WELCOME TO DINARUPDATES.COM FOR MILLIONDAY NEWSTIME
Millionday: WE HAVE NEWS TONIGHT
Millionday: WE HAVE A LOT
Millionday: HOLD YOUR HATS
Millionday: THIS WAS THE ORDER THAT WAS GIVEN TO IRAQ FROM THE IMF AND THEN I WILL SHOW YOU THE RESULTS THAT HAVE RESULTED IN CHANGE FOR IRAQ`S POSITION NOW
Millionday: THE CHANGE OCCURRED IN JANUARY OF THIS YEAR — A LITTLE OVER A WEEK AGO BY MEETING THE ORDERS GIVEN HERE
Millionday: “The Iraqi authorities are committed to addressing the fiscal pressures caused by the dual shocks related to oil prices and the ISIS attack.
They have reached a staff-level agreement with the mission on an SMP starting at the end of 2015. Under the SMP, the authorities will implement a fiscal consolidation that will contain public expenditure in line with available revenue and financing, and aim to reduce the non-oil primary deficit by 4 percent of non-oil GDP between 2014 and 2016.
Millionday: NOTE — THEY ARE ORDERED TO RESOLVE THE LACK OF FUNDS TO OPERATE AND MOVE FORWARD OBVIOUSLY
Millionday: Under the SMP, agreement has also been reached on measures to strengthen public financial management, anti-money laundering and countering the financing of terrorism (AML/CFT), and financial sector stability.’
“The SMP will be submitted to IMF management for its consideration by the beginning of next year. It will allow the Iraqi authorities to build a track record for a possible Fund financing arrangement.
Millionday: NOTE — THIS IS REFERRING TO THIS YEAR AS THE TIMELINE THEY HAD TO GET DONE
Millionday: “During the mission the team met with Minister of Finance Hoshyar Zebari, Acting Governor of the Central Bank of Iraq (CBI) Ali Allaq and officials from the ministries of finance, planning, oil, the CBI, the Board of Supreme Audit and representatives from state-owned banks. ‘
The team would like to thank the Iraqi authorities for their cooperation and the open and productive discussions.
Millionday: NOTE — THE AUDIT WAS COMPLETED AND HERE IS THE RESULTS SENT TO THE IMF ALREADY AND THE RESULTS
Millionday: The Managing Director of the International Monetary Fund (IMF) approved a Staff-Monitored Program (SMP) 1for Iraq covering the period of November 2015-December, 2016, on which the authorities and staff had reached ad-referendum agreement in November 2015
Millionday: NOTE — IRAQ HAS MOVED TO THE MONITORING PROGRAM
Millionday: FOR THIS YEAR
Millionday: Iraq is facing a double shock arising from ISIS attacks and the sharp drop in global oil prices. The conflict is hurting the non-oil economy through destruction of infrastructure and assets, disruptions in trade, and deterioration of investor confidence.
The impact of the oil price decline—already felt in 2014—intensified in 2015, affecting the budget, the external sector, and medium-term growth potential. The authorities are responding to the crisis with a mix of fiscal adjustment and financing.
Millionday: NOTE — ADJUSTING AS ORDERED
Millionday: To help address the present and urgent balance of payments and budget needs triggered by the ISIS attacks and the collapse in oil prices, the authorities have also requested an SMP to establish a track record of policy credibility to pave the way to a possible Fund financing arrangement.
Under the SMP, the authorities will implement fiscal consolidation that will contain public expenditure in line with available revenue and financing, and aim to reduce the non-oil primary deficit by US$20 billion or 12 percent of non-oil GDP between 2013 and 2016.
Millionday: NOTE — WE READ ABOUT THE ORDER SPOKEN OF HERE
Millionday: Under the SMP, agreement has also been reached on measures to strengthen public financial management, anti-money laundering and countering the financing of terrorism (AML/CFT), and financial sector stability.
Millionday: The IMF has assisted Iraq in strengthening economic institutions and in providing advice to the government on economic policies and reforms for more than a decade. IMF staff will work closely with the authorities to monitor progress in the implementation of their economic program.
In addition, the IMF will continue to provide technical assistance to support Iraq’s capacity-building efforts and its reform program.
Millionday: DONT MISS THE BEST PART >>>>>> IMF staff will work closely with the authorities to monitor progress in the implementation of their economic program.
