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Dinar Updates Friday AM Chat 7-22-16 Part 3 of 3
rcookie says():IMF agreement test for Iraq
7/23/2016 0:00 Edmund O'Sullivan / Torgomh- Khalid Qasim IMF has developed a tremendous program to rewrite Iraq's ailing economy. The fund issued on July 14 and the current document consisting of 34 pages constitute the most ambitious attempt to remake the economy of one of the Middle East.
Paint a document program that Iraq agreed upon to ensure a loan from the Fund valued at $ 4.5 billion in order to bridge the gap revenues of the government resulting from the decline in oil prices .
The document also contains assurances demanded by international creditors and who will have to provide additional loans soon. These loans include billion bonds government of the United States included in the billion - euro bond dollars is expected to be issued before the end of this year, and one billion other dollars from the World Bank and more than $ 3 billion in loans projects.
Says IMF: that Iraq needs to borrow $ 56 billion until the year 2019, this estimate comes at the top of the current debt of the country , which she mentions the fund amounted to $ 67 billion until the end of last year, equivalent to about 45 percent of the projected budget for the current year.
The main objective of the agreement is the fiscal deficit of the government, which has risen to 14 percent of gross domestic product last year. It is likely to increase more during this year, with oil prices so far amounted to an average 75 percent from their level of a year earlier as a whole.
Baghdad and agreed on the need to reduce the deficit to 1 percent of GDP in 2021, and achieved part of that goal over the high price of oil which is expected arrival level of $ 70 a barrel by the end of the decade.
but the bulk of the settlement will come through spending cuts and government reforms. This includes for the current year to increase taxes and cut salaries of employees and retirees and reduce the capital and the financial allocations for the Kurdistan region spending. The government has promised to complete 85 percent of the president spending the non - oil authorized in the current year budget.
Is expected to provide value - added tax and work to increase the efficiency of the 176 state - owned company outside the financial sector employs 550 thousand people, and mentions the agreement with the IMF that half of those Vaidon need.
repare this program is tremendous, and increases the size of the challenges faced by Iraq because of the military operations against the «Daash» and dealing with more than four million displaced people in the northern areas since June 2014. He fled about a quarter of a million Syrians into Iraq since the outbreak of the civil war there in 2011.
the world offers a real help to Baghdad to protect the Iraqi people from terrorism and external threats, but they are in need of hope on their ability to prosper as well. If achieved the IMF agreement this goal is a positive agreement, but there are economic and social costs must be paid before then.
larrykn says():ys IMF: that Iraq needs to borrow $ 56 billion until the year 2019. WOW that a lot more then the 23 billion they were talking about
watson1 says():wow .... hmmm lol
rcookie says():IS DAY HERE...
rcookie says():OK DU.....CHECK THESE NUMBERS AND STATEMENTS OUT......
rcookie says():In six auctions of treasury transfers until July deficit was funded by about 3 trillion dinars
7/23/2016 0:00 BAGHDAD - Mustafa Ahalchmi longer Auction of treasury transfers one means of monetary policy , which comes to contribute to reducing the budget deficit to Bld.ovi this regard regulates the central bank auction of the Ministry of Finance in the twenty - third of next month for the sale of treasury transfers annual for 364 days at $ emissivity 400 billion dinars .
internal borrowing , according to a private «morning» statistically , it was through these auctions, which were held since the beginning of this year, withdrawing liquidity in accordance with the borrowing plan from the inside of about a trillion and 700 billion and 520 million dinars to be re - employed in bridging the temporary budget deficit. based on the public debt Act,
which authorized the Ministry of Finance issued remittances treasury guaranteed by the government, the Central Bank of Iraq, as an agent financially to the ministry manages Auctions remittances government treasury on behalf of the Ministry of Finance , which is in accordance with the determinants of the annual budget law by issuing remittances treasury for the purposes of government funding.
sale Asdarih according to a statement of the Central Bank, the auction of treasury transfers organized by the bank on the thirteenth of this month, the auction saw the sale amount Asdarih of $ 400 billion and 20 million dinars ,
the highest price cut of competitive auctions 4.00 percent and the average yield 4.00 percent to four participants in the auction Alemtemthleen Bmsrven circle care of minors retirement and body national Altven won the amounts they have given in the auction.
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rcookie says():finance the deficit comes these auctions to finance part of the general budget for Iraq within the domestic borrowing plan issued by the Ministry of Finance to sell treasury transfers deficit, as the plan included the establishment of an auction in each month of the year.
It was determining the amount of Asdarih each auction until next month in august to 400 billion dinars, while the auction of the month of September and subsequent months has been defined in the amount of 300 billion dinars, according to the Ministry of plan of Finance.
