(Thank you George for emailing this to Dinar Recaps.)
UU7733 - Candidates for the Prime Minister are announced
I come to you today to give you a recent update on the election process and how this relates towards the international rollout of the IQD for Iraq. The news was so overwhelming and just pouring out of Iraq.
This is a time of great anticipation and expectation not only for our ability to finally exchange our IQD but also for the people of Iraq. They too have been waiting but a lot longer than we have. Don’t forget they had more than 20 years with Saddam and then that last 10 years of war. occupation and Maliki. When is it all going to settle down for these people? When will they finally see some resemblance of peace and prosperity?
If you have not read my previous news letter from Friday 7/28, I encourage you to first read it. Today's news letter, as in all my news letters, is a continuation of the ongoing saga of the IQD RV process.
It is Wednesday 7/30 and all the news from Iraq is very, very good. Very good for the people of Iraq and very good for us investors.
Today the MP for the Liberal bloc, Riad al-Saadi indicated that the National Alliance has five candidates for the post of prime minister while noting that the outgoing Prime Minister, Nuri al-Maliki, withdrew his candidacy for the post because of political pressure.
I got to tell you I waited to write this news letter today since I was not sure if Maliki did in fact withdraw his candidacy. The “super bloc” worked. I do whole heartedly believe that Maliki finally turned in the white flag of surrender due to this new political "super bloc".
Over the last couple months we have already heard on three different occasions when he had resigned, then he was back in politics, then he withdrew his candidacy again, then he was back in politics again, then resigned again. So what is it?
So after talking to many of my sources I have come to the conclusion that in fact he would still like to have a 3rd term, if possible, but under political pressure he did finally withdrew his candidacy early today. This is not rumor (at least for now….lol….just kidding....)
So who are the candidates for PM?
As I have said in my last news letter from Monday 7/28 and from previous recent news letters, that when we finally get the list of candidates for prime minister from the National Alliance bloc, the actual voting in parliament is not very far away.
I still believe that they will take the final vote prior to Aug 5th and they will seat and announce their new prime minister to the world. It is not done until we actually see it announced to the world and on public TV for all to see. So we are now in a 6 day window to see this happen. It could literally happen any day, like maybe tomorrow.
So today the names of the five candidates were revealed to us as follows:
1) from the largest bloc in parliament (180 seats out of 328) the National Alliance are:
Adel Abdul Mahdi
2) from for the State of Law coalition:
3) from the Mass Reform bloc
I believe the most likely to win due to his support from all the parties outside the National Coalition is Al Jaafari. We wait and see how it turns out. Note Maliki’s name was not presented as a candidate.
The Continuing 2014 Budget Saga
In past news letters I mentioned that Jubouri, the speaker of parliament, instituted a formation of a temporary committee by the House of Representatives, to work on the budget. This committee included 17 members, headed by Salim. This legislation has become an immediate necessity.
Today Iraq parliament sent a modified version of the 2014 budget bill from the committee to the federal government for approval. Next it was sent to the House of Representatives for approval.
Mainly the past differences and issues related to this 2014 budget has been between the governments in Baghdad (GOI) and Erbil (Kurds) on the export of oil from the province of Kurdistan. Mainly it is from how much revenue Kurdistan will be granted from the sales. I have to tell you that 7 months ago, when discussions first began on this topic, there should have been no dispute since the percentage of revenue going to the Kurds had already been spelled out and agreed upon, long time ago. Now they only want the GOI to live up to the past agreements.
Why do I keep mentioning this budget?
So today the really good news is the budget approval has happened in parliament after the members agreeing on all points. This new budget was agreeable to members of the parliamentary bloc of the State of Law and the agreement made with all the political blocks in the House of Representatives.
Folks we had a passing of the budget for the year 2014. Hurry ! Finally !
Do you remember that I also told you that the RV is not dependent on the budget being passed but the budget needs the RV prior to opening it and spending it. So I said that when we see the budget passed, the RV will come very soon afterwards, if not just before. We are soooo close to an RV !
So today’s news is all very, very good news.
These two tid bits (indicators) of news today are extremely important and we have been waiting for this news. We have been waiting all along to see these signs that we are very near to getting the final rollout of the IQD to international.
Ramadan is now officially over. Eid al-Fitr the last day of Ramadan, a festive day and so it too is also over. Will Iraq now finally complete the formation of their new government? There is one last step to complete it and that is to announce the prime minister. I was told they will complete the new government within days if not hours after the holiday.
There are many that say they want to roll this RV out by end of July. Today is July 30th just one more day to the month of July. I too believe this is true. It has been stated many times since January that this is a target in many articles. I have not heard Iraq say it will be delayed. Can they do it? They seemed to have missed most deadlines/targets in the past and always find a way to deal with the consequences. I am optimistic they will complete it this time. We are soooo close.