Chat Room Excerpts & Highlights
Geofitness says(): DETAILS NOTES
Number of banks 29
Number of remittance companies 20
Auction price selling dinar / US$ 1182
Auction price buying dinar / US$ —–
Amount sold at auction price (US$) 91,959,994
Baxter says():I see the auctions are still up and running…. darn….
watson1 says():
http://www.newyorker.com/news/news-desk/the-return-of-moqtada-al-sadr-an-iraqi-operator
Baxter says():watson… thats an excellent article on Sadr… He is very powerful…. Abadi better pray his new cabinet gets the OK….. and that IMO…. is a long shot…
rcookie says():russia lifts ban on iran’s banks…..
larrykn says to rcookie():so is that saying the world is now releasing bans on Iran now, that might not be a good thing
rcookie says():Russia lifts ban on Iran’s banking
April 7, 2016 Economy/agencies Russian Foreign Minister Sergei Lavrov said during a meeting with his Iranian counterpart Mohammad Javad Zarif’s support for Iran’s accession to Shanghai and said the Russian President had ordered on unblock Bank Iran.
Zarif met visiting Baku with his Russian counterpart Sergei Lavrov, and the two sides discussed bilateral cooperation in various fields and regional and international issues.
Zarif noted growing ties between Iran and Russia, stressing the need to enhance cooperation and bilateral consular banking to facilitate cooperation between toward more normalized.
He drew attention to progress in strengthening economic cooperation and reduce tariffs and ease customs regulations between the two countries, describing Iranian-Russian agreement on creating a green corridor for important customs, indicating at the same time having many areas to strengthen cooperation between the two countries.
http://www.microsofttranslator.com/b…7%25d9%2586%2F LINK
rcookie says to larrykn():thats russia….
larrykn says():yes they want to run the ME
rcookie says():Iraq stock exchange recorded a rise in the number of shares traded by March
2016/06/07 (00:07 p.m.) – hits: 105 – number (3618)
Baghdad/range press Announced Iraq market for securities, on Wednesday, the market index for the month of March, a record rise in the number and value of shares traded, compared with last month, while the number of traded shares which 97.252 billion shares.
Executive Director of market Taha Ahmed Abdul Salam told the (term), “Iraq market for securities in March 2016 (22) trading session for the formal market and companies (13) for the second market companies”, stating that “the number of companies listed on the market for the month of February, the company distributed 98 (23 banks, 2 connections, 22 6 industry agriculture, 10 tourism, 10 6 financial investment services, financial transfers, 14 3”
Abdel Salam added that “the number of companies listed their shares on the market for the month of March, (63) (58) in the formal market and (5) in the second market companies, either companies that had not been trading shares amounted to (22) listed company”, adding that “the companies stopped trading decisions of securities to stop (13).
http://www.microsofttranslator.com/b…587%25D9%2585- LINK
rcookie says():The Pentagon is likely to increase the number of US troops in Iraq and support the establishment of a new firearm base
WASHINGTON – Iraq Press -7 April: US Department of Defense , “Pentagon” announced the possibility to increase its troops in Iraq, with the opening of more fire support bases, during the advance of Iraqi troops toward the city of Mosul, in preparation for the liberation of al Daash.,
Said deputy director of the Joint Chiefs of operations , Rear Admiral, Andrew Lewis, that “with the continued isolation of Mosul, it is expected to become an urgent need for the opening of another rule , rather than those that have been used for the same purpose, in previous years, as a rule support the firearm.” and add Lewis, in remarks at a conference journalist,
his contract from the Pentagon headquarters in Washington, on Wednesday evening, that the participation of US troops across the shelling ground “will depend on the attitude of the Iraqi forces on the ground.”
the United States, in March, opened the first military base fiery support, since the start of its air campaign against organize Daash in Iraq in early August 2014. specializes in fire support bases out artillery and rockets in support of ground forces , without direct contact with the enemy.
