The Dinar Daily, Thursday April 16, 2015

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The Exchange Rate of Foreign Currency in Economic Feasibility Studies

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

Estimate the shadow price of foreign currency:

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

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

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

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

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

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

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

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

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

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

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

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


The Republic of Iraq – Ministry of Planning

and

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

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

1) the SIGR report…

2) the Gold Article…

3) the IIER report…

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

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

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

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

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

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

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

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

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

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

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

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

We are seeing and hearing that the inflation rate is still climbing and they are pushing to get us our money?? This report is from page 84 of the massive SIGR report.




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

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

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

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

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

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

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

__________________________________________________ ______________

AND

Coins put on the market !!

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

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

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

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

waradana.com

And

CBI is preparing to issue a monetary metal parts

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

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

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

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

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

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

and

Another "FLASHBACK"...

Economists Divided Over Deletion Of Zeros

By Amina al-Dahabi for Al-Monitor.

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

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

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

ARTICLE LINK

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.

https://articles.latimes.com/1991-03-..._kuwaiti-banks


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,
Kevin

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US dollar	USD	1166.000	1164.000
Euro	EUR	1233.511	1232.895
British pound	GBP	1718.451	1717.592
Canadian dollar	CAD	941.918	941.447
Swiss franc	CHF	1194.795	1194.197
Swedish krona	SEK	132.590	132.524
Norwegian krone	NOK	146.586	146.512
Danish krone	DKK	165.193	165.111
Japanese yen	JPY	9.749	9.744
Special Drawing Rights	SDR	1600.463	1599.663
Indicative rates - 16.04.2015

Currency Auctions

Announcement No. (2931)

The opening offers the sale and purchase of foreign currency in the window of the Central Bank of Iraq on15/04/2015 and the results were as follows:

DETAILS	NOTES
Number of banks	19
Number of remittance companies	0
Auction price selling dinar / US$	1166
Auction price buying dinar / US$	-----
Amount sold at auction price (US$)	110,948,963
Amount purchased at Auction price (US$)	-----
Total offers for buying (US$)	110,948,963
Total offers for selling (US$)	-----

Year No. Session Date Market Price Auction Price Volume (000 USD) Cash Remittances and Credits2015 2924 06-Apr 1,166 119,020,000 12,200,000 106,820,0002925 07-Apr 1,166 108,540,000 14,950,000 93,590,0002926 08-Apr 1,166 116,044,000 15,050,000 100,994,0002927 09-Apr 1,166 104,770,000 10,650,000 94,120,00010-Apr NO AUCTION NO AUCTION NO AUCTION NO AUCTION NO AUCTION11-Apr NO AUCTION NO AUCTION NO AUCTION NO AUCTION NO AUCTION2928 12-Apr 1,166 161,241,189 34,200,000 127,041,1892929 13-Apr 1,166 165,852,225 38,475,000 127,377,2252930 14-Apr 1,166 117,789,137 11,800,000 105,989,1372931 15-Apr 1,166 110,948,963 36,500,000 74,448,963

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sczin11- WHO RUNS THE SHOW IN IRAQ? THE RELIGIOUS LEADERS, OF COURSE!

Sadr calls for the non-application of the pricing of electricity without the approval of religious leaders



Called the cleric Moqtada al-Sadr on Thursday to apply the pricing of the new electricity during the summer, with the citizens to pay the new wage without the approval of the religious authorities, and after achieving Parliament with was the cause of the new Baltsairh.Muqtada al-Sadr said in replying to Súal face to him by one of his followers about the decision of the Ministry of Electricity to raise pricing power, saying, "There is a big problems stand without improving electricity in the beloved Iraq, can not make the problem and restrict the issue of wages Valmaznon significantly that rising wages not be the reason for the improvement of electricity at all, and if the government wants to impose its control on this file Vlecon this way harmful to the people. " "And so we recommend that taken into account in the payment of wages, standard of living, public and private, and to be gradually and be after the return of electricity {24} hour, and that the decision to pass the Parliament, and Parliament investigating who was cause by issuing this resolution, and to Aidf a penny from any citizen only after the approval of the religious leaders, and pass this project specialists and outsourcing, and not start work the summer, even if we had to determine {Amperes} do not have high prices, "Mahmar" of the awakening of the people against injustice. " The Ministry of Electricity has decided to impose a new price of electricity in the country, which faced severe criticism and dissatisfaction of the citizens, especially those with limited income, prompting the minister Qasim Fahdawi to clarify that the new rates may Anceft low-income families through support to those who consumed 5 Amperes 24-hour support 82%, while that of consumes 10 supports 75%, and the greater the consumption Say support, noting that the energy problem caused by extravagant and overtaking on the networks, as well as the reluctance of citizens to pay the wages, indicating that the aim of the new rates is a commitment to using energy.

https://translate.googleusercontent.com/translate_c?depth=1&hl=en&rurl=translate.google.com&sandbox=0&sl=ar&tl=en&u=https://www.faceiraq.com/inews.php%3Fid%3D3724030&usg=ALkJrhh-LzatpQkGxoRDuSeoobMIw1cCdA

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sczin11- AND SADR STATES..IF YOU WANT TO DO THIS, THEN YOU MUST DO THE FOLLOWING.....

