Post From Peoples Dinar
Herman Smith’s Investment Overview 7-2-16 Part 2 of 3
25) IMF loan a necessary evil
June 9, 2016 The IMF is also known to all is the global organization of the United Nations was created after the end of World War II and was the primary purpose of the created is for the reconstruction of countries affected and destroyed in the war, especially the major powers, and then many countries have joined this fund and contribute to each country with Mali,
according to its possibilities placed in the Fund 's treasury and provides instructions that it is the right of any Member State in which to apply for a financial loan for specific purposes in accordance with instructions such as natural disasters and wars big economic problems and give them the benefits of soft and repayment will be over a long period after the submission of sufficient guarantees by the borrowing countries,
this talk is officially declared, but the case with on the ground is quite different where control Bmekdrath a number of major countries, led by the United States of America , where these countries put the bulk of the deposits found in his closet and helped her so economic conditions burgeoning making them so is controlling the destiny of the entire organization and has the final say in all important decisions, particularly in the granting of loans to the Member States, which continues the march of the international Monetary Fund and its achievements since its inception , and yet find that the first beneficiary of its existence are the major countries, especially to take advantage of loans under the pretext of large fiscal balance of deposits placed by it.
~~~
Herman Smith’s Investment Overview 7-2-16 Part 2 of 3
25) IMF loan a necessary evil
June 9, 2016 The IMF is also known to all is the global organization of the United Nations was created after the end of World War II and was the primary purpose of the created is for the reconstruction of countries affected and destroyed in the war, especially the major powers, and then many countries have joined this fund and contribute to each country with Mali,
according to its possibilities placed in the Fund 's treasury and provides instructions that it is the right of any Member State in which to apply for a financial loan for specific purposes in accordance with instructions such as natural disasters and wars big economic problems and give them the benefits of soft and repayment will be over a long period after the submission of sufficient guarantees by the borrowing countries,
this talk is officially declared, but the case with on the ground is quite different where control Bmekdrath a number of major countries, led by the United States of America , where these countries put the bulk of the deposits found in his closet and helped her so economic conditions burgeoning making them so is controlling the destiny of the entire organization and has the final say in all important decisions, particularly in the granting of loans to the Member States, which continues the march of the international Monetary Fund and its achievements since its inception , and yet find that the first beneficiary of its existence are the major countries, especially to take advantage of loans under the pretext of large fiscal balance of deposits placed by it.
~~~
We find the other hand put these countries obstacles and conditions are harsh in front of the other Member States, especially the developing ones, vulnerable economically even been granted a loan to a developing country, the conditions laid weigh the economy of this country , restrictions and difficulties and negative effects effects remain for many years has paid for generations,
so I think that resorting to such loans is the wrong choice results will be disastrous for the borrowing country, and Iraq, as a result of the difficult economic conditions experienced by the result of the decline in world oil prices and the challenges of terrorism and political rivalries exist and that have brought the country to the big economic problems and become unable to overcome forced to seek loans from the international Monetary Fund to overcome these crises because it is Ktouk final deliverance of the country 's emergence from a major breakdown in all aspects of the economy,
the demand for fund management table years and the talks and negotiations between the Iraqi government and the Fund since going on all these years and finally after a determined effort has to approve this $ 13 billion on parts of the loan and harsh conditions have not announce details of the transparency of public opinion,
an advertiser that the loan would be the first part of it on the first two stages in funding accelerated worth 88 million dinars and unconditionally and its purpose to cope with fluctuations in Iraq 's balance of payments impact of lower oil prices,
while the second phase of a grant amount of five billion dollars and a half in three years in the form of payments will be in accordance with the Convention on the standby credit, which was signed by Iraq with the Fund earlier, as it obliges Iraq 's implementation of important conditions and difficult by the Fund put in place to ensure you get the loan.
