Abadi emphasizes the need to develop to control the Iraqi dinar exchange rate mechanisms

[yota691]

Abadi emphasizes the need to develop to control the Iraqi dinar exchange rate mechanisms

 

Monday, 23 March 2015 18:48

 

 

 

 

 

 

Alsumaria News / Baghdad

Stressed Prime Minister Haider al-Abadi , on Monday, the need to develop to control the Iraqi dinar exchange rate mechanisms, while stressing the importance of a well-developed banking system in Iraq comparable to developed countries.

 

Ebadi said office said in a statement Alsumaria News received a copy of it, that the Prime Minister ", received in his office today, Governor of the Central Bank on the Keywords," noting that "During the meeting, they discussed the work of the central bank's strategy for the coming period and the control of the Iraqi dinar exchange rate against currencies foreign. "

 

 

He stressed Abadi, according to the statement, "the importance of the central bank maintains its independence and work to promote the financial and economic reality of the country and draw financial and economic policies that enable us to move forward towards what we aspire to." said Abbadi, "The Importance of Being to Iraq banking system developed comparable countries advanced, "stressing" the need to develop to control the Iraqi dinar exchange rate mechanisms. " It was an economic advisor to Prime Minister Haider al-Abadi said in (February 5, 2015) high dollar prices in the Iraqi market bubble, as he emphasized that some of the imports are of futility.

 

Abadi emphasizes maintaining the independence of the Central Bank

Published on Monday, March 23 / March 2015 16:01

Written by: Laith Mohammed Reza Hits: 52

BAGHDAD / Center Brief for the Iraqi Media Network ( IMN) - emphasized  the Prime Minister Haider al-Abadi, the importance of the central bank maintains its independence, and that works to promote the financial and economic reality of the country and draw financial and economic policies that enable us to move forward towards what we aspire to.

 

With Abadi received in his office on Monday, Governor of the Central Bank on the Keywords.

Stressed the importance of Iraq has to be a sophisticated banking system comparable to developed countries, stressing the need to put the control of the Iraqi dinar exchange rate mechanisms.

During the meeting, they discussed the work of the central bank's strategy for the coming period and the control of the Iraqi dinar exchange rate against foreign currencies. 

[Texstorm]

Thanks Yota ! I'm ready to see a change, anything, just do something please ! 

[climber7]

Wait,are they saying they don't even have anything in place yet??!!!    If not--this might go on for a few more years!

[s72]

Thanks Yota !

[yota691]

Abadi: should be placed to control the Iraqi dinar mechanisms

MONDAY, MARCH 23 / MARCH 2015 18:57 EM  

Twilight News / confirmed Prime Minister Haider al-Abadi, on Monday, the need to put the control of the Iraqi dinar exchange rate mechanisms, and said there should be a well-developed banking system in Iraq comparable to developed countries.

Abadi talk came during a meeting with Governor of the Central Bank on the Keywords in his office in Baghdad, according to the website of the Office of Abadi.

The website said that during the meeting, they discussed the strategy work of the Central Bank for the next period and the control of the Iraqi dinar exchange rate against foreign currencies.

The Prime Minister emphasized "the importance of the central bank maintains its independence and work to promote the financial and economic reality of the country and draw financial and economic policies that enable us to move forward towards what we aspire to."

He noted "the importance of Iraq has to be a sophisticated banking system comparable to developed countries," stressing "the need to put the control of the Iraqi dinar exchange rate mechanisms."

[SgtFuryUSCZ]

***///

 

So, they are going to exchange the Dinar with Foreign Currencies in the coming period, eh...?

 

...and control the rate at that....

 

When is "the coming period"....

 

And what "rate" might that be exactly, Mr. Al Abadi....  

 

More than The Kuwaiti Dinar perchance..?....................DO TELL... !  