Sadr criticizes the decision of the Ministry of Electricity and offers ten proposals to the government



Criticized the cleric Moqtada al-Sadr, on Thursday, the Ministry of Electricity's decision to calculate the new price of electric power, believing it to be "harmful to the people," while the ten proposals submitted to the government for the purpose of imposing control over this file.

Mr. al-Sadr said in his reply to a question and response on the declaration of the Ministry of Electricity of new rates for electric energy, said that "there are big problems stand without improving electricity in the beloved Iraq," adding that he "can not solve the problem and restrict the issue of wages."

He said al-Sadr, that "if the government wants to impose its control on this file, Vlecon this way harmful to people, so we recommend Bmayle, first taking into account the standard of living of the public and private sectors in the payment of wages, secondly to have it gradually, thirdly to be after the return of electricity by 24 hours, IV that the decision to parliament, V. passes Parliament investigating who caused the Stockade this decision, VI that does not pay a penny of any citizen only after the approval of the religious authorities, Seventh pass this project specialists and outsourcing, Eighth that not start working the summer, IX if we have to determine Amperes not be high-priced, X. wary of awakening the people against injustice. "

Committee announced that the parliamentary oil and energy, on Thursday (April 16, 2015), the Ministry of Electricity has decided to postpone the application of new rates.

It is noteworthy that the Minister of Electricity Qassim Fahdawi announced, in (April 7, 2015), the Council of Ministers approved a new electricity pricing action does not affect the poor citizen include high consumption owners.

https://translate.googleusercontent.com/translate_c?depth=1&hl=en&rurl=translate.google.com&sandbox=0&sl=ar&tl=en&u=https://www.faceiraq.com/inews.php%3Fid%3D3724012&usg=ALkJrhgAPcPTBHlxRZgVDeMetmjEUyVw9A

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sczin11- WHAT HAPPENED TO THE LAW OF THE PARTIES FROM TUESDAY..THGHT WAS PUSHED TO TODAY? Hmmmm...

Parliament will hold its 29th headed by al-Jubouri, and the presence of 267 deputies Thursday April 16, 2015 12:32 - + Alsumaria News / Baghdad The Council of Representatives, on Thursday, its 29th headed Saleem al-Jubouri and attend the 267 deputies, with parliamentary source that the meeting will end the first reading of the draft anti-terrorism device and the second reading of the bill law of the Federal Supreme Court . The source said in an interview with Alsumaria News , "The House of Representatives held its 29th headed by al-Jubouri, and the presence of 267 deputies," he said, adding that "the meeting include a vote on the first draft amendment to the Law reward trainees in vocational training centers affiliated to the Ministry of Labor and Social Affairs and the Law." " style="border: 0px none; display: block; outline: 0px;"> The source, who asked not to be named, said: "The meeting will see the first reading of the draft anti-terrorism law, and the first reading of the draft cybercrime law, and the first reading of the draft seizure and confiscation of movable and immovable property belonging to the former regime Act, and the first reading of the draft annexation Institute Law justice to the judiciary. " The source added that "the Council will end, during the first reading session for the draft of the General Authority Act to ensure the rights of the regions and governorates not organized in a region, and the second reading of the draft law on ratification of cooperation agreement between the Government of the Republic of Iraq and the Government of the State of Kuwait in the field of Higher Education and Scientific Research Act, and the second reading of the draft law of the tribunal Federal Supreme. " The Presidency of the Council of Representatives decided, earlier on Thursday (April 16, 2015), the postponement of the parliamentary session was held half an hour, attributed the reason to the lack of a quorum for the session is complete. https://translate.googleusercontent.c...mEMTgyEj2eyxGw

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​sczin11- WELL, I HOPE IT IS NOT ANOTHER QUARTER OF A CENTURY BEFORE THEY COME BACK TO IRAQ... SERIOUSLY, LOOKS LIKE MORE PRESSURE TO CLEAN HOUSE, IF YOU ASK ME..


Saudi embassy in Iraq ...!

