Dinar Updates technical bulletin
To anyone having trouble getting into chat…
1) Be sure you have actually joined and are a member. A while back we switched servers. When we did – the room may look the same but everything started over from scratch.
2) if you are using Google Chrome you might need to do this:
Click on the menu in the upper right hand corner of Chrome…
then go down to “Settings” > “show Advanced settings” (at the very bottom) > Then to the “Content settings” button > then click “Allow sites to run Flash” – should be good to go.
This is some recent update to Chrome – nothing we did.
3) in that same area I had to go to the Pop-ups box (right below the one above) and check the box to allow pop-ups. If you only want to allow pop-ups on the chat room, you can. There is a dialog box right below where you can add the Dinar Updates Chat Room web address to the box – it will allow the Chat Room to “pop-up”…
Blocked pop-ups is a big reason there are chat room error. You might have to all an exception – for instance, on Firefox.
Hope this helps.
All of the above applies to Desk top/Lap top access only.
If you would like to access the Chat Room via a Smart Phone:
We have recently installed the Mobile plug-in so the Chat Room is Mobile access ready
However, you will need a flash player compatible browser. The recommended browser is Puffin (free version) – you can download it from the Google Play Store in about 2 minutes.
It is a very fast browser – Easy to use. My new favorite mobile browser. I just took Chrome off my Mobile Home Screens – it’s not even close.
We have also added several big, easy to find Mobile Chat Links to the site at the top of the Forum at http://www.DinarUpdates.com
And there is one near the top – also in the content (so it is easy to find on a Smart Phone) on The OBSERVER – http://www.dinarupdates.com/observer/
Our forces cleansed 90 percent of the old city
BAGHDAD / MOSUL / morning – Going liberalization of Mosul operations accelerated paces against the remnants of the collapse of Daesh gangs that have become besieged from all sides in a tight angle after surging yesterday achieve our new victories cleared strategic targets in the heart of Mosul Coast right hand and Badush.
Keeping the bank of the Tigris
It boycotted the recent operations north of the right coast of the statement of the cell media war commander operations (coming, Nineveh), Lt. Gen. Abdul Amir Rasheed Aarallah, saying that pieces of the band 16 completed yesterday afternoon edit all villages and areas east of hand Badush (20 km northwest Mosul) after clearing the village of aesthetic and thus imposed full control on the eastern edge of the Tigris River, explaining that the band freed am Sheikh Mohammed village east side and raised the Iraqi flag over the buildings after the enemy to inflict loss of life Aldaasha and equipment.
Aarallah also confirmed that pieces of the band itself liberated residential complex near the village of Sheikh Mohammed and the village Alajafal neighbors.
At the same time , it said a statement issued by the Media Authority popular crowd forces, the heroes of the Second Brigade of the body in the afternoon yesterday were able to kill a leading figure in the terrorist gangs Daesh (Abu Bakr Iraqi) central hand Badush.
As the crowd forces blew up a car bomb belonging to those gangs while trying two Anthariaha targeting our units , on the outskirts of hand and killed them on the spot.
The new door area
The commander of the federal police forces team Raed Shakir Jawdat, it was announced that the cuts Divisions Fifth and Sixth Committees for his leadership liberated noon on Tuesday the new door area and approached the white door area in the heart of the left coast, warning that the rapid federal police respond band completed editing the proportion of 90 percent of the old city area and is now close to the old bridge, pointing out that the pieces tactic slow victory adopted in order to ensure the safety of civilians because of the population density of central Mosul and barricaded enemy of the people.
He said the cuts Divisions III and rapid response Completes am editing buildings Sabunji Mosque and the Baghdad Hotel in the neighborhood of Bab brick within the old city, and thus forces approached to tens of meters away from the old bridge , which connects the old city to the left side of the site east of Mosul.
Extermination convoy “of Doaash”
Jawdat also stressed that federal police forces, liberated Nineveh train and garage Baghdad ‘s southwestern old terminal connector, at a time when the rapid response provided by the axis forces continue from Bab bricks towards the old bridge, parallel with continued relief to the displaced from the people of the right coast and assistance operations humanitarian them and take them to safe places south of Mosul. Signed Daesh gangs terrorist in an ambush while the Army Air startle a convoy of a number of wheels carrying armed terrorists on the right coast, said a brief statement to inform the body the popular crowd, the Army Aviation startle this convoy and throw him in the perfect ambush and then Islamabad all these terrorists as it did not survive them one .
