aggiedad77 » April 11th, 2015, 10:35 am •
Saturday News Summaries and Commentaries
Good Saturday to each of you, the news day is starting out a tad bit slow perhaps....we shall see how things progress through the day....enjoy your weekend.
A new plan in the distribution of salaries
The Rafidain Bank is stepping up their A-game and making smart cards available to bank customers for distribution of salaries now for the first time....they do this in conjunction with the World Bank....change in patterns....change in patterns...hmmm.
Araji emphasizes the importance of the presence of discreet oil companies in Iraq
One of the deputy PM's spoke with the CEO of BP for the ME talking about BP's role in Iraq and the ME....discussing the government's plans to increase production and the need of cooperation from the oil companies in the country to make this happen.....the BP rep spoke of their accomplishments in Iraq since the 2009 licensing round that gave them the authority to produce the Rumaila field.....I think this was a cooperative effort on the government's part that will be shared with each of the major oil company players in Iraq to assure their cooperation towards the increase in production for the remainder of 2015.....a solid effort which will help with the deficit in the end.
Frankincense: Visit references to Najaf-Abadi message of reassurance Street
Frank26who......PM Abadi took time to visit Najaf and several of the biggest religious entities within Iraq.....the religious authority al-Sistani as well as the cleric al-Fayad and religious authorities al-Najafi and al-Hakim....hoping this meeting would send forth a positive message to the Iraqi streets and to all political blocs showing that the PM had won the support of these religious authorties....it appears that Abadi has this support in a much greater way than his predecessor ever had it.
Abadi order sending weapons to Inbar
PM Abadi is bringing large numbers of weapons into Anbar for what has to be a push against DAASH in that province....these weapons and ammo are going to the security forces in place as well as to tribal leaders....I mentioned a dual front in the coming days for Iraq....it appears we may be seeing the emergence of such actions.
Security forces controlled the entire perimeter of the Baiji refinery
I believe the second largest refinery in Iraq is about to be liberated of DAASH control....the Iraqi Security Forces apparently own the perimeter of the refinery after a fierce battle with the terrorists....squeeze them out.
Kurdistan Parliament included a draft constitution the provincial law at its next meeting
The Kurd government is working on a draft of their constitution that may be presented as early as Monday....from what I have read a good portion of this draft is concerning the consecutive terms of the President.....some are trying to limit it to two terms and push Barzani out....this draft would formalize that process I believe.
More than a billion dollars Iran to export Iraq through Mehran international border crossing
The Iranians have shipped over 2 million tons of product into Iraq worth in excess of $1 billion dollars in the last year.....a year that ended in March....did you catch that Z....the year ended in March...does that play into you calendar equations.....this is a rise of 42% over the previous period.
The operating budget deficit for the past three months amounted to $ 700 million
Sure oil revenues brought in some $3 billion dollars for the first three months of 2015....however expenses were $3.7 billion dollars so they had a deficit of $700 million dollars....a continued decline in oil prices will make it extremely difficult to meet employee salaries as they go forward.....am not sure that increases in production for them will be the complete answer either....they must find other ways to generate additional revenue.
Parliamentary Finance proposes to make large cash categories
I am in firm belief that many members of the Finance Committee either don't understand the workings of the CBI...the central bank process in general or they are just too insecure to allow the bank to perform its business and feel they must muddle into the bank's business....this is yet another clear attempt by the government to tell the CBI how to run their business.....
But they couch what they say with the thought process.....this is just a "proposal" we put to the CBI...the final decision is theirs to make....the CBI fully understands what is needed to protect Iraq from inflation....they have successfully provided that protection for 10 plus years.....one of the things that has been well maintained since the fall of Saddam. Keep the politicians out of the banks business could be the best thing accomplished for Iraq right now.
Formation of a committee to issue coins of 50 categories and 100 dinars pave the way for the abolition of zeros
Studies.....nothing is set in stone to head this direction....and unless they have secretly been headed in this direction for a few years...this won't happen overnight....now the deletion of 000's that is a horse of another color and could happen with the push of the "easy" button....just need the "Make it So" order.
