IMF agreement test for Iraq

[yota691]

Member of the parliamentary finance: IMF required Iraq to impose income tax on employees

 

Tuesday, 24 May 2016 13:12

 

 

 

 

 

 

 

Alsumaria News / Baghdad announced the parliamentary finance committee member Masood Haider, Tuesday, that Iraq is obliged passage of the financial budget bill each year in accordance with the standards of the International Monetary Fund , while noting that the government will impose income tax on staff commitment to the demand of the Fund. Haider said in an interview with Alsumaria News, he said that "Iraq will be obliged to certify financial budget bill each year according to the IMF standards , " noting that "from within the Fund 's conditions on Iraq 's commitment to it, is to reduce expenses 13 trillion dinars and payments to the oil companies, in addition to the issue of the imposition of income tax according to a specific percentage. "   He said Haider that " the income tax levied on the employee currently by deducting a small part of his salary , " pointing out that "no one knows where to go wills , which are deducted from salaries." " The Fund demands that Iraq operation and investment and diversifying the sources of state and the private sector", pointing out that "in general loan fund for Iraq well and at very little benefit and contribute to building Rashid of the Iraqi economy." he agreed the international Monetary Fund and the World Bank and international partners, in the May 19, 2016, to give Iraq a loan of $ 15 billion, an interest rate of 1.5% .

[yota691]

IMF loan gives net win for oil-rich Iraq

IMF last week agreed to the terms of $5.4 billion loan arrangement with Iraq.

 

By Daniel J. Graeber     |   May 24, 2016 at 6:21 AM

 

 

 

 

With a battle for the restive western city of Fallujah ongoing, analysis finds the economy of Iraq secured a much-needed lifeline from the International Monetary Fund. File Photo by Hugo Infante/UPI 

 

LONDON, May 24 (UPI) -- Though a loan agreement with the IMF should help, Iraq will continue to face economic headwinds because of issues in the oil sector, Moody's said.

The Iraqi government and the International Monetary Fund agreed last week on the terms of a $5.4 billion loan arrangement with low interest rates. Moody's Investors Service said in an emailed report the agreement is a net win for Iraq, which is burdened economically by conflict and lower crude oil prices.

"Fiscal consolidation will remain a challenge," the report from Moody's said. "The government's plan to increase oil output is jeopardized by the tight fiscal situation, which led to the buildup of arrears to international oil companies."

Iraq called on international oil companies from BP to Exxon Mobil to cut their investment plans for the country in order to clear debt. This has a spillover affect, however, as it reduces oil-generated revenue in the Iraqi budget, which in turn starves the country of the funds needed to support military operations against the terrorist group calling itself the Islamic State. This week, Iraqi and coalition forces started an offensive on the restive western city of Fallujah in order to recapture it from Islamic State control.

According to the IMF, real gross domestic product in Iraq shrank by 2.1 percent last year in large part because of internal conflicts, which has eroded investor confidence in the country. IMF Mission Chief for Iraq Christian Josz said in a statement the conflict has strained the economy as the country works to cope with the estimated 4 million people affected by regional terrorism.

"The other key challenge is the steep fall in oil prices, causing a large external shock to the balance of payments and budget revenue, which depend predominantly on oil export receipts," he said.

Nevertheless, Moody's finds the overall terms of the agreement to help Iraq manage its finances. Spending pressures could be further alleviated, the report said, if Iraq follows the IMF recommendations to revisit the terms of the contracts it awards to international oil companies.

[Candy01]

10 hours ago, gregp said:

I'm feeling a good credit rating coming on. GM, and thanks Yota. 

Yup, ME TOO!!

[millionaire in training]

11 hours ago, gregp said:

I'm feeling a good credit rating coming on. 

Go Iraq

Go Good Credit Rating

Go Big RV for us......ASAP

Hope Laid Back's not watching me steal his style.............      