the fire support “Bill” base, has been exposed after it opened, to attack militants Daash, killing a pedestrian fighters US Navy “Marines” and wounding four others, after the fall of Soark Katyusha rockets on the base , located in the district of drunken Nineveh province, where he trained US trained Iraqi forces soldiers, to prepare them for the battle of Mosul.
and began Thursday 24 March last, the process of “opening” to liberate the province of Nineveh, from the control of the organization Daash who seized most of the territory of the province in June 2014, with the participation of the Iraqi army forces and the Kurdish Peshmerga,
and fighters of the Sunni tribes, in order to restore the areas south of Mosul from the grip of the organization, before launching wider to restore the city to later attack. the campaign kicked off, the Makhmour , which houses a US military base, and patrolled by a joint Iraqi forces Cardah.anthy (
rcookie says():Agree to stay Abadi and ministers “technocrats” nominated by political blocs
Baghdad -arac Press -7 April: President of the Iraqi episodes Council Salim al – Jubouri said the political blocs agree on Haider al – Abadi stay in office as prime minister, and that the play is the nomination of ministers of technocrats talented and honest and bring them to him.
He said al – Jubouri in a televised interview, on Wednesday evening, ” the agreement included several axes, the first move in an overall change with questions about the security ministries and some other ministers. He added,” that ” the second part of the agreement stipulates that provide candidates ingredients, alleged to Prime Minister puts the controls, one of the agreed at the end of eventually, offers his squad to the House of Representatives later.
he continued, ” the third axis of compatibility provides for reducing its government, if any , need to , even though the general trend is to keep the ministerial portfolios , as it previously distributed to the political blocs, as well as the inclusion of independent bodies and agencies in the process change within the agreed schedule.
and the fate of Prime Minister Haider al – Abadi in case efforts to reshuffle fails, al – Jubouri pointed out that the focus now is on the change of Ministers, with Abadi stay in office, and that does is to form a government or change the current ministers.
he explained that the blocks political Do not put the process of changing the prime minister its basic goals, but rather talk about the present candidates technocrats incompetent and honest. on whether there was an international intervention in this matter
rcookie says():al – Jubouri said that “there is a dialogue on the role of international and internationalism powers, as some of these powers progress counseling and advice, others builds perceptions find the political parties need to be taken into account.
“the report by Reuters spoke yesterday about the entry of the United States and Iran in a tacit alliance to support al – Abadi, a challenge the ruling elite ‘s plans to form a government of non – political, address them to corruption. The report quoted Sajjad horses, an analyst provides advice to the prime minister,
according to the agency, as saying that ” the Americans and the Iranians and the reference top Shi’ite cleric Ayatollah Ali al – Sistani had them all the same view is to keep al – Abadi in power, and appoints ministers Jaddeda.anthy (1)
rcookie says():
https://translate.google.com/translate?hl=en&sl=ar&u=http://www.iraqpressagency.com/&prev=search
RickeyT says():there are ministers rejecting their new appointment, what is up with that?
tman23 says():BAGHDAD — A delegation of Kurdistan region headed by Nechirvan Barzani, the Kurdistan Regional Government (KRG) Prime Minister and the US Secretary of State will arrive in Baghdad on Friday, April 8, Al Mada Press reported.
The KRG delegation includes Deputy PM Qubad Talabani, Former Iraqi Deputy PM Rozh Nuri Shaways and Fuad Hussein , Chief of Staff of the Kurdistan Region Presidency.
Meanwhile, John Kerry, the US Secretary of State will arrive in Baghdad in a scheduled visit, the source said. he KRG delegation and the US senior official will be meeting with the Iraqi officials in Baghdad, including the Iraqi president, prime minister, parliament speaker and other political factions.
jtank says():looks like they are trying to fail abadi
jtank says():think they would pass reforms and laws and cabinet reshuffle just to move forward – see what happens, got to be better than Maliki regime
da58 says():interesting the art’s about this iran/usa alliance – and now rcookie’s art – we see they pulled sistani into that now too.. tons of pressure on parliment.. (lol)
larrykn says to jtank():I believe its the ones that know their necks are in a noose that is putting up the fight
da58 says():you don’t MESS with sistani..
da58 says():abadi has alternates – was an art on that as well.
larrykn says to da58():this is coming to a head real fast now
jtank says():but rickyt stated the new ones are turning down positions -why
SugarPie says():GM, all. I have a question for BGG or RCookie or anyone who may know… I was very excited about this quote:
SugarPie says():Quote: “Presidency of the Kurdistan Regional Government Bachirvh form a special joint committee and the exchange of foreign currencies Baerakip.”
