IQD CALLS CHAT Sunday Evening 8-25-19 Part 1 of 2
IQD CALLS CHAT Sunday Evening 8-25-19 Part 1 of 2
Post From IQD CALLS Chat Room
Xyz Iraqi banking sector under-developed, fundamentally weak
Fitch said that Iraq’s banking sector is under-developed and fundamentally weak, therefore the lenders are not able to provide much domestic financing to the government and the private sector credit to GDP is one of the lowest of any Fitch-rated sovereign.
In a statement, the rating agency said that the two large state-owned banks, Al-Rafidain Bank and Al-Rasheed Bank—which have high non-performing loans and exceptionally low capital adequacy—dominate the sector.
Fitch affirmed B- long-term foreign-currency issuer default rating (IDR) of Iraq with a stable outlook.
Iraq's rating is constrained by an undeveloped banking sector, dependence on oil as well as weak governance and high political risk, however, the rating is supported by GDP per capita above the ‘B’ median, robust foreign currency reserves, a low level of debt service obligations and international financial support.
Fitch expects lower oil prices to lead a renewed worsening of public and external finances in 2019-2021, oil accounts for 85 per cent to 90 per cent of Iraq’s fiscal revenue and almost all export revenue.
Additionally, Iraq scores the lowest of all Fitch-rated sovereigns on the composite World Bank governance indicator, reflecting not only insecurity and political instability concerns but also corruption, government ineffectiveness and weak institutions.
xyz mod less exchange rate not great unless float
Dave tier 1...contractors rate1
Sparky Dave ...any rate that gets me to the beach on a permanent vacation...
Sparky ... you folks can come too...
Dave TRUE THAT!
larrykn GA everyone
larrykn Erbil to joint Baghdad in representation in foreign meetings: Lawmaker https://www.thebaghdadpost.com/en/Story/43747/Erbil-to-joint-Baghdad-in-representation-in-foreign-meetings-Lawmaker
xyz LOP per @kaperoni? <-- ...what do they have in mind?
8-25-2019 Newshound Guru Don961 Article: "Economist: Reprinting the coin will reduce the burden of paper damage"
Quote: "With regard to the possibility of raising the price of the dinar against the dollar, Al-Okaili said, "The central bank is tired of a fiscal policy to keep the exchange rate of the dinar against the dollar unchanged for not entering inflation."
Talking again...appears the CBI is tired of of holding the exchange rate steady/unchanged ...what do they have in mind?
larrykn President receives Nouri Al-Maliki, Hadi Ameri, Salim Al-Jabouri https://www.thebaghdadpost.com/en/Story/43755/President-receives-Nouri-Al-Maliki-Hadi-Ameri-Salim-Al-Jabouri
xyz Bluwolf is back with a THUDder ;Thud - https://www.dinarrecaps.com/our-blog/bluwolf-short-post-emailed-to-dinar-recaps-sunday-afternoon-mr-president
Dave larrykn Think Malikis stirring the pot again....
larrykn View port registers and a half billion dinars daily kairad
Business & money Economy news _ Baghdad General Customs Authority announced Sunday, more than 1.5 billion dinars daily revenue is recorded by the customs border post at Center.
The Commission said in a statement "the economy news received a copy of it, to" view port registers billion dinars and half daily kairad ", stating that" continuing growth in revenue rates in most customs centres come as a natural result of the efforts of the staff working there, as well as Distinct administration during the current period.
She added that "income earned within the account of the Ministry of finance at the Central Bank which is subject to audit of the Office of financial supervision and be registered higher revenue supplemented State budget after oil revenues despite the challenges and constraints and an acute shortage of preparation Qualified staff and a lack of minimum requirements and the customs organs. "
larrykn Dave Maliki is always doing something , he is Iran puppet
xyz Maliki is a toothless dog imho
Dave Being a Conspiracy theorist...creating yet another crisis?
larrykn The reconstruction fund agrees to add's new projects
Reconstruction and building Economy news _ Baghdad Governor of Nineveh Mansour almeraid, Sunday, on the approval of a Fund for the reconstruction of affected areas to add new projects to Nineveh, most notably services contribute to restoring stability.
Almeraid said in a statement obtained by the news, "economy", "intensive meetings held with the affected areas reconstruction fund manager Mustafa HiTi, turhan Mufti Chief coordinating body between provinces was discussing the reality of projects implemented through reconstruction fund in the province Within the investment plan and the German and Japanese loans and address the major problems facing and offer appropriate solutions.
Revealing "approval to fund additional projects for towns affected by the Fund's surplus funds, most notably would be service projects." http://economy-news.net/content.php?id=17555
larrykn 438 billion dinars allocated for infrastructure projects in Baghdad.
Reconstruction and building Economy news Baghdad Ministry of planning approval Baghdad to recruit personnel to launch $438 billion dinars to complete its plan of infrastructure projects, revealing she implemented a number of service projects in outskirts of Baghdad areas to promote the service actually.
Governor of Baghdad said the Algerian farmer quoted by the official newspaper "morning" and "economy" briefed "conservative plan for the current year, many projects included the strategy for promoting service reality especially in relation to infrastructure projects and water and sewer anf finishing project schools As well as "portals development project.
