Sudanese exempts frightening and assigns Ali Al-Alaq to manage the Central Bank

[NMP2017]

Huh...will be interesting to see what value they give the IQD. A negligible change to something like 1350? Back to 1190? Or a HUGE change! 😁 🙏

Edited January 23, 2023 by NMP2017

[screwball]

35 minutes ago, JonnyV said:

He was Maliki’s guy years ago but looks like he will help to get it done or Sudani wouldn’t have placed him there.  

Exactly….that’s what I think 

[screwball]

19 minutes ago, NMP2017 said:

Huh...will be interesting to see what value they give the IQD. A negligible change to something like 1350? Back to 1190? Or a HUGE change! 😁 🙏

Time will tell….

[6ly410]

 

[6ly410]

 

[6ly410]

A bond reveals the real reason for the decline in the price of the dollar: a temporary effect

Posted 32 seconds ago

Sanad reveals the real reason for the decline in the price of the dollar: temporary effect - Iraq News (iraqakhbar-com.translate.goog) 

 

News Source /Mawazine News

05:42 – 01/23/2023

Baghdad - Mawazine News
, a member of the Finance Committee, Mustafa Jabbar Sanad, revealed the reason for
the decline in the exchange rate of the dollar in the local markets.
Sanad said in a tweet on Twitter, "The
dollar monopolists began to offer what they had in the market, which caused a slight decrease in prices, for fear
of a greater collapse in prices."
And he added, “Therefore, we are waiting for
the real procedural measures that can return the parallel market prices to the closest point to the
official price, because the effect of rumors is temporary.” Ended 29 / H

[6ly410]

The new central bank governor makes a "pledge" to himself... a time limit to restore the exchange rate of the dollar

Posted 34 seconds ago

 

The new central bank governor makes a "vow". Time limit for the reinstatement of the dollar exchange rate - Iraq News (iraqakhbar-com.translate.goog)

 

news source /Noun Agency

 

Today, Monday, a member of the Political Bureau of the Wisdom Movement, Fadi Al-Shammari, revealed “pledges” to the new central bank governor to restore the exchange rate to its normal state, while it was likely that this step would take place within a few weeks.

Al-Shammari said in a tweet via the “Twitter” platform, that “bold decisions were taken by the government to restore control and balance of the currency price after recent market speculation, including changing the management of the central bank and supporting providing merchants with the official price in various commercial sectors.”

He added, "The new governor's pledge is to restore the exchange rate within a short period," stressing that "my estimate of it will not exceed only weeks."

And this morning, Prime Minister Muhammad Shia al-Sudani issued, today, Monday, a decision relieving the Governor of the Central Bank of Iraq, Mustafa Ghaleb Makhaif, from his post, while directing the assignment of Ali Mohsen Al-Alaq to manage the bank by proxy.

[6ly410]

The new central bank governor makes a "vow". Time limit for exchange rate reinstatement

The new central bank governor makes a "vow". Time limit for the return of the exchange rate » Baghdad Today News Agency

Economy | Today, 15:06 | 

    

 

 

Baghdad Today - Baghdad

A member of the political bureau of the Wisdom Movement, Fadi al-Shammari, revealed on Monday "pledges" to the new central bank governor to restore the exchange rate to normal, while this step is likelyto take place within a few weeks.

Al-Shammari said in a tweet via Twitter and followed by (Baghdad Today), that "bold decisions taken by the government to restore control and balance of the currency rate after recent market speculation, including changing the management of the Central Bank and supporting the provision of traders with the official rate in various commercial sectors."

He added that "the pledges of the new governor is to restore the exchange rate within a short period," stressing that "my estimate of them will only exceed weeks."

 

This morning, Prime Minister Mohammed Shia Al-Sudani issued a decision on Monday to relieve the Governor of the Central Bank of Iraq, Mustafa Ghaleb Makhif, from his position, while he directed the assignment of Ali Mohsen Al-Alaq to manage the bank by proxy.

