Hutch says(6:32 PM):
HELLOOOOOO EVERYONE AND WELCOME TO A VERY SPECIAL NEWSTIME !


rcookie says to mudcat(6:32 PM):
WOW!!..


Hutch says(6:35 PM):
A SPECIAL THANKS FOR ALL ATTENDING !!!!!!
NEWSTIME RULES APPLY : PLEASE REMEMBER TO PUT UP A ? WHEN ASKING A QUESTION AND THEN WAIT FOR A RESPONSE (PLEASE HAVE YOUR QUESTION READY) OR RESPOND WHEN AN “ANY COMMENTS” IS PUT UP. IT MAKES THE COPIERS JOB EASIER. THANKS !!

HELLO EVERYONE AND WELCOME TO NEWSTIME AND WELCOME MR WHITE AND RCOOKIE TO THIS VERY SPECIAL FRIDAY NIGHT NEWSTIME
!

wilson6060 says(6:36 PM):
Thanks to everyone....

Hutch says(6:36 PM):
WHAT DO YOU HAVE FOR US TONIGHT ????


rcookie says(6:38 PM):
GOOD FRIDAY EVENING EVERYONE....THANKS FOR BEING WITH US FOR NEWSTIME....WE ARE GOING TO START OFF WITH SOME NEWS FROM TODAY....AND THEN FINISH WITH A SPECIAL PRESENTATION AND DISCUSSION OF THE IMF SBA PROGRAM AND HOPEFULLY SHED SOME LIGHT ON WHAT IT IS AND MORE IMPORTANTLY WHAT IT IS NOT......SHOULD BE FUN....WE WILL THEN ANSWER ALL OF YOUR QUESTIONS ABOUT ....


Hutch says(6:38 PM):
SOUNDS GREAT !


rcookie says(6:38 PM):
SO I THOUGHT STARTING OFF WITH SOME MORE NEWS OF PROGRESS ON IRAQS STEAMROLLING MOVE TO PRIVATE SECTOR...INTERNATIONAL INVESTMENT AND PARTNERSHIP AND QUEST TO ESTABLISH DOMESTIC PRODUCTION AND MOVE AWAY FROM IMPORTS TO SELF SUSTAINABILITY AND EXPORTING....


jimplants says(6:39 PM):
excellent statement

wmawhite says(6:39 PM):
come back rcookie


Hutch says to wmawhite(6:41 PM):
D


rcookie says(6:41 PM):
MINERALS & AGRICULTURE MINISTRIES ANNOUNCES THE RESTART AFTER REABILITATION & RESTRUCTURE OF “UREA” FERTILIZER PRODUCTION PLANT AT 1,000 TONS PER DAY IN BASRA THROUGH JICA FUNDING WITH GOAL OF 2000 TONS PER DAY...

PERFECT EXAMPLE OF 1 OF THE 192 SOE’S THAT WAS EVALUATED FOR FEASILBILITY...RESTRUCTURED AND NOW BEING LAUNCHED AS NEW ENTITY...

WE CAN ADD THIS “WHITE GOLD” UREA FERILIZER TO THE GROWING LIST OF NATURAL RESOUCES REACHING THE EXPORT LEVELS IN IRAQ...ADDED TO..WHEAT...CONCRETE..VEGETABLE OIL...LNG..OIL CONDENSATE...SULPHUR AND PHOSPHATES...AND REMEMBER THEY WERE TARGETING 10 PRODUCTS FOR 2016..

AND JIM.......WHERE IS THIS PROJECT LOCATED????????????


wmawhite says to rcookie(6:43 PM):
This is like; WOW!!!!

Brasa

Barsa

wmawhite says to rcookie(6:43 PM):
?


rcookie says to wmawhite(6:43 PM):
YES SIR!!!!!!.....BOULYAAAAAAH!!!

YES SIR


jimplants says(6:44 PM):
basra

wmawhite says to rcookie(6:44 PM):
Nothing...forgot the (?) after Basra


jimplants says(6:44 PM):
cant type

Hutch says(6:44 PM):
I LIKE IT WHEN THE BOULYAAAH'S COME OUT !!!


wmawhite says to jimplants(6:44 PM):
Who needs no stinking typing??????


cjquade54 says to Hutch(6:44 PM):
lol

rcookie says(6:45 PM):
JUST REMEMBER THIS "WJITE GOLD" FERTILIZER IS AN EXTREMELY HIGH NITROGEN FERTILIZER THAT THEY WILL BE EXPORTING VERY SOON!!!!!...


jimplants says(6:45 PM):
ha

rcookie says to Hutch(6:46 PM):
(y)


Hutch says(6:46 PM):
GREAT NEWS !!!

ANY QUESTIONS OR COMMENTS ?


rcookie says to Hutch(6:47 PM):
KEEP THOSE EXPORTS ROLLIN...ROLLIN..


Hutch says(6:47 PM):
BAGHDAD !

LOL


rcookie says(6:47 PM):
BASRA!!


Hutch says(6:47 PM):
WHERE IS EVERYONE !!

