Bluwolf: 8-21-16 UPDATE
The geopolitical spectrum in the United States is the cause of all worldwide economical delays. Both your current government, and the distasteful choices for president, have delayed things even more.
Now all the countries of the 204 to revalue and receive the GCR are now demanding from this makeshift nation to do good by its people and the people of the world.
They are now on a time frame. Seems that he that thought he was the most powerful has now met up with the real world... they are just one out of the 204 - plain and simple.
The corporaton is now a thing of the past, but there is a problem with the individuals who are withholding the REPUBLIC TAKEOVER of America. Everybody knows about it, it is just them in the government who think that we don't know anything about it.
My question to you is - what will you do when this information does hit the prime light?
As for our GCR and blessing - it is just minutes away, no matter what they think or say.
The time to speak out has arrived, and it is my time to do so. Many will follow, and those that are the ones that need to come forward, not only for the nation but for the humanity and the entire world.
See you at the bank. Na'maste Bluwolf
Firefly Article quote: "He predicted the financial advisor to the Prime Minister that "the budget deficit in 2017 up to about $ 18 billion," stressing that "the budget was drawn according to what has been agreed upon with the International Monetary Fund."
Now this is Saleh talking! Abadi's Financial advisor.
This is worth repeating: "the budget was drawn according to what has been agreed upon with the International Monetary Fund."
Remember, the IMF's role is preparations for countries through Article IV meetings. ...we are watching the play in the front row seats!
Q: [...I would think to pay foreign contractors their would need to be some sort of rate established.]
rcookie : THERE DOES...AND MORE IMPORTANTLY WHY THE IMF TASKED THEM TO OVERHAUL THEIR CREDIT REGISTRY AND RISK ASSESSMENT PROCESSES...NEED TO BE READY FOR THE INVESTMENT WHALES.
Harambe: Bloomberg: Iran Puts Trust in Market to Deliver Currency Boost to Recovery
Iran’s central bank is signaling that it will loosen its grip on the rial in an effort to end a dual-exchange rate system seen as an obstacle deterring foreign investment needed to rebuild the economy.
Policy makers, in a decision reported earlier this month, allowed commercial lenders to buy foreign currencies using rial rates set by the market rather than those dictated by the central bank. Akbar Komijani, a deputy governor, said the regulator will be “responsible for this market and will guide it.”
Authorities are “laying the foundation” for plans to unify the existing two rial-to-dollar exchange rates, said Kamal Seyedali, a former deputy governor. The move will lead to more cash entering the banking system rather than circulating through exchange houses, he said.
Luring overseas companies is central to Iran’s push to revive an economy that was cut off from global commerce by international sanctions imposed over its nuclear program. Foreign direct investment rose to $4.5 billion in the first quarter of this year, according to fDi Intelligence, a division of the Financial Times Ltd. That’s still way below the government’s hopes of drawing $30 billion to $50 billion in foreign financial resources a year.
As ever tighter sanctions pushed Iran deeper into financial isolation and weakened the rial, the gap between the two existing exchange rates widened. Iranian lenders were compelled to stick to the official rate set each morning by the central bank. Registered exchange houses, though, could buy and sell using the rate in the market, where the rial traded at 35,350 per dollar on Thursday, compared to 31,071 cited on the central bank’s website.
Key sanctions have now been lifted, following the successful diplomatic offensive unleashed by President Hassan Rouhani after he took office in 2013. The government has also worked to narrow the gap between the two rial rates, and has lowered inflation from a pre-Rouhani peak approaching 40 percent to single digits in July.
Yet substantial barriers to investing in Iran remain, resulting in a growing mood among Iranians that the 2015 nuclear deal isn’t improving their lives. Obstacles include still-in-place U.S. curbs linked to Iran’s missile development and its support for groups classified as terrorist organizations in Washington and some European capitals, and the economic power of non-transparent state agencies. Another is the dual exchange rate.
Rouhani last month underscored the need for Iran to move toward unification. Days later, Central Bank Governor Valiollah Seif, who had announced plans to adopt a single rate within months following the January implementation of the nuclear deal, said the policy would be in place before the end of the Iranian year in March 2017.
Simplification could help “attract foreign investors,” said Seyedali, who was at the central bank until January 2012 and looked after foreign-exchange affairs and is now chairman of the state-owned Export Guarantee Fund of Iran. “Bringing foreign currency inside Iran, changing it to rials using the official rate and then returning their revenue at the market rate can lead to diminished profit,” he said.
For local businesses, using exchange houses “is not the most reliable medium and leads to higher costs,” said Mousa Ghaninejad, an economist and adviser to Iran’s chamber of commerce.
