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Opinion on the subject of dinars !!

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Opinion on the subject of dinars !! - Page 2 Empty Re: Opinion on the subject of dinars !!

Post by claud39 on Wed Sep 23, 2020 11:25 am

Good my RamblerNash !!

  I will help you better understand what is to come, I will not even give you my comment, just articles which are directly from the central bank at the start !!



Governor of the Central Bank of Iraq chairs the meeting of the Currency Affairs Committee




September 23, 2020





Opinion on the subject of dinars !! - Page 2 Article-160084443196964










His Excellency the Governor of the Central Bank of Iraq, Mr. Mustafa Ghaleb Makhaif, chaired a meeting of the Currency Affairs Committee in this bank in the presence of all the members. In a previous meeting.
 

The committee also discussed a number of issues and took a number of decisions that would contribute to raising and improving the level of currency management.
 

The Central Bank of Iraq 
information Office
2020/9/23










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Post by claud39 on Wed Sep 23, 2020 11:32 am

We go on !!


Claud (Moose)




Banking sector reform






September 20, 2020





Opinion on the subject of dinars !! - Page 2 News-160058659032391










His Excellency the Governor of the Central Bank of Iraq, Mr. Mustafa Ghaleb Makhaif Al-Kitab, chaired a meeting of the General Directors Board of this bank on Saturday, 19 September 2020.
 
The meeting discussed a number of topics, the most prominent of which was "preparing a paper for reforming the banking sector," as the Board adopted that paper in preparation for submitting it to the Board of Directors of the Central Bank for approval and commencement of its implementation.
 

The Central Bank of Iraq
information Office
September 20, 2020






https://cbi.iq/news/view/1556






Looks like they think the same thing, according to you !!!



Claud (moose)




Al-Nusayri puts before the government a comprehensive economic reform paper in his new book "Our Economy and the Reform Movement"



Opinion on the subject of dinars !! - Page 2 23144








Economy News - Baghdad



A newly released book by Samir Al-Nusiri, the economic and banking advisor to the Association of Iraqi Private Banks, was recently released in Baghdad, tagged (Our Economy and the Reform Movement 2015-2020).



It is a book that discusses economic and banking reform for years after the economic and security shocks and the global oil price drop after mid-2014 and during the Coronavirus crisis, for which a special chapter is devoted.



Once again, the economic and banking advisor, Samir Al-Nasiri, puts us in front of a new juice based on his experience, experience, and his relentless adaptation of the economic, financial and banking reality, in this book entitled (Our Economy and the Reform Movement 2015-2020).



The chapters of the book are characterized by the multiplicity of dimensions in which the author becomes jealous based on a holistic vision that aims to shape the economic reality on the basis of rules and constants that form the basis for the economic construction, and at the same time as a starting point for amendment, correction and reform to remove obstacles and obstacles, and to formulate consistent and integrated policies in order to achieve the desired goals.



Whereas fiscal and monetary policy are two basic pillars of the economy, the author deals with the two sides within the framework of the symbiosis of roles and policies, as well as the mutual effects between the two policies, which requires permanent coordination between them.



In keeping with the plans of the Central Bank and its strategy for the years (2016-2020), the author details the size of the initiatives and achievements made by the Central Bank of Iraq during the past years in achieving monetary and financial stability and in the institutional reconstruction of the bank to accommodate modern international developments, concepts and standards in all aspects of the bank.



The book deals with what enhances the role of the banking sector in advancing growth and progress by expanding the circle of financial inclusion, applying institutional governance and benefiting from technological progress in developing electronic payment methods.



The book that we have in our hands is a paper of ideas and visions, and it is a careful and careful reading of many phenomena and challenges, and provides solutions and treatments for them in a spirit of optimism, positivity, and a distinct patriotic feeling.



It should be noted that the book includes four chapters and 88 topics, with a number of 340 pages, and two documentary attachments.



The current book is the eighth of the author, and seven books have already been published, all of which discuss economic, financial and banking reform during the past six years, respectively:

(Economic implications in the Arab movement countries and the Iraqi experience in the applications of monetary policy) and (Reform of the banking sector in Iraq challenges and strategy reforms (F) Reforming the banking sector is the first step for economic reforms in Iraq. (F) The methodology of economic and banking reform in Iraq (and) The Central Bank of Iraq facing the challenges of the economic and financial crisis for the years (2015-2017) and (My vision for economic reform in Iraq) and (Light At the end of the tunnel - Economic and Banking Insights and Studies) and it was printed in two editions in Baghdad and Beirut by the Union of Arab Banks, and it is deposited and preserved in the Library and Archives in Baghdad.






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Post by claud39 on Wed Sep 23, 2020 11:36 am

You see I'm giving you a hand, here's another article !!

Claud (Moose)



International Monetary Fund: We are ready to support Iraq




09/23/2020



Opinion on the subject of dinars !! - Page 2 23210





Economy News _ Baghdad



Central Bank Governor Mustafa Ghaleb Makhaif discussed, on Wednesday, with the International Monetary Fund, providing support and technical advice, and coordinating financial and monetary policies and financial control plans.

"The Governor of the Central Bank of Iraq, Mustafa Ghaleb, is terrifying. He held a meeting in visual contact with the International Monetary Fund, and during the meeting, topics related to the economic situation in Iraq were discussed."

The statement added, "The readiness and willingness of the fund to assist Iraq by providing support and technical advice and coordinating financial and monetary policies and financial control plans were discussed."



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Post by claud39 on Wed Sep 23, 2020 11:53 am

Hey, it looks like I'm generous today, I'll share other things with you !!


Claud (Moose)




The most important thing was in the speech of the Minister of Planning, Prof. Dr. Khaled Battal Al-Najm, which he delivered today, Monday, during his participation in the meetings of the 35th session of the FAO Regional Conference for the Near East, which was held "hypothetically" on September 21-22.




2020-09-21



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Opinion on the subject of dinars !! - Page 2 1f539The Covid-19 pandemic and the financial crisis have caused an increase in poverty rates in Iraq to more than 31%


Opinion on the subject of dinars !! - Page 2 1f539The vulnerable segments of society were the most affected and affected by this crisis as a result of the suspension of many businesses, especially the private sector.


