DINAR UPDATES 5-20-16
Post From Dinar Updates
Chat Room Excerpts & Highlights
Dinar Updates Friday AM Chat 5-20-16 Part 1 of 3
rcookie says):Abadi adviser reveal the terms of the IMF to lend to Iraq
Baghdad -arac Press -20 May / May: financial advisor to the Prime Minister revealed the appearance of Mohammed Saleh, on the conditions of the International Monetary Fund for lending to Iraq nearly $ 5.5 billion.
Saleh said, in a press statement, " The agreement with the IMF on Iraq for a direct loan from the Fund valued at $ 5.5 billion, went toward cost - cutting in the public budget for the current year by about 13 trillion dinars, without prejudice to the ration cards and a network of social welfare and affairs of the displaced ".
Saleh added that " the Fund to impose conditions on the Iraqi side in exchange for the loan, including the control of the Integrity Commission and the Office of Financial Supervision and devices anti - money laundering in financial transactions,
in addition to the settlement of dues of oil companies and avoid the accumulation of dues , " he said , adding that " the International Monetary conditions are also included subjecting the entire income and allowances of senior staff to the income tax, and the exclusion of the armed forces and junior staff of the income tax provisions. "
Saleh revealed that " the benefit of this loan does not exceed 1.5% per annum and for a period to allow more than two years , exempting from the payment, to be repaid over five years from the date collected and according to the semi - complex mechanism," she returned to " the loan will open the door for industrial nations (G7) to lend Iraq amounts of up to $ 15 billion, and favorable terms. "
The Finance Minister , Hoshyar Zebari, announced on Thursday, to reach an agreement with the World Bank Fund for a loan worth $ 5.4 billion, and as pointed out that the loan will allow securing additional financial assistance to reach about $ 15 billion over the next three years, confirmed the Governor of the Central Bank of Iraq , on the Keywords that the annual interest rate of the loan is up to 1.5%
rcookie says():SO....THE SBA TERMS.....
clay says to rcookie():wow low interest
larrykn says to rcookie():moving right along :)
rcookie says():THEY ARE REPORTING 5,5 BILLION...ALTHOUGH THERE ARE NUMEROUS REPORTS OF STATEMENTS FROM ZEBARI SIGNING FOR $6.4 BILLION IN JUNE.....
THERE WERE QUESTIONS LAST NIGHT AS TO REPAYMENT PROCESS COMMENCING IN JUNE/JULY...AND WHAT THE INSTALLMENTS ARE....
rcookie says():THIS IS PART OF THE REASON THE IMF IS REQUIRING A REVISION AND REWRITE OF THE 2016 BUDGET LAW....
THEY WILL INCORPORATE THE LOAN PAYMENTS AND BE MADE ACCOUNTABLE IN THE BUDGET...
JUST AS THEY HAVE WITH ALL OF THE OTHER LOANS...AS WELL AS THE OTHER BUDGET CUT CONDITIONS FOR SBA LOAN APPROVAL...WHICH ARE OULINED IN THE ARTICLE...
rcookie says():IT ACCOUNTS FOR 13 TRILLION COST CUTTING IN 2016 BUDGET (WITHOUT PREDUDICE) AND THESE CUTS WILL NOT INCLUDE THE RATION CARD ...SOCIAL WELFARE..OR DISPLACED PERSONS BENEFITS...
rcookie says():NOW....HERE IS THE EYR OPENER...IN INK....ACCORDING TO SALEH...THE FUND WILL MAINTAIN CONTROL OF THE INTEGRITY COMMISSION AND THE OFFICE OF FINANCIAL SUPERVISION AND AML MECHANISMS AND FINANCIAL TRANSACTIONS......
