Economist: the time is right to apply the project to delete the three zeroes from the currency 05-12-2013 10:00 AM
Baghdad (news) .. Said economic expert Dargham Muhammad Ali, to the present time appropriate for the application of the project to delete the three zeroes from the Iraqi currency, the fact that the exchange rate of the dinar relatively stable during the current period.
[tlm724] "the central bank is linked to coordination with the governmental institutions and the private sector to encourage the promotion of the new currency in the market"
[tlm724] he is saying the CBI "could " do it as they are linked already
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[tlm724] so he is saying the dinar is nice and stable (within the 2 % threshold set by the IMF) and they have plenty of reserves to back the new currency
[tlm724] "and continued to be a transitional period of not less than two years are traded on the two currencies together and start a promotional campaign expanded for the new currency "
[tlm724] and he suggests that it take at least two years for the completed transition, let the two different dinars co-exist for 2 years also while the people exchange the old notes and get used to the new notes
[tlm724] "where the intervention of all within the existing equivalent of the dollar"
[tlm724] I believe he is saying it will equal to a dollar
[Shredd] yes, another great article for the zeros project......... and I agree timmy
[Shredd] even though we can discount economist opinions somewhat against what the CBI would say, they are economists after all and they see the benefits
[Shredd] it really makes common sense for this situation that, to remove the larger notes, a par rate would be necessary
[Shredd] even if they didn't care to take in the old notes (which they do) they still need to maintain currency supply and sure, they could keep using the usd for years to come, but really they cannot.... we've seen that mounting, overwhelming expectation that Iraq utilizes it's own currency
[Shredd] plus, the articles from the FC and EC spouting off about the project
[Shredd] they see the economic side of it but I believe the CBI is being very political in their approach meaning protecting as much of the details around this project as possible to mitigate the corruption
[Shredd] so great article tlm724
[tlm724] and also the CBI put out that announcement that they wanted the opinions of all the banks as well as other financial experts as to the banking laws etc... so IMO all these varying opinion's do have influence to an extent
[Shredd] tlm724 yes, agreed....
[tlm724] Shredd *hallelujah*
Invitation to encourage the bond market in the stock market
BAGHDAD - Hussein al-Tamimi Tgb
said an economist Haseeb Kazim said the Iraqi market for securities needs to support continuous pointing out that he represents the most important sources of financing for the money medium and long term.
[Shredd] this article really just spells out the purpose behind the bond market... funding projects because they all need financing... and encouragement for investment...... which is the source of the funding
[tlm724] which requires accelerating the issuance of appropriate legislation to take its way in the service Iraqi economy
[Shredd] and banks like mine provide the investment and custodian services so new banks meaning a different type of banking.....the investment conduit for the financial product market
[tlm724] so do you believe the new banks ie: Standard Charter will provide those custodial services ?
[Shredd] yes in part and more to come including domestic power houses once this market goes international so, wto ascension is needed which brings a free market economy and a market driven currency
[Shredd] so it's easy, really, to see this all unfolding in front of us as the beginning stages of investment on a securities level
[tlm724] they are building this economy one brick at a time, I am excited that they are at the stage of adjusting the banking laws to bring it on !
[Shredd] yes, and that has be crucial
[tlm724] right ! they can't go forward without them !
[Shredd] international investors aren't going to dip their toes in Iraq if the waters aren't as safe as doing so elsewhere
[tlm724] a little incentive
[Shredd] right now, they are growing local investment, which comes first
[Shredd] right, incentive !
[tlm724] Shredd tyvm !
Browning the role of the private sector in the field of energy requires global sourcing
BAGHDAD - morning - Mustafa al-Hashemi
is the subject of the entry of the private sector in the field of energy and mature role through the expertise of international companies - according to those involved - things that lays the foundation for a competitive environment with the public sector to provide services diversified energy to the public, at a time resound invitations specialists in economic affairs the need to actively involve the private sector in the development process
[tlm724] said the plan will provide for Iraq about five to six trillion dollars and provide approximately Ten million jobs for Iraqis in important industries sophisticated, put Iraq on a global level in some large industries, especially petrochemical industries, pointing out that Iraq will be in the field of energy in the forefront of countries in the world and turn into a diverse country economy and sustainable development also will increase the standard of living for Iraqis.
Expand economic ties
Baghdad Al-Sabah praised general manager of TBI Hamdiya dry on efforts to expand the circle of economic relations with blocks its weight in the global economy.
[tlm724] a sign of the desire of the international companies specialized to work in Iraq and investment in all sectors
[tlm724] sweet !!! bring it on