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The central bank clarifies regarding the possibility of printing an Iraqi currency


Mary B
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The central bank clarifies regarding the possibility of printing an Iraqi currency

Economy | 02:09 - 29/03/2020

 
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BAGHDAD - Mawazine News
, the Central Bank of Iraq, announced on Sunday about the possibility of printing an Iraqi currency to avoid economic problems.
An authorized source in the Central Bank of Iraq told Mawazine News: "Regarding what some of the officials are talking about, some officials are responsible for the possibility of printing an Iraqi currency to avoid economic problems and so on ... with the following:
- Printing Iraqi banknotes is a routine technical procedure practiced by The central bank according to the requirements of cash circulation, and the printing of banknotes is a completely separate process from the cash issuance process ..
- No party can withdraw banknotes from the central bank unless there are funds in their accounts that cover the amount to be withdrawn. Meaning only strengthening the central bank coffers according to the management policy For criticism, and not for any other purpose or meaning .. Central Bank Act and monetary policy does not allow for the issuance of cash without a valid account balance.
- When the Ministry of Finance wishes to finance spending on different spending units and salaries, it requests the Central Bank to strengthen its account in Iraqi dinars in exchange for withdrawing from its account in dollars .. No amount is deposited into the finance account in dinars unless there is a corresponding withdrawal from its dollar account.
- The Central Bank Law does not allow it to lend to the government, whether by printing currency or any other way, direct or indirect, and it is entitled to deduct treasury transfers, if they are present in the secondary trading market, as it is one of the tools of monetary policy, if it deems it based on data Substantive objective serving the objectives of monetary policy. End 29 / A 43

 

 

https://www.mawazin.net/Details.aspx?jimare=92483

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"The central bank according to the requirements of cash circulation, and the printing of banknotes is a completely separate process from the cash issuance process .."

 

CBI, be so kind to issue the new denomination already printed!

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Central: printing currency is a “routine procedure” and differs from monetary issuance

The Central Bank of Iraq
  http://economy-news.net/content.php?id=19493
 Banks
The Economy News - Baghdad

The Central Bank of Iraq issued, on Sunday, a clarification regarding what is being circulated by news about the possibility of printing an Iraqi currency to "avoid" the economic problems that face the outbreak of the "Corona" virus.

The central bank said in a statement received by "Economy News", "The printing of Iraqi banknotes is a routine technical procedure practiced by the central bank in accordance with the requirements of cash circulation, and that the printing of banknotes is completely separate from the process of issuing cash."

The statement added, "No party can withdraw banknotes from the central bank unless there are funds in their accounts that cover the amount to be withdrawn. Therefore, the central bank law and monetary policy do not allow the issuance of cash in favor of an account without balance."

He pointed out that "when the Ministry of Finance wishes to finance spending on the various spending units and salaries, it requests the central bank to strengthen its account in Iraqi dinars in exchange for withdrawing from its account in dollars .. No amount is deposited into the finance account in dinars unless there is a corresponding withdrawal from its dollar account."

He continued, "The Central Bank Law does not allow him to lend to the government, whether by printing currency or any other way, direct or indirect, and he is entitled to deduct treasury transfers, if they are present in the secondary trading market, as it is one of the tools of monetary policy, if he deems it based On accurate objective data serving the objectives of monetary policy. "

Number of views 60 Date added: 03/29/2020

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2 hours ago, Mary B said:

When the Ministry of Finance wishes to finance spending on different spending units and salaries, it requests the Central Bank to strengthen its account in Iraqi dinars in exchange for withdrawing from its account in dollars .. No amount is deposited into the finance account in dinars unless there is a corresponding withdrawal from its dollar account.
- The Central Bank Law does not allow it to lend to the government, whether by printing currency or any other way, direct or indirect, and it is entitled to deduct treasury transfers, if they are present in the secondary trading market, as it is one of the tools of monetary policy, if it deems it based on data Substantive objective serving the objectives of monetary policy

 

So the Ministry of Finance has two (2) accounts. One in USD, the other in Bicraqi Iraqi Dinar.

 

The Ministry of Finance exchanges USD with the Bicraqi Iraqi CBI for Bicraqi Iraqi Dinar.

 

The Ministry of Finance uses the Bicraqi Iraqi Dinar to pay for different spending units AND salaries.

 

Are SALARIES being PAID???!!!

 

IF NOT, is the Ministry of Finance OUT OF USD (to send to the Bicraqi Iraqi CBI for Bicraqi Iraqi Dinar) AND/OR is THEE Bicraqi Iraqi CBI OUT OF Bicraqi Iraqi Dinar???!!!

 

IF THEE Ministry of Finance is OUT OF USD, THEN THEE Bicraqi Iraqi are in a Whirled Of Hurt AND EVERYTHING WILL GRIND TO A HALT AND THEE Bicraqi Iraqi WILL SCREAM FOR THEIR SALARIES PRONTO TONTO!!!

 

IF THEE Bicraqi Iraqi CBI is OUT OF Bicraqi Iraqi Dinar, THEN THEE Bicraqi Iraqi Dinar IS SCARCE OR GETTING THERE PRONTO TONTO AND THE PRICE OF THEE Bicraqi Iraqi Dinar WILL SOAR ACCORDINGLY!!!

 

NO PRINTING OF Bicraqi Iraqi Dinar TO PAY Bicraqi Iraqi GOVERNMENT DEBTS ACCORDING TO THEE Bicraqi Iraqi LAWS!!!

 

So, ARE THERE, pray tell, "treasury transfers, if they are present in the secondary trading market"???!!!

 

ISX for one (1) IS SHUT DOWN NOW!!!

 

CoronaVirus HAS OTHER FACETS OF THEE "secondary trading market" SHUT DOWN???!!!

 

Insanians, to INCLUDE the Insanian IRGC, AND Insanian Mu lah lahs Corruption AND Terrorism Funding Machine USING Bicraqi Iraqi "tools" SHUT DOWN, TOO???!!!

 

Check AND CHECK MATE!!!

 

HOW, pray tell, LONG IS THIS GOING TO LAST???!!!

 

!!!BOOM!!!

 

!!!SUDDENLY!!!

 

YYYEEEAAAHHH BBBAAABBBYYY!!!!!!!!!!!!!!!!!!!!!

 

Go Moola Nova!

:pirateship:

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The Ministry of Finance told “Maalouma”: printing the currency needs a decision from 4 sides and the salaries are insured

 3/31/2020
 
  
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Information / Baghdad ..
The Ministry of Finance confirmed, on Tuesday, that the salaries of employees are fully insured and there is no need to print the currency in order to pay it, noting that printing the currency needs a decision from four sides.
The Ministry's media director, Taha al-Hashemi, said in a statement to "Information", that "the news that some sites and media have circulated about printing currency without health", indicating that "printing the currency needs to issue a high-level decision from the Council of Ministers, the Advisors Authority, the Ministry of Finance and the governor of the bank Central. ”
Hashemi added, "The matter was not formally presented in cabinet meetings," noting that "employee salaries are fully insured and we do not need to print a local business to pay employee salaries." Ended / 25h

 

https://www.almaalomah.com/2020/03/31/465686/

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