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IMF: Reconstruction in liberated cities is slow

rocky
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Post by rocky on Sat 27 Jul 2019, 6:26 am

First topic message reminder :

IMF: Reconstruction in liberated cities is slow

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Economy News Baghdad
The International Monetary Fund (IMF) said that reconstruction in Iraqi cities liberated from Da'ash is proceeding at a slow pace.
The IMF said in a press release after the conclusion of the Executive Council Article IV consultations for 2019 with Iraq and viewed by the "economy News", the non-oil GDP rose by 0.8% year on year in 2018, referring to "weak implementation of reconstruction And other public investments. "
The IMF stressed that "the gross domestic product (GDP) shrank by about 0.6 percent with the reduction of oil production under the OPEC + agreement," and predicted that "the budget will return to a deficit of 4% of GDP in 2019."
Growth in non-oil GDP is also expected to reach 5.5% in 2019, but will decline again in the medium term.
The IMF warned of two things: "the main risk to the prospects of falling oil prices, which could reduce exports and reduce budget revenues, and thus lead to a sharper decline in reserves or a sharper rise in public debt" and "risks stemming from tensions And the possibility of social unrest in the context of weak public services and lack of progress in the fight against corruption.
The IMF stressed that the Iraqi authorities should "seize the opportunity to improve the security situation and increase oil prices to implement structural policies and reforms aimed at ensuring macroeconomic and financial stability, addressing long-standing social problems and promoting sustainable and inclusive growth."

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Diamond
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Post by Diamond on Sun 28 Jul 2019, 6:22 pm

[You must be registered and logged in to see this link.] wrote:So do we wait for iraq to accept chapter 8? Sept. RV still?
not sure since currency is only thing art 8
mochasmom
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Post by mochasmom on Sun 28 Jul 2019, 6:31 pm

They can do it anytime now ...why not now...that 7/31 deadline is looming
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Post by Screwball on Sun 28 Jul 2019, 10:05 pm

[You must be registered and logged in to see this link.] wrote:They can do it anytime now ...why not now...that 7/31 deadline is looming
Deadline for what?
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Post by Screwball on Sun 28 Jul 2019, 10:06 pm

I suppose they could do it anytime but I think it won’t happen until September? October at latest?
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Post by merrygoround on Mon 29 Jul 2019, 12:54 pm

bump bump
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azareus
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Post by azareus on Mon 29 Jul 2019, 1:16 pm

2 weeks maybe lol
Lobo
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Post by Lobo on Mon 29 Jul 2019, 1:28 pm

After missing the mid-May deadline to have the Iraq Trade Bank operational in Saudi Arabia - ribbon cutting was in April - the CBI said the Trade Banks would be operational in Saudi Arabia, Dubai and China by August.  July 31 is Wed. - and there has been a lot of activity and reporting coming from the IMF, so I am praying that this time, their timing is correct and we see the RV on Wed. or the latest, Thurs., Aug. 1st. Also, PM Mahdi told the people that value would be added to their currency during this legislative term which was to end June 30 but was extended to July 31 (some say until the weekend of Aug. 3) but with Fri. and Sat. being their weekend and banks closed, the optimal time would be July 31/Aug. 1.  Don't forget the ATMs are being placed throughout Iraq, in private banks, in stores, in airports and the banks have been training their people for months for this RV.  The CBI said that they and the private banks are linked up to international banks and can wire money back and forth instantly - just too much information slowly released over the past few months to ignore the big picture being painted.  Keep praying
devo45044
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Post by devo45044 on Mon 29 Jul 2019, 3:08 pm

Sounds like straight forward thinking to me Lobo. Thank you, enjoyed the post.
mochasmom
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Post by mochasmom on Mon 29 Jul 2019, 3:53 pm

Duck always said on a Sunday  when all banks are closed but we will see, thanks lobo
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Post by Lobo on Mon 29 Jul 2019, 3:58 pm

Well, we will see what the CBI does, Iraq's first day of the week is a Sunday, but the international banking week starts on a Monday.  There is a time difference - so it could be a Sunday, and our banks would be closed.  All I know is what the CBI said about the Trade Banks being operational by August.

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