Zig’s Place Chat Room Discussion and News Friday 12-18-20

Zig:  Welcome to zig's place, a chat room for dinar speculators and others....discuss any topic that you wish here.

Xyz    Central Bank: We are ready to launch a package of measures to achieve balance in the exchange rate

[Baghdad-Where]  Central Bank Governor Mustafa Ghaleb Makheif announced today, Thursday, that the bank is ready to launch a package of measures that will achieve a comfortable balance in the exchange rate.

The Media Department of the House of Representatives said in a statement, that "the Finance Committee hosted today, Thursday, the Governor of the Central Bank, Mustafa Ghaleb, frightening, to discuss the economic crisis and the implications of the high exchange rate of hard currency on the Iraqi market situation."

She added, "The committee focused during the hosting, which was held at its headquarters, on ways to confront the negative repercussions of increasing the exchange rate on citizens, particularly the vulnerable and poor classes, as well as the measures that the Central Bank will follow towards banking companies to deter the weak people from exploiting this situation."

She pointed out that "the committee called on the government to carry out rapid reforms to protect the vulnerable classes and those covered by the social care network and workers in the private sector, confront inflation and provide the necessary foodstuffs through the ration card."

According to the statement, Central Bank Governor Mustafa Ghaleb Makheif provided an explanation regarding the reasons for the high exchange rate, stressing that “the bank is preparing to launch a package of measures that will achieve a comfortable balance in the exchange rate for 2021, such as launching an initiative of 3 trillion to support low-income people, and doubling Providing hard currency in the market, and increasing interest rates on the Iraqi currency deposited in banks     https://me3cqzp54k2jl4s233nr6undya--www-alliraqnews-com.translate.goog/modules/news/article.php?storyid=105311

Spectra   Just facing a new day is very hard for many considering all that is going on.

Zig   We can agree about that...many are suffering

Spectra  yes

Spectra  They destroyed many lives. People lost their job because of their policies and business owned by many families will never come back.

Spectra  Chinese people are living like normal.? Why then are we not?

Spectra  Why are we allowed to go to walmart ?When this is so dangerous?

Zig  No matter what your politics are, etc....innocent people get caught in the middle and pay a steep price when our so-called "leaders" have their priorities all screwed up and can not compromise....IMO....

Xyz   Parliamentarian: We will not pass the 2021 budget in its current version

13:40 - 12/18/2020  The information / Baghdad ... On Friday, Representative Mansour Al-Baiji announced that the House of Representatives rejected the leaked version of the Iraqi budget for next year, indicating that it includes catastrophic points, injustice and prejudice that will lead to great harm to all the Iraqi people, and this matter cannot be accepted completely.

Al-Baiji said in a statement that the information received, a copy of it, that “it would have been better for the government to take more serious reform steps through its support for the industry, agriculture and trade sectors to supplement the budget, not to go to cutting the people's livelihood and raising the value of the dollar against the dinar, which would cause an economic disaster for the country.“

He added, "If the budget law is sent in its leaked form, we will not pass it through the House of Representatives, and we will not be a reason to punish our people in this disastrous way under the name of reforming the economy or any other name because this matter is considered destruction for our people."

He pointed out, “The current situation in the country does not bear such measures, especially since our people are waiting for a lot from the government in the next year's budget, such as the release of job grades and the salaries of free lecturers, the return of their contracts, and the confirmation of contracts, not for the government to cut salaries and other things that will lead to the collapse of the general situation in the country.

Consequently, the government must review itself and take more serious actions, especially in the next year's budget, before sending it to Parliament in its leaked form, because we will not pass the next year's budget in this format, and we will not stand against our people, whatever the reason.” https://www.almaalomah.com/2020/12/18/510760/

 xyz  Qubad Talabani: We will not return from Baghdad without an agreement

Baghdad / Vice President of the Kurdistan Regional Government, Qubad Talabani, head of the Kurdish negotiating delegation, expressed his optimism for reaching an agreement with the federal government on the financial dues for the region.

"The problems are many and not only the issue of the fiscal deficit and salaries law, and some of them are due to the constitutional reading in Parliament, as well as the preparations for early elections," the Patriotic Union of Kurdistan website quoted Talabani as saying.

He added, "There is an unhealthy political atmosphere in Baghdad, as well as political pressures on all sides, so the process of dialogue with the federal government to solve all problems is not easy, but we are optimistic about reaching an agreement and we will not return from Baghdad without an agreement."

Talabani expressed his readiness to implement the fiscal deficit law in Iraq and hand over oil and non-oil revenues, in exchange for fixing the Kurdistan region’s share in the borrowing law. https://ninanews.com/Website/News/Details?key=876996

butterfly   https://www.kurdistan24.net/en/news/11cb8b68-9317-49ba-b73b-9d88d0ca16f3 This is the latest payment from Iraq to Kuwait and that was back in 2019.

butterfly  The repayment percentage increased from 0.5 percent in 2018 to 1.5 in 2019. The amount will increase to three percent at the beginning of 2020 and remain at that level until the outstanding compensation amount has been paid in full, the UNCC said in a statement.

So far, Iraq had paid $48.7 billion to Kuwait, and $3.7 billion is left to complete the process, according to the UNCC.

butterfly  There is still 3.7 BILLION to be paid off before Iraq will do anything.

butterfly  The way things are going in the world, it will be sometime before all of that is complete.

butterfly   https://shafaq.com/en/Economy/Iraqi-government-tends-to-raise-the-Dollar-s-exchange-rate-against-the-dinar Shafaq News / A member of the Parliamentary Finance Committee confirmed the government's intention to raise the exchange rate of the Dollar.

