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yota691

The value of the currency on the expert table

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2 hours ago, Pitcher said:

Which is code for, SOON.....cracks me up 

 

SOON or IN THE COMING DAYS — anywhere from 3 Days to 6 years. In 2012 they said both when referring to “ an imminent RV “

 

and the rodeo continues, unabated.   :rodeo: Ride’m Cowboy 🤠 

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 money and business


Economy News _ Baghdad

The adviser to the Prime Minister for Economic Affairs, the appearance of Mohammed Saleh, on Monday, that Iraq will pay 10 billion dollars of debt in 2022, indicating that Iraq received a good credit rating.

Saleh said in a television interview with the channel "Alsumaria", followed by "economy News", "Iraq will pay debts owed to it, which will not be less than 10 billion dollars in 2022."

He added that "the government to hedge from now to pay these large debts through the establishment of a fund to compensate the debt by putting funds in it annually," stressing that "Iraq is able to pay these debts, especially after Iraq obtained a good credit rating, and experience proved That Iraq has not been late to pay the debts incurred previously. "


Views 35   Date Added 21/05/2018

 
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Monday 21 May
 
 
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Alsumaria News / Baghdad
revealed Prime Minister for Economic Affairs Advisor to the appearance of Mohammed Saleh, Monday that Iraq will pay $ 10 billion of its debt in 2022, noting that Iraq got a good credit rating. 

"Iraq will pay its debts, which will not be less than 10 billion dollars in 2022," Saleh said in the program "Sahour Iraqi" broadcast by Alsumaria channel. 

He added that "the government to hedge from now to pay these large debts through the establishment of a fund to compensate the debt by putting funds in it annually," stressing that "Iraq is able to pay these debts, especially after Iraq obtained a good credit rating, and experience proved That Iraq has not been late to pay the debts incurred previously. "

 

 


Iraq has received foreign debts from the International Monetary Fund and the World Bank , in addition to internal debt by offering private equity bonds to finance his public budget, which was heavily affected by the decline in international oil prices, which Iraq depends mainly on its public budget.

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Iraq to pay 10 billion dollars of debt by 2022

Iraq to pay 10 billion dollars of debt by 2022
Appearance of Mohammed Saleh - economic adviser to the Iraqi prime minister
 
 
 
 
 21 May 2018 02:58 PM

Iraq will repay $ 10 billion of its debt by 2022, an adviser to the Iraqi prime minister for economic affairs said.

Saleh said in statements to the Iraqi News Agency, Monday, that the government should hedge for now to pay these large debts through the establishment of the fund to compensate debt by putting funds in it annually.

Saleh stressed that Iraq is able to pay these debts, especially after obtaining a good credit rating, pointing out that the experience proved that Iraq did not delay the payment of debts incurred previously.

The governor of the Central Bank of Iraq, at the end of November last year, that the total domestic debt of his country amounted to more than 40 trillion dinars (33.3 billion dollars).

The economic adviser to the Iraqi Prime Minister , in mid-February this year, that Baghdad began earlier this year to pay the remnants of the war compensation of about $ 4.5 billion dollars.

 
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1 minute ago, yota691 said:

Saleh stressed that Iraq is able to pay these debts, especially after obtaining a good credit rating, pointing out that the experience proved that Iraq did not delay the payment of debts incurred previously.

 

I am not sure if this is an indication of the imminent release of a report by a major international credit rating agency for a foreign investment worthy credit rating due to the notation, "especially after obtaining a good credit rating"!!!

 

Maybe the coming days will tell???!!!

 

In The Mean Time......................................

 

Go Moola Nova (YEAH AND YEE HAW, BABY!!!)!!!

:rodeo:   :pirateship:

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'Saleh stressed that Iraq is able to pay these debts, especially after obtaining a good credit rating.'

 

... Has their credit rating improved recently?

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1 hour ago, bkeiller said:

'Saleh stressed that Iraq is able to pay these debts, especially after obtaining a good credit rating.'

 

... Has their credit rating improved recently?

I know my credit rating hasn't 

It's in the toilet drowning 

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Waiting for Adam's update. I'm sure he will bring all of this into focus for all of us.

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2 hours ago, bkeiller said:

'Saleh stressed that Iraq is able to pay these debts, especially after obtaining a good credit rating.'

 

... Has their credit rating improved recently?

Last I saw was like B-

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49 minutes ago, davis411 said:

I know my credit rating hasn't 

It's in the toilet drowning 

 

At least yours is in the Big Swirly . . . Mine has already been flushed out to Sea😭.   🤪

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50 minutes ago, 10 YEARS LATER said:

 

At least yours is in the Big Swirly . . . Mine has already been flushed out to Sea😭.   🤪

Mine is in rehab.  

