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Thread: Iraq seeks seven-billion-dollar loan from IMF

  1. #1
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    Default Iraq seeks seven-billion-dollar loan from IMF

    Iraq seeks seven-billion-dollar loan from IMF

    1 hour 42 mins ago

    Iraq wants a seven-billion-dollar loan from the International Monetary Fund (IMF) to cover its budget deficit, Finance Minister Baqer Jabr Solagh said in an interview published on Monday.

    "Iraq is trying to secure a seven-billion-dollar loan from the IMF to cover its budget deficit for this year and next," he told Al-Sabah newspaper.

    Solagh said Iraq was also seeking to encourage creditor countries to forgive some of its debts in exchange for "a more open door" approach to investments in his oil-rich country.

    In March, the Iraqi parliament passed a 58.9 billion-dollar budget for 2009, after billions were wiped off spending plans because of a sharp fall in oil prices.

    Oil and gas production accounts for 90 percent of the war-ravaged country's revenues.

    The financial shortfall comes at a difficult time for Iraq as the nation of 29 million people struggles to emerge from a brutal sectarian conflict triggered by the 2003 US-led invasion.

    Restoring basic services such as water, electricity and sewage disposal is crucial to ensuring that the bloodshed that peaked in 2006 and 2007 is not triggered again by civilian unrest.

    A projected 20.3-billion-dollar deficit this year was initially expected to be financed by unspent allocations from the 2008 budget.


    http://uk.news.yahoo.com/18/20090525...n-3cd7efd.html

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    Quote Originally Posted by copper13 View Post
    Iraq seeks seven-billion-dollar loan from IMF

    1 hour 42 mins ago

    Iraq wants a seven-billion-dollar loan from the International Monetary Fund (IMF) to cover its budget deficit, Finance Minister Baqer Jabr Solagh said in an interview published on Monday.

    "Iraq is trying to secure a seven-billion-dollar loan from the IMF to cover its budget deficit for this year and next," he told Al-Sabah newspaper.

    Solagh said Iraq was also seeking to encourage creditor countries to forgive some of its debts in exchange for "a more open door" approach to investments in his oil-rich country.

    In March, the Iraqi parliament passed a 58.9 billion-dollar budget for 2009, after billions were wiped off spending plans because of a sharp fall in oil prices.

    Oil and gas production accounts for 90 percent of the war-ravaged country's revenues.

    The financial shortfall comes at a difficult time for Iraq as the nation of 29 million people struggles to emerge from a brutal sectarian conflict triggered by the 2003 US-led invasion.

    Restoring basic services such as water, electricity and sewage disposal is crucial to ensuring that the bloodshed that peaked in 2006 and 2007 is not triggered again by civilian unrest.

    A projected 20.3-billion-dollar deficit this year was initially expected to be financed by unspent allocations from the 2008 budget.


    http://uk.news.yahoo.com/18/20090525...n-3cd7efd.html
    Thanks copper.

    What I would like to know is, where are the budget surpluses from previous years when the full budget was never implemented?

    Can anyone tell me?
    vivere bene, tanto amore, ridere spesso - la vita č troppo breve

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    Very interesting. Maybe Iraq is planning on the major conversion from Iraq Dinar - RV time?

    Anyone else notice it is time for Iraq to start behaving like the soverign country it touts to be, and at the same time start paying for their security? That includes 5-years of back payments to the US led coalition - in the billions.

    Everyone on this site should be after our elected leaders daily - phone, email, fax, carrier pidgeon - to cut US funding, and get Iraq running as a country and paying their own way. Especially Obama fans. Time to leave Iraq to Iraq. The resources are there, and Iraqi leadership claim to have all the answers on how to live - just like every other country in the Middle East.

    So, now is the time for Iraq to take action and make it happen. No more US Dollar. Time for Iraq to have an internationaly recognized currancy and exchange rate in order to buy and sell goods and services, and REPAY the US led coalition. How about a Conclave by locking the Iraq Parliment in Chambers until they have it all put together and we see the white smoke announcing - We Have a Country! There is a Security Force in place to make it happen. Remember that as a last resort momma bird pushes the baby out of the nest. Time to push Iraq. Iraq needs to become independent, and the USA needs our money repaid. We have an economic disaster to fund.

