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Iraq launches a project to reform the financial management in cooperation with the World Bank

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International Monetary: Iraq are optimistic to exceed the financial crisis

   
 

 
 

4/27/2017 0:00 
 
 
Amid large government reforms hailed  
Baghdad / Alaa al - Tai 
expressed the International Monetary Fund ( IMF ) is optimistic to go beyond Iraq 's financial crisis, at a time when the new World Bank support for the country , revealing the allocation of $ 9 million for gas investment in it. 
The Iraqi delegation concluded talks with the IMF and the World Bank within what is known as »Spring Meetings» which lasted for days in the US capital Washington. 
A statement by the Ministry of Finance, followed the «morning», that « the delegation agreed with the representative of the International Monetary Fund for the Middle East and East Asia Christian nut, at the end of the talks , chaired by the Iraqi side, Minister of Finance Agency Abdul Razzaq al- Issa and in the presence of Prime Minister for Financial Affairs Advisor to the appearance of Mohammed Saleh and a number of financial and electricity, with the participation of the Iraqi ambassador in Washington , Farid Mustafa and officials of the ministries, the completion of meetings and joint coordination to contain the difficulties of the financial crisis. » 
He nut, according to the statement «optimism about the level of understanding achieved and progress with the Iraqi government», stressing that « the joint coordination and consultations will be completed in the near term will contribute to addressing the financial problems posed by the circumstances of war and its attendant economic implications that steps». 
President of the International Monetary Fund Christine Lagarde also stressed the importance of government reforms, expressing optimism the exit of Iraq from the financial crisis during the next term. 
In turn, Saleh said in an exclusive interview with »Sabah», that «at the level of readiness credit program with the IMF , there are two issues, the first: the ability to continue and develop the energy sector in a complex market conditions and suffered severe crises, while the other is prudent financial management that enabled the country overcome the financial plight over the oil revenues degradation, as well as large expenditures in the budget, which contributed to crush terrorism and liberation of man and the earth .. and finally the success of the price system and the stability of the general price level and the ability to balance by maintaining the level of security of the international reserves of Iraq. » 
This comes at a time when the new World Bank 's support for Iraq 's economic reforms and development through an integrated financial management system, praising the Iraqi government steps in the field of resource management. 
The statement said that « the World Bank representatives assured the Iraqi delegation that« economic reforms represent the need for prime access to an integrated system for the management of the financial operation of the state at the federal and local level », pointing out that« the meeting made it clear that a significant percentage achieved by the Iraqi institutions in this field .. What gives an area appropriate to the World Bank to support the budget and reconstruction projects within the time limits required to achieve its objectives. » 
 According to the statement , the World Bank has been welcomed by »steps the Iraqi government in the field of resource management and the development of visions of reform in coordination with international organizations and financial institutions.» 
Alissa was announced earlier that the World Bank expressed its readiness to allocate nine million dollars to support the associated gas investment in Iraq. 
He said in a statement issued on the sidelines of the meetings that « the Iraqi government will intensify the work of the joint committee between the ministries of finance, electricity and oil to activate the associated gas investment and benefit from it in the operation of electric power projects.» Iraq resolves in the eleventh place among the nations of the world 's rich natural gas reserves of proven about 112 trillion  
cubic feet. 
In turn, the price of the Iraqi delegation Bank and the position of the Fund for international support of the country, and stressed orientation of the Iraqi government and its willingness to deal with remnants of war and the development of scientific programs for the next stage start of reconstruction does not end with education systems and job creation and the development of technical skills}. 
The World Bank promised to continue to support funding for programs to promote the various infrastructure and reconstruction.
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IMF and the private sector to improve the Iraqi discuss tax revenues

Journal April 27, 2017 15 Visit

 

 

 

BAGHDAD (Reuters) -

 

Representatives of the Iraqi private sector discussed with a delegation from the International Monetary Fund, the recent approval of a loan for Iraq to pay off the arrears to contractors and suppliers of Iraqis and peasants, and the ways to solve this problem, given the importance in stabilizing the economy.

He asked the deputy head of the International Monetary Fund for the Middle East and Asia Christiaan nut at the meeting, which was held in Baghdad about the possibilities that increase state revenues, including taxes and activate those imposed on non-oil products.

 He pointed out that «tariffs ranged from 5 percent to 10 percent», saying it «is not the correct way in which the customs revenues collected». He stressed the need to «change this way for up to 30 percent».

He said, quoting Al-Hayat that «the fastest gains and revenues resulting from the regulation and taxation unit, and these significant revenue achieved as imposing on a slice of big dealers».

Coconut called «a recruitment freeze until the development of management, because the high proportion of staff in the civil service was a way to satisfy some of their employment without regard to efficiency, this system will lead to a deficit over the next ten years».

He pointed to «the problem of the weakness of the banking sector and the importance of strengthening business through bank restructuring« Rafidain »and« rational »government, and wide open space in front of private banks with the need to assess the weaknesses and the correct foundations for the fight against money laundering, it can resort to the Integrity Commission and specialized organizations» .

