The IQD Team Conference Call Sept. 25, 2011"Joey, Vic, Diana, Tim, Debbie & Yukon"As Always.... The Latest Iraq/Dinar Discussion and Analysis Post & Pre RVCC Replay Sept. 25, 2011Download/Playbackor Replay # 760-569-7699 Pin 219055#This is abbreviated information and the articles from the Call Last Night...Listen to the entire call above to hearall the News shared last night.......All about Iraq & the Dinar Thanks to Brenda for compiling this information... Iraq & Dinar News: Diana Reads:
Abd al-Husayn al-yasseri: Iraqi dinar recovering and has become internationally recognized
Baghdad (newsletter). The parliamentary Finance Committee member and Deputy//National Alliance, said Abdel Hussein Al-yasseri, Iraqi dinar currently recovered than before and began dealing in outside, pointing out that the Central Bank of Iraq has limits (57) billion dollars and this demonstrates the strength of the Iraqi economy.
He said Al-yasseri told reporter (News Agency KCNA) Saturday: Iraqi dinar currently recovering began almost than before and are treated in most countries as Syria, Jordan and Lebanon and other dinar could be replaced with any international currency, stressing that the Iraqi dinar is now internationally recognized currency as previously, and raise the price of either the US dollar, stating that the dinar against the dollar (3027) dinars, now price (1191), this indicates The Iraqi dinar started recovering.
Al-yasseri referred to the Central Bank of Iraq has in its limits (57) billion dollars and this demonstrates the strength of the Iraqi economy than these are to strengthen the Iraqi dinar.
He said the Central Bank of Iraq on 22 June last, he decided to restructure the domestic currency to develop payments system in the country. It was also the International Monetary Fund in August last year to support the Iraqi economy if it a number of economic measures, including allocation of banks and raise three zeros from the currency and debt repayment and compensation rests with Iraq.
And functions of the Central Bank of Iraq boils down to maintaining price stability, monetary policy implementation, which include exchange rates, foreign exchange reserves management, issuing currency and management, in addition to regulating the banking sector. /Completed/8 l. Eng. ..LINK
Vic: Every day the articles get better and better
Joey: Has some great articles to back up what Diana just said Central Bank confirms that the deletion of zeros actual
Eye / Baghdad: The Iraqi Central Bank announced the continuation of the project of deleting three zeros from the currency on account of the criticism faced by the officials, adding that such criticism does not affect the conduct of the monetary reform.
The deputy governor of the Central Bank Modhir Mohammed Saleh: said "The project to delete the three zeroes from the currency was not affected by any existing criticism facing it."
Noting that "It is a national project must be implemented and many countries in the world has gone through this experience and they have succeeded in implementation it."
And exceeded all the conflicts and the decline in economic reality.
Mohammed Saleh added: "The project will be studied in more depth and explain it to the public and it is not a simultaneously project," but needs to long-term to apply, "likely that it will be applied more than a year from now. LINK CBI confirms the deletion of zeros and the currency exchange in 2013
Author: HM Editor: SS | GS Saturday, 24 September 2011 12:37 GMT
Deputy Governor of the Central Bank of the appearance of Mohammed Saleh
Alsumaria News / Baghdad
Central Bank of Iraq, Saturday, that in 2013 will delete the zeros and the currency exchange, pointing out that the current currency formed a cluster of large cash estimated at 30 trillion dinars. The deputy governor of the Bank the appearance of Mohammed Saleh said in an interview "of the Sumerian News", " central bank's strategy of deleting three zeros and the currency exchange will be at the beginning of a new year and new budget for the Iraqi state, "expected to" be the currency exchange in the new fiscal year for 2013. " Saleh added that the "zeros added to the currency led to the deterioration of the currency in Iraq, which led to the weakness in the efficiency of monetary exchange, "noting that" what you are suffering monetary institutions of Iraq at the present time of the errors in the accounts and records of returns caused by the high number of currency that are difficult to read. " Saleh indicated that "the Iraqi currency current formed a cluster of large cash and up to 30 trillion Iraqi dinars while the number of securities traded in the market to four trillion paper after it was mass cash amounting to 25 billion dinars in 1980, "explaining that" the greatest currency in Iraq at the present time is equal to $ 21 and are not able to cover Payments large. " Salih stressed that "the process of deleting the zeros and the currency exchange is the process of administrative reform of the currency of the Iraqi monetary and therefore does not affect the lifting of the value of things or change the per capita income of Iraq," adding that "fear of people from the deletion of zeros is the fear psychologically, as the process of deleting zeros and the currency exchange have been applied in 53 countries, including Turkey when he deleted six zeroes from the currency and Romania, which omitted four zeros. " He was an adviser to Prime Minister for Economic Affairs Abdullah Hussein Al-Anbuge, said