Al-Abbadi returned disappointed with Davos after hearing harsh words

[yota691]

On 1/26/2018 at 9:54 AM, bostonangler said:

Why does podium say 2015????

It's a File Photo...

[DinarDavo]

Putting the " war on coruption" on hiatus until after the election can't help.....apparently we are not the only ones that wonder why Maliki has not been contained.

[Floridian]

58 minutes ago, yota691 said:

Al-Abbadi returned disappointed with Davos after hearing harsh words

 

 

Number of readings: 1919 29-01-2018 02:38 PM

 

 

29-01-2018 02:38 PM 

 

LONDON (Reuters) - Prime Minister Haider al-Abadi has returned disappointed after hearing harsh words from donors and presumed investors when he offered to help Iraq, the London-based Arabic newspaper Al-Arab reported on Monday. 

The newspaper said today that Abadi faces a great challenge in persuading foreign donors and investors to work in Iraq in light of the spread of corruption and lack of political and economic guarantees. 

Abadi seeks to provide international funding in two directions, the first in the form of grants and international grants, and is directed towards the reconstruction of basic infrastructure in the liberated areas, and the second in the form of investment opportunities, to create residential, commercial and recreational projects. 

The newspaper said that 'leaks from the scenes of the Davos conference, held in Switzerland recently, indicated that Abadi' heard harsh words, from donors and investors presumed, when he offered them to help Iraq '.

She added that donors are afraid to waste their money in the reconstruction and investment assumed, in a country competing at the top of the list of failed states, because of the spread of corruption. 

State institutions suffer from a severe bureaucracy, and administrative transactions can only be accomplished by paying bribes to corrupt officials who control the decision. 

Many of the special grade employees in the Iraqi government belong to political parties, with whom they share the commissions they provide. 

Despite many legislative reforms introduced by Iraq on investment laws, the legal environment appears hostile to foreign investment, observers say. 

They say that many legal contracts are still being put in the way of foreign investors contemplating coming to Iraq, with the aim of forcing them to pay commissions to facilitate their contracts. Sometimes commissions are about half of the expected profits. According to the newspaper.

"It has become widely known that Baghdad's reputation does not encourage investors to venture with their money in a country that is still classified as the most dangerous country in the world. And there are those who firmly believe that the donations will not go for the reconstruction of cities destroyed by the war on the Dahesh, in light of the dominance of armed parties and organizations on the street and a large part of the joints of the state. 

She explained that in the absence of confidence in the Iraqi government, the figures put forward by that government seems a kind of imagination that will not strengthen the global investment market to turn it into reality. The convening of the donor conference in Kuwait may seem a bad message to some Kuwaitis who still insist on not canceling the remaining compensation. Which will be an additional obstacle to dealing with investors and donors with Iraqi demands.

Economic and financial experts do not expect the conference to produce miraculous results and miracles in light of the inability of the Iraqi government to provide realistic guarantees to those seeking to help Iraq, making hopes on the conference closer to dreams. 

Abadi is betting on persuading the international community to provide a fair portion of the funds Iraq needs. But first he needs to gain his trust. International donors are expected to meet on February 12-14 in Kuwait to discuss opportunities to help Iraq. 

Baghdad is counting on this conference to launch a massive reconstruction campaign in the country, drawing on a series of pledges and actions it will take to convince donors to provide their money.

Ebadi's Baghdad office seems confident of its ability to convince donors at the Kuwait conference, but diplomatic sources say the Iraqi government does not have enough arguments to gain the confidence of foreign capitalists. In devastated provinces such as Nineveh and Anbar, the work of foreign companies appears to be a source of political competition amid the chaos that prevailed there after the liberation. The newspaper reported. 

Mosul, Nineveh, and Ramadi, the center of Anbar, have suffered extensive damage to the infrastructure and homes of residents, turning into two large fronts during the war against an oppressive organization. Political unrest prevails, and their administration is competing for power, most of whom are accused of corruption. 

