IMF agreement test for Iraq

[King Bean]

Davis....I'm all in. I have photoshop and I'm not afraid to use it. I onced posted a photo of a "surplus Navy submarine" in the middle of the Missouri River (Montana) that Fish, Wildlife wardens were going to use to catch fishing poachers. People bought it. Two years later were still calling my company to see when the sub was coming back so they could reserve tours. LOL. Missouri is usually 4-6 feet deep. Shabibi at Disneyland or with Prez O-blabba will be a piece of cake.

[Freedomwish]

23 hours ago, Shedagal said:

Just listened to some financial discussions where the term "qualified investor" and "certified investor" were explained.  A qualified investor is one with more than $1 million in assets (excluding home).  A certified investor is one with more than $5 million in assets.  The premise was that when you attain those levels, a whole new world opens up to you for astronomical return on investment.  I know VIPers are going to be offered many opportunities that Adam and his advisors have put together, but I wanted EVERYONE to get a grip on what is getting ready to happen.  Begin to envision being able to make decisions without having to think about being able to afford it.  We are getting ready to walk in an arena that many of us never thought possible.  Pray for wisdom; you will need it.

 

Seeing that Shabibi dude is back in the picture, you just gotta' feel that things are moving and heading in the right direction now despite all that challenges Iraq continues to face.  Keeping the faith indeed, whiskey drinks will be ready on hand to celebrate!! 

[blueskyline]

Looking at this picture further . The size and decoration of the room . Everyone seems huddled together shoulder to shoulder . Bland table cloths  thrown over the tables . It looks as if this meeting were rushed together with room just for the dignitaries involved.

[Tubbs]

Shabbs is there to light the fuse 

BM

Go RV      Go RI

[10 YEARS LATER]

12 hours ago, blueskyline said:

Looks like Shabibi and Saleh are the only ones wearing headphones   ?

No Doubt Shabs be listening to Pink Floyd's " Money " on the Head Set . . . Great to see Shabs back in the saddle.

Maybe, (he says with cautious optimism), they pull this this whole thing off in line with the IMF statement made late last year about Iraq entering the Global Market 1st half of 2016.

Go Shabs !

Edited May 15, 2016 by 10 YEARS LATER
Sentence structure

[yota691]

 

The task of talks between Iraq and the International Monetary Fund for a loan worth $ 16 billion

Posted By editor
Economy News. / Baghdad Began in the Jordanian capital Amman, preliminary talks between the Iraqi delegation senior government, and between the officials of the International Monetary Fund for Iraq in preparation for a loan of 16 Milirdolar, fill Aladzvi the general budget of the country, This was announced to journalists, a member of the Iraqi delegation, Almstcharalmala Prime Minister Mzarmohamd favor, explaining that the purpose of the meetings, which began yesterday, Tstmrasbuaa, get a loan worth 16 Milirdolar, delivers payments to Iraq in three years.   Noting that the discussions focused on the economic situation in Iraq in general, and nothing has been so far to identify the aspects of the loan payments for Aumbalg Exchange. The delegation is headed by Iraq's negotiator with the International Monetary Fund, Finance Minister Hochearzibara, while membership includes Mscharrias Minister for Financial Affairs Mzarmohamd Saleh, Governor of the Central Bank on the Keywords, and a number of officials in the ministries of oil, finance and planning, electricity and central bank.         m
Views 20   Date Added 15/05/2016 - 9:58   last updated 15/05/2016 - 13:25   No. Content 3480

[yota691]

Iraq Sees $15 Billion in Aid Through 2017 as IMF Deal Looms

Dana KhraicheMay 15, 2016 7:08 am ET

(Bloomberg) -- Iraq’s imminent loan accord with the International Monetary Fund may unlock at least $15 billion in aid this year and next, central bank chief Ali al-Allaq said, helping OPEC’s second-biggest producer repair finances battered by cheap oil and the war with Islamic State militants.

Allaq said in an interview in Beirut he expects Iraq to receive $10 billion in IMF and World Bank assistance. A further $5 billion pledge may come from the Group of Seven meeting in Tokyo this month, he said.

“They will discuss supporting Iraq, but that’s linked to how convinced they are of the commitments” the country is undertaking under the IMF accord, he said. “So in total, we will receive $15 billion, possibly more, in 2016 and 2017.”

IMF officials are holding talks with the government this week in Jordan over a stand-by loan deal. If successful, Iraq will be the first major oil producer in the Middle East to secure a loan accord with the Washington-based lender.

