"The Daily Dinar " ..........Thursday,20 June 2013
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Thread: "The Daily Dinar " ..........Thursday,20 June 2013

  1. #1

    "The Daily Dinar " ..........Thursday,20 June 2013

    Part 1 Millionday Discussion

    millionday] Economists called the Iraqi Central Bank to prepare from now to take file protection of Iraqi funds in banks in the United States of America and to take appropriate action to close this file and restore the sovereignty of the country's money.

    U.S. President Barack Obama announced the middle of last month to extend the period of legal protection for the Development Fund for Iraq and some other Iraqi assets in the United States of America.

    And shape Iraq Hamaihalamwal Fund DFI under UN Security Council Resolution 1483 to protect Iraqi funds from international claims after the events of 2003, and since that time, Iraq requested extension of protection to his money because undergoing Chapter VII of the UN Charter.

    [millionday] Economic and academic called Essam because the central bank is poised and since now directly own procedures to close this file and return the money to the Iraq or transferred to other foreign banks under the supervision of the government to protect them from foreign claims.

    He said in a statement (morning) that it is not reasonable to the survival of Iraqi funds of this size in the outer banks for a longer period, pointing to the need to seek to remove Iraq from Chapter VII and regain control of his money again. He pointed out that the central bank is able to protect the funds from external creditors claims he has a good experience and competencies.

    [millionday] note -- the call for the return of the actual money in the accounts here and return to iraq

    [millionday] huge

    millionday] He pointed to the need to take measures and precautions of a new potential creditors after the transfer of funds to Iraqi sovereignty because there are demands illegal and fraudulent central bank must pay attention to them.

    For his part, member of the Parliamentary Economic Commission MP Amer winner that Iraq is able to protect and control of his money when he emerges from Chapter VII.

    [millionday] He said the winner told the (morning) that there are companies and institutions and people eagerly awaiting the withdrawal of Iraq from Chapter VII to demand their money and lawsuits against him.

    Unlikely that Iraq would refuse to pay money to companies supported the former regime in suppressing the people.

    He cautioned that such claims will be taking in accordance with international law and will resolve the judiciary proceedings in favor of the companies that have the strongest arguments, stressing the need to give this issue of paramount importance because it is Iraqi money and will benefit the people, when Iraq regains control.

    [millionday] He said Iraq now need to invest this money in infrastructure projects and reconstruction, but it depends on the exit of Iraq from Chapter VII. Calling for the need to resolve this file as soon as possible because it represents the restoration of prestige Iraq represented to regain control of his money discretion placed under American tutelage, under the supervision of the United Nations for years.

    [millionday] wow -- this is great and shows huge progress so that is a great whopper and is a huge sign of where we are going -- love it brb with more

    faith1] so when chapt. 7 is released,, the USA releases Iraq monies,, on or about the 27th ??

    [[millionday] faith1 thats how it looks hun

    [millionday] Of things for granted that the absence of the private sector means the absence of creativity and speed of adjustment to market needs and provide employment outside the public sector as well as the lack of competition between the private and public sectors to the continued deterioration of the efficiency of the latter which requires government intervention to protect the public sector through financial support

    and protection policy customs annual support rate is currently $ 3 billion Mini inert protect the institutions of productivity at the expense of the citizen who finds case obliged to purchase goods and services at a higher price and the quality is poor.

    millionday] This is what began dean of the Iraqi Institute for economic reform d. Kamal Al-Basri in his speech for the "morning" as he said: In order to create a favorable environment or appealing to the activity of each of the private and public sector and restructure the structure of the economy as the global context should first reform of the business environment of the procedures, laws and make it a suitable environment

    as well as the achievement of human development is needs Rights of basic services, especially education as it can not achieve development without the positive interaction of the citizen,

    so as to ensure the rule of law and good governance of the different institutions all this is one of the requirements of the development of the Iraqi economy, he said.

