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Laid Back

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Everything posted by Laid Back

  1. “Specialists confirm that the dollar exchange rate will remain for another three years, due to the existence of an agreement between the Iraqi government and the International Monetary Fund, related to financial policy, and managing the issue of the dollar exchange rate, in proportion to the volume of currency circulating in the market.” There you have it. In another 3 years they will complete the White Papers reform Project. Go White Paper Reforms Go Economic Growth Go Stronger Dinar
  2. Pretty much 😂😂😂😂 Clearly they are getting ready for an stronger Dinar. Foreign currency reserves growing Gold reserves growing Oil exports Growing Go Stronger Dinar
  3. CBI is moving in the right direction. Gold reserves increased by 35% Very good news.! Go CBI Go higher reserves Go stronger currency
  4. Mr. Muqtada al-Sadr has accurate accounts, and he has patience, and we call him (strategic patience). “The consensus government is bringing back the same tools that the reference warned against, and there is no success in consensus, but the game will be revealed after a month or two."
  5. Because of GREED they make more money selling the oil directly bypassing the National Oil Company. They have been talking about this for many years.
  6. Kurdistan region gives the Oil to the Federal Government and Federal Government gives 17% of the Budget to Kurdistan Region Go HCL Go profit sharing Go purchasing power
  7. I believe SADR is removing his deputies from parliament to call to a massive street protest against the political parties that continues with the blockage to complete the government. Go SADR Go Protest Go revolution
  8. Education is the tool that breaks down all barriers. Education is part of the foundation of all progress and growth, both as an individual and as a society.
  9. 4 trillion dinars at the actual rate is $2.74 billion dollars. I don’t believe it. The auctions have been going on since 2003 and the central sales about $1 billion dollars a week in the currency auctions. It is time to stop the auctions and give real market value to the dinar or continue with the rampant corruption. CBI it is up to you to make a decision on the matter. Go CBI Go new monetary policy Go end of the daily auctions Go stronger dinar 1+
  10. Its been 8 months since the last elections and still no seated government. If the Supreme Court decides to dissolve parliament and go to new elections, forget about an RV at least till 2024. If we are lucky.! The Iraqi soap opera continues.
  11. “The Iraqi economy has now entered a stage of adaptation, development, and release of its own forces and important latent preparations in a positive, promising and unprecedented manner after the dangerous recession that the country“ Go Iraq Go development Go growth Go stronger dinar 1:1
  12. Foreign currency reserves moving in the right direction ⬆️🆙 - The foremost advantage of foreign currency reserves. It serves in meeting the international finance obligations including sovereign and commercial debts, financing of imports. - It helps in boosting the confidence of the market in the ability of a country to meet its external obligations. - It acts as cushion for unforeseen external shocks. - It Increases confidence of foreign investors and thus helps in boosting foreign direct investment (FDI). -It is use to adjust foreign exchange rate. The foreign currency reserves are invested mainly in instruments abroad which have the highest credit rating and which do not pose any credit risk. These include sovereign bonds, treasury bills and short-term deposits in top-rated global banks besides cash accounts. Go CBI Go international Go stronger dinar
  13. “FinanceMinister Ali Allawi as saying today, Wednesday, that the country's cash reserves are expected to rise to more than 90 billion dollars by the end of 2022, noting that this level is a record for Iraq.” Countries use foreign currency reserves to keep a fixed rate value, maintain competitively priced exports, remain liquid in case of crisis, and provide confidence for investors. They also need reserves to pay external debts, afford capital to fund sectors of the economy, and profit from diversified portfolios. Go Iraq 🇮🇶 Go CBI Go foreign currency reserves Go stronger dinar
  14. Thanks for your input Dinarrock, Why they didn’t kick the Iraqi army azz when the Iraqi army took control of the oil well in kirkuk in October 2017? At that time kirkuk was under control of Peshmerga Fighters.
  15. “Iraqi Kurdish Prime Minister Masrour Barzani said on Tuesday that the semi-autonomous region rejected a federal court ruling on its oil and gas activities as “political” and not constitutional.” It is time to send the Army to take control of the Oil well in the Kurdistan región. Go Iraq 🇮🇶 Go federal court Go ruling
  16. IMF Staff Concludes Staff Visit to Iraq May 19, 2022 End-of-Mission press releases include statements of IMF staff teams that convey preliminary findings after a visit to a country. The views expressed in this statement are those of the IMF staff and do not necessarily represent the views of the IMF’s Executive Board. The economy is recovering well amid high oil prices, with real GDP projected to reach its pre-pandemic level this year. Cushioning the impact of surging food prices on the most vulnerable is the most urgent priority. Using the current favorable oil market conditions to accelerate structural reforms and advance socio-economic priorities will be key to strengthen Iraq’s medium-term economic resilience. Washington, DC: An International Monetary Fund (IMF) mission, led by Tokhir Mirzoev, visited to Amman, Jordan, during May 14-18, 2022, to discuss with the Iraqi authorities recent economic developments, the impact of global events on the economic outlook, and the country’s policy priorities. At the conclusion of the visit, Mr. Mirzoev issued the following statement: “The economic recovery is well underway. In 2021, buoyed by the resumption of activity, a more accommodative fiscal stance, and stimulus measures by the central bank, real non-oil GDP rebounded by an estimated 20 percent and is poised to expand by around 5 percent this year. Oil output is projected to reach its pre-pandemic level and bring overall real GDP growth to 10 percent in 2022. The war in Ukraine is affecting Iraq mainly through its global impact on commodity prices. In 2022, soaring oil revenues will more than offset the increased food and energy import bills. As a result, the fiscal and current account balances are projected to post double-digit surpluses in percent of GDP. Nonetheless, headline inflation is expected to climb to 6.9 percent, up from 6 percent last year, driven in part by higher food prices, which are adversely affecting the poorest segments of the population. “Cushioning the impact of surging food prices on the most vulnerable is thus the most urgent