What is the difference between a mixed economy and a market economy?
In a mixed economy the government plays a more active role in regulating and controlling certain aspects of the economy while in a market economy, the government's role is limited to maintaining a level playing field and protecting property rights...We know right now Iraq has a mixed economy...[with] a lot of state ran businesses...
If we went from where it is now at .00077 all the way up to $3.22, you're looking at a 4,180% increase in value. The largest amount a currency ever revalued occurred January 1, 1948 when the Chinese government decided to revalue its currency the yuan as part of the efforts to stabilize the economy and recover from the devastation of World War II...
The government set the new exchange rate at $1 US for every 1.4 yuan which was a 46.9% appreciation - The largest increase in value we have ever seen in the world is 46.9% in value...So Iraq is going to smash the old record of 46.9% increase in value by 4133%? Not going to happen.
Earth News / Prime Minister Mohammed Shia’ Al-Sudani is preparing to conduct an important visit to the United States of America to meet a large number of officials there, led by Joe Biden, to discuss many important issues, especially in light of the development of the aggression on some areas of the Middle East, in addition to the aggression against the Iraqi security forces by the US aircraft.
This visit comes in light of the dangerous escalation in the world and warnings of the expansion of the circle of fighting, while the Sudani will carry many other sensitive files, most notably the foreign presence in Iraq, in addition to the continuation of strikes between the Iraqi resistance factions and the American forces.
In September last year, the Sudani participated in the meetings of the United Nations General Assembly in New York, during which he met with the US Secretary of State, Anthony Blinken, but did not meet with President Joe Biden, at which time the US minister invited the Iraqi Prime Minister to visit Washington and meet with Biden, to discuss bilateral relations. On this visit, political analyst Ghalib Al-Dami said in an interview with Earth News, that “the talk about the visit took place a year ago when the government was formed and its date was not set and US Secretary of State Blinken had previously invited the Sudanese to visit the United States, but without specifying the appropriate date, which caused its postponement.” He added that “the Sudanese visit and his meeting with US President Biden, who says about the media that he is lack of memory, will not have a significant impact on the consideration that the current President Biden will leave his position after about 8 months,” noting that “the visit will be very useful if it includes other US departments such as the parliament, the Ministry of Defense, the Ministry of State and the decision-making departments in Washington.” Al-Da’ami pointed out that “the Sudanese Prime Minister will carry with him all files related to the Iraqi economy, Iraqi security, the American presence, the stability of the country and everything related to it.” For his part, the government spokesman, on behalf of Al-Awadi, revealed in a statement followed by Earth News, that “the date of the Prime Minister’s visit will be during the spring, explaining that its goal is to arrange bilateral economic, political, cultural and security relations, end the mission of the international alliance and move to a bilateral relationship only.”
With regard to the calm between the United States and the Iraqi factions, Al-Awadi stressed that “stability in Iraq and the cessation of strikes directly contributed to the completion of dialogue and the timetable for the end of the mission of the international coalition and the withdrawal of foreign forces,” but said that “the targeting of Iraqi bases in which international advisers are present, is reflected negatively on the speed of completion of the mission of the Supreme Military Committee and the completion of the task of ending the international coalition.”
The Sudanese’s visit, which is expected during the next two months, which was postponed more than once, due to the tense regional conditions, most notably the Israeli war on the Gaza Strip, is important in the eyes of the observer circles, as it is his first official visit since he took office in October 2022, and it will be on its agenda to discuss security unrest, including the escalation of mutual attacks between the United States and Islamic resistance factions since the beginning of the events in Gaza.
FRANK26: "GOLD WILL BACK THE RI!!!".............F26
Advisor to the Prime Minister: The stability of the exchange rate gives relative stability to gold prices
3/11/2024
The economic advisor to the Prime Minister, Mazhar Muhammad Saleh, confirmed the relative stability of gold prices in Iraq due to the value of the dinar.
Saleh told {Al-Furat News} agency,
“What determines gold prices today are the international gold exchanges, noting that the stability of the official Iraqi dinar exchange rate to the dollar gives relative stability to gold prices.” He noted that "the value of gold is exposed to the cycle of global gold assets, which constitutes the basic variable for the price of gold on the global scale, whether rising or falling."
