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BondLady & Tlm724 News & Comments 7-21-16 Part 2 of 2
The opening of the national card project in the Sulaymaniyah
History of edits:: 7/21/2016 14:08 {Baghdad: Euphrates News} Interior Ministry announced Thursday the opening of the national card project in the province of Sulaymaniyah.
According to public sexual Director Maj . Gen. Mahdi al - Waeli in a ministry statement received by the agency {Euphrates News} a copy of it today , "that the measures continuing to open its own national card circles , whether in Kurdistan or the rest of the provinces as soon as the proceedings so special is complete.
For his part , praised the governor of Sulaimaniyah conveyances Feridun in the statement itself " the efforts of the Ministry of Interior , and those who made it official and on the big national efforts, blessed this step , which boil down to a lot of effort, time and eliminate the red tape and serve the interests of the citizen.
BondLady & Tlm724 News & Comments 7-21-16 Part 2 of 2
The opening of the national card project in the Sulaymaniyah
History of edits:: 7/21/2016 14:08 {Baghdad: Euphrates News} Interior Ministry announced Thursday the opening of the national card project in the province of Sulaymaniyah.
According to public sexual Director Maj . Gen. Mahdi al - Waeli in a ministry statement received by the agency {Euphrates News} a copy of it today , "that the measures continuing to open its own national card circles , whether in Kurdistan or the rest of the provinces as soon as the proceedings so special is complete.
For his part , praised the governor of Sulaimaniyah conveyances Feridun in the statement itself " the efforts of the Ministry of Interior , and those who made it official and on the big national efforts, blessed this step , which boil down to a lot of effort, time and eliminate the red tape and serve the interests of the citizen.
the statement said , " it was said at the opening ceremony of delivery of the issuance of the first card and delivered to the father of Shahd Bگzad Bakhtiar, amid welcoming citizens launching of the work of this great project and it is important in their wallets. as was also the opening of the Directorate of the establishment of Sulaimaniya. "
the Ministry of Interior has opened in Baghdad and several provinces unified national card project, and issued a circular need to adopt the card as an official alternative to the former archives and vowed to hold accountable for negligence in this file .anthy
http://ift.tt/2a3C0JE
http://ift.tt/2a0FLMw
Under the auspices of the Interior Ministry undersecretary for administrative and financial affairs .. the opening of the national card project in the Sulaymaniyah
Topic has been read 10 times 07/21/2016 13:30 Under the auspices of the Undersecretary of the Interior Ministry for Administrative and Financial Affairs, Dr. Aqeel al-Khazali, opened the national card project in the province of Sulaymaniyah.
And held the opening ceremony in the presence of Dr. conveyances Feridun governor of Sulaimaniyah and Mr. Jalal Karim and Deputy Interior Minister of the Kurdistan region, and Maj. Gen. Mahdi al-Waeli Director General nationality, Brigadier Nashat al-Khafaji, the national card manager, and general manager of the nationality of the Kurdistan region, and members of the Patriotic Union of Kurdistan party, as well as a large gathering of citizens .
She explained Mr. Director General Major General Mehdi sexual Waeli: The ongoing procedures for the opening of their own national card circles, whether in Kurdistan or the rest of the provinces as soon as the proceedings so special is complete.
For his part, he praised the governor of Sulaimaniya, a professor conveyances Feridun efforts of the Ministry of Interior and Gentlemen officials in charge of them and on the big national efforts, blessed this step, which boil down to a lot of effort, time and eliminate the red tape and serve the interests of the citizen.