 

[6ly410]

Al-Maliki: The government's measures represent a step in the context of overcoming the crisis of raising the exchange rate

Iraqi News Agency

Al-Maliki: The government's measures represent a step in the context of overcoming the crisis of raising the exchange rate

Baghdad - The
head of the State of Law Coalition, Nouri al-Maliki, said on Monday that the measures taken by the government today of changes represent a step in the context of overcoming the crisis of raising the exchange rate, despite the presence of political parties trying to invest and exploit the crises to employ them politically.
The media office of the State of Law Coalition said in a statement received by the Iraqi News Agency (INA), that "the head of the State of Law Coalition, Nouri Al-Maliki, received in his office today the Ambassador of the Republic of Italy to Iraq, Maurizio Cricanti," pointing out that "at the beginning of the meeting, the future of bilateral relations between the two friendly countries was discussed, as well as developments in the political and security situation in the region and the world."
Al-Maliki stressed, according to the statement, "the importance of increasing aspects of cooperation and coordination between Iraq and Italy in all issues of common interest," expressing "his hope that Italy will deal with Iraq directly away from any other addresses."
He explained that "the new government has strengths and has the qualifications to succeed despite the challenges it faces and the heavy legacy left by the previous government," noting that "the measures taken by the government today of changes represent a step in the context of overcoming the crisis of raising the exchange rate, despite the presence of political parties trying to invest and exploit crises to employ them politically."
In turn, Ambassador Cricanti congratulated Nouri al-Maliki on the formation of the government, expressing his "appreciation for Iraq and the keenness of its leadership to consolidate relations with Italy," extending an invitation to "Maliki to visit Rome at the earliest opportunity."

[6ly410]

Deputy: The Central Bank is under the control of the state framework to serve Iran

Last Updated: January 23, 2023 - 5:21 PM

Deputy: The Central Bank has become under the control of the state framework to serve Iran – Iraq News Network (aliraqnews.com)

Baghdad / Iraq News Network - Independent MP Sajjad Salem on Monday accused the coordination framework of trying to control the Central Bank of Iraq, after the decision to exempt its governor Mustafa Ghaleb Makhi.Salem said, in a press interview, that "the crisis of the rise in the dollar exchange rate is not related to the governor of the Central Bank, and his dismissal from office is not a solution to this crisis, and this exemption will not be a reason to reduce the dollar exchange rate in the local market, but this step may have serious negative consequences due to prejudice to the monetary authority." The rise in the dollar exchange rate is mainly caused by currency smuggling, and the dismissal of the Governor of the Central Bank, Mustafa Ghaleb is frightening, because the forces of the coordination framework target the bank's governors, for political purposes and reasons and not for any economic reason related to the rise in the dollar exchange rate."He added that "the forces of the coordination framework want to dominate the Central Bank of Iraq, and for this came the appointment of Ali Mohsen Al-Alaq as governor of the bank." Dawa Party leader Ali Mohsen Al-Alaq in the bank's acting management.

[6ly410]

All News

'A message from the Sudanese abroad'

Al-Shammari on the Inauguration of Al-Alaq as Governor of the Central Bank: A Measure to Absorb Popular Resentment

2023.01.23 - 16:59

Al-Shammari on the Inauguration of Al-Alaq as Governor of the Central Bank: A Measure to Absorb Popular Resentment (nasnews.com)

  

Baghdad – Nas  

The head of the Center for Political Thinking, Ihsan Al-Shammari, described on Monday the inauguration of Ali Al-Alaq as governor of the Central Bank as "a step in the right direction."  

  

  

Al-Shammari said in a statement to NAS (January 23, 2023), that "Al-Alaq as a figure succeeded in raising the value of the Iraqi dinar and made the exchange rate approximately 112 thousand dinars per 100 dollars, and contributed very significantly to lifting international monitoring and the caveats that were imposed on the Iraqi Central Bank and Iraqi banks."  

  

He added, "Al-Alaq also contributed to the issue of reducing fake banks and canceled many of the licenses of fake banks, and in his time at the Central Bank of Iraq, the financial treasury rose and prevented the disposal of the funds of the Central Bank of Iraq."  

  

"I see his appointment as governor of the bank as a step in the right direction in terms of monetary policy," he said.  

