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

[NMP2017]

1 hour ago, 6ly410 said:

"He pointed out that "the economic situation in the country had a great impact on the lives of the poor and led to an increase in crime, divorce cases and suicide, so the urgent solution is in the public interest and that people's lives are above the law and the people are the source of powers."

An EXTREMELY GOOD reason for a HUGE change in the rate! 🙏

[6ly410]

goooooo RvVvVV !!!! $$ 

[DoD]

That’s what I’m talking about, when the percentage reaches about 70% we will be good….

[6ly410]

 

Concerning the price of the dollar .. What did the governor of the Central Bank say in Parliament?

https://shafaq.com/ar/اقتصـاد/بش-ن-سعر-الدولار-ماذا-قال-محافظ-البنك-المركزي-داخل-البرلمان

 2022-02-19 11:44

 

Shafaq News/ An informed source revealed the details of the meeting that took place, on Saturday, between the Deputy Speaker of Parliament, Hakim Al-Zamili and the Governor of the Central Bank, Mustafa Ghaleb Makheeb, in the presence of heads of some parliamentary blocs.

 

The source told Shafak News Agency, "The governor of the Central Bank explained in detail the gains that have been made for the country regarding the adoption of the current exchange rate of the dollar against the local currency, including the payment of some debts owed by Iraq to countries such as Kuwait, in addition to providing important investment projects with the necessary allocations."

 

And Makheif stressed, according to the source, that "it is very difficult to change the exchange rate of the dollar and return it to what it was, because the damages of that will be severe, given that betting on the rise in oil prices is not without risk, as it is variable and unstable."

 

He pointed out that "resorting to raising the dollar exchange rate was a middle and temporary solution, and much better than the proposals of some proposed solutions, such as reducing employee salaries or borrowing from international banks, and the consequences that harm the Iraqi economy," according to what the source said.

 

The source added that "when the meeting demanded the governor of the Central Bank to provide effective solutions to remove the injustice against the citizen first affected by the high exchange rate of the dollar, he answered that the solutions require taking governmental measures in this, including securing the food basket (the ration ration) in its entirety, in addition to increasing allocations. The finances of the Ministry of Labor and Social Affairs and, consequently, an increase in the salaries of those covered by the regulations of the Ministry of Labor, as if a salary of 200 thousand dinars was granted to those who were receiving a salary of 150 dinars.

 

The source added that "the committee that the deputy speaker of Parliament called for its formation will exercise its duties impartially and professionally, as the governor of the central bank pledged to inform the committee of all the work of the central bank and its financial policy."

 

Al-Zamili had hosted the governor of the Central Bank in response to an invitation from the leader of the Sadrist movement to find out the reasons and repercussions of raising the dollar exchange rate against the local currency.

 

And in late 2020, the Central Bank of Iraq decided to reduce the value of the local dinar against the dollar from 1190 dinars per dollar to 1450 dinars, to contain a financial crisis that Baghdad was suffering from as a result of a significant decline in oil prices due to the repercussions of the Corona pandemic.

 

The decision caused prices to rise in local markets by more than 20%, which negatively affected people with low incomes and the middle class.

[6ly410]

 

2022/02/19 19:13 

 

The Central Bank: The rise in the exchange rate has achieved positive results

https://almasalah-com.translate.goog/ar/news/222445/البنك-المركزي-ارتفاع-سعر-الصرف-حقق-نتائج-إيجابية?_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en

Baghdad/The Obelisk:

Follow

 

[Pitcher]

Thank you for all the articles the last number of days 6ly.  Appreciate it.  

[6ly410]

Legal: The Exchange Rate Change Affected The Poor And Increased The Rates Of “Divorce And Suicide”

Author: Ahad8 On February 19 2022 - 4:54 PM 74

https://alahadnews.net/2022/02/19/قانوني-تغيّر-سعر-الصرف-أثر-على-الفقراء/

Al-Ahed News_Special

Legal Expert Ali Al-Tamimi Explained, Today, Saturday, That The Change In The Exchange Rate Of The Dollar Significantly Affected The Lives Of The Poor, While Noting That The Economic Situation Increased The Rates Of Crime, Divorce And Suicide.

