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Iraq an economic Study

 
calin

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05/06/2013 08:54 AM
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Re: Iraq an economic Study
Does this say they're going to pass HCL this week? The current session ends on the 15th, btw.


Monday, May 6, 2013 13:52
Adoption of a compliance mechanism for a vote in the House of Representatives





Baghdad / Baghdadi news / .. Said the spokesman of the Kurdistan Alliance MP pro-Tayeb, on Monday, the agreement of the political blocs to adopt vote in accordance to the laws listed in the House of Representatives, unlike the previous mechanism, which was based consensus.

Al-Tayyib told / Baghdadi News /, that "the law of oil and gas of the most important laws needed by the economic side, and that future meetings of the Council of Representatives, will see the first reading and the second and the drafting of the law by specialized committees in preparation for a vote in parliament." Taib ruled out postponing the law for the next parliamentary session. "
He added that "during the meeting between the delegation of the Kurdistan coalition force and the National Alliance was agreed to approve oil and gas law during the current parliamentary session."
Observers believe that the House of Representatives is trying through the adoption of a compliance mechanism, to avoid delays in the approval of many of the laws pending. Added to avoid any potential withdrawals to parliamentary blocs may affect the quorum in the House of Representatives during the coming sessions and therefore the inability to pass Laws. As happened during the adoption of the budget session ended / 21


Read more: [link to dinarvets.com]
 Quoting: ReVbo™

Sounds like it to me! ;)
ReVbo™
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05/06/2013 09:02 AM

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Re: Iraq an economic Study
Does this say they're going to pass HCL this week? The current session ends on the 15th, btw.


Monday, May 6, 2013 13:52
Adoption of a compliance mechanism for a vote in the House of Representatives





Baghdad / Baghdadi news / .. Said the spokesman of the Kurdistan Alliance MP pro-Tayeb, on Monday, the agreement of the political blocs to adopt vote in accordance to the laws listed in the House of Representatives, unlike the previous mechanism, which was based consensus.

Al-Tayyib told / Baghdadi News /, that "the law of oil and gas of the most important laws needed by the economic side, and that future meetings of the Council of Representatives, will see the first reading and the second and the drafting of the law by specialized committees in preparation for a vote in parliament." Taib ruled out postponing the law for the next parliamentary session. "
He added that "during the meeting between the delegation of the Kurdistan coalition force and the National Alliance was agreed to approve oil and gas law during the current parliamentary session."
Observers believe that the House of Representatives is trying through the adoption of a compliance mechanism, to avoid delays in the approval of many of the laws pending. Added to avoid any potential withdrawals to parliamentary blocs may affect the quorum in the House of Representatives during the coming sessions and therefore the inability to pass Laws. As happened during the adoption of the budget session ended / 21


Read more: [link to dinarvets.com]
 Quoting: ReVbo™

Sounds like it to me! ;)
 Quoting: calin


Cool. I just wanted another opinion because they could have the editor of the Oxford Dictionary say it in perfect Queen's English and I still wouldn't believe it.
Rev. 21:4 He will wipe every tear from their eyes. There will be no more death or mourning or crying or pain, for the old order of things has passed away.
calin

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05/06/2013 09:06 AM
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Re: Iraq an economic Study
Does this say they're going to pass HCL this week? The current session ends on the 15th, btw.


Monday, May 6, 2013 13:52
Adoption of a compliance mechanism for a vote in the House of Representatives





Baghdad / Baghdadi news / .. Said the spokesman of the Kurdistan Alliance MP pro-Tayeb, on Monday, the agreement of the political blocs to adopt vote in accordance to the laws listed in the House of Representatives, unlike the previous mechanism, which was based consensus.

Al-Tayyib told / Baghdadi News /, that "the law of oil and gas of the most important laws needed by the economic side, and that future meetings of the Council of Representatives, will see the first reading and the second and the drafting of the law by specialized committees in preparation for a vote in parliament." Taib ruled out postponing the law for the next parliamentary session. "
He added that "during the meeting between the delegation of the Kurdistan coalition force and the National Alliance was agreed to approve oil and gas law during the current parliamentary session."
Observers believe that the House of Representatives is trying through the adoption of a compliance mechanism, to avoid delays in the approval of many of the laws pending. Added to avoid any potential withdrawals to parliamentary blocs may affect the quorum in the House of Representatives during the coming sessions and therefore the inability to pass Laws. As happened during the adoption of the budget session ended / 21


Read more: [link to dinarvets.com]
 Quoting: ReVbo™

Sounds like it to me! ;)
 Quoting: calin


Cool. I just wanted another opinion because they could have the editor of the Oxford Dictionary say it in perfect Queen's English and I still wouldn't believe it.
 Quoting: ReVbo™


This one was at least translated in a better fashion that even I could understand it! haha
ReVbo™
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05/06/2013 01:52 PM

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Re: Iraq an economic Study
Barzani, President of the Republic next
Iraqi Al-Mustaqbal - 05/06/2013
-
The future of Iraq / special information indicates that leaks between now and then that the negotiations that took place between the national and Kurdistan coalitions recently in Baghdad resulted in undisclosed agreements between the parties, including granting the office of President of Kurdistan Region President Massoud Barzani.
-

It was much debate on this position after the current absence of President Jalal Talabani for months because of a stroke he suffered in evacuated to a German hospital for treatment. And informed political sources revealed the approval of Prime Minister Nuri al-Maliki to give the post of President of the Republic of regional president Massoud Barzani, instead of the current president, Jalal Talabani.
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The sources for the future of Iraq »that« Barzani became closest to the office of President of the Republic instead of Talabani after the approval of al-Maliki. The sources pointed out that «the return of ministers and deputies Kurds to Baghdad came against the backdrop of this agreement, which was born to have a great satisfaction and make them give guarantees for the owners to cooperate with him and pass important laws in the House of Representatives.
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In conjunction with this, confirmed for the National Alliance MP Samira al-Moussawi that the Kurdistan Alliance will nominate a personal rather than Talabani for the position of the latter, stressing that the country needs to occupancy of the position. Moussawi noted that the nomination of a personal rather than the president goes back to the Kurdish leadership because the position of the Kurds share. She added that the need for the position of President of the Republic present and waiting to fill, noting that the Kurds are familiar put Talabani and whether it can exercise its role or he needs a long time for treatment.
-
http/www.alrafedain.net/index.php?show=news&action=article&id​=99526
Rev. 21:4 He will wipe every tear from their eyes. There will be no more death or mourning or crying or pain, for the old order of things has passed away.
ReVbo™
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05/06/2013 04:36 PM

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Re: Iraq an economic Study
Does this say they're going to pass HCL this week? The current session ends on the 15th, btw.


Monday, May 6, 2013 13:52
Adoption of a compliance mechanism for a vote in the House of Representatives





Baghdad / Baghdadi news / .. Said the spokesman of the Kurdistan Alliance MP pro-Tayeb, on Monday, the agreement of the political blocs to adopt vote in accordance to the laws listed in the House of Representatives, unlike the previous mechanism, which was based consensus.

