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Neno's Place Established in 2006 as a Community of Reality


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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


    The country's markets are suffering from a scarcity of cash liquidity

    Rocky
    Rocky
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    The country's markets are suffering from a scarcity of cash liquidity Empty The country's markets are suffering from a scarcity of cash liquidity

    Post by Rocky Mon 02 Oct 2023, 4:40 am

    The country's markets are suffering from a scarcity of cash liquidity


    Iraq  10/02/2023
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    Huda Al-Azzawi
    Among specialists in economic and financial affairs, that despite the large size of the monetary mass, which amounts to (83) trillion Iraqi dinars, there is a noticeable scarcity of cash liquidity from the Iraqi dinar in the commercial markets, explaining that this comes for several reasons, foremost of which is mismanagement. The financial file in the country.
    Professor of Political Economy, Jalil Al-Lami, said in an interview with “Al-Sabah”: “Despite the Iraqi government’s possession of a large monetary mass of no less than (83) trillion Iraqi dinars, and no less than (75%) of this mass in commercial markets, However, we find a significant shortage or scarcity in commercial markets, due to mismanagement of the financial and monetary file in Iraq.”
    He pointed out that “Central Bank Law No. 56 of 2004 gave the bank the authority to formulate monetary and financial policy in Iraq and work to preserve the value of the Iraqi dinar, but we found the disappearance of the monetary mass from the commercial markets, because the Iraqi economy depends on imports and exports of crude oil, which are in dollars and which are denominated in dollars.” The Central Bank of Iraq needs to exchange them for Iraqi dinars in order to cover operational expenses.”
    He explained, "The traditional sources that the Central Bank of Iraq relies on are the deposits of government banks and private sector banks, the deposits of government departments and institutions, currency sales window sales, and the issuance of new cash - if necessary - which are offset by operational expenses."
    He explained, "The volume of cash available to citizens is estimated at approximately 35 trillion Iraqi dinars - equivalent to 28 billion dollars - as a result of weak confidence in the banking sector and the modest procedures that enable them to access their money at any time, including electronic teller machines (ATMs) and advanced exchange systems." In addition to the repetition of official holidays and increased security measures.
    Al-Lami added, “What further strengthened the convictions of mistrust among Iraqis was the incident of the collapse of the banking sector in Lebanon. Therefore, the Central Bank of Iraq must work to implement Bank Law No. 56 of 2004, which came to confirm the importance of the independence of the Central Bank in implementing the appropriate monetary policy to achieve its goals.” “In preserving the value of the currency, stabilizing prices, and reducing inflation rates, in a manner consistent with reconstruction and achieving economic development.”
    070 trillion Iraqi dinars of that currency are outside the banking system, and although this (huge) monetary mass is used for the purposes of transactions by the public and to carry out its daily economic activity; However, it is outside the control of the monetary authorities.”
    He pointed out that, “From another angle, we know that public expenditures are what increase the motives for raising the volume of the exported currency, as the exported currency constitutes approximately or more than 75% of the volume of public expenditures, given that public expenditures are the only element that creates total demand (government). The monetary authorities must cover this request through credit or cash issuance due to weak credit, especially those provided by private banks (the number of which is more than 71 private commercial banks).
    Alloush stated, “The delay in implementing the general budget has cast a negative shadow on the balance between the achieved local demand and the cash supply (the source), and thus increases the volume and proportion of cash funds held by the public. Here, the problem of liquidity scarcity may become clear as the expenditures financed by that cash block weaken and thus weaken.” There is a real incentive for people to keep cash.”

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    Rocky
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    The country's markets are suffering from a scarcity of cash liquidity Empty The country's markets suffer from a scarcity of cash liquidity

    Post by Rocky Mon 02 Oct 2023, 4:44 am

    The country's markets suffer from a scarcity of cash liquidity


    The first  10/02/2023
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     Baghdad: Hoda Al-Azzawi.

    Experts in economic and financial affairs stated that despite the large size of the monetary mass, which amounts to (83) trillion Iraqi dinars, there is a noticeable scarcity of cash liquidity from the Iraqi dinar in the commercial markets.
    Professor of Political Economy, Jalil Al-Lami, said in an interview with “Al-Sabah”: “Despite the Iraqi government’s possession of a large monetary mass of no less than (83) trillion Iraqi dinars, and no less than (75%) of this mass in commercial markets, However, we find a significant shortage or scarcity in commercial markets, due to mismanagement of the financial and monetary file in Iraq.”
    He pointed out that “Central Bank Law No. 56 of 2004 gave the bank the authority to formulate monetary and financial policy in Iraq and work to preserve the value of the Iraqi dinar, but we found the disappearance of the monetary mass from the commercial markets, because the Iraqi economy depends on imports and exports of crude oil, which are in dollars and which are denominated in dollars.” The Central Bank of Iraq needs to exchange them for Iraqi dinars in order to cover operational expenses.”
    He explained that "the traditional sources that the Central Bank of Iraq relies on are the deposits of government banks and private sector banks, the deposits of government departments and institutions, currency sales window sales, and the issuance of new cash - if necessary - which are offset by operational expenses."

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