Post From Wealthwatch.world Chat Room 11-10-15
Wealthwatch OOTW & Sczin Chat 11-10-15 Part 1 of 2
OOTW: I ENCOURAGE YOU ALL TO READ THIS WEEK'S GOVERNMENT THREAD - THERE HAS BEEN AN ANNOUNCEMENT THAT JOBOURI WILL BE IN ATTENDANCE AT THE ARAB INTERPARLIAMENTARY CONFERENCE IN JANUARY
OOTW: THIS PANEL OF PARLIAMENT HEAD'S DISCUSS ALL ISSUES PERTAINING TO ARAB COUNTRIES, INCLUDING TERRORISM, FINANCE, ECONOMY HUMANITARIAN CONCERNS - THEY ALSO DISCUSS LEGISLATION
OOTW: HERE IS A PORTION OF A PRESS RELEASE FROM THE MINISTRY OF FINANCE SITE
OOTW: Consultations are under way to reach a memorandum of understanding for technical Fund monitoring program to strengthen public financial management and strengthen cash management and provide stability to the financial sector in the country, it is due to these consultations will continue for several days.
OOTW: REMEMBER THAT IRAQ HAS SIGNED CONTRACTS FROM INTER ARAB TRADE
OOTW: TRADE MATTERS WILL ALSO BE DISCUSSES AT THIS CONFERENCE
Doug_W: TY OO
Tootsie: a bit extra ~ Infallible up to Riyadh to attend the Arab Summit to Latin Tuesday November 10 2015 12:25 Baghdad The president of the Republic Fuad Masum, Tuesday, to the Saudi capital Riyadh in order to participate in the Arab Summit Latin. ‘
An informed source said in an interview with Alsumaria News, "The President of the Republic Fuad Masum, arrived today, to the Saudi Arabian capital Riyadh for the purpose of participating in the Latin Arab summit."
The source, who asked not to be named, said: "The summit will discuss a mechanism of cooperation in the fields of economy, culture, education, education, science, and technology, environmental protection, tourism, and sustainable development."
The summit of Arab countries and South America Conference is the forum for political coordination between both the two regions (the Arab region and Latin America), which is also a mechanism for cooperation in the fields of economy, culture, education, science and technology, environmental protection and tourism. translate.google.com/tran... LINK
dwight j: HAPPY BIRTHDAY TO THE MARINE CORPS AND THANK YOU TO ALL THE MARINES SERVING AND THOSE THAT HAVE SERVED
Doug_W: 240 years old today
chattels: Reidar Visser @reidarvisser 2h2 hours ago #Iraq parliament completed 1st reading of 2016 budget today. Mostly procedural but Basra, PMUs demand more $ already ar.parliament.iq/LiveWebs... …
*SCZIN11: IMF Mission Reaches Agreement on Staff-Monitored Program with Iraq Press Release No. 15/509 November 10, 2015 End-of-Mission press releases include statements of IMF staff teams that convey preliminary findings after a visit to a country. ‘
The views expressed in this statement are those of the IMF staff and do not necessarily represent the views of the IMF’s Executive Board. This mission will not result in a Board discussion. An International Monetary Fund (IMF) mission led by Christian Josz visited Amman from November 1–10, 2015 to discuss a Staff-Monitored Program (SMP) with the Iraqi authorities.
At the end of the visit, Mr. Josz issued the following statement: “Iraq continues to face a number of challenges. Key among those is the ongoing armed conflict with ISIS, which continues to strain the country’s resources and results in new waves of internally displaced people, reaching over 4 million in June 2015.
The other key challenge is the fall in oil prices, causing a large external shock to the balance of payments and the budget revenue, which depends predominantly on oil export receipts.
*SCZIN11: “In that difficult environment, real GDP should grow by 1.5 percent in 2015 owing to the increase in oil production, which is located in areas under control of the Iraqi government and the Kurdistan Regional Government.
The current account deficit of the balance of payments should increase to 7 percent of GDP in 2015, and the foreign exchange reserves, which amounted to US$59 billion at end-October 2015, should decline but still amount to 9 months of imports of goods and services at the end of 2015.
“The Iraqi authorities are committed to addressing the fiscal pressures caused by the dual shocks related to oil prices and the ISIS attack. They have reached a staff-level agreement with the mission on an SMP starting at the end of 2015.
Under the SMP, the authorities will implement a fiscal consolidation that will contain public expenditure in line with available revenue and financing, and aim to reduce the non-oil primary deficit by 4 percent of non-oil GDP between 2014 and 2016.
Under the SMP, agreement has also been reached on measures to strengthen public financial management, anti-money laundering and countering the financing of terrorism (AML/CFT), and financial sector stability.
*SCZIN11: “The SMP will be submitted to IMF management for its consideration by the beginning of next year. It will allow the Iraqi authorities to build a track record for a possible Fund financing arrangement.
