coorslite21

One of the things I like about you the most....you are direct!....and I appreciate that quality. My apologies...a friend sent it....it seemed odd....and I didn't look at the date... Perhaps in hind sight it illustrates the tremendous progress that has been made......although I admit that wasn't why I posted it. Take care and enjoy the Super weekend.... CL

Economy The Central Bank of Iraq on the exchange rate: changing it confuses the markets and squanders the gains Mustafa Shilani 2022/02/20 19:29 Photo: Archive Iraq Iraq Economy OIl ERBIL (Kurdistan 24) – The Central Bank of Iraq pointed out on Sunday that any unplanned change in the US dollar exchange rate would lead to economic stagnation and confuse local markets. In late 2020, the CBI decided to raise the price of selling the dollar to banks and currency exchange to 1,460 dinars from 1,182 dinars in an effort to bridge the inflation gap in the 2021 fiscal budget after the collapse of oil prices, which is the primary income of the financial resources of the whole country. The CBI said in a statement that the current exchange rate achieved many positive results, the most prominent of which was reducing the state's general budget deficit to achieving a surplus at the end of 2021 and giving local producers and investors an essential competitive advantage with imported goods. It added that "the repetition of changing the exchange rate within short times without study by relevant authorities leads to economic recession, confuses the work of local markets, increases speculation on foreign currency, and squanders the gains made by the current exchange rate." The bank continued, "despite the rise in international oil prices, there is no link between this rise and the objectives and results of changing the exchange rate." "The current rise in oil prices will enable the Iraqi government to properly rebuild the Iraqi economy and build sufficient financial buffers to face any future fluctuations in international oil prices." This statement came after claims circulated in the media about the existence of government efforts to reduce the US dollar price. The Iraqi parliament hosted the Governor of the Central Bank to talk about the exchange rate, but the Minister of Finance refused to attend despite being summoned. Speculation about the situation led to fluctuating exchange rates in the grey market. Latest News 3 Hours Kurd re-elected Nineveh deputy governor 4 Hours Three persons killed in Israeli airstrike on building west of Damascus: SOHR 6 Hours Kurdistan Region willing to develop ties with Azerbaijan, PM Barzani writes to President Aliyev 9 Hours Strikes on Gaza's Rafah as US warns of potential 'disaster' Kurdistan24 ©Copyright 2021 All Rights Reserved Listen To Kurdistan24 Radio On Download Kurdistan24 Applications On Eutelsat11677 H 5040 NileSat11354 V 27500 Hotbird11373 H 27500 100.7FM SLEMANI HALABJA 99.7FM ERBIL KIRKUK DUHOK App StoreGoogle PlayGalaxy StoreHuawei Store Site Map - Privacy Policy - About - Contact - Frequencies and Apps - Jobs - Archive

Kind of tired of hearing the garbage that Iraq must diversify its income streams before any possible revaluation..... Russia....92% reliant on oil revenue....with very little debt... Saudi Arabia was all oil and are just now expanding into other areas because of depleted in ground oil reserves....They have a 27 cent valuation to the USD... Give me 27 cents......all day! CL

China is part of a new world order that is planning to bring American and Western dominance to an end. Don't underestimate this opponent.... CL

To the thread title...... 20 years later...whole towns and cities in ruin.....Hundreds of thousands dead with as many suffering life rehabilitating injuries...and a currency's value suppressed by the leader of the free World... Iraqi's must just love America..... CL

They are transitioning and operating fully as a BRICS nation today... CL

Sometime ago I suggested Iraq was already with BRICS. Links were requested and I was pretty much roasted for my suggestion. Logically....A gold backed PetroYuan or a FIAT backed Petrodollar....kind of a no brainer.... Then to the auctions.....Russia, China, Iran and all those other axis of evil countries are loading up.....another no brainer... At least in my world.... CL

Warped would be Biden....not you...CL

BRICS.....Iraq will be better off with them. BRICS is pro fossil fuel....the US has said they want to eliminate the use of fossil fuels. Has the US really been a friend and supporter to Iraq for the past 20 years or so? Ask the every day citizen in Iraq that question..... CL

So that's the equivalent of about $200 billion USD in reserves? Any one know off the top of their head what their GDP is?.....their debt? CL

Yes....an Obama production....many holes in the workings....film was too long....but the concept on what a result in society might be if an EMP, or massive Cyber attack occurred are sound and thought provoking. Years ago HR 2417 , the Shield Act, was introduced in Congress. The concept was intended to prevent the entire American Grid from going down in the event of an EMP, whether natural, or man made. Cost was less than $1 billion.....the bill never gained any traction. Government and Military facilities are all protected in this manner. This should tell you Government today doesn't give a damn about any of us. Just my thoughts today. CL .

