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CBI in a strong position and can maintain the value of the dinar


yota691
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July 28, 2013 12:45

 

 
 
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He stressed the IMF on the need to adopt a reform process and economic scale, as Usher strengths and imbalances in the joints Economic came in a report the Fund's Article IV of 2013 on Iraq, which is the assessment of my yearly by the International Monetary Fund for the economies of the Member States of the Fund, and issue a report accompanied by my assessment of the latest economic developments in those countries, and the expectations of experts Fund for growth in the overall economy as a whole three to five years following the date of issuance of the report. The section on Iraq, the report is based on the consultative meetings held with the Iraqi side, and the Iraqi private sector and members of the Iraqi civil society, in March of 2013. 
said head of the IMF mission to Iraq Carlo Sdrallweg in an interview (morning): Iraq needs to formulate structural economic reform agenda and widespread, and even more importantly, it needs to follow up the implementation of that agenda with all its contents. There is still a lot of work to be done in the area of public finance, not only in improving the management of the budget, but more important than that to be in the area of improving growth and poverty reduction as well, and pointed to the importance of raising the quality of spending, and this can be achieved, In the first place, by eliminating waste, and direct expenses to the poor even more. Indicating the need for Iraq to focus on increasing the level of provision of electric power, and the restructuring of state-owned companies owned by the state, and streamline regulations to help ensure its focus on helping the private sector rather than the imposition of restrictions upon, and pointed out that Iraq needs as well as to revive agriculture, including reform of the system PDS has contributed to the decline in domestic agricultural production through large food imports. We recognize and are aware that all these measures are difficult to perform, and will require time. Therefore, the need for requiring the adoption of a realistic approach and settled to achieve all that. 
in question (morning) on exposure of the private banking sector in recent times to attack by the pretext of money laundering and illegal transfer of funds. Do you see that building? He said in answering We are not aware of any specific cases of money laundering particular, but we recommend that the Central Bank of Iraq to redouble its efforts in promoting a stable financial sector and safe. In this regard, the commitment of the Iraqi Central Bank Governor on behalf of, and to strengthen the work of the Banking Control encourages us to push for the implementation of this recommendation. In our view, a lot of work still to be done to improve control over the banks, and examples, supplying banking supervision cadres better, and training courses better, and outsourcing joint (with other government agencies) "co-sourcing" of the functions of the Department of Control banks with the Central Bank of Iraq. 
addition to expanding the reach of business to include oversight of government banks owned by the state.Moreover, the improvement of the framework for combating money laundering and the financing of terrorism, in line with the recommendations of the Financial Action Task Force for the Middle East and North Africa (MENA FATF), along with the continuous efforts in strengthening errands control carried out by the Central Bank of Iraq on combating money laundering and the financing of terrorism, it would be that would help in addressing the concerns of money laundering and financing of terrorism and processed. It must also develop financial infrastructure, such as reporting on the historical background of credits and recordings collateral (assets guarantor), and ways of banking technology, in order to support the performance of the banking sector. 
and the Iraqi dinar exchange rate and on the role of the Iraqi Central Bank in the currency auctions. In your opinion, what should the central do about it? Sdrallweg clarified the matter, saying that we need to believe that the central bank liberalization of the foreign exchange system at the earliest opportunity where this editorial is possible technically. We expect that the relaxation of regulations of foreign exchange would provide the funds needed by the Iraqi citizens in U.S. dollars, and to help the Iraqi economy, and reduces the difference in question, which fell fell sharply in fact, after the measures newly taken by the Central Bank of Iraq, which simplified market transactions, and opened it in front of customers. This means, the minimum, the opportunity to get any Iraqi citizen on foreign exchange, if it wishes to make any transaction ongoing international legitimate, for example, for the purposes of importing goods, as well as for interest payments, or transfers for expenses family. 
said we We understand there همين Co يبعثان the concern on the liberalization of the foreign exchange system
. First, some have argued saying that the opening of the auction probably works on the Iraqi depletion of reserves of foreign exchange to levels dangerously low, thereby undermining the value of the Iraqi dinar. It also does not believe that this decline in the value of the dinar will happen on the ground because the Central Bank of Iraq in a strong position with him can maintain the value of the dinar, and because foreign exchange inflows from oil revenues are too high. The CBI has the amount and plenty of reserves amounting to the level of more than 70 billion U.S. dollars, a large sum to a degree sufficient to cover more than the value of nine months of imports, or to cover more than 104 percent of the money before the broad sense; sense that it is equal to all of Iraqi dinars in circulation in addition to deposits.

 
 
Edited by yota691
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We don't want to maintain, we want to increase. C'mon guys, get it straight.

 

It's a translation...a translation from a language that does not use the same symbols we do, uses voice inflections for meaning, is written from left to right, and in this case the article has been translated by an machine called Google.  Let's afford some latitude, and some imagination.

 

Thanks Yota.

Edited by Carrello
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It's a translation...a translation from a language that does not use the same symbols we do, uses voice inflections for meaning, is written from left to right, and in this case the article has been translated by an machine called Google.  Let's afford some latitude, and some imagination.

 

Thanks Yota.

Carrello is right these articles are hard to understand and translate . If only we had someone on this site that spoke the language and could do that for us. That would be great.

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It's a translation...a translation from a language that does not use the same symbols we do, uses voice inflections for meaning, is written from left to right, and in this case the article has been translated by an machine called Google.  Let's afford some latitude, and some imagination.

 

Thanks Yota.

Arabic is written RIGHT to Left. Google translate scans left to right I think . A line of text is interpreted as a sentence but there may be overflows the translator doesn't handle well. Also the translator's dictionary may not take into account more modern definitions. So sometimes if you read the translated output backwards in phrases it makes more sense.
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Carrello is right these articles are hard to understand and translate . If only we had someone on this site that spoke the language and could do that for us. That would be great.

I don't think anyone wants the liability of translation as no one ever steps up to the mic on that one, and we all know that there are people here, or at least knows someone that knows someone that has access to people that speak the language......   just sayin...... :peace:

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We don't want to maintain, we want to increase. C'mon guys, get it straight.

exactly. the cbi is maintaining and stabilizing, which is their main function.

the cbi is talking about maintaining the market rate as close to the official rate as they can. say they have enough reserves to weather the ups and downs.

Carrello is right these articles are hard to understand and translate . If only we had someone on this site that spoke the language and could do that for us. That would be great.

thenadd....all the new definitions people come up regarding deleting three zeroes......and your really out in left field

exactpy why its important to not manipulate, flip, or change statements. but...its all about what sounds good

Edited by sandstorm
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It's a translation...a translation from a language that does not use the same symbols we do, uses voice inflections for meaning, is written from left to right, and in this case the article has been translated by an machine called Google.  Let's afford some latitude, and some imagination.

 

Thanks Yota.

I wasn't ripping anyone, and I appreciate Yotas work. I was just saying I'm tired of the talk by them and just wish they would do something.

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Carrello is right these articles are hard to understand and translate . If only we had someone on this site that spoke the language and could do that for us. That would be great.

On another thread, it was mentioned they used to be here - people who speak Arabic. They left.

Why? Something about attitude toward them was condescending, rag-heads, etcetera...

Something about how they were lucky to have us "liberate" them....that kind of thing.

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