rise in the real exchange rate, a frightening policy that many specialists hesitate to recommend, because its success requires measures to protect the poor and others to benefit from them to advance the economy, and this is not guaranteed. Nevertheless, the reduction remains a familiar policy adopted by many countries, as Iraq did at the end of 2020, with limited negative results, and the reduction can be employed to improve performance and is considered developmental. As for the national economy, it is possible to raise the value of the currency, and it is a disgraceful measure, and it is not among the accepted policies and it is harmful to compensate its gains for the poor with easy measures. The support for devaluation is not a well-founded position, and a careful and objective study of Iraq's data does not support this proposal.
In these treatments, we do not go beyond the tools and mechanisms that officially exist and are effective in Iraq, and we limit ourselves to the vocabulary
necessary. Because the awareness of the economic system is ambiguous, between translated knowledge whose subject has not yet been discovered; and circle
Government took the current practice and diligence as a guide for the decision. The intent of this is a brief re-examination of the curriculum
In the analysis, it attempts to regulate the relationship between the central bank and public finance through financing public spending and public deficits
Budget, exchange rate and central bank reserves. And in the hope of persuading the decision-making departments and the advisory group
By ceasing to multiply the channels of communication between the Central Bank and the financing of public programmes. and confinement to remittances
The treasury insisted on fixing its ceiling in order to ensure financial control, which is an essential element in the maintenance of
Society and political stability in Iraq.
Inflation and Exchange Rate Change:
Economic theorizing assumes that the relationship between inflation and unemployment is inverse, and it is also in the course of facts on the
What is more, when the rate of output growth decreases, the other side is an increase in unemployment, and a decrease in the rate of inflation is expected. then
Inflation and unemployment rates exceeded their average levels, with a clear and continuous difference, with a direct correlation
Between them, this behavior is different from the normal pattern, which is what is meant by the concept of stagflation. Because unemployment increases, or
Its rise above the mean does not coincide with a high rate of growth in economic activity, so it is wrong to add an adjective
stagflation into an advanced economy whose annual growth exceeds 3%; Or a developing economy whose growth exceeds 4% annually
to eliminate stagnation. It is also not permissible to describe the economy as stagnant inflation with low rates of movement of the general level
Fulfill two elements there is no way to
naked
I
Consumer prices to avoid inflation. Stagflation is a complex concept
Use it when one of them is missing.
Let's look at the data of the Iraqi economy: the rate of growth of output for the years 2003-2012, there is no doubt that it increased
For reasons related to the initial situation, which is the end of the siege, it has reached 4.10% annually; and 8% for the period 2004-
2012. The economy is not described as stagnant inflation, during that period, despite the rampant inflation because economic growth
High unemployment decreases to the lowest possible rates structurally. In the years 2012-2016, it decreased
Growth to 47.6%, which also does not allow for stagnation. Iraq's economy has experienced turmoil since 2014.
War and confusion in government spending, the main factor in determining aggregate demand, and the Corona pandemic. growth was negative
For 2017 and 2018 and in 2019 it got up to 4.4. %
The other element in the concept is inflation, and based on the data of the Central Statistics Organization, it may have regressed in Iraq
Below its rates, which are common even in developed countries, it is almost close to zero.
The consumer price index is 7.104% in September 2020 compared to the base year 2012, meaning that the rate of
The annual increase in consumer prices is 6.0%, and therefore there is no inflation in Iraq to be described or dealt with by any decision.
At the end of 2020, the exchange rate changed to 1450 dinars to the dollar, an increase of 6.21 percent over the previous official rate
1192 dinars to the dollar. The general level of prices must rise as a result of the depreciation of the external nominal value of the currency
National. The price increase, in this case, is compared with the exchange rate adjustment percentage. The record has risen!
Consumer prices in September 2021 increased by 3.7% compared to September 2020, which is a low increase compared to the price change
The exchange rate indicates the tendency of the Iraqi economy towards price stability.
The price increase after adjusting the exchange rate is not of the type of inflation, but rather a shift in the level Shifting, while
Inflation is a continuous increase in the general level of prices. The price shift has come, which is lower than expected yet
The exchange rate change, with the Corona pandemic, and the confusion of the oil resource crisis, and these are related events
*
NS
public finance
Temporary adjective, described as exogenous, that is, not generated from within the working mechanisms of the system, while
Inflation, or stagflation, endogenous internal results. In September 2021 the record reached Iraqi consumer prices are 3.112% relative to the base year 2012; and its counterpart to the United States of America
67.118 percent. Even after adjusting the exchange rate, the pace of change in the general level of prices remained low in Iraq.
Compared to developed countries that have recently witnessed the lowest inflation rates since the fifties of the twentieth century.
The stability of energy prices in Iraq, fuel and electricity, has helped reduce the inflation rate, and other countries are not able to
Numerous control of energy prices. Stability in energy prices is a successful policy that isolates oil price fluctuations
and gas prices at home, which is an advantage for Iraq supportive of controlling production costs, and kept away from the consumer
A significant source of inflation. The combination of the stability of the exchange rate with the stability of energy prices to reduce inflation is added
They include the stagnation of taxes on goods with their decrease or absence, and the slowdown in the growth of aggregate demand after 2012.
The decision-making circles are expected to pay attention to the sources of price stability in Iraq, and not respond to the proposals
disrupting it, and avoiding initiatives that have the possibility of increasing inflation.
The nominal value of the Iraqi dinar suddenly rose with a lightning shock after the entry into force of the oil-for-oil agreement.
Food in late 1996, as the price of the dollar fell to abysmal levels, touching 400 dinars to the dollar some
At the time, the official authorities did not intervene at the time to avoid the shock or buy foreign currency from the exchange market
Sufficient amounts to withstand violent transformation, and economic damage was caused by the course of the shock and huge losses in
Trading. It was also a strong political desire to lower prices and improve consumption levels, and it happened
actually. Then the price gradually moved up to about 2000 dinars to the dollar in 2002.
Then the exchange rate fell to 1500 dinars in 2003 and was called the budget exchange rate, i.e. the price at which
It translates its revenues, in foreign currency, and its foreign payments into the Iraqi dinar. The annual average In 2006, it fell slightly to 4.1467 dinars to the dollar, and we noticed, at that time, a political desire to raise the nominal external value of the dinar, and it was strong during the days of the temporary coalition authority. Then the International Monetary Fund took the initiative to raise the value of the dinar, and the price of the dollar fell, to become 1170 dinars in 2009. One of the justifications that was given at the time was the absorption of inflation. It is a strange perception, as it is not uncommon in economic analysis, nor in policies, to raise the value of the national currency to reduce inflation. We will come to this issue. Adjusting the exchange rate to 1450 dinars to the dollar since the beginning of 2021 brought it back to a little lower than it was in 2006, as if it canceled the previous, aforementioned, cut to the price of the dollar. We understand from this that the nominal value of the Iraqi dinar changed between 1990 and 2012 due to economic factors, decisions, and expectations: due to the blockade, the price of the dollar rose to high levels that reached its peak before moving towards the oil-for-food program; Then the expectations shock occurred after the adoption of the program, and the exchange rate moved again gradually with a slight intervention from the Central Bank. We say intervention because the central bank was not in control of the foreign currency supply side as it was before 1990 and after 2003. In 2003 the nominal price of the dollar in dinars fell, then it fell again at the initiative of the International Monetary Fund, which was approved or approved by Iraq, and at the beginning of 2021 it decreased The nominal value of the Iraqi dinar. These days, writings and statements appeared to raise the value of the dinar, i.e. cancel the last amendment, in part or in whole, based on concepts including: “stagflation” and it was found that it does not exist in Iraq; To support economic growth, this is a strange argument, as it is known, and agreed upon, that raising the value of the national currency does not help economic growth at all because it involves reducing international competitiveness. As for devaluing the national currency, this is a familiar policy and many countries have removed it, and a course in international monetary economics or international financial relations is not without them.


SUIT...


http://iraqieconomists.net/ar/wp-content/uploads/sites/2/2021/11/%D8%AF.-%D8%A3%D8%AD%D9%85%D8%AF-%D8%A5%D8%A8%D8%B1%D9%8A%D9%87%D9%8A-%D8%B9%D9%84%D9%8A-%D8%B3%D8%B9%D8%B1-%D8%A7%D9%84%D8%B5%D8%B1%D9%81%D8%8C-%D8%A7%D9%84%D9%85%D9%88%D8%A7%D8%B2%D9%86%D8%A9%D8%8C-%D9%88%D8%A5%D8%AD%D8%AA%D9%8A%D8%A7%D8%B7%D9%8A%D8%A7%D8%AA-%D8%A7%D9%84%D8%A8%D9%86%D9%83-%D8%A7%D9%84%D9%85%D8%B1%D9%83%D8%B2%D9%8A-%D9%81%D9%8A-%D8%A7%D9%84%D8%B9%D8%B1%D8%A7%D9%82.pdf
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Totally Frustrated and Sad  Empty Re: Totally Frustrated and Sad

Post by claud39 Mon Nov 15, 2021 10:38 am

It is known and mentioned in the documents of the International Monetary Fund (4 table, 2020 IMF, AREAER) that Iraq is one of the countries of bilateral stabilization against the dollar, rather the traditional stabilization of the Peg Conventional. The value of the dinar proposed by the International Monetary Fund 2006-2020, with the exception of Iraq. It was an anomaly. The strange thing is that it is intended to promote a country to raise the value of its currency, and it may even rise as a by-product of the flotation; Or you may take such action again. Do not, because it is tied to another currency, the euro or the yen ... or others, and the value of the flotation currency may change towards the dollar, so that the effect is transferred to the currency associated with it. And between 2005 and 2020 only, the value of the Swiss currency rose against the dollar more than the Iraqi dinar. It is known that the Swiss currency has moved floating, and it did not happen that the Swiss Central Bank raised it. And based on the above-mentioned Fund report, the bilateral pegging countries take the general, nominal, and only fixed exchange rate from the exchange rate and are satisfied with it, and within this group only two countries, Samoa and Solomon Islands, added other indicators besides the exchange rate. And Iraq does not target inflation in the conventional sense, and it cannot control liquidity, that is, the amount of money, and it does not benefit it to control it if it can, and this is explained in detail in studies by the researcher. Therefore, it can be said that stabilizing the exchange rate in Iraq is a very important tool for central banking, and it is necessary not to confuse this essential fact, especially since the awareness of the economy and what is happening in the economic management circles is ambiguous with a lot of vocabulary that has no function in Iraq except to spread illusions. The exchange rate is a clear guide in the business sector on which price expectations and the purchasing power of future returns are based, and therefore its stability helps in improving the investment environment. The other argument for raising the value of the dinar, these days, came from the demand to improve the level of the poor, as raising the price of the dollar hurt them. This is true because the purchasing power of money has fallen, forcing the low-income groups to reduce their consumption and hurting them. But the reason for the ineffectiveness of the policy of redistribution of income, which is one of the most important conditions for merit in the contemporary state. Maintaining real income for the lowest income group should have been ensured by cash benefits, and it was necessary not to sacrifice the welfare of the poor for the sake of fiscal balance or economic development, nor to use the exchange rate to compensate for the inability of economic management to redistribute income. Countries of the world redistribute the income earned in the private sector through taxes and subsidies, and it is sufficient to look at the allocations and taxes of social insurance in other countries to know what the contemporary public finances have reached in terms of system development, accuracy of analysis and effectiveness of tools. While we are unable to redistribute the income earned from the public sector in our country. That is, the government cannot or may not want to guarantee justice in benefiting from the public funds that are under its jurisdiction and have the powers to dispose of it. With a little attention and conscientiousness, it is possible to reduce unnecessary margins in construction and equipment contracts, and review the disparity in workers’ compensation from salaries and types of allocations and benefits, not only in the budget departments but in the entire public sector, what prevents. It is not correct to say that there are political obstacles, but rather that they are the prevailing values. They flatter the poor with sweet talk, and their souls are haunted by the prestige of the rich and those who benefit from the existing arrangements. It is a given in the contemporary economy that the requirements of economic growth and social justice must be reconciled, the exchange rate for price stability and economic growth, and social justice has its tools. It is not possible to serve more than one goal with one tool, rather it is possible to employ more than one tool for one goal. This is one of the mathematical foundations of economic policy. Reducing the price of the dollar to provide a subsidy, proportional to the level of income, from the oil resource for all, hitting the rich many times as much as the poor, while sacrificing economic growth, notice any superficial miserable measures and no responsibility for social justice.
Real exchange rate of the national currency:
It is an index of the purchasing power of a unit of foreign currency relative to the purchasing power of its equivalent in the national currency
at the nominal exchange rate. If we go back to 2004 and take it as a basis for comparison, it has become purchasing power
The dollar in 2019 is about 74% of what it was in 2004; And the local purchasing power of the dinar has become
About 36% of what it was in 2004, and the nominal exchange rate decreased from 1,453 dinars to 1,192
Accordingly, the purchasing power of the dinars equivalent to the dollar decreased to approximately 5.29% of what it was in
2004. Therefore, the real exchange rate of the dinar became 251% in 2019 relative to what it was in 2004.

Buy buying power

It was bought with less dinar purchasing power, and the dinar became expensive as long as it That is, the dollar has become cheap, as it

higher dollar. Thus, the concept of the real exchange rate is composed of the nominal exchange rate and the index number
prices at home and abroad. The real exchange rate is related to the concept of purchasing power parity
Parity Power Purchasing, which assumes at trade openness the principle of one price in the world for goods
stores it; Or that the purchasing power of the dollar is equal to the purchasing power of its equivalent in other currencies at the prices of
Nominal exchange. And replace the absolute parity of the purchasing power with the relative parity, starting from a base year as
If the tie was achieved then. Which means that the foreign currency exchange rate in units of the national currency
It moves in the ratio of the price level at home to its counterpart abroad. In simple terms, the exchange rate of the currency increases
foreign, as the difference between internal and external inflation.
The concept can be simplified in another language, if we imagine the costs of production in Iraq moving in the price index
The consumer is a very logical perception; And production costs in the United States change by figure
There will be a standard consumer price concept. A commodity that was produced by Iraq at a cost of 1453 dinars in 2004
Its cost rose to 4,064 dinars in 2019, according to the consumer price index. And the same item was
Produced in the United States of America, it costs $35.1. Iraq's commodity was being sold in the states
The United States in dollars in 2004 became sold for 39.3 dollars in 2019, now we calculate the price of the Iraqi commodity
The price of the American commodity was correct in 2004, it became 51.2 or 251% of what it was. understand
From the definition that the inflation difference between the inside and the outside is the only determinant of the change in the real exchange rate when it is stable
The nominal exchange rate. In the dark of the changing nominal exchange rate, the path of the real exchange rate depends on
The direction of movement of the nominal exchange rate and the difference in inflation. Until the beginning of the siege, Iraq depended on the exchange rate
fixed nominal; But the market is counting its deals in violation of the law.
I
Parallel exchanges exist without an official capacity, but rather The parallel exchange rate gradually separated from the official one in 1985, reaching one dinars to the dollar, while the official remained 310.0 dinars The dollar and exceeded 2 dinars to the dollar at the end of the eighties. However, the dominance of the state in importing makes the exchange rate The official ruler of prices is more than the price in the parallel market, and at the time of the siege the opposite became true.
Figure No. (1)
Consumer price indices in the United States of America and Iraq before the embargo
Data source: Iraq's economy in studies by researcher Dar Al-Ayyam - Jordan - Iraq, 2013; The World Bank website
.Bank data 
Therefore, we conclude that the real exchange rate of the Iraqi dinar has been increasing since the end of the seventies as a result of the difference between internal and external inflation, as shown in Figure 1.
The stability of the real exchange rate of the national currency includes maintaining the purchasing power parity, if it was the basis of the number
The price index example in 2010 is the ratio of the price index in Iraq to its counterpart in a currency country
The fixation is one correct, i.e. 100% in the years following 2010. This is when limiting the price concept.
Binary real exchange. As for the effective real exchange rate, it requires
The ratio of the internal price index to a price index representing all trading partners. can
Arriving at the effective real exchange rate with a weighted average of the bilateral real exchange rates of the partners
commercial.


