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Everything posted by blueskyline

  1. blueskyline

    Zimbabwe currency New currency for Zimbabwe as foreign currency crisis deepens in News / Africa by RAY NDLOVU announced that the country had ditched the 1:1 ratio between Zimbabwe bond notes and US dollars, a rate maintained by the central bank for nearly three years. Image: Jekesai NJIKIZANA / AFP Reserve Bank of Zimbabwe (RBZ) governor John Mangudya has introduced a new local currency - “RTGS dollars” - as the country's severe foreign currency crisis persists. The announcement was made on Wednesday. Mangudya also announced that the country had ditched the 1:1 ratio between Zimbabwe bond notes and US dollars, a rate maintained by the central bank for nearly three years. Mangudya, who presented the monetary statement after several weeks of delay, also opened up an interbank system where the RTGS dollars would be traded for foreign currency by local banks on “a willing buyer and willing seller basis". “We say that the RTGS dollars are composed of RTGS balances, bond note and bond coins and are in the basket of currencies which Zimbabweans are using,” Mangudya told the media. RTGS stands for "real-time gross settlement" and is the electronic balance in local bank accounts. Last year, the bank ordered the separation of local bank accounts from the nostro accounts that have US dollars. The central bank chief was non-committal on the exact exchange rate to be used between the US dollars and the RTGS dollars. Instead, he indicated that the market “would determine” the relative value of the two currencies. Mangudya said depositors could use their RTGS dollars to buy foreign currency from the banks, a move presumably aimed at choking the lifeblood of the black market, which had become the source of buying the scarce US dollars. It is also meant to avail hard currency to forex-starved companies that have been struggling to import raw materials. About 100 companies have closed in the 15 months that President Emmerson Mnangagwa has been in office. Many of these were too starved of forex to continue operating, according to a tally from the master of the high court in Harare seen by Sunday Times. Since November 2016, the rate between the US dollar and the bond note was 1:1, but that value was eroded on the black market by more than four times. Ahead of the monetary policy statement on Tuesday, the US dollar and bond note were trading at 1:4 on the black market. Economists expected “short-term instability”, which they said was inevitable as a result of the market trying to find a rate. Ashok Chakravati, an economist in Harare, said the monetary policy was a “courageous move” by the central bank. “It’s a request that has been in the works for many months by companies. It is a sign that this is a listening government and also a listening central bank,” he said. Ahead of the monetary policy statement there was speculation that a new currency would be introduced. Neville Mandimika from Rand Merchant Bank said the introduction of a local currency was not a bad thing and in fact was needed. “The critical issue here is on how it's introduced. There are various steps that must be followed to ensure that the currency will be accepted as a store of value. Of these, the most important is ensuring that the economy has adequate forex reserves, which will act as a shock absorber. At this stage, the reserves simply aren’t there to justify its reintroduction,” said Mandimika in an e-mail. Zimbabwe's major business associations have been pressing the government either for a local currency to be introduced or for the SA rand to be adopted as a unit of trade. Some of the other highlights of the monetary policy statement include: effective 25 February, depositors will be able to move US dollars locally between banks under the interbank system; essential imports such as fuel and electricity will continue to have forex allocated by the Forex Allocation Committee; gold producers will keep 55% of their earnings in foreign currency; tobacco and cotton growers will receive 30% of their earnings from crop sales in foreign currency. Tobacco merchants will have 80% of their earnings in foreign currency; All forex holdings will be liquidated within 30 days at the market rate for the day; and a legal instrument will be gazetted that allows for the use of RTGS dollars and all entities, including government and individuals, will recognise the new currency.
  2. I think its March as in moving forward . And may I never be more Wrong about anything in my whole life ........Nasari looks adamant about raising the purchasing power. I hope it really is now and not later !
  3. blueskyline

