The IMF salvaging Iraq? Not exactly

[DinarThug]

CNN. Broadcasting While Putting A Gold Star On Saleh's Forehead !

 

 

Saleh: Iraq has implemented all the conditions of the International Monetary Fund!

Last updated: September 15, 2016 - 12:00

 BAGHDAD / News Network Iraq declared Prime Minister adviser on fiscal policies, the appearance of Mohammed Saleh on Thursday, for an end to Iraq 's own commitments first phase of the Stand -By agreement with the International Monetary Fund of several stages include 13 commitment by which it agreed to grant Iraq a financial loan $ 5.3 billion.  
concluded Iraq and the international Monetary Fund in May / May last deal after meeting for several days held in the Jordanian capital Amman to grant Iraq a financial loan of 5.3 billion dollars with an interest rate of up to 1.5%, acknowledges Iraq share an initial value of $ 634 million in July / last June .
  the adviser said the Iraqi prime minister for financial policy , the appearance of Mohammed Saleh, in a press statement today : " the first phase of the standby credit agreement with the international Monetary Fund included several reform requirements of the Iraqi economy , and performance standards , and financial management reform, reform some laws , procedures for restructuring the general budget , and maintain the central bank's reserves, all of Iraq's commitment to them . "  Saleh added that" the willingness of credit with the international Monetary Fund by which it agreed to grant Iraq a financial loan of $ 5.3 billion agreement, includes 13 consultation or obligation , Iraq and the international Monetary Fund , they finished the first review, there will be future revisions in early October in Washington . "  
Iraq 's chief financial officer , and continued that" after each audit is released part of a financial loan to Iraq in accordance with the agreement , and we expect that Iraq has received the second installment of the financial loan next month (without revealing its value) . "
  for his part, expressed the international Monetary Fund, on Wednesday, thanked the Iraqi authorities to" good cooperation with him and discussions frank and fruitful during the first review of the agreement to prepare the credit , which has in the Jordanian capital Amman recent meetings . "
The   Iraqi government acknowledged the end of last month, the country 's budget for next year by 102 trillion dinars (about US $ 85 billion), to begin a new phase of internal and external negotiations may be more complicated on how to secure the fiscal deficit which stood at 30% of the total budget.

 

link
  

Saleh: Iraq has implemented all IMF conditions !!
September 15, 2016
Prime Minister for Financial Policy Advisor "appearance of Mohammed Saleh," on Thursday, announced an end to Iraq's own commitments first phase of the Stand-By agreement with the International Monetary Fund of several stages include (13) a commitment by which it agreed to give Iraq a financial loan ( 5.3) billion dollars.

As Iraq concluded and the IMF in May an agreement after meeting for several days held in the Jordanian capital Amman to grant Iraq a financial loan of 5.3 billion dollars with an interest rate of up to 1.5%, acknowledges Iraq share an initial value of (634) in June million the past.

Iraqi Prime Minister adviser on fiscal policies "favor," he said, in a press statement to him: The first phase of the standby credit with the IMF agreement included several reform requirements of the Iraqi economy, and performance standards, and financial management reform, reform of some laws, procedures for restructuring the general budget, and maintain the central bank's reserves, all of which are committed by Iraq.

The "fit" to prepare the credit agreement with the International Monetary Fund by which it agreed to grant Iraq a financial loan of 5.3 billion dollars, including 13 consultation or obligation, Iraq and the International Monetary Fund, they finished the first review, there will be future revisions in beginning next October in Washington.

In the same context Iraqi financial official went on to say that after each audit is released part of a financial loan to Iraq in accordance with the agreement, and we expect that Iraq has received the second installment of the financial loan next month (without revealing its value).

For his part, expressed the IMF On his part, on Wednesday, thanked the Iraqi authorities on the good cooperation and discussions with frank and fruitful during the first review of the Stand-By agreement, which has in the Jordanian capital Amman recent meetings.