Maorid discussed in these few lines that this loan which came the government to him , forcing would have advantages and disadvantages of either the benefits it will help Iraq on the sustainability of high -profile battle waged against Daash terrorist and which consumes the bulk of the country 's budget momentum
as well as enable Iraq to get out of the serious economic predicament and would force the Iraqi government and in accordance with the conditions set by the Fund to take real steps to reform the economy, the most important is gradually emerge from the impact of the rentier economy , which depends mainly on oil revenues and try to create a real development in different industrial, agricultural and other sectors ,
and will force the government also to conduct reforms in the banking sector , which lives its worst and other interest is that the World Bank will impose strict control over the implementation of the loan to all stages for fear of rampant corruption in all state institutions and this condition , I believe , is the one who will help likelihood of success of its application,
and the damage this loan are many of them that he would put particular strain of Iraq debt for many years to negative effects and will leave clearly on all aspects of life as well as the arbitrary conditions unexpressed by parties for fear of public opinion ,
a withdrawal of government support to some of the things that affect the lives of citizens directly, including the fuel and the ration card rates and prevent the allocation of grades in state institutions for at least three years and withholding some allowances for staff such as marital allowances and other things that will pay the price citizens are gradually and not all at once even bear the shock,
as well is important and , according to some leaks that have viewed that more than one - third of this loan will be allocated to the Kurdistan any territory by more than the 17% allocated to the region much with not oblige the region to apply strict controls that have been imposed on Baghdad.
26) Parliamentary calls "a major economic revolution" in Iraq
1-9-2016 BAGHDAD / Obelisk: he called the Parliamentary Finance Committee member Hossam punitive, Saturday, to start a major economic B'thorh 'to face the current financial crisis experienced by the country, while stressing the need to launch a' major campaign 'to support the national industry.
He said punitive in a statement published by the local media and I followed 'Obelisk', that 'the current financial crisis we are experiencing requires a concerted and cooperation of all the faithful in order to overcome them and move forward in the country to the ranks of developed countries, there are several proposals that would add considerable financial resources into the treasury of the State of Iraq' , pointing out that 'among those proposals is to launch a major campaign to support the national industry and stop the import of products that have local alternatives'.
Punitive and urged the importance of 'Activating tariff in all border crossing points, including the Kurdistan region, and stimulate the private sector by starting to contract with major international companies to implement a number of residential, service and health projects and even security in a way payment on credit, which will provide many job opportunities and reduce the pressure on the rate Government to create jobs and reduce unemployment. "
Punitive and called for the 'need for the Government with the help of experts of finance and economy and to begin a major economic revolution to save the country from a bad financial situation and meet the aspiration and hopes of the citizens', demanding B'alasraa to resolve this serious file and not to cause obtaining a severe crisis that could lead us into the abyss'.
The punitive 'the importance of reviewing auction currency at the central bank and find other means to keep the Iraqi dinar exchange rate, and the launch of an internal bonds for citizens and an interest rate of not less than 7% instead of the foreign loans of up Voidha to more than 10%'.
The House of Representatives voted in (December 16, 2015) by a vote of those present on the draft budget law for fiscal 2016 valued at more than 105 trillion dinars, and a deficit of more than 24 trillion dinars, considered on the basis of the price of a barrel of oil to 45 dollars.
27) Raed al-Hashemi: delete the zeros will lead to queues in banks to replace banknotes
1-9-2016 Stressed economist Raed al-Hashemi, the deletion of zeros from the local currency needs to be political, security and economic stability, noting that the feminine currency will lead to the feminine economy and facilitate the process of the payments system and raises the value of the currency.
Hashemi said in a dialogue with the (Journal), that "the economic environment you need to create a thoughtful to apply the deletion process through procedures and financial and banking decisions made by the financial authority in the country ".
* raise zeros from the Iraqi currency has a benefit of the Iraqi economy?
