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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BGG (Dinar Guru) – Article: “Warnings of severe deterioration of the dinar after the appetite for dollar” This is an OP ED piece…Opinion of writer only…no guarantee of veracity… the big take-away for me was – the author points out a few things that are HISTORICALLY accurate – then says – IN ESSENCE, you can fix it all with currency reform. Quote: “…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…” “...CAN – SOLVE – A – LOT – OF – PROBLEMS…” BOOM!
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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 03-09-17 (most recent listing)
Currency Auctions Announcement No. 3398
This daily currency auction was held in the Central Bank of Iraq on the 03-09-2017
The results were as follows:
| DETAILS | NOTES |
| Number of banks | 34 |
| Number of remittance companies | 11 |
| Auction price selling dinar / US$ | 1182 |
| Auction price buying dinar / US$ | —– |
| Amount sold at auction price (US$) | 165,315,763 |
| Amount purchased at Auction price (US$) | —– |
| Total offers for buying (US$) | 165,315,763 |
| Total offers for selling (US$) | —– |
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.
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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.
Shredd (Dinar Guru) – Article: “Central Bank: the financial crisis behind us and the next few days are promising” Quote: “Iraq will become a country of foreign investment as a result of competing foreign international companies to invest in the reconstruction after the devastating cities recovered from Daesh.” This is a great reminder of the wealth Iraq has and the interest from foreign investment. “Iraq will become a country of foreign investment” — that is for sure and as note, that will become a huge part in the rebuilding of the country. In this same period of time, the stability that is sought by the CBI for their currency reform can then move forward. …this is not an “If” but a “When” regarding the legal tender, globally accepted dinar to become the primarily used currency of Iraq. The immense amount of progress in the banking and investment laws, the protections for investors, the banking customer vetting via KYC, the project to remove the zeros and so many more accomplishments all still stand. None of the progress the CBI and the GOI have made to mature from their past dictatorship have been repealed. Progress has been and continues to be forward.
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…)
IS leader Baghdadi abandons Mosul fight to field commanders, U.S. and Iraqi sources say
By Isabel Coles, John Walcott and Maher Chmaytelli | MOSUL, IRAQ/WASHINGTON
U.S. and Iraqi officials believe the leader of Islamic State, Abu Bakr al-Baghdadi, has left operational commanders behind with diehard followers to fight the battle of Mosul, and is now hiding out in the desert, focussing mainly on his own survival.
It is impossible to confirm the whereabouts of the Islamic State “caliph”, who declared himself the ruler of all Muslims from Mosul’s Great Mosque after his forces swept through northern Iraq in 2014.
But U.S. and Iraqi intelligence sources say an absence of official communication from the group’s leadership and the loss of territory in Mosul suggest he has abandoned the city, by far the largest population centre his group has ever held.
He has proved to be an elusive target, rarely using communication that can be monitored, and moving constantly, often multiple times in one 24-hour cycle, the sources say.
From their efforts to track him, they believe he hides mostly among sympathetic civilians in familiar desert villages, rather than with fighters in their barracks in urban areas where combat has been under way, the sources say.
ISOLATED
At the height of its power two years ago, Islamic State ruled over millions of people in territory running from northern Syria through towns and villages along the Tigris and Euphrates river valleys to the outskirts of Baghdad in Iraq.
U.S.-backed Iraqi forces began an operation five months ago to recapture Mosul, a city at least four times the size of any other the group has held. The biggest battle in Iraq since the U.S.-led invasion of 2003, it has been slow going, in part because hundreds of thousands of civilians remain in harm’s way.
The 100,000-strong Iraqi force fully captured the eastern half of Mosul in January, and commanders began an operation to cross the Tigris and take the western half last month. Progress has since been steady and the coalition says its victory is now inevitable, which would dismantle the caliphate in Iraq.
The intelligence sources point to a sharp drop in Islamic State postings on social media as evidence that Baghdadi and his circle have become increasingly isolated.
Baghdadi himself has not released a recorded speech since early November, two weeks after the start of the Mosul battle, when he called on his followers to fight the “unbelievers” and “make their blood flow as rivers.”
Since then, sporadic Islamic State statements mention attacks carried out by suicide bombers at various locations in Iraq and Syria, but place no particular emphasis on Mosul, despite the city being the main centre of fighting.
Neither Baghdadi nor any of his close aides released any comment on the fall of the eastern part of the city in January.
The group’s presence on Telegram, a social media network that had become its main platform for announcements and speeches, has tapered off. The coalition estimates that Islamic State activity on Twitter has fallen by 45 percent since 2014, with 360,000 of the group’s Twitter accounts suspended so far and new ones usually shut down within two days.
