IMF agreement test for Iraq

[yota691]

Experts: international loan will not contribute to resolving the financial crisis, but rather to be held

07/10/2016

 

 

BAGHDAD / JD / .. experts and observers see in the financial and economic affairs that the international loan, which will use its Iraq will not be a radical solution to the financial crisis in the country, but that the crisis will be held through the imposition of conditions and increase future debt that will exhaust the financial state as well as the inability of the Iraqi government from taking any decision on the financial management without taking the World Bank and the IMF loan approval.

The Finance Minister Hoshyar Zebari reach Iraq to deal with the International Monetary Fund to give him a financial loan strategically estimated at $ 16 billion, including $ 3 billion to the government of the Kurdistan region, which is considered a loan is important for Iraq to get out of the stifling the country's financial crisis.

She says expert at the Center for Strategic Studies, Mohammed Abdul Jalil, said that after a change of the political system in Iraq in 2003, Iraq plagued by the scourge of external financial debt, including compensation for the Kuwait and loans of the Paris Club and others because of the former regime, the government's policy, which has made the country burdensome financially and could not so far out of sight all debts, noting that the delay in debt repayment will increase the value of profits thanks to those imposed on the debt ratio.

He said Abdul Jalil told / KD / The Iraqi government should think about how to repay the foreign debt before heading to take additional loans from international banks put impossible conditions in order to achieve your financial goals in Iraq, noting that the loan, which would take Iraq from the International Monetary Fund will make the Iraqi government does not have an independent decision on the financial management in the country, but will be the first and last opinion, however, the donor of Iraq, and this is colonization, but indirectly.

He noted that the federal government is considering by the vessels, not a radical and a future financial crisis, noting that this loan will solve the crisis at the present time through the payment of salaries and some operating expenses and the entry into force of that money will return Iraq to square one and enters a very large financial crisis, the lack of effective guarantees return oil prices to rise, as well as the absence of huge development projects in Iraq.

For his part, stressed the economic expert Abdul Hassan al-Shammari, the Iraqi government is able to create a great economic revolution in the country because of Iraq possessed of the ingredients help him with that, pointing out that the industrial sector in Iraq is one of the largest vital sectors, but he still is not enabled form right, as well as other agricultural and tourism sectors, which will increase the state revenues instead of resorting to international loans.

Al-Shammari told / KD / that it needs to be economic visions and development plans under international supervision and control of government in accordance with the mechanism and controls certain determine which projects will be implemented in order to create a massive economic revolution, as happened in some other countries, adding that Iran when it imposed sanctions international resorted to activate the industrial sector to be a major economic resource for the country getting Tehran to not affected by the economic sanctions imposed on it.

He noted that the use of internal and external loans longer prosthesis solutions to cope with the crisis now without thinking about the future of how mastery of those debts.

Iraq is going through a financial crisis due to falling oil prices, which constitutes 90% of the public budget is paid to borrow from the International Monetary Fund and the World Bank and earned them about $ 15 billion received by over three years.

He agreed the International Monetary Fund, to give Iraq a line of credit worth $ 5.34 billion to help it overcome the financial crisis faced after the deterioration of oil prices and the war against terrorism. 

The fund was granted in Baghdad in July 2015 a loan of $ 1.24 billion to help the advancement of the public own finances.Under the rapid financing tool Alsabak.anthy / 8 / program 

[Synopsis]

The article states, "For his part, stressed the economic expert Abdul Hassan al-Shammari, the Iraqi government is able to create a great economic revolution in the country because of Iraq possessed of the ingredients help him with that, pointing out that the industrial sector in Iraq is one of the largest vital sectors, but he still is not enabled form right, as well as other agricultural and tourism sectors, which will increase the state revenues instead of resorting to international loans.

Al-Shammari told / KD / that it needs to be economic visions and development plans under international supervision and control of government in accordance with the mechanism and controls certain determine which projects will be implemented in order to create a massive economic revolution, as happened in some other countries, adding that Iran when it imposed sanctions international resorted to activate the industrial sector to be a major economic resource for the country getting Tehran to not affected by the economic sanctions imposed on it."

Possibly, when the parliament functionally reconvenes, the industrial, agricultural, and tourism sectors will get jump started.  Looks like international supervision and government control (without corruption) can get this going now.  I thought it interesting they referenced Iran and what they did successfully when the international sanctions were imposed on them.

The remainder of July 2016 may be very interesting!

