Post From Dinar Updates
Chat Room Excerpts & Highlights
Dinar Updates Thursday PM Chat 7-7-16 Part 2 of 3
_firefly_ says():Out of curiousity since I just got on. Did anybody bring in any new stuff on Mosul?
_firefly_ says():So nothing in print obviously
Pablo says():I've heard more victories.
_firefly_ says to clay():Thanks :)
clay says to _firefly_():cookie brought in about kurds getting more arms from the US thats it
_firefly_ says to clay():That's old news lol
clay says to _firefly_():oh ok
clay says to _firefly_():lol
DTE says to _firefly_(): Throwing Iraqi flags and leaflets indicate (victories) over Mosul
Thursday July 7, 2016 - 11:49
Declared war media cell, on Thursday, throwing Iraqi aircraft flags and "millions of publications that refer to the victories" over the center of the city of Mosul (405 km north of Baghdad).
According to a statement released by the cell in the (long-Presse) ,, that "the Iraqi air force planes dropped millions of paper publications and Iraqi flags on the center of the city of Mosul."
The statement added, "The publications include News victories of our armed forces in Fallujah and the northern Salahuddin and news refraction Daash gangs and terrorist Anhzamha."
The commander of the liberation of Fallujah operations Lt. Gen. Abdul-Wahab al-Saadi said in the (26 June 2016), the end of military operations in the city, (62 km) west of Baghdad, officially yet fully edited.
He announced the Prime Minister Haider al-Abadi, the Friday (17 June 2016), editor of Fallujah officially, while stressing that it has returned to the bosom of the nation again and that there are some spots within them will be handled.
The organization (Daash) took over the city of Mosul, Nineveh province, (405 km north of Baghdad), in (the tenth of June 2014), before extending his terrorist activities for many other areas of Iraq and is committed where "many violations" promised local and global points of "crimes against humanity and genocide."
clay says to DTE():wow where did that come from
clay says to DTE():nothing on our news lol
DTE says to clay():from Romello
_firefly_ says to DTE():That article or whatever you want to call it lol is 2 days old, but TY
clay says to DTE():ok thanks
Pablo says():It doesn't bleed, so it doesn't lead.
_firefly_ says to DTE():And so far NO IMF loans
Pablo says():So, what does that mean?
_firefly_ says():Use common sense, it will come to you :)
Woodywoodpecker says():what if you dont have any common sense
clay says to _firefly_():yep thats what you been saying
Pablo says():You expecitng that next week?
_firefly_ says to clay():I also told you guys about Mosul 2 yrs ago and everyone laughed at me :)
clay says to _firefly_():dont remember ...that Iraq had to liberate it 1st to secure its borders?
Pablo says():I do remember that.
_firefly_ says to clay():hold on, this blasted chat chat froze on me again. brb
_firefly_ says():You guys ready to be the 1st to get IMF and Iraq news?
_firefly_ says():hot of the press
firefly_ says):IMF Executive Board Approves US$5.34 billion Stand-By Arrangement for Iraq
Press Release No. 16/321July 7, 2016The Executive Board of the International Monetary Fund (IMF) today approved a three-year Stand-By Arrangement (SBA) for Iraq for SDR 3.831 billion (about US$5.34 billion, or 230 percent of quota) to support the government’s economic reform program.
The Board’s approval enables the disbursement of SDR 455 million (about US$634 million). In July 2015, Iraq received disbursement under the Rapid Financing Instrument equivalent to SDR 891.3 million (about US$1.24 billion at the time of approval).
_firefly_ says():The Board’s approval enables the disbursement of SDR 455 million (about US$634 million)
_firefly_ says():Ask and ye shall recieve huh?
_firefly_ says():love it
_firefly_ says():Iraq’s economic reform program supported by the SBA aims to address the urgent balance of payments need, bring spending in line with lower global oil prices, and ensure debt sustainability. The program also includes measures to protect the poor, strengthen public financial management, enhance financial sector stability, and curb corruption. Iraq will require the support of the international community to implement these policies.
