Archive for February 14, 2014

 

“There are three things that last: faith, hope and love, and the greatest of these is love.”

– Bible, I Corinthians 13:13

 

 

2014/02/12 09: 31 Member of the Economic Committee accuses Central Bank actions intended to hit the local currency

The Central Bank’s decision to compel banks to deposit all their money at the Central Bank as a condition for its entry in the auction Exchange, has led to the rise of the dollar is suspicious ”

Member of parliamentary Committee for economy and investment Deputy Aziz Sharif al-mayahi, said Wednesday the Central Bank actions intended for the demolition of the domestic economy, warning of the East Bowl Mayor Abdel Basset Turki to Parliament if that policy. (more…)

Published on Wednesday, February 12, 2014 15:49

Deputy former central bank governor, on Wednesday, said the central bank intervention in the market to maintain the stability of the Iraqi dinar and maintain purchasing power.

He said the appearance of Mohammed Saleh told the “time”, that “the Iraqi dinar is protected range is strong, and the cover of foreign currency is very high unless they are used for the purposes of reserves dedicated to the support of the Iraqi dinar.” (more…)

MP for the coalition of national white-Kadhim al-Shammari said that “measures the CBI in connection with setting conditions on banks entering the market to buy the currency is correct and will have important consequences for the stability of the currency and the market in the long run.” (more…)

Parliamentary economy: postpone the deletion of zeros from the currency to avoid a scheme to replace counterfeit currency
11/2/2014 2:08 p.m.

{Baghdad: Euphrates News} A member of the Committee on the economy and investment representative, Amer winner, said the project to delete the zeros from the national currency still exists, but it is in order for commercial reasons, in addition to the receipt of intelligence information for the creation of counterfeit currency for the purpose of replacing the new currency.

He said the winner told the News} {Euphrates on Tuesday that “the project is still in place and everything in it that he delayed not only, we want to apply the law in 01/01/2013, but he asked later postponed for economic reasons, as it leads to a disruption in the commercial market and the general situation does not help, he asked to postpone the work in it. “

and “The General Secretariat of the Council of Ministers may linger in the project, in order to the country’s economy internal,” noting that “we have agreed with the central bank in order not to make a fuss in the market through the implementation of the project, and because the old currency will not fall but will continue to work out as well as the new currency for a period of two years, for example, goods are priced in the new currency specified in the old fixed as well, and for a period of two years, the old currency intervention by the Central Bank gradually and will not leave until implemented from the market. ”

said the winner “as he may been wait-implementation of the project, to the receipt of intelligence information indicating that there is a coin forged many abroad in neighboring countries, and even some of them inside Iraq, prepared for the purpose of replacing the new currency, considering that the old currency will damage, so it has to implement in order to develop a mechanism to control this issue, and control at border crossing points. ”

It is noteworthy that the central bank announced earlier that the project to delete the three zeroes from the Iraqi currency will transfer the country from a country trillions to billions.

confirms economists importance of deletion of zeros from the currency current, which applies to reduce inflation and achieve a breakthrough in the economy currency of the country a few new banknotes and coins sober mimic the rest of the world. was the General Secretariat of the Council of Ministers announced in April 2012, for a patient in the application process to delete the zeros from the currency.

http://bit.ly/1b2xG8M

Hamid Rahim al-Rubaie, this is the tool of the important means (that were not the most important) among other tools (the discount rate, the statutory reserve) followed by central banks to control the money supply for the economics of the free. The main open market operations the process of buying and selling government bonds (public debt), ie the State to borrow from banks or public versus specific repayment period and interest rate.

The resort has a central bank if they wanted to make a change in the size of the money supply process shall IPO (bond issue) and it is part of the withdrawal of liquidity if they wanted a reduction in mass and the cash to buy these bonds if they wanted to pump cash into the economy. (more…)

Wednesday February 12, 2014 15:41

The Ministry of Planning and Development Cooperation, Wednesday, for a rise in annual inflation index by 4%, indicating that inflation month of January last also rose by 1.4%. said ministry spokesman Abdul Zahra al-Hindawi said in an interview for “Alsumaria News “,” (more…)