BAGHDAD / NINA / A leader of the Motahedoon coalition, MP Hamid Kassar al- Zobaie said: "14 political entities have joined the Motahedoon coalition to enter the upcoming parliamentary elections in a broad list."
He told the National Iraqi News Agency / NINA / " The last who joined the coalition are members of the House of Representatives for the National Dialogue Front of Diyala province , including MP Raad Dahlaki , pointing out that" the majority of the members of the House of Representatives of the former Iraqiya List joined Motahedoon.
Zobaie added, "The coalition holds a national project to save Iraq and to form national government meets the aspirations of the Iraqi citizens in achieving security, stability and services."
SBV stays steadfast amid recommendation on currency devaluation
Last update 09:01 | 10/12/2013
VietNamNet Bridge – Two independent reports about Vietnam’s macro economy recommending the local currency devaluation of 2-4 percent in 2014 have been released.
The report about Vietnam’s economy in the last 11 months by the National Finance Supervision Council says that Vietnam needs a stable exchange rate policy, but it is necessary to set up a new currency parity in the new context, when the global financial and monetary crisis has established a new price ground.
The report by the independent research center BIDV released on December 4 also made the same suggestion. The authors of the report predicted that with the dong devaluation by 2-4 percent and the trading band of 1 percent, the dollar price would be at VND21,400-22,000 per dollar, which would benefit the export and help improve the trade and general balance.
Why “2-4 percent”?
The reports of the independent organizations were enough to push the dollar prices up.
Vietcombank on December 5 quoted the prices at VND21,100 – 21,140 per dollar (buy and sale). On December 6, the price moved up slightly to VND21,130-21,170 per dollar. If comparing with the December 2’s exchange rate at VND21,085 - 21,125 and the exchange rate of the days before at VND21,080 – 21,120, one can see that the dollar price has increased by VND50 per dollar.
Nguyen Manh, the head of the team that compiled by the BIDV’s report, said the current factors all support the stability of the dong/dollar exchange rate. The foreign currency supply is high thanks to the foreign direct investment (FDI), official development assistance (ODA) and overseas remittance increases.
Meanwhile, the domestic demand which determines the import activities would not see big changes in the remaining days of the year.
The stability of the exchange rate is also supported by the macroeconomic foundation and strong foreign currency reserves, about $30 billion, equal to 12.5-week’s import turnover, by the end of 2013 and 14-week’s import turnover in 2014.
Therefore, we forecast the 2-4 percent dong devaluation and the trading band of 1 percent which would be maintained through 2014. The exchange rate would be between VDN21,400 and VND22,000 per dollar.
The common thing found in both of the reports is the conclusion that Vietnam should depreciate the dong slightly in order to help boost export.
However, this seems to not coincide with the watchdog agency’s viewpoint.
In mid-2011, the State Bank admitted the thin foreign currency reserve, just equal to 3-5-week’s import turnover. However, the reserve has been increasing steadily over the last two years.
The State Bank has been doing everything to control the foreign currency supply and demand. It “buys 7 and sells 3” on the interbank market, tightly controls the gold market and prevents gold imports across the border. Especially, it has decided that only the businesses which can earn money in foreign currencies, can borrow capital in foreign currencies from banks.
Meanwhile, the dong liquidity of the banking system is very strong. It is obvious that banks have profuse capital, but they don’t know what to do with it. In such a context, it is understandable that big banks expect to see the “foreign currency price waves” to make profit.
However, the watchdog agency’s viewpoint is different. Deputy Governor of the State Bank Le Minh Hung affirmed that the foreign currency demand and supply are still in balance, and that the current dollar price increases are just temporary.
Barzani: Kurdistan is exporting oil, not smuggling it
BAGHDAD / NINA / President of KRG Nechirvan Barzani confirmed that "exporting oil from the region is a constitutional right, stressing that the Kurdistan region is exporting oil not smuggling it."
A statement from the Patriotic Union of Kurdistan (PUK) quoted Barzani's refusal, during an interview with Al-Arabiya, the accusation of Deputy Prime Minister for Energy, Hussain al-Shahristani , that the region is smuggling oil not exporting it , stressing that "exporting oil is a constitutional right to the Kurdistan region" noting that" we had taken this right from the Constitution, and we ready for any negotiations with Baghdad , "explaining that the largest oil companies in the world are operating in the Kurdistan region ."
