Report: Saudi Arabia seizes 48% of foreign currency reserves for Arab countries

[mr.unlikely]

WOW from 60 billion to 62 billion in six months. that aint a bad wage from anybodys standpoint. The CBI is raking in around 4 billion a year profit, just from middlemanning the money. what a racket. 

[Butifldrm]

Economist: Increased foreign exchange reserves contribute to the internal debt

 

 

BAGHDAD - 
Economist Salama Smisem said on Tuesday that Iraq's foreign currency reserves will increase from the dollar to guarantee the stability of the local currency and the market, indicating that this increase will end dependence on foreign loans and contribute to the total internal debt. 
"The continued increase in the foreign currency reserves in Iraq is evidence of the recovery of the economy and its growth after the crisis that hit the country," Smsem said in a statement to the "Information" that "raising the monetary reserve contributes to the stability of the dinar exchange rate and strengthen its global standing as well as the possibility of Investing it as an ideal guarantee of the economy. " 
She added that "the economic abundance of the government will contribute to reducing dependence on foreign loans, as well as the possibility of repayment of internal debts such as dues of farmers and contractors and the remaining investment in the establishment of schools and urban life."
On Tuesday, Central Bank of Payments director-general Suha Abdul Karim announced the rise in foreign exchange reserves from $ 40 billion to $ 62 billion, while the bank's success in controlling inflation was confirmed. Ending / 25 d

https://www.almaalomah.com/2019/04/16/400524/

[yota691]

Member of parliamentary finance reveals "the most" years increase by the actual revenues of the state

 

Sunday 21 April

 

 

Alsumaria News / Baghdad revealed the parliamentary Finance Committee member Magda Tamimi , Sunday, figures for "more" years an increase in the actual income of the state, while suggesting it years "waste" big.  Al-Tamimi said in a tweet to her on Twitter, followed by Alsumaria News, that "the most years of increase in actual revenues are 2012, where it reached 119.8 trillion, followed by 2013 by 113.8, and after 2011 108.8, and comes in the fourth grade in 2014, where revenues amounted to 105.3 trillion" .   Al-Tamimi concluded by saying that "these are big revenues and a great waste."

[nannab]

And you all know who has most of it!  Either put up and get it back

or shut up.   

 

[yota691]

Abdul-Karim Shangar: The accumulated liquidity attracts foreign capital

Friday, 17 May 2019 35

 

Baghdad / Emad Al-Amara

The economic economist Dr. Abdul-Karim Jaber Shangar said that there is consistency between the terminology of international liquidity with the term foreign reserves, which is the accumulated part of international liquidity and is maintained by the monetary authorities and can use it at any time without restriction or condition.

 

Monetary authorities

"There are characteristics in terms of the extent of control of the monetary authorities and their freedom to use their reserves. If there is an internal or external constraint on their use, such as keeping part of these assets, the retained portion will lose its status as one of the components of international liquidity, "He said.

"These characteristics enjoy a balanced balance of payments and provide a broad economic cover. The state owns the leading currency for large financial and monetary markets through which it can direct international capital, as well as the size of the country's economic size and its contribution to international trade.

And the importance of "the degree of acceptance received by the element granted by one state to another to settle the obligations and rights and exchanges between them, as well as the degree of unconditional availability of monetary authorities in the States concerned, so that they can be used to achieve its purposes or add to what it has in the light of the policy of the State Economic development 

And cash. " 

"The degree of liquidity of the element is determined by its source, if it stems from the economy of the state itself, such as the result of a surplus in the balance of trade and the balance of capital movement. The liquidity level here is high in this case, or in the case of obtaining loans from external sources, Be low ".

 

Gold Base

"The majority of different monetary systems were based on gold in their assessment and issuance of monetary union, and these systems were involved in all the conditions of the application of the gold rule as a necessity to determine the value of cash equivalent gold."

"The experience of applying the gold rule in its old form, which dates back to the 19th century, was characterized by the sovereignty of the sterling and its emergence as a leading international currency," he said.

