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The Minister of Finance reveals the amount of the stolen Iraqi funds


yota691
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 2021-03-29 12:52
 

Shafaq News / The Minister of Finance, Muhammad Allawi revealed, on Monday, that the looted Iraqi funds amounted to $ 150 billion, indicating that Iraq's foreign debts amounted to $ 60 billion. 

 

Allawi said in a statement to "Al Sharq Bloomberg" that "Iraqi funds stolen through previous political regimes amount to $ 150 billion, and there is international aid to recover these funds."

 

He explained that "the external debt of Iraq reaches 60 billion US dollars, of which 6 billion are to Iran, which are Iranian deposits. Not all of them represent debts related to import dues for goods such as gas and fuel," indicating that a large proportion of the debts belong to financial institutions.

 

The minister pointed out that the current price of the Iraqi currency against the US dollar after reducing its value will continue for a long time, and a full float may occur in the future, but the central bank will now work to maintain the current exchange rate level for as long as possible.

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Damn if’n the people who probably made off with the all the loot are now low balling with $150 Billion- nice deflection—not so long ago articles stated they couldn’t account for some $450 ( approx.) Billion

In the land that’s more crooked than a dog’s hind leg, we’ll probably never know for certain the amount of looted spondoolies.

 

Edited by horsesoldier
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The scary part about this article is, he might be telling the truth about the rate staying at 1450 for a long time because this is how Iraq does business. Then again, what was the purpose of the Pope showing up, he should have postponed that trip. Al-Khazemi has been flying all over the world getting support to go international and now they want to keep the exchange rate at 1450 for a "long time". Another article stated that this will be for a "short period". Keeping the rate at 1450 for a long time will give the crooks more time to find a way to steal more money and then you have inflation. If inflation continues to increase and hopefully it will, they will have to increase the rate. At the end of the day it is their Country and their economy. If they want to sandbag, it will be a reflection on them. It's like they don't want their people to have anything when they have enough wealth for everyone. Only time well tell but I don't think it will be for a long time because that simply doesn't make sense if you plan to go international. This is Iraq so you never know. He also stated a full float might occur in the future. This guy is giving us the information we have been looking for!! Progress is being made so we have to hang on in there!! We just don't know the time frame!! By the way, they have already pulled in $10 trillion, how much more dinar do they need to recover is the question? Go Iraq Go RV!! 

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25 minutes ago, GreedyDinar07 said:

Progress is being made so we have to hang on in there!!

 

i like the new attitude greedy , less outward anger frustration its like someone else is writing ur post now 🤣,

good summation and on point ....... just kidding you greedy cheers & all the best dv'ers

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2 hours ago, GreedyDinar07 said:

The scary part about this article is, he might be telling the truth

Why wouldn't he be telling the truth, don't know why folks wanna call bs on it...even if they leave the rate at 1450 and give them purchasing power. Slide the decimal, give them one to one, CBI get it's cut, and move on...

 

 

 

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Finance Minister: The change in the dollar’s exchange will continue for a long time, and this is his expectation of the flotation
  
{Economist: Al Furat News} The Minister of Finance, Ali Allawi, said that the change of the dollar’s exchange rate will continue for a long time.
 

On the recent devaluation of the Iraqi dinar by the government and the Central Bank, Allawi said in a press statement that "negative expectations on commodity price levels were expected and what happened came less than expected, but it was a necessary step for years due to its importance in structuring the economy and reducing the bill to support the dinar," He explained, "The negative effects of the devaluation gradually fade away."
He added, "The current price of the Iraqi currency against the US dollar after reducing its value will continue for a long time, and a full float may occur in the future, but the central bank will now work to maintain the current exchange rate level for as long as possible."
It is noteworthy that the exchange rates of the US dollar in exchange offices and local markets in the capital, Baghdad, reach 1435 dinars for purchase, and 1445 dinars for sale.
It is noteworthy that the Central Bank of Iraq decided on 19 December to amend the exchange rate of the dollar as follows: 
1450 dinars per dollar is the purchase price of foreign currency from the Ministry of Finance.
1460 dinars per dollar the selling price of foreign currency to banks.
1470 dinars per dollar is the selling price of foreign currency to the public.
It is noteworthy that Prime Minister Mustafa Al-Kazemi said during the cabinet session held today, Tuesday, "We hope to stay away from auctions in the issue of the dollar exchange rate, as the decision was taken by the Central Bank according to a targeted vision and strategy, and we began to see the results on the growth of the cash reserve, and on the classification of Iraq. Credit internationally. "
He added, "We look forward to speeding up the passage of the federal budget law, and the paragraphs it contains that address the needs of the poorest classes, and support service projects that affect the lives of citizens."
Ammar Al-Masoudi