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Totally Frustrated and Sad  Empty Re: Totally Frustrated and Sad

Post by claud39 Mon Nov 15, 2021 10:39 am

An appreciation of the real exchange rate of the national currency implies a decrease in the international competitiveness of the country in question and vice versa correct. Therefore, it is seen as evidence of the appropriateness of the nominal exchange rate. There is a common perception that the exchange rateThe real PPP is equilibrium over the long run.
As for the short-term equilibrium exchange rate, its definition does not differ from the equality of the foreign currency supply
and the demand for it in the exchange market. We will examine other aspects of the exchange rate concept when dealing with reserves,
In this paragraph, we follow the movement of the real exchange rate of the Iraqi currency against the dollar. And may object to our approach
This is from the point of view of the relationship of the real exchange rate with the requirements of equilibrium of receipts and payments for the current operations in the world
The balance of payments, or even the overall balance of the balance of payments including all receipts and other payments
Except for the movement of the international reserves of the Monetary Authority, and there is no room for an extensive or even brief discussion of the balance
exterior. I see that as long as the real exchange rate is calculated for a group of countries with the same definition, it is valid
NS
I
Pal
I
For comparison and relative judgment, even if it was an increase or a decrease, because that exaggeration, assuming its existence, is
Regular coverage of all countries to the same degree.
To calculate the real exchange rate, the consumer price index in the concerned country is attributed to its counterpart in the United States of America, and then the ratio is divided by the real exchange rate of national employees by the foreign exchange index in units of currency. And thus leave. The real exchange rate of the Iraqi dinar has increased before and after the embargo and decreased since the beginning of the embargo, due to the acceleration of the dollar exchange rate, surpassing the general level of prices, and therefore it fell, and reached the lowest level in 1995. Then it increased again because inflation is higher than the exchange rate change. After 2003, Iraq entered another stage of hyperinflation, with a decrease in the exchange rate of the dollar against the dinars, which means an increase in the real exchange rate of the national currency. Iraq did not retain the advantages of the low real exchange rate during the embargo, in order to benefit from the abundance of foreign currency in the economic development of the non-oil commodity sector. Of course, it is not possible to maintain the relative prices of 1995, and it is not necessary, but it is sufficient not to go too far in inflation and refrain from raising the nominal value of the dinar. The hyperinflation between 2003 and 2008 contributed the largest component to raising the real price of the Iraqi dinar. Inflation at that time added to the impact of reducing the price of the dollar a lot. It is almost impossible to anticipate or neglect it, as the prices of petroleum products have risen to ten times what they were, and in the parallel market, this rise is doubled. s public spending. One of the results of those years’ actions was the violent rise of the exchange rate and the change of salaries radically, and the real Iraqi dinar appeared, thus eliminating the possibility of competition for the most internationally traded commodity activities. In addition to the opening of the Iraqi market to the cheapest commodities in the world, and keeping the productive units of the public sector idle or disrupted.
PAGE 13 IS A CHART 
Figure No. (2) The real exchange rate of the national currency against the dollar in 2019, the base year 2004
The calculation that we conducted included all the countries for which data was available on the World Bank website, and in Figure (2) we chose a sample that contains the minimum and maximum real exchange rate and what is between them. It is clear that Iraq had the highest increase in the real exchange rate of its national currency in 2019 on the basis of 2004. When the base year was changed to 1970, the real exchange rate in Iraq remained high in 2019, but it is the second country in the ranking. Evidence that the rise in the real exchange rate after 2003 exceeded the compensation for the decline during the siege. The scale presented in Figure (2) is based on the movement of relative prices over time, and its credibility, as presented, is based on ranking all countries on the same scale, and therefore there is no doubt in the validity of the comparison. Demonstrating the high level of the real exchange rate, in this study and its predecessors, does not mean the temptation to depreciate the value of us, the difficulties and risks surrounding this policy. But to clarify the damage inflicted on the Iraqi dinar, the Iraqi economy was clarified as a result of the rise, and to warn against revaluing the currency, and to take compensatory measures that mitigate the negative effects of the rise in the real exchange rate of the dinar. After explaining the definition very simply, the positive effect of controlling inflation became clear, and to what extent economic development depends on raising productivity and reducing costs. To confirm the high level of the real exchange rate, we went back to comparing GDP in current dollars with its estimate in international purchasing power PPP. Output in current dollars uses domestic prices translated at the official nominal exchange rate, while estimating output in international purchasing power depends on calculating the value of goods and services at US prices for all countries. It is known that local prices rise in relation to international prices according to An increase in average per capita GDP. We assume the existence of a pattern of increasing domestic prices relative to international ones, and discover it
We ran a third-degree regression equation for the countries whose data appeared on the World Bank website for the year
may 2018,
Its dependent variable is the ratio of domestic to international prices and its independent variable is GDP per capita in current dollars, with
Convert data to natural logarithms. The result of the estimation was appropriate with high accuracy, as it exceeded the coefficient of
Selection, sq-R, 95. Then the estimated values from the equation with the actual were presented in Figure (3)
The country under the regression curve, typical value, described domestic prices at the nominal exchange rate
It is low, which means a relative decrease in the real exchange rate of the national currency, and the opposite indicates a rise in the exchange rate
Its real exchange.
We note the location of Iraq in the form of diffusion, then we turn to the locations of the Kingdom of Saudi Arabia, Algeria and Norway, as these are countries
Oil prices also, must have been affected by the characteristics of the rentier economy. We find Iraq above the regression curve, and Saudi Arabia
Algeria without him, and Norway completely. We conclude from this analysis the validity of the scale presented in Figure (2).
Which showed the high level of the real exchange rate of the national currency in Iraq. And both are in line with reality
The high costs of producing goods traded in Iraq and the declining international competitiveness greatly affect markets
goods.

Figure No. (3) The ratio of domestic to international prices (PPP) of GDP in 2018 as a function of average output per capita Data source: Data Bank World website. Smoothing curve A third-degree regression equation. We do not expect extreme accuracy in estimating PPP output, but the same method is adopted for all countries and therefore makes the results comparable. There is no doubt that the evaluation is comprehensive for all goods and services, and therefore it is unreasonable to refute it by comparing Iraq and the United States of America to the value of a basket of selected goods. Moreover, this comparison overlooks the impact of the disparity in the levels of economic development and its implications, so it is not permissible to judge prices High or low, without linking the assessment to the level of economic development expressed by the average GDP per capita.. A common definition of the real exchange rate is the ratio of the level of prices of non-traded goods and services to the traded ones. And because the prices of traded goods, in principle, are international and are called borderline in the investment analysis literature, so the rise in the real exchange rate is due to the increase in the prices of goods and services of a local character to the prices of a group of internationally exchangeable goods and services. The latter group is subject to cross-border competition, which is efficient competition to cut costs. While the group of goods of a local character is almost independent and is inherently protected from competition for efficiency. With the relative decline in the rates of raising productivity at the national level, the relative costs in the concerned country rise, and the prices of all goods and services rise, so the production of internationally tradable goods and services declines, and non-traded goods and services are not affected, which is what happened in Iraq. We have explained in a previous study that the characteristics of the rentier economy alone do not explain the decline in non-oil commodity production, but rather the effectiveness of other factors is necessary. And from what we have obtained from research to identify the effectiveness of the real exchange rate in economic growth and industrialization (industrialization and major economic transformations, for the researcher), we did not find that the depreciation of the real exchange rate is sufficient for growth and changing the structure of production, as its relationship to growth and industrialization was not certain, clear and strong. But it does not work automatically and is not able to remove other obstacles.Therefore, countries may deliberately devalue their currency and not see the desired results because the devaluation did not come in the context of integrated measures.It is better, and even necessary, to focus economic management on the tributaries of the exchange rate devaluation. The real Iraqi dinar with the stability of the nominal exchange rate, the most important of which is that the inflation rate at home remains lower than abroad, and this has been neglected in the past and is not even aware of the decision-making, and inflation has decreased in recent years as a by-product of the course of the economy and the level of aggregate demand and import prices in addition to the stability of energy prices As indicated above, it is important to constantly investigate all opportunities to reduce costs, which are reflected in improving Iraq's competitiveness.


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Totally Frustrated and Sad  Empty Re: Totally Frustrated and Sad

Post by claud39 Mon Nov 15, 2021 10:44 am

Reserves: What is meant by the reserves of the Central Bank, i.e. the assets of the international means of payment in its possession, namely: gold, special drawing rights and the balance with the International Monetary Fund; Foreign currency in the treasuries, and financial assets in the currencies of other countries: such as deposits in central banks and foreign banks, or debt securities issued by the governments of foreign countries such as treasury transfers or government bonds. The reserves appear on the side of the assets (assets) in its balance sheet. The designation of foreign currency reserves is often used, idiomatically, with the inclusion of gold, special drawing rights and other non-foreign currencies. Securities, deposits, currencies, the financial position with the International Monetary Fund, special drawing rights and gold When adding foreign currency assets with other parties in the public sector, the Fund uses the expression total international liquidity in foreign currency It is important to note that the reserves of the Central Bank are liabilities of non-residents, including: The currencies of the dollar or the euro in its treasuries are liabilities on the US Federal Reserve and the European Central Bank. As for the liabilities on resident entities, including the government, they are not from the reserves, even if they are in foreign currency. Also, deposits of local entities in foreign currency in the Central Bank are not considered liabilities. It is foreign and therefore it is not subtracted from the foreign assets in order to arrive at the net reserves, because it is local, even if it is in foreign currency. Describe the reserve assets as consisting of the external assets available in the balance of payments manual that shows a complete readiness for the monetary authorities, and under their control, to finance the imbalance of the balance of payments directly or indirectly… in the exchange markets. This definition, which was previously mentioned, envisions managing the external financial balances of the public sector to its capacity, the government and its dependents, in the Central Bank.
In the macroeconomic accounting convention, the central bank’s net external assets, reserves, decrease or rise to fill the deficit in the balance of payments or absorb the surplus. The deficit or surplus of the balance of payments is equal to the internal deficit or surplus, and the latter is net saving, positive with the surplus and negative with the deficit. To facilitate the supply, we add the public sector institutions, other than the government, to the private sector, and we call this category the rest of the economy. Therefore, the surplus in the current payments balance corresponds to the surplus of the government, the general budget, in addition to the surplus of the rest of the economy. current payments surplus = budget surplus surplus of the rest of the economy; The analogy is true for the deficit, it is a negative surplus, i.e.: a deficit, or a surplus, the external balance = a deficit, or a surplus, the budget is a deficit, or a surplus, the rest of the economy; Assuming that the surplus of the rest of the economy is less than the budget deficit, then the balance of current operations of the balance of payments will be negative. Sections of the balance of payments from top to bottom: net merchandise trade balance; net me balance goods and services; The net current operations, that is, the current account, which includes in addition to the net balance of goods and services, the net income of the basic production factors plus other income transfers. Under the current account comes the net capital account; Then the net financial account, which includes all investment flows, direct and portfolio investments, loans and the movement of bank deposits. The capital account provisions in the approved system are limited and have no importance in the external balance. However, the specialized literature still uses the term capital account to denote all balance of payments transactions except for Current account and change in international reserves. When it is said the movement of capital is meant, in most cases, deals
The capital account and the financial account in the statistical system of the balance of payments. And we come to the important congruence
Which shows how the reserves of the Central Bank increase or decrease:
Net current account + net capital account + net financial account + change in the bank's reserves
central = zero.
Thus, the issue became clear: a deficit in the general budget that is not filled by surplus savings from the rest of the economy, moving to
A deficit in the current balance of payments. The latter, when it is not absorbed by positive net capital and financial flows, moves
To the international reserves of the Central Bank drains part of them.
The balance of current operations in Iraq is limited to the side of receipts on oil exports, and therefore it rises and falls
The known ranges of oil price fluctuations. Assuming the stability of the payments side in the balance of current operations
Net current account fluctuations become evident and are violent. The normal economy is diversified in exports, especially
On a wide base of manufacturing industries, its current receipts, even in crisis years, do not decrease by more than
5% or 6%, and such a decrease rarely occurs. While in Iraq, receipts decrease by more than 50. %
As for capital and financial flows, even if they are positive, they are small, and loans at most, and even investments
In the oil sector, they are like loans, as companies spend today to recover what they spent tomorrow. In such a situation
How can we say that 60 billion dollars the reserves of the central bank are many. Indicators circulated for adequacy
Reserves are not suitable for an economy whose exports are a single primary commodity.
After 2003, the rise in oil prices helped to accumulate international reserves and maintain normal levels
To be imported when the price of oil falls. It is unreasonable to bet on high oil prices
The opposite is higher, as it may decline and remain fluctuating around a low average for a long time. Therefore, a prudent management of the economy cannot be indifferent to the reserves of the Central Bank. As long as we are unable, and for years to come, to diversify exports, the competent authorities must take the price of oil as a guide to monitor reserves. When the oil price rises above a certain limit, government spending is restricted and the central bank refrains from lending the budget in order to raise the reserves to be used when the oil price drops to finance the external deficit as a result of the decline in the oil resource. It is known that the demand for imports of goods and services depends on national spending and the real exchange rate of the national currency. National spending is the aggregate demand for goods and services, ie the sum of household and government consumption, private investment, investment spending from the public budget, and self-financed public investment. National spending, aggregate demand is the national income plus the balance of payments current account deficit. However, the demand for foreign currency is not limited to financing imports, but there is also a demand for other purposes that cannot continue to be ignored. In other words, to avoid Iraq reaching the edge of a crisis, we note the determinants or sources of aggregate demand for foreign currency and the extent to which government spending contributes to it. On the other hand, we take advantage of low inflation to control the real exchange rate of the Iraqi dinar without an increase, or it may decrease gradually, even at a slight annual rate. Because the relationship between the demand for foreign currency and the real exchange rate of the dinar is direct, as the rise in the real price of the dinar means foreign currency licenses, and the demand for cheap usually increases, and therefore we object to raising the value of the Iraqi dinar. Oil exports, which are the receipts side of the balance of payments, are also budget revenues. In countries where the public budget is independent of the balance of payments, a relationship has been found between the general budget deficit and the balance of payments deficit with a causal relationship from the budget to the external balance. With the fixed exchange rate driving the budget deficit, through a mechanism The multiplier leads to an increase in aggregate demand and, accordingly, the demand for foreign currency, and the effect of other factors is constant, pushing towards the external deficit. With the flotation system, and when the budget is financed from the financial market, the interest rate rises, and in developed countries, money flows from abroad for investment, so the exchange rate of the national currency rises in response to foreign currency flows from abroad, and then exports decline because its relationship is inverse with the exchange rate of the national currency to show the deficit in the balance payments. In all cases, there is a relationship that cannot be overlooked, and it is termed as "Deficit Twin", meaning that they are paired. But in Iraq, it is a single deficit with two faces, because oil revenues, which are receipts for the balance of payments, are the same source of financing government spending, and therefore the relationship is a foregone conclusion. Figure (4) shows the tendency of demand for foreign currency to decline after 2013 for the reasons stated above, the most important of which is the decline in aggregate demand growth and the regression of investment activity in particular; The real exchange rate also stopped increasing and then decreased slightly. If demand continued to rise as it was until 2013, reserves would have declined to critical levels.

