Update: Monetary Reform
Next let’s talk monetary reform…our favorite subject….lol…lol…
Remember once again the MOU (memo of understanding) between Iraq and the IMF. It was agreed to in October 2015 and published to the public viewing on 12th January 2016. I talked about this MOU in my recent news letters. I even gave you a link to the UN site so you could read it for yourselves.
There were many obligations agree to in this MOU and the three most critical items where due to be completed by the end of February. It is now early March. The IMF said it would review the progress again at this time. One of the items was to remove all barriers and obstacles to increasing the exchange rate of the Iraqi dinar. So now we see the IMF, the World Bank and Iraq meeting once again as the deadline has passed (see article below).
Will Dr Shabibi come back as the governor to help? Will Allen Greenspan help since we now know he is in Iraq. Will they decide to go international and put the currency on a float to meet this mandate?
PRESIDENT OF THE INTERNATIONAL MONETARY FUND AND BAN KI-MOON TO VISIT IRAQ SOON
Direction Press /
The head of the House of Representatives Saleem al-Jubouri in a speech in the House of Representatives, said on Saturday that "previous encounters led by the International Monetary Fund during our visit to Washington led to the latter pledged to make every effort to support Iraq."
The President of the Parliament in a statement quoted by the media office had received "direction Press" that "I've been told that the presidency of the Fund together with the Secretary General of the United Nations Ban Ki-moon will visit Iraq soon and meet the House of Representatives where it will be speeches from the Dome of the Iraqi parliament for both of them to support Iraq economically and appeal all brotherly and friendly countries to contribute to the support of Iraq and take it out of the financial crisis. "
He expressed the hope that "believes in good financial move Iraq toward a grant paid out of the crisis significantly.
JUBOURI: WORLD BANK PRESIDENT WILL VISIT IRAQ TO DISCUSS ITS ECONOMIC CRISIS
March 5, 2016
Our economy / Baghdad
Parliament Speaker Salim al disclosed that the World Bank, "chairman Jim Yong Kim," will discuss Iraq's economic crisis during his upcoming visit to the country.
Speaker of Parliament and through the House of Representatives today 's meeting stressed that " the World Bank president vowed to make efforts to resolve the economic crisis in Iraq."
He Jubouri that "there is a call for the World Bank president to visit Iraq and to come to the House of Representatives to discuss the economic problem and ways to address them."
The head of the UN Mission United in Iraq , Jan Kubiš revealed in 13 of the last month for a planned visit by the Secretary-General of the United Nations Ban Ki -
A GLOBAL CONFERENCE TO DISCUSS BANKING SERVICES IN IRAQ
Monday , March 7, 2016
Mustafa al-Hashimi on Monday held the third World Conference and Exhibition on the financial and banking services in Iraq (Iraq Finance 2016) and lasts for two days in the capital Albannaanh Beirut. He said Ahmed Al Jader representative Szimksko company in Iraq organized the conference in a statement »Sabah»: The financial Iraq conference, which is held under the auspices of the Central Bank of Iraq, is the leading international event which provides an opportunity open dialogue between Iraqi government officials and decision-makers with the investors in the service industry Finance such as banks and local banks operating in Iraq and international companies seeking to develop its work in the local financial markets.
He explained that THIS CONFERENCE WILL FACILITATE THE OPPORTUNITY FOR PROFESSIONALS AND FOREIGN INVESTORS FOR THE DEVELOPMENT OF THE BANKING SECTOR IN IRAQ BY PROVIDING COMBINING BANKS AND INTERNATIONAL COMPANIES A PLATFORM TO COMMUNICATE WITH DECISION-MAKERS AND THE IRAQI BANKS AND THE EXCHANGE OF IDEAS AND EXPERIENCES, AS WELL AS PROVIDING THE OPPORTUNITY FOR BUSINESS DEALS FOR THE DEVELOPMENT OF THE BANKING BUSINESS IN THE COUNTRY, the fact that banks play a role president in the development of the Iraqi economy through the transformation of the economic challenges to investment opportunities.
Update: Needed Laws
PARLIAMENT FINISH READING THE THREE LAWS AND TO RAISE ITS TOMORROW [EXTENDED]
The House of Representatives ended in its usual , headed by Salim al - President of the Council and in thepresence of 267 deputies on Saturday, reading the three bills before to raise its to Sunday.
