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THE WORLD BANK IS EXPECTED TO IMPROVE THE ECONOMIC SITUATION OF IRAQ OVER THE NEXT FEW STAGE


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THE WORLD BANK IS EXPECTED TO IMPROVE THE ECONOMIC SITUATION OF IRAQ OVER THE NEXT FEW STAGE
 
Sunday February 012 015
 
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BAGHDAD / All News

The Central Bank of Iraq, on Sunday, agreeing to cover bank accounts outside the country in dollars to cover imports, pointing to the formation of a committee to reconsider the restructuring benefits.

The bank said in a statement he was "in line with our responsibilities in supporting the development and stimulate the Iraqi economy has been taking a number of decisions, including, approval to do to cover bank accounts abroad to the US dollar to cover imports of customers and for other purposes without the need for passage of a window sell the currency at the central bank." he said, adding that he "will take control over those processes within the mechanism simple and transparent."
 
He added that the bank "has approved the appointment of a representative of the private banks in the Central Bank, in addition to speed up legislation Deposit Insurance Act."
 
The statement pointed out that "the recommendation to the government to accept the state's institutions of instruments issued by private banks, and also the receipt of taxes and fees in favor of the government," explaining that "it was forming a committee to reconsider the structure of benefits, including expanding the credit and liquidity provision."
 
On the other hand, predicted the World Bank, on Sunday, the economic situation in Iraq has improved over the next few stage, as revealed for the creation of several projects in partnership with the Iraqi government will promote the country in the field of development Alastosmar.oukal Bank Country Director in Iraq, Robert Bo quality, in an interview to the newspaper Official morning, that the bank is now working with the government within the strategy that have been created in partnership with them to help in a number of projects in order to provide better services to the people in the field of electricity, water, roads and advisory services. "
 
He continued that "the project is with the relevant ministries," he said. "These projects will help create new jobs as well as help the government in the field of investment development."
 
He predicted that Abu quality is "improving the economic situation over the next few stage, although this improvement link up world oil prices."
 
It is noteworthy that the prime minister Haider al-Abadi stressed, in the November 10, 2014, to be hoped the role of the World Bank in achieving what aspire to him the government in its shift towards the private sector and encourage investment movement, noting the Executive Director of the Bank Mirza Hassan to the readiness of the World Bank to support the march Development in Alarac.ivkr that world oil prices have seen a significant decrease is the first of its kind in five years, causing damage to many countries, including Iraq.

 

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maybe  this  is  what  will be reveled  this  coming week through abidi ,  this would be  some kind of economic change  for sure ,  but  if they have international  standings  and  credit cards accepted at all a-t-m-s ,  this  is  a good  thing also , but  with  the currency values still  in the .1160 range  ,   will not  take  long  for these credit cards to be empty ,  from   just transactions, of  everyday  purchases  to live on .......     NOW   the other article ,  world bank is saying  something  that  will also  tells us  something is  about too happen in the Iraq  economics ,   surely  just  having  credit cards status , international  , can`t be  the only thing ,  {  banking   laws  established , like  depositors  insurance  for  one ,  }    I myself  still holding onto the edge of  my chair  for next weeks  news   ---------- >  an increase in values  maybe ?     the  .o9 cent mark  recently  posted in  rumors ?  :peace: 

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Next few stage = In the coming years

I don't know 10 Years but I'm so ready for something to happen NOW !!!!!!! Geees these SOB's just piss me off I'm afraid that my tolerance level is approaching critical mass. I use to like camels and now I don't ! Go Fricken RV !!! or may the flees of a thousand camels infest their armpits !

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If they were going international with their Dinar why use the dollar to cover international trade ? Just sayin I would rather hear them say they would use the Dinar to cover

I tried but cannot disagree

When they use dinar abroad then they went international

Maybe they are using dinar or will be and the world bank will pick it up and do the exchange

That would mean the world bank will be holding dinar

If that happens that will definatly be an improvement

Edited by dontlop
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+1 , yet I would go camaro when it finally drops the new lt1 in their.

I had a 2014 45th anniversary cameron and traded it in on a genesis r-spec.   wish i coulda kept both, but i decided i was getting too old to sit 2 inches off the ground and try to hold my coffee while i was shifting................man i'm getting old!

 

or maybe just too fat!

Edited by staunch
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Instead of the cbi buying dinar from the banks at auction they can just buy them from the world bank for a fee I'm sure

So that would drive the value of the dinar up costing more dollars to buy them back from the world bank

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The Central Bank of Iraq (CBI) has taken a number of decisions with the intention of supporting and developing the Iraqi economy; the following list is taken directly from an announcement by Rabee Securities:

  1. Approving appointment of a representative of the private banks in the Board of directors of the CBI;
  2. Approving to cover the banks’ accounts abroad with the US dollar to meet clients’ imports and other necessities without the need to participate the currency auctions in the CBI. The CBI will control those operations through a simplified and transparent mechanism. The CBI will develop a plan to improve the capacities and capabilities to activate the letters of credit instead of the current method and coordination with banks;
  3. Expediting the legislation of the Deposit Insurance Act;
  4. Recommending the government and the state’s institutions to accept checks issued by private banks as well as the receipt of taxes and fees for the government;
  5. Forming a committee to restructure the interest ratio to expand the provision of credit and liquidity.

LINK

Edited by paperboy
merged with existing topic started by Markinsa
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Instead of the cbi buying dinar from the banks at auction they can just buy them from the world bank for a fee I'm sure

So that would drive the value of the dinar up costing more dollars to buy them back from the world bank

Not sure what to take from this article either...

But I do see it as a step...

I also see the much needed security because gas prices are on the rise...

I see Isis fleeing...more cleaning...

I see the CBI controlling the auctions...

I see the govt taxing...

I see the asked for "international help" on the way...

I see them controlling amount of dinar in/out bound...

All good to me keep those feet moving the attitude positive head up eyes open love life through all experiences and continue to wait on this gravy train... =)

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