DINAR UPDATES 5-20-16
Post From Dinar Updates
Chat Room Excerpts & Highlights
Dinar Updates Friday PM Chat 5-20-16 Part 2 of 3
_firefly_ says():Parliamentary Finance: international loan will contribute to the containment of Iraq, financial crisis
_firefly_ says():Direction Press / special A member of the parliamentary Finance Committee Jabbar Abdul Khaliq said Iraq has signed with the International Monetary Fund in the Jordanian capital Amman on a project loan of $ 5.4 billion.
Abdul Khaliq In an interview with the "direction Press," said that this loan was for the purpose of budget support and O cashed within the drainage gates in Almuiznh.
Khaliq said that the loan is part of a project up to 15 billion financial support Dolarmen supposed to be provided by donors to Iraq in the three years to come.
He added that this support will contribute to the containment of Iraq, the financial crisis and return it to the path of sustainable fiscal situation, it will also help in reducing Aladzvi the budget and reduce the government's debt level.
The IMF approved, to lend Iraq $ 13 billion to meet the financial needs, just days after an Iraqi team led by Finance Minister, Hoshyar Zebari talks in Jordan with representatives from the International Monetary Fund.
And he got Iraq, according to what reported by TV Alsm- a loan from the International Monetary Fund worth $ 13 billion worth of interest rate of 1.5%
subgirl says to dovi():have not heard yet??
_firefly_ says():this loan was for the purpose of budget support
_firefly_ says():his support will contribute to the containment of Iraq, the financial crisis and return it to the path of sustainable fiscal situation,
_firefly_ says():just days after an Iraqi team led by Finance Minister, Hoshyar Zebari talks in Jordan with representatives from the International Monetary Fund.
dovi says to _firefly_():sustainable fiscal situation
dovi says to _firefly_():I like it I love it I want some more of it
_firefly_ says():Seems to me like they are talking more in detail now than in the weeks past
rcookie says():PREMISE OF WHAT HAS BEN COMMENTED ON IMF SBA LOANS....NOT THE PANACEA TO THE ENTIRE PROBLEM....BUT A CONTAINMENT MECHANISM....TO A SUSTAINABLE FISCAL SITUATION.....HMMMMMMM
_firefly_ says to rcookie():"A CONTAINMENT MECHANISM....TO A SUSTAINABLE FISCAL SITUATION"
_firefly_ says to rcookie():A SUSTAINABLE FISCAL SITUATION
rcookie says():HERE IS A RECAP OF TODAYS (Friday) NEWS...
rcookie says(3:38 PM):FINANCIAL BANKING
rcookie says(3:38 PM):SALEH REVEALS TERMS & CONDITIONS OF IMF SBA LOANS...$5.5 BILLION..1.5% PER ANNUM/5 YEARS WITH 2 YEAR GRACE PERIOD/PAYMENTS STARTING JUNE OR JULY..
AND COST CUTTING MEASURES TO 2016 BUDGET (13 TRILLON DINARS) WITHOUT PREJUDICE TO RATION CARD/SOCIAL WELFARE OR DISPLACED HUMANITARIAN HEALTH FUNDS...
AND INCLUDES CONTROL OF THE INTEGRITY COMMISSION & OFFICE OF FINANCIAL SUPERVISION SERVICES OF AML AND FINANCIAL TRANSACTIONS,
IN ADDITION TO SETTLEMENT OF OIL COMPANIES DUES...AND NEW DUES (CONTRACTS)...
AND INCLUDE SUBJECTING ENTIRE AMOUNT OF SALARIES AND BENEFITS OF SENIOR STAFF TO INCOME TAX...AND THE EXCLUSION OF ARMED FORCES SALARIES FROM TAXATION...
ZEBARI POINTS OUT THE $5.5 BILLION SBA LOAN WILL ALLOWADDITIONAL SECURING OF ADDITIONAL FINANCING ASSISTANCE OF OVER $15 BILLION FROM G7 OVER NEXT 3 YEARS...
ABADI MEETS WITH EXECUTIVE DIRECTOR WORLD BANK DR. HASSAN ANNOUNCES IMPORTANCE OF SUPPORTING PRIVATE SECTOR PROJECTS...
