Millionday: WE HAVE SOME HUGE HUGE NEWS TONIGHT

by **RoyBoy** Wed Jul 22, 2015 9:34 pm

Millionday: HELLO EVERYONE WE HAVE SOME HUGE HUGE NEWS TONIGHT
Millionday: KNOW ONE THING THE NEWS IS FORMAL AND HUGE
Millionday: HUGE
Millionday: HUGE
Millionday: IT BEATS ALL NEWS

Millionday: THERE HAVE BEEN SOME GREAT ANNOUNCEMENTS FROM CBI BUT NOTHING LIKE ONE FROM TODAY
Millionday: FIRST WE HAD THIS ONE

Millionday: The central bank acknowledged on 21/07/2015 hold a public auction Auction ( C141 ) for the sale of the bank for their remittances ( 91 ) days
22.07.2015

Millionday: NOTE -- THE AUCTION WAS REPORTED AS HUGE
Millionday: BUT............................. THEN WE HAD THIS ONE -- WHOOOPOW
Millionday: IT WILL NOT ALLOW COPY SO BEAR WITH ME --

Millionday: ANNOUNCEMENT OF THE TENDER EXTENSION NO.5/2015 THAT CONCERNED TO SUPPLY XBRL SYSTEM

Millionday: NOTE -- TITLE

Millionday: CENTRAL BANK OF IRAQ DECLARES TO EXTEND THE PERIOD OF CLOSING DATE FOR THE TENDER ABOVE FOR 30 - DAYS FROM 7/22/2015 AND THE TENDER SHOULD BE SUBMITTED AT THE MAXIMUM DATE OF

Millionday: 23/8/2015 AT THE END OF THE WORK DAY.

Millionday: ALL COMPANIES AND PARTICIPATING COMPANIES THAT WOULD LIKE TO PARTICIPATE IN THE TENDER SHOULD NOTICE THAT. WITH APPRECIATION

jarhead: what does all that mean mam

Millionday: TENDER IS DEFINED AS >>1.Article or token (such as coins or banknotes) that serve as means of payment or settling a debt. See also legal tender.
2.Unconditional offer of money (to satisfy a debt) or performance (to satisfy an obligation). A tender may save the tendering party from penalty for nonpayment or nonperformance, and may not be refused without just cause by the party to whom it is made.

Millionday: 3.Sealed bid or offer document submitted in response to a request for tenders and containing detailed information on requirements and terms associated with a potential contract.

jarhead: so they're broke?

Millionday: SO WHAT I WOULD SAY IS THAT RELEASE WAS PLANNED OR ISSUANCE THE 22ND AND IS EXTENDED 30 DAYS

Millionday: NO -- THEY ARE NOT ISSUING TENDER FOR 30 MORE DAYS

thomas1: it this talk about the RV 30 days

Millionday: THIS IS AN ANNOUNCEMENT FROM CBI

thomas1: so the RV is now maybe in 30 day before they can

Millionday: THIS IS FOR XBRL SYSTEM
Millionday: GOOD QUESTION THOMAS

quicktolegit96: CAN U PLEASE EXPLAIN WHAT THE XBRL IS AND PUT THIS INTO LAYMAN TERMS, EVERYBODY IS CONFUSED? TY IN ADVANCE

Millionday: >>>>Over 30 regulators across the globe, including the US Securities & Exchange Commission (SEC), have mandated XBRL as the required electronic reporting format.

What are the benefits?

Value propositions — better, faster and cheaper
For several years now, momentum has been building towards a single electronic financial reporting standard which would allow more efficient retrieval and analysis of financial information. Some of the key objectives of this movement towards digital financial reporting are to provide more consistent financial information, which is delivered better, faster and cheaper. In addition, a digital format supports more informed business and investing decisions, including greater comparability within and across enterprises.

Millionday: INTERNATIONALLY COMPLIANT NATIONAL FINANCIAL REPORTING SYSTEM

Millionday: I AM GOING TO BRING MORE ON THIS

Millionday: Key XBRL regulatory report benefits:Reduce reporting burden
Drive down costs
Improve data timelines
Improve data accuracy
Increase transparency
Increase accurate
Improve flexibility

Millionday: NOTE -- ALL THINGS THAT IRAQ HAS SET LAWS AND REGULATIONS FOR

Millionday: What is XBRL and what does it mean for me?
Extensible business reporting language (XBRL) is the financial and operational business reporting offshoot of Extensible Markup Language (XML), which is a freely-licensable, open technology standard used to electronically exchange business information. XML is a universally preferred data description language used to describe the storage, manipulation and exchange data via the Internet.

