" The Dinar Daily ", Saturday, 28 February 2015
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    " The Dinar Daily ", Saturday, 28 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 ", Saturday, 28 February 2015

    Reserved for Budget Status News

    Query : Does the payment of money to the Kurds two days ago tell us that the budget is funded / implemented, etc ? - chattels
    Last edited by chattels; 02-28-2015 at 10:04 AM.

  3. #3

    Re: " The Dinar Daily ", Saturday, 28 February 2015

    Reserved for National Reconciliation I

  4. #4

    Re: " The Dinar Daily ", Saturday, 28 February 2015

    Reserved for National Reconciliation II

  5. #5

    Re: " The Dinar Daily ", Saturday, 28 February 2015

    Reserved for National Guard, Justice and Accountability

    Parliamentary Security begins next week to prepare a report of the National Guard Law


    BAGHDAD / Center Brief for the Iraqi Media Network (IMN) - Commission on Security and Defence parliamentary said, it will begin next week to prepare a draft of the National Guard who arrived at the Presidency of the Council of Representatives yesterday from the government after completing its scrutiny of the Council of State Law Report discussions . The committee member said Iskandar, Tut's (IMN) , said that "for security and defense committee will hold a meeting next Sunday to start studying the project of the National Guard Law and listen to comments from members of the committee working on the numbers of the Commission's recommendations as soon as possible and submit it to the Presidency of the Council to start by reading the project read the first and second . " And berries, adding that "the most prominent key points in the law by almost a consensus of the political parties within the Commission which relates to command and control of the National Guard, which is in command of military operations in addition to the reinforcement which is less possibility of the army and the best of the local police . " The Deputy Chairman of the Iraqi Parliament Iaram Sheikh Mohammed, yesterday the arrival of a project of the National Guard Law to the Presidency of the Council formally by the Council of Ministers . A statement by the Office of the Deputy Speaker of Parliament, the National Guard functions of the fight against terrorism and the armed groups and the sixth
    paragraph of Article (4) These include the military power of the administrative chief of staff of the department stores and armament and military operations and intelligence its own .

    From: Haider Al-Tamimi



    Khandan - announced Nahida Daini Member of Parliament for the mass of the Iraqi Forces Union, Prime Minister Haider al-Abadi will attend next Monday to the House of Representatives his request to discuss the demands presented to him from the coalition "Union of Forces" and "national" and to inform the Parliament on the developments of the security situation in the country. and Daini said, "The coalition forces and the National Union decided to choose the number of deputies to attend the host Abadi session to put demands again it inside Parliament and find out what are the guarantees to be provided by Abadi to implement those demands." She Daini told "Anatolia", that "the decision to end the boycott coalitions of the meetings of the House of Representatives will depend on the answers Abadi Ttminach as well as the guarantees to be provided, especially in the security aspect of the inventory of weapons, however, the state. " and included the demands made ​​by the Sunni blocs Prime Minister's commitment to implementing document political agreement with all of its terms, and the reformulation of the National Guard law to ensure the absorption of tribal fighters and a commitment to arm the tribes and provide support as soon as possible, and a commitment to providing criminals and unruly to justice regardless of their political cover, in addition to the abolition of the law of accountability, justice and turn it into a judicial file. suspended Sunni political blocs to attend the meetings of the House of Representatives after exposure Sunni deputy attempted kidnapping at the hands of an armed group evacuated killed his uncle and 9 of his companions, north of Baghdad.



