aggiedad77 » February 4th, 2015,
Wednesday News and Commentaries
Good morning Family, a number of news issues are shaping up this morning...sit back and read what this day is bringing us.....laws....more laws.....did I say more laws....these are things that are very necessary to economic and monetary reform for Iraq....
Despite the outward appearance progress is being made within Iraq.....the legislative, executive, and Presidential entities of Iraq are standing arm in arm....they made a good call on the price of oil in the budget as the market is telling us....more good news.
Deputy for the National: Abadi does not have a magic wand to implement and document the political agreement
One MP with the National Alliance says that PM Abadi has no magic wand.....no....but he sure has a magic touch...
A way that is almost magical in pulling differing tribes and peoples together as one....that is called unity....cohesiveness....that never existed during the former government....this person almost sounds like a throwback to the old government...makes me go hmmm.....he says you need a long time to wait of a law to pass.....I'm thinking this is the sign of a person resistant to change....get with the program.
The fight against organized crime gang arrested promote fake currency difficult to detect
While crime gangs are attempting to pass off high grade 10K notes of IQD within Baghdad, the Organized Crime group goes about it's merry way of combating them, infiltrating as a dealer.....and is able to identify the high quality notes and make a number of arrests while confiscating 12,5000,000 dinars in the operation.....you play the game you pay the price.....and the name of the game is arrest and prosecute.....equals....jail time.
Government launches soft loans for job seekers in seven provinces
Seven Iraqi provinces are on their way to getting soft loans for those seeking work....this all is set to start on February 10th....just before that date of the 12th.......five other provinces will start the process on February 15th.....this will be started by the Ministry of Labor and Social Affairs electronically and is a move to simply some of the process and eliminate extortion of some people.
Economic attributes the decline in value of the dinar to determine the central bank sales of dollar ceiling
According to the head of the Economic Information Center the decline in the value of the dinar over the past few days is related to the budget constraint that Article 50 puts on the CBI auctions capping things at 75 million dinar per day.....saying there has been negative reaction to the new requirement, especially since the bank had been auctioning at levels of 150 or more million per day.....leading to speculators to step in and start making buys....
They are saying that Article 50 requires additional supportive laws that will contribute to the preservation of the IQD.....recent measures taken by the CBI though are believed to be taken in an effort to support economic development.
Watermelon: Parliament taking into account the rise in global oil prices in the budget
Remember recent talks of a supplemental budget.....maybe it comes into play sooner than later as the Iraqis watch oil prices starting to run back up again....especially that of Brent Crude where it jumped today over $58 a barrel.....they have language in this supplemental budget that will allow them to ride the crest of the oil as it moves upward again.....what they are watching at this point are futures prices, not current day prices.
Planning: approving the budget shares for activating the three economic laws
They are talking three economic laws....customs tariffs, further protection of the domestic product, and consumer protection....all tied to the budget....and all capable of providing stability for the Iraqi citizen.....this creates movement towards buying and selling within the market, creating productive sectors within Iraq and stimulating an economic recovery and more jobs at the same time.
Economy and Investment parliamentary: the government and parliament are keen on the success of any opportunity to provide the Iraqi economy diversity
The Iraqi government is high on any opportunity that may be able to help with regards to economic diversity.....the Commission on Economy is sure that a conference on investments and investment law legislation is not enough by themselves to stimulate things....a package of laws are what is necessary to invest in the future of Iraq.
Shaways offers more than a dozen proposals to promote investment notably the abolition of "laws inherited"
Deputy Prime Minister Shaways is finally offering up something that should be seen as a solution to many issues and differences of opinion across Iraq....the abolishment of many laws that have been inherited over the years that are no longer effective for one reason or another...he is suggesting these laws be swept away and new modern laws be implemented in their place that are reflective of Iraq today and of the times....
And this is especially so on the level of energy.....many of the laws in question are inconsistent with the current investment policies and economic development strategies of the state....one of the biggest fights is with red tape and attempting to develop the means to streamline processes....Shaways believes in the process that returns responsibility to the local levels as well as the ability to fight corruption.
Launch of the first International Conference on Investment in Baghdad
The first International Conference on Investment has been launched in Baghdad today.....in attendance are a number of government officials, Parliament members, and investors from both inside Iraq and from the international arena.
Araji offers five solutions to achieve "a quantum leap in investment."
The chairman of the National Investment Board presented five solutions that can push Iraq into a quantum leap with regard to investments.....the first thing is to take apart the bureaucracy associated with how investors can enter into the Iraqi market....he states that land can become an issue with an apparent reluctance on the part of the owner.....apparently in the past they were offered next to nothing and this must change.....
There needs to be changes in the Law 94 of 2004, the Banking Act....there must be some intervention by the CBI and private banks...money must be fronted with zero interest to draw in some investors as it is done in other countries.....he spoke of the removal of "entanglement"....
