IRAQ GOV ANNOUNCED SUNDAY EXIT FROM CHAP VII IS JUNE

[Carrello]

February 4, 2012

Iraq wants Kuwait to repay debts through investments

03/02/2012

Baghdad, 3 February (aknews) – the Iraqi Government announced Friday, wished to resolve and close the file of Kuwaiti debt through the implementation of investment projects for Kuwaiti companies in Iraq.The adviser said the President's Office to the Ministry of Mary boss news agency of Kurdistan (aknews) that "Iraq wants to close the file of Kuwaiti debt through the implementation of investment projects in the next phase."The President added that "Iraq hoped Kuwait help break item VII during 2012 and this will be discussed in detail with Prime Minister Nouri al-Maliki during his forthcoming visit to Kuwait to be convened by the end of March.

"The Iraqi Government announced Sunday that exit Iraq from Chapter VII, which would be in June, the Security Council depends on the position of Kuwait towards three important files is the issue of missing Kuwaitis and archive, as well as the issue of the demarcation of the border between the two countries.The President noted that "Kuwait want to extend new relationships based on sharing common economic and commercial interests between the two countries and to forget the past era and help Iraq out of item VII".The Security Council had decided in mid-January of last year, a unanimous vote on three resolutions concerning the lifting of the embargo on Iraq on import nuclear materials for peaceful purposes, and to cancel oil-for-food programme, and also extended the immunity for awards that were imposed under section VII until the end of June.From: Jafar Alunan, pen: Parwan as Yusuf

My link

Edited February 4, 2012 by Carrello

[Tirebiter]

WOW! Thanks Carello!!! I tried to + you but it won't let me for some reason. NICE ARTICLE!!!

[Joker017]

Thanks Carello for the Post, Good News!

So Is this going to happen in June or in March????

Tirebiter, you are correct Pluses are Out Of Order again!

[speculatorsRIDE]

interesting!

[Tirebiter]

Thanks Carello for the Post, Good News!

So Is this going to happen in June or in March????

Tirebiter, you are correct Pluses are Out Of Order again!

Thanks Joker071. Was hoping it wasn't just my system. lol

In regards to March or June? I don't know, but my opinion is if they truly have confirmation of an end date then why can't they start to act on monetary policies and such now? That would be my hope anyway.

[Rayzur]

Thanks for the great post !!!! It would seem as they incrementally lift aspects or sections of Chapter 7 sanctions, that the Kuwaiti focus is the main area remaining in lifting it fully. I know that lifting Chapter 7 is one of those items listed by some as necessary to the RV process. I'mwondering if the incremental lifting of sanction areas is sufficient to the RV process (as in, can it now RV given what the UNSC has removed) or does Iraq have to come out from under ALL Chapter 7 sanctions in order to effect the RV (as in we wait until June 2012 before looking for an RV/RD whatever is to be).....

I'm hoping the former. Can anyone cite reference that indicates its the latter? I tend to think they can proceed with the RV relative to Chapter 7 where it stands, though have heard too many times the opinion that it must be fully lifted....

Thanks gang.... hope we can drill down on this accurately.....

Have a great weekend

[Elixirbaby]

First time I've seen them anounce a date. Good news. To bad its not Monday

Go Rv

[Rayzur]

Dang it on the plus buttion being out of order. I wanted to plus you Carello and .....I was absolutely certain this would be the day I was going to get at least 30 plus from my DV buds..... Missed again darn it?

[ftruck7]

First time I've seen them anounce a date. Good news. To bad its not Monday

Go Rv

I'm sure someone said it will be monday.

[rope]

................Is it gonna be this year ?????????????????????

Sounds really familiar to what we were hoping for last year .......

(I tried to +, but it's doing the same thing as before.....system must be wacky again )

[Griffster]

Hopefully the timetable is off and we see results sooner. Maliki is suposed to be going there real soon . I pray we see the RV before June... medical board will be over and my family will be jobless on the economy. Yay military budget cuts... making soilders feel wanted since 2008

[Patriotic_mess]

This is some good news! It means they will have to open the records and set the IQD at what it should be worth before June!

