aggiedad77 » June 23rd, 2015,
Tuesday News Summaries and Commentaries
So let's light up the media world of Iraq with good news today.....awesome news in some cases, that all follows a great conference call last night which was immediately followed up with some stellar CC Notes brought to us by denaridori....thank you for the effort, I know it wasn't easy, but it is very much appreciated.
Abadi adviser describes the proposal to give the employees' salaries in dollars to "make an incorrect"
According to Dr. Saleh, speaking on behalf of PM Abadi the proposal that was seen a few days ago about paying employee salaries in dollars is not true.....he says it would create problems for Iraq if they were to do this....once again the culprit of this kind of rumor was a member of Parliament....a politician if you will....nuff said
Why will deteriorate dinar? .. Economists discuss pumping the dollar in the markets, policy
Some economists say the dinar will deteriorate....some say that it is going to improve.....my opinion says that if they can keep the politicians out of the mix that the dinar will see improvement, let the CBI do what they do best which is money management....if there are money launderers in the mix take care of them, point fingers at them, charge them, and get them convicted....same with smugglers....can't have either....
And as far as corruption goes....please...please....please turn it over to the Integrity Commission and let them put their detectives on it.....just focus on what should be in the best interest for Iraq and what follows from that will prove to be a great thing for the world as well.
Iraq eyes investor roadshow by July for $5B bond issue
After meeting with JPMorgan, Citibank, and Deutsche Bank in June, Iraq is looking to start selling $5 billion dollars worth of bonds sometime in late July or early August....what Iraq waits for at this point is the all important credit rating that needs to be as high as possible to help the sale of these bonds and they seem quite optimistic about the results that could be forthcoming from that decision.
Central Bank launches amounts of medium and small loans early July
Small and medium business loans are to be cranked up by the CBI starting in July for a max amount of 50 million dinars....they are looking to improve economic development for these small and medium level projects within the Iraqi society....interest rates on these loans should not exceed 5.5%.....along with the issuance of these kinds of loans for projects they expect to see a fall in unemployment rates as people are once again able to seek employment.
Deputy: the deletion of zeros from the currency and a national project
Word of CAUTION here....don't just read the 2017 date and freak out.....this project of the deletion of zeroes is an ongoing part of the MR....trust in this.....yes they have said it could take upwards of 2 years to complete....but the lava flow is moving as we speak today.....note too they talk of pulling old currency back in over a 10 year period.....they are working in a very focused way to make all this happen...working in the face of adversity as there are those from a political standpoint who do not want to see this happen....these speed bumps must be overcome as they keep pushing the flow forward.
Cabinet approves Iraq's accession to the Asian Investment Bank
Today's COM meeting saw an approval from PM Abadi and the COM to push forward towards joining the Asian Investment Bank....believing there will be financial and economic benefits for Iraq.
Jubouri: waiting for the arrival of the oil and gas law for the legislation
Speaker of Parliament Jubouri says that Parliament is awaiting the arrival of the oil and gas law from the Oil Ministry and the COM....both have yet to turn loose of the elusive document, probably because there still are kinks to be worked out with Erbil on some final issues there.....again as I mentioned above in another article there are political factions who do not want the oil and gas law brought to fruition and as a result they must be overcome.....hurdles to be overcome but not insurmountable mountains.
Interior constitute a crisis cell with the Central Bank to hunt down the perpetrators of the speculators exchange rate appreciation
The Ministry of Interior is now working with the CBI to track down speculators who are believed to be guilty of pushing for the rise of the dollar exchange rate....those illusive black market individuals that the Finance Committee could only point fingers at in the past....as well as the CBI...blaming both of them for the rise in the rate....maybe the body that is being put together to search for these bad guys might best be served by looking closer to home....as within the Finance Committee itself....suspecting some kingpins could be toppled there myself.
KRG to Meet Banks for Meetings With Bonds Investors
So the Kurds have passed laws that will allow them to seek international loans up to $5 billion dollars I believe....and they are now asking Deutsche Bank and Goldman Sachs to arrange such meetings with potential investors in London in the coming days.
Kurdish lawmaker: two delegations will visit Baghdad soon to discuss the region's share of the budget and the oil agreement
Kurd delegations will soon be trekking back to Baghdad to strike up talks about the oil and gas agreement and their share of the budget.....IMO....if they are coming to town to talk to Parliament politicians they are barking up the wrong tree, they need to be talking to members of the COM and within COM the Oil Ministry. Talk to the hand....the Parliament isn't truly playing a part here just yet....I'm sure they have opinions on the law but opinions are cheap and until Parliament has the law in hand...there isn't much they can do...again....my opinion.
Pending Kurdish sources: agreement on the dismissal of al-Maliki and replace Jaafari
We keep hearing this noise that Maliki is out and that others want Jaafari in as VP to Masum......oh would that be nice to see the snake kicked to the side....maybe even opening him up for further investigations to kick into full steam against him.....so either resign peacefully or go kicking and screaming....just go....from the sound of things....PM Abadi grows tired of Maliki and his threats....sounds like the end could be near for Maliki.
Jubouri: General Amnesty Law came to Parliament
According to House Speaker Jubouri, Parliament will have in front of it upon its return the Amnesty Law, along with several other important laws that were there when they left on recess, the National Guard Law, Federal Court Law, Law of Parties, Law of Accountability and a host of other issues some of which has been around without resolution for at least 8 years....time to "git 'er done" folks.
The new investment law is ready for vote: raise taxes urgent and vacations for investors
The new Investment Law is ready for a vote and does not have problems that will keep it from being approved....it raises taxes....and they don't think it will be problematic to approve....let's watch what happens....no doubt new and improved investment laws are needed and the cutting of red tape is necessary along with the removal of corruption potential....roll it out and let it be.....speaking words of wisdom....let it be.
Allawi: Kuwait has agreed to postpone the payment of compensation to Iraq and interest-free
An interesting piece of news here.....Allawi is saying he was sent to Kuwait to negotiate a deal with the Kuwaiti's to postpone final debt payments to them for two years.....I was under the impression this was agreed upon late last year or early this year.....maybe this is simply an update of his visit he had with them back then....I think the way things stand now they have put off the final debt payment of around $4.5 billion dollars to sometime in 2017, largely because of the fall of oil prices and the liquidity problems they saw looming on the horizon for them and the Kuwaitis were in agreement with the deal.
Well time for a coffee break, cookie break, just time to stretch your legs.....oh and if you go past the bathroom a bathroom break too, never pass up a good opportunity.