DELTA: FAMILY I GOT THE ARTICLE ENJOY:
IMF calls on the Government of Abadi to achieve reforms in exchange for loans
July 9, 2016
BAGHDAD / News Network Iraq and the IMF agreed on Saturday to give Iraq a line of credit worth $ 5.34 billion to help it overcome the financial crisis faced after the deterioration of oil prices and the war against Alarhab. ooodh Fund said in a statement, that the Iraqi government will take place in case a loan an initial value of $ 634 million, while it must implement a series of economic reforms to get the rest of the installments of this assistance plan for three years.
The statement quoted Zhou Min, one of the assistant directors of the Fund, as saying: "Iraq's economy has suffered severely from the double trauma of the organization of the Islamic state and severe attacks decline in oil prices." Fund expressed in his statement expressed concern about the arrears, especially the "big" accumulated on Baghdad, which is struggling to meet its financial obligations.
The fund was granted in Baghdad in July 2015 a loan of $ 1.24 billion to help the advancement of the public own finances. Under the previous rapid financing tool program.
Iraq is going through a financial crisis due to falling oil prices, which constitutes 90% of the public budget is paid to borrow from the International Monetary Fund and the World Bank and earned them about $ 15 billion received by over three years.
Aaron: Wow..!!! Thank you so very much Delta…
This implies many things IMO
- It is known that there ARE conditions to be met by Iraq BEFORE IMF fund disbursements.
- Economic Reforms ARE known to be some of the conditions that must be met prior.
- It is thought that items such as elimination of MCP, implementation of Taxes/Tariffs, etc. must also be met prior.
- It is also thought that an IQD RATE adjustment must also be implemented PRIOR to the IMF fund disbursements.
Now, coupling this with what Delta’s post states…
Item 1: The IMF is asking the Government to jump (and not mentioning the CBI)
As, in my opinion, the CBI is ready – yeah..!!
Item 2 : “…in exchange for the REST of the loan.”
This tells me, then, that a partial payment has possibly been made…
(That hasn’t been announced yet, or that we possibly can’t see yet because of all the holidays, etc.)
If, in fact, this is true (that a partial payment has been disbursed)
Then OH BABY..!!! Iraq has done something that we are not yet privy to..!!!
Their meaning MIGHT(?) better be stated…
“…Government to COMPLETE economic reforms (in which you have started) in exchange for the rest (balance) of the loan. (in which WE have started)”
Maybe I’m just looking thru dinar colored lenses, but this is good.
Hope everyone has a fantastic weekend and very excited to see what unfolds next week..!!! –Aaron
Frank26 video : https://youtu.be/1gAPYDMivA8