Post From BondLadys Corner Part 1 of 2
BLC tlm724 Chat 06/02/2016 Economic Reform Yesterday at 1:56 pm
tlm724: Just want to take a moment to point some recent developments in Iraq . They had reached a point in their economy where it was do or die. More specifically create the market economy or bust !
tlm724 And bust they ALMOST did. Did Iraq take it up to the very last second of the game ? Your xxxx right they did, that is their MO. Let me point out what the IMF and the World Bank said to Iraq : IF you want our help, which you desperately need, then you MUST follow the rules. No compliance, no money !
Tlm724 Simply put, they wanted Iraq to take the steps towards an open market economy, create a system of transparency and oversight of the financial sector, monitor any and all corruption and have a plan for prosecution of the corrupt. Correct the whole tax system, get the tariffs applied correctly.
Tlm724 Reduce the ridiculously high salaries in the budget etc.. Activate the private sector, effectively supply the market with the best products and work towards a stronger base of exports and take control of their economy and raise it up to international standards, which will open up the flow of international and private capital investment.
Tlm724 Over the last several weeks we have seen glimpses of what was to come. I will show just a few quotes of relevance from some different articles and GOI websites posted in the forum. Note some warrant posting the whole statement :
"The private sector calls for bringing in international expertise"
3/20/2016 0:00 the private sector focus of the advancement of the Iraqi economy during the current conversion stage towards an open market economy, Phase require a private sector actor able to implement projects in accordance with the best specifications, and must be successful experiments confirm the presence effectively to feed the market with the best products
Economists: the government did not take advantage of falling oil prices enabled reforms that are consistent with the visions of international institutions March 20, 2016
that "for a financial breakdown of an unprecedented jumped negative economic indicators to levels that are no longer acceptable never before international institutions , where the budget deficit - to - GDP ratios have increased dangerously and surpassed international rates acceptable. "
He explained defect that" economic reform efforts have not succeeded in recent years , which is supposed which exploits the decline in oil prices in order to activate the reforms that are consistent with the visions of international institutions as a reduction forms of support and to stop hiring and spending policies disorderly. "
The Central Bank's contract with the International Office to control the movement of cash
Date: 10:38 2016/02/28 Information/Baghdad/... Central Bank Governor Ali al-allaq, Sunday, hiring international Audit Office to develop procedures to sell "the dollar" to control the movement of cash.
He said the relationship was quoted in the newspaper "morning" and seen by agency/information/that "Central Bank hired an auditing office develop procedures
He stressed the "necessity of relationship establishment guaranteeing deposits in banks, as we are close to passing a law it passed in the House," pointing to "continue efforts to develop universal banking system which represents a major shift for Central Bank action
Posted By Journal |Date: February 27, 2016| 0 comments | 14 Show
International organizations to help Iraq to overcome the financial crisis special programs
The UN official said that "this agreement will be open to a deal and we will work during the next five years and will work with the provinces directly in order to provide services to the categories of beneficiaries and this will be the backbone of Iraq."
Mobilize international support for Iraq's request for international financial aid
Sunday April 17, 2016 Mr. Hoshyar Zebari, Minister of Finance continues his meetings and meetings with decision - makers at the International Monetary Fund in order to rally support for Iraq 's efforts to reach with the IMF agreement on the credit arrangement , which will provide financial resources to Iraq to help him overcome the current financial dogged on the one hand and give him easy access to the capital markets and access to international financial support for the other.
Captain: There is an international trend to support Iraq in order to cross the ordeal
29/03/2016 11:02 | Direction Press Special / MP for the National Alliance, Abdul-Karim al-Naqib said visiting UN Secretary-General Ban Ki-moon, World Bank President guide on the direction of the international community to support Iraq and to stand with him in order to cross the plight of.
Said Capt in an interview for "direction Press" The Secretary-General of the United Nations noted in his speech that Iraq footsteps of serious and important steps in defeating terrorism, as well as in the field of political reconstruction through the adoption of important laws related to political life in Iraq.
He pointed out that "Ki-moon" stressed the need to proceed Other new laws such as the Law of the National Guard for the democratic structure of the country is complete.
He added that the World Bank President For his part, expressed his full support for Iraq in order to go towards multiple fields of the economy is the diversity of revenue, also called on to do a series of steps related to the reform of fiscal and financial management and the elimination of corruption and fight politics.
It is said that UN Secretary-General Ban Ki-moon and World Bank President and Chairman of the Islamic Bank has visited Iraq this week and met with a number of Iraqi officials, also attended the session of the Iraqi parliament.
It is noteworthy that the Secretary-General of the United Nations Ban Ki-moon and the heads of the World and Islamic banks arrived, Iraq on Saturday for an official visit and met a number of officials in the Iraqi government, the House of Representatives also attended the session.
Prime Minister: There are international organizations and global expertise will help us to fight corruption
March 21, 2016 8:00 noting that "the work of the Committee of Experts continuously and has specifications and mechanisms for choosing ministries."
there are international organizations and global expertise will help the government in the fight against corruption, he has help
Integrity board announces the arrival of the international expert group, which will provide support and assistance to the board in its investigations with an international dimension
05/10/2016 Chairman of the board of integrity , Dr. Hassan al - Yassiri use of international expertise increases the transparency of our work, and give him an international dimension
The board announced integrity day Tuesday, 05.10.2016 for the arrival of the international group of experts who will take over the task of providing for Iraq support in investigating an international dimension of corruption cases.
The Chairman of the Authority , Dr. Hassan al - Yassiri during a meeting with representatives of the organization (UNDP) and the members of the team of international experts in the headquarters of the Authority to seek the Authority for the use of international expertise in the field of the investigation came; as a result of getting to the issues of international dimension in their work
Kanani: IMF loan makes Iraq subject to international economic standards
Economy Since 29.05.2016 at 12:55 (Baghdad time) Special scales News
Counting of the economic and investment commission member of the Parliamentary Ahmed Kanani, on Sunday, Iraq's new funds from the International Monetary Fund, a step in the right direction to make Iraq is under international economic standards.
Said Kanani, L / balance News /, said that "Iraq borrow from the International Monetary Fund makes Iraq abide by international standards and conditions, namely that Iraq abide by mandatory."
" Tomorrow Press " published details of Iraq 's agreement with the International Monetary Fund about the " loans "
22/05/2016 10:07 it will be the responsibility of the international parties involved and supportive of this agreement ( basic degree ) , and not the responsibility of the Iraqi government alone
Investments in Iraq enjoys international support
5/22/2016 0:00 the project titled improve the business and investment climate in Iraq working to help the Iraqi government to set up a policy framework for a more attractive investment for the implementation of investments, and increase the government 's ability in the field of encouraging and promoting Ki attracted better and keep him, especially in the strategic sectors for economic development in Iraq over the long term,
The Organization for Economic Cooperation and Development ( OECD ) has supported the Iraqi government in improving the national and international legal framework for investment.
The Organization for Economic Cooperation and Development (OECD) is a unique forum where the governments of 34 democracies with market economies work with each other, as well as with more than 70 non-member economies to promote economic growth, prosperity, and sustainable development.
The Organization provides a setting where governments can compare policy experiences, seek answers to common problems, identify good practice and coordinate domestic and international policies.
Tlm724: That was the build up to today and if I am honest with you all I had some doubts, not many, but some as to whether Iraq could pull it off. If they truly had their best foot forward with the economic reform. Today was an historic day for Iraq and for us as investors. Today they launched Iraq's development reform program.