    National and Kurdistan strongly reject the abolition of the Justice and Accountability

    facing a demand to solve the accountability and justice categorically from the Kurdish bloc parliamentary National Alliance, especially after monitoring the Baathists who commit crimes with "Daash" gangs while Deputy for the National Bloc revealed that the mass and the Union forces towards the end a boycott of parliament sessions this week.
    He expressed a member of the Coalition Kurdistan, Mohsen al-Sadoun rejected the absolute mass of demand for mass Forces Union dissolve the AJC and convert the file to the judiciary, noting in a statement (Center Brief for the Iraqi Media Network) that security events last significantly influenced the attitudes of the parliamentary blocs and made ​​it change its view on the law and its application After monitoring the number of elements of the Baath Party in the ranks Daash gangs are killing innocent civilians.
    The transfer (Center Brief for the Iraqi Media Network) for the National Alliance member Samira al-Moussawi as saying: that the prime minister Haider al-Abadi carried out demands that fall within the competence listed in the paper the political agreement, claim Forces Union to refrain from pressing for the implementation of other demands are rejected by the National Alliance.
    "But the insistence of labor union to demand the abolition of the accountability and justice law is illogical and is contrary to the security situation in the country.
    MP for the National Bloc olive Hussein, revealed that the masses and the Union of Forces have a trend to end boycott the parliament sessions this week.
    She's (Center Brief for the Iraqi Media Network): The National Bloc announced its support of the federal government, headed by Haider al-Abadi, and we can not work to weaken, and described Hussein, not to attend the meetings that he was not entitled political boycott, but rather a sort of protest to the presence of weapons outside the control of the security services and our goal is to pressure the government to work on the inventory of weapons, however, security forces ╗.

    Last edited by chattels; 02-28-2015 at 07:38 PM.

  6. #6

    Re: " The Dinar Daily ", Saturday, 28 February 2015

    Reserved for oil and gas

    Badr bloc's: the oil agreement between Arbil and Baghdad was temporarily


    Revealed MP Badr arrows Moses bloc on Thursday that the differences between the Governments of Kurdistan and the federal and especially oil, are still continuing despite the formation of the new government. Moses In the press her with "direction Press" confirmed that the Arbil did not fulfill their obligations with Baghdad over oil deal being was temporary and subject to many variables, according to parties' commitment to the terms of the Convention, noting that the recent agreement to ensure the export of Kurdistan 250 000 barrels per day from the fields and for two months in order to Kurds pay the employees' salaries.

    He added that the federal government pass today difficult circumstances because of the large fiscal deficit in Mozantha as well as the fierce battle being waged against the hardest criminal gangs all these things pushed Kurdistan to exploit and raise the proportion of their demands through pressure on the federal government, noting that the Kurdish officials acting on Iraq booty and trying to get a bigger financial gain from it.

    It is said that the Kurdistan Alliance MP Ares Abdullah revealed that the payment of the rights of the oil companies operating in Iraqi Kurdistan problem by the federal government is the main obstacle to the completion of the oil agreement between Baghdad and Erbil. Abdullah said during the interview, "the direction of the Press" that the government of Kurdistan be asked to pay dues of these companies in 2014 and companies operating there or let the Kurdistan sell certain quantities of oil to these companies to pay what Bzmtha of debt, noting that the two sides have yet to agree on a mechanism. Rahim Ali al-Lami



    Kurdistan region endorses the political and scientific program to remove obstacles to the implementation of the oil deal with Baghdad


    KRG announced on Thursday endorsement of the scientific and political program to remove obstacles to the implementation of the oil agreement with Baghdad. A statement by the Kurdistan Democratic Party that "the region's president, Massoud Barzani met on Thursday evening at the headquarters of the province with the main political forces in Kurdistan to discuss several economic and political issues, security and discuss the current situation in Iraq and the Kurdistan regional government and the financial crisis."

    The complaint came out of the meeting endorsed the seven-point strategy, supported by Kurdish forces, according to the statement reads in part: First, the meeting expressed its gratitude to the spirit of the unlimited redemption and valor of the Peshmerga on the battlefield, and the high values ​​of steadfastness and heroism and promise a source of pride for the Kurds and Kurdistan and Democrats in the region and the world.

    Second, emphasis was placed on the unity of the Kurdish political forces in Iraq and the Kurdistan region and the row to break a political and military equation in the Kurdistan region, and the achievement of political, administrative and military victories and progress towards final victory.

