OKay so this one seems bad because it is weakening their money but that is the first step to them pulling away all together which is what we want, pull away from the dollar and peg to oh I don't know gold? hahaha Maybe a basket of currencies? I don't know
Iraq begins in 2016 to cut its currency against the dollar
LINK
Twilight News / fear the economic and financial circles Iraqi that leads the Iraqi Central Bank's decision to reduce the value of the dinar against the dollar as of yesterday, to the detriment of large slices of society, particularly those with limited income, in the event of rising inflation and the change of goods and prices of goods in the domestic market.
Predicted quarters exceeded the dollar exchange rate level set by the «Central» in his decision and of 1190 dinars to the dollar, as it exceeded the exchange rate is currently 1 400 dinars, which will weaken the purchasing power of citizens, as quickly prices will rise to levels that do not actually correspond to the differences in the exchange rate.
He said the Finance Committee in the House of Representatives member Ahmed Hama Rasheed The decision to reduce the value of the dinar against the dollar is not new, and was introduced two months ago, but Central has not been announced, but revealed gradually.
He added that «the parliamentary Finance Committee discussed ways to raise the value of the dollar without causing overwhelm the local market », pointing out that he called for the preparation of a comprehensive study of the file.
He added that «the parliamentary Finance Committee discussed ways to raise the value of the dollar without causing overwhelm the local market », pointing out that he called for the preparation of a comprehensive study of the file.
He explained that «the Commission prepared a study with a financial advisors about the lifting of government support for the dollar in the form of a gradual, and the coming days will witness changes in monetary policy, as there are benefits to be reaped from the government by reducing the value of the dinar».
She stressed the parliamentary finance committee member Majda al-Tamimi said in a statement that «the devaluation of the dinar against the dollar and other foreign currencies, is considered one of the alternatives for external borrowing, and allows the state to secure the employees' salaries and control over spending, and thus reduce the fiscal deficit».
Experts concerned and expressed other points of view, some of them stressed the importance of addressing the challenges facing the country now, especially since its economy depends on the proceeds of the single-supplement the annual budget.
And he saw the prime minister for economic affairs adviser appearance of Mohammed Saleh in a statement to «life» that «the decision to reduce the value of the dinar is part of the protectionist policies taken at the financial level, but must be accompanied by measures relating to the availability of a national industry activist with a rise in the pace of domestic production, as a substitute for importer and meets the need of the local market. »
He added that «the country is suffering from a cash shortage and flows of liquidity, not a shortage of other resources and energies and potential, there are many areas that require huge sums of money, including military operations against terrorism that drain huge sums, along with the need to monitor allocations for the reconstruction of the liberated areas, What increases the civil costs within the wheel of the national economy. » He pointed out that «the government has taken during the last period austerity measures, including stopping projects that have not achieved an advanced completion rates, and until such time as the availability of financial liquidity», (When will that be?) hahaha stressing the need to support the international community for Iraq to help in the reconstruction of infrastructure in the liberated areas. He pointed to the international trends to provide financial grants by the United Nations to help Iraq to cross the stage is going through. (See the UN wants them to borrow money so they can keep Iraq on a leash)
He stressed a spokesman for the Ministry of Planning and Development Cooperation Abdul-Zahra al-Hindawi said in a statement to «life», the need to resort Iraq to external borrowing to cover the deficit and financing for development and increase economic growth, which fell from 8 to 1 percent, and reducing unemployment and poverty. She noted the draft general budget for 2016 to the parties that the government would resort to borrowing them, including «International Monetary Fund» which will lend Iraq $ 1.2 billion, and »National Bank of Qatar» that Iraq will lend 1.8 billion.
