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1-800#'s and Instructions for Currency Redemption/Exchange

This is where the 800 numbers and instructions for currency redemption (US) and currency exchange (international) will be posted. This part of the page will remain until the "TETELESTAI" email has been distributed to us. Thank you.

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Featured Post

"Other Purposes" - RV Update - Congress - December 3, 2016

Received via email at 9:02 PM EST for publication. ~ Dinar Chronicles H.Res.934 - Providing for consideration of the Senate amendment t...

Thursday, September 1, 2016

Dinar Updates Daily Chat Log for Thursday 9/1/16 - Part 4

Dinar Updates Daily Chat Log

Part 4 - Featuring rcookie

Okie Dinar says to Elane(12:17 PM):

You're welcome Elane! Hope you're doing well :)

bubbles says to Okie Dinar(12:19 PM):

Is that the lastest ammendment past on amnesty law?

Okie Dinar says to bubbles(12:20 PM):

I would assume. He just posted that 2 hours ago :)

bubbles says to Okie Dinar(12:20 PM):

(y)

bubbles says to Okie Dinar(12:21 PM):

that was quick. only a couple days thank you

Okie Dinar says to bubbles(12:21 PM):

They are moving very quickly :)

bubbles says to Okie Dinar(12:22 PM):

yes love it

Okie Dinar says to bubbles(12:22 PM):

LOL, me too!

RickeyT says to BGG(12:33 PM):

do you feel that most of the crooked whales will have to be "brought to justice" prior to any currency form being implemented?

RickeyT says to BGG(12:33 PM):

Like Miliki....

rcookie says(12:41 PM):

GA DU!!...

Woodywoodpecker says(12:42 PM):

hi Rcookie

bubbles says to rcookie(12:42 PM):

GA

Okie Dinar says to rcookie(12:42 PM):

Hey Rcookie! Hope you're enjoying your day :)

rcookie says to Okie Dinar(12:42 PM):

HI OKIE!!!.....TY...YOU ALSO.

rcookie says to Woodywoodpecker(12:42 PM):

HEY THERE WOODY....

rcookie says to Woodywoodpecker(12:43 PM):

OK...

Woodywoodpecker says(12:43 PM):

hi from the tree tops

rcookie says to Woodywoodpecker(12:44 PM):

I POSTED...AWAY FROM THE LAST CALL...THE LIST OF DTAILED REFORMS THE INF WANTS FROM THE CBI LAW BEING AMENDED...AS OUTLINED IN THE 2016 LOI/MEFP/TMU....

jtank says(12:44 PM):

rickeyt- how u doin-

Woodywoodpecker says(12:45 PM):

thanks

rcookie says to Woodywoodpecker(12:45 PM):

I ALSO HAVE POSTED TWICE....THE LIST OF REVENUE AND EXPENDITURE REFORMS AD PC DEADLINES THE IMF IS LOOKING FOR AGAIN OFF OF THE 2016 LOI/MEFP.TMU...

rcookie says(12:48 PM):

I STARTED TO BRING IN THE PUBLIC FINANCIAL MANAGEMENT REFORMS WITH PC DEADLINE DATES THE IMF IS AGAIN LOOKING FOR IN THE 2016 LOI/MEFP/TMU AND STARTED TO BRING IN YESTERDAY BEFORE THE TNT AND RAY RAY CIRCUS VISITED DU.......

Okie Dinar says to rcookie(12:48 PM):

:D

rcookie says(12:50 PM):

BEEN EATING FISH ALL DAY TO RESTORE THE BRAIN MATTER LOST IN THE CONVERSATION..

jtank says(12:51 PM):

lol

Okie Dinar says to rcookie(12:51 PM):

(lol)

bubbles says to rcookie(12:56 PM):

:D

rcookie says(12:59 PM):

I WILL YRY AGAIN TODAY IF ANYONE IS INTERESTED...

Okie Dinar says to rcookie(1:00 PM):

YES!

Elane says(1:00 PM):

Yes.... of course... not all of us are always here... thanks

bubbles says to rcookie(1:01 PM):

yes yes yes

rcookie says to Elane(1:02 PM):

EXCUSE ME MR HAND....BUT IF I'M HERE AND YOUR HERE DOESNT THAT MAKE IT OUR TIME....LOL

rcookie says to Elane(1:03 PM):

MOVIE QUOTE....WHO SAID IT....

Elane says(1:03 PM):

We dont need no stinkin hand.. I have no clue...

rcookie says(1:03 PM):

JEFF SPICOLI....FAST TIMES OF RIDGEMONT HIGH...

