Jubouri and the Saudi Ambassador agree to activate the factors of economic and investment development
Baghdad / Al-Ghad Press: Speaker of the House of Representatives Saleem al-Jubouri and the Saudi ambassador on Saturday agreed on the necessity of activating the economic and investment development factors between the two countries, opening new horizons and opportunities for developing trade and Saudi Arabia playing an important role in the reconstruction of liberated areas.
Al-Jabbouri’s office said in a statement received by Al-Ghad Press that the latter had received the ambassador of Saudi Arabia to Iraq, Abdulaziz Al-Shammari, and discussed the situation in Iraq, developments at the Arab and regional levels and the importance of cooperation between the two countries to face challenges and common issues.
“We have also discussed means of achieving stability in the region, especially after Iraq managed to end the existence of an organization calling on the terrorists to break their borders and end their alleged state,” he said.
“The role of the Kingdom of Saudi Arabia in supporting Iraq to achieve lasting stability and its cooperation with the Iraqi government to restore bilateral relations and achieve the interests of the two brotherly peoples,” he said.
The two sides agreed, according to the statement, to “activate the factors of economic and investment development between the two countries, open new horizons and opportunities for the development of trade, and that Saudi Arabia has an important role in the reconstruction of liberated areas.”
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Dinar Updates – Q & A Call – with BGG from Dec 12th – 8:00 pm Conference Call Phone # 641-715-3639 pin #528733
12/12 – Recorded Call Replay Link
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Nassif advises Abbadi: There is no possibility to open four files corruption
A member of the parliamentary legal committee High Nassif, Saturday, the lack of possibility to open four files of corruption, one relating to the Central Bank of Iraq, while calling for Prime Minister Haider Abadi to “fine” corruption until the change of the current political system .
Nassif said in a press statement that “it is not possible to go to Abadi to open files large and large files of real estate and the Central Bank and mobile phone and oil,” noting that “political blocs behind these files.
Nassif added that “Abadi should correct the corruption process and not allow him to change the political system, especially as we are going to the elections,” asserting at the same time that “Abadi is legally and legally bound to corrupt the nobility.”
Read More: http://www.dinarupdates.com/showthread.php?55758-Nassif-advises-Abbadi-There-is-no-possibility-to-open-four-files-corruption
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Enorrste (Dinar Guru) – Article: “World Bank: ready for the advancement of the Iraqi economy” I agree with KAP that the fact that this is being driven by the World Bank is very significant. [Reference Guru Kaperoni post 12-14-2017] In the past we have heard many times that “in the coming period” something may happen, but these were all from within the GOI or CBI. The politics intervened and delays occurred. However, with the World Bank behind this move it seems that we may finally begin to see some real economic growth in the country. Obviously with that growth there will be a strengthening of the currency which should allow for the float to begin. It could take several months, but at least we have one of the “big boys” behind this, finally.
Read more: http://www.dinarupdates.com/observer/
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Kaperoni (Dinar Guru) – Article: “World Bank: ready for the advancement of the Iraqi economy” This is another very important article. Since the World Bank is who was helping the CBI with currency reform, it appears they are on board now to get it done. If you read previous delete zeros articles the World Bank was clear on the benefits and reason to restructor the currency. Seeing this article gives me hope that with the help of the WB, the project may start within a month or two. Keep in mind, those same articles stated that it takes a long time ( I am speculating at a few years) to delete the zeros.
Read more: http://www.dinarupdates.com/observer/
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Economic Adviser and Banker of the Association of Iraqi Private Banks
The economic and banking adviser to the Association of Iraqi Private Banks, Samir Al-Nusairi, revealed the orientation of the government and the banking sector for economic, financial and banking cooperation with the Gulf states.
An Iraqi banking delegation headed by central bank governor Ali Al-Alak visited Saudi Arabia last week at the invitation of the Saudi Arabian Monetary Agency to discuss prospects for cooperation between the two countries.