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Proposal to establish a fund to repay external debt

   
 

 
 


22/5/2018 12:59 am 

BAGHDAD / Shukran al-Fatlawi 
revealed the adviser to the Prime Minister for Economic Affairs, the appearance of Mohammed Saleh, on Monday, that Iraq will pay 10 billion dollars of its debt in 2022, indicating that the country received a good credit rating, at a time when a specialist on the economic need to start taking effective measures By diversifying Iraq's financial imports and not limiting it to  
oil. 
Saleh said in an interview with the press: "Iraq will pay debts owed to it, which will not be less than 10 billion dollars in  
2022." Hedges to pay off the debt and added that "the government should hedge from now to pay for such a large debt through the creation of debt compensation fund by putting money in a year , " asserting that " 


For his part, said economic specialist Ahmed Al-Attar in his interview for "morning": "The current stage requires diversifying the financial revenues of the country, which would activate the productive sectors," noting that "the activation of production will raise the gross domestic product and enhance the opportunities of the private sector to cover the needs of the country Of imports, which would save huge amounts of the public budget that would have gone into imports, perhaps  
unnecessary. " Economic file management  pointed out that Attar "economic profile of the country require the administration to take important measures to get rid of the debt owed by Iraq and put it in the prescribed period so as to enhance its global position of Iraq and maintains reputed not to delay repayment of its foreign debt." Iraq's external debt


Iraq has received foreign debts from the International Monetary Fund and the World Bank, in addition to internal debt through the issuance of private equity bonds to finance his public budget, which was heavily affected by the decline in international oil prices, which Iraq depends mainly on its budget. 
Credit rating is the credit rating of commercial agencies that assess the suitability or eligibility of a person to obtain loans or the merit of a company or even a country to obtain loans, which is to study the possibilities of the company, person or state The extent of its credit on the loan and its financial ability to pay 
, and takes into account the records of the person, company or state and its behavior and behavior in the past in relation to the repayment of  its debts.
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56 minutes ago, 10 YEARS LATER said:

 

At least yours is in the Big Swirly . . . Mine has already been flushed out to Sea😭.   🤪

Mine is in rehab.  

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Iraq's position on maintaining growth and achieving prevention of financial and economic risks

   
 

 
9.jpg


07/7/2018 12:00 am 

Aqeel Jabr Ali al-Muhammadawi 
Economic policy, with its various branches, whether financial, monetary, commercial or other, is one of the means of the governments of countries towards achieving a set of economic and social goals with a certain effect. Of course, human and natural resources are involved, as well as balance in the external economic sector and financial and economic stability and thus the equitable distribution of individual incomes. When finance ministers and central bankers representing the G-20 members met in October, optimism prevailed over the recovery of the global economy and the opportunity for necessary reforms. When they met again in Buenos Aires the following week, they focused on the policies needed to protect this recovery from the risks of negative developments and promote growth in the next phase. 


The good news is that the momentum of growth is growing stronger across three quarters of the global economy. Moreover, the expected recovery indicators suggest that they will lead to prudential requirements and impose a slowdown at the end of 2018 and 2019, which means that the medium term outlook will pose challenges to many Especially developed economies. Therefore, developing countries, including Iraq, need to implement policies to prevent the risks of negative developments, strengthen solidity and economic strength, and support medium-term growth that benefits everyone. We have international financial and economic commitments with the Bank and May have international and some international financial institutions on the scheduling of payment of debt obligations.
We believe that this is the ideal time to take bold policy measures and make the most of the world's growth period; advanced economies in the current and next years are expected to have growth rates that exceed their medium-term growth potential, which is still below the required level and growth and sustainability are expected to increase. Emerging and developing countries, including Iraq over the medium term, are supported by a limited improvement in the outlook for commodity exporters.  
Steps are expected, with practical priorities, from the International Monetary Fund and global financial institutions 
- to stay away from protectionism (devastating because they impose the greatest pressure on the poorest consumers who buy relatively cheap imports).
- Addressing the global economic imbalances is not imposed by new trade barriers, but must be addressed by using financial instruments, including reducing the deficit to reach public debt to a sustainable path and the need to strengthen investment in infrastructure and increase spending on education, agriculture and industry to meet the requirements of development. 
Preventing financial risks  
globally The debts of sovereign entities, companies and institutions are at an unprecedented high level. In Iraq, however, the public debt has exceeded $ 100 billion, and this could show real danger to the financial situation and may lead to a real financial crisis.
The scenario of inflationary growth can be seen as an unexpected boom and the financial situation is suddenly tightened. These changes drive correction in financial markets and this is evident in improving performance and active diligence in dealing with Iraq's financial instruments and policies. 
There are real concerns about the affordability of public debt and the reversal of capital flows in emerging markets. 
Countries such as Iraq could seize the opportunity of the current economic growth momentum by adopting safety margins in their public finances, creating a space to manage the expected downtime according to economic situation variables and using their macro and micro prudential policies actively. In emerging economies, flexible exchange rates could help ease The external shocks, either in Iraq is indicative of the non-elasticity of exchange rates and closer to the stability and this is what we have seen in the crisis of low prices for the sale of oil and the exposure of Iraq from strong economic and financial shocks directly affected the reality of the federal budget and the disruption of investment projects Confidentiality and development. Accelerating economic reforms These reforms can be implemented more and more easily whenever economies are healthier, in other words now is a good time to accelerate reforms and must target markets and key labor sectors. Reduce skills gap