At the outset of the meeting hailed President al - Jubouri on the efforts of parliamentary committees of theextraordinary efforts in the legislative and supervisory work, especially the Legal Committee that take it upon themselves to submit draft laws, noting that the draft of the amnesty law is ready for presentation to a vote in the House.
On the other hand , al - Jubouri pointed out that the World Bank pledged during the meetings held with officials to make efforts to support Iraq and help him out of the financial crisis, pointing to the acceptance of the World Bank president and general secretary of the United Nations for Iraq 's invitation to come to the House and talk about the financial crisis and provide assistance and advice, stressing the importance of that economic reform the most important aspects that the House of Representatives is looking to achieve.
the chairman of the parliament to the need for the House of Representatives moved on Member States at a conference of Islamic associations parliaments and conduct dialogues in areas that serve the issues of Iraq.
He noted Jubouri to the keenness of the House of Representatives on the implementation of the reform that bears the executive responsible for any delay in the execution, criticizing the defamation campaign against the House of Representatives, especially with regard to salaries, noting that the House of Representatives first dish reforms and continuously implemented for the benefit of the Iraqi people, expressing the appreciation of the Council for the demonstrations that came out and standing by the demands of the masses, blaming the responsibility for delaying Tnniv reforms including promised reform was implemented.
In turn, the chairman of the Finance Committee MP Faleh force of the Council 's commitment to the Council ofMinisters decision Btejevd salaries of deputies and prepare protections since the first of August, as well as Council staff to reduce the salaries revealed, adding that the statement by the spokesman for the Council ofMinisters in this regard not true that the House of Representatives is committed to reforms.
After parliament voted on membership Attorney Luis Caro Bandar health of the mass of the popular Council of Chaldean Syriac Assyrian Word appeal submitted by Adad Yusuf Ishaq , who belongs to an entity sons of Mesopotamia. The Council also voted to membership MP Kamel Nasser al - Zaidi 's health which belongs to the entity of the state of law of the Islamic Dawa Party - Iraq organization stated appeal by Ali Jabbar maintained against him.
He recalled the Council KRG uprising of Representatives against injustice and tyranny which his body dictatorial regime of the former. " This was followed by the Attorney Saman Fattah , a statement on behalf of Kurdish blocs in which he pointed to five passage twenty years on the Kurdish uprising against the former dictatorial regime , which coincided with the popular uprising in the south, recalling the struggle of the people of Kurdistan in order to claim the right to self -government, calling at the same time , the House of Representatives to intervene with the State Department to demand a halt to the Turkish bombardment of Kurdish cities. It was then read Al - Fatiha in memory of the souls of those who sacrificed themselves for the homeland and freedom.
More to the article not presented here. It is very long and this news letter too is already large. But you have the important parts.
Let’s talk today about this damned Amnesty law.
First let me say this law was initially conceived in 2005. Yes- it has been around a long time and has met much opposition especially by those corrupt politicians who have had their own “private” militias terrorizing the Iraqi people all these years.
So once again the General Amnesty law surfaces (for the 5th time in recent times…lol…) and they are telling us it is ready once again to bring to parliament for a final vote. I am hearing the Dowa party (again) has been holding it back since they wanted to include terrorists accused of the bombings (probably Iranian militia).
It is a strong part of the reconciliation process and Abadi reforms.
I quote from the article below - "the law will include a large number of convicts and detainees, including those convicted of murder if there is a compromise and reconciliation with the victim," pointing out that "the law DOES NOT INCLUDE those convicted in accordance with Article 4 / terrorism”.
We know they are letting thousands of innocent prisoners out every week. So the article below confirms in fact they are NOT going to let the terrorists out. Remember also they already passed the Iraqi anti-terrorist act back in August 2015 so these prisoners will stand trial and probably be executed since terrorisms is now punishable by hanging in Iraq.
Opps did I mention according to the new law Maliki and many of his goons would also be incited on crimes of terrorism? Can you see now why the final version of this law keeps recycling? Can you see now how they are setting the stage for prosecuting many of these corrupt officials in the near future? Can you see how they are going to use the system to get them?
