Wealthwatch Chat Room – News & Comments 5-15-16
chattels: Kurdistan – Iran invites Barzani amid apparent mediation role over Erbil-Baghdad strains
rocknrollbus: Mornin’…….C!!
chattels: ERBIL, Kurdistan Region – Iran has extended an official invitation to Kurdistan Region President Masoud Barzani, whose last visit was in 2011, following talks in Baghdad and Erbil by Iran’s intelligence minister. The invitation, reported in a statement by the Kurdistan Regional Government (KRG), also comes after an Iranian Consulate official in Erbil last week urged the Kurds to resolve all disagreements with Baghdad.
chattels: http://rudaw.net/english/kurdistan/15052016
rocknrollbus: So, what’s the skinny on this Amman meeting………I thought they already had a credit rating……..a B-??
chattels: ‹@rocknrollbus› The real ” rub ” seems to be budget issues.
chattels: met Parliament Speaker Salim al – Jubouri, Sunday, heads of political blocs in the Constitutional Hall to discuss the current situation experienced by the country and a mechanism to obtain the IMF loan. The MP for the Union of Forces triumph Jubouri told all of Iraq [where] that “Parliament Speaker Salim al – Jubouri, he met with the heads of blocs and the chairman and members of the Finance Committee in the Constitutional Hall in the House of Representatives for the purpose of the mechanism of reducing the budget study to get the IMF loan.”
rocknrollbus: I know the IMF was tiffed about giving them their next loan and the budget.
chattels: ” reducing the budget ” I take to mean closing the gap between revenue and expenditures.
chattels: ‹@rocknrollbus› I posted the following yesterday morning :
chattels: The importance of politics or government in Iraq relates to the ability of Iraq to repay debt / support their currency. There is little question as to the assets / wealth of Iraq / collateral, but can Iraq produce the asset ? Can Iraq get oil to the marketplace reliably.
Iraq’s ability to produce reliably is dependent upon it’s stability and security. The budget, political stability and security all impact upon production and the payment of debt / currency support.
Whether Iraq can make the necessary change(s) and assurances required by international finance ( IMF ) which is the subject of the meetings in Jordan may be critical for us. Iraq needs an acceptable international credit rating or standing to survive and thrive.
Finance is driven more by ability to repay reliably and timely than the existing collateral. The fate of our investment may depend upon it. IMO. Finance is more interested in performance than potential is my point. Iraq has great potential, but can it perform. Iraq must function better in order to reliably perform.
The IMF conditions precedent or attendant to a loan(s) are intended to improve upon function and performance by Iraq. The IQD, Iraqi script paper, is essentially a promise to pay. The script is in and of itself worthless without the ” full faith and credit ” of the Iraqi government.
rocknrollbus: They’re not going to get “anything” done until they reign in all of their corruption!!
chattels: ” Whether Iraq can make the necessary change(s) and assurances required by international finance ( IMF ) which is the subject of the meetings in Jordan may be critical for us.”
chattels: ” The IMF conditions precedent or attendant to a loan(s) are intended to improve upon function and performance by Iraq.”
chattels: ‹@rocknrollbus› Just my opinion of course.
rocknrollbus: And this new reform front? I’m sure that will throw another monkey wrench in the gears……
chattels: The budget is law which requires an act(s) of Parliament to change. Query – can the gridlock currently in Parliament be overcome to secure the IMF loan(s) ?
rocknrollbus: Calling for Jibouri’s resignation…..
chattels: http://www.alliraqnews.com/modules/news/article.php?storyid=38023
chattels: Looks like another committee being formed to address the parliamentary impasse.
chattels: ubouri and political blocs confirm the formation of a committee of powers to create to hold the parliament session
http://www.alliraqnews.com/modules/news/article.php?storyid=38040
chattels: A statement by the Presidency of the Council of Representatives received by all of Iraq [where] a copy of it given the state of the country of exceptional crises critical, is the security and financial conditions, etc., and the interest of the higher interests of the country and to ensure the achievement of full victory over the common enemy “Daash”
In order to overcome the current parliamentary crisis , the board of the presidency of the Council of Representatives with the heads of political blocs met on Sunday, in the presence of committees, defense and financial security and the economy has taken a number of recommendations. ”
rocknrollbus: Yezzir!! Staged up, waiting for my pecking order parking…….
chattels: ” ………….. given the state of the country of exceptional crises critical, is the security and financial conditions,…………….”