FITCH CONFIRMS IMF SBA LOAN TO IRAQ WILL OPEN DOOR FOR ADDITIONAL INTERNATIONAL SUPPORT AND POSSIBILITY OF ISSUING BONDS TO GLOBAL MARKETS AS WELL AS HAVE A POSITIVE EFFECT ON CREDIT RATING OF THE COUNTRY WHILE EXPECTING BUDGET DEFICIT TO RISE TO 15% IN 2016...
rcookie says(3:40 PM):PARLIAMENT/GOV’T
MASUD CONCLUDES KURD METINGS AND RETURNS BAGHDAD UNDERSCORES IMPORTANCE OF RETURNING PARLIAMENT TO RESTORE ITS FUNCTIONS...
ABADI ORDERS ZUBEIDI BACK TO WORK AFTER RESCINDING RESIGNATION...
rcookie says():HERE IS SOME TOMORROW NEWS...ILL BREAK DOWN TOMORROW AM...
rcookie says():Iraqi industry .. pursuit of creating a balance between import and export
5/21/2016 0:00 Abdul - Zahra Mohammed Hindawi , the finger is always going to describe the Iraqi economy as a single - yield oil hand, face and tongue ..
He is also without a doubt in the absence of other economic sectors that could be a competitor honorable oil and graduated economy from these abhorrent unilateralism that has claimed us to shafts perdition .. was this absence is justifiable reasons and circumstances different.
If we want to divide this absence to stage the 2003 will is the interval between these two phases before the date mentioned was the government 's orientations are the militarization of society and occupancy in wars and problems with neighboring countries since 1980 until the fall system and the agriculture,
industry and tourism sectors have been wiped emphasis was placed on imports to meet the local need with all the harness factories for the manufacture of ammunition and weapons within mIC, it has canceled all plans and economic policies and ridiculed all the resources derived from foreign debt - which later became known as indebted poor -
or the sale of oil after the application of the oil for food and medicine , the principle was the result of industry and agriculture paralysis and declining tourism and left Iraq after the end of the war with Iran ,
a convicted billions of dollars and it was before entering the war has reserves estimated at 40 billion dollars .. important concluded that dark era in all its details the change , which carries the hope desirable that we find the Iraqi products have filled the markets,
this course was expected to happen when the economy is shifting from a socialist to a market economy is the sovereignty of the private sector in the development of all joints process ..
but the problem is that none of this did not happen the economy has remained without a clear identity in the light of the continued dominance of the public sector and the lack of space in which moving the private sector .. and the public sector is known severe Bouapoukratith that produced us havoc hit all the joints of life and hit them fatal ..
often raised question seems logical .. is Why Iraq was unable to develop its industry or export some of its products with a product overflowing local need which are required in other countries such as dates, and Iraq is at the forefront of date producing countries ..
not the case only this product but there are other products and raw materials available export quantities such as the Iraqi cement known high Bmoasfath and we have quite a few cement production plants which produce good kinds of it and able to meet domestic need and export Other amounts ..
there gravel material available also in Iraq and in quantities enormous be exported with a huge demand for these products and materials by Gulf states and other countries?
as we have already said that the absence of Iraq 's industry was justified and has its cause (and absentee excuse him always) it is among the reasons is to destroy the infrastructure of most of the factories as a result of the bombing of the during the 2003 war and worn out and gave each other in both cases they need to rehabilitate and rehabilitation needed money and the money needed to sources and resources become scarce after the decline in oil prices ..
boomshakalaka says():guess we are where we are.... afloat is the pool of hopium.... ya'll let me know when it happens
rcookie says():THANKS FOR THE INSIGHT BOOM ...GLAD I STOPPED IN TO CATCH THAT..
sassy says():boom stay rcookie is a faithful researchers. He really is the best
rcookie says():HOPIUM REALLY...LOL
sassy says():rcookie who cares lol
rcookie says():but there are other reasons behind the absence of our national industry and was the outcome of this absence that Iraq has become the countries with high trade balances, but the import side, in the sense that we import more than export or to export almost absent,
even palms that Iraq is the first country globally produced were not able to export it , as is the case with cement , which increases the production of the need for the Iraqi market, but the worst of this we import dates as we import cars, import cement as we import aircraft ..
this is a matter of pain really, especially as we pass through a severe economic crisis . If we were able to export what we have got good financial resources and gradually we have led us out the economy from oil Ahadath .. but prevents us from exporting and encourage the private sector are the decisions issued by Bremer in 2003 and prevent whereby the export of any local product out of Iraq.
