Monetary policy Syed Ali Keywords current central bank governor (third episode)
Monetary policy Syed Ali Keywords current central bank governor (third episode)
Thursday April 7, 2016 – 01:56
By: Mohammed Tawfiq Allawi mentioned in the previous episode six themes that represent monetary policy to Dr. Shabibi with stated its ups and downs, my brother Mr. on the Keywords, I’ve read your post more than once and that contain a lot of detail, and some achievements to thank them and I will mention in the rings the next, and you defended many of the actions taken by and a lot of true your words and I will prove to each other now and in the coming episodes, God willing, but the theme of this episode is monetary policy; not Okhvak secret I tried to Find you landmarks monetary policy between the lines of your message, but I Unfortunately I say , and the pain that you do not have only a fraction of what is commonly by monetary policy, but that a lot of the themes that I mentioned I’m in the previous episode, which represents monetary policy to Dr. Shabibi they turn to the negative policies of the antithesis of what we achieved , Dr. Shabibi, Maintaining a constant currency rate It ended, yes it may not be the reason that you are not only specialized in the banking industry, but global oil prices , deterioration, while the central bank reserves were wasting nearly half a reserve during the two years of assumption of office, and without the presence of a prudent monetary policy will end its reserves during a period not exceeding two and a collapse of the Iraqi dinar and the collapse of the Iraqi economy will suffer Iraqi citizens suffering may resemble their sufferings during the nineties in the period of the embargo on Iraq, and you lack the policy of unification of price between the central bank and the market price, but the difference has reached record levels not seen her Iraq ever seen since 2003, where the difference was during the eight years since 2003 until mid – 2011 , no more than two points after calculating the Bank commission, but the difference now have over ninety points, with increase on a daily basis, which means that the thefts list in full swing with this great suffering of the citizen – Sharif in the present day, the confidence engendered in the era of Dr. Sinan eligibility banks lost in the present day, and people began Evzon deposit their money in the Iraqi private banks, but they took receive their deposits dropper of private banks, the central bank did not take any step in the defense of the rights of citizens , unfortunately, and if he is not primarily responsible for what is happening in a lot of private banks , where queues of dozens of citizens as if they are not clamoring for their money and their rights, but they became the aggressors Ahli Bank is the owner of the credit for them in giving them their money !!!!!!!, the truth is this ironic and strange himself out new Iraq, any bank in the world if one day for the payment of depositors ‘ money declares the central bank bankrupt deficit, and this is what happened to the Intra Bank in Lebanon in 1966 , where its investment in kind increased liquidity that must be provided by the account, and when the day ‘s inability to respond to the requirements of depositors the bank announced Lebanese Central bankruptcy, knowing that the bank ‘s assets from the financial liquidity and physical assets outweigh the deposits of depositors because it is universally allowed to hesitate bank or delayed even a small amount of time to pay the deposits of depositors, because otherwise the bank loses its raison d’être parting basic function. As for the increase in prices of food and essential commodities has reflected negatively heavily on citizen because of the large difference between the price of the dollar supply by the central bank and the price of the parallel exchange market and what it means to increase the burden, particularly on the shoulders of Sharif citizen who does not accept the same with taking a bribe and corruption and corruption and enjoy the money Haram , which has become extremely prevalent for many politicians and workers in the state departments of culture Unfortunately , today, I have said that inflation fell in time to 2% , which is a distinct ratio, but I tell you, that lower inflation is not necessarily a positive sign, yes definitely low inflation as a result of monetary policy informed by the central bank in order to reduce liquidity and reduce the money supply positive sign and proof of the success of the monetary policy of the Central Bank, but if the decline in inflation due to external circumstances and compelling, as is now the case in Iraq, where the diminished resources of the country and imposed policies austerity by the state, and reduced pensions and imposed costs and other charges on the citizen, and emigrated citizens outside the country, and offered their homes for sale or rent at the cheapest prices, fell real estate prices, and decreased rents, how much you know, rents weight comes second after the weight of the food when adjusted for inflation and foremost, it was the decline of inflation due to economic contraction, this case a bad sign, and you can ask many economists who are around you at the central bank if the decline is because of the policies of non – existent at the Central Bank or due to economic contraction, Vsakhbrook truth, unfortunately you can not in this case brag about low inflation, but on the contrary it deteriorate guide and a lack of citizen and increase the suffering. my dear brother told me to ask, the