Millionday News 7/18/15 Part 1 of 2
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Warned Economist Salim Al-uqaili, Saturday, from growing the value of foreign currency in Iraq at the expense of local currency, adding that fiscal and monetary policy still chaotic.
He said Al-uqaili/information/agency, that "the Iraqi market is now open to world markets directly without restriction and this will lead to the entry of foreign currency to the country, which would make the Iraqi currency in reducing and worsened", pointing out that "all Iraqi traders prefer the dollar or the euro and Sterling on the currency."
Millionday: NOTE -- READ THAT TWICE
Millionday: IRAQI MARKET IS NOW OPEN TO WORLD MARKETS
Millionday: NOTE -- THE POINT HOWEVER IS THE WARNING TO MOVE FORWARD WITH POLICY SO THE DINAR DOES NOT CRASH DUE TO LACK OF VALUE ---
Millionday: He said Al-uqaili, that fiscal and monetary policy in the country remains chaotic and must be processed before the deepening foreign exchange ", noting that" external works to make the Iraqi currency in low mode versus other currencies to achieve specific objectives.
Millionday: NOTE -- must be processed before the deepening foreign exchange ",----PROCESSED -=== INTERNATIONAL EQUATION -- PRICED
Millionday: He noted that "the Central Bank not clear this aspect and it should develop mechanisms to ensure the protection of the Iraqi currency vulnerable to currencies to maintain their strength.
Recall that the Iraqi currency to suffer from significant deterioration in value against foreign currencies, namely the us dollar./
Millionday: SO -- THE WARNING GIVEN TODAY WAS TO HURRY TO ACTIVATE POLICIES SO THE DINAR DOES NOT LOSE ITS VALUE --- A MARKET ECONOMY MEANS SUPPLY AND DEMAND DRIVES IT SO ---
THE DINAR IS A PRODUCT TOO AND ALL PRODUCTS WILL LOSE VALUE IN MONEY AND CONFIDENCE -- THIS IS HUGE AND AS WE OFTEN SAY -- A RISK THAT WE DEPEND THEY WONT TAKE
thomas1 Millionday: HOW can they be open with worthless dinar
thomas1 Millionday: am miss something ??
thomas1 Millionday: not being rude either just asking
Millionday: THEY HAVE STATED THAT TRADERS ARE WANTING TO USE US DOLLAR OR EURO DUE TO DINAR VALUE --- GOOD QUESTION
Millionday: THOMAS THIS ADDS PRESSURE TO CBI
GrannieAnnie: What does "low mode" mean?
Millionday: GRANNIE -- LOW MODE -- HOLD PLEASE
Millionday: >>>He said a "political akili, finance and cash in the country remains chaotic and must be processed before the deepening foreign exchange", noting that "external works to make the Iraqi currency in low mode versus other currencies to achieve specific objectives.
Millionday: GRANNIE -- MEANING THAT THE VALUE CAN NOT BE HELD DOWN LOW PAIRED TO OTHER CURRENCIES –
THEY NEED THE POLICY SET TO SUPPORT THE DINAR AND RELEASE ITS VALUE AND THE INTERNATIONAL RATES WITH THE DINAR BEING USED IN THE INTERNATIONAL MARKET --- PER PLAN ACCORDING TO REPORTS FOR YEARS IMO
tubbyone: So, if they are at this stage, does; amnesty, F16s, new Dowa party candidate first HCL payout, completion of decentralization plan, security, stability, or anything else factor in at this point IYO? It's like the cart before the horse.
Millionday: IN MY OPINION -- THERE ARE MANY THINGS THAT ARE NOT DONE YET AS IN MANY COUNTRIES –
THE ECONOMIC REFORM IS NOT RELIANT ON THOSE LAWS AND IT CAN MOVE FORWARD WITH THE LAWS BEHIND –
I DONT SEE LACK OF VALUE IN THEIR CURRENCY AND LACK OF POLICY A POSITIVE TO MOVE FORWARD WITH ----
THESE LAWS YOU MENTIONED SHOULD BE RIGHT AROUND THE SAME TIME ACCORDING TO REPORTS -- HOW IT PLAYS OUT WE WILL SEE
slh5282: WITH THE VALUE OF THE OIL AND THE OTHER COMMODITIES, HOW CAN THEY HAVE A LOW VALUE WHEN THE ENTIRE WORLD KNOWS THE VALUE AT CURRENT IS SIGNIFICANTLY UNDERVALUED, WOULD THE IMF ALLOW THAT TO HAPPEN?
