Finance Committee: $ 70 billion cost of war and reconstruction of the liberated areas

[yota691]

05-04-2017 09:23 AM

The government agrees with the World Bank and the International Monetary Fund to borrow about $ 18 billion to close the budget deficit in 2017

 

 

 

Parliamentary Finance Committee revealed on Wednesday, the government 's agreement with the World Bank and the International Monetary Fund to borrow about $ 18 billion to bridge the fiscal deficit in the budget of 2017, noting that Iraq has not benefited from the increase in world oil prices because of the continuing financial and administrative corruption. 

The committee member said Ahmed Sarhan Sarhan said ' the government agreed with the World Bank and the International Monetary Fund to borrow about $ 18 billion to fill the fiscal deficit in the current year 's budget.' 

Sarhan added that ' the budget approved by parliament include an item of government borrowing by donors to bridge the fiscal deficit.' 

He continued that "Iraq has not benefited from the increase in world oil prices because of the continuing financial and administrative corruption and disbursement of funds is thoughtful '.

[yota691]

Iraq borrowed $ 18 billion to cover the deficit

Written by Economic news editor

Date: April 5, 2017

 

 

BAGHDAD / NeniraQ

Revealed Parliamentary Finance Committee member Ahmed Sarhan Sarhan government agreement with the World Bank and the International Monetary Fund to borrow about $ 18 billion to bridge the fiscal deficit in the budget of 2017.

Sarhan said, according to a press statement vassal "NeniraQ" The government has agreed with the World Bank and the International Monetary Fund to borrow about $ 18 billion to fill the fiscal deficit in the current year's budget. "

Sarhan said that "the budget approved by parliament, includes an item of government borrowing by donors to bridge the fiscal deficit."

He added that "Iraq has not benefited from the increase in world oil prices because of the continuing financial and administrative corruption and disbursement of funds is thoughtful."

[235snack]

Then fix it, start cutting off hands for corruption.....do something to stop the money from flowing out.  Getting another loan is not going to do any good if it is going to be stolen!

[yota691]

14 minutes ago, 235snack said:

do something to stop the money from flowing out

They are, this is just a start on what been published

[235snack]

Thanks yota691

[Boozer]

Would you not stop corruption first.

[Officiallytook]

 

[10 YEARS LATER]

Iraq said they weren't taking any more loans- WTF

Their word means nothing . . . And why the loan if you're out off Ch. 7 in 2 months?????

have we just been handed a bogus bill of goods ?

[Synopsis]

1 hour ago, 10 YEARS LATER said:

Iraq said they weren't taking any more loans- WTF

Their word means nothing . . . And why the loan if you're out off Ch. 7 in 2 months?????

have we just been handed a bogus bill of goods ?

My opinion, this is old recycled news. A while back, Iraq was given an 18 billion dollar loan (this seemed to be granted suddenly) with 9 billion to pay off reparations to Kuwait over the 1990 Iraqi invasion. My understanding is the associated sanctions have now been lifted with the 9 billion dollar payment.

As we get closer to the main event, I think we will see news like we are on a roller coaster hitting a barrel roll one way and then a cork screw the other way. At some point, I may just forget about looking at these articles for a few days or couple weeks since they may be older, opinion pieces, or previously constructed and issued to create a sense of "Iraq is all over the place" like an attention deficit disorder adolescent high on sugar and caffeine.

I think this is all cover for a much more direct and secure plan being executed - possibly sprinkled in all the indiscernibly current news articles or portions thereof.

In the mean time...................

Go Moola Nova!

[tigergorzow]

Yota Thanks,  DV,  Syn...Agree,  We are closing in on the last of the "Big Plan" to bring Iraq back to the International Stage so stay focused on the "Big Prize" because delay delay is no longer an option for Iraq.   Jared Kushner's visit was not all about "Liberation Of Mosul" but they dare not share with at the moment but sooner or later they must release the IQD's real value.

 

GO RV / RI

[Synopsis]

3 minutes ago, tigergorzow said:

Yota Thanks,  DV,  Syn...Agree,  We are closing in on the last of the "Big Plan" to bring Iraq back to the International Stage so stay focused on the "Big Prize" because delay delay is no longer an option for Iraq.   Jared Kushner's visit was not all about "Liberation Of Mosul" but they dare not share with at the moment but sooner or later they must release the IQD's real value.

 

GO RV / RI

I agree, TigerGorZow!

The elusive IQD real value can not hide much longer!

Go Moola Nova!

[sandfly]

Thanks yota 

[Wiljor]

"As we get closer to the main event, I think we will see news like we are on a roller coaster hitting a barrel roll one way and then a cork screw the other way."

Bingo Syn, that is exactly what's is taking place, good eye bother. 

[Synopsis]

4 hours ago, Wiljor said:

"As we get closer to the main event, I think we will see news like we are on a roller coaster hitting a barrel roll one way and then a cork screw the other way."