Al-Nasiri said in an interview with “Economy News” that “the Iraqi banking sector is the main link in the economy and participate in the development process, although the economy suffers from a structural imbalance led to the failure to fully investigate the stability of the monetary system and financial system over the past 14 years as a result of unilateral economy The war on terror, the instability of the business environment, the challenges of a deficit in non-oil revenue and the balance of payments deficit. ”
Read more: http://www.dinarupdates.com/forumdisplay.php?5-Current-Iraq-NEWS
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Baghdad seeks concessions before negotiating with Kurds
Trying to jump-start discussions with Iraq’s central government, the Kurdistan Regional Government (KRG) in Erbil recently announced it will respect the Iraqi Federal Court’s ecision that the KRG independence referendum was unconstitutional. But Baghdad has amplified its demands for opening a dialogue, which makes negotiations unlikely to happen anytime soon.
The Kurdish independence referendum, which voters overwhelmingly approved in September, greatly escalated problems between Baghdad and the KRG. However, both sides have called for negotiations to resolve the issues based on the Iraqi Constitution. Iraqi Prime Minister Haider al-Abadi has said Baghdad is continuing to work toward putting into effect some articles of the constitution that have never been implemented and would benefit the Kurds, while at the same time returning federal sovereignty to all areas of Iraq.
US Secretary of State Rex Tillerson touched on the subject this week during a speech at the Atlantic Council-Korea Foundation Forum in Washington DC, saying the United States will help officials implement the Iraqi Constitution completely.
“We have said we’ll stand with the Kurds to support them in the full implementation of the Iraqi Constitution … which, when it is fully implemented, will address a number of grievances that the Kurdish people have had for some time and we hope will lead to that unified Iraq,” Tillerson said at the Dec. 12 meeting.
An Iraqi parliamentary source told Al-Monitor, on condition of anonymity, Baghdad’s five recent conditions for opening negotiations.
The first condition, he said, is that “the KRG should officially announce its commitment to the Iraqi Federal Court decision on nullifying all the outcomes of the referendum vote.” He said the Iraqi government wants an official statement in which the KRG “nullifies the referendum outcomes as per the Iraqi Federal Court decision — not just ‘respecting’ the decision.”
The KRG has refused to nullify the referendum results thus far. KRG Prime Minister Nechirvan Barzani and his deputy, Qubad Talabani, would have complied completely with the court’s ruling, the source said, but former KRG President Massoud Barzani and his son, Masrour Barzani, chancellor of the Kurdistan Region Security Council, are the main obstacles; they insist “the people’s vote will only be nullified by another public vote.” Baghdad wants a guarantee that the KRG will not seek independence in the future.
The Iraqi government also demands the KRG turn over all future federal revenues, including those from oil sales and customs. Baghdad has clearly said that it won’t receive any Kurdish delegations that don’t include representatives of all five political parties with factions in the Iraqi parliament. Those groups are the Patriotic Union of Kurdistan, the Kurdistan Democratic Party, the Gorran party (Movement for Change), the Kurdistan Islamic Union, and the Kurdistan Islamic Group. According to the source, the KRG is likely to accept these two conditions; however, the remaining two conditions will deepen the chasm between Baghdad and Erbil.
“The Iraqi government also calls for handing over all the border crossings, including Peshkhabour [Faysh Khabur] and Ibrahim Khalil. Finally, the Iraqi government also is not willing to pay the KRG’s $5.5 billion in debts — $4 billion to Turkey and $1.5 billion to [Russian gas company] Gazprom. The KRG must pay its debts,” the source said.
The KRG — in particular, the Kurdistan Democratic Party (KDP) side — is unlikely to hand over the Peshkhabour border crossing willingly and allow Iraqi forces to deploy there, as this area has become the lifeline of KDP financing and reaching the outside world. The KDP also uses the crossing as leverage against its main rivals, the Kurdistan Workers Party (PKK) and the Rojava administration (the Democratic Federation of Northern Syria).
Currently, the KRG is struggling just to pay its public servants, who haven’t yet received their September salaries. At a Dec. 11 meeting, the KRG Cabinet concluded the government can only pay public servants half their salaries every 60 days. The KRG also cannot pay its debts to Turkey and Russia.