Al-Tayyib told / Baghdadi News /, that "the law of oil and gas of the most important laws needed by the economic side, and that future meetings of the Council of Representatives, will see the first reading and the second and the drafting of the law by specialized committees in preparation for a vote in parliament." Taib ruled out postponing the law for the next parliamentary session. "
He added that "during the meeting between the delegation of the Kurdistan coalition force and the National Alliance was agreed to approve oil and gas law during the current parliamentary session."
Observers believe that the House of Representatives is trying through the adoption of a compliance mechanism, to avoid delays in the approval of many of the laws pending. Added to avoid any potential withdrawals to parliamentary blocs may affect the quorum in the House of Representatives during the coming sessions and therefore the inability to pass Laws. As happened during the adoption of the budget session ended / 21


Read more: [link to dinarvets.com]
 Quoting: ReVbo™

Sounds like it to me! ;)
 Quoting: calin


Cool. I just wanted another opinion because they could have the editor of the Oxford Dictionary say it in perfect Queen's English and I still wouldn't believe it.
 Quoting: ReVbo™


This one was at least translated in a better fashion that even I could understand it! haha
 Quoting: calin


My boy, Blue, pointed out the last paragraph in this article that may be even more important that the HCL part.

"Observers believe that the House of Representatives is trying through the adoption of a compliance mechanism, to avoid delays in the approval of many of the laws pending. Added to avoid any potential withdrawals to parliamentary blocs may affect the quorum in the House of Representatives during the coming sessions and therefore the inability to pass Laws. As happened during the adoption of the budget session"

Seems to me, that paragraph indicates that they want to get this basket of laws done ASAP as in this week. There would be no need for a new mechanism for passing laws if they were shooting to get them passed by September, which is when the next parliamentary elections take place (the other definition of "current session").



Last Edited by Revbo™ on 05/06/2013 04:37 PM
Rev. 21:4 He will wipe every tear from their eyes. There will be no more death or mourning or crying or pain, for the old order of things has passed away.
calin

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05/06/2013 09:31 PM
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Re: Iraq an economic Study
I too was happy to see that paragraph! :)
ReVbo™
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05/06/2013 10:17 PM

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Re: Iraq an economic Study
Shabibi is above my paygrade, but here's an essay of his with some interesting highlights. I'll bring the good stuff when the smarter guys weigh in.

The Central Bank and wasting money year

2013/05/06

Dr. Sinan Mohammed rida Al-Shabibi *


Excited much talk about foreign currency auction, hosted by the Central Bank as a waste of public money, and I would like to make some further thoughts on this topic.

1) there is no waste of public money as a result of the auction process, making her dinars to banks, the Central Bank, the dollar is replaced by using its foreign exchange reserves, according to the exchange rate, and therefore we are to swap cash disbursement. In other words, we don't give a dollar for free, so we are not to lose. The Central Bank shall receive 13 dinars for each dollar converts it. Central Bank of wasting money if we give free dollar or dollar swaps in dinars preferential exchange rates.The Central Bank also said public money wasted because it sells large quantities of dollars. But the sale of these quantities is in response to the request of the buyers, who represent commercial banks. It is very important that each request is an interview on the dollar after a bank audit in terms of banking, offenses and after the Bank has provided a citation that the students had undergone Audit Office money laundering at the Bank. To meet each request is essential in monetary policy, but the request does not meet him and saturation by the Central Bank will go to the market to satisfy his need to the dollar from another source, which will create another Exchange rate is necessarily higher than the Central Bank, so we will be in front of multiple rates of Exchange on the Central Bank and the local market. This would contravene the law of the Central Bank (rule # 3) and would hinder economic decision-making and distorts the price level. The International Monetary Fund which is Iraq the first signatories of the Convention says that the difference between the two prices (the rate of the Central Bank and market price) must not exceed 2%. At present, under the new administration, that the difference between prices close to 8%.When the Bank sells dollar it is monetary policy and not a commercial operation, selling the dollar pulled the dinar from circulation and relieves inflationary effects (the primary objective of the Central Bank), which serves to rationalize spending and lead to reduce wastage of public money.The change in the exchange rate is not a waste of public money and satisfy the demand for the dollar is not a waste of public money and must equal supply and demand to stabilize the price (the first objective of the Central Bank as stated). These market operations and our economy is an economy in transition to a market economy and openness as this accompanied by fluctuations in demand and supply affects the movement of cash. The important thing is to return the market to stabilize.I've just reminded us that the difference between the exchange rate of the Central Bank and the market price under the current administration is about 8%. The Bank did not indicate the cause of this difference, we believe that economically due to the failure of the Bank to satisfy every demand, leading to this disparity between the Central Bank and the market price, and this is contrary to article III of the law on the Central Bank. This disparity must be addressed (note that increased), and the old Administration has faced some imbalances and fluctuations in the exchange rate at the beginning of 2012 as a result of the high demand for the dollar because the US withdrawal at the end of 2011 and other regional conditions but the Administration managed to restore stability in the third week of September 2012, with the price of the dollar amount. 1196 Conclude if it according to the principles and the law of the Central Bank, there was a waste of public money, the first Central Bank to sell dollars for dinar, and secondly that the Bank in its work that meets the demand for the dollar and maintaining the stability of the exchange rate and domestic prices and provides the appropriate environment to keep the money and use it productively, which promotes sustainable development and contribute to job creation, as described in article 3 of the law on the Central Bank. 2) Central Bank sells dollars to banks that sold to customers for use in import of goods and services, and the business process and not the cash it gets outside the Central Bank, after that comes out of the Central Bank. So these business process is not related to the Central Bank, but is related to the various uses to which the dollar may be used for medical purposes, or for the purchase of certain assets or the holder may resort to so-called external saving for economic, security and political conditions improved and pending investment environment so this savings in whole or in part to Iraq.This means that the Central Bank should not be blamed if importing a small proportion of the amount granted, the Central Bank should not be held accountable for the business process. It is possible that the Central Bank be held accountable if there is a bug in Exchange for dinar, any cash operation. The waste of public money as a result of the business process, although its importance is not within the work of the Central Bank. 3) Central Bank to provide a copy of the requests for transfer submitted to the auction Commission to combat money laundering and terrorist financing in the Bank for the detailed follow-up (including follow-up to doubtful operations) Although the bank concerned to provide us with the martyrdom on the absence of money laundering operations. This circuit is that it must mainly be diagnosed and pursue money-laundering operations and the financing of terrorism inside and outside Iraq and (according to the anti-money laundering Act of 2004) to do so directly, without reference to the Bank's Governors, Department of money laundering maintain independence of operations. The subsequent follow-up, it is very important not to hamper the exchange rate and price stability. We must remember, as noted above, the domestic price stability is the primary objective of the Central Bank according to article 3 of the law on the Central Bank. Auction committees receive a citation from the banks about lack of money laundering operations, but it should not hinder the flow of financial flows and exchange rate stability. The money laundering that receive a copy of the auction directly is that you must scrutinize the money flows in detail.And can sum up what mentioned in points (2) and (3) that the fate of the foreign currency that supportive Central Bank meeting the Iraqi dinar in the auction process and ending his mission here is to go through commercial banks to finance different types of imported goods and services and other uses that we mentioned earlier. All requests for transfer is given to the Department of money laundering which must follow and determine the fate of the foreign currency particularly suspicious of them and tell the security authorities directly. 4) it is important to point out that there is no restriction on transfers to current payments according to article VIII of the Convention on the International Monetary Fund, which was one of the first institutional Iraq and one of the first signatories to the Convention on 27/12/1945. In addition, the free transfers included memoranda of economic and financial policies with the International Monetary Fund held and signed by the Minister of finance and the Governor of the Central Bank. We wish to clarify that all restrictions were removed after the abolition of the foreign exchange Department of the Central Bank in 2003.

