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Parliamentary Finance reveal postpone the deletion of zeros until after parliamentary elections (post for player )

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dezertheat
Shredd
chiara
dealerdean
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dealerdean


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ADMINISTRATOR

Revealed the Finance Committee in the House of Representatives on Thursday to postpone the process of deletion of zeros from the currency until after the next parliamentary elections, while confirming that the government demanding guarantees for currency Replaced not return to markets and forgery.

Committee Chairman Haider al-Abadi said in an interview to (range Press), "The Finance Committee supports the replacement of the currency and delete the zeros because it will initiate the calculation," stressing that "it is possible to delete the zeros from the current currency, but it has been postponed until after the parliamentary elections."

He added Abadi that "the government Committee agrees opinion, but it calls for guarantees of non-forgery or reference currency in the markets," noting that "the large number of zeros generates mistakes, and if what has been deleted Snqll mistakes and deal be easier," stressing at the same time that "what we do is the study of safeguards to reduce fraud or return of the currency markets. "

The CBI said, in (25 April 2013), that there is no intention at this time to restructure the currency and deleting three zeros of them, denying reports that in this regard.

It is noteworthy that the General Secretariat of the Council of Ministers announced in (12 April 2012), the patient in the application process to delete the zeros from the national currency, which had to stop all actions related to the mentioned process until further notice.

It is noteworthy that some economists believe that Iraq is not ready at the present time to delete the zeros from the dinar, pointing out that the deletion needs to stabilize the security and political as well as economic stability. Was the Iraqi Central Bank confirmed, (on July 3, 2013) that Iraq is "in control of the funds and treasury of gold "in international banks, one of the acting out, denying" the existence of frozen funds outside the control of the Iraqi administration, "While revealed that the reserve bank amounted to 76 billion dollars in the month of May last year, counting out of Chapter VII that" will allow Iraq more freedom to act to attract foreign investment. "

The International Monetary Fund, announced in the (March 23, 2013), that the funds preventive in the Development Fund for Iraq rose in 2012 to $ 18 billion, and cash reserves of the Central Bank of hard currency to $ 70 billion, and pointed out that this increase came from "revenue unexpected oil ", called on the Iraqi government to end the control of the state-owned banks on the banking sector, he stressed the need for Iraq to strengthen public financial institutions to ensure efficiency and transparency in the use of oil revenues.

They expected USAID, in (December 3, 2012) that leads the Iraqi economy, Arab countries within five years, stressing that Iraq possessed all the qualifications to be a powerful country economically. Iraq is trying for years to attract foreign capital to develop its economy in the fields of industry especially oil, including housing and oil and gas extraction, for need of funds for infrastructure development and reconstruction, but Mariqben contend that the lack of interest of the state to the private sector and the absence of investment laws which guarantees for investors and the absence of other laws that are still obstacles to the development of the economy in the form required.

Iraq relies which has the fourth largest oil reserves in the world at 95 percent of its annual budget on its oil exports and currently produces about two million and 900 thousand barrels per day, while the issue up to two million and 200 thousand barrels per day.

The UN Security Council voted on Thursday (27 June 2013), unanimously approved the decision to remove Iraq from Chapter VII, after more than two decades of sanctions imposed whereby in the wake of the former regime's invasion of Kuwait on the second of August 1990.
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Last edited by dealerdean on Thu Aug 15, 2013 5:17 pm; edited 1 time in total

chiara


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And so, when are the parliamentary elections...? I guess I missed that one.Question 

Shredd

Shredd
CO-ADMINISTRATOR
CO-ADMINISTRATOR

They are next spring and since we know that the deletion of the zeros cant happen mid year per the cbi, we can hope they will launch the project the first of 2015.


_________________
"Do not wear yourself out to get rich" - Proverbs 23:4

chiara


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MEMBER

But, changing the rate and the deletion of the zeros are two separate processes, correct?

dezertheat

dezertheat
MEMBER
MEMBER

don't believe everything you read,
I think this is just smoke. Cool 
to throw us off the sent of an RV

Shredd

Shredd
CO-ADMINISTRATOR
CO-ADMINISTRATOR

chiara wrote:But, changing the rate and the deletion of the zeros are two separate processes, correct?
Yes, but who cares that they are separate processes? The rate cannot get even close to the dollar without the release of the lower denoms. So could it start rising next year? Sure, but only so far.


_________________
"Do not wear yourself out to get rich" - Proverbs 23:4

Shredd

Shredd
CO-ADMINISTRATOR
CO-ADMINISTRATOR

dezertheat wrote:don't believe everything you read,
I think this is just smoke. Cool 
to throw us off the sent of an RV
lol! lol! lol! lol! you make me laugh dez!!! I do actually find it funny tho that people say articles that aren't fun to read are "smoke"! I mean, do we really believe the cbi is concerned about us speculators? lol! lol! lol! Furthermore, what does the cbi gain in "throwing us off"??? lol! lol! lol! lol! lol! lol! lol! 