chattels: Finance Minister Hoshyar Zebari arrived on Saturday, the Jordanian capital , Amman , on top of a large government delegation that included the governor of the central bank and adviser Economic Prime Minister and senior ministries of oil and electricity, planning officials and BSA as well as public bodies for Customs, taxes and retirement, experts and the Ministry of Finance and the World Bank Central.
chattels: A statement by the Ministry of Finance, the Agency has received all of Iraq [where] a copy of it, said the visit “to resume negotiations with the International Monetary Fund to seal the Stand -By agreement , which will provide Iraq with financial support to enable it to overcome the financial crisis and reduce the gap in the budget so as to enhance economic system reform process and financial in the country. ”
rocknrollbus: ‹@chattels› It sounds like Catch 22!! They can’t get the laws passed because the corrupt know they’ll go to prison………..but, you need the laws to “send” them to prison t
chattels: ” …………….. provide Iraq with financial support to enable it to overcome the financial crisis and reduce the gap in the budget so as to enhance economic system reform process and financial in the country. ”
chattels: http://www.alliraqnews.com/modules/news/article.php?storyid=37953
rocknrollbus: ‹@chattels› Are they still in Amman?
rocknrollbus: n was held this morning with the IMF experts were reviewing the technical aspects of the agreement and the obligations opposite to both sides. ” the statement pointed out that” the negotiations will continue until Wednesday, and it is hoped that the termination of these arrangements during this period . ” .
The international Monetary Fund has told Iraq the need to edit the budget for fiscal 2016 bill to be reduced in order to hopefully disbursement of the loan over the next few days.
She called the presidency of the parliament blocs and parliamentary committees to attend an urgent meeting of the decision on Sunday to take legislative and legal necessary to ask the international Monetary measures that the “Treasury the government is unable to pay and benefits for the people without access to this loan salaries. ” alliraqnews
chattels: ‹@rocknrollbus› Yes, arrived yesterday and will be there through the 18th
rocknrollbus: Just saw that……
rocknrollbus: Anyone see the picture posted with Zebari, Shabbs, and Keywords?
rocknrollbus: Crap……duty calls……gotta get parked up. U’s guys have a good day, A!!!
chattels: Iraq is rated B- at S&P Global Ratings, six levels below investment grade. The yield on the country’s $2.7 billion Eurobonds due in 2028 has declined 33 basis points this year to 10.4 percent, according to data compiled by Bloomberg.
chattels: Allaq said he has seen “no signs” that the unrest could affect talks with the IMF.
http://wealthwatch.world/showthread.php?tid=4695&pid=14099#pid14099
chattels: http://www.bloomberg.com/news/articles/2016-05-15/iraq-sees-15-billion-in-aid-through-2017-as-imf-deal-looms
chattels: Sajad Jiyad @SajadJiyad 53m53 minutes ago Iraq Sees $15 Billion in Aid Through 2017 as IMF Deal Looms – Bloomberg
chattels: Parliamentary Finance: Budget unspecified staff salaries and the International Monetary Fund cuts stipulated pressure spending about 13 trillion dinars
chattels: ” the cuts requested by the international Fund for unspecified employees ‘ salaries, because the international Fund is required to reduce overall spending in the general budget of about 13 trillion dinars. ”
chattels: ” there are other doors in the general budget can be accessed for the required reduction is staff salaries. ”
chattels: ???????????
Doug_W: good Question
chattels: Is the speaker suggesting that the budget cuts can be accomplished without amendment of the budget / act of Parliament ?
chattels: ” there are other doors in the general budget can be accessed for the required reduction is staff salaries. ” !!!!!!!!!!!!
Doug_W: it surely is an interesting “study” over there “C”
chattels: $ 15 billion in ” cuts ” is a significant portion of the budget.
*SCZIN11: IT WOULD SEEM THE IMF KNOWS SOMETHING WE DONT KNOW…WHY WOULD THEY SUGGEST INVADING THE BUDGET FOR REVISION….
OR IS THAT ANOTHER TRANSLATION ISSUE…WE REALLY NEED TO SEE AN IMF RELEASE, WHICH WE MAY SEE AFTER THE MEETUNGS ARE OVER..JMHO
chattels: US Colonel Steve Warren , a spokesman for the international Alliance of the US – led against regulation: “We have seen the announcement of a state of emergency in Raqqa, whatever that means , ”
http://www.ninanews.com/News_Details.aspx?G1KKU%252fIEQm8j8aJKiB9KMg%253d%253d
*SCZIN11: GOOD MORNING
chattels: ‹@*SCZIN11› good morning
chattels: ‹@*SCZIN11› My sense is that the IMF is ” targeting ” the use of its loans by requiring the reduction in salaries.
chattels: But, as you say, there is much that we do not know.
