Central bank: Iraq overcome the financial crisis and the coming days bode well
The Central Bank of Iraq adviser Walid Idi, that Iraq exceeded the financial crisis, pointing out that the coming days bode well.
He Idi said in a statement that the crisis austerity and fiscal deficit as a result of lower oil prices in the last period has ended, adding that, Iraq will become a country of foreign investment as a result of competing foreign international companies to invest in the reconstruction of liberated cities, and pointed Idi that the entry of foreign Iraq’s companies reflect a positive outlook It will contribute to attracting major countries to rebuild the liberated areas and the holding of joint agreements for investment as well as trade exchange and activate tourism and oil industry.
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The secret of freedom lies in educating people, whereas the secret of tyranny is in keeping them ignorant. – Maximilien Robespierre
Loop (Dinar Guru) – Quote: Article quote: “The local market has seen a marked decline in the dollar against the Iraqi dinar and by five thousand dinars to the category of $ 100.” marked decline by five thousand dinars to the category of $ 100. That is all it is saying. Not that the exchange rate 5000 dinar to 100 dollars. This is right in line with the CBI’s statement made on Wednesday. [so what does that mean…?] It means that the CBI has put a system into place that allows them…control of the stability of the dinar in the market place. This systems removes the middlemen and gives them end to end transparency for all transactions. This is exactly what the IMF wants them to do. Very important move on their part.
Read More: http://www.dinarupdates.com/observer/
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Source: Al-Maliki away from the leadership of the party invitation list and give it to “Abadi”
Follow-up / Sky Press … Political source revealed, Sunday, away from the secretary-general of the Dawa Party, Nouri al-Maliki for the leadership of the electoral list of the party and Tukelha Prime Minister Haider al-Abadi because of his deteriorating health.
The source said in an interview I followed “Sky Press,” that “the secretary-general of the Dawa Party, Nouri al-Maliki in poor health is likely that he will be out of the leadership of the electoral list to call, while Point out that entrusted leadership of Prime Minister Haider al-Abadi in case he became their kind of compatibility.
The source added that “Nuri al-Maliki in poor health, according to advice from doctors he must stay away from all Maysbb him tension and stress, noting that” al-Maliki in the process of making a decision to stay away from the noise of the coming elections and appoint these tasks to Linda in the call and was succeeded by the party in the Prime Minister Haider Abadi. ”
The source added that “the financial Sitferg management business advocacy and logistics party in proportion to the health and place.”
The dollar continues to decline against the Iraqi dinar in local markets
Roudao – Sulaymaniyah – continues to dollar prices of landing in front of the Iraqi dinar, due to visit in supply by the Central Bank of Iraq, part of its policy to raise the value of the dinar.
The correspondent Roudao media network in Sulaimaniya, Shadia Messenger, the exchange rate of US $ 100 price of 125,700 Iraqi dinars, on Sunday, March 5 , 2017, while the price was 125.750 thousand dinars on Saturday.
The news reporter Roudao exchange houses for the owners as saying that the current price of the dollar is not appropriate and does not have to deal in dollars increased in the markets.
The decision of the Finance Committee of the Iraqi parliament, Ahmed Haji Rashid, told the network Roudao media, if the central bank raises $ 160 million a day in the market at a price of 119 thousand dinars at a rate of 5 days a week to raise the value of the dinar, and expected to exchange $ 100 price drop to 122 thousand Iraqi dinars.