in a (25 August 2011), to raise zeros from the currency is the biggest corruption in the Iraq if it was during this period, and fall under the name of tampering with the economic, warning of "mafias currency" is preparing to rig the trillion Iraqi dinars to replace them in the light of the planned changes. accused the Central Bank of Iraq, in the twelfth of September, the current, government agencies of obstructing monetary reform and vowed to sue, loaded with the bodies responsible for endangering the interests of the country's financial risk. In the view of some economists that Iraq is poised at the present time to delete the zeros of the Iraqi dinar, noting that the deletion of zeros needed to stabilize the security and political as well as economic stability. and declared Iraqi Central Bank Governor Sinan Shabibi , during a meeting of independent bodies with Prime Minister Nuri al-Maliki held in (June 19, 2011), his willingness to create all the supplies to replace the Iraqi currency. The Iraqi Central Bank was established as a bank independent under the law issued on the sixth of March of 2004, as an independent body and is responsible for maintaining price stability and the implementation of monetary policy, including exchange rate policies and management of foreign reserves and the issuance of currency management, as well as regulate the banking sector to promote a competitive financial system and independently. http://www.alsumarianews.com/ar/iraq-business-news/-3-28598.html
Joey: article states Can take up to 2013...I know alot of people got upset with this article and the way it sounded....but read it again...
carefully....talking about the larger notes....can take a couple of years...up to 2013 ...couple of years to get the big bills out except for that 100,000 note which they intend to maintain in the currency for very large transcactions
Banking experts: cautious optimism for the new Iraqi currency trading
News Agency Baghdad International / Ammar Hlbh /
Deputy Governor of the Central Bank of the appearance of Mohammed Saleh, said that inflation continued in Iraq has led to the high number currency from 23 billion dinars, P
j in 1991 to about 30 trillion dinars in the present time, indicating that inflation is drawing new figures of the currency in circulation by adding three zeros, referring to the currency category of 25 dinars, which has become over time, 25,000 dinars.
Saleh added in an interview with the correspondent of news agency, Baghdad International "WAP" that this has increased the amount of cash operations in nominal and arranged for the costs of production costs in large escorted operations storage, and distribution of promise, sort and check to accompany her and levels to double, indicating that these things are attached helped to increase the operational risks associated with them.
Salih stressed the need for radical reform of the management system currency through restructuring in proportion and structure of the new price is different and stable, pointing to the stability and optimism Iraq's future development.
and the benefit that the need for reform of the payments system cash is through the benefits of the first of the horizontal level of delete the three zeroes and transfer of 30 trillion dinars to 30 billion dollars and replace the existing currency new currency makes it easier to handle arithmetic with numbers are less numerous on the level of the accounts of the federal budget .
and he finished in favor of talk that the second advantage is the level of the vertical through the restructuring of the currency and installed as the currency of the large amount of 25,000 dinars, representing two-thirds the amount of securities traded, the issue categories of the largest mean reduction Alarabah trillion banknote in circulation is a number equal to 2.8 billion banknotes stressing that this process Stakhtzel large groups of the coin about 90% of the total categories exported to the circulation.
and the reasons for launching this project at this time Saleh said that the reasons for the change reflects the result of stability of stability of the Iraqi dinar exchange rate and lower inflation to the level of one decimal place and build reserves foreign support of the Iraqi dinar at levels not previously achieved during the last thirty years, which is the cover of the Iraqi currency.
For his part, Executive Director of the Association of Iraqi banks Abdul Aziz Hassoun, in a statement to the correspondent of news agency, Baghdad International "father" now is not suitable to replace the Iraqi currency, pointing out that direct this project has a Warning significant because it will lead to a failure of the Iraqi market, the process of replacing the process the current monetary currency cash new you'll need at least two years as this process must be gradual.
said Hassoun to this problems with aspects of economic, political, psychological, cultural, indicating that the effects of changing the currency on the citizens would be similar to that in other countries, pointing to the influence of acute left by the process of replacement of the currency on the consumer Turkey, where the rising price and time ratios are very high.
The Hassoun to direct this project you need to stable conditions, adding that Many countries with a stable economy does not turn to change its currency, cash, referring to Italy, which benefited from the devaluation of the Italian lira, which turned into reserves of the state is pending.