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Totally Frustrated and Sad  Empty Re: Totally Frustrated and Sad

Post by claud39 Mon Nov 15, 2021 10:45 am

Figure No. (4) Foreign Currency Sales in Million Dollars December 2004 to August 2021 Data Source: Central Bank of Iraq Statistical Website. Monthly sales and the smoothing curve are moving averages for the 12 months ending in the month shown. The fluctuation of monthly sales is violent, and it was disturbed after 2014, in line with the confusion of public spending and aggregate demand during the exceptional conditions of the liberation war, which also witnessed a setback in the price of oil and its later irregularity. The international reserves of the Central Bank have decreased since 2015, and the smoothing function, the regression curve, which is presented in the appendix, is trending flat or declining at a slight pace. This tendency is understood as the transition to a stage in which the economy is approaching a structural deficit in the balance of payments. The main function of central bank reserves is to finance the private sector's demand for foreign currency to import goods and services and other foreign payments. It complements the difference between the demand for foreign currency and its flows 
The Ministry of Finance to the Central Bank, from the reserves. Therefore, the appropriate measure of its adequacy is the number of months
the sales. Assuming a drop in the price of oil to the extent that the Ministry of Finance stopped selling foreign currency to the bank
The central bank because the revenues from it are barely enough to cover the government’s imports, then government spending depends
The internal sector is funded by the Central Bank, and the private sector’s demand for foreign currency is met from the reserves.
Figure (5) depicts (how the adequacy of reserves decreased in terms of the number of months, i.e. the period allowed by the balance of
Reserves to sustain imports and are a guarantee of economic stability. And when the reserves reach the border
As much as it allows, the economic and living situation worsens greatly.
Postponing the serious start of industrialization to diversify exports is puzzling, because this situation is waiting for a suffocating crisis that we are forced to
To deal with it with difficult decisions, Iraq was not prepared socially and politically to bear it.
Figure No. (5): Reserves in the number of months of possible sales
NS
Budget and public financial stability:
Among the reasons for postponing the radical treatments of the economic problem is the illusion of wealth. The majority of Iraqis feel that the oil resources have become abundant, and the issue differs when subjected to careful examination. Despite the rise in the price in the general trend, we find when evaluating oil resources in the constant purchasing power of the dollar and the average per capita, a decrease in the general trend illustrated by Figure (6). (Where the path reached its climax in 1980, and the difference is wide between 1980 and 1989 and the last year after the war, which is the only normal, However, price governs revenue. Then, until 2003, the embargo was imposed, then the per capita income escalated, and a new peak reached in 2012, much lower than the possibility of 1980 and close to the average per capita income in 1974. The population is increasing and the resource is the only one. If the real price of oil remained constant as it was in 1980, it would now be on average per capita a third of what it was then. The future is determined by the price and excludes the possibility of it remaining stable above $75 for more than three years. Financing the general budget deficit from the Central Bank collides with the balance of payments constraint when the oil price falls. Treasury transfers in the possession of the Central Bank reached a maximum of 452.42 trillion dinars in September 2021, and it was 452.40 trillion dinars at the end of 2020. And 125.14 trillion dinars in May, May, 2020. Decreased from 254.16 trillion dinars in August 2018. The first borrowing from the Central Bank after 2003 was in February 2015 with an amount of one trillion dinars. According to the latest official data, the budget's internal debt is 215.67 trillion dinars. Of which 121.21 the debt of government banks on the budget, but looking at the side of bank deposits that government deposits, the budget, in government banks 8.25 trillion dinars. That is, the actual debt does not exceed the government loan from its money. Among the central bank transfers. And it has always been like this, on the other hand, the deposits of public institutions in banks were 1.25 trillion dinars, and the credit provided to public institutions by banks was 5.2 trillion dinars. Even the credit to the private sector is lower than its deposits in banks by a significant difference. total Deposits in banks are 87.91 trillion dinars, and the credit provided by them is nearly 51 trillion dinars. In terms of balance, this is useful, but it is necessary to show the financial position of the public sector unified, without the central bank, just as the Ministry of Finance is not a ministry of budget and budget departments, but rather responsible for public finance. And public finance in the language of contemporary economics is synonymous with the economy of the public sector, i.e. the general government and all its affiliated units, because the financial independence of these units does not remove them from the public finance department. Figure No. (6) Oil exports per capita in purchasing power of dollars in 2010.
The central bank’s debt on the budget is those transfers, and another 5.4 trillion dinars. The Central Bank also lent to the specialized banks, and it took over a credit program with soft loans managed with private banks. Thus, reality has dictated the regulation of public financial stability with the Central Bank and not independently of it. It is not logical to go beyond these hard facts to propose a “fund” in which sums of no more than 2 billion dollars per year are placed to be invested abroad for future generations, in one form, and in another, to stabilize the budget. It is known that the term future generations means a long-term investment, while the stabilization fund money may be used at any time. There is no government that does not have financial assets managed abroad, and this is how Iraq was in its royal and republican eras. And colleagues say that Iraq had funds between 36 to 40 billion dollars in 1980. After 2003, the government had funds and the Central Bank. These huge stocks have always been managed with rules that are known or directly identifiable from the relevant departments without having to imagine them. The importance is not in the nomenclature, but in the approach to financial investment. As for the fund, it is a general designation that does not benefit a specific content. The Fund: money allocated for a specific purpose, just like this in the dictionary and the financial encyclopedia Inestopedia. The best arrangements for Iraq are that all public funds in foreign currency are managed in the central bank and on its balance sheet to limit and control reserves. Or, there is nothing wrong with maintaining the current regulation, which is the systematic management of treasury funds outside the balance sheet of the Central Bank. Funds are always present in Iraq in the idiomatic sense, but the label is not necessary, just as the central banking institution is not always called the “Central Bank” but rather the Federal Reserve, the Bank of England, the National Bank ... and the Monetary Agency, which are always central banks like the Iraqi Central Bank. . It is wrong to create an institution to manage some of the money that is intended to be deducted from the oil resource, and it is certainly extracted, in the end, from the reserves of the Central Bank.

SUIT...

http://iraqieconomists.net/ar/wp-content/uploads/sites/2/2021/11/%D8%AF.-%D8%A3%D8%AD%D9%85%D8%AF-%D8%A5%D8%A8%D8%B1%D9%8A%D9%87%D9%8A-%D8%B9%D9%84%D9%8A-%D8%B3%D8%B9%D8%B1-%D8%A7%D9%84%D8%B5%D8%B1%D9%81%D8%8C-%D8%A7%D9%84%D9%85%D9%88%D8%A7%D8%B2%D9%86%D8%A9%D8%8C-%D9%88%D8%A5%D8%AD%D8%AA%D9%8A%D8%A7%D8%B7%D9%8A%D8%A7%D8%AA-%D8%A7%D9%84%D8%A8%D9%86%D9%83-%D8%A7%D9%84%D9%85%D8%B1%D9%83%D8%B2%D9%8A-%D9%81%D9%8A-%D8%A7%D9%84%D8%B9%D8%B1%D8%A7%D9%82.pdf
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Post by claud39 Mon Nov 15, 2021 10:48 am

It is better to organize budget borrowing from the central bank, take care of reserves and take them into consideration in financial, credit and monetary decisions. Conclusion: Suggest policies to address them. This analysis is not related to other studies, and it re-discusses known problems in Iraq that require the proposed policies to be subject to a clear analysis based on known, testable and critical foundations. The damage caused by the policies is not without a price, and it may be a downturn in the economy. Approval is not enough, but strict reckoning and facing the facts as they are. This treatment showed the relationship between the general budget deficit and the international reserves of the Central Bank, and the importance of basing the Central Bank’s financing of the budget deficit to controls known to all, including the level of reserves, the unified budget of the banking system, the financial position of the public sector, and hedging to keep inflation low. The study proved that the real exchange rate of the Iraqi currency was high compared to other countries of the world, and it is wrong to promote the value of the Iraqi dinar, but rather to ensure the stability of the exchange rate. It is not possible to advance the economy when it remains within the monetary-financial circle of thinking and action, and the coordination measures between the central bank and public finance are incapable of facing the negative consequences of postponing the start of diversifying exports into manufacturing.


doi.org




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Post by RamblerNash Mon Nov 15, 2021 10:58 pm

More articles that don't support your position of a "RV" Claud?

Let's add those to the dozens and dozens you have posted before...

https://www.dinardaily.net/t94913-opinion-on-the-subject-of-dinars
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Post by Purpleskyz Mon Nov 15, 2021 11:07 pm

Totally Frustrated and Sad  This-is-my-vicious-guard-dog-watch-out-he-might-try-to-lick-you-to-death



https://youtu.be/9sLR0vgpeWI

Totally Frustrated and Sad  Elke-Vogelsang_Guard-dog-on-duty-32bf31964ccc484a85753b413ab88825

ayestu Totally Frustrated and Sad  3508649203 Totally Frustrated and Sad  3508649203 Totally Frustrated and Sad  3508649203

To the gentleman that posted this thread...


As you can see this is still a hot button topic to many.

You mentioned that you lost faith in this so called investment, so it seems that you are not here to be convinced that it is real or just another fraud. So I will spare you as I am certain you will find as much opinion as you can handle in the many articles here.

When I found myself desperate for some cash, after I was let go from my long term employment, I sold back most of my currency but I did keep a small amount of Dinar just in case. The RV actually did change my life but not in the monetary aspect as I had hoped when I first heard about it.  I think most of us that have been a part of this site since it's inception have grown together and forged friendships that mean much to so many of us and well, is priceless.

To me I think it is sad that so many have their hopes and dreams wrapped up in what to many is just hopium and is essentially a pipe dream that will never come to fruition.


Feel free to reach out anytime you want some conversation or just want to watch the fun!


I wish you the very best going forward.

Debra

*****************
Out Of Mind
www.oom2.com
Totally Frustrated and Sad  2245507099Totally Frustrated and Sad  2245507099
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Post by claud39 Tue Nov 16, 2021 10:27 am

This will be my last opinion, and I find it distressing when we discuss with you it is immediately either: rediculating people who may not think like you !!

To respond to your comment that I am transcribing to you !!!

 You mentioned that you have lost faith in this so-called investment, so it looks like you are not here to be convinced that this is a real fraud or just another fraud. So I'll spare you because I'm sure you'll find as many opinions as you can handle in the many articles here.

I never mentioned that I lost confidence in this so-called investment, on the contrary !!
You say it yourself is an investment !!

I expected no change overnight, especially when you are in control of the UN !!

So I follow the news, and I do several searches just for me, and for fun !!

I was sharing news on your forum and at the beginning it was for the pleasure of putting the reality of the country, and damn that I made a big mistake to share news of the day from November 2018 until this summer !!!

 I myself did not put all my money into that, I did not put my pension fund into that, and I bought dinars without breaking the bank, so I do not lose anything in my case !!

To answer for the fraud, I do not believe in any way that it is a fraud by the end of the year, Iraq will be completely out of chapter 7 and all traces will be cleaned up in the Iraq file by doing the lastly compensation with Kuwait !!

Well I will continue my research, seeing that your research is very minimal, and even much behind in the news, and I have never trusted your site to have to make my own opinion !!

So good day everyone !!



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Post by RamblerNash Tue Nov 16, 2021 10:12 pm

@claud39 wrote:This will be my last opinion, and I find it distressing when we discuss with you it is immediately either: rediculating people who may not think like you !!

Oh? Would that be like calling me a cabbagehead and a dog like you have?

To respond to your comment that I am transcribing to you !!!

 You mentioned that you have lost faith in this so-called investment, so it looks like you are not here to be convinced that this is a real fraud or just another fraud. So I'll spare you because I'm sure you'll find as many opinions as you can handle in the many articles here.

I never mentioned that I lost confidence in this so-called investment, on the contrary !!
You say it yourself is an investment !!

I expected no change overnight, especially when you are in control of the UN !!

Oh? But you have expected it every beginning of each year. First starting with the rates at the UN rates you plastered all over the forum:

https://www.dinardaily.net/t78900-welcome-to-iraq-a-leap-forward

https://www.dinardaily.net/t87340-united-nations-treasury-the-united-nations-operational-rates-of-exchange

https://www.dinardaily.net/t81058-wow-governor-of-the-central-bank-sponsors-the-first-iraqi-conference-of-companies-to-mediate-the-sale-and-purchase-of-foreign-currencies

Now, it's the repayment to Kuwait...


So I follow the news, and I do several searches just for me, and for fun !!

I was sharing news on your forum and at the beginning it was for the pleasure of putting the reality of the country, and damn that I made a big mistake to share news of the day from November 2018 until this summer !!!

 I myself did not put all my money into that, I did not put my pension fund into that, and I bought dinars without breaking the bank, so I do not lose anything in my case !!

To answer for the fraud, I do not believe in any way that it is a fraud by the end of the year, Iraq will be completely out of chapter 7 and all traces will be cleaned up in the Iraq file by doing the lastly compensation with Kuwait !!

So...When that happens, will you concede that all of your bogus research has been meaningless to some sort of magical "RV"?


Well I will continue my research, seeing that your research is very minimal, and even much behind in the news, and I have never trusted your site to have to make my own opinion !!

So good day everyone !!



Claud (Moose)




You have been dissing the forum and some of it's members for quite awhile now. What's your point? Everyone can easily see that you can have a tantrum when your unable to have a discussion and to get your way.

The question I asked awhile back still has gone unanswered..."What's the basis that formed your opinion".


If your looking for what's going to happen with Iraq and the exchange rate, the group at DinarDaily is at the forefront.

It was predicted that there might be a devaluation or no change at based on the economics of Iraq and BAMM! It happened and it's all on record!


Since you have boasted that you have joined a private group that does research on Iraq, hopefully everyone there isn't blowing smoke up everyone's arse, but it sure seems that way.

-Nash (PurpleSkyz "Guard Dog"...according to Claud!)

Wolf...Wolf!
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Post by claud39 Wed Nov 17, 2021 8:21 pm

Instead of trying to make your specialist who knows everything, I send you this news !!

You must be able to read between the lines on the situation what is happening in Iraq !!

Finished the discussion as my wife has just mentioned to me now, really a waste of time with you !!!

Claud (Moose)

[size=36][rtl]Financial space for sovereign resources[/rtl][/size]


Wednesday 17 November 2021




Walid Khaled Al-Zaidi



Those in charge of the local economic affairs are looking forward to opportunities for economic growth that opens several doors for promising development, especially in light of the growing imports of Iraqi oil exported abroad with the almost stable increase in global oil market prices. From the sums of oil sold, this is on the one hand, and on the other hand, the positive situation resulting from the imminent end of the repayments of the remaining amounts of Kuwait’s compensation amounts owed by Iraq, which amounted to (52.4 billion dollars) to individuals, companies, governmental organizations and others, for the losses of the invasion of Kuwait approved by a UN committee, cannot be ignored. To install compensation, it was formed in 1991 and Baghdad has been obligated to pay it since 1996, which Iraq paid its bill, which burdened the reality of the Iraqi economy, and added financial burdens to the total economic problems and crises, which were negatively reflected on the elements of plans and programs for building the economy. 
the National.


The growing oil revenues during the current period and the payment of the compensation list for Kuwait can be properly invested, which would restore the stability and progress of development, especially the reform and modernization of economic frameworks and benefit from innovations and modern technical applications towards economic reforms, especially in the issue of transformation and transition from an economy controlled by the state To a free economy in which the private sector takes a greater role in increasing growth and encouraging investment.


