Millionday Roundtable 5/4/15 Part 2
Welcome to dinarupdates.com for Roundtable with Millionday!
thomas1: did think PM has enough clout to stop the fair and move forward with the rv and reform MD
Millionday: NO -- CBI IS INDEPENDENT AND THE GOV CAN NOT INTERFERE -- HOWEVER THEY HAD THINGS THEY ALSO HAD TO CHANGE AND APPLY THROUGH ECONOMIC LAWS AND POLICIES –
MOST OF WHICH ARE DONE -- THE REFORMS NEED TO BE ACTIVATED AND THE GOVE PROGRAMS AND THE STRATEGIC FRAMEWORK AGREEMENTS ETC -
Millionday: WE HAVE TO REMEMBER THAT THE FUNDS FOR THE SWF AND THE WORLD BANK LOAN AND THE IMF LOAN ARE NOT SOMETHING GOING ON IN THE FUTURE BUT ARE BEING ADDRESSED RIGHT NOW -- THE WORLD BANK DELEGATION IS THERE RIGHT NOW SO -- OBVIOUSLY BY ACTION -- WE CAN SEE THAT SOMETHING IS BEING DONE
Millionday: Abu Ibrahim Chechen been one of the organization "Daash" leaders died operation carried out by Iraqi security forces, in Salahuddin province, according to the channel "Press TV" Iran, yesterday.
The Chechen militants is responsible for the attack on the extremist organization Bigillnaft refinery, (40 km north of Tikrit), last month.
Millionday: Iraqi forces also confiscated during the extended operation in some areas of Salahuddin province, bulldozer belonging to the terrorists, and destroyed a factory for the production of explosives and dismantled a number of car bombs.
This is unknown, what is the real name of those who had called himself the "Abu Ibrahim Chechen", but the sites on the Internet reported that he was heading a camp to train militants, belonging to the group "Army of immigrants and supporters" and "Brigades of migrants," the anti-Syrian government, which part of them subsequently joined the ranks of the organization "Daash".
Millionday: SO AS WE SEE -- ANOTHER ONE BITES THE DUST
Millionday: Iraq participated represented by the Ministry of Labour and Social Affairs in the Arab Forum on Sustainable Development in Bahrain, to boot to participate in to participate in the World Political Forum to be held in June.
According to a statement of the ministry, agency / Source News / received a copy of it, today, that "the Minister of Labour and Social Affairs Mohammad Shia'a Sudanese, heads the Iraqi delegation to participate in the second session of the Arab Forum on Sustainable Development to be held in Bahrain for the period from the fifth until the seventh of May current ".
Millionday: NOTE -- THE 5TH TO THE 7TH OF MAY
Millionday: "The Arab Forum organized by the UN Economic and Social Commission for Western Asia (ESCWA) and the United Nations Environment Programme and sponsored by the League of Arab States in Bahrain aims to prepare to participate in the World Political Forum to be held in New York starting from June 26 up to eighth in July 2015".
"The Forum will be an opportunity to brief the participants about the most prominent international developments and the progress made in international tracks that lead to the adoption of the development plan for after 2015 and the goals of sustainable development."
Millionday: NOTE -- THE NEW YORK WORLD POLITICAL FORUM WILL BE FOR THE ANNOUNCEMENT OF DEVELOPMENT AND PROGRESS MADE
Millionday: The statement noted that "the Forum will include a discussion of associated third International Conference on Financing for Development to be held in Addis Ababa for the period from 13-16 July next issues,
and aims to exchange views on the position of the Arab region towards sustainable development objectives,
where discussions will focus on the analysis of the status quo and trends sustainable development in the Arab region on the basis of the results of the first Arab report on sustainable development and in particular on regional challenges associated with implementation. "
Millionday: NOTE -- THIS IS OBVIOUSLY THE GLOBAL UPDATE OF THE ARAB REGION SO THE GOAL WOULD BE TO HAVE MASSIVE UPDATES TO GIVE FOR PROMOTION OF ITS DEVELOPMENT AND RESULTS
Millionday: And that "will also focus on the scientific basis for sustainable development policies and national capacity-building on measuring progress on the objectives of sustainable development within the framework of the so-called revolution of data" .
