Lexi: Just a quick question. Why would DrS wait 3 or 6 months into a years budget to change or release a new rate when doing so at the very start would make sooooo much more sense and be so much more profitable to not run chance of a deficit if he could get on the ball at the very start of a new budget year. Anyone smarter than me on this please enlighten me because I don’t understand the reasoning for that whatsoever? Thanks AnotherMailman: I find it exciting that Iraq will pass many important laws by October 1st. An article today said that the Investment law will pass on September 28th when Parliament resumes after the holiday. Also, I think the 2016 budget is done already and will be ready to go when needed. I’m more in line with things will become more clear in the next 10-14 days. Gut feeling mixed in with some speculation.
************ DAK: Sep 24, 4:59 PM EDTWorld Bank boss: Fed grants reprieve to emerging markets
By GREG KELLER Associated Press
NEW YORK (AP) — The head of the World Bank says the Federal Reserve’s recent decision not to raise interest rates immediately will give breathing room to developing countries working on reforming their economies.
In an interview with The Associated Press Thursday, President Jim Young Kim also said China’s current slowdown was “entirely predictable” but that the slower growth will lead to a more sustainable Chinese expansion in the long run.
Kim was speaking to the AP ahead of a U.N.-sponsored meeting on a new 15-year sustainable development goals.
He said it’s a question of when, not if, the Fed raises rates from record lows near zero.
“What this has done is given us time to go back to emerging markets and developing countries and say `OK, you’ve got a little reprieve,'” Kim said.
The World Bank will use this extra time to encourage those countries to make necessary reforms to ensure that “when the rate does go up you won’t see this mass exodus of investors,” Kim said.
China’s shift to a service and consumption-driven economy from an export-led one has necessarily led to “bumpiness” in its growth rate, Kim said. However China remains committed to this reform process, which should lead to “much more sustainable and higher quality growth,” Kim said.
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