Parliamentary Finance and the Central Bank take an important step regarding changing the dollar exchange rate

[yota691]

 

Parliamentary Finance warns the Central Bank of the collapse of the Iraqi dinar

 

•  

 2021-06-21 04:11

 

Shafaq News/ On Monday, the Parliamentary Finance Committee warned the Central Bank of the collapse of the Iraqi dinar against the US dollar, while the government demanded to impose measures on private banks and control the market.

Committee member Muhammad Al-Shabki told Shafaq News Agency, "There are fears of the collapse of the Iraqi currency in the coming period due to the continued government confusion and the lack of control over the dinar exchange rate against the US dollar."

He added that "losing control of the exchange rate may lead to the collapse of the currency in the coming period," noting that "the government, the Ministry of Finance and the Central Bank are required to impose appropriate measures and control the market and maintain the exchange rate to avoid the collapse of the Iraqi currency."

[Inbedded HorseHead]

What a bunch of clowns, their currency is comedy gold

[rvmydinar]

3 hours ago, yota691 said:

 

Parliamentary Finance warns the Central Bank of the collapse of the Iraqi dinar

The other article was talking about " deleting 3 zeros " and this article was talking about " collapse of the iraq dinar ". This is really conflicting stories to keep the dinar investors confused and give up and sell their dinar. Oh no, i wouldn't fall for this crap. Again, i won't sell mine until the crazy ride is over.

[GreedyDinar07]

Yeap it is coming!!! After 18+ years of the same ole foolishness what else did they expect!! 

[gregp]

2 hours ago, GreedyDinar07 said:

Yeap it is coming!!! After 18+ years of the same ole foolishness what else did they expect!! 

Dang !!  You’re Old!! 😁

[horsesoldier]

DANGER WILL ROBINSON ....DANGER !!!!!

[SocalDinar]

The USD will collapse if the idiots in Washington keep spending like money is free.

[Fairways&Greens]

5 hours ago, rvmydinar said:

The other article was talking about " deleting 3 zeros " and this article was talking about " collapse of the iraq dinar ". This is really conflicting stories to keep the dinar investors confused and give up and sell their dinar. Oh no, i wouldn't fall for this crap. Again, i won't sell mine until the crazy ride is over.

They seem to conflict, but parliament is feeling pressure from the citizens regarding the perception inside Iraq that the dinar is worthless and they are losing confidence. It could continue in that direction if CBI does not act. An RV/RI would drastically change that perception in Iraq and around the world. Parliament is exactly right, the people of Iraq 🇮🇶 are tired of waiting and the people of the world 🌍 are watching and waiting. Get it done!

[Longtimelurker]

2 hours ago, SocalDinar said:

The USD will collapse if the idiots in Washington keep spending like money is free.

It will collapse regardless, It's to late. Good thing we are ready for it with the new asset backed USN👍

[SocalDinar]

36 minutes ago, Longtimelurker said:

It will collapse regardless, It's to late. Good thing we are ready for it with the new asset backed USN👍

You are right! It will collapse eventually. When ? who knows but seems like its close. My father got me into precious metals in the 70s. I've collected quite a bit over the last 50 years. He was a prepper and said it was going to collapse back then. Been waiting ever since. Truth is every fiat currency fails eventually including seashells. Paper is still paper. You need to hold  physical Gold and silver

Edited June 21, 2021 by SocalDinar

[Longtimelurker]

3 hours ago, SocalDinar said:

You are right! It will collapse eventually. When ? who knows but seems like its close. My father got me into precious metals in the 70s. I've collected quite a bit over the last 50 years. He was a prepper and said it was going to collapse back then. Been waiting ever since. Truth is every fiat currency fails eventually including seashells. Paper is still paper. You need to hold  physical Gold and silver

I couldn't say it better myself. Either Russia or Germany dumped a lot of our currency very recently.. i think we're close.

