The Wall Street Journal predicts Abadi will remain in office after the May elections
Baghdad today – “The Wall Street Journal” in a report published Friday, the survival of Prime Minister Haider Abadi in office after the next election, while indicated that the alliances after May, who will decide the form of the next government.
The pro-Iranian Shiite factions, inspired by Hezbollah, also act as political parties, and as with Hezbollah, their ability to exercise political power within Prime Minister Haider al-Abadi’s government and abroad is derived from their weapons, By the total votes they will receive in the May 12 elections. ”
“The multiplicity of political forces and the influence of Iran and the fragmentation of the Iraqi parliamentary system means that post-election bargaining will determine the course of the state rather than the elections itself.”
“Nothing fundamentally changes in the way Iraq is governed,” the paper quoted Haddad, an Iraqi political specialist at the National University of Singapore, as saying.
Haddad added: “The election is likely to result from another coalition government headed by Abadi”
“There is no coherent opposition that can easily outperform it,” Haddad said.
Article Credit: baghdadtoday.news (Special Thanks to Charles Bright)
BGG ~ I like the WSJ’s optimism… we all know how accurate they were on the last election they “predicted”. I’m hoping on this one, they are more accurate.
______________________________________________________________
Mahdi Al-Alak: There is a package of facilities for investors to be announced soon
(Independent) … Secretary-General of the Council of Ministers, Mahdi Al-Alaq, the government’s willingness to open the doors of investment in Iraq, noting that “a package of facilities for the work of investors will be announced soon.”
A statement from the Secretariat of the Council of Ministers received a copy of it on Sunday that the relationship “met with the director of Shell, Andrew Brown, in the presence of Chargé d’Affaires Mariel Khairat, and a representative of the British Embassy, but Kelly.”
“The government is ready to open the doors of investment in Iraq after the conference on reconstruction of Iraq in Kuwait,” he said, adding that “a package of facilities for the work of investors will be announced soon.”
He reviewed the most prominent Iraqi government activities and preparations for a reconciliation conference in the Nineveh Plain soon.
For his part, Brown extended his congratulations to the Iraqi government on the final victory over the terrorist advocate, reviewing the achievements of the company in Iraq, expressing great desire to expand investment.
Article Credit: Mustaqila.com
______________________________________________________________
______________________________________________________________
Interpol in Baghdad to receive arrest warrants against 37 personalities including ministers and senior officials
Information / Special … Revealed security expert and political analyst Ahmed al-Abyad, Wednesday, the creation of a list of wanted names up to 37 personalities, including candidates for the upcoming elections will be handed over to the delegation of Interpol located in Baghdad.
“The Iraqi government has prepared a list of 37 individuals required for the Iraqi judiciary issued arrest warrants for the theft of public money in large amounts.”
He added that “among these figures ministers and former officials and sons of officials and candidates for the upcoming elections fled days ago,” noting that “the arrival of the delegation of Interpol to Baghdad came to receive those notes and arrest and return them to Iraq.”
He explained that “the arrival of Interpol to Iraq to receive arrest warrants is a precedent did not happen previously and usually go to governments to hand over the memos,” referring to the “seriousness of those moves to arrest the corrupt.”
He said that “Interpol intends to hand over passport passports to those figures and circulate them to the countries of the world to arrest them.”
The Secretary-General of INTERPOL International Jürgen Stok told the Prime Minister Haider Abadi, on Tuesday, that the Iraqis sacrificed their blood in defense of world security, and it is our duty to stand with them.
Article Credit: almaalomah.com (Special Thanks to Tim Tarkington)
______________________________________________________________
BGG Q & A
Q: I was wondering how much longer can Iraq keep jerking the international investors around before the international investors just throw their hand up in the air to walk away from Iraq. Just asking.
A: They already have. Davos?? Kuwait?? Ring any bells?? The clock is ticking.
______________________________________________________________
Central Bank of Iraq Auctions $199,681,501 on 04 March 2018
Baghdad (IraqiNews.com) The Central Bank of Iraq (CBI) currency auction on March 4 registered $199,681,501 in sales, a 1.43% volume increase from the US $196,868,397 sold by Iraqi Dinar, credit and transfer at the previous auction held on March 1.
The latest auction was attended by 45 banks and 9 remittance companies. The same institutions attended the auction held on March 4 compared to the previous auction.
