Trump, al-Abadi and Iraq’s future
Iraqi Prime Minister Haider al-Abadi arrived Washington, DC Monday on a visit to meet president Trump, along with Vice President Mike Pence, Secretary of State Rex Tillerson, Speaker of the House Paul Ryan and members of Congress. This is the first time a high-level Iraqi official will meet face-to-face with Trump, who has said that he feels his country has spent a lot on Iraqi security since the 2003 invasion without getting anything back in return.
It is clear that the support of the US-led coalition, including the deployment of American troops on the ground, will play a huge role in minimizing the time Iraqi security forces will need to retake the western side of Mosul. American forces operating out of the Qayyarah airbase have been involved throughout the battle, using Apache helicopters and smart missiles to fend off ISIS fighters inside the city.
The battle to retake Mosul in its entirety is likely to end before mid-April, given the progress made so far, and follows many other battles to eliminate ISIS’ presence in Iraq completely.
Without the continued assistance of the international coalition and American forces, the Iraqis won’t be able to defeat ISIS. But Iraqi media outlets, mainly those run by Shiite parties or backed by Iranian funds, insist that it is Iran has been the main contributor to the fight for retaking Mosul.
President Trump increased the presence of American forces in Syria this month. American aircraft also still use freely the many Iraqi airfields like Al Asad Airbase and Al-Taqaddum Airbase at Habbaniyah, as well as various also air bases in Kurdistan. Additionally, several hundred Marines were deployed to Syria earlier this month as part of an operation to retake the cities of Raqqa, the de-facto capital of the self-proclaimed Islamic State, and Deir Al Zor. They have entered Syria through the country’s Turkish border, but they will need to be able to operate in western Iraq to succeed in capturing Raqqa.
Al-Abadi knows Iraq will never survive unless it receives real support comes from Washington. Thus, in the coming August election, al-Abadi might break away from Al Dawa Islamic party currently led by former prime minister Nouri Al Maliki, and instead create and lead his own party.
With a new administration in office, al-Abadi will need to listen to language which may be quite different from what he is used to hearing from Obama administration. al-Abadi has always stressed that his first priority to defeat ISIS, and has shelved government reforms and programs to support reconciliation between the country’s divided political, ethnic, and sectarian groups. In the weeks after al-Abadi comes back from DC, Iraqis will see what kind of exhortation he gets from the new US administration.
This piece was edited by H. Graph Massara, UC Berkeley.
Read more: http://www.dinarupdates.com/showthread.php?47590-Trump-al-Abadi-and-Iraq%92s-future
Abbadi: we got assurances that American support for Iraq faster than before
Speaking to reporters, said the U.S. Peace Institute “to his meeting with President Donald Trump has been positive and has been getting assurances that support for Iraq would be faster than the previous until the completion of all tasks”, noting that he looked forward to meeting with members of Congress and we saw a lot of interest from companies that want to work in Iraq and hopefully cooperation in trade, energy, education and culture.
He noted that some States work duplication by using the term “terrorism and armed groups at other media in Dawa.”
Abbadi was drawn to “the international community and the United Nations were engaged in humanitarian efforts to Iraq, we need more funding to restore prosperity and stability to the country.”
The Iraqis are happier after 2003, there is freedom of expression and freedom to travel and enjoy several services, wealth is the wealth of the people, as an important reform to restore citizen confidence in Government, and we hope to bring fresh blood to the next election. ”
“The conflict in the region spread to Iraq and we don’t want to be part of this conflict,” he said, adding that “terrorism, Mickey only military force but there are other ways.”
“From the first day of our plan to release the connector we want peace”, adding that “there are volunteers who are fighting and fighting and sacrificing their lives for the homeland, and the popular crowd under the umbrella of the State and we will reward them for their sacrifices.”
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Statement at the End of an IMF Mission on Iraq
In 2016, real GDP growth was sustained at 11% supported by a large increase in oil output that benefitted from past oil investments.
In 2017, economic activity is expected to remain muted due to a 1.5% contraction in oil production and only a tepid recovery of the non-oil sector.
Further reforms to create fiscal space for inclusive growth, strengthen the business environment, reduce corruption and repair the banking sector are needed to support private sector-led growth and diversification of the economy.
International Monetary Fund (IMF) held discussions in Amman from March 5–17, 2017 on the 2017 Article IV Consultation and the second review of Iraq’s 36-month Stand-By Arrangement (SBA) approved by the IMF Executive Board on July 7, 2016 (See Press Release No. 16/321). The SBA aims to restore fiscal and external balance and to improve public financial management while protecting social spending. The first review under the SBA was completed on December 5, 2016 ( See Press Release No. 16/540).