YEP BASRA !!!!!


wmawhite says to Hutch(6:48 PM):
crickets, crickets, crickets.........


jimplants says(6:48 PM):
basra best 5 letter word out there

wmawhite says to Hutch(6:48 PM):
checking their pulses.


Hutch says to jimplants(6:48 PM):
YES IT IS


rcookie says(6:48 PM):
SO AT LAST COUNT...LOOKS LIKE THEY ARE AT 8 OF THERE GOAL OF 10....


Hutch says to wmawhite(6:48 PM):
PASSED OUT !


subgirl says to rcookie(6:48 PM):
(y)WOW!

NWBeauty says(6:49 PM):
Basra is a beacon of hope if anyone has seen the renderings expected at this port ... the next Dubai !!

jeffjane says(6:49 PM):
why ask questions when we all know we are close

rcookie says(6:49 PM):
OK....IF THAT ONE DIDNT FIT....TRY THIS ONE ON.....


wmawhite says to rcookie(6:49 PM):
how funny is it that Basra were the ones crying the most 6 months ago.......

cjquade54 says(6:49 PM):
?

Hutch says to jeffjane(6:49 PM):
STILL GOOD TO KNOW AS MUCH AS POSSIBLE, GREAT POINT !

Hutch says to cjquade54(6:50 PM):
GO


cjquade54 says(6:50 PM):
why is Basra so important?

wmawhite says to cjquade54(6:51 PM):
hube port facility on the Persian Gulf and.........cross road to Iran and the next "silk road."


wmawhite says to cjquade54(6:51 PM):
huge


cjquade54 says(6:51 PM):
yes indeed ty

rcookie says(6:51 PM):
AND LARGEST CONTRIBUTOR TO GDP


coco1 says(6:51 PM):
?

flint says(6:51 PM):
?

jeffjane says to wmawhite(6:51 PM):
no _ HUGE

NWBeauty says(6:51 PM):
I wish I could paste in those photos of Basra renderings of future city scape. Knock your eyes out !!

jimplants says(6:51 PM):
and home for the world bank in iraq

wmawhite says to jeffjane(6:51 PM):
ty


Hutch says to coco1(6:51 PM):
GO


rcookie says(6:52 PM):
WHICH IS WHY THEY ARE GETTING HUGELY BIASED PORTION OF NATIONAL DEVELOPMENT FUNDS....AND ELECTRICITY GRID ALLOCATION...

GREAT QUESTION.....


coco1 says(6:52 PM):
you mentioned 8 out of a goal of ten. is this an imf requirement?

Hutch says to rcookie(6:52 PM):
coco1: you mentioned 8 out of a goal of ten. is this an imf requirement?

Hutch says to flint(6:52 PM):
HANG ON


rcookie says(6:53 PM):
INDIRECTLY...AS THE IMF WANTS THEM DIVERSIFIED OFF OF OIL...BUT THIS IS MORE OF THERE 2016 TARGET ININTIATIVE FOR EXPORT GOALS...


kukui says(6:53 PM):
?

coco1 says(6:54 PM):
good to see in any event! thanks rc!!

Hutch says to flint(6:54 PM):
GO


flint says(6:54 PM):
When does Faw open for business?

rcookie says to coco1(6:54 PM):
y


rcookie says(6:55 PM):
IN PHASES BUT 2017..GENERALLY....AND REMEMBER WHEN THE INDUSTRIAL CITIES ON OUTSKIRTS WHICH IS PART OF PROJECT AND RAIL SYAYTEM....WILL GENERATE MORE JOBS AND REVENUES THAN CURRENT OIL SECTOR NUMBERS!!!...


flint says(6:56 PM):
ty

rcookie says to flint(6:56 PM):
YVW


Hutch says(6:57 PM):
ALL GREAT NEWS !!! WHATS NEXT RCOOKIE ?

rcookie says(6:57 PM):
OK....ALL....READ SLOWLY!!!...THE DETAILS ARE AWESOME!!...

Meyssan sign a contract with the Indian company Yuan iron plant
June 24, 2016 2.

Missan, announced on Friday, signing a contract with the Indian company Yuan iron and steel plant in the industrial city of Amarah.

Conservative statement said, our agency alhi newsletter, that "rebounds by the Governor on Dawie required with the Ministry of finance and the Directorate General real estate land contract concluded with the Indian company that you intend to implement the project to create iron and steel plant in the industrial city on the 350-acre area.

And, that "the factory will contain three production lines and production capacity 15000 tons per month," adding that "this project will contribute to moving the wheel industry and run the hands from sons of the province."

And he called on the Governor of Maysan Dawie needed, according to the statement, the foreign companies to invest in the province and especially in the industrial sector in the industrial city that lies on an area of four thousand acres to support industry and achieve a qualitative leap in industrial field in maintenance and operation of hands from the sons of Maysan governorate.