  

He pointed out that "it seems that by virtue of his previous dealings with the US Federal Reserve and international relations, he will contribute to the formulation of a monetary policy through which the level of the dollar exchange rate can be lowered specifically."  

  

"The inauguration of Al-Alaq is a step that can make a difference at the level of this great collapse we are going through," al-Shammari said.  

  

He explained, "I imagine that although the inauguration of Al-Alaq is an internal measure by Prime Minister Mohammed Shia Al-Sudani to absorb popular resentment as a result of the collapse of the dinar, but I think it is a message to the outside in particular, that there is a possibility of dialogue with the US Federal Reserve through a figure who has previously dealt with the United States of America and the international community on the financial side."  

  

"Al-Alaq was classified in many international surveys as having advanced positions in financial policies, all of which provides an opportunity for a new fiscal policy that can save the country," he concluded.  

  

Earlier, the Prime Minister, Mohammed Shia Al-Sudani, decided to relieve the Governor of the Central Bank of Iraq, Mustafa Ghaleb Makhif, from his position, while Ali Mohsen Al-Alaq was assigned to manage the Central Bank by proxy.  

  

A government source said in a statement to the official agency affiliated with "Nas", (January 23, 2023), that "Prime Minister Mohamed Shia Al-Sudani decided to relieve the Governor of the Central Bank, Mustafa Ghaleb Makhif, from his post at his request."   

  

The source added that "the prime minister assigned Ali Mohsen Al-Alaq to manage the central bank by proxy."   

  

Earlier on Monday, Prime Minister Mohammed Shia al-Sudani decided to refer the director of the Iraqi Trade Bank to retirement, while Bilal al-Hamdani was assigned to manage it in addition to his duties.  

  

The Prime Minister's Information Office said in a statement followed by "NAS" (January 23, 2023), that "Al-Sudani decided to refer the director of the Iraqi Trade Bank, Salem Jawad Chalabi, to retirement."   

  

He added, "Bilal Al-Hamdani was assigned to manage the bank in addition to his duties."   

[6ly410]

 

He revealed the scenes of changing the governor of the Central Bank.. The Sudanese gives Al-Alaq a period of three months

Posted 48 seconds ago

 

Revealing the scenes of the change of the governor of the Central Bank. Sudanese gives Al-Alaq a three-month deadline - Iraq News (iraqakhbar-com.translate.goog)

 

news source /Shafak News

2023-01-23T12:07:32.000000Z

 

Shafaq News/ A prominent leader in the coordination framework revealed, today, Monday, the scenes of Prime Minister Muhammad Shia'a Al-Sudani's decision to dismiss the Governor of the Central Bank and assign Ali Mohsen Al-Alaq to replace him.

The leader told Shafaq News agency, who asked not to be named, that "the decision to dismiss the Governor of the Central Bank of Iraq, Mustafa Ghaleb Makhaif, was made by agreement between the leaders of the coordination framework and Prime Minister Muhammad Shia' al-Sudani, during their meeting, last night, at the home of the leader of the Al-Fateh Alliance." Hadi Al-Amiri.

And he indicated that “the decision to exempt was made by a vote of the majority of the leaders of the framework and was supported by the Prime Minister, and the selection of Ali Mohsen Al-Alaq as governor of the Central Bank, was done by the vote of the leadership body of the coordination framework, and also the Sudanese was supportive of this choice.”

He pointed out that Al-Alaq was given a period of three months to evaluate his work and performance, and he attended the meeting with the leaders of the framework and the Sudanese after it was agreed to assign him this task.

And today, Monday morning, Prime Minister Muhammad Shia al-Sudani decided to relieve the governor of the Central Bank of Iraq, Mustafa Ghaleb Makhaif, from his post, while Ali Mohsen Al-Alaq was assigned to run the bank by proxy.

On Sunday, a Sudanese took urgent decisions to "address" the exchange rate of the US dollar against the local currency during his meeting with the Federation of Iraqi Chambers of Commerce to discuss treatments for the fluctuation of the foreign exchange rate of the currency.

These decisions come at a time when the exchange rate of the US dollar against the Iraqi dinar since November 2022 has been gradually rising to reach its highest levels in recent days, as it exceeded the barrier of 165 thousand dinars per 100 dollars.

