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Sunday, July 10, 2016

MILLIONDAY CHAT, 10 JULY

millionday WELCOME TO NEWSTIME EVERYONE
 
millionday  IM GOING TO START WITH SOME THINGS I FIND VERY INTERESTING -- SMILEYOU READY SWANNY
 
millionday A LOT OF PEOPLE ARE WATCHING THIS AND WE HAVE AN ANNOUNCEMENT ABOUT IT NOW
 
millionday The International Monetary Fund’s (IMF) executive board has approved a $5.34 billion program for Iraq to help strengthen the country's finances.  The IMF said in a statement on July 7 that the three-year loan will see $634 million immediately allocated to Baghdad.
 
millionday  NOTE -- IMMEDIATELY --
 
millionday It said the money will help stabilize Iraq’s balance of payments, ensure Baghdad can keep up with its debt obligations, and support measures to protect the poor and fight corruption.  In July 2015, the Washington-based organization disbursed about $1.24 billion for Iraq under a similar program. 
 
Iraq’s economy has been hit hard by the sharp drop in global oil prices and the fight against the Islamic State group. 


Fozzie Getting loans is a great thing. They seem to have satisfied all the requirements placed before them.

​hopesway OMGOSH Million, someone sent this to me yesterday to post and I never got it done - how awesome!!!
 
millionday I AGREE -- THIS IS A GREAT THING TO SEE THIS MOVE FORWARD -- THEY HAD STIPULATIONS IN INK
 
millionday HEY HOPES HUN -- I AGREE AWESOME
 
millionday HERE WE GO WITH ANOTHER ON IT
 
millionday  The Executive Board of the International Monetary Fund (IMF) today approved a three-year Stand-By Arrangement (SBA) for Iraq for SDR 3.831 billion (about US$5.34 billion, or 230 percent of quota) to support the government’s economic reform program.
 
The Board’s approval enables the disbursement of SDR 455 million (about US$634 million). In July 2015, Iraq received disbursement under the Rapid Financing Instrument equivalent to SDR 891.3 million
 
swann1  does the approval mean they have completed all reform? economic? govt?
 
millionday NO IT MEANS ACCORDING TO SOME OF THE REPORTS THAT THEY ARE READY TO MOVE FORWARD WITH BUDGET -- SO IT WILL HOLD UP THE BUDGET ACCORDING TO NEWS
 
millionday Iraq’s economic reform program supported by the SBA aims to address the urgent balance of payments need, bring spending in line with lower global 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. Iraq will require the support of the international community to implement these policies.
 
swann1 I heard that Iraqi TV reported IMF is requiring economic reform to be completed before they will release any more loan proceeds.
 
millionday The IMF’s Management today also completed the first and second reviews of the Staff-Monitored Program (SMP) with Iraq that was approved by the Managing Director on January 12, 2016.
 
(See Press Release No. 16/04).  Following the Executive Board’s decision, Mr. Min Zhu, Deputy Managing Director and Acting Chair of the Board, issued the following statement:
 
millionday NOW LET'S TAKE A LOOK AT THIS BECAUSE PEOPLE ARE GOING TO BE DOING A COUPLE FLIPS
 
millionday  NOTE --THE IMF IS NOT THE IRAQI GOV== THEY DO NOT MEET FOR A REASON JUST TO TALK, THESE ARE FORMAL MEETINGS WITH IRAQ
 
millionday THEY HAVE COMPLETED THE FIRST AND SECOND REVIEWS
 
millionday THIS IS GREAT GREAT NEWS -- WHY BOTHER RIGHT NOW IF THE NEWS OUT OF IRAQ WAS NOT TRUE -- SO VERY EXCITING
 
millionday IMO DISCLAIMER, SMILE
 
millionday READ EVERY WORD FISCAL WHAT ADJUSTMENT? ;“The policies put in place by the authorities to deal with this double shock are appropriate.
 
