IMF: Abadi will adjust the budget and reforms being to adjust the financial performance and to reduce the value of the dinar

[yota691]

 

 

support the reduction in the value of the Iraqi dinar" rel="external nofollow">

The International Monetary Fund does not support the reduction in the value of the Iraqi dinar

IMF: Abadi will adjust the budget and reforms being to adjust the financial performance and to reduce the value of the dinar

 

Author: BS, ZJ 
Editor: BK, BS 2015/11/14 23:08 Number of Views: 696 
 

 

 

Long-Presse / Baghdad

The International Monetary Fund, said on Saturday that Prime Minister Haider al-Abadi, will adjust next 2016 budget in line with the macroeconomic framework of the program watched by the fund, while between that of the most important of those reforms to approve the draft financial management law and the completion of a survey of local backlog The government, and compile a list of bank accounts under its control, and the appointment of auditors of international financial data for Bmsrvi Rafidain and Rasheed, showed lack of support for the devaluation of the dinar.

The head of the IMF mission for Iraq, Christian Jusz, in response to questions from reporter (range Press), "The program, which is monitored by IMF staff pillar is financial framework for Iraq to the end of next 2016," noting that "the Iraqi prime minister, Haydar al-Abadi , adjustments will be next on the 2016 budget and submit it to the House of Representatives in line with the framework of the agreed macroeconomic program under the IMF experts who follow him. "

He Jusz, that "the program is watched Fund, requires the Iraqi government's commitment to reforms affecting public financial management of the country, and banking supervision, during the remainder of the current 2015 until next 2016," noting that "the most important that the approval of the draft Administrative Law financial reforms that was sent to the Council of State, about in line with the comments of the World Bank and the International Monetary Fund. "

The head of the International Monetary Fund for Iraq mission, that of "other reforms to complete a survey of local arrears accumulated on the Iraqi government, and compile a list of all Government-controlled bank accounts with the Central Bank of Iraq, and government and private banks," pointing out that "the reforms also include the appointment of auditors accounts international to audit the financial statements of Bmsrvi Rafidain and Rasheed. "

And whether the International Monetary Fund, was happy with the monetary policy in Iraq, despite the many criticisms on them, said Jusz, that "the Fund shall provide technical assistance to the Iraqi authorities for the implementation of policies related to foreign currency and the removal of restrictions on him."

And on the Fund's position on the reduction of the Iraqi currency value, The head of mission for Iraq, that "the IMF does not support it, because the exchange rate provides a nominal pillar President in an unstable environment to a large extent, having weakened policy capability because of the conflict with Daash".

In the axis respect to the effects of the revelations Chairman of the Parliamentary Finance Committee, the late Ahmad Chalabi, and published (range), Jusz said, "The Fund talks with the Iraqi side, did not address those files," adding, "but within the program that pursued by the fund, the government Iraq will impose administrative fines and penalties for banks, non-bank financial institutions that do not apply the provisions and laws. "

 It is noteworthy that declared the Iraqi Central Bank, announced first on Thursday, (the 12th of November the current 2015), for the imposition of fines close to 400 billion dinars to 40 banks, noting that impose a variety of sanctions on 426 financial institution is a bank, for manipulation auction currency or submit Docs is a fundamentalist, and the imposition of trusteeship on the four banks, one of which came to an end liquidation, while the rehabilitation of two other banks, as well as the imposition of multiple fines convergence five billion dinars related to banking and other irregularities.

The International Monetary Fund, a specialized agency of the Bretton Woods system of the United Nations, was established under an international treaty in 1945, to work on enhancing the safety of the global economy, and is located Fund headquarters in Washington, DC, and managed by its members who include almost their number of 188 countries all countries of the world.

 

 

[SgtFuryUSCZ]

***///

 

So they're not gonna let it tank.  Gee, that's nice.  

[calkid11]

Thank you Yota

[jg1]

NO, the IMF isn't going to allow it. 

