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Statement at the End of an IMF Mission on Iraq


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...paragraph seems to enlighten the meaning of the IMF's intent....

1 hour ago, yota691 said:

and a citizen of management weaknesses. "

"Iraqi authorities and experts of the International Monetary Fund began discussions on the second revision of the standby credit agreement. These discussions will continue during the coming spring meetings of the International Monetary Fund and the World Bank in the period between April 21 to 23, 2017 in Washington, DC

 

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7 hours ago, tigergorzow said:

DV,  Don't worry be happy........Let's just wait until "Liberation Of Mosul" is done and I do believe everything will fall in place meaning important laws, etc.   Stay positive and watch the plan come together and we all will receive our blessings.  Iraq cannot continue to drag this out because it is in their best interest to return to the World Stage with an international recognized currency and 1182 is not going to cut it IMHO.....:D 

Always Keeping The Faith!!

GO RV / RI

Right you are Tiger - A few things to consider . . . a) IMF states Iraq will enter the Global Market etc., in June of 2016 [ oops didn't happen ]

B) Recent SBA review states 2019 (perhaps) before RV coulda/woulda happen - who knows what's going on with the IMF these days [ and what they say at all is reliable, right ?

c) . . . and how long have been hearing hearing/reading ( and from Abadi as well ) Early 2017 RV/Global Market and such ?

d) Didn't Saleh just a day or so ago state Iraq was going from a Centralized Market  . . .and Today we go to the Real Deal - now how the hell are they going to do that with " Toilet Paper ?"

Lots of misleading info being pretty freely tossed about these days. Also, if the "RV" were not to take place for until "2019" , wouldn't U think [ and other like minded folks ) anarchy would ensue ? Hasn't Iraq suffered enough, or are certain 3 letter Organizations going allow Iraq's population to continue to endure even more hardship - this sounds like madness to me, and the Iraqi's won't stand for it - - - and now this article emerges

I for one, will wait for the Liberation of Mosul and developing information over the next several weeks afterwards before I make up my mind if " we're going to be here for a while.   :twocents:  :wave:

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15 minutes ago, Botzwana said:

Wish I could HAVE an avatar.  Every pic I try to upload says it is too big.  Every single one.  I eventually just gave up.

Botswana I had to edit my photo in a photo editor on my phone and when I saved it it asked me if I wanted to save it at a lower jpg. I did and that one worked. Sorry I am still learning how to quote others. ;)

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6 hours ago, 10 YEARS LATER said:

Right you are Tiger - A few things to consider . . . a) IMF states Iraq will enter the Global Market etc., in June of 2016 [ oops didn't happen ]

B) Recent SBA review states 2019 (perhaps) before RV coulda/woulda happen - who knows what's going on with the IMF these days [ and what they say at all is reliable, right ?

c) . . . and how long have been hearing hearing/reading ( and from Abadi as well ) Early 2017 RV/Global Market and such ?

d) Didn't Saleh just a day or so ago state Iraq was going from a Centralized Market  . . .and Today we go to the Real Deal - now how the hell are they going to do that with " Toilet Paper ?"

Lots of misleading info being pretty freely tossed about these days. Also, if the "RV" were not to take place for until "2019" , wouldn't U think [ and other like minded folks ) anarchy would ensue ? Hasn't Iraq suffered enough, or are certain 3 letter Organizations going allow Iraq's population to continue to endure even more hardship - this sounds like madness to me, and the Iraqi's won't stand for it - - - and now this article emerges

I for one, will wait for the Liberation of Mosul and developing information over the next several weeks afterwards before I make up my mind if " we're going to be here for a while.   :twocents:  :wave:

That is not a bad assessment 10YL. Mosul will be a true indicator of where this is going.

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13 hours ago, 10 YEARS LATER said:

I for one, will wait for the Liberation of Mosul and developing information over the next several weeks afterwards before I make up my mind if " we're going to be here for a while.   :twocents:  :wave:

I agree, 10 Years Later!

In mid January of this year, I thought in two to six weeks we'd all have an answer about which way things were going to go. I didn't anticipate the break from January 24th (when the east side was taken) to February 19th (when the west side operations started up). I was thinking they were going to keep the operations going and other areas outside the Western side of Mosul were going to be sowed up to make the fall of ISIS in the Western side more quick. So, I was off on my projection.