* Former Central Bank Governor


[link to www.microsofttranslator.com]
Rev. 21:4 He will wipe every tear from their eyes. There will be no more death or mourning or crying or pain, for the old order of things has passed away.
ReVbo™
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05/06/2013 11:56 PM

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Re: Iraq an economic Study
5-6-2013 Newshound Guru Doc More positive news about dealing with Maliki surfaced recently. The outside pressure continues as indicated by the following from the New York Times "The newspaper said in analyzing her about what the situation in Iraq, that Iraq is going through a serious crisis and that the solution lies in that step down the prime minister and replaced by another figure elected by Parliament, there are other Shiite politicians who are able to lead a government of national unity." Clerics, international community and political opponents are all screaming for his resignation. Has this coalition finally mustered enough clout to get Makiki to finally play ball? It would definitely explain Maliki's sudden cooperative spirit. As like most things in Iraq only time will tell but whatever caused the change in spirit we say hooray!! Hopefully this will finally get done.


Read more: [link to www.dinarguru.com]



tlar on the Shabibi article above...
Basically he is defending the bank. He is acknowledging the unacceptable difference in rates of 8%, and offering solid solutions. As a bank replenishes the USD they just sold, he does so by buying more USD at the auctions. The CBI makes 13 dinars for every dollar they sell. Shabibi maintains that public money is not being lost in this transaction of selling dollars at the auction. He suggests that a commission be set up to monitor the banks who attend the auctions and purchases USD, from possession through distribution to identify abuses. He is advocating the recirculation of the dollars into the Iraqi country be used only to help build Iraq and to help create a better economic climate at home. The only other use permitted should be the purchase of goods and services out of country that are needed and helpful to the Iraqi's at home. In essence he would put the onus on the banks selling this currency to know what and who they are selling to and to what purpose those funds would be used for. It would fall to the watch dog group to again ferret out the abusers. Through regulations already now in place the banks are under limitation as to how much USD they can purchase everyday. This is sort of what I was suggesting in my previous post when I suggested they need stronger regulations and some way to enforce them.. Shabibi is offering his expertise as an international banker. He says that the same thing happened under his leadership and through actions like this he was able to lock the rates back to 1166 program and 1168 street

One more thing. This discussion concerning thye CBI not being at fault is being used as a two edge sword by Shabibi IMHO. He not only gets bragging rights on his monetary expertise but he has seized this as an opportunity to publically give a rebuttal to the charges against him. Remember he to was accused by Maliki and his goons of wasting public money then as the bank is today. Everybody loves to eventually tell the accuser Maliki, he is full of Shiite.. .

Last Edited by Revbo™ on 05/06/2013 11:58 PM
Rev. 21:4 He will wipe every tear from their eyes. There will be no more death or mourning or crying or pain, for the old order of things has passed away.
ReVbo™
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05/07/2013 08:54 PM

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Re: Iraq an economic Study
Re: ending DFI protection on May 23rd:

"...the most appropriate solution to end this file from a range of options notably the transfer of the remaining money in the fund to Iraq, and the central bank to bear the responsibility to pay off debts creditors.


Revbo:
Send it all to CBI and let them settle everything. More reserves are always good.



Kaperoni:
ReVbo, let's hope that is the choice, it will force them to bring the dinar out as well. I keep thinking of that economist article back in Feb where he states....

“4. Foreign exchange auction has long lasted its purpose. Alternative arrangement is needed to serve foreign exchange demands of both public and private sectors. The depositing of all oil revenues in CBI instead of DFI will enhance such arrangement and make CBI the main provider of foreign exchange to the public sector. The lifting of UN Chapter VII’s Sanctions will facilitate the new role.”

Rev. 21:4 He will wipe every tear from their eyes. There will be no more death or mourning or crying or pain, for the old order of things has passed away.
ReVbo™
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05/08/2013 11:08 AM

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Re: Iraq an economic Study
Well, Parliament took the day off today, but I've seen some indication, yesterday, that they are going to postpone their vacation that was supposed to start on the 15th. Looks like they're getting some good work done today, though, with the below article. I think this is a reference to the new "mechanism" I posted a couple days ago, so they should be moving quickly to get these laws and the recent agreement between Baghdad and Erbil implemented Thursday and into next week.


The Kurdish blocs discuss the agreement between Baghdad and Arbil 08/05/2013 13:11:00
BAGHDAD / NINA / The Kurdish blocs held a meeting today May 8 in the parliament building to discuss the agreement between the Governments of the region and the center.

MP, of the Kurdish blocs, Sherif Sulaiman told the National Iraqi News Agency / NINA / "The recent agreements made between the Governments of the region and the center were discussed as well as the mechanism of their implementations."


He added:"The meeting discussed the work of the committees, which were formed to implement what has been agreed upon in accordance with previous agreements, especially the agreement of Arbil."

He made it clear that "The meeting focused on the need to resolve disputes and crises in accordance with the Constitution and law for the continuity of the political process and the democratic process in the country." / End

[link to www.ninanews....?ar95_VQ=GHKFHF]


Read more: [link to dinarvets.com]




Here's another good one about the focus on getting laws passed in the near future.


Maliki’s alliance calls parliament to set priority for laws to endorse them

Wednesday, 08 May 2013 14:57 | | |



Baghdad (AIN) -MP, Abbas al-Bayati, of the State of Law Coalition headed by the Premier, Nouri al-Maliki, called the parliament to set priority to the law drafts to discuss them during its current term.
Speaking to All Iraq News Agency (AIN), he said “We hope the parliament to set priority to the law drafts and show them to the Iraqis in order to have a good end of its current term,” expressing his concerns over “Involving the parliament in the political disputes and delaying its legislative and observatory role.”
“The period remaining from the current term of the parliament must be specified to discuss three important types of law drafts,” he added, noting that “The first type is that which is related to the services such as the Retirement law, whereas the second type is related to the political side such as the Parties law and the third one is related to settling the crises such as the Oil and Gas law.” /End/

[link to www.alliraqne...itical&Itemid=2]


Read more: [link to dinarvets.com]






This one is about HCL implementation. The terms "imminent" and "next term" are used in the same article, though, so who knows. I guess it all depends on what "next term" means. It could be everything from the next Parliamentary session (i.e. tomorrow), to the next Parliamentary session that begins next year (although that would seem to be incompatible with "imminent"), to something akin to "in the coming days" or "soon."


