Iraqis are waiting for the value of the Iraqi dinar to rise after decades of collapse

[yota691]

Advisor to the Prime Minister: A new strategy began with reforming the currency management system and optimists

• Time: 02/07/2023 15:24:44
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• Read: 260 times

  

{Economic: Al Furat News} The Advisor to the Prime Minister for Economic Affairs, Mazhar Muhammad Salih, revealed the start of a new strategy to reform the currency management system in the country.

 

A statement by the Ministry of Finance, which {Euphrates News} received a copy of, stated that Saleh participated during his participation in the scientific and analytical symposium held by the Financial and Accounting Training Center in the ministry today, Tuesday, entitled “The exchange rate of the Iraqi dinar against the dollar … problems and solutions” in cooperation with the Economic Studies Forum in The House of Wisdom, in the presence of Ahmed Al

- Dahlaki, Director General of the Financial and Accounting Training Center, and with the participation of a group of researchers, academics and specialists in financial and economic affairs, and under the supervision of Falah Thuwaini. Up and down, according to the effects of the overall situation in Iraq and the treatments to achieve balance and reduce the gap between supply and demand in the market.

Saleh explained, "The new strategy began with reforming the national currency management system and the Iraqi payment system," adding, "This will be the basis for implementing the strategy for reforming currency conditions in the foreseeable future."
And the advisor to the Prime Minister stated that "the Iraqi economy is strong and has large resources that qualify it to stand in front of foreign currencies if there is a correct economic and monetary policy, and political, economic and security stability," expressing optimism that "the Iraqi economy will stabilize, which will be reflected in the rise of the dinar against foreign currencies."

[6ly410]

Advisor to the Prime Minister: The Iraqi economy is strong and has great resources

Iraqi News Agency

 

Advisor to the Prime Minister: The Iraqi economy is strong and has great resources

 

Baghdad - The
financial adviser to Prime Minister Mazhar Mohammed Saleh said on Tuesday that the Iraqi economy is strong and has great resources that qualify it to stand against foreign currencies.

A statement by the Ministry of Finance received by the Iraqi News Agency (INA) stated that "the Financial and Accounting Training Center at the Ministry of Finance held a scientific symposium on the exchange rate of the dinar against the dollar entitled (The exchange rate of the Iraqi dinar against the dollar. Problems and Solutions) in cooperation with the Economic Studies Forum at the House of Wisdom, and in the presence of Dr. Ahmed Al-Dahlaki, Director General of the Financial and Accounting Training Center, with the participation of a group of researchers, academics and specialists in financial and economic affairs, and the supervision of Dr. Falah Thuwaini.
The statement pointed out that "the seminar, in which the Prime Minister's Advisor for Financial Affairs, Mazhar Muhammad Saleh, lectured, discussed the objective reasons that affected the fluctuation of the exchange rate of the dinar against foreign currencies up and down, according to the effects of the overall situation in Iraq and the treatments to achieve balance and reduce the gap between supply and demand in the market."
Saleh explained that "the new strategy began with reforming the national currency management system and the Iraqi payment system," noting that "this will be the basis for implementing the strategy of reforming currency conditions in the foreseeable future."
Saleh pointed out that "the Iraqi economy is strong and has great resources that qualify it to stand against foreign currencies if there is a correct economic and monetary policy and political, economic and security stability," expressing optimism that "the Iraqi economy will stabilize, which is reflected in the rise of the dinar against foreign currencies."

[6ly410]

Mazhar Mohammed Saleh: The Iraqi economy is able to withstand foreign currencies

 

Al-Eqtesadat News Agency - Mazhar Muhammad Saleh: The Iraqi economy is able to withstand foreign currencies (economy-news.net)

 

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Economy News / Baghdad

Financial adviser to Prime Minister Mazhar Mohamed Saleh confirmed on Tuesday that the exchange rate will be strong against other currencies soon.

Saleh said at a scientific symposium on the exchange rate that "the new strategy began with reforming the national currency management system and the Iraqi payment system," adding that "this will be the basis for implementing the strategy of reforming currency conditions in the foreseeable future."

"The Iraqi economy is strong and has great resources that qualify it to stand against foreign currencies if there is a correct economic and monetary policy and political, economic and security stability," Saleh said.