[Laid Back]

3 hours ago, millionaire in training said:

Go Iraq

Go Good Credit Rating

Go Big RV for us......ASAP

Hope Laid Back's not watching me steal his style.............      

I'm watching you, millionaire in training. lol

Every piece of the dinar puzzle is falling in place.

I got the feeling something will happen with the dinar between June 2016 and January 2017

 

 

[Wiljor]

3 hours ago, millionaire in training said:

Go Iraq

Go Good Credit Rating

Go Big RV for us......ASAP

Hope Laid Back's not watching me steal his style.............      

Oops, I have to confess, I got over excited with one article a week or so ago and couldn't contain myself  everyone and everything was go go go,  Laidback didn't catch me but the guilt trip has been driving me nuts till now 

'I feel much better nowMas Tequila para todos

[DoD]

LB, I've got a feeling that something will happen to the Dinar by the second week of July...

[yota691]

International loan challenges

 

 

Author: Yasser incumbent 5/25/2016 0:00   Economic center is busy these days the international loan allocated by the World Bank to Iraq after negotiations lasted for quite a few, have been confronted with several loan criticism from various political and parliamentary circles but Maehmna Hnawtava to Restrict this page to see economists. Government adoption of hopes and wide on this loan to overcome the effects of the painful financial crisis faced by the country due to falling oil prices , 'with a number of experts news of this loan was received cautiously so in the belief that lending is another solution.  Legitimate concerns expressed by those in the belief Billabih loan promised loan gray especially the way they announced which did not make clear what are the conditions and demands imposed by the international Monetary Fund about this loan.  economists believe that it is transparent and can not according to his announcement this image analysis and extrapolation of the results and repercussions on the economic reality that I find them any »vision experts» someone who follows and interested economic affairs mission to help decision - makers to direct the right direction loan resources.  therefore , the international loan exposure to the many criticisms at the same time ,many saw it as important to save the country from financial ordeal suffocating, we see in this movement it is important Maabos hope in the possibility of overcoming the crisis experienced by the country provided good use of the loan, and all that was said about the tightening of international and local monitoring of aspects of exchange do not sing observers, meaning that that need requires detection mechanisms and conditions imposed by the international Monetary Fund on Iraq with full transparency so they can be evaluated this loan (Iaawhit, Iaasud)    if it is is essential that the government restore its ability to guide towards the enhancement of its reform program, especially on income diversification away from oil royalties by activating the productive sector and the implementation of the development program launch lending initiative loan resources. Otherwise wasted loan money the country will carry the brunt of the burden of paid and benefits, and thus sentenced Black to the loan, but if the resources directed to activate the productive sector and support growth programs properly , it will be a loan Awhit.lknh to now gray and pending cashed trends to achieve the desired goals.

[Laid Back]

4 hours ago, DoD said:

LB, I've got a feeling that something will happen to the Dinar by the second week of July...

DoD, second week of July works for me.!

 

Brother Wiljor, I'm  watching you too 

 

Edited May 25, 2016 by Laid Back

[yota691]

How much will $15 billion IMF loan really cost Iraq?

 

25 mag 2016

by Redazione

 

 

 

Parliamentars and analysists are worried that the loan can become a new source of corruption and of conditions and dictations on the Iraqi economy by the international powers

Oil field in Iraq (Source: Global Research)

by Omar Sattar – Al Monitor

Rome, 25th of May 2016, Nena News – On May 19, Iraq signed an agreement with the International Monetary Fund (IMF) for a loan for as much as $15 billion over the next three years. Observers are wondering how Iraq will be able to repay the loan and meet the conditions imposed by creditors, which include various countries and the World Bank. One such condition is that Iraq must lift its oil and food subsidies.

The Iraqi Ministry of Finance said the IMF Stand-By Arrangement (SBA) will help Iraq in its battle against the Islamic State (IS) to liberate Iraqi territory, while also helping cut the budget deficit, which is projected at $25 billion, a figure that could worsen because of lower oil prices. The ministry said the loan will not affect government spending on social and health services, but rather it will bring about real financial and economic reform.