[CapeNavajo]

Maybe we should not take this too seriously . . . its only what the "Presidents office said to the Ministry of Mary". LOL!!! Next thing you know he will be talking to the Watermellon!

I think we will see it before then. GO RV!

[Alex38]

We wait til June... Ok.

[Aqua Dude]

iraq can't dictate when it will exit chp 7.....don't be dense people

Edited February 4, 2012 by Aqua Dude

[mrref]

i"m sorry but since when does Iraq make that decision??? Or did I misread something in between the lines. Something isn't adding up here.. Iraq can't decide when its going to get out of Chapter 7..

[JustNTime]

Although Chapter VII is important to Iraq, IMO, I do not believe it is a precursor to the RV; although it be the other way around. So RV before June. That = soon. Make sense?

Edited February 4, 2012 by JustNTime

[yota691]

iraq can't dictate when it will exit chp 7.....don't be dense people

They vote twice a year on sanctions, no matter who it is.

[Papster]

thanks carrello for the post..........................isnt june when the protection of DFI funds expires..................this still happen before june...........imo............they can still make monetary as of now.................GO DINAR

[yota691]

Although Chapter VII is important to Iraq, IMO, I do not believe it is a precursor to the RV; although it be the other way around. So RV before June. That = soon. Make sense?

to go Electronically Chapter 7 is a must

[abby01]

I like what it says. Thanks Carrello for posting the article.

The sooner the better. Will believe it when I see it! Wonder why?

I went to the link and a car horn sound was beeping and it froze up my computer. Had to do delete it through the Task manager.

[yota691]

Iraq: Bank guarantees the establishment of a mixed and the seventh item Akplha

Posted 01/02/2012 07:37 AM

BAGHDAD - Babinaoz (Reuters) - The Iraqi government announced, on the development of a mixed bank involving government and private banks and foreign, to unite their capital to cover the guarantees that go beyond the barrier roofs billion dollars.

Iraq seeks through the establishment of the bank to close the deficit of local banks to cover the financial guarantees required by the investment companies, which represent the problem of restricting the entry of specialized companies in the electricity sector, infrastructure and services.

The deputy governor of the Central Bank of the appearance of Mohammed Saleh in a press statement seen by "Twilight News" "The establishment of this bank hybrid will be a link between state and market, and that the government contracts with foreign companies continues through a series of guarantees, a solution to the problem of limited financial capacity of local banks."

Denied in favor of "Central Bank intervention to give guarantees, that the new law prohibits this action," noting that "the only activity of the bank to conduct monetary policy."

The main tasks of the Central Bank in managing monetary policy in the country and raise the level of the value of Iraqi dinar and tackle inflation in the country. The Central Bank of Iraq four branches in Basra and Sulaymaniyah, Erbil and Nineveh.

For his part, said the official spokesman for the Ministry of Electricity Musab al-secret teacher "The ministry can not deal with the banks, whether government or private and even foreign to the issue of financial guarantees with the exception of Trade Bank of Iraq's largest state in terms of capital."

"The problem of limited potential for private banks still exist, even government banks can not provide these guarantees for reasons to keep Iraq under Chapter VII."

Iraq has been under since the nineties of the last century, under Chapter VII of the Charter of the United Nations imposed after the invasion of Kuwait in August of 1990.

This allows the item to use force against Iraq as a threat to international security as well as to freeze large amounts of its assets in the financial world banks to pay compensation to those affected by the invasion of Kuwait.

The debt consists of Kuwait to Iraq from the losses suffered by the oil sector in Kuwait in addition to the losses suffered by the government ministries and buildings during the invasion of Iraq led by Saddam Hussein.

The teacher explained that "all companies that hire foreign ministries with the very large sums ask us to put bank guarantee covering the amount and this is what our banks can not afford, since the capital is only a small percentage of the amount of the contract."

The teacher on the "government should coordinate with the commercial bank in order to overcome the red tape to the implementation of projects and the Ministry of Electricity."

