The Dinar Daily, Wednesday January 7, 2015
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  1. #1

    The Dinar Daily, Wednesday January 7, 2015





    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 84 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
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  2. #2

    Re: The Dinar Daily, Wednesday January 7, 2015

    Currency Auctions

    Announcement No. (2860)

    The latest daily currency auction was held in the Central Bank of Iraq on the 07-01-2015 results were as follows:


    DETAILS NOTES
    Number of banks 22
    Auction price selling dinar / US$ 1166
    Auction price buying dinar / US$ -----
    Amount sold at auction price (US$) 250,297,000
    Amount purchased at Auction price (US$) -----
    Total offers for buying (US$) 250,297,000
    Total offers for selling (US$) -----
    Market Rate 1222 !
    Last edited by sczin11; 01-07-2015 at 10:19 AM.

  3. #3

    Re: The Dinar Daily, Wednesday January 7, 2015

    sczin11- I guess Maliki still has control .... Will Dr. Shabibi live in Peace and Help Iraq regain their COMPLETE SOVEREIGNTY? Do we have to wait for the world to be completely free of Maliki? Will this man ever be out of the NEWS?



    Maliki exercise pressure on the judiciary to challenge innocently Shabibi


    • Agency eighth day
    • January 7, 2015, 10:53




    BAGHDAD - ((eighth day))
    Said a source familiar with the Iraqi Central Bank, said the bank's governor on the Keywords received an order from the Vice President Nuri al-Maliki filed an appeal by virtue of a patent that was issued against former Bank Governor Sinan al-Shabibi.
    The source said that al-Maliki met with the relationship late last week and asked him that the central bank provides patent Shabibi appeal the decision because his innocence means open accusation of the owners and the involvement of the former government malicious charges that face him.
    The source confirmed that al-Maliki promised Keywords that he will follow up the matter with some judges who are still loyal to him for the purpose of getting them on a resolution condemning Shabibi.
    In the same context, a judicial source in the resumption of the Rusafa court said, the central bank, made a formal appeal, the decision of the patent for the Governor of the Central Bank of Iraq the previous Shabibi and demanded the cancellation of this decision to the lack of legal grounds, including the introduction of the testimony of witnesses, which confirmed "Mqsria" Shabibi in Released special instructions about banking policy has caused a big waste of public money, according to the source.
    The judiciary spokesman Judge Abdul Sattar Bayrakdar, has announced that the "second body competent integrity issues in criminal Rusafa Court issued a decision to acquit former central bank governor Sinan al-Shabibi of corruption charges against him issues related to the Central Bank during the period of his tenure as governor," attributing decision of acquittal to "insufficient evidence in the charges against the Hbibi."

    http://translate.googleusercontent.c...A04CZmqZP8bapw




    Maliki put pressure on the judiciary to challenge innocently Shabibi


    THIS IS ANOTHER RELEASE OF THIS ARTICLE THROUGH IKHNEWS (SCZIN'S IS FROM 8TH DAY)

    07-01-2015 07:13 PM

    Said a source familiar with the Central Bank of Iraq, said the governor and the agency, on the Keywords, received an order from the vice president, Nouri al-Maliki, filed an appeal by virtue of a patent that was issued against the former bank governor, Sinan al-Shabibi.

    The source said, in a press statement seen by (newsletter): Maliki met with the relationship at the end of last week and asked him to submit the central bank's decision to appeal the patent Shabibi, because his innocence means open accusation of the owners and the government of fabricating charges of involvement malicious him.

    He also stressed the source, who kept mentioning his name, said al-Maliki Keywords promised that he will follow up the matter with some judges who are still loyal to him for the purpose of getting them on a resolution condemning Shabibi.

    In the same vein, a judicial source in the Court of Appeals Rusafa: The central bank said, made a formal appeal, the decision of the patent for Shabibi, demanding the cancellation of this decision to the lack of legal grounds, including the introduction of the testimony of witnesses, which confirmed 'Mqsria' Shabibi in issuing special on banking policy instructions caused a big waste of public money, according to the source.

    http://www.ikhnews.com/index.php?page=article&id=133226

    OOTW- THIS ACTUALLY IS WONDERFUL NEWS IF TRUE (AND I'D BE SURPRISED IF IT IS NOT) - WHEN WE SEE THESE TYPES OF ISSUES BEING EXPOSED - THIS, IMHO, WILL HELP LEAD TO THE REMOVAL OF ALI ALAK (MOHSEN - HEAD OF THE CBI) - MALIKI THUG.
    Last edited by OOTW; 01-07-2015 at 07:22 PM.

  4. #4

    Re: The Dinar Daily, Wednesday January 7, 2015

    sczin11- A PERSONAL OPINION WITH A VERY PERSONAL TOUCH ADDED... I HOPE YOU FORGIVE ME !