*SCZIN11: ‹@chattels› AND HOW CAN IMF REQUIRE BUDGET REVISION, 5 MONTHS INTO THE FISCAL YEAR, KNOWING THE PROCESS NECESSARY FOR REVISION APPROVAL?
chattels: ” transparency ” is not a word applicable to Iraq.
chattels: ‹@*SCZIN11› Perhaps the ” other doors in the general budget ” allow for administrative actions without a vote in Parliament ?
*SCZIN11: WITH WHAT WE ARE LEAD TO BELIEVE ABOUT THE STATUS OF PARLIAMENT, WHERE WE ARE BEING TOLD IN THE LAS HOUR THEY ARE PUSHING FOR A RESUMPTION OF MEETINGS THIS WEEK, IT IS HARD TO IMAGINE WHO WOULD BE ENTERING THE “OTHER DOOR”
chattels: Not sure that I follow you
chattels: ” there are other doors in the general budget can be accessed for the required reduction is staff salaries. ”
chattels: Perhaps the ” other doors ” are ways that budget cuts can be accomplished without amendment of the budget / act of Parliament ?
*SCZIN11: ‹@chattels› I WAS JOKING…THEY DONT HAVE A FUNCTIONING PARLIAMENT AT THIS MOMENT, ACCORDING TO WHAT I READ
*SCZIN11: SO WHO WOULD GO THROUGH THE OPEN DOORS..IT WAS A JOKE
*SCZIN11: IT WAS ONE OF THOSE, GUESS YOU HAVE TO BE THERE MOMENTS, FOR ME LOL
chattels: ‹@*SCZIN11› Sorry to be so dense – sometimes I take myself too seriously 🙂
*SCZIN11: LOL
chattels: It is all likely a moot point according to the pundits in ” dinarland ” – “RV ” tomorrow as usual 🙂
Doug_W: 1IQD =1€
Doug_W: there is ur RV LOL
chattels: ‹@Doug_W› 🙂
Doug_W: 1 Euro equals 1.13 US Dollar
lonegunman: ‹@chattels› REALLY ! RV tomorrow woo hoo ! lol that’s everyday now for the last 8 yrs
chattels: ‹@lonegunman› I feel better, don’t you ? 🙂
lonegunman: ‹@chattels› ya LMAO LOL
*SCZIN11: HERE IS AN EXCERPT FROM THE MEETING TODAY WITH BLOC LEADERS
*SCZIN11: “The statement went on that “Iraq is passing through a critical juncture threatens the security and stability of all aspects of the joints of the country, it is necessary to initiate urgent everything that serves the interests of the people and accelerate the implementation of the desired reforms of the cabinet reshuffle and the sacking of corrupt and accountable.”
*SCZIN11: URGENT..EVERYTHING THAT SERVES THE INTERESTS OF THE PEOPLE….
*SCZIN11: SACKING IF THE CORRUPT AND ACCOUNTABLE
chattels: They can talk the talk for sure.
lonegunman: ‹@chattels› they are the masters of balderdash
chattels: Even the Iraqi populace is weary of the bovine scatology spewed by the political elite.
chattels: ‹@lonegunman› indeed
lonegunman: “If you can’t dazzle them with brilliance, baffle them with bullshit.”
chattels: ‹@lonegunman› of course political rhetoric without substance is not the singular province of Iraqi poilicians
lonegunman: W.C FIELDS
chattels: we have more than a few ourselves, eh ?
lonegunman: ‹@chattels› yep no shortage here !
Doug_W: :blink:
chattels: Sajad Jiyad SajadJiyad 2h2 hours ago Sajad Jiyad Retweeted Stephen Kalin With a hot summer coming up and memories of last year’s discontent Daesh is targeting electricity supplies
chattels: Latest #ISIS attack, on a gas plant north of #Baghdad, kills 11 & cuts supplies to 2 electricity stations af.reuters.com/article/en… …
http://af.reuters.com/article/energyOilNews/idAFL5N18C037
OOTW: TY SCZIN AND CHATTELS
OOTW: I’VE POSTED SEVERAL INTERESTING PRESS RELEASES IN THE FORUMS
OOTW: http://wealthwatch.world/showthread.php
[01:26:57 PM] Tootsie: Jubouri , a meeting with the heads of the blocks calls to accelerate a session of parliament this week Sunday 15 May 2016 14:53 Baghdad Announced Presidency of the Council of Representatives, Sunday, that the meeting of the parliament speaker Salim al-Jubouri, and the heads of political blocs called for early in the decade comprehensive session of parliament this week,
and the extension of the legislative term, and called upon the parliamentary committees to resume their daily work, confirmed that Iraq is passing through a critical juncture threatens the security and stability of all aspects of the joints of the country .
