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The World Bank proposes to raise the exchange rate of the dollar against the Iraqi dinar


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The World Bank proposes to raise the exchange rate of the dollar against the Iraqi dinar

Posted: 14.04.2021 | 18:07 GMT |Arab world news

The World Bank proposes to raise the exchange rate of the dollar against the Iraqi dinarThe World Bank headquarters in Washington

 

The Deputy Governor of the Central Bank of Iraq, Ihsan Al-Yasiri, revealed today, Wednesday, a proposal submitted by the World Bank to amend the exchange rate of the dollar to 160 thousand Iraqi dinars per 100 dollars.

He said in a press statement, "One of the demands of the World Bank during negotiations to raise the exchange rate of the dollar is to reform the public financial departments, which are taxes, customs and levies, and finance part of the financial savings achieved for the benefit of the vulnerable classes."

He added, "The World Bank has suggested to the Central Bank of Iraq to amend the dollar exchange rate to 160 thousand dinars per 100 dollars, as it is the real price that the local market can settle upon, compared to neighboring countries."

Al-Yasiri pointed out that "the Central Bank, through its study of the market and the living situation, found that the current value of the exchange rate is 145 thousand suitable, and has actually achieved the desired results in monetary policy."

The government of Mustafa Al-Kazemi raised the exchange rate of the dollar from 122 thousand to 145 thousand dinars per 100 US dollars to face the financial crisis it is facing.

A few days ago, Al-Kazemi refused to reduce the exchange rate of the dollar against the Iraqi dinar.

 

Source: "Conscious" + RT

https://arabic.rt.com/middle_east/1221738-البنك-الدولي-يقترح-رفع-سعر-صرف-الدولار-أمام-الدينار-العراقي/

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1 hour ago, pokerplayer said:

Thxs Mary B. 


Mary’s Back - Back Again ! B) 

 

Guess Who Is Back Shady GIF - GuessWhoIsBack Shady GIFs
 

Yes, She’s The Real Mary - The Others Are Quite Contrary ...

 

 

And That Clown’s Too Frickin’ Scary ...  :o 

 

image.gif.d66ae2488cc5eb5f8079e3b51b7581f8.gif
 

:D  :D  :D 

 

Edited by DinarThug
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14 minutes ago, GreedyDinar07 said:

Like I stated in the other post, how can you guys expect a RV with all of the bombings happening?

Well consider the USA.  We had violent shootings this week.  We have antifa destroying certain cities.  Looting and burning.  Yet the U.S. dollar IS worth something is it not?  The middle east I am afraid to say is used to bombings.  It is a way of life there.  If there was a bombing in USA that would be different as we are not accostomed to those kinds of things.  That would affect our economy.  But not Iraq imo.

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20 minutes ago, GreedyDinar07 said:

Like I stated in the other post, how can you guys expect a RV with all of the bombings happening?

May be the bombings are the way the ordinary iraqi citizens protest to the government because the ordinary iraqi citizens think the iraqi government doesn't care about them.

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Posted (edited)

Dr. Saleh on the rise in the dollar exchange: sacrificing a side of the central bank’s reserves would allow price stability and ensure the stability of the standard of living




14th April, 2021

 


The economic expert and financial advisor to the Prime Minister, Dr. Mazhar Saleh, said about the possibility of a rise in the dollar exchange rate against the dinar that the rise in prices at a rate of 4.5% affects the consumer's livelihood, but it is not dangerous, considering that the fear is from the accumulation of inflationary expectations from the side of the forces generating inflationary expectations, namely the exchange rate speculators.