SO AS WE SEE — BARZANI HAS FORMED A COMMITTEE IN — KURDISTAN — FOR THE >>EXCHANGE PROCESS OF THE Iraqi dinar…
larrykn says to SugarPie():sounds to me like something good is about to happen 🙂
SugarPie says():However, when I thought more about it, what will Kurdistan exchange the Dinar for? In Iraq, a dinar is a dinar…
larrykn says to SugarPie():wouldn’t that be for dollars for dinar
VelmaF41 says():I hope you are right MOD.larrrykncopier. I am ready to do nothing for awhile – except garden and work at church(F)
SugarPie says():I did think of that but wanted others opinions…
larrykn says to SugarPie():well it would also mean they would exchange any currency for dinar and to do that they need to do what ???
subgirl says to larrykn():be international!!! 🙂
SugarPie says():Pulling the dollars off the street is the only logical meaning I could come up with but just want reinforcement from others more vered in the matter
SugarPie says():International – exactly – music to my ears
tman23 says():Recall……..the Central Bank of Iraq (CBI) made an announcement that it would be cutting all ties to the local Central Bank branches in Erbil and Sulaimaniyeh. When the CBI made the decision it made sure that the Kurdistan Regional Government (KRG) understood what the Central bank was saying.
The CBI sent a special courier to the KRG government who caught a late flight out of the Baghdad International Airport (BIAP) to Erbil. Upon arrival, he gave the letter to an unidentified official waiting at the KRG government office. The CBI cut all administrative, organizational and financial ties with both branches.
The CBI courier had a few more points as well. The Erbil and Sulaymaniyah branch would now report to the Finance Ministry of the Kurdistan Regional Government. The Central Bank no longer recognizes the Iraqi dinars and U.S. Dollars in deposits at the two branches.
After the Central Bank courier had delivered the news, KRG officials set up meetings on how they were going to move forward without any support from the Baghdad Central Bank…….. THUS BARZANI COMMITTEE ON EXCHANGING CURRENCIES……….
heartland says():tman23..gm..is that good news or bad news?
Woodywoodpecker says():lol I was about to ask the same thing
da58 says to tman23():thanks – very interesting
watson1 says to tman23():not good hmmm
larrykn says():I think I like to see more on that before making a decision on what that about
allinxpress says():Millionday sounded like this was a good thing.. IMO
watson1 says to tman23():not worry as mr white said the imf is in charge
larrykn says to watson1():your right everything has been planned out already we are just seeing it come to be
watson1 says to BGG():what is your take on tman23 post ?? do you think that IMF told the cbi to do that ,bythe way Good morning
watson1 says to BGG():many this one of the things imf told cbi they need to do..
watson1 says to larrykn():i think the imf told the cbi to do this ??
BGG says():I’m not sure how the CBI can “not recognize” their own (and the USD) currency… it’s a currency – not a “bearer bond” with some tracking mechanism… It is not impossible the CBI cut ties with those various branches – probably should have long, long ago…
BGG says():which just illustrates the rampant corruption / ignorance they deal with daily…
watson1 says to larrykn():remember we have april and may 2016 for them get this all done . i am sure these next few week we will see alot out of cbi which make say hmm ,but like mr white IMF is driving this ship .