Adding that "this remarkable emergence of the pound was the result of the control of the London market after the industrial revolution in Europe created a strong demand for food and raw materials, as well as Britain's mission to invest in the world after investing 5% of its national output abroad during the period 1880/1900 And 10 percent before World War I. "

"After that, the British Pound gave up the lead to the dollar during the period 1919/1945, after the United States of America played a role similar to the British pound in financing the issuance of long-term bonds, for example between 1,700 foreign exchange in dollars, the average maturity period was about half 20 years and 4 percent of which the maturity period is 40 years and 1 percent more than that. "

 

foreign currency

"The need for the use of foreign currency reserves in addition to gold, which has increased the cost of its currency and circulation and the global desire to reduce its use, has increased as long as token money, mandatory paper money, does the same job for gold," he said.

"Accordingly, the relative importance of foreign exchange reserves as a component of international liquidity has increased," he said.

He pointed out that "the functions of the currencies of leadership are the same as the gold before his departure from the old and new monetary systems, it is known that all components of international trade and international reserve denominated in one of the currencies of leadership, and that the currencies of leadership are only national currencies have emerged at the level International as a result of the availability of certain characteristics characteristic of the state owner of that currency. "

[6ly410]

 

Central Bank: total foreign reserves of $ 72 billion

2019/07/04 17:54

http://almasalah.com/ar/news/174206/البنك-المركزي-ارتفاع-اجمالي-الاحتياطيات-الأجنبية-لـ-72-مليار-دولار

The Central Bank of Iraq announced on Thursday, July 4, 2019, the rise of total foreign reserves to 72 billion dollars, indicating that this increase is the result of the investment policy followed by the bank and diversify them using safe tools.

"The total foreign reserves increased to 72 billion US dollars in the light of the first half of 2019," an authoritative source at the central bank said in a press statement. "These reserves could rise to the limit of 86 billion dollars if the Ministry of Finance And by taking advantage of high oil export revenues, to pay $ 14 billion to the central bank, which represent the remittances of the treasury, which was deducted by the bank during the period of financial crisis, seeking to achieve financial stability at the time.

He added that "this increase is the result of the investment policy followed by the bank and diversification of the use of safe tools, which strengthens the international credit situation, and enhance confidence in the Iraqi economy, in the framework of efforts to achieve monetary stability, as confirmed by exchange rate indicators, which remained in a state of balanced stability Over the past two years ".

The source added that "the achievement of this increase came in light of the Bank continued its financial initiatives in support of investment projects, including the initiative of financing the 5 trillion Iraqi dinars, for projects of housing, agriculture and industry, in addition to the amount of trillion dinars for small and medium enterprises, which contributes to reducing the unemployment rates."

 

Edited July 4, 2019 by 6ly410

[Laid Back]

GREAT NEWS💥

 

From $62.5 billion dollars in foreign currency reserves to $72 billion dollars.

 

More foreign currency reserves means the dinar can support a higher value.

 

43 trillion dinars in circulation / 1190 = $ 36.1 billion dollars 

 

$72 billion dollars in foreign currency reserves / $36 billion dollars in circulation 

= $2 

 

With the new new amount of foreign currency reserves the cbi can cover all monetary mass by 200%

 

just mi opinion 

 

thanks for the post 6ly410.

 

Go cbi

Go RV

Go Sooner than later

 

 

[Half Crazy Runner]

1 hour ago, Laid Back said:

just mi opinion 

 

I highly value your opinion! 👍🏻

[Dinarrock]

1 hour ago, Laid Back said:

GREAT NEWS💥

 

From $62.5 billion dollars in foreign currency reserves to $72 billion dollars.

 

More foreign currency reserves means the dinar can support system" rel="">support a higher value.

 

43 trillion dinars in circulation / 1190 = $ 36.1 billion dollars 

 

$72 billion dollars in foreign currency reserves / $36 billion dollars in circulation 

= $2 

 

With the new new amount of foreign currency reserves the cbi can cover all monetary mass by 200%

 

just mi opinion 

 

thanks for the post 6ly410.

 

Go cbi

Go RV

Go Sooner than later

 

 

Absolutely agree with you! Iraq should come out at a rate of just over $2.00. They can cover this and that’s only their cash reserves, this doesn’t count all their gold reserves either...Great News!