The winding down of ISIS appears to be accelerating as they lose Mosul and other areas in Iraq. I agree that several weeks (late April or early May) would be a good evaluation point in time. I suspect conflicting information on a variety of different topics could appear in the Iraqi news media. Some of which are recycled.

You, and others, have been in this longer than I have and seen more. For the six years I have been in this investment, I do not recall seeing how good things are right now for Iraq regarding their future Security and Stability not to mention their ultra modern communications and banking systems Iraq has been putting into place to include international connectivity for the Iraqi citizens. Sure, some areas need attention but overall the economic and financial items could drop into place as a tool to facilitate rectifying the areas needing attention. My view is that not addressing the economic conditions for the Iraqi citizens in the near future could promote sectarian conflicts that would compromise gains to the Security and Stability gained to date.

Thank You again, 10 Years Later, for your analysis!

Go Moola Nova!

:twothumbs:

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14 hours ago, ChuckFinley said:

That is not a bad assessment 10YL. Mosul will be a true indicator of where this is going.

LADS . . .I sure hope we're ALL right on this and just not Peeing into the wind ! :D  Hell, I gotta a bottle of rather pricey Champagne I bought on leave in 2005 for Toasting the RV . . . Lordy, I didn't expect this investment to turn into a career -stuff happens, huh !

We wait just a bit longer I suppose  - - :rocking-chair:

6 hours ago, Synopsis said:

I agree, 10 Years Later!

In mid January of this year, I thought in two to six weeks we'd all have an answer about which way things were going to go. I didn't anticipate the break from January 24th (when the east side was taken) to February 19th (when the west side operations started up). I was thinking they were going to keep the operations going and other areas outside the Western side of Mosul were going to be sowed up to make the fall of ISIS in the Western side more quick. So, I was off on my projection.

The winding down of ISIS appears to be accelerating as they lose Mosul and other areas in Iraq. I agree that several weeks (late April or early May) would be a good evaluation point in time. I suspect conflicting information on a variety of different topics could appear in the Iraqi news media. Some of which are recycled.

You, and others, have been in this longer than I have and seen more. For the six years I have been in this investment, I do not recall seeing how good things are right now for Iraq regarding their future Security and Stability not to mention their ultra modern communications and banking systems Iraq has been putting into place to include international connectivity for the Iraqi citizens. Sure, some areas need attention but overall the economic and financial items could drop into place as a tool to facilitate rectifying the areas needing attention. My view is that not addressing the economic conditions for the Iraqi citizens in the near future could promote sectarian conflicts that would compromise gains to the Security and Stability gained to date.

Thank You again, 10 Years Later, for your analysis!

Go Moola Nova!

:twothumbs:

It's most understandable for folks to think the Mosul operations would continue without much pause from the East to West. Allot of hard fighting ensued as the Iraq/Peshmerga/Coalition sought to penetrate, then enter the Eastern Sector of Mosul; pursuing ISIS all the way to the River. No doubt the troops were exhausted and in need of rest & refit prior to the assault into the West.

Remember Iraqi/Peshmerga troops in general do not have allot of experience in taking an entire city going house to house ( we do - insurgent guerrilla warfare is one thing ) - it's difficult, ugly and the hand to hand which takes place leaves it's toll. This kind of killing demands the ultimate in concentration, stealth and a commitment to killing one's enemy in close quarters, and in most cases you're looking into the eyes of your enemy as you plunge the knife into his throat. Room to room firefights and lobbing grenades into the next room is horrific combat. This wears on any soldier, and those visions haunt a man in his sleep forever.

- The WEST was going to be extremely tougher to take than the EAST, and the troops [ knowing this ] had to get their Mind Right. Taking Bridges/River Assaults can be a fierce undertaking. There's establishing and holding onto solid ground on the opposite side by which troops and materiel can move through, allowing for a more ground gains to open up the already established Bridgeheads on the Western side. Counter attacks by the enemy at this point can be expected in an effort to destroy the tenuous situation before additional forces arrive.

The Old City with it's narrow streets and tightly packed neighborhoods was understood to be a grueling & bloody undertaking; no surprise there. It won't be long now before the West will be liberated and the announcement Mosul has been secured; then we'll see just how serious Iraq is about going Global - I hope the Iraqi bureaucrats will not let the sacrifices of all those connected (civilian/military ) with Mosul, go in vain.

