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Found 12 results

  1. Here's an article of Dinarian interests... IMF Praises Iraq's Progress. Treat as a rumor. Not verified. Your opine. FROM OTHER SOURCES: An Analytical View Of The IMF Regarding The Government & CBI’s Actions To Recover The Iraqi Economy. ARTICLE: Samir Al-Nusairi In light of the assessment by the experts of the IMF mission of the measures taken by the government & the CBI, which contributed to preserving the transition of the Iraqi economy from a state of fragility to a gradual recovery during the 2nd half of 2023, as it became clear that “growth in the non-oil sector rose strongly in the year 2023 by 6%.” % of the gross domestic product, with inflation declining to 4% after it was 7.5% at the beginning of the year. This comes due to the CBI’s measures to control the general level of prices & reduce inflation, which is the most prominent monetary policy task that has been achieved, which is the lowest inflation rates achieved for the year 2023 in regional and Arab countries. It was achieved due to the efforts made in organizing the financing of foreign trade & cooperation with the government in securing basic foodstuffs & providing... Ration card materials at subsidized prices. The occurrence of these developments is due to the stability of the foreign exchange market & the safety & transparency of 95% of foreign transfers to traders & importers via the electronic platform & at the official rate, in addition to opening direct dealings with up to 30 foreign & Arab correspondent banks & opening dealings in the local currencies of countries with which Iraq has important trade exchanges, such as China, Turkey, the Emirates & India. After some interruptions following the implementation of new anti-money laundering & counter-terrorism financing controls on cross-border payments in November 2022, improved compliance with the new system & CBI initiatives to reduce transaction processing times led to a recovery in trade finance in the 2nd half of 2023. The IMF welcomed "the initial steps taken towards establishing the Treasury Single Account (TSA), which is a critical tool for improving cash liquidity management." It is necessary to point out here the “efforts made by the Central Bank aimed at getting rid of surplus liquidity. The CBI increased the interest rate on monetary policy tools & raised mandatory reserve requirements. It also began issuing treasury bills with a maturity of 14 days last summer.” Therefore, the Fund called for supporting the existing efforts of the CBI by consolidating unused government deposits in the unified treasury account, refraining from pro-cyclical financial policy, reducing dependence on monetary financing & improving public debt management & from an insightful view of the IMF, it confirms However, the steps taken by the government & the Central Bank to accelerate the digital transformation of the economy, reduce dependence on cash & enhance financial inclusion, which supports the plans to launch a financial inclusion strategy. Official statistics indicate that 558 government agencies deployed electronic payment tools in 2023, compared to 12 government agencies in 2022. The number of employee salary localization cards reached 8,653,000 cards, the number of issued cards was 17,822,310 cards, & the value of the use of electronic payment tools in 2023 amounted to approximately 12 million Dollars through 32,842 transactions.
  2. Here's two articles of Dinarian interests... Iraq fails to meet IMF requirements. USD-IQD ER worsens. Corruption in Iraq worsens. Iraq blames US for the Dollar crisis. Treat as rumors. Not verified. Your opine. FROM OTHER SOURSES: To Achieve Economic Stability, The IMF Directs 4 Requests To The Iraqi Government. ARTICLE: The International Monetary Fund called on the Iraqi government to 1-adjust public finances, 2-increase the public sector wage bill, 3-expand the tax base & 4-increase non-oil revenues to achieve economic stability. This came in a statement issued by the Fund, on Sunday, at the conclusion of Article Four consultations with Iraqi financial & economic officials, which took place in the Jordanian capital, Amman, during the period between 20-29 last February. The fund said: “To overcome oil price fluctuations, Iraq must achieve high economic growth to accommodate the growing workforce, enhance non-oil exports, expand the tax base & adjust the wage bill.” He considered that the government must "strive to enable the private sector to develop & grow, carry out labor market reforms, modernize the financial sector, restructure state-owned banks, reform the retirement and electricity sectors & reduce CORRUPTION." Iraq is the 2nd largest producer of crude oil in OPEC after Saudi Arabia, with an average daily production of 4.6 million barrels per day under normal conditions & relies on crude export revenues to provide 90 percent of the