Expectations of the imminent parliamentary passage of the oil law
08/05/2013 12:00 AM
-
BAGHDAD - morning - Farah pumice
I expected the oil and energy parliamentary out a final draft "of the law of oil and gas during the next term," especially after the bilateral agreements between the province and the center, confirmed the possibility of integrating all the drafts proposed to break the law and one that meets the wishes of the various parliamentary blocs and political rights. The importance of the adoption of this law in its ability to double the revenue of the country's financial, as well as put it controls a firm to manage the oil wealth, which confirmed the constitution as "the property of the Iraqi people."
-
Said Rapporteur of the Commission on oil and energy Qasim Mchkta the importance of expediting the approval of oil and gas law, noting in interview for "Center Brief for the Iraqi Media Network," The law of oil and gas from the laws very important that must speed up the approval. said Mchkta to the presence of many previous attempts that have sought to enactment of this Act because of its importance, most recently set up a committee quintet to agree on a new version. between Mchkta the importance and seriousness of the discussions that took place between the delegations of the central government and the Kurdistan region recently, which is expected to lead to the adoption of the law as soon as possible, especially since the atmosphere are suitable and appropriate for the payment approval process and consensus on one of the drafts of the three. was the Governments center and the region have agreed to resolve the seven-point form axis of disagreement between the two sides, including the resolution of oil and gas law.
-
coincided agreement of Arbil and Baghdad on the law with the announcement on Tuesday of the oil and energy parliamentary, which has shown their ability to integrate drafts of the three within the House of Representatives for oil and gas law draft and one out in a consolidated version being displayed To vote in Parliament. A member of the Committee MP Hassan donation to "Center Brief for the Iraqi Media Network," that "most of the points in the drafts submitted by the political blocs agreed and controversial points not more than five points all related to contracting powers, production and disbursement Finance and. He gave that "it only requires the existence of a political will to resolve then we will be able to reach solutions to all points of contention that we can not serve as the parliamentary agreement on one of the points can be placed paragraphs represent the points of view and go with them to a vote in parliament, which would be al-Faisal in determining which is better" .
-
and the Attorney "was supposed to go to the scholars of international law and the use of the existing laws in the world and adopt a law for oil and gas in the country, taking into account the suitability of the economic reality in Iraq." The problems of failure to approve oil and gas law, in the absence of a standard format for decades oil concluded by Iraq with major international companies in this field, especially since the center depends formula differs from formula contract approved by the province, and moreover, the economists emphasize the importance of the law in being treated lapses experienced by the oil industry in Iraq, and its potential to enhance revenues the country's financial, leads to growing annual, is that the most prominent pros to be achieved in the shadow of approving the law and according to economists, is to increase the export capacity of Iraq, and the development of processes and Extraction exploratory it.
-
noted that the Commission on oil and energy Parliament has three drafts of projects, oil and gas law is the draft of the year 2007, and the draft government and draft a proposed law committee, but all of these drafts are not acceptable to the political parties in parliament. Article (111) of the Constitution reads as follows: "Oil and gas are the property of all the Iraqi people in all regions and provinces, "while Article (112) reads as follows:" First: The federal government will administer oil and gas extracted from current fields with the governments of producing regions and provinces, to be distributed and fairly commensurate with the population distribution in all parts of the country . "
-
[link to translate.goo...wFDvgDdZrwM7rbQ]

Last Edited by Revbo™ on 05/08/2013 11:13 AM
Rev. 21:4 He will wipe every tear from their eyes. There will be no more death or mourning or crying or pain, for the old order of things has passed away.
ReVbo™
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05/08/2013 12:29 PM

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Re: Iraq an economic Study
[link to www.dinarrecaps.com]

BLC Administrator Lightingcslt Chat Wednesday Morning
05/08/20130 Comments

[lightingcslt] ok all I have been thinking again and boy did the light bulb go off again last night

[lightingcslt] I want to bring something in give me a second


[lightingcslt] The parliament session in the presence of 175 deputies 07-05-2013 12:24 PM Baghdad (news) .. The session was held twenty to the House of Representatives in the presence of 175 deputies. said reporter Agency (news): The agenda of the meeting includes a vote on the health of the membership of Thamer Ibrahim Zahir and vote on a draft law amending the Social Welfare Act, and vote on the draft law on accession of the Republic of Iraq to the Convention on the Arab Organization for information and communication technology, and the first reading of the draft law amending the Penal Code. added: that the agenda of the meeting also includes the first reading of the draft law on the first amendment to the law of the Supreme National Commission for Accountability and Justice No. 10 of 2008, and the first reading of the draft law amending the Penal Code No. 111 of 1969, and reading first bill seizure and confiscation of movable and immovable property belonging to the pillars of the former regime. will also be the second reading of the draft Labour Code and the second reading of the proposed law first amendment to the law of service and retirement of Internal Security Forces, and the second reading of the draft law second amendment to the tariff law

[link to www.ikhnews.com]


[lightingcslt] now I want you all to look at the last paragraph of that article "will also be the second reading of the draft Labour Code and the second reading of the proposed law first amendment to the law of service and retirement of Internal Security Forces, and the second reading of the draft law second amendment to the tariff law"

Read More Link on Right
[lightingcslt] look the second reading of the tariff law. You know what that means ? That means its read again then put into law which I believe will be tommorow. Folks that is huge for us ! What does tariffs mean to you all ? Tariffs mean taxes will be put on all importing and exporting goods which means what ? Money and lots of it ! Now when they take place what you think is going to happen next ? The price of goods are gonna go up which in turn brings what ? INFLATION, right ?

[lightingcslt] So now we have tariffs in place and I firmly beleive the reason they didn't get into the WTO is because they didn't have taxes on their goods but now that they will have them don't you think the World Trade Organization is going to look at them as a world trade country ? Yes of course they are. So, in my mind the WTO is going to let them join into the organization

[lightingcslt] Now I bring this in because there is going to be a problem for the CBI. First thing is they have been keeping inflation in check for quite sometime now but when these tariffs take effect the price of goods housing and everything is going to go up which once again is going to raise the inflation percentage. Also the CBI is going to have another problem. In order for Iraq to join the WTO they also need an international tradeable currency . Well if the WTO is going to let them in that means the heat is gonna be put on the CBI to make THE DINAR a real currency to be tradeable and exchangeable throughout the world.

[lightingcslt] To me all this is awesome news, things are getting done one at a time. You see we have had many times hearing great news just to be let down again . Well there is not going to be anymore let downs from here on out. Too late for Iraq to turn back now and with HCL oil and gas being put into one law there is no turning back ! Get ready all , this roller coaster ride is about to stop for good !

[tlm724] lightingcslt thank you awesome chat once again !!

[mathews99] lightingcslt ty very much !!!

[beekeeper] lighters very good thank you

[Shunshine] Wonderful job tyvm lightingcslt

[marjans] lightingcslt ty great chat

[dinardoe] great...nice job lightingcslt, you know, we all read that and missed the important points you showed us tyvm

[campdav] lightingcslt Great stuff *slap* hi fives around the board

[lightingcslt] hey there is much more coming, all these last few days in the news has been nothing but positive things that I will bring to you all when I digest them thank you all.
Lights out...
Rev. 21:4 He will wipe every tear from their eyes. There will be no more death or mourning or crying or pain, for the old order of things has passed away.
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Re: Iraq an economic Study
File is in the link if you want to take a look.