But this is supposed to have several forms, including increasing the allocations concerned with encouraging entrepreneurship and financing small projects, as well as diversifying sources of financing, through developing and strengthening the role of other economic sectors such as industry, agriculture and tourism, and securing the ingredients for increasing non-oil exports in preparation for finding other supportive elements for a diversified economy. and balanced that would satisfy the local market needs of products and services together, and open the way to direct the Iraqi economy towards export and then find an ideal balance between the volume of needs and services imported from outside the country, and what can be exported abroad.


A number of economists in Iraq recommended the importance of diverting new financial flows into the interest of the national economy, achieving financial leeway in Iraq’s sovereign resources, contributing to enhancing the country’s financial sustainability, and maintaining the path of the funds’ transformation into savings that flow into the growing economy cycle, especially the trend towards project financing. Income-generating investment and a positive cumulative development process that leads to boosting GDP growth at accelerated rates, and stopping the state of financial waste that has disrupted growth opportunities and all constituted great costs and burdens during the past decades, after a lot of money went randomly outside the accounts of the national economic cycle.


https://alsabaah.iq/58180/%D9%81%D8%B3%D8%AD%D8%A9-%D9%85%D8%A7%D9%84%D9%8A-%D8%A9-%D9%84%D9%84%D9%85%D9%88%D8%A7%D8%B1%D8%AF-%D8%A7%D9%84%D8%B3%D9%8A%D8%A7%D8%AF%D9%8A-%D8%A9


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Post by RamblerNash Wed Nov 17, 2021 9:48 pm

@claud39 wrote:You must be able to read between the lines on the situation what is happening in Iraq !!
Read between the lines???

Is it printed in special ink that only one with "RV" goggles can read?

Is it only something that, like the Gurus, twist around into meaning "That's the 'RV'"?

Is it Guru economics which have been proven time and time again to be wrong?


Is that what your research has been...What's been read between the lines?

Is that what your private research group does...Read between the lines?

Is that what forms the basis of your opinion...What's been read between the lines?
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Post by RamblerNash Wed Nov 17, 2021 9:54 pm

Claud,

Can you, or your private group, "Read between the lines" and tell us what this really means?


~~~~~~~~~~



The Central Bank of NINA: The change in the price of the dollar has nothing to do with the financial crisis, and the rise in oil prices will not fill the budget deficit


Totally Frustrated and Sad  939655-151e9690-13db-4d3e-8acd-44d973df4d69
Wednesday 17 November 2021 18:06
 
Baghdad / NINA / - The Central Bank of Iraq resolved the controversy over the return of the dollar exchange rate to its previous position simultaneously.

The Deputy Governor of the Bank, Ihsan Shamran Al-Yasiri, stated, in a statement to the National Iraqi News Agency ( NINA ), that “the change in the dollar exchange rate has been studied by several specialized technical, financial and executive bodies,” noting that “the exchange rate was modified only based on extensive studies between the Ministry of Finance, the executive authority and the monetary authority, which is the central bank, in agreement with important international institutions to clarify the fair price of the dollar.”

He added, "We reached this price of 1450 dinars against the dollar, to which the central bank commission and the bank's commission are added to the public, which means that the price of the financial policy is 1450 dinars against the dollar, the price of the central bank is 1460 and the price of banks is 1470 dinars to the public."

On the repercussions of changing the exchange rate on the financial crisis, the Deputy Governor of the Central Bank stressed that “the financial crisis has nothing to do with changing the exchange rate, and that solving it does not mean a return to reducing the exchange rate of the dollar against the dinar, because the exchange rate is a monetary financial instrument that has nothing to do with the immediate problem.” Noting that "there has been a delay since 2010 that was supposed to amend the dollar exchange rate, and now it has been modified, as we hope for the return of the activity of economic institutions in light of the current exchange rate."

And regarding the rise in international oil prices and the surplus from the general budget, Al-Yasiri explained that “the surplus from the improvement in international oil prices will help reduce the budget deficit, but I do not think that the rise in oil prices by the end of this year can reach to bridge the deficit,” noting that “part of the The public budget deficit can be financed."

Al-Yasiri pointed out, “There were proposals to use oil price differences in financing projects, governorates, and others, but the opinion of the government, the previous parliament, and the Ministry of Finance was to fill the deficit first rather than expand spending.”/ End 5

https://ninanews.com/Website/News/Details?Key=939655
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Post by RamblerNash Tue Nov 23, 2021 9:35 pm

Iraq's U.S. Treasury Bond holdings lose nearly one billion dollars

Totally Frustrated and Sad  1636376131205
2021-11-23 01:50

Shafaq News/ Iraq has shrugged 5.18% of its U.S. Treasury Bond holdings, settling at $17.954 billion in September 2021, nearly one billion below June's $18.934 billion. 

According to the Federal Reserve and U.S. Department of the Treasury, Iraq's holdings are $8.578 billion in long-term securities and $9.937 billion in short-term securities. These securities account for 6.7% of Arab countries' total and 0.2% of the Global holdings. 

Saudi Arabia keeps the top holdings among Arabs with $124.3 billion, followed by the United Arab Emirates and Kuwait with $58 and $46.3 billion. Iraq ranked fourth with $17.954. Oman and Morocco's holdings boosted $5.4 and $3.8 billion each. 

Japan and Mainland China hold the greatest portions. Japan held 1.299 trillion U.S. dollars in U.S. securities. China held 1.049 trillion U.S. dollars worth.

https://shafaq.com/en/Economy/Iraq-s-U-S-Treasury-Bond-holdings-lose-nearly-one-billion-dollars



https://www.dinardaily.net/t102514-iraq-s-u-s-treasury-bond-holdings-lose-nearly-one-billion-dollars
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Post by claud39 Wed Nov 24, 2021 8:15 pm

@RamblerNash wrote:Iraq's U.S. Treasury Bond holdings lose nearly one billion dollars

Totally Frustrated and Sad  1636376131205
2021-11-23 01:50

Shafaq News/ Iraq has shrugged 5.18% of its U.S. Treasury Bond holdings, settling at $17.954 billion in September 2021, nearly one billion below June's $18.934 billion. 

According to the Federal Reserve and U.S. Department of the Treasury, Iraq's holdings are $8.578 billion in long-term securities and $9.937 billion in short-term securities. These securities account for 6.7% of Arab countries' total and 0.2% of the Global holdings. 

Saudi Arabia keeps the top holdings among Arabs with $124.3 billion, followed by the United Arab Emirates and Kuwait with $58 and $46.3 billion. Iraq ranked fourth with $17.954. Oman and Morocco's holdings boosted $5.4 and $3.8 billion each. 

Japan and Mainland China hold the greatest portions. Japan held 1.299 trillion U.S. dollars in U.S. securities. China held 1.049 trillion U.S. dollars worth.

https://shafaq.com/en/Economy/Iraq-s-U-S-Treasury-Bond-holdings-lose-nearly-one-billion-dollars



https://www.dinardaily.net/t102514-iraq-s-u-s-treasury-bond-holdings-lose-nearly-one-billion-dollars

Why am I answering you, I wonder, be your guru on your side, and I will follow the news of the country, and focus on the news of the country, not on the gurus, my friend !!

Claud (Moose)


statment

Wednesday 24 November 2021


[url=http://www.mof.gov.iq//Lists/Banner/Attachments/1017/%D8%B5%D9%88%D8%B1%D8%A9 %D9%81%D9%8A%D8%B3.jpg][/url]



In the past few weeks , there have been statements among senior political figures regarding the appropriate exchange rate.

The Ministry of Finance has addressed this issue several times and in a number of detailed presentations regarding the strategy  and policy behind the exchange rate adjustment.

 We would like to reiterate our position and hope that by presenting our policy in a clear and convincing manner, the next government will have the correct background information to react to this matter.Note that the international community has supported the exchange rate adjustment.

 Where the International Monetary Fund, the World Bank and all industrialized countries supported the move publicly and in the documents and reports published by them

 . Why was the exchange rate devaluation in December 2020 necessary?

 When oil revenues collapsed last year, the Iraqi government was facing enormous funding pressures as it struggled to meet its core internal and external obligations.

The central bank's foreign exchange reserves were on a fast-track decline, and in December 2020, they were expected to run out within a yearIraq's teetering on the brink of a full-blown crisis was a symptom of prolonged weakness in the face of low oil pricesThe government's efforts to defer all non-priority spending and focus on timely payment of salaries, pensions, and social benefits have not been sufficient. Closing the very large fiscal deficit  without devaluing the currency would have required deep and painful cuts in social expenditures and the layoffs of thousands of employees. The devaluation was necessary to allow more gradual fiscal adjustment and thus avoid major disruptions to key public servicesBy encouraging domestic consumption to move away from imports, the devaluation of the dinar also helped protect the CBI's foreign exchange reserves and gave Iraqi producers an opportunity to create jobs and income through better competition in the local market..

Do favorable oil prices now require an increase in the value of the dinar?

Although the devaluation of the currency last year and the recovery of oil prices have helped improve Iraq's financial situation, it is important to bear in mind that the country is still  very weak .

Existing surpluses could turn into deficits as oil prices return to normal in the medium term. Another downturn in the oil market could easily bring the country back to the brink of crisisFor the Iraqi economy to regain full strength and be sustainable, economic policies must be geared towards improving resilience to oil price fluctuations by building fiscal buffers and diversifying the economy. Revaluation of the dinar will have the opposite effect. There are good reasons for the scarcity of revaluation of fixed exchange ratesFor example, in 2005, China revalued its currency in response to  intense pressure from the United States, which threatened to impose tariffs on imports.

What are the main consequences of revaluation, and will it help the poor?

 The revaluation will lead to a devaluation of the dinar in oil revenues and  thus eliminate a potentially large part of the budget resources, which are employed in reconstruction, health, education, social transfers  and other priority areas. It will severely weaken the government's ability to meet current and future challengesIncreased demand for foreign currencies  can destabilize the currency market and  lead to widening margins of supply and demand

 Importers are the ones who benefit most from the re-evaluation. Experience from other countries indicates that after revaluation, only a small portion of their expanded profit margins are passed on to consumers and they capture the bulk of it themselves.

 This is because the commercial objective of lowering prices is not to benefit consumers but to drive out competition, especially local producers. If domestic producers are already under financial pressure, even a small price cut will be enough to put them out of business

 . So  the benefits to consumers are likely to be minimal, and the main victims of reassessment will be local entrepreneurs, farmers and private sector workers. Pushing private sector development and building a domestic production base will become more difficult when imports become cheaperFor the same reason,  the poor and weak groups will feel little benefit, if any at all. Most countries have long recognized that the most effective tool for helping the poor is direct cash assistance to those who need it most. The 2022 budget will provide an opportunity to strengthen the social protection network in Iraq

 Now that the government has the means to do so, trying to help the poor by raising the value of the dinar would be like throwing cash bills out of a helicopter in the hope that they land on the doorstep of their intended beneficiaries.While the exchange rate was revised nearly a year ago, many irresponsible commentators have linked it to the increased levels of prices over the past year. this is not true .  Like the rest of the world, Iraq is affected by the collapse of global supply chains due to the COVID-19 pandemic

Shipping and transportation costs increased significantly, foodstuffs and edible oils increased significantly, as did the costs of building materials and many manufactured goods, including cars and trucks. The consensus view among economists is that supply chains will be re-established in the near future and that this will have a dampening effect on prices.The Ministry of Finance believes that the positive effects of the currency adjustment are starting to appear. This is reflected in the increasing demands for industrial licenses in Iraq, to ​​take advantage  of the most competitive exchange rate. Many importers and former traders look at the local market differently now, with the aim of increasing the level of their productive investment. This will translate into bigger and better job opportunities for our people

 Totally Frustrated and Sad  199


 http://www.mof.gov.iq/Pages/MOFBannerHeadlineDetail.aspx?BannerNewsID=1017

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Post by RamblerNash Wed Nov 24, 2021 9:54 pm

The Governor of the Central Bank of Iraq receives Baroness Emma Nicholson

Totally Frustrated and Sad  News-16377573918918
November 24, 2021

The Governor of the Central Bank of Iraq receives Baroness Emma Nicholson

His Excellency the Governor of the Central Bank of Iraq, Professor (Mustafa Ghali Makheeb), received His Excellency Baroness (Emma Nicholson) and the 

meeting discussed ways to support the Iraqi banking sector, where Baroness Nicholson invited His Excellency and the banks to participate in a specialized conference in Britain. 

Her Excellency also praised the new building of the Central Bank and the aesthetic and architectural value that it will add to Baghdad. 

For his part, the Governor reviewed part of the Central Bank's efforts to reform the banking sector and the bank's roles in launching a number of initiatives to support the Iraqi economy, stimulate the real sector and employ the unemployed. 

It is noteworthy that Baroness Nicholson has been interested in the Iraqi issue since the nineties of the last century. She founded a charitable organization called (Ammar) to help children affected by the wars in Iraq. 

In 2008, she founded a group called the 

Iraqi British Business Council

It aims to bring together institutions, businessmen and investors for the benefit of Iraq. 

The center includes a large number of international commercial institutions. 
 
 
Central Bank of Iraq 
Wednesday 11/24/2021

https://cbi.iq/news/view/1876



~~~~~~~~~~





President of the Republic: Iraq looks forward to international support to strengthen national economic reform plans and support investment and the private sector

Totally Frustrated and Sad  940971-7dca8cec-e8cb-4fda-81e7-b26f8a4bb745
Wednesday 24 November 2021 17:55
 
Baghdad / NINA /- The President of the Republic, Barham Salih, discussed today, Wednesday, with the President of the Iraqi-British Business Council, Baroness Emma Nicholson, the joint Iraqi-British relations and their strengthening in various fields, especially in the economic and commercial fields and encouraging investment opportunities in Iraq, and the “Together We Build Iraq” conference. Which was organized by the Iraqi-British Business Council yesterday, with governmental participation in addition to companies and businessmen from both sides. 

President Barham Salih stressed that Iraq looks forward to the support of friends in the international community and cooperation in order to strengthen its economy, carry out the necessary reforms in the financial and economic fields, and support investment and the private sector through existing national reform plans, economic interdependence in the region, and easing political tensions. / End 8

https://ninanews.com/Website/News/Details?key=940971
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Post by claud39 Thu Nov 25, 2021 10:41 am

IBBC organises an average of 3 events a month which are mostly for Members only. One event every six weeks is held in Iraq:

  • 1 major conference in London typically held at The Mansion House.

  • 1 major conference in Dubai typically held at the Adress Hotel Dubai Marina.

  • An annual retreat is held at Cumberland Lodge, The Great Park, Windsor. Expert speakers from Governments,  international Institutions, academia, think tanks and major news outlets join members to discuss the present situation Iraq and the countries future prospect. A separate discussion on higher education in Iraq concludes the seminar.

  • Networking dinners and receptions are held every month in the UK and Iraq. Past venues included the British Parliament, Reform Club, Cavalry and Guards Club, the Foreign and Commonwealth Office, the Babylon Hotel, the Alwiya Club, the Hunting Club, the British Embassy in Baghdad, the Al Burhan Centre, the Rotana Hotel in Erbil, Erbil Chamber of Commerce, and the Al Majal Business Centre in Basrah.

  • Occasional seminars and study groups on subjects of high value  – such as the fight against corruption and the impact of the Bribery Act.

  • Regular IBBC visits are arranged, varying in location between Baghdad, Basrah and Erbil, but also Najaf, Karbala, Ramadi, Babil Sulemania and Dohuk.

  • The IBBC attends and supports events organised by member companies including conferences.

  • The IBBC also frequently receives and hosts high level Iraqi delegations in London including senior ministers and officials.

  • In addition the IBBC regularly meets and is involved in round table discussions with UK Government ministries and bodies including the Foreign, Commonwealth and Development Office, DIT, UK Border Agency and Export Credit Finance.

