The Dinar Daily, Friday November 14, 2014
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  1. #1

    The Dinar Daily, Friday November 14, 2014





    The Exchange Rate of Foreign Currency in Economic Feasibility Studies

    Below are the central controls related to the exchange rate of the foreign currency to convert the project inputs and outputs from foreign currency to its equivalent in the local currency, and that is by calculating the net discounted present value standard and the internal return on investments in economic analysis that governs investment projects that costs excess one million dinars.

    Estimate the shadow price of foreign currency:

    1. It is necessary to put central controls to amend the official exchange rate * to reflect the shadow price of the foreign currency, and that is considered one of the necessary requirements to implement the net discounted present value standard and the internal return rate on investment in the economic calculation stated in the instructions, paragraph nine.

    The central controls for adjusting market prices distinguished a group of outputs and inputs traded internationally, where the projects production or usage of them is reflected on the abundance of foreign currency in the economy and thus project outputs or inputs used of such are considered purely foreign currency outputs or inputs.

    * What is meant by exchange rate: the number of units of foreign currency, expressed in dollar per one dinar.In particular the following outputs and inputs of foreign currency were distinguished:


    • Export-outputs.
    • Outputs marketed locally that substitute imports.
    • Imported inputs.
    • Inputs produced locally that usually go to exports.
    • Foreign labor.


    According to the pricing rules the value of the output and input (traded) is calculated using export prices (FOB) and import prices (CIF), according to what is listed in the pricing rules.

    In other words the pricing rules calculate what the project produces from foreign currency (quantity of exports multiplied by the export price (FOB) in foreign currency or the quantity of substitute imports multiplied by the import price (CIF) in foreign currency, as well as what the project uses from foreign currency and imported inputs multiplied by the import price (CIF) in foreign currency …. etc.).

    In a later step, project outputs and inputs must be converted from the foreign currency to its equivalent in local currency (dinars) by using a specific exchange rate for the foreign currency.

    2. Justifications for exchange-rate adjustment: there are a number of important and powerful arguments which support the view that the official exchange rate reduces the real value of foreign currency for purposes of calculating the economic national profitability for investment projects and hence for the purposes of investment planning. It is demonstrated in this context to call for assessing the dinar for less than (3.208) dollar (official exchange rate) when assessing project outputs and inputs of traded goods of exports, substitute imports and imports… etc.

    The justifications to call for the use of an exchange rate that is lower than the official exchange rate are:


    • The use of an exchange rate that is lower than the official rate is the appropriate action at the investment planning level to translate the country’s economic strategy aiming at stimulating central investments in the sectors that encourage the development of non-oil exports, as well as sectors that encourage the expansion of domestic production base in order to reduce imports and compensate it with local commodities. This helps to reduce reliance on foreign exchange earnings from crude oil exports and increases the share of non-oil sectors in the local production.
    • The application of the amended exchange rate on project imported inputs will assist in directing investments away from aggregated sectors dependent on imported inputs and the preference of those sectors that rely on locally produced inputs.
    • The use of the amended exchange rate helps to correct the balance in favor of the traded goods sectors compared to non-traded goods.
    • The real exchange rate has declined rapidly since the early seventies, through rapid rise of the level of prices and local costs which led by the steadiness of the official exchange rate to change in prices and actual local rate costs that gave an advantage for imported goods at the expense of locally produced goods, meaning that it led to deterioration of the competitiveness of alternative replacement goods and export commodities.
    • This action shows that the official exchange rate overestimates the value of the dinar, compared to the foreign currency and from the promoting goods substituting imports and export commodities point of view of.


    And in support to this view is the state’s utilization and in a broad approach to the customs and quantitative protection policies especially for consumer goods, as well as export subsidies that exports have through an amended export exchange rate.

    3. Estimate the amended exchange rate of the Iraqi dinar to be used in technical and economical feasibility studies and for (1.134) dollar per dinar. This price should be approved for 3 years until re-appreciation by the competent authorities.



    The Republic of Iraq – Ministry of Planning

    and

    A "flashback recap" of a Live Q and A Call from about a year ago - on THE DAILY DINAR NEWS BLOG...

    In general terms – there were three main focal points of interest I wanted to cover and then allow listeners to ask whatever questions they liked.

    1) the SIGR report…


    2) the Gold Article…


    3) the IIER report…


    I started the conversation out last night by highlighting how crazy this campaign being fielded to contact our lawmakers and bank CEO’s and tell them how unfair it is they are getting to exchange (exchange is the right terminology BTW – NOT “CASH-IN”) at 32.00 per Dinar and we are not – is. It is nuts.