- The process of deletion of zeros is a necessary and important step comes as part of the need for the process of administrative reform of the coin contribute -lo been correctly applied with a choice of Almnasp- time in reducing transaction costs and cash transactions in the economic process, and reduce the money supply in the country's size and to facilitate the calculations and reduce the inflating figures not to mention that the issuance of small groups will facilitate policy accounts price.
* What is the correct mechanisms that must be followed until the process of lifting the zeros?
-there are several mechanisms including the selection of the appropriate timing at which the Iraqi economy (one-sided) in a state of stability and economic environment and to create a thoughtful to apply the deletion process and this needs to be procedures for financial and banking and the decisions taken by the Authority Finance in the country, and the need to create a media and psychological community to accept such a decision by the intensive media campaigns before proceeding with implementation, and the implementation of the resolution on the stages of time and leeway enough fear of the events of confusion in the Iraqi market.
* What are the concerns of the adoption of the process of lifting the zeros?
-ary a lot economists that the process of deleting three zeros will lead to chaos and confusion in the domestic market and the spread of the phenomenon of "monetary illusion" because there are "two currencies" old and new and Sastglha traders to raise the goods and prices of goods.
as well as the fear of occurrence of chaos in the Iraqi street and stand in a new queues at the gates banks to replace the current Iraqi banknotes with those of the new banknotes. Which will contribute to the emergence of speculators on the black market, taking advantage of the chaos that will arise from the process of the currency switch.
As well as there are fears of counterfeiters and (mafias) money laundering and smugglers currency who will take advantage of the new situation in the "wash" the old Iraqi dinars counterfeit and replaced by new or smuggling of genuine Iraqi dinars out of the country for the purposes of terrorism and organized crime, which will lead to lethality economic security of Iraq .
* Do you think that the lifting of the zeroes will affect the economy and social stability?
- Yes affect by reducing its currency and thus will lead to the feminine Iraqi economy and facilitate the Iraqi payments system process and raise the value of the currency at least partially slow, and will affect the process in the creation of a worker and myself technician can play a positive role in strengthening the Iraqi dinar, provided that combined with a package of measures to take coordinated and good policies between monetary and fiscal authorities and other episodes concerned the economy.
28) Urgent .. Iraq gets a financial certificate enables him to deal with international banks with high confidence
05/19/2016 {BAGHDAD: Iraq's Euphrates News} got a financial certification by the IMF gives him a chance to deal with all international banks with high confidence.
The International Monetary Fund, and international partners, the World Bank had agreed to give Iraq a loan of {15} billion dollars ..itba h .
29) Urgent ready credit gives Iraq a loan of $ 15 billion securities certificate to deal with international banks
05/19/2016 [Wayne - Baghdad] to grant the International Monetary Fund and World Bank Iraq, according to the agreement to prepare the credit loan of $ 15 billion, in addition to a financial certification by the IMF gives him a chance to deal with all international banks with high confidence.
The finance ministry announced in a statement today, the conclusion of negotiations between the government delegation and the International Monetary Fund, and to reach a standby credit agreement [SBA] at the expert level.
It said that resulted from the negotiations, agree on a program to prepare the credit arrangements , which provides financial support for Iraq during the next three years , enabling it to continue to provide the war requirements of the entity Daash terrorist edit Iraqi territory from the claws and deficit reduction and financial gap and achieve financial and economic reform real.
"ministry said that" the government delegation was keen that does not affect this program on government spending in the area of social and health services and education and a network of social welfare and humanitarian programs. "
According to news access of Iraq, last Tuesday, a loan from the international Monetary Fund worth $ 13 billion with interest estimated at 1.5 percent.
as governor of the Iraqi Central Bank [agency] on the Keywords that Iraq will get loans from the international Fund for up to $ 15 billion in the next two years.
among Keywords in a newspaper interview , "Iraq is expected to happen this year at $ 7 billion or more, and in principle in the next two years could be that Iraq gets $ 15 billion, and these amounts may be to say that it has become almost certain. "
An Iraqi government delegation senior headed by Finance Minister Hoshyar Zebari held talks since last Saturday in the Jordanian capital Amman with the international Monetary Fund in order to conclude the credit readiness will provide Iraq with financial support to enable it to overcome the financial crisis and reduce the gap in the agreement the budget so as to enhance economic and financial system of the country 's reform process
30) Parliamentary Finance: The government plans to borrow about $15 billion from international banks
05/11/2015 Baghdad - INA / revealed a member of the Parliamentary Finance Committee, on Thursday, for the determination of the federal government to borrow about $ 15 billion from international banks to meet the projected shortfall in the general budget.
