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Dr.. The appearance of Muhammad Salih *: A testimony of history on the issue of raising the value of the Iraqi dinar in the year 2006-2008, as revealed by Professor Muhammad Allawi in his last lecture in Washington ** DinarDailyUpdates?bg=330099&fg=FFFFFF&anim=1

Dr.. The appearance of Muhammad Salih *: A testimony of history on the issue of raising the value of the Iraqi dinar in the year 2006-2008, as revealed by Professor Muhammad Allawi in his last lecture in Washington **

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Dr.. The appearance of Muhammad Salih *: A testimony of history on the issue of raising the value of the Iraqi dinar in the year 2006-2008, as revealed by Professor Muhammad Allawi in his last lecture in Washington ** Empty Dr.. The appearance of Muhammad Salih *: A testimony of history on the issue of raising the value of the Iraqi dinar in the year 2006-2008, as revealed by Professor Muhammad Allawi in his last lecture in Washington **

Post by claud39 on Fri Dec 20, 2019 8:49 am

Dr.. The appearance of Muhammad Salih *: A testimony of history on the issue of raising the value of the Iraqi dinar in the year 2006-2008, as revealed by Professor Muhammad Allawi in his last lecture in Washington **


12/19/2019



Dr.. The appearance of Muhammad Salih *: A testimony of history on the issue of raising the value of the Iraqi dinar in the year 2006-2008, as revealed by Professor Muhammad Allawi in his last lecture in Washington ** Dr.-Mudher-new-image-2-1-e1561918112323



I would like to mention that the Paris Club Agreement signed on November 21, 2004, which canceled 80% of the total debt of Iraq, which was arranged before 1990 and estimated at that time at about $ 128 billion (which was led by Mr. Adel Abdul-Mahdi) and was shared with him until the day it was signed by Dr. Sinan al-Shabibi And Mr. Aziz Jaafar, and I personally and a number of women, committed Iraq to historical stages for writing off debts before the expiry of the next 6-year grace period, provided that a corrective program was signed with the International Monetary Fund. 


As it canceled 30% of Iraq’s debt immediately after signing the Paris Club agreement in 2004 and another 30% written off if Iraq signed the SBA credit agreement with the International Monetary Fund that was signed in the last month of 2005 provided that another 20% be written off when Iraq succeeded in implementing His agreement with the fund at the end of 2008 to make the total debt written off 80% ؜





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Dr.. The appearance of Muhammad Salih *: A testimony of history on the issue of raising the value of the Iraqi dinar in the year 2006-2008, as revealed by Professor Muhammad Allawi in his last lecture in Washington ** Empty Re: Dr.. The appearance of Muhammad Salih *: A testimony of history on the issue of raising the value of the Iraqi dinar in the year 2006-2008, as revealed by Professor Muhammad Allawi in his last lecture in Washington **

Post by claud39 on Fri Dec 20, 2019 8:59 am

Securities in monetary policy

Dr.. The appearance of Muhammad Salih *: A testimony of the history of Kh on a subject
Year


Dr.. The appearance of Muhammad Salih *: A testimony of history on the issue of raising the value of the Iraqi dinar in the year 2006-2008, as revealed by Professor Muhammad Allawi in his last lecture in Washington ** Dr.-Mudher-new-image-2-1-e1561918112323





Raise the value of the Iraqi dinar 2006-2008, as
 Please disclose the last
J wipe

On her behalf, Mr. Muhammad Alawi Q.
J Washington

S **
1 I would like to note that the Paris Club Agreement signed on November 21, 2004
Which canceled 80% of the total Iraqi debt that was arranged before 1990
Estimated at that time to be about $ 128 billion) that
Adel Abdul-Mahdi (and subscribed to it until the day it was signed by Dr. Sinan Al-Shabibi
And Mr. Aziz Jaafar, and I personally committed Iraq to stages and a number of women.