The Cabinet decided to allocate funds annually to support the private sector, and the establishment of a joint venture to secure loans and purchase of dubious collected, to encourage lending in the future, as well as for approving the establishment of Bank of mixed contribute to the government and private banks and branches of foreign banks, with a capital of an appropriate and adopt the established money changers of modern international .

This rejects the merger of private banks on the pretext that it is not a family banks financial institutions in its true sense.

In Iraq, there about seven state banks and 34 banks waged, mostly owned by foreign banks. Two banks and two government controlled the banking system in Iraq are the Rafidain Bank and the Bank of governance.

http://www.babnews.c...ew.asp?ID=49335

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Edited February 4, 2012 by yota691

[Rabbi]

The question remains as to whether Iraq needs to get out of Chap. VII BEFORE they can RV the IQD. The remaining sanctions all deal with Kuwait specifically. They are not "economic" sanctions by nature, despite the existence of a debt to Kuwait, and it is possible that these remaining modified sanctions will not prevent Iraq from RVing their currency. Could the sanctions be just another in what I believe is a long line of red herrings? I already believe that the budget and/or the HCL being passed are unnecessary for Shabs to pull the trigger. Now I think that remaining under this unique set of Chap VII restrictions may also not stand in the way of the CBI from implementing Phase 2, i.e., releasing of the LDs with the concurrent increase in the exchange rate.

IMO, the one thing that must occur is the finalizing of the GOI! In one sense, the value in a currency is a reflection of the stability of the government issuing that currency. Until they fully implement the Erbil agreement, Shabs will not release the artificial program rate! However, once they finalize the government, it'll be party time!!!

[Tirebiter]

iraq can't dictate when it will exit chp 7.....don't be dense people

At the risk of being dense, Iraq can, in fact, dictate when it is removed from Chapter VII to the extent they can comply with all the provisions for removal. This would include the Kuwait reparations, which once completed, may be enough for the UN to remove them from Chapter VII. According to many articles, Malaki is supposed to be meeting w/Kuwait next month. The wording of the article may be a bit bold in a prediction on the part of the GOI, but Iraq does in fact control when they complete all the provisions from removal of Chapter VII imo.

[DinarBot]

February 4, 2012

Iraq wants Kuwait to repay debts through investments

03/02/2012

Baghdad, 3 February (aknews) – the Iraqi Government announced Friday, wished to resolve and close the file of Kuwaiti debt through the implementation of investment projects for Kuwaiti companies in Iraq.The adviser said the President's Office to the Ministry of Mary boss news agency of Kurdistan (aknews) that "Iraq wants to close the file of Kuwaiti debt through the implementation of investment projects in the next phase."The President added that "Iraq hoped Kuwait help break item VII during 2012 and this will be discussed in detail with Prime Minister Nouri al-Maliki during his forthcoming visit to Kuwait to be convened by the end of March.

"The Iraqi Government announced Sunday that exit Iraq from Chapter VII, which would be in June, the Security Council depends on the position of Kuwait towards three important files is the issue of missing Kuwaitis and archive, as well as the issue of the demarcation of the border between the two countries.The President noted that "Kuwait want to extend new relationships based on sharing common economic and commercial interests between the two countries and to forget the past era and help Iraq out of item VII".The Security Council had decided in mid-January of last year, a unanimous vote on three resolutions concerning the lifting of the embargo on Iraq on import nuclear materials for peaceful purposes, and to cancel oil-for-food programme, and also extended the immunity for awards that were imposed under section VII until the end of June.From: Jafar Alunan, pen: Parwan as Yusuf

My link

Our Jan. 2012 Post:

We believe it has now officially become a re-election platform for Obama. Enough Cash to Save the EU & Save the US. So. When does one initiate the final stages of such a plan. A plan that results in votes in your favor. At least 6 months prior to casting your ballots. We presume. June at the latest. IMF Federal Reserve UN World Bank control Iraqs Currency. The US delivered it. The others watch over it. Not a bad thing. Iraq will do very well overall. Probably better than without "Assistance".

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