 

International Monetary Fund, was happy with the monetary policy in Iraq, despite the many criticisms on them, said Jusz, that "the Fund shall provide technical assistance to the Iraqi authorities for the implementation of policies related to foreign currency and the removal of restrictions on him.

And on the Fund's position on the reduction of the Iraqi currency value, The head of mission for Iraq, that "the IMF does not support it

 

[sandfly]

THANKS

[eburt]

Ok so is this good or bad for us?????????

[DinarDavo]

Ok so is this good or bad for us?????????

 

Who knows? Print more 000s to delete the 000s....devalue the dinar to save the economy....I give up.

[NoviceInvestor]

Ummmm... How much lower can it go?.....

[jcfrag]

Maybe "reduce" the number of zeros to make it .86

[ronberta]

I hate to say this but Im a little stressed out now after reading this ... so someone Please tell us if this is real bad news or real good news , cuz the way Im reading it , sounds like bad news ....  someone please set this straight !!   I sure hope Im wrong  cuz after the last cupple chats for Adam sure sounds like we are closer than ever and not far off , I sure hope this is the case , Adam please help

[Flash101]

Some of us old timers remember when Kuwait RV'd and they said allot of confusing krap to miss lead everyone just before they really did it so I take everything in stride watch, learn & listen the guru's don't help the matter to me they are all wanna be's so don't let anyone get your under ware in a knot. If you have been in this as long as some of us Dinosaurs have been then you heard it all and you should be numb to it by now. Just relax and hang on the ride isn't over the vertically challenged lady wasn't sang yet.

 

101    

Edited November 15, 2015 by Flash101

[magawatt]

Que sera sera

What ever will be will be

The Futures not ours to see

Que sera sera

Except for Cuba Libras on the fantail!

[yota691]

They are involved in the reform of the political and economic aspects

 

 

         

11/15/2015 0:00 

BAGHDAD - Alaa al-Tai 
An official in the executive branch the adoption of the government strategy of reform include making inter orders and decisions to address the imbalance in the structure of the state's political, economic, financial, administrative and service aspects and the fight against corruption, while expressed his confidence in its success, he stressed that those steps are complete approach to comprehensive reform adopted by the State to achieve stability and development Alaammar.ocd government official in an interview for »morning» said the new strategy aims to carry out a thorough and radical reform to address the imbalance in the structure of the state in economic, security and political aspects, adding it to complete the steps effectively began two months ago. 
He said, that the executive branch proceeded to take measures and decisions to support the private sector and moving the economy and reforms, including facilitating the entry of oil companies by reducing the obstacles and bureaucracy and make it less complex, particularly in relation to the introduction of its material, in parallel with announcing the resolutions issued by the government to facilitate the work of the oil companies and the rehabilitation of state-owned enterprises to overcome the current financial crisis » . And between the government official, and there motionless inside the corridors of the Council of Ministers, in order to involve the international community to support Iraq in its war against terrorism, saying it was an important step that reflects the extent of Iraq's interaction with countries of the region and the world, and his support in the war that led against Daash «He pointed out« the continuation of negotiations The government, represented by the Ministry of Finance, with the Bank and the International Monetary Fund in order to provide soft loans to Iraq, sniffing at the current exchange crisis fears continued to pump oil exports, and diversify the resources that bring the budget next year of the goals of its estimates. According to the official, the presence of international awareness of the size of the wealth possessed by Iraq and diversity, it's abused, who was born with the economic and monetary problems and the implications of waging holy war in defense of the region and the world «. The spokesman, and the existence of efforts and directions of the real with the government, to increase the financial revenues ports of the country, especially in light of receding fears of a cash crisis, economic and processors that have been developed with the continuing oil exports flow significantly from Iraqi ports and across the transport pipeline.

[Officiallytook]

Some of us old timers remember when Kuwait RV'd and they said allot of confusing krap to miss lead everyone just before they really did it so I take everything in stride watch, learn & listen the guru's don't help the matter to me they are all wanna be's so don't let anyone get your under ware in a knot. If you have been in this as long as some of us Dinosaurs have been then you heard it all and you should be numb to it by now. Just relax and hang on the ride isn't over the vertically challenged lady wasn't sang yet.

