KTFA Members "News and Views" Sunday Morning 8-25-19

KTFA:

Don961:  Talking again ........ appears the CBI is tired of of holding the exchange rate steady/unchanged ... what do they have in mind ?

Economist: Reprinting the coin will reduce the burden of paper damage

20:14 - 24/08/2019

Information / Special…

Economic expert Latif al-Okaili said on Saturday that the government's approach to reprinting the currency would ease the burden of damage to banknotes in the markets.

Al-Okaili said in a statement to Al-Maalouma that the use of the metal categories and their descent for trading gives a notional value to the currency as it aims to preserve the currency and not need to request more banknotes, especially those with small categories. "This is a negative indicator of the country's economy."

He added that "the government's approach to reprinting the coin will reduce the burden of damage to banknotes in the market and reprinting again."

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."

The parliamentary Finance Committee, on Monday, announced a trend to re-work in the currency and the removal of zeros from banknotes, in order to strengthen the economy. Finished 25 T.  link


Don961:  repetir ... just cuz ...

Parliamentary Finance By Rudaw 19/8/2019

Iraqi coins that were previously in use

.a coin from iraq.jpg

Rudaw - Erbil  

announced the parliamentary Finance Committee in the Iraqi parliament, on the trend to re-work in the currency and delete zeros from banknotes, in order to strengthen the economy. 

"During meetings and discussions with Central Bank officials, we stressed the need to re-operate the coins that were used in Iraq during the past decades, rather than paper that is damaged and printed in large quantities again," committee member Hanin al-Qadu told the official Al-Sabah newspaper. 

He continued that "the use of metal categories and their descent for circulation gives a notional value of the currency," saying that "a number of neighboring countries - exchange rates are very high against the dollar - and yet we find that it has a coin in order to preserve the currency and not need to ask for more banknotes, especially With small categories. "

He pointed to the surprise of the policy of the Central Bank, which does not favor the introduction of coins for circulation in the Iraqi market. 

Ahmed al-Saffar, a member of the committee, said, "The cost of a coin is more than paper money, and it is more difficult to carry it on the citizen." 

He pointed out that "inflation in the economy prevents the minting of coins and make them circulate among citizens," suggesting that "there is a step to delete the zeros preceding the coinage process to be a value for small groups to large." 

The Committee on Economy and Investment in the Iraqi Council of Representatives, revealed in 2014 that the Central Bank completed its preparations for the issuance of coins of seven small categories gradually in a project that takes between four to five years to complete.

The Iraqi currency was abolished in 1991 when the international economic embargo on the country increased the rate of inflation in Iraq by 1000%, and the situation under the economic siege resulted in a large and continuous rise in prices, which destroyed the value of the Iraqi currency and reaching a very low exchange rate, which made Coin and few currency denominations without value. 

It is noteworthy that the Iraqi dinar, which was equal to 3.22 dollars before Iraqs invasion of Kuwait in 1990, its value fell so that the dollar became equivalent to three thousand dinars by 1996, and the value of the exchange rate of the Iraqi currency significantly after 2003, but returned to stability at about 1200 dinars Per dollar.    link

Iobey777:  BINGO!!! There it is again! That “old”rate just keeps popping up! BOOM!! Go ahead and delete those 3zeros!!  IMO, it’s PAST time!!! Time to trim the tree and light the fireworks!!!

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Don961:  Economist: The central bank follows a fiscal policy to keep the dinar exchange rate against the dollar steady

By ahad5 24/08/2019 09:40 PM 

Ahd News - Baghdad

Economic expert Latif al-Okaili, on Saturday, that the government's approach to reprinting the currency will reduce the burden of damage to banknotes in the markets.

"The use of metal categories and their descent for circulation gives a notional value to the currency as it aims to preserve the currency and not need to request more banknotes, especially those with small categories," he said. This is a negative indicator of the country's economy.

He added that "the government's approach to reprinting the coin will reduce the burden of damage to banknotes in the market and reprinting again."

With regard to the possibility of raising the price of the dinar against the dollar, Al-Okaili said, "The central bank follows a fiscal policy to keep the exchange rate of the dinar against the dollar fixed without change to not enter inflation."

The parliamentary Finance Committee, on Monday, announced a trend to re-work in the currency and the removal of zeros from banknotes, in order to strengthen the economy. Finished 8     link

Don961:  Ministers: 8824 cases of integrity before the Iraqi courts

Iraqi Prime Minister Adel Abdul Mahdi

 24 August 2019 06:33 PM

BAGHDAD - The Supreme Council for Combating Corruption held its 17th session under the chairmanship of Prime Minister Adel Abdul Mahdi to review the latest developments, especially with regard to the measures taken in the field of combating corruption by the executive, judicial and supervisory authorities, and follow up the implementation of the recommendations approved by the Council and implement them according to competence .

A statement by the Information Office of the Prime Minister that "the Council reviewed the statistics provided by the Supreme Judicial Council include the integrity cases before the courts before the competent number of 8,824 cases across Iraq and completed 5847 cases of all courts."

The Council stressed "the need to assign the judiciary and enable judges to perform their tasks, especially those related to issues of integrity with the need to resolve quickly ."

The statement added that "the Council discussed a number of topics on the agenda," noting that "the Prime Minister directed the need for the commitment of the Ministry of Oil to implement the recommendations on the file of oil smuggling and the timetable set for this purpose with the follow-up of executive procedures to ensure the elimination of corruption systems in the file Oil . "

The Council reviewed the draft memorandum of understanding with the Iranian side on the file of combating drugs and integrated measures that are in the interest of both countries.

The Prime Minister instructed the relevant authorities to prepare a comprehensive study that includes the aspects of combating drugs, empowering the working cadres, providing equipment and tools, as well as making this draft a basis for concluding further agreements with neighboring and regional countries, as well as bilateral agreements with different countries, and the need to finalize the final draft urgently. And sign these agreements.

The Council also discussed "the report of the Integrity Commission on companies operating in the field of customs clearance at border ports that did not meet the legal requirements and directed the Council to take legal procedures and hold accountable all violators and those involved in this aspect ."

The Cabinet discussed "a set of steps and procedures that enhance transparency and protect public money, which directed the Prime Minister to present them to the concerned parties and complete their requirements in order to be adopted and announced and obliging government institutions to implement as far as they are concerned ."

 The Supreme Council for Combating Corruption welcomed the attitudes of MPs and their initiatives to provide the necessary documents and evidence to enable the supervisory and judicial authorities and support them in the performance of their work. Control of the completion of its work . "   link

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Samson:  Kurdish deputy: Three tough sanctions await Kurdistan if it does not comply with the conditions of Baghdad

25th August, 2019
MP for the Future Movement Sarkot Shams al-Din, Sunday, from the non-compliance of the Kurdistan Regional Government with the conditions and directives of the central government in Baghdad, indicating that there will be three sanctions in the event of non-compliance. 

Shams al-Din said in a statement to the information, that "the Kurdistan region if it does not comply with the conditions and directives of the central government in Baghdad will face a scenario similar to what happened in the previous government of the closure of airports and budget cuts and salaries as well as the closure of the outlets of the region." 

Shamsuddin added, "Kurdistan has a golden opportunity towards joint relations with Baghdad, and therefore their failure to abide by the conditions of the central government will expose the region to the consequences of serious and ominous consequences."  LINK

KTFADinar Recaps 20