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Dinar Updates Monday Early AM Chat 11-28-16 Part 1 of 2
rcookie says():Parliament to raise its next Thursday
Political Since 11/28/2016 13:17 pm (Baghdad time)
Baghdad balances News
I decided the presidency of parliament, on Monday, to adjourn the meeting to next Thursday.
A parliamentary source said, L / balance News /, "The House of Representatives to raise its usual next Thursday."
He added that "the meeting saw the completion of the report and discussion of the proposed media and communications law, as well as an end to the continuation of paragraph discussion of the draft law regulating commercial agency" .anthy 29 / A 43
rcookie says():THERES THAT COMMERCIAL AGENCY LAW.......HUGE...HUGE....HUGE!!
Doug_W says():GM 2 U 2 Mr. Cookie
DIGIman1 says():gm doug gm mr cookie
subgirl says to Doug_W():Loop is at it again with the news article in the forum too rcookie... between you two WOW!
subgirl says():Parliament postpones vote on the budget and the law of arms
Author: HH, SSJ editor: HH 28.11.2016 12:26 Long-Presse / Baghdad
I decided the presidency of the Iraqi Council of Representatives, on Monday, to postpone the vote on the fiscal budget bill for next year 2017, the law on weapons, while Parliament Speaker Salim al-Jubouri, was commissioned to two parliamentary commissions to hold a joint session to prepare a final version of the law.
A parliamentary source said in an interview to the (long-Presse), "The Presidency of the Council of Representatives decided during the 33rd session of the first legislative term of the third legislative year to postpone the vote on the fiscal budget bill for next year in 2017, to a scheduled meeting next Thursday."
The source, who asked not to be named, said: "The presidency of the Council also decided to postpone the vote on the Arms Act to a malfunction in its drafting," adding that "the parliament speaker Salim al-Jubouri, the Legal Committee and the Committee on Security and Defence to hold a joint session to prepare a final version of the law mandated."
The Iraqi Council of Representatives held on Monday, its the 33 of the legislative term of the first third legislative year, headed by Prime Saleem al-Jubouri and the presence of 184 deputies, while the agenda of the meeting included a vote on the financial budget for the next year in 2017, and the law of arms and voting in principle to the first amendment to the law Amnesty year.
subgirl says():from loop!!
subgirl says():Jamal Muhammadawi announce Send notes to the Parliamentary Finance Committee are demanding include in the budget
Monday 28 November 2016 | 13:50 BAGHDAD / ... MP from the parliamentary bloc of the Virtue beauty Muhammadawi, Monday, sending a series of notes to the Finance Committee in the House of Representatives, and as a student include in the draft budget law for 2017, said she came halves in order to certain segments of Iraqi society.
Said Muhammadawi at a press conference at the parliament building and attended "appointed Iraq News" that among Mahlahzat are, in addition article, which listed in the paragraphs of the federal budget for 2016, which is for oil licensing rounds, which stipulates that the federal government and the oil ministry is committed to reviewing the licensing rounds Contracts Act oil to modify the terms of the contracts in order to preserve Iraq's economic interest and pay increase oil production and reduce costs and create a mechanism for the recovery of costs in order to fit with oil prices.
He pointed out, that most of the general budget revenues rely mainly on oil revenues , which totaled more than 86% of total revenue , and most of these revenues are from oil installations in Basra province and bear preservation of the environmental and social damage due to these facilities so we demand an increase to maintain allocations allocations of regional development and the conversion share of petro-dollars included in the draft budget by 5% to $ 5 and raise under the 5% of $ 500 billion , because it makes the ratio mentioned sham.
He called Muhammadawi, to the inclusion of the operating contract employees in the Ministry of Electricity paragraph license (5 years) contained in the law , with the deduction of pension benefits (as desired) so as to reduce their numbers could not be installed for the total number of them and of approximately (11,600 contract).
He said, since the previous budgets have included calculating the length of service for purposes of retirement for the staff of the Ministry of Electricity contracts audited their names in the General Secretariat of the Council of Ministers as it Diwani 53 for the year 2013, we propose to open the retirement door by a desire for those who totaled his service 15 years and over.
