aggiedad77 » February 1st, 2015, 11:30 am
Sunday News Summaries and Commentaries
Well pulled some things from last night, added a few to the mixture that showed up through the night...and capped it off with some fresh stuff from this morning.....enjoy what you find here....and know....the BEST is yet to come....keep your eyes peeled....what we seek can't be that far off.
Citizen mass Council Babylon considered launching a real budget victory for democracy and the Iraq
The Council of Babylon considers the passing of the 2015 budget as a great victory for democracy and the Iraqi economy.....they see a renewed push now for a number of idled projects within the province.
The drafting committee for the National Guard and law meet to agree on an "important and numerous" materials which
Good news the drafting committee responsible for the National Guard Law has met for a second time and recognizes that some of their work entails in-depth discussions requiring them to meet yet again on Monday, upon which time they believe they will have a draft of the law in sufficient format to present to the COM.....
A good start towards allowing the locals to implement their own respective protection so as to not have to rely on the state run Army.....this makes their efforts much more personal and should be good for all who reside, work, or invest in the various provinces.
The World Bank is expected to improve the economic situation of Iraq over the next few stage
The World Bank sees improvement within Iraq in how they are dealing with issues surrounding investments....at the same time the WB is working with the Iraqis towards the provision of better services in the areas of electricity, water, roads and services....three provinces will be receiving extra help from the WB regarding their investment management program.....all of this is hopeful to provide the needed assistance that PM Abadi has previously called for to improve the private sector investment opportunities within Iraq....we shall be watching what leads up to March.
Abadi Office: move a government representative to approve oil and gas law
PM Abadi lets Iraqis know the COM is pushing a number of laws towards Parliament and one of those happens to be the oil and gas law....woot...woot....he is serious about these laws working their way through Parliament in an expeditious manner and is assigning a member of the COM to ride shotgun over them....especially the oil and gas law...serious business here....let the good times continue to roll.
Central Bank agrees to cover bank accounts
On Sunday the CBI has made a decision to cover accounts held outside of Iraq with the USD....yes the USD....by taking this action they will not be forced under any ceiling window for selling currency at the CBI...this is to protect imports of customers as well as for other purposes.....their intention is to make these processes simple as well as transparent....good idea there I would say....an appointment has also been approved to the CBI for a representative from the private banks...and they seek to speed up the approval process of the Deposit Insurance Law.
Rafidain Bank announces the release of a smart card....MasterCard within its branches in Jordan, Lebanon, and the UAE.
While the government is busy dealing with DAASH and low oil prices....and economic supplement is sought to renew efforts that seek resolution outside of the oil and gas arena....ie....Iraq's other business sectors that need to step up to the plate and start pulling more of their own weight in the scheme of things.....helping to take some of the weight and heat off the oil and gas boys who have borne much responsibility for the past 10-12 years.....
Spread the wealth is another way of putting it.....I call it a breath of fresh air that will bring recognition to various parts of Iraq that have long gone unnoticed in the past....yes oil is king and always will be....but within this country lies a vast array of other resources that largely remain untapped.....now begets the time to open up the uncharted territories and bring to the surface other gems and nuggets that can help Iraq turn the corner with their economy and lead them into a new position with the world.
World Bank: Economic situation in Iraq is getting better soon
Despite falling oil prices the World Bank sees Iraq emerging from their current economic situation and standing more firmly than before on their own two feet....the WB is prepared to offer assistance in helping with financial and economic crisis as they continue to stress the need for the government to effectively manage their budget deficit.....
The WB is pushing for a restructuring of the economy and further development within the private sector.....it would seem that the WB is poised and ready to provide Iraq exactly what they see and believe is necessary to wade through the current situation and move forward in the days and weeks to come.
2015 budget raises investor confidence the economy
Rapid passage of the budget for 2015.....continued emphasis on unity....the Iraqi government is showing that it has the right stuff in which to perform the necessary tasks to bring about change for the state of Iraq and for the Iraqi people as well....now they point their sights on the private sectors....the sectors that do not lean upon oil and gas in order to build them up and refocus their importance to Iraq as a whole....
