(Post by Debbie (The Call Squad))
Transcription by Loves Love (Scott)
3 Days of Rocking News in one call
The Call Squad
August 21, 2011
Patriot, Joey, Vic, Tim, Scott, Steve, Diana, Deb, Pam, Yukon
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Deb reads: Finance Committee meets Iraqi Central Bank Governor
Sunday August 21, 2011
Met Haider Abadi, head of the Finance Committee on Tuesday, 16/8/2011 Mr. Shabibi central bank governor, and also discussed the project to delete the zeros of the Iraqi dinar and the reasons and legal requirements and accounting and procedural preparations conducted by the Central Bank of the process of printing, transporting and distributing the new currency as well as the role of the Finance Committee in support of this project.
For his part, Shabibi that the new currency attributes are difficult to falsify in addition to the fortifications that put the new currency and explained that the project if implemented will enhance the Iraqi dinar exchange rate against foreign currencies.
At the end of the meeting, both sides agreed to hold further meetings to continue discussions on the project.
Deb Comments: This actually took place on the 16th of August and was posted on the Parliament Website today which is pretty exciting. And I think a couple Joey will read will enhance this article.
Joey reads: for the devaluation of the dinar: small traders destroy our monetary policy Central dropped the dinar: small traders destroy our monetary policy
Home News Central News Sunday, August 21, 2011 00:00
Experts: sale of crops increased demand for the dollar .. Experts: sale of crops increased demand for the dollar .. Istanbul, Dubai and accept to buy Iraqi currency Istanbul, Dubai and accept to buy Iraqi currency
BAGHDAD - Nasser Bijari BAGHDAD - Nasser Bijari
He attributed the owners of exchange companies, on Saturday, the devaluation of the dinar against the dollar to rise in the demand for the latter in conjunction with the high prices paid by the government to purchase crops, while attributing the central bank to "rig speculators", stressing that the reserves of cash has proven its efficiency in the exchange rate since six years, and noted that the dinar trusted other countries, which are seeking to buy the largest mass of cash from it.
The exchange rate of the dinar against the dollar, in Baghdad and the provinces, has seen volatile and clear during the past two days, ranging purchase price of the dollar to 1120 dinars / dollars, and the selling price of 1121 and 1123 dinar / dollar, and ranged the purchase price, in the provinces, to 1119 dinars / dollars, and the selling price to 1121 dinars / dollars, according to experts, they said "the world", the dollar registered a rise of three points of its value last week.
Jamal Al Ajili, director of foreign remittances, in an interview with "the world" yesterday, said that "most of the savings of Iraqi citizens are currently in dollars, not Iraqi dinars, which is still a source of concern to him in case of different exchange rates of foreign currencies."
And the reasons for the high value of the dollar against the Iraqi dinar during the past few days, Ajili refers to "high demand for the dollar in the Iraqi market, which began preparing to provide all the needs of the agricultural sector."
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Explains by saying "after the state bought all the local production of crops of wheat, barley, and prices high in support of the segment of farmers, beginning farmers to transfer what is received from the state of the dinar to the dollar and buy cars and harvesters, seeds, and fertilizer and everything it needs."
And confirms Ajili that "this sudden demand will increase the value of the dollar, especially if we know that 80% of the volume sold in the auction the Central Bank is intended for foreign remittances, here becomes the proportion of the remaining 20% is sufficient to meet local market needs."
The price of the dollar on Thursday, in the currency auction run by the Central Bank, about 1170 dinars / dollars and did not specify the purchase price for a lack of offers for sale by the shareholders, while the total size of the amount sold by the bank 188 140 000 dollars.
It is said that the sale price of Alihulat top of the sale price difference of 1183 dinars / USD, ie by addition of 13 dinars per dollar, the Central Bank will also deduct a commission sale directly with the same value, according to an official source at the bank's "world" on Saturday.
And the volume of demand witnessed in the local market on the dollar, explains managing director of banking saying "I got myself a license from the Iraqi banks for the payment of Akiem sale of grain for farmers, and this was to facilitate the functions of banks Rivers and good governance in public areas," he said, adding that "peace alone, more than 10 billion dinars, and a large portion of them asked directly converted to dollars. "
And on the impact of the global financial crisis on the Iraqi economy, says Ajili "Most transactions of the Iraqi market is now with the outside, and are specifically through banks Arab Emirates that are affected on a daily basis any fluctuations in global and reflect on its dealings with Iraq or any other country," he said, adding that "banks GCC always trying to convert the loss of customers, including Iraqis, for example, resorting to raise interest rates or raise the rates of withholding. "
He believed Ajili that lifting the zeros from Iraqi dinar would lead to increased confidence in local currency, explains "After you delete the zeros will drop the phenomenon of trading blocs, the large cash used by Iraqis since the nineties," noting that "some countries have started to deal in Iraqi dinars, during the transformative amounts of both Iran and the UAE , Syria, Jordan and Egypt, asking me the other side as the customer wants to receive Hwalth also dinars, and this means that the dinar is available with large quantities. "
In turn, denied the central bank fears of market transactions, they are not nothing compared to auction the currency, which has kept the selling price fixed for more than six years and is a great achievement, "according to the appearance of Dr. Mohamed Saleh, a senior official in the bank. Suggests the appearance, in an interview with" the world "yesterday that" the Central sought to cover the value of the dinar, and two days before the value of financial cover outside of the local currency of more than $ 57 billion, more than 110% of the money supply Iraqi, "he adds," This is an enhancement of the value of the dinar, "revealing the "the bank to cancel the transfers of many of the outside carried out by banks and companies, money transfer, because of doubts as in paragraph (money laundering)".
