aggiedad77 » December 18th, 2014, 1:06 pm
Thursday News and Commentaries
So it is Thursday and already early this morning we have an abundance of news, some interesting, some from the past, but as I've said recently....their news is all of a sudden very believable in nature to what is going on....amazing the difference that a new government makes in things.
Deletion of zeros in 2014 .. project is ready and implementation of a deferred
What a great article to lead off with this morning.....opinions of various members of Parliament....nothing more....definitely not the CBI talking here.....opinions are like noses, everyone has one....some are bigger than others. Sure thing we see them mention "delays....what kind of delays".....OVER four years....don't take that to be a literal thing....over four years does NOT mean IN for years....
Calm down a bit....LOL.....keep in mind too this is NOT the CBI speaking here....members of Parliament who are voicing their opinions of things....they talk abut stability in Iraq....it's definitely better today than it was in June, July, or August....keep in mind, we've known since 2012 and maybe before that the CBI has been ready to push the button.
They talk about security issues yet they also admit that security isn't an issue at this point with the CBI....some are even calling on the CBI to implement the project in early 2015....so which opinion are you to believe....my suggestion is to believe what the CBI says....the rest are just opinions.
U.N. defers Iraq's $4.6 billion Gulf War reparations to Kuwait
The UN has agreed to postpone Iraq's 5% of it's oil revenues until January 1, 2016....this is done through the UN Compliance Commission. It also looks like Kuwait's approval of a deferral of Iraq's final payment to them until 2017 will go forward as well....good news for Iraq's cash strapped situation right now.
Abadi's office to announce the postponement of the session the Council of Ministers for discussion of the budget
So the COM meeting scheduled for today is postponed due to continued falling oil prices.....well they have to meet sometime and pick a number...even if it is a moving target....they need to make a stab and go forward....best guess may be as good as it gets at this point. Thank the Russians for much of this tumble I believe. Note it wasn't the COM postponing this but rather the Ministry of Finance from Parliament making the request....so they won't meet to talk about the price of oil in the budget, but the COM did meet today to talk about the 2015 budget....hmmmm.
Cabinet discusses the reduction of the budget deficit in 2015 to 15 billion dinars
This is incredible....the original deficit in the 2015 budget was to the tune of 47 trillion dinars.....they recently dropped it to 30 trillion dinars...then just a few days later to 23 trillion dinars...and now they are talking of 15 trillion dinars....how incredible this is.....I'm believing this mostly all has to do with past corruption within the budget from prior years....Abadi and crew are doing a heck of a job in eliminating this junk....I'm choosing to look at 2015 to be a stellar year for the Iraqi's as they get their house in order.....never have we seen a COM working so diligently on a project like this.....I'm also still of the opinion we will see this approved in 2014....if that matters.
Parliamentary Finance for "direction Press:" The government is trying to find a radical and suitable and appropriate solutions for the Iraqi economy in the budget of 2015
The Iraqi government is doing the same thing that many if not all oil companies are doing around the world at this point in time....they are scrambling for answers on how to put the final touches on a 2015 budget....the price of oil continues to drop and fluctuate.....without a hint of stability it drives those who are responsible for budgets to the point of drinking.....picking a number and it being too high will be so costly to them or to any oil company.....yet they don't want to low ball things either....this article makes it sound like the COM is in constant meetings today and far into tonight on the subject of oil prices and the 2015 budget....believe it.....they know they must find an answer....I am still impressed by the tenacity the COM is showing in trying to justify what it puts into the budget rather than just throwing a number at it and turning it over to Parliament to argue about as has been done in the past.
Abadi drops all filed by the prime minister suits against journalists
In another step of trust and faith PM Abadi has moved forward and dropped all charges filed by former PM Maliki against Iraqi journalists....this is a good faith effort on Abadi's part that he trusts what the journalists are capable of doing and is not afraid of what they might publish....a fear that obviously was of concern to his predecessor.....drastic signs of difference in leadership styles of the two.
