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Mali official: Iraq began to withdraw from its reserves and requested the assistance of the International Monetary Fund


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there will not be any loans prior to a change in the value...period.   The loan is already done and standing by FYI

 

You have been saying that for a number of months and to date, you are correct.  There have been numerous news reports of loans but none have come through that I can see and there has been no RV.  As I have stated in the past, I hope that you are right, Tlar. 

Monetary Fund: $ 800 million loan to Iraq within weeks

 

 

         

5/6/2015 0:00 

 Dubai (Reuters) - 

A senior official at the International Monetary Fund said that Iraq's request for financial assistance from the Fund and it may be agreed to loan $ 800 million in a matter of weeks. 

financial situation severely worsened by the collapse of oil prices since last year, as well as organizing attacks (Daash) terrorist . The government projected a deficit of about $ 25 billion this year in budget sizes up to about 100 billion Dolar.oukd contribute to the International Monetary Fund loan to ease the pressure and help the government measure funding from other sources by enhancing investor confidence. Baghdad has said it intends to issue bonds at five billion dollars and is the first international version nine years ago. 

Masood Ahmed Director of the Middle East and Central Asia Department at the International Monetary Fund said "will work committees in this regard in the coming weeks. We hope that we reach an agreement relatively soon." 

and between Ahmed it is likely to submit the loan through rapid funding mechanism would be "relatively small at about $ 800 million." 

established the IMF rapid funding to provide financial aid and urgent advice on the economic policies of the Member States that need circumscription urgent aid to adjust the balance of payments mechanism. According to the website of the International Monetary Fund repay the loan provided by the rapid funding over a period of between 40 to 60 months mechanism. 

Loan way to get Iraq on larger loans from the fund when needed package could pave But such loans may require greater commitments on economic policies adopted. 

In Last week, Finance Minister Hoshyar Zebari that Baghdad will seek to obtain sovereign credit rating to facilitate the issuance of bonds. The government is about application procedures or working on the preparation procedures include asking bonds in local currency to the banks and the imposition of taxes on some consumer goods or cut public sector wages. 

Ahmed said that Iraq began to withdraw from its reserves and added that it is likely to grow slightly economy after a contraction of 2.4 percent recorded in 2014. 

"I realize the Minister of Finance and the Prime Minister completely that there is a problem and are committed to finding a solution within the constraints they face."

 

 

If Tlar is correct, and there is no loans until the RV, based on this article, we will see that RV within weeks.  Let's get it going, Iraq!

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07/05/2015 (00:01 pm)   -   the number of readings: 123   -  number (3357)
 
 
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Baghdad / al-Suhail Ahmed 
 

Economists stressed that the borrowing from the IMF would impose on Iraq the commitment of reform and development programs in the economic side, and as pointed out that this borrowing will increase the economic efficiency of Iraq, indicated that Iraq would be obliged to provide high standards of transparency and the preparation of budgets in a scientific and sophisticated.

 

 