    [millionday] note -- the beginning of the economic reforms and that will initiate the reforms in all other areas for jobs infrastructure -- banking ect

    [millionday] And goes on visual analysis of the reality of the economic policy of the country indicates, for example, that because of limited job opportunities that could be created by the public sector government is seeking to create jobs by increasing the number of employees of the police and the army

    and take advantage of the surplus cash in the purchase of military equipment, as well as the adoption of returns oil on the price of oil the global market and this measure shows the country's economy to the waves of the tide, which is

    [millionday] public-- meaning gov jobs and for provinces military ect ect

    [millionday] reflected by the sharp fluctuations in oil revenues, pointing out that oil revenues usually benefit the cities more than rural Maysbb immigration status usually periods of time resulting in bottlenecks sharp because Inadequate supply of services in relation to demand and to social and economic problems of multiple reflected on the economic policies in the country through poor rural contribution to agricultural and livestock production and for changes in the fertility of the land and thus lead to serious losses.

    [millionday] note -- meaning they will have jobs because of the actual needs that will be created by opening to the globe and supplying the resources that will benefit the country as a whole so -- naturally many jobs will be created --

    millionday] note -- these reports must have the citizens jumping for joy after all this time

    [millionday] In another significant visual pointed out that the agricultural sector contributes in the amount of 4.15 percent of GDP, despite the fact that arable land accounts for 20 percent of the area of ​​Iraq and that nearly 75 percent of the irrigated farmland suffers from salinity caused by the mismanagement of perfusion

    reminding The Statistics Food and Agriculture Organization of the United Nations indicate that farmland cultivated actually about 13 million acres, enough to meet the country's needs of food necessary for living 45 million citizens,

    pointing out that Iraq imports about 80 percent of the local market need for food, expressing surprise at this contradiction and calling for a study of this reality and search in order to find the solutions required to benefit from the available agricultural land and originally neglected.

    [millionday] note -- remember as well that kurdistan needs huge imports of food so this is great for their relations as well [millionday] more on the reform

    [millionday] With regard to the industrial sector indicates the optical out that the contribution of the industrial sector in GDP is estimated at 1.26 percent of GDP with the number of plants owned by the state amounting to 192 plants employing a total of 800,000 individual

    pointing out that they suffer from technological backwardness and obsolescence as well as he after 2003 suffered a lot from these projects of destruction and become most of them with technology lagging productivity and low and a financial burden on the state, pointing out that

    [millionday] because of the inefficiency of these projects to achieve the revenue necessary to cover the costs of production, the government is obliged to provide support amounting to $ 3 billion

    noting that the Council of Ministers issued a law to reform these institutions, but he has not been working with so far requires restructuring and privatization of these projects and the implementation of governance programs in management.

    [millionday] For his part, said economic expert harmful Sbahi "morning" in the same regard, it is useful to learn more about the reality of the private sector through the study made by the International Labour Organization for micro-enterprises and small and medium-sized businesses in Iraq,

    where the organization has, in cooperation with the UN Office for Project Services to conduct two surveys on the corporate sector in Iraq and the results show that there are 84.5 percent of the institutions run by individuals and 12.1 percent are managed as a company.

    [millionday] note -- that is huge for the private sector -- now that looks as it should -- the people win -- love it

    [millionday] The added that the scientific level of the workers in these institutions 5.6 percent Lamy 17 percent reads and writes and 31.4 percent primary education and secondary education 21.4 percent and 9.5 percent and 0.1 Graduate Graduate useful that 7.4 percent have a bank account and 90 Iraqi ,

    7 percent Unrecorded institution at any point and 23 percent of the sample pay taxes and 8 percent are enrolled in the Social Development Fund, warning that these results are Atbashr well and need government support thoughtful to the private sector based on comparative advantage and

    [millionday] the output of production and not inputs as well as providing training and qualification of new technology and material support bis say the importance of the adoption of these figures as indicators of the government's performance fell reconsider everything stated in these figures towards strengthening human capacity through training and rehabilitation.

    [millionday] He Sbahi at the end of his speech the need to overcome the country on these challenges and reform of the economic environment and the legal and procedural in Iraq and enacting laws deferred,

    which depend in encouraging foreign investment necessary and provide capital quantity and duration necessary, technological development and administrative noting that all of this will lead to human development we desperately need reference. [millionday] end of report

    [millionday] wow that is what we have been saying for years red -- now with this they are saying they are moving forward with the economic reform


    [millionday] smile

    [ROBINREDHED] i do have a ?

    millionday] ok

  2. #2
    Part 2 Millionday Discussion

    [ROBINREDHED] so i was having a chat w a member the other day and we were chatting about the 27th the member was of the impression that the 27th was just a discussion about the official vote in july your opinion?