He Hassoun to a big problem facing banks in terms of how to calculate their assets after the release of the new currency because it will deal in two currencies for a period of of time that would disrupt the work of banks in general. http://www.baghdadiabian.com/news.php?action=view&id=9654
JOEY: Reads a sentence from an article that she feels is the most outstanding statement she has read in a long time....maybe all year....Came from the IMF ....One tiny little sentence buried in a very long article....from G20 World Bank meetings - stopped me in my tracks...blew me away... FRENCH FINANCE MINISTER FRANCOIS BAROIN:
ON THE IMF'S SDR
"The internationalisation of emerging market currencies is under way ... The Fund should be in a position to support this process, the final stage of which will be the inclusion of these currencies in the SDR basket. We should not disturb this process by adding extra conditions for currencies to join the SDR basket."
VIC: That one sentence tells it all...
Joey: They have support of IMF....World Bank and everybopdy else...including these currencies in the basket and nothing should be allowed to stop this process.........
Deb: DO NOT DISTURB.....Put out the DO Not Disturb Sign.....
Full article below HIGHLIGHTS - G20, IMF/World Bank meetings in Washington http://www.reuters.com/article/2011/09/24/g-idUSS1E78M23R20110924 Joey: What I just shared is about the IMF....I have shared many articles about Christine Lagarde the last few days and the IMF and what she had to say...she has said that the emerging currencies should appreciate significantly She has pointed out China, North Africa and the Middle East....want to paraphrase a few about this...even Shabs had something to say about this...
Launch of the Republic of Iraq Financial Sector Review
Begins: Sep 24, 2011 14:00
Ends: Sep 24, 2011 15:30
On Saturday September 24, the World Bank will host a discussion on a new comprehensive report about Iraq’s Financial Sector. The report highlights the potential of the country, ongoing reforms and remaining challenges.
Opening remarks will given by the Bank’s Vice President for the Middle East and North Africa region Inger Andersen, Iraq’s Minister of Finance, Rafi El Essawi and the Governer of Iraq’s Central Bank Sinan Al Shabibi. The session will be moderated by Omer Karaspan, Knowledge Coordinator at the Bank’s Middle East and North African region.
Permanent URL for this page: http://go.worldbank.org/L1CJS519U0 LINK Joey: Interesting...moderated by Omer Karaspan, Knowledge Coordinator at the Banks Middle East & North African region........ Christine has been talking about this..... Joeys Favorite article.....
Perspective on Iraq’s private banks by Iraqixchange
Summary: With inflation stabilized, oil production up and government encouragement to become better capitalized, private banks are drawing potential foreign investment partners because they are positioned for success in Iraq’s post-war economy.
Baghdad – A resurgent oil economy, projected GDP growth at more than 12 percent and a record level of foreign investment point to signs that the private banking industry in Iraq is looking at substantial growth, a new report on Iraqi banking says.
The groundbreaking analysis, conducted by Ahmad Saleh, senior research analyst at IraqiXchange, also indicates that for the first time in the modern era, bank deposits in Iraq accounted for more than half of the money supply.
“Iraq’s economy is growing out of its wartime difficulties quickly and transitioning from a centralized economy to one that is market-based,” says Saleh, an Iraq native and veteran North American banking analyst.
“With credit accounting for more than one-third of bank revenue and deposits at record levels, our analysis identifies attractive and specific investment opportunities in the Iraqi banking sector,” Saleh says.
HSBC of London, Qatar National Bank and National Bank of Kuwait are among those with stakes in Iraqi banks, and more financial institutions are following.
“We are very optimistic about Iraq over the next three to five years,” says Dennis Flannery, Citi’s country head for Iraq and a former U.S. financial attaché who previously worked at the World Bank and Bank of America. “Our feeling is that good progress is being made, and we expect to see really significant increases in the GDP in coming years — really significant.”
The Middle East and Africa banking sector is second only to Asia’s in growth potential, according to the 2011 Barclays Corporate Global Banking Survey of 200 top banking and insurance services executives.
Influenced by the World Bank and the International Monetary Fund, the Iraq government is phasing in an increased capitalization requirement for all banks.
”The hope,” Emirates Bank investment strategist Irfan Chaudhry tells IraqXchange, “is that new capital requirements will bring consolidation, increased investment and more interest from foreign banks.”LINK JOEY: The IMF said Iraqs for about 6 months of this year said economy wil grow to 6-7% Remembers Shabs on March 3rd in his letter of intent to the IMF...Shabs told them that their GDP would grow to 12%...IMF now agrees with him......Shabs is way out in front of these guys.....light years beyond these guys JOEY:
Iraq urged to reform financial system
(Reuters) - Iraq's banking system is hurting the country's growth prospects and must be revamped in order to entice foreign investment and diversify the oil-producing economy, international lending bodies said on Saturday.
Seven state-owned banks dominate the banking system and hold 89 percent of the country's bank deposits, according to a report authored by the World Bank. Many of the banks provide limited services, most of the commercial banks do not operate as banks and some sell cars, experts said.
