Some facts that get over looked

[Broke IronWorker]

Iraq—Letter of Intent, Memorandum of Economic and Financial Policies, and Technical Memorandum of Understanding

Baghdad, September 24, 2004

The following item is a Letter of Intent of the government of Iraq, which describes the policies that Iraq intends to implement in the context of its request for financial support from the IMF. The document, which is the property of Iraq, is being made available on the IMF website by agreement with the member as a service to users of the IMF http://www.imf.org/External/NP/LOI/2004/irq/01/ IMF Approves Seven-Month Extension of Stand-By Arrangement for Iraq

Press Release No. 12/286

August 3, 2012

The Executive Board of the International Monetary Fund (IMF) approved on July 20, 2012—on a lapse-of-time basis1—a seven-month extension of Iraq’s Stand-By Arrangement (SBA), to February 23, 2013.

The SBA had been scheduled to expire on July 23, 2012. The extension, which had been requested by the Iraqi authorities, will provide them with time to implement the policy measures needed to complete the combined third and fourth reviews under the SBA. The extension will, in particular, provide time for discussions on fiscal policies for the remainder of 2012 and on measures to improve the functioning of the exchange regime.

The two-year Stand-By Arrangement (SBA) in the amount of SDR 2.38 billion (about US$3.58 billion), was approved by the IMF's Executive Board on February 24, 2010 (see press release 10/60). The IMF's Executive Board completed the first program review on October 1, 2010 (see press release 10/373), and the second review on March 18, 2011 (see press release 11/90). At the time of the second review, the program duration was extended by five months to July 2012, along with a rephasing of program disbursements based on a shift in financing needs. Total resources currently available to Iraq under the arrangement amount to the equivalent of SDR 1307.24 million (about $1.96 billion).

1 The Executive Board takes decisions under its lapse of time procedure when it is agreed by the Board that a proposal can be considered without convening formal discussions.http://www.imf.org/external/np/sec/pr/2012/pr12286.htm im pretty sure nothing goes down with out the go from the IMF

http://www.imf.org/external/np/sec/pr/2012/pr12286.htm

Edited November 11, 2012 by Broke IronWorker

[Broke IronWorker]

Ok here are some things i know are facts http://www.uncc.ch/status.htm iraq owes KUWAIT 13,636,716,789 Here is the link to every thing they have ever done and The Council decided to hold its next regular session from 27 – 29 November 2012 http://www.uncc.ch/start.htm they have this and they have the imf to answer to lets not forget the world bank http://siteresources.worldbank.org/IRFFI/Resources/BankingAugust2011.pdf and last but mot lest http://georgewbush-whitehouse.archives.gov/news/releases/2003/05/print/20030522-15.html

Factsheet

Where the IMF Gets its Money

August 24, 2012

Most resources for IMF loans are provided by member countries, primarily through their payment of quotas. Multilateral and bilateral borrowing arrangements provide a further backstop to IMF resources. In March 2011, the expanded and more flexible New Arrangements to Borrow (NAB) came into effect and was activated shortly thereafter. In addition, the Fund has signed a number of bilateral loan and note purchase agreements, which can be used to finance IMF-supported programs approved prior to the NAB activation. In the context of continued global financial instability, the Fund and creditor members are currently negotiating a 2012 round of bilateral loan and note purchase agreements to backstop quota and expanded NAB resources. Concessional lending and debt relief for low-income countries are financed through separate contribution-based trust funds.

The quota system

Each member of the IMF is assigned a quota, based broadly on its relative size in the world economy, which determines its maximum contribution to the IMF’s financial resources. Upon joining the IMF, a country normally pays up to one-quarter of its quota in the form of widely accepted foreign currencies (such as the U.S. dollar, euro, yen, or pound sterling) or Special Drawing Rights (SDRs). The remaining three-quarters are paid in the country’s own currency. http://www.imf.org/external/np/exr/facts/finfac.htm

here is the best link i can share Currency Code Service (ISO 4217 Maintenance Agency)

SIX Interbank Clearing Ltd acts as the ISO 4217 Maintenance Agency on behalf of the International Organization for Standardization (ISO) and its Swiss member SNV (Swiss Association for Standardization). ISO's currency codes were last published in 2008. Between published editions, the currency codes are maintained by SIX Interbank Clearing in accordance with procedures established by the standard. In addition to processing applications for codes, the maintenance agency maintains updated lists and makes them available online.

Intended for use in any application of trade, commerce and banking, as well as in the public sector, the ISO 4217 publication is designed to be equally suitable for manual use or in information technology applications. As the only recognised, authoritative source on currency code designations, SIX Interbank Clearing supplies interested parties with the most up-to-date currency codes.

Service

The update service is free of charge. An e-mail notification is sent to subscribers of the amendment newsletter as soon as currency code changes occur.

http://www.currency-iso.org/

i also think we will see this again http://www.psywar.org/product_2003IFIZG8528G.php http://www.psywarrior.com/OpnIraqiFreedomcont3.html

[fastarnie]

Thank you for bringing this to D.V.