Data for the March 4 auction was made public by CBI Announcement Number 3647.
Dollar sales in the in the period January 1, 2018 to March 4, 2018 saw an increase of -1% compared to the sales of US $6.38 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 $1.89 billion per month. Peak volumes were reached in May this year when sales touched US $2.3 billion.
Article Credit: http://www.dinarupdates.com/forumdisplay.php?5-Current-Iraq-NEWS
BGG ~ I will continue to highlight the regular auctions. After recently asking around about the reasons for the “tightening” of the supply of Dinar in the U.S… one of the main reasons I got was the fewer and fewer auctions. Wait – what?!? They are still having fairly robust auctions.
So, obviously, that’s not true… so what is it?
Another possibility is this MASSIVE financial embargo on Kurdistan, provided this was where currency was coming from.
I have also heard of a couple of major players talking about having money in – or being able to get money out of Kurdistan… all baloney. Kurdistan has been under very tight controls since snubbing the world diplomats with this sham vote pushed by Barzani.
Why was it a sham vote? Simple fact: you can’t just take what isn’t yours to take just because you vote on it.
Back to my previous rebuttal – anyone who actually had money in Kurdistan would have either gotten it out or is REALLY “up a creek”… likely just more B.S.
So…
1) Fewer auctions?
2) Tightening borders (fewer exports)?
3) More demand? I sincerely doubt it.
4) IMHO and most likely, the supply here in the U.S. from disgruntled sellers, which is likely where the bulk of the U.S. supply really comes from, and current interested buyers has finally reached a point of parity where the “supply – demand” scales are more evenly balanced.
Hence, the price goes up (Currently selling between $1100-$1200 per million)
______________________________________________________________
Foreign investment in Iraq.. What we accept and what we do not accept
Iraqis are looking to build the economy after an investment environment, which may be more encouraging than before, to attract foreign investments. The level of security risk, which is one of the obstacles preventing investors from coming to Iraq , And the government has the responsibility to ensure the removal of the rest of the obstacles, foremost of which is administrative corruption .
First, we would like to clarify that investments in the extractive sector are outside the framework of the present article discussion, since the conditions for acceptance or non-acceptance of foreign investments do not fully apply to them.
And the conditions that separate the investments accepted and unacceptable, in fact many, but there are important conditions should be paid to them for acceptance and rejection, especially those core which have been neglected and passed these investments will cause serious damage to the Iraqi economy may appear on it immediately.
The foreign investments are acceptable and clear without the inference and detail that the foreign investments acceptable and preferred are those investments that achieve at least four conditions; the first to employ a larger number of Iraqi labor, and the second to exploit the local physical inputs, and that the size of local inputs greater than those imported, And the third requirement to re-invest the largest proportion of its profits in the national economy, and the fourth to contribute to bring foreign currency to the Iraqi market as in tourism projects Unacceptable foreign investments In terms of unwanted foreign investments, there is a fundamental condition that must be observed even if it fails to meet the other conditions (of course not environmental or social damage … etc.).
This essential condition is that these investments are not dependent upon the importation of most or all of their operational inputs with the availability of local inputs, and then transfer their profits abroad through the demand of the dollar in the local market for foreign currencies. The exchange rate of the dollar.
This is usually the case if those investments are directed to the service sector. As an example of the violation of this essential condition is whether foreign investments are directed to the establishment of malls, for example, from which there is limited interest at first in the construction of an Iraqi labor, but then no locally produced goods contribute to the growth of the national economy. Which are imported, sold to the local consumer, and then turned the profits earned abroad by buying the dollar from the parallel market, causing pressure that could lead to a rise in the dollar exchange rate in the domestic market if the demand is large on the dollar by pumped investors Their money is in such a kind only Investments, usually a few pros and large damaging.
But if the government pledged to meet the needs of this kind of investment from the dollar at the official exchange rate, it would not be harmed by the situation of buying the dollar from the market, as this would drain Iraq’s foreign currency assets.
The reason is that investment in some types of services does not increase the contribution of material output to the GDP, which thus creates useful future connections and background to the economy and to the individual, and that all its connections and benefits are in and out. * Professor of Economics
Article Credit: alsabaah.iq (Special Thanks to Vernell)
1) This sounds like this is about foreign investment NOT relating to oil (IMHO):
…”we would like to clarify that investments in the extractive sector are outside the framework of the present article discussion”…
2) We (The U.S.) should really consider this guideline here too!!