He suggested Muhammadawi, the inclusion of investment contracts for financial grant and leave five years , similar to the staff and by employee 's desire, and the addition of material belonging to staff in contracts for the purpose of adding the service for which they spent in their constituencies and recognized for the purposes of the bonus, promotion and retirement in the event of confirmation.
He also called on the mass of virtue, to find a suitable solution to the staff of the Independent Electoral Commission , who worked as a contract through the allocation of functional grades for them.
He pointed out that he, suggested adding a paragraph companies that have the money owed by the province and requests amounts receiving initial and final and insurance resources and the amounts of taxes, debts and other things to ensure that the special budget clause and the Ministry of Finance and the Central Bank to pay these amounts.
subgirl says():He continued, we we have included other observations concerning the addition of a paragraph to the budget law stipulates, that the movement of sub - circuits and devices and services and competencies exercised by the ministries of education, health, agriculture, youth and sports, Labour and Social Affairs and the Ministry of Construction and Housing and public municipalities with allocated in the general budget and staff and their personnel to provincial allocations remains the role of these ministries is the planning and follow - up in order to effectuate the principle of decentralization and administrative.
He noted, that among other observations that relate to add a paragraph to the budget law , is the allocation of a percentage of the deduction , which includes all retirees of $ (4.8) and allocated for the displaced folk crowd into retirement services staff, knowing that he was no applicable law in the former regime deducted gain of 1% and added to the staff of the retirement community.
He stressed Muhammadawi, the need, add a paragraph in the budget law pertaining to members of municipal councils and ensure them back to their former jobs to their term of membership of these councils or retirement. Finished 1
rcookie says():IMF ... between the development of economy and finance of corruption in Iraq
November 28. 2016
Corruption and economic disarray practiced by successive governments in Iraq since 2003, in all its forms and fields is more greedy and deadly and spread the country's economy from the direct physical occupation.
And it highlights the seriousness of the corruption Iraq's request to borrow from the International Monetary Fund; to address the deficit in the balance of payments on the one hand and dumping the Iraqi economy, debt and economic dependency does not end on the other hand; forcing Iraq to open the doors of its economy wide for interventions, and controlled by the IMF's major companies IMF, who will bear the burden of debt for future generations.
In the same context, the Iraqi government signed the so-called agreement warm-measures with the Fund; because of acute shortages and balance of payments deficit of Iraq in light of the financial crisis, and corruption, stifling the economy and waste of public money to the state, and these measures represent a program overseen by the Fund with the help of the World Bank; to assist member countries two, and facing such crises.
Created the International Monetary Fund by the end of the Second World War, which claimed the lives of tens of millions, as it met in 1944, representatives of 44 countries at a conference in Bretton Woods, USA, where they put the plans in order to stabilize the global financial system and encourage the development of trade, remove obstacles in the long term on lending and international trade, and the reconstruction of Europe.
And discharged from the Bretton Woods Conference, which is essential to oversee the international monetary system and strengthen and to provide advice to its members on economic policies, and provide loans to the Member States, and control of recycled Convention.
The fund gets its funds from the member countries, and depending on the size of the quota is determined by the number of each country's votes in the Fund's members, and the limits of borrowing provided by his fund, the greater the size of the country's economy in terms of output, increased its stake in the fund, the United States of America, which is the largest economy in the world, and contribute the lion's share in the international Monetary Fund and a share of the 17.6% of the total quota
rcookie says():Can not be separated World Bank action which works on the development of developing countries, the fight against poverty and the development of financial systems of the Member States for the work of the International Monetary Fund, they are working in parallel and cooperation, and are linked organically, and to any State that becomes a member of the World Bank requires her to be a member of the Fund international Monetary first.
