Deletion of zeros!

0 تعليقات Anees Dayoub Monday, October 27, 2014

Iraq is the latest Arab and foreign countries decide to delete the zeros from its currency because of the decline in the purchasing value of the Iraqi dinar and because of the significant rise in inflation levels.

A few days ago announced a committee of economy and investment in the Iraqi parliament, that the deletion of zeros from the Iraqi currency will be working by next year (2015).

It is noteworthy that the subject of the deletion of zeros from the Iraqi currency is not new, it was the Iraqi government project about deleting three zeros from the Iraqi dinar, to reduce inflation suffered by the Iraqi currency, but it has been postponed. He was scheduled to testify in 2011 to delete the three zeros from denominations of Iraqi currency, so that it becomes the new dinar, equal to 1000 Old dinars.

What does that mean?

First, it is necessary to clarify the fact that the abolition of zeros any currency in the world, does not mean in any way an improvement in the exchange rate, and this in turn leads to another conclusion is that the deletion of zeros does not mean as well as any improvement in the Iraqi citizen’s income, it does not mean to address the many economic problems suffered by the Iraqi economy. If that is the case, for all the world’s governments scrapped zeros from their currencies. The deletion will not address inflation and will not contribute to the aggravation, and will enhance the economic reform, that if there is any economic reform originally.

The only goal is to facilitate the buying and selling processes, and the mitigation of carrying large quantities of banknotes, and perhaps give a positive psychological boost for Iraqis, so that they feel, even if only from the door of the feeling, that the purchasing power of the dinar, has become the best. In any case, we must clarify here is the fact that the Central Bank of Iraq, the authority is independent of the government is not entitled to state intervention work.

Of course, this only theoretically, but practically, God alone knows.

If we go back to the reasons, which led to the current situation of the Iraqi dinar, it is possible to say, that, during the period of the comprehensive embargo on Iraq between 1990 and 2003, Aracaah economic crisis stifling strong collapse of oil exports, and the deterioration of the production wheel, industrial, agricultural, and high unemployment have emerged and inflation, and the lack of external debt repayment, and a chronic deficit in the state budget.

Therefore it was intuitive falling exchange rate sharply until it reached parity value of the dollar to 3,000 Iraqi dinars in 1995.

Because of this situation, it has become necessary to issue new cash categories and reached the nominal value of 250 dinars, but in fact, is not equal in terms of real value only 25 fils of the value of the Iraqi dinar during the years of the seventies. Thus emerged three numbers on the Iraqi currency. When the United States occupied Iraq in 2003, was quick to cancel and replace cash categories, in order to facilitate internal trade in everyday life, it has become necessary to add other numbers. Instead of dealing with a paper dinar and five dinars, as well as Algchrh, and twenty-five dinars, Pat dealing in the currency of the seven categories are 50 and 250, 500 and 1,000 and 10,000 and 25,000 dinars.

Therefore, the thinking is now heading to the road is easier and faster, which is deleted 3 zeroes from the dinar. The paper of 5,000 dinars category, for example, will be replaced by other Aorkh $ 5 dinars. Again I say, if the reasons for the deletion of zeros is almost confined to the psychological aspect of the desire of a high exchange rate of the currency, it will enter the joy to the hearts of all Alaraceyen, by suggesting that the dinar will return to the glorious past. But in fact, these false joy, nothing else.

http://arabic.arabianbusiness.com/politics-economics/2014/oct/27/373512/

Hakim renewed his call to support investment and the private sector to compensate for the decline in exports and imports of oil

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[Baghdad-where]

New head of the Iraqi Islamic Supreme Council Ammar al-Hakim, his call to support investment and the private sector to compensate for the decline in oil imports because of low prices and a loss of some export outlets.

A statement by the Presidency of the Supreme Council for the Agency has received all of Iraq [where] a copy of the “wise between during a meeting at his office in Baghdad’s electricity minister Qasim Fahdawi that investment and the private sector should support the things normal, let alone circumstance exceptional like the one where we are,” calling for “resolving power projects and an end to the crisis that has plagued the citizen. “

For his part, briefed the minister on the ministries of electricity Hakim problems and what you need, “calling on everyone to” support the ministry. “

The Minister Fahdawi that “the problem of the ministry need everyone’s support from the government and the political blocs,” adding that “there is a plan for the advancement of electricity need everyone’s support.” End

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Abadi: We received new weapons and restructure our troops

GMT 22:53 2014 Monday, October 27

He refused to send ground troops to Iraq, a foreign

Dr. Osama Mahdi

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Iraqi Prime Minister Haider al-Abadi announced the arrival of new weapons from abroad to his country’s troops, stressing refused to send any foreign ground forces, revealing the processes to restructure the armed forces and the elimination of corrupt them and pointed out that the organization Daash murder of the year more than the killing of Shiites.