Elane says(1:04 PM):

Oh see youre younger than I

Elane says(1:04 PM):

Ok will remember

rcookie says(1:11 PM):

OK...SO DO WE WANG TO DO THIS NOW...THE PUBLIC FINANCIAL MANAGEMENT REFORMS & INITIATIVES FRO 2016 LOI/MEFP/TMU....

rcookie says(1:11 PM):

WANT*

JETSET says(1:12 PM):

I was 15 months old when that movie came out! :D

rcookie says(1:13 PM):

ANYONE..

Okie Dinar says(1:14 PM):

I'm good with now :)

rcookie says(1:14 PM):

HERE WE GO......

j10000 says(1:14 PM):

yes sir cookie. Always interested in what you bring in. Thank you

JETSET says(1:14 PM):

all eyes!

JETSET says(1:14 PM):

8-|

rcookie says to j10000(1:15 PM):

(y)

j10000 says(1:15 PM):

your the best!!! very appreciated

rcookie says(1:16 PM):

E. Public Financial Management Reforms

25. In order to strengthen fiscal discipline, the government will implement the following measures:

The Minister of Finance will approve a new draft of the Financial Management law in line with World Bank and IMF comments on the last draft submitted to the Shura Council (SB, Table 5). This draft will include: prior Ministry of Finance approval of multi-year commitments; two set of budget execution reports: one on a cash basis, and, another one that will gradually include more and more elements measured on an accrual basis; and codification of the current intention not to invest any surplus oil revenues in domestic assets.

rcookie says(1:16 PM):

SO..HERE AGAIN WE AWAIT THE FINANCIAL MANAGEMENT LAW PASSAGE...AND OULINES WHAT THE AMENDMENTS TO LAW WILL INCLUDE

rcookie says(1:17 PM):

Improve Government Finance Statistics (GFS) reporting. Building on the IMF technical assistance recommendations, the Ministry of Finance will send to the IMF staff fiscal reporting tables (including revenue, expenditures and financing) at end-December 2015, end-March 2016 and end-June 2016 in compliance with the IMF Government Finance Statistics Manual 2014 (GFSM 2014, SB for the first review, Table 5). It will publish quarterly fiscal reporting tables in compliance with the IMF GFSM 2014 with a quarter lag on the external website of the Ministry of Finance starting on January 1, 2017.

rcookie says(1:17 PM):

SO HERE TASKED TO IMPROVE GFS REPORTING IN LINE WITH TA RECOMMENDATIONS...MoF WILL SEND FISCAL REPORTING TABLES TO IMF 12-15, 3-16, 6-16 WILL PUBLISH QUARTERLY FISCAL REPORTS ON MoF WEBSITE WITH 1 QUARTER LAG...

Okie Dinar says to MrsBGG(1:17 PM):

Will there be newstime tonight?

MrsBGG says to Okie Dinar(1:18 PM):

Good question :) yes, pretty sure, will verify :)

Okie Dinar says to MrsBGG(1:19 PM):

(y) Thank you!

MrsBGG says to Okie Dinar(1:19 PM):

you are welcome :)

bibi says(1:19 PM):

GA everyone!

MrsBGG says to bibi(1:19 PM):

Good afternoon :)

bibi says to rcookie(1:19 PM):

GA, Rcookie, thank you for bringing in the news and your commentary. Always appreciated.

(1:20 PM)clay changed nickname to .VIP.clay!

rcookie says(1:20 PM):

PLEASSE KEEP IN MIND THIS IS NOT AN ARTICLE...AN OPINION PIECE...STATEMENT....BUT RATHER DIRECTLY FROM THE IMF....AND SOMETHING NOT A SINGLE GURU HAS KNOWLEDGE OF OR USES AS BASIS OF PURSUING STATUS AS TO THIS INVESTMENT...WHICH IS WHY THE GUESSING...SPECULATION AND FOOLISHNESS WONDERING WHERE THEY STAND OR WHAT WE ARE LOOKING FOR....DU IS GETTING THIS FIRST....SO YOU ARE EONS AHEAD OF THE GURUS...

clay says to bibi(1:20 PM):

hey bibi :)

MrsBGG says to rcookie(1:20 PM):

Yes, thank you so much for the News!!

bibi says to MrsBGG(1:20 PM):

good afternoon, Mrs. BGG! (F)

rcookie says(1:20 PM):

HEY BIBI...YVW

bibi says to clay(1:20 PM):

Hey, Clay!