Notably, the Iraqi government approved the end of last month, the next year the country's budget by 102 trillion dinars (about 85) billion dollars, to begin a new phase of internal negotiations and external may be more complicated on how to secure the fiscal deficit which stood at 30% of the total the budget.
http://www.al-mawqif.com/18736  

First Published: 2016-09-15

Iraq end the first review of the IMF loan agreement

The first phase of the agreement included several requirements along the lines of the reform of financial management and some of the laws and procedures of restructuring the general budget and maintain the central bank's reserves.

BAGHDAD - An Iraqi official announced on Wednesday his country's completion of the first phase commitments from the standby credit agreement with the International Monetary Fund of several stages including 13 which have been committed to the agreement to grant Iraq a financial loan of $ 5.3 billion.

Iraq won the International Monetary Fund in May / May an agreement after meeting for several days held in the Jordanian capital Amman to grant Iraq a financial loan of 5.3 billion dollars with an interest rate of up to 1.5 percent and handed Iraq a share initially valued at $ 634 million in July.

He said the appearance of Mohammed Saleh, the Iraqi prime minister for financial policy adviser, said that "the first stage of readiness credit with the International Monetary Fund agreement included several reform requirements of the Iraqi economy, and performance standards, and financial management reform, reform of some laws, procedures for restructuring the general budget, keep the Central Bank reserves, all of Iraq's commitment to them. "

Saleh added that "the willingness of credit with the International Monetary Fund by which it agreed to grant Iraq a financial loan of $ 5.3 billion agreement, includes 13 consultation or obligation, Iraq and the International Monetary Fund, they finished the first review, there will be future revisions in early October / October next in Washington. "

Iraq's chief financial officer, said that "after each audit is released part of a financial loan to Iraq in accordance with the agreement, and we expect that Iraq has received the second installment of the financial loan next month," without disclosing the value.

For his part, expressed the IMF thanked the Iraqi authorities to "good cooperation" with him and discussions "frank and fruitful", during the first review of the Stand-By agreement, which has in the Jordanian capital Amman recent meetings.

He said Christian nut, head of the IMF mission to Iraq, in a statement, "the Iraqi authorities and experts Fund fought the discussions on the first review of the agreement to prepare the credit framework will continue during the upcoming annual meetings of IMF and World Bank held in Washington, DC, for the period from the seventh to the ninth of October (October I) in 2016 ".

The Iraqi government acknowledged the end of last month, the country's budget for next year by 102 trillion dinars (about US $ 85 billion), to begin a new phase of internal and external negotiations may be more complicated on how to secure the fiscal deficit which stood at 30 percent of the total budget

http://www.middle-east-online......?id=232610

 

[10 YEARS LATER]

Holy Crap Thug Man ! ! ! This guy better not just be whistling Dixie ! ! ! Tease me with a GOOD time, why don't ya.

[Candy01]

12 minutes ago, 10 YEARS LATER said:

Holy Crap Thug Man ! ! ! This guy better not just be whistling Dixie ! ! ! Tease me with a GOOD time, why don't ya.

[Laid Back]

Time to apply the new monetary policy 

Let the dinar go international 

Go IMF 

Go CBI 

Go dinar

Go new monetary policy 

[nannab]

YEAH GOOD TIME 10 YEARS !!! LET HER RIP FELLA  !!!!!!!!!!!!!!!!!!!!!!!!!!!

[jg1]

Bump

[Gypsygirl11]

Well, at least they made it through the first phase!   Lets see what October brings.  

[SynTurf]

Not only have they implemented all IMF conditions which were scheduled for 2016, they are already chiseling away at some of the 2017 milestones set by the IMF.

[Freedomwish]

On 9/15/2016 at 5:51 PM, Gypsygirl11 said:

Well, at least they made it through the first phase!   Lets see what October brings.  

October is looking to be the month of great things to happen in history!!  Keeping the faith!! 

[Candy01]

32 minutes ago, Freedomwish said:

October is looking to be the month of great things to happen in history!!  Keeping the faith!! 

