Mike Thanks, Tgirl
18-02-2015 Information/Baghdad/.. The parliamentary Finance Committee, confirmed Wednesday it has opened an investigation into the reasons which led to the delay of the publication of the draft law on the federal budget for the current year in the Official Gazette.
The Committee Member said Masood Haider agency/information/, "the parliamentary Finance Committee is awaiting publication of balancing act 2015 Gazette for the country to issue the Ministry of finance was instructed to apply the law."
Haider said the parliamentary Finance opened an investigation on the cause of the delayed disbursement of the federal budget bill for the current year in the Gazette after the President of the Republic ", stressing" the need to be involved in the constitutional laws ". Finished
rissas dad What do you make of the reason why it hasnt been published yet Mike? It seems that some of them dont even know why. To the point where an "investigation" has to be launched.
Very odd. I dont think anything is imminent but this is curious. Perhaps its just that they dont have the money to give out but thats just a guess.
Phillyman Great choice of words rd. "ODD". Listening to the IQD team they believe the budget falls apart without the Kurds coming to an agreement and continue to talk about the lack of unification. Others say the laws need to be passed to make the economy work.
It certainly lends itself to all kinds of speculation in the dinar community. One thing for sure is February is passing us by the end of next week.
hi-five This is interesting. The Finance Committee thought the Budget should have already been published by now and is launching an investigation to find out why it hasn't been published.
Who ever is in charge of publishing the budget must have a secret. Even the Finance Committee doesn't know the reason the budget hasn't been published.
Mally Ya I hate to put too much emphasis on tariffs but since they chose March 1st to supposedly implement them Im personally giving them until then before I declare the budget equals new dinar rate talk as wrong. If March comes and were still wondering where the budget is then my hope for this budget will be dead. Jmo
rissas dad That just adds more to the "oddness". How did the budget get passed in the first place if all parties werent on board, at least enough to pass it. Which means the Kurds agreed, enough Sunni's agreed as well as enough Shia. How then is it still subject to falling apart? Its now signed by the POR, yet days go by and no show. Odd.
Livefree Good thread. Only ONE thing stands out... THEY ARE HOLDING A HUGE SECRET, whatever that might be. We all know what we want it to be but then again those folks know things WE DON'T.
I don't believe for a second the Finance Committee wouldn't know what the end game is, they are just buying more time... like they usually do and keeping everyone in suspense. I just hope the Xmas present when it comes isn't a pair of Grandma's knitted sock
Aloha Alex Wasn't the passing of the budget to become law and posted in the Gazette after a certain amount of time anyway? Or was that just internet BS? If it was law, then these Iraqi politicians don't respect it, which is a very bad sign
Mike Agreed, Philly, and RD makes a good point, the Kurd's were onboard as well as the Shia and Sunni's, there shouldn't be an issue with the contents, they've already agreed to it.
Maybe it has something to do with the Kurd's not getting the agreed upon amount now that we're this close to pushing the funds out, it's plausible.
I wish I had livefree's confidence that there's something in it that's causing the delays, but haven't they had plenty of time to get ready for a big surprise?
It's especially confusing/concerning that the FC is the one making the noise right now, shouldn't the GOI know what the delays are? It's clear that Haider wants this budget law published so that they can begin dispersement, I guess we'll find out what the delays are in short order.
hi-five AA - I tried looking for a time line provision in the Constitution. Mtn Goat said there was a timeline in the Constitution that required the budget to be published within two days after being ratified.
I couldn't find any reference to this in the Constitution. So, I doubt that the deadline claims about the budget becomming published two days after being ratified are true.
Kimberley I agree hi-five... I believe the only time line, was the 15 days for the Pres. to sign, or it becomes law anyway.....
I also remember of hearing of laws that are passed, and have never been published in the gazette....So they are sitting on the shelf......
Maybe the janitor forgot to get it published......he's the only one who really knows what's going on........
Sager Iraq knows that the moment that budget appears in the gazette, it becomes law and official, and that's when they need to fund it... and in order to have funds, they need an international tradable currency, because the budget's funds has international obligations within it.
No, the rate is not in the budget, but the budget does need funds, and to have those funds, you gotta have that exchange rate... internationally recognized exhange rate that is....
That's the only true reason why I believe it hasn't been posted yet. Iraq, like us, is waiting...
Diane This is an oldie question, but I don't know the definitive answer: What has to happen to make the dinar internationally tradeable? What are the exact steps that need to be taken? An agreement between the GOI/CBI? Membership in the WTO? And ok by the WB? The IMF? Any or all of the above?? ?????
Aloha Alex Thanks hi5. Sager, that stars making sense as the days go by. Do you think it is Iraq's hands?
