Millionday News 8/18/14 Part 1
Welcome to dinarupdates.com for news time with Millionday!
[millionday] WELCOME EVERYONE OK LETS START FIRST I WOULD LIKE THE FLOOR
[millionday] THERE WAS A REPORT OUT TODAY AND SOME THOUGHT IT HAD TO DO WITH THE RATE SO WE ARE GOING TO LOOK AT IT RIGHT NOW
[millionday] AND THAT WAY WE ARE NOT CONFUSED ABOUT ITS MEANING
[millionday] FIRST I WOULD LIKE TO SAY SOMETHING TO HELP WITH CONFUSION
[millionday] WHEN THE RATE OF A CURRENCY COMES OUT AS FOR EXAMPLE ---- .25 --- IT IS THEN DIVIDED INTO 1 AND THE RESULTS -- IN THIS CASE =====4 IS THE DOLLAR AMOUNT YOU WILL RECEIVE IN US DOLLARS -- THAT IS WHEN IT IS NOT ALREADY STATED -----
[millionday] THIS REPORT WAS NOT AND I REPEAT NOT ---- ABOUT WHAT THE RATE IS BUT IT IS VERY VERY EXCITING SO HERE WE GO TO LOOK AT IT
[millionday] A member of the Finance Committee MP / coalition of Kurdish blocs / Dler capable, that the relative improvement of the value of the Iraqi dinar against the dollar during the current period, making some states want to deal with it.
He is capable of: that the Iraqi dinar is improving day after day, thanks to the new monetary policy pursued by the central bank, prompting some countries such as India and neighboring countries wishing to deal in the business processes.
[millionday] NOTE -- THE VALUE IS IMPROVING IN SOME AGREEMENTS AND HAS BEEN SEEN AND HAS ADDED CONFIDENCE
millionday] He pointed out that the increase in the confidence of the world in Iraqi dinar will make it difficult international currency, likely that the coming weeks will see an improvement over the value of the dinar against the dollar, and this will enhance the confidence of the world with it.
India has approached the Iraqi government the adoption of dealing in local currencies in the process of commercial exchanges of the two countries instead of the dollar and currencies in order to support the Indian and Iraqi forces.
millionday] NOTE --- IN THE NEXT WEEKS THE IRAQI DINAR WILL BE CHANGING IN ITS VALUE AND WILL ADD CONFIDENCE DUE TO THE NEW MONETARY POLICY BEING LAUNCHED –
SOME COUNTRIES ARE ASKING TO NOT EXCHANGE IT TO THE US DOLLAR FIRST BUT ARE WANTING TO HAVE A DIRECT RATE EXCHANGE FOR JUST THRIR CURRENCY
[millionday] The Finance Committee has confirmed that 2014 will see the deletion of zeros from the Iraqi currency, are described: The deleted will be in coordination with the Central Bank.
The committee member said Abdul-Hussein al-Yasiri in a press statement: The process of deletion of zeros from the national currency will begin during 2014, through an agreement with the central bank, noting:
[millionday] NOTE -- CONFIRMATION IS REAL THAT DURING THIS YEAR AND IN THE UPCOMING MONTHS AS WE SEE , WILL SEE THE CHANGE IN THE RATE AND THE REMOVAL OF THE THREE ZERO CURRENCY –
THIS WAS ANNOUNCED IN A PRESS STATEMENT----- THIS IS THROUGH THE POLICY OF CBI
[millionday] THIS IS WHAT THEY STATED AS WELL>>>>>> This project will lead to reducing the rate of the national currency in circulation from four billion to one billion.
Added: The value will be reduced to the size of the quarter, and this will enhance the value and easy to transport, pointing out that fraud or manipulation of currency cash, it will be very difficult.