    Firstly, “they” are NOT being allowed to exchange “early” – or at 32.00 per Dinar. It makes you sound “stark raving MAD” to be caught saying such things. You would be better off barking at the moon. It is demeaning to the validity of a true currency play.


    Secondly, this is entirely the wrong way to approach them. I pointed out on the call that Poppy and I fielded a very successful such campaign a couple of years ago. However, we sat down and came up with a much different approach. It was designed to get answers and to approach our lawmakers with respect and as their constituents. Not like a bunch of lunatics. We had extraordinary participation (because it made sense) and we received a good response from lawmakers. It started the conversation in a reasonable manner.


    I asked one caller – “when was the last time you asked a banker for money and told him how unfair it was if he didn’t give it to you”??? Obviously – we chuckled…


    Another caller asked me if (as DC had relayed) – the “zero’s were raised” and the lower denominations were in circulation??


    I said plainly “no”…lower denominations being in circulation would (at the very least) imply there had been a value change. If there were no value change the lower denoms would not only be of little value, they would be such a hinderance – people might even throw them away just to get rid of them. So no – no lower denoms. I told the caller to check the
    CBI.iq website for “real” info on rate change.

    The “zero’s being raised” or “deleted” – as explained by any reasonable researcher, economist or authority – is simply the process removing the large (3 zero notes) from circulation.


    Referring to an Enorrste post from today on
    THE DINAR OBSERVER DAILY(you may want to put this on your favorites and check in several times a day – we to it often )

    “…I have never found a single article from the CBI or the IMF that equates “delete the zeros” to the idea of “move the decimal point.” Instead, the statements overwhelmingly come out to mean “remove the large notes from circulation.”


    Also – this recent internal memo put out by Wells Fargo is likely “push back” from this recent campaign. I pointed out that Pinnacle Bank published an article by an “affiliate” in their internal publication and then “highlighted it” in a similar internal memo a couple of years ago. It is just a defense mechanism. I’m sure Wells is tired of having their name dragged through the “internet rumor mill”. This is highly likely the reason for their vigorous denials about handling it in the future. They get so many useless calls – it isn’t worth the headache. Can you blame them??


    Further, for any bank, lawmaker, adviser or official to state the “Dinar is a scam” is nearly as foolish as some of the internet “Gurus”. It is the official currency of a COUNTRY. I pointed out (below) the post from yesterday’s
    DINAR OBSERVER DAILY
    – highlights page 94 of the quarterly SIGR report to THE US CONGRESS in April of 2012…
    __________________________________________________ _____________

    THIS REPORT WAS SENT TO CONGRESS LAST MAY. IT PLAINLY SHOWS IN THIS REPORT THEY EXPECTED THE DINAR TO REVALUE AT AROUND A DOLLAR IN 2013.

    We are seeing and hearing that the inflation rate is still climbing and they are pushing to get us our money?? This report is from page 94 of the massive SIGR report.





    BGG ~
    This is a screen shot from the “Special Inspector General for Iraq Reconstruction” – Apr 2012, quarterly report to Congress. For members of our Government to say they have no idea what is going on here – means they haven’t read some very basic documents presented them.
    __________________________________________________ ______________

    I pointed out (last night) this is a highly speculative investment. We are, in no way, guaranteed anything. However, this SIGR report gives us some valuable insights…

    1) This is information given to the US CONGRESS on a quarterly basis… I find it hard to believe such an information source would intentionally mislead Congress. They tend to frown on such behavior. Which goes directly to the validity of this adventure – against all advice from Wells Fargo or other such naysayers.

    2) It points out there having been a legitimate “plan” – or time frame in motion…having been projected to be done in 2013. We are obviously in “over time” now.

    3) It gives us an idea as to who is in charge…the CoM – or Council of Ministers. Who do they answer to?? Maliki. Period. When is he likely to push this forward?? Historically – he has been a “weak Dinar” policy advocate. However, rumor from his own inner circle admits he can’t win a third term in office without some currency reform.

    I fully expect him to use every tool in his “wheel house” to win – his recent moves in Anbar and the disputed territories prove as much. Currency reform has to be a “biggie”. Though this WAS their thinking a couple of months ago – there is no promise it is still part of their political calculus. We shall see.

    4) Though no guarantee of the actual future plan they wind up engaging – this report points out an increase in value that would have taken the Dinar from “one-tenth of a cent” to a value “of slightly less than $1″..

    __________________________________________________ ______________

    AND

    Coins put on the market !!



    Nora Albjara member of the committee of economy and investment in the House of Representatives revealed that the central bank completed its preparations for the issuance of metal coins of seven small groups, in conjunction with the implementation of the project to delete the three zeroes from the paper currency is currently in circulation.

    She said in her statement Albjara "The project will take between four and five years, and which will be the launch of the categories of small coins gradually."

