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Allawi from Dubai: The white paper achieved impressive results, including overcoming the financial collapse


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Allawi from Dubai: The white paper achieved impressive results, including overcoming the financial collapse
 

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{Economic: Al Furat News} Minister of Finance, Ali Abdul Amir Allawi, said that the white paper had achieved impressive results, including overcoming the financial collapse "in the country."

A statement by the ministry, which the agency {Euphrates News} received a copy of, stated that Allawi “was inaugurated on the occasion of the Iraqi National Day today, Friday, at the Expo 2020 in the sisterly United Arab Emirates, and the Iraqi delegation included the Minister of Trade, the Governor of the Central Bank, the head of the Investment Authority, a number of ministries’ undersecretaries and advisors to the Prime Minister.” .
In a speech on the occasion, Allawi said, "The government program and the sustainable development plan, which aimed at investing in people, modern technology and work institutions to create added values, has become the main cause of poverty and epidemics, reducing disparities in living standards, climatic changes and water pollution. Therefore, it is necessary to work seriously to sustain life in our country and ensure enjoyment of life." society in peace and prosperity by 2030 through partnership between the public and private sectors.
He added, "The white reform paper was launched to correct structural distortions in the economy, the labor market, and in financial and monetary policies, and during its second year, despite the challenges, it achieved impressive results, which is to overcome the financial collapse and global indebtedness and achieve a cash surplus that will be a base for starting towards addressing the deterioration that affected the productive economic sectors."
Allawi also stressed that "the reform paper stressed the need to rebuild all sectors and in various fields, whether leadership, administrative, humanitarian and personal. Technological skills occupied a large part of the government's concerns, such as digitization and automation of systems and the application of the ESCWADA system, which is one of the modern systems to strengthen reform measures to improve performance Financial institutions, including the collection of customs taxes at ports and border crossings.
And he stated, "Our participation in this civilized platform in Dubai for the year 2021 provides us with many opportunities to benefit from the outputs of science, technology and artificial intelligence in particular, and opens new horizons in the world of economy and education, and stimulates talent and entrepreneurship."

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We have always enjoyed and respected reading Mr. Laid Back's prospective of this situation. He seems to find a positive way of highlighting the benefits for the Iraqi people and the Dinar, on whatever the topic. Only a couple of times did he seem depressed, like most of us, when something really stupid happened. We do appreciate his point of view. Please post Mr. Laid back, when you get that gut feeling that something is about to start. We will trust your intuition on this, before anyone else's. You know, with the trillions and trillions and trillions and trillions of unearned trash dollars being puked into the world this past year, we might not want to 'cash in' our dinar, for a worthless usd. Man, I'll be glad when this thing hits ! 

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#stillbelieve,,,, 

You might not want to cash it in for the US dollar if it ever does RV. I am thinking that if a guy exchanges in for US dollars and buy gold with that US dollars that way when the dollar tanks because our current administration drove the dollar into the crapper. At least I will have gold.  Precious metal is better than worthless paper. 

But that is when or if this thing ever pops. We always hear that this is going to be the year. Well not always but have heard it for at least the last 8 to 10 yrs. 😁

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Allawi: The White Paper is a 100% Iraqi project, and we need alternative resources for oil
 