international Monetary Fund and the World Bank, the financial action Task Force, the US Treasury, the Bank of the Federal reserve, the Office of financial supervision, the Office of the global audit on your efficiency, and the truth I did not ask Dr. Abadi is to get out to meet recently with (Osgood), as well as that I reported in the media that Britain ‘s greatness and the greatness of its universities has chosen a man who is a British (Mark Carney) , a Canadian man to his appointment as governor of the Central to her bank (Governer of Bank of England ) of the importance of this site and the importance of the person who assumes the this place, I do not want here in this area that the questioning Bkivaitk, but I will say that you learn the right of certainty that there are Iraqis who are the most efficient you much in this area and more deserving of you on this site, as I say on your interview with ( osgood) said that my understanding , from your interview is not a detraction, but that you may not have the desire to follow economic developments and economic analyzes, and my advice to you that the committee to provide you with a form on a daily basis of the report of the most important economic developments and economic analysis mission in the world, which have repercussions on the economic situation in Iraq, and based on this report before you’ve made any interview universal, but based on this report to draw the foundations that must be adopted to develop a sound and clear the country ‘s monetary policy. Central Bank of Iraq have visited in 1977 when I was a student within the university thesis associated with this for the command to Consider the sources of economic information to be adopted by the central bank in the that time, it found a large hall adorned with two (telex) and was one of these two devices ergonomics continuously briefed on the content of the information was the newsletters short , most of the agency (Reuters), I asked the official , the possibility of taking these messages image, so the official appropriation of several meters from another News and gave them to me, I asked him if he wants the original text where information is printed more than (Copy), he said to me that we throw away this information we do not need them for is a small part which prices of various world currencies relative to the dollar , as well as precious metals prices and the export of these prices newsletter language Arab, this situation was forty years ago, and I’m afraid that the country has not changed and put a lot now, but today all the information and economic analysis both have computers available, and there are dozens of outstanding graduates in their abilities and capabilities, and you can easily set up a team of them to provide summary of news and analysis economic and issuing a newsletter distributed to all economic institutions and the House of Representatives and the head of Ministers adopts these reports to draw cash, financial and sound economic policy to save the country from the dire situation we’re in. the most important thing should be that the central bank is to distinguish professional, although I can not within this urgency to ask those who put their names to their favorable consideration as your requested, and the truth , I do not need so I can be the central bank held by assessing the performance and the reflection of this performance on the economic situation of the country, but I say if there is a lack of monetary policy in a constructive, the central bank can deal professionally and independence; I have been told of one Iraqi newspapers pervasive (all news) after they have published my letter to the Prime Minister Dr. Haider al – Abadi, in which a clear signal to you, the central bank to stop their ads; fully that this is not a deliberate policy, and fully that this procedure be individually and unintentional and not the decision you made, because otherwise means that the central bank lacks professionalism and independence , one of the most important characteristics, do not want to anticipate events so perhaps the wrong action has been taken in without your knowledge. I do not , seeking detracting from you or mention Mt, but I as I mentioned in my first message to you my goal to save the country and alleviate the suffering of our dear and honorable people and educate them, they deserve our sacrifice and all altruism Balgali and cheap to rid them what awaits them from the Carpathians and the difficulties and Aptlaouat days Mdelhmat as he is coming them; and I know that your success means success and saved the country and save his family , which could awaits them from an unknown fate, so I suggest you some suggestions that worked out were you success and evolution, and the country ‘s advancement and prosperity, and citizens the good and the salvation of a large and alleviate their suffering; that these proposals are the tip of the iceberg that took them carried a large part of the right of your country you have the right of our honorable us, and this is what I will discuss in the next episode, God willing. I Scurry in the evaluation of others is always one verse (not Make Every people have their personal items), and you though it would seem that touched me a lot of negatives, but from watching the things the central bank I have read steps taken in fighting the high degree of corruption because of what is known as the (volatile instruments) have found that you have achieved a major breakthrough in this area and this is what I will talk to him in detail in the coming episodes, God willing.