Oil producers from Venezuela to Riyadh have slashed spending to counter the plunge in crude prices. For Iraq, the challenge was compounded by a costly war against IS militants, who captured swathes of the country’s territories to set up a so-called Islamic caliphate.

Baghdad Protests

The country is also mired in political turmoil. Hundreds of protesters pulled down blast walls and forced their way into Baghdad’s Green Zone -- which houses embassies, the Iraqi parliament and government ministries -- on April 30 to demand more efforts to fight corruption and to protest what they regard as sectarianism in cabinet appointments.

Allaq said he has seen “no signs” that the unrest could affect talks with the IMF.

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.

©2016 Bloomberg L.P.

[wshflthnkn]

On 5/14/2016 at 9:24 AM, yota691 said:

 

if any of these guys are Shabs

It's the guy on the end right of frame next to Saleh

[Shedagal]

23 minutes ago, wshflthnkn said:

if any of these guys are Shabs

It's the guy on the end right of frame next to Saleh

If you look back on Yota's previous posts in this thread, you will see that he showed us where Shabs is in the picture.

[army03]

Get started

soon

looks good

loans

Gets most folks happy, but just RV ok.

[wildeman]

Thanks. Good news and wise wisdom.

[DWS112]

Parliamentary Finance: Budget approved under the supervision of the International Monetary and can not be reduced

[Wayne - special] 
parliamentary finance committee, said that the federal budget for the current year 2016 can not be lowered, indicating that the House of Representatives approved the budget in coordination with the International Monetary Fund after the offering.

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. 
He said the Commission 's decision Masood Haider told all of Iraq [where] that " the 2016 budget was law legislation which is installed by legislation in Parliament, and can not be reduced, where the budget to determine in coordination with the international Monetary Fund and World Bank, and against which expressed the Fund 's willingness to lend Iraq $ 5 billion, and now Iraq negotiate on that. " 
he added that" by reading the budget in a timely manner, has been delaying approval for a period of two weeks in order to negotiating with the international Monetary and have studied the bill and therefore confirmed that they are on the light will support Iraq. " 
He said Haider that" there are many things, including taxes and fees collection and encourage the private sector ,said the UN Secretary - General Ban Ki - moon during his speech in parliament, as well that the international Monetary conditions are clear and the Iraq stimulate the private sector and provide employment where jobs and reduce the pressure on the public sector, and the imposition of collection fees and find other sources of revenue for the state not to rely only on oil. " 
the presidency of the parliament blocs and parliamentary committees have called for an urgent meeting yesterday Sunday to take legislative and legal measures necessary to ask the international Monetary fact that the"government Treasury is unable to pay and benefits for the people without access to this loan salaries." 
arrived Finance Minister Hoshyar Zebari, on Saturday , to the Jordanian capital of Amman on the head of a large government delegation "to resume negotiations with the international Monetary Fund to seal the Stand -byagreement , 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 and financial system reform in the country. " 
the delegation included the Governor of the Central Bank and the chancellor economic Prime Minister and senior ministries of oil officials and electricity planning and BSA as well as public bodies for Customs, taxes and retirement, experts and the Ministry of Finance and the Central Bank. 
According to a statement of the ministry said , " The first session was held on Saturday morning with the IMF experts were reviewing the technical aspects of the agreement and the obligations opposite of the two sides, and that the negotiations will continue until Wednesday, and it is hoped that the termination of these arrangements during this period. "

[yota691]

Mon, 16 May 2016 08:26:22

 

Parliamentary Economy: No conditions of international criticism on Iraq loan

 

 

 

Committee of economy and investment representative confirmed that there are no pre-conditions of the International Monetary Fund to grant the loan for Iraq, but only an economic and guidance instructions to go to a yield of economy diversified economy.

Committee member Abdul-Karim al-Naqib told Sama Baghdad, said there are no specific terms by the International Monetary Fund to loan that Iraq intends to get it, but economic and guidance guidance to emerge from the current financial crisis, the trend of the yield economy to a diversified economy and the various sources of income, noting the fund waiting for Iraq's commitment in order to achieve sustainable development of the country.

He added that the International Fund will emphasize the reduction of government spending and increase the investment budget and diversify sources of national income of the country.

 

The central bank said in March that Iraq would soon meet with the IMF to obtain a long-term loan, noting that Iraq has the right to give assistance and convenience when going through a crisis.