state’s financial income. The Fund added: “Growth in the non-oil sector returned strongly during 2023... Growth in real non-oil GDP is estimated at 6 percent, & overall inflation declined from the high level of 7.5 percent in January 2023, to 4 percent by the end of the same year.” ". He continued: "The decline in inflation is due to the decline in food and energy prices at the international level & the impact caused by the revaluation of the price of the Iraqi currency in February 2023." He estimated that the improvement in oil prices in 2022 and the first months of 2023 contributed to the rise in international reserves to 112 billion Dollars, from an average of 88 billion at the end of 2021. He said: “If regional tensions escalate, an interruption in shipping routes or damage to "This may lead to losses in Iraqi oil production." Article Four of the Agreement Establishing the International Monetary Fund stipulates that bilateral discussions with member countries usually take place on an annual basis. A team of Fund experts visits the member country, collects the necessary economic & financial information & holds discussions with official officials about economic developments & policies in that country. FROM OTHER SOURCES: With A Dollar Bill... Deputy: The US Treasury Is Putting Pressure On Iraq. ARTICLE: The representative of the Fatah Alliance, Ola Al-Nashi, accused the US Treasury Department of obstructing the Iraqi government’s reforms in light of waving the economic card through the Dollar file. Al-Nashi told Al-Maalouma, “The economics file is more important than politics & what is happening in it & it is the aspect that is focused on to thwart any government if it achieves successes & is able to get closer to the people.” He added, "The government is required to take strong decisions against them in order to control the Dollar crisis, noting that the American administration changed its sights towards the economic card after its failure in the soft war against Iraq." Al-Nashi pointed out that “the rise in the Dollar exchange rates in local markets is a political file to put pressure on Muhammad Shiaa Al-Sudani.” The Dollar ER are witnessing a significant increase in the Iraqi markets, as the price of one Dollar has reached more than 152 Dinars, amid fears that this rise will continue.
  3. Here's an article of Dinarian interests.... Iraq has been reaching out to IMF & BRICS for support. Treat as a rumor. Not verified. Your opine. Tlm724 Administrator Bondlady’s Corner: Iraq Is Holding Discussions With The IMF Within The Framework Of Article IV Consultations In Amman. ARTICLE: The Iraqi delegation, headed by Finance Minister Taif Sami Muhammad, held discussions with International Monetary Fund experts within the framework of Article IV consultations, held in the Jordanian capital, Amman. The discussions focused, according to a statement by the Ministry of Finance, on the reform program for the Iraqi economy & the steps adopted by the Iraqi government towards strengthening financial and banking policy, digital infrastructure, financial inclusion & public debt issues, in addition to the measures taken to mitigate the repercussions of international conflicts & their effects on the economy. During the consultations, the delegation is also holding discussions related to a road map towards increasing non-oil revenues & enhancing coordination between financial & monetary policies in Iraq, in addition to defining joint work programs that include the IMF providing the necessary technical & advisory support for the economic reform adopted by the Iraqi government in achieving financial & monetary stability & improving the level of financial planning for budgets & the continuity of implementation of important development projects.
  4. Here's some articles of Dinarian interests... Treat as rumors. Not verified. Your opine. Walikingstick: IMF: Very Undervalued. ARTICLE: Remember Iraq is still under the umbrella of the IMF. They may not be under sanctions but they are under the umbrella/protection of the IMF. These were the meetings that were taking place in NY, then Dubai & then in Baghdad. Remember the two things the IMF said – The Iraqi Dinar is adding value & they are very undervalued with their ER. Militia Man: Our Expectations. ARTICLE: Iraq is not going to be at a punished rate. They’re going to have a real effective exchange rate (REER) coming in the future. That’s what our expectations are & that’s what the citizens of Iraq’s expectations are. Bruce The Goose via WiserNow: WOW. ARTICLE: …we had screen rates at the banks. We didn’t get the rates at the redemption centers…but we did get the rates at the bank & of all of those currencies that are going up in value – Most of them are in A Very Nice Range…Four & seven is where they’re going to settle in. Now the Dinar is much higher & even on, even on the bank screens, it’s much higher & the Dong may be maybe higher.
