aggiedad77 » June 3rd, 2015,
Wednesday News Summaries and Commentaries
Hundreds Aldoaash air strike killed a convoy coming from the Syrian border
"Mercy sakes alive.....we got us a convoy"......well.....we had us a convoy.....look again...'poof' they are not there now thanks to International Coalition air strikes what once was is no more.....DAASH is being forced into defensive positions and in some cases forced to run and try to make it back into Syria but they are finding many escape route cut off,
They are discovering that many so called "hidden dens" are being exposed and are being wiped out. The Iraqi's don't have the DAASH terrorists where they want them just yet, but their offensive efforts are starting to show better results especially in and around Ramadi and surrounding areas.
Expert: Decentralization promotes economic advancement in Iraq
Decentralization....coming to a province near you....maybe as early as August.....at least for some select ministries.....some economists point to this minimizing corruption....but IMO it may just refocus it's potential at a new level.....checks and balances need to be in place to assure this doesn't happen. Hopefully they will see some economic improvement through the reduction of positions required in the central government....but will those positions just naturally gravitate to the provinces and be picked up in respective province budgets going forward.
Oil is seeking to stabilize the global market and likely to maintain the current production ceiling of OPEC
OPEC meets this weekend in Vienna Austria and it sounds like they are not expected to make any changes in their current production rates which stand at 30 million barrels of oil per day....and Iraq is committed to keeping their efforts about the same too.
"Red list" the effects of Iraq is threatened with destruction, smuggling
Iraqi antiquities and cultural artifacts are making a "red list" that may help to better protect them being stolen, providing dealers and other professionals necessary information to guard against the trading of such illegal items....it is well known that DAASH has been destroying many Iraqi antiquities in the areas they have had control....what will be the consequences of their actions....probably death in many cases but not through any court system....more likely at the hands of Iraqi Security forces and the International Coalition air strikes.
Kurdistan's parliament approves law on foreign borrowing
So the Kurds have voted to establish a line of credit, up to $5 billion dollars.....chicken feed at their level....to be used to fund projects....not salaries.....just remember guys that which is borrowed must some day be paid back....be very careful what you ask you for.
Kurdistan province is planning to revive the manufacturing sector
The Kurds are attempting to revive some of their manufacturing sector....some of the factories that are state owned...as well as projects that are agriculture based.
Central Bank supports small and medium enterprises with five trillion dinars
The CBI is making available 5 trillion dinars for banks to use in making loans to small and medium business entities....this is a further attempt to stimulate the economy.....Iraq is near the bottom of the pool when it comes to making loans available to businesses.
Association of private banks: the banking rate of growth fell to less than 15% of Baghdad
Banking growth in Iraq had been above 20% in the recent past but most recent statistics put growth at less than 15% today....this is largely blamed on security issues throughout the country over the past year coupled with a stagnating growth pattern for the past year or more.....what took 8 years to tear down will be slow to rebuild....but have faith.....the BEST is yet to come.
Babylon receives 10% of its budget for fiscal 2015 and calls for the province to pay for the development of regions
Babylon is offered just 10% of its annual budget based on the 2015 budget numbers, this amounts to 18.6 billion dinars....this is just a drop in the bucket for what it takes for them to operate....as they say....an embarrassment.....not sure they could pay for garbage collection out of this....but something is better than nothing I guess.
Parliamentary Finance defends tariff and confirm it increases the purchasing power of the citizen
Famous last words out of the mouths of those in the Finance Committee.....we are here to bring tariffs into being come August 1 and NO there will be no rise in prices for the Iraqi citizens....remember those words.....the citizens seem concerned and I fear rightfully so....how can you impose a tariff on goods being imported and not expect some price increase to the consumer....time will tell.
Economist: Sales taxes came at a bad time and it will be doomed to failure
Yes the politicians are saying taxation is a good thing and will not affect the consumers.....yet the economists are saying just the opposite an imposition of taxes at this time of severe austerity efforts is like a slap in the face to Iraqi citizens and to think that price increases will not follow is rather shallow thinking on the part of the politicians...."I'm from the government and I'm here to help you" sort of image that is conjured up for me.....there has to be a better way to stimulate the economy and push the private sector to thrive as they have not done so in recent years.