    Zimbabwe currency . Zimbabwe Devalues Its Quasi-Currency in FX Regime Overhaul By Godfrey Marawanyika , Antony Sguazzin , and Paul Wallace February 20, 2019, 8:44 AM ESTUpdated on February 20, 2019, 1:54 PM EST So-called bond notes to be denominated as electronic currency Central bank introduces interbank foreign-exchange market Zimbabwe’s government dropped its insistence that a quasi-currency known as bond notes are at par with the dollar as it overhauled foreign-exchange trading and effectively devalued the securities. The measures are a step toward trying to create a new currency and stabilize Zimbabwe’s economy, which has been plunged into crisis as a shortage of foreign currency stoked the fastest increase in consumer prices in more than a decade and caused shortages of food, fuel and medicine. Zimbabwe abandoned its own currency in 2009 after inflation spiraled to 500 billion percent, allowing the use of the U.S. dollar and other units as legal tender. Bond notes were introduced in 2016. The central bank will immediately establish an interbank foreign-exchange market in which the bond notes will be denominated as electronic money known as RTGS dollars, Governor John Mangudya said at a briefing Wednesday in the capital, Harare. While the government has previously insisted that bond notes and RTGS dollars are worth the same as U.S. dollars, the units currently trade at between 3.66 and 3.8 to the dollar respectively on the black market. Denominating bond notes as RTGS dollars will “establish an exchange rate between the current monetary balances and foreign currency,” Mangudya said. “The new framework is set to bring certainty, predictability and functionality to the economy’s foreign-exchange market.” ‘Effective Devaluation’ The announcement amounted to an effective devaluation, Harare-based economist John Robertson said. He didn’t mention it by name, but they have devalued it,” he said. “We should now see a convergence of a stable rate going forward. Buyers and sellers will now need to meet and agree on a rate.” Mangudya said that under the new system introduced on Wednesday: RTGS dollars would be used by all entities including the government to price goods and services The use of RTGS dollars would eliminate the existence of a multi-pricing system; prices should either remain at their current levels or decline “in sympathy with the stability in the exchange rate” The central bank has arranged “sufficient lines of credit” to enable it to maintain foreign currency to underpin the exchange rate Foreign currency from the interbank market will be used for foreign-payment invoices New Currency “It is a small but key step that will support a long road of reforms needed to bring transparency and clarity to the country’s monetary system,” said Chiedza Madzima, a senior analyst at Fitch Solutions in Johannesburg. The refusal by foreign traders to accept bond notes as legal tender resulted in payment problems for companies such as gold miners and grain millers and exacerbated shortages of raw materials. Shops also charged customers different prices depending on which unit they used to pay, offering discounts as high as 70 percent to those who used real U.S. dollars. The central bank measures are a step toward Zimbabwe reintroducing its own currency, Secretary for Information Nick Mangwana said by phone. Finance Minister Mthuli Ncube has said he wants a new currency introduced within a year. “The move is largely constructive as the government now officially recognizes that U.S. dollars and RTGS$ are not at parity,” Neville Mandimika, an analyst in Johannesburg at FirstRand Ltd.’s Rand Merchant Bank, said in response to emailed questions. “The introduction of a Zim dollar will be just in name, but the RTGS$ is essentially the Zim dollar.” Ncube has given few details on plans for the new currency, beyond that the central bank was building reserves, which currently cover barely two weeks of imports. He’s also trying to restructure billions of dollars of defaulted multilateral debts so that Zimbabwe can obtain new international loans. While a new currency is possible, it’s likely to behave the same way bond notes and RTGS dollars did, said Steve H. Hanke, a professor of applied economics and expert on hyperinflation at Johns Hopkins University in Baltimore. Both units depreciated against the dollar after their introduction. “It would sink like a stone,” he said. “They have created such a mess with the bonds and RTGS dollars. What they should do is get this cancer out of the system.”
  4. Economic reform is achieved by effective economic leadership Economic expert Samir Nusairi Articles Samir Al Nusairi * The main tasks of the government program are to strengthen the economy and rebuild it according to a reform strategy based on time programs, policies and procedures implemented by the ministries and concerned parties according to the principle of service of the people and achieve reform and economic stability and reconstruction and revitalize the economic cycle and achieve prosperity for the people who suffered during 15 years of instability and terrorism and loss For the basic services in order to be able to achieve the new government these goals and wishes should lead the main rings of national economic leaders in the next phase because the national economic elites in various disciplines must be Have an active role in analyzing and assessing the economic reality in Iraq after 2003 and to identify failures and challenges and identify visions, policies and reforms needed for the economy with added and enriched the successful experiences of the bright spots that emerged during the suffering of Iraq from the financial and economic crisis experienced by departing from the national sense of their love for Iraq and its people That the observer and observer of the role of government institutions during the lean years passed by Iraq and still passing by in terms of management of the Iraqi economy notes that there are failures and challenges and black pages related to the loss of methodology and the lack of clarity of policies and programs and the