He added: «It is natural to be the lenders conditions to ensure the recovery of funds, but some occur political for those conditions in a language, but in the end we have no choice but to get the loans to ensure the continued development wheel rotation, and perhaps it is useful to internal loans point to be considered it less burdensome on the economy, although the economic impact is less than that of Foreign because it is a transfer of purchasing power from the citizen to the government. »
Nexy
Save the Iraqi economy by adopting smart (privatization program (Part I)
Mohammed Tawfiq Allawi / Save the Iraqi economy by diversifying income sources through smart privatization programs within the provision of the culture and environment of economic and social well-developed and highly trained and interactive scheme
There has been a clear trend since the seventies of the last century by many developing countries and a communist countries towards privatization, has faced a lot of countries a lot of negative effects, problems and difficulties and obstacles and suffering because of their lack of similar experiences, but after a period ranging from two to four decades of Time to start privatization programs in many developing countries and the communist camp available to us rich experiences can be adopted to take the right steps in order to achieve the best results and to avoid the negative effects and a lot of problems and difficulties and obstacles, including became known (Smart Privatisation) Smart privatization
The most dangerous may be encountered privatization process is the privatization of public companies and factories without a detailed planning process and deliberate, without providing an interactive environment on many levels as well as training and development and restructuring the curricula, you must take these steps, starting before going into the privatization process, because it otherwise would be effects a very large negative social repercussions and serious, and we will suffer for several decades of increasing the suffering of the citizens and rampant corruption, but can be reflected negatively on the economy in the near term.
There are three areas can be planned in the trend towards privatization in Iraq, namely:
1.toger society towards a culture of privatization and towards the establishment of the private revive and stimulate the private sector and the mixed sector projects
2._khas_khash state-owned companies (General)
3._khas_khash the Ministry of Industry Coefficient
1. Community directed towards a culture of privatization and towards the establishment of the private revive and stimulate the private sector and the mixed sector projects:
Community directed towards a culture of privatization and some private sector projects where there are two levels of projects, the level of small and medium enterprises and the level of large-scale projects:
The level of large-scale projects: where large-scale projects can be created as companies within the mixed sector contribution circle in several areas, where the state is able to create a large-scale projects and but unable to manage them efficiently. It requires the provision of:
1.jelb international consultancy firm to work the required studies for the establishment of such projects with the provision of the prerequisites for the establishment of these projects and the work of feasibility studies.
2.aaadh restructuring of the economy in line with the success of these projects, be this through coordination between the international consultancy organizations and institutions of the state's economic and financial institutions and international cash.
3.aaadh consideration and coordination with higher education institutions, universities and scientific research institutions, to direct the studies of these trends, but dispatch of the students may be required within the full program of the required disciplines outside of Iraq and the provision of these studies inside Iraq in the next phase.
4.anchae specialized institutions for scientific research, as well as the order requires the establishment of scientific institutions to develop standards (Standards) industrial and agricultural products and construction and this is what is lacking now dramatically.
5.tfiel role of standardization and quality control and expand the circle and bring international expertise to develop the required standards to meet all the requirements for the establishment of high-quality production base.
The state is now in a difficult economic situation, but the work of these studies necessary ground and the provision does not cost high amounts, it is a small amount compared with the desired results, and the establishment of such a project provides a ground-economic necessary to give loans by various international banks the benefits of proper operation of the economy for the benefit of the country and the interests of citizens, but it is available only on condition that a high degree of transparency. The country may lack the administrative staff to create these projects at both levels, the public sector level and the level of the private sector, so it is important to manage these projects in the first period by the international consultancy firm to provide staff when necessary for the management of these projects,
The above subject is the sixth episode (Part I) of the series (how to save our country from collapse) / There are four other parts will go down successively as the previous six episodes present on the link: Mohammedallaw I.com
Next One
Iraqi company wins' Sasemez "Global Smart Card provided for displaced people and displaced
Twilight News / company "in order to Card" smart card announced on Saturday won Sasemez International Prize which is held annually in Paris and dedicated to honoring the best innovations in the world of payment security technology.
The company said in a statement responded to Twilight News, that the recent ran for the joint venture in Iraq category in honor of its success in innovation to address the humanitarian crisis solutions by providing cards (Ki-Card) to facilitate the distribution of aid to the displaced, displaced persons and groups other inside Iraq.
The statement said that the project won international attention because it is the result of successful cooperation between the public and private sectors to find a solution to the problem is not limited to Iraq, but also provide a safe way to distribute financial aid to displaced people and refugees to help them provide the basics of living.
The statement pointed out that the company is for the first time in Iraq's history to win an Iraqi company operating inside the country's international award has been shared in this achievement a number of banks, including Rafidain and Rasheed largest banks State government in Iraq.
The Iraqi government has awarded the displaced families and destroyed after the control of the terrorist organization Daash the towns and regions amounts million Iraqi dinars it is it confined Altzlmt smart card to prevent cases of fraud, corruption, bribery and extortion, which may be exposed to those families.
That's it for now...
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