Opinion on the subject of dinars !! - Page 2 1f539Under difficult circumstances, the Iraqi government is working to develop possible policies and plans to face the challenges resulting from the current crisis, to reduce its negative effects on the economy and society.


Opinion on the subject of dinars !! - Page 2 1f539The Ministry of Planning has begun work to review the paths of the five-year national development plan 2018-2022, and the national vision for sustainable development 2030, in line with the nature of the challenges and their future implications.


Opinion on the subject of dinars !! - Page 2 1f539The Iraqi government pays exceptional attention to the private sector, in order to empower it and achieve true partnership with the public sector, within the framework of a comprehensive national strategy.


Opinion on the subject of dinars !! - Page 2 1f539We believe in the importance of the role of civil society organizations in supporting the efforts of the government and society to face current and future challenges.


Opinion on the subject of dinars !! - Page 2 1f539We launched the National Poverty Reduction Strategy in Iraq, which includes a set of policies, programs and projects to improve the lives of the poor in the areas of health, education, housing, income and food.


Opinion on the subject of dinars !! - Page 2 1f539We call on the countries participating in the conference to work hard in order to achieve economic and agricultural integration among themselves, in order to secure lunch for their people.

Opinion on the subject of dinars !! - Page 2 1f53aThe word Iraq was the first among the words of the participating countries




https://mop.gov.iq/activities_minister/view/details?id=1279





FAO Regional Conference for the Near East (NERC)




Opinion on the subject of dinars !! - Page 2 64db0662cb






35 th session, 21 to 22 September 2020

Food systems in the Near East and North Africa (NENA) must change to ensure healthy diets for a growing urban population amidst water scarcity and climate change. This transformation should make it possible to meet the challenges of ensuring the availability, access, stability and use of foodstuffs so as to offer small producers and rural communities opportunities in terms of income growth, employment. and increasing food production and productivity, while ensuring the sustainability of the region's ecosystems and meeting the objectives of adaptation to climate change and mitigation of its effects. Innovation and digitization remain little used resources in this area,

In this regard, the Food and Agriculture Organization of the United Nations (FAO) is holding its 35 th session of the Regional Conference for the Near East (NERC-35) for 2020 under the theme "Transforming food systems to achieve the Sustainable Development Goals. "

NERC 35 will be summoned virtually, on an exceptional basis, due to the global COVID-19 pandemic and associated public health concerns. The move to a virtual format followed consultations with the Director-General of FAO, regional groups representing member nations and with the agreement of the host country, Oman.

During this two-day online conference, agriculture ministers, partner organizations, sister agencies and senior officials from Member Countries will meet to discuss regional challenges and priorities related to this topic in the Near East and North Africa. This will ensure the effectiveness of FAO's impact in the region and help define its work priorities for the next biennium.

These priorities will be determined through round tables and discussions with all Member Countries, in order to identify best practices for transforming food systems and achieving the Sustainable Development Goals, while harnessing the power of innovation and innovation. digitization.

NERC-35 will be held this year virtually from September 21-22, 2020, and will host several online discussions on the following issues:


  • The State of Food Security in the Near East and North Africa: Adapting Food Systems to Respond to an Increasingly Urban Population

  • Building resilient farming communities to stimulate local economies and promote rural employment

  • Ensuring a sustainable environment in the context of water scarcity and climate change

  • COVID-19 in the Near East and North Africa region Impacts and responses

  • The “hand in hand” initiative to leave no one behind



The conference will take place on the Zoom videoconferencing platform, using the “Meeting” format. Participants are requested to register both for the conference at the site indicated in the invitation letter and to register a second time for Zoom as well.

Attendance at the Zoom conference is by invitation only, but the conference will be webcast for public viewing.




http://www.fao.org/about/meetings/nerc35/fr/
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Opinion on the subject of dinars !! - Page 2 Empty Re: Opinion on the subject of dinars !!

Post by claud39 on Wed Sep 23, 2020 12:11 pm

Well, I am finishing sharing some news with you to help you, since I don't want to start as before, and I will leave the way open to you to put some news so that the members follow the news of the country, especially I see that you know your subject well, at least in my opinion !!

You have sickened me enough to give you free rein on the news, but at least push your research, I don't need you to follow the news of the country, even that I follow the news more diligently than you on Iraq !!

But give good research on iraq, and for the forum world, they deserve the truth, good day everyone !!!

My question according to you !!

Do they meet the international demand to control the borders ??

We control the borders, and we make sure that the taxes are paid directly to the government, and that will control corruption !!



Claud (Moose)



The Minister of Planning chairs an expanded meeting to discuss mechanisms for developing border crossings








2020-09-22





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The Minister of Planning, Prof. Dr. Khaled Battal Al-Najm, called today, Tuesday, the Iraqi private sector to establish specialized laboratories to examine imported goods and products, in coordination with the Central Organization for Standardization and Quality Control, the Iraqi Accreditation Authority, and the Border Ports Authority.



This came when the Minister chaired an expanded meeting to discuss mechanisms and ways to develop the work of the border outlets, in which the head of the Border Ports Authority, Dr. Omar Al-Waeli, the head of the Central Organization for Standardization and Quality Control, Dr. Hussein Ali Daoud, the Director General of the General Authority for Customs Sadiq Howeidi, and the Director General The Iraqi Accreditation Authority, Dr. Muhammad Latif Ahmed, and a number of women and gentlemen general managers of the Border Ports Authority.

During the meeting, the Minister affirmed that the Prime Minister, after his visit to a number of border crossings, directed the formation of a ministerial committee, which would examine possible mechanisms to develop the reality of these outlets and address the accumulated problems that they suffer from, indicating that the committee will present its report after reaching its recommendations in this regard.

 The matter, pointing out that one of the treatments is to give the private sector an important role in participating in examining imported goods and materials by accrediting specialized laboratories and accredited by the Iraqi Accreditation Authority, noting that the process of developing border outlets requires financial allocations, which we are working to provide through what is done Allocating it within the next year 2021 budget, as well as allocating a percentage of the revenues of the ports allocated to the governorates, for the rehabilitation of infrastructure, in all border outlets, and at the forefront of which are the land and sea ports.

In addition, the meeting witnessed the discussion of a number of proposals submitted by the participants, aimed at developing the reality of work at the border crossings.

