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ognogerson

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  3. IMF

    in Iraq & Dinar Related News

    Posted

    IMF Executive Board Completes Second Review Under Stand-By Arrangement with Iraq, Grants Waivers and Approves US$471.1 Million Disbursement

    Press Release No. 11/90

    March 18, 2011

    The Executive Board of the International Monetary Fund (IMF) today completed the second review of Iraq’s economic performance under a program supported by a Stand-By Arrangement (SBA). Completion of the second review makes an additional SDR 297.1 million (about US$471.1 million) available for disbursement, bringing the total resources currently purchased by Iraq under the SBA to SDR 1.069 billion (about US$1.7 billion).

    The Executive Board also approved a waiver of applicability of the end-December 2010 performance criteria on the central government fiscal deficit and on the central government spending bill, for which data is not yet available. The Executive Board furthermore approved an extension of the SBA by five months to July 2012, and a rephasing of access under the SBA to match disbursements with Iraq’s balance of payments financing needs.

    The SBA was approved on February 24, 2010 (see Press Release No. 10/60) for SDR 2.38 billion (about US$3.77 billion). The SBA supported program aims to ensure macroeconomic stability and provide a framework for advancing structural reforms in Iraq.

    Following the Executive Board’s discussion on Iraq, Mr. Naoyuki Shinohara, Deputy Managing Director and Acting Chair, stated:

    “Iraq has maintained macroeconomic stability under difficult external and internal circumstances, while making efforts to rebuild key economic institutions. Inflation has remained subdued, and the exchange rate has remained stable. The 2011 budget aims to accelerate investment in public services and infrastructure, and accommodates higher social safety net provisions to support those in need. Iraq’s rehabilitation needs remain large and the higher investment spending is essential to help create a vibrant private sector that provides employment opportunities for Iraq’s large labor force, thus helping to reduce poverty. At the same time, a strong emphasis on ensuring the quality of public spending will be important.

    “Decisive efforts to rebuild key economic institutions and improve governance will be critical for private sector development. The formation of the new government and the expected increase in oil production in the coming years offer an opportunity to do so while maintaining macroeconomic stability. Further strengthening public financial management encompasses the introduction of an automated financial management and information system and improvements in cash management which would eventually culminate in the establishment of a single treasury account. Establishing a framework for oil revenues to succeed the Development Fund for Iraq should help ensure continued accountability and transparency. In the financial sector, moving ahead with the financial and operational restructuring of the two largest state-owned banks and enhancing the central bank’s supervision capacity will contribute to creating a financial sector that can provide essential services to the private sector.

    “Iraq continues to make progress to conclude debt agreements and resolve outstanding claims under terms comparable to the 2004 Paris Club Agreement.”

    http://www.imf.org/external/np/sec/pr/2011/pr1190.htm

    • Upvote 3

  6. INTERESTING!

    in Dinar Rumors

    Posted

    Interesting... Agreed.

    I'll be honest. I only read about 1/4 th of it since I just finished a 12 hour work day.

    It could mean something exciting though.

    I have a question for you though. People think I may be a Pumper. Since you seem to be a solid member here might you read my post about the Dallas Oil Man, Couple and 4 Saudi Arabian college students and enlighten me as to why people are so suspicious of me?

    Do you think there is a good way for me to share my experiences and not come across negatively?

    PEACE & BLESSINGS

    I wouldn't take it personal. Its just the nature of the beast. Keep posting!!

  7. Authentic Dinar?

    in Buying and Selling Dinar

    Posted

    Can someone answer this question. I purchased twenty 50Dinar notes and found that two of them had the exact serial number. I looked for the variation in symbols to ensure I didnt overlook something. The watermark is there, security strip is there and the colorful reflective symbol is present.

    I have a concern that I purchased counterfit unless they do print duplicate serial numbers. post-31866-129934183144_thumb.jpg

    I got 25,000 notes from dinar trade and some of mine have the same serial numbers to. Im not to worried about it with the certificate of authenticity i have

  9. WTO IN IRAQ

    in Dinar Rumors

    Posted

    Got this from my Dad in an E-mail. Just passing it along.

    From KarenAnn - Call notes - PTR Call that ended around 2:25pm MST: guy named Paul speaks who know many in Iraq as he is himself in Iraq. An Iraqi man, a friend came up to him and asked him if he held IQD because it was going up and he would soon be rich. Trying to get confirmation of contracts in the new rate IQD. Paul went into Warka Bank and asked if the lower denoms were coming out, tellers said yes, they had heard this from corporate and it would happen soon. Another day of rage took place friday in Iraq. Chuck comes on and says about 90 mins ago he got a call from a guy in DC in a meeting. It's coming down the first of next week is what this caller whispered to Chuck. One of the mod's [Tony] comes on and says they have rec'd several of the same type of call today. News from Jody/Mickey: confirmation that WTO is moving into Baghdad, setting up office or offices, and people are applying for jobs at WTO. High level indication for imminent reval. Job effective date March 15th. Another guy chimes in and says the WTO required Iraq to have revalued dinar. Another guy starts talking and says his several sources say the same thing-that reval is imminent. Discussion about the new treasury regs. Warning for anyone attempting to take $ out of country unreported, be prepared to have it subjected to forfeiture. As of March 1, FINCEN rules have changed.

    • Upvote 6
    • Downvote 3

  10. RV Sunday?

    in Dinar Rumors

    Posted

    LOL I wont shoot you. I JUST DONT BELIEVE YOU! Why would you be given intel on what is happening in IRAQ from our GOVT?

    If this were a stock in trade it would be unlawful to leak out any intel. YET THIS IS A MUCH BIGGER EVENT! This would not be let out so that someone would know (like you) and all of the news casts dont!?

    NO WAY! People this will not be something any of us will have intel on. USE YOUR BRAINS. It might be SUNDAY by this posts luck. But no one knows on this site a Day or Date or Time!

    What I am saying you can take to the bank! Dont trust the hype on this site. Trust KNOWN and TRUE FACTS only.

    Go RV

    WELL SAID!!!

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