So we know the Amnesty law has been a “ work in progress”. It is done once again but still needs a final vote to be final and legal going forward (so they can get these bastard corrupt politicians later on…lol..) . I also mentioned to you many months ago this is a mandatory law prior to any RV. So this is all very good news, if they really go through with it this time. Just one step closer….lol…lol…We should all be excited in many ways of the things to come out of the full implementation of this law.
SADOUN'S: FINAL AGREEMENT ON A GENERAL AMNESTY DOES NOT INCLUDE TERRORISTS
At one point during the past 3 years, there were over 100,000 people in prison, including men, women, children, and mostly Sunnis. The prisons had Shai -I guards over the Sunnis, an arrangement done by Maliki. Many people were put in prison due to artidle 4 of the Constitution, since Maliki accused everyone as being a terrorist, if they were against him. Now, we see this MAJOR LAW ABOUT TO BE VOTED ON IN ITS FINAL FORM. This law is needed to bring corruption into the court rooms, and assign the proper punishment for the crime committed. Below we see a line of people, that appears to be people leaving the prisons. JMHO
Vice-Chairman of the Parliamentary Legal Committee Muhsin al-Sadoun said he "was a final agreement on the wording of the draft general amnesty law."
He said al-Saadoun told all of Iraq "We discussed yesterday the home of the President of the House of Representatives general amnesty law in the presence of competent judges and display the main points of contention have been agreed upon."
He explained that "the law will include a large number of convicts and detainees, including those convicted of murder if there is a compromise and reconciliation with the victim," pointing out that "the law does not include those convicted in accordance with Article 4 / terrorism."
He guessed Sadoun "Showing law in future meetings and vote on all articles," stressing that this law "falls under the reform."
The House Speaker Salim al-Jubouri, search at his home yesterday, with the parliamentary legal committee in the presence of a number of judges and experts and advisers to speed up passage of the amnesty law.
The head of the parliament, "the need for the completion of the preparation of this law as soon as possible and the need to come out so as to ensure justice to all the slides and applies justice and help create a favorable climate for moving a successful project and a real reconciliation."
The Chairman of the Legal Committee of Parliament Mahmoud al-Hasan said to [where] earlier, "a political convergence around a general amnesty law, through the re-trial of a number of suspects in terrorist crimes through giving them a new opportunity to re-investigation," pointing out that "the investigation will include a seducer and all of them doubted the charge against him ".
Update: Payment of Employee Salaries
I have to tell you this topic is like going down a rabbit hole as far as intel goes. I keep hearing many of these so called intel gurus telling their audiences to keep watching for the new rate to show on this damned SMART cards. Over and over again for over a year now they get everyone hyped up to watch for these cards.
Well I will tell you this – The new rate will NOT show until the RV happens and they are not now paying the people with the RV rate…period! I have to tell you to stop watching for these damned SMART cards and I have told everyone many times already.
They do not have any impact on the RV. They do not drive the RV but rather will be an outcome of the RV.
If you want to know if the RV is happening then go to the source. I have been told by some very reliable people in the CBI to PAY ATTENTION to what is going on with the GOI and the CBI when they meet with the IMF and World Bank. They are in charge of forcing this RV when Iraq has met all mandates.
So I bring you this next article below. This issue is important to watch. Why?
Because it shows us once again the CBI is not doing its job. Also note there is an expense to print newer currency to replace the old ones. An expense the GOI is not ready to occur anymore since there is a ton of the new lower denominations in storage warehouses ready for distribution. This is the reason for the hesitation.
It all makes perfect sense! Think about it! These lower denominations should have been distributed months ago to replace the 3 zero notes. This is really the problem here but nice article for us.
EMPLOYEES RECEIVE THEIR SALARIES COMPLAIN OF STALE CURRENCIES
BAGHDAD / JD / .. complained about a number of government employees from receiving their salaries currencies paper stale difficult traded in the domestic market, the central bank, demanding the withdrawal of those currencies and replace them with new ones.
Said Ahmed Abdel Sattar (asserting that those currencies traded in the market is difficult, because the owner of the commercial shops refuse to take delivery teacher), he received his salary during this month, last month paper currencies and very stale and patchy and the colorful graffiti inks.