During the opening ceremony of delivery of the issuance of the first card and delivered to the father of Shahd Bگzad Bakhtiar, the center welcomed the launching of citizens to work with this great project and it is important in their wallets. As has also set up the opening of the Directorate of Sulaimaniyah.
http://ift.tt/2a3Bxaq
http://ift.tt/2a0FPMj
~~~~~~~~~~~~~~~~~
Tlm724 Resurrecting Eden
https://www.youtube.com/watch?v=WhQhtOgXBvo#t=594
Bondlady I loved it ty so much timmy...I love the marshlands an so glad its coming bk to life and that now it will be protected Smile))))
http://ift.tt/2a3BziB
~~~~~~~~~~~~~~~~~~~~~~~~
the Ministry of Interior has opened in Baghdad and several provinces unified national card project, and issued a circular need to adopt the card as an official alternative to the former archives and vowed to hold accountable for negligence in this file .anthy
http://ift.tt/2a3C0JE
http://ift.tt/2a0FLMw
Under the auspices of the Interior Ministry undersecretary for administrative and financial affairs .. the opening of the national card project in the Sulaymaniyah
Topic has been read 10 times 07/21/2016 13:30 Under the auspices of the Undersecretary of the Interior Ministry for Administrative and Financial Affairs, Dr. Aqeel al-Khazali, opened the national card project in the province of Sulaymaniyah.
And held the opening ceremony in the presence of Dr. conveyances Feridun governor of Sulaimaniyah and Mr. Jalal Karim and Deputy Interior Minister of the Kurdistan region, and Maj. Gen. Mahdi al-Waeli Director General nationality, Brigadier Nashat al-Khafaji, the national card manager, and general manager of the nationality of the Kurdistan region, and members of the Patriotic Union of Kurdistan party, as well as a large gathering of citizens .
She explained Mr. Director General Major General Mehdi sexual Waeli: The ongoing procedures for the opening of their own national card circles, whether in Kurdistan or the rest of the provinces as soon as the proceedings so special is complete.
For his part, he praised the governor of Sulaimaniya, a professor conveyances Feridun efforts of the Ministry of Interior and Gentlemen officials in charge of them and on the big national efforts, blessed this step, which boil down to a lot of effort, time and eliminate the red tape and serve the interests of the citizen.
During the opening ceremony of delivery of the issuance of the first card and delivered to the father of Shahd Bگzad Bakhtiar, the center welcomed the launching of citizens to work with this great project and it is important in their wallets. As has also set up the opening of the Directorate of Sulaimaniyah.
http://ift.tt/2a3Bxaq
http://ift.tt/2a0FPMj
~~~~~~~~~~~~~~~~~
Tlm724 Resurrecting Eden
https://www.youtube.com/watch?v=WhQhtOgXBvo#t=594
Bondlady I loved it ty so much timmy...I love the marshlands an so glad its coming bk to life and that now it will be protected Smile))))
http://ift.tt/2a3BziB
~~~~~~~~~~~~~~~~~~~~~~~~
IMF says no reason to devalue Iraqi Dinar
(IraqiNews.com) BAGHDAD – International Monetary Fund (IMF) has approved a three-year $5.34 billion loan for Iraq. The loan is focussed on implementing economic and financial policies to help Iraq cope with lower oil prices and ensure debt sustainability.
In a statement issued by the IMF it was mentioned that the loan would be provided under the ‘Stand-By Agreement’ facility and it includes measures to protect vulnerable populations.
In an interview with IMF news, the transcription of which was also obtained by Iraqi News, IMF mission chief for Iraq Christian Josz said, “The program is designed with a focus to- reduce budget spending and stabilize debt; protect spending on the social front to ease the lives of the poorest, IDPs and refugees; improve the quality of public spending and begin the process of restructuring state-owned banks.”
“Iraq has maintained a peg to the US dollar for years and it has served the Iraqi economy well. The peg helps provide stability amidst a highly uncertain environment, especially with policy capacity weakened by the fight against ISIS,”Josz said, adding, “Iraq is predominantly an oil exporter and devaluing the Dinar would have minimal bearing on the economy’s overall trade competitiveness.”
The authorities can also spur private sector-led growth by restructuring state-owned enterprises and prioritizing investment projects, which will help improve infrastructure development,” Josz further said, before concluding, “The authorities are committed to maintaining the Iraqi Dinar’s peg to the US dollar under these circumstances, and we support this view. There is no reason to devalue the Iraqi dinar.”
| July 21, 2016 at 4:43 pm | Categories: Reports & News | URL: http://wp.me/p4A3k0-Yo
http://ift.tt/2a0FN6R]
tlm724 Thanks for posting this one BondLady "IMF says no reason to devalue Iraqi Dinar". I found the direct quote by the IMF mission chief for Iraq Christian Josz on July 14, 2016 on the IMF site :
IMF News: Can you explain the significance of maintaining the Iraqi Dinar’s peg to the U.S. dollar?
