Iraq is ready to reform the financial and economic sectors

Economy News Baghdad: UN Secretary-General Antonio Guterich said Iraq was ready to reform the financial and economic sectors.

Guterich said in his speech to the Iraq reconstruction conference held in Kuwait and followed by “Economy News,” that “the United Nations development programs operating in 25 areas of Iraq to help Iraqis and develop their reality of living.”

“The United Nations launches a grant program that helps repair infrastructure, improves daily life and helps improve economic reforms and revitalize areas that have been damaged,” he said.

Read More: http://www.dinarupdates.com/showthread.php?56261-Iraq-is-ready-to-reform-the-financial-and-economic-sectors

(Special Thanks to Loopster for sharing research)
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Iraq receives nearly $ 11 billion from Arab and foreign countries for reconstruction

Baghdad Mawazine News – Iraq received nearly 11 billion dollars from Arab and foreign countries during the Kuwait International Conference for the Reconstruction of Iraq.

Saudi Arabia’s foreign minister, Adel al-Jubeir, said that “the kingdom has allocated $ 1.5 billion for reconstruction projects in Iraq and the financing of Saudi exports to it.”

While the Turkish Foreign Minister Mouloud Javishoglu, during the conference, to provide five billion dollars to support the reconstruction of Iraq.

Iraq also received $ 100 million as a contribution from Australia to reconstruction, while Britain pledged up to $ 1 billion a year to Iraq in the form of export credit over 10 years.

Germany announced at the Kuwait conference that it will provide aid to Iraq worth 350 million euros in 2018, and the UAE announced a pledge of 500 million dollars for the reconstruction of Iraqi cities.

Finland has donated $ 10 million to carry out humanitarian projects in Iraq and has pledged to train Iraqi forces.

While Qatar allocated one billion dollars in the form of loans and investments and export facilities for its products in Iraq.

The Amir of Kuwait, Sheikh Sabah Al-Ahmad Al-Jaber Al-Sabah, announced at the Kuwait International Conference for the Reconstruction of Iraq, on Wednesday, that his country will allocate $ 2 billion in accordance with the mechanism of Kuwait Fund for the reconstruction of Iraq and encourage investment in it.

Read More: http://www.dinarupdates.com/showthread.php?56263-Iraq-receives-nearly-11-billion-from-Arab-and-foreign-countries-for-reconstruction

BGG ~ I keep hearing the complains about Iraq getting all kinds of “welfare” as though they are living on these “pending grants” and IMF loans (instead of revaluing their currency).

I would be careful in assuming this is the situation or that any of this is any kind of “hold-up” to economic and monetary reform. I doubt so very much.

Everyone (as in – the investors and countries) wants to get close, be in on the beginning, but not so much so that they are just giving “hand-outs” with nothing in return. Iraq has to do their part. I get a little bit of the sense Iraq is kind of getting the cart before the horse with this latest conference.

It has long been speculated (and openly reported by Iraqi economists) Iraq would be hit with a “wall” of investment capitol when they truly started economic, monetary and governance reforms. However, it does not appear to me we are quite to this point yet. Everyone wants in – Iraq just don’t have the temperature quite right yet.

Keep in mind… these are “allocations”, “pledges” and “financing” and “projected exports” for projects. Basically these are all “feel good, sweet nothings” at a conference.

Next Monday we’ll see what’s what. Thus far they are well short of the 100 billion in give-aways (and grants) they were asking for.

On the other hand – why should they be given anything (for free)? If they would just pass corruption law(s) currently caught up in their Parliament’s legislative log-jam and then enforce them, their state treasury will swell by an estimated 500 billion (as they have plainly reported).

No need for anything from anyone.

Further, it is my opinion, Iraq should be held to account for (that means – PAY FOR) the military and humanitarian aid tab they’ve run up over the last few years.

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Central Bank of Iraq Auctions $182,320,645 on 14 February 2018

Baghdad (IraqiNews.com) The Central Bank of Iraq (CBI) currency auction on February 14 registered $182,320,645 in sales, a -5.98% volume decline from the US $193,912,578 sold by Iraqi Dinar, credit and transfer at the previous auction held on February 13.

The latest auction was attended by 45 banks and 9 remittance companies. The same institutions attended the auction held on February 14 compared to the previous auction.

Data for the February 14 auction was made public by CBI Announcement Number 3635.

Dollar sales in the in the period January 1, 2018 to February 14, 2018 saw an increase of -1% compared to the sales of US $4.75 billion in the same period in 2017. The total amount of US currency sold by CBI in the calendar year 2017 was US $15.7 billion.

An analysis of the monthly dollar sales by CBI since January 2016 reveals highly fluctuating volumes. During the period from January 2016 to February 2018, sales of US dollars averaged US $1.81 billion per month. Peak volumes were reached in May this year when sales touched US $2.3 billion.

Read More: http://www.dinarupdates.com/showthread.php?56268-Central-Bank-of-Iraq-Auctions-182-320-645-on-14-February-2018&p=181224#post181224
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World Bank: Iraq is the best place to invest in the world

The International Finance Corporation (IFC), the private sector arm of the World Bank, has urged international companies to overcome their concerns about financing reconstruction projects in Iraq and capitalize on high-yielding investment opportunities there.

“As the country emerges from a devastating three-year war against ISIS, I do not think anywhere in the world there are such opportunities for investment,” said Ziad Bader, head of the International Finance Corporation’s mission in Iraq, in a speech at Kuwait Chamber of Commerce and Industry.

“IFC has investments of about $ 1.2 billion in various projects in Iraq, including banks, cement factories and telecommunications companies, and is preparing to announce an investment of $ 250 million in a telecommunications project,” he said.