[yota691]

This news is all over the place!!!
Abadi underlines the need to develop to control the Iraqi dinar exchange rate mechanisms

 

History of edits:: 23.3.2015 seven forty-seven p.m. • 19 visits readable

 

{Baghdad: Euphrates News} Search Prime Minister Haider al-Abadi with the Governor of the Central Bank on the Keywords work of the Central Bank's strategy for the coming period and the control of the Iraqi dinar exchange rate against foreign currencies, stressing the need to put the control of the Iraqi dinar exchange rate mechanisms.



 
A statement by the Office of Abadi received {Euphrates News} a copy of it today that "al-Abadi, received in his office the Governor of the Central Bank, Mr. Ali relationship, and stressed the importance of the central bank maintains its independence, and that works to promote the financial and economic reality of the country and draw financial and economic policies that enable us to moving towards what we aspire to. " 
He noted the importance of being with Iraq sophisticated banking system comparable to developed countries, stressing the need to develop to control the Iraqi dinar exchange rate mechanisms. Ended h

Abadi, the Governor of the Central Bank: it is necessary to develop a mechanism to control the exchange rate of the dinar and the presence of a bank Mntoma

 

 

03/23/2015 20:01

 

Awan / Baghdad

Stressed Prime Minister Haider al-Abadi, on Monday, the need to develop to control the Iraqi dinar exchange rate mechanisms, while stressing the importance of a well-developed banking system in Iraq comparable to developed countries.

Ebadi said office said in a statement received a "time", a copy of the Prime Minister ", received in his office today, Governor of the Central Bank on the Keywords," noting that "During the meeting, they discussed the work of the central bank's strategy for the coming period and the control of the Iraqi dinar exchange rate against foreign currencies. "

He stressed Abadi, according to the statement, "the importance of the central bank to maintain its independence and work to promote the financial and economic reality of the country and draw financial and economic policies that enable us to move forward towards what we aspire to."

Abadi pointed to "the importance of Iraq has to be a sophisticated banking system comparable to developed countries," stressing "the need to develop to control the Iraqi dinar exchange rate mechanisms."

Ebadi calls for the central bank to control the Iraqi dinar exchange rate
Monday, March 23 / March 2015 19:10

 

[baghdad where]

The Prime Minister called Haider Abadi central bank to control the Iraqi dinar exchange rate against foreign currencies.

A statement by the Office of Abadi received by all of Iraq [where] a copy of the "al-Abadi, received in his office the Governor of the Central Bank on the Keywords and stressed the importance of the central bank maintains its independence and that works to promote the financial and economic reality of the country and draw financial and economic policies that enable us to walk forward towards what we aspire to.

He pointed to the importance of the banking system to Iraq sophisticated comparable to developed countries, stressing the need to put the control of the Iraqi dinar exchange rate. Mechanisms ended

[Big_J]

       

[TQueezy]

Comparable to developed countries sounds an awful lot like fractional reserve banking and pushing everyone to use debit/credit, and hopefully they will leave out printing truckloads of currency from their plan (something the US can't seem to stop doing).

Control the exchange rate mechanisms? So… keep a tighter rein on market price gouging and/or start the process of dedollarizing by increasing the relative value of the IQD to the USD and reducing how many high face value notes are in circulation while gradually releasing new lower denomination bills/coins of the same currency series/ISO code.

I swear, we could run their whole operation better than they can/do.

IMF, if you're reading this… just saying.

[eburt]

What does this means? Are they talking about possible RV? If so when???

[TrinityeXchange]

before gurus jump all over this and take it to the moon, let's consider the game plan of the world bank.  it has always been a target to control the exchange rate of the dinar (eventually) through a managed float instead of using the currency auction system and a peg.  floating the currency allows for more tolerances against macroeconomic shocks like the ones iraq is currently experiencing, and it is having devastating effects.  right now the country is completely at the whim of the usd because of the lack of monetary policy independence (being tied/pegged to the usd).  however, up until this point, iraq has not been in position to successfully float the currency because of CBI regulatory restrictions that are in place and an under developed banking system.  

 

with that understood, it would appear that abadi is saying that our infrastructure is NOW ready to move to a new exchange regime.  whether that would be a crawling peg, managed float, banded..... we don't know.  but it was well documented back in 2005 that a managed float was the original plan.  abadi is ready, but at the end of the day it is the CBI with the final say because it is an independent body and must function and appear as an independent body if foreign investors are to respect iraq's financial system.