lack of harmony strategies developed in partnership with international organizations and experts with the reality of the Iraqi economy Which depends mainly on oil rents and the consequent structural and structural imbalance in the economy and the lack of stability in the financial system and the monetary system due to the deficit in non-oil revenue and balance of payments deficit and the chronic deficit In addition to the lack of coordination between the financial and monetary policies, in addition to the mismanagement of public funds and the obvious weakness in the economic leadership of most of the governmental economic institutions, in addition to the lack of involvement and giving an active role to the private sector in economic decision-making and shortcomings in the legislative environment governing the economy. All the above failures, combined with political and security instability and the war on terror, have led to economic instability and lack of vision to build a solid national economy capable of drawing the preconditions for a transition to a social market economy that I believe is the solution to our economic reality. The challenges presented above have created the pessimism and gloomy outlook of our economic future among many of our economic elites. But I believe and believe many economists and financial experts that there are points and promising and bright experiences that some economic institutions have done clearly and effectively during the years 2015-2018, . One of the highlights of this march is the experience of the Central Bank in supporting the national economy while maintaining its functions and objectives defined in its law. The most important achievement of the Central Bank is its contribution to achieving economic steadfastness and strengthening the decisive victory over terrorism. I do not want to clarify the executive and development procedures and build balanced relations with Arab, regional and foreign banks and its strategy for the next five years. The results achieved on the scope of the application of monetary policy internally and convince the international financial organizations and the most important official reports issued by them confirm the success of the policy of the Central Bank to achieve an important transition to the Iraqi economy and achieve Stability of the exchange rate and the recovery of the Iraqi dinar and increase its purchasing power, which is one of the objectives of strengthening the economy in the government program. In addition to its various contributions and initiatives to activate the economic cycle and enhance the liquidity of banks and reach a re-bridge coordination between the financial and monetary policies and propose new economic and structural policies to prepare budgets for the coming years and attempts to restore confidence in the banking system. The Central Bank has proved its clear ability to interact and analyze obstacles to work and create conditions to overcome the challenges, and the road is still long before the Central Bank and the competent government agencies in order to achieve a sound national economy so I call on the national economic elites to interact with the points and experiences light and enrich them with their ideas and visions and proposals To build a strong national economy and overcome the challenges and correct the wrong tracks and dialogues transparent and calm without personal and partisan targets, because the abuse of our national economic institutions of sovereign is the abuse of Iraq and its people. * Economist and banker
  5. Theresults achieved on the scope of the application of monetary policy internally and convince the international financial organizations and the most important official reports issued by them confirm the success of the policy of the Central Bank to achieve an important transition to the Iraqi economy and achieve Stability of the exchange rate and the recovery of the Iraqi dinar and increase its purchasing power, which is one of the objectives of strengthening the economy in the government program
  6. Interpol arrests 30 foreign dissidents in Karbala Editorial date: 2019/2/17 16:53 • 1276 times read (Karbala holy: Euphrates News) Interpol detachments in the province arrested more than 30 people of foreign nationalities for violating the conditions of residence. "Interpol, in cooperation with the Directorate of Intelligence and Tourism Security and the Directorate of Residence, has arrested more than 30 people who violate the conditions of residency, some of whom do not have passports," a statement from Karbala police said. The statement pointed out that "the persons of different foreign nationalities were referred to the competent authorities to complete the necessary procedures against them in accordance with the legal contexts followed." He noted that international police detachments operate continuously and in coordination with other security agencies to check the passports of foreign people working in the province of Karbala in anticipation of the presence of wanted or the end of the period of residence or not to get them passports and are these offenses punished by law ".anthy of the mode: Mohammed Al - Tamimi ........I did not think Interpol arrested people ? Hmmm ?
  7. Parliamentary finance reveals the increase of Baghdad to the amount of salaries of Kurdistan Baghdad / .. The parliamentary finance committee, on Sunday, the federal government increased the amount of salaries in the Kurdistan region. "The federal government has sent more than 400 billion Iraqi dinars to the Kurdistan region, as the province to hand over 250 thousand barrels of oil to the federal government every day, for the government to send the share of the whole province of the budget "He said. Abdullah said that "if the region does not deliver oil, Baghdad will send monthly more than 500 billion dinars for the region," noting that "there are differences in the funds sent to the month of 1 and 2, and these differences of about 400 billion, as the government is sending now 317 billion dinars and not more than 500 billion. "
  8. blueskyline