  • We regular partner on events with entities such as Chatham House, RUSI, IISS and the World Bank in Iraq.

  • We have a presence at the annual conference of whatever political party is in power in the UK and are part of the Industries Forum and the British Chambers of Commerce network.


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Post by claud39 Thu Nov 25, 2021 10:44 am

Look I will update you !!

Claud (Moose)



[size=38]IRAQ SUBMITS A PROPOSAL TO COMPETE WITH THE WORLD ECONOMY[/size]




Totally Frustrated and Sad  FB_IMG_1620501164013-960x640






Thursday, 25 November 2021 2:02 PM

Baghdad / National News Center
Today, Thursday, the Ministry of Commerce announced that Iraq has submitted a proposal to form an economic bloc of three countries, indicating that the goal is to compete with the economies of the world.
A spokesman for the Ministry of Commerce, Muhammad Hanoun, said in a statement to the official agency, followed by the “National News Center”, that “Iraq raised during the Economic Forum for Investment and Contracting in Turkey the importance of forming an economic bloc from the regional countries (Iraq, Turkey and Iran), indicating that” the aim of forming the bloc As an economic competitor that competes with the economies of the world because of the economic effects that these countries have.”
He explained, "Iraq presented its vision of forming an economic bloc to compete with economic developments and confront other blocs," noting that "the region needs an economic bloc that possesses wealth, money and labor to compete with the world's economies through an economic bloc capable of confronting economic blocs that already exist."
He added, "Iraq, through the Ministry of Trade, put forward an idea in Turkey to form an economic bloc," noting that "it will be presented in the form of a proposal through the Council of Ministers or the Ministry of Foreign Affairs and our commercial attaches, and communication will be made with countries in order to exchange ideas, information and how to form the bloc. What are the qualifications for the ability to face problems?
Hannoun added that “the Ministry of Commerce seeks for the economy to lead the policy, and therefore the economy today is the engine of the world’s economies, explaining that” the first step began in Turkey and was an Iraqi message that the economy must play a key role in political engines and a protection tool. The region, through compatibility with other blocs, needs resources and wealth in the region.”
He stated that "Iraq possesses great and enormous wealth that allows it to be a major economic player," pointing out that "there are problems that have had a dimension of economic backwardness and the lack of a clear economic vision. First, towards strengthening economic relations, and then towards the world.”
Hanoun stressed, "the need for Iraq to return to an important economic player, and all indicators allow it to be able to compete and enter into one of the important axes that run the wheel of the economy in the world," noting that "the Iraqi delegation in Turkey stressed the need for international companies to enter Iraq to invest to build Factories, importing machines and equipment, relying on the national product, self-capacity, and rehabilitating banks, and this was discussed in Turkey to benefit from the Turkish expertise.”
He explained, "Iraq needs well-thought-out decisions that have the ability to change through an economic policy that allows it to benefit from its experiences and the competencies of its children."


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Post by claud39 Thu Nov 25, 2021 10:47 am

[size=30]Masrour Barzani: Kurdistan is in an advanced stage in terms of security and economy..and a gateway to all of Iraq[/size]
Kurdistan is in an advanced stage in terms of security and economy..and a gateway to all of Iraq
 
 5 hours
 
 
Erbil (Kurdistan 24) - Kurdistan Regional Government Prime Minister Masrour Barzani said on Sunday that the region is in an advanced stage in terms of security and economics.
Masrour Barzani said in response to a question by the delegate of Kurdistan 24, on the sidelines of his participation in the "Manama Dialogue" summit, "We always say that the Kurdistan Region can be a gateway to goodness and blessing that benefits all of Iraq."
He added, "The region, in terms of security and economics, is in a more advanced stage, and we hope that this step will be a catalyst for the rest of Iraq's regions to advance the economy in the country."
Regarding the Manama summit, Masrour Barzani stressed that "the region's participation was strong, as many meetings and meetings were held."
 
Masrour Barzani indicated that the security issue is no longer an issue of a country or region alone, but rather requires international cooperation and coordination.
The President of the Kurdistan Regional Government stated that the US Secretary of Defense promised to continue cooperation in the fight against ISIS, praising the role of the Peshmerga and security institutions in the Kurdistan Region.
"All parties still feel that ISIS is a real threat," he added.
With regard to the role of the Kurdistan Region in forming the new Iraqi government, the head of the regional government said, "Kurdistan is always open for good and benefit for Iraq and for all Iraqis."
He explained that Kurdistan is in a more advanced stage in terms of security, while expressing his hope that these steps will help other regions of Iraq to restore security and economic recovery.
 
https://www.youtube.com/watch?v=p7TyWKQ8YdM
 
https://www.kurdistan24.net/ar/story/26546-%D9%85%D8%B3%D8%B1%D9%88%D8%B1-%D8%A8%D8%A7%D8%B1%D8%B2%D8%A7%D9%86%D9%8A:-%D9%83%D9%88%D8%B1%D8%AF%D8%B3%D8%AA%D8%A7%D9%86-%D9%81%D9%8A-%D9%85%D8%B1%D8%AD%D9%84%D8%A9-%D9%85%D8%AA%D8%B7%D9%88%D8%B1%D8%A9-%D8%A3%D9%85%D9%86%D9%8A%D8%A7%D9%8B-%D9%88%D8%A7%D9%82%D8%AA%D8%B5%D8%A7%D8%AF%D9%8A%D8%A7%D9%8B..-%D9%88%D8%A8%D9%88%D8%A7%D8%A8%D8%A9-%D9%84%D9%84%D8%B9%D8%B1%D8%A7%D9%82-%D9%83%D9%84%D9%87


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Post by claud39 Thu Nov 25, 2021 10:51 am

[size=38]Conclusion of the training course on trade in services for acceding governments[/size]
The second training course on trade in services for governments acceding to the WTO was held in virtual form from March 15 to 26, 2021. Seventy-six representatives from 15 governments participated in this activity.
 
 
The course was delivered jointly by the Accessions Division and the Trade in Services and Investment Division of the WTO, in collaboration with the International Trade Center (ITC), with logistical support from the Training Institute and technical cooperation (ITTC) of the WTO. The course was delivered in English with Russian interpretation provided by ITC as part of the EU-funded project “Facilitating Uzbekistan's WTO Accession Process”.
In her opening remarks, Xiaolin Chai, Director of the Trade in Services and Investment Division, noted that services are the largest and most dynamic component of most economies in the world. The growing economic importance of trade in services is reflected in its weight in the accession negotiations, which cover many services sectors and sub-sectors and cross-cutting policy issues, such as investment, labor and immigration.  
Maika Oshikawa, Director of the Accessions Division, highlighted the complex nature of negotiations on services in accessions, which require a lot of cooperation, coordination and even internal negotiations between a wide range of ministries and agencies.
During the two-week course, participants improved their understanding of disciplines contained in the General Agreement on Trade in Services (GATS), including scheduling practices, as well as related commitments. services in WTO accessions. They received training on issues such as classification of services sectors, schedules of commitments, most-favored-nation (MFN) rule exemptions and domestic regulation in services. They also deepened their knowledge of specific service sectors, including business and professional services, telecommunications services, financial services, and postal and courier services.
In addition, participants had the opportunity to share their experiences with accessions negotiators in a roundtable. The first roundtable included former negotiators from four recently acceded members - Liberia, Kazakhstan, the Russian Federation and Yemen - who shared their views on the accession negotiations , in particular on bilateral negotiations on market access in services. The second roundtable included two negotiators from the European Union and the United States who shared Members' perspectives on the services market access negotiations.
The training course ended on March 26 with a closing session that preceded the launch of the new accessions web portal.
The first edition of this training course took place in December 2016 at the WTO headquarters in Geneva. The course was attended by 27 representatives from 14 governments wishing to join the WTO.
The program is available here .
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List of participants

Mrs Hind BENNASSI, Algeria
Mr. Abdallah GHRICI, Algeria
Mr. Souleyman ZEGHOUANE, Algeria
Ms. Wassila LAGGOUNE, Algeria
Mr. Bahruz BAKHSALIYEV, Azerbaijan
Ms. Kristie RUSSELL, Bahamas
Mr. Samuel CAMPBELL, Bahamas
Ms. Anita Farrah STYLES, Bahamas
Mr. Dmitri FOMCHENKO, Belarus
Ms. Yuliya HANAKOVA, Belarus
Ms. Anastasiya MAZULINA, Belarus
Ms. Pem ZAM, Bhutan
Ms. Sherab ZANGMO, Bhutan
Ms. Tashi WANGMO, Bhutan
Ms. Tshering DEM, Bhutan
M. Guido ROJER, Curaçao
Mr. Juan Antonio EBALE NCHAMA, Equatorial Guinea
Mr. Moises ALOGO EDU, Equatorial Guinea
Mr. Gerenew HAILE, Ethiopia
Mr. Lisanework Gorfu WUBACHEW, Ethiopia
Ms. Arwa Jawad AL-RIJBAYE, Iraq
Ms. Louloua Mustafa Qasim AL-SAEDI, Iraq
Mme Rasha Salih Mahdi AWAADE, Irak
M. Dheyaa Salim ALKHAFAJI, Iraq
Mr. Mohammed Hamid Nawaf AL-ANI, Iraq
Ms. Aleksandra MALISIC, Serbia
Ms Miljana MANDIC, Serbia
Mr. Sabino Tom AKONYDIT, South Sudan
Mr. Steven Doctor Matatia JORBEK, South Sudan
M. Kuot Madhor KUOT, Soudan du Sud
Mr. Mohammed Shaip Gibreel ABDELROOF, Sudan
Mr. Murtada ELIAS ABBAS MOHAMED, Sudan
M. Burai Osman Elsherif, Soudan
Ms. Amal Hassan Elnaiem, Sudan
M. Adil Abdalla Ali AHMED, Sudan
M. HASSAN IBRAHIM ELHASSAN AHMED, Soudan
Ms. Fatima IBRAHIM, Sudan
Ms. Manal Alzain Mohammed MUSAAD, Sudan
Mr. Taneo MORIYAMA, Timor Leste
M. Salvador Da Costa PEREIRA, East Timor
Ms. Davida Crescencia DE FATIMA MESQUITA, Timor Leste
M. Leonardo GUTERRES DE CARVALHO, East Timor
M. Domingos Lopes ANTUNES, East Timor
Mme Natalina Maria AMARAL DA COSTA, East Timor
M. Salustiano DOS SANTOS CARVALHO, East Timor
Mme Jorginha MARTINS, East Timor
M. Leonito SOARES DE JESUS, East Timor
Ms Maria MARTINS DA SILVA, Timor Leste
M. Decio RIBEIRO SARMENTO, East Timor
M. Cesar DIAS QUINTAS, East Timor
M. Florencio SANCHES, East Timor
M. Emanuel Antero GARCIA DA VEIGA, East Timor
M. Domingos Canossa CALDEIRA MESQUITA, East Timor
M. Francisco AMARAL GODINHO DE ARAUJO, East Timor
M. Fernando CARVALHO DE ARAUJO, East Timor
M. Dovletmyrat TORAYEV, Turkmenistan
Mr. Esemurat KANYAZOV, Uzbekistan
Mr. Shokhrukh AKHMEDOV, Uzbekistan
Ms. Lobar AZIMOVA, Uzbekistan
Ms. Nodira KURBANBAEVA, Uzbekistan
Ms. Lolita IRGASHEVA, Uzbekistan
Mr. Iskandar TURSUNOV, Uzbekistan
Mr. Feruzbek KURBONOV, Uzbekistan
Ms. Nargiza SAMANDAROVA, Uzbekistan
Mr. Shokhjakhon YUSUPOV, Uzbekistan
M. Shaxobjon FAYZULLAEV, Uzbekistan
Mr. Mukhammadiyor MATCHANOV, Uzbekistan
Mr. Anvar Mirzakhalilov, Uzbekistan
M. Sherzod AFA-MIRZAEV, Uzbekistan
Mr. Dilshod MUYDINOV, Uzbekistan
Mr. Batir ALLAEV, Uzbekistan
Mr. Arcady MATYASHIN, Uzbekistan
Ms. Nafisa SADULLAEVA, Uzbekistan
M. Islom ISMOILOV, Uzbekistan
Mr. Mukhammadkhon KATTAKHONOV, Uzbekistan
M. Alisher RUZIEV, Uzbekistan



Claud (Moose)
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Totally Frustrated and Sad  Empty An Iraqi delegation visits Geneva to discuss joining the World Trade Organization

Post by claud39 Thu Nov 25, 2021 11:14 am

NO !! THEY ARE NOT GOING TO SAY THAT THEY WANT TO RETURN TO OMC ???

WTO = trade, what ???

  Trade with other countries, but they can't do it according to you RamblerNash, they will have no value on their currencies to trade with other countries, especially with the United States, as trade in the world is done with the dollard !!

Well I have other things to do than update you, good day to the members of the forum, you just have to follow your favorite gurus is RamblerNash, I will continue to do my research, and share it with my private group, more interesting to discuss with them than with RamblerNash !!


Claud (Moose)


An Iraqi delegation visits Geneva to discuss joining the World Trade Organization

November 22, 2021 07:44 PM

Totally Frustrated and Sad  1024
 

Mubasher: The Iraqi Ministry of Trade revealed, today, Monday, an upcoming visit of its minister to Geneva to discuss Iraq’s accession to the World Trade Organization, while indicating that Iraq needs to pass laws and legislation to support its position internationally.
The official spokesman for the Ministry of Commerce, Muhammad Hanoun, told the Iraqi News Agency "INA", that the Ministry of Trade is mobilizing its efforts towards Iraq's accession to the World Trade Organization, and its minister and at the head of a government delegation will go to Geneva next week to reach an agreement with European trade ministers and European countries regarding accession. .
And he stressed, that Iraq is looking forward to ending the file of Iraq's accession to the World Trade Organization soon, pointing out that "the accession process is complex and contains great and many conditions." 
He pointed out that Iraq needs to pass laws and legislation on many issues, including the economy, customs, and other required details and controls.
He explained that the Ministry of Commerce has prepared an integrated file and we hope to discuss it with the European side with a view to joining the organization.


https://www.mubasher.info/news/3880853/%D9%88%D9%81%D8%AF-%D8%B9%D8%B1%D8%A7%D9%82%D9%8A-%D9%8A%D8%B2%D9%88%D8%B1-%D8%AC%D9%86%D9%8A%D9%81-%D9%84%D8%A8%D8%AD%D8%AB-%D8%A7%D9%84%D8%A7%D9%86%D8%B6%D9%85%D8%A7%D9%85-%D9%84%D9%85%D9%86%D8%B8%D9%85%D8%A9-%D8%A7%D9%84%D8%AA%D8%AC%D8%A7%D8%B1%D8%A9-%D8%A7%D9%84%D8%B9%D8%A7%D9%84%D9%85%D9%8A%D8%A9/
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Post by RamblerNash Thu Nov 25, 2021 11:41 am

@claud39 wrote:Look I will update you !!

