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DetroittoAZ's Achievements


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  1. If Iran keeps using the dinar it's value will go up. We want the demand for dinar๐Ÿ’ฐ๐Ÿ’ฐ๐Ÿ’ฐ
  2. ๐Ÿ˜๐Ÿ˜๐Ÿ˜๐Ÿ˜๐Ÿ˜๐Ÿ˜๐Ÿ˜๐Ÿ˜๐Ÿ˜๐Ÿ˜๐Ÿ˜๐Ÿ˜๐Ÿ˜๐Ÿ˜๐Ÿ˜
  3. His comments however did not reassure Iraqi politicians that attended the six-hour parliamentary session. A number of lawmakers requested evidence and data confirmation that the damaged was caused by water from heavy rainfall. "The information that was presented to us indicates that the damaged currency is 12 billion Iraqi dinars, not seven billion," Ahmad Hama Rashid, a member of the Iraqi parliament's finance committee said. Mr Rashid said during the next parliamentary session Mr Allaq will be questioned and will have to provide solid evidence to the cabinet. Former politican, Hanan Al Fatlawi, called on Prime Minister Adel Abdul Mahdi to hold Mr Allaq accountable for the loss of funds. "The Central Bank governor and director of Rafidain Bank need to be held accountable for negligence," Ms Al Fatlawi said on Twitter. According to parliament, corruption, shell companies an "phantom" public employees who receive salaries but do not work have cost Iraq the equivalent of $228 billion dollars since 2003. The figure is more than Iraq's gross domestic product and nearly double the annual budget. Iraq is ranked 169 out of 180 countries in Transparency Internationalโ€™s corruption perception index, with the lowest state being the most corrupt.
  4. Yeah that's what I've been picking up over these Iraq, Iran articles we've been seeing. And the people of Iran using Iraqi Dinar also.
  5. Iran, feeling sanctions bite, looks for outlet in Iraq By QASSIM ABDUL-ZAHRA and PHILIP ISSA | Associated Press BAGHDAD โ€“ At this year's Baghdad International Fair, Iranian businessmen displayed thick, colorful Persian rugs to impressed onlookers while others showcased the latest in Iranian manufacturing in power generators and industrial tools. For Iranian companies, the annual Baghdad International Fair is a major event, as exporters in carpets, foodstuffs and heavy equipment look to score sales in Iraq's import-dependent economy. But this year's edition, running this week, is an even bigger deal than usual: Iran, already feeling the bite of newly re-imposed unilateral U.S. sanctions, is turning to its neighbor to soak up its exports in agriculture, manufacturing and energy. Ambassador Iraj Masjedi promised Iran would grow its already flourishing trade with Iraq. The sanctions, he said, "will not affect the relations between the two countries." President Donald Trump pulled the U.S. out of the 2015 nuclear deal that Iran struck with world powers in May. United Nations monitors say Iran still abides by the deal, in which it agreed to limit its uranium enrichment in return for the lifting of international sanctions. Since then, Trump announced what he billed the "toughest ever" sanctions regime against Iran and the country has seen its oil exports crash and its currency lose more than half its value. The full brunt of the measures came into effect Nov. 5 when the U.S. re-imposed oil and banking sanctions. However, other major economies including Europe, Russia and China have refused to take parallel measures, and Iran can still do business with the outside world. Iraq is Iran's second largest export market. Since 2003, when the U.S. invasion plunged the country into civil war, Iraq has depended on Iran for everything from food to machinery, to electricity and natural gas. Masjedi boasted that trade between the two countries was on track to reach $8.5 billion this year and said Iran's outlook is to reach $22 billion annually -- more than triple its $7 billion in volume in 2017. He did not give specifics. Non-American companies are free to do business with Iran, so long as they do not also do business with the U.S., or through U.S. financial institutions. "We will not tie ourselves to the dollar," said Masjedi. More than 60 Iranian companies are represented at the Baghdad fair, which runs until Nov. 19. Mir Zad, director of Hisam, which sells generators and other electrical equipment, said he was aiming to secure deals worth around $1 million at the fair. He wasn't concerned about the new restrictions on the dollar; deals could be made in Iraqi dinar, he said. Still, a substantial portion of trade between the two nations is done in energy and cannot easily be structured outside the new sanctions regime. It puts Iraq in a delicate position as a partner of both Washington and Tehran. With its electricity sector in tatters, Iraq depends on Iranian gas and power generation to power its economy. A temporary electricity reduction last summer fueled unrest in Iraq's southern provinces. The U.S. Embassy in Baghdad last Thursday announced it was granting Iraq a 45-day waiver to allow it to continue to purchase gas and electricity in Iraq. It said the exception would give Iraq time to "take steps toward energy independence." But it could take a year or longer to secure enough new power to make up for lost imports, said economist Bassim Jameel Antwan. In the meantime, Iraq may have little choice but to continue to import from Iran. And Iran's deep entanglement in Iraq's political and military affairs further complicates the picture. Iran has the ear of several of Iraq's top politicians and trains, finances and advises some of the largest militias in the country. While it is precisely this sort of influence the U.S. is aiming to curb, Iran can still play the role of spoiler in Iraqi politics. "You plan for one thing, and the result might be something else," said Antwan. Since May, Iran's currency the rial has sank in the black market from 60,000 to 140,000 to the dollar. Oil exports crashed from 2.5 million barrels per day in May to 1.85 billion in October and are expected to sink some more. ---- Associated Press writer Amir Vahdat contributed from Tehran.
  6. Iraq to launch investigation into millions of dollars 'missing' from public bank Central bank blames heavy rainfall for damaged bills, lawmakers request evidence Mina Aldroubi November 14, 2018 Updated: November 14, 2018 12:13 PM Ali Al Alaq, the Governor of the Central Bank of Iraq. (Photo: Antonie Robertson/The National) Iraq's parliament is expected to launch a probe to determine how $6 million worth of local currency stored in public bank coffers was damaged by heavy rain. Central Bank Governor Ali Allaq appeared in front of lawmakers in parliament on Monday to answer questions on the case which dates back five years. "At the end of 2013, the vaults of the Rafidain Bank were flooded because of huge rains at the time, damaging the bills that were stored there," Mr Allaq said, adding that they were worth around seven billion Iraqi dinars. Lack of transparency and unreliable governance has been at the heart of Iraq's woes, made worse by the effects of a costly three-year war against ISIS that coincided with a dip in oil prices. Mr Allaq said the central bank reprinted new bills to replace the soaked ones but, since the money had not been in circulation, the only real "loss" was the cost of printing.
  7. Thought this page was pretty interesting, because if you look at all of the recent videos it's showing a bunch of clips of learning how to drive. Are they expecting a increase in people buying cars and driving ๐Ÿค”
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