(Thank you George for emailing this to Dinar Recaps. NOTE: Recaps will be posting later a Q&A post from Mnt Goat.)
March 8, 2017 Mnt Goat News Brief
I bring you much news today.
The news is pouring out of Iraq again. For anyone to say there is no new news to report is a crazy person. The news could not get any better.
First I want to say that I NEVER said you should read nothing but Mnt Goat news letters. What I did say is to stop listening to all this nonsense that is being put out there by these charlatans. You know who I am talking about as I mentioned them many times already.
The fact is I listen to just about every conference call there is and read just about every forum, but I don’t’ believe it all or take it on faith. Some of the information is factual but I see way too much hype and way too much “going down rabbit holes” for absolutely nothing.
This everyday / any day stuff must end if told without solid proof. Since no one will know the date or rate I find it very hard to believe any of it.
A prime example is president Trumps recent speech to the joint session of Congress. This is a scheduled speech and is a ritual performed for each new president after the election. How long have you lived in the USA? How many elections have you seen? Many made reference to some “secret coded message about the RV” being put in his speech. Really? Seriously when I heard this rumor I began to wonder about the sanity of the person who started it. An other example is this rumor spread about the ATM cards having the new RV rate on them. I have debunked this one and talked about it many times in past news letters. Again the rate is NOT on the cards and must be looked up on FOREX during the exchange when you are using it in the ATM machine. So how could the rate possibly be the new rate if the FOREX now lists 1125 dinars per 1 dollar?
Update on the fight with ISIS:
Monday , March 6, 2017
Gen. Robert Jones, commander of the British forces, which are fighting organization “Daesh” in the territory of Iraq, that the majority of the group’s leaders, died revealed, adding that the connector on the verge of liberation, which would make the defeat of the terrorist group in Iraq “inevitable.”
Jones confirmed that the remaining militants alive are about 1,500 fighters trapped in the western areas, in Iraq’s second city, which was declared by the Abu Bakr al-Baghdadi, the leader of “Daesh,” an Islamic caliphate in the Nuri mosque in 2014. He pledged the coalition led by the United States to prosecute leaders “Daesh” and eliminate the “head of the snake.”
As always my comments are in italic RED.
Mullah accuse al-Maliki of waging a “war” against the achievements of the Abadi
Special scales News
He accused the leader of the alliance of Iraqi forces Haidar al-Mulla, Monday, wing led by al-Maliki to start a “war” against the security achievements Abadi throughout his reign.
Mulla said, L / balance News /, said that “there are pavilions led by a coalition of law Nuri al-Maliki began to declare war on the security achievements of the Prime Minister Haider al-Abadi, throughout his reign.”
The leader of the Alliance, “This is not only a wing parties from state law or the Dawa Party, but the parties to the other political parties was not announced officially,” (Can you see where the news media in Iraq is going with this news media campaign all of a sudden about Maliki? Can you connect why Maliki resigned from the Dawa party last week?)
Iraq, Iran agree to resolve dispute on joint oilfields
Iraq’s Oil Ministry signed a memorandum of understanding with the Iranian Oil Ministry to settle disputes over the joint oilfields and examine the possibility of building a pipeline to export crude oil from the Kirkuk fields, in the north of Iraq, through Iran. (cooperation….. This is all very good!)
According to an Iraqi Oil Ministry statement, Iraqi Oil Minister Jabbar al-Luaibi agreed with his Iranian counterpart Bijan Namdar Zanganeh during the recent visit to Iraq on coordinating their stances in the Organization of the Petroleum Exporting Countries (OPEC) to achieve balance in the global oil markets, support oil prices and study the construction of pipelines to export crude oil from Kirkuk fields through Iran, al-monitor.com reported on Monday.
Iraq and Iran share the fields of Majnoon, Abu Ghraib, Bazerkan, Al-Fakkah and Khana. These fields contain huge reserves of light crude oil close to the earth’s surface and reserves exceeding 95 billion barrels. This is the largest reserve of hydrocarbons in the Middle East.
On Feb. 2, Iranian companies resumed drilling 20 new oil wells in the southern Azadegan field, which is one of the shared oil fields between Iraq and Iran.
Tillerson: Iraq , an important ally in the fight against “Daesh”
US Secretary of State said Rex Tillerson, on Monday, we exclude Iraq from
the banned states on its citizens entering the United States in the new
Executive Order because the Iraqi government is working to confront terrorism.