[yota691]

Central Bank announces total foreign reserves to $ 72 billion

Economie

2019-07-04 10:43

 

 

3,427 views

 

The Central Bank of Iraq announced on Thursday that the total foreign reserves to 72 billion dollars, indicating that this increase is the result of the investment policy followed by the bank and the diversification of the use of safe tools.

Said an authorized source at the central bank in a statement received, Alsumaria News, a copy of it, that "total foreign reserves to 72 billion US dollars rose, in the light of the first half of the year 2019 data , " stressing " the possibility of the increase of these reserves to the borders of the 86 billion If the Ministry of Finance, taking advantage of high oil export revenues, to pay $ 14 billion to the Central Bank, which represent the remittances of the treasury, which the bank during the period of financial crisis, in an attempt to achieve financial stability at the time.

 

He added that "this increase is the result of the investment policy pursued by the bank and diversification by the use of safe tools, which strengthens the international credit situation and enhance confidence in the Iraqi economy, in the framework of efforts to achieve monetary stability, as confirmed by exchange rate indicators, which remained in a state of balanced stability Over the past two years ".

The source added that "the achievement of this increase came in light of the Bank continued its financial initiatives in support of investment projects, including the initiative of financing the 5 trillion Iraqi dinars, for projects of housing, agriculture and industry, in addition to the amount of trillion dinars for small and medium enterprises, which contributes to reducing the unemployment rates."

[yota691]

 

Central Bank: total foreign reserves to $ 72 billion

 

04-07-2019 05:53 PM 
Number of Views: 157

 

Agency of the orbit -

Baghdad

The Central Bank of Iraq announced on Thursday that the total foreign reserves to 72 billion dollars, indicating that this increase is the result of the investment policy followed by the bank and the diversification of the use of safe tools.

"The total foreign reserves rose to 72 billion US dollars in the light of the first half of 2019," an authorized source at the central bank said in a statement received by Al Madar. "These reserves could rise to the $ 86 billion limit if The Ministry of Finance, taking advantage of high oil export revenues, to pay $ 14 billion to the Central Bank, which represent the remittances of the treasury, which the bank during the period of the financial crisis, seeking to achieve financial stability at the time.

He added that 'this increase is the result of the investment policy pursued by the bank and the diversification of the use of safe tools, which strengthens the international credit situation, and enhance confidence in the Iraqi economy, in the framework of efforts to achieve monetary stability, as confirmed by exchange rate indicators, which remained in a state of balanced stability Over the past two years'.

The source added that 'the achievement of this increase came in light of the continuation of the bank's financial initiatives in support of investment projects, including the initiative of financing the 5 trillion Iraqi dinars, for projects of housing, agriculture and industry, in addition to the amount of trillion dinars for small and medium enterprises, thus contributing to reduce unemployment rates.

 

 

 

 

[Butifldrm]

 

2019/07/04 17:54

• Number of readings 203
• Section: Iraq
•  
•  

Central Bank: total foreign reserves of $ 72 billion

The Central Bank of Iraq announced on Thursday, July 4, 2019, the rise of total foreign reserves to 72 billion dollars, indicating that this increase is the result of the investment policy followed by the bank and diversify them using safe tools.

"The total foreign reserves increased to 72 billion US dollars in the light of the first half of 2019," an authoritative source at the central bank said in a press statement. "These reserves could rise to the limit of 86 billion dollars if the Ministry of Finance And by taking advantage of high oil export revenues, to pay $ 14 billion to the central bank, which represent the remittances of the treasury, which was deducted by the bank during the period of financial crisis, seeking to achieve financial stability at the time.

He added that "this increase is the result of the investment policy followed by the bank and diversification of the use of safe tools, which strengthens the international credit situation, and enhance confidence in the Iraqi economy, in the framework of efforts to achieve monetary stability, as confirmed by exchange rate indicators, which remained in a state of balanced stability Over the past two years ".