Barzani confirmed that the region suffered harassment from Baghdad, perhaps the last of which preventing private aircraft from landing at the airport in Arbil, that gives a wrong image against the region.
MP: The failure of politicians to be Statesmen pushes businessmen to enter elections
BAGHDAD / NINA / MP, of the Motahedoon coalition, Wahda al-Jumaili said, "The failure of the politicians to be Statesmen pushed the businessmen to participate in elections and enter into the realm of politics."
Jumaili added, in a statement today Thursday 12, Dec "There are businessmen turned to politicians through their direct participation in the elections or through their strong financial support to certain lists."
She explained, "The businessmen's participation in the elections or supporting certain lists comes, either to their sense of moral responsibility towards the country or because of the failure of politicians to be statesmen, or for commercial gain through the control of Ministries of their nominees and this is probably".
Jumaili called on voters to be honest to their votes in the elections, and do not bring those seekers for the next government.
Qusay al-Suhail discusses with the UN mission, political situation in Iraq and the region
BAGHDAD / NINA / First Deputy Speaker of Parliament, Qusay al-Suhail discussed with the deputy ambassador of the United Nations in Iraq, George Posten , developments in the political situation in Iraq and the region .
A statement by the Information Office of al-Suhail said, "Suhail received Posten and discussed with him the implications of the problems in the political process as well as the security situation in the country, and the need to conduct parliamentary elections on schedule."
He called on the UN mission to contribute effectively to find common ground for the political blocs to resolve the differences in some of the outstanding issues in the political process .
For his part, Posten expressed United Nations' readiness to continue the dialogue on all levels to provide solutions and treatments to get out of all crises and problems, expressing regret for the bombings that hit Baghdad and other provinces stressing the need to stand united against terrorism.
MP calls both House and Ministers to adopt 13% of the budget for the Kurdistan region
BAGHDAD / NINA / MP, of the State of Law coalition, Sadiq al-Labban asked the " House of Representatives and the council of Ministers to adopt 13 % of the budget to the Kurdistan region .
He told the National Iraqi News Agency / NINA / The Kurdistan region's share of the budget does not exceed 13%, according to the number of population of the region according to statistics of the Ministry of Commerce, adding that the region's claim to get 17 % of the budget is unconstitutional and illegal."
He called all the political blocs not to compliment with the Kurdistan Alliance and make deals with them, at the expense of the budget's share of the other provinces. "
Kurdish MP warns from repeating the scenario of the dispute over the federal budget between the federal government and the province
BAGHDAD / NINA / MP, of the Kurdistan Alliance, Ashwaq al-Jaf warned from repeating the scenario of the dispute over the federal budget for the next year between the Governments of the center and the province.
She, in a press release, called the political blocs not to make the issue of Peshmerga forces and the oil companies operating in the province, a dispute between the two sides , stressing the need to move beyond this dispute by forming negotiating committees based on solution map compatible with constitutional and legal terms not on political interpretations.
She added: "The discussions on the budget will be very arduous, and there are many projects that depend on the adoption of the budget, therefore the delay is not in the interests of everyone."
It is mentioned that the Minister of Planning, Acting Minister of Finance, Ali al-Shukri announced, two days ago, that the Cabinet would study the observations on the federal budget bill.
Shukri said at a news conference after the weekly cabinet meeting:" "the council would send the bill of the federal budget to the House of Representatives after studying the notes."
Meantime, a leader of the Kurdistan Alliance , Mahmoud Othman said that the differences are still ongoing between the federal government and the government of the region around the dues of oil companies and the Peshmerga in the federal budget , which means that the Parliament on the verge of a new round of tough negotiations before approval.
He added "The Kurds fear repeating the scenario of approving the budget in 2013."
Al-Hakim meets with the Iranian Ambassador in Iraq
BAGHDAD / NINA / The head the Islamic Supreme Council of Iraq, Ammar al-Hakim discussed with the Ambassador of the Islamic Republic of Iran in Iraq, Hassan Danaii Far bilateral relations between the two countries.
A statement from the Islamic Supreme Council said: "The two sides discussed, during the meeting, bilateral relations between Iraq and the Islamic Republic of Iran, and ways of developing them to serve the interests of the two peoples and the two brotherly countries, in addition to addressing the situation in the region."