We'll have the answer with the Liberation of Mosul - It's come down to this - Iraq's watershed moment. Is Iraq going to be the Butt of Jokes or are they gong to show the world they really do mean Business ???  Are we going see " Early in 2017 " or are " we going to be here for a while " ?????? I can't stress the Impending Monumental Importance coming headlong for Iraq - hope they're ready !

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22 hours ago, 10 YEARS LATER said:

Right you are Tiger - A few things to consider . . . a) IMF states Iraq will enter the Global Market etc., in June of 2016 [ oops didn't happen ]

B) Recent SBA review states 2019 (perhaps) before RV coulda/woulda happen - who knows what's going on with the IMF these days [ and what they say at all is reliable, right ?

c) . . . and how long have been hearing hearing/reading ( and from Abadi as well ) Early 2017 RV/Global Market and such ?

d) Didn't Saleh just a day or so ago state Iraq was going from a Centralized Market  . . .and Today we go to the Real Deal - now how the hell are they going to do that with " Toilet Paper  "?"

Lots of misleading info being pretty freely tossed about these days. Also, if the "RV" were not to take place for until "2019" , wouldn't U think [ and other like minded folks ) anarchy would ensue ? Hasn't Iraq suffered enough, or are certain 3 letter Organizations going allow Iraq's population to continue to endure even more hardship - this sounds like madness to me, and the Iraqi's won't stand for it - - - and now this article emerges

I for one, will wait for the Liberation of Mosul and developing information over the next several weeks afterwards before I make up my mind if " we're going to be here for a while.   :twocents:  :wave:

10YL,  Excellent summarization and Iraq cannot miss this opportunity to return to the International Stage in a BIG WAY.   My gut is telling me they will in fact take full advantage of the "Liberation Of Mosul" and simultaneously RV / RI IQD

Always Keeping The Faith!!

GO RV / RI

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6 minutes ago, 10 YEARS LATER said:

LADS . . .I sure hope we're ALL right on this and just not Peeing into the wind ! :D  Hell, I gotta a bottle of rather pricey Champagne I bought on leave in 2005 for Toasting the RV . . . Lordy, I didn't expect this investment to turn into a career -stuff happens, huh !

We wait just a bit longer I suppose  - - :rocking-chair:

It's most understandable for folks to think the Mosul operations would continue without much pause from the East to West. Allot of hard fighting ensued as the Iraq/Peshmerga/Coalition sought to penetrate, then enter the Eastern Sector of Mosul; pursuing ISIS all the way to the River. No doubt the troops were exhausted and in need of rest & refit prior to the assault into the West.

Remember Iraqi/Peshmerga troops in general do not have allot of experience in taking an entire city going house to house ( we do - insurgent guerrilla warfare is one thing ) - it's difficult, ugly and the hand to hand which takes place leaves it's toll. This kind of killing demands the ultimate in concentration, stealth and a commitment to killing one's enemy in close quarters, and in most cases you're looking into the eyes of your enemy as you plunge the knife into his throat. Room to room firefights and lobbing grenades into the next room is horrific combat. This wears on any soldier, and those visions haunt a man in his sleep forever.

- The WEST was going to be extremely tougher to take than the EAST, and the troops [ knowing this ] had to get their Mind Right. Taking Bridges/River Assaults can be a fierce undertaking. There's establishing and holding onto solid ground on the opposite side by which troops and materiel can move through, allowing for a more ground gains to open up the already established Bridgeheads on the Western side. Counter attacks by the enemy at this point can be expected in an effort to destroy the tenuous situation before additional forces arrive.

The Old City with it's narrow streets and tightly packed neighborhoods was understood to be a grueling & bloody undertaking; no surprise there. It won't be long now before the West will be liberated and the announcement Mosul has been secured; then we'll see just how serious Iraq is about going Global - I hope the Iraqi bureaucrats will not let the sacrifices of all those connected (civilian/military ) with Mosul, go in vain.

We'll have the answer with the Liberation of Mosul - It's come down to this - Iraq's watershed moment. Is Iraq going to be the Butt of Jokes or are they gong to show the world they really do mean Business ???  Are we going see " Early in 2017 " or are " we going to be here for a while " ?????? I can't stress the Impending Monumental Importance coming headlong for Iraq - hope they're ready !