Okie Dinar says to bibi(1:20 PM):

GA Bibi! :)

rcookie says(1:20 PM):

HERE WE GO..

MrsBGG says to rcookie(1:20 PM):

Yeah!!!

j10000 says(1:21 PM):

that makes me a.............guru. Gee thats a lot Cookie:P

bibi says to Okie Dinar(1:21 PM):

Hello, OkieDinar! Thank you for copying!

Okie Dinar says to rcookie(1:21 PM):

(y)

jtank says(1:21 PM):

(y)

clay says to j10000(1:21 PM):

lol GA

rcookie says(1:21 PM):

Survey, audit and pay domestic arrears:The government will monitor with quarterly surveys the accumulation of arrears by systematically recording in detail and monitoring the existing unpaid obligations on aregular basis. It will complete of a survey of all domestic arrears, i.e. payment due for more than 90 days, at end-June 2016, including: (i) current spending (salaries, pensions, goods and services and capital purchases), managed by the Ministry of Finance; and (ii) non-oil investments (projects and any associated penalties), managed by the Ministry of Planning. The Ministry of Finance will elaborate a consolidated report on all these arrears for the included ministries. (SB for the first review, Table 5).

MrsBGG says to bibi(1:21 PM):

and pasting :D

clay says to jtank(1:21 PM):

hey buddy

Okie Dinar says to bibi(1:21 PM):

You're most welcome!

rcookie says(1:21 PM):

SO HERE UNDER DOMESTIC ARREARS BY JUNE 2016 WILL COMPLETE SURVEY OF AQLL DOMESTIC ARREARS AND OUTLINES EXPECTATION OF SURVEY IN DETAIL...

Okie Dinar says to MrsBGG(1:21 PM):

:D

Okie Dinar says to clay(1:22 PM):

GA :)

bibi says to MrsBGG(1:22 PM):

:D

MrsBGG says to Okie Dinar(1:22 PM):

:D

jtank says(1:22 PM):

clay

jtank says(1:22 PM):

mrs bgg

MrsBGG says to rcookie(1:22 PM):

(y)

j10000 says(1:22 PM):

Hi Clay...Hope all is well. Did I see you greeting people at Walmart the other day?

rcookie says(1:22 PM):

On the basis of each of these surveys, the government will prepare plans for the orderly payment of the arrears, following an independent audit of the arrears by the BSA and a repayment schedule in line with the government’s financing capacity. In its revised fiscal program for 2016 (¶20), the government has included the issuance of two-year bonds in a provisional amount of $2.5 trillion carrying an interest rate of 5 percent to repay part of theID 7.5 trillion in domestic arrears on non-oil investment identified by the Ministry of Planning (¶11). The government will set the amount of this issuance in light of the results of the audits of these arrears by the BSA, who will conduct it by end-August 2016, and its financing capacity.

MrsBGG says to jtank(1:22 PM):

Hey there (})

MrsBGG says to j10000(1:22 PM):

Good afternoon :)

clay says to j10000(1:22 PM):

could have been (lol)

rcookie says(1:22 PM):

SO...HERE AN AUDIT OF ARREARS & FINANCING CAPACITY BY BSA BY END OF AUGUST 2016...

MrsBGG says to j10000(1:23 PM):

Hey! He is a wonderful greeter and we are blessed to have him here :)

rcookie says(1:23 PM):

WHICH WE KNOW WAS COMPLETED..

rcookie says(1:23 PM):

The government will observe a ceiling on the accumulation of domestic arrears on non-oil investment as surveyed by the Ministry of Planning (IT, Table 5). The scope of this IT will be widened to include all domestic arrears on the occasion of future reviews in light of the results of the survey of domestic arrears on current expenditures on the occasion of the first review. This IT will be upgraded to a PC on zero accumulation of domestic arrears as soon as the government has developed the ability to reliably monitor and prevent them.

j10000 says(1:24 PM):

GA Mrs BGG. Thank you for this fantastic website. GREAT people.

rcookie says(1:24 PM):

CRITERIA

MrsBGG says to j10000(1:24 PM):

Good afternoon :) Yes we are blessed with a wonderful team and precious people here!

rcookie says(1:24 PM):

IT= INDICATIVE TARGET PC= PERFORMANCE CRITERIA

Okie Dinar says to rcookie(1:25 PM):

(y)

rcookie says(1:25 PM):

Take steps to move to a Treasury Single Account (TSA). As a first step, the Ministry of Finance and the CBI compiled a list of all bank accounts controlled by the Ministry of Finance and all spending units and sub spending units of the federal government, in CBI, state-owned and commercial banks at end-December 2015 (¶11). Going forward, the Ministry of Finance will implement the following measures:

MrsBGG says to rcookie(1:25 PM):

thank you for splaining :)

MrsBGG says(1:25 PM):

bbiab (})

j10000 says(1:25 PM):

including Clay.....we go back a few years with this investment.

