The Dinar Daily, Thursday July 16, 2015
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  1. #1

    The Dinar Daily, Thursday July 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 1288.313 1287.669
    British pound GBP 1814.179 1813.272
    Canadian dollar CAD 913.650 913.193
    Swiss franc CHF 1231.257 1230.641
    Swedish krona SEK 138.644 138.575
    Norwegian krone NOK 144.697 144.625
    Danish krone DKK 172.641 172.555
    Japanese yen JPY 9.518 9.514
    Special
    Drawing Rights
    SDR 1631.129 1630.313

    Indicative rates - (as of) 15.07.2015 (no change as of 16.07.2015)


    http://www.cbi.iq/

    Currency Auctions

    Announcement No. (2997 most recent listing)

    The opening offers the sale and purchase of foreign currency in the window of the Central Bank of Iraq on 15/07/2015 results were as follows:

    DETAILS NOTES
    Number of banks 29
    Number of remittance companies 8
    Auction price selling dinar / US$ 1166
    Auction price buying dinar / US$ -----
    Amount sold at auction price (US$) 364,691,686
    Amount purchased at Auction price (US$) -----
    Total offers for buying (US$) 364,691,686
    Total offers for selling (US$) -----
    Last edited by pinkadonai1; 07-17-2015 at 11:14 AM.



  2. #2

    Re: The Dinar Daily, Thursday July 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, Thursday July 16, 2015

    Parliamentary Legal suggest the adoption of the Federal Law soon and confirm the existence of significant differences on general amnesty and the prohibition of the Baath



    Long-Presse / Karbala Legal Committee of Parliament announced that, on Thursday, for the resolution of differences between the political blocs on the Federal Court Act with the exception of the item on the vote, while revealed the existence of major differences on the draft of the amnesty law could delay approval, confirmed the rejection of a coalition of state law and the accountability and justice objective prohibition of the annexation Baath Party and accountability in one law.

    The member of the Committee, Ibtisam Hilali, in an interview to the (long-Presse), "The differences between the political blocs on the Federal Court Act expired except one item on the vote within", noting that "the Kurdish component is still demanding that the vote will be the Federal Court unanimously While the rest of the ingredients you prefer to be a majority. "

    Hilali and suggested, that "soon to be agreed on by majority vote of the Federal Court in preparation for the adoption of law", saying "there are large differences between the political blocs on the general amnesty law, it comprises about 20 exception can not be accepted."

    And predicted a member of the parliamentary legal committee, that "takes the adoption of the amnesty law a long time until the agreed upon", indicating that "the Sunni component within the parliament rejected without discussion."

    She explained Hilali, that "the National Alliance, some amendments to the General Amnesty Law", pointing out that there is "an agreement on the non-inclusion of four types of crimes law, are terrorism and embezzlement of state funds and issues of honor and kidnapping deliberate".

    And she revealed a member of the legal committee of parliamentary, for "demanding head of the accountability and justice and a coalition of state law, the separation of accountability Law on the Prohibition of the Baath Party Law", and added that this "demand came to the fact that the law of accountability is valid for one year and must be Baath ban law continues."

    Hilali and went on, "The draft law was returned to the cabinet to reconsider it and separated and then return it to the parliament."

    The presidency of the Iraqi Council of Representatives decided during the 36th parliamentary session of the second legislative term legislative year, the first, which was held on the sixth of May 2015, to postpone the vote on the draft of the Federal Court Act until further notice because of differences on paragraph 12 of the Act, which states that vote will be in two-thirds of the court members, while insisting the Kurdistan Alliance to be a vote of all members.

    The Federal Supreme Court, an independent judicial body, financially and administratively, according to the Provisions of Article 92 of the Constitution, and consists of a number of judges and experts in Islamic jurisprudence and legal scholars, whose number and manner of selection and work of the Court, the law enacted two-thirds of the members of the House of Representatives by a majority.

    The members of the Legal Committee revealed the most important adjustments made to the new draft, which summarized by making the presidency of the Federal Court of the powers of the Judicial Council, in contrast to attempts were the end of the previous session of the separation between the two positions, as well as increasing the number of members of the Court to 13, including 4 of Shariah scholars who will be given the right to veto laws that are contrary to the law, as a former minister, he said that the new draft stipulates that decisions taken by consensus within the Court majority does not.

    The project of the Federal Court Act, one of the controversial topics that have not been resolved during the previous legislative sessions, which require consensus among the parliamentary blocs in the new session.

    http://www.almadapress.com/ar/news/51910/%D8%A7%D9%84%D9%82%D8%A7%D9%86%D9%88%D9%86%D9%8A%D 8%A9-%D8%A7%D9%84%D8%A8%D8%B1%D9%84%D9%85%D8%A7%D9%86%D 9%8A%D8%A9-%D8%AA%D8%B1%D8%AC%D8%AD-%D8%A5%D9%82%D8%B1%D8%A7%D8%B1-%D9%82%D8%A7%D9%86

  4. #4

    Re: The Dinar Daily, Thursday July 16, 2015

    "Tender rehabilitation and development of the main streets of the central province of Basra"

    To see auction details, click this link:

    http://iraqbids.com/Tender/july151205.JPG
    Last edited by pinkadonai1; 07-16-2015 at 01:55 PM.