The reduction of the skills gap is more important today than ever before, because the digital revolution, electronic commerce and the digital economy are beginning to transform workplace and industry. McKinsey's global estimate is that 375 million workers at 14 percent of global employment may be at risk of losing jobs by the year 2030. 
It seems that we can assert that it will require action at the level of national strategies and policies. 
Documenting international cooperation and beneficial international agreements 
 Efforts should be intensified and agreements concluded in the form of mutual interests, attract investment, increase the movement and cycle of capital to achieve financial stability and mitigate the expected financial and economic risks, including the risks of increasing public debt and the risks of money laundering and terrorism financing.
Therefore, we believe that there are basic requirements for the prevention of financial and economic risks in Iraq as the precise identification of the model and the appropriate Iraqi economic model is very important in accordance with the capabilities and capabilities of Iraq and its geo-economic and geopolitical position, as well as the need to create a department to manage risks and crises, The State, both in the public sector and the private sector to become decisions of the decision-maker more accurate and correct and away from decisions based on non-specialized committees and studied. 
It is necessary to submit plans and strategies to the oversight and audit of the Office of Financial Supervision and to prove its real institutional reference to achieve effective control and implementation, evaluation and evaluation in a realistic, thoughtful and concrete.
We believe that the deterioration of the financial and economic crises in Iraq is beginning to change some of the managers of this file and neutralize it nationally and strengthen it with financial figures ambitious and able, as well as the economic figures expert has the ability and possibility of the practice of professional and scientific not only at the local level, but internationally and knowledge of technology electronically. 
As the file efficiency management and leadership of the economic and financial file is vital and strategic, which directly affects the structure of the Iraqi economy and rebuild the infrastructure to qualify the national agricultural and industrial sectors. 
It is necessary to transfer the public debt portfolio to an expert working team, accounting and legal specialist independently of the federal budget and subjecting it intensively to the internal and external audit bodies, and to work on scheduling the public debt and analyzing debt reconstruction with transparency, professionalism and responsibility.
It is also important to change the reality of investment vision and culture and accurately diagnose the reality of investment risks in Iraq. It requires planning and hard work specialized to prepare the requirements of the investment environment and work on studying the investment risks and creating real incentives for an investment market that works to attract foreign investments and capital and encourage economic growth that shares its fruits. everybody. * Financial Researcher
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Parliamentary Economy: Iraq's funds in the external sovereign fund do not know its fate

01:46 - 07/07/2018

 
image
 
 

Special - Mawazin News The 
Committee on Economy and Investment in the House of Representatives ended its legislative session, Saturday, that Iraq has funds in the sovereign foreign fund, but do not know its fate, pointing out that the budgets of provinces and salaries have been stolen. 
"Iraq's debts are all movies, we do not know what they are," said former member of the Committee, Jamila al-Obeidi. "Iraq before 2003 has money in foreign funds. Why have not these funds been disbursed?" . 
Al-Obeidi pointed out that "Iraq's funds in the external sovereign fund do not know where the money went," adding that "Iraq has farms and real estate abroad, we do not know the fate of its revenues where to go." 
"Iraq has asked for a lot of loans and grants for the reconstruction of Nineveh and has not yet been built, and also do not know the fate of those loans and grants."
With regard to the budgets of the provinces and salaries saved, al-Obeidi, it was "stolen in previous years," accusing the government of "lack of transparency and not honest." 
In the latest statistics of the debts of Iraq, amounted to 111 billion and 725 million dollars

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On 3/20/2017 at 6:15 AM, yota691 said:

noting that the loans go into the pockets of corrupt people and bears interest on the loans.

 

What ever happened to, WHERE DID YOU GET THAT MONEY FROM. 

You give a department head say 10,000000 dollars. That person is now reponsible for it. He distributes the money to other departments and checks that the money is being spent the way it's meant for.  How about, giving them half as much, 5,000000 and the other 5,000000 for jobs to investigators checking on where the money goes. If it goes to the wrong place, they loose their job and get a rope. Ultimately abadi was reponsible for a plan to stop the corruption and he failed. CURRUPTION = NO RV.

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The Central Bank of Iraq: We have 20 trillion dinars for the government

Central Bank of Iraq

  8550.jpg

 Banks

 

Economy News Baghdad

The Central Bank of Iraq reported on Wednesday that the debts owed by the government amounted to 20 trillion dinars, explaining that the optimal use of surplus amounts by the budget this year, the payment of that office.

"The bank's view, based on economic, financial and monetary considerations, believes that the best use of surplus amounts by balancing the current year of oil exports is to pay debts," said Al-Alaq, the governor of the Central Bank of Iraq. Which is central to the central bank and other banks, "noting that" their performance would fortify the bank from any future crisis, especially that the debts resulting from the government's budget amounted to the limit of 20 trillion dinars. "

"This method will contribute to maintaining financial, monetary and banking stability in the country, and it is necessary to give great importance, especially as the volume of liquidity drawn from the central bank is very large," he added.

And on the external debt, explained the links, "The installments are few and benefits are far and most of them debts not resolved," stressing that "there is no problem in postponement."

Views 72   Date Added 11/07/2018

http://economy-news.net/content.php?id=12871

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Central Bank of Iraq

  

 Banks


Economy News Baghdad

The Central Bank of Iraq reported on Wednesday that the debts owed by the government amounted to 20 trillion dinars, explaining that the optimal use of surplus amounts by the budget this year, the payment of that office.

"The bank's view, based on economic, financial and monetary considerations, believes that the best use of surplus amounts by balancing the current year of oil exports is to pay debts," said Al-Alaq, the governor of the Central Bank of Iraq. Which is central to the central bank and other banks, "noting that" their performance would fortify the bank from any future crisis, especially that the debts resulting from the government's budget amounted to the limit of 20 trillion dinars. "

"This method will contribute to maintaining financial, monetary and banking stability in the country, and it is necessary to give great importance, especially as the volume of liquidity drawn from the central bank is very large," he added.

And on the external debt, explained the links, "The installments are few and benefits are far and most of them debts not resolved," stressing that "there is no problem in postponement."


