The value of the currency on the expert table

by **Rocky** Sun 07 Jul 2019, 10:32 am

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Post n°1

The value of the currency on the expert table

by Rocky Sun 07 Jul 2019, 10:32 am

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Sunday 07 July 2019

Baghdad / Hussein Thugb

The importance of the Iraqi currency and its impact on the Iraqi economy in light of the current changes The Department of Economic Studies in Beit al-Hikma held a scientific symposium entitled (Change the value of the Iraqi currency .. benefits and costs) with the participation of financial and economic experts in the public and private sectors.

The symposium was moderated by Dr. Falah Hassan Thwaini, supervisor of economic studies at Bayt al-Hikma last weekend, with the participation of the financial adviser to Prime Minister Dr. Muthahra Mohammad Saleh, as well as Professor Dr. Mahmoud Mohammad Dagher, Director of the Department of Financial Operations and Debt Management of the Central Bank of Iraq.

The participants dealt with the reality of changing the value of the Iraqi currency and the reduction of the Iraqi dinar, and its impact on the Iraqi economy, some describe this reduction as a support for the global economy and some see the deterioration of the purchasing power of the Iraqi individual.

[size=18]New policies

Dr. Mohammed Saleh spoke about the policy of the Central Bank since its establishment so far in a concise and clear way as the bank's goal is to manage the monetary expectations and how Iraq's oil revenues from 2003 to 2014 are improving continuously.

He pointed to "the role of Iraq and the agreements signed with the International Monetary Fund and its impact on the Iraqi economy," and the importance of the need for new policies are consistent with the policy of the Central Bank to reach solutions.

Cash balances

Dr. Mahmoud Mohammed Dagher discussed the current exchange rate regime for two years in Iraq and mentioned facts about the Iraqi economy for 2019.

The decision to devalue the Iraqi currency is effective in all the monetary and real balances of the Iraqi economy, because one of the causes of inflation, which ignites expectations and pressures towards the continuation of its decisions subsequent reductions.

Then he talked about reserves since 2019 to today, and then the exchange rate has been stable for more than a year.

"The actual external debt is 24 billion dollars, and the annual short debt is between 1.5 and 2 billion dollars," he said.

Tax reality

Dagher warned that "the decision to reduce the currency risk, because it affects all balances," and then go to the tax and customs fact down to inflation levels.

"Monetary action needs a positive change in the industrial and agricultural sectors, especially as we are financially weak

economically".

Dagher concluded that "the value of the currency raises inflation and here is the main benefit of the dollar campaign."

Economic sectors

The Academy d. Said that "some of the experiences were temporarily reduced to overcome a crisis and then returned, do we have the potential to adopt such a way?"
Procedure?".
"The need for multilateralism in building economic and productive sectors in particular, as well as the activation of other agricultural policies
Industrial ".

Global experiences

"The financial sector is the cornerstone of the stage of economic development sought by the country, and the introduction of such an important subject before financial experts is the need to come out with effective treatment, and can
Taking advantage of global experiences in this direction, to find out the merits of the subject and to know the actual benefit of the economy
the National".

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by **Proven** Sun 07 Jul 2019, 1:20 pm

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Post n°2

Re: The value of the currency on the expert table

by Proven Sun 07 Jul 2019, 1:20 pm

Thanks Rocky.

Here is the most telling statement:

Dagher concluded that "the value of the currency raises inflation and here is the main benefit of the dollar campaign."

The dollar campaign is the currency auction. The IMF wants the currency auctions to end. Thus, Dagher is implying that the ending of the currency auction will cause inflation. Inflation leads to the devaluation of the currency (dinar).

With this understanding the next statement makes sense:

The decision to devalue the Iraqi currency is effective in all the monetary and real balances of the Iraqi economy, because one of the causes of inflation, which ignites expectations and pressures towards the continuation of its decisions subsequent reductions.

In light of the above, the following is being announced:

New policies

Dr. Mohammed Saleh spoke about the policy of the Central Bank since its establishment so far in a concise and clear way as the bank's goal is to manage the monetary expectations and how Iraq's oil revenues from 2003 to 2014 are improving continuously.

He pointed to "the role of Iraq and the agreements signed with the International Monetary Fund and its impact on the Iraqi economy," and the importance of the need for new policies are consistent with the policy of the Central Bank to reach solutions.

All the talk of a budget deficit and then he makes this bold statement:

"The actual external debt is 24 billion dollars, and the annual short debt is between 1.5 and 2 billion dollars," he said

I was curious about the following statement:

Dagher warned that "the decision to reduce the currency risk, because it affects all balances," and then go to the tax and customs fact down to inflation levels.

Here is an explanation of currency risk:

What is Currency Risk?

Currency risk, or exchange rate risk, refers to the exposure faced by [You must be registered and logged in to see this link.] or companies that operate across different countries, in regard to unpredictable gains or losses due to changes in the value of one currency in relation to another currency.

[You must be registered and logged in to see this link.]

The relationship of the dinar to the dollar fits the definition of currency risk. Dagher is saying that reducing currency risk affects taxes, customs (imports/exports) and inflation.

How is currency risk reduced? Adjusting supply and demand of the currencies. Or adjusting the exchange rate between them.

Dagher goes on to say:

"Monetary action needs a positive change in the industrial and agricultural sectors, especially as we are financially weak"

As to when?

