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About dinareffic

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  1. dinareffic

    Adam Montana Weekly 20 June 2018

    Thanks Adam. Good stuff as always
  2. RealTormC and Militiaman "Iraq Has Been Inching Toward Chapter 8" RealtormC: Iraq has been inching towards Article VIII for years and the rate will end up being whatever it will be. You'll have to draw your own conclusions about your why questions. Iraq is under Article XIV Transitional Agreement with a transitional or program rate. Your question should be: what else do they need to do to be Article VIII compliant to show the true rate of the IQD? They are showing signs that they are compliant with Article VIII, but officially according to the IMF website they are still under article XIV. Article XIV: Transitional Arrangements 1. Notification to the Fund 2. Exchange restrictions 3. Action of the Fund relating to restrictions .... Section 1. Notification to the Fund Each member shall notify the Fund whether it intends to avail itself of the transitional arrangements in Section 2 of this Article, or whether it is prepared to accept the obligations of Article VIII, Sections 2, 3, and 4. A member availing itself of the transitional arrangements shall notify the Fund as soon thereafter as it is prepared to accept these obligations. Section 2. Exchange restrictions A member that has notified the Fund that it intends to avail itself of transitional arrangements under this provision may, notwithstanding the provisions of any other articles of this Agreement, maintain and adapt to changing circumstances the restrictions on payments and transfers for current international transactions that were in effect on the date on which it became a member. Members shall, however, have continuous regard in their foreign exchange policies to the purposes of the Fund, and, as soon as conditions permit, they shall take all possible measures to develop such commercial and financial arrangements with other members as will facilitate international payments and the promotion of a stable system of exchange rates. In particular, members shall withdraw restrictions maintained under this Section as soon as they are satisfied that they will be able, in the absence of such restrictions, to settle their balance of payments in a manner which will not unduly encumber their access to the general resources of the Fund. Section 3. Action of the Fund relating to restrictions The Fund shall make annual reports on the restrictions in force under Section 2 of this Article. Any member retaining any restrictions inconsistent with Article VIII, Sections 2, 3, or 4 shall consult the Fund annually as to their further retention. The Fund may, if it deems such action necessary in exceptional circumstances, make representations to any member that conditions are favorable for the withdrawal of any particular restriction, or for the general abandonment of restrictions, inconsistent with the provisions of any other articles of this Agreement. The member shall be given a suitable time to reply to such representations. If the Fund finds that the member persists in maintaining restrictions which are inconsistent with the purposes of the Fund, the member shall be subject to Article XXVI, Section 2(a). Article VIII: General Obligations of Members 1. Introduction 2. Avoidance of restrictions on current payments 3. Avoidance of discriminatory currency practices 4. Convertibility of foreign-held balances 5. Furnishing of information 6. Consultation between members regarding existing international agreements 7. Obligation to collaborate regarding policies on reserve assets Section 1. Introduction In addition to the obligations assumed under other articles of this Agreement, each member undertakes the obligations set out in this Article. Section 2. Avoidance of restrictions on current payments (a) Subject to the provisions of Article VII, Section 3(b) and Article XIV, Section 2, no member shall, without the approval of the Fund,impose restrictions on the making of payments and transfers for current international transactions. (b) Exchange contracts which involve the currency of any member and which are contrary to the exchange control regulations of that member maintained or imposed consistently with this Agreement shall be unenforceable in the territories of any member. In addition, members may, by mutual accord, cooperate in measures for the purpose of making the exchange control regulations of either member more effective, provided that such measures and regulations are consistent with this Agreement. Section 3. Avoidance of discriminatory currency practices No member shall engage in, or permit any of its fiscal agencies referred to in Article V, Section 1 to engage in, any discriminatory currency arrangements or multiple currency practices, whether within or outside margins under Article IV or prescribed by or under Schedule C, except as authorized under this Agreement or approved by the Fund. If such arrangements and practices are engaged in at the date when this Agreement enters into force, the member concerned shall consult with the Fund as to their progressive removal unless they are maintained or imposed under Article XIV, Section 2, in which case the provisions of Section 3 of that Article shall apply. Section 4. Convertibility of foreign-held balances (a) Each member shall buy balances of its currency held by another member if the latter, in requesting the purchase, represents: (i) that the