[6ly410]

 

A leader in the Wisdom Movement: This is what Ali Al-Alaq pledged to do after assuming the position of Governor of the Central Bank

Posted 41 seconds ago

 

Leader in the Wisdom Movement: This is what Ali Al-Alaq pledged after assuming the post of Governor of the Central Bank - Iraq News (iraqakhbar-com.translate.goog)

 

news source /Iraq Today Agency

 

Baghdad - Iraq today:

The new central bank governor, Ali Al-Alaq, pledged, on Monday, to restore the exchange rate of the dollar to its previous state “within a short period.”

A member of the political bureau of the Wisdom Movement, Fadi Al-Shammari, conveyed “pledges” to the new central bank governor, in a tweet, that “bold decisions were taken by the government to restore control and balance of the currency price after recent market speculation, including changing the management of the central bank and supporting providing merchants with the official price in various commercial sectors.” ".

He added, "The pledges of the new governor are to restore the exchange rate within a short period," noting that "my estimate of it will not exceed only weeks."

[6ly410]

 

[6ly410]

 

[6ly410]

 

[6ly410]

 

[Laid Back]

“The crisis of the rise in the dollar exchange rate is not related to the governor of the Central Bank, and his dismissal from office is not a solution to this crisis, and this exemption will not be a reason to reduce the dollar exchange rate in the local market, but this step may have serious negative consequences due to prejudice to the monetary authority." The rise in the dollar exchange rate is mainly caused by currency smuggling, and the dismissal of the Governor of the Central Bank, Mustafa Ghaleb is frightening, because the forces of the coordination framework target the bank's governors, for political purposes and reasons and not for any economic reason related to the rise in the dollar exchange rate.”

 

“The decision to dismiss the Governor of the Central Bank of Iraq, Mustafa Ghaleb Makhaif, was made by agreement between the leaders of the coordination framework and Prime Minister Muhammad Shia' al-Sudani, during their meeting, last night, at the home of the leader of the Al-Fateh Alliance." Hadi Al-Amiri.”

 

In my opinion they changed CBI governor to benefit Iran.

[Hotcurl]

12 minutes ago, Laid Back said:

In my opinion they changed CBI governor to benefit Iran.

I thought the same thing after I read the above and remembering that Ali Al-Alaq was Maliki's guy at the CBI in 2017.

Anything to do with the "Coordination Framework" is bad news from my perspective.. 

Regardless, the CBI still needs to deal with the US Fed.

 

Just sayin' ...................

 

Semper Fi 

[6ly410]

Economist: The change of the governor of the Central Bank is late and we are waiting for its reflection on the exchange of the dollar

•  Time : 2023/01/23 20:20:07
•  
• Economist: The change of the governor of the Central Bank is late and we are waiting for its reflection on the dollar exchange - Al-Furat News (alforatnews.iq)

  

{Economic: Al-Furat News} An economist considered the decision to change the governor of the Central Bank of Iraq "positive but late."

Rashid al-Saadi told Al-Furat News that "the measures that affected the management of the Central Bank should have been earlier, given the observance of jurisdiction."
He added, "The government has begun to take several steps, including reducing money smuggling, as well as supporting citizens with the food basket, which contributed to limiting the rise because foodstuffs are one of the most prominent materials that raise the exchange rate of the dollar."
He pointed out that "the security and reform operations carried out by the government led to remedying the situation thanks to successive decisions."
"So far, it is not possible to predict the rates of exchange rate decline or stability at any extent," Saadi said.
The Prime Minister, Mohammed Shia al-Sudani, today relieved the governor of the Central Bank of Iraq, Mustafa Ghaleb Makhif, from his post against the backdrop of the continued rise in the dollar exchange rate and the bank's inability to restrain it.
Al-Sudani assigned former bank governor Ali Mohsen Al-Alaq to run the central bank by proxy.
The Prime Minister also referred the Director of the Iraqi Trade Bank to retirement and assigned Rabal Al-Hamdani to manage the Iraqi Trade Bank in addition to his duties.

