BLC Administrators Shredd and tlm724 Chat Chapter
[tlm724] Shredd and I are going to do an article breakdown for you
Iraq qualify for lead in developing economies 26/6/13 12:00 am
Freedom from the provisions of Chapter VII in the balance of experts Baghdad-Hussein thghb Al-Tamimi-Mostafa Hashemi The eyes of the Iraqis with impatience to the round table of the UN Security Council so that Iraq out of Chapter VII long Iraq and destroyed infrastructure mindless policies of the former regime that affected the patient will get people with experience of Government entitlements policy full sovereign his negotiators to rebuild itself.
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It accounted for the impending departure of Iraq from Chapter VII of the Charter of the United Nations with interest economists and specialists who were invited to go to the reconstruction of infrastructure and economic resources of the country best,
stressing the importance of paying attention to the many imbalances affecting the national economy, the fact that Iraq had completed its international obligations will lead to the development of the economy after the weary policy adopted by the former regime.
[tlm724] All of Iraq is looking forward to Thursday and their new found freedom from the chains of repression and restrictions. they are well aware of the work ahead of them. as they have met their obligations and are now free to proceed with their economic plan both domestically and internationally.
Lift the guardianship
Said Dr. economic peace smeisim to exit Iraq from Chapter VII gives a message to the world that the guardianship was lifted thus became possible for him to assume higher economic entities than it is now.
Smeisim said in a statement to (morning): the Government will be able to conclude many conventions and big contracts with large global companies and engage in bidding to invest in international markets and global stock markets, after an Iraq under Chapter VII is an obstacle in its path.
[tlm724] This states the obvious, that Iraq can now impliment all their agreements and be able to grow their economy and reserves via international trading again without restrictions.
Smeisim said that the Iraqi public stockholders also funds of this limitation was subject to broker managed on behalf of Iraq as it takes its percentage to mediate for the supply or substantial economic contracts Iraq was unable to sign because of that chapter of the Charter of the United Nations, saying it will now be possible to short these episodes directly in what is considered a major asset.
And called for the need to preserve Iraqi funds from the hash and waste because the country needed to undertake the development process to make up for missed since the imposition of this limitation so far in the interest of the people with high economic returns can achieve a higher level of per capita income.
[tlm724] I take this as now Iraq can have access to all the funds that belong to them throughout the world and they will use them wisely to continue with infrastructure building thus increasing jobs which will benefit the citizens.
The stock market will recover together
The stock market will see the entry of a number of non-Iraqi investors due to free Iraqi funds and support private and shareholding companies because the country would be an excellent environment to attract investment for the giant companies and huge resurrect infrastructure,
stressing that the dinar will rise also to the large number of foreigners are investing in the currency for the reserve force and who would be covered by the $ 80 billion in July as the next Central Bank Governor Abdel Basset Turki said in a press statement.
[tlm724] This "re-birth" of Iraq as bubbies says, will indeed bring international companys in droves and as investment increases so will the value of the dinar and will be covered by the tremendous reserves that Iraq as accrued.
The disappearance of barriers to companys
The financial expert said Saif Al hilfi (morning), the decision opens up wider to work in all economic sectors, especially for international companies which is Chapter VII a significant impediment to their presence in the Iraqi arena and work in the field of implementation of projects,
and large international companies will have high flow freely in the domestic economy at a time find that most of these companies represent opportunities to put in one of the largest theatres in the world, adding that this helps the private sector Your local building close relations with international economic blocs.
The need to rehabilitate all economic sectors in its production and service and this requires the efforts of international companies.
[tlm724] They need the international community with their expertise in most sectors, remember there wasn't much left after the occupation so Iraq is basically starting over.
Largest theater is the world, you bet ! Where else can investors / companys /countries go that has the potential to make big money. The current and future projects in Iraq are worth billions and billions of dollars. Again, all this infrastructure will create jobs ! These international companys will hire the locals.
Free opening credits
The substance out of Chapter VII based on the money that his dealings for a long period of time was lost on world events and developments and modernity in the global monetary and banking sector, and that freedom from the constraints of Chapter VII gives greater freedom in the process of opening credits documents that help activate the smooth movement of funds.
[tlm724] This doesn't need an explanation ! Its all about the money flow !!!
He noted that relations with world financial sector will take departs from what it was and there will be interaction with Iraq which has a promising economy, realizing the Tigers of the world economy, and that in all cases, the change from a map of public and private banks dealt with the outside world and will be an important element of global monetary trading arena that was bound by international resolutions and that Iraq will be considered by the States that met its international obligations by increasing confidence in the Iraqi economy and expanding trade with Iraq will be Improvement in the economic situation and economic development in General.
Pointing out that Iraq will kiss capital and international companies that are looking for investments in the economies of all success.
[tlm724] No longer will Iraq be frowned upon by the worlds banks as we have seen Citi Bank has walked through the door and others I am sure are lined up at the door ! Iraq will begin global trading ! All are welcome to Iraq and with opened arms !