"Iraq has to look like a diversified economy because it has to provide jobs for millions of people," World Bank country director Hedi Larbi said on the sidelines of the International Monetary Fund and World Bank meetings in Washington.
"This is a country where the potential is huge. We need to help Iraq as the next tiger of the region," he said.
The World Bank said the Iraqi government had to clean up banks' balance sheets, boost supervision of the financial system and level the playing field for competition from the private sector.
"To better balance the economy, a deepening of the financial sector is needed to support growth of the non-oil sector," the poverty fighting institute said in its report.
Officials said Iraq's muddled financial sector was but one of the barriers to economic growth and said security and macro-economic stability was still needed.
"It has improved an enormous amount, but it is still a risky environment," said Ron Van Rooden, the IMF's mission chief for Iraq.
WEAKER OIL PRICES
The IMF expects Iraq's gross domestic product to expand 9.6 percent this year and 12.6 the following year. That is in sharp contrast to many other Middle Eastern and North African countries, which will see declines in growth in 2012 due to weakening oil prices and a global slowdown.
Iraq's finance minister said his country would be able to weather the downturn in oil prices with higher output.
"If we increase the production versus the changes in the prices this can make up the budget," Rafi El Essawi told reporters. "With the hope that we may add to the infrastructure of the export of oil at the end of this year, we will add a little bit to the Iraq economy."
The country is currently producing about 2.7 million barrels per day (bpd) and is trying to boost output capacity to 12 million bpd by 2017.
(Editing by Chizu Nomiyama) http://www.reuters.com/article/2011/09/24/us-worldbank-iraq-idUSTRE78N33Q20110924 JOEY: IMF says 12.6 this next year..... IMF tells us how smart Shabs is.....Shabs already knew this....day late dollar short....Shabs already knew that..... VIC READS...
Key Industry Leaders to Discuss Current and Future Opportunities in Iraqi Energy Industry at Iraq 2011: Future Energy Conference
Commencing on September 26, 2011, Iraq 2011: Future Energy is an industry summit strategically designed to provide stakeholders in the energy sector with a comprehensive understanding on how to develop a highly efficient and profitable industry with a focus on Iraq.
(Complete article below) LINKImportant sentences in this article....
Adnan Al Janabi, Chairman of the Iraq Parliament's Oil and Energy Committee, will address Iraq 2011: Future Energy, giving a detailed presentation on the Draft Oil Revenue Distribution Law and Petroleum Law. "The most important thing for the Iraqi oil sector is restructuring, part of which involves reinstituting the Iraq National Oil Company and implementing a federal Oil and Gas law," said Al Janabi. "It is a constitutional requirement to implement article 106, the Revenue Sharing Law. However, this cannot be completed without restructuring the oil sector."
Adnan Al Janabi, Chairman of the Iraq Parliament's Oil and Energy Committee, will address Iraq 2011: Future Energy, giving a detailed presentation on the Draft Oil Revenue Distribution Law and Petroleum Law.
"The most important thing for the Iraqi oil sector is restructuring, part of which involves reinstituting the Iraq National Oil Company and implementing a federal Oil and Gas law," said Al Janabi. "It is a constitutional requirement to implement article 106, the Revenue Sharing Law. However, this cannot be completed without restructuring the oil sector."
Simona Marinescu, Senior Economist and Programme Director for Economic Reforms, Iraq, United Nations Development Programme, will also be present at the conference and provide an in-depth and comprehensive presentation on harnessing economic reform in Iraq.
Several leading oil and energy companies will be present and each of them will explain their company's current and future endeavors in Iraq, along with the abundant opportunities the oil-rich country provides.
Mohammed Aboush, Senior VP, Iraq, at Kuwait Energy Company, said, "Iraq is probably the largest underdeveloped onshore oil and gas opportunity in the world. We look forward to acquiring more opportunities in this country and the region in the future as we continue to help governments and the people they represent to gain value from their natural resources."
Fabrice Mosneron Dupin, Global Gas Flaring Reduction Advisor to the World Bank, said, "Gas flaring reduction in Iraq represents a huge opportunity. Iraq flares almost 353 billion cubic feet per year, one fourth of the volume flared in the MENA region, and this flaring could increase dramatically with more oil production in the coming years. This flared gas could rather be used to generate much needed electricity, produce LPG, or feed petrochemical plants - all things that are desperately needed for the benefit of the Iraqi population."
