If you remember earlier this year, we talked about the WTO stating that they would be working on exchange rates the second half of this year.
Once Iraq is reinstated into the Global Economy and joins the WTO, this will be a part of the process of developing International exchange rate values to level the playing field between countries.
Now, it makes sense to me why our CBI Banker contact that Dee and I speak to stated that Iraqi Dinar will not float.
It will be a revalued rate.
Iraq's "system paper" or "regulation paper" should go a long way in formulating a price for the WTO to evaluate.
Parliamentary Finance clarifies.. Will selling dollars at the airport limit its smuggling?
The Parliamentary Finance Committee stated that the Central Bank’s decision to restrict the sale of dollars to citizens at the airport aims to combat currency smuggling and reduce corruption, while it indicated that the increase in its prices in local markets is due to smuggling operations to neighboring countries.
Committee member Jamal Koujar said that the decision will prevent corrupt people from exploiting other sales outlets to smuggle currency, stressing that limiting sales to the airport will ensure that the money reaches the actual travelers.
He pointed out that this decision will not negatively affect citizens, but will besiege smugglers and corrupt people, noting that we discovered that millions of dollars are being stolen due to corruption, and the new decision will create a crisis for thieves and corrupt people who were exploiting the currencies that were supposed to go to travelers.
Koger stressed that the stability of the dollar price in the markets requires strong security action on the borders to pursue smugglers, in addition to facilitating the operations of the Central Bank in disbursing it and increasing the quantities available in the currency auction to meet the needs of the market. link
For the first time, Google and Facebook pass their bandwidth through Iraq
The Ministry of Communications revealed, on Monday, that Google and Facebook are passing their capacities through Iraqi territory, confirming that this is happening for the first time, while indicating that the transit projects will provide financial returns to the country.
The ministry's spokesman, Omar Al-Amiri, told the Iraqi News Agency (INA): "The ministry has made great strides in strengthening Iraq's geographical position in the matter of transit and passing communications traffic and Internet capacities across Iraqi territory."
Al-Amiri explained that “the Ministry of Communications signed a new contract a few months ago on the transit level, not by sea but by land,” indicating that “this line passes through the south, then the center, reaching the Kurdistan region, and exits to Turkey and connects Asia to Europe via Iraq.”
He added that "the Ministry of Communications fulfilled its promises regarding transit and exploiting Iraq's location after it was disabled in previous sessions," noting that "Iraq's geographical location and its exploitation in international communications traffic and its return to the International Telecommunication Union in a prestigious manner will provide financial returns, in addition to the fact that many international companies will pass their capacities through Iraqi territory."
He referred to the "Road of Civilizations Transit Contract that was signed months ago," noting that "Google and Facebook passed their capacities through Iraqi territory, for the first time in Iraq."
It is worth noting that the Minister of Communications, Hiyam Al-Yasiri, announced on Friday that the threshold of “one tera” had been exceeded in passing international communications through Iraq, confirming that Iraq possesses a safe, attractive and reliable path for transit communications. link