The presidency said in a statement received Alsumaria News, a copy of which was “given the state of the country of exceptional crises critical, it is the security and financial conditions, etc., and the interest of the higher interests of the country and to ensure the achievement of full victory over the common enemy Daash In order to overcome the current parliamentary crisis, met the Presidium parliament with the heads of political blocs on Sunday, in the presence of committees, defense and financial security and the economy. ” cont ~~ http://wealthwatch.world/showthread.php?tid=4699
OOTW: TY TOOTSIE!
Tootsie: Abadi office: the presence of agents of the meetings of the Council of Ministers is not for the purposes of voting and quorum Sunday 15 May 2016 19:38 Baghdad Attributed the Information Office of the Prime Minister Haider al-Abadi, Sunday, the presence of deputy ministers to the Cabinet sessions for “seeking the views” about the topics on the agenda, denying that for the purposes of the vote or quorum, while calling for the resumption of meetings of the parliament as soon as possible to complete the change Ministerial.
A spokesman for the books Saad al-Hadithi in a televised speech followed up Alsumaria News, “The rules of procedure of the Council of Ministers stipulated in Chapter II Article -5- secondly that the President of the Council invited sees presence of advisers or directors-general or any employee of the state of the domestication of opinions on topics displayed within the Council’s agenda, as the third paragraph of the same article stipulates that it is not for those who attend the meetings of the Board of the non-members the right to vote. ”
Sabri added that “On this basis, issued guidance in the Cabinet meeting a few months ago and was confirmed at the last meeting of the Council of Ministers to attend the agents to the sessions for the domestication of their views on the topics on the agenda for this purpose exclusively and not for the purposes of the vote or quorum.” CONT ~~ http://wealthwatch.world/showthread.php?tid=4700
OOTW: HIYA SORRY WATCHING A VIDEO ON THE BLOW UP AT THE DNC
Tootsie: ‹@OOTW› oh, don’t be sorry!! nope, ~
OOTW: TY HON…HOW ARE YOU?
Tootsie: ‹@OOTW› doing well, – and you? working your tukus off it appears. – According to “Dr. Clarke & a few” eom will be spectacular – yeh, sure hahaha.
OOTW: YES OF COURSE – SURE….”SPECTACULAR” UH UHHHHHH 😉
OOTW: I’M GOOD HON THERE’S A CHANCE I’LL BE FINISHED WITH THIS GIG FIRST WEEK OF JUNE
Tootsie: only if there is a comet crossing the sky that lights up the world – –
lonegunman: ‹@Tootsie› and then what ?? all dinarians can hop on ?? lol
OOTW: LOL
OOTW: LONE LOL
lonegunman: ‹@OOTW› couldnt resist !! lol
Tootsie: I am not so sure re: June being the end ~ from the IMF “stressed that Iraq will return to the market economy during the first half of next year.” ~~ in the article clear statement “noting that ‘the plan will begin in 2016 ” – from article “IMF: Iraq will return to the market in 2016 Oct 21, 2015 ”
That is what the financial team was sent to help. ~ so, I am looking that 2017 may be ? . Sadly the topic headline is what is run with and many base hopes on.
lonegunman: ‹@Tootsie› will !!!!! return first half of 2016 ! i remain hopefull
OOTW: YES, AND HOW MANY TIMES HAVE WE SEEN “THE PROJECT CANNOT BE IMPLEMENTED AT THIS TIME DUE TO THE UNSTABLE SECURITY CONDITIONS IN THE COUNTRY” –
THIS PHRASE IF PROMULGATED IN EVERY POSSIBLE ARTICLE AND PRESS RELEASE (INCL FROM THE IMF) , TIME AFTER TIME
OOTW: AND AGAIN, RECENTLY…UHHHHHGAAAINNNN
Tootsie: ‹@OOTW› very true ~ – I think I am trying to protect myself from getting excited, constitution can’t take it anymore hahaha
Tootsie: ‹@OOTW› I can commiserate with such. temp and humidity has increased greatly in my far NW Houston area over the years, knock down trees, pour more concrete, erect more fwys and monster buildings – all store the heat to disperse during night ~ oh well = c’mon legal tender authorization – pweezzzz
lonegunman: ‹@Tootsie› double pretty please!
