Regarding the dollar exchange rate... Al-Sadr proposes to summon the Minister of Finance and the Governor of the Central Bank"immediately"

[6ly410]

Al-Kazemi’s advisor: It is time to address the side effects of changing the exchange rate

Posted 1 minute ago

https://iraqakhbar.com/3488472

news source /Mawazine News

 

News source / Mawazine News

political|  

09:26 – 17/02/2022

 Baghdad - Mawazine News , the financial
advisor
to the Prime Minister, Mazhar Muhammad Salih, confirmed today, Thursday, that the time has come to address the
side effects of the exchange rate change and its effects on income, while warning of a
double financial slope related to unemployment.
Saleh said,
"The time has come for fiscal policy to play its active and important role in addressing the
side effects that resulted from the exchange rate change and its effects on income, especially the
poor and low-income classes being negatively affected by price failures without compensation."
He added,
"Usually, the transitional effects of the exchange rate depreciation on monetary income correspond to
positive fiscal policies with influential social and economic effects within the income range, i.e. creating counter-price effects.
It generates positive or real income effects that help stabilize the standard of living for the
low-income social classes.
He added,
"This aspect directly bears the importance of reducing customs taxes in a tangible way on
imported foodstuffs, medicines and local production supplies, as well as restructuring government support for
goods and services that directly affect the poor social classes."
He pointed out that
"the most important thing is to start adopting employment policies for the unemployed and expanding the area of cash income with
additional and exceptional measures that lead to the employment of the unemployed in a tangible and comprehensive manner and creating sources of
cash income that increase the welfare of society."
He continued:
“Unemployment today is one of the most serious economic and social scourges in our country, and it is becoming more and more difficult.”
It is more dangerous when accompanied by price developments that lead to an erosion of cash income or the purchasing power
of family income sources, and it is a double financial slope that must be avoided.”
Earlier,
the leader of the Sadrist movement, Muqtada al-Sadr, presented today, Thursday, six proposals regarding the
dollar exchange rate.
Al
-Sadr said in a statement, “With regard to the dollar exchange rate, we propose some proposals in order for this not to
continue:
1- Stopping currency smuggling with force and firmness, as well as
forged invoices.
2- Looking into the matter of some banks, such as the Middle East Bank, Al-
Qadid and Al-Ansari, which belong to some people who control the currency and some other private banks
. 3- Immediately
summon the director of the Central Bank under the dome of Parliament . 4- Summon the Minister of Finance under the dome of Parliament immediately.

5- Regulating the Iraqi currency market centrally and in a
correct manner and by enacting some laws that increase the value of the Iraqi dinar exchange rate.
6- Dealing firmly with some banks belonging to some of the parties that
control the country and the people. Ended 29 / p. 87

[6ly410]

 

Parliament sets the date for the meeting with the Minister of Finance and the Governor of the Central Bank

Posted 13 seconds ago

https://iraqakhbar.com/3488463

news source /NR TV channel

News source / NR TV channel

Today, Thursday, the House of Representatives set a date for next Saturday to meet with Finance Minister Ali Allawi and Central Bank Governor Mustafa Ghaleb to discuss the dollar exchange rate.

 

The Media Department of the Council said in a statement that NRT Arabic received a copy of it, that “a meeting will be held next Saturday, headed by the First Deputy Speaker of the House of Representatives Hakim Al-Zamili, with the Minister of Finance and the Governor of the Central Bank to discuss the dollar exchange rate,” explaining  that “the meeting will be held in the Constitutional Hall at 1:00 PM.” 11 am.”

 

The Presidency of the House of Representatives decided today, Thursday, to summon the Minister of Finance and the Governor of the Central Bank.

 

The media office of the Deputy Speaker of Parliament, Hakim Al-Zamili, said in a statement that NRT Arabic received a copy of it, that “the Presidency of the House of Representatives decided to summon the Minister of Finance and the Governor of the Central Bank in the dome of the House of Representatives immediately,” noting  that “this came according to the directives of the leader of the Sadrist movement, Muqtada. the chest".

 

It is noteworthy that the leader of the Sadrist movement, Muqtada al-Sadr, had presented earlier, some proposals regarding the exchange rate of the dollar, including calling the director of the Central Bank and the Minister of Finance under the dome of Parliament immediately.

 

 

[Longtimelurker]

02/20/22 would work!

[Theseus]

1 hour ago, Half Crazy Runner said:

I like action!  