Dr. Saleh has said that the swift passage of the budget will lead to an improvement in the economy as well as raise investor confidence within Iraq.....projects will start to move again....jobs will once again be on the upswing as these projects get under way and people will be able to spend again because money will flow into their pockets....time is on our side.....change is in the wind.
Planning to adopt economic and administrative reforms
The Ministry of Planning will be bringing forth recommendations of economic and administrative reforms to the COM by mid-February.....watch for the 12th...and I don't mean the 12th man of the Seahawks....which by the way they stole the idea from the Fighting Texas Aggies, who had long before the Seahawks were the gleam in some eye, hatched the idea of the 12th man tradition....something that stands strong in Aggieland...literally....
Oops I wander......look for a package of economic laws to be introduced by the Ministry of Planning once we see the Budget for 2015 printed in the Gazette.....seems they want the bowtie on things before they move forward....as the budget will provide instructions for the Ministry of Planning....magical things imbedded within the budget....need I say more.
General Secretariat of the Council of Ministers will host Governor of the Central Bank
So the COM invites the CBI governor to meet with them today.....odd you might say....the COM meets on Tuesdays.....but they have the capability and capacity to meet at other times we know....they have done this in the past.....usually means that something is up.....
Let's talk turkey....well ok let's talk about what the budget did to your house...the rules in place...how will those be dealt with....but let's also have a Frank discussion about things you, the CBI are talking about implementing that will help with the budget issues....the economic issues....the financial issues of Iraq.....and don't forget we have things which we need to do to educate the citizens.....
New ways of doing business and we want to lean on you for that education process in addition to the good things you say you can do for the deficit....encourage the smart cards....encourage electronic banking for the citizens of Iraq.....but don't forget what you will do for the government as well....remember in our Frank discussions we are one GOICBI....unity in our efforts going forward.
MP: Savings Act will apply soon
The Savings Act imbedded within the new budget is claimed to create a savings of 2 trillion dinars in this forced savings arrangement with state employees...that is quite a bit of bologna.....from what the COM is saying...this will impact managers and above.....get those pockets open and empty them as you pass into your office....the law will not be enforced within the military.
Commission on oil and energy: the oil agreement between Baghdad and Erbil entered into force
The "oil" agreement between Erbil and Baghdad stands in place....but now they need to step back up to the plate and look into the money that is being wasted into the atmosphere...the natural gas and create a similar agreement that will be attractive to the big oil companies....drawing them further into Iraq for different reasons....tapping of this largely unused natural resource...yes Iraq has gas....lots of it.....varying degrees of purity of course....same as the rest of the world....but when oil was $110 a barrel who cared about gas....now it can and should become a viable commodity that is worthy of the effort by some to pursue.....find a way to make the carrot look more lucrative.
Parliamentary Economy: next week will hold a major economic conference
An economic conference in the making for next week....a quickie it sounds like....let February become known as the month of reforms.....many reforms....wow this sounds more like a "kick-off" meeting for a number of key projects in Iraq.
Ibrahim al-Baghdadi: the completion of the ratification of the budget of the government and parliament
Just going to point this out from this article.....$56 oil in the budget....PM Abadi and his court/government are nobodies fool....they have some very good experts gathered around them....they know what is coming.....Frank has told you what is coming....oil will begin to move in the other direction....in fact has started that move already....the Iraqis knew and held strong to their convictions of their budget being based on an amount higher than current pricing....they are smart enough not to follow the price of oil into the rabbit hole....often times therein lies a wolverine in waiting....not a good bedfellow if you know anything about wolverines...especially in tight places.
Parliamentary Finance likely send a supplemental budget in the event of rising oil prices
Oh how this plays into what I just wrote above....Plan B....what goes down must come back up.....the rule of cycles within the oil industry.....rode that cycle for many years...and know others who rode it long before me.
Economist: approving the budget for the beginning of the start of the reformist government policy
This economist claims the budget is the start of reform....I beg to differ with him...the reform effort I think started when PM Abadi took control of the reins of the Iraqi government.......it has just been infused in the arm with the passing of this budget...
Now watch things take off like a new spaceship to Mars....dominoes will begin to fall soon as fast as the eye can blink....again Frank has talked about this for weeks...these laws were all just sitting in the wings waiting on the passage of the budget....now let's rock and roll through February.
Stopping here for now....enjoy. Aloha Randy