As relations between Erbil and Baghdad have always been delicate, any simple disagreement can quickly become complicated. For example, in a Dec. 9 speech, Abadi praised Iraqi forces’ victory over the Islamic State but avoided mentioning the sacrifices of the Kurdistan peshmerga forces — earning him so much criticism that the speech was later amended to include the peshmerga. It seems that despite pressure from the United Nations, the United States and the EU on the Iraqi government and the KRG, Erbil-Baghdad negotiations are unlikely to happen until Iraqi elections are held in May. And, of course, while commencing negotiations and constructive dialogue is incredibly complicated, reaching an agreement on prolonged disputes and issues will be even more so.
Read More: http://www.dinarupdates.com/showthread.php?55757-Baghdad-seeks-concessions-before-negotiating-with-Kurds
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MilitiaMan (Dinar Guru) – Article: “Iraqi bank receives international award” Another indicator of significant progress or coming about international if you will. Setting up for to the final outcome imo.
Read more: http://www.dinarupdates.com/observer/
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MilitiaMan (Dinar Guru) – Quote: “We would like to inform you that RTL transfers has been activated MSG via electronic services via the Internet” This is telling us Iraq just went Digital… imo… if this is true, then our time is near! imo
Read more: http://www.dinarupdates.com/observer/
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Iraq emerges from Chapter VII and the “oil for food”
Iraq ended Saturday with a decision by the Security Council to withdraw from Chapter VII of the oil-for-food program imposed on it since the 1990s.
“Iraq has regained its normal status and international standing,” Foreign Ministry spokesman Ahmad Mahjoub said in a statement, adding that his country had completed all commitments to the program after a series of diplomatic successes.
According to the Security Council resolution that “completed the efforts of Iraq to end its files from the era of the former regime,” he ended his obligations under Chapter VII on the oil-for-food program, after he carried out in full.
In 1996, the United Nations imposed the $ 64 billion oil-for-food program to enable Iraq, besieged by timely international economic sanctions, to sell certain quantities of its oil and buy basic necessities.
BGG ~ Obviously, this is very big news, however…
Is Iraq being FULLY removed from the UN Ch 7 Charter (as in – all UNSC oversight)?
(BTW – the sanctions and “the UNSC Charter” may well be two related but different functions)
The wording is still a bit murky for me…
There are some “tensing”, translation and direct reference issues I would like to see cleared up.
It’s not entirely clear they are officially clear of Ch 7 entirely. In many of the articles and interviews, it appears (to me) as though this is referring to the Oil-for-Food program as an individual issue… apart from the UNSC overall function.
I have said repeatedly – I’m not sure they will release Iraq from their UNSC Ch 7 oversight anytime in the near future. This would greatly limit the UN’s ability to come and go (within Iraq’s borders) as they see fit.
Though the UN appears to be pushing Iraq forward rapidly, I am dubious they give up a big tool in their fight against terrorism in the region.
Does Iraq have to be fully released from the UN Ch 7 charter (the protection portion) to progress to where we would like them to? I believe not. JMHO.
Worst case – they are released from the Oil-for-Food portion of the UN Ch 7 sanctions – which is the last of the active CH 7 sanctions and allows them to sell oil more freely on the open market. Great. Huge move forward.
I am going to be somewhat reserved until a official U.N. announcement of a full release from CH 7.
It’s also curious how they managed to hold an international bond offering without this previously and were successful??
My advice – NO MATTER WHAT… calm down. There is an extraordinary amount of jumping from A to B to Z in the community right now. None of the assumptions have to be correct. Relax – wait for the facts.
Don’t add to the “internet hysteria” going on right now…
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Adam Montana (Dinar Guru) – […do you have some good news about thé HCL? RV?] I wish I did right now! We’re in a little bit of a lull with the HCL, and I’m not sure when that lull will be over, but I AM certain that it will end soon. All we can do right now is wait to hear some news. My guess is we should get HCL news within the next 6 weeks. It’s a topic that cannot be ignored forever, it’s something they NEED regardless of their currency value, and it is only going to benefit them. I get torn on this next statement… I want to say “the sooner, the better!” But then I also like the sound of “The HIGHER, the better!” With those words in mind, I usually decide it’s best if I exercise some of that virtue called “patience”, and I’m ok with letting it take a little longer if it’s going to be done right.