10 Years, excellent assessment of the current situation and perhaps your personal experience makes you more savvy as to actually what takes place at ground zero. CQ combat makes for difficult advancement and progress is slow but I have to admit that along with the coalition forces and training Iraqi troops are receiving, they are advancing nicely. Abadi is determined to take back his country and give its citizens back their lives of peace and hopefully prosperity. 

I as well feel that the liberation of Mosul will expedite the other laws in force and accelerate this train into its final destination  :salute:

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STATEMENT AT THE END OF AN IMF MISSION ON IRAQ
Iraq, March 18, 2017
  • In 2016, real GDP growth was sustained at 11% supported by a large increase in oil output that benefitted from past oil investments 
  • In 2017, economic activity is expected to remain muted due to a 1.5% contraction in oil production and only a tepid recovery of the non-oil sector. 
  • Further reforms to create fiscal space for inclusive growth, strengthen the business environment, reduce corruption and repair the banking sector are needed to support private sector-led growth and diversification of the economy 

The Iraqi authorities and the staff of the International Monetary Fund (IMF) held discussions in Amman from March 5–17, 2017 on the 2017 Article IV Consultation and the second review of Iraq’s 36-month Stand-By Arrangement (SBA) approved by the IMF Executive Board on July 7, 2016 The SBA aims to restore fiscal and external balance and to improve public financial management while protecting social spending. The first review under the SBA was completed on December 5, 2016 ( See Press Release No. 16/540). 

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

“Iraq has been hard hit by the conflict with ISIS and the plunge in global oil prices since 2014. The government has responded to the fiscal and balance of payments crisis with a large but necessary fiscal adjustment supported by financial assistance from the international community. In 2016, real GDP growth was sustained at 11 percent supported by a large increase in oil output that benefitted from past oil investments. Nevertheless, the non-oil economy experienced an 8 percent contraction due to the conflict and the fiscal consolidation. In 2017, economic activity is expected to remain muted due to a 1.5 percent contraction in oil production under the agreement reached by the Organization for Petroleum Exporting Countries, and only a tepid recovery of the non-oil sector. 

“The plunge in oil prices has driven the decline of Iraq’s gross international reserves from $53.7 billion at end 2015 to the still comfortable level of $46.5 billion at the end of December, 2016. Fiscal pressures remain significant with the government deficit remaining at 12 percent of GDP in 2016, due to continuing weak oil prices and rising humanitarian and security spending. Total public debt increased from 32 to 64 percent of GDP during 2014-16. Credit growth decelerated and non-performing loans in state-owned and private banks increased significantly in 2016. 

“The authorities have maintained the exchange rate peg which remains a key nominal anchor. Medium term growth prospects remain modest driven by projected flat oil production and investments in the face of the revenue constraint and modest pickup in non-oil growth supported by the expected improvement in security and implementation of structural reform. Further reforms to create fiscal space for inclusive growth, strengthen the business environment, reduce corruption and repair the banking sector are needed to support private sector-led growth and diversification of the economy once post- ISIS reconstruction is underway. Risks remain high, arising primarily from uncertainty in the oil price outlook, security and political uncertainties, and administrative weaknesses. 

“The Iraqi authorities and IMF staff started discussions on the second review of the SBA. These discussions will continue during the upcoming IMF and World Bank Spring Meetings from April 21–23, 2017 in Washington, DC. 

“During the visit, the team met with the Acting Minister of Finance Prof. Abdulrazzaq A. Jaleel Essa, Acting Governor of the Central Bank of Iraq (CBI), Dr. Ali Mohsen Ismail Al-Allaq, the Financial Adviser to the Prime Minister Dr. Mudher Saleh, and officials from the ministries of finance, oil, planning, the State Oil Marketing Organization, the Central Statistical Office, the Central Bank of Iraq, and representatives from the Kurdistan Regional Government, and the Board of Supreme Audit. The team would like to thank the Iraqi authorities for their cooperation and the open and productive discussions.” 

 

imf

http://iraqdailyjournal.com/story-z14970081

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1 hour ago, 10 YEARS LATER said:

LADS . . .I sure hope we're ALL right on this and just not Peeing into the wind ! :D  Hell, I gotta a bottle of rather pricey Champagne I bought on leave in 2005 for Toasting the RV . . . Lordy, I didn't expect this investment to turn into a career -stuff happens, huh !