BGG says():on the other hand, if there truly is some kind of “financial reform” delay at the port for selling oil – I guess they have an angle – and it might be a HUGE deal for them. IDK.
allinxpress says():hopefully were not sitting here in July lol
larrykn says to BGG():maybe that is why the kurds cabinet member didn’t take the job
tman23 says():The KRG raided the deposits in the 2 banks to cover their expenses since Baghdad was not sending money AND the CBI had not been replenishing the banks with IQD for the Kurd territory prior to ISIS 2014 but used the war as a reason afterwards……..
watson1 says to BGG():i am sure there will be a lot coming out that make us say hmm and why these next few weeks .
BGG says to larrykn():from what I read – the Kurd didn’t take the job because pro-Maliki forces surrounded his house. This was a good move on Abadi’s part and those who are opposing him – pulled a pretty desperate looking stunt. That is the kind of stuff the UN and WB don’t like much…
RickeyT says():all we can do is let it play out, This is Iraq, LOL,
RickeyT says():not one of us expected to still be here, this was supposed ot be over years ago
tman23 says():No worries as John Kerry will be in Baghdad tomorrow and so will The KRG delegation includes Deputy PM Qubad Talabani, Former Iraqi Deputy PM Rozh Nuri Shaways and Fuad Hussein , Chief of Staff of the Kurdistan Region Presidency……….along with PM Abadi………..
Shaways is the biggest connection to the British business investment……….Kurds have tons of support for independence and the USA backing now if Abadi does not follow the constitution and Kurds 20%…………
OF course….the Kurds were to settle their internal political issues by March and yet they have not held a Parliment session and had begun reorganizing with pay and ministers in the name of reforms……..
What is most interesting is both KRG and Baghdad are operating on what could almost be viewed as skeleton government or caretaker per se’ at this point…..
watson1 says to BGG():do think now with the stunt again from mr maliki will stall the reform for the bad crooks to steal more and even try to take back GOI??
BGG says to watson1():I highly doubt it.
wmawhite says):Folks,….if either of you signed an agrreement with the IMF that mapped out exactly what you and the IMF were going to do during 2016 in regards with the CBI and the other Iraqi fnancial institutions, do you believe that on any particular day that you can decide to do something that is detrimental to Iraq WITHOUT first consulting the IMF? I do not think so.
Folks, the actions of the CBI is in concert with the IMF and WB. Many of you see these articles and go “oh no!!!” I see these articles and believe that the IMF and WB is smarter than me and I also understand that all of these actions were discussed previously and they are no surprise to them.
Mudder says():Having a country brreak apart isn’t good for anybody involved… So IMO the US supprting the Kurds independence is BS… The US would be the biggest looser in all of this….
Mudder says():Countries don’t come in with a ton of investment money to a country falling apart….
larrykn says to Mudder():I don’t believe they are like Mr. White is saying this has been planned out well in advance
BGG says to watson1():if you note how Iraq social media sees their politicians – maybe sooner than later… (note the tweets and BLOG posts from last nite.
tman23 says to Mudder():The Kurds will hold a referrendum for independence……….They will participate in the federal government..(keep a vote in your adversarries camp)……
But they are going to keep the door open as who to say the next PM won’t go rogue…….. It is what it is……. None of them trust each other and it will take generations for that to graudally change…….if ever !
_firefly_ says():Is al – Shahristani or Maliki still a part of the GOI?
watson1 says to BGG():i really do not know who you are but i been following you for over a year . either you are future teller or have dam good intel cause you are always 1 to 4 month out with the correct info before anyone else:S(y)
_firefly_ says():Nobody knows? lol
watson1 says to BGG():how do peg this so soon when everone else is say something diffent and in the long you are correct and they jump on your band wagon?
clay01 says():”Nobody knows the troubles I’ve got, nobody knows my sorrows,”
BGG says to watson1():Team effort here – not just me… stay tuned, our peeps work hard at gathering real news and monitoring real events.