He noted. «Progress made by the Office of Financial Supervision in the audit of transactions unaudited»

She said economist Ibrahim al-Baghdadi, in an intervention that Iraq «began levied customs tariff, which increased its resources in some customs ports to more than 30 times, and the collection of electricity increased 20 times, and referred the Ministry of Electricity to collect electricity fees on companies under investment contracts, and began to appear positive results ».

He stressed that «the payment of dues market will move the wheel and handling weak liquidity in the markets, which affected the individual and small business income level.»

The head of the Federation of Iraqi Contractors Ali Snava, b «the launch of arrears of transactions audited by the Office of Financial Supervision».

He said that «the Federation of Contractors comprises 34 thousand contractors, and gets a large part of their suffering in the tax calculation stage, because the amounts of tax deductions reserved to the provinces».

And it considered the economic researcher Lubna al-Shammari, that «the banking sector reform is a gateway to various investments to Iraq».

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IMF puts a plan to improve Iraq's revenues from taxes

economy

 Since 04/27/2017 16:29 am (Baghdad time)

15.jpg

Follow-up to the balance of News

Representatives of the Iraqi private sector discussed with a delegation from the International Monetary Fund, the recent approval of a loan for Iraq to pay off the arrears to contractors and suppliers of Iraqis and peasants, and the ways to solve this problem, given the importance in stabilizing the economy.

He asked the deputy head of the International Monetary Middle East Fund and the Asia Christiaan nut at the meeting, which was held in Baghdad about the possibilities that increase state revenues, including the activation of taxes and those imposed on non-oil products, pointing out that the tariffs were between 5 and 10 per cent, considering it It is not the correct way in which the customs revenues collected, and stressed the need to change this way of up to 30 per cent.

He said that faster gains and revenues resulting from the regulation and taxation unit, and these significant revenue achieved as imposing on a slide adult merchants.

 Nut and called for a hiring freeze until the development of management, because the high proportion of staff in the civil service was a way to satisfy some of their employment without regard to efficiency, this system will lead to a deficit over the next ten years.

  He pointed to the problem of the weakness of the banking sector and the importance of strengthening business through Rafidain Bank restructuring and good government, and wide open space in front of private banks with the need to assess the weaknesses and the correct foundations for the fight against money laundering, you can resort to the Integrity Commission and specialized organizations. He noted the progress made by the Office of Financial Supervision in the audit of transactions audited.

He explained the economic expert Ibrahim al-Baghdadi, in an intervention that Iraq began levied customs tariff, which increased its resources in some customs ports to more than 30 times, and the collection of electricity increased 20 times, and referred the Ministry of Electricity to collect electricity fees on companies under investment contracts, and began to show results positive.

He stressed that the payment of dues will move the market wheel handles weak cash liquidity in the markets, which affected the per capita income and small business level.

The head of the Federation of Iraqi Contractors Ali Snava, the launch of arrears transactions audited by the Office of Financial Supervision. He said that the Contractors Union comprises 34 thousand contractors, and gets a large part of their suffering in the tax calculation stage, because the amounts of tax deductions are reserved to the provinces.

 And considered the economic researcher Lubna al-Shammari, the banking sector reform is a gateway to diverse investments to Alarac.anthy 29 / m h n

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Good morning Yota and DV. So, once again, we see that the World Bank and IMF are 'heavily involved' in Iraq's finances, and in a way that's new and unique from my perspective. Can you imagine if The World Bank and the IMF tried to meddle in the U.S. tax  affairs? This article shows a lot more of the true. 'behind the scenes' extent of the IMF and WB in Iraq. More to come,I hope. Go RV!!!

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Iraq claims .. political majority to prevent the monopoly of parties, "International Monetary loans"

Ali Rasouli May 2, 2017 Add comment 11 Visit

 

 

 

BAGHDAD - The Journal News

Experts and deputies in the Iraqi economy, warned to go IMF loans to political parties so as to enhance its hegemony and the spread of nepotism in the country.

 He said an economic expert, peace Sumaisem, for "Journal News" on Tuesday, "The negative impact of the ongoing process of borrowing from the IMF will lead to significant economic problems."

It criticized Sumaisem the work of the International Monetary Fund mechanism in Iraq because of his dealings with government agencies exclusively.

She stressed the "application of economic programs according to a specific mechanism that these episodes need to support the work of international organizations to international reports, as well as the work of voluntary organizations within Iraq and not the monopoly of economic reform."

And he demanded that "the International Monetary Fund and the World Bank to expand its base and its cooperation with the Iraqi private sector Iraqi economic figures to reach great economic goals."

As confirmed by a member of the Committee on Economy and Investment, Mohammed Al Mahmoudi, for "Journal News" on Tuesday, "The basic parties are controlled by the overall economic and political realities and all the joints of life in Iraq."

He added that "Iraq did not reach the level of giving a political decision, or economic, or professional, independently of political leaders in the country" and that "all political blocs have a role in the decisions."

He called al-Mahmoudi, "the government to go to the political majority as a prerequisite to change the reality in Iraq."

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WEDNESDAY, MAY 3, 2017

IMF demands more conditions for Iraqi loan

 
7:09 AM  ADMIN  

 

 
%25D8%25B5%25D9%2586%25D8%25AF%25D9%2588
Baghdad/ Iraq TradeLink: Informed financial sources disclosed that the representatives of the International Monetary Fund (IMF)  informed Iraq that the payment of the 840 million dollar-batch necessitates enhancing tax system and collection of revenues , as well as the seriousness of Iraq to continue this procedures.
 