Bingo Syn, that is exactly what's is taking place, good eye bother. 

With the ISIS leaders bailing out of Mosul, the ride may get even faster! At least it will roll into the station sooner!

Top of the Morning to you, Wiljor!

[Wiljor]

5 hours ago, Synopsis said:

With the ISIS leaders bailing out of Mosul, the ride may get even faster! At least it will roll into the station sooner!

Top of the Morning to you, Wiljor!

[unirod]

This is why the W/B and the IMF are corrupt and poorly managed institutions themselves! they are willing to loan $18 BILLION$$$ to another corrupt institution the GOI! So they must know something that the masses don't know?

[blueskyline]

To borrow ((((((( about )))))))) ????? What do the mean "About " ? This is a number they should know exactly with all the work they have done leading to Transparency. I believe they will borrow something. Along with the usage of that " Large but Nescessay Fiscal Adjustment ". 

[NoviceInvestor]

On 6 April 2017 at 5:43 AM, tigergorzow said:

Yota Thanks,  DV,  Syn...Agree,  We are closing in on the last of the "Big Plan" to bring Iraq back to the International Stage so stay focused on the "Big Prize" because delay delay is no longer an option for Iraq.   Jared Kushner's visit was not all about "Liberation Of Mosul" but they dare not share with at the moment but sooner or later they must release the IQD's real value.

 

GO RV / RI

But I'm getting a tad impatient now.. The journey has been too long thus far and I want to see the station soon and by that I mean "real soon" ... 🙏🙏🙏

[DWS112]

Parliamentary Finance: Iraq in the coming years will depend on loans April 8, 2017

BAGHDAD / .. Parliamentary Finance Committee confirmed on Saturday that Iraq needs to borrow from the IMF and the World Bank, over the coming years, stressing the need to draw a clear-cut and long-term economic plans.

A member of the committee MP Ahmad Sarhan, for "Eye of Iraq News", that "Iraq needs continuous loans from the World Bank or the International Monetary Fund, during this year and 2018 and 2019," noting that "the Iraqi economy collapsed."

 Ahmed added that "not for previous loans to what Iraq could wage war on Daesh and pay the salaries of employees," explaining that "Iraq needs funds to complete the purge of its territory from terrorism and Daesh, and the age of its regions, as well as investments, and these things are not only through loans" .

He pointed out that "the situation requires Iraq borrowing and borrowing in order to come out of the crisis, and they should be clearly defined and long-term economic plans."

Edited April 8, 2017 by DWS112

[King Bean]

I thought Abadi came out two weeks ago saying they wouldn't need any more loans and could start repaying loans next year ??  Since Parliament has been pondering the new official Iraq logo, I suggest an outreached hand begging for $$$.

[MyLadiesDaddy]

[yota691]

IMF lowers loan to Iraq $ 13 billion

 

 

Economy News / Baghdad ...       He revealed the Parliamentary Finance Committee member Abdul Qader Mohammed, Sunday, for the loan requested by Iraq from the International Monetary Fund value, while noting that the Fund reduced the loan amount from $ 15 billion to $ 13 billion for several reasons.   Mohammed said in a press statement, "The IMF will give Iraq nearly $ 13 billion instead of the $ 15 billion Iraq had requested a loan from the Fund."   He added that "the reason is due to the improvement in global oil prices, in addition to the inability of Iraq to pay $ 15 billion during the period prescribed to him," adding that "the fund will turn these funds in the form of industrial and commercial grants, agricultural and part of them to fill the budget deficit."
Views 30   Date Added 09/04/2017 - 10:24   Last updated 09/04/2017 - 14:48   No. Content 7094

[bkeiller]

https://www.bloomberg.com/quote/CL1:COM

WTI crude is up almost $5 per barrel since 3/27/2017, when it was $47.73.

Keep on rising!

Crude Oil & Natural Gas

INDEX	UNITS	PRICE	CHANGE	%CHANGE	CONTRACT	TIME (EDT)	2 DAY
CL1:COM WTI Crude Oil (Nymex)	USD/bbl.	52.24	+0.54	+1.04%	May 2017	4/7/2017
CO1:COM Brent Crude (ICE)	USD/bbl.	55.24	+0.35	+0.64%	Jun 2017	4/7/2017

[ChuckFinley]

[ChuckFinley]

On April 5, 2017 at 11:42 PM, Wiljor said:

"As we get closer to the main event, I think we will see news like we are on a roller coaster hitting a barrel roll one way and then a cork screw the other way."

Bingo Syn, that is exactly what's is taking place, good eye bother. 

Could not agree more. I used the example of spinning a quarter. When you first start it spins tightly, at the end you see it go side to side kind of out of control. At our end I expect to see all kinds of wild news to make you think that Iraq is on the edge of clasp, then Bang.