The source added that "the achievement of this increase came in light of the Bank continued its financial initiatives in support of investment projects, including the initiative of financing the 5 trillion Iraqi dinars, for projects of housing, agriculture and industry, in addition to the amount of trillion dinars for small and medium enterprises, which contributes to reducing the unemployment rates."

 

Follow the obelisk 

http://almasalah.com/ar/news/174206/البنك-المركزي-ارتفاع-اجمالي-الاحتياطيات-الأجنبية-لـ-72-مليار-دولار

 

 

[Laid Back]

22 hours ago, Half Crazy Runner said:

 

I highly value your opinion! 👍🏻

I really appreciate it HCR, 👍🏼😊 Thanks for your input.!

 

22 hours ago, Dinarrock said:

Absolutely agree with you! Iraq should come out at a rate of just over $2.00. They can cover this and that’s only their cash reserves, this doesn’t count all their gold reserves either...Great News!

Dinarrock, I’m a believer of $1:1 but iraqi dinar has a lot of potential.

 

Go CBI

Go dinar 

Go strong 1+ or 2+ or former glory 😊

[Wiljor]

23 hours ago, Laid Back said:

GREAT NEWS💥

 

From $62.5 billion dollars in foreign currency reserves to $72 billion dollars.

 

More foreign currency reserves means the dinar can support system" rel="">support a higher value.

 

43 trillion dinars in circulation / 1190 = $ 36.1 billion dollars 

 

$72 billion dollars in foreign currency reserves / $36 billion dollars in circulation 

= $2 

 

With the new new amount of foreign currency reserves the cbi can cover all monetary mass by 200%

 

just mi opinion 

 

thanks for the post 6ly410.

 

Go cbi

Go RV

Go Sooner than later

 

 

Awesome news my brother, perhaps sooner, rather then later, we will see Iraq’s true value. Wishing you well 🙏

[6ly410]

 

"Finance" expects to increase Iraq's reserves of foreign currency to 86 billion dollars

 

2019-07-05 17:26:27

https://www.shafaaq.com/ar/اقتصـاد/المالية-تتوقع-ارتفاعا-باحتياطي-العراق-من-العملة-الصعبة-الى-86-مليار-دولار/

 

The House of Representatives Finance Committee on Friday expected the rise in crude oil prices on world markets to increase the reserves of Iraq from foreign currency to 86 billion US dollars.

Hoshyar Abdullah, a member of the committee, said in a publication on social networking sites today that, taking advantage of high oil prices, Iraq's foreign currency reserves are expected to reach 86 billion dollars.

"Everyone knows that the main revenues of Iraq are from oil exports and with the costs of war against the organization and the existence of displacement and the consequent financial crisis and low oil prices, but it has been able to stabilize the economic situation in Iraq, especially with regard to monetary policy" .

[3n1]

4 hours ago, Butifldrm said:

The Central Bank of Iraq announced on Thursday, July 4, 2019, the rise of total foreign reserves to 72 billion dollars, indicating that this increase is the result of the investment policy followed by the bank and diversify them using safe tools

 

funny how that works when skimming off the top and more controlled oversight occurs then the money supply increases  go figure .... great articles .... letsroll

[3n1]

7 minutes ago, 6ly410 said:

 

"Finance" expects to increase Iraq's reserves of foreign currency to 86 billion dollars

 

2019-07-05 17:26:27

https://www.shafaaq.com/ar/اقتصـاد/المالية-تتوقع-ارتفاعا-باحتياطي-العراق-من-العملة-الصعبة-الى-86-مليار-دولار/

 

The House of Representatives Finance Committee on Friday expected the rise in crude oil prices on world markets to increase the reserves of Iraq from foreign currency to 86 billion US dollars.

Hoshyar Abdullah, a member of the committee, said in a publication on social networking sites today that, taking advantage of high oil prices, Iraq's foreign currency reserves are expected to reach 86 billion dollars.

"Everyone knows that the main revenues of Iraq are from oil exports and with the costs of war against the organization and the existence of displacement and the consequent financial crisis and low oil prices, but it has been able to stabilize the economic situation in Iraq, especially with regard to monetary policy" .

