Post From BondLadys Corner
BondLady & Tlm724 News & Comments 6-14-16 Part 1 of 2
Iraq says IMF deal ‘on track’ as cabinet approves reform package
Iraq has approved measures requested by the International Monetary Fund to unlock loans that should help the country overcome a cash crunch caused by declining oil revenue, a senior government official said.
The agreement, reached last month between Iraq and the IMF, "is on track", Mudher Salih, an adviser on financial policy to Prime Minister Haider al-Abadi, told Reuters late on Sunday.
Among the measures approved are settling by the end of the year all arrears owed to foreign oil companies operating in Iraq, Salih said. He did not say how much was owed.
The OPEC nation sought budget support from the international community after a collapse in oil prices over the past two years. The drop in revenue that resulted caused the public deficit to widen and delayed payments to foreign oil producers.
~~~
BondLady & Tlm724 News & Comments 6-14-16 Part 1 of 2
Iraq says IMF deal ‘on track’ as cabinet approves reform package
Iraq has approved measures requested by the International Monetary Fund to unlock loans that should help the country overcome a cash crunch caused by declining oil revenue, a senior government official said.
The agreement, reached last month between Iraq and the IMF, "is on track", Mudher Salih, an adviser on financial policy to Prime Minister Haider al-Abadi, told Reuters late on Sunday.
Among the measures approved are settling by the end of the year all arrears owed to foreign oil companies operating in Iraq, Salih said. He did not say how much was owed.
The OPEC nation sought budget support from the international community after a collapse in oil prices over the past two years. The drop in revenue that resulted caused the public deficit to widen and delayed payments to foreign oil producers.
~~~
The IMF in May agreed to provide $5.4 billion (3.80 billion pounds) over three years. But the funds are conditional on Iraq's implementing measures to cut spending, increasing non-oil revenue and settling several billion dollars in arrears to oil companies.
RELATED COVERAGE
› Iraq plans to pay arrears owed to oil companies by end of 2016
The Iraqi government approved the measures at a meeting last week and informed the IMF, Salih said in an interview.
Baghdad expects the IMF board to approve by the end of June or early July the disbursement of a first tranche of about $600 million (422.77 million pounds), he added.
The reforms include a tax increase, higher electricity fees and better banking supervision to fight corruption and money laundering, Salih said. It also calls for streamlining state-owned companies and auditing the bloated public payroll to purge so-called "ghost employees" who don't show up to work, he said.
The crash in global oil prices since 2014 came as Iraq needed more resources to fight Islamic State, the ultra-hardline group that seized vast tracts of the north and west, displacing about four million people.
A recent increase in oil prices, to $50 a barrel from below $30 earlier this year, will not delay the reforms, Salih said.
The agreement with the IMF should unlock a total of $18 billion in international assistance over three years, Finance Minister Hoshiyar Zebari has said. He cited the World Bank and the Group of Seven leading industrialized nations among the donors, along with the IMF.
Zebari said Iraq expects to sell $2 billion in eurobonds in the last quarter of this year, when international aid starts coming in, helping to lower its cost of borrowing.
Iraq last sold international debt in 2006, when it issued about $2.7 billion of bonds due in 2028 with a coupon of 5.8 percent IQ024029557=.
(Writing by Maher Chmaytelli, editing by Larry King)
Source: Reuters, June 13, 2016
http://ift.tt/28CS8b1
June 13, 2016 at 10:07 pm | Categories: Reports & News | URL: http://ift.tt/1S4xaG0]
http://ift.tt/28CSZIE [/ltr]
[tlm724] Iraq says IMF deal ‘on track’ as cabinet approves reform package
[tlm724] plan coming together
http://ift.tt/1S4y316
~~~~~~~~~~~~~~~~~~
Parliamentary Finance on money laundering : these crimes " hidden " is not our responsibility
14/06/2016 13:00 BAGHDAD / tomorrow Press : A member of the parliamentary finance committee, Jabbar al - Abadi, said Tuesday that his committee and a supervisory role abbreviated to pursue the sale of funds from the central bank to the merchant imported .
Ebadi said in a statement to " tomorrow 's Press " , that " the Finance Committee followed up the subject of money laundering through the achievement of money laundering of 2015 law " , noting that " follow - money laundering focus of Money Laundering Office , a competent central point ."
He said , " Who has the information for money laundering to be submitted to the money Laundering Office , which in turn has a database checked and if it is proved he has that there is a bank or institution exercising this role opens achievement " , adding that " there are a lot of MPs are talking about money laundering, but their words a year without signs, We follow our funds sold by the central bank to the merchant imported .