Tlar Fact- private jets are flying currency to Anbar province. INTEL - LD's are being delivered to banks now. You judge what it means or ignor. tlar
High-five Thanks. If the intel part is true, to me this means that Iraq is getting ready to implement the monetary reform, publish the budget, and start paying bills!!
Rockstar TLar I don't remember an article stating about the private jets flying currency to Anbar? Do you still have that or can someone post it please thanks. The Intel part is interesting if true as the only reason lower denoms are needed is if the value gets increased very soon!
Mally Financial agree to provide Anbar government banks with cash
Date: 02/16/2015 15:02 f42f3937fe521f36e9b77f283222c427_L.jpg Anbar / information / ..
announced Mayor of the city of Ramadi DLF Qubaisi, on Monday, that the Ministry of Finance expressed its formal approval to provide government banks that are located in areas that are subject to the control of the federal government in Anbar with cash.
He Kubaisi told / information / "The Ministry of Finance expressed formal approval to provide government banks in the areas under the Federal government in Anbar to control cash flow after providing security protection crisis for the banks involved. "
He added that "the local government in Anbar, in collaboration with the security forces and provided security protection crisis for all banks covered by the filing."
And that "transfer of financial liquidity of the capital, Baghdad, Anbar province, the process will be done by private jet prepared for this purpose", he underlined that "the next few days will witness the arrival of the first plane loaded with cash sent from Baghdad to Anbar province," a 12 .anthy
Aloha Alex 1,400 troops and plane loads of cash going to the same place...hmmm, something we've done before?
Rockstar Thanks Mally much appreciated! The article must have came and went as I missed it..lol... AA I really like the way you think.
Mike Diane, Iraq is currently under Article XIV agreements with the IMF, the CBI would need to notify the IMF that they are now moving their currency to Article VIII where the currency would be internationally recognized.
T Jefferson Tlar, HOLY COW, Tlar ! I read about that, but, didn't think it was true because it seemed odd to me that information would be publicized. Thanks for confirming, Tlar!
Schiz lol you all know what i'm gunna say.....yes, they kicking the can until Mosul is re-taken and they can impiment economic reforms included in this budget.... jmo Mally, Wow this art has sent my mind off on a mad one. Yup alex I was thinking the same, this is defo a big massive Hmmm moment.
Thanks for the info tlar and art mally! good stuff!
HandOverFist I think you're right, Schiz. And they better do it before the March 1st tariffs go into effect.
LiveFree Thanks for the info tlar. Only home for lunch so doing a quick drive-by, but certainly gives me hope. Yet another manager has quit their job with the corporation I work for... bad, bad people. I pray it's my turn next to tell them to shove it.
Risk TLAR.......I don't post much, but it seemed to me that you made your post with a defesive posture waiting to be hammered by the members here......
You are trusted and appreciated on this forum so a defence posture is not need...(althouth i can understand why)....so this beg's the question I think we would all like to know....
How much to you trust the source who gave you such great intel? Thanks
Tlar Risk, Pretty much trust but I like all of you feel a wait and see attitude is prudent. We all have been disappointed before.
According to intel the smalls have been delivered and picked up twice before indicating a reversed decision by the CBI.
This time this feels different though because recent articles tend to support that they might finally be ready to follow through.
Articles on the 32 banks that are already involved in currency swap out selling dollars for dinar,
the article on training these banks and asking them to set up a central processing center,
the same banks getting the swift code to wire in and out,
the fact that they only printed 5 trillion dinar of which at least 2 trillion are already swapped and in streets and the budget is for 119 trillion dinar,
the CBI guaranteeing these same banks allowing these banks to write letters of credit (LOC) way above their capitalization in some instances but certainly above their reserve requirements,
the purchase of more gold to support the "deleting the zero" program,
the article a couple of months ago where the parliament wanted to check how the CBI intended to destroy the currency,
current training the CBI is doing with these banks on spotting bogus currency and on verification of how to use the 10 de la Rue machines they purchased in 2011,
the fact that they still have not published the budget,
the fact that they have had 2 readings on many many laws but supposedly have not voted on them.
I could go on but in my opinion I think this is all over but the soap. Your question is do I think this intel is good, YES. tlar (we may be much closer than we think. They can't drag this out without the Abadi government loosing total credibility.)
Skylimit Thanks tlar, Abadi has been acting like he has been given the green light and decision time for this is right now considering the budget comittments they've made.
Flyboy Thanks, Tlar... Plane loads of money...1400 US troops to Anbar tell me they don't want the area to fall completly into the hands of the bad guys. About time...
Thanks, Tlar...I totally agree with the loss of credibility for Abadi if he doesn't pull this off...and another point...the Kurds went home without much of an argument...they most have gotten a plane load of cash as well...?
HandOverFist Thanks, Tlar. What you say makes sense