    ____

    "....this is a speculative investment.....nothing is guaranteed....."

    HOW MANY TIMES HAVE YOU HEARD THIS SINCE YOU HAVE BEEN INVESTED? IT SEEMS, ONLY AT TIMES WHEN THE RAISING OF THE VALUE OF THE DINAR DIDN'T OCCUR AS ANTICIPATED, SOMEONE MANAGES TO BRING THIS UP....



    I HAVE ALWAYS, AND I DON'T USE THAT WORD OFTEN, ALWAYS THAT IS, QUESTIONED HOW ALMOST EVERYONE WHO IS INVESTED IN THE IRAQI DINAR, HAS BEEN CONVINCED IT IS A SPECULATIVE INVESTMENT....

    FIRST LETS LOOK AT THE DEFINITION...

    spec·u·la·tive
    ˈspekyəˌlādiv,ˈspekyələdiv/
    adjective
    1.
    engaged in, expressing, or based on conjecture rather than knowledge.
    "discussion of the question is largely speculative"
    synonyms: conjectural, suppositional, theoretical, hypothetical, putative, academic, notional, abstract; More
    2.
    (of an investment) involving a high risk of loss.
    synonyms: risky, hazardous, unsafe, uncertain, unpredictable; More

    2.
    (of an investment) involving a high risk of loss.
    synonyms: risky, hazardous, unsafe, uncertain, unpredictable;

    2.
    (of an investment) involving a high risk of loss.
    synonyms: risky, hazardous, unsafe, uncertain, unpredictable; More

    OKAY I UNDERSTAND...INVOLVES A HIGH RISK OF LOSS...................


    FOLKS.... ISN'T THE IRAQI DINAR, THAT YOU AND I OWN, THE CURRENCY OF A COUNTRY???????????????????


    DO WE KNOW, FOR A FACT, IN NO UNCERTAIN TERMS, THAT IRAQ IS ....ONE OF THE WEALTHIEST PIECES OF LAND, IN THE WORLD....????
    .

    IS THERE ANY RISK IN THE CURRENCY OF ONE OF THE WEALTHIEST COUNTRIES IN THE WORLD?

    IF YOU WERE TALKING ABOUT, SAY THE USD...YES THERE IS A RISK OF LOSS....

    BUT WITH THE IRAQI DINAR, YOU AND I OWN....


    HOW MUCH LOWER CAN IT GO? LOWER THAN THE 1166/1 USD OR LESS THAN 8 TENTHS OF A PENNY?

    WHAT IS THE RISK OF LOSS HERE? HOW MUCH LOWER CAN IT GO WHERE IT CAN AFFECT YOUR POCKET AND BOTTOM LINE?


    WHERE IS THE RISK, I SAY...................... HOW IS THIS SPECULATIVE?

    DO WE KNOW WHEN WE WILL SEE THE REWARDS? NO, WE DON'T... BUT I CAN ASSURE YOU SOMEONE IN YOUR FAMILY EVENTUALLY WILL....

    I MAY NOT LIVE LONG ENOUGH TO BENEFIT FROM THE TRILLION DOLLAR LAWSUIT AGAINST TERRORISM, AKA THE 9-11 LAW SUIT, BUT SOMEONE IN MY FAMILY SOMEWHERE WILL REAP THE BENEFITS...AFTER THE LOSS I SUFFERED....


    HOW ABOUT NAZI GERMANY...THE MONEY FROM SWITZERLAND TOOK ALMOST 70 YEARS TO COME BACK TO FAMILIES...

    BUT, EVENTUALLY IT DID...

    I AM NOT LOOKING FOR SYMPATHY, PLEASE DON'T TAKE IT THAT WAY..IT ACTUALLY IS THE REASON I AM INVOLVED IN THIS INVESTMENT,,, IT OPENED MY EYES TO A PART OF THE WORLD I ALWAYS IGNORED... AND NOW IT WILL BE MY PLEASURE TO REAP THE REWARDS, AS MY BROTHER GAVE HIS LIFE FOR THE SOVEREIGNTY OF IRAQ....JUST HOW I LOOK AT IT...BUT YOU FOLKS HAVE TO REALIZE, THIS IS NOT A GAME OF TIDDLY WINKS...THESE ARE REAL PEOPLE WHO HAVE BEEN VICTIMIZED, FOR A LACK OF A DEMOCRATIC SOCIETY..THEY DESERVE TO FINALLY BE GIVEN THE LUXURY OF THE FLAG...THE AMERICAN FLAG THAT IS...ONLY WITH IRAQI COLORS..HOPE YOU GET MY DRIFT..

