The outlook for global growth is stable for the current and next years
Capitals / follow-up Shukran al-Fatlawi An IMF report highlighted the growth of the global economy, the Middle East and North Africa, where the IMF kept its outlook for global economic growth unchanged for the current and next year while adjusting growth forecasts for the euro zone and China upwards. A marked slowdown in 2017 for the growth of the Middle East and North Africa economy, Saudi Arabia’s growth is likely to fall to zero, the International Monetary Fund said Monday. Gross world product. In the latest World Economic Outlook, the report said the GDP growth rate would be 3.5 percent in 2017 and 3.6 in 2018. The latest IMF forecast was released in April.
The International Monetary Fund’s June report lowered the US growth forecast for 2017 and 2018 to 2.1 percent from 2.3 percent and 2.5 percent respectively three months ago.
The IMF forecast slightly stronger growth in the euro area in 2017, 1.9 percent, up 0.2 percentage points from Nissan.
For the next year, the IMF said growth in the single currency area would rise slightly to 1.7 percent, up 0.1 percentage points from expectations three months ago. Expectations of growth, slowdown and reduction Fund growth forecasts in Britain 0.3 percentage points to 1. 7 percent, down weaker than expected in the first quarter and keeping growth forecasts for the year ahead 2018 unchanged at 1.5 percent.
For China, the fund expected stronger growth of 6.7 percent in 2017, 0.1 percentage points higher than the forecast in April. But it will slow in 2018 to 6.4 percent, but it is 0.2 percentage points higher than Nissan’s forecast based on expectations that Beijing will maintain a high level of public investment. Middle East economy Economic growth in the Middle East and North Africa is slowing down this year, while growth in Saudi Arabia is expected to fall to around zero.
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Kaperoni (Dinar Guru) – Article: “Governor of the Central Bank of Iraq inspected the headquarters of the International Development Bank” They clearly seem to be getting ready for international banking!
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RayRen98 (Dinar Guru) – The CBI talked about economic reforms in the next few days, and said that they would lose IMF support if they didn’t get it done! We haven’t had confirmation of lower denominations. IT was said that the supplementary budget had to be passed first, and we understand that when it is passed, the rest will appear in the next few days. Over the weekend, we were told that the budget was approved and it should show up in the Gazette on Wednesday. Iraq has a meeting …1. August with the World Bank about their 580 billion dollar loan, and reforms must be in place before that time. The CBI has submitted their paperwork to the World Bank, and I guess we are waiting for the IMF and World Bank to sign off on it. So we are looking for this to unfold prior to August 1, or on August 1. We’re feeling pretty good about the 1. August, or before, unless something unforeseen happens. It looks like we are at the end of this ride, based on the information.
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Opportunities are coming
Economists, businessmen and businessmen consider that the next phase of the richest investment opportunities that the international companies are looking for in relation to the construction and reconstruction of Iraq is the same, but it is natural that the requirements of achieving this goal require considerable funds to absorb its implementation. Because it has huge money, modern technology and the required benefit, but there are challenges and outstanding effects that hinder the entry of these companies with large sums of money. What is required for this challenge?
That Iraq’s need for funds is greater than we imagine to cover the reconstruction and reconstruction due to the infrastructure suffered from the total destruction and strategic projects of disruption and decline.
Therefore, the Iraqi banking sector in general has rich opportunities to contribute to the implementation of these projects in various ways through funding, partnership or
direct implementation .
But since the capital of private banks is weak compared to the requirements of financing construction and reconstruction, what is the solution to this challenge?
In a press interview with the banking expert Faisal Al-Hims, I asked him about his evaluation of banking performance. He said: “Let’s evaluate now. Let the question be what is required of the banking sector in the next stage .”
Said: The right way for banks to provide the requirements of the next phase is the integration of banking to raise the amount of funds capable of meeting the requirements of the executing companies .
And should be aware of the banks to the seriousness of dependence on the only product is the currency window, which may end its mission in the next stage, what will private banks do then?
Then it is now necessary to think about looking for a profitable and successful investment that can not be achieved without
banking integration .
Read more: http://www.dinarupdates.com/showthread.php?52452-Opportunities-are-coming-Economy-News-_-Baghdad
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Dinar Updates – Conference Call – with BGG & Company – July 27th, 8:00 PM CST Phone # 641-715-3640 PIN# 528733
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Post RV Checklist (it’s getting to be that time!! Listen up!!)
Dos and Don’ts of Windfall Wealth:
Treat it like a PowerBall win
– Tell no one, not even family. If you must talk, do so with one who is already in the know.
– Don’t run out & buy new “stuff”. People notice.
– Get an unpublished number and give it out very sparingly.