    [Mrs. Beans and Rice] ROBINREDHED -- i read an article where Kobler said they would be released before the end of June

    [Sager] To add to Robin's question, I believe the US will be chairing UNSC in July

    [millionday] i completely disagree

    [millionday] kobler made an announcement that iraq will be released before the end of june today and they have made it clear with moon`s official announcement by paper to iraq and kurdistan that they have completed and will be released

    [Mrs. Beans and Rice] Kobler: Iraq emerge from Chapter VII by end of June 19-06-2013 03:44 PM Baghdad (newsletter). Special Representative of the Secretary-General of the United Nations in Iraq, Martin Kobler, that international sanctions imposed on Iraq will be lifted before the end of June.

    [ROBINREDHED] so the vote? will all just show up? its not scheduled yet?

    [millionday] they even made it seem after the meeting on the 14th in kuwait that they too were ready -- now right now in parliament they are voting through the maritime traffic or -- in the water traffic

    [millionday] they have announced that it is the 27th in multiple forms and reports in all resources as an official meeting of the release


    [Sager] millionday I noticed in the UN schedule that it says: Iraq/Kuwait "Consultation".... should it not be "Adoption"? or does it even matter?

    [millionday] Special Representative of the Secretary-General of the United Nations in Iraq, Martin Kobler, said Wednesday that international sanctions against Iraq will be lifted before the end of June. Kobler said at a joint press conference with the head of the Basra Governorate Council behind Abdul Samad, that "the United Nations will step late June to raise the seventh item on Iraq because the most important issue in this item are the demarcation has been agreed". smile

    [millionday] i think we have no worries and the rest of what is going on is very exciting as well they have made many banks counting and sorting banks -- del a rue and have added separate rooms for that process for the citizens [millionday] whooop whooop

    [millionday] let me check one more place -- i think i have something on the laws in place -- brb

    [millionday] Recommended that UN Secretary-General Ban Ki-moon in a report submitted to the Security Council, to derail Iraq from the provisions of Chapter VII after Ivaúh all its international obligations. Comes at a time searchable and Foreign Minister Hoshyar Zebari with the ambassadors of the five permanent members of the Security Council accredited to Baghdad,

    the ongoing deliberations of a new resolution in the Council to remove Iraq from Chapter VII, while stressing the Special Representative of the Secretary-General of the United Nations in Iraq, Martin Kobler, the importance of developing economic relations between Iraq and Kuwait next step after rid Iraq of international sanctions.

    [wmawhite] millionday ......is this what you call......."straight forward?"

    [wmawhite] Moon's comments

    [millionday] smile

    [wmawhite] Yes!!!

    [millionday] The Western sources familiar with, told the "morning" in a telephone conversation on Wednesday of last week, that the UN Security Council vote on Iraq out of Chapter VII on June 27 Current after Iraq's commitment to the implementation of all UN resolutions.

    Also confirmed these sources high, such that directions came after the approval of the State of Kuwait on it, and obtaining the green light by Russia recently.

    These are recommendations internationalism important achievement is calculated on the foreign policy success for the government, confirms that Iraq returned stronger than the events of 1990, which saw the occupation of the dictatorial regime of Kuwait.

    [millionday] said so Moon in his 35th report to the Security Council and the Security Council resolution 1284 of 1999: "It commends both Iraq and Kuwait for their efforts which led to the solution of outstanding issues between the two countries to remove Iraq from Chapter VII."

    and recommended Ki-moon in his report on the implementation of Iraq with its obligations International, directed from Chapter VII after the completion of the maintenance project marks the border between Kuwait and Iraq,

    in implementation of Security Council Resolution No. 833 of the year 1993, and the progress that has been made to settle the issue of land and private property Iraqi citizens that have occurred within Kuwaiti territory.

    millionday] i love this report i think i have a little tear in my eye lol

    [wmawhite] millionday .....some folks believe that the IMF loan could delay Iraq's decision to RV...................your thoughts?