Al-Tamimi Said In An Interview With “Al-Ahd News” That “25 Deputies Can, According To Article 61 Seventh / B Of The Constitution, Raise A General Topic For Discussion And Clarification And Host The Competent Minister,” Explaining That “Article 58 Of The Constitution Authorized The Holding Of The Extraordinary Session With The Approval Of 50 Deputies, And This Is Not An Interrogation But A Question.” Agree With The Constitution And The Internal System Of Parliament.

Al-Tamimi Added, “ The Governor Of The Central Bank Can Submit A Proposal To Change The Dollar Exchange Rate And Bring It Down, And Present It To Parliament To Give It Legitimacy, And Then If The Vote Is Attended By An Absolute Majority Of The Number Of Members, Half Of The Total Number Plus One Adopts This Change ,” Noting That “ The Justification For The Proposal Is The Effect Of The Rise.” The Exchange Rate On The Poor And The Prevalence Of Crime, Suicide And Divorce.”

 Al -Tamimi Added That “ The Rise In The Exchange Rate Violates Articles 30 And 31 Of The Constitution, Which Obligate The Government To Provide A Free Life And Decent Living, ” Adding That “The Other Solution.” Exchange And This Becomes A Binding Law . ”

Al -Tamimi Indicated That "The Economic Situation Had A Significant Impact On The Lives Of The Poor And Led To An Increase In Crime, Divorce And Suicide, So The Quick Solution Is In The Public Interest, As People's Lives Are Above The Law, And The People Are The Source Of Powers."

 

[6ly410]

Parliamentary Honest: The Escalation Of Voices Demanding A Change In The Price Of The Dollar Is Evidence That Al-Fateh Was Right In Its Objection

Author: AhadNA1 On 2/19/2022 - 11:24 AM 92

 

https://alahadnews.net/2022/02/19/الصادقون-النيابية-تصاعد-اصوات-المطال/

Al -Ahd News - Special The Al-
Sadiqoon Parliamentary Bloc Confirmed Today, Saturday, That The High Voices Calling For A Reduction In The Price Of The Dollar And Returning It To The Previous One Is Evidence That The Al-Fateh Alliance Was Right In Its Objection At The Time To The Lifting Process.
Member Of The Bloc, Muhammad Al-Baldawi, Said In An Interview With “Al-Ahd News” That “The Process Of Changing The Dollar Exchange Rate Was Ill-Considered And Unrealistic, As It Was Supposed To Reduce Currency Smuggling Abroad, And This Never Happened, And The Rise In Votes Now Is Evidence That The Al-Fateh Alliance He Was Right In His Objection To Raising The Price Of The Dollar, As It Would Harm The Weak Segment Of The People, Unlike The Other Blocs That Supported That Step.
Al-Baldawi Added That "The Government Lacks A Strategic Vision, And Is Incapable Of Managing The Economic And Financial Crisis, And Has Even Worsened The Scene."

 

[6ly410]

The Law Supports Allawi And Rejects The Request To Host Him.. The Parliament's Presidency Is In Embarrassment And Situations That Ignite The Crisis

Author: AhadNA4 On February 19 2022 - 5:58 PM 70

https://alahadnews.net/2022/02/19/القانون-يساند-علاوي-ويرفض-طلب-استضافت/

Al-Ahed News_Report

The Political Scene Witnessed A New Development, Represented By The Uprising Of The Iraqi Finance Minister, Ali Abdul Amir Allawi, Against The Caretaker Prime Minister, Mustafa Al-Kazemi, In Protest Against The Directive Of The First Deputy Speaker Of Parliament, Hakim Al-Zamili, To Host Allawi, Who Was Considered By The Minister As Meeting The Directives Of The Leader Of The Sadrist Bloc, Muqtada Al-Sadr.

 

There Is A Question About The Legitimacy Of Hosting In The House Of Representatives, And Does The Zamili Have The Right To Direct Hosting Officials In The State?

 

The Minister, In Turn, Rejected Al-Zamili’s Request To Attend Parliament In Order To Discuss The Dollar Exchange Rate And Iraq’s Monetary Policy, And The Accompanying Serious Repercussions On The Iraqi Economy, Through A “Strongly Worded” Letter Addressed To The Caretaker Prime Minister, Mustafa Al-Kazemi, But Al-Zamili Responded To His Message That “ He Will Be Interrogated And Will Be Banned From Travel Until The Completion Of The Interrogation Procedures.”