Preparations for the popular crowd
Coincides victories with direct popular crowd forces, draw a practical way in preparation for edits in the western axis within boycotted the desert province of Nineveh , and down to the Syrian border, as explained Media Authority popular crowd that the engineering effort and heavy machinery Brigade eighth popular crowd began to draw roads in preparation for operations anticipated in this axis starting from the urban south – west of Mosul intersection down to the bordering district of Tall Afar Leine line.
He noted that the pieces of the popular crowd all factions had completed the first phase of page six of western Mosul operations to impose its control on Tal Afar strategic airport and villages and large areas in the vicinity of Tal Afar achieving a petition with the district of Sinjar , where each supply gangs lines cut Daesh to and from the Syrian border .
Close terrorists
To that drew the director of central operations in the form of the popular crowd, Abu Muntazer al – Husseini, said Daesh gangs lost its compass and hit the confusion and collapse in the right coast and greatly weakened compared to what was on the left coast, indicating that the momentum continued our troops and edit areas before the timing specified in the plan confirms that the achievement of the overall objectives of the battle pages progressing quickly than expected towards the resolution of final. This represents a starting point for the liberation of the entire coast and alleys narrow in less time, pointing out that the access process to this point is a sign of growing our capabilities to all kinds of weapons of Higher and coordination among them, and pointed out that Daesh gangs lost a lot of physical potential and important areas ranks and crumble clearly leaving numbers large of the dead , including the most prominent leaders and the arrest of another prepare them.
Read More: http://www.dinarupdates.com/showthread.php?47437-Our-forces-cleansed-90-percent-of-the-old-city
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Dinar Updates – “NEWS TIME” w/MadDScout & the FB Crew – Mar 16th 6:30pm CST – In the DU CHAT Room!!
Loop (Dinar Guru) – Article quote: “today we move from a centralized economy to a market economy” Who is saying this? Dr. Mohammed Saleh economic advisor to Prime Minister al – Abadi! BOOM! …moving to a true market economy would have to include an internationally recognized currency. Market Economy = Free Market Economy. There are currently 180 countries that are ranked from Free to Restricted. Iraq is not listed. Of the 180 list countries how many of them have a currency that is internationally recognized? All of them. So do you think it is reasonable to theorize that given Saleh’s quote “today we move from a centralized economy to a market economy” that with Iraq’s move to some form of a market economy that the IQD will have to be internationally recognized as well? I DO!
Read More: http://www.dinarupdates.com/observer/
In honor of this tax season…
In 1950, the average family of four paid 2% of its earnings to federal taxes. Today it pays 24%. – William R. Mattox, Jr.
It would be a hard government that should tax its people one-tenth part of their income. – Benjamin Franklin
Time to rethink our poor choices…BGG
BGG (Dinar Guru) – These days – throw a rock in any direction and you hit a STUNNING NEWS PIECE. “They” have pretty much showed us the outline…and it’s being worked out now. Let’s hope they get the reform projects started soon. Because the beginning of the Iraq currency reform is when your life changes.
Read More: http://www.dinarupdates.com/observer/
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from Tues nite – Mar 14th
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Cabinet to vote on the draft law of the Iraqi National Oil Company
Economy News / Baghdad …Voice of the Council of Ministers, the draft anti-terrorism law and referred it to the House, also voted on a draft law the Iraq National Oil Company, in addition to voting on the Bank of Japan for International Cooperation loan to finance the Ministry of Electricity projects.
Information Office of the Prime Minister said in a statement obtained by “Economy News”, a copy of it, that “the Council of Ministers held, its regular headed by Haider al-Abadi,” pointing out that the Council of Ministers, “the voice on the draft anti-terrorism law and forwarded to the House of Representatives.”
