" The Dinar Daily ", Friday, 20 February 2015
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  1. #1

    " The Dinar Daily ", Friday, 20 February 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


    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
    – highlights page 94 of the quarterly SIGR report to THE US CONGRESS in April of 2012…
    __________________________________________________ _____________


    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″..

    __________________________________________________ ______________


    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



    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.



    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.


    Crush Expected When Kuwaiti Banks Reopen Today

    March 24, 1991|From Reuters

    KUWAIT CITY, Kuwait — Thousands of Kuwaitis are expected to jam the country's banks today when they open for the first time since the end of the Iraqi occupation.

    Customers will be allowed to withdraw funds and to swap pre-invasion money for a new currency issued to make more than $1 billion in pre-invasion dinars stolen by the Iraqis worthless.

    "We expect a rush of people," said Issam Asousi, an executive with the Bank of Kuwait. He said it could be a chaotic first week because customers have a lot of questions about their accounts.

    Kuwaiti banks continued operating during the seven-month Iraqi occupation under managers brought in from Iraq, but they have been closed since the U.S.-led alliance ousted the Iraqi army from Kuwait a month ago.

    When the banks reopen today, customers will be able to withdraw up to 4,000 Kuwaiti dinars, equivalent to about $14,000 at pre-invasion exchange rates from their accounts, and to exchange a like amount for foreign currency.

    Balances of customers' accounts will go back to what they were on Aug. 1, a day before the invasion.

    Clients will not be able to exchange Iraqi currency issued during the occupation, when Baghdad pegged the rates of the strong Kuwaiti dinar to the far less valuable Iraqi dinar.

    The new Kuwaiti money will be exchanged for old at a one-to-one rate.


    BGG ~ Thanks to wmawhite for some facts on the subject.

    Hi BGG,

    Just thought I would drop you an email. I listened to the call, and was interested in what was said about Kuwait, if I may - I will add my 2 cents worth.

    You were spot on with what you said, I have a close friend who's father made a killing on the KWD. He bought from people who had fled the country and he paid pennies on the dollar (we are in Australia). He took the chance that Iraq would be kicked back out and he was right.

    When the money was reinstated, he exchanged it for AUD at a rate in the mid 3s. The interesting thing about it is, Iraq invaded in November 1990 (I think), they were kicked back out at the end of Feb 1991, the banks reopened with a brand new KWD in late March, that's not a bad time frame to get a currency designed, printed and made ready to use, also the time that the old KWD was valid was initially only for 2 months, then extended to 6, so it was valid until Sept 1991, interesting I think.

    Also the other thing that seems to be a "fact" in Dinar land is Bill Clinton used the Kuwait RV to pay off the debt. However, Clinton was not President in 91, he did not take office until 93, even I know that and I am an Aussie.

    Anyway thanks for the site and enjoy listening to your calls.

    Kind Regards,

  2. #2

    Re: " The Dinar Daily ", Friday, 20 February 2015


    Holidays in (2015) in addition to Friday and Saturday

    Jan. 1 New Year's Day

    *4 Prophet's Birthday

    6 Army Day/1921
    Mar. 21 Spring Day
    May 1 Labour Day
    July 14 14th Revolution /1958

    *19 Id Al-Fitr (3Days)
    Sep. *25 Id Al-Adha (4Days)
    Oct. *15 Islamic New Year
    *24 Ashoura Day

    Dates noted with asterisk (*) are approximate


  3. #3

    Re: " The Dinar Daily ", Friday, 20 February 2015

    Reserved for national reconciliation news

  4. #4

    Re: " The Dinar Daily ", Friday, 20 February 2015

    Reserved for national reconciliation news ( CONT'D )

    Chairman of the Parliamentary Committee for National Reconciliation, said Hisham al-Suhail, said Friday that his committee is waiting Representative of the Secretary General of the United Nations' new to Iraq, and then start talks to hold the reconciliation conference. And between Suhail told all of Iraq [where] that "holding a national reconciliation conference is traded through the media only, and do not have details about the conference, adding that" this conference is supposed to UN-sponsored Representative of the Secretary General Nikolai Miladinov which ended its services to Iraq ". He predicted Suhail delay the national reconciliation conference that there are no create him as he just talks, adding, "We are waiting for Representative of the Secretary General of the United Nations and after the new talks begin to take place." He was in the committee accountability and reconciliation parliamentary member Mohammed Naji announced for [where] Sunday, the determination of the Commission to convene an international conference to find a comprehensive national reconciliation between all parties.

    It is said that he conducted dialogues between the political parties about the initiative put forward by House Speaker Salim al-Jubouri for dialogue with the opposition parties to include destinations outside Iraq. The head of the House of Representatives Saleem al-Jubouri said that preparations are underway to hold a conference sponsored by the state of the dialogue with the opposition and includes measures of accountability and justice law [de-Baathification previously. For his part, President of the Republic Fuad Masum in the last month, "The preparation of the expanded national reconciliation conference will take months," pointing out that "everyone will be invited to the conference, including members of armed factions that have not stained their hands with the blood of Iraqis." The Presidency of the Council of Representatives decided on the tenth of February, to postpone the first reading of legal accountability for the project, justice and the prohibition of the Baath Party, the National Guard, in the House of Representatives forwarded to the State Council for the purpose of a preliminary study and refer them after the completion of them to parliament. It is said that the Council of Ministers voted during its meeting held on the third of February, the approval of the draft law of accountability, justice and the prohibition of the Baath Party and sent to the State Council for its scrutiny and brought back to the General Secretariat of the Council of Ministers in order to submit it directly to the Council of Alnwab.anthy



    Allawi: The National reconciliation requires to freeze or cancel some of the laws that hurt people and build trust among its components

    19/02/2015 21:35

    BAGHDAD / NINA / Vice President Iyad Allawi said on Thursday that the national reconciliation requires several most important action to freeze or cancel some of the laws that have hurt the Iraqi people, and to build confidence among the Iraqi people, adding that the tribes are the basis of Iraq's stability and the national reconciliation can not be achieved by conferences and banquets .

    Allawi added, during a meeting with a group of elders and notables of Dhi Qar province, / according to a statement by his office /, that the national reconciliation can not be achieved by conferences, banquets and promises, but by effective action to the abolition of the quota system of political sectarianism and marginalization and exclusion, and put the right man in the right place toward citizenship, as all people are equal in rights and duties.

    Last edited by chattels; 02-21-2015 at 06:20 AM.

  5. #5

    Re: " The Dinar Daily ", Friday, 20 February 2015


    Kurds Are Close to Retaking Mosul from ISIS
    President Obama and Congress hammer out a war authorization against ISIS ( * HEREINBELOW ) , the Iraqi Kurdish forces peshmerga are now surrounding the northern city of Mosul -- 280 miles to the north of Baghdad -- Kurdish officials said on Tuesday.

    Mosul is Iraq’s second largest city and the largest city controlled by ISIS, making it its Iraqi capital. Since the fall of the city in June 2014, ISIS has dominated the jihadi movements globally and attracted tens of thousands of extremists from around the world to join its ranks.

    Yet, ISIS has lost its momentum in Iraq after the US led international air campaign started in August 2014. Even though ISIS has suffered a series of defeats throughout Iraq since last October, it still controls big cities like Mosul, Tikrit and Fallujah.
    Liberating Mosul is crucial in defeating ISIS in Ira.“

    Peshmerga forces have advanced in the last few months to Mosul from the north, east and west. Our operations have cut ISIS maneuvers in these areas. We are now close to the city center and in some areas we are only 6 to 9 miles away from it. We have also controlled the main bridges in the areas of Aski and al-Kesk which are located on the main way between Mosul and Tal Afar”, said Lieutenant General Jamal Mohammed, the chief of staff of the peshmerga forces.

    Related: 9 ISIS Weapons That Will Shock You
    The peshmerga now control the areas of Nineveh plains to the north of Mosul, the towns of al-Koweir and Makhmur to the east of the city and the towns of Aski and al-Kesk to the west of the city. However, to the south of the city, the Iraqi government forces, the Shiite militias and the Sunni tribes are still struggling to control Salahuddin province to complete the siege of Mosul.

    “We have reached the last available position in Aski and al-Kesk. Any further movement will be toward Mosul city center. We are waiting for orders in this regard. ISIS positions in Mosul have become within our artillery and rockets reach. We are constantly targeting them,” said Colonel Kamiran Hurami, a commander in the elite Zirvani forces within the peshmerga.

    The Iraqi government forces and its Shiite and Sunni allies have just finished another campaign to clear the city of Beiji, 130 miles to the north of Baghdad, leaving 500 Sunni tribal fighters to guard the city. The Iraqi forces still need to capture two more important towns in their way to Mosul, al-Sherqat and al-Qayara.

    These developments came two days after the announcement from General John Allen that the US led alliance is close to launching a major ground offensive in Iraq that would include 12 Iraqi brigades, supported and equipped by the United States.

    In the meantime. Mosul has witnessed over the last several days the heaviest air bombing since the start of the campaign in August. “I arrived after dropping the 16th bomb, thinking that the bombardment had stopped already, but as soon as I arrived, I was startled by dropping four more bombs,” said Maouris Milton, a blogger from Mosul.



    ​Strategic areas near Mosul retaken by Kurdish forces

    WASHINGTON DC - Backed by coalition air power, Kurdish forces have taken control over three strategic areas near Mosul and are ready to control more territories, the US military said in a statement.

    “Security Forces from the Kurdish region seized three bridgeheads on the west bank of the Tigris River, north of Mosul in formerly held Daesh (ISIS) areas,” the statement said. “Combined Joint Task Force-Operation Inherent Resolve (CJTF-OIR) delivered precise and effective airstrikes on enemy positions near Mosul, in support of the Iraqi Government’s fight against ISIL,” it added, referring to the Islamic State group that is known as ISIS or ISIL.

    With coalition air support, Kurdish Peshmerga forces have been able to reverse territorial gains by ISIS in Nineveh province since last November. US military officials have hailed the bravery of the Kurdish troops in the fight against ISIS, calling them the most effective and reliable partner on the ground.

    According to the statement, “the Coalition executed four close air support airstrikes to facilitate the maneuver of the Kurdish Security Forces and their successful attack.”

    The Pentagon said that training and providing “operational intelligence” will also continue to further empower the Kurdish forces to conduct military operations against ISIS successfully.

    It also showed confidence in the capability of the Kurdish forces, saying that “Kurdish Peshmerga Forces now hold the gains they have made and are postured to retake additional territory from Daesh (ISIS) in the vicinity of Mosul.”

    Lt. Gen. James Terry, the CJTF-OIR commander, explained that the coordination with the Kurdish forces has proved to be effective in countering and defeating ISIS.