  5. #5

    Re: The Dinar Daily, Thursday July 16, 2015

    "Moussawi: national bonds will contribute to the provision of liquidity"



    MP from the parliamentary bloc of virtue Abdul-Hussein al-Musawi, on Thursday, said the process step taken by the government to issue national bonds will contribute effectively to provide liquidity and investment opportunities for citizens that.

    He said al-Moussawi told the "Qurtas News" that "the continued decline in oil prices and the absence of actual capacity to increase production and the adoption of the general budget mainly on oil exports requires research in such mechanisms, which include the issuance of national bonds and push the optional savings to citizens."

    Musawi stressed "the importance of encouraging stimulus calculates more than the natural interest rate interest rate and this result will provide an opportunity for the government and liquidity may be stressful if borrowed from the World Bank and would also create a mechanism to take advantage of the funds in the capital inside Iraq."

    https://translate.googleusercontent.com/translate_c?depth=1&rurl=translate.google.com&sl=auto&tl=en&u=http://hathalyoum.net/sit/708631.htm&usg=ALkJrhgCDv2gobyoO44C1S__ophTeTnA8Q
    Last edited by pinkadonai1; 07-16-2015 at 01:56 PM.

  6. #6

    Re: The Dinar Daily, Thursday July 16, 2015

    "Investment Babylon stopped the granting of investment licenses because of the delay in forming the Board of Directors"



    The president of the Investment Committee of the Council of Babylon happiest Amuslimawi, Thursday, stopped for granting investment licenses in the province because of the delay in forming the Board of Directors, stressing that the federal budget is not enough to build infrastructure or provide better services.

    Said Amuslimawi in an interview with Alsumaria News , "The granting of investment licenses in the province has stalled despite the existence of many investment opportunities," attributing the reason for that to "the delay in forming restructuring the Board of Directors, which grants investment licenses after it has been dissolved as a result of the end of its specified in more than years. "

    Amuslimawi added that "the need to maintain investment is the ideal way to provide the services needed by the province and therefore this will be reflected in the hands of the Iraqi operation and reduce unemployment," pointing out that "the federal budget is not enough to build infrastructure or provide better services."

    The Director General of the General Authority for Investment in Babylon victory Hammoud Msenan province, announced (July 8, 2015), for his work Mbacherth tasks in the body, pledging to conduct a thorough review of the projects lagging, criticized the bureaucracy and red tape in the investment business.

    https://translate.googleusercontent.com/translate_c?depth=1&rurl=translate.google.com&sl=auto&tl=en&u=http://hathalyoum.net/sit/708597.htm&usg=ALkJrhjzBCWzsIOrNMCCEIX23F6ycWu4BA
    Last edited by pinkadonai1; 07-16-2015 at 01:58 PM.

  7. #7

    Re: The Dinar Daily, Thursday July 16, 2015

    "Cell crisis, decided to start issuing treasury remittances and the launch of a national bonds to the public"



    Decided cell crisis, Wednesday, start by issuing treasury remittances and the launch of a national bonds to the public and government guarantees and benefits of appropriate, authorized as oil minister Adel Abdul Mahdi, the follow-up the oil agreement between Baghdad and Erbil in the coming days.

    The prime minister's office said Haider al-Abadi in a statement received Alsumaria News a copy of it, that the recent "presided, today, a meeting of the crisis cell has been studied in which the economic and financial situation in light of the challenges faced by the country."

    The statement added that "the meeting reviewed the development of delivery oil province amounts agreement Kurdistan oil and entitlements and emphasize the need to adhere to its terms, according to the contents of the federal budget for the 2015 law, "noting that" the oil minister will follow up this file in the coming days. "

    The statement pointed out that "cell decided to start issuing treasury remittances during the remaining months of this year and launch a national bonds to the public and the government guarantees the benefits and appropriate in order to strengthen the financial position and activating the economy and development movement in the country."

    As the cell decided, according to the statement, "the adoption of the recommendations of the Economic Commission about proposals of the Ministry of Planning with regard to addressing the investment plan problems including in particular entitlements projects and letters of guarantee, asserting that" agreed that the Ministry of Planning and determine strategic projects and important in the light of the national development plan and development plans provinces With respect to payment term projects. "

    https://translate.googleusercontent.com/translate_c?depth=1&rurl=translate.google.com&sl=auto&tl=en&u=http://hathalyoum.net/sit/708597.htm&usg=ALkJrhjzBCWzsIOrNMCCEIX23F6ycWu4BA
    Last edited by pinkadonai1; 07-16-2015 at 01:59 PM.

