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Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

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Established in 2006 as a Community of Reality

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    Parliamentary Finance: no intention to repeal Article 14 of the Convention on the International Mone

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    Parliamentary Finance: no intention to repeal Article 14 of the Convention on the International Mone Empty Parliamentary Finance: no intention to repeal Article 14 of the Convention on the International Mone

    Post by wciappetta Wed 31 Aug 2016, 5:55 am

    Why would Saleah be opposed to this article 14? It's an international standard. Unless it's misreported and he actually is advocating an exit of art 14 provision of the IMF articles of agreement which would mean a full embracement of IMF art 8

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    Economy News / special parliamentary finance committee confirmed that it has no intention to abolish Article 14 of the International Monetary Fund agreement signed with Iraq on the granting of loans, while confirming that the past parliament to vote on all articles and paragraphs Convention.Committee Chairman Mohammed Halbusi in an interview for "Economy News," there was no intention by the Finance Committee or Parliament in general to stop or cancel Any of the Iraqi articles of the Convention with the IMF on loans, stressing that all the materials pour the interests of Iraq and the parliament's past vote on them. He added that the international loan will save Iraq from a lot of economic and financial problems that affected the monetary reserves and the general economic situation in the country. 




    The Prime Minister's Advisor appearance of Mohammed Saleh, has asked parliament to suspend or stop the Article 14 of the International Monetary Fund agreement with Iraq ", saying that Iraq is required to terminate this paragraph being negatively affect the banking sector and the economy of the country and so far there is no real movement by the Parliament and the World Bank Central to stop this Article.
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    " It is said that Article / 14 / of the International Monetary Fund Agreement gives freedom to the countries of the exit of the Iraqi capital and without restrictions and that will lead to the escape of most of the capital under the pretext of trade goods that do not match with the Iraqi specifications and with the amount of hard currency emerging (in the opinion of experts in economic affairs). AJ
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    Parliamentary Finance: no intention to repeal Article 14 of the Convention on the International Mone Empty Re: Parliamentary Finance: no intention to repeal Article 14 of the Convention on the International Mone

    Post by Diamond Wed 31 Aug 2016, 6:17 am

    article 14 is under UN sanctions an article 8 is what they are workin for, but who would'da thought such a thing lol!
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    Parliamentary Finance: no intention to repeal Article 14 of the Convention on the International Mone Empty Parliamentary Finance: no intention to repeal Article 14 of the Convention on the International Mone

    Post by Rocky Wed 31 Aug 2016, 6:54 am

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    2016/08/31 | 09:50


    (Encyclopedia of the Day News | [You must be registered and logged in to see this link.] ) - Economy News special parliamentary finance committee, confirmed that it has no intention to abolish Article 14 of the International Monetary Fund agreement signed with Iraq on thegranting of loans, while confirming that the past parliament to vote on all articles and paragraphs Convention. 

    He Committee chairman Mohammed Halbusi in an interview with economy News, it is the intention of the Finance Committee or parliament does not exist in general to stop or cancel Any of the Iraqi articles of the Convention with the IMF on loans, stressing that all the materials pour the interests of Iraq and the parliament 's past to vote onthem. 

    he the international loan will save Iraq from a lot of economic and financial problems that affected the monetary reserves and the general economic situation in the country. 

    the Prime Minister 's Advisor appearance of Mohammed Saleh, has asked parliament to suspend or stop the Article 14 of the international Monetary Fund agreement with Iraq , saying that Iraq is required to stop this paragraph being negatively affect the banking sector and the economy of the country and so far there is no real movement by the parliament and the central bank to stop this article. 

    It is said that Article 14 of the international Monetary Fund Agreement gives freedom to the countries of the exit of the Iraqi capital and without restrictions and that will lead to the escape of most capital under the pretext of trade goods do not match with the Iraqi specifications and with the amount of hard currency emerging in the opinion ofexperts in economic affairs. 

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    Parliamentary Finance: no intention to repeal Article 14 of the Convention on the International Mone Empty Re: Parliamentary Finance: no intention to repeal Article 14 of the Convention on the International Mone

    Post by Diamond Wed 31 Aug 2016, 7:16 am

    TY ward, an rocky
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    Parliamentary Finance: no intention to repeal Article 14 of the Convention on the International Mone Empty Re: Parliamentary Finance: no intention to repeal Article 14 of the Convention on the International Mone

    Post by wciappetta Wed 31 Aug 2016, 8:59 am

    Its real good news to hear these things leak out....