To be held at the Elite World Istanbul Hotel in Istanbul, Turkey, Iraq 2011: Future Energy will take place from 26 - 29 September, 2011. VIC: Unbelievable what this article says..... Vic makes many comments about this article and about the meetings that were held over the weekend....enhance the US....the global markets.....Iraq and the most important thing Joey mentioned earlier ....emerging world economies having to appreciate their currency significantly so they can stabilize global economies.. listen to recording for the rest....(this transcriber cant keep up with Vic ...lol) Joey: They are not wasting any time are they? Joey: Following up with that article you have to have a strong banking sector...article very important Adoption of the loans to pay bills Okiem technology faces the determinants of international
Director General of Industrial Bank's (morning):
BAGHDAD - Hussein Tgb Tamimi
asks a number of local industrialists about the possibility of a cooperation mechanism with the concerned governmental authorities for the establishment of industrial projects, large, especially after it showed government bodies a great desire direction towards activating the industrial enterprises of different specialties, where is the guidance provided significant support to the local economy, through reliance on local product that keeps the money within the country, adding that he is one of the most prominent solutions to the problems of great economic affecting the local economy.
Director General of Industrial Bank Mohamed Abdel Wahab said in an interview (morning) : that the bank is able to provide better services to the Iraqi industrial, and has a great ambition to adopt the methods of work developed, pointing out that the bank has a cadre of specialized systems and modern electronic can facilitate a lot of banking transactions of interest to industry.
"We can deal with global banks and adopt a mechanism to pay bills laboratories and production lines imported from origins world, "but that the problem here is selections seventh item that limit banks' government internationally, where the confiscated funds that are traded internationally, especially as the local banks have the possibility of opening credits and deal with international banks.
He pointed out that the country's emergence from Chapter VII facilitates many of the procedures, as well as reduce the costs to all manufacturers, rather than the use of intermediaries and the accompanying disorder in some cases, as that dealing with global banks directly will be more credible, pointing to the possibility of adopting All banking systems in the world our banks public. Indicating that the idea of lending to industrial sums of money large is important, especially as the idea of paying import bills of factories of Finance through the Industrial Bank is important, so as to ensure the passage of money to its rightful place, which lent to him, but must be preceded by a bypass determinants of international influence much on the fact the local economy. He emphasized that the steps to activate the fact industrial have a significant positive impact on the local economy, because it would keep money within the country.
He continued by saying that the bank is working to build bridges of cooperation with the Federation of Iraqi Industries and Alathadt interested in this matter, for the purpose of examining the reality of the effects and stand at the lending mechanisms and stand at the lending mechanisms and facilitate the process, by raising some of the steps is important and that do not do any good, in order to obtain a loan that does the industrial project, stressing that the projects are monitored continuously and to achieve economic feasibility of the establishment.
and he concluded that the process of repayment of loans going the required level This helps greatly in lending largest number of projects during the capital, and we are facing significant development in the industrial sector will show its results in the coming period. http://www.alsabaah.com/ArticleShow.aspx?ID=14123 Joey: Isnt that incredible... Vic: They just keep getting better and better Vic reads: Shahristani: electricity crisis will end in 2013
http://aknews.com/en/aknews/2/263418/ Joey & Vic discuss: How is that going to happen if they dont RV their currency before then? and discuss the energy crisis done by 2013......Vic explains energy and how this is getting done quick and why..... Joey reads... Talabani to confer with Iraq’s political leaders after end of his New York trip 9/23/2011 12:38 PM BAGHDAD / Aswat al-Iraq: Iraq’s President Jalal Talabani has reiterated in a phone call with US Vice-President, Joseph Biden, to hold meetings of Iraq’s Political Leaders, to settle their differences, according to a Presidential statement on Friday.
“President Talabani has received a phone call during his presence in New York, to attend the UN General Assembly’s meetings in New York, by US Vice-President, Joseph Biden, with whom he exchanged viewpoints about joint relations and means for their development,” the statement stressed.
“Talabani had renewed his country’s keenness to develop the US-Iraqi relations, within the Agreement of Joint Strategic Cooperation, on a platform of cooperation and friendship between both countries,” the it added.
Talabani, the statement confirmed, had “expressed intention to hold a series of meetings, as soon as he returns home, to find solutions and settlements for the issues in difference among the Political Forces in Iraq, as well as reaching decisions and final recommendations for cooperation with the United States, in the field of training and supplies for the Iraqi Armed Forces.”
http://en.aswataliraq.info/Default1.aspx?page=article_page&id=144981&l=1 Joey: Discusses Maliki and Head of Integrity Commission......
Parliament takes back control over Integrity Committee
Baghdad, Sep. 25 (AKnews) - The Iraqi parliament took back control over the parliamentary Integrity Committee from the Council of Ministers yesterday evening.