_________________
"Do not wear yourself out to get rich" - Proverbs 23:4

chiara


MEMBER
MEMBER

True--it has been said enough times--none of this is about us--perhaps not even an effort to blow smoke...
So, it looks like we probably won't have much in our Christmas stockings??!! Neutral 

dealerdean


ADMINISTRATOR
ADMINISTRATOR

sorry guys, I had no link attached, it is there now for you

Reflection


MEMBER
MEMBER

Told ya so told ya so........ lol!

Carrello


MEMBER
MEMBER

The Kurds are pushing for the currency reform, and that's the horse I'm riding.

vaquero


MEMBER
MEMBER

Shredd wrote:
chiara wrote:But, changing the rate and the deletion of the zeros are two separate processes, correct?
Yes, but who cares that they are separate processes? The rate cannot get even close to the dollar without the release of the lower denoms. So could it start rising next year? Sure, but only so far.
Sure ,but only so far????? well this is what we can do say u paid 1000 for a million dinar if it comes out to 10 cents exchange the million dinar get 100,000. pay tax invest the rest in ISX, warka or straight out buy more dinar. Say after tax we can invest $50,000 buy a million at $854 that another 58million dinar wait until it is 3 bucks that will be over 150million bucks and really one started with an investment of a $1000 dollars. Will be a blessing for us. Very Happy Very Happy that's not counting the interest while we wait for the deleting the zero.

Carrello


MEMBER
MEMBER

dezertheat wrote:don't believe everything you read,
I think this is just smoke. Cool 
to throw us off the sent of an RV
I agree. This guy, Haider al-Abadi, is not on the Finance Committee, and he is a Maliki minion. Plus the Finance Committee does has not authority over the CBI.

Shredd

Shredd
CO-ADMINISTRATOR
CO-ADMINISTRATOR

Carrello wrote:
dezertheat wrote:don't believe everything you read,
I think this is just smoke. Cool 
to throw us off the sent of an RV
I agree.  This guy, Haider al-Abadi, is not on the Finance Committee, and he is a Maliki minion.  Plus the Finance Committee does has not authority over the CBI.
Wrong. He has been the chairman of the Finance Parliamentary Committee since 2011. Even the big banking and finance conference of last year recognized him under this title: [You must be registered and logged in to see this link.]

There are numerous articles that refer to him in this position....heck, even facebook and twitter pages do!


_________________
"Do not wear yourself out to get rich" - Proverbs 23:4

dezertheat

dezertheat
MEMBER
MEMBER

Carrello wrote:
dezertheat wrote:don't believe everything you read,
I think this is just smoke. Cool 
to throw us off the sent of an RV
I agree.  This guy, Haider al-Abadi, is not on the Finance Committee, and he is a Maliki minion.  Plus the Finance Committee does has not authority over the CBI.
Im with you Carrello,
until I hear / see it directly from CBI or turki,

I just take this as an another opinion  from one of the many many politicians who are spouting out whatever they want.
If this comes from the CBI direct , then that's another story and I will put my dinar back into the shoebox. and check back in a few years... Rolling Eyes



and now we have this piece to add

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if you don't want to translate it , it reads

Parliament: the national economy will grow in the coming period and the security situation doesn't affect the work of companies in the country -

Baghdad (newsletter). Member of the Finance Committee ruled out MP//Secretary Hadi, the security situation on the work of foreign companies operating in Iraq, likely improved national economy and increase its growth in the coming period.

He said Hadi (News Agency): despite the security breaches that occur now and then in the country, it did not affect the work of foreign companies, there are a lot of companies work and conclude contracts with ministries and governorates, stressing that the situation in Iraq is not new to the world but there are States worse security situation of Iraq.

He added: that Iraq possesses substantial economic resources including oil, so there are no worries about a possible economic downturn in the country, but the Iraqi economy will probably substantial growth during the coming period, especially after the improved value of the Iraqi dinar against the dollar, this gives a clear indication of the strength of the economy.

Iraq suffers from deteriorating security represented by continuous bombings occurred in the capital and some provinces, some economists fear the security situation impacted on the growth of the economy and the advent of global companies./finished/8. b. m/ -
bounce bounce bounce bounce 

lightingcslt

lightingcslt
MEMBER
MEMBER

Shredd wrote:They are next spring and since we know that the deletion of the zeros cant happen mid year per the cbi, we can hope they will launch the project the first of 2015.
theres no way in hell they can postpone this until 2015. the world bank imf and all those companies who are planning to invest in iraq wont with a country that doesnt have an international tradable currency period. actually
i like this article because imo thats telling us
that this is about to go down

chiara


MEMBER
MEMBER

I like the way you think, Lighters.
All these years, this is what we have been learning, studying, and being taught...Unfortunately, I have difficulty finding balance between facts that we hope will hold up and my ever-growing wishful thinking...

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