Said Abdul Sattar told / KD /: that most of the salary is paid in the currency of 1,000 dinars and the 5,000 dinars, while the former was distracted by 25,000 thousand dinars and 10,000 dinars, urging the central bank to withdraw the defective ones editions of the domestic market and replaced with new ones to reduce some of the problems It may occur.
He suggested the distribution of employees' salaries through the smart card (Key Card) after he succeeded when retirees, so as to easily receive and reduce the thefts that have occurred in a number of state institutions in the last period.
For its part, the parliamentary finance committee confirmed that the central bank is usually based printing new currencies of the damaged ones and pull, excluded that there will be a very stale editions exist in abundance in the local market.
A member of the committee MP Jabbar al-Abadi told / KD /: that the central bank is usually watching and through the Iraqi currency State-owned banks and editions in various categories. When there are editions too stale so they can not use and circulation who shall bank transfer to the central bank and the latter in turn will print a new currency bearing the number He put himself on the market.
He said there could be corrupted currencies in the market, but not the size, which feared, though, the central bank demands to tighten the monitoring and follow-up for those currencies for the purpose of replacement.
He stressed that austerity does not prevent the central bank from carrying out his duties and is maintaining liquidity on the market.
Update: Fighting ISIS
The article below is just another confirmation that the battle to retake the Mosul is now ongoing. We know this battle has in fact been ongoing now for weeks already. This article is a bit late but it is the announcement for the general public to the western world not for the middle east. As usual we see they are delaying the news by a couple weeks.
Incidentally I do believe Iraq was not successful in taking the currency out of the MCP (multiple currency practices), in other words keep the dinar rate at plus or minus 2% throughout all of Iraq. So what will happen next?
What will the IMF and the World Bank decide to do next? Will they simply give them more time to complete or realize the current CBI leadership does not have the expertise to accomplish these mandates?
THE INTERNATIONAL ALLIANCE ANNOUNCES THE START OF THE RESTORATION OF MOSUL DAASH PROCESS
Saturday 05 March 2016
Announced the US special envoy to Iraq , Brett Makourk, Saturday, the start of the battle to liberate Mosul from the control Daash, through cutting the road between tenderness and Mosul. He described Makourk process Palmakdh, stressing that it was well - planned.
In the meantime, a spokesman for the command of the coalition forces said international Colonel Christopher Garver said 30 thousand Iraqi troops are planning to attack the city of Mosul, in northern Iraq. he pointed out that "from 8 to 12 Iraqi brigade, two Kurdish Peshmerga are preparing to retrieve Mosul , which may exist out what to no more than 10 thousand gunman continued to Daash" pointing out that " the Iraqis are still in a preparation of the plan." He explained that terrorists Daash, "they deport their families out of Mosul, and paying the salaries of the least of their fighters due to attack US troops and financial and oil for their organizations." bombed Iraqi heavy sites "Daash" south of Mosul: in the context of offline, the Iraqi security forces have carried out, on Friday, the first strikes on sites belonging to the terrorist organization Daash, south of Mosul seized by organizing the summer of 2014.
One more item today:
Most importantly please, please, please let’s not forget to keep praying for the success of THESE IRAQI AND COALITION SOLDIERS. I believe our prayers are in part some of the acceleration of the process we are now witnessing.
Remember too to pray to the princess of peace – Our Blessed Virgin Mary. She has the ear of Christ and she can intercede in heaven and bring us the peace we all desire here on earth. We can not do it alone. I believe that if we all make this our daily prayer you will see change. It is already working even in the short time since I have been publishing this prayer section. It does not matter what religion you believe, if you pray then to your oven beliefs entity it is still the same powers and good for all of mankind. Ultimately it is all the same God anyhow.
“Lord, protect Abadi and all who stand with him in righteousness, the Iraq and coalition soldiers who are fighting the good fight against terrorism, that they would be shielded from the enemy and would be victorious against them in the battle for Mosul! We ask that the victory comes swiftly and healing of the Iraqi peoples and all whom have been effected by these evil doers can begin!
We pray for the process of the currency reform, the full implementation of the Iraqi economy to full international status and the bringing of prosperity and wealth to its people“ Amen!
Till next time…. Auf Wiedersehen!
Peace and Luv To Ya All,