balances to be bought have been recently acquired as a result of current transactions; or (ii) that their conversion is needed for making payments for current transactions. The buying member shall have the option to pay either in special drawing rights, subject to Article XIX, Section 4, or in the currency of the member making the request. (b) The obligation in (a) above shall not apply when: (i) the convertibility of the balances has been restricted consistently with Section 2 of this Article or Article VI, Section 3; (ii) the balances have accumulated as a result of transactions effected before the removal by a member of restrictions maintained or imposed under Article XIV, Section 2; (iii) the balances have been acquired contrary to the exchange regulations of the member which is asked to buy them; (iv) the currency of the member requesting the purchase has been declared scarce under Article VII, Section 3(a); or (v) the member requested to make the purchase is for any reason not entitled to buy currencies of other members from the Fund for its own currency. Section 5. Furnishing of information (a) The Fund may require members to furnish it with such information as it deems necessary for its activities, including, as the minimum necessary for the effective discharge of the Fund's duties, national data on the following matters: (i) official holdings at home and abroad of (1) gold, (2) foreign exchange; (ii) holdings at home and abroad by banking and financial agencies, other than official agencies, of (1) gold, (2) foreign exchange; (iii) production of gold; (iv) gold exports and imports according to countries of destination and origin; (v) total exports and imports of merchandise, in terms of local currency values, according to countries of destination and origin; (vi) international balance of payments, including (1) trade in goods and services, (2) gold transactions, (3) known capital transactions, and (4) other items; (vii) international investment position, i.e., investments within the territories of the member owned abroad and investments abroad owned by persons in its territories so far as it is possible to furnish this information; (viii) national income; (ix) price indices, i.e., indices of commodity prices in wholesale and retail markets and of export and import prices; (x) buying and selling rates for foreign currencies; (xi) exchange controls, i.e., a comprehensive statement of exchange controls in effect at the time of assuming membership in the Fund and details of subsequent changes as they occur; and (xii) where official clearing arrangements exist, details of amounts awaiting clearance in respect of commercial and financial transactions, and of the length of time during which such arrears have been outstanding. (b) In requesting information the Fund shall take into consideration the varying ability of members to furnish the data requested. Members shall be under no obligation to furnish information in such detail that the affairs of individuals or corporations are disclosed. Members undertake, however, to furnish the desired information in as detailed and accurate a manner as is practicable and, so far as possible, to avoid mere estimates. (c) The Fund may arrange to obtain further information by agreement with members. It shall act as a centre for the collection and exchange of information on monetary and financial problems, thus facilitating the preparation of studies designed to assist members in developing policies which further the purposes of the Fund. Section 6. Consultation between members regarding existing international agreements Where under this Agreement a member is authorized in the special or temporary circumstances specified in the Agreement to maintain or establish restrictions on exchange transactions, and there are other engagements between members entered into prior to this Agreement which conflict with the application of such restrictions, the parties to such engagements shall consult with one another with a view to making such mutually acceptable adjustments as may be necessary. The provisions of this Article shall be without prejudice to the operation of Article VII, Section 5. Section 7. Obligation to collaborate regarding policies on reserve assets Each member undertakes to collaborate with the Fund and with other members in order to ensure that the policies of the member with respect to reserve assets shall be consistent with the objectives of promoting better international surveillance of international liquidity and making the special drawing right the principal reserve asset in the international monetary system. ************** MilitiaMan: A conversion is on going before our eyes. This just didn't get started yesterday.. It has been an ongoing process for many years, however, as of recent we see movement of oil and a very large move a week later in the USD, on a Thursday, and is now imo suggesting that we are in fact in the final stage of completion of Iraq's acceptance of Article 8, the ending of the Program rate presently and artificially imposed on the country, thus, apples to oranges if one thinks of comparing the VND or others. imo ~ MM MilitiaMan: The UNSC released the final Sanction on the CBI.. That is the Currency of Iraq. That lifting was on 06/14/2018 after banks closed in Iraq. They do things for a purpose and when timing is at it's best. They "" (Think Central Banks) who are behind the large move up like we saw in the Dollar ($.02) is and was breathe taking for those that know how much money it takes