[link to goingglobaleastmeetswest.blogspot.com]

Major New Report on the Iraqi Banking Sector
Thank you Bama! Note: All 4 of the Iraqi banks are better capitalized than the 4 US banks. pg 16. Also page 8 is interesting because it says the rate of the former Regime was 1 USD = .33 IQD - Bama



May 8, 2013

Major New Report on the Iraqi Banking Sector

Singapore-based Sansar Capital Management has issued a comprehensive new report on the Iraqi banking sector.

The report finds that while the mix of an improving macro environment and security situation offer attractive investment ingredients, many challenges remain for those interested in participating through public markets.

Iraq remains one of the most under-banked countries in the Middle East North Africa (MENA) region, while most Iraqi banks are overcapitalised, sitting on large sums of underutilised cash; this gives significant scope for expansion, and opportunities for investors.

In addition to providing a detailed analysis of the industry, the report examines the Iraqi private bank sector through the lens of the five largest private banks, ranked by deposit size:

North Bank (BNOR);
Bank of Baghdad (BBOB);
Iraqi Middle East Investment Bank (BIME);
Kurdistan International Bank (BKUI); and,
Dar Es Salaam Investment Bank (BDSI).

Wow ..:) Please click here to download the full 64-page report free of charge.
Rev. 21:4 He will wipe every tear from their eyes. There will be no more death or mourning or crying or pain, for the old order of things has passed away.
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tlar:
The political landscape changed with the last election. What was supposed to become a majority government supporting Maliki, ended with his loosing seats. Maliki was only able to get 7 of the 12 Shia areas behind him. It was a dismal failure that basically made him a lame duck PM and most likely contributed to his approaching the Kurds to make some kind of an acceptable deal with them. In directly, the concessions Maliki made (7 points of agreement) caused the Kurds to call off their boycott of the Council of Ministers and parliament meeting. This should lead to a quick resolution between Bagdad and Kurdistan of the HCL. The 140 problem was agreed upon to postpone legislation until next year. Real progress being made all due to the elections. Maliki, if he were smart, should quickly make an agreement to play nice in return for amnesty. If he goes hard line and tries to wiggle out of these agreements recently made with Kurdistan, he will be tried at some point at the Hague. We will see how smart he is in short order. If he continues to go the direction of reconciliation, we should see some movement toward making amends with the Sunni's. Either way he will not seek a third term because Jaafari and the NA undoubtedly will not back him. We will see if he reads the writing on the wall in the next few weeks. Iran will attempt to take a more active role in Iraq because as Maliki is weakened they must fill the void to protect their interest. So I expect to see more involvement of Iran in Iraqi politics than what we have seen since the last PM election. The election just held was a strong indictment against Iran and they have their work set out to repair their image with the citizens of Iraq.
Rev. 21:4 He will wipe every tear from their eyes. There will be no more death or mourning or crying or pain, for the old order of things has passed away.
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Re: Iraq an economic Study
Wonder what this is all about.


Evening Session Buying and Selling Dollar from the CBI 05/08/2013

Read more: [link to dinarvets.com]

The number of banks contributing to the auction 8
Price basis on which landed him auctions selling dinar / U.S. $ 1166
The price at which landed him auctions Hraoua the dinar / U.S. $ -----
The amount sold by the bank at an auction - U.S. $ 38.819 million
The amount purchased by the bank at auction - U.S. $ -----
Total Offers - U.S. $ 38.819 million
Total Sell Offers - U.S. $ ----
Rev. 21:4 He will wipe every tear from their eyes. There will be no more death or mourning or crying or pain, for the old order of things has passed away.
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Re: Iraq an economic Study
Re: The article above about passing the HCL

TBomb:
Hi, I'm just now listening to an Iraqi news analysis and they're pooling their information from many articles (they've read them all in entirety) and are stating that from the information we now have that it seems they've read the law twice and that they intend to pass the law within this "voting window".
Remember the Kurds have recently passed their own oil and gas law (April 8) in preparation for the centre to back out of the deal. Paraphrasing: the new law states that Baghdad has ninety days to respond (pay up) from the time they submit their request.

From all this, I do think that the census is done and even if it isn't there's an agreement to pass the law fast. Baghdad does not want to lose Kurdish oil profits. I mean, one would think, it'd be ridiculous for parliament not to pass this, especially considering this new kurdish oil and gas law. And I do think it is for this session. As you know they often say next, when they mean current, meaning "next meeting"..not next session.


Read more: [link to dinarvets.com]
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tlar on the the tariff chat from above (Second reading of the tariffs amendment was postponed, not suprisingly):
This is great news for us. Now all that's left is the vote on the Tariff and Tax Law and publishing it in the Gazette. Lastly implementation. If it makes it through the last steps and is implemented the currency will be forced to go international and it will have value. When this law is activated, prices on almost everything will increase 10-50%. This will cause deep inflation if they do not change the value of the currency, adding purchasing power, as everyday items go up in value. Without a marked increase in the dinar, the roles of the poor will increase dramatically. Also fledgling businesses will be forced to go up in price because they to import most goods even those beginning to be assembled in Iraq. The economy, already suffering will be hit hard. The CBI will be forced to play their hand. That will solve more than just the inflationary effects of the tariffs and taxes but will also solve the counterfeiting problem. If the tariffs and tax law is implemented before the raise in the dinar, IMHO that excludes the possibility of Iraq starting at a free float at 1166. That would solve none of the problems. It only makes since if the dinar value is increased immediately and if the value is high enough to allow them to bring out the smalls. Most likely Iraq will remove the "leading zeros" off the nominal rate to solve this problem as has been stated in another article. If the parliament starts first implementing the tariffs and taxes, the bank will be pitted in a situation where bringing the rates back together will have to take a back seat to inflationary pressures causing them to push the button or suffer the consequences on an already fragile economy. This law goes hand in hand with the rise in the value of the dinar. That's the reason the law is in it's third year without implementation. They CANNOT implement the law without raising the value of the dinar. Like that wise man Blue said, "bring it on".

Last Edited by Revbo™ on 05/09/2013 09:06 AM
Rev. 21:4 He will wipe every tear from their eyes. There will be no more death or mourning or crying or pain, for the old order of things has passed away.
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Re: Iraq an economic Study
Hassan sari: All the achievements were due to the excellent relationship between the national and Kurdistan coalitions
09/05/2013 - 5:46 P.M.

Link:
[link to translate.google.com]

MP for the mass of citizens were part of the National Alliance Hassan effect that "the return of Kurds to the meetings of the House of Representatives will contribute to the functioning of the political process and broken laws that serve the Iraqi people.

The force said Thursday, "We are keen on the continuation of the relations of the National Alliance and the Kurdistan," noting that "all the achievements that have achieved is because of these mutual relations."

He added that "the return of Kurds to the Council of Representatives will be the Pope solve all the crises that have beset the country and legislation will be a lot of important laws, which was parked because of their positions and not to attend the meetings of the Council of Representatives."

