Post From Dinar Updates 2-3-16
Excerpts & Highlights
Dinar Updates Member Chat 2-3-16 Part 2 of 3
rcookie says to templejc(): 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.
rcookie says to templejc(): THEY DID THIS A FULL MONTH AHEAD OF WHAT THEY WERE TASKED TO....
templejc says to rcookie(): THANKS FOR YOUR EXPLAINATION AND YOU RESEARCH RCOOKIE
rcookie says to templejc(): THAT IS WHAT IS SO EXCITING...AS YOU CAN READ THROUGH THESE INDIVIDUAL TASKS..AND ASK YOURSELF.."HAVE THEY DONE THIS" OR "WHERE ARE THEY ON THIS"...
IT IS A COMPLETE IMF ACTION PLAN (PLAYBOOK) AS TO DELIVERING IRAQ TO THE GLOBAL ECONOMY I THE FIRST HALF OF 2016....
rcookie says to templejc(): MY PLEASURE...
rcookie says to templejc(): IT IS ALSO WY SO MADDENING WHEN NEGTIVITY OR THE OLD "OH BEEN THERE ...SEEN THIS BEFORE"...IS SO RIDICULOUS...
rcookie says to templejc(): NEVER...EVER...EVER...EVER..BEFORE....NEVER..
rcookie says(): HERE IS # 20...
rcookie says(20. The government will implement reforms on anti-money laundering and combating the financing of terrorism (AML/CFT). This will improve the integration of the domestic financial system into the global economy and lower transaction costs, improve governance, and reduce the size of the informal sector.
As a first step, the government will, by end-February 2016, draft, with the help of IMF technical assistance, and adopt a by-law to set up a mechanism to comply with the relevant United Nations Security Council resolutions related to terrorism financing and Recommendation 6 of the Financial Action Task Force on Money Laundering (FATF).
rcookie says(): DONE....OR NOT DONE....
templejc says to rcookie(): AGREE - AND FOR THE 99% THAT ARE VERY POSITIVE - WE THANK BOTH YOU AND MD AND ALL THE OTHER RESEARCHERS
subgirl says to rcookie(): DONE!
rcookie says(): TELL HER WHAT SHES WON JOHNNY!!!!
subgirl says to rcookie(): AML is done correct?
designbyg says(10:10 AM): I try not to happy-dance at work.....it really annoys some people....
subgirl says to rcookie(): lol
john09 says(): rcookie ...is ending mcp another way of saying ending auctions?
templejc says to rcookie(): A CUP OF COFFEE OR HOT COCO FROM YOUR LOCAL STARBUCKS!
subgirl says to templejc(): lol
rcookie says to john09(): YES
rcookie says(): HERES #21
rcookie says(): 21. In order to maintain macroeconomic stability, the government commits to implement a large fiscal consolidation to bring spending into line with available resources in 2015 and 2016.
This will require: (i) a sizable reduction in the non-oil primary balance2 (quantitative targets, Table 1), of about 12 percent of non-oil GDP (ID 24 trillion, or $20 billion) over 2013–16;3 and (ii) a large increase in mostly domestic but also external financing over the short run that will remain compatible with debt sustainability in the medium run.
In order to minimize the impact of the fiscal consolidation on the population, the government will protect social spending, i.e. spending on health, education, and transfers in support of the social safety net, the internally displaced and the refugees (quantitative targets, Tables 1 and 3).
john09 says(): thought so ty
rcookie says(): DONE OR NOT DONE....
templejc says to rcookie(): HECK HAVE NO CLUE (lol)
rcookie says(): DONE
subgirl says to rcookie(): I was gonna say that lol
rcookie says(): HERES #23
rcookie says(): In order to finance the non-oil primary fiscal deficit, the oil investment expenditure and the debt service, the government will have recourse to oil revenue (ID 55 trillion), domestic financing (ID 33 trillion) and external financing (ID 2 trillion).
The domestic financing will be covered by the issuance of Treasury bills, out of which up to ID 15 trillion will be refinanced by commercial banks at the discount window of the CBI.
The external financing will be covered by the loan from the IMF under the RFI ($1.2 billion, ¶13), a Development Policy Loan by the World Bank ($1.2 billion) to be disbursed in December 2015, and project loans by the World Bank ($35 million), the Japan International Corporation Agency (JICA, $307 million), and Italy ($40 million).
templejc says to rcookie(): THE QUESTION I HAVE IS HOW MANY ARE ON THE LIST & HOW MANY ARE LEFT TO GET DONE?
angus says(): Done
designbyg says(): I have read and understood the above. X__________________
rcookie says(): HOLLY JUST BROUGHT MORE CONFIRMATION OF CITIZENS BOND PROGRAM TODAY...AND THE WB..IMF...JICA LOAN AND ITALY LOAN ALL IN 2016 BUDGET...
nromeo says(): I don't think people mean to be negative,just that anyone who is in this investment for 5 to 10 years and have been told everyday by these idiot gurus that it is going to rv tomorrow and it doesn't happen for that many years starts believing no matter how good the news you start believing it when I see it.
