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12 Oct 2016 Statement by an IMF Mission on Iraq


Adam Montana
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Statement by an IMF Mission on Iraq

October 12, 2016

End-of-Mission press releases include statements of IMF staff teams that convey preliminary findings after a visit to a country. The views expressed in this statement are those of the IMF staff and do not necessarily represent the views of the IMF’s Executive Board. Based on the preliminary findings of this mission, staff will prepare a report that, subject to management approval, will be presented to the IMF's Executive Board for discussion and decision.

  • Iraq has made progress on completing economic reforms under an IMF-supported program

The Iraqi authorities and the staff of the International Monetary Fund (IMF) continued discussions in Washington during October 6–10, 2016 on the first review of Iraq’s 36-month Stand-By Arrangement (SBA) approved by the IMF Executive Board on July 7, 2016 (See Press Release No. 16/321) .

Mr. Christian Josz, Mission Chief for Iraq, issued the following statement:

“The Iraqi authorities have made good progress towards completing the first review of the SBA.

“Once agreed upon additional information has been provided and agreed prior actions have been implemented, the IMF Board will consider the first review of the SBA, likely in November or December.

“During the discussions, the team met with Acting Governor of the Central Bank of Iraq (CBI), Dr. Ali Mohsen Ismail Al-Allaq, Deputy Finance Minister, Dr. Fadhil Nabee Othman, the Financial Adviser to the Prime Minister Dr. Mudher Saleh, and officials from the ministry of finance, the CBI, and a representative from the Kurdistan Regional Government. The team would like to thank the Iraqi authorities for their cooperation and the open and productive discussions.”

http://www.imf.org/en/news/articles/2016/10/12/pr16456-Iraq-statement-by-imf-mission

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This is good news . . . BUT . . . previous & recent [ no more than 7-10 days ago ], articles have stated that the IMF is satisfied Iraq has carried out all the reforms lined out by said 3 letter agency i.e. ready for implementation, yes ? Did not Abadi recently agree with the IMF report etc. and so on ?

Also, wasn't there [recent] approval about the SBA, Iraq met satisfactorily requirements, gaining access to Loans ? This article states, "Agreed prior actions have been implemented" . . . then they're going to review the 1st review ? November/December timeframe. I did not see the Stitches on that Fastball as it went by !

How does this influence the recent Jordan Meeting that Iraq was to get their poop in a group and RV prior to November. WTF !

I knew I should have moved these articles into my file. Now, I can't recall the finer details. Maybe I should light up a fatty and hit Rewind this morning. Anyone ? Just a minor psychotic episode this morning, gang.

If it weren't for my horse, I never would have gone to college. ;) 

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