“GAME IS UP”
In what is likely to be a major symbolic victory for the U.S.-backed Iraqi forces, they are now closing in on the area around Mosul’s Great Mosque on the western bank of the Tigris, where Baghdadi proclaimed his caliphate.
More than half of the 6,000 jihadists left to defend the city have been killed, according to Hisham al-Hashimi, the author of the book “World of Daesh”, who also advises the Iraqi government. Daesh is an Arabic acronym for Islamic State.
U.S. commanders sound upbeat and say the battle for the city is now in a late stage.
“The game is up,” U.S. Air Force Brigadier General Matthew Isler told Reuters at the Qayyara West Airfield south of Mosul, adding that some of Islamic State’s foreign fighters are trying to leave the city.
Those left behind to fight, mostly Iraqis, are putting up a “very hard fight” on the tactical level but they are no longer an integrated force, as coalition air strikes took out command and control centres, car bombs and weapon caches, he said.
“They have lost this fight and what you’re seeing is a delaying action,” he said.
Although the loss of Mosul would effectively end Islamic State’s territorial rule in Iraq, U.S. and Iraqi officials are preparing for the group to go underground and fight an insurgency like the one that followed the U.S.-led invasion.
The “caliphate” as a state structure would end with the capture of Raqqa, its de facto capital in Syria, possibly later this year.
Raqqa is far smaller than Mosul, but mounting operations against Islamic State in Syria has been trickier than in Iraq, because the group’s many Syrian enemies have mostly been pre-occupied fighting among themselves in a civil war since 2011.
Nevertheless, Islamic State has faced setbacks in Syria over the past year against three main foes: U.S.-backed Kurdish and Arab militias, the Russian-backed Syrian army, and mainly Sunni Muslim Syrian rebels backed by Turkey.
The last official report about Baghdadi was from the Iraqi military on Feb. 13. Iraqi F-16s carried out a strike on a house where he was thought to be meeting other commanders, in western Iraq, near the Syrian border, it said.
Baghdadi, an Iraqi whose real name is Ibrahim al-Samarrai, is moving in a remote, mostly-desert stretch populated exclusively by Sunni Arab tribes north of the Euphrates river, according to Hashimi.
The area stretches from the town of Baaj, in northwestern Iraq, to the Syrian border town of Albu Kamal on the Euphrates.
“It’s their historic region, they know the people there and the terrain; food, water and gasoline are easy to get, spies are easier to spot” than in crowded areas, he said.
The U.S. government has had a joint task force to track down Baghdadi which includes special operations forces, the CIA and other U.S. intelligence agencies as well as spy satellites of the National Geospatial Intelligence Agency.
But Baghdadi seems to have learnt the lessons from the 2011 capture and killing of Osama bin Ladin, and relies on multiple couriers and not just one, unlike the al Qaeda founder, say U.S. intelligence sources.
He also switches cars during trips, a lesson learnt from the 2011 drone strike that killed Anwar al-Awlaki, an al Qaeda figure in Yemen.
Baghdadi has not publicly appointed a successor, but Iyad al-Obaidi, also known as Fadel Haifa, a security officer under former dictator Saddam Hussein, is known to be the de facto deputy, according to Iraqi intelligence sources.
More than 40 leading members of the group have been killed in coalition air strikes, but the insurgency is likely to continue even if Mosul is captured and Baghdadi and his aides are killed, according to Iraqi security experts.
“There will be other commanders rising because the structure of the organisation remains,” said Fadhil Abu Ragheef, an Iraqi security expert specialised in IS affairs.
(Reporting by Isabel Coles in Mosul, John Walcott in Washington and Maher Chmaytelli in Baghdad; writing by Maher Chmaytelli; additional reporting by Mohammed el-Sherif in Cairo and Kylie MacLellan in London; Editing by Samia Nakhoul and Peter Graff)
Source: http://uk.reuters.com/article/uk-mideast-crisis-iraq-baghdadi-idUKKBN16F1CG?rpc=401&
| CURRENCY | CODE | SELL | BUY |
| US dollar | USD | 1184.000 | 1182.000 |
| Euro | EUR | 1249.830 | 1249.205 |
| British pound | GBP | 1438.442 | 1437.722 |
| Canadian dollar | CAD | 878.664 | 878.225 |
| Swiss franc | CHF | 1169.036 | 1168.452 |
| Swedish krona | SEK | 131.239 | 131.174 |
| Norwegian krone | NOK | 139.626 | 139.556 |
| Danish krone | DKK | 168.134 | 168.050 |
| Japanese yen | JPY | 10.416 | 10.411 |
| Special Drawing Rights |
SDR | 1594.564 | 1593.767 |