aggiedad77 » February 19th, 2014, 2:56 pm
Hello Family....here are the Wednesday morning News Summaries:
CBI.News and announcements
What is this....Turki and Maliki attending the third Iraqi/German Business Forum in Berlin Feb 19 and 20.....wonder if they flew up in M's private jet.....oh to have been a firefly in flight.
Finance Committee recommends that the central government banks to take over the sale of hard currency
Now the Finance Committee is recommending to the CBI that hard currency sales be turned over to government banks rather than going thru private banks....I'm shaking my head....the GOI does not need control of anything the CBI is authority over.....just say NO Turki.....do not let Maliki lure you down a path that you know you should not go. Stand firm in what you know to be right. Yes the CBI has implemented strict controls over the last year to curb smuggling and money laundering, and just plain dirty politics....IMO.....the GOI has no right with their hands in the till.
Read More Link on Right
Claims enactment of a law to protect bank deposits
The Finance Committee is making a bunch of noise of late.....it seems they don't understand....don't like all that the CBI is doing lately.....maybe they are the ones who need to have a conference with the CBI and listen and learn just what it is they are doing and why.....Turki......is no turkey.....he knows.....I think that he even has Dr. Shabibi whispering in his ear....the moves necessary to be made.....it sounds like the Finance Committee desperately wants control over what the CBI does....and they seem to believe this law for protecting bank deposits is one way to go about that. So is this a law or is it a project.....they call it both ways.....sounds more like a "move" on the Committee's part to get their grapples in the back of the CBI.
Officials in Babylon hold banks responsible for the reluctance of the projects and to encroach upon the laws
Babylon is experiencing problems with getting projects completed and is blaming the banking system for the problem, primarily the private banking sector. There are 18 banks throughout Babylon who will issue letters of guarantee given to various contractors.....but the truth is the banks do not have the liquidity to give out large sums of cash that are required to complete the projects that the contractors have committed to.....in turn the contractor ends up not being able to meet deadlines because they cannot continue to pay workers and others who are involved in the project work.....there are currently 150 projects that are delayed in Babylon amounting to 224 billion dinar.....due to liquidity issues.....private banks have been bypassed in some instances....and contractors have ended up in prison because of their inability to pay debts.....of course in the middle of the fray is the ever present issues with corruption....surprise surprise.
At its next meeting of Parliament .. read Protection Act employee
This sounds like a case of putting something on FaceBook causing an Iraqi Airways employee to get in trouble and causing the employee to be transferred from the place of work and lose two months salary. It appears this is being cited as being unusual...but I fear the Protection Act may not rule in favor of this employee....it all depends on how the law will be worded when it is passed.....as it stands it is supposed to be on the Sunday agenda for its first reading.
Economic Affairs approve the recommendations of the Committee to exchange information on the movement of the currency sold
The Committee on Economic Affairs chaired by Deputy Prime Minister Shaways, has approved recommendations to exchange information concerning the movement of currency sold by the CBI.....in an indirect way this sounds like the committee approves what the CBI has been doing, knowing and understanding the CBI is subject to audits, controls, and field inspections by the Directorate General of the banking and control office. Turki was in attendance at this meeting.
Maliki: Iraq one of the ten countries most growing in the world
Maliki spoke out on Wednesday saying that Iraq is one of the 10 top growing countries in the world at this time. They seek American participation by investing and trading with Iraq, to aid in the restructuring and rebuilding of Iraq. He stated that in the last 8 years oil production is up by 50% to 3.2 million barrels per day and is expected to grow to 9 million barrels of oil by 2020. Fiscal revenue from the oil sales is expected to reach $500 billion dollars by 2035 and much of that money is being used for infrastructure work, rebuilding roads and bridges, railways and airports. Iraq's growth will top that of China....exceeding China's growth by 3%, according to a Merrill-Lynch report.
Iraq Becomes China’s Number Two Crude Exporter
Iraq is positioning themselves to be just behind Russia in supplying China with oil during 2014.....this comes amid reports that globally there is a slowing of demand for oil and a resultant downward trend in oil pricing globally. Iraq has done well in the past year after seeing itself 5th in size of China's oil suppliers.....they have risen to #2 largely on economics.....cutting of the Basra Light Crude prices to get their foot further in the door with the Chinese.
Banking expert warns from an unprecedented rise in the prices of goods and materials in the local market
What a sad sight.....increasing the salaries of retirees will be more than offset by increases expected in the prices of good and materials at the local market.....the cost of these items are to be said on the increase just because of the salary adjustments to the retired....someone needs to figure out a better system it would seem....and then sell it to the world.
