aggiedad77 » May 28th, 2015,
Thursday News Summaries and Commentaries
Money flows within Iraq but is is flowing in the right direction and as smoothly as is needed.....for sure the CBI is unable to loan money to the government....that we've known for a long time....meanwhile the Trade Bank of Iraq is loaning money to victims of a recent fire....compassion lending.....
The Kurds are turning up the heat on Baghdad saying that After May we will no longer share our oil or revenues generated from its sale with you.....if you won't make budget payments we will take matters into our own hands again.
Iraq | Anbar fighting in the second day: a field progress paves the way for victories strategy?
Iraqi Security Forces have managed to corner DAASH forces in Ramadi and have given them two alternatives....surrender or die....no reinforcements can reach the DAASH terrorists at this time....neighborhoods are being reclaimed in Ramadi as Iraqi forces work to tighten the blockade around DAASH.....meanwhile in the Salahuddin province Iraqi troops continue to retake real estate from DAASH as well.....so typical of politicians....arguing over what to call the latest offensive....in fear of offending someone....Boxman perhaps.
Abadi, visiting the headquarters of the joint operations to follow the latest military developments
PM Abadi is not allowing himself to be just an armchair quarterback in the military operations around Iraq, he is choosing to come to the battle front and see first hand what is going on.....I applaud his efforts to stay involved with his commanders.
Association of Banks: motionless banker active in the next phase
The Association of Banks is applauding recent efforts from the CBI in their lending of money to banks who are struggling financially saying this action is very much appreciated.....the banks look to the future and hope that the CBI will be able to continue their support so the banks may also continue to advertise and make small and medium business loans that will in turn help the Iraqi economy.
Central bank: dollar exchange rate is stable and we expect to sell control of the
The CBI denies fluctuations in the price of the dollar, pointing to a lack of stability in the exchange rate due to higher demands, but they are anticipating control of things with regard to sales.....they have increased sales of the dollar and are expecting to see positive results from these efforts in the next term.....by stabilizing demand the price should also see some stabilization....barring any other outside factors that might come into play.
Presidency of the parliament decides to end the legislative term session next Sunday
Looks like Parliament is going to pull the plug on the existing session this coming Sunday.....so a break appears to be coming up for the time of Ramadan.....unless someone changes their mind.
Parliamentary Finance: Government lingered implementation of the budget is unconstitutional
I see that in my absence the Finance Committee continues to strut their stuff and goes against the grain of PM Abadi.....hmmm....what gives with these folks.....and under what justification do they make claim after claim....other than their own opinions....something that everyone has.....they claim the requested delay in implementation of the budget by PM Abadi is unconstitutional....sorry but I am thinking Abadi has probably a much stronger back ground in knowing what is legal verses what isn't.
Parliamentary Finance: Sales taxes are enforceable even in Kurdistan
One for all and all for one.....so says the Finance Committee when it comes to collection of sales taxes including the Kurdistan region....what is good for one is good for the whole....this taxation is for imported goods...but will also have a direct impact upon Iraqi citizens as the purchase price of goods will also be going up.
Parliamentary economy discussed with the company "Shell" oil investment projects to be implemented in Iraq
The Economy and Investments Committee has been in talks with Shell Oil regarding oil investment projects that can be implemented in a number of areas of Iraq....they have also been talking with the oil company regarding efforts to invest in petrochemical opportunities in various areas of Iraq, branching out from just a pure oil extraction and export operation.
"Hawlati" Kurdish: Region sells its oil at a price of at least three dollars from the price of Iraqi oil
The Kurds continue to make noise about the potential to sell oil on their own if Baghdad is not forthcoming with budget allotments to them.....they are also being vocal regarding the arming of private citizens within the areas of dispute, saying the Peshmerga serves as their defense force and does so quite well....that any arming of others will simply lead to further disputes between the Kurds and Baghdad....it is the Kurds intention to sell oil at market oil pricing, supposedly within $3 per barrel of what the rest of Iraq is selling their exported oil for.
The Committee on Economic Affairs met this week with a number of ministers from the Cabinet present to hear the discussion as it pertained to borrowing from external sources such as the IMF and World Bank.....many stated their belief that such borrowing would have a negative impact upon Iraq and its citizens....that the CBI should be leaned upon to provide needed protection against harsh borrowing conditions that may be seen when borrowing from the outside.....
My thoughts on this is that the borrowing is probably a done deal....a foregone conclusion.....just need to sign on the dotted lines type of thing.....this is serious amounts of money we are talking about here....unless of course the powers to be can convince the Iraqi leadership to sit on the "GO" button and make things happen in a big way through revaluation of their currency.
Expert: Central Bank of Iraq has no right to dispose of Baanaatyate
Second article on this subject.....I smell something cooking....how interesting that the media is picking up on this topic of the CBI offering assistance to the GOI when they all know that the CBI's hands are tied to keep the GOI out of the pockets and accounts of the CBI....rightfully so....just ask Maliki how that goes.....he got so mad over this issue with Dr. Shabs that he tried to ruin his career.
The CBI holds much of its reserves in the Federal Reserve banks of the US and Britain....but it sounds like the US may begin taxing such reserves starting next year.....what else will the US find to tax....good grief.....meanwhile....are we looking at potential changes in Iraqi law that would allow for intervention by the CBI in a financial crunch.....
I hope not they need to maintain that arms length away from the political football being tossed about today.
Frankincense: Abadi face wait in the application of the new tariff until the completion of the Kurdistan uniform application
PM Abadi has agreed to wait on the implementation of tariffs for imports until the Kurds get their own act together in this regard....he wants the tariff applied in an equitable fashion at all ports of entry.....but in the same light, at least 69 members of Parliament have signed a petition to eliminate the taxation effort all together....their claim is that such taxation will be near impossible to accomplish for the entire country.
Kuwait pays tribute to the achievements of the Iraqi government during the last period
Kuwait continues to be supportive of Iraqi efforts toward national reconciliation.....Kuwait also remains supportive of all efforts by the Iraqis in eliminating the DAASH terrorists from Iraq....seeing the terrorists as a cell that is not Islamic, Arabic, or Iraqi.
Kurdistan: Oil will not be issued in favor of Baghdad starting next June
Come June 1 will we once again see the tide of oil turn away from Baghdad for the Kurds....they so threaten to do so to ensure salary payments for their government employees....a new proposal has been sent to PM Abadi through the Oil Minister that would allow the Kurds to sell their oil to the outside world without intervention by Baghdad.....they are basically telling PM Abadi, pay us or we do it our own way.
A proposal to sell Kirkuk oil by the local government to make up for the city's share of petrodollars
So the proposal is on the table to have the Kirkuk oil be sold by the local government so that petrodollars can be distributed to the citizens....something that has not been happening.....more and more the Kurds grow disgruntled over the lack of cooperation by the Baghdad government and their lack of budget payments to the city of Kirkuk and the rest of the Kurdistan....they have a plan in place to take this matter into their own hands and create something positive from it.
Needing to declare a break here for a bit.....will be around as I can be.