    “This most recent Peshmerga operation is yet another example of how Daesh can be defeated militarily using a combination of well led and capable ground forces enabled by Coalition Aviation and Advise and Assist capabilities,” he said.Kurds Are Close to Retaking Mosul from ISIS



    Iraq and Syria Operations Against ISIL Designated as Operation Inherent Resolve

    TAMPA, Fla., Oct. 15, 2014 - U.S. Central Command officials announced today that Operation INHERENT RESOLVE has been officially designated as the name given to U.S. military operations against ISIL in Iraq and Syria. The operation name applies retroactively to all U.S. military actions conducted against ISIL in Iraq and Syria since airstrikes against ISIL began Aug. 8 in Iraq.

    According to CENTCOM officials, the name INHERENT RESOLVE is intended to reflect the unwavering resolve and deep commitment of the U.S. and partner nations in the region and around the globe to eliminate the terrorist group ISIL and the threat they pose to Iraq, the region and the wider international community. It also symbolizes the willingness and dedication of coalition members to work closely with our friends in the region and apply all available dimensions of national power necessary - diplomatic, informational, military, economic - to degrade and ultimately destroy ISIL


    Obama sends Congress request for military force against ISIS

    WASHINGTONBy Associated Press: President Barack Obama asked Congress on Wednesday to formally authorize military force against Islamic State militants, declaring they are on the defensive and "going to lose." But he vowed not to repeat the large and costly ground wars in Iraq and Afghanistan.

    Obama said a large deployment of U.S. troops won't be necessary to fight the Islamic State, and he argued that the three-page proposal he sent to lawmakers would give him and his successor the needed flexibility to wage a battle likely to take "some time."

    "I'm convinced that the United States should not get dragged back into another prolonged ground war in the Middle East," the president said, flanked by his vice president and secretaries of State and Defense at the White House. "I do not believe America's interests are served by endless war or by remaining on a perpetual war footing."

    The initial reaction to his congressional request was bipartisan skepticism. Republicans expressed unhappiness that Obama chose to exclude any long-term commitment of ground forces, while some Democrats voiced dismay that he had opened the door to deployment at all.

    Under Obama's proposal, the use of military force would be authorized for three years, unbounded by national borders. The fight could be extended to any "closely related successor entity" to the Islamic State organization that has overrun parts of Iraq and Syria, imposed a stern form of Sharia law and killed several hostages it has taken, Americans among them.

    "Make no mistake. This is a difficult mission," Obama said, adding it will take time to dislodge the terrorists, especially from urban areas. "But our coalition is on the offensive. ISIL is on the defensive, and ISIL is going to lose."

    The 2002 congressional authorization that preceded the American-led invasion of Iraq would be repealed under the White House proposal, a step some Republicans were unhappy to see. But a separate authorization that was approved by Congress after the Sept. 11, 2001, terror attacks would remain in force, to the consternation of some Democrats.

    At the heart of the debate, the struggle to define any role for American ground forces is likely to determine the outcome of the administration's request for legislation. White House spokesman John Earnest said the proposal was intentionally ambiguous on that point to give the president flexibility, but the approach also was an attempt to bridge a deep divide in Congress.

    While asking lawmakers to bar long-term, large-scale ground combat operations like those in Afghanistan and Iraq, Obama said he wants the flexibility for ground combat operations "in other more limited circumstances." Those include rescue missions, intelligence collection and the use of special operations forces in possible military action against Islamic State leaders. "It is not the authorization of another ground war," Obama said.

    "This resolution will give our armed forces the continuity we need for the next three years," he said. "It is not a timetable. It is not announcing that the mission is completed at any given period. What it is saying is that Congress should revisit the issue at the beginning of the next president's term.

    Whatever the outcome, Obama's request puts Congress on the path toward a vote that could reverberate unpredictably for years.

    A post-Sept. 11 request from then-President George W. Bush for authorization to use military force against Iraq was intensely controversial, and it played a role in Obama's successful campaign for the White House in 2008.



    Chief Of Staff of Peshmerga: Our Forces Spread In Three Directions Around Mosul
    12/02/2015 17:04

    Mosul / NINA / Chief of Staff of the Peshmerga forces said that his troops deployed around the city of Mosul and tightened its grip on three sides in preparation for the battle of liberating it from the grip of the Daash organization.

    Lt. Gen. Jamal Mohammed said to the reporter of the National Iraqi News Agency / NINA / The Kurdish forces are very close to the city of Mosul after the liberation of all the eastern, northern and western directions leading to it and control the main bridges in Aski and Kazak regions.

    He expressed confidence that Daash organization is unable to progress and suffers from the difficulty of movement in those areas, saying Kurdish forces are waiting for the zero hour to rush toward Mosul and fight the battle of liberation against terrorist groups.


    and other action

    Peshmerga thwart ISIS attack near Bashik

    An early morning ISIS suicide attack on Peshmerga positions near Bashik town left eight militants dead including the bomber.

    A Rudaw reporter on the scene confirmed no Peshmerga soldiers were killed the attack.

    "ISIS militants launched a massive assault near the Peshmerga fronts in the area, but we defeated the attack,"
    said Saad Mamuzini, media officer of the PDK 14th branch.

    Mamuzini said the battle lasted nearly an hour and one Peshmerga was wounded.

    It was reported that other attacks by ISIS militants were also thwarted along the frontlines.


    COMMENT : WITH "MASSIVE " ASSAULT(S) I WOULD EXPECT HIGHER CASUALTIES, BUT ........................ - chattels


    ISIS abandon dead in pre-dawn defeat

    By R█DAW

    ERBIL, Kurdistan Region - ISIS attackers were defeated by Peshmerga fighters early on Thursday in Mekhmour town, southeast of Mosul, with the militants abandoning 11 dead comrades.

    Sirwan Barzani, top commander of the Gwer-Mekhmour front, said ISIS suffered heavy casualties in the thwarted attack.

    ISIS also launched a multi-pronged assault on other Peshmerga bases early on Thursday, Barzani said, adding that the Peshmerga repelled the militant onslaughts in all areas.


    and TODAY

    Street clashes, 3 wounded as Peshmerga repulse ISIS offensive in Shingal

    SHINGAL, Kurdistan Region – Three Peshmerga were wounded in Shingal Thursday, where Kurdish forces repulsed an Islamic State attack on Kurdish-controlled positions in the war-ravaged city.

    General Hashim Sitayi from the 8th Peshmerga division told Rudaw the attack involved intense street clashes in the city.

    “The clashes went on for several hours, till late in the evening,” Sitayi said, adding that coalition warplanes were involved in some of the fighting. He could not provide details of ISIS casualties because of the poor visibility at night.

    Kurdish forces in December last year recaptured most areas around Shingal, including Mount Shingal, where thousands of Yezidis had taken refuge after an ISIS offensive last summer.

    Parts of the city are in Peshmerga control but roadside mines and explosives planted by the militants have hampered advances.

    Meanwhile Kurdish security forces seized three tons of TNT in the border town of Rabiaa and arrested several suspects, according to Qasim Smo, a Kurdish security official in Shingal, about 30 kilometers away.



    US ‘eyeing new air base’ in Iraq amid talk of major offensive on ISIS

    Sunday, 15 February 2015 20:14

    Baghdad (AIN) -Washington is working to install a new air base in Iraq’s Kurdistan to be used in a campaign against Islamic State (ISIS), media report. This comes as the White House’s special envoy on ISIS speaks of a ground operation in Iraq against the militants.

    This time an American stronghold in the region will be deployed in Erbil, the capital of semi-autonomous Kurdistan region in northern Iraq that is expected to be used as a logistics hub to supply primarily munitions for warplanes of the US-led coalition against ISIS militants.

    “The base is close to Erbil, the capital of the regional government…The warplanes will do surveillance, but the warplanes which will bomb ISIL targets will not take off from here,” Helgurt Hikmet, spokesperson for the Ministry of Peshmerga (Kurdish self-defense forces) said, as cited by Anadolu Agency.

    Turkey’s Hurriyet also reported that the US is preparing documents to get land leasehold for the next 15 years to station US military personnel and warplanes. A number of the US Air Force’s Black Hawk helicopters have already been deployed to Erbil earlier this month, to ensure quick rescue operations to save downed pilots bombing ISIS positions in Northern Iraq. Such operations became a priority after ISIS fighters burnt alive a downed Jordanian pilot.

    Fighter jets of the US and its western allies have been conducting airstrikes against ISIS in Iraq since early August. Starting from September 23, the US and its Arab allies: Saudi Arabia, Bahrain, Qatar, Jordan and the United Arab Emirates started bombing ISIS in Syria, without obtaining any authorization either from Damascus or a UN mandate.

    “There will be a major counter offensive on the ground in Iraq,” retired Marine Corps General John Allen, the White House special envoy on the Islamic State, told Jordan's official Petra news agency a week ago. The operation is actually supposed to be an Iraqi army offensive supported by the anti-ISIS coalition firepower.

    But on Friday, the Islamic State carried out a coordinated suicide bomber attack against the air base housing 320 US Marines just eight kilometers away from the western Iraqi city of al-Baghdadi, confirmed to be under the extremists’ control now.



    Iraqi PM Haider al-Abadi: We plan to regain Mosul

    Shafaq News/ Iraqi Prime Minister Haider al-Abadi has told the BBC's John Simpson that Iraq is making preparations to move against the Islamic State stronghold of Mosul. He also said that when he took office five months ago, he was surprised at the lack of support from the US. However, he said that has changed significantly in the last four weeks with ''an acceleration of support''. The Islamic state organization has dominated over vast areas in both Iraq and Syria during last year and announced the establishment of an "Islamic state". The organization is being exposed to intense air strikes since months ago by aiming to weaken and end the presence of the organization by American Coalition aircraft, according to US President , Barack Obama who stressed that at the announcement of the formation of the coalition. Many countries participate in the Alliance including Saudi Arabia, Bahrain, Qatar and the UAE, which had suspended its participation after the fall of the Jordanian plane pilot , Muath al- Kasasbeh and killing him, then raids resumed afterwards.



    Abadi told the BBC: the liberated areas in Mosul will be for the people of the province and not the center or region

    February 16, 2015

    02/16/2015 12:03 GMT

    Follow-up -oara -announced Prime Minister Haider al-Abadi, on Monday, the start of recording thousands of volunteers for the Liberation of Nineveh “Daash,” explaining that the liberated territories should be for the people of Mosul and not the center or the region, while pointing out that the disputed areas solved by the Constitution and not War.

    Ebadi said in an interview reported by the “BBC”, “The more the population of Mosul with the situation in Iraq and against the organization Daash, who are dear to us people and interested freed, and we have received requests for participation process Liberation thousands and we started the registration of names and volunteers,” noting that by saying, “We want people fighters and practical people on the ground that they can contribute to us. ”

    He added, “We have started preparations for a big, and I have appointed two months before the liberation of Mosul,” explaining that “Mosul is keen to be successful, I do not want to sacrifice civilians through fierce fighting, the correct configuration will reduce the losses.”

