.Frank26, Delta and KTFA Members Monday PM 3-13-17

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.Frank26, Delta and KTFA Members Monday PM 3-13-17

Post  Admin on Tue Mar 14, 2017 2:24 am



Frank26:  No issues ............... Iraq has OIL ............. SO DOES THE USA !!!

Tonight i will further explain this along with Iraq's 2017 Budget.............. Hope to see You tonight. 

EVEN GOING TO SELL AN OIL RIG AT 8 PM EST ............. Come watch

Delete the zeros MUST be at the beginning of a fiscal year .

SEPT 6, 2012 - Does the project will remain a dead letter permission as described by Central Bank Deputy Director Mohammad Saleh appearance .... Was the decision to delete zeros of the Iraqi currency in many opinions Pro and con, economists believed that the resolution would lead to the collapse of the national currency and some other that he would return to the country with great interest and unfortunately its await as a joint venture between the Government and the Central Bank.

As long as the Government seeks to postponed due to security concern, it could not be implemented this year or the year after – as Deputy Director of the Central Bank — the timing is very important in this case and that its implementation must coincide with the beginning of the fiscal year, so you will not find a space for implementation this year inevitably ...

Regrets for the delay of the country's economic performance will improve efficiency as long as currency and reduce the influence of big numbers, monetization needs to cash large and small groups will be dealing with categories such as (50 dinars) and (100 dinars) and (200 dinars) in addition to the categories below as dinar (half dinars and quarter-dinars) and (50 Fils, 25 Fils). Source  
AUG 20, 2012 - Saleh drew the interest of the Exchange must be with the new fiscal year, "the Iraqi Government's accounts cannot be registered in the same year, two forms of financial values" Source

Central deletion of zeros early 2017   DELTA

Zerb:  I don't know about you all but I'm really excited to see President Trump's first federal budget that supposed to come out this week that could be very telling for us IMO

Don961:  The launch of the salaries of retirees who have completed smart card action this weekend

Basra - Iraq Press - March 13 / March: announced the retirement of the Directorate of Basra on Monday, the launch of the civilian pensions for the months of February and March, the end of the week for those who have been activated smart cards.

He retired director of Basra Basil Alaidani, "The shift from the receipt of the salary of the banking system in accordance with the personal identity of the smart card system requires the presence of a retired person to the Directorate of retired Basra or send a certificate to prove he is alive if it was outside Iraq as a prelude to verify the identity to be sent to Baghdad and conduct other audits before they are activating the smart card for the purpose of receiving financial benefits, "adding that" smart card civilians for retirees has been activated early in 2017 ". Ended O.h


Greenclan:  THANK YOU DELTA>
Cannot wait for the details on this study.
I guess it would be good to know what is definition of "EARLY"
first quarter?    First half?
i know they can make all retroactive but in their mindset what do they mean.

NeedtoUnderstand:  So the real question is the fiscal year the same as the US calendar year, or does Iraq recognize another date as the beginning of the fiscal year? 


J49:  Well Delta then they can take the rest of the year to drop the Zeros if it says to be done by the end of the fiscal year is that correct??.

Iggy:  Imo...i do believe they only have til March 31st to do the deed and make it retroactive to Jan 1st like they state...has to be done in the first quarter if i remember correctly...



Don961:  Cool Dude .... here's an article from last year .... a few months ago .... touting the benefits ... :

 Benefits delete zeros dinar

 Date: November 6, 2016

Will the implementation of the project because it involves a large economic benefits.
The central bank to delete the zeros in early 2017
1. Iraqi dinar inclusion within the global currency basket and handle it officially the world's stock exchanges and financial markets.
2. The possibility of economic agreements to handle the national currency as it can Iraq contract agreements Order dinars instead of dollars when the contract to build two production lines deals or deals Stirad goods and this will cover a very large part of the foreign remittances that are squandering of national wealth from foreign exchange.
3. Adjust the transaction allows dealing in Iraqi dinar in the Iraqi market and not rely on foreign and squandered currencies and Bosrtha transfer abroad by the private and public sector, which is the sovereign wealth dissipated to the outside on small transactions and non-essential and luxury in Iraq at the time need this wealth of storage as a reserve.
4. will be disposed of manipulating the currency exchange market and completed the so-called auction sell the currency, "" burning oven dollar. ""
5. work will depend corrupt suspicious of banks and their agents and Smaserthm "" contractor and investor cartoons "
6. will be determined by the roof top of the amounts transferred abroad of currency the dollar, euro, yen and sterling and the yuan's exchange-active and other pound to ensure that no smuggling the vast majority of trades of currency smuggling.
He said the Iraqi Central Bank Governor said the project to delete the zeros will be implemented in early 2017, indicating that the bank began to develop the first steps of the project.
And he said: "The purpose of deleting three zeros from the Iraqi currency is to support the Iraqi dinar and make it a competitor of foreign currency", returned him as "this strategic project will serve the country's economy if it will be inclusion of the Iraqi dinar in the global basket of currencies in the vital world exchanges."
He added that "the Bank is working on mechanisms for the implementation of this project is expected to start at the beginning of 2017," noting that "the central bank began the first steps of the project through the selection of designs, companies and the country in which the currency will be printed."
He pointed out that "the new currency entry does not mean the destruction of ancient coins, but will continue to trade for about ten years," pointing out that "this period will enable the central bank to withdraw the old currency in accordance with the dynamics and mechanics in order to preserve liquidity in the market."


Don961:  Fitch changed the outlook for Iraq to "stable"

Baghdad-Iraq-Presse March -14 said the agency "Fitch" credit rating, it has adjusted its outlook for the future prospects of Iraq defaulted on long-term foreign currency debt to "stable" from negative and affirmed Ranked when "-B".
The agency said in a report that the amendment outlook reflects factors , including that " the budget is relatively improved situation compared with 2015 and the first half of 2016 due to high oil prices than expected and shrinking government spending."

Fitch said its estimates indicate contraction of the Iraqi budget deficit to 8.1% of GDP GDP in 2016 , compared with 12.3% in 2015. the agency expects that the deficit continues to fall in 2017 to reach 5.1% of GDP , "amid strong revenue growth supported by higher average oil prices."

The credit ratings agency also predicted spending growth of 12.1% after significant declines in expenses over three years. And Iraq 's debt , Fitch said that the expectations of the government debt ratio to GDP has improved thanks to the decline in the budget deficit and rising oil prices formal amendments rates lift GDP nominal.

She added , " We estimate of the high government debt ratio to GDP to 62.7% in 2016 compared with an average 54.9% for countries classified in category B and we expect the average to 61% in 2017-2018." The Fitch expects the previous arrival of the ratio of debt the government to gross GDP to 75% in 2018. the agency noted in its report that political risks and security unrest in Iraq levels among the highest in the countries covered by Fitch.

She added: "Significant progress in defeat al Daesh been but the military campaign to bring their wake major challenges in terms of reconstruction and humanitarian level. And still sectarian and ethnic tensions undermine political stability, relations with the government of Iraq 's Kurdistan region volatile. "End quote (1)



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