Post From Dinar Updates
Chat Room Excerpts & Highlights
RCookie & Mr White News Time 6-24-16 Part 2 of 3
rcookie says():LOOP MR WHITE AND I ARE GOING TO BRING THE INTERVIEW IN ITS ENTIRETY AND BREAK DOWN FOR EVERYONE....IT IS AN EPIC!!!...
Hutch says to flint():WORKIN ON IT !!! D
rcookie says():BUT FULL OF JUICY STUFF.....ADDITIONALLY THERE ARE SOME AMAZING PARALLELS TO ALAKS ANSWERS TO THE SAME QUESTIONS ASKED SHABIBI IN THE SHABS...ABADI...SALEH INTERVIEW....AMAZING!!!
flint says():looking forward to that
Hutch says():RCOOKIE AND MR WHITE ARE GOING TO NEED NEW PENCILS !!!!!
rcookie says():OK HERE WE GO... Zaidi: Parliament will hold its sessions before the feast of the Federal Court and got to separate appeal at its
24-06-2016 01:27 PM MP stressed full Zaidi National Alliance, that the House will resume its sessions after the end of the legislative recess scheduled before Eid al-Fitr.
Zaidi said that there will be sessions of the House of Representatives before the Eid, as the legislative recess will end on the first of next July, there will be a meeting of the Parliament
He added that there is a crisis has overshadowed the legislative institution of the Federal Court is capable of the season, and reached the finish in the appeal raised ', pointing out that the court will find next Tuesday path of the issue and resolve it about two sessions of Parliament, as the report of the Committee preparer will be presented on Sunday to the court.' in reference to the appeal raised Bgelsta Council meetings, the House of Representatives in the month of April. "
Read More : http://www.dinarupdates.com/showthread.php?36226-Zaidi-Parl-will-hold-its-sessions-before-feast-Eid-of-the-Federal-Court-appeal
rcookie says):SO...NATIONAL ALLIANCE MP ZAIDI ANNOUNCES THE HOR WILL RESUME AT END OF LEGISLATIVE RECESS (JULY 1ST)BEFORE EID HOLIDAY....
AND OUTLINES THE FEDERAL COURT RULING ON 2 SESSIONS SUBMITTED SUNDAY BY COURT PREPARER... AND RULED ON TUESDAY...
wmawhite says to rcookie():this tuesday?
rcookie says():FOLKS THIS IS GOING TO GO DOWN IN THE NEXT 4 DAYS......
subgirl says to rcookie():AWESOME!!!WOW!
rcookie says():WITH THE DIRE NEED OF PARLIAMENT TO BE RE-ENGAGED TO GET VOTEING ON WHAT THE IMF WANTS DONE TO GET THE SBA LOANS...
Hutch says to rcookie():THATS RIGHT GET TO VOTING !!!!!!
wmawhite says to rcookie():No voting.........no loans........
rcookie says():PUBLIC FINANCIAL MANAGEMENT LAW....REVISED 2016 BUDGET LAW....CBI LAW....INVESTMENT LAW AMANDED....AND BANKING LAW....
Hutch says to wmawhite():NO TICKET ..... NO LAUNDRY !
rcookie says():NO SOUP FOR YOU!!!
Hutch says to rcookie():D
wmawhite says to Hutch():Are those Chinese or Arab laundries?
Hutch says to wmawhite():LEMME GET BACK TO YA ON THAT !
Hutch says():WOW SUCH EXCITING NEWS AND WE A SOOOO CLOSE TO IT ALL ! WE ARE SO CLOSE !
subgirl says to Hutch(): (y) SO EXCITING!!!!!! I am PUMPED!!!! )
rcookie says():OK LAST ONE AND WELL GET INTO SBA FOR EVERYONE@@
pacella says():SO THEY COME BACK ON THE 1ST AND VOTE
Hutch says to rcookie():pacella: SO THEY COME BACK ON THE 1ST AND VOTE
JUST IN CASE
rcookie says():THATS WHAT THE MAN SAID....AND THATS NATIONAL ALLIANCE!!......
Hutch says to rcookie():I LIKE IT WHEN THE MAN SPEAKS !!1
Hutch says to pacella():GREAT QUESTION PACELLA !