He said the office, that “it was during the meeting to vote on the draft law of the Iraqi National Oil Company and submitted to the House of Representatives,” noting that “the Cabinet was briefed on the actions by the Chairperson Rafidain and Rasheed banks and the Iraqi Trade Bank and National Investment Authority to facilitate the sale of apartments in Basmajh which notably reduce the proportion of interest and through standardized instructions adopted by the banks. ”
He continued, “The Council of Ministers search through the report submitted priorities for implementation of water and sewage projects in Baghdad and the provinces, according to the comprehensive plan that the President of the Council of Ministers prepared and according to schedules and periods of time completed in 2017 and provide the funding for it,” noting that the Council voted on the “Bank loan The Japanese international cooperation JBIC to finance the Ministry of Electricity projects. ”
Read more: http://www.dinarupdates.com/showthread.php?47444-Cabinet-to-vote-on-the-draft-law-of-the-Iraqi-National-Oil-Company
BGG (Dinar Guru) – [Why would it be logical for Iraq’s RVed rate to come out lower than Kuwait’s current rate when Iraq has so much more oil (and other resources) thank does Kuwait?] Logical – except oil resources and prices have zero to do with currency valuation – according to the IMF… Further – since the very definition of “currency” is a “promissary note” on the economy of a country. Truthfully – it’s going to be what the world – ie, IMF, UN, WB wants it to be…since…each currency is limited by boundaries of acceptance. In Iraq’s case – it is not internationally traded and therefore not accepted. …is this on the horizon – it sure looks promising… however, Iraq could “price” their currency at whatever they want… without international acceptance and support – who would buy it?
Read More: http://www.dinarupdates.com/observer/
Central Bank announces issuance of Islamic bonds in June
Economy News / Baghdad …Iraqi Central Bank announced on Wednesday for the possibility of issuing Islamic bonds in June after the completion of the technical aspects of it is released, pointing out that the central part of its strategy to diversify Islamic tools and the most important instruments in accordance with Islamic law, which chime and wishes of a large segment of society.
The director of financial operations at the central bank Mahmoud Mohamed in a statement seen by “Economy News”, “This trend is supported in various countries around the world and adoption by major banks in Britain, Malaysia and other important economic blocs,” adding that “in Malaysia up the value of instruments Islamist to 3 trillion dollars and is working to finance major projects in that country. ”
Muhammad explained that “the central bank completed a kind of Islamic instruments” Islamic certificates of deposit “will be issued over the next June,” adding that it “guaranteed and the degree of risk in which zero percent and is working to attract large cluster of cash to the banking sector and investment in order to achieve viability.”
He pointed out that “Islamic Sukuk issued in accordance with the law and combine the stock and the bond.”
Read more: http://www.dinarupdates.com/showthread.php?47440-Central-Bank-announces-issuance-of-Islamic-bonds-in-June
Iraqi Dinar/Dollar auction 03-15-17 (most recent listing)
Currency Auctions Announcement No. 3402
This daily currency auction was held in the Central Bank of Iraq on the 03-15-2017
The results were as follows:
| DETAILS |
NOTES |
| Number of banks |
36 |
| Number of remittance companies |
11 |
| Auction price selling dinar / US$ |
1182 |
| Auction price buying dinar / US$ |
—– |
| Amount sold at auction price (US$) |
161,399,705 |
| Amount purchased at Auction price (US$) |
—– |
| Total offers for buying (US$) |
161,399,705 |
| Total offers for selling (US$) |
—– |
More: http://dinarupdates.com/observer/
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Development investment in loans
Economy News / Baghdad …Talk about the loan file carries a lot of worries and grief, especially after Iraq’s transition from creditor nation to a debtor nation .. and today we groan under the weight of debt is back-breaking, as the data indicate that the amount of internal and external public debt exceeded 110 billion dollars, a figure astronomer probably accounts for (60 percent) of the amount of the total output.
The per capita share of the debt, according to the figures around 3000 dinars to 6000 dinars per capita share of GDP, and this percentage ignite the red light that we are we are now in the red Economic Zone, on the grounds that the amount of the debt exceeds by half the proportion in comparison with the total output.
How will we can fulfill this heavy financial obligations and our economy is still walking on one foot infected lameness as a result of excessive dependence on oil, which Maprah volatile in prices, down steps far from the levels during the price madness stage, which led to at us, the disease Alholnde.oma we entered into Iraq’s debt depth and detail found divided into two internal and external debt, the danger lies in the external debt more.