Read More: http://www.dinarupdates.com/showthread.php?56255-World-Bank-Iraq-is-the-best-place-to-invest-in-the-world
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BGG (Dinar Guru) –  Article:  “Speaker Jabouri calls 2018 Iraqi budget bill ‘unconstitutional,’ rejects to pass it”  Quote:  “…Salim al-Jabouri said the parliament will not approve cutting the salaries of civil servants.”   IMHO, this has very little to do with the actual budget they are trying to get passed and much more about political alliances being developed for the upcoming elections.  Seriously?!? Jabouri cares at all about the KRG share?? No. I think not.  All part of the process – it will happen.

Read more: http://www.dinarupdates.com/observer/
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sandyf (Dinar Guru) –   I get the impression that many perceive currency coding as nothing more than window dressing, nothing could be further from the truth. Currency codes are the backbone of all financial systems. Every computerized accounting software operates on a base currency and once set that currency code cannot be altered. When a country needs to introduce a new currency, the code must first be issued by the ISO, accounting software needs to be amended and a new set of accounts created in the new currency. This is why I often remind people that a redenomination cannot happen overnight nor in secret. One thing you can be sure of is that Iraq, or any other country is not going to be introducing a new currency anytime soon. It should be noted that the introduction of alternative denominations is an addition to an existing currency and not a new currency.

Read more: http://www.dinarupdates.com/observer/
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Iraqi gov’t released over 40 corrupt politicians – MP

Iraqi Parliament’s Integrity Commission Chief Talal al-Zawbaei revealed on Wednesday that the general amnesty law pardoned over 40 politicians who embezzled over four billion US dollars.

In a press statement, Zawbaei said that these corrupt officials have returned over 500 million US dollars only.

He added that some of these convicted politicians have begun to pay the money that they had embezzled, as the general amnesty law stipulates that those corrupt figures must return the money that they had embezzled in exchange of their release.

He further stated that this is the only way to get the embezzled money back after the Iraqi government failed to return if from over 1,000 corrupt officials and politicians.

Read More: http://www.dinarupdates.com/showthread.php?56265-Iraqi-gov-t-released-over-40-corrupt-politicians-%96-MP

(Special thanks to Charles Bright)

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Aggiedad77 (Dinar Guru) –   Article:  “The House of Representatives concludes reading and discussing the Federal Budget Bill of 2018   In policy February 13, 2018”   WELL LET US SEE WHAT THURSDAY WILL BRING FOR PARLIAMENT…THINK ABOUT IT…THE DAY AFTER THE KW CONFERENCE…SO WILL THIS BUDGET HAVE AN IMPACT ON WHAT WAS DONE AT THE CONFERENCE…IFO…NO… IMO… NO… BUT WE KNOW/SUSPECT HIGHLY WHAT THE FINAL OUTCOME OF THE BUDGET WILL BE…LOADED WITH STARS…PRIMING IRAQ FOR A FRESH NEW START…A START THAT DOES NOT INCLUDE AN ACTIVE WAR AGAINST TERRORISM, BUT INSTEAD A FOCUS TOWARDS THE REBIRTH OF THEIR ECONOMY, THEIR COUNTRY AS A NATION TO BE RECKONED WITH BY THE WORLD…MAYBE THE LION WILL ROAR IN KUWAIT TOMORROW [WEDNESDAY]…IMO IT WAS CERTAINLY AWAKENED THERE TODAY WITH THE GOINGS-ON THAT WE’VE SEEN…OPTIMISTICALLY EXCITED…THAT BE ME…IMO…3…2…1…

Read more: http://www.dinarupdates.com/observer/
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Mike (Dinar Guru) –  Article:  “Corruption, bureaucracy and armed practices threaten 157 Iraqi projects at the donor conference”   Parliament just passed a law protecting those in government from prosecution for corruption, their timing couldn’t have been worse. I realize the west doesn’t want to leave Iraq vulnerable to Iran’s influence, but at this point, Iraq is in Iran’s back pocket, losing them to Iran has already happened. These folks can’t even agree on a 2018 budget, how can they expect the world to donate billions when they can’t even balance their own checkbook?  The world has stood up and done everything it can to help this country…  These guys have got to put on their big boy pants and act like they care about the country and its citizens, if they don’t, the world won’t. IMO.

Read more: http://www.dinarupdates.com/observer/
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The @IraqiGovt is implementing reforms

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Some interesting headlines…

Interview: Iraq hopes to start new chapter after Kuwait conference

Tilerson begins a regional tour of Iraq reconstruction conference

Businessmen seek guarantees against bureaucracy to invest in Iraq

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Trump called an Iraqi delegation visiting him ‘thieves’, report

WASHINGTON, United States – The US President Donald Trump has reportedly called an Iraqi delegation visiting him in the Oval Office last year “thieves,” according to a report by Washington Post published earlier this week.

Following a meeting with an Iraqi delegation last year, a former US official told the newspaper, Trump jokingly referred to them as “the most accomplished group of thieves he’d ever met.”

Last year in March, Trump received an Iraqi delegation headed by the Iraqi Prime Minister Haider al-Abadi who also included Fuad Hussein, the chief of staff to the then Kurdish President Masoud Barzani.

The US has led a global coalition against the ISIS group in Iraq and Syria since 2014 that helped the country to regain the territories lost to the extremist group such as Mosul, Iraq’s second-largest city.

Iraqi and Kurdish officials including PM Abadi said then that they were satisfied that the US promised to continue their support under Trump to Iraq including in the war against the ISIS group.

A joint readout of the meeting in particular hailed “unprecedented cooperation” between the two countries.

No Iraqi or Kurdish official commented on the alleged Trump accusation as of yet.

Read More: http://www.dinarupdates.com/showthread.php?56258-Trump-called-an-Iraqi-delegation-visiting-him-%91thieves%92-report

BGG ~ Here’s my take on this article…

This came out in a different version a few days ago. It quoted “…a former White House Official…” – like, who?? One from the last term, this term, from the beginning of this one – what?!? I am most dubious. I have a suspicion this is “planted” and spread to hurt both our current US Admin and the current Iraq administration or even the relationship between the two.

