Dinar Updates Thursday PM Chat 5-19-16 Part 3 of 3

​DINAR UPDATES  5-19-16
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Chat Room Excerpts & Highlights
 
Dinar Updates Thursday PM Chat  5-19-16   Part 3 of 3
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_firefly_ says():QUESTIONER: Thank you. I just wonder if you could provide any more details on the standby agreement that was reached with Iraq today; $5.4 billion, any information on the term of the loan as well as the measures that Iraq will have to take to bring its budget deficit under control?
 
MR. RICE: I don’t have too much more for you on Iraq other than has been communicated today, but let me just point you to that, and we'll see if we can help you out a bit more later on.
 
_firefly_ says():Nobody cares huh?
 
Alembic86 says to _firefly_():Waiting for the rest of it...
Alembic86 says to _firefly_()::)
 
clay says to _firefly_():dont understand it
clay says to _firefly_():long day
 
_firefly_ says():The part I posted was a question to the IMF regarding the loan to Iraq
​~~~

 
wmawhite says to _firefly_():I recommend hitting rcookie up on the details of the SBA.
 
_firefly_ says():IMF Mission Reaches Staff-Level Agreement on Financial Assistance under Three-Year Stand-By Arrangement with Iraq
Press Release No. 16/231  May 19, 2016
Elane says():Thanks FF
 
_firefly_ says():The Iraqi authorities and the staff of the International Monetary Fund (IMF) have reached a staff-level agreement on a request for a 36-month Stand-By Arrangement (SBA). Under the arrangement, and subject to the approval of the IMF executive board, Iraq could have access to IMF credit amounting to SDR 3.894 billion (about US$5.4 billion) subject to the finalization of the macroeconomic framework and financing assurances.
 
 Iraq’s previous US$3.7 billion (200 percent of quota) SBA approved in February 2010 expired on February 23, 2013. Iraq received a $1.2 billion disbursement under the Rapid Financing Instrument in July 2015.
 
Mr. Christian Josz, Mission Chief for Iraq, issued the following statement today in Amman:
 
“Iraq has been hit hard by the conflict with ISIS and the precipitous fall in oil prices. The ongoing armed conflict with ISIS continues to strain the country’s resources and is resulting in new waves of internally displaced people, now reaching over 4 million. The steep fall in oil prices is causing a large external shock to the balance of payments and budget revenue, which depend predominantly on oil export receipts.
 
subgirl says to _firefly_():thank you!! :) (y)
 
_firefly_ says():“To address the urgent balance of payments need, the Iraqi authorities and IMF staff have agreed on a three-year program of economic and financial policies that will bring spending in line with the lower level of oil prices and ensure debt sustainability. ‘
 
The program also includes measures to protect the poor, strengthen public financial management, enhance financial sector stability, and curb corruption. The Iraqi authorities deserve the support of the international community in the implementation of these policies.
 
“The IMF Board could consider the three-year SBA once agreed prior actions have been implemented, in June or July.
 
“During the mission the team met with the Minister of Finance Hoshyar Zebari, Acting Governor of the Central Bank of Iraq (CBI), Ali Allaq, the Financial Adviser to the Prime Minister Mudher Saleh, and officials from the ministries of finance, oil, planning, electricity, the CBI, and representatives from the Kurdistan Regional Government, Board of Supreme Audit, and pension commission. The team would like to thank the Iraqi authorities for their cooperation and the open and productive discussions.”
 
IMF COMMUNICATIONS DEPARTMENT
Media Relations
 
_firefly_ says():“The IMF Board could consider the three-year SBA once agreed prior actions have been implemented, in June or July.
 
_firefly_ says():have been implemented, in June or July.
_firefly_ says():have been implemented, in June or July.
clay says to _firefly_():whats that mean for us as investors
 
_firefly_ says():“During the mission the team met with the Minister of Finance Hoshyar Zebari, Acting Governor of the Central Bank of Iraq (CBI), Ali Allaq, the Financial Adviser to the Prime Minister Mudher Saleh, and officials from the ministries of finance, oil, planning, electricity, the CBI, and representatives from the Kurdistan Regional Government, Board of Supreme Audit, and pension commission.
 
Alembic86 says to _firefly_():Saw that...that's the date for the IMF statement for Iraq to enter the international market. Another brick in the foundation. Love it!
 
_firefly_ says():Look at the names in there, all FINANCIAL !!!!!!!!!!
 