No action here because nothing has changed. Just more talk and more talk yet nothing gets done. They have been trying to stop smuggling, mainly in the auction, for over ten years. The only thing they did there was to cut down the amount of sales. Smuggling continues.

[6ly410]

 

After al-Sadr's proposals, the Iraqi government talks about changing the dollar exchange rate

Posted 14 seconds ago

https://iraqakhbar.com/3488599

news source /noon agency

 

News source / Noon Agency

 

Today, Thursday, the financial advisor to the Prime Minister, Mazhar Muhammad Salih, proposed a mechanism to address the side effects of changing the dollar exchange rate.

Saleh said, in a statement to the official agency, that "the time has come for fiscal policy to play its active and important role in addressing the side effects that resulted from changing the exchange rate and its effects on income, especially the negative impact of the poor and low-income classes by price failures without compensation."

He added, "This aspect directly bears the importance of reducing customs taxes in a tangible way on imported foodstuffs, medicines and local production supplies, as well as restructuring government support for goods and services that directly affect the poor social classes."

He pointed out that "the most important thing is to start adopting employment policies for the unemployed and expanding the area of cash income with additional and exceptional measures that lead to the employment of the unemployed in a tangible and comprehensive manner and creating sources of cash income that increase the welfare of society."

He continued, "Unemployment today is one of the most serious economic and social scourges in our country and becomes more dangerous when accompanied by price developments that lead to an erosion of cash income or the purchasing power of family income sources, and it is a double financial slope that must be guarded against."

Earlier, the leader of the Sadrist movement, Muqtada al-Sadr, presented today, Thursday, six proposals regarding the dollar exchange rate.

Al-Sadr said in a statement, “With regard to the dollar exchange rate, we propose some proposals in order for this not to continue:

1- To stop the smuggling of currency by force and firmness, as well as forged invoices.

2- Looking into the matter of some banks, such as the Middle East Bank, Al-Qadid and Al-Ansari, which belong to some people who control the currency and some other private banks.

3- Immediately summon the director of the Central Bank under the dome of Parliament.

4- Summon the Minister of Finance under the dome of Parliament immediately.

5- Regulating the Iraqi currency market centrally and in a correct manner and by enacting some laws that increase the value of the Iraqi dinar exchange rate.

6- Dealing firmly with some banks belonging to some of the parties that control the country and the people

[6ly410]

 

Aware / The repercussions of Al-Sadr’s tweet.. The government: It is time to address the side effects of the high dollar exchange

February 17, 2022 1 Views

Conscious / Baghdad / h. g  

https://al-iraqinews.com/archives/235507

The financial advisor to the Prime Minister, Mazhar Muhammad Salih, stressed today, Thursday, that the time has come to address the side effects of the exchange rate change and its effects on income, while warning of a double financial slope related to unemployment.

Saleh said, in a statement I followed (Iraqi Media News Agency / INA), that "the time has come for fiscal policy to play its active and important role in addressing the side effects that resulted from changing the exchange rate and its effects on income, especially the poor and low-income classes being negatively affected by price failures without compensation." “.

He added, "Usually, the transitional effects of the exchange rate depreciation on monetary income correspond to positive fiscal policies with influential social and economic effects within the income range, that is, creating counter-price effects that generate positive or real income effects that help stabilize the standard of living for the low-income social classes."

He added, "This aspect directly bears the importance of reducing customs taxes in a tangible way on imported foodstuffs, medicines and local production supplies, as well as restructuring government support for goods and services that directly affect the poor social classes."

He pointed out that "the most important thing is to start adopting employment policies for the unemployed and expanding the area of cash income with additional and exceptional measures that lead to the employment of the unemployed in a tangible and comprehensive manner and creating sources of cash income that increase the welfare of society."

He continued, "Unemployment today is one of the most serious economic and social scourges in our country and becomes more dangerous when accompanied by price developments that lead to an erosion of cash income or the purchasing power of family income sources, and it is a double financial slope that must be guarded against

[Fairways&Greens]

Keep the good news coming. I like that the two hot topics of conversation in Iraq today are:

 

1.  Oil and gas law 🔥 

2.  Exchange rate 🔥 

 

It looks like there is some urgency surrounding these items. The catalyst might be the UN decision coming Tuesday 2/22/22. If removal of chapter VII sanctions means what we all hope it means, these politicians have some candles to burn! They’ve been dragging their feet a long time. Maybe it gets done before March 1st?