Think about it – who does this “info” benefit?? This is good for neither of the two main characters in the meeting. No current officials have commented on it. This speaks volumes.

Both characters stand to threaten the corrupt.

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A timeline synopsis of the debate over Iraq elections

Feb 9 – Iraq elections commission has extended deadline for registering candidates for May’s parliament election to 15 Feb

“Karim al-Tamimi: The Board of Commissioners decides to extend the period of receipt of lists of candidates”

Feb 5 – Iraq parliament today decided to postpone PROVINCIAL elections until Dec 2018 at latest

The House of Representatives begins the discussion of the budget law and votes on the decision on provincial council elections

The House of Representatives began its ordinary session of the second legislative term of the second legislative year, which was held under the chairmanship of Dr. Salim Jubouri, Speaker of the House of Representatives and the presence of 173 deputies on Monday 5/2/2018 to discuss the draft federal budget law for the year 2018, and voted on a parliamentary resolution on provincial elections.

At the beginning of the session, the Council voted on its decision (due to the logistical difficulties and to take into account the conditions of some provinces and to give citizens the opportunity to exercise their constitutional right to elect, the House of Representatives decides to call the Council of Ministers to set a new date for the provincial council elections that does not exceed the maximum of this month of December of 2018) .

The Council began reading the report and discussion of the draft federal budget law for the year 2018 submitted by the Finance Committee…

See full read-out here: http://www.dinarupdates.com/showthread.php?56260-A-timeline-synopsis-of-the-debate-over-Iraq-elections

Feb 4 – Iraq elections commission says parties must submit candidate lists for May parliament elections by 10 Feb. Some parties want more time

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Jan 22 – Iraq parliament finally passed changes to national elections law today. Among other things it fixes the election date to 12 May and adopts a modified St Lague seat distribution formula with a 1.7 first divisor slightly favouring big parties

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Jan 21 – Iraq parliament met Sat but still no agreement on election date. Options under consideration involve parliament elections in May, provincial ones at later date

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Jan 19 – Worth noting that 149 of 260 Iraqi MPs present in parliament challenged dominant Shia Islamist parties to demand secret vote on election date

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Jan 19 – 123 Iraqi MPs voted to postpone parliamentary elections yesterday. Not enough to win the vote. New vote Saturday on 12 May proposal

Read More: http://www.dinarupdates.com/showthread.php?56260-A-timeline-synopsis-of-the-debate-over-Iraq-elections
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Click this link to join the DU “private” FaceBook Group…

https://www.facebook.com/groups/571383766355188/

(go here and ask to join… then add some Dinar Friends!!)

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Post RV Checklist (it’s getting to be that time!! Listen up!!)

Dos and Don’ts of Windfall Wealth:

Treat it like a PowerBall win

– Tell no one, not even family. If you must talk, do so with one who is already in the know.

– Don’t run out & buy new “stuff”. People notice.

– Get an unpublished number and give it out very sparingly.

– Get a tax accountant you can trust to make sure the IRS is satisfied (Certified Opinion is something to look into) and pursue asset protection…

Read Complete List: http://www.dinarupdates.com/showthread.php?18519-The-Post-RV-Checklist-and-Flashback-documents&p=128477#post128477
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If you found this blog, our website or chats helpful – Forward it to a friend!! We couldn’t do it without you!!

Thanks – BGG!!

www.DinarUpdates.com

World Bank: Iraq is the best place to invest in the world

The International Finance Corporation (IFC), the private sector arm of the World Bank, has urged international companies to overcome their concerns about financing reconstruction projects in Iraq and capitalize on high-yielding investment opportunities there.

“As the country emerges from a devastating three-year war against ISIS, I do not think anywhere in the world there are such opportunities for investment,” said Ziad Bader, head of the International Finance Corporation’s mission in Iraq, in a speech at Kuwait Chamber of Commerce and Industry.

“IFC has investments of about $ 1.2 billion in various projects in Iraq, including banks, cement factories and telecommunications companies, and is preparing to announce an investment of $ 250 million in a telecommunications project,” he said.

Read More: http://www.dinarupdates.com/showthread.php?56255-World-Bank-Iraq-is-the-best-place-to-invest-in-the-world
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Central Bank of Iraq Auctions $193,912,578 on 13 February 2018

Baghdad (IraqiNews.com) The Central Bank of Iraq (CBI) currency auction on February 13 registered $193,912,578 in sales, a -1.82% volume decline from the US $197,498,160 sold by Iraqi Dinar, credit and transfer at the previous auction held on February 12.

The latest auction was attended by 45 banks and 9 remittance companies. The same institutions attended the auction held on February 13 compared to the previous auction.

Data for the February 13 auction was made public by CBI Announcement Number 3634.

Dollar sales in the in the period January 1, 2018 to February 13, 2018 saw an increase of -1% compared to the sales of US $4.62 billion in the same period in 2017. The total amount of US currency sold by CBI in the calendar year 2017 was US $15.7 billion.

An analysis of the monthly dollar sales by CBI since January 2016 reveals highly fluctuating volumes. During the period from January 2016 to February 2018, sales of US dollars averaged US $1.81 billion per month. Peak volumes were reached in May this year when sales touched US $2.3 billion.

Read More: http://www.dinarupdates.com/showthread.php?56257-Central-Bank-of-Iraq-Auctions-193-912-578-on-13-February-2018&p=181210#post181210
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The @IraqiGovt is implementing reforms

Follow us on twitter @DinarUpdates !!

Dinar Updates – BGG  & the NEWS
Jan 2oth –  Rec. Dinar News Call
641-715-3639 pin #932875

01/20- Recorded Call Replay Link

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UN unveils two-year program to help rebuild Iraq

The United Nations said Monday it had prepared a two-year program to help the Iraqi government rebuild reconstruction of the devastated areas.