The majority of the members of parliament voted for the new committee law, despite strong opposition form the State of Law Coalition (SLC) of Prime Minister Nuri al-Maliki.
"The parliament can now assign the new head of the Integritee Committee," said MP Muhammed al-Khalidi.
Until now, the Council of Ministers had the authority to assign the head of the committee. With the new law, the legislative branch receives an important tool to fulfill its main duty, the control over the government, the executive branch.
Iraqi President Jalal Talabani still has to approve the law.
The Ingetrity Committee needs a new chairman after Rahim al-Ugaili resigned last month. Ugaili complained he was lacking political support for his work. Prime Minister Nouri al-Maliki had criticized the Integrity Committee, saying it failed to fight corruption in public institutions.
Al-Iraqiya List, led by former Prime Minister Ayad Allawi, voiced support for Ugaili to be re-elected as chairman.
Corruption has been a major problem in Iraq since 2003. Iraq came fourth from the bottom of the 2010 perceived corruption index published by Transparency International.
Reported by Haider Ibrahim
RN/CU/AKnews http://www.aknews.com/en/aknews/4/263556/ Joey: Took back control..wonder why they did that....hmm This gives them the tool to control the government...control of Maliki They tried to frame Ugaili....doesnt have to do that now....voted against Maliki and took it back Can you say YIPPEE....This in itself will give a great deal more respect for journalists.....corruption will be exposed and eliminated because of this..... Vic & Joey Discussion: Takes a walk down memory lane.....Minister of Electricity and Barzani and Talabani......
sure seems Talabani had to hurry up and get home to meetings......Mr Barzani coming to Bagdhad to see how to show a commitment to IMPLEMENT and ACT! Why the Barzani agreement is important....Why Allawi travelled last week..they took control of the Integrity Commission......(For More listen to recording)
Iraqs integrity uncovers corruption dossiers in Baghdad
Barzani: The objective of the delegation heading to Baghdad, the region is to know the extent of implementation of agreements
Several sentences from article (full article link below)
A statement of the Region from Barzani said during a meeting today with the heads of administrative units in the province of Sulaymaniyah, "The delegation of the region would not go to Baghdad to discuss but to know it will be the implementation of the agreements previously concluded or not, and so we then declare our position on these issues frankly ".
"We are committed to implementing the Iraqi constitution will not allow changing the paragraphs touching the gains of the people of Kurdistan." http://www.alliraqnews.com/index.php?option=com_content&view=article&id=13039:2011-09-23-12-01-59&catid=41:2011-04-08-17-27-21&Itemid=86
Saturday, 24 September 2011, 11:27 GMTErbil, Baghdad enter critical stage
Tensions have recently risen between Baghdad and Erbil after the Kurdistan Region Government rejected the country's proposed Oil and Gas Law.
Relations between KRG and Iraqi Prime Minister Nuri al-Maliki's coalition, the State of Law coalition, are in a critical situation. The Kurds believe the new Oil and Gas Law would allow the federal government to "exploit" the country's oil wealth at the expense of the Kurdish Region. They also argue that the Baghdad Council of Ministers did not follow the legal process when it approved the law.
Currently, there is war of words and actions among Iraqi main political groups. And the Kurds, the Iraqi kingmakers, are at the center of the fight. Kurdish leaders accuse the Iraqi leadership of breaching political agreements between Erbil and Baghdad. The agreements were in place before the current Baghdad government was established. Before the Kurdish leaders decided to ally with Maliki to form a new government, Kurds had 19 conditions for Maliki and said Maliki's new government must implement them. Now Kurdish leaders feel Maliki has "broken his promises
"The current [Baghdad] government was established with a lot of effort on the part of the Kurdistan people. We must be a real partner in the Iraqi government," Kurdistan Region President Massoud Barzani told hundreds of people during his visit to Soran, a city north of Erbil. Barzani said power-sharing is the main reason for Iraqi stability.
Regarding oil revenue, 17 percent of the Iraqi budget is allocated for Kurdistan Region, but what Kurdish leaders want is that Kurdistan to get the 17 percent directly, not through a minister in Baghdad who is in charge of it and sends the money piece by piece according to his mood, Barzani said.
Most recently, Kurds have threatened to withdraw from the Iraqi government if the Baghdad government does not abide by the Iraqi Constitution and the 19 points agreed upon between Kurds and Maliki. Meanwhile, Kurdistan Region Prime Minister Barham Salih postponed his planned visit to Baghdad, expressing dissatisfaction with Maliki's behavior.
"If the Kurds do not see that the other party is serious about the agreements, then there is no point in our delegation's visit," said Muayyid Tayyib, spokesman for the Kurdistan coalition bloc in the Iraqi Parliament.
