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Monday, June 5, 2017

"Appeal Postponed" - Mon. PM KTFA Thoughts/News


Walkingstick » June 5th, 2017

IMF Team Reaches Staff-Level Agreement on Second Review of Stand-By Arrangement with Iraq

June 5, 2017

End-of-Mission press releases include statements of IMF staff teams that convey preliminary findings after a visit to a country. The views expressed in this statement are those of the IMF staff and do not necessarily represent the views of the IMF’s Executive Board. Based on the preliminary findings of this mission, staff will prepare a report that, subject to management approval, will be presented to the IMF's Executive Board for discussion and decision.

The Iraqi authorities and the IMF mission have reached agreement on a supplementary budget for 2017, objectives for the 2018 budget, and strengthened procedures to keep expenditure under control

The SBA aims to restore fiscal and external balance and to improve public financial management while protecting social spending.

The Iraqi authorities and an International Monetary Fund (IMF) team reached a staff-level agreement on the second review of the Stand-By Arrangement (SBA) that was approved by the IMF Executive Board on July 7, 2016 (See Press Release No. 16/321).

The SBA aims to restore fiscal and external balance and to improve public financial management while protecting social spending. Iraq completed the first review under the SBA on December 5, 2016 and received a disbursement of SDR 0.46 billion (US$0.6 billion) (See Press Release No. 16/540). Completion of the second review will release a further disbursement of SDR 0.6 billion (US$0.8 billion).

Mr. Christian Josz, Mission Chief for Iraq, issued the following statement today in Amman:
“The Iraqi authorities and the IMF team have reached agreement on a supplementary budget for 2017, objectives for the 2018 budget, and strengthened procedures to keep expenditure under control. Both the supplementary 2017 budget and the 2018 budget will keep the fiscal consolidation, necessitated by the fall in oil prices, on track, while protecting social spending.

“Once agreed prior actions have been implemented, the IMF Board could consider the second review of the SBA in August.

“During the discussions, the team met with Acting Governor of the Central Bank of Iraq (CBI), Dr. Ali Mohsen Ismail Al-Allaq, Deputy Chief of Staff of the Prime Minister, Dr. Naufel Al-Hassan, Chairman of the Board of Supreme Audit, Dr. Salah Noori Khalaf, Acting Deputy Finance Minister, Ms. Taif Same, Deputy Minister of Planning, Dr. Qasim Enaya, Deputy Minister of Electricity, Mr. Abdel Hamza, Financial Adviser to the Prime Minister, Dr. Mudher Saleh, and officials from the ministry of finance, Central Bank of Iraq (CBI), the Board of Supreme Audit, the ministry of oil, the ministry of planning, the ministry of electricity, and a representative from the Kurdistan Regional Government.

The team would like to thank the Iraqi authorities for their cooperation and the open and productive discussions.”


Don961 » June 5th, 2017

Abadi: the future will be better for Iraq and Iraqis

History of edits:: 2017/6/5 22:10 • 77 times readable

[Oan- Baghdad]

Prime Minister Dr. Haider al - Abadi stressed the importance of the care of orphans and the need to qualify them for a better future.

A statement issued by his office received by all of Iraq [where] a copy of the Abadi "met a group of orphans and eat breakfast with them, and pointed out that these are flowers and buds Iraq and nice to meet also teaches, and applaud the efforts that are cared for , explaining the importance Altburaei and voluntary and achieved care work ".

Abadi said that " the future will be better for Iraq and Iraqis, and will soon release the entire territory and then proceed to the reconstruction of our cities and this will be the efforts and unity of Iraqis."


Don961 » June 5th, 2017

The Amman meeting with the IMF result in a supplementary budget for the current year

Baghdad / Zahraa Al-Jassem

After the second review of consultations from the standby credit program signed between Iraq and the International Monetary Fund in the Jordanian capital Amman, a senior source said that the two sides had agreed to provide budget supplemental for the current year include contractors and farmers ' allocations recently paid, with the circulation of the federal budget indicators in 2018.

The second review consultations began last Thursday and lasted four days, and sought Iraq from which to obtain a loan of about $ 840 million, as part of a standby credit program signed between the two sides.

High - level , who preferred anonymity , the source said in an interview (range), that the consultations "ended with great success, and presented the results of the consultations of the Executive Board of the International Monetary Fund at its meeting to be held early next August,"

He added that Iraq and the IMF international agreed during the consultations to provide budget supplementary to the year 2017, and include the agreed points of contractors and farmers recently paid bills issued by the Ministry of Finance and some other issues of allocations, as well as the circulation of the federal budget indicators in 2018, where the program concludes to reach the so - called fiscal adjustment in the face of Massaa The balance of payments due to oil revenue volatility and its impact on the federal budget, which requires maximizing the non - oil financial resources and reduce spending and deficit financing from the planned sources of internal and external , including parts of the IMF loan, as Iraq is expected to receive a share of $ 840 million in the month next August, out of the total fund of $ 5.3 billion loan.

He continues , the source said: The Fund defends the program Alastaqrara overall economy by giving priority loans and public spending to the so - called social spending which areas of education, health , social welfare and displaced persons, where the fund is keen on the subject of sustainability or carrying capacity of public debt, meaning " the ability to pay it " through maximizing revenue and control expenses and control, in order to stabilize the crossing of no crisis in public resources because of the oil crisis and the decline in oil revenues, as well as the Iraq war now being waged against terrorism costs.

And it corrects the source by saying that, the financial adjustment program adopted by the International Monetary Fund with Iraq and the targeting of non - oil revenues and control spending, all are ways to maintain the sustainability of reserves at the Central Bank of Iraq.

The financial advisor to Ebadi , the appearance of Mohammed Saleh, has explained in response to a question (range), on the importance of these talks, that Iraq is seeking to obtain a loan of about $ 840 million, as part of a standby credit program, for a period of 36 months starting from July 7, 2016, the soft loan of approximately the $ 5.3 billion, paid off over five years, as the program provides financial umbrella for Iraq has more than $ 15 billion, including soft loans from the World Bank and the Group of seven major industrialized countries, with other loans from funding programs Ktogel premiums compensation for the Kuwait war.

He chaired the IMF meetings with Iraq, Governor of the Central Bank of Iraq , Ali Ismail Keywords financial advisor to the prime minister the appearance of Mohammed Saleh, with the participation of a number of agents ministries and the President of the Office of Financial Supervision, while attended part of these consultations and for the first time, Deputy Director of the Office of the Prime Minister.

The agreement aims to re - balance public finance and external account to calculate and improve public financial management while protecting social spending for Iraq, according to an interview with a former head of the IMF mission (range) and between that Iraq can assume its debt if the Iraqi authorities carried out the agreed financial correction with the Fund under an agreement standby credit.


MilitiaMan » June 5th, 2017

So they postponed the Appeal to the 06/13/2017 time line. Just after the celebration on the 10th. This was the fast move by Abadi and Barzani in regard to the budget of 2017 last year.

Remember there are people that added things into the budget after it was signed by Barzani. That was a huge no no. Now we see today (previous articles) that Tamimi or some other MP wants heads to roll for the pilfering of about $112 billion..

I suspect the two Leaders new what they were doing and this is shaping up into their favor. I imagine the article on Friday by the UNSC gave the judge a little heart attack. Probably some names on the 785 UST list are a smidge nervous about now.

Looks like the kettle has plenty of wood to stoke the flames for a week. I wouldn't want to be in the shoes of those that forged the papers in the Budget. They will be singing Canary Songs be sure..

Where did the 112 billion go? Is that money denominated in $USD or was it in IQD? I don't think that amount of IQD is going to be found under an MPs matress. lol ~ MM imo I could have all this wrong.. lol Maybe not too.

Federal Court postpones appeal against the budget to next Monday

2017/6/5 12:30

Postponed the Federal Supreme Court on Monday, a lawsuit to challenge the financial budget for the year 2017 to 13 June this brief summary on Monday.

According to a statement issued by the Information Office of the Court, the agency {Euphrates News} received a copy of it, that " the Federal Supreme Court today held its considered a number of cases on its agenda."

The statement continued , " The first lawsuit filed by the Prime Minister in addition to his job at the head of the House of Representatives in addition to his stabbed twenty - three articles of the budget law for the current year materials."

He explained that " the plaintiff has to pay the experts assigned by the Tribunal for the purpose of deciding on the technical aspects of the subject of appeal fees."

The statement added that " the court agreed to the request of the President of the Independent Electoral Commission by entering a third person in the case of being stabbed stabbing the Prime Minister on the salaries of the Commission contained in Article 50 of the budget allocations."

The statement pointed to "postpone the case to day 13 of this month in order to invite experts and assigning them their duties and legal Thalifam."

The statement said that " the Court has considered another suit to challenge Article {9 / d / 4} of the budget law and decided to enter the Prime Minister in addition to the function of a third party to clarify him what it takes to resolve the case being responsible for the implementation of the budget, and it was decided to postpone this case to 12 of the next month Report for the purpose of the Prime Minister in addition to his job. "

The statement noted that " a third court case its view from the Minister of Agriculture , in addition to his post to challenge the decision of questioning issued by the House of Representatives."

The statement went on that " the court decided to postpone the case to the 12th of next month, until the legislative recess to the end of the House of Representatives."

The Federal Court had considered at its last Monday the case concerning the appeal of three and twenty items from the general budget for the law of 2017 submitted by Prime Minister Haider al - Abadi in addition to his job against House Speaker Salim al - Jubouri , in addition to his job as the court decided to elect three experts in the field of budgets to submit their report regarding financial aspects. "

a statement to the court that" the experts ' report will include the diagnosis of additions or transfers, and whether adding a financial burden on the budget is a phenomenon in its terms, but will appear after the application, "noting that" the report also will answer the possibility of loss of that infringement Data or additions of budgetary resources, and whether the defendant in addition to his job has exceeded his constitutional powers? ".

He added that" experts from their statement all transfers or add the impact on the budget ceiling ", following that" the meeting was postponed to the fifth of next month , for the purpose of experts provide their report. "

the Prime Minister Haider al - Abadi presented an appeal before the Federal Court of all transfers that reward the House of Representatives on the budget of 2017, which is estimated to be worth B280 billion dinars , including 54 billion dollars has to balance transfers were Council Alnwab.anthy


Aggiedad77 » June 5th, 2017

Someone help me here.....when did the Kurds start signing off on the Iraqi budget.....I don't remember that......it's Abadi's budget and needs Masum's signature to make it all tidy and official like......

Don't think Barzani is a player here, not a visible one anyway.....I do agree that crew of 785 likely has candidates who were the guilty parties to adding to the budget in an illegal-like fashion.....we've always done that before....how else will we get kickbacks and discounts for all our cousins and oh don't forget the chickens....but who knows I've been wrong before....just ask my beautiful bride. Aloha Randy



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