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Operation Disclosure https://operationdisclosure.blogspot.com/ RV/INTELLIGENCE ALERT - April 20, 2018 Current Overview: (Disclaime...

Sunday, September 18, 2016

"Busy Agenda" - Sun. PM KTFA Thoughts/News


 » September 18th, 2016

Greetings WS ... thank you .... More people added to the list :

He said the "the prime minister will meet with a large number of leaders and world leaders on the sidelines of these meetings, including US President Barack Obama and the heads of France, Egypt and Iran," he said, adding that it "also Slataki the king of Jordan and the Secretary-General of the United Nations Organization and the World Bank President and the Secretary General of NATO, as well as a large number of heads of European states. "

Busy agenda ... Quite a mixture of World leaders and officials !! ...IMO

 » September 18th, 2016

Abadi, head to New York to attend the meetings of the General Assembly

Baghdad: Euphrates News} directed Prime Minister Haider al-Abadi to New York at the head of an official delegation to attend the meetings of the General Assembly of the United Nations session 71.

A statement by the Office of Abadi and Euphrates News Agency {} received a copy of it today that "Abadi, Iraq will deliver a speech at the United Nations will also hold


Urgent Abadi , head to New York

Abadi, head to New York this evening

 » September 18th, 2016

Gold enhances the economic status of the country


BAGHDAD / Hussein al - Tamimi

in Iraq was ranked 37 on the world 's reserves of gold in accordance with the order of the World Gold Council, an economist stressed that this category is positive and reflects the good image of the money and the Global Monetary institutions.

Consultant Baghdad Economic Forum Samir Nasiri said in an interview for the "morning": the proportion of gold to $ 50 billion dinars is a good reserve a rise whenever cash reserves dropped either outcome , where he arrived analysis are that Iraq 's reserves of foreign exchange and gold is good to cover the local currency. credit rating , adding that the situation in Iraq at this location enhances its credit rating it which will make theinternational Monetary Fund take that positive outlook to deal with Iraq economically and I expect that cash reserves would rise in light of expectations of rising prices for thethree months ahead and that the reserves enough to cover imports up to 6 months. inturn, the specialist in economic affairs Ahmed al - Sumaidaie: that Iraq is a rich and capable country to overcome All economic challenges, and gold reserves , but part of the sources of economic power held by Iraq.

He pointed out that the reform of production and service sectors in Iraq and capital preservation cycle locally will boost gold reserves , which is a source of strength of the relationship of Iraq and the global financial institutions. the Iraq ranked 37 among states acquiree gold steady reserve in accordance with the assurances of the World Council of gold, and that Iraq 's reserves of gold andfixed represents 7.1 percent of its reserves of foreign currency, noting that Iraq is still ranked 37 among the countries that have reserves of gold. stationary reserves and cited the Council in its website statistics official revealed that "Iraq 's reserves of gold remained stable and did not change, reaching 89.9 tons , " pointing out that "this amount represents 7.1 percent of its reserves of foreign currency, after it had been representing 4.6 percent during the month of January."

He said the council that "Iraq I did not buy gold since last buy him in April 2014 in which 15.16 tonnes bought , "noting that" Iraq was ranked 37 out of 100 countries possess reserves of gold have been included within the global central bank reserve report. " it means the World gold Council: Organization for the development of the market for the manufacture of gold and work within theinvestment, jewelery and technology sectors, as well as engaging in government affairs, aimed at providing leadership in the industry and stimulate and support the demand for gold, based Kingdom United.


Samson » September 18th, 2016

Zimbabwe squabbles - rock IMF

September 16, 2016

Fierce behind-the-scenes battles have erupted in and around the International Monetary Fund (IMF) to ensure Zimbabwe is not discussed at the annual meetings of the boards of governors of the IMF and World Bank Group in Washington DC on October 3-9 as the debt-ridden country seeks to secure new funding.

This comes as it emerged an IMF delegation, which was supposed to arrive in Harare last Friday, aborted its visit as the fight over the Lima Plan escalates.

Zimbabwe’s US$1,8 billion arrears clearance plan was initially expected to be discussed on the sidelines of the IMF annual meetings, but this now seems unlikely. The delegation’s no-show could signal the death of the Lima Plan.

