aggiedad77 » February 23rd, 2015, 12:07 pm
Monday News Summaries and Commentaries
Well rolling off a big day yesterday, we watch for the rest of the budget to appear, also looking at the CBI and still not seeing any evidence of auctions on their end of things.....good news...let's jump into what we have for today thus far.
Economic center calls for the central bank to tighten controls on the sale of the dollar and the mechanics of foreign exchange
The head of the Economic Information Center is asking the CBI to further tighten their controls that surround money-laundering and any foreign currency dealings, especially those that might deal with some private banks that are believed to not be following prescribed practices....
The tightening of such controls will also help in preventing funding of terrorist activities....just keep in mind that this group does not control the CBI but can express their opinion of what they see would be helpful to the CBI in their operations.....watch closely what the CBI is saying and doing.
Infallible fine Maliki
President Masum, while in Basra, stated that he took evidence to the Federal Court against VP Maliki....apparently it dates back to 2009....after review the Court fined Maliki in the sum of 10,000 IQD.....not even a pimp on his butt....however, the bigger point to make here is.....how trusting is Masum of his VP Maliki if he will turn him in to the Federal Courts.....is this action only going to grow.....does this stand as a precursor to the idea that Maliki is walking down a one-way street....alone.
Breaking News 2015 Budget law officially implemented
Ok, so even though we have not seen all of the budget yet....they are announcing that it now officially active since it has been published in the Official Gazette.
Government Abadi amended paragraphs oil and gas law and the Kurdistan welcomes
While the Oil and Gas Law has been widely controversial since it was originally drafted back in 2007, there have been little to no progress made with it....that is until PM Abadi and his government got to work with it.....at least some Kurds are now saying that the amendments that PM Abadi has made to the law are being seen and believed as widely accepted....most importantly with the Kurds but also with and for all Iraqi people.....it works with paragraph 111 of the Constitution meant to provide distribution of national wealth to all Iraqi people.....
The Kurds should be getting the green light to export oil in exchange for their stake in the federal government.....this is how the agreement reached in December was received.....now it is believed, as we have seen evidence, the biggest issue the federal government may have is with regard to the payments to be made to the provinces....in light of the drop in oil prices and lack of government liquidity to make such payments.....we also know they are working diligently to bring this to a final resolution that will be agreeable by all parties.
Abadi answer urgent questions about the mop and staff salaries, savings and aid Washington's "Daash"
Abdi spoke about a number of issues,the first concerning the Justice and Accountability Law that is being reviewed in Parliament that bans the Baath Party....Abadi points to a belief that some in the Party who have clung to it since 2003 are now aiding DAASH terrorists....he reiterated again last night that continued support of the Baath Party and any such actions in favor of terrorism will be punishable as criminals against the state.....
Abadi will not stand for anyone supporting terrorism regardless of whether they are in the army or popular crowd....he spoke of loosening of some security measures as has been witnessed in Baghdad with the removal of barricades and opening of streets....yes some security breaches are being noted and dealt with swiftly and sternly when there is justification....as far as the allegations made against US planes dropping weapons and supplies to DAASH groups....
Abadi says as far as his intelligence tells him these are nothing but rumors.....another topic that he spoke of was the issues that exist between the Kurds and Baghdad stating that the Kurds are wishing to take their share based on previous oil prices....and that cannot be, the wealth that is made from the sale of oil must be shared, but it must depend on the current pricing of oil as of the current day....he sure talked on a variety of subjects at one time.
Budget law enters into force after its publication in the Iraqi Gazette
The Ministry of Justice has announced that the 2015 Budget Law has come into force after its publication in the Iraqi Gazette.
Karbala develop a roadmap of economic reform in Iraq with the participation of academics, specialists
Karbala University held an economic symposium focusing on economic reform within Iraq....largely attended by academics and other specialists.....they pointed to the need to find continuous integration between experts, specialists, and the decision-making bodies....the government.....they stated that an investment fund should be established built from oil wealth that contributes to investment reserves that would be used to maintain economic stability during a time of crisis....
They also see a need for the formation of a Supreme Commission on Economic Reform in Iraq....tasked with creating management policies that would integrate companies with direct implementation of public and private projects.....more unity in the overall process, along with improved laws that help foster economic reform at all levels.
Commission to Study the Federal Court Act agree on the display to a vote in the Council of Ministers
The Committee charged with development of the Federal Supreme Court Act announced today their work is complete and they will present their work to the COM for a vote and eventual presentation to Parliament to be read and approved.
