Thursday, March 28, 2024
Al-Yasiri: The American Administration Is Working Hard To Destroy The Iraqi Economy, 28 MARCH
Al-Yasiri: The American Administration Is Working Hard To Destroy The Iraqi Economy
Information/Baghdad... The political and security analyst, Muhammad Al-Yasiri, today, Thursday, accused the American administration of continuing its hostile policy to destroy the Iraqi economy.
Al-Yasiri told Al-Maalouma, “The US Treasury Department continues to restrict the flow of dollars to the Central Bank of Iraq and reduce cash liquidity.”
He pointed out that "the American administration is working hard to restrict the Iraqi government and discourage it from demanding the removal of its occupying forces from the country."
He continued, "The American restrictions on Iraq regarding the dollar clearly confirm the lie of the so-called friendship of the United States of America with Iraq."
The US Treasury Department recently imposed economic sanctions on eight Iraqi banks, preceded by sanctions on fourteen others, and prevented them from dealing in the dollar currency, as the reasons behind the imposition of such sanctions were not explained. href="https://almaalomah.me/news/60091/economy/%D8%A7%D9%84%D9%8A%D8%A7%D8%B3%D8%B1%D9%8A:-%D8%A7%D9%84%D8%A5%D8%AF%D8%A7%D8%B1%D8%A9-%D8%A7%D9%84%D8%A3%D9%85%D8%B1%D9%8A%D9%83%D9%8A%D8%A9-%D8%AA%D8%B9%D9%85%D9%84-%D8%AC%D8%A7%D9%87%D8%AF%D8%A9-%D8%B9%D9%84%D9%89-%D8%AA%D8%AF%D9%85%D9%8A%D8%B1-%D8%A7%D9%84%D8%A7%D9%82%D8%AA%D8%B5%D8%A7%D8%AF-%D8%A7%D9%84%D8%B9" style="border-bottom-color: rgba(0, 0, 255, 0.3); border-bottom-style: solid; border-bottom-width: 1px; color: blue; overflow-wrap: break-word; padding-bottom: 0.05em; text-decoration: none; transition: border-color 0.15s ease-out, color 0.15s ease-out;">LINK
"RV UPDATE" BY TEXAS SNAKE, 28 MARCH
Wed. 27 March Texas Snake: Since there has been so little actual RV information being released over the past couple of days I thought it might be a relief over this coming Easter celebration to share what my banker has just shared with me.
His text is in all caps. “THE LATEST MESSAGE TO ALL REGIONAL CURRENCY EXCHANGE MANAGERS IS TO ADVISE YOUR SPECIALISTS TO BE AVAILABLE FOR DUTY IN THE WEEK FOLLOWING THE EASTER WEEKEND AS OUR INFORMATION IS ALL REQUIREMENTS HAVE BEEN SATISFIED GLOBALLY AND THE ANNOUNCEMENTS WILL OCCUR IN THE FORTHCOMING WEEK.
WE WILL PROVIDE CONTINOUS INFORMATION AS IT BECOMES AVAILABLE OVER THE WEEKEND. PLEASE RECOGNIZE WE HAVE HAD SUCH NOTIFICATIONS BEFORE SO HOPEFULLY FURTHER DELAYS WILL BE UNDERSTOOD.”
Coffee with MarkZ. 03/28/2024
Fiscal and monetary policies succeed in undermining the parallel dollar, 28 MARCH
Fiscal and monetary policies succeed in undermining the parallel dollar
Economical 03/27/2024 Baghdad: Haider Falih Al-Rubaie
The exchange rates of the dollar in the parallel market witnessed a noticeable decline, reaching yesterday, Monday, around 146 thousand dinars per 100 dollars, a number that specialists believe may decline further in the coming periods as a result of the success of the financial and monetary policies, stressing that the superiority of the official market, represented by the platform for selling the dollar. The Central Bank, in meeting the needs of foreign trade, led to a decline in the effects of the parallel market for the green currency, while specialists attributed the reasons for this decline to the introduction of the customs automation program (ASYCUDA).
According to specialists, this decline constituted a positive factor in controlling the prices of goods and materials in local markets. They expect inflation rates to decline in the coming periods if monetary policy continues to succeed in meeting foreign trade financing.
In an image that confirms the solidarity of the executive and legislative authorities to confront the effects of the parallel market, the Parliamentary Finance Committee hosted earlier the Governor of the Central Bank, Ali Al-Alaq, to discuss a number of important files, most notably the procedures for addressing the large gap in the sale of the dollar between the official price and the parallel market, as well as foreign trade remittances.