Osama Mahdi: Iraqi Prime Minister Haider al-Abadi said in a speech during a meeting with a delegation from the Anbar province (110 km) west of Baghdad in the presence of the commander of the Anbar Operations team Rashid Flaih and members of the local government and pursued “Elaph” evening through local channels that the security coordination between the formations of troops Iraqi Volunteers popular crowd, which enabled the control of the hand of the rock cliff south of Baghdad a few days ago is urged not to underestimate the capabilities of the organization of the Islamic State “Daash” who said he has the ability to kill and lethality in conjunction with whatever the magnitude of the bad beliefs.

He explained that the army aviation works day and night in order to cover all the pieces have been able during the last period to protect Baghdad, and many of the areas of risk, “Daash”, stressing that the work to eradicate corruption and restore the army restructuring through to come with people who are ready to die in defense of the homeland.

He pointed to the existence of few corrupt harm to the military and security establishment will be eliminated because it was the cause of what happened to the security forces during entry “Daash” to Mosul, Tikrit and some of Diyala, Anbar and Kirkuk regions, warning of the danger of rumors on the morale of the fighters being more dangerous even than chemical weapons.

He added that those who come and volunteer in the ranks of the security services for the money will be defeated and will not win, “and we want forces to defend valiantly on the ground and hold up in the face of the enemy, because our problem today is not the lack of number or equipment it is the determination and the ability to withstand the problem.”

He stressed Abadi to reject the entry of foreign ground troops to Iraq as part of the war against “Daash” and said: “We are against the idea of ​​bringing foreign ground troops because the Western countries do not want it, although some of them offered such a thing, including the neighboring like Jordan and Turkey and possibly states may offer other countries and similar applications, including Iran, Saudi Arabia and the Gulf states to support Iraq on behalf of its security and defense, “but he welcomed any regional or international effort to stand with Iraq and assisted manner not prejudicial to the sovereignty of Iraq.

He said, “We rely mainly on self-capabilities and this we say to friendly countries and other countries in the region opposition was not considered a threat Daash and stood idly by the crisis, but now has changed its position after Daash threat to its security.”

He said the Iraqi official said the air strikes all the international coalition completes the approval of Iraqi authorities, he said, “we blame on some countries that promoted in the media about this support without actually translate it on the ground, but recently the pace has increased raids on Daash.”

Abadi revealed the arrival of military equipment to Iraq from abroad, adding that the other will turn but did not mention the source.

“I asked a quick equipment from abroad and some of them arrived and another will come soon and will be distributed to military units in accordance with the needs of each area of ​​operations and conclusive.”

Daash killing of more than a year of killing Shiites

And on the organization of the Islamic State “Daash practices” Abadi said that he killed the sons of the year more than they kill Shiites and destroyed most of the cities on his hand in Iraq or Syria was Sunni.

“I am responsible for all Iraqis everywhere, regardless of his religion and doctrine and affiliation, we have tried as much as possible that the government will be representative of all shades and components.

He stressed the need to respect all beliefs and religions, sects and not atone or erase the identity of the other.

Abadi added that the sons of the southern provinces (Shiite) are ready to defend the areas occupied by the organization Daash (Sunni) some of affiliation or identity, contrary to what some promoted by politicians from the southern provinces not able to go to the sons of those areas.

He said that the Iraqis are proud of and is proud of belonging to the nation recognizes freedom of religion, “and we are honored to religious and sectarian diversity that exists in Iraq for thousands of years and this thing is trying to elements Daash tinker with now by creating a distinction between citizens of one community by claiming falsely belonging to the Sunnis.”

Abadi called to give steadfast cities generally terrorism all aid in order to deliver an important message that the government stands steadfast with not neglect them to other cities, but because those cities deserve all the support for resilience.

The Iraqi prime minister expressed great optimism in overcoming Daash shortly stressing that “this optimism is not wishful thinking, but real.”

Abadi described his visit to Jordan last Sunday too as positive and said the officials, including the king of Jordan said they felt threatened and he did not have a reservation in support of Iraq and stressed their respect for Iraq’s sovereignty and considered the legitimacy of the current government does not exceed in dealing with Iraq.