Iraq’s previous experience with the IMF doesn’t encourage optimism. In 2004, the IMF imposed aneconomic reform package that required Iraq to privatize some sectors and raise fuel prices in exchange for reducing and rescheduling the country’s Paris Club debt, estimated at $50 billion. Iraq failed to meet those conditions.

Sirhan Ahmed, a member of the parliamentary finance committee, told Al-Monitor the new IMF loan will only make things worse in the long run. “Iraq does not need a loan from the IMF, as this loan will eventually turn into a set of conditions and dictations on the Iraqi economy.Instead of borrowing, the government should have resorted to retrenchment and issuing bonds while earnestly fighting corruption to address the budget deficit.”

Majda al-Tamimi, another finance committee member, told Mawazin News on May 17 that the loan “will lead to corruption.” “The Central Bank’s governor held meetings and negotiations concerning the IMF loan, knowing that he sells $126-$140 million from the state’s treasury funds through currency auctions on a daily basis,” she said, referring to the fact that funds are available, yet the bank’s governor is using Iraqi money in buying and selling operations, not to support the budget deficit.”

Tamimi criticized some ministers for boycotting government meetings. She called for the loan to be canceled, alleging that some political parties said they would only return to parliament in exchange for financial shares on behalf of their constituents.

The IMF loan is also causing new problems between Baghdad and the Kurds. On May 18, Samira al-Moussawi, a member of parliament for the ruling State of Law Coalition, accused Kurdish parliament members of agreeing to return to Baghdad only in return for their party receiving 17% of the loan. However, the Kurdistan Alliance parliamentary bloc, which wasboycotting the parliament after Sadrists stormed the parliament on April 13, rejected the accusation.

“Moussawi is trying to create new problems between Baghdad and the Kurdistan region, and her accusation does not deserve a response, as she is not competent in the field of economy and does not know the details of the agreement that has been signed with the IMF,” Kurdish Alliance representative Ahmed Hama, a finance committee member, told Al-Monitor. “She does not know that the loan is aimed at supporting the general budget and that the [Kurdistan] region has a share in the budget.”

Hama added, “The IMF conditions on Iraq in exchange for the loan favor the government, not the citizen, as these include the removal of subsidies on the ration card, fuel and social welfare in addition to tax increases. Everyone knows this and the government cannot deny it.” But the government does deny that the conditions IMF has imposed will be difficult to meet. Parliamentary parties, however, claim the opposite.

Economic expert Abdul Rahman al-Mashhadani told Al-Monitor that the SBA is similar to the 2004 agreement that Iraq signed but didn’t uphold. “The IMF will help provide the loan to Iraq from several parties: The IMF will provide $830 million; the World Bank, about $5 billion with an interest of 1.5-3%; and the rest will come from other organizations and countries and will be guaranteed by the IMF at an interest rate of 7.5- 8%, provided that Iraq repays the loan and its interest in a very short period of seven years,” Mashhadani said.

“Among the conditions set by the IMF is that the government decrease subsidizing fuel prices and reformulate the budget terms and fund allocations to reduce government spending, especially in the operating budget. A large number of parliamentary blocs have rejected this on the grounds that the budget is a law that should remain untouched,” he added.

The government is facing a predicament, and it has failed to deal with the Iraqi public with transparency and clarity in a bid to end the controversy over the IMF conditions. In 2004, Iraq refused to continue to abide by the IMF’s terms after 2007 because of a hike in oil prices and concerns over the public’s wrath. Iraq consequently lost the confidence of the global market and economic organizations. Now, the current drop in oil prices will force the country to defer to the will of the IMF and face the wrath of citizens, who will have to pay more for fuel, consumer goods and services as the subsidies are lifted.

[Carrello]

The IMF stated in writing that Iraq "will enter the market economy by mid-2016".  