    Let's get on it fellow Investor! Let's get this RV in the immediate.

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    I wonder what would happen if the IMF said no more loans until you follow our advice and increase the value of your currency?

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    Quote Originally Posted by GregB View Post
    Very interesting. Maybe Iraq is planning on the major conversion from Iraq Dinar - RV time?

    Anyone else notice it is time for Iraq to start behaving like the soverign country it touts to be, and at the same time start paying for their security? That includes 5-years of back payments to the US led coalition - in the billions.

    Everyone on this site should be after our elected leaders daily - phone, email, fax, carrier pidgeon - to cut US funding, and get Iraq running as a country and paying their own way. Especially Obama fans. Time to leave Iraq to Iraq. The resources are there, and Iraqi leadership claim to have all the answers on how to live - just like every other country in the Middle East.

    So, now is the time for Iraq to take action and make it happen. No more US Dollar. Time for Iraq to have an internationaly recognized currancy and exchange rate in order to buy and sell goods and services, and REPAY the US led coalition. How about a Conclave by locking the Iraq Parliment in Chambers until they have it all put together and we see the white smoke announcing - We Have a Country! There is a Security Force in place to make it happen. Remember that as a last resort momma bird pushes the baby out of the nest. Time to push Iraq. Iraq needs to become independent, and the USA needs our money repaid. We have an economic disaster to fund.

    Let's get on it fellow Investor! Let's get this RV in the immediate.
    Never happen as long as ol nasty pelosi keeps going over there and breast feeding the poor stupid bas^%%ds....(trying to make her look like fool she really is!!)
    "Go big or go home"!!!

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    Deputy calls for fear of lack of borrowing from the International Monetary Fund

    Reduced the economic decision of the Commission in the parliament, deputy Yonadam Kanna we fear the importance of the existence of a negative impact on borrowing from the International Monetary Fund.

    We noted that the amounts borrowed by the intention of Iraq relating to specific projects "and not all investment projects," he said, at the same time, that Iraq would reject the conditions that affect the national sovereignty and we attributed that Iraq sought to borrow from the International Monetary Fund to the need to complete the projects described in Balstratejip energy. adding that Iraq did not have the liquidity of the funds necessary for the implementation of those projects, in addition to States, which promised the reconstruction of Iraq did not implement their promises, he said.

    http://209.85.227.132/translate_c?hl...AOjFoV5FgxjX4Q

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    Well I guess the Iraqi Gov needs more money to steal. I guess they have depleated their stash.
    Hey did you see that? That squirrel just gave me the finger!!!!

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    Quote Originally Posted by Joel57 View Post
    Thanks copper.

    What I would like to know is, where are the budget surpluses from previous years when the full budget was never implemented?

    Can anyone tell me?
    Ask Sharistani - he knows - this is ONE of the questions Parliament will ask him I'm sure !!
    "Let Me Issue and Control A Nation's Currency -- And I Care Not Who Makes Its Laws" -- N. Rothschild
    - http://www.analysis-news.com/allfold...standing-V.htm - Read both links
    - http://www.analysis-news.com/allfold...tanding-VI.htm

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    Quote Originally Posted by Longbond View Post
    I wonder what would happen if the IMF said no more loans until you follow our advice and increase the value of your currency?
    ........and PASS the HCL !!!!
    "Let Me Issue and Control A Nation's Currency -- And I Care Not Who Makes Its Laws" -- N. Rothschild
    - http://www.analysis-news.com/allfold...standing-V.htm - Read both links
    - http://www.analysis-news.com/allfold...tanding-VI.htm

  10. #10
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    Quote Originally Posted by lordrazor1 View Post
    Well I guess the Iraqi Gov needs more money to steal. I guess they have depleated their stash.
    Amen. Any "loans" to Iraq at this time would be insanity because of the corruption.

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