priority. With fiscal policy paralyzed by the absence of the 2022 budget—which limits current fiscal expenditures to last year’s level—strengthening spending efficiency, maintaining tight control over public hiring, and reprioritizing expenditures within the overall budget cap will be essential to enable boosting targeted cash transfers to the most vulnerable and containing the poverty impact of the rising cost of living. “In an environment of high oil prices and against the background of elevated global risks and uncertainty, the focus of macroeconomic policies needs to shift toward consolidating economic stability and strengthening Iraq’s long-term economic resilience. In the short run, maintaining fiscal discipline and tapering the central bank’s lending support to the real estate sector will help avoid adding to inflationary pressures. In addition, despite large reconstruction and other investment needs, limited near-term absorptive capacity, fiscal vulnerability to oil price volatility, and the challenges of the global energy transition call for building buffers for the future by saving a portion of oil revenues via a carefully designed sovereign wealth fund. “The current favorable oil market conditions also provide an opportunity to accelerate structural reforms envisaged in the authorities’ “White Paper.” Strengthening the quality of public services and creating the fiscal space for much-needed investments and the social safety net require a civil service reform, reducing inefficient energy subsidies, diversifying fiscal revenues, and strengthening governance. Fixing the electricity sector will be crucial to reduce fiscal costs and enable private sector productivity. Improving the coverage and targeting of social assistance will help better protect the most vulnerable. Enhancing governance in large state-owned banks and completing their audits and restructuring will facilitate access to finance and job creation by the private sector. “The mission welcomes the authorities’ increased attention to the challenges of climate change and the release of Iraq’s first Nationally Determined Contribution document last year. In the coming months, the mission encourages prioritizing the preparation of national climate adaptation and mitigation plans, development of green financing, and full integration of climate-related priorities into the macroeconomic policy framework. The IMF stands ready to support Iraq in these endeavors. “The IMF staff team would like to thank the authorities for candid and productive discussions and looks forward to continuing close cooperation with Iraq in the period ahead.” IMF Communications Department
  17. There has been increasing discussion about whether central banks need capital and, if so, how much. There are a number of possible reasons. First, the trend over the last decade of greater independence for central banks to implement monetary policy has raised the question of central bank financial independence. Second, central banks have been more aware of the risks they face through the use of more sophisticated risk management techniques. Third, there is a pressure, particularly resulting from the International Monetary Fund, for higher levels of transparency in central banksí accounting practices. This step strengthens the central bank's financial position internationally and gives it strength. Go Iraq Go CBI Go international Go stronger dinar
  18. I agree horsesoldier, Sadr should call on the people to start protesting on the streets. He has done it before. Go Sadr Go protesters Go revolution
  19. No law can be passed before the executive branch completes its constitutional entity in accordance with the results of the 10/10/2021 elections. No seated government 7 months after the elections. The way for the caretaker government to submit a draft budget law for 2022, is blocked Maliki, the Shiite political party and Iran are winning. The Iraqi soap opera continues.
  20. Oman oil production 1.1 mbpd Iraq oil production 4.5 mbpd Go Iraq Go Oil production Go HCL Go stronger dinar
  21. “ According to a statement by the authority, to enhance the efficiency of the financial markets through the exchange of experiences, information and advisory services related to the trading of securities , facilitating the participation of brokers in training and development programs , harmonizing listing requirements - promoting joint and mutuallisting and setting basic rules for the development of indicators.” If markets are efficient, then all information is already incorporated into prices, and so there is no way to beat the market because there are no undervalued or overvalued securities available. Omani rial against the US dollar $2.60 Iraqi dinar against the US dollar $0.00068 Go Iraq Go international Go financial markets Go Growth Go stronger dinar
  22. They are working on the rehabilitation of the financial sector. (White Paper Axis 2) Integrated financial management information systems (IFMIS) are systems to support management of public sector budgetary, financial, and accounting operations and promote better public financial management (PFM) with a centralized registry of public sector revenues and expenditures. The IFMIS integrate budgetary, accounting, treasury, and public debt management processes, as well as generate corresponding reporting documents, mainly the financial statements. The successful implementation of an IFMIS will produce timely, relevant, and reliable financial data to promote fiscal discipline, assist with resource allocation, and improve operational efficiency and fiscal transparency. IFMIS, therefore, constitute a powerful tool to enhance the PFM of countries, although they tend to be very complex and demand significant human and financial resources. A treasury single account (TSA) is an essential tool for consolidating and managing governments' cash resources, thus minimizing borrowing costs. In countries with fragmented goverment banking arrangements, the establishment of a TSA should receive priority in the public financial management reform agenda. Iraq 🇮🇶 continues moving forward on their quest to an open market economy. Go Iraq Go white Paper reforms Go development Go growth Go stronger dinar.
  23. The Iraqi Supreme Court has ruled that a referendum on Kurdish independence was unconstitutional. The ruling comes nearly two months after the vote, in which 92% of Iraqi Kurds supported secession. Following the ballot, Iraq's government seized disputed territory, including the oil-rich province of Kirkuk. The head of Iraq's autonomous Kurdistan Regional Government, Nechirvan Barzani, called the ruling "unilateral", but said he would not challenge it. The top court also decided to annul "all the consequences and results of the referendum", a statement said. Iraqi Prime Minister Haider al-Abadi welcomed the ruling, saying his government "refused to have anything to do with" the vote. It happened once in 2017. it could happen again.
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