Report: Saudi Arabia seizes 48% of foreign currency reserves for Arab countries

[nannab]

Ah ah I just cooked his playmate I was hungry   

[SnowGlobe7]

lol yummmmmmmmmm!!

[nannab]

When this hits I will come get you and family if you like fish

and have a NE clambake. And while that is cooking we can torment boo

with a couple of big lobsters and a couple of crabs in the kitchen. 

[SnowGlobe7]

I am so in...I would love to give you a huge hugg!!!!

[jg1]

Can we do a pot luck.  I will being my appetite.

[SnowGlobe7]

oh yea!!!!!

 

[RJ45]

Am I invited? I can bring my famous vanilla bourbon-topped brown sugar cheesecake!  

[SnowGlobe7]

YES..

wait how big is your house nanna???

[nannab]

Three bedroom. Oh when this goes we go straight down to Martha's Vineyard cape Cod rent to own or purchase

 on the spot a I dunno 6 bedroom with 5 bathrooms big house on the water. After all of these years I am getting waited

on. Or maybe I can rent the Adam's mansion which is not far from my house you know Pres.John Adams and wife Abigail's

house take a tour of his birth place then go to the burial sight where both father and son John Quincy Adam's are.   There is quite a lot of history here it is great. Hey it does not hurt to dream. 

Edited July 21, 2017 by nannab

[nannab]

3 hours ago, jg1 said:

Can we do a pot luck.  I will being my appetite.

The more the merrier jg1 

 

2 hours ago, RJ45 said:

Am I invited? I can bring my famous vanilla bourbon-topped brown sugar cheesecake!  

 

Absolutely !!   

 

SnowGlobe I think that the house is out we will need a compound .  I wonder if the Kennedy's are using theirs.

[SnowGlobe7]

18 hours ago, nannab said:

The more the merrier jg1 

 

 

Absolutely !!   

 

SnowGlobe I think that the house is out we will need a compound .  I wonder if the Kennedy's are using theirs.

 

I love how you think...it would be such a blast!!!!!!

 

 

[Shelley]

 

19 hours ago, nannab said:

The more the merrier jg1 

 

 

Absolutely !!   

 

SnowGlobe I think that the house is out we will need a compound .  I wonder if the Kennedy's are using theirs.

Carrello and I will be stopping by for a drink !! 

[nannab]

Good food good people what more could you ask for.

[ChuckFinley]

1 hour ago, nannab said:

Good food good people what more could you ask for.

You could ask for Chuck Finley and he better bring something good.  

[yota691]

2017/07/22 (00:01 PM)   -   Number of readings: 461   -   Number (3975)

 

 