Lucan and the bank's governor said on the Keywords, said that «Iraq is about to meet soon with the IMF and the World Bank and the countries of the seven industrial agreement for giving us a long-term loan of billions of dollars and soft interest».

He pointed out that «the central bank and the finance ministry forward a range of measures for these actors on that

[yota691]

Mon, 16 May 2016 07:04:11

Financial: We are committed to pay the salaries of employees and retirees on schedule

 

 

Undersecretary of the Ministry of Finance Fadel Prophet announced the ministry 's obligation to pay retirees and employees Bmeidha specific salaries.  MP for the coalition of state law nostalgic Qaddo confirmed that Dr. Salim al - Jubouri , and the leaders of the political blocs met, GS officials , Ministry of Finance, including the administrative agent of the ministry Fadel prophet to discuss the economic situation and the mechanism of exchange salaries of state employees, noting that the Prophet confirmed the ministry 's obligation to pay employees and retirees Bmeidha specific salaries, and that the crisis in the country will not affect the exchange rate mechanism .. He added that the meeting had discussed with the finance officials offinancial loan to Iraq of the international Monetary Fund, saying that the loan amounted to about six billion dollars in interest is not adjacent two percent
 

[yota691]

World Bank loans require financial control over Iraq and opponents they consider "a derogation of national sovereignty."

 

 

 

 

 

 

BAGHDAD / Economy News ...

 

I went back to the parliamentary Committee of Economy and Investment, on Monday, the demands of the International Monetary Fund of Iraq to agree to lend as "do not constitute conditions" but a vision to address the economic crisis being includes a reduction in spending and focus on productive sectors to enhance budgetary resources. The external borrowing, which imposes conditions most notably the "international financial control over Iraq" experts opposed, and its enemy, "detraction of national sovereignty", specialists stressed that "it is essential" to cope with the economic fallout. "

The Iraqi delegation, headed by Finance Minister Hoshyar Zebari, and the membership of the Prime Minister for Financial Affairs Advisor to the appearance of Mohammed Saleh, and the Governor of the Central Bank and the Agency on the Keywords, and a large group of specialists in the ministries of oil, finance, planning and electricity, as well as the central bank, is negotiating with the International Monetary Fund are currently, in Amman, Jordan, to get soft loans.

The Chairman of the Committee on Economy and Investment parliamentary Jawad al-Bolani, said that the IMF did not impose conditions on Iraq in return for lending, as some believe, but gave a vision to address the significant problems faced by the national economy as a result of its dependence on oil only, "noting that" the fund wants the government Iraqi reduce their spending and focus on productive sectors to enhance budgetary resources. "

Bolani added that "the Prime Minister Haider al-Abadi, said that state resources sufficient to cover the salaries only," returned "The solution is that government departments rely on imports, and to be a productive state, as well as edit taxes and activating the industrial and agricultural sectors."

And he approved the Chairman of the Committee to "the existence of points of mistakes taking advantage of the survival of Iraq under the financial and economic pressure, and that the budget did not achieve its goals of being political," adding that "the international economic institutions want to be an economic goal of Iraq's budget and that the pressure is on certain aspects to improve performance." .

For his part, economist Ahmed Rehn, said that the loans that Iraq sought to obtain it from the International Monetary Fund and major industrial countries is limited compared to the size of domestic spending, "pointing out that" the International Monetary Fund imposed by the custom requirements on countries that lend may not be consistent with Iraq's economic and financial situation. "

Rehn said that "Iraq should be planned on not to resort again to international financial institutions," but he also said, "Unfortunately, the government is determined to deal with those institutions since 2003, and so far, although they dictate its terms to the state that deal with it."

He declined an economist, "the imposition of any international financial control over Iraq," returned that "it constitutes a derogation of national sovereignty."

In turn, the economist said spokesman Anton, said that "Iraq's oil exports of three million barrels per day has been exceeded, and that there are expectations of an increase of the price of crude allowing salaries of state employees insurance."

Anton said that "the Iraqi government's obligations and deficits that nearly 16 percent of GDP, worsening economic hardships," and expressed regret that "the Iraqi government has not been able to transform the economy from the oil yield to the agricultural industry."

The economic expert on "Iraq's need for international loans," noting that it was "natural that puts the IMF conditions and watching any loans the country's economy, and that this does not constitute a violation of the rule, as some believe."