Read more: http://www.dinarupdates.com/observer/
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MIDEAST MONEY – Iraq dinar is short-term disappointment, long-term bet
Reuters Staff
* Iraqis still prefer hard currencies for many transactions
* But some foreign speculators see long-term opportunity
* External, budget surpluses could eventually boost dinar
* For now, central bank wants to keep currency stable (as of 2012)
* Any major appreciation unlikely before two or three years
By Aseel Kami
BAGHDAD, Oct 3 (Reuters) – Many Iraqis have lost faith in their dinar currency but to some foreign speculators, it promises big profits. The contrast underlines the uncertainties of investing in Iraq as the country recovers from years of war and economic sanctions.
The logic of the dinar bulls is simple. Iraq’s oil exports rose to 2.6 million barrels per day in September, their highest level in three decades; the country aims to hit 6 million bpd by 2017, which would put it close to Saudi Arabia’s current level…
Read More: http://www.dinarupdates.com/showthread.php?55734-FLASHBACK-(Oct-2012)-Iraq-dinar-is-short-term-disappointment-long-term-bet&p=180624#post180624
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KRG parliament speaker calls for rethinking strategy in Baghdad talks
Kurdistan Region parliament Speaker Yusuf Mohammed Sadiq has criticized the way the recent independence referendum was organized and accused the government of not properly involving the parliament.
In an interview with Al-Monitor from his office in the hillside neighborhood of Ali-Naji in Sulaimaniyah, Sadiq spoke about the ongoing crisis between Erbil and Baghdad and his vision for going forward. He said that the first priority of the Kurdistan Region should be to restore the role of parliament and to prepare for negotiations with Baghdad over all disputed issues. He said the negotiations would first require an internal review. “We cannot negotiate with Baghdad with the same old mechanisms,” he said.
While he preferred not to voice an opinion on whether the results of the recent independence referendum should be annulled, he said that if it “had not been held, conditions in the Kurdistan Region and the disputed areas might not have deteriorated.”
Sadiq said that since he was abroad following the referendum, he was unaware of the details concerning the peshmerga’s loss of Kirkuk. “The parliament must establish a special investigation committee to investigate all the events related to the referendum, [including] the events in Kirkuk,” he stated. “The most important question to ask is why we reached this point.”
Sadiq did, however, praise former President Massoud Barzani for stepping down from power. “[W]e need to respect democracy and learn to distribute and hand over power.… From this aspect, Barzani’s leaving power was a good thing.”
The text of the interview follows:
Al-Monitor: After having suspended its work for more than two years, the Kurdistan Region parliament resumed sessions on Sept. 15, 2017, without you. What is preventing you from returning to Erbil?
Sadiq: We do not believe that parliament’s return to work was done properly. After having been suspended for more than two years, parliament resumed sessions only to legalize the decision that some parties made to hold the Kurdistan Region [independence] referendum, and then the parliament endorsed that decision as a recommendation. This is not the right way to deal with the legislative power in a democratic system. The issue of the referendum should have been discussed in parliament, and all the political, economic, security and military aspects of the referendum should have been calculated; all preparations should have been evaluated, and then a decision should have been made. But they [the two main political parties: the Kurdistan Democratic Party and the Patriotic Union of Kurdistan] even set the referendum date without consulting parliament, and didn’t consider the consequences. Ten days before the referendum was held, they brought those decisions into the parliament [for a vote] only to legitimatize them. This is not acceptable in a democratic system.
Now, my decision not to return to Erbil is because we are still working with the same previous mechanisms that have been proved to bring nothing but defeat and failure to the region. The parliament is still not being taken seriously by the dominant political parties.
The region was hit with a great defeat after holding the referendum, because [those involved] did not take into consideration its consequences and neglected calls by all our friends to suspend it. We saw the big defeat that happened to the people of Kurdistan.
Al-Monitor: Is it true that the Movement for Change [Gorran] is now agreeing to replace you?