He held a senior official at the Central Bank "of Iraqi banks a great responsibility to promote the transactions with suspicion of money laundering," he said, adding, "Everyone knows that the situation in Iraq is still unstable, and for that For all arms cooperation to end this dangerous phenomenon and the protection of the country's security and economy of the country." Regarding the concerns raised by the volatility rate of the dinar against the dollar during the past few days, confirmed the appearance of "Iraq's possession of reserves sufficient to stave off any tricks performed by speculators."
He attributed the volatility of exchange of the dinar to "speculators, and, unfortunately, while refusing their requests, inventing such things speculative exchange rates and others, but things do not deceive us," adding that "some are speculating the market in the month of Ramadan and Eid, the holiday season, they Astervhon Unfortunately, the small traders and this does not means nothing, what concerns us the wholesale market stable. "
And Raising the zeros of the dinar and the restructuring of the currency, said the appearance of the "Central finished fully prepared and referred to the government and the Council of Representatives to discuss it calmly, a project of strategic and long-term, I do not say it will happen tomorrow or after tomorrow, because it projects the reform of management of resources, the currency in Iraq" .
He pointed out that "the restructuring means the issuance of a combination of the different categories of existing categories, and the lifting of the zeroes means that the number of account will be lower, does not affect the value of the currency and transactions of individuals and their income and wealth does not affect the contracts and obligations of individuals contractual and mandatory, arguing that" the total money supply of currency, amounting to about 32 trillion dinars and after the replacement will be less than 30 billion dinars ". http://www.alrafidayn.com/2009-05-26-22-07-53/36105-2011-08-20-21-43-13.html
Joey adds: he’s really saying the same thing that Deb just read, they’re rolling out the lower denoms, it won/t change the value of their currency; variations in their currency, no fear to effect income or their wealth; and it will increase desire for dinar in the marketplace.
Joey reads another that she really likes this weekend: Economist: Central Bank of tools to install the exchange rate raised the rate of inflation study On: Saturday 08/20/2011 13:46
Baghdad (news) .. The economic expert Dargham Muhammad Ali that the causes of rising inflation in recent years caused by the tools used by the Iraqi Central Bank to stabilize the exchange rate with the lifting of the value of the dinar and maintain the stability of the market.
Ali said in a study sent by (of the Agency news) said on Thursday that the causes of rising inflation in recent years caused by the tools used by the Iraqi Central Bank to stabilize the exchange rate of Iraq and raise the value of the dinar and maintain the stability of the market in conjunction with government policies wrong in drawing tracks economic cross-rein inflationary shocks that raised the rates of inflation.
He explained that the rates of inflation growing, in recent months, something attributable to the reasons for non-cash, but for reasons of legislative and legal, by imposing some restrictions of imports and the imposition of customs on imported goods, leading to high rates of annual inflation to (6.5%) during the two months recently.
He added the rise is worrying signal needs to processors shared between the government and the central bank without the need to change interest rates current as at acceptable rates, where the group must be at the exchange rate if Matovrt flexibility to reduce the dollar exchange rate in conjunction with the imminent implementation of the policy to delete the zeros of by the Central Bank.
He noted that making the annual inflation rate ranges during the last year and beginning within the limits of (3 and 4%) which is internationally accepted depending on the dinar exchange rate stable and the relative stability of legislation and income levels.
The expert stressed the economic need to ensure increased support for basic food commodities through the ration card which factors as a whole will lead to the absorption rate of inflation in conjunction with the need to work on improving the country's energy as it adds a cost of local products and basic services, in addition to the need to pressure government expenditures is the basic in the operational side. / End / 12. t. M /
Joey adds: I don’t think it gets any plainer than that (repeats underlined above).
Patriot : All we’re missing is a date and a rate; Yippee
Joey: reads: Warn of the effects of the new currency to be negative and strict procedures
BAGHDAD - morning
The Central Bank of Iraq is heading towards the printing of new currency after deleting three zeros had announced last year, bank expert warned of dire consequences may result from this process in the event of failure to take tough measures to reduce these effects.
It is useful to note that many countries already in Iraq go through such experience and has taken measures capable of maintaining the real value of cash Btabath ancient and modern, while stability of the edition of modern Turkey, Brazil and many countries of the world have experienced deleting three zeros, but managed to limit effects caused by the experience.
