Parliament Finance: Three months against the dollar to return it to the official exchange rate

[yota691]

Parliament Finance: Three months against the dollar to return it to the official exchange rate

Yesterday, 19:49

 

Al-Ghad Press/Baghdad
The Parliamentary Finance Committee reported today, Thursday, that within the next three months, the dollar exchange rate will be restored to its official rate.

 

Committee member Moeen Al-Kazemi said in a television interview followed by Al-Ghad Press, “Iraq opened remittances to import necessary materials, and the Central Bank of Iraq provided approximately 80 percent of the Iraqi market’s needs with official fundamentalist remittances.” 

 

He added, "There remains 20 percent in the black market for which the Central Bank cannot issue a transfer due to imports from countries banned by the US Federal Reserve. Therefore, merchants concerned with obtaining dollars from the black market resort to the parallel market, which leads to this significant increase." 

 

He continued, "The Central Bank delayed financing its funds from the American side for two periods, and this is considered an obstruction to the work of the Central Bank and the economic situation in Iraq."

 

He pointed out that “the American and Treasury restrictions have a pressing impact on the flow of the Central Bank’s work, so important measures have been put forward, including facilitating the tax issue for merchants in a way that encourages what is required, that is, the one who pays these taxes, to review the tax authority, pay what he owes, and settle what he owes over the previous period,” pointing out “This procedure is important and is one of the things that encourages the trader to enter the currency window instead of going to the parallel market, which leads to a gradual reduction in the price of the dollar.”

 

He pointed out that "over the next three months, the dollar exchange rate will be gradually restored to its official rate."

[steveh12]

When do they really start? 🙄

[keylime]

3 hours ago, yota691 said:

Parliament Finance: Three months against the dollar to return it to the official exchange rate

Yesterday, 19:49

 

Al-Ghad Press/Baghdad
The Parliamentary Finance Committee reported today, Thursday, that within the next three months, the dollar exchange rate will be restored to its official rate.

 

Committee member Moeen Al-Kazemi said in a television interview followed by Al-Ghad Press, “Iraq opened remittances to import necessary materials, and the Central Bank of Iraq provided approximately 80 percent of the Iraqi market’s needs with official fundamentalist remittances.” 

 

He added, "There remains 20 percent in the black market for which the Central Bank cannot issue a transfer due to imports from countries banned by the US Federal Reserve. Therefore, merchants concerned with obtaining dollars from the black market resort to the parallel market, which leads to this significant increase." 

 

He continued, "The Central Bank delayed financing its funds from the American side for two periods, and this is considered an obstruction to the work of the Central Bank and the economic situation in Iraq."

 

He pointed out that “the American and Treasury restrictions have a pressing impact on the flow of the Central Bank’s work, so important measures have been put forward, including facilitating the tax issue for merchants in a way that encourages what is required, that is, the one who pays these taxes, to review the tax authority, pay what he owes, and settle what he owes over the previous period,” pointing out “This procedure is important and is one of the things that encourages the trader to enter the currency window instead of going to the parallel market, which leads to a gradual reduction in the price of the dollar.”

 

He pointed out that "over the next three months, the dollar exchange rate will be gradually restored to its official rate."

So maybe the first of the year they will RV once they take care of this situation 

[HowieC]

So is this before or after they kick the Iranian puppet governor out of the CBI ?  

[BETTYBOOP]

This will run into 2024. 

[horsesoldier]

These idiots couldn't stick to a timetable if we're super glued to their lazy butts.

I'm going with " whenever"

[rvmydinar]

3 hours ago, yota691 said:

He pointed out that "over the next three months, the dollar exchange rate will be gradually restored to its official rate."

I amn't going to get excited yet. Just wonder , what does " Official Rate " mean according to Iraq definition? Hopefully , it isn't the rate 1,310.

[CSM (R) Thack]

43 minutes ago, BETTYBOOP said:

This will run into 2024. 

No doubt!!👍🏻🇺🇸

[horsesoldier]

17 hours ago, CSM (R) Thack said:

No doubt!!👍🏻🇺🇸

I recall numerous articles way back stating 2025 would be their timeline for consideration of a major exchange rate change.

If so, 2024 should be quite a year for delays, postponements, hurling accusations hither & yon, sand bagging, foot dragging & EPIC excuses.