Millionday: SO THIS JUST HAPPENED AND IS VERY VERY INTERESTING WITH THE ANNOUNCEMENT MADE BY THE IMF CONCERNING THE EMERGING COUNTRIES AND ALSO THE ACCEPTANCE OF THE IMF AND ALSO OF COURSE THE STATEMENT MADE ABOUT THE WORK DONE AND THE RESULTS OF >>>>>>>>>>>
IMF staff will work closely with the authorities to monitor progress in the implementation of their economic program.
Millionday: SO IMO — IRAQ IS NOW IN THE POSITION TO IMPLEMENT THE ECONOMIC PROGRAM AS WE CAN CLEARLY SEE HERE
rcookie: ARE YOU SAYING THIS PROGRAM IS DIFFERENT THAN IMF LETTER OF INTENT…MEMORANDUM ECONOMIC & FINANCIAL POLICY AND TECHNICAL MOU
Millionday: IS IT? I DIDN’T SAY IT WAS DIFFERENT OR COMPARE IT AT ALL — THIS WAS JUST RELEASED — I THINK YOU ARE TALKING ABOUT THE BEGINNING AND THE REPORT THEY MADE ABOUT THE INTENTIONS AND WORK THEY WERE DOING IN IRAQ
Millionday: THE PROGRAM HAS GONE ON FOR YEARS AS THEY WORKED ON IRAQ — THAT WAS THE MOU — THAT NO LONGER IS NEEDED MEANING THE WORK ON THE PROGRAM — THEY ARE NOW UNDER MONITORING FOR ONE YEAR
Millionday: MAKE SENSE ?
rcookie: THE IMF AUDIT & OVERSIGHT PANEL IS THERE TO OVERSEE THEIR COMPLIANCE TO END OF 2016 NO…
Millionday: THE IMF STAFF WILL WORK CLOSELY WITH THE AUTHORITIES TO MONITOR PROGRESS IN IRAQ`S>>>>>>>>>>>>IMPLEMENTATION OF THE ECONOMIC PROGRAM — THEY ARE READY TO IMPLEMENT ACCORDING TO THE IMF LAST WEEK
Tiger: implementation to the economic reform program is the hinge that swings the door open, so we are at the door about to be swung open
Millionday: I HAVE TO SAY THAT THE PLACE WE WANT THEM TO BE AT IN THE IMPLEMENTATION AS THAT IS WHAT THEY WANT TO GO TO A MARKET ECONOMY ——– WHOOOPOW
Millionday: THE ECONOMIC REFORM INCLUDES ALL ECONOMICS — BANKS — MONETARY — FUNDING — MARKET — ETC
Millionday: TIGER — SMILE
bellfire: Who are the emerging nations? With the IMF
Millionday: I DON’T HAVE THEM IN FRONT OF ME —
Millionday: I WILL DO SOME RESEARCH AND GET YOU A LIST HUN
maine: the key word here is implementation which is far different than intent to do something; actively starting a project, going forward in an active motion
bellfire: Vietnam is of them I hope
Millionday: THEY HAVE A MAJOR GOV CHANGE GOING ON RIGHT NOW — TIME WISE I WOULD SAY IT WILL BE A LITTLE WHILE BELLFIRE
maine: i would hope so too bellfire
Millionday: MAINE — EXACTLY
cjquade54: this implementation of monitoring has started? if so, as of when did it start?
Millionday: IMF Managing Director Approves a Staff-Monitored Program for IraqPress Release No. 16/04
January 12, 2016
cjquade54: so it’s been approved but started?
Millionday: YES IT HAS ALREADY STARTED
cjquade54: great news … ty
Pablo: I just got here. Do we know anything more about this cabinet shuffle?