 

Law Experts Say That There Is No Such Thing As Hosting In The Parliament, There Is Only Question, Accountability And Interrogation.

 

The Experts Complete That The Question Must Be In Writing, And Be Included In The Agenda Of The House Of Representatives At Least One Week After The Date Of Its Notification To The Concerned Official, And The Response May Not Be Delayed For More Than Two Weeks, And The Response Must Be Verbal.

 

The Experts Point Out That, As For The Interrogation, 26 Members Have The Right To Direct The Interrogation, And The Interrogation Does Not Take Place Until A Week After The Date Of Its Submission In Accordance With Articles 50-55 Of The House Of Representatives’ Rules Of Procedure. The Minister Must Attend Within Seven Days From The Date Of Receiving The Invitation, According To Article 77 Of The First Bylaw Of The House Of Representatives.

 

And They Considered That What Ali Allawi Had Done Was A Completely Legal Procedure When He Refused To Attend For Violating The Invitation To The Procedures To Be Followed.

 

 The First Deputy Speaker Of The House Of Representatives, Hakim Al-Zamili, The Minister Of Finance, Ali Abdul Amir Allawi, Vowed To Dismiss Him From His Position After He Refused The Request To Host Him Under The Dome Of Parliament.

 

Al-Zamili Said During The Session In Which He Hosted The Governor Of The Central Bank In Parliament, That "Allawi Will Be Prevented From Traveling And Will Be Dismissed If He Does Not Meet The Request To Attend The House Of Representatives."

 

He Added, "Finance Minister Ali Allawi, Even If He Submitted His Resignation, Will Not Be Left Without Accountability, And We Have Files That Condemn Him," Noting That "Allawi's Refusal To Attend Parliament May Be A Prelude To Ministers Evading Accountability."

 

He Continued, "We Do Not Have Any Dispute With The Minister Of Finance, And We Have Signatures Of More Than 50 Deputies To Host The Minister Of Finance In Parliament."

 

Two Days Ago, The Leader Of The Sadrist Movement, Muqtada Al-Sadr, Called For Hosting The Governor Of The Central Bank And The Minister Of Finance In Order To Discuss The Dollar Exchange Rate, After Which The Minister Of Finance Responded With A Strongly Worded Message, Which Included His Confirmation Not To Attend The Parliament Session.

 

The Uprising Of The Minister Of Finance Against The Sadrist Bloc And Al-Kazemi Was Explained By Observers That It Came Because Of What Was Caused By Raising The Dollar Exchange Rate Of Great Damage To The Iraqi Economy To A Point Where The Poverty Index In Iraq Rose To Very Record Levels That The Middle And Low Classes Were Unable To Face Its Consequences, Which Affected Their Lives Greatly. .

 

Legal Expert Ali Al-Tamimi Asserts That Raising The Dollar Exchange Rate Has Had A Significant Impact On The Lives Of The Poor, While Noting That The Economic Situation Has Increased Rates Of Crime, Divorce And Suicide.

 

Al-Tamimi Said In An Interview With “Al-Ahd News” That “25 Deputies Can, According To Article 61 Seventh / B Of The Constitution, Raise A General Topic For Discussion And Clarification And Host The Competent Minister,” Explaining That “Article 58 Of The Constitution Authorized The Holding Of The Extraordinary Session With The Approval Of 50 Deputies, And This Is Not An Interrogation But A Question.” Agree With The Constitution And The Internal System Of Parliament.

 

Al-Tamimi Added, “The Governor Of The Central Bank Can Submit A Proposal To Change The Dollar Exchange Rate And Bring It Down And Present It To Parliament To Give It Legitimacy, And Then If The Vote Is Attended By An Absolute Majority Of The Number Of Members, Half Of The Total Number Plus One Adopts This Change,” Noting That “The Justification For The Proposal Is The Effect Of The Rise.” The Exchange Rate On The Poor And The Prevalence Of Crime, Suicide And Divorce.”