Views 74   Date Added 11/07/2018

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A
new debt economy estimated at $ 20 billion by the Iraqi government

New debts estimated at 20 billion dollars by the Iraqi government to this side
 
 Twilight News    
 
 6 hours ago
 

 

The Central Bank reported that its debt owed by the government is 20 trillion dinars, explaining that the optimal use of surplus amounts by the budget this year, the payment of that office.

"The bank's view, based on economic, financial and monetary considerations, considers that the best use of surplus amounts in this year's budget of oil exports is to pay the internal debts that belong to the bank," the semi-official newspaper Al-Sabah reported in its Wednesday edition. The central bank and other banks, "noting that" their performance would fortify the bank from any future crisis, especially that the debts resulting from the government's budget amounted to the limit of 20 trillion dinars. "

"This method will contribute to maintaining financial, monetary and banking stability in the country, and it is necessary to give great importance, especially that the volume of liquidity drawn from the central bank is very large, calling on the government to return to ensure the strengthening of the cash reserve."

And on the external debt, explained the links, "The installments are few and the benefits of the distant and most of the debt was not resolved, stressing" there is no problem in postponing. "

 
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20 trillion dinars government debt to the Central Bank

08:21 - 11/07/2018

 
image
 
 


Baghdad - Mawazin News 
The Central Bank disclosed its debts resulting from the government's budget of 20 trillion dinars, explaining that the optimal use of surplus amounts by the budget this year, the payment of that office. 
"The bank's view, based on economic, financial and monetary considerations, considers that the best use of surplus amounts in this year's budget of oil exports is to pay the internal debts that belong to the bank," the semi-official newspaper Al-Sabah reported in its Wednesday edition. The central bank and other banks, "noting that" their performance would fortify the bank from any future crisis, especially that the debts resulting from the government's budget amounted to the limit of 20 trillion dinars. "
"This method will contribute to maintaining financial, monetary and banking stability in the country, and it is necessary to give great importance, especially that the volume of liquidity drawn from the central bank is very large, calling on the government to return to ensure the strengthening of the cash reserve." 
And on the external debt, explained the links, "The installments are few and the benefits are far and most of them debts have not been resolved, stressing" there is no problem in postponement. "

 
 
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Editorial Date: 2018/7/11 8:24  826 times read
The Central Bank reveals huge debts to the government
{Baghdad: Al-Furat News} The Central Bank of Iraq, revealed huge debts owed to him by the government.
The central bank governor Ali al-Alaq said in a press statement that "the view of the bank based on economic considerations, financial and monetary, believes that the best use of excess amounts by balancing the current year of oil exports to pay the internal debts that belong to the Central Bank and other banks," noting that "Their fulfillment would fortify the bank from any future crisis, especially as its debts resulting from the government's debt to the bank amounted to the limit of 20 trillion dinars," ie (equivalent to about $ 19 billion). 
"This method will contribute to maintaining financial, monetary and banking stability in the country, and it is necessary to give great importance, especially that the volume of liquidity drawn from the central bank is very large, calling on the government to return to ensure the strengthening of the cash reserve."
And on the external debt, explained the most, "The installments are few and the benefits of a distant and most of the debt was not resolved, stressing" there is no problem in postponement. "
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Declaration of the end of the financial crisis in Iraq

Debt problems have become past

 

 

 

28 minutes ago

 

 NRT

 "The government has managed to overcome its financial crisis and the problems of deficit, debt and external and local borrowing are under control," said Mohamed Saleh, economic and financial adviser to Prime Minister Haider al-Abadi .

Saleh said in a press statement on July 17, 2018 that "Iraq exceeded its financial crisis through the financial flows to the budget of 2018 achieved by the rise in oil prices in world markets, which amounted to $ 64 per barrel," asserting that "global oil prices are on the rise "According to the newspaper Mada .

Saleh pointed out that "the problems of deficit, borrowing and borrowing have become the past because of high oil prices," pointing out that "the situation has become more comfortable compared to the past months, which gave the government the power to overcome the financial crisis suffocating ."

Saleh said that "the implementation of some needs became more flexible than the past years by the financial flow in the oil exports," noting: "If the parliament exists, the government sent a supplementary budget includes high oil prices for approval ."

It shows that "the surplus achieved in the current budget can not be manipulated, because it is not guaranteed in the draft budget law will be recycled in the next budget on the grounds that the parliament ended its current session can not send a supplementary budget for approval .

The financial adviser said that "in the event of a new parliament during the next two months could be sent the supplementary budget law for approval so that the new government to spend money on some projects due and stalled ."

"It is not possible to talk about the figures of this surplus and the surplus achieved in this year's budget until after the end of the current fiscal year, " Saleh said.

He pointed out that "Iraq exceeded the so-called point of parity in which the federal budget in the case of balance-free deficit after the price of oil barrel to more than $ 60," stressing that "the financial abundance achieved in the past year ."

He added that "there are funds owed to the Iraqi government as salaries to employees and retirees and social welfare and the payment of debt and investment project expenses amounting to a monthly to seven or six trillion dinars," stressing that "these amounts will be cut from the monthly oil sales of up to 9 trillion," noting that "The remainder of these amounts will be carried over to the coming months ."

As for the debt of the Iraqi government, the economic adviser says that "one third of Iraq's debt is subject to the debts of Paris Club, which has not been settled," noting that "these debts are mostly sovereign debt belonging to some of the Gulf states ."

