Post From Dinar Updates
Chat Room Excerpts & Highlights
RCookie & Mr White News Time 6-24-16 Part 3 of 3
angus says():so this is you show me yours first.... so to speak
rcookie says to Hutch():WE HAVE POSTED THESE MANY TIMES IN THE PUBLIC FINANCIAL MANAGEMENT SECTION....THE BANKING SPERVISION SECTION AND THE PROGRAM MONITORING SECTION...
rcookie says to angus():THIS IS PUT YOUR BIG BOY PANTS ON AND COME AND PLAY WITH THE SERIOUS GLOBAL PLAYERS WITH SERIOUS RULES AND STANDARDS!!...
rcookie says to angus():Structural measures.
The new SBA framework has eliminated structural performance criteria. Instead, progress in implementing structural measures that are critical to achieving the objectives of the program are assessed in a holistic way, including via benchmarks in key policy areas, in the context of program reviews.
david334 says):Iraq has outperformed any country in similar circumstances most of which were overwhelmed by the displine ansd detail required
rcookie says to angus():Frequency of reviews.
Regular reviews by the IMF’s Executive Board play a critical role in assessing performance under the program and allowing the program to adapt to economic developments. The SBA framework allows flexibility in the frequency of reviews based on the strength of the country’s policies and the nature of its financing needs.
THESE REVIEWS ARE WHAT WE MEASURE AND WEIGH IRAQS PERFORMANCE AGAINST TASK IN THEIR SMP.......
Repayment of borrowed resources under the SBA are due within 31⁄4-5 years of disbursement, which means each disbursement is repaid in eight equal quarterly installments beginning 31⁄4 years after the date of each disbursement.
rcookie says():Lending rate.
The lending rate comprises (1) the market-determined Special Drawing Rights (SDR) interest rate—which has a minimum floor of 5 basis points—and a margin (currently 100 basis points), together known as the basic rate of charge, and (2) surcharges, which depend on the amount and time that credit is outstanding.
A surcharge of 200 basis points is paid on the amount of credit outstanding above 187.5 percent of quota. If credit remains above 187.5 percent of quota after three years, this surcharge rises to 300 basis points. These surcharges surcharges are designed to discourage large and prolonged use of IMF resources.
rcookie says():Commitment fee.
Resources committed under all SBAs are subject to a commitment fee levied at the beginning of each 12-month period on amounts that could be drawn in the period (15 basis points for committed amounts up to 115 percent of quota, 30 basis points on committed amounts above 115 percent and up to 575 percent of quota and 60 basis points on amounts exceeding 575 percent of quota).
These fees are refunded pro rata if the amounts are drawn during the course of the relevant period. As a result, if the country borrows the entire amount committed under an SBA, the commitment fee is fully refunded. However, no refund is made under a precautionary SBA under which countries do not draw.
rcookie says():Service charge.
A service charge of 50 basis points is applied on each amount drawn.
OK....MANY HERE HAVE ASKED ABOUT SPECIFIC TERM DETAILS AND HOW THE LENDING PROCESS WORKS....
YOU ALL SEE THAT THEY CAN BORROW UP TO A PERCENTAGE OF SDR HOLDINGS...
IRAQ WAS GIVEN THE ABILITY TO BORROW 200% OF THEIR SDR RESERVES...
rcookie says():THEY ARE MAXED OUT AT THE CURRENT SBA OF 18 BILLION ALONG WITH 1.7 BILLION THEY BORROWED LAST YEAR...
