[millionday] i have no idea on the date but they seem to be waiting on the budget and i am watching what they do on sunday and some other things but there are many things out there showing very encouraging info that they are working toward the raise in the value etc --- CBI
[cookie] With Iraq wanting to get many more contracts from US, etc. would this keep them from wanting to RV until after they get them, or cause them to want to get it done faster???
[millionday] no that would not make them wait on the raise in the value---it would bring them faster and more of them meaning investors if they had a reality rate already done to many more positive things -- money , happy citizens, and reforms
[cookie] millionday Sounds good. TY
[Pablo] That would make sense. Of course, this is iraq we're talking about.
[millionday] ok here is something i want to look at
millionday] Said committee member Rep. Nora told Albjara / JD /: "The use of the federal government looming sovereign balance located in the Central Bank of hard currency to meet the budget deficit is expected to be significant during this year."
She added: "The government will be held accountable legally at their disposal Balahtiat cash in hard currency because it is against the law, the fact that the balance of the reserve is a sovereign state that can be used in emergency circumstances and not in the budget.
[millionday] this is again stating that CBI is independent -- this is about reserves
[millionday] The Head of the parliamentary Finance Committee Haider Abadi, has revealed a few days ago, that the financial reserves of Iraq amounted to a close, attributing the cause to the adoption of the federal government disbursement of funds in accordance with the defaults that the Kurdistan region of Iraq exported oil export and money belonging to the Federal Fund.
[millionday] note -- they are saying that it is illegal for payments etc to be made with the reserves -- it is to back the value of the dinar (currency 101) its hard backed
[millionday] Ebadi said in a statement to some media "Iraq two years ago spent funds based on hypothetical that the Kurdistan region exported oil and gives the share of 17% of the financial budget, revealing that" the government's Reserve came to an end now,
because the government acted him two years ago, and now the Ministry of Finance faces difficulty in providing the salaries of some of the ministries of the Iraqi state.
[millionday] Before more than a month, the International Monetary Fund said that the Iraqi government if it goes forward in the implementation of the spending plans for the year 2014, they will be recorded inflation record and drain the country's reserves of hard currency.
BGG] "News Time" trample ***** I just got a text - "They may pass oil and gas law within a few days"...
[BGG] MASSIVE NEWS
[millionday] roundtable today they had a report from a UN representative stating that it would help resolve the issues with the budget and the kurds/oil thats all i have ---
[millionday] thanks for that news bgg -- great to see ya
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[millionday] we all are watching with all eyes on what happens in the next few days -- it is very very important at this point
[jtank] The above about spending for the month will drain funds-explain-plz
[risk] BGG ....your thoughts regarding that source?
[BGG] the big thing - the closer it gets to election time - the more everyone wants to be seen as "getting stuff done"...
[millionday] they are stating that it is against the law for iraq to take the money from CBI reserves -- they have to pass the budget and use their own money
[BGG] risk - EXCELLENT
derwood200335] ? in all prior years, was there money left over from budgets
[millionday] derwood200335 yes let me address this
[millionday] the final accounts (great question) -- the funds are transferred back to CBI at the end of the year normally and then recalculated as a revenue each year --- this past year they asked that they remain in the accounts for the provinces that had funds left over so the save of time etc -- and just the data entry be done ----
nothing was said if that was the case but that is how it is calculated and so they can use it when the following budget is done for th next year -- in this case 2014 --- as a revenue
[millionday] they gain by not using all of their money -- it is a roll over if you will - but normally transferred --- and used out of the next year so it isnt there for them to just start using
[millionday] they need a --- BUDGET SO THEY SAID – SMILE ooops didnt mean to yell
they are stating that it is against the law for iraq to take the money from CBI reserves -- they have to pass the budget and use their own money ...isn't this what they have been doing ?
passing the budget and using it ?
[millionday] yes but the point was to them that it is not an option to smooth over with kurds or to pay retirees etc --- this year budget is not passed or distributed
[millionday] and to stall -- is not an option to use anything but the budgeted funds -- yw all the time
[mrref1216] They always have trouble every year in passing the budget and I've been in it for the past 10 years
[Fishheads] mrref1216 welcome to government 101
[jtank] This one counts for a lot
[millionday] ok so that is all we have right now in ink -- very strange but the agenda is great and they still think they will get the budget done in days so we shall see as i say
[mrref1216] Tell me about it lol
[millionday] Fishheads lol
[watchman42] mrref1216, we need to pray for your sanity.
[lovely] this is getting exciting
[millionday] please lets all bow for all our sanity lol oh hun -- yes this is getting very exciting
[millionday] next week is going to be loaded and also the comments from tomorrow -- sunday is huge love the news coming so dont miss a minute
[pinklady] Can't wait. This is so much fun....finally things are happening! Blessings & Prayers
millionday] i agree pink -- so nice to see things backed in a corner we have a province over there bankrupt among other things but a whole province ? wow
[millionday] have a great night -- and be here tomorrow for news and dont miss a minute --- everything depends on the next while
[millionday] yw all the time --- i am a small part of a great team at dinarupdates.com -- love it !! what a team !!