" He pointed out that the MP " money laundering is not the responsibility of the Finance Committee, and follow up this matter needs to be competent bodies, because it is a hidden crime and the need to efforts to combat them . " LINK
[tlm724] that " the Finance Committee followed up the subject of money laundering through the achievement of money laundering of 2015 law " , noting that " follow - money laundering focus of Money Laundering Office , a competent central point
[tlm724] so the committee did it's part now it's up to the CBI to implement it and they are !
http://ift.tt/1S4y9WA
~~~~~~~~~~~~~~~~~~~~~
Integrity thwarted an attempt to steal more than 7 billion dinars from the Rafidain Bank
14/06/2016 10:19 BAGHDAD / tomorrow Press : announced the Integrity Commission, on Tuesday foiled an attempt to steal the seven and a half billion dinars from the state 's Rafidain Bank funds through a forged letter of guarantee .
The Commission said in a statement received " Tomorrow Press " , a copy of it, it 's a " managed to thwart an attempt to steal ( 7,500,000,000) dinars from the Rafidain Bank funds - Waziriya Branch 341" , stressing tuned " the defendants , who tried to steal the money through a letter of guarantee forger, in flagrante delicto .
" the body said in the statement revealed access to " information indicating the existence of a letter of guarantee forged in the Rafidain Bank - Waziriya branch - 341 worth ( 7,500,000,000) dinars submitted by a Ministry of industry and minerals staff / public company for the automotive industry
and one of the merchants who edited the letter of guarantee in his name after receiving a public company for the automotive industry approval and equipment to sell cars and mechanisms in installments for two years in exchange for providing the company with a letter of guarantee worth ( 7,500,000,000) dinars issued by the state bank .
" according to the statement to " move its staff to the headquarters of the bank immediately upon receipt of information to it, where it was ascertained directly of the non - validity of the letter of guarantee submitted, adjust the suspects red - handed , accompanied extruded reus ( speech counterfeiter security ).
" She pointed to " record the statements of the accused and the ratification of a judicial inquiry by orderlies judge who decided to record the statements of witnesses in the case, and the arrest of the accused therein; a view to taking legal proceedings against them . "
LINK
[tlm724] who's doing their job ?? The Integrity committee is who !!
[tlm724] they have been very busy
[tlm724] She pointed to " record the statements of the accused and the ratification of a judicial inquiry by orderlies judge who decided to record the statements of witnesses in the case, and the arrest of the accused therein; a view to taking legal proceedings against them . "
http://ift.tt/1S4wVe6
~~~~~~~~~~~~~~~~~
Urgently approve the launch of the first batch of dues Contractors
History of edits:: 06/14/2016 12:49 {Baghdad} Euphrates News Council of Ministers agreed to launch the first batch of dues Contractors.
A source in the council told {Euphrates News} "The Board directed the establishment of the Ministry of Finance firing dues Contractors Exchange through the issuance of treasury bonds and 40% of them down first,
and in proportion to the percentage Almaah to accomplish directly proportional and until the end of the Office of Financial Supervision of the audit that is being processed annual Consolidated appropriations Nhlaah fiscal year and in coordination with the Ministry of planning and the formation of a committee of experts to identify projects "..
http://ift.tt/28CRbj0
[tlm724] "The Board directed the establishment of the Ministry of Finance firing dues Contractors Exchange through the issuance of treasury bonds and 40% of them down first
[tlm724] boy that was quick, Iraq agree's to the terms of the IMF and away they go doing their part Wink
http://ift.tt/1S4xdS6 (Jackie gleason “and away we go”)
http://ift.tt/28CQoyr
~~~~~~~~~~~~~~~~~~~`
Foil attempted theft billion and {380} million dinars from the Rasheed Bank
History of edits:: 06/14/2016 12:09 {Baghdad: Euphrates News} enables work continued for the board integrity foiled an attempt to steal a billion and {380} million dinars from the government Rasheed Bank, adjust the accused, who tried to steal money through fake instruments team.
And it revealed the body was in a statement the agency {Euphrates News} received a copy of it today, for "enabling them to thwart the attempt one of the defendants {lawyer} pass instruments forgers worth {1,380,000,000} dinars through the Rasheed Bank - one in June branch in the province of Kirkuk, on and off the exchange amount, and adjust the accused and the issuance of an arrest warrant against the main defendant in the case. "
he added that" adjustment process that has been under a court order details refer to attempt the main culprit acquisition of the amount mentioned by pointing deposits fake in the smart card account using the port labeled {Castle flowers} return to him. "
RELATED COVERAGE
› Iraq plans to pay arrears owed to oil companies by end of 2016
The Iraqi government approved the measures at a meeting last week and informed the IMF, Salih said in an interview.
