World Bank: Iraq of the most important countries in the region and to overcome the crisis Sndamh
Baghdad balances News The World Bank said on Monday that Iraq is the most important countries in the region and will continue its support to overcome the crisis
Said World Bank Vice President for the Middle East and North Africa Hafez Ghanem during the meeting with the Iraqi delegation headed by the Minister of Finance Agency Abdul Razzaq al-Issa in the spring meetings in Washington, The World Bank is committed to Iraq to provide the financial requirements imposed by the reconstruction in the liberated areas of operations.”
He said the World Bank team that the reconstruction of those areas and accelerate the pace of implementation will establish continuous support in the light of what you need and what Tchks the Iraqi government desperately needs
In turn, the price of the Iraqi delegation, the Bank and the Fund for the position of international support of Iraq and stressed orientation of the Iraqi government and its willingness to deal with remnants of war and the development of scientific programs for the next stage start of reconstruction does not end with education systems and job creation and the development of technical skills”.
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US adviser: Mosul battle is relatively slow but guaranteed results
The political adviser to the US embassy in Baghdad, Gary Crabo, wrote an article on what will be the situation after the liberation of Mosul and what will be the American role in the establishment of security and stability in the long term in Iraq after that stage.
“The battle for liberating Mosul seems to be going well, but at a relatively slow pace,” says Crabo, a fellow at the Center for Middle Eastern and International Studies at the University of Denver. The actual fighting from house to house in Mosul is being handled by Iraqi troops and well-trained police and soldiers at the hands of US forces.
Armed militants on the other hand are trying desperately in various means of resistance through infiltration between the civilian population for the purpose of protection and their occupants as human shields in front of the advance of Iraqi forces.
Despite all this, the final outcome is clear: that the Da’ash organization will be expelled from Mosul and all of Iraq, but the timing of this can not be challenged exactly and without a doubt it will end with high losses on both the military and civilian sides.
But there remains a big question for Baghdad, Washington and Ankara. What is after Mosul is liberated?
Prime Minister Haider al-Abbadi made it clear that the future of Mosul is a matter for Iraq only. In the meantime, the Iraqi army and security forces have only entered the city of Mosul while the Kurdish Peshmerga forces remained outside the border and the Popular Popular factions were assigned the task of protecting the areas adjacent to Mosul from the west.
On the other hand, Turkey has sent a group of special operations forces from its army on a mission to train Kurdish and Sunni Arab soldiers, but Turkish President Recep Tayyip Erdogan said he would not allow a demographic change and disruption of the ethnic fabric of some areas of Mosul, An important part of it.
The problem now is who will rule Mosul, a city with a high percentage of Sunni Arabs with an important part of Kurdish and Turkmen minorities. However, the Iranian-backed buildup has made a significant contribution to the fight against Daqash in the Nineveh Plain area of Nineveh Province. If these forces move toward Mosul as the battle develops, it will certainly not only provoke another ethnic war in Iraq, It is also likely to bring Turkish intervention and even Peshmerga forces, regardless of Iran.
One might imagine a repeat of the civil war in Iraq from 2004 to 2009 during the US occupation, which could not be pacified without a force of 140,000 US troops.
Once again, it can be proven that the American role in this situation can not be dispensed with.
The return of Mosul and the expulsion of an organization from Iraq should not be an end to the American role in Iraq. Even President Trump, who previously claimed his support and rejection of the US invasion in 2003, now admits that the withdrawal of US troops from Iraq in 2011 was wrong. Neither Iraq nor Iraq can repeat that mistake.
During his visit to Washington last month, Prime Minister Haider al-Abbadi told President Trump and even the US press that he prefers the presence of US troops in Iraq after the return of Mosul. But even if Trump agreed to this need and pledged it, he had to expect that there would be strong opposition in Iraq. Most of this opposition will come from the Shiite majority in parliament and from the leaders of the popular popular factions.
On the other hand, it is very likely that Kurds and Sunni Arabs will welcome the US presence. Here, too, the place where American diplomatic and political prowess plays a role will be a way out of this dilemma.
It is time for America and many of its European and Arab allies to start encouraging Baghdad and the various parties to establish a decentralized federalism in which the Kurds enjoy a greater autonomous autonomy and Sunni Arab autonomy on the self-rule of the Kurds today.
Even Prime Minister Abadi spoke of giving greater powers of self-rule as the only way to overcome ethnic and sectarian strife in Iraq.
But oil resources will remain a major challenge as long as most of Iraq’s oil reserves are in Kurdistan and predominantly Shiite areas. None of them will want to give up. But there may be a certain arrangement whereby Arab Kurds and Shi’ites can agree to build refineries and pipelines across Sunni Arab territories that will calm the latter and reassure him that he will not be isolated from taking advantage of the country’s natural resources.