The parliamentary finance committee, revealed last year that the volume of Iraq's internal and external loans amounted to 123 billion dollars, criticizing the policy of borrowing by the government, and called for austerity policy .

 

http://www.nrttv.com/AR/News.aspx?id=2432&MapID=2

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image.php?token=e402ebd43d1ea7d9ca9f9314e3d9f577&size=

 
 
Number of readings: 306 17-07-2018 03:20 PM

 
 

17-07-2018 03:20 PM 

 

The financial and economic adviser to Prime Minister Saleh appearance in a press statement on Tuesday that Iraq has exceeded its financial crisis through the financial flows to the budget of 2018 achieved by the rise in oil prices in global markets, which reached $ 64 per barrel.

Saleh stressed that global oil prices are on the rise, noting that the problems of deficit and debt have become part of the past.

Saleh added that the implementation of some needs has become more flexible than the past years by the financial flow in oil exports.

Saleh said that if the parliament was present, the government sent a supplementary budget including high oil prices for approval.

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      Posted on May 16, 2015by Martin Armstrong  
       
      This Sovereign Debt Crisis is the nature of the beast we face. Understanding that crisis is half the battle for after the business cycle turns, there will be a lot of finger-pointing but you can bet it will never be pointing at government. It does not matter what country we are from, the people are the same. The audience last night in Warsaw was articulate, understood, and the audience made it known that they too distrust government. It really matters not our nationality. People never start wars, only governments which are not the people.
       

       
      It is also never private debt that causes the end of a nation, it is the debt of government. When people default, their assets are seized and they were often thrown in debtors prison. When government defaults, you get revolution. Adam Smith called this the highest impertinence of kings to pretend to watch over the debts of the people and not their own. This cycle of political change is about 309.6 years. The last wave began in the 1600s and culminated in the late 1700s, The wave before that is where capitalism began during the 14th century with the reintroduction of wages and taxes following the Black Death of 1346-1353.
       
       

       
      The American people were not in support of the revolution until the very end like a Phase Transition. Those who wanted to leave Britain were only about 33%. Then a writer issued a pamphlet by the name of Thomas Paine entitled Common Sense. Paine explained that the nation or society is only the people and that government views itself as the nation yet is entirely different right from its origin. He further explained that “Society is produced by our wants, and government by our wickedness; the former promotes our POSITIVELY by uniting our affections, the latter  NEGATIVELY by restraining our vices. The one encourages intercourse (cooperation of people creating an economy) the other creates distinctions. The first a patron, the last a punisher.”
       
       

       
       
      We can see that despite the American and French Revolutions, government reverts always back to the dominant punisher assuming the very same power against which the people revolted to begin with. We can see Thomas Paine’s words are applicable today. The US government called Snowden a traitor for telling the people the government was illegally searching and seizing everything. It was irrelevant that he informed the people about the illegal acts of government. It was treason by their definition because he revealed what they were doing illegally to the people. That reflect what Paine said – they see themselves as the nation not the people who they exploit for their own survival.
       
      Understanding who is the enemy is the very first step in the reform process. About every 309 years we reach a crisis in government. This has been resolved unfortunately with violence for whoever is in power never goes quietly into the light. The late 1700s was of course the American and French Revolutions and today the people of both nations have less rights than existed when they rose up in their respective revolutions. Both were sparked by a debt crisis.
       
      In Britain, George III needed money so badly, he was taking Spanish coins and counterstamping his own image and making them English. The Assignates were paper money issued by the French that was back by confiscating the property of the Catholic Church. The Crown had bailed out the debt of the Mississippi Bubble of 1720 and that imposed harsh taxes upon the French people. We are in the very same position of a Sovereign Debt Crisis once again that is turning to confiscating everything we have as well as government is always driven by debt.
       
      Thomas Jefferson was highly practical. He wanted the Constitution to automatically expire every 19 years and he was against any government debt. Why? A national debt to Jefferson was taxing the next generation without representation. Indeed, we are being heavily taxed to support the continued rollover of debt.
       
      Without question, this is where we are once again. Jefferson understood looking at history that it repeats because human nature never changes. He saw war was caused by standing armies and once government is paying to maintain such a force, it is like have a car you never drive.
       
      If we look back 309 years from the 1700s, we come to the 14th-15th centuries. In Florence it began with a revolution where they too ran out and hanged bankers. The great series of tax revolts began on that cycle in England and France that finally culminated following the Black Death (1346–53) where capitalism really began with the reintroduction of wages given the shortage of labor.
       
      Perhaps this time we can put pressure for political change in eliminating debts and this viscous cycle of Sovereign Debt Defaults that destroy society. We can prepare for our individual survival by comprehending the nature of the beast. As was discussed in the session in Warsaw, it is true gold is no longer the savior since we cannot hop on a plane with a briefcase full of gold and seek a new start. Gold’s role may be local and in an underground economy, but make no mistake about that, government is well aware of that role as well.
       
      Governments are robbing anything travelers might have these days. There were even signs in Poland warning if you have more than €10,000 in cash or “assets” when traveling it was illegal. They will look for jewelry, stocks, gold, or diamonds. Anything they deem of value they can confiscate.
       
      This is a new age of authoritarianism and is not ending nicely. The idea of crypto-currencies is also rather foolish for nothing can compete against a government that is ruthless and broke. They have the guns and then tanks and will use them against the people. Our hope is to identify the problem and spread the word. Yeltsin stood on the tanks in Russia and asked the troops not to fire on their own people. If the pawns of government refuse to massacre their own people, then we can win. It is critical to understand that police and military will become the tool for both sides.
       