16/04/2015 09:38 |


Walid Salim
Maybe all the countries in the region intellectual ideology may allow the return of diplomatic relations with Iraq and return their embassies and diplomatic work with him strongly and already returned a lot of them, but Saudi Arabia, or if you will say the Kingdom of Saud because the Saudi decision all sources, however, that the royal family is not a role for organizations or parties or another where political orientation, you will not play Saudi Arabia in any re-normal diplomatic relations with Iraq, and there will not be supported Embassy as the rest of the embassies of the world in Baghdad diplomatic action because the clear goals and objectives are very aware when officials ruled the Kingdom of understanding are subject to the approaches and enable Wahhabism both working Bafattaa Arabia and transporting their venom to the region in general.
As long as the rulers in Iraq in accordance with the ruling of the majority of parliament and political According to the parliamentary system are Shiite component will not Saudi Arabia accepted to open its embassy in Iraq and will remain Visits shuttle and see the places open consecutive embassy will not get anything, what made him a member of the Foreign Relations Committee in the Iraqi Parliament, Mr. Abbas al-Bayati is Eye Logic when he attributed by foreign parliamentary relations, "Saudi Arabia's reluctance to open its embassy to the causes and agendas of political related conflicts regional," stressing that "we extended our hands to everyone, but unfortunately there are those who do not want to interact with the new political order in Iraq because his own identity."
The Saudi newspaper, first revealed on Monday, as the adoption of a new ambassador to Saudi Arabia in Iraq after nearly a quarter-century of the closure of the Saudi embassy in Baghdad, indicating that it works with the rank of a military attaché at the Saudi Embassy in an Arab country. And what he said before also member of the Committee is Mr. Alusi described the Saudi position as bad to accept the open relationship with Iraq and that the position of the rulers of Al Saud depends private agendas and not international diplomatic custom They do not want the rulers of certain spectrum will not do this step as long as some politicians do not hold the reins of power in Baghdad.
Delegation came and went delegation spoke Minister for Foreign Affairs, said King Salman ...... and so the whole air remarks in kink and the catastrophe that the Iraqi Foreign believe that Altakravat by the Al-Saud and think their good and that of the door of international relations, according to diplomatic norms that must be practiced by the Iraqi Foreign welcome But there must be points on the characters and guiding compass proper form and never Ntbgeh that Saudi Arabia will kindly on us and open its embassy, ​​but we have to act on that Iraq is a strong country with no need to get close to this or that country for the openness we must be dealing firmly with all of them especially the Gulf who Ataalon the master Iraq ,, van came Welcome them and that did not come Vale hell because Iraq is very strong and has an impact on the global level we do not need to ignorant and conspirators and disgruntled on Iraq, and I say clearly that Saudi Arabia will not be present diplomatically in Iraq through its embassy as long as the first executive governor in Baghdad, "Safavi refuseniks" We say frankly what the silence of the good things that came back and palatable must talk openly and transparently


https://translate.googleusercontent.c...ADxd-18hWrdiMw

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Zebari: Iraq seeks to issue international bonds worth $ 5 billion

Thursday April 16, 2015 09:43

- +

Alsumaria News / Baghdad Finance Minister Hoshyar Zebari , said Iraq has decided to international bond issue worth five billion dollars and is negotiating the terms. Zebari said a number of reporters in Washington that "Iraq is seeking to issue international bonds worth $ 5 billion, and we are negotiating on it with Citibank, Deutsche Bank," noting that "we have a green light from the government that we need it." Zebari said that "the government is facing a deficit of $ 25 billion in the current year's budget, which amounts to almost $ 100 billion," he said, adding that "Iraq is also considering a request emergency funding ranging from 400 million to $ 700 million from the International Monetary Fund . " " style="border: 0px none; display: block; outline: 0px;"> He added that "Iraq has not made the decision to do so until now," pointing out that "the International Monetary Fund does not mind in the provision of such support but wants the government to do more to reduce public spending." Zebari stressed that "this advice is not a prerequisite, but in fact this is the way to provide these funds." And caused the collapse of oil prices, severe damage to Iraq's budget at a time when the government faces Metzida military spending due to the war against Daash.

https://translate.googleusercontent.c...BNktOvUTJa7vBQ

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Sadrists: Maliki promised by taking out all the detainees in exchange for third term

BAGHDAD - ((eighth day))
Former MP and leader of the Sadrist movement, Prince Kanani, the former Prime Minister Nuri al-Maliki promised by taking out all the detainees Sadrists against the third term for him.
Kanani said in a televised interview briefed him ((eighth day)) that "al-Maliki has given us many positions and vowed to taking out all the detainees in the Sadrist movement against the third term, but refused categorically to the best interests of the country.
He added that each case with at the moment is caused by the previous government, which was headed Aamaliki which destroyed the economic, social and security side. (AA

https://translate.googleusercontent.com/translate_c?depth=1&hl=en&rurl=translate.google.com&sandbox=0&sl=ar&tl=en&u=https://www.faceiraq.com/inews.php%3Fid%3D3723627&usg=ALkJrhgbaAAJzFI2WvjEOxAH7zt0TlysfQ