Millionday: THIS IS JUST MONITORING — THEY HAVE BEEN GIVEN THE REIGNS — THIS IS HANDS OFF AND JUST MONITORING —
NOT DOING ANYTHING BUT MONITORING — THE HELP TO GET TO THIS POINT HAS BEEN GOING ON FOR YEARS AND NOW THEY HAVE FORMALLY ANNOUNCED THAT IRAQ IS READY TO IMPLEMENT AND THE IMF WILL MONITOR
Millionday: NOT THE SAME THING BY ANY MEANS THAT HAS BEEN GOING ON — THIS IS HUGE
Millionday: UNDERSTAND — MANY WILL TRY TO TWIST THIS — THEY ARE NOT CORRECT — THIS IS JUST MONITORING AND IS FANTASTIC NEWS — IRAQ IS THEIR OWN COUNTRY AND CBI IS INDEPENDENT
Millionday: PABLO — ABADI IS CHANGING SOME OF THE POSITIONS AND IT IS NOT SUPPOSED TO IMPACT THE INCOME BUT IS SUPPOSED TO CHANGE THEIR JOBS
thomas1: WELL IT BEEN A GREAT WEEK FOR NEWS WITH RCOOKIE AND MILLIONDAY WHOOPOW . I THINK IT MILLER TIME LOL
Millionday: THOMAS I AGREE
Millionday: WISH I HAD ONE LOL
Risk: This fits in beautifully with IMF statement “They anticipate Iraq re-entering global market mid 2016”
Millionday: I WOULD RATHER IT SAY THE BEGINNING OF 2016 SMILE
Millionday: FITS MUCH MORE BEAUTIFULLY TO ME LOL
Millionday: Osama Mehmoud, the global stock representative in Iraq stressed about the importance of integrative laws and economic action of law making. He also pointed out that linking the Iraqi dinar currency to the global economy has its own importance.
The Iraqi currency should achieve its value against the global currencies. It would allow in providing more power to the economic process in the country.
Millionday: NOTE — LINKING THE DINAR IN THE MARKET WILL ADD VALUE DUE TO IT ACTUALLY BEING ON THE MARKET ALONG WITH ALL OTHER ADVANCES TO THE MARKET ECONOMY
Millionday: He further added in his press interview that current economic condition in Iraq needs more care. He pointed out that most of the laws related to the Iraqi economy are still need to get regulations for the economic management in the economic sector, according to the formula. The process in trade and economy are following an open economy as it is called market economy.
Millionday: NOTE — THE REGULATIONS FOR A MARKET ECONOMY NEED TO BE LAUNCHED AND OF COURSE USED TO BRING THE CURRENCY AND TRADE TO THE GLOBAL MARKET
Millionday: He further added that it would improve the economic management that would produce an uncertain economy.
There are many industrialized nations depending on the open market that implemented the processes of production and the theory of import and export. The commercial exchange process between a numbers of companies should adopt a unified economic system.
Millionday: NOTE — IN THE GLOBAL TRADE MARKET — THE COUNTRIES TAKING PART OF THE TRADE AGREEMENTS OR IMPORT/EXPORT ETC SHOULD ALL BE ON THE SAME PLAYING FIELD — INTERNATIONAL EQUATION FOR FAIR TRADE
Millionday: He gave an example of Iraqi economic reality that is continuously depending on letters of guarantee issued to the traders to manage the operations of import of goods. It is showing the limitations to the Iraqi verbal disapproval within the banks.
It is also stopping to spread the Iraqi dinar currency into the international markets. As a result, the Iraqi dinar value decreased and unable to trade outside the Iraq. He stressed that importance of presenting the Iraqi dinar currency in the global currency markets
Millionday: SO HE STRESSED THE RESULT OF SUCCESS WOULD BE THE DINAR ENTERING THE GLOBE — IT NEEDS TO TRADE AND IRAQ NEEDS TO TRADE OUTSIDE OF IRAQ
Millionday: WHOOOPOW BRING IT ON
Millionday: THIS IS ABOUT THE HUGE ECONOMIC CONFERENCE FOR TODAY AND TO LAST A COUPLE DAYS
Millionday: Announced for the economic and investment commission member of the parliamentary proof Mamouri, on Wednesday, the start of the initial preparations for the holding of private international investment conference the port of Faw in Basra province.