And announced the US Department of Homeland Security, said on Monday
that US President Donald Trump’s decision, that had banned the entry of
citizens of the six countries, and the suspension of refugee reception program.
Just as the decision does not apply to persons who have obtained visas to
enter the United States before January 27 last, or temporary residence
“Green Card.” Nor would it be canceled visas issued.
US Treasury positive measures taken by Iraq in the fight against money laundering is unprecedented in the region
Economy News / special ...
He praised the US Treasury representative in Iraq, John Sullivan effective measures taken by Iraq to combat money laundering and financing of terrorism, saying Iraq in the forefront of countries that initiated legislation important laws in international standards in this area.
Said Sullivan, who was speaking during a meeting with a delegation representing the Iraqi private banks association that Iraq witnessed in this regard, rapid development and great in a short period not to exceed two years, ever seen in any country region.
He said during the meeting held at the Association's headquarters in Baghdad with the participation of a number of leaders of Iraqi banks, said this development was the result of the fight against money laundering and terrorism financing, which is equivalent to best international laws in this area, as well as the Iraqi Central Bank and the Association of Private banks Iraqi initiative during the sessions, workshops and forums, and internal controls banks and the use of information technology.
Sullivan called on all parties in the Central Bank of the Iraqi banking sector to cooperate in order to raise Iraq's classification of the International Labor Organization (FATF) to a higher degree, noting that the banking reality in Iraq is now different from the previous period and deserves a higher ranking.
Talks during the meeting dealt with the mechanics of opening accounts in Iraqi banks in US banks for the purpose of facilitating the foreign trade of Iraq, in addition to opening up to the wider world.
Acharaly that the Iraqi private banks association has trained more than 100 professional staff working in the Iraqi banks in the field of combating money laundering and terrorism financing and comply with international standards over the past.
(can you see now how the new banking practices; the implementing of the new anti-money laundering and anti-terrorist funding laws are all going to place Iraq in a very good position to get back their currency, thus continue ahead with the “project to delete the zeros”.)
Tomorrow .. starting a new round of talks between Iraq and the International Monetary Fund
(please pay attention to this article)
BAGHDAD / Alaa al - Taie
Revealed the appearance of Mohammed Saleh, the financial advisor to the Prime Minister Haider al - Abadi, the launch of a new round of special review of the implementation of the Stand -By Agreement talks in Amman on Tuesday, under which Iraq will receive five billion and US $ 300 million soft loan to support the budget during the period from 2016 - 2019 , mostly for reconstruction and economic development.
Said Saleh, a member of the negotiating team of the Iraqi delegation, in an interview for Sabah: There are 13 round of talks , or what is known as the second revision pertaining to implementation of the standby credit between Iraq and the International Monetary Fund is scheduled convention that kicks off in Amman this week, to complete the first round which was held in Amman in early September, adding that« the talks will focus on the special standby credit arrangements with a loan five billion and $ 300 to support the budget million dollars, what has been implemented of the economic reforms of public finance and governance, and all ready credit program.
Saleh added that the commitments are part of the agreement between Iraq and the International Monetary Fund, adding that Iraq received the amount of one billion and 250 million dollars during the year 2016 is due to receive early 2017 Batch represent half of the amount mentioned in addition to Article IV of the Fund Agreement consultations to assess economic situation of the member countries regardless of the Fund program.
He said the financial advisor to the prime minister that talks take two weeks this March and will start on March 7thereof and includes talks with officials in the financial sector and the service ministries and various economic aspects and then launched in the latter part of the discussions with those responsible for fiscal and monetary policies.
And Saleh said that the first stage consultation with the Fund took place in Amman early last September and addressed the implementation of the standby credit arrangements under which Iraq will receive five billion and $ 300 million agreement, as a soft loan to support the budget, during the period from 2016 to 2019, indicating that the loan Iraq will allow the international financial umbrella of the dolly and support form of soft loans to bridge the funding gap of at least $ 15 billion spent mostly for reconstruction and economic development. »
Saleh pointed out that after the end of each round of talks conducted by Iraq with the International Monetary Fund called a part of the amount of the Fund 's loan of $ 5 billion and $ 300 million was launched the first batch after the Executive Council 's approval of the agreement between Iraq and the Fund in the July 7, amounting to $ 634 million, and received Iraq billion and $ 250 million in 2016, pointing out that after the end of the second round of the review will be released half of the amount received Iraq in 2016 of one billion and $ 250 million , or approximately $ 800 million. (so what are the conditions (structural benchmarks) that had to be met in order to pass this 2nd review first quarter 2017?)