Millionday: NOTE -- FINANCIAL FACTS FOR THE NATION ACCESSIBLE BY ALL

Millionday: The idea behind XBRL is simple. Instead of treating financial information as a static text — as in a standard internet page or a printed document, XBRL provides an identifying tag for each individual item of data, whether numeric or textual. This tag is computer readable and allows the information to be used interactively

Millionday: SO THE INFORMATION REMAINS UP TO DATE

1glen: So will this affect or delay Iraq going to a market economy?

Millionday: THIS WILL ASSIST IRAQ
Millionday: NO INFORMATION ON DELAY BUT STATEMENT PUTS THE 30 DAYS AS THE OUTSIDE DATE

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Millionday: HERE IS SOMETHING ELSE THAT WE LOOKED AT

Millionday: Country: Iraq
Title: 2015 Article IV Consultation and Request for Disbursement Under the Rapid Financing Instrument

Millionday: NOTE -- THIS IS TO TAKE PLACE MONDAY
Millionday: SO THE QUESTION IS WHAT IS IT?

Millionday: International Monetary Fund International Monetary Fund (IMF): Advising borrowing governments The IMF consults annually with each member government. Through these contacts, known as “Article IV Consultations,” the IMF attempts to assess each country’s economic health and to forestall future financial problems. The fund also operates the IMF Institute, a department that provides training in macroeconomic analysis and policy formulation for officials of member countries.

Millionday: SO THIS IS THE CONSULT AND STATEMENTS MADE BY THE IMF ABOUT THE ECONOMIC CONDITION -- WHAT IS COMING UP -- AND ACCESS TO THE TRAINING TO FORMULATE POLICY AND MOVE FORWARD IN MACROECONOMICS

subgirl: I am still a bit confused about the XBRL? Does it have to do with the RV? Thanks!!!

Millionday: IT IS THE INTERNATIONAL REPORTING STANDARDS FOR NATIONS TO SHARE STATS/INFO ABOUT THE COUNTRY IN QUESTION (IRAQ) FINANCES WITH TRANSPARENCY

Horsegal: I don't understand the 30 days date. Does that have something to do with the RV? I don't understand the significance of the 'tender.'

Millionday: ALL OF IRAQ` FINANCIAL INFORMATION THAT WAS TO BE VISIBLE AND OBVIOUSLY AS ATTRACTIVE AS POSSIBLE FOR INVESTMENT DECISIONS BY INTERNATIONAL DECISION MAKERS WAS TO BE DONE THE 22ND OF THIS MONTH -- THEY NEED MORE TIME AND THE MOST THEY WILL TAKE IS 30 DAYS THE END OF THE WORK DAY

.MOD.Holly1: If they are now just getting a new system in and training ways to go yet you think?
.MOD.Holly1: and thank you Millionday .. just really confused on that first article yet

Millionday: NO -- THE INFORMATION THEY INTEND TO HAVE IN ITS ENTIRETY IS NOT DONE --- IT COULD MEAN THAT THE RATES GLOBALLY ARE NOT SET IMO -- LOGICALLY MAKES SENSE TO ME

raindropsnroses: If it was all to be done by the 22nd of July and they need more time How do we know they won't need more time after 8/23?

Millionday: THIS IS AN INTERNATIONAL COMPLIANCE SYSTEM

raindropsnroses: XBRL only gives until 8/23?

.MOD.Holly1: TY Millionday for the patience you have with us truly TY.

Millionday: JUST REPORTING -- NO GUARANTEES
Millionday: ACCORDING TO XBRL AND IRAQ -- THAT IS THE OUTSIDE DATE THEY HAVE

angus: So it could be before that date?

Millionday: THE SYSTEM IS NOT ONE THAT HAS BEEN AROUND FOR CENTURIES -- IT IS THE USE OF THE INTERNET FOR NATIONAL REPORTING
Millionday: YES IT COULD BE ACCORDING TO WHAT THEY STATED IT COULD BE BEFORE

GrannieAnnie: So are they giving us a clue as to when they expect to raise their rate here? 8/23rd

Millionday: I DON'T KNOW HUN -- WOULD BE NICE

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Millionday: IMPORTANT LAWS

Millionday: MP for the coalition of state law honest frankincense, Sunday, the existence of the meetings of the heads of political blocs before starting the resumption of parliamentary sessions of the agreement and resolve their differences on important laws in line with the requirements of all the components of Iraq and not on the account without the other component. He said chewing gum for "Eye Iraq News", that "there are meetings of the heads of political blocs on important legislation of laws and the resolution of succession," stressing "the existence of the will of the alliance legislation and the need to overcome the current stage and get to the real understandings on them."

