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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

Many Topics Including The Oldest Dinar Community. Copyright © 2006-2020


KTFA Members "News and Views" Late Saturday Night 7-6-19

rocky
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KTFA Members "News and Views" Late Saturday Night 7-6-19 Empty KTFA Members "News and Views" Late Saturday Night 7-6-19

Post by rocky Sun 07 Jul 2019, 10:36 am

[size=24]KTFA Members "News and Views" Late Saturday Night 7-6-19

7/6/2019
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KTFA:

Don961:  The value of the currency on the expert table

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.

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?" 
Issues? ".
"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 National economy ".    link

*****************
MilitiaMan:  Todays article above is a little more in depth and speaks of 2019 reserves, short and long term debt.

Don't forget today they told us they increased the reserves by 14 billion and will again soon to 86 billion. They also remind us that they need the taxes, customs fees,  industrial and agricultural side of things to be in line.

By making the decision to reduce the Iraqi dinar (to raise the rate) and to reduce the auctions (which also needs a higher rate), they are mentioning the good it will do, as if you don't raise the rate the imports will ruin the purchasing power for the citizens, thus, the decision to reduce both Auctions and Iraqi Dinar was done or is to be done when the rate changes internationally.

Reduction from the low of 1190/1 down to 1/1 raises the value. The Dinar when reduced it gets more value. They readjusted contracts recently, so, they are going to need to get busy or they'll have to rewrite them again. imo Thus, all that said, we are looking good imo! ~ MM


Pete2001:  MM, can you please explain why there will be massive inflation if they don't raise the rate given that they are taking the auctions to once a week....I think that is what a lot of us don't appreciate or understand....and that would be very helpful and put to bed the doubt that this action is not profound for our investment   thanks  

MilitiaMan:  When they reduce the auctions, they'll run out of liquidity in foreign exchange for imports if they don't change the rate imo.

Black markets could start causing problems very fast. They know what they are doing and they are clearly doing what needs to be done, to avoid any issues that will arise.

Until they get a balance with reserve, internal industry, agricultural, taxes and customs in mind, they'll imo need a good solid rate to give purchase power to the citizens, so that they have the time to catch up with all of them over time.. imo. (I am not an economist, so this is only an opinion.). ~ MM


Samson:  Rafidain announces the salaries of some ministries through the Master Card

6th July, 2019

Rafidain Bank announced on Saturday the distribution of salaries of a number of ministries and state institutions through electronic payment tools

The bank's information office said in a statement read by "Economy News" that "the salaries of employees of some ministries and state institutions have been distributed from those whose salaries have been settled with the bank and card holders electronic master card

The statement added that "the bank continues to pay salaries according to specific contexts and dates    LINK

*****************

Samson:  Govt reports on Implementation of 2018-22 Programme

5th July, 2019

The Iraqi government has issued a report on the implementation of its 2018-2022 programme.

The report covers the period from October 2018, when the government came to office, to April 2019, providing an overview of what has been implemented from the government programme, identifying obstacles that may impede the completion of several projects, and outlining measures to address them.

Iraqi officials say that the report, the first of its kind to be issued by an Iraqi government, is an important measure to strengthen transparency and hold the government accountable before the Iraqi people and their parliamentary representatives.

Click here to download the report (Arabic only)


Samson:  Democratic: Budget law is not implemented so far and related to the receivables of the region

6th July, 2019

MP on the Kurdistan Democratic bloc, Deyaar Berwari, Saturday, July 6, 2019, that "there are 70 articles in the budget law is not implemented so far and part of them related to the receivables of the region as a result of differences in understanding the Constitution and the laws in force."

"The budget law is a set of paragraphs, including the obligation of the federal government to send salaries of regional staff and send a full budget with the commitment of the territorial government to send 250 thousand barrels, which is part of a general law."

He stressed the need to implement the budget law in general and not in a fragmented manner, pointing out that "there are 70 articles in the budget law is not implemented so far and part of them related to the receivables of the region."

He added, "There are high-level problem committees between the federal and regional governments of the Ministries of Planning and Finance and the General Secretariat of the Council of Ministers with the delegations of the region." "After the formation of the provincial government there will be delegations that have full powers to negotiate with the federal to implement the policy."   LINK
rocky
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KTFA Members "News and Views" Late Saturday Night 7-6-19 Empty MilitiaMan and KTFA Members Saturday PM 7-6-19

Post by rocky Sun 07 Jul 2019, 10:37 am

[size=24]MilitiaMan and KTFA Members Saturday PM 7-6-19

7/6/2019
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KTFA:

German Ambassador: Siemens will sign next week the first phase with Iraq

Prime Minister Adel Abdul-Mahdi announced on Tuesday (April 30, 2019) the signing of four agreements with Siemens, a German company, worth 14 billion dollars.   LINK

MilitiaMan:  What does this have in common? 14 Billion things that will stabilize the exchange rate... lol !~ MM 
 
Samson:   Central Bank's safe investment policies have boosted confidence in the Iraqi economy

6th July, 2019 by Samir Nusairi

A source at the central bank said foreign reserves amounted to $ 72 billion, and would rise to $ 86 billion when the Ministry of Finance takes advantage of the rise in oil prices and the payment of $ 14 billion to the central bank, which represent the sad transfers that the central bank during the period of financial crisis suffered Including Iraq, which constituted direct support to the State Treasury and the national economy in the near future when the country was unable to pay the salaries of state employees at the time of the Minister of Finance at the time
....