The United States and other Western, Gulf and Asian allies may play a vital role in investing in these projects, as well as providing urgently needed assistance in rebuilding the infrastructure of cities such as Mosul.
The US military presence in these areas will help in training and arming local forces to impose security and stability and prevent any tensions, the same task that was carried out by US forces with diplomatic activity in Iraq until the withdrawal from it in 2011.
The Iraqi army will provide a service to protect all of Iraq as representing all ethnic and sectarian components and will receive assistance from the US side.
A US presence would strike a balance with the Iranians and allow Iraqi factions to decide their own future without allowing any outside force to exert influence. The US presence could also calm the Turkish and other Sunni Arab states in the region to prevent the emergence of another organization that would leave a sympathetic organization.
This solution to the Iraqi problem has been on the table since the US invasion of Iraq in 2003 and even during the British occupation of Iraq in the 1920s. It’s time to give him another chance. All other alternatives have been tried and failed. Adhering to this solution may perhaps help President Trump bring Iraq back again.
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“FaceBook LIVE” w/Call-in from Sunday w/BGG
Click here for Video Replay (4/23)
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Oil surges after 6-day losses
Economy News Baghdad: Oil prices rebounded on Tuesday after losses of six consecutive sessions but markets are still under pressure as traders lost confidence that pledges by major producers to cut output would curb the glut of global oil supplies .
By 0640 GMT, the WTI crude futures contract rose 14 cents, or 0.3 percent, to $ 49.37 a barrel, to stay below the $ 50 level it dropped late last week. .
Brent crude was up 14 cents, or 0.27 percent, at $ 51.74 a barrel .
Brent has fallen 10 percent since late 2016, despite efforts by the Organization of the Petroleum Exporting Countries (OPEC) and Russia to cut production by 1.8 million barrels per day in the first half of this year to reduce supply in the oil market .
Russia said on Monday its oil production could jump to a 30-year high unless Opec and independent producers extended a cut production agreement beyond June 30 .
Read more: http://www.dinarupdates.com/showthread.php?48440-Oil-surges-after-6-day-losses
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Kaperoni (Dinar Guru) – Article: “World Bank of Iraq: Economic reforms need to get to the head of an integrated financial system” Quote: “…the World Bank representatives have indicated that economic reforms represent the need to get to the head of an integrated system for the management of the financial operation of the state at the federal and local level.” I have stated it over and over, you cannot have a market economy without the banking system first opening to the world so investors may get profits out. That requires the CBI to get in compliance, move to Article VIII and get the dinar off the peg. As a result, investors will bring money to Iraq through the CBI’s capital account which will allow the CBI to raise the value to offset inflationary pressure created in the economy. First and foremost, the banking system must be activated. Good to see the IMF and WB telling Iraq to get going.
Read more: http://www.dinarupdates.com/observer/
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“FaceBook LIVE” session from Friday w/BGG
Click here for Video Replay (4/21)
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BGG (Dinar Guru) – The UN Chapter 7 Charter is still in place and is not going anywhere…they’re going to do what they are going to do with their currency’s value…Chapter 7 doesn’t matter at all…all of the sanctions have been removed but the Charter is still there so that we…the U.S…can move troops around at will and that includes all other UN partner nations that matter.
Read More: http://www.dinarupdates.com/observer/
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Kuwait ready to postpone payment of 4.6 billion dollars Iraq
Kuwait State, Tuesday, willingness to study future options to ensure the continued payment of Iraq $4.6 billion dollars in the framework of compensation for casualties of war between the two countries in 1990.
Said the Chairman of the public authority for assessment of compensation for war losses Khaled Ahmed Al-Mudhaf in a statement obtained by the news, “economy”, “the State of Kuwait reacted positively with the decision taken by the Governing Council of the United Nations Compensation Commission at its last session 81 on the second of November 2016 and encouraged both the Kuwaiti and Iraqi Governments to cooperate on future options to ensure that payment of that amount for Kuwait.”
Mudhaf pointed out that “Kuwait had supported during the special session called by the Board of Directors in December 2014 272 resolution (2014), which requested the brethren in Iraq to postpone the payment of dues payments, taking into account the difficult economic and security conditions.”
Mudhaf drew, to “adopt the Governing Council of the United Nations resolution 273 (2015) which also postponed Iraq’s international obligations to deposit five percent of compensation fund for an additional year until January 1st 2016 because of continuing security and economic conditions in Iraq.”