Okie Dinar says to MrsBGG(1:25 PM):

(})

rcookie says(1:26 PM):

SO HERE AS MOVE TOWARDS TSA...THE MoF & CBI WILL COMPILE A LISTO OF ALL BANK ACCOUNTS CONTROLLED BY MoF...THIS WAS DOCUMENTED COMPLETED AT END OF DEC 2015...

rcookie says(1:26 PM):

Constitute a working group comprising representatives of the Ministry of Finance, CBI, Al Rasheed and Rafidain Banks and TBI to take stock on the readiness of the payment and settlement systems in the country, and develop a plan for modernizing systems to enable operation of a TSA by end-December 2016.

rcookie says(1:26 PM):

SO HERE A WORKING GROUP OF MEMBERS FROM CBI, MoF, RASHEED, RAFIDAIN & TBI DEVELOP PLAN FOR MODERNIZING SYSTEMS TO ENABLE TSA BY DECEMBER 2016...

rcookie says(1:27 PM):

In light of the existing and planned banking and financial management information technology infrastructure, develop a strategy, design and action plan for the phased development of the TSA by end-March 2017.

rcookie says(1:27 PM):

AND BY MARCH 2017 DESIGN ACTION PLAN FOR PHASED DEVELOPMENT OF TSA...

rcookie says(1:28 PM):

Create a Cash Flow Management Unit (CMU) and mandate it to develop cash flow forecasts that will identify cash needs over the course of the budget year as one of its core responsibilities (by end-June 2016) with the support of technical assistance by the IMF. These cash flow forecasts should include details of all receipts and payments into and from the central government accounts and should be used to inform the spending units about funding operations. The CMU will develop: 12-month rolling revenue cash forecasts by end-September 2016; and 12-month rolling expenditure cash forecasts based on the larger spending units by end- December 2016. Throughout 2017, the government will build CMU capacity to develop accurate in-year cash plans, including scenario analysis.

rcookie says(1:28 PM):

SO HERE THEY ARE LOOKING FOR CASH FLOW MANAGEMENT UNIT (CMU) BY END OF JUNE 2016...WITH 12 MONTH ROLLING REVENUE CASH FORCASTS BY END OF SEPTEMBER 2016 AND 12 MONTH ROLLING EXPENDITURE CASH FORECASTS OF LARGER SPENDING UNITS BY END DECEMBER 2016...AND IN 2017 WILL BUILD CMU CAPACITY ACURATE CASH PLANS INCLUDING SCENARIO ANALYSIS...

Pablo says(1:28 PM):

The TSA??? Good heavens! Are they going to be infesting the Iraq airports too? :D

JETSET says to Pablo(1:29 PM):

(lol)

Okie Dinar says to MrsBGG(1:29 PM):

Treasury Single Account (TSA)

JETSET says to Pablo(1:29 PM):

he explained that above

Okie Dinar says to Pablo(1:29 PM):

:D

JETSET says(1:29 PM):

still funny though

rcookie says(1:29 PM):

Set up a Cash Management Committee (CMC) by end-December 2016 to : (i) oversee the timely and orderly financing of the budget including monitoring of all outflows and monitor all inflows in the TSA/Treasury main accounts, all revenue collection and spending; (ii) monitor the macro- fiscal, macro-economic and monetary situation and activate corrective actions in a timely manner; (iii) ensure coordination and sharing of information between the key stakeholders; and (iv) facilitate policy discussions. Chaired by the most senior official of the Ministry of Finance, the CMC will include representatives of the Debt Management Department, the Budget Department, the Treasury, the Ministry of Oil, large spending units, and the CBI.

rcookie says(1:30 PM):

SO HERE THEY EXPECT A CASH MANAGEMENT COMMITTEE (CMC) CHAIRED BY MOST SENIOR MEMBER OF MoF AND INCLUDE DEBT MGMT DEPT, BUDGET DEPT, TREASURY, OIL MINISTRY AND CBI SET UP BY END OF DEC 2016...

