Post From Dinar Updates 1-25-16
Excerpts & Highlights
Rcookie & Member Morning Chat 1-25-16 Part 2 of 2
rcookie says():EVERYONE SEE ABADIS INTERVIEW....
efriscone says():Rcookie: So you thinking we should see something possibly by the end of Feb?
rcookie says():YOU COULD TAKE EVERY US PRESIDENTIAL NOMINEE FROM BOTH PARTIES...ROLL THEM UP IN A BALL...AND THEY WOULDN'T HAVE 1/1000 THE POISE...PRESENCE...STATESMANSHIP...ARTICULATION AND ACUMEN AS ABADI...
jd says()We just need a date rcookie.
larrykn says():I agree not to many people could do what abadi as done in this past year, to bring a country back from being bankrupt
rcookie says to jd():YOU ARE NEVER...EVER...EVER GOING TO BE GIVEN A DATE...FROM ANYONE....IF YOU JUST EMBRACE THAT CONCEPT THE ANGST WILL LIFT..
rcookie says():HE DID ANOTHER INTERVIEW WITH CHRISTINE AMANPOUR...THIS TIME WITH LEBANONS SALAM...TALKING ABOUT ISIS SITUATION...AND DISPOSITION OF IRAQ....DONT NEED GURU SPECULATION...HERE HE IS.. http://www.cnn.com/videos/world/2016...ists/amanpour/
cowboywads says():RCOOKIE nice to wake up to this caliber of news <just drinking my coffee , takin it all in> thank you very much lol
efriscone says():Rcookie: So you thinking we should see something possibly by the end of Feb?
wisconsindinar says():Yes I agree Cowboy...thanks rcookie good stuff!
Cricket22 says to magnetlady():rcookie has been on a roll.
magnetlady says():The storm that hit down here they said broke a 28 year record. They just don't have that kind of weather here.
Cricket22 says to magnetlady():Wow! That was what we experienced 2 years ago. Do you remember?
magnetlady says():I saw some of that when I got in the room, I'll have to go to copied chat and read.
Cricket22 says to magnetlady():My shoving days. :D
homie says():thanks for the link rcookie, real news
Cricket22 says to magnetlady():shoveling*
Cricket22 says to rcookie(Yes, Thank you...Thank you ..Thank you for all your knowledge you share. It means a lot. (F)
rcookie says():THERE ARE 4 OTHER ITEMS...1 OF THEM IS ALREADY DONE....2 OF THEM HAVE APRIL REVIEW DEADLINE...
rcookie says():WANT THEM..?
Cricket22 says to rcookie():Of course
rcookie says():Design and implement, with the IMF technical assistance, a commitment control system for budget execution that is based on a comprehensive financial plan for budget execution.
Woodywoodpecker says():do what????? lol
rcookie says():THIS IS DONE..AND IMF AND UN ARE THERE TO OVERSEE....ALONG WITH SEAMLESS TRANSITION OF POWERS TO PROVINCES...AS THEY RECEIVE THEIT BUDGET ALLOCATIONS AND DISBURSEMENTS....
rcookie says():HERE ARE THE OTHES...
rcookie says():Design and implement an Integrated Financial Management Information System (IFMIS) with the assistance of the World Bank; as a first step, adopt, by end-April 2016, a road map detailing its core functional requirements,
such as: the chart of accounts, multi-year expenditure tracking; carry-over of resources from one year to the next; and management of advances and cash management arrangements.
sophie1 says to rcookie():you are soooo amazing!! thank you so much!! great way to start the day!!!!
rcookie says():THEY HAVE BEEN TASKED WITH THIS SINCE THE 2011 IMF LOI/MEFP/TECHNICAL MOU....
rcookie says to sophie1():AND THATS AN APRIL CHECKPOINT..
rcookie says to sophie1():HERES ANOTHER...
rcookie says to sophie1():YVW!
rcookie says():Implement Public Investment Management (PIM) reform with the assistance of the World Bank. On October 18, 2015, the Prime Minister issued a decree endorsing the Public Investment Management Decision Process Framework in line with World Bank recommendations covering investment selection, implementation, and ex-post evaluation.
By end-April 2016, the federal Ministry of Planning will set up a central PIM unit that will screen projects based on feasibility studies and develop and manage the Integrated Bank of Projects (IBP) to be operated as a sub-system of the existing Iraq Development Management System (IDMS).
larrykn says):Iran PM is in Italy now, wonder what he wants mmmm
rcookie says():SOME OF THIS PROGRAM IS ACTUALLY INTEGRATED TO 2016 BUDGET...
scarby says():Excuse my ignorance, but what is IMF LOI/MEFP/TECHNICAL MOU....
rcookie says():AND HERE IS ONE THAT WILL PROBABLY KNOWN AS "MALIKI REPORT"....LOL
rcookie says():Implement the existing asset declaration procedures for high-level officials in order to improve governance and enhance anti-corruption efforts; the Public Integrity Commission will continue to publish the names of those who fail to submit their annual declaration.
rcookie says():LETTER OF INTENT....MEMORANDUM ECONOMIC & FINANCIAL POLICIES...TECHNICAL MEMORANDUM OF UNDERSTANDING...
scarby says to rcookie():Thanks! :-*
rcookie says():MALIKI IS THE CENTERFOLD FOR THAT ONE...LOL
rcookie says to scarby():YVW!
