Currency Newshound Commentary: This is a great read…simple as that!
Obeida Naimi – still the national currency of Iraq (Dinar) at a standstill, and we believe it is just the demise of the economic embargo imposed on Iraq for 12 years, the (dinar) will restore its health, if not the one from three dollars, Frosa head, it is true that the improvement slightly emerged after changing the political system, and the issuance of new editions of the coin, but the exchange rate stood at a certain point, and it seems that those charged with formulating monetary policy, dissatisfied with this result, as if they were afraid of aftershocks hit the currency setbacks new, maybe not Tsafha any actions timely or future, and therefore see a picture of the economy through the value of national currency against hard currency, which controls the course of all economic activities, and greatly affects the living conditions of citizens.
We do not know, why there are no plans to jump currency to the top, especially given that oil alone is fit to be a cover for them, as in the seventies of the last century, as awarded the purchasing power in the currency market, possible that conferred today with force, but if there is a strain What prevents this, as public policy factors are influential, so policies are economic factors are affecting the other.
But, let’s move away from the conspiracy theory that Akhartna much, after that we are, we believe we are moving Kalrobutat, or pawns of chess, by hidden hands, and try to expose some of the imbalances in the economic structure through self-flagellation to publicly Nnatq the status of the dissipation of the East once, and the West times .
The beginning, we must recognize and acknowledge that our real problem, we do not have the ability to manage state resources properly, and this does not mean lack of talent, but because this (talent) is absent for the levels of responsibility held positions in the absence of time, and they lack the possibilities scientific, technical, and here was this problem as a stumbling block to raise the value of the currency from its current rate.
No doubt, that the currency is the interface the country’s economy, as noted, is a means and not an end to economic exchange, and therefore the high value that is associated with activating the various economic sectors so that there is diversity in the sources of national income, instead of limiting it to oil imports, although these imports alone are eligible to strengthen the currency, but in a country as diverse resources such as Iraq needs to achieve its investment process, comprehensive, in order to believe in other sources within the general budget resources, in addition to preventing waste of hard currency to import goods and products that can be produced locally, and which adversely affect the currency based on national supply and demand.
The deterioration of the economy in any country, and the deterioration of productive sectors, is reflected directly on the reality of its currency national, so we need practical steps to start investment projects, for infrastructure development, for economic growth, and pumping of hard currency at home.
We would like to point out here that the adoption of the Iraqi Central Bank to pump hard currency in its daily auction to control the exchange rate of national currency against the dollar, can not raise the value of the currency, but keep it to a single case of stability with some of the rise or decline marginally, what should be to put a policy appropriate to the country’s resources to the high value of the currency, to not only be including the deletion of zeros at the present time, what caused the severe damage to slices of employees and retirees and the totals of salaries of social protection network, and the poor in general, and if he does not need this procedure, it should be preceded by a plan to stimulate the re-cycle of the process productivity and economic whole, in various agricultural and industrial sectors, services and deliberative, banking and investment, thereby promoting each episode the other links in the mobilization of all reservoirs, capacity and channel players, either reclining on (deletion) in raising the value of the currency, it is just a fake so-called phenomenon of (monetary illusion), and does not constitute a real phenomenon, because the real value of the monetary union (the dinar) is in the amount of goods and services that can be obtained in time, which does not reflect the monetary value of the number before manifested any signs of the true value of the monetary union.
So, no room for deception, or lure people through the mechanisms of temporary soon turn against them, Bala, and are taking steps to correct for the advancement of economic reality, all the way to restore confidence in national currency and the real exchange rate.