“During the mission the team met with Minister of Finance Hoshyar Zebari, Acting Governor of the Central Bank of Iraq (CBI) Ali Allaq and officials from the ministries of finance, planning, oil, the CBI, the Board of Supreme Audit and representatives from state-owned banks. The team would like to thank the Iraqi authorities for their cooperation and the open and productive discussions.”
chattels: "The big problem facing the budget about the Kurdistan region budget because of the oil agreement between the federal and provincial government." www.alliraqnews.com/modul...
chattels: "The dispute revolves around the oil money issued by the Kurdistan because of suspension of work in agreement oil between the parties", asserting that "the financial crisis faced by the country and the terms of the budget in terms of investment and ways of financing a major flaw and need to check." indicated that it "if there is goodwill among the political blocs Vstassir budget as planned."
chattels: Budget demands and problems with Basra Governate : www.alliraqnews.com/modul...
*SCZIN11: AND HERE IS THE IRAQ MEDIA WITH STATEMENTS FROM ZEBARI RE: THE CONFERENCE .....
*SCZIN11: Iraq agree on the financial monitoring program with the IMF and issue domestic and international bonds
*SCZIN11: Amman, November 10 (Petra) - from Faik Hijazin- Finance Minister Hoshyar Zebari said that the Iraqi government will issue bonds worth 7 trillion Iraqi dinars in the next year to pay off the balance, dramatized pressures faced due to terrorist threats and the growing number of displaced people and the decline in oil prices in the market deficit Global.
He said in a press conference held on Tuesday in Amman with the head of the IMF mission to Iraq, Christian nut, to announce the Iraqi financial and economic policy surveillance program agreement by the Fund, the bonds that will put the Iraqi government representing 5 billion trillion Iraqi dinars in domestic market and two billion Iraqi dinars in the international market.
He stressed that the government was planning to launch international bonds in the current year but fell against rising interest rates, "but after the Iraqi government agreement on the control of financial and economic policy program, we expect prices lower interest because of the increased confidence of donor institutions, and improve the classification of Iraq in front of the international financial institutions." .
*SCZIN11: He said, in response to a question news agency Petra, said the agreement with the IMF gave a lot of confidence of international donor organizations in the Iraqi economy, noting that the World Bank, and after agreement with the Fund, would give Iraq a loan of 2.1 billion dollars by the end of this year.
Minister Zebari announced to reach the Iraqi government to deal with the International Monetary Fund to monitor the financial and economic policies, does not include any funds or loans from the fund, "but it helps the government and boost its financial position to obtain loans from international financial organizations, and improve the credit rating of the country."
He stressed that the criteria contained in the agreement with the Fund does not include any reductions of salaries and social benefits provided by the government, or the disposal of the aid for displaced people and displaced inside Iraq. He said that Iraq is in crisis and the threat of a terrorist organization Daash, as suffering from a drop in oil prices and large numbers of displaced people are all you need to measures and actions to address them.
*SCZIN11: In response to a question, the minister Zebari, the Iraqi government girl assumptions in the budget bill for 2016, submitted to the Iraqi Council of Representatives finally, at a conservative price of a barrel of oil by $ 45 a barrel. In turn, the head of the IMF mission said to Iraq,
Christian nut, had been to reach agreement on the level of Fund experts on a program watched by IMF experts begin the end of 2015, will be implemented under which the Iraqi authorities fiscal adjustment process to contain public spending in line with revenues and funds Available.
He added that the correction process aimed at reducing the non-oil primary expenditure by 4 percent of the total non-oil GDP to the end of the period of 2014-2016.
*SCZIN11: He pointed out that the agreement with the Iraqi government included needed to support public financial management measures, and measures to combat money laundering and terrorist financing and financial sector stability.
Coconut and pointed to the challenges facing Iraq, most notably the ongoing armed conflict with al Daash terrorist, which is exhausting the country's resources and lead to new waves of displacement, which exceeded with the number of Iraqis displaced four million displaced people until the end of last June, along with the challenge of low oil prices in the global market, that caused "significant external shock" to the Iraqi balance of payments, budget revenues, which depend primarily on oil revenues.
He predicted that the Iraqi GDP to grow by 5.1 percent in 2015 due to an increase in oil production in areas under the control of the Iraqi government, and in areas of the Kurdistan Regional Government.
*SCZIN11: SO.............. I HAVE TO READ THESE TWO RELEASES A FEW MORE TIMES, MAYBE:), BUT AT FIRST GLANCE IT APPEARS THEY ARE PROCEEDING WITH INTERNATIONAL COMPLIANCE AND LOOKING FOR INTERNATIONAL AID AND GUIDANCE, AND ARE PURSUING ALL OPTIONS AVAILABLE TO THEM,
WITH THE HOPES OF IMPROVING THEIR CREDIT RATINGS, WHICH WOULD INCREASE THEIR ABILITIES TO BORROW, FINANCE, AND ISSUE THEIR BONDS, BOTH WITHIN THEIR COUNTRY AND GLOBALLY...
