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IMF agreement test for Iraq


yota691
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Kurds will receive more than $ 3 billion from the international loan in exchange for their return to parliament

 18/05/2016 13:46

 

 Number of Views: 882

 

BAGHDAD / tomorrow Press: MP predicted for mass independent, Samira al - Moussawi, on Wednesday, the return of Kurds to resume their duties in the Council of Ministers and the House of Representatives, having secured 17% of the loan obtained by Iraq from the International Monetary Fund, according to her.

 

Musawi said in a press release, "Tomorrow Press" received a copy of it, that "the Kurds, they refuse to return to Baghdad, but after hearing the approval of the World Bank to lend to Baghdad sawed private matter and that the proportion of the region it will be three dollars and a half billion dollars."

"The Iraqi huge amounts of money are not protected, and are vulnerable to theft by weak people, how we can protect the loan money and put it in the right place?".

She Musawi, "the government may be forced to agree to the World Bank conditions for obtaining the loan, but they must be honest with all the people the reality of these conditions, and if we refused to do without the loan and Nnaql at the gates of the budget disbursement until the improved economic situation of Iraq."

She explained that "the international loan requires reducing the budget, but the question is where you reduce the budget and in any sector, you cut staff salaries or covered by a network of social protection or the popular crowd security and military spending?".

She noted that "the House of Representatives is who will bear responsibility to the Iraqi people if they contributed to the completion of the agreement on the loan, so we want to declare the pros and cons of the loan to the public and through the media."

The International Monetary Fund agreed on Sunday to give Iraq a loan of 13 billion dollars with an interest rate of 1.5%.

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Yota Thanks,  DV, This is excellent news and I do believe the "HCL" is part of the package of laws that the GOI & The Kurds are working as well IMHO.   We will see some serious actions but please understand a lot is going on behind the scene as well I'm certain of it.

 

Keeping the faith!!

 

GO RV!!

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24 minutes ago, GregHi said:

Enough to pay our 18T dollar debt.. Hmmm

I have never been one for conspiracy theories (although I know corruption and manipulations abound), but I wonder sometimes if our present administration is pressing Abadi et al to stall the RV until just before the election to promote a Democrat Party win.  If that were the case, I am believing for it to be of no effect and that Iraq RVs in spite of the pressure.  By the way, if you haven't watched the video Markinsa posted on the Donald Trump prophecy video (in the Political thread), I would highly recommend you do.

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IMF loan employed in productive sectors

 

 

   
 

 
 

5/19/2016 0:00 

 BAGHDAD - Al- Sabah 

 received a loan of the International Monetary Fund for Iraq and $ 13 billion in interest to economists, especially as the conditions include rehired in the same positive effect on the national economy productive sectors. 

Described the economic expert on behalf of Jamil Antoine loan as good, especially as the usefulness acceptable estimated at 1, 5 percent after negotiations that lasted for two months , such as Iraq , which headed by the Minister of Finance technical delegation. 

He noted that the IMF grants loans in accordance with the terms and conditions of the recommendations of the special control of the Iraqi economy and to divert loan sectors productive projects generate income , both in production and services and do not go to salaries in order to maintain the loan of corruption which is over three years. 

He pointed out that the loan needs to be accurate employ a verification mechanism and economic feasibility of the country over to spend in specific fields check benefit through activation of production and contribute to the development process, pointing to the possibility of benefiting from the loan to increase the production of electric energy , and if we've added something to generation and distribution , we have come a good step towards the employment of the loan the direction 

right. 

Antoine said that « the private sector owns 5.6 million of the labor force looking for work in new projects in various jurisdictions, noting that this requires us to invest this loan development projects have positive impact on the Iraqi economy, especially that of the conditions of the international Monetary Fund to find new mechanisms for the disbursement of the amount.   

He stressed the importance of follow - up loan and the formation of specialized committees smooth pass the money and trends and make it an active contributor to the recovery of the Iraqi economy and supportive of the Iraqi budget that suffer a large deficit caused by pursuing the decline in oil prices crude in world markets. 

 He said the presence of development projects stalled , despite their importance in the economic life, noting that the negotiating team included representatives from several ministries such as oil and planning, electricity and adviser to the Prime Minister for Finance and the Governor of the Central Bank of Iraq and headed by the Minister of Finance.

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Wednesday 18 May 2016 17:00
 
 

It seems that the negotiations , which fought Iraq with the International Monetary Fund for about three months, I started coming to an end, and the reasons for this are many to believe first and foremost that Iraq no longer had the papers maneuvering in these negotiations, he is forced to accept the harsh conditions of the International Fund in order to get more of the loans, according to a member of the parliamentary finance committee Jabbar al - Abadi , who However , to say that Iraq surpassed the most difficult stages of the financial crisis.