[10 YEARS LATER]

7 minutes ago, Candy01 said:

I'm praying right alongside you  that October will be "THE MONTH"

[yota691]

Parliamentary showing financial support for the IMF conditions

 

 

Economy News / Baghdad Finance Committee in the House of Representatives expressed, on Saturday, its support to the conditions imposed by the IMF on Iraq in return for lending, and demanded that the Prime Minister Haider al-Abadi as "bold positions to resolve the corrupt file", as economists asserted that Iraq faces " a real dilemma, "because of the" lack of maturity "economic might obliged to accept the conditions of the IMF, warned against the imposition of the final conditions" most unfair "in the absence of Iraq's commitment. She said the Parliamentary Finance Committee member Majida al-Tamimi, in an interview I followed the "Economy News", "International Monetary Fund request from Iraq as part of recent discussions additional cuts expenditures and the fight against corruption and activating the economic sectors", expressing its support for "the International Fund demands." Tamimi stressed the need to "include cuts unnecessary spending of the state, and that does not affect employees and retirees, or the life of the salaries of citizens", calling for "the resolution of thousands of files of corruption in the Integrity and Accountability spoilers."She Tamimi surprise of "spending three million and 799 thousand dollars to hire a private aircraft, during the last quarter of the year 2014 and over the past year in 2015, as well as the expenditure of funds and other money on Aivadat officials, in spite of the serious consequences of falling oil prices and the war against al (Daesh) ", Prime Minister Haider al-Abadi required to" be more aggressive in resolving the corrupt files, especially since he knows very well the defect points and the size of the waste of public money, since he held the presidency of the Finance Committee in the House of Representatives economic and kissed her. " For his part, economist Anton spokesman, said that "a number of recommendations and conditions placed when he agreed to lend Iraq, including a review of public budgets of the state and the actions taken to rationalize spending and anti-corruption International Monetary Fund." Anton said that "the International Monetary Fund found that some of the recommendations have not been applied properly, what could herald its objection and perhaps his lack of loan," stressing that "Iraq is still in front of a big problem not addressed so far, is mono-economy and the continued decline in global oil prices, which may be obliged to accept the terms of the international Monetary Fund despite the prejudice of some of those conditions. " He Anton that "Iraq faces a real dilemma has compelled him to make other concessions paid for the Iraqi people, which forms the basis of the victim's austerity and loans," attributing the reason to "financial mismanagement of the government and the dominance of the ruling parties on the financial file, in addition to rampant corruption and lack of activating the private sector." . It is noteworthy that the Jordanian capital Amman witnessed, on Saturday (September 10 2016), the conclusion of the first review of the Convention on standby credit with the representatives of Iraq and the mission of the International Monetary Fund to supplement the IMF loan negotiations during the current year 2016 has been delivered to Iraq before mid-July 2016, about 634 million, the first installment of the IMF loan account immediately after the IMF Executive Board approval, in (the seventh of this month), on the standby credit agreement with Iraq, noting that the loan term is five years, annual interest rate low of one and a half percent (1.5% ), and that the number of payments is 13 batch stretches over 36 months. The United States confirmed, in (the twentieth of April 2016), that the economic reforms the Iraqi government began to show the effects of an increase of non-oil imports, indicating that the Iraqi government's success in reducing the budget deficit means obtaining a loan from the International Monetary Fund worth billions of dollars.AJ
Views : 258   Date Added 09/18/2016 - 10:32   Last updated 18/09/2016 - 14:07   No. Content 5135

[Candy01]

17 hours ago, 10 YEARS LATER said:

I'm praying right alongside you  that October will be "THE MONTH"

YES!!

[yota691]

Iraq held an agreement with the IMF to lend about $ 15 billion  27/09/2016 22:53  BAGHDAD / tomorrow Press: A source from within the government, on Tuesday, held for Iraq's agreement with the International Monetary Fund, noting that it will send to the House of Representatives in order to legally vaccinated.  The source for "tomorrow's Press," that "Iraq has an agreement with the International Monetary Fund Baqradh spend about $ 15 billion, as well as agreement on the spending of those funds."  He added that "the government is trying to frame that Convention legitimately and legally so that it can not be tampered with in the future, because it is an international agreement and the terms and mechanisms that must be followed." The source indicated that "the right of the House of Representatives and the study of the bill, which concerns the Convention and conditions thoroughly and put behind him as possible and discuss and come up with results serve the citizen first and foremost."