LINK

Read More :http://www.dinarupdates.com/showthre...ron-plant-6-24


rcookie says(6:58 PM):
SO... MISSAN PROVINCE ANNOUNCES THE SIGNING OF CONTRACT WITH INDIAN COMPANY YUAN IRON IN THE INDUSTRIAL CITY OF ANARAH AS PART OF 350 ACRE INDUSTRIAL SITE WITH 3 PRODUCTION LINES AND 15,000 TONS PER MONTH PRODUCTION CAPACITY AS PART OF A 4,000 ACRE INDUSTRIAL CITY ,WITH MISSAN GOVERNOR DAWI CALLING FOR FOREIGN INVESTMENT TO THE PROVINCE INDUSTRIAL FIELD..

PLEASE NOTE SOME OF THE DETAILS OF THIS ENORMOUS PROJECT WHICH INCLUDE WORK BY FINANCE MINISTRY..PROVINCIAL GOV’T & DIR GEN OF REAL ESTATE FOR LAND CONTRACT FOR LAND TRACT OF THIS PROJECT...


wmawhite says to rcookie(6:59 PM):
comment.....


jimplants says(6:59 PM):
?

rcookie says to wmawhite(6:59 PM):
GO MR WHITE


wmawhite says to rcookie(6:59 PM):
This is a steel production facility? correct?


Hutch says to jimplants(7:00 PM):
HOLD ONE SEC PLEASE


rcookie says to wmawhite(7:00 PM):
YES SIR

How are they going to product this material?

IMO,....and I have alot of experience in this....

This steel will be producted via recycled material......

all of the junk steel from the wars......

all of it is recycleable into rebar angle iron

etc.

This is a huge deal
:
finished


rcookie says to wmawhite(7:02 PM):
GREAT POINT!!.....AND THERE WAS ALSO THE ANNOUNCEMENT OF A HUGE RECYCLABLES TO ENERGY PROJECT IN THE SAE PROVINCE LAST WEEK...


Hutch says(7:02 PM):
WOW, PRETTY SMART, MAKE USE OF WHATS THERE !

Hutch says to jimplants(7:02 PM):
GO


jimplants says(7:02 PM):
i read that but could not find a start date i am looking for START DATES

rcookie says to wmawhite(7:02 PM):
WOW!!!....GREAT STUFF...

wmawhite says to rcookie(7:03 PM):
A few folks are going to make a bundle on that project

rcookie says to jimplants(7:04 PM):
IT SAID LATE 2017 BUT NO SPECIFIC DATE OF LAUNCH...

jtank says(7:04 PM):
Goes well w the concrete production--

jimplants says(7:04 PM):
thanks

rcookie says to wmawhite(7:04 PM):
AGREED....AND IF JIM WOULD JUST GIVE US THE INSIDE TRACK TO THE FUND...


Hutch says to jimplants(7:04 PM):
UH OH !


jimplants says(7:04 PM):
after i get a date

jimplants says(7:05 PM):
time stamp

Hutch says(7:05 PM):
EXCELLENT NEWS !!! ANY QUESTIONS ?


rcookie says to jimplants(7:05 PM):
JIM....THAT IS A HUGE POINT....HANG ON 1 SEC


Hutch says(7:05 PM):
OR COMMENTS ?


kukui says(7:05 PM):
?

rcookie says(7:07 PM):
1 OF THE BIGGEST CHANGES TO THE HANDLING AND EXECUTION OF DEVELOPMENT PROJECTS IS THE IMF MANDATED PIM AND IDMS ELECTRONIC PROCESSING WE HAVE JUST READ SO MUCH ABOUT AND PART OF IMF ;OI...


Hutch says to kukui(7:07 PM):
HANG ON ONE SEC PLEASE


rcookie says(7:08 PM):
THIS IS A METICULOUS DETAILED SPEC ACCOUNT OF THE PROJECT IN PHASES WITH REVIEW INTERVALS AND INCENTIVES FOR CONTARCTORS FOR EARLY COMPLETION....


Hutch says to kukui(7:08 PM):
GO


kukui says(7:08 PM):
have the new tax and tariff rates been implemented ? TY

Hutch says to dovi(7:09 PM):
HI DOVI, HANG ON ONE SEC PLEASE


rcookie says(7:09 PM):
THE 201 CUSTOMS AND TARIFFS THAT HAVE BEEN IMPLEMENTED AND COLLECTED AT ALL AVAILABLE AND ACCESSIBLE BORDER CROSSINGS SINCE JANUARY...AND MANDATED IN 2016 BUDGET LAW...

WHAT WE ARE WAITING ON IS THE ANNOUNCES UPWARD REVISION FOR SOME GOODS THAT WERE ORIGINALLY EXPECTED ON THE 15TH AND PUSHED TO 25TH....WHICH IS TOMORROW....SO WE SHALL SEE...

rcookie says(7:10 PM):
2010*


kukui says to rcookie(7:11 PM):
y)

Hutch says(7:11 PM):
ANY OTHER QUESTIONS BEFORE WE MOVE ON TO THE NEXT ?


flint says(7:12 PM):
?

Hutch says to flint(7:12 PM):
GO


flint says(7:12 PM):
Do you have any insight for us on the Alak question and answer interview?