The bitter relations among the main three political groups, Kurdistan coalition, the State of Law and Iraqiya party, led by Iyad Allawi, has made Kurds and Allawis move closer. Iraqi Parliament Speaker Osama Nujaifi, once one of the Kurds' most difficult rivals, and one of the Iraqiya party leaders, visited Kurdistan Region last week and met Barzani. Arab Sunni leaders have accused Maliki of trying to concentrate power and impose his party?s will on Iraq?s future.
According to Muhammad al-Khalidi, MP from the Iraqiya party, changes may occur in alliances after the meeting between Barzani and Nujaifi. "The changes will lead to change on the political map in the country." Nujaifi has proposed an initiative "to solve political blocs' differences, starting with solving conflicts among the parties, including the differences between Baghdad and Erbil," according to a statement issued by his office.
The statement, added that the initiative has new trends that will eliminate all obstacles that hinder the basis for a new Iraq. "The initiative aims at developing a national partnership with comprehensive perspectives, not limited, as previous ones," the statement added. Furthermore it pointed out that the security vacuum in security posts was one of the points in the initiative, as well as the political and economic reforms, national and constitutional balances, necessary constitutional amendments, developing democratic potential and the organization of the armed forces.
Maliki's State of Law coalition is displeased with Nujaifi's visit to Erbil, and described it as a provocation.
However, some Kurdish politicians still believe there is a chance for Kurds and Maliki to solve their differences. "If Maliki send signals that he is ready to implement the agreements, then Kurdish delegation will visit Baghdad," said prominent Kurdish politician Mahmud Othman.
Kurds believe their relationship with Iraqi Shiites is vital, and they cannot afford to break it. "No one can create a schism between Kurds and Shiites," said Barzani during his speech in Soran.
The Kurds' 19 points
- Abide by the Constitution and all its articles, without selectivity.
- Protect the federal democratic system.
- The formation of a national partnership government contains the main Iraqi components.
- The partnership and participation in the decision-making.
- The formation of a national security council.
- Establish an internal mechanism for the Council of Ministers to set the references of the national security council.
- The distribution of administrative and financial authority among the prime minister and his deputies.
- The formation of the Federal Council during the first parliament calendar year. During the formation, the president of the republic and his two deputies are authorized to use the veto.
- Amending the election law to achieve equitable representation of Iraqis.
- Start a population census according to the schedule.
- Review the structure of the armed forces and security forces.
- Apply Article 140 of the Constitution and the provision of the required budget for its implementation during a time frame of two years.
- Support the Kurdistan Alliance?s candidate for the presidency.
- The representation of Kurdistan in the sovereign ministries, the Council of Ministers and the independent bodies of all the state's institutions according to the quota system.
- Kurdistan's right to decide on the candidates of sovereign ministries and other ministries relevant to Kurdistan Region.
- The secretary-general of the Council of Ministers to be elected from the Kurdistan Alliance bloc, and to consider the coalition government resigned if the secretary-general withdraws from the council. http://www.kurdishglobe.net/display-article.html?id=EBFE461ABE7D97F983014EBB27664E28 Joey: Interesting...there are some very good men in Iraq who care very much for their govt.... Vic: Lengthy Discussion about how much money they are getting ready to receive...oil sales....unbelievable Joey: Thats why the people at Citibank said that within 10 years People of Iraq will have a better lifestyle than the people of Dubais Sounds like good stuff ahead for them........everything just keeps getting better and better for the people of Iraq. Joey reads a few sentences about the troops...from the following article (click on link for full article) "the gate of Iraq" BAGHDAD
- The United States warned Iran of continuing to target its troops in Iraq by providing support to armed militias, saying it will not stand "idly by", also commended the efforts made by the Government Baghdad, Iran has to stop such attacks, while stressing the need to know that the recent U.S. military will remain in the country for "some time".
The defense minister said Leon Panetta, before the Armed Services Committee in the Senate on Thursday, "We must understand Iran that we will be here (in Iraq) for some time, and we assure them (the Iranians) that we will not ignore what Iran is doing in Iraq."
For his part, chairman of the Joint Chiefs of Staff U.S. Army, Admiral Mike Mullen, "We have warned the Iranians that the United States will not stand by and watch or idle, and its troops are being harmed by militias supported by Iran in Iraq," noting that "Tehran shipped weapons, including rocket-propelled grenades to militias Shiite operating in Iraq. "
Mullen explained, "although such attacks by groups linked to Iran have receded since the summer, the United States will not ignore it if repeated."
Panetta said, Mullen said that "The attacks stopped after a group of military and diplomatic efforts made by Baghdad to Tehran," at the same time stressing that "the likelihood of such attacks is still there." http://www.sotaliraq.com/mobile.php Joey reads from the following article:
Road Out of Iraq Brings Speed Bumps for U.S.