The economist said Maytham coffee in an interview for the "long" that "part of the solution to the budget deficit problems is to resort to borrowing from the funds and banks, international federations, and it is one of the corridors that will restore Iraq to the international community economically and not necessarily expect Iraq in financial burdens," he said that "the Fund concessional loans and long-term and comes with a package of economic reforms." 
He noted that "over the past years and after that ended Iraq's agreement with the Fund have not been able to control the variables of the Iraqi economy, such as increasing inflation and rates of disability and not Iraq is unable to promotion of the private sector and the multiplicity of sources revenue, "noting that" there are political and adequate reasons behind it, but no matter which part we could not stay on the tax farming reforms Fund. " 
He continued by saying that "what has enabled Iraq to escape from the grip of Fund conditions previously, is that the financial constraint was open in the government period Previous, and low global oil prices returned usefulness of partial to adjust the Iraqi economy, "pointing out that" borrowing bring Iraq back to the financial Adjustment mode according to accredited to the International Monetary Fund standards. " 
He pointed to the coffee that "oil countries have areas to escape the laws and reforms of the International Monetary Fund , because those countries do not need to loans as a result of economies rentier large financial potential. " 
He noted that "the IMF imposes on Iraq to reduce government expenditures and increase revenues, so this borrowing is input reformer to reduce the role of the state, and when increasing role of the state is increasing the deficit and increased expenses and thus it would reduce its role to give a greater role to the private sector. " He pointed out that "the very loans are to address the deficit, but will link Iraq's obligations it fulfilled." 
He added Laibi "The International Monetary Fund warned Iraq in 2013 than there would be in deficit and bankruptcy was achieved because Iraq did not abide by those reforms," ​​noting that "reforms Fund long-term and subject to Iraq with the obligations of economic and progressive laws to reform the internal economy. " 
On the possibility of availability of financial liquidity to Iraq in the current period, and coffee explained that "the solutions put forward short-term and rely heavily on the hope of rising global oil prices and this Murad will not be achieved over the current year, nor the possibility to provide liquidity in the current period where there is still pressure for the expenses. " 
He expressed the hope that "oil prices do not go up to what it was in the previous year, because of economic reform requires the search for alternative sources of revenue and control government spending," adding that "the modernization of the private sector depends on adjust government spending. " 
He noted that "at the International Monetary Fund a lot of reform programs, including transparency and reform of budget management and clauses of recording revenue and public expenditure and the need to be expenditure estimates close to reality by presenting final accounts." 
He concluded his speech by saying, "It's not just loans It is to provide advice and prepare policies and development programs for the management of resources and methods of budgeting in a scientific talk. " 
so said economic expert on behalf of Antoine "The IMF does not give loans easily only after an economic study of the reality of the country and how much he needs to borrow, and the Fund's integrated binders for economic situation of Iraq, "adding that" the requirement of the fund set up economic reforms is so do not go the money in vain. " 
He added Antoine in his speech for the "long" that "the Fund required to Iraq lend the $ 800 million to complete the stalled work projects, were developed this condition so as not to waste money, especially that Iraq is suffering from a huge waste of money as a result of financial and administrative corruption. " 
He noted Antoine that "the Fund asks reforms of the Iraqi government, especially in the field of organizing the accounts and operations of exchange because this lending semi-free" noting that "the return on those loans will be positive on the country, especially in the aspects of financial control and adjust government spending. "
He continued, saying that "the fund will continue watching the style and process of exchange leads until the result was given for it, because Iraq is suffering from chaos in the financial and economic file management."Noting that "the weak follow-up by the financial authorities and the House of Representatives and the Ministry of Planning has led to a lot of investment and productivity projects crashes." 
He noted that "follow-up and control process is essential to limit the exchange absurd and prevent financial and administrative corruption and the abolition of phantom projects that filled the previous budgets," pointing out that " We have a cumulative 9027 precedent for years has been done with more than 500 projects. " 
He pointed Antoine that "borrowing will make the Fund imposed on Iraq prepare scientific budgets and control because there are flaws in the Iraqi budget," calling them "balance sheets items are not programs and strategies." 
said a senior official in the The International Monetary Fund yesterday Tuesday that Iraq's request for financial assistance from the Fund and it may be agreed to loan $ 800 million in a matter of weeks. 
He said Masood Ahmed Director of the Middle East and Central Asia Department at the International Monetary Fund that "the committees in the fund will work in this context, in the coming weeks and consider a deal soon. " 
He added that "it is likely to provide the loan rapid funding mechanism will be relatively small and is estimated at approximately 800 million dollars." 
According to the rapid loan laws in the International Monetary Fund, the repayment will be over a period of between 40-60 months . 
The Iraqi government has announced that it was issuing financial bonds worth 5 trillion dollars in cooperation with the Dutch, German Bank and the City, US Bank, and this is the international version first financial bonds in nine years to finance the deficit in the federal budget. 
The Finance Minister Hoshyar Zebari had announced ( May 2, 2015) that Iraq sought to obtain the sovereign rating and communicate with the credit rating agencies in preparation for the issuance of financial bonds worth $ 5 billion. 
Indeed, Iraq has a bad financial are conditions due to the large drop in oil prices as well as security problems due to battles with al "Daash", estimated In the federal budget deficit by 25 billion dollars and 25% out of the budget planned $ 100 billion.

 
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Publishing Date: Thu, 07 May two thousand and fifteen 3:05:20 p.m. | Views: 29

BAGHDAD - Today's News

 

Stressed the economic expert, on Thursday, to be truthful International Monetary loan of $ 800 million was earmarked for supporting the stalled projects, indicating that the loan is a semi-free but subject to the obligations of Iraq in the development of the internal aspects of the economy and the preparation of budgets in a scientific manner.

 

The economist said, and Vice President of Industrialists Iraqis Union, on behalf of Antoine, for "Today's News", that "the IMF required to Iraq lend $ 800 million to complete stalled projects and the establishment of internal economic reforms, so do not go the money wasted," pointing out that "Iraq It suffers a big waste of money as a result of financial and administrative corruption. "

 

Between Antoine and that "the reforms demanded by the International Monetary Fund is in the field of organizing accounts and operations of exchange and the development of regulatory regimes", adding that "a positive return on those loans to Iraq, especially in the aspects of adjusting government spending."