Religion interior can be controlled by taking a range of measures and treatments that would solve the problem, as happened with dues Contractors resulting from their implementation of ongoing investment projects interrupted by the financial crisis resorted government to tear issuing bonds to pay off those of around 5 trillion dinars dues and so the rest of the debt.
The amount of external debt about 65 billion dollars, including 41 billion dollars of previous debts, mostly to the Gulf was the former regime had borrowed to sustain the momentum of the war with Iran, and therefore of bad debt that the Iraqi people did not benefit them in the developmental aspects of this religion precisely because they are so bad, the Gulf states did not call him so far so it was promise of outstanding debt, they are installed in the records without scheduling or annual interest Remember, this reduces to some extent the risk of public debt and makes GDP safe from Ktr.ouhan refer to the amount of external debt these figures are net debt after the write-off accounted for 80 percent of the debt within the framework of the Paris Club agreement in 2004 by which write off $ 100 billion. (This is what Saleh talked about during his interview on Sunday. – LOOP)
Aside from the size of the debt internally was or externally, the state continues to borrow from abroad, as well as internal debt, which is trying through which employees’ salaries locked in some loss-making state-owned enterprises is, they are only the consumer and their number is not a little, the biggest problem and the most dangerous is that these debts large, mostly financial debt operational and not an investment, meaning that it is the debt of non-productive contrast entail annual benefits even if those benefits Mthaodh but ultimately Iraq must fulfill in one day, and that day is not far away, with respect to loans that have been obtained from the international Monetary Fund and some of the banks in 2020, which not only separates us from him three years will be the starting date for repayment of this debt is no room to resolve or postpone repayment. Here, let’s turn our modern path to another destination, we say, that the religion that was not a product, it is a heavy burden on the economy, so it should give serious thought to guide foreign loans output towards development support that suffer a lot of structural imbalances, we need to vital projects in the agricultural sector and like the tourism sector as well as industry to guarantee at least a possibility to pay the benefits of those debts, by the other hand are taking steps toward activating the alternative development of oil sectors and to achieve sustainable development, which has become a target for the trends of the world all, the succeeded in making use of developmentally debt outputs of the process, we We will maintain the rights of future generations.
But it remains the most important question: Can we do without borrowing under the ongoing financial crisis and claims by the World Bank should be a package of reforms and financial, monetary and trade is to reduce overhead through the elimination of support for some of the services provided by the government, such as petroleum products and the ration card, as well as privatization of the public sector of transforming economic and governmental institutions to private institutions, and this has not been achieved for many reasons, as well as calling for trade liberalization to lift customs and administrative restrictions that would hinder movement of goods and capital, and in this particular partial some believe it has hurt the Iraqi economy and opened new horizons for the invasion of commodity cause condition serious exposure to the economy .. that is why a group of experts believes that the debt represent Tkpala economy, Belhaz that the current loan obtained by the country you go to meet the operating deficit in the budget, either as that earmarked for development and investment Flaakad little, or in other words, it loans is Productive.
The bottom line: The debt profile had become a major strain on the national economy and represents a threat to development not only in the present but will extend its effects to the future and therefore we need to procedures and treatments radical try from which to achieve two goals, the first possibility to stop borrowing, as it is not logical that an General Fund about $ 80 billion and we go to borrow 3 or $ 4 billion more harm than good ..
The second objective to initiate the implementation of funded economy projects can through what is achieved profits deduct a certain percentage of the debt repayment benefits, and so can we create real sustainable development to ensure the life of best for us and preserve the rights of future generations.
Read More: http://www.dinarupdates.com/showthread.php?47447-Development-investment-in-loans
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The following .PDF is the review by RCookie of the IMF board’s publishing of Iraq’s SBA (excellent info) – He would have wanted you all to have it.. posting the whole .PDF was the only way to get it on here. Enjoy. BGG
SBA 2016 RECAP
Robert Cook CSW CSS CBP CST CTC
Iraq:
IMF EXECUTIVE BOARD COMPLETES FIRST REVIEW IRAQ’S STAND-BY ARRANGEMENT (45 pages…)
12162016
Economic Adviser to the Prime Minister: any country linked to terrorism must be written off debts and in 2022 we will be the biggest payment
BAGHDAD / tomorrow Press: After Greece ‘s financial crisis and what is passing through Jordan today ‘s economic crises feel the Iraqi people who have multiplied and multiplied his government loans scared, Dr. appearance of Mohammed Saleh economic advisor to Prime Minister al – Abadi spoke about the Iraqi debt in detail in this dialogue, and pointed to the accumulation of past debt and current debt, benefits and how to repaid warning in 2022 , which will be the largest payment , according to his description.