Hutch says():OK BRING IT ON RCOOKIE
rcookie says():State of Law Coalition reveals next steps Abadi reform
Thu, 23 Jun 2016 21:48:02 MP for the coalition of state law, Jassim Mohammed Jaafar, for the reform plans of the Prime Minister Haider al-Abadi to be conducted after the Eid al-Fitr, while noting that he will work to open up the prospects for investment and solving economic and financial problems in the country.
Jafar said that al-Abadi busy now bodies independent ministerial amendment, adding that he is feeling the pulse of the existing political blocs ..
He pointed out that al-Abadi will consider staying on the same government or resort to the overall change if desired most of the members of parliament to do so without resorting to quotas or may change some leaders of the blocs in the government figures the second and third line.
Read More : http://www.dinarupdates.com/showthread.php?36225-State-of-Law-Coalition-reveals-next-steps-Abadi-reform-6-24
rcookie says():SO...STATE OF LAW MP JAAFAR ASSERTS THAT THE ABADI REFORM PLAN WILL BE IMPLEMENTED AFTER EID AND NOTED...
”HE WILL WORK TO OPEN THE PROSPECTS FOR INVESTMENT AND SOLVING THE ECONOMIC & FINANCIAL PROBLEMS IN THE COUNTRY”...
ABADI CURRENTLY WORKING WITH INDEPENDENT MINISTERIAL BODIES AND HAS PULSE OF THE POLITICAL BLOCS TOWARD DIRECTION OF GOV’T COMPOSITION...
”HE WILL WORK TO OPEN THE PROSPECTS FOR INVESTMENT AND SOLVING THE ECONOMIC & FINANCIAL PROBLEMS IN THE COUNTRY”...
wmawhite says to rcookie():HAS PULSE OF THE POLITICAL BLOCS TOWARD DIRECTION OF GOV’T COMPOSITION...
Abadi knows what the blocs wants in order for them to support him.
daytrader says to Hutch():And he's going deep into these orgs if he's going to the second and third line positions
wmawhite says to daytrader():Good point
rcookie says():AND THE GOV'T COMPOSITION IS PART & PARCEL TO THE INSTITUTIONAL "STABILITY" THAT ALAK JUST SPOKE OF IN HIS INTERVIEW CONCERNING DELETE THE ZEROES PROJECT!!..
wmawhite says to rcookie(): YOU THE MAN!!!! point on
rcookie says to daytrader():GREAT POINT!!....
daytrader says to rcookie():All coming together quickly...Run Forest Run.
rcookie says to daytrader():AGREED ...AND AT LIGHTNING SPEED!!..
OK ANY OTHER ?'S....
wmawhite says to rcookie():do you get the feeling that this may have been planned and is a very thoughful process?
Tex says to wmawhite():y)
daytrader says to wmawhite():Ya think!!!
rcookie says():JUST A LITTLE......NAAAAAAH A WHOLE LOT!!
wmawhite says to rcookie():rhetorical
subgirl says to wmawhite():y)YES!!!
wmawhite says to rcookie():AGREED
wmawhite says to subgirl():y)
wmawhite says():Lets do alak
rcookie says():OK.......THERE HAVE BEEEN A LOT OF QUESTIONS....DISCUSSION AND RUMORS CONCERNING IRAQ POSITIONING IN EARNING AND RECEIVING ACCESS TO THEIR IMF SBA LOAN UMBRELLA....
OFF OF THEIR IMPECCABLE PERFORMANCE IN THEIR SMP (STAFF MONITORED PROGRAM) THAT STARTED IN JAN 2015...AND RUNS THROUGH DEC 2016...
SO HERE WE GO..
IMF Stand-By Arrangement
In an economic crisis, countries often need financing to help them overcome their balance of payments problems. Since its creation in June 1952, the IMF’s Stand-By Arrangement (SBA) has been used time and again by member countries, it is the IMF’s workhorse lending instrument for emerging and advanced market countries.
The SBA was upgraded in 2009 along with the Fund’s broader toolkit to be more flexible and responsive to member countries’ needs. Conditions were streamlined and simplified, and more funds were made available up front, as borrowing limits were doubled in response to the global financial crisis. These limits were increased further in 2016. The new framework also enables broader high-access borrowing on a precautionary basis.
IRAQ HAS UTILIZED THIS OPTION 4 TIMES SINCE 2005 AND 1 RFI (RAPID FINANCING INSTRUMENT)...
angus says):ok so what makes this time different?
