D42 Lets see...hmmm....we have a delagation from the UST in Iraq and now this. The last paragraph is my favorite.
Al-Abadi Receives World Bank Director
Prime Minister Dr. Haider Al-Abadi recently received in his office the director of the World Bank in the Middle East and North Africa, Mr. Farid Belhaj, and the Special Representative of the World Bank Mission in Iraq, Mr. Robert Bu Jodah.
The meeting discussed the challenges of Iraq’s economy caused by the global drop of oil prices in addition to reorganizing the economy in Iraq, the government support to private sector,
and turning the challenges of Iraq into opportunities for real reforms besides following up the results of the meeting between PM Dr. Al-Abadi and Director of the World Bank on the margin of Davos Forum last month.
Dr. Al-Abadi mentioned that the government is continuing in implementing its economic reforms and supporting private sector; “this is what we started to seek for through ratifying the budget of this year which adopted abstinence”
and “the government started in this project and it has plans in this field but it needs the help and experience of the World Bank”.
H.E. emphasized the determination of the government to activate a retirement system which guarantees the rights of all Iraqis including those who work in the private sector.
On its part the delegation of the world bank expressed its intention to provide all kinds of support to Iraq and its readiness to establish programs and projects to activate public Banks, cooperate with the Iraqi Central Bank, rehabilitate the state owned companies in addition to supporting infrastructure projects like electricity and water. Dinar4two
hi-five Too many high level banking folks over there for this to be a business as usual week. Almost every where we look - CBI auctions, GOI budget, citizens starting to panic about dollars drying up, and all the WB and IMF visitors. I really hope we are about done!
Aaanth i remember years ago people saying this is where we had to get before we could really be in a positin to expect an RV. well, WE'RE HERE!
Tlar This is the same thing the WB did in 2010 and again in 2012. They said they would support the CBI and their deletion of the zero program with all tools necessary including loans.
Maliki stopped it then but there is nothing standing in their way now except fear itself. This time they have committed and must follow through or not doing it could harm both their economy and their banking system. tlar
D42 Great point tlar! Cheers everyone, here's hoping one day this week is the day we have been waiting so long for!
Hi-Five If, for some reason, it doesn't happen, there will be thousands of dinarians standing around with the "deer in headlights" look for probably days.
Tlar Not to mention a credibility issue for myself and anyone else who thinks they can't weasel out of doing it this time. tlar