WEALTHWATCH 2-23-16
Post From Wealthwatch.world Chat Room
News With Links & Discussion
Wealthwatch OOTW Wed PM News & Comments 2-23-16
winnerdinar: Can anyone check if the qi card is now accepted at Ali express.
winnerdinar: I think this is true
Doug_W: IDK winner
winnerdinar: ‹@Doug_W› three friends have confirmed it
winnerdinar: But I want more exposure to see if this is true
Doug_W: what is a QI card what is Ali Express?
winnerdinar: Ali express is the biggest wholesaler in the world
winnerdinar: And the qi cards are the smart cards from Iraq
Doug_W: ahh
~~~
Post From Wealthwatch.world Chat Room
News With Links & Discussion
Wealthwatch OOTW Wed PM News & Comments 2-23-16
winnerdinar: Can anyone check if the qi card is now accepted at Ali express.
winnerdinar: I think this is true
Doug_W: IDK winner
winnerdinar: ‹@Doug_W› three friends have confirmed it
winnerdinar: But I want more exposure to see if this is true
Doug_W: what is a QI card what is Ali Express?
winnerdinar: Ali express is the biggest wholesaler in the world
winnerdinar: And the qi cards are the smart cards from Iraq
Doug_W: ahh
~~~
winnerdinar: Ali express is owned by china
Doug_W: ty but sorry I have NO info
Doug_W: some days I am lucky to know my name with out looking
winnerdinar: if anyone can confirm it let me know because this is pretty huge
Doug_W: that would indicate some sort or RATE
winnerdinar: No
winnerdinar: im not too sure what it means
winnerdinar: But if Iraq can now trade with China on Ali express that's pretty huge for business in Iraq
winnerdinar: Ali express and Ali Baba
winnerdinar: Ali baba is the biggest wholesaler in the world
winnerdinar: False alarm
Doug_W: PINKY
rocknrollbus: Anyone know if the IMF told Iraq to get off dual currencies by March 1?
waldowould: Look on the IMF website, if it's published in meeting minutes maybe it's there.
rocknrollbus: 19. The government will gradually remove remaining exchange restrictions and multiple currency practice (MCP) with a view to eliminating exchange rate distortions. Such a move towards acceptance of the obligations under Article VIII of the IMF’s Articles of Agreement will send a positive signal to the investment community that Iraq is committed to maintain an 1 See Country Report No. 15/235. Iraq: 2015 Article IV Consultation and Request for Purchase under the Rapid Financing Instrument.
IRAQ 6 INTERNATIONAL MONETARY FUND exchange system that is free of restrictions and MCPs for current international transactions and thus facilitate creation of a favorable business climate.
As a first step, the government will, by end-February 2016, amend the Investment Law, or issue clarifying implementing regulations, to remove the limitation on transfer of investment proceeds that gives rise to an exchange restriction, as recommended by a recent technical assistance mission of the IMF.
rocknrollbus: From
rocknrollbus: International Monetary Fund Iraq and the IMF Press Release: IMF Managing Director Approves a StaffMonitored Program for Iraq January 12, 2016 Country’s Policy Intentions Documents E-Mail Notification Subscribe or Modify your subscription Iraq: Letter of Intent, Memorandum of Economic and Financial Policies, and Technical Memorandum of Understanding December 22, 2015
The following item is a Letter of Intent and a Memorandum of Economic Policies of the government of Iraq. It is being made available on the IMF website by agreement with the member as a service to users of the IMF website.
This memorandum describes the policies that Iraq is implementing in the framework of a staff-monitored program. A members's staff-monitored program is an informal and flexible instrument for dialogue between the IMF staff and a member on its economic policies.
A staff-monitored program is not supported by the use of the Fund's financial resources; nor is it subject to the endorsement of the Executive Board of the IMF.
rocknrollbus: Sooooooo.............now what??
OOTW: hiya
OOTW: THIS IS FROM THE LETTER OF INTENT, PUBLISHED LAST MONTH, CORRECT?
rocknrollbus: ‹@OOTW› ‹@OOTW› ‹@OOTW› Please take a look at what I have just posted and tell me what you think.................yes
OOTW: WE HAVE THAT POSTED IN OUR RESEARCH LIBRARY
OOTW: HANG ON
OOTW: FIRST OFF.WHERE'D YOU GET THE QUOTE? OOTW: PLEASE?
rocknrollbus: From the IMF/Iraq website??