 

 Al-Tamimi Added That “The Rise In The Exchange Rate Violates Articles 30 And 31 Of The Constitution, Which Obligate The Government To Provide A Free Life And Decent Living,” Adding That “The Other Solution. Exchange, And This Becomes A Binding Law.”

 

Al-Tamimi Indicated That "The Economic Situation Had A Significant Impact On The Lives Of The Poor And Led To An Increase In Crime, Divorce And Suicide, So The Quick Solution Is In The Public Interest, As People's Lives Are Above The Law, And The People Are The Source Of Authority."

It Is Noteworthy That The Al-Fateh Alliance Announced A Few Months Ago Its Intention To Reduce The Exchange Rates Of The Dollar After The Rise In Its Prices Caused Great Harm To The Iraqi Markets And Increased The Suffering Of The Poor Class In The Country.

 

[6ly410]

Faihan Reveals The Reason For Summoning The Minister Of Finance And The Governor Of The Central Bank To Parliament

Author: Ahad8 On February 19 2022 - 8:22 PM 10

https://alahadnews.net/2022/02/19/فيحان-يكشف-سبب-استدعاء-وزير-المال/

 

Today , Saturday, The Head Of The Sadiqoun Parliamentary Bloc , Adnan Faihan , Revealed The Reason For Summoning The Minister Of Finance And The Governor Of The Central Bank                To Parliament .

Faihan Said In A Statement Received By Al-Ahed News, "Summoning The Minister Of Finance And The Governor Of The Central Bank To Parliament Is Not In Order To Reduce The Dollar Exchange Rate, As The Masses Demand."

He Added :  " It Is Only To Discuss Treatments For The Effects Of Raising The Dollar Exchange Rate . "        

 

[6ly410]

 

 

 

The Central Bank reviews the "results" of the current exchange rate

https://www-alsumaria-tv.translate.goog/news/اقتصاد/412150/البنك-المركزي-يستعرض-نتائج-سعر-الصرف-الحالي?_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en

2022-02-19 | 12:08

 

The Central Bank of Iraq considered, on Saturday, that the exchange rate achieved many positive results, warning of an economic stagnation due to the repetition of the price change.

An authorized source in the Central Bank said in a statement, "The current exchange rate has achieved many positive results, the most prominent of which was reducing the state's general budget deficit to achieving a surplus at the end of 2021, and giving local producers and investors an important competitive advantage with imported goods."

 

He added that "the repetition of changing the exchange rate within short times without studying by the concerned authorities, leads to economic recession, confuses the work of local markets, increases speculation on foreign currency, and squanders the gains made by the current exchange rate."

 

 

The source pointed out that "despite the rise in global oil prices of an unstable nature, there is no connection between this rise and the objectives of changing the exchange rate and its results," stressing that "the current rise in oil prices will enable the Iraqi government to rebuild the Iraqi economy properly, And building sufficient financial buffers to counter any future fluctuations in international oil prices.

 

 

Today, Saturday, the House of Representatives hosted the Governor of the Central Bank of Iraq, Mustafa Ghaleb, and his deputy, after he set a date, a few days ago, for a meeting with the Minister of Finance and the Governor of the Central Bank in order to discuss the dollar exchange rate.

 

[6ly410]

The Central Bank reviews the “results” of the current exchange rate

Posted 10 seconds ago

https://iraqakhbar-com.translate.goog/3490733?_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en

news source /Alsumaria channel

 

News source / Alsumaria channel

The Central Bank of Iraq considered, on Saturday, that the exchange rate achieved many positive results, warning of an economic stagnation due to the repetition of the price change.

 

An authorized source in the Central Bank said in a statement, "The current exchange rate has achieved many positive results, the most prominent of which was reducing the state's general budget deficit to achieving a surplus at the end of 2021, and giving local producers and investors an important competitive advantage with imported goods."

 

He added that "the repetition of changing the exchange rate within short times without studying by the concerned authorities, leads to an economic recession, confuses the work of local markets, increases speculation on foreign currency, and squanders the gains made by the current exchange rate."

 

The source pointed out that "despite the rise in international oil prices of an unstable nature, there is no connection between this rise and the objectives of changing the exchange rate and its results," stressing that "the current rise in oil prices will enable the Iraqi government to rebuild the Iraqi economy properly, And building sufficient financial buffers to counter any future fluctuations in international oil prices.”