Millionday: NOW HERE IS A STATEMENT FROM SOME THAT ACTUALLY IS PART OF THE SUBJECT MATTER OF FINANCIAL REFORM
Millionday: Economists call for reconsideration of the banking sector to activate the Iraqi economy and attract investment
Counting specialists, economists, on Sunday, that the legislative and financial obstacles highlighted the problems faced by the Iraqi banking sector,
while criticizing the conflict of the implementation of the Iraqi Central Bank instructions between private and public banks, called for a reconsideration of the work of this sector and to find capable banking system to attract investment and management of the country's resources.
Millionday: NOTE -- THE GOAL IS TO ATTRACT INVESTMENT AND ACTIVATE THE IRAQI ECONOMY –
THIS WOULD BE INCLUSIVE OF THE MOVE TO A MARKET ECONOMY DUE TO REPORTS THAT WE HAVE READ ON THE ECONOMIC PROGRAM
Millionday: The director of the Euphrates Center for Development Studies strategy, Khaled Aerada, in an interview to the (long-Presse), said that "the Iraqi banking sector, private and public, are suffering real problems most notably the legislative and financial obstacles", it returned it necessary to "shed light on those barriers and treatment."
Millionday: NOTE -- THE PROBLEMS ACCORDING TO THIS REPORT ARE THE LAWS NEEDED TO BE PUT IN PLACE
Millionday: He Aerada, that "the proportion of foreign investment in Iraq is low and not exceeding the 2 percent of the total investment,"
ruling out "the possibility of activating the Iraqi economy and achieve sustainable development without capable of attracting investment and management of the financial resources of the country by about an integrated banking system."
Millionday: NOTE -- THE BANKING SYSTEM NEEDS TO BE INTEGRATED AND THEY NEED MORE INVESTMENT IN THE COUNTRY -- KIND OF A CATCH 22 –
THEY NEED THE ECONOMIC REFORM IN PLACE FOR INVESTMENT AND NEED INVESTMENT LAWS FROM THE REFORMS OF IRAQ --- AND INVESTMENT -- NO GUARANTEES IN THE MARKET –
THEY SHOULD KNOW THAT --- THE STATS ARE THERE AND SO ARE THE AGREEMENTS --
Millionday: He called on the Director of the Euphrates Center for Development and Strategic Studies, to "re-examine the work of the Iraqi banking sector and find solutions that reduce losses in the current financial crisis in the country."
For its part, Director of the Trade Bank of Iraq in Karbala, Uras Abdel-Nour, in an interview said to (the long-Presse), said that "the Iraqi banking sector suffers conflicts of implementation of the Central Bank of instructions between the private and public sectors", calling for "the unification of work between the banks and the private and public sector systems ".
Millionday: NOTE -- OBVIOUSLY THE PRIVATE SECTOR AND THE PUBLIC SECTOR WILL UNIFY THE WORK OF THE BANKS
Millionday: In addition, said the economist, Ahmed Rehn, said in an interview to the (long-Presse),
he said that "the Iraqi banking sector faces caused by the work environment risks, and the limited resources available to credit, as well as other administrative problems,"
noting that "banks suffer big debts are difficult to be restored increasing the size of the loss and reflect negatively on the interest rates. "
Millionday: NOTE -- THE CREDIT RATINGS ARE NEEDED AS BANKING SERVICES NEED TO EXPAND INTERNATIONALLY
Millionday: He added Rehn, that "banks independent economic entities councils departments and their capital, and it has to devise effective solutions to their problems and to convince the State by the possible application commensurate with their resources,"
pointing out that "the state can help in improving the banks conditions and improve their performance."
Millionday: Meanwhile, the adviser said the National Investment Commission, Abdullah al-Bandar, in an interview to the (long-Presse), "The banking sector suffers many obstacles related to the banks themselves and their boards of directors and shareholders and limitations of the central bank imposed on both private without government".
Millionday: NOTE -- REMEMBER THE STALL IS IMPACTING THE SHAREHOLDERS TOO
Millionday: He revealed al-Bandar, for "having problems legal Balaanaat and complaints from the money that is holding in banks and can not be disposed of,"
returned to "the banking sector's problems need to be radical solutions will not be identified, only direct meeting between decision-makers and concerned government agencies and the private sector."
Millionday: He criticized the National Investment Commission adviser, "the Iraqi banking sector failure has led to the reluctance of many investors from entering the local market, and form a negative factor, plus the security and economic problems", calling for the need to "restructure the Iraqi banks."