“Tomorrow Press” have had this dialogue with the d. The appearance of Mohammed Saleh:
Q) Stand – between Iraq and the IMF agreement is shrouded in mystery, how it will be repaid? What is the repayment period?
A) It is no secret to anyone that the standby credit program known as SPI is the third program, which entered into by Iraq with the International Monetary Fund since the Paris Club agreement, which is not the first, as some imagine, this program fund for member countries submit it when in financial crisis and Iraq is going through a financial crisis since falling oil prices mid-2014, as you know, there was a deterioration in the balance of payments and the Iraqi reflected in the federal budget, timely intervention of the IMF this credit arrangements by providing a loan for Iraq, but this loan is not only the loan but is born umbrella to support Iraq, is the introduction of a financial dark great, this umbrella of the IMF as about twenty billion dollars, including the postponement of compensation for the Kuwait war, to $ 4.6 billion, while the Fund’s loan itself is the $ 5.3 billion paid in the form of payments interspersed with 13 review with the Fund, including 6 review major and the rest sub-review, after each audit the fund called a batch of loan payments, has to ratify the agreement on 07/07/2016 and we received the amount of one billion and two hundred and fifty million dollars a boost, this year there is a second review is now list in Amman by a professional team and there Balssayasat on a team headed by the Minister of Finance agency, Dr. Abdul Razzaq al-Issa and the Governor of the Central Bank on the Keywords and I will be with them and I also expect that the fund launched after this review batch of the loan of approximately $ 840 million.
Q) Dr. understand from your words that we have not received anything from the loan before 07/07/2016?
A) Before approving Iraq received what is known as means of accelerating the funding which the help of the IMF amounting to one billion two hundred million dollars nothing to do with the loan came due at the time the difficult circumstances coincided conflict with Daesh and the collapse of oil prices, a semi-grant, in fact, which is paid at a later date and arrangements far term, a return to the subject of the loan, the loan is received during the three years in order to support the budget, the benefit of the loan is 1.5% per annum for each batch of the loan there by two years and allow a period by 3 years, the period of Iraq received 250% of its share of the international Monetary Fund and Iraq’s share of the fund of one billion, eight hundred and sixty-six million dollars, and are considered low-interest loan.
Q) What about Article IV of the Stand-By agreement, which is for evaluating the economic situation in Iraq? What is your expectation of the nature of the evaluation report which will be released?
A) Member states of the IMF assesses to be placed every two years, with the current review of the special loan fund is being assessed Iraq’s economic situation and its prospects, and Article IV part of the revisions, Iraq was in the security crisis and is in the way of disappearing after streak to organize Daesh terrorist, either crisis Finance there is improvement, and we as experts Malians are not optimistic about a lot, but cautiously, oil, which sold Iraq during the last three months was the one from the barrel, including close to $ fifty, while the price in the budget of 2017 was expected to be sold for $ 42, this reduces the deficit and improve the situation the balance of payments, and if oil prices stay on this case, the projected deficit, a twenty-one trillion Iraqi dinars may become ten trillion only.
Q) International auditing firm (KPMG) talked about the deficit of $ 17 billion in the first half of 2016 .. What is the nature of this deficit? What is the nature of the contract with such a large company on Wall Street?
A) According to what I know from my 0.2016 a whole deficit was 25 trillion Iraqi dinars, but at the end of the year has become a deficit in practice 15 trillion only, and this good news was public finances was able to provide 10 trillion by restricting expenditures and to reconsider and postpone some of them, either for the company auditing is another story, a story linked calculates oil receipts, which in turn is an account outside Iraq at the Federal reserve Bank in New York, international auditing firm with arms and many branches and can get to the information you need better than any national company in a way, a respected global company and give credibility to the world Borkamha, this is unusual, and that does not negate the role of the Office of financial supervision in the monitoring, verification and is supposed to be the job or using his company auditing foreign or cooperate with them, the intersection of the work previously happened because of the multiplicity of views and this audit is finished.