In an interview with the obelisk, Saleh considered that it is natural that imported goods and services have increased by reducing the exchange rate of the Iraqi dinar, as the decrease reached about 23% ؜, but there are services and local goods (including government) such as fuel, electricity, and others, which remained constant in price.
The economic consultant, known for his accurate readings, continued that the lease contracts remained stable, making the annual inflation rate measured last month moderate compared to the low exchange rate, as the consumer price index in Iraq recorded an annual increase of 4.5% after it remained throughout the three years. The past is stable and with small annual rises between 1% ؜ and sometimes less,and I call it zero inflation.
The Deputy Governor of the Central Bank of Iraq, Ihsan Shamran Al-Yasiri, said, Tuesday, April 13, 2021, that the World Bank had proposed to Iraq to amend the exchange rate of the dollar to 160 thousand dinars per 100 dollars, as it is the real price.
Dr. Salih added: The price increase at a rate of 4.5% ؜ affects the consumer's livelihood, but it is not dangerous, but the fear of the accumulation of inflationary expectations on the part of the forces that generate inflationary expectations, which are the speculators at the exchange rate, which makes monetary policy obliged to meet the super-demand for foreign currency from The window of the central bank or auction and maintaining a fixed exchange rate of 1450 dinars / dollar.
He continued: Defending stability on this price is through the policy of continuous intervention and sacrifice of a side of the central bank’s foreign currency reserves to ensure that inflation remains within the goal of the one-decimal place in order to achieve stability and stability in the standard of living
And Saleh considered that this is consistent with the monetary policy objectives in achieving stability in the general level of prices and preserving the purchasing power of the monetary income, which is denominated in the Iraqi dinar.
The Deputy Governor of the Central Bank of Iraq had said that "one of the demands of the World Bank during the negotiations to raise the exchange rate of the dollar is to reform the public financial departments, which are taxes, customs, levies and financing part of the financial savings achieved for the benefit of the vulnerable classes."
In the context of urgent solutions, the ration card items must be improved to reduce the damage caused by adjusting the exchange rate, according to economic experts.  

https://almasalah.com/ar/news/207972/%D8%A7%D9%84%D8%AF%D9%83%D8%AA%D9%88%D8%B1-%D8%B5%D8%A7%D9%84%D8%AD-%D8%AD%D9%88%D9%84-%D8%A7%D8%B1%D8%AA%D9%81%D8%A7%D8%B9-%D8%B5%D8%B1%D9%81-%D8%A7%D9%84%D8%AF%D9%88%D9%84%D8%A7%D8%B1-%D8%A7%D9%84%D8%AA%D8%B6%D8%AD%D9%8A%D8%A9-%D8%A8%D8%AC%D8%A7%D9%86%D8%A8-%D9%85%D9%86-%D8%A7%D8%AD%D8%AA%D9%8A%D8%A7%D8%B7%D9%8A%D8%A7%D8%AA-%D8%A7%D9%84%D8%A8%D9%86%D9%83-%D8%A7%D9%84%D9%85%D8%B1%D9%83%D8%B2%D9%8A-%D9%8A%D8%AA%D9%8A%D8%AD-%D8%AB%D8%A8%D8%A7%D8%AA-%D8%A7%D9%84%D8%B3%D8%B9%D8%B1-%D9%88%D9%8A%D8%B6%D9%85%D9%86-%D8%A7%D8%B3%D8%AA%D9%82%D8%B1%D8%A7%D8%B1-%D9%85%D8%B3%D8%AA%D9%88%D9%89-%D8%A7%D9%84%D9%85%D8%B9%D9%8A%D8%B4%D8%A9

Edited by Mary B
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19 hours ago, screwball said:

Us troop pull out will be on the condition that they have a permanent base, and are pegged to usd like Kuwait was for a number of years! 

good info Thanks SB

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On 4/17/2021 at 10:30 AM, DinarThug said:

LINK

Dr. Saleh on the rise in the dollar exchange: sacrificing a side of the central bank’s reserves would allow price stability and ensure the stability of the standard of living

 

image.jpeg.31cd9a5e56f2cca47dd9789b260bea44.jpeg

 

14th April, 2021


The economic expert and financial advisor to the Prime Minister, Dr. Mazhar Saleh, said about the possibility of a rise in the dollar exchange rate against the dinar that the rise in prices at a rate of 4.5% affects the consumer's livelihood, but it is not dangerous, considering that the fear is from the accumulation of inflationary expectations from the side of the forces generating inflationary expectations, namely the exchange rate speculators.