Of course we can't believe a damn thing these pathological liars say:20 years in this Circus 🎪 have shown us plenty verbal . As we say in the Cavalry... prepare to standby.

 

[screwball]

⏰

[Sage449]

"He pointed out that "over the next three months, the dollar exchange rate will be gradually restored to its official rate."

Which is exactly how much? 

[screwball]

8 minutes ago, Sage449 said:

"He pointed out that "over the next three months, the dollar exchange rate will be gradually restored to its official rate."

Which is exactly how much? 

anyone guess

[3n1]

1 hour ago, Sage449 said:

"He pointed out that "over the next three months, the dollar exchange rate will be gradually restored to its official rate."

Which is exactly how much? 

 

 im thinking the official cbi rate is 12 something , but im looking for the pre Saddam invasion of Kuwait iqd rate not the quasi devalued gulf war iqd rate of year 1990 or there bouts .... heres hoping

[southbeach]

It depends on what their definition of official is.

[horsesoldier]

9 hours ago, southbeach said:

It depends on what their definition of official is.

EXACTLY 💯 

[horsesoldier]

9 hours ago, southbeach said:

It depends on what their definition of official is.

If it's anything like soon or in the coming days, we gonna be in for very long wait 

[Laid Back]

On 9/22/2023 at 8:11 AM, BETTYBOOP said:

This will run into 2024. 

And Beyond.!!!

 

Still a lot of work to do.

 

-Diversification of the economy 

-Development of Private, industrial and Agricultural sector

-Development of banking sector

-Census 

-WTO 

-Important Laws 

-New CBI Building

 

I started a thread in 2019 ( Why I believe our wait will be longer ) Four years later and we are still waiting.

 

Just my opinion.!

 

 

[yota691]

Parliamentary Finance Committee: The dollar crisis is on its way to a final solution

Economy

12:00 - 2023-09-24

Today, Sunday, the Parliamentary Finance Committee revealed an unannounced government movement to end the dollar crisis and the rise in the exchange rate in the parallel market.

Committee member Moin Al-Kazemi said, “The dollar crisis is on its way to a final solution, because there is a real government movement towards this issue.”

Al-Kadhimi added, “The crisis of the rise in the dollar exchange rate in the parallel market will witness a final solution during the coming period, but this matter needs some time, and the monetary authority in the Iraqi state is working on that, and there will be tangible results in this file.”

[Dretown39]

2 hours ago, yota691 said:

Parliamentary Finance Committee: The dollar crisis is on its way to a final solution

Economy

12:00 - 2023-09-24

Today, Sunday, the Parliamentary Finance Committee revealed an unannounced government movement to end the dollar crisis and the rise in the exchange rate in the parallel market.

Committee member Moin Al-Kazemi said, “The dollar crisis is on its way to a final solution, because there is a real government movement towards this issue.”

Al-Kadhimi added, “The crisis of the rise in the dollar exchange rate in the parallel market will witness a final solution during the coming period, but this matter needs some time, and the monetary authority in the Iraqi state is working on that, and there will be tangible results in this file.”

HURRY UP!!😆

[rvmydinar]

3 hours ago, yota691 said:

Parliamentary Finance Committee: The dollar crisis is on its way to a final solution

The solution is just fired the current governor of the CBI in exchange with a new governor of the CBI who is more capable and dares to do the exchange rate reform quickly without delay and more excuses.

[3n1]

3 hours ago, yota691 said:

coming period, but this matter needs some time,

 

just not feelin it , their news to the citizens is always so vague and murky .... but hopeful 

thanks for always bringin it Yota

[Carrello]

21 minutes ago, rvmydinar said:

The solution is just fired the current governor of the CBI in exchange with a new governor of the CBI who is more capable and dares to do the exchange rate reform quickly without delay and more excuses.

From now on I will think of you as the Fool of Facts. Good luck.

 

[T B]

as always they will kick the can on down the road! and say thibgs to make the people have hope!

[BETTYBOOP]

6 minutes ago, Carrello said:

From now on I will think of you as the Fool of Facts. Good luck.

 

🤣🤣🤣🤣🤣 Love it ! Totally agree some people have no common sense or understanding  of any of this. If it was that easy it would have been done years ago. 

[rvmydinar]

17 hours ago, Carrello said:

From now on I will think of you as the Fool of Facts. Good luck.

 

I Wish he will be removed from office at once.