ECONOMIST'S BOLD PLAN TO FIX IRAQ'S DOLLAR EXCHANGE RATE

Iraqi Central Bank: The low price of oil has nothing to do with the high dollar exchange rates, 19 SEPT

 Mawazine News – Economy

The Governor of the Central Bank of Iraq, Ali Al-Alak, announced on Wednesday that all remittances would be subject to audits, while pointing out that the decline in oil prices has nothing to do with the rise in exchange.
According to the official agency, Al-Alak said that “the Central Bank provides the dollar at the official price for all commercial and personal channels, travelers and for all types of operations that represent legitimate activities, operations and requests.”

He pointed out that “any price outside the country is a price that is only indicated for the existence of abnormal operations that try to get out of the official and legal system and the correct fundamentalist channels,” stressing the need to “focus on the amount of sale made by the central bank at the official price and the demanders of the dollar, whether they are traders, importers, individuals or travelers.”

He pointed out that “ways have been put in place for each channel that ensures the provision of dollar on the one hand and a very large amount of control to verify the integrity of previous operations before their implementation,” pointing out that “this is a major shift in external transfers, as they were previously being scrutinized at a later stage, and today all transfers are not carried out and are not carried out until after they undergo the audit process.”
He pointed out that “the decline in the price of oil has nothing to do with the rise in the exchange rate because Iraq has reserves for foreign currencies, which enables it to defend the exchange rate.”

https://www.mawazin.net/Details.aspx?jimare=255061

LATEST FROM FNU LNU, 19 SEPT

 Fnu Lnu 

 I do not buy this "Education Program" nor do I buy the "Adjusting of the Parallel Market". The education is taking too long to be effective and it isn't government's job to adjust black markets. These are stall tactics while they placate the masses.  But why?...

  When you drag out the "Education" as long as the GOI and CBI has been doing, nothing sticks. If it is not in practice, then it is just words from the mouths of bureaucrats. Iraq has had more than enough of that and they do not pay attention.

 They will become educated when it means something to them, like the cost of goods and services, and buying power, and velocity of money. This is all obfuscation and I don't believe a word of it. Logic tells me they are stalling the people.

The $64,000.00 dollar question is why? What's the real plan?

US Treasury Applauds Iraq's Banking Reforms! #iraqidinar

US Ambassador: Iraq is capable of creating an economic model to follow, 19 SEPT

 Mawazine News – Baghdad

US Ambassador Alina Romanski confirmed on Wednesday that Iraq is capable of creating an economic model to follow, while pointing to cooperation with Iraqi organizations to improve water access for more than 100,000 people.

Romansky said, according to the official agency, at the conference on the launch of the National Strategy for the Protection and Improvement of the Environment in Iraq: “This is a pivotal and important stage that will support Iraq’s efforts in building the country and the changes that are happening today and future Iraqi generations,” pointing out that “this will be a vision of Iraq’s requirements and facing the environmental challenges faced by Iraq from population growth and natural resources that restricted development in Iraq.”

She added that “the drought continues to harm the agricultural sector and affect the security and safety of the country, and that this strategy is an opportunity to work together and unite to take action,” noting that “in the past two decades, the United States has done its work to support Iraq, strengthen security and safety and promote prosperity for all Iraqis.”

She pointed out that “this year, the United States and its agents have invested more than $2,000,000 to support fragile communities in Iraq facing climate change challenges in partnership with the World Food Program and UNICEF,” noting that “through these initiatives we are trying to improve access to clean water, protect farmers’ lives and build communities that are more resilient to climate change.”

“Our programs and companies produce positive outputs, and cooperation with local Iraqi organizations and multi-party organizations improves access to water for more than 100,000 people by investing more than 1,000,000 cubic meters of water, and also another initiative that helped more than 200,000 farmers produce thousands of tons of food and food by using less electricity and rationalizing more water,” she explained, noting that “we will continue to support the development of Iraq and Iraq’s sustainable goals to adapt to climate change.”

“In cooperation with Iraqi ministries, we participated with the undp, and we worked together with the Iraqi government on this strategy to improve environmental protection. This includes coordination with various government entities to develop Iraq’s sustainable goals effectively, and includes launching a strategy to help Iraq improve balance and environmental protection, as well as an environmental protection strategy and climate investment.”

She pointed out that “one of our goals is to have a roadmap for a green economy that ensures adequate access for women, youth and fragile communities facing challenges and climate change. The national strategy for protecting and improving the environment will become a directive to the United States and other donors to support the Iraqi government, and will promote a response and solutions to be effective, including investing in the green economy and supporting modern methods of agriculture, and contributing to having a more diversified economy by supporting this strategy.”

She expressed her thanks to the Ministry of Environment, the Department of Environment team, the US Agency and the United Security Development Team for their assistance in launching and activating this strategy, stressing that “the role played by international supporters from donors and local experts in including this strategy with effective participation will become Iraq able to create a better economy and will be a role model.”

She pointed out that “the United States continues to strengthen bilateral relations and we will continue to support Iraq as we work together to enhance Iraq’s sovereignty, security, safety and economic opportunities for all, and that this strategy will allow us to work together,” she praised “work and on this strategy, and now the real work has begun and we are implementing this plan to have a positive impact on the entire country.”

https://www.mawazin.net/Details.aspx?jimare=255075

MNT GOAT: "WE HAVE THE CAPABILITIES TO CONFRONT THE PROBLEMS OF THE GLOBAL ECONOMY" , 19 SEPT

 Mnt Goat 

 Is the electronic payment necessary in Iraq for the RV?  NO, it is not but it will help to prevent the money laundering...  

Article:  "AFTER THE DECLINE IN OIL, A GOVERNMENT ADVISOR: WE HAVE THE CAPABILITIES TO CONFRONT THE PROBLEMS OF THE GLOBAL ECONOMY" 

 I consider this one of those WOW! articles.  Quote: “the highest reserves in the country’s monetary and financial history” also  “the growth indicators in the non-oil GDP have touched 6%”  WOW!

“ECONOMIC RENAISSANCE AND UNPRECEDENTED PROGRESS.. IRAQ MAXIMIZES ITS NON-OIL REVENUES AND REDUCES ITS DEBTS”.

 They are telling us the national debt is only 9% of their reserves now at $108 billion and GDP growth is very good... words like “unprecedented” and “maximizes”...tells me our choo choo train is moving down the tracks at an accelerated pace now. 

Turkey & Iraq Unite: New Security Deal Explained!