IMF report No. 16/225

Statement

The Board of the International Monetary Fund approved a standby credit loan SBA for a period of three years for Iraq and the rights of special drawing SDR value of 3.831 billion units (approximately: 5.34 billion, or percentage of 230%); to support the economic reform program adopted by the Iraqi government that the council authentication managed 455 Exchange million units of Special Drawing rights (about 634 million dollars) in July Iraq received a boost on according to the rapid financing funding instrument, ie the equivalent of one million units of Special Drawing rights (approximately 1.24 billion in the approval time).

The reform of the Iraqi economy, a program supported by the Stand-By loan SBA aims to address the urgent needs of the payments budget and adapt spending to the level of low world oil prices, and to ensure the survival of the debt level can afford it, the program also includes measures to protect the poor and strengthening public financial management, and enhance the stability of the financial sector, and reduce corruption, Iraq will need the support of the international community to implement these policies.

The International Monetary Fund today completed the first and second control program revision Fund experts SMP with Iraq, which was approved by the Director of Administration in the January 12, 2016.

In the wake of the signing of the Board of Directors, he issued a Deputy Director, who serves as Chairman of the Board, Mr. Min Zhu Min Zhu following statement:

(The Iraqi economy has been severely affected by the Sdmtin surfaced in the wake of the sharp drop Daesh in world oil prices attacks), then he added: (The policies implemented by the authorities to deal with those suitable impact at, in the financial field authorities carried out a fair amount of adjustment policies financial mostly came through the reduction of non-effective capital spending while maintaining social spending and funding policies, and in the inner area authorities maintained a peg to the US dollar, which is the President of the economy LED).

He continued by saying: The fiscal adjustment envisaged for the years 2016 to 2019 is suitable to relieve the pressure caused by lower oil revenues, as well as higher spending on humanitarian and security affairs, but the fiscal adjustment structure must be improved over time, in order to make room for an increase in investment spending but about a more effective, that the reform of public financial management system is necessary; in order to improve fiscal discipline, as well as improve the quality of spending, the implementation of the sharing of the budget with the KRG agreement puts both the federal government (federal) and the government of the region in a better position to respond to attacks Daesh The oil price shock.

تقرير صندوق النقد الدولي رقم 16 / 225

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Iraq will monopolize airline flights between Iraq and Europe

 

Boeing subsidiary Iraqi Airways at Baghdad International Airport

 

Author: AT, MK
Editor: the AT
9/10/2016 14:33
Number of Views: 968

 

Long-Presse / Baghdad

Revealed a senior source in the Ministry of Transport, that the functions airline Iraq company approved the Ministry of Transport on the recently established, will monopolize flights from Iraq to Europe during the next term, and among the Iraqi Airways company will be dedicated to regional transport, pointed out that a large proportion of the company’s shares It will be for shareholders.

The source said, in an interview to the (long-Presse), “The work of the airline Iraq, which voted by the ministry opinion Authority, on the first Friday, is still under study study and research in order to develop accurate with details,” stressing that “the airline Iraq will replace Airways Iraqi air to operate flights to European countries and will be allocated to the Iraqi Airways to operate regional transport. “

The source indicated that “Iraqi Airways where problems and indicators in the European Union was on the basis of stop flights to Europe and difficult to resolve these problems now so experts suggested the establishment of another company,” noting that “the new company’s establishment will not affect the work of other national carriers “.

The source, who asked not to be named, said that “the idea is currently in the proportion of the new company to the state and the largest percentage of the shareholders are,” pointing out that “the ministry has plans to create a subsistence Corp. and ground services company air cargo as is the case in which the countries of the world instead of relying on foreign companies. “

The Ministry of Transport announced, the (7 October 2016) the founding airline Iraq air carrier, and as pointed out Overture aviation University US for “activating twinning” with the ministry, has invited airline companies to global order to benefit and exchange of experiences.

Iraq will be the airline company and the Ministry of Transport announced that its foundation is the “second government company” to fly in Iraq after Iraqi Airways which dates its founding to the thirties of the last century.