He expressed optimism that "the Iraqi economy will stabilize, which is reflected in the appreciation of the dinar against foreign currencies."

The seminar discussed "the objective reasons that affected the fluctuation of the exchange rate of the dinar against foreign currencies up and down, according to the effects of the overall situation in Iraq and the treatments to achieve balance and reduce the gap between supply and demand in the market."

[yota691]

Mazhar Muhammad Salih: The Iraqi economy is able to withstand foreign currencies

money and business
   

Economy News / Baghdad
The financial advisor to the Prime Minister, Mazhar Muhammad Salih, confirmed, on Tuesday, that the exchange rate will soon be strong against other currencies.

 

"The new strategy began with reforming the national currency management system and the Iraqi payment system," Saleh said in a scientific symposium on the exchange rate, adding that "this will be the basis for implementing the currency reform strategy in the foreseeable future."

 

And Saleh indicated that "the Iraqi economy is strong and has large resources that qualify it to stand in front of foreign currencies if there is a correct economic and monetary policy and political, economic and security stability."

 

 He expressed optimism that "the Iraqi economy will stabilize, which will be reflected in the rise of the dinar against foreign currencies."

 

The symposium discussed "the objective reasons that affected the fluctuation of the exchange rate of the dinar against foreign currencies, up and down, according to the effects of the overall situation in Iraq and treatments to achieve balance and reduce the gap between supply and demand in the market."

 

 

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Views 32

Added 2023/02/07 - 3:36 PM

Updated 2023/02/07 - 4:02 PM

[6ly410]

Advisor to the Prime Minister: The Iraqi economy is strong and has great resources

Posted 7 seconds ago

 Advisor to the Prime Minister: The Iraqi economy is strong and has great resources (iraqakhbar-com.translate.goog)

News Source /Iraqi News Agency (INA)

Baghdad - TheFinancial Adviser to Prime Minister Mazhar Mohammed Saleh said on Tuesday that the Iraqi economy is strong and has great resources that qualify it to stand against foreign currencies.

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A statement by the Ministry of Finance received by the Iraqi News Agency (INA) stated that "the Financial and Accounting Training Center at the Ministry of Finance held a scientific symposium on the exchange rate of the dinar against the dollar entitled (The exchange rate of the Iraqi dinar against the dollar. Problems and solutions) in cooperation with the Economic Studies Forum at the House of Wisdom, and in the presence of Dr. Ahmed Al-Dahlaki, Director General of the Financial and Accounting Training Center, with the participation of a group of researchers, academics and specialists in financial and economic affairs, and the supervision of Dr. Falah Thuwaini.The statement pointed out that "the seminar, in which the Prime Minister's Advisor for Financial Affairs, Mazhar Muhammad Saleh, lectured, discussed the objective reasons that affected the fluctuation of the exchange rate of the dinar against foreign currencies up and down, according to the Effects of the overall situation in Iraq and the treatments to achieve balance and reduce the gap between supply and demand in the market.
Saleh explained that "the new strategy began with reforming the national currency management system and the Iraqi payment system," noting that "this will be the basis for implementing the strategy of currency reform conditions in the foreseeable future."Saleh pointed out that "the Iraqi economy is strong and has great resources that qualify it to stand against foreign currencies if there is a correct economic and monetary policy and political, economic and security stability," expressing optimism that "the Iraqi economy will stabilize, which is reflected in the rise of the dinar against foreign currencies.”

[6ly410]

Saleh: The right economic and monetary policy with political stability leads to the strengthening of the national currency

Saleh: The right economic and monetary policy with political stability leads to strengthening the national currency – Iraq News Network (aliraqnews.com)

Last Updated: February 7, 2023 - 4:47 PM

Baghdad / Iraq News Network - The financial adviser to Prime Minister Mazhar Mohammed Saleh, on Tuesday, that the Iraqi economy is strong and has great resources that qualify it to stand in front of foreign currencies.A statement by the Ministry of Finance said that "the Financial and Accounting Training Center at the Ministry of Finance held a scientific symposium on the exchange rate of the dinar against the dollar entitled (The exchange rate of the Iraqi dinar against the dollar. Problems and Solutions) in cooperation with the Economic Studies Forum at the House of Wisdom, and in the presence of Dr. Ahmed Al-Dahlaki, Director General of the Financial and Accounting Training Center, and with the participation of a group of researchers, academics and specialists in financial and economic affairs, and the supervision of Dr. Falah Thuwaini. Saleh explained that "the new strategy began with reforming the national currency management system and the Iraqi payment system," noting that "this will be the basis for the implementation of the strategy of reforming currency conditions in the foreseeable future." foreign currency".