A member of the Finance Committee Masood Haider told the "Iraqi News Agency" that "the federal government It planned to borrow an amount of $ 14.5 billion from international banks or the World Bank to bridge the shortfall in the budget of 2016, "
and added that "the Legal Committee and the Presidency of the Council of Representatives has authorized the Finance Minister Hoshyar Zebari to this issue," noting that "the government will give guarantees for borrowing This amount does not affect the economic future of the country. "
so I think that resorting to such loans is the wrong choice results will be disastrous for the borrowing country, and Iraq, as a result of the difficult economic conditions experienced by the result of the decline in world oil prices and the challenges of terrorism and political rivalries exist and that have brought the country to the big economic problems and become unable to overcome forced to seek loans from the international Monetary Fund to overcome these crises because it is Ktouk final deliverance of the country 's emergence from a major breakdown in all aspects of the economy,
the demand for fund management table years and the talks and negotiations between the Iraqi government and the Fund since going on all these years and finally after a determined effort has to approve this $ 13 billion on parts of the loan and harsh conditions have not announce details of the transparency of public opinion,
an advertiser that the loan would be the first part of it on the first two stages in funding accelerated worth 88 million dinars and unconditionally and its purpose to cope with fluctuations in Iraq 's balance of payments impact of lower oil prices,
while the second phase of a grant amount of five billion dollars and a half in three years in the form of payments will be in accordance with the Convention on the standby credit, which was signed by Iraq with the Fund earlier, as it obliges Iraq 's implementation of important conditions and difficult by the Fund put in place to ensure you get the loan.
Maorid discussed in these few lines that this loan which came the government to him , forcing would have advantages and disadvantages of either the benefits it will help Iraq on the sustainability of high -profile battle waged against Daash terrorist and which consumes the bulk of the country 's budget momentum
as well as enable Iraq to get out of the serious economic predicament and would force the Iraqi government and in accordance with the conditions set by the Fund to take real steps to reform the economy, the most important is gradually emerge from the impact of the rentier economy , which depends mainly on oil revenues and try to create a real development in different industrial, agricultural and other sectors ,
and will force the government also to conduct reforms in the banking sector , which lives its worst and other interest is that the World Bank will impose strict control over the implementation of the loan to all stages for fear of rampant corruption in all state institutions and this condition , I believe , is the one who will help likelihood of success of its application,
and the damage this loan are many of them that he would put particular strain of Iraq debt for many years to negative effects and will leave clearly on all aspects of life as well as the arbitrary conditions unexpressed by parties for fear of public opinion ,
a withdrawal of government support to some of the things that affect the lives of citizens directly, including the fuel and the ration card rates and prevent the allocation of grades in state institutions for at least three years and withholding some allowances for staff such as marital allowances and other things that will pay the price citizens are gradually and not all at once even bear the shock,
as well is important and , according to some leaks that have viewed that more than one - third of this loan will be allocated to the Kurdistan any territory by more than the 17% allocated to the region much with not oblige the region to apply strict controls that have been imposed on Baghdad.
26) Parliamentary calls "a major economic revolution" in Iraq
1-9-2016 BAGHDAD / Obelisk: he called the Parliamentary Finance Committee member Hossam punitive, Saturday, to start a major economic B'thorh 'to face the current financial crisis experienced by the country, while stressing the need to launch a' major campaign 'to support the national industry.