We wait just a bit longer I suppose  - - :rocking-chair:

It's most understandable for folks to think the Mosul operations would continue without much pause from the East to West. Allot of hard fighting ensued as the Iraq/Peshmerga/Coalition sought to penetrate, then enter the Eastern Sector of Mosul; pursuing ISIS all the way to the River. No doubt the troops were exhausted and in need of rest & refit prior to the assault into the West.

Remember Iraqi/Peshmerga troops in general do not have allot of experience in taking an entire city going house to house ( we do - insurgent guerrilla warfare is one thing ) - it's difficult, ugly and the hand to hand which takes place leaves it's toll. This kind of killing demands the ultimate in concentration, stealth and a commitment to killing one's enemy in close quarters, and in most cases you're looking into the eyes of your enemy as you plunge the knife into his throat. Room to room firefights and lobbing grenades into the next room is horrific combat. This wears on any soldier, and those visions haunt a man in his sleep forever.

- The WEST was going to be extremely tougher to take than the EAST, and the troops [ knowing this ] had to get their Mind Right. Taking Bridges/River Assaults can be a fierce undertaking. There's establishing and holding onto solid ground on the opposite side by which troops and materiel can move through, allowing for a more ground gains to open up the already established Bridgeheads on the Western side. Counter attacks by the enemy at this point can be expected in an effort to destroy the tenuous situation before additional forces arrive.

The Old City with it's narrow streets and tightly packed neighborhoods was understood to be a grueling & bloody undertaking; no surprise there. It won't be long now before the West will be liberated and the announcement Mosul has been secured; then we'll see just how serious Iraq is about going Global - I hope the Iraqi bureaucrats will not let the sacrifices of all those connected (civilian/military ) with Mosul, go in vain.

We'll have the answer with the Liberation of Mosul - It's come down to this - Iraq's watershed moment. Is Iraq going to be the Butt of Jokes or are they gong to show the world they really do mean Business ???  Are we going see " Early in 2017 " or are " we going to be here for a while " ?????? I can't stress the Impending Monumental Importance coming headlong for Iraq - hope they're ready !

I really appreciate your explanation, 10 Years Later!

I would also like to say Thank You to You and all the others who have served our country!

Welcome Back and Welcome Home!

:salute:

:bravo:

:tiphat:

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1 hour ago, Wiljor said:

10 Years, excellent assessment of the current situation and perhaps your personal experience makes you more savvy as to actually what takes place at ground zero. CQ combat makes for difficult advancement and progress is slow but I have to admit that along with the coalition forces and training Iraqi troops are receiving, they are advancing nicely. Abadi is determined to take back his country and give its citizens back their lives of peace and hopefully prosperity. 

I as well feel that the liberation of Mosul will expedite the other laws in force and accelerate this train into its final destination  :salute:

Thank you gentlemen, it means allot. :salute:

21 minutes ago, Synopsis said:

I really appreciate your explanation, 10 Years Later!

I would also like to say Thank You to You and all the others who have served our country!

Welcome Back and Welcome Home!

:salute:

:bravo:

:tiphat:

 

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Great work, Synopsis, 10YL, and Tiger. I am going to take this from a different angle. I believe 2017 is our year. I think we are a few months out and Mosel is a key event. I am basing this on two factors. 1). I can not remember reading so many articles from the CBI, financial groups, and banking sector. One day last week there were 10 different articles about banking. That whole sector is heating up. 2) Adam and Juile being on this site. Adam was giddy a few weeks back then Bang talk about the HCL. We have seen that continue in today's news. He has made it a point to do Weds, VIP, and OSI chats. He has updated all of the following: Cash in Guide, his book, VIP, CorpVIP, OSI, OGIT and has really pushed CorpVIP and getting Name Reserve. I believe he feels we are almost there and he is trying to get as many people as possible situated as possible before this hits. They both have been very active on the site. Every time I check who is on one or both are on.   He is making sure everything is in place. He is spending a lot of time addressing questions and providing guidance.  I can not think of a time since I have been in this investment or a member of this site that he has been so active. Just a different view point.  