    Harmonization of customs tariff

    Border Ports The customs license is a condition for the exercise of customs work 31-01-2019 11:17 AM Number of readings: 117 Agency of the orbit - Baghdad The head of the Border Crossing Authority, Kadhim al-Aqabi, said on Thursday that no person is allowed to practice customs work unless he is licensed by the General Authority of Customs. In a statement received by Al-Madar, Al-Madar said, "Within the field tours to the border port of Trebil, the head of the Ports Authority met with a group of customs clearance agents and listened to their problems which contributed to solving the dilemma of payment of customs duties and taxes in dollars. As a result of the absence of banking companies at the border crossing, Customs to the transfer of the dollar from the road and the prospects of exposure to risks and after contact with the Director General of Rafidain Bank Dr. Khawla Asadi '. "It was agreed to accept the payment of Iraqi dinar or the dollar and the payment of service fees of 0.085% whether the payment of the customs clearance agent in Iraqi dinar or dollars, and thus brothers can lead agents to open accounts with Rafidain Bank and pay through Visa Card or payment by instruments. She pointed out that 'the penalty stressed that no one allowed to practice customs work unless it is licensed by the General Authority of Customs and charged the administration of the port and the departments responsible for the implementation of the instructions'.
  9. Good Morning Synopsis . One package of Major Laws, Agreements and Good News Colliding Tomorrow A.M. would suit All of us just Fine ... Shortly thereafter but not the first of order . I can go find that elusive 66' Chevelle SS Convertible that's been eluding me ...
  10. blueskyline

    Iraqi Law Gazette Website

    I have a Stupid question . Is the Law Gazette written in Both Arab and Kurdistan ? We now have customs and tariff prices now written in both languages . I was thinking of a remote possibly that if it is not ? Perhaps we may see more items now written in both languages ?
  11. blueskyline

    Harmonization of customs tariff

    Chuck I agree . Cooperation this big ? Just maybe there is a much bigger agreement taking place with hydro carbon proceeds at well ?
  12.اخبار-العراق-السياسية/191307/المباشرة-برفع-الكتل-الكونكريتية-من-محيط-بناية-مقر...... Direct lifting concrete blocks from the vicinity of the Prime Minister's building Iraq News Now 14:18 Last updated The time now is 03:24 PM 256 Watch 0 Share 0 0 0 BAGHDAD / Al-Ghad Press A security source said on Sunday that teams from the Baghdad Operations Command and the Secretariat of the capital began to lift the concrete blocks from the vicinity of the building of Prime Minister Adel Abdul Mahdi. He told "Al-Ghad Press" that "the direct teams lift concrete blocks from the vicinity of the building of the former National Council allocated to the Prime Minister's Office."
  13. blueskyline

    Harmonization of customs tariff

    Thank You Yota GM DVs ....the unification of customs duties between the governments of Baghdad and Erbil, is the first in the history of Iraq......."there is no country in the world, obtained customs fees from within the country"........ This First ever action is Unheard of anywhere else in the world. Very interesting they chose to initiate this Unheard of Action Now .
  14. blueskyline

    IQD Lower Denominations?