The expert said that the bank change the currency by removing three zeros will lead to disastrous effects if the monetary authority has not taken firm action to reduce them.
The executive director of the Association of Iraqi private banks Aziz Hassoun in an interview for (economic morning) that all the international experiences have passed this stage, such as Brazil and Turkiyao other countries, resulting in side effects and affected even the general level of prices towards the ascent, which led to the decline in the purchasing power of the currency.
He stressed the need for the Central Bank of Iraq to take strict measures to strengthen the capacity of the decision to maintain the value of the cash by creating the required balance in the value of cash between the two currencies.
Goldfinch warned of the instability of the exchange rate to act firmly to maintain the exchange rate equilibrium does not prejudice the value of currency in circulation of two currencies, and monitor the behavior of speculators who are trying to exploit the circumstances, as happened with the beginning of the occupation when you change the currency, where excelled others in the field of forging the new currency and the creation of differences between the categories of cash in the discharge and other tricks and manipulation, stressing that the experience was harsh and effects found so far by the launch of the decision to convert without follow-up time.
On the possibility of the banking sector in creating awareness about the value of the required cash said that the banking sector on Bakiem notify customers of their currencies at the time of entry into force of the decision.
He said it is important how to deal ministries and government departments and the private sector to the new situation and carry the responsibility of creating a citizen's confidence in a strong new currency and the new reality, through their actions and dealings with the new publication.
He stressed the need to study the reality of salaries and wages and maintenance of the required balance so as not to reflect the impact on the purchasing power of the citizen in case of a change of currency and without prejudice to acquired rights of staff and workers.
He called the central bank to the need to control the exchange rate effective tool in achieving the required balance and maintain the value The real criticism of the new, stressing the need to address the counterfeiting of currency.
He concluded his speech (economic morning) the need for a CBI ability to perform not only make decisions and the formation of work teams have the ability to address all possible effects of treatment and their pace consistent and sustained follow-up implementation of the resolution and it may accommodate effects caused by the experience of the new edition after the occupation and painful effects that remain even now.
The Iraqi Central Bank has approved a change the old currency after deleting three zeros and make them carry printed in three languages for the purpose of submitting them to the concerned authorities for approval and ratification, without specifying a date for circulation.
Patriot: Boy are they playing it close to the vest, without giving a date and rate.
Joey reads: Shabibi .. Is it enough to replace the Iraqi currency to save it from collapse?
Saturday, August 6, 2011 PM - 6th September 1432 - Issue: 8455
In the past years have fallen Iraqi dinar value due to inflation and deterioration caused by economic sanctions imposed on Iraq after the Kuwait war, through the fall of Baghdad in 2003, to turn into a semi massacres day All these factors made the value of the dinar is going down, prompting the central bank in the same year resort to the adoption of a new mechanism to maintain the dinar's exchange rate lies in the development of an auction foreign exchange to sell quantities of the dollar, resulting from the sale of oil in world markets, and converted to the Development Fund for Iraq, which transforms in turn to the bank to sell in local currency, but it was not enough to save the value of their currency collapse, under the terms of the price fall to become a day about 1120 dinars per dollar.
Thus pushing the Iraqi Central Bank's decision to replace the currency Atkhama by deleting three zeros in an attempt to raise the value of the world.
Has announced Shabibi Iraqi Central Bank Governor completing the preparation of a plan to replace the current banknotes after the cancellation of three zeros, and include 30 trillion dinars (26 billion dollars), is the value of expected cash bloc, stressing that the timing will be determined by the government and parliament, Iraqi.
On the other hand, sees the first in the Central Bank of Iraq the appearance of Mohammed Saleh said that the fundamental problem in the timing of the single currency only, but the application of the new project will be according to mechanisms scalable in the form is not felt by the citizens, are put quantities in the market and the withdrawal of which is maintained by the government banks of the block and replace , and remain only in the possession of the citizens of the trading day, and can conduct his business in the two currencies of any existing and new goods as current price, for example, JD 1000 The customer can give the seller the present paper a class 1000 dinars, as well as be able to give him a coin a new category of one dinar.
In the view of economists that this action is not enough to save the Iraqi dinar from collapse as long as the Iraqi economy is weak currency should always be linked strongly the country's economy, and the best proof of that the United States where the dollar dropped because of debt and faltering economy, and generally coming days will determine, either revalue the Iraqi currency if there is demand for it globally or to depreciate more.
Joey: Whoa, that is a big important article.
Patriot: You just read this will be global value; there goes the myth some have claimed it would be Iraq only, I don’t think so. We will be able to exchange anywhere in the world, not just in Iraq. Cool Article!
Joey: Warka Iraq Are Preparing for Merge With Standard Charter
Source: Dar Al Hayat - 19/08/2011
Announced the «Bank« Warka »near the Iraqi Special integration with« Standard Chartered »British, at the request of the Iraqi Central Bank raising capital all private banks are to have 250 billion Iraqi dinars (200 million dollars) before the end of 2013.