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3 minutes ago, ChuckFinley said:

Great work, Synopsis, 10YL, and Tiger. I am going to take this from a different angle. I believe 2017 is our year. I think we are a few months out and Mosel is a key event. I am basing this on two factors. 1). I can not remember reading so many articles from the CBI, financial groups, and banking sector. One day last week there were 10 different articles about banking. That whole sector is heating up. 2) Adam and Juile being on this site. Adam was giddy a few weeks back then Bang talk about the HCL. We have seen that continue in today's news. He has made it a point to do Weds, VIP, and OSI chats. He has updated all of the following: Cash in Guide, his book, VIP, CorpVIP, OSI, OGIT and has really pushed CorpVIP and getting Name Reserve. I believe he feels we are almost there and he is trying to get as many people as possible situated as possible before this hits. They both have been very active on the site. Every time I check who is on one or both are on.   He is making sure everything is in place. He is spending a lot of time addressing questions and providing guidance.  I can not think of a time since I have been in this investment or a member of this site that he has been so active. Just a different view point.  

Yep agree 100% ChuckFinley, Adam and Julie along with the mods are in high gear here on DV and they are ramping up the information to get all of us on the same page. We have a mighty powerful group here and I have put my game plan into action. Just waiting for Yota and tiger to give us the green light on Mosul and then it off to the races imo. Let's hope and pray that the coalition forces remain safe and put IS in their rightful place  :trash2:

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22 minutes ago, Wiljor said:

Yep agree 100% ChuckFinley, Adam and Julie along with the mods are in high gear here on DV and they are ramping up the information to get all of us on the same page. We have a mighty powerful group here and I have put my game plan into action. Just waiting for Yota and tiger to give us the green light on Mosul and then it off to the races imo. Let's hope and pray that the coalition forces remain safe and put IS in their rightful place  :trash2:

I hear you man. I was serious about heading down to check Cancun out.  I want to be partying like big dog.

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1 hour ago, ChuckFinley said:

Great work, Synopsis, 10YL, and Tiger. I am going to take this from a different angle. I believe 2017 is our year. I think we are a few months out and Mosel is a key event. I am basing this on two factors. 1). I can not remember reading so many articles from the CBI, financial groups, and banking sector. One day last week there were 10 different articles about banking. That whole sector is heating up. 2) Adam and Juile being on this site. Adam was giddy a few weeks back then Bang talk about the HCL. We have seen that continue in today's news. He has made it a point to do Weds, VIP, and OSI chats. He has updated all of the following: Cash in Guide, his book, VIP, CorpVIP, OSI, OGIT and has really pushed CorpVIP and getting Name Reserve. I believe he feels we are almost there and he is trying to get as many people as possible situated as possible before this hits. They both have been very active on the site. Every time I check who is on one or both are on.   He is making sure everything is in place. He is spending a lot of time addressing questions and providing guidance.  I can not think of a time since I have been in this investment or a member of this site that he has been so active. Just a different view point.  

 

1 hour ago, Wiljor said:

Yep agree 100% ChuckFinley, Adam and Julie along with the mods are in high gear here on DV and they are ramping up the information to get all of us on the same page. We have a mighty powerful group here and I have put my game plan into action. Just waiting for Yota and tiger to give us the green light on Mosul and then it off to the races imo. Let's hope and pray that the coalition forces remain safe and put IS in their rightful place  :trash2:

I agree with you Gentlemen!

I also can't help but imagine Abadi and a few other key folks from Iraq being here in the US is also a good sign of things to come. There do appear to be small Iraqi cultural fractures appearing now that areas are being liberated. Iran isn't helping either. I kinda wonder about Iran, it seems that Iran has been destabilizing for quite some time and I am not sure what mechanisms will be used to get Iran out of Iraq. Pretty sure DJT and Mattis have the answer or are getting the answer. I had always thought the B-52s moved into the area were a little overkill for ISIS so we'll see. I am thinking the economic reform is a strong and necessary lever to get international investment into Iraq for rebuilding and developing a robust Iraqi economy and they can't wait too long before either the Iraqis self erupt into sectarian conflict or some country like Iran stirs the pot. We'll see.

All in all, I think we are approaching a point that Iraq has never been in a better condition than now and is in a prime position to git 'er dun 'n let 'er buck!

Go Moola Nova!

:twothumbs:

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