Rual12: instead of all this loan stuff why don’t they just RV? If they are not ready now or in a month or so I believe (IMO) they won’t be ready to RV for a long time.
Samson: loans are still needed for Iraq to rebuild and also Frank posted yesterday the loans are also not for the RV but for the money to support whatever rate they deem as the new reality rate for the Iraqi dinar. Its not so cut and dry where a country can just RV themselves into wealth and thats it you need money to back your currency and assets their is a process and steps to be taken and yes that requires loans and a lot of money with support from the IMF and world bank.
Lexi: I was thinking on the article on the last thread about the IMF. The article called its assessment if you will an END OF MISSION. Frank I remember those words back several cc’s ago you said they are calling it END OF MISSION. Thanks Frank and I like those words! Please God let it be just that and I pray in a timely manner
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Doodlebug: International Monetary Fund declares conceived after 12 days in Iraq and two Ijmlh
Twilight News / tote head of the IMF mission to Iraq Jooz Christian on Tuesday, the organization “Daash”, and continues to decline in crude oil prices, is responsible for the depletion of Iraq’s economic resources.
Jooz said after the conclusion of the IMF mission’s visit to Iraq after 12 days of talks (interesting symbolism here!! with the #12) with Iraqi officials, “The economic situation in Iraq has been traumatized as a result of armed conflict and oil, especially in the balance of payments and income from the general budget.”
And it made bilateral meetings between representatives of the Iraqi government and the Mission Fund, progress in reaching an understanding on economic and financial policies, which can be supported through financing “loan.” [more evidence that the loans are for GOOD in the monetary reform process]
The IMF mission will work in the coming period, according to its statement, to help Baghdad in the debt burden and measures to protect the poor, and the introduction of reforms in the public finances and improve the quality of public spending.
According to the International Monetary Fund, the rise in oil production it has resulted in areas controlled by the Iraqi government to reduce the decline in the local economy, but the gap in the balance of payments of up to 5.1% of the deficit in GDP.
Iraq relies budget by about 85% on oil revenues, prices of which have fallen about 70% since mid-2014, which is trading at a mix “Brent” the world below $ 40 a barrel currently.
This shrank real GDP in Iraq by 2.1% over the past year, due to the conflict with what is known as organized “Islamic State” terrorist outlawed in Russia, which led to the aggravation of deteriorating infrastructure and disrupt the movement of trade and declining investor confidence.
At the end of last year, in 2015, caused a decline in Iraqi financial revenues, a drop in the country’s foreign exchange reserves, worth $ 13 billion, to reach US $ 54 billion.
ARTICLE LINK
Naphtali: Encouraging article to what I am seeing and thinking. Thanks for sharing.