 

 


The Finance Committee 's remarks come at a time when the Iraqi delegation engaged headed by Finance Minister Hoshyar Zebari marathon talks in Jordan with the International Monetary Fund is expected to be completed tomorrow , the conclusion of the so - called agreement as "credit readiness , " which will provide Iraq with financial support to alleviate the impact of the financial crisis suffocating. Negotiations coincided with meetings also with the World Bank and the Group of seven industrialized nations to obtain loans billions of dollars in long - term and soft interest, he said the central bank governor on the Keywords that Iraqi financial authority carried out a number of measures to create introductions to get these loans. sources parliamentary Finance Committee confirmed that negotiations IMF experts did not address aspects of the disbursement of these loans is believed that a large part of which will go to the reconstruction of areas affected by the military operations in Anbar and other provinces, as well as re - displaced them. it also did not prevent the reconstruction of areas affected by the operations fund terrorist efforts further by negotiating with the German development Bank for loans in this context. according to observers, the monitoring of interactions between political and economic crises is no longer difficult, especially since some political forces set conditions affect the disbursement of these loans resources for their participation in the overall parliamentary session to be held to resolve the political crisis, which included the terms of an alliance of Iraqi forces to the Iraqi government get out of the amounts due to the displaced allocated in the annual budget law, while the Kurdistan Regional government calls for securing its share of international loans to incur sheltering displaced costs and the war against Daash. according to observers, these loans that the Iraqi government rushing to get them , but a new rule increases the hottest debate political and auctions will not be, as will pay the price citizen double over taxes and heavy fees that the government continues to impose the program and in increasing the proportion of languishing citizens below the poverty line. you can watch the report on the video above.

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Official statement: Iraq and the International Monetary agreement to prepare the credit

story_img_573dc6721786b.jpg

[Wayne - Baghdad] 
finance ministry announced the conclusion of negotiations between the government delegation and theInternational Monetary Fund, and come to prepare the credit agreement [sBA] at the expert level.
 
Said in a statement received by all of Iraq [where] a copy of the negotiations concluded after noon on Thursday between the government delegation headed by the minister , Hoshyar Zebari , and the participation of the central bank governor and adviser economic prime minister and leading experts in the financial, oil and planning, electricity and experts of the International Monetary Fund and the ministries. " 
he added that "resulted in the negotiations, agree on a program to prepare the credit arrangements , which provides financial support for Iraq during the next three years, enabling it to continue to provide the war on entity Daash terrorist edit Iraqi soil requirements of claws and deficit reduction and financial gap and achieve financial and economic reform real" . the 
ministry followed " the government delegation was keen that does not affect this program on government spending in the area of social and health services and education and a network of social welfare and humanitarian programs." 
According to news access of Iraq, last Tuesday, a loan from the international Monetary Fund worth $ 13 billion with interest estimated 1.5 percent. 
as governor of the Iraqi Central Bank [agency] on the Keywords that Iraq will receive loans from the international Fund for up to $ 15 billion in the next two years. 
among Keywords in a newspaper interview , "Iraq is expected to receive this year's $ 7 billion or more, and in principle in the next two years could be that Iraq gets $ 15 billion, and these amounts could say it has become almost certain. " 
An Iraqi government delegation senior headed by Finance Minister Hoshyar Zebari held talks since last Saturday in the Jordanian capital Amman with IMF Get ready for the conclusion of the credit 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 and financial system of the country 's reform process.
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Urgent ready credit gives Iraq a loan of $ 15 billion securities certificate to deal with international banks

story_img_573dc9e66d725.jpg

[Wayne - Baghdad] to 
grant the International Monetary Fund and World Bank Iraq, according to the agreement to prepare the credit loan of $ 15 billion, in addition to a financial certification by the IMF gives him a chance to deal with all international banks with high confidence.
The finance ministry announced in a statement today, the conclusion of negotiations between the government delegation and the International Monetary Fund, and to reach a standby credit agreement [sBA] at the expert level.
It said that resulted from the negotiations, agree on a program to prepare the credit arrangements , which provides financial support for Iraq during the next three years , enabling it to continue to provide the war requirements of the entity Daash terrorist edit Iraqi territory from the claws and deficit reduction and financial gap and achieve financial and economic reform real. " 
ministry said that" the government delegation was keen that does not affect this program on government spending in the area of social and health services and education and a network of social welfare and humanitarian programs. " 
According to news access of Iraq, last Tuesday, a loan from the international Monetary Fund worth $ 13 billion with interest estimated at 1.5 percent. 
as governor of the Iraqi Central Bank [agency] on the Keywords that Iraq will get loans from the international Fund for up to $ 15 billion in the next two years. 
among Keywords in a newspaper interview , "Iraq is expected to happen this year at $ 7 billion or more, and in principle in the next two years could be that Iraq gets $ 15 billion, and these amounts may be to say that it hasbecome almost certain. " 
An Iraqi government delegation senior headed by Finance Minister Hoshyar Zebari held talks since last Saturday in the Jordanian capital Amman with the international Monetary Fund in order to conclude the credit readiness will provide Iraq with financial support to enable it to overcome the financial crisis and reduce the gap in the agreement the budget so as to enhance economic and financial system of the country 's reform process.
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CNN. Broadcasting While Breaking Into My International Piggy Bank !