Millionday: NOTE -- THE BANKING REFORM AND LAWS HAS TO BE IMPLEMENTED SO THAT THE INVESTOR FEELS AS THOUGH THEY HAVE A LIFE LINE ---
THIS IS HUGE AND IS ALSO A HUGE NEED THAT SHOULD BE DONE RIGHT AWAY OBVIOUSLY --
Millionday: The bankers and economies, carried in (15 May 2013), the Ministry of Finance and the Central Bank of Iraq responsible for the decline and the reality of local private banks, while the latter accused of encouraging Arab and Iranian banks on the Iraqi account.
The International Monetary Fund said in a report issued in (the 21st of March 2013), that an improvement in the financial sector, but stressed that it still needs to be greater by the central bank in the revision of monetary policy and strengthen banking supervision tools efforts, and to accelerate the restructuring of the banking system .
Millionday: NOTE -- THEY HAVE WORKED ON THIS FOR TWO YEARS –
THEY SHOULD AND BY WHAT WE HAVE SEEN BE IN A POSITION TO MOVE FORWARD DUE TO THE REFORMS AND THE CHANGES THAT HAVE BEEN MADE ---
THE IMF AND THE SPRING MEETING REPORTS HAVE TOLD US ALOT -- SMILE
Millionday: NOTE -- THE BANKING SECTOR>>>And the Iraqi banking system consists of 54 banks, including seven state-owned newly established Islamic one, and there are 23 private commercial banks, including Islamic nine.
There are also 15 branches of foreign banks, and there are many institutions that do some banking, of which 34 money transfer company, and nearly 200 belonging to the banks foreign exchange company or deal with the banks, ‘
with the Loan Guarantee Company and to finance small and medium enterprises, with two companies for services of electronic banking and card Smart, in addition to nearly 800 branches and subsidiary banks spread over Iraqi provinces.
Millionday: SO OBVIOUSLY VERY DIFFERENT REPORTS ARE OUT THERE -- THIS IS NEWS IN ITSELF AND MANY ARE VERY EXCITED JUST BECAUSE OF THAT POINT -- SMILE
Papatom: it just became crystal to me..... we are seeing the same report over and over...but... they are from different sectors...."the monetary reforms have to be implemented and as soon as possible...."
and the imf has the answer...'as soon as....." do you see that MD? every day....another report saying get the monetary reforms going....
and until you realize it's the different sectors, it's almost depressing.... then when that hits.... WA.LA ..... it makes HUGE impact on the situation....right?
Papatom: people from every sector are saying essentially the same thing
Millionday: I AGREE PAPA -- THEY NEED ALL THE REFORMS ACTIVATED AND ARE ACTUALLY MAKING NEWS OUT OF IT EVERYDAY -- WE CAN GET THE POINT -- THE REFORMS NEED TO BE ACTIVATED ---
AND ALL AT ONCE -- WHAT DO THEY SAY THEY ARE DOING EVERYDAY ? WORKING ON GETTING THE REFORMS ACTIVATED EVERY DAY --
Millionday: AND ON TOP OF IT -- THEY ARE TRAVELING AROUND STATING THAT THEY NEED REFORMS ACTIVATED AND THOSE THAT THEY MEET WITH ARE SAYING WHAT? -- THEY NEED THE REFORMS ACTIVATED
Millionday: LOL TOO FUNNY
Papatom: and it's always someone else talking.... a new guy...like he's the first
Millionday: GOOD POINT PAPA
Papatom: the advisor to x and the economic professional from the x commission..... they all say the same....
Millionday: THE MEDIA ARE A LITTLE LAZY THERE -- I THINK THIS IS ALL FROM ONE GROUP AND THEY JUST PUT ONE OUT EVERY WEEK -- THEY NEED TO ACTIVATE THE REFORMS LOL
Papatom: I think that is making some feel like it's a stall ....... not me, not now.....it's just being realized by all.
Millionday: BUT IN THE MIDDLE OF IT -- THEY ARE LETTING SOME VERY GOOD CLUES OUT -- THEY FORGET THAT THE IRAQIS ARE NOT THE ONLY ONES READING THE REPORTS ---
WE HAVE A GREAT TALENT OF FINDING CLUES WITHIN THE REPORTS THEY THINK ARE BLAND AND WITHOUT MUCH INPUT
TimandJulie: THEY NEED THE REFORMS ACTIVATED-------and who do you really think will be the one to activate them?
