Post From Peoples Dinar
Stevel: This was provided to me by one of our great members that follows this and the ISX very closely. He has provided me with some very powerful articles in the past and this one gave me a big smile. :)
Exceptional Crisis Had To Be Exceptional Decisions
Dr. Abdul Basit Turki al-Hadithi
It is obvious that the fateful decisions in the life of peoples and nations to be more daring and mature when they are taken in the light of the discussions calm and under normal conditions, especially if combined with the broad participation of the owners of jurisdiction and stakeholders in these decisions.
It goes without saying also that the presence of crises and intensification reduces the opportunities for expansion in the involvement of the public drafting of decision-making and therefore highlights the efficiency of the decision-maker and his boldness,
and when the absence of available alternatives, the decision maker searching for crucial treatments were not from data cope with the crisis, it is true that a high degree but the risk of a historical crossroads in the life of peoples and nations.
Iraq used to handle its crises through financial abundance, whether or gifts and bribes for layers and slides under the primitive state in social institutions with marginal engine class dimension in which the mechanisms of the process.
After 2003 and witnessed the social fabric in Iraq from tearing and witnessed by the State Administration of re-focused on the new names (quotas, sectarianism, partisanship …. etc), were all co-exist under the financial abundance with the Authority,
it doubled the size of the general budget within ten years to more than five times and became the number-makers economic decisions, not only in government but in every society some tremendous and mixed capital Political already (Civil him and armed) is disgusting,
it was all real crises were enough in any of the communities to create tens of uprisings or revolutions, but the continuing horror of repression not even in the consciousness of citizens, with the financial maneuverability, and the presence of external factor (occupation, penetration, presence of intelligence) all that malfunction subjective factors to change.
No longer for Iraq to rebuild their society first, and their own second, but the other and accept the language of dialogue no matter what we disagree with him, actually imposes that it is not advice utopian,
the crisis revealed weaknesses killer in the country and so we hope to contribute to what we believe it signals may be that the maker finds bold decision opportunity to save what can be saved and perhaps for rebuilding a more efficient and proudest.
Most of those interested agree the Iraqi economy on the Iraqi economy complain of structural imbalances not Adelha of unilateral economic resource and waste of economic resources and lack of resolve to choose economic way in the building (everyone calls for a market economy and all departments speak for opportunities to build public) sector,
where unemployment is clear not only in resources but only in the advanced professional levels as well, sounding the alarm poverty line, sectoral crises (infrastructure, housing, standard of health, illiteracy rate, children out of school, the quality of the activities … etc).
The recent financial crisis, a decline in oil prices (and we promise this article the price per barrel fell in less than 24 hours more than five dollars), where he was selling a barrel of Iraqi oil for the months February, March, April 2015 is (almost 54.50, $ 55 from port North 45.48, to $ 51 from the southern port) cultivars,
while the price of $ 57 per barrel adopted in Aaadadalmoisnh, so it’s mathematically expected to form the actual budget deficit of more than 20% of its size, and in the circular of the public treasury and borrowing from banks assets exhaustion and the contributions of the Central Bank,
the second half of this year will see a real problematic in financing current expenditures only for the continuation of the work of the administration in Iraq.
Arena has seen a lot of economic theory and newspapers were filled with articles of bona fide naive in addressing economic problems did not mind some of the effect he can be raised by a certain rumor or disturbance in the economy of statement is already troubled.
We always say We continue to believe that the dilemma in Iraq’s economy is not in the theory and describe the problem, even with a sober of this theory,
but the dilemma of the Iraqi economy is in the management of the economy and specifically in managing resources efficiently and preceded by a justice of the franchise to poor layers Her real interest in building safe and stable future for generations,
in light of the crisis think wealthy beneficiaries and their feet while the poor pay the price for this crisis of blood and opportunities and the dignity of their children.
We had we pointed out and we are in a position of responsibility that the exaggeration in the drafting of the general budget deficit of the scheme and is not justified is the error in the financial management leads inevitably to the crisis, even if it kept oil prices at previous levels (about $ 100 per barrel),
and therefore there has been actual deficit in 2009 and replaced the suffocating now the crisis, Nasr we were in more of a treatise on this expansion in the budget estimates will lead to an actual deficit with accompanied always incompetence in spending,
and therefore asks the audience, for example, why did not solve the problem of electricity despite the billions spent by since 2003 until now?
Why deteriorating health services? Why do not we have an army still potent and professionally and armed with weapons fit in with the size of what it was spent?
