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DELTA: 8 | Currency and Price Stability
The government’s monetary policy since 2003 has focused on maintaining price
stability and exchange rate predictability.
The inflation has remained in the low since 2010. According to the CBI, the inflation rate is 1.4% (2015 estimates), while the World Bank estimates 2015 at -1.2%, and the country’s international reserve volume also has decreased due to the sharp decline in oil prices.
The independence of the CBI suffered a setback in January 2011 when former Prime Minister al-Maliki won a court ruling that placed independent institutions, including the CBI, under the control of the cabinet.
In January 2012, the CBI raised the exchange rate of the Iraqi dinar to $1.19, causing a huge crisis that led the Supreme Judicial Council to issue an arrest warrant for CBI governor Sinan al-Shabibi in October 2012 on charges of corruption.
Al-Shabibi received a seven-year prison sentence in absentia 2014, shortly before being acquitted of all charges.
The difference between the official and parallel exchange increased from three percent in 2015 to nine percent in May 2016. The CBI introduced a number of policies to keep inflation low.
The dinar remained widely stable and was worth $1.71 in early 2017
2012 IQD WORTH $1.19
2017 IQD WORTH $1.71
2019 IQD WORTH ???
Edna: Sounds good Delta. ..I don't see a Date for this article...Am I missing it?
Jjonesmx: It's a report; not an article, last published, 2018...
The project analyzes transformation processes toward democracy and a market economy in international comparison.
Updated every two years, the Transformation Index BTI provides a ranking that combines qualitative, in-depth evaluations with quantitative scores for the performance of 129 developing and transition countries.
The BTI measures the current state of democracy and market economy in a given country, its evolution over the past two years and the quality of governance performed by its leadership. The data collected will contribute to the development of strategy recommendations for the political management of transformation.
JJonesmx: I have original LINK with info in full context here in my files
Read all of it (BELOW) with other years in full *JJ*
DELTA: THANK YOU JJ...
MilitiaMan: With the FML Amendment being passed on or around May 22 of this month tells me that they have a time clock on things now per the Constitution requirements. The President is to or has signed the law. Even if he doesn't it becomes law imo within 15 days or at that mark regardless if he signed it. Then off to the gazette it goes which is understood to be about 3-4 days. Thus, they have it geared to finish up in June, imo. The amendment has the data needed for the new currency and the 2020 budget with that new currency in mind imo.. Care to chime in on that Delta? Sound about right or do I have something out of line? Thanks ~ MM
DELTA: YOU ARE RIGHT MY BROTHER..(thumbs up)
Iobey777: Wow!!! DELTA!!! Is this telling us that the "in country" rate for the dinar was $1.71 in 2017? We have seen pics of citizens at the malls wearing jewelry,fancy clothes, watches, buying cars and houses,etc...No wonder they are wanting their rate to increase!! IMO, this is VERY promising for us and the citizens!!!
DocMagee: Delta, so this is saying that IF the dinar was international, the rate would be somewhere in the $1.71 to $2+?
DELTA: IN 2017 WAS WORTH 1.71 BUT NOW IT SHOULD BE WORTH AT LEAST IN A MID 2 RANGE... BUT WE DON'T KNOW WHAT THEY WILL DO UNTIL CBI POST THE NEW RATE..
Godlover: Ok, please explain
DELTA: WE KNOW SHABIBI SAID IN THE PAST THAT THE GOAL IS TO MAKE THE IQD LIKE IT USED TO BE IN 70-80 ..AROUND $2.85
BUT AGAIN WE DON'T KNOW IF THE PLAN STILL THE SAME ...
DELTA: In cooperation with the Central Bank of Iraq, the Central Bureau of Statistics is seeking to implement the survey of financial transfer and banking facilities in Iraq
In cooperation with the Central Bank of Iraq, the Central Bureau of Statistics is seeking to implement the survey of financial transfer and banking facilities in Iraq
The Directorate of Trade Statistics, one of the technical departments of the Central Statistical Organization, held a three-day training course at the Central Euphrates Training Center to explain the mechanism of implementing the survey of the financial and banking transfer facilities in Iraq for the year 2019, which aims at providing data on this activity.
The field of financial intermediation to meet the requirements of national accounts and the Central Bank of Iraq and the beneficiaries of this data. Mr. Abbas Fadil, Director of Trade Statistics, said that the results of this survey contribute to improving the situation of the banking sector and its development in Iraq, which will provide data on revenues, expenditures and fixed assets that contribute to the calculation of gross domestic product and the formation of capital for banking and transfer activities.
For her part, Ms. Nada Ahmed Amin, Assistant Director of Trade Statistics, explained that the implementation of this survey comes as a result of the spread of this profession, which is due to the private sector taking the foreign and internal transfers, after being confined to the Central Bank of Iraq.
MilitiaMan: Wow... They are going public (private) and global. The money is going international.. Wow~ This is huge.. imo! Thanks Delta!! After being confined. That means they are no longer!! Wow ~ MM
MilitiaMan: From Delta yesterday: "The Iraqi Central Bank is preparing to open up to the world"
MilitiaMan: They are now not confined. They are opening up to the world just as they said they would. The Private Sector is now going to drive capital formation. Exactly why they have been talking about the citizens and there savings.
The private sector doing internal and foreign transfers of money is an international thing. That has requirements and rules to follow Sure looks like more sings of article 8.. This article is another one that was told days ago that they were to do exactly what they are doing.
The CBI told us they were to expand the exchange rate and the gold database. Now this one is telling us they are doing things with transfers.. Gotta love the timing. imo ~ MM