Responding to questions from the Zimbabwe Independent yesterday, an IMF spokesperson in Washington DC said “the exact dates of the mission are yet to be finalised”.

“The purpose of the intended mission would be to assess economic developments since the last staff mission in June, follow-up on the policy announcements in the mid-year fiscal policy review (statement) presented by the Minister of Finance last week and the monetary policy statement presented by the (Reserve Bank of Zimbabwe) governor (John Mangudya) earlier today. The team is currently taking stock of these various measures,” said the IMF spokesperson.

Indications are that Zimbabwe will not be discussed at the annual meetings, effectively scuttling the Lima Plan which was endorsed at the annual meetings in Lima, Peru, last year.
The annual meetings are usually held for two consecutive years at the IMF and World Bank headquarters in Washington DC and every third year in another member country.

In a briefing on various countries on September 1, IMF head of communication and spokesperson Gerry Rice said the fund was not discussing a financing programme with Zimbabwe.

“I just want to clarify as I’ve done here before, there is no financing programme under discussion with Zimbabwe at this point,” said Rice.

“The authorities have announced the plan to clear their arrears with the Fund and other international institutions as part of their re-engagement with the international community. They are working on that. Once the arrears would be cleared the IMF’s board would need to meet and approve the normalisation process and any programme negotiation, financial support from the IMF could only begin at that point.”

The last time the IMF deliberated on Zimbabwe was on May 2 when its executive board concluded the Article IV Consultation with Zimbabwe and third review under the Staff-Monitored Programme.

The rescheduling of the visit comes at a time Zimbabwe’s economic crisis is deepening as reflected by tight liquidity conditions resulting from limited external inflows and lower commodity prices. Inflation has also remained in negative territory on the back of a firming US dollar against regional currencies.

“The mission was scheduled to arrive last Friday, but did not come, which could effectively signal that Zimbabwe’s arrears clearance programme could be in jeopardy,” a source said.
However, Zimbabwe effectively put its arrears clearance plan off the rails when cabinet this week rejected austerity measures Finance minister Patrick Chinamasa announced last Thursday, reflecting infighting within government.

Zimbabwe remains in debt distress and international reserves are low.

In May, the IMF said unless the country undertakes bold reforms, the economic difficulties will continue in the medium-term. The multilateral lender added that given the outlook for the global economy, growth is projected to remain below levels needed to ensure sustainable development and poverty reduction.

Some of the key benchmarks for reform include reducing the size of the wage bill to re-orient spending towards priority capital and social outlays; improving debt management; developing a comprehensive public financial management strategy; and strengthening value-added tax policy and key processes in revenue administration; and improving the business environment, including a transparent and consistent application of the indigenisation policy and a new comprehensive land reform programme.

The debt-ridden country has also committed to compensate white commercial farmers who lost farms during the chaotic land reform programme.

Zimbabwe has further failed to come up with viable strategies for the reform of state enterprises which are currently haemorrhaging the cash-strapped Treasury.

In April last year, government launched a joint exercise with preferred creditors — the World Bank, International Monetary Fund and the African Development Bank (AfDB) — to explore options to clear US$1,8 billion in arrears under a plan first proposed last year.

This plan was presented last October in Lima, Peru, and was amended in May 2016 to include repayment of IMF arrears (US$120 million) using Zimbabwe’s Special Drawing Rights resources at the fund; repayment of International Bank of Reconstruction and Development (IBRD) arrears (US$896 million) using a term facility syndicated by the African Export and Import Bank and Lazard Frères; and repayment of International Development Association (IDA) and AfDB arrears (US$260 million and US$601 million respectively) with a bridging facility from Afreximbank to be financed from future IDA development policy operation and AfDB’s transitional support facility.

The arrears clearance plan also includes approaching the Paris Club after the international financial institutions arrears clearance.

While the IMF has welcomed the plan, which initially received broad support internationally, government has been unable to come up with new development plans and private sector-led growth initiatives.

Mangudya yesterday said plans were on course to settle the arrears by December 31 this year, adding that not paying could have far-reaching economic consequences.

“The re-engagement exercise is very important. The sequence is that you only pay when the board is meeting. What we know though is that after the annual meeting of IMF and World Bank that is when they will meet. So for the sake of consistency and for the sake of not wanting to confuse anyone in this country, we said by the 31st of December,” Mangudya said.




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