Central Bank denying change in exchange rate W/Millionday's comments below

Posted Yesterday, 05:00 PM

Hope Millionday or someone can explain this... it sounds like either a smokescreen, or we are in for a disappointment...Help please??????????

Date: Mon 06/27/2011 4:43

A Deputy Governor of Central Bank of Iraq, Ahmed Ibrihi that "the deletion of zeros from the Iraqi currency has nothing to do at the exchange rate and prices." Ibrihi said in a statement to the Agency all of Iraq on Sunday, said: "Some people imagine that the state wants to influence prices


Or exchange rate (a reduction or waiver) by the deletion of zeros and this is not true. "He added that" the deletion of zeros nothing to do with price and exchange rate and that the addition of larger groups of the currency does not require the deletion of zeros. "
He continued that "it is not expected to convene Officer in the state to promote a false consciousness about economic life and promote the illusions of the common disorder. "
It should be noted that the "plan of deleting three zeros from the Iraqi currency is one of the proposed projects. And confirms the economists that this project will facilitate cash transactions; because the handling of cash in Iraq is complex; due to the variation in currency exchange between the Iraqi dinar and the U.S. dollar, which could reach the cash transactions to the trillions it requires complex calculations to see the results of those transactions in the profit and loss, and others. "
The central bank Iraq has decided to restructure the local currency in order to develop the payment system in the country, and start execution of the strategic long-term, specialized to the restructuring of the local currency for the development of the payments system in Iraq.
The "International Monetary Fund calls Iraq a number of economic measures including the privatization of banks and raise the zeros three of the local currency and to meet debt and compensation is the responsibility of Iraq, if Iraq's desire to receive support the International Fund.
In the meantime, he saw an expert industrial Abdul Hassan Shammari that the deletion of zeros from the Iraqi currency is an achievement will go down to the Central Bank in the event was implemented, as announced Bank is ready to delete the zeros from the currency, and added that the step is one of the functions of strategic him.
Al-Shammari said the Agency news on Sunday: the restructuring of the currency will not affect the Industry and Trade of Iraq, but it is a good step from the central bank, which will add an achievement should the state have been implemented because they will ease a lot of effort to balance and commercial stores.
He Shammari: This topic is very important and was supposed to be implemented some time ago, indicating that we are not the only country that has raised the zeros, Turkey deleted six zeroes from the currency and has become a LL one.
The central bank announced in Earlier, his willingness to delete the zeros of the Iraqi currency, as he emphasized that this step is one of the jobs strategy of the bank, and pointed out that the new currency will contain the Kurdish language in addition to Arabic.
The adviser said the Iraqi Central Bank Governor appearance of Mohammed Saleh told Alsumaria News The "zeros that Added to the Iraqi currency during the last period, formed a cluster of large cash $ 28 trillion and 500 billion Iraqi dinars nearly five trillion paper money, "noting that" the Bank prepared the supplies all of the deletion of zeros from the currency. "
Saleh added that "the process is one of the jobs strategy of the Bank Central Iraq, "noting that" the Bank's monetary policy is based on the structure and reduce the volume of currency in a country moving to the stage of the economy. "
Salih stressed that "the project to delete the zeros have been completed and will be presented to the management of the Central Bank of Iraq during its next meeting, and then raise before the Council of Ministers to be presented to the House of Representatives for a vote, "pointing out that" the mechanisms of switching and changing the currency would be gradual preceded by campaigns to educate the citizens. "
Saleh continued that "the new currency that will be printed after the deletion of zeros will contain the Kurdish language in addition to Arabic, as well as for some pictures that refer to the heritage and cultures of Iraq and symbols of scientists and thinkers the Iraqis. "
The Iraqi Central Bank Governor Sinan Shabibi said at a meeting of independent bodies with Prime Minister Nuri al-Maliki, who held on 19 June current, ready to create all the supplies to replace the Iraqi currency.
in turn, said member the Finance Committee in the House of Representatives of Iraq, that the committee did not address so far to the question of changing the Iraqi currency.
and said Najiba Najib told the Kurdish news agency that he "had not been talking so far in the Finance Committee representative on the issue of changing the Iraqi currency, having met some time ago the Governor of Central Bank of Iraq and Minister of Finance, has not had discussions in this regard so far. "
She Najiba "The Iraqi dinar exchange rate compared with the U.S. dollar is stable at the present time, the central bank could maintain the stability of the Iraqi dinar exchange rate against the dollar."
"The change currency will not cause a rise in the value Aldenarabraghi, and there are a number of accounting measures should be taken by the central bank, in order to stabilize the dinar exchange rate, including the buying and selling bonds, and dealing with international banks in various countries. "
http://almadapaper.n...n=view&id=43137 