[yota691]

Parliamentary Finance reveal a loan for Iraq, the government did not move it

economy

 Since 11/07/2016 19:19 pm (Baghdad time)

Special - balances News

Revealed the parliamentary finance committee member Ahmed Sarhan, Monday, about the existence of a dedicated loan for ages Middle East countries "respect" of Iraq by the World Bank, the government did not move it.

Ahmed said L / balance News /, "The World Bank allocated for the reconstruction of the Middle East regions of $ 20 billion," stressing that "the government will not move about it until now."

And on the lack of consultation with the Finance Committee by the Ministry of Finance regarding the loans, the ministry considered that "this administrative matter parliamentary committee does not belong."

It is said that Iraq is struggling to get loans from the IMF and the World Bank to cover the budget deficit stroll financial needs after falling prices Alinvt.anthy 29

From: Haidar Almitm

[sandfly]

Thanks 

[DWS112]

Iraq received the first installment of IMF loan - 13/07/2016

Almstcharalaguetsada announced financial and Prime Minister Mzarmohamd favor, Wednesday, Iraq received the first installment of the IMF loan of $ 634 million of the loan of 5.3 Milirdolar amount, indicating that this batch will enter into the gates of the general federal budget for the current year 2016.
Saleh said in a press statement today that Iraq delivered on Tuesday, the first batch of allowance for Iraq from the IMF loan worth $ 634 million, noting that this payment is part of the original loan of $ 5.3 billion and that Iraq will get payments in the coming period .
The Finance Minister Hoshyar Zebari announced at a news conference in the Jordanian capital Amman on 19 May / Maewalmadi signing of a memorandum of understanding with the International Monetary Fund for Iraq gets under which a loan of $ 5.3 billion, and allows him to receive additional financial assistance of up to 15 Milirdolarklal next three years.

[SgtFuryUSCZ]

***///

Sounds like just the amount to support our RV !

Go us...!  Go Iraqi People...!  Go RV....!

 

.

[boosterbglee]

You Ol' Ladies must be loaded! 

[SgtFuryUSCZ]

Just now, boosterbglee said:

You Ol' Ladies must be loaded! 

***///

With pi$$ n' vinegar maybe, BOOSTER honeybee !

We're  'wine-glass- half-full'  kinda Gals when it comes to this here thing ... ! 

With grapes harvested from the vineyards of great expectation and aged in casks of hopium wood !

 

.

 

.

[boosterbglee]

"Hopium Wood"................you Ladies crack me up! 

[SgtFuryUSCZ]

8 minutes ago, boosterbglee said:

"Hopium Wood"................you Ladies crack me up! 

***///

Without a sense of humour to temper our RV angst, we'd be like ===> 

Better to be like this  ====>

Even The Indians didn't kill crazy people !

 

.

[EagleEye]

Just remember this Native American wisdom ladies it matters not if the wine glass is half-full or half-empty the main thing to know is it's refillable

[yota691]

Economic / Iraq received the first installment of the IMF loan of $ 634 million

Wednesday, 10/08/1437 H corresponding to 07/13/2016, SPA

        

Baghdad Shawwal 081 437 H , corresponding to July 13, 2016, SPA 
Iraq took the first installment of the IMF loan of $ 634 million. 
A financial adviser to Iraqi Prime Minister appearance of Mohammed Saleh in a press release today, that batch will enter into the gates of the general federal budget of the country for the year current 2016. 
he explained that this payment is part of the original loan of $ 5.3 billion earned by Iraq during the coming period on payments amount. 
the Finance Minister Hoshyar Zebari said at a news conference in May in Jordan to sign an agreement with the international Monetary Fund gets under which Iraq a loan of $ 5.3 billion, which allowed Iraq to obtain additional financial assistance of up to $ 15 billion over the next three years, while stressing the governor of the Iraqi Central Bank, on the Keywords , who attended the signing of the agreement that the annual interest rate of the loan is up to 1.5%. 
/ / End // 
19:19 ITM 

spa.gov.sa/1518743

[BJinMontreal]

1 hour ago, SgtFuryUSCZ said:

***///

With pi$$ n' vinegar maybe, BOOSTER honeybee !

We're  'wine-glass- half-full'  kinda Gals when it comes to this here thing ... ! 

With grapes harvested from the vineyards of great expectation and aged in casks of hopium wood !

 

.

 

.

Ahhh ...

 

You girls always give me Hopium Wood ...

[SgtFuryUSCZ]

1 hour ago, BJinMontreal said:

Ahhh ...

 

You girls always give me Hopium Wood ...

***///

At your age, are ya sure that ain't DRIFTWOOD...? 