The financial sector is the cornerstone of the stage of economic development sought by the country

The beginning of the article tells it all:

a scientific symposium entitled (Change the value of the Iraqi currency .. benefits and costs) with the participation of financial and economic experts in the public and private sectors.

Public discussion....

by Lobo Sun 07 Jul 2019, 2:02 pm

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Post n°3

Re: The value of the currency on the expert table

by Lobo Sun 07 Jul 2019, 2:02 pm

Thanks Rocky and Proven, so at the end it states -

"Monetary action needs a positive change in the industrial and agricultural sectors, especially as we are financially weak"

IMO, the dinar can't go any lower ONLY HIGHER - keep praying

by **Rocky** Sun 07 Jul 2019, 2:33 pm

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Post n°4

Re: The value of the currency on the expert table

by Rocky Sun 07 Jul 2019, 2:33 pm

thanks Proven,Lobo for all u do

by **Proven** Mon 08 Jul 2019, 6:02 am

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Post n°5

Re: The value of the currency on the expert table

by Proven Mon 08 Jul 2019, 6:02 am

Here are some recent articles:

The Prime Minister for Economic Affairs and Finance Minister Fouad Hussein on Monday, the government adopted a new policy in the revitalization of the economy and diversification of sources of income.
"The latter met on the sidelines of the World Bank meetings in Washington with the Deputy Managing Director of the International Monetary Fund (IMF), Mitsuhiro Furosawa, and invited him to visit Iraq and open a fund office to promote joint cooperation," a statement from Fouad Hussein's office said.

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"The committee will move during the current legislative term to change the fiscal and monetary policy in the country in general," Saadawi said in a statement exclusive to the newspaper / Al-Sabah and the official / Al-Madar said that "the committee is meeting with officials of the Central Bank to discuss this change during Next stage '. [/rtl]

[rtl]He added that 'the financial Parliament is keen to enact the law of financial administration as it gives a complete road map of the financial policy in the country in terms of management of money and cash in the state', indicating that 'the change will raise the exchange rate of the Iraqi dinar against foreign currencies while maintaining the stability of inflation in the country '. [/rtl]

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by **wciappetta** Mon 08 Jul 2019, 8:59 am

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Post n°6

Re: The value of the currency on the expert table

by wciappetta Mon 08 Jul 2019, 8:59 am

Proven wrote:Thanks Rocky.

Here is the most telling statement:

Dagher concluded that "the value of the currency raises inflation and here is the main benefit of the dollar campaign."

The dollar campaign is the currency auction. The IMF wants the currency auctions to end. Thus, Dagher is implying that the ending of the currency auction will cause inflation. Inflation leads to the devaluation of the currency (dinar).

With this understanding the next statement makes sense:

The decision to devalue the Iraqi currency [ End Auctions] is effective in all [affects all] the monetary and real balances of the Iraqi economy, because one of the causes of inflation, which ignites expectations and pressures towards the continuation of its decisions subsequent reductions.

In light of the above, the following is being announced:

New policies

Dr. Mohammed Saleh spoke about the policy of the Central Bank since its establishment so far in a concise and clear way as the bank's goal is to manage the monetary expectations and how Iraq's oil revenues from 2003 to 2014 are improving continuously.

He pointed to "the role of Iraq and the agreements signed with the International Monetary Fund and its impact on the Iraqi economy," and the importance of the need for new policies are consistent with the policy of the Central Bank to reach solutions.

All the talk of a budget deficit and then he makes this bold statement:

"The actual external debt is 24 billion dollars, and the annual short debt is between 1.5 and 2 billion dollars," he said

I was curious about the following statement:
Dagher warned that "the decision to reduce the currency risk, because it affects all balances," and then go to the tax and customs fact down to inflation levels.
Here is an explanation of currency risk:

What is Currency Risk?

Currency risk, or exchange rate risk, refers to the exposure faced by [You must be registered and logged in to see this link.] or companies that operate across different countries, in regard to unpredictable gains or losses due to changes in the value of one currency in relation to another currency.
[You must be registered and logged in to see this link.]
The relationship of the dinar to the dollar fits the definition of currency risk. Dagher is saying that reducing currency risk affects taxes, customs (imports/exports) and inflation.

How is currency risk reduced? Adjusting supply and demand of the currencies. Or adjusting the exchange rate between them.

Dagher goes on to say:

"Monetary action needs a positive change in the industrial and agricultural sectors, especially as we are financially weak"
As to when?
The financial sector is the cornerstone of the stage of economic development sought by the country
The beginning of the article tells it all:
a scientific symposium entitled (Change the value of the Iraqi currency .. benefits and costs) with the participation of financial and economic experts in the public and private sectors.
Public discussion....

Very good explanation even down to the timing, it will precede reconstruction, which is on the forefront...Security Council said complete your government, we are down to one minister. We have seen the nomination of a new and very qualified CBI gov. both can happen even this week. I expect this to all fall like dominoes now. The closer we get the harder it is for those in power to disguise the revalues eventual reality. Nice job Proven. BTW I added two quotes in red which I believe enhances an already great explanation.

_________________

Even to your old age, I will be the same and I will bear you up when you turn gray.

I have made you, and I will carry you; I will sustain you and deliver you. -Isaiah 46:4