The Dinar Daily, Saturday May 16, 2015
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  1. #1

    The Dinar Daily, Saturday May 16, 2015

    CENTRAL BANK OF IRAQ

    CURRENCY CODE SELL BUY
    US dollar USD 1166.000 1164.000


    CURRENCY CODE SELL BUY
    US dollar USD 1166.000 1164.000
    Euro EUR 1299.157 1298.508
    British pound GBP 1804.968 1804.066
    Canadian dollar CAD -------- --------
    Swiss franc CHF 1251.341 1250.716
    Swedish krona SEK 140.995 140.924
    Norwegian krone NOK 154.212 154.135
    Danish krone DKK 174.084 173.997
    Japanese yen JPY 9.737 9.732
    Special
    Drawing Rights
    SDR 1637.752 1636.933

    Indicative rates - (as of) 12.5.2015 (no change as of 16.5.2015)


    http://www.cbi.iq/

    Currency Auctions

    Announcement No. (2949 - most recent listing)

    The opening offers the sale and purchase of foreign currency in the window of the Central Bank of Iraq on 11/05/2015 (no change as of 16/05/2015) and the results were as follows:

    DETAILS NOTES
    Number of banks 18
    Number of remittance companies 1
    Auction price selling dinar / US$ 1166
    Auction price buying dinar / US$ -----
    Amount sold at auction price (US$) 143,644,000
    Amount purchased at Auction price (US$) -----
    Total offers for buying (US$) 143,644,000
    Total offers for selling (US$) -----
    Last edited by pinkadonai1; 05-17-2015 at 11:15 AM.



  2. #2

    Re: The Dinar Daily, Saturday May 16, 2015





    The Exchange Rate of Foreign Currency in Economic Feasibility Studies

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

    Estimate the shadow price of foreign currency:

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

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

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


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


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

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

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

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

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


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


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

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



    The Republic of Iraq – Ministry of Planning

    and

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

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

    1) the SIGR report…


    2) the Gold Article…


    3) the IIER report…


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


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


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


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


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


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

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


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

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


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


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

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

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





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

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

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

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

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

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

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

    __________________________________________________ ______________

    AND

    Coins put on the market !!



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

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

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

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

    waradana.com

    And

    CBI is preparing to issue a monetary metal parts

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

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

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

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

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

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

    and

    Another "FLASHBACK"...

    Economists Divided Over Deletion Of Zeros

    By Amina al-Dahabi for Al-Monitor.

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

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

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

    ARTICLE LINK

    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.

    http://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

  3. #3

    Re: The Dinar Daily, Saturday May 16, 2015

    Central Bank reveals high cash reserves during May and is expected to continue



    Long-Presse / Baghdad Iraqi Central Bank revealed on Saturday, for the high volume of cash reserves during the month of May, from what it was during the month of April, and as pointed out that it regards oil sales volume for the current month, continues to increase expected over the coming months.

    The governor of the Iraqi Central Bank on the Keywords in an interview to the (long-Presse) on the sidelines of the conference (the adoption of international accounting standards for the Iraqi banks), "The nature of the measure Iraqi reserves the size of cash based on the daily dealings of oil revenues that are sold in world markets, as well as the size of cash transactions at home. "

    Keywords emphasized, that "the size of the cash reserve for the month of May, recorded an increase from what it was during the month of April," noting that "this relates to oil sales volume for the current month."
    Keywords predicted, "persistently high level of cash reserves in the coming months."

    It is noteworthy that the central bank confirmed, during the month of January 2015, that the reserves will exceed the $ 80 billion during the first half of the same year, but will not reach $ 100 billion due to weak retail Iraqi oil revenues and through which access to the dollar to strengthen reserves.

    http://www.almadapress.com/ar/news/48566/%D8%A7%D9%84%D8%A8%D9%86%D9%83-%D8%A7%D9%84%D9%85%D8%B1%D9%83%D8%B2%D9%8A-%D9%8A%D9%83%D8%B4%D9%81-%D8%B9%D9%86-%D8%A7%D8%B1%D8%AA%D9%81%D8%A7%D8%B9-%D8%A7%D9%84%D8%A7%D8%AD%D8%AA%D9%8A

  4. #4

    Re: The Dinar Daily, Saturday May 16, 2015

    Biden spoken to al-Abadi and vows to "accelerate" send military aid to Iraq



    Long-Presse / Baghdad He pledged US Vice President Joe Biden, on Saturday, to "accelerate" send military aid from heavy weapons and supplies for Iraqi forces, as he emphasized that the weapons included missiles mounted on the shoulder.