Kurdistan: Barzani and al-Shahristani talks was positive for the first time .. and the oil exporting region is still "dilemma"
So the "main sagging point" with the negotiations is the exportation of oil by the Kurds....but for the first time the meeting was positive....they see progress in that a joint committee may be formed to observe the activities of SOMO in the handling of Kurd oil exports...if this can be ironed out there may be great progress towards budget approval. The rest of the article dealt with the poor handling by the Obama Administration of the Kurds being listed on Tier III terrorist lists.
Commission: Saturday distribution of electronic cards in Baghdad and a plan for distribution in Anbar
A number of provinces, including Baghdad will be distributing e-cards to voters on Saturday....this does not include Anbar at this time....a plan will be devised for Anbar at a later date.....I believe the last part of the article is a typo concerning the April 30 elections "next year"....probably copy and pasted from an old 2013 article.
Parliament will hold its next Sunday and the absence of his agenda of budget bill
The next scheduled session of Parliament is set for Sunday, they have on the agenda a vote on the draft law of social protection and a vote on the draft labor law.....nothing in sight about the Budget bill at this point.....a number of other things will be up for first and second readings at that time as well......I suspect....in the back of my mind the budget could show up in quick order if they determine by some miracle to have a quorum.....watch and see.
Shara: sponsor dialogue to resolve the budget crisis could be approved without the presence of the Kurds
This article describes what would be a bitter pill for the Kurds......that is the voting on the Budget if there would ever be a quorum in Parliament....with or without the Kurds present....I just don't see that happening right now with the Coalition Unified still remaining out on boycott.....who knows what the future will bring.
Kurdistan Alliance: We will not recognize the region's oil money to the government in Baghdad!
The Kurds are complaining that they have no money....they can't pay their employees....that Baghdad has not provided money for salaries for two months....but they still hold strong to their commitment of not giving revenues from oil sales to Baghdad....somewhere, somehow this process needs to come to an end....hopefully a peaceful one.....I believe it is time for the Kurds to understand that the Federal government governs the country....the Kurds are not in as much control as they like to think.
Economic expert calls to open Islamic banks in the governorates
First we heard that the Iraqi government should be controlling banks and creating more growth....now an article that states that Islamic banks should be encouraged in all areas of Iraq....that these banks would foster greater trust by the citizens going forward, more so than what they trust in government banks or the Banks of Rasheed or Rafidain......sounds like there just needs to be greater faith in the banking industry altogether.
Iraq’s Deputy Finance Minister: Kurdistan Budget Blocked Directly by Maliki
Now a Kurd deputy finance minister has submitted his resignation over issues related to budget arguments.....what good does that serve anyone.....will they even miss him. He is claiming that Maliki is the one ordering that the Kurd budget share not be sent to them.....it turns out this minister has threatened to quit in the past and M supposedly gave in to him....I bet he suspects that M will do it again.....I think he's going to be surprised when M just waves bye bye to him.
Iraq incurred significant financial losses due to the delay budget
Sure Iraq has incurred significant financial losses because the 2014 budget hasn't been passed, heck it hasn't even been read the first time......I find it ludicrous that Parliament has had this for over a month now and cannot get the necessary members present, except on one occasion and then the budget wasn't on the agenda.....who is holding this up....everyone....has some responsibility in the game....there needs to be called a delay of game....penalize all parties in their pocketbooks which it sounds like are running on empty as it is....but make all parties hurt and drag them to the bargaining table....this same charade is played out year after year.....man up and make the changes that will invoke worthy change for all Iraqis....stop the moaning and groaning and do what you are paid to do.
Election card sold for 50 000 dinars!
I knew it would just be a matter of time before the black market took a hold of these e-cards.....50,000 dinar...that is cheap really.....what a tragedy....but this will get bigger IMO.....and it has the potential to ruin the upcoming elections....more proof that the government is full of corruption.....scary....but real.
Legal representative: positive signs to solve the budget crisis between the center and the region
A member of the Parliamentary Legal Committee believes that some ground was made in the meetings on Monday....that he sees positive signs toward budget resolution....and that once the Kurds and Baghdad do shake hands....the passage of the budget should take less than 2 weeks.....don't forget what I-Team reported about the Kurds last night....maybe we aren't as far away as some people want us to think they are.
Economy Committee assures lack of plan to control inflation
The Economy and Investment Committee is stating that because of the increase to the salaries of government employees there was no plan put into play to control inflation....sometimes I catch my self stopping and wondering....who controls these people....why do they only know how to complain....why was this voice not raised before now.....that is what the readings of laws are all about...a time to voice concern and support as well as dissension of particular laws and to point out ramifications of the same.....I largely suspect this will be the only appearance of this issue....it will die off never to be heard again.
That wraps up the Wednesday morning News Summaries