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Opinion on the subject of dinars !! - Page 2 Empty AL-KAZEMI: WE ARE READY TO OVERCOME THE OBSTACLES FACING THE WORK OF THE MONETARY FUND IN IRAQ

Post by claud39 on Wed Sep 23, 2020 1:04 pm

I cannot understand that they are wasting time between the IMF and the Iraqi Government !!

Especially if I got on you RamblerNash !! considering that in your point of view they will have no chance of a return to the international market, and of having an exchange rate to trade with other countries !!

  The government should slow down to make the reforms, the aid for the economic side by the international one, that does not give anything, they will not return on the international one according to you !!

Okay now I'm going to go do my homework, as I have already watched a lot of government news on my side !!


Claud (Moose)


AL-KAZEMI: WE ARE READY TO OVERCOME THE OBSTACLES FACING THE WORK OF THE MONETARY FUND IN IRAQ



19 Aug 2020


Opinion on the subject of dinars !! - Page 2 441304_image_18




Washington-Al-Sharqiya, August 19: Iraqi Prime Minister Mustafa Al-Kazemi received at his residence in Washington the Director General of the International Monetary Fund, Kristalina Georgieva.

Al-Kazemi stressed during the meeting that Iraq is looking forward to working with the IMF to achieve economic reform and that the government is ready to overcome all obstacles facing the work of the International Monetary Fund in Iraq.

According to a statement by the Prime Minister's Office, the two sides discussed the possibility of concluding an agreement with the International Monetary Fund, to support the Iraqi economy and reduce its dependence on oil, by rehabilitating other sectors and making them compete with the oil sector in the way that can be achieved through Absorb unemployment in the country ... 


For its part, the Director General of the Monetary Fund confirmed its belief in partnership with Iraq, and the importance of standing with it from international economic institutions, whether it is the International Monetary Fund or the World Bank.




https://alsharqiya.com/ar/news/al-kazemi-we-are-ready-to-overcome-the-obstacles-facing-the-work-of-the-imf-in-iraq
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Post by RamblerNash on Thu Sep 24, 2020 4:50 am

@claud39 wrote:Good my RamblerNash !!

  I will help you better understand what is to come, I will not even give you my comment, just articles which are directly from the central bank at the start !!



Governor of the Central Bank of Iraq chairs the meeting of the Currency Affairs Committee




September 23, 2020





Opinion on the subject of dinars !! - Page 2 Article-160084443196964










His Excellency the Governor of the Central Bank of Iraq, Mr. Mustafa Ghaleb Makhaif, chaired a meeting of the Currency Affairs Committee in this bank in the presence of all the members. In a previous meeting.
 

The committee also discussed a number of issues and took a number of decisions that would contribute to raising and improving the level of currency management.
 

The Central Bank of Iraq 
information Office
2020/9/23








And how does this relate to your start date and your 1 to 1 currency exchange rate?
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Post by RamblerNash on Thu Sep 24, 2020 4:51 am

@claud39 wrote:Sorry I forgot to mention this to you !!

If you follow the economic news on Iraq, you should know that the new currency of Iraq is considered the best currency against corruption, especially before the old currency which was easy to print for corruption, with the new one. currency and with international standards the new Iraqi currency is currently considered as the best currency to avoid counterfeiting for corruption !!

I'm sure you must know this !!!

Now Good evening everyone, and really tired of persisting and giving my opinion, the more we advance on this discussion, the less I want to share the news of the country !!

I share my opinion only for the members of the forum to give a contrary opinion of yours, period !!


Claud (Moose)
A temper tantrum Claud?

You are better than this.
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Post by RamblerNash on Thu Sep 24, 2020 4:58 am

@claud39 wrote:You should read this article that you forgot to share my RamblerNash !!

The professor in economics, and very respect in his opinion on the economy, and since I am this economist, he pushes a lot on the side to deprive either banks for example, and SMEs like industry to deprive, the project of government is to push workers to go to the private sector, instead of working for the government, and if you follow the news, then you should know that they want to reform the economic system of the country, and see what the new government is being done, they are following the advice of the economics professor at present !!

By the way when I read your article she is not saying that it will not happen, she is just saying that it is not the time, and that is an opinion like any other !!

Is it the central bank's plan to delay the change in the value of the dinar against the US dollar, ??

 I am not that sure !!

Small return on your article that you sent to me to try to make me sick !!

Sumaisem indicated that now is not a suitable time to manipulate zeros or currency as its value will change, and regarding the removal of zeros, this requires monetary stability and this was decided at the time of the Sinan al-Shabibi administration of the Central Bank.

Look what she says: Now is not a good time to manipulate zeros or currency as its value will change, and as far as removing zeros goes, that requires monetary stability and this was decided at the era of the Sinan al-Shabibi administration of the Central Bank.

So the project exists to remove the 3 zeros !!
How to stabilize the monetary side, with the private sector, and not only with oil !!

The economic expert called for improving the status of the dinar so that every 100 dinars is equal to 100,000 Iraqis, and therefore to raise the zeros so that every 100 dollars is equal to 100 Iraqi dinars, and therefore the dinar is equal to the dollar.

When I read this, it is still the project to suppress the 3 zeros, and why they want to do that, when you trade with other countries, and that the actuaries of each country who work in economics, it was difficult to do the calculations among themselves, easier to do 1 for 1 in the calculations !!


But Sumaisem believes that picking up the zeros is not possible at the moment, due to the monetary and economic crisis in Iraq.

She is not saying that it will not happen, it is not the current moment, but it is not yet 2021, if I am not mistaken !!


If they start reconstruction at the beginning of 2021, it will take a value to negotiate contracts between Iraq, and the other countries !!

And removing zeros from the currency is the process of replacing the old currency with a new one that is priced lower than the old currency by the number of zeros that will be removed, for example removing three zeros from the currency Iraqi means that one dinar of the new currency is equivalent to 1000 dinars of the old currency.

The process of replacing the old currency !!

 You see !! they have already made the new currency, and to make a change you have to go through the street system to be sure about the change of currency

The Iraqi Minister of Finance has proposed to reduce the price of the Iraqi dinar as a measure to deal with the financial crisis, as Sumaisem believes that this proposal will be the closest scenario .. and will avoid compromising storage at the central bank.