    The White House said in a statement seen by, the (long-Presse), he said that "US Vice President Joe Biden spoke by telephone, on Friday, with Iraqi Prime Minister Haider on the organization of the attacks (Daash) to the city of Ramadi," asserting that, Biden "that rush United States to provide military assistance to Iraqi forces. "

    He said the White House, that "the armament includes the delivery of heavy weapons, including missiles (AT-4) portable devices to address shipments homemade carrying vehicles, and additional ammunition and supplies to the Iraqi forces."

    The Prime Minister General Commander of the Armed Forces Haider al-Abadi stressed, on Friday, that the truth will recede in the coming hours the victory of the security forces in Anbar, and stressed that the liberalization of Baiji is close, and while calling on everyone to unite behind the flag of Iraq, stressed that it will be addressed as " all power "to the attempts to split the national ranks and unity.

    The Prime Minister Haider al-Abadi held, on Friday, (May 15, 2015), a meeting of military and security leaderships to discuss the repercussions of gray events attended by the ministers of defense and interior, as instructed further efforts in the fight against (Daash) and expelled from the province of Anbar.

    The Ministry of Interior announced, on Friday, that the security forces launched a "counter-attack" to recover the areas dominated by the organization (Daash) in Ramadi with support from coalition aircraft, and as pointed out that the Joint Command has sent new reinforcements to support the security forces and clans, called sons to the people not to believe "rumors tendentious and misleading news."

    The administration announced Anbar province, on Friday (May 15, 2015), the control of the organization (Daash) on the government complex in downtown Ramadi Anbar province (110 km) west of Baghdad, security authorities charged with the responsibility of the security collapse in Ramadi.

    It has a government compound in Ramadi, Anbar City Center (110 km) west of Baghdad, Anbar province, a building and the Directorate of the provincial police and a number of other government departments.
    An official source in Anbar province reveal, on Friday, the control of the organization Daash the city of Ramadi, center of Anbar province (110 km west of Baghdad), taking advantage of bad weather, and pointed out that the fighting now going on on the government compound walls, as he emphasized the fall of a large number of dead and wounded among the police and civilians.

    A source in Anbar province, police have reported, on Friday, that the organization (Daash) was able to control the three regions of central Ramadi (110 km west of Baghdad) after armed clashes with security forces.
    The House of Anbar, confirmed on Friday that ten suicide car bomb targeted the main entrances of the government complex central Ramadi (110 km west of Baghdad).

    The organization (Daash) controls the most important and prominent cities of Anbar almost a year ago on the events and battles and confrontations between security and tribal forces and highlighted the areas that are under the control of the organization is Fallujah and Qaim border between Iraq and Syria, Hit, Rawa and other ways, including near the borders of the capital, Baghdad vine Fallujah .

    http://www.almadapress.com/ar/news/48565/%D8%A8%D8%A7%D9%8A%D8%AF%D9%86-%D9%8A%D9%87%D8%A7%D8%AA%D9%81-%D8%A7%D9%84%D8%B9%D8%A8%D8%A7%D8%AF%D9%8A-%D9%88%D9%8A%D8%AA%D8%B9%D9%87%D8%AF-%D8%A8%D9%80%D8%AA%D8%B9%D8%AC%D9%8A%D9%84-
    Last edited by pinkadonai1; 05-16-2015 at 11:40 AM.

  5. #5

    Re: The Dinar Daily, Saturday May 16, 2015



    US weapons 'expedited' to Iraq
    2015-05-16 10:49

    Washington - The United States is sending "continued and expedited" weapons to Iraq, vice president Joe Biden told Prime Minister Haider al-Abadi on Friday, amid a major Islamic State group advance.

    The phone call took place after Islamic State extremists seized a government compound in the city of Ramadi earlier in the day, edging closer to what would be their biggest victory in Iraq this year.

    Biden thanked Abadi "for his steadfast leadership in Iraq and for promoting national unity at a time of significant security challenges, including the ISIL (ISIS) attack on Ramadi," a White House statement said.

    Weaponry and ammunition

    Using an alternative acronym for the IS group, the White House said that Biden reaffirmed "continued US support for the Iraqi government's ongoing efforts to defeat ISIL."

    "The vice president assured the prime minister of continued and expedited US security assistance to confront ISIL," the White House added, including heavy weaponry, ammunition and supplies for Iraqi forces.

    ISIS has threatened to take control of Ramadi for months.

    The loss of the city, which Abadi has said would be the next target of government forces after wresting back Tikrit last month, would be a major setback.

    http://www.news24.com/World/News/US-...Iraq-20150516?