Josz: Iraq has maintained a peg to the U.S. dollar for years, and it has served the Iraqi economy well. The peg helps provide stability amidst a highly uncertain environment, especially with policy capacity weakened by the fight against ISIS. Under current circumstances and given the nature of the shocks, moving towards more exchange rate flexibility would not be warranted for two key reasons.
First, Iraq is predominantly an oil exporter, and devaluing the Dinar would have minimal bearing on the economy’s overall trade competitiveness.
Second, there is a notable degree of import dependence—almost half of Iraq’s consumption needs are imported—and devaluation would immediately trigger a spike in inflation for most food and other consumer goods, which would exacerbate already difficult social tensions. The authorities are committed to maintaining the Iraqi Dinar’s peg to the U.S. dollar under these circumstances, and we support this view.
http://ift.tt/29Hp3nF
(In it's entirety)
Iraqi dinars are exchanged for dollars at the busy Shorga market in Baghdad, Iraq: a key
priority in the new program is maintaining the exchange rate peg to the U.S. dollar, says IMF
(photo: Sabah Arar/REX/Newscom)
COUNTRIES & REGIONS
Iraq Gets $5.34 Billion IMF Loan to Support Economic Stability
IMF News
July 14, 2016 Iraqi economy faces double shock of lower oil prices, rising security challenges
IMF loan supports Iraqi government’s economic reform program, ensures debt sustainability
Program includes measures to protect the poor, curb corruption
The IMF has approved a three-year, $5.34 Billion loan for Iraq focused on implementing economic and financial policies to help the country cope with lower oil prices and ensure debt sustainability.
The loan will be provided under the Stand-By Arrangement facility and also includes measures to protect vulnerable populations—critical in a time of ongoing conflict, which has resulted in over 4 million internally displaced people.
The program builds upon the success of the recent Staff-Monitored Program, which the authorities started in November 2015 to address the double shock of ISIS attacks and the sharp drop in global oil prices, and will help close a financing gap of about $18 Billion.
Speaking to IMF News, Christian Josz, IMF mission chief for Iraq, explains the underlying reasons for the loan and the main goals of the IMF-supported program.
IMF News: Why is Iraq requesting financial assistance from the IMF now?
Josz: Iraq has been hit with a double shock for an extended time period.
First, the ISIS insurgency since mid-2014 has created a humanitarian and social crisis that unfolded into millions of internally displaced persons, with destruction to assets and infrastructure leading to disruptions in production and in trade routes. The non-oil economy sharply contracted as a result.
Second, the steep fall in global oil prices—on which Iraq depends almost entirely for its government revenue—has made the situation worse, culminating in both internal and external imbalances, large and rising budget deficits and increasing public debt, as well as losses in official foreign exchange reserves and some pressure on the Iraqi Dinar.
As a result, the Iraqi authorities approached the IMF with a request for emergency assistance, and we worked with the authorities to provide emergency financing of US$1.2 billion in July 2015 under the Rapid Financing Instrument.
However, the intensification of the two shocks thereafter led the authorities to request a longer-term engagement with us that would not only address the fallout from the crisis, but also lay the ground for long-delayed, deep-seated reforms.
In this vein, a staff-monitored program (a program with no attached lending) started in November 2015—at the Authorities’ request—to instill the necessary conditions, and build the required capacity and track record to move to the current Stand-By Arrangement.
IMF News: What are the key policy components of Iraq's program and how will it help the country?