He said punitive in a statement published by the local media and I followed 'Obelisk', that 'the current financial crisis we are experiencing requires a concerted and cooperation of all the faithful in order to overcome them and move forward in the country to the ranks of developed countries, there are several proposals that would add considerable financial resources into the treasury of the State of Iraq' , pointing out that 'among those proposals is to launch a major campaign to support the national industry and stop the import of products that have local alternatives'.
Punitive and urged the importance of 'Activating tariff in all border crossing points, including the Kurdistan region, and stimulate the private sector by starting to contract with major international companies to implement a number of residential, service and health projects and even security in a way payment on credit, which will provide many job opportunities and reduce the pressure on the rate Government to create jobs and reduce unemployment. "
Punitive and called for the 'need for the Government with the help of experts of finance and economy and to begin a major economic revolution to save the country from a bad financial situation and meet the aspiration and hopes of the citizens', demanding B'alasraa to resolve this serious file and not to cause obtaining a severe crisis that could lead us into the abyss'.
The punitive 'the importance of reviewing auction currency at the central bank and find other means to keep the Iraqi dinar exchange rate, and the launch of an internal bonds for citizens and an interest rate of not less than 7% instead of the foreign loans of up Voidha to more than 10%'.
The House of Representatives voted in (December 16, 2015) by a vote of those present on the draft budget law for fiscal 2016 valued at more than 105 trillion dinars, and a deficit of more than 24 trillion dinars, considered on the basis of the price of a barrel of oil to 45 dollars.
27) Raed al-Hashemi: delete the zeros will lead to queues in banks to replace banknotes
1-9-2016 Stressed economist Raed al-Hashemi, the deletion of zeros from the local currency needs to be political, security and economic stability, noting that the feminine currency will lead to the feminine economy and facilitate the process of the payments system and raises the value of the currency.
Hashemi said in a dialogue with the (Journal), that "the economic environment you need to create a thoughtful to apply the deletion process through procedures and financial and banking decisions made by the financial authority in the country ".
* raise zeros from the Iraqi currency has a benefit of the Iraqi economy?
- The process of deletion of zeros is a necessary and important step comes as part of the need for the process of administrative reform of the coin contribute -lo been correctly applied with a choice of Almnasp- time in reducing transaction costs and cash transactions in the economic process, and reduce the money supply in the country's size and to facilitate the calculations and reduce the inflating figures not to mention that the issuance of small groups will facilitate policy accounts price.
* What is the correct mechanisms that must be followed until the process of lifting the zeros?
-there are several mechanisms including the selection of the appropriate timing at which the Iraqi economy (one-sided) in a state of stability and economic environment and to create a thoughtful to apply the deletion process and this needs to be procedures for financial and banking and the decisions taken by the Authority Finance in the country, and the need to create a media and psychological community to accept such a decision by the intensive media campaigns before proceeding with implementation, and the implementation of the resolution on the stages of time and leeway enough fear of the events of confusion in the Iraqi market.
* What are the concerns of the adoption of the process of lifting the zeros?
-ary a lot economists that the process of deleting three zeros will lead to chaos and confusion in the domestic market and the spread of the phenomenon of "monetary illusion" because there are "two currencies" old and new and Sastglha traders to raise the goods and prices of goods.
as well as the fear of occurrence of chaos in the Iraqi street and stand in a new queues at the gates banks to replace the current Iraqi banknotes with those of the new banknotes. Which will contribute to the emergence of speculators on the black market, taking advantage of the chaos that will arise from the process of the currency switch.
As well as there are fears of counterfeiters and (mafias) money laundering and smugglers currency who will take advantage of the new situation in the "wash" the old Iraqi dinars counterfeit and replaced by new or smuggling of genuine Iraqi dinars out of the country for the purposes of terrorism and organized crime, which will lead to lethality economic security of Iraq .
* Do you think that the lifting of the zeroes will affect the economy and social stability?