The history of the founding of the Iraqi Airways “Green Bird” due to (18 May 1938), when it recommended the Iraqi Aeronautical Society on the purchase of three aircraft type (Darkin Rapid), in aircraft factories (De Havilland), has reached Baghdad Saturday (first October 1938), and a domestic trips and to neighboring countries.

Iraq had possessed more than 20 civilian aircraft Ilyushin Russian (Eastern Fleet), an Iraqi Airways prior to 1991, were destroyed, mostly in Desert Storm, and the transfer of the other part of them to neighboring countries during the period of sanctions.

Iraq signed in May 2008, the first two decades with the company (Boeing) US to buy 40 aircraft, and the second with the company (Bombardier) Canadian, to buy ten aircraft, while the Ministry of Finance showed that the total value of the two contracts amounting to five billion dollars.

Iraq and received since the end of 2012 until the month of October of 2015, a number of Boeing aircraft within the site with the company’s contract and that it is hoped that the end of the year end 2018, also received a Bombardier aircraft CRJ900 over the past years, bringing the number of its fleet of aircraft about 32 aircraft belonging to Iraqi Airways.

The Ministry of Transport announced (20 March 2015) received the new aircraft from Boeing under the contract signed between Iraq and the company during the year 2008, while confirming that the Iraqi Airways fleet currently consists of 28 aircraft.

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Check tax revenue of $ 2.4 trillion dinars in 2016

 

Sums of money

 

Author: AB, MK
Editor: AB
9/10/2016 23:27
Number of Views: 7

 

 

Long-Presse / Baghdad

Finance Committee announced in the House of Representatives, to achieve tax imports Authority $ 2.4 trillion dinars since the beginning of the year 2016, and revealed that the body so close to achieving the goal of imports of three trillion dinars, while confirming that the rest of the departments and institutions have not achieved revenues planned.

Committee Chairman Mohammed Halbusi in an interview (range Press), “The non-oil imports are installed in the budget in 2016 was estimated at nearly 12 trillion dinars, but all departments and state institutions have not achieved the planned budget only tax authority,” noting that “Authority has made to date revenue of $ 2.4 trillion dinars, which is approaching its goal of three trillion dinars.”

He Halbusi, that “there are failures in the form of customs and failures in the collection of funds in some circles,” he said. “The existence of efforts to reward hardworking achievement of imports and punish Almtlki.”

He Halbusi, that “non-oil imports in the budget estimates for 2017 We have not had so far,” expected to “up the budget next week to look for in the House of Representatives.”

Iraq relies on oil revenues by up to more than 90% in the financing of its budget, but there are efforts by the government to increase non-oil revenues to cover the shortfall as a result of lower oil prices and the global markets.

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  Basra council announces new electricity tariff cancel after the tenth of Muharram

 

History of edits:: 10/09/2016 22:5919 visits readable
{Basra: Euphrates News} The chairman of the Basra Governorate Council Albzona good morning, all come to a decision to abolish the new tariff of fees imposed on electric power plants and factories in the province after the tenth of the month of Muharram.
He Albzona in a statement received by the agency {Euphrates News} a copy of it today that ” the Coordinating Committee of the provinces raised the proposal ofthe Ministry of Electricity to repeal the new tariff for fees of electric power imposed on factories to the prime minister, pointing out that the cancellation decision will be issued after the tenth of the month of Muharram.”
Said ” the local government of Basra followed the subject of increasing new tariff for fees of energy imposed on laboratories and factories of private sector employers during our meeting with the coordinating Committee for the provinces of Baghdad on Thursday, noting that the chairman of the Committee Torhan Mufti in turn raise the recommendations issued by the Ministry of Electricity to thepresidency of the Council Ministers to be applied to work the old pricing system. ” it is
noteworthy that a number of the province of Basra plants have closed their doors on Saturday and has laid off workers in protest at the increase in electricity fees, as pointed chairman of the Committee of planning and follow – up in the House ofBasra Mansouri emerged that the amount of the increase amounted to 10 times what it was in the past, stressing that this rise in pay is not commensurate with the total spent by the province of the regional development funds in the past years on the Gaza Alkahraba.anthy

 

Parliamentary Integrity confirms “cover” on the officials’ corruption of two million “border ports and its intention to refer them to eliminate

 

 

Iraq Ports

 

Author: SKM
editor: BK
10/09/2016 19:08
Number of Views: 462

 

Long-Presse / Basra

It revealed to the Parliamentary Integrity Committee, on Sunday, the existence of “excesses” millions of dollars on imports of the state border ports since the implementation of the customs tariff, confirming its intention to refer “involved officials of covering up corrupt” to justice.

