Let me post the headlines from the last 12 hours from IRAQ. There is alot of work going on behind the scenes.... this is long post for all IRAQ investors to read at lunch headlines, gurus, summaries with commantaries...johnny nego udoibe *****Abadi: the economy would eliminate terrorism***** -Vice Kurdish: Malikis bloc sought to block the implementation of the terms of the recent agreement between Erbil and Baghdad -Rafidain Bank supports smart card regardless of pensions in Abu Dhabi -Kurdistan Alliance demanded an end to disputes and approving the budget -Parliamentary economy next month plans to hold a conference to discuss ways of investment promotion -Adviser to Prime Minister reveals the economic laws revive the market and investment -Abadi, head of the World Bank and discuss the governments efforts to restructure and reform the Iraqi economy -Finance wrong policies of the government of al-Maliki behind budget preparation efforts fail -Exchanges between OPEC and the oil companies in Davos -Abadi undeniably cooperation with Soleimani, but it denies the existence of Iranian soldiers in Iraq - MINISTRY OF PLANNING WEBSITE - SPEAKING TO PRIVATE SECTOR DEVELOPMENT -Abadi: We seek to reduce dependence on oil imports -A senior source: There is a great reforms in the judiciary and Medhat al-Mahmoud, the first excluded -Member of the parliamentary energy: the adoption of the budget to export three million barrels of oil is realistic -For Oil and Energy Committee held a meeting to discuss industry salaries and visit Kurdistan region -Parliamentary security is required to issue an amnesty for members of the armed forces #IRAQ #GURUS 1-24-2015 Newshound Guru Kaperoni ...the recent articles from the CBI indicating they are ready to “participate and promote development” are encouraging. I want to point out that Dr. Bakri [Economist] states the dinar first needs to improve (raise in value) before they can move to Article VIII. In other words, the float may be institutional and gradual before they accept Article VIII and a new Exchange Regime. I also get the impression that the dinar can be convertible worldwide without technically accepting Article VIII. And lastly, he says... improvement comes through delete some zeros which to me again seems to imply a gradual appreciation because as the dinar rises, zeros begin to go away... he did...confirm the process is moving along, that the reforms are happening, and there is promise...and more importantly the new GOI is moving in the right direction. Iraqs economy is complex for sure. But I dont think what we are looking for will take much longer. As for currency reform, the timing will be kept secret within the CBI... 1-24-2015 Newshound Guru wmawhite Iraq has told us that they want to join the world financial markets...and they want investors...in order to do both Iraq via the CBI has to promote confidence in the IQD...to do that the CBI needs to add value to their currency. 1-24-2015 Newshound Guru Tlar One thing I have always thought is that any change in value will have to come just before the budget is printed in the Gazette. If that is true then it follows they cant pass the budget without first changing monetary policy. If this is true then it might answer the question of why the budget is taking so long to fix. Iraq seems determined to pass this budget quickly and all parties are on board, but to make the changes and modifications should not take weeks as it has done already especially in light of the fact that they are in such a hurry. Word processors should be able to do this overnight. Not take weeks. Something else IMO is holding up the vote and I think its the rate. Both readings are done leaving only the vote but they keep putting it off. My personal opinion is that the hold-up is the rate and we wont see a vote until we see monetary change because IMO the budget cannot be opened at 1166. As I say this, we all know this is Iraq so we know they CAN open it at 1166 but IMO they wont. #IRAQ #SUMMARIESANDCOMANTARIES aggiedad77 » January 24th, 2015, 10:28 am Saturday News Summaries and Commentaries Good morning Family, some news is surfacing regarding the budget....perhaps looking for a vote later this week.....the current crisis within Iraq is not believed to have long lasting affects on their economic resources provided they are developed properly..... Dr. Saleh speaks out again regarding economic stability brought about through a marriage of public and private sectors and interests.....we see the further desire to distance the state government from local work and issues within the provinces...this can only be good news in my book. Finalization of the initial draft of the Central Bank and the legal amendment banks .... The Economic Committee reports completion of the draft amendment that will have impact on both the Central Bank and private banks that dates back to 2004.....it is stated that this draft amendment will work in conjunction with the Investment Law in support of the Iraqi economic situation as well as allowing more opportunities to address the current financial situation within Iraq..... This amendment will assist the agricultural and industrial sectors by bringing forth more loans to business people and encouraging the further opening of private banks to assist with the process.....also working in tandem with the Banking Act and the Investment Law this amendment will bring about a boost to the economy.... I believe this to be a well-orchestrated effort on the part of the government. Rafidain Bank supports smart card regardless of pensions in Abu Dhabi The Rafidain Bank is supportive of using the new smart card in the UAE for Iraqis retired there....this will make payments to them for their salaries much easier and much less risky than having to deal with cash....the COM is pushing for this kind of measure in all areas possible for the improved safety and protection of Iraqis....at the same time it improves bank liquidity and expands credit capabilities. Abadi and World Bank President discuss efforts in restructuring the Iraqi economy Further confirmation of the discussion between PM Abadi and the leader of the WB yesterday with the WB showing full support for Iraqs efforts regarding fighting terrorist activities while at the same time working to right their economic issues. Parliament to raise its seventh day after Monday Basically it sounds like Parliament got some work done today, but has also passed or postponed some work, including a vote on the budget until Monday. Consultant Abadi reveals near the issuance of important economic laws revive the market and investment Dr. Saleh continues to talk encouragingly about the marrying of the private and public sector efforts as they continue with their work to reestablish their economic stability....thus leading them into a strong market-oriented economy....this will come about through