 What am I reading !!!

because Sumaisem believes that this proposal will be the closest scenario .. and will avoid compromising storage at the central bank.

So if I understand correctly this is the closest scenario !! Do you think we are coming around 2021 ???


Claud (Moose)





Al-Nusayri puts before the government a comprehensive economic reform paper in his new book "Our Economy and the Reform Movement"






09/20/2020





Opinion on the subject of dinars !! - Page 2 23144









Economy News - Baghdad


A newly released book by Samir Al-Nusiri, the economic and banking advisor to the Association of Iraqi Private Banks, was recently released in Baghdad, tagged (Our Economy and the Reform Movement 2015-2020).
It is a book that discusses economic and banking reform for years after the economic and security shocks and the global oil price drop after mid-2014 and during the Coronavirus crisis, for which a special chapter is devoted.
Once again, the economic and banking advisor, Samir Al-Nasiri, puts us in front of a new juice based on his experience, experience, and his relentless adaptation of the economic, financial and banking reality, in this book entitled (Our Economy and the Reform Movement 2015-2020).
The chapters of the book are characterized by the multiplicity of dimensions in which the author becomes jealous based on a holistic vision that aims to shape the economic reality on the basis of rules and constants that form the basis for the economic construction, and at the same time as a starting point for amendment, correction and reform to remove obstacles and obstacles, and to formulate consistent and integrated policies in order to achieve the desired goals.
Whereas fiscal and monetary policy are two basic pillars of the economy, the author deals with the two sides within the framework of the symbiosis of roles and policies, as well as the mutual effects between the two policies, which requires permanent coordination between them.
In keeping with the plans of the Central Bank and its strategy for the years (2016-2020), the author details the size of the initiatives and achievements made by the Central Bank of Iraq during the past years in achieving monetary and financial stability and in the institutional reconstruction of the bank to accommodate modern international developments, concepts and standards in all aspects of the bank.
The book deals with what enhances the role of the banking sector in advancing growth and progress by expanding the circle of financial inclusion, applying institutional governance and benefiting from technological progress in developing electronic payment methods.
The book that we have in our hands is a paper of ideas and visions, and it is a careful and careful reading of many phenomena and challenges, and provides solutions and treatments for them in a spirit of optimism, positivity, and a distinct patriotic feeling.
It should be noted that the book includes four chapters and 88 topics, with a number of 340 pages, and two documentary attachments.
The current book is the eighth of the author, and seven books have already been published, all of which discuss economic, financial and banking reform during the past six years, respectively:

(Economic implications in the Arab movement countries and the Iraqi experience in the applications of monetary policy) and (Reform of the banking sector in Iraq challenges and strategy reforms (F) Reforming the banking sector is the first step for economic reforms in Iraq. (F) The methodology of economic and banking reform in Iraq (and) The Central Bank of Iraq facing the challenges of the economic and financial crisis for the years (2015-2017) and (My vision for economic reform in Iraq) and (Light At the end of the tunnel - Economic and Banking Insights and Studies) and it was printed in two editions in Baghdad and Beirut by the Union of Arab Banks, and it is deposited and preserved in the Library and Archives in Baghdad.




https://economy-news.net/content.php?id=21916
No one is saying the project to delete the zeros doesn't exist. Your emphasis in thinking that it means something does tho.

https://www.dinardaily.net/t41408-deletion-of-the-zeros-has-been-given-the-green-light-and-may-take-2-years-to-do

https://www.dinardaily.net/t76218-central-the-cash-reserve-is-close-to-60-billion-dollars-and-are-reluctant-to-put-the-category-of-100-thousand



@claud39 wrote:When I read this, it is still the project to suppress the 3 zeros, and why they want to do that, when you trade with other countries, and that the actuaries of each country who work in economics, it was difficult to do the calculations among themselves, easier to do 1 for 1 in the calculations !!

It's not difficult, you are making that up. Countries do it every day. You have even said that you have to exchange when you buy in the US and bring things in to Canada. Why isn't the exchange rate the same for Canada and the US? LOL



@claud39 wrote:If they start reconstruction at the beginning of 2021, it will take a value to negotiate contracts between Iraq, and the other countries !!

They have been doing reconstruction for years, just slowly. There is no start date. LOL

Countries have already been going into Iraq to do business for years. You just refuse to see that.



@claud39 wrote:You see !! they have already made the new currency, and to make a change you have to go through the street system to be sure about the change of currency

The only "new" currency they have made is replacement currency and a new 50k note in 2015. https://cbi.iq/page/89

https://www.dinardaily.net/t76694-iraq-makes-a-change-in-the-design-of-one-of-his-coins-and-presents-them-as-large-quantities

They don't need to go through the street system to be sure about the change of currency, they just do it.

If your talking about your 1 to 1 currency, post a picture or an article! I double dog dare you!!!



@claud39 wrote:So if I understand correctly this is the closest scenario !! Do you think we are coming around 2021 ???

They are talking about devaluing the Dinar here.



Article wrote:Al-Nusayri puts before the government a comprehensive economic reform paper in his new book "Our Economy and the Reform Movement"

You do realize that Samir Al-Nusiri economic and banking advisor to the Association of Iraqi Private Banks, right?
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Post by RamblerNash on Thu Sep 24, 2020 5:01 am

@claud39 wrote:



[rtl]The Governor of the Central Bank is calling for a formal signature on the issued currency to be followed[/rtl]







9/22/2020





Opinion on the subject of dinars !! - Page 2 Story_img_5f69fadcb4002








[rtl][Baghdad-Where]
The Governor of the Central Bank of Iraq, Mustafa Ghaleb Makhaif, called on Tuesday to follow the context of the official signature on the issued currency.
[/rtl]

[rtl]A statement of the bank stated ,. "The Governor of the Central Bank of Iraq, Mustafa Ghaleb, is terrifying. Today, a meeting of the currency affairs committee in this bank was attended by all members."
Mukhaif stressed, "The importance of following the context of the official signature on the exported currency" and not using the signature with the name "that was previously approved by the committee in a previous meeting."
The statement explained: "The committee also discussed a number of issues and took a number of decisions that would contribute to raising and improving the level of currency management."
[/rtl]






The issue of the signature has been raised before. You posted an article on it 2 years ago:

https://www.dinardaily.net/t77950-parliament-discusses-3-paragraphs-with-the-governor-of-the-central-bank

Take note:


Al-Alak said during his meeting in the House of Representatives in its 13th session held today in the presence of 234 deputies that 'the central bank balanced between the financial options and managed despite the pressure and impossible goals to maintain the exchange rate of the dinar against other currencies, including the dollar'.