[Wiljor]

y 25, 2016 

On May 19, Iraq signed an agreement with the International Monetary Fund (IMF) for a loan for as much as $15 billion over the next three years. Observers are wondering how Iraq will be able to repay the loan and meet the conditions imposed by creditors, which include various countries and the World Bank. One such condition is that Iraq must lift its oil and food subsidies.
 

The Iraqi Ministry of Finance said the IMF Stand-By Arrangement (SBA) will help Iraq in its battle against the Islamic State (IS) to liberate Iraqi territory, while also helping cut the budget deficit, which is projected at $25 billion, a figure that could worsen because of lower oil prices. The ministry said the loan will not affect government spending on social and health services, but rather it will bring about real financial and economic reform.

 

Iraq's previous experience with the IMF doesn't encourage optimism. In 2004, the IMF imposed an economic reform package that required Iraq to privatize some sectors and raise fuel prices in exchange for reducing and rescheduling the country's Paris Club debt, estimated at $50 billion. Iraq failed to meet those conditions.

 

Sirhan Ahmed, a member of the parliamentary finance committee, told Al-Monitor the new IMF loan will only make things worse in the long run.

 

"Iraq does not need a loan from the IMF, as this loan will eventually turn into a set of conditions and dictations on the Iraqi economy. Instead of borrowing, the government should have resorted to retrenchment and issuing bonds while earnestly fighting corruption to address the budget deficit."

 

Majda al-Tamimi, another finance committee member, told Mawazin News on May 17 that the loan "will lead to corruption."

 

"The Central Bank's governor held meetings and negotiations concerning the IMF loan, knowing that he sells $126-$140 million from the state's treasury funds through currency auctions on a daily basis," she said, referring to the fact that funds are available, yet the bank's governor is using Iraqi money in buying and selling operations, not to support the budget deficit."

 

Tamimi criticized some ministers for boycotting government meetings. She called for the loan to be canceled, alleging that some political parties said they would only return to parliament in exchange for financial shares on behalf of their constituents.

 

The IMF loan is also causing new problems between Baghdad and the Kurds. On May 18, Samira al-Moussawi, a member of parliament for the ruling State of Law Coalition, accused Kurdish parliament members of agreeing to return to Baghdad only in return for their party receiving 17% of the loan. However, the Kurdistan Alliance parliamentary bloc, which was boycotting the parliament after Sadrists stormed the parliament on April 13, rejected the accusation.

 

"Moussawi is trying to create new problems between Baghdad and the Kurdistan region, and her accusation does not deserve a response, as she is not competent in the field of economy and does not know the details of the agreement that has been signed with the IMF," Kurdish Alliance representative Ahmed Hama, a finance committee member, told Al-Monitor. "She does not know that the loan is aimed at supporting the general budget and that the [Kurdistan] region has a share in the budget."

 

Hama added, "The IMF conditions on Iraq in exchange for the loan favor the government, not the citizen, as these include the removal of subsidies on the ration card, fuel and social welfare in addition to tax increases. Everyone knows this and the government cannot deny it."

 

But the government does deny that the conditions IMF has imposed will be difficult to meet. Parliamentary parties, however, claim the opposite.

 

Economic expert Abdul Rahman al-Mashhadani told Al-Monitor that the SBA is similar to the 2004 agreement that Iraq signed but didn't uphold.

 

"The IMF will help provide the loan to Iraq from several parties: The IMF will provide $830 million; the World Bank, about $5 billion with an interest of 1.5-3%; and the rest will come from other organizations and countries and will be guaranteed by the IMF at an interest rate of 7.5- 8%, provided that Iraq repays the loan and its interest in a very short period of seven years," Mashhadani said.

 

"Among the conditions set by the IMF is that the government decrease subsidizing fuel prices and reformulate the budget terms and fund allocations to reduce government spending, especially in the operating budget. A large number of parliamentary blocs have rejected this on the grounds that the budget is a law that should remain untouched," he added.