“The State of Kuwait has supported for the third time requested Iraq brothers at 81 on 2 November 2016, which postpones the appeals process five per cent deposit compensation fund for an additional year, until January 1 2018 because of continuing security and economic situation in Iraq.”
“Kuwait is stressing the importance of continuing the functions and role of the United Nations Compensation Commission and also stresses the importance of completing the Board of Directors for the responsibilities entrusted to it by Security Council resolutions and decisions of the United Nations Compensation Commission at the same time understands the security and economic conditions in Iraq and thus interacted positively with all previous requests for deferral by the brothers in Iraq.”
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When you confront a problem you begin to solve it. – Rudy Giuliani
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International Islamic Bank plans to increase its capital to 250 billion dinars
Iraq stock exchange market announced, Tuesday, that international Islamic Bank intends to increase capital of 150 billion dinars to be 250 billion dinars.
He said Iraq market for securities in a press release “the economy has received a copy of the news,” general body of international Islamic Bank to be held on the eighth day of the next month in the Bank’s headquarters to discuss a capital increase from 100 billion to 250 billion dinars under article (55/I) of the companies Act, “saying it will stop trading on the Bank’s shares as of Wednesday session encountered III next month.”
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The opening of the top bridge in Kirkuk, Iraq
Governor of Kirkuk opened DIN Karim, Shaheed bridge Tuesday (Commodore Circo Tikrit light) in the Hsiu sur, which is implemented by the Department of roads and bridges.
Karim said during the opening ceremony seen by “economy” news “project is the urban monuments of Kirkuk will be proud of and will facilitate movement between the cities of southern Iraq and Kirkuk via bshwan and the cities of Kurdistan even within Iran,” indicating that “the bridge carrying the martyr label Brigadier Circo accosted in Tikrit who martyred in defense of all citizens of Kirkuk and has great prestige among the citizens of Kirkuk, that fulfilment of the sacrifice of the martyr”.
He added that “the bridge is the third bridge opened in Kirkuk after the opening of the bridge that connects the rahimawa martyr military before Qasim and housing in Kirkuk and Memorial Bridge which connects the city centre to Castle market.”
Governor of Kirkuk, promised the bridge as “a link between Kirkuk and southern Iraq and Kurdistan and Iran border to activate commercial traffic and safety for all vehicle drivers and trucks and people in the region.”
He noted that “the bridge costing 12 billion dinars with a length of 300 m and two and 12 meters in height 22 m 15 astronaut work included 13 thousand cubic meters of concrete and cut the mountainous areas in the Valley of Chiyo-sur area of 20 m along approaches to the area of 800 m and the highest bridges in Iraq and completed two years.”
Read More: http://www.dinarupdates.com/showthread.php?48432-The-opening-of-the-top-bridge-in-Kirkuk-Iraq
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Crude oil rises amid optimism about a commitment to cut output
Trend Press / Agencies Oil prices rose in European trading on Thursday, rebounding from a six-week low amid optimism that OPEC will expand its current deal with non-OPEC members to cut output beyond June in an attempt to rebalance the market.
“We expect a global agreement to cut oil supplies to be extended beyond June, supported by greater compliance by non-Opec producers,” Reuters quoted Kuwait’s Oil Minister as saying.
In November last year, the Organization of Petroleum Exporting Countries (OPEC) and other producers, including Russia, agreed to cut production by 1.8 million bpd between January and June.
A joint committee of ministers of the Organization of Petroleum Exporting Countries (OPEC) and non-OPEC members will meet in late April to make a recommendation on the fate of the treaty. The final decision on whether to extend the deal after June will be made by the oil organization on May 25.
London Brent crude for June delivery rose 38 cents, or 0.7 percent, to $ 53.31 a barrel, after falling $ 1.96 in the previous session.
Elsewhere, crude for June delivery rose 34 cents to $ 51.18 a barrel.
Oil has continued to rise in a familiar range since the beginning of the year amid concern that a continued recovery in US shale production and an increase in US inventories could hamper the efforts of other major producers to rebalance global supply and demand for oil.
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A Dinar Updates “FaceBook Live”!!
“LIVE Q&A with BGG”
From – Apr 7th
In the DU FaceBook Group!!
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DayTrader, a News Researcher for DinarUpdates.com, recently had some interesting commentary.
Here are his thoughts:
Article 140 is much more complex than many realize. If you read Article 140 in the Iraq constitution, it refers to Article 58 of the Law of Administration for the State of Iraq for the Transitional Period that outlines all the steps that must be completed. This was a document constructed by Paul Bremmer to be used until a permanent constitution could be developed and ratified by Iraq. Article 58 states:
Article 58.
