Flooding the Iraqi dinar and stopping the auction is the solution for the economy
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Thread: Flooding the Iraqi dinar and stopping the auction is the solution for the economy


    
  1. #1

    Flooding the Iraqi dinar and stopping the auction is the solution for the economy

    Flooding (floating) the Iraqi dinar and stopping the auction is the only solution for the Iraqi economy

    Majid Al - Turaihi - In light of the results of the Kuwait Conference, which is not encouraging in solving the Iraqi economic problem, especially after the destruction resulting from the war on terrorism, we must think about radical solutions and benefit from the experiences of other peoples

    I would like to refer to the experience of two countries at the present time, which is the experience of poor Egypt and the experience of the Venezuelan oil-rich country

    The experience of the sister banker float the Egyptian pound in 2016, which produced my results after only one year of floating the first year float .. Egypt stronger "in numbers" after the liberalization of the exchange rate .. Cash reserves jump from 19 to 36.5 billion dollars .. And 56 billion dollars to save Imports, 13.7 billion dollars in surplus payments and 17.3 percent increase in foreign transfers

    Floating currency "means an exchange rate against the dollar or any foreign currency away from any intervention of the government or the central bank in determining its price, and its value is linked to supply and demand

    Yes, the flotation of the Egyptian currency led to a decline in the price of the pound against the dollar from about 9 to 17, but the state still provides the necessary materials and medicines to the citizens and did not increase the proportion of poverty knowing that Egypt imports most of its oil needs from abroad,

    The second example is the state of Venezuela, which is very rich in oil and is now on the brink of bankruptcy, where its economy is run in a similar way to what is happening in Iraq at present. The currency of Venezuela is now 3 exchange rates, according to the exchange rate of central banks, the price on the black market, In exports with a large corruption in the work of the central bank

    Iraq is undoubtedly on the Venezuelan example, if not taken radical reforms similar to what took place in Egypt with a big difference to the Iraq and Iraq Huan oil revenues from the export of oil in December 2017 from $ 4-6 billion means about 76 billion dollars per year

    The desired benefits of floating the transaction with some of the procedures are similar to what Egypt has taken with a transparency

    The central bank's reserves will increase by up to $ 40-50 billion in one year (the central bank's reserves could increase by more than $ 16 billion in one year). This amount will enable the start of major projects for energy, water desalination, agricultural projects, construction of hospitals and factories and through international companies. And will pay the price of these projects of oil imports without waiting for the foreign investor and this process will provide hundreds of thousands, but millions of job opportunities for unemployed Iraqis (foreign investor will come to foreign workers as often as with oil companies) and foreign investor, even if it comes in time The present will benefit from the auction sale of the current currency and the result is damage to the Iraqi economy, as is the case with mobile phone companies, but in case the suspension of the auction will affect the interest of Iraq, even with the foreign investor

    What is the potential damage in the case of Float?

    Of course, there is a danger of a decrease in the Iraqi currency, but for employees whose income is not more than $ 1000, the damage will be limited and at the beginning only and only for the value of procurement of luxury materials, but will be met by the improvement of electricity, hospitals, medical devices, medicines, roads, water and credit card. There is the possibility of getting more members of the family more Of jobs. But when the economy, farms and factories of Iraq begin to circulate, the decline of the currency will be an old story

    This process can reduce rampant corruption and imaginary companies and it is possible that the Iraqi economy will turn into one of the largest developing economies

    In any case, it is possible to refer to the sale of the currency a second time after a year or two if he did not write this process success and I do not think that and ask the people of Egypt



  2. #2

    Re: Flooding the Iraqi dinar and stopping the auction is the solution for the economy

    Where did this article come from. I seen it on several blogs but nobody has a link for it. I seen one link but it didn't have the article anywhere in the site...

  3. #3

    Re: Flooding the Iraqi dinar and stopping the auction is the solution for the economy

    Quote Originally Posted by Dkwsly View Post
    Where did this article come from. I seen it on several blogs but nobody has a link for it. I seen one link but it didn't have the article anywhere in the site...
    https://kitabat.com/2018/02/15/%D8%A...9%D9%85%D9%84/

  4. #4

    Re: Flooding the Iraqi dinar and stopping the auction is the solution for the economy

    Thanks for the link.

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