[6ly410]

4 minutes ago, Fairways&Greens said:

1.  Oil and gas law 🔥 

2.  Exchange rate 🔥 

[6ly410]

 

A new statement from Al-Kazemi's financial advisor regarding the exchange rate change

Posted 14 seconds ago

https://iraqakhbar.com/3488739

news source /NR TV channel

News source / NR TV channel

 

Today, Thursday, the financial advisor to the Prime Minister, Mazhar Muhammad Salih, called for addressing the side effects of changing the exchange rate and its effects on income.

 

Saleh said in a press statement, followed by NRT Arabia, that "the time has come for fiscal policy to play its active and important role in addressing the side effects that resulted from the exchange rate change and its effects on income, especially the poor and low-income classes being negatively affected by price failures without compensation."

 

He explained, "Usually, the transitional effects of the exchange rate depreciation on monetary income correspond to positive financial policies with influential social and economic effects within the income range, that is, counter-price effects that generate positive or real income effects that help stabilize the standard of living for the low-income social classes."

 

And Saleh indicated, "This aspect directly bears the importance of reducing customs taxes in a tangible way on imported foodstuffs, pharmaceuticals and local production supplies, as well as restructuring government support for goods and services that directly affect the poor social classes."

 

The financial advisor stressed, "The most important thing is to start adopting employment policies for the unemployed and expanding the cash income space with additional and exceptional measures that lead to the employment of the unemployed in a tangible and comprehensive manner and creating sources of cash income that increase the welfare of society."

 

He continued: "Unemployment today is one of the most serious economic and social scourges in our country and becomes more dangerous when accompanied by price developments that lead to an erosion of cash income or the purchasing power of family sources of income, and it is a double financial slope that must be guarded against."

 

(conscious)

 

AA

[6ly410]

 

After al-Sadr's proposals, the Iraqi government talks about changing the dollar exchange rate

• Thursday, Feb 17-2022,PM 9:58
• Karar Al Asadi

text size

14

---

Today, Thursday, the financial advisor to the Prime Minister, Mazhar Muhammad Salih, proposed a mechanism to address the side effects of changing the dollar exchange rate.

Saleh said, in a statement to the official agency, that "the time has come for fiscal policy to play its active and important role in addressing the side effects that resulted from the exchange rate change and its effects on income, especially the negative impact of the poor and low-income classes by price failures without compensation."

He added, "This aspect is directly related to the importance of reducing customs taxes in a tangible way on imported foodstuffs, medicines and local production supplies, as well as restructuring government support for goods and services that directly affect the poor social classes."

He pointed out that "the most important thing is to start adopting employment policies for the unemployed and expanding the cash income space with additional and exceptional measures that lead to the employment of the unemployed in a tangible and comprehensive manner and creating sources of cash income that increase the welfare of society."

He continued: "Unemployment today is one of the most serious economic and social scourges in our country and becomes more dangerous when accompanied by price developments that erode cash income or the purchasing power of family income sources, and it is a double financial slope that must be avoided."

Earlier, the leader of the Sadrist movement, Muqtada al-Sadr, presented today, Thursday, six proposals regarding the dollar exchange rate.

Al-Sadr said in a statement, "With regard to the dollar exchange rate, we propose some proposals in order for this not to continue:

1- To stop the smuggling of currency by force and firmness, as well as forged invoices.

2- Looking into the matter of some banks, such as the Middle East Bank, Al-Qadid and Al-Ansari, which belong to some people who control the currency and some other private banks.

3- Immediately summon the director of the Central Bank under the dome of Parliament.

4- Summon the Minister of Finance under the dome of Parliament immediately.

5- Regulating the Iraqi currency market centrally and in a correct manner and by enacting some laws that increase the value of the Iraqi dinar exchange rate.

6- Dealing firmly with some banks belonging to some of the parties that control the country and the people

[screwball]

1 hour ago, Fairways&Greens said:

Keep the good news coming. I like that the two hot topics of conversation in Iraq today are:

 

1.  Oil and gas law 🔥 

2.  Exchange rate 🔥 

 

It looks like there is some urgency surrounding these items. The catalyst might be the UN decision coming Tuesday 2/22/22. If removal of chapter VII sanctions means what we all hope it means, these politicians have some candles to burn! They’ve been dragging their feet a long time. Maybe it gets done before March 1st?

yes the best new ever! timing!!!!