– Get a tax accountant you can trust to make sure the IRS is satisfied (Certified Opinion is something to look into) and pursue asset protection…
Read Complete List: http://www.dinarupdates.com/showthread.php?18519-The-Post-RV-Checklist-and-Flashback-documents&p=128477#post128477
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Keywords: the next stage will witness economic victories
Through the trend towards construction and reconstruction of Baghdad / Hussein after Iraq has proved to the world enraptured images and values of the human and moral waiting to prove an economic victory over the construction and reconstruction during the next phase, and that the new role requires concerted efforts combined to support reconstruction, which should banks be the cornerstone in this matter and doing very well through their sophisticated technology.
These words were Governor of the Central Bank and the Association of Banks during the ceremony organized by the International Islamic Bank on the occasion of victory over the “Daesh” terrorist and the granting of a certificate of ISO International Bank , which is the financial success of our sector. Page task Central Bank Governor Dr. Ali Keywords said that Iraq has proved the finest images triumphs of the world and move human values before the weapon , and so was the pride in the battle that will retain its history, pointing out that the new role is to address the building and reconstruction and succeed in this page task.
We cherish that Iraq has the power and energy that will enable the country to economic advancement, and in the financial sector , we note the progress and innovation, urging young people to be more distinctive and characterize their ability to capture sophisticated information, asking the banking sector to be the first among the country ‘s institutions in the use of advanced technology, and must speed in the use of technologies.
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Iraqi private banks association: We seek to open up prospects for cooperation with foreign and US banks are particularly
The Minister of Economic Affairs at the US Embassy Larry Mimut on Wednesday, the banking sector , the most important one of the main reasons for the development of the Iraqi economy, and we will work with those who support it to develop, as Iraqi banks are encouraged to open relations with the US private banks association, and at the time indicates the International Development Bank, that many of the Iraqi private banks in compliance with international standards, and is ready to open accounts with banks in foreign correspondence because of its unique cadre of integrated services, has accused the Bank of Baghdad administration, government banks acquired the banking business in Iraq because of policies The government supported the banking sector account.
This was during a panel discussion held by the Iraqi Association of private banks at its headquarters included both the representative of the Central Bank of Mazen morning and the representative of the Union of Arab Banks Khawla al – Asadi and a member of the Committee on Economy Parliamentary Mahdi Al – Hafiz and managers of private and government banks and heads of branches of Arab and foreign banks operating in Iraq with the Minister Plenipotentiary for Economic Affairs Embassy American Larry Mimut, in addition to the representative of the US Treasury in Iraq, with the aim of opening a new page of relations with foreign banks, particularly US banks.
The Iraqi Association of private banks in a statement after the meeting got (range) , a copy of ‘The aim of this dialogue session is to open a new page of relations with foreign and specifically with US banks banks’, where he formed a committee chaired by the representative of the Central Bank, as agreed the formation of a delegation comprising government and private banks to visit the United States and establish strong relationships with correspondent banks and the US specifically. ‘
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Kaperoni (Dinar Guru) – Article: “Central announces solutions to avoid a shortage of dollar “deviation” in the price of holidays” They should have been doing this all along. Taking days off allows for the spread to increase due to a shortage. I would guess the IMF had a hand in this to get them to start attempting to get in compliance…and the CBI trying to minimize losses by only holding auctions on a schedule. But the reality is the fix is not to conserve dollars, it is to weed out the corruption.
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Map: Tal Afar in the sight of Iraqi forces
On Wednesday, the Military Information Cell published a new map of the province of Nineveh, showing the remains of Daish in Tal Afar district.
The map shows the black areas controlled by Ta’ash, which are part of Tal Afar, green areas showing Iraqi forces’ control, and red areas that are considered as clash zones.
On Monday (July 10th), the prime minister of the armed forces, General Haider al-Abadi, announced the lifting of the flag of victory in Mosul and its liberation from the terrorist.
Read more: http://www.dinarupdates.com/showthread.php?52257-Map-Tal-Afar-in-the-sight-of-Iraqi-forces
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Frank26 (Dinar Guru) – [Do you know when the MasterCard message was added to the Rafidain bank website?] YESTERDAY. [Did they initiate the RV process on Friday or Saturday?] NANO SECONDS AFTER MOSUL. [how will the [RV] launch be revealed?] ONLY BY THE CBI POSTING THE NEW RATE NOTHING ELSE COUNTS. [IYO, Does Iraq have the capacity and capability to withhold from posting a new trade-able rate on the CBI W/S (if they choose to), for an agreed or negotiated period of time?] YES! [When do you expect the rate to change?] IMO THIS YEAR. IMO EVERY SECOND HAS POTENTIAL NOW.