…”foreign investments acceptable and preferred are those investments that achieve at least four conditions; the first to employ a larger number of Iraqi labor, and the second to exploit the local physical inputs, and that the size of local inputs greater than those imported, And the third requirement to re-invest the largest proportion of its profits in the national economy, and the fourth to contribute to bring foreign currency (Scratch out the word currency and put in it’s place “money” – better translation) to the Iraqi market as in tourism projects”…
3) This part is relative to Iraq alone (due to being a developing economy):
…”This essential condition is that these investments are not dependent upon the importation of most or all of their operational inputs with the availability of local inputs, and then transfer their profits abroad through the demand of the dollar in the local market for foreign currencies.”…
4) This is a sub-title in the article >>>>>>>>>
“The exchange rate of the dollar.”
This excerpt bemoans large, private, institutional investment that invests, contributes little to the basic fiber of the local market and then buys up the USD so as to have an “exit vehicle” to extract their initial investment and profits from the region.
“… (I rearranged this slightly so it makes more sense) Their money is in such investments only – usually by a few (large) pros (which is) damaging (our money supply).”…
This next part is a little confusing but…
…”if the government pledged to meet the needs of this kind of investment from the dollar at the official exchange rate, it would not be harmed (THE INVESTMENT, that is… – think CONTEXT HERE) by the situation of buying the dollar from the market, (I scratched the word “as” and inserted – “BUT”) BUT this would drain Iraq’s foreign currency assets.”…
IN SUMMATION:
A) THIS PIECE CLEARLY ILLUSTRATES WHAT IRAQ NEEDS TO DO…
IRAQ NEEDS A LIBERALIZED, INTERNATIONALLY TRADABLE, RECOGNIZED CURRENCY. ASAP!! FOREIGN INVESTMENT WON’T PUT UP WITH THIS BEING TOLD WHAT AND WHAT NOT TO DO…
DAVOS, KUWAIT AND THE RECENT COOL APPROACH OF BIG INVESTMENT SHOULD BE A DEAD-GIVEAWAY.
B) THEY ALSO APPEAR BE POINTING TO A FINITE SUPPLY DINAR & USD.
ARTICLES LIKE THIS HIGHLIGHT IRAQ’S KEEN INTEREST IN MINIMIZING SHOCKS TO THEIR CURRENCY RESERVES AND THEIR EXCHANGE RATE. THEY ARE SENSITIVE TO THIS SUBJECT.
ALL OF THE ABOVE CHANGES ONCE THEY GIVE FOREIGN INVESTMENT A CLEAR WAY IN AND WAY OUT – VIA AN INTERNATIONALLY TRADABLE , RECOGNIZED CURRENCY.
______________________________________________________________
Kaperoni (Dinar Guru) – …Banks don’t want to lose money. They want to know what the spread is from day to day. They want to know how much it’s going up and how much it’s going down and so on…this has always been an issue since I’ve been in this investment. The Central Bank had to reduce the spread…Shabibi actually did a wonderful job. He lowered the spread within the conditions set forth in their article IV consultations. He got it down to 1200 or so on the street and held it there for 10 months. In September of 2012 he announced he was going to begin currency reform so we assumed he was going to Article VIII at that point. Then of course PM Maliki at the time said No, we’re not ready. We don’t want this to occur…When Shabibi was out of the country for a conference Maliki put out a warrant for his arrest. Which in essence kept him out of the country and stopped the process in it’s tracks.
Read more: http://www.dinarupdates.com/observer/
______________________________________________________________
Kaperoni (Dinar Guru) – …IMF: “Although performance under the Stand-By Arrangement has been weak in some key areas, understandings on sufficient corrective actions have been reached to keep the program on track. Against this background, Directors encouraged resolute implementation of the authorities’ program including continued efforts toward fiscal consolidation, strengthening the financial sector, and implementing structural reforms to promote private sector activity and improve the business environment.” Very key…That is about as stern as I have ever seen from the IMF. I just think were in a good place finally. With the help of the UST and IMF it looks like they got a plan to reduce the spread. And with at 1220 now we are only 7 dinars away from 2%. So by end of week maybe. Can they hold it? Well I think there is to much riding on it to not to.