 

Today, Saturday, the House of Representatives hosted the Governor of the Central Bank of Iraq, Mustafa Ghaleb, and his deputy, after he set a date, a few days ago, for a meeting with the Minister of Finance and the Governor of the Central Bank in order to discuss the dollar exchange rate

[6ly410]

 

economic news

Aa’a / The Central Bank reviews the “results” of the current exchange rate

February 19, 2022 1 Views

Conscious / Baghdad / h. g

https://1-al--iraqinews-com.translate.goog/archives/236194?_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en&_x_tr_enc=1

The Central Bank of Iraq considered, on Saturday, that the exchange rate achieved many positive results, warning of an economic stagnation due to the repetition of the price change.

An authorized source in the Central Bank said in a statement, "The current exchange rate has achieved many positive results, the most prominent of which was reducing the state's general budget deficit to achieving a surplus at the end of 2021, and giving local producers and investors an important competitive advantage with imported goods."

He added that "the repetition of changing the exchange rate within short times without studying by the concerned authorities, leads to an economic recession, confuses the work of local markets, increases speculation on foreign currency, and squanders the gains made by the current exchange rate."

The source pointed out that "despite the rise in international oil prices of an unstable nature, there is no connection between this rise and the objectives of changing the exchange rate and its results," stressing that "the current rise in oil prices will enable the Iraqi government to rebuild the Iraqi economy properly, And building sufficient financial buffers to counter any future fluctuations in international oil prices

[6ly410]

In the document.. the Minister of Finance addresses Parliament: He is ready to cooperate within the framework of the constitution

 

Saturday 19 February 2022 - 15:33

https://akhbaar-org.translate.goog/home/2022/2/291834.html?_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en

 

Minister of Finance, Abdul Amir Allawi

(Alsumaria News) - Today, Saturday, the Minister of Finance, Ali Abdul-Amir Allawi, demanded the Speaker of the House of Representatives to hold a session of the Council to vote on confidence in him as a minister, while requesting that he be allowed to give a speech on the economy and the exchange rate.

 

Allawi said, according to a document received by Alsumaria News, that he is "ready to cooperate with the House of Representatives within the framework of the constitution, applicable laws and regulations, and the principle of dividing powers and responsibilities between the executive, judicial and legislative authorities of the state."

 

[6ly410]

Al-Sadr’s tweet about bank corruption withdraws to the discussion of the issue of dollar exchange.. Focus on a file that does not exist and neglect of the “false bills” file!

2022-02-19

https://yesiraq.com/تغريدة-الصدر-عن-فساد-المصارف-تنسحب-إلى/

Yes Iraq: Baghdad

Propaganda and news circulating on social media and expert analyzes about restoring the dollar exchange rate to its previous state did not subside after only one year of raising the dollar exchange rate, two consecutive days after the tweet of the leader of the Sadrist movement, Muqtada al-Sadr, which carried 6 proposals described as “complementary” measures for the issue of raising the dollar. dollar exchange rate.

Although al-Sadr’s tweet did not refer to the issue of returning the dollar exchange to its previous status, but rather included proposals to take measures regarding some banks that benefit from the currency sale auction and the issue of forged import bills, but the talk and the general atmosphere still revolves around the issue of the exchange rate and the possibility of returning it to its previous era. .

Perhaps the issue of “forged invoices” is the most important thing that al-Sadr touched on, as the Central Bank’s sales of hard currency, which began to exceed $200 million a day, most of them go abroad as remittances to import goods, at a time when experts indicate that these remittances go out without entering goods. Indeed, forged invoices are submitted to the Central Bank in order to sell them hard currency.

And part of these sales go to some banks that depend on buying currency from the bank at a price of 1460 dinars per dollar to sell it to citizens and exchanges at about 1490, and this difference constitutes great profits for these banks.

As approximately 20 million dollars of Central Bank sales go daily to the banks that buy dollars through the currency auction, and if they sell one dollar with an increase of 30 dinars per dollar to citizens and exchanges, their profits will be up to 600 million dollars per day, or half a billion dollars.

 

While this dangerous file emerges, the general atmosphere was preoccupied with the issue of the dollar exchange rate and brought it back to its previous era, although al-Sadr did not address this issue.