[3 bucks new rv rate]

9 hours ago, Fairways&Greens said:

They seem to conflict, but parliament is feeling pressure from the citizens regarding the perception inside Iraq that the dinar is worthless and they are losing confidence. It could continue in that direction if CBI does not act. An RV/RI would drastically change that perception in Iraq and around the world. Parliament is exactly right, the people of Iraq 🇮🇶 are tired of waiting and the people of the world 🌍 are watching and waiting. Get it done!

giving them pressure is the best solution to keep them moving faster and quickly and revaluing the iqd in order to win the confidence. come on iraq, what took you so long to rv your currency?

[screwball]

3 hours ago, 3 bucks new rv rate said:

giving them pressure is the best solution to keep them moving faster and quickly and revaluing the iqd in order to win the confidence. come on iraq, what took you so long to rv your currency?

As long as they talk about it we are good to go 

[rvmydinar]

14 hours ago, Fairways&Greens said:

An RV/RI would drastically change that perception in Iraq and around the world. 

Yep. I agree with you that RV/RI is the only solution.

[horsesoldier]

I’ll certainly be EXTREMELY happy when they finally get their poop in a group and get a globally recognized IQD ..... in order to facilitate this moving the ball down the field a bit faster: I would like to suggest lining up ALL those sand bagging S.O.Bs, introducing them to continual/hourly CLOSE ENCOUNTERS WITH CATTLE PRODs !!!

 

Not to mention it would be a helluva hoot to watch !

[yota691]

Parliamentary Finance and the Central Bank take an important step regarding changing the dollar exchange rate

Economie| 11:11 - 06/22/2021

 

 

 

 

Baghdad - Mawazine News,
the Parliamentary Finance Committee discussed, on Tuesday, the repercussions of changing the dollar exchange rate with the Central Bank, while the latter revealed the launch of an initiative worth 5 trillion in addition to contributing to moving the housing sector.
The Parliamentary Finance said in a statement received by Mawazine News, a copy of it, that it “hosted, headed by the Chairman of the Committee, Representative Haitham Al-Jubouri, and in the presence of its members and a number of members of other parliamentary committees, the Governor of the Central Bank, Mustafa Ghaleb Mikhaif, and Deputy Governor Ammar Hamad Khalaf.”
The statement added, "The periodic meeting that took place at the headquarters of the Finance Committee discussed the steps that the Central Bank promised to implement to reduce the repercussions of changing the exchange rate and its implications, and the issue of selling the currency and confronting the process of its depletion and ways to preserve and invest it properly."
He pointed out that "the committee discussed projects, plans and loans that the bank promised to implement after changing the currency exchange rate, stressing the need to adhere to those promises and the speed of their implementation, in particular those that contribute to the employment of unemployed youth and support the housing, industry and agricultural sectors, support the local product and ease restrictions and routine procedures on them."
He continued, "The committee discussed the issue of electronic connectivity between the ministries of commerce and finance and the customs and tax authorities with the Central Bank, as well as the automation of procedures at border crossings, stressing the need for the government to fulfill its duty towards this as indicated by the Finance Committee and the House of Representatives through the Budget Law for 2021."
According to the statement, the committee called on the central bank to "take the strongest and strict measures against banks that violate regulations, confirming its support for the bank in this regard, since the current period requires concerted efforts among all authorities."

The committee was directed to host the Minister of Finance to discuss what was proposed in the hosting and to discuss a number of issues that concern the economic reality of the country.
For his part, the Governor of the Central Bank provided clarification on what the bank has taken and the steps it seeks to take to reduce the negative effects of changing the exchange rate, revealing at the same time, “the launch of an initiative worth 5 trillion in addition to contributing to moving the housing sector to complete the residential complexes that were suspended, as well as The imminent issuance of bonds that enable citizens to invest their money.” Ended 29/A87

[yota691]

Parliament Finance discusses with the Governor of the Central Bank the implications of changing the exchange rate

Economie

2021-06-22 | 09:47

 

 

 

7,255 views

 

 

The Finance Committee in the House of Representatives discussed, today, Tuesday, with the Governor of the Central Bank, steps to reduce the repercussions of changing the exchange rate and its implications, while the latter indicated the launch of an initiative to move the housing sector.