“The Kuwait conference provides a key platform to reaffirm the importance of voluntary, safe and sustainable return of displaced Iraqis as well as to raise resources to support the government’s efforts to achieve this goal,” said UNHCR Representative Bruno Gedo in a statement received by Mawazine News. This in turn is an integral part of broader plans in the United Nations system to support the Iraqi authorities in rebuilding the country. ”
“The conflict has ended on a large scale, but the legacy of this conflict remains. Events that have been revealed during the years of extremist control have left a sudden imprint on the Iraqi scene and in the hearts of the Iraqi people. The effects of the past years are still present throughout the country. “He said.

“There are severely affected cities, scattered communities and a generation of children at risk of being lost, with about 2.6 million displaced Iraqis,” he said. “In order for Iraq to advance, people must be able to return home.”

“The return of 3.3 million displaced people to their homes despite the difficult circumstances,” the UN official said, noting that “return is not just a return to homes but a return to society.”

“To support Iraq in this transitional phase, the United Nations agencies have set up a two-year recovery and resilience program. To achieve this program, we must ensure that adequate resources are available to accomplish this task,” he said. “Kuwait is a unique opportunity for us to present our plans to donor countries. And to encourage the private sector to increase investment. ”

The Iraqi government announced that its plan for the Kuwait conference will be on three axes. “The first is to contribute to the rehabilitation of infrastructure throughout Iraq, restore stability to the affected areas and develop the service sector.”

Read More: http://www.dinarupdates.com/showthread.php?56232-UN-unveils-two-year-program-to-help-rebuild-Iraq

(Special Thanks to Charles Bright)
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Kaperoni (Dinar Guru) –  Article:  “Al-Nasiri: Central Bank aims to build a solid banking sector in 2018”   Quote:  “In addition to its results and the extent of its commitment to implement the monetary policy directions of the Central Bank and reflect on its actual contribution to GDP and its contribution to sustainable development and its transition from the role of banking to the developmental role.” “In addition to its results and the extent of its commitment to implement the monetary policy directions of the Central Bank and reflect on its actual contribution to GDP and its contribution to sustainable development and its transition from the role of banking to the developmental role.”  This is a very clear statement for those looking for an overnight RV, it ain’t happening.  This means they are sticking with sound monetary policies that will improve the value of the dinar as the GDP improves.  In other words, as investment comes into Iraq, the dinar will rise in value.  Which from everything else we have read, appears to be some kind of float.

Read more: http://www.dinarupdates.com/observer/
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Mnt Goat (Dinar Guru) –   So the BIG question is this – is there a new plan to stock the US Reserves with Iraqi dinar and use it to pay off the National Debt after its revaluation?  Well one thing we do know for sure is the Iraqi dinar will have a very substantial revaluation unlike the initial re-instatement of the Kuwaiti dinar. We know this from knowing about the process to “delete the zeros”.   In fact the Kuwaiti dinar never really did revalue, it only rose in rate (not value) due to the float on FOREX and pure speculation. It then came back to reality…   [post 1 of 2….stay tuned]

Read more: http://www.dinarupdates.com/observer/
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The birth of a new economy

​Despite the challenges facing the Iraqi economy in all productive and service joints without exception, but hope exists as we are looking hard for exit outlets to the world of development, which was not impossible according to the accounts of specialists and researchers and interested in economic affairs.

In the context of achieving sustainable development in all sectors and national will, the birth of a new economy is possible in all joints with real hope if accompanied by a sincere will, a hope that grows to be an ideal and positive model in society and serve it in a way that reflects a positive image Supports the family economy.

The birth of an effective economy, after a waiting period that can be described as long, needs to organize the development process in all its forms, as well as the availability of data that can be the focus of real success in various fields of production and service alike.

Iraq has the human capabilities and resources, which in general need to carefully plan their investment in a way that transforms resources into real resources that serve the national economy and achieve a multiplicity of resources and contribute significantly to the GDP…

Read More: http://www.dinarupdates.com/showthread.php?56234-The-birth-of-a-new-economy

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Mnt Goat (Dinar Guru) –   I am positive there is some plan to do something and use some of this to pay off debt if nothing else in part to use it for the deficit negotiations…   Can they balance the deficit? Trump will look like a hero if they can and do it without closing down the govt again.  As the US is not doing all this work in Iraq to just fight terrorism.  I do not know all the details nor will I pretend to know. We shall all find out after the fact. This is all information that, if you tie it all together, points to the near completion of the project to delete the zeros and eventual revaluation of the Iraqi dinar. This what we are looking for. This is our TARGET!  [post 2 of 2]

Read more: http://www.dinarupdates.com/observer/
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Frank26 (Dinar Guru) –   Article:   “Al-Nasiri: Central Bank aims to build a solid banking sector in 2018”   Quotes:  “Central Bank’s adoption of standards and controls conforms to the requirements of international standards and the basic and subsidiary objectives of its strategy until 2020 and to activate and consolidate new visions of monetary policy applications,,,”;   “…the Central Bank has introduced new policies and visions and mechanisms of smooth implementation, but it is monitored and followed up on a daily and accurate basis inside and outside Iraq in order to achieve the above economic goals and strengthen international banking relations with the international banks in order to serve our national economy and the banking sector.”  YOU NEED TO READ THIS WITH THE HEART OF A STUDENT OF YOUR INVESTMENT…THIS IS THE MAIN SOURCE…DO NOT WALK BY THIS…”ARTICLE”.

Read more: http://www.dinarupdates.com/observer/
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National Alliance: the budget will continue with the presence of Kurds or their absence

MP for the National Alliance Hassan Khalati, said that “the budget will continue after the completion of the second reading in parliament, which was supposed to be read in yesterday’s session, but because of the absence of a legal quorum was not put on the agenda of the meeting”

He said in a statement that “after the second reading, will go to the House of Representatives to vote on the budget law, and this is what we seek and work on it in the coming sessions.”

He added that “the Kurdish deputies to stop boycotting the sessions of Parliament in relation to the budget of 2018, but everyone must resort to the Constitution in the issue of distribution of shares in the current budget.”

The Kurdish blocs that the draft law of the financial budget for 2018 “marginalized” the Kurds and canceled the territorial entity, while pointed out that the participation of Kurds in the upcoming elections are not related to the implementation of their demands in the budget.

Read More: http://www.dinarupdates.com/showthread.php?56245-National-Alliance-the-budget-will-continue-with-or-without-presence-of-Kurds

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Some interesting headlines…

Interview: Iraq hopes to start new chapter after Kuwait conference

Tilerson begins a regional tour of Iraq reconstruction conference

Businessmen seek guarantees against bureaucracy to invest in Iraq

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Interview: Iraq hopes to start new chapter after Kuwait conference

by Jamal Hashim

BAGHDAD, Feb. 10 (Xinhua) — The Iraqi government hopes to start a new chapter in its economy and the life of the Iraqi people after the upcoming Kuwait’s international conference for reconstruction of Iraq, which follows the full defeat of Islamic State (IS) group in the country.

“In my view, the doors will open up to a new life for Iraq, that would compensate the Iraqi citizen after the great suffering from the war against Daesh (IS group),” Mustafa al-Hiti, head of the Iraqi fund for reconstruction of affected areas by anti-IS military operations, told Xinhua in an interview.

Hiti said that the Iraqi government would unveil more than 150 investment projects in different fields, in addition to offering a number of investment projects by the private sector…

Read More: http://www.dinarupdates.com/showthread.php?56235-Interview-Iraq-hopes-to-start-new-chapter-after-Kuwait-conference

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The Other Battle in Iraq

Editor’s Note: The last year saw a rare bit of good news in Iraq, as the government there expelled much of the Islamic State from its territory. However, many problems plague the country. Douglas Ollivant of New America warns that the Iraqi government now must take on a far more pernicious foe: corruption. He details the problems this causes in Iraq and offers ideas on how to reduce it.

The Islamic State has been defeated in Iraq, but another threat continues to have a stranglehold on the Iraqi state—the pernicious corruption that has plagued the country for decades, particularly since the overthrow of the Baathist Saddam Hussein regime. While corruption will never be totally defeated, the government must diminish it significantly in the coming months, both to demonstrate to the Iraqi people that their government intends to faithfully discharge its responsibilities, and to liberate Iraq’s economy to provide for all its people. Failing to address this challenge will put at risk the recent victory over the Islamic State, and it is therefore in the interests of the United States to support this effort however it can.

Prime Minster Haider al-Abadi announced on December 9 that the Islamic State no longer occupies territory in Iraq, and the Iraqi Army now controls the border with Syria, isolating the terrorist organization in that country. Pushing out the Islamic State as an organized force has been a hard-fought victory, one that many analysts predicted could and would not be achieved. And yet the Iraqi military has bounced back from their humiliating rout in 2014 to liberate the entirety of the country.

While victory has a thousand fathers—many of them legitimate—the credit for leadership rightfully goes to Iraq’s chief executive, Prime Minister Abadi. The brave Iraqi soldiers who gave their lives in the grueling ground war have made the ultimate sacrifice, and the suffering of Iraqi families caught in the battles must be acknowledged. At the same time, the training and investment (and airpower) of the United States was a critical piece of the overall victory. But, at the end of the day, had this gone badly, we would be placing the blame at Abadi’s feet, and so in triumph the kudos reflect on the leader…

Read More: http://www.dinarupdates.com/showthread.php?56230-The-Other-Battle-in-Iraq

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Click this link to join the DU “private” FaceBook Group…

https://www.facebook.com/groups/571383766355188/

(go here and ask to join… then add some Dinar Friends!!)

______________________________________________________________

Post RV Checklist (it’s getting to be that time!! Listen up!!)

Dos and Don’ts of Windfall Wealth:

Treat it like a PowerBall win

– Tell no one, not even family. If you must talk, do so with one who is already in the know.

– Don’t run out & buy new “stuff”. People notice.

– Get an unpublished number and give it out very sparingly.

– Get a tax accountant you can trust to make sure the IRS is satisfied (Certified Opinion is something to look into) and pursue asset protection…

Read Complete List: http://www.dinarupdates.com/showthread.php?18519-The-Post-RV-Checklist-and-Flashback-documents&p=128477#post128477
______________________________________________________________

If you found this blog, our website or chats helpful – Forward it to a friend!! We couldn’t do it without you!!

Thanks – BGG!!

www.DinarUpdates.com

Masoum stresses Iraq’s urgent need for a solid and open economy

{Baghdad: Al-Furat News} President Fuad Masum, stressed the urgent need of Iraq to build a solid economy.

“The great victory that our people have achieved on the organization of the terrorist advocate has strengthened Iraq’s regional and international standing,” Masoum said during a speech at a conference of ambassadors and heads of missions in Iraq held by the Foreign Ministry on Friday, adding that international respect for Iraq’s strategic status as a force of terrorism Because it gives him a valuable opportunity to strengthen and multiply the possibilities of progress and construction and achieve security and peace. ”

He stressed “the importance of redrawing Iraq’s current and future ambitions in the diplomatic field, considering that the activities of our embassies vital and effective will inevitably contribute to encourage friendly countries to provide more moral and material support for Iraq.”

He also stressed the urgent need for Iraq to build a strong and open economy based on the recent economic and technological development, stressing that this requires attracting the largest international investments, the best technical achievements and the latest industrial, agricultural and tourism projects.

SOURCE

Abadi: optimistic about economic growth in a short period of time

[Ayna-Baghdad] Prime Minister Haider al-Abadi expressed his “optimism about the future of Iraq and the growth of its economy in a short period of time under the procedures followed and investment and the right and proper expenditure and public money.”