Iraqi Dinar/Dollar auction 03-05-17 (most recent listing)
Currency Auctions Announcement No. 3394
This daily currency auction was held in the Central Bank of Iraq on the 03-05-2017
The results were as follows:
| DETAILS | NOTES |
| Number of banks | 32 |
| Number of remittance companies | 13 |
| Auction price selling dinar / US$ | 1182 |
| Auction price buying dinar / US$ | —– |
| Amount sold at auction price (US$) | 162,332,926 |
| Amount purchased at Auction price (US$) | —– |
| Total offers for buying (US$) | 162,332,926 |
| Total offers for selling (US$) | —– |
More: http://dinarupdates.com/observer/
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BGG (Dinar Guru) – Article: “Parliamentary Finance’s “approach” to postpone the project to delete the zeros until further notice” Quote: “…Finance Committee in the House of Representatives announced the postponement of the project to delete the zeros that was planned years ago to apply until further notice.” …that almost has the “smack” of her pointing out that this WAS PLANNED – then POSTPONED until further notice. Which is…accurate…they aren’t saying further notice isn’t tomorrow, next week or next month either. Why would they be “rehashing” a decision that was put off back in 2012 – right now? Over a concept that is DIRECTLY germane to their forward economic progress. In fact…it is a little weird this is coming out now – right near the end of Mosul… or in this “first part of 2017 timeframe” – why now? I think it’s obvious.
Read More: http://www.dinarupdates.com/observer/
Iraq signed a memorandum of understanding with Britain on the loan by 10 billion pounds
Economy News / Baghdad … Iraqi Information Office of the Ministry of Finance, said on Sunday that Baghdad will receive loans worth 10 billion pounds from Britain to finance infrastructure projects. ($12,297,000,000.00 USD -LOOP)
The Iraqi foreign minister, Ibrahim al-Jaafari, has called, in late February, the international community to help his country rebuild operations that accept them after the elimination of al Daesh.
Jaafari said that Iraq needs help in providing humanitarian services areas liberated from al Daesh terrorist, as well as land reclamation and mine removal.
The Iraqi Foreign Ministry expressed the hope that the international community assist Iraq similar project for “Marshall” a project that contributed to the construction of Germany after World War II.
Adam Montana (Dinar Guru) – I mentioned in my weekly…update that I’m getting a bit giddy right now. There’s a good reason for it! We are at a tipping point, and this is going to either make us some money, or we’re going to be walking away soon. Either way, I think all of us will be happy. Either we make out like bandits or we just say “we enjoyed the ride”, right?! Based on what I’m hearing from my people, I am leaning toward the bright side of it.
Read More: http://www.dinarupdates.com/observer/
Warnings of severe deterioration of the dinar after the appetite for dollar
BAGHDAD / JD / .. Despite the reassurances launched by the Iraqi government and the central bank about the threats to the country as a result of lower oil prices, the economic crisis, but concerns about the local operation deterioration continues after severe turnout by the citizens and the owners of capital to buy the dollar and Tknezh in their homes, rather than banks.
And see a number of experts and specialists in the financial and banking affairs that this process will confuse the economic situation in the country, considering that the offer will be reduced for the dollar with an increase in demand and thus will lead to a rise in price significantly and this is what will lead to the deterioration of the national process.
He says banking expert Abdul Mohsen Ali, that there is huge demand to buy the dollar, whether by citizens or merchants and owners of capital, prompting the central bank to sell larger amounts in the auction to achieve a balance in supply and demand in the market, but this process may be temporary and processors in if it continues harm the economy certainly, in terms of decline in monetary reserves and the decline of the dinar exchange rate.
He said the agency / KD / This turnout comes for several reasons, including the development of the country unstable security and political and statements by some officials on the financial crisis and much talk about the inability of the government to pay salaries and that may lead to the bankruptcy of the country all these things have created a kind of fear among the citizens not to retain dinar replaced the currency of the dollar, in addition to that some of the citizens and the owners of the money prefer the dollar for the dinar for easy transfer and retention of the fact that the money supply will be less, and that’s what we confirm it previously necessity currency project to delete the zeros of the three of the currency, which he can solve a lot of problems.
He noted that the dollar continued to withdraw from the market will lead to significant economic problems in terms of its high price levels and significant contrast will lead to a decline in the dinar exchange rate and dramatically and this means the deterioration of the national currency and the lack of value.
He called banking expert government and central bank to launch awareness programs and assurances for citizens and encourage them to bid farewell to their money in banks rather than turn it into a dollar and this will refund the benefit of the citizen and the country in general.