[Half Crazy Runner]

1 hour ago, yota691 said:

"the Iraqi economy will stabilize, which will be reflected in the rise of the dinar against foreign currencies."

Float…? 

[BETTYBOOP]

My gut says they will bring the dinar to.around 1100 and then float

[6ly410]

my gut tells me we will get a nice $$ RV  

[6ly410]

champagnes on ice.. lets go 

[6ly410]

of 1300 dinars per dollar

Counselor Mazhar Mohamed Saleh: The 2023 budget will adopt the new exchange rate

2023.02.07 - 17:54

Counselor Mazhar Mohamed Saleh: The 2023 budget will adopt the new exchange rate (nasnews.com)

  

Baghdad – Nas  

Mazhar Mohammed Saleh, Advisor to the Prime Minister for Financial Affairs, announced on Tuesday that the 2023 budget will adopt the new exchange rate of 1300,<> dinars per dollar.  

  

  

Saleh said in a statement to the official agency affiliated with "NAS", (February 7, 2023), that "the decision to amend the dollar exchange rate is commensurate with the rate of the current increase in the current account of the Iraqi balance of payments."  

  

He added that "the decision supports the availability of official foreign reserves supporting Iraq, which touched 115 billion dollars."  

  

"The decision to raise the value of the Iraqi dinar will combat inflationary activities and expectations, which have worsened in the last three months," he said.  

  

He pointed out that "the 2023 budget will adopt the new exchange rate of 130,100 dinars per <> dollars."  

  

Earlier today, the Council of Ministers approved the decision to amend the dollar exchange rate by the equivalent of 1300,<> dinars.  

  

The Prime Minister's Information Office said in a statement received by NAS (February 7, 2023), that "the Council of Ministers approved the decision of the Board of Directors of the Central Bank of Iraq to amend the exchange rate of the dollar against the dinar, equivalent to 1300 dinars to the dollar."   

 

[6ly410]

[6ly410]

Saleh: The 2023 budget will adopt the new exchange rate and the reserve rose to $115 billion

 

• Today, 17:48

A

Baghdad - Nassar Al-HajjFinancial Advisor to Prime Minister Mazhar Muhammad Saleh confirmed today, Tuesday, that the 2023 budget will adopt the exchange rate approved by the Council of Ministers, stressing that the decision is commensurate with the rise in the current account of the balance of payments, as well As supporting the rise in foreign reserves, which touched 115 billion dollars.

Saleh told the Iraqi News Agency (INA): “The decision to adjust the exchange rate of the Iraqi dinar against the dollar today is commensurate with the current rise in the current account of the Iraqi balance of payments to the gross domestic product of Iraq, which is currently about (positive 15%), which prompted monetary policy to the need to adjust the exchange rate and raise the external value of the Iraqi dinar.”He added, "The decision supports the availability of official foreign reserves supporting Iraq that touched 115 billion dollars, which provides standard coverage for Iraq's total foreign trade for about 20 months of imports, while the global average is three months."
“The decision to raise the value of the Iraqi dinar will also combat inflationary activities and expectations that have worsened in the last three months, as this time the Central Bank of Iraq followed a strict pattern of monetary policy patterns that combat inflation by maximizing the external value of the Iraqi currency, in order to impose stability in the general level of prices and its importance in stabilizing the monetary income of the public and maintaining living standards," he said.He pointed out that "With the offer, the federal general budget for the year 2023 will adopt the new exchange rate of 1300,1300 dinars against one dollar for the purposes of evaluating its revenues and expenses in foreign currency."
On Tuesday, the Council of Ministers approved the decision of the Board of Directors of the Central Bank of Iraq to amend the exchange rate of the dollar against the dinar, equivalent to <> dinars per dollar.