In an interview with the obelisk, Saleh considered that it is natural that imported goods and services have increased by reducing the exchange rate of the Iraqi dinar, as the decrease reached about 23% ؜, but there are services and local goods (including government) such as fuel, electricity, and others, which remained constant in price.

The economic consultant, known for his accurate readings, continued that the lease contracts remained stable, making the annual inflation rate measured last month moderate compared to the low exchange rate, as the consumer price index in Iraq recorded an annual increase of 4.5% after it remained throughout the three years.

The past is stable and with small annual rises between 1% ؜ and sometimes less, and I call it zero inflation.

The Deputy Governor of the Central Bank of Iraq, Ihsan Shamran Al-Yasiri, said, Tuesday, April 13, 2021, that the World Bank had proposed to Iraq to amend the exchange rate of the dollar to 160 thousand dinars per 100 dollars, as it is the real price.

Dr. Salih added: The price increase at a rate of 4.5% ؜ affects the consumer's livelihood, but it is not dangerous, but the fear of the accumulation of inflationary expectations on the part of the forces that generate inflationary expectations, which are the speculators at the exchange rate, which makes monetary policy obliged to meet the super-demand for foreign currency from The window of the central bank or auction and maintaining a fixed exchange rate of 1450 dinars / dollar.

He continued: Defending stability on this price is through the policy of continuous intervention and sacrifice of a side of the central bank’s foreign currency reserves to ensure that inflation remains within the goal of the one-decimal place in order to achieve stability and stability in the standard of living. 
 

And Saleh considered that this is consistent with the monetary policy objectives in achieving stability in the general level of prices and preserving the purchasing power of the monetary income, which is denominated in the Iraqi dinar.

The Deputy Governor of the Central Bank of Iraq had said that "one of the demands of the World Bank during the negotiations to raise the exchange rate of the dollar is to reform the public financial departments, which are taxes, customs, levies and financing part of the financial savings achieved for the benefit of the vulnerable classes."

In the context of urgent solutions, the ration card items must be improved to reduce the damage caused by adjusting the exchange rate, according to economic experts.

 

5 hours ago, Mary B said:

Dr. Saleh on the rise in the dollar exchange: sacrificing a side of the central bank’s reserves would allow price stability and ensure the stability of the standard of living




14th April, 2021

 


The economic expert and financial advisor to the Prime Minister, Dr. Mazhar Saleh, said about the possibility of a rise in the dollar exchange rate against the dinar that the rise in prices at a rate of 4.5% affects the consumer's livelihood, but it is not dangerous, considering that the fear is from the accumulation of inflationary expectations from the side of the forces generating inflationary expectations, namely the exchange rate speculators.

In an interview with the obelisk, Saleh considered that it is natural that imported goods and services have increased by reducing the exchange rate of the Iraqi dinar, as the decrease reached about 23% ؜, but there are services and local goods (including government) such as fuel, electricity, and others, which remained constant in price.
The economic consultant, known for his accurate readings, continued that the lease contracts remained stable, making the annual inflation rate measured last month moderate compared to the low exchange rate, as the consumer price index in Iraq recorded an annual increase of 4.5% after it remained throughout the three years. The past is stable and with small annual rises between 1% ؜ and sometimes less,and I call it zero inflation.
The Deputy Governor of the Central Bank of Iraq, Ihsan Shamran Al-Yasiri, said, Tuesday, April 13, 2021, that the World Bank had proposed to Iraq to amend the exchange rate of the dollar to 160 thousand dinars per 100 dollars, as it is the real price.
Dr. Salih added: The price increase at a rate of 4.5% ؜ affects the consumer's livelihood, but it is not dangerous, but the fear of the accumulation of inflationary expectations on the part of the forces that generate inflationary expectations, which are the speculators at the exchange rate, which makes monetary policy obliged to meet the super-demand for foreign currency from The window of the central bank or auction and maintaining a fixed exchange rate of 1450 dinars / dollar.
He continued: Defending stability on this price is through the policy of continuous intervention and sacrifice of a side of the central bank’s foreign currency reserves to ensure that inflation remains within the goal of the one-decimal place in order to achieve stability and stability in the standard of living
And Saleh considered that this is consistent with the monetary policy objectives in achieving stability in the general level of prices and preserving the purchasing power of the monetary income, which is denominated in the Iraqi dinar.
The Deputy Governor of the Central Bank of Iraq had said that "one of the demands of the World Bank during the negotiations to raise the exchange rate of the dollar is to reform the public financial departments, which are taxes, customs, levies and financing part of the financial savings achieved for the benefit of the vulnerable classes."
In the context of urgent solutions, the ration card items must be improved to reduce the damage caused by adjusting the exchange rate, according to economic experts.  