The IMF’s Management today also completed the first and second reviews of the Staff-Monitored Program (SMP) with Iraq that was approved by the Managing Director on January 12, 2016. (See Press Release No. 16/04).
Following the Executive Board’s decision, Mr. Min Zhu, Deputy Managing Director and Acting Chair of the Board, issued the following statement:
“The Iraqi economy has been hit hard by the double shock arising from the ISIS attacks and the sharp drop in global oil prices.
_firefly_ says():enhance financial sector stability !!!
_firefly_ says():“The policies put in place by the authorities to deal with this double shock are appropriate. In the fiscal area, the authorities are implementing sizable fiscal adjustment, mostly through inefficient capital expenditure retrenchment while protecting social spending, and financing. In the external area, the authorities are maintaining the peg to the U.S. dollar, which provides a key anchor to the economy.
“The fiscal adjustment envisaged in 2016–19 is appropriate to address the pressure from lower oil revenue and higher humanitarian and security spending. But the composition of the fiscal adjustment should be improved over time, in order to make room for increased but more efficient investment expenditure.
Overhaul of the public financial management system is necessary to improve fiscal discipline and the quality of spending. Implementation of the budget-sharing agreement with the Kurdistan Regional Government will put both the federal government and the Kurdistan Regional Government in a better position to address the ISIS attacks and the oil-price shock.
_firefly_ says():WOW !!!!!!!!!!!!!
Pablo says(): So, the held off on the coins till this got approved?
_firefly_ says “The accumulation of large external arrears to international oil companies and domestic arrears in 2015 was unfortunate. Existing arrears should be paid down, following a due process of checking their validity, and the implementation of controls to prevent further accumulation of arrears to international oil companies and domestic suppliers.
The prevention of future external arrears would ensure that the envisaged oil revenue stream—needed to finance public expenditure and imports—is achieved; the prevention of future domestic arrears would preserve financial sector stability.
“To strengthen growth and financial sector stability, the legal framework of the Central Bank of Iraq needs to be strengthened, state-owned banks need to be restructured, and exchange restrictions need to be gradually removed.
Additionally, measures need to be implemented to prevent money-laundering, counter the financing of terrorism, and strengthen the anti-corruption legislation.”
Elane says():Great news article...
_firefly_ says():“To strengthen growth and financial sector stability, the legal framework of the Central Bank of Iraq needs to be strengthened, state-owned banks need to be restructured, and exchange restrictions need to be gradually removed.
SRW says():Thanks Firefly! You the Superfly!!
_firefly_ says():ANNEXRecent Economic Developments
Iraq has been hit hard by the conflict with ISIS and the precipitous fall in oil prices. The ongoing armed conflict with ISIS continues to strain the country’s resources and is resulting in new waves of internally displaced people, now reaching over 4 million.
Around 10 million people, comprising some 27 percent of the population, are in need of humanitarian assistance. The steep fall in oil prices is causing a large external shock to the balance of payments and budget revenue, which depend predominantly on oil export receipts.
Real GDP contracted by 2.4 percent in 2015, in spite of a 13 percent increase in oil production. The non-oil economy experienced broad-based economic contraction (-19 percent) as a result of the conflict with ISIS and the ongoing fiscal consolidation.
The authorities are responding to these challenges with a mix of fiscal adjustment and financing, while maintaining their commitment to the exchange rate peg and protecting social spending such as health, education, food and agricultural subsidies, and transfer to internally displaced people and refugees.
_firefly_ says):The authorities are responding to these challenges with a mix of fiscal adjustment and financing,
_firefly_ says():Ummmm, can we say ....... BINGO !
Elane says():Can we say "BAM" too?
Elane says():Holy cow pies FF.. great stuff
Woodywoodpecker says():thanks Mr Fly
_firefly_ says():Remember, this is the IMF talking !
_firefly_ says():not some dinky Iraqi article
Elane says():No dinks here