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Everything posted by Brinx65
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Breakthrough in Baghdad-Erbil budget dispute, says finance minister Zebari http://rudaw.net/english/middleeast/iraq/131120141 ERBIL, Kurdistan Region - The Kurdish Regional Government and Baghdad have reached a breakthrough deal to help resolve an almost year-long dispute over budget payments and oil sales, Hoshyar Zebari, Iraq’s Kurdish finance minister, told Rudaw on Thursday. Zebari, speaking by phone from Abu Dhabi, said the deal involved an upfront payment of $500 million by Baghdad to pay the salaries of Kurdish civil servants as part of the central government’s constitutional obligation. In return, Kurdistan would hand over to the federal government 150,000 barrels of Kurdish oil a day exported through Kurdistan’s pipeline to the Turkish port of Ceyhan. “This covers the month of October. In November, there will be another payment of $1 billion and the KRG will again hand over 150,000 barrels of oil a day to the federal government.” He said the deal was reached today in Erbil where Iraqi Oil Minister Adil Abdul-Mahdi met KRG Prime Minister Nechirvan Barzani and Deputy Prime Minister Qubad Talabani in a closed-door meeting. Zebari credited his “good” relationship with Abdul-Mahdi with having facilitated the agreement. In negotiations that involved Iraq’s new prime minister, Haidar Al Abadi, it was made clear that the dispute had to be settled otherwise there would be a total breakdown in the relationship and the KRG would withdraw its co-operation with Baghdad at all levels including ministers, diplomats and other civil servants. Zebari, the former foreign minister who took up the finance portfolio in Baghdad in September, said his ministry had sorted out the figures on what Iraq was capable and not capable of spending. “Iraq is going through a difficult financial crisis,” he said. “I want to decide next year’s budget and I couldn’t do that unless I had something in hand.” He said: “It’s a reasonable deal and removes a major obstacle. Both sides needed this deal but this is only the beginning.” He stressed Iraq has no control over oil in northern Iraq or in Kirkuk because pipelines had been damaged and the only way for it to be exported was through the Kurdish pipeline. Zebari and other Kurdish ministers had only finally agreed to join the Baghdad government after Abadi pledged he would immediately make a payment to the KRG, which was not forthcoming. Kurdish officials had also been heartened by Abdul-Mahdi’s appointment because of his past close ties with the Kurds. The former vice president replaced Hussein al-Sharhistani, who had fiercely opposed Kurdistan’s independent oil ambitions. The government urgently needed to secure income in the absence of federal budget transfers, as it has paid out of pocket for the region’s vast number of civil servants, whose salaries consume roughly 75 percent of the KRG’s budget
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**Baghdad and Erbil agree on oil view**
Brinx65 replied to easyrider's topic in Iraq & Dinar Related News
They agree to solve problems which will require additional meetings. Ok......I guess we'll wait -
HCL, Budget(s) , Chapter 7, 8 9,10 , Internal Laws, CBI agreements, IMF agreements, money owed to other countries...........the list could be endless. HCL is a huge step in the right direction no matter what else has to be done. Bare in mind even if all these things above were done, there's still no guarantee the dinar would revalue. They could continue to manage their deficit via auctions just like they've been doing for years. I pray I'm wrong and they hit the "easy button" a.s.a.p. Baby needs a new pair of shoes!! haha
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Bin Laden's killers arrive in Iraq to hunt down al-Baghdadi
Brinx65 replied to k98nights's topic in Iraq & Dinar Related News
LOL BS This would be a highly secret operation if it were true. Nobody would know about it until after Abu Bakr al-Baghdadi was taking a dirt nap due to lead poisoning. -
Jihadi wannabes taking cruise ships to ISIS battle zones
Brinx65 replied to k98nights's topic in Iraq & Dinar Related News
Let them on board, wait until they're in the middle of nowhere, then kick them overboard and see how well they can swim in those night gowns they wear. -
Arrest Warrant for Mr Evil (about time)
Brinx65 replied to uncirculd's topic in Iraq & Dinar Related News
Another DICKtator bites the dust! Whoohoooo! -
Only their hair dresser knows for sure
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Central Bank of Iraq is preparing to issue metal coins
Brinx65 replied to Tom's topic in Dinar Rumors
Central Bank of Iraq is preparing to issue metal coins Whew......for a minute there I thought they were going to be plastic. Yay!! -
Reasons for canceling a deal to buy 24 aircraft Apache
Brinx65 replied to yota691's topic in Iraq & Dinar Related News
Iraqi government did not accept the offer, but the Boeing built them anyway? I call BS on this one. There's some shady crap going on here. Boeing is not dumb enough to have not crossed all "T's" and dotted all the "I's" in a written contract. Maliki = Shady Crap -
Thanks for the explanation Deb. I'm only confused about one thing now. What is a "ufathomably" ? LOL Happy Friday !
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"Noting that "the committee suggests the possibility to pass the budget in the form of advance funding provided to the previous government, and the approval of the approval." A few more approvals and it will be approved.....unless they disapprove of the approval to approve. Take me drunk I'm home! Thanks for the post Yota.
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To get back to the original question...............the point I was trying to make was that it's rumored that once the ISX swap to X-Steam was done on the 26th, Iraq had to have their tradable shares at a minimum market price to include a tradable currency( which is where we come in) . IMO........the dinar will still be traded as Penny Stock., No change at all. ( I hope I'm wrong) Mr. Montana reserved his comments on this subject but added it might be a good thing. I'd sure like to know what that "good thing" entails.
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Wow! Well done Kuwait! What a kind gesture on your part. Now add the 6 billion to your budget Iraq and let's get this party started! Thanks for the post!