Hutch says to flint(7:12 PM):
GREAT QUESTION !!!!!


rcookie says(7:13 PM):
LOOP MR WHITE AND I ARE GOING TO BRING THE INTERVIEW IN ITS ENTIRETY AND BREAK DOWN FOR EVERYONE....IT IS AN EPIC!!!...


flint says(7:13 PM):
nice!!!

Hutch says to flint(7:14 PM):
WORKIN ON IT !!! D


rcookie says(7:14 PM):
BUT FULL OF JUICY STUFF.....ADDITIONALLY THERE ARE SOME AMAZING PARALLELS TO ALAKS ANSWERS TO THE SAME QUESTIONS ASKED SHABIBI IN THE SHABS...ABADI...SALEH INTERVIEW....AMAZING!!!


flint says(7:15 PM):
looking forward to that

Hutch says(7:15 PM):
RCOOKIE AND MR WHITE ARE GOING TO NEED NEW PENCILS !!!!!


rcookie says(7:16 PM):
OK HERE WE GO...

Zaidi: Parliament will hold its sessions before the feast of the Federal Court and got to separate appeal at its

24-06-2016 01:27 PM

MP stressed full Zaidi National Alliance, that the House will resume its sessions after the end of the legislative recess scheduled before Eid al-Fitr.

Zaidi said that there will be sessions of the House of Representatives before the Eid, as the legislative recess will end on the first of next July, there will be a meeting of the Parliament

He added that there is a crisis has overshadowed the legislative institution of the Federal Court is capable of the season, and reached the finish in the appeal raised ', pointing out that the court will find next Tuesday path of the issue and resolve it about two sessions of Parliament, as the report of the Committee preparer will be presented on Sunday to the court.' in reference to the appeal raised Bgelsta Council meetings, the House of Representatives in the month of April. "

LINK

Read More :http://www.dinarupdates.com/showthre...l-Court-appeal

rcookie says(7:16 PM):
SO...NATIONAL ALLIANCE MP ZAIDI ANNOUNCES THE HOR WILL RESUME AT END OF LEGISLATIVE RECESS (JULY 1ST)BEFORE EID HOLIDAY....

AND OUTLINES THE FEDERAL COURT RULING ON 2 SESSIONS SUBMITTED SUNDAY BY COURT PREPARER... AND RULED ON TUESDAY...


wmawhite says to rcookie(7:17 PM):
this tuesday?


rcookie says(7:17 PM):
FOLKS THIS IS GOING TO GO DOWN IN THE NEXT 4 DAYS......


subgirl says to rcookie(7:17 PM):
AWESOME!!!WOW!

rcookie says(7:18 PM):
WITH THE DIRE NEED OF PARLIAMENT TO BE RE-ENGAGED TO GET VOTEING ON WHAT THE IMF WANTS DONE TO GET THE SBA LOANS...


Hutch says to rcookie(7:18 PM):
THATS RIGHT GET TO VOTING !!!!!!


wmawhite says to rcookie(7:18 PM):
No voting.........no loans........


rcookie says(7:19 PM):
PUBLIC FINANCIAL MANAGEMENT LAW....REVISED 2016 BUDGET LAW....CBI LAW....INVESTMENT LAW AMANDED....AND BANKING LAW....


Hutch says to wmawhite(7:19 PM):
NO TICKET ..... NO LAUNDRY !


rcookie says(7:19 PM):
NO SOUP FOR YOU!!!


Hutch says to rcookie(7:19 PM):
D


wmawhite says to Hutch(7:19 PM):
Are those Chinese or Arab laundries?


jimplants says(7:20 PM):
both

Hutch says to wmawhite(7:20 PM):
LEMME GET BACK TO YA ON THAT !


Hutch says(7:21 PM):
WOW SUCH EXCITING NEWS AND WE A SOOOO CLOSE TO IT ALL !

WE ARE SO CLOSE !


subgirl says to Hutch(7:22 PM):
(y) SO EXCITING!!!!!!

subgirl says to Hutch(7:22 PM):
I am PUMPED!!!! )

pacella says(7:22 PM):
?

rcookie says(7:23 PM):
OK LAST ONE AND WELL GET INTO SBA FOR EVERYONE@@


Hutch says to pacella(7:23 PM):
HI THERE PACELLA


Hutch says to pacella(7:23 PM):
GO


pacella says(7:23 PM):
SO THEY COME BACK ON THE 1ST AND VOTE

Hutch says to rcookie(7:23 PM):
pacella: SO THEY COME BACK ON THE 1ST AND VOTE

JUST IN CASE


rcookie says(7:23 PM):
THATS WHAT THE MAN SAID....AND THATS NATIONAL ALLIANCE!!......


pacella says(7:23 PM):
YES

Hutch says to rcookie(7:24 PM):
I LIKE IT WHEN THE MAN SPEAKS !!1


Hutch says to pacella(7:24 PM):
GREAT QUESTION PACELLA !