Millionday: I DONT SEE THE COUNTRY OPENING UP TO THE WORLD MARKET WITHOUT TARIFF AND CUSTOMS ACTIVATED ---
I WOULD SAY IT IS HUGE TO CALCULATE THE DINAR FOR IRAQ TO COME OUT IN VALUE AND CONFIDENCE TO THE WORLD -- I WOULD THINK THAT MANY WOULD NOT ALLOW IT NOT TO BE DONE ---
WTO--WORLD MARKETS--SHAREHOLDERS-IMF--WORLD BANK--THE ISLAMIC BUSINESS COUNCILS -- ETC ETC
Millionday: THEY MAY HAVE JUST LAUNCHED TRADE AGREEMENTS AND EVERYTHING IS STARTING UP --- WE HAVE TO SEE ---
quicktolegit96: Urgent .. Mr. Ammar al-Hakim calls for rebuilding state structures and get rid of the bureaucracy and fight corruption - ANYTHING ON THIS - Here we have a supreme religious leader demanding that an end to the proxy positions in the government. Could be a reference to the CBI gov???
Millionday: YES -- IT HAS BEEN REFERENCED TO HIM ACCORDING TO WHAT I HAVE READ HE HAS BEEN DEMANDED TO BE REMOVED ---BUT IF THIS IS IN REFERENCE TO HIM I WOULD HAVE TO GUESS –
IMO IT IS REFERRING TO THE LAYOUT OF THE GOV AND REFERENCING THE REMOVAL OF THOSE THAT WERE WITH MALIKI --MANY HAVE BEEN CALLED WITH HIM AFTER APPEAL OF CHARGES WAS DENIED IN INTERNATIONAL COURT --
Millionday: He warned the Council of Ministers for Economic Affairs Adviser appearance of Mohammed Saleh, Saturday, from excessive borrowing because of a lack of liquidity, and stressed that it would be a "heavy burden" on the generations, as called for borrowed funds invest in investment projects generate direct income.
He said the Council of Ministers for Economic Affairs Adviser appearance of Mohammed Saleh in an interview with the (long-Presse), that "excessive external debt without development would be a heavy burden for generations", calling for "the borrowed money was spent on direct investments generated income."
Millionday: NOTE -- SALEH IS MAKING IT CLEAR HERE THAT THE FUNDS BORROWED MUST PRODUCE REVENUES SO A DEFICIT IS NOT LEFT ----THE PROJECTS WOULD BE PUBLIC ---
Millionday: Saleh added, "The borrowing must be heading towards optimization of growth in GDP is reflected positively in the event that Iraq's economy."
The representative of the religious authority in Karbala Ahmed net student, on Friday, government agencies to make greater efforts in supporting and assigning fighters in combat zones against "terrorism", as warned of "borrowing from abroad Project" before exhausting all solutions at home, criticized the weakness of the government measures in the fight against financial and administrative corruption in government institutions.
Millionday: NOTE --- THEY NEED TO BE VERY CAREFUL AND NOT USE RESOURCES WITHOUT GETTING ANYWHERE IN GROWTH WITH THE FUNDS ----
Millionday: NOTE -- THE RELIGOUS AUTHORITY REP IS STATING THAT THE GOV IS NOT FIGHTING HARD ENOUGH TO STOP ECONOMIC FRAUD IN GOV -- AND RESOURCES ARE NOT EXHAUSTED
Millionday: The World Bank in (July 9, 2015) approved, a new project for Iraq aimed at the reconstruction and rehabilitation of infrastructure destroyed by conflict in the country and restoration of services in the government-controlled areas,
and among the assistance program of $ 350 million, confirmed that the program is part of a larger program will be implemented over five years in the provinces of Salahuddin and Diyala.
The Kurdistan Alliance counting, in (July 2, 2015), the terms of the World Bank in exchange for lending to Iraq "weights" to the shoulders of the Iraqi citizen, as he emphasized that the solution to the problems with the Arbil "will provide greater amounts of loan money."
Millionday: NOTE -- KURDISTAN IS STATING THAT SUCCESS IN ARBIL WILL GENERATE FUNDS AND THEY GO ON TO REFERENCE THE LOANS FOR DEVELOPMENT FROM THE WORLD BANK WERE FOR ROADS -BRIDGES ETC (INFRASTRUCTURE)
Millionday: The Finance Minister Hoshyar Zebari search, in (the first of July 2015), with the Director of the Iraq Programme and the World Bank team line and programs of the bank to provide a loan for Iraq,
and with the ministry showed, that the loan would be worth more than a billion dollars allocated part of it for the reconstruction of the liberated areas of (Daash), confirmed that the government will take remedial action to avoid wastage and the rationalization of expenditure.
Millionday: NOTE -- ZEBARI ETC TEAM STATED THAT THE FUNDS WOULD BE USED WISELY
Millionday: The Parliamentary Finance Committee confirmed, in the April 30, 2015, they are passed to the government borrowing to fill the budget deficit and meet the necessary requirements under the state of war with "terrorism",
and as pointed out that Iraq will receive a value of three billion and 400 million dollars of IMF loans and the World Bank, revealed a tendency to privatize the stalled viewing of Astosmar.
okan World Bank government projects revealed, in the April 29, 2015, about his quest finance development projects in the areas restored Iraqi forces from militants (Daash), it returned to economic growth as an important part of the solution to political problems which "plagued the region."
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