 

2 hours ago, EagleEye said:

Just remember this Native American wisdom ladies it matters not if the wine glass is half-full or half-empty the main thing to know is it's refillable

***///

Wine glass, bota bag, gourd... ALL refillable !

Or in our case -- straight outta the BOX !  Stick a giant straw in the top and it's an adult JUICE BOX !

.

1 hour ago, yota691 said:

Economic / Iraq received the first installment of the IMF loan of $ 634 million

Wednesday, 10/08/1437 H corresponding to 07/13/2016, SPA

        

 

***///

Didn't mean to hijack yer post here, YerYOTAness... we're just giddy that the sum announced here was a figure

actually being bandied about back in the day for this RV resolution business...

 

.

[Wiljor]

Looks like Iraq is getting ready to go international and everybody is on board, getting that loan is a big step forward 

The international community is on board

The WB is on board

The IMF is on board

And for sure DV is more then on board 

Sooooooo lets get'r done Iraq 

[EagleEye]

15 hours ago, SgtFuryUSCZ said:

Or in our case -- straight outta the BOX !  Stick a giant straw in the top and it's an adult JUICE BOX !

ADULT JUICE BOX !!! I like it ...that works !!!...now we just need an emoticon for that !!!

[SnowGlobe7]

[Candy01]

19 hours ago, Wiljor said:

Looks like Iraq is getting ready to go international and everybody is on board, getting that loan is a big step forward 

The international community is on board

The WB is on board

The IMF is on board

And for sure DV is more then on board 

Sooooooo lets get'r done Iraq 

I thought that they had to RV BEFORE they got ANY of the loan money?!  I guess I was WRONG!!

[yota691]

IMF: The Iraqi government will freeze the appointments with the reform of salaries and pricing of electricity

History of edits:: 14/7/2016 21:21 • 112 visits readable

[Oan- follow] the 
Iraqi government said in a note published by the International Monetary Fund on Thursday, "It will be applied to freeze the recruitment policy in most sectors and pension reform [salaries] and charging for electricity in order to increase revenue."

She added that "economic activity for Iraq shrank by 2.4 percent in 2015 , " expected " to grow by 10.3 percent in the current year." 
The government, that "Iraq will cut spending is the oil in the budget of 2016 by 15 percent and Sestdan billions of dollars in light of falling prices oil more than expected. " the 
government said in a letter to the sender of the international Monetary Fund in June to apply for a loan under the demand that it" now expects to reduce the deficit to $ 4.9 billion in 2016 and then to $ 13.2 billion during the the period 2017-2019. " 
she noted that" other sources of funding to fill this year 's deficit may include loans worth more than two billion dollars from the World Bank participate in the guaranteed France, Britain, Canada and loans worth more than three billion dollars from the United States and other lenders. " the 
government also said the Fund international Monetary according to the note that he is committed to "progressive repayment" of receivables overdue for international oil companies by the end of 2016, and estimated the arrears in the past year , billions of dollars. 
agreed with the international Monetary Fund recently on loan demand, allowing Iraq to get first payment of $ 1.9 billion. 
the government plans to withdraw from its foreign exchange reserves over the next few years to help support this funding, and expects that reserves fall to $ 31.5 billion in 2020 from $ 59 billion in October last year.

[yota691]

 IMF: Iraq disrupts appointments and charge for electricity

IMF loans to help Iraq in bridging the fiscal deficit - the image of Reuters Arabian Eye

 faced by the State, it supports the Iraqi balance of payments, expected contribution to improve liquidity.conditional loan for Iraq with the IMF agreement would limit the financial difficulties Commented Moody 's credit rating in a report today about monetary easing to Iraq that the 

The IMF report said Iraq will go to other sources of funding to fill this year's deficit, which may include loans worth more than two billion dollars from the World Bank, may rely on bonds worth billion US dollars to ensure the full and the issuance of international bonds, a similar amount in the last quarter of 2016.

The Fund noted in his report that Iraq faces a double shock, the poor security situation and the sharp drop in world oil prices, the national security is reflected on the non-oil economy, led the decline in oil prices led to a major decline in budget revenues.

The IMF said that the economic reform program of the government included an amendment to several social spending budget items for keeping the lower-income classes as well as the direction of pension reform.

She said a recent memorandum of the International Monetary Fund said Thursday that Iraq managed to get the cash to facilitate worth $ 5.34 billion, after a number of economic reforms.

Direct: International Monetary Fund said that Iraq will go to disrupt the new appointments in most sectors, in addition to imposing new fees on electricity, as part of Iraq 's undertakings gradual repayment of receivables overdue for international oil companies.