Anton pointed out that "the imposition of taxes and the application of the tariff law may believe resource plus oil," but he also said, "But the economic crisis remain valid in light of population growth and the requirements of infrastructure, which requires orientation to get soft loans from both the International Monetary Fund or the Islamic Bank development or from the inside. "

For his part, the head of the Iraqi Economists Association Abdul Hussein al-Yasiri, the IMF sets conditions on any country lends a guarantee of his money, "adding that those" conditions that balancing the country concerned should be transparent, and that the disposal of money on things are very necessary, and to be making financial taken by the Government of that country that are reasonable. "

Yasiri pointed out that "Iraq has begun to achieve those conditions," and expressed optimism that "Iraq overcome the current economic crisis as working to increase the production of wheat, a substance that believes in the economic situation and food."

Promised Prime Iraqis Economists Association, that "the conditions of the International Monetary Fund is not a dilemma, despite the arbitrariness sometimes, as long as Iraq was developing his economic policy," stressing that "the delegation of Iraq, which is negotiating the fund houses keen interest of the country significant economic expertise, and will not accept any arbitrary conditions." .

 It was the financial advisor to the Prime Minister and the appearance of Mohammed Saleh, announced on Saturday (14 May 2016), that Iraq sought to borrow $ 16 billion through the preliminary meetings with the International Monetary Fund.

Saleh was confirmed, in the (26th January 2016), that Iraq has agreed with the International Monetary Fund for long-term soft loans for the implementation of development projects, noting that the fund is among other conditions, the government expenses, and adjusted some of the procedures relating to economic policies, while counting the economist that the "most important" of those loans is to know the amounts that will be obtained during the year 2016.

It is said that Iraq declared in the (13th January 2016), the approval of the International Monetary Fund to finance the budget deficit through clouds of hard currency reserves, indicating that this means reducing those reserves from $ 59 billion the end of October 2015 the past, to 43 billion during the current year.

R

Views 21   Date Added 05/17/2016 - 11:03   Last updated 05/17/2016 - 12:46   No. Content 3518

[yota691]

Member of the parliamentary finance: The government is obliged to accept the conditions for negotiations with the IMF

 

Monday, May 16, 2016 21:42

 

 

 

 

 

 

Alsumaria News / Baghdad , said the parliamentary Finance Committee member Jabbar al - Abadi, on Monday, that the decline in oil prices produced a significant difference between the revenues of Iraq and expenses, and among the government "forced" to accept to negotiate with the conditions of the International Monetary Fund in order to borrow from it, he stressed that Iraq exceeded stage "harder" on employees ' salaries. Ebadi said in an interview on "quarter of an hour , " which aired "Sumerian" channel, " the oil price decline led to that there is a big difference between revenues and expenditures, so Iraq resorted to borrowing from the IMF," noting that "one of the conditions of the international Monetary Fund is a reduction in the budget up to 13 trillion dinars."       He said al - Abadi, that " the government now need to provide the necessary needs of salaries, etc., and at the same time there are harsh sometimes the conditions of the International Monetary Fund, which is not the conditions as they are measures." He explained that "what is happening is a negotiation for an attempt to alleviate these conditions to the extent that the government can do, "but he also said that" the government is forced to accept to negotiate with the international Monetary Fund terms. " and on the possibility of " affected the future , " the employees ' salaries, Abadi continued , saying," we have passed the most difficult stage, the government was able to provide the employees ' salaries when they sell barrels oil dollars at 20, and now , a barrel of oil above $ 40 is expected to exceed the hurdle of $ 50. " The office of Finance Minister Hoshyar Zebari announced on Saturday (14 May 2016), he said that an Iraqi delegation arrived in Jordan to meet with IMF experts discuss financial crisis taking place in the country with them, while clarified that the first meeting was held with the experts to conclude prepare the credit agreement.

[DWS112]

Iraq announces receiving a loan from the IMF $ 13 billion

14:29:47 05/17/2016|(Voice of Iraq) - Baghdad got Iraq, Tuesday, on loan from the IMF worth $ 13 billion with interest estimated at 1.5 percent.The state television said in a flash, "Iraq happened, today, a loan from the International Monetary Fund worth $ 13 billion and the usefulness of 1.5 percent. "He said the governor of the Iraqi Central Bank on the Keywords, in (January 2016 14) that the loans obtained by Iraq from the IMF and the World Bank from the right.it seeks Iraq recently to borrow from the international Monetary Fund to plug the shortfall in the its budget for the current year, which amounts to 25 trillion dinars, after the fall in oil prices to low levels amounted to less than $ 30 per barrel.

 

[Officiallytook]

...