Through (the platform).” Al-Alaq indicated during the hosting that there were ongoing meetings with the US Treasury, and it was agreed to reconsider the sanctions imposed on Iraqi banks, and that such decisions should not be issued in the future except after discussing and informing the Central Bank of Iraq, as it concerned with monitoring its activity.
In the midst of this, the financial advisor to the Prime Minister, Dr. Mazhar Muhammad Salih, believes that “economic policy played a major role in imposing a climate of stability in the general level of dollar exchange rates,” indicating that “the state of superiority of the official exchange market in financing Iraq’s foreign trade caused a decline in the effects of the market.” Parallel and receding Its illegal activities.
Saleh pointed out to the Iraqi News Agency, “INA,” that “the decline in parallel market rates in favor of the official exchange rate is a tangible success in the cohesion of the country’s economic policy in its three aspects: financial, monetary, and commercial,”
Pointing out that “work and high coordination of policies led to providing an incubator of stability embodied in Relative price calm and containing seasonal price fluctuations for high-demand items, specifically providing basic goods related to consumption and daily living for citizens,” noting “the importance of using the customs policy, which was represented by (reducing customs tariffs and diversifying imports without quantitative limits for basic and necessary goods) as part of the performance of the financial policy in providing stability.” price and guarantee the supply of food and essential goods and production supplies at the official exchange rate and in accordance with the requirements of the national economy.”
Confirming the views of the government advisor, the economic expert, Manaf Al-Sayegh, pointed out that “the existence of coordination measures between the financial and monetary policies indicates the presence of a sound reading among the pillars of the Iraqi economy, and that the strategy that was developed to enhance the value of the dinar has begun to bear fruit.”
However, Al-Sayegh, during his talk to “Al-Sabah,” urged the necessity of knowing the real measures that led to the decline in the parallel exchange rate to ensure its sustainability during the coming periods, with the aim of absolutely controlling the green currency and preventing its rise again, stressing that this decline in the exchange rate could achieve a number of economic gains, The most prominent of which is controlling the prices of goods and materials in local markets, and reducing the rise in inflation rates during the coming periods, and therefore this is in the interest of Supporting individual economics.
Al-Sayegh pointed out that the past few days witnessed a clear decline in the demand for the dollar in the parallel market, which led to a decline in its exchange rate, indicating that the decline in demand resulted from meeting the needs of financing foreign trade by the Central Bank, and therefore the dinar can gain a lot during the coming periods if it is filled. Most of the external financing needs of the private sector.
In turn, the specialist in economic affairs, Dr. Ali Daadoush, attributed controlling the exchange rate and reducing it in the parallel market, to the recent measures represented by the introduction of the Customs Data Automation Program (ASYCUDA) system, stressing that this important government measure is an essential part of reducing the rise in the price of the dollar in Parallel market.
Dadoush also believes during his talk to “Al-Sabah” that “this decline will positively affect the level of per capita income, and will also push people who hoard the dollar to give it up and sell it, which could contribute to the continued decline in the exchange rate, indicating at the same time that this decline in the currency Green prices will ultimately lead to a positive effect of controlling the prices of some goods necessary for the individual, while the rest of the goods, especially luxury goods, will remain high as a result of their connection to global prices, which are high mainly as a result of global inflation. LINK
"RV UPDATE" BY FRANK26, 28 MARCH
Frank26
All the contracts that Al-Sudani signed around the world are now being recalculated and being converted into dinars...That takes guts to do that. Normally a country would simply walk away and say forget you, up yours. But right now Sudani has so much power, he is in so much control that the world will bow to any of his demands concerning the economic reform of Iraq all because the monetary reform was successful and proven to them. They all want a piece of Iraq, at whatever cost.
No bank is going to exchange your Iraqi dinars. It is the wealth management departments. For example the one that we're using Chase is using JP Morgan. Chase is not going to exchange your dinar. JP Morgan is...
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Frank26 [Bank story] This time we didn't go down, we just called [the bank]... We said we want to see if we can exchange some cu...
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Bank appointment for Currency EXCHANGE Instructions/Checklist Bank Name_________________________________________ Bank 800#____________...
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Walkingstick All these meetings that the CBI had with all these agencies that were helping them with their monetary reform are done. Al...