    [millionday] The Secretary-General of the United Nations that "the common ground agreed by Iraq with Kuwait in respect of missing Kuwaitis and Kuwaiti property is an important achievement refers to a new level of mutual trust and a new chapter of relations between the two neighboring countries,"

    adding that "Iraq's implementation of its commitments within the framework of Chapter VII, on the border with Kuwait created the right conditions for further progress in relations between the two countries.

    [Sager] wmawhite I'd like to post something from an awesome researcher called CountryGal... if I may... re: imf loan

    [millionday] no it is for the very expensive plans they have and the need to do such a huge reform -- the loan will not delay imo

    [millionday] i will finish this report first hun and then we will be glad to look at what you have my friend

    [Sager] ok millionday, thank you

    [wmawhite] millionday ......My thoughts.....I concur with you.......the IMF makes loans all the time...........this only helps Iraq.

    [millionday] It should be noted that the visit of the Kuwaiti Prime Minister Jaber Mubarak Al-Hamad Al-Sabah to Iraq last week, concluded the agreement eliminates remove Iraq from Chapter VII, and draws the foreign ministers of the two countries to New York to submit a request to the United Nations, as well as strengthening relations between the two countries after the signing of joint agreements .

    millionday] we will just look at that this last part the rest is the history

    [millionday] In the meantime, announced the Special Representative of the Secretary-General of the United Nations in Iraq, Martin Kobler, the international sanctions imposed on Iraq will be filed before the end of June,

    because the most important issue in this item is the demarcation of the border has been fully agreed upon. He said Kubler during a joint news conference with the head of the provincial council in Basra, Khalaf Abdul Samad in the provincial council building on Wednesday:

    "The United Nations will lift Chapter VII of Iraq by the end of June current, because the most important issue in this chapter is the demarcation of the border has been agreed upon Full.

    [millionday] Kubler, who visited Basra yesterday afternoon after visiting Kuwait, pointed out that "there is a step should be to talk about the development of economic relations between Iraq and Kuwait in the post-Chapter VII," pointing to "the existence of specialized committees to continue the search for missing Kuwaitis, as well as resolve the file Kuwaiti documents and returned to Kuwait

    [wmawhite] millionday ...it is amazing that everybody is saying the same thing..........Moon, Kobler, Kuwait, Zabari, etc.....

    [millionday] note --this was on the agenda yesterday and is being dealt with right now

    [millionday] For his part, head of the provincial council in Basra, Khalaf Abdul Samad during the conference that "Iraq's cooperation in resolving a border with Kuwait for the lifting of sanctions,"

    pointing out that "Basra will be allocated a large part of the investment funds in the agreement between the two sides of Iraq and Kuwait, which eliminates Kuwaiti investment funds for debt owed by Iraq in the establishment of investment projects, "he said.

    Abdul Samad pointed out that "the Basra Governorate Council would be the Department of Foreign Relations means for activating international relations with neighboring countries and activation of the twinning between Basra and the global economic cities."

    millionday] so that is the end of that report and it is amazing and made very clear where they are with this -- very nice to see all agreeing

    [ROBINREDHED] wmawhite AGREE

    [millionday] the loan with the imf should be expected to make sure that iraq can complete so many things per agreement at one time as they activate the reforms and the infrastructure ect

    [wmawhite] millionday ..concur.....lol

    [millionday] so that is the great great news we have for tonight -- so sorry it took so long to load tonight

  3. #3
    Economist Opinion: Private banks selling the dollar at a lower rate than the CBI would support the stability of the dinar exchange rate

    Baghdad (newsletter). Commended the Committee for economy and investment representative step some private banks to sell foreign currency at a lower price than the advertised price by the Central Bank, which will contribute to the stability of the exchange rate of the Iraqi dinar against the US dollar.

    The Rapporteur of the Committee, said MP/Kurdish/Actel Coalition mehma Khalil (News Agency): civil and State banks have a link with the Central Bank in the sale and purchase of foreign currency in order to convey to citizens, whether inside or outside Iraq.


  4. #4
    Iraq banks cut the price of the dollar to strengthen the stability of the foreign exchange market

    Initiated most of the Iraqi private banks cut dollar exchange rates of 1189 dinars to 1183 dinars to the citizens and the 1178 documentary credits, in a move aimed at supporting the actions of the Iraqi Central Bank to stabilize the foreign exchange rate.