Mr. Christian Josz, Mission Chief for Iraq, issued the following statement:
“Iraq has been hard hit by the conflict with ISIS and the plunge in global oil prices since 2014. The government has responded to the fiscal and balance of payments crisis with a large but necessary fiscal adjustment supported by financial assistance from the international community. In 2016, real GDP growth was sustained at 11 percent supported by a large increase in oil output that benefitted from past oil investments. Nevertheless, the non-oil economy experienced an 8 percent contraction due to the conflict and the fiscal consolidation. In 2017, economic activity is expected to remain muted due to a 1.5 percent contraction in oil production under the agreement reached by the Organization for Petroleum Exporting Countries, and only a tepid recovery of the non-oil sector.
“The plunge in oil prices has driven the decline of Iraq’s gross international reserves from $53.7 billion at end 2015 to the still comfortable level of $46.5 billion at the end of December, 2016. Fiscal pressures remain significant with the government deficit remaining at 12 percent of GDP in 2016, due to continuing weak oil prices and rising humanitarian and security spending. Total public debt increased from 32 to 64 percent of GDP during 2014-16. Credit growth decelerated and non-performing loans in state-owned and private banks increased significantly in 2016.
“The authorities have maintained the exchange rate peg which remains a key nominal anchor. Medium term growth prospects remain modest driven by projected flat oil production and investments in the face of the revenue constraint and modest pickup in non-oil growth supported by the expected improvement in security and implementation of structural reform. Further reforms to create fiscal space for inclusive growth, strengthen the business environment, reduce corruption and repair the banking sector are needed to support private sector-led growth and diversification of the economy once post- ISIS reconstruction is underway. Risks remain high, arising primarily from uncertainty in the oil price outlook, security and political uncertainties, and administrative weaknesses.
“The Iraqi authorities and IMF staff started discussions on the second review of the SBA. These discussions will continue during the upcoming IMF and World Bank Spring Meetings from April 21–23, 2017 in Washington, DC.
“During the visit, the team met with the Acting Minister of Finance Prof. Abdulrazzaq A. Jaleel Essa, Acting Governor of the Central Bank of Iraq (CBI), Dr. Ali Mohsen Ismail Al-Allaq, the Financial Adviser to the Prime Minister Dr. Mudher Saleh, and officials from the ministries of finance, oil, planning, the State Oil Marketing Organization, the Central Statistical Office, the Central Bank of Iraq, and representatives from the Kurdistan Regional Government, and the Board of Supreme Audit. The team would like to thank the Iraqi authorities for their cooperation and the open and productive discussions.”
Read More: http://www.dinarupdates.com/showthread.php?47496-Statement-at-the-End-of-an-IMF-Mission-on-Iraq
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Kaperoni (Dinar Guru) – […wondering if Trump can push for currency reform.] Currency reform is a consequence of economic and banking reform. …the IMF has made it very clear the dinar will be floated and will rise as a result of the growth of the economy. There is no confusion, it is stated clearly…the Balassa-Samuelson effect. ”Balassa–Samuelson implies that countries with rapidly expanding economies should tend to have more rapidly appreciating exchange rates.” In other words Iraq’s dinar is directly related to the growth of the private sector/market economy.
Read More: http://www.dinarupdates.com/observer/
Eat Well – Lose Weight!!
One of the sanest, surest, and most generous joys of life comes from being happy over the good fortune of others. – Robert A. Heinlein
BGG (Dinar Guru) – Quote: “…Based on the preliminary findings of this mission, staff will prepare a report that, subject to management approval, will be presented to the IMF’s Executive Board for discussion and decision…” exactly what decisions do the IMF executive board have to make coming up? I mean – they only deal with one thing. INTERNATIONAL MONETARY FUND. […can the CBI make a move before the DC meetings?] the CBI can do whatever they want…if the IMF doesn’t give their blessing who are they gonna’ sell their currency to? without international acceptance – there is no market. [post 2 of 2]
Read More: http://www.dinarupdates.com/observer/
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Abadi meets Trump in Washington
(Baghdad: Al-Furat News) Prime Minister Haider Abadi met on Monday with US President Donald Trump.
A brief statement, the Office of the Prime Minister, received the agency {Euphrates News}, a copy of which Abadi, “met with US President Donald Trump.”
