[tlm724] Good evening everyone. Its been awhile since we have done a status check on Iraq so I thought maybe we can do one now
I am going to look at several points of interest, namely
1. The citizens
2. The Prime Minister
3. The GOI
4. The International Community
5. My Summary:
I appreciate your patience until I am done
Read More Link On Right
1. The Citizens: While doing news searches today I found an article that states the reason's behind the recent protests and I would like to show you a few paragraphs so you have a better understanding of the mind set of the average Iraqi citizen.
It's titled : New Iraqi Protest Movement Targets Corrruption
This campaign called to cancel the huge pensions obtained by the parliament members, as well as the large privileges enjoyed by officials inconsistent with the living standard of a country where large segments of the population suffer from poverty, unemployment and the absence of public services
Supporters of the campaign believe, however, that addressing corruption must start by dealing with what they deem “masked corruption,” exemplified by legislation that grant senior officials significant privileges.
According to them, the parliament should reform itself and act as a responsible institution in order to be able to reform the rest of the institutions and fight corruption in the executive branch. After all, it is the only institution capable of issuing legislation that limits those privileges.
Following the demonstrations, the government was forced to announce a bill whereby the pensions of parliament members and senior officials would be reduced. It refused,
however, to grant a license to the demonstrations, and the security apparatus violently suppressed the demonstrators. The contradictory position of the government reveals a hidden fear of the evolution of protests to a continuous popular movement that could spin out of control. LINK
[tlm724] This just shows us that the people have had it ! They are all too aware that the corrupt people are also the one's who make and pass the laws that allow their continued corruption.
As parothead said "it's about time" and I couldn't agree more ! This is sending a very loud message to the GOI. This one sentence says it all "The contradictory position of the government reveals a hidden fear of the evolution of protests to a continuous popular movement that could spin out of control."
The GOI should have a very serious fear, just look at the surrounding countries Iraq, your people are pissed ! I will say that this protest and the fear of it spinning out of control bodes well for us.
I don't believe the corruption will continue at the level we have been witnessing and I will show why in a few.
2. The Prime Minister: lets look at what he has been up to. On Sept 1 he said this
" BAGHDAD / NINA / Prime Minister Nuri al-Maliki said "the demonstration, which came out yesterday, expressed its point of view that we adopt it, and the demonstration is a legitimate right, whether we agreed with its point of view or not, and every citizen has the right to express his opinion in accordance with legal regulations."
He said in a press statement: "I confirm my commitment and the government's commitment to provide climates of democracy adopted by the Constitution" adding that "I have taken the demands of the protesters and we will put them in the Cabinet's meeting on next Tuesday to put a bill to the House of Representatives, asking the House to interact with the demands of the masses." LINK
[tlm724] I have taken the demands of the protesters and we will put them in the Cabinet's meeting on next Tuesday to put a bill to the House of Representatives, and he did .
And of course he introduced the Economic Reform Law "Cabinet approves draft law on the federal economic reform.
Baghdad/ NINA /-- The Council of Ministers approved in its 35th meeting headed Prime Minister Nuri al-Maliki today the draft Law of the Federal Economic Reform.
According to a statement today, the Council of Ministers also approved the draft law to amend the regulation and legislation Law , noting that the two draft law has been referred to the Parliament./End LINK
[tlm724] That law now sits in Parliament so we watch for that. Maliki appears to be doing the right thing as far trying to keep this country headed in the right direction. I am not saying he is perfect I am just saying actions speak louder than words.
3. The GOI: Now I know this is a pg-13 site so I will contain my true thoughts about them lol . Lets talk about an article parothead found today, let me show you.
September 14, 2013
Najafi calls for the central bank to the need for coherence between monetary and fiscal policy
The head of the House of Representatives Osama Najafi, the Central Bank of Iraq, on Wednesday, to the need for coherence and coordination between monetary and fiscal policy. “
The invitation Najafi during his visit to the Central Bank, which praised the role of the bank and its quest to maintain the exchange rate of the dollar against the dinar, as well as the efforts of workers “exceptional in exposing corrupt files and bring the number of employees in the bank and Almadra Commissioners for some private banks to the judiciary.”
