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Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

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Established in 2006 as a Community of Reality

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    Al-Alaq complains to the Ministerial Council for the Economy about 3 factors that are working to des

    Rocky
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    economy - Al-Alaq complains to the Ministerial Council for the Economy about 3 factors that are working to des Empty Al-Alaq complains to the Ministerial Council for the Economy about 3 factors that are working to des

    Post by Rocky Tue 17 Oct 2023, 5:31 am

    Al-Alaq complains to the Ministerial Council for the Economy about 3 factors that are working to destabilize the dollar exchange rate
    • Time: 2023/10/16 22:54:41
       
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    {Economic: Al-Furat News} The Governor of the Central Bank of Iraq, Ali Al-Alaq, complained to the Ministerial Council for the Economy of 3 factors that are working to destabilize the dollar exchange rate.
    A useful summary of important news can be found on the Al-Furat News channel on Telegram. [You must be registered and logged in to see this link.]
    A statement by the council, a copy of which {Al-Furat News} received, stated: “This came during the chairmanship of the Deputy Prime Minister and Minister of Foreign Affairs, Fouad Hussein, today, Monday, the thirty-first session of the Ministerial Council for the Economy, in the presence of the Deputy Prime Minister, the Minister of Planning, the Ministers of Finance, Labor, and Social Affairs, and the Secretary-General of the Council.” Ministers, the Governor of the Central Bank, the Undersecretary of the Ministry of Oil, the Vice President of the National Investment Authority, the Chairman of the Securities Commission, and the Prime Minister’s advisors for economic and legal affairs.”
    He added, "The Council hosted the Chairman of the Parliamentary Finance Committee and a number of committee members to discuss the dollar exchange rates in Iraqi markets. The Governor of the Central Bank, Ali Al-Alaq, also provided a detailed explanation of the tasks and objectives of the Central Bank and monetary policy in Iraq."
    Al-Alaq pointed out that “the exchange rate depends mainly on imports and not on local production, and that the exchange rate in Iraq has peculiarities due to its connection to the price of oil, as it is the largest source of providing hard currency,” indicating that “many factors affect the exchange rate, the most important of which is the leakage of the dollar to neighboring countries and dealing with Internal access to local markets in a currency other than the national currency, as well as the lack of complete control over ports and smuggling.”
    He added, "The level of inflation has decreased significantly, and the goods that enter officially are witnessing price stability because imports are covered by the official price. He pointed out that a special hall was opened for private banks to sell dollars to travelers at Baghdad International Airport, and we raised the interest rate for amounts deposited in banks to 7.5 percent." To encourage citizens to deposit their sums in banks and to withdraw cash from banks.”
    After objective and serious discussions, Fouad Hussein indicated, “The Council will study in detail this important issue and will follow up on the localization of salaries for all workers in the government sector and then the mixed sector up to the private sector. We will study increasing the interest rate on deposits, adding that we look forward to building future basic tools that will help the Central Bank.” And the Ministry of Finance will take their role in a way that is appropriate to the nature of its work.”
    The statement continued, "The Council also decided to proceed with the establishment of a project to demolish and build a 600-bed Ibn Sina Specialized Hospital in Nineveh Governorate to serve the people of that dear governorate."
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