Diplomats say donors and investors may choose to channel limited funding to specific projects in Iraq to test the possibility of success. Anbar province appears to be a candidate for this experiment.

Anbar is bordered by three countries - Syria, Jordan and Saudi Arabia - which makes it easy for companies to access. 

The Iraqi government believes that the international community will help it provide a normal living environment, prevent the emergence of violent extremism linked to authoritarian policies involving previous governments and characterized by poor distribution of wealth. 

Iraq has suffered a large deficit in its financial budget, forcing the country to undergo austerity measures during the past three years, which also witnessed the control of an organization on a large part of its territory. Iraq was unable to recover its territory, except by spending billions of dollars on military operations, which subsequently destroyed entire cities. 

Iraq was forced to seek international loans, constrained government spending on difficult terms, and raised fuel prices, which the state subsidizes production.

According to Iraqi estimates, the country needs about $ 100 billion to fund large-scale reconstruction, in areas that have been restored from a hasty organization.

 

 

OMG!  Can it get any worse than this?  Last night, I thought for sure we would have the RV during the Kuwaiti Conference.  Now, I feel it is far, far away.   

 

Al-Abbadi returned disappointed with Davos after hearing harsh words

"Economic and financial experts do not expect the conference to produce miraculous results and miracles in light of the inability of the Iraqi government to provide realistic guarantees to those seeking to help Iraq, making hopes on the conference closer to dreams."

 

"Ebadi's Baghdad office seems confident of its ability to convince donors at the Kuwait conference, but diplomatic sources say the Iraqi government does not have enough arguments to gain the confidence of foreign capitalists."

Edited January 29, 2018 by Floridian

[King Bean]

And yet...there is Maliki (a cancer)...right in the middle of this huge mess that he and his cronies created by stealing the country blind over 8 plus years. Abadi has tip-toed into attacking corruption, something that is inbred into the very fabric of Iraq life. The $300 BILLION Maliki stole would make Iraq another Dubai. Brilliant. Magnificent. The Kuwait conference isn't, in itself, going to bail Iraq out of it's mess. Abadi needs to attack the problems. But will he do it with elections 3 months away??  Sure they've kicked ISIS to the curve, but that won't fill empty stomachs of the thousands of homeless. Time for a big change. 

[Bama Girl]

I suspect investors feel as we do, the corruption is not under control. Until  investors know their investment is not going to be stolen and their employees are going to be safe, they are neither going to put their dollars nor their money in Iraq. A lot has been done in Iraq but there remains a lot to be done imo before Iraq can be considered as stable. 

[10 YEARS LATER]

How us any if the " Harsh Words " a disappointment or a surprise. It's all so obvious. One day they'll get clued in. Meanwhile, take your heads outta your butts and do what needs to be done.

 

Good God Almighty these people are infuriating.

[Half Crazy Runner]

18 minutes ago, 10 YEARS LATER said:

How us any if the " Harsh Words " a disappointment or a surprise. It's all so obvious. One day they'll get clued in. Meanwhile, take your heads outta your butts and do what needs to be done.

 

Good God Almighty these people are infuriating.

 

I’m taking that headline with a grain of salt seeing how it seems to be based on this anonymous hearsay  -  

 

The newspaper said that 'leaks from the scenes of the Davos conference, held in Switzerland recently, indicated that Abadi' heard harsh words, from donors and investors presumed, when he offered them to help Iraq '. 

[Bama Girl]

1 hour ago, Bama Girl said:

I suspect investors feel as we do, the corruption is not under control. Until  investors know their investment is not going to be stolen and their employees are going to be safe, they are neither going to put their dollars nor their money in Iraq. A lot has been done in Iraq but there remains a lot to be done imo before Iraq can be considered as stable. 

Just noticed my blunder, they are neither going to put their dollars nor their money in Iraq . Meant to say neither their dollars nor employees.🙄☺️

[siberian_shaddow]

I believe until they see some more positive actions taken in some of the major corruption, I mean who in there right mind would invest in them knowing that there is still a possibility that Maliki can be relected and then take all there investment money, Albadi has done great but now it's time to show more action on corruption starting with Maliki and then maybe that will give Kuwait and others a warmer fuzzy feeling like hey we can all make some money let's invest. 