[millionday] NOTE -- THEY ARE WORRIED ABOUT FRAUD AND COUNTERFEITING BUT --- THE AMOUNT OF BILLS IN CIRCULATION WILL GO FROM 4 BILLION TO 1 BILLION ON THE STREETS ---
THIS WILL ALSO BE DONE AT THE SAME TIME THE RATE AND VALUE WILL RISE AND WILL MAKE IT EASIER TO TRANSPORT AS WELL DUE TO THE PROCESS OF REDUCING THE AMOUNT OF BILLS ---
THIS IS NORMALLY DONE THROUGH BANK CARDS AND CHECKS
[millionday] The CBI identified earlier in the beginning of this year will see the implementation of the project to delete the three zeroes from the national currency, but the Iraqi government has demanded the bank to wait to apply the project, fearing the emergence of counterfeit currency during the switching process.
millionday] THEY WERE GOING TO START THIS BEFORE IN THE BEGINNING OF THE YEAR BUT WERE ASKED TO WAIT UNTIL THEY GOT EVERYTHING IN PLACE TO MINIMIZE THE RISK OF COUNTERFEITING
THROUGH DEL A RUE AND TRAINING AND SECURITY AND THE MANY STEPS WE HAVE AND HAVE NOT SEEN IN THE LAST FEW MONTHS AS THEY HAVE APPLIED THEM
[millionday] WHOOOPOW WHOOOPOW WHOOOPOW
[sudo1114] Could iraq RV country by country as requested by others. Or would it be convertible to dollars first?
millionday] THEY ARE ASKING THAT IT NOT BE PAIRED TO THE US DOLLAR SO THAT THEIR TRUE COMPARABLE RATE IS CALCULATED AND MAY BE HIGHER --- \
THE CURRENCY HAS TO BE ALL DONE AT THE SAME TIME ---
[counselor.stratton] The GOI is demanding the CBI to wait? Is this Maliki GOI or Abadi GOI?
[millionday] THIS WAS PAST TENSE --- IT MEANS THAT WHEN THEY WERE READY BEFORE THEY DID NOT WANT IT LAUNCHED YET –
MEANING THE MINISTRY OF FINANCE UNTIL THEY HAD STEPS IN PLACE TO MINIMIZE FRAUD -- SO THIS WOULD BE THE PAST GOV
[letsroll] millionday I remember reading last time iraq had 1 billion notes in circulation the value was very high ...heres hoping & smilen
[counselor.stratton] Okay, thanks!
[millionday] I REMEMBER THAT AS WELL -- SMILE
[carpet] Do you have anything in ink M has left Iraq?
[millionday] YES AND I WILL TRY TO FIND IT FOR TONIGHT NEWS BUT YES I HAVE READ THAT HE IS NOT IN COUNTRY
[billuke] TY MD and Robin, any idea what IQD would be paired to?
millionday] THEY HAVE STATED THAT TO PAIR IT TO THE SDR IT WOULD TAKE TOO MUCH TIME AND IT WILL BEGIN PAIRED TO THE US DOLLAR BUT THAT MAY HAVE CHANGED
AND THEY MAY HAVE WORKED ON IT BEHIND SCENES SO POSITIVE WE DONT HAVE
[kenster] Isn't Abadi for currency reform?
[millionday] ACCORDING TO HIS PAST I WOULD SAY SO -- HE WAS PART OF THE IRAQI FINANCE DEPARTMENT
[millionday] OK BRB WITH MORE WHOOOPOW
graylnjo] I have heard reports that the dinar will open @ 90 cents to 1.16 or close to ease inflationary pressure, then move on to a full RV. Thoughts???
[millionday] THE REPORT THAT STATED THAT WAS REFERING TO THE TOOL OF CURVING INFLATION ---
BUT WE DO NOT HAVE THE RATE -- HOWEVER THAT WOULD BE FOR THE IN COUNTRY PRICING INDEX
[millionday] OK BRB WITH MORE
millionday] Al-Sabah stressed on the importance of expert economic coordination and stimulus for the establishment of small and medium projects and ensure the funding and avoid wasteful use of resources that are limited and rare in nature, and said d.
Sadiq Rashid in an interview for the "morning" to emphasize the need for rationalization in the use of these resources is aimed to enable the economies of these countries to strengthen the capacity of their economies emerging on the face of difficulties and
[millionday] NOTE -- HE IS REFERRING TO THE PROMOTION OF IRAQ`S DEVELOPMENT
[millionday] ensure the sustainability of its economic policies to achieve growth rates of unwanted and continuous improvement in the living standards of its citizens and thus promote common development .