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    Parliamentary Finance: no intention to repeal Article 14 of the Convention on the International Mone Empty Re: Parliamentary Finance: no intention to repeal Article 14 of the Convention on the International Mone

    Post by duck2000 Wed 31 Aug 2016, 9:07 am

    Diamond wrote:article 14 is under UN sanctions an article 8 is what they are workin for, but who would'da thought such a thing lol!
    gunna need to see a LINK where article 14 is a sanction of the U.N !

    cause article says IMF!
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    Post by duck2000 Wed 31 Aug 2016, 9:11 am

    [th]Payments Restrictions[/th]
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    ARTICLES VIII AND XIV
    There has been in recent years a substantial improvement in the balance of payments and the reserve positions of a number of Fund members which has led to important and widespread moves to the external convertibility of many currencies. Most international transactions are now carried on with convertible currencies, and many countries have progressed far with the removal of restrictions on payments. In consequence of these developments, it seems likely that a number of members of the Fund either have reached or are nearing a position in which they can consider the feasibility of formally accepting the obligations of Article VIII, Sections 2, 3, and 4. Previous decisions taken by the Fund, such as those on multiple currency practices, bilateral arrangements, discriminatory restrictions maintained for balance of payments purposes, and payments restrictions for security reasons, indicate the Fund’s attitude on these matters. The present decision has been adopted as an additional guide to members in pursuance of the purposes of the Fund as set forth in Article I of the Articles of Agreement.

    • 1. Article VIII provides in Sections 2 and 3 that members shall not impose or engage in certain measures, namely restrictions on the making of payments and transfers for current international transactions, discriminatory currency arrangements, or multiple currency practices, without the approval of the Fund. The guiding principle in ascertaining whether a measure is a restriction on payments and transfers for current transactions under Article VIII, Section 2, is whether it involves a direct governmental limitation on the availability or use of exchange as such. Members in doubt as to whether any of their measures do or do not fall under Article VIII may wish to consult the Fund thereon.

    • 2. In accordance with Article XIV, Section 3,[You must be registered and logged in to see this link.] members may at any time notify the Fund that they accept the obligations of Article VIII, Sections 2, 3, and 4, and no longer avail themselves of the transitional provisions of Article XIV. Before members give notice that they are accepting the obligations of Article VIII, Sections 2, 3, and 4, it would be desirable that, as far as possible, they eliminate measures which would require the approval of the Fund, and that they satisfy themselves that they are not likely to need recourse to such measures in the foreseeable future. If members, for balance of payments reasons, propose to maintain or introduce measures which require approval under Article VIII, the Fund will grant approval only where it is satisfied that the measures are necessary and that their use will be temporary while the member is seeking to eliminate the need for them. As regards measures requiring approval under Article VIII and maintained or introduced for nonbalance of payments reasons, the Fund believes that the use of exchange systems for nonbalance of payments reasons should be avoided to the greatest possible extent, and is prepared to consider with members the ways and means of achieving the elimination of such measures as soon as possible. Members having measures needing approval under Article VIII should find it useful to consult with the Fund before accepting the obligations of Article VIII, Sections 2, 3, and 4.

    • 3. If members at any time maintain measures which are subject to Sections 2 and 3 of Article VIII, they shall consult with the Fund with respect to the further maintenance of such measures. Consultations with the Fund under Article VIII are not otherwise required or mandatory. However, the Fund is able to provide technical facilities and advice, and to this end, or as a means of exchanging views on monetary and financial developments, there is great merit in periodic discussions between the Fund and its members even though no questions arise involving action under Article VIII. Such discussions would be planned between the Fund and the member, including agreement on place and timing, and would ordinarily take place at intervals of about one year.

    • 4. Fund members which are contracting parties to the GATT and which impose import restrictions for balance of payments reasons will facilitate the work of the Fund by continuing to send information concerning such restrictions to the Fund. This will enable the Fund and the member to join in an examination of the balance of payments situation in order to assist the Fund in its collaboration with the GATT. The Fund, by agreement with members which are not contracting parties to the GATT and which impose import restrictions for balance of payments reasons, will seek to obtain information relating to such restrictions.


    Decision No. 1034-(60/27),
    June 1, 1960
    [You must be registered and logged in to see this link.] Ed. Note: Corresponds to Article XIV, Section 1 of the Articles of Agreement after the Second Amendment.
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    Parliamentary Finance: no intention to repeal Article 14 of the Convention on the International Mone Empty Re: Parliamentary Finance: no intention to repeal Article 14 of the Convention on the International Mone

    Post by duck2000 Wed 31 Aug 2016, 9:14 am

    Article VIII: General Obligations of Members

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    Section 1.  Introduction
    In addition to the obligations assumed under other articles of this Agreement, each member undertakes the obligations set out in this Article.

    Section 2.  Avoidance of restrictions on current payments

    • (a) Subject to the provisions of Article VII, Section 3(b) and Article XIV, Section 2, no member shall, without the approval of the Fund, impose restrictions on the making of payments and transfers for current international transactions.

    • (b) Exchange contracts which involve the currency of any member and which are contrary to the exchange control regulations of that member maintained or imposed consistently with this Agreement shall be unenforceable in the territories of any member. In addition, members may, by mutual accord, cooperate in measures for the purpose of making the exchange control regulations of either member more effective, provided that such measures and regulations are consistent with this Agreement.