A member of the committee, Bahaa Jamal al-Din, in a statement received (long-Presse) a copy of it, that “land, sea ports witnessing the excesses of the country’s imports as well as legal and financial irregularities have a clear impact on the country’s economy,” noting that the “abuses have taken place since the application of the law customs tariff at border crossing points. “

He said Jamal al-Din, that “the Parliamentary Integrity Commission formed a sub-committee to follow up the work of government agencies at border crossing points to reduce the waste of public money at them,” likely “the Committee for documents and permits to prove the existence of wasting money in millions of dollars, and the involvement of many officials of covering up the perpetrators so corruption “.

He explained optic MP, that “a lot of traders are increasing the price of their goods under the pretext of paying an added tariff of customs duties,” adding, “but in real do not pay only a quarter of the fees should be imposed on them, as a result of collusion with some of the workers in the ports, and they change the type of goods or origin to reduce those fees. “

He stressed Jamal al-Din, the determination “of the Parliamentary Integrity Commission to refer the file to eliminate the subject when it is completed.”

The members of the committees of integrity and economy, the Parliamentary, visited the port of Umm Qasr in Basra, in the (fourth from October 2016 ongoing), as a result, the formation of a fact-finding commission on transactions Indian rice, controversial, and the other to follow the work of border crossings.

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«IMF» abandon Greece financially except to advise

 

 

09-10-2016 08:38 PM

Hits: 393

Orbit News –

WASHINGTON (Reuters ) –

Two sources familiar with the «IMF» International said it would not join the Greek bailout program, but it could not accept the role of a special advisory gives limited powers to remain present in the process.
Fund and resisting for more than one year under which conditions participate in any new program for Greece, saying that the financial targets inthe European rescue plan is realistic in the absence of any significant debt relief.
But exporters said that the Fund has accepted reluctantly European refusal to bring down Greece ‘s debt, and that it is in talks to play a new role allows him toparticipate in an official form is limited.
One source said: «will be more than a counselor, but the role will not include strict requirements such as compliance audits and safety of the economy every three months».
Greece faces talks with creditors Europeans and «IMF» dilemma ever since the Minister of the German money Wolfgang Schaeuble insisted on theparticipation of the fund, but he refused at the same time calls its director Christine Lagarde to a significant restructuring of the debt.
The source said that «this way, Lagarde may be directed to the Council says: I do not disagree with the rules, and will be expanded Schaeuble , who is facing his government elections in the autumn to say: Look … IMF me.»
It was determined by the nature of the Fund ‘s role yet, but his powers will exceed advisory role, as will be responsible for example for the formulation of the proposed agreements, documents negotiation and coordination with Greece and the EU.
The second source said: «money will not participate in the program, but it will not be just a technical assistance … is likely to play the role of a special advisory will be created specifically for the program to save Greece».

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Vice-law: Parliament resumes Tuesday in the presence of al-Abadi

 

Political

Since 10/09/2016 19:44 pm (Baghdad time)

BAGHDAD – balances News

It confirmed the MP for the coalition of state law, Nahla Alhbabi, Sunday, that the House will resume its sessions next Tuesday after a visit of Ashura in the presence of Prime Minister Haider al-Abadi to display the names of the candidates for the vacant ministries.

It’s Alhbabi / balances News /, that “the House of Representatives will resume its sessions next Tuesday of next week.”

“The meeting will see the presence of Prime Minister Haider al-Abadi to provide the names of the candidates for the vacant ministries, including the interior and defense,” predicting that “the meeting is witnessing sharp differences on the candidates’ names and the names of rejected candidates for the security ministries.”

The Prime Minister Haider al-Abadi pledged today Ptkadina skies candidates for vacant ministries after the resumption of the Council of Gelsath.anthy 29/33 h

 

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