CanuckLady says to rcookie():Good morning rcookie, hard at it again this morning, thanks so much
CanuckLady says to rcookie():Maliki in a centerfold ....... yuck
wisconsindinar says():The question is IMO, do they follow the structured path Rcookie just layed out or do they jump and raise the value of the Dinar to fill the budget gap as some of last weeks articles suggested?
rcookie says():THE BANKING SUPERVISION ITEMS BEGIN WITH THE 2 BIG STATE BANKS OVERVIEW...WHICH WE HAVE BEEN READING ABOUT DAILY...AND SHOWS THE 1ST STEP TO RESTRUCTURE THESE BANKS BY END OF FEBRUARY.....
rcookie says to CanuckLady():GM!! YVW!
CanuckLady says to rcookie():Wow lots of new faces in here
rcookie says():THIS IS LIKE FINDING DENVER'S PLAYBOOK....
jimplants says():thank you for the insite at some point they will need a real number to do these calculations if in face they do not already have one
CanuckLady says to rcookie():End of Feb, we are moving in on that fast
rcookie says():banks (SOB) of which one is an Islamic bank, 32 Iraqi private banks, of which 6 Islamic banks, and 17 foreign branches, of which 5 are Islamic banks. The SOBs dominate the financial sector and account for the bulk of assets and credits.
Three of the SOBs, Rafidain Bank, Rasheed Bank and Trade Bank of Iraq (TBI), cluster around 89 percent of the banking system’s assets. The financial positions of Rasheed Bank and Rafidain Bank are fragile following years of quasi-fiscal operations.
As a first step to restructure these banks, the Ministry of Finance will, by end- February 2016, appoint international auditors to audit the latest financial statements of Rasheed Bank and Rafidain Bank according to international standards (structural benchmark, Table 2), in cooperation with the Executive Committee for the restructuring of these banks and the World Bank.
monique13 says():I listened to part of the interview with Abadi..he said he got money from Kuwait and wants others to help as ....didn't the US help with planes and boots?
Baxter1243 says():End of Feb? really?
rcookie says():HE WAS TALKING ABOUT HUMANITARIAN AID FROM THE OTHER ARAB NATIONS WHO HAVEN'T DONE DIDDLY.....
CanuckLady says to rcookie():Leap year that gives them an extra day
love it 2 says to Baxter1243():looks like "events" needed..not a Rv then
monique13 says():oh, ok, thanks
rcookie says to Baxter1243():BAX ..DO YOU SEE HOW ALL THE REPORTS ABOUT 2 BIG STATE BANKS CONTROLLING TOO MUCH OF IRA'S ASSETS AND NOT GIVING ENOUGH RETURN TO GDP...
rcookie says to Baxter1243():TOO*
love it 2 says to Baxter1243():needed and completed ...sorry for the confusion :)
Baxter1243 says():Yep.. I saw that..
CanuckLady says to Baxter1243():Banks need to be restructured by then not "The Date"
Baxter1243 says-):they are crooks.. most likely..
rcookie says():AND HERE IS WHAT IMF IS LOOKING FOR CBI TO DO....
love it 2 says to CanuckLady():thnx thats what i was thinking also :)
rcookie says():29. The CBI will continue to implement reform measures to enhance the stability of the banking sector in Iraq which includes inter alia:
CanuckLady says to love it 2():Would be nice if that was "The Date"
rcookie says():Introducing the international bank account number (IBAN) system in Iraq;
rcookie says():Increasing the capital requirement of banks to ID 250 billion ($214 million), a level to which all private banks except one have increased their capital;
love it 2 says to CanuckLady():would be yes...highly unlikely tho :(
rcookie says():Contracting a consultant to assist the CBI in rating banks, whereby they rated 17 banks: three banks were rated “satisfactory”, eight banks rated “fair” and six banks “marginal”;
rcookie says():Contacting a consultant to assist the CBI in upgrading the prudential regulations on “Liquidity” and “Capital Adequacy Ratio”;
love it 2 says to CanuckLady():still IMHO ..too much to be done ...they may be showing things being doen...but in no way will they EXPOSE a date ....they be crazy to do such a thing
rcookie says():Working on reviewing and assessing CBI prudential regulations with the assistance of the IMF Middle East Technical Assistance Center (METAC);
love it 2 says to CanuckLady():tho it is nice to see "what appears" to be getting done..lets hope and pray its so :)
rcookie says():THIS ONE ALSO RECENTLY DONE..
CanuckLady says to love it 2():Agre with you, they will never preannounce The Date
rcookie says():Preparing a Deposit Insurance Scheme which stipulates the establishment of a corporation to be licensed by the CBI, of which banks will have the opportunity to take a share in the capital;
rcookie says():AND THIS ONE IS HUGE....THINK ABOUT ALL THE REPORTS OF SUB PRIME LENDING IRAQ BANKS CONDUCTED...
rcookie says():Contracting a private firm to provide the CBI with a credit registry system for sharing information among banks on their common existing and potential borrowers;
CanuckLady says to love it 2():rcookie and the other newshounds are reporting tons of stuff getting done
rcookie says():AND THIS ONE IS DONE...
rcookie says():Issuing a banking law for financial institutions offering Islamic services; and
sassy says():So the depositor Insurance law is done?
love it 2 says to CanuckLady():yes done..and thats always a plus.... but i have to rmain "grounded" seen lots of htings done....but still waiting on the RV has become second nature for me :)
rcookie says():Penalizing financially and administratively banks and non-banks financial institutions for anyone-compliance with laws and regulations in force.
sassy says():Has it been passed in Parliment?
CanuckLady says to love it 2():We all have to stay grounded and learn as we wait
sassy says():To me this is huge
CanuckLady says to love it 2():we are watching the rebirth of a nation
CanuckLady says to love it 2():history being made
love it 2 says to CanuckLady():i'm not disagreeing with rcookie....just staying "grounded" is all... i like whats being posted ....but have to stay level headed for disappointments also :)
kathi says to rcookie():Excellent news!! We are watching all come together!!