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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


    MP points out 5 government “failures” in the dollar issue.. and threatens to hold the “highest autho

    Rocky
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    MP points out 5 government “failures” in the dollar issue.. and threatens to hold the “highest autho Empty MP points out 5 government “failures” in the dollar issue.. and threatens to hold the “highest autho

    Post by Rocky Wed 10 Jul 2024, 4:41 am

    MP points out 5 government “failures” in the dollar issue.. and threatens to hold the “highest authority” accountable

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    Baghdad Today - Baghdad 
    Member of the Parliamentary Legal Committee, Representative Raed Al-Maliki, reviewed today, Tuesday (July 9, 2024), 5 joints in which the government failed in the dollar exchange rate file, which led to the instability of exchange rates, while he threatened to hold accountable "the highest government agency."
    Al-Maliki said in a statement received by "Baghdad Today", that "after more than 18 months since the beginning of the problem of the decline in the value of the Iraqi currency and the occurrence of a large gap between the official dollar exchange rate and the parallel rate, it has been confirmed beyond doubt that the procedures of the Central Bank and the "procedures of the government" and its advisors have failed to achieve stability for the dinar and reduce the gap between the two prices."
    He added, "Therefore, we have no choice but to hold the relevant authorities accountable, especially the (Central Bank Administration) and the (government) for this failure that costs the state huge sums of money (trillions) that are wasted outside the budget, and billions that go into the pockets of the corrupt, whose addresses are many, and the people bear a great burden as a result of the dependence of the prices of most goods on the exchange rate in the parallel market, which is much higher than the official selling price."
    He stressed that "the government will be questioned at its highest level due to the failure to achieve important points in the government programme and the waste of huge sums of money that our people are in great need of."
    He explained that "in order not to be accused of speaking without knowledge and without understanding the nature of the problem and diagnosing the governmental failure and negligence, I will specifically identify the most prominent sources of failure that the procedures of the Central Bank and the government caused in the continuation of the problem and the waste of money, and they are: 
    1- The failure of the Central Bank and the government to determine Iraq’s position towards America in dealing with countries that the United States prohibits from using the dollar and restricts trade with, such as Iran and Syria, unlike other countries that succeeded in agreeing with America on a formula for dealing with Iran, Syria and Turkey without facing restrictions like those facing Iraq.
    2- The government’s failure to control the ports and informal trade that depend on the parallel dollar. This is due to the government’s failure to unify customs policy and prevent informal ports, especially in Kurdistan, where there are more than 32 unofficial and uncontrolled ports or crossings.
    3- The government’s failure to address the issue of (small traders), whose number exceeds, according to government information, (400,000) four hundred thousand traders and suppliers of goods in Iraq, who practice trade outside the official framework, and rely on the parallel dollar to cover their imports, as they evade using platforms and official transfer for tax reasons and to bypass the delay resulting from auditing transfers.
    4- The failure of the Central Bank and the government to address the problem of speculation and commissions received by banks, as they buy the dollar at the official price of 132 and sell it at a price exceeding 140, without showing this in their records, and without deterrent legal accountability procedures.
    5- The failure of the Central Bank and the government’s procedures to provide travelers with dollars, and this file turned into a corruption file, the cost of which was estimated at (600 billion dinars) according to oversight data, due to the collection of dollars for travel purposes without verifying the travel or the actual need (fictitious cases).
    These five points represent the most prominent reasons for the problem of the gap in the dollar price and its instability, and because of them billions are lost and wasted. In addition to that, Arab and foreign banks entered and took over the currency auction under the pretext of facilitating the procedures for dealing with international banks, so their profits increased at the expense of Iraq. 
    He explained that "in light of this, our responsibility as representatives who are not participating in this government and who oppose the quota system, and who have sworn to protect the interests of the people, requires us to take all constitutional, legal and popular means to stand up to this failure and mismanagement that has wasted the people's money and harmed the Iraqi economy. We will join hands with all those who stand with us from the honorable representatives from the other blocs, who we know are not satisfied with the situation and we hope they will rise up against it."
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