He pointed to the importance of recruiting successful international experiences in this field for activating economic sectors in the articular local production and services.
mentions that the number of small and medium enterprises Tjaosal 70 000 project by Statistics issued by the authorities concerned.
millionday] HE IS ASKING FOR EXPERTS TO HELP WITH PRIVATE SECTOR AND SMALL GOV ECONOMIC DEVELOPMENT---
THIS IS VERY HARD TO DO IF THEY ARE NOT EXPERIENCED AND THEY WANT TO MAKE THE BEST OF THE AMOUNT THEY HAVE TO WORK WITH ON SMALL AND MEDIUM PROJECTS
DUE TO THE FACT THAT THEY HAVE AT LEAST 70000 PROJECTS TO LAUNCH WHEN THE FUNDING BEGINS -- SUCCESS LIES IN THE RIGHT CHOICES AND THE LEAST AMOUNT OF MISTAKES POSSIBLE
[millionday] BRB WITH MORE -- THIS NEWS IS SO VERY ENCOURAGING
MsDiva] will there definitely be a meeting Tuesday?
[millionday] THEY ARE STATING THERE IS -- I MAY HAVE MORE TO BRING ON IT --
[millionday] BRB WITH MORE NEWS SMILE
[boomshakalaka] tomorrow Tuesday or week out?
[millionday] THIS REPORT IS VERY IMPORTANT AND A HUGE WHOOPOW IN SHOWING WHERE WE ARE IN THIS AND WHERE THEY ARE
[millionday] Fatlawi unanimous group of experts and specialists in economic affairs in Iraq, the need to overcome dependence on oil as the basis for the state and close the doors or scaled generally other productive sectors such as agriculture, industry, tourism and others arguing that it create a state of non-equilibrium economic as well as the failure to achieve comprehensive development.
[millionday] NOTE -- THIS IS REPORTING THE IMPORTANCE OF ALL OF THOSE ALSO LAUNCHING OTHER MARKETS TO THE SUCCESS OF THE ECONOMIC REFORM
[millionday] Fill the gaps came during a seminar expanded organized by the Institute of progress of development policies and attended the "morning" focused on the need to adopt a study this file in a constructive spirit and objective in order to lay the foundations for better financial management of the resources of the country \
and bridging the gaps In the economic sphere and in the opening speech, the head of the Institute d.
Mehdi al-Hafez said Iraq is rich in natural resources and can not be a prisoner of mismanagement of financial resources and the continued suffering of living among his sons.
[millionday] NOTE --- THEY HAVE HUGE OPPORTUNITY TO EXPAND IN SO MANY MORE MARKETS THAT WILL BRING GREAT WEALTH TO THE CITIZENS AS WELL AND NOT JUST OIL
[millionday] Tax system and said Hafiz that the administration of resources are not being properly and progress around randomly without economic vision clear and comprehensive,
which led to lack of clarity of the goals required to develop and pointed to the issue of taxation and how it represents an important source of the economy in the countries of the world,
indicating that the Iraqi economy suffers a weakness in the tax system with the pose of importance, he said.
[millionday] NOTE -- THEY ARE ALSO DISCUSSING THE ABILITIES THAT TAXATION WILL BRING TO THEIR DEVELOPMENT
[millionday] Freedom of action and concluded Hafiz Speaking with reference to the importance of paying attention to the private sector,
which is still constrained pointing out that the State-owned banks account for 90 percent of the deposits, and there are more than 40 private banks constrained and do not have the freedom to work.
[millionday] NOTE -- HE IS STATING HOW IMPORTANT THE ECONOMIC REFORM IS TO THE PRIVATE SECTOR AND THE DISTRIBUTION OF WEALTH THAT WILL COME FROM ITS ACTIVATION ---
THE MARKET IN JUST THE BANKING INDUSTRY WILL BRING MONEY TO THE OWNERS OF THEM--- AND THE REST OF THE PRIVATE BUSINESSES AS A WHOLE ---
millionday] The economic expert sees d. Ahmed Abrihi Ali need to form a team of experts with the task to make great efforts to increase oil production because it represents the only source at the moment and to a future period is defined
as well as the formation of another team of experts with the task of assisting the Ministry of Finance to manage the process of reducing expenses and managing the fiscal deficit in the the budget is accompanied by the establishment of a market for religion between the government and companies for bond trading.
