aggiedad77 » January 24th, 2015, 10:28 am
Saturday News Summaries and Commentaries
Good morning Family, some news is surfacing regarding the budget....perhaps looking for a vote later this week.....the current crisis within Iraq is not believed to have long lasting affects on their economic resources provided they are developed properly.....
Dr. Saleh speaks out again regarding economic stability brought about through a marriage of public and private sectors and interests.....we see the further desire to distance the state government from local work and issues within the provinces...this can only be good news in my book.
Finalization of the initial draft of the Central Bank and the legal amendment banks
The Economic Committee reports completion of the draft amendment that will have impact on both the Central Bank and private banks that dates back to 2004.....it is stated that this draft amendment will work in conjunction with the Investment Law in support of the Iraqi economic situation as well as allowing more opportunities to address the current financial situation within Iraq.....
This amendment will assist the agricultural and industrial sectors by bringing forth more loans to business people and encouraging the further opening of private banks to assist with the process.....also working in tandem with the Banking Act and the Investment Law this amendment will bring about a boost to the economy....
I believe this to be a well-orchestrated effort on the part of the government.
Rafidain Bank supports smart card regardless of pensions in Abu Dhabi
The Rafidain Bank is supportive of using the new smart card in the UAE for Iraqis retired there....this will make payments to them for their salaries much easier and much less risky than having to deal with cash....the COM is pushing for this kind of measure in all areas possible for the improved safety and protection of Iraqis....at the same time it improves bank liquidity and expands credit capabilities.
Abadi and World Bank President discuss efforts in restructuring the Iraqi economy
Further confirmation of the discussion between PM Abadi and the leader of the WB yesterday with the WB showing full support for Iraq's efforts regarding fighting terrorist activities while at the same time working to right their economic issues.
Parliament to raise its seventh day after Monday
Basically it sounds like Parliament got some work done today, but has also passed or postponed some work, including a vote on the budget until Monday.
Consultant Abadi reveals near the issuance of important economic laws revive the market and investment
Dr. Saleh continues to talk encouragingly about the marrying of the private and public sector efforts as they continue with their work to reestablish their economic stability....thus leading them into a strong market-oriented economy....this will come about through the continued focus upon development of commodity sectors and promotion of production within Iraq....PM Abadi spoke in Davos of shifting control from the government to more within the hands of the people at the local levels promoting more privatization of economic restructuring for Iraq.
Babylon Trade warns of financial crisis and lack of liquidity
The Babylon Chamber of Commerce points to the current financial crisis and the ongoing lack of liquidity as being real problems for the stimulation of projects within the province....they are calling for the government to stem the flow of imports giving Iraqis the opportunity to provide for themselves...
They place the blame not on the current government but the failure of the previous government to produce a working budget for 2014 as the issue....I think they see the current government as being the saving force in the near term.
Work: retrieval of more than 58 billion dinars from the squatters on the subsidy of social protection
The Ministry of Labor and Social Affairs has recovered more than 58 billion dinars found within corrupt efforts associated with some form of social protection....more payoffs of graft for people who probably didn't exist between 2010 and 2014....PM Abadi continues this crusade against corruption and continues to show winning efforts and results.
Iraq's economy will not collapse and will exceed the financial crisis both locally and internationally
Long article that starts out talking specifically of Iraq then trails off with talk on the global level markets....from Iraq's stand point this economic expert believes that Iraq does not lack in economic resources...especially over time....they definitely must overcome the short term economic issues they face....but the current crisis will not or should not cause a collapse in the Iraqi economy...
It is recognized that Iraq has many resources within its borders but it must learn to effectively manage those resources to grow as a world leader....it appears to me that for once economists and the government officials in power to do something about change are finally talking on the same page for Iraq.
Baroness Nicholson meets with Iraqi PM
These two discussed trade and industry relations between Iraq and Britian....there seems to be a great amount of "phoo-phoo" talk and rhetoric that makes me wonder if some other agenda was being veiled here as well.....one never knows until something surfaces later that sparks a memory...oh yes there was "that meeting".....just working the mind outside the box here....in honesty it is good to see these two getting together and showing support for the efforts of the Baroness and her far reaching work within many areas of Iraq at the present time.
Finance Committee confirms the possibility of adoption of the budget during the current week
A member of the Finance Committee spoke and has related that the committee is ready to push the budget for 2015 back to Speaker of Parliament for a vote probably later this week....will that be on Monday....remains to be see at this point....he spoke regarding the Kurd 17% of the budget and says it remains intact that this time....and the Peshmerga will be paid as part of the Iraqi ground forces allocations....meaning I believe they will receive payment just as other Iraqi armed forces are paid.
Well there is enough to wet your whistle for a while....hope you enjoy and continue to feel the excitement....it is there. Aloha Randy