  5. Monopolistic Power Is Growing Around the World, IMF Says But a new study from the International Monetary Fund cautions against rushing to judgment A new report from the IMF says rising market power may not necessarily reflect weakening antitrust policy. PHOTO: YURI GRIPAS/REUTERS By Greg Ip Apr 4, 2019 7:50 am ET 0 COMMENTS Declining competition throughout the economy isn’t just an American phenomenon. It’s true throughout much of the rich world, the International Monetary Fund has found. Still, the IMF, in a study accompanying its latest World Economic Outlook released Wednesday, says rising market power may not necessarily reflect weakening antitrust policy and advises against drastic action designed to curb or break up big companies. A company has market power if it can charge more than a purely competitive market would permit. The authors of the study test for the presence of market power in 27 countries, two-thirds advanced and one third emerging, by measuring “markups”: how much companies charge for a product above the cost of producing one. In theory, excessive markups should quickly disappear as new competitors undercut incumbents. Yet the IMF found between 2000 and 2015, companies’ markups in advanced economies rose eight percentage points. In other words, for every dollar of cost per unit, they were able to charge an additional eight cents. Markups didn’t rise in emerging countries, perhaps because they were relatively high to start with. This alone, they note, doesn’t prove declining competition hurt consumers. It’s possible that more productive firms with higher markups took market share from less efficient, less profitable firms. This explains much of the rise of in the U.S. Moreover, businesses with high fixed and low variable costs naturally have higher markups. A social-media company, for example, invests heavily in its website, content and software, while incurring almost no cost each time a member is added or a web page viewed. Such industries tend toward “winner-take-all” or “winner-take-most” outcomes. Yet even when markups and corporate concentration rise for benign reasons, it can extract a cost. Firms with few competitors don’t have to innovate as much. They have less incentive to invest since added production could flood the market, driving prices and profits down. The IMF concludes the rise in corporate markups since 2000 has hurt business investment, leaving gross domestic product 1% smaller than otherwise. It has contributed to at least a tenth of the narrowing in workers’ share of GDP. These trends, by reducing the need for capital and the economy’s underlying growth rate, have also depressed the so-called neutral interest rate, which keeps growth steady without spurring inflation, though only slightly. These effects are pretty small so far, but the IMF warns that if markups keep rising, so will the harm. So what should governments do? Around the world they face growing calls for antitrust authorities to block more mergers and acquisitions, even of small companies that may one day be a competitor to the big tech company acquirer. The IMF, however, is reluctant to join those calls. It notes that a merger may both reduce competition and yield more efficient and innovative companies. Whether the net result is good or bad “warrants investigation.” Rather, it recommends other steps to invigorate competition: ensuring intellectual property rights don’t slow the adoption of innovation, and taxing only those profits that come from market power (for example, from a patent-protected monopoly). https://blogs.wsj.com/economics/2019/04/04/monopolistic-power-is-growing-around-the-world/?guid=BL-REB-39368&dsk=y
  6. Luigi says... Good news...if this rumor is found to be true. We can now move on to the next RV hurdle. Not varified. Your opine. 8-30-2018 Newshound Guru chattels The CBI announces everyday the Market rate on its site, its called the ”Dollars Exchange Rate in Baghdad Markets “ and it shows perfect compliance since June. ...the CBI according to this report met 2% compliance on March 14 2018 and and has been able to maintain it to date. So good news. Many of us we unaware of the posting at the CBI and have been watching news reports. [Side Note: The latest CBI reported market rate can always be found on the left side of this page...the last CBI update shows the market rate of 1206 as of 8-30-2018...this is within the 2% rule.]
  7. This article says a lot. No clue how reliable the source is. Note item #4. Treat as a rumor. Not varified. Your opine. 4/3/18 Rudaw The modernizing & reformation of the Iraqi banking system was a requirement of the IMF: 1. Iraqi citizens finished a financial education week on Mon. May 1. 2. Everything that needed to be done for the RI (reinstatement of the Dinar as Iraq’s main currency over the US dollar) was done in the 1st quarter of 2018. 3. Contracts would now be done only in the local (Iraqi Dinar) currency. 4. The CBI announced that now Iraq had control of their exchange rate.