Hutch says(7:24 PM):
OK BRING IT ON RCOOKIE


rcookie says(7:24 PM):
State of Law Coalition reveals next steps Abadi reform
Thu, 23 Jun 2016 21:48:02

MP for the coalition of state law, Jassim Mohammed Jaafar, for the reform plans of the Prime Minister Haider al-Abadi to be conducted after the Eid al-Fitr, while noting that he will work to open up the prospects for investment and solving economic and financial problems in the country.

Jafar said that al-Abadi busy now bodies independent ministerial amendment, adding that he is feeling the pulse of the existing political blocs .. He pointed out that al-Abadi will consider staying on the same government or resort to the overall change if desired most of the members of parliament to do so without resorting to quotas or may change some leaders of the blocs in the government figures the second and third line.

LINK

Read More :http://www.dinarupdates.com/showthre...di-reform-6-24

rcookie says(7:25 PM):
SO...STATE OF LAW MP JAAFAR ASSERTS THAT THE ABADI REFORM PLAN WILL BE IMPLEMENTED AFTER EID AND NOTED...”HE WILL WORK TO OPEN THE PROSPECTS FOR INVESTMENT AND SOLVING THE ECONOMIC & FINANCIAL PROBLEMS IN THE COUNTRY”...

ABADI CURRENTLY WORKING WITH INDEPENDENT MINISTERIAL BODIES AND HAS PULSE OF THE POLITICAL BLOCS TOWARD DIRECTION OF GOV’T COMPOSITION...

”HE WILL WORK TO OPEN THE PROSPECTS FOR INVESTMENT AND SOLVING THE ECONOMIC & FINANCIAL PROBLEMS IN THE COUNTRY”...

NUF SAID.......LOL


wmawhite says to rcookie(7:26 PM):
HAS PULSE OF THE POLITICAL BLOCS TOWARD DIRECTION OF GOV’T COMPOSITION...

Abadi knows what the blocs wants in order for them to support him.


daytrader says to Hutch(7:26 PM):
Comment

Hutch says to daytrader(7:26 PM):
GO DAY !


daytrader says to Hutch(7:27 PM):
And he's going deep into these orgs if he's going to the second and third line positions

wmawhite says to daytrader(7:27 PM):
Good point


rcookie says(7:27 PM):
AND THE GOV'T COMPOSITION IS PART & PARCEL TO THE INSTITUTIONAL "STABILITY" THAT ALAK JUST SPOKE OF IN HIS INTERVIEW CONCERNING DELETE THE ZEROES PROJECT!!..


wmawhite says to rcookie(7:27 PM):
YOU THE MAN!!!!

point on


rcookie says to daytrader(7:28 PM):
GREAT POINT!!....

daytrader says to rcookie(7:28 PM):
All coming together quickly...Run Forest Run.

rcookie says to daytrader(7:29 PM):
AGREED ...AND AT LIGHTNING SPEED!!..

OK ANY OTHER ?'S....


wmawhite says to rcookie(7:29 PM):
do you get the feeling that this may have been planned and is a very thoughful process?


Tex says to wmawhite(7:30 PM):
y)

daytrader says to wmawhite(7:30 PM):
Ya think!!!

rcookie says(7:30 PM):
JUST A LITTLE......NAAAAAAH A WHOLE LOT!!


wmawhite says to rcookie(7:30 PM):
rhetorical


subgirl says to wmawhite(7:30 PM):
y)YES!!!

wmawhite says to rcookie(7:30 PM):
AGREED


wmawhite says to subgirl(7:31 PM):
y)

wmawhite says(7:31 PM):
Lets do alak


Hutch says(7:31 PM):
WONDERFUL NEWS ! ANY QUESTIONS OR COMMENTS ?


rcookie says(7:32 PM):
OK.......THERE HAVE BEEEN A LOT OF QUESTIONS....DISCUSSION AND RUMORS CONCERNING IRAQ POSITIONING IN EARNING AND RECEIVING ACCESS TO THEIR IMF SBA LOAN UMBRELLA....OFF OF THEIR IMPECCABLE PERFORMANCE IN THEIR SMP (STAFF MONITORED PROGRAM) THAT STARTED IN JAN 2015...AND RUNS THROUGH DEC 2016...

SO HERE WE GO..

IMF Stand-By Arrangement

In an economic crisis, countries often need financing to help them overcome their balance of payments problems. Since its creation in June 1952, the IMF’s Stand-By Arrangement (SBA) has been used time and again by member countries, it is the IMF’s workhorse lending instrument for emerging and advanced market countries. The SBA was upgraded in 2009 along with the Fund’s broader toolkit to be more flexible and responsive to member countries’ needs. Conditions were streamlined and simplified, and more funds were made available up front, as borrowing limits were doubled in response to the global financial crisis. These limits were increased further in 2016. The new framework also enables broader high-access borrowing on a precautionary basis.

IRAQ HAS UTILIZED THIS OPTION 4 TIMES SINCE 2005 AND 1 RFI (RAPID FINANCING INSTRUMENT)...


Hutch says(7:35 PM):
ANY QUESTIONS OR COMMENTS SO FAR ?


wmawhite says(7:35 PM):
Comment


angus says(7:36 PM):
ok so what makes this time different?

