Parliament calls for financial follow-up funds allocated through auction currency imports

[yota691]

Parliament calls for financial follow-up funds allocated through auction currency imports

 

 

1/26/2017 0:00   BAGHDAD / Shokran Fatlawi demanded that the Parliamentary Finance Committee member Dr. Magda Tamimi reconsider at an auction mechanism currency being restricted currency and trade liberalization in the correct philosophy is supposed to follow, restraint of trade and the liberalization of the currency to be available to all, as well as the advancement of agricultural sectors and Alsnaaa.wachart in an interview for the "morning" on the sidelines of a seminar organized by the progress of the Policy Institute development earlier this week, to the need to know where the money to be allocated for commercial purposes trends through auction currency and follow them carefully to prevent employed in the doors not serve the country economically. Curriculum import  added Tamimi said the curriculum import a very important point, indicating that the country before 2003 had entrusted the Ministry of import task Commerce where she was familiar with the needs of the country quantity and specifications required, any sense why you need state - of - materials and not to engage in random import, and therefore the dollar when come out to something important and should be given Marov.ocdt import a vacation every year and not every three months and that the goods entering the border Customs and tax Malomtin by installing the specifications so as not to tamper Bmdjulat state. Iraqi market is experiencing a wave of random import carried significant negative effects actually productive and the country 's economy in general , the lack of identification of the need for the local market from imports. Reflections of loans and in the gallery her answer on the implications of the loans on the economy presentation visor at this stage  , said Tamimi: We have to know first why we resorted to borrowing, which means that there is a reluctance in the money department, accompanied by increasing the number of displaced persons and the rise in unemployment to about 23 percent, which should stop him for a course correction and re - look at most of the trends and work with some transparency and realism, and the replacement of loan funds revenues that enter the country. It pointed to the direction of the country to borrow and what will succeed him on to future generations that will suffer from the repayment of loans and benefits, which requires working properly to get rid of state borrowing that, especially since the name of the country large are not allowed to borrow for being an oil country and has a lot of natural resources.  In terms of the currency float, especially given that the affected countries economically are taken and showed a member of the Finance Committee, the beneficiary and Ctaralcbr in the country from the current situation are the coin dealers where the money is taken formally, and then sold in the market by 10 to 11 yarns Maani and no difference in millions of dollars . Float the currency and pointed to the possibility of the application of the currency was floated , such as what happened in Egypt and leave the supply and demand of the process is controlled by the exchange rate and the possibility that service to the economy of the country, and more importantly, the curriculum is the one who import any items imported country? And what enters her? Pointing out that real trader Aisturd but currency traders are importing so that funds go to the country abroad. Any sense said if you had a million dollars , rather than turn to agriculture or industry is given a million to any Ahli Bank gives you every two weeks 15,000 dollars means Year 360,000 dollars in that case there is no need to production which leads to the death of agriculture, industry , and then eliminate the economic development , pointing to the need to encourage the productive sectors, particularly agriculture and industry out of the crisis. And about how to distribute oil revenues among citizens said Tamimi , concluding her speech by saying: must oil revenues are distributed fairly through reconsider ladder state salaries as well as having health insurance and work to restore services through it , we can say: the oil revenues properly distributed and not distributed money but provide services to settle the citizen psychologically and economically.

[tigergorzow]

13 minutes ago, yota691 said:

And about how to distribute oil revenues among citizens said Tamimi , concluding her speech by saying: must oil revenues are distributed fairly through reconsider ladder state salaries as well as having health insurance and work to restore services through it , we can say: the oil revenues properly distributed and not distributed money but provide services to settle the citizen psychologically and economically. 

 

14 minutes ago, yota691 said:

Float the currency and pointed to the possibility of the application of the currency was floated , such as what happened in Egypt and leave the supply and demand of the process is controlled by the exchange rate and the possibility that service to the economy of the country,

Yota Thanks,  DV,  It is time to get results and mean what you say with actions because the Iraqi citizens are waiting on you procrastinators to share unconditionally all of the natural resources wealth with them.   

