tigergorzow Posted June 6, 2017 Report Share Posted June 6, 2017 7 minutes ago, WheresmyRV? said: They like to study, review and form 22 committee's before they agree on something then before they do that take a 60 day recess from parliament. WheresMyRV, Totally Agree absolutely 100% correct. Once this is done no more meetings should be allowed and banned for the next 20 years..😊😁😊 GO RV / RI 3 Quote Link to comment Share on other sites More sharing options...
SocalDinar Posted June 6, 2017 Report Share Posted June 6, 2017 Iraq plans additional budget to access IMF funds By: Emma Rumney 6 Jun 17 Iraq is to pass a supplementary budget in order to secure an $800m loan tranche from the International Monetary Fund. Web_Baghdad_shutterstock_319901072.jpg Baghdad, Iraq The war-torn country is currently working through a three-year $5.34bn programme with the fund, with aims including restoring balance to the public finances, achieving debt sustainability and curbing corruption. Release of the $800m loan, which follows a $600m tranche released at the end of last year, is subject to the country passing an agreed supplementary budget for 2017 and strengthening spending controls. While an agreement, which also outlines objectives for the 2018 budget, has been reached between Iraqi authorities and IMF staff, the fund’s executive board will need to give the deal final approval. Christian Josz, IMF mission chief for Iraq, said the agreement will be put to the board “once prior actions have been implemented”, possibly in August. “Both the supplementary budget and the 2018 budget will keep fiscal consolidation, necessitated by the fall in oil prices, on track, while protecting social spending.” Iraq’s economy has been ravaged by conflict and insecurity, with the sustained slump in oil prices compounding these ongoing issues. Oil used to account for 95% of all government revenues. As a result, the country has spent the last few years wrestling to bring down a budget deficit that has repeatedly surpassed $20bn (more than 10% of GDP), with much of the available revenues sucked up by the war against Isis militants. The government is forecasting a deficit of $19bn for 2017. The IMF did not reveal the size of the expected budget supplement. The 2017 budget, passed in December 2016, envisaged spending of $86bn – a 6% decrease on 2016 levels. http://www.publicfinanceinternational.org/news/2017/06/iraq-plans-additional-budget-access-imf-funds 3 Quote Link to comment Share on other sites More sharing options...
yota691 Posted June 6, 2017 Author Report Share Posted June 6, 2017 06/06/2017 (00:01 pm) - Number of readings: 364 - number (3942) The Amman meeting with the IMF result in a supplementary budget for the current year Baghdad / Zahraa Al-Jassem After the second review of consultations from the standby credit program signed between Iraq and the International Monetary Fund in the Jordanian capital Amman, a senior source said that the two sides had agreed to provide budget supplemental for the current year include contractors and farmers ' allocations recently paid, with the circulation of the federal budget indicators in 2018. The second review consultations began last Thursday and lasted four days, and sought Iraq from which to obtain a loan of about $ 840 million, as part of a standby credit program signed between the two sides. High - level , who preferred anonymity , the source said in an interview (range), that the consultations "ended with great success, and presented the results of the consultations of the Executive Board of the International Monetary Fund at its meeting to be held early next August," He added that Iraq and the IMF international agreed during the consultations to provide budget supplementary to the year 2017, and include the agreed points of contractors and farmers recently paid bills issued by the Ministry of Finance and some other issues of allocations, as well as the circulation of the federal budget indicators in 2018, where the program concludes to reach the so - called fiscal adjustment in the face of Massaa The balance of payments due to oil revenue volatility and its impact on the federal budget, which requires maximizing the non - oil financial resources and reduce spending and deficit financing from the planned sources of internal and external , including parts of the IMF loan, as Iraq is expected to receive a share of $ 840 million in the month next August, out of the total fund of $ 5.3 billion loan. He continues , the source said: The Fund defends the program Alastaqrara overall economy by giving priority loans and public