BGG says to watson1():we all appreciate you saying so though 🙂
larrykn says to clay01():whats the matter spunky 😀
clay01 says():just made me think of that song,lol
tman23 says to Mudder():Funny how Shahristani became a bad guy ………LOL !! ……. If wasn’t for him……Maliki would have had the party with the votes……… Most of the news coming out is bing bada bang………point fingers, and deflect…….it is who you don’t see that is the BAD GUY………..
watson1 says to BGG():ok sir with all this happen how much longer can not do reform weeks months no dates just weeks or months
watson1 says to BGG():is it maliki need to remove all together .
watson1 says to BGG():by the way are you feeling dancing yet
larrykn says to watson1():IMF stated this will happen within the first half of 2016 🙂
_firefly_ says():Twilight News / said former Deputy Prime Minister Bahaa al-Araji, the oil licensing rounds with foreign companies where corruption files.
He said during a press conference in Baghdad on Monday that Prime Minister Haider al-Abadi was duped people that it does not cost per barrel more than two dollars while it cost $ 20.
He accused the head of the Oil and Energy Committee of Ministers and former oil minister Hussein al-Shahristani, in charge of licensing rounds, causing wasting money for Iraq by about $ 13 billion annually.
Araji said he filed a lawsuit against the corruption of the oil licensing rounds for decades. He said that “there are those who wonder why al-Araji did not stir that case when he was chairman of the Parliamentary Integrity?”.
He explained, “Agip I actually worked at the time to move those issues when I was a deputy prime minister, but those issues did not reach the results and I did not work on the follow-up but I Satafrg her now and I will work on the follow-up to detect thieves of public money.”
Al-Abadi called for the formation of a supreme committee to open large files of corruption related to oil contracts and the Arab summit, weapons and electricity, trade in the previous government.
clay01 says to watson1():We are in the process of the reforms as we speak, not a overnight event
_firefly_ says():former oil minister Hussein al-Shahristani,
_firefly_ says():This is recent article folks
_firefly_ says():So … if neither Hussein al-Shahristani or Maliki is a part of the GOI what do we care what they are saying besides trying their best to cause trouble !!!!!!!!
tman23 says to _firefly_():Rabbit holes……….. who was the last oil minister before Mahdi………Do you know his name without google…. I brought this to point about 2 years ago……..
_firefly_ says():Sheesh lol
clay01 says to larrykn():Do you remember that song
larrykn says to clay01():no I’m not old enough 😀
_firefly_ says to tman23():LOT’s of rabbit holes !
clay01 says to larrykn():(y):D or too old to remember, lol
BGG says to watson1():Shahristani, Maliki – and Baha Araji (wasn’t he just brought up on MAJOR corruption charges??) … all bad actors… with NO CURRENT SAY.
larrykn says to clay01():({):D
clay01 says to larrykn()::)(lol):D
_firefly_ says to tman23():On the tip of my tongue. Just woke up. Can’t remember his name
tman23 says to _firefly_():Yea………the wizard behind the curtain…….the orchestrator……… Abdul Karim Luaibi……..He was appointed deputy minister of oil in charge with the upstream operations in 2009, and was in office until 2010.[3]
During his tenure, he was instrumental in securing the oil and gas contracts with international oil companies and other oil-related agreements with neighboring countries of Iraq………
In December 2010, he was appointed oil minister, replacing Hussain Al Shahristani, to the cabinet headed by prime minister Nouri Maliki……..
In March 2016, an investigate report published on the Huffington Post revealed that Luaibi was part of a major corruption ring in the Iraqi oil industry.
The report noted that Luaibi played a role in securing oil contracts for foreign oil companies in exchange for bribes……. Recall all the Maliki threats to Exxon and Chevron back in 2010/2011……..
_firefly_ says to tman23():Thanks bud, his name slipped me completely but I remember that incident !
tman23 says to _firefly_():Funny how everyone knows all the names or most of them……….BUT this guy remained out of the media and major news…….yet ……….He acted as the president of OPEC’s 162th ordinary meeting which was held in Vienna on 12 December 2012……….AND was the HEAD of IRAQS BIGGEST ASSET………
_firefly_ says():Remember though, there will always be characters that try to undermine the Government. This is nothing new globally. Happens in the US every day ………. 😀
tman23 says():Agree…….either play along and cooperate or end up with an office next to the dumpster……..open your mouth and you disappear……… Personally I would play along since 99% are in on the game……….In Iraq, good guys didn’t get to finish last…….they either died or fled with their families……..