Alembic86 says to _firefly_():I think they'll start getting money once they're international -- and that's our date.
 
subgirl says to _firefly_():(y) BIG Names!
Alembic86 says to _firefly_():Greatness!
 
_firefly_ says()::)
_firefly_ says():facts folks, facts !!!!!
clay says to _firefly_():thanks
 
Alembic86 says to _firefly_():The IMF has a target date...my bet is that they've allowed for all the stalling and foot dragging so incumbent upon Iraqis. Looking more and more positive with each brick that is laid.
 
_firefly_ says():In other words Iraq needed to accomplish everything the IMF needed BEFORE they got that loan !
 
_firefly_ says():BINGO !!!!!!
R&R says to _firefly_():bingo..... key word being BEFORE
 
Alembic86 says to _firefly_():Agreed...wouldn't be a stretch to say Article 8 no longer has to wait. We're there, eh?
clay says to _firefly_():now I got it :)
 
R&R says to _firefly_():It's the final decision that's in JUNE or JULY... but the actions needed to make that decision must happen BEFORE THEN (y)
 
_firefly_ says():WONDERFUL news !!!!!!!
localcats says():hi all big news day
Alembic86 says to R&R():EXACTLY. :)
 
_firefly_ says():Correct R&R
_firefly_ says():This is by far the biggest news I've seen to date in print !
 
Alembic86 says to R&R():And today was already a BIG news day. Not counting my exchange just yet...but soon I think.
 
_firefly_ says():And straight from the horses mouth
clay says to _firefly_():thanks
Tex says to _firefly_():Wow now that does get my attention ,,,, best news ever,,,,Wow
 
_firefly_ says():Iraq would not have been approved for that loan unless Iraq met the conditions, IMO
 
gracie says():the june/jule date is to get art 8 or to go international? sorry I am slow
 
Alembic86 says to _firefly_():Hey do you have a link to that transcription?
 
_firefly_ says to Alembic86(): http://ift.tt/23YEsBW
 
Kountryway says():Nearly 2 hours ago BGG said he be back in a few with comments...still waiting to see what he has to say. Should be good.
 
BGG says to Knucklehead():?? what's up??
Knucklehead says to BGG():You are
 
 
BGG says():OK - here are my comments...
BGG says():I did not say - for sure "they need more time"...
BGG says():nor did I say - they are GOING to delay...
 
BGG says():(I know there are those that just can't breathe over that comment... get out of the TNT mind set... PLEASE!!)
 
BGG says():I said - Maliki's crew would do everything in their power to delay, stall, slow-walk or subvert... it's their last and only defense... (losing strategy BTW - ask any strategist... you only stall when you are near the end AND ARE ALREADY WINNING...)
 
BGG says():SECONDLY - I did NOT SAY RV RV RV... as in - a prediction... as per the usual "a$$ hats" on the internet... I was plainly commenting on the Rafidain bank News - if the lower note/coin is true and they implement - it means only one thing. R-V.
 
BGG says():Value...
BGG says():currency shift...
BGG says():THAT IS WHAT I SAID.  

​Knucklehead says to BGG():Are you saying Maliki is winning?
BGG says to Knucklehead():HOW COULD YOU POSSIBLY INFER that from what I said???
BGG says to Knucklehead():How is it POSSIBLE??
Nash says():Must be bedtime...
 
Knucklehead says to BGG():Read what you posted
Knucklehead says to BGG():I am
BGG says to Knucklehead):Re-read what I posted...
 
BGG says to Knucklehead():"...you only stall when you are near the end AND ARE ALREADY WINNING..." HE IS N-O-T winning...
 
BGG says to Knucklehead():he is losing and EMPLOYING A strategy as if he WERE...
Knucklehead says to BGG():But hes stalling the process
 
BGG says to Knucklehead():WINNING - which is IGNORANT.
BGG says to Knucklehead():READ IT...
BGG says to Knucklehead():"....losing strategy BTW - ask any strategist..."
 
Knucklehead says to BGG(9):Agreed! I dont think hes winning
 
BGG says to Knucklehead():Maliki's strategy plainly shows clear flaws... his only and best hope is to stall...
BGG says to Knucklehead():bad news for him.
 
Knucklehead says to BGG():Thought you were saying it was a WINNING strategy to stall
Knucklehead says to BGG():I see what your saying. Brain fart!
Nash says():No kidding...lol:D:D
 
BGG says to Nash():OK - gotta' go work on some News - tune in later...

Part 1

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