News, Rumors and Opinions Wednesday 6-16-2021
KTFA:
Samson: Parliamentary Committee: The blocs behind raising the price of the dollar impede the questioning of the Minister of Finance and the Governor of the Central Bank
15th June, 2021
The Parliamentary Economy and Investment Committee held, on Tuesday, some political blocs responsible for delaying and disrupting the interrogation of Finance Minister Ali Abdul Amir Allawi and Governor of the Central Bank of Iraq, Mustafa Ghaleb Mikhaif.
Committee member Nada Shaker Jawdat told Shafak News Agency, "Members of Parliament demanded to host and interrogate the Minister of Finance and the Governor of the Central Bank of Iraq after changing the exchange rate of the dollar against the Iraqi dinar, and the increase in commodity and commodity prices in the markets during the last period."
She added, "Some political blocs bear responsibility for delaying and disrupting the questioning of the Minister of Finance and the Governor of the Central Bank for political and personal purposes. They themselves bear the responsibility for the high exchange rate that exceeded 150,000 Iraqi dinars per 100 dollars."
A number of political blocs and members of the House of Representatives demanded, several times, to question Finance Minister Ali Allawi, and to remove him from his position because of his policy, which some of them described as "failed."
Jawdat continued, by saying that "the change in the exchange rate and the rise in prices broke the back of the citizen, especially those with daily sustenance and those with limited income."
The Iraqi Council of Representatives failed to hold a session to interrogate Finance Minister Ali Allawi at the end of last May.
Parliament also failed to hold a session at the beginning of this year to interrogate the Governor of the Central Bank of Iraq, Mustafa Ghaleb Mokhiv. LINK
MilitiaMan: There you go. The politicians bear responsibility. They know they have egg on their faces.. The CBI didn't change the rate on the street. Many thing were and can be attributed to the decrease in value of the IQD and the USD on the street.. Rumors, fake news, scare tactics, etc.. All played a part in this. Now that the Kurds and Baghdad have an agreement, then the next step is to pay retroactive monies.. imo, it will not be at a PR (Program Rate) .. imo ~ MM
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Samson: Assigning Al-Saadi as Executive Director of the Higher Committee for Economic and Financial Reform
16th June, 2021
The Ministry of Finance announced, on Wednesday, the assignment of Counselor Alaa Abdul-Hussein Al-Saadi as Executive Director of the Higher Committee for Economic and Financial Reform, indicating that this came to implement the requirements of the reform program.
And the ministry's media office said, "The Prime Minister's Office decided to assign Counselor Alaa Abdul Hussein Al-Saadi, to be the executive director of the Supreme Committee for Economic and Financial Reform."
He added, "This came in line with the importance of the economic and financial reform plan and in order to enhance its tasks in a manner that ensures the implementation and completion of its entire premises aimed at correcting the foundations of the Iraqi economy, and based on Cabinet Resolution No. (50) for the year 2021 related to the approval of the white paper for economic and financial reform, which includes the formation of (the Supreme Committee). For reform) headed by the Prime Minister and Minister of Finance as Vice-President and the membership of the ministries and relevant authorities and for the requirements of implementing the reform program, following up and providing the necessary support to the responsible authorities and setting the necessary regulatory frameworks for its implementation.
Al-Saadi held several positions outside and inside Iraq, the last of which was the head of the Iraq Securities Commission. LINK
DeepWoodz: Imo...Well this could be HUGE because Kadhimi has been in charge. This is the committee in charge of the white paper.
Iobey777: I will agree with that!! Sometime SOON, IMO, we are going to see that shiny new RATE posted on the CBI!!
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TNT:
AWN92: I went to my Chase branch in Manhattan yesterday. First time I have been there in over a year. Tried to buy some VND. The teller next to the one taking my order heard that and recognized me from the year before. I used to come in every payday and buy another million VND. The teller that was helping me looked and looked and couldn't find VND on her screen. Chase wasn't selling it or buying it according to her. The look on my teller friend's face was confusion. He couldn't understand why they would do that either. Must be getting close.
Courtesy of Dinar Guru
Frank26 IOO The CBI is coming out and they...started, what we call, 'promoting' the true exchange rate...the CBI is now starting the campaign...They are starting to promote the education of the monetary reform to the citizens and the world to put an end to the fluctuation in the market prices...The CBI is now making it clear not just to the citizens but to the whole international community that only the CBI has the authority to change the currency's rate...Based on the articles...you are now seeing the campaign.
FootForward Article: "Iraq Trade Bank - External remittances (SWIFT)" Quote: "You can now transfer to all countries of the world through the application of banking services from the Iraqi Trade Bank..." Article: "Barzani announces that an agreement has been reached to receive the region’s dues in the budget with a “retroactive effect" " I would argue the news about Barizani is bigger then the swift thing. I understand you need to be international for the swift stuff. But you also need the kurds for the dinar to be worth much.
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Iraqi Dinar update for 06/15/21 - going in right direction
Pimpy’s Investment Chat: Jun 15, 2021
Did the UN Council tell us the IQD rate
Pimpy’s Investment Chat: Jun 16, 2021