Parliamentary Finance: There are a number of measures taken by the government about the high dollar
We are seeing a constant flow of Finance Committee members before any microphone or reporter they can find and all are giving their 2 cents of an opinion as to why the dollar continues to rise against the IQD.....now it is due to the occupation of DAASH in Iraq.....and to save things they need cooperation from neighboring countries and a reduction of imports while investors should be welcomed with open arms....the very things that they have been talking about for months....are these Finance Committee members so naive to think that their words don't sound redundant to many.....come forth with something new...what are you being paid to do.
Fears of reducing employees' salaries as a result of the lack of liquidity
Financial liquidity is becoming such a fierce problem for the Iraqi government they are considering a reduction of salaries for government employees in coming months...this is largely due to the issues associated with continued low oil prices....and increased production is not expected to be the save all for them either.
Parliamentary Services: budget obstacle to the implementation of special projects outlets border
It would appear that with the delays of parts of the budget as we have previously heard, there has been some delay in projects that surround the Iraqi borders...and since it has to do with border crossings it makes me wonder if it is actually issues with the customs area and how goods are being taxed or tariffs applied on imports coming into the country.
Parliamentary Finance constitute a small committee to follow up the money laundering operations
Overly cautious that I am....I cannot help but wonder why the Finance Committee has not turned these suspicions of money laundering operations over to the Integrity Commission....why feel compelled to form your own sub-committee to deal with this when you have a high powered Commission who handles this kind of thing on an every day basis....this fish is beginning to stink....and once it goes from smelly to stinky it gets increasingly more difficult to wash your hands of it....beware Finance Committee members of that fact.
To stop the decline of the dinar ... the central government allowed banks to open outlets to sell the dollar
Let the CBI do its business and take care of business...given time and the authority they can and should be able to repair the damage done to the IQD by the USD....actually damage that has been done by speculators and black market servants....in addition to members of the Finance Committee who tend to meddle where they have no expertise or authority...but then you should know my passion on this by now.
Karbala launches smart card for the displaced
The Karbala province has launched smart cards for the displaced families and citizens located there...amounting to some 400,000 dinars per family per month....they have opened five centers to distribute the new cards.
Abadi in Washington next Monday
Monday travel itinerary for PM Abadi....in route to Washington....for a first time visit to the US since he was elected.....and perhaps a visit with President obama.....as well as other key elements of the world.....likely the IMF will be high on his list to visit with....will be watching this closely of course as it rolls forward.
Abadi: al-Maliki in the stage of political death!
PM Abadi speaks of Maliki's death march....saying that his position as VP will likely be his last....apparently while visiting the religious clerics in Najafi he got the message loud and clear that he is to steer clear of any any political map that would include Maliki in the future for purposes of keeping political corruption out of the government....they know of his dirty deeds and did not stand for them while he was PM nor would they tolerate them in the future....this all led to an embarrassing moment for Maliki at a recent Dawa Party function where he was not allowed to speak....yet for the moment he remains the Secretary General of the party....but for how long is up for grabs right now.....his days are numbered it would seem.
Parliamentary Finance Committee: information that talk about the salaries of staff reduction unfounded
So here we have a contradiction even within the Finance Committee all on the same day....so some believe there will be no reduction in salaries....they claim this was told to them by the COM that it would not happen....maybe so....but also just as keenly a maybe is that facts can change.....circumstances can change and evolve as measures become required to be taken to stop the bleeding.....what was said even a few weeks ago can be retracted because of how finances have been managed and when the bottom line is tallied new austere measures may become necessary.....during difficult times like these....learn one thing....never say never.
Tariq al-Hashemi to Establish New Political Party
Interesting news for the day.....al-Hashemi is attempting to establish a new Sunni party within the Kurdistan region stating that many Sunnis no longer can follow the governor of Nineveh or the current VP al-Nujayfi....he was the former Speaker of Parliament and basically got nothing done.....al-Hashemi has recently spoken out against PM Abadi...he is the one who was accused of having terrorist ties by Maliki and was exiled to Turkey...he has hired attorneys to help overcome these accusations to pave the way for his return.
Coffee break and bathroom break time Family......flex your legs and fingers for a while.....breathe deeply and grab some of that good spring air that is about us today.....happy to share with you this morning. Aloha Randy