Quote Originally Posted by goldraker View Post
Shabibi and rates

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The Minister of Finance, Mr. speech at the beginning of the meeting in which he thanked the International Monetary Fund for hosting the Iraqi delegation explaining the latest economic developments in Iraq, explaining the reasons for the failure to achieve execution rates

.The budget for 2006, which amounted to the highest implementation rates for the ministries of 50% due to the security situation, which greatly impaired the Iraqi and foreign companies from entering into contracts or contracts processing, as well as a lack of flexibility and instructions to execute the contracts that were inherited from the former regime has released funds in the budget. in the month of July 2006 of the same year, which means that the ministries did not take enough time to implement their budgets and the lack of expertise and lack of the middle echelon cadres are capable of implementing such projects led to the delay in implementation of the Economic Committee under the chairmanship of Deputy Prime Minister Barham Ahmed Salih take measures to accelerate implementation of the budget and encourage units expenditure on implementation why funds launched soon to ratify the 2007 budget at the end of the second month and that the budget of 2007 in the text of Article 14 that the ministries will implement 25% of their budgets until July 2007 allocations will be transferred to other ministries capable of implementation The Ministry of Finance recently held for nine ministries attended the service and 80% of the cadre and the Ministry of Finance to discuss those ministries in the implementation of projects has surprised us by the Minister of Communications that he had carried out 90% of its budget for 2007 At the end of his speech, the Minister of Finance that the current year will be much better than previous year in ratios implementation of the budget and explained the Minister of Finance on the subject of turning the Iraqi debt that there is good signals from the Kingdom of Saudi Arabia to discuss the Iraqi debt extinguishment stressing that the ratio of debt reduction to 8% instead of 100% is the proportion of non-acceptable to the Iraqis because their debts and their words were for amounts in support of war Saddam Iran with a point DISCORD and an important point for us and the Iraqi Allmwatuna and Mr. Sinan Shabibi governor of the Central Bank of Iraq one of the members of the Iraqi delegation that there are good developments such as the inflation rate, which is currently 23%, stressing that there is disparity in the level of interaction with debts of Iraq and asked the Iraqi Central Bank governor The International Monetary Fund says that the exemption of Iraq debt issue of interest to the Fund and encourage and help Iraq and the IMF to complete their programs in Iraq and Mr. Khan Chief of the International Monetary Fund the Fund optimism of good economic policy in Iraq and here that Iraq's record of achievements, stressing the need to reduce inflation Economic and implementation of the budget and raise the rates, especially the implementation of the investment budget for the oil sector to increase production rates, he said, pointing out that next September will Iraq to the Convention (SBA) from September 2007 to December 2008 in order to enjoy exemptions provided by the Paris Club and comes after the end of this Convention the first agreement and the implementation of each of Iraq state and the IMF suggested that there be a meeting in Amman short end of this month and another meeting in mid-May to discuss Article IV of the Convention and the completion of the current program and promised to the International Monetary Fund announced that the economic developments in Iraq in Sharm El-Sheikh meeting will support the steps where Iraq's economic confident despite of all the challenges facing Iraq and the economic policy is working smoothly with the fund, the World Bank has reported that the meeting was attended by Mr. Sinan Shabibi governor of the Central Bank of Iraq and adviser to Mr. Vice President and Mr. Vice Governor of the Central Bank and advisor of the Office of the Deputy Prime Minister and senior officials from the International Monetary Fundجريدة العدالة العراقية - وزيـــر الماليــــة..السنة الحالية ستكون افضل في نسب تنفيذ الموازنة
I do not understand your "Ouch" Remark title.

23% inflation though high is much lower than previous levels. Plus the IMF is suggesting moving on to article IV discussions; the best news you could hope for. They are talking about completing the current program. That's huge!

I think you misunderstood what you read. This is the best news you could hope to see......they want to discuss ending the program,[remember the three year long program discussed by the IMF, and often stated in SBA and other reports?] which as everyone here knows has a "program rate" attached to it...... This is excellent news.......Article IV [four] again is all about exchange rates. I think we are looking for that kind of talk. Maybe it's just me though.