aggiedad77 » February 19th, 2015, 11:26 am
Thursday News Summaries and Commentaries
Well this morning we await sight of a budget.....as other things take place around Iraq....wait for it...wait...that is until Sunday...we should see the budget printed.
Wasit: guarantees for foreign companies
It sounds like the Wasit province is getting their A game together and committing to foreign companies by preparing a strategic plan that based on what they know of the 2015 budget will bring assurances of payment to these countries for their work on province projects.....they claim their security levels within the province are good and are being maintained by security forces and local clans.
Parliamentary Finance: next week will see the release of the federal budget for all ministries
A member of the Finance Committee has been quoted as saying that "all ministries" will see the budget next week....so does that mean that some ministries have seen the budget this week.....they also go on to state the the financial crisis can be overcome if oil prices continue to rise...well the budget has oil at $56 and oil is now over $61 per barrel....even at this small margin of improvement they are saying they can make state employee salaries for the current month....but they must keep export rates high.
World Bank confirms its commitment to providing support for the implementation of the Law on Social Protection
The World Bank is confirming through the Ministry of Labor and Social Affairs they will continue to support the implementation of the Law on Social Protection....this new law works on strengthening reforms...the World Bank has been partnering with the Ministry of Labor and Social Affairs in this area for several years.
Parliamentary Finance for "direction Press:" Our Committee will monitor and follow up the central bank sales and a statement as to whether there have been cases where corruption
So the Finance Committee is attempting to flex some muscle with the CBI and saying they will now be monitoring bank sales to determine if there is any evidence of political corruption going on with the bank.....I'm predicting that someone at the CBI will be taking exception to this kind of bird-dogging by the Finance Committee, saying it does not fall under their responsibility to monitor the banks actions....I believe there is a board of governors who have this responsibility....I could be mistaken on that....may require some research.
Oil agreement in edema eternity .. Astaralazma between Baghdad and Erbil, the oil law to indefinitely
Yes there continues to be some disparity between Erbil and Baghdad over the payment of Kurd salaries....something that Baghdad is saying it can't do with oil prices being so low and oil exports not being where they should be for January....however we have already seen that with the rise in recent oil prices that salaries should be able to be paid....put the Kurds first in line for payment....if you do then watch their production rates and export rates shoot up as a result....a little cheese for the mouse is all that is necessary to produce big results....both appear to remain committed to the agreement signed in December, and the Kurds seem to understand the cash flow issues for Baghdad at this time....the Kurds are just getting weary of the run-around that they see in their minds....it's becoming a catch-22 for both sides.
Deputy for the National: the three presidencies agree on a truce and end a boycott of the Union powers of parliamentary sessions
Members of the National Alliance are saying that the meeting of the three presidencies on Tuesday resulted in a truce being called regarding the National Union of Provincial Powers with Parliament.....their agreement should end a boycott of Parliament by members of the Union of Forces with the presidencies agreeing to a timetable of events going forward for Parliament....they spoke about the strengthening of efforts to assure more victories against DAASH and working more diligently to resolve issues with the Kurds through sustained dialogue with them.
Locals: The dollar recorded the highest rate him high in Mosul
From Mosul locals are reporting record rise in the dollar against the dinar....they are saying that $100 USD has become 160,000 dinar....up from 128,000 dinar.....they continue to point to the lack of liquidity in the city as the driver behind this climb....the take over of the city by DAASH last June is still largely to blame for this disparity in the two currencies.
The arrival of troops from the "Marines" to Iraq to participate in a ground operation to liberate Mosul
The Marines have landed it would seem and appear they could be used to help retake the city of Mosul.....a first for US troops if this proves to be the case.....the bulk of the arriving Marines were sent to the al-Asad base while others were routed to the US Embassy in Baghdad to provide protection for US interests there.....the Marine presence is for the removal of DAASH presence only and will not be used in other capacities.