Millionday's comments on this article:

Posted Today, 01:15 AM

THIS IS A GREAT ARTICLE HUN -- WHAT IT IS SAYING IS THAT ONE OF THE PROCESSES TO APPLY THE MONETARY REFORM TO IRAQ IS THE EXCHANGE OF THE CURRENCY IN THE COUNTRY. THE MOST EXCITING THING THAT IT SAYS IS THE CURRENCY THAT IS OUTSIDE OF THE COUNTRY IS GOING TO BE TREATED AS DEBT AND THAT IF THEY NEED HELP ==THE IMF WILL HELP RETRIEVING IT FROM THE BANKS OF THE WORLD . YOU SEE THE IRAQ GOVERNMENT HAS I THINK 6 MONTHS TO GET THE MONEY BACK FROM THE VARIOUS COUNTRIES THAT WILL BE HOLDING THE IRAQI DINAR -- THIS IS GOING TO BE SOMETHING THEY OWE. THE RATE WILL CHANGE WHEN THEY START THE PROCESS AND IT WILL BE A SUCCESS. THE ONES HELD IN US WILL BE A DEBT THAT IRAQ WILL OWE. THEY ARE ALSO REASSURING THE IRAQI CITIZENS THAT THIS IS NOT A GOVERNMENT TACTIC TO EFFECT PRICES TO GET THEIR MONEY AND EFFECT THE ECONOMY. THEY ARE SAYING THAT IT WILL BE OK AND THAT IT HAS BEEN DONE IN OTHER COUNTRIES AND HAS BEEN DONE CORRECTLY --DONT WORRY 

Source: Maliki calls on Fayad as Minister of National Security

BAGHDAD (Iba) .. Detect a source familiar with the appointment of leadership in the reform movement, Faleh Al-Fayad, Minister of National Security Agency.


The source, who asked not to be named in connection with the independent press (Iba) that Prime Minister Nuri al-Maliki ordered the appointment of Fayad, Minister of National Security Agency said more than Lyndon Altvasilz

The three security ministries, Defense and Interior and National Security, is currently run by al-Maliki and the agency for lack of consensus on the names of candidates to fill the ministerial posts so far.
Fayad, and is the second leading figure in the National Reform Movement, led by the President of the National Alliance Ibrahim al-Jaafari.


http://wp.me/pZC7o-8vo

Fayad: Maliki is determined to resolve the security ministries during the next legislative term

07-06-2011 | (Voice of Iraq) - The MP said the coalition of state law Ali Fayad, "Prime Minister Nuri Kamal al-Maliki is determined to resolve the security ministries during the next legislative term by asking the candidates to the parliament," he said, adding that he and the candidate obtaining a majority of the the vote would get the job.
The hospitality in a statement PUKmedia Tuesday, the issue of the Minister of Defense resolved by the Prime Minister and settled on candidates Saadoun al-Dulaimi, the Iraqi and Khalid al-Obeidi, and the House of Representatives choose one of them.
And announced that the Iraqi List led by Iyad Allawi, Maliki rejected candidate Saadoun al-Dulaimi, the Ministry of Defence, Minister of Culture for being present belongs to the center coalition.


LINK

GOI Spokesman: We will not extend 100 days but will evaluate performance

Iraqi Government: We will not extend the deadline cent on the political blocs and is concerned with the evaluation of Ministers

The Iraqi government confirmed on Monday that it will not extend the time limit set by the Hundred Days to improve services, pointing out that the evaluation of ministers and directors-general of the jurisdiction of the Council of Ministers and not the political blocs to which they belong, as indicated to the desire of Prime Minister Petrciq government.