 

The government is facing a predicament, and it has failed to deal with the Iraqi public with transparency and clarity in a bid to end the controversy over the IMF conditions. In 2004, Iraq refused to continue to abide by the IMF's terms after 2007 because of a hike in oil prices and concerns over the public's wrath. Iraq consequently lost the confidence of the global market and economic organizations. Now, the current drop in oil prices will force the country to defer to the will of the IMF and face the wrath of citizens, who will have to pay more for fuel, consumer goods and services as the subsidies are lifted.

(al-monitor)

 

http://iraqdailyjournal.com/story-z13193887

[SgtFuryUSCZ]

***///

If the IMF told them they cannot have the loans until they behave themselves and clean house,

we may be here a while longer... sigh....

Mama Chrissy LaGarde say's: "You can't have your allowance until you take out the trash...."

 

.

 

[Carrello]

We won't be here any longer than what has been planned out.  The IMF has already authorized the loans for Iraq and has processed the payment schedule.  The loan agreement by both parties is the reason why Moodys and Fitch both revisited Iraq's credit rating.

[yota691]

Parliamentary Economy: World Bank warned Iraq from the fall of the local currency

economy

 Since 26/05/2016 20:19 pm (Baghdad time)

Special - balances News

The Deputy Chairman of the Committee on Economy and Investment parliamentary Harith al-Harthy, Thursday, Iraq warning of the fall of the local currency by the World Bank.

He said Al-Harthy's / balances News /, "The World Bank has given loans to Iraq according to several conditions," noting that "the World Bank warned of the fall of the local currency."

He said the Deputy Chairman of the Parliamentary Economy, said that "according to World Bank studies, the local currency is threatened, but the bank gave some solutions to control it."

MP for the parliamentary Finance Committee Ahmed Sarhan, Tuesday, loans that Iraq obtained from the International Monetary Fund to bridge the shortfall, while noting that oil revenues sufficient to pay staff salaries.

Iraq had signed a contract with the International Monetary Fund to give Iraq a loan for the purpose of reconstruction of the affected areas and rejuvenating the country, ".anthy 29

From: Haidar Almitm

[yota691]

 

World Bank headquarters

Iraq will receive a "financial umbrella" estimated at $ 20 billion and calls for exploited to boost the economy

 

Author: AB, ZJ 
Editor: AB, BK 27.05.2016 15:50 Number of Views: 277 
 

 

Long-Presse / Baghdad

Financial advisor to the Prime Minister, revealed the appearance of Mohammed Saleh, said Friday that the amount of "international financial umbrella" will get Iraq estimated at approximately 20 billion dollars, and in the economic and investment commission in the House of Representatives called for a focus on the extent of the actual need of loans and how to spend to strengthen the national economy , an economist statement difference between Karza Monetary Fund and the World Bank public opinion demanded.

Saleh said in an interview with the (long-Presse), said that "what has been with the International Monetary Fund called the Convention on the Stand-By Arrangements, and will begin working out at the first of next July," adding that "Iraq Siqtrd under five billion and $ 400 million duration allow pay-standing Three years".

Saleh added, "The World Bank will give Iraq a loan of three billion dollars on favorable terms and for a long time to pay," noting that "both the World Bank and the IMF different mechanisms for lending."

He explained the financial advisor to Ebadi, "The total amount of borrowing from the International Monetary Fund and the World Bank is eight billion and $ 400 million," stressing that "the postponement of payments to the Iraqi debt by the Paris Club countries and compensation for the Kuwait war, would bring to Iraq leeway to cope with the current financial pressure."

Saleh continued, that "Iraq Siqtrd nearly five billion dollars, an additional seven industrialized nations (Paris Club), such as Italy, Germany and JICA Japan International Cooperation," pointing out that "the total loans either from the IMF or the World Bank or major industrialized nations, with the postponement of payment of dues of Kuwait and those of the Paris Club, ranging from 19 to 20 billion dollars. "

And Saleh, that "financial parachute total borrowing will be between 19 to 20 billion dollars, and in the shade will be the International Monetary Fund and the World Bank loan as well as receivables that were postponed or will postpone constitute funding Like the borrowing."

