Millionday Friday Night News 4/18/14 Part 1
[millionday] this is the first time this has happened and is going on right now
[millionday] Baghdad: launched in Baghdad on Thursday, the first Arab conference for accounting and auditing in cooperation with the Arab League and the PES for Administrative Development and the Arab development.
The captain of accountants and auditors in Iraq tributary of the pendulum for "tomorrow's Press", "The conference will discuss over two days, the role of accounting in the development of the investment business and the public sector and the liberalization of companies and factories of reactionary administration," he said
[millionday] note -- remember the report we looked at about the isx and what they needed as well -- this goes along with the activation and the accounting is huge -- this is huge
[millionday] adding that "the conference, which was hosted by the Iraqi capital Baghdad came with the participation of Arab and wide in addition to the global economic institutes have different expertise in the development of large accounting and economic work.
[millionday] note -- obviously all experts there to help with the economic reform work
[millionday] and institute expertise to do it all right with the accounting
[millionday] "The conference will discuss a number of economic research presented, which represents all Arab countries to participate, in addition to the comprehensive research of France highlights the most important factors of economic advancement and the investment of the States.
[millionday] note -- the advancement and investment is always great to see
[millionday] note -- THE REASON FOR THE CONFERENCE >>>>He stressed that "one of the custom research is the development of the private sector to adopt successful international experiences in accounting work.
[millionday] NOTE -- THIS IS WHO IS THERE >>>>>It is said that the most prominent research participate in the conference Kdmn from France, Iraq, Algeria, Tunisia, Egypt, Morocco, Jordan, Palestine, Belgium and the United States.
[millionday] WHOOOOPOW -- and as with what was said today -- no they are not there to brush up on their international investment skills
[millionday] end of report robin
[tbob] whooop whoop!!!! lol
[ROBINREDHED] kimberly1 go
[kimberly1] That really does seem like the bow on the package doesn't it?
[millionday] welcome all that have just come in
[chattels] millionday millionday millionday
[coyoteTx] sorry had to work..............what was said today, Million can you repeat???
[millionday] kimberly1 with who is there it seems extremely important and very encouraging -- very -- this is the work concerning the advancement of the economic reform --- smile
[millionday] chattels chattels chattels
[millionday] and as with what was said today -- no they are not there to brush up on their international investment skills -- smile
[coyoteTx] ok, thx Million!!!
[millionday] is that all the ???
[millionday] yw all the time
[kimberly1] All preparation to hit the floor running it would seem
[millionday] i agree it is huge preperation and progress
[millionday] you like it red ? smile
[ROBINREDHED] dovi go
[millionday] smile me too !!
[dovi] I don't see how you can connect it to rv..but you know me
[millionday] let me explain
[millionday] there are many country experts and accounting and auditing experts there to ensure one of the custom research is the development of the private sector to adopt successful international experiences in accounting work.-- that is just one thing they are there to ensure
[millionday] >>>>>The conference will discuss over two days, the role of accounting in the development of the investment business and the public sector and the liberalization of companies and factories of reactionary administration,
[ROBINREDHED] coolspot coolspot go
[dovi] thanks I appreciate that
[millionday] so this is the advancement that will take place with the administration reform and also the economic reform
[millionday] yw all the time
[jtank] finished today?
[millionday] yes should be
[millionday] coolspot ?
[coolspot] MD have you seen anything whereby CBI will be offering to the manufactures credit export insurance on secured orders to boost exports?
[millionday] not yet -- i am looking though -- not to say i wont have it in a minute i have alot tonight
[ROBINREDHED] lstar877 go
[lstar877] So how long in your mind md do u think it will take from here to get into wto? Days weeks months?
[millionday] the wto accession to active membership will be after their reality rate is set so i hope very soon -- with the news about the tarriff and customs meeting concerning the wto accession today it seems to look as though not long for their accession
[lstar877] Thnx so much md! Really appreciate u!
[millionday] yw all the time hun
[Richard Incrocci] ???
[ROBINREDHED] Richard Incrocci go
[Richard Incrocci] With a caretaker Gov't in place until elections, how does that play into everything happening?
[millionday] right now they have the same gov -- the caretaker gov has no bearing on what CBI does for the country and their job but that was an opinion peice stating that they may have one if elections dont go etc
[Richard Incrocci] Ok, Thank you
[ROBINREDHED] jtank go
[jtank] The wto meets a few times a yr--when is the next meet date for prospects
[millionday] yw all the time hun
[millionday] i have not seen when the next meeting is past this one for iraq -- i will check for us though -- good question
[millionday] International Monetary Fund said it should countries in the Middle East and North Africa make ambitious reforms to achieve sustainable growth provides more job opportunities and promote equality and diversification of the economy.
said the fund said in a statement that the challenges facing the region occupied a prominent place on the agenda of the Spring Meetings in 2014 and held by the Fund and the World Bank in Washington DC last week, and included meetings of ministers and senior government officials.