_firefly_ says to tman23():That was right after the Shabibi debacle !
_firefly_ says():BRB, need java refill 🙂
_firefly_ says():Obama’s envoy to Jaafari: Large international meetings soon to provide more aid to Iraq
_firefly_ says():2016/4/7 14:08 Search head of the Iraqi National Alliance, Foreign Minister Ibrahim al-Jaafari, with the special envoy of US President Barack Obama for Iraq Brett Makourk overall security developments, political, and international support for Iraq in its war against Daash terrorist gangs.
A statement by his press office received by all of Iraq [where] that “al-Jaafari met in his office in Baghdad envoy of US President Barack Obama to Iraq, and his accompanying delegation, the two sides reviewed the overall security developments, political, and international support for Iraq in its war against terrorist Daash bands, File reforms which witnessed in the political process.
_firefly_ says():File reforms which witnessed in the political process.
_firefly_ says():He said al-Jaafari that Iraq will exceed the current crisis, and goes on the road to reform, and overcome the lingering political process errors, and achieve the aspirations of the citizens, adding that consultations between the political parties will enhance trust, cooperation, and mobilize national efforts to face the challenges,
noting that “Iraq is making great victories in war against terrorists Daash the efforts of the heroes of his sons, and the support of the international coalition, calling for increasing the international community’s support for the Iraqi people in the current circumstances, raise the level of assistance. ”
For his part, Brett Makourk envoy of US President Barack Obama to Iraq confirmed the statement said his country continued to support the Iraqi government, and to support efforts in the war effort against terrorist Daash gangs, and the implementation of government reforms,
pointing out that the coming period will witness international meetings to invest more to provide more aid to Iraq , praising the role of the Iraqi national Alliance, and al-Jaafari’s efforts in maintaining national unity and overcome the differences, and intersections taking place in the political process.
_firefly_ says():Everyone wants a peice of the pie now lol
_firefly_ says():Interesting
_firefly_ says():Urgent parliamentary economy: budget next year Stakhlu deductions from salaries will include Advances to staff
_firefly_ says():It suggested the economic and investment commission in Parliament, on Thursday, the absence of the 2017 budget cuts to salaries and the allocation of financial Advances to staff, while suggesting a program to support low-income owners to raise the standard of living of citizens.
A member of the committee MP Abdul Salam al-Maliki’s (Journal News), that “there is a serious endeavor by the parliament and the government that the 2017 budget will be different from the budgets that preceded the development and support of projects and maximizing the revenue side.”
He added that “after the improvement in oil prices and increased crude oil production to more than 4 million barrels per day, the government will resort in the budget in 2017 to raise the proportion of deductions imposed on salaries and allocate financial Advances to staff, plus it will put a development program to support low-income earners through the granting of loans facilitators to raise the standard of living of citizens.
The 2016 budget, which voted on by the House of Representatives earlier this year at $ 95 billion, which included a deduction of 3% of employees’ salaries to support the popular crowd. / End / 4 /
_firefly_ says():the 2017 budget will be different from the budgets that preceded the development and support of projects and maximizing the revenue side.”
_firefly_ says():Ya think? lol
_firefly_ says():Hmmmm …. Brent closed last night at $39.84.
allinxpress says():(y)
_firefly_ says():Interesting
da58 says to tman23():I cant remember, but didn’t kerry give that speech maybe yesterday, with the 3 sort of ultimatums.. of keeping abadi in, passing tecki govt, and reforms.. and consequences if not? I need to go back and read I think.. that made me think he was there already..
tman23 says():Kerry did say that US would support an independent Kurdistan if Baghdad failed to live up to the constitution and the Kurds percentage …….
