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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


    An economist warns of the “extremely dangerous” paragraph in the recent statement of the Central Ban

    Rocky
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    • Post n°1

    An economist warns of the “extremely dangerous” paragraph in the recent statement of the Central Ban Empty An economist warns of the “extremely dangerous” paragraph in the recent statement of the Central Ban

    Post by Rocky Sat 05 Aug 2023, 5:25 am

    [size=45][size=41]An economist warns of the “extremely dangerous” paragraph in the recent statement of the Central Bank[/size]
     14 hours ago
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    On Friday, the economic expert, Shawan Al-Zangana, warned against limiting the financial transfers of merchants in the hard currency of the US dollar through the electronic platforms of the Central Bank of Iraq, considering that this measure would lead to stopping the entry of imported goods into the markets in the country.
    Commenting on the statement issued Thursday by the Central Bank regarding dealing in dollars and the exchange rate, the expert said in a press interview seen by Taqaddam, that it “contains a very dangerous and sensitive paragraph. Their transfers through the platform, if their goods enter Iraq through customs, and this clearly means that merchants will not be able to import their goods except through the platform, as the transfer document will have to be shown through the platform in all customs clearances.
    He added, “If this decision is implemented in its proper way, without facilitating transfers through the platform for all merchants, the supply chains through customs and the entry of goods will stop, until the procedures are amended, and this means that imports will stop, and all goods will be scarce in the local markets, and thus prices will rise.” And the pace of inflation escalated, and a large number of merchants were affected, not to mention the citizen’s loss of his purchasing power.”
    Al-Zangana also warned the federal government and the Central Bank of Iraq against the immediate implementation of this decision, and in this abstract form, without preparing the ground and enabling all merchants to use the platform properly and smoothly, and facilitate its procedures, including delaying the presentation of the transfer document until after the entry of goods. within a certain period of time.”
    He pointed out that "the government's measures, all of the Central Bank's procedures, are flimsy cartoon measures that do not help solve the monetary crisis. On the contrary, they are measures that aggravate the problem and help smuggling."
    The economist called on all chambers of commerce, businessmen federations, civil organizations, research institutions, and economists to organize seminars in this regard, to actively contribute to resolving the monetary crisis, and to propose plans and recommendations that contribute to legalizing dealing in hard currency, and ending the crimes of speculation and smuggling. .
    He also called for moving quickly before it is too late, because the Iraqi financial administration lacks proper vision, suffers from distortion in its compass, and does not put its hand on the wound.
    And the administration of the Central Bank of Iraq considered, on Thursday, what is being traded in the markets of the exchange rate of the dollar against the dinar by speculators “illegitimate,” calling for the need for all parties to join forces to achieve stability in the exchange rate, especially since Iraq has sufficient foreign reserves to meet legitimate needs.
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