Float currency

[yota691]

• Central Bank: It is difficult to apply dinar float in Iraq

By

 rami

 -

December 24, 2017

17

0

 

 

 

The governor of the Central Bank, Ali al-Alaq, that floating the dinar is difficult to apply in Iraq because the government monopolizes the dollar, indicating that the reserves of Iraq is 48 billion US dollars.
Al-Alak said in an interview with Al-Arabi African newspaper that “the oil countries usually rely on a fixed exchange rate, or fixed with flexibility, and do not resort to the float method, unless their reserves are controlled to a level that is insufficient, which did not happen either in Iraq or countries “Noting that” floating is difficult to apply in Iraq, considering that the government monopoly, de facto, the offer of the dollar and foreign currencies. ”
He added that “Iraq’s reserve of the dollar is 48 billion US dollars.”
He pointed out that “there is an understanding and coordination between the Central Bank and the government through the Ministry of Finance, and in this regard has formed a Higher Coordination Committee between the Ministry and the Central Bank; therefore, work together through the program of credit readiness with the IMF, as this program includes reforms and procedures related to Mainly economic, financial and monetary structures. ”
“At this stage, the Central Bank of Iraq is focused on achieving the concept of” financial inclusion “and its applications, where the circumstances of previous years did not help because of the security and financial instability, the Bank has developed a short-term and long-term plan to expand the application of this concept, That “the short-term plan aims to agree with the government to deposit salaries of all state employees in banks, which will add more than 3 million people to deal with banks, and long-term resettlement.”

[yota691]

Central Bank: Flooding of the dinar is difficult to apply in Iraq

 

Governor of the Central Bank Ali Alalak "Economy News"

Economy News Baghdad: The governor of the Central Bank, Ali al-Alaq, that floating the dinar is difficult to apply in Iraq because the government monopolizes the dollar, indicating that the reserves of Iraq is 48 billion US dollars. Al-Alak said in an interview with Al-Arabi African newspaper and read by "Economy News" that "the oil countries usually rely on a fixed exchange rate, or fixed with flexibility, and do not resort to float method, unless their reserves are controlled to a level below the adequacy, which is not Whether in Iraq or other oil states, "noting that" flotation is difficult to apply in Iraq, considering that the government, de facto, monopoly the offer of the dollar and foreign currencies. " He added that "Iraq's reserve of the dollar is 48 billion US dollars." He pointed out that "there is an understanding and coordination between the Central Bank and the government through the Ministry of Finance, and in this regard has formed a Higher Coordination Committee between the Ministry and the Central Bank; therefore, work together through the program of credit readiness with the IMF, as this program includes reforms and procedures related to Mainly economic, financial and monetary structures. " "At this stage, the Central Bank of Iraq is focused on achieving the concept of" financial inclusion "and its applications, where the circumstances of previous years did not help because of the security and financial instability, the Bank has developed a short-term and long-term plan to expand the application of this concept, That "the short-term plan aims to agree with the government to deposit salaries of all state employees in banks, which will add more than 3 million people to deal with banks, and long-term resettlement."     Views 975   Date Added 24/12/2017

[nannab]

Well then start of with 3-1 and be done with it. 

Good morning Yota and DV. 

[danielchu]

A managed or foxed system is the way to go and he is saying it .. Merry christmas  DV !!

[Spider]

2 minutes ago, nannab said:

Well then start of with 3-1 and be done with it. 

Good morning Yota and DV. 

 

I agreed. That is the solution of the problem. 

[blueskyline]

Thank You Yota . GM and Merry Christmas Eve DV’s . There talking about it . We are getting closer ! ..................... Santa might trade in his sleigh for a ...........S

[jeepguy]

not to float  , but managed ,   even  at .25 cents per   will work ,  get  the lead out !   lets see some  excitement  in the right direction 

[mannie2g]

I wonder what kap is going to say about this article lol

[blueskyline]

10 minutes ago, mannie2g said:

I wonder what kap is going to say about this article lol

“Let’s be cautious.... but I believe this is smoke “ end Quote ......... (just do it ! ) 

[yota691]

7 minutes ago, mannie2g said:

I wonder what kap is going to say about this article

It doesn't matter what he has to say....

[Bama Girl]

1 hour ago, yota691 said:

where the circumstances of previous years did not help because of the security and financial instability, 

 

We’ve been reading a similar  phrase since Shabibi was Governor of the CBI. “Political and financial security” has been used in the past. 

 

My question to you is, can Iraq have political security while Maliki and his goons are loose?  My other concern is whether the CBI will pull the trigger until the the corruption is brought under control. Thoughts anyone?? 

[nfire]

I like the managed RV. Boom change the rate for daddy. 

[DinarDavo]

8 minutes ago, Bama Girl said:

 

We’ve been reading a similar  phrase since Shabibi was Governor of the CBI. “Political and financial security” has been used in the past. 

 

My question to you is, can Iraq have political security while Maliki and his goons are loose?  My other concern is whether the CBI will pull the trigger until the the corruption is brought under control. Thoughts anyone?? 

 

Good points Bama Girl........as recent news would indicate that Maliki has gone from cunning and shrewd to possibly mentally unstable and the depth of corruption may be beyond manageable anytime SOON.

 

[mannie2g]

18 minutes ago, yota691 said:

It doesn't matter what he has to say....