The committee said in a statement, received by Alsumaria News, that it "hosted today, the governor of the Central Bank Mustafa Ghalib Scary and Deputy Governor Ammar Hamad KhalafThe steps that the Central Bank promised to implement to reduce the repercussions of changing the exchange rate and its implications, the issue of selling the currency and facing the process of its depletion and ways to preserve and invest it properly, were discussed.

 

 

 

The Finance Committee discussed, "the projects, plans and loans that the bank promised to implement after changing the currency exchange rate, as the committee stressed the need to adhere to those promises and the speed of their implementation, in particular those that contribute to the employment of unemployed youth and support the housing, industry and agricultural sectors, support the local product and ease restrictions and routine procedures on them." .

She indicated, "Examining the issue of electronic linking between the ministries of commerce and finance, the customs and tax authorities with the Central Bank, as well as the automation of procedures at border crossings, stressing the need for the government to fulfill its duty towards this, as indicated by the Finance Committee and the House of Representatives through the Budget Law for 2021."

The Finance Committee called on the Central Bank to "take the strongest and strict measures against banks that violate regulations, confirming its support for the bank in this regard, since the current period requires concerted efforts between all authorities."

The committee directed, "to host the Minister of Finance to discuss what was proposed in the hosting and to discuss a number of issues that concern the economic reality of the country."

For his part, the central bank governor provided an explanation of what the bank has taken and the steps it seeks to take to reduce the negative effects of changing the exchange rate, revealing the launch of an initiative worth 5 trillion in addition to contributing to moving the housing sector to complete the residential complexes that were suspended, as well as the imminent issuance of bonds. It enables people to invest their money.

[yota691]

 

The Iraqi Central launches an initiative of 5 trillion dinars to reduce the effects of changing the exchange rate

Central Bank of Iraq

 June 22, 2021 05:18 PM

Mubasher: The Governor of the Central Bank of Iraq, Mustafa Ghaleb Mukhif, revealed today, Tuesday, the launch of an initiative worth 5 trillion dinars. 

The Finance Committee said in a statement today, Tuesday, that it "hosted, headed by the Chairman of the Committee, Representative Haitham Al-Jubouri, and in the presence of its members and a number of members of the other parliamentary committees, the Governor of the Central Bank, Mustafa Ghaleb Mikhaif, and the Deputy Governor, Ammar Hamad Khalaf."

The statement added, "The periodic meeting that took place at the headquarters of the Finance Committee discussed the steps that the Central Bank promised to implement to reduce the repercussions of changing the exchange rate and its implications, and the issue of selling the currency and confronting the process of its depletion and ways to preserve and invest it properly." 

He pointed out that "the committee discussed the projects, plans and loans that the bank promised to implement after changing the currency exchange rate.

The committee stressed the need to adhere to those promises and the speed of their implementation, especially those that contribute to the employment of unemployed youth, support the housing, industry and agricultural sectors, support the local product and ease restrictions and routine procedures on them. 

He continued, "The committee discussed the issue of electronic connectivity between the ministries of commerce and finance and the customs and tax authorities with the Central Bank, as well as the automation of procedures at border crossings, stressing the need for the government to fulfill its duty towards this as indicated by the Finance Committee and the House of Representatives through the Budget Law for 2021."

According to the statement, the committee called on the central bank to take the strongest strict measures regarding banks that violate the controls, stressing its support for the bank in this regard, since the current period requires concerted efforts between all authorities. 
The committee directed to host the Minister of Finance to discuss what was presented in the hosting and discuss a number of issues that concern reality. economy of the country.

 

For his part, the Governor of the Central Bank provided a clarification on what the bank has taken and the steps it seeks to take to reduce the negative effects of changing the exchange rate, revealing at the same time, “the launch of an initiative worth 5 trillion in addition to contributing to moving the housing sector to complete the residential complexes that were suspended, as well as The imminent issuance of bonds that enable citizens to invest their money.”

He called for "going to the exchange outlets to receive the financial dues for the sixth installment."

[3 bucks new rv rate]

18 hours ago, screwball said:

As long as they talk about it we are good to go 

yep. we just wait and see.

