Frank26 says -- There is no date. There is no rate. The rate is well calculated.

Frank26 


 ...this [AMF's BUNA] is solid evidence that they are coming out to the international world.  It's solid evidence they are Article 8...this has nothing to do with a program rate...this is a flow.  This is a movement.  This is a step-by-step progression.  There is no date.  There is no rate.  The rate is well calculated.  That's why we have the budget...be very aware of this tool.  It's for International status...


We believe this week you are going to start seeing articles once again about lifting the 3 zeros off the exchange rate...


 Historical.  Turns out Monday the 8th of February 2021 they can't use the American dollar anymore in their country.  The Marshal Plan 17 years ago brought the American dollar so they could have some currency of value to run their government and for the citizens.  We always said that was the goal, the dream come true - stop using the American dollar!  The auctions stopped yesterday [Monday]...I wish I had Thor's hammer so I could hit that hard and let it vibrate through your body.  The central bank's auctions stopped yesterday!  That's why you see all these international platforms saying "come on down and be part of us!"

There is no date or rate because there is no RV.  The dinar was devalued because of a drop in oil revenues which resulted in less USD flowing into the country.  How would raising the value of the dinar fix that?

A deputy narrates new details about Al-Kazemi's meeting with the parliament’s finances: This is what he said about Kurdish citizens


11/02/2021





Baghdad Today - Follow-up 

A member of the Finance Committee in Parliament, Jamal Cougar, revealed the details of the committee's meeting with Prime Minister Mustafa Al-Kazemi, while noting that the Prime Minister gave full freedom to amend the provisions of the budget

In a televised interview with (Baghdad Today), Jamal Cougar said, “Prime Minister Mustafa Al-Kazemi gave all freedom to the Finance Committee to make adjustments to the budget,” indicating that he “wanted to come and thanked the committee for its work while requesting the passage of the budget, while indicating that the texts The government is not sacred about budget clauses. "

Cougar added that Al-Kazemi spoke during the meeting about "the Kurdistan region, and he said that we will not leave our people in the region without salaries."


The Media Department of the House of Representatives announced, this week, that the Parliamentary Finance Committee discussed the 2021 budget in the presence of the Prime Minister, Mustafa Al-Kazemi, his 5 ministers, and the Secretary of the Council of Ministers.


Cougar continued, "The Financial Committee has exceeded the dollar price, as it is not one of its powers, but of the central bank's powers," indicating that "the committee discussed with the central bank the file of the dollar exchange rate, and he convinced us of his point of view."



A member of the Finance Committee in the House of Representatives pointed out that "if the government had continued with the issue of the budget without a step to devalue the currency, Iraq would have been in real bankruptcy after 6 months, after the government had two options, the bad and the worst, and the government chose the bad."


Since the Iraqi government devalued the local currency, the dinar against the dollar, there has been much talk about the benefits of reducing the exchange rate and its impact on the citizens and the Iraqi state, which is going through an unprecedented economic crisis, as a result of the repercussions of the decline in oil prices due to the Corona virus. While economists believe that the reduction of the value of the Iraqi dinar may be aimed primarily at reducing the leakage of foreign currency abroad, parliamentary statements indicated that the government's benefit from raising the exchange rate does not exceed 12 trillion Iraqi dinars annually


Since the collapse of oil prices earlier this year, Iraq is facing an unprecedented liquidity crisis, and the government of Prime Minister Mustafa Al-Kazemi has been forced to borrow from the reserves of the Central Bank to pay nearly $ 5 billion per month, representing public sector salaries and pensions.


The decision sparked a wave of anger in the Iraqi street, but Al-Kazemi defended his government's move and said that he had two options: "Either the collapse of the regime and enter into overwhelming chaos, or we enter into a Caesarean section for reform."



The decision sparked a wave of anger in the Iraqi street, but Al-Kazemi defended his government's move and said that he had two options: "Either the collapse of the regime and enter into overwhelming chaos, or we enter into a Caesarean section for reform."



https://baghdadtoday.news/ar/news/145356/%D9%86%D8%A7%D8%A6%D8%A8-%D9%8A%D9%83%D8%B4%D9%81-%D8%AA%D9%81%D8%A7%D8%B5%D9%8A%D9%84-%D8%AC%D8%AF%D9%8A%D8%AF%D8%A9-%D8%B9