Pablo says(1:30 PM):

The US Treasurey only has a single account??? Good heavens! No wonder your country is broke! :D

rcookie says(1:30 PM):

Gradually incorporate all government-related cash operations in the TSA, initially through the use of zero-balance operations during 2017–18, in light of the results of the audits of the financial statements of Rasheed Bank and Rafidain Bank and in sync with the implementation of their restructuring strategy (¶28) and the liquidity situation of any other bank where the government has accounts.

rcookie says(1:31 PM):

The following closing dates will apply for the 2016 budget execution: for commitments in respect of ordinary operating expenditures and non-oil capital expenditures, November 30, 2016; for commitments in respect of other expenditures, December 20, 2016; for payment orders,December 31, 2016; and for payment order processing by accountants, payment authorization, and regularization of expenditures, January 31, 2017. Thus, the supplementary accounting period will be limited to accounting operations, and an end-of-year circular will be sent by the end of

rcookie says(1:31 PM):

SO...CLOSING DATES FOR 2016 BUDGET EXECUTION OF PAYMENT ORDER PROCESSING & OPERATING EXPENDITURES & NON-OIL EXPENDITURES NOVEMBER 30, 2016 AND ALL OTHER EXPENDITURES BY DECEMBE 20, 2016

rcookie says(1:32 PM):

September 2016 specifying the deadlines for expenditure commitments and validation to ensure that all commitments can be closed out by November 30, 2016.

rcookie says(1:32 PM):

Design and implement a commitment control system for budget execution, in line with IMF technical assistance recommendations. To avoid emergence of new arrears, the immediate focus will include:

rcookie says(1:32 PM):

SO...HERE THEY ARE OUTLINING A MONTHLY BUDGET EXECUTION CONTROL SYSTEM TO AVOID EMERGENCE OF NEW ARREARS...

rcookie says(1:33 PM):

preparing a monthly budget execution report based on inputs from spending units;

implementing cash rationing for each spending unit;

rcookie says(1:34 PM):

MONTHLY BUDGET EXECUTION REPORTS.....ANY QUESTION AS TO THE BUDGET BEING 100% EXECUTABLE AS WAS 2016 BUDGET....

bubbles says to rcookie(1:35 PM):

(y)

rcookie says(1:35 PM):

improving the recording of commitments: decisions by the Minister of Finance and the Minister of Planning requiring all spending units to record all existing commitments; and production, by the Ministry of Finance, of a report of all recurrent and investment commitments (by project) in coordination with the Ministry of Planning (two SB, Table 5);

MrsBGG says(1:35 PM):

Don’t MISS – “DU NEWS TIME” w/RCookie, Mr White & Hutch in the DU CHAT ROOM – Thursday 7:30pm EST

rcookie says(1:35 PM):

prohibiting any commitment beyond quarterly allocations;

designing the templates required for a manual commitment control system based on the

Okie Dinar says to MrsBGG(1:36 PM):

(y) Thank you!

MrsBGG says to Okie Dinar (privately)(1:36 PM):

yes, News Time is a go, just posted

MrsBGG says to Okie Dinar (privately)(1:36 PM):

lol

MrsBGG says to Okie Dinar(1:36 PM):

MrsBGG has closed the private chat window!

rcookie says(1:36 PM):

Appendix 3 to the December 2015 FAD technical assistance report (by end-June 2016);11conducting training for spending units on the new system, including a clear definition of commitments (by end-August 2016);

MrsBGG says(1:36 PM):

you are welcome :)

Okie Dinar says to MrsBGG(1:36 PM):

(F)

MrsBGG says to Okie Dinar(1:36 PM):

thank you :)

rcookie says(1:36 PM):

SO HERE IS A PC DEADLINE FOR TRAINING ON SPENDING UNITS BY END OF AUGUST...

Okie Dinar says to MrsBGG(1:36 PM):

You're welcome!

bubbles says(1:36 PM):

wont miss it as long as we still have power

rcookie says(1:37 PM):

requiring all spending units to record all existing commitments (by end-September 2016); o Ministry of Finance to produce a report of all recurrent and investment commitments (by project) in coordination with the Ministry of Planning as at end-December 2016;

Okie Dinar says to bubbles(1:37 PM):

(y)

bibi says to rcookie(1:37 PM):

Thank you for this amazing analysis, Rcookie.

rcookie says(1:37 PM):

SO..END OF SEPTEMBER MoF PRODUCE REPORT OF RECURRENT INVESTMENT COMMITMENTS BY PROJECT WITH MINISTRY OF PLANNING BY END OF DECEMBER 2016...

rcookie says to bibi(1:37 PM):

(y)

rcookie says(1:38 PM):

ensure that commitment control functionality is designed in the Integrated Financial Management Information System (IFMIS) by end-July 2016; and

rcookie says(1:38 PM):