[6ly410]

Mazhar Mohamed Saleh: The budget will adopt the new exchange rate and the reserve rose to $ 115 billion

Al-Eqtesadat News Agency - Mazhar Mohamed Saleh: The budget will adopt the new exchange rate and the reserve rose to 115 billion dollars (economy-news.net)

   

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Economy News / Baghdad

The financial adviser to Prime Minister Mazhar Mohamed Saleh confirmed today, Tuesday, that the 2023 budget will adopt the exchange rate approved by the Council of Ministers, stressing that the decision is commensurate with the rise in the current account of the balance of payments, as well as supporting the rise in foreign reserves, which touched 115 billion dollars.

Saleh told the Iraqi News Agency: "The decision to adjust the exchange rate of the Iraqi dinar against the dollar today is commensurate with the current rise in the current account of the Iraqi balance of payments to the gross domestic product of Iraq, which is currently about (positive 15%), which prompted monetary policy to the need to adjust the exchange rate and raise the external value of the Iraqi dinar."

He added, "The decision supports the availability of official foreign reserves supporting Iraq that touched 115 billion dollars, which provides standard coverage for Iraq's total foreign trade for about 20 months of imports, while the global average is three months."

"The decision to raise the value of the Iraqi dinar will also combat inflationary activities and expectations that have worsened in the last three months, as this time the Central Bank of Iraq followed a strict pattern of monetary policy patterns that combat inflation by maximizing the external value of the Iraqi currency, in order to impose stability in the general level of prices and its importance in stabilizing the monetary income of the public and maintaining living standards," he said.

He pointed out that "with the offer, the federal general budget for the year 2023 will adopt the new exchange rate of 1300,<> dinars against one dollar for the purposes of evaluating its revenues and expenses in foreign currency."

On Tuesday, the Council of Ministers approved the decision of the Board of Directors of the Central Bank of Iraq to amend the exchange rate of the dollar against the dinar, equivalent to 1300 dinars per dollar.

28 views

Added 2023/02/07 - 6:25 PM

Update 2023/02/07 - 6:40 PM

   

[6ly410]

Sudan's financial advisor reveals the latest course of the decision to reduce the price of the dollar

\

Economy ,  2023/02/07 20:09,

Iraq Today (iraqtoday-com.translate.goog)

 

 

 

Baghdad-Iraq today:
Mazhar Muhammad Saleh, Advisor to the Prime Minister for Financial Affairs, announced on Tuesday that the 2023 budget will adopt the new exchange rate of 1300,<> dinars per dollar.

Saleh said in a press statement, "The decision to amend the exchange rate of the dollar is commensurate with the rate of the current rise in the current account of the Iraqi balance of payments."

He added that "the decision supports the availability of official foreign reserves supporting Iraq, which touched 115 billion dollars."

"The decision to raise the value of the Iraqi dinar will combat inflationary activities and expectations, which have worsened in the past three months," he said.

He pointed out that "the 2023 budget will adopt the new exchange rate of 130,100 dinars per <> dollars."

 

[6ly410]

Financial advisor to Sudani: The Iraqi economy is strong and has great resources that qualify it to stand against foreign currencies

[6ly410]

 

#العراق: Foreign reserves in the state treasury amounted to about 115 billion US dollars#الشرقية_نيوز

[screwball]

8 hours ago, 6ly410 said:

TheFinancial Adviser to Prime Minister Mazhar Mohammed Saleh said on Tuesday that the Iraqi economy is strong and has great resources that qualify it to stand against foreign currencies.

Hmmmm….what’s your interpretation? 

[3n1]

3 hours ago, screwball said:

Hmmmm….what’s your interpretation? 

 

ready to see iraq go toe to toe with the KWD ..... cheers

[rvmydinar]

3 hours ago, 3n1 said:

 

ready to see iraq go toe to toe with the KWD ..... cheers

[6ly410]

Sudan's financial advisor: Raising the value of the dinar came to fight inflation

Economic Agency News - Financial Advisor to Sudani: Raising the value of the dinar came to fight inflation (economy-news.net)

Mazhar Muhammad Saleh

 

 

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Economy News Baghdad

 

The financial adviser to the Prime Minister, Mazhar Mohamed Saleh, confirmed that the Central Bank's decision yesterday to raise the value of the dinar, is to fight inflation.