      This is why Brussels is now calling for a European Army. That will be their power and sending Greek troops into Germany will prevent the troops from siding with the people. This is also why there is a mad rush to create robots for war. They have no emotions and cannot be turned. Government understands their weak-link for throughout history it has always been the loyalty of the troops.
       
      That is what we must understand and we must understand that private assets are the means to survive – not pensions or government bonds. Eliminating cash is their way to force people into banks and prevent a bank-run. That will end in the total authoritarian government for you will not be allowed to buy or sell except without the grace of government.
    • By Sgwmax
      I am trying to understand what the community is referring too when the topic of taxes are raised as it relates to the impending CE.  I asked my tax advisor, and he explained to me that because the Currency being exchanged is in fact a debt note, and NOT a SECURITY, there are no taxes to be paid on any gains realized when the exchange is completed... so, please help me with understanding what I'm missing... Thanks everyone~!
    • By UNEEK
      Confessions of an Over-Saver: Why I Hate Spending Money
      Karen Mazzola, as told to Alden Wicker    Posted on May 31, 2013

      Everyone is talking about the crisis among twentysomethings. We don’t save enough. We’re behind on retirement. Our loans are untenable. We have high credit card debt.

      Not me.

      I’m a 27-year-old legal consultant in New York City. I don’t make six figures, but I make a comfortable income. And I like saving. A lot. Maybe a little too much.

      I max out my 401(k), have a robust savings account and no credit card debt, and I paid off $34,000 in student loans in less than a year. Even my parents think I’m an over-saver, and they save a lot.
       

        The author, Karen Mazzola at her mother’s wedding, where she wore a dress from Filene’s Basement and made her own bouquet. What Made Me This Way

      I was raised on Staten Island, New York in a middle class family. My dad was a teacher, and my mom worked for the government. We were generally financially secure, though somewhere below what would be termed “comfortable.” But for some reason, I got it into my head at a young age that we were poorer than we were.

      It probably had something to do with the fact that both my parents came from poor families. My dad’s parents were both factory workers who lived in Brooklyn in an apartment with no heat. When the factories would close down for a month in the summer, they went on temporary welfare.

      My mother grew up the oldest girl of seven kids in a two-bedroom house in Queens. She went to Queens College even though she was valedictorian of her class, because it was all her family could afford. I think she’s always regretted that she didn’t go somewhere fancier, so she’s made it her goal to give me and my brother as much as she could.

      For this reason, she tended to spoil us. I had several dozen Barbies, the Barbie dream house, the Barbie limo, the Barbie yacht (that thing had a working blender on it) and nice clothes.

      Of course, my mom bought everything on sale whenever she could, because that’s just how we roll in our family. And the rest of her money she saved and put in savings bonds … so she could give it to me and my brother later.

      (She gave my brother the down payment for his first condo and money for his next home with his wife, the result of saving a little bit of each paycheck since the day he was born.)

          I walk to work—it takes a half hour each way—rather than spend $2.50 each way on subway fare. That also saved me from getting a gym membership.

      I saw my parents fight about money a couple of times, and they were separated by the time I was eight. Though I later found out that their divorce was for very different reasons, I think that in my head I at least partly attributed their separation to money, which made me think that more money equaled less discord.

      How I Got Four Degrees and Owed Just $34,000

      My mom had saved money for college, but she thought it made more sense to go to undergrad for free and then go to a good graduate school. I applied to nine schools, got into all nine and I got four merit-based full-ride scholarships. Out of those four, I chose my favorite, the University of Delaware.

      College was basically free. My full ride came with housing and meals. I usually had some money left over from my book stipend, and I would live on that. I rarely ate outside of my meal plan. I didn’t drink until I was 21. There wasn’t much to do in my college town, and campus events were free or very cheap. I didn’t have a car, so I went to the mall maybe twice.

      The only thing I paid for was study abroad in Australia (and I went back for free as a teaching assistant the next year) and some summer classes, since I was getting two degrees, in civil engineering and English.

      After I graduated, I went straight to law school at Cornell. I used all the money my mom had saved for college, and during the summers I worked at a law firm. The rest of my degree I financed with the maximum amount of federal subsidized student loans.

      My second and third years in law school, I was a residential adviser. I loved being an R.A., but saving $10,000 a year on housing was definitely the impetus. I cooked most of my own food. My budget for going out and eating and drinking was probably less than $50 a month. I still had no car.

      When I did one more year at NYU to get my master’s in tax law, I lived with my dad in his studio in the city, even though all my friends lived in a dorm by the school. By the time I graduated, I had four degrees and only $34,000 in student loans.

      The day I graduated from law school in 2011, my mom found out she had breast cancer. I moved back home to live with her on Long Island, and used that time to apply for jobs. I got a job offer in the late fall, right around the time my mom finished with her surgeries and my student loans kicked in. My dad moved to Florida, so I moved back into his apartment in the city.

      Transitioning to Adulthood—and Saving Even More

      As soon as I started my job, I maxed out my 401(k) by putting in 21% of every paycheck. I put at least $1,600 (half of my take-home pay) toward my student loans each month – more than four times the minimum payment. My mom put $600 toward paying them off as well.

      The rest of my paycheck went toward roughly $700 for maintenance on my dad’s apartment, $100 for cable, $50 for utilities, $100 for groceries (vegetarianism and home cooking for the win!), $100 to charity, and a little bit to occasionally go out. I also tried to put money in my savings account, but inevitably took it out to put toward my loans anyway.