    Possibly ......................................... Electronically first ? (So the excellent rumor goes .....?) Furthermore . Yota as always posted a Fantastic article ...." Harmonization of the tariff enters into force between the Kurdistan Region and the federal government in both languages".I would imagine you have to have taxes and tariffs posted in both languages . Before you plan to release New Lower Denominations of currency .........( With both Languages as they have stated they would do) By yota691, June 10, 2018 in Iraq & Dinar Related News
  15. the most remotely believable rumor of a quote on VND I heard was from Breitlings own empirical study. He said that was his job for a time. Empirical Studies of countries. .02 cents .04 was stretching it . He said that is all the country could support . But this was several years ago before Vietnams economy was booming like today ... ?
  16. Party: Abdul Mahdi is entitled to send the Peshmerga to Basra but Kirkuk is the first............. Editorial Date: 2019/2/14 22:23 • 375 times read (Baghdad: al-Furat News) A member of the Kurdistan Democratic Party led by Massoud Barzani, the eligibility of the commander of the armed forces, Adel Abdul Mahdi, send Peshmerga forces to Basra. "The return of the Peshmerga forces to Kirkuk was based on the position of the commander-in-chief of the armed forces when he sent a security delegation to Erbil and formed a chamber of operations between the two sides," Emad Barghalan told the {Euphrates News}, noting that "Peshmerga sacrificed its blood so as not to fall Kirkuk, Forget his role in defending a number of provinces. " He pointed out that "it is the right of Abdul Mahdi to send Peshmerga forces to Basra or any other province; but Kirkuk is the first presence of these forces to protect their areas." Barglan expressed his surprise "of the allegations that prove the illegality of the Peshmerga forces, they are part of the Iraqi defense system and has allocations and salaries as soon as the Iraqi security forces." He added that "Kirkuk is still within the disputed areas and there is Article 140 did not do for this moment and will work and apply all paragraphs, including normalization and statistics after the allocation of funds for this article in the budget of 2019," stressing "the existence of a security vacuum after the withdrawal of Peshmerga from Kirkuk." "The security situation in Kirkuk before the entry of Daqash was settled and safe, and now there are areas in the suburbs of Kirkuk, including Riyadh, Hawija, Khankin and Makhmour Mstabha Laddish," adding that "Turkmen and Arabs suffer from the Peshmerga phobia in Kirkuk." "We respect the forces of the popular crowd and his son; but can not underestimate the right of the Peshmerga, and the Turkmen form a force of (Gendarme) like the strength of the Peshmerga and the Iraqi army."
  17. The US ambassador bargains and buys the debts of deputies and political figures with the dollar against the survival of his country's troops in Iraq 19:45 - 12/02/2019 Information / special ... revealed to the Commission on Security and Defense parliamentary, Tuesday, for the US ambassador to Baghdad , "Matthew Tauler" conducting intensive contacts with a large number of Sunni and Shiite deputies to abort the draft output of foreign troops from the country 's law, among some deputies complied with the US financial offers And won the money in return for not voting on the draft of the removal of his troops from Iraq. A senior source in the Committee, who preferred not to be named, said in a statement to the "Information" / that "the US Embassy in Baghdad conducted a lot of contacts with political figures and deputies of the Sunni and Shiite components to hold a meeting between them and the US ambassador to Matthew Toler," pointing out that "some MPs Went quickly to the US embassy and got the money in return for refusing to vote on the draft of the removal of foreign troops from the country. " He added that "the American side is actively seeking to thwart the passage of the law to remove foreign troops from the country, because the real law, which causes them terror in the failure of their schemes in the region," noting that "the presentation of funds by the US Embassy was between the ambassador and those figures and amounts vary, "He said. The MP demanded the alliance of the conquest of the charter Hamidi, on Monday, the formation of a fact-finding committee within the House to show the fact that a number of MPs received bribes and money from the US embassy in Baghdad not to vote on the draft law to remove foreign troops from the country. A parliamentary source revealed to the "Information", Monday (4/2/2019), the US Embassy in the capital Baghdad to buy the receivables of a number of deputiesAnd political blocs within the House of Representatives not to vote on the draft resolution to remove foreign forces from the country, led by US combat troops. The Lebanese newspaper "Al Akhbar" revealed on Saturday that US officials had submitted "kickbacks" to Iraqi lawmakers urging them to reject a law requiring the removal of US troops from Iraq. According to the newspaper, who knew of the deputies who accepted "material gifts" of: Kazem al-Otaibi and Ziad Ahmed of the coalition, "national" headed by Iyad Allawi, and Nahdah Zeid of the "list of the Iraqi decision" led by Osama Najafi. End 25 T
  18. blueskyline

