I am hoping this is the announcement made like Kuwait did, they made an announcement like this and then RV'd the next day
Bonds and Iraqi oil reserves of solutions to cover the salaries of staff
LINK
BAGHDAD - Star Gazan
9/1/2016
Confirmed to the economic and investment commission in Parliament that the number of employees in government institutions is three million and two hundred and seventy thousand and sixty-nine employees, (3027069), and they need to pay during 2016, pointing out that the government is moving to the disbursement of funds from the oil reserves of the financial value of 59 billion in addition to the issuance of securities.
Said committee member Najiba Najib's (Journal) that "the government is moving to the salaries of staff coverage during the 2016 oil reserves amounting 59 billion dinars in addition to the issuance of securities from banks, showed that the number of employees who are in need of salary this year of three numbers million and two hundred and seventy thousand and sixty-nine employees ".utabat that" the central government is able to cover salaries during 2016 through these procedures, and showed that some media and means of seeking to change the course of the economy for the purpose of raising the value of the dollar, and indicated that salaries were not there by any financial fears or budget deficit. "
ENDParliamentary calls "a major economic revolution" in Iraq
LINK
BAGHDAD / Obelisk: he called the Parliamentary Finance Committee member Hossam punitive, Saturday, to start a major economic B'thorh 'to face the current financial crisis experienced by the country, while stressing the need to launch a' major campaign 'to support the national industry.
He said punitive in a statement published by the local media and I followed 'Obelisk', that 'the current financial crisis we are experiencing requires a concerted and cooperation of all the faithful in order to overcome them and move forward in the country to the ranks of developed countries, there are several proposals that would add considerable financial resources into the treasury of the State of Iraq' , pointing out that 'among those proposals is to launch a major campaign to support the national industry and stop the import of products that have local alternatives'.
Punitive and urged the importance of 'Activating tariff in all border crossing points, including the Kurdistan region, and stimulate the private sector by starting to contract with major international companies to implement a number of residential, service and health projects and even security in a way payment on credit, which will provide many job opportunities and reduce the pressure on the rate Government to create jobs and reduce unemployment. "
Punitive and called for the 'need for the Government with the help of experts of finance and economy and to begin a major economic revolution to save the country from a bad financial situation and meet the aspiration and hopes of the citizens', demanding B'alasraa to resolve this serious file and not to cause obtaining a severe crisis that could lead us into the abyss'.
The punitive 'the importance of reviewing auction currency at the central bank and find other means to keep the Iraqi dinar exchange rate, and the launch of an internal bonds for citizens and an interest rate of not less than 7% instead of the foreign loans of up Voidha to more than 10%'.
The House of Representatives voted in (December 16, 2015) by a vote of those present on the draft budget law for fiscal 2016 valued at more than 105 trillion dinars, and a deficit of more than 24 trillion dinars, considered on the basis of the price of a barrel of oil to 45 dollars.
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Raed al-Hashemi: delete the zeros will lead to queues in banks to replace banknotes
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BAGHDAD - A peace Zidane
Date: January 9, 2016 Stressed economist Raed al-Hashemi, the deletion of zeros from the local currency needs to be political, security and economic stability, noting that the feminine currency will lead to the feminine economy and facilitate the process of the payments system and raises the value of the currency.
Hashemi said in a dialogue with the (Journal), that "the economic environment you need to create a thoughtful to apply the deletion process through procedures and financial and banking decisions made by the financial authority in the country ".
* raise zeros from the Iraqi currency has a benefit of the Iraqi economy?
- The process of deletion of zeros is a necessary and important step comes as part of the need for the process of administrative reform of the coin contribute -lo been correctly applied with a choice of Almnasp- time in reducing transaction costs and cash transactions in the economic process, and reduce the money supply in the country's size and to facilitate the calculations and reduce the inflating figures not to mention that the issuance of small groups will facilitate policy accounts price.
* What is the correct mechanisms that must be followed until the process of lifting the zeros?
-there are several mechanisms including the selection of the appropriate timing at which the Iraqi economy (one-sided) in a state of stability and economic environment and to create a thoughtful to apply the deletion process and this needs to be procedures for financial and banking and the decisions taken by the Authority Finance in the country, and the need to create a media and psychological community to accept such a decision by the intensive media campaigns before proceeding with implementation, and the implementation of the resolution on the stages of time and leeway enough fear of the events of confusion in the Iraqi market.
* What are the concerns of the adoption of the process of lifting the zeros?
-ary a lot economists that the process of deleting three zeros will lead to chaos and confusion in the domestic market and the spread of the phenomenon of "monetary illusion" because there are "two currencies" old and new and Sastglha traders to raise the goods and prices of goods.
as well as the fear of occurrence of chaos in the Iraqi street and stand in a new queues at the gates banks to replace the current Iraqi banknotes with those of the new banknotes. Which will contribute to the emergence of speculators on the black market, taking advantage of the chaos that will arise from the process of the currency switch. As well as there are fears of counterfeiters and (mafias) money laundering and smugglers currency who will take advantage of the new situation in the "wash" the old Iraqi dinars counterfeit and replaced by new or smuggling of genuine Iraqi dinars out of the country for the purposes of terrorism and organized crime, which will lead to lethality economic security of Iraq .