And saw the US dollar exchange rate in the recent significant rise in front of the Iraqi dinar even reached more than 131,000 dinars per $ 100, but after the measures taken by the central bank sold the largest dollar amounts in the auction led to a portion of the balance to the principle of supply and demand until it reached the market price of the dollar to 126,000 thousand dinars per 100 Dolar.anthy / 8 /
Read More: http://www.dananernews.com/news?ID=8108
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The following .PDF is the review by RCookie of the IMF board’s publishing of Iraq’s SBA (excellent info) – He would have wanted you all to have it.. posting the whole .PDF was the only way to get it on here. Enjoy. BGG
Robert Cook CSW CSS CBP CST CTC
Iraq:
IMF EXECUTIVE BOARD COMPLETES FIRST REVIEW IRAQ’S STAND-BY ARRANGEMENT (45 pages…)
Interior Minister unveils new strategy to maintain security and stability nationwide, (Details)
East News – Interior Minister Qassim al-Araji, on Sunday, a new strategy to maintain security.
He said in a speech during the opening of the security and defense exhibition in Baghdad, said that ‘there are concerted efforts to restore security and stability in the general areas of Iraq, and we have a new strategy to maintain security we’re working on now.’
Araji said, that ‘strategy involves serious steps to combat terrorism and organized crime and operations of theft and robbery.’
Investment wealth deactivated
Economy News / Baghdad … Yasser incumbent: Within the trends of economic reform, which the government adopted the targeting of companies and public and government institutions which have become stalled high-mandated production without any mention.
At a time when the government is seeking to activate the productive sectors and the adoption of domestic production to reduce dependence on imports and narrow the hard currency out, you find on the other hand a significant decline in the performance of institutions and companies that are not of an economic feasibility but only consumer of government revenues.
What is the solution about this phenomenon?
The truth is that the solution lies in giving the Iraqi private sector interest and full support for the promotion of productive sectors, and is known for the private sector that he does not accept the loss but to turn a profit is his obsession to achieve this production abundance and quality in the market balance and breathing.
As part of the government’s attention to this aspect and in order to activate the productive sectors across the Iraqi private sector seminars and foreign year budget has ensured 2017 in Article 14 of the Budget mentioned law the following: ministries and departments not associated with the Ministry is working on the expansion of open your door for investment and partnership with the private sector up to its terms of reference, coupled with approval of the Council of Ministers.
This gesture included in the budget year 2017 is a golden opportunity for the private sector to prove his worth and his ability to manage the economic file next production to the fullest.
This article is also no 14 of the General Budget Law allow for the investment of vast fortunes Off represented public companies that surpass the 200 companies in various disciplines can by investing its production capacity and human make a quantum leap in domestic production, which in turn will address the multiple in the national economy imbalances through moving the market, and the absorption of part of the deadly unemployment, reduce dependence on imports and maintain foreign currency reserves, which goes mostly for the purposes of importation.
Here we have to be concerned authorities begin invoking Article 14 of the general budget for 2017, as they have a significant role in addressing the financial crisis faced by the country’s law.
By contrast, the Iraqi private sector has to move very hard to put pressure on the relevant authorities to invest in these companies in addition to carrying out any private sector partners to creating and attracting foreign investment to ensure the success of the transformation required.
Otherwise there is no solution in sight to the problem of companies that have become a working pressure and weight on the budget for not utilize them the solution lies in either converted into joint stock companies or privatized so economists believe the best solution to it.
Read More: http://www.dinarupdates.com/showthread.php?47118-Investment-wealth-deactivated-3-5
| CURRENCY | CODE | SELL | BUY |
| US dollar | USD | 1184.000 | 1182.000 |
| Euro | EUR | 1229.584 | 1228.969 |
| British pound | GBP | 1455.018 | 1454.290 |
| Canadian dollar | CAD | 881.083 | 880.643 |
| Swiss franc | CHF | 1150.073 | 1149.498 |
| Swedish krona | SEK | 129.489 | 129.425 |
| Norwegian krone | NOK | 136.601 | 136.532 |
| Danish krone | DKK | 165.398 | 165.315 |
| Japanese yen | JPY | —– | —– |
| Special Drawing Rights |
SDR | 1582.534 | 1581.743 |