    He predicted the financial expert Hilal Taan inflation rate declines, with the issuance of metal coins of small denominations in the daily financial transactions, remarkable that 3% of the value of inflation in Iraq due to the presence of large cash block.

    The economic expert on behalf of Jamil Anton, noted that he may not find metal coins accepted by a lot of Iraqis, especially young people, due to the existence of an entire generation of Iraqis had not trading coins due to stop use since the early nineties of the twentieth century

    waradana.com

    And

    CBI is preparing to issue a monetary metal parts



    Metal coins from the category of 25 fils were in circulation until the nineties of the last century

    Nora Albjara member of the committee of economy and investment in the House of Representatives revealed that the central bank completed its preparations for the issuance of metal coins of seven small groups, in conjunction with the implementation of the project to delete the three zeroes from the paper currency is currently in circulation.

    She said in her statement Albjara Radio Free Iraq, "said the project will take between four and five years, and which will be the launch of the categories of small coins gradually."

    He predicted the financial expert Hilal Taan inflation rate declines, with the issuance of metal coins of small denominations in the daily financial transactions, remarkable that 3% of the value of inflation in Iraq due to the presence of large cash block.

    The economic expert on behalf of Jamil Anton, noted that he may not find coins accepted by a lot of Iraqis, especially young people, due to the existence of an entire generation of Iraqis had not trading coins due to stop use since the early nineties of the twentieth century.

    http://www.iraqhurr.org/content/article/26666313.html

    and

    Another "FLASHBACK"...

    Economists Divided Over Deletion Of Zeros

    By Amina al-Dahabi for Al-Monitor.

    The Central Bank of Iraq (CBI) has been attempting to delete three zeros from the Iraqi currency since 2003. This project has raised many concerns among the Iraqi public and within the business community, and Iraqi economists are divided…

    …Haider al-Abadi, the head of the Iraqi parliamentary Finance Committee, told Al-Monitor that while deleting zeros from the current currency is possible, this has been postponed until after parliamentary elections. He noted that studies are being carried out to ensure that, following the currency change, counterfeiting is limited and that Iraqis don’t go back to trading in the old currency.

    The step to delete zeros from the currency has been postponed several times, leading the parliamentary Economic Committee to demand that the CBI accelerate this project, as Al-Sharqiya reported. In a news conference held July 6, the Economic Committee confirmed that the deletion of zeros will lead to an increase in the value of the Iraqi dinar and will have positive repercussions, including a reduction in unemployment and poverty rates in the country.

    ARTICLE LINK



  2. #2

    Re: The Dinar Daily, Friday November 14, 2014

    Ban Ki-moon welcomes the agreement between Baghdad and Erbil



    Welcomed the Secretary-General of the United Nations builder Ki-moon, on Friday, 11/14/2014, the agreement reached between the federal government and the Kurdistan Regional Government in order to settle the outstanding problems between the two sides on the budget and oil.

    The statement said Ban Ki-moon, PUKmedia received a copy of it: We congratulate the Iraqi Prime Minister and President Barzani of the Kurdistan government for their willingness to negotiate and reach agreements for the benefit of the Iraqi people.

    The statement added that the UN urges the federal and regional authorities to consider such a step, and the first task, to settle all outstanding issues in the framework of the Constitution, pointing to the willingness to continue to support this process.


    http://translate.googleusercontent.c...92G7b0On0db0Cw
    Last edited by AR Transplant; 11-14-2014 at 01:17 PM.

  3. #3

    Re: The Dinar Daily, Friday November 14, 2014

    Sulaymaniyah opened an international exhibition with the participation of more than 100 companies representing 20 countries



    Long-Presse / Sulaymaniyah

    The Governor of Sulaymaniyah Behrouz Muhammad, Friday, for the opening of the exhibition (DB Aix) and the International X with the participation of more than 100 local and foreign companies, as he emphasized that the exhibition will contribute to the granting of trust and confidence of the residents of Sulaymaniyah and private traders and demonstrates the stability of the security situation in the province.

    The governor of Sulaymaniyah Behrouz Muhammad in a speech during the opening ceremony (ADP Lakes International) in Taslojh area and attended, (long-Presse), "The X exhibition with the participation of more than 100 local and foreign companies from 20 countries and will continue for four days," noting "The establishment of such an exhibition under the current circumstances is important for the province of Sulaymaniyah."

    Mohammed added that "the exhibition will contribute to the granting of trust and confidence of the residents of Sulaymaniyah and private traders and the continuation of commercial traffic," pointing out that "the Kurdistan region live special circumstances, is war with al Daash, as well as the financial crisis, therefore, the exhibition demonstrates the safety in Sulaymaniyah."