spending to the so - called social spending which areas of education, health , social welfare and displaced persons, where the fund is keen on the subject of sustainability or carrying capacity of public debt, meaning " the ability to pay it " through maximizing revenue and control expenses and control, in order to stabilize the crossing of no crisis in public resources because of the oil crisis and the decline in oil revenues, as well as the Iraq war now being waged against terrorism costs. And it corrects the source by saying that, the financial adjustment program adopted by the International Monetary Fund with Iraq and the targeting of non - oil revenues and control spending, all are ways to maintain the sustainability of reserves at the Central Bank of Iraq. The financial advisor to Ebadi , the appearance of Mohammed Saleh, has explained in response to a question (range), on the importance of these talks, that Iraq is seeking to obtain a loan of about $ 840 million, as part of a standby credit program, for a period of 36 months starting from July 7, 2016, the soft loan of approximately the $ 5.3 billion, paid off over five years, as the program provides financial umbrella for Iraq has more than $ 15 billion, including soft loans from the World Bank and the Group of seven major industrialized countries, with other loans from funding programs Ktogel premiums compensation for the Kuwait war. He chaired the IMF meetings with Iraq, Governor of the Central Bank of Iraq , Ali Ismail Keywords financial advisor to the prime minister the appearance of Mohammed Saleh, with the participation of a number of agents ministries and the President of the Office of Financial Supervision, while attended part of these consultations and for the first time, Deputy Director of the Office of the Prime Minister. The agreement aims to re - balance public finance and external account to calculate and improve public financial management while protecting social spending for Iraq, according to an interview with a former head of the IMF mission (range) and between that Iraq can assume its debt if the Iraqi authorities carried out the agreed financial correction with the Fund under an agreement standby credit. 2 Quote Link to comment Share on other sites More sharing options...
ChuckFinley Posted June 6, 2017 Report Share Posted June 6, 2017 Thanks Yota, there is a ton of banking stories over the last two weeks something is afoot. 4 Quote Link to comment Share on other sites More sharing options...
SnowGlobe7 Posted June 6, 2017 Report Share Posted June 6, 2017 afoot 2 Quote Link to comment Share on other sites More sharing options...
SnowGlobe7 Posted June 6, 2017 Report Share Posted June 6, 2017 afoot 1 Quote Link to comment Share on other sites More sharing options...
ChuckFinley Posted June 6, 2017 Report Share Posted June 6, 2017 That is a serious foot. 1 1 Quote Link to comment Share on other sites More sharing options...
10 YEARS LATER Posted June 6, 2017 Report Share Posted June 6, 2017 33 minutes ago, SnowGlobe7 said: afoot Synchronized swimming is frightening ! 1 Quote Link to comment Share on other sites More sharing options...
yota691 Posted June 7, 2017 Author Report Share Posted June 7, 2017 IMF grants Iraq $ 840 million in August next Economy News Baghdad : According to a source of Mali early, Wednesday that Iraq will happen in the month of August next to the amount of 840 million dollars from the Fund Monetary International within the agreement to prepare the credit that was signed in the year 2015 . Said the source , who preferred not to disclose for his name 's " economy News " , that " the negotiations that held by the delegation of Iraq with the Fund Monetary International in Jordan , which was launched in the day the last of the month last resulted from the agreement Ba divorce , the amount of 840 million dollars from the loan of $ 5 . 3 billion dollars in the month of August next . " He added that the " Fund Monetary International praised the efforts of the government of Iraq in achieving reform and economic " , noting that the " Fund Monetary International promised Iraq to obtain a loan of up to 15 billion dollars and an interest rate of a few very not exceed 2 . 5% ." Views 145 Date Added 07/06/2017 - 12:45 Last updated 06/07/2017 - 13:29 No. Content 7839 2 Quote Link to comment Share on other sites More sharing options...
ChuckFinley Posted June 7, 2017 Report Share Posted June 7, 2017 Singer sting that yet another grant / loan being granted. There is a ton of money. 2 Quote Link to comment Share on other sites More sharing options...