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Finance Minister Hoshyar Zebari: new measures to advance the 100 s

Fallujah News / Baghdad … Finance Minister Hoshyar Zebari, said the ministry will consider measures in all allocations and financial transactions, including the salary of the 100 advance.
Zebari said in a press statement, said that after assuming the functions of the Ministry of Finance ‘will be an examination of all imports and Aforeigat and meet all the requirements and rights’.
Zebari said that ‘there is a special procedure with all the major banks and the sub, so as to ensure the advancement of the banking sector and make it a parallel to what exists in neighboring countries and the world.’

Today .. and Ministers of Finance and the oil in the House of Representatives to discuss the financial situation of the country

28-10-2014 03:06 AM

Fallujah News / Baghdad … discusses the Iraqi Council of Representatives, in its meeting scheduled to be held on Tuesday, which will be attended by Finance Minister Hoshyar Zebari, and oil Adel Abdul-Mahdi, the financial and economic situation of the country.
He said the National Alliance MP Majid Ghraoui that ‘among the works of the House of Representatives agenda for tomorrow host the Ministers of Finance and the oil in the federal government to talk about the conditions of the financial budget for 2014, as well as the financial and economic situation of the country’, adding that ‘among the questions that will be presented to the ministers, allocations security file needed by Iraq to fight terrorism, as well as the impact of lower selling prices of oil on Iraq ‘.
He pointed out that ‘the financial budget up to now in the Cabinet, has not been sent to the House of Representatives’, adding that ‘when the Council will hold an amendment in accordance with the proposals by the House of Representatives, and then recognizes’.

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Abadi looking in Jordan coordination in the fight against terrorism, economic and files ..

A spokesman for his office («Middle East»): No knots of Iraq with any country

Jordan’s King Abdullah II when he received Iraqi Prime Minister Haider al-Abadi in the royal palace in Amman yesterday (AFP)
Oman: Mohamed Da’ma Baghdad: Hamza Mustafa
Carrying Iraqi Prime Minister Haider al-Abadi yesterday more than one file to be discussed with the Jordanian officials in his first visit to Jordan after the formation of his government to open a new page in bilateral relations that have been affected in recent times due to the repercussions of the deteriorating security situation and as a result was able to organize Daash to extend its control over large parts of northern and western Iraq.Informed sources said the «Middle East», said Abadi discuss the fight against terrorism and help file Jordan for Iraqi forces to regain control over parts of Anbar province and the expulsion of the organization Daash them.

The sources added that the development of bilateral relations, taking a large portion of the talks, which included energy, oil, transport and investment and the Iraqi debt owed by Iraq file and the entry of Iraqis to Jordan.

During the reception of Jordan’s King Abdullah II Iraqi Prime Minister discussed international and regional efforts to counter the threat of terrorist organizations and extremist ideology. He stressed the Jordanian monarch pledged his country and support the international coalition to confront the terrorist organizations and the fight against extremist ideology, who said he targeted the security and stability of all countries of the region and its people do not exclude anyone.

A statement of the Jordanian Royal Court of King Abdullah II of Jordan reaffirmed full support for Iraqis in their efforts to establish security and stability in Iraq, which is the security and stability of a key pillar of the security and stability of the region. He pointed to the full Jordan’s keenness on Iraq’s unity, and standing by the Iraqi people in order to build the country and enable it to strengthen its national unity and reconciliation among all its components according to the plurality and democracy, stressing the importance of involving all segments of the Iraqi people in building the present and the future of Iraq.

In turn, the Iraqi prime minister stressed his keenness to strengthen cooperation with Jordan relations. He also stressed his country’s keenness on the perpetuation of consultation and coordination with the Kingdom, in all that would strengthen and consolidate bilateral relations in various fields, and serve the common interests of the Jordanian and Iraqi peoples.

Ebadi said during the hearing held talks with his Jordanian counterpart Abdullah Eagles: «future vision that there should be an integrated relationships by linking the political, economic and commercial interests and to track the political relations of trade and economic interests». And accept Abadi and security challenges facing Iraq terrorist and foremost organization Daash.

Jordanian and Iraqi sides held talks in Dar prime minister of bilateral relations between the two countries and ways of enhancing them in all fields, according to a statement addressed to the Jordanian prime minister. The two sides discussed ways to strengthen relations between the two countries and activating the agreements signed between the two countries and overcome the obstacles that may be an obstacle to increase mutual cooperation and trade, in particular in the presence of a free trade agreement between the two countries. The two sides also discussed the project of extending the oil pipeline between the two countries, which becomes whereby the port of Aqaba a strategic port for the export of Iraqi oil and supplying Jordan with part of its oil needs, where the two sides stressed their commitment to the implementation of the project as display the Jordanian side the possibility of stalled since the beginning of this year, Iraq’s oil import due to security situation in Iraq by steamship.