They are doing great things and moving forward by leaps and bounds which they never did before but i think everyone is still skeptical because it is the unknown that they still have to do in order for them to change their currancy
rcookie says(): THE REVIEW PERIODS AGAINST TASKS ARE LISTED IN TABLE 2...AND RUN THROUGH THEIR DEPARTURE FROM THE OVERVIEW PERIOD IN 2016..
designbyg says to nromeo(): thats it....you nailed it.....all you gotta do is NOT read the idiot gurus and yer all set......
Where'sthebeef says(): good morning. I have a qucik question. I got on for a brief time last night and saw people saying they would for sure be in article 8 by the end of the month.
It was said the MD brought an artilcle that stated that, but when I read what they were talking about, I did not see where it stated Iraq would be in article 8 by the end of the month.
Soooo, I may have not have been looking at the correct aritlce. I read her breakdown this morning, and still didn't see it. Can someone please point me to where it stated Iraq will be in article 8 my months end. I would greatly appreciate it. Gracias!
rcookie says to nromeo(): NO..NO.NO..THAT IS THE POINT...IT IS NOT THE UNKNOWN....IT IS VERY MUCH KNOWN...AND IN WRITING...JUST FOLLOW ALONG AND UPDATE AGAINST TASKS...
rcookie says to Where'sthebeef(): BECAUSE IT DOESNT EXIST..
Where'sthebeef says(): Ok. That's what I thought. Do you know where people got that Iraq would be in article 8 by months end? thanks
rcookie says to Where'sthebeef(): IT IS NOT AN ARTICLE...IT IS AN EXCERPT FROM THE 2016 IMF LOI..MEFP & TECHNICAL MOU...
nromeo says(): I think md received that info from someone she trusts and checked out
rcookie says(): HERE IS #24...
rcookie says(): To ease the cash constraint in 2015-16, the government of Kuwait has agreed to the postponement of the payment of the balance of war reparations ($4.6 billion, or 4 percent of non-oil GDP) by the Iraqi government to 2017.
rcookie says(): DONE OR NOT DONE.....
angus says(): Done
subgirl says to rcookie(): DONE!
Where'sthebeef says(): Ok, then I read it. I knew I hadn't lost my mind. I wish it said that they would for sure be in article 8 my months end, but it doesn't say that. soon though, soon!
rcookie says(): AGAIN...THIS IS # 25...AND EXACTLY WHY THE APLICATION OF 2010 CUSTOMS TARIFFS WAS NOT AN OPTION....'
THIS IS WHAT THEY ARE TASKED TO DO IN THEIR 2016 BUDGET NON OIL REVENUES GOALS...
rcookie says(): collect at least ID 8.8 trillion (6.5 percent of non-oil GDP) in non-oil revenue, out of which ID 1 trillion from an increase in wage taxation; and
Geofitness says(): rcookie: THE QUESTION templejc HAD IS HOW MANY ARE ON THE LIST & HOW MANY ARE LEFT TO GET DONE?
kevin311312 says(): do they have to rv to be in article 8 ???
larrykn says(): rcookie then my question is if by the end of feb 2016 they have lifted the restrictions on exchange what would be their next step right after that
rcookie says(): I AM GOING THROUGH...THERE ARE DIFFERENT CATEGORIES .. PUBLIC FINANCIAL MANAGEMENT REFORMS...BANKING SUPERVISION...PROGRAM MONITORING....
Dinar Investor says(): Did anyone have a link to that article? Not talking about the link to the fourm the actual article where it states by feb 2016
templejc says(): THESE ARE GREAT QUESTIONS GUYS!
rcookie says(): IT IS NOT AN ARTICLE......
templejc says(): MD NEVER POST A LINK TO THE ACTUAL ARTICLE I BELIEVE
rcookie says(): PLEASE YOU GUYS...IT WILL PROVIDE SO MUCH INSIGHT AND COMFORT IN READING AND APPLYING WHAT IS IN 2016 BUDGET VERBIAGE...2016 IMF LOI/MEFP/TECHNICAL MOU...
daytrader says to Dinar Investor(): You can go to the IMF website and pull the document. http://www.imf.org/external/country/IRQ/index.htm
templejc says(): I LOVE THIS CONVERSATION
templejc says(): THANKS DAYTRADER
Comments may be made at the end of Part 3 Thank You