aggiedad77 » June 8th, 2015, 9:00 am
Monday News Summaries and Commentaries
Abadi adviser calls for lowering and raising the dinar dollar sales for the launch of liquidity
Got to give credit where credit is due.....Economic Advisor to PM Abadi, Dr. Saleh, understands what is going on with the IQD exchange rate.....the problems no doubt are partly due to the sharp decline in oil prices over the past year....but on a more recent front the problems grew out of hand when the Finance Committee stuck Article 50 in the 2015 budget....limiting the sales of the CBI on a daily basis...
Things spiraled out of hand from that point forward and have shown no real signs of recovery.....give the CBI back their ability to manage this process....take the restraints away.....which means removing Article 50 from the budget...this will bring about a balance in the currency sales that everyone is looking for.....
It will level out the supply and demand issues that run unchecked at the moment, much more demand than what can be supplied.....Saleh believes this action will also lead to a renewed liquidity for Iraq.....listen to this man Iraq he knows.
More than 370 thousand smart card to displaced families to give them a receipt issuance
The Ministry of Displacement and Migratory has issued more than 370,000 smart cards mostly to displaced families in Iraq....stating that the smart card will assure these families receive the financial grants they are entitled to because of how their lives have been disrupted.
Roudao Kurdish: Baghdad deducted 300 billion dinars from the budget of the region for the month of May
So Baghdad and Erbil continue to play a game of cat and mouse.....the month of May shows that Baghdad will send just 600 billion dinars to Erbil.....shorting them once again their 17% of the budget.....
Erbil is obviously upset about the shortage....after all according to them they have met the 550,000 thousand barrels per day requirement for oil....so where is the money....why shortchange them.....once again Erbil says we will give you the month of June to straighten this out or we take matters into our own hands....although I am not sure Erbil has the strength to do that at the moment....
Just like Baghdad they must fight DAASH in their region....just like Baghdad they continue to experience liquidity issues......so going out on your own might not be the wisest choice for them at this juncture.
Parliamentary Finance calling on the government to support the private sector to provide liquidity
Someone from within the Finance Committee is calling for government support of the private banking sector.....calling for laws that would support the efforts of these banks....well silly goose....one must have a Parliament in session for these laws to be passed....they are currently out on recess....so you must be talking in terms of the next session....
Well that would be a great thing to see Parliament return and actually start to pass some laws that will work in constructive ways to improve the economic crisis within Iraq today......there are several laws that can help in this process and need to be pushed forward....make it so.....you seem to have all this clout to boast about what is wrong and what needs to be done.....well fix it.
White House denies report on Obama's concern of the strong dollar and the currency recovered against the yen
So here it is Monday morning and the "WH arm-chair quarterbacks" are out in force putting new spin to what the media heard the President say yesterday.....well "no that wasn't what he said".....it just happened to be what you think you heard.....listen to us because we have the "facts" at least as we are told to share them....shaking my head.....just like our own State Department can't fathom how Iran would have run up their nuclear stockpile over the past 18 months while the President has been saying we have this under control and no their stockpiles are not increasing.
Abadi participate in the work of the first meeting of the leaders of the (G7)
This very well could have been an Iraqi first, being allowed to participate in a G7 meeting yesterday....there as a guest to speak on terrorism and how Iraq is making progress against DAASH cells that occupy large chunks of their country, but through the help of a reestablished military presence and local militias helping along with air strikes from International Coalition forces Iraq is turning the tide against terrorism but is still very much in need of assistance from the world in this global fight against terrorists
Expert: Iraq does not need loans to the International Monetary and there are those who are trying implicating him
The opinion of one economist thinks that moving forward on tariffs, taxes, and fines is critically important to the economic situation....more so than pursuing a loan from the IMF or World Bank at this time.
After that they described as "risk" .. Central Bank called internal lending and advance the «100 salary bonus»!
The CBI is pumping 1 trillion into the private banks of Iraq and at the same time 5 trillion dinars into the various industry sectors of Iraq in an attempt to stimulate the economy by allowing for small and medium business loans to be made that is believed will help these entrepreneurs land back on their feet after there has been a good deal of time when loans were not available.....it is believed this will "ease" the austerity and liquidity issues that have been witnessed since the first of the year.
President Obama to Discuss ISIS in Meeting With Iraqi Prime Minister at G7 Summit
Some folks come by the ability to be a stateman far more naturally than others it would seem.....PM Abadi basically snubbed by three at the G7 meeting in Germany....but they could have been busy planning the next selfie.....oh to be a fly on the wall when Ababi and Obama meet this morning I'm sure it will be a rather terse conversation.....although Iraq was a special invitee to the summit meeting I guess they were still perceived as being bush league to the "adults" who mainstream the event.
Shortened news summaries this morning due to the forum going down again for the server move. Aloha Randy