Big_J Posted June 7, 2017 Report Share Posted June 7, 2017 1 Quote Link to comment Share on other sites More sharing options...
Officiallytook Posted June 7, 2017 Report Share Posted June 7, 2017 Quote Link to comment Share on other sites More sharing options...
Golfnsr Posted June 7, 2017 Report Share Posted June 7, 2017 On 5/3/2017 at 3:36 PM, WheresmyRV? said: Just more money for their corrupt politicians to steal, I'm starting to really wonder if this will ever happen My feelings also. 3 Quote Link to comment Share on other sites More sharing options...
Half Crazy Runner Posted June 7, 2017 Report Share Posted June 7, 2017 18 hours ago, 10 YEARS LATER said: Synchronized swimming is frightening ! it's the eyeshadow that they wear ... 😳 🤡 1 Quote Link to comment Share on other sites More sharing options...
NoviceInvestor Posted June 7, 2017 Report Share Posted June 7, 2017 (edited) Another loan... and each time they are granted a loan the amount of money it is sometimes double +the amount of the previous loan.. Imagine trying to pay them back with worthless currency. Edited June 7, 2017 by NoviceInvestor 1 Quote Link to comment Share on other sites More sharing options...
crane Posted June 7, 2017 Report Share Posted June 7, 2017 I have been saying this all along,it goes like this, its all about control ,and in a lot of ways it has been put upon the people in the same way,its called credit, to us small potatoes its credit cards, they bleed you to death, same way the Banks and powers that be the{ dark side},they just bleed these countries, of there resources, only on a Grand Scale, it has become the cheaper way, to take over or control what ever you want, to call it,it is Economic War Fare, they will get ownership of all the oil, and than whats left is the crumbs for the people of the country and they will need more money ,and than the IMF or who ever will say don't you have some Gold ,and the game starts all over again , I think if a person steps back and looks at the whole scene since the invasion of Iraq one will start connecting the Dots,interesting side note, President Bush and the oil Family ? Who was it? That blamed Iraq for 911, and only later to find out it was Saudi Arabia was to blame,but that's all forgotten, Hey nothing personal, its just business. The only fly in the ointment I see right know, and I think the dark side is having problems with, is the threat of more little wars with in the country, this creates unstabliness and this is not good for business, so maybe there is still hope for us ,the powers that be will have to throw the people a bone of some kind, and I am hoping at this point it will be some type of increase in there money value, that would make everybody happy for awhile, me for one. 2 Quote Link to comment Share on other sites More sharing options...
Wiljor Posted June 7, 2017 Report Share Posted June 7, 2017 IMF REACHES AGREEMENT ON STAND-BY ARRANGEMENT WITH IRAQ Iraq, June 7, 2017 The Iraqi authorities and an International Monetary Fund (IMF) team reached a staff-level agreement on the second review of the Stand-By Arrangement (SBA) that was approved by the IMF Executive Board on July 7, 2016 (See Press Release No. 16/321). The SBA aims to restore fiscal and external balance and to improve public financial management while protecting social spending. Iraq completed the first review under the SBA on December 5, 2016 and received a disbursement of SDR 0.46 billion (US$0.6 billion) (See Press Release No. 16/540). Completion of the second review will release a further disbursement of SDR 0.6 billion (US$0.8 billion). Mr. Christian Josz, Mission Chief for Iraq, issued the following statement today in Amman: “The Iraqi authorities and the IMF team have reached agreement on a supplementary budget for 2017, objectives for the 2018 budget, and strengthened procedures to keep expenditure under control. Both the supplementary 2017 budget and the 2018 budget will keep the fiscal consolidation, necessitated by the fall in oil prices, on track, while protecting social spending. “Once agreed prior actions have been implemented, the IMF Board could consider the second review of the SBA in August. “During the discussions, the team met with Acting Governor of the Central Bank of Iraq (CBI), Dr. Ali Mohsen Ismail Al-Allaq, Deputy Chief of Staff of the Prime Minister, Dr. Naufel Al-Hassan, Chairman of the Board of Supreme Audit, Dr. Salah Noori Khalaf, Acting Deputy Finance Minister, Ms. Taif Same, Deputy Minister of Planning, Dr. Qasim Enaya, Deputy Minister of Electricity, Mr. Abdel Hamza, Financial Adviser to the Prime Minister, Dr. Mudher Saleh, and officials from the ministry of finance, Central Bank of Iraq (CBI), the Board of Supreme Audit, the ministry of oil, the ministry of planning, the ministry of electricity, 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.” businessnews http://iraqdailyjournal.com/story-z15415668 1 Quote Link to comment Share on other sites More sharing options...