[SocalDinar]

Political instability in Baghdad may delay Iraq’s IMF bailout

 

September 28, 2016 at 5:21 pm | Published in: International Organisations, Iraq, Middle East, News

International Monetary Fund (IMF)

 

September 28, 2016 at 5:21 pm

1 SHARES

Share to FacebookShare to TwitterShare to Google+Share to RedditShare to Email

Iraq’s International Monetary Fund (IMF) bailout has been put at risk following last week’s dismissal of its Finance Minister Hoshiyar Zebari.

With Zebari’s dismissal the Baghdad government has lost the figure most closely associated with the deal, which puts into jeopardy many of the plans and economic reforms that was agreed in exchange for the $5.34 billion bailout.

The IMF had approved a three-year, $5.34 billion standby loan in July, in exchange for a package of economic reforms. Baghdad is hoping it will unlock more than $12 billion in additional aid from sources such as the World Bank and the Group of Seven leading industrialised nations.

An initial tranche of $640 million was loaned in July but the next tranche of equal value depends on a first review. That could happen as early as mid-November but may be delayed while Iraq gets its house in order.

Zebari’s dismissal is another reminder of Baghdad’s political instability, a situation that risks delaying billions of dollars in badly needed budget support from international lenders and investors.

A prominent Kurdish official, Zebari has previously served as foreign minister for more than a decade. He was dismissed after questioning over alleged corruption and mishandling of public funds.

He denied the charges as “vengeful, politicised and short-sighted”, accusing former Prime Minister Nouri Al-Maliki of orchestrating his ouster in a bid to topple the government of Prime Minister Haider Al-Abadi.

The next IMF meeting will be a “crux point”, said a Western diplomat in Baghdad who closely monitors Iraq’s economic affairs, reported Reuters.

“Can they get themselves back in order and deliver things by then? If I were to put a bet on it, I would say it would be delayed at the very least but it probably will just be a delay.”
https://www.middleeastmonitor.com/20160928-political-instability-in-baghdad-may-delay-iraqs-imf-bailout/

[Synopsis]

The article states, "With Zebari’s dismissal the Baghdad government has lost the figure most closely associated with the deal, which puts into jeopardy many of the plans and economic reforms that was agreed in exchange for the $5.34 billion bailout.

In my opinion, this is a scare tactic and a lever external PTBs are using to get a qualified replacement for Zebari and ram the remaining obligations through - PRONTO!

I suspect the upcoming news articles will be interesting to see where the hammer(s) drop for seemingly unrelated reasons.  Barzani may even be a precursor to upcoming events.

Hopefully, there is a huge sledge hammer about to make Maliki and cohorts a little grease spot(s).  That'll fix the problem!

This may have been a previously orchestrated play of events since the article also states, "The next IMF meeting will be a “crux point”, said a Western diplomat in Baghdad who closely monitors Iraq’s economic affairs, reportedReuters.

“Can they get themselves back in order and deliver things by then? If I were to put a bet on it, I would say it would be delayed at the very least but it probably will just be a delay.”"

Veiled threat (you better do what we agreed, Iraq, OR ELSE)?

[10 YEARS LATER]

Looks like Heavy Smoke these days  - Zebari"s dismissal is going to throw a Monkey Wrench into the Whole Shebang ? I think not; the sky is not falling !

If that were the case, then Iraq has much deeper issues than anyone ever thought possible. The waters are going to get muddier than the Amazon in the Monsoon season to conceal the real deal here. I've got my waders !

The   is about to get real deep folks. 

[ChuckFinley]

The sky is falling. Time for me to sell my dinar for the USD. This country will not see the New Year.  That is some heavy smoke. 

[blueskyline]

Thank You Socal ... Pardon me while I go do some cursing out in the backyard .

[Laid Back]

IMF granted full support to Iraq.

No matters who is the finance minister

iraq is moving forward like never before..

Go iraq

Go IMF 

Go loans

[sandfly]

THANKS YEP LB

[yota691]

International Monetary Fund

IMF to continue talks with Iraq and is likely to complete his reform agenda through the years

 

Author: AB, ZJ 
Editor: AB, BK, HH 01.10.2016 13:16Number of Views: 36 
 

 

 

Long-Presse / Baghdad

Assured the International Monetary Fund on Saturday, continuing his talks with Iraq despite the sacking of Finance Minister Hoshyar Zebari, and pointed out that its agreements "signed with states and not individuals," with the exception of the adoption of Iraq's economic reform program "is essential" to the success of the fund, which will be implemented program several years.