    Section 3.  Avoidance of discriminatory currency practices
    No member shall engage in, or permit any of its fiscal agencies referred to in Article V, Section 1 to engage in, any discriminatory currency arrangements or multiple currency practices, whether within or outside margins under Article IV or prescribed by or under Schedule C, except as authorized under this Agreement or approved by the Fund. If such arrangements and practices are engaged in at the date when this Agreement enters into force, the member concerned shall consult with the Fund as to their progressive removal unless they are maintained or imposed under Article XIV, Section 2, in which case the provisions of Section 3 of that Article shall apply.

    Section 4.  Convertibility of foreign-held balances

    • (a) Each member shall buy balances of its currency held by another member if the latter, in requesting the purchase, represents:

      • (i) that the balances to be bought have been recently acquired as a result of current transactions; or
      • (ii) that their conversion is needed for making payments for current transactions.



    The buying member shall have the option to pay either in special drawing rights, subject to Article XIX, Section 4, or in the currency of the member making the request.

    • (b) The obligation in (a) above shall not apply when:

      • (i) the convertibility of the balances has been restricted consistently with Section 2 of this Article or Article VI, Section 3;
      • (ii) the balances have accumulated as a result of transactions effected before the removal by a member of restrictions maintained or imposed under Article XIV, Section 2;
      • (iii) the balances have been acquired contrary to the exchange regulations of the member which is asked to buy them;
      • (iv) the currency of the member requesting the purchase has been declared scarce under Article VII, Section 3 (a); or
      • (v) the member requested to make the purchase is for any reason not entitled to buy currencies of other members from the Fund for its own currency.




    Section 5.  Furnishing of information

    • (a) The Fund may require members to furnish it with such information as it deems necessary for its activities, including, as the minimum necessary for the effective discharge of the Fund’s duties, national data on the following matters:

      • (i) official holdings at home and abroad of (1) gold, (2) foreign exchange;
      • (ii) holdings at home and abroad by banking and financial agencies, other than official agencies, of (1) gold, (2) foreign exchange;
      • (iii) production of gold;
      • (iv) gold exports and imports according to countries of destination and origin;
      • (v) total exports and imports of merchandise, in terms of local currency values, according to countries of destination and origin;
      • (vi) international balance of payments, including (1) trade in goods and services, (2) gold transactions, (3) known capital transactions, and (4) other items;
      • (vii) international investment position, i.e., investments within the territories of the member owned abroad and investments abroad owned by persons in its territories so far as it is possible to furnish this information;
      • (viii) national income;
      • (ix) price indices, i.e., indices of commodity prices in wholesale and retail markets and of export and import prices;
      • (x) buying and selling rates for foreign currencies;
      • (xi) exchange controls, i.e., a comprehensive statement of exchange controls in effect at the time of assuming membership in the Fund and details of subsequent changes as they occur; and
      • (xii) where official clearing arrangements exist, details of amounts awaiting clearance in respect of commercial and financial transactions, and of the length of time during which such arrears have been outstanding.



    • (b) In requesting information the Fund shall take into consideration the varying ability of members to furnish the data requested. Members shall be under no obligation to furnish information in such detail that the affairs of individuals or corporations are disclosed. Members undertake, however, to furnish the desired information in as detailed and accurate a manner as is practicable and, so far as possible, to avoid mere estimates.

    • (c) The Fund may arrange to obtain further information by agreement with members. It shall act as a centre for the collection and exchange of information on monetary and financial problems, thus facilitating the preparation of studies designed to assist members in developing policies which further the purposes of the Fund.



    Section 6.  Consultation between members regarding existing international agreements
    Where under this Agreement a member is authorized in the special or temporary circumstances specified in the Agreement to maintain or establish restrictions on exchange transactions, and there are other engagements between members entered into prior to this Agreement which conflict with the application of such restrictions, the parties to such engagements shall consult with one another with a view to making such mutually acceptable adjustments as may be necessary. The provisions of this Article shall be without prejudice to the operation of Article VII, Section 5.

    Section 7. Obligation to collaborate regarding policies on reserve assets
    Each member undertakes to collaborate with the Fund and with other members in order to ensure that the policies of the member with respect to reserve assets shall be consistent with the objectives of promoting better international surveillance of international liquidity and making the special drawing right the principal reserve asset in the international monetary system.
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    Parliamentary Finance: no intention to repeal Article 14 of the Convention on the International Mone Empty Re: Parliamentary Finance: no intention to repeal Article 14 of the Convention on the International Mone

    Post by duck2000 Wed 31 Aug 2016, 9:15 am

    so with all this you eliminate the auctions and revalue you single currency! peroid 
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    Parliamentary Finance: no intention to repeal Article 14 of the Convention on the International Mone Empty Re: Parliamentary Finance: no intention to repeal Article 14 of the Convention on the International Mone

    Post by duck2000 Wed 31 Aug 2016, 9:16 am

    dont ya just hate da facts?   laugh

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