Since then we are committed to those decisions with the encouragement of multi - party beneficiaries of the import process !! ..
And I think the conditions that we are experiencing today has become favorable to revisit many of the laws and regulations , both those that were issued during the reign of Bremer or before and even beyond in order to breathe life into the body of our national industry and then find appropriate alternatives to the financing of the economy and take it out of the oil Ahadath.
The It is time to sweep all traces of Bremer as part of the government reform process and activate support for the agriculture sector and industry decisions.
rcookie says():WOW!!..FOUND ARTICLE TITLED.."PROPOSALS TO REBUILD ECONOMIC STRUCTURE"......BUT IT HORRIBLE TRANSLATION AND CANT FIND OTHER TRANSLATION...BUT HERE IS THE LINK...
Proposals to rebuild the economic structure 5/21/2016 0:00
rcookie says():Westerners are encouraged to establish business relations with Iran
5/21/2016 0:00 BRUSSELS - A. Q. B. United States, Britain, Germany and France announced in a joint statement on Friday that Western powers encouraged its banks and its own institutions on the development of its business activities illegal in Iran.
Broadened the four countries , in a statement released after talks in Brussels to reassure businesses that fear that impede US sanctions against Iran, the resumption of trade with Iran after the conclusion of the nuclear agreement with them and which came into force last January.
she said the four countries and the European Union in the announcement: »We will not stand in the way in front of commercial activities licensed with Iran». She said «We will not stand a barrier to international companies or financial institutions that contract with Iran as long respected all applicable laws».
After years of embargo Iran obtained a partial easing of economic sanctions Bank in exchange for the start of implementation of the agreement with major powers over its nuclear program. But the United States has kept on other sanctions targeting the missile program , ballistic and Iranian support for armed movements in the Middle East.
Therefore the European banks , which typically has offices in the United States have been slow to resume business with Iran for fear of prosecution.
The goal of this joint declaration thus to clarify approval awarded nuclear agreement in Vienna on July 14, 2014.
he said the announcement «that the interests of Europe and the world at large companies in Iran, a large» and that «anyone who is in our interest and the interest of the international community to ensure all parties benefit from the plan , including the Iranian people».
he said the signatories of the declaration said «that includes the return of banks and institutions of European commitment (work) in Iran.»
rcookie says():SO NATO COUNTRIES SOFTENING POSITION OF ENGAGING IN BUSINESS...AFTER REASSURANCE FROM US FOR THERE NOT TO BR RETRIBUTION OR NEGATIVE REPERCUSSIONS...
rcookie says():SO THEY HAVE US BLESSING..SO LONG AS COMPLIANT AND RESPECTFUL OF APPLICABLE LAWS...
sassy says():rcookie yay
rcookie says():SANCTIONS STILL REMAINING TOWARD IRANS MISSILE PROGRAM AND ARMED OFFENSIVES IN REGION...
rcookie says():EUROPEAN BANKS GUN SHY AND SLOW TO DIVE IN FULLY WITH IRAQ BUSINESS ENGAGEMENT WHICH IS WHAT CAUSED THEW RECENT STATEMENTS OF US ASSURANCE....
sassy says():rcookie is that because of their connection with Iran?
sassy says():or the US?
rcookie says():YES...THEY ARE OVERLY CAUTIOUS OF DIVING IN HEAD FIRST GETTING BACK IN THE POOL WITH IRQN....KINDS DIPPING THEIR TOES TO TEST THE WATER AND MAKE SURE THEY GET THE ALL CLEAR...
sassy says():rcookie understandable too
rcookie says():THEY ARE WARY OF THE US COMING DOWN HARD ON IRAN BANKS INVOLVED WITH TERRORISM FINANCIN AND MONEY LAUNDERING....
