scooter chat 07-18-10

[Adam Montana]

Fantastic posts, Scooter!

[J T Adams]

DinarVet Team,

To the folks that just made the recent NEGATIVE comments, READ THE PLANS BEFORE MAKING SUCH STUPID COMMENTS ABOUT MY WORK!!!! I spend countless hours to benefit others and I do this free of charge and ask nothing in return! My integrity is the only thing I will go to the grave with and I intend to keep that at the highest level possible.

So here's my comments --- READ THE DOCUMENTS FROM THE SAME PEOPLE THAT DO RV'S EVERY SINGLE DAY!!!!!!!!!!!!!!! IF YOU DON'T BELIEVE THEM -- SEND YOUR COMMENTS TO THE UN, WORLD BANK, AND IMF --- FRANKLY I DON'T CARE --- JUST DON'T SEND THEM MY WAY UNTIL YOU HAVE CREDIBLE PROOF THAT THE PLAN HAS BEEN ALTERED. TRUST ME, I'VE SAVED THE BEST FOR LAST!!! THE ACTUAL LAW OF IRAQ SHOWING THE NUMBERS AND TIMING --- UNTIL YOU HAVE COME UP WITH THAT --- THIS DEBATE IS OVER!!!

SEE BELOW TO START:

World Bank IRAQ DPL (Page 8 of 119) ---- World Bank IRAQ DPL

The Program faces significant risks, which include:

"Political and economic performance risks. The ability of the Bank Group to engage with Iraq would become constrained by a reversal of recent, hardwon security gains. Related to that, a deterioration in the political environment either in Iraq or in the Region would also affect the Bank’s ability to implement its assistance program. The DPL could also be affected by risks related to the Government’s commitment to an ambitious reform program at this time. In particular, the design of a robust program acceptable to the Iraqi authorities might be challenging in an electoral year iv and during a time where oil prices have started to rise anew. Likewise, a new Government post elections may not agree to implement the same program. Given these political uncertainties, the operation has been designed as a single tranche DPL as part of a programmatic series of two DPLs. This DPL is underpinned by a reform agenda already adopted by the current Government. In addition, this reform program is being implemented with support through ongoing technical assistance programs by the Bank, IMF and other donors. It has also been designed to be realistic, yet consist of important reforms and milestones, complementing existing Government reforms supported by ongoing TA activities, each with their own risk mitigation measures, and opening the door for the Bank to engage with the Government in the medium to long term on critical issues to improve Iraq’s fiscal sustainability. The programmatic approach

of this DPL will also help mitigate the risk of relevance and ownership across Governments."

Page 10 -- Same World Bank Document

6. Through the reform program that underpins it, the proposed operation will help focus attention on key reforms critical to Iraq’s longer-term development. These reforms are reflected in a set of prior actions to be completed before the proposed operation becomes effective, as well as on triggers for the second DPL in this proposed series. These reforms focus on: (i) strengthening budget management and prioritization; (ii) reforming the financial sector; and (iii) improving the efficiency of the social protection system. They are consistent with the thematic areas of the Bank’s Interim Strategy Note 2009-2011 for Iraq. The prior actions focus largely on institutions and processes. This is because many of Iraq's institutions were rendered dysfunctional during the past thirty years of authoritarian rule followed by war. As a result, they need to be substantially modified to fit the needs of a modern democratic state.

Page 30

77. Underpinning the whole program was a major effort aimed at strengthening the regulatory and supervisory authorities. CBI embarked on a comprehensive program of capacity building covering extended areas of the regulatory and supervisory functions, with the objective of moving from compliance to risk-based supervision. This includes undertaking a thorough and comprehensive review of banking supervision processes; an updating and enforcement of a set of regulations in line with international 22 standards; and making new recruitments and developing training. These initiatives are supported by the World Bank, the IMF and the US Treasury.

102. In all three pillars of the proposed DPL, the underpinning technical assistance projects are funded through the multi-donor Iraq Trust Fund (ITF) financed by contributions from 17 donors15

and administered by the World Bank. The status of ITF projects is reported regularly through the International Reconstruction Fund Facility for Iraq (IRFFI) website and through annual formal reports to donors

Page 41 --- Same Document

107. The proposed DPL is underpinned by six key ITF-financed companion projects designed to build capacity and provide technical assistance in each of the three pillars, namely:32

Public Financial Management (PFM) Reform Project (US$18 million; FY09). This project aims to improve allocation, execution, transparency and accountability in the mobilization and use of all public resources. Cross-cutting reform of the PFM will be addressed by strengthening budget formulation, execution and control, improving public financial reporting, strengthening

public procurement and developing capacity in PFM, both at the central and the governorate levels.