Vice: The United States entered a broker between Baghdad and Erbil to resolve the oil dispute
Enter the US into the fray between Baghdad and the Kurds over oil issues.....this might work if those who are going to mediate for the two entities comes in without a political background or agenda....let them have a strong oil and gas background that has a detailed understanding of how such an agreement needs to work to make everyone happy.....a politician may not have the wherewithal to make this happen.
Reuters: Kurdistan halted the transfer of oil to SOMO
Last month the Kurds threatened this action and now early in June they seem to have followed through with it...cutting off oil transfers to SOMO, the Iraqi oil company....the Kurds are serious about the marketing of their oil exports and want Baghdad to pay closer attention to what is being exported and stop coming up with numbers short of what is expected from the Kurds....plus the Kurds are asking for and expecting a payment for their efforts that was agreed upon, 17% of the budget, which they have yet to see fully deposited into their accounts.
Ebadi, an adviser to calls to install Governor of the Central Bank confirms: no one dares to turn it into a commercial bank
MAYBE THE ARTICLE OF THE DAY/WEEK/MONTH.....installation of a "real" governor for the CBI....it's about time....who will it be....of course we hope and expect it to be Dr. Shabibi if he would be accepting of the reinstatement....but short of that, my prediction outside of Dr. S would be the other "Dr. S"......Dr. Saleh, the current economic advisor to PM Abadi....after all he has prior experience and this would be a promotion for him, and he definitely understands the autonomy that the CBI needs to operate under, free of political control and pressures....this person needs to be strong willed to keep the CBI from being made into some commercial banking entity.
Turaihi: Parliamentary Integrity Committee will submit its report by the Central Bank
This is the report that I've been waiting for....time to prove the Fin Comm right or time to shut them up.....they keep pointing fingers at the CBI regarding corruption....but what does the Integrity Committee have to say about this....their report should be worthy reading.
Reports: 4 pledges from the international coalition against 7 promises Abadi achieved within 3 months
So PM Abadi has three months to produce 7 promises in return for 4 pledges from International Coalition countries.....produce the National Guard Law, national reconciliation, cancel judicial arrests where they were politically motivated, and adopt the amnesty law.....things that are all in the works....Abadi will need to put pressure on Parliament to make some if not all of this happen....will he ask/demand they return to work early to give themselves plenty of time to make all this happen.....what does he get in return....an attempt by the International Coalition to dry up funding for DAASH...not sure how they will effectively make this happen...and a crackdown on the media who seem to side with the terrorists....Abadi seems to have gotten the raw end of this deal if you ask me.
Badr bloc: the oil agreement became legally binding for "Iraqi Kurdistan"
So one political bloc is saying the oil agreement between Baghdad and the Kurds is legally binding for the Kurds....I might add that it is a two way street and is equally binding for the Baghdad government.....the Kurds deliver oil...but little to no budget money flows back to the Kurds.....both sides may have some guilt here and need to straighten up their acts....I see the Kurds exporting the prescribed amounts, or close to it....but I do not see a commensurate amount of money being provided to the Kurds....so who is at fault here....iron the deal out.
US intelligence provided information to the Iraqis or to Daash Press direction - special
Iraqi Special Forces are getting intelligence data from US sources and others who have infiltrated DAASH communications and are able to share such data in effective manners that give Iraqi forces good information leading to greater successes in their ground fighting with DAASH in many areas.
Expert: the issuance of the two categories of the fifty and one hundred thousand "unfortunate step"
More media hype from an "expert" who is not affiliated with the CBI designed to excite people over something that is not meant to be....listen to the CBI....as a sidebar here...remember....the Fin Comm has no control here....only opinions same as this "expert."
Islamic State militants use water as weapon in western Iraq
The DAASH forces in Anbar have shut down the outfall from a dam on the Euphrates River, thus creating the means for them to attack Iraqi Special forces by merely "driving" across many areas of the river that were formerly unfordable due to water depths....pesky actions on their part....call up some concentrated air strikes I would think....meanwhile this curtailment of water flow may lead to drought issues for provinces further down the river over time.
Iraq asks sooner a loan from the International Monetary Fund
New month, new loan request....another $850 million from the IMF is being requested....this amount sounds like it will be used to help fund fighting against the terrorists for the time being....Zebari is saying he expects to see revenue coming in from tariffs that start August 1 on imports....to me that will be a slow thing if it happens then....don't count your chickens.
Taking a break Family.....there is a great deal of news to be perused today....enjoy.