    President of the Chamber of Commerce of Sulaymaniyah Sirwan Mohammed for his part, said in a speech during the opening ceremony, said that "hundreds of local and foreign companies participated in the exhibition and there are foreign companies will exchange contracts with local companies, most notably the airlines."

    The room Sulaymaniyah trade in Kurdistan region of Iraq announced on the third of November 2014 was ready to maintain the opening of the exhibition (DB Aix international), and as confirmed that 130 foreign companies will participate in the exhibition, pointed out that the aim of the exhibition is to build trade and economic relations between the Territory and those companies.

    It is noteworthy that gallery (Aix-de-Paix) is the fourth annual international exhibition held in Sulaymaniyah to rebuild Iraq's Kurdistan region, organized by the Iraqi American Chamber of Commerce and Industry.

    http://www.almadapress.com/ar/news/39680/%D8%A7%D9%84%D8%B3%D9%84%D9%8A%D9%85%D8%A7%D9%86%D 9%8A%D8%A9-%D8%AA%D9%81%D8%AA%D8%AA%D8%AD-%D9%85%D8%B9%D8%B1%D8%B6%D8%A7-%D8%AF%D9%88%D9%84%D9%8A%D8%A7-%D8%A8%D9%85%D8%B4%D8%A7%D8%B1%D9%83

  4. #4

    Re: The Dinar Daily, Friday November 14, 2014

    Parliamentary Oil: Baghdad and Erbil agreement will help to bridge the budget deficit has been re-exported via the Kirkuk oil region



    Long-Presse / Baghdad


    I went back to the Commission on oil and energy parliamentary, on Friday, the Federal Government and the Government of the Territory of the budget on issues related to the general budget and oil exports to "positive" agreement, as shown that this step will help in bridging the "deficit" budget next year, suggested the possibility of exporting Kirkuk oil through Kurdistan .

    Said committee member Ibrahim Bahr al-Ulum, in an interview to the (long-Presse), "The agreement, which was yesterday, between Baghdad and Erbil, on budget and export of oil is a positive step calculates the Federal Government and the oil sector," noting that "this step will be followed by other steps, particularly the upcoming visit of the President of the Government of the Territory. "

    Bahr al-Ulum said that "the economic effects of this very good agreement being absorb nearly half a million barrels of the region's oil future in the general budget, as well as having a great likelihood that efforts are being made in order to re-Kirkuk oil system and the export of oil through the territory tubes", stressing that "These steps push more production and export of oil and improve the overall 2015 budget expected to fill part of the fiscal deficit, especially if oil prices fell below $ 80 per barrel."

    Bahr al-Ulum said that "the closest solution and better is resolving the situation between the Kurdistan region and the implementation of the terms of the political agreement that was agreed upon by the political blocs before the formation of the government," pointing out these items Item 17 requires the federal government launch a predecessor to the region, and the region the granting of oil production to the Federal Government through the Federal Ministry of Oil. "

    He favored a member of the Commission on oil and energy parliamentary "The agreement represents a positive factor to pass the 2015 budget, especially that the agreement between Baghdad and Erbil provides money to the state to cover some of the deficit, which the state will face next year."

    The oil minister, Adel Abdul-Mahdi, announced on Thursday (November 13, 2014), agreed with the President of the Kurdistan Regional Government to the Federal Government to transfer $ 500 million for the region, and among the agreement to ensure that the Government of the Territory status 150 000 barrels of crude oil a day under the disposal of the federal government, confirmed that the President of the Government of the region will visit Baghdad at the head of a delegation to develop a "comprehensive" and constitutional solutions to resolve outstanding issues.

    The Secretary-General of the United Nations Ban Ki-moon on Friday welcomed the agreement Baghdad and Erbil on issues related to "the general budget and exports of oil," and while calling the federal and regional authorities to invoke this "important first step" to resolve the outstanding "constitutional" problems, stressed that the mission UNAMI is ready to continue to support this process.

    The head of the Kurdistan Regional Government Nechirvan Barzani, Wednesday, (November 12, 2014), that the door is open a dialogue with the central government to reach an agreement and a mechanism for the non-recurrence of cutting the budget and salaries November Territory staff, as expressed optimism forthcoming visit to the oil minister, Adel Abdul-Mahdi to Erbil.

    The Council of Ministers of Iraq's Kurdistan region honest, Wednesday, (November 12, 2014), on the legal Kurdistan company for exploration and production of oil and fund oil and gas revenues in the region, and in what was described Prime Minister Nechirvan Barzani hosted by the deputy Qubad Talabani in the region's parliament session as "positive and fruitful." , pointed out that he has reviewed the Ministry of Natural Resources plan to find a solution to the current financial crisis and the budget and staff salaries by oil revenues.