The sources criticized the available information as "electoral" talk, that will affect Iraqi talks with the international organizations.
 
Lately, the representatives of the Iraqi private sector discussed with the IMF the delayed payments of Iraqi contractors and peasants and how to solve these problems for the stabilization of the Iraqi market.
 
The IMF criticized the procedures how to collect the customs tariff, demanding to increase it to 30%, as media reports said.
 
On the other hand, the IMF called for restructuring both governmental Rafidain and Rasheed banks and give the private banks better opportunities , as well as combating money laundering.
 
 
The increase in employments in the governmental sector will create a deficit in the coming 10 years, IMF expected.

 

 
Posted in: Baghdad,Economy
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International Monetary requires regular taxes strengthening and collection for the disbursement of the new loan

Journal May 2, 2017  300 Visit

 

 

May 3, 2017

 

BAGHDAD Journal News 
revealed the beginning of a financial source for "Journal News", that representatives of the International Monetary Fund, told Iraqi officials that the second review of the standby credit agreement is complete and the consequent release of a new batch amount of $ 840 million, representing a new batch of loan the Fund depends on the regular tax collection and strengthening of the country, and to make sure Iraq was serious in moving in this direction.

The source said in a statement singled out by the "Journal News", that "some officials motivated harassment and electoral bids statements, regarding economic reform measures, still pose damage to talks with international organizations." 
Discussed by representatives of the Iraqi private sector with a delegation from the International Monetary Fund, the recent approval of a loan for Iraq to pay off the arrears to contractors and suppliers of Iraqis and peasants, and the ways to solve this problem, given the importance in stabilizing the economy.

He asked the deputy head of the International Monetary Fund for the Middle East and Asia Christiaan nut at the meeting , which was held in Baghdad , " the possibilities that increase state revenues, including taxes and activate those imposed on non - oil products." 
He pointed out that "customs duties ranged between 5 and 10 percent," returned it "is not the proper way in which the customs revenue pool".

He stressed the need to "change the way up to 30 percent." 
He said that "faster gains and revenues resulting from the regulation and taxation unit, and these significant revenue achieved as imposing on a slide adult merchants."

Nut and called for a "hiring freeze until the development of management, because the high proportion of staff in the civil service was a way to satisfy some of their employment without regard to efficiency, this system will lead to a deficit over the next ten years." 
He drew attention to " the problem of the weakness of the banking sector and the importance of strengthening business through Rafidain Bank restructuring and good government, and wide open space in front of private banks with the need to assess the weaknesses and the correct foundations for the fight against money laundering, it can resort to the Integrity Commission and specialized organizations."

He noted " the progress achieved by the Office of Financial Supervision in the audit of transactions audited." 
She said economist Ibrahim al - Baghdadi , in an intervention that Iraq "began levied customs tariff , which increased its resources in some customs ports to more than 30 times, and the collection of electricity increased 20 times, and referred the Ministry of Electricity to collect electricity fees on companies under investment contracts, and began to appear positive results. " 
He stressed that " the payment of dues will move the market wheel handles weak cash liquidity in the markets, which affected the individual and small business income level."

The head of the Federation of Iraqi Contractors Ali Snava, " the launch of arrears of transactions audited by the Office of Financial Supervision." 
He said that the "Union of Contractors comprises 34 thousand contractors, and gets a large part of their suffering in the tax calculation stage, because the amounts of tax deductions reserved to the provinces." Promised economic researcher Lubna al - Shammari, that " the banking sector reform is a gateway to various investments to Iraq."

The informed sources revealed the axes of the meetings of the Ministry of Finance with the World Bank , held in the United States recently, saying they patrol before granting Iraq a share of the loan by $ 450 million, pointing out that the meetings will continue every 3 months until Iraq gets a loan full payments for up to 5 billion and $ 400 million next year. 
Government sources said, " The Iraqi Ministry of Finance meetings with the World Bank held in Washington , is a third patrol nine months ago."

The sources added that "Iraq has already agreed with the International Monetary Fund and the World Bank to obtain a loan of up to $ 5 billion and $ 400 million , repayable over three years." 
She noted that "the lender required on Iraq , carrying out a number of reforms for the purpose of completing pay these amounts." 
The sources confirmed that " the last meeting was held three months ago in the Jordanian capital , Amman , and allocated for the same purpose , " indicating that " the Iraqi delegation renewed its commitment to the terms of the World Bank that spends payments intended purposes." 
In turn, the economist said Abdul Rahman al - Mashhadani , in a commentary, said that "the international body seeking to determine the extent of Iraq 's commitment to the terms of the loan before granting a new batch."

Mashhadani said that " the meetings will remain constant with each $ 450 million and a boost in order to complete the full value of the loan." 
He added that " the purpose of the foundation amounts , according to the World Bank is to meet the budget deficit and the balance of payments in Iraq." 
Mashhadani finds that "periodic meetings are a calendar allowing Iraq to submit a paper explaining its mechanisms to deal with the economic crisis." 
The economist went on to "another loan to ensure the World Bank is also provided by Britain, France and Canada reached its value to $ 13 billion." 
It complements Mashhadani , saying that "Iraq has received from this loan -alm_khass for the reconstruction of areas Mahrrh- during the last term of 980 million dollars."

