aggiedad77 » February 25th, 2015, 1:10 pm
Wednesday News Summaries and Commentaries
More news today from the CBI as they implement their new mechanism of currency purchases.....Parliament is gearing up to pass a number of important laws......economists and experts are still squawking about Iraqi economics it seems.....preparations for the attack on Mosul continue.....expect a salary payment to the Kurds tomorrow.
Rivers gives 17 million dinars for people wishing to buy a car
Iraqis are getting upwards of 17 million dinars to purchase an automobile.....payments are only 350,000 dinars per month....wonder where they will be getting that kind of cash.
Central Bank starts the application of a new system of couriers
Today the CBI announces a new system of cash remittance of dollars through the mechanism they have implemented that will protect the economy and the exchange rate against the dinar.....the CBI claims this new system does not force the bank to rely on the dollar for sales with banks and banking companies.....since their inception in 2004...more or less, the CBI has conducted daily currency auctions.....because their currency was set at a programed rate they were not in the business of exchanging currency as other central banks around the world who are not set on a program rate....so why the change this week....what is changing....something that we have yet to be privy to....mighty interesting.
Central Bank starts the application of a new system of remittances and dollar selling
One more of many CBI articles published today that all say basically the same thing....only I want to point towards one thing this article mentions.....they talk about a new system of "cash transfers" and how this new mechanism will protect their economy and support the dinar.....they deny they have stopped selling the dollar....just have halted or ceased the auction process.
National Alliance for "direction": US statements about the liberation of Mosul aims to highlight America
A member of the National Alliance coalition is being critical of the US, pointedly so at Washington for attempting to show the hand of the invasion date of Mosul to the enemy......it is Iraq's decision to make not the US they are saying.....and it is not a wise thing to tip one's hand to the enemy.....wake up Washington...especially o......please understand Iraq that he has no military background.
Consultant Abadi: a central bank in the sale of money orders to prevent money laundering
Today Dr. Saleh spoke on behalf of the CBI stating that the auctions have not stopped...but are being applied on a limited basis for the sale of currency through remittances only and this is done to protect against money laundering and speculation....in other words to protect both the dinar and the economy.....so if he auctions have not stopped why are they then cloaked so as to be unseen by the public.....how are things different.....
He states that as always the CBI's monetary policy is designed to protect the dinar by maintaining its purchasing power and at the same time keep illegal operations associated with the dinar at bay....what they are doing is evolving...
IMO....from their former operation of currency auctions at large volumes....they are now dealing more in the way of cash flows through remittances with associated banks and banking companies that are authorized to deal with them....lower volumes perhaps but still in ways that require protection of the dinar to keep it strong and at the same time maintain a low level of inflation, around 2-3% I believe....
which in turn protects their economy.....they have not completely divulged the full details of this new mechanism and hopefully we will be hearing more soon on it.
Araji: The government fulfilled its obligations and the other does not want political stability to continue
One of the deputy PM's points out that the government, the COM, has fulfilled its obligations by putting a number of important laws in front of Parliament, the National Guard Law, the Justice and Accountability Law, the Federal Court Law to name a few....but the ball is in the court of Parliament to keep the full court press on.....they must do their job and not be hindered by terrorist activities or the desires of small groups who want to see this government fail...these kinds of groups do not have the best interest of the country at hand.
Special / Barzani would sack during the hours of the Minister of wealth to change the oil policy of the Kurdistan
Pressure is on the Kurd President Barzani to remove his Minister of Natural Resources and to make changes in their regional oil policy...meanwhile a member of their Movement of Change is calling for Baghdad to be held accountable for the salary money owed to the Kurd employees....he points to the fact that he knows his government has borrowed $2 billion dollars from Turkey to pay some salaries....something that was a shock to some people of the region.
Cabinet allocates crowd budget
The COM recently committed to providing $60 million dollars to the Popular Crowd for the implementation of the capacity building project.....there was an article yesterday that pointed to the idea that PM Abadi was getting a jump on any coup effort by Maliki and provided this funding openly to this group that he allegedly is behind as its leader.....the use of the money will be closely watched and if it even appears to be going in the wrong direction the appropriate people will step in and take control of things....
Maliki is not going to get the luxury that he wants to attempt to bring Iraq and this government to its knees....IMO....to allow this group to form a National Guard effort will mean that each of their members who are issued a weapon would have to be closely watched to be assured they only use that weapon on DAASH terrorists not follow Iraqis.
Investigative Committee on Mosul demanding Parliament to extend its work for another month
The committee charged with investigating the invasion of Mosul by DAASH last year is about ready to present its preliminary report to Parliament but is currently asking for a month extension to wrap up final interviews that exceed 15 people at this point in time...and Maliki's name is on that list....by all means give them whatever time they need to drag these last few over the coals for what was done to Mosul and Iraq.
The federal government paid 250 billion dinars to the Kurdistan region for the salaries of its staff
250 billion dinars will be headed to the Kurdistan probably tomorrow as a partial payment of January salaries...this is seen as a goodwill effort from Baghdad who is having a liquidity crisis at the moment.....both groups remain committed to the agreement signed in December as well as what appears in the 2015 budget law.