Council Baghdad: we will resort to the system of payment on credit after reducing the fiscal budget
The Baghdad Provincial Council stated today that they would be implementing a credit system to pay for projects that are in desperate need of being restarted and completed after they came to a standstill in 2014....they include water, sewer, sanitation, housing, and hospitals....it will be interesting to see how far they get with such a program in place....."I will gladly pay you Tuesday for a hamburger today."
Parliamentary Integrity's "direction Press:" We'll review all the files that were closed in 2014 for corruption cases
The Integrity Commission has announced that it will be reviewing all files that were closed during 2014 that related to corruption cases....this included financial and administrative corruption charges as well as phantom projects that were funded seeking to find where the money went....these folks are being great birddogs after any and all attempts at corruption today and in the past.
Kurdish parliamentarian: Barzani borrowed $ 500 million from Turkey
It is being reported that the Kurd PM Barzani returned recently from Turkey where he received a loan from Turkish officials to be used in partial payment of Kurd employee salaries.
Iaram Sheikh Mohammed, Vice President of the House of Representatives: Our meeting with the Presidency of the Kurdistan Regional Government
The VP of Parliament, who I believe to be a Kurd met with the KRG and Kurdish officials of the federal government to discuss issues and differences between the Kurds and the federal government.....they spoke about the needs of the Iraqi people on a level of frankness and with a general atmosphere of positive intent....they are well aware of current issues and crisis for Iraq due to several serious factors and expressed a willingness to work towards a common goal for all.
Finance Minister appreciated the US Agency for International Development Initiative
Finance Minister Zebari met today with the US Agency for International Development where it was discussed that the agency is ready to provide technical support to Zebari's ministry to develop the work of the ministry and to deal with the issues surrounding the sovereign debt associated with Iraq's banking sector.
Source for "news": a reconciliation meeting outside Iraq between the Sadrists and the Supreme Council and a Sunni jihadist groups
The US Embassy and the UN Mission in Iraq will be leading a meeting, a reconciliation meeting between the Sadrists, the Supreme Council and Sunni jihadist groups.....this meeting appears to be set for Wednesday this week at some predetermined location outside of Iraq.....from what is stated, the audience appears to be quite limited.....will this merely be the forerunner of a national reconciliation effort for all of Iraq's parties and interested entities....watch for more on this as time progresses.
For the first time since his deportation from the prime minister al-Maliki meet Abadi
PM Abadi met with VP Maliki for the first time since Abadi took office....they apparently discussed the government efforts that have been made since Maliki left office, security, and the progress that the military operations have made against terrorism....I'm sure it was a very stiff backed and lackluster kind of meeting.
Zebari discuss with senior government officials, parliamentarians, directors of banks and ways to finance the budget deficit
The Finance Minister met with a number of government officials and heads of banks including the governor of the CBI to brainstorm ideas and ways the federal budget deficit can be financed.....they talked about loan possibilities, some of which I believe have already been reported in the past couple of days...efforts by the CBI as well as the Rasheed and Rafidain Banks to the tune of 11 trillion dollars.
Masum of Basra: We will strive to accelerate the transfer of powers to the provinces and the capital of Basra, Iraq's economic
President Masum travelled to Basra and spoke in the province capital talking about the economy of Iraq and problems being faced today....he pointed to Basra as working to be the economic capital of Iraq....he understands their need to receive petrodollars and committed to speaking to the responsible parties in Baghdad upon his return on behalf of Basra...he also made a commitment to push for acceleration of powers to the provinces.
The Supreme Judicial Council to organize a program of electronic government citizen
The Supreme Judicial Council is working on a system that will provide an electronic format for Iraqi citizens to voice their applications and inquiries with the various government entities, as well as to lodge complaints....further attempts at modernization.
Council of Basra, Baghdad accused disable Law 21 calls infallible to protect
A different source that speaks to President Masum's visit today with Basra, expressing concerns over the lack of petrodollars, the need for more provincial powers, basically an attempt to gain more consistency within the government both at the provincial level and the federal level....with obvious less oversight by the feds.
Parliamentary Legal reveal a draft law defines the controls selection of consultants and the number
The Legal Committee is working on a draft law that would identify and control the numbers of consultants and advisors for various government departments....probably on overload now as it is...this law would also dictate the experience level for various levels of consultants/advisors.
Parliamentary expanded government meeting with the Central Bank to discuss ways to finance the budget deficit
More evidence of this meeting between Finance Minister Zebari and government and banking officials.....Family....I am of the opinion that Finance Minister Zebari may hold in his hand the means to wipe out the budget deficit....this meeting of great minds and managers/governors while it does not convey a great deal of what was actually discussed it points to the idea that these powerful entities know what is needed and have the collective clout to move this mountain of liquidity problems for Iraq....watch them going forward as they do this.
That is enough for now....study and prepare for a great CC tonight with Frank and Teams.