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Iraq launches a project to reform the financial management in cooperation with the World Bank  May 4, 2017

 

Abdul-Razzaq al-Essa

 

Information / Baghdad ..
Announced the Minister of Finance Agency Abdul Razzaq al-Essa, Thursday announced the launch of Iraq in cooperation with the World Bank representatives in Baghdad project reform and modernization of the financial management systems of the state.
 
A statement by the Ministry of Al-Issa said during his meeting with World Bank representatives headed by the Special Representative of the Bank of Robert Bo quality and his accompanying delegation and received / information /, a copy of it, that "this important step comes on the basis of the agreement with the World Bank representatives during the Spring Meetings held recently in Washington. "
 
Al-Issa noted, "This project includes key topics such as the trend towards an integrated information system for financial management and computerization of the operations of public financial management of the preparation and implementation of the budget in the Ministry of Finance and other ministries and units of exchange all".
Alissa stressed that "the project is one of the priorities of government investment development of the Iraqi state."
Edited by DWS112
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Good Morning Yota ...sorry...just a habit of mine :-)  ...and good morning DWS112-and all of DV for that matter...

 

Thank you very much DWS112, for bringing this fine article to the news section so early in the day- I sincerely appreciate it. I am hopeful that the content of the article contains 'more depth' that is revealed 'in the coming days...or, for that matter, very very soon... Or, better yet, before the 25th of May - 2017, and more precisely by next week!  

 

I hope that the next next several days show a flurry of activity from various workd-wide influences, that are all 'watching the paint dry' (as Coorslite so eloquently said.);  from where I sit, it sure will be a wonderful time to 'stop watching the grass grow' - and have some fun.  I truly look forward to the joy we all hope to receive, which in my own perception, will be some time this month. Heck- I may even go out and buy a Bitcoin or two, and keep one as a pet that will be named Buzzy.

 

Go RV!!!

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1 hour ago, DWS112 said:

and units of exchange all

ya `  gotta get a little  excited with  this statement ...   good morning every one ..... 

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13871.jpg
   
Economy News _ Baghdad:
 
 
 
Step by the World Bank Parliamentary Finance Committee confirmed on Thursday that the reform of the financial system in Iraq is an important step in support of investment in the country.
 
The committee member said Abdul Qader Mohammed was born in an interview seen by the "Economy News", "The World Bank follows a strict policy, and because it lends Iraq sums payable, and at the same time, Iraq calls for the administration correct financial institutions through in-depth financial management and financial performance government. "
 
He described the live "step by the World Bank as positive by building a solid ground for the work of the ministries and the Iraqi institutions and financial discipline, the fact that the project includes key topics such as the trend towards an integrated information system for financial and computerization of the management operations of public financial management of the preparation and implementation of the budget in the Ministry of Finance and other ministries and units of exchange all" .
 
 
 
 
 
Views 599   Date Added 05/04/2017 - 12:32   Last updated 05/04/2017 - 13:16   No. Content 7422
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The launch of the project financial management reform in cooperation with the World Bank

04/05/2017

 

 

 

(Independent) .. Iraq was launched in cooperation with the World Bank representatives in Baghdad project reform and modernization of the financial management of the state systems

The Minister of Finance Agency Essa Abdul Razak told a news conference after the meeting with representatives of the World Bank that this important step comes on the basis of the agreement with the World Bank representatives during the spring meetings recently held in Washington.

Alissa said at the press conference that this project includes key topics such as the trend towards an integrated information system for financial management and computerization of the operations of public financial management of the preparation and implementation of the budget in the Ministry of Finance and other ministries and units of exchange all.

He added that the priority of the project is to develop a government investment of the Iraqi state. For their part, representatives of the World Bank expressed readiness for cooperation and support for Iraq and the development of financial mechanisms being one of the founding countries and contribute to the World Bank.

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THURSDAY, MAY 4, 2017

Iraq, WB start financial reform

 
7:59 PM  ADMIN  

 

Baghdad/ Iraq TradeLink: Iraqi Acting Finance Minister Abdul Razzak al-Issa stated that the
%25D8%25A7%25D9%2584%25D8%25A7%25D8%25B5
financial reform in the country, in cooperation with the World Bank (WB) has been started.
 
This move complements the agreement in Washington last Spring.
 
He pointed that this project will concentrate on financial administration and the implementation of the budget at the finance ministry and other departments.
 
 
Minister Issa added that the priorities of the project is to develop governmental investments.