      While it might not be everyone’s idea of fun, I was obsessed with budgeting. Every dollar I spent on things other than loans had a 6.55% surcharge in my mind, because that was the percent I was being charged on my loans.

      I was really into online calculators and I maintained a massive spreadsheet detailing the principal, daily interest I was paying, and how much I would save overall if I paid off my loans faster.

      I was spending $5 a day in interest in the beginning, so I balanced this by walking to work—it takes a half hour each way—rather than spend $2.50 each way on subway fare.

      That also saved me from getting a gym membership and being crushed in rush hour subway traffic. I didn’t go out to eat often, if at all. I never got takeout.

      When I went drinking with my friends, I only paid in cash because then you can’t get a crazy bill, and you won’t forget your credit card somewhere. When the introductory price ran out on my cable, I cancelled it and switched to a digital antenna and a streaming video subscription.

      I will not pay retail on clothing—the most I’ve spent on a single piece of clothing this year was $100 on a deeply-discounted coat.

      I feel like there are two types of shoppers: hunter/gatherers like me, and farmers. The latter like everything in rows, organized by color and size, and they pay full price for the convenience. But I like to hunt for the one perfect piece and I will not spend more than 50% of the original price.

      My goal is to get 80% to 90% off. To do this, I go to stores like Marshalls and Century 21 (and then head straight to the sale section) or browse eBay and the local thrift stores.

      I have not taken a single day off work since I started 15 months ago. I reasoned that if I quit or got fired (not likely, but you never know), I would get paid for those vacation days. Each one is worth around $300, so I would think to myself, “Do I want this day off or do I want the $300?”

      I’m not sure if my bosses have noticed I’ve never taken a vacation day, but they definitely know I’m a saver. At work we generally congregate in the conference room for lunch after everyone gets takeout from various restaurants, but I always bring my lunch.

      I can’t fathom spending $15 for the convenience of having someone else make a salad for me when I don’t even spend $15 on my whole week of lunches—and they’re healthy (and delicious) lunches with lots of fresh veggies.

      So yeah, I’m vocal about it.

      My friends make fun of me sometimes, but in a good-natured way. Many are also recent law school grads, and they have incredible student loans, so they understand. We’ll get dollar pizza and Trader Joe’s wine and play video games at my apartment or go to dive bars.

      Sometimes they’ll comment on the fact that I’m more frugal than they are even though I no longer have loans and don’t pay full rent, but not in a negative way. I think anyone who would seriously criticize you for not spending as much them is a jerk, and I probably wouldn’t want to be friends with them anyway.

      Oh, and I never use my credit card. I probably have a terrible credit score, but I won’t need to take out any new loans any time soon. I just really hate paying interest.

      Bye-Bye, Student Loans

      I paid off my loans in September, less than a year after they kicked in, saving myself over $11,000 in interest. I switched from playing with loan calculators to retirement calculators (I love online calculators), and maxed out my IRA.

      I check my net worth every day and examine my spending using an online budgeting tool, like the LearnVest Money Center.

      In the past, I’ve never had more than $2,000 or $3,000 in the bank because I immediately put it toward my loans. Now I have real money, and I don’t know what to do with it! I’ll probably invest in the stock market or redo the bathroom in my apartment.

      I do spend a little more than I used to, and I don’t feel as guilty. If I see a piece of clothing I like, I’ll give myself a pep talk. “It’s $30, you like it, and you can afford it.” I still only buy items when they’re on sale, though.

      I feel like my life is pretty full, though I’m terrible at dating. I like to pay for my own food and drinks on a date, and I’ll think, do I like this guy enough to swipe my Metro Card to get there, pay $20 for food, $10 for drinks, and Metro Card it home? The answer is often no. But for my friends? I’ll pay that much to see them. It’s all about knowing what’s worth it to you.

      I know what you’re thinking, and it’s true: I’m pretty responsible, but I couldn’t have gotten here without my parents’ help and guidance. I’m incredibly grateful, especially to my mom.

      You know what my ultimate financial goal is? I hope to someday be rich enough that my mom never has to worry about money again. It’s probably impossible given her nature, but it’s my hope nonetheless.

      Love reading other people’s financial tales? Check out more great LearnVest-exclusive personal stories.
       
    • By thegente
      World Bank Insider Blows Whistle on Corruption, Federal Reserve

      Wednesday, 22 May 2013 

      A former insider at the World Bank, ex-Senior Counsel Karen Hudes, says the global financial system is dominated by a small group of corrupt, power-hungry figures centered around the privately owned U.S. Federal Reserve. The network has seized control of the media to cover up its crimes, too, she explained. In an interview with The New American, Hudes said that when she tried to blow the whistle on multiple problems at the World Bank, she was fired for her efforts. Now, along with a network of fellow whistleblowers, Hudes is determined to expose and end the corruption. And she is confident of success. 

      Citing an explosive 2011 Swiss study published in the PLOS ONE journal on the “network of global corporate control,” Hudes pointed out that a small group of entities — mostly financial institutions and especially central banks — exert a massive amount of influence over the international economy from behind the scenes. “What is really going on is that the world’s resources are being dominated by this group,” she explained, adding that the “corrupt power grabbers” have managed to dominate the media as well. “They’re being allowed to do it.”