    Third, in order to deliver the unity of political forces of Kurdistan to the top of political trust, meeting recommended the granting of the parties involved in the cabin eighth of the Government of the county change, the Islamic Union and the Islamic Group] positions and administrative seats and quotas in the federal, regional and provincial government, according to their merits election.

    Fourth: see the people and the government of Kurdistan that the province has the right, without doubt, the extraction and sale of oil in accordance with Article 112 and 115 of the permanent Iraqi constitution within the legal process and rules and law, and the commitment of both sides General Budget Law for Iraq Fed for the year 2015 to ensure that the economy of the region, who addresses the fundamental problem of the budget and the salaries of citizens Kurdistan and the Kurdistan Regional Government to implement all the clauses of the agreement signed with the government in Baghdad, and that the Baghdad government implement those Alnpod Also, the artistic and technically differences can be addressed through dialogue and discussions. "

    The statement pointed out that "In this area was approved on the political and scientific program in order to remove obstacles to the implementation of the Convention."

    Fifth Meeting House of Representatives and the Iraqi government and the Alliance of Shiite and Sunni powers demanding that Aajalo of political disputes and technical problems in all circumstances an obstacle to the citizens of the Kurdistan salaries, as well as the support of the Kurdistan Peshmerga and insurance paid just like the army and the rest of the Iraqi armed forces.

    Sixth: to be for the presidency of the region and the government and the Parliament of Kurdistan diplomat and an international program to safeguard the largest of countries and international centers of political support, as well as to get the support of the Peshmerga in the logistics field and provide it with heavy weapons.

    Seventh: The meeting emphasized his support for the Kurdistan Regional Government, in the hope that the government will continue in its efforts to address the problem of the budget and salaries.

    He assembled according to the statement about "hope to be able to and in accordance with the tight program and greater capacity, to achieve victory Strategy on Daash as soon as possible, and that these become the basis of the root treatment of all political, economic and social problems in Iraq and the Kurdistan region, including the implementation of Article 140 of the Iraqi Constitution victories." it's over



    Masum discusses with Kurdish blocs to overcome the obstacles in front of the oil agreement

    26/02/2015 22:59

    BAGHDAD / Nina / President Fuad Masum discussed on Thursday with the heads of Kurdish blocs in the House of Representatives in relations between the federal government and the Kurdistan Regional Government and ways of overcoming obstacles to the implementation of the terms of the oil agreement signed between the two parties.

    He stressed in a statement the importance that the two sides resort to fraternal constructive dialogue as a way to reach understandings and satisfactory solutions, stressing the need of the two parties to each other, especially since there are challenges and common interests that require the cooperation of the two parties.

    Heads of blocs stressed the importance of the role of President of the Republic in the revitalization of the bonds of relationships and the convergence of views between Baghdad and Erbil, the best interests of all the Iraqi people in all their diversity.

    It was decided, at the conclusion of the meeting, the continuation of the meetings between the President and the heads of Kurdish blocs and the ministers of the Kurds in Baghdad, for the consolidation of cooperation and coordination in order to find realistic solutions to the existing problems.



    Kurdistan: Kurdish ministerial committee in Baghdad address any disagreement oil agreement

    February 27, 2015

    Friday February 27, 2015 08:55

    Twilight News /
    said the Kurdistan Alliance bloc member, on Friday, the committee formed by the province, which includes the Kurdish ministers in the federal government will address any defect in the application gets the oil agreement with Baghdad.

    Said Najiba Najib, in an interview with “Twilight News”, “The Kurdistan Region is committed to applying the oil agreement with the federal government items and there is no tendency to breach the terms of the agreement, did not issue any position from the region indicate that he may abandon the oil agreement.”
    Najib added that “the oil agreement in the interest of the province and the federal government,” pointing out that “the region’s commitment to the agreement prompted him to form a committee of ministers of the Kurds in the federal government that would follow up and develop treatments for any controversial points stand out in the application of the oil agreement.”
    The agreement, which issued by the Iraqi Council of Ministers on the second of December last that the Kurdistan Region to deliver at least 250 thousand barrels of oil a day to the federal government for the purpose of export, the export of 300 thousand barrels per day by the federal government of the province of Kirkuk fields through the pipeline oil in Kurdistan

    Last edited by chattels; 03-01-2015 at 10:11 AM.

