Prime Minister Adel Abdul-Mahdi announced on Tuesday (April 30, 2019) the signing of four agreements with Siemens, a German company, worth 14 billion dollars. LINK
MilitiaMan: What does this have in common? 14 Billion things that will stabilize the exchange rate… lol !~ MM
Samson: Central Bank’s safe investment policies have boosted confidence in the Iraqi economy
6th July, 2019 by Samir Nusairi
A source at the central bank said foreign reserves amounted to $ 72 billion, and would rise to $ 86 billion when the Ministry of Finance takes advantage of the rise in oil prices and the payment of $ 14 billion to the central bank, which represent the sad transfers that the central bank during the period of financial crisis suffered Including Iraq, which constituted direct support to the State Treasury and the national economy in the near future when the country was unable to pay the salaries of state employees at the time of the Minister of Finance at the time
Which has had a significant impact in achieving economic steadfastness and thus financial victory in complex circumstances
That the observer and specialist is well aware that access to this rate of foreign reserves is the Central Bank to follow the safe investment policies, which strengthened the international credit position and restore confidence in the Iraqi economy and international banking relations
Underscoring the safety and success of the Bank’s strategy for the years (2016 – 2020 ) achieved .ho achievements in financing activity and activate the initiative to finance small and medium enterprises and raise the ceiling on loans to one billion dinars for each project within the objectives of the initiative in activating the economic cycle and support the implementation of the objectives of the government curriculum in the fourth axis ( Strengthening the economy) to achieve the goal of development banks as the goal of development
In addition to this, the Bank is working on direct Islamic financing for public and private banks. In addition, the expansion of the implementation of community initiatives from the Tamkeen Fund is an effective national experience in integrating the banking sector with society and achieving the goal of social, economic and humanitarian banks. Babylonian monuments on the World Heritage List
The clear evidence that can never be covered is the continuation and maintenance of the exchange rate stability over two years and maintaining the inflation rate of less than 2%.
Thus, the Central Bank has been able to achieve its objectives in its Law No. 56 of 2004, On the stability of the exchange rate. And is now vigorously and effectively pursuing the objectives of strengthening the economy and banks for development LINK
Suzie: I’m not seeing anything that’s getting me too excited, we were excited in June, then the end of June, then July 4th, now looking towards the 14-15th it seems. Also I did not catch anything in Trumps’ speech, subliminal or otherwise that referenced anything towards Iraq in a monetary way at all. Let’s hope Frank and the sources have something further for us Monday
MilitiaMan: there is far more that I am excited about and for very good reason.. imo Here are a few of them that clearly suggest they are raising the value of the IQD and not next year. They would implode from in flation. They are quitting the auctions thus, they have to raise the rate and pronto. Very clear and concise.. imo. ~ MM
“The participants discussed the problem of changing the value of the Iraqi currency and the reduction of the Iraqi dinar and its impact on the Iraqi economy, some describe this reduction as support for the global economy and some see the deterioration of the purchasing power of the Iraqi individual.”
“In conclusion, there were comments from the audience and views and proposals on the decision to reduce the Iraqi dinar. The seminar was attended by Dr. Ihsan Al-Amin, Chairman of the Board of Trustees of Bayt Al-Hikma and a number of prominent personalities in the banking and financial field and a number of academics. ”
Samson: Deposit of intermediary companies
To / All Authorized Banks ( Deposit of brokerage companies to enter the window of sale and
purchase of foreign currency
We affirm our pledge No. (190/5/9) in 2019/5/12 to the necessity of
only one deposit a week
by companies mediating the sale and purchase of foreign currencies for the
purpose of buying the dollar from the window of buying and selling foreign currency
Hengist: With all due respect to your thorough and lucid analyses, there have been so many ‘have to’, ‘must’, ‘can’t not’ proclamations by others that I place the change in the auctions in the same category..,,,
MilitiaMan: Thank you for the kind words. Let me get this straight if I may.
A change to auctions and the Iraqi Dinar is forthcoming per the CBI. So, with a reduction in the auctions that will have a profound effect on an end result being massive inflation to come if there is no rate increase at this stage of the process is put in category of dismissal?
That is if it is not addressed accordingly and timely, it may be devastating to the economy, is to be put in a category of effectively being that we have heard this or that before and so many times it is meaningless? Is that right?
As at this stage. I don’t think we have ever been in such a good place as we see now from what they CBI is telling us.
They clearly state the positive effects of the reduction in the Iraqi Dinar is to be good for the global economy. They are telling us imo they have to raise the rate and in fact they go so far to state they made the decision to do so already.
By doing a reduction in Iraqi Dinar (raising the value) they have to stop the auctions as we know them. That is flat out pressure, if not mainly saying get ready we have to now raise the rate internationally, as we decided to reduce the auctions to once a week by reducing the Iraqi Dinar.
The CBI is talking powerfully with what they are saying. So, if one can’t get excited from that, then put this study to bed and wait to see it on main stream TV.. lol – imo ~ MM