KTFA Members "News and Views" Thursday 4-2-2020

KTFA:

DELTA:   THANK YOU DON MY BROTHER ....CBI MIGHT OPEN FOR BUSINESS ON 04/05 

Don961:  Central Bank: We will continue to auction the currency to support trade and import food

2020-04-01 Follow Iraq:

Today, Wednesday, the Central Bank of Iraq called private banks and exchange firms to take a responsible role in light of the current stage, indicating its continued monetary and financial policy.

A statement seen by Yassin Iraq said, "The efforts of the various institutions in our country to fight the Corona epidemic and get out peacefully from this crisis join together," calling on "banks, exchange companies and electronic payment companies to take their responsible role at this stage."

He added, "Although the curfew has affected the activities and actions of all official institutions, including the Central Bank of Iraq, we have taken the initiative to employ our cadres in order to sustain the payment of salaries and finance of food, agricultural, medical and all necessary materials," stressing that "there is no change in its policy in financing Trade and imports, which will resume after the ban is fully lifted.

With regard to the next stage, the statement stated that “the bank will begin to enhance bank balances abroad through the foreign currency sale window, according to a schedule of working days and according to the requirements of the situation, and that is to be reported first, for the purposes of financing the credits of importing foodstuffs, agricultural supplies, medical materials and goods necessary for the country and citizens.” .  link

Don961:  If we had honest politicians and officials: We would have asked them to rationalize the salaries of the private grades and the Raafawi people and cut them in half.

last updated: April 1, 2020 - 11:56 am

 Written by: Mahdi Kassem

According to the latest news of oil price fluctuations, it fell to the worst level, which is $ 17, which is the most dangerous level ever for the drop in oil prices so far, at a time when the state’s treasury in its public financing relies only on oil resources, and from here we can imagine the great critical financial deadlock that Iraq is currently going through

And above that, the Green Zone thieves watch over this disastrous financial situation, without taking any radical or necessary measures that would control or rationalize this financial crisis and reschedule it according to the necessary priorities until the oil prices rise again, especially from the point of view In the expenses allocated to m An operating adulteress who consumes and absorbs seventy percent of the general budget according to statements of specialists and insiders with economic experience that includes this approximate and staggering percentage, especially as the lion's share is taken by the free salaries of the so-called “special grades” as well as the imaginary salaries of “Al-Rafhawi” also. ,

As well as Three or four retirement salaries for one “Islamic” Mujahid !! From Islamic politicians who take the retirement of “Mujahid and retired as“ jihadist Rafhawi ”in Saudi Arabia, and the retirement of a member of parliament and finally an official in the state retired at the same time, and perhaps a salary or refugee retirement as well, as was revealed in the case of Ali Al-Alaq previously, which was exposed by Danish newspapers in Then !!

Therefore, these free and unlawful salaries must definitely be reviewed, neither religiously nor positively, but rather the process of scheduling and sifting them according to the actual legal and service entitlement and the specified time for referral to retirement, or even reduced to half - at least - for the purpose of providing salaries to the rest of the employees and employees Holders of temporary contracts as well as families who live on the social security network ..

It remains to say that an unknown number of people with special grades - and here we do not mean absolute generalization - are not only receiving fictional retirement salaries, but they have had golden opportunities to carry out theft and embezzlement through companies and projects fake or lagging, and that when they were operating political sites Influential or sensitive positions that allow them to be involved in widespread corruption.

When some rightly ask: Where did the hundreds of billions of dollars in public money go, it can be quietly answered:

Much of it has gone into the pockets of some of the “special ranks”.

That is why these people can live comfortably even without fanciful and big retirement ..    link

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Samson  An Iraqi consultant returns the high price of the dollar to two workers and sets the date for its stability

2nd April, 2020

The economic advisor to the Iraqi Prime Minister, Mazhar Muhammad Salih, confirmed on Thursday that the curfew and the Corona virus crisis are behind the rise of the US dollar exchange, the imam of the Iraqi dinar. The exchange rate of the dollar in Iraq was 127 to 128 thousand dinars per 100 dollars.

Saleh Al Shafak News said, "The process of increasing the foreign exchange rate of the Iraqi dinar always occurs during official holidays," noting that "this is a natural and expected thing due to the current conditions, curfews and the Corona virus crisis." He added that "the central bank will take action against violators exploiting the current conditions and manipulating the exchange rates of the US dollar and foreign currency against the Iraqi dinar."

Saleh pointed out that "due to the curfew measures, the market will witness a relative calm and stability in the exchange rate of the dollar in front of the dinar in the coming days," noting that "the exchange rate process will stabilize as it was in the past after the end of the crisis and lift the curfew."    LINK

NanaCarol:  I find this of HUGE interest!

Iobey777:  Wow!!!  Sure hope this means what I "think" it means!!!

GodLover:  This article is interesting. I think we should take note on some quotes in this article imo.
First: they state that an increase in the foreign exchange rate of the dinar always occurs during an official holiday.
Second: the exchange rate will stabilize after the end of the crises (Covid-19) & the lifting of the curfew.

So the million dollar question is...… what past are they referring to? Previous to the Covid-19 epidemic or previous to war imo?  Also there is one Iraqi holiday in June & two in July... per calendar I read from imo.