So as you can see, Iraq has an exchange rate through currency management.

Meetings like this take place everyday, and in all countries. Iraq is not special in this regard.
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Post by RamblerNash on Thu Sep 24, 2020 5:02 am

@claud39 wrote:
@RamblerNash wrote:Good Day Claud!

I'm sure that you didn't miss this article, but it came from an Iraqi economist and not Sam!

She has broken it down in easy to understand terms, and should translate perfectly for you!

~~~~~~~~~~

100 US dollars is equivalent to 100 Iraqi dinars .. Is it possible? An economic expert answers.

Opinion on the subject of dinars !! - Page 2 Scree633

September 17, 2020

Baghdad / Obelisk: The economic expert, Salam Sumaisem, said that the government is now obliged to reduce the value of the Iraqi dinar against the dollar in order to obtain greater quantities of Iraqi money against the dollar without printing more, and thus preserving the currency from collapse.

In an interview with the “obelisk”, Sumaisem said that in the pre-2003 era, the currency was printed without cover and in large quantities, and it was reduced without a balance. Today, it can be reduced with a balance, indicating that this reduction increases the amount of exports because it pays people They import from abroad to the demand for local goods, which will lead to a devaluation of the currency and the demand for it becomes more.

Several countries resorted to writing off zeros of their currency, with the aim of restoring some confidence in the national currency by trying to absorb inflation represented by high prices and the erosion of purchasing value.

Sumaisem indicated that the time is not appropriate to manipulate zeros or the currency because its value will change, and with regard to removing zeros, this requires monetary stability and that was decided during the era of Sinan al-Shabibi administration of the Central Bank.

The economic expert called for improving the status of the dinar so that every 100 dinars would be equal to 100,000 Iraqis, and thus raising the zeros so that every 100 dollars equal to 100 Iraqi dinars, and thus the dinar would be equal to the dollar.

But Sumaisem believes that raising the zeros is not possible at the present time, due to the monetary and economic crisis that Iraq suffers from.

And deleting zeros from the currency is the process of replacing the old currency with a new one whose price is less than the old currency by the number of zeros that will be deleted, for example deleting three zeros from the Iraqi currency means that one dinar from the new currency is equivalent to 1000 dinars from the old currency.

The Iraqi Minister of Finance proposed reducing the price of the Iraqi dinar as a measure to confront the financial crisis, as Sumaisem believes that this proposal will be the closest scenario .. and will prevent compromising the storage in the central bank.


Obelisk

LINK


https://www.dinardaily.net/t95218-100-us-dollars-is-equivalent-to-100-iraqi-dinars-is-it-possible-an-economic-expert-answers





This will be my only answer RamblerNash, didn't so much I saw this news, and even a lot more on the news from iraq than you can see in your day, I don't just watch a newspaper from the country, every days I read the news directly to the Iraqi government, and then I do a little tour of several newspapers in the country, lucky that you send the news, not really big research using practically only the following posts:
https: // economy-news.
https://ninanews.com


https://www.dinardaily.net/t95298-khalaf-the-financial-sector-is-required-to-support-the-energy-sector, and this news that I saw it yesterday, looks like you don't go no further in your research !!

At least try to put some good research so that the members of the forum understand the news that you publish !!

To give you a chance I will add a continuation of this news !!

To end it instead of trying to disgust me on the forum focus on the news, and put a little more meat in your news instead of sharing a good part of your news which are gurus !!

Good day to the member of the forum, I notice that it is pleasant to do other things than to persist in giving my opinion, and not to share the news, very boring for you members of the forum, but on the other side, my girlfriend is very happy, especially as I move forward in my business at home !!

Claud (moose)
Oh My!! You are going to tell me what to do and how to do it? LOL

It's not hard to see why you had issues at the other forum...
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Post by RamblerNash on Thu Sep 24, 2020 5:09 am

@claud39 wrote:I cannot understand that they are wasting time between the IMF and the Iraqi Government !!

Especially if I got on you RamblerNash !! considering that in your point of view they will have no chance of a return to the international market, and of having an exchange rate to trade with other countries !!

  The government should slow down to make the reforms, the aid for the economic side by the international one, that does not give anything, they will not return on the international one according to you !!

Okay now I'm going to go do my homework, as I have already watched a lot of government news on my side !!


Claud (Moose)


AL-KAZEMI: WE ARE READY TO OVERCOME THE OBSTACLES FACING THE WORK OF THE MONETARY FUND IN IRAQ







19 Aug 2020


Opinion on the subject of dinars !! - Page 2 441304_image_18




Washington-Al-Sharqiya, August 19: Iraqi Prime Minister Mustafa Al-Kazemi received at his residence in Washington the Director General of the International Monetary Fund, Kristalina Georgieva.

Al-Kazemi stressed during the meeting that Iraq is looking forward to working with the IMF to achieve economic reform and that the government is ready to overcome all obstacles facing the work of the International Monetary Fund in Iraq.

According to a statement by the Prime Minister's Office, the two sides discussed the possibility of concluding an agreement with the International Monetary Fund, to support the Iraqi economy and reduce its dependence on oil, by rehabilitating other sectors and making them compete with the oil sector in the way that can be achieved through Absorb unemployment in the country ... 


For its part, the Director General of the Monetary Fund confirmed its belief in partnership with Iraq, and the importance of standing with it from international economic institutions, whether it is the International Monetary Fund or the World Bank.




https://alsharqiya.com/ar/news/al-kazemi-we-are-ready-to-overcome-the-obstacles-facing-the-work-of-the-imf-in-iraq

@claud39 wrote:I cannot understand that they are wasting time between the IMF and the Iraqi Government !!
Brings us back to the currency exchange rate the IMF has, doesn't it?


@claud39 wrote:Especially if I got on you RamblerNash !! considering that in your point of view they will have no chance of a return to the international market, and of having an exchange rate to trade with other countries !!
Well, no. I didn't say that they wont seek trading with other countries. I've said they already have a currency exchange rate.



@claud39 wrote:The government should slow down to make the reforms, the aid for the economic side by the international one, that does not give anything, they will not return on the international one according to you !!
What international one? You are not making any sense here. You keep talking about "international" everywhere, but are not specific...
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Post by claud39 on Thu Sep 24, 2020 11:56 am

This will be my last RamblerNash comment, I see you don't want to or you decide what you don't want to fully understand, what I say:

You are only trying to ridicule me on the forum, and you don't know why I was crossed out on the other forum, then you are easy to judge, and to accuse the world !!