Read more: http://www.dinarupdates.com/observer/
______________________________________________________________
Kurdish official: Baghdad committees completed the audit of salaries of the region by 96%
(Baghdad: Al-Furat News) The spokesman of the Ministry of Health in the Kurdistan region, Khalis Qader, on Friday, cutting committees sent by the federal government to the region a significant step in resolving the outstanding issues between the parties.
Qader said in a press statement that “the competent committees of the federal government, which works to audit the salaries of employees of the Kurdistan region, has so far completed more than 96% of the instructions entrusted to it.”
He added that “the committees raised more than two positive reports, to the federal government, to pay the salaries of employees of the Kurdistan region, and the basis of the staff of health and education.”
“According to the reports of the committees, it told the federal government, the matching checks with the existing explanations,” adding that “but there is no response by the federal government to the reports of its committees to the territory.”
The spokesman of the Ministry of Health in the Kurdistan region, revealed on February 5 that ”
“We are waiting for the decision to pay salaries for the month of January this year, by the head of the federal government, Haider Abadi.”
He hinted that the health of Kurdistan demanded that the federal government to pay the salaries of its employees for the month of December 2017, and be spent within the decision on salaries last January, “adding,” But we do not know if the December dues or not. ”
Article Credit: alforatnews.com (Special Thanks to Charles Bright)
BGG ~ My first reaction is…
They had to do an AUDIT Because the CROOKED Kurdish leadership was asking for salary money for 50,000 employees that didn’t exist!! It’s no wonder Baghdad kicked them in the 8@!!$$ with 12.5% of the budget thing…
Also, this title is a little misleading, the real version is more like – they have finished (reportedly) 96% of the audit. Meaning: they are NEARLY done (with the AUDIT). Not actually done.
______________________________________________________________
Kaperoni (Dinar Guru) – From the IMF last Sept… “25. The government will gradually remove remaining exchange restrictions and a multiple currency practice (MCP) with a view to eliminating exchange rate distortions.Such a move towards acceptance of the obligations under Article VIII of the IMF’s Articles of Agreement will send a positive signal to the investor community that Iraq is committed to maintain an exchange system that is free of MCPs and restrictions for current international transactions and thus facilitate creation of a favorable business climate.” So it’s coming. That should perpetuate a new exchange rate regime as well causing the dinar to rise. …I believe once it starts, it won’t take more than a year to rise to a value we are comfortable with.
Read more: http://www.dinarupdates.com/observer/
______________________________________________________________
Enorrste (Dinar Guru) – …Once the ball starts rolling it will proceed quickly to a value that we can all enjoy. The simple fact is that there are now a vast majority of factors in our favor versus the few left that seem to be holding this back. ISIS is decimated in Iraq; the banking structure is becoming more internationally connected; interest in investing has risen even if actual investment has not yet begun; the CBI has finally tackled the problem with the spread (this is really key); the CBI is officially on the record now for some time to move toward a floating currency; talk of ending the auctions has risen to the point that it will become a reality soon; the IMF is trustee over the CBI and is on record to move Iraq into the real world; etc. I will be surprised if we don’t see the float begin sometime this year.
Read more: http://www.dinarupdates.com/observer/
______________________________________________________________
Abadi is looking with the head of Interpol to recover the smuggled money .. This is the substance of the agreement
Baghdad / Sky Press – Prime Minister Haider al-Abadi on Tuesday discussed with Interpol Secretary-General Jürgen Stok the Iraqi efforts to recover smuggled money and recover fugitive criminals.
“During the meeting, which was held in Baghdad, an exchange of experiences and capacity-building was discussed with the crimes of informatics, social networking, money laundering and terrorism,” a statement issued by Al-Abbadi’s office said.
He added that “Jürgen Stok price of the Iraqi forces victories on terrorism, stressing that Iraq has become an active member and integrated in the construction and activation of the system of notification and warning and the construction of a global biometric system and the use of industrial intelligence applications and databases to detect the crimes of fraud and suggling.
“We have now stood with Iraq to preserve its security and the security of the world,” he said.
Article Credit: www.skypressiq.net (Special Thanks to Paul Moseley)
______________________________________________________________
Some interesting headlines…
The parliamentary pledge to approve the budget by a tripartite meeting and a repeat scenario
Baghdad agrees to raise the proportion of Kurdistan from the budget and Erbil is waiting
______________________________________________________________
The Iraqi parliament approves the article on the Kurdistan region … and the Kurdish deputies boycotted the session
The Iraqi Council of Representatives (parliament) on Thursday, the article on the Kurdistan region in the general budget of the country for the current year, despite the boycott of the Kurdish deputies for the meeting because of the inclusion of their demands within the budget.