10:02 - 11/12/2021Allawi.jpg
Baghdad - Mawazine News
Finance Minister Ali Allawi stressed, today, Saturday, that Iraq needs a radical reform of the economic management system to face challenges, including the decline in oil prices, warning that many industrialized countries have begun planning to use alternative energy instead of oil, and this is a dangerous matter for the Iraqi economy over time if it is not available. alternative oil resources.
Allawi said, "There was financial abundance between the years 2009-2013, but on the other hand, there were no clear economic policies, as financial resources were transferred from oil sales to government appointments."
He added, "The increase in employee salary entitlements and contracting due to the financial abundance, put pressure on the state's finances due to the decline in oil prices."
He added that "investment spending in Iraq is large after 2003, but it was not in accordance with the regulations, and most projects were motivated by personal or sectoral motives, not economic projects."
He pointed out that "there is a great waste and misuse of resources more than theft or corruption, and incompetent people presented projects and managed by unqualified people, and there are huge resources spent on projects, but their economic impact is small."
He pointed out that "there are hospital projects that were approved after the year 2011, but were not completed, and some of them did not have allocations, and the specialists withdrew and some benefited, and structures remained," noting as well that "small projects in most cases are more beneficial to the economy than major projects."
Regarding the white paper on economic reform, Allawi explained that "the white paper is a 100% Iraqi project, the goal of which is to strengthen the capabilities of the state, that the white paper began with reforming the state's public administration and then reforming the country's finances."
And on the available capabilities and how to invest them, Allawi said, "Iraq can benefit from its geographical situation to be a crossing through the implementation of ports and highways linked to railways, and industrial projects, and Iraq needs a radical reform of the economic management system to face challenges, including the decline in oil prices."
And he warned that "the Iraqi economy is based entirely on oil revenues at a rate of 95 percent, and in the last two years the economies of the major and industrialized countries began looking for an alternative to oil, and this is a danger to us, and alternative oil resources must be found to counter this decline. The Gulf countries have financial investments worth two trillion dollars to face the risk of decline." Oil prices.
He pointed out that "the state's spending is large, but in return it needs additional resources, for example, not paying electricity bills by citizens costs the state 15 trillion dinars annually."
He stressed that "Iraq possesses economic human capabilities and a vision that diagnoses challenges and lays down the means for economic stability."
And on the history of the Iraqi currency, Allawi confirmed that "the dinar currency was adopted in Iraq at the beginning of the twenties of the last century, and each dinar was equivalent to 4.80 dollars, the dinar was backed by gold." Ended 29 / p. 87
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5 hours ago, HowieC said:
"the dinar currency was adopted in Iraq at the beginning of the twenties of the last century, and each dinar was equivalent to 4.80 dollars

Wow Allawi talked about the rate in the glory days. Did he intent to return the rate to 1 IQD=USD 4.80? :praying: But, i amn't going to get my hope up yet until i see it with my own eyes.

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https://dinarvets.comhttps://dinarvets.com/forums/index.php?/topic/291277-allawi-from-dubai-the-white-paper-achieved-impressive-results-including-overcoming-the-financial-collapse/&do=findComment&comment=2266346/forums/index.php?/topic/291277-allawi-from-dubai-the-white-paper-achieved-impressive-results-including-overcoming-the-financial-collapse/&do=findComment&comment=2266346

 

 

 

Thanks LB- I needed that. I lost 2 million to some thief at dinarcurrencyinc....and 3of my 5 mistakenly left in a suitcase stolen by the management of a scrupulous storage unit facility in Connecticut in June 2020 (that's a lawsuit building as we speak)... Hopefully Iraq reimburses depositors as they say they will - which they have the power and strength to do...

 

Things are definitely progressing- and I hope all of those on need benefit once the playing field is evened out. 

 

This article reaps of optimism as its written in the past tense... now we just have to catch up to it~

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 2021-12-12 02:13
 

Shafaq News/ His Excellency the Governor of the Central Bank of Iraq, Mustafa Ghaleb Mokhif, inaugurated today, Sunday, the activities of the Iraqi Banking Week in the Iraq Pavilion at Dubai Expo 2020.

The events were launched in the presence of the head of the Arab Monetary Fund, Abdul Rahman Al-Hamidi, the head of the Association of Iraqi Private Banks, Wadih Al-Handal, a number of general managers of the Central Bank, and heads of bank boards.

The Governor of the Central Bank said, in a speech during the launching ceremony of the events, that: The launch of the Banking Week activities in the Iraq pavilion contributes greatly to the openness of the Iraqi banking sector to the Arab and international world, adding that the supervision of the Central Bank contributed significantly to the development of the banking sector.

He explained that there are many Iraqi banks that began expanding outside Iraq, and this is what made them obtain good ratings by the competent financial institutions, indicating that Iraq today has become an attractive arena for investments and requires an effective banking sector to keep pace with these investments.

The governor noted that all indicators of the Iraqi banking sector are on the rise, and this is a good indicator for the outside world, of the need to open up prospects for cooperation with the Iraqi banking sector.

On the other hand, the head of the Arab Monetary Fund, Abdul Rahman Al-Hamidi, praised the central bank's policy that contributed to the development of the banking sector.

Al-Hamidi said that the Governor of the Central Bank of Iraq, Chairman of the Board of Governors of the Arab Monetary Fund, Mustafa Ghaleb, is now working to ensure the openness of the Iraqi banking sector to Arab and foreign banks.

In turn, the head of the Iraqi Private Banks Association, Wadih Al-Handal, said that the event of the Iraqi Banks Week in the Dubai Expo represents an important sign, and a very strong start, to revitalize banking relations with the outside world, noting that the banking sector today represents a major point in the development of the country's economy.