the continued focus upon development of commodity sectors and promotion of production within Iraq....PM Abadi spoke in Davos of shifting control from the government to more within the hands of the people at the local levels promoting more privatization of economic restructuring for Iraq. Babylon Trade warns of financial crisis and lack of liquidity The Babylon Chamber of Commerce points to the current financial crisis and the ongoing lack of liquidity as being real problems for the stimulation of projects within the province....they are calling for the government to stem the flow of imports giving Iraqis the opportunity to provide for themselves... They place the blame not on the current government but the failure of the previous government to produce a working budget for 2014 as the issue....I think they see the current government as being the saving force in the near term. Work: retrieval of more than 58 billion dinars from the squatters on the subsidy of social protection The Ministry of Labor and Social Affairs has recovered more than 58 billion dinars found within corrupt efforts associated with some form of social protection....more payoffs of graft for people who probably didnt exist between 2010 and 2014....PM Abadi continues this crusade against corruption and continues to show winning efforts and results. Iraqs economy will not collapse and will exceed the financial crisis both locally and internationally Long article that starts out talking specifically of Iraq then trails off with talk on the global level markets....from Iraqs stand point this economic expert believes that Iraq does not lack in economic resources...especially over time....they definitely must overcome the short term economic issues they face....but the current crisis will not or should not cause a collapse in the Iraqi economy... It is recognized that Iraq has many resources within its borders but it must learn to effectively manage those resources to grow as a world leader....it appears to me that for once economists and the government officials in power to do something about change are finally talking on the same page for Iraq. Baroness Nicholson meets with Iraqi PM These two discussed trade and industry relations between Iraq and Britian....there seems to be a great amount of phoo-phoo talk and rhetoric that makes me wonder if some other agenda was being veiled here as well.....one never knows until something surfaces later that sparks a memory...oh yes there was that meeting.....just working the mind outside the box here....in honesty it is good to see these two getting together and showing support for the efforts of the Baroness and her far reaching work within many areas of Iraq at the present time. Finance Committee confirms the possibility of adoption of the budget during the current week A member of the Finance Committee spoke and has related that the committee is ready to push the budget for 2015 back to Speaker of Parliament for a vote probably later this week....will that be on Monday....remains to be see at this point....he spoke regarding the Kurd 17% of the budget and says it remains intact that this time....and the Peshmerga will be paid as part of the Iraqi ground forces allocations....meaning I believe they will receive payment just as other Iraqi armed forces are paid BLC Admin Tlm724 News & Comments 01/24/2015 Abadi: the economy would eliminate terrorism [tlm724] He said the Prime Minister, Dr. Haider al-Abadi, through a meeting with the founder of the World Economic Davos Forum on Friday, said that to move forward the development of the national economy, the sponsor is the elimination of terrorism. [tlm724] no doubt a strong unified Iraq can conquer, act together to a common end and lead the Middle East economically and as an example of democracy ! ~~~ Kurdistan Alliance: the budget was completed and the parliament will vote on this week [tlm724] the budget was completed and the parliament will vote during the current week. *hallelujah* lets get this budget done and move on to the important laws such as the CBI Law and the investment law, line em up Wink ~~~ Rafidain Bank announces issuing smart card for retirees in Abu Dhabi [tlm724] The delegation consists of Rafidain Bank staff and the companys global smart card visited Abu Dhabi branch briefed on preparations for the menu to activate the card ironing service [tlm724] has issued the first smart cards for retirees living in the United Arab Emirates, where the process can receive their pensions easily and without suffering as it was in the past through the receipt manually. [tlm724] there we go smart cards working well outside the borders of Iraq ~~~ Abadi review with the World Bank Iraqs economy and restructuring [tlm724] , the relentless government to restructure the Iraqi economy and transform these challenges into opportunities for direct program of reform efforts real and effective in the field of economy and governance. *mission* [tlm724] President of the World Bank, according to the statement for the full support of the bank vision put forward by Prime Minister Haider al-Abadi at the World Economic Forum in Davos and praise the steps initiated by Iraq in the field of administrative reform [tlm724] The World Bank approves and will support Abadis plan ! ~~~ Committee of Parliament for the control and follow-up paper political agreement meets tomorrow [tlm724] House Speaker Salem al-Jubouri, during a meeting today with heads of political blocs was agreed to hold a meeting on Sunday of the committee monitoring and follow-up paper political agreement in the presence of members of the Presidency. ~~~ Planning develop an economic plan for four years [tlm724] The program is based on upgrading the service and the standard of living of the citizen through the development of the economy and ensure consumer protection and the resolution directed the Iraqi economy to a market economy and give the state a gradual economic activities and the development of foreign trade and trade transit, free zones and to reconsider the financial and fiscal and monetary policy. [rsp1] *hallelujah* [tlm724] The plan places the development of foreign economic relations with the countries of the world of great importance, in order to link the Iraqi economy, the global economic system-as well as the organization of trade and economic relations with these countries. [tlm724] link away friends ! ~~~ A Vision for Iraq Prime Minister Haider Al-Abadi World Economic Forum, Davos [tlm724] here is the link to PM Abadis speech, we encourage you to read it. It is easy to read and he outlines his plan in terms that everyone will understand. It is very interesting and informative ! bondladyscorner/t112054-a-vision-for-iraq-prime-minister-haider-al-abadi-world-economic-forum-davos
Posted on: Sat, 24 Jan 2015 16:58:40 +0000
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