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Laid Back

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Everything posted by Laid Back

  1. CBI continues moving forward with the electronic banking project.! e-salaries e-payment e-transfer e-card e-auctions e-banking
  2. Iraq will have to hurry and finish the electric grid interconnection with Saudi Arabia and Kuwait.
  3. Restructuring the National Oil Company is going to help with the management of oil wealth throughout Iraq, and work to solve outstanding problems with the Kurdistan. Go NOC Go HCL Go RV
  4. Their 2021 budget calculations are at $46 dollars per barrel, Today oil prices are $70 per barrel. Can you say Surplus.!!! Go CBI Go delete of the 000 zeros Go RV
  5. There’s 5 Axis on the White Papers aka Reforms Project. The First Axis is: Achieving sustainable financial stability I’m pretty sure that Delete of 000 project is part of the first Axis. Go White Papers Go CBI Go Delete of the 000 Go RV
  6. When new bills are printed and delivered to the banks they already come with currency bundles tapes. So, I believe they need bundles tapes for old and damaged currency taking out of circulation. Just my opinion.!
  7. Axis 1: Achieving sustainable financial stability Axis 2: Achieving macroeconomic reforms according to strategic principles, giving priority to productive economic sectors, and creation of sustainable employment opportunities Axis 3: Improving the key infrastructure which contributes to the advancement of future sectors Axis 4: Providing the key services, and rationalizing and directing social welfare, giving priority to the poor, and offering them protection during and after the reform process Axis 5: Developing governance/ legal and administrative environment, to empower institutions and individuals to implement the reform. Number one priority is Achieving sustainable financial stability. Reforming financial management systems is part of that. If the timeline of the Withe papers aka reform process is 3 to 5 years, the timeline for implementing currency reforms will be less than that. Is just a matter of time…….Our payday will come
  8. HCR, The timeline is 3 to 5 years. Got the information from the White Papers pdf document posted by: @Bama Girl🏆 Very interesting read. all they’re doing is to move to a free market economy.
  9. Reforming financial management systems 1) Accelerate implementation of the Integrated Financial Information Management System project (IFMIS) to modernize the public financial management and the “Consolidated Treasury Account (TSA)” in cooperation with the World Bank. 2) Conduct a comprehensive census of government employees in order to implement an electronic HR system linked to payroll systems and other databases, and develop a management software for biometric data of all public sector employees. 3) Harmonize government salaries and allocations according to international standards, review job levels in a consistent and rational manner, and develop and establishing a medium-term financial goal for public sector wages and salaries. 4) Restructure the domestic government debt. 5) Amend the law of Ministry of Finance to update and restructure it according to the latest international standards, assess its functions and responsibilities to make it the only executive body responsible for implementation of the public financial policy, establishing, implementing and monitoring the Public Finance Management System (PFM), so that MoE assumes full responsibility for implementation of the PFM and monitoring its performance. 6) Building technical and administrative capacities and skills of the employees of Ministry of Finance and for all posts, and establish a specialized public finance management institute to provide training and strengthen the skills of all medium and high-rank employees as well as front-line employees within Ministry of Finance as the first step, and then roll out to cover all employees of the public sector. 7) Strengthen the administrative and financial capabilities of the Ministry of Finance in the field of data collection and projections, and reporting on macroeconomic factors. 8-Reviving the petrodollars and customs revenues, and the commitment related to sharing revenues with governorates, according to the laws in force. 9) Establish a program-based public budgetary framework (PBB) and implement it on the medium term (3-5 years), including institutional restructuring, capacity building and generating quarterly budget reports for auditing and control purposes. 10) Review the design and funding of the investment budget to ensure project financing over the project life in order to prevent delays due to the impact of delayed budget approval and execution. 11) Establish sustainable formal structures and systems to implement the principles of fiscal federalism. 12)Study the current exchange rate of the dollar against the Iraqi Dinar (IRD), taking into consideration the requirements of financial and monetary stability and realizing competitiveness for the Iraqi economy. 13) Improve the public investment framework by setting medium-term investment goals as part of the GDP, and redefine the public investment management system (PIM) based on the international best practices, link public investments with the national and sectoral strategic framework, operationalize the central monitoring system to review and monitor project implementation, auditing, reporting, evaluation and accountability, as well as integrating GDP measurement system with the integrated financial management information system. 14)Establish an advisory team consisting of economists with international experience and reputation to support the reform process.