    He continued, “The central government is coordinating with the Kurdistan region in order to be editor of Mosul, a joint operation and a high degree of coordination,” pointing out that “the government does not want to dispute the liberated areas to happen.”

    Abadi said, that “the liberated areas should be for the people of Mosul,” stressing saying, “We as a government, federal or Peshmerga do not want to take control of the war, the disputed zones replace the constitution.”

    He pointed out that “the local police will be kept after the liberation of land to prevent any reprisals or subversive by Daash or armed groups, and this is essential,” noting that “fear of influence in the Iraq conflict because of conflicts between neighboring countries.”

    Abadi and welcomed “any Arab contribution in this regard,” explaining that “Jordan Daash seen as a threat to national security”



    Expert: seizing Mosul may take 10 months, 30,000 troops

    ERBIL, Kurdistan Region – The battle to free the city of Mosul from the grip of the Islamic State will require as many as 30,000 soldiers and take as long as 10 months, a leading Kurdish military analyst has told Rudaw.

    Colonel Masoud Salih, an instructor at Zakho Military Academy, said the city’s large size and a tough ISIS defense perimeter could make for one of the toughest, and longest, battles against terrorism in Iraq since 2003.

    He said the impending battle is expected to take place in June with Peshmarga forces acting as auxiliary units to the Iraqi Army.

    Without proper training in urban warfare, he added, the Iraqi army will struggle to dislodge the militants. Mosul fell to ISIS on June 9 after the Iraqi army deserted the city without serious confrontations.

    A successful attack on Iraq’s second-largest city, as explained by Salih, must be accomplished in three stages.

    “The first stage has started, which is surveillance, information gathering, training the Iraqi army and arming the [local Sunni] tribes,” he said.

    The second stage, Salih continued, would be: “Analyzing information, identifying the objectives, planning military operations, setting the Zero hour and cutting the supply lines of ISIS.

    “The third stage would be to commence the operation from three directions, east, south, and the west of Mosul.”

    Each front in the attack on Mosul, according to Salih, would require 10,000 soldiers., with each group divided into 8,000 active fighters and 2,000 reinforcements. He believes strongly the battle will be lengthy, possibly 10 months.

    Some commanders think differently, however, and believe ISIS will soon collapse.

    One military officer estimates ISIS has only some 12,000 fighters in Mosul. The officer, who chose to remain unnamed, said rumors of as many as 30,000 ISIS militants in Mosul are simply ISIS propaganda.

    Yet Salih was quick to point out why the fight would take so long.

    “ISIS has been digging trenches around Mosul for quite some time, also, suicide bombers, and IEDs on the roadsides would slow down the military movements. Urban warfare is difficult and there are also civilians living in the city and the military goals are not clear yet.

    “These factors will make the battle last longer,” said Salih.

    Regarding the role of the Peshmerga forces, Salih said, “The Peshmerga forces will not participate in the ground operations of liberating Mosul, they will act as an auxiliary force that would support the Iraqi army with heavy weapons. They will also protect the residential areas of the minorities in Bartilla, Hamdaniya, Bashika, etc.”

    Salih was among the officers sent to the US for training after 2003 and is aware of many facets of the new Iraqi Ministry of Defense. His experience has given him insight into why the US has not armed Peshmarga forces directly.

    “First, the US does not want to change the balance of forces in Iraq,’ he said.

    “Second, the Kurdistan Region still does not have an organized and united professional army.”

    Even so, Salih said the time to make military preparations for the battle of Mosul is running out.

    “All the signs show that the battle will begin in June, and basically this war needs six months of preparation, which means only four months left.”



    Official: Mission to retake Mosul to begin in April, May

    By Associated Press

    WASHINGTON — The operation to retake Iraq's second largest city from Islamic State militants will likely begin in April or May and will involve about 12 Iraqi brigades, or between 20,000 and 25,000 troops, a senior U.S. military official said Thursday.

    Laying out details of the expected Mosul operation for the first time, the official from U.S. Central Command said five Iraqi Army brigades will soon go through coalition training in Iraq to prepare for the mission. Those five would make up the core fighting force that would launch the attack, but they would be supplemented by three smaller brigades serving as reserve forces, along with three Peshmerga brigades who would contain the Islamic State fighters from the north and west.

    The Peshmerga are Kurdish forces from northern Iraq.

    The official said there also would be a Mosul fighting force, largely made up of former Mosul police and tribal forces, who would have to be ready to go back into the city once the army units clear out the Islamic State fighters.

    Included in the force would be a brigade of Iraqi counterterrorism forces who have been trained by U.S. special operations forces. The brigades include roughly 2,000 troops each. The official was not authorized to discuss the operation publicly and spoke on condition of anonymity.

    The official said the U.S. will provide military support for the operation, including training, air support, intelligence and surveillance. The official said there has been no decision made yet on whether to send in some U.S. ground troops to help call in airstrikes.

    Islamic State militants overtook Mosul last June, as the group marched across large sections of Iraq and Syria, sending Iraqi forces fleeing. At this point, officials estimate there are between 1,000 to 2,000 Islamic State insurgents in the city of Mosul. Military leaders have been talking about retaking the city for some time, but they have said they won't launch the operation until the Iraqi troops are ready.

    The official said they wanted to retake Mosul in the spring, before the summer heat and the holiday month of Ramadan kick in.

    "But by the same token, if they're not ready, if the conditions are not set, if all the equipment they need is not physically there and they (aren't) trained to a degree in which they will be successful, we have not closed the door on continuing to slide that to the right," he said.

    The official also revealed for the first time that Qatar has agreed to host a training site for coalition forces to train moderate Syrian rebels who would return to Syria to fight the Islamic State forces there. Other sites are in Turkey, Jordan and Saudi Arabia.

    Last edited by chattels; 02-21-2015 at 06:21 AM.

  6. #6

    Re: " The Dinar Daily ", Friday, 20 February 2015

    Reserved for national guard news

  7. #7

    Re: " The Dinar Daily ", Friday, 20 February 2015


    TODAY : " It is expected that the dollar sales decline in the auction for this year, according to the law of the state budget, which began in Parliament on 29 January last, and ratified by the Presidency of the Republic on 10 February and this will be put into effect when published in the Official Gazette."



    The president of the republic approves budget bill.

    10/02/2015 12:00

    BAGHDAD / Nina /-- President Fuad Masum approved the federal budget bill today . ( * PAST TUESDAY )


    The House of Representatives has approved the federal budget for 2015 law late last month at $ 119 trillion dinars with a deficit of 25 trillion dinars.


    "Obelisk" published the text of the 2015 Balancing Act

    Published "obelisk" the text of the last voter Budgeting Act by the House of Representatives.

    Behalf of the people


    Resolution No. ()

    Based on what passed the House of Representatives, according to the provisions of subsection (I) of Article (61), *

    * [Article 61: The Council of Representatives shall be competent in the following: First: Enacting federal laws.]

    item (iii) of Article (73) of the Constitution.*

    * [ Article 73: The President of the Republic shall assume the following powers: Third: To ratify and issue the laws enacted by the Council of Representatives. Such
    laws are considered ratified after fifteen days from the date of receipt by the President ]

    President of the Republic decided on / / 2015 ( * SEE ABOVE DATE FOR RATIFICATION BY PRESIDENT MASOUM )

    Issued the following law:

    Law No. () for the year / 2015

    The general budget of the Federal Republic of Iraq for the financial year / 2015 Act

    ((Chapter I))

    - Revenue -

    Article 1

    First of all:

    A general budget estimated revenues of the Federal fiscal year / 2015 in the amount of (94,048,364,139) thousand dinars (ninety-four thousand eighty-four billion) as shown in (Table / A - revenue according to the counter) attached to this law.

    (B) calculation of the revenues derived from the export of crude oil based on the average price of $ 56 dollars per barrel and the rate of export of (3300000) barrels per day (three million three hundred thousand barrels per day), including 250,000) barrels per day (two hundred and fifty thousand barrels per day) for amounts Crude oil produced in the province of Kurdistan and (300,000) barrels (three hundred thousand barrels per day) for quantities of crude oil produced by the province of Kirkuk, and that all revenue actually permanently revenue of the public treasury of the state to account.

    Second: - The ministries and departments not associated with the Ministry to register all monetary amounts of the grants received by the income once the public treasury of the Federal under the memoranda of understanding with foreign governments or institutions and the Federal Ministry of Finance re-allocated for the purposes of which was awarded for it in coordination with the Federal Ministry of Planning.

    Third: -

    Restrict the amount of donations given to the ministries and departments not associated with the Ministry after the acceptance of the Federal Minister of Finance income once the public treasury of the Federal, that the Federal Minister of Finance allocated to the ministry credits or entity is associated with the Ministry of the Exchange in accordance with the purposes for which was granted for it.

    Fourth: -

    Restrict the amount of grants or contributions by governments and institutions, foreign to the ministries and departments not associated with the Ministry or the provinces and provincial councils under the memoranda of understanding income once the Treasury whether these grants and donations whether in the form of technical assistance or the implementation of projects that are under Akiemha speculative in ministry records or organization is not related to the Ministry or the regions and provinces and provincial councils animate the relationship and be accepting cash donations or in-kind and reallocation coordination between beneficiaries and all of the planning and finance ministries federated.

    Fifth: -

    The grants and subsidies unused allocated to government departments and public sector companies the end of the financial year / 2014 in accordance with the accounting standards used to calculate the final exchange amounts amounts calculated and considered surplus or paid amounts in excess along these lines down payment allocated to the Department of the grant or unit in the fiscal year / Account 2015.

    ((Chapter II))

    - Expenses and Aladz-

    Article 2

    First expenses: -

    Allocated amount (119585322783) thousand dinars (one hundred and nineteen thousand five hundred and eighty-five billion and three hundred and twenty-two million, seven hundred and Eighty-three thousand dinars) for the expenses of the financial year / 2015 distributed according to (expenses field / 3 total) of the (Table / b expenditure by ministries) attached to this law.

    A sum of $ (41991214070) thousand dinars (Forty-one thousand nine hundred and Ninety-one billion two hundred and fourteen million, seventy thousand dinars) for the expenses of projects distributed according to (field / 2- expenses of the investment projects) of the (Table / b expenditure by ministries) attached to this law .

    (B) an amount of (77594108713) thousand dinars (Seventy-seven thousand five hundred and ninety-four billion one hundred and eight million, seven hundred and thirteen thousand dinars) for ongoing expenses in accordance with the (field / 1- current expenditures of the (Table / b expenditure by ministries) attached to this law.

    (C) The sum of (125000000) thousand dinars (one hundred and twenty-five billion dinars) contingency reserve within the provisions of other expenses to the budget of the Federal Ministry of Finance out of the assignments mentioned in item (i - b) referred to above.