Problems of the economic system
In this regard, said economist Mohammad Saleh appearance that Chapter VII of the Charter of the United Nations in Iraq cable restrictions established for the economic activity of his sustaining livelihoods across the gelatinous processing programme during the siege called program (oil for food) in 1996.
He said to (morning) was born (continuing the mirage of Chapter VII) after 2003 results of economical hybrid, installation of a problematic pattern of economy, economic system, and international relations, Iraq, abused for being a country of high investment risks, despite his comparative economic surpluses, and possible.
He noted that the country has not only avoided opening up Liberal, the commercial and financial, however, did not exceed in scope, the regional center of Iraq, or parts of Asia, to satisfy deficiencies, compensation for products was offset by domestic economy in natural conditions before the embargo.
[tlm724] Saleh is speaking of years and years of repression and how it effected and changed the whole landscape and perception of Iraq before the international community, both economically and socially .
The former Deputy Governor of the Central Bank that advanced technology has been virtually banned from entering the country, and international construction companies failed, promoting infrastructure investment, to enter Iraq, and did not respond to demands of Iraq, despite the temptations of the job, as they look to business activity with suspicion and risks imposed by chapter.
He noted that the oil-for-food memorandum was the only foreign oil companies rush to develop oil fields and investment in licensing rounds, the legal situation in safety technology and arbitration, at a time when the country was deprived of this burst in the areas of equal importance in the economic life and development, in particular, limited electricity, industry, technology, and other relevant associations.
[tlm724] Again speaking of the repercussions and how Iraq's progress became stagnant in all sectors, technology, investment etc...
Chapter VII barriers
The movement has attracted development in Iraq, and incline towards the borders fragile, due to barriers set by Chapter VII, lightness and flexibility are not visible, and Mirage, since 9 April 2003 until the present, making the country a workshop stalled, waiting for the electric power and its Renaissance, at the time the foreign currency liquidity are appropriate, perhaps no less, today, about 100 billion dollars.
And saying: there remains disabled and mind, stands in front of the Iraq, a mirage of Chapter VII continued development creeps behind liberal market, which should not exceed the import terms, as provided by the memorandum of understanding, which, this time, candy-coated imports, entertainment, and communications, are intensive, low value-added production. Pattern of production, not looking forward to production, but behind bars yet resistance by Chapter VII.
It must be stressed that the ability to restore power before others, to see the fact that stops Iraq electrification was caused by limitations of Chapter VII, and his deliberate, subtle deprived the country of energy technology and access to progress and development.
He said President Centre international economic development John: to exit Iraq from Chapter VII is an important step for the completion of Iraq's sovereignty and control over its resources and open up new horizons in its relations with the outside world.
The positive atmosphere at the Iraqi-Kuwaiti relations are signs of hope for the end of the month Iraq from Chapter VII, which is large and sensitive step in the political process as they contribute to the completeness of sovereignty and the control of economic resources of all Iraq.
[Shredd] When we see the word "sovereign" which is what Iraq will become after coming out of Chapter VII brings so much hope and promise for the future of Iraq and on top of that, a new democracy.
A sovereign country is:
- a centralized government
- has a permanent population
- has a permanent government
- has the capacity to enter international relations with other sovereign countries
- is not dependent on nor subject to any other power or country
- has the ability to exercise full treaty-making powers and engage in diplomatic relations with other sovereign countries
He noted that Iraq is now an influential economic force in the world economy, and that the Iraqi Government take steps to activate the economic file, especially that there are international organizations showed that Iraq is making great strides and big economic and developmental direction correct. and increased the country's exit from Chapter VII national entitlement after met all its obligations, imposed by the limitations of Chapter VII, which decimated the Iraqi economy and development stages and stopped for a long time.
The departure of Iraq from Chapter VII would bring him international prestige restored step-lost deceased system policies.
[Shredd] Iraq will now be on par with all other sovereign countries, with all due respect and prestige as a global contributor. We will see Iraq become a lender, a strong exporter and a leader among its Arab brothers.
Iraq no longer threatens peace
He said the Ambassador of United Kingdom in mark nights grant, whose country holds the Security Council in a press statement that the coming period will be discussed by the United Nations convert the remaining sanctions on Iraq from Chapter VII to chapter VI,
we find it is important from many angles that Iraq is no longer a State threatening peace and international security, and that the sanctions imposed on Iraq under Chapter VII have been material substitution nature after Iraq fulfilled most of its international obligations under the resolutions Adopted by the Security Council in particular, 1990 and 1991, and convert These files to chapter VI means inter what it means to the former conflict was in the hands of the Security Council is now in the hands of both Iraq and Kuwait with the follow-up to the Security Council for the remaining files,
add to that all the outstanding issues are governed by the peaceful solutions effects between the two countries and are subject to adjustment in accordance with the principles of Chapter VI.