Josz: The program is designed with a focus on four key elements: reduce budget spending and restore public finances to a healthy state and stabilize debt; protect spending on the social front to ease the lives of the poorest, internally displaced people and refugees; improve the quality of public spending and prevent accumulation of unpaid debt through improvements in public financial management; and begin the process of restructuring state-owned banks to reduce their dominance in the banking system, thereby mitigating financial sector risks and preserving the sector’s stability.
IMF News: How has Iraq’s economy been affected by ongoing conflicts and will this hinder the program’s implementation?
Josz: On the one hand, the non-oil economy contracted by 19 percent in 2015 and is expected to continue to contract in 2016. On the other hand, the oil sector, thus far spared by the ravages of war, grew by 13 percent in 2015 and by more than 20 percent during the first five months of 2016, helping to support the broader economy, critical budget outlays, and official foreign exchange reserves amid the double shock.
While there are risks to program implementation—such as the fight against ISIS, subdued global oil prices, and uncertainty around the budget sharing agreement between the federal government and the Kurdistan Regional Government—the policy responses outlined above will help stabilize Iraq’s economy.
IMF News: Can you explain the significance of maintaining the Iraqi Dinar’s peg to the U.S. dollar?
Josz: Iraq has maintained a peg to the U.S. dollar for years, and it has served the Iraqi economy well. The peg helps provide stability amidst a highly uncertain environment, especially with policy capacity weakened by the fight against ISIS. Under current circumstances and given the nature of the shocks, moving towards more exchange rate flexibility would not be warranted for two key reasons.
First, Iraq is predominantly an oil exporter, and devaluing the Dinar would have minimal bearing on the economy’s overall trade competitiveness.
Second, there is a notable degree of import dependence—almost half of Iraq’s consumption needs are imported—and devaluation would immediately trigger a spike in inflation for most food and other consumer goods, which would exacerbate already difficult social tensions. The authorities are committed to maintaining the Iraqi Dinar’s peg to the U.S. dollar under these circumstances, and we support this view.
(IraqiNews.com) BAGHDAD – International Monetary Fund (IMF) has approved a three-year $5.34 billion loan for Iraq. The loan is focussed on implementing economic and financial policies to help Iraq cope with lower oil prices and ensure debt sustainability.
In a statement issued by the IMF it was mentioned that the loan would be provided under the ‘Stand-By Agreement’ facility and it includes measures to protect vulnerable populations.
In an interview with IMF news, the transcription of which was also obtained by Iraqi News, IMF mission chief for Iraq Christian Josz said, “The program is designed with a focus to- reduce budget spending and stabilize debt; protect spending on the social front to ease the lives of the poorest, IDPs and refugees; improve the quality of public spending and begin the process of restructuring state-owned banks.”
“Iraq has maintained a peg to the US dollar for years and it has served the Iraqi economy well. The peg helps provide stability amidst a highly uncertain environment, especially with policy capacity weakened by the fight against ISIS,”Josz said, adding, “Iraq is predominantly an oil exporter and devaluing the Dinar would have minimal bearing on the economy’s overall trade competitiveness.”
The authorities can also spur private sector-led growth by restructuring state-owned enterprises and prioritizing investment projects, which will help improve infrastructure development,” Josz further said, before concluding, “The authorities are committed to maintaining the Iraqi Dinar’s peg to the US dollar under these circumstances, and we support this view. There is no reason to devalue the Iraqi dinar.”
| July 21, 2016 at 4:43 pm | Categories: Reports & News | URL: http://wp.me/p4A3k0-Yo
http://ift.tt/2a0FN6R]
tlm724 Thanks for posting this one BondLady "IMF says no reason to devalue Iraqi Dinar". I found the direct quote by the IMF mission chief for Iraq Christian Josz on July 14, 2016 on the IMF site :
IMF News: Can you explain the significance of maintaining the Iraqi Dinar’s peg to the U.S. dollar?
Josz: Iraq has maintained a peg to the U.S. dollar for years, and it has served the Iraqi economy well. The peg helps provide stability amidst a highly uncertain environment, especially with policy capacity weakened by the fight against ISIS. Under current circumstances and given the nature of the shocks, moving towards more exchange rate flexibility would not be warranted for two key reasons.