  7. #7

    Re: " The Dinar Daily ", Saturday, 28 February 2015

    Siege of Mosul

    With eye on Mosul, coalition advisers train peshmerga

    On a hillside in northern Kurdistan, peshmerga soldiers load bullets into magazines. A Dutch commander from the coalition forces watches as the peshmerga perform drills — from combat medical procedures and urban warfare training to live fire field exercises.

    Summary⎙ Print The international coalition against the Islamic State has provided weeks of training to prepare peshmerga fighters for a ground offensive to regain control of Mosul.

    Author Kaylyn HlavatyPosted February 27, 2015

    While the bombardment by US and allied forces have helped the Iraqi and Kurdish forces regain territory controlled by the Islamic State (IS), ground support is needed to gain control of territories such as Mosul, Salahuddin, Anbar and Diyala. In an effort to scale up the offensive, the peshmerga are receiving rigorous training from coalition military advisers. Troops from Holland, Germany, the United Kingdom and Italy have devoted four weeks to training and advising a special platoon of the peshmerga fighters.

    Sending in a unit of peshmerga forces into one of Iraq's chaotic cities invaded by IS requires precision and strategy, as well as field skills appropriate to the urban terrain. Obstacles such as narrow streets, snipers hiding in buildings and low-hanging power lines contribute to the difficulty of fighting in an urban environment. Forty peshmerga recruits received intensive training to improve their responses in urban terrain.

    Michael Knights, a fellow at the Washington Institute for Near East Policy, told Al-Monitor that urban warfare is relatively new for the peshmerga, saying, “They're typically mountain fighters that control vehicle checkpoints, but now they are faced with a greater offensive operation that combines artillery, motorized infantry and air power.”


    Kurdish peshmerga forces sit on a hillside sharing a meal between exercises, next to an oil drum with bullet holes from precision shooting drills, Feb. 20, 2015.

    A Dutch translator for the coalition forces who asked to remain anonymous because of safety concerns told Al-Monitor: “If we can teach the peshmerga what we learn in Dutch basic training, it will be a massive advantage. All these small details and improvements they learn here will have big consequences in the battlefield. Especially how to move and shoot, everything really.”

    In June 2014, IS captured Mosul, Iraq's second-largest city, after at least 30,000 Iraqi troops abandoned their posts and fled on foot to nearby Erbil. According to the International Organization for Migration, as many as 500,000 Iraqis have since fled their homes. An effort to liberate Mosul is planned for the coming months, according to a statement by Pentagon officials, but until then, the Kurds must wait and continue to prepare.

    Knights told Al-Monitor that Mosul is one of the most economically significant cities that IS controls.

    “Raqqa in Syria is a good basis for IS, but Mosul is the greatest achievement that it can boast about. So taking back Mosul, at least within the war in Iraq, is like taking the enemy's capital. Maybe if you take Mosul first, it makes taking other cities easier because, as Iraqis put it, 'You cut off the head of the snake.'”

    Bakhtiar, who asked that his last name be withheld, is a peshmerga private who has been trained by the Dutch forces. He previously lived in the Netherlands before returning to his home in the semi-autonomous region of Iraqi Kurdistan to fight IS. So far, he has fought in the liberation of Jalawla, Saadia, Naqshbandi and Kobashi. While Bakhtiar and other recruits have field experience, he says their skills have improved since the training started.

    “Some things we did not know, but we know them now, and we are definitely going to use them. How to attack, how to deal with roadside [improvised explosive devices], how to move back when the enemy is too strong. And not just going to the battlefields without preparations,” Bakhtiar told Al-Monitor.

    Dutch military trainer Dustin, who asked that only his first name be used, says the ability to perform tactical and shooting maneuvers is an important skill to have as the peshmerga go into the towns taken by IS. In a valley surrounded by hills, the Dutch, German and English forces train the recruits in a three-flank attack. His fellow trainer Joey is perched on top of the hill watching the drill with binoculars. Oil drums peppered with bullet holes are evidence of the precision shooting training.