101

Thanks for those sound words flash...

Whole heartily agree...it will rv just hold on

[tlars brother]

its all good relax

[easy]

its all good relax

Evened you out tlar some people get their panties in a wad over simple posts, narrow minds!

[usndiver]

Exactly what tlar said. Reading these articles, translation, etc. yatayata will drive you nuts.

 

Agreed easy!

[yota691]

Same Subject

An official source: the government adopts a new strategy reforms (details)

Readers Number: 123

•  
•  

  

15-11-2015 03:00 PM

 

 

 

A government official revealed, on Sunday, for the adoption of the government reform strategy that includes taking inter orders and decisions to address the imbalance in the structure of the state's political, economic, financial, administrative and service aspects and the fight against corruption. 

Quoted the official newspaper "Al-Sabah" the official as saying, "The government is moving to adopt a reform strategy that includes take inter orders and decisions to address the imbalance in the structure of the state of political, economic, financial and administrative, service and anti-corruption aspects, "noting that" these steps are complete approach to comprehensive reform adopted by the State to achieve the stability and development of reconstruction. 

"The official added," The new strategy aims to achieve a comprehensive reform and radical to address the imbalance in the structure of the state in economic, security and political aspects, "adding it was" the completion of the steps effectively began two months ago. 

"He said," The executive branch proceeded to take actions and decisions to support the private sector and moving the economy and reforms, including facilitating the entry of oil companies by reducing and bureaucratic obstacles and make it less complex, particularly in relation to the introduction of its material, in parallel with announcing the resolutions issued by the government to facilitate the work of the oil companies and the rehabilitation of state-owned enterprises to overcome the current financial crisis. 

"He noted" the existence of mobility within the corridors of the Council of Ministers, in order to involve the international community to support the Iraq in its war against terrorism, saying it was an important step that reflects the extent of Iraq's interaction with countries of the region and the world, and his support in the war that led against Daash, "stressing" the government continues negotiations represented by the Ministry of Finance, with the Bank and the International Monetary Fund in order to provide soft loans to Iraq, sniffing Monetary concerns the current crisis with the continued pumping of oil exports, and diversify the resources that bring next year's budget estimates of targets. "

[yota691]

11/15/2015 (00:01 pm)   -   the number of readings: 182   -  number (3502)

 

 

IMF: 2016 budget will be adjusted in line with our software

BAGHDAD / Zahraa Hamid 
 

The International Monetary Fund, on Saturday, the head of the Iraqi government, Haider al-Abadi, will adjust next 2016 budget in line with the macroeconomic framework of the program watched by the fund, while between that of the most important of those reforms to approve the draft financial management law and the completion of a survey of local arrears accumulated on the government, and compile a list of bank accounts under its control, and the appointment of auditors of international financial data for Bmsrvi Rafidain and Rasheed, showed lack of support for the devaluation of the dinar.