to do such a move in the USD alone. ~ MM "Forex is the largest and most liquid market in the world. In 2010, it accounted for more than $3 trillion of daily trading." ~ Investopedia. MilitiaMan: What we just witnessed is telling me that what WS has mentioned to Frank imo is a conversion that we don't directly see, and or in the IMFs wording of "Convertibility of of foreign-held balances" They are now geared to be able to trade globally where by having the ability to convert currency for liquid value.. They are even rolling out a DINAR card for only the dinar!! That in itself falls in line with what Art 8 has in her terms. imo ~ MM What is convertibility. "Convertibility is the quality that allows money or other financial instruments to be converted into other liquid stores of value. Convertibility is an important factor in international trade, where instruments valued in different currencies must be exchanged." WiKipedia "The UNSC removed the Sanctions in Dec on the GOI and now they have removed them on the CBI. The Frozen Assets have been released. This Tanker of Oil left right after they unfroze the Assets! ~ Frank26 06/12/2018 CC MilitiaMan: I hope this sinks in for us all. Click that link above and look at the massive move in the USD. Keep in mind gold usually will get hammered if the dollar runs like that and it didn’t fall one bit that day. It doesn’t get much better than this time frame we are in imo. We see articles showing the massive Billboard in preparation to show the Citizens what the Government has to show them. ~MM MilitiaMan: What to expect? ~ MM “ It broadcasts the largest advertising campaigns for government and commercial projects and is watched by over one million viewers a day.” “ The description will be included in the Billboards and the Final Article IMO, if we are following proper procedure, then we should, imo, see a CBI statement of facts of the smaller notes!! And possibly also to be found on the MOJ website. Also, a second article will come. It will be released by a massive CBI statement via the media. The second article will be released in conjunction with the CBI facts via media, printed articles, radio and eventually by the Gazette imo, the RI rate will come out in between all of this. These steps I have laid out chronologically” ~ Frank26 MilitiaMan: Lets not forget the lesson we learned about the AMF / AAD and the IMF / SDR.. They are value related. Look at the notes that were posted and or look them up to get the real feel for ones self how real the IMF SDR 3x is.... Or equivalent to the AMFs / SDR.. I think you'll find the numbers fascinating and a very real possibility. Now keep in mind this is all unfolding before our eyes.. imo ~ MM (wink)
  3. The Government of Kurdistan adopts visa card and master card for salaries of employees June 16 2018 07:20 PM [rtl][rtl]The delegation of Kurdistan in Munich meets the delegations of Britain and Sweden[/rtl] [/rtl] Baghdad Post A source familiar with the Ministry of Finance in the Kurdistan region, on Saturday, the intention of the Government of the region to adopt Visa Cart and Master Card card salaries. "The government is planning to open bank accounts for its employees," the source said.
  4. US: Iraq will be a center of stability and prosperity of the region 12:57 - 14/06/2018 0 Information / Translation US Deputy Assistant Secretary of State for Near Eastern Affairs David Satterfield said on Thursday that Iraq would be the basis for stability and prosperity in the Middle East. "Iraq has the ability to be a center of stability and prosperity in the Middle East and we are optimistic about the future of the country," Suterveld told the Senate Armed Services Subcommittee. "US President Donald Trump has asked for 200 million dollars in aid to Iraq," he said, stressing that "the United States should not take full responsibility for financing stabilization efforts in the region." "Washington is happy to partner with the new Iraqi government to fight terrorism and strengthen the independence of the country," said Nicky Halley, a US envoy to the United Nations. Ending / 25 z
  5. They are likely to enter Abadi within the alliance of Sadr and Ameri soon 15:37 - 13/06/2018 0 Information / Special ... Al-Sadr alliance, which has the support of the leader of the Sadrist movement Moqtada al-Sadr, on Wednesday, entered the victory coalition led by current Prime Minister Haider Abadi within the alliance of Sadr and Amiri to form the largest bloc and go to form the next government. A member of the alliance of Sawson, Jawad al-Moussawi, said in a statement to the information that "the accession of the victory coalition within the Alliance and the opening will be very close," pointing out that "Surun reached great understandings with victory and will culminate in a major alliance and announce the formation of the largest bloc and the next government" . "There are significant understandings continue with the stream of wisdom, headed by Ammar al-Hakim and other blocs will end the formation of the largest bloc," likely "the completion of the coalition end of the month." The alliance, which has the support and support of the leader of the Sadrist movement, Moqtada al-Sadr, on Wednesday, that his alliance with the "conquest" comes within the framework of openness to everyone to form the largest bloc. The leader of the Sadrist movement, Mr. Moqtada al-Sadr announced, on Tuesday evening, the accession of the Fatah alliance to the tripartite alliance, which includes the wisdom, national and national.