Edited March 23, 2015 by TrinityeXchange

[dantach]

Sarg: When is the coming period?  

[eburt]

before gurus jump all over this and take it to the moon, let's consider the game plan of the world bank.  it has always been a target to control the exchange rate of the dinar (eventually) through a managed float instead of using the currency auction system and a peg.  floating the currency allows for more tolerances against macroeconomic shocks like the ones iraq is currently experiencing, and it is having devastating effects.  right now the country is completely at the whim of the usd because of the lack of monetary policy independence (being tied/pegged to the usd).  however, up until this point, iraq has not been in position to successfully float the currency because of CBI regulatory restrictions that are in place and an under developed banking system.  

 

with that understood, it would appear that abadi is saying that our infrastructure is NOW ready to move to a new exchange regime.  whether that would be a crawling peg, managed float, banded..... we don't know.  but it was well documented back in 2005 that a managed float was the original plan.  abadi is ready, but at the end of the day it is the CBI with the final say because it is an independent body and must function and appear as an independent body if foreign investors are to respect iraq's financial system.

Agreed Trinity - Expcept if the CBI expects investors to stay with Iraq they better play ball and do something with their currency like Abadi is requesting.....

[WheresmyRV?]

Well said Trinity!

[Wiljor]

The pressure is on folks, it would appear that the president is anxious to bring monetary reform to Iraq and catapult them onto the worlds stage. Yes the CBI has the final word but this is the news we want to see and see it more frequently. The CBI must begin to make the Dinar more attractive as their are many investors and companies waiting to pounce the moment their is a slight movement. We know Iraq will be the power house of the ME, but they must have the system in place beacuse when it does change they're will be a fast and furious influx of activity on all levels.

Abadi is on a mission and he is serious, the trees are starting to bare fruit my friends, we are closer.

[Laid Back]

Abadi is saying "is time to give real value to the dinar".

Go iraq

Go dinar

Go strong $1+

[Palmtree1970]

Laidback Wake me up when its over

[Boozer]

All Talk and no action , SOON,

[davis411]

Abadi is saying "is time to give real value to the dinar".

Go iraq

Go dinar

Go strong $1+

now thats the positive attitude i have been looking for

not this 6 to 9 month deal

[TLHUBER]

Coming period could be the 2 nd Quarter, which starts April 1st.

[yota691]

Ebadi calls for the central bank to control the Iraqi dinar exchange rate

Monday, March 23 / March 2015 19:10

[baghdad where]

The Prime Minister called Haider Abadi central bank to control the Iraqi dinar exchange rate against foreign currencies.

A statement by the Office of Abadi received by all of Iraq [where] a copy of the "al-Abadi, received in his office the Governor of the Central Bank on the Keywords and stressed the importance of the central bank maintains its independence and that works to promote the financial and economic reality of the country and draw financial and economic policies that enable us to walk forward towards what we aspire to.

He pointed to the importance of the banking system to Iraq sophisticated comparable to developed countries, stressing the need to put the control of the Iraqi dinar exchange rate. Mechanisms ended

[nfire]

Yes!

[gregp]

Great Find! How else could they say it? This was straight forward. Thanks.

[sandfly]

THANKS

[Nelg]

Great stuff!  

Let's just hope that the controlled exchange rate to which they are referring is NOT the maintaining of the old rate.  The rate has dropped against the rise in the dollar and the decline in oil prices.  However, with the abundance of articles on the same subject, they are wanting all Iraq to know that a strengthening of the dinar is about to commence.  The pressure by the GOI is evidenced by their insistence that the CBI is independent from the government.  The GOI is just "encouraging" them to increase the exchange rate to a point that internationally it is strong and consistent enough to do business with the rest of the world.  The CBI is saying in my words, "We can handle it."

 

Now, let's see what the do and say the rest of the week.  

 

Bring it on!  The DV community is definitely ready.