Which has had a significant impact in achieving economic steadfastness and thus financial victory in complex circumstances

That the observer and specialist is well aware that access to this rate of foreign reserves is the Central Bank to follow the safe investment policies, which strengthened the international credit position and restore confidence in the Iraqi economy and international banking relations

Underscoring the safety and success of the Bank's strategy for the years (2016 - 2020 ) achieved .ho achievements in financing activity and activate the initiative to finance small and medium enterprises and raise the ceiling on loans to one billion dinars for each project within the objectives of the initiative in activating the economic cycle and support the implementation of the objectives of the government curriculum in the fourth axis ( Strengthening the economy) to achieve the goal of development banks as the goal of development

In addition to this, the Bank is working on direct Islamic financing for public and private banks.  In addition, the expansion of the implementation of community initiatives from the Tamkeen Fund is an effective national experience in integrating the banking sector with society and achieving the goal of social, economic and humanitarian banks. Babylonian monuments on the World Heritage List

The clear evidence that can never be covered is the continuation and maintenance of the exchange rate stability over two years and maintaining the inflation rate of less than 2%.

Thus, the Central Bank has been able to achieve its objectives in its Law No. 56 of 2004, On the stability of the exchange rate. And is now vigorously and effectively pursuing the objectives of strengthening the economy and banks for development     LINK


Suzie:  I'm not seeing anything that's getting me too excited,   we were excited in June, then the end of June, then July 4th, now looking towards the 14-15th it seems.  Also I did not catch anything in Trumps' speech, subliminal or otherwise that referenced anything towards Iraq in a monetary way at all.  Let's hope Frank and the sources have something further for us Monday

MilitiaMan:  there is far more that I am excited about and for very good reason.. imo Here are a few of them that clearly suggest they are raising the value of the IQD and not next year. They would implode from in flation. They are quitting the auctions thus, they have to raise the rate and pronto. Very clear and concise.. imo.  ~ MM

"The participants discussed the problem of changing the value of the Iraqi currency and thereduction of the Iraqi dinar and its impact on the Iraqi economy, some describe this reduction as support for the global economy and some see the deterioration of the purchasing power of the Iraqi individual."

"In conclusion, there were comments from the audience and views and proposals on the decision to reduce the Iraqi dinar.  The seminar was attended by Dr. Ihsan Al-Amin, Chairman of the Board of Trustees of Bayt Al-Hikma and a number of prominent personalities in the banking and financial field and a number of academics. "

****************

Samson:  Deposit of intermediary companies

To / All Authorized Banks ( Deposit of brokerage companies to enter the window of sale and
purchase  of foreign currency

We affirm our pledge No. (190/5/9) in 2019/5/12 to the necessity of
only one deposit a week

by companies mediating the sale and purchase of foreign currencies for the
purpose of buying the dollar from the window of buying and selling foreign currency

https://cbi.iq/news/view/1171


Hengist:  With all due respect to your thorough and lucid analyses, there have been so many ‘have to’, ‘must’, ‘can’t not’ proclamations by others that I place the change in the auctions in the same category..,,, 
 
MilitiaMan: 
 Thank you for the kind words. Let me get this straight if I may.

A change to auctions and the Iraqi Dinar is forthcoming per the CBI. So, with a reduction in the auctions that will have a profound effect on an end result being massive inflation to come if there is no rate increase at this stage of the process is put in category of dismissal?

That is if it is not addressed accordingly and timely, it may be devastating to the economy, is to be put in a category of effectively being that we have heard this or that before and so many times it is meaningless? Is that right?

As at this stage. I don't think we have ever been in such a good place as we see now from what they CBI is telling us.

They clearly state the positive effects of the reduction in the Iraqi Dinar is to be good for the global economy. They are telling us imo they have to raise the rate and in fact they go so far to state they made the decision to do so already.

By doing a reduction in Iraqi Dinar (raising the value)  they have to stop the auctions as we know them. That is flat out pressure, if not mainly saying get ready we have to now raise the rate internationally, as we decided to reduce the auctions to once a week by reducing the Iraqi Dinar.

The CBI is talking powerfully with what they are saying. So, if one can't get excited from that, then put this study to bed and wait to see it on main stream TV.. lol - imo ~ MM

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