“The Iraqis have achieved the impossible by sacrificing and defeating,” he said. “Iraq has emerged as a united and victorious nation against terrorism despite the challenges of declining financial resources and difficult economic conditions.”

He added that “the response to citizens is a source of strength for us and not a fault to listen to our citizens,” calling on ambassadors and missions abroad to serve citizens and facilitate their transactions and consider the interests of the citizen number one and break the routine disrupting the interests of people and the country and stay away from regional and factionalism, praising Iraqi diplomacy for its role in strengthening relations Iraq and extinguish the differences and their contribution to the national effort. ”

“We can not isolate ourselves from the world in a time of communication, but we can protect ourselves by our unity and cohesion,” Abadi said. “We seek normal relations with all neighboring countries without compromising the interests of our people, our country and our national constants.

Alliraqnews.com
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Specialist: The government has started steps to revive the economy

Baghdad / A financial expert said the increase in non-oil revenues is “clear evidence” of the start of the revival of the Iraqi economy, calling for the generalization of these trends in all productive sectors. Thamer al-Azzawi told Al-Sabah: “What the Ministry of Transport announced about the increase in imports of airports, ports and private transport should be an example for its application in other sectors.” “The government has succeeded in the last three years in ensuring the stability of the markets, despite the financial crisis, the war on terrorism and corruption,” he said.

Noting that “the year 2018 will be a year to take steps to the prosperity of the Iraqi economy, which has suffered over the past 35 years,” stressing that “the solution is to diversify revenues, and move to a real market economy, and fight corruption, and enter into partnerships between the public and private sectors, As well as attract domestic and foreign investors. ” Transport Minister Kazem al-Hamami said Saturday that “the Iraqi airspace is witnessing a great overcrowding of transit aircraft.” He pointed out that “this shows that Iraq today is a link and communication with various countries of the world, making it an important station for Arab airlines “He added that” Iraqi airspace today is a stepping stone to move between the continents of the world, especially after the great victories achieved by Iraq on the gangs, “calling” criminal and the consolidation of security stability witnessed by what helped to open many
air passages . ”

Al-Hamami pointed out that “this will increase the import revenues for the transit of aircraft significantly as a result of the unprecedented preparation, as it will go to the treasury of the federal state and the budget of the country.” The General Company for Private Transport Management also announced that “the revenues of the Salahuddin Transport Department doubled by 200% in 2017 compared to the year before 2016. The Director of the Department of Salahuddin Ahmed Hassan Mohammed said that” the commitment of the employees in the department under the direction of the Minister and the General Manager of the company And make them double the efforts compared to previous years – the reason for these successes, “stressing that” these efforts have borne fruit with an unprecedented increase in revenues. ”

Read More: http://www.dinarupdates.com/showthread.php?56168-Specialist-The-government-has-started-steps-to-revive-the-economy

(Thanks to Loopster for this find)
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Al-Abbadi financial advisor: Agreement with the IMF forces the government to “adhere to the exchange”

The Financial Advisor to the Prime Minister said that the vision of the International Monetary Fund is forcing the government to “adhere to the exchange” after Iraq was exposed to a financial crisis since 2014, which resulted in internal and external debt, which must be paid on a long-term basis.

“Iraq has an agreement with the International Monetary Fund (IMF), which has been in effect since July 2016, under which Iraq will receive international support from the IMF, the World Bank, or from member states of the IMF, .

“The international financial community estimated the financial gap in Iraq between 2016-2019 at about $ 18 billion, funded from external sources, and the International Monetary Fund is responsible for bridging the deficit gap,” he said.

The International Monetary Fund decided to grant Iraq a loan (STAND BY), which grants it in case of actual need, but within several requirements and conditions, most agree with the reform program of the government, according to the source who confirmed that «the Fund conducts reviews (3 to date) Months, and until the last review before the Executive Board of the Fund, must approve the budget for 2018 ».

“The IMF has a vision on the budget, including setting the spending ceiling, by preparing a long-term (financial sustainability) plan for Iraq, including two directions; to address any drop in revenues, whether oil or non-oil, Accumulation of debt ».

Saleh pointed out that «there is an international financial incubator to protect Iraq, as the international coalition (military), which provided assistance to Iraq», stressing the importance of «Iraq does not lose the respect of the international community us, through demands do not lead to a result, , Is the Kuwait conference, how can Iraq go to the conference and understand with donor countries and he was unable to approve his budget? This is a very negative signal, and therefore the budget must be approved before the Kuwait Conference ».

SOURCE
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mike (Dinar Guru) –   Article:  “Washington reaffirms its support for the Iraqi economy”   Iraq’s leadership just don’t get it, the US is ready and chomping at the bit to get the TIFA side of the the project moving and all Iraq has to do is pass the legislation for the banks and the economy and get out of the way. But they don’t and then complain about it. We’re not going to: “give a signal to US companies that Iraq is open for business.”It’s not true, Iraq still has some heavy lifting to do before the country is open for outside investment. Property rights, business ownership, the currency, the banks and the economy are not attractive to US investment on a large scale if it doesn’t pertain to oil, it’s just too risky. Your move Abadi.

Read more: http://www.dinarupdates.com/observer/
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G-Lin (Dinar Guru) –   Article:  “CBI Signature of the deposit guarantee company”   Quote:  “In accordance with the duties of the Central Bank of Iraq provided for in its law and in order to ensure the stability of the banking sector and increase confidence in it, “the contract of establishment of the bank deposit guarantee company was signed with the founding body“.   This is CBI taking action on a law that was already in place. I have to assume that by the signing of this Doc between the banks and the company providing the insurance for the deposits, this was implemented today. Very much like our FDIC. This is huge news. Investors and the public will now feel safer with their money in the banks. Iraq needed to do this before the Kuwait extravaganza and also it will pull that mattress money out of hiding.

Read more: http://www.dinarupdates.com/observer/
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9 countries imposed conditions on Iraq for their participation in the donor conference

Fearing that money would go into pockets of corruption whales … 9 countries imposed conditions on Iraq

Baghdad News – Al-Hayat newspaper reported Saturday that nine countries imposed conditions on Iraq to contribute more than $ 100 billion in financial aid to the Kuwait conference.

The newspaper said that “the conference will be attended by 70 countries, in addition to international organizations, including the World Bank, and will be dedicated the first day to present investment opportunities in Iraq, while allocating the other days to collect $ 100 billion for the reconstruction of liberated cities,” noting that “nine countries demanded Iraq guarantees for its participation in the donor conference. ”

The newspaper quoted an Iraqi official as saying that “there is reluctance among a large number of Western countries on the approval to participate in the conference, including members of the military alliance against a Washington-led advocacy organization,” noting that “official invitations were extended to 80 countries , But more than 32 countries, including important countries and known for their significant contributions to such conferences, did not inform us of their consent to attend so far. ”

A government source, who declined to be identified, said there was real concern by companies that the amounts of grants earmarked for the reconstruction of Iraq would go into pockets of corruption whales, and demanded that she supervise the reconstruction process because she was not convinced of the integrity of the government.

Baghdadnews.info

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Enorrste (Dinar Guru) –   Article:  “Central Bank: Signing a contract to establish a deposit guarantee company with 44 banks”   I sense that the IMF is still in the background pushing Iraq forward slowly.  Like KAP  I’m reluctant to get too excited until we see this actually implemented and deposits start to flow into the banks.

Read more: http://www.dinarupdates.com/observer/
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Adam Montana (Dinar Guru) –   Not sure if anyone noticed, but this has been a great week for Dinar. I know, the price didn’t move. We’re not at our “Post RV” destination right now, and that’s a bummer for some people. But let’s get real… back to the basics. Did you see anything BAD about IQD this week? I didn’t think so. How many weeks in a row is it possible that I can say that? More importantly… how many weeks in a row can that be said without something breaking?!!   We’re close. It’s only a matter of time, a practice in patience, and some sweet sweet victory soon…It’s going to happen, and no amount of analyzation or hypothesizing on my part will change it.

Read more: http://www.dinarupdates.com/observer/

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Former minister: $ 500 billion will return to the state by applying the law “Where do you get this”

Baghdad – Mawazine News – Former Minister of Water Resources Mohsen Al-Shammari revealed that 500 billion dollars will be returned to the State Treasury in the event that a law is applied where you come from (better translated “Where did you get this”).

The House of Representatives on Saturday, during the session of the House of Representatives first reading of the proposed law on graft “Where you get this.”

“Former Minister of Water Resources Mohsen al-Shammari, it is likely to recover 500 billion dollars to the state treasury if the law applies” Where do you get this? ”

“According to the statement,” in line with the first reading of the law “where you have this” by the Iraqi parliament, it should include two paragraphs are essential, “noting that” these paragraphs are where you have this retrospective since 1979 and hold everyone accountable for what they have Of movable and immovable property without exception and large and small alike. ”

The former minister pointed out that “we must not forget that the legislative imbalance in Iraq has been addressed, we have the executive institutions of such legislation and decisions, which need the independence and expertise and efficiency to implement legislation.”

Al-Shammari said: According to preliminary estimates, the value of the amounts to be returned to the state treasury exceeds the value of (500) billion dollars, which is sufficient to remove the accumulated concerns on the chest of Iraqis and raise the value of the credit rating of the Iraqi economy to a high level and thus the global capital flows to work in Iraq, Our jobs have a record period.

Mawazin.net

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Some interesting headlines…

Hundreds protest in Tahrir Square, call for eliminating corruption

MP: Abadi wants to exclude Halabja from 2018 federal budget

Parliamentary Finance: Things are moving quickly towards the adoption of the budget

Iraq ‘s economy is witnessing a significant growth in the capital of Islamic banks

Abadi: We want to build our relations with states without waiving our rights

“…Iraq is seeking to build relations with neighboring countries and the world without waiving the rights of its people, pointing out that Iraq will be within a short period in the ranks of the major economic countries if it continues unified…”

US urges agreement on reopening Kurdish airports, paying salaries

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Al-Abbadi returned disappointed with Davos after hearing harsh words

LONDON (Reuters) – Prime Minister Haider al-Abadi has returned disappointed after hearing harsh words from donors and presumed investors when he offered to help Iraq, the London-based Arabic newspaper Al-Arab reported on Monday.

The newspaper said today that Abadi faces a great challenge in persuading foreign donors and investors to work in Iraq in light of the spread of corruption and lack of political and economic guarantees.

Abadi seeks to provide international funding in two directions, the first in the form of grants and international grants, and is directed towards the reconstruction of basic infrastructure in the liberated areas, and the second in the form of investment opportunities, to establish residential, commercial and recreational projects.

The newspaper said that ‘leaks from the hall of the Davos conference, held in Switzerland recently, indicated that Abadi’ heard harsh words, from donors and investors presumed, when he offered them assistance to Iraq ‘.

She added that donors are afraid to waste their money in the reconstruction and investment assumed, in a country competing at the top of the list of failed states, because of the spread of corruption.

State institutions suffer from a severe bureaucracy, and administrative transactions can only be accomplished by paying bribes to corrupt officials who control the decision.

Many of the special grade employees in the Iraqi government belong to political parties, with whom they share the commissions they provide.

Despite many legislative reforms introduced by Iraq on investment laws, the legal environment appears hostile to foreign investment, observers say.

They say that many legal contracts are still being put in the way of foreign investors contemplating coming to Iraq, with the aim of forcing them to pay commissions to facilitate their contracts. Sometimes commissions are about half of the expected profits. According to the newspaper.

“It has become widely known that Baghdad’s reputation does not encourage investors to venture with their money in a country that is still classified as the most dangerous country in the world. And there are those who firmly believe that the donations will not go for the reconstruction of cities destroyed by the war on the Dahesh, in light of the dominance of armed parties and organizations on the street and a large part of the joints of the state.