The Executive Director of «Warka» Mohammed al-Samarrai and the existence of an agreement for integration reached its final stages between the two banks, Iraqi and British, giving the first bank's ability to finance major projects.
He stressed that the integration of the bank with a giant foreign corporation will increase the confidence of customers and the government and the Central Bank of Iraq.
The central bank called on the Iraqi private banks to merge with each other, to ensure the composition of large amounts of capital to facilitate the work of financial and enhance the confidence of the citizen.
The source of the «Union of Iraqi banks» of «life» that «private banks refuse to integrate, as family banks, not financial institutions in the true sense.
Every family wants to sit on the throne of a financial institution does not share the second family».
The source explained that the first merger will be agreed between the four private banks, noting that «there is no solution to the integration of these banks only, as it is obliged to submit financial statement to the end of 2013 as the central bank raised its capital to 250 billion Iraqi dinars».
And operating in Iraq six Arab and foreign banks are private «Arab Banking Corporation» Bahrain and «Turkish Agricultural Bank» (aprons) and «Bank Melli Iran» Lebanese banks and «Byblos» and «Intercontinental» and «Beirut and the Arab countries».
The Iraqi financial institutions are seven state banks, five of which specialist cares for the industrial, commercial and housing, and 30 private banks, of which seven are Islamic. http://www.iraqdirectory.com/DisplayNewsAr.aspx%3Fid%3D16570
Joey: Wow, I love the bank articles that help us explain the daily developments of this event proceedings.
Joey: Now Vic and I are going to talk about one, right Vic?
Vic: Yep, we need a Yippee Deb, like only Deb knows how to say…Say it again, Deb!
Vic: Jackson Hole, Wyoming?
Joey reads from an article found on Dinar Daddy: Jackson Hole Economic Policy Symposium
AUGUST 21ST, 2011 07:11 AM · POSTED IN NEWS (IRAQ & WORLD CURRENCY)
The Facts: 2011 Jackson Hole Economic Policy Symposium
The key event in central banking, and certainly the mind of the markets, for this week will be Ben Bernanke’s “Jackson Hole speech” scheduled to take place Friday the 26th of August at 10am ET.
The regular event is where US Federal Reserve Chairman, Ben Bernanke, in 2010 introduced the idea of a second round of quantitative easing (aka QE2). Naturally this has driven a lot of speculation about what he may say this time; certainly if nothing else, it will provide an insight into what the FOMC (Federal Open Market Committee) is thinking about the US economy, and how it is factoring that into its policy making.
Listed below are some of the key facts that have been released on the 2011 symposium so far LINK:
What: Economic Policy Symposium
Where: Jackson Lake Lodge, Jackson Hole, Wyoming, USA
When: Ben Bernanke will speak at 10am ET on Friday the 26th of August (the Symposium runs from 25th-27th of August)
Who is attending: Central Bankers, Finance Ministers, Academics, Financial Market Participants (see 2010 attendance list)
What is the theme: The theme has not been released yet, there will likely be due emphasis on sovereign debt and alternative policy tools
When is the next FOMC meeting: 20 September 2011 (the 9th of August FOMC meeting minutes are scheduled for release on the 30th of August)
The History of Jackson Hole:
“Each year since 1978, the Federal Reserve Bank of Kansas City has sponsored a symposium on an important economic issue facing the U.S. and world economies. Symposium participants include prominent central bankers, finance ministers, academics, and financial market participants from around the world. The participants convene to discuss the economic issues, implications, and policy options pertaining to the symposium topic. The symposium proceedings include papers, commentary, and discussion.”
Joey: This is a huge symposium that is making world news and sounds like a perfect place for us to get Shabibi to sign T-shirts for our souvenir collection. Shabibi will attend this; Bernanke, and many board members and key executives of major Multi-national banks; Federal Reserve Governors and Nations…the list goes on 6 pages of global finance leaders and media.
Vic: Since 1978 the Fed Reserve bank of Kansas City has hosted an annual economic symposium, this is not new, it is a tradition, with the purpose to focus on a topic that is not of present economic concern but is looking at future of emerging issues and trends. With that said, referring back to a chat with Joey earlier.
Vic: Talks about Shabibi’s capacity as one of the top economists in the world, his vast education and going back in history he has been involved in a lot of developments throughout 3 decades of financial history. Back in the 1970s Dr. Kissinger made major inroads with Arab Nations of OPEC; Kissinger was able to negotiate an exchange of our purchases for OPEC oil with their agreement that Arabs would buy US T-Bills and Bonds. We know a lot is coming out of this Jackson Hole symposium. And IMO, though it may not be totally predictable immediately word for word, but all of the sudden, Mrs. Clinton’s recent prediction where she said that Iraq would be a leading economic power within two years, that she said would rival China. We know that China holds the largest amount of USD, 2.7 Trillion Dollars; and also China is the largest owner of our debt bonds. So, IMO, very soon we will see Iraq step to the podium to help the US economy to come back strongly, because Iraq doesn’t believe in the S&P downgrade fears. Iraq’s interest as well as their own credibility will be benefitted to protect the US Economy, and the Petro dollars; and to show the US that they believe in the US dollar, the USA markets and people; as do the GCC and other oil producing nations. I really think that Iraq and the Arab region will be a giver, not just a taker for the US Economy, but participating in the coming stability of the US economy.