[screwball]

2 hours ago, 3 bucks new rv rate said:

yep. we just wait and see.

all we can do not our show....its a nob show

[gregp]

I’m wetting me drawers. 

[screwball]

Discussing it....making a decision to do it and doing are entirely different decisions all of which are hard decisions to make when your are muppets 

[rvmydinar]

39 minutes ago, screwball said:

Discussing it....making a decision to do it and doing 

How many years does the cbi need from " discussing it , and making a decision to do it , and finally implementing it "? 18 years? 30 years? 50 years? 100 years? Dang, i guess we all are getting old and we have to hand it over to our grandchildren then.

[yota691]

The Finance Committee of the Iraqi Parliament sends an invitation to the government regarding the dollar

© REUTERS / MOHAMED AZAKIR

ARAB WORLD

GMT 11:39 23.06.2021

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Today, Wednesday, the Finance Committee of the Iraqi Parliament called on the government to return the exchange rate of the US dollar against the Iraqi dinar to its previous position. And the members of the Finance Committee noted that "the current dollar exchange rate has a significant negative impact on the lives of citizens at various levels," according to what was reported by the Iraqi "Baghdad Today" agency.

 

A member of the Finance Committee, Muhammad Al-Shabki, said: "The main justification for raising the dollar exchange rate against the Iraqi dinar is Iraq's entry into a financial and economic crisis due to international oil prices, especially there is a big difference between the current price and the price recorded in the 2021 budget."

Al-Shabki explained that "with the rise in oil prices, the Iraqi government must restore the dollar's exchange rate to its previous position, as there is no real justification for the dollar to remain high, especially since this step greatly damaged the Iraqi currency."

He also indicated that "the government of his country should quickly reconsider the matter, especially since the rise of the dollar has had a significant impact on the lives of citizens."

[yota691]

After the justifications for raising the price of the dollar were no longer .. Demands to save the citizen from the greed of traders

Economie

2021-06-23 | 04:58

 

 

 

 

Source:

Alsumaria news

 

2,703 views

 

 

Report: Alsumaria News
Financial affairs specialists recommended imposing supervisory measures to control the price of the dollar in the market, while a member of Parliamentary Finance enslaved that the exchange rate of the dollar against the dinar be changed during the current year, another confirmed that the justifications that existed for changing the exchange rate are no longer Exist, while citizens appealed to the government to return the exchange rate to its previous era and victory for the poor, demanding also to save them from the greed of traders.

Yesterday, the Finance Committee in the House of Representatives discussed, with the Governor of the Central Bank, steps to reduce the repercussions of changing the exchange rate and its implications, while the latter indicated the launch of an initiative to move the housing sector.

 

The committee said in a statement, received by Alsumaria News, that it "hosted today, the governor of the Central Bank Mustafa Ghalib Scary and Deputy Governor Ammar Hamad Khalaf The steps that the Central Bank promised to implement to reduce the repercussions of changing the exchange rate and its implications, the issue of selling the currency and facing the process of its depletion and ways to preserve and invest it properly, were discussed.

 

 

 

 

The Finance Committee discussed, "the projects, plans and loans that the bank promised to implement after changing the currency exchange rate, as the committee stressed the need to adhere to those promises and the speed of their implementation, in particular those that contribute to the employment of unemployed youth and support the housing, industry and agricultural sectors, support the local product and ease restrictions and routine procedures on them." .

 

She indicated, "Examining the issue of electronic linking between the ministries of commerce and finance, the customs and tax authorities with the Central Bank, as well as the automation of procedures at border crossings, stressing the need for the government to fulfill its duty towards this, as indicated by the Finance Committee and the House of Representatives through the Budget Law for 2021."

The Parliamentary Finance Committee recommended imposing control measures to control the price of the dollar in the market, while suggesting that the current financial policy be reconsidered.

 

 

The Rapporteur of the Parliamentary Finance Committee said: Ahmed Al-Saffar In statements to the official news agency Alsumaria News, "The government resorted to changing the dollar exchange rate as a result of the financial crisis in paying the salaries of employees and the lack of sufficient funds to cover the necessary needs, as well as the drop in oil prices at the time," noting that "the financial situation changed after the rise in oil prices that It reached $73 a barrel, and the justifications that existed for changing the exchange rate no longer exist."

