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Post From Wealthwatch.world Chat Room
Wealthwatch Chat Room News & Comments 5-15-16 Part 1 of 2
chattels: Kurdistan - Iran invites Barzani amid apparent mediation role over Erbil-Baghdad strains
chattels: ERBIL, Kurdistan Region – Iran has extended an official invitation to Kurdistan Region President Masoud Barzani, whose last visit was in 2011, following talks in Baghdad and Erbil by Iran’s intelligence minister. The invitation, reported in a statement by the Kurdistan Regional Government (KRG), also comes after an Iranian Consulate official in Erbil last week urged the Kurds to resolve all disagreements with Baghdad.
rocknrollbus: So, what's the skinny on this Amman meeting.........I thought they already had a credit rating........a B-??
chattels: ‹@rocknrollbus› The real " rub " seems to be budget issues.
chattels: met Parliament Speaker Salim al - Jubouri, Sunday, heads of political blocs in the Constitutional Hall to discuss the current situation experienced by the country and a mechanism to obtain the IMF loan. The MP for the Union of Forces triumph Jubouri told all of Iraq [where] that "Parliament Speaker Salim al - Jubouri, he met with the heads of blocs and the chairman and members of the Finance Committee in the Constitutional Hall in the House of Representatives for the purpose of the mechanism of reducing the budget study to get the IMF loan."
rocknrollbus: I know the IMF was tiffed about giving them their next loan and the budget.
chattels: " reducing the budget " I take to mean closing the gap between revenue and expenditures.
chattels: ‹@rocknrollbus› I posted the following yesterday morning :
chattels: The importance of politics or government in Iraq relates to the ability of Iraq to repay debt / support their currency. There is little question as to the assets / wealth of Iraq / collateral, but can Iraq produce the asset ? Can Iraq get oil to the marketplace reliably.
Iraq's ability to produce reliably is dependent upon it's stability and security. The budget, political stability and security all impact upon production and the payment of debt / currency support.
Whether Iraq can make the necessary change(s) and assurances required by international finance ( IMF ) which is the subject of the meetings in Jordan may be critical for us. Iraq needs an acceptable international credit rating or standing to survive and thrive.
Finance is driven more by ability to repay reliably and timely than the existing collateral. The fate of our investment may depend upon it. IMO. Finance is more interested in performance than potential is my point. Iraq has great potential, but can it perform. Iraq must function better in order to reliably perform.
The IMF conditions precedent or attendant to a loan(s) are intended to improve upon function and performance by Iraq. The IQD, Iraqi script paper, is essentially a promise to pay. The script is in and of itself worthless without the " full faith and credit " of the Iraqi government.
rocknrollbus: They're not going to get "anything" done until they reign in all of their corruption!!
chattels: " Whether Iraq can make the necessary change(s) and assurances required by international finance ( IMF ) which is the subject of the meetings in Jordan may be critical for us."
chattels: " The IMF conditions precedent or attendant to a loan(s) are intended to improve upon function and performance by Iraq."
chattels: ‹@rocknrollbus› Just my opinion of course.
rocknrollbus: And this new reform front? I'm sure that will throw another monkey wrench in the gears......
chattels: The budget is law which requires an act(s) of Parliament to change. Query - can the gridlock currently in Parliament be overcome to secure the IMF loan(s) ?
rocknrollbus: Calling for Jibouri's resignation.....
chattels: Looks like another committee being formed to address the parliamentary impasse.
chattels: ubouri and political blocs confirm the formation of a committee of powers to create to hold the parliament session
chattels: A statement by the Presidency of the Council of Representatives received by all of Iraq [where] a copy of it given the state of the country of exceptional crises critical, is the security and financial conditions, etc., and the interest of the higher interests of the country and to ensure the achievement of full victory over the common enemy "Daash"
In order to overcome the current parliamentary crisis , the board of the presidency of the Council of Representatives with the heads of political blocs met on Sunday, in the presence of committees, defense and financial security and the economy has taken a number of recommendations. "
rocknrollbus: Yezzir!! Staged up, waiting for my pecking order parking.......