And that's where the International Monetary Fund works as an umbrella safety and the protection of international financiers, as they can be Akarzoa their money without caution or concern at will when the liquidity they have, the fund repayment to them and ensures that no matter what the conditions are, and the results, note that this is contrary to the principle of a free market, which states:
"bear the lender and the borrower's part of the responsibility taken by the lending decision "; which means that the financiers are making gains and profits under all circumstances, while the borrower pays high prices in the cases of right and wrong, (vow of globalization / Yahya Abdul Hai Zaloom).
In May / May 2016 and the IMF agreed to give Iraq a loan of $ 5.4 billion over three years, and was the first value of a batch of the loan of $ 600 million, and the unfortunate fact that are lending to the oil country program application, so how about if this is the state of the richest countries of the world, such as Iraq; and it raises doubts about the issue of borrowing.
The financial and administrative corruption and financial crises in Iraq sapped its economy Because of lower oil prices, Iraq has lost 85% of the strength of its economy; for adoption mainly on oil, causing paralysis of the economic movement in it,
"because the rentier mentality that government works depends on the sale of crude oil, and the principle of maximizing financial returns far from achieving sustainable development, growth rates, and this is a deficiency and clear to the political system and a lack of experience on how economic life management and reforms and management of crises,
and do not keep up with developments in the economic and political environment and the technological revolution at home and abroad; the creation of these crises, so it was necessary, the relevant macroeconomic management, a series of actions
rcookie says():a series of actions which is evaluating the reserves of the state of the foreign public debt, currencies, after the general financial evaluation and availability of financial resources for investment, as there must be an order of priority that would achieve economic reforms, and all these reasons and the absence of economic decision to address the crises reflected negatively on the economic situation and brought the government to borrow money from the international Monetary Fund.
Economic Adviser to the Prime Minister revealed the appearance of Mohammed Saleh, said that the loan was worth $ 5.4 billion.
And that the interest rate on this loan does not exceed 1.5% per annum.
It is assumed that this loan helps to strengthen the creditworthiness of Iraq, while the Parliamentary Finance Committee criticized Iraq borrow from the IMF and legacy of corruption eating away at government departments. (Compare with news)
The IMF has put several conditions on lending to Iraq, including oversight of the auditing Iraqi financial institutions, and the reduction of social benefits, and not compromising the salaries of young staff, with the exception of second-class staff and first who are the rank of director general or above, and the imposition of a tax expense of them.
rcookie says():Premium Fund loan granted to Iraq to 17, a boost that is watching after each batch bridge the economic gaps by Iraq mechanism, what is so obvious evidence that calls into question the credibility of the IMF policies pursued by successive Iraqi governments over the previous years after 2003.
As a result of this corruption revenues fell; what contributed to the high number of poor people in Iraq for more than 10 million people while the country is witnessing a big wave of displacement exceeded 4 million Iraqis are suffering a lack of services or any chance to live decent, and the widening financial gap between expenditures and revenues to $ 50 billion according to Iraqi government sources.
And the balance of payments registered a deficit may be financed sections of it by using foreign reserves, which shrank by 13% at the end of September 2015, according to the International Monetary Fund and approval of the Iraqi government to do so.
IMF experts noted the following observations on the economic policies in Iraq:
1-lack of discipline in the public finances of the Iraqi state, expressing disappointment that the process of allocating oil resources are based on political considerations, not economic science.
2-large banks in the name, size suffer according to the IMF experts severe shortage in the capital, Fmsrv Rasheed has half of the minimum capital requirements of 250 billion Iraqi dinars, or $ 214 million.
The Rafidain Bank, it has a minimum of five, while Islamic banks and the number of 6 banks operate without its own Islamic banking law. Although the number of banks in Iraq of 56 banks, there is no exchange of information among themselves about what the terms of existing or potential borrowers.
It is strange that the Iraqi banks do not apply the most basic assets of banking, because after thirteen years of change that took place in Iraq, they do not have a record internationally tariff, (IBAN), which is an essential and important in the global banking deal, because the corrupt do not want to link the system Iraqi banking with the global banking system to facilitate money laundering operations and the financing of suspicious transactions; what does this impact negatively on the development of the banking sector, the decline in the flow of foreign investment.