Historic debt write-off before the next 6-year grace period ends
Provided that a corrective program is signed with the International Monetary Fund. It dropped 30%
Of the Iraqi debt, immediately after the signing of the Paris Club agreement in 2004, and another 30%
Once Iraq signed the SBA with a fund, it canceled
International currency, which took place in the last month of 2005, to be completed

Another is when Iraq succeeds in implementing its agreement with the fund at the end
Write off 20% a
In 2008, the total debt forgiveness will be 80% ٪

2. In the first consultations in Amman with the International Monetary Fund, inflation was
The annual rate at that time is more than 20% and the economic model that it adopts
The Fund in implementing its program with Iraq may require reducing inflation to a level
One decimal point to about 6%, and that this reduction needs to be approved
My name for the Iraqi dinar increases the external value of the nominal dinar
 anchor, which is the gradual increase in the Iraqi dinar exchange rate by an approximation
20% over the years of the program, as well as raising the internal value of the Iraqi dinar

That is, the interest rate by adopting the monetary policy interest rate, which it lends and borrows
The central bank of local banks with at least 20% of that to counter the forces
Import forces in particular generate inflationary expectations and are not intended
In both cases, the central bank was forced to pursue a deflationary monetary policy to cut
Inflation was called policy tighten and as a witness to the history of events in
A closed meeting that included the head of the Iraq mission at the International Monetary Fund and Mr. Minister
Irrigation personally, the head of the mission asked for clarification of the finance and Mr. Aziz Jaafar and Bahdu
The implementation of this internationalist program requires preconditions, which are acceptance of a value adjustment
The Iraqi dinar, internal and external, i.e. interest rates and the exchange rate. Has been
To adopt such a monetary policy
Categorically
Dr. Sinan rejected a restrictive policy
UNCTAD was in conflict with development years after Dr. Sinan spent 20
It is one of the development organizations that ideologically intersect with the Monetary Fund
Dr. Sinan left the meeting and left, saying, "I will not accept the international."

With such oppressive terms of development (I had to talk to him to return to the meeting
Closed, the head of the IFAD mission indicated that the program should be stopped with them
Stop the Paris Club agreement! Reloading Iraq debt before 1990 with
Its continued delay benefits that are the product of the previous regime is what makes the damage
Larger. Everyone was forced to accept the de facto situation in improving the dinar exchange rate

To reach the end of the program at the end of 2008 at about 1182 dinars about the dollar yet
If it is 1560 dinars per dollar at the end of the year 2005.

3. The problem in my estimation is not only the appreciation of the dinar at the time, though
Annual inflation decreases from 22% to 6% in the phenomenon of disinflation
In other words, there are low or decreasing increases in the general level of prices at the time
But the major problem has been the increase in the number of government workers to five
Times today compared to 2003 and the rise in the value of government wages 7 times
Make the average government employee’s salary equal to approximately twice per capita share of
GDP, adding double benefits to government employment
The first comes from monetary policy and exchange rate stability, and the second from an increase
Wages and salaries as well as high bank interest on savings from
He had savings.

 In addition, the increase in the allowances in salaries
Government (which makes up 66% of today's salary components (those are exempt)
Allocations (from income taxes and a government decision in 2009 until
Today.

Baghdad on December 14, 2019

(**) Muhammad Allawi Lecture video link

https://www.youtube.com/watch?v=xsStEhEWMoc&feature=youtu.be

(*) Iraqi academic researcher and writer

Copyright © Iraqi Economist Network. Republishing is permitted provided that
Source.

http://iraqieconomists.net/



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Dr.. The appearance of Muhammad Salih *: A testimony of history on the issue of raising the value of the Iraqi dinar in the year 2006-2008, as revealed by Professor Muhammad Allawi in his last lecture in Washington ** Empty Re: Dr.. The appearance of Muhammad Salih *: A testimony of history on the issue of raising the value of the Iraqi dinar in the year 2006-2008, as revealed by Professor Muhammad Allawi in his last lecture in Washington **

Post by claud39 on Sun Dec 22, 2019 2:36 pm

I found a better translation of the text than mine, so have a good read !!