Claud (Moose)



[size=38]IRAQ SUBMITS A PROPOSAL TO COMPETE WITH THE WORLD ECONOMY[/size]




Totally Frustrated and Sad  FB_IMG_1620501164013-960x640






Thursday, 25 November 2021 2:02 PM

Baghdad / National News Center
Today, Thursday, the Ministry of Commerce announced that Iraq has submitted a proposal to form an economic bloc of three countries, indicating that the goal is to compete with the economies of the world.
A spokesman for the Ministry of Commerce, Muhammad Hanoun, said in a statement to the official agency, followed by the “National News Center”, that “Iraq raised during the Economic Forum for Investment and Contracting in Turkey the importance of forming an economic bloc from the regional countries (Iraq, Turkey and Iran), indicating that” the aim of forming the bloc As an economic competitor that competes with the economies of the world because of the economic effects that these countries have.”
He explained, "Iraq presented its vision of forming an economic bloc to compete with economic developments and confront other blocs," noting that "the region needs an economic bloc that possesses wealth, money and labor to compete with the world's economies through an economic bloc capable of confronting economic blocs that already exist."
He added, "Iraq, through the Ministry of Trade, put forward an idea in Turkey to form an economic bloc," noting that "it will be presented in the form of a proposal through the Council of Ministers or the Ministry of Foreign Affairs and our commercial attaches, and communication will be made with countries in order to exchange ideas, information and how to form the bloc. What are the qualifications for the ability to face problems?
Hannoun added that “the Ministry of Commerce seeks for the economy to lead the policy, and therefore the economy today is the engine of the world’s economies, explaining that” the first step began in Turkey and was an Iraqi message that the economy must play a key role in political engines and a protection tool. The region, through compatibility with other blocs, needs resources and wealth in the region.”
He stated that "Iraq possesses great and enormous wealth that allows it to be a major economic player," pointing out that "there are problems that have had a dimension of economic backwardness and the lack of a clear economic vision. First, towards strengthening economic relations, and then towards the world.”
Hanoun stressed, "the need for Iraq to return to an important economic player, and all indicators allow it to be able to compete and enter into one of the important axes that run the wheel of the economy in the world," noting that "the Iraqi delegation in Turkey stressed the need for international companies to enter Iraq to invest to build Factories, importing machines and equipment, relying on the national product, self-capacity, and rehabilitating banks, and this was discussed in Turkey to benefit from the Turkish expertise.”
He explained, "Iraq needs well-thought-out decisions that have the ability to change through an economic policy that allows it to benefit from its experiences and the competencies of its children."


Turkish lira plunges 5% after Erdogan stokes firesale

Totally Frustrated and Sad  1637660418367
2021-11-23 02:02

Shafaq News/ Turkey's lira crashed 5% to near 12 to the dollar on Tuesday, its eleventh record low in as many days, after President Tayyip Erdogan defended recent sharp rate cuts and vowed to win his "economic war of independence" despite widespread criticism.

The lira weakened as far as 11.9990 versus the U.S. currency and was at 11.8200 at 0744 GMT. It has lost 38% of its value this year, including a 17% meltdown since the beginning of last week.

Erdogan has applied pressure on the central bank to pivot to an aggressive tightening cycle that aims, he says, to boost exports, investment, and jobs - even as inflation soars to near 20% and the currency depreciation accelerates, eating deeply into Turks' earnings. Former central bank deputy governor Semih Tumen, who was dismissed by Erdogan last month, called for an immediate return to policies that protect the lira's value.

"This irrational experiment which has no chance of success must be abandoned immediately and we must return to quality policies which protect the Turkish lira's value and the prosperity of the Turkish people," he said on Twitter. The lira is by far the worst performer in emerging markets this year due mostly to what analysts call reckless and premature monetary easing. Against the euro, the currency weakened to a fresh record low of 13.4035.

In the bond market, Turkey's 10-year benchmark yield rose above 21% for the first time since the start of 2019. As the lira plunged, the main share index jumped 1.5% due to suddenly cheap valuations.

https://shafaq.com/en/Economy/Turkish-lira-plunges-5-after-Erdogan-stokes-firesale


https://www.dinardaily.net/t102506-turkish-lira-plunges-5-after-erdogan-stokes-firesale
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Post by RamblerNash Thu Nov 25, 2021 11:43 am

@claud39 wrote:NO !! THEY ARE NOT GOING TO SAY THAT THEY WANT TO RETURN TO OMC ???

WTO = trade, what ???

  Trade with other countries, but they can't do it according to you RamblerNash, they will have no value on their currencies to trade with other countries, especially with the United States, as trade in the world is done with the dollard !!

Well I have other things to do than update you, good day to the members of the forum, you just have to follow your favorite gurus is RamblerNash, I will continue to do my research, and share it with my private group, more interesting to discuss with them than with RamblerNash !!


Claud (Moose)


An Iraqi delegation visits Geneva to discuss joining the World Trade Organization

November 22, 2021 07:44 PM

Totally Frustrated and Sad  1024
 

Mubasher: The Iraqi Ministry of Trade revealed, today, Monday, an upcoming visit of its minister to Geneva to discuss Iraq’s accession to the World Trade Organization, while indicating that Iraq needs to pass laws and legislation to support its position internationally.
The official spokesman for the Ministry of Commerce, Muhammad Hanoun, told the Iraqi News Agency "INA", that the Ministry of Trade is mobilizing its efforts towards Iraq's accession to the World Trade Organization, and its minister and at the head of a government delegation will go to Geneva next week to reach an agreement with European trade ministers and European countries regarding accession. .
And he stressed, that Iraq is looking forward to ending the file of Iraq's accession to the World Trade Organization soon, pointing out that "the accession process is complex and contains great and many conditions." 
He pointed out that Iraq needs to pass laws and legislation on many issues, including the economy, customs, and other required details and controls.
He explained that the Ministry of Commerce has prepared an integrated file and we hope to discuss it with the European side with a view to joining the organization.


https://www.mubasher.info/news/3880853/%D9%88%D9%81%D8%AF-%D8%B9%D8%B1%D8%A7%D9%82%D9%8A-%D9%8A%D8%B2%D9%88%D8%B1-%D8%AC%D9%86%D9%8A%D9%81-%D9%84%D8%A8%D8%AD%D8%AB-%D8%A7%D9%84%D8%A7%D9%86%D8%B6%D9%85%D8%A7%D9%85-%D9%84%D9%85%D9%86%D8%B8%D9%85%D8%A9-%D8%A7%D9%84%D8%AA%D8%AC%D8%A7%D8%B1%D8%A9-%D8%A7%D9%84%D8%B9%D8%A7%D9%84%D9%85%D9%8A%D8%A9/



@claud39 wrote:Trade with other countries, but they can't do it according to you RamblerNash, they will have no value on their currencies to trade with other countries, especially with the United States, as trade in the world is done with the dollard !!



You are twisting things to fit your narrative Claud! FIX YOUR TRANSLATOR!!

You are misunderstanding and making things up that I'm not even saying. What's your purpose for doing that?

Iraq is, and has been trading with other countries for decades!
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Post by claud39 Thu Nov 25, 2021 2:11 pm

Last intervention, if you are so sure that they trade with other countries, why they have to go up and follow the white paper according to the un on the banking system?

Why the importance of financial inclusion in the country?

Either to avoid fraud in the first place !!

Why join the WTO if it trades with each other?

Why the importance of the request of the UN to control customs?

Could it be that there are in the parallel market ??

At the places on the free market !!!

Why that the UN mentions that by the end of the year that they will no longer have any trace with Chapter 7 to Kuwait for the end of compensation on payments ???

Why the meeting now between the central bank of iraq and the central bank of turkey if they trade well with each other according to you?

But as you are still going to try to be right, then why do I continue to discuss with you, and ask yourself the question, why nobody participates in the debates on your forum?


Claud (Moose)



The Governor of the Central Bank of Iraq meets his Turkish counterpart




November 25, 2021





Totally Frustrated and Sad  News-163785914241955








The Governor of the Central Bank of Iraq, His Excellency Mr. Mustafa Ghaleb Mikhaif, met the Governor of the Central Bank of Turkey His Excellency Mr. Shihab Kavuoglu, in Istanbul, at the invitation of the Turkish side. The development of banking and financial relations between the two countries was discussed.  
The Governor said, during his meeting with his Turkish counterpart, that our visit aims to develop banking relations between the two countries, support the opening of branches of Iraqi banks in Turkey and open mutual accounts, in a way that contributes to the development of trade relations between the two countries on the basis of reciprocity.
His Excellency the Governor called his Turkish counterpart to provide facilities to Iraqi banks to facilitate the settlement of the trade balance between the two countries and the transfer of funds belonging to Iraqis residing in Turkey.
His Excellency the Governor of the Central Bank of Turkey praised the efforts made by the Central Bank of Iraq in developing the national economy, stressing that he is ready to open the doors of cooperation and facilitate banking operations between the two countries. 
 

 

 

Media Office 
November 25, 2021



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Post by RamblerNash Fri Nov 26, 2021 12:42 am

@claud39 wrote:Last intervention, if you are so sure that they trade with other countries, why they have to go up and follow the white paper according to the un on the banking system?

You have it backwards. Iraq has the white paper. The UN and other organizations endorse it.

Why the importance of financial inclusion in the country?

"financial inclusion" can take on different meanings. You will need to be more specific. One example would be the AMF...But that's not really an "in country" thing.

Either to avoid fraud in the first place !!

There are different kinds of fraud going on in Iraq. You will find it in the news and "they" say they are working to curb quite a bit of it.

Why join the WTO if it trades with each other?

They already belong to the WTO. They joined in 2004. Did you not read what I posted above in this thread?

Why the importance of the request of the UN to control customs?

Iran would be one example...


Could it be that there are in the parallel market ??

Congratulations Claud! You now know why they needed to devalue the Dinar.

https://www.elibrary.imf.org/view/journals/001/1990/114/article-A001-en.xml

I've been posting those "parallel market" rates within Iraq for years on an almost daily basis! Here's an example:

https://www.dinardaily.net/t102508-usd-iqd-exchange-rates-inched-up-in-baghdad

The CBI also tracks it:

https://cbi.iq/news/view/237 <--This link no longer works...

Here's another:

https://www.cbiraq.org/SeriesChart.aspx?TseriesID=390

Here is an archive I found from a couple of years ago:

https://web.archive.org/web/20190717222315/https://cbi.iq/static/uploads/up/file-156336262313593.xls


At the places on the free market !!!

Why that the UN mentions that by the end of the year that they will no longer have any trace with Chapter 7 to Kuwait for the end of compensation on payments ???

That's a milestone for Iraq. It really doesn't do much but remove some of the restrictions...Officially.

Why the meeting now between the central bank of iraq and the central bank of turkey if they trade well with each other according to you?

The CBI and foreign ministers have been meeting with every one. They are trying to encourage investing in Iraq. Have you not been reading the news articles on that over the years?



But as you are still going to try to be right, then why do I continue to discuss with you, and ask yourself the question, why nobody participates in the debates on your forum?

You can't have a debate on what's a fantasy. Most folks would rather have a discussion. Posting facts, the news, and making fun of the Gurus really isn't "debatable".

Look how upset you got when I, and others, asked you questions...




Claud (Moose)



The Governor of the Central Bank of Iraq meets his Turkish counterpart




November 25, 2021





Totally Frustrated and Sad  News-163785914241955








The Governor of the Central Bank of Iraq, His Excellency Mr. Mustafa Ghaleb Mikhaif, met the Governor of the Central Bank of Turkey His Excellency Mr. Shihab Kavuoglu, in Istanbul, at the invitation of the Turkish side. The development of banking and financial relations between the two countries was discussed.  
The Governor said, during his meeting with his Turkish counterpart, that our visit aims to develop banking relations between the two countries, support the opening of branches of Iraqi banks in Turkey and open mutual accounts, in a way that contributes to the development of trade relations between the two countries on the basis of reciprocity.
His Excellency the Governor called his Turkish counterpart to provide facilities to Iraqi banks to facilitate the settlement of the trade balance between the two countries and the transfer of funds belonging to Iraqis residing in Turkey.
His Excellency the Governor of the Central Bank of Turkey praised the efforts made by the Central Bank of Iraq in developing the national economy, stressing that he is ready to open the doors of cooperation and facilitate banking operations between the two countries. 
 

 

 

Media Office 
November 25, 2021


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Post by claud39 Fri Nov 26, 2021 10:32 am

Greetings guru !! I'm sending you this, and even if I'm chatting with you, it's wasting my time !!
Look at what I sent to my group, since you don't really do research, you start doing research when I challenge that's all !!


Don't forget that Iraq is part of the Arab Monetary Fund ||

Claud (Moose)


THE ARAB MONETARY FUND ORGANIZES THE SIXTH MEETING OF THE WORKING GROUP ON MODERN FINANCIAL TECHNOLOGIES IN THE ARAB COUNTRIES "FROM A DISTANCE"
 2021-11-25

On November 24-25, 2021
The people are discussing
Opportunities and challenges of applying artificial intelligence techniques in the financial sector 
Strategies for moving to open financing
Trends and justifications for issuing digital currencies and lessons from regional and international experiences 
Data privacy protection requirements in digital services
Frameworks to protect consumers of digital financial services
Recent trends in regulatory and supervisory techniques and their role in promoting innovation opportunities    
On Wednesday and Thursday, corresponding to November 24-25, 2021, the Arab Monetary Fund will organize the sixth periodic meeting of the Modern Financial Technologies Working Group in the Arab Countries "remotely". The meeting will be attended by representatives of Arab central banks and monetary institutions and officials concerned with modern financial technologies and payments at central banks and Arab monetary institutions, ministries of finance, capital market authorities, and Arab stock exchanges. In addition to representatives of international financial institutions, led by:
In the meeting, the group will discuss the areas of application of artificial intelligence techniques in the financial sector, and future challenges and opportunities. In this context, the group reviews the developments of the regulatory frameworks that govern the uses of artificial intelligence. In this regard, the group will listen to presentations from the Organization for Economic Cooperation and Development, the International Organization of Capital Market Authorities (ISCO), and the Institute of International Finance, in addition to reviewing the experiences of a number of Arab countries, and discussing the group’s working paper on the adoption of artificial intelligence and machine learning in the financial sector in Arab countries .
The group discussions will also address the latest developments in digital and stable currencies, in terms of reviewing recent trends, the reasons and challenges of issuing digital currencies and some of the leading regional and international experiences. The group will hear feedback from the Financial Stability Board and the Bank of England on cryptocurrencies. In this context, the group will also discuss a draft practical guide to activate the use of digital currencies in the Arab countries, which was prepared by the Arab Monetary Fund, based on a recent questionnaire distributed to Arab central banks.
On the other hand, the group's discussions touch on the main concepts of open banking operations, strategies for the transition to open financing, and regulatory and supervisory considerations in this regard, in order to enhance access to formal financial services and increase financial inclusion rates. In this context, a working paper prepared by the group will be discussed on the requirements for activating open financing, in addition to the vision document previously issued by the group on the subject in 2020. The discussions will also include the social responsibility of open financing service providers, and the challenges of data sharing in open financing operations .
The group will also discuss a working paper on regulatory and supervisory techniques, which covers recent trends and regional experiences, and the role of these technologies in encouraging innovation and supporting growth opportunities. The paper deals with the appropriate tools and mechanisms to be used by supervisory authorities to develop the application of these techniques. In this context, the group will hear a number of presentations from academic institutions.
In addition to the above, the topics of protecting consumers of digital financial services and protecting data privacy are of great interest to the group in this meeting, where recent developments and technologies in this field will be reviewed, in addition to discussing a working paper on the framework and experiences of customer data protection in the Arab countries. Finally, during the meeting, the group's work program for the first half of 2022 will be discussed, and preparations for the next meeting of the group during the month of May 2022 will be discussed. A list of priority issues and topics for 2022 will also be discussed.
On this occasion, His Excellency Dr. Abdul Rahman bin Abdullah Al-Hamidi, Director General and Chairman of the Board of Directors of the Arab Monetary Fund, praised the activities and meetings of the group, through what they contribute to the transfer of knowledge about laying the foundations for a stimulating environment for modern financial technologies in the Arab countries. His Excellency stressed that the development of the modern financial technology sector is one of the priorities of Arab central banks, due to its importance in advancing the capabilities of Arab economies to face the current challenges and support the recovery phase from the Corona pandemic, in addition to the role of financial technologies in supporting opportunities for financial inclusion, by accelerating the transition to digital financial services. . His Excellency stressed the importance of the indicative papers and guides that the group is working on, as a means of following up on the development of the modern financial technology industry in the Arab region, pointing to the importance of benefiting from them in developing the necessary policies to advance all aspects of the industry in the Arab region.

