aggiedad77 » June 22nd, 2015,
Monday News Summaries and Commentaries
Note the amount of activity within Iraq today and Ramadan is in full swing.....good things happening.....don't forget about the Monday Night CC either....see you there.
Accord calls for an international supervisory institutions mandated to oversee the criminal dollar market funds and checking Iraq
Action yet again from the Finance Committee it appears to me, creating what they call an international supervisory accord to look into potential or alleged criminal wrongdoing with the Iraqi currency exchange or auctions that has been taking place since 2003/04.....
Once again, what purpose does the Integrity Commission serve, isn't it their job to look into such matters...why oh why does the Fin Comm feel so compelled to dance to their own tune...and so off-key in the first place....is it that they perhaps have something themselves to hide so they feel if they put the investigative team together they can keep the heat of themselves...because that is where it surely belongs..
I fail to see the logic that the Fin Comm refuses to give credit to the CBI for the work they have accomplished over the past 10 or so years, keeping inflation at bay has been a monumental thing and until recent meddling by the Fin Comm the CBI has done a remarkable job in working on the economy as well, in the face of a very corrupt government for the prior 8 years under Maliki.
Source: banking companies back to the currency auction after the end of her sentence deprivation
A number of Iraqi banks reentered the currency auction today after their time out had expired....they will be watched closely and supervised to assure they break no laws in their manner of managing auction activities.
Are you going to do economic police?
At long last it appears that someone is looking at the currency auctions in a manner that is realistic.....not accusing the CBI of wrongdoing but recognizing that any issues with money laundering and corruption are almost assuredly occurring outside of the influence the CBI has, in other words the street market....go after the black market thugs and bind them up tight and the issue goes away....
as we watch the exchange rate continues to normalize once again, thanks to the most recent efforts of the CBI and ignoring the $75 million dollar per day cap of Article 50.....good is to come of this....probably not making the Finance Committee happy campers though as a result. Spend the time going after the low-life street vendors who have manipulated things....but look into their backers....makes me wonder if they perhaps have some political connections with a certain committee.
Allawi attacking Keywords: Get out of the central bank "basket quotas odious"
I am not sure where Allawi might be headed here, but if he's in favor of attacking the black market that has affected the supply and demand of things regarding the CBI auctions....then full speed ahead.....if he's trying to bark at the CBI for wrongdoing then he appears to fall into another camp that is not a close ally to PM Abadi.....
There does need to be an investigation into much of what has been going on in the auction process, but as I've repeatedly stated it appears to me that most if not all of that investigation should fall outside of the realm of the CBI....they have done their job rather effectively for the past 10 plus years....look into what has transpired over the past 6 months to a year, mostly from Parliament and dig into the basis of their actions and determine why they have done what they did with the 2015 budget....makes no sense....the ones behind this are no friend of the Iraqi citizen.
Finance Committee: Iraqi reserves approaching $ 80 billion and not financed by the central budget
Sorry but reading articles from the Finance Committee to me is like listening to the little boy who cried wolf....it now gets to a point of belief...their lips are moving but who listens to them any more.....this committee is so totally blind to the damage it has caused the currency, the citizens of Iraq, and Iraq as a country it is pathetic.....they are paid politicians that are trying to run their country into the ground.....the Committee claims the CBI reserves are now standing around $80 billion dollars.....I'm not sure whether to believe them or not....what does the CBI say about their reserves...that is the true response we wish to hear from at this point in time.
Travel bans contributed to the arrest of those involved embezzlement crimes
Sorry sir....sorry madam....your visas for travel are no longer valid, you may spend your vacation in Ramadi if you like, or perhaps Mosul....but not outside the country....oh wait, I see we already have a reservation for you with a room, I mean a cell designated with your name on it, step this way to speak to the Supreme Judicial Council who have all your arrangements made....you can try to run, but you cannot hide....step up and fess up to your crimes and get ready to the do the time.
Oil: high amount of revenue the month of May (5447), a million dollars is unprecedented rates
May saw oil exports at the level of 97.5 million barrels with a revenue generated of almost $5.5 billion dollars from the exports.....this is all based on an average sales price of $55.87 per barrel for the month.....not quite at the breakeven point for the budget of $56 but ever so close for sure.