Q) There stemmed United Nations team will be responsible for the follow-up of Iraq’s money contraband, is it seven Kaltjarb in the hunt for the money, which he used on Iraq noted previously with little result?
A) Our poor organization in my estimation, there were many bodies were supposed to be there on the one hand, past experience to follow the money smuggled all worked and came to the results, some good and some less so, and some of them did not work completely, the dilemma that we faced we’ve seen in the recovery of Iraq’s money associated with the prime minister Fund The problem, according to the law and underwent one amendment was founded in 2012, this fund for the former regime’s money only, ok what about the money that came out after 2003? Of course includes the Fund Law reward to the informant few and unattractive and because of the amendment, which has been on the law an objection to the amount of the bonus the original but has been meeting every Iraqi government teams responsible for monitoring money smuggled in the office of Dr. Abadi, the prime minister, then emerged and the national team, so as not to lose the expertise and information among all sides, either the international Advisory and monitoring have finished it, the UN security Council resolution 1483 of 2003, which founded the Iraq Trust Fund, known as DFI, a fund of oil receipts and deducted from 5% compensation to Kuwait, then the security Council, the form of the international Advisory and monitoring membership Fund Monetary World Bank and the Fund for social Arab economic of the Arab League and a representative of Iraq, which was then on what Mr. Mehdi al-Hafez remember when he was minister of planning and then Iraq did not represent a single, one of this Council monitor the DFI, and then there are problems, agreed the security Council on the formation of an Iraqi team this compares with the Council, which was known as the Committee of financial experts from four experts, then issued security Council resolution 1956 in late 2010, and was in it that after six months, will raise international protection for the DFI and for the Iraqis to pursue the matter on their own was resolved the international Advisory and monitoring.
Q) What about the DFI or the Oil Fund for Iraq funds in the Fed?
A) Changed his name only, became a number to account owned by the Central Bank of the Federal Reserve, the legal rule is that the account is protected from creditors or bookings, despite the lifting of international protection for it.
Q) As long as we’re talking about Iraq’s money wasted what about the inspector general who specializes in the reconstruction of Iraq, Stuart Bowen and talking about the missing $ 17 billion should have been spent in Iraq?
A) I read the book Bowen and I had met him previously four times and visited me twice a gentle and calculated person on the Republican Party and became retired after that, he talked about the many stories, Bowen watched the Americans expenses in Iraq, speaks, for example, charging Iraqi funds to Iraq At the airport, they giving amounts to Kurdistan and gave to the then Finance Minister Kamel al-Kilani Mubdar Cache manner and many other stories, but I think that all of this money will not be lost.
Q) demanded earlier to reconsider the agreement of the Paris Club, why? And why I said then that Iraq could pass the 2022 crisis?
A) Paris Club agreement includes allowing 16-year period after the end of the grace period, we will start the remaining pay of Iraq’s debt, which was reduced and extinguish each other, Iraq at the time managed to write off $ 100 billion of its debts amounting to at the time $ 128 billion, in principle, there are countries still stalling in the settlement of the reasons may be a lack of documentation on the debt, or the debt mere allegations or perhaps because of political positions or maybe wanted to write off their debts in full, all Paris Club debt written off, including 80%, today’s Iraq fought on behalf of the entire world, and in my opinion that any state linked to terrorism must be written off debts us and I think we need a moral tour with Paris Club countries that condemn her at that time were 65 countries, including 19 countries are members of the Paris Club are all borrowed whom the former regime, which are all subject to the agreement of the Paris Club, some countries such as America, Cyprus and Malta wrote off debts of 100% of the time, Russia wrote off 94% in the Paris Club, in 2022 there will be many loans must be repaid, for example, there are support issued by the Iraqi government to meet commercial debt on Iraq and named in 2028 are traded in London markets secondary and this will be extinguished there are also support another billion dollars will also be extinguished in 2022 and many of the IMF loan will be repaid in 2022, and so there will be many loans to repay, and this year is the peak of the payment, but from now to 2022, God willing, will improve conditions, Iraq’s debt today of 35% debt and internal this controlled, and there are 35% of Iraq’s debt is the remainder of the debt after the Paris Club agreement is equivalent to $ 41 billion, and part of it is real and some of the debts due to supply internationally prohibited weapons and some countries hesitate to claim it, in then it signed the agreement Dr. Adel Abdul-Mahdi was present Dr. Shabibi and professor Aziz Jaafar and I, and it was supposed to write off Iraq’s debt by 90%, but that France was opposed on the grounds that Iraq is not a poor country, Russia did not agree to reduce the debt, but President Bush spoke at length with President Putin managed to convince him.