She explained that in the absence of confidence in the Iraqi government, the figures put forward by that government seems a kind of imagination that will not strengthen the global investment market to turn it into reality. The convening of the donor conference in Kuwait may seem a bad message to some Kuwaitis who still insist on not canceling the remaining compensation. Which will be an additional obstacle to dealing with investors and donors with Iraqi demands.

Economic and financial experts do not expect the conference to produce miraculous results and miracles in light of the inability of the Iraqi government to provide realistic guarantees to those seeking to help Iraq, making hopes on the conference closer to dreams.

Abadi is betting on persuading the international community to provide a fair portion of the funds Iraq needs. But first he needs to gain his trust. International donors are expected to meet on February 12-14 in Kuwait to discuss opportunities to help Iraq.

Baghdad is counting on this conference to launch a massive reconstruction campaign in the country, drawing on a series of pledges and actions it will take to convince donors to provide their money.

Ebadi’s Baghdad office seems confident of its ability to convince donors at the Kuwait conference, but diplomatic sources say the Iraqi government does not have enough arguments to gain the confidence of foreign capitalists. In devastated provinces such as Nineveh and Anbar, the work of foreign companies appears to be a source of political competition amid the chaos that prevailed there after the liberation. The newspaper reported.

Mosul, Nineveh, and Ramadi, the center of Anbar, have suffered extensive damage to the infrastructure and homes of residents, turning into two large fronts during the war against an oppressive organization. Political unrest prevails, and their administration is competing for power, most of whom are accused of corruption.

Diplomats say donors and investors may choose to channel limited funding to specific projects in Iraq to test the possibility of success. Anbar province appears to be a candidate for this experiment.

Anbar is bordered by three countries – Syria, Jordan and Saudi Arabia – which makes it easy for companies to access.

The Iraqi government believes that the international community will help it provide a normal living environment, prevent the emergence of violent extremism linked to authoritarian policies involving previous governments and characterized by poor distribution of wealth.

Iraq has suffered a large deficit in its financial budget, forcing the country to undergo austerity measures during the past three years, which also witnessed the control of an organization on a large part of its territory. Iraq was unable to recover its territory, except by spending billions of dollars on military operations, which subsequently destroyed entire cities.

Iraq was forced to seek international loans, constrained government spending on difficult terms, and raised fuel prices, which the state subsidizes production.

According to Iraqi estimates, the country needs about $ 100 billion to fund large-scale reconstruction, in areas that have been restored from a hasty organization.

Read More: http://www.dinarupdates.com/showthread.php?56120-Al-Abbadi-returned-disappointed-with-Davos-after-hearing-harsh-words
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Abadi’s war against corruption must begin with Maliki and his henchmen

Corruption is the most dangerous obstacle against Iraq’s development. As the country enjoys many natural resources like minerals and oil, the international community is concerned with Iraq’s high level of corruption.

Corruption in Iraq has caused severe poverty in Iraq, which led to civil and sectarian strife that caused the extreme damages to the country’s infrastructure.

Shia parties lead corruption

After the US invasion to Iraq in 2003, Shia parties seized all the important posts in the government and led a widespread corruption campaign, which analysts assert that Iraq’s losses have reached over 1,000 billion dollars during the last ten years.

The most prominent entity that led this campaign was the ruling Dawa party, led by the former prime minister Nouri al-Maliki, who was described by experts as the “Godfather of Corruption” as he is implicit in numerous corruption, graft and embezzlement cases.

Recently, the Iraqi Prime Minister Haider al-Abadi launched a campaign against corruption in Iraq, but analysts told The Baghdad Post that until now Abadi didn’t dare to press any charges against Maliki.

They added that as Abadi’s popularity increased after the victory against ISIS, the prime minister seeks to increase his popularity ahead of the elections by pretending to fight corruption, describing this campaign as an “electoral propaganda”.

Politicians are also skeptical from Abadi’s actions, after Abadi extradited the former trade minister Abdul Falah al-Sudany from Lebanon after cooperating with the Interpol, and the son of the Luai al-Yasiri the governor of Najaf in a drug trafficking case.

They fear that these actions are just a show ahead of the elections and the Iraq’s reconstruction conference that will be held in Kuwait in February. His actions just aim at ensuring investors that their donations and investments won’t be embezzled by corrupt officials and politicians.

The Iraqi people wish to see the anti-corruption slogans practiced on the ground, away from the occasion of elections or the upcoming Kuwait conference, and away from personal and electoral gains to include all corrupt politicians no matter how strong or influential they are.

Analysts say, during his tenure from 2006 to 2014, Maliki accumulated power and influence that surpassed the incumbent Abadi, stressing that this is the reason why the PM can’t hold him accountable for his crimes that led to the bankruptcy of Iraq after his embezzlement of Iraq’s oil profits and the country’s destruction in the war against ISIS.

They added that If Abadi is serious in his war against corruption then he must begin with Maliki and his henchmen.

Read More: http://www.dinarupdates.com/showthread.php?56102-Abadi-s-war-against-corruption-must-begin-with-Maliki-and-his-henchmen&p=181032#post181032
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Click this link to join the DU “private” FaceBook Group…

https://www.facebook.com/groups/571383766355188/

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Post RV Checklist (it’s getting to be that time!! Listen up!!)

Dos and Don’ts of Windfall Wealth:

Treat it like a PowerBall win

– Tell no one, not even family. If you must talk, do so with one who is already in the know.

– Don’t run out & buy new “stuff”. People notice.

– Get an unpublished number and give it out very sparingly.

– Get a tax accountant you can trust to make sure the IRS is satisfied (Certified Opinion is something to look into) and pursue asset protection…

Read Complete List: http://www.dinarupdates.com/showthread.php?18519-The-Post-RV-Checklist-and-Flashback-documents&p=128477#post128477
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