https://almasalah.com/ar/news/207972/%D8%A7%D9%84%D8%AF%D9%83%D8%AA%D9%88%D8%B1-%D8%B5%D8%A7%D9%84%D8%AD-%D8%AD%D9%88%D9%84-%D8%A7%D8%B1%D8%AA%D9%81%D8%A7%D8%B9-%D8%B5%D8%B1%D9%81-%D8%A7%D9%84%D8%AF%D9%88%D9%84%D8%A7%D8%B1-%D8%A7%D9%84%D8%AA%D8%B6%D8%AD%D9%8A%D8%A9-%D8%A8%D8%AC%D8%A7%D9%86%D8%A8-%D9%85%D9%86-%D8%A7%D8%AD%D8%AA%D9%8A%D8%A7%D8%B7%D9%8A%D8%A7%D8%AA-%D8%A7%D9%84%D8%A8%D9%86%D9%83-%D8%A7%D9%84%D9%85%D8%B1%D9%83%D8%B2%D9%8A-%D9%8A%D8%AA%D9%8A%D8%AD-%D8%AB%D8%A8%D8%A7%D8%AA-%D8%A7%D9%84%D8%B3%D8%B9%D8%B1-%D9%88%D9%8A%D8%B6%D9%85%D9%86-%D8%A7%D8%B3%D8%AA%D9%82%D8%B1%D8%A7%D8%B1-%D9%85%D8%B3%D8%AA%D9%88%D9%89-%D8%A7%D9%84%D9%85%D8%B9%D9%8A%D8%B4%D8%A9

 

LINK

Advisor to the Prime Minister reveals the budget materials that will be challenged by the government


image.png.46c1bdf1bf7ba6eceec733cc15b0561f.png
 
 
04/18/2021 14:18:22
 
 
The Prime Minister’s Adviser for Financial Affairs, Mazhar Muhammad Salih, revealed the articles that the government will challenge in the fiscal budget law for 2021.

 
"The two most prominent points that will be included in government appeals to the budget are the health sector and electricity," Saleh told Al-Furat News. 

 

He continued: "Laws that do not suspend the articles of the budget law after its publication in the official gazette except for a party that has the authority to suspend some articles of the law, and it is the federal judiciary, which usually decides in such a case based on a complaint that the government submits to the Federal Court to challenge some of the articles that led to the disruption of some of the powers of the authority."

Implementation and public policy."

And he added: “The ruling on the appeal here is the Federal Court’s decision, which is final, binding and enforceable,” indicating that “this is what was customary in a judicial precedent in which the government challenged some articles of the Federal Budget Law in 2015 and in 2016, and the court approved on government appeals cases of some of the materials at the time." 
Today, Sunday, the official Al-Waqi’a newspaper published the text of the fiscal budget law for 2021, to be officially implemented.

It is noteworthy that Prime Minister Mustafa Al-Kazemi announced the government's intention to challenge some of the budget's paragraphs for amendments to be made by Parliament.