    (D) The sum of (3500000000) thousand dinars (three thousand and five hundred billion dinars (l) the reconstruction and development of the regions and provinces projects including Kurdistan) out of the allocations referred to in clause (i / a) of Article (2) above is distributed according to the number of residents each province. And implemented as follows: -

    1. Conservative provide reconstruction conservative districts, counties plan has been approved by the Provincial Council of depending on the plans by the district councils and respects to the Federal Ministry of Planning for the purpose of examination and approval on the most sensitive areas affected within the province and to be distributed to maintain the district allocations aspects associated according to population ratios after excluding strategic projects that benefit more than one hand or eliminate not exceed the cost of the new strategic projects for 20% of the province allocations.

    2. The conservative exclusively implementation of the reconstruction plan approved and the provincial council responsible for monitoring implementation.

    E - depends amount equal to $ 2 for every barrel of crude oil producer in the province, and (2) a dollar for every barrel of crude oil refined in refineries conservative and (2) a dollar for every 150 cubic meters of natural gas producer in the province, and to allocate an amount of (1752237651) thousand dinars (one thousand seven hundred and fifty-two billion two hundred and thirty-seven million six hundred and fifty and one thousand dinars) as projects to the provinces and territories from producer continued allocations referred to in clause (i a-) of Article (2) above and the amount the remainder of the amount (1752237651) thousand dinars (one thousand seven hundred and two and fifty billion, two hundred and thirty-seven million six hundred and fifty and one thousand dinars) and the runway within the table (and) attached to this law shall be disbursed to keep producing at check increase in the source of crude oil revenues and the governor after the provincial council approval right to dispose of and use, including not more than (50%) of the allocations referred to above for the purpose of importing electric energy or the provision of services to maintain and clean and ongoing expenses, according to the needs of the province, and the priority spending areas hardest hit by the production and oil filter and environmental protection projects, and through the conduct transfers required coordination with each of the finance and planning ministries federated, to be adjustments computational after audited by the Office of Federal Financial Supervision in the budget of the following year for the purpose of securing teams (3) dollars for the remaining share of each province produced.

    Second: the deficit:

    A. The total planned deficit of the general budget of the Federal fiscal year / 2015 (25401235783) thousand dinars (twenty five thousand four hundred and one billion two hundred and thirty-five million, seven hundred and Eighty-three thousand dinars) and cover the deficit of the internal and external borrowing and amounts retained cash in the Ministry of Finance account Federal savings rate is expected to increase the sale of the source of crude oil prices or increase exports of crude oil, according to the details set forth in the following (Table 1): -

    (B) authorizes the Federal Minister of Finance to continue to borrow for the purpose of bridging the projected deficit in the federal budget of: -

    1. The International Monetary Fund, complementing the amount of (4.5) billion dollars (four billion five hundred million dollars).

    2. World Bank, complementing the $ 2 billion dollars (two billion dollars) during the year / 2015 allocated of which $ 355 million dollars to the Ministry of Construction and Housing for the purpose of financing highway traffic.

    3. The use of the Special Drawing Rights of up to SDR (1.8) billion dollars (one billion, eight hundred million dollars).

    4. domestic borrowing, including issuing orders and Treasury bonds.

    (C) authorize the Ministry of Finance to borrow an amount (500000000) dollars (five hundred million dollars) from the Islamic Development Bank to allocate an amount of (225 million) dollars (two hundred and twenty-five million dollars) to the Ministry of Construction and Housing for the purpose of financing the rehabilitation of Highway No. 1 / and that the remaining amount is used for projects other ministries in agreement with the Islamic Development Bank.

    Third: - is related to the Ministry and allocations contingency reserve amounting be financed remaining allocations of current expenditures, including the ruling sovereign expenditures of the ministries and agencies (18150865022) thousand dinars (eighteen thousand, one hundred and fifty billion eight hundred and sixty-five million and twenty-two thousand dinars) and distributed in accordance with the table (and ) attached to this law when you check extra cash for increasing amounts of crude oil exports, the source or the increase in the selling price of crude oil source.

    ((Chapter III))

    - General and Final Provisions -

    Article 3

    Limits the exchange of credits main accounts of expenses (compensation of employees, supplies services, intermediate goods, asset maintenance, capital expenditures, grants, subsidies and debt service, interest and other expenses, commitments and contributions and foreign aid, special programs, social welfare) and the expenses of the projects approved in the general budget of the Federal Republic Iraq by the Federal Minister of Finance, and the concerned minister or the head of the body is related to the Ministry, purses or head of the provincial power exchange Council directly in the light of the Allocations within the annual budget and for the purposes specified under the spending approved by the Federal Minister of Finance may not enter into a commitment to certifying plan more than what is intended in the federal budget.

    Article 4

    (Transfers) to the Ministry of Finance to take what it takes to make transfers, as follows (Table 2):

    First: the reallocation amounts in the table below

    Second: Add revenue derived from the sale of crude oil to refineries and government revenue of entering into the state treasury Bmekdr 1642 billion dinars.

    Third: the transmission of the amounts contained in the first item on the following table (Table 3):

    8102 + 1642 to 6152.25 = 3591.75 rest (reduce the budget)

    Third, are reduced to the total expenditures in the general budget for 2015 of $ (3591.75) billion dinars.

    Article - 5

    First: Federal Minister of Finance the power to conduct transfers between funds the general budget of the Federal Republic of Iraq ratified in the annual federal budget at the level of the doors, sections and chapters and articles, species and sequence type and for each individual case, has the right to authorize the ministers and heads of departments not related to the Ministry, governors and heads of provincial non-boards associated with the province the power to make transfers between funds the federal budget of the Republic of Iraq approved in the federal budget annual rate not to exceed 5% (five percent) from the exchange of the unity of the other exchange is reduced allocations except for credits of investment projects, taking into account the provisions of subsection (8) section (9) of the Financial Administration Act No. (95) for the year / 2004 that Ataatm transfers of capital project expenditure allocations to current expenditures.

    Second: The Minister of Finance is committed to coordination with the Minister of Planning and put tight controls to limit the waste of funds through transfers between the sections and the sections and chapters of the budget and orders parts for construction contracts.

    Article 6

    (A) to the Prime Minister and the Federal Minister of Finance of the Federal common amounts approved for use (contingency reserve) set forth in item (i / c) of Article (2) of the Act for the payment of necessary expenses after running out of this law, if there is an urgent need to spend without being restricted ( domestic spending) and the lack of allocation to cover this need Reduction (3) billion dinars (three billion dinars) for each case, and if the amount exceeds the limit mentioned rely Cabinet approval of the federal proposal of the Federal Minister of Finance and the Federal Minister of Finance to prepare regulations for the use of the contingency reserve allocations within the Implementing Regulations annual federal budget.

    (B) the Ministry of Finance to provide a quarterly report expenses contingency reserve to the House of Representatives.

    Article -7-

    First: -tstkhaddm approved in this Act appropriations for up to 31 / December of the fiscal year / 2015.

    Second: -takid the income earned during the fiscal year 2015 revenue of the federal public budget until 12/31/2015, either income received after the end of the financial year / 2015 are recorded revenue of the general budget of the federal fiscal year / 2016.

    -8-Article shall not make any transfers within the allocations (reconstruction and development projects regions and provinces) between the provinces.

    Article - 9. authorizes the Minister of Municipalities and Public Works validity of federal transfers between own resources to the budgets of municipal institutions within the same province and conduct transfers within the goods and services account for each municipality Foundation.

    Article - 10

    First: - define the Kurdistan region's share (17%) of the seventeen percent of the total expenditures shown in (Table / e. Expenditures ruling) attached to this law and paid by the Federal Ministry of Finance.

    Second: -

    The proportion (17%) Seventeen percent of the Kurdistan region of actual total expenditure (current expenditures and expenses of the investment projects) of the general budget of the Federal Republic of Iraq ratified after excluding expenses of the sovereign (the House of Representatives, the Presidency, Council of Ministers, Ministry of Foreign Affairs, Ministry of Defense, the Federal Court, the Electoral Commission, the Justice and Accountability, Property Claims Commission, Office of the Inspector General Property Claims, the Integrity Commission, Office of Financial Supervision, the UN High Commissioner for Human Rights, wage negotiations and legal claims of debt, wages scrutiny of international auditing firm, and the Committee of Financial Experts , contributing to the cost of crude oil production source, the benefits of World Bank loans, the benefits of IMF loans, interest on other foreign loans, interest on the public treasury transfers bonds, bond interest to extinguish the external debt of the private sector, the amounts of Arab and international contributions, travel Directorate expenses and citizenship and leadership border forces and projects of the border crossing points, the National Security Council, the debt settlement abroad, wages for transporting crude oil source via Turkey, premiums bilateral agreements with the Paris Club countries and countries outside the Paris Club, the benefits of premium bilateral agreements with the Paris Club countries and countries outside the club Paris, the payment of the value of the versions of the old treasury transfers, cash settlement small private sector debt abroad, co-financing, port projects, railway projects, dam projects, project management atmosphere, premiums IMF loans, premiums World Bank loans and receivables Arab Monetary Fund for the restructuring of Iraq's debts Convention).

    Quotas governorates not organized in the region by taking into account the number of inhabitants of the total expenditures shown in (Table / d expenditures ruling) attached to this law after excluding share amounting to the Kurdistan region (17%).

    Fourth: -and an increase or decrease in the total federal budget added or expenses reduce the share of the Kurdistan proportionally province with the increase or decrease, taking into account the provisions of clauses (II, III) of this Article, including modifications that take place on sovereign expenditure and the ruling from the transfer of allocations to General expenses by the same percentage mentioned above and the Federal Ministry of Finance to hold settlement calculates the share of the Kurdistan region in the light of the actual expenses for prior years shown by the final accounts approved by the Federal Office of Financial Supervision.

    Fifth: - allocating a percentage of allocations of federal land forces of the Iraqi army to the Peshmerga forces according to population ratios as part of the Iraqi security system.

    Article - 11

    First: - (a) The Federal Office of Financial Supervision in coordination with the Office of Financial Supervision of the Kurdistan region of calculating and determining federal income withdrawn in the region this year and the Ministry of Finance in the region to transfer to the Federal Ministry of Finance monthly.

    (B) are the settlement of dues between the province and the federal government for the years 2004 to 2014 and subsequent years after its audited by the BSA in agreement with the Federal Audit Court of the province.

    Second - when the failure of the province to pay federal income withdrawn to the public treasury of the Federal Ministry of Finance to deduct the federal quota under clause (i) of this Article equivalent to the planned revenue in the federal budget and conducting settlement calculations later.

    Third: - If you do not fulfill any party (the federal government - the Kurdistan Regional Government) oil or financial obligations agreed to in this budget, the other party is also bound to fulfilling its obligations or oil was financial.

    Article - 12

    Re-examined in the share of the Kurdistan region and governorates not organized in a region in the federal budget for the year / 2015 and beyond in light of the results of the census and the census for the year / 2015 to be in the light of determining the actual amount of the share of the region or province is part of a region in the federal budget for the year / 2016 and display the difference on the Federal Minister for settlement.