SO...ENSURE FUNCTIONALITY & DESIGN OF THE IFMIS BY END OF JULY 2016...

rcookie says(1:38 PM):

test the commitment functionality in the IFMIS pilot sites (in line with IFMIS pilot plans) by end-2018

bibi says to rcookie(1:38 PM):

(y)(v):)

rcookie says(1:39 PM):

COMMITMENT TO TEST IFMIS PILOT SITE FUNCTIONALITY BY END OF 2018...

rcookie says(1:39 PM):

Design and implement an Integrated Financial Management Information System (IFMIS) with the assistance of the World Bank:

as a first step, the Ministry of Finance will adopt, by end-June 2016, a road map detailing its core functional requirements, such as: the chart of accounts, multi-year expenditure tracking; carry-over of resources from one year to the next; and management of advances and cash management arrangements;

rcookie says(1:40 PM):

SO MoF WILL ADOPT BY JUNE 2016 AQ ROAD MAP DETAILING CORE FUNCTIONAL REQUIREMENTS CHART OF ACCOUNTS..MULTI TEAR EXPENDITURE TRACKING...

rcookie says(1:40 PM):

as a second step, the Ministry of Finance will take the necessary steps to hire a company to develop the IFMIS: it will publish the final standard bidding documents on its web site by end- July 2016, and sign the contract with the selected IFMIS vendor by end-February 2017;

rcookie says(1:40 PM):

SO HERE.. THE OUTLINES 2ND STEP MoF WILL HIRE COMPANY TO DEVELOP IFMIS AND PUBLISH FINAL STANDARD BIDDING DOCUMENTS ON ITS WEBSITE BY JULY 2016.AND SIGN CONTRACT WITH IFMIS VENDOR BY FEB 2017...

rcookie says(1:41 PM):

as a third step, the Ministry of Finance will develop, test and accept the IFMIS by end- November 2018; and

rcookie says(1:41 PM):

AND FINALLY 3RD STEP MoF WILL DEVELOP TEST AND ACCEPT IFMIS BY END OF NOVEMBER 2018...

rcookie says(1:41 PM):

as a final step, the Ministry of Finance will progressively roll out the IFMIS to pilot sites including the Ministry of Finance, the Ministry of Planning, the Ministry of Interior, the Ministry of Construction, Housing and General Municipalities, and the Baghdad and Babil Governorates by end-June 2020.

MrsBGG says(1:42 PM):

Don’t MISS – “DU NEWS TIME” w/RCookie, Mr White & Hutch in the DU CHAT ROOM – Thursday 7:30pm EST

rcookie says(1:42 PM):

SO...HERE AS LAST STEP... MoF IS TASKED TO PROGRESSIVELY ROLL OUT IFMIS TO PILOT SITES INCLUDING MoF, MINISTRY OF PLANNING, MINISTRY OF INTERIOR, MINISTRY OF CONSTRUCTION, HOUSING & GENERAL MUNICIPALITIES BY END OF JUNE 2020...

rcookie says(1:42 PM):

Implement Public Investment Management (PIM) reform with the assistance of the World Bank in line with Decree 445 of October 18, 2015 on PIM:

rcookie says(1:42 PM):

SO HERE IS MENTION OF PIM THAT WAS ANNOUNCED ON TIME WITH WB SUPPORT BACK IN 2015...

rcookie says(1:43 PM):

design the organizational structure of the PIM Central Unit at the federal Ministry of Planning (by April 2016) and make this structure fully operational (by end-December 2016);

rcookie says(1:43 PM):

SO..HERE IS INITIATIVE TO DESIGN ORGANIZATIONAL STRUCTURE FOR PIM CENTRAL UNIT AT MINISTRY OF PLANNING BY END APRIL 2016 AND MAKE FULLY OPERATIONAL BY DECEMBER 2016...

rcookie says(1:43 PM):

make and publish on the Ministry of Planning website a detailed inventory at both ministry and governorate levels of the portfolio of public investment projects (on-going and new projects with a minimum cost of US$10 million), having a feasibility study made through cost–benefit analysis and expenditure efficiency (by end-June 2016);

rcookie says(1:44 PM):

SO...HERE THEY NEED TO CREATE & PUBLISH ON THE MoF WEBSITE A DETAILED INVENTORY OF AT MINISTRY & GOV’T LEVELS PUBLICINVESTMENT PROJECTS ON GOING & NEW THYAT HAVE MINIMUM COST OF $10M, WITH FEASIBILITY STUDY AND COST BENEFIT ANAYSIS DONE BY END OF JUNE 2016..