The head of the IMF mission for Iraq, Christian Jusz, in response to questions from reporter (range Press), "The program, which is monitored by IMF staff pillar is financial framework for Iraq to the end of next 2016," noting that "the Iraqi prime minister, Haydar al-Abadi , amendments will be on the next 2016 budget year and submit it to the House of Representatives in line with the framework of the agreed macroeconomic Under the program, which is watched by IMF experts. 
"He added Jusz, that" the program is watched Fund, requires the Iraqi government's commitment to reforms affecting public financial management of the country, and banking supervision During the remainder of the current 2015 until next 2016, "noting that" the most important that the approval of the draft Administrative Law of Finance, which was sent to the State Council reforms, about in line with the comments of the World Bank and the International Monetary Fund. 
"The President of the Fund mission International Monetary Iraq, that of "other reforms to complete a survey of local arrears accumulated on the Iraqi government, and compile a list of all Government-controlled bank accounts with the Central Bank of Iraq, and government and private banks," pointing out that "the reforms also include the appointment of auditors accounts of international scrutiny of financial statements Private Bmsrvi Rafidain and Rasheed. 
"and whether the International Monetary Fund, was happy with the monetary policy in Iraq, despite the many upon the criticism, said Jusz, that" the Fund shall provide technical assistance to the Iraqi authorities for the implementation of policies related to foreign currency and the removal of restrictions on him. 
"And on the Fund's position reduction of the Iraqi currency value, The head of mission for Iraq, that "the IMF does not support it, because the exchange rate provides a nominal pillar President in an unstable environment to a large extent, having weakened policy capability because of the conflict with Daash." 
In the axis respect to the effects of what detection head the Parliamentary Finance Committee, the late Ahmad Chalabi, and published (range), Jusz said, "The Fund talks with the Iraqi side, did not address those files," adding, "but within the program that pursued by the fund, the Iraqi government will impose fines and penalties management of banks, non-bank financial institutions that provisions and laws do not apply. 
"The Central Bank of Iraq, announced on Thursday (the 12th of November the current 2015), for the imposition of fines close to 400 billion dinars to 40 banks, noting that impose a variety of sanctions on 426 financial institution is a bank, for manipulation auction currency or provide documents is fundamentalism, and the imposition of trusteeship on the four banks, one to the extent of the filter, while has the rehabilitation of two other banks, as well as the imposition of multiple fines close to five billion dinars related to other banking irregularities . 
and the International Monetary Fund, a specialized agency of the Bretton Woods system of the United Nations, was established under an international treaty in 1945, to work on enhancing the safety of the global economy, and is located Fund headquarters in Washington, DC, and managed by its members who include all the countries of the world about their number of 188 countries.

 

[Boozer]

Removal of Restrictions, so does that mean the Dinar can become International currency ? 

[Wiljor]

Going on my second year in this, and again, my profound respect for those that have been here for years. But, I do remember last year around the end of the year, many articles put out that were very confusing and also very similar in content as this year. Many of you have indicated that "we have been down this path before"

We have a very unique scenario here with this potential RV looming on the horizon or it could be years away, nobody knows for sure. As of the last week their has been so many confusing articles come through here its enough to make you dizzy and frustrated.

Facts; 4th largest deposits of Petroleum on the planet, 60 tons of gold in storage, Abadi is cleaning house and getting things in order, Maliki is at the end of his line, 60 billion in foreign currency reserves, Russia, China, US, Canada, ME, and perhaps many other countries wanting to do business with Iraq, IMF, WB, and many others offering financing and so on.

The BIGGEST fact is that they have a currency worth basically nothing. Somehow this picture does not look clear, so much wealth and potential and a currency worth almost nothing.

Iraq still has many issues to overcome yet, corruption, many homeless and poverty stricken do to the war, the on going security situation, the banking and electronic payment systems, agricultural needs, and general infrastructure necessities etc....

The news of late has been masking PERHAPS, what is really taking place, designed to confuse, and throw off the general public. This is no different then what happens with our own news media in our respective countries. I believe IMO, that one day sooner or later the value of the Iraq Dinar will change in our favor, not because I say so, but just the facts that make me believe that we have a unique scenario here. The riches they have and a virtually worthless currency just does not add up YET, but one day it will.

Adam has not come on this site and told everyone to sell their Dinar, we have not seen any real movement one way or the other in its current value,just a lot of mis information on what could happen, although on various currency web sites shows a very small upward trend, and until we have concrete facts or information from the heads of this site I will stay put.

Anyhow my friends this is just my thoughts on this mess and Im in it till the end one way or the other. Have a super Sunday, and as always, Yota very much appreciated.

[SgtFuryUSCZ]

***///

 

Thanks for the synopsis, WILJOR...

That's pretty much it in a nutshell, that's for sure.... sigh.

Will continue to live in Hope, lest we die in despair ! 

[Texstorm]

Thanks Wiljor ! As long as we are alive we have hope ! 

[RVIP]

Smoke...getting real close!

[SnowGlobe7]

smoke em if ya got em!!!!