Baghdad expects the IMF board to approve by the end of June or early July the disbursement of a first tranche of about $600 million (422.77 million pounds), he added.
The reforms include a tax increase, higher electricity fees and better banking supervision to fight corruption and money laundering, Salih said. It also calls for streamlining state-owned companies and auditing the bloated public payroll to purge so-called "ghost employees" who don't show up to work, he said.
The crash in global oil prices since 2014 came as Iraq needed more resources to fight Islamic State, the ultra-hardline group that seized vast tracts of the north and west, displacing about four million people.
A recent increase in oil prices, to $50 a barrel from below $30 earlier this year, will not delay the reforms, Salih said.
The agreement with the IMF should unlock a total of $18 billion in international assistance over three years, Finance Minister Hoshiyar Zebari has said. He cited the World Bank and the Group of Seven leading industrialized nations among the donors, along with the IMF.
Zebari said Iraq expects to sell $2 billion in eurobonds in the last quarter of this year, when international aid starts coming in, helping to lower its cost of borrowing.
Iraq last sold international debt in 2006, when it issued about $2.7 billion of bonds due in 2028 with a coupon of 5.8 percent IQ024029557=.
(Writing by Maher Chmaytelli, editing by Larry King)
Source: Reuters, June 13, 2016
http://ift.tt/28CS8b1
June 13, 2016 at 10:07 pm | Categories: Reports & News | URL: http://ift.tt/1S4xaG0]
http://ift.tt/28CSZIE [/ltr]
[tlm724] Iraq says IMF deal ‘on track’ as cabinet approves reform package
[tlm724] plan coming together
http://ift.tt/1S4y316
~~~~~~~~~~~~~~~~~~
Parliamentary Finance on money laundering : these crimes " hidden " is not our responsibility
14/06/2016 13:00 BAGHDAD / tomorrow Press : A member of the parliamentary finance committee, Jabbar al - Abadi, said Tuesday that his committee and a supervisory role abbreviated to pursue the sale of funds from the central bank to the merchant imported .
Ebadi said in a statement to " tomorrow 's Press " , that " the Finance Committee followed up the subject of money laundering through the achievement of money laundering of 2015 law " , noting that " follow - money laundering focus of Money Laundering Office , a competent central point ."
He said , " Who has the information for money laundering to be submitted to the money Laundering Office , which in turn has a database checked and if it is proved he has that there is a bank or institution exercising this role opens achievement " , adding that " there are a lot of MPs are talking about money laundering, but their words a year without signs, We follow our funds sold by the central bank to the merchant imported .
" He pointed out that the MP " money laundering is not the responsibility of the Finance Committee, and follow up this matter needs to be competent bodies, because it is a hidden crime and the need to efforts to combat them . " LINK
[tlm724] that " the Finance Committee followed up the subject of money laundering through the achievement of money laundering of 2015 law " , noting that " follow - money laundering focus of Money Laundering Office , a competent central point
[tlm724] so the committee did it's part now it's up to the CBI to implement it and they are !
http://ift.tt/1S4y9WA
~~~~~~~~~~~~~~~~~~~~~
Integrity thwarted an attempt to steal more than 7 billion dinars from the Rafidain Bank
14/06/2016 10:19 BAGHDAD / tomorrow Press : announced the Integrity Commission, on Tuesday foiled an attempt to steal the seven and a half billion dinars from the state 's Rafidain Bank funds through a forged letter of guarantee .
The Commission said in a statement received " Tomorrow Press " , a copy of it, it 's a " managed to thwart an attempt to steal ( 7,500,000,000) dinars from the Rafidain Bank funds - Waziriya Branch 341" , stressing tuned " the defendants , who tried to steal the money through a letter of guarantee forger, in flagrante delicto .
" the body said in the statement revealed access to " information indicating the existence of a letter of guarantee forged in the Rafidain Bank - Waziriya branch - 341 worth ( 7,500,000,000) dinars submitted by a Ministry of industry and minerals staff / public company for the automotive industry
and one of the merchants who edited the letter of guarantee in his name after receiving a public company for the automotive industry approval and equipment to sell cars and mechanisms in installments for two years in exchange for providing the company with a letter of guarantee worth ( 7,500,000,000) dinars issued by the state bank .
" according to the statement to " move its staff to the headquarters of the bank immediately upon receipt of information to it, where it was ascertained directly of the non - validity of the letter of guarantee submitted, adjust the suspects red - handed , accompanied extruded reus ( speech counterfeiter security ).
" She pointed to " record the statements of the accused and the ratification of a judicial inquiry by orderlies judge who decided to record the statements of witnesses in the case, and the arrest of the accused therein; a view to taking legal proceedings against them . "
LINK
[tlm724] who's doing their job ?? The Integrity committee is who !!