Hutch says to wmawhite(7:36 PM):
YES SIR !


wmawhite says(7:36 PM):
so, was there achange in the value of the IQD those 4 times?


Hutch says to angus(7:36 PM):
RIGHT AFTER MR WHITE HANG ON


rcookie says(7:36 PM):
NO SIR...JUST PERFORMANCE


wmawhite says(7:36 PM):
So, the SBA loan arrangements is a budget item?

Not a currency value CBI issue?


rcookie says(7:37 PM):
CORRECT....A BUDGET BRIDGING TOOL TO BE IMPLEMENTED AS NEEDED...

AND WE WILL EXPLAIN HOW AND WHY....


wmawhite says(7:37 PM):
So, the Budget is a GOI issue not a CBI issue?

I am finished


rcookie says(7:38 PM):
CORRECT...WHICH IS WHAT ALAK I SCREAMING ABOUT EVERY TIME HES INTERVIEWED


Hutch says to rcookie(7:38 PM):
angus: ok so what makes this time different?


rcookie says(7:39 PM):
THE CBI RESERVES ARE NOT THERE FOR A SAFTEY NET FOR A POORLY RUN AND MANAGED GOV'T...

HANG ON ANGUS HERE WE GO..

Lending tailored to member countries’ needs

The SBA framework allows the Fund to respond quickly to countries’ external financing needs, and to support policies designed to help them emerge from crisis and restore sustainable growth.

Eligibility.

All member countries facing external financing needs are eligible for SBAs subject to IMF policies. However, SBAs are more often used by middle income (and, more recently, advanced) member countries, since low-income countries have a range of concessional instruments tailored to their needs.

Duration.

The length of a SBA is flexible, and typically covers a period of 12–24 months, but no more than 36 months, consistent with addressing short-term balance of payments problems.

Borrowing terms.

Access to IMF financial resources under SBAs is guided by a member country’s need for financing, capacity to repay, and track record with use of IMF resources. Within these guidelines, the SBA provides flexibility in terms of amount and timing of the loan to help meet the needs of borrowing countries. These include:

Normal access. Following implementation of the 14th Review quotas in early 2016, borrowing limits were increased to give countries access of up to 145 percent of new quota for any 12-month period, and cumulative access over the life of the program of up to 435 percent of new quota, net of repayments.


rcookie says(7:42 PM):
Exceptional access.

The IMF can lend amounts above normal limits on a case-by-case basis under its Exceptional Access policy, which entails enhanced scrutiny by the Fund’s Executive Board. During the current global economic crisis, countries facing acute financing needs have been able to tap exceptional access SBAs.

Front-loaded access.

The new SBA framework provides increased flexibility to front-load funds when warranted by the strength of the country’s policies and the nature of its financing needs.

Rapid access.

Fund support under the SBA can be accelerated under the Fund’s Emergency Financing Mechanism, which enables rapid approval of IMF lending. This mechanism was utilized in several instances during the recent crisis.

THIS IS IMPORTANT...

Precautionary access.

The new SBA framework has expanded the range of high access precautionary arrangements (HAPAs), a type of insurance facility against very large potential financing needs. Precautionary arrangements are used when countries do not intend to draw on approved amounts, but retain the option to do so should they need it.

18 BILLION IS VERY LARGE FINANCING NEEDS....

OK......EVERYONE WITH ME.....

COME ON DU....


daytrader says to rcookie(7:45 PM):
Yep

Hutch says to rcookie(7:45 PM):
YEP SO FAR


Tex says to rcookie(7:45 PM):
y)

rcookie says(7:45 PM):
READ THIS...


subgirl says to rcookie(7:45 PM):
y)

david334 says(7:45 PM):
yes

coco1 says(7:45 PM):
yep

rcookie says(7:46 PM):
Fewer conditions, focus on objectives

When a country borrows from the IMF, it agrees to adjust its economic policies to overcome the problems that led it to seek funding in the first place. These commitments, including specific conditionality, are described in the member country’s letter of intent (which often includes memorandum of economic and financial policies).

pacella says(7:46 PM):
L) D

rcookie says(7:47 PM):
THAT IS THE MISSION STATEMENT OF THE LETTER OF INTENT.....WHWERE ALL OF THESE INITIATIVES AND MANDATES WE HAVE BEEN FOLLOWING EXIST....

Building on earlier efforts, the IMF has further reformed the conditions of its lending to focus on criteria that are measurable and observable:

MEASURABLE AND OBSERVABLE!!!!!!


Hutch says to rcookie(7:48 PM):
PERFORMANCE BASED ?


rcookie says(7:48 PM):
Quantitative conditions.