    It is noteworthy that the former prime minister, Nouri al-Maliki, instructed to cut the budget of the Kurdistan region since the beginning of the current year 2014, including staff salaries, against the backdrop of the crisis between Baghdad and Erbil.

    http://www.almadapress.com/ar/news/39673/%D8%A7%D9%84%D9%86%D9%81%D8%B7_%D8%A7%D9%84%D8%A8% D8%B1%D9%84%D9%85%D8%A7%D9%86%D9%8A%D8%A9_%D8%A7%D 8%AA%D9%81%D8%A7%D9%82_%D8%A8%D8%BA%D8%AF%D8%A7%D8 %AF_%D9%88%D8%A3%D8%B1%D8%A8%D9%8A%D9%84_%D8%B3%D9 %8A%D8%B3%D8%A7%D8%B9%D8%AF_%D9%81%D9%8A_%D8%B3%D8 %AF_%D8%B9%D8%AC%D8%B2_%D8%A7%D9%84%D9%85%D9%88%D8 %A7%D8%B2%D9%86%D8%A9_%D9%88%D9%82%D8%AF_%D9%8A%D8 %B9%D9%8A%D8%AF_%D8%AA%D8%B5%D8%AF%D9%8A%D8%B1_%D9 %86%D9%81%D8%B7_%D9%83%D8%B1%D9%83%D9%88%D9%83_%D8 %B9%D8%A8%D8%B1_%D8%A7%D9%84%D8%A5%D9%82%D9%84%D9% 8A%D9%85

  5. #5

    Re: The Dinar Daily, Friday November 14, 2014

    Liberals: Baghdad and Erbil agreement will establish the principle of non-fear of the region and the government's 2014 budget sent to parliament




    Long-Presse / Baghdad
    The leader of the Liberal bloc Prince Kanani, Friday, to Baghdad and Erbil agreement to solve the problems related to the general budget and oil establishes the principle of "no fear", the existence of the territory within the Iraqi state, as he emphasized that the situation is now appropriate to pass the budget year 2014, called on the government to sent quickly before the parliamentary legislative recess.

    Kinani said in an interview to the (long-Presse), "The initial agreement between the oil minister, Adel Abdul-Mahdi, and President of the Region Government Nechirvan Barzani important, for the management of natural resources, oil or gas, the fact that the federal government is directly responsible to oversee the export of these products through the Company (SOMO ), "noting that" the agreement arranged to pay the obligations of the Baghdad region is a natural entitlement to benefits within the budget. "

    Kanani said that "this step if solved once and for all, will establish the principle of the fear of the existence of any region within the Iraqi state, or even what is subtracted from the oil-producing provinces irregular benefits province," noting that "this step will mean realistically statehood federal federalism on the basis of mutual cooperation between the federal or provincial authorities or governorates not organized province authorities. "

    The leader of the Liberal bloc that "a failure to pass the budget factors are the region's oil exports, while other factors concerns the oil-producing provinces and subjected to the western provinces," likely "to pass the 2014 budget during the month if the House of Representatives did not have the legislative Bajazath a couple of months."

    He continued Kanani "If the government is very smart whereupon send the budget and are urgently in order to prevent the House from taking legislative recess and the adoption of the budget."

    The oil minister, Adel Abdul-Mahdi, announced on Thursday (November 13, 2014), agreed with the President of the Kurdistan Regional Government to the Federal Government to transfer $ 500 million for the region, and among the agreement to ensure that the Government of the Territory put 150 thousand barrels of crude oil a day under the disposal of the federal government, confirmed that the President of the Government of the region will visit Baghdad at the head of a delegation to develop a "comprehensive" and constitutional solutions to resolve outstanding issues.

    The Oil Ministry announced on Friday that the agreement between Baghdad and Erbil does not constitute a "final solution" to the outstanding issues, but is the "beginning" of the broad comprehensive, just and constitutional between the two solutions, and as he emphasized that the agreement if it has been applied and developed will ensure the restoration of tens of billions of dollars lost by Iraq during 2014 to the Treasury, confirmed that the logic of "mutual profit" will double the value of profits "unforeseen and direct" and will increase the benefits of shared benefits flowing in the interest of the whole country.

    Promised the Commission on oil and energy parliamentary, on Friday, the federal government and the government of the territory on the budget on issues related to the general budget and oil exports to "positive" agreement, as shown that this step will help in bridging the "deficit" budget next year, suggested the possibility of exporting Kirkuk oil through Kurdistan .

    The Council of Ministers of Iraq's Kurdistan region honest, Wednesday, (November 12, 2014), on the legal Kurdistan company for exploration and production of oil and fund oil and gas revenues in the region, and in what was described Prime Minister Nechirvan Barzani hosted by the deputy Qubad Talabani in the region's parliament session as "positive and fruitful." , pointed out that he has reviewed the Ministry of Natural Resources plan to find a solution to the current financial crisis and the budget and staff salaries by oil revenues.