    Harmonization of customs tariff

    Thank You Yota . GA DV's .... I don't study numerology but to me there sure is a coincidence involving the number 17 . Whether it is the date of further tariff actions or the 17% do to Kurdistan. 17 shows up a lot.
  19. Thank You Yota . GM DV'S ...
  20. February 19, 1397 - 06:10 Stamp reports; Iraq, New Iranian Central Bank / New currency map is on its way? The possibility of opening a dinar account of Iranian banks in Iraq and opening branches of one of the largest Iraqi banks in Iran will mark a new chapter in the interactions between the two countries. In the past days, Abdel Nasser Hemmati completed one of his most important business trips during the Central Bank's time, according to the Mehr News Agency. A journey where important meetings at this historic point of the Iranian economy took place, and of course, the agreements that took place on the fringe, may have provided one of the most unique opportunities to the Iranian banking system, which, if properly implemented and timely implemented, It can be an important and effective step in the field of the Iranian foreign exchange system . Accelerating the Iraqi debt repayment system to Iran, the activity of Iranian exporters through Iraqi banks, and the possibility of opening an Iranian bank account with the dinar and the euro, including agreements made with the Iraqi authorities at separate meetings of the head of the Central Bank of the Islamic Republic of Iran. Many banking experts say the deal, along with the importance of time for Iran, will be positive in terms of currency remittances . Of course, the success of the implementation of these agreements necessarily involves the political will of the two sides to timely and in accordance with the agreements reached, in particular, that Iraq has for months been the first Iranian trading partner and has the largest exports Non-oil Iran. In addition, at least in the last few months, Iraq has been able to influence the foreign exchange market with its foreign exchange markets Herat and Sulaimaniyah. Iraq, the new role of the Iranian currency system Majid Shakeri, an economic analyst in an interview with Mehr News Agency , referring to the visit of Iraqi Central Bank Director Abdul Nasser Hemmati to Iraq, said that the trip was both the most important and positive in terms of the content of the Hawala Of foreign currencies this year. In addition, Iraq is a very important country in Iran's foreign exchange map and is considered to be the most important export destination of Iran in recent months. He added that the Sulaimaniyah market is a bazaar related to Istanbul, Herat and Dubai, and thus has a serious impact on the cash market of Tehran, while considering the demographic situation in Iraq, the access of currency to the Central European and South American countries It is found in this country . Shakeri believes that among the countries that have successfully succeeded in converting their currency into dollars, Iraq has the best conditions for security cooperation with Iran and has the most consistent security interests with Iran, which is why Iraq has a very important point for Iran. Including the results of the visit of the Chief of the Central Bank to Iraq, subject to the implementation of the agreement, is an appropriate access to the facilities; in addition to all the cases, such as opening an account of Iraqi companies in Iran, opening an account for Iranian banks in this country. And the opening of dinar accounts is also very important . Shakeri said that if the dinar was a currency such as the Indian Rupee and the Russian ruble, this trip could not be very effective, but the dinar is very strong due to Iraqi foreign exchange earnings, and because of the interplay between these incomes and the interests of American companies, in the long run, the problem No special occasions . Why is foreign exchange agreements important with Iraq? He stated that the status of Iraq is very important, saying that the news out of the agreements shows that all actions have been in line with the purpose and the real work; the time of the agreement is also important, because in the second half of the avalanche and March because the market is more or less dormant, it is a good condition for implementation of these policies. Moreover, if these agreements are well implemented, it will be possible before the payment system goes under the new year in May next