Member countries’ progress is monitored using quantitative program targets (quantitative performance criteria and indicative targets). Fund disbursements are conditional on the observance of quantitative performance criteria, unless the Executive Board decides to waive them. Examples include targets for international reserves and government deficits or borrowing, consistent with program goals.

rcookie says to Hutch(7:48 PM):
YES SIR AND RESULTS DRIVEN...


angus says(7:49 PM):
so this is you show me yours first.... so to speak

Hutch says to angus(7:49 PM):
I TRIED THAT WHEN I WAS YOUNG WITH THE GIRL NEXT DOOR .....

rcookie says to Hutch(7:49 PM):
WE HAVE POSTED THESE MANY TIMES IN THE PUBLIC FINANCIAL MANAGEMENT SECTION....THE BANKING SPERVISION SECTION AND THE PROGRAM MONITORING SECTION...


angus says(7:50 PM):
lol

puffdragon says(7:50 PM):
8-)

Tex says to Hutch(7:50 PM):
(lol)

Hutch says to subgirl(7:50 PM):
TRYING TO LIVEN THIS PLACE UP !!!


subgirl says to Hutch(7:50 PM):
lol

magnetlady says(7:50 PM):
Hutch, its newstime

clay01 says to Hutch(7:50 PM):
And how did that turn out for you......

Hutch says(7:51 PM):
YES MAM SORRY !


rcookie says to angus(7:51 PM):
THIS IS PUT YOUR BIG BOY PANTS ON AND COME AND PLAY WITH THE SERIOUS GLOBAL PLAYERS WITH SERIOUS RULES AND STANDARDS!!...


sassy says(7:52 PM):
rcookie sorry I have my big girl pants on tonight lol

rcookie says to angus(7:52 PM):
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(7:52 PM):
Iraq has outperformed any country in similar circumstances most of which were overwhelmed by the displine ansd detail required

rcookie says to angus(7:52 PM):
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.......

OK...AND LASTLY...

Lending terms

Repayment.

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.


david334 says(7:55 PM):
?

rcookie says(7:55 PM):
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.


Hutch says to david334(7:55 PM):
HANG ON ONE MIN PLEASE


rcookie says(7:56 PM):
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(7:56 PM):
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(7:59 PM):
THEY ARE MAXED OUT AT THE CURRENT SBA OF 18 BILLION ALONG WITH 1.7 BILLION THEY BORROWED LAST YEAR...

GO DAVID


Hutch says to rcookie(8:00 PM):
NOW THAT MAKES SENSE, THATS WHERE THE MONEY COMES FROM


david334 says(8:00 PM):
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(8:01 PM):
But thats a difficult prediction

rcookie says(8:01 PM):
CORRECT....AND AS WE HAVE BEEN STATING THIS IS NOT A 1 SIZE FITS ALL AGENCY ...MUCH LIKE THE WTO....


rcookie says(8:02 PM):
THESE SPECIFIC PROGRAMS ARE TAILORED AROUND THE COUNTRY'S NEEDS AND CIRCUMSTANCES....ON A CASES BY CASE BASIS..

rcookie says to wmawhite(8:02 PM):
MR WHITE ...DO YOU WANT TO COMMENT ...


david334 says(8:02 PM):
Success requires very closes ecurtiny as outcomes evolve

rcookie says to david334(8:03 PM):
AND THE SCRUTINY THEY HAVE BEEN UNDER IN MORPHING THIS NATION...CULTURE...AND ECONOMY SINCE 2004 IS STUNNING!!...


wmawhite says to rcookie(8:05 PM):
This another indication that the IMF (Article 8) is happy with Iraq


rcookie says to david334(8:05 PM):
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(8:05 PM):
love that!!!!

rcookie says to david334(8:06 PM):
TOTALLY AGREED...THEIR PERFORMANCE AND STATUS IS EXEMPLARY!!...


Hutch says to wmawhite(8:06 PM):
VERY TRUE !


wmawhite says to rcookie(8:06 PM):
comment


rcookie says to wmawhite(8:06 PM):
YES SIR...


Hutch says to wmawhite(8:06 PM):
YES PLEASE !


pacella says(8:06 PM):
TO BAD EVERYONE ELSE DONT SEE HOW GREAT THEY ARE DOING ONLY THE BOMBINGS BEEN REPORTED

wmawhite says to rcookie(8:07 PM):
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(8:07 PM):
WELL SPOKEN!!...


Tex says to wmawhite(8:08 PM):
Go Iraq....

angus says(8:08 PM):
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(8:08 PM):
yes absolutely

rcookie says(8:09 PM):
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(8:09 PM):
WILL DO !


rcookie says to angus(8:09 PM):
WOW ANGUS...SURE WILL!!


pacella says(8:09 PM):
HOW CLOSE ARE THEY GETTING INTO THE WTO

Hutch says to rcookie(8:09 PM):
IT CLEARS UP A BUNCH


subgirl says to rcookie(8:10 PM):
yes it does!!!

Hutch says to rcookie(8:10 PM):
WILL THEIR PERFORMANCE BE REVIEWED ?

OR WILL THEY BE GRADED SO TO SPEAK?


rcookie says to Hutch(8:10 PM):
GREAT QUESTION.......

OK...REALLY QUICK HERE...

IN ADDITION TO THE PERFORMANCE REVIEWS THAT IRAQ GOES THROUGH TOWARD THEIR SMP PERFORMANCE AND GOALS....

rcookie says(8:12 PM):
ANYONE REMEMBER WHAT OTHER REVIEW THEY PARTICIPATE IN AND THE INTERVAL...

