BLC Admin Tlm724 Morning News Comments 12/20/2014
Disagreement on external borrowing by $ 5 billion postpone an extraordinary session of the government
[tlm724] so GOI wants to borrow 5 billion dollars from the IMF too help reduce the deficit in the budget but the CBI is saying hey *slap* we have other ways of doing before we take that step
[tlm724] The cabinet held a special meeting on Thursday evening to discuss the federal budget, and talked about the government directed to send the budget to Parliament before the end of the month.
[tlm724] postponed its planned special session Thursday to Monday will be devoted to the discussion of the budget in 2015, “attributing it to” the continued volatility in global oil prices and rising deficit ratio to 36 trillion dinars. “
[tlm724] Monday will be devoted to the discussion of the budget in 2015,
[tlm724] as we have been saying they continue to work out the details as they should, these are extreme circumstances they before them and when you look at what Maliki did that just made things worse.
they had to spend tons on security just to save their country, the oil prices fell at the same time so we just have to wait this out,.
They will impose taxes etc… but those take time to start seeing the real revenue flowing, they need immediate action to proceed
[tlm724] hang on just a sec I think rocky posted an art that explains the CBI’s plan brb
Abadi government intends to borrow from the Fund and the Central Bank Calls for Troy 20-12-2014 12:17 AM Parliamentary Finance Committee revealed,
for the government’s intention to borrow $ 5 billion from the International Monetary Fund, but the central bank pressed further ‘expenses pressure’ before heading to external borrowing. http://www.bondladyscorner.com/t107729-abadi-government-intends-to-borrow-from-the-fund-and-the-central-bank-calls-for-troy
[tlm724] , but the central bank pressed further ‘expenses pressure
[tlm724] get more expenses reduced or eliminated before you borrow externally
[tlm724] we wait til next week to see where they are at
~~~ Araji: The Cabinet will vote on the budget on Monday or Tuesday
The Council of Ministers will be held, on Monday, a special meeting to discuss the financial budget,” explaining that “if agreed upon would be passed to vote and vote for them and if they are not agreed upon will vote for in the next day, a Tuesday
[tlm724] “there is nothing to hinder the vote except for some technical things,” pointing out that it “will be present in the House of Representatives at the end of the year,
[tlm724] technical issues, what we just talked about
[tlm724] expected in Parliament by the end of the year, 11 days
~~~ The Ministry of Finance resort to tax increases and the imposition of customs duties to reduce the budget deficit
[tlm724] resort to tax increases and the imposition of customs duties to reduce the budget deficit
[tlm724] so they will impose taxes on all goods entering except food and medicine
[raindrop1] so what do you think the hold up is for the full application of the tariffs is…the budget……or dare I say an RV!!!!
[tlm724] *hallelujah* this is another good thing to come out of all this, forcing them to take action on so many levels ! There are silver linings, you just have to look for them
[tlm724] raindrop1 it wasn’t one specific thing, it has been a combination of things, ISIS, a bad leader M who didn’t want to see any change at all, it took a change in power and will to make these things happen. It’s like a perfect storm if ya know what I mean
[shunshine] Do it right the first time, I like that.
[tlm724] Abadi is working as fast as he can though, can you imagine his mind must go 24/7 with SO MANY things that have to be addressed and then fixed ! I have lost track there is so much
[shunshine] Poor man, its alot to deal with.
[tlm724] yeah but he is doing it *hallelujah*
[raindrop1] well they can’t be doing stupid stuff like decreasing the tariffs for Jordan
[shunshine] *hallelujah* yes he is.
[tlm724] raindrop1 yeah they can because Jordan is going to increase their trade at a discount price, you gotta look at the whole deal, one hand is washing the other, it works out in the end
[shunshine] thats right
[raindrop1] well use soap…not sand!!!!!
[tlm724] raindrop1 lol good one
Abadi economic adviser likely not to fall in oil prices below $ 55-60 rate
[tlm724] Iraq is losing more than a billion dollars a year with each drop of $ single in the price of a barrel of oil
[tlm724] so with every drop of one dollar in the price of oil Iraq loses a billion dollars a year say the oil dropped by 40 dollars a barrel then they lose 40 Billion a year ! No wonder they are scrambling for a solution !
[cat] they weren’t complaining when the price was over 100 dollars
[tlm724] thats right they weren’t cat, they were loving life, not so much now but you want to know the good news?
[cat] tlm724 yeppers
[tlm724] it is technical issues now NOT bickering among the blocs !
[tlm724] because you know the the blocs can mess up a picnic
[tlm724] so onward we go !
[tlm724] could be worse is what I’m saying and the Kurds are happy