The prime minister arrived in Washington at the official invitation of US President Donald Trump and is scheduled to meet with Trump, including the US Vice President, US Secretary of State and the US House of Representatives, as well as meetings with members of Congress and the Senate. To enhance cooperation between the two countries in security, military, economic and other fields
Read more: http://www.dinarupdates.com/showthread.php?47587-Abadi-meets-Trump-in-Washington
Kaperoni (Dinar Guru) – Article: “International Monetary Fund agrees to release contractors’ receivables” Quote: “The appearance of Mohammed Saleh that the second review of the credit agreement showed a clear understanding and success…This success is the understanding and agreement on the release of receivables of all contractors amounting to more than 4 trillion dinars once the Federal Audit Bureau announced the completion of audit contracts contractors, and we know the SAI is about to complete this process.” So the IMF is going to pay almost $4 billion dollars to unpaid contractors in Iraq. This is huge.
Read More: http://www.dinarupdates.com/observer/
Parliamentary economy suggests the discontinuation of the ration system and distribute cash instead.
Parliamentary economy and Investment Committee proposed Monday off the ration system and distributing cash to citizens rather than vocabulary contained in the card.
Dulaimi olive Committee member in an interview for “trend,” said that the subject import ration vocabulary by the Ministry of Commerce has proved its failure and the citizen do not benefit from it because of the corruption that marred deals a lot of contracts between the Ministry and the suppliers to the vocabulary of food card, causing a waste of public funds.
The Government was importing ration card and most citizens don’t want them being available in local markets at very low prices such as rice and flour, while the State is importing these articles at exorbitant prices, indicating that the card vocabulary replacement money and give it to the citizen is the perfect solution to eliminate the corrupt file this file.
The remarks came after Indian rice material distribution “incorrigible” into the vocabulary of ration agents in the southern provinces of Iraq, raised a lot of controversy because of her gowns, and the bastradha.
Iraqi Dinar/Dollar auction 03-20-17 (most recent listing)
Currency Auctions Announcement No. 3405
This daily currency auction was held in the Central Bank of Iraq on the 03-20-2017
The results were as follows:
| DETAILS | NOTES |
| Number of banks | 35 |
| Number of remittance companies | 11 |
| Auction price selling dinar / US$ | 1182 |
| Auction price buying dinar / US$ | —– |
| Amount sold at auction price (US$) | 164,418,642 |
| Amount purchased at Auction price (US$) | —– |
| Total offers for buying (US$) | 164,418,642 |
| Total offers for selling (US$) | —– |
More: http://dinarupdates.com/observer/
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Baghdad and Washington are discussing opening by Iraq with Jordan and file Khor Abdullah
Baghadad/SNG Search by Army Chief, General Othman Al ghanmi, Sunday evening, with the central region commander General Joseph votel, Commander of coalition forces in Iraq and Syria General Townsend and their Entourage, the format for the open road link between Iraq and Jordan.
And the Iraqi Defense Ministry said in a statement that the meeting nlkosh in the presence of aides and Army Chief corner, officers ‘ conduct ongoing military operations in Mosul, adding to the support pieces involved edits and a number of issues on the agenda. ”
“As the meeting addressed a number of important themes notably support the armaments and equipment of the Iraqi army units and also coordination with the Jordanian side to open a road link between Iraq and Jordan and secured as well as Khawr file and its importance for Iraq security and economically, providing a detailed brief by Naval Force Commander on the Khor Abdullah and protect waterways and regional water sharing.”
For his part, General votel pleased major victories by Iraqi security forces in Mosul which gained the admiration of every country in the world, at the same time affirming the commitment of the coalition countries chiefly United States in providing all kinds of support at this stage and beyond to eliminate terrorist ISIS. ”
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The following .PDF is the review by RCookie of the IMF board’s publishing of Iraq’s SBA (excellent info) – He would have wanted you all to have it.. posting the whole .PDF was the only way to get it on here. Enjoy. BGG
Robert Cook CSW CSS CBP CST CTC
Iraq:
IMF EXECUTIVE BOARD COMPLETES FIRST REVIEW IRAQ’S STAND-BY ARRANGEMENT (45 pages…)
| CURRENCY | CODE | SELL | BUY |
| US dollar | USD | 1184.000 | 1182.000 |
| Euro | EUR | 1271.261 | 1270.625 |
| British pound | GBP | 1463.306 | 1462.574 |
| Canadian dollar | CAD | —– | —– |
| Swiss franc | CHF | 1187.444 | 1186.850 |
| Swedish krona | SEK | 134.374 | 134.307 |
| Norwegian krone | NOK | 139.664 | 139.594 |
| Danish krone | DKK | 170.999 | 170.914 |
| Japanese yen | JPY | 10.436 | 10.431 |
| Special Drawing Rights |
SDR | 1606.475 | 1605.672 |