HMMMMMMMM...


david334 says to rcookie(8:13 PM):
banking revisons

rcookie says(8:13 PM):
THINK ABOUT THIS DU...
.

Hutch says(8:13 PM):
GIMME A HINT .D


rcookie says(8:14 PM):
Article IV Consultation


daytrader says to rcookie(8:14 PM):
Quarterly, and MOU/LOI

coco1 says(8:14 PM):
i was going to say quarterly also

rcookie says(8:14 PM):
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 http://www.imf.org/external/pubs/cat...5532;Technical Assistance, 2005–15Department DateFAD February 2005April 2005November 2006December 2006May 2007March 2008August 2008March 2009October 2009May 2010March 2012May 2012December 2012May 2013March 2014June 2015November 2015


Movack says(8:15 PM):
But that review will not be done for comment until mid july

rcookie says(8:16 PM):
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(8:16 PM):
they have to have another review?

rcookie says(8:16 PM):
AS FAR AS THEIR ANNUAL PC (PERFORMANCE CYCLE)


Martha Sue says(8:17 PM):
by July 29, 2016?

Hutch says to rcookie(8:17 PM):
IS THIS THEIR LAST ONE?


rcookie says(8:17 PM):
TELL EM WHAT HES WON JOHNNNY!!!!...


Hutch says to rcookie(8:17 PM):
JUST PAY ME IN DINAR !!!!


subgirl says to Hutch(8:17 PM):
lol

Hutch says to rcookie(8:18 PM):
SOOOO, THIS IS KIND OF LIKE THEIR GRADUATION ?


david334 says to rcookie(8:18 PM):
But the RV and SBA are not necessarily linked timing wise?

rcookie says(8:18 PM):
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(8:19 PM):
Exactly


david334 says to rcookie(8:19 PM):
yes yes yes where did Iraq find these people let them run the US

rcookie says(8:19 PM):
HUTCH IS EN FUEGO!!...

EXACTLY AND GREAT POINT...


Hutch says to rcookie(8:20 PM):
WATCH IT BUDDY !


subgirl says to Hutch(8:20 PM):
lol

Hutch says to rcookie(8:20 PM):
.D


rcookie says(8:21 PM):
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 EHATBTHEY HAVE LEARNED!!!!!...
.

subgirl says to rcookie(8:21 PM):
WOW!! y)

jimplants says(8:22 PM):
best thing you have said all year

rcookie says(8:22 PM):
APPLY WHAT THEY HAVE LEARNED*


bibi says to rcookie(8:22 PM):
Love it! .)

jimplants says(8:22 PM):
and you have said alot

Hutch says(8:22 PM):
WOW O WOW WOW !!!!!!!!!!


Movack says(8:22 PM):
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(8:22 PM):
WOWsers is right rcookie

subgirl says to rcookie(8:22 PM):
that is EXCITING!!!!!!!!

rcookie says(8:22 PM):
GRETA....GREAT...GREAT...QUESTIONS AND CONVERSATION!!!


Dinar Dave says(8:22 PM):
LOL... That's difficult with the clown thay had running the country...lol... But your point is well taken...

david334 says to rcookie(8:23 PM):
I have been shot by a stun gun8-|

jimplants says(8:23 PM):
thank you all be blessed

BUCK says(8:23 PM):
???????

Hutch says(8:23 PM):
TALK ABOUT KNOCKING IT OUTTA THE PARK !!!!!!!


rcookie says(8:23 PM):
MR WHITE SIR AS USUAL YOU ARE SIMPLY THE BEST...THANK YOU SO MUCH!!!...


angus says(8:23 PM):
Thank you all for all that you do....

Hutch says(8:23 PM):
WE HAVE THE BEST OF THE BEST RESEARCHERS !!!!!


rcookie says(8:23 PM):
GN JIM...TY


jimplants says(8:23 PM):
yw

Dinar Dave says(8:23 PM):
Thank you Gentlemen..... Well done....

sassy says(8:23 PM):
rcookie love the news

rcookie says to BUCK(8:24 PM):
GO BUCK


clay01 says to subgirl(8:24 PM):
What did everyone get excited about, I don't get it

BUCK says(8:24 PM):
so where does the necessity of a value change occur???? thx

rcookie says to sassy(8:24 PM):
HEY THERE SASSY!!!!....BOULYAAAAAH!!!


Hutch says(8:24 PM):

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(8:24 PM):
rcookie+wmawhite= extraordinary excellence Thx

coco1 says(8:24 PM):
me too, i'm a little confused

sassy says(8:24 PM):
rcookie oh yeah mister

Hutch says to BUCK(8:24 PM):
ITS LIKE A COLLEGE STUDENT

IRAQ IS FINISHED AND GOING OUT INTO THE REAL WORLD


rcookie says to david334(8:25 PM):
TYVM DAVID!!....THANKS FOR PARTICIPATING...


bibi says(8:25 PM):
Thank you, RCookie, Mr. White, Hutch, Ms Mags, Subby and all. Woo hoo!