Economist Nabil Al-Marsoumi says in a post followed by “Yasin Iraq” that “Al-Sayed’s tweet did not include a call to study the change in the exchange rate of the dinar, but rather to regulate the foreign exchange market, and the difference between them is great, as there is great corruption and dominance of specific banks over the operations of this market.”

He added, "How can it be accepted that the Central Bank of Iraq has sold more than 37 billion dollars in 2020, most of which are documentary credits, while the value of goods imported by the private sector registered with the Customs Authority did not exceed 14 billion dollars??!!!".

 

[6ly410]

An economist expects a rise in real estate prices due to the “chaos” of the currency market

economic

Last update 02/19/2022 | 3:50 pm

https://almaalomah-me.translate.goog/2022/02/19/583133/?_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en

Information / Baghdad..

The economist, Nabil Al-Marsoumi, expected, on Saturday, a rise in real estate prices and a decline in the sales of the Central Bank of Iraq in the coming days.

Al-Marsoumi said, in a Facebook post, which was seen by / the information / that “the unexpected response from the Minister of Finance and the accompanying turmoil in the currency market will prompt most people to give up their dollar savings and convert them into the Iraqi dinar.”

He added, "The demand for land, real estate and gold will rise in the absence of confidence in the Iraqi banking system and because it is a store of value, which will lead to an increase in their prices or people hoard some of their savings in Iraqi dinars."

The economist also expected that “the sales of the Central Bank of Iraq will decline in the coming days due to the increase in the dollar’s supply in the local market.” Ended / 25 Q

[Half Crazy Runner]

What a crazy circus … 

[horsesoldier]

1 hour ago, Half Crazy Runner said:

What a crazy circus … 

No shortage of Clowns, huh.

[6ly410]

Al-Mashhadani to Dijla: The timing of the exchange rate hike is inappropriate and the size of the increase is illogical

Posted 11 seconds ago

news source /Tigris channel

Al-Mashhadani to Dijla: The timing of the exchange rate hike is inappropriate and the size of the increase is

illogical

[dinarham]

Any profound change ,a paradigm shift , happens only after a period of disorderliness . It's true !

[dinarham]

      " The size of the increase is illogical" ,,,?  How could he say that if he didn't know what it was ? If he's not holding holding dinar ,which is totally illogical , why would he protest ? 

[6ly410]

25 minutes ago, 6ly410 said:

Al-Mashhadani to Dijla: The timing of the exchange rate hike is inappropriate and the size of the increase is illogical

Posted 11 seconds ago

news source /Tigris channel

Al-Mashhadani to Dijla: The timing of the exchange rate hike is inappropriate and the size of the increase is

illogical

https://iraqakhbar.com/3491072

[6ly410]

A constructive criticism series of Finance Minister Ali Haider Allawi for his negative stances...‎

 

Saturday 19 February 2022 - 21:47

Dr.. Jafar Taqi Al-Qazwini

 

https://akhbaar-org.translate.goog/home/2022/2/291839.html?_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en

 

It suffices that the Ministry of Finance, the Central Bank of Iraq and government banks are mortgaged to the US Treasury and the ministry does not exist at all, as this deal took place during the era of previous governments and during the era of Mr. Among the countries and companies, this was stated by George W. Bush, President of America at the time, and added to the sums of Iraqi oil sales under the command of the Headquarters Fund in accordance with United Nations Resolution No. 1483 on May 22, 2003, even if Mr. Ali Allawi had the authority to save at least the resources of his ministry, including For example, the border outlets affiliated to the Directorate General of Customs, which have southern, central and northern branches, we ask him how much the resources of the northern outlets are. His answer is nothing. Where is the secretariat, not to mention the tax resources and fees for real estate transactions and public property? Let's talk about the profits of bank depositsFor money inside and outside Iraq, speculation in the market, and how much is the profit of the sums deposited and circulated in the Iraqi oil sales fund.

 

We ask Mr. Minister, the Ministry of Finance is responsible for the input of funds from known sources according to the law, including the sale of oil, for example, and financial outputs according to the law in accordance with the federal budgets, for example. Has the Ministry of Finance maintained the financial inputs and carried out accounting or lawsuits against The sources of lagging and non-deliverable funds, such as the money from the sale of oil from the northern region.

