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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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    The Finance Committee denies resorting to printing currency to pay the salaries of employees

    Rocky
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    • Post n°1

    employees - The Finance Committee denies resorting to printing currency to pay the salaries of employees Empty The Finance Committee denies resorting to printing currency to pay the salaries of employees

    Post by Rocky Mon Mar 30, 2020 3:14 am

    [size=36]The Finance Committee denies resorting to printing currency to pay the salaries of employees[/size]

    Political | 08:50 - 30/03/2020

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    Baghdad - Mawazine News
    , the Finance Committee in the House of Representatives denied resorting to printing the cash currency to pay the salaries of employees, usually it is an incorrect step and has negative consequences, in conjunction with that the Central Bank confirmed that its law does not yet allow the issuance of cash and put it in the financial account without a balance from the dollar .
    Committee member Jamal Cougar said: "We do not believe that the printing of the currency will be used in order to pay salaries because this issue is not easy, as it needs to equate the printing of the currency against gold and the bank reserve of the dollar, so any printing without these conditions will expose the local currency to a loss Its real value. "
    He added, "It is possible for the government to resort to internal borrowing, which is contained as this solution was resorted to during the budget of last year." Ended 29 / A 43


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    • Post n°2

    employees - The Finance Committee denies resorting to printing currency to pay the salaries of employees Empty Economist: resorting to printing currency to secure salaries is excluded, and oil imports cover 35%

    Post by Rocky Mon Mar 30, 2020 12:36 pm


    Economist: resorting to printing currency to secure salaries is excluded, and oil imports cover 35% of them

    15:45 - 3/30/2020



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    Information / private ...
    Economic expert, Saad al-Qadi, ruled out, on Monday, that [You must be registered and logged in to see this link.] resorted to printing the currency to secure the salaries of employees in light of the economic crisis caused by low oil prices, indicating that the printing of the currency leads to high inflation rates in exchange of the Iraqi dinar against the dollar.
    The judge said to / information / that "the government will face great difficulty in securing the salaries of employees for the next month in light of the continuing decline in oil prices."
    He added that "what [You must be registered and logged in to see this link.] receives from the money from the imports of the sale of oil covers only 35% of the salaries of state employees," noting that "there are solutions expected of the government to resort to to cover salary expenses."
    He stated that "the first option will go to the government to reserve in the central bank, while the second option will be in the event of continued decline is compulsory savings." Finished 25 and


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    • Post n°3

    employees - The Finance Committee denies resorting to printing currency to pay the salaries of employees Empty The Ministry of Finance told “Maalouma”: printing the currency needs a decision from 4 sides and the

    Post by Rocky Tue Mar 31, 2020 7:21 am


    The Ministry of Finance told “Maalouma”: printing the currency needs a decision from 4 sides and the salaries are insured

    12:40 - 3/31/2020



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    Information / Baghdad ..
    The Ministry of Finance confirmed, on Tuesday, that the salaries of employees are fully insured and there is no need to print the currency in order to pay it, noting that printing the currency needs a decision from four sides.
    The Ministry's media director, Taha al-Hashemi, said in a statement to "Information", that "the news that some sites and media have circulated about printing currency without health", indicating that "printing the currency needs to issue a high-level decision from the Council of Ministers, the Advisors Authority, the Ministry of Finance and the governor of the bank Central. ”
    Hashemi added, "The matter was not formally presented in cabinet meetings," noting that "employee salaries are fully insured and we do not need to print a local business to pay employee salaries." Ended / 25h


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    • Post n°4

    employees - The Finance Committee denies resorting to printing currency to pay the salaries of employees Empty Is Iraq resorting to printing currency to overcome its financial crisis?