  8. #8

    Re: The Dinar Daily, Thursday July 16, 2015

    "Karbala: lower bidding law resulted in the reluctance of the 145 projects in the province"



    Karbala / Antrzabra the Iraqi Media Network (IMN) - Deputy governor of Karbala Ali Mayali said that rely less on the choice of bidding on the implementation of projects policy reason for the reluctance of some 145 projects in the province, as well as reducing the financial allocations within the current year's budget.

    He explained Mayali's (IMN) that "the province of Karbala allocated to the 2015 budget amounted to 112 billion dinars and arrived to the province of which only 11 billion, under a lot of projects stopped because of financial distress."

    He added that "the province of Karbala from the special Iraqi provinces that Fitha annually approximately 50 million visitors, and must find service projects commensurate with these numbers," explaining that "what you need Karbala to complete the projects is 150 billion dinars."

    The deputy chairman of the Council on Maliki's (IMN) "The Ministry of Finance follow policy of double standards with the province of Karbala and the provinces of the Middle Euphrates through lack of financial allocations to those provinces," noting that "the fiscal deficit to maintain cause to stop dozens of service and health projects."

    Karbala Provincial Council called last week, the ministries covered by the transfer of powers to the provinces to speed up the transfer of grades allocated to projects and money to the provinces.

    https://translate.googleusercontent.com/translate_c?depth=1&rurl=translate.google.com&sl=auto&tl=en&u=http://hathalyoum.net/sit/708054.htm&usg=ALkJrhj2X97pMHcE_q_G25nmpRYdaJ1H-A
    Last edited by pinkadonai1; 07-16-2015 at 02:02 PM.

  9. #9

    Re: The Dinar Daily, Thursday July 16, 2015

    "Virtue: a proposed bond issue will contribute to the provision of liquidity and investment opportunities for citizens"



    Virtue confirmed parliamentary bloc, on Thursday, that the process step taken by the government to issue national bonds will contribute effectively to provide liquidity and investment opportunities for citizens to educate and call on the street at them that.

    The MP said the bloc Abdul-Hussein al-Musawi said in a statement received / scales News / copy of it "We recall what posed by virtue block previously that the continuing fall in oil prices and the absence of actual capacity to increase production and the adoption of the general budget mainly on oil exports requires research in such mechanisms and which ones to issue national bonds, pushing Optional savings for citizens and the stimulus it calculates the fan more than normal interest rate interest rate.

    He added that "This result will provide an opportunity for the government and liquidity may be stressful if borrowed from the World Bank and would also create a mechanism to take advantage of the funds in the capital inside Iraq." It ended 29/4 e

    https://translate.googleusercontent.com/translate_c?depth=1&rurl=translate.google.com&sl=auto&tl=en&u=http://hathalyoum.net/sit/708693.htm&usg=ALkJrhg1C-AQgR0FPZ364Y91Z5TOjZNFNg
    Last edited by pinkadonai1; 07-16-2015 at 02:04 PM.

  10. #10

    Re: The Dinar Daily, Thursday July 16, 2015

    "UN announces its support for the dialogue between Baghdad and Erbil"



    Shafaq News / The United Nations mission in Iraq, Thursday, for their support to solve the problems afflicting the region and the differences with the federal government, calling on both parties to abide by the agreement between Baghdad and Erbil.

    A statement of the Presidency of the Kurdistan Regional Government and the Lord of Twilight News, the prime minister Naچervan Barzani on Thursday morning received, in Arbil, Special Representative of the UN Secretary Jan Kubis and his accompanying delegation, pointing out that Kubis across during the meeting, which was attended by Vice-Chairman of the provincial government Ghobad Talabani, expressed his happiness for cooperation and coordination that exists between the provincial government institutions and organizations of the United Nations.

    He said Kubis thanked the provincial government on all those assistance for displaced people and refugees, stressing that the United Nations supports the efforts of the Kurdistan Regional Government to resolve internal problems and disputes with Baghdad.

    He said the UN envoy expressed his readiness to cooperate with the provincial government in this regard, expressing his support for the dialogue between Erbil and Baghdad.

    Kubis and new at the same time emphasizing the need for the commitment of all parties, especially Baghdad, with the agreement of Arbil.

    The statement continued that the head of the provincial government Naچervan Barzani talked about the recent developments in the problems between Erbil and Baghdad, noting that the problems between the two sides continuously from last year have not been addressed.

    Barzani added that the provincial government is obliged to take further steps to resolve its problems, especially in the economic field, but he also said the government at the same time supports the dialogue and negotiation with Baghdad to find a solution appropriate in the interest of all parties.

    Barzani thanked the UN role in this regard.

    https://translate.googleusercontent.com/translate_c?depth=1&rurl=translate.google.com&sl=auto&tl=en&u=http://hathalyoum.net/sit/708648.htm&usg=ALkJrhjPg55fXyRBTvzJeVZ68Q7nWy5aAg
    Last edited by pinkadonai1; 07-16-2015 at 02:06 PM.

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