OOTW: SO YOU'RE NOT SURE WHERE YOU GOT IT? OOTW: LOL
OOTW: DID YOU COPY AND PASTE IT? IF SO, FROM WHERE, PLEASE?
rocknrollbus: http://ift.tt/1OirvxC...
http://ift.tt/1UtpMr6
rocknrollbus: Scroll down to #19......
OOTW: THIS IS FROM OUR FORUM, POSTED JANUARY 13 wealthwatch.world/showthr...
http://ift.tt/1QcXZrX
rocknrollbus: Is it?? I just googled "when does Iraq have to get off dual currencies" and that's what came up...........
OOTW: wealthwatch.world/showthr... THIS IS THE LINK TO THE CHAT
http://ift.tt/1Tz4qtP
OOTW: WE DID ON THIS OOTW: LAST MONTH
OOTW: AH THAT'S INTERESTING
OOTW: WELL THEY HAVE A DUAL CURRENCY PRACTICE RIGHT NOW
OOTW: AGAIN HERE'S THE LINK TO THE CHAT WE HAD ON THE IMF LETTER OF INTENT http : // wealthwatch . world / showthread. php?tid=3730 wealthwatch.world/showthr...
http://ift.tt/1P1ipJ3
rocknrollbus: But, doesn't #19 say they have to be off 2 currencies by March 1?
OOTW: HERE IS THE SECTION
OOTW: OOTW: B. Managing External Pressures 19. The government will maintain the Iraqi Dinar’s peg to the U.S. dollar (MEFP, ¶18). The peg provides a key nominal anchor in a highly uncertain environment with policy capacity weakened by the conflict with ISIS.
Accommodating external shocks through more exchange rate flexibility—as opposed to fiscal adjustment—is not advisable. A small devaluation would not alter the need for fiscal adjustment much11 but risk undermining confidence in Iraq’s foreign exchange regime and the nominal anchor it provides.
A large devaluation could aid fiscal adjustment— provided the government could resist subsequent pressures to raise wages and other budget allocations—but at the risk of exacerbating already difficult social tensions and could trigger a spike in inflation as most food needs and consumer items are imported.
Moreover, devaluation would have little impact on exports, which are almost exclusively oil and oil-related products. 20. The government will gradually remove remaining exchange restrictions and multiple currency practice (MCP) with a view to eliminating exchange rate distortions (MEFP, ¶19).
Such a move towards acceptance of the obligations under Article VIII of the IMF’s Articles of Agreement will send a positive signal to the investment community that Iraq is committed to maintain an exchange system that is free of restrictions and MCP for current international transactions and thus facilitate creation of a favorable business climate.
As a first step, the government will, by end-February 2016, amend the Investment Law, or issue clarifying implementing regulations, to remove the limitation on transfer of investment proceeds that gives rise to an exchange restriction, as recommended by a recent technical assistance mission of the IMF.
OOTW: THEY NEED TO DEPEG FROM THE DOLLAR
OOTW: THE INVESTMENT LAW AND THE ANTI MONEY LAUNDERING LAW (DISCUSSED IN THE IMF LOI) ARE PUBLISHED IN THE GAZETTE
rocknrollbus: So, does the unpeg "have to" be done by 3/1/2116?
OOTW: AND TODAY WE HAD CONFIRMATION THAT THE ISLAMIC BANKING ACT IS BEING IMPLEMENTED
OOTW: HERE'S THIS
OOTW: Trade .. change the activity of six financial companies for conversion into an Islamic bank
OOTW: FROM THE MINISTRY OF TRADE
OOTW: AND TO FOLLOW, AN ARTICLE ON THE POWERS OF THIS LAW
OOTW: wealthwatch.world/showthr...
http://ift.tt/1Tz4tpr
OOTW: NO - ITS ADVISED THAT THEY AMEND THE INVESTMENT LAW BY 3-1-2016
OOTW: AT THE TIME THIS WAS WRITTEN BY THE IMF, THE INVESTMENT LAW HAD NOT BEEN PASSED IN ITS CURRENT VERSION
OOTW: I SHOULD SAY THE AMENDMENT TO THE INVESTMENT LAW HAD NOT BEEN COMPLETED
OOTW: IT IS NOW
OOTW: THEY NEEDED TO HAVE THE INVESTMENT ACT/LAW IN PLACE, SO THAT INVESTMENT PROCEEDS COULD BE TRANSFERRED
OOTW: AS THE REPORT STATES
OOTW: THE INABILITY TO DO THIS (IN THE PAST) HAS PREVENTED THE ABILITY OF THE RELEASE OF EXCHANGE RESTRICTIONS
OOTW: Such a move towards acceptance of the obligations under Article VIII of the IMF’s Articles of Agreement will send a positive signal to the investment community that Iraq is committed to maintain an exchange system that is free of restrictions and MCP for current international transactions and thus facilitate creation of a favorable business climate.