IN ADDITION TO SETTLEMENT OF DUES OF OIL COMPANIES & ACCUMULATION OF DUES (NEW CONTRACTS)...SO OVERSEEING THE ENTIRE OIL CONTRACT FINANCES PROCESS....
rcookie says():THEY ALSO STIPULATE THE CONDITIONS INCLUDE SUBJECTING THE ENTIRE INCOME AND PERKS OF SENIOR STAFF TO INCOME TAX....AND EXCLUDE MILITARY PERSONNEL AND JR STAFF FROM INCOME TAX PROVISIONS....
dinarmassa says():Looks like more transparency
BGG says to rcookie():WOW - that is very curious stuff...
rcookie says():SBA LOAN INTEREST IS 1.5% PER ANNUM WITH 2 YEAR GRACE PERIOD OVER 5 YEAR TERM FROM DATE COLLECTED...
AND THE LOAN WILL OPEN DOOR FOR G7 NATIONS TO LEND IRAQ UP TO $15 BILLION...HENCE THE INTERNATIONAL BANK CERTIFICATES.....
BGG says to rcookie():IMF not interested in financing Iraq's "BLACK HOLE OF FINANCIAL CORRUPTION"... good for Iraqi's - good for us.
rcookie says to BGG():THAT IS AMAZING....THE IMF MAINTAINS CONTROL OVER INTEGRITY & OFFICE OF FINANCIAL SUPERVISION AND AML ACTIVITIES OF FINANCIAL TRANSACTIONS.........BIG BROTHER WATCHING...AND SAYING..."AH NO....YOU WONT BE DOING THAT WITH THIS MONEY".....
rcookie says to BGG():WELL SPOKEN...
BGG says to rcookie():also explains why the "SLC branch" of the Parliamentary Finance Committee pushed back on this deal so hard...
BGG says to rcookie():too much accountability for their "crookedness"...
clay01 says():Cookie Jar has a lock on it now, lol
BGG says to clay01():and an IMF Dobermann guarding it :D
rcookie says to BGG():YES....ITS SUCH AN AFFRONT TO THEIR NATIONAL SOVEREIGNTY.....HAVING AN ENTITY ACTUALLY PREVENT AND PROSECUTE THE CORRUPTION THAT HAS LEAD TO THEIR IMPECCABLE REPUTATION IN THE WORLD....LOL
clay01 says():no more dirty hands reaching in to grab cookies whenever they want
BGG says():This deal will also give the World Courts / IMF some standing to pursue any future corruption... sounds like to me...
clay says to clay01():yes I finally did understand
clay01 says to clay():could you explain it to me then
clay says to clay01():yes
clay01 says to clay():it was vague
clay says to clay01():the IMF gave Iraq a checklist before accepting the terms of the IMF loan....Iraq completed them to get both the loans and the certificate to bring banks international
clay01 says to clay():ok, got that
clay says to clay01():major major news
clay01 says to clay():what I didn't understand was the timeframe they were talking about
clay01 says to clay():are the loans to start in June or July or what did that mean
clay01 says to clay():I assume (rabbit hole) that they have to amend the budget law before they get the loans from IMF, is that the June/July part
clay says to clay01():yes to start then
clay01 says to clay():ok thanks
rcookie says to BGG():THEY HAD ALREADY QUALIFIED FOR THE SBA LOANS BY PERFORMANCE AND COMPLIANCE WITH STAFF MONITORED PROGRAM WHICH IS STILL ONGOING....
THESE NEW CONDITIONS WERE APPLIED ONCE THE AMOUNTS AND TERMS WERE FINALIZED....AND WILL BE INCORPORATED INTO THE REWRITE OF THE 2016 BUDGET LAW......COMING SOON TO A PARLIAMENT SESSION NEAR YOU....
rcookie says to clay01):YES...CORRECT..
clay says to rcookie():(y)
clay01 says():thanks rcookie :)
rcookie says to clay01():WHICH IS WHY YOU NEED A STOPWATCH TO TIME THE KURDS RESPONSE IN GETTING RE-ENGAGED IN PARLIAMENT PROCESS....THATS A $3+ BILLION SPRINT TO BAGHDAD WHILE THE INKS STILL WET ON THE CHECK!!....