Why I was crossed out on the other forum, first the administrator was, and I precise was a friend !!

More and more the world was subscribing to the forum, like a bit like yours now, and that's my opinion but I see it the same image with your forum, and the other !!

By the way according to you !!

 Why do you have members who subscribe every day, do you know to follow your guru news that you share most of the time, or some news from 2 days that you would say you like, either: nina news, or good economy news.

Or whereas for 2 years, I apply on your forum by putting the news of the day by doing more research than you on Iraq, and that the world could like to really follow the reality of the country, and that they can do their own opinion without listening to the gurus !!

You know !! I was applying as much as I was applying on your forum, so much so that the world liked to come more and more to the other forum, WHY ????

Because I put the reality of the country, you know the real news, and besides the world was sickened to follow the gurus !!

Currently he had a former member who is also registered here on your forum !!

He could confirm it to you, currently I no longer see him here, and in addition he is the first one who wondered why I had energy on your forum !!

I come back with the other forum because I was postulating the truth, the world appreciated me more and more, in addition to seeing other things than the negative like here now !!

Since I am here, I think only ZIG thank me for what I was doing on your forum, and understood the work it took to bring you the news every day !!

But on the other side, the other forum, the world thanked me more and more and could form their own opinion on the dinars !!

 Whoever was my friend started to be jealous of my popularity on the forum, and what I also did in my life deprive them, they started looking for me to quietly insult me ​​on the forum, and they were also a fan of moose hunt, and this fall of 2018 I harvested a nice moose buck, and jealousy grew more and more, as they had other members who were deer hunters, and we congratulated us by sharing our photos on the forum.

He was so jealous that he called me a star on the forum, and in addition to my health problems, my mom tells me she has cancer, so I started to be direct with him, like him on the forum, but you know what !!

He is the administrator, and in a response my girlfriend replied to a post by herself, and he knows my girlfriend very well, and he didn't like her response, so what do we do !! We ban the guy much easier !!

Even other world of the forum, and even another administrator of the forum is banned by him because of jealousy !!

If jimplant comes back to his forum he will be able to confirm my comments !!

To answer your question when I speak of the international market, it is very easy to understand, that is to say everywhere on the planet !!

To answer for dinars 1 to 1 for the exchange rate, it looks like you are passing passages in my text, What I am saying from the beginning is a personal opinion, I repeat IT IS A PERSONAL OPINION !!!!

Whether the dinar is worth 1 dinar for 1 dollar, or the dinar is worth 1 dinar for 2 dollars, or the rumors are above 3 dollars for 1 dinars, I don't care !!!!

What I say, one day or the other they will have to have a value to trade with the planet (the international one) !!

Currently the government is doing what the UN, the IMF, the World Bank asks, and all the countries push on Iraq to finish the reforms, and the Monetary Fund want to help them to finalize the sector of the economy !!

Why ?? To realize the demand of the people who are sickened to be screwed by the old government which never kept their word, to compare this one is the new first which advances in the demands of the people.

So everyone who is responsible internationally, be the World Bank, the IMF, we immediately rush to help the new government to realize the demand of the people !!

So in my opinion !!! AND I SPECIFY THIS IS MY PERSONAL OPINION !!!
According to you !! It may be the right time for the reconstruction of the country for the beginning of 2021, and they said that to make a change of rate it must be done at the beginning of the year !!


This will be a good time to do all of this, what do you think ??

Good finish to persist with you !! Well disgusted to answer and justify myself to you, and I don't need you to follow the news of the country !!

Good luck to everyone on the forum, hoping your RamblerNash will tell you the truth about the country, and take advantage of its news, I will focus on other things than you !!


Claud (Moose)
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Post by RamblerNash on Sat Sep 26, 2020 10:09 am

@claud39 wrote:This will be my last RamblerNash comment, I see you don't want to or you decide what you don't want to fully understand, what I say:

You are only trying to ridicule me on the forum, and you don't know why I was crossed out on the other forum, then you are easy to judge, and to accuse the world !!

Why I was crossed out on the other forum, first the administrator was, and I precise was a friend !!

More and more the world was subscribing to the forum, like a bit like yours now, and that's my opinion but I see it the same image with your forum, and the other !!

By the way according to you !!

 Why do you have members who subscribe every day, do you know to follow your guru news that you share most of the time, or some news from 2 days that you would say you like, either: nina news, or good economy news.

Or whereas for 2 years, I apply on your forum by putting the news of the day by doing more research than you on Iraq, and that the world could like to really follow the reality of the country, and that they can do their own opinion without listening to the gurus !!

You know !! I was applying as much as I was applying on your forum, so much so that the world liked to come more and more to the other forum, WHY ????

Because I put the reality of the country, you know the real news, and besides the world was sickened to follow the gurus !!

Currently he had a former member who is also registered here on your forum !!

He could confirm it to you, currently I no longer see him here, and in addition he is the first one who wondered why I had energy on your forum !!

I come back with the other forum because I was postulating the truth, the world appreciated me more and more, in addition to seeing other things than the negative like here now !!

Since I am here, I think only ZIG thank me for what I was doing on your forum, and understood the work it took to bring you the news every day !!

But on the other side, the other forum, the world thanked me more and more and could form their own opinion on the dinars !!

 Whoever was my friend started to be jealous of my popularity on the forum, and what I also did in my life deprive them, they started looking for me to quietly insult me ​​on the forum, and they were also a fan of moose hunt, and this fall of 2018 I harvested a nice moose buck, and jealousy grew more and more, as they had other members who were deer hunters, and we congratulated us by sharing our photos on the forum.

He was so jealous that he called me a star on the forum, and in addition to my health problems, my mom tells me she has cancer, so I started to be direct with him, like him on the forum, but you know what !!

He is the administrator, and in a response my girlfriend replied to a post by herself, and he knows my girlfriend very well, and he didn't like her response, so what do we do !! We ban the guy much easier !!

Even other world of the forum, and even another administrator of the forum is banned by him because of jealousy !!

If jimplant comes back to his forum he will be able to confirm my comments !!