    Article -13-

    First: - comply with federal ministries and departments not associated with the Ministry of B (Table / c) the number of manpower for the ministries and departments centrally funded for the year / 2015 to the present law and the Federal Minister of Finance at the request of the ministry or organization is not related to the Ministry, the validity of the introduction of grades and modify angel output what comes : -

    A development of the grades covered by the political separation by re politicians dismissed Law No. 24 of 2005 as amended.

    (B) the development of scores of varieties developed in the ministries and departments not related to the Ministry and enacting a law after the General Secretariat of the Council of Ministers and authentication that is being mandated insurance through transfers of current within each ministry or expenditure side is linked to the Ministry.

    C - the introduction of grades for the purpose of installing contractors to permanent staffing exception from the requirement old who contracted exclusively within the operating budget and increase the contractual services to three years and promote their transactions as of 01/07/2015 that does not entail any financial consequences that retroactively with buyout National savings if proofed by the increase in salaries and be the priority of the contractors who have been audited Adaberhm of committees formed for this purpose in accordance with the customs clearance No. 53 of 2013 issued by the General Secretariat of the Council of Ministers.

    (D) contractual service counted for the purposes of the service contract and the bonus and promotion for each tenured after 9/4/2003 in all state departments, which worked out before proofed, that does not entail any financial consequences retroactively.

    E re dismissed against the backdrop of security incidents majoring 5000 degrees and careers of scores of existing originally allocated to the Ministry of the Interior.

    F proves contractors with the Independent High Electoral Commission in the registration centers exclusively who have contractual service until 1/3/2010 more than six months that the 1,200 contractor does not exceed the requirement not to have had to owners of one of the state departments disconnected or decision of the Commission investigative, from within the allocations included in the compensation of employees in the door of his agenda and transfers the remaining amount of 68.381 billion dinars for the project barometric, to prove to the rest of them when contractors provide financial abundance.

    (F) the introduction of grades and the addition of the financial allocations when approving the National Guard law and be the nucleus of the popular crowd formed, an exception to Article 23 / II of the Act.

    Third: - ministries and departments not associated with the Ministry is committed to announcing the grades developed within the angel of the year / 2015 in the local newspaper with a commitment to proportions of the population in each province, taking into account to determine the percentage (10%) of the grades developed for the year / 2015 for the purpose of the appointment of the families of martyrs, prisoners and covered by the law political prisoners and their families Foundation average / 35 for the year / 2013 with terrorism, including at least 5% of the

    Grades developed for the purpose of appointment of university graduates (PhD and Master's)

    Fourth: -

    A prevents the appointment of employees in government departments all manner contract with the possibility of renewal of the previous decades in the case of a need to renew these contracts.

    (B) The provisions of paragraph (a) above contract with workers in new investment projects and water plants, sewage and electricity, as instructed by the implementation of the federal budget for the year / 2015 in addition to contracting with experts and owners of competencies in the case of hiring retired conduct monthly grant for their services does not exceed one million dinars In addition to the pension ..

    Article -14-

    First: the ministries and departments not associated with the Ministry prior coordination with the provinces when selecting projects and issued each ministry or institution not linked to the Ministry of distribution projects plan and learn provinces by and abide by the proportions of population prescribed for each province to ensure the equitable distribution except for strategic projects that benefit the most from the province and lack of overlap between the Projects included in the regional development plan and authorize powers of the minister to the governor on the announcement and assignment and execution of projects ministerial (Health, Municipalities and Public Works, Trade, Construction and Housing, Agriculture, Labor and Social Affairs, Culture, Youth and Sports) without the sum of (10) billion dinars (ten billion dinars ) after the redeployment of funds from the ministry account to maintain account with the exception of the proposed projects for the year / 2015 for the modernization of the basic and detailed designs for the city centers and studies of structural provinces and the study of the development of the desolated areas and preservation of historical and regions areas with nature heritage and natural reserves and that are issued by the Ministries of Planning and Finance Alathaditan schedule projects concerned each province and authorizes the Minister of Finance and Planning Alathadian to issue necessary instructions to facilitate the implementation of it.

    Second, to maintain the mandate of any ministry of the federal ministries and as competent to carry out projects in that province to calculate allocations (reconstruction and development of the regions and provinces) allocated to them.

    Article - 15

    Federal Minister of Finance validity Add allocations for the purpose of extinguishing the predecessor installed from 1/1/2008 until 31/12/2012 and spent as a result of the laws of the window and after that are audited by the Federal Office of Financial Supervision and the Federal Cabinet approval on them.

    Article - 16

    The expansion of the open door of private investment and participation with the private sector by the ministries and departments not related to the Ministry and the provincial limits of competence and form for this purpose a higher committee that the Council of Ministers issued its own exceptions to the relevant laws instructions.

    Article - 17

    Federal Minister of Finance to increase appropriations and certified to cover the work of the National Center for Laboratories Construction and the National Center for Engineering Consultancy of the Ministry of Construction and Housing up to 50% of the revenue derived from the implementation of those actions exception of section one of the Financial Administration Act No. 95 of 2004 and that the cost behavior the amounts for the development centers and support technical and administrative Quadrhma.

    Article - 18 -

    First, be borrowing from the Agricultural Bank and Bank of industrial real estate and bank interest rate of 2%.

    Second: bind all of the Agricultural Bank and Real Estate Bank and the Industrial Bank and the Housing Fund distribution of loans to be granted to citizens by the population of each province according to the standards of the Constitution of the Republic of Iraq.

    Third: The Ministry of Finance the amount of interest rate amounting to 4% (four percent) of the total loans granted to the project Basmajh residential.

    Article - 19 -

    Extinguish the Court due to the Government owed by taxpayers to pay the tax due to the continuation of the official authorities to apply Article 20 of the Budget Law for the year 2008 for the period from 1/1/2009 until 31/12/2011, according to the provisions of paragraph (11) of Section IV of the Financial Administration Act No. (95) for the year 2004 average.

    Article - 20-

    A indeterminacy in any leadership positions (Director and above) unless there is a law degree at the ministry or the organizational structure of the law, according to the ministry or organization is not related to the Ministry.

    (B) cancel all leadership positions in which the legal text did not respond.

    Article - 21

    First of all-

    Shall be exempt from all duties of goods imported goods by government departments in its name and use.

    Secondly -

    The exemption covers the above goods and imported goods for government departments and the public sector from governments or donor institutions.

    Article -22-

    Dues are calculated foreign companies operating in the Kurdistan region for the purpose of extracting oil from within the region's share of $ (17%) and continue to work to do so.

    Article -23-

    First: All Communications and Media Authority for 2013 and 2014 revenues turned into the public treasury of the federal state, after deducting the amount of the expense of its own budget and approved by the trustees of the Federal Council and the Ministry of Finance.

    Second, the Communications and Media Authority compel mobile phone companies pay what it amounts and fines and financial obligations during the first half of 2015.

    Article -24-

    Does not work any decision contrary to this law nor the public treasury of the Federal bear any additional financial burdens outside the law.

    Article - 25 -

    FAFSA each of the subsidiaries for each of the Rafidain and Rasheed Bank and the Islamic Bank Alhakhma Mesopotamia Islamic window link and that the capital is moved from window to window and Mugodathma banks mentioned above to the Islamic Bank of Mesopotamia.

    Article - 26

    Cabinet authorizes the development of infrastructure projects determined on according to need ministries and provinces have no more than five (5) billion dollars and implemented on the basis of payment term and that deserves after a period of not less than (3 installment) years from the date of completion, taking into account the share the Kurdistan region of $ (17%) of the amount above.

    Article - 27 -

    The Council of Ministers set up the Supreme Council for Reconstruction and that is regulated by law within three months.

    Article -28-

    Establishes fund the reconstruction of areas devastated by terrorism and is funded by grants and international aid devoted his first sum of $ 500 billion dinars runway within a table (f) attached to this law.

    Article - 29 -

    The Federal Minister of Finance to issue stamp on behalf of displaced persons and support the reconstruction of areas devastated by terrorism and identifies exaggeration in accordance with instructions issued by the Department of Accounting Auditors collected from government departments and allocate revenue to support displaced people and fund the reconstruction of areas devastated by terrorism.

    Article - 30 -

    Committed to the ministries of electricity, telecommunications, Municipalities and Public Works of the Federal, and the Municipality of Baghdad to activate the collection of wage electricity, telephone, water, sewer and all other fees provided for under its own laws for the services provided to citizens and businesses and factories and government agencies and the public sector and the other for the purpose of increasing their own resources so as to reduce dependence on the state budget Federal.

    Article -31-

    When you transfer an employee of the Department of State services centrally funded or self to the private sector bears the ministry or organization is not related to the Ministry half his salary received by the transferee, including the department for two years from the date of transfer to the cut of his relationship with his constituency final.

    Article -32-

    Authorizes the Minister of Finance the power to enter into contracts on behalf of the Republic of Iraq to issue guarantees an interview to export and import bank in the United States for guarantees issued by financial institutions for the financial obligations, whether directly or indirectly, to finance the contract Iraqi Airways through its purchase of a number of aircraft New Civil Boink of the company and the limits of Akiem these aircraft to the dollar during the financial year / 2015.

    Article -33-

    A - the imposition of sales tax on Kartat mobilization of mobile phone networks and the Internet (20%) of the card value (15%) on the purchase of cars of all kinds and tickets and 300% on cigarettes and alcoholic beverages and the Ministry of Finance to issue the necessary instructions for the application of the provisions of this paragraph in the pan Iraq.

    (B) activating the customs tariff No. 22 of 2010 amended the law and the law of Consumer Protection No. 1 for the year 2010 and the Law on the Protection of Iraqi products No. 11 for the year 2010.

    Article - 34

    Minister of oil demand from the Prime Minister and Minister of Finance to issue remittances treasury or treasury bonds when needed to cover benefits the oil companies operating in the country that the total does not exceed the 12 billion dollars (twelve billion) by issuing one or multiple versions during the year / 2015.

    Article - 35

    The Ministry of Water Resources sale results Cree rivers and under its proceeds to the state treasury.

    Article 36

    Federal ministries and provinces committed and non-related to the Ministry of buying needs of federal ministries products that not less than the value added of these collected and processed products (25%) of the cost of import value added to them and to the local product prices are not higher than the imported counterparts by more than ( 10%), taking into account the quality and quality specifications.

    Article - 37

    For the purpose of the contribution of state employees and the public sector in the face of economic challenges and to support our security forces in securing the war requirements against terrorism is the adoption of national savings to the staff of the state system and the public sector issued by the Federal Council of Ministers and is committed to the Ministry of Finance to restore the amounts that have been saved from staff if achieved savings of Finance.