He pointed out that the participation of banks and electronic payment companies in the activities of the Banking Week represents a strong and clear message to the world, that Iraq today is witnessing an openness carried out by the private sector, and the state must protect it and facilitate its tasks.

It is noteworthy that the Iraqi Banks Week, at Expo 2020 Dubai, includes many banking activities, informing the public about the banking services provided by banks, in addition to holding bilateral meetings between Iraqi banks and banks operating in the United Arab Emirates.

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Photos: The Central Bank opens the activities of the Iraqi Banking Week at Expo Dubai
 

  

Baghdad - people  

The Governor of the Central Bank, Mustafa Ghaleb Makheeb, inaugurated, on Sunday, the activities of the Iraqi banking week in the Iraq pavilion at the Dubai Expo 2020, in the presence of the head of the Arab Monetary Fund, Abdul Rahman Al-Hamidi, the head of the Association of Iraqi Private Banks, Wadih Al-Handal, and a number of general managers of the Central Bank and heads of bank boards.  

  

  

  

In a statement received by "Nass", a copy of it, (12 December 2021), "the launch of the Banking Week activities in the Iraq pavilion contributes greatly to the openness of the Iraqi banking sector to the Arab and international world," he said.  

  

He added that "the supervision of the Central Bank contributed significantly to the development of the banking sector."  

  

He explained that "there are many Iraqi banks that began to expand outside Iraq, and this is what made them obtain good ratings by the competent financial institutions," noting that "Iraq today has become an attractive arena for investments and requires an effective banking sector to keep pace with these investments."  

He pointed out frighteningly, "All indicators of the Iraqi banking sector are constantly escalating, and this is a good indicator for the outside world, of the need to open up prospects for cooperation with the Iraqi banking sector."  

  

For his part, the head of the Arab Monetary Fund, Abdul Rahman Al-Hamidi, praised the central bank's policy, which contributed to the development of the banking sector.  

  

Al-Hamidi said, "The Governor of the Central Bank of Iraq, Chairman of the Board of Governors of the Arab Monetary Fund, Mustafa Ghaleb, is now working to ensure the openness of the Iraqi banking sector to Arab and foreign banks, indicating that we commend the measures taken by the Central Bank of Iraq."  

  

On the other hand, the head of the Association of Iraqi Private Banks, Wadih Al-Handal, said, "The event of the Iraqi Banks Week in the Dubai Expo represents an important sign, and a very strong start, to revitalize banking relations with the outside world," noting that the banking sector today represents a major point in the development of country's economy.  

  

He noted that "the participation of banks and electronic payment companies in the activities of the Banking Week represents a strong and clear message to the world, that Iraq today is witnessing an openness carried out by the private sector, and the state must protect it and facilitate its tasks."  

  

It is noteworthy that the Iraqi Banks Week, at Expo 2020 Dubai, includes many banking activities, informing the public about the banking services provided by banks, in addition to holding bilateral meetings between Iraqi banks and banks operating in the United Arab Emirates.  

  

  

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Sunday, December 12, 2021 10:26 AM

Baghdad/National News Center

Today, Sunday, the Governor of the Central Bank of Iraq, Mustafa Ghaleb Mokhif, inaugurated the activities of the Iraqi Banking Week at the Iraq Pavilion at Expo 2020 Dubai.

The events were launched in the presence of the head of the Arab Monetary Fund, Abdul Rahman Al-Hamidi, the head of the Association of Iraqi Private Banks, Wadih Al-Handal, a number of general managers of the Central Bank, and heads of bank boards.

The Governor of the Central Bank said, "The launch of the Banking Week activities in the Iraq Pavilion contributes greatly to the openness of the Iraqi banking sector to the Arab and international world," adding that the supervision of the Central Bank "contributed significantly to the development of the banking sector."

He explained that "there are many Iraqi banks that have begun to expand outside Iraq, and this is what made them obtain good ratings by the competent financial institutions," noting that Iraq today has become an attractive arena for investments and requires an effective banking sector to keep pace with these investments.

The governor noted that "all indicators of the Iraqi banking sector are on the rise, and this is a good indicator for the outside world, of the need to open up prospects for cooperation with the Iraqi banking sector."

On the other hand, the head of the Arab Monetary Fund, Abdul Rahman Al-Hamidi, praised the central bank's policy that contributed to the development of the banking sector.