Edited January 29, 2018 by siberian_shaddow

[coorslite21]

It's like waiting for the perfect time to get married, or have that first child.......there really is no perfect time......just take the plunge.......

 

same with Iraq and moving into the main stream world.......whether it is Iraq, the IMF, the US holding this up..........make the move........

 

if you keep the people of Iraq under the thumb of poverty, you might just get Malaki once again.......take the plunge......

 

at least you know then you will get Abadi again......and a greater chance for success for Iraq and the region....JMO

[bkeiller]

 

26 minutes ago, siberian_shaddow said:

I believe until they see some more positive actions taken in some of the major corruption, I mean who in there right mind would invest in them knowing that there is still a possibility that Maliki can be relected and then take all there investment money, Albadi has done great but now it's time to show more action on corruption starting with Maliki and then maybe that will give Kuwait and others a warmer fuzzy feeling like hey we can all make some money let's invest. 

 

Yep, the upcoming election may well determine the speed of change in either direction towards the markets. Maybe, when more regional money creates more regional stability, investments from further afield will start to flow faster. Right now it is the global bankers (IMF, WB, etc.) and national lenders (countries) who are taking the bigger 'charitable risks' (donating their citizens' taxed money for reconstruction).

[Synopsis]

Maybe watch what they do not so much what they say. Action is the IMF funds have been trickling into Iraq. Iraq is likely at a break though point and they are getting the message to not think they are too big for their britches. The SFA with the US may have already been jointly signed so the reconstruction and foreign investment in Iraq momentum may be at the very beginning and Iraq is getting the message not to mess it up - or else. Foreign Investment relies heavily on a Stable and Secure Iraq to ensure the investments will pay out and not be compromised by the ravages of Sectarian Violence and/or Civil War. Also, the foreign investments need to be free from being Nationalized (confiscated) later by a Dictatorial type government. Due to the vast potential Iraq holds and potential compromising interests, Iraq is likely being reminded of their international obligations and given the message to get and keep their house in order.

 

I am pretty optimistic for developments over the next three weeks through the Kuwaiti Donor Conference. Maybe look for other indirect signs for positive movement in Iraq. The harsh message here is seemingly only one among other indicators of positive news.

 

Just my opinion and 

 

Go Moola Nova!

[nannab]

As always Synopsis .

[jcfrag]

Perhaps Abadi is just exercising diplomatic muscle to show the DAWA party that as long as Maliki and his corrupt little minions are free corruption isn’t going anywhere. I don’t see anything happening to the Barzani’s either. That means they are all still busy hustling dirty deals and making threats to anyone who crosses their path.... They have stifled Abadi’s voice to say with confidence where any investors money is going. I can better understand now why Husain had those guys escorted out of the building and shot in the head. He wanted to make sure those pests were out of the picture as their is no justice system in Iraq.  Imho

Edited January 29, 2018 by jcfrag

[jcfrag]

3 hours ago, Synopsis said:

The harsh message here is seemingly only one among other indicators of positive news.

Perhaps it is just Abadi posturing himself for the upcoming Kuwaiti conference. It is not unusual to witness political landslides going on there. Maybe he is trying tell Iraq he is spitting in a fan right now and SADR needs to turn up the heat one more time. But this time point the masses at both the Kurdish and the Iraqi parliments...

[DoD]

4 hours ago, Synopsis said:

I am pretty optimistic for developments over the next three weeks through the Kuwaiti Donor Conference. Maybe look for other indirect signs for positive movement in Iraq. The harsh message here is seemingly only one among other indicators of positive news.

 

I read an article today that the budget was read in Mondays session, great news. Another article said Abadi would explain the budget in the Wednesdays parliament session, more good news. Budgets have come an gone over the past years with not much meaning to us BUT it is my belief that this budget will be different this time. I would bet that if Abadi would give Kurdistan their 17% of the budget they would sign about most anything, including some type of HCL. Abadi is a smart man an knows what its going to take to get nearly a 1000 global companies to come to an invest in Iraq.