    Article - 39

    Each of the Rasheed Bank and the Rafidain Bank A - continue lending to public companies, agencies and departments self-funded, which suffers a shortage of its own resources for the purpose of salaries and allowances of its members insurance and after the bodies above provide the economic feasibility of the two when borrowing request and that the two banks to schedule repayment of loans granted to the points above and for the same purpose and granted to the two above since / 2010 and the end of the year / 2015, which has not been paid so far, according to a timetable as of the date 01.01.2016 up with scheduling the payment of treasury transfers, which were awarded in 2012 and 2013 and 2014 to all of the real property Claims Commission and the Bretton prisoners and martyrs.

    Article -39-

    Authorizes the Council of Ministers established the Foundation guarantee deposits of citizens in government and private banks to be regulated by law.

    Article - 40-

    The Minister of Finance Compensation entitlements exchange one batch of dedicated public budget for 2015 amount resolutions approved and gained class peremptory according to compensate the property affected by the previous regime Law No. (16) for the year 2010 and to all the provinces, including Kurdistan that the Ministry of Finance does not exceed the disbursement period stipulated in the law and that the exchange is in accordance with the priorities of temporal sequences of the date of approval.

    Article -41-

    Calculated body the popular crowd allocations to ensure the involvement of 0.5% of the population of each province and Iraqi administrative unit level spend hand, including (the districts of Baghdad belt, North Babylon, Anbar, Salah al-Din, Diyala, Nineveh, Kirkuk (Hawija and Bashir and areas controlled by by terrorism) except Kurdistan region, taking into consideration the numbers located currently enrolled after 10- 6- 2014 to be among share their provinces, taking into account the balance of all the provinces and the work of the popular crowd in coordination with the security and military forces and the Peshmerga forces in the disputed areas, the The transmission of the popular crowd allocations to the National Guard system if the adoption law (to ensure the participation of all provinces and territories in the case of approval) and should not have any numbers to change the popular crowd only after the approval of the National Guard Law.

    Article -42-

    The Ministry of Planning to provide the House of Representatives monthly disclose all contracts exceeding Akiemha ten billion dinars.

    Article -43-

    Re-work the granting of the brand to the Iraqi Federation of Industries.

    Article -44-

    The Ministry of Finance and the Central Bank has developed to support the government and private banks to improve their performance and enhance their liquidity plans.

    Article - 45

    Not the Council of Ministers may issue any decisions include the grant in any ministry or entity is linked to the Ministry without the presence of the allocations in the budget approved during the fiscal year to conduct settled in the subsequent year's budget.

    Article - 46 -

    Exception establishment of Islamic banks from the Iraqi Central Bank's instructions up capital of banks to promote Islamic banking services deal does not apply retroactively.

    Article -47 -

    Give priority to the national maritime carrier to transport imported goods to calculate the ministries and public sector of Iraq.

    Article -48 -

    Reduce customized cars for the three presidencies, ministries and institutions and amounts related to the Ministry in the Iraqi state with lower maintenance and fuel expenses allocated to the car and determine prepared as follows:

    First of all:

    1. The President and the Prime Minister and President of the House of Representatives for each one of them five cars.

    2. Vice-President and Vice-Prime Minister and Vice President of the House of Representatives for each one of them four cars.

    3. Ministers and rank shall be fixed - each one of them three cars.

    4. Agents and rank shall be fixed for each one of them in two cars.

    5. General Managers and rank shall be fixed for each one of them one car.

    Third: Do not promote any pension treatment until after discharge from state property movable and immovable property and retroactively from the date of 9/4/2003 and the Council of Ministers to instruct the body to stop the national retirement pension for retired persons named first item of the article (above) is not called pension until after the delivery of the discharged state property.

    Article - 49-

    The Federal Council of Ministers to take the following actions and measures:

    Transfers of staff between ministries and public sector companies to address the surplus and deficit angel among those institutions.

    The assignment of redundant employees in all public sector companies to retire the exception of the age requirement contained in the consolidated pension law in force including members of municipal councils (incisors and neighborhoods), who were the owners or employees of companies.

    Transfers amounts between the public sector companies operating within the same ministry exception of the Companies Act No. 22 of 1997.

    Prevent the purchase of cars, furniture except novel circles.

    Pressure Alaivadat Foreign Posts 50% and accounted for and that too as significant benefit to the country and the minimum number of participating delegations.

    Reduce military cadres, cultural, health and commercial attachÚ or any other attache offices and integrated into the embassy, ​​and operates under the supervision of Ambassador and in coordination with the ministries.

    Reduction following appropriations and 75% (hospitality, additional works, allocations night, conferences, seminars and celebrations, and the mobilization of cards allocated for staff and officials' wages and mobile phone calls, and transportation expenses, bonuses, and other expenses.)

    Article -50 -

    Central Bank is committed to identifying sales of foreign currency (dollar) in daily auction ceiling not to exceed $ 75 million a day with the exercise of justice in the sales process.

    And calls for the participant bank in the auction provide goods enter documents and statements of tax settling accounts and savings Alkmarki within 30 days from the date of purchase of the amount and otherwise apply to the bank penalties stipulated in the Central Bank Act or regulations issued it and use other banking tools to maintain the strength of the dinar against the dollar.

    Material: - 51 -

    Kurdistan region is committed to allocating the budget to the province of Halabja share of the Kurdistan region according to population ratio.

    Article: - 52.

    Priority spending areas of the province to be most affected by the production of oil and filter and environmental protection projects and construction and is committed to the region to allocate funds for the petro-producing regions of oil and gas in the provinces of the region's share of the province.

    Article: - 53.

    Transfers of rural women allocations from the General Secretariat of the Council of Ministers to the budget of the Ministry of Labor and Social Affairs, the Social Welfare Department allocations for women with Alhvat the programs and objectives.

    Article: - 54.

    Spending units to open a checking account (Deposit) deposited by voluntary contributions from governmental and non-governmental organizations and individuals and departments are transferred to the account of the crowd in the popular open the bank for this purpose in the form of the crowd to open that account.

    Article: -55-

    Local governments in the provinces (Anbar, Salahuddin, Nineveh) to take advantage of the existing data in the Supreme Committee for the displaced exchange amounts to maintain all of the development of the regions and provinces and petrodollars in relief to the displaced and trapped program within the province allocations exception of financial management and public debt, No. 95 of 2004 and be under the direct supervision by the Provincial Council and the follow-up to the House of Representatives of the members of that province.

    Article - 56.

    Ministry of Trade exchange ration card items on the form of cash to the beneficiaries of the displaced people in hot areas.

    Article - 57 -

    The Ministry of Finance and ministries all wages and employee benefits in the provinces in hot areas.

    Article -58 -

    The Federal Minister of Finance in coordination with the Federal Minister of Planning to prepare the necessary instructions to facilitate the implementation of the provisions of this law,
    if passed.

    Article - 59 -

    This law shall be published in the Official Gazette and implemented with effect from 1 / January / 2015.



    Parliamentary Finance denies the exception of the budget publication in the Official Gazette Law

    Date: 02/15/2015 16:26

    Finance Committee, Sunday denied, the exception of the financial budget for the current year of its publication in the official newspaper the facts in order to gain legal status in the application on the ground and work with it.

    He said the Commission's decision Ahmed meat Rashid told / information /, that "all Laws to be published in the Official Gazette (facts) to gain legal status and the law to work out the application on the ground," adding that "the current year's budget is excluded from this measure." .

    He added that "after the vote by the Parliament reached budget to the presidency of the ratification and will be published in the Official Gazette then go to copy them to the Ministry of Finance to work out."

    He pointed out, "it was the exchange during the first month (January) of the current year, 1/12 law, but the month (February) will exchange according to the terms of any budget, after ratification of the presidency Aljmoria the law."

    It is said that the media had published statements by officials that the current year budget is excluded from the deployment of law in the Official Gazette of the gain to the time factor.


    WHAT !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! ??????????????????????????


    Parliamentary Economy: approve a supplemental budget if oil continues to climb

    Forecast for economic and investment commission in Parliament on Saturday, asylum Parliament during the current year to approve a supplemental budget after bridge the budget deficit as a result of oil prices move upward.

    , said committee member and fulfillment in a fight, told / information / "The oil seen recent days, a slight rise and reached nearly US $ Stone. "
    She added that "there are expectations to rise during the current oil two months and up to $ 65 price of a barrel of oil and it is hoped that up to a barrier of $ seventy." showed that in the event of financial abundance may resort Parliament to approve a supplementary budget for 2015 after a deficit in the current budget plugging in the outskirts of the end of the current year.



    Parliamentary Finance: next week will see the release of the federal budget for all ministries

    If done and they stick to that they're supposed to do then 24-48 hours after officially posted then they have to fund the budget which means it should be at the new rate

    Sent from Yahoo Mail on Android
    Date:Thu, Feb 19, 2015 at 1:24 PM
    Subject:Looks like Sunday they will officially publish the Budget in the Gazette.

    19/02/2015 17:00

    Sunday .. publication of the budget in the facts of Iraq Law

    BAGHDAD / Obelisk: Iraqi facts circle, on Thursday, confirmed on Sunday that the next date of publication of the Federal Budget Law for 2015 in the Journal of the facts, noting that the work is underway so far on the formulation and audited in preparation for deployment.
    The general director of the Iraqi facts circle Hussein punitive, in a statement seen by "obelisk", "The number of Sunday from the Iraqi Gazette, will include the publication of the general budget of the Federal Republic of Iraq for the financial year / 2015, all the details of the law," he "provides the latest issue of the newspaper The facts of Iraq, in the approved distribution centers, and a library of justice in the ministry's headquarters. "
    He punitive "The federal budget law requires several days to be drafted and printed in minutes being includes full details of a large number of tables and figures," pointing out that "the Ministry of Finance will sign what has been drafted in the budget before it was published."
    The President of the Republic Fuad Masum, has ratified the morning of Tuesday, the federal budget for the current year 2015.
    It was the voice of the House of Representatives, in January 29 on the draft federal budget for the current year worth in excess of Al119 trillion dinars and a deficit of about 25 trillion.


    Parliamentary Finance: next week will see the release of the federal budget for all ministries

    Haider Mutlaq al-Kaabi

    19/02/2015 11:14

    Tomorrow Press / Baghdad: detection of the Finance Committee in the House of Representatives member Haider Mutlaq, on Thursday, that the launch of the federal budget for 2015 by the Ministry of Finance to all ministries will be early next week, pointing out that the financial crisis will be overcome in the event of rising global oil prices.

    He said Mutlaq for "tomorrow Press," that "there is a deficit happened in the month of January last for oil sales, which did not provide all employees state salaries," adding that "this month and after the rise in world oil prices provided Iraqi oil exports, all employees of the Iraqi state salaries and ruled the winning difference between salaries and sales. "

    And that "the Iraqi government requires them to sell $ 119 million worth of crude oil per day to clog the employees' salaries," expected "overcome this crisis with cash that the Iraqi government is facing in the coming months."