He also stressed Nujaifi “Speed resolve issues related to money laundering, corruption and the protection of Iraqi funds, especially after his release from Chapter VII.”
[tlm724] So Najafi had a little pow wow with Turki, interesting ! Najafi wants coherence and coordination between monetary and fiscal policy. So let me explain you what monetary and fiscal policy is :
monetary policy is the process by which the monetary authority of a country (The CBI) controls the supply of the money , often targeting a rate of interest for the purpose of promoting economic growth and stability.The official goals usually include relatively stable prices and low unemployment.
fiscal policy is the use of government revenue collection (taxation) and expenditure (spending) to influence the economy. The two main instruments of fiscal policy are changes in the level and composition of taxation and government spending in various sectors.
[tlm724] So we see Monetary policy differs from fiscal policy, which refers to taxation , government spending and associated borrowing.
Najafi is asking Turki for coherence and coordination, bring the two policies together and make them work in tandem.
He also wants Turki to hurry and resolve all issues related to money laundering, corruption and the protection of Iraqi funds. So this is the speaker of the house saying hey get these things done and do them quickly ! Turki obviously has the full support of the GOI !
This is where the corruption mentioned above comes in. It must corrected NOW.
4. The International Community: We haven't talked too much about them since the release of Chapter 7 but I think it's safe to say they still have there hands deep in the pot. Let me show you what Turki had to say August 1st 2013
" Abdel Basset Turki said in an interview with "today" that large irregularities identified by the Office of financial supervision for years in the work of the Central Bank of Iraq as the Cabinet is responsible to follow the work of the World Bank and the Government of Iraq decided to end that costs me to notice undefined management the World Bank agency to reduce and eliminate these irregularities gradually to ensure the safety of the backbone in the Iraqi economy.
[tlm724] See that, the CBI is responsible to follow the work of the World Bank.
Responsible ! They are accountable to follow the World Bank's Plan !
Right from the horses mouth as shredders would say lol
Turki also said this
"Turkish revealed that reserves of hard currency in Iraq now exceeds $ 80 billion, including 30 tons of gold and Bank's disposal is deposited in banks, including the International Monetary Fund and the bank guarantees at the global level, we monitor the level of dealings and while we feel that one dropped their dealings we transfer the deposit to the Bank safer so that we are assured that Iraq is capable of economic stability and that is what we seek."
[tlm724] They put a bunch of dough in the International Monetary Fund. Just because we don't see statements or articles every week from these international organizations doesn't mean that they are not present in the economic forefront. I truly believe and we have seen Turki state that the CBI is following the plan.
And finally my summary lol
We know the people are wise to the antics of the GOI, they are screaming to stop the corruption now or Iraq really will have a civil war on their hands !
I don't think the international community will let it get that far. Consider this, the IMF, UN and World Bank have working with Iraq for well over 10 years now do you honestly think they will let this continue ? I do not ! IMO there is a very serious push to get this done.
If Najafi is pushing for Turki to get the things done mentioned above then the Banking Law and Anti-money Laundering Law Shabbi submitted prior to being ousted MUST be done and ready to go !
We see the Finance Committee on board to delete the 3 zeros' and you can't do that without the new currency. We have the National Meeting coming this week ! Can you believe it ??
This is monumental, it's simply incredible and I know that Bondlady has been waiting years for this !
Is this the moment in history we have all been waiting for ?? I think it is ! I believe that if Iraq wants to be all they aspire to be they need to make the monetary and currency changes now !
And imo we see them making the final preparations for accession into the WTO and we all know that the currency must be international recognized prior to that !
The world is watching and it's in Iraq's best interest not to make them wait ! Time is running out . The time to act is now and I think we are there ! Thank you.