aggiedad77 » March 5th, 2015, 12:32 pm
Thursday News Summaries and Commentaries
Baghdad sent 400 billion dinars for the month of February for the Kurdistan Region
Time to exercise caution in reading article titles....the title says "sent money...but the article actually says "hopes to send"....if I had a $1 for every hope that I ever had...I "hope" I would be a millionaire....LOL.....regardless of the semantics...it would appear that the Finance Committee may be considering an additional sum to be sent to the Kurd region for the month of February....who knows how much will go that way.
Exxon Mobil is in talks with Iraq to restructure the oil deals
Exxon Mobil is at the negotiating table with Iraq now.....working on restructuring of oil contracts.....while the oil company recognizes the issues with liquidity that Iraq faces today....they say that any new deal will have to be a proven benefit for Exxon as well.
Following the spread of documents circulating activists on social networking sites .. worry haunts Iraqi employee of life: Do month became 40 days?
People are prone to worry about that which they cannot control....getting paid every 30 days or 40 days....is a great example....even when they have a memo from the office of PM Abadi....that says this won't happen and members of the Finance Committee saying it won't happen in 2015 largely due to the commitment by the CBI with up to 6 trillion dinars to be added to the liquidity coffers of the government.....feel better now....probably not....but allow some trust to be built.
Abadi: directs the announcement next week, the week of solidarity with the security forces to coincide with victories
Next week will be declared "Week of Solidarity" so says PM Abadi to be in conjunction with the victories the armed forces are having in the Salahuddin province this week.......one might think that Abadi would use this as an opportunity to show certain International coalition forces that maybe their estimates of capabilities of Iraq's forces is just a bit off....but I doubt he stoops to their level to flag this.....he is too much the professional.....but he is all about building trust and cooperation from all levels of Iraqis.
Market Iraq : the economic crisis, security events led to the decline in our index by 10%
Again carefully read what is said in this article...they make one think that the "Iraqi economic crisis" and security issues have led to the decline of the ISX by 10%....but they actually talk about "global economic issues".....not just Iraqi problems.
United Nations announces its support for Ebadi in national reconciliation and the participation of all shades of people in the government
PM Abadi had a phone call with UN Secretary General Moon and Abadi was able to point to big successes in the retaking of most all of Salahuddin province that had formerly been under the control of DAASH as well as positive efforts that will soon be directed into Anbar province....he says the Iraqi people in these areas are welcoming the troop forces and are very excited to see their homes and areas being taken back from the terrorists....Moon was happy with the news and pledged continued support especially that of humanitarian efforts that will work in conjunction with Iraqi projects of reconstruction in those areas heavily damaged by terrorist activities.
Liberal bloc: Parliament will stand particular naming heads of independent bodies acting
A member of the Liberal bloc states that Parliament will work towards naming of heads of independent bodies as long as it is not expected to be done by proxy.....they state that this new government, led by PM Abadi, is different from the last and expects the naming or appointment of government positions to be done by actual name, not by proxy.
Federal Balutaúq..mahkma accept a complaint against al-Jubouri, the infallible unconstitutional election as president of the Republic
A lawsuit has been filed in the Federal Supreme Court against Speaker Jubouri that also includes President Masum who the suit claims cannot hold his office because of a dual citizenship issue....this suit was filed by the head of the Coalition for Democracy.....have not heard anything of them before this.....I would think that any flag raised around this issue for any candidate of a senior political position would have been thoroughly vetted before they were allowed to take power.....this will be something to bear watching.
Genel says Kurdistan Iraq owes it $ 233 million
Genel is one of the biggest drilling operations in the Kurdistan....says that the Kurds owe them some $233 million dollars for their efforts largely in the Taq Taq field.....as with all other companies with drilling operations in 2014 Genel showed a big loss for 2014 of more than $300 million dollars....largely due to drilling down turns in the latter half of 2014.....Genel says it is expecting to receive regular payments during 2015 from the Kurds for any oil exported....which tells me they expect the Kurds to find an agreement with Baghdad on oil exports and for any disagreements to be settled.....a subtle way to hear that information.
Abdul-Mahdi confirms Iraq's desire to expand the horizons of cooperation in the oil and gas fields
Oil Minister Mahdi is looking for ways to expand Iraqi oil and gas development through cooperative agreements with countries around the world....meeting this week with the ambassador to Iraq from Italy on this very issue....look for other efforts of similar nature in the coming months.
Conscious / Anbar provincial council held to approve its budget for 2015
The Anbar Provincial Council met this week to approve 164 billion dinars as their portion of the 2015 budget...they will use this money to support security efforts within the province but more importantly to help displaced citizens of the province in humanitarian efforts.
Conscious / Speaker of Parliament Meets Minister of Justice and confirms his quest to enact a law of amnesty
Speaker Jubouri met with the Minister of Justice to push for the enactment of the Amnesty Law....a law that will provide consistency in humanitarian efforts used with Iraqi prisoners, that will provide freedom to those who may have been wrongly accused, setting free those who have served their terms, and put an end to continued suffering that was allowed and encouraged by the former government.