 In the fiscal area, the authorities are implementing sizable fiscal adjustment, mostly through inefficient capital expenditure retrenchment while protecting social spending, and financing. In the external area, the authorities are maintaining which provides a key anchor to the economy
 
millionday. “The fiscal adjustment envisaged in 2016–19 is appropriate to address the pressure from lower oil revenue and higher humanitarian and security spending. But the composition of the fiscal adjustment should be improved over time, in order to make room for increased but more efficient investment expenditure.
 
millionday Overhaul of the public financial management system is necessary to improve fiscal discipline and the quality of spending. Implementation of the budget-sharing agreement with the Kurdistan Regional Government will put both the federal government and the Kurdistan Regional Government in a better position to address the ISIS attacks and the oil-price shock
 
millionday NOTE -- ACCORDING TO THIS THEY ARE MAKING INTERNAL SPENDING ADJUSTMENTS AND CUTTING GOV OVERHEAD
 
millionday “To strengthen growth and financial sector stability, the legal framework of the Central Bank of Iraq needs to be strengthened, state-owned banks need to be restructured, and exchange restrictions need to be gradually removed.
 
Additionally, measures need to be implemented to prevent money-laundering, counter the financing of terrorism, and strengthen the anti-corruption legislation.”
 
millionday NOTE -- THEY HAVE AN ISSUE -- HOW DOES THE WORLD CONTROL WHO GAINS BY THE ADJUSTMENT? IF YOU HAVE NOT THOUGHT OF THIS IN OUR TIME AND DAY OF GLOBAL TERRORISM THEN YOU HAVE YOUR HEAD IN SAND -- SMILE
 
millionday  KNOW THAT THEY ARE GOING TO HAVE REGULATIONS IN PLACE TO PROTECT FROM HUGE GAINS IN THE HANDS OF TERRORISTS ---- IMO THEY AT LEAST SHOULD -- IF NOT ALREADY ---
 
HOWEVER THEY ARE RELEASING EXCHANGE RATES --- WHOOOPOW
 
millionday EXCHANGE RESTRICTIONS BEING RELEASED IS HUGE OBVIOUSLY-WHOOOPOW
 
millionday SO WE HAVE THE IMF STATING THAT CBI NEEDS A LEGAL STRUCTURE STRENGTHENED
 
millionday IMO IT MAKES THIS MORE INTERESTING AND THAT IT IS ON THE GLOBAL NOTE NEWS
 
millionday For more than five years, the Central Bank of Iraq has planned to remove three zeroes from the banknotes and add Kurdish text. To date the efforts to redenominate the dinar have failed to come to fruition, but as this note demonstrates, the addition of Kurdish text is underway, with the language first appearing on the 50,000-dinar note (B356) introduced on 11 November 2015.
 
millionday IT SHOWS THE 500 BILL
 
swann1 i thought they had already done this stuff at CBI
 
millionday HERE IS A MEETING HAPPENING TUESDAY SMILE
 
millionday  IT IS NOT THAT THEY HAVE NOT DONE IT -- THIS IS ON THE INTERNATIONAL MONETARY AUTHORITY -- I THINK WE GET NUMB TO WHO THE IMF IS
 
millionday NOT CBI -- PARLIAMENT NEEDS TO PUT IN PLACE THE REFORM LAWS -- DON'T MISUNDERSTAND HOW GREAT THIS IS –
 
THIS IS THE IMF TELLING IRAQ (THE EXECUTIVE BOARD OF THE IMF) THAT THEY NEED THE ECONOMIC REFORM LAWS IN PLACE 

Infinityx So MD, do you and your sources think that this is finally our year?
 
millionday INFIN -- I CAN SAY THAT I AGREE WITH THE PLAN SHABIBI PLACED ON CBI YEARS AGO
 
millionday  confirmed Reform Front and the Kurdistan Alliance, on Saturday, they will attend the parliament session on Tuesday next. The MP said the reform front Abdel-Rahman's Alloizi / Baghdadi News /, that "the reform front settled its position and will attend the next session of parliament to be held on Tuesday."
 
millionday NOTE -- NOW WE HAVE PARLIAMENT MEETING TUESDAY -- SMILE
 
millionday For his part, Kurdistan Alliance MP Ahmed Sarhan's / Baghdadi News /, "we have reached our leaders of the political presence of the parliament session, which will be held next Tuesday after the end of the legislative term holiday."It is said that the presidency of parliament identified next Tuesday on 15/7 as the date for the first session of the parliament Aivanna to start the legislative term Aljdid.anthy

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