Read more: http://www.dinarupdates.com/observer/
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Islandg1211 (Dinar Guru) – Eight months ago, I posted that we would need to see in this order before the RV…the following:
1) Mosul Liberated, Announcement by Abadi, and a Celebration. Done.
2) Agreement with Kurds, including oil and territory settlement, then finally the HCL will be in position to be passed by the GOI. (Kurds, including Barzani and the oil minister from Baghdad meet today…) Getting Done.
3) CBI re-educating citizens on the deletion if the three zeroes (we are seeing the payments in country with e-dinars, CBI website upgraded to BIS), and finally
4) Iraq being compliant with Article VIII with the IMF and 5 – UN lifting sanctions and the RV.
The IMF is meeting with Iraq in DC this week. The UN came out a couple of days ago and told Iraq they need to be Article VIII compliant/RV. The lynchpin to the RV, now that Mosul has been declared liberated by Abadi, the Kurds and Baghdad finalizing the HCL agreement. Barzani wants independence, and this agreement is going to have to allow for that contingency in order to get him to sign off on it. [post 1 of 2….stay tuned]
Read more: http://www.dinarupdates.com/observer
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Delta (Dinar Guru) – …the CBI has to move forward. The media … just like we predicted … as soon as they get Mosul … speed of light. Right away the media has been jumping the gun on talking about the economy, etc. ..the CBI…we’ve known since January they been wanting to pull the trigger. The next 24-48 hours is going to be very interesting.
Read more: http://www.dinarupdates.com/observer
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Central Economic and victory
Dr.. On behalf of the Patriarchs In his comment exhibition on the paper presented by the Governor of the Central Bank within a seminar held in Baghdad, Prime Minister for Financial Affairs Acanutormzar adviser Mohammed Saleh he said that the central bank contributed to the victory over Daesh through its success in achieving financial and monetary stability in the country during the period of military confrontation and thus maintain the level standard of living of the citizen, as well as it lent the government (indirectly) more than twenty trillion dinars.
He added adviser said the central bank had two choices : the first is to maintain internal independence towards the government finances and the failure to provide any financing to the government through the secondary market, which could have created a major financial crisis , and the second option to sacrifice its independence in order to maintain the stability of the financial situation and not to collapse, has Central preferred the second option in order to achieve stability.
Although this is still some singing charges for central without taking into account the state of war that call for providing the most important on important, some of them wonder about the central refusal to provide funding to the previous government, simply I think that the previous government requested funding has owned a financial surplus and a far cry between the two cases and, by contrast to imagine what it could be the case if the government was unable to pay the employees ‘ salaries?!.
Some say that the government withdrew from the bank reserve, and to clarify say: that the central reserve of foreign currency is not the government reserves last because to be the Ministry of Finance, as the government did not withdraw from the central reserve and it is permissible, and the central reserve changes linked to the first two factors is demand on the dollar , which is derived from the demand for imported goods and services generated by public spending.
The second issue is presented dollar (sold from the Ministry of Finance to the Central to buy the dinar), depending on the dollar revenues received by the government from oil which are affected by the quantity and price and when it drops one or both decreasing size of the reserve, and therefore the reserve is linked to public finances of the state.
Here we must recognize the central successfully during the crisis in maintaining the size of the reserve in accordance with the internationally accepted standards as well as the installation of financial stability contributed to the achievement of economic victory.
Read more: http://www.dinarupdates.com/showthread.php?52241-Central-Economic-and-victory
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Finance confirms inclusion of all ministries and government advances
BAGHDAD / … denied the Ministry of Finance, on Tuesday, the exception of some ministries of advances launched by government banks, while confirming that the advances launched by banks to be inclusive of all ministries, without exception.
The director of the angel department and the public sector in the budget department in the ministry Kawthar Abdul Ilah’s “Eye of Iraq News”, that “there is no exception to some of the ministries of advances launched by government banks,” noting that “all the news that talked about the presence of Estinaat is news completely untrue. ”
She explained Abdul Ilah, said that “advances launched by banks to be inclusive of all ministries, without exception,” he said, adding that “the Ministry of Finance and clear instructions in this regard.”
The pages in some social networking sites have talked about the exception of some ministries of advances launched by government banks due to the reluctance of employees of those ministries to pay the loans and advances granted to them.
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Iraq contracts with a global company to determine the extent of damage in liberated cities
Najeeba Najeeb, a member of the Committee on Economy and Investment Parliamentary, revealed Tuesday, the contract of the Fund reconstruction of the affected areas with a global company to limit the damage suffered in the liberated areas, noting that what knows the talk of damage and destruction just expectations.
Najib said in a press interview that there is no real and clear number indicating the extent of the devastation and devastation of the liberated cities, pointing out that a global company will take care of this after the contract of reconstruction fund of the affected areas.
