Re: Millionday Wednesday Night News 4/16/14 Part 1
[millionday] Iraq’s economy must diversify to reduce its decades-long reliance on oil as the main contributor to its GDP, said the country’s former planning minister, despite a recent uptick in oil production leading to expectations that OPEC’s second-largest oil producer will be among the region’s best-performing economies in 2014.
[millionday] Speaking to Asharq Al-Awsat this week, Mahdi Al-Hafez, who also heads the Coalition of Iraq, said: “The desired tasks for economic reform require the reduction of the domination of oil revenue on the economic situation and the adoption of a policy of diversifying the economy and developing other productive sectors such as industry, agriculture, communications and tourism, to make them genuine productive sectors which can contribute effectively to GDP.”
[millionday] note -- this is a huge report -- we will look at some of it
[millionday] this is of course leading to what calculates the value of the dinar and levels the economy and GDP
[millionday] Despite its optimism, the IMF also said the country needed to scale down its bloated public sector and restructure a number of state-owned banks in order to give private companies more of an opportunity to compete for government business.
Hafez also sees the private sector as playing a central role in the economy’s future. “Among the important tasks are to develop the private sector and the middle class in Iraq on the grounds that a market economy relies mainly on making the private sector a leader in the economy,” he said.
[millionday] note -- the way to develop the market economy is only going to be possible by developing the private sector (healthy economy)
[millionday] and they have to have developed classes -- high-working-poor
[millionday] right now the working class is not large enough due to the lack of jobs obviously
[millionday] He added: “Some recent statistics indicate that the share of the private sector is around 33 percent of GDP and that the majority of workers in this sector are contractors for government institutes and totally dependent on their resources, and therefore, all opportunities and incentives must be made available to develop the private sector and its institutions.”
[millionday] BIG SMILE >>>Iraq’s central bank is currently pressing ahead with the process to reform the country’s financial sector, with a new central bank, commercial bank and payment system all in the pipeline.
[kenster] would it not be sensible to rv to grow the private sector
[millionday] yes -- very much so -- to activate the monetary policy and head to a market economy would resolve it
[ROBINREDHED] jtank go
[millionday] or at least set it on the road to grow
[jtank] will the future sales of gold offset the gdp oil sales
[millionday] the future sales of gold will be done in the market and will raise the revenues of the banks or even the markets that sell -- jewelry etc so yes it will
[slh5282] Do they have the people with the experience and Knowledge to do the work in a diversified economy?
[poppy3] millionday THANKS YOU
[millionday] yes they have been fortunate enough to have multiple training sessions and also have called many of the educated back from mulitple countries -- they have many experts that have come to help so they should be on the road to gain experience now
[millionday] ok brb with more
[millionday] this is the whopper
[millionday] Constitute the financial markets in the assessment of President Mother economy countries and through the extent of the performance of listed companies has , where disclose stock movement for the success or failure of this company that through supply and demand and reverse capacity in economic affairs .
[millionday] Expert in economic affairs Laith ruled said that the capital market , which represents real women to the level of growth of the economy of the country , pointing out that the free system that governs the world's most prominent role of the stock market in determining the spots most successful in front of an audience of traders through the analysis of the movement of stocks consists have clear visions sectors that will invest their money in it.
[millionday] note -- they are stating that it is very clear that the isx is going to bring them to economic success by what has happened so far within it
[millionday] He ruled in an interview ( morning) that the Iraqi market for securities managed to achieve growth and clear gradually , especially after 2003 , where the managed exchange of openness to the outside world and has become a continuing regional and international reflected positively on the work of the market, through the understandings that have been with sophisticated exchanges and benefit from their successful experiences .
[millionday] note -- discussion of openness to the globe for their market
[millionday] He pointed out that the adoption of advanced systems in the local bourse and the latest system Alakps that has been outfitted by the company Nomex world , represents a positive turning point in the work market and raise the rates of the trading of foreign investment exclusively , which amounted to approximately (5969503) million shares, and this indicates the extent of the impact of foreign investment in Iraqi Stock Exchange .
[millionday] note -- huge impact of foreign investment is what would come from opening the isx to the globe
[millionday] *And how to achieve these gains pointed ruled that disclosure and transparency adopted by the stock market has done the work and doubled the preparation of local and foreign traders , also to connect with the developments in the global financial markets a major role in the growth of the domestic money market .
[millionday] note -- they are saying that they are prepared and the growth they expect is well worth the work they have done
[millionday] note -- they also are saying that the gain of connecting to the currency market is the goal and they will benefit
[millionday] Ruled alerted to the importance of work to raise the culture of stock to the public and to know the importance of trade and achieve the feasibility of the economy, the family and the country in general . Pointing out that the organization of public seminars targeting all segments of society , especially students in schools and universities of different specializations to raise awareness of the importance of the stock market from which you can stand on the sectors and companies that
[millionday] achieve the highest degree of economic development , noting that the shareholding companies that offer shares in the stock market fall the task of contributing actors in the care of such seminars contribute to the creation of a culture that the evolution of the stock market in the country .
[millionday] note --- this part is talking about the education that it takes for the stock market and what it will do for the expansion throughout the country and all citizens
[millionday] meaning that people can make money investing in the stock market
[millionday] He ruled the time has come to turn all public companies to contribute to the aim of development and entry into the competition and achieve success , which leads to raise the price of its shares and the high demand for them , pointing out that many of these companies are able to achieve big profits after its transformation into a joint stock and during brief periods , and especially that the country is a big market can absorb many products
[millionday] note -- huge huge and wonderful point
[millionday] He said the industrial sector , for example, have a distinct companies in its jurisdiction is different , but you need to financial funding , stressing that converted into contribution will help them to develop their performance and productivity , pointing out that the movement of shares in the Iraqi market for securities did after that were known corporations for her performance in clear to investors .
