Tamimi: we put a ceiling on sales of central bank reserves fell to $ 67 billion

[yota691]

Tamimi: we put a ceiling on sales of central bank reserves fell to $ 67 billion

Editor Mohammed Shafiq - Wednesday January 28, 2015 21:54

 

 

 

 

 

Alsumaria News / Baghdad

Revealed the Parliamentary Finance Committee member Magda Tamimi, Wednesday, lower central bank reserves of 77 billion to $ 67 billion because of the "smuggling", while suggesting to put a ceiling on bank sales of $ 75 million a day.

 

Tamimi said during her program "modern home" which aired "Alsumaria TV", "The banking business in Iraq has become a big risk in terms of its capital that is much larger than deposits, in addition to not exploit his money well. "

 

 

 

She added, "There is a big sales day in the currency auction up to 200 to 250 million dollars," pointing out that "the Finance Committee has taken inter measures to lower sales to $ 75 million a day. "

 

Tamimi They pointed out that "the central bank reserves were $ 77 billion in January 2014, but now has dropped to $ 67 billion due to smuggling."

 

The Central Bank of Iraq confirmed in (January 18, 2015), that the bank reserves is one of the best reserves in the world, at a time pointed out that covers the currency and a half times, between the financial crisis that has plagued Iraq is resolved structuring the economy and diversify sources.

 

[mr.unlikely]

That makes no sense whatsoever.

The CBI reserves are from the spread charged at auction for the buying and selling of currency. That spread puts money in the CBI reserves. If dollars are being smuggled, it's not from the reserves. Magda needs to stick to home econimics and leave business economics alone.

[yota691]

Parliamentary Finance determines the central bank sales of the roof of the dollar at auction

By Adminsa 01/29/2015 11:42 | Views: 1

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Brother - Baghdad

Revealed the Parliamentary Finance Committee member Magda Tamimi lower central bank reserves of 77 billion to $ 67 billion because of the "smuggling", while suggesting to put a ceiling on bank sales of $ 75 million a day.

 

Tamimi said in a statement seen by the Agency for News Agency (et) "The banking business in Iraq is in great danger as its capital is much larger than deposits, in addition to not exploit his money well."

 

 

She added, "There is a big sales day in the currency auction up to 200 to 250 million dollars," pointing out that "the Finance Committee has taken other measures to lower sales to $ 75 million a day."

 

 

Tamimi They pointed out that "the central bank reserves were $ 77 billion in January 2014, but now has dropped to $ 67 billion due to smuggling."

[SocalDinar]

Maybe she's quoting the central's website that has shown 67 billion for at least 4 years.

Lower oil prices bringing in less dollars these days. I'm sure alot of US dollars are making there way to Iran .

Thanks for the read Yota

Looks like you are almost at 35,000 posts

Ran some numbers

If you spend 5 mins digging up each post for us that equals about 1/3 of a year straight with no breaks or sleep you have spent on this

121 days or about 3000 hours . Not including OT that would be worth $27,000 dollars at minimum wage in CA.

I think you should be compensated at a minimum of $1 a post, $35K seems fair to me.

[wbuse984]

Ahhhhh...the smoke an mirrors perhaps are starting....hopefully...we'll see :bump:yota for the post

Edited January 29, 2015 by wbuse984

[yota691]

SocalDinar...35,000 is close to the rate once you remove the zero's....  

[SocalDinar]

LOL,  Wouldn't that be something.

Thanks for everything Yota and the same goes to all the Newshounds

[yota691]

Urgent .. Parliament vote on the central bank to prevent the sale of more than $ 75 million a day in the auction

History of edits:: 1/29/2015 9:02 p.m. • 0 times readable

{Baghdad: Euphrates News} House of Representatives voted to prevent the central bank from the sale of more than $ 75 million a day in the auction .itba h

Read more: http://dinarvets.com/forums/index.php?/topic/195705-aajlbde-parliament-session-to-vote-on-the-budget/page-5#ixzz3QEdqppLD

..altsoat Urgently to prevent the central bank selling more than 75 million dollars a day in the auction
Thursday, December 29 2 / January 2015 21:00

 

 

[baghdad where]

House of Representatives voted to prevent the central bank from the sale of more than $ 75 million a day in the auction .itba

[Markinsa]

»Magda Tamimi: the real budget deficit up to 50 trillion dinars

Magda Tamimi: the real budget deficit up to 50 trillion dinars
Wrote: January 31, 2015


A member of the parliamentary finance committee Majida al-Tamimi said that the real deficit in the budget for the current financial year up to fifty trillion dinars.

 

She explained Al-Tamimi said the planned budget deficit is five and twenty trillion but up to double that figure, noting that the government has alternatives to fill this deficit as a national savings of state employees and the right of government borrowing from the Trade Bank of Iraq and external borrowing from the Bank and the International Monetary Fund showed Tamimi budget passed the first two-pronged political and financial another.