The Asdarih amount for each auction of auctions of treasury transfers for 2014 was 500 billion dinars, and the number of auctions that were held in which 10 auctions.
the sale of money orders the Central Bank and Treasury remittances one of the procedures and means of monetary policy taken by the central bank to deal with the levels of liquidity on a temporary basis , as it represents an investment risk free and so he leads an active role in the secondary market.
rcookie says():1.75 TRILLION IQD AUCTIONS SINCE JANUARY...
subgirl says to rcookie():WoW!!!!
rcookie says():the sale of money orders the Central Bank and Treasury remittances one of the procedures and means of monetary policy taken by the central bank to deal with the levels of liquidity on a temporary basis , as it represents an investment risk free and so he leads an active role in the secondary market.
rcookie says():Railway trains are leased to the private sector
7/23/2016 0:00 BAGHDAD - Jinan al - Asadi contracted by the General Company for Railways with companies and offices specialized travel and tourism from the private sector, to rent trains within a broad plan aims to expand its financial resources.
Media and Public Relations Officer in the Ministry of Transport Company Abdul Sattar Muhsin said special permission »Sabah»,
The company later held a number of meetings with the owners of offices and travel and tourism companies from the private sector, opened its marketing outlets aims to maximize its financial resources through the contracted rental Alqtart up and running, especially those operating between the holy city of Karbala and the provinces experiencing considerable momentum during the holy sites visits and imams Alothar (p) year - round.
He focused the efforts of his company through a contract, on finding immediate solutions to open the horizons of cooperation with tour companies and investors, as well as encouraging through this catalog port service , which aims to expand the financial resources of the company, in addition to supporting the travel and tourism companies from the private sector.
the articulated enhancer on the status of the Committee set up by his company, a mechanism whereby identifies some of the items of which the tenant to pay 50 percent of the wages of the train at a minimum,
while the tenant will pay the amounts updated travelers from the start station immediately within the fundamentalist menus, as well as reimbursement the beneficiary amounts Railway in the event of increased passenger numbers, under the reservation lists organized by the examiners cards inside the trains.
He stressed the feet of his company and after extensive turnout by visitors, on the conduct of train passengers every Thursday from Diwaniya station to Karbala station in coordination with a private company, which counted a pioneer in the field of travel and tourism in order to expand the experiment in all the provinces with which it has transferred Skkih with lines the holy city of Karbala.
He attributed the information officer and public relations at the company, turnout thick by travelers to navigate Baktaradtha, to the company providing modern trains air - conditioned and have contributed to the provision of better services to passengers, as well as timeliness of departure and arrival of flights, as well as the speed to get tickets, as well as cut out completely We did that for all its flights lines.
rcookie says():GREAT POINT...
rcookie says():The project consists, according Zamili, 14-apartment building distributed between the two models, the first includes ten buildings and one-four at a rate of 540 housing units, noting that through continuous and direct owners engineering specialist overseeing the project, follow-up has embarked on two companies installed the pillars of the buildings, as well as schools and commercial mall according to urban plans approved within the project.
In the same context, he referred to the keenness of the Authority to pursue referred by her investment projects to promote economic and urban reality of the province, revealing the implementation of a field trip to a number of residential investment projects, including the project (the gateway to Iraq residential), which consists of 2548 residential units ranging from the cost of each of ( 225-340) thousand dollars, paid as the cost of the unit in the form of payments from the stages of construction.
Director of the Baghdad Investment Authority, pointed to the containment of the integrated project services, a spa center, an international school, in addition to a large shopping mall (Mall), explaining that the project faced many constraints, including services and connecting infrastructure major network that the Commission has worked to overcome them in cooperation with the province, noting that the project provided many job opportunities for the unemployed.
It also included a visit as well, and talk to Zamila, the housing complex of Justice, built on 32 dunums at a cost of $ 233 million project, a full-service complex provides 868 residential units consisting of 28 building two types, consisting of the first eight floors,
while featuring second kind of ten-story, explaining the project, which Estmralaml by three years, includes integrated services in accordance with the modern shops, medical clinic and a kindergarten and a school class.
Zamili disclosed informed the Commission on executing company business project Brothers housing complex for the benefit of employees of the Ministry of Higher Education area Amiriyah, as the project consists of residential units carried out in three areas and in two phases, as each building of six floors each of which includes a single-story four residential units consisting, in up the cost of implementation of the project to $ 200 million.
He stressed that despite the difficulties faced by the body, but it is seeking by all means to the implementation of investment vision that focused on some of the vital sectors that serve the citizen sectors such as residential to find necessary for the deepening crisis of housing solutions, as well as to encourage enterprises to carry out projects to affiliates style investment.