_firefly_ says():Iraq to set oil price at $32 in 2016 budget BAGHDAD, 0 hours, 44 minutes ago
_firefly_ says():Iraq plans to lower the oil price forecast in its 2016 budget to about $32 a barrel from $45, widening its fiscal deficit by several billion dollars, the International Monetary Fund (IMF) and a senior government official told Reuters.
The new price estimate is based on the continued low level of global oil prices in recent months, said Marwa al-Nasaa, Amman-based IMF resident representative for Iraq.
“We’re setting it closer to $30 based on the climate of international futures prices since November,” she told Reuters on Thursday.
The adjustment is expected to add about $6 billion to the OPEC producer’s budget deficit unless offsetting measures are taken, said the Iraqi official, who requested anonymity to speak about ongoing government deliberations.
Iraq’s current budget, which projects oil exports of 3.6 million barrels per day, predicts a deficit of 24 trillion Iraqi dinars ($20.56 billion).
_firefly_ says():”We’re setting it closer to $30 based on the climate of international futures prices since November,” she told Reuters on Thursday.
Baxter says():its about TIME
_firefly_ says():The drop in oil prices over the past two years has battered Baghdad’s finances as it wages a battle against Islamic State militants in the north and west and confronts a political crisis that threatens to bring down the government.
Iraq, which relies on oil for more than 90 percent of its revenue and sells at a discount to global benchmark crudes, earned an average of $24 a barrel in the first two months of the year and $28 in March, the Iraqi official said late on Wednesday. “We have to rebuild the budget taking this into consideration.”
The revised budget, which has not been finalised, is part of Iraq’s negotiations for a standby agreement (SBA) with the IMF, the official added. The SBA financing could be approved as early as June, unlocking $15 billion in international assistance over the next three years.
“If an SBA is reached, part of that financing gap will be met by IMF and other donor financing, but it will not close the entire gap,” Nasaa said.
“A number of measures are going to have to come from the government itself to increase revenues and bring expenditure in line with the new revenue reality. It has to be a combination of both.”
The Iraqi official declined to specify what measures Baghdad would take to reduce the deficit, but said: “It is a must, otherwise we will have to borrow more and more.” – Reuters
_firefly_ says():The revised budget, which has not been finalised, is part of Iraq’s negotiations for a standby agreement (SBA) with the IMF, the official added.
_firefly_ says():The SBA financing could be approved as early as June
_firefly_ says():The SBA financing could be approved as early as June
tman23 says():Good Bank decided to cancel the paragraph concerning the fulfilment of Commission 1% owners of smart card ports approved by the Board of Directors in an earlier resolution.
He said Chairman and Managing Director Mohamed Abdel Wahab in a statement received that “the Board decided to raise daily withdrawals for holders of ports to 400 million Iraqi dinars and not more than 8 draws daily, adding that” these actions come in order to provide the best banking services to beneficiaries.
He denied as discussed in an earlier news media that the Commission imposed on retirees from the Cardmember to card saying he had nothing of that card holder so deductible.
_firefly_ says():Interesting timing according to the IMF statement of Iraq joining the Global Markets by the 1st half of 2016 !!!!!!!!!
Baxter says():Looks like we will be waiting till the end… just like always.. Oh well…… 84 more days till July 1
_firefly_ says():https://www.imf.org/external/np/pp/eng/2006/052606.pdf
_firefly_ says to larrykn():So what does this tell you?
larrykn says to _firefly_():I believe we are right on track
_firefly_ says to larrykn():Read the PDF again 🙂
TUJ says to _firefly_(): GM I certainly like the very first statement in the pdf 1. The Fund’s legal framework provides the basis to actively promote the liberalization of member countries’ current accounts. The Articles of Agreement set out legal obligations which effectively promote the free convertibility of members’ currencies for payments and transfers for current international transactions.
TUJ says to _firefly_():What more is there to really say lol
_firefly_ says to larrykn(11:26 AM):3 Article XIV for over 40 years. In addition, some members impose exchange restrictions or multiple currency practices (MCPs) without Fund approval. A concerted staff effort is needed to press for the removal of unapproved exchange restrictions and MCP’s and to ensure that new changes to members’ exchange control regimes are consistent with Article VIII obligations and macroeconomic considerations.