 

 
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Thanks everyone for posting. I would not get all wrapped up in what others post. I can not tell you how many times a study was done for this and a study was done for that.  I can remember a study that was post by the CBI, Laid Back or some other old times my remember, that in 3 years they wanted to get to a certain value. No one and I mean no one out here knows anything about the value, time frame, and what the requirements are to revalue. If you think like I do, Adam, and a few others, that this has real value then get out there and do the right things, VIP, OSI, and Corp Cert. Have faith in yourself.  :twothumbs:

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1 minute ago, ChuckFinley said:

Thanks everyone for posting. I would not get all wrapped up in what others post. I can not tell you how many times a study was done for this and a study was done for that.  I can remember a study that was post by the CBI, Laid Back or some other old times my remember, that in 3 years they wanted to get to a certain value. No one and I mean no one out here knows anything about the value, time frame, and what the requirements are to revalue. If you think like I do, Adam, and a few others, that this has real value then get out there and do the right things, VIP, OSI, and Corp Cert. Have faith in yourself.  :twothumbs:

 

Good points Chuck, what I know is the IQD is being held FORCEFULLY below its true value. As you said what that value is and when is the unknown. What I do know is one day it will be brought back to a value superior then what it is today, that's what keeps me in this. 

 

Here's to its new value. :bravo:

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8 minutes ago, Wiljor said:

 

Good points Chuck, what I know is the IQD is being held FORCEFULLY below its true value. As you said what that value is and when is the unknown. What I do know is one day it will be brought back to a value superior then what it is today, that's what keeps me in this. 

 

Here's to its new value. :bravo:

I am with you on this. I kind of bothers me when people post here like they are subject matter experts and come across like we are village idiots. The smartest Guy i know, but do not know personally, is Adam. He has contacts there too and not once has he said anything about rates, dates, or this Will not happen till year XXXX. He is focused on one thing, the HCL. That should tell us something. 

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31 minutes ago, ChuckFinley said:

Thanks everyone for posting. I would not get all wrapped up in what others post. I can not tell you how many times a study was done for this and a study was done for that.  I can remember a study that was post by the CBI, Laid Back or some other old times my remember, that in 3 years they wanted to get to a certain value. No one and I mean no one out here knows anything about the value, time frame, and what the requirements are to revalue. If you think like I do, Adam, and a few others, that this has real value then get out there and do the right things, VIP, OSI, and Corp Cert. Have faith in yourself.  :twothumbs:

 

26 minutes ago, Wiljor said:

 

Good points Chuck, what I know is the IQD is being held FORCEFULLY below its true value. As you said what that value is and when is the unknown. What I do know is one day it will be brought back to a value superior then what it is today, that's what keeps me in this. 

 

Here's to its new value. :bravo:

 

You Gentlemen are Tops!

 

No one here can influence the RV date(s) or rate(s) or if the RV will happen at all. Any analysis (especially mine) is pure speculation and only for consideration/entertainment.

 

What ever information out there may or may not be real and could simply be spun. I came across a few articles that seemed to be written some time prior but were not updated before being submitted.

 

When I entered this venture, I knew I didn't know anything about a time frame or value. My factors led me to believe there is value that will be realized at some point but the magnitude is pure speculation.

 

My opinion is what appears to be going on and what is really going on are possibly related but two different animals. What ever or who ever(s) push this thing through may or may not ever be known or when they will actually flip the switch(es). Oh, well, more movies to go watch in the future on this one.

 

My opinion is Iraq is in such a condition that major reconstruction needs to occur with one key outcome of Iraqis not falling into sectarian violence out of desperation for resources. Many people are addicted pretty easily to the opiate of prosperity and I suspect the Iraqis are no different. What better way to bring lots of money and prosperity to make everybody happy than for Iraq to be an international trade partner with a revalued IQD? The closed currency based solely on USD will likely prove to be an impediment for the magnitude of foreign investment/reconstruction that needs to happen in Iraq. So, I suspect the IQD will revalue about the time major reconstruction begins in Iraq for infrastructure and other rebuilding/modernization. Hey, everybody likes new stuff!

 

I may not have all the dimensions pegged but I do believe simple analysis of published information (that may or may not be correct) is no way an indication of what the actual influencers will do - or when.

 

Just my opinion and :twocents:

 

Go Moola Nova!

:twothumbs:

Edited by Synopsis
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39 minutes ago, ChuckFinley said:

Thanks everyone for posting. I would not get all wrapped up in what others post. I can not tell you how many times a study was done for this and a study was done for that.  I can remember a study that was post by the CBI, Laid Back or some other old times my remember, that in 3 years they wanted to get to a certain value. No one and I mean no one out here knows anything about the value, time frame, and what the requirements are to revalue. If you think like I do, Adam, and a few others, that this has real value then get out there and do the right things, VIP, OSI, and Corp Cert. Have faith in yourself.  :twothumbs:

Hey Chuck! I have studied in your study and plan on doing more studying in my study later! If you would like to study up on why I have studied so much just look it up and study it!!! 

No one knows Jack! Agreed brother!!! 

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      and I may not need to.
       
      The weekly updates won't be necessary once we have an RV, and the stars are lining up very 
      nicely right now.
       
      Fingers crossed on that one. I’ll explain why below, and you might want to strap in for this one!
       
      First, the budget was submitted, signed, and looks like it will be passed, with a HUGE
      keynote - a significantly acceptable portion of the budget going to the Kurds. This has
      been a major point of contention between the parties over the years, in fact it’s possibly
      the biggest point of disagreement and reason for delays in the budget approval process
      in recent history.
       
      You can read the budget as it is written and posted here, but it needs to be published in the
      Gazette to be official. This may be happening yet this week, and if it does... that will be insanely
      quick. 
       