To answer your question when I speak of the international market, it is very easy to understand, that is to say everywhere on the planet !!

To answer for dinars 1 to 1 for the exchange rate, it looks like you are passing passages in my text, What I am saying from the beginning is a personal opinion, I repeat IT IS A PERSONAL OPINION !!!!

Whether the dinar is worth 1 dinar for 1 dollar, or the dinar is worth 1 dinar for 2 dollars, or the rumors are above 3 dollars for 1 dinars, I don't care !!!!

What I say, one day or the other they will have to have a value to trade with the planet (the international one) !!

Currently the government is doing what the UN, the IMF, the World Bank asks, and all the countries push on Iraq to finish the reforms, and the Monetary Fund want to help them to finalize the sector of the economy !!

Why ?? To realize the demand of the people who are sickened to be screwed by the old government which never kept their word, to compare this one is the new first which advances in the demands of the people.

So everyone who is responsible internationally, be the World Bank, the IMF, we immediately rush to help the new government to realize the demand of the people !!

So in my opinion !!! AND I SPECIFY THIS IS MY PERSONAL OPINION !!!
According to you !! It may be the right time for the reconstruction of the country for the beginning of 2021, and they said that to make a change of rate it must be done at the beginning of the year !!


This will be a good time to do all of this, what do you think ??

Good finish to persist with you !! Well disgusted to answer and justify myself to you, and I don't need you to follow the news of the country !!

Good luck to everyone on the forum, hoping your RamblerNash will tell you the truth about the country, and take advantage of its news, I will focus on other things than you !!


Claud (Moose)

@claud39 wrote:Whether the dinar is worth 1 dinar for 1 dollar, or the dinar is worth 1 dinar for 2 dollars, or the rumors are above 3 dollars for 1 dinars, I don't care !!!!

That's exactly what the Gurus are saying! For someone who says they don't follow the Gurus, you repeat them.

Asking for the premise in which you formed your opinion, followed by silence, or nonsensical articles, reconfirms.



@claud39 wrote:What I say, one day or the other they will have to have a value to trade with the planet (the international one) !!

What you are saying is that for the last 17 years, Iraq hasn't been able to buy and sell to other countries.



@claud39 wrote:So in my opinion !!! AND I SPECIFY THIS IS MY PERSONAL OPINION !!!
According to you !! It may be the right time for the reconstruction of the country for the beginning of 2021, and they said that to make a change of rate it must be done at the beginning of the year !!

And here is the point. Who are "they" that said there is going to be a rate change, and that it's going to be at the beginning of the year?
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Post by RamblerNash on Tue Sep 29, 2020 1:14 am

Rami Al-Skiny: The financial crisis cannot be addressed with a new crisis through internal and external borrowing
Opinion on the subject of dinars !! - Page 2 859575-7dac4014-bb71-4b25-bed5-313f062dc051
Tuesday 29, September 2020 07:46
 
Baghdad / NINA / Member of Parliament, Rami Al-Skini, a member of the House of Representatives from the Saeron Alliance, said that: Treating the current crisis with a new crisis is not correct in light of our financial and economic challenges.

He explained to the Iraqi National News Agency ( NINA ) that it is not correct to address the current crisis with another crisis through internal and external borrowing, indicating that Iraq is used to treating one crisis with another crisis, and this is not true.

Al-Skini added: that there is no clear fiscal and monetary policy with the government and the Ministry of Finance, and this is not true, and the evidence is what the Minister of Finance made clear when he said that Iraq is required to have 128 trillion dinars and needs 5 years for the return of the financial recovery.

And he expressed the hope that the finance would implement what it declared that salaries are insured by the end of the current year and that next year's budget will be more comfortable in salaries, bonuses and appointments. / End 3

https://ninanews.com/Website/News/Details?key=859575

https://www.dinardaily.net/t95414-rami-al-skiny-the-financial-crisis-cannot-be-addressed-with-a-new-crisis-through-internal-and-external-borrowing
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Post by RamblerNash on Wed Sep 30, 2020 9:18 am

Clarification about foreign reserves in the Central Bank of Iraq
 
 
June 25, 2020

Clarification about foreign reserves in the Central Bank of Iraq

The real financial surplus is what the government, represented by the Ministry of Finance, achieves in terms of revenues that exceed its public expenditures during a fiscal year. If the Ministry of Finance achieves revenues (sales of crude oil in general) at a value greater than its expenditures (investment spending and current spending), it will achieve a budget surplus, and it can be For the government to invest it, whether internally or externally, in the form of sovereign funds or investment funds, etc., and vice versa in the event that public revenues are less than expenditures and achieve a real deficit that requires financing it, whether by searching for additional revenues, enhancing existing revenues, or resorting to internal borrowing and / or Outer.

Here, it must be clarified that the foreign reserves maintained by the Central Bank are not surplus funds, but rather accumulate as a result of a certain mechanism according to which the Central Bank carries out what is called the monetization process, as the Ministry of Finance sells the bulk of its dollar revenues to the Central Bank in order to obtain the Iraqi dinar Issued by the Central Bank of Iraq to implement its domestic spending, and as long as the Central Bank of Iraq adopts a fixed rate for the exchange of the Iraqi dinar against the US dollar, and seeks through the window of selling the currency to maintain this fixed value of the dinar, so the holder of the Iraqi dinar has the right to foreign reserves which are a cover for the local currency .

It is possible to refer here to the concept of foreign reserves according to the Balance of Payments and International Investment Position Manual issued by the International Monetary Fund (they are the external assets at the disposal of the monetary authority and under its control to meet the needs of the financing balance of payments or to intervene in the exchange markets to affect the exchange rate of the currency, or other things. Related purposes (such as maintaining confidence in the local currency and forming a basis for external borrowing) Reserve assets must be foreign currency assets and assets that already exist, and potential assets are excluded from them. The concept of reserve assets is based on the concepts of “control” and “access to use.” Regarding the monetary authorities, and

based on the above definition of foreign reserves, the following can be installed:

1. They provide a cover for the local currency and a tool to support the exchange rate.

2. It is the primary tool for the central bank to intervene and correct imbalances in the balance of payments structure. 

3. It provides an important element in the country's creditworthiness status, and strengthens the country's credit rating in international transactions.