Hutch says to wmawhite():YES SIR !
wmawhite says():so, was there achange in the value of the IQD those 4 times?
Hutch says to angus():RIGHT AFTER MR WHITE HANG ON
rcookie says():NO SIR...JUST PERFORMANCE
wmawhite says():So, the SBA loan arrangements is a budget item?
Not a currency value CBI issue?
rcookie says():CORRECT....A BUDGET BRIDGING TOOL TO BE IMPLEMENTED AS NEEDED...
AND WE WILL EXPLAIN HOW AND WHY....
wmawhite says():So, the Budget is a GOI issue not a CBI issue? I am finished
rcookie says():CORRECT...WHICH IS WHAT ALAK I SCREAMING ABOUT EVERY TIME HES INTERVIEWED
Hutch says to rcookie():angus: ok so what makes this time different?
rcookie says():THE CBI RESERVES ARE NOT THERE FOR A SAFTEY NET FOR A POORLY RUN AND MANAGED GOV'T...
HANG ON ANGUS HERE WE GO..
Lending tailored to member countries’ needs
The SBA framework allows the Fund to respond quickly to countries’ external financing needs, and to support policies designed to help them emerge from crisis and restore sustainable growth.
All member countries facing external financing needs are eligible for SBAs subject to IMF policies. However, SBAs are more often used by middle income (and, more recently, advanced) member countries, since low-income countries have a range of concessional instruments tailored to their needs.
The length of a SBA is flexible, and typically covers a period of 12–24 months, but no more than 36 months, consistent with addressing short-term balance of payments problems.
Access to IMF financial resources under SBAs is guided by a member country’s need for financing, capacity to repay, and track record with use of IMF resources. Within these guidelines, the SBA provides flexibility in terms of amount and timing of the loan to help meet the needs of borrowing countries. These include:
Normal access. Following implementation of the 14th Review quotas in early 2016, borrowing limits were increased to give countries access of up to 145 percent of new quota for any 12-month period, and cumulative access over the life of the program of up to 435 percent of new quota, net of repayments.
rcookie says():Exceptional access.
The IMF can lend amounts above normal limits on a case-by-case basis under its Exceptional Access policy, which entails enhanced scrutiny by the Fund’s Executive Board. During the current global economic crisis, countries facing acute financing needs have been able to tap exceptional access SBAs.
The new SBA framework provides increased flexibility to front-load funds when warranted by the strength of the country’s policies and the nature of its financing needs.
Fund support under the SBA can be accelerated under the Fund’s Emergency Financing Mechanism, which enables rapid approval of IMF lending. This mechanism was utilized in several instances during the recent crisis.
THIS IS IMPORTANT...
The new SBA framework has expanded the range of high access precautionary arrangements (HAPAs), a type of insurance facility against very large potential financing needs. Precautionary arrangements are used when countries do not intend to draw on approved amounts, but retain the option to do so should they need it.
18 BILLION IS VERY LARGE FINANCING NEEDS....
OK......EVERYONE WITH ME..... COME ON DU....
daytrader says to rcookie():Yep
Hutch says to rcookie():YEP SO FAR
Tex says to rcookie():y)
rcookie says():READ THIS...
subgirl says to rcookie():y)
rcookie says():Fewer conditions, focus on objectives
When a country borrows from the IMF, it agrees to adjust its economic policies to overcome the problems that led it to seek funding in the first place. These commitments, including specific conditionality, are described in the member country’s letter of intent (which often includes memorandum of economic and financial policies).
pacella says():L) D
rcookie says():THAT IS THE MISSION STATEMENT OF THE LETTER OF INTENT.....WHERE ALL OF THESE INITIATIVES AND MANDATES WE HAVE BEEN FOLLOWING EXIST....
Building on earlier efforts, the IMF has further reformed the conditions of its lending to focus on criteria that are measurable and observable:
MEASURABLE AND OBSERVABLE!!!!!!
Hutch says to rcookie():PERFORMANCE BASED ?
rcookie says):Quantitative conditions.
Member countries’ progress is monitored using quantitative program targets (quantitative performance criteria and indicative targets). Fund disbursements are conditional on the observance of quantitative performance criteria, unless the Executive Board decides to waive them. Examples include targets for international reserves and government deficits or borrowing, consistent with program goals.
rcookie says to Hutch():YES SIR AND RESULTS DRIVEN...