      It's barely the first week of February!!! Last year the Budget was boycotted by the Kurds in March,
      and they threatened to secede over the disputes.
       
      THAT is how far we've come in a year!!!
       
      If you’re not already squirming, let me tell you - this is awesome news. A happy GOI is a
      GOI that we can get behind, because it’s one that is more likely to RV. And this is possibly
      the happiest we’ve ever seen them!
       
      That by itself may have been enough reason for me to send out a special email on most
      weeks, but this week - THIS week - we have more.
       
      Maybe MUCH more!
       
      I’m trying to contain my excitement, and I’ve been doing a pretty good job of staying (mostly)
      in my seat, but it’s getting more and more difficult.
       
      We may have an HCL agreement shortly!
       
      I’ve been on the verge of releasing this information for over a week, and I’ve only held off
      because THIS is the kind of movement we need to see for an RV to happen, and I didn’t
      want to release the news without a full confirmation.
       
      As the news keeps coming out, this is going to start getting press in other places, so you
      may as well hear it here.
       
      If you’ve been following me for any time now, you know I’ve been on an “HCL-requirement”
      kick for a couple years now. No HCL = no RV. I've harped on that for years... and now, after 
      a long ride, it's not just on the horizon - it's coming at us, lights flashing and horns blaring!
       
      If you have NOT been with me for that long, let me introduce myself!
       
      Hi, I’m Adam Montana. The possibility of a Dinar RV has been in the works for a while
      now - over a decade, in fact.
       
      I’ve been following it, and helping tens of thousands of people avoid bad info, for the entire time.
       
      The summary on Iraqi Dinar is simple - back in 2003, the country of Iraq went through some
      stuff and their currency plummeted in value. It was once worth over $3 per one Iraqi Dinar,
      and now it’s worse than 1000 dinars to $1. 
       
      It was even worse, so much worse that those of us who got in early enough have already doubled our money.
       
      But, and this is why most of us are here in the first place, it stands a fighting chance of going
      back to it’s former value, or “ReValuing”, upwards to the tune of 100x where it is now or even more.
       
      When that happens, those of us who have the current Iraqi Dinar (not the “old notes” with Saddam
      Hussein’s face on them) will be able to exchange at that higher value, winning us an amazing profit.
       
      It’s called a “windfall”, and it’s definitely a real thing.
       
      Here’s where yours truly comes in. Throughout this whole venture, and before most of us ever heard
      of the Iraqi Dinar, I’ve been fortunate enough to have contacts in places that matter to get the absolute
      best return on the exchange. Because of the loyal group of members here at dinarvets who have committed
      to work alongside my partners and I in this, we have formed the STRONGEST and BEST CONNECTED
      group of dinar holders in the world… and this gives us EVEN MORE leverage. It's a snowball effect, and 
      it's a good place to be.
       
      In short, we’re going to put more money in our pocket than the average Joe or Mary that simply goes
      to the bank to cash in.
       
      Not only that, but the years of networking and planning for this event have allowed my contacts and
      I to put together the absolute best strategies for reducing tax liabilities, minimize risk, and even invest 
      after the fact to increase our returns.
       
      The best part? There will be no “800 numbers” to call. The VIP group will NEVER part with their dinar as part
      of their exchange. And if you decide to pay the measly amount of money it costs to join the VIP group,
      you are ABSOLUTELY GUARANTEED to get a return on that expense when we cash in on the RV, or I’ll
      refund every penny you spent on VIP.
       
      Your time may be running out. Join VIP here, before it's too late.
       
      Back to the Dinar, for the past couple years I’ve been saying that we need to see progress on the HCL
      to see the RV. While other websites and “gurus” are talking about people already cashing in (fake news),
      or having “secret intel” on the timing of this event… I’ve been telling people to remain calm. 
       
      That’s one of the reasons thousands of VIP members place their trust in my and the programs here,
      because I don’t fluff this stuff up just to get people excited.
       
      I do the opposite - if there’s nothing going on, I tell it like it is, no matter who gets mad at me for it.
      (It happens! )
       
      Well… the time that we have been waiting on may be over. There is news out right now that is more
      encouraging regarding the HCL than ANYthing I have ever seen, and that means we’re almost there.
       
      It means this may be your last chance to get in VIP. Your chance to get in VIP may be over before I
      get this email sent out! And if the RV is announced, and you’re not in the VIP group - you’re on your
      own. No benefits, no tax benefits, and good luck to you.
       
      Now is probably the most URGENT time in this venture to get in VIP.
       
      Join here:  https://dinarvets.com/forums/index.php?/store/category/1-vip-membership-packages/
       
      Remember, there’s a money back guarantee. You have nothing to lose and a LOT to gain. 
       
      See you in there!
       
      GOOOOO RRRRVVVVVV!!!!!!!
       
       
       
      - Adam Montana
       
      P.S. In reading the above, I see that I didn't explain why the HCL is important. In a nutshell, it's important
      to the Kurds so they get a fair share of oil revenue, and ties in very closely to their concerns on the budget. 

      Both of those issues are melting away, right in front of our eyes.
       
