Tuesday, 19 February 2013 15:52
Baghdad (AIN) -Member of the parliament Finance Committee, MP Majida al-Timimi, announced that "The political blocs agreed during meeting on Tuesday to settle the controversial points between the Kurdistani Alliance and the Iraqiya Slate over the 2013 federal budget where all their demands were answered."
Timimi added in a statement received by AIN "The Federal Budget now is prepared for vote during the parliament's regular session of next Thursday." /End/
DONTLOP: i think its a positive step too .. it shows they are able to meet their obligations ..it shows a functioning government ..
i remember awhile ago some said they were waiting for the budget to see if it was in a revalued dinar like instead of it being 115 trillion dinars .. it would be 115 billion revalued dinars at the new rate .. then somehow it turned into when the budget passed its going to rv ..lol
Read More Link On Right
DONTLOP CONTINUES: who knows maybe the delay is intensional and being delayed for more time on other things . but the draft from october .. shows not much of a change from last year .. it is increased in some areas .. but only by a few billion dollars ..
so we wait .. hopfully it goes thru thursday .. after that it will be oil law .. and if that doesnt get passed .. we will be here next year waiting for the budget and the claims thats what were waiting for again ..so we should get this out of the way now .. is next years budget what were waiting for for a rv ? lol
the article 140 checks are going out when this budget is passed .. that is important to the kurds in the north .. not to all the iraqis . and not to the cbi , but it should play into macroeconomics of iraq which does have to do with gdp which does have to do with wealth . which does have to do with ability to pay debts .. which has something to do with confidence of the dinar .which has to do with ..lol..i think its all covered in macroeconomics.
alot of things are coming together at the same time ..thats forsure .. its like its leading up to something . like a time frame ..or dead line .. where bench marks are met so the next step can go fourth . ya got to lay the foundation first .. then ya can build the building
DONTLOP CONTINUES: i dont think anything has to happen by the 23rd ..the 23rd is just the expiration date of the stand by arrangement iraq has with the imf .. the 23rd represents the end of the monitoring period ..
the imf will file an update on the progress in iraq eventually ..im sure they wont be able to file the report instantly . but who knows maybe they will ..during the monitoring period iraq has had a stablized arrangement with the imf to exchange their dollars into dinars at the program rate 1170 for the last 3 years ,,
although it was changed one time in the last 3 years by 4 dinars to 1166 . they say because of the dollars decline in value .. it has stayed on a program rate for monitoring purposes ..
i , myself see this as a point where the rate may change .. maybe some type of new monetary policy. such as a managed float .. others think it wont happen till other things happen ,, like oil laws .. budget ,, article 140 implimented . maliki being replaced . ect .. ect. ect. ..
but i think it could be this .. the rates have changed up to 2009 .. then they just stopped when this stand by arrangement began ..how could the rates change before ... the stand by arrangement .. if they had o pass the iol laws .. or replace maliki .. or impliment article 140 .. who knows ..
but they did change from 4000 to 1170 then the program rate of exchange came .. was implimented under the agreement .. and hasnt changed .. now the arrangement is ending on the 23rd of feb .. so we wait ..
what i was saying is ..if you have to pass a oil law to change the rate .. how did it change before ? the oil laws werent passed .. yet the rates changed many times over the past 10 years . but it all stopped after the sba started