    It is noteworthy that the former prime minister, Nouri al-Maliki, instructed to cut the budget of the Kurdistan region since the beginning of the current year 2014, including staff salaries, against the backdrop of the crisis between Baghdad and Erbil.


    http://www.almadapress.com/ar/news/39686/%D8%A7%D9%84%D8%A3%D8%AD%D8%B1%D8%A7%D8%B1-%D8%A7%D8%AA%D9%81%D8%A7%D9%82-%D8%A8%D8%BA%D8%AF%D8%A7%D8%AF-%D9%88%D8%A3%D8%B1%D8%A8%D9%8A%D9%84-%D8%B3%D9%8A%D8%A4%D8%B3%D8%B3-%D9%84%D9%85

  6. #6

    Re: The Dinar Daily, Friday November 14, 2014

    Abdul-Mahdi: Baghdad and Erbil agreement will ensure recovery of the money that we lost to the Treasury and the logic of mutual profit will double profits



    Long-Presse / Baghdad

    Said Oil Minister Adel Abdul-Mahdi, on Friday, that the agreement between Baghdad and Erbil does not constitute a "final solution" to the outstanding issues, but is the "beginning" of the broad comprehensive, just and constitutional between the two solutions, and as he emphasized that the agreement if it has been applied and developed will ensure the restoration of tens of billions of dollars defeat by Iraq during the 2014 to the Treasury, confirmed that the logic of "mutual profit" will double the value of profits "unforeseen and direct" and will increase the benefits of shared benefits flowing in the interest of the whole country.

    Said Oil Minister Adel Abdul-Mahdi said in a statement about the recent agreement with the Kurdistan Regional Government received (long-Presse) a copy of it, "After extensive consultations, and in implementation of paragraph 17 of the government curriculum, which requires resolving the outstanding differences between the federal government and the Kurdistan Regional Government and necessitated by the mutual obligations , it was agreed with the Government of the Territory to start by first steps to rebuild confidence and resolve differences in a comprehensive, just and constitutional. "

    Abdul-Mahdi said that "the crisis constituted a threat to the economic, security and political and national unity of interests, and this has been agreed by the federal government transferred $ 500 million to the Government of the Territory with the Government of the Territory put 150 thousand barrels of crude oil per day at the disposal of the Federal Government."

    Abdul-Mahdi said that "the federal government and the Government of the Territory had been reached in 2014 and the years before that, in many times, the agreements did not find their way to the application, or applied for a short time and then stopped."

    The Minister of Oil, "Perhaps another attempts what was agreed upon at a joint meeting between the two sides in the Minutes (21 April 2014) requires" direct pumping oil produced from the region by 50 thousand barrels through the Iraqi-Turkish line and (50) A. barrel through the production system in the Zab region. "

    And between Abdul-Mahdi said that "the correspondence continued between the parties in this regard, and almost up to the result, but high uncertainty, and the accumulation of requirements and accounts unilateralism, led to the stoppage permanently in the (8 July 2014), according to the official books," he said, adding that "the difference in the 2014 led to the Iraqi treasury loss of oil production and exports from the region and to the loss of territory to collect the dues from the general budget in addition to the loss of production from Kirkuk, starting in March 2014 ".

    However, Abdul-Mahdi, saying, "It is here necessary to restore an atmosphere of trust and mutual cooperation building came, which resulted in the final agreement," adding, "The 500 million dollars, which will be transferred to the Government of the Territory, and 150 thousand barrels per day, which will be handed over the federal government does not constitute a final solution, not to the issue of mutual benefits, not to the issue of exports and production, but also opens the way for the start of the development of a comprehensive, just and constitutional solutions to all outstanding matters. "

    And Abdel-Mahdi said that "the development of respect for the agreement and development, especially during the visit of Prime Minister of the Territory Government Nechirvan Barzani to Baghdad in the coming days, will ensure re-exports nearly a million barrels of oil per day from Kurdistan and the rights of Kirkuk, north of any of tens of billions of dollars that we lost during the year 2014 (more than US $ 30 billion). "

    Abdul-Mahdi, and pointed out that "these funds we need it the most, especially with the drop in oil prices and the prospect of continuing to decline through 2015," pointing out that "no matter what the excuses or arguments here or there, but we should appreciate our responsibilities well."