Next week .. distribution staff self-financing companies salaries
The Ministry of Finance has announced the decision to pay salaries to the staffs of self-financing companies next week.....this follows a decision by the COM to recommend payment of the salaries to the Ministry of Finance.
Saadi: Amendment of economic legislation supports the private sector
The Chairman of the Securities Commission claims the development strategy of PM Abadi for the private sector should be based on legal amendments and activation of state-owned enterprises....the turning over of these state-run entities to the private sector as Abadi has promised.....this will remove a drain on the state funds if these companies are removed from their jurisdiction.....it should also bring a shot in the arm to the ISX as well.....and get the wheels turning to move the economy in a positive direction.....this all is part of Abadi's desire to move Iraq towards a more private sector country and market economy.
Currency gang arrested for fraud in Baghdad
A gang of counterfeiters was arrested in Baghdad....nailed for counterfeiting 10,000 IQD notes....it is believed the Anti-Crime Directorate discovered upwards of 12 million IQD in the operation that was uncovered....at this time they continue searching for a second group that is believed to be a part of this operation.....all who are arrested will be brought to justice and will be tried in the court system for their crimes.
Foreign Minister calls for the implementation of agreements signed between Iraq and Kuwait agreements
The Iraqi Foreign Minister met with the Kuwaiti ambassador to Iraq regarding signed agreements between the two countries and the opening of a Kuwaiti consulate office in Basra.....they report great progress between the two countries with agreements that have been signed by the two entities.....the Foreign Minister also met with Iraq's ambassador to Bahrain and stressed the need to continue working on relationships with Bahrain....also through the Foreign Ministers office efforts are ongoing to continue to build relationships with Iraq's neighboring countries.
Pictures .. opening of the Commercial Bank of Iraq in Sulaimaniya
So one might ask.....with a huge liquidity issue in Iraq currently how is it that the Trade Bank of Iraq can be opening an office in Sulaimaniya.....perhaps this announcement coincides with the announcement about the budget....they do speak of the effort as supporting commercial recovery of the city.
Finance Minister discusses cooperation with the World Bank
The Finance Minister is working with the World Bank in a cooperative way that would help Iraq, especially through the International Bank for Reconstruction with regard to a number of different projects relating to energy, water, irrigation, transport, and sanitation....largely humanitarian efforts it sounds like...these efforts will be a part of the agenda associated with the World Bank spring meeting in Washington in April.
Abadi: Moving the transfer of powers to the provinces
PM Abadi continues to work towards a decentralization of the Iraqi government by working to give a great deal of state level powers back to the provinces.....Abadi leads a COM level committee that is charged with making this effort happen....not all ministries will see a transfer of powers but many will and are being cooperative towards this effort....this will be accomplished through amendments in current laws that will push these powers back towards the provinces....as Abadi prepares to push forward with this initiative some of the provinces are making their own efforts known to be receptive of the PM's desire to help them run things at the province level and are readying themselves for when it takes affect.
Hilali: the law of parties in parliament table next week
A deputy with the State of Law coalition sees that the law of parties will be on the agenda with Parliament next week....if so this would be the second reading.
Begins the implementation of its programs the end of next March .. Baghdad Economic Forum is in his constituent activating the role of the private sector to stimulate the economy
The Baghdad Economic Forum has had its inaugural meeting and Dr. Saleh made a prominent presence with the group...they are looking to March as the start of their efforts to help the Iraqi economy....they will be addressing a number of issues associated both with the government and private sector efforts that will drive economic turn around for Iraq....this sounds like a viable think tank of individuals that can provide some good direction for the government as well as business within Iraq if they are given the opportunity to be heard.
Sunday .. publication of the budget in the facts of Iraq Law
Well at long last we have some evidence that the budget will be appearing in the Gazette on Sunday in full detail...should make for an interesting read.....again though as Frank has mentioned....do not be surprised to see a 1166 rate in the budget.
Well there you have it...news thus far today....interesting and with something definitely to look for on Sunday.
The BEST is yet to come!! Aloha Randy