[screwball]

1 hour ago, 6ly410 said:

5- Regulating the Iraqi currency market centrally and in a correct manner and by enacting some laws that increase the value of the Iraqi dinar exchange rate.

you think Oil Law? FML?

[screwball]

Muqtada al-Sadr, Mazhar Muhammad Salih, sounds like they are all on the same page with the PM in agreeance, this is great!

[screwball]

1 hour ago, 6ly410 said:

Saleh said, in a statement to the official agency, that "the time has come for fiscal policy to play its active and important role in addressing the side effects that resulted from the exchange rate change and its effects on income, especially the negative impact of the poor and low-income classes by price failures without compensation."

yep....

[pokerplayer]

You kicked some royal hinny today with the articles @6ly410 . Great news and very Encouraging.   pp

[horsesoldier]

Quit TALKING about it ... And fracking get it DONE.
 

Wouldn’t these people try the patience of Christ, Allah & Buddha to the sticky but of the envelope and beyond!!!!!

[dinarham]

The synergy of events here is is crazy good . 

[Wiljor]

Much appreciated @6ly410 great articles.

Number 5 tells me that the plan is to float the IQD. 
 

“5- Regulating the Iraqi currency market centrally and in a correct manner and by enacting some laws that increase the value of the Iraqi dinar exchange rate” 

 

The primary argument for a floating exchange rate is that it allows monetary policies to be useful for other purposes. Using fixed rates, monetary policy is committed to the single goal of maintaining the exchange rate at its announced level. However, the exchange rate is only one of the many macroeconomic variables that monetary policy can influence. A system of floating exchange rates leaves monetary policymakers free to pursue other goals, such as stabilizing employment or prices. (Wikipedia)

 

Which is exactly what, in part, the article is pertaining to. 
Iraq has a plan, one that “seems” to have structure and congruency. Sadr and Kazemi are making sure they get it right. I see progress in all directions DV, now more then ever there seems to be a sense of urgency to bring Iraq to the worlds stage. 
If they continue to pursue their mandates we may see this ride to the end. Again, nobody knows for sure, but the picture currently being painted on the canvas is nothing I have seen since my first days here in DV. 
Just my 2 cents 

 

[3 bucks new rv rate]

8 hours ago, 6ly410 said:

Al-Sadr said in a statement, “With regard to the dollar exchange rate, we propose some proposals in order for this not to continue:

1- To stop the smuggling of currency by force and firmness, as well as forged invoices.

2- Looking into the matter of some banks, such as the Middle East Bank, Al-Qadid and Al-Ansari, which belong to some people who control the currency and some other private banks.

3- Immediately summon the director of the Central Bank under the dome of Parliament.

4- Summon the Minister of Finance under the dome of Parliament immediately.

5- Regulating the Iraqi currency market centrally and in a correct manner and by enacting some laws that increase the value of the Iraqi dinar exchange rate.

6- Dealing firmly with some banks belonging to some of the parties that control the country and the people

Thanks again 6ly410. you always bring a surprising news articles.  so this is the six proposals regarding the exchange rate. i think I like the proposal number # 5 even better " 5- Regulating the Iraqi currency market centrally and in a correct manner and by enacting some laws that increase the value of the Iraqi dinar exchange rate ". hopefully, Al-Sadr can push and push and push the CBI to implement those six proposals, specially proposal number # 5.

[lmb4321]

6ly....Thank You for posting the News.....

Can we finally plan on the Celebration Trip with the Bro's

And the Rest of The DV'ers in Maui??....🤙....

PS....Would love to hear from Adam about this News!!

[3 bucks new rv rate]

The first parliamentary comment on Al-Sadr's proposals regarding the dollar exchange rate

12 hours ago

543

 

((Wan_Baghdad))

On Thursday, the representative of the Sovereignty Alliance, Mudar Al-Karawi, commented on the proposals of the leader of the Sadrist movement, Muqtada Al-Sadr, regarding the dollar exchange rate. Al-Karawi stated that “there is a financial abundance that calls for a review of the exchange rate, especially as it led to a fever in food and medicine prices that exceeded 30%, or even more in some cases,” noting that “more than 13 million Iraqis at risk of poverty paid the bill to raise the exchange rate due to the high cost of living.” Prices and the lack of strong control over those trying to reap profits from traders by raising prices and speculating.” He pointed out that "Al-Sadr's statement is clear, and we hope that there will be accelerated steps to correct its course." Today, Thursday, the leader of the Sadrist movement, Muqtada al-Sadr, called for summoning the Minister of Finance and the Governor of the Central Bank and laying hands on some banks to control the currency market and dollar exchange rates.
Al-Karawi said, "Al-Sadr's proposals shed light on the secrets of the currency exchange in Iraq and gave important advice to prevent its smuggling in light of the presence of influential forces in this path."
He added: “We support any measures that lead to the stability of the currency market,” noting by saying: “We proposed weeks ago to start collecting signatures in order to restore the dollar exchange rate to its previous position and be the first file for the House of Representatives for the current session, especially since oil prices exceeded $90.” .

