Thread: No Revalue? Word From Minister of Finance?

Ok, here's my take on this for what it's worth. I like to break the articles down some. My translation is in Navy Blue..



On the latest statements from officials in Iraq to change the structure of the new Iraqi currency, "current" emphasized that the biggest.

"Recently Iraqi officials have stated that they would like to
see the Dinars value raised higher than it has ever been."




There is a real intention to change this currency, a new and transforming the same price, pointing out that the Iraqi currency at the present time seemed a marked improvement on previous periods as well

"We are serious about raising the value of our currency and are tired of seeing the same price, although at present the value is higher than it has been recently but it is still not good enough."




unlikely that the Iraqi dinar is exposed to pressures lead to the deterioration of these

"Although the Iraqi Dinar is exposed to a lot of pressure it is
unlikely that this pressure will stop the Dinar from rising in value."





Currency under a future projects and economic renaissance, which will experience them the future of Iraq

"Projects in the future will be paid with a higher valued Dinar"





all indications portend the arrival of an awakening economic aimed to raise the Iraqi situation among the ranks of Arab and Gulf countries

"The time has arrived to make our currency comparible to that of our neighboring Arab and Gulf countries."





especially its impact

"It's gonna' be big!"





The concrete about raising the value of the Iraqi dinar.

"Prepare to reap your rewards."





Ok, sometimes I read stuff backwards but after breaking it down some that is what it says to me. Sounds a little better anyway.


lewscrew

yeah,.....what he said!

lewscrew,
You make a whole lot of sense.
Thank you.

it doesnt seem like you have a Lewscrew. ill take your take

Originally Posted by deepfreeze

it doesnt seem like you have a Lewscrew. ill take your take

That was enjoyable read. I take your take too.

me too! and the ICI is when it will all be revealed! WOOOOOOOOOOTTTTTTTT

No reprint, no lop, forget it.

Translated version of http://www.newsabah.com/paper.php?name=News&file=article&sid=22813


Baghdad : al-Basil



يواصل البنك المركزي العراقي القيام ببيع الدولار الاميركي مقابل الدينار العراقي من خلال المزاد اليومي الذي يقام فيه، اذ يعد هذا المزاد اداة لتحقيق الاستقرار في قيمة الدينار العراقي عن طريق الدفاع عن سعر صرف مستقر لمدة طويلة مما ينعكس على المستوى العام للاسعار.
The Iraqi Central Bank to sell the American dollar against the Iraqi dinar through a daily auction exhibit, which is an auction tool for achieving stability in the value of the Iraqi dinar by defending the exchange rate stable for a long period, which reflected the general level of prices.

ذكر ذلك مصدر مسؤول في البنك المركزي العراقي رداً عن سؤال لمندوب”الصباح الجديد“ واضاف المصدر: انه لا توجد نية في الوقت الحالي لتغيير العملة العراقية ومن المتوقع انه يتم اصدار فئات جديدة الى التداول وحسب مقتضيات الاقتصاد العراقي لمواجهة نفقات الدولة في المرحلة المقبلة.
According to an official source at the Central Bank of Iraq in response to a question from the representative of "the new morning," the source added : that there is no intention at this time to change the Iraqi currency is expected that the issuance of new categories of transactions, and according to the requirements of the Iraqi economy to meet the expenses of the state in the next stage.

وعن الخطط المستقبلية لمعالجة الديون العراقية ذكر المصدر ان العراق وقع اتفاقيات مع دول نادي باريس لمعالجة ديونه وذلك بتخفيض 80% من الدين.
Regarding future plans to address the debt Iraqi source said that Iraq signed agreements with the Paris Club countries to address its debts by reducing 80% of the debt.

اما فيما يخص استعادة العراق لموقعه المالي والاقتصادي بين دول العالم والمدة القانونية لذلك فقد اشار المصدر ان العراق بدأ باستعادة موقعه المالي والاقتصادي تدريجياً حيث ان هذا الامر مرهون بالاستقرار الداخلي للبلد وسيتعزز هذا الموقع بتفعيل قانون الاستثمار وتطور الوضع الامني.
As for the restoration of Iraq's financial position and economic cooperation between the countries of the world, the legal duration of the source indicated that Iraq started to restore its economic and financial gradually since that depends on the internal stability of the country and this site will be enhanced activation of the investment law, and the evolution of the security situation.



اما فيما يخص الاشراف على النشاط المصرفي المحلي في العراق من قبل البنك المركزي ووسائل اصلاحه فقد اشار المصدر الى ان البنك المركزي يقوم بالاشراف على النشاط المصرفي المحلي وكما جاء في المادة (40) من قانون البنك المركزي المرقم 56 لسنة 2004 وكذلك من خلال قانون المصارف المرقم 94 لسنة 2004 حيث ان هذا البنك على صلة بانشطة المصارف باتجاه تعزيز دورها في تنفيذ السياسة النقدية لا سيما من خلال توجيه المدخرات نحو شتى اوجه الاستثمار وبما يحقق النمو الاقتصادي.


As for the supervision of the domestic banking activity in Iraq by the Central Bank and reform of the source pointed out that the Central Bank is supervising the local banking activity and as stated in Article (40) of the Central Bank Act No. 56 of 2004 as well as through the Banking Act No. 94 for the year in 2004, as this related to the activities of the banks towards strengthening its role in the implementation of monetary policy in particular through channeling the savings to the various aspects of investment, so as to achieve economic growth.
من جهة اخرى ذكر المصدر ان البنك المركزي قام بمنح تراخيص مصرفية للعديد من المصارف العربية والاجنبية سواء كان الترخيص متضمناً فتح فرع له في العراق او تأسيس كيان مصرفي، كذلك تم فتح مكاتب تمثيل، وتعد هذه بداية التعاون والانفتاح نحو العالم باتجاه تنشيط حركة الاقتصاد في القطر.


On the other hand source said that the Central Bank had granted banking licenses of many Arab and foreign banks, whether licensing NTSB open a branch in Iraq or the establishment of a banking entity, as well as the opening of representative offices, and this is the beginning of cooperation and openness to the world towards the revitalization of the economy in the country.

Iraqi currency is expected that the issuance of new categories of transactions,

Even though this may have been out before..........the more I read.....it sort of sounds like lower denominations. There broken English leaves you wondering dont it. Thanks ADSTER

lewscrew that does sound about right.........

Originally Posted by cashNsoon

Iraqi currency is expected that the issuance of new categories of transactions,

Even though this may have been out before..........the more I read.....it sort of sounds like lower denominations. There broken English leaves you wondering dont it. Thanks ADSTER

Welcome, agreed. We know there are 5 denominations unaccounted for FACT as 14 denominations were made. Could they be higher notes? Not likely, we already have 25k notes, would make no sense whatsoever.

So yes, one would say they would be lower denominations necessary for a reval.