Gold prices took a breather today, Monday, after a series of record highs that came against the backdrop of a slowdown in the labor market in the United States and statements from the US Federal Reserve, while traders awaited the inflation report in the United States in search of new indications of the possible date for reducing interest rates. Gold settled in spot transactions at $2,177.24 per ounce by 06:02 GMT, while US gold futures contracts fell 0.1% to $2,183.90. Gold recorded an unprecedented level of $2,194.99 for the fourth day in a row on Friday, after data showed a slowdown in the labor market in the United States. The selling price of gram in the local markets in Baghdad today, Monday, is 460 thousand dinars.
Mawazine News – Baghdad Prime Minister Mohammed Shia Al-Sudani stressed on Monday that Iraq does not need foreign soldiers from 86 countries under the international coalition, noting that the US withdrawal does not mean the break or the termination of the coordination framework agreement at all. Al-Sudani said in an interview followed by Mawazine News that “the US withdrawal does not mean canceling the strategic framework agreement and then announcing the break.”
He added that “negotiations between America and Iraq are conducted militarily without policy intervention and are professional and depend on three circumstances, including an assessment of the threat of ISIS, operational conditions and an assessment of the capabilities of Iraqi forces in the face of dangers.”
He pointed out that “Iraq will work to schedule the American withdrawal after taking into account all those assessments and then it will work to develop US-Iraqi relations and work in accordance with the Strategic Framework Agreement.”
FRANK26:"THESE ARE THE MECHANISMS TO BRING FORTH THE NEW EXCHANGE RATE".........F26
Preventing the collapse of the currency... praising the government's steps to control the price of the dollar
3/9/2024
Baghdad
Today, Saturday (March 9, 2024), Professor of Economics at Halabja University, Farman Hassan, praised the Iraqi government's steps to control the dollar and prevent speculators.
Hassan said in an interview with "Baghdad Today" that "the government's measures, including the steps of Prime Minister Muhammad Shia al-Sudani and the Central Bank, are good and prevented the collapse of the Iraqi currency," stressing that "if the measures Continue, the price of the dollar will decline gradually.”
Hassan added, “The government controlled speculation and prevented monopoly,” pointing out that “most materials are traded in Iraqi dinars, and thus the local currency has rebounded, and the dollar has not risen to record levels.”
He stated that "the gradual decline will continue because people's demand for the dollar has gradually decreased, after the reassurances sent by the government and the central bank that the dollar will not rise to significant levels, and therefore people no longer have major fears, and Those who buy the dollar are now only those who have an actual need.”
The Parliamentary Finance Committee confirmed on Wednesday (March 6, 2024) that the dollar is controlled by the relevant government agencies, calling for not taking into account the rumors of losing and corrupt parties.
Committee member Moin Al-Kazemi told “Baghdad Today” that “there are some politically losing parties and personalities who have major suspicions of corruption, working to continue spreading rumors that the government is not in control of the dollar market and the Iraqi dinar is declining , for the purpose of political influence as well as influencing the market.”
Al-Kadhimi added, “The government is currently in complete control of the dollar in all its transactions, and there is real and serious work to strengthen the Iraqi dinar,” stressing that “everyone is required not to take into account the rumors of losing and corrupt parties, as they do not want economic stability, to achieve their suspicious agendas.”
(LOL... THE POT CALLING THE KETTLE BLACK... SOMEONE ACCUSING FALSELY INSTEAD OF THEMSELVES -F26)
The expert in economic affairs, Ahmed Al-Tamimi, confirmed earlier today, Wednesday, that the dollar crisis in Iraq is behind corruption mafias, with political protection from some influential people and parties that are trying to obstruct economic reforms.
Al-Tamimi told "Baghdad Today", "The politically protected corruption mafias were the primary beneficiaries of the dollar crisis and they worked to exacerbate this crisis for their own interests and gains. They are also currently working to obstruct any government reforms in the financial and economic sector."
He added, "These mafias have political protection from some influential people and parties, and these parties work politically to create problems so that any government efforts that want reform fail. This is why we see that the dollar crisis is still continuing and ongoing despite all government steps. The parallel market is still witnessing a significant increase." at the official price.