First, Iraq is predominantly an oil exporter, and devaluing the Dinar would have minimal bearing on the economy’s overall trade competitiveness.
Second, there is a notable degree of import dependence—almost half of Iraq’s consumption needs are imported—and devaluation would immediately trigger a spike in inflation for most food and other consumer goods, which would exacerbate already difficult social tensions. The authorities are committed to maintaining the Iraqi Dinar’s peg to the U.S. dollar under these circumstances, and we support this view.
http://ift.tt/29Hp3nF
(In it's entirety)
Iraqi dinars are exchanged for dollars at the busy Shorga market in Baghdad, Iraq: a key
priority in the new program is maintaining the exchange rate peg to the U.S. dollar, says IMF
(photo: Sabah Arar/REX/Newscom)
COUNTRIES & REGIONS
Iraq Gets $5.34 Billion IMF Loan to Support Economic Stability
IMF News
July 14, 2016 Iraqi economy faces double shock of lower oil prices, rising security challenges
IMF loan supports Iraqi government’s economic reform program, ensures debt sustainability
Program includes measures to protect the poor, curb corruption
The IMF has approved a three-year, $5.34 Billion loan for Iraq focused on implementing economic and financial policies to help the country cope with lower oil prices and ensure debt sustainability.
The loan will be provided under the Stand-By Arrangement facility and also includes measures to protect vulnerable populations—critical in a time of ongoing conflict, which has resulted in over 4 million internally displaced people.
The program builds upon the success of the recent Staff-Monitored Program, which the authorities started in November 2015 to address the double shock of ISIS attacks and the sharp drop in global oil prices, and will help close a financing gap of about $18 Billion.
Speaking to IMF News, Christian Josz, IMF mission chief for Iraq, explains the underlying reasons for the loan and the main goals of the IMF-supported program.
IMF News: Why is Iraq requesting financial assistance from the IMF now?
Josz: Iraq has been hit with a double shock for an extended time period.
First, the ISIS insurgency since mid-2014 has created a humanitarian and social crisis that unfolded into millions of internally displaced persons, with destruction to assets and infrastructure leading to disruptions in production and in trade routes. The non-oil economy sharply contracted as a result.
Second, the steep fall in global oil prices—on which Iraq depends almost entirely for its government revenue—has made the situation worse, culminating in both internal and external imbalances, large and rising budget deficits and increasing public debt, as well as losses in official foreign exchange reserves and some pressure on the Iraqi Dinar.
As a result, the Iraqi authorities approached the IMF with a request for emergency assistance, and we worked with the authorities to provide emergency financing of US$1.2 billion in July 2015 under the Rapid Financing Instrument.
However, the intensification of the two shocks thereafter led the authorities to request a longer-term engagement with us that would not only address the fallout from the crisis, but also lay the ground for long-delayed, deep-seated reforms.
In this vein, a staff-monitored program (a program with no attached lending) started in November 2015—at the Authorities’ request—to instill the necessary conditions, and build the required capacity and track record to move to the current Stand-By Arrangement.
IMF News: What are the key policy components of Iraq's program and how will it help the country?
Josz: The program is designed with a focus on four key elements: reduce budget spending and restore public finances to a healthy state and stabilize debt; protect spending on the social front to ease the lives of the poorest, internally displaced people and refugees; improve the quality of public spending and prevent accumulation of unpaid debt through improvements in public financial management; and begin the process of restructuring state-owned banks to reduce their dominance in the banking system, thereby mitigating financial sector risks and preserving the sector’s stability.
IMF News: How has Iraq’s economy been affected by ongoing conflicts and will this hinder the program’s implementation?
Josz: On the one hand, the non-oil economy contracted by 19 percent in 2015 and is expected to continue to contract in 2016. On the other hand, the oil sector, thus far spared by the ravages of war, grew by 13 percent in 2015 and by more than 20 percent during the first five months of 2016, helping to support the broader economy, critical budget outlays, and official foreign exchange reserves amid the double shock.