Emergency Banking Sector Reform Project (US$10 million; FY09), which supports the implementation of Phase I of the Banking Sector Reform Strategy—Action Plan (2008–2012),

aiming at improving the performance and soundness of the two state-owned banks—Rasheed Bank and Rafidain Bank, as well as strengthening the capacity of the supervisory functions of the Central Bank of Iraq.

Page 45 - Same Document

125. In addition to the Bank’s stocktaking specific to the Iraq context, the 2009 Development Policy Lending Retrospective19 indicates that programmatic DPLs have allowed the Bank to stay

aligned with country processes and respond more flexibly to changing country circumstances and government priorities, and that this flexibility has been essential to strengthen ownership of

reforms supported by the Bank. The programmatic nature of this DPL is suitable for Iraq’s changing circumstances which require flexibility, particularly given upcoming elections and therefore ownership of and commitment to the reform agenda.

THERE ARE SO MANY MORE REFERENCES IN THIS DOCUMENT, BUT HONESTLY -- YOU NEED TO READ FOR YOURSELVES BEFORE MAKING THOSE COMMENTS ABOUT MY WORK!

--------------------------------------------------------------------------------------------------------------------------------

IMF Document 1072 -- IMF "UNDERPINNING"

PAGE 2

The main objectives of the program are to maintain macroeconomic stability during a period of high economic and political uncertainties (parliamentary elections are scheduled for March 7,

2010), and to provide a framework for deepening structural reforms.

PAGE 7

8. Parliamentary elections are scheduled for early March 2010. These follow the first parliamentary and provincial elections successfully held in January 2006 and January

2009, respectively. While the elections could result in a change of government, the main orientation of economic policies is not expected to change.

PAGE 25

50. The authorities’ economic program for 2010–11 is well focused on maintaining macroeconomic stability and advancing the unfinished reform agenda. The program will provide an anchor for economic policy during a period of economic and political uncertainties. Also, it will ensure that no time will be lost during the period of political transition after the elections in improving infrastructure and public service delivery and implementing critical reforms to strengthen fiscal governance, enhance oil sector transparency, and develop a financial sector capable of providing essential services.

PAGE 82

Against this background, the authorities have designed an economic program for 2010–11 that aims to maintain macroeconomic stability during the period of political transition

(parliamentary elections are scheduled for early March 2010) and deepen structural. reforms, particularly in the areas of public financial management, the financial system, and oil sector transparency. In support of this program, the authorities have requested a new Stand-By Arrangement from the IMF in the amount of SDR 2,376.8 million ($3.6 billion). This amount, together with disbursements from the World Bank under a Development Policy Loan and support from some donors, is expected to cover the financing gap for 2010–11. An important objective of the authorities’ fiscal program is to contain current spending in order to gradually reduce the budget deficit and make room for additional investment. Specifically, current spending in both 2010 and 2011 will be kept broadly unchanged in nominal terms at 2009 levels. At the same time, given the urgent need to improve infrastructure and basic public service delivery, a significant

increase in capital spending is planned for 2010, following an underexecution of the 2009 capital budget due to administrative capacity constraints associated with security

incidents that affected the Ministry of Finance towards the end of the year. Monetary and exchange rate policies will continue to aim at keeping inflation low in 2010 and 2011.

I could go on and on with different documents identifying this plan --- my recommendation --- READ THE DOCUMENTS BEFORE CALLING ME OUT!!!!

-----------------------------------------------------------------------------------------------------------------------

To those who have offered their thanks and gratitude, have a great night and I am most appreciative!!!!

Best regards,

Scooter

You are a very sharp cookie. Are should I say pretty sharp Scooter.!!

You are a very sharp cookie. Or should I say pretty sharp Scooter.!!

[Bobbydee]

Thanks Scooter for all your dedication and hard work. All naysayers must simply be removed from sites. It's ok to have a negative opinion about things, but there's a proper way to present your case. Bashing should be BANNED. Thanks DK for the post. God Bless Semper Fi

Edited July 20, 2010 by Bobbydee

[dreedree125]

Super job Scooter as always. I love your posts.

Edited July 20, 2010 by dreedree125

[slatesrh]

Scooter, you are the man!!

Please don't these peeps get to you, Negativity usually comes from someone who brings nothing but takes from everyone!

Please keep doing your thing!!

We THANK YOU!

Ditto

Thanks Scooter

[lgraham]

Scooter,

You know we love you. 4,144 views here. 298 views over there. Bring it on baby!

Great stuff Scooter,

Lgraham

[Eddinar]

You are a very sharp cookie. Are should I say pretty sharp Scooter.!!

Great Job Scooter...I appreciate your intelligence and posts...