As a first step, the government will, by end-February 2016, amend the Investment Law, or issue clarifying implementing regulations, to remove the limitation on transfer of investment proceeds that gives rise to an exchange restriction, as recommended by a recent technical assistance mission of the IMF.
OOTW: "AS A FIRST STEP.."
OOTW: THEY'RE SAYING THAT "RISE TO AN EXCHANGE RESTRICTION" (REMEMBER THEY'RE TALKING ABOUT MCP - MULTIPLE CURRENCY PRACTICES –
AND IRAQ IS STILL PEGGED TO THE DOLLAR)-HAS HAMPERED BECAUSE OF THE INABILITY TO TAKE INVESTMENT PROCEEDS
rocknrollbus: I've noticed the auctions have been really low.
OOTW: THE IMPLICATION HERE IS THAT ONCE THEY APPLY THE SECOND AMENDMENT OF THE INVESTMENT LAW, THAT THEY SHOULD HAVE RELEASED RESTRICITONS AND ABLE TO RECEIVE INVESTMENT PROCEEDS, WHICH COULD BE APPLIED TO THE DINAR AND THEN IRAQ COULD REMOVE THE MCP
OOTW: YES ME TOO, TY
Doug_W: ty but sorry I have NO info
Doug_W: some days I am lucky to know my name with out looking
winnerdinar: if anyone can confirm it let me know because this is pretty huge
Doug_W: that would indicate some sort or RATE
winnerdinar: No
winnerdinar: im not too sure what it means
winnerdinar: But if Iraq can now trade with China on Ali express that's pretty huge for business in Iraq
winnerdinar: Ali express and Ali Baba
winnerdinar: Ali baba is the biggest wholesaler in the world
winnerdinar: False alarm
Doug_W: PINKY
rocknrollbus: Anyone know if the IMF told Iraq to get off dual currencies by March 1?
waldowould: Look on the IMF website, if it's published in meeting minutes maybe it's there.
rocknrollbus: 19. The government will gradually remove remaining exchange restrictions and multiple currency practice (MCP) with a view to eliminating exchange rate distortions. Such a move towards acceptance of the obligations under Article VIII of the IMF’s Articles of Agreement will send a positive signal to the investment community that Iraq is committed to maintain an 1 See Country Report No. 15/235. Iraq: 2015 Article IV Consultation and Request for Purchase under the Rapid Financing Instrument.
IRAQ 6 INTERNATIONAL MONETARY FUND exchange system that is free of restrictions and MCPs for current international transactions and thus facilitate creation of a favorable business climate.
As a first step, the government will, by end-February 2016, amend the Investment Law, or issue clarifying implementing regulations, to remove the limitation on transfer of investment proceeds that gives rise to an exchange restriction, as recommended by a recent technical assistance mission of the IMF.
rocknrollbus: From
rocknrollbus: International Monetary Fund Iraq and the IMF Press Release: IMF Managing Director Approves a StaffMonitored Program for Iraq January 12, 2016 Country’s Policy Intentions Documents E-Mail Notification Subscribe or Modify your subscription Iraq: Letter of Intent, Memorandum of Economic and Financial Policies, and Technical Memorandum of Understanding December 22, 2015
The following item is a Letter of Intent and a Memorandum of Economic Policies of the government of Iraq. It is being made available on the IMF website by agreement with the member as a service to users of the IMF website.
This memorandum describes the policies that Iraq is implementing in the framework of a staff-monitored program. A members's staff-monitored program is an informal and flexible instrument for dialogue between the IMF staff and a member on its economic policies.
A staff-monitored program is not supported by the use of the Fund's financial resources; nor is it subject to the endorsement of the Executive Board of the IMF.
rocknrollbus: Sooooooo.............now what??
