News, Rumors and Opinions Friday 2-19-2021
TNT:
Tishwash: To the executive branch to the Central Bank of Iraq
Proposing the need to amend the exchange rate of the Iraqi dinar towards the US dollar
1 - The devaluation of the national currency of the Iraqi dinar in favor of the US dollar and making the exchange rate of the dinar against the US dollar at 1450 is an unfair, ill-considered and urgent exchange rate, which is against the interest of the Iraqi people and economy, and that the first beneficiaries of that are regional and international countries and Arab and foreign companies And the ruling political elite ...
As the wealth of the Iraqi people is bought cheaply according to the new exchange rate, and this means systematic plundering ((the law)) of the wealth of our Iraqi people, at a very low price, and he played in achieving this the failure of the Minister of Finance and the President of the Central Bank of Iraq according to Guidance from the International Monetary Fund and the World Bank.
\2 ___ that the ruling authority today represents and applies an extremist and brutal neoliberal approach according to the directives of the International Monetary Fund and the World Bank, and that today's exchange rate of 1450 is in the interest of the ruling political elite, in the interest of the leaders of the parties, blocs and political currents influential today in governance and in cooperation and coordination with the administrative and bureaucratic bourgeoisie, the shadow economy forces, and the mafia-brokers ... so these people have acquired the wealth of the Iraqi people and have become millionaires and billionaires, in the American dollar and the Iraqi dinar, and with this stolen money, state institutions will be purchased from factories and large factories, oil and gas, agricultural land, fuel and electricity stations, and other state assets at a very low price and without oversight, and the well-known popular proverb applies (((( He eats without supervision and calculation.
(this is what we would love to see)
3 - A new exchange rate is required for the Iraqi dinar towards the US dollar, which is one dinar equals one US dollar. This requires deleting the three zeros, for example, the 1000 dinars become Iraqi dinars, and the million dinars (1,000,000) a thousand Iraqi dinars (1000), and according to the new exchange rate 1000 dinars equals 1000 US dollars, and this is in the interest of the Iraqi citizen and economy as a first stage and work in the future to return a new exchange rate Each dinar equals $ 3, as it was previously.
4— That this can be achieved because Iraq is rich in its natural wealth of oil, gas, gold and phosphates ... .. In addition to that, there is a realistic possibility to develop agricultural and industrial production ..., that is, to create material production in order not to import and this will be in the interest of the national economy by not buying goods Food, medicine, and durable goods in hard currency, and then Iraq can export goods and services abroad and obtain hard currency, as well as work to retrieve the stolen money and return it to the Iraqi people, which range between $ 850-trillion. One dollar for one US dollar
5- The Iraqi people, public and professional organizations, national, progressive and left-wing personalities, and professors of Iraqi universities and institutes, must demand a new exchange rate adjustment in the interest of the national economy link
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Tishwash: Monitoring important economic achievements of the Al-Kazemi government opens a new gateway of hope for Iraqis
The Al-Kazemi government is striving to address the economic challenges and manage the legacy and multi-dimensional crises that the government has received at all levels. Which represents the main challenge facing Iraq in this period, which is considered standard in managing these crises.
Everyone remembers the biggest crisis, which is the salary crisis; In the fourth quarter of 2020, expectations indicated that the Iraqi economy was heading towards an inevitable economic collapse, with the continued decline in revenues that reached the point of defaulting to pay salaries on time, which raised concerns among the Iraqi citizen.
However, the measures that the government adopted during the months of May and June were able to overcome the biggest crisis threatening the security and stability of the Iraqi citizen.
The Al-Kazemi government began preparing the white reform paper, as well as drafting the 2021 budget and including it in the economic visions in the white paper. One of the first reform measures was to reduce the exchange rate of the Iraqi dinar against the dollar, to stimulate local production, address the huge deficit in the budget, and put an end to the illegal profit from currency auction sales, which some if not most of its revenues reach the pockets of the corrupt.
The challenges facing the Kazemi government are immense, including the sharp drop in oil prices and the resulting severe economic hardship, the COVID-19 epidemic, the disintegration of Iraqi state institutions due to widespread corruption, militias with cross-border loyalties, poor planning for economic development, and a poor environment. Business activities and budget problems.
This is clearly reflected in a sharp deterioration in public services, widespread unemployment, and an increase in the number of Iraqis who remain below the poverty line. In spite of the enormous problems that Iraq faces, the Al-Kazemi government created opportunities and invested them to face these challenges with the least possible losses. It is an important reason to have gained national, regional and international attention alike. The success of the Kazemi government - a consensus scarcely available to any of his predecessors. Moreover, the Iraqi public showed, although still waiting for the most, signs of positive confidence in the initial decisions of Al-Kazemi through the economic and strategic studies of the Rawabet Center for Economic and Strategic Research and Studies. In terms of monitoring and analysis of the economic situation of Iraq, and since Al-Kazemi assumed the presidency of the government, the Rawabet Center for Research and Strategic Studies has monitored tangible and tremendous achievements in a record period and amid conditions that are almost harsh and ineligible for achievement or to improve a semi-destructive situation so that we are fair in the description and in a record period of time compared to the governments that preceded the Al-Kazemi government, It provided a stimulus package to restart the economy.