    AS YOU CAN SEE, I AM VERY PASSIONATE ABOUT THIS INVESTMENT, MORE IMPORTANT, ABOUT THE PEOPLE OF THE WORLD...THE CITIZENS OF IRAQ, AND WHAT OUR GREAT USA, OUR TROOPS AND VOLUNTEERS HAVE DONE, AND CONTINUE TO DO FOR ALL OF US, AND FOR ALL THE FREEDOMS DESERVED BY ALL OF THE WORLD... AFTER 9-11, I WANTED TO DO MY PART, SO MY DAUGHTER AND I JOINED OUR LOCAL VOLUNTEER FIRE DEPARTMENT. THAT IS WHAT THIS IS ALL ABOUT!

    IS THIS A SPECULATIVE INVESTMENT? IMHO, IF YOU GO BACK UP TO THE DEFINITION, AND LOOK AT THE FIRST ADJECTIVE DEFINITION;

    adjective
    1.
    engaged in, expressing, or based on conjecture rather than knowledge.
    "discussion of the question is largely speculative"
    synonyms: conjectural, suppositional, theoretical, hypothetical, putative, academic, notional, abstract;

    I CAN SEE WHERE SOME CONFUSION MAY ARISE... ESPECIALLY IN DINAR LAND... HYPOTHETICAL INTEL, THEORETICAL INFORMATION BEING PROVIDED, ETC....

    SPECULATIVE AS AN INVESTMENT WITH RISK OF LOSS... COME ON FRIENDS, EXPLAIN THAT TO ME....

    PEACE AND PROSPERITY TO YOU ALL IN 2015!


  5. #5

    Re: The Dinar Daily, Wednesday January 7, 2015

    Cabinet approves exchange allocations for a number of important primers in all provinces



    BAGHDAD - Iraq Press - January 7: The General Secretariat of the Council of Ministers, on Wednesday, "said a committee study and the allocation of land for investment projects and development problem under customs clearance No. 113 for the year 2011 and agreed to allocate 1000 m 2 to set up a plant for the production of ice in the province of Muthanna, and the allocation of 1500 m 2 to set up a plant to produce Almacetk and Filancot paint Qiri in the province of Basra, and the allocation of 400 m2 to create a chilled store in the city of Karbala, and the allocation of 100 acres for the establishment of a residential complex horizontal to the staff of the General Company for Post & Telecommunications in the province of Najaf. "

    She continued, "The committee agreed to allocate 10 acres to set up laboratories for asphalt in Diwaniyah province, and the allocation of 800 m2 to create a refining plant oils and the allocation of 4 acres to set up a flour mill in the province of Diyala."
    Admiral ended

    http://translate.googleusercontent.com/translate_c?depth=1&hl=en&rurl=translate.google.com&sandbox=0&sl=ar&tl=en&u=http://www.faceiraq.com/inews.php%3Fid%3D3397328&usg=ALkJrhhEf49IgI5gYFPUKfPbqsCyIA8o8w



  6. #6

    Re: The Dinar Daily, Wednesday January 7, 2015

    Abadi Office: Council of Ministers meeting held today compensatory



    Announced the Office of the Prime Minister Haider al-Abadi, Wednesday, that the Council of Ministers will be held today instead of its usual yesterday, which coincided with a holiday on the occasion of the Iraqi army holiday.

    A spokesman for the office told Sabri Saad / information /, "The Council of Ministers for yesterday because of its Aljeicn Festival holiday is supposed to be held, today, rather than an emergency session yesterday."

    It is said that the Council of Ministers will hold regular meetings every Tuesday of the week.

    Held its meeting yesterday, has been postponed due to commemorate the Iraqi army Festival, and the presence of Prime Minister

    http://translate.googleusercontent.com/translate_c?depth=1&hl=en&rurl=translate.google.com&sandbox=0&sl=ar&tl=en&u=http://www.faceiraq.com/inews.php%3Fid%3D3397350&usg=ALkJrhgJCpFzXzi1Uoe-aNOi_xmVQa_nqw

  7. #7

    Re: The Dinar Daily, Wednesday January 7, 2015

    Parliamentary economy calls for activating the investment law for the advancement of the Iraqi economy



    {Baghdad: Euphrates News} student member of the Committee on Economy and Investment parliamentary Ali Sobhi al-Maliki to activate the investment law as it has a major positive impact on the Iraqi economy.

    Maliki said in a statement to the Agency {Euphrates News} today, "We are facing two options for the Iraqi economy that either are on is us, this is a big problem, and either we are serious about finding alternatives such as the law of investment on the one hand and the method of privatization on the other hand," noting that "these two pillars of the calendar a lot of economic actions in Iraq on levels of investment and industrial. "

    He said, "And the way the privatization of companies they are very great idea to get rid of employment, we have {114} constituted in the Ministry of Industry only works this way," pointing out that "we are serious about the work, and in a way very fast activating the investment law today to see the light sees the light of this law, many of Iraq's economic problems will be solved. "

    He was a member of the Presidency of the Council of Representatives, Sheikh Hamoudi earlier announced about the intention of the House of Representatives to lift restrictions in the investment law and the elimination of financial and administrative corruption, which would contribute in providing the appropriate atmosphere for European companies and encourage them to come to Iraq and Msahtmanm actors in Aamarh.anthy process m

    http://translate.googleusercontent.com/translate_c?depth=1&hl=en&rurl=translate.google.com&sandbox=0&sl=ar&tl=en&u=http://www.faceiraq.com/inews.php%3Fid%3D3397352&usg=ALkJrhiBXkfLwo_haRt_tirAuBFqahGMOA

  8. #8

    Re: The Dinar Daily, Wednesday January 7, 2015

    sczin11- First report in, appears BUDGET HAS BEEN READ.....