- Yes affect by reducing its currency and thus will lead to the feminine Iraqi economy and facilitate the Iraqi payments system process and raise the value of the currency at least partially slow, and will affect the process in the creation of a worker and myself technician can play a positive role in strengthening the Iraqi dinar, provided that combined with a package of measures to take coordinated and good policies between monetary and fiscal authorities and other episodes concerned the economy.
28) Urgent .. Iraq gets a financial certificate enables him to deal with international banks with high confidence
05/19/2016 {BAGHDAD: Iraq's Euphrates News} got a financial certification by the IMF gives him a chance to deal with all international banks with high confidence.
The International Monetary Fund, and international partners, the World Bank had agreed to give Iraq a loan of {15} billion dollars ..itba h .
29) Urgent ready credit gives Iraq a loan of $ 15 billion securities certificate to deal with international banks
05/19/2016 [Wayne - Baghdad] to grant the International Monetary Fund and World Bank Iraq, according to the agreement to prepare the credit loan of $ 15 billion, in addition to a financial certification by the IMF gives him a chance to deal with all international banks with high confidence.
The finance ministry announced in a statement today, the conclusion of negotiations between the government delegation and the International Monetary Fund, and to reach a standby credit agreement [SBA] at the expert level.
It said that resulted from the negotiations, agree on a program to prepare the credit arrangements , which provides financial support for Iraq during the next three years , enabling it to continue to provide the war requirements of the entity Daash terrorist edit Iraqi territory from the claws and deficit reduction and financial gap and achieve financial and economic reform real.
"ministry said that" the government delegation was keen that does not affect this program on government spending in the area of social and health services and education and a network of social welfare and humanitarian programs. "
According to news access of Iraq, last Tuesday, a loan from the international Monetary Fund worth $ 13 billion with interest estimated at 1.5 percent.
as governor of the Iraqi Central Bank [agency] on the Keywords that Iraq will get loans from the international Fund for up to $ 15 billion in the next two years.
among Keywords in a newspaper interview , "Iraq is expected to happen this year at $ 7 billion or more, and in principle in the next two years could be that Iraq gets $ 15 billion, and these amounts may be to say that it has become almost certain. "
An Iraqi government delegation senior headed by Finance Minister Hoshyar Zebari held talks since last Saturday in the Jordanian capital Amman with the international Monetary Fund in order to conclude the credit readiness will provide Iraq with financial support to enable it to overcome the financial crisis and reduce the gap in the agreement the budget so as to enhance economic and financial system of the country 's reform process
30) Parliamentary Finance: The government plans to borrow about $15 billion from international banks
05/11/2015 Baghdad - INA / revealed a member of the Parliamentary Finance Committee, on Thursday, for the determination of the federal government to borrow about $ 15 billion from international banks to meet the projected shortfall in the general budget.
A member of the Finance Committee Masood Haider told the "Iraqi News Agency" that "the federal government It planned to borrow an amount of $ 14.5 billion from international banks or the World Bank to bridge the shortfall in the budget of 2016, "
and added that "the Legal Committee and the Presidency of the Council of Representatives has authorized the Finance Minister Hoshyar Zebari to this issue," noting that "the government will give guarantees for borrowing This amount does not affect the economic future of the country. "
31) Following consultations between Iraqi experts and the World Bank .. stressful three reasons behind the adoption of the salary scale
Posted 04/11/2015 BAGHDAD – Orient reveal financial source of bright, that the three reasons behind the adoption of the salary scale controversial, including the pressure of the World Bank which stipulated that a clear reduction of government spending as well as the government seeks to avoid the removal of subsidies for fuel and lunch!
The source says, that this peace is among the deep financial reforms, which will be approved in the coming days, in a series of austerity measures pursued by the government of al-Abadi, the impact of lower oil prices and access to unprecedented levels in a decade package.