The Al-Kazemi government has published the White Paper, which is the real reform step for a fragile and destroyed economy, which is a comprehensive program with a clear roadmap to reform the Iraqi economy and address the challenges, as it aims to “restore balance to the Iraqi economy by taking appropriate future steps to develop it in a dynamic, diversified way that creates opportunities for citizens to live A decent life by proposing a set of comprehensive political reforms, and this requires courage, political firmness and acceptance by the Iraqi people.
The “White Reform” paper focused on the following important points:
Redefining the role of the state in the economy and society in implementation of the principles of the constitution.
Introducing radical improvements to the state’s management of the public financial system.
Creating the appropriate environment to create a competitive dynamic dynamic economy.
Restructuring the financial and banking system.
Addressing the factors that led to low labor productivity in Iraq.
Protecting the economically poor during and after implementing reforms.
Significant achievements in the economic side and in order to develop the performance of the Iraqi financial sector and improve technology in the banking sector, Rafidain Bank has contributed to reconstruction and investment projects with strategic plans to improve infrastructure, health, education and tourism.
The Ministry of Finance has contributed by providing quick loans to small and medium companies and facilitating the financing of investment projects aimed at confronting and easing the housing crisis that the Iraqi citizen suffers from. Providing loans of 100 million dinars from Al-Rafidain Bank and these loans to employees looking for housing and 50 million dinars as loans to others to buy housing, buy renewable solar energy systems, car loans, operating loans for hotels and scientific research, doctors, pharmacists and private sector employees, starting from 5 to 25 million dinars, depending on the project.
The electrical network was repaired and transport bottlenecks were dealt with in 12 villages, and main roads were cladded in five regions in various governorates.
Construction of a pedestrian bridge over the Suwayr River in Finjan Al Zahir Rehabilitation, development and expansion of Al-Okasha water complex in Najmi. Restoration of the water purification plant in Aziz Balad.Construction of roads in the villages of Ke, Laka, Mehidi, Al-Uweinat and Al-Juwaizat, building schools in Al-Khanouka, Al-Bu Tuma, Albu Delaf and Bebava, extending the conveyor line from the new Rumaitha project to Abu Srifa area, and equipping and extending the electricity network in the Al Dhuaiher area in Hilal. Conveyor water pipeline, diameter 225 mm, in the Warka area, and supply voltage regulator.
Extending a water network in As Suwayer, installing a 100-cubic-foot water desalination scheme in Al-Tawoura, extending a pipeline to greenery (5.3 km), establishing a water transmission network in Al-Khanouka.
As for the banking sector dependent on economic and development movement, the Al-Kazemi government reacted positively to the step, being Stimulates the economy and thus encourages legitimate banking transactions,
as the Central Bank of Iraq’s reserves of foreign currency, "the US dollar" rose to more than two billion dollars, and this within less than two months of this year, and before the arrival of imports of the rise in oil prices.
On December 31, the actual cash reserve of the Central Bank did not exceed 51 billion dollars, while on February 17 it reached approximately 54 billion and a quarter billion dollars. All these figures indicate that the real achievement of the reform is despite voices opposing this achievement, which made the figures the official spokesperson for it, not to mention the investment projects ready for implementation such as the 6.2 km long Al-Qurayat suspension bridge, which will link the two sides of Baghdad, Al-Karkh and Al-Rusafa.
Karbala Road 5.66 Al Hawali with a length of 1 km, Baghdad Hawalli Road with a length of 94 km, a 235 km highway linking the governorates of Wasit, Babil, Karbala and Baghdad, a 160 km road linking Karbala with the Arar border crossing, Baghdad - Basmayah road with a length of 20 km. The government's taking of these very important and tangible measures in the short and long term would achieve for the Iraqi citizen access to education, health care and other services, albeit gradually, and would have lasting effects on the family's ability to escape from poverty or not fall into it, starting with the measures. Reformism that is bearing fruit in a record period, and it is expected that the coming months will witness more widespread tangible results in all sectors, and it is imperative to assign the government to its unprecedented continuation in fighting corruption by Mustafa Al-Kazemi, and to work together to promote reforms so that Iraq takes its role, place and sovereignty internally and externally. one more time.
Economic Studies Unit
Rawabet Center for Research and Strategic Studies link
Courtesy of Dinar Guru:
Walkingstick and Frank26 ...you have to know when to hold'm and when to fold'm...After they raise the value and they introduce the small category notes there's going to be a time-frame for the Iraqi citizens to exchange their notes inside of Iraq...the 25K also has a set time in which the Iraqi citizens can exchange it - anything after that null and void for them. "Just inside?" Yes. So there's a set time in which the Iraqi citizens will have to exchange their 3 zero notes to pick up their 250, 500, 1000 notes that have already been printed...there is also a very specific time-frame for them to exchange the higher notes like the 25k notes.
Jeff What are we waiting on? Who do we listen to? The CBI. What did the CBI tell us? Years ago the CBI told us that we're waiting on a fiscal budget year before that rate is going to change. When the CBI talks we listen. When does Iraq's fiscal year start? Google tells us it's January...Google and the internet are incorrect...the last data Iraq revealed publicly for a fiscal year came form the last budget they did, which was 2019. When you google Iraq's fiscal year you're seeing old data from 2019 because Iraq never did a 2020 budget. That data about the country's fiscal years comes from the last page of their budget.
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IRAQ NEWS: | IQD Iraqi Dinar Currency Exchange RV 1:1 then $3 NEW EXCHANGE RATE?
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