He continued in force by saying that "some of the existing deputies the interrupting Jdzisat Iraqi Council of Representatives and there is an ongoing dialogue with them in order to return back to the meetings to serve the Iraqi people a real service.

The deputy prime minister of the Kurdistan Alliance had returned to the government after boycotting the meetings of the Council of Ministers and the House of Representatives on the back of the federal budget without them pass early last March
Rev. 21:4 He will wipe every tear from their eyes. There will be no more death or mourning or crying or pain, for the old order of things has passed away.
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Re: Iraq an economic Study
[link to currencychatter.webs.com]

"Finance Committee has submitted on Friday a proposal to his committee provides an agreement with the Central Bank and Ministry of Finance to distribute salaries for all state employees in dollar for one month"


______________
BlueEyesInLevis:
First they pay the "pilgrims" in USD... then they announce payments of an entire Province in USD.. now they are proposing they pay the salaries of all State employees for one month in USD.
-
This is exactly about keeping the triple zero notes out of the economy.. NOT releasing any more... and one month ... pretty intrigueing. There is more to it than that... the effect they want to have on the exchange rate and all... but them using USD for everything for a month is big..


The 8th grade educated politicians are the last in the line to make decisions.. and the first to spout off to the media, This looks to me like a politician has leaked the plan .. the solution.. to get the exchange rate between the banks and the street back in line. I think this is a CBI plan... and they had to bring the Finance Committee on board to implement... and now that ALL the politicians in the Ministry of Finanace know about it... some politician made the announcement. I would think we will see this on the next payday.. they NEED to do something to combat the Iranian goons trying to launder money and the resultant disparity in the black market rate.
-.
That said.. they ALSO do NOT want to release any more triple zero notes into the economy. This made my night last night.. and I am grinning like a cheshire cat today. ~ Blue



Revbo:
Many of us have thought, for a while, that CBI would have a very short window, each month, of a few days toward the end of the government pay cycle to do their currency reform because that's when the most dinars have been exchanged for dollars and there are the fewest dinars in-country. Regardless of the reason for this move, it pretty much takes every last "walkin' around" dinar out of the economy and opens a full month-long window to do currency reform. They're never going to be able to do anything about the dinars that are stuffed in mattresses, but if they can prevent the government employees, who are the only people in Iraq who use dinars (because they have no choice) from possessing them in the first place, they're in great shape for as long as this method of payment continues.

By agreeing to this plan, CBI is giving up their ONLY source of revenue, the 13 dinars per dollar they make at the auctions. Why would they be doing that if they plan on continuing as an ongoing business concern, unless something else is going on here. Once currency reform takes place, they can start making loans to Iraqi banks like every other central bank in the world, but for now, they only make money on currency exchange, so why are they doing this, because it sure ain't just to be nice to the Iraqi people?

Could it be somebody a little higher up the food chain told them it was time?

Last Edited by Revbo™ on 05/10/2013 02:31 PM
Rev. 21:4 He will wipe every tear from their eyes. There will be no more death or mourning or crying or pain, for the old order of things has passed away.
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Re: Iraq an economic Study
Maliki's sick again, apparently.

Ali Abdullah - 05/11/2013 -

The prime minister Nuri al-Maliki and illness.

Said Ali al-Adeeb, Minister of Higher Education and Scientific Research, the leader of the Islamic Dawa Party during a speech on behalf of al-Maliki in the Memorial to the Martyrs Day Iraqi Office of the President of the Supreme Islamic Council "The prime minister was unable to attend the ceremony for the suffering of the malaise healthy, and we wish him healing."

And established the Office of President of the Islamic Supreme Council of Iraq Ammar al-Hakim on Saturday, a memorial service the Iraqi anniversary of Martyr's Day.

[link to translate.googleusercontent.com]
--


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Re: Iraq an economic Study
tlar re: CBI reserves are now up to $74 billion, highest in the history of Iraq.


Before they started the intense buying of dinars from Iraq, Iran and Syria, Saleh reported the in country dinars, meaning what was circulating in Iraq, to be 4 trillion. That was the amount of dinar physically trading in order to run the economy of Iraq. Since they have started buying and retiring Iraq, we know they have bought untold trillions of dinar, selling USD in an effort to dollarize Iraq and remove dinar from Iran and Syria. With the recent articles, salaries of civil servants paid in USD, provinces being paid in USD and banks selling USD on the street corners, it seems they are attempting to collect every dinar in circulation. Since April of 2011, the CBI has been receiving the three zero notes but not letting them out of the bank. This has aided the dollarization effort as the highest bill recirculating once these bills big became scarce is the 1000. That's like you or I trying to operate day today without a credit card and the highest bill in our pocket being a $5.00 bill. We also have been told through articles that the 250 and the 1000 notes are in such bad condition that civil servants, street vendors, not even cab drivers are wanting to take them in trade for goods or services. If you are an Iraqi, you almost have no choice but to use USD, a foreign currency, to be able to participate in the day to day economy. Again, its like us having to use the yen or the peso. Iraqi's don't like it but have little choice but to dollarize. Throw in fear that the dinar may not hold its value and you have created the perfect storm to dollarize.
Under normal circumstances countries replace their currency as it circulates. The average US dollar circulates one to two years before it is collected and destroyed. The dinars have been in circulation for 10 years plus. There is no replacement procedure in place and there is no plan to reprint the 3 zero notes. Iraq is dollarizing for two reasons. The first is that the present currency is almost totally unusable in day to day transactions. The second is obvious to me. Iraq is getting ready to make a major change.