Joey adds: FOMC ….Federal Open Market Committtee…is thinking about the US economy and how that factors into this policy making; And when you have the IMF, the OEAC, talking about policies, where do you think they are going with that, Vic?
Vic: I agree, I know where you’re going with that.
Deb: Very soon!
Patriot: It’s amazing how the Global Politics are all weaved together, and how, with the other nations buying T-bills and Fed Reserve notes, and the fact that while the dollar has dropped, it seems the Federal Reserve has found a way to tax China, or reduce the debt we owe them. Of course the US cannot Tax China, an independent nation. But in essence, if they buy a Trillion dollars of our debts on paper and the value of our dollar drops by say, 5%, we just taxed China 5%. This is very interesting way tax other countries, by weakening the dollar against other currencies.
Joey reads a Bond-Lady Post April 16th; from a historic meeting in March when the Emir of Kuwait came to Iraq: ‘Kuwaiti-Iraqi Borders Issue Settled’, Both Nations Agree On Creating Safe Maritime Environment
KUWAIT CITY, April 16, (Agencies): The Kuwaiti-Iraqi borders issue has been settled for good and there will be no further talks in this regard, reports Al-Anba daily quoting diplomatic sources.
Sources said any discussion between the two sides will center on trespassing issues and maintenance of border markers, not the borders because this matter is no longer open for negotiation.
This came in the wake of the statement made by Special Envoy of the United Nations in Iraq Ed Milkert that the Iraqi government may recognize the Kuwaiti borders soon to end the two decades of UN sanctions.
In an interview with Reuters, Milkert confirmed the historic meeting between the foreign ministers of the two countries last month yielded positive results.
Meanwhile, Kuwait and Iraq agreed Saturday to cooperate closely on maritime issues that affect both countries, including implementation of maritime protocols shared by them.
This came out in the 3rd border security meeting held at Umm al-Qasr Naval Base here in Kuwait, where two delegations representing each country, reviewed a gamut of land and maritime border issues.
Heading the Kuwaiti delegation was Interior Ministry Assistant Undersecretary for Border Security Major General Sheikh Muhammad Al-Youssef Al-Sabah, whereas the Iraqi counterpart was headed by Commander of Basra Operations General Muhammad Jawad Huwaidi. http://www.arabtimesonline.com/NewsDetails/tabid/96/smid/414/ArticleID/168039/t/%E2%80%98Kuwaiti-Iraqi-borders-issue-settled%E2%80%99/Default.aspx
Joey compares that Bond-Lady article in April to this from yesterday …for all who say port issue still exists:
Iraq declares solving the crisis with Kuwait
The date of publishing 19/08/2011 07:00 AM
Baghdad (Jawdat kazem): The Iraqi Ministry of Foreign Affairs declared easing the crisis caused by the establishment of the port of mubarak and Kuwait .A source in the Ministry of Foreign Affairs said in a statement to "Al-Hayah", that " technical delegation who visited Kuwait under the chairmanship of the chief adviser to Prime Minister thamir ghadhban, a field trips in the The port of Mubarak held extensive meetings with senior officials in Kuwait to discuss the mechanism for the implementation of The draft port without damage to the interests of Iraq».
He added the source, who refused to reveal his name, that " the negotiations led by Al-Ghadban, minister Foreign Hoshyar Zebari, which resulted in the form of principle to stop at the borders of the third stage Of the project, the requirement to keep the fourth stage subject to approval by Iraq to some guarantees that Requested by Kuwait».
Added: " I believe that the required guarantees deposited by the Kuwaiti government closed a letter handed over Iraqi technical delegation to».
He added that " the negotiations between the two sides and field visits, as well as access to Indigenous engineering design for the project, has shown that the Mubarak will not impede navigation in the Khawr Abdullah." He pointed out that " what has been circulated about the presence of sea, hinders Iraqi Navigation was Incorrect information».
He pointed out that " the information was referring to the port's construction in four phases, but what We were informed by the Kuwaiti side he would be 3 stages, and that the fourth phase it will affect Iraqi navigation».
He said: " Unfortunately, some of the foreign parties that do not appeal to the development of relations with Iraq Kuwait paid towards the escalation of the crisis between the two countries by providing the Iraqi government Wrong information confirms that the project is based on four stages, and that the last slash Large parts of Iraqi waterway connecting may تغلقه in full».
Prime Minister nouri Al-Maliki was declared in a TV interview a few weeks ago, that the state of «" Third informed Iraq information on the port of mubarak, but he did not disclose the name of the state, as did not Says Iraqi Foreign Ministry sources on behalf of.
On the other hand, said the prime minister's advisor Adel البرواري in a statement to "Al-Hayah", «Crisis port Mubarak heads for Detente soon».