Moreover, growing demand for technical assistance in the foreign exchange area provides opportunities for expanding the Fund’s involvement in streamlining members’ exchange control regimes. There is also significant scope to improve the compilation of information on members’ exchange systems and to further the understanding of the economic implications of existing exchange restrictions and MCPs.
6. This paper reports on the work undertaken in this area since the 1992 review and seeks to encourage further progress incurrent account liberalization among the membership.
Section II providesan overview of the legal framework; Section III studies recent trends in members’ acceptance of Article VIII obligations, and analyzes the factors underlying these trends; Section IV outlines the possible economic (and financial) benefits of current account liberalization for Fund members; finally, Section V lays out the implications for surveillance, the enforcement of compliance with Article VIII obligations and technical assistance.
II. LEGAL FRAMEWORK
7. A key purpose of the Fund is to “assist in the establishment of a multilateral system of payments in respect of current transactions between members and in the
_firefly_ says to larrykn():services, interest, and income) and a few items that, from an economic perspective, are capital in nature (e.g., payments of moderate amount for amortization of loans or for depreciation of direct investments).
_firefly_ says to larrykn():(e.g., payments of moderate amount for amortization of loans or for depreciation of direct investments).
_firefly_ says():Article VIII baby !
larrykn says():yes it is isn’t it
_firefly_ says():This PDF file from the IMF explains article VIII obligations
larrykn says():we know they are about to get all these loans from the imf and wb, now why would the IMF or wb loan money if they didn’t know for sure they could pay it back , mmmm
larrykn says():the IMF LOI shows the way, this article shows the obligations
_firefly_ says():Understanding that PDF file should make you folks jump up and down … especially how it ties in with current events
larrykn says to _firefly_():I’ve been jumping up and down for a week now 😀
_firefly_ says to larrykn():(y)(y)(y)
_firefly_ says to larrykn():Why is the loans starting in June ????????
larrykn says():Folks if this don’t get you going you better check your pulse lol
Martha Sue says to _firefly_():thank you … I’ve opened it and will come back and read. LOVE THE EXCITEMENT IN YOUR WORDS this morning. Praying we are there!!! NOW!!! Thank you for all you do!
_firefly_ says to Martha Sue():VW hon 🙂
Martha Sue says to larrykn():hey buddy … gotta go to another office … sooooooooo scream really loud if Firefly finds the RV and Article VIII DONE!!! WAHOOOOZERS! :D:D:D
larrykn says to Martha Sue():well do 🙂
_firefly_ says to Martha Sue():The IMF stated Iraq will enter the global markets by the 1st half of 2016 !!!!!
_firefly_ says to Martha Sue():And the loans begin in june?
Martha Sue says to _firefly_():so before June??????????? … how about April … that’s in the 1st half. I vote for this month!
_firefly_ says to Martha Sue():I don’t do dates but I’m VERY excited by FACTS !!!!!
Martha Sue says to _firefly_():How about if we all take a vote? That might do us as much good as our vote for President here!
Martha Sue says to _firefly_():I see you are very excited … FOR THAT … I’M EXCITED TOOOOOOOOOOO!
woodguy says():CAn’t be much more factural!
woodguy says():BINGO BUDDY!
woodguy says():and what do they need to be article vIII compliant?
Martha Sue says to _firefly_():Like Hutch said yesterday … a bank is a place that will loan you money if you can afford to pay it back (WHEN YOU DON’T NEED IT) … soooooo that said …
TODAY prior to Iraq being in a position to pay back billions of loan money … they are preparing to loan them money. DUH … that makes total sense that they KNOW that a change is coming and that the ability to repay the loan will be there! COME ON RV!
puffdragon says():My thoughts are for the IMF and WB to say the loans to start as early as june, they see a change in the ability for Iraq to repay the loans, hence our dreams will be a reality JMO !
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