Parliamentary economic: most importantly, how to spend the loans to promote the national economy

For his part, Chairman of the Committee on Economy and Investment parliamentary Jawad al-Bolani said in an interview to the (long-Presse), said that "it is important on the subject of the loans is the extent of the actual need for them and how their spending in the areas of service of the development paths and enhance the national economy, not the difference between those who Stkarzha", returned to "partnership between Iraq and the international financial institutions and useful, to be able to keep up with the strategies of the world economy."

Bolani stressed that "Iraq Siqtrdah total of $ 20 billion over the next five years," noting that "the amount would be in batches."

Economist: to be informed of the government and the public on the difference between Karza Monetary Fund and the World Bank

On the other hand, said the economist Ahmed Rehn, said in an interview to the (long-Presse), said that "it is necessary to prepare a clear and concise report that shows the difference between Karza the International Monetary Fund and World Bank, for presentation to the Council of Ministers and published public opinion," noting that "the IMF loan is different higher than that of the World Bank, where each has its specificity and orientations and way of dealing with the lending. "

He added Rehn, that "the IMF lends to governments to repay the deficit in the balance of payments under certain conditions, while be World Bank loans developmental tasks or for the development of specific sectors," adding that "the World Bank does not lend large sums of money, so it should pay attention to it, because the members of the government do not know that unlike the specialists at the Ministry of Finance and the Central Bank. "

And knows the International Monetary Fund on it, 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 based in Washington DC, and managed by its members who include all the countries of the world about their number of 188 countries .

He was the financial advisor to the prime minister, he said in (24 of May 2016), that the priority regardless IMF loan will cover the deficit assignments displaced people and social welfare and the ration card, and set up projects limit unemployment, denying almost categorically any intention to cut marital allowances, while promised parliamentary Finance Committee, that the loan is "a good step" to help Iraq out of the financial crisis and the rationalization of expenditures, calling on the government to bring next year's budget in 2017 to the Fund in accordance with the standards.

The Finance Minister Hoshyar Zebari announced, in (the 19th of May this too), to reach an agreement with the World Bank Fund for a loan worth $ 5.4 billion, while the loan will allow securing additional financial assistance to reach about $ 15 billion during the past the next three, Governor of the Central Bank of Iraq, on the Keywords confirmed that the annual interest of the loan up to 1.5 percent.

Iraq had announced (January 13, 2016), for the approval of the International Monetary Fund to finance the budget deficit through clouds of hard currency reserves, indicating that this means reducing those reserves from $ 59 billion the end of October 2015 the past, to 43 billion during the year Present.

[Carrello]

Thanks, Yota, and Happy Friday!

[Tubbs]

Have a Great Memorial Weekend Dinar Vets !

 

The Boom is coming

 

G   RI     G   RV

[nannab]

Everyone wants to give Iraq loans and some giving grants.

Hi I'm Ms Yadi Yadi Iraqi! I'll take one grant via RV please!

Thanks Tubbs. Hugs and love to all of our warrior heros.

Go enjoy a parade and support our boys and girls.

 

 

[Candy01]

4 hours ago, nannab said:

Everyone wants to give Iraq loans and some giving grants.

Hi I'm Ms Yadi Yadi Iraqi! I'll take one grant via RV please!

Thanks Tubbs. Hugs and love to all of our warrior heros.

Go enjoy a parade and support our boys and girls.

 

 

DITTO!!  Great post, thanks!

 

[Candy01]

7 hours ago, Tubbs said:

Have a Great Memorial Weekend Dinar Vets !

 

The Boom is coming

 

G   RI     G   RV

PRAYING HARD Tubbs!!