U.S. Army soldiers make their way to a C-130 aircraft at Sather Air Base in Baghdad, Iraq to begin their journey home to the United States. http://www.foxnews.com/world/2011/09/23/road-out-iraq-brings-speed-bumps-for-us/ Deb reads from the following article:
US military’s radio in Iraq goes off air
US Staff Sergeant Brad Ruffin works at AFN-Iraq radio station in Baghdad yesterday http://www.gulf-times.com/site/topics/article.asp?cu_no=2&item_no=460007&version=1&template_id=37&parent_id=17 Deb Reads: Allawi/Saleh confirm necessity to implement Arbil Agreement
ARBIL / Aswat al-Iraq: The Chairman of al-Iraqiya Coalition, Iyad Allawi, has discussed the political developments in Iraq with Iraqi Kurdistan’s Premier, Barham Saleh, in a meeting they held in Arbil, in which both sides have confirmed necessity to implement the Constitution and the Agreements, concluded among different Iraqi parties to form the government of national-partnership.
A statement by the Council of Ministers of Kurdistan Region has reported on Sunday, with copy received by Aswat al-Iraq news agency, that Iyad Allawi had reached in Arbil early in the day, where he conferred with Barham Saleh, where they discussed the current political situation in Iraq and means to settle the current crisis.
“Both sides have confirmed necessity to practice the Iraqi Constitution and the implementation of the agreements concluded among different Iraqi parties to form the government of national-partnership,” the statement said.
It stressed that both sides have reiterated “necessity to join all Iraqi components in the political process and to steer the country and to create necessary circumstances to settle the current crisis,” confirming “necessity to return to the Iraqi Constitution and the Arbil Agreement, making it the road-map to settle all problems.”
In conclusion, the statement confirmed “necessity to respect human rights principles, the federalism, the right of partnership of all Iraqi components in power and necessity to settle all suspended issues between Arbil and Baghdad.”
SKH (RT) http://en.aswataliraq.info/Default.aspx?page=article_page&c=slideshow&id=145021 Joey: Its time...been time for awhile....... Deb...Yes it has... Joey....The IMF article was soooo good..it gave me shivers when I read it.... Q & A followed....Iraq & Dinar Questions
Vic: Shared an Obituary called "Common Sense"
A must-read obituary (OLD OLDIE)
If this doesn't hit the nail on the head! Heed warning before it is too late!
An Obituary printed in the London Times - Interesting and sadly rather true:
Today we mourn the passing of a beloved old friend, Common Sense, who has been with us for many years. No one knows for sure how old he was, since his birth records were long ago lost in bureaucratic red tape. He will be remembered as having cultivated such valuable lessons as:
- Knowing when to come in out of the rain;
- Why the early bird gets the worm;
- Life isn't always fair;
- and Maybe it was my fault.
Common Sense lived by simple, sound financial policies (don't spend more than you can earn) and reliable strategies (adults, not children, are in charge).
His health began to deteriorate rapidly when well-intentioned but overbearing regulations were set in place. Reports of a 6-year-old boy charged with sexual harassment for kissing a classmate; teens suspended from school for using mouthwash after lunch; and a teacher fired for reprimanding an unruly student, only worsened his condition.
Common Sense lost ground when parents attacked teachers for doing the job that they themselves had failed to do in disciplining their unruly children.
It declined even further when schools were required to get parental consent to administer sun lotion or an aspirin to a student; but could not inform parents when a student became pregnant and wanted to have an abortion.
Common Sense lost the will to live as the churches became businesses; and criminals received better treatment than their victims.
Common Sense took a beating when you couldn't defend yourself from a burglar in your own home and the burglar could sue you for assault.
Common Sense finally gave up the will to live, after a woman failed to realize that a steaming cup of coffee was hot. She spilled a little in her lap, and was promptly awarded a huge settlement.
Common Sense was preceded in death
by his parents, Truth and Trust,
by his wife, Discretion,
by his daughter, Responsibility,
and by his son, Reason.
He is survived by his 4 stepbrothers;
~I Know My Rights
~I Want It Now
~Someone Else Is To Blame
~I'm A Victim
Not many attended his funeral because so few realized he was gone. If you still remember him, pass this on. If not, join the majority and do nothing.
.a.b. Next Call Tuesday Sept 27, 2011 8 PM EST 760-569-7676 Pin 219055# or
Back Up Pin (Listen only) 709973# www.theiqdteam.com As Always.... The Latest Iraq/Dinar Discussion and Analysis Post & Pre RV