    Kurdish peshmerga perform tactical maneuvers under the supervision of Dutch, German and English military trainers, Feb. 20, 2015.

    “This is something that are basic military skills, how to move under fire. This is a drill on how to neutralize the enemy. They attack over the three flanks in this valley to have optimal protection,” Dustin told Al-Monitor.

    Addditional training is given on how to bring the wounded from the battlefield. Simulations are conducted to teach the recruits to care for their soldiers in the case of an emergency. Pointing to a group of soldiers, Dustin explains the scene below.

    “Now someone is wounded. This is part of the scenario, so it is not real. Because we give medical training, when someone gets wounded in the field, they need to be attended to. As you see, now someone is tending to the wounded peshmerga and using basic medical skills to keep the wounded alive,” he explains.

    Recruits range in age from 18 to their late 50s. Their experience rarely goes beyond guarding buildings outside conflict zones. The older recruits have some front-line experience from fighting Iraqi forces in the 1970s and '80s, but often need a refresher course.

    The commander of the Dutch coalition forces in Iraqi Kurdistan explained on condition of anonymity that the recruits are not thrilled about the physical side of training, but are keen to learn and take orders from more experienced military officers. “The added value of the Dutch here is experience in training," he said. "Generally, we can state that the people here are brave and skilled, but trainings like we give them is an unknown phenomenon here. So the experience the Dutch military brings absolutely adds value to the peshmerga.”

    Coalition forces held a graduation ceremony on Jan. 25 for the recruits who took the four-week infantry course and the three-week course in which they learned how to operate assault rifles and anti-tank weapons provided by the German government. Standing in formation at Peshmerga Hall, the recruits listened to a commander from the coalition forces express his gratitude to the fighters and their families.

    “But let’s not forget the people that are not here today. The families that let us use their homes to train how to fight in urban terrain. The shepherds and farmers who were asked to give up their land so we could train over there,” he told the recruits, commending the peshmerga for their dedication and enthusiasm throughout the course.

    “I would again like to express our respect to you, the young peshmerga who are standing in front of us. It is you who are tasked to fight [IS] and defend freedom. It is an honor for all of us to support you in this fight. And I salute you for this.”

    Osie Greenway contributed to this report from Iraq. Photos by Osie Greenway.



    America’s neglected asset in fight for Mosul
    In light of recently announced plans by the Pentagon to coordinate a spring offensive in Mosul, much of the discussion has thus far focused on the training and deployment of a myriad of Iraqi and Kurdish military battalions. There are only whispers about the potential involvement of resistance groups currently operating within the ostensible Iraqi headquarters of the Islamic State (IS).

    Summary⎙ Print The Pentagon recently declared its 2015 plan to liberate Mosul from the Islamic State, an operation that may be effective only if the resistance groups already operating in Mosul are involved.

    Author Ben Decker

    Aaron Balshan Posted February 26, 2015

    Among such groups, the Free Officers Movement quietly assassinated two IS commanders in the city in February. However, Pentagon officials have largely ignored their existence. Ultimately, for any military plans to successfully forge a sustainable governance strategy, let alone a military success in Mosul, it is imperative that such local resistance groups be granted an active role in the operation.

    Mosul’s Sunni community was somewhat welcoming toward IS in the first weeks of June 2014, initially perceiving the group as the Sunni liberators of a city that had been suppressed by a predominantly Shiite military for several years.

    IS was not new to Mosul when it entered the city in 2014. The group, under previous names such as al-Qaeda in Iraq, the Majlis Shura al-Mujahideen and the Islamic State in Iraq, had run criminal enterprises that included protection rackets, extortion and black market smuggling in the city for the last several years. However, its shadowy status in Mosul society had not created enough concern about the group’s ambitions until the implementation of its own version of Sharia in July.