  6. Jumaili discusses with the Ambassador of Australia the procedures for Iraq's accession to the WTO He met with Minister of Planning / Minister of Trade Agency , Salman Jumaili, Wednesday, Ambassador of Australia in Iraq Joan Lunds, to discuss measures Andham Iraq to the World Trade Organization. The ministry said in a statement received by the "Economy News" that "the meeting discussed ways of joint cooperation between the two countries as well as cooperation in a number of areas, offering trade, investment, agricultural, cultural and scientific relations." The transfer of the statement from Jumaili as saying that "Iraq has becomethe day represents a stability factor in the region , and therefore it is apromising investment environment that can attract a lot of companies and investors to take advantage of these opportunities." He pointed out that "bilateral relations between the two countries are developing steadily, because Australia is one of the important sources of wheat supply to Iraq and there are good prospects for strengthening these relations through increasing the volume of trade exchange and benefiting from the Australian capabilities in supporting the Iraqi government's efforts in reconstruction and upgrading the services provided For citizens and the development of agriculture ". He added that "Iraq is dealing with all countries on the basis of equality of relations within the network of interests governed by international law," calling "the Australian side to support Iraq in his bid to join the World Trade Organization," adding that the accession process is important in facilitating the movement of trade and goods within World Trade Agreement. From its part , expressed the the Ambassador of the Australian Lunds, expressed "willingness of its government to provide all kinds of support for Iraq , which is economically, geographically and politically weight important at the level of the region and the world," noting that it "will provide possible support for Iraq 's accession to the WTO."
  7. Rafidain explains the international MasterCard card version Release Date: 2018/6/13 10:01 [ltr] [Ayna-Baghdad] Al-Rafidain Bank announced that issuing the international MasterCard card includes employees, citizens and other segments of society. "The Bank's branches continue to issue electronic payment tools (MasterCard), which are used inside and outside Iraq and are acceptable in all ATMs connected to the network [Master Card International] in addition to, To points of sale. " The statement added that "advances and loans granted to employees through these cards as well as settling their salaries electronically."[/ltr]
  8. Pictures of burning ballot boxes Pictures of burning ballot boxes They look OK to me.
  9. URGENT Commission chief: fire charges all hardware acceleration of electronic verification results in Baghdad [/ltr] [ltr][rtl]Editorial Date: 2018/6/10 23:12[/rtl] • [rtl]794 times read[/rtl][/ltr] [ltr] [Ayna-Baghdad] Chairman of the Board of Commissioners of the Electoral Commission Maen al-Hitawi on the burning of all organs to accelerate the election results and electronic verification of the Office of elections in Baghdad Rusafa. "We received the news of the burning of the UNHCR warehouses in Baghdad's Rusafa Election Office from the security authorities at 3:00 pm today, and directly went to the fire shop accompanied by the Minister of the Interior and the President of the State of Iraq," al-Hitawi said in a statement. The Supreme Electoral Security Committee, the Baghdad Operations Commander, the Civil Defense Teams, the Criminal Evidence and the Criminal Investigation Department. " He added that "the fire that broke out in the warehouses of Rusafa and not extended to the ballot boxes and ballot papers was controlled. The fire included all the speeding machines and electronic verification devices of the Baghdad Election Office." He added that "the investigation is ongoing through the security services to uncover the circumstances of the incident "He said. He pointed out that "the fire does not affect the results of the elections because the [chittat] of the results we have backups in the National Office and the Office of the elections in Rusafa, in addition to ballot papers in the funds and this of the Commission's keenness on the voice of the Iraqi voter and the outcome of the electoral process." He added that "this democratic institution, which has worked since the regime change and so far is the only institution for the peaceful transfer of power in Iraq and provided many martyrs of its employees in order to maintain the democratic process in the country," stressing that "targeting the Commission from all quarters to discourage the performance of its democratic work under the law And the Constitution. " He called on all constitutional institutions in the country [the parliament, the government, the judiciary, the presidency and leaders of the political blocs] to "bear their historical responsibility in maintaining the outputs of the electoral process, in addition to protecting all staff of the Office and provincial offices and departments and sections of the National Office, including members."[/ltr]