    The «Central» Iraq announced in a statement, received a letter from the Association of Iraqi private banks which emphasizes «previously announced commitment to the initiative of three banks to sell the dollar eligibility to citizens at the lowest price. He said that the initiative «represent normal behavior show by Iraqi banks to stand with the trends of monetary policy, and the keenness of the Central Bank of Iraq with these banks to support the


  5. #5
    The foreign ministers of Iraq and Kuwait will meet in America soon to put an end to sanctions on Baghdad

    Haider Ali Jawad – Visit Hoshyar Zebari, the Iraqi foreign minister and his Kuwaiti counterpart Sheikh Sabah Al-Khaled Al-Hamad Al-Sabah, the United Nations soon, to resolve to expel Iraq from Chapter VII.

    Fouad said Alldorki, MP for the coalition of state law, ruling in Iraq, for “News of Moscow”, “The Foreign Minister Zebari, and his Kuwaiti counterpart, will visit America, to meet with the Secretary-General of the United Nations, and the resolution to expel Iraq from Chapter VII soon.”


  6. #6
    Iraq obtained the green light from the United Nations to take it out of Chapter VII

    Recommended by the Secretary-General of the United Nations Ban Ki-moon, on Thursday, UN Security Council, remove Iraq from Chapter VII and subdue the remaining differences between Iraq and Kuwait to Item VI of the UN Charter, instead of the seventh.

    The Chapter VII of the UN Charter authorizes the Security Council to use force to enforce the decisions either through sanctions or military intervention; while urging Section VI states to resolve their differences through peaceful means, it is expected that the UN Security Council to consider the adoption of the draft resolution in this regard on June 27 of this month.


  7. #7
    The First Batch of New Iraqi Provincial Governments

    12 Iraqi Provinces Have New Governors; Anbar and Nineveh Hold Delayed Elections

    Posted by Reidar Visser

    Things are not going too bad in local politics in Iraq: As of this week, all governorates that held provincial elections on 20 April have formed new local governments following certification of the final results in late May – hence more or less on time and in accordance with the legal framework. During the past few days, on top of the councils that were formed last week, new local governments have been seated in Karbala, Muthanna and Diyala.

    As with the first batch of new governorate councils, a variety og government-formation dynamics prevailed in the last three councils. Karbala saw the emergence of a “political majority” government led by the State of Law alliance of Prime Minister Nuri al-Maliki and various local blocs including that of the sensation from the 2009 elections, Yusuf al-Hububi. The Sadrists and ISCI remained on the sidelines. Conversely, in Muthanna, Maliki’s allies cut a deal with ISCI to keep the governor position for themselves whereas an ISCI politician became council speaker. Finally, Diyala saw a particularly interesting deal whereby Kurds and a local Iraqiyya list formed the government with the support of the Sadrists – but not the other Shiites with whom they had run on a joint pan-Shiite ticket (mainly State of Law councillors including several from Badr and Fadila).

    This makes for the following table of all the new 12 councils elected on 20 April:

    Beyond the broad three-way classification of “consensus” and “political majority” (pro-Maliki and anti-Maliki), there are further nuances in this picture. For example, in Basra, ISCI in principle held the votes to exclude Maliki and more or less dictated the terms whereby the popular governor from Maliki’s list was given the consolation prize of the council speakership. In Maysan, perhaps the governorship given to the Sadrists more than anything reflects a longstanding association between the Sadrists and that governorate.

    In sum, the outcome of the local government formation is a mixed bag for Maliki. He keeps control of the shrine cities of Najaf and Karbala and consolidates his position in Mid-Euphrates governorates where ISCI was formerly strong. On the other hand, the loss of Baghdad and Basra must be painful, and with additional marginalisation experienced in Wasit and Diyala there should be plenty to think about as the parliamentary elections of 2014 approach.

    Meanwhile, delayed elections for local councils in Anbar and Nineveh are being held today. Much is a stake in an area that is sandwiched between rising Sunni militancy in neighbouring Syria and a Baghdad government with which attempts at rapprochement have so far been quite ambiguous. Provisional results should be expected next week.


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