Claud (Moose)



1. I would like to mention the Paris Club agreement signed on November 21, 2004, which canceled 80% of the total Iraqi debt that had been concluded before 1990, estimated at the time to be around $ 128 billion) that Mr. Adel Abdul-Mahdi (and subscribed to it until the day it was signed by Dr. Sinan Al-Shabibi And Professor Aziz Jaafar, and myself and several women, hired Iraq in stages. corrective program to be signed with the International Monetary Fund. It fell 30% of Iraqi debt immediately after the signing of the Paris Club agreement in 2004, and an additional 30% once Iraq signed a SBA credit agreement with a fund, it is written off from international currency, which occurred in the last month of 2005 will be completed an additional 20% will be amortized when Iraq successfully implements its agreement with the fund 2008, total debt cancellation will be 80% ٪

2. During the first consultations in Amman with the International Monetary Fund, the inflation was the annual time at that time is more than 20% and that the economic model is adopted The Fund implementing its program with the Iraq may need to reduce inflation to a decimal point to around 6%, and tha t this need for reduction to approve the nominal nominal of the Iraqi dinar increases the external value of the dinar It is the gradual increase in the exchange rate Iraqi dinar by 20% anchor approximation over the years of the program, as well as the increase in the internal value of the Iraqi dinar



In other words, the interest rate by adopting the interest rate of monetary policy, which it lends and borrows The central bank of local banks with at least 20% of that to counter the forces Generate inflationary expectations, which specifically refers to import forces In both cases the central bank was forced to pursue a deflationary monetary policy to cut as a witness to the history of events, inflation is called a policy tighten a closed meeting which included the head of the mission in Iraq to the International Monetary Fund and the Minister of Finance and Mr. Aziz Jaafar, in my personal presence, asked the head of the mission, explaining that the implementation of this international program requires prerequisites, namely the acceptance of a value adjustment The Iraqi dinar,


 internally and externally, that is, interest rates and the exchange rate. Was Dr. Sinan flatly refused to adopt such a restrictive monetary policy (politics)
It conflicts with advancement of development after Dr Sinan spent 20 years at UNCTAD It is one of the development organizations that ideologically overlap with the International Monetary Fund Sinan left the meeting and left saying with the text: I will not accept with such oppressive development conditions (I had to speak to him to return to the closed meeting because the head of mission of the fund indicated that the program should be stopped with them Stop the agreement Paris Club Reload Iraqi debt before 1990 with its persistent delays which are the product of the previous regime is what aggravates the damage.
Everyone was therefore forced to accept the fait accompli by improving the exchange rate of the dinar. To reach at the end of the program at the end of 2008 around 1182 dinars on the dollar afterwards. If it was 1560 dinars the dollar at the end of 2005

3. The problem in my estimate is not only the appreciation of the dinar at the time, although disinflation A decrease in annual inflation from 22% to 6% within the phenomenon In other words, it there are small or decreasing increases in the general level of prices over time But the major problem has been the increase in the number of civil servants to five times today compared to 2003 and the increase in the value of government salaries 7 times Make the average salary of a government official equal to about twice the share of GDP per capita, add double benefits to government jobs The first comes from monetary policy and stable exchange rates, and the second from higher wages and salaries and high bank interest on the savings of He had Savings. In addition, the increase in salary allowances


Government (which represents 66% of current salary elements (are exempt)) Allowances (from income tax and a government decision from 2009 to the present).

Baghdad December 14, 2019 (**) Video link of the conference of Muhammad Allawi YOUTUBE VIDEO LINK (*) Iraqi researcher and writer



Copyright © Ethnic Economists Network. Republication is allowed provided you are referred to the source. http://iraqieconomists.net/
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