    Iraq's oil minister said that "the logic of mutual profit adds to unforeseen and direct profits profits unforeseen and indirectly make a million barrels of additional oil per day is not just only the number, but system numbers will double the benefits of shared benefits indirect and invisible to all, which will be channeled to all in the interest of the country and the people Iraq as a whole. "

    The oil minister, Adel Abdul-Mahdi, announced on Thursday (November 13, 2014), agreed with the President of the Kurdistan Regional Government to the Federal Government to transfer $ 500 million for the region, and among the agreement to ensure that the Government of the Territory put 150 thousand barrels of crude oil a day under the disposal of the federal government, confirmed that the President of the Government of the region will visit Baghdad at the head of a delegation to develop a "comprehensive" and constitutional solutions to resolve outstanding issues.

    The head of the Kurdistan Regional Government Nechirvan Barzani, Wednesday, (November 12, 2014), that the door is open a dialogue with the central government to reach an agreement and a mechanism for the non-recurrence of cutting the budget and salaries November Territory staff, as expressed optimism forthcoming visit to the oil minister, Adel Abdul-Mahdi to Erbil.

    The Council of Ministers of Iraq's Kurdistan region honest, Wednesday, (November 12, 2014), on the legal Kurdistan company for exploration and production of oil and fund oil and gas revenues in the region, and in what was described Prime Minister Nechirvan Barzani hosted by the deputy Qubad Talabani in the region's parliament session as "positive and fruitful." , pointed out that he has reviewed the Ministry of Natural Resources plan to find a solution to the current financial crisis and the budget and staff salaries by oil revenues.

    It is noteworthy that the former prime minister, Nouri al-Maliki, instructed to cut the budget of the Kurdistan region since the beginning of the current year 2014, including staff salaries, against the backdrop of the crisis between Baghdad and Erbil.



    http://www.almadapress.com/ar/news/39679/%D8%B9%D8%A8%D8%AF-%D8%A7%D9%84%D9%85%D9%87%D8%AF%D9%8A--%D8%A7%D8%AA%D9%81%D8%A7%D9%82-%D8%A8%D8%BA%D8%AF%D8%A7%D8%AF-%D9%88%D8%A3%D8%B1%D8%A8%D9%8A%D9%84-%D8%B3%D9%8A%D8%B6%D9%85

  7. #7

    Re: The Dinar Daily, Friday November 14, 2014

    Washington welcomes the agreement reached between Baghdad and Erbil



    Khandan - welcomed Washington, the agreement reached between the governments in Baghdad and Erbil on disputes relating to them about the budget and oil exports. The spokeswoman said US State Department spokesman Jennifer Sacchi, in the summary of the press ministry: "We welcome the announcement to reach an agreement between the Federal Government of Iraq, and the Kurdistan Regional Government , to take the initial steps towards the achievement of a just and comprehensive solution to manage sources of fuel in Iraq. " and urged the parties to "the implementation of these steps at the earliest possible opportunity to build confidence, and to continue to discuss the remaining issues in the coming days, to reach a just and constitutional solution, allowing all Iraqis to benefit more fair and equal of the hydrocarbon sector in Iraq. " She described the move Palmhdjah Sake, and considered it "one of the required to reach a comprehensive agreement steps", noting that her country would continue "as a neutral intermediary between the two sides and coordinated action". (AA)

    http://www.xendan.org/arabic/drejaA.aspx?=hewal&jmara=6295&Jor=1

  8. #8

    Re: The Dinar Daily, Friday November 14, 2014

    Abadi intends to make amendments in the Ministry of the Interior




    Khandan
    - intends to Iraqi Prime Minister Haider al-Abadi, make adjustments in the leadership of the Ministry of Interior, along the lines of the changes made ​​by two days ago in the Defense Ministry. He said the Commission on Security and Defense parliamentary member Iskandar and berries in remarks to the agency "Anatolia", "The Abadi in his capacity as Commander in Chief of the forces Armed will be soon, a series of changes in the leadership of the Ministry of Interior, and would exclude officers and commanders for negligence in the performance of security functions, and the appointment of new leaders for the management of internal security institutions. " It was Abadi, exempts the first Wednesday 0.26 commander militarily from office, and referred 10 others to retire, and the appointment of 18 leader in new positions in the Department of Defense. In this regard, he explained MP Alexander and berries, that "the Ministry of Interior and the joints are no less important for the Ministry of Defense."


    http://www.xendan.org/arabic/drejaa.aspx?=hewal&jmara=6303&Jor=2

  9. #9

    Re: The Dinar Daily, Friday November 14, 2014

    Oil Minister calls for respect for the oil agreement between Baghdad and the region

    BAGHDAD
    / obelisk: called Oil Minister Adel Abdul-Mahdi, on Friday, to respect the recent agreement with the Kurdistan Regional Government of Iraq, stressing that it will ensure the re more than $ 30 billion to the state treasury.