      With these two things lining up at the same time, we have the most perfect situation to see an RV that I've 
      ever witnessed.
       
      RIGHT NOW is an amazing time to be part of  this situation!
       

       

       

    • By thegente
      While everone was busy fearing death from ebola, squabbling over Ferguson, ISIS, or any number of media distractions, Americans were yet again sold down the river....
       
       
       
       
      http://www.zerohedge.com/news/2014-12-12/presenting-303-trillion-derivatives-us-taxpayers-are-now-hook
       
       
      Presenting The $303 Trillion In Derivatives That US Taxpayers Are Now On The Hook For  12/12/2014 07:52 -0500


       
          inShare82   Courtesy of the Cronybus(sic) last minute passage, government was provided a quid-pro-quo $1.1 trillion spending allowance with Wall Street's blessing in exchange for assuring banks that taxpayers would be on the hook for yet another bailout, as a result of the swaps push-out provision, after incorporating explicit Citigroup language that allows financial institutions to trade certain financial derivatives from subsidiaries that are insured by the Federal Deposit Insurance Corp, explicitly putting taxpayers on the hook for losses caused by these contracts. Recall:
         
      Five years after the Wall Street coup of 2008, it appears the U.S. House of Representatives is as bought and paid for as ever. We heard about the Citigroup crafted legislation currently being pushed through Congress back in May when Mother Jones reported on it. Fortunately, they included the following image in their article:
       

       
       
      Unsurprisingly, the main backer of the bill is notorious Wall Street lackey Jim Himes (D-Conn.), a former Goldman Sachs employee who has discovered lobbyist payoffs can be just as lucrative as a career in financial services. 
      We say explicitly, of course, because taxpayers have always been on the hook implicitly for the next Wall Street meltdown.
      Why?
      Exhibit A: US banks are the proud owners of $303 trillion in derivatives (and spare us the whole "but.. but... net exposure" cluelessness - read here why that is absolutely irrelevant when even one counterpaty fails):

       
      Exhibit B: Here are the four banks that are in complete control of the US "republic."


      At least we now know with certainty that to a clear majority in Congress - one consisting of republicans and democrats - the future viability of Wall Street is far more important than the well-being of their constituents. Which also, implicitly, was made clear when Hank Paulson was waving a three-page "blank check" term sheet, and when Congress voted through the biggest bailout of banks in US history back in 2008.
      The only question is when the next multi-trillion (or perhaps quadrillion now that all global central banks are all in?) bailout takes place.
      Source: OCC
       

      MORE:
       
       
       
       
      http://libertyblitzkrieg.com/2014/12/05/wall-street-moves-to-put-taxpayers-on-the-hook-for-derivatives-trades/
       
       
      Wall Street Moves to Put Taxpayers on the Hook for Derivatives Trades Michael Krieger | Posted Friday Dec 5, 2014 at 3:43 pm Wall Street has for some time attempted to put taxpayers on the hook for its derivatives trades. I highlighted this a year ago in the post: Citigroup Written Legislation Moves Through the House of Representatives. Here’s an excerpt:

      Five years after the Wall Street coup of 2008, it appears the U.S. House of Representatives is as bought and paid for as ever. We heard about the Citigroup crafted legislation currently being pushed through Congress back in May when Mother Jones reported on it. Fortunately, they included the following image in their article:
       

      Unsurprisingly, the main backer of the bill is notorious Wall Street lackey Jim Himes (D-Conn.), a former Goldman Sachs employee who has discovered lobbyist payoffs can be just as lucrative as a career in financial services. The last time Mr. Himes made an appearance on these pages was in March 2013 in my piece:  Congress Moves to DEREGULATE Wall Street.
        Fortunately, that bill never made it to a vote on the Senate floor, but now Wall Street is trying to sneak it into a bill needed to keep the government running. You can’t make this stuff up. From the Huffington Post:

      WASHINGTON — Wall Street lobbyists are trying to secure taxpayer backing for many derivatives trades as part of budget talks to avert a government shutdown.
      According to multiple Democratic sources, banks are pushing hard to include the controversial provision in funding legislation that would keep the government operating after Dec. 11. Top negotiators in the House are taking the derivatives provision seriously, and may include it in the final bill, the sources said.
      The bank perks are not a traditional budget item. They would allow financial institutions to trade certain financial derivatives from subsidiaries that are insured by the Federal Deposit Insurance Corp. — potentially putting taxpayers on the hook for losses caused by the risky contracts. Big Wall Street banks had typically traded derivatives from these FDIC-backed units, but the 2010 Dodd-Frank financial reform law required them to move many of the transactions to other subsidiaries that are not insured by taxpayers.
      Last year, Rep. Jim Himes (D-Conn.) introduced the same provision under debate in the current budget talks. The legislative text was  written by a Citigroup lobbyist , according to The New York Times. The bill  passed  the House by a vote of 292 to 122 in October 2013, 122 Democrats opposed, and 70 in favor. All but three House Republicans supported the bill.
      It wasn’t clear whether the derivatives perk will survive negotiations in the House, or if the Senate will include it in its version of the bill. With Democrats voting nearly 2-to-1 against the bill in the House, Senate Majority Leader Harry Reid (D-Nev.) never brought the bill up for a vote in the Senate.
      Remember what Wall Street wants, Wall Street gets. Have a great weekend chumps.
    • By BetOnDinar
      BAGHDAD (AP) — A senior Iraqi official says daily oil exports have shot up in February to 2.8 million barrels from nearly 2.3 million barrels in the previous month, thanks to a small group of international oil companies developing oil fields and export infrastructure.
      Iraq's Deputy Prime Minister for energy, Hussain al-Shahristani, also said Saturday in the southern oil-rich city of Basra that average production, including the exports, exceeded 3.5 million barrels per day last month. Al-Shahristani described the figures as "unprecedented."
      Iraq's daily oil production and exports have climbed steadily since 2011, nearly two years after Iraq awarded rights to develop its major oil fields to international oil companies. It holds the world's fourth largest oil reserves, some 143.1 billion barrels, and oil revenues make up nearly 95 percent of its budget.
       
