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Friday, August 4, 2017

KTFA CHAT, 4 AUGUST

Millie:  GOOD MORNING. THINGS SURE SEEM TO BE MOVING AT AN  ACCELERATED PACE. THANKS FOR ALL THE ARTICLES NEWSHOUNDS!

JUST A THOUGHT HERE.... DURING THE CC WEDNESDAY FRANK ASKED HIS FREIND IF THE ATMS WERE LOADED WITH THE LOWER DENOMINATIONS AND THE ANSWER WAS NO... IMO AND FOR WHAT ITS WORTH, I DONT BELIEVE THEY WILL BE LOADED UNTIL AFTER THE RV.

HAVE A FANTASTIC WEEKEND.  WHO KNOWS,

SUNDAY COULD BE THE DAY

Pattycakes77:   Millie I agree with your statement. Many things that are in line needs the rv to move forward. Iraq cannot hold out much longer. Hoping and praying Sunday is our day.
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Samson:  KUWAIT TO HOLD INTERNATIONAL CONFERENCE ON REBUILDING IRAQ

3rd August, 2017

Kuwait has started extensive contacts with the World Bank to prepare for hosting a donor conference for the reconstruction of the Iraqi areas that have been liberated from Daesh control, Kuwait’s Deputy Foreign Minister Khaled Al-Jarallah announced yesterday.

Speaking in an event that was held at the Iraqi embassy to celebrate the liberation of Iraq’s northern city of Mosul, Al-Jarallah said that “there was no date set for the conference,” adding that “it is likely to be in the first quarter of next year [2018].”

“Kuwait has always stood by Iraq via the international coalition (fighting Daesh) and bilaterally,” the Kuwaiti minister noted.

Al-Jarallah pointed out that “there is coordination and harmony between Kuwait and Iraq to overcome any problems that may occur.” He also congratulated the Iraqi people on the recapture of Mosul fromm Daesh.

On 11 July, Kuwaiti Emir, Sheikh Sabah Al-Ahmad Al-Jaber Al-Sabah, told the Iraqi Prime Minister, Haider Al-Abadi, in a phone call that his country was ready to host an international conference on rebuilding the liberated areas in Iraq.

The World Bank had also welcomed the initiative, stressing that it would support the long-term reconstruction of the liberated areas in Iraq.

http://iraqdailyjournal.com/story-z15697596

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Walkingstick:  Moody’s gives stable outlook for Iraqi government

The ratings agency said that positive developments balance the country’s shaky political and economic position

Moody’s Investor Service assigned a Caa1 long-term issuer rating with a stable outlook to the government of Iraq.

The ratings agency said that the stable outlook reflected the balance struck between recent positive developments, such as security forces and support from the international community, and political and economic fragility. “Nevertheless, the political situation remains fragile and will do so for some time,” Moody’s said.

Iraq’s proven oil reserves were 153 billion barrels, the fifth largest in the world, according to BP Statistical Review of World Energy. The supply glut has weighed down prices to around US$50 a barrel despite Opec’s efforts to curb the lull in oil prices. This places added pressure on Iraq as it relies on hydrocarbon revenues to the tune of 90 per cent of government revenues and nearly 100 per cent of exports.

According to the latest data, oil accounts for about 50% of nominal GDP, nearly 100% of exports, and around 90% of government revenues. However, because oil extraction is a capital-intensive industry, it is not particularly important for employment, with only 1% of total employment in the sector.

Moody’s said that the volatile oil market has caused a sharp slowdown in the country’s growth this year. “We are currently forecasting a 0.4 per cent contraction in growth in the economy, and looking ahead, growth between now and 2022 is likely to slow,” the ratings agency said. “After a growth rebound of 2.9% for 2018, the IMF is forecasting that real GDP growth will be between 1.7% and 2.1% through 2022.”

Iraq’s deficit for last year was larger than targeted, 14.1 per cent of GDP versus 10.9 per cent. The IMF expects a large 9 percentage point deficit reduction this year, but that is almost entirely dependent on increases in oil revenue.

Moody’s said that the government has significant reserves totaling around $40 billion, which will provide a fiscal buffer for when other sources of funding are constrained.

Moody’s also gave a Caa1 senior unsecured rating to the country’s bond issuance as well as a B3 long-term local and foreign currency bond ceilings and Caa2 local and foreign currency deposit ceilings.

https://www.thenational.ae/business/economy/moody-s-gives-stable-outlook-for-iraqi-government-1.616832

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Hdmcwilliams:   Mahdi al-Alaq confirms the government’s move to economic reform to compensate for the decline in oil revenues

By   rami     August 3, 2017

 The Secretary-General of the Council of Ministers Mahdi Al-Alak, on Thursday, the government’s move towards economic reform to achieve comprehensive development and the gradual transition to the private sector, pointing to strive to compensate for the decline in oil revenues.

“The participation of the Baghdad Economic Forum comes in support of the government to the private sector,” Al-Alak said during his participation in a workshop for the Baghdad Economic Forum, according to a statement by his media office. “The government was keen to involve the private sector in all economic committees.”

“The government is moving toward economic reform to achieve comprehensive development and a gradual transition to the private sector, and Iraq, having overcome the economic risks coinciding with the war on a daunting, He is going to proceed with the economic reforms he started. ”

He pointed out that “Iraq suffers from many economic problems, for the total dependence on oil revenues, which fell by about 70%.”

He stressed that “the government has been reforming through the issuance of a number of decisions to compensate for the decline in oil revenues and the disposal of some of the problems that affected the economy of the country, and focus on the development of the public and private sectors and improve the quality of national products.”

http://en.economiciraq.com/2017/08/03/mahdi-al-alaq-confirms-the-governments-move-to-economic-reform-to-compensate-for-the-decline-in-oil-revenues/

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DRL:  "The tragedy of life is not that it ends so soon, but that we wait so long to begin it." — W.M. Lewis

We are what we repeatedly do. Excellence, then, is not an act, but a habit." –Aristotle

Passion is a powerful force. Passion properly directed is unstoppable.

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