OOTW: hiya
OOTW: THIS IS FROM THE LETTER OF INTENT, PUBLISHED LAST MONTH, CORRECT?
rocknrollbus: ‹@OOTW› ‹@OOTW› ‹@OOTW› Please take a look at what I have just posted and tell me what you think.................yes
OOTW: WE HAVE THAT POSTED IN OUR RESEARCH LIBRARY
OOTW: HANG ON
OOTW: FIRST OFF.WHERE'D YOU GET THE QUOTE? OOTW: PLEASE?
rocknrollbus: From the IMF/Iraq website??
OOTW: SO YOU'RE NOT SURE WHERE YOU GOT IT? OOTW: LOL
OOTW: DID YOU COPY AND PASTE IT? IF SO, FROM WHERE, PLEASE?
rocknrollbus: http://ift.tt/1OirvxC...
http://ift.tt/1UtpMr6
rocknrollbus: Scroll down to #19......
OOTW: THIS IS FROM OUR FORUM, POSTED JANUARY 13 wealthwatch.world/showthr...
http://ift.tt/1QcXZrX
rocknrollbus: Is it?? I just googled "when does Iraq have to get off dual currencies" and that's what came up...........
OOTW: wealthwatch.world/showthr... THIS IS THE LINK TO THE CHAT
http://ift.tt/1Tz4qtP
OOTW: WE DID ON THIS OOTW: LAST MONTH
OOTW: AH THAT'S INTERESTING
OOTW: WELL THEY HAVE A DUAL CURRENCY PRACTICE RIGHT NOW
OOTW: AGAIN HERE'S THE LINK TO THE CHAT WE HAD ON THE IMF LETTER OF INTENT http : // wealthwatch . world / showthread. php?tid=3730 wealthwatch.world/showthr...
http://ift.tt/1P1ipJ3
rocknrollbus: But, doesn't #19 say they have to be off 2 currencies by March 1?
OOTW: HERE IS THE SECTION
OOTW: OOTW: B. Managing External Pressures 19. The government will maintain the Iraqi Dinar’s peg to the U.S. dollar (MEFP, ¶18). The peg provides a key nominal anchor in a highly uncertain environment with policy capacity weakened by the conflict with ISIS.
Accommodating external shocks through more exchange rate flexibility—as opposed to fiscal adjustment—is not advisable. A small devaluation would not alter the need for fiscal adjustment much11 but risk undermining confidence in Iraq’s foreign exchange regime and the nominal anchor it provides.
A large devaluation could aid fiscal adjustment— provided the government could resist subsequent pressures to raise wages and other budget allocations—but at the risk of exacerbating already difficult social tensions and could trigger a spike in inflation as most food needs and consumer items are imported.
Moreover, devaluation would have little impact on exports, which are almost exclusively oil and oil-related products. 20. The government will gradually remove remaining exchange restrictions and multiple currency practice (MCP) with a view to eliminating exchange rate distortions (MEFP, ¶19).
Such a move towards acceptance of the obligations under Article VIII of the IMF’s Articles of Agreement will send a positive signal to the investment community that Iraq is committed to maintain an exchange system that is free of restrictions and MCP for current international transactions and thus facilitate creation of a favorable business climate.
As a first step, the government will, by end-February 2016, amend the Investment Law, or issue clarifying implementing regulations, to remove the limitation on transfer of investment proceeds that gives rise to an exchange restriction, as recommended by a recent technical assistance mission of the IMF.
OOTW: THEY NEED TO DEPEG FROM THE DOLLAR
OOTW: THE INVESTMENT LAW AND THE ANTI MONEY LAUNDERING LAW (DISCUSSED IN THE IMF LOI) ARE PUBLISHED IN THE GAZETTE
rocknrollbus: So, does the unpeg "have to" be done by 3/1/2116?
OOTW: AND TODAY WE HAD CONFIRMATION THAT THE ISLAMIC BANKING ACT IS BEING IMPLEMENTED
OOTW: HERE'S THIS
OOTW: Trade .. change the activity of six financial companies for conversion into an Islamic bank
OOTW: FROM THE MINISTRY OF TRADE
OOTW: AND TO FOLLOW, AN ARTICLE ON THE POWERS OF THIS LAW
OOTW: wealthwatch.world/showthr...