Economist: central bank action on dollar restored stability to the Iraqi market
Economists are pointing to a recovery within the currency auction as the efforts by the CBI continue to restore balance to the supply and demand of the currency.
Diyala public get international quality certificate "ISO"
Big news for the Diyala province electrical industries, these certificates are not that easy to obtain or earn, so kudos being expressed to them.
Political source / scales News /: Maliki staying .. and infallible and Abadi did not agree to his deportation
Unnamed news sources, so IMO.....reliability issues exist here....but looks like Maliki could be on his way out as VP for Iraq....hopefully he won't be deported...but will be made to stand trial for his many grievous wrongdoings during his tenure as PM of Iraq.
Follow-up Committee of the government program looking to adopt standards projects
This is positive, forward thinking kind of processing for the 2016 budget IMO....trying to adopt standards that will apply to projects for 2016....developing criteria and prioritizing things for all projects....good work if it can be carried through.
Parliamentary Finance: We have taken several measures to ensure the stability of the dollar exchange rate
Someone quick catch as I faint....the Finance Committee may actually be doing something worthwhile.....looking to edit the Money Laundering Act....to be forwarded to the COM and then back to Parliament to be voted upon....seems that maybe PM Abadi has forced their hand insisting that currency manipulators be dealt with an iron fist and his expectations would be that the Fin Comm get this ball rolling.....I am sure that he is well aware of their position on things and he watches their every move very closely to monitor where they are headed in the scheme of things....Abadi is no one's fool and he will not be played by some underling committee from Parliament.
The dollar continues to decline in the Kurdistan markets
This be good news.....from a high two weeks ago of 142,000 to now at 127,000....the exchange rate is returning to favorable levels....no thanks whatsoever to the Finance Committee....great kudos to the CBI.
IRAQ: Secretariat of the Council of Ministers looking reality of border crossings
The COM in a meeting with the Ministry of Interior are looking closely at activities associated with all border crossings, both by land, air, and sea.....for the month of April 2015 Iraq saw revenues from imports hitting 16.8 million dinars....security at these border checkpoints remains a concern....they continually are looking for ways to better manage their border process.
IRAQ: Jubouri Araji: We have agreed to increase coordination between the legislative and executive branches
Parliament Speaker Jubouri met with Deputy PM Araji to discuss how the two branches (legislative and executive) could work on a more coordinated level in the fight against terrorism.
IRAQ: In Baghdad .. trilateral meeting between Iran, Syria and Iraq on combating terrorism
Sounds like an upcoming meeting is being planned between Iran, Syria, and Iraq, but at this point much of the planning for the meeting rests in the hands of the Iranians....little to no mention of Iraq's involvement at this point in time.
IRAQ: The launch of a Ministry of Water Resources retroactive salaries
Sounds like the Ministry of Water Resources has found some funds and has intentions of paying employee salaries retroactive back to the first of the year....wooohooo.....that would be good news.
IRAQ: Parliamentary Energy warns the government of mortgage Basra oil reserves as sovereign wealth for future generations
It sounds like the province of Basra is not going to sit back and allow the Baghdad government to have total control and say over how its oil revenues may be used to pay debt for the country or any payment in advance program....the Basra government wants a definite hand in how their oil reserves will be utilized going forward, they are saying enough is enough based on prior years of corruption within the government on what has happened to their revenue funds.
IRAQ: A memorandum of understanding for the establishment of airport and refinery Babylon
An MOU has been signed by the Babylon province to start a feasibility study and design of strategic projects that would encompass the construction of an airport and a new refinery with in the province....this will also address the rebuilding of a tourist industry as well.
Financial Kurdistan begin distributing salaries to employees
The Kurds announced they started to distribute funds to employees yesterday that should make many happy.
Tomorrow .. hold an economic seminar to launch a national loan project
Led by the governor of the CBI....watch for the launching of an economic seminar tomorrow that will lead to loan projects throughout Iraq aimed at small and medium projects within Iraq.
Calling for a break, enjoy what good news we have seen thus far today.