###################

Advisor to the Prime Minister reveals the budget materials that will be challenged by the government  LINK 

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Central Bank Governor opens the headquarters of the Iraqi Deposit Insurance Corporation 1618826220111

 

Central Bank Governor opens the headquarters of the Iraqi Deposit Insurance Corporation

 

2021-04-20 09:00

Shafaq News / The Governor of the Central Bank of Iraq, Mustafa Ghaleb Makhaif, opened the new headquarters of the Iraqi Company for Deposit Insurance.
The governor said that the company will contribute to restoring confidence in the private banks operating in Iraq, stressing that the Central Bank will pay attention to this company as it is one of the pillars of the banking business.
He explained that the public and private banking sector actively participated in establishing this company to become one of the pioneering institutions supporting and supporting the banking business.
It is noteworthy that the Iraqi Deposit Insurance Company provides a cover to guarantee public deposits with Iraqi banks licensed by the Central Bank of Iraq inside Iraq, especially small depositors.
 
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The governor of the bank inaugurates the headquarters of the Iraqi Deposit Insurance Corporation and announces its most prominent tasks

upload_1618826915_1648296661.jpg
 

BAGHDAD
- The Central Bank of Iraq announced today, Monday, the opening of the headquarters of the Iraqi Deposit Insurance Corporation, while stressing that this company is one of the leading institutions in banking.
The bank’s media office said, in a statement received by the Iraqi News Agency (INA), that "the Governor of the Central Bank of Iraq, Mustafa Ghaleb Makhif, opened today the headquarters of the new Iraqi company to guarantee deposits."
The governor stressed during the opening that "the company will contribute to restoring confidence in the private banks operating in Iraq," noting that "the central bank will pay attention to this company as it is one of the pillars of the banking business."
He added that "the public and private banking sector actively participated in establishing this company to become one of the pioneering institutions supporting and supporting the banking business."
It is noteworthy that the Iraqi Deposit Insurance Company provides a cover to guarantee public deposits with Iraqi banks licensed by the Central Bank of Iraq inside Iraq, especially small depositors.

 

 

https://www.ina.iq/123990--.html

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The opening of the headquarters of the Iraqi company to guarantee deposits

 04/19/2021 

The opening of the headquarters of the Iraqi company to guarantee deposits
  
{Economist: Al-Furat News} The governor of the Central Bank of Iraq, Mustafa Ghaleb Makhaif, inaugurated, on Monday, the headquarters of the new Iraqi deposit insurance company.

Al-Mukhtasar al-Mufid .. In important news, you can find it on the Al Furat News channel on the Telegram .. To subscribe, click here

"The company will contribute to restoring confidence in the private banks operating in Iraq," the governor said in a statement that Al Furat News received, stressing that "the Central Bank will pay attention to this company as it is one of the pillars of the banking business."
He explained that "the public and private banking sector actively participated in establishing this company to become one of the pioneering institutions supporting and supporting banking in the banking sector."
It is noteworthy that "the Iraqi Deposit Insurance Corporation provides a cover to guarantee public deposits with Iraqi banks licensed by the Central Bank of Iraq inside Iraq, especially small depositors."

Forgiveness Al-Khalidi

 

 

https://alforatnews.com/news/إفتتاح-مقر-الشركة-العراقية-لضمان-الودائع

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Posted (edited)

Today ... the central bank’s hard currency sales fell by 2.7 percent

20/04/2021

 
image
 
 

 

BAGHDAD - Mawazine News
The Central Bank of Iraq’s hard currency sales fell, on Tuesday, to $ 203 million.
The Central Bank’s auction for the sale and purchase of foreign currencies today witnessed a decrease in sales by 2.7 percent to reach 203 million and 654 thousand and 124 dollars, covered by the bank at a base exchange rate of 1460 dinars per dollar.
The purchases amounting to 185 million 444 thousand and 124 dollars went to strengthen the assets abroad in the form of transfers and appropriations, while the banks bought 18 million and 210 thousand dollars in cash.
Thirty-one banks responded to requests to enhance assets abroad, 18 banks to fulfill cash requests, and 18 participating exchange companies.
This was the central bank sales of hard currency yesterday, Monday, has reached 209 million and 454 thousand and 659 dollars. Ended 29 / p4

 

https://www.mawazin.net/Details.aspx?jimare=150366

Edited by Mary B
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