 

Urgent .. Iraq gets a financial certificate enables him to deal with international banks with high confidence

: 05/19/2016 17:17 • 
.. Iraq gets a financial certificate enables him to deal with international banks with high confidence
{BAGHDAD: Iraq's Euphrates News} got a financial certification by the IMF gives him a chance to deal with all international banks with high confidence.
The International Monetary Fund, and international partners, the World Bank had agreed to give Iraq a loan of {15} billion dollars ..itba h ..
http://alforatnews.com/modules.....yid=117395

Urgent ready credit gives Iraq a loan of $ 15 billion securities certificate to deal with international banks

 05/19/2016 17:25 • 
Stand-give Iraq a loan of $ 15 billion securities certificate to deal with international banks
[Wayne - Baghdad] to
grant the International Monetary Fund and World Bank Iraq, according to the agreement to prepare the credit loan of $ 15 billion, in addition to a financial certification by the IMF gives him a chance to deal with all international banks with high confidencefollows ..

http://www.alliraqnews.com/modules/news/article.php?storyid=38405

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BIG news.!!

Getting the loans means... Iraq is doing what the IMF and WB mandates.

Soon we will see Iraq and the dinar going international.

This loans will help with Iraq credit rating.

Go iraq

 Go IMF

Go WB

Go Dinar

Go international

Go $1:1

Go Clown :D

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Now we're talking:bravo:

This is big, and I agree LaidBack this will push Iraq one step closer to the international scene. They are complying with the set mandates set forth by the global community, I really like this article, great find Thugs :bump:

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Just got this info by email from the IMF.

 

The Iraqi authorities and the staff of the International Monetary Fund (IMF) have reached a staff-level agreement on a request for a 36-month Stand-By Arrangement (SBA). Under the arrangement, and subject to the approval of the IMF executive board, Iraq could have access to IMF credit amounting to SDR 3.894 billion (about US$5.4 billion) subject to the finalization of the macroeconomic framework and financing assurances. Iraq’s previous US$3.7 billion (200 percent of quota) SBA approved in February 2010 expired on February 23, 2013. Iraq received a $1.2 billion disbursement under the Rapid Financing Instrument in July 2015.

Mr. Christian Josz, Mission Chief for Iraq, issued the following statement today in Amman:

“Iraq has been hit hard by the conflict with ISIS and the precipitous fall in oil prices. The ongoing armed conflict with ISIS continues to strain the country’s resources and is resulting in new waves of internally displaced people, now reaching over 4 million. The steep fall in oil prices is causing a large external shock to the balance of payments and budget revenue, which depend predominantly on oil export receipts.

“To address the urgent balance of payments need, the Iraqi authorities and IMF staff have agreed on a three-year program of economic and financial policies that will bring spending in line with the lower level of oil prices and ensure debt sustainability. The program also includes measures to protect the poor, strengthen public financial management, enhance financial sector stability, and curb corruption. The Iraqi authorities deserve the support of the international community in the implementation of these policies.

“The IMF Board could consider the three-year SBA once agreed prior actions have been implemented, in June or July.

“During the mission the team met with the Minister of Finance Hoshyar Zebari, Acting Governor of the Central Bank of Iraq (CBI), Ali Allaq, the Financial Adviser to the Prime Minister Mudher Saleh, and officials from the ministries of finance, oil, planning, electricity, the CBI, and representatives from the Kurdistan Regional Government, Board of Supreme Audit, and pension commission. The team would like to thank the Iraqi authorities for their cooperation and the open and productive discussions.”


 

 
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HUGE articles coming out.. and you better believe the IMF is NOT giving out these loans without certain criteria to be met regarding international status. This would include monetary reform which the dinar needs more purchasing power and value internationally in my opinion. 

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