REMEMBER THE IRANIAN BANKS AND AFFILIATED BUSINESSES ARE RESPONSIBLE FOR PROVIDING BOGUS TRADE RECEIPTS/INVOICES THAT ARE AT THE ROOT OF THE CURRENCY AUCTION ABUSE AND CURRENCY SMUGGLING OUT OF IRAQ....
sassy says():rcookie well yeah so much corruption going on
rcookie says():THIS IS A REPORT ON ISX VALUATION AND ACTIVITY AND CHALLENGES BEING WORKED ON....I WILL BREAK THIS ONE DOWN TOMORROW AM...
rcookie says():The market value of companies exceeded 7 trillion dinars
5/21/2016 0:00 Despite the existence of obstacles to invest indirect
BAGHDAD - Mostafa Hashemi stressed on competent financial investment Jalil Ali Obaid highlighted the encouraging factors on the financial indirect investment is the existence of awareness of the economic and culture, as well as laws governing the economy and capital.
Known financial investment as the investment of money in stocks, bonds or treasury transfers and other business tools or any bonds tradable.
He said Obaid In contrast to the main problems facing the financial investment companies that it is the existence of unfair competition with the financial intermediation in the sale and purchase of securities companies, as well as the central bank controls through an increase in the banking sector and capital controls to invest in a single company , along with the sharp decline in stock prices.
He said that the financial investment companies founded with a capital of 100 million dinars at the end of the last decade and has committed two years after the amendment of the capital to 200 million dinars the company may also invest in bonds and stocks and treasury transfers and management of portfolios of others, saying they committed to be a joint - stock companies and be the Central Bank of the sectoral supervisory and governed in accordance with the laws in force.
He said: Central has stipulated that does not exceed the investment in each joint - stock company more than 5 percent of the capital company financial investment and retain 10 percent of the share capital in cash Kciolh, as committed at the end of 2013 to be a capital of 100 million dinars , and the ratio of investment in all 10 companies percent of the capital and liquidity ratio required 10 percent.
in the same context , said the Iraqi market for securities Finance , the market value of listed companies in the market amounted to 7 trillion and 322 billion dinars, while the value of traded shares amounted to four billion and 331 dinars , compared to 3 billion and 579 million dinars last week.
According to the weekly report of the performance of the Iraq stock Exchange for the period from 15 to May 19, seen by «morning»: the number of stalled companies from trading for failing to submit annual disclosure and quarterly Authority and the market has become for 13 companies, while the number of remittance companies stalled Report trading, after the ratification of the change of activity and until the issuance of license to practice from the central bank issued 0.3 companies.
added: The number of shares traded for the week 7 billion and 32 million shares , compared with 8 billion and 712 million shares last week, as the number of contracts executed for the 2408 deals week compared to 2008 deals last week.
The systems Iraq stock Exchange during the week ending on Thursday , five sessions, two sessions trading in the formal market and three other sessions in the secondary market.
the number of listed companies in the market 98 joint - stock company, of which 76 companies listed in the regular market and 22 companies listed in the second market.
rcookie says():the report pointed out : during the sessions of the week , trading of shares of 47 companies in the formal market to along with three companies in the second market .obulg number of shares listed on the market 8.960 trillion shares. the
report decrease in the number of shares traded for the week, point by 19.29 percent over the past per week, the higher the total value traded for this week , shares rose 21.02 percent over the past per week, as well as lower index market ISX 60 by 0.41 percent from the close of last week when it closed at 522.34 points.
non - Iraqi investors the report also pointed out that the number of shares bought from investors Giralaracaan for the week amounted to 369 million shares, valued at 1,316 million dinars through the implementation of 83 transactions on the shares of 16 companies noting that the number of shares sold by non - Iraqi investors this week amounted to 1.081 billion shares valued at 660 million dinars through the implementation of 345 transactions on the shares of 18 companies.
the market index closed ISX 60 in the last session of the week , recording 524.5 points.