I agree with Synopsis, I'm looking for other positive news in the weeks leading up to this Kuwaiti Donor Conference. If they pass the budget, stop the auctions an make a few big time corruption arrest, that could be the game changer for Iraq at this conference.... Article VIII 

[markb57]

Problem is is it's not just Maliki corruption. They are all corrupt. It is in their dna and the world know's it now. The world has it's eye's open and will no longer put up with the pay to play corruption of Iraq. Billions of dollars have vanished from loans and grants in Iraq and no one in Iraq has thrown up any red flags. Abadi knows this and is probably a part of it if nothing more than knowledge and not doing anything about it.

 

[Officiallytook]

We have to remember that Iraq's media is now controlled...

 

It's all just a matter of time.

Edited January 29, 2018 by Officiallytook

[Synopsis]

1 hour ago, jcfrag said:

Perhaps it is just Abadi posturing himself for the upcoming Kuwaiti conference. It is not unusual to witness political landslides going on there. Maybe he is trying tell Iraq he is spitting in a fan right now and SADR needs to turn up the heat one more time. But this time point the masses at both the Kurdish and the Iraqi parliments...

 

50 minutes ago, DoD said:

 

I read an article today that the budget was read in Mondays session, great news. Another article said Abadi would explain the budget in the Wednesdays parliament session, more good news. Budgets have come an gone over the past years with not much meaning to us BUT it is my belief that this budget will be different this time. I would bet that if Abadi would give Kurdistan their 17% of the budget they would sign about most anything, including some type of HCL. Abadi is a smart man an knows what its going to take to get nearly a 1000 global companies to come to an invest in Iraq.

I agree with Synopsis, I'm looking for other positive news in the weeks leading up to this Kuwaiti Donor Conference. If they pass the budget, stop the auctions an make a few big time corruption arrest, that could be the game changer for Iraq at this conference.... Article VIII 

 

Out of emeralds today so I'll have to stop back later and give You some, Gentlemen! 

 

For now, please accept++++++++++++++++++++++++++++++++++++++++++++++++++++

 

Go Moola Nova!

[Synopsis]

2 hours ago, nannab said:

As always Synopsis .

 

The Best Of Your Week To You, NannaB! 

 

Go Moola Nova!

[jcfrag]

17 hours ago, markb57 said:

Problem is is it's not just Maliki corruption. They are all corrupt. It is in their dna and the world know's it now. The world has it's eye's open and will no longer put up with the pay to play corruption of Iraq. Billions of dollars have vanished from loans and grants in Iraq and no one in Iraq has thrown up any red flags. Abadi knows this and is probably a part of it if nothing more than knowledge and not doing anything about it.

 

To get the dominoes to fall, you gotta start with the very first one...

Let’s start with the biggest most powerful dominoe and watch the rest fall! 

Edited January 30, 2018 by jcfrag

[TOMINVEGAS]

Harsh words? Iraq is a joke. They really need to make some big changes. If I was a large investor or in charge of billions of dollars, I don’t think I would be investing in Iraq. There are too many other safer and better places to put that money to work. Let’s see if they can make things right going forward. Maybe the U.S. will step in as sort of an intermediary to make investors more comfortable..... is that part of our role in the SFA?  Or maybe Kuwait or Saudi Arabia will play that role or help facilitate? Or maybe Iraq will actually get their act together?  The hope of a successful Iraq (“successful” in western terms) seems to be more our dream than theirs. They have not done what they need to do to make investors feel assured....IMO. 

[TOMINVEGAS]

Are you buying more Dinar? Do you feel that confident? Follow the money, right? .....

[Sk 1962]

I'm glad I joined VIP and got involved with crypto currency! 

[DoD]

10 minutes ago, TOMINVEGAS said:

Are you buying more Dinar? Do you feel that confident? Follow the money, right? .....

 

Absolutley.....