Your right,  it doesn't matter what he has to say. He's the main one that has been saying the dinar will float for so long 

[blueskyline]

29 minutes ago, Bama Girl said:

 

We’ve been reading a similar  phrase since Shabibi was Governor of the CBI. “Political and financial security” has been used in the past. 

 

My question to you is, can Iraq have political security while Maliki and his goons are loose?  My other concern is whether the CBI will pull the trigger until the the corruption is brought under control. Thoughts anyone?? 

At this stage, the Central Bank of Iraq is focused on achieving the concept of" financial inclusion "and its applications,.....(and then he goes on to say this )......where the circumstances of previous years did not help because of the security and financial instability,... looks to me that they have the stability they did not have in the past even with Maliki and his Goons still in office . Alak is moving forward with reforms just like Abadi stated 2 weeks ago ....Higher Coordination Committee between the Ministry and the Central Bank; therefore, work together through the program of credit readiness with the IMF, as this program includes ((((reforms ))))and procedures related to Mainly economic, financial and monetary structures. "

[yota691]

Governor of the Central Iraqi Dinar Flooding difficult to apply

Alalak comments on the sidelines of the third conference of the Iraqi Center

 

 24 December 2017 04:12 PM

Direct : The governor of the Central Bank of Iraq that the flotation of the Iraqi dinar difficult to apply as a monopoly of the government to offer the dollar and foreign currency in the country.

Ali al-Alak said in an interview with the newspaper "Arab African" Iraqi, that the oil states rely on a fixed exchange rate, or fixed with flexibility, and does not resort to the method of floating the currency, which is not happening, whether in Iraq or other oil countries.

Al-Alak pointed out that the decision of the Egyptian Central Bank to float the pound, in November 2016, is a correct step , but it came too late.

The Central Bank of Iraq took a series of measures to achieve financial and economic stability in the country, including the removal of the financial sector from risks and prevention; issuing the law on combating money laundering and financing terrorism in 2015.

It has also completed the strengthening of prudential supervision and the strengthening of payment systems and electronic payment systems for clearing and settlement operations in order to regulate, control and control banking operations.

The Governor of the Iraqi Bank, Baghdad's efforts to achieve the concept of "financial inclusion" and its applications, after the instability of security and financial in previous years without implementation.

He said that the short-term plan aims to deposit salaries of all state employees in banks, which strengthens the base of customers with more than 3 million people.

[jeepguy]

4 minutes ago, yota691 said:

pointed out that the decision of the Egyptian Central Bank to float the pound, in November 2016, is a correct step , but it came too late.

Iraq needs to hurry the  health up !      2018  1st quarter  will be fine ,  { will need international banks too start using the dinar,  or  trading  that is  }  ...   in the past   the political bumps in Iraq would say  one thing and the opposite would come true ,   so what ever they do  ,  do it  1st quarter 2018  -------->  over  .10 cents  dudes

[tigergorzow]

Yota Thanks,  DV,  We are truly in for a very interesting early 2018.   Git er done boys & girls.

 

GO RV / RI

[drj]

50 minutes ago, yota691 said:

It doesn't matter what he has to say....

 

 

Exactly!!!

 

Merry Christmas to you and everyone at DV!

[Sk 1962]

Early 2018 will work for me!

MERRY CHRISTMAS EVERYONE 

[bkeiller]

So, we know that the announcement of the liberation of Iraq (Victory Day, Dec 10th) coincided with the international human rights day. So, is there a day of significance in the Iraqi calendar or the 'western' calendar to announce the rv/float/etc.?  Will we get more 'international symbolism' in the financial reboot?

https://publicholidays.me/iraq/2018-dates/

Edited December 24, 2017 by bkeiller

[Synopsis]

42 minutes ago, yota691 said:

Ali al-Alak said in an interview with the newspaper "Arab African" Iraqi, that the oil states rely on a fixed exchange rate, or fixed with flexibility, and does not resort to the method of floating the currency, which is not happening, whether in Iraq or other oil countries.

 

43 minutes ago, yota691 said:

It has also completed the strengthening of prudential supervision and the strengthening of payment systems and electronic payment systems for clearing and settlement operations in order to regulate, control and control banking operations.

The Governor of the Iraqi Bank, Baghdad's efforts to achieve the concept of "financial inclusion" and its applications, after the instability of security and financial in previous years without implementation.

He said that the short-term plan aims to deposit salaries of all state employees in banks, which strengthens the base of customers with more than 3 million people.

 

Good Morning, All DV, AND Merry Christmas and Happy New Year To You All!!!    

 

                

 

These are things You All commented on but I wanted to summarize.

 

Looks like a float is highly unlikely so a fixed with flexibility, reinstatement, or revaluation rate is in the cue!!!

 

Enjoy Your Christmas and Holiday Season!!! Remember the Reason For The Season!!!

 

Go Moola Nova!

[ChuckFinley]

8 minutes ago, Synopsis said:

 

 

Good Morning, All DV, AND Merry Christmas and Happy New Year To You All!!!    

 

                

 

These are things You All commented on but I wanted to summarize.

 

Looks like a float is highly unlikely so a fixed with flexibility, reinstatement, or revaluation rate is in the cue!!!

 

Enjoy Your Christmas and Holiday Season!!! Remember the Reason For The Season!!!

 

Go Moola Nova!

   That. 

[newbieDA]

[DropItLikeItsHot]

Love It !! Great post Yota!

They keep talking about an increase,,, I agree 2018 is going to be GREAT!

Happy Holidays Everyone!