[yota691]

add to this...feel this is part of the big picture...Reading the Law of the budget in 2015

 

 

         

1/2/2015 0:00 

Mohammed Sharif Abu Mayssam 
in previous unheard Iraqi scene, approved the general budget for the current year law in record time of the negotiations between the political forces that used to wrestle with the contents of its clauses until April of each year. 
budget approved in the amount of the expenses of the total slightly exceeds about 119 trillion Iraqi dinars on the basis of the price of a barrel of oil and the source of $ 56 and the rate of export of 3.3 million barrels per day and a deficit estimated at 25.4 trillion dinars .. were distributed expenditure on 41.9 trillion dinars for the investment budget and 77.5 trillion dinars operational claw. 
It seems that the power window which promised to approve the budget (a great accomplishment!) was determined to reach the intermediate solutions to some of the points of contention in order to expedite the approval on the aftermath of infanticide budget year 2014, which was a project to disrupt the political, economic and Foreclosure, making some budget items this year as a result of a compromise much is of Allamhenneh features. 
In the introduction to the rash on the features of this law is the obvious concern of distrust between the center and the Kurdistan region on the importance of the latter's commitment to the oil quantities exported over the claims on non-federal government's commitment to the appropriations Exchange, and guarantees the behavior of each party on the other end, where Article 11 Third on the following: "If you do not fulfill any party (the federal government, the Kurdistan Regional Government) oil or financial obligations agreed to in this budget, the other party is also bound to fulfilling its obligations or oil was financial." This text reflects the state of my arms, which still is the common factor in the deal Governments center and the region .. It is, in fact, a booby-trapped text has the potential text and referrals enable any party of the bombing and aggravate the situation in any political variable, which is likely the outbreak of the crisis at any point political controversy was not related to the content of the text, as well as the absence of any reference in the budget related to compel the provincial government on the export of oil through (SOMO) is likely the possible return of the dispute to zero in case of any delay in the export, especially that there is political forces demanded the inclusion of the budget refers to this matter and to pay the amounts owed ​​by the province, amounting to $ 36 billion and turn off all previous advances, but it came free of them, with included the right of the province to get the amounts of petrodollars and allocations another for the reconstruction of the city of Halabja. 
On the other hand included the budget of many texts is obvious, such as Article 18, first with an incomplete text that: (a loan from the Agricultural Bank and Real Estate Bank and the Industrial Bank and the Housing Fund interest rate of 2 percent) without reference to what will bear the Ministry of Finance on the difference in interest amounting to 6 percent rate and included in previous budgets, because the 2 percent can not to cover the administrative costs of the work of these banks, so how can it achieve a margin low profits to fund their work as public companies funded self .. As stated in Article 18 Thirdly the following: (The Ministry of Finance interest amounting amounting to 4 percent of the total loans granted to the project Basmajh ratio) in a time when citizens bear is also known, 3 percent, and this is what has not been clear to observers since the previous budgets, laws, as the interest rate is 6 percent only, not 7 percent .. Here wonder many observers about the fate of the difference of 1 percent. 
In the context itself included the budget a lot of tax collection obligations on citizens without pledges to transfer amounts for services, primarily the contents of Article 29 for authorizing the Minister of Finance to issue stamp the name of supporting the displaced determine exaggeration in accordance with instructions issued by the Accounting Chamber, in order to impose on all citizens when their review of government departments over the shoulders citizens in general, without distinction between low-income physically and mighty, and that, along with the contents of Article 33 for the taxation of mobile networks and the Internet phone by 20 percent and 15 percent on the purchase of cars of all types of tickets, and left it vague in front of the Ministry of Finance without issuing instructions The controls are based. 
It's true for Article 37, which states the contribution of state employees in support of the security forces to secure the war against terrorism, the requirements are that the adoption of national savings to employees system, without exposing deduction ratios details of the mechanism that will follow. 
 The biggest observer is what contents of Article 50, which obliges the Central Bank to sell no more than $ 75 million in its daily auction, which will help in the parallel market growth to finance the demand generated by the market need, which is estimated at a daily rate of between 150 to 200 million dollars a day to finance the foreign trade and domestic demand due to the needs of citizens to fund social their activities inside and outside the country, which will push the high price of the dollar against the Iraqi dinar in the parallel market, and twisting from time to time and the other, and thus the inevitable loss of state monetary stability that the central bank was keen to sustainability through monetary tools through years of During the central bank auction and benefit nocturnal investment, which will make the central bank money spent on monetary policy mechanisms as wasted money over the condition return monetary instability of the local markets .. It is immoral in any investment environment, what will make our environment that are meant to be attractive for investment under a state of instability security, repulsive environment for investment excellence.

Read more: http://dinarvets.com/forums/index.php?/topic/195984-reading-the-law-of-the-budget-in-2015/#ixzz3QSBbQ1A5