    Shortly thereafter, local resistance groups organized by displaced Ninevah Provincial Gov. Atheel al-Nujaifi under the banner of Kata’ib al-Mosul (Mosul Battalions), began to launch small-scale guerrilla attacks against IS within the city.

    In late August, Mosul Battalion members claimed to have orchestrated a series of daily improvised explosive device and shooting attacks against IS, leading to the death of at least 25 IS militants.

    Shortly thereafter in September, 10 armed factions in Mosul formed the Mosul Liberation Council (MLC). Participating groups included the Free Officers Movement, which, boasting approximately 600 members, quickly became the most prominent resistance group.

    On the whole, Mosul-based resistance has increased significantly since the beginning of 2015; last month, the MLC began publicizing its work through a local public relations campaign called the “Movement to liberate Mosul the dignified.”

    On Jan. 21, the campaign published letters reportedly written by Abu Bakr al-Baghdadi and handed to them by alleged IS defectors, detailing financial strategies.

    Meanwhile, the Free Officers Movement claimed responsibility for a series of attacks: the Feb. 10 burning of a courthouse in the city’s al-Nabi Yunus neighborhood, which reportedly killed over a dozen of IS militants; the Feb. 20 assassination of IS commander Abu Anas al-Hernafa; and the Feb. 22 assassination of IS commander Abu Dajana al-Saudi.

    All in all, the increased local public relations, coupled with a series of attacks, have reportedly led to increased recruitment numbers for the Free Officers Movement and could trigger increasing recruitment in other MLC-aligned groups over the coming months.

    Returning to the US plans to launch a Mosul offensive, Iraqis are skeptical over whether a purported 25,000 Iraqi soldiers and three brigades of Kurdish peshmerga will be able to succeed in the short term.

    Hakim al-Zamili, the head of the Security and Defense Committee in the Iraqi parliament, expressed hesitation over the spring 2015 timetable, claiming that the Iraqi military has yet to receive the advanced weapons and training it needs and without which, according to Zamili, any operation would be “fruitless.”

    Such statements are indicative of a larger divide that has existed between the Iraqi and US militaries since the 2003 invasion. As the United States continues to send trove after trove of light, medium and heavy weaponry, Iraq has and will likely continue to claim that much of it was either not received, or even worse, has disappeared.

    In light of both the US and Iraqi interests in developing a more sustainable governance strategy in a hypothetical post-IS Mosul, stamping out deeply rooted military corruption is critical, as it remains one of the most significant catalysts for the turmoil that the region has experienced over the past eight months.

    Any strategy aimed at forcing IS’ withdrawal from Mosul must take into account every localized civic and government element in the city to effectively convince Mosul residents to renew their trust in both the Iraqi military and the Iraqi government.

    From a tactical standpoint, this means increased cooperation between the international coalition and Iraqi security forces with Mosul-based resistance groups such as the Free Officers Movement.

    While the spring timetable for any such Mosul liberation offensive remains unlikely, by developing a strategy that forces both state and non-state actors to work together, the US military may be able to offer the Iraqis an effective solution to prevent the next security crisis.

    On the whole, any IS withdrawal from Mosul, if and when that actually happens, is unlikely to be the group’s final foray into Ninevah province, and it remains unclear whether the United States will be able to afford the price tag associated with the next conflict.



    Defense Minister, Citizen bloc discuss preprations to liberate Mosul

    Saturday, 28 February 2015 17:38

    Baghdad (AIN) -The chief of the parliament Citizen bloc, Hamid Al-Khudari discussed with the Defense Minister, Khalid Al-Obaidi, the security situation and the victories the security forces have achieved while fighting with IS militants.

    The Defense Minister welcomed today head of Citizen Bloc in addition to other MPs. They conferred about the security developments and the recent security victories achieved by the Iraqi Army in Diyala and Salah il-Din provinces as well as the release of Baghdadi sub-district, said a statement by Defense Ministry.

    The attendees also talked about the readiness of the military to set free Mosul city and pursue IS militants, according to the statement.

    Last edited by chattels; 02-28-2015 at 06:40 PM.