Baghdad struggles in its role as mediator
A word of caution with regard to this article....it is an opinion piece by someone.....their opinion of what PM Abadi and his government is either doing or not doing with regard to Sunni extremists in Iraq....in their opinion he is not doing enough....but I can assure you we have seen some evidence that says the contrary to this. I'll mark this as ONE article that says one thing placed alongside a stack of other articles that appear to indicate Abadi is in fact slowly winning many Sunni's and others over to his side....that they are indeed willing to pick up arms against the IS terrorists....in my book he is doing 1,000% better than Maliki did in the whole 8 years of his time in office....in all honesty it is probably too early yet to tell the success of Abadi at this point.
Abadi reveals a supplementary budget to compensate for the drop in oil prices
Hints of a supplemental budget to help overcome any issues with what may be presented to Parliament.....this supplemental could see some additional adjustment or wiggle room in the oil pricing scenario for Iraq.....but it still is a new idea for Iraq I believe but it is a positive sign of them looking at reality with both eyes open.....they continue to show signs of being led as a real international entity.....something that has to be a welcome sight to the PTB.
Parliamentary Commission of Economy: not yet at specific points to address the customs tariff law
They are waking up to the idea they can make things as good in country or better than what they are importing from other countries....as far as tariffs go....how do you tax things on a program rate and make it meaningful.
Abadi: We can not calculate a discounted price of oil and we'll start to reduce unnecessary expenses
PM Abadi is stating that Iraq is not bankrupt....but they are experiencing issues from military spending and the obvious huge drop in oil prices over the past six weeks or so.....moving prices are making it extremely difficult to land on a discounted price for oil for 2015...understandable....so in the meantime they look at ways of reducing or eliminating unnecessary expenses.....now they are operating more like they should have been all along....the Iraq that is evolving today is one that should have been in place many years ago....what wasted years those have proven to be.
The arrival of 500 million dollars from Baghdad to Kurdistan Region
A second payment has been made from Baghdad to the Kurdistan....$500 million dollars....a nice chunk of change to pay ministerial salaries with....makes me wonder what Maliki is thinking.....how is that egg tasting on his face.
Abadi government is trying to get rid of the heavy legacy of al-Maliki
Smart move....Abadi and crew are doing all they can as quick as they can to remove any semblance of Maliki in the government and in their relationships with neighboring countries....this is as it should be....after all Maliki's ways were not working, never had worked....and there is no legacy here worthy of being maintained.
Hussein Abdul Rasul Khalisi *: Notes on the United Nations Convention against Corruption, which was joined by the Republic of Iraq under Law No. (35) for the year (2007)
Strapped for cash Iraq is looking towards many countries who may be holding monies that were frozen at points in time wondering if they can get their hands on this cash again.....work that PM Abadi is doing to repair past issues over corruption....work that hopefully will lead to better times for Iraq.
Urgent .. Cabinet defers its extraordinary about the budget until next week
So they did meet in the evening hours....and then agreed to meet again next week at some unannounced point.
Abadi Office: lower oil prices postponed extraordinary Cabinet meeting to next week
They continue to look for ways to cut the budget....in my mind this is positive action on their part.....I've been in these shoes before in the oil and gas arena here in the US and budget cuts never come easy.....they have to be calculated and studied and justified in many ways....it doesn't just come with the slashing of a red pen....not if you want to be realistic about things....they still have time to get this done in 2014 I believe....I think when Parliament gets this budget from the COM they will be greatly impressed.
Finance Minister: Budget will reach cabinet next Monday
With each new post by the news hounds we see further evolvement of this process....now Finance Minister Zebari is saying that the COM will get the budget on Monday....the determination to finalize this baby before the end of 2014 remains in place.
Keywords: can not ignore the support of the private sector will not disrupt activity of foreign exchange
The CBI Governor speaks and says they will not ignore support from the private sector and does not intend to disrupt any activity associated with foreign exchange operations or the cash dollar sales operations....at this point there are no intentions of placing restrictions on foreign remittances...the bank continues to be supportive in its role of reconstructing Iraq.
Well my fingertips grow weary......great effort on the news articles today guys.....I'm sure we may yet see more.....going to take a break at this point and will be back later.