Go to http://www.imf.org/external/country/IRQ/
select the June 19th 2016,
Iraq -- Iraq: Letter of Intent, Memorandum of Economic Financial Policies, and Technical Memorandum of Understanding, June 19, 2016
Structural benchmarks for this 2nd review to begin on 3/7:
Decisions by the Minister of Finance and the Minister of Planning requiring all spending units to record all existing commitments.
Posting by the Ministry of Finance on its external website of the financial statements of the Development Fund for Iraq and Successor Account on December 31, 2015 audited according to international standards.
Approval by the Governing Council of the Central Bank of Iraq of a new charter for the Audit Committee prohibiting Central Bank of Iraq executive representation on the committee.(eliminating conflict of interest between the audit team and the CBI management – full transparency)
Upcoming 3rd Review in June 2017:
Approval by the Council of Ministers and introduction to parliament of draft amendments to the 2011 law establishing the Integrity Commission in order to strengthen its governance, accountability and oversight, and independence, and provide it with powers in line with the United Nations Convention against Corruption, as specified in ¶26 of the MEFP. (according to the articles Iraq is already working on this. Do you now see why the articles ARE IMPORTANT and must be read and understood to know what is really going on in Iraq. No “secret” sources are needed or wanted. They just make up the news as they see fit to meet the RV hype and hysteria anyhow. So what good it their brand of the news anyhow?)
Ministry of Finance to produce a report of all recurrent and investment commitments (by project) in coordination with the Ministry of Planning.
Approval by the Council of Ministers and introduction to Parliament of amendments to the Law on the Central bank of Iraq to strengthen CBI governance and the internal control framework,in line with the IMF safeguards assessment's recommendations, as specified in ¶30 of the MEFP. (This is due to the CBI takeover in late 2012 by Nori al-Maliki and his goons. This is not going to happen again….The CBI needs its independence. Remember when Dr Shabibi was asked to come back to the CBI as governor in 2014 when he was fully exonerated from any crimes - what did he say in response to this request?– 1) the CBI needs its independence respected 2) I need the threat for my life to end by the Maliki and his goons. A secure and stable political environment 3) Abadi must make the formal announcement. I am not claiming Dr Shabibi will or will not come back to the CBI as governor or the necessity for him to do so. I am merely pointing out history and as to why this condition is on the agenda from the IMF it the 3rd upcoming review)
Approval by the Council of Ministers and introduction to Parliament of an amendment of the Investment Law, or issuance of clarifying implementing regulations by the Ministry of Finance, to remove the limitation on transfer of investment proceeds that gives rise to an exchange restriction. (What did I tell you earlier in this news letter? They must eliminate restrictions that hinder taking profits out of Iraq or buisnesses will not come into Iraq. It is the “exchange restriction” currently in place that is an major obstacle such as in the sanctions mandating the conversion of dinars to dollars to do business with the outside world. This is not free flow of capital. I think this amendment is already passed in parliament according to the news)
Improve the business environment by eliminating restrictions for current international transactions. (wow! I think this is already completed ahead of time according to the articles in the news)
Central Bank: the financial crisis behind us and the coming days are promising
Economy News / Baghdad ...
The central bank, announced on Sunday that Iraq exceeded the financial crisis and the coming days are promising, indicating that the decline on hard currency reserves. (all this is saying is the drastic monthly draw down on the CBI reserves has ended, nothing more. Don’t get carried away with hype.)
He said the Iraqi Central Bank adviser Walid Idi, in a press statement, that "the crisis, austerity and fiscal deficit as a result of lower oil prices in the last period has ended and Iraq overcome the financial crisis and the coming days are promising."
He added that "Iraq will become a country of foreign investment as a result of competing foreign international companies to invest in the reconstruction after the devastating cities recovered from Daesh."
"The entry of foreign Iraq's companies reflect a positive outlook and will contribute to attracting major countries to rebuild the devastated areas and the holding of joint agreements for investment as well as trade exchange and activate tourism and oil industry," stressing that "holding oil agreements with Arab and foreign countries will contribute to bring in hard currency for the country and raise reserves the central bank of the currency. " (A direct result of this action has to be raising the value of their currency)
Idi He continued, "For the Amajaov hard currency reserves fell in the Central Bank and the decline of my time will be improved in the near future.
Their words not mine…..No Rumors, No Hype, Just the FACTS!
Much love to ya all,
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