 July 14, 2016 18:48

  

[yota691]

Iraq to cut spending in 2016 and owes billions of dollars

economy

 Since 14/07/2016 18:44 pm (Baghdad time)

Baghdad balances News

The Iraqi government announced in a memorandum published by the International Monetary Fund that Iraq will cut spending in the non-oil budget in 2016 by 15% and Sestdan billions of dollars in light of falling oil prices more than expected.

Iraq relies's second-largest oil producer in OPEC crude exports to earn almost all its revenue.

While Iraq is seeking support from donors in the light of the collapse of the global crude oil prices and the high cost of the war to organize "Daash" in.

The Iraqi parliament has approved a 2016 budget amounting to 105.8 trillion Iraqi dinars (about $ 90 billion) deficit of 24 trillion dinars in December / December.

The government said in a speech the sender of the International Monetary Fund for a loan application under the demand that it now expects to reduce the deficit to $ 4.9 billion in 2016 and then to $ 13.2 billion during the period 2017-2019.

The IMF agreed to loan demand in the last week to allow Iraq to get a first payment of $ 1.9 billion.

While Iraq announced that other sources of funding to fill this year's deficit may include loans worth more than $ 2 billion from the World Bank participate in the guaranteed France, Britain, Canada and loans worth more than $ 3 billion from the United States and other lenders.

The authorities will rely on bonds worth one billion US dollars to ensure the full and the issuance of international bonds, a similar amount in the last quarter of 2016.

The last time he sold the Iraq international debt instruments was in 2006, when it issued bonds worth about $ 2.7 billion due in 2028 and Bkopon 5.8%.

The Iraqi government plans to withdraw from its foreign exchange reserves over the next few years to help support this funding.

The government expected that the reserves fall to $ 31.5 billion in 2020 from $ 59 billion in October / October last.

Iraq also said the International Monetary Fund that he was committed to "progressive repayment" of receivables overdue for international oil companies by the end of 2016.

While the government has announced in the note that it will apply the policy of hiring freeze in most sectors and reform of pensions and charging for electricity in order to increase revenues.

She added that while the government of Iraq's economic activity shrank by 2.4% in 2015, but expects to grow by 10.3% in the current year.

is over

M h n

[yota691]

IMF: The Government of Iraq will freeze hiring and salary increases and impose duties on electricity to Aziadh revenue (details)

16-07-2016 04:22 PM    

Hits: 1491

 

Orbit News -

 

 

Publication of the International Monetary Fund memorandum issued by the Iraqi government, which has vowed to "apply the hiring freeze policy in most sectors, and increase pensions (salaries) and charging for electricity in order to increase revenues."

 

The memorandum added that "economic activity for Iraq shrank by 2.4 percent in 2015 , " expected " to grow by 10.3 percent in the current year." 

She pointed out that "Iraq will cut spending is the oil in the budget of 2016 by 15 percent and Sestdan billions of dollars in light of falling prices oil more than expected. " the 

government said in a speech the sender of the international Monetary Fund in June to apply for a loan under the demand that it" now expects to reduce the deficit to $ 4.9 billion in 2016 and then to $ 13.2 billion during the period 2017-2019. " 

she noted that" other sources of funding to fill this year 's deficit may include loans worth more than two billion dollars from the World Bank participate in the guaranteed France, Britain, Canada and loans worth more than three billion dollars from the United States and other lenders. " the 

government also said the international Monetary Fund , according to the note that he is committed to " progressive repayment " receivables overdue for international oil companies by the end of 2016, and estimated the arrears in the past year , billions of dollars. 

agreed with the international Monetary Fund recently on loan demand, allowing Iraq to get first payment of $ 1.9 billion. the 

government plans to withdraw from its foreign exchange reserves over the next few years . to help support this funding, and expects that reserves fall to $ 31.5 billion in 2020 from $ 59 billion in October last year.