  10. Good News.! Restructuring of the National Oil Company is a step forward to open new horizons for the development of the oil and gas industry in the country, and Iraq will gain its fruits after years by the development of the oil and gas sectors and infrastructure, and improve the performance of workers in the oil sector, and develop the work of the private sector in the country, which will have a major role in the development of the national economy. Go Iraq Go NOC Go HCL Go RV
  11. I imagine an endless stream of white sheep jumping over a fence, counting each as they go 🐑🐑🐑🐑🐑🐑🐑🐑🐑🐑🐑🐑 I felt asleep 😴
  12. I agree, good news.! Iraq continues their quest for an open market economy. Go WTO Go Trade Go imports / exports
  13. Delete of the zeros and increase of the dinar exchange rate has to be part of the economic reform plan (Withe Papers) Go Al kazemi Go reforms Ge delete of 000 Go RV Go economic strength
  14. One Kilogram of gold is around $58,383.00 100 kilograms of = $5,838,300.00 million dollars Iraq 2021 Budget was calculated at $46 per barrel of oil. Oil prices today are over $70 per barrel…. They have a budget surplus. I remember another article talking about Iraq creating an emergency fund with the surplus. CBI sales $200 million dollars a day in the currency auction. Why CBI sold 100kg of gold when they can easily take $5.83 million dollars off the emergency fund or the foreign currency reserves. Just trying to understand
  15. After Iraq pay in full to Kuwait, this will lead to the lifting of international immunity for Iraq's money abroad and it will be subject to implementation by some creditors from other parties and companies. Also I believe Iraq will become a sovereign nation with and international recognized currency. - US military forces in Iraq till the end of this year - Iraq will complete during the coming period the full payment for war reparations to Kuwait - The electrical network in Iraq is likely to be linked to the networks of Saudi Arabia and Kuwait - Development of banking system, private sector, industrial sector and agricultural sector - The grand Al-Faw port project No doubt Iraq is moving forward like never before. Go Iraq 🇮🇶 Go international Go RV
  16. The election thread page 5 talks about why PM and his administration are not running or supporting any party for the up coming election... Thanks Yota 👍🏼😉
  17. “They also confirmed that they will defend its immunity with the rest of the countries and these reserves cannot be compromised. As Iraq will complete during the coming period the full payment of the compensation and benefits accrued from it prior to 2003, this will lead to the lifting of the international immunity for Iraq's money abroad and it will be subject to implementation by some creditors from other parties and companies.” They are talking about compensation payments for war reparations to Kuwait. $2.5 billion dollars left to complete the full payment. Go Iraq 🇮🇶
  18. He’s part of the interim government, he can’t run for PM is the coming elections.
  19. I agree with you GD07, The potential of Iraq is outstanding 💯% Al-Kazemi is not running for PM in the coming elections.
  20. Egypt placed third in Forbes Middle East’s list of largest economies in the Arab region with a total GDP value that is expected to jump to $394.3 billion in 2021, up from the $361.8 billion recorded in 2020. Egypt retreated to third place behind the UAE, which advanced to second place with a projected total GDP of $401.5 billion in 2021, up from a $354.3 billion posted in 2020. Saudi Arabia maintained its position as the biggest economy in the Arab region with its total GDP value expected to hit $804.9 billion in 2021, up from $701.5 billion attained in 2020. Iraq kept its spot in fourth place, with an expected $190.7 billion GDP in 2021, up from $172.12 billion reached in 2020. On Thursday, Egypt’s Ministry of International Cooperation announced that the country ranked fourth with an index of 88.7 in the Economist’s ‘normalcy index’, tracking behavioural changes due to the COVID-19 pandemic that impacted world economies owing to the socioeconomic challenges the world witnessed in 2020. Egypt’s Minister of International Cooperation Rania Al-Mashat explained that the index included 50 of the world’s largest economies that represent 90 percent of global GDP and 76 percent of the world's population, adding that Egypt’s ranking reflects the country’s resilience against the COVID-19 pandemic and its related severe impacts. Egypt’s real GDP growth is expected to rebound significantly in the current FY2021/2022 to 5.2 percent, up from the projected 2.8 percent for the FY2020/2021, according to Celin Allard, the chief of the International Monetary Fund’s mission for Egypt on the stand-by agreement (SBA) programme. Allard made her comments during a press briefing held in June on the occasion of the completion of Egypt’s 12-month SBA loan programme. Under the programme, Egypt secured a loan amounting to $5.4 billion dedicated to help the country cope with the challenges posed by the coronavirus by meeting its balance of payment needs, reducing the budget deficit, maintaining the achievements made over the past four years under the country’s economic reform programme, and providing finances for implementing Egypt’s second wave of economic reforms. Countries surrounding Iraq 🇮🇶 Turkey 🇹🇷 $0.12 Iran 🇮🇷 $0.000024 Kuwait 🇰🇼 $3.32 Saudi Arabia 🇸🇦 $0.27 Jordan 🇯🇴 $1.41 Syria 🇸🇾 $0.000795 Sooner than later Iraq will have to add value to their currency. Is just a matter of time. Go Iraq Go development Go international Go RV
  21. “The United States and Iraq are expected to formalize the end of Washington's combat mission in Iraq by the end of the year” Maybe I’m wrong but I believe this means Iraq will be a sovereign nation. With a military force capable of defending their own country. sovereign nation with an international recognized currency by the beginning of 2022. This will give them time to do the elections and tight up all the loose ends by the end of 2021. Looking through my RV glasses 🤓
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