  8. Luigi asks... This may be nothing or something huge. Could the RV be around the corner? Your OPINE. Not VARIFIED. 11-27-2016 Intel Guru Frank26... In the last few hours so much has occurred ...the dynamics of what we STUDY is of great velocity. Let's say that the movement ... The progress of the process ... Is adjusting ... Conforming ... To their Targets. ...at this moment...there has been a Change to the Dec 7th IMF Meeting ... To the 5th. This is GIGANTIC ... 11-27-2016 Intel Guru Frank26 In the last few hours so much has occurred ...the dynamics of what we STUDY is of great velocity. Let's say that the movement ... The progress of the process ... Is adjusting ... Conforming ... To their Targets. ...at this moment...there has been a Change to the Dec 7th IMF Meeting ... To the 5th. This is GIGANTIC ...
  9. 9-15-2016 Intel Guru Delta I have some information about the IMF meeting with Iraq...it looks like we might have a window for the date of the currency reform or basically the revaluation of the dinar...I just read it in Arabic...there seems to be a window that the IMF has given Iraq...they told them you have to finish the Monetary Reform of your currency...the internet is not seeing this in Arabic...it says in Arabic they told them to finish the Monetary Reform...and the Economic Reforms before November... 9-15-2016 Intel Guru Frank26 The information that is on the CBI website in Arabic makes it very clear...[Guru] DELTA translated it for us...and it said very clearly...at this meeting the IMF told Iraq...look you’ve done these things...but you have not done two things...if you want your loans...and that is what...articles are backing it up again...if you want your loans so you can complete your Economic Reforms...do the Monetary Reform...if not...IMO we will come in and we will do everything.
  10. Poppy3 believes nothing will happen until the 2nd half of 2017 according to a IMF report. Not varified. Your opine. Poppy3 18 Nov 2015... REPORT SAYS RV WILL HAPPEN BEFORE JULY 16TH 2016 ACCORDING TO IMF --- NOTHING CONFIRMED AS TO THE VALIDITY OR ORIGINATION. I PERSONALLY DONT SEE ANYWAY THEY CAN WAIT THAT LONG AND MOST ALL CBI AND OFFICIALS PREDICTING BEFORE 2016. THINGS ARE AWESOME AND WE WILL BE HEAVENLY BLESSED IN NO TIME AT ALL.
  11. from another source... 6-7-15 KTFA: DELTA : URGENT FROM IRAQIA TV: IMF LOAN WILL BE ADDED AS A RESERVE OF THE CENTRAL BANK!!! Billuke » So DELTA, if the loan is going to the CBI, doesn't this mean that the GOI will not be able to use the loaned money as they need it? Is this forcing the GOI or the CBI to do something? DELTA: THE REASON THEY ARE TAKING THE LOAN IS FOR A CREDIT RATING ALSO GOI NEED ABOUT $7 BILLION A MONTH. $800M NO HELP FOR GOV, BUT FOR CBI ..YES. EXAMPLE: FOR CBI $800 MILLION WILL BACK 8,000,000,000 DINARS IN CIRCULATION IN CASE OF 1-1 RATE!!! Family Business: Thanks Delta ....... imo this speaks rv sooner than later..... hopefully REAL SOON… Luigi says...If this artcle is true...then CBI will have insurance from IMF to cover the RV of the currency on the streets. This is the positive proof we been looking for that the PTB are working with Iraq behind the scenes. Our time is soon at hand. Fasten your seat belts & wait untill the ride comes to a complete stop before exiting. Go RV.
  12. 03-25-2015-Guru Nana- I just received intel from someone inside the UN. The IMF is supposed to announce the RV this evening or tomorrow at the latest. I thought it was very timing inasmuch as we have learned earlier today that the IMF would be given the privilege... Let us pray this is so. This is a very important night for as many as possible to join in the meditation at 10 PM EDT. Manifest, manifest, manifest. Give your opinion on this latest rumor.
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