aggiedad77 » February 9th, 2015, 12:02 pm
Monday News Summaries and Commentaries
There has been a plethora of information via the news articles over the past couple of days and today's initial sign doesn't seem to indicate it will be slowing down any time soon.
Urgent .. Abadi visit Babylon today for the opening of a sugar plant
Ok, PM Abadi was supposed to leave for Dubai last night, now they are saying he's going to visit the opening of a sugar mill plant....something doesn't jive here for me.
Central Bank sold $ 300 billion in past years to preserve local currency
So the CBI has spent/sold $300 billion in the past few years through their auctions, an average of roughly $180 million per day they had an auction.....and these auctions have long been seen as a stabilizer for the IQD against the dollar.....
Now the government in their wisdom has put a cap of $75 million per day....less than half of what has been averaged.....for the reason they say to eliminate money laundering and corruption.....analysts predicted such action would weaken the IQD against the dollar and it has in the past week....the government sees this though as merely a bubble that will in time reset itself.
Newspapers Monday bother infallible upcoming visit to Qatar
So we have President Masum heading to Qatar...and PM Abadi and PM Barzani headed to Dubai....Masum is going on a good will trip to Qatar to build bilateral relations with their neighbor....to foster a new policy aimed at openness amongst Iraqi neighbors.....Abadi is set to announce a new initiative this week that will both strengthen the Iraqi economy and support the private sector.
Abadi cancels his visit to Babylon to bad weather
So now the plans to visit the sugar mill plant are cancelled due to weather....what weather.....is PM Abadi in Dubai or not....inquiring minds wish to know...Where in the World is PM Abadi.
Warnings from the continuing decline in the exchange rate of the dinar against the dollar
What has brought about the decline in the exchange rate of the dinar against the dollar in recent days......could it be a combination of taxes that are imbedded in the 2015 budget....along with austerity program the government is proposing for 2015....coupled with high market prices....all working to increase the dollar against the dinar.....so to find out really what is going on with the exchange rate the Parliament Finance Committee will be hosting the CBI governor for a questions and answers session.
Formulation of gold and silver .. mark of distinction in the history of the Mandaeans Dhi Qar
The family trade and tradition is rock solid in Iraq.....gold and silver both hold highly esteemed distinctions within the history of some provinces.....like Dhi Qar.....family trades passed from one generation to the next.....they work a trade where the products are highly attractive and well preserved.....a trade that is filled with skills of artisans who know their work well.
Iraq: The Central take action to stimulate the economy
The CBI is taking steps...steps they talked about a week to 10 days ago....loaning money to commercial banks to the tune of 5 trillion dinars....using 50% of commercial bank reserves to do this and in the process they do not touch one part of their reserves....they have also approved the appointment of a representative from the private banks on the CBI board....this would be move number one of the three they stated earlier.
Citizen's "direction Press": the House of Representatives is determined to approve many of the Laws, including the Federal Court and the law of parties
The Citizens bloc is saying that many laws will be approved in the coming session of Parliament.....everyone is saying this....a cohesiveness from Parliament about what they see happening in the coming days of their sessions.
Maliki calls to reimpose the ban night in Baghdad!
I believe that Maliki is attempting to stir the pot of hate and discontent in any way that he believes will work on his behalf....now stating that the lifting of the nightly curfews in Baghdad was a mistake and the ban should be put back in place.....he attempts to prey on the sympathies of the people in this action....on their security....but who is really listening to him any more.
Parliamentary Finance for "direction Press": the application of the customs tariff does not affect the effect of direct citizen
Members of the Finance Committee believe that the coming tariffs as spelled out in the 2015 budget will not directly impact the Iraqi citizens because they will not be touching the "necessities of life"......they continue to see this effort as another means to reduce the budget deficit....it will be implemented after the budget becomes enforceable....when President Masum signs it and it appears in the Gazette.
Justice and Accountability: $ 36 billion value of the property of the former regime in 3 states
Properties of the former regime believed to be in France, Britain, and Lebanon total worth being $36 billion dollars is being scheduled for retrieval by the treasury of Iraq.......they also believe there is billions in properties in Switzerland and Greece....recovery efforts started as early as 2012.
Vice-Abadi: the success of the government calculated for all and the ball is now in the court of Parliament
Deputy Prime Minister is saying that the government has been successful in their efforts towards political reform and security efforts and now the ball resides with Parliament.....they must look beyond past differences and realize that the time of arm twisting is over and that they are capable of acting harmoniously as a body....something they have proven recently and need to continue to build upon.
Araji: for everyone to benefit from the mistakes of the past and move away from the policy of arm-twisting
The government has made great headway in the writing of reforms but now it is the time for Parliament to take equal action and get beyond the former arm-twisting antics of the past government and work in unity to keep these reform efforts moving forward....further effort requires that everyone be onboard to the needed and required efforts that will continue to foster a strong backbone to help these reform efforts stand strong.
Industry: give us orders, regardless of our companies and banks salaries confirms that it does not have the liquidity
Banks in Iraq are apologizing to private companies.....they simply lack the liquidity to be able to provide these companies with money for salaries.....this has led to demonstrations by employees of the Ministry of Industry over the past week....conditions in Iraq....economic conditions are part of the issues at hand...but some of it stems back to the former regime.
Finders’ keepers, losers’ weepers
As the Kurds retake control of areas once held by ISIS they are working hard to retain these areas especially those that were once theirs to start with.....they don't see this as a land grab....but as I mentioned a retaking of what was formerly theirs.....they are getting a good deal of help and assistance in this work at this time from the International Coalition forces and from individuals around the world coming to their aid.
Consultant Abadi: Iraq's economy sprinted towards global markets
Dr. Saleh talks about Iraq's economic strategies transforming their Iraqi economy into the world economy......I ASK HOW CAN THEY SPRINGBOARD INTO THE WORLD ECONOMY ON A PROGRAM RATE......IMO....IT CAN'T HAPPEN....watch what takes place...watch what transpires in 2 DAYS......a game changing event I would dare say.......the BEST is yet to come.
Economist: lack of confidence in the national economy behind the decline in the dinar exchange rate
So now some claim the economy on the decline of the IQD against the dollar in the exchange rate "bubble"....still they refer to this bubble as the problem....the CBI is to hold seminars to alleviate the decline in the exchange rate....hmmmm....get back to us on how well that works for you.....just saying.
A senior employee of the Parliament cause disable send the budget to the presidency despite 10 days after the approval
Now there is talk that Speaker Jubouri held up sending the budget to President Masum for 10 days....how interesting....one has to wonder is this delay working into what PM Abadi has been planning.
Parliamentary Finance: the next few hours will witness the presidential endorsement of the budget
A member of the Finance Committee is saying that in the coming hours President Masum will be signing the 2015 budget...in essence authenticating the budget.
Going to end things here for the time being.....be ever so watchful for what they do....especially the CBI in the coming hours and days.....and also watch PM Abadi.....I think he will be speaking again in Dubai....what will he say this time. Aloha Randy