clay01 says to rcookie():So what is the condition of parliment with meeting a quorem without the Kurds
clay01 says to rcookie():slim to none I guess lol
clay01 says to rcookie():to get a vote
clay says to clay01():kurds say they will meet
clay01 says to rcookie():will they have enough then to get the budget law amended
larrykn says to clay():kurds just got a lot of money to go back to parliment :D
clay01 says to rcookie():whole ball of wax comes down to this then, wow
rcookie says):HERE IS THE ANNOUNCEMENT OF FORMER US AMBASSADOR TO KUWAIT (SINCE 2014) DOUGLAS SOLOMON BEING OFFICIALLY NAMED US AMBASSADOR TO IRAQ...
clay says to larrykn():right (lol)
rcookie says():Private sources of change: Set "Douglas Solomon" US ambassador in Baghdad, rather than "Stuart Jones"
Wrote: May 20, 2016
US President Barack Obama has chosen a new ambassador to the United States in Iraq.
Sources especially to change the US State Department replaced the US ambassador in Iraq, Stuart Jones, the Ambassador of the United States in Kuwait Douglas Solomon.
Noting that Obama agreed to take on Suleiman as the new US ambassador in Baghdad.
The Douglas Suleiman was appointed the post of US ambassador to Kuwait since two thousand and fourteen year was accepted by serving as US deputy ambassador in Iraq.
rcookie says():KURDS WOULDNT MISS THAT PARLIAMENT SESSION FOR ALL THE BEER IN MILWAUKEE.......
clay01 says to rcookie():No, not with 3 billion at stake, they need more than most
clay01 says to rcookie():Do they drink beer, lol
clay01 says to rcookie():If they don't, they are always appear to be so angry, maybe they should start lol
rcookie says():IRANIANS DRINK MORE PER CAPITA THAN US & RUSSIA...
Dinar Investor says():I would be angry too if it were 100 plus degrees outside lol
rcookie says():THOUSANDS OF DEMONSTRATORS SET OFF FROM TARHIR SQUARE TO GREEN ZONE...
subgirl says to rcookie():More Protestors!
rcookie says():Access to the demonstrators in front of the parliament building in the Green Zone
By Roudao 38 minutes ago Thousands of demonstrators set off on Friday from Tahrir Square toward the Green Zone, to the Iraqi Alberlmn building.
RickeyT says to rcookie():we need ro do the same here
subgirl says to rcookie():and today is their holy day!! and they are doing the protesting!
rcookie says to RickeyT():AGREED!!...
RickeyT says to rcookie(9:22 AM):
we have larger problems than potty issues
rcookie says():Iraq: Security forces declared a state of maximum alert and cut off a number of roads in Baghdad #
Sources reported that the Iraqi security forces declared a state of maximum alert and cut off a number of roads in Baghdad, and the occurrence of clashes and shootings on protesters near the Green Zone.
diagyAAAE says():I am doing well. excited about that Finanacial Certificate that iraq's banks recieved this week
rcookie says():Sadr's supporters break into prime minister's office inside the Green Zone in Baghdad
May 20, 2016 8 Baghdad AFP supporters stormed the radical Shiite cleric Moqtada al-Sadr Friday Prime Minister Haider al-Abadi office inside the heavily fortified Green Zone in Baghdad, according to the photographer, according to AFP.
And it faced thousands of protesters who are demanding reforms in the government initially stiff resistance from the security forces, but were able to finally break into the fortified area and access to the Prime Minister's Office.
dinarmassa says():thought Sadr, was calmed down
Scotzgirl says to rcookie():That won't go over well...
rcookie says():TEAR GAS DEPLOYED LIVE AMMUNITION FIRED...
futuremoney says():I brought this in earlier and nobody said a word...??
MrsBGG says to rcookie():rcookie can you help him out?
larrykn says to futuremoney():was that a pic from today ?
futuremoney says():I was hoping the story was false...
futuremoney says to larrykn():yes