 

He added: "We must take control measures to control the exchange rate of the dollar, and prevent manipulation by banks and exchange offices, especially since the Iraqi economy depends heavily on the dollar and controls the level of prices in the market."

 

He explained that "oversight by the legislative authority is carried out through hosting or interrogation, as well as by requesting special reports for exchange operations, and the most important reports are the final accounts," noting that "the final accounts do not exist from 2014 until now, and the hostings and interrogations are not achieved."

 

In the same context, Jamal Kougar, a member of the Parliamentary Finance Committee, ruled out, today, Friday, that the exchange rate of the dollar against the dinar will be changed during the current year, while indicating the possibility for the government to benefit from the rise in global oil prices to reduce the burdens on citizens.

 

Cougar said in an interview with Alsumaria News, "Talking about changing the exchange rate of the dollar against the dinar should be closed completely, at least during the current year, given that all the current budget figures are based on the current exchange rate."

 

Cougar added, "Any change in the price will affect the 30 trillion dinars included in the budget and allocated to investment projects, and any change, negatively or positively, will be affected either by the government or investors and contractors for new projects within the budget."

 

He continued, "The wise mechanism says to maintain the exchange rate for this year, and for the government to benefit from the rise in global oil prices and the state of stability that took place in the government's financial situation in order to reduce the burdens of citizens as a result of changing the exchange rate," adding that "the change in the exchange rate will be next year." .
 

Cougar stressed that "the only practical and feasible step to reduce the exchange rate of the dollar against the dinar is to approach the House of Representatives to the Central Bank in this regard and not reduce it within the budget because it is not within the competence of the House of Representatives."

 

For his part, a member of the Parliamentary Committee on Economy and Investment Mazen Al-FailiHe referred to the previous justifications by which the exchange value of the dollar was raised against the dinar, even though it was rejected by us, as it has also disappeared now after the rise in global oil prices.

 

Al-Faili said in an interview with Alsumaria News, "Voices began to rise in the House of Representatives to pressure the government in order to restore the exchange rate to what it was previously, because of the harm inflicted on the Iraqi people from the high prices in the markets," noting that "the insistence of the Minister of Finance and the government to Not changing the exchange rate on the pretext that it causes a big problem is surprising, given that it was originally the increase in the exchange rate that caused a big problem for the street and the citizen, and not the other way around."

 

Al-Faili added, "If some claim that the budget is based on the new exchange rate, the budget is still in the corridors of the House of Representatives, and it is possible within a day or two to change all the financial values in it according to the old exchange rate without any problem or dilemma," pointing out that "Parliament worked to pressure expenditures, which resulted in reducing the deficit ratio from 71 trillion dinars to approximately 27 trillion dinars, which made the budget appropriate and natural as it was in previous years, which gives another justification and motive not to change the exchange rate to 1450, but rather to return to the old exchange rate."

 

Oil prices rose, after industry data showed that US crude stocks fell more than expected, bolstering views of a tightening balance between supply and demand as land and air travel rebounded in Europe and North Amarica.

Brent crude futures jumped 42 cents, or 0.6 percent, to $75.23 a barrel, at 05:07 GMT, after losing 9 cents last Tuesday.

 

While citizens appealed to the government and parliament to change the exchange rates as a result of the rise in food and consumer prices that decimated the poor citizen, they also demanded to take into account those with limited income and save the citizen from the greed of traders.

 

Earlier, resolved Central Bank of Iraq Questioning the dollar exchange rate, as it confirmed the stability of the dollar exchange rate and the absence of any intentions to change it.

 

The bank said in a statement received by Alsumaria News, "What is being circulated is not true, as the price chosen at the end of 2020 for the dollar exchange was based on in-depth studies of the requirements of the economic and financial situation and the objectives of monetary policy."

 

The statement indicated that "its foreign currency sales are based on the stability of its foreign reserves at excellent levels, as those sales were increased to meet all legitimate requests," explaining: "The price will stabilize as a result of the measures taken by the Central Bank recently and which it will take."