 

The description Antoine, Iraqi budgets as "the budgets of items and not the budgets of scientific programs and strategies," noting that "the fund will impose on Iraq budgeting in a scientific and accurate."

 

He noted that "the fund will be watching borrowed money exchange operations to complete the projects to prevent any operations of financial and administrative corruption."

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Parliamentary Economy: wars depleted the treasury and the government borrows billions of dollars
Economy and tenders
 Since 09/05/2015 15:57 pm (Baghdad time)
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Special scales News
A commission of economy and investment representative, Saturday, for the government to borrow $ 800 million from the International Monetary Fund, stressing that the military expenditure of millions of dollars and the cause of austerity and deficit of the state budget measures.
He said committee member Najiba Najib's / scales News / "The government borrowed $ 800 million from Snodq Alguend and 9 trillion Iraqi dinars from the Rafidain and Rasheed Bank to fill Ajou Add to issue financial bonds worth $ 5 billion."
He said Najib, said that "the war experienced by Iraq against the terrorist organization Daash depleted budget for the fiscal state and its treasury," pointing out that "military spending millions of dollars and increased commitments from the government to repay."
This "revealed the advisers to the prime minister for" The assistance provided by the World Bank to Iraq surpassed the billion dollars, while the World Bank presented a report which said that the amounts spent on projects amounted to about $ 430 million.A statement issued by the Authority: held at the tenth meeting of the Commission for Follow-up Committee of the World Bank-funded projects co-chaired by the President of the advisers and the Chairman of the Committee Thamer Ghadhban and Mary Helen president of the country team to the World Bank in Iraq. "
And pass "Iraq state of war against al Daash after the terrorist control of the city of Mosul in the 10th of June, which the government called for contracts to arm the security forces and the army and the purchase of weapons, very large amounts of money burdened state" .anthy / 29 / d 24 budget

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  • 1 month later...

there will not be any loans prior to a change in the value...period.  

 

Well Tlars Brother, according to this article, there are two loans from Japan that have been signed.  Either the RV is upon us or as much as I had hoped the you were correct, you appear to be wrong on this one.   

 

Here is the link...http://dinarvets.com/forums/index.php?/topic/204832-iraq-signed-a-final-contract-with-japan-on-two-loans-worth-735-million/

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Well Tlars Brother, according to this article, there are two loans from Japan that have been signed.  Either the RV is upon us or as much as I had hoped the you were correct, you appear to be wrong on this one.   

 

Here is the link...http://dinarvets.com/forums/index.php?/topic/204832-iraq-signed-a-final-contract-with-japan-on-two-loans-worth-735-million/

He was referring to the IMF Loan

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Iraq has wealth, much of it under the sand. Revaluation of the Dinar would be spending that wealth, borrowing from the future, so to speak. The difference is that they wouldn't pay interest on the loan in the usual sense, but if they wisely invested in the future it would yield an even greater return for future generations than the oil would (especially since oil as an energy source's days are numbered).

Think positive Iraq!

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He was referring to the IMF Loan

Iraq has a Liquidity program provide by the CBI, which is setup for the small business loans, which is coming from the reserve of the CBI over seen by the IMF (lets hope it the LD)....the other loan from the World Bank or IMF is another Loan, which should trigger the International process, credit rating, recognize the IQD as trade-able currency.... the Japanese Loan is a Investment deal, which is more then likely a trade out for Oil....IMO by the news articles

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Iraq has a Liquidity program provide by the CBI, which is setup for the small business loans, which is coming from the reserve of the CBI over seen by the IMF (lets hope it the LD)....the other loan from the World Bank or IMF is another Loan, which should trigger the International process, credit rating, recognize the IQD as trade-able currency.... the Japanese Loan is a Investment deal, which is more then likely a trade out for Oil....IMO by the news articles

Exactly

+1 fam

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  • 2 weeks later...

there will not be any loans prior to a change in the value...period.   The loan is already done and standing by FYI

 

Tlars Brother,

 

You wrote this back in May and I have to give credit where credit is due.  You called it and stated that it was a done deal.  It looks like you were correct...http://dinarvets.com/forums/index.php?/topic/205395-world-bank-lends-about-two-billion-iraq-to-ease-the-fiscal-deficit/

 

Cheers to you, now let's have the RV to go along with it!

Dr. J

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