Hutch says to rcookie():NOW THAT MAKES SENSE, THATS WHERE THE MONEY COMES FROM
david334 says():The IMF treats each sovereign crisis as unique in terms of the permnant fix. The holistic approach means looking at what are the multifactoral causes the disease in the patient and sets causal prioroities to treat and cure the disease
david334 says():But thats a difficult prediction
rcookie says():CORRECT....AND AS WE HAVE BEEN STATING THIS IS NOT A 1 SIZE FITS ALL AGENCY ...MUCH LIKE THE WTO....
rcookie says():THESE SPECIFIC PROGRAMS ARE TAILORED AROUND THE COUNTRY'S NEEDS AND CIRCUMSTANCES....ON A CASES BY CASE BASIS..
rcookie says to wmawhite):MR WHITE ...DO YOU WANT TO COMMENT ...
david334 says():Success requires very closes ecurtiny as outcomes evolve
rcookie says to david334():AND THE SCRUTINY THEY HAVE BEEN UNDER IN MORPHING THIS NATION...CULTURE...AND ECONOMY SINCE 2004 IS STUNNING!!...
wmawhite says to rcookie():This another indication that the IMF (Article 8) is happy with Iraq
rcookie says to david334():SCRUTINY AND GUIDANCE AND TECHNICAL ASSISTANCE FROM WTO....IMF....WB....UN....SIMPLY AMAZING.....AND WE ARE ALL FORTUNATE TO BE TAKING THE RIDE WITH THEM!!!
subgirl says to rcookie():love that!!!!
rcookie says to david334():TOTALLY AGREED...THEIR PERFORMANCE AND STATUS IS EXEMPLARY!!...
Hutch says to wmawhite):VERY TRUE !
wmawhite says to rcookie():comment
rcookie says to wmawhite():YES SIR...
Hutch says to wmawhite():YES PLEASE !
pacella says):TO BAD EVERYONE ELSE DONT SEE HOW GREAT THEY ARE DOING ONLY THE BOMBINGS BEEN REPORTED
wmawhite says to rcookie():Again,.........IMO it is not if Iraq is Article 8, is or is not, instead, how compliant are they?.........here , they are very compliant.
rcookie says():WELL SPOKEN!!...
Tex says to wmawhite():Go Iraq....
angus says):If I may ask that you guys keep my state in your prayers.... So far there has been 20 people killed in the flooding here in West Virginia. .'(
david334 says to wmawhite():yes absolutely
rcookie says():I HOPE THIS CLEARS UP SOME OF THE CONFUSION AND LENDS INSIGHT AS TO HOW HARD IRAQ HAS WORKED...AND HOW WELL THAY HAVE PERFORMED TO EARN THIS OPPORTUNITY.....
Hutch says to angus():WILL DO !
rcookie says to angus():WOW ANGUS...SURE WILL!!
pacella says():HOW CLOSE ARE THEY GETTING INTO THE WTO
Hutch says to rcookie():IT CLEARS UP A BUNCH
subgirl says to rcookie():yes it does!!!
Hutch says to rcookie():WILL THEIR PERFORMANCE BE REVIEWED ?
OR WILL THEY BE GRADED SO TO SPEAK?
rcookie says to Hutch():GREAT QUESTION.......
OK...REALLY QUICK HERE...
IN ADDITION TO THE PERFORMANCE REVIEWS THAT IRAQ GOES THROUGH TOWARD THEIR SMP PERFORMANCE AND GOALS....
rcookie says():ANYONE REMEMBER WHAT OTHER REVIEW THEY PARTICIPATE IN AND THE INTERVAL...
david334 says to rcookie():banking revisons
rcookie says():THINK ABOUT THIS DU....
Hutch says():GIMME A HINT .D
rcookie says():Article IV Consultation
daytrader says to rcookie():Quarterly, and MOU/LOI
coco1 says():i was going to say quarterly also
rcookie says():Iraq is on the standard 12-month consultation cycle. The last Article IV consultation was concluded on July 29, 2015, along with a request for purchase under the Rapid Financing Instrument. The staff report (IMF Country Report No. 15/235) was published on August 18, 2015, and is available on the internet at:
2005–15Department DateFAD February 2005April 2005November 2006December 2006May 2007March 2008August 2008March 2009October 2009May 2010March 2012May 2012December 2012May 2013March 2014June 2015November 2015
Movack says():But that review will not be done for comment until mid july
rcookie says():OK DU ...SO WHAT DOES THIS TELL US.....IF THE SMP THAT QUALIFIED THEM TO RECEIVE THIS 18 BILLION SBA ENDS IN 2016...