"Those were the approval of the Ministry of planning to spend $438 billion dinars under the development plan for the regions this year, with 219 billion for infrastructure projects, added to 133 billion and 340 million to rehabilitate capital entries actually improve service and implementation of further projects Water and sewer.
He continued that "the amount also will be assigned 86 billion dinars laksaa roads throughout Baghdad," alluding to "preserve the artistic and administrative proceedings initiated for completion of all the requirements of the plan and the insertion of the priority projects".
It was the most important of these projects, the implementation of the four major waterways in Nahrawan, seven fallow and Abu Ghraib district, besides the design laboratory of beards expected sectoral parties the possibility of implementing service projects including sewage project, along with a number of road projects. http://economy-news.net/content.php?id=17552
Dave discussing the reality of projects implemented through reconstruction fund ......
Sparky Dave Malikis Mo is chaos...
Dave Sparky YESSSSSSS!
Dave larrykn almost ?
larrykn ok guys have a great Sunday , I'm back to studying
Dave larrykn hopefully not this stuff
larrykn Dave no I got a new program to trade with and I'm learning how to use it
Sparky larrykn yes, Maliki showed his allegiance yet again... Iranian puppet...
Dave larrykn hopefully not day trading?
larrykn Dave No swing trading
Sparky ...lots of $ to be made via volitiliy...
Dave Sparky esp now.....
Dave bear market.....
Dave fire sales work for me
Sparky Dave ... Monday will make millionaire s...imo
Dave In Reno on Tueday?
Sparky Dave ...still here...thanks for the mustard !
Dave good on hotdogs still?
Sparky Dave yup... can last at least until Oakie's plane lands...
Dave Kap revoked his clearance for landing
Sparky Dave ... I m hoping we can have a hotdog together... I I'll try to save him one...
Dave Sparky 10 yrs from now?
Sparky Dave ... wondered why it's taking so long...
Dave possibly lack of implementation?
Sparky Dave ... absolutely... political will of the Iraqi corrupt...once they figure out they can scam more $, they will be on board...
Sparky Dave ...Iran may see the daylight also...Shia Bros...
Sparky Dave ... transparency through electronic banking, may be our nemesis...post rate change...they will have to re-tool their methodology of corruption...
Sparky xyz ... Maliki has a boatload of MPs in his pocket...imo... therefore, still a dangerous entity...he may be head of Isis, and Hashd...
Sparky ... mercenaries fight for the one that pays the most...
Sparky Ie... soldiers of fortune...
Sparky ... loyalty to greed...
Sparky ...on a higher note, real good golf tour championship being played out, if you like golf...
Dave Sparky have you seen Forbes list on the Iraqi politicians.....>?
Dave Maliki 64 billion usd Talabani 32 Billion etc etc
Dave lots of Iraqi politician multi billionaires
Dave Maliki once quoted"he in glass house should throw no stone"
Dave Mishan Jubouri quoted yes I have received millions usd in bribes
Dave lost his seat and still no arrest on him
Baxter Monday 19 August 2019 1197 Baghdad / Omar Abdul Latif The House Finance Committee has revealed a trend to reintroduce the currency that has been used for decades in the country, while members of the committee suggested pre-empting the coin minting process by "removing zeros" from existing currencies to make small cash classes valuable.
"During meetings and discussions with central bank officials, we stressed the need to re-establish the coins that have been used in Iraq over the past decades, instead of paper that is damaged and printed in large quantities again," committee member Hanin al-Kaddo said in a special statement to Al-Sabah. ".
He added, "The use of metal categories and their descent into trading gives a legal value to the currency," noting that "a number of neighboring countries - exchange rates of their currency are very high against the dollar - yet we find that they have a coin in order to maintain the currency and do not need to order more banknotes, especially the same Small groups." Al-Kaddo expressed surprise at the central bank's policy, which does not favour the introduction of coins in the Iraqi market.
For his part, parliamentary finance member Majid al-Waili said the committee is ready to prepare any legislation requested by the central bank, which could benefit the Iraqi economy and market, including the trading of coins.
"The committee respects the independence of the central bank and its monetary policy," al-Waeli told Al-Sabah, stressing that "the bank has technical autonomy regardless of administrative affairs, and it decides how useful the transition to the use of the coin is."
"Iraq cannot reproduce the experience of other countries in using these currencies, and if it is in the interest of boosting the economy, we can support this trend by listening to the justifications and views of the central bank and then enacting the appropriate laws to continue this monetary policy in The country is going right."
Baxter "All countries in the Middle East and the world have a coin," said Committee member Jamal Cougar, adding that "this type of currency gives strength to its economy."
Cougar told Al-Sabah that he hoped that "stakeholders can strengthen the currency so that small groups have purchasing power if they use coins. "The cost of a coin is more than paper, and it is more difficult for citizens to carry it," said Committee member Dr. Ahmed al-Saffar.
Al-Saffar added to "Morning", that "inflation in the economy prevents the minting of coins and make them trade among citizens," suggesting that "there will be a step to delete the zeros before the process of minting the coin to be there value for small groups against