He clarified that " technical delegation sent by the government to Kuwait to visit the site of the port, Better to get the results of is in the interest of both countries after the agreement to settle the crisis Through diplomatic channels».
He pointed out that " the Iraqi government is keen on the development of its relations with Kuwait and Pending issues have taken all the roads الديبوماسية to contain crisis port Mubarak alert The brothers in Kuwait to the damages that hit Iraq».
He added: " As the government, did not go so far on the final report of the delegation to visit Technical, but I think that the Iraqi government officials and some prominent figures in Kuwait At this time, contributed to win Kuwaiti to anything of flexibility to solve crisis The port ", in a reference to the visit of the Iraqi List leader Iyad Allawi and President of the council, Supreme Ammar Al-Hakim. http://www.babnews.com/inp/view.asp?ID=43718
Patriot: This is important because Mubarak port is part of Erbil, and we know it had a deadline of June 30th, and the UN said there would be no extension after June 30, 2011. Remember we had the aerial photo. Even one Kuwaiti minister came out and admitted he had no idea where the negative news articles were coming from, regarding the positive and productive developments between both countries. The bilateral arrangements with both countries have been settled all the way back to March. The ports will bolster both countries. Both Iraq and the Kuwaitis intend to take care of each other as brothers. Go download The Iraq Project from our website. This is all very significant and see that the final pages of that report are playing out in this news, and how this is so significant, to read articles of such positive developments on key issues. We really do we are seeing the final stages of the plan executed.
Joey adds: Go back to Currency Newshound and read the various beautiful articles from those historic meetings where they agreed to put the past behind them, and that Melkert commented on how great it was with their cooperation agreements. Both countries want and need this, the Kuwait currency is struggling also, if you go back and study this port progress, there is NO issue between them and they are very positively moving forward to complete this important project.
Patriot: Suggests to go to the website to get The Iraq Project. These are the issues that are at the end of the last chapter. These articles are talking about all the things listed in that step by step plan. Compare this State Dept blueprint to the articles of the Call Squad transcripts the past 2 weeks and you’ll see they are following the plan. These articles were all predicted, by the plan. The giant jigsaw is coming together, nobody knows how many more pieces exist, but the picture is clarifying, and we are optimistic that we are seeing the final days of the plan being executed, though nobody knows the date or rate, we are going in the right direction.
Joey, I love this article: Parliament discusses the strategy to combat poverty and unemployment and the conditions of the displaced 20/08/2011
Recessed to the sixth of next monthBAGHDAD – morning
House of Representatives discussed the program of government planning and private ministries of Displacement and Migration, in particular the strategy to combat poverty and unemployment, while raising its decided until after the Eid al-Fitr.
In the 25th meeting of the Parliament held under the chairmanship of Osama Najafi, President of the Council and attended by 164 deputies, ended the Committee on Agriculture, water and marsh first reading of the bill the second amendment to the law and the Ministry of Water Resources No. 50 of 2008.
According to the reasons for the law (as the Centre’s role to encompass all wetlands in Iraq and all not the global conventions concern the subject of wetlands for the purpose of strengthening the rights of Iraq’s water and of its own wetlands of important economic, environmental and climate at the local, regional and global).
And to Parliament the first reading of the proposed law the First Amendment of the Law No. 20 of 2009 (submitted by the Committee of the martyrs and victims and political prisoners) to not display the proposed law on the Legal Committee.
In the second paragraph, before the Commission on Human Rights report on the progress of the action taken on the selection of members of the UN High Commissioner for Human Rights, where the MP Salim al-Chairman of the Commission on Human Rights to provide 3085 people apply for seats on the Commission, pointing to the existence of specific controls to accept the applicants and the three stages of this process , confirming the exclusion of 611 ahead of their names can be found on the website of the Commission.
He said he will be nominated nearly Advanced percent in the third stage, which lasts for a month and there will be interviews with these applicants to choose 11 members and 2 reserves.
In another matter, he hosted the House of Representatives, Ali Shukri, Minister of Planning to discuss the government program, your ministry, especially the strategy prepared by the Ministry during the next four years in the preparation of development plans for all provinces and prepare strategies to combat poverty and unemployment, as well as building the system and the development of social and economic plans.
Revealing studies on the problems and obstacles that stand in the way of implementation of projects and the preparation of a classification system for contractors. Commenting on the Maardh minister, he wondered, MP Ahmad al-Alwani, Chairman of the economy and investment for a look the ministry of the relationship between the center and the provinces and the Kurdistan region and the possibility of establishing a fund for future generations and increase the financial resources and diversity to support going forward.
As pointed MP Ibrahim Rikabi that control of entering Iraq need to build centers for quality control advanced work to reduce the entry of materials unsuitable for consumption. MP Jassim Mohammed was called to the statement of the effects of lack of a census, asking about the possibility of giving a year.
MP confirmed that Nour Salem ministry’s plan did not observe justice in the distribution of projects between the provinces.