*SCZIN11: THEY ARE CONTINUING TO ACCEPT ALL CONDITIONS THE IMF AND WORLD BANK ARE REQUIRING...
OOTW: THANKS YOU SCZIN11 PROMISING NEWS
*SCZIN11: ‹@OOTW› FROM A SKEPTICAL POINT OF VIEW, IF THEY WERE GOING TO RAISE THE EXCHANGE VALUE OF THE DINAR AGAINST THE USD, WHY THE NEED FOR BONDS,
AS WE HAVE STATED BEFORE, AND WHY THE FINANCIAL WORRIES ABOUT GETTING LOANS AND FINANCING? THE FLIP SIDE IS, EVEN WITH AN INCREASE IN THE VALUE OF THE DINAR,
THE SHORT TERM FINANCIAL CRUNCH WILL NOT BE HELPED, IT WILL TAKE SOME TIME TO BENEFIT THE GOVERNMENT AND THE PEOPLE... SO ANY PROGRESS TOWARDS FINANCIAL LIQUIDITY IS A PLUS
OOTW: ABSOLUTEY AGREED - SOME HELP IS BETTER THAN NONE - ESPECIALLY WITH A FORECASTED (NOTICEABLE) BUDGET DEFICIT
OOTW: AS YOU'VE STATED, I FIND IT HOPEFUL THAT THE IMF IS NOW GOING TO GO THROUGH WITH LOANS - THEY WOULDN'T DO THIS SOLELY IN ORDER TO HELP FIGHTS DAASH AND/OR TERRORISM, THEY HAVE TO SEE A POTENTIAL GAIN OOTW: IMHO
Doug_W: Git Er DUN Iraq
Doug_W: what SHE ^^ said
OOTW: Parliamentary Economic calls for state employees' salaries to the dollar exchange rate History of edits:: 2015/11/10 17:50 • 135 visits readable Parliamentary Economic calls for state employees' salaries to the dollar exchange rate [Baghdad-where] called for a parliamentary committee on Tuesday the economy, the government, the salaries of state employees to the dollar exchange rate. ‘
Jawad al-Bolani told all of Iraq [where] that "the economic and investment commission submitted a request in this regard has been introduced in the first reading of the budget law," noting that "75 deputies endorsed the demand for and received a great support to him."
He added that the "conversion of employees' salaries to the dollar It will put an end to the dominance of some of the auction sale of the currency, "noting that" the auction of the currency industry, trade and production failure. " He said Bolani to "more than $ 37 billion during the 10-month sale," and wondered "what is the return on sales in economic terms? How many hospital was built? How many plant and was created through? ". ended 2
Abraham: As I have said so often the IMF will now have control of monetary policy in Iraq
Abraham: I knew this would happen, was only a matter of time.
Donnie: MntGoat: "So how will this float work? First they intend to come out with a very low rate (unknown ??) and let if float for 4-7 days. During this time period they will issue the new lower denominations paper and coins.
Then after this initial float they will revalue the currency to the true value and let it float also. They will of course cap the float and when it hits the cap after climbing as the market adjusts it then will settle down to the normal rate going forward. We have been told this normal rate will be above the Kuwaiti dinar."
OOTW: who told us it would be above the Kuwaiti Dinar...every pumping guru from here to China OOTW: sigh
OOTW: no insult indented Donnie - thanks for bringing posts into chat
OOTW: Interior: application of national card project in several cities and design its own logo History of edits:: 2015/11/10 22:20 • 34 visits readable Interior: application of national card project in several cities and design its own logo [Baghdad-where] announced that the Ministry of Interior, the application of national card project in several cities and the design of a special card logo.
According to a ministry statement received by the agency all of Iraq [where] a copy of it, that Interior Minister Mohammed Salem Al Ghabban "presided over the Supreme Committee meeting of the draft national card, which included sexual director and a number of concerned bodies chock of the project, and in the beginning of the meeting examined the conferees steps and stages that have been discussed in meetings Previous and things completed them.
"The Minister of the Interior on" the need for continuity of follow-up infrastructure allocated to the departments of national card and buildings, "stressing that" will be the process of sending the project services to all provinces as well as the Kurdistan region.
"The statement continued," were also discussed technical and programmatic matters of the project in order to facilitate the process of reviewing the citizens in terms of time, place and the order of the speed of the procedure, and the provision of subsites requirements and generators to ensure business continuity without interruption.
"instructed Ghabban to" start setting up the nucleus of the Office of the engineering consultant and laboratory examinations special Interior Ministry includes a number of owners of disciplines and experts to the fact that the Ministry of a lot of projects that are needed so specialized office.
"The face of the Minister of Interior to" design a special national card slogan, "stressing" the necessity of the participation of citizens as well as selecting the appropriate design for this project after it is presented to the relevant committee selecting the appropriate logo that will be designed by a
Donnie: a song comes to mind..... "Dream Weaver"
Comments may be made at the end of Part 2 Thank You