chattels: " .............. given the state of the country of exceptional crises critical, is the security and financial conditions,................"
chattels: Finance Minister Hoshyar Zebari arrived on Saturday, the Jordanian capital , Amman , on top of a large government delegation that included the governor of the central bank and adviser Economic Prime Minister and senior ministries of oil and electricity, planning officials and BSA as well as public bodies for Customs, taxes and retirement, experts and the Ministry of Finance and the World Bank Central.
chattels: A statement by the Ministry of Finance, the Agency has received all of Iraq [where] a copy of it, said the visit "to resume negotiations with the International Monetary Fund to seal the Stand -By agreement , which will provide Iraq with financial support to enable it to overcome the financial crisis and reduce the gap in the budget so as to enhance economic system reform process and financial in the country. "
rocknrollbus: ‹@chattels› It sounds like Catch 22!! They can't get the laws passed because the corrupt know they'll go to prison...........but, you need the laws to "send" them to prison t
chattels: " ................. provide Iraq with financial support to enable it to overcome the financial crisis and reduce the gap in the budget so as to enhance economic system reform process and financial in the country. "
rocknrollbus: ‹@chattels› Are they still in Amman?
rocknrollbus: n was held this morning with the IMF experts were reviewing the technical aspects of the agreement and the obligations opposite to both sides. ” the statement pointed out that” the negotiations will continue until Wednesday, and it is hoped that the termination of these arrangements during this period . ” .
The international Monetary Fund has told Iraq the need to edit the budget for fiscal 2016 bill to be reduced in order to hopefully disbursement of the loan over the next few days.
She called the presidency of the parliament blocs and parliamentary committees to attend an urgent meeting of the decision on Sunday to take legislative and legal necessary to ask the international Monetary measures that the “Treasury the government is unable to pay and benefits for the people without access to this loan salaries. ” alliraqnews
chattels: ‹@rocknrollbus› Yes, arrived yesterday and will be there through the 18th
rocknrollbus: Just saw that......
rocknrollbus: Anyone see the picture posted with Zebari, Shabbs, and Keywords?
rocknrollbus: Crap......duty calls......gotta get parked up. U's guys have a good day, A!!!
chattels: Iraq is rated B- at S&P Global Ratings, six levels below investment grade. The yield on the country’s $2.7 billion Eurobonds due in 2028 has declined 33 basis points this year to 10.4 percent, according to data compiled by Bloomberg.
chattels: Allaq said he has seen “no signs” that the unrest could affect talks with the IMF.
chattels: Sajad Jiyad @SajadJiyad 53m53 minutes ago Iraq Sees $15 Billion in Aid Through 2017 as IMF Deal Looms - Bloomberg
chattels: Parliamentary Finance: Budget unspecified staff salaries and the International Monetary Fund cuts stipulated pressure spending about 13 trillion dinars
chattels: " the cuts requested by the international Fund for unspecified employees ' salaries, because the international Fund is required to reduce overall spending in the general budget of about 13 trillion dinars. "
chattels: " there are other doors in the general budget can be accessed for the required reduction is staff salaries. "
Doug_W: good Question
chattels: Is the speaker suggesting that the budget cuts can be accomplished without amendment of the budget / act of Parliament ?
chattels: " there are other doors in the general budget can be accessed for the required reduction is staff salaries. " !!!!!!!!!!!!
Doug_W: it surely is an interesting "study" over there "C"
chattels: $ 15 billion in " cuts " is a significant portion of the budget.
*SCZIN11: IT WOULD SEEM THE IMF KNOWS SOMETHING WE DONT KNOW...WHY WOULD THEY SUGGEST INVADING THE BUDGET FOR REVISION....
OR IS THAT ANOTHER TRANSLATION ISSUE...WE REALLY NEED TO SEE AN IMF RELEASE, WHICH WE MAY SEE AFTER THE MEETUNGS ARE OVER..JMHO
chattels: US Colonel Steve Warren , a spokesman for the international Alliance of the US - led against regulation: "We have seen the announcement of a state of emergency in Raqqa, whatever that means , "
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