The MP Yousef al-Tai said the government program in this condition, is a narrative construction project and lose the true vision of government which does not amount to a government program.
It also hosted the parliament and the Minister of Displacement and Migration Dindar Dosky to discuss the government program on his ministry, where the minister stressed that the most important priorities of the ministry for the coming years to address the problem of displaced people inside and outside Iraq, and to ensure their return to their areas, and encourage them to return voluntarily, and give all facilities to them, and to address the problem of housing and unemployment for these families.
The minister added that the ministry is monitoring the forcibly displaced during the former regime, and is working to restore their rights and give them privileges and residential lands in the event they decided to return and continue their situation outside the country in the event of non-return.
He also pointed to the attention of the ministry file deportees and competencies outside Iraq as well as for a file of Palestinian refugees and foreigners in Iraq in accordance with international laws.
Between the Minister and the projects implemented by the ministry in a number of provinces in the area of residential complexes, in cooperation with international bodies.
Focused interventions and questions from MPs on the relationship with the ministry set up residential complexes in a number of provinces and their role in distribution to the covered, especially in the province of Karbala and revealed the role of the Ministry in the return of property to their owners, they lost in the previous regime. They also discussed the issue of students returning from Arab universities where the countries of popular revolutions and security tensions and the possibility of returning them to desks in Iraq and the equation of their testimony, as well as the ministry’s plan in the field of investment projects and the time limit to complete, in addition to the projects implemented by the ministry out of the investment plan.
The President of the House of Representatives adjourned until the sixth of next September. According to a copy obtained by the “morning”, the program of the Ministry of Planning for the coming years states: “develop plans and strategies of national development the overall dimensions of the overall Iraqi economy and dimensions of the sectoral, spatial and social development so as to ensure the development of a comprehensive national sustainable” , in addition to developing the general framework of strategies, spatial development at the provincial level so as to ensure to reduce development disparities between them and between urban areas and the main on the other hand, with the creation of a national statistical system efficiently and effectively and efficiently meet all requirements according to the criteria and application of national, regional and international. “
The program also includes “community service through the exercise of measuring and improving the quality of goods and encourage intellectual creativity to ensure the protection and safety of citizens and strengthening the national economy, improve and raise the efficiency of enterprise performance through the development, management development, as well as to pursue the goals of the National Development Plan 2010-2014, and follow-up quality and good implementation of investment projects included in the annual investment programs, including programs of development of the region and through field visits to engineering teams in the Ministry and the planning units in the provinces. “
It also provides for “building a geographical information system integrated land use at the provincial level, and policy-making investment in cooperation with the ministries and departments not associated with the Ministry as well as the provinces which include sectoral programs or spatial and contribute to the evaluation of technical feasibility and economic development projects proposed for inclusion in the budget and as to harmonize the priorities National Development Plan 2010-2014.
Follow up the implementation of contractual plans approved in the ministries and other agencies, will also be reviewed and approved projects funded by donor countries and institutions and follow-up procedures for their implementation. “
The Ministry of Displacement and Migration has achieved during the last term a number of files included on according to a copy obtained by the “morning”, “speed up the percentage of completion of projects and housing units and low cost in the provinces of Maysan, Qadisiyah, Basra, Karbala, Babil, Wasit, Sadr City, and the distribution of grants financial returnees displaced by the displaced and migrants, in addition to the distribution of financial grants to returnees from Libya, 48 and 23 family members and Egypt 73 and 47 family members. “
The Ministry also “the distribution of financial grants to the present in Egypt, 639 family food basket, in addition to the completion of transactions 1531, and a national allocation of land for returning displaced persons and migrants, and the distribution of food aid and non-food items to displaced families and affected, with the establishment of a reception center reviewers and improve the reception centers, as well as the formation of 127 of an investigative committee and habitual and 21 inspection visit and completion of 78 complaints and 5 workshops, awareness of the risks of corruption within the ministry’s efforts to combat corruption. http://www.alsabaah.com/ArticleShow.aspx?ID=12334
Joey comments: This was one of their Get Out Of Jail Free Cards
This is one of the requirement lists to get the UN sanctions removed: Kuwait honor of the borders, repair Port Mubarak, They had to return dead Kuwait bodies, artifacts, according to article 140 return of displaced citizens, the HCL oil sales money had to be distributed to the people, and was a part of that, and this article shows the mentality of Iraq and where they are now relative to the requirements.
Vic: That is unbelievable Joey, that is awesome
Vic: Asks to bring something to the table, sometimes we read something and it connects with a memory.
Vic: Have you ever heard for a company named LG?
Vic: Santa Monica CA is Sister City to Seoul Korea
Vic reads: Baghdad, Aug. 20 (AKnews) – A South Korean firm will build a100,000-unit housing development south of the Iraqi capital says a parliamentary investment committee member, just one of many projects open to South Korean investors.
At the end of a visit to South Korea in April at the head of a large Iraqi economic delegation, Prime Minister Nouri al-Maliki signed a number of contracts in the fields of economy, construction and energy.