  8. #8

    Re: " The Dinar Daily ", Saturday, 28 February 2015

    Parliament Today

    Parliament session starts, 185 MPs attend

    Saturday, 28 February 2015 12:12 | PDF

    Baghdad (AIN) –The parliament session of Saturday started where 185 MPs have attended it, according to AIN reporter.



    Parliament approves Japanese Loan

    Saturday, 28 February 2015 13:48

    Baghdad (AIN) –Parliament approved two Memorandums of Understanding regarding the Japanese loan presented to Iraq.

    Parliamentary source stated to AIN "Parliament approved the loan during its Saturday session."

    Hashim performs oath as new MP

    Saturday, 28 February 2015 14:59

    Baghdad (AIN) –Ghayda Hashim performed the oath inside parliament during Saturday session as new MP.

    AIN reporter said "The Supreme Federal Court approved her membership."



    Parliament session adjourned to next Monday

    Saturday, 28 February 2015 16:29

    Baghdad (AIN) –Parliament adjourned its session to next Monday.

    Last edited by chattels; 02-28-2015 at 06:38 PM.

  9. #9

    Re: " The Dinar Daily ", Saturday, 28 February 2015

    Iraqi Kurdistan's Texas oil tanker unloads in Israel

    Saturday, 28 February 2015 10:18

    Baghdad (AIN) -An oil tanker from Iraqi Kurdistan that was blocked for months from unloading in Texas by a Baghdad legal challenge has sailed back to the Mediterranean and delivered its cargo to Israel, according to trading sources and ship-tracking data.

    The United Kalvrvta tanker, carrying 1 million barrels of crude from the semi-autonomous region, became embroiled in a legal dispute in Texas last July after the Kurdistan Regional Government (KRG) looked to ramp up independent oil shipments.

    The Iraqi central government challenged the sales, branding them illegal. The KRG protested that independent sales were allowed under Iraq's constitution.

    The tanker spent several months off the coast of Texas after Baghdad tried to have a U.S. court seize the oil. The ship eventually set sail from Texas in late January, shortly after Baghdad and the KRG agreed a temporary deal on oil sales.

    Ship-tracking data this week showed the tanker sailing fully-laden towards the Israeli port of Ashkelon before its satellite transponder was turned off on Feb 22.

    It reappeared on Friday unladen. Several of the oil tankers that have carried Iraqi Kurdistan crude from Turkey's Mediterranean port of Ceyhan have unloaded at Israeli ports, according to ship-tracking data and industry sources.

    The KRG has in the past denied selling oil to Israel, which is not recognized by the vast majority of Arab states, including Iraq.

    A source in the KRG said that all the oil was being delivered to established international trading companies.

    Much of the crude being lifted was sold under prepayment deals last year, the source said, with the Kurds in need of funds after Baghdad cut the region's budget.

    Gulf Keystone Petroleum, a London-listed oil producer in Iraqi Kurdistan, is exploring a potential sale amid lengthy talks with the KRG over delayed payments for oil exports.

    Baghdad has withheld many budget payments to the KRG over the oil sales dispute since last January.


  10. #10

    Re: " The Dinar Daily ", Saturday, 28 February 2015

    ISIS leaders killed in Peshmerga victory in Shingal
    By R█DAW

    ERBIL Kurdsitan Region – Peshmerga forces fought off a furious four-pronged ISIS assault in Shingal on Friday with the help of coalition airstrikes.

    “The militants launched the assault at 9:30 last night,” Peshmerga commander Hasim Sitai told Rudaw. Sitai said the Peshmerga did not suffer any casualties in the hour-long battle.

    Sitai added that two prominent ISIS leaders, Abu Yaqub and Abu Omar, were killed along with several militants and some of the dead bodies were left behind.

    “We are making a solid plan to re-launch an assault on the ISIS in Shinga with the aim of driving them totally out of the area,” Sitai said.


    “The object of war is not to die for your country but to make the other guy die for his.” ― George S. Patton Jr.

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