 

This applies to all ministries, as it is the secretariat to preserve financial resources and hold the laggards accountable according to the law, and the least of them is to file lawsuits. Legal Council.

 

Which is better, Minister of Finance, to preserve the resources of your ministry because it is a trust, or to raise the value of the dollar against the Iraqi dinar, and you did not convince us what is the economic feasibility for the Iraqis to raise the value of the dollar against the Iraqi dinar, which harmed the citizens with the crazy rise in the market, and employees, contractors and daily wage earners by reducing A quarter of their salaries, with a difference in selling the dollar at the current price compared to the old price, up to the quarter as well??

 

The statements made by the Iraqi Finance Minister Ali Abdul Amir Allawi, during which he revealed expectations of what the local economy will face in the coming years as a result of Iraq's total dependence on oil and the world's trend towards clean energy, provoked many negative and critical reactions to what happened to it due to the policies of the Iraqi governments current and prior.

 

The Minister of Finance had stated during the Ministerial Forum on Future Energy Outlook, that the Iraqi financial structure is rigid and in the event of a collapse in revenues, it will result in the layoff of large numbers of employees or the accumulation of arrears, and thus will lead to pressures on the state, indicating that the pension obligations will be during the next five years to 25 A trillion dinars.

 

Unsuccessful political statements

 

Economic expert Hilal Al-Tahan told Shafaq News, "The Minister of Finance was not successful in his statements about the Iraqi economy," noting that "Iraq has been one of the rentier countries since the seventies of the last century, especially since the nationalization of oil in 1972."

 

Elhan adds, "What the Minister of Finance said did not bring anything new, as Iraq depends on oil revenues by more than 90 percent, and non-oil revenues are between 7 to 10 percent, and state employees do not constitute large numbers as the number of state employees They are two million and 900 thousand employees, and 6 newborns have been laid off from the employees in the absence of appointments and retirement under the compulsory retirement law.

 

Al-Tahhan believes that "Iraq does not reach the stage of bankruptcy, as the Minister of Finance says, as a result of the presence of employees, since in the absence of appointments and in light of the high oil prices, which is sold at more than 70 dollars, it is considered one of the normal issues in any oil economy," pointing out that "Experts confirm that oil will not run out in ten years, just as Iraq has the largest reserves in the world, the second after Saudi Arabia."

 

Al-Tahhan pointed out that “the warnings made by the Minister of Finance are more political than economic, and the employees cannot be blamed for the deterioration of the economy,” stressing that “activating the agricultural, industrial and tourism sectors, operating thousands of stalled factories, and operating electric power are solutions to any economic crisis that can be achieved.” transition".

 

It didn't come up with anything new

 

The Minister of Finance did not bring anything new, which is what the economist Durgham Muhammad Ali also spoke to Shafak News Agency, considering that "the defect has been diagnosed for more than ten years, which is the sufficiency of oil revenue linked to the global market and the lack of local development generates a flabby government labor market that drains revenues, And unproductive classes that get salaries like Rafha, the aliens, and others covered by transitional justice laws and former officials.”

 

He points out that "putting problems without strongly advocating for the development of the tourism and investment sectors, removing the hand of politics from them, accelerating the implementation of the Faw port and the dry canal, developing regulated irrigation techniques, and supporting the industry with development loans is like reminding a sick patient of his illness without dispensing medication, and this is what made the Minister of Finance under the monetary circle, as he He always mentions the problem and does not offer realistic solutions.

 

Uncomfortable statements

 

Writer and thinker Ghaleb Al-Shabandar says in a tweet to him on social media, that "the statement of the Minister of Finance does not indicate political statesmanship," describing his statements as "unfortunate," noting that "the best treatment for the situation of Iraq currently is to develop the port of Faw as soon as possible and link it to the Silk Road. ".

 

Shabandar called on the people to "pressure the government to develop and complete the Al-Faw port, because it has become the life of citizens in the future."

 

Statements that overlooked “astronomical” salaries

 

Government employee Hamed Abdel Hamid told Shafaq News Agency, "The reforms proposed by the Iraqi government, which were adopted by the Minister of Finance, with what is known as the White Paper, were ink on paper, and only negative matters were known from them by raising the dollar exchange rate and canceling job opportunities," noting that "the government and since For more than a whole year, we have not seen any repair or opening of any factory or factory.