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sczin11- NOTE..POST DAASH.... "NATIONAL RECONCILIATION..." OPTIMISTIC AND ENCOURAGING AS THE PM SHOULD BE... IMHO

Abadi provides a summary of Iraq's post "Daash" national reconciliation in Washington


BAGHDAD - Iraq Press - April 16: According to a statement issued by the Information Office of the Prime Minister, Haider al-Abadi, received / Iraq Press / copy of it, "Abadi attended the discussion closed session included 25 experts and scholars from experts on Iraq from various research centers in Washington, held at the US Institute of Peace, "noting that" Ebadi, arrived last Tuesday, to Washington and met with US President Barack Obama, and discussed with him security developments in Iraq, also met with US Secretary of State, John Kerry, and discussed with him the anti-terrorism efforts, in addition to a meeting with US Secretary of Defense Ashton Carter to discuss the speeding train and equip security forces, as well as a meeting with the President of the US Joint Chiefs of Staff Gen. Martin Dempsey. "

The statement continued, "The meeting was called to brief submitted by the Prime Minister about the situation in Iraq, security, military, and political developments and achievements during the short period of the life of the government," pointing out that "Abadi answered researchers questions included his vision for the post-Daash national reconciliation and reforms in the military and in the Other institutions, decentralization and participation of women and the relationships between the components of society and with the region and the protection of journalists and vision solutions for Iraq and how to overcome obstacles and challenges and the importance of dialogue to resolve the problems outstanding. "

https://translate.googleusercontent.com/translate_c?depth=1&hl=en&rurl=translate.google.com&sandbox=0&sl=ar&tl=en&u=https://www.faceiraq.com/inews.php%3Fid%3D3723637&usg=ALkJrhgi7cv5r-UD9sKdNXb5170vYkxAfQ

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sczin11- FOR THOSE THAT TRULY BELIEVE ISIS MUST BE ELIMINATED, OR MOSUL MUST BE LIBERATED, BEFORE WE WILL SEE THE SIGNIFICANT INCREASE IN THE DINAR, NOW MIGHT BE A GOOD TIME FOR A BREAK...AT LEAST IF YOU BELIEVE NEWS RELEASES FROM THE PRIME MINISTER...WHILE HE IS ON OUR TURF, NO LESS..
(BTW, IF YOU DON'T KNOW ALREADY, I AM NOT OF THIS BELIEF )

Abadi confirms that Daash still vicious adversary that the battle to liberate the connector will not be until after Ramadan

Prime Minister Haider al-Abadi said: 'The organization Daash still vicious adversary', though his government gives priority to restore the city of Baiji, where there is an oil refinery and Anbar province, where state regulation waging attacks on government forces.

Speaking to reporters a day after meeting at the White House with US President Barack Obama gave Abadi, a mixed picture of the weakness of the militant group after eight months of the start of air strikes by US-led forces in Iraq.

The United States estimates that the organization Daash lost about a quarter of the areas dominated by Iraq.
Abadi and recently declared himself a major victory for the restoration of the city of Tikrit.

Abadi seemed reticent when asked whether the defeat of the militant group on the horizon with the approach of a major military campaign, saying: 'The group going in that path but still show great resilience and ability to maneuver.'

He said 'They Akaúdion, and in a state of crisis. That is why they appear fierce fighting '.

Iraqi authorities believe that the proportion of foreign recruits in the ranks of the state dramatically increased in
The past few months, while the Abadi said it may be a sign of weakness recruitment among Iraqis.
He pointed out that 'some of the fighters are believed to be of Chechen origin have heard they are talking in Russian contacts have been intercepted.'

State militants and made some progress in western Iraq, Wednesday, Bajtiaham a few villages on the outskirts of Ramadi, capital of Anbar province.

Abadi announced this month a new campaign in Anbar aimed to build on the victory achieved in Tikrit. He also told reporters in Washington that the Baiji priority.

Asked about his efforts to arm the Sunni tribes in Anbar forces, he said: 'Now that there are about 5,000 Sunni fighters have weapons' adding 'They want more sophisticated weapons such as heavy machine guns, but Baghdad does not have a surplus of those weapons'.

He also admitted that Abadi main battle to restore Mosul, the second largest city in Iraq, they still have a month and will not occur until after the month of Ramadan, which ends in mid-July.

A US military official said recently that the intense summer heat after Ramadan makes any effort to restore the connector before the fall is unlikely.

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