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Economist: the value of the dinar in decline



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Economist: the value of the dinar in decline

Post by dizzydee on Tue 29 Jan 2013, 9:30 pm

The time on Tuesday, December 29 2 / January 2013 16:26

Baghdad / Orr News

Iraqi economic expert said that the current monetary policy pursued by the Central Bank of Iraq has led to a reduction in the value of the Iraqi dinar against the dollar, compared to what it was before the issuance of an arrest warrant former central bank governor Sinan al-Shabibi.

And between economic expert who declined to be named, said Iraqi dinar exchange rate before fabricating a crisis the Central Bank arrived in price below its current price, stressing that the bank was unable to maintain the value of its price old despite raising dollar sales even arrived last Sunday to about $ 220 million , compared with sales ranging between 175 - 200 million dollars before the decision to change Shabibi.

And linking Iraqi expert among central bank sales and the amount of funds needed by the State to cover its operating budget from the salaries and financial obligations, and said that Iraq was able raise the value of the Iraqi dinar exchange rate 1187 dinars to the dollar if they are not to interfere in the management of the value of the Iraqi currency, but the government policy blundering and is an expert approved by the Iraqi market mainly on imports from abroad prevented raise the value of the Iraqi currency, especially if the dinar remained stalled at the rate of 1230 dinars to the dollar, he said, adding that this rise cost the Iraqi economy huge losses worth hundreds of millions of dollars a year.

He wondered economic expert about why fabricating crisis Shabibi, who was accused of corruption, while continue the central bank to follow the policies in the sale of foreign currency?, Expected to have the central bank to raise the value of the supply of the dollar against the continuing decline in the value of the Iraqi dinar in the case of the government's refusal to heed the wise management dinar exchange rate in the near term and medium term.

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Re: Economist: the value of the dinar in decline

Post by CITEX on Wed 30 Jan 2013, 9:24 am

Good, The lower the Dinar gets the more they can buy back out of circulation.

Getting It Investor
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Re: Economist: the value of the dinar in decline

Post by just_al on Wed 30 Jan 2013, 12:01 pm

Well when the price is right they can have mine but not untill![b]

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Re: Economist: the value of the dinar in decline

Post by onecinful1 on Wed 30 Jan 2013, 8:07 pm

got to love economists,,, maybe if the did their research, they would know that the program rate is 1170 and has been there since 2010,,, same program rate(1170) in march 2011,,,,, and the most recent address to the program note,,, "The combined third and fourth reviews have been delayed owing to limited progress in restructuring the state-owned banks and the emergence of distortions in the foreign currency markets that have led to the widening of the spread between the official and market exchange rates. IMF staff is working closely with the Iraqi authorities to address these issues and push forward the program agenda.",,, and people like this they call "economists" TFF,,, just for the investors taking notes,,, theres 6 reviews in the 3.6 billion dollar loan to Iraq, 3rd review was due Feb. 2012, extended to July 2012 extended to feb 23rd 2013. The Executive Board of the International Monetary Fund (IMF) approved on July 20, 2012—on a lapse-of-time basis1—a seven-month extension of Iraq’s Stand-By Arrangement (SBA), to February 23, 2013,,,, hopefully this "economist" gets paid by "running " his mouth instead of his economic views or he'll go broke,, especially when its right in front of him with a little "reading"!!!!! lol


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Re: Economist: the value of the dinar in decline

Post by Neno on Wed 30 Jan 2013, 10:07 pm

Maybe we should post these economist theories in the KOOLAID.. ;)

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