      According to the peer-reviewed paper, which presented the first global investigation of ownership architecture in the international economy, transnational corporations form a “giant bow-tie structure.” A large portion of control, meanwhile, “flows to a small tightly-knit core of financial institutions.” The researchers described the core as an “economic ‘super-entity’” that raises important issues for policymakers and researchers. Of course, the implications are enormous for citizens as well.

      Hudes, an attorney who spent some two decades working in the World Bank’s legal department, has observed the machinations of the network up close. “I realized we were now dealing with something known as state capture, which is where the institutions of government are co-opted by the group that’s corrupt,” she told The New American in a phone interview. “The pillars of the U.S. government — some of them — are dysfunctional because of state capture; this is a big story, this is a big cover up.”

      At the heart of the network, Hudes said, are 147 financial institutions and central banks — especially the Federal Reserve, which was created by Congress but is owned by essentially a cartel of private banks. “This is a story about how the international financial system was secretly gamed, mostly by central banks — they’re the ones we are talking about,” she explained. “The central bankers have been gaming the system. I would say that this is a power grab.”

      The Fed in particular is at the very center of the network and the coverup, Hudes continued, citing a policy and oversight body that includes top government and Fed officials. Central bankers have also been manipulating gold prices, she added, echoing widespread concerns that The New American has documented extensively. Indeed, even the inaccurate World Bank financial statements that Hudes has been trying to expose are linked to the U.S. central bank, she said. 

      “The group that we’re talking about from the Zurich study — that’s the Federal Reserve; it has some other pieces to it, but that’s the Federal Reserve,” Hudes explained. “So the Federal Reserve secretly dominated the world economy using secret, interlocking corporate directorates, and terrorizing anybody who managed to figure out that they were having any kind of role, and putting people in very important positions so that they could get a free pass.”

      The shadowy but immensely powerful Bank for International Settlements serves as “the club of these private central bankers,” Hudes continued. “Now, are people going to want interest on their country’s debts to continue to be paid to that group when they find out the secret tricks that that group has been doing? Don’t forget how they’ve enriched themselves extraordinarily and how they’ve taken taxpayer money for the bailout.”

      As far as intervening in the gold price, Hudes said it was an effort by the powerful network and its central banks to “hold onto its paper currency” — a suspicion shared by many analysts and even senior government officials. The World Bank whistleblower also said that contrary to official claims, she did not believe there was any gold being held in Fort Knox. Even congressmen and foreign governments have tried to find out if the precious metals were still there, but they met with little success. Hudes, however, believes the scam will eventually come undone.

      “This is like crooks trying to figure out where they can go hide. It’s a mafia,” she said. “These culprits that have grabbed all this economic power have succeeded in infiltrating both sides of the issue, so you will find people who are supposedly trying to fight corruption who are just there to spread disinformation and as a placeholder to trip up anybody who manages to get their act together.… Those thugs think that if they can keep the world ignorant, they can bleed it longer.”

      Of course, the major corruption at the highest levels of government and business is not a new phenomenon. Georgetown University historian and Professor Carroll Quigley, who served as President Bill Clinton’s mentor, for example, wrote about the scheme in his 1966 book Tragedy And Hope: A History Of The World In Our Time. The heavyweight academic, who was allowed to review documents belonging to the top echelons of the global establishment, even explained how the corrupt system would work — remarkably similar to what Hudes describes.

      "The powers of financial capitalism had a far-reaching aim, nothing less than to create a world system of financial control in private hands able to dominate the political system of each country and the economy of the world as a whole,” wrote Prof. Quigley, who agreed with the goals but not the secrecy. “This system was to be controlled in a feudalist fashion by the central banks of the world acting in concert by secret agreements arrived at in frequent private meetings and conferences. The apex of the system was to be the Bank for International Settlements in Basel, Switzerland, a private bank owned and controlled by the world's central banks which were themselves private corporations."

      But it is not going to happen, Hudes said — at least not if she has something do to with it. While the media are dominated by the “power grabber” network, Hudes has been working with foreign governments, reporters, U.S. officials, state governments, and a broad coalition of fellow whistleblowers to blow the entire scam wide open. There has been quite a bit of interest, too, particularly among foreign governments and state officials in the United States.

      Citing the wisdom of America’s Founding Fathers in creating a federal system of government with multiple layers of checks and balances, Hudes said she was confident that the network would eventually be exposed and subjected to the rule of law, stopping the secret corruption. If and when that happens — even if it may be disorderly — Hudes says precious metals will once again play a role in imposing discipline on the monetary system. The rule of law would also be restored, she said, and the public will demand a proper press to stay informed.

      “We’re going to have a cleaned-up financial system, that’s where it is going, but in the meantime, people who didn’t know how the system was gamed are going to find out,” she said. “We’re going to have a different kind of international financial system.... It’ll be a new kind of world where people know what’s going on — no more backroom deals; that’s not going to keep happening. We’re going to have a different kind of media if people don’t want to be dominated and controlled, which I don’t think they do.”

      While Hudes sounded upbeat, she recognizes that the world is facing serious danger right now — there are even plans in place to impose martial law in the United States, she said. The next steps will be critical for humanity. As such, Hudes argues, it is crucial that the people of the world find out about the lawlessness, corruption, and thievery that are going on at the highest levels — and put a stop to it once and for all. The consequences of inaction would be disastrous. 

      http://www.thenewamerican.com/economy/economics/item/15473-world-bank-insider-blows-whistle-on-corruption-federal-reserve?utm_source=feedly
       
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