Q) What about the payment of interest on that debt? Does Iraq let loose by the benefits in 2017?
A) Department of the benefits of the Paris Club debt amounting to $ 19.9 billion and Iraq pays these benefits every six months and reach 5.8% and there are internal debt of the Rafidain and Rasheed must be repaid and the amount appropriated is 5 trillion Iraqi dinars for it in 2017 only.
Q) Let’s talk about a project loan of the United Kingdom amounting to 10 billion pounds, what the nature of this loan?
A) This is mentioned loan in the federal budget for the 2017 law, authorized the Minister of Finance to sign a memorandum of understanding for the loan of 10 billion pounds by the British Agency for exports to finance development projects, including the allocation of $ 120 million for the Basra water desalination project, the benefit of the loan is low and can pick it during the 10 years and pay off well over 10 years, that British companies implement infrastructure projects this loan, our part we stipulated that the companies be first-class international competitive prices.
Q) There is a memorandum of understanding with Germany to borrow half a billion dollars .. What about this loan?
A) $ 600 million is in fact grant is part of the financial umbrella that comes because of the Stand-By agreement with the IMF, and this agreement is similar to the international coalition against Daesh but a specialist to support Iraq’s economy.
Q) There are leaks from politicians Kurds that the Kurdistan region of Iraq’s debt of 40 billion dollars .. Do Sasddha Iraq?
A) The government has no knowledge of these loans, and with all due respect to those who borrowed, but the loan without the knowledge of the federal government does not count, does not constitute a commitment it’s like borrowing from a bank dealer Iraqi Jordanian, does the government do with it? We asked them audited accounts according to international standards and then everything is debatable, specifically the debt of oil companies, the oil in the Constitution, the question of a federal and the proportion of 17% for the Region parked as a result of exports away from SOMO, noting that the province agreements with the oil companies have nothing to do tours licenses.
Q) There is talk about renegotiating oil licensing rounds .. How will it?
A) It stated in the budget law for 2017 and oil companies themselves do not mind having to renegotiate, and talk about the glitch agreement tours has to do with political Palmeatrut, so some people avoid going into these details, what concerns us is the interest of Iraq, and we would like to be cost less as possible, For example, we’ve spent $ 45 billion on the rights of companies, but imports of $ 280 billion therefore Valjullac beneficial, oil field that was not developed legacy will reduce its production by 7%, therefore we need contracts with the world’s companies, according to the foundations of a fair and check the interest of Iraq.
Q) What about entitlements Contractors and why are not paid?
A) There is an agreement with them, with the government so that the disposal of their legitimate rights through bonds repaid over five years bears interest rate of 5% and that he wanted the contractor can the central bank selling the bond in exchange for money Cash, where the central bank will take the amount of the bond and benefits from the Ministry of Finance after 5 years, and can sell the bond in secondary markets, was launched $ 45 billion at the beginning, and Nzamn with the beginning of the implementation of the standby credit agreement with the IMF and the latter demanded to stop relying on information says that a lot of contracting the question marks, and this is part of a project governance and financial administration in Iraq, and the responsibility of contracting scrutiny is the responsibility of the audit Court, which had made checks on the basis of samples, but were demanding a comprehensive audit, the first audit of four thousand or five thousand a contractor discovered 300 contractor fakes, the Department has been repaid, and part of them does not exist and these billions of dinars in a difficult situation, we We do not want delay people’s rights and the international Monetary Fund will give us his opinion and the crisis will be resolved within two weeks, BSA has vowed to end the scrutiny of 16 this March.
Q) Rafidain Bank spoke in a statement about not feeding retirement instruments which will delay disbursement of pensions to retired .. What is the retirement body and the pension fund problem?