A single rate will also “cut down on corruption by increasing transparency,” said Amir Naghshineh-Pour, managing director of Vistar Business Monitor, a Dubai-based consulting firm that focuses on Iran. There will be “less confusion and more confidence for foreign companies planning to enter the Iranian market.”
ToyVP: The main road leading from the Allawi area to the intersection of the Baghdad International Fair, west of Baghdad, which passes close to the famous theme park in the capital Zora Imaging (Mahmoud Raouf)
Baghdad discussed the budget in 2017 with the World Bank over the next week
Author: AB, AT Editor: AB, AT 21/8/2016 16:35 Number of Views: 422
Long-Presse / Baghdad
Revealed Economists, on Sunday, for a meeting of Baghdad with the International Monetary Fund, in the 28th of this month to study the general budget for Iraq in 2017 and the extent of its commitment to the recommendations of the World Bank, as an enemy to those recommendations "are necessary and in the interest of the country," deputy criticized the mass of Warka recommendations World Bank as "may serve the interests of foreign capital."
He said economic expert on behalf of Jamil Antoine in an interview with (long-Presse), "A delegation from the Ministry of Finance and some specialists will hold a meeting with the International Monetary Fund, in the 28th of the current month," noting that "the meeting will include a study of the general budget for Iraq for 2017".
He said Antoine, "The meeting will discuss Iraq's commitment to the recommendations of the World Bank which stipulated to lend to Iraq, which include activation of taxes and curb wastage and activating non-oil resources," adding that "the talks will focus on the price of oil, which will be the budget is calculated according to him, should not be higher of rolling price in the market. "
For his part, economist Majid picture in an interview with (long-Presse), "The World Bank's recommendations are necessary and in the interest of the country as calls to reduce operating expenses and not investment."
The promise of the picture, that "resort to reduce special grades and protections starved general budget spending significant funds."
In turn, he said a member of the House of Representatives on the mass of the Warka Joseph Salioh in an interview (range Press), "The World Bank recommendations and interfering in the work of the government and determine the budget, is a procedure that has been in the interest of foreign capital," and accused the World Bank of "not taking into account the interests of the country." .
It was the financial advisor to the Prime Minister Haider al-Abadi, revealed in the (16 August 2106), from the end of the Ministry of Finance to prepare the 2017 budget, and stressed submitted to the Cabinet for discussion during the month of September, while noting that its value would be about $ 82 billion at a price calculated $ 40 for a barrel of oil. Link
Aggiedad77: Well this must be a first for Iraq.....actually allowing an outside source like the World Bank to be a part of their discussion regarding a budget....the 2017 budget.....
Some are quick to point out in their opinions that the WB recommendations are interfering with the work of the government.....but I believe the WB has a vested interest in Iraq.....they are providing loans to them and will be expecting to see a payment made for any loans.....to make a payment means Iraq has to be solvent and capable of bringing in revenues so these payments can be made......
All banks are in the business of what.....we've talked about this before....they want to make money.....they do so by loaning money and watching their customers squirm under the details of the interest on said loans.....they have to be careful tho and not make bad loans because that would create headaches for the bank they don't want to deal with....
And last thing of note here.....the budget value....there is that figure again......"$82 Billion".....hmmmm. Aloha Randy
Don961: Government confirms its quest Send 2017 budget to parliament before the start of the new fiscal year
The news agency Buratha 22 2016-08-21
The Iraqi government confirmed Sunday, seeking send the federal budget for the next year in 2017 to the House of Representatives before the start of the new fiscal year, noting that it comes to ensuring the functioning of the state institutions and the lack of any delay or disruption in government performance.
Information Office of the Prime Minister Haider al-Abadi, said in a statement, said that "the commitment of the government approval of the general budget of the Federal Republic of Iraq for the project in accordance with the limits specified time in the financial management of the state of law, the cabinet began to discuss the terms of the paragraphs of the budget submitted by the Ministry of Finance a draft order of the Council on the speed project approval and forwarded to the House of Representatives in early so that the parliament vote on it before the start of the new fiscal year. "
He added Abadi Office that this comes "in order to ensure the regularity of the functioning of the state institutions and the lack of any delay or disruption in the government's performance in fulfilling the government needed to sustain the work smoothly in various institutions and financial requirements, as a result of the delay, which could happen in the event of delayed legislation Budget Law" .
The Abadi's office said that the Cabinet discussed during its meeting held in (August 16, 2016), in preparation for the 2017 budget completed and presented to the parliament in "as soon as possible."