Millionday: THE APPROVALS THEY HAVE GOTTEN ARE THE ONES THEY HAD TO HAVE IMO -- THE IMF –
THE G-7 MEETING -- THE WORLD BANK -- IRAQI OFFICIALS --- TTHE LIST GOES ON AND ON -- THE UN –
SO MANY ARE HAPPY WITH WHERE THEY ARE AND HAVE EVEN ISSUED MORE MILITARY HELP WITHOUT FUNDS RETURNED FROM PREVIOUS HELP ---
Millionday: IMAGINE THE BILL FOR THE HELP ALREADY GIVEN AND THEN LOOK AT THE DEFICIT --- THE RATE OF INFLATION AS WELL -- IRAQ IS NOT IN A BAD POSITION AT ALL IMO –
NOW THEY HAVE MANY MORE EXPENSES COMING THEIR WAY FOR THE CLEAN UP OF DAASH AND ISIS -- WITHOUT THE EXPENSE BEING PAID FROM THE PREVIOUS HELP --
Papatom: see... to tims question.... that's the point! they ARE being activated.... keep in mind the importance of all at once.... and it starts to make sense.... ‘
so the new bills are out, the cards and pay system are out, the disbursements are out... the laws have been passed and are out, it goes on and on and on and we don't see anyone doing it....
and the wB is loaning, and the IMF is loaning and the credit rating is coming....and it's going to come to a head and we wont SEE someone do it, we will EXPERIENCE it hAS happened.....
.my opinion but that's what is getting clear in my head... that is why Zain announced their offering today...with an undisclosed date!!! on the isx.... i AGREE with you MD 1000%
Papatom: we aren't seeing the forest for the trees
Millionday: EXACTLY MY POINT -- ALL AT ONCE AND WITHOUT A BIG BELL RUNG TO LET US KNOW -- IT WILL JUST BE AS WITH ANY RATE CHANGE OR ECONOMIC CHANGE -- IT IS JUST DONE AND THERE --
1glen: Millionday - When they talk about “Activating the Reforms” does that include a Global Currency which will enable them to be part of the World Market? Thank you very much for taking your time and sharing your knowledge to help us navigate this investment.
Millionday: IT WILL INCLUDE A MARKET ECONOMY AND THE INTERNATIONAL EQUATION THAT HAS BEEN ORDERED TO BE DONE -----
THE INTERNATIONAL EQUATION WILL INCLUDE THE CURRENCY AS IT DOES WITH ALL COUNTRIES -- IT WILL BE THE VALUE IN COMPARISON TO THE OTHER COUNTRIES IN THE GLOBAL MARKET WITH ALL INCLUSIVE FIGURES
1glen: Thank you for everything !
Millionday: YW ALL THE TIME -- I AM PART OF A HUGE TEAM AND THIS SITE ROCKS –
THERE IS SO MUCH GOING ON AND THE FORUMS-- OBSERVER- BLOG –
THE NEWS RESERCHING AND THE NEWSTIME AND ROUNDTABLE ARE ALL FULL OF THE IRAQI INFO NEEDED TO MAKE SENSE OF ALL OF THIS –
WE ARE ALL BLESSED TO HAVE THIS SITE AND ALL THAT IT TAKES TO MAKE IT THE BEST -- WHOOOPOW
Millionday: I AM PROUD TO BE HERE AND EXCITED TO BE DONE AND MEET ALL OF YOU --
Millionday: THIS IS OBVIOUSLY SHOWING SO MUCH DONE AND REMEMBER ALL THAT IS NOT ANNOUNCED UNTIL AFTER THE FACT –
THEY DID NOT CANCEL HOLIDAYS TO JUST SIT AND DO NOTHING -- WE EXPECT SOMETYPE OF ANNOUNCEMENTS ON WHAT HAS BEEN PASSED WITH THE IMPORTANT LAWS -- SO DONT MISS NEWS
Millionday: SEE YOU ALL AT 730 EST TONIGHT -- KNOW THAT THE LACK OF SUBSTANCE IN NEWS ALWAYS SEEMS TO MEAN WE ARE GOING TO HAVE HUGE NEWS AROUND THE CORNER SO DONT MISS NEWS