 

It'll be a happy day to see em boast of the power of the iqd instead of the USD ...progress, thanks for the articles 6ly410

[Laid Back]

“Finance, expects to increase Iraq's reserves of foreign currency to 86 billion dollars”

 

In the second review of IMF-SBA, the IMF forecast around $92 billion dollars in foreign currency reserves by the end of 2019.

 

Go CBI

Go foreign currency reserves 

Go dinar

Go $1:1

Edited July 6, 2019 by Laid Back

[yota691]

Central Bank Governor: Iraq's revenues go to build the economies of other countries

Economy | 11:21 - 17/09/2019

 

 

 

 

BAGHDAD - Mawazine News
The Governor of the Central Bank, on the relationship, Tuesday, that the size of Iraq's reserves of foreign currency exceeds international standards, indicating that Iraq's revenues go to build the economies of other countries.
Al-Allaq said in a statement to Al-Sabah newspaper followed by (Mawazine News), that "our foreign currency reserves are comfortable and good and within international standards, but exceed the normative ratios, but according to the law is not to cover the deficit, but is a cover for the local currency," pointing out that "the government arrived To more than saturation, and that Iraq's revenues go to build the economies of other countries. "
He added that "the strength of the exchange rate and the strength of the Iraqi dinar depends on this cover, so the process of linking the reserve and cover the deficit is improper, and the law of the Central Bank does not allow the reserve to be used to lend to the government directly or indirectly, but is to maintain the value of the dinar against the dollar ".
As for the sagging government jobs among the relationship, "the government apparatus has reached more than saturation, and it does not add economic value, but that in its expenses is a great challenge to the public budget and reduces the resources that can go to occupy others and create more jobs through real projects." /s

[Butifldrm]

Rebounds Tuesday, September 17 , 2019 13:12

Relationship: Exchange rate stability is a central objective of the central bank

 

 

 

The Governor of the Central Bank of Iraq, Ali Alaq, on Tuesday, that the stability of the exchange rate is a fundamental goal of the Central Bank and seeks to achieve by all means, which depends mainly on the economic performance of Iraq.

"The stronger the economy, the stronger the exchange rate will be," Allaq said in a press statement.

"Our economy is contingent on fluctuations in oil prices, which are the main resource for the country and also the basis of foreign currency, so careful management of reserves to stabilize is important."

He continued: There can be a balance between supply and demand for foreign currency, and when supply disrupts affect the exchange rate, and the reserve we have so far is able to cover demand for the dollar, and thus keep the price under control.

https://www.thebaghdadpost.com/ar/Story/179961/العلاق-استقرار-سعر-الصرف-هو-هدف-أساسي-للبنك-المركزي

[Butifldrm]

Alak: The budget deficit is unproven and the central reserve exceeds international standards

11:12 - 17/09/2019

0

 

Information / Baghdad ..
The Governor of the Central Bank of Iraq Ali al-Allaq, Tuesday, that the amount of the budget deficit for 2020 is not yet proven as indicated by the Ministry of Finance, and what is circulating is just hypothetical figures and not yet settled, with reference to the reserve The central bank of foreign currency is comfortable and well above international standards.
Al-Allaq said in an interview with the official newspaper "Al-Sabah" and I saw it (information), that "our foreign currency reserves are comfortable and good and within international standards; it exceeds the normative ratios, but according to the law is not to cover the deficit but it is a cover for the local currency, exchange rate strength and strength The Iraqi dinar depends on this cover, so the process of linking reserves and deficit coverage is not correct.
"The central bank law does not allow the reserve to be used to lend to the government directly or indirectly, but rather to maintain the value of the dinar against the dollar," Allaq said.
And the relationship, that "the stability of the exchange rate is a central objective of the Central Bank and seeks to achieve by all means, and depends mainly on the economic performance of Iraq, the stronger the economy was to maintain the exchange rate stronger, and our economy is subject to fluctuations in oil prices, which is a resource The basis for the country, which is also the basis for the foreign currency, so careful management of reserves in order to achieve stability is important, where there can be a balance between the supply and demand of foreign currency, and when supply disrupts affect the exchange rate, and the reserve we have so far is able to The application covers And therefore keeps the price under control. ” Done / 25

https://www.almaalomah.com/2019/09/17/429317/

[soon]

sounds like arrrrrrrrrr  veeeeeeeee to me  

[yota691]