The Minister of State, the government spokesman Ali al-Dabbagh told a press conference jointly held with the Secretary-General of the Council of Ministers on the Keywords in the building of the Council of Ministers and attended “Alsumaria News”, “Timeout cent (Time spent) set by Prime Minister Nuri al-Maliki for the ministers and governors to improve the services would not be extended” .


Dabbagh said that “the government will deal with the coming days as the deadline cent on the same pace of work,” noting that “assessment of ministers and directors-general after the Hundred Days by the political blocs to which they belong will not be taken into account, but will evaluate their work within the Secretariat of the Council of Minister “.


For his part, Secretary General of the Council of Ministers on the Keywords that “what comes out of decisions regarding the dismissal of ministers or general managers or officials depends on the type of assessments and indicators which will be reflected through to inform the Prime Minister, and will form the basis for taking appropriate decisions,” pointing out that the “time-out per cent on was to determine the nature of the situation and to map and future plans. “

Keywords and explained that “the ministries are feminine desire of Prime Minister Nuri al-Maliki since the beginning of the formation of the government,” stressing that “if there is political opportunity for the topic will be the implementation of Limbering.”

Prime Minister Nuri al-Maliki set on 27 February, one hundred days of the ministries and governmental institutions to improve their performance and development services in the country following the demonstrations that swept Iraq’s cities is required to provide services and the fight against corruption and the elimination of unemployment.

Iraq has been since 25 February, demonstrations traveled around the country calling for reform and change and the eradication of rampant corruption in the joints of the State, organized by the youth of university students and intellectuals are independent across social networking sites on the Internet, at the time still calls escalate for the demonstrations in all provinces until the achievement of service profile .
Maliki has vowed in a statement after the 25 events of last February, the implementation of all the demands of the demonstrations and gave the ministries and provincial councils, one hundred days to improve services, as confirmed to the Parliamentary Services Commission that Maliki can not find radical solutions to the demands of the demonstrators.

The President of the Iraqi Council of Representatives Osama Nujaifi threatened, last March, the withdrawal of confidence from the current government and drop what does not meet the demands of citizens, as well as the confidence of every minister could not carry a rate of 75% of programs designed for the ministry, which promise a coalition of state law is an attempt Nujaifi to draw from his role greater than its real role.

http://wp.me/pZC7o-8sY

Iraq, World Food Program will work together to provide 7 million ration cards

Iraq is about the agreement with the World Food Programme to provide a ration card items


Confirmed by the Secretariat of the Council of Ministers, on Monday, that it was agreed with the World Food Programme to provide a ration card items for seven million Iraqis, and as pointed out that there was a marked decline in the abuse of bribery, announced the new structures of the ministries dealing with citizens.
Secretary-General of the Council of Ministers on the Keywords during a press conference held today, the Council of Ministers and attended “Alsumaria News”, “The Coordinating Committee set up by Prime Minister Nuri al-Maliki in March, to follow up the total effort of State, under our chairmanship and membership of the Director of the Office of the al-Maliki and President of the board of advisers and managers Offices of the Deputy Prime Minister, the ministries f follow-up plans for a hundred days and the remaining period of government. “

The Keywords that “the General Secretariat of the Council of Ministers in connection with the agreement with the World Food Programme to provide a ration card items to seven million citizens,” adding that “This agreement will be the areas most affected and there will be a special system to provide the vocabulary and in the Organization ensure delivery of a basket and one-time uniform.”


Keywords and continued that “the Secretariat was held on Sunday, a meeting with the representative of FAO in this area, and a meeting will be held tomorrow in this regard.”

The Keywords that “the Coordinating Committee set up by the Prime Minister, has prepared a special form for the calendar activities of ministries and departments not associated with the Ministry, were distributed between the ministries a few days ago,” noting that “such forms received by the Secretariat today and will receive tomorrow other forms.”

The Keywords that “there are mechanisms have been developed to implement the strategy to combat corruption and there is support from the United Nations, which expressed as one of the best strategies in the world, and has shown willingness to big for their support,” noting that “there is a marked decline in the use of bribery as Ocherth body integrity.”

The Secretary-General of the Council of Ministers for a “new structures to deal with citizens has been coordinated with the ministries, the establishment of departments for citizens linked to the ministers,” asserting that “the General Secretariat of the Council of Ministers has developed a program for the activation of these structures and launched a hot line number 160 in this area.”