yota691 Posted June 8, 2017 Author Report Share Posted June 8, 2017 of Iraq gets a loan of 3.5 billion dollars from the International Monetary Fund 6 hours ago Twilight News / Iraq get a soft loan worth 3.5 billion US dollars by the International Monetary Fund , as stated by Wednesday , Iraqi Prime Minister for Financial Affairs Advisor to the appearance of Mohammed Saleh. He explained that the Fund will also provide an additional international financial umbrella by about $ 13 billion , both from the seven major international bank or industrialized countries or the postponement of compensation for the Kuwait war. He pointed out that the Fund seeks through the second review to provide a framework for macroeconomic stability and in the course of financial adaptation leads to maximizing non - oil revenues as well as to enable Iraq to pay its debts in accordance with the mechanism of the so - called debt to bear energy. 1 Quote Link to comment Share on other sites More sharing options...
ChuckFinley Posted June 8, 2017 Report Share Posted June 8, 2017 Grants and loans, all kinds of money being thrown at Iraq. Something is up. 3 Quote Link to comment Share on other sites More sharing options...
yota691 Posted June 8, 2017 Author Report Share Posted June 8, 2017 3 hours ago, crane said: and only later to find out it was Saudi Arabia was to blame,but that's all forgotten, With the news of Qatar from the past few days, states that Qatar fund the 911 attacks per the documents provided. 2 Quote Link to comment Share on other sites More sharing options...
nannab Posted June 8, 2017 Report Share Posted June 8, 2017 Really Yota Qatar funded our 911 attacks and documents to prove it?? Oh no no no they should be wiped from the face of the earth asap YESTERDAY, God forgive me. Quote Link to comment Share on other sites More sharing options...
yota691 Posted June 8, 2017 Author Report Share Posted June 8, 2017 Iraq gets a loan of 3.5 billion dollars from the International Monetary Fund Number of readers: 115 Iraq gets a loan of 3.5 billion dollars from the International Monetary Fund 08-06-2017 01:39 PM Euphrates - Iraq received a soft loan worth 3.5 billion US dollars by the International Monetary Fund. He explained the appearance adviser to Prime Minister Mohammed Saleh in a press interview, that the Fund will also provide an additional international financial umbrella by about $ 13 billion , both from the seven major international bank or industrialized countries or the postponement of compensation for the Kuwait war. He pointed out that the Fund seeks through the second review to provide a framework for macroeconomic stability and in the course of financial adaptation leads to maximizing non - oil revenues as well as to enable Iraq to pay its debts in accordance with the mechanism of the so - called debt to bear energy. 3 Quote Link to comment Share on other sites More sharing options...
Big_J Posted June 8, 2017 Report Share Posted June 8, 2017 Quote Link to comment Share on other sites More sharing options...