The optimum level of foreign reserves - that is, the minimum value of foreign reserves that the monetary authority must possess, which is calculated according to internationally approved standards - represents the ability of the monetary authority to defend the local currency exchange rate. The most important of these criteria (the money supply standard, which represents the adequacy of foreign reserves to cover the supply of local currency, and the trade standard, which represents the number of months in which foreign reserves can finance the country's imports of goods and services) and adopt these criteria assuming a shock that affects the accumulation of foreign reserves almost Complete.

With regard to the management of foreign reserves, there are internationally recognized rules adopted in the management of foreign reserves in terms of their being liquid assets (securities, deposits, gold ...) and envisaging geographical distribution, currency diversity and other factors that reduce exposure to risks and provide returns that ensure sustainability These reserves.

It should be noted here that for internal borrowing by the government, whether financed by the Central Bank of Iraq directly, any direct discount for the securities issued by the Ministry of Finance - which is prohibited by the Iraqi Central Bank Law - or indirectly through discount in favor of local commercial banks, for both. A negative impact on foreign reserves, if we assume that the government's priority is to finance that part of the spending represented by workers compensation, as this part is reflected in consumer spending, which is mainly met by imported goods and services, which in turn will generate a derivative demand for foreign currency and thus exit part Of foreign reserves to finance these imports, and this effect will continue until the date of maturity of the securities.

Whereas external borrowing will reflect positively on the accumulation of foreign reserves, as long as the Ministry of Finance monetizes it for the purpose of obtaining the local currency, and handing over the foreign currency to the central bank to be added to the foreign reserves.

https://cbi.iq/news/view/1507
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Post by RamblerNash on Thu Oct 01, 2020 5:19 am

Samir Al-Nasiri: The rational management of the Central Bank and the sound application of monetary policy achieved economic steadfastness


Opinion on the subject of dinars !! - Page 2 1126
Samir Al-Nasiri
 
09/07/2019
 

The Iraqi Council of Representatives and the political and economic circles are preparing to assess the implementation of the government of Prime Minister Adel Abdul Mahdi of its government approach. In the midst of the discussions taking place now, the above authorities are required not to separate between what was achieved during the past years and what was achieved during the year in which the government assumed responsibility and the bright spots achieved by some of our economic and financial institutions during the economic and security shocks suffered by Iraq and which the Central Bank of Iraq had a pioneering and fundamental role. In supporting the national economy and achieving economic resilience. In order not to overlook the rights of those who have assumed direct responsibility for facing these circumstances, difficulties and challenges, we visited the Iraqi Private Banks Association and met with an economic and banking figure who closely experienced in the capacity of observer, observer, analyst and neutrality the procedures, achievements and the exceptional efforts made by the Central Bank management in supporting the economy and achieving economic resilience.

The support provided by the Central Bank to the national economy during the economic and security shocks that Iraq suffered due to the economic and financial crisis and the war on terror is a bright spot and an honorable success experience in a country that is going through harsh conditions and a historical stage that is the most difficult in facing the economic and security challenges that no country has gone through. In the world, like what Iraq went through, as the administration of the Central Bank of Iraq, its team and its cadres have proven that they had a prominent role in strengthening economic steadfastness and moving steadily towards economic stability.


What are the steps taken by the central bank in designing its strategy?


Through wise and rational efforts and measures in the applications of monetary policy and the developmental policies of the Central Bank in the difficult economic stage of Iraq, they were able to draw up a strategy for the years (2016-2020) and a clear road map with goals and ambitions in achieving economic stability, stimulating economic growth, enhancing financial inclusion, structural and institutional construction, and optimal investment in Human capital through significant achievements that they made during the years (2015-2019) and are still continuing, the most prominent of which is: Maintaining inflation at a rate of no more than 2% and at a level of adequacy of foreign reserves within acceptable rates according to the latest aggregate standard ( IMF)(Provided by the International Monetary Fund 0% by more than 160%, which is considered a high sufficiency ratio internationally, as the foreign monetary reserves of Iraq amounted to 72 billion dollars until 6/30/2019, and to maintain the stability of the exchange rate and stimulate the banking sector in terms of regulation, supervision and control, and establishing new units within the organizational structures of banks. Such as compliance, combating money laundering, terrorist financing, managing credit and operational risks, issuing the money laundering law 39 of 2015, developing payment systems, applying all retail and mobile payments, establishing a national exchange, and working to apply international standards in financial reports in line with the principle of transparency and disclosure, in addition to the bank’s efforts. Daily in stimulating financial inclusion processes and focusing on the initiative to localize employee salaries for the purpose of raising the percentage of financial inclusion for the population who do not have accounts in the banking system, which has actually increased from 11% to 22%

According to the World Bank bulletin. The Central Bank also recently announced that it will start completing its investment banking projects for the years (2019-2023).


- What about the measures taken by the Central Bank for the purpose of restoring public confidence in the banking and financial sector in Iraq?


And the establishment of a national credit information center. And the Iraqi Payments Council and the Financial Inclusion Committee.


- What are the directions of the Central to develop its relationship with Arab and foreign financial institutions that have been marred by apathy due to the financial crisis that Iraq has gone through?


At the level of international banking relations, the Central Bank was able, with the exceptional efforts of the Governor and his team, to restore relations with Arab and foreign central banks and to convey the achievements made during the past years to the ruling international financial institutions such as the Financial Action Organization, which contributed to the transfer of Iraq’s classification from gray to regular follow-up and finally its exit From the area of ​​monitoring and follow-up to be able to achieve the requirements of international standards in adherence to compliance regulations and rules, combating money laundering and terrorist financing. The international credit entitlements and the praises of the World Bank, the International Monetary Fund and the Financial Action Task Force had a clear impact on strengthening economic resilience and financial victoryAnd walk confidently towards financial sustainability.

All the above successes make the Central Bank of Iraq and its work team deserve an impartial word of right to serve our national economy and our Iraqi banking sector.

https://economy-news.net/content.php?id=17675
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