Al-Hamidi said, "The Governor of the Central Bank of Iraq, Chairman of the Board of Governors of the Arab Monetary Fund, Mustafa Ghaleb, is now working to ensure the openness of the Iraqi banking sector to Arab and foreign banks."
In turn, the head of the Iraqi Private Banks Association, Wadih Al-Handal, said, "The event of the Iraqi Banks Week in the Dubai Expo represents an important sign, and a very strong start, to revitalize banking relations with the outside world," noting that "the banking sector today represents a major point in the development of the country’s economy.”

He pointed out that "the participation of banks and electronic payment companies in the activities of the Banking Week represents a strong and clear message to the world, that Iraq today is witnessing an openness carried out by the private sector, and the state must protect it and facilitate its tasks."

It is noteworthy that the Iraqi Banks Week, at Expo 2020 Dubai, includes many banking activities, informing the public about the banking services provided by banks, in addition to holding bilateral meetings between Iraqi banks and banks operating in the United Arab Emirates.

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Finance Minister: Iraq's economy is in danger after the emergence of alternative energy resources for oil

Finance Minister: Iraq's economy is in danger after the emergence of alternative energy resources for oil
archival
 

 

Mubasher: Finance Minister Ali Allawi confirmed today, Saturday, that Iraq needs a radical reform of the economy management system to face challenges, including the decline in oil prices, warning that many industrialized countries have begun planning to use alternative energy instead of oil, and this is a dangerous matter for Iraq's economy. Over time, if no alternative oil resources are available.

Allawi said to a special coverage program broadcast by Al-Iraqiya Al-Akhbariya and followed by the Iraqi News Agency (INA): "There was a financial abundance between the years 2009-2013, but in return there were no clear economic policies, as financial resources were transferred from oil sales to government appointments."

The minister added that "the increase in employee salary entitlements and contracting due to the financial abundance, put pressure on the state's finances due to the decline in oil prices."

The minister added that "investment spending in Iraq is large after 2003, but it was not in accordance with the regulations, and most projects were motivated by personal or sectoral motives, not economic projects."

He pointed out that "there is a great waste and misuse of resources more than theft or corruption, and incompetent people presented projects and managed by unqualified people, and there are huge resources spent on projects, but their economic impact is small."

The minister pointed out that "there are hospital projects that were approved after the year 2011, but were not completed, and some of them did not have allocations, and the specialists withdrew, some benefited, and structures remained," noting as well that "small projects in most cases are more beneficial to the economy than major projects."

Regarding the white paper on economic reform, Allawi explained that "the white paper is a 100% Iraqi project, the goal of which is to strengthen the capabilities of the state, that the white paper began with reforming the state's public administration and then reforming the country's finances."

On the available capabilities and how to invest them, Allawi said, "Iraq can benefit from its geographical situation to be a transit point through the implementation of ports and highways linked to railways, and industrial projects, and Iraq needs a radical reform of the economic management system to face challenges, including the decline in oil prices."

And he warned that "the Iraqi economy is based entirely on oil revenues at a rate of 95 percent, and in the last two years the economies of the major and industrialized countries began looking for an alternative to oil, and this is a danger to us, and alternative oil resources must be found to counter this decline. The Gulf countries have financial investments worth two trillion dollars to face the risk of decline." Oil prices.

He pointed out that "the state's spending is large, but in return it needs additional resources, for example, not paying electricity bills by citizens costs the state 15 trillion dinars annually."

He stressed that "Iraq possesses economic human capabilities and a vision that diagnoses challenges and lays down the means for economic stability."

And on the history of the Iraqi currency, Allawi stressed that "the dinar currency was adopted in Iraq at the beginning of the twenties of the last century, and each dinar was equivalent to 4.80 dollars, the dinar was backed by gold."

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Good Morning all, happy and safe Sunday, the Reinstitution is happening before our eyes, one basket, no fanfare, gradual, spontaneous, it’s all playing out like the Global Millennium Project said it would do, that co-inside  with the Strategic Framework Agreement, President George Busch Signed. Things are positive In This Investment to say the least 

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34 minutes ago, Wheelman said:

Good Morning all, happy and safe Sunday, the Reinstitution is happening before our eyes, one basket, no fanfare, gradual, spontaneous, it’s all playing out like the Global Millennium Project said it would do, that co-inside  with the Strategic Framework Agreement, President George Busch Signed. Things are positive In This Investment to say the least 

:praying::praying::praying:

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