Baghdad – Sputnik . Article 9 of the Kurdistan Region stipulates that the share of the Territory shall be determined from the total actual expenditure according to the “population” of each governorate and paid by the Federal Ministry of Finance with the approval of the Prime Minister.
A source told the agency “Sputnik”, said the Iraqi Council of Representatives acknowledged the absence of Kurdish MPs article on the Kurdistan region in the budget, noting that the Council raised its meeting to Saturday, because of the imbalance of the quorum after the adoption of 12 articles out of 48 (total budget items) .
The revenues of the general budget are estimated at (91643667236) dinars, ie about 77 billion dollars. The expected revenues from the export of crude oil were calculated on the basis of the rate of 46 dollars per barrel at an export rate of three million eight hundred and eighty-eight thousand barrels per day, including 250 thousand barrels Daily from the Kurdistan region.
The expenditure allocations amount to JD (104,158,183734) dinars (88 billion dollars), while the total planned budget deficit (125,145,168,498,000) dinars (11 billion dollars).
Today saw the province of the deputies of the Kurdish blocs, in protest to reduce the share of the Kurdistan region from 17 percent to 12.6 percent and vote on the paragraphs of the Kurdistan region.
The situation was exacerbated between Baghdad and Erbil after the referendum held by the Kurdistan region on 25 September 2017. The referendum commission in the region announced the participation of 72.16 in the voting process, of which 92.73% agreed on the separation and the formation of an independent state. Baghdad refused to recognize the referendum and its results.
On October 16, the federal forces began the process of imposing security and law in the disputed areas, and resulted in the restoration of government installations and oil in the province of Kirkuk and the restoration of several other disputed areas of Peshmerga forces before heading later to regain control of the border crossings between Kurdistan, Syria and Turkey.
Article Credit: arabic.sputniknews.com (Special Thanks to Charles Bright)
BGG ~ Wait – how could the Kurds be corrupt? They just admitted (with a straight face) to having an extra 50,000 employees on the list of employees to be paid by Baghdad… but that Baghdad should make good on it’s agreement to pay the salaries. Remember them pushing, pushing, pushing… here’s why. I mean, what could go wrong with having them in charge of oil numbers?? Right?!?
(P.S. just a guess, the Kurdish leadership is where the bulk of Maliki’s dirty money has come from. It just makes sense. There isn’t the kind of money in the currency auction process for him to make the kind of money he has… THERE IS IN OIL THOUGH!!)
______________________________________________________________
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
______________________________________________________________
Twilight News – The meeting of the three presidencies began on Thursday evening to discuss the issue of the adoption of the Federal Budget Law 2018.
Economy News _ Baghdad – The economic and banking adviser to the Association of Iraqi Private Banks Samir Nusairi, said that the central bank and the banking sector played a key role in overcoming the economic and financial crisis, and support the state treasury and methods and procedures and new instruments in the applications of monetary policy.
Baghdad: Speaker of the House of Representatives Salim al-Jubouri, on Wednesday, all members of the Council to attend the meeting on Thursday for the purpose of voting on the federal budget.
BAGHDAD / Al-Sabah: The Minister of Labor and Social Affairs Mohammed Shiaa al-Sudani said that Iraq, having achieved victory over terrorist gangs, is witnessing a qualitative shift in its policies towards a market economy.
An investigation into how the city of Mosul fell to Daesh has stalled. A senior official in the Iraqi government told The New Arab that “the investigation into the fall of Mosul has now been frozen.” He explained that the investigation directly blames former Prime Minister Nouri Al-Maliki, a senior aid Tariq Najm, former Defence Minister Saadoun Al-Dulaimi, former Undersecretary of the Ministry of the Interior Adnan Al-Asadi, as well as senior military commanders in the Iraqi army, senior officers of the Federal Police and local officials.
Under Conference : Kuwait , the results of which are discouraging to solve the problem economic Iraqi especially after the devastation resulting from the grinding war on terrorism must think of radical solutions and take advantage of other peoples experiences
Erbil-Baghdad Agreement Imminent
A total of 6,000 cases of corrupt officials have been brought in by former and current governments, of which about 3,000 have not been completed, government sources said on Sunday.