The head of the International Monetary Fund's mission in Iraq, Christian nut, in an interview with (long-Presse), "The Finance Minister, Hoshyar Zebari, has been a champion of the program to prepare the credit with the Fund, as it was a major engine of reform in Iraq," stressing that "the Fund's programs and its agreements are held with states rather than individuals, which means to continue talks with Zebari, who will succeed in the Iraqi Ministry of Finance. "

He coconut, that "the adoption of the Iraqi authorities, a program of economic reform is essential for the success of the Fund program (CNN NBA), which will be implemented over several years," and expressed his hope that "Iraq maintains the momentum of the program and be the first revision to him during the mission meetings with the Iraqi authorities ".

The House of Representatives voted during its meeting, which was held in the (22 September 2016), to withdraw confidence from the finance minister, Hoshyar Zebari, after 27 days of interrogation session, and adopted the "secret ballot", the same mechanism that the withdrawal of confidence which the Minister defense, Khalid al-Obeidi during August.

And on the recommendations of the Fund for Iraq, he confirmed the coconut, the "Stand-By program that includes periodic reviews, which has identified goals and expectations," adding, "but can be modified during the periodic reviews by developments on the ground."

Iraq had happened in July 2015, a boost equivalent to about one billion and 240 million dollars, through the "rapid financing" of the Tool Box.

Iraq and delivered by mid-July 2016, about $ 634 million, representing the first installment of the IMF loan, immediately after the IMF Executive Board approval, in (the seventh of this month), on the standby credit agreement with Iraq, noting that the term of the loan is five years low annual interest rate of one and a half percent (1.5%), and that the number of payments is 13 batch stretches over 36 months.

It is noteworthy that Iraq has agreed with the International Monetary Fund and World Bank to provide financial umbrella him up to $ 20 billion, to overcome the financial crisis as a result of the sharp decline in oil prices and the war against (Daesh).

[yota691]

IMF confirms the continuation of talks with Iraq

 

 

Economy News ....   Assured the International Monetary Fund on Saturday, continuing his talks with Iraq despite the sacking of Finance Minister Hoshyar Zebari, noting that its agreements are concluded with States and not with the people, stressing the need for Iraq to adopt a program of economic reform. The head of the IMF mission in Iraq, Christian nut, in a press statement on Saturday, that the Fund would continue talks with Zebari Wazziralve succeed in the Iraqi Ministry of Finance. The Iraqi Council of Representatives recently voted to withdraw confidence from Zebari, after being questioned.
Views 68   Date Added 10/01/2016 - 15:28   Last updated 10/01/2016 - 17:32   No. Content 5250

[MyLadiesDaddy]

2 hours ago, yota691 said:

IMF confirms the continuation of talks with Iraq

 

 

Economy News ....   Assured the International Monetary Fund on Saturday, continuing his talks with Iraq despite the sacking of Finance Minister Hoshyar Zebari, noting that its agreements are concluded with States and not with the people, stressing the need for Iraq to adopt a program of economic reform. The head of the IMF mission in Iraq, Christian nut, in a press statement on Saturday, that the Fund would continue talks with Zebari Wazziralve succeed in the Iraqi Ministry of Finance. The Iraqi Council of Representatives recently voted to withdraw confidence from Zebari, after being questioned.
Views 68   Date Added 10/01/2016 - 15:28   Last updated 10/01/2016 - 17:32   No. Content 5250

 And furthermore, as head of the IMF mission in Iraq, I would like to add to my aforementioned statement that tomorrow Iraq will be giving more purchasing power to the people by increasing the value of the dinar to $1.18  

[Candy01]

1 hour ago, ladyGrace'sDaddy said:

 And furthermore, as head of the IMF mission in Iraq, I would like to add to my aforementioned statement that tomorrow Iraq will be giving more purchasing power to the people by increasing the value of the dinar to $1.18