Najib added that the cities of Iraq that have been subjected to terrorist operations need international support, and these funds are not given without the existence of documents and accurate evidence, “indicating that” the work of the company is to limit the amount of damage and destruction in those cities.
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After Mosul’s full liberation Iraq’s Abadi visits Nineveh Ops Command
Iraqi PM Haider Abadi has visited headquarters of Nineveh Operations Command and met with military commanders.
This comes after the city of Mosul had been declared fully liberated from ISIS terrorists on Sunday.
Abadi was due to give a victory speech on Sunday. But the speech was delayed for unknown reasons.
The city fell to ISIS in June 2014 amid collusion from former PM Nuri al-Maliki.
Iraqi army, supported by US-led international coalition, has launched an offensive code-named ‘We Are Coming, Nineveh’ to oust ISIS terrorists from the city.
Iran-allied sectarian militias, known as IMIS, gave support to Iraqi forces.
But the Iran-backed militias have committed atrocities against civilians, particularly the Sunnis.
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Phillyman (Dinar Guru) – [Once they finally clear ISIS wonder what the next obstacle is gonna be before we see a change in the rate…] …Even though they clear IS out of Mosul they are still in many other areas of Iraq. Will it stop the changes we are looking for from moving forward? Violence has permeated the region for centuries. [Guru] Breitling says the Sunnis will always hate the Shia but that it will not impact this reform. There seem to be too many countries/businesses pouring assets into Iraq to think it won’t turn around soon but of course time lines have brought so much frustration to this investment.
Read more: http://www.dinarupdates.com/observer/
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Adam Montana (Dinar Guru) – [Could Iraq state that only currency handed in to Iraq with-in its borders be given the preferential rate to start with? Please don’t think this is somehow an in country RV question I am asking as we know that rumor is totally bunk. Just thinking they may want to control the influx of currency to begin with is what I am getting at in a nutshell I guess.] I think that what you are describing is still an in-country RV, with a twist that the in-country part is temporary. If that’s what you are asking, then yes – it is possible. I don’t think it’s likely, but it is possible.
Read more: http://www.dinarupdates.com/observer
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BGG (Dinar Guru) – …I half way didn’t expect them to do this..but folks this is real. They are going to turn over the last bit of whatever is remaining in those funds…the food for oil program to Iraq and they are recognizing them as a country. They are not talking about letting them out of Chapter VII and it’s not even under chapter VII. This is Chapter VII charter. It’s a protection program. Looks like to me they had the meeting in 3 minutes and they put their rubber stamp on it and it’s over. It’s not the end of the security file…it’s the end of that particular program. There’s one more log on the fire. [post 2 of 2]
Read more: http://www.dinarupdates.com/observer/
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“Flash Cast LIVE” – Tuesday (the 21st) w/BGG
Click here for Video Replay
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Kaperoni (Dinar Guru) – “CBI website has a new look!” This is a good sign. I know it’s easy to just assume they are remodeling there website..but I think its much more. With all the speculation that the banking system must open up to perpetuate international activities to support global investment, this new website to me is much more polished, professional and institutional. We could be getting closer.
Read more: http://www.dinarupdates.com/observer/
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Chattels (Dinar Guru) – “CBI website has a new look!” “H.E Mr. Ali Muhsin Ismail / Acting Governor and Head of the Executive Board” I believe that the reference to Ismail as the “acting governor” is a change.
Read more: http://www.dinarupdates.com/observer/
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https://www.facebook.com/groups/571383766355188/
(go here and ask to join… then add some Dinar Friends!!)
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Iraqi Dinar/Dollar auction 06-21-17 (most recent listing)
Currency Auctions Announcement No. 3470
This daily currency auction was held in the Central Bank of Iraq on the 06-21-2017
| DETAILS | NOTES |
| Number of banks | 39 |
| Number of remittance companies | 10 |
| Amount sold at auction price (US$) | 159,617,756 |
| Amount purchased at Auction price (US$) | —– |
| Total offers for buying (US$) | 159,617,756 |
| Total offers for selling (US$) | —– |
Read More: http://www.dinarupdates.com/observer/
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| CURRENCY | CODE | SELL | BUY |
| US dollar | USD | 1184.000 | 1182.000 |
| Euro | EUR | 1325.962 | 1325.299 |
| British pound | GBP | 1515.757 | 1514.999 |
| Canadian dollar | CAD | 895.884 | 895.436 |
| Swiss franc | CHF | 1219.613 | 1219.003 |
| Swedish krona | SEK | 135.962 | 135.894 |
| Norwegian krone | NOK | 140.286 | 140.216 |
| Danish krone | DKK | 178.289 | 178.200 |
| Japanese yen | JPY | 10.663 | 10.657 |
| Special Drawing Rights |
SDR | 1636.868 | 1636.050 |