    The start of the second reading of the budget law in the presence of 264 deputies session


    House of Representatives

    Tomorrow Press / Baghdad: The Council of Representatives, on Wednesday, the second reading of the law of the budget session in the presence of 264 deputies and headed by Salim al.
    The reporter said, "Tomorrow's Press," in parliament that the Finance Committee ended its meeting before the start of the meeting attended by 264 deputies to read the second reading of the budget law.

    He added that the Committee's observations and suggestions offered in a full report in the House of Representatives hearing, which will vote to accept or reject.
    The Council of Ministers approved in its regular, in 23 of the current December, the budget bill and sent it to Parliament for formal approval, pointing out that the budget approved B123 trillion dinars and a price of $ 60 per barrel of oil and a large deficit.

    http://translate.googleusercontent.com/translate_c?depth=1&hl=en&rurl=translate.google.com&sandbox=0&sl=ar&tl=en&u=http://www.faceiraq.com/inews.php%3Fid%3D3397395&usg=ALkJrhgjAmPSCzutq5jOD0sHUsn8UQf15g

  9. #9

    Re: The Dinar Daily, Wednesday January 7, 2015


    sczin11- FOLKS THIS IS BIGGER THAN THE INITIAL REPORT 2 DAYS AGO.. APPEARS CONFIRMATION, ARTICLE 140 BEING FUNDED BY THE 2015 BUDGET...AND ALLOCATIONS FOR PESHMERGA, THE KRG MILITARY TOO! HUGE !!!!

    ___

    Zebari: 2015 budget includes funds for the implementation of Article 140


    Arbil -arac Press January -7: detection and Finance Minister Hoshyar Zebari, the Iraqi government has allocated, funds within the budget of 2015 to the implementation of Article 140 of the Constitution of the disputed areas.


    Zebari said in an interview with the magazine Kurdish Coughlan, said that "the Commission on Article 140 of the Council of Ministers called for the allocation of a sum of money to operate and facilitate the process of implementing the article, noting that" the amount deposited in the account Article 140 of the General Secretariat of the Council of Ministers. "


    And on the Peshmerga budget Zebari said: "For the first time transparency and clarity of research and discussion on this issue and agreed that the government is actually providing support to the Peshmerga will be allocated within the Iraqi ground forces budget Peshmerga forces" .anthy (1)

    http://translate.googleusercontent.c...3wpRgSvuF97N0Q



  10. #10

    Re: The Dinar Daily, Wednesday January 7, 2015

    sczin11- WOW LOOKS LIKE THEY ARE SETTLING WITH BASRA, AND GETTING THEM THE FULL AMOUNT OF $5 PER BARREL....

    Efforts to Congress include Basra to $ 5 in 2015 budget

    Wednesday January 7, 2015 - 13:20Write a comment


    Hassan Khalati
    MP announced Basra Hassan Khalati province, on the movements conducted by deputies Basra to include amounts of petrodollars by $ 5 within the 2015 budget, as he emphasized that Basra will get the two trillion and a half trillion dinars for 2015.
    He Khalati in a statement singled out by the Radio tow, that "Congress Basra province will pay During the discussion of the 2015 budget towards obtaining the oil-producing provinces rights, foremost of Basra, and in particular to give those provinces amounts of petrodollars by $ 5 fully and not, as intended in the draft budget, which includes two dollars and paid in the form of two installments within 2015 and spin the remaining funds for next year. "
    Stressing that "the House of Representatives and taking into account the financial hardship faced by the country would agree to pay the $ 5 in the form of two batches within the same year."
    He pointed out that Basra if the referee has two dollars budget in addition to the regional development funds will get the Trliunin nearly one and a half trillion dinars within the budget of 2015, while you'll get about 5 trillion dinars in case the referee awarded her $ 5.
    And between Khalati that "these amounts will be allocated to complete the pre-especially the big ones Basra province allocated projects, pointing out that the House of Representatives of the province of Basra agreed and after the meetings that they conducted to push obtaining sums of petrodollars fully without the lack of the fact that the powers of the House of Representatives.

    http://translate.googleusercontent.c...sV16HsnEe-jSjQ


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