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Monday, June 11, 2018

Mon. AM KTFA News Articles 6-11-18

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Don961 » June 11th, 2018

The Central Bank Is Opening Its Auction By Selling More Than $ 161 Million


IRAQI ECONOMY

On June 10, 2018

Baghdad - conscious

The central bank on Sunday opened an auction to sell foreign currency by selling more than $ 161 million.

"The amount sold was 161 million and 317 thousand dollars at an exchange rate of 1182 dinars per dollar, with the participation of 33 banks and one company for financial transfer," a statement from the bank said.

He added that "the sale of amounts transferred to the accounts of banks abroad, as well as the sale of cash was the price of 1190 dinars per dollar." link

Towards effective economic leadership

11/6/2018 12:00 am

Samir Nusairi

Iraqis are waiting for the formation of a new government with special national standards whose primary objective is to serve the people, achieve economic stability and reconstruction, revitalize the economic cycle and achieve prosperity for the people who suffered 15 years of instability, terrorism and loss of basic services.

In order for the new government to achieve these goals and aspirations, its main sessions should lead national economic leaders in the next phase. The national economic elites in various fields should have an effective role in analyzing and assessing the economic reality in Iraq after 2003.

Of the economy, adding and enriching the successful experiences and bright spots that emerged during the suffering of Iraq from the financial and economic crisis experienced by them, starting from their national sense to be given the opportunity to lead the wheel of change and the Ahh because the Iraqi economy and Eebenah Aaisalha only his sons, especially his experts, technocrats and Mvkroh people with real experience in the previous process successful work locally And externally.

The observer and observer of the role of government institutions over the past years, in terms of the management of the Iraqi economy, notes failures and challenges with the loss of methodology and the lack of clarity of policies and programs and the lack of harmonization of strategies prepared in partnership with international organizations and experts with the reality of the Iraqi economy monolithic resources, which depends primarily on oil rent and its causes This is due to the structural and structural imbalance in the economy and the lack of stability in the financial system and the monetary system due to the non-oil revenue deficit, balance of payments deficit and the continuing budget deficit, and weak coordination between the financial and Cash, as well as poor management of public money and clear weakness

in the economic leadership of most of the government 's economic institutions and not to involve and give an active role for the private sector in the economic decision - making.

All failures and the war on terror have led to economic instability and lack of vision to build a solid national economy capable of drawing the preconditions for a transition to a social market economy, which I believe is the solution to our economic reality.

These challenges have created pessimism and pessimistic outlook for our economic future among many of our economic elites, but many economic, financial and local experts believe that there are several promising and bright points that some economic institutions have made clearly and effectively during the years 2015-2017, the years of economic and financial crisis Suffocation.

The most prominent of these bright points in this march is the experience of the Central Bank in supporting the national economy while maintaining its functions and objectives set out in its law. The most important achievement of the Central Bank is its contribution to achieving economic steadfastness and strengthening the decisive victory over terrorism.

I do not want to clarify the executive and development procedures and build balanced relations with Arab, regional and foreign banks and its strategy for the next five years, the results achieved on the scope of monetary policy applications internally and convince the international financial organizations and the most important official reports issued by them confirm the success of the policy of the Central Bank to achieve an important transition of the Iraqi economy from The gray phase to follow up. One of the most prominent achievements was to stabilize the exchange rate and recovery of the Iraqi dinar and raise its purchasing power.

In addition to its various contributions and initiatives to activate the economic cycle and enhance the liquidity of banks and reach a re-bridge coordination between the financial and monetary policies and propose new economic and structural policies to prepare budgets for the coming years and attempts to re-confidence in the system The banker.

The CBB has demonstrated its clear ability to interact, analyze labor constraints and create conditions to overcome challenges, and the road is still long before the central bank and the competent government agencies to achieve a sound national economy.

Therefore, the invitation is addressed to the national economic elites to interact with the bright points and experiences and enrich them with their ideas, visions and proposals to build a solid national economy, overcome challenges, correct the wrong tracks, and transparent and calm dialogues without personal and partisan targets. link

Source: Dinar Recaps

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