[RAGARCIA62]

Still waiting.  Checking in to see what's up.  Let's get this rv started.

[tigergorzow]

4 hours ago, DWS112 said:

Iraq announces receiving a loan from the IMF $ 13 billion

14:29:47 05/17/2016|(Voice of Iraq) - Baghdad got Iraq, Tuesday, on loan from the IMF worth $ 13 billion with interest estimated at 1.5 percent.The state television said in a flash, "Iraq happened, today, a loan from the International Monetary Fund worth $ 13 billion and the usefulness of 1.5 percent. "He said the governor of the Iraqi Central Bank on the Keywords, in (January 2016 14) that the loans obtained by Iraq from the IMF and the World Bank from the right.it seeks Iraq recently to borrow from the international Monetary Fund to plug the shortfall in the its budget for the current year, which amounts to 25 trillion dinars, after the fall in oil prices to low levels amounted to less than $ 30 per barrel.

 

DWS112 Thanks,  DV, The IMF surely got what they wanted or the loan would not have been released to the GOI / CBI IMHO.   We will see what else happens in the next few days ahead in regards to Parliament meeting to vote on remaining technocrats and pass some very important laws.  GO "HCL"

 

GO RV!!!!!

[Candy01]

1 hour ago, tigergorzow said:

DWS112 Thanks,  DV, The IMF surely got what they wanted or the loan would not have been released to the GOI / CBI IMHO.   We will see what else happens in the next few days ahead in regards to Parliament meeting to vote on remaining technocrats and pass some very important laws.  GO "HCL"

 

GO RV!!!!!

PRAYING very, very HARD tiger!!

[yota691]

Loan for Iraq worth $ 13 billion

 

 

5/18/2016 0:00  Baghdad morning  Iraq announced on Tuesday, receiving a loan from the International Monetary Fund worth $ 13 billion. Quoted «Iraqiya» news story that said: «Iraq got a loan from the International Monetary Fund worth $ 13 billion and an interest rate of 1.5 percent».  The governor of the central bank on the Keywords, has made it clear earlier that the loans obtained by Iraq from IMF and the World Bank from the right.  the negotiation Iraq recently to borrow from the international Monetary Fund to plug the shortfall in the budget for the current year , which is 25 trillion dinars, after the fall in oil prices to low levels amounted to less than $ 30 per barrel.

[yota691]

Applicable: the International Monetary Fund agreed to lend Iraq $ 6 billion in an interest rate of 1.5

History of edits:: 18/5/2016 11:40 • 57 visits readable

{Baghdad: Euphrates News} head of the parliamentary Finance Committee announced a mass citizen Faleh applicable, on Wednesday, for the approval of the International Monetary Fund to lend Iraq $ 6 billion in an interest rate of 1.5.

He said in effect, told {Euphrates News} Today, that " the International Monetary Fund agreed to lend Iraq $ 6 billion in interest - bearing 1.5". 
The International Monetary Fund announced Tuesday to lend Baghdad $ 13 billion to meet the financial need as a result of the decline in the country 's revenue from sold crude oil in markets Alaalmih.anthy

[DIAMOND]

Terms of that loan would make interesting reading!!!

[yota691]

IMF agrees to lend to Iraq (13) billion dollars to meet the financial need (details)

18-05-2016 11:05 AM    

Hits: 1293

 

Orbit News -

 

 

The IMF approved, to lend Iraq $ 13 billion to meet the financial needs, just days after an Iraqi team led by Finance Minister, Hoshyar Zebari talks in Jordan with representatives from the International Monetary Fund. 

He received Iraq - according to what reported by TV Alsm- on loan international Monetary Fund worth $ 13 billion in an interest rate of 1.5%. 

, said Finance Committee member Jabbar Abdul Khaliq in a press statement that ' the international Monetary Fund agree to lend Iraq $ 13 billion that came after the confirmation of the ability of Iraqi financial institutions to fulfill their obligations. " 

he added, that "Iraq desperately needs the loan as a result of the low sale price of oil on world markets, and increase the rate of expenditures because of the war on the organization Daash '. 

the member of the Finance Committee that the ' Finance Committee will host the Iraqi team , who led the negotiations with the international Monetary Fund in the Jordanian capital, for Details of the conditions the fund set out in exchange for lending to Iraq that amount. " 

the impact of the decline in oil prices in global markets since June 2014, largely on the Iraqi economy , which relies on oil to finance more than 90% of state spending, as well as the prohibitive costs of the war against al Daash .