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Post by claud39 Fri Nov 26, 2021 11:05 am

A summary of the political tools of the Central Bank of Iraq ************************************* 

The Council Administration of the Central Bank of Iraq approved at the meeting held on the sixth and August 20, new regulation of minimum reserves and banking facilities Attached, this statement reviews the general features of the new regulations and explains the reasons for its adoption In order to strengthen the management of the monetary policy of the Central Bank of Iraq and in support of the new program which It was adopted by the Ministry of Finance during the issuance of securities. 

The Central Bank of Iraq will issue preliminary instructions to implement the terms of the new regulations, Changes have been made to the regulation and banking operations of the CBI to give it control It is better over the money supply and at the same time gives great confidence to banks in terms of choice and the conditions required to manage liquidity of their banks, and the stock markets should play On the other hand, the government plays an important positive role in the management of bank liquidity in accordance with the new regulations Banks should strengthen their financial position to manage their short-term liquidity needs . term (or what is more generally called in the market) where the banks ultimately resort to the Central Bank as a last resort. In order to clarify this, the Central Bank of Iraq will organize several meetings with banks in L ' near future to discuss the proposed regulations. 

The Ministry of Finance has changed the way it finances the deficit of its yields due to the restrictions The new legislation imposed on it when it borrows from the Central Bank of Iraq due to its desire to lead the development of a active market for government securities, in accordance with the requirements of the newly approved government debt law, all debt services will be paid in cash, and for this the value of government securities has been paid with interest and payable on the 1st July and October to its holders, as for the papers Public finances held by the Central Bank of Iraq will be handled in accordance with an agreement to be concluded between the Ministry of Finance and the Central Bank of Iraq to restructure the claims of the Central Bank of Iraq on the government, The Ministry of Finance has already started issuing new securities to finance those owed to it, and they have been sold New securities after their issuance on the secondary market .

 The Central Bank of Iraq has reformulated its banking relationship with banks to develop a market It relies on new monetary policy tools and in order to facilitate the development of the new stock market The Ministry of Finance is no longer required by banks to hold securities equivalent to 10% of total deposits (now included in the list of minimum reserves). The Ministry of Finance has already started issuing new securities to finance those owed to it, and they have been sold New Securities after their issuance on the secondary market. 

The Central Bank of Iraq has reformulated its banking relationship with banks to develop a market It relies on new monetary policy tools and in order to facilitate the development of the new stock market The Ministry of Finance is no longer required by banks to hold securities equivalent to 10% of total deposits (now included in the list of minimum reserves). The Ministry of Finance has already started issuing new securities to finance those owed to it, and they have been sold New Securities after their issuance on the secondary market. The Central Bank of Iraq has reformulated its banking relationship with banks to develop a market It relies on new monetary policy tools and in order to facilitate the development of the new stock market The Ministry of Finance is no longer required by banks to hold securities equivalent to 10% of total deposits (now included in the list of minimum reserves).

The Central Bank of Iraq will no longer process the purchase or sale of securities as desired in the future. In addition, the banks have closed the exposure and advance facilities granted by the Bank. The Central Bank of Iraq replaced them with new existing loan and deposit facilities, which it had approved.The board of directors of the bank is new, and the regulation of statutory reserves will come into force in one month In November, the Central Bank of Iraq can buy or sell the securities of the Ministry of Finance Financial statements of banks on a competitive basis for the needs and objectives of monetary policy (called open market operations) and the detail of all these evolutions linked to the tools The new monetary policy: monetary policy tools:

 The formulation prepared by the Central Bank of Iraq for monetary policy instruments serves to promote the ability of banks to manage short-term liquidity, and the Central Bank of Iraq directs the required monetary policy (which can be assessed in terms of various intermediate variables, including:

 yield curve, exchange rate and growth rate of money supply) with respect to the capacity of liquidity management Monetary policy tools adopted by the central bank must work with Cash and other securities markets to create an efficient payment system that gives banks the confidence to meet their obligations Pay it at a reasonable cost. 

Of course, the costliest thing to provide liquidity is to Iraq buys or sells the dollar in or at the market in light of its political objectives. 

2 - The list of minimum reserves which banks depend on holding in accordance with Customer deposits, that is to say at different levels of deposits with the Central Bank of Iraq, cash In the treasuries and securities of the ministry finances.

 3- Exposure facilities for banks that have reserve bank account balances The Central Bank of Iraq, but it is not enough to settle your obligations at the end of the banking day.


4- Discount window for bills of exchange or similar banknotes with shorter deadlines From 90 days and its endorsement with at least two signatures (currently taxed at 11% for first class financial papers). 

5- The lender of last resort facilities, which are granted to banks in chronic liquidity difficulty in return for a guarantee provided by the latter. 

6 - The securities counter of the Ministry of Finance, through which banks buy or sell such things Public securities at their nominal value (that is to say at the interest rate in force) The tools mentioned are not sufficient for develop an efficient market which guides the financial sector, especially since it is unsuitable for the development of a sufficiently liquid market for government securities or for management A market built on the basis of monetary policy, and we see that currency auctions are applicable Recently, it is working well and satisfactorily while other tools have been reworked, such as Legal reserves do not provide banks with useful tools to manage liquidity and may confuse them In achieving the monetary goal, as it shares the requirements of government securities, but is not part of it . 

The diversity of credit facilities is not very transparent and does not always serve policy objectives, and the securities desk provides the Ministry of Finance with sufficient liquidity, policy instruments His speech, which will be adopted by the Central Bank of Iraq in this regard. It should be noted that the objective of developing new regulations and legal reserve facilities The bank aims to facilitate more efficient management of bank liquidity in the market and to encourage banks To deal with each other in a manner broader instead of dealing with the Central Bank The Iraqi government is exclusively concerned with liquidity management. We list below the main reasons and functionalities of each new tool: - PDF created with the trial version of pdfFactory Pro www.pdffactory.com 5 Mandatory legal reservations:

 Indeed, the reserve conditions Iraq in this regard. It should be noted that the objective of developing new regulations and legal reserve facilities The bank aims to facilitate more efficient management of bank liquidity in the market and to encourage banks To deal with each other in a manner broader instead of dealing with the Central Bank The Iraqi government is exclusively concerned with liquidity management. We list below the main reasons and functionalities of each new tool: - PDF created with the trial version of pdfFactory Pro www.pdffactory.com 5 Mandatory legal reservations: 

Indeed, the reserve conditions Iraq in this regard. It should be noted that the objective of developing new regulations and legal reserve facilities The bank aims to facilitate more efficient management of bank liquidity in the market and to encourage banks To deal with each other in a manner broader instead of dealing with the Central Bank The Iraqi government is exclusively concerned with liquidity management. We list below the main reasons and functionalities of each new tool: - PDF created with the trial version of pdfFactory Pro www.pdffactory.com 5 Mandatory legal reservations: Indeed, the reserve conditions develop new regulations and legal reserve facilities The bank aims to facilitate more efficient management of bank liquidity in the market and encourage banks to deal with each other more broadly instead of dealing with the central bank The Iraqi government is exclusively concerned with liquidity management. We list below the main reasons and functionalities of each new tool: - PDF created with the trial version of pdfFactory Pro www.pdffactory.com 

5 Mandatory legal reservations: Indeed, the reserve conditions develop new regulations and legal reserve facilities The bank aims to facilitate more efficient management of bank liquidity in the market and encourage banks to deal with each other more broadly instead of dealing with the central bank The Iraqi government is exclusively concerned with liquidity management. We list below the main reasons and functionalities of each new tool: - PDF created with the trial version of pdfFactory Pro www.pdffactory.com 5 Mandatory legal reservations: Indeed, the reserve conditions

Suit .....


Last edited by claud39 on Fri Nov 26, 2021 11:19 am; edited 1 time in total
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Post by claud39 Fri Nov 26, 2021 11:10 am

at least 10% of total deposit obligations Reserve balances are not compensable and statutory reserve requirements are announced from The Board of Directors of the Central Bank of Iraq has accepted and surrendered to the General Directorate of Statistics and Research and to the General Directorate of Credit and Banking Control, and forwards to the banks the report drawn up in accordance with the instructions to the General Directorate of Accounts. 

Minimum reserve requirements do not reflect best practices and, therefore, the Central Bank of Iraq Set new requirements in order to meet the monetary policy needs of a market economy, and where they exist Minimum reserve requirements are generally seen as a monetary policy tool and not as a control tool Therefore, the responsibility for monitoring each bank is subject to the new requirements that have been implemented Its transfer of management General of Credit and Banking Control to the General Directorate of Conventions and Lending, which in turn will have the primary responsibility for including monetary policy, such as Preparation of unified requirements for monetary policy purposes (i.e. - say the same for all reserve deposits). 

The new requirement ratio applies to all deposit obligations with regard to the concept of cash, as it makes The monetary multiplier (the ratio of the sum of money against the base currency) is more stable and more dependent on it, In addition, it has a neutral effect on the public's choice of deposit rights, which are in fact Preferable from a policy point of view tax, because foreign currency deposits are also included in The deposit is the basis of the legal reserve requirements, so foreign currency deposits can not be privileged And then (the process of dollarization) (that is, the dominance of the dollar over the Iraqi dinar), which is why the requirements against deposits of dinars or foreign currency must be in dinars. The instructions imposed multiple requirements on bank deposits with the Central Bank of Iraq On cash liquidity, and indeed the new requirements were consolidated in order to

The initial return that banks get for the new requirements results from the possibility of the requirements being on an average basis and not on a permanent basis. 

The needs remain fixed for monthly periods, but the frozen pending deposits are transferred to a single clearing account for each bank, and the balances maintained in their accounts are based on the rate.The average to meet the requirements can be deposited in dinars Iraqis with the Central Bank of Iraq (not in existing deposit facilities) in addition to new Iraqi cash in bank safes The bank may use its deposit or all of its deposits with the Central Bank of Iraq. 'Iraq n' any day as long as The legal reserve rate at the end of the working day (plus the average rate of the Iraqi dinar cash amount) is equal to or greater than the required amount.

 The board of directors of the Central Bank of Iraq set the reserve rate at 25% The new legal reserve allowed banks to use Iraqi dinar cash in the treasury to repay As needed, as and when as they increase with the increase in the assets of the legal reserve, and for the purposes of determining the effect of this The evolution of the bank's liquidity (without raising the requirement rate more than d 'usual), he stipulated The board will deposit 20% of the bank's deposits with the Central Bank of Iraq and 5% of it) is from the cash in the bank vaults. The average monthly rate of a period can make the legal reserve a useful tool For the purpose of absorbing the large fluctuations in the bank's liquidity and according to daily situations, and work stoppages 10% of the statutory reserves for securities public on a mandatory basis Separate for the money in the treasury. Existing facilities: 

When financial markets and, more broadly, financial systems, are underdeveloped, banks should The central bank should rely more on existing facilities than on open market operations In particular, the existing facilities can serve as a safety valve to respond to unfavorable developments in expected liquidity or to various obstacles or inefficiencies that prevent an orderly redistribution of reserves by the interbank market.

 That the function of this safety valve is also necessary, when the estimate of liquidity forecasts weakens, the new law of the Central Bank of Iraq allows the bank to save Loans and deposit facilities These facilities and the lender of last resort will replace the Exposure and Advance facilities that have been used, and the new law does not allow the exposure of banks' deposit balances with the Central Bank of Iraq.


The deposit and existing facilities are intended to guarantee banks the management of a surplus Its liquidity is at a moderate interest rate, which broadens the policy objectives of the bank Central Bank of Iraq concerning short-term interest rates and in the absence of developed markets Interbank securities and cash, in which the open market operations of the Central Bank are managed The latter expresses his opinion on short-term interest rates appropriate monetary policy by finding the "discount rate" as the indicative rate. 

The outstanding and deposit facilities bear interest rates linked to the bank's rate and also provide rates on the same This type of facility is a rate of interest that fluctuates between depositing and receiving cash from the bank.

 The Central Bank of Iraq for a specific maturity period (night investment), because this margin is necessary Encourage banks to develop a market and easily manage liquidity between them without necessarily having permanent relations with the Central Bank of Iraq, and as soon as the interbank market develops, It should be noted that the objective of the Central Bank of Iraq in open market operations is to maintain Short-term Interbank Interest Rate in price tunnels for two types of existing installations.

 The rates applied to the existing deposit and loan facilities float above or below the level Prices in the money market, and up to the development of securities transactions for the Ministry of Finance in The money market and the secondary market between banks will set the prices of these two types of facilities They have a relation with the central bank's guide price, and the central bank must monitor carefully the price in In view of the objectives of monetary policy, knowing that the board of directors of the bank had set the rate of the bank at 6%. Existing Loan Facility The existing primary credit facility provides overnight credit to banks in exchange for collateral appropriate to the willingness of banks to borrow as banks will be allowed to borrow under the overnight investment for the maximum possible amount for the bank's capital (provided that the bank provides an appropriate guarantee) and at a First day credit interest rate. 

The interest rate will be set at a rate higher than the rate of the Central Bank of Iraq The Board of Directors of the Central Bank set the initial price of the loan at the discount rate plus 2%, i.e. It becomes 8 % and the initial interest rate will decline in the future as financial markets develop and to increase caution Due to the nature of occasional and temporary installations,


Suit....
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Initial credit up to 20% of the bank's capital, or it can be used beyond the amount It is also subject to the prior approval of the Central Bank. Secondary credit facilities have the same qualification scale as primary credit facilities but may be extended for longer periods at a higher interest rate and granted by decision of the Central Bank. start an illness A margin of 1 (percentage) will be imposed on the initial lending rate to become 9%, which is not advantageous Banks can borrow additional funds under these conditions and in circumstances where they do not suffer Temporary banking crises, because the Central Bank of Iraq must settle and cover them Loans to banks in the event of an acute crisis with last resort facilities, which will be discussed below As part of the audit procedures imposed by the General Directorate for the control of the Banks and guarantees all advances by the Central Bank of Iraq under these facilities with guarantees accepted by the Central Bank of Iraq, and it publishes a list of acceptable guarantees for each type of facility and may be revised at any time. 

In principle, with regard to credit facilities First, the Central Bank of Iraq must accept securities issued by the Ministry of Finance Which has maturities of less than 180 days, the banks having to mortgage their securities In the deposit account of titles of the Ministry of Finance, at the request of the Central Bank of Iraq To indicate the required amount, which is a pledge on the guarantee account of the Central Bank of Iraq. Lender of last resort LLR The Central Bank of Iraq Act also allows lending to banks suffering from financial crises in In exceptional circumstances, for example, a bank may declare bankruptcy as a result of malicious or malicious rumors The Central Bank from Iraq may grant a loan to a bank with insufficient creditworthiness, but it continues to suffer Anyone who has a chronic lack of liquidity, and for this purpose the bank in the above two examples will be under penalty Intensive audit It is expected that audit procedures will continue with the aim of controlling the obstacles that it suffers Generally speaking, what appears at first glance about the cause of the liquidity crisis lies in the inability to repay all the debts at once. 