[yota691]

Saleh: $ 20 billion in the value of financial umbrella that will get Iraq

Wrote: May 28, 2016

Detecting the appearance of Mohammed Saleh financial advisor to the Prime Minister Haider al-Abadi, that the amount of "international financial umbrella" will get Iraq estimated at approximately $ 20 billion, as called for economic and investment commission in parliament to focus on the extent of the actual need of loans and how to spend to strengthen the national economy, economist called for a statement on the difference between Karza Monetary Fund and the World Bank for international public opinion.

Saleh said in a press statement that "what has been with the International Monetary Fund called the Convention on the Stand-By Arrangements, and will begin working out at the first of next July," adding that "Iraq Siqtrd under five billion and $ 400 million duration allow pay-standing three years."

Saleh added, "The World Bank will give Iraq a loan of three billion dollars on favorable terms and for a long time to pay," noting that "both the World Bank and the IMF different mechanisms for lending."

He explained the financial advisor to Ebadi, "The total amount of borrowing from the International Monetary Fund and the World Bank is eight billion and $ 400 million," stressing that "the postponement of payments to the Iraqi debt by the Paris Club countries and compensation for the Kuwait war, would bring to Iraq leeway to cope with the current financial pressure."

Saleh continued, that "Iraq Siqtrd nearly five billion dollars, an additional seven industrialized nations (Paris Club), such as Italy, Germany and JICA Japan International Cooperation," pointing out that "the total loans either from the IMF or the World Bank or major industrialized nations, with the postponement of payment of dues of Kuwait and those of the Paris Club, ranging from 19 to 20 billion dollars. "

And Saleh, that "financial parachute total borrowing will be between 19 to 20 billion dollars, and in the shade will be the International Monetary Fund and the World Bank loan as well as receivables that were postponed or will postpone constitute funding Like the borrowing."

[magawatt]

Curious about the translation of "in three years" 

Does it mean after three years or over the course of three years?

And how would either impact the timing of dinar revaluation.

 

 

[Synopsis]

57 minutes ago, magawatt said:

Curious about the translation of "in three years" 

Does it mean after three years or over the course of three years?

And how would either impact the timing of dinar revaluation.

 

 

I may be wrong, but it looks like the 5.4 billion USD loan(s) is to be paid back in installments over three years starting July 1, 2016.  Looks like the IMF and WB terms are not the same.

I could not venture a guess on the timing of the dinar revaluation.  However, recent events - especially the granting of the IMF, WB, etc. loans - are likely making it more favorable to revalue the IQD in the not too distant future.  Once the cabinet is established, parliament is stably back in session, reforms are passed, ISIS is exterminated, foreign (not coalition) forces are removed from Iraq, sufficient number of border crossings established (and are all stable), Maliki and associates are indicted and in custody, and the CBI Governor (Dr. Shabibi) is fully instated then I think Iraq is demonstrating a stable and Sovereign State internally.  Once the news articles bear out these conditions favorably, that could be very soon, I am thinking the revaluation is not far off.

[millionaire in training]

21 minutes ago, Synopsis said:

I may be wrong, but it looks like the 5.4 billion USD loan(s) is to be paid back in installments over three years starting July 1, 2016.  Looks like the IMF and WB terms are not the same.

I could not venture a guess on the timing of the dinar revaluation.  However, recent events - especially the granting of the IMF, WB, etc. loans - are likely making it more favorable to revalue the IQD in the not too distant future.  Once the cabinet is established, parliament is stably back in session, reforms are passed, ISIS is exterminated, foreign (not coalition) forces are removed from Iraq, sufficient number of border crossings established (and are all stable), Maliki and associates are indicted and in custody, and the CBI Governor (Dr. Shabibi) is fully instated then I think Iraq is demonstrating a stable and Sovereign State internally.  Once the news articles bear out these conditions favorably, that could be very soon, I am thinking the revaluation is not far off.

Your assessment of what needs to happen before an rv sounds like it could take Iraq a long time time to finalize .    Am I wrong?   I was hoping for June.