[tlm724] they have been very busy
[tlm724] She pointed to " record the statements of the accused and the ratification of a judicial inquiry by orderlies judge who decided to record the statements of witnesses in the case, and the arrest of the accused therein; a view to taking legal proceedings against them . "
http://ift.tt/1S4wVe6
~~~~~~~~~~~~~~~~~
Urgently approve the launch of the first batch of dues Contractors
History of edits:: 06/14/2016 12:49 {Baghdad} Euphrates News Council of Ministers agreed to launch the first batch of dues Contractors.
A source in the council told {Euphrates News} "The Board directed the establishment of the Ministry of Finance firing dues Contractors Exchange through the issuance of treasury bonds and 40% of them down first,
and in proportion to the percentage Almaah to accomplish directly proportional and until the end of the Office of Financial Supervision of the audit that is being processed annual Consolidated appropriations Nhlaah fiscal year and in coordination with the Ministry of planning and the formation of a committee of experts to identify projects "..
http://ift.tt/28CRbj0
[tlm724] "The Board directed the establishment of the Ministry of Finance firing dues Contractors Exchange through the issuance of treasury bonds and 40% of them down first
[tlm724] boy that was quick, Iraq agree's to the terms of the IMF and away they go doing their part Wink
http://ift.tt/1S4xdS6 (Jackie gleason “and away we go”)
http://ift.tt/28CQoyr
~~~~~~~~~~~~~~~~~~~`
Foil attempted theft billion and {380} million dinars from the Rasheed Bank
History of edits:: 06/14/2016 12:09 {Baghdad: Euphrates News} enables work continued for the board integrity foiled an attempt to steal a billion and {380} million dinars from the government Rasheed Bank, adjust the accused, who tried to steal money through fake instruments team.
And it revealed the body was in a statement the agency {Euphrates News} received a copy of it today, for "enabling them to thwart the attempt one of the defendants {lawyer} pass instruments forgers worth {1,380,000,000} dinars through the Rasheed Bank - one in June branch in the province of Kirkuk, on and off the exchange amount, and adjust the accused and the issuance of an arrest warrant against the main defendant in the case. "
he added that" adjustment process that has been under a court order details refer to attempt the main culprit acquisition of the amount mentioned by pointing deposits fake in the smart card account using the port labeled {Castle flowers} return to him. "
investigation showed that the "instruments counterfeiters providers attributed their liberation to a customers bank, and Mshobin to the order of the accused President owner of the port that the oldest turn on Tzaaarhama accused {lawyer}."
the body was to "authored by a working group of its employees immediately upon receipt of information to, direct and move on to the headquarters of the bank and control of the accused and instruments counterfeiters, and presented to the competent investigating judge who decided to arrest the accused and the issuance of an arrest warrant against the accused President His port {Castle flowers}. "
the board of integrity announced today foiled an attempt to steal 7.5 billion dinars from Alravedan- Bank funds Waziriya branch 341, uncertain "tuned suspects who tried to steal the money through a forged letter of guarantee, in flagrante delicto" .anthy
http://ift.tt/1S4w652
[tlm724] another one ! Rasheed Bank this time
[Shredd] glad their security measures are working
[tlm724] the other one was Rafidan bank
[tlm724] indeed Shredd seems like they are trying to get as much as possible out the back door before the launch of the electronic monitoring system
[Shredd] all necessary dominoes in place and working
[Shredd] they'll need to continue to adjust from losses but good to see this
http://ift.tt/28CRAln
~~~~~~~~~~~~~~~~~~~~~
the body was to "authored by a working group of its employees immediately upon receipt of information to, direct and move on to the headquarters of the bank and control of the accused and instruments counterfeiters, and presented to the competent investigating judge who decided to arrest the accused and the issuance of an arrest warrant against the accused President His port {Castle flowers}. "
the board of integrity announced today foiled an attempt to steal 7.5 billion dinars from Alravedan- Bank funds Waziriya branch 341, uncertain "tuned suspects who tried to steal the money through a forged letter of guarantee, in flagrante delicto" .anthy
http://ift.tt/1S4w652
[tlm724] another one ! Rasheed Bank this time
[Shredd] glad their security measures are working
[tlm724] the other one was Rafidan bank
[tlm724] indeed Shredd seems like they are trying to get as much as possible out the back door before the launch of the electronic monitoring system
[Shredd] all necessary dominoes in place and working
[Shredd] they'll need to continue to adjust from losses but good to see this
http://ift.tt/28CRAln
~~~~~~~~~~~~~~~~~~~~~
via Dinar Recaps - Our Blog http://ift.tt/1S4weBA
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