For many years the Kurds have stated 17% of the oil revenue was an HCL requirement. The 3 year budget was at 14%. Any hold up on this by the Kurds shouldn't be a surprise. Sunni, Shiites or Kurds... I'll go with the Kurds every time.....CL

A little more... CL https://ina.iq/eng/30933-al-sudani-meets-in-davos-with-managing-director-at-jp-morgan-mena.html

https://ina.iq/eng/30913-iraq-engages-in-business-meeting-in-davos-with-57-international-companies.html

As today is the 15th.....and there was some suggestion by those supposedly in the know this would be the day......what's the excuse going to be this time....?

https://www.weforum.org/events/world-economic-forum-annual-meeting-2024/ Always good to be informed...... CL

Yes it is!....CL

WEF meets in Davos.....14th to 19th.....CL

Why wait for an RI/RV....if you feel so tortured by the comments here... you always have the option to leave. You don't need this site to inform you on a change in value of the IQD. Just my thoughts.....CL

Soooon!!!!

IPBL: Al-Sudani support for CBI measures enabled the economy recovery Economy +A -A INA - LIVE UPDATES - BAGHDAD The Iraqi Private Banks League - IPBL confirmed on Monday, that Prime Minister Muhammed S. Al-Sudani’s support for the procedures of the Central Bank of Iraq - CBI enabled the economy to advance. “The government implemented, since assuming responsibility, procedures that have developed a detailed road map to address the loss of methodology, the previous dispersion in financial policies, the chaos in managing the economy, and the imbalance that occurred as a result of the lack of coordination between the two financial policies," said the advisor to IPBL, Samir Al-Nusairi, to the Iraqi News Agency - INA. He added, "These steps resulted in the issuance of joint reform decisions to enable the economy to advance to good growth rates confirmed by international organizations, especially the reports of the World Bank and the International Monetary Fund. They acknowledged that the Iraqi economy in 2023 left fragility to a gradual recovery and achieved an inflation rate at an annual rate of 3.7%, which is lower compared to 7%, in January 2023." "This rate is the lowest compared to inflation rates in Arab and regional countries for the same period, this is one of the goals of monetary policy by reducing inflation and maintaining the general level of prices despite the fluctuation in the exchange rate, in addition to the expectation of achieving growth in output of non-oil GDP by 5%," he included. Al-Nusairi stressed, "The procedures also included organizing the financing of foreign trade and moving banks to build trust relations with global correspondent banks as well as obtaining their approval to open accounts for our banks with them and allowing commercial and banking dealings with them directly in addition to gradually leaving the electronic platform and introducing new foreign currencies into dealing for foreign trade purposes with China, UAE, Turkey and India, in addition to the US dollar, which will help stabilize the exchange rate in the trading market.” "The measures were also supported by the serious approach of the government and the Central Bank to move and transform from the cash economy to the digital economy and focus on developing electronic payment systems and securing the infrastructure for that, establishing a national company for payment systems, reconsidering the structure of banking financing, and preparing to launch the national lending strategy and establishing Riyada Bank to finance small and medium enterprises and to reconsider the structural, regulatory and supervisory structure of the bank’s specialized departments," explained Al-Nusairi. He added, "The important and basic priority that the Central Bank is working on includes preparing to launch the financial inclusion strategy, as the number of accounts opened in banks has grown by 14%, to reach more than 10 million accounts, while the number of credit cards issued has reached more than 18 million cards." 8-01-2024, 18:30 facebook twitter Whatsapp telegram print Edit Related news IPBL announces readiness to implement CBI instructions regarding exchange rates Economy 12:07 The Governmental Measures will tackle the rise of Dollar prices: IPBL Economy 01:10 In response to PM's decisions... IPBL announces the development of the E- payment Economy 01:10 Hot News Most read Al-Qassam Brigades: Bombing two tunnels of Zionist forces International 09:45 Arnold, Liverpool defender ruled out for a few weeks Sport 07:22 The Cabinet holds the 2nd regular session, including decisions politics 06:39 Iraq: War repercussions on Gaza is a negative impact on the entire region's stability politics 04:51 Al-Sudani Meets Families of Interior Ministry Martyrs politics 02:13 The Iraqi News Agency (INA) is the first news agency in Iraq, and the second to be launched in the region after the Egyptian Middle East News Agency. The agency was established during the era of former President Abdel Karim Qassem in March of 1959 as an official news agency. All news politics Security Economy Local Sport International Investigations and reports Photo reports Articles Culture and art Multimedia Live broadcast العربية كوردي تركماني Important links: Iraqi Media Network website Al-Sabah newspaper Iraqi Network Journal Media Training Institute IMN Board of Trustees Get it fromGoogle Play Download fromApp Store Get it for phonesHuawei Follow us onNabd App All rights reserved © 2024.

Tell that to Putin & Russia....while you're at in check out Russian debt.....miniscal....CL

There is a span of time each week where all world banking is closed....On the weekend when the far east opens up is the best window in my mind....east to west as things open....and "suddenly"! CL

Sound reasoning.....and then again....It's Iraq!😉 CL

Somehow I doubt many Iraqis, or others in Arab nations, think of their major financial institutions in a feminine manner... CL