HOT: IMF Discusses Strengthening The Iraq Dinar.

[Luigi1]

Here's some articles of Dinarian interests...

-IMF Discusses Strengthening Iraq Dinar.

-A Date Set For Submitting The Budget Tables.

-HCL Dispute Resolved.  Kurds To Get Paid.

Treat as rumors.  Not verified.  Your opine.

 

 

TNT via Tishwash:   IMF Discusses Strengthening The Iraqi Dinar.

ARTICLE:  Iraq's delegation concluded its meetings with the International Monetary Fund (IMF) in Amman (February 24-26), with participants including Minister of Finance Taif Sami & the Gov of the Central Bank of Iraq (CBI).

 

Discussions focused on Iraq's economic performance & sustainable growth prospects, with the IMF acknowledging the progress made.

 

Key Discussions Included:

-Non-oil GDP growth of 5% in 2024, driven by agriculture expansion & increased public spending, with 3.5% growth   expected in 2025.

-Reduced dependence on oil revenues, improving economic diversification & stability.

-Review of actual 2024 expenditures and 2025 revenue forecasts, alongside strategies for deficit financing.

-Public debt strategy update, ensuring fiscal sustainability & investor confidence in government bonds.

-Financial sector reforms, with the IMF stressing the importance of banking modernization to attract foreign capital.

-Expanded collaboration with international correspondent banks to facilitate trade financing.

-Increased use of the Iraqi Dinar in major transactions to strengthen the national currency.

 

The IMF reaffirmed its support for Iraq's financial policy development, offering advisors & experts to assist the Ministry of Finance in public debt management & tax system improvements.

 

The meetings underscored Iraq's commitment to fiscal reforms, promoting economic stability & investment-friendly policies, in line with its strategic partnership with the IMF.

 

-Tishwash:    A Date Has Been Set For Submitting The Budget Tables To Parliament. 

Deputy Chair of the Parliamentary Finance Committee, Ikhlas al-Dulaimi, ruled out the government's submission of Budget Schedules within the next two months on Wednesday, while confirming that the 2025 Budget amounts to 216 trillion Iraqi Dinars.

 

Al-Dulaimi said, "The Ministry of Finance has not yet sent the 2025 Budget Tables to the Council of Ministers, even though they were supposed to be sent in October 2024, in accordance with the Financial Management Law, for approval before the start of the new year."

 

She added, "The total Budget amount is 216 trillion Dinars, while actual spending is estimated at about 160 trillion Dinars."

 

Al-Dulaimi ruled out "sending the tables to the House of Representatives within the next two months," noting that "the Ministry of Finance has not yet completed their preparation, which could lead to the postponement of Budget approval until AFTER the 2025 elections."

 

Last February, the Iraqi Parliament voted on the draft law amending the 1st law of the Federal General Budget Law of the Republic of Iraq for the fiscal years (2023 - 2024 - 2025) No. (13) of 2023.

 

-Tishwash:   Kurdistan Region Confirms Oil Sales Through SOMO: We Will Give Our Money To Baghdad.

The Kurdistan Regional Government (KRG) on Wednesday affirmed the region's firm position to implement an amendment to the Budget Law, allowing the region's oil to be exported & sold through SOMO, with the proceeds returned to the federal Ministry of Finance.

 

A statement issued by the Kurdistan Regional Government's Council of Ministers, seen by Al-Eqtisad News, said, "The President of the Council, Masrour Barzani, held a meeting attended by his deputy, Qubad Talabani, during which the PM instructed the Ministry of Finance & Economy to prepare a schedule for distributing salaries to Kurdistan Region employees for the month of February, after the deposit of 958 billion Dinars into the ministry's account for that month."

 

The Council decided to begin distributing salaries starting tomorrow.  All ministries & institutions were also tasked with preparing March payrolls as soon as possible & sending them to the Federal Ministry of Finance, with the goal of disbursing them before the Eid al-Fitr holiday.

 

The statement confirmed that "in the 1st part of the meeting, Kamal Mohamed Saleh, Acting Minister of Natural Resources, reviewed the latest developments in the joint meetings between the Ministry of Natural Resources & the Federal Ministry of Oil, in the presence of representatives of oil companies."

 

The minister explained the efforts being made to resume the region's oil exports within the framework of the federal Budget Law. The Council of Ministers commended the Ministry of Natural Resources' efforts to accelerate the process of resuming oil exports & its joint work with the Iraqi Ministry of Oil to resolve the obstacles related to the process. 

 

The Council also affirmed the "regional government's firm position to implement the amendment to the Budget Law so that the region's oil is exported & sold through SOMO and its revenues are returned to the federal Ministry of Finance." 

 

 

Luigi's two cents worth:

The Budget may be delayed until after the 2025 election.

This should not have any direct effect on the RV-RI release date & rate.

The good news is...the IMF recommends strengthening the Iraqi Dinar.

It appears the dispute with the Kurds over getting paid has been resolved.

All Kurdish oil will be turned over to Bafhdad.

This is the Erbil Agreement or HCL.

All good news yet DO keep in mind the RV-RI is a separated action from HCL & the Budget.

IMHO.

[Luigi1]

Here's Wolverine's two cents worth...It's going to get released...

 

Wolverine:    It's Going To Get Released.

ARTICLE:  Big Bond Holders are flying to the US right now. 

We have big news that this is the week we have been waiting for.

There is good news from Iraq that it’s going to get released.

We’re hearing good news from lots of platforms.

[BETTYBOOP]

At the rate these clowns are  moving they will have passed a tripartite budget back in 2023 which has never been fully utilised because they never opened a budget. The finance committee need to go back to school because they consistently fail in producing the budget within any set time frame and constantly need to recalculate  said budget! 

[umbertino]

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IMF Discusses Strengthening Iraq Dinar

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At last....Just do it and let's get it over with......

[screwball]

7 hours ago, Luigi1 said:

Al-Dulaimi ruled out "sending the tables to the House of Representatives within the next two months," noting that "the Ministry of Finance has not yet completed their preparation, which could lead to the postponement of Budget approval until AFTER the 2025 elections."

oh well lets see what happens...propaganda machine working over drive

[screwball]

1 hour ago, umbertino said:

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IMF Discusses Strengthening Iraq Dinar

End Quote

 

At last....Just do it and let's get it over with......

nike it baby! just do it!

[screwball]

7 hours ago, Luigi1 said:

This should not have any direct effect on the RV-RI release date & rate.

The good news is...the IMF recommends strengthening the Iraqi Dinar.

It appears the dispute with the Kurds over getting paid has been resolved.

agree

[psdon]

THEY Will Not AGREE. SO THEY GET THE FREE LUNCH  every time they show up