Millionday: NOTE -- MEETINGS TAKING PLACE SO THE VOTE ON IMPORTANT LAWS GOES SMOOTHLY ON SUNDAY

Millionday: He added that "we are keen to enact laws for the benefit of the Iraqi people and will not make those laws through legislation loophole may lead to future problems," stressing that "the masses such that the moving direction of the National Alliance." He pointed out, "There is no difficulty there in the legislation of laws broken," explaining that "some political blocs see in some of the paragraphs of laws for the benefit of feed component, or vice versa and that's why call it the" mined "

Millionday: SO THEY ARE HOPEFUL THAT ALL GOES THROUGH WELL -- NICE

jarhead: unless they make the financial laws affective they will not help their people IMHO, tariff,Hal,etc HCL, so far it's all about them

Millionday: THEY CERTAINLY NEED TO MAKE SOME HUGE CHANGES FOR CITIZENS

====================
MadeeandLynndee: Has the IMF loaned Iraq the money they stated they would earlier this month?

Millionday: I HAVE A REPORT TODAY ABOUT THAT COMING NOW

Millionday: The head of the government's economic affairs adviser, on Monday, that the launch of the financial allocations for the ministries will be according to the availability of liquidity, noting that the government will go to borrow and issue foreign bonds to cover the shortfall, while member of the Finance Committee of the Parliamentary stressed the need to solve the problem of the investment budget for its impact on the services provided for citizens, economic expert said that more than four million workers i the private sector have been affected as a result of projects stopped. He said the appearance of Mohammed Saleh, said in an interview to the (long-Presse), said that "Iraq is going through a financial crisis and austerity which affected ministries received allocations in the budget law," adding that "the amount of the budget will be spent for government departments after the availability of financial liquidity, because up of resources different from what is planned. "

Millionday: NOTE -- THEY ARE HAVING ISSUES WITH HAVING ENOUGH CAPITAL WHILE KEEPING THE LIQUIDITY REQUIRED BY BASEL III COMPLIANCE

Millionday: Saleh added, that "the budget allocations for the ministries will be spent according to the availability of funds and revenues," noting that "the government will be forced to postpone some of the things midwife for the delay. "He said the prime minister for economic affairs adviser, that "foreign loans does not exceed one billion dollars only a little," pointing out that there are "legitimate external borrowing negotiated by the government through the issuance of bonds (Euro Bank) European launches in the world."

Millionday: NOTE -- THE GOV OFFICIALS WILL HAVE TO WAIT DURING THIS TIME

Millionday: THIS IS VERY INTERESTING >>>>

Millionday: For his part, he said a member of the Parliamentary Finance Committee, Jabbar Abdul Khaliq, said in an interview to the (long-Presse), "The government launched the operating budget," returned "The problem lies in the investment budget. "Said Abdul Khaliq, that "the government put some controls for investment projects and completion rates, in a new direction for the disbursement of budget funds", returned it necessary to "solve the problem of the investment budget for its impact on the services provided to citizens."

Millionday: NOTE -- THE OPERATIONAL SIDE OF THE BUDGET HAS BEEN LAUNCHED
Millionday: THE INVESTMENT SIDE --- NOT YET

Millionday: In turn, the economic expert on behalf of Jamil, in an interview to the (long-Presse), the "no-budget full impact of the government in the 4.3 million Iraqi citizens in the private sector." He explained beautiful, that "the investment part of the budget represents the backbone of the infrastructure through the implementation of projects that provide jobs," noting that "what launched by the Government of the general budget is just to stroll the affairs of state through the provision of staff who work in the government sector salaries operational budget ".

Millionday: NOTE -- THE FUNDS FOR INVESTMENT/PROJECTS ETC ARE NOT READY YET -- BUT OPERATIONAL SIDE OPEN RIGHT NOW

Millionday: He said economic expert, that there is "more than 4.3 million Iraqi citizens living on the private sector have been affected as a result of the launch of non-investment budget", Msttrda that "the budget deficit up to 25 trillion dinars, which requires the government to be covered by external borrowing. "And it led financial crisis in Iraq as a result of the fall in world oil prices, to give local governments for the majority of service projects, and the shrinking number of workers in the services sector and hygiene. The Iraqi Council of Representatives approved, (the 29th of January 2015), the finanHe said economic expert, that there is "more than 4.3 million Iraqi citizens living on the private sector have been affected as a result of the launch of non-investment budget", Msttrda that "the budget deficit up to 25 trillion dinars, which requires the government to be covered by external borrowing."
And it led financial crisis in Iraq as a result of the fall in world oil prices, to give

Millionday: NOTE -- OBVIOUSLY COULD TURN IN TO A HUGE PROBLEM FOR CITIZENS AND THOSE THAT WILL BE AT THE BUTT OF THEIR ANGER --- URGENT TO RESOLVE IMO

Millionday: He announced the International Monetary Fund, in (the fifth of June 2015) is ready to give Iraq an exceptional financial assistance worth 833 million dollars, to help him to cope with the economic implications of war with al (Daash) and the deterioration of oil prices in the world market, noting that the Iraqi economy shrank by 2.1 percent in 2014, the past "because of the violence is the basis", and that "not record" the biggest growth of 0.5 percent this year, 2015.