    Mutlaq said that "the launch of the federal budget for 2015 by the Ministry of Finance to all ministries will be early next week to enable them to exchange."



    Financial Aajl..mash: salaries of self-financing companies exchange next week

    Thu, February 19, 2015 13:47


    The Ministry of Finance announced the start regardless staff self-financing companies in salaries next week.

    According to a ministry statement received by all of Iraq [where] a copy of it, "the implementation of the decision of the Council of Ministers in its last [first Tuesday], and the application of the law of the budget for 2015, regardless staff self-financing companies salaries, the Ministry of Finance has taken all necessary steps to pay those salaries measures start of next week ".

    The Cabinet decided at its first launch on Tuesday and recommendation to the Ministry of Finance to implement it and Establish a special committee to resolve the problems of self-financing companies in earnest and to ensure the rights of the employees of this Acharkat.anthy salaries of self-financing companies


    Iraqi facts: Sunday publication date 2015 budget law

    BAGHDAD / .. Iraqi facts circle, on Thursday, confirmed on Sunday that the next date of publication of the Federal Budget Law for 2015 in the Journal of the facts, noting that the work is underway so far on the formulation and audited in preparation for deployment.

    The general director of the Iraqi facts circle Hussein punitive, told the "eye Iraq News," the number on Sunday from the Iraqi Gazette, will include the publication of the general budget of the Federal Republic of Iraq for the financial year / 2015, all the details of the law, stressing the availability of number last of the Iraqi Gazette , in the approved distribution centers, and a library of justice in the ministry's headquarters.

    He added that the punitive federal budget law requires several days to be drafted and printed in minutes being includes full details of a large number of tables and figures, pointing out that the Ministry of Finance will sign what has been drafted in the budget before it was published.

    It is worth mentioning that the President Fuad Masum, has ratified the morning of Tuesday, the federal budget for the current year 2015.

    It was the voice of the House of Representatives, in January 29 on the draft federal budget for the current year worth in excess of Al119 trillion dinars and a deficit of about 25 [ Trillion ]

    Last edited by chattels; 02-21-2015 at 06:24 AM.

  8. #8

    Re: " The Dinar Daily ", Friday, 20 February 2015


    Iraqi-Kurdish oil deal is slipping away
    Collapse of revenue-sharing deal with Baghdad could have dire financial consequences for Kurdish Regional Government.

    Mohammed A Salih | 19 Feb 2015 12:09 GMT | War & Conflict, Politics, Middle East, Iraq

    Erbil - A deal on oil exports and revenue sharing between Iraq's government and the Kurdish Regional Government (KRG) appears to be in tatters as both sides signal their reluctance to uphold it prompting the Kurdistan government to seek alternative ways of monetising its oil.

    At the currently lower oil prices, any severing of the deal can, at least in the short run, affect both sides' war efforts against the Islamic State of Iraq and the Levant (ISIL) and further fragment Iraq, analysts say.

    The deal, signed last December, essentially amounted to a cash for oil exchange: The Kurds committed to handing over 550,000 barrels of oil per day from areas under their control to Iraq's national oil marketing entity known as SOMO.

    In return, the federal government in Baghdad agreed to pay Kurds 17 percent of Iraq's national budget. That meant, after deducting certain expenses for common national purposes, the KRG would get around $1bn per month from Iraq's budget, estimated at about $105bn.

    In late January, the deal was incorporated into Iraq's national budget law for 2015.

    On Monday, KRG's Prime Minister Nechirvan Barzani threatened to withheld oil exports without getting KRG's share. "If they don't send the budget, we won't send oil," Barzani said.

    But according to several sources speaking to Al Jazeera, the KRG has not been able to fulfil the target level of 550,000 barrels per day. Although Kurdish officials say this was due to technical difficulties, critics argue otherwise.

    "There is enough production capacity within Kurdistan whether from the originally KRG-controlled fields as well as the Kirkuk fields," said Luay al-Khateeb, the executive director of the London-based Iraq Energy Institute who has also advised the Iraqi parliament on energy policy.

    "But Kurdish authorities are very interested to keep enough margin of production for export to pay the IOCs [international oil companies] investing in the north [in Kurdistan] as well as allocating enough production to meet local consumption and this has reduced the share agreed with Baghdad."

    The Kurdish government has grappled with a deep financial crisis since the beginning of 2014 when the then Iraqi Prime Minister Nouri al-Maliki cut its share of the national budget.

    To provide the salaries of employees in its vast civil service, the KRG increased independent oil sales that it had already started through Turkey. It also borrowed around $3bn from international firms operating in Kurdistan particularly those in the energy sector, said Dilshad Shaban, a member of the energy committee at Iraqi Kurdistan's parliament.

    Of the nearly 500,000 barrels its produces per day, the KRG has withheld at least an average of 150,000 barrels per day from SOMO in a bid to pay those international firms, multiple Kurdish sources said. Around 150,000 additional barrels are used for domestic consumption.

    Kurdish officials also said that since the beginning of February, the KRG has only pumped around 150,000 barrels per day from Kirkuk fields which has been under Kurdish control since ISIL's emergence last June.

    The budget law mandates that the KRG provide 250,000 barrels of oil on a daily basis from the three provinces under its jurisdiction, and 300,000 barrels from oil fields in Kirkuk province that is now under the Kurds' de-facto control.

    But it does not clearly address the issue of a time frame for calculation purposes.

    Barzani recently said due to fluctuations in output caused by technical difficulties, the Iraqi government should not measure his government's commitment to the deal by calculating the amount of oil the KRG provides on a daily basis.

    The Iraqi government, Barzani suggested, should rather take an average of KRG's oil deliveries within a three-month period and expressed optimism the Kurds can meet the target that way.

    On Thursday, Barzani met with Turkish president and prime minister in Ankara to discuss energy matters. The Kurdish prime minister's visit to Ankara and his previous statements that the central government in Baghdad is "bankrupt" are seen as signs that KRG might resume its independent oil sales through a pipeline it has built with the help of Turkey in recent years.

    "The prime minister's visit to Turkey is aimed at talks about independent oil sales so that the Kurdistan Region can overcome the financial crisis," said MP Shaban, who is also a member of Barzani's Kurdistan Democratic Party. "If Baghdad does not commit to the agreement, then KRG will opt for independent oil sales."

    It is not clear yet if the KRG would go as far as including Kirkuk's oil in its exports in the event that the deal with Baghdad collapses and the Kurds embark on extensive independent oil sales.

    Many expect the Kurdish government will have a hard time in the coming months to make ends meet as its coffers are almost empty.

    The government has often come under criticism for not carrying out reforms to diversify and better regulate its economy and the current situation might further compound the situation.

    The KRG is already behind schedule in paying its civil servants and while March is approaching, it has not yet fully paid its employees for December.

    "It's a triple whammy crisis [for KRG]," said Shwan Zulal, managing director of Kurdistan focused consultancy Carduchi firm. "You have Baghdad not paying you, oil prices crashing and you have a war with ISIL. It's difficult even if it had a plan, or if it had contingency funds, or had economic robustness, [then] the KRG would have probably withstood it much better."

    Some analysts and officials who spoke to Al Jazeera suggested that one reason why Baghdad has not been willing to fulfil its side of the agreement might be that Kurdish contribution to the Iraqi budget is significantly below what it is entitled to receive.

    While Kurdish officials admit that "KRG is committed to the agreement with Baghdad and wants it to work", some, however, accuse Baghdad of double standards in distributing the national budget.

    The Baghdad government, say Kurdish officials, has withheld KRG's funds for most of the past year, but it has paid civil servants in the rest of the country.

    "Why does Baghdad pay other provinces even those under ISIL's control but it refuses to pay KRG's budget?" asked Shaban, the Kurdish MP.

    But even as the distrust between Baghdad and the KRG has deepened, some believe the deal is not beyond redemption yet.

    Both sides say they need to cooperate in the fight against ISIL and oil should not hamper that.

    Aziz Alwan, a member of the Iraqi parliament, believes the federal government should accept the idea to calculate the KRG oil output in three-month blocks and not on a daily basis.

    "There is a weakness in commitment to the deal but not a total collapse yet," said Alwan, also a member of the Iraqi National Alliance of which Iraqi Prime Minister Haidar al-Abbadi is a member as well. "There is still some good will left and attempts will be made to resolve the matter."




    UN and US to Act as Mediators in Baghdad – Erbil Negotiations

    KRG agree to participate in new Iraqi cabinet if the UN and US mediate

    Basnews | Shwan Barzinji
    19.02.2015 17:41

    Iraqi PM Abadi with KRG Prime Minister Barzani

    The United Nations (UN) and United States (US) are expected to mediate negotiations between the Kurdistan Regional Government (KRG) and the Iraqi federal government.

    Kurdish MP in Baghdad Ahmed Haji Rashid told BasNews that after delegations from Erbil and Baghdad recently failed to reach an agreement, negotiations will restart.

    “Another attempt at negotiation is expected to take place between the KRG and Iraqi federal government with third party mediators,” said Rashid.

    During the formation of the new Iraqi cabinet, the KRG agreed to take part at the last moment providing the UN and US act as mediators. They will once more sit down with the two governments.

    KRG delegates led by Prime Minister Nechirvan Barzani visited Baghdad on February 15th, but returned without reaching agreements on oil exports, the Kurdistan Region budget or KRG employees’ salaries.



    Prime Minister Nechirvan Barzani: ‘The KRG is committed to this agreement with Baghdad and we want it to work.'

    Kurdistan Region Prime Minister Nechirvan Barzani, who recently returned from Dubai where he attended a Government Summit, spoke in a wide ranging interview with Rudaw about the visit, an agreement with Baghdad on oil and budget cooperation, the war with ISIS and Erbil’s support for the Kurdish struggle in Syia. Here is the full transcript of his comments:

    Rudaw: You were recently in Dubai to attend the Government Summit that discussed the United Arab Emirates’ vision for the next 50 years. What can the Kurds learn from such a summit?

    Nechirvan Barzani: We attended the summit at the invitation of the ruler of Dubai, Sheikh Mohammed bin Rashid Al Maktoum. Undoubtedly, for us in the Kurdistan Region it was an opportunity to learn from the experience of these countries. They have had more or less similar experiences to ours in the past and they have progressed in many aspects. Members of my cabinet and I attended the different panels of the summit and I am hoping that we could emulate the positive aspects of their progress in Kurdistan. On the sidelines of the summit we had formal political meetings with UAE officials, including President Sheikh Zayed, Sheikh Mohammed bin Rashid Al Maktoum and the foreign minister, with whom we discussed the current situation of Iraq and the Kurdistan Region. We have old and solid relations between the Kurdistan Region and UAE. We have sizeable trade ties and the UAE is investing in Kurdistan. Trade between Kurdistan and UAE were part of our discussions with them.