Kuwaiti delegation headed by Prime Minister Jaber Al-Mubarak Al-Hamad Al-Sabah has visited Iraq last Wednesday and signed several agreements and memorandums of understanding during the talks announced Iraqi and Kuwaiti officials that the two Governments Requested the United Nations to meet their Ki and informed agreement of the two countries and that Iraq has implemented all the obligations imposed on it under Chapter VII as the resolutions of the Security Council and to request the Secretary-General of the United Nations communicated to the Security Council for lifting the terms of Chapter VII of Iraq.
[Shredd] The title of chapter VII of the UN Charter is: ACTION WITH RESPECT TO THREATS TO THE PEACE, BREACHES OF THE PEACE, AND ACTS OF AGGRESSION. This tag/label and perception has hovered over Iraq and with their exit, the primary reason why investment has been slow at best will be removed.
Investing in Iraq will be no different than any other sovereign country (from a risk perspective).
The first to come into the country, like Citi, will set the bar for others. What is exciting about investment is the sooner you get in, the sooner you "buy" in, the better chance for greater gain. Competitors to those first coming into Iraq will quickly follow suit if they want to stand the same or near chance for growth, gains and returns as their competition.
The pace at which this happens will be interesting and exciting. We will soon find out how much of the investing world has been watching and preparing to invest in Iraq and with Chapter VII removed, the pool is open!
Support the political process
The consultant said Tawfiq al-Mana, there is no doubt that lifting Chapter 7 is an important step in improving the sensitive political process that this step will contribute to an effective contribution in complete sovereignty and independence of a country like Iraq possesses the human capacities and material resources ready if lift failure in management, namely human resources and material resources, accompanied by a plan for developing relations with neighbouring countries through the creation of common interests that benefit everyone ,
Because everyone looks to Iraq that has all the potential to be a powerful economic force despite the negative conditions in the Iraqi arena and this has been confirmed by many international organizations, international economic, and started to grope that Iraq began making quick steps toward the development of the economy, although there is a blurry constants for their economy go into a real competition and the market, which is important
[Shredd] Political stability and security often get discussed when talking about what Iraq needs to attain before they can be a viable country. Although violence will continue in their culture, the removal of Chapter VII addresses the security issue. It will also contribute to political stability.
This also mentions competition in the market which I mentioned above. This removal of Chapter VII will be far reaching and will offer a multi-faceted benefit to the country, it's people, the region and the world.
The movement of funds
So it's important that liberalization was late it will give freedom of movement for his money, especially after raising the guardianships and control of the banks imposed on him, especially in the movement of funds in the banks without recourse to limited banks imposed circumstance could refer to the possibility of banks issuing letters of credit, letters of guarantee, the guarantor of monetary guarantees,
cash transfers were a major obstacle in trade were considerable expenses as well costing increase of documentary course procedure and the three sectors in Iraq General and mixed and suffered enough That it was confined to the Trade Bank of Iraq "TPI" as a means to save money from penalties and the processing trade.
[Shredd] To this point, Iraq is almost entirely nonexistent in the financial markets. The bank I work at is a substantial international presence in the market and I can confirm this.....Iraq is nowhere to be found. That will begin to change after Iraq is released from Chapter VII.
The ease of cash movements and trading will enable Iraq and her issuers to exist in the financial markets. This will provide stimulus to the global and local markets.
I personally don't agree with whoever manages the fiscal and monetary policy and banking on Iraq when he put the chapter VII as an excuse to scale performance and development of the sector. And reference should be made to Chapter VII imposed on Germany after losing the war but when monitoring of its economy and its development as well as financial and monetary policy from the first raised by Chapter VII until 2005 and this can be verified, then he must find the ancestor to take advantage of the move of the three sectors in all its activities,
there is no excuse, and the Executive Branch to develop the Iraqi economy constants And clear guidance when monitoring for the moment cannot know whether our economy is commercial or industrial or agricultural, and branches review laws and regulations more than 22,500 Act which enshrines the central system which increased rather than decreased after 2003,
obvious, beyond the central but also the situation of monopoly and bureaucracy in overall performance and high enough that some ministries were working with the Commission rather than production, as in the case of the Ministry of industry ,
As well as the Ministry of Commerce when you return to the method of General Motors company difference allowed for some public sector import but everyone passing through the Ministry of Commerce
[oogie] It took all this time and for this to come about to prove the BS that the gurus were saying years ago about contracts being signed was just BS! Companies were not going to invest until this happened.
In conclusion, we must say that the first gains are a step in the right direction to return Iraq's sovereignty in full and undiminished step will remove the obstacles and fenders in Iraq's economy by developing and facilitating his mission to create a balanced and rational development in Iraq for the benefit of human resources which suffered from entrenched under siege and war that preceded it
[tlm724] As we await the UNSC vote tomorrow at 11:00 am eastern it's not hard to be excited both for Iraq and for us investors. this is an historic moment in time and the full liberation of Iraq will propel them right to where they need to be and we will be here through each step with you all ! Thank you
[Shredd] thank you timmy !
[tlm724] no thank you Shredd !