rcookie says(1:44 PM):

conduct a capacity needs assessment for the PIM Central Unit at the federal Ministry of Planning and in the two IFMIS pilot governorates of Baghdad and Babel (by end-November 2016); and

rcookie says(1:44 PM):

SO HERE...BY END OF NOVEMBER 2016 THEY WILL CONDUCT A NEEDS CAPACITY ASSESSMENT FOR PIM CENTRAL UNIT AT MINISTRY OF PLANNING AND THE 2 IFMIS PILOT GOVERNATES OF BAGHDAD AND BABEL...

rcookie says(1:45 PM):

conduct training for the PIM Central Unit in line with the recommendations of the capacity needs assessment with a preliminary focus on the Logical Framework Approach and the Integrated Project Appraisal at a basic level (by end-2017).

rcookie says(1:45 PM):

AND HERE THEY NEED TO CONDUCT TRAINING ON PIM CENTRAL UNIT IN LINE WITH BTA RECOMMENDATIONS BY END OF 2017...

david334 says to rcookie(1:45 PM):

The cash flow expenditure/remitance matching data is largely funding/loans from outside countries directed towards infrastructureprojects. Additional cash flow for projects will generated from tax and tarrif revenue all with goal of matching incoming and outrgoing payments. This keeps project funding from ending up in someones pocket, but are the incoming cash flows all from non Iraqi loans and funding? Are there foreign investment projects that are off balance sheet from the MOF? Like airports ports , toll roads. Can the infrastructure projects be segregated into internal Iraqi financed and private funding

david334 says to rcookie(1:46 PM):

If your not finished I apologize . It can wait

rcookie says(1:46 PM):

Audit budget execution. The BSA will submit its report of the execution of the 2015 budget to parliament before the government submits the draft 2017 budget to parliament.

rcookie says(1:46 PM):

AND HERE...AN AUDIT OF THEIR BUDGET EXECUTION BY BSA WILL SUBMIT A REPORT OF EXECUTION OF 2015 BUDGET TO PARLIAMENT PRIOR TO THE SUBMISSION OF 2017 BUDGET TO PARLIAMENT...

rcookie says(1:47 PM):

PRIOR TO SUBMISSION OF 2017 BUDGET TO PARLIAMENT..........

rcookie says(1:47 PM):

Strengthen Debt Management. The capacity of the Public Debt Directorate will be strengthened with technical assistance support from the Japanese International Cooperation Agency (JICA), one of the largest bilateral and concessional lenders to Iraq. Starting in October 2015, a workshop was held

rcookie says(1:47 PM):

HERE THEY ARE BEING TASKED TO STREGTHEN THEIR DEBT MANAGEMENT CAPACITY WITH TECHNICAL ASSISTANCE FROM JICA OFF OF THEIR 2015 METAC WORKSHOP...

david334 says to rcookie(1:47 PM):

(y)

rcookie says(1:47 PM):

REMEMBER HOW IMPORTANT DEBT MANAGEMENT CAPACITY IS TOWARD EXCHANGE RATE DETERMINANTS WE TALKED ABOUT ON CALL... ..

j10000 says(1:48 PM):

great stuff cookie

rcookie says(1:48 PM):

with support from a debt management expert from JICA. This will be followed by a package of training programs consisting of a series of seminars and practical trainings for strengthening the capacity of the Public Debt Directorate. Some training courses may be held in cooperation with neighboring countries and international financial institutions. As a first step, the Public Debt Directorate will seek assistance to strengthen its debt recording systems.

rcookie says(1:48 PM):

HERE...WORKING WITH A JICA DEBT MGMT EXPERT THEY WILL CONDUCT A SERIES OF TRAINING PROGRAMS & SEMINARS FOR STRENGTHENING THE CAPACITY OF PUBLIC DEBT DIRECTORATE TO BE HELD IN COOPERATION WITH NEIGHBORING COUNTRIES AND INT ’L FINANCIAL INSTITUTIONS TO SEEK TA IN STRENGTHENING DEBT RECORDING SYSTEMS..

rcookie says(1:49 PM):

TA=TECHNICAL ASSISTANCE....

j10000 says(1:50 PM):

glad you clarified that...thot we were really going off track! :D

david334 says to rcookie(1:50 PM):

?

rcookie says(1:50 PM):

BA DEE...BA DEE...BA DEE THATS ALL FOR PUBLIC FINANCIAL MANAGEMENT REFORM INITIATIVES...TASKS...EXPECTTIONS AND PERFORMANCE CRITERIA DEADLINES........