    Rudaw: What new things did you hear from the UAE officials, especially after their government spokesman said that the Kurdistan Region is of importance to the UAE?

    I felt that the UAE is willing to assist the Kurdistan Region in every aspect and they are greatly invested in the Kurdistan Region.

    Nechirvan Barzani: There is genuine will in the UAE to assist us, some directly and some through Baghdad. I felt that the UAE is willing to assist the Kurdistan Region in every aspect and they are greatly invested in the Kurdistan Region.

    Rudaw: At the summit, UAE officials spoke of plans for the next 50 years and said that within a few years they would want only 6 percent of their economy reliant on oil. Is there something the Kurdistan Region can learn from this vision?

    Nechirvan Barzani: The Kurdistan Region does not have a history of industry and we started such a vision only very recently. And indeed, relying fully on oil is a dangerous thing. It is important to use the oil to build other economic infrastructure, because with the small budget that comes from Baghdad or elsewhere you cannot expect to solve all the problems of a destroyed country. Therefore, it is essential to use oil revenues to build a kind of economy that will not rely on oil. The UAE, which launched this kind of policy, also used to fully rely on oil. But now, for them it is only 30-40 percent on oil and the rest counts on trade, services, tourism. This could be a model which we can use too in the future. But we are only in the beginning and we have just started building our oil industry and infrastructure.

    Rudaw: Why do Arab and Gulf countries attach such importance to the Kurdistan Region?

    Nechirvan Barzani: They would like to treat all of Iraq the same way, but in the meantime they are aware that in the past years Kurdistan has been a factor of stability in the region. They very well understand that since 2003 the Kurdistan Region has tried rationally and calmly to create stability in Iraq and the region and it is on this basis that they want to maintain good relations with Kurdistan. It is in the meantime in the Kurdistan Region’s interest to have good relations with these countries.

    Rudaw: Why does the Kurdistan Region not have official representation in the UAE?

    Nechirvan Barzani: We have certainly been negligent as the Kurdistan Regional Government in that regard, and most of the KRG affairs in the UAE are conducted through the private sector. But we will take this issue into account and we will appoint a trade attachÚ in the UAE.

    Rudaw: For its budget the Kurdistan Region relies on oil and the share that comes from Baghdad, and there seems to be some hurdles in the Erbil-Baghdad agreement. What exactly are the issues and why is the money not coming from Baghdad?

    Nechirvan Barzani: I believe that there are no serious issues between us and Baghdad, and that Baghdad is only trying to create problems. Let me tell you this: we went to Baghdad, signed an agreement with them and after our return we continued to give them 150,00 barrels of oil per day and until the end of 2014 we remained committed to that agreement. In the beginning of 2015 our agreement with Baghdad was that we would receive 300,000 barrels of oil from them and plus 250,000 barrels of Kurdish oil, to export 550,000 barrels that we would transport hand over at the Ceyhan port, and thus contribute to Iraq’s budget. But in the first two weeks they began to say that we had not done our part of the agreement. We tell them that they cannot do the counting on a daily basis and that they should look at the total to see if we have remained loyal to the commitment or not. We may export 100,000 barrels one day and 250,000 another day. It is only a technical issue and nothing political. But unfortunately they do not take this into account and keep saying that the Kurdistan Region does not play its part in Iraq’s budget. But I told them frankly in Baghdad that we can only do what we have agreed on. At the end of 2014 we borrowed a lot of money from private companies in order to pay the salaries of our civil servants and we are now obliged to pay back that loan. We have no other choice.

    They very well understand that since 2003 the Kurdistan Region has tried rationally and calmly to create stability in Iraq and the region and it is on this basis that they want to maintain good relations with Kurdistan.

    Rudaw: But the KRG is able to export 400,000 barrels of oil per day.

    Nechirvan Barzani: Yes, it is.

    Rudaw: Then why not give Baghdad its share of 250,000 and end their complaints?

    Nechirvan Barzani: When Adel Abdul-Mehdi (Iraq’s oil minister) came to Erbil we gave them an annual export schedule and it showed by the end of the year that we were committed to the agreement of 550,000 barrels per day. But the truth is that Iraq has no money these days. Iraq lives in severe financial crisis.

    Rudaw: What has happened to Iraq’s money?

    Nechirvan Barzani: Nobody knows where it has gone. They themselves should know where it has gone. By the end of 2013 Iraq had around $18 billion in the Development Finance Institution (DFI), but now it doesn’t even have $1 billion, and the fall in oil prices has worsened the crisis. I suggested to Baghdad that if they have trust issues with the KRG, then we should do our accounting every three months and see if we are committed or not. But from the first day and first week they began to say that we hadn’t done this or that and therefore they will not send our budget. I sincerely believe that economically this makes no sense at all.

    Rudaw: Did you send this suggestion to Baghdad?

    Nechirvan Barzani: Yes, we did through Dr. Roj Shawais.

    Rudaw: What was Baghdad’s response?

    Nechirvan Barzani: I will visit Baghdad myself. The KRG is committed to this agreement with Baghdad and we want it to work. This agreement is in the best interest of Baghdad and the Kurdistan Region and all of our efforts will be to ensure it is implemented. A major part of our talks with Prime Minister Haider al-Abadi will be on this very issue.

    Rudaw: It is said that all the visits to Baghdad show the KRG’s weak position, and that is why Abadi doesn’t bother to visit Erbil. Are you visiting Baghdad out of desperation?

    Nechirvan Barzani: It does not really matter who visits who. What is important is for things to get done. He is the prime minister of Iraq too. To me personally, it is not important who visits who.

    Rudaw: Is it important to you that Kurdistan’s budget should come on time?

    Nechirvan Barzani: Yes, it is important that all the issues are resolved, the budget gets here and we get out of the situation we are in. We are ready to visit Baghdad every single day.

    Rudaw: It is said that the KRG has borrowed $17 billion. Is that not a big risk to the Kurdistan Region?

    Nechirvan Barzani: No, it is not to that extent. Baghdad owes the KRG 16 trillion Iraqi Dinars that was supposed to have been paid by the end of 2014, which did not happen. So to pay our civil servants’ salaries we had to borrow money. How did we do this? We have given the companies guarantees that we will pay them back in oil and now we give the remainder of our oil to these companies in order to honor our agreement with them.

    Rudaw: Oil prices have slightly risen in recent days. Would this have any impact on the Erbil-Baghdad agreement?

    Nechirvan Barzani: Iraq’s budget relies 95 percent on oil and, therefore, without any doubt the rise or fall in oil prices would have a big effect, especially on Iraq. Iraq hasn’t been able to extricate itself from this reality and wouldn’t be able to do so in a year or two or even 10 years. It requires long-term planning and Iraq doesn’t have any such plans. This was neither done during the former regime, nor was there a chance after regime change for Iraq to draw some strategic plans. The change in oil prices would affect any country, including Russia and Iran. Those countries have learned to cope with and adapt to falling oil prices, but a country like Iraq benefits and loses a great deal from any change to oil prices.

    I suggested to Baghdad that if they have trust issues with the KRG, then we should do our accounting every three months and see if we are committed or not.

    Rudaw: Let’s switch to the topic of the Islamic State (ISIS). How dangerous is ISIS to the Kurdistan Region still?

    Nechirvan Barzani: At the start the ISIS war was a big shock to the Kurdistan Region. In the beginning all political parties in the Kurdistan Region agreed that we should not be embroiled in the ISIS war and that is the policy we pursued until the minute ISIS attacked the Kurdistan Region. But that policy is over and you see today that on all fronts the Peshmerga, police, security and volunteer forces are fully engaged in the war and they have the initiative. If it weren’t for their bravery and resistance the situation in the Kurdistan Region would have been different today. Their loyalty and bravery put a halt to ISIS, but ISIS is constantly looking to find any weak points whence it may attack the Peshmerga forces. What ISIS can do today is inflict harm. They can no longer attack and occupy a place. I believe that the only force that could stand up to ISIS on the ground and deal it a heavy blow was the Peshmerga. You have been to the frontlines yourself and seen how much the Peshmerga have achieved. These are vast territories -- Shingal, Makhmour, Gwer, Jalawla, Kirkuk.

    Rudaw: French President Francios Hollande received two female commanders of the Peoples Protection Units (YPG) in Paris. What is your position on a powerful country like France receiving a Kurdish force from Rojava?

    Nechirvan Barzani: We are very pleased when any Kurdish force is welcomed that way and we support the Kurdish struggle in Syria. Our only word to them is: be united and stay together and let others work with you. There is some misconception here, especially towards the Kurdistan Democratic Party, which I should like to clarify: it is said that the KDP is against those forces, but on the contrary, when Kobane was under attack we all worked together and the Kurdistan Region president did his best to convince the Americans and Turkey to allow our forces to go and help Kobane, which we did. Today, our policy and sentiment remains the same. Our position as the government, as KDP and all other Kurdish parties is absolute support for the struggle of the Kurdish forces in Rojava. We are pleased by and support any of their political moves and military success.

    Last edited by chattels; 02-21-2015 at 06:26 AM.

  9. #9

    Re: " The Dinar Daily ", Friday, 20 February 2015












  10. #10

    Re: " The Dinar Daily ", Friday, 20 February 2015

    Member of the parliamentary Finance: Central Bank qualify the deletion of zeros from currency

    [Baghdad-where] Announced the parliamentary finance committee member Masood Haider, Friday, for the central bank kept the deletion of zeros from the Iraqi currency.

    Said Haider told all of Iraq [where], "it was a lot of studies on the subject of deletion of zeros from the currency," adding that "the Central Bank has reservations about this thread a little bit, and we did not Nstda central bank director was not met, done to discuss this matter, as well as other officials in the bank. "

    He added that "the process of deleting the zeros need to be in-depth study, because they greatly affect the Iraqi currency and the price of the Iraqi market and on the Iraqi economy in general."

    Haider said that "the cost associated with the process of removing the zeros and the type of currency that can be printed and displayed in the market and the process of withdrawal, all the things you need to take some time."

    He pointed to "the need to conduct a study regarding the deletion of zeros from the currency, by the legislative and executive branches and with the participation of specialists in the Iraqi Board of currency and the economy."

    The Finance Committee member Jabbar al-Abadi, said to [where], on the sixth of February, that "the project to delete the zeros were traded within the Finance Committee," adding that "the central bank refuses to subject the fact that time is not right now," he said. "We the Finance Committee with the deletion of zeros is subject to many positives reflected on the economic reality. "

    He economist Jamil Antoine said earlier that the deletion of zeros from the currency is a restructuring of the coin, and to alleviate the large digital accounts burden treasurers, and alleviate the burden of accountants in counting the transfer of numbers, "but he pointed out that" this is not the time to replace the currency, and that the lack of security and economic stability in Albulad.anthy 2

    Last edited by pinkadonai1; 02-20-2015 at 11:05 AM.

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