The owners of banking offices attributed the recent rise in the Dollar's exchange rate to the increase in demand for it by citizens, after rumors of the government's intention to raise its price.

MP Jamal Kocher said in an interview with Shafaq News agency, "I think that there is a government tendency to create an atmosphere for raising the dollar exchange rate more than it was in previous budgets, to reach approximately 130 thousand dinars for every 100 dollars," indicating that this step will affect the citizens and their salaries.

Kocher added, "The government's approach to reducing the deficit within the budget for next year boils down to four main steps, the first is to raise the exchange rate of the Dollar against the dinar, raise the price of the oil barrel to more than $ 42, which was previously announced by the Minister of Oil, implementing the reform paper into texts within the budget law, and finally, pressure expenditures and go to major expenditures only.

"The government must take these steps. Otherwise, there will be a huge deficit," he said.

Zig   I will be posting in a couple of hours about another way to request membership here....via email....we'll see how it goes....

NORV   1450 to $1 this Sunday is a loss of about $200 loss per million

NORV   Have good weekend. Im going skiing.

Zig   NORV : How is Enorrste doing?  

NORV   Zig great had a nice visit with them last week and had wonderful steaks. He like me is disappointed in Iraq's inability to get anything done but we had a great time chatting

Zig   NORV : That's good...

Xyz   Parliamentary Finance talks about measures regarding the dollar's price and salary deductions https://me3cqzp54k2jl4s233nr6undya--www-alliraqnews-com.translate.goog/modules/news/article.php?storyid=105324

The Parliamentary Finance Committee said, Friday, that "the central bank will take measures regarding the exchange rate of the dinar."

She stressed that "the government is responsible for the high price of the dollar, not the central bank," noting that "the budget leak has an impact on the market situation and on the citizen."

"The employee's salaries cannot be deducted twice, the first by raising the dollar exchange rate and the second from the allocations," she said.

Yesterday, the media published a leaked draft of the General Budget Law for 2021, which included deductions for employees' salaries

NORV   Finance Minister: The former dollar exchange rate distorted and damaged the economy

18/12/2020  Economy News – Baghdad   The Minister of Finance, Ali Allawi, announced that the dollar exchange rate of 1182 dinars per dollar distorted and damaged the Iraqi economy, indicating that next year's budget will impose new taxes.

Allawi said in a statement on the 2021 budget seen by "Al-Eqtisad News", that the 2021 budget adopted an exchange rate of 1450 dinars per dollar, because the previously approved exchange rate of 1182 dinars per dollar is distorted and does not reflect the actual reality, stressing that the previous exchange rate hurt the Iraqi economy As a result, the goods are being paid from neighboring countries, which has negatively affected the local product.

He pointed out that the appropriate level of the exchange rate is a confusing question, but the Ministry of Finance believes that for multiple reasons, and after study and analysis, the exchange rate at the present time is 1450 dinars to one dollar, despite our belief that the floating and controlled exchange rate is better, but the best solution at the present time is the price.

NORV  More....  https://economy-news.net/content.php?id=23193

Dave  yawn......

NORV  Finance believes that for multiple reasons, and after study and analysis, the exchange rate at the present time is 1450 dinars to one dollar, despite our belief that the floating and controlled exchange rate is better, but the best solution at the present time is the price.

Zig   https://economy-news.net/content.php?id=23193

NORV  They will float! just not now

NORV  :Pool:  float

Zig  GO FLOAT!!!!!

Dave  lloks like fun ....enjoy!

NORV  I will get redemption!

Dave  does this stuff get posted in Recaps still?

NORV   Where is guru Frank26 and Delta?

Dave looking for you?

Zig  Dave : If a lot of news articles get posted there is a greater chance of it getting copied to Recaps.....

Dave   have to mix it in

Dave   cleverly......

NORV   ok back to to my yacht!   :Yacht:

NORV   Maybe someday I will publish my book telling the truth of what is happening with Iraq.

NORV   People need to realize this is a countries currency, not a lottery ticket.

Dave  NORV you seemed to have determined date and rate

NORV  Dave sure

NORV  Let's have a party!

NORV :Wino:

Dave  on your .000082 cents?

Dave  sure

NORV  They could LOP and make it 82 cents!

NORV  Maybe next year Iraq will decide to create the condition for a private sector

NORV  :Pool:  float

Dave  CBI struggling to get people to the banks....trying harder

Zig  Dave : I should know your questions by now....you have asked them 100 times....lol

Zig  1000 fils for a coke....LOL

Dave each coin would cost ten or more cents to mint......times 1000 ....lol

Dave   lds 6=8 cents each

Zig   All we can do is wait

Zig   As most of you reading this know by now  here has been only by "Invitation" lately....and our members are encouraged to invite others...however, I realize some readers out there may want to participate but have no way of obtaining an invitation....so I am going to try something which I have briefly tried before:

Giving you another way to become a member here and be able to post....Here it is: First please register: Click on "name" at the left side of the "message box" below and type your desired username....Next click on arrow at top right in box or hit enter....pick a password, etc....That is step one......

Step Two: Send me an email at ZigPlace@protonmail.com saying you have registered and what name....I will activate you and post in chat when I have done so....also will email you....after you know that you may log in and post....Log in the same way you registered.....click into message box to post....type then hit enter or click arrow at bottom right.....

That's it....May take a while for me to activate you as I do not use that email often....Whether or not this remains an option will depend on a couple of things....  :)

Zig   I am far from stupid and realize what may happen....lol....I do not use nor need that email....any trouble I will just delete that email address....no big deal for me....that is all I will say.....just experimenting..... :Roll eyes:

Zig   If you access this chat via https://my.cbox.ws/ZIGPLACE   You can make the box much bigger by clicking this link  ZIGPLACE - Cbox