Always Keeping The Faith!!

GO RV!!

[txdinargirl]

Bump

[blueskyline]

.. is she say that the oil revenues are already distributed amongst the citizens in the form of health care and social services ???((((we can say))))): the oil revenues properly distributed and not distributed money but provide services to settle the citizen psychologically and economically. 

[Theseus]

I spun a yarn last night. That dang cat got into it and pages went everywhere.

[tigergorzow]

3 minutes ago, blueskyline said:

And about how to distribute oil revenues among citizens said Tamimi , concluding her speech by saying: must oil revenues are distributed fairly through reconsider ladder state salaries as well as having health insurance and work to restore services through it , we can say: the oil revenues properly distributed and not distributed money but provide services to settle the citizen psychologically and economically...... is she say that the oil revenues are already distributed amongst the citizens in the form of health care and social services ???

blueskyline,  They all are speaking in code to keep us DV trackers off the trail but unfortunately for them not gonna happen because we are too persistent til the end....

[yota691]

Also says follow the Egypt way.... 

[Lorre]

http://www.tradingeconomics.com/egypt/interest-rate

 

Egypt Interest Rate Notes
In Egypt, interest rate decisions are taken by the Central Bank of Egypt (CBE). The Central Bank of Egypt official interest rate is the overnight deposit rate. The CBE is committed to achieving, over the medium term, low rates of inflation which it believes are essential for maintaining confidence and for sustaining high rates of investment and economic growth. This page provides - Egypt Interest Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Egypt Interest Rate - actual data, historical chart and calendar of releases - was last updated on January of 2017.

 

Edited January 27, 2017 by Lorre

[Lorre]

Float the currency and pointed to the possibility of the application of the currency was floated , such as what happened in Egypt and leave the supply and demand of the process is controlled by the exchange rate and the possibility that service to the economy of the country, and more importantly, the curriculum is the one who import any items imported country? And what enters her? Pointing out that real trader Aisturd but currency traders are importing so that funds go to the country abroad. Any sense said if you had a million dollars , rather than turn to agriculture or industry is given a million to any Ahli Bank gives you every two weeks 15,000 dollars means Year 360,000 dollars in that case there is no need to production which leads to the death of agriculture, industry , and then eliminate the economic development , pointing to the need to encourage the productive sectors, particularly agriculture and industry out of the crisis. 

 

In the first part I believe is is just trying to say let the currency float like all other currencies...

 

In the second part,I believe he is trying to state, if interest rates are to high, there is no need to invest in agriculture etc. The yield is to high. They can just sit around and make money. Jmo.

Rates in Egypt currently

Egypt Interest Rate
The central bank of Egypt left its benchmark overnight deposit interest rate unchanged at 14.75 percent on December 29th. Earlier on November 3rd, the bank raised rates by 300 bps and float the pound, aimed to rebalance dollar shortage and secure a $12B loan from the IMF. The annual inflation rate went up to 19.4 percent in November, reaching the highest since November 2008 and is expected to keep rising in 2017, driven by economic reforms, namely, subsidy cuts and tax increases. The overnight lending rate was also left steady at 15.75 percent. Interest Rate in Egypt averaged 11.41 percent from 1991 until 2016, reaching an all time high of 21.40 percent in October of 1991 and a record low of 8.25 percent in September of 2009.

Edited January 27, 2017 by Lorre

[Laid Back]

"liberalization of the currency to be available to all"

No more exchange control

End of currency auctions

Give real market value to the dinar

[yota691]

 

Here a thread on this subject on Egypt that I've been following for quite some time..

[Lorre]

17 minutes ago, yota691 said:

 

Here a thread on this subject on Egypt that I've been following for quite some time..

Exactly! . Thanks Yota!

[sandfly]

Thanks yota 

[Big_J]