Said Mamouri in a statement received / scales News / copy of it, that “the committee embarked months ago to address the relevant authorities in order to speed up the completion of this vital project by investing the way, after we found the inability to provide the necessary funding to him through the budget, which have been adversely affected, down Iraq’s imports allocations that rely on oil as a main source of funding. ”
Millionday: NOTE — THIS IS NOT ABOUT THE SAME CONFERENCE THIS IS ANOTHER ONE — SORRY
Millionday: The statement added, “The prime minister and the Ministry of Transportation approved the transfer of the project by investing, where a committee was formed of all relevant actors include representatives from the economic and investment commission in Parliament and the Council of Ministers and the Ministry of Transport and representatives of the province of Basra and maritime transport, which will begin its meetings soon for the purpose of preparation for an international conference will be held a large investment in Basra called him international companies specialized in this type of project. ”
Millionday: NOTE — THIS IS THE GROUPING OF BUSINESS MEN AND CORPORATIONS THAT ARE INVESTING TO THE OPEN FOR BUSINESS IRAQ – IT IS AT THE PORT OF FAW AND IS EXPECTED VERY SOON
Millionday: He pointed out that “the Commission will examine the possibility of allocating part of the project over the stock system, any direct shares are offered for subscription in the Iraq Stock Exchange here and we will let the citizen to contribute to the project, one of the best types of investment that will return profits to shareholders is good.”
However, that “what is important is the completion of the project, which will be imports no less important for oil imports, not to mention that it will provide jobs for large numbers of young people and operate related sectors.”
Millionday: SO THEY ARE MOVING TOWARD THE ABILITY OF STAKEHOLDERS TO HAVE A GREAT RETURN — NOW THAT IS GOOD NEWS — OBVIOUSLY THE COMPLETION OF THIS PROJECT IS IMPORTANT TO EVERYONE
cowboydownsouth: WHOOOPOW MD BRING IT ON
Millionday: WHOOPOW I AGREE — LETS SEE IT SMILE
Millionday: Union of businessmen in Dhi Qar province, announced the formation of a joint committee to create for the establishment of an economic development conference in the province.
The These moves came amid experts and specialists invitations to activate the investment law and create a banking system in line with the work invested in the provinces companies, what new productive capacities check the economic viability that are beneficial to the citizen adds.
Millionday: NOTE — WE ARE STARTING TO SEE EITHER A PATTERN OR ALOT OF CONFUSION — SMILE
Millionday: The contract Businessmen Union in the province in cooperation with the local government recently several joint meetings to discuss the economic crisis experienced by the province or the country and find a serious processors to finance projects and other construction of new, according to what reported by the Chairman Ahmed Abdul Wahid Bunyan Union «morning».
Millionday: NOTE — UNDERSTAND THIS ABOUT THE INVESTMENTS WITHIN PROVINCES — THAT TAKES PLACE ONLY AFTER THE BUDGET IS DISTRIBUTED
SO AS WE CAN SEE — THE PLANNING HAS BEGUN AND SO HAS THE MANY CONFERENCES ETC WE SHOULD BE SEEING — THIS IS GREAT
Millionday: He Bunyan that those meetings resulted in the formation of a joint committee of the Union and the Chamber of Commerce, and the provincial council, and the Federation of Contractors, and a number of relevant departments to create to hold an expanded economic conference to agree on a finding important issues to deal with economic problems Solutions and get out of the crisis.
Millionday: NOTE — SOME AREAS HAVE MORE MANUFACTURING — SOME MORE OIL — SOME INDUSTRY — ETC ETC — ALL OF COURSE NEED REBUILD (INFRASTRUCTURE)
Millionday: In a move to support and finance the stalled projects in Dhi Qar and other provinces province, the governor Yahia Nasseri called on the central government to take extraordinary measures to deal with red tape and administrative obstacles that hinder the work of investors.
Millionday: He said the Nazarene that «Dhi Qar administration hoped would address the investment of the current economic problems and be supportive to the economy of the province is blessed with the stability of a security is good, and that makes up funding shortfalls faced by the country as a result of the financial crisis caused by falling oil prices.
As called for activating the new rate investment law and create a modern banking system, said the investment sector’s ability to support the country’s economy when providing climate appropriate action for investors.
Millionday: NOTE — OBVIOUSLY THE PROVINCES AND ALL THE INVESTMENTS WITHIN WILL BE A POSITIVE FOR THE NATIONAL ECONOMY AS WELL FOR A FEW REASONS –
A COUPLE ARE THE TAXES — THE DRAW OF INVESTORS — THE POSSIBLE EXPANSION FROM INVESTORS INTO OTHER AREAS AND REVENUES OF TAXATION
Millionday: Nazareth saw that investment activity calls for the provision of basic requirements, including finding a modern banking system in line with the work of the investment companies and the movement of global capital, also requires the activation of the new investment law in order to facilitate the work of investors and overcome the administrative routine through the actions and decisions of the extraordinary governmental,
alluding At the same time that keep pace with global system for investment requires the use of experts, specialists and academics in the management of capital and activating the movement in the investment sector to be able to contribute in the face of the current financial crisis.