Martha Sue says():they have to have another review?
rcookie says():AS FAR AS THEIR ANNUAL PC (PERFORMANCE CYCLE)
Martha Sue says():by July 29, 2016?
Hutch says to rcookie():IS THIS THEIR LAST ONE?
rcookie says():TELL EM WHAT HES WON JOHNNNY!!!!...
Hutch says to rcookie():JUST PAY ME IN DINAR !!!!
subgirl says to Hutch():lol
Hutch says to rcookie():SOOOO, THIS IS KIND OF LIKE THEIR GRADUATION ?
david334 says to rcookie():But the RV and SBA are not necessarily linked timing wise?
rcookie says():SO DOES EVERYONE HAVE BETTER UNDERSTANDING AS TO HOW THE SBA'S WORK...AND WHAT THEY ARE AND ARE NOT RELEVANT TO....
wmawhite says to david334():Exactly
david334 says to rcookie():yes yes yes where did Iraq find these people let them run the US
rcookie says():HUTCH IS EN FUEGO!!...
EXACTLY AND GREAT POINT...
Hutch says to rcookie():WATCH IT BUDDY !
rcookie says():THINK OF IRAQ AS HAVING GONE AND GRADUATED FROM UNDERGRAD SCHOOL....GONE ON AND GOTTEN THEIR MASTERS....
WENT FURTHER AND EARNED THEIR PHD.....AND NOW HAVE TO GO OUT INTO THE GLOBAL MARKET AND APPLY WHAT THEY HAVE LEARNED!!!!!....
subgirl says to rcookie():WOW!! y)
jimplants says():best thing you have said all year
bibi says to rcookie():Love it! .)
jimplants says():and you have said alot
Hutch says():WOW O WOW WOW !!!!!!!!!!
Movack says():rcookie are you saying then that this could possible be a September rollout whith other world events that have been metioned by world entities?
magnetlady says():WOWsers is right rcookie
subgirl says to rcookie():that is EXCITING!!!!!!!!
rcookie says():GRETA....GREAT...GREAT...QUESTIONS AND CONVERSATION!!!
Dinar Dave says():LOL... That's difficult with the clown thay had running the country...lol... But your point is well taken...
david334 says to rcookie():I have been shot by a stun gun8-|
Hutch says():TALK ABOUT KNOCKING IT OUTTA THE PARK !!!!!!!
rcookie says():MR WHITE SIR AS USUAL YOU ARE SIMPLY THE BEST...THANK YOU SO MUCH!!!...
sassy says():rcookie love the news
clay01 says to subgirl():What did everyone get excited about, I don't get it
BUCK says():so where does the necessity of a value change occur???? thx
rcookie says to sassy():HEY THERE SASSY!!!!....BOULYAAAAAH!!!
Hutch says():WHAT AN EXCITING NEWSTIME !!!! SO MUCH GREAT NEWS!!!!!
THANK YOU RCOOKIE AND MR WHITE FOR A GREAT NEWSTIME!!!!!
AND THANK YOU ALL YOUR PARTICIPATION !!
THANK YOU MS MAGS FOR COPYING AND COLORING !!
THANKS SUBBY FOR YOUR HELP AND THE BEAUTIFUL PRAYER !
HAVE A GREAT FRIDAY EVENING EVERYONE !!!!
david334 says():rcookie+wmawhite= extraordinary excellence Thx
coco1 says():me too, i'm a little confused
sassy says():rcookie oh yeah mister
Hutch says to BUCK():ITS LIKE A COLLEGE STUDENT
IRAQ IS FINISHED AND GOING OUT INTO THE REAL WORLD
rcookie says to david334():TYVM DAVID!!....THANKS FOR PARTICIPATING...
bibi says():Thank you, RCookie, Mr. White, Hutch, Ms Mags, Subby and all. Woo hoo!
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