 

link  : https://ashourland.net/2022/02/17/أول-تعليق-نيابي-على-مقترحات-الصدر-بشأن/

[screwball]

lots of exciting great news!

[3 bucks new rv rate]

 

Al-Sadr calls for " centralizing " currency market to counter dinar's depreciation 

 

Muqtada Al-Sadr   2022-02-17 23:59

 

Shafaq News/ The leader of the Sadrist movement, Muqtada al-Sadr, on Thursday cracked a list of recommendations he believes it might contribute to leaching the valotile exchange rate of the U.S. dollar against the Iraqi dinar.

The hand-written list shared by the firebrand Shiite cleric included summoning the minister of finance and the governor of the Central Bank of Iraq "Immediately". 

Al-Sadr called for halting currency smuggling by force, organizing and centralizing the currency market, and enacting laws that boost the national currency. 

The Sadrist leader called for scrutinizing the activity of some banks that belong to "persons controlling the currency like al-Sharq al-Awsat (the Middle East), al-Qabedh, and al-Ansari, and other private banks," and "dealing firmly with the banks affiliated with some political parties controlling the people and the land."

Yesterday, al-Sadr said in a tweet that the Iraqi citizens shall not be burdened by the downsides of the dinar devaluation, calling on the Iraqi government to take firm steps to curb the rise of prices. 

"Raising the exchange rate of the dollar, regardless of its upsides and downsides, shall not bring the prices of the commodities, particularly the basic ones, higher," al-Sadr tweeted. 

Al-Sadr called for holding the traders who tamper with the prices of the goods accountable, "particularly, with the holy month of Ramadan around the corner."

 

link  :  https://shafaq.com/en/Iraq-News/Al-Sadr-calls-for-centralizing-currency-market-to-counter-dinar-s-depreciation

 

 

[3 bucks new rv rate]

 

Iraq's Parlement responds to Al-Sadr , summon financial official for questioning 

 

2022-02-18 00:37

A-AA+

Shafaq News / On Thursday, the Iraqi Parliament issued a decision to summon the Minister of Finance, Ali Allawi, and the Governor of the Central Bank, Mustafa Ghalib, for questioning.

The Parliament's Presidency said this decision comes in response to the directives of the leader of the Sadrist Movement, Muqtada al-Sadr.

Al-Sadr cracked a list of recommendations he believes might contribute to leaching the volatile exchange rate of the U.S. dollar against the Iraqi dinar.

The hand-written list shared by the firebrand Shiite cleric included summoning the minister of finance and the Governor of the Central Bank of Iraq "Immediately." 

He called for halting currency smuggling by force, organizing and centralizing the currency market, and enacting laws that boost the national currency. 

The Sadrist leader called for scrutinizing the activity of some banks that belong to "persons controlling the currency like al-Sharq al-Awsat (the Middle East), al-Qabedh, and al-Ansari, and other private banks," and "dealing firmly with the banks affiliated with some political parties controlling the people and the land."

Yesterday, al-Sadr said in a tweet that the Iraqi citizens should not be burdened by the downsides of the dinar devaluation, calling on the Iraqi government to take firm steps to curb the rise of prices. 

"Raising the exchange rate of the dollar, regardless of its upsides and downsides, shall not bring the prices of the commodities, particularly the basic ones, higher," al-Sadr tweeted. 

Al-Sadr called for holding the traders who tamper with the prices of the goods accountable, "particularly, with the holy month of Ramadan around the corner."

link  :  https://shafaq.com/en/Iraq-News/Iraq-s-Parliament-responds-to-Al-Sadr-summons-financial-officials-for-questioning

[screwball]

15 minutes ago, 3 bucks new rv rate said:

"Raising the exchange rate of the dollar, regardless of its upsides and downsides, shall not bring the prices of the commodities, particularly the basic ones, higher," al-Sadr tweeted. 

 

boom