Raghad Daham

[6ly410]

 

[Danishere4news2]

This is more factual news that imo debunks F26 nonsense. Specifically that the former CBI governor was part of what F26 called the "fab 4". As well, all of the "supposed" meetings that WS's bank friends had with the former CBI governor & all of the "intel" that was obviously made up. Truth always comes out!

[Dinarrock]

2 hours ago, Laid Back said:

“The crisis of the rise in the dollar exchange rate is not related to the governor of the Central Bank, and his dismissal from office is not a solution to this crisis, and this exemption will not be a reason to reduce the dollar exchange rate in the local market, but this step may have serious negative consequences due to prejudice to the monetary authority." The rise in the dollar exchange rate is mainly caused by currency smuggling, and the dismissal of the Governor of the Central Bank, Mustafa Ghaleb is frightening, because the forces of the coordination framework target the bank's governors, for political purposes and reasons and not for any economic reason related to the rise in the dollar exchange rate.”

 

“The decision to dismiss the Governor of the Central Bank of Iraq, Mustafa Ghaleb Makhaif, was made by agreement between the leaders of the coordination framework and Prime Minister Muhammad Shia' al-Sudani, during their meeting, last night, at the home of the leader of the Al-Fateh Alliance." Hadi Al-Amiri.”

 

In my opinion they changed CBI governor to benefit Iran.

Yep just more of the same sure doesn’t look like an RV is in the process no matter what we read!! This new CBI governor was Maliki’s stooge, so if Sudani had any intentions of actually RVing their currency he would put in a guy that would actually do it not Maliki’s old guy! Also it wouldn’t take 3 months to actually do anything about the exchange rate as all it takes is less than one day to change the exchange rate and be done with it!! Looks like we are done once again for anything to happen soon!! 

[6ly410]

Economist for / Nina / : Changing the governor of the bank Something that was inevitable

Monday 23 , January 2023 20:40 |EconomicalViews: 188

Economist for / Nina / : Changing the governor of the bank Something that was inevitable (ninanews-com.translate.goog)

Baghdad/Nina/ The economic expert in the field of oil and energy, Mohammed Hawrami: The change of the governor of the bank .. Something that was inevitable to cause the current state of confusion. He told the Iraqi National News Agency (
Change was inevitable, because this confusion for more than a month for the national currency, whatever the reasons and names, whether external or local, is borne by the governor of the Central Bank and his administration .
Hawrami added: The governor and his management are decision-makers and he is the first and last responsible for saving the market and the currency from such confusion, while the bank enjoys large reserves of dollars and gold. He explained: The citizen is waiting for concrete steps for the new governor to restore the national currency to its position.

Prime Minister Mohamed Shia al-Sudanese on Monday relieved Central Bank Governor Mustafa Ghaleb Makhif, at his request. Ali Mohsen appointed Al-Alaq instead of him. /Ends3
 

[6ly410]

During his meeting with the American Ambassador .. Al-Hakim stresses the importance of flexibility in dealing with the determinants of dealing with the dollar

During his meeting with the American Ambassador .. Al-Hakim stresses the importance of flexibility in dealing with the determinants of dealing with the dollar (ninanews-com.translate.goog)

Monday 23 , January 2023 20:35 |PoliticalViews: 165

Baghdad /Nina/ The head of the National Wisdom Movement, Ammar al-Hakim, stressed the importance of flexibility in dealing with the determinants of dealing with the dollar and controlling its negative effects on the Iraqi dinar and the rise in prices. During his meeting with US Ambassador Elena Romaneschi, Al-Hakim called for a greater presence of the United States in the field of energy within a central administration through the federal government, praising the steps achieved in the field of electrical interconnection between Iraq and a number of countries in the region.

He also called for greater cooperation in the economic file between Baghdad and Washington and to invest in Iraq's openness to all from the constant of its national interests and the preservation of its sovereignty.
He explained that he discussed with the ambassador: developments in the political scene in Iraq and the region, as well as bilateral relations between Baghdad and Washington at the political and economic levels.
He added that: The successes reflected by the Gulf 25 Championship and changing them to wrong impressions of Iraq were also discussed, as well as the good impact it left on the hearts of Iraqis and their pride in their country.