Post From Dinar Updates
Chat Room Excerpts & Highlights
Dinar Updates Wednesday PM Chat 10-26-16 Part 2 of 3
_firefly_ says():This is the Arabic side
_firefly_ says():Iraqi authorities continued its discussions with experts from the International Monetary Fund in Washington DC during the period 6-10 on the first review of the standby agreement of duration 36 months credit, approved by the IMF Executive Board on 7 July 2016 (see press release No 16/123).
In this regard, Mr Christian jaws, head of the IMF mission to Iraq, made the following statement:
"The Iraqi authorities made good progress towards completing the first review of the standby credit agreement.
"Once you submit the requested additional information and the implementation of actions agreed presets, the Executive Board will consider the first review of the standby credit agreement, which is likely to be in November or December.
"During the discussions, the Group met with Dr Ali Mohsen Ismail relationship acting Central Bank Governor, Dr Fadhil Nabi Othman, Deputy Minister of finance, Dr appearance in favor of a financial adviser to the Prime Minister, and other officials from the Ministry of finance and the Central Bank of Iraq and the Kurdistan Regional Government representative. The Fund's team would like to thank the Iraqi authorities on good cooperation and frank and fruitful discussions. "
Communication Department, International Monetary Fund
Media Relations Department
dinarmassa says():Has anyone seen if last night's call was posted yet
BGG says to dinarmassa():Working on it now.
_firefly_ says():"Once you submit the requested additional information and the implementation of actions agreed presets, the Executive Board will consider the first review of the standby credit agreement, which is likely to be in November or December.
_firefly_ says():and the implementation of actions agreed presets,
_firefly_ says():These words are what we've been waiting for for so many hyears !
_firefly_ says(1:08 PM):years
loop says():Samir Abbas Alnasiri *: see the economic reform after Daesh
BY SAMIR ALNASIRI- PUBLISHED IN 26/10/2016
What occupies the street and popular economic and currently is taking place from the discussions and interactions of political, security and humanitarian in the Council of Ministers and the House of Representatives and stakeholders is the subject of liberalization of Mosul, and what are the visions of [...]
What occupies the street and popular economic now and what is going on now of discussions and interactions of political, security and humanitarian in the Council of Ministers and the House of Representatives and stakeholders is the subject of liberalization of Mosul ,
and what are the visions and orientations after Daesh and the effects on the reality faced by Iraq at the present time it is how to bypass security and its economic crisis and financial afflicting more than two years because of falling oil prices on the world market and the costs of the war on terrorism
and the misuse of public money management and financial and administrative corruption and quotas that caused the leadership of the economic institutions of the people is competent and incompetent and the dimensions of competent and independent from participating in the management of these institutions technocrats.
in addition, and this is important, the lack of an economic approach to economic and a clear strategy features and goals and not to involve the private sector in managing the economy and the weakness of support and assistance for his contribution to the diversification of non - oil budget resources and the transition to the economy of rent - seeking to production.
That we're interested in all of this is what are ( the vision for economic reform after Daesh) in terms of the allocation of resources in the budget and take advantage of loans and grants and international aid in the reconstruction of cities liberated and activate and stimulate the private sector and encourage him to contribute with the government in the implementation of their plans
as well as the rehabilitation of human resources in the removal of the war on terrorism and the decline in world oil prices and the suffering of the government and the people displaced from the economic and security crises and examine the reality of the Iraqi economy during the past effects ( 2014-2016 ) as well as a strategy and the vision of new economic economic reform for the next five years beyond the expulsion Daesh and the liberation of all occupied lands , and specifically for the years ( 2017-2021) , as follows: -
1. Allocation of 50 percent of the assignments was to monitor the costs of the war on terrorism for the purposes of the reconstruction of liberated areas in addition to the allocations reconstruction fund allocated to international and grants for this purpose.
2. Establish a body or a large enterprise competent for financing small and medium enterprises and the formation of banking system of cooperation and coordination with them under the supervision of the Central Bank and the Association of Banks in collaboration with the Ministries of Planning and Development Cooperation, Agriculture, Industry and Finance to lay the foundations and operational mechanisms for application in the liberated provinces to achieve the goal of Youth Rehabilitation and especially graduates of them the sons of these provinces to establish small and medium-economic projects to convert them to the producers of the unemployed and turning them from hopeless to the researchers hope their contribution in building the national economy.
loop says(1:11 PM): 3. The establishment of a development bank and investment as the government's share is not more than 25 percent of the capital and the private sector contributes Baktaath all for large in the capital and managed the mentality of the market economy and is subject to the control and supervision of the central bank and the Financial Inspection Office and be the role of government is focused on the support and backing and to identify development projects and large investment that contributes to the funding.
4. Allocation of funds from the International Monetary and banks and financial institutions will get Iraq for the next three years for the establishment of industrial zones and supporting the large contribution of the private sector and the agricultural projects of young graduates to diversify non-oil resources fund loans.
5. Establishment of the Central Bank and the Association of Banks and the private sector, civil society organizations and the private banks to achieve economic and social objectives of the organization and leadership campaigns to finance and reconstruction projects that serve vast segments of society and reduce the unemployment rate similar to the rehabilitation of Rasheed Street and public squares in Baghdad called for CBI.
