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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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Economist: The dollar exchange rate will not be affected by the decline in oil prices

rocky
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Economist: The dollar exchange rate will not be affected by the decline in oil prices Empty Economist: The dollar exchange rate will not be affected by the decline in oil prices

Post by rocky Wed Mar 11, 2020 2:37 am


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[size=28]National Interest: Three serious crises threaten the Iraqi economy


17:33 - 10/03/2020



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Information / translation ...
A report of the National Interest newspaper confirmed that the drop in world oil prices in 2020 has put [You must be registered and logged in to see this link.] in the eye of the perfect storm, as this year is expected to be the most difficult for the country since 2003.
The report, which was translated by the information agency, stated that “ [You must be registered and logged in to see this link.] suffers from three major suffocating crises: the constitutional crisis represented in the failure so far to find consensus on forming the government and choosing the prime minister, and the second crisis is the Corona virus attack and its economic consequences on the country. The third crisis is the decline in global oil prices and its devastating impact on the country's economy.
He added that "with regard to the constitutional crisis, the widespread popular protests came in response to the growing public concern about corruption and inefficiency in the Iraqi government, and that parliament is sufficient to bring about change because of the disruption of the Iraqi electoral system."
He continued that "the second crisis related to the Corona virus, the state of corruption and incompetence of the government is likely to always hinder [You must be registered and logged in to see this link.] response to the Corona virus. The " [You must be registered and logged in to see this link.] Oil" website has addressed the problems of the Corona virus in important oil industry in [You must be registered and logged in to see this link.] , such as the rotation of staff in the main oil fields, the impact of logistics and the distribution of basic commodities. But the potential economic problems of Iraq are getting deeper, as Iraqis also face a choice between preventing the Corona virus and lowering the revenue from visits at sacred thresholds that can affect everyone from large investors in luxury hotels to restaurant owners, souvenir parks, taxi and bus drivers, and even Beggars. ”
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He continued that “the current crisis of the collapse of oil prices can have a direct impact on the Baghdad budget is enormous. More than 40 percent of Iraqis were born after the 2003 war, and about a third of them were born after Operation Desert Storm and while the population of [You must be registered and logged in to see this link.] about 24 million when the president announced George W. Bush that the American mission has been accomplished, but by 2030 the population of the country will exceed 50 million, and given the massive political, economic and social transformation in [You must be registered and logged in to see this link.] , it is time to re-engage economically and diplomatically to help [You must be registered and logged in to see this link.] reform its political and economic system to achieve stability. The boom and prosperity that the new generation of Iraqis deserves. ” Ended / 25 z09:15 - 11/03/2020
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The economic expert, Saleh Al-Hamash, confirmed on Wednesday that the exchange rate of the dollar in the Iraqi local market will not be affected at the present time due to the drop in oil prices, pointing out that the effect will be clear if the decline in oil prices continues for a year from today.
Al-Hamash said in a statement to the "information", that "currency prices are affected by the total output of the country, but in [You must be registered and logged in to see this link.] the central bank is trying to maintain the exchange rate of the dollar through the auction of selling the currency at 120 thousand to 100 dollars."
He added that "the exchange rate of the dollar, even if affected by the current crises, is back at the level of 120 thousand, but if the crisis continues for a long time up to a year from today, the effect will be evident on the exchange rate."
And that "the dollar exchange rate will be affected by the government's resort to the cash reserve for a long time, especially if this reserve is used to bridge the budget deficit", pointing out that "there are agreements with the International Monetary Fund to maintain the dollar exchange rate inside [You must be registered and logged in to see this link.] ."
He explained that " [You must be registered and logged in to see this link.] has 65 billion dollars in strategic storage represented in dollars and gold in addition to the investment portfolio containing 3 billion dollars."
He pointed out that "gold prices rise with every variable or instability that occurs in the market, where investors and merchants resort to gold and real estate in order to preserve their money, so the increased demand for this mineral will raise its value in the market." 25 n ended
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rocky
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Economist: The dollar exchange rate will not be affected by the decline in oil prices Empty Economist: The dollar exchange rate will not be affected by the decline in oil prices

Post by rocky Wed Mar 11, 2020 3:55 am

[size=30]Economist: The dollar exchange rate will not be affected by the decline in oil prices[/size]
March 11, 2020 | 9:48 am | Views:
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The economic expert, Saleh Al-Hamash, confirmed on Wednesday that the exchange rate of the dollar in the Iraqi local market will not be affected at the present time due to the drop in oil prices, pointing out that the effect will be clear if the decline in oil prices continues for a year from today.

Al-Hamash said in a statement to "The Information" and seen by Sada agency, "The currency rates are affected by the country's gross output, but in Iraq the central bank is trying to maintain the dollar exchange rate through the auction of selling the currency at 120 thousand to 100 dollars."

He added that "the exchange rate of the dollar, even if affected by the current crises, is back at the level of 120 thousand, but if the crisis continues for a long time up to a year from today, the effect will be evident on the exchange rate."

And that "the dollar exchange rate will be affected by the government's resort to the cash reserve for a long time, especially if this reserve is used to bridge the budget deficit", pointing out that "there are agreements with the International Monetary Fund to maintain the dollar exchange rate inside Iraq."

He explained that "Iraq has 65 billion dollars in strategic storage represented in dollars and gold in addition to the investment portfolio containing 3 billion dollars."

He pointed out that "gold prices rise with every variable or instability that occurs in the market, where investors and merchants resort to gold and real estate in order to preserve their money, so the increased demand for this mineral will raise its value in the market."



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