In fact, many countries go to great lengths to support banks that are suffering from a lack of cash The ability to repay their debts by granting them loans to support their liquidity and through the general treasury of the State The Central Bank Iraq does not have to stipulate that it lends to a bank that suffers from the inability to repay it Debt, as the law of the Central Bank of Iraq has precisely defined the conditions of exceptional loans in its article 30. These loans are only granted if the following conditions are met: A- If the bank, in the opinion of the Central Bank of Iraq,


The Central Bank of Iraq is for its financial assistance and is based on the need to improve liquidity a or, b- That such a request for assistance is necessary to maintain the stability of the financial system The Minister of Finance issues a guarantee to the Central Bank of Iraq, written on behalf of The Government of Iraq undertakes to repay the amount of the loan. The facilities of a lender of last resort may increase the amount of the loan secured for longer periods, and the central bank may accept collateral in traditional formats (provided they are carefully valued). applied to the lender of last resort facilities will be the bank's rate (Indicative Price) determined by the Central Bank of Iraq, in addition to a percentage . 5.9% to 5.3% Deposit facilities Central Bank of Iraq will create an existing deposit facility into which deposits can be accepted Overnight investment from banks with excessive balances.


 The Central Bank cannot deposit deposits into the Ease Account unless the Bank explicitly requests it, the interest rate on these deposits is set at a rate lower than the rate specified by the bank The Central Bank of Iraq, in principle, will be set at 2% less than the bank's rate.

 whether this The facilities will create a solid basis for very short-term interest rates and help the bank to regain some stability when it predicts future interest rates, and until the stock market changes Public finance , where the central bank can efficiently manage open market operations, the facilitation of deposits can automatically withdraw excess liquidity from the banking sector. the bank rate The monetary policy of the Central Bank of Iraq is expressed on the interest rates announced on the Iraqi market Liquidity is short-term, and currently, this market is not developed and we cannot trust it in any way. 

To give a picture of the policy of the Central Bank of Iraq, and up to the development of the market or the secondary market In the field of securities of the Ministry of Finance in the short term, the Bank will focus The central bank aims to determine the rates interest in force between banks for day-to-day investments, by fixing an interest rate Indicative interest This rate is called the discount rate, and banks are completely free to set the interest rates By dealing with each other in the market according to any interest rate agreed between them . The discount rate is the indicative price at which prices are set in the primary and secondary market and for loans of last resort


As well as overnight investment deposit rates. Therefore, the rate considered by the Central Bank of Iraq should maintain price stability and that its monetary policy will strive to achieve stability (This is to maintain bank liquidity at levels consistent with the bank rate). open market operations The central bank can influence bank liquidity (excessive reserves) and then influence the short-term interest rate by buying and selling government securities. 

The Selling Process The securities in the market and the assets of the Central Bank of Iraq will result in the withdrawal of liquidity from the banking system (i.e. by reducing the bank balances of their reserve accounts with the Bank Bank Central Iraq) and, in turn, the purchase by the Central Bank of Iraq in the market will increase Liquidity with the bank (i.e. from the balances of its reserve accounts) These operations are intended for the Open market will create a important secondary tool and will ensure efficient liquidity management (in conjunction with foreign currency auctions).

 It is also possible to follow different strategies in open market operations, for example and for the purpose of Achieving long-term monetary growth, the Central Bank of Iraq may choose one of these strategies on the basis of On the accumulation of foreign exchange reserves, the growth of the monetary impact of foreign exchange reserves is reflected Whether high or low prices through direct interventions aimed at imposing the stability of the exchange rate, which can hamper the process of opening the market, Otherwise, such operations can be determined in order to create a state of stability in the liquidity of the company Banks and to keep the market for short-term interest rates in the facility rate tunnel and deposits of the Central Bank of Iraq. 

Open market operations depend on auctions with banks, and these auctions are quite similar What about foreign currency auctions, which are currently handled by the Central Bank of Iraq, and the bank will take over Central Iraq is taken into account, especially when the government's stock market operations develop. purchase or repurchase as an effective tool in open market operations.

 Khawla /


See my guru, this is straight from the CBI, and this is not guru news, and this goes with research you are not doing, have a nice day !!

For your members that I send this, to you to read, and to make your own opinion dear members !!


Claud (Moose)
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Post by RamblerNash Fri Nov 26, 2021 2:57 pm

@claud39 wrote:Greetings guru !! I'm sending you this, and even if I'm chatting with you, it's wasting my time !!
Look at what I sent to my group, since you don't really do research, you start doing research when I challenge that's all !!


Don't forget that Iraq is part of the Arab Monetary Fund ||

Claud (Moose)


THE ARAB MONETARY FUND ORGANIZES THE SIXTH MEETING OF THE WORKING GROUP ON MODERN FINANCIAL TECHNOLOGIES IN THE ARAB COUNTRIES "FROM A DISTANCE"
 2021-11-25

On November 24-25, 2021
The people are discussing
Opportunities and challenges of applying artificial intelligence techniques in the financial sector 
Strategies for moving to open financing
Trends and justifications for issuing digital currencies and lessons from regional and international experiences 
Data privacy protection requirements in digital services
Frameworks to protect consumers of digital financial services
Recent trends in regulatory and supervisory techniques and their role in promoting innovation opportunities    
On Wednesday and Thursday, corresponding to November 24-25, 2021, the Arab Monetary Fund will organize the sixth periodic meeting of the Modern Financial Technologies Working Group in the Arab Countries "remotely". The meeting will be attended by representatives of Arab central banks and monetary institutions and officials concerned with modern financial technologies and payments at central banks and Arab monetary institutions, ministries of finance, capital market authorities, and Arab stock exchanges. In addition to representatives of international financial institutions, led by:
In the meeting, the group will discuss the areas of application of artificial intelligence techniques in the financial sector, and future challenges and opportunities. In this context, the group reviews the developments of the regulatory frameworks that govern the uses of artificial intelligence. In this regard, the group will listen to presentations from the Organization for Economic Cooperation and Development, the International Organization of Capital Market Authorities (ISCO), and the Institute of International Finance, in addition to reviewing the experiences of a number of Arab countries, and discussing the group’s working paper on the adoption of artificial intelligence and machine learning in the financial sector in Arab countries .
The group discussions will also address the latest developments in digital and stable currencies, in terms of reviewing recent trends, the reasons and challenges of issuing digital currencies and some of the leading regional and international experiences. The group will hear feedback from the Financial Stability Board and the Bank of England on cryptocurrencies. In this context, the group will also discuss a draft practical guide to activate the use of digital currencies in the Arab countries, which was prepared by the Arab Monetary Fund, based on a recent questionnaire distributed to Arab central banks.
On the other hand, the group's discussions touch on the main concepts of open banking operations, strategies for the transition to open financing, and regulatory and supervisory considerations in this regard, in order to enhance access to formal financial services and increase financial inclusion rates. In this context, a working paper prepared by the group will be discussed on the requirements for activating open financing, in addition to the vision document previously issued by the group on the subject in 2020. The discussions will also include the social responsibility of open financing service providers, and the challenges of data sharing in open financing operations .
The group will also discuss a working paper on regulatory and supervisory techniques, which covers recent trends and regional experiences, and the role of these technologies in encouraging innovation and supporting growth opportunities. The paper deals with the appropriate tools and mechanisms to be used by supervisory authorities to develop the application of these techniques. In this context, the group will hear a number of presentations from academic institutions.
In addition to the above, the topics of protecting consumers of digital financial services and protecting data privacy are of great interest to the group in this meeting, where recent developments and technologies in this field will be reviewed, in addition to discussing a working paper on the framework and experiences of customer data protection in the Arab countries. Finally, during the meeting, the group's work program for the first half of 2022 will be discussed, and preparations for the next meeting of the group during the month of May 2022 will be discussed. A list of priority issues and topics for 2022 will also be discussed.
On this occasion, His Excellency Dr. Abdul Rahman bin Abdullah Al-Hamidi, Director General and Chairman of the Board of Directors of the Arab Monetary Fund, praised the activities and meetings of the group, through what they contribute to the transfer of knowledge about laying the foundations for a stimulating environment for modern financial technologies in the Arab countries. His Excellency stressed that the development of the modern financial technology sector is one of the priorities of Arab central banks, due to its importance in advancing the capabilities of Arab economies to face the current challenges and support the recovery phase from the Corona pandemic, in addition to the role of financial technologies in supporting opportunities for financial inclusion, by accelerating the transition to digital financial services. . His Excellency stressed the importance of the indicative papers and guides that the group is working on, as a means of following up on the development of the modern financial technology industry in the Arab region, pointing to the importance of benefiting from them in developing the necessary policies to advance all aspects of the industry in the Arab region.
So they are having another meeting...Where does it say anything about changing the exchange rate for Iraq?

~~~~~~~~~~


Once again...

ARAB ACCOUNTING DINAR EXCHANGE RATES

The Arab Accounting Dinar (AAD) is the official and reporting currency of the Arab Monetary Fund. Its exchange rates are fixed by the Arab Monetary Fund (AMF) equivalent to three units of Special Drawing Rights (SDR) as determined by the International Monetary Fund (IMF).

https://www.amf.org.ae/en/page/arab-accounting-dinar-exchange-rates
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Totally Frustrated and Sad  Empty Re: Totally Frustrated and Sad

Post by RamblerNash Fri Nov 26, 2021 2:59 pm

@claud39 wrote:Initial credit up to 20% of the bank's capital, or it can be used beyond the amount It is also subject to the prior approval of the Central Bank. Secondary credit facilities have the same qualification scale as primary credit facilities but may be extended for longer periods at a higher interest rate and granted by decision of the Central Bank. start an illness A margin of 1 (percentage) will be imposed on the initial lending rate to become 9%, which is not advantageous Banks can borrow additional funds under these conditions and in circumstances where they do not suffer Temporary banking crises, because the Central Bank of Iraq must settle and cover them Loans to banks in the event of an acute crisis with last resort facilities, which will be discussed below As part of the audit procedures imposed by the General Directorate for the control of the Banks and guarantees all advances by the Central Bank of Iraq under these facilities with guarantees accepted by the Central Bank of Iraq, and it publishes a list of acceptable guarantees for each type of facility and may be revised at any time. 

In principle, with regard to credit facilities First, the Central Bank of Iraq must accept securities issued by the Ministry of Finance Which has maturities of less than 180 days, the banks having to mortgage their securities In the deposit account of titles of the Ministry of Finance, at the request of the Central Bank of Iraq To indicate the required amount, which is a pledge on the guarantee account of the Central Bank of Iraq. Lender of last resort LLR The Central Bank of Iraq Act also allows lending to banks suffering from financial crises in In exceptional circumstances, for example, a bank may declare bankruptcy as a result of malicious or malicious rumors The Central Bank from Iraq may grant a loan to a bank with insufficient creditworthiness, but it continues to suffer Anyone who has a chronic lack of liquidity, and for this purpose the bank in the above two examples will be under penalty Intensive audit It is expected that audit procedures will continue with the aim of controlling the obstacles that it suffers Generally speaking, what appears at first glance about the cause of the liquidity crisis lies in the inability to repay all the debts at once. 

In fact, many countries go to great lengths to support banks that are suffering from a lack of cash The ability to repay their debts by granting them loans to support their liquidity and through the general treasury of the State The Central Bank Iraq does not have to stipulate that it lends to a bank that suffers from the inability to repay it Debt, as the law of the Central Bank of Iraq has precisely defined the conditions of exceptional loans in its article 30. These loans are only granted if the following conditions are met: A- If the bank, in the opinion of the Central Bank of Iraq,


The Central Bank of Iraq is for its financial assistance and is based on the need to improve liquidity a or, b- That such a request for assistance is necessary to maintain the stability of the financial system The Minister of Finance issues a guarantee to the Central Bank of Iraq, written on behalf of The Government of Iraq undertakes to repay the amount of the loan. The facilities of a lender of last resort may increase the amount of the loan secured for longer periods, and the central bank may accept collateral in traditional formats (provided they are carefully valued). applied to the lender of last resort facilities will be the bank's rate (Indicative Price) determined by the Central Bank of Iraq, in addition to a percentage . 5.9% to 5.3% Deposit facilities Central Bank of Iraq will create an existing deposit facility into which deposits can be accepted Overnight investment from banks with excessive balances.


 The Central Bank cannot deposit deposits into the Ease Account unless the Bank explicitly requests it, the interest rate on these deposits is set at a rate lower than the rate specified by the bank The Central Bank of Iraq, in principle, will be set at 2% less than the bank's rate.

 whether this The facilities will create a solid basis for very short-term interest rates and help the bank to regain some stability when it predicts future interest rates, and until the stock market changes Public finance , where the central bank can efficiently manage open market operations, the facilitation of deposits can automatically withdraw excess liquidity from the banking sector. the bank rate The monetary policy of the Central Bank of Iraq is expressed on the interest rates announced on the Iraqi market Liquidity is short-term, and currently, this market is not developed and we cannot trust it in any way. 

To give a picture of the policy of the Central Bank of Iraq, and up to the development of the market or the secondary market In the field of securities of the Ministry of Finance in the short term, the Bank will focus The central bank aims to determine the rates interest in force between banks for day-to-day investments, by fixing an interest rate Indicative interest This rate is called the discount rate, and banks are completely free to set the interest rates By dealing with each other in the market according to any interest rate agreed between them . The discount rate is the indicative price at which prices are set in the primary and secondary market and for loans of last resort


As well as overnight investment deposit rates. Therefore, the rate considered by the Central Bank of Iraq should maintain price stability and that its monetary policy will strive to achieve stability (This is to maintain bank liquidity at levels consistent with the bank rate). open market operations The central bank can influence bank liquidity (excessive reserves) and then influence the short-term interest rate by buying and selling government securities. 

The Selling Process The securities in the market and the assets of the Central Bank of Iraq will result in the withdrawal of liquidity from the banking system (i.e. by reducing the bank balances of their reserve accounts with the Bank Bank Central Iraq) and, in turn, the purchase by the Central Bank of Iraq in the market will increase Liquidity with the bank (i.e. from the balances of its reserve accounts) These operations are intended for the Open market will create a important secondary tool and will ensure efficient liquidity management (in conjunction with foreign currency auctions).

 It is also possible to follow different strategies in open market operations, for example and for the purpose of Achieving long-term monetary growth, the Central Bank of Iraq may choose one of these strategies on the basis of On the accumulation of foreign exchange reserves, the growth of the monetary impact of foreign exchange reserves is reflected Whether high or low prices through direct interventions aimed at imposing the stability of the exchange rate, which can hamper the process of opening the market, Otherwise, such operations can be determined in order to create a state of stability in the liquidity of the company Banks and to keep the market for short-term interest rates in the facility rate tunnel and deposits of the Central Bank of Iraq. 

Open market operations depend on auctions with banks, and these auctions are quite similar What about foreign currency auctions, which are currently handled by the Central Bank of Iraq, and the bank will take over Central Iraq is taken into account, especially when the government's stock market operations develop. purchase or repurchase as an effective tool in open market operations.

 Khawla /


See my guru, this is straight from the CBI, and this is not guru news, and this goes with research you are not doing, have a nice day !!

For your members that I send this, to you to read, and to make your own opinion dear members !!


Claud (Moose)
Claud,

You are confusing the banks in Iraq with the CBI.

All the article says is that banks must keep a minimum reserve as directed by the CBI.

All countries Central Banks have a policy like this that banks must operate under.

https://en.wikipedia.org/wiki/Reserve_requirement


None of what you have posted has anything to do with a change in the exchange rate. You are misleading yourself, and others, thinking it does...
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Totally Frustrated and Sad  Empty Re: Totally Frustrated and Sad

Post by claud39 Fri Nov 26, 2021 3:59 pm

OK MY GOUROU !!   Totally Frustrated and Sad  2834342768 I see you don't look forward much, so stay in your dome my guru !!!


Totally Frustrated and Sad  2834342768  May you diciple follow you my guru !!   meditate Totally Frustrated and Sad  2834342768






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