I take this to mean more red tape of one sort or another.....also a number of other initiatives that include education training and broadening the scope of things into other sectors over time......there is a recommendation for a second amendment to the investment law that would be consistent with these recommendations.
Kikhany for "direction Press": the transfer of powers from the center to local governments will begin mid-August next
Mark this date, August 15, 2015.....the date that transfer is supposed to take place of powers from the central government to the local levels.....I'm of the opinion that some of this has already started.....this may include 8 ministries being transferred to the local levels as well.
Submit a draft labor law for the second reading
A draft of the Labor Law is being given to the Speaker of Parliament for its second reading in the coming days....will be watching to see if this makes the agenda of the next session which I think occurs on the 10th.
Council of Ministers approved the recommendation of the Committee on Economic Affairs inclusion cargo customs tariff law
The COM during its regular Tuesday meeting approved a recommendation from the Committee on Economic Affairs for the inclusion of cargo imported into Iraq with the tariff law....let's hope this works better than their attempt at the beginning of 2013 or 14....when it basically flopped....but then we have a more proactive government in place.
Shaways television Range: meetings of government different from its predecessors .. but Anard the presence of the National Guard in Kirkuk
Deputy Prime Minister Shaways talks of the National Guard needs and points to the fact that the Kurdistan has the Peshmerga so there is no need to bring the National Guard there, simply use what the Kurds already have in place....my thought on that is use the Peshmerga maybe as a pattern for other units of the National Guard......they have their act together.....Shaways does call for additional arms for the Peshmerga to aid in their fight against the DAASH terrorists and warned that if other countries stand by idly and do nothing terrorism will continue to expand and arrive at their borders as well.
A delegation of the parliamentary energy to visit the region next week to discuss oil deal with Baghdad
A Kurdish delegation led by the Kurd President Barzani will be meeting with PM Abadi and other ministers on the recent oil agreement between the two entities signed on December 2nd, 2014.....they will be ironing out additional differences that remain...this sounds like it could be some of the final efforts of the COM committee on oil and gas that are rewriting the HCL and then it will be submitted to the Parliament for readings and a vote.
Jnataqh to the process of resolving the enactment of the oil and gas law after the amendment drafted
Work continues by the COM committee on oil and gas to rewrite and restructure the law so as to meet today's needs and concerns associated with the recent turn of events on the global scale......make no mistake the oil and gas law is coming.....it is to be included in the next "phase" of things with the Parliament....look for it to be approved without a great deal of arguments that it was witness to in the past....all of Iraq stands to benefit from this effort....bring it on.
Governor of the Central Bank Investment Conference: support bank liquidity
I wondered if there would be anything come of the Article 50 in the budget putting a cap on CBI auctions at 75 million dinar per day.....so the governor is going on record as recommending that the COM question the validity of this action as impacting the independence of the CBI......sounds like the conference is being well received....they know they have areas where work is needed and they are making inroads in those areas....IMO...it will take far more than just a conference to revive the economy....the conference may be seen as the kick-starter of things....but keep the ball in play in the coming time.
Karbala, calling for a full survey of the oil entering the map
Karbala believes they need to have their seismic maps redone....or maybe done for the first time.....they believe that oil lies beneath their sands....in addition to highest proportion of silica in the world.....double whammy they have.....IMO...there are many areas of Iraq that have yet to be adequately seismigraphed and who knows what oil will be found in some of their frontier areas.
Member of the parliamentary Finance's (et) amounts of national reconciliation does not constitute an obstacle to the approval of the budget
Remember everybody has an opinion.....now a member of the Finance Committee is saying that the 25 billion dinars set aside in the budget will not constitute any obstacle regarding the final approval/signature of the budget.....someone just yesterday or the day before said it would be a hinderance.....believe me....if they see they need more than 25 billion to put this conference on....more will be found and allocated....trust me on that.
Economic Cabinet recommends to challenge materials contained in the budget, "intersect" with the independence of the central
Frankly I am surprised it took this long for this issue to be raised....the CBI is independent of the Parliament efforts and I was quite surprised at the writing of Article 50 in the budget....not sure who is the author of this attempt to control the CBI....will be interesting to see how this episode of things plays out for the CBI....they are already claiming that the attempted cap of 75 million dinar per day is having an adverse reaction on the exchange rate.
Reform Bloc: Adoption of the oil law will solve all the problems of oil between Baghdad and Erbil
While the oil and gas committee within the COM continues to work on the wording of the new oil and gas law they do admit to a consensus in principle of the law...the COM is expected to tee this up after they push the National Guard law over to Parliament..."just push it"....."push it real good".....which happened I believe yesterday...
So let's see what the committee work has resulted in for the oil and gas law and just say....."On with the show"......the COM knows full well the benefit to all of Iraq that will be forthcoming with the oil and gas law......meanwhile the Legal Committee wants to see things sped up in the processing of the oil and gas law by Parliament....again...."just push it."
Taking a breather and will end things here, enjoy. Aloha Randy