Millionday: NOTE — OBVIOUSLY THEY NEED FUNDING AND ALSO THE MARKET ECONOMY THE CONSTITUTION GIVES THE IRAQIS —
Millionday: For his part, economist harmful Alspahi that usually the investor looking for business environment has the lowest potential risk for his project, and whenever deepened administrative practices and good in the country has increased the intensity of investment as a feature of the economic benefits.
Millionday: NOTE — OBVIOUSLY EASE OF INVESTING IS ATTRACTIVE DUE TO THE SIZE OF THE GLOBE — THEY NEED TO STAND AHEAD OF THE REST
Millionday: As Alspahi urged the importance of a means of good governance in investment in Baghdad and the provinces, especially the vocabulary stresses the guarantee of rights and the application of agreements and contracts strictly and regularity and ease of implementation of matters relating to the investigation the largest share of justice in the dispute, returned blockbuster discreet companies to hire or invest in Iraq is still weak and not the level of ambition.
Millionday: NOTE — WITHOUT THE LEAP — IRAQ DOES NOT SEEM AS ATTRACTIVE AS IT COULD RIGHT NOW — THEY HAVE TO MOVE FORWARD IS WHAT HE IS SAYING
Millionday: According to the special investment global indicators, he pointed Alspahi to it (investment) President factor in many countries, as it adds new productive capacities to productive assets in the community through the creation of new or expansion of the list of projects, projects, or replacement or renovation projects ended its useful life,
they also contribute to the reconstruction of a lot of infrastructure projects in the countries of the world, what has been achieved economic viability that are beneficial to members of the community.
Millionday: NOTE — AFTER COUNTRIES GO THROUGH WAR — THE REBUILD BRINGS FUNDS AND INVESTORS ACCORDING TO HISTORY AND LOGIC
Millionday: and finds Observers The investment at the level of the national economy respect of capital expenditure on new projects in the sectors of public utilities and infrastructure such as incision main and branch roads projects and extensions of water and sanitation and to create urban plans and construction projects,
housing and extensions of electricity and power generation projects, as well as social development in the areas of education, health and communication projects, as well as projects related to economic activity for the production of goods and services in the productive and service sectors such as industry, agriculture, housing, health, education and tourism.
Millionday: SO AS WE HAVE BEEN SAYING FOR YEARS — THE OPPORTUNITY IN IRAQ IS HUGE FOR INVESTORS AND ALSO EMPLOYMENT ETC
Millionday: Preparing the ministries of oil and industry agreement with the company «Shell» oil the world to implement the project «beacon» petrochemical in the province of Basra, which is the largest in the Middle East, as it is expected to achieve annual profits exceed one billion dollars, and provides more than 50 thousand jobs After the work done.
Millionday: NOTE — THEY ARE PREPARING TO BEGIN FINALLY THE CONTRACTED SHELL AGREEMENT
Millionday: The official spokesman for the Oil Ministry, Assem Jihad, said in an exclusive statement »Sabah», the ministry support for plans to develop the oil industry and increase production, which will reflect positively on gas production, therefore, requires the establishment of projects for the petrochemical order to optimize the investment of oil and gas wealth in Iraq.
Millionday: NOTE — THEY ARE DIVERSIFYING THE OIL MARKET AS WELL
Millionday: As a result of the drop in oil prices in global markets and rents the Iraqi economy, Jihad pointed out that the Ministry of Oil permanent quest for the development of this vital sector in the country through investment in the petrochemical industry, which resulted in several agreements, project support, the most important project «beacon».
Millionday: NOTE — THIS IS AN ANNOUNCEMENT TO THE CITIZENS FOR THE MORNING
Millionday: He explained the official spokesman said « was signed with Shell to establish a petrochemical plant and its accessories dubbed Project (beacon), which is scheduled to be held in the province of Basra », he returned him of important projects that have been agreed in collaboration with the Ministry of Industry and Minerals.