rcookie says to j10000(1:50 PM):

I WAS RHINKING THE SAME THING...:D

j10000 says(1:51 PM):

sorry......beehave

rcookie says to j10000(1:51 PM):

HEY DAVID....

rcookie says(1:51 PM):

OPPS

rcookie says(1:51 PM):

SORRY FOR THE ABYSSMAL TYPING...

david334 says to rcookie(1:51 PM):

Hi pain in the butt here just have a question on debt management

Okie Dinar says to david334(1:52 PM):

:D

Okie Dinar says to rcookie(1:52 PM):

TY!! :)

jimplants says(1:52 PM):

you have nothing to apologize for

rcookie says to jimplants(1:52 PM):

HEY JIM....GA SIR..

david334 says to jimplants(1:53 PM):

Thanks good stuff

jimplants says(1:54 PM):

i pulled off the road so i could read now i need to wait on chat logs to get the rest. unless you tell me the have begun the MCP

david334 says to rcookie(1:55 PM):

quick ?

rcookie says to david334(1:56 PM):

SHOOT

clay says to jimplants(1:57 PM):

hey buddy

clay says to david334(1:57 PM):

GA :)

jimplants says(1:57 PM):

GA

david334 says to rcookie(1:57 PM):

The AH HA moment for the Iraq/currency is the point of cash surplusesas the economy starts to generate non oil GDP revenue.

rcookie says(1:57 PM):

EVERY WORD OF THAT POSTING IS DIRECTLY FROM THE 2016 IMF LOI/MEFP.TMU.....

rcookie says(1:58 PM):

MENTIONED THESE ON CALL AND POSTED AGAIN YESTERDAY...HANG ON...

david334 says to rcookie(1:58 PM):

Debt service ratios can drop fast (+) once FAW and LNG and every other non enrgy reveue $ ramps

david334 says to rcookie(1:59 PM):

Someone has done a five year spread sheet and it aint S&P

david334 says to rcookie(2:00 PM):

Citibank has with a trillion GDP forcast out in the future

rcookie says(2:00 PM):

AGREED AND THEY ARE ALREADY TRENDING IN RIGHT DIRECTION WITH OIL REVENUES GOING TO REPRESENT LESS THAN 90% OF GDP FOR 1ST TIME....

david334 says to rcookie(2:01 PM):

Port of FAW is near term and big yet the agencies are ZZZZZ

david334 says to rcookie(2:02 PM):

rating agencies I meant

david334 says to rcookie(2:02 PM):

Great stuff rcookie Thanks

rcookie says(2:02 PM):

NOW FACTOR IN PORT OF FAW...CONTINUED INCREASE IN EXPORT PRODUCS AND CUSTOMS TARIFF REVENUES....CMPLETE COLLECTION OF TELECOMMUNICATIO & ELECTRICITY DUES AND TAXES THROUGH ELECTRONIC DIRECT DEBIT........NOT TO MENTION THE COMPREHENSIVE ECONOMIC & FINANCIAL DATA CAPTURE AND REPORTING FROM ALL PROVINCES THEY WILL HAVE.......WOW!!!!!!!!

jimplants says(2:04 PM):

you need to stop telling people the line to invest will be at least three other people

rcookie says(2:05 PM):

SO ON THE REVENUE SIDE ....ESPECIALLY THE NON OIL REVENUE STREAMS INCREASING.....OIL PRODUCTION CAPACITY INCREASING DRIVING THE REVENUES FOR THE BUDGET........NOW FACTOR IN ALL THE EXPENDITURE REFORMS WE TALKED ABOUT YESTERDAY....SAVING THEM MONEY ON THE OTHER SIDE...PENSION REFORM...PRIVAIZATION OF SOE'S ETC....THEY ARE EXPANDING GDP BY THE MILLI SECOND...

david334 says to rcookie(2:06 PM):

sovereign finance people get it institutional pension , mutual funds and hedge funds don't ...yet !

david334 says to rcookie(2:07 PM):

The new MOE has increased production capacity and talked about all the upside from here

david334 says to rcookie(2:08 PM):

in production value.

rcookie says(2:09 PM):

YES BUT IRAQS OPEC QUOTA REMAINS AT 14%.....AND WITH IRANS OIL NOW FULLY AT PLAY WILL NOT DEVIATE...WELL SEE AT END OF MONTH...

rcookie says(2:09 PM):

BUT THEIR BUDGET FOR 2017 STILL AT 3,6 MBPD...

Continue to Part 5
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