A group of Korean firms proposed a large-scale investment project to address Iraq’s shortage of housing by building a total of a million homes, made available on a credit payment system.
Commission member Salman al-Moussawi told AKnews that the 100,000 homes the Hanoua Company from South Korea are building in the capital’s Bismaya district will be sold for $50,000each.
After making a 25% down payment to secure the transaction, “the balance can be paid off in stages,” Moussawi explained.
The South Korean contracts will effectively halve Iraq’s housing crisis calling for two million new homes, a target originally projected to take around 20 years to meet.
Moussawi said that further contracts with South Korea in other sectors are currently being drafted.
“An agreement will be signed soon between South Korean companies and the Iraqi side with regard to energy, and the development of Iraqi ports,” he said.
Vic: I’m just a little guy in CA; Iraq is not sparing any costs. These People are taking care of business.
Joey: So Vic, if I understand, they are doing this housing business with a line of credit, is that what I understand?
Vic: Yes, Ma’am.
Joey asks: How do they do that without being a member nation of the WTO? Because the WTO decides that creditworthiness of all countries, and you have to be able to engage in the Bi-lateral International Relations and the WTO has to declare you creditworthy.
Vic: In the Far East, the credit terms are not the same as here in the US, but look at the major banks coming into Iraq, HCSB, and other international banks; Shabibi wants them to come in with a lot of cash since they want to help the people own their homes, and help them pay them off in stages over time with 25% down, though they don’t have traditional credit guidelines. It’s incredible how the Koreans and Chinese understand what the economic situations will be in Iraq; they know what Iraq is going to be worth in two years, and I hope the US is not too far back in line. We need to get in on that action. That’s my two fils for the day!
Joey reads: Iraqi Finance Ministry estimates 2012 budget at 115 trillion dinars ($98 billion USD) Sulaimaniya, August 21 / August (Rn) –
****The Undersecretary of the Ministry of Finance of Iraq, for his ministry to guess the Iraqi budget for next year’s 115 trillion Iraqi dinars,***** adding that next week**** will see a final decision on the size of the budget next year.*****
According to Fadel, a prophet of the Kurdistan News Agency (Rn), that “next week will see a final decision on the size of the Iraqi budget for next year after meeting the federal financial with their counterparts in government to discuss a budget for 2012,” pointing to “guess the financial budget next year at 115 trillion Iraqi dinars, which means an increase of 19 trillion dinars for the current year budget. “
The Prophet said that “despite speculation the Iraqi budget for next year at 115 trillion dinars, but it is possible to increase the size of the budget when oil prices rise on world markets.”
The Undersecretary of the Ministry of Finance of Iraq Zia Khyoun has stated (Rn), earlier that “his ministry had begun preparing the budget in 2012 and which will be submitted to the prime minister in September next for approval and sent to the House of Representatives for a vote,” noting that “the total amount of the budget not yet clear, but he adopted the selling price of crude oil on the basis of $ 85 per barrel and exports 2.2 million barrels per day of crude oil. “
The Khyoun that “*****the financial mechanisms in place to address the budget deficit in 2012 and which will arise from it fully due to the adoption of the ministry on the mechanisms to prevent expansion of the fiscal deficit.”*****
Iraq relies to finance its budget on crude oil, which is prepared by economists as a risk in the Iraqi economy because of the failure to diversify its sources and development of industrial and commercial sectors and other development.
The House of Representatives passed its session of the thirty-sixth legislative term of the first of the month of February, most of those present (240 deputies), the general federal budget for 2011 of $ 82.6 billion dollars after the Finance Committee presented its report on the budget law. “ http://www.aknews.com/ar/aknews/2/258095/
Joey summarizes: I thought this was very important today. Remember the Kurds would not sign the HCL agreements important to the Erbil Power Sharing agreement until there was an independent, transparent oil committee that answered to the UN so that the Kurdish people would not be unfairly excluded or abused in any way by any type of financial shortchanging, relative to the oil sales revenue and allocation of the HCL money.
Vic asks to add to Joey’s article about budget and reads:
2012 budget nearing completion says official
21/08/2011 11:09 Sulaimaniya, Aug. 21 (AKnews) –
The bill for the 2012 budget will be completed this week said the deputy finance minister today.
Fadel Nabi told AKnews that the budget currently stands at 115 trillion Iraqi Dinars (IQD) – around $97.75 billion.
The 2012 budget looks set to be 19 trillion IQD ($950 million) bigger than last year’s.
With increasing oil prices, Nabi said the current figure was likely to rise.
Iraq has the third largest oil reserves in the world from which nearly 98% of the country’s revenues are derived.
The Iraqi Ministry of Finance looks set to meet the September 15 deadline for the submission of the next year’s budget. The 2011 budget was not ratified until April the same year.
By Idris Abu-Bakir LH/KA/AKnews http://aknews.com/en/aknews/2/258129/
Patriot: Not a bad weekend huh, guys?
Vic: Not bad at all