Iraq Bond Investors Keeping Eyes on Barrels Per Day: Arab Credit
Some investors are watching Iraqi oil production and exports in hopes of raking in money associated with Iraqi bonds....they see Iraq's continued push to up production during 2015 as a positive move as well as Iraq's apparent ability to stop the forward movement of ISIS across Iraq....both positive indicators that investing in the Iraqi bond market as a potential lucrative avenue to see money being made....they watch the moves of the CBI who stated in January they intend to enter the secondary market by repurchasing Iraqi treasury bills to help eliminate the budget deficit.
Financial allocations for the launch confirm appointments to the ministries and departments
The Finance Ministry has completed the launch of financial allocations associated with appointments to the government ministries and departments.....these allocations go to fulfillment of jobs for graduates and all depends on the various grades as assigned from within the budget.
Integrity Committee: trillion and 14 million dinars from Iraq funds registered for corrupt officials
The Integrity Committee must have a great group of bloodhounds that work for them....looks like they have trailed 1 trillion, 14 million dinars to Lebanon where former high level Iraqi officials had directed money into personal accounts and real estate investments.....the return of the money will not be an easy task as multiple countries laws are at play here, and in the meantime of trying to recover the funds the Committee is also searching for the guilty parties as well.
Najafi calls on regional countries to contribute to the financing of reconstruction fund
VP Najafi is seeking assistance from regional countries in the ME to aid in financing the Iraqi reconstruction efforts where DAASH has caused significant damage to properties....Iraq has committed 500 billion dinars to the reconstruction program but that will not begin to cover all the costs associated with the effort....so Najafi is hoping their Arab brothers will step up and contribute to the effort as well.
Parliamentary Finance: the victory of the security forces will reflect positively on the Iraqi economy
A member of the Finance Committee believes that recent security force victories in the Salahuddin province will reflect in a positive fashion on the Iraqi economy as it is well known that security and the economy are two of the biggest battles that Iraq faces today....one feeds the other.
Ministry of Municipalities and instruct reform the infrastructure of the liberated areas
The Minister of Municipalities and Public Works is already pushing his departments to commence work immediately to restore services to those areas of Iraq that have been liberated this week from DAASH.....they are jumping on work that will restore much needed services to these areas.
Source at the Central Bank: banks will begin the implementation of remittances to their customers starting next Sunday
Ok, the CBI seems to have their new mechanisms in place and ready to move forward....hopefully those that need training were given that training.....and Sunday they will begin to provide remittances to their "customers"......note it says "their customers"....who are the customers of the CBI.....not the Iraqi citizens as some may be thinking....they do not deal directly with citizens....their customers are the banks of Iraq....the other Central Banks around the world....and the Iraqi government....watch what they implement with these folks and watch the end results of these efforts....that I believe will be of great importance......who deals with these Iraqi banks....the CITIZENS of Iraq...the BUSINESSES of Iraq.....they are about to be flooded with liquidity I believe as the CBI implements their new mechanisms for all.
In Baghdad .. more than 400 projects crashes as a result of lack of financial liquidity
Baghdad has no money honey....and as a result more than 400 projects have gone idle....lack of liquidity coupled with no budget during 2014 and the well just ran dry.....even for such things as waste treatment...stinky stinky and totally unsanitary...not a good thing.
Zamili: the most successful e-government solution to overcome the routine procedures and reduce corruption
The application of e-government programs builds as Iraq attempts to overcome corruption by streamlining transactions of citizens with various entities and in doing so making these transactions more safe with protections in place that will hopefully circumvent issues of the past associated with corruption.
Abadi adviser for the economy: budget included postpaid law as a substitute for "infrastructure"
Dr. Saleh is out beating the sidewalks again today.....this time promoting what he calls Payment Forward Act.....this sounds more like working on credit to me....get the work done and then receive payment....if the party can be trusted for it....paying forward...new concept in government for sure....still rubbing my forehead on this one.
Special / talk about compulsory savings for senior state employees premature
The Finance Committee claims that compulsory savings for senior level state employees has not yet begun...it seems the Committee has a plan in place that will deal with this at the appropriate time when they are given the go ahead to start the program.....these savings will be taken out of affected employee checks directly at the bank level it sounds like.
Dry L / Iraq Press /: citizen lacks the most basic rights while suffering from duties and taxes
Many Iraqi citizens live without basic human rights yet they are being subjected to taxation of various aspects of their lives and required to pay duties on certain products....there is much that cannot be done at this time because of the attention that is required with things like security and dealing with the DAASH terrorist threats on a national level....in time....this reality needs to be turned around and it is up to the political process to make that happen.
Expert: delete the zeros supports the national currency and reduce inflation in the country
Keep in mind Family....this is an article from an economist....NOT the CBI or the GOI....someone's opinion outside of either entity.....he sees the removal of 000's as supportive of the IQD and claims it will also reduce inflation.....he basically says that by removing the 000's $100 USD will equal 100 IQD...as for the inflation rate.....the last I saw of it I believe it was in the 2-3% range...will be hard to improve upon that.....but....but....BUT....if this person's opinion has any validity.....1 for 1 is a worthy deal...IMO.
A proper place to end things....a future that is bright....a future that appears to be within one's grasp.....a future that is full of stars......knowing......the BEST is yet to come!!!