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Tuesday, January 3, 2017

KTFA UPDATE, 3 JAN

MilitiaMan:  Maybe they are lifted.(sanctions)  This was written and agreed upon as of Nov 1-2, 2016. In other words reparations, are within and considered in the 2017 budget as oil related spending.

Imo As i can see it, if they consider it as common oil related debt and have it allocated, why would they at this point not have made it clearer to the citizens that they are being sold a bill of goods with all those 23 articles talking about deleting the zeros?

Then have Dr. Essam Mahoulle come out yesterday and tell us they feel the value of the dollar to the dinar is $3.32 to one? Then they put an administrative hold on the budget? 


"28. To ease the cash constraint in 2017, the authorities have agreed with the government of Kuwait on a further postponement of the payment of overdue war reparations to Kuwait amounting to $4.6 billion (ID 5.4 trillion or 3.4 percent of non-oil GDP) to 2018. The government requested this postponement to the Governing Council of the United Nations Compensation Commission at its session of November 1–2, 2016.

"8. The central government non-oil primary balance is defined as the difference between non-oil revenue and non-oil primary expenditure measured on a cash basis. Non-oil revenue is defined as total revenue and grants excluding oil-related receipts (exports of crude oil and refined products, and transfers from oil-related state-owned enterprises).

Non-oil primary expenditure is defined as total expenditure, including off-budget spending approved by government decree and payment of arrears, excluding (i) interest payments on domestic and external debt; and (ii) all oil-related spending (including war reparations)."


https://www.imf.org/External/NP/LOI/2016/IRQ/12162016.pdf  

Iggy:  just the fact they mentioned $3.22 to $1.00 has me tickled pink..

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Sheila:  Could someone translate this to English unfortunately when I translate it I can not save it.  It talks about having a new contract due to exchange rate change and other key issues. The date says 1-3-2017.  Thank you  

http://www.alghadeer.tv/news/detail/48946/

Ty1:  Here is the translation....It does say take into account the changing exchange rate!

Executive Director of the company, "Tawanar" of the Iranian Ministry of Energy said that to stop exporting electricity to Iraq was due to end of the legal duration of the contract and that the company sent a team to Baghdad to discuss a new contract.

He pointed arches Kurds in a press statement Tuesday, "January 2017 3" for: "The contract to export electricity to Iraq has lapsed, while requiring a contract extension to make updates and drafting new amendments and additions."

He added: "The wording of the new contract should take into account the immediate circumstances and the changing exchange rate and the rest of the core issues."

And the Executive Director for "Tawanar": "that the company notified since the Iraqi side, the imminent expiration of the contract for the supply of electricity and the need to update it," pointing "to have been sent assistant directors of the company and the rest of the institutions concerned to Iraq in order to discuss this matter."

Warsh also confirmed that the continuous cooperation with the Iraqi side and that the Iranian delegation will discuss the subject of payments mechanism with Baghdad, stressing that stopping the supply process came after the expiry of the legal period of the contract.
 He pointed out that the size of the export of electricity to Iraq changes depending on the week, but the average is between 700 - 1000 MW.

The Executive Director expressed the hope that the export process will resume in less than a month.

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