Search has been the subject of Jordanian prisoners in Iraq, including 12 who remain prisoners after they have been released five prisoners, where the Jordanian side asked for the possibility of issuing special amnesty or application of the Convention that Riyadh spend the rest of their sentences in Jordan, with the exception of those convicted of terrorist acts. Talks dealt with the relationship between the two countries during the debt talks, as well as the possibility of allowing for Royal Jordanian Airlines to increase flights to Iraq. He called the Iraqi side to facilitate the procedures for exporting Iraqi Baltimore transit through Jordan to the countries of North Africa, where he instructed the Jordanian prime minister to dissolve this matter immediately.

Meanwhile, the head of the Iraqi Business Council Majid al-Saadi confirmed that accompany the Iraqi Prime Minister to officials specialists for the oil pipeline that Iraq intends Term for Jordan emphasizes the importance of the continuation of the project. Saadi stressed the «importance of extending the oil pipeline to Jordan project, which we adopted since 2006». And between «and that at the request of Dr. Abadi to hold a meeting with the Council, which is the main representative of the investment and economic sectors in Jordan». The Chairman of the Iraqi Business Council that the aim of the meeting «put the concerns of Iraqis abroad», adding that «we have prepared a working paper which Iraqi refugees and the Iraqi community and business».

Abadi elders and notables Anbar province, located in Amman also met to discuss the issue face «Daash» cities of the province and edit them.

For his part, stressed tributary Jabouri, spokesman for the prime minister’s office, told the «Middle East», that Abadi’s visit to Jordan «is not part of a regional tour, as he would return to Baghdad after its completion, as it came at the invitation directly from the King Abdul Abdullah II during their meeting in New York during the meetings of the General Assembly of the United Nations ». He Jabouri, that «Abadi completely open to all forms of Arab and regional relations, and there are no knots no problem with any country, and therefore there is quite a desire in coordination with all countries and at all levels because we believe that the danger that is facing everyone in the region is one risk which the threat of terrorism ». He pointed out that «Iraq is counting on the strengthening of the positions of countries in the region in the field of the fight against terrorism within the framework of the international campaign against al (Daash) terrorist.»

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Committee to prepare the budget emphasizes the need to reduce expenses as much as possible to avoid financial crisis

Monday, October 27 1 / Okrudolf 2014 20:18
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[Baghdad-where]
Special ministerial committee to re-prioritize the federal budget for 2014 at its meeting today stressed Monday the need to reduce non-core expenditures in ministries and state bodies allocations to avoid financial crisis.
A statement by the Ministry of Finance Agency has received all of Iraq [where] a copy of the “ministerial committee headed by Finance Minister Hoshyar Zebari held today a meeting attended by the ministers of the interior, electricity, health and planning, higher education, trade and the central bank governor and the head of the advisers and the Secretariat of the Council of Ministers, experts and the Ministry of Finance to discuss the situation the current fiscal 2014 budget and ways to reduce the fiscal deficit and the rationalization of expenditure. ”
The meeting stressed according to the statement on “the need to reduce non-core expenditures in ministries and state bodies allocations and pressure on costs as much as possible to avoid the aggravation of the financial crisis and liquidity The meeting discussed a number of options available to the government to finance the deficit from a number of resources available for the remaining period of the fiscal year.”
The statement pointed out that “During the meeting, they reviewed a number of practical ideas and proposals to overcome the financial and economic crisis as a result of the decline in oil revenues, the quantity and price for the failure to achieve the goals of the planned production have when preparing the 2014 budget as a result of conditions of security and dilation and the control of the organization of state terror Daash in a number of northern and western provinces and targeting terrorism, blind to the lives of citizens and the structures and strategic projects. ”
“The ministerial meeting also studied a number of measures to maximize the financial resources in the future through the adoption of the necessary legislation.”
The Cabinet had decided on 21 of this month and the first session after the completion of the formation of the government, “the formation of a ministerial committee headed by Finance Minister Hoshyar Zebari, and the membership of ministers [of oil, electricity, health, trade, planning, defense and interior and Higher Education and the Governor of the Central Bank, and the experts.”
The Committee shall re-prioritize the federal budget for the year 2014, in the light of the observations put forward for Cabinet members, including lead to reducing the large deficit budget, and submit its recommendations to the General Secretariat of the Council of Ministers for the purpose of presentation in the Council of Ministers and then sent to Parliament for approval. End