  10. Smart Card adopts advanced payment systems in Iraq [/ltr] [ltr][rtl]Release date: 2018/6/10 11:33[/rtl] • [rtl]801 times read[/rtl][/ltr] [ltr] [Ayna-Baghdad] The smart card company in Iraq has confirmed the continuation of its organization's work by adopting the best global systems in the payment details. "The specialized teams in [Key Card] are working to follow the developments in the field of payments in various countries of the world and to work to adopt these developments locally," the company's media advisor, Ghazi al-Kanani, said in a statement. "The company is working on the transfer of advanced technology in this important joint, which carries great advantages to the domestic financial sector, and is working to change the form of financial transactions." Kanani pointed out that "a field of work the size of the Iraqi market desperately need to start where the world ended in this area, where it requires the reality of flexible and guaranteed transactions, and this is what the company provides." The smart card company provides services to a wide segment within the Iraqi market from various segments of the community.[/ltr]
  11. - Database Error - server down for about one hour as of now - Database Error A PHP Error was encountered Severity: Warning Message: mysqli::real_connect(): MySQL server has gone away Filename: mysqli/mysqli_driver.php Line Number: 135 Backtrace: File: /home/prod/www/application/controllers/Home.php Line: 7 Function: __construct File: /home/prod/www/index.php Line: 293 Function: require_once A PHP Error was encountered Severity: Warning Message: mysqli::real_connect(): Error while reading greeting packet. PID=27365 Filename: mysqli/mysqli_driver.php Line Number: 135 Backtrace: File: /home/prod/www/application/controllers/Home.php Line: 7 Function: __construct File: /home/prod/www/index.php Line: 293 Function: require_once A PHP Error was encountered Severity: Warning Message: mysqli::real_connect(): (HY000/2006): MySQL server has gone away Filename: mysqli/mysqli_driver.php Line Number: 135 Backtrace: File: /home/prod/www/application/controllers/Home.php Line: 7 Function: __construct File: /home/prod/www/index.php Line: 293 Function: require_once A Database Error Occurred Unable to connect to your database server using the provided settings. Filename: controllers/Home.php Line Number: 7
  12. [ltr]Deputy for / Mawazin News /: The Iraqi Trade Bank refrains from paying the dollar to customers with "Visa"[/ltr] [ltr]Economie[/ltr] Since 2018-06-04 at 14:26 (Baghdad time) [ltr][/ltr] [ltr]Baghdad - Mawazine News MP Mithal al-Alusi announced on Monday that the Iraqi Trade Bank (BBI) has stopped paying the dollar with its "Visa cards". Al-Alusi said in an interview with Al-Mawazin News that "the Iraqi Trade Bank refrains from paying customers' dollar bills from their Visa cards." "The reason for this is due to administrative failure and lack of respect for the contexts and citizens." It is noteworthy that the Visa cards were exposed last week to holidays in a number of countries[/ltr]
  13. The Governor of the Central Bank appreciates the efforts of participating banks to settle salaries The governor of the Central Bank, Ali Al-Alaq, praised the efforts of banks involved in the settlement of salaries, stressing the need to adopt the principle of professional competition in the delivery of offers and services. "We appreciate the efforts made to participate actively in the project of technical and organizational salaries," said Ali Al-Alaq, the governor of the Central Bank of Egypt, in a letter addressed to banks participating in the project to settle salaries. "We would like to emphasize the adoption of the principle of professional competition in the delivery of offers and services and retain the right of the employee to choose the appropriate bank," stressing the need to "take the necessary procedures to open the bank accounts associated with a bank card city, as stated by the Secretariat of the Council of Ministers No. 281 For the year 2017, "noting that" the Central Bank is ready to provide support and support required. " And participate in the project to settle salaries Rafidain banks and Rashid and Iraqi trade and industrial and Ashur International and international development and the Iraqi Islamic and Iraqi Ahli and Abu Dhabi Islamic and Baghdad and Byblos and the Middle East and the Lebanese dependence and the Gulf and the Islamic south and Jihan and Mosul. The project aims to promote the concept of financial inclusion and the spread of banking services to all segments of the community and provides services, including city cards and control of accounts via mobile phones and purchases through the Internet.
  14. To me this is the best news. Abadi and Sadr will bring this home. Yes, Sadr has always been anti-USA, but he has always been pro Iraqi people and getting oil profits to the people. With these two teaming up, I feel we will get Maliki in the ground and HCL/RV post haste. JMHO. Im liking these election results big time.

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