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Finance Minister: The change in the dollar’s exchange will continue for a long time, and this is his expectation of the flotation

  •  Time: 03/31/2021 10:07:48
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  •  Read: 8,476 times
Finance Minister: The change in the dollar’s exchange will continue for a long time, and this is his expectation of the flotation
  
{Economist: Al Furat News} The Minister of Finance, Ali Allawi, said that the change of the dollar’s exchange rate will continue for a long time.

 

On the recent devaluation of the Iraqi dinar by the government and the Central Bank, Allawi said in a press statement that "negative expectations on commodity price levels were expected and what happened came less than expected, but it was a necessary step for years because of its importance in structuring the economy and reducing the bill to support the dinar," He explained, "The negative effects of the devaluation gradually fade away."
He added, "The current price of the Iraqi currency against the US dollar after reducing its value will continue for a long time, and a full float may occur in the future, but the central bank will work now to maintain the current exchange rate level for as long as possible."
It is noteworthy that the exchange rates of the US dollar in exchange offices and local markets in the capital, Baghdad, reach 1435 dinars for purchase, and 1445 dinars for sale.
It is noteworthy that the Central Bank of Iraq decided on 19 December to amend the exchange rate of the dollar as follows: 
1450 dinars per dollar is the purchase price of foreign currency from the Ministry of Finance.
1460 dinars per dollar, the selling price of foreign currency to banks.
1470 dinars per dollar is the selling price of foreign currency to the public.
It is noteworthy that Prime Minister Mustafa Al-Kazemi said during the Cabinet session held today, Tuesday, "We hope to stay away from auctions in the issue of the dollar exchange rate. The decision was taken by the Central Bank according to a targeted vision and strategy, and we began to see the results on the growth of the cash reserve, and on the classification of Iraq Credit internationally. "
"We look forward to expediting the passage of the federal budget law, and the paragraphs it contains that address the needs of the poorest classes, and support service projects that affect the lives of citizens," he added.
Ammar Al-Masoudi

https://alforatnews.com/news/وزير-المالية-تغيير-صرف-الدولار-سيستمر-لفترة-طويلة-وهذا-توقعه-عن-التعويم

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On 3/30/2021 at 6:43 PM, yota691 said:

Why wouldn't he be telling the truth, don't know why folks wanna call bs on it...even if they leave the rate at 1450 and give them purchasing power. Slide the decimal, give them one to one, CBI get it's cut, and move on...

 

 

 

Pretty please. 

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26 minutes ago, DWS112 said:

The China Virus must share some blame in this! -JMO

Yes the "CHINA" virus.

But yet the governments around the world reward them with business dealings, contracts and lack of penalty because of all the greedy pollititions getting more pay for play. Its going to cost them big this time.

I guess this is what we all get for buying Chinese communist goods. 

Time for another break. My dander is getting rialed up again. 

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Oh well, they will eventually have civil unrest because there are Iraqi militia that is loyal to Iran talking about increasing attacks to expel the US military. Let me put it this way, the more poverty, the more crime and it will be easier for the militia to recruit new members with their propaganda. They are building 8000 schools, a massive port is being built and I want to know what currency they are going to pay these people with because it damn sure won't be with a worthless dinar. They can't borrow (or will they) so will it be paid in dollars from the oil sales? If so that will not help their reserves. Something has to give eventually. Personally I didn't expect to see a rv after the budget was passed nor will it be this year. If it doesn't happen at the beginning of next year then I will be at a lost for words. I believe Al-Khezmi will have to be the official PM before anything happens and that's just my opinion. Leaving the exchange rate at 1450 will be counter productive and I think the people will eventually protest and it will not be civil. What's the point of finishing the new CBI building. They boast about everything happening and try to paint a pretty picture but when it comes to the exchange rate they have a different report every time. Of course they are not going to tell us when, but another four years or a long time after accomplishing what they have and signing all of these MOU's is mind boggling. Iraq wants the world to wait on them hand and foot but I believe the bombs will start again if they procrastinate. Iran is already pissed because they can't steal money from the auctions....this is Iraq so anything is possible!!  

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