Saleh said, in an article published by the Iraqi Economists Network and seen by "Economy News", that the decision to raise the value of the Iraqi dinar against the dollar, is to fight inflation and combat inflationary activities and their expectations, noting that the Central Bank of Iraq has provided monetary means since 2020 to support public finances without the fiscal policy itself showing any financial adjustment in maximizing non-oil revenues or reducing the area of unemployment or poverty levels, but resorted to maximizing domestic borrowing to reach $ 20 billion provided by Central Bank of Iraq.

He added that the previous dollar exchange rate of 145 did not achieve its goals of development and stability, noting that Iraq's reserves amounted to $ 115 billion.

He stressed that annual inflation rose to about 10%, which necessitated the intervention of the Central Bank of Iraq to address it, by raising the external value of the Iraqi dinar, adding that foreign reserves cover 20 months to import goods while the global 3 months.

20 Views

Added 2023/02/08 - 9:22 AM

Update 2023/02/08 - 9:57 AM

 

 

[6ly410]

 

Iraq as made great strides in combating the financing of terrorism and money laundering

Posted 16 seconds ago

 

/ Sudanese advisor: Iraq has made great strides in combating the financing of terrorism and money laundering - Iraq News (iraqakhbar-com.translate.goog)

 

/ Baghdad / Follow-up

Advisor to the Prime Minister for Financial Affairs Mazhar Mohammed Saleh said on Wednesday that Iraq has "come a long way" in combating the financing of terrorism and money laundering.

Saleh added in an interview carried out by (Iraqi Media News Agency) that "last year the European Union removed the name of Iraq from the most dangerous countries and moved it from the gray list to the white list."

He added that "the measures practiced by Iraq in combating money laundering are good, despite the fact that the conditions of trade in Iraq in the last 20 years took place through irregular financing in most of its paragraphs, and this raised the ire of international prospects , especially the prospects for compliance with the conditions of global institutions.

And he stated, “Most of the foreign transfers made by Iraqi banks are supposed to be transparent, and on this basis (the central bank platform) was formed, which rejected thousands of money transfers because they do not use the correct mechanisms.”

He pointed out that "the Central Bank has an important lever that it launched to facilitate the freedom of external transfer through the international banking system and financial institutions that are subject to compliance, and there is cooperation between Iraq and those agencies, especially the Financial Action Organization, so Iraq is complying with this cod and needs some time to change some things."

The advisor to the prime minister for financial affairs explained that "international Iraqi cooperation continues and will reflect positively on the price of the Iraqi dinar."

[yota691]

Experts: Money laundering traffickers turned to three activities in the Iraqi markets

2023.02.08 - 08:46

 

Baghdad - Nas  

Economic experts expressed optimism about the procedures of the competent authorities in the fields of combating money laundering and preventing the financing of terrorism, while one of them revealed the current destinations for money laundering traffickers in the Iraqi markets.  

  

  

  

The Advisor to the Prime Minister for Financial Affairs, Mazhar Muhammad Salih, said in an interview with the official newspaper, followed by “Nass” (February 8, 2023), that “Iraq has made great strides in combating the financing of terrorism and money laundering,” noting that “last year the European Union raised the name of Iraq.” One of the most dangerous countries and moved from the gray list to the white list.  

  

He added, "The measures practiced by Iraq in combating money laundering are good, despite the fact that the conditions of trade in Iraq in the last 20 years took place through irregular financing in most of its paragraphs, and this raised the ire of international prospects, especially the prospects for compliance with the conditions of global institutions."   

  

And he indicated that "most of the foreign transfers made by Iraqi banks are supposed to be transparent, and on this basis (the central bank platform) was formed, which rejected thousands of money transfers because they do not use the correct mechanisms."   

  

For his part, the economist, Dr. Qusai Safwan, stated that "the process of combating money laundering falls within the responsibility of the Central Bank of Iraq in detecting the army of money that enters the banking system in the country."  

  

He added, in an interview with the official newspaper, that there are a set of conditions, and the owner of the Iraqi dinar is supposed to be asked (from where did you get this dinar?) for the purpose of entering the Iraqi electronic platform.  

  

He explained that "the banking procedures were accompanied by many violations due to the system of dividing the coefficient into more than one customer and the process of moving accounts between customers, as well as the difficulty of knowing the commercial companies whether they are real or fake?", noting that "the problem is: Where does the Iraqi dinar come from?" .   