Basra, Iraq's capital demanding economic
If a title means anything to anyone it looks like Basra has earned the new title of Economic capital of Iraq....according to President Masum's words recently spoken while visiting Basra this week....he is committed to taking measures before the government to make this happen and says that Basra has earned that right as being the bread basket for all of Iraq.
Abdul-Mahdi: the distribution of oil resources and follow moving tax policy reform of the fundamental pillars of the economy
Oil Minister Mahdi says that the success of Iraq's economic reform sits upon two pillars....distribution of oil resources and implementation of the tax policy.....part of what he speaks of here is the HCL...the reward and honor being given to all Iraqis...that is GOODER News.....this combined with an effective taxation policy will bring an end to economic issues within Iraq today.
Citizen block looking with infallible legal activate Basra Iraq's economic capital and the provinces
The Citizen Bloc is being supportive of the effort to bring Basra the title of economic capital of Iraq....such action is believed to also bring even greater boom efforts to the Basra area and province....PM Abadi also is supportive of this effort for Basra....leaving on the Parliament to vote upon such an effort.
Shammari announces submission of a draft Senate bill to the Cabinet for approval
A member of the Legal Committee and the Virtue bloc is calling for a new political body called the Senate and Council of Elders.....saying this will be submitted to the COM for a vote of approval....this effort is being supported by the local council in Karbala and states that such a council will help to maintain unity within Iraq....it meets the requirement of the Constitution and would be of a consultative status...it would consist of multi-religious sects that can help to resolve issues between local clans....
This sounds like a pre-emptive effort on the part of Karbala for what they are expecting from the government in the way of laws being pushed out towards the local entities to decentralize the federal government.
World Bank, Iraqi Kurdistan govt launch a program to strengthen social protection
The World Bank Group and the Kurds have implemented a program that will bring about equality in living standards and provide opportunity for Kurd peoples....it is part of a social protection program for Kurds.....this is part of a long range program meant to build resilience in the people designed to help them withstand crisis.
Gulf Keystone Petroleum eyes potential sale over delayed payments for oil exports from Iraqi Kurdistan
Gulf Keystone Petroleum is looking at possibly selling some or all of its Kurdistan assets due largely to lack of payments for oil exports...this is a domino affect of no payments for a period of many months within the Kurdistan.
Bogus university graduates clog Iraqi job market
Illegal university certificates are starting to really bog down the Iraq job market for degreed professional employees....numbers are soaring and by reports there are far more than there should be....even to the point where some certificates are being issued by unrecognized, unknown universities.....not a good thing for the job market or those fighting for the few jobs that come available.
Billion dollars smuggled to Iran via dealers and front companies in Dubai and Iraq
Iran is hurting for USD in which to do business with the rest of the world....due to sanctions placed on them by Western countries...so they have established a money smuggling system that brings USD's to them by way of Dubai and Iraq....it seems that "front" companies are being used to bring funds into the Iranian central bank....they are implicated in the operation as well....not a good thing....but what will countries like the US do to them....after all they are trying to be buddy buddy with them at this point...at least o things he is.
Return an exchange of accusations between Baghdad and Erbil threatened to unravel the oil agreement
I believe here is an article written purposefully as a scare tactic trying to illustrate that conflict between the Kurds and Baghdad is much more involved than either party wants to let on.....both sides have been saying they want the same thing....yes for sure there are differences....but those can be ironed out.....talks are far from a standstill and the last thing they need is for the media to go on a war in such a way that it starts to turn opinions against one another....it is a well known fact there are political parties within Iraq that want to see this deal fall apart....State of Law is one that quickly comes to mind.....they hope it would cause the current government to crater.....but I don't see that happening.....look for better results in the coming days between PM Abadi and PM Barzani.
Speaker of Parliament calls for cooperation between the authorities and bodies to speed up the legislation of important laws
Parliament Speaker Jubouri is asking the authorities and bodies associated with Parliament to speed things up on their side of the ball, these are likely the various committees and experts who are called upon to review various laws before they are read and voted upon......he is looking at every avenue to streamline the voting process for the laws that are currently on the table to expedite them out of Parliament.
The flow of US arms to Iraq before the attack Mosul anticipated
The US Department of Defense is looking to ship about 10,000 firearms and another $17.9 million in military supplies to Iraq in preparation for the attack on Mosul....a great amount of other personnel type equipment and armored vehicles have already been delivered to Iraq along with ammunition supplies....meanwhile complaints have risen that state the US is signaling to the terrorists the intent of the impending attack....so much for secrecy these days.
Erbil aspiration consuls of foreign countries on its agreement with Baghdad and Tazzoa problems to the "financial crisis" and Daash
Yes there remain differences between Baghdad and Erbil over oil agreements and yes they continue to talk and try to work out some kind of resolution so that both parties will be satisfied.....the Baghdad side has committed to a partial payment of January salaries intended to be delivered tomorrow.....but Erbil is still contemplating stopping the flow of oil if Baghdad does not come to the table with any better resolution than before......Baghdad on the other hand is saying that the Kurds need to be realistic in their pricing of oil revenue expectations....base it on real prices not some price that existed 6 months ago or so.