      Source:  http://www.wtvq.com/business/story/Official-Iraqi-crude-oil-exports-jump-in-February/j9NpxCgbpkiL7a3-lm08wg.cspx
       
       
    • By yota691
      Kurdish lawmaker: Delegation Arrives in Baghdad province and the agenda of his talks focused on finding immediate solutions to the problem of the budget
      Monday, February 17, 2014 13:23
       
      [baghdad - where]
       
      Delegation arrived in the Kurdistan Regional Government on Monday to Baghdad to discuss outstanding differences on the federal budget and file oil.
       
      The official spokesman for the provincial government Sven Dzi had said on Sunday he was "in the framework of continuing the current talks in order to reach solutions to address the crisis between Erbil and Baghdad about my oil and Budget, will travel on Monday [today] Delegation Kurdistan Regional Government headed by Barzani to Baghdad." .
       
      He said the Kurdistan Alliance MP Mehdi Haji told all of Iraq [where] that "the delegation of the province arrived this morning in Baghdad, headed by the Prime Minister of the Kurdistan Regional Government Barzani," adding that "the talks will focus on emphasizing solving the outstanding problems through joint committees between Baghdad and Erbil, including for the management of the security file in the disputed areas, energy and the Peshmerga and the financial budget and Article [140] and the national partnership. "
       
      "The talks will focus heavily on the file of the budget and a two-lane, either to resolve recurring problem once and for all and own a share of Kurdistan, or resorting to exit temporarily in order to pass the budget for the benefit of the people," noting that "among these treatments immediate consensus on the budget this year, just like any other years and passed in parliament in the presence of deputies of the Kurds and the rest of the blocks. "
       
      It is scheduled to hold a delegation meeting with the provincial government of Prime Minister Nuri al-Maliki and Vice President for Energy Affairs Hussain al-Shahristani, to discuss the resumption of processing oil and my budget.
       
      The representatives of the federal government has demanded that the House of Representatives Amhalam this week for a meeting with the Kurdistan Regional Government to resolve the dispute of oil and the share of balancing the province of the budget for fiscal 2014, after holding the heads of blocs and parliamentary committees held a meeting with the government last Thursday to discuss the federal budget and the outstanding issues between the federal government and the province Kurdistan. ended 2.
       
    • By Kinematik
      BAGHDAD / News Network Iraq - meeting saw the presidency of parliament with the leaders of political blocs in the presence of Minister executives at the center and the region atmosphere tense and conflicting opinions and open files precedent. Has revealed parliamentary source said in a statement today, that the Kurdistan region carrying two solutions only two to the cause of the financial budget and differences with the federal government about entitlements oil companies in the region., the source said, "The Minister of Natural Resources in the region carrying two solutions to the issue of the financial budget first is to pay the government for the $ 4.2 trillion dinars to the Kurdistan region and be within an item in the financial budget." and added that "The second solution is In that sells Kurdistan oil this amount directly to companies and receive this amount from these companies directly. "He explained that the solutions did not reach an agreement on them as the oil minister in the central government announced that an amount of pent-region of 10.5 trillion dinars was paid region to the center after selling oil How else are given this amount to companies and the center did not receive the proceeds from the sale of oil. The source indicated that "the oil minister proposed the idea of ​​relating that are transfers $ 750 billion dinars from the Ministry's budget to the Kurdistan region to be the amount in the budget for the Kurdistan region about the dues of oil companies trillion and 500 billion dinars as the atmosphere in the talks between the blocs was marred by tension and difficulty of reaching a solution. "turn pointed Chairman of the Board of Supreme Audit Abdel Basset Turki said the government has no right to allocate any amount of outside tables in the budget. He said the claims of some of the possible use of treasury transfers in bridging dues Kurdistan region is a violation of constitutional and legal government can not do without identified in the financial budget. He said the solution is to re-budget, to the government and increase to be covered dues Kurdistan. Among source said Haider Abadi, head of the Finance Committee between he can not increase the budget without increasing revenues. Herren added that any budget where revenues and expenses and can not increase expenses without increasing revenues and could Region Kurdistan to send his trust funds is ten trillion and a half in order to increase revenue and thus increase the budget ceiling. was chairman of the parliament's meeting with the heads of blocs and the ministers executives in the federal authority and the Kurdistan Regional Government.
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