http://ift.tt/1Tz4tpr
OOTW: NO - ITS ADVISED THAT THEY AMEND THE INVESTMENT LAW BY 3-1-2016
OOTW: AT THE TIME THIS WAS WRITTEN BY THE IMF, THE INVESTMENT LAW HAD NOT BEEN PASSED IN ITS CURRENT VERSION
OOTW: I SHOULD SAY THE AMENDMENT TO THE INVESTMENT LAW HAD NOT BEEN COMPLETED
OOTW: IT IS NOW
OOTW: THEY NEEDED TO HAVE THE INVESTMENT ACT/LAW IN PLACE, SO THAT INVESTMENT PROCEEDS COULD BE TRANSFERRED
OOTW: AS THE REPORT STATES
OOTW: THE INABILITY TO DO THIS (IN THE PAST) HAS PREVENTED THE ABILITY OF THE RELEASE OF EXCHANGE RESTRICTIONS
OOTW: Such a move towards acceptance of the obligations under Article VIII of the IMF’s Articles of Agreement will send a positive signal to the investment community that Iraq is committed to maintain an exchange system that is free of restrictions and MCP for current international transactions and thus facilitate creation of a favorable business climate.
As a first step, the government will, by end-February 2016, amend the Investment Law, or issue clarifying implementing regulations, to remove the limitation on transfer of investment proceeds that gives rise to an exchange restriction, as recommended by a recent technical assistance mission of the IMF.
OOTW: "AS A FIRST STEP.."
OOTW: THEY'RE SAYING THAT "RISE TO AN EXCHANGE RESTRICTION" (REMEMBER THEY'RE TALKING ABOUT MCP - MULTIPLE CURRENCY PRACTICES –
AND IRAQ IS STILL PEGGED TO THE DOLLAR)-HAS HAMPERED BECAUSE OF THE INABILITY TO TAKE INVESTMENT PROCEEDS
rocknrollbus: I've noticed the auctions have been really low.
OOTW: THE IMPLICATION HERE IS THAT ONCE THEY APPLY THE SECOND AMENDMENT OF THE INVESTMENT LAW, THAT THEY SHOULD HAVE RELEASED RESTRICITONS AND ABLE TO RECEIVE INVESTMENT PROCEEDS, WHICH COULD BE APPLIED TO THE DINAR AND THEN IRAQ COULD REMOVE THE MCP
OOTW: YES ME TOO, TY
OOTW: *I SHOULD SAY, VALUE OF RECEIVED INVESTMENT PROCEEDS COULD BE APPLIED TO THE VALUE OF THE DINAR TO STABILIZE IT
OOTW: LETS SEE IF ALAQ REALLY IS GETTING REPLACED
rocknrollbus: Was telling Doug Maliki has been pretty quiet too!
OOTW: HA..YEAH, I'M SURE HE'S AWAITING TO FIND OUT WHAT HAPPENS WITH NAJAFI'S COURT CASE TO HAVE THE DECISION TO CANCEL THE THREE PRESIDENCIES OVERTURNED
OOTW: GOOD LUCK WITH THAT
OOTW: THEY PASSED A LAW ENFORCING VISA RESTRICTIONS FOR GOVT EMPLOYEE'S
rocknrollbus: Saw that
OOTW: I'VE NO DOUBT MALIKI COULD FIGURE A WAY OUT OF THE COUNTRY SHOULD HE WANT TO
rocknrollbus: aren't both Najafi's appealing?
OOTW: YES
rocknrollbus: Cousins?
OOTW: ETHEL NAJAFI IS APPEALING HIS DISMISSAL FROM HIS GOVERNOR'S POST - YES THEY ARE BROTHERS
rocknrollbus: Oh.....bro's.....
OOTW: YEAH LOL
OOTW: LETS SEE IF ALAQ REALLY IS GETTING REPLACED
rocknrollbus: Was telling Doug Maliki has been pretty quiet too!
OOTW: HA..YEAH, I'M SURE HE'S AWAITING TO FIND OUT WHAT HAPPENS WITH NAJAFI'S COURT CASE TO HAVE THE DECISION TO CANCEL THE THREE PRESIDENCIES OVERTURNED
OOTW: GOOD LUCK WITH THAT
OOTW: THEY PASSED A LAW ENFORCING VISA RESTRICTIONS FOR GOVT EMPLOYEE'S
rocknrollbus: Saw that
OOTW: I'VE NO DOUBT MALIKI COULD FIGURE A WAY OUT OF THE COUNTRY SHOULD HE WANT TO
rocknrollbus: aren't both Najafi's appealing?
OOTW: YES
rocknrollbus: Cousins?
OOTW: ETHEL NAJAFI IS APPEALING HIS DISMISSAL FROM HIS GOVERNOR'S POST - YES THEY ARE BROTHERS
rocknrollbus: Oh.....bro's.....
OOTW: YEAH LOL
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