    Post by Rocky Wed Apr 01, 2020 4:37 am

    [size=47]Is Iraq resorting to printing currency to overcome its financial crisis?
    17 hours ago[/size]


    [You must be registered and logged in to see this link.]Central Bank Law does not allow him to lend to the government either by printing currency or any other way (European)


    [ltr]Adel Fakher - Baghdad [/ltr]


    The appearance of Muhammed Salih, advisor to the Iraqi Prime Minister, confirmed that the options to face the financial situation are heading towards pressure of expenditures, and that the issue of printing the currency is just a proposal that is not consistent with the Central Bank Law, which confirms that the  printing of banknotes is aroutine technicalprocedure practiced by the bank according to the requirements of cash circulation, and that the printing Completely separate from the cash issue process.
    Saleh said that the government has financial procedures that will not lead to stumbling the salaries of employees, as it is one of the priorities of the government, indicating that their options for facing the financial situation are heading towards pressure expenditures, indicating that there is a team working with the Ministerial Council to restructure state expenditures, and that the issue of printing the currency is just a proposal that does not Consistent with the Central Bank Law.
    And the Central Bank of Iraq issued an explanation regarding what is being circulated from the news about the possibility of printing an Iraqi currency to avoid economic problems, in which he affirmed that any party cannot withdraw banknotes from the central bank unless there are funds in its accounts that cover the amount to be withdrawn, and therefore, does not mean To say that the dinar is of any meaning other than strengthening the treasures of the Central Bank in accordance with the monetary policy, and not for any other purpose or purpose. The law of the Central Bank and Monetary Policy do not allow the issuance of cash in favor of an account without a balance.
    The bank said in a statement that  when the Ministry of Finance wishes to finance spending on different spending units and salaries, it requests the central bank to strengthen its account in Iraqi dinars in exchange for withdrawing from its account in dollars, so no amount is deposited into the finance account in dinars unless a withdrawal from its dollar account is offset. 
    Noting that the Central Bank Law does not allow him to lend to the government, whether by printing the currency or any other way, direct or indirect, and he is entitled to deduct the treasury transfers, if they are present in the secondary trading market, as it is one of the tools of monetary policy, as he saw this based on data Precise objectivity serving the objectives of monetary policy. 
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    The government says that it has procedures that will not lead to stumbling the salaries of (European) employees
    The balance of economic deficits and economist Salam Semsem asked  about the nature of the cash issue and whether it was in the normal form issued by the government in exchange for coverage with a quantity of cash and a quantity of gold, the state’s commitment to the international community, the international economy, and the International Monetary Fund, and all this is measured by the state’s economic standing and the amount of wealth. 

    Sumaisem told   Al Jazeera Net that the state now hints at the printing of the coin to coincide with the talk about the cash crisis and the existence of a deficit, and this means that there is a deficit in the economic balances represented by the general budget, the trade balance and the balance of payments, and this requires more money, so how can the state pay this deficit with the increasing expenses represented by salaries Wages and social benefits.
    She also asked, "Will the printing of the currency be free of charge, and if it is, it will negatively affect the reality of the Iraqi economy through the collapse of the Iraqi dinar, which will lead to significant monetary inflation, and here the risk is possible because it will affect the classes with limited income, meaning that the amount of goods and services that it gets The individual as a result of his use of this income will decrease, and with it the living standards of the individual represented by the most important files such as food and medicine will decrease. " 
    The value of remittances
    inrelated context,Central Bank issued instructions concerning commission cash withdrawal todollar, that it willregardless accounted 25% ofvalueremittancesdollars that comeIraqi banks  dinar  Iraqi, asmeasure to overcomefinancial and economic crises. 
    In this regard, economic analyst Dhargham Mohammed Ali explained to Al-Jazeera Net that this measure is caused by a  lack of foreign currency caused by the decline in the price of crude oil in global markets, which is a temporary measure to cross the current crisis, indicating that it is a procedure followed in many countries that suffer from a shortage of currencies Foreign , as for the printing of the currency, it is not possible because it will harm the  economic and financial position of Iraq and float the price of the currency and create greater economic problems, he said. 
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    The Central Bank issued instructions related to the cash withdrawal commission for the dollar   (Al-Jazira)
    And on the ways to support the federal budget to cover the deficit, Muhammad Ali explained that this is done by giving away all unnecessary forms of spending, reducing the salaries of special grades and stopping the  statements  completely.
    The Iraqi currency went through several phases, the royal edition bearing the image of King Faisal and continued until 1958, the edition bearing the Republican emblem until 1978, and the international edition, called the Swiss edition, which was printed at the  British company  Delaw and   Soviet Exports until 1990.
    Then, as a result of the circumstances of the economic blockade that Iraq passed through, the Central Bank of Iraq printed the banknotes at Dar Al-Nahrain for printing, and in the beginning of 2003 the central bank withdrew all local and international banknotes named Swiss edition and put the new series of Iraqi dinars consisting of seven categories that were printed with specifications High security, while  continuing  to develop these specifications, which prevents the ability to counterfeit or counterfeit them.