Sadiq: My party has not agreed on changing the parliament speaker. The National Assembly of the Movement for Change, in its last meeting, asked me — after evaluating the situation and contacting different parliamentary fractions — to make my decision and [determine] how to deal with these issues.
The only reason for not attending parliament is that I want to see if parliament is able to do its work without any hindrance, with transparency to be brought into Kurdistan’s financial process and with political parties stopping interference in the security forces. We need a new stage of governance in the region. I am waiting to see whether or not we can launch this.
Al-Monitor: What is your stance on Mr. Massoud Barzani’s decision to step down and distribute his powers to the Kurdistan Region parliament, the Kurdistan Regional Government (KRG) and the judicial authorities in the region? Do you have any plans to step down?
Sadiq: I think Mr. Massoud Barzani [did a good thing by quitting] the authority of the Kurdistan Region presidency. I wish he had done so earlier so that the process of the peaceful handover of power might have become normalized in the region. The issue of whether Mr. Barzani has ruled well or badly — this evaluation should be left for another time. But we need to respect democracy and learn to distribute and hand over power. Therefore, from this aspect, Barzani’s leaving power was a good thing. The decision to distribute his authorities is a good decision, though it requires much legislation.
Al-Monitor: According to the law, after the two-year extension of Barzani’s term expired in 2015 and before parliament was suspended, you had the authority to assume the de-facto authorities of Mr. Barzani. Why did you not do so?
Sadiq: I did not want Kurdistan’s conditions to be further complicated, since I had known that Mr. Barzani would remain in his position. We were at war against the Islamic State [IS] terrorist group; we were facing a harsh economic situation in the region. It was not proper in all these complicated conditions to claim the presidency and compete with Barzani. My goal was not that at all. I wanted instead a peaceful handover of power. If I had shouldered the presidency, it could have been viewed as my seeking power and the presidency post.
Al-Monitor: What is your understanding of the peshmerga defeat in Kirkuk and other disputed areas in mid-October? Who ordered them to withdraw? Why did they not fight?
Sadiq: I am not aware of the details of the issue. I was in Germany when, unfortunately, that happened. The parliament must establish a special investigation committee to investigate all the events related to the referendum, before and after holding it, as well as the events in Kirkuk. The most important question to ask is why we reached this point. How did we lose all the gains we had made since 2003? Why did we lose nearly 49% of Kurdistan’s territory? The consequences of unwise KRG policies in suspending parliament and holding the referendum are not only that some peshmerga forces were defeated in Kirkuk, but that a large number of peshmerga brigades — for whom a budget of hundreds of millions of dollars from the KRG and the international coalition against IS was spent — are currently dissolved.
Al-Monitor: On Oct. 30, angry protesters stormed the parliament building, fiercely struck journalists and attacked Kurdish lawmaker Rabun Maruf, a former Kurdish MP from your own parliamentary faction. Who was behind the incident?
Sadiq: Those attacks were an evil endeavor and were pressures from outside the parliament from groups affiliated with some political parties against parliament. Parliament cannot work in this way … where one day the speaker of the Kurdistan parliament is not allowed to enter Erbil and another day they launch an attack on parliament and hit journalists and legislators inside parliament. This all should be stopped.
I made a statement on the evening of those attacks against parliament, and I sent a message to the foreign consulates in the region, asking them to help stop those assaults. Assaulting parliament was a very bad deed.
Al-Monitor: If you decide to return to Erbil, what will be the parliament’s priorities?
Sadiq: The first priority is finding a way to negotiate with Baghdad to deal with the problems and salaries of the public servants of Kurdistan. The second priority is bringing more transparency to Kurdistan and enforcing parliament’s local observation role. The third priority is passing several draft laws associated with the life of our people, including a bill for social insurance, and several other draft laws related to the life of the people of Kurdistan — but a review and an investigation into all that has happened in the past also needs to be on parliament’s agenda.
Al-Monitor: In the period of parliament suspension, the KRG — headed by Prime Minister Nechirvan Barzani — made several financial decisions such as decreasing salaries of state employees. To what extent are these measures legal?