  6. #6

    Re: The Dinar Daily, Saturday May 16, 2015

    Kurdistan alliance: We hope Abdul-Mahdi’s visit to Erbil would solve problems and financial benefits for the region

    Shafaq News / The member of Kurdistan Alliance MP , Majid Shankali expressed on Saturday, hope that the visit of the Federal Minister of Oil , Adel Abdul-Mahdi to Erbil would offer

    solutions to the financial problems of the region and insuring the financial dues to provide services to citizens of approximately a million and a half displaced people living temporarily in the region .

    Shikali expressed in a statement received by Shafaq News, his hope to discuss the oil agreement and to clarify the reasons for not sending the financial benefits of Kurdistan Region as approved in 2015 budget.

    MP of Kurdistan Alliance called to reach logical and realistic solutions to send financial entitlements to the region monthly, according to the 2015 budget law in the regional government for the performance of their duties towards the citizens of the region and displaced persons in the region.

    The Minister of Oil , Adel Abdul Mahdi had visited Erbil city and discussed with the President of Kurdistan region, Massoud Barzani, the region’s benefits, particularly with regard to the budget and the oil agreement between the two parties.

    http://english.shafaaq.com/politics/14368-kurdistan-alliance-we-hope-abdul-mahdi%E2%80%99s-visit-to-erbil-would-solve-problems-and-financial-benefits-for-the-region.html
    Last edited by pinkadonai1; 05-16-2015 at 11:47 AM.

  7. #7

    Re: The Dinar Daily, Saturday May 16, 2015

    IS presses Ramadi assault as Iraq forces mull response
    By AFP 1 hour ago in World



    A member of the Iraqi anti-terrorism forces stands guard outside the Habaniyah military base, near Anbar province's capital Ramadi, on May 8, 2015
    Ahmad al-Rubaye, AFP/File



    Islamic State fighters closed in on the last government-held positions in the Iraqi city of Ramadi Saturday after Baghdad vowed an air and ground counter-offensive.

    After seizing the Anbar provincial headquarters on Friday, the jihadist organisation said it unleashed another fleet of suicide car bombs on key positions in Ramadi.

    "Three suicide attackers in armoured vehicles tried to break into the 8th Brigade base. The attack was repelled using armour-piercing rockets," said Ramadi Mayor Dalaf al-Kubaysi, one of the last officials still in the city.

    He said five soldiers were wounded.

    Most of the Iraqi government forces and Sunni tribesmen fighting alongside them are concentrated in that base and in the Anbar Operations Command across the Euphrates river.

    Civilians fled en masse as the jihadists took over several central neighbourhoods on Thursday and Friday and looked on the brink of claiming full control of the city.

    The loss of the capital of Anbar province, which Prime Minister Haider al-Abadi had said would be the next target of government forces after wresting back Tikrit last month, would be a major setback.

    After meeting top security officials in Baghdad on Friday, Abadi vowed his government would not abandon Ramadi.

    The army sent reinforcements from Baghdad and elsewhere in Anbar, with local officials saying Iraqi and US-led coalition aircraft were also in action, but there was little sign of a major counter-offensive inside the city on Saturday.


    "Security forces in Ramadi are taking position against the attacks of Daesh, mainly in the areas of Malaab and Operations Command," Kubaysi said, using an Arab acronym for IS.

    "There are no military operations to take back the areas that were captured by Daesh," he said.

    Jessica Lewis, research director at the Institute for the Study of War, said the government could not afford to let Ramadi fall completely.

    "The Iraqi security forces will not let Ramadi go to ISIS (IS) without a massive fight," she said.

    "It is key terrain. Not only is it Anbar's capital city, but it is also a military gap in ISIS's control line in Anbar," Lweis said.

    Ramadi lies about 100 kilometres (60 miles) west of Baghdad. IS holds Fallujah, about halfway between the two, and several key towns in western Anbar between Ramadi and the Syrian border.


    http://www.digitaljournal.com/news/w...rticle/433404?

  8. #8

    Re: The Dinar Daily, Saturday May 16, 2015



    U.S. to expedite military aid to Iraqi forces, Biden tells Abadi -White House
    May 16, 2015 - 11:06:46 am

    WASHINGTON-- U.S. Vice President Joe Biden spoke with Prime Minister Haidar al-Abadi on Friday about the attacks by Islamic State militants on the city of Ramadi, and pledged the United States would expedite U.S. aid to Iraqi forces.

    "This will include delivery of heavy weaponry, including AT-4 shoulder-held rockets to counter vehicle-borne improvised explosive devices, additional ammunition, and supplies for Iraqi forces," the White House said in a statement.