Basra calls infallible to approve the oil law privately Baghdad and longer tours licenses "breach" legally
The Board of Basra is calling upon President Masum this week to get the oil and gas law approved and to see to it that the provinces are again involved in the licensing of companies and contracts....they expect the new oil and gas law to help regulate oil matters between the state and the provinces and welcome getting the local governments back involved in the process.
Dry: the oil agreement between Baghdad and Erbil gained legal legitimacy
The articles on the oil issues between the Kurds and Baghdad are all over the map.....this one is more positive saying that upcoming meetings will look at the reasons behind no salary payments to the Kurds....they believe the efforts with the oil and gas agreement are solid.....the differences there can be ironed out....that whatever differences remain outside of the salary issue can be resolved.....we shall see how things progress in the coming days.
Conscious / Committee on Economic Affairs held its fifth example, has typically led by Nuri Shaways
The Committee on Economic Affairs held another meeting, led by chairman Shaways......they have successfully worked through a number of project decisions....and appear to be working together as a cohesive group as they resolve past issues that would have otherwise caused work to bog down down due to lack of effective leadership.
Consultant Abadi: a central bank in the sale of money orders to prevent money laundering
Dr. Saleh speaks about the CBI mechanism changes that are occurring this week within the bank....stating that the sale of currency through remittances through the processing of money orders going forward would be a means for the bank to prevent money laundering activities that others have been concerned about....this whole process appears to be evolving and may require a few days to fully learn of how the process will work.
Abadi for volunteers: we will come out of the financial crisis, and some wanted to raise a fuss of the postponement of payment of staff salaries
PM Abadi believes that Iraq will emerge from the current crisis and be stronger from it....he is seeking young volunteers to help those who have been displaced and at the same time it will provide them with a greater sense of the principles behind volunteering....on the budget he recognizes that currently the military takes a big chunk of the budget and this is not appropriate in his mind....but DAASH must be dealt with and swiftly to allow finances to go in a better direction.
Kurdish MP: Shiite Militia More Dangerous Than Islamic State Islamic State is temporary and will be destroyed, says Kurdish MP
One Kurdish MP reports that ISIS is a threat they can deal with....a short term threat.....but he sees the Shiite militia to be an even bigger threat if Baghdad is not effective in maintaining some level of compliance and authority over this militia.....well I do not believe that PM Abadi will give unlimited powers to local militias, I don't care what religious sect he associates with....he is a leader of this country first and forement....and is not a dictator like his predecessor turned out to be.....give the man time and credit for doing the right thing and stop trying to stir the pot.
Because of smuggling and money laundering operations .. Central Bank suspended currency auction begins remittance system
AT LAST A STATEMENT FROM THE CBI....... we are stopping or suspending the currency auctions as we implement a currency remittance system.....the governor of the CBI reiterates for the umpteenth time.....we are not infatuated with the auction system.....the new remittance system has been designed to eliminate money laundering and smuggling.....give this new system some time to work and breathe.....so at last the CBI confirms that auctions have ceased.
Aajl..gam warns of entry relationship center and the region in a dark tunnel "is difficult to get out of it."
The Islamic Supreme Council leader warns of heading into a dark tunnel with the negotiations between the Kurds and Baghdad and caution needs to be exercised with what the media is printing as news.....I told you so.....the media is NOT your friend....people put all too much faith in what is fed to them by the media....but I can assure you from personal experience over a time of several decades....the media is NOT your friend....do not allow them to twist the truth....it should be their responsibility to report the truth...but today they lack that ability to birddog it and find it.
The Federal Court decision to replace a number of members of parliament legally
Yesterday's court decision to replace a number of Parliament MP's is believed to be on the up and up and legal.....so says the Federal Supreme Court....a quick reaction from them....good.
Salaries and allowances of advisers cost the state $ 100 million
Advisors do not come cheap.....bundled together they approach $100 million but according to PM Abadi they are only about 1% of the budget process....but they are still being looked at...their sheer numbers that is and are all of them justified.....I mean when someone's dog groomer has to have an advisor....oops...wrong country.
Parliamentary Integrity emphasizes follow-up to send two billion dollars and a half into the region
Wow the Integrity Commission is all over this alleged $2.5 billion dollar movement of money between to the Kurds for salaries....this money supposedly went from the Trade Bank of Iraq to the Kurds without any guarantees placed on it.....the Commission claims that if it is indeed true it will likely implicate the Finance Minister Zebari...I hate to hear that as he has proven in my book at least to be a good guy....one of the real ministers in Maliki's former government.....he was Foreign Relations Minister for M and wasn't on the take......but we shall keep track of this investigation.
Maliki ... Details lawsuit against him
WOWSER.....will just say his list of charges is almost as long as my news summaries this morning.....the noose.....I mean the plot thickens.
Stopping here ....you boys have kept my fingers busy this morning....thanks for the work out. Aloha Randy