If a company is worth 1 million in assets and there is only 1 outstanding share of stock, that 1 share is worth 1 million dollars. With two shares outstanding, each share is worth 500 thousand dollars. It works the same way with a currency. If a country has 74 billion in US foreign currency reserves and there is only 1 dinar left out there, then that dinar is worth 74 billion dollars. The fewer the dinars left in circulation, the higher the value and the easier the CBI can support the price if they are to increase it. Dinars that we hold if they end up as US foreign currency reserves after a change, are not to be confused with dinars in circulation. What sustains the value of these dinars is the economy of the issuing country. Iraq is expected to have one of the highest growing economies in the world for the foreseeable next couple of years at least. They in essence stand on their own two feet and the CBI will not have to account account for these dinars in the currency reserves. Depending on what they are allowed to compute to back the currency under the IMF rules, they could have trillions backing their currency. Currency reserves for a country is meant to describe how much money in foreign currency that a country has to back their currency and the length of time that that amount will pay a balance of payments. They cannot use the currency issued by themselves as part of this number. Only foreign currency. A country that has three times its monthly requirements to operate is considered acceptable. Recently Egypt, in 2012 had a seven month reserve but since their revolution, that reserve has dwindled down to less than a month. This equates to Egypt eating their own body fat and is the reason they are seeking funds from Iraq and elsewhere.
What currency reserves are for is to cover some percentage only of the dinars that are used in and out of Iraq on a daily basis for economic activity and to cover a period of time within which Iraq could operate based on the countries external needs. Reserve requirements as mandated by international laws at present do not say what Iraq's percentage of reserves will have to be, but reserves will vary from country to country and will depend on which group Iraq ends up in, as to what there actual reserve requirements will have to be. Until Iraq goes international and ends up in a group they will not know what the requirement will be. Most likely they will join the EU group. These requirements are complicated and detailed but reserve requirements in general mean that a country must hold foreign currency at some percentage less than 100% of the funds needed to back their own currency and their dealings with the outside world. At 74 billion, Iraq is already there and has been ever since they had attained 27 billion in their foreign currency reserves. The sum total of all dinars released according to the CBI was some 30 trillion. We know by now, the number still out has been significantly reduced because of the dollarization of Iraq, Syria and Iran. With 74 billion currently in reserves they have to be covering all outstanding currency everywhere 3-5 times over. But remember, the only currency they have to cover is the currency circulating in Iraq on a daily basis.
We may be very close to the end. At the point that there is only a trillion or less in circulation in Iraq dinars left in Iraq, Iran and Syria, there will be no question that they could remove the zeros and support the currency at a dollar. International reserve requirement are from 1.5% on up. Iraq should fall in a 10% or less as their requirement IMHO.. 74 billion means they can cover 740 billion in value even if they are stuck covering at the whole 10%. This will be the reserves necessary to cover the dinar left in Iraq We will not be privy to that number until an event happens if ever. Remember, everyday in Iraq the amount of dinars are being reduced, and conversely everyday the CBI is increasing it reserves.
Rev. 21:4 He will wipe every tear from their eyes. There will be no more death or mourning or crying or pain, for the old order of things has passed away.
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05/12/2013 04:28 AM
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Re: Iraq an economic Study
Sounds like things are coming together nicely. Our time soon I'm thinking. This latest move to limit the dinar in circulation in country is very telling. Hope its soon as the window is closing for the monetary scene in the US, spend it fast but wisely in things that will give you a return down the road or it might just inflate away before your eyes. lol
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House of Representatives confirms the central support measures in controlling the exchange rate of the dollar
Baghdad / Baghdadi news / .. announced the Presidency of the Council of Representatives, on Sunday, its full support for the central bank to scrutinize the work of private banks and archiving of information within the bank and reform measures that include adjust the exchange rate of the dollar.
According to a statement moved the Information Office of the Council and received / Baghdadi News / copy of it, that the Presidency headed by Najafi and his two deputies during a meeting with Iraqi Central Bank Governor Abdul Basit Turki agency confirmed its full support for the work of the Central Bank and procedures in auditing the work of private banks and archiving of information within the bank and reform measures that include adjust the exchange rate of the dollar and reduce the phenomenon of money laundering and strengthen the capacity of the central bank in economic development. "
He added that "the meeting dealt with the role of the House of Representatives in issuing decisions in order to protect Iraq's money for the next year and address the issue of debt and push focus of the international effort to protect Iraqi funds abroad. Finished / 21
[link to translate.googleusercontent.com]
*************************************************************​***********************
The Presidency of the Council of Representatives meets Governor of the Central Bank and the Agency
Sunday 12 May 2013
Met with the Presidency of the Council of Representatives, headed by Mr. Osama Abdel Aziz al-Najafi, head of the Council and in the presence of Dr. Qusay al-Suhail, First Deputy Chairman of the House of Representatives and Mr. Aref Tayfur, Vice President of the Council on Sunday 05/12/2013 Mr. Abdul Basit Turki, head of the Office of Financial Supervision and the Governor of the Central Bank of Iraq and the agency.
And the Presidency of the Council expressed during the meeting its full support for the central bank to scrutinize the work of private banks and archiving of information within the bank and reform measures that include a set dollar exchange rate and the reduction of the phenomenon of money laundering and strengthen the capacity of the central bank in economic development.
The meeting dealt with the role of the House of Representatives in issuing decisions in order to protect Iraq's money for the next year and address the issue of debt and push focus of the international effort to protect Iraqi funds abroad.
The information department
Iraqi Council of Representatives
05/12/2013
[link to translate.google.com]
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Re: Iraq an economic Study
Economist calls for oil and gas economic reserve of the Central Bank


May 11, 2013, 1:43 pm
Economic expert called by the name Jamil Antoine, Saturday, the Central Bank to adopt oil and gas as a reserve stock instead of gold and the dollar, adding that the value of oil exports during the year twice all the gold reserves in the country.

Antoine said in an interview quoted by Iraqi news agency reporter "," the Central Bank's reserve unit is not enough to maintain the stability of the Iraqi economy, where you must count as economic reserve is oil and gas stocks, because the Central Bank reserve funds went not equal oil exports for one year ".

Stating that: "the main possible reserve to protect the economy of Iraq is oil and gas stocks in underground", "the oil Ministry statistics indicate that oil reserves reached nearly 150 billion barrels of oil and 19 billion cubic meters of gas, up to February of this year."

[link to www.microsofttranslator.com]


Stryker:
.... this is a very very good article and what the IMF says a country can do to back their value of their currency if the wish too!!!

The IMF says that proven mineral reserves can be used as an asset back reserve. If Iraq does this as this economist Jamil Antoine is pointing out just
hang on folks because Iraq will have the most valuable currency in the world and may be why Maliki is the highest paid Leader in the World at $3 million dollars per year ....

All they would need to do is add the 150 billion barrels and the 19 billion cubic meters of natural gas to their real gold and Hard Currency reserves to get there, which their Hard Currency Reserves right now alone has just been announced to be at $74 billion.

Nice one Gamaray ....

*** where you must count as economic reserve is oil and gas stocks



ZenMav:
Bankers always want to monetize resources. That way, you get something fake, fiat money, and they get what is real - gold, silver, etc. It has been their favorite game for more than a hundred years. This is going to happen. The end game of this currency play has always been the monetization of ME oil and mopping up the petro-dollar.
--


Last Edited by Revbo™ on 05/12/2013 09:20 PM
Rev. 21:4 He will wipe every tear from their eyes. There will be no more death or mourning or crying or pain, for the old order of things has passed away.
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Financial expert calls for the central bank to take the necessary measures to save the Iraqi dinar exchange rate
15-05-2013 12:37 PM


Baghdad (news) .. He favored a financial expert Abdul Sattar al-Hashemi, the continued reduction of the Iraqi dinar exchange rate against the U.S. dollar unless there are serious by the central bank to develop a plan to save the national currency.

Hashemi said (of the Agency news): The Iraqi dinar exchange rate is moving downward against the U.S. dollar since the new administration came to the Central Bank and so far, and this is indicative of the failure of monetary policy and the weakness of the current administration of the bank.

He added: that the central bank demands to take the necessary measures to save the national currency, because the continuing decline will pull the country into a major economic problems, such as high rates of inflation and increasing prices in the market as well as its impact on the monetary reserves of the Central Bank.