Everyone can submit examples here or there on the existence of corruption but everyone did not pay attention to the origin of this problem which is the continuation of the keenness of successive governments more than the size of spending without trace to its revenues,
accompanied by acts of terrorism and violence in Iraq in the absence of a general budget of the state in 2014 to continue the government spending without even the presence of these boundaries that we criticize and believe Bmatha, continued spending and continued resistance to the issuance of the budget,
and issued the budget in 2015 has not issued so far in 2014 budget, and was the lowest of the sense of responsibility of the various authorities requires a law to balance the 2014 to frame the actual spending only and are studied and discussed type and trends of this spending,
which led to the crisis (disaster current), however, the external indebtedness of opportunities for Iraq to cover spending requirements which became tight now and return for a loan of $ 800 million or a billion dollars from international organizations will be imposed on Iraq conditions
to say the least it’s exciting social disorder more under this circumstance than is actually the disorder, once again safe and as a solution (with our knowledge of the imbalance in the structural Iraqi economy, not only financially)
“…the fiscal and monetary authorities in Iraq now that is seriously considering (and bravely) adjust the exchange rate of the Iraqi dinar and including in line with the real price for the operation of the economy and the productive sectors,
we know that it will be at the expense of all of our dreams strongly Iraqi dinar, which was worth US $ 3.33…” and 2.4 pounds, and became in 1979 KD and AED,
and I know very well that the initial reading of what would respond later Ststvz citizen who claim that I defend him Ohz provocation is justified,
where no longer has the ability to withstand the face of these circumstances burdens extra, but I did not find, but a choice between going into the unknown this citizen and between finding inexpensive solution to him in the short term, both in job creation or the revitalization of the economy as a whole.
Although I think ease the burden immediate depends on the government’s ability to deliver services to its stakeholders (Rashadh spending), with the exchange mentioned price (Dream) fit state continued exporting oil to importing goods,
which led down to the erosion of the real in which economic sectors for the benefit of service activities or marginal associated abroad often,
but“…the choice is now between the high exchange rate of the Iraqi dinar, or building a strong economy are working with and the market economy efficient mechanisms and address the important part of the budget deficit,
is no longer the exchange rate 1500 dinars to the dollar now enough, the economic impact the negative social to change the exchange rate significantly will be touch through high inflation in Iraq…”
and the implications of this increase in pressure on the owners with limited income and low-lying in the community, and to address it must at the same time seriously considered to provide a ration card incompetent reservation a minimum of standard of living of the citizen without pressure on the low food level originally and policy to rationalize the government imports directly through the use of
“…the Ministry of Finance for its own account dollar with the outside world believe that it can now in the short-term stand him seriously Inevitably
, the face of the crisis, the central bank can use its reserve of foreign (currency which should be the last line of defense is to resort to him) to defend any exchange rate he wants,
but to what extent and at what cost? This is important. We hope that the crisis is an opportunity to build deterioration factor may be the impetus to take courageous decisions.”
This is a very great article and show how real this really is. Have a safe week. Blessings, Steve
Abdel Basset TurkiFrom Wikipedia, the free encyclopedia
Abdel Basset Turki al-Hadithi Governor of the Central Bank of Iraq Incumbent Assumed office 2012 Prime Minister Nouri al-Maliki 1st Minister for Human Rights In office September 2003 – April 2004 President Iraqi Governing Council Prime Minister Iraqi Governing Council Preceded by Ministry created Succeeded by Bakhtiar Amin Abdel Basset Turki al-Hadithi was Minister of Human Rights in the cabinet appointed by the Iraq Interim Governing Council in September 2003.
He resigned in April 2004 in protest at the deaths of over 600 Iraqis during the siege of Falluja.
In November 2003 Turki demanded access to the captured "Most-wanted Iraqi playing cards", saying they were not all prisoners of war. He condemned human rights violations by US and allied troops in the Combined Joint Task Force 7. He called for victims to be paid compensation.
After the emergence of the Abu Ghraib torture and prisoner abuse scandal in May 2004, Turki stated that he had complained to Paul Bremer, the US head of the Coalition Provisional Authority in November 2003 of human rights violations in Iraqi jails but had "received no answer".
Abdel Basit Turki al-Sae'ed was Iraq's acting central bank governor from October 2012 until October 2014, during that period he was simultaneously the head of the country's Supreme Audit Board.
This questionable appointment was followed after he led an audit in September 2012 of the central bank currency auctions convincing him that $800 million is "transferred illegally under false pretenses" outside of the country every week.
This was related in the October 31st 2012 report from the US government's Special Inspector General for Iraq Reconstruction (SIGIR). "Turki was not available for comment on his report".
In December 2014 the Supreme Court of Iraq concluded that the findings from Turki's audit report were unfounded. Again "Turki was not available for comment".