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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


    MM&C 3/19/24 An economist criticizes the Central Bank's measures to resolve the dollar crisis and pr

    Rocky
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    MM&C 3/19/24 An economist criticizes the Central Bank's measures to resolve the dollar crisis and pr Empty MM&C 3/19/24 An economist criticizes the Central Bank's measures to resolve the dollar crisis and pr

    Post by Rocky Tue 19 Mar 2024, 2:37 pm

    22 minutes ago<figure></figure>Economic researcher, Omar Al-Halbousi, said today, Tuesday, that the Central Bank’s measures to resolve the... ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­  
     
     
     

    22 minutes ago

     
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    MM&C 3/19/24 An economist criticizes the Central Bank's measures to resolve the dollar crisis and pr %D8%A7%D9%84%D8%A8%D9%86%D9%83-%D8%A7%D9%84%D9%85%D8%B1%D9%83%D8%B2%D9%8A-780x470
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    Economic researcher, Omar Al-Halbousi, said today, Tuesday, that the Central Bank’s measures to resolve the dollar crisis have not achieved success so far. On the contrary, they have contributed to establishing an oligopoly of the dollar, calling on the government and the Central Bank to take corrective measures using monetary policy tools and monitoring the work of banks and the parallel market to control the price. Exchange.
    Al-Halbousi told “ News ” that “it is well known that the Central Bank’s measures, over a whole year, regarding controlling exchange rates, resolving the dollar crisis, and reducing the difference between the official and parallel exchange rates have not achieved success until this moment. On the contrary, they contributed to establishing the oligopoly of the dollar.” By allowing banks not to deliver remittances to individuals and companies in dollars, but rather deliver them in dinars and at the official exchange rate, which causes a huge loss to the owner of the remittance, in addition to the banks benefiting from this decision and giving them dominance.”
    He added, “Especially since the banks are the ones who control the parallel market and dispute the exchange rate in it, which Al-Sudani confirmed in a previous statement, and the banks that dominate the currency selling window are the ones who pay to keep the exchange rate high because they achieve large gains whenever the exchange rate rises.”
    He continued, “In addition to that, the continued inactivation of exchange companies in the western governorates and the Kurdistan region contributes to the exchange rate remaining high, and there are regional countries that live on the dollar in Iraq and they use their affiliated sensors represented by private banks and currency traders who monopolize the dollar for their benefit and then deliver it.” The dollar is transferred to these countries through fraudulent means, which is a sign that proves the continued circumvention of American sanctions, which exposes Iraq to the risk of new sanctions.”
    He stressed, “Therefore, the government and the central bank must take corrective measures using monetary policy tools and fair application, away from police measures that do not solve the crisis, but rather exacerbate it, and monitor the work of the banks and the parallel market in order to control the exchange rate and not leave it in the hands of bank speculators who caused the value of the Iraqi dinar to decline.” And huge losses to the state treasury due to the difference between the two prices, knowing that the value of the dinar is part of national sovereignty that requires preserving it and not wasting it like the other ones.”
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    I suspect this man knows that a real effective exchange rate applied to their currency would alliviate this issue quite quickly!! I do not think Iraq wants more sanctions. It looks like his idea of taking corrective measures now is a good Idea... imo ~ MM

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