* Do you think that the lifting of the zeroes will affect the economy and social stability?
- Yes affect by reducing its currency and thus will lead to the feminine Iraqi economy and facilitate the Iraqi payments system process and raise the value of the currency at least partially slow, and will affect the process in the creation of a worker and myself technician can play a positive role in strengthening the Iraqi dinar, provided that combined with a package of measures to take coordinated and good policies between monetary and fiscal authorities and other episodes concerned the economy.
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Central bank: No intention to amend the Iraqi dinar exchange rate
LINK
2 articles combined in one
The Central Bank on Saturday, the lack of intent to amend the Iraqi dinar exchange rate, pointing out that the devaluation of the dinar would lead to damaging the purchasing power of citizens. The bank said in a statement seen Agency Nun, news reporting, it, it was "no intention to amend the dinar exchange rate and what is authorize otherwise of any person or entity has not considered particularly after it has been installed price in the budget agreement with the Government and the International Monetary Fund. "The statement added that" the central bank is well aware that any reduction in the value of the dinar meant damaging the purchasing power of citizens because most of their needs imported. "The prime minister Haider al-Abadi said earlier, that the Iraqi currency backed strongly there is no fear on the dinar exchange rate against the dollar, as he pointed to the existence of" manipulation and conspiracy "to influence the current situation.
Alsumaria News (uses google translation)LINK
Central bank: no intention to amend the Iraqi dinar exchange rate The Central Bank on Saturday, the lack of intent to amend the Iraqi dinar exchange rate, pointing out that the devaluation of the dinar would lead to damaging the purchasing power of citizens.
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.. Soon launch the electronic passport project in Iraq
Iraq today
Iraqi Interior Minister Mohammed Salem Al Ghabban announced Saturday near the launch of the ePassport and electronic gates at border crossing points in the country.
And between Ghabban he 'worked on the launch of a unified national card project and will have significant effects on security and provide services to citizens' adding that' this project began to expand gradually to cover the north and south. "
He added that the project 'passports and electronic gates at border crossing points we are launching into a single package soon'.
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Executive Director of the Iraqi market for securities emphasizes the need for the establishment of investment fund
BAGHDAD / Karim Jassim al-Tai / .. Executive Director of the Iraqi market for securities, Taha Ahmed Abdul Salam stressed the need to encourage the establishment of investment funds in Iraq.
Abdel-Salam said in a statement singled out by the Agency / KD / The market gave the Central Bank of Iraq and the Securities Commission's proposals concerning the organization of portfolio management by banks. Noting that these proposals will be part of the promotion of the establishment of investment funds in Iraq.
He said Abdul Salam said Iraq still lacks investment funds .msheera that the usefulness of investment funds are to accommodate small cap and capital shareholders, investors and the few that are called (small investors) It is possible to combine and form the investment fund is intended to be a development fund or exploited by establishing project contributes to the reconstruction of infrastructure in Iraq is that the securities belonging to the fund in the Iraq Stock Exchange trading.
Abdul Salam said that the market will be in collaboration with the Central Bank of Iraq during the current year drawers non-listed banking companies. Noting that there are a number of banking companies are still tarried in providing us with the requirements of drawers and a run, the most important financial data in the timing so that we can fully inclusion of this sector within the market. / End
A planned visit by an Iranian delegation to the Kurdistan Region to sign oil and gas agreement
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Roudao - Arbil,
said Chairman of the Committee on Industry and Energy in the province of Sulaymaniyah, Ghalib Mohammed, for anticipation visit of the delegation of Iran to the Kurdistan region, noting that the agreement with Iran on the supply of oil and gas pipelines, pending the signing of the agreement only. Said Ghalib Mohammed, the network Roudao media , "The previous visit of the Iranian delegation to the Kurdistan Region, it was agreed in which the President of the Kurdistan Regional Government Nechirvan Barzani, the supply of double-tube of oil and gas to Iran, and now the Kurdistan Region is expected to visit Iranian delegation to the region to sign the agreement." said Mohammed, that "the pipeline supplies of Ckramaan region to Iran, "he said." Ckramaan contain a large proportion of oil and gas. "In the same vein, said Director of Public Relations in the Kurdistan Regional Government with Iran, Abdullah Akrawi, network Roudao media, that" the Iranian side asked that the visit Kurdistan Region, to discuss several economic aspects, including the subject of the supply of oil and gas pipeline to Iran, "adding that" the Iranian side awaiting a response from the Government of the Territory to visit. "
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okay that's it for the morning. Come back later to see if there are more.
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