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    Source: Al-Jazeera
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    • Post n°5

    employees - The Finance Committee denies resorting to printing currency to pay the salaries of employees Empty Association of presses: printing currency is an economic crime

    Post by Rocky Wed Apr 01, 2020 7:38 am


    Association of presses: printing currency is an economic crime


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    The [url=https://www.thebaghdadpost.com/ar/Story/t/145562/%D8%B1%D8%A7%D8%A8%D8%B7%D8%A9 %D8%A7%D9%84%D9%85%D8%B7%D8%A7%D8%A8%D8%B9 %D8%A7%D9%84%D8%B9%D8%B1%D8%A7%D9%82%D9%8A%D8%A9][size=13]Iraqi Press Association[/url] criticized [url=https://www.thebaghdadpost.com/ar/Story/t/145562/%D8%B1%D8%A7%D8%A8%D8%B7%D8%A9 %D8%A7%D9%84%D9%85%D8%B7%D8%A7%D8%A8%D8%B9 %D8%A7%D9%84%D8%B9%D8%B1%D8%A7%D9%82%D9%8A%D8%A9]the[/url] idea of [url=https://www.thebaghdadpost.com/ar/Story/t/145563/%D8%B7%D8%A8%D8%B9 %D8%A7%D9%84%D8%B9%D9%85%D9%84%D8%A9]printing the currency[/url] , describing it as [url=https://www.thebaghdadpost.com/ar/Story/t/145564/%D8%AC%D8%B1%D9%8A%D9%85%D8%A9 %D8%A7%D9%82%D8%AA%D8%B5%D8%A7%D8%AF%D9%8A%D8%A9]an[/url] " [url=https://www.thebaghdadpost.com/ar/Story/t/145564/%D8%AC%D8%B1%D9%8A%D9%85%D8%A9 %D8%A7%D9%82%D8%AA%D8%B5%D8%A7%D8%AF%D9%8A%D8%A9]economic crime[/url] ".

    The association's vice-president, Ahmed Mohamed Nima, said in a press statement: " [url=https://www.thebaghdadpost.com/ar/Story/t/145563/%D8%B7%D8%A8%D8%B9 %D8%A7%D9%84%D8%B9%D9%85%D9%84%D8%A9]Printing a[/url] paper [url=https://www.thebaghdadpost.com/ar/Story/t/145563/%D8%B7%D8%A8%D8%B9 %D8%A7%D9%84%D8%B9%D9%85%D9%84%D8%A9]currency is [/url][url=https://www.thebaghdadpost.com/ar/Story/t/145564/%D8%AC%D8%B1%D9%8A%D9%85%D8%A9 %D8%A7%D9%82%D8%AA%D8%B5%D8%A7%D8%AF%D9%8A%D8%A9]an economic crime that[/url] brings to mind the country’s situation during the previous regime."

     And Nima stressed: "This process will encourage outlaws to print unlimited amounts of currency in light of widespread corruption and lawlessness." 

    He suggested: "The government should take alternative measures to avoid the collapse of the dinar as a result of printing and the possibility of counterfeiting," noting that "one of the alternatives is to distribute salaries in dollars instead of selling it by currency auctions that take place daily within the central bank."


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    employees - The Finance Committee denies resorting to printing currency to pay the salaries of employees Empty Re: The Finance Committee denies resorting to printing currency to pay the salaries of employees

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