He said the project is in the planning and study by the company and needs to be nearly two years to complete its requirements and prepare for the next stages, and then will have to agree on direct and determine the period of time to implement the project in stages.
Millionday: NOTE — AS WE SEE THEY ARE PREPARING TO MOVE FORWARD WITH ALL INTERNATIONAL CONTRACTS WITH THE OIL FIELD
Millionday: The present trends amid the efforts of the ministry to maximize fiscal revenues through increased refinery production to compensate for interruptions Baiji refinery, which it meets more than half of Iraq’s need of oil derivatives, and add some production units for the development of production and improved, leading to the development of the oil industry in the country, according to Jihad.
Millionday: SO AS WE HAVE TALKED ABOUT FOR YEARS — THE REFINERIES IN OTHER COUNTRIES ARE VERY OLD OR AT LEAST VERY OUTDATED WHEN COMPARED TO IRAQ`S NEW AND ADVANCED REFINERIES –
WE CAN EXPECT REGIONAL AND INTERNATIONAL CONTRACTS WITH IRAQ IN THIS MARKET AS WELL AS WE SEE HERE
Millionday: READ EVERY WORD OF THIS
Millionday: IT IS VERY VERY INTERESTING
Millionday: The conditions for implementing the International Monetary Fund’s (IMF) 14th General Quota Review, which delivers historic and far-reaching changes to the governance and permanent capital of the Fund, have now been satisfied
Millionday: DONT MISS A WORD >>>The amendment to the IMF’s Articles of Agreement creating an all-elected IMF’s Executive Board (Board Reform Amendment) entered into force yesterday.
The Board Reform Amendment was part of a broader package of quota and governance reforms, which also included a doubling of IMF quotas under the 14th General Review of Quotas and a major shift in quota shares toward dynamic emerging market and developing countries.
The quota increases under the 14th Review, which were conditional on the entry into force of the Board Reform Amendment, are expected to come into effect in the coming weeks.
Millionday: THINGS THAT MAKE YOU GO HMMMM
Millionday: DONT YOU FIND THAT VERY INTERESTING? WHOOOPOW
hstrymknwmn: woopow!!!! X3
msdiva: very very interesting whoop whoop pow
Millionday: I AGREE
Millionday: I LIKEY
Millionday: SO THIS IS COMPLETE AND WILL SHOW IN THE COMING WEEKS — VERY INTERESTING
Millionday: THE IMF QUOTAS WERE DOUBLED DUE TO > a major shift in quota shares toward dynamic emerging market and developing countries. The quota increases under the 14th Review, which were conditional on the entry into force of the Board Reform Amendment, are expected to come into effect in the coming weeks.
Millionday: THE IMF IS THE INTERNATIONAL MONETARY FUND >The International Monetary Fund (IMF) is an international organization … Countries contribute funds to a pool through a quota system from which countries experiencing balance of payments difficulties can borrow money
Millionday: THIS CHANGE OR DOUBLE IS DUE TO THE ENTRY OF EMERGING COUNTRIES
Millionday: UNDERSTAND THAT DUE TO SOME CHANGE OF EMERGING COUNTRIES — THE QUOTA HAS DOUBLED — THIS IS HISTORICAL
Millionday: VERY INTERESTING AND SHALL BE APPLIED IN WEEKS
Millionday: THIS CHANGE IS COMPLETE — FOR ONE THIS OF COURSE WILL IMPACT ALL ECONOMIES AND OTHER THAN THAT IT SHOWS THAT A HUGE IMPACT IS COMING FROM THE EMERGENCE OF A COUNTRY`S ABILITY TO PUT INTO THE FUND
Millionday: VERY INTERESTING AND VERY HISTORICAL — NOT COMMON BY ANY MEANS
Millionday: MAKE SENSE ?
jwjd: yes thanks so much..
Millionday: I AM GOING TO BRING THE FORMAL IMF DOCUMENT ON IRAQ
Millionday: THIS WILL HELP US UNDERSTAND SOME MORE THAN JUST A BLANKET STATEMENT
Millionday: HAVE A GREAT NIGHT
Millionday: NITE EVERYONE — CHECK OUT THE CALLS BGG HAS DONE
THE OBSERVER – http://dinarupdates.com/observer/
THE BLOG – Dinar Daily NEWS Blog – http://www.dinarupdates.com/blog/
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