[20:16:03] AMG: what’s new(s)??
[20:16:07] AMG sent an audio message: Drumroll
[20:16:15] TRC: lots of meetings
[20:16:26] TRC: banking, tariffs etc
[20:16:36] AMG: but no rv
[20:16:41] AMG sent an audio message: Laugh
[20:18:33] TRC: tariffs are fixed at all border crossings
[20:18:48] TRC: lots of meetings on tariffs
[20:19:22] TRC: IMF expected increase in inflation due to import tax
[20:19:39] AMG: yeah a little
[20:19:58] TRC: but increase in revenue by government up to 400%
[20:20:37] TRC: price of oil is below the budget rate of 56 dollars
[20:21:10] AMG: also saw post about Mandali border crossing with Iran
[20:21:32] TRC: the sale of bonds on global market in two weeks or abouts is expected to bring in a few billion dollars to treasury
[20:21:57] AMG: some say it may go lower
[20:22:58] AMG: equality
[20:23:28] TRC: goes by value up to 10,000 dollars
[20:23:59] AMG: oh
[20:24:39] TRC: up to (10) thousand, on (8) thousands deduct tax of 15 percent, 5 thousand to 5 percent or less
[20:25:21] TRC: also on what is being imported
[20:25:33] TRC: somethings are very high
[20:25:51] AMG: oh yeah tobacco etc
[20:25:51] TRC: but the fixed rate is above on general imports
[20:26:32] TRC: doing this, they have accomplished another item in criteria in joining WTO
[20:26:39] TRC sent an audio message: Drumroll
[20:26:58] TRC: took three years to accomplish
[20:26:59] AMG sent an audio message: Yahoo!
[20:27:17] TRC: started trying to impose tariffs in 2012
[20:27:53] TRC: its done finally
[20:28:19] AMG: good stuff
[20:30:14] AMG: April 15th is a big day for us
[20:30:20] TRC: they have began to restrict to the iraqi currency , in force at CBI, from leaving the country
[20:30:44] TRC: too much is leaving the country
[20:30:46] AMG: oh my
[20:31:01] AMG: gotta nip that in the bud
[20:31:02] TRC: they say is being smuggled out
[20:31:18] TRC: heavy fines will be implemented
[20:31:30] TRC: maybe even jail time
[20:31:43] AMG: good for them
[20:32:00] TRC: seems there is a thirst for IQD outside Iraq
[20:32:04] TRC: why?
[20:32:24] AMG: hmm, speculation
[20:33:11] TRC: remember a year or two ago, numbers estimated at 7 trillion IQD outside Iraq
[20:33:28] TRC: probably 8 trillion now or more?
[20:33:52] AMG: last minute investors??
[20:36:03] TRC: Ibrahim Salman Mayali governor of Muthanna to a reporter for the Iraqi News / Nina / National Agency that “the oil companies operating exploratory patches displaying in Samawah, discovered large quantities of natural gas in various areas Samawah,” pointing out that “it gives reason for hope and optimism for the future of economic prosperity.”
[20:36:42] TRC: Iraq most likely has alot more gas than any numbers have shown
[20:37:01] AMG: yup
[20:37:46] TRC: Iraq is far behind in getting this stuff, just began
[20:38:46] TRC: in future it could bring in more revenues than oil
[20:39:32] TRC: especially with that pipeline being built from Armenia, Iran to germany
[20:39:51] TRC: will link up in northern Iraq
[20:40:05] AMG: long pipeline!!
[20:40:34] TRC: yes, thru Turkey
[20:41:12] TRC: will give Europe an alternative to Russia
[20:41:34] TRC: most importantly Germany
[20:41:35] AMG: ^.^
[21:03:08] TRC: Finance Minister met with Citibank and Deutschbank reps Thursday
[21:03:21] TRC: about global bonds
[21:03:41] TRC: to be released in two weeks
[21:04:02] AMG sent an audio message: Oh Boy!
[21:04:11] TRC: original amount to sold is 5 billion
[21:05:33] AMG: what term length are they 5, 10 years??
[21:07:42] TRC: yes 5/10 years
[21:07:54] AMG: oh, ok
[21:08:38] TRC: still awaiting the CBI bonds to support monetary policy talked about last year
[21:09:02] TRC: nothing official on that
[21:09:29] TRC: will be IQD based
[21:34:54] TRC: The Association commends the central bank actions but ensure that clear implementation mechanisms to be applied properly, ensure smooth implementation and achieve high economic viability of the country.
Representative of the general body of taxes stressed the importance of applying this system and address all gaps, indicating that the country is moving in the regulatory process
[21:35:51] TRC: we are proceeding with the Central Bank and the Association of private banks and those with ties to the success of this approach.
The Director of the public corporation Major General Hakim Jassim said the executive circle and application instructions is the first step on the regulation, pointing out that the customs fees fixed in all the ports, we are going to be consolidated with the Kurdistan
[21:36:35] TRC: referring to the approaching global company to introduce a new electronic system.
[21:39:07] TRC: The Central Bank to prepare strict controls to protect the local currency and the Iraqi economy from collapse and activation mechanisms that undermine money laundering and damage the Iraqi economy operations.
He pointed out that condone any act that affects the Iraqi economy have devastating results and in the interest of expansion in restrictions.
[21:41:37] TRC: Noted that the inflation rate outside areas that are not controlled by terrorists less than 2% by the end of 2014, but the rate may rise after the activation of the tariff law, which imposes a high import duties.
[21:48:19] design: so whats this all mean?
[21:49:16] design sent an audio message: Drumroll
[21:49:32] TRC: what part
[21:49:34] TRC: lol
[21:50:56] TRC: Iraq finally got customs officials collecting duties in efficient manner at borders, restrictions are increasing on iraqi dinars leaving the country
[21:51:11] design: tariff’s, fee’s etc
[21:51:21] TRC: IMF expects inflation to increase due to this,
[21:51:36] TRC: a rv would fix that
[21:51:51] design: ok….i see
[21:52:01] design: i guess it would…..
[21:52:19] TRC: CBI is trying to keep IQD from leaving Iraq
[21:52:50] TRC: was told that cannot get any more out of country
[21:53:04] design: ok
[21:54:09] TRC: “The Finance Minister Hoshyar Zebari received on March 19, 2015, Dennis Flannery representative [Citibank] in Iraq in the presence of a representative [Deutsche Bank] Hussein Qaraghuli, through meeting, they reviewed a number of measures to address the current liquidity crisis in the country, the advancement of the Iraqi regime in light of the economic developments
[21:54:24] TRC sent an audio message: Drumroll
[21:54:44] design sent an audio message: Drumroll
[21:56:36] TRC: lots happening
[21:56:44] TRC: we can only watch
[21:57:01] design: you got that right
[21:57:33] design: a lot happening to watch…
[22:00:36] TRC: just talked to a contact tried to buy reserve of IQD
[22:01:08] TRC: but cannot get it
[22:01:29] TRC: CBI has set strict controls on exit of IQD currency
[22:03:18] design: really!!
[22:03:44] TRC: thats what was said
[22:03:56] design: wow
[22:04:05] TRC: usually comes out to Jordan then to the dealers
[22:04:16] design: oh… ok
[22:05:11] design: what u have is what u get!
[22:08:11] design: maybe something bout to happen…….
[22:10:45] design: never know….lol
[22:16:20] TRC: might see another price increase
[22:25:39] design: hmmm….. ok
[22:31:11] design: we’ll see