Spending $ 360 billion in 10 years on investment and the result disappointing

 Baghdad / Range 
 

The financial adviser to Abadi, the appearance of Mohammed Saleh, that the file of debt is a "serious files," noting that the International Monetary Fund "is working to determine the level of tolerance of Iraq's public debt," did not forget that Iraq "faces a problem in customs and border crossings, the government is moving to outsource outlets to specialized companies. 
Saleh asserted at a seminar organized by the "Institute for the progress of development policies" in Baghdad , attended by officials and experts in economics and finance, the investment file in Iraq , the results were not in the level of funds spent, amounting to $ 360 billion over 10 years, from During the inclusion of a large number of projects The country 's rise , "adding that" the result was disappointing with that it was in the time of oil abundance " In the era of oil, the trend was to increase the quantities of oil produced and the source to compensate for the difference in prices through investment in the oil sector, which is unbalanced and leave the leadership of the oil sector, and that means to return to zero point, namely that oil is the horse driving the development vehicle. 
According to official reports issued by the Iraqi state, Iraq's internal debt since 2004 to date is 45.4 trillion dinars, while the Economic Committee in the House of Representatives, Iraq has allocated 5.6 trillion dinars to pay the benefits of domestic and external debt. 
On the work of the Central Bank of Iraq and its role in the face of the financial crisis experienced by the country, the financial adviser to the Prime Minister appearance of Mohammed Saleh, that the Central Bank of Iraq was independent of the government in the first period, but when the economy faced a deficit began this independence weaken, Lending the government to become independent to the second degree, continuing: However, the policy of the Central was the main reason for the victory of Iraq in its war against terrorism, through the national role of the hidden in the support of the government, and crossing the stage of danger. He said Saleh: The Central Bank had two options, either to abandon his independence and lend the government in light of The situation is complicated or devalues the Iraqi dinar, and here may provide some funds for the government, but also we will be in front of a large rise in inflation rates, and will not be for these funds that have any value, so sacrificed central bank independence of the internal and lend the government to face the crisis of stability, pointing out: The loan amount of the government reached 21 trillion d R in two years, to meet its needs, it is part of the victory in the war against terrorism through the funding of the budget, check the military victory, which was behind the victory of a financial and economic. The financial and monetary stability in Iraq faces the phenomena of non-oil deficit resulting from the difference between domestic revenues and expenditures, amounting to (78 trillion dinars), or about (70 billion dollars), according to a speech by the Governor of the Central Bank Ali Alallak during the symposium, pointing at the same time: to The second phenomenon is the increase in the budget deficit which reached (21.6 trillion dinars), which is supplemented by the deficit of the balance of payments other than oil exports of 37.7 billion dollars, and these negative indicators clearly reflect a major structural imbalance. 
The relations considered improving the reality of monetary and financial policy requires the strengthening of domestic revenues and the activation of the policy of redistribution of income to move the wheel of the economy, by taking advantage of the cash mass in the markets and the salaries, which go a large part to cover external imports, The need to pressure operating expenses in accordance with strict controls and scientific standards, and reduce the factors of demand for foreign currency and provide elements of stability to reduce the migration of funds, as well as provide an attractive environment for investment. 
A member of the Committee on Economy and Investment Mahdi Al-Hafiz, also mentioned the difficulties facing the Iraqi economy, adding: The abnormal state of fiscal policy raised the importance of thinking about new sources to strengthen the financial situation, especially through cooperation with the Bank and the International Monetary Fund, The start of the so-called credit phase provides parts of external financing from these organizations and other sources. The Government initiated the agreement with the International Monetary Fund by the end of 2015 with this objective, through the issuance of the so-called "Letter of Intent" and " And finance ". 
Al-Hafiz said that the credit phase includes a set of basic tasks, including reconsidering the fiscal policy and issuing a new law, restructuring the banking sector and confirming the review of the financial statements of Rafidain, Rasheed and Iraqi Trading Banks, which account for about 90 percent of deposits Stressing that the credit phase confirms the subject of monetary policy to control, especially in areas related to money laundering and the dollar sale window, and address the deficit in the public budget and seek to make it economically acceptable, and considered that these measures will help in obtaining loans And make positive cooperation with international institutions. 
He said at the end of his speech: That the recent period saw the issue of supplementary budget for this year, and discussed the details during the last meeting in Amman a month ago, and agreed to provide a loan of 800 million dollars to Iraq, on concessional terms within the program of credit readiness signed between the parties ». He did not rule out the IMF's approval in early August. 
Iraq is facing a severe financial crisis, caused by the drop in world oil prices for more than half, and the fierce war against the terrorist organization (Da'ash), which led to the adoption of austerity policy led to the cessation of most projects in the provinces.

[jg1]

Iraq is facing a severe financial crisis, caused by the drop in world oil prices for more than half, and the fierce war against the terrorist organization (Da'ash)........Uhhhhhhh, annnnd..... The corrupt officials that took 200 billion +. 

 

 

[yota691]

International Monetary Fund: Iraq's foreign reserves will fall next year to 40.8 billion dollars

Logo of the International Monetary Fund

Economy News Baghdad:  Iraq has completed the second review of its credit program, signed with the International Monetary Fund in 2015 for a loan of 5.4 billion dollars, and that the International Monetary Fund, Iraq to obtain other loans with interest does not exceed 3%.  The IMF published a table on its website, showing its expectations for the Iraqi economy and viewed by the "economy News", said that "Iraq's share in the International Monetary Fund amounted to 1663.8 million special drawing units," expected "negative change in gross domestic product 0.4% during This year to recover in the next year by 2.9%, while the average per capita gross domestic product gross 5958 dollars during the current year.  The International Monetary Fund, in the table that "oil production of 4.7 million barrels per day and will rise next year to 4.7 million barrels, while oil exports 3.8 million barrels, and the price of a barrel of Iraqi oil is 45.3 dollars," noting that "inflation in consumer prices is 2 % ". He pointed out that "the total domestic investment is 19.7% of GDP, of which 11.1% in the public sector, while total domestic consumption 85.1% of GDP," adding that "tax revenues of 4.6% He noted that "the cash reserve amounts to 41.4 billion dollars and will fall next year to 40.8 billion dollars," explaining that "the cash reserve covers 6.2 months of imports of goods and services."   Views 2   Date Added 03/08/2017

[WheresmyRV?]

They're going to have to stop dragging their feet and open up their private sector before this is a lost cause.

[yota691]

Quote

"tax revenues of 4.6%

With the news of late that above # will change to double digits...

[3n1]

22 minutes ago, WheresmyRV? said:

They're going to have to stop dragging their feet and open up their private sector before this is a lost cause.

 

agree , not sure if laws are not in place yet or what but a free market economy instead of everything run by baghdad is where its at for freedom and prosperity imo and of course an international currency  

[Carrello]

If you have read the IMF 5 year plan, you would know this fall of reserves to $40 billion is part of the plan.  Don't panic. 

 

Shelley, if you aren't going to bring an Italian dish, I don't know if I can make it.

[Wiljor]

Iraq, August 3, 2017 

The International Monetary Fund (IMF) has predicted average growth of 3.1 percent annually in Iraq’s non-oil real GDP until the end of 2022.

This compares to an average fall of 7.2 percent per annum from 2014 to 2016, following the insurgency by the Islamic State group (IS, ISIS, ISIL, Daesh).

It also forecasts a steady fall in government debt as a percentage of GDP, and an improving trade balance, but makes no prediction for the exchange rate of the Iraqi dinar to the US dollar.

businessnews

http://iraqdailyjournal.com/story-z15698429

Edited August 3, 2017 by Wiljor

[Boozer]

wow that's better than our 2.6 GDP, CBI will make the change in the Dinar when the UN gets off its azz and puts them in Chapter 8 

[yota691]

International Monetary Fund: Iraq's economy has declined and its reserves have fallen to 45 billion dollars

Economy News _ Baghdad The International Monetary Fund considers that Iraq is currently facing a dual economic challenge of compensating for the material losses caused by the war against Daqash, as well as the decline in oil production and prices. The IMF said in a report on Wednesday and followed by "the economy News", that in 2016 real GDP rose to Iraq by 11 percent, as a result of a rise of 25 percent in oil production, "which was not much affected by the conflict with" urged "at the time. The report added that he expects the economic activity this year will not see any increase due to a 1.5% drop in oil production due to Iraq's commitment to the agreement of the OPEC oil exporting countries and outside to reduce the level of production and also because of the very modest recovery of non-oil sectors. He pointed out that "the decline in oil prices led to a decline in Iraq's foreign currency reserves from 54 billion US dollars by the end of 2015 to 45 billion at the end of 2016, saying that" the financial pressure continued as the government deficit increased to 14 percent of GDP in 2016 after It was 12 percent in 2015. " However, the outlook for medium-term growth appears to be positive due to the expected improvement in the security situation and readiness to implement several infrastructure projects, although the risks remain high due to continuing security and political tensions, the IMF said. Kuwait has been in contact for a long time with the countries of the world, the World Bank and Iraq itself to prepare for hosting a conference donors for the reconstruction of the liberated areas of Iraq, "Daash," which may be held in the first quarter of next year.     Views 17   Date Added 08/10/2017

[Bama Girl]

35 minutes ago, yota691 said:

due to Iraq's commitment to the agreement of the OPEC oil exporting countries and outside to reduce the level of production

I thought Iraq was exempt from this agreement. Guess I was wrong🙄😏