Expert: Our gold and hard currency reserves are higher than the international standard

Tuesday, October 29, 2019 287

 

Baghdad / Suha Sheikhly 

 

 

Gold is an international system and financial cover used as a basis for determining the value of paper currency, and through which to assess the currency of any country, as the countries that adopt this system, convert their currency to gold after relying on buying and selling, gold was selected for several considerations, the first of which is precious metal and stainless steel storage It is difficult to dissolve and is a pillar of crisis time.

 

Link to Sterling

The expert, the banking adviser and a member of the administrative body of the Association of Private Iraqi Banks Abdul Rahman al-Sheikhly in his interview with the "morning" says: "After July 14, 1958 the new government disengaged the Iraqi dinar from the pound sterling and the dinar has become almost existing and needs to strengthen its position."

“In all the countries of the world, the local currency must be covered with gold or hard currency that can be traded anytime, anywhere. The government then issued a decision to separate the Iraqi currency from English,” he said. Either in hard currencies or gold. ”

 

Bank Nout

At that time, Iraq tried to enter the world market through its balance of gold and hard currency. The paper, (Bank Note) is a secretariat arrived from the state to the citizen that he has the state as well as the amount.

He explained, “Therefore, this currency will not be valuable unless it has a reserve balance, and the former Iraqi citizen used (Travel Check) when traveling abroad to spend his currency with the money of that country before the monetary developments that have appeared in the world. 

Entire".

Sheikhli said that "the Central Bank of Iraq is completely independent of the state and was able to refuse to lend to the state and this is what happened when the Governor of the Central Bank of Iraq Abdul Latif al-Shawaf refused to lend Prime Minister Abdul Karim Qasim amount of money, and the situation continued to the year 2014."

He stresses that "currency reserves created to deal in times of abnormal crises going through the economy, note that our economy is subject to the controls of the International Monetary Fund and the World Bank because we are members, especially after 2003 and the regime changed from totalitarian to a market economy," pointing out that "the government was forced to In 2014, during the war against the Islamic State terrorist gangs, borrowing from the monetary reserves in accordance with the standards of the IMF and the World Bank, and coincided with the decline in oil prices, so Iraq tried to compensate by resorting to the strategic reserve in the central bank of gold and hard currency to pay the government e The amount is closer

 time".

"With great efforts, the central bank was able to recover the amounts, and the central bank now has reserves of foreign currencies and gold more than the standard required by the International Monetary Fund and the World Bank, which means that the Iraqi dinar has become a cover and is a difficult currency at present And anywhere from The globe. ”

Sheikhli pointed out that "gold prices in Iraq are the same world prices, and subject to international controls," stressing that "there is a project adopted by the Central Bank, but the legal processes to prevent its implementation is to raise three zeros from the currency". 

 

Accessories and safe

Al-Sabah met with goldsmith Abu Ali, owner of a goldsmith shop since 1981 and said: “Many families buy gold not just for decorations but it is a saving for times of need. 

And a safe. ”

He pointed out that the price of a single weight of Gulf gold caliber 21 grain is 260 thousand dinars, a kind of desirable much, while the price of weight of 18 carat 215 thousand 

Dinar".

It is noteworthy that the gold market in Baghdad is located in the street of the river, along with the cities of Karbala, Najaf, Ramadi and Fallujah, while the seasons of sale will be on holidays and joyous occasions and less in the months of Muharram and zero, as the season is scarce Selling.

[yota691]

49 minutes ago, yota691 said:

"there is a project adopted by the Central Bank, but the legal processes to prevent its implementation is to raise three zeros from the currency". 

Just Verify again that Delete three zero's is a Project...

[DWS112]

1 hour ago, yota691 said:

Sheikhli pointed out that "gold prices in Iraq are the same world prices, and subject to international controls," stressing that "there is a project adopted by the Central Bank

WILL THERE BE A GOLD BACKED CURRENCY?