 

 

[yota691]

Parliamentary Committee on Finance confirms the weakness of the negative situation that accompanies the World Bank loan

Sun, 17 Jul 2016 09:51:19

 

 

 

 Views: 63

 

Observer news / Baghdad Finance Committee confirmed that the negative situation that accompany the international loan and the $ 16 billion is not a high level which, while noting that the country need money because of the inability of winning in the budget of 2016. Committee member Sirhan Ahmed "said that the country suffers from a deficit of 24 trillion Iraqi dinars , and he can not state institutions continue to operate under this deficit, noting that he does not need to resort to a loan to deal with the deficit and the shortfall in the general budget for 2016. he said: Iraq received $ 600 million meal first of the total funds amounting to 5 billion and $ 430 million, citing the need to exploit the international loan in the development of the Iraqi economy and distracted within the channels that serve the Iraqi people. He continued: there is fear of going that money into the pockets of corrupt, pointing out that imposed interest on the loan amounting to 0,0,5% no very little increase may not hurt the Iraqi people. It is said that Iraq 's negotiations with the international Monetary resulted, for a loan of $ 16 billion. he said the Finance Committee member Jabbar Abdul Khaliq, said : "this loan is supported by the international Monetary Iraq 's economic and financial institution and in support of the position Iraq in future negotiations with the international institutions. " the Iraqi team led by Finance Minister, Hoshyar Zebari held talks in Jordan with representatives from the international Monetary Fund. 

[yota691]

Saleh: the agreement with the IMF «financial protection for Iraq}

 

 

7/17/2016 0:00   Baghdad , Alaa al - Taie  Economic Adviser to the Prime Minister, the appearance of Mohammed Saleh, about the deal with the International Monetary Fund as a «financial protection for Iraq» and expressed optimism about the improvement in the credit and financial viability of Iraq by the surge in Iraq 's international value of the bonds that created until 2028, amounting to$ 2.7 billion revealed , particularly after the IMF approved a loan worth $ 5.3 billion.  Saleh said in an interview for «morning»: the Iraqi government agreement with the IMF was born financial protection from multilateral international financial institution of the country, pointing to the existence created bonds in 2028 worth 2.7 billion dollar rises credit rating her, and trading of Sindh in global markets with rising among gets the opposite in the case of low value.  He stressed the benefit of , at the height of the international value of the bonds to Iraq indicator of the capabilities of the national economy and positive on the possibility of fulfilling the debts of the country and earned creditworthy.  downplayed economic adviser, fears the introduction of Iraq 's debt in the future, stemming from the agreement with the IMF, he said , «it soft loan does not carry very high interest rates as it fears does not deny is that the country is in a fierce war will determine the future of Iraq and its people , which is going through financial hardship and the thesis came to the rescue situation in the country because we are facing asocial dilemma, and the poverty rate of 23 percent, as well as nearly four million displaced, in addition to cities smashed and put social, economic, military and security requires international support to get out of the ordeal ».  Saleh said, that among the terms of the agreement with the Fund, is control of Iraq 's ability to pay its indebtedness and help him in this matter, stressing that the country 's standing in the «honest point of debt» there are exaggerations about the large number of indebtedness, noting that the exact calculations and recognized by the government do not include debt that was granted to Iraq under the former regime and the so- called debt Albgazh for it resulting from the aid provided to the former regime of the Iran - Iraq war and is still stuck and there are discussions about them.  Saleh revealed, for the whole of the current Iraq 's debt according to the agreement of the Paris Club in 2004 and recognized by the government of ($ 17 billion) begin repayment as of the year 2020 and up 2028 , adding that 17 billion dollars is out of $ 125 billion, confirming determine how Iraq more than $ 100 billion of that debt any reduced by 80 percent , according to the agreement of the Paris Club in 2004 «.  He added that the debt rescheduled in accordance with the Convention on the above, followed by Iraq has begun to pay the annual interest but repaid starts from 2020 to 2028 in the form of successive payments that are mostly sovereign debt government return some of the countries of the Paris Club of around $ 9 billion, and the debt of a sovereign government about $ 6 billion and 2.7 billion in bonds back to the private sector collectively worth 17 billion dollars and represent 20 percent of the Paris Club debt , which reduced to 80 percent of Iraq ».

[yota691]

Iraq received $ 600 million from the International Fund for the first loan installment

economy

 Since 07.17.2016 at 10:01 (Baghdad time)

Special scales News

A commission of parliamentary economy and investment, Sunday, that Iraq will receive the first $ 600 million of the IMF loan as a down payment in the next few days.

He said committee member Rep. Najiba Najib, L / balance News /, that "Iraq will receive the first $ 600 million of the IMF loan as a down payment, in the next few days."

Najiba said, that "this amount represents the first installment of a total 5 billions and $ 400 million of the loan agreed with the IMF."

He pointed to a committee member, said: "This represents a boost in 2016, which will be an average of two billion, and will be in the form of meals and premiums."

It is said that the International Monetary Fund, World Bank and international partners have agreed, in the (May 19, 2016), to give Iraq a loan of $ 15 billion at an interest rate of 1.5%, the loan would be dedicated to cover the deficit in the budget Alathadah.anthy

From: Inam Amaury