While there are risks to program implementation—such as the fight against ISIS, subdued global oil prices, and uncertainty around the budget sharing agreement between the federal government and the Kurdistan Regional Government—the policy responses outlined above will help stabilize Iraq’s economy.
IMF News: Can you explain the significance of maintaining the Iraqi Dinar’s peg to the U.S. dollar?
Josz: Iraq has maintained a peg to the U.S. dollar for years, and it has served the Iraqi economy well. The peg helps provide stability amidst a highly uncertain environment, especially with policy capacity weakened by the fight against ISIS. Under current circumstances and given the nature of the shocks, moving towards more exchange rate flexibility would not be warranted for two key reasons.
First, Iraq is predominantly an oil exporter, and devaluing the Dinar would have minimal bearing on the economy’s overall trade competitiveness.
Second, there is a notable degree of import dependence—almost half of Iraq’s consumption needs are imported—and devaluation would immediately trigger a spike in inflation for most food and other consumer goods, which would exacerbate already difficult social tensions. The authorities are committed to maintaining the Iraqi Dinar’s peg to the U.S. dollar under these circumstances, and we support this view.
IMF News: How will the program help protect the poor and internally displaced populations?
Josz: The program has set a floor on a number of budget items that are considered crucial for social spending, with the objective of protecting the most vulnerable. This covers spending directed towards the social safety net, the public distribution system (subsidies on food items, wheat, rice), agricultural product subsidies, transfers and assistance for internally displaced populations and refugees, and spending for salaries and goods and services by the ministries of health and education.
IMF News: What measures could the Iraqi government take now to lay the basis for private sector‑led growth in the future?
Josz: By preserving macroeconomic stability, including debt sustainability, the Iraqi authorities are laying the ground for private sector development. By maintaining fiscal discipline, they will create the fiscal space to pay their suppliers and international oil companies on time, which is essential to maintain financial sector stability and oil production.
Furthermore, the authorities can also spur private sector-led growth by restructuring state-owned enterprises—including the six state-owned banks—and prioritizing investment projects, such as in the electricity sector, which will help improve infrastructure development.
Mdmtexas So guys did you put the add on there. Do you think that Iraq will devalue the dinar? After reading yesterday's article and today's I am more confused than ever. Is this smoke and mirrors?
I mean I cant see them going a whole lot cheaper than they are now, especially with all the resources they have. I and I thought a lot of others though it was undervalued not overvalued.
I am also confused because I thought part of the stipulations of the IMF giving them that money was to start paying down their debt but it seems to growing by the hour. So can you guys help clear all this up>
http://ift.tt/2a0FKIh
Josz: The program has set a floor on a number of budget items that are considered crucial for social spending, with the objective of protecting the most vulnerable. This covers spending directed towards the social safety net, the public distribution system (subsidies on food items, wheat, rice), agricultural product subsidies, transfers and assistance for internally displaced populations and refugees, and spending for salaries and goods and services by the ministries of health and education.
IMF News: What measures could the Iraqi government take now to lay the basis for private sector‑led growth in the future?
Josz: By preserving macroeconomic stability, including debt sustainability, the Iraqi authorities are laying the ground for private sector development. By maintaining fiscal discipline, they will create the fiscal space to pay their suppliers and international oil companies on time, which is essential to maintain financial sector stability and oil production.
Furthermore, the authorities can also spur private sector-led growth by restructuring state-owned enterprises—including the six state-owned banks—and prioritizing investment projects, such as in the electricity sector, which will help improve infrastructure development.
Mdmtexas So guys did you put the add on there. Do you think that Iraq will devalue the dinar? After reading yesterday's article and today's I am more confused than ever. Is this smoke and mirrors?
I mean I cant see them going a whole lot cheaper than they are now, especially with all the resources they have. I and I thought a lot of others though it was undervalued not overvalued.
I am also confused because I thought part of the stipulations of the IMF giving them that money was to start paying down their debt but it seems to growing by the hour. So can you guys help clear all this up>
http://ift.tt/2a0FKIh
via Dinar Recaps - Our Blog http://ift.tt/2a3BsDZ
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