[millionday] note -- so they are saying that they were told this at the meeting -- love it
[millionday] to move forward with economic reforms -- smile
[millionday] note -- we never see Iraq in these statements -- smile
[millionday] focused IMF officials on a commitment to work with all countries in the region, including the transition countries of the Arab, Egypt, Jordan, Libya, Morocco, Tunisia and Yemen - and the willingness to make efforts in this regard. said Director General of the Fund Christine Lagarde:
[millionday] i would say they are of the Arab
[millionday] "We have the Fund's work with all member countries have expressed an interest in a partnership with him," pointing to the programs that work from which the fund with Jordan, Morocco, Tunisia, and technical assistance to Egypt, Libya, and the ongoing discussions about a new program Yemen.
Said fund in his statement that the economic situation for the oil-importing countries in the region is still difficult, especially that started the political transformation since more than three years.
[coolspot] These meetings have much to do with international trading practices, policies and procedures geared to increase exports and to open another avenue earner other than oil.
[millionday] note -- i would also say that they are an oil-producing country that has much to do with what can be imported
[millionday] this is an update that was sent to me from financial experts and group on iraqi condition
[millionday] - in order to stimulate growth in the country and private sector participation in the development process taking place in the country,
experts called to support the project «revitalize the Iraqi economy» and activate the strategies adopted by the government in line with the current circumstances, especially that Iraq has financial reserves huge can be invested in achieve this.
[millionday] Project manager Dr Abdul Muti pumice confirmed »Sabah» that the draft submitted to the state was based on the Constitution and the five-year plan of national (2013 - 2017),
as well as special studies and research centers and Iraq's economic and foreign. pointed pumice that the project «activate the Iraqi economy »adopted by the Iraqi Businessmen Union is an extension of the project of economic reform,
which was carried out by the Union in the year 2012 - 2013 and came out with recommendations submitted to the responsible parties in the government and parliament, and
[millionday] note -- this is saying that part of the plan is to activate the Iraqi economy and they have the reserves to do it
[coolspot] Because of the deficit in the budget they need to export and lessen imports although the tariffs on imports will help. Bear in mind they earn foreign exchange on exports which help their balance of payments!
[millionday] note -- something we have seen
[millionday] we have seen some positive effects, particularly the activation of the laws on tariff and protection of Iraqi products and consumer protection.
Meanwhile, said economic expert on behalf of Jamil Anton, Vice President of the Federation and the presence of human potential high (30 University) and completed (14) strategic and economic roadmap approved by the Council of Ministers,
but the dominant presence of the absence of balance and lack of integration between the public and private sectors.
[millionday] note -- the lack of balance with the public and private sectors will be changed and improved with economic reforms and the activation of the isx
[millionday] saw Anton said «provincial councils turned to the boards of a political, and not the boards production and services, especially as the annual budgets are not the paragraphs referring to the private sector, in what was supposed to be involved in developmental processes.
warned that« the industry semi-dependent, it is the total (35) thousand industrial project works what does not more than 10 percent and production capacity is low, while the expenses amounted to import more than 74 billion dollars for the introduction of goods randomly not based on the needs of the market », he says.
[millionday] note -- the needs of activating all of these industries must be met for private sector growth --- budget or at least funds smile
[millionday] either economic expert Majid picture revealed the existence of a financial reserve can significantly involvement in the process of revitalizing the Iraqi economy,
indicating that «there (38) trillion dinars at the central bank, and (6) the trillions in the bank, in addition to (3) trillion budget surplus, in addition to other amounts to the pension funds, insurance, endowments, while there (6000) project unfinished.
[millionday] note -- insurance in the bank
[millionday] note and also the projects not finished due to lack of funds
[millionday] The new mock his call to establish a Supreme Economic Council to draw strategies sectors, made up of members of the 50 percent of them from government experts and the other half from the private sector,
stressing the importance of the legislative environment to enhance the Iraqi economy by issuing new legislation could be proposed by the Supreme Economic Council, including the fee system of the economy.
[millionday] this would be comparable to a business committee for the private sector -- to move the heart of the economy -- drive it
[millionday] end of report robin*
[millionday] the fee system is what is paid for licensing--and permits etc
[ROBINREDHED] Richard Incrocci go
[Richard Incrocci] Will any of the reserves be used for the calculation of the rate change? IQD Reserves
[millionday] yes they are used for the calculation
[Richard Incrocci] Ok, are there as I think i have read 90 T in reserve now?
[ROBINREDHED] kimberly1 go
[kimberly1] We have seen many pieces fall into place in the recent weeks and days as the picture fills in, my question is what is lacking to complete the picture? what clues are we now looking for as we scan the intell coming in?
[millionday] i would say that they are wrapping up the budget and the last steps we were announced about when CBI stated they were raising the value and setting the rates now and it is being done by steps per the private banks and cbi -- they all will be done around the same time --- not that it has to be after the budget or before -- all around the same time for financial success
[millionday] i go by the ink i see --- and by what the ink states -- we are waiting on these steps to get to the one that is the raise of the value and also the setting of international rates
Comments may be made at the end of Part 2 Thank You