year. , Use this system appropriately. Shakeri said that Iraq has other positive points for us, and that those populations in the south and north of the country, said that their respective textures are on the Iranian border, allowing the offices to be completely disconnected, similar to those between Tehran And Dubai exists for the Iranian and Iraqi side; while the border between Iran and Iraq is in a way that corresponds to the availability of money transfer with banknote access and reduces the sanction of the settlement unit . The expert in economic affairs, arguing that the gender segregation of US interests with a part of Iraqi society is such that Americans can not isolate a bank in Iraq for cooperation with Iran, stated: "It seems that the head of the central bank and The country's foreign currency team has been pre-contemplated in terms of prioritization of the previous program, but along with all of these, what makes the security attachment necessary to get a good financial result in order to make Iran a good financial result, Iran's security implications West Asia and helping Iraq during ISIL's invasion . Iraq agreement; more effective replacement of INSTEX He stated: "The sum of these conditions says that, in contrast to the concept that the Europeans put forward, and in line with that, Iran must deal with the security gains in West Asia and receive direct access to the euro against it, a new concept can be born." Which lies on the resistance axis, which has had security and military layers to this day . Shakeri said that this concept is technically more powerful, more credible, and more in line with Iran's security conditions, so that the access that Iraq opens to us does not solve all the problems, but it does not solve a significant part of the problems with approximation. Well, it can be solved on condition that it is executed . How effective is Iran-Iraq exchange agreement? Sayed Kumal Seyyed Ali, a former deputy foreign currency deputy of the Central Bank, said in a conversation with Mehr correspondent about the change in Iran's foreign exchange map and recent agreements with Iraq, saying: "Certainly, because these agreements have been signed by the head of the Central Bank, the current situation The country's currency is included in terms of sanctions. Accordingly, what is happening is that when the two sides work with local money, they set off their sanctions, but they must also consider the dinar's use of the country; in other words, if a Iraqi exports goods to Iran, and we want to give it the money from the purchase of goods, we can pay the dinar at the disposal of the receivables, or if we export and they want local currency to us Give it, it's possible. Seyed Ali said that Iraqi exports to Iran and Iran should be compared to Iraq so that the two sides can settle this money, but the important thing in these agreements is that if the dinar we obtain at the right rate becomes International currencies will be of benefit to bothers and can be important for exporters because they reduce costs. He said: if Iranian banks and individuals have a euro account in order to receive the dinars they receive for selling their goods, they will be able to convert to the bank, which they account for, into dollars, dollars and euros, the benefits will be much higher; The agreement concluded by the head of the central bank also states that Iranian exporters can use this mechanism. Seyed Ali noted that the actions taken by the Central Bank in Iraq, if executed and the possibility of converting the dinar into global currencies, is a good and big job and should provide a land that would convert the dinars resulting from exports to the country. Other currencies and, through that, provided part of the country's currency needs. He said: "Monetary treaties will be activated when both parties can use common currencies to maximize their profits.عراق-نقش-آفرین-جدیدنظام-ارزی-ایران-آیا-نقشه-ارزی-جدید-در-راه......
  21. blueskyline

    Barzani meets with Mahdi re: HCL (?)

    Thank You Buti , Yota . GE DV's .....................This speaks Loudly .........."Adel Abdul Mahdi and Najran Barzani emphasize the need to work in a spirit of cooperation"......" "Nechervan Barzani: Abdul-Mahdi is making vigorous efforts to improve relations between Erbil and Baghdad"
  22. Thank You Yota . GE DV's ......Hopefully Mahdi and others can see this through .

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