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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

Many Topics Including The Oldest Dinar Community. Copyright © 2006-2020


    Expert's (Il Giornale): reimburse oil companies installments proper solution to the country's econom

    Rocky
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    • Post n°1

    Expert's (Il Giornale): reimburse oil companies installments proper solution to the country's econom Empty Expert's (Il Giornale): reimburse oil companies installments proper solution to the country's econom

    Post by Rocky Thu 16 Jun 2016, 4:25 am

    [size=37]Expert's (Il Giornale): reimburse oil companies installments proper solution to the country's economic crisis[/size]


    BAGHDAD Journal News 
    confirmed the financial advisor to the prime minister Wednesday to prepare the credit agreement with the International Monetary Fund, included suitable for the reimbursement of the international oil companies operating in Iraq settlement, noting that it would be paid inthe form of premiums from the general budget, not to exceed one billion dollars a month.
    He said the appearance of Mohammed Saleh, said the Stand-By Agreement with the IMF included the subject of the reimbursement of foreign oil companies operating in Iraq and find appropriate settlement, pointing out that the oil ministry embarked on a mechanism for the payment of these receivables as security for not delayed.
    Saleh added that the development of oil fields dues would be paid in the form of premiums from the general budget, not to exceed amounts of one billion dollars per month, and complete end of the year in accordance with the agreement, noting that it includes taking into account the duration of the permit held accountable usually extend for four months. Saleh continued that the recent increase in oil prices to below $ 50 a barrel will not delay the implementation of reforms launched by the Prime Minister.
    And on the other requests of the International Monetary Fund, confirmed Saleh, that the Fund's requirements and approved by the Cabinet at its meeting last Tuesday, the seventh of June the current 2016, through the adoption of economic and financial policies that have been reached between the parties on according to the initial agreement between the two note, continued that the ratification of the agreement between the parties will be by the end of June, the current fund management to become valid.
    Economic Adviser explained that the economic reforms required by the IMF include a tax increase in electricity charges and improve banking supervision level to fight corruption and money laundering, among the reforms require adjusting work in government institutions and a review of government employees bloated salaries accounts to eliminate the phenomenon of granting the salaries of those who do not perform their duties in the correct.
    So lauded economist Majid picture, the action undertaken by the Federal Government for the payment of financial dues to oil companies, calling it a good step in line with the Iraqi crisis, the economy, noting that the situation in the country requires concessions to overcome the obstacles and to serve the country.
    He added that the economic process in the country needs a concerted effort from everyone, whether they are officials in the federal government or the province in order to advance, and pointed out: that a payment of financial dues to oil companies operating a good step.
    But the parliamentary finance committee member Husam punitive description, IMF clause in his loan for Iraq to pay late dues oil to foreign companies operating in the country end of the year 2016 as "unjust". Punitive and said that "the IMF's condition was unfair against Iraq was on the Iraqi delegation negotiating with the IMF did not agree with him and Ergoh to deal with the Iraqi side and the oil companies."
    He stressed "We must negotiate a phased repayment of the companies will not be required Iraq to pay accumulated the end of this year, the debt being will increase the fiscal deficit and financial distress." He added punitive "We're talking about pay at least a billion dollars a month for companies because of the backlog on Iraq in the past two debt and the last three, and it seems that the Iraqi negotiating delegation was pressured fact repaid affect Celia on the existence of financial liquidity and we will have to internal loans. "He continued a member of the parliamentary finance committee" should be dialogue with the companies as beneficiaries of the drop in prices as service contracts in order to reduce a lot of operational and investment expenses in them. "
    He called on the punitive "on the government to review the licensing rounds ongoing negotiations with foreign companies to gain access to contracts to reduce expenses and holding new agreements with belonging to a drop in prices and the stage Aeltsid receivables not required Iraq to pay all the dues this year."
    He was the financial advisor to the Prime Minister, the appearance of Mohammed Saleh, revealed in the 27 of May 2016, about Iraq get estimated at approximately $ 20 billion international financial umbrella.
    And knows the International Monetary Fund that, a specialized agency of the Bretton Woods system of the United Nations, was established under an international treaty in 1945 to work on enhancing the safety of the global economy, and is based in Washington DC, and managed by the members include almost their number of 188 countries all countries of the world.
    The Finance Minister Hoshyar Zebari announced on the 19th of May 2016, to reach an agreement with the World Bank Fund for a loan worth $ 5.4 billion, while the loan will allow securing additional financial assistance to reach about $ 15 billion over the next three years, Governor of the Central Bank of Iraq, on the Keywords confirmed that the annual interest of the loan up to 1.5 percent.
    Iraq had declared the 13th of January 2016, for the approval of the International Monetary Fund to finance the budget deficit through clouds of hard currency reserves, indicating that this means reducing the reserves of $ 59 billion October 2015 the last end, to 43 billion during the current year .
    Iraq seeks member of the Organization of Petroleum Exporting Countries OPEC to seek support for its budget from the international community after shrinking revenues due to the oil price collapse two years ago which led to the widening budget deficit and delayed benefits companies producing exchange for Kham.anthy 4
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