Note: It seems that several sites are down this morning. TNT, WSOMN, and Wingit appear to be having technical difficulties....
Beloved: Lost are you listening to Frank's call
Lostnq8: The IMF requires they borrow to follow a program aimed and meeting certain goals. RV is the only requirement of Iraq.
Steps are being accomplished according to the afore signed LOI (Letter of Intent)
Now Abadi is turning his attention to his citizens. He gave them a pep talk. The management of the financial resources are based on the oil revenue. wink wink
When oil is at fifty five dollars a barrel, things will change.
RaginCajun: lost- is he saying we need $55 on oil
Lostng8: Thats what the LOI says. that is about to happen very soon.
Lostnq8: The liberation of Mosul is underway. Then the RV.
Iraq is pumping oil at a record pace despite the chaos.
Ratifications of all agreements will be by the end of June
Iraq got more loans from G7 countries. This is along with the loan from the IMF
Giant steps are being taken as we speak by Iraq. Iraq is International. We just don't know about it yet. But we will soon.
IMF demanded that they do all of this.
It is now with the cooperation of all world banks.
The last step is to raise the value of the Iraqi currency!!!!
The IMF deal is on track as cabinet approves the reform package.
From Walking stick..Its like loading Noah's ark for mankind.
Iraq will not get the release of loans until they raise the value of their currency.
Call Done. Prayer time.
KTFA Monday Night Conference Call
Approx.156 minutes long
The first part is Business Promo and the second part is Dinar/Iraq Intel
PLAYBACK # : 641.715.3639 PIN: 156996#
Purifiers: (Frank, talked of these on CC )
Iraq: the agreement with the IMF is going according to plan
A senior government official said that Iraq agreed to request the International Monetary Fund to provide loans that will help the country to overcome the liquidity crisis caused by low Alinvt.oukal revenues appearance of the benefit of the Iraqi Prime Minister Haider al - Abadi adviser fiscal policies , procedures, said the agreement reached last month between Iraq and the international Monetary Fund is going according to plan for H.oodhav that among the measures that have been approved the payment of all arrears owed to foreign oil companies operating in Iraq by the end of the year. Saleh did not disclose the total amount owed by the country to those companies.
Iraq will pay dues international oil companies in installments not to exceed one billion dollars a month
(Voice of Iraq) - Baghdad confirmed the financial advisor to the prime minister, on Monday, to prepare the credit agreement with the International Monetary Fund, included suitable for the reimbursement of the international oil companies operating in Iraq settlement, noting that it would be paid in the form of premiums from the general budget, not to exceed one billion dollars a month.
he said the appearance of Mohammed Saleh said that "included the subject of the reimbursement of foreign oil companies operating in Iraq and find appropriate settlement standby credit with the international Monetary Fund agreement , " noting that "the oil ministry embarked on a mechanism for the payment of those dues to ensure that no delay." Saleh added that "entitlements oil field development would be paid in the form of premiums from the general budget, not to exceed amounts of one billion dollars per month, and complete end of the year according to the agreement , "noting that it" includes taking into account a period of grace to be held accountable usually extend for four months.
" and on the other requests of the international Monetary Fund , Saleh asserted that "the Fund requirements and approved by the cabinet at its meeting last Tuesday, ( the seventh of June the current 2016), through the adoption of economic and financial policies that have been reached between the parties on according to the initial agreement between the two note", and added that " the ratification of the agreement between the parties will be by the Fund 's board of end of June , the current management to become effective.
" he was the financial advisor to the Prime Minister, the appearance of Mohammed Saleh, revealed in (27 May 2016), for Iraq , for" " an international financial umbrella estimated at approximately 20 billion dollars.
and knows the international Monetary Fund that, a specialized agency of the Bretton Woods system of the United Nations, was established under an international treaty in 1945 to work on enhancing the safety of the global economy, and is based in Washington DC, and managed by its members who include almost their number all the countries of the world of 188 countries.
the Finance Minister Hoshyar Zebari announced that , in the (19 May 2016), to reach an agreement with the World Bank Fund for a loan worth $ 5.4 billion, while the loan will allow securing additional financial assistance to reach about $ 15 billion during the next three years, Governor of the Central Bank of Iraq, on the Keywords confirmed that the annual interest of the loan up to 1.5 percent.
Iraq had announced (13th January 2016), the approval of the international Monetary Fund to finance the budget deficit through clouds of currency reserves difficult, noting that it means reducing the reserves of 59 billion dollars last October 2015 end, to 43 billion during the current year.
Wshifthnkn: Im sure most has read this in its entirety. I found it very informative as where we are. They have told us almost every step in previous years LOI's
THIS IS DECEMBER 22, 2015 LETTER OF INTENT TO THE IMF
THIS IS #19 UNDER FOREIGN EXCHANGE POLICY
19. The government will gradually remove remaining exchange restrictions and multiple
currency practice (MCP) with a view to eliminating exchange rate distortions.
Such a move towards acceptance of the obligations under Article VIII of the IMF’s Articles of Agreement will send a positive signal to the investment community that Iraq is committed to maintain an exchange system that is free of restrictions and MCPs for current international transactions and thus facilitate creation of a favorable business climate.
As a first step, the government will, by end-February 2016, amend the Investment Law, or issue clarifying implementing regulations, to remove the limitation on transfer of investment proceeds that gives rise to an exchange restriction, as recommended by a recent technical assistance mission of the IMF.
Frank26: Now that's the way to ................... STUDY !!! KTFA Frank
Walkingstick: CBI News and announcements
( A meeting ) met with Governor of the Central Bank of Iraq , Mr. Ali Mohsen Ismail on Sundaywhich falls 2016 / 6 / 12 with a delegation of Iraqi private banks association and a number of trainees from those banks to the work of money laundering and terrorism financing
To / Bank Audi ( granting of the license to conduct banking business in Iraq )
Don961: MO .... Anti-corruption .... Security/integrity in banking .... no more stealing allowed
Conscious / foiled an attempt to steal 7.5 billion dinars from the Rafidain Bank
14/06/2016 10:45 |
Conscious / Baghdad / MA
Integrity Commission announced enable foiled an attempt to steal seven billion and 500 million dinars from Alravedan- Bank funds Waziriya branch in Baghdad, stressing tuned suspects who tried to steal the money through a forged letter of guarantee, in flagrante delicto.
According to a statement of the Commission has received ( and the Iraqi News Agency Information / INA ) copy, "obtained information indicating that there is a letter of guarantee forged in the Rafidain Bank - Branch Alozyreh- 341 worth 7.5 billion dinars submitted by a Ministry of Industry and Minerals / General Company for the automotive industry and a staff traders who edited the letter of guarantee in his name after receiving a public company for the automotive industry and equipment approval to sell cars and mechanisms in installments for two years in exchange for providing thecompany with a letter of guarantee worth the amount mentioned by the government bank. "
According to the Commission, "the movement of its staff to the headquarters of the bank immediately upon receipt of the information, where it was ascertained directly from the non-validity of the letter of guarantee submitted, adjust the suspects red-handed, accompanied extruded reus (letter counterfeiter security)."
She pointed to codify the statements of the accused and the prosecution of ratification by the investigating judge orderlies who decided to record the statements of witnesses in the case, and the arrest of the accused; in order to take legal proceedings against them. "