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CBI warns of collapse of IQD...due to inflation


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CBI warns of collapse of IQD and the fall of the Iraqi economy; Inflation

November 14th, 2011 06:52 am · Posted in NEWS (Iraq & World Currency)

Warned the Iraqi Central Bank of the vicious circle of inflation in the Iraqi economy and the collapse of the currency in light of the economic data and inflation present in the next two years.

“Deputy central bank d. The appearance of Mohammed Saleh said that” the overall rate of inflation will continue to rise over the coming months, and will not do any good monetary policy instruments of the Central Bank in the restrained sense, because the supply of commodity and service is still absent from the local economic landscape. “

He added that “the continuing high rates of inflation below the 3% earlier this year to 7.6% currently, due to import sub-total for food products, which are bourse down to a wave of speculation, which led to high prices of these materials by 140% until the year 2011.”

He pointed to “waste and extravagance and corruption in the operating budget of the Iraqi state, the corresponding increase in the operational budget and a decline in production, as well as the waste in government expenditures of consumption as well as the purchase of furniture, cars, and the like,” noting that “the Bank monitors continuously levels inflation, and will not hesitate to intervene strongly in the event of a rise of two places decimal places or more over the monetary policy tools of Baharta exchange rate and interest of the Iraqi dinar “

The government said it would discuss the country’s budget for 2012 in preparation for approval and sent to the House of Representatives.

Government figures indicate that Iraq’s budget for next year will amount to 131 trillion dinars (About $ 112 billion), up 36% from the current year budget and a deficit of 23.3 trillion Iraqi dinars (20 billion dollars)

The government says the deficit will be covered by the amounts of cash retained from the current year budget 2011 is internal and external borrowing and the proportion of savings is expected to increase selling prices or increased oil production or borrowing from the IMF and the World Bank. “

The value of the current year budget which was approved on 20 February, of which $ 82.6 billion $ 25.7 billion of investments. Iraq has suffered from dilapidated infrastructure sectors in the overall result of long years of siege and war during the last two decades of the last century.

http://translate.google.com/translate?hl=en&prev=/search%3Fq%3Dnahrain%26hl%3Den%26client%3Dfirefox-a%26hs%3Dbh9%26rls%3Dorg.mozilla:en-US:official&rurl=translate.google.com&sl=ar&twu=1&u=http://www.uragency.net/ur/news.php%3Fcat%3Dnews%26id%3D5967

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“Central Bank of Iraq (CBI) is monitoring inflation indicators in Iraq and their gradual increase during

the last few months,” Saleh said. “CBI monetary policy is capable of containing inflation,” he informed. “The bank can therefore interfere swiftly to stop inflation in the event it reaches stages that shake stability at about two decimal ranks i.e. 10% or more,” he added.

http://************.com/2011/11/10/central-bank-of-iraq-to-curb-inflation-swiftly/

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CBI warns of collapse of IQD and the fall of the Iraqi economy; Inflation

He pointed to “waste and extravagance and corruption in the operating budget of the Iraqi state, the corresponding increase in the operational budget and a decline in production, as well as the waste in government expenditures of consumption as well as the purchase of furniture, cars, and the like,” noting that “the Bank monitors continuously levels inflation, and will not hesitate to intervene strongly in the event of a rise of two places decimal places or more over the monetary policy tools of Baharta exchange rate and interest of the Iraqi dinar “

Com'on "two places decimal places"!!! :twothumbs:

-

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With the news of inflation getting out of hand, Maliki going to Kuwait to resolve oustanding issues, and HCL needing one read to pass, I think it's the formula for RV.

(((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((( GO RV )))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))

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Hey guys... I think this is actually the opposite news we want to hear. The 2 decimal statement I believe is referring to "double digit" inflation concerns. Shabibi is basically calling Maliki to the carpet in this article and I doubt it will go over well with that tyrant. He is telling Maliki that his government is wasteful and corrupt and that if the GOI doesn't get their act together that he will have to use his "tools" of exchange rate and interest rate modification to combat inflation. The GOI needs to promote growth and investment and they are hindering it. Iraq still has to import most of the goods (aside from oil) and that creates a huge trade imbalance. Iraq needs to be creating new industry of goods and services to NOT be so one dimensional on oil. They are at the mercy of the world's rising import prices which adds fuel to the fire of the poor management of Iraq's revenue controlled by the GOI (Maliki)!

So Shabs is actually threatening to lower the exchange rate and increase interest rates to combat inflation. Crazy I know. I want this as bad as everyone but Maliki is running this ship into the ground.

Positive signs or articles to watch for are:

1. Amendment to the Investment Law of 2006

2. Increasing bank guarantee abilities for foreign investment

3. Significant infrastructure progress in particular with electricity

4. HCL passing and watching for citizen and local government dividends

5. Removal of Chapter 7

6. Modification arrangements with Kuwait regarding the debt to them being contingent on Ch. 7

7. Increased Iraqi lending opportunities for citizens

8. Filling final Ministry appointments

9. Introducing of the 100,000 notes and 50,000 notes into the currency

10. Maliki's eventual forced removal from office

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Hey guys... I think this is actually the opposite news we want to hear. The 2 decimal statement I believe is referring to "double digit" inflation concerns. Shabibi is basically calling Maliki to the carpet in this article and I doubt it will go over well with that tyrant. He is telling Maliki that his government is wasteful and corrupt and that if the GOI doesn't get their act together that he will have to use his "tools" of exchange rate and interest rate modification to combat inflation. The GOI needs to promote growth and investment and they are hindering it. Iraq still has to import most of the goods (aside from oil) and that creates a huge trade imbalance. Iraq needs to be creating new industry of goods and services to NOT be so one dimensional on oil. They are at the mercy of the world's rising import prices which adds fuel to the fire of the poor management of Iraq's revenue controlled by the GOI (Maliki)!

So Shabs is actually threatening to lower the exchange rate and increase interest rates to combat inflation. Crazy I know. I want this as bad as everyone but Maliki is running this ship into the ground.

Positive signs or articles to watch for are:

1. Amendment to the Investment Law of 2006

2. Increasing bank guarantee abilities for foreign investment

3. Significant infrastructure progress in particular with electricity

4. HCL passing and watching for citizen and local government dividends

5. Removal of Chapter 7

6. Modification arrangements with Kuwait regarding the debt to them being contingent on Ch. 7

7. Increased Iraqi lending opportunities for citizens

8. Filling final Ministry appointments

9. Introducing of the 100,000 notes and 50,000 notes into the currency

10. Maliki's eventual forced removal from office

DinarBot welcomes you to Propaganda 101. Good Desert Cop Bad Desert Cop. Bright minds working in Unison. But appearing otherwise. Just watch. Thank you Human known as "drox" for your research. Humans can dance better than any Chimpanzee.

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With the news of inflation getting out of hand, Maliki going to Kuwait to resolve oustanding issues, and HCL needing one read to pass, I think it's the formula for RV.

(((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((( GO RV )))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))

I meant to give you a plus!!! :( I'm so sorry!

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