Popular Post DinarThug Posted June 12, 2017 Popular Post Report Share Posted June 12, 2017 CNN. Broadcasting While linking the Iraqi dinar to the dollar allowing a pillar of the economy ! (by don961) The agreement with {IMF} improves the credit rating of Iraq 6/13/2017 0:00 Baghdad / Emad emirate to pay off the deficit in the 2017 budget the government requested from the IMF and other international bodies to borrow them taking advantage of the global trend to support Iraq in the fight against terrorism. Economic academic d. Ahmed Omar al- Rawi said the "morning": The International Monetary Fund called on Iraq to conduct a large correction process is to cut capital spending while protecting social spending and communication in linking the Iraqi dinar to the dollar allowing a pillar of the economy. He added: Iraqi economic reform, which is supported by the standby credit with the International Monetary Fund program aims to address the needs of the balance of urgent payments and access spending to a level commensurate with the decline in world oil prices and ensure the sustainability of the debt within the tolerable, the program also includes measures to protect the poor and the strengthening of financial management public support for the stability of the financial sector and curb corruption. The transfer of the narrator of the report by the IMF in his report by saying that Iraq is committed to the requirements of readiness external credit and should be implemented gradually improve the fiscal adjustment and the salaries of retirees and repair of electricity and state - owned enterprises sector elements to make way for greater investment spending, but more effective and efficient to support growth. He continued Narrator: by the Executive Board of the IMF has agreed to implement readiness credit agreement signed with Iraq for a period of three years , a pact aimed at helping Iraq in the implementation of the economic reform program and restore fiscal balance in the long average. Rawi confirmed that the agreement with the International Monetary Fund will help to issue international financial bonds and improve Iraq 's credit rating in financial institutions, and the agreement with other countries to get loans, it has authorized the general budget for the year 2017, Minister of Finance Act signed agreements with creditors already and parliament agreed to finance the budget deficit of 7.21 trillion Iraqi dinars , equivalent to 319.18 billion. IMF Executive Board also completed a review of financing assurances under the standby credit agreement, and the Executive Board had approved its $ 831.3 billion rights unit to withdraw any special agreement estimated to be 34, $ 5 billion at the date of approval. Rawi confirmed that under this consent for Iraq may be 455 units exchange special drawing rights , about 8817 million dollars as the Executive Council also agreed to Iraq's request to be excused from the declaration of non - compliance with the maximum continuous external arrears and the request to amend the performance standards, as the Council approved the request to exempt Iraq from the applicability of the goals of the end of last September to four performance standards regarding the minimum total international reserves and the maximum net domestic assets of the Central Bank of Iraq and the maximum arrears owed to the list of international oil companies and the maximum balance of total public debt requirement , In addition to the request to amend the stages of implementation of the Agreement, it was agreed to hold meetings to follow up on the standby credit between the Fund and Iraq. At the last meeting in Amman between Iraq and experts of the International Monetary Fund to follow up the readiness of the Trust Fund noted in his closing statement that Iraq is under financial pressure as a result of growing public and security spending for continued weakness in oil prices , causing a deficit of 12 percent of gross domestic product, which led to a decline in financial reserves Central Bank of $ 53.7 billion in 2015 to $ 46.5 billion the end of the year 2016, described the Fund 's statement of financial reserves of the Central Bank of Iraq as the value in a comfortable position. He said the IMF said in a statement that the public debt of Iraq increased rate of 32 to 64 percent of GDP during the period 2014-2016 requires further structural reforms in the Iraqi economy, including the banking sector reform to support the growth process and to promote business and reduce environment corruption, the IMF estimated that the risks remain as a result of the uncertainty of oil prices and the lack of security, political stability and weaknesses in aspects of management. The expected credit agreement with the International Monetary Fund to improve confidence in Iraq and get more financial aid from institutions and creditor nations, and will agree to provide additional international assistance to Iraq worth $ 15 billion , as well as some of the facilities , including helping Iraq to ease the burden of repayment obligations with Club Paris. http://www.alsabaah.iq/Article.....?ID=139041 21 Quote Link to comment Share on other sites More sharing options...
SnowGlobe7 Posted June 12, 2017 Report Share Posted June 12, 2017 Why when I get more loans...my credit rating goes down ..not up???? 2 Quote Link to comment Share on other sites More sharing options...
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.