Iraq has been since 25 February, demonstrations traveled around the country calling for reform and change and the eradication of rampant corruption in the joints of the State, organized by the youth of university students and intellectuals are independent across social networking sites on the Internet, at the time still calls escalate for the demonstrations in all provinces until the achievement of service profile .

And Prime Minister Nuri al-Maliki said in a statement, following the events of 25 February last, the implementation of all the demands of the demonstrations and gave the ministries and councils, provincial hundred days to improve services, as confirmed to the Commission on Parliamentary services that Maliki can not find radical solutions to the demands of the demonstrators.

The President of the Iraqi Council of Representatives Osama Nujaifi threatened, last March, the withdrawal of confidence from the current government and drop what does not meet the demands of citizens, as well as the confidence of every minister could not carry a rate of 75% of programs designed for the ministry, which promise a coalition of state law is an attempt Nujaifi to draw from his role greater than its real role.

http://wp.me/pZC7o-8t1

Hillary Clinton: The time is right for America to deal with Iraq, Encourage US investors

America encourages its enterprises to increase investments in Iraq

Arbil, June 6 (Rn) – The U.S. Secretary of State Hillary Clinton, said on Monday that the time is right for America to deal with Iraq, a business opportunity, and encouraged U.S. investors to expand their investments in Iraq, according to the network (RTT news) international economic environment.

Clinton said, in a speech at an economic forum attended by directors of major American companies to look for investment opportunities in Iraq, the U.S. government will provide all forms of support to the corporate sector to invest in Iraq. “

It added that “the U.S. Embassy and consulates in Iraq encourages the commercial activities in all parts of Iraq, as do the Foreign Ministry’s attempts to project the success of American companies,” according to the same source.Clinton repeated the commitment of the administration of President Barack Obama, turning Iraq into a strong, democratic and Dhi developed economy, so as to provide for the people of Iraq, stability and prosperity, at the time of the intervention of U.S. relations with Iraq, a new phase, as the U.S. ambassador in Iraq, James Jeffrey stepped up its efforts to open the U.S. Chamber of Commerce in Iraq.

She explained U.S. Secretary of State that he “will be opening the U.S. consulate in Erbil and Basra, which will facilitate the work of American civilian experts with their Iraqi counterparts and supports the work of American businessmen in Iraq over the coming years.”

According to the International Monetary Fund, even though Iraq has a plan to overtake China in growth over the next two years.

She pointed out that “while preoccupied with the Turkish companies, Chinese, French, Jordanian, Iranian, the development of projects in Iraq, we see a small number of U.S. companies in Iraq by the military and diplomats.”

She said, “Iraq seeks to rebuild all aspects of the country’s economic, not only the oil sector, but agriculture, transport, housing and the banks.”

It noted that “the Iraqis are doing everything they can from it in order to provide jobs and investment to local and foreign investors.”

http://wp.me/pZC7o-8t6

Best Western signs deal for first Hotel in Iraq

Best Western International has signed a deal for its first hotel in Iraq, the Best Western Premier Erbil.

The property is owned by Golden Mountains Company and construction of the 160-room hotel is scheduled to begin in September this year.

Best Western is the latest in a series of international hotel operators to announce plans for expansion in Iraq.

Millennium & Copthorne have seven hotels planned in the country, Shaza Hotels will run a hotel in Karbala being developed by Range Hospitality and Rotana already operates a five-star property in Erbil.

Best Western International’s vice president international operations – Asia & the Middle East, Glenn de Souza, said there were several reasons why the company was keen to have a flag in Iraq.

“There are many positive points which have triggered the interest of Best Western in Iraq for its next step of brand expansion. Compared to other countries in the region, Iraq holds good promise when considering the economy, the people, the salaries and financial resources,” said De Souza.

“It is a promising destination that holds vast potential as both a major business centre and a fascinating tourism spot. With Best Western Premier Erbil Hotel, the destination will benefit from the global sales and marketing reach, revenue generation and promotional power enjoyed by Best Western” he added.

The hotel’s facilities will include a restaurant, lobby lounge, spa, meeting and conference facilities and a casino.

Best Western Premier Erbil, located to the recently built international airport, is due to open in the second quarter of 2014.

http://www.hotelierm...-in-erbil-iraq/