A) The pension fund sovereign wealth fund, must invest his money and returns to his advantage , first and foremost, the last thing I heard from the No. concerning the Fund that the 14 trillion Iraqi dinars, either about the confusion between the pension and banking body is poorly organized, the problems between the state departments should not go to media, it hurts retired, there is deterioration in the administration and the misfortune of misfortunes Iraq.
Q) Where are the subject arrived sell bonds?
A) This idea enacted in the budget of 2016 a $ 5 trillion promote the law to the public, the fact that the public has a culture of Sindh, and these bonds with sovereign guarantee and promote media has been very low for the subject and people do not know anything about it, so we thought the idea succeed swapping government debt Interior bonds, for example, Contractors pay rights.
Q) There is a project called sovereign wealth fund to finance private companies, he is said to Dr. suggestion .. What is this project?
A) Yes , I’m from the proposed, we are today is in need of major projects, today we move from a centralized economy to a market economy, and for that there must be a sovereign wealth fund internal finances private sector, this fund needs to be another fund of social protection, as well as must the development of the business environment through which you can register a company or canceled minutes later, the procedures are still slow in connection with the registration of companies , despite what was done by the government, and the possibility of money laundering after Zllk can be legally pursued, we do not want to be liberals too much in the end the most important is discipline.
Q) Governor of the Central Bank on the Keywords appeared in more than a seminar to talk about the cash reserve, you are referring to this thing?
A) Iraqi citizen’s share of the reserves of not less than $ 1,000 or $ 1,200, and its share of the debt $ 3,000 but it must take into account the non-real debt and that have not been settled, the Bank Governor Amin on his work, and we are all working very tight with the IMF, central bank reserves it should go down to $ 38 billion, according to IMF estimates, but in the final round, which brought us Monetary Fund had reserves of $ 47 billion, is currently the reserves nearly fifty billion dollars, and even the IMF said this figure optimism for the Iraqi economy point, the whole world must the reserves cover a six-month import In Iraq, we have eight months import cover, in my opinion, the situation is reassuring.
Q) The global economic press reports saying Iraq was a testing ground for what is known as the economy of shock, one of the most important Mtbuniat Chicago, a school in which to pass the privatization peoples indirectly .. Do you find this to be true?
A) The formation of the economic system of Iraq was at the height of globalization in the new liberal thought, for example, the Central Bank Law free money transfers and free everything were canceled customs and the high economic liberalism, but the economy fragile, such as the Iraqi economy shifted under these circumstances to the commercial capital, there were not projects development with high real estate prices, and began capitalism Real Estate sells its properties and shifted their funds out of Iraq as a cheaper there, agricultural capitalism destroyed by the influx of cheap goods, so the Iraqi capital turned out of Iraq, what happened to the so-called financial Marquintalah, the state is sponsoring only financially economy and development there, yes, there was a shock the economy of the ideas of the Chicago School, currently there in the disintegration of the capitalist system and is similar to the stage with the pre-World war II, either about the Iraqi economy, I am optimistic and say that after the liberation of Mosul, there will be a new path of economic reform.
Read More: http://www.dinarupdates.com/showthread.php?47381-Saleh-to-the-Prime-Minister-any-country-linked-to-terrorism-must-be-written-off-debt
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1184.000 |
1182.000 |
| Euro |
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1435.955 |
1435.237 |
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JPY |
10.309 |
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SDR |
1596.944 |
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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. Based on the preliminary findings of this mission, staff will prepare a report that, subject to management approval, will be presented to the IMF’s Executive Board for discussion and decision.
Speaking to reporters, said the U.S. Peace Institute “to his meeting with President Donald Trump has been positive and has been getting assurances that support for Iraq would be faster than the previous until the completion of all tasks”, noting that he looked forward to meeting with members of Congress and we saw a lot of interest from companies that want to work in Iraq and hopefully cooperation in trade, energy, education and culture.
BAGHDAD / tomorrow Press: The head of the National Alliance, Ammar al – Hakim, said that 2017 will be a year to install democracy in Iraq, saying that the presence of Daesh in the country just became time.
Economy News / Baghdad … Set up the House of Wisdom Department of Economic Studies panel scientific symposium, Thursday, on the implementation of private sector development in Iraq strategy requirements (2014 2030)