This witness the exchange rate of the Iraqi dinar declined significantly against the U.S. dollar, which made some economists are expressing fears of a continued decline and its direct impact on the Iraqi economy. / End / 8.'s. M /


Read more: [link to dinarvets.com]

MY TAKE

I would suspect that the dinar exchange rate to the dollars is being kept low during the removal of the large bills, as a means of paying less for the large bills in circulation. Dollarizing the country on the cheap. Don't worry when they get as much of the large denoms off the street as they want to, we will see an RV. Our holding will not effect the reserves or the cost of activating an RV because the dinar we hold will be held by the US government as reserves and for purchasing oil at $36 a barrel. Can you say windfall profits. The Gov wins both ways. Increased dinar value and oil on the cheap. lol What a racket.
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Re: Iraq an economic Study
Observers: dip, Shabibi dinar missed and we fear the continued decline

Thursday, 16 may 2013 17: 07



WeakGood Twilight news/Iraqi dinar is currently experiencing a decline in its value against the US dollar since the Government sacked the former head of the Central Bank, Sinan Al-Shabibi is raising concern among money and economy in particular.

And the value of the Iraqi dinar fell gradually during the past few weeks, bringing the price of the dollar to about 1,300 dinars after was stable from 1120, the highest rate of exchange-rate mechanism for the last two years.

And observers believe that the decline rate of the Iraqi dinar has since Prime Minister Nuri al-Maliki decided suddenly to exempt former Central Bank Governor Sinan Al-Shabibi, head of the Office of financial supervision Abdel Basset Turki.

They also believed according to radio free Iraq obtained by "twilight news this procedure and accusations with former Central Bank Administration left its impact on the Bank's reputation and the reputation of Iraq in world markets.

He expressed this view financial expert Majid mock who explained also other internal and external factors that may have contributed to the degradation of the value of the Iraqi dinar, including the regional situation, especially in Syria and Iran and then the consumer orientation of the Iraqi Government and instability in Iraq, prompting funds to flee abroad.

Mock noted that the Central Bank sold large amounts of US dollar vary by between 50 and 100 million dollars a day.

The mock said that solutions emerge from the crisis requires joint effort at all levels in addition to the other solution is to float the currency but the main solution in his view is to revive the neglected by many development because it does not come with such a direct profit trading and import. The import volume reached 64 billion dollars in 2011 while the former does not exceed $ 9 billion.

And Economist Salim Al-jibouri tried to explain the effects of the deterioration of the value of the Iraqi dinar to the simple citizen and on the internal market and the most important effects appear in the prices of goods available in the Iraqi market and imported goods depends on the dollar if the dollar rises with increased prices of all goods and commodities.

However, Al-jubouri said the two central bank balance and currently exceeds $ 70 billion, is what makes the Government unable to intervene and support the value of the Iraqi currency.

He is a member of the Finance Committee in the House of representatives Secretary Hadi Abbas that the deterioration of the local currency occurs in all countries and in every place.

And the lack of any kind of threat to the large reserves at the Central Bank and is able to cover all the defects, according to a Deputy who accused some banking authorities of being behind the dollar trading inventory for special purposes.



[link to www.microsofttranslator.com]
--


Kaperoni:
Well...i like this comment...

"The mock said that solutions emerge from the crisis requires joint effort at all levels in addition to the other solution is to float the currency..."

Just love it when I am right


When you read that...it is clear there were two plans. IMO, the original Shabibi plan of deleting 3 zeros via a RV @ about .86 or 1 to $1 and the more recent plan..the float. And this article with a clear statement...

"The mock said that solutions emerge from the crisis requires joint effort at all levels in addition to the other solution is to float the currency..."

I don't want to toot our horn here at DA, but Russell, Enorrste and I have been saying there was a change in plan since May -June 2012. This was a clear result of the GOI (interfering) with monetary policy. This economist is calling for the that event. All good news for us. Those reading this, please stick with DA and we will do out best as long as it takes to get the clear facts to you.


--

Last Edited by Revbo™ on 05/20/2013 10:57 AM
Rev. 21:4 He will wipe every tear from their eyes. There will be no more death or mourning or crying or pain, for the old order of things has passed away.
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Street:
At first glance at this article it seems like bla, bla bla, Im filing a law suit to shut you up by one of Maliki’s goons..... But read a little deeper and you will find something very important. The UN just cannot move in and remove a leader of a country, unless the leader is killing his own citizens… Maliki has lost all international support or they would not be doing this, they would just ignore Hawija incident. Parliament wants to classify it as a Massacre Remember, Maliki was just told by the US Embassy to remove most of his advisors and staff and that the Embassy would be following up and monitoring the demand to make sure Maliki did what he was told… Hearing on this start in Geneva on May 19th

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Breaking News ... Al-Iraqiya MP succeed in internationalizing Hawija incident
Thursday, 16 May 2013 09:07
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Shafaq News / An MP for al- Iraqiya List, Haider Mulla announced on Thursday, that UN Human Rights council based in Geneva selected the 19 of this month as a hearing session to Hawija incident , while explained that the lawsuit filed by the commander of ground forces against him, lieutenant general, Ali Ghaidan comes under pressure framework to stop the internationalization measures of Hawija massacre.
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The Iraqi Ministry of Defense declared on Wednesday, that the commander of the ground forces filed a lawsuit against al- Iraqiya Lists’ MP , Haidar al-Mulla for describing him as “ new Chemical Ali” (Ali al-Kemyawi).
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“I think that the lawsuit is an attempt to pressure us to stop trying to form an international tribunal on Hawija massacre, and we said that these lawsuits will not deter us from our continuing proceedings before the International Court of Justice (ICJ) and the UN Human Rights council to investigate with military leaders involved in the incident starting from the Office of the Commander in Chief of the armed forces and even security leaders that implemented the operation ,” Mulla told ”Shafaq News”.
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Mullah added, “I am currently in Geneva to attend the hearing session on Hawija incident which will be held in 19 of current May”.
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Mullah's remarks came after his bloc withdrew from the parliamentary session in protest of the lack of response from the presidency of the parliament to demand the inclusion of Hawija massacre on its agenda and consider it as a crime against humanity and genocide.
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Ali Hassan al-Majid was named as “Chemical Ali”, a cousin of former Iraqi President Saddam Hussein and one of the leaders of the Baath Party and Defense Minister of Iraq in the mid-nineties, for using chemical weapons against the Kurds in the late eighties of the last century, what caused the death of thousands of people.
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It seems that the consequences of military forces that stormed the protesters square marching against the government policies in Hawija in Kirkuk last month, still exist, as some believe that it has left security tensions that carry a sectarian character.
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[link to www.shafaaq.com]
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Rev. 21:4 He will wipe every tear from their eyes. There will be no more death or mourning or crying or pain, for the old order of things has passed away.
calin

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05/16/2013 11:46 PM
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Re: Iraq an economic Study
Interesting meetings with the IMF:
[link to dinarvets.com]
calin

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05/18/2013 10:36 AM
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Re: Iraq an economic Study
all too quiet here. ReV must be on vacation! haha
G3
G3

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05/18/2013 02:44 PM

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Re: Iraq an economic Study
all too quiet here. ReV must be on vacation! haha
 Quoting: calin


Agreed!

lmao

Hey Rev, check your PM's again.

headbang

Last Edited by G3 on 05/18/2013 02:44 PM
ReVbo™
Pook Snabber

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05/18/2013 06:10 PM

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Re: Iraq an economic Study
That's wild stuff, G3. blink
Rev. 21:4 He will wipe every tear from their eyes. There will be no more death or mourning or crying or pain, for the old order of things has passed away.

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