    REUTERS

    http://thepeninsulaqatar.com/news/mi...i-white-house?

  9. #9

    Re: The Dinar Daily, Saturday May 16, 2015


    An Iraqi fighter aims his gun to protect the headquarters from an attack by Islamic State extremists in the eastern part of Ramadi. (AP)

    Islamic State tightens grip on a key Iraqi city a day after assault

    By Mustafa Salim and Hugh Naylor May 16 at 5:43 AM


    BAGHDAD — Islamic State militants are tightening their grip on Ramadi, executing civilians and blowing up homes a day after seizing most of the Iraqi city, government officials and police said Saturday.

    On Thursday, the extremist group launched an offensive to take Ramadi, about 80 miles west of Baghdad. They seized government buildings and drove pro-government forces out of most of the city on Friday, police and residents said.

    The assault appears to have dealt a significant setback to Iraq’s U.S.-backed government, which is struggling to retake territory that the radical Sunni group seized in sweeping advances last summer. The United States is leading an international coalition that is conducting airstrikes against the extremist group in Iraq as well as Syria.

    “They blew up the houses of the officers and [tribal] sheikhs who fought them,” said Colonel Hamid Shandoukh, speaking by telephone from the Malaab area of Ramadi, capital of the Anbar province, which is Iraq’s largest.

    Scores of residents have been executed by the Islamic State fighters, including women and children, according to residents as well as Shandoukh and other pro-government forces in the city. “We don’t have precise figures, but we can say that dozens of them were shot by Daesh,” Shandoukh said, using the Arabic term for the group.

    Police, counter-terrorism forces and tribal fighters have retreated to the Malaab and a nearby military command hub, where hundreds of them are surrounded by Islamic State fighters. Police and local officials say that supply lines to the facility have been cut, and those inside are in desperate need of supplies and military reinforcements from the Iraqi government.

    “We are calling on the government to provide food as well as military reinforcements to these areas that are besieged by Daesh,” said Suleiman Kubaysi, head of media relations for Anbar’s provincial council. He spoke by telephone from Baghdad.

    Kubaysi as well as police in Ramadi disputed a claim Saturday by an Iraqi military spokesmen, Brig. Gen. Saad Maan, that troops had been dispatched to Ramadi. Ibrahim made the announcement on Iraqi state television, saying that the U.S.-led coalition also had launched “painful” airstrikes in the city, the Associated Press reported.

    “Not a single soldier has arrived in Ramadi, and no military operation has begun in Ramadi,” Kubaysi said. “We’re begging for reinforcements, but nothing’s arrived. It’s a mystery.”

    Pro-government forces have recently driven the Islamic State out of key areas of Iraq, including the city of Tirkit. A crucial force in the battle for that city, which is about 120 miles north of Baghdad, was the role of Iranian-backed Shiite militias.

    Those militias have not participated in the fight in Anbar, in part over fear of stoking sectarian tensions with the area’s largely Sunni residents. Most of Anbar has fallen to the Islamic State, which has capitalized on Sunni grievances with the Shiite-dominated authority in Baghdad.

    Hugh Naylor is a Beirut-based correspondent for The Post. He has reported from over a dozen countries in the Middle East for such publications as The National, an Abu Dhabi-based newspaper, and The New York Times.


    http://www.washingtonpost.com/world/...ed_story.html?

  10. #10

    Re: The Dinar Daily, Saturday May 16, 2015


    Sunni people react as they flee the violence in the city of Ramadi. Islamic State militants raised their black flag over the local government headquarters on May 15, 2015 and claimed victory through mosque loudspeakers after overrunning most of the western provincial capital. -- PHOTO: REUTERS

    ISIS closes in on Iraqi city Ramadi as government forces mull response
    PUBLISHED ON MAY 16, 2015 4:52 P

    BAGHDAD (AFP) - Fighters from the Islamic State in Iraq and Syria (ISIS) closed in on the last government-held positions in the Iraqi city of Ramadi on Saturday after Baghdad vowed an air and ground counter-offensive.

    After seizing the Anbar provincial headquarters on Friday, the militant group said it unleashed another fleet of suicide car bombs on key positions in Ramadi.

    "Three suicide attackers in armoured vehicles tried to break into the 8th Brigade base. The attack was repelled using armour-piercing rockets," said Ramadi Mayor Dalaf al-Kubaysi, one of the last officials still in the city.

    He said five soldiers were wounded.

    http://www.straitstimes.com/news/wor...onse-20150516?

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