  

Safwan pointed out that "Those who trade in money laundering today have turned to the real estate market, gold, and the cash dollar that is outside the banking system, and certainly the Council of Ministers is required to open an office inside the real estate market, and open the files of foreign real estate transfers that took place in recent years to find out (where it came from). Iraqi dinar) through which many properties were purchased in neighboring countries and countries of the world with Iraqi money.   

  

He pointed out that "the sooner the terms of the US Treasury are complied with in a quick manner and we encourage Iraqi banks to obtain documentary credits, we reconsider the issue of customs and taxes that are imposed on merchants for the purpose of import - especially in previous years because they are afraid to enter the auction for selling the currency for fear that they will incur previous debts and a discount." Taxes and customs - all of this will contribute to lowering the price of the dollar."  

[6ly410]

 

Reducing the dollar exchange rate to 130 thousand. Benefit to the citizen and increase the budget deficit in 2023

Posted 10 seconds ago

 

AReducing the dollar exchange rate to 130 thousand. Benefit to the citizen and raise the budget deficit 2023 - Iraq news (iraqakhbar-com.translate.goog)

 

News Source /Baghdad Today

News source

Baghdad Today - Follow-up

The expected decision to change the exchange rate of the dinar against the dollar implemented many aspects, including positive and negative, according to economists, the first is to reduce inflation and benefit the citizen, and the other is to raise the budget deficit, which will return the state to borrow, if there is no rationalization in government spending.

The government's advisor for financial affairs, Mazhar Mohamed Saleh, told the official news agency that the decision to reduce it was "necessary" to curb inflation and that it was timely.

But economist Nabil Al-Marsoumi explained that "the recent decision of the Council of Ministers and the Central Bank is a political decision rather than an economic decision, as economically the decision to change the exchange rate is often in the interest of combating inflation, but It is one of the most difficult and complex measures, and its negative repercussions are expensive, and it is not recommended to take it until after meeting difficult economic conditions to achieve it.

Al-Marsoumi adds, “Changing the exchange rate of the Iraqi dinar against the dollar, by a large difference from the previous exchange rate, will lead to serious repercussions on the Iraqi economy, as it will significantly raise the deficit within the budget, and this coincides with a gradual decline in oil prices, as in 2022 Iraq’s monthly oil revenues were It amounts to 10 billion dollars, while during the current year it amounted to 7 billion dollars per month, and therefore it is hoped that the revenues of Iraq for this year will decrease by 30 billion dollars.

While the economist Qusai Safwan believes, during an interview with “the same newspaper,” that “there is a demand for the dollar in the parallel market, by irregular traders and companies, that do not adhere to the standards of the Central Bank and the US Treasury, but at the same time will allow exchange rates Low prices for giant companies competing strongly in the Iraqi market, and this will force irregular companies to raise their prices, according to the high parallel market exchange rate.

And the economist, Salam Sumaisem, stated that “the exchange rate is not a government decision, but rather a product of economic policies and reform measures that cause an “adjustment” of the exchange rate.

She added, "This reduction will lead to some people getting a dollar (at a reduced price), and selling it at a higher price to people, indicating that "the difference between the two prices will be high, which leads to new inflation that hits the economy."

The decision to reduce the exchange rate of the dinar comes after the Turkish city of Istanbul witnessed, last Friday, the conclusion of the meetings of the Central Bank of Iraq with the US Treasury, and according to a statement by the Central Bank, the US The Department confirmed its support for achieving economic stability in Iraq by the Treasury, and expressed its readiness for the flexibility necessary to achieve common goals, in addition to a phone call held between Prime Minister Muhammad Shia Al-Sudani and US President Joe Biden, by the White House. , which included discussing the economic agenda of the Prime Minister and his plans to ensure that the Iraqi economy is met. to the needs of Iraqis, and the willingness of the United States to fully support his policy.

[6ly410]

International economic advisor to "Tigris": The decision to reduce the price of the dollar to 1300 dinars is a wrong decision

International economic advisor to "Tigris": The decision to reduce the price of the dollar to 1300 dinars is a wrong decision| Economy | Dijlah Satellite Channel

 - 08-02-2023 10:56 PM - Views: 86