Sadiq: All salaries of the people of Kurdistan, including civil, military and pensions, are regulated by law. And according to the law, the government cannot amend them in any way. All those measures that were taken in the past, including decreasing salaries, and all those taxes and customs that were increased by law, are illegal deeds. Currently, the KRG is in debt to its citizens; these debts should be fixed by the government in order to repay our citizens.
Al-Monitor: Baghdad has cut the Kurdistan budget from 17% to about 13%, in addition to a variety of other punitive measures after the referendum. What is your and your party’s stance on this? Do you plan to challenge these measures, and if so, how?
Sadiq: The Movement for Change has members in the Kurdistan parliament and in the Iraqi Council of Representatives, which are working on these issues. The budget must be divided according to the Iraqi Constitution. Article 121, Item 3 of this constitution guarantees that the Iraqi federal government allocate a budget for the regions suitable to their works, needs, activities and the ratio of their populations. Therefore, we will discuss this issue with Baghdad according to the above-mentioned criteria.
Al-Monitor: So, would you agree with the 13% portion of the Iraqi budget?
Sadiq: Distributing the budget according to the population is a key, but the needs of Kurdistan are important as well. No population census has been made in Iraq, and Iraq’s population is unknown. Thus, it is better we continue with the other past agreement, which is the 17% portion of Iraq’s budget, until a population count can be made in Iraq. But we in the Kurdistan parliament and the Iraqi government should also confirm that total transparency in spending the incomes be brought about. I am fully with the Iraqi government’s steps for carrying out transparency in Kurdistan as well as in Iraq itself, but reducing civilians’ income is an unsuitable action that must be corrected.
Al-Monitor: What is your position on the Sept. 25 Kurdish referendum? Can Kurds use the results of the referendum as a document to declare their own state, or do you think now that the results of the referendum should be annulled?
Sadiq: The referendum indeed has brought us many complications and led us to the current crisis. If the referendum had not been held, conditions in the Kurdistan Region and the disputed areas might not have deteriorated, and we could have better negotiated with the Iraqi government in a position of power; hence, the international community could have further supported us.
As for nullifying the referendum results, I do not have any comment. Since the beginning of the referendum’s process, I was not a participant, because I knew it would cost the region.
Al-Monitor: According to your perspective, when and how can an independent Kurdish state be established?
Sadiq: To create a state, you need to build a powerful economy; you need to establish a systematic system of governance. You need an effective judicial authority, and you need one regular armed force within which no figure or party can have a role.
You should internally build the state’s fundamentals, even if you would not declare independence, the international community will deal with you as a state. States are built internally, not from the outside.
Al-Monitor: What is your opinion on neighboring countries’ interfering in the region? How can the Kurdistan Region have balanced relationships with neighboring countries — Iran and Turkey in particular?
Sadiq: We first need to reorganize our own affairs at home in order to reduce foreign interference in the Kurdistan Region. We as the Kurdistan Region need to have very good relations with all the neighboring countries; in addition, we need to re-establish good relations with the Iraqi federal government.
On the international level, we also need good relations with all neighboring countries and all of our friends — especially the United States, which was a key supporter of us in the fight against IS. The United States and Iran have a big conflict in the areas, but both countries were big supporters of us in the first days of the IS attacks on areas near Erbil; thus, we should keep our friendly relations with all countries.
Al-Monitor: How do you describe the agreements that the KRG signed with Rosneft — the state-owned Russian oil company — for investment in the region’s oil and gas sector, without having consulted parliament?
Sadiq: The KRG signed those contracts with Rosneft at a time when the Kurdistan parliament was suspended. Thus, those agreements and contracts are under serious question. Hence, the contracts should be examined by the Kurdistan parliament first and then come into effect.
Al-Monitor: Kurdish opposition demanded the formation of a transitional government to replace the current KRG. What is your view on the transitional period?
Sadiq: We need a transitional period until the next election is held. This transitional period may need a transitional government, but a transitional government, or reshuffling the current KRG government, needs a settlement between the political parties.
We need an internal revision before starting negotiations. We cannot negotiate with Baghdad with the same old mechanisms since it has disadvantages for the region rather than being in our interests.
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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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SECURITY COUNCIL