(A) The Iraqi Transitional Government, and especially the Iraqi Property Claims Commission and other relevant bodies, shall act expeditiously to take measures to remedy the injustice caused by the previous regime’s practices in altering the demographic character of certain regions, including Kirkuk, by deporting and expelling individuals from their places of residence, forcing migration in and out of the region, settling individuals alien to the region, depriving the inhabitants of work, and correcting nationality. To remedy this injustice, the Iraqi Transitional Government shall take the following steps:
(1) With regard to residents who were deported, expelled, or who emigrated; it shall, in accordance with the statute of the Iraqi Property Claims Commission and other measures within the law, within a reasonable period of time, restore the residents to their homes and property, or, where this is unfeasible, shall provide just compensation.
(2) With regard to the individuals newly introduced to specific regions and territories, it shall act in accordance with Article 10 of the Iraqi Property Claims Commission statute to ensure that such individuals may be resettled, may receive compensation from the state, may receive new land from the state near their residence in the governorate from which they came, or may receive compensation for the cost of moving to such areas.
(3) With regard to persons deprived of employment or other means of support in order to force migration out of their regions and territories, it shall promote new employment opportunities in the regions and territories.
(4) With regard to nationality correction, it shall repeal all relevant decrees and shall permit affected persons the right to determine their own national identity and ethnic affiliation free from coercion and duress.
(B) The previous regime also manipulated and changed administrative boundaries for political ends. The Presidency Council of the Iraqi Transitional Government shall make recommendations to the National Assembly on remedying these unjust changes in the permanent constitution. In the event the Presidency Council is unable to agree unanimously on a set of recommendations, it shall unanimously appoint a neutral arbitrator to examine the issue and make recommendations. In the event the Presidency Council is unable to agree on an arbitrator, it shall request the Secretary General of the United Nations to appoint a distinguished international person to be the arbitrator.
(C) The permanent resolution of disputed territories, including Kirkuk, shall be deferred until after these measures are completed, a fair and transparent census has been conducted and the permanent constitution has been ratified. This resolution shall be consistent with the principle of justice, taking into account the will of the people of those territories.
The challenge has always been how to implement the required changes. Those steps coupled with the fact that some of the people that Saddam Hussein forced out and those Sunnis that he brought in are no longer living. The resolution will have to involve their children, plus the process will also be challenged in identifying and finding all these families. This is not a quick fix. IMO that is why Abadi gave the responsibility to create an implementation plan to Barzani and the governor of the Kirkuk province. All of that said, I don’t believe that the implementation of Article 140 is tied to the revaluation of Iraq’s currency. I haven’t found any reference to Article 140 in any of the UN resolutions or SBA documents between the IMF, CBI and GOI.
Read more: http://www.dinarupdates.com/showthread.php?48133-Commentary-from-DayTrader
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tman23 (Dinar Guru) – Coincidental…? You all should be very interested and excited…chatter regarding 4/21 and launching or beginning of something new with in IMF etc…Then i read this…Newshound Guru Stryker Article: “Iraq resumes next Friday talks with the International Monetary Fund and the World Bank“. What makes this so interesting is that everyone is meeting in Washington after they already had 12 day meeting in Amman just last month. Then I saw Legarde in an interview…will be meeting Mnunchin for the first time…Wanna know the date of the meeting …GUESS! Friday…4/21. [post 1 of 2….stay tuned]
Read More: http://www.dinarupdates.com/observer/
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Director of the Issuance Department of the Central Bank: Printed currency volume exceeds 11 billion and 600 million dinars
Most of the Iraqi Central Bank steps are subject to political and legal environment of the country , especially in regard to the deletion of zeros that counted specialists in the earlier trend sensitive and dangerous may still be , but the central remains the most important institution in terms of the need to adjust the financial management in light of the financial crisis experienced by the the Iraqi economy, which must have to deal with dilemmas , whether with regard to the citizen or the work of the central bank itself.
Questions concerning important files posed (range) in this meeting , the director of the release and the Treasury in the Central Bank Aa’bas behind, and with being answered by briefly he pointed out the most important points that showed that the currency is good for circulation deposited Central has exceeded one billion and a quarter of a million dinars an amount that is not a little if they were compensated by the stored banknotes at the bank , as some believe, at the time between the printed currency size has exceeded the “11 billion and 600 million dinars, he urged citizens on the need not to keep large amounts in homes or buried in the ground , the fact that the process of replacing in the event expose Dt to burn or damage costs the central administrative and financial burdens, stressing that the counterfeit currency rate is still within the internationally accepted borders, with the central quest to carry out an information campaign to educate the public on how to distinguish between the original currency and Almzorh.oicol behind on a question about the possibility of having higher versions of a class (50000 ) dinars?
