(Thank you Denaridori for sending this to Dinar Recaps.)
From Islandg1211 – THE IMF IMPOSED REQUIREMENTS TO MAKE ECONOMIC REFORMS BEFORE GETTING ANOTHER LOAN INSTALLMENT.
The IMF imposed requirements on the CBI to make economic reforms prior to getting another loan installment. The IMF isn't just giving Iraq money. One requirement is that Iraq improve their credit rating.
Although, the IMF hasn't stated that the CBI has to raise their exchange, it's hard to imagine that that wasn't discussed. An article today on a meeting between Saleh, Allak and others quotes Allak stating that has requirements from the IMF in order to get more loan installments.
Here's the article:
On the Keywords: we underestimated the effects of the financial crisis in Iraq in several ways
Roudao – Dohuk systems at the American University in Dahuk province, an economic conference, discuss the financial problems in Iraq, with the participation of senior financial and economic officials. The governor of the Iraqi Central Bank, on the Keywords, during the conference ,
“We underestimated the impact of the financial crisis in Iraq in many ways , ” adding “we were able to provide four trillion dinars thanks to invest in banks, has had a significant impact in improving the economic situation in Iraq.” he stressed that “it is because of the deterioration of oil prices and the decline in revenue forced us to take several measures in order to maintain the Iraqi economy,” noting that ” in order to temper from the financial crisis, we have allowed banks to invest half the amount of liquidity and reserve them, and that was the cause of the utilization by 4 trillion dinars from these banks.
if not , there is the money, the situation in Iraq was going to be worse than now. he was also an effect on the unemployment problem and reduce the percentage; We must revitalize the Iraqi economy again. ” as it was getting foreign loans from the international Monetary Fund and World Bank one way the Iraqi government to reduce the financial crisis, said Undersecretary of the Ministry of Finance, Fadhil Nabi,
in this regard:” financial centers were not ranked Iraq, when we started talks for the loan, we thought that this category will not help Iraq to reduce the interest rate to a rate of 10.5% and due to this high percentage, we thought of working directly with the centers that deal with the international Monetary Fund , which was imposed on us too many conditions, and were told the IMF that we can not gave you money unless there are guarantees to restore credit, including conduct economic reforms. ”
experts confirm the continuation of the granting of Iraq loans by international financial centers linked to the reforms carried out by Iraq, which did not receive Baghdad only a fraction of the $ 16 billion requested.
From islandg1211 – IT’S IMPORTANT TO FACT CHECK
The misleading posts on Iraq's WTO, FATF status, and the liberation of Mosul is upsetting.
I have posted the WTO website page on Iraq that clearly shows that Iraq has done NOTHING for years to further their membership. Iraq hasn't even had a working group meeting scheduled with the WTO the past few years.
I also posted the FATF website info that said that they reviewed Iraq in June and they had four more requirements to complete before getting on the White List. So, Iraq is not on the White List, nor will they be by January unless they complete the requirements state.
I said last January, Barzani gave a CNN interview and stated that Mosul wouldn't start for months, and it would take months to complete.
I posted last New Years that Abadi gave a speech that day and said Mosul would be free "by the end of the year."
Iraq has years to go to join the WTO. Iraq has more steps to complete to get on the FATF White List. Mosul was never expected to get done before the end of the year.
It's important to fact check.