 

Abdul Hamid adds that "any crisis that the government faces is directly blaming the employee and the simple citizen and seeks to fight the employee by reducing salaries and raising subsidies, ignoring the rampant corruption in the state."

 

For his part, the government employee, Iyad Hamid, told Shafak News Agency, "The Minister of Finance warned of real things that could happen in the future, especially if we knew that Iraq is a rentier country," adding at the same time that "the wrong policies over the past years by governments She is the one who led Iraq to this matter from the boss."

 

Hamid believes that "the Minister of Finance overlooked the astronomical salaries received by officials, ministers, and special grades, and was satisfied with waving and warning the salary of a simple employee who hardly makes a living," calling on the Minister of Finance "to reduce his salary and his peers as a beginning of good faith to correct the course of the Iraqi economy first, and then say what he says." about the Iraqi economy.

 

Will the dollar exchange rate go down??

 

1- Whoever thinks that the price of the dollar against the dinar can be changed quickly and easily is more important and does not know how the change takes place!

 

2- The body responsible for such a decision, in the first place, is the Central Bank of Iraq, whose internal system has defined mechanisms and powers that give it great independence in work, as it is a very sensitive body, and its recommendations are almost literal, to which the government is committed. Where there is no authority or powers for Parliament, parties or political forces to take such a decision.

 

3- Countries usually resort to gradual change, whether by ascending or descending, in order to avoid inflation, unemployment and price hikes with regard to raising the value of the dollar against their national currencies.

 

4- While it also resorts to the gradual method in the process of raising the value of the national currency in order to avoid many problems, including the collapse of the confidence of national and foreign investors and the loss of a lot of state funds and large traders of hard currency due to the currency difference, in addition to the fact that there are strong relations between these traders and the state and that one of the parties is damaged, which means The other side is hurt!

 

5- Therefore, the exchange rate of the dollar against the dinar in Iraq will not change within days or weeks. Rather, it needs a long time, as it is not a random decision, given that Iraq has direct obligations that were made with the International Monetary Fund, the World Bank and the major powers that supported the decision regarding raising the value of the dollar in exchange for a reduction. The value of the dinar is for the purposes of filling the deficit and borrowing, and this means that the decision is not only Iraqi but also external!

 

6- And if the exchange rate changes, the consequences will be dire! Unfortunately, anything is possible in Iraq.

 

7- What is the solution then?? The solution is a gradual decline in line with the rise in the value of the Iraqi dollar reserve, and in coordination with international donors, financing institutions and international monetary guidance.

 

8- Was the decision to devalue the Iraqi dinar correct in 2020? Yes, it is true from the point of view of the state and the central bank, which is the ideal way to bridge the deficit, and it occurs in many countries of the world, but in a more organized and planned way, but in Iraq it was done in an unorganized and unplanned manner.

 

9- While it is a wrong decision for the citizens who found that their monthly income lost more than 20% of its actual value.

 

Who is responsible for all this? Corruption, the corrupt and the ignorant are responsible for our monetary policy in the relevant banks and ministries, and those who put them in these positions!

 

In the end, the state had two options, the first: either to go towards raising the value of the dollar against the dinar in 2020 to bridge the deficit and pay salaries, while the second option is for the state to imprison more than half of those who participated in the political process after 2003 in prisons and what they stole from Money, however, the state went towards the first option and the people were left alone tonight

[lmb4321]

Thanks 6ly for posting all day......let's hope this happens like Sadr wants it to.....👍

[rvmydinar]

10 hours ago, 6ly410 said:

 “the unexpected response from the Minister of Finance and the accompanying turmoil in the currency market will prompt most people to give up their dollar savings and convert them into the Iraqi dinar.”

Convert their dollar savings into iraqi dinar? Hmm. Could this be a sign that CBI is ready to release the new lower denoms to the publics one day suddenly? So the iraqi citizens will exchange their old dinars ( 25,000 iqd, etc ) for the new lower denoms in the country of iraq. And, the dinar investors will trade dinars for dollars out of iraqi country.