Explains the source, that the Iraqi government had made earlier at the request of the World Bank for a soft loan, to overcome the financial crisis faced by the country, and actually sent the bank advisers to the State Audit, and evaluation of the financial situation, the Panel recommended that the Iraqi government make clear reforms on salaries that exceed 70% of the country's total revenue,
and drain all the capabilities of the Malian government, as well as a forced exchange of personnel loss-making state-owned companies, a 72 belonging to the Ministry of Industry and Minerals said the company, as well as the lifting of government subsidies for food in the ration card items, and also the removal of subsidies on fuel prices and oil derivatives.
Shows the source, the government tried to avoid Abadi these steps initially, but the deterioration of the financial situation, and lower revenues paid recently to accept making the repairs, and so began the first procedure, a so-called new salary ladder. He points out that the World Bank responded after the announcement of the move and announced his intention to double the amount of the loan early 2016, Abadi if the government continued to make financial reforms.
The Iraqi Ministry of Finance announced on the first of July, that Iraq Siqtrd $ 2.3 billion from the World Bank in an effort to bridge the country's budget deficit and the expenses of the war against Daash.
The Finance Ministry said in a statement seen by (Orient), is due to the World Bank of Iraq provides a loan of $ 1.7 billion, of which US $ billion as financing development policy loan (DPL), and added that the World Bank will lend Iraq $ 350 million for restoration reconstruction and stability to the liberated areas of «Daash» and $ 350 million for the project through Umm Qasr - Basra south of the country.
For his part, he called the Integrity Commission, the parliamentary member Haidar Alfoada, the Iraqi government to reverse the decision handed new salary, which sparked controversy and objections very popular. Alfoada said in a statement, said that «the new salary ladder is invalid and does not meet the aspirations of the Iraqi people», calling on the government to «reverse the decision of the new salary ladder».
Alfoada stressed that «the Presidency of the Council of Representatives and the members of the Council before the real test of being the voice of the citizen, either to withdraw authorization from the government or go to the Federal Court to overturn a decision» proposal to reduce salaries in the new peace.
32) Central Bank announces the receipt of international loan in the form of three financial payments
05-19-2016 Announced adviser to the CBI and Idi Walid, said that "Iraq will get the IMF loan, after the completion of the financial report and approval at the Fund's Board of Directors."
Idi said in a press statement today Alaavae, that "the IMF loan of 13 billion dollars, will be presented to Iraq in the form of three payments that will stroll budget resources and fulfill the obligations of the state during this year at least."
He Idi that "Discussions are under way two years between Iraq and the International Monetary Fund since, and was scheduled to be a loan (15) billion dollars, but the improvement in oil prices and a height of 30 dollars to the higher installed the (40) dollars, pushing the fund to reduce the loan to (13) billion dollars to enable Iraq to pay it within the prescribed period for him. "
From the other side, he said a member of the economic and investment commission MP Harith al-Harthy, on Wednesday, said that "the International Monetary Fund will not hand Iraq a loan of 13 billion dollars, attributing this to ensure the money going to the necessary projects and make sure there she went to the fake projects."
Harthi said in a press statement, said that "the International Monetary Fund agreed to lend Iraq an amount worth 13 billion dollars, but it will not deliver the money," explaining that "the fund will turn the money in the form of industrial, commercial and agricultural grants and part of them to fill the budget deficit."
The IMF announced on Tuesday agreed to give Iraq a loan of $ 13 billion in estimated interest rate of 1.5 percent.
33) CBI News & Announcements
12/28/2015 To / brokering the sale and purchase of foreign currencies all companies (postponement uncles)
To / all licensed banks and money transfer companies approved all and the financial investment companies approved all and brokering the sale and purchase of foreign currencies approved all companies (foreign exchange rate)
Posted 04/11/2015 BAGHDAD – Orient reveal financial source of bright, that the three reasons behind the adoption of the salary scale controversial, including the pressure of the World Bank which stipulated that a clear reduction of government spending as well as the government seeks to avoid the removal of subsidies for fuel and lunch!