    Said Abdul-Mahdi said in a statement, "obelisk" I got a copy of it, that "after extensive consultations within the outskirts of the federal government and between the parliamentary blocs and with the Kurdistan Regional Government, and under the guidance of the Prime Minister Haider al-Abadi, and the implementation of paragraph 17 of the government curriculum, which requires resolving the outstanding differences between The federal government and the Kurdistan Regional Government in my general budget and export of oil, and necessitated by the mutual commitments, agreement was reached with the provincial government to start by first steps to rebuild confidence and resolve differences in a comprehensive, just and constitutional after the crisis escalated, and formed a rift threatens not only economic, security and political interests , but also threatens national unity. "

    He said the "agreement, whereby the federal government transferred $ 500 million to the provincial government with the provincial government put 150 000 barrels of crude oil per day at the disposal of the Federal Government."

    He explained that "the federal governments and the Kurdistan region, had already reached in 2014 and the years before that, in many times, the agreements did not find their way to the application, or applied for a short period and then stopped, and perhaps the last attempts what was agreed upon at a joint meeting between the two parties Minutes, 21 Last April, serving to proceed to pump the oil produced from the region by 50 000 barrels per day through the line (the Iraqi-Turkish) and 50 000 barrels per day through the production system in the Zab region, "noting that" the correspondence continued between the parties in this regard, and almost reach the as a result, but high uncertainty, and the accumulation of requirements and monounsaturated accounts, led to a final stop, on July 8, according to the official books. "

    He said Abdul-Mahdi, "The difference has led in 2014 to the Iraqi treasury loss for the production of oil from the region and exports and to the loss of the province to receive their dues from the general budget, in addition to the loss of production of Kirkuk, starting from March 2014, after being destroyed by terrorism, oil pipeline carrier, and seized some of the fields and facilities "but he also said that" From here came the necessity to restore the atmosphere of trust and mutual cooperation building, which resulted in the recent agreement, stressing that the 500 million dollars that will be transferred to the provincial government, and 150 thousand barrels per day, which will be handed over the federal government does not constitute a final solution, not the cause of mutual benefits , nor to the issue of exports and production, but also opened the way for the start of the development of a comprehensive, just and constitutional solutions to all outstanding issues. "

    He continued that "the agreement above that have been respected and sponsorship honestly and faithfully, and development, especially during the visit of Barzani Prime Minister of the Kurdistan Regional Government to Baghdad in the next few days will ensure that we re to the Treasury exports nearly a million barrels of oil per day, from Kurdistan and fields of Kirkuk and north, ie tens of billions of dollars that we lost during 2014 (more than US $ 30 billion), which is money we most need, especially with the drop in oil prices and the prospect of continuing to decline through 2015, "explaining that" whatever excuses or arguments here or there, but we should appreciate our responsibilities Well, we stand in front of two policies either mutual loss, or profit Almottagabl, first of all destructive politics and lead to losses and complaints and doubts and figures reject the other party. "

    He emphasized that "past experience proof shining on what we say, while the logic of mutual profit adds to profits unforeseen and direct profits unforeseen and indirectly make a million additional barrels of oil a day is not just only the number, but system figures will double the benefits and common benefits of indirect and invisible to all, and which all will be channeled in the interest of the country and the people of Iraq as a whole. "

    http://almasalah.com/ar/news/41376/%D9%88%D8%B2%D9%8A%D8%B1-%D8%A7%D9%84%D9%86%D9%81%D8%B7-%D9%8A%D8%AF%D8%B9%D9%88-%D8%A7%D9%84%D9%89-%D8%A7%D8%AD%D8%AA%D8%B1%D8%A7%D9%85-%D8%A7%D9%84%D8%A7%D8%AA%D9%81%D8%A7%D9%82-

  10. #10

    Re: The Dinar Daily, Friday November 14, 2014


    A member of the parliamentary Economy: State planning on budget unfortunate



    Baghdad - Described member of the parliamentary Economic Committee, the State Planning on the financial budget as unfortunate.

    Obeidi beautiful and she told all of Iraq [where] the day that "the failure to approve the 2014 budget is the result of quotas between the political blocs."

    Showed al-Obeidi said "there are other laws of the members of parliament to seek approval and which affect the lives of citizens, including oil and gas law and the law of the parties and the balance career and also call for compulsory military service law."

    The MP for the Bloc Hashim al-Moussawi, ruled out the arrival of the draft federal budget bill to parliament for approval, expected to be next year's budget with a deficit estimated at $ 70 billion.

    He said al-Moussawi told [where] that "until now has not received Parliament actually revised plan for the draft budget of the federal government, whether in 2014 or 2015 budget ".anthy 2

    http://www.kululiraq.com/?p=106772

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