Millionday: SO IT APPEARS THAT THE IMF HAS NOT GIVEN THE FUNDS BUT IMO I WOULD SAY THIS IS PART OF THE MEETING MONDAY

MadeeandLynndee: If the operational side is open, why are they cutting salaries? thanks

Millionday: CUTTING BACK EXPENSES ACCORDING TO WHAT I HAVE READ --

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Millionday: NOTE -- THE ENTIRE REPORT IS IN ROUND TABLE BUT --- IRAQ IS RELEASING KURDISTAN`S ENTIRE YEAR BUDGET -- WHOOPOW

Millionday: READ EVERY WORD

Millionday: NOTE -- THEY ARE OPTIMISTIC IN THE MOVES OF THE GOVERNMENT STEPS FOR ECONOMIC ADVANCEMENT TOWARD ITS REALITY

Millionday: "But there is some kind of default that there is no clear mechanisms to take advantage of the committees of the House of Representatives by the government's sovereign and service ministries."
And that the Committee encourages the Government to draw closer over competent in the House of Representatives committees as working to support projects and programs successful and orientations, noting that the parliament fumbles the effectiveness of the overall activities of government and its institutions, calling present in various levels of decision to take advantage of the work of parliamentary committees and the expansion of the meetings and Communications Service out.

Millionday: NOTE -- THE LACK OF COMMITMENT TO THE COMMITTEES HAS BEEN A DRAW BACK

Millionday: He hinted Bolani that there is a large and important opportunities in front of the government at the level of the economy and foreign relations, security files, and must be invested well it is possible to achieve major breakthroughs in these areas in this difficult situation, stressing the need to respect the time timings and obligations of participation in the government as representing all political forces and components must come together to support the prime minister is interested and cooperates official and serious and clear does not accept the confusion and diligence.

Millionday: NOTE -- THE OPPORTUNITIES AHEAD NEED TO BE RESPECTED AND THE TIMELINES -- THE PLAN AND ALL COMPONENTS MUST ALL FALL INTO TO PLACE TO SUPPORT THE PM AND THE OBLIGATIONS

Millionday: >>>>>>>>The government has put in its resolution of the Iraqi economy headed toward a market economy and abandoning the progressive state for economic activities and encourage local product and activating the laws relating to national protection and the development of foreign trade and transit trade and free zones and raise the level of financial audit in Iraq Companies and classification according to international standards and to support investments that encourage the operation of local manpower and accelerate the construction of the port of Faw,

Millionday: NOTE -- THE PLAN TO GO TO A MARKET ECONOMY NEEDS THE LAWS ACTIVATED AND THE MOVE TO IT MOVED FORWARD

Millionday: development and a list of priority strategic projects and raise the capacity of local airports and to encourage and support private airlines and submit a draft commercial agencies law and regulation agencies and agents measures to ensure the protection of the Iraqi market from fraud and manipulation and control of commercial agencies of the neighboring countries and activating consumer complaints courts and facilitate the means to achieve their rights and make the insurance product and professional responsibility in relation to the goods and services produced compulsory in order to protect consumer rights and tighten the penal system of fines on counterfeit and fake goods and to create a system to monitor goods and ensure quality across the border crossings and re consideration of financial, tax and monetary policies.

Millionday: SO AS WE SEE -- EVERYTHING THEY HAVE WORKED ON NEEDS TO BE ACTIVATED --- THIS IS A HUGE CROSS ROADS FOR IRAQ AND THEIR POSITION GLOBALLY --

.MODSwan2013MDCOPY: COMMENT: ALL AT ONCE!!!!

Millionday: EXACTLY

Boomshakalaka: so the launch of the investment side means I'm going to the bank?

Millionday: HUGE NEWS RIGHT NOW DON'T MISS ANY AS WE WATCH IRAQ IN THEIR TRANSITION
Millionday: SMILE
Millionday: GOOD TO SEE YA BOOM
Millionday: BOOM START ALL PRIVATE SECTOR -- ALL PROJECTS--INVESTMENTS -- INTERNATIONAL CONTRACTS -- WHOOPOW

END OF REPORT
:winky winky: