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Aggiedad77: Thursday News Summaries & Commentaries - 4/9/2015


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Aggiedad77: Thursday News Summaries & Commentaries - 4/9/2015

Post From KTFA by aggiedad77 » April 9th, 2015, 10:27 am • 

Thursday News Summaries and Commentaries

There are some very good and interesting pieces in the news today....sit back grab some coffee and enjoy as we hear from the CBI today......and meanwhile certain ones in Parliament continue to complain no matter what is done or who does it.....they complain.....

if I say the sky is a beautiful blue this morning....their complaint would be that it should be a deeper blue.....if I gave them a macadamia nut cookie....they would complain that Frank took a bite first....well that one I can understand.....LOL.....Happy Thursday everyone.

Legal Committee sent the draft constitution for the presidency of the Kurdistan Parliament

Legal Committee of the Kurd Parliament has sent a draft of their new constitution to the Speaker of the Kurd Parliament so that it may be brought up on a vote...

there are 11 Articles in the document it appears....the Kurdistan Democratic Party was the only real opposition to the document but they apparently have come around and now stand in agreement as well.....guess they await a vote on it.
~~~
Central Bank doubles the share of banking companies of the dollar and other open ports

The CBI seems to have worked out a way in which to reduce the price of the dollar in the Iraqi market, the street value.....they are authorizing the opening of twice as many banks or windows to sell the dollar....

this is especially true with the Rasheed, Rafidain, and Trade Banks who sell to companies and small importers.....this comes in conjunction with new CBI mechanisms put into place since the ceiling was placed on the currency auctions by the 2015 budget, Article 50....

this doubling of windows should slow if not stop the rise of the dollar against the IQD.

Parliamentary Finance: the central bank is likely issuance of large coins

The CBI met and talked at length with the Finance Committee....the bank has been trying to reduce the number of bills on the street, we've seen evidence of that for months.....

meanwhile the CBI is trying to do what it can to support the integration of private banks so these banks will gain credit strength from the CBI and solidify their banking transactions.....

as we are seeing from I-Teams reports the CBI is actually more ready to implement a change in the currency than most people want to let on....hang on....it is coming.....keep the faith....

the BEST is yet to come.....listen to your IQD it is saying....."Hold me...hold me....never let me go....Hold Me"......but spring is in the air....and time is ripening.

Center sends third batch of the Kurdistan Regional staff salaries

So another 527 billion dinar is shipped to the Kurds.....piecemeal work....who has kept track of all these "little" shipments...maybe the plane can only hold so much....maybe this or that.....

but at least they are getting something....I just wonder who is keeping the books straight on all this...maybe it's TopShelf....he seems to understand the spreadsheets....

the Kurds are saying this still isn't enough....that 820 billion per month are needed for salaries....what happened to just over 1 trillion per month.....why has that number dropped....hmmmmm....a change in currency that could be coming perhaps.

Parliamentary Finance commends the central measures to reduce the guarantees on loans

So is the CBI not looking or scrutinizing the loan process as closely as they once were doing....is that freeing up more loans for citizens and businesses....

if so this will certainly do what the Finance Committee is saying....expand the base for granting of such loans.....but where is the money coming from for these loans in the first place.

Forming a mini body to address the outstanding problems between the investor and the investment bodies

From within the Economy and Investment Committee comes a subcommittee who has the responsibility to look at issues between the investor and the investment bodies....

this in conjunction with the main committee's efforts to get the Investment Law passed....hopefully this subcommittee will help in ways that will continue to look for red tape that can be eliminated.

Compel Iraq's Kurdistan Regional Government, the implementation of legal customs tariff and the general budget of the Federal

The COM is looking to the Kurds to get up and do something.....start implementing the 2015 budget and the taxes and tariffs like you are supposed to be doing....you know....like the rest of Iraq is doing.....if it applies to the rest of Iraq it applies to you guys as well....so just do it.

Special / reconstruction fund liberated areas looking for external support, we need to weaken the government allocated

Remember Turki......the former governor of the CBI he now heads up the reconstruction committee work for liberated areas of Iraq....he is seeking grants and loans and money in general to help with all reconstruction work in those areas formerly held by DAASH or that have been damaged in the battles against DAASH....

the Iraqi government just doesn't have enough funds to deal with all the reconstruction needs for those areas of the country....

he is planning a conference in April at the international level to invite countries and companies in to see first hand what is needed and how they can step up to the plate to offer humanitarian aid and money to help these areas of Iraq get back on their feet.

Conscious / Higher Committee for the displaced discuss mechanisms Issuance of smart card and near the opening of a residential complex in Baghdad

They continue to work with the issuance of smart cards for those who are classified as displaced citizens....sound like they may populate the cards with 10,000 IQD to start with.....

not much but better than nothing I guess.....at the same time they are working on improvements to services for these folks.....that is probably a greater need for them at the moment.....

better services.....housing is also being addressed....humanitarian efforts it seems....

but this is just a spit in the bucket....it needs to rain help on these folks who have been kicked out of their homes and businesses now for at least a year.....they need attention.

Conscious / high dollar is intentional and the government to take the necessary measures

A Kurd MP is claiming the rise in the price of the dollar has been an intentional effort and looks to the government to take necessary action to put an end to it......

he looks to the Finance Committee to stop the rise or else goods will stop being sold and they will see a recession....

my thoughts on this tend to lean against the Finance Committee or at least some of its membership as being the ones who were the drivers of the problem....

they brought this upon Iraq with the spawning of Article 50 that put the CBI auctions in a pickle....yet no one wants to look that jackal in the face and call it what it is....beware of what knocks on your door in sheep's clothing.

Najiba Najib: The government and the central bank behind the rise in the dollar rate against the dinar

Well this member of the Economy and Investment Committee has half of the equation right....the government....

the Finance Committee within Parliament is the culprit with their creation of Article 50 in the budget....has been the cause of the rise in the dollar rate.....the cause for supply and demand issues....

the CBI has just been attempting to create what they call "mechanisms" that can deal with the Article 50 limitations.....they have essentially been hamstrung by this article.....

and what we see are the backlash effects from it....not something the CBI has caused....

yes the answer to the problem would be to repeal Article 50 and allow the CBI to get along with its business....something it has been doing for the past 10-12 years....

if you suspect money laundering or smuggling of currency.....go after the bad boys.....if it were truly the CBI that was guilty....the Integrity Commission would have already been all over them.

Jubouri: The government may cut salaries over the next two months if oil prices continued to decline

Speaker Jubouri related today that Iraq may have to consider cutting employee salaries over the coming months if the price of oil continues to spiral downward.....drastic times call for drastic measures....

reminds me of the days back in the 90's or so when oil was at its lowest and gas prices were tanking really badly.....oil companies were laying off big time, bonuses dried up, and raises became non-existent.....

you do what you have to do to protect the bottom line.....to stay afloat.....knowing that things tend to be cyclical...and good times will return.

Consultant Abadi reveals reasons for the high dollar selling price

Dr. Saleh spoke again...and when he does....people should listen....he speaks with authority and experience.....supply and demand issues are the first reason for the high dollar prices against the IQD.....the sharp drop in oil prices has hurt Iraq in a very significant way....

which in turn has directly impacted the 2015 budget.....the other reason...and I think the most significant reason of all is the inclusion of Article 50's cap of $75 million on the daily auctions by the CBI....

the Finance Committee went meddling where they had no business sticking their noses...and now they are too prideful to admit their error...but listen to Dr. Saleh....he is not afraid to point the finger at them.

Badr block: Abadi visit to Kurdistan and oral understandings put into practice and application

Several political blocs see PM Abadi's recent visit to Erbil as being a good thing....continuing the dialogue between the central government and the Kurds....

pushing for further agreements between the two.....they have shown a willingness to work together as a team in combatting DAASH and liberating areas within the region...

and continuing in this same direction towards the liberation of Mosul in coming days or weeks......

now if they can just continue to seek common ground with regards to oil and gas issues and payment of Kurd employees and the Peshmerga.

Cabinet will discuss next week the reconstruction of the liberated areas Fund Law

The COM is working feverishly on some way to rebuild the funds in the reconstruction area of the budget to help facilitate the rebuilding within the Salahuddin province of Iraq...

that area most recently liberated from the clutches of DAASH....in order to make this happen they must also put the law before Parliament in as swift a time frame as possible.

Widening the circle of those who reject the appointment of heads of independent bodies acting

PM Abadi is being called to not go the way of his predecessor in naming people to positions based on his on inclinations but to rely on the vote and desire of the people....on the merits of the electoral and political process...

I highly suspect that Abadi is all for following the correct protocol...but will also insist that the right person be put in the right seat on the bus....

there are certain qualifications for various positions and those qualifications must be met at all costs regardless of what votes might say.....but he stands against giving positions because of favor to one group or another.....good for him.

Islamic State “Controls Just One Oil Field in Iraq”

ISIS funding dwindles as it's control over areas of Iraq start to significantly dwindle....this includes their possession of oil fields too....

they are down to one field that remains in their clutches at this point in time....may their funds shrivel up and leave them empty handed and hungry.....totally lacking in any ability to fund their barbaric drive.

Coffee break.....go grab a cup and head to the bathroom if you need to....it's a great day today.....just because God gave it to us....enjoy it to the max. 

Aloha Randy
 
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