6. To reconsider the laws of the legislative environment governing the economic process, particularly investment banks and the central bank and stock market laws and registration of companies, including helping to lending operations tax and settling accounts and guarantees required from entrepreneurs and the mechanism for the payment of their dues.
7. Development and activation and implementation of the government's plans in e-government applications and electronic pre-emptive censorship and that limit the operations of financial and administrative corruption.
8. Activation of the Council of Ministers' decision to establish a deposit insurance company, which was the goal of its founding restore public confidence in the trust sector, the Iraqi banking and increase the savings rate among banks rather than compactness in their homes, and their impacts on the contribution of funds of citizens in sustainable development that is to urge and compel the government and private banks contribute to this company.
9. Return the structural and institutional reconstruction of the economy development of the foundations and infrastructure for the management of the economy which is the Supreme Council for economic reform and approval of the draft law submitted three years ago and did not approve of the House of Representatives and the establishment of the National Provident Fund or the sovereign Provident Fund to pool resources in non-oil and oil surplus to the planned selling prices rates annual budgets as well as the establishment of the national Commission for decades, investment and trade and the withdrawal of all contractual powers vested in the ministries.
10. Establish the National Council for reconstruction instead of the current Housing Fund and the reconstruction of liberated cities and Daesh The feasibility study for all large investment projects and infrastructure projects submitted by the provinces and monitor its allocations and the reviewing and monitoring and evaluation.
11. Founding of the National Center for Rehabilitation and distribution of human resources and specializes in the rehabilitation and training of graduates and deployed to rehabilitation centers and training of government and private prior to their appointment to the central and state ministries and private sector projects, according to the annual development plan and budget requirements.
12. Founding of the National Center for Consulting and Strategic Studies to attract all the talent and expertise of Iraq at home and abroad for the purpose of providing the governmental institutions and the private sector leadership of the administrative and technical (Techno Hippocrates) to manage all state institutions without quotas and consensual.
( *) Banking expert and member of the World Union of Arab Bankers
Copyright Network economists Alaracyinz allowing re-publication, provided reference to the source. 26 October / the October 2016
_firefly_ says():I told you folks 2 years ago now ..... "Watch Mosul"
_firefly_ says to loop():(y)
loop says to _firefly_(I remember that. Good call.
_firefly_ says():My question is ..... What comes 1st, the chicken or the egg :)
_firefly_ says to loop()::)
loop says to _firefly_():It's all edible to me..
_firefly_ says to loop():lol
_firefly_ says to sheila3():Prior agreements huh?
_firefly_ says to sheila3():Implementation !!!!!!
sheila3 says to _firefly_():(y)
_firefly_ says to sheila3():Wow wow wow
_firefly_ says():And who was the IMF meeting with for these prior agreements and to be implemented?
_firefly_ says():the team met with Acting Governor of the Central Bank of Iraq (CBI), Dr. Ali Mohsen Ismail Al-Allaq, Deputy Finance Minister, Dr. Fadhil Nabee Othman, the Financial Adviser to the Prime Minister Dr. Mudher Saleh, and officials from the ministry of finance, the CBI, and a representative from the Kurdistan Regional Government.
_firefly_ says():All financial reps !!!!!!!!
sheila3 says to _firefly_():wow,(y)
Elane says to _firefly_():awesome!
Dinarian1 says to _firefly_():Most Awesome!!!
_firefly_ says()::) (y)(y)(y)
_firefly_ says():This picture is becoming VERY clear
Dinarian1 says to _firefly_():My window is still foggy a bit... need to see from your window LOL
Dinarian1 says to _firefly_():All joking aside... yes this is coming together so well and the sooner the better!!
_firefly_ says to Dinarian1():additional information has been provided and agreed prior actions have been implemented,
_firefly_ says to Dinarian1():Can't get any clearer than that :)
Dinarian1 says to _firefly_():(handshake)
_firefly_ says to Dinarian1():(handshake)
_firefly_ says to Dinarian1():Gotta scoot for a bitt folks, have a GREAT week :)
sheila3 says to _firefly_():you too :-*
_firefly_ says()::) (})
sheila3 says to _firefly_():(})
Dinarian1 says():its funny, my wife and I have side bets as to when this is going to pop... I think we will both will lose as it appears to be happening sooner rather than later, at their current pace. Which is FINE by me!! :D
loop says():Here is an article posted by Madscout on the news forum.
loop says():Parliamentary Finance: appointments in the budget of 2017 zero
Views 185 Added 26/10/2016 - 19:10
Economy News / Continue ... Revealed the parliamentary finance committee member Masood Haider, Wednesday, that the number of grades in the draft financial budget law for 2017, zero, while noting the inability of Government or parliament Add your grades.
Haider said in a press statement, said that "a number of grades and project grades Act of 2017, non-existent means equal to zero," denying "the existence of degrees related to the appointment of the ministries of defense, interior, education and other ministries."
Haider said that "the reason for the lack of job grades to balance in 2017, because of the conditions of the International Monetary Fund, which borrowed money from Iraq," stressing that "the government and the parliament is obliged to this matter and we can not overcome or modified to add appointments."
loop says():"the reason for the lack of job grades to balance in 2017, because of the conditions of the International Monetary Fund, which borrowed money from Iraq," stressing that "the government and the parliament is obliged to this matter and we can not overcome or modified to add appointments."
Okie Dinar says to sheila3():Sorry my zoom was off :)