– No at present intention to issue a higher class category (50000) dinars.
* What about the subject of the deletion of zeros and the reason for the delay?
– the decision on the deletion of zeros cannot be taken in isolation from the political and legal environment in the country under conditions the security situation as a result of terrorist acts and exit from the provinces outside the control of the state for the years 2014, 2015, 2016 which prevents certainly to wait in the implementation of this project, in addition to that this must be done in coordination with all state departments and the private sector, where it should be followed by changing the paragraphs contained in the various laws, which include a reference to fines or lump – sum collection of fees, must also change the financial and statistical records in order to conform with the project process the deletion of zeros. On the other hand, the technical preparations are underway by us.
* How is the cost of the annual replacement and replacement of damaged currency?
– First , there is no substitution instead of a damaged annually, as the bank instead seeks to issue new papers for security specifications developed, so the cost is reduced in this way it is the cost of issuing new banknotes specifications better used at the same time damaged to the replacement of currency from the previous editions .
We seek to carry out an information campaign to distinguish between original and counterfeit currency
* How discovered the counterfeit currency of the size?
– The Central Bank of Iraq resorted to the use of machines to sophisticated counting and sorting which can detect counterfeit currency, in addition to banks guide using modern techniques in the currency examination, but the problem is not doing shopkeepers enough efforts to use the machines to check the currency, as the bank seeks to campaign media to sensitize the public on how to distinguish between the original currency and counterfeit currency by issuing a booklet definitions and (posters) for this purpose and will be distributed to banks in major shopping malls, and in all cases, the counterfeit currency rate is still within the internationally accepted borders , where even T ratio (0.000025) (Twenty – five million paper sheet).
* What currency damaged by fire or poor storage of citizens compensation mechanisms?
– While we hope the citizens do not keep large amounts in homes or buried in the ground, and to do instead in the deposit with the banks, as the replacement of the burnt currency process or damaged it costs the central bank financial burdens and administrative Colva unwarranted, however the bank is to receive citizens whose savings in Iraqi currency to fire accidents provided that they are documented by the civil Defense Department and be sourced from the project, either in terms of currency (buried) are sufficiency statement on the sources of these funds, and in this regard we call on citizens not to accept the mediation of any hand to Astb The Iraqi currency and that this bank does not receive any commission for its replacement.
We applied security methods with modern technology advanced counting and sorting currency
* What future plans for the central bank currency and print?
– Iraqi Central Bank seeks to keep pace with the evolution of printing currency and modern technologies both in currency printing or counting devices and sorting the currency where they are constantly adding new security features in addition to the acquisition of advanced machines counting and sorting currency, was dispensed with final counting and manual screening process.
* How much is the size of the torn currency and how much of the size of the printed currency?
– The number of banknotes unfit for circulation deposited with this bank (1,277,049,543) cash paper of various categories, where they are compensated from the stored banknotes have this bank, as the number of printed banknotes (11,615,265,154) cash paper of various categories.
Iraqi Dinar/Dollar auction 04-25-17 (most recent listing)
Currency Auctions Announcement No. 3429
This daily currency auction was held in the Central Bank of Iraq on the 04-24-2017
| DETAILS | NOTES |
| Number of banks | 35 |
| Number of remittance companies | 11 |
| Amount sold at auction price (US$) | 150,855,122 |
| Amount purchased at Auction price (US$) | —– |
| Total offers for buying (US$) | 150,855,122 |
| Total offers for selling (US$) | —– |
The results were as follows:
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The following .PDF is the review by RCookie of the IMF board’s publishing of Iraq’s SBA (excellent info) – He would have wanted you all to have it.. posting the whole .PDF was the only way to get it on here. Enjoy. BGG
Robert Cook CSW CSS CBP CST CTC
Iraq:
IMF EXECUTIVE BOARD COMPLETES FIRST REVIEW IRAQ’S STAND-BY ARRANGEMENT (45 pages…)
| CURRENCY | CODE | SELL | BUY |
| US dollar | USD | 1184.000 | 1182.000 |
| Euro | EUR | 1284.403 | 1283.761 |
| British pound | GBP | 1517.710 | 1516.952 |
| Canadian dollar | CAD | 877.557 | 877.118 |
| Swiss franc | CHF | 1190.309 | 1189.713 |
| Swedish krona | SEK | 133.560 | 133.494 |
| Norwegian krone | NOK | 138.930 | 138.860 |
| Danish krone | DKK | 172.658 | 172.571 |
| Japanese yen | JPY | 10.760 | 10.754 |
| Special Drawing Rights |
SDR | 1620.103 | 1619.293 |