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Morning News Comments 12/16/2015 Budget Passed and IMF in Charge !

The International Monetary Fund announces the final touches on the Iraqi economy monitoring program 

[tlm724] the International Monetary Fund announced that he put the finishing touches on a deal to monitor, evaluate and manage the Iraqi economy

[tlm724] thats it, thats the key to what we have been saying about the IMF having the con in Iraq !!

[tlm724] manage the Iraqi economy
[tlm724] MANAGE !!!

[jeepguy] oh yeah

[tlm724] and yesterday we saw the IMF was not pleased one lil bit about Iraq devalueing the dinar !!

[jeepguy] nor we

[tlm724] jeepguy right !

[therealbubbie] thats because Iraq is stupid !!

[tlm724] this is awesome news/confirmation that the IMF has this thingy

[tlm724] therealbubbie exactly Lagarde said she read your comments and thought it was time she took the reins

[therealbubbie] about time they listened to me !

[tlm724] therealbubbie yes !!!!!!!!!!!!! lol

[tlm724] thank you BondLady that was an important one for sure !

[tlm724] so we have the IMF in charge of the economy and a budget passed, pretty dayum good morning if ya ask me  Wink

House of Representatives vote on the federal budget for the financial year 2016

December 16 0.2015

Voice of the House of Representatives forty-fifth regular Minutes held, headed by Dr. Salim al-President of the Council and in the presence of 243 deputies on Wednesday, 12.16.2015 on the draft general budget of the Federal Republic of Iraq for fiscal year 2016.

At the outset of the meeting President al-Jubouri, he gave heartfelt sympathies on behalf of the House of Representatives of the Vice gun just for the death of his son, and vice just Mhodr of the death of his father, calling for Fiqidan mercy and forgiveness and their parents patience and fortitude.

In another matter, the Council voted on the names of the Committee of Experts for the selection of the UN High Commissioner for Human Rights and submitted by the members of the Commission on Human Rights.

Council ended the vote on the budget estimates for 2016 for each of the federal judiciary and the House of Representatives and the Supreme Commission for Human Rights.

Council completed after the vote on the draft general budget of the Federal Republic of Iraq for the fiscal year 2016 Act, and provided financial, legal, economic and investment committees.

The estimated value of the federal budget for the fiscal year revenue in 2016 the amount of 81 trillion and 700 billion and 803 138 000 dinars, depending on the calculation of the price of oil export rate at a price of $ 45 per barrel and the rate of export of 3.6 million barrels per day, including 250 000 barrels of crude oil quantities in the Kurdistan region and 300 thousand barrels through the Kirkuk province.

The budget has allocated an amount of 105 trillion and 895 billion and 22.619 million dinars for the expenditures for the fiscal year 2016, while the total deficit reached 24 trillion and 194 billion and 919 481 000 dinars.

Mr. Speaker and praised the role of the ladies and gentlemen of Representatives approving the budget in an extraordinary time and before the end of the year.

Mr. Jubouri that drew today saw the memorial service of the late MP Ahmad Chalabi, head of the Finance Committee earlier, praising the great role in the approval of last year’s budget.

Read ladies and gentlemen MPs Al-Fatihah memory of the spirit of the late deceased MP Ahmad Chalabi .

Then it decided to adjourn the meeting.

The information department
Iraqi Council of Representatives

From yesterday :

The International Monetary Fund does not support the reduction in the value of the Iraqi dinar

Parliamentary Finance replace the currency auction open letters of credit

He wrote in: December 16, 2015

Confirmed member of the Finance Committee MP Majda al-Tamimi, on Wednesday, the influential people are the beneficiaries of the auction and sale of hard currency reserves of the Central Bank, while suggesting to the need to replace the currency auction open letters of credit.

Said al-Tamimi, said that “supposed replace auction foreign currency to open letters of credit”, stressing the need that “the importer while on the import of goods to open an account and converted by the appropriations attributed the reason that this method is the most transparent, sending the money to import only”.

He added that the “hard currency by the central bank auction punctuated by a lot of corruption and falsification of documents sale,” noting, “There are investors providing false invoices”.

She said “the central bank reserves go to certain persons”, indicating that “influential people are the beneficiaries of the auction sale of hard currency.”  LINK