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Shabibi is negotiating his departure from the Central Bank of Iraq (??)

Don Paul

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this is disturbing if correct. got it from A.C.

can someone verify / dispell

Central Bank of Iraq and the Government

Central_Bank_of_Iraq-300x188.jpgCentral Bank of Iraq

The Iraqi courts have already ruled that the Central Bank of Iraq is under the jurisdiction of the Iraq government specifically the Prime Minister’s Cabinet. Prime Minister Maliki is attempting to reshape the Central Bank of Iraq starting with upper management. The hard currency in Iraq which is the U.S. dollar is appreciating against the local currency as merchants are continuing to buy and sell in U.S. dollars.

Governor Shabibi is negotiating his departure from the Central Bank of Iraq along with other senior members of the CBI. We will see departures in the management of the CBI by the end of the year. It is rumored that they will be leaving the country.

The Iraqi dinar is being seriously undermined by Iran and Syria who are in need of U.S. Dollars to skirt the international sanctions. You will see a continued weaken Iraq dinar in the months ahead.

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don paul, I received this also..He had several articles that I would like for others to see here also but I have not learned how to send it to dv. This is very disturbing and the other articles were follow up to this one. I totally am flabergasted at Shabbi being replaced and leaving the country.

btw...your 2nd link is not working for me

thankyou for sharing

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The Iraqi Supreme Court did in fact place the CBI under the Council of Ministers power for a brief time, but that was quickly overturned...the CBI IS NOT UNDER THE POWER OF THE MINISTERS, SORRY AC:

Iraq Supreme Court reverses ruling on executive power



The Iraqi Supreme Court reversed a recent decision that would place formerly independent bodies under the jurisdiction of the cabinet rather than the parliament, AFP reported.

In its ruling on Tuesday (March 8th), the court stated, "Constitutional articles that link independent bodies either to the council of ministers or the parliament should be respected and enforced."

In January, the court ruled that entities such as the central bank, the anti-corruption commission and others fall under the executive branch since their work is executive in nature. The constitution states that independent government bodies fall under parliament's supervision.

The court issued its ruling after Prime Minister Nouri al-Maliki asked for clarification on the issue.

Edited by thegente
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Hi Gente, I certainly would like to think you are right on this one but your article is dated back in 2011....This article that dan paul has is date todays date and is from the Baltimore sun.....Now, I don't know how reliable the B Sun is but this is their news today....I truely like your article better

Here is a quote from the Baltimore Sun article:

"Maliki won a court ruling in January 2011 putting independent bodies like the Central Bank of Iraq under the cabinet, alarming critics who view with suspicion signs of authoritarianism in some of his actions."

THIS WAS REVERSED LATER ON, AS IT SAYS IN THE ARTICLE I POSTED...This is all a bunch of hype, don't worry about it

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Iraq parliament tells cabinet not to meddle in central bank policy ...

April 11, 2012

Iraq's parliament has sent a letter to the cabinet telling it not to interfere in monetary policy, a parliamentary source said, in a skirmish over central bank independence that reflects concerns over the extent of Prime Minister Nuri al-Maliki's influence.

Maliki won a court ruling in January 2011 putting independent bodies like the Central Bank of Iraq under the cabinet, alarming critics who view with suspicion signs of authoritarianism in some of his actions.

He said this would not affect the CBI's independence, but other moves by Maliki, a Shi'ite, against senior Sunni politicians and his control over key security ministries have raised concern that he is trying to consolidate his power.

A source in the office of parliament speaker Osama al-Nujaifi said parliament had sent the cabinet a letter reminding it that setting monetary policy was not in its mandate and that it should not assert its authority unconstitutionally.

Parliament sent the letter after cabinet wrote to the CBI stating that it should have a say in its monetary decisions, lawmakers who received a copy of that letter said.

"This is not the first time the government has tried to impose its control over the central bank," Jaber al-Jaberi, a lawmaker and member of parliament's finance committee, told Reuters.

"Every time they try, and then talks erupt, and then they reach an agreement. But then they try all over again," he said.

Parliament said on its website that Nujaifi met with CBI Governor Sinan al-Shibibi on Tuesday to confirm its support for the bank's independence in accordance with the constitution.

"It is necessary that the central bank remains independent from government in order to prevent a hand (controlling) Iraq's money and to execute international rulings issued against Iraq by its debtors," Nujaifi told Shibibi, according to the website.

"The central bank has $60 billion in reserve and this reserve should (be safe)," said Najiba Najib, a lawmaker and a member of parliament's financial committee.

"Central bank policy should be away from any executive side in order to work professionally and independently."

Much of Iraq's external debt was settled via the Paris Club of sovereign creditors in 2004, in a deal that required Baghdad to seek similar settlements with all other creditors.

But some commercial creditors have won court cases and do not accept the terms of that settlement, meaning Iraq has yet to settle its debts with them.

article link

Edited by TexasGranny
added link to article
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just a worthless opinion but I think it is all disinformation as is the norm...I haven't seen much come out of Iraq that can be nailed down except insenuendos, maybes and contradictions. I still believe the power brokers that have controlled way too much of the world's affairs are still calling behind the scene shots. Trillionaires do not have to be in a hurry nor do they concern themselves with the difficulties of "average" people. I still think the big wheels of Irag are puppets and they are where they are by other peoples decisions...not their own. If I be way off base please correct my thinking with logical proof. Let us all hope that regardless of who is really in control of this fiasco that for the sake of Iraqi people ( and us) that they will soon get past the discourse and do something...right or wrong...cheers

here's hoping everybody's dreams become true!!! :D

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