[millionday] NOTE -- IN THE BEGINNING OF THE ECONOMIC REFORM THE OIL MARKET HOLDS A HUGE AMOUNT OF % OF FINANCIAL GAIN
AND SO THEY THINK THAT THE SALE OF BONDS WILL HELP EXPAND ON THAT FOR THE FIRST PART OF THE MARKET OPENING
[millionday] Urged Abrihi on the importance of setting targets indicative of the development of the banking sector and financial markets, including the credit to the private sector relative to GDP and non-oil GDP and credit to the private sector provided for the development of the manufacturing industry to the total credit add a credit to the private sector relative to the private sector deposits.
[millionday] NOTE -- THEY WANT TO ENSURE LOANS ARE AVAILABLE TO GET MANUFACTURING PLANTS UP AND RUNNING TO HELP DIVERSIFY THE MARKET
[millionday] Concluded Bureihi Speaking with reference to the importance of focusing on the total value of shares and debt securities relative to GDP and non-oil GDP, as well as attention to the number of bank accounts.
millionday] NOTE -- BANKING SERVICES BRING IN MONEY TO THE GDP AND ARE UNDER SERVICES WHEN THE % OF THE MARKET IS RECORDED
SO THEY WANT TO PROMOTE ANYTHING THAT HELPS WITH THIS DIVERSIFICATION FOR INVESTORS TO SEE AS SUCCESS AND AN ATRACTION AND FOR THE WTO OF COURSE AND WHAT THEY HAVE ASKED
[millionday] As said economic expert d. The appearance of Mohammed Saleh in his speech that the developed countries have passed through several stages until it reached what it is now,
and these stages lies in the development of agriculture, manufacturing and services, pointing out that the services sector is one of the sectors of heavy and costly to the lack of room to invest in it.
millionday] NOTE -- HE IS SAYING THEY CANT BE EXPECTED TO HAVE THIS ALL AT ONCE BUT THE EXPERIENCE THEY CAN GAIN IS VERY IMPORTANT AS HE WAS SAYING EARLIER IN HIS SPEECH
[millionday] Between Iraq of the few countries that 9 percent of the imports of services while there are countries that are exporting poor 7-9 percent of services to the world.
while focused Ambassador d. Hassan al-Janabi, in his speech on the adoption of the principle of quality improvement services, stressing that the figures do not reflect reality,
calling for the adoption of the principle of quality of services, especially in the field of education the fact that this sector is suffering a lot of problems where graduating annually preparation of the university, but
[millionday] they are not qualified to engage in the process of building development on the extent he said. expert in "Investment Authority" d.
Akram Abdel Aziz called for her intervention in the follow-up to the importance of investment projects and efficient performance by relying on the good talent and specialized in the management and implementation of projectsط
[millionday] THEY ARE ASKING THAT ALL ARE HELPED SO THAT THE ENTRY TO THE GLOBE AND WITH THEIR MARKET IS AS SUCCESSFUL AS POSSIBLE AS THEY GROW AND LEARN
clay] do we know where M is and is he gone forever from iraq now
millionday] I WOULD SAY HE IS ON THE GLOBE BUT MAY BE SOMEWHERE TO AVOID THE COURT SYSTEM -- IT IS NOT CLEAR YET WHERE HE IS OR IF HE IS BEING CALLED BACK
[millionday] HE HAS STEPPED DOWN FROM PM
[millionday] Mostafa Hashemi is a sector of food and housing axes key in determining the rates of annual inflation, but the priority of the individual Iraqi lies in the provision of housing first and then the rest of the other things because he is one of the factors of stability,
especially that some areas in the country is witnessing an exodus reason to reduce rates rental rates in solidarity with them and to reduce the Maanathm.ovi
this context called for a researcher economic state just real estate owners across the country to reduce the amounts instead of monthly rent in solidarity with our brothers displaced people to relieve their shoulders.
millionday] NOTE -- THE RENT OF REAL ESTATE IS GOING DOWN AND NOT JUST FOR THE DISPLACED BUT FOR THE DISPLACED TOO
[millionday] said in a statement (morning) that the current stage, what is going through the country conditions require everyone to unite and not to exploit the situation to gain the financial benefits at the expense of the displaced and affected.
confirmed that the high level of prices, rent real estate phenomenon should stand then and review the causes and reducing its repercussions, especially on low-income people,
noting that the sector index shelter and housing at the Ministry of Planning and the Central Bank did not witness or down a decline for a long time within the income indicators and
[millionday] Alanfaq.waodan just that the percentage of spending in the housing sector and shelter decreased in 2007 from 29 percent to a percentage of 23.5 percent in 2012,