The source says, that this peace is among the deep financial reforms, which will be approved in the coming days, in a series of austerity measures pursued by the government of al-Abadi, the impact of lower oil prices and access to unprecedented levels in a decade package.
Explains the source, that the Iraqi government had made earlier at the request of the World Bank for a soft loan, to overcome the financial crisis faced by the country, and actually sent the bank advisers to the State Audit, and evaluation of the financial situation, the Panel recommended that the Iraqi government make clear reforms on salaries that exceed 70% of the country's total revenue,
and drain all the capabilities of the Malian government, as well as a forced exchange of personnel loss-making state-owned companies, a 72 belonging to the Ministry of Industry and Minerals said the company, as well as the lifting of government subsidies for food in the ration card items, and also the removal of subsidies on fuel prices and oil derivatives.
Shows the source, the government tried to avoid Abadi these steps initially, but the deterioration of the financial situation, and lower revenues paid recently to accept making the repairs, and so began the first procedure, a so-called new salary ladder. He points out that the World Bank responded after the announcement of the move and announced his intention to double the amount of the loan early 2016, Abadi if the government continued to make financial reforms.
The Iraqi Ministry of Finance announced on the first of July, that Iraq Siqtrd $ 2.3 billion from the World Bank in an effort to bridge the country's budget deficit and the expenses of the war against Daash.
The Finance Ministry said in a statement seen by (Orient), is due to the World Bank of Iraq provides a loan of $ 1.7 billion, of which US $ billion as financing development policy loan (DPL), and added that the World Bank will lend Iraq $ 350 million for restoration reconstruction and stability to the liberated areas of «Daash» and $ 350 million for the project through Umm Qasr - Basra south of the country.
For his part, he called the Integrity Commission, the parliamentary member Haidar Alfoada, the Iraqi government to reverse the decision handed new salary, which sparked controversy and objections very popular. Alfoada said in a statement, said that «the new salary ladder is invalid and does not meet the aspirations of the Iraqi people», calling on the government to «reverse the decision of the new salary ladder».
Alfoada stressed that «the Presidency of the Council of Representatives and the members of the Council before the real test of being the voice of the citizen, either to withdraw authorization from the government or go to the Federal Court to overturn a decision» proposal to reduce salaries in the new peace.
32) Central Bank announces the receipt of international loan in the form of three financial payments
05-19-2016 Announced adviser to the CBI and Idi Walid, said that "Iraq will get the IMF loan, after the completion of the financial report and approval at the Fund's Board of Directors."
Idi said in a press statement today Alaavae, that "the IMF loan of 13 billion dollars, will be presented to Iraq in the form of three payments that will stroll budget resources and fulfill the obligations of the state during this year at least."
He Idi that "Discussions are under way two years between Iraq and the International Monetary Fund since, and was scheduled to be a loan (15) billion dollars, but the improvement in oil prices and a height of 30 dollars to the higher installed the (40) dollars, pushing the fund to reduce the loan to (13) billion dollars to enable Iraq to pay it within the prescribed period for him. "
From the other side, he said a member of the economic and investment commission MP Harith al-Harthy, on Wednesday, said that "the International Monetary Fund will not hand Iraq a loan of 13 billion dollars, attributing this to ensure the money going to the necessary projects and make sure there she went to the fake projects."
Harthi said in a press statement, said that "the International Monetary Fund agreed to lend Iraq an amount worth 13 billion dollars, but it will not deliver the money," explaining that "the fund will turn the money in the form of industrial, commercial and agricultural grants and part of them to fill the budget deficit."
The IMF announced on Tuesday agreed to give Iraq a loan of $ 13 billion in estimated interest rate of 1.5 percent.
33) CBI News & Announcements
12/28/2015 To / brokering the sale and purchase of foreign currencies all companies (postponement uncles)
To / all licensed banks and money transfer companies approved all and the financial investment companies approved all and brokering the sale and purchase of foreign currencies approved all companies (foreign exchange rate)
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