[millionday] note -- the preperation of the market has been done by many steps but the merging to corporations for international investors makes the opportunity seem more valuable -- the investor has a larger opportunity to make money --- profits whoop whoop
[DinarGroupie] This all sounds so good, like they are ready to do the reality rate at any time, but we keep waiting and waiting for them to do it! I wonder how much longer we will be waiting?
[millionday] end of report robin
[millionday] wow are you in the right club
[millionday] me too !!
[poppy3] slh5282 YES THEY HAVE MANY BUSINESS TRAINED PEOPLE THAT CAME HERE TO GET EDUCATION AND KILL A FEW INFIDELS THEN RUN BACK AND RUN A FAMILY BACKED BUSINESS. THE WEALTH OF THE WICKED IS LAID UP FOR THE JUST.. THEY ARE ALL AS TRUSTWORTHY AS MALIKI .
DOES THAT MAKE YOU FEEL BETTER ABOUT LIFE.THE MOST LIEING BUNCH OF PEOPLE ON EARTH---IF YOU HAVE EVER TRIED TO DO OR DONE BUSINESS WITH THEM YOU KNOW WHAT I MEAN. LOL,LOL POPPY3
[ROBINREDHED] kenster kenster o
[millionday] how it sounds is that they have done a check and balance of the isx and have found it to be ready for the market and also ready for currency exchange market as well -- so we will for sure see a reality rate before it hits the currency market
[anasdesign] Are they still in Washington or did they go back to Iraq do you know
[anasdesign] Are they still in Washington or did they go back to Iraq do you know
[millionday] i have to say that today i saw a report i brought in at roundtable that they are discussing pay offs of debts in washington and it was dated today so they are there by that report
[millionday] but i know that the group that was there left with the budget info and so this is finance there now or left behind of the quartet
[coolspot] ROBINREDHED my apologies!!
[BGG] May I add??
[millionday] thank you hun
[millionday] sure BGG
[BGG] I saw the same reports you did... that is how they were worded...
[BGG] I follow up because I explained my hesitation about anything happening (major) without "all hands on deck" back in Iraq.
[BGG] on the call last night (I think)...
[millionday] it was surprising to me -- they had also returned so some stayed and some left by what i gathered -- the economic committee came back
[tbob] so what does this mean ??
[anasdesign] That's why I asked
[BGG] however, I am not convinced this isn't "Arabic rehash" of news a couple of days ago...
[millionday] i read that finance ministers remained
[BGG] it is not impossible they are back already...
[millionday] could be -- we sure have seen media make a mess of things before
[BGG] Yes, the interim FM (to Isawi).
[millionday] so you think they have all remained ?
[BGG] millionday - my point exactly - hard to get an exact read on the scenario - however, good either way...
[BGG] millionday - personally - I don't think so.
[millionday] right -- i think that the group that went to erbil returned and the rest remained
[BGG] I have the feeling we are reading "days old" news being told to their people. JMHO
[millionday] by what i have read and etc
[millionday] interesting -- time will for sure tell us -- would be nice if they were finishing it all and then returning
[BGG] However, either case is entirely possible.
[wmawhite] millionday BGG ........exactly dated info.......never will they provide current info on such important issues.
[BGG] Clearly appears to be some "goings on" -
[millionday] i like that they are paying off the last 8 debt countries
[BGG] OK - Thanks
[millionday] yw all the time my friend
[millionday] ok ?? robin
[wmawhite] millionday ......This is clearly telling us that EO 13303 is by-by.
[ROBINREDHED] jus copying
[ROBINREDHED] dont expect chat from me
[millionday] k we have two ??
[ROBINREDHED] quicktolegit96 go
[quicktolegit96] What is eo 13303? And did iraq get an extension approval for dfi? Do they even have dfi in their possession?
[ROBINREDHED] slh5282 u next
[millionday] the 13303 is the executive order that was given that allowed us to invest in the dinar
[millionday] remember ?
[ROBINREDHED] slh5282 go
[slh5282] Would you guys explain what this conversation means to all of us?
[ROBINREDHED] hahahahaha slh5282 good question
[slh5282] with BBG and yourself
[jtank] Two scenarios
[babesbro] http://en.wikipedia.org/ ··· er_13303
[millionday] no there is no extension on the dfi protection and it is in other accounts they have moved it
[millionday] yes let me explain
[puttright] wmawhite what do you mean by-by?
[millionday] we were discussing the meeting that took place that was total iraq economic and was about the budget and the place that iraq is in -- we were told by reports that they left meaning the group (committee) called the quartet for finishing the budget issues that they left from the US and now
[wmawhite] puttright .........EO13303 expires May 22, 2014
[millionday] they had a report out that said the finance is there discussing how to set up agreements to repay debts etc and were still in the US
[wmawhite] puttright ........it will not be extended by the US.
[millionday] i thought i answered that
[ggrr] http://www.gpo.gov/fdsys ··· 3412.pdf
[babesbro] eo13303 is about the dfi funds protection.... http://en.wikipedia.org/ ··· er_13303
[ROBINREDHED] quicktolegit96 go
[millionday] yw all the time
[quicktolegit96] nm, im good, it was answered...
[ROBINREDHED] faith1 go
[millionday] the link by GRRR is the entire executive order 13303 for you to read later
[faith1] does 13303 also allow us to exchange,,, and /OR is 13303 by-by good or bad ?
[ggrr] also CPA 39 http://www.iraqcoalition ··· ent_.pdf
Comments may be made at the end of Part 2 Thank You