Ministry of Finance: $250 billion Dinar will be Flown in on Thursday to Kurdistan Region.

[yota691]

Baghdad "bankrupt" .. and Erbil resort to Ankara to save it from financial crisis

 

26-02-2015 12:14 PM

 

Free -

Differences between the governments in Baghdad and the Kurdistan region of Iraq is back again on the agreements on oil revenues and the budget, and because of the central government's commitment to transform the region's share in the Iraqi budget, amounting to $ 12 billion annually, the greater the differences despite the announcement of the Iraqi Ministry of Finance two days ago, for the conversion of 250 billion dinars (about $ 230 million) for the Government of the Territory salaries to employees for the month of January last. 
Despite lengthy meetings between the parties, the parties did not reach a solution containing the dispute, and held the two governments Antrzian in Baghdad and the Kurdistan region several meetings beginning of last week to defuse the crisis, but the region delegation He returned to Erbil without tangible results, after failing to convince Baghdad regardless whole region's share of the budget, amounting to about one billion dollars per month, according to the budget of 2015. The Prime Minister of the Kurdistan Regional Barzani, outlined the results of recent meetings in Baghdad, saying that 'Baghdad bankrupt. She said no money we have to push them to you. ' transfer Kurdish source involved meetings the two sides, the Minister of Education Hussein al-Shahristani, said the delegation of the Kurdish 'You came to ask money from us, you want to work wearing barefoot'. In the framework of mutual accusations between the two sides stressed the Iraqi prime minister, Haider Abadi During the meeting have media early this week, that the Kurdistan Regional Government 'deficient' in the export of oil amounts agreed upon a 250 thousand barrels per day, saying 'revenues in the budget depends on oil. How are we to pay the share of the region prior to the receipt of oil '. He added that the commitment to the Convention is a foregone conclusion for us, but the rest of the issue is the export quantities. With the escalation of the crisis resorted Barzani, to Ankara, after returning empty-handed from a meeting of Baghdad, and met, Each of Turkish President Recep Tayyip Erdogan, Prime Minister Ahmed Davutoglu, where they discussed a number of things, including the oil export file. She informed Kurdish sources, who refused to give her name, told the newspaper 'new Arab' The Barzani aims to activate agreement in the field of energy between Kurdistan and Turkey for 50 years and they signed last year, so as to compensate the role of Baghdad in the financing of the region financially, but the sources ruled out shedding the Kurds from Baghdad funds, even if successful in its negotiations with the Turks.

[yota691]

Minister of Finance (time): Includes savings of who has more than 500 thousand dinars allocations
- FEBRUARY 27, 2015

Exchange 250 billion dinars to support farmers and employees of the launch of self-financing companies salaries
 
Minister of Finance (time): Includes savings of who has more than 500 thousand dinars allocations
 
 
BAGHDAD - Kamal Mustafa Saleh
 
Finance Minister Hoshyar Zebari announced the start regardless 250 billion dinars to support farmers through the Ministry of Trade and entitlements of rice crop in the coming days and we are preparing the priorities and necessities.
 
Zebari said during a press conference at the ministry and attended (time) the day before yesterday (approving the budget by the House of Representatives and approval of the presidency from President Fuad Masum, and published in the official proceedings came after strenuous efforts, one of the achievements of the government).
 
He (we hope to be the economic and financial crisis and the lack of financial liquidity and the pressing need to temporary steps and procedures for a major operation and the cooperation between the state and the citizen to go beyond them).
 
He pointed out that (the size of the budget for the current year is a standard equivalent to balancing two or more of the budgets of neighboring countries, but poor planning and a lack of economic sense of the enormous undertakings and large expenses, as well as continuing battles with Daash, forced us to rationalize spending and pressure on public investment expenditure due to the limited).
 
 He announced Zebari several resolutions at the conference where he (based on the Cabinet decision and Ministry of Finance announce practically start regardless staff self-financing companies amounting to 176 company salaries. These companies review the banks to provide lists of their members who exceed the more than 500 000 and after the issuance of Law Budget will continue regardless of their salaries and pensions). He (also announced the start regardless 250 billion dinars to support farmers through the Ministry of Trade and accruals rice crop in the coming days and we are preparing a priority).
 
The ministry instructions
 
He (the ministry to issue the special budget for all ministries instructions and we have also issued instructions for the implementation of the provisions in the budget items concerning tax and sales tax and mobilize the mobile phone and import cars and Internet companies and cigarettes and alcoholic beverages).
 
He explained that the (special instructions Palmúsat State include pressure and reduce expenditures in several areas such as hospitality and wages calls and conferences and deputations).
 
In response to a question of (time) Zebari said (national savings does not include all the staff and salaries, but certain allocations for certain categories which includes allocations of has more than 500 000 dinars).He also stressed (time) that (the government has allocated $ 500 million to set up a fund to support displaced people and ask the international community to support them as well).
 
And oil deal with the Kurdistan region said Zebari (that Baghdad actually turned part of the dues the region of $ 250 billion dinars, and God willing, up to there, part of the dues, but not all, according to the agreement between the Kurdistan region and place the contribution of the region to export 550 000 barrels of fields and those In Kirkuk, which is within the budget law, and then take the provincial share of 17 percent of the federal financial budget, and that the agreement with the provincial center steadfast despite all the poor implementation sometimes).
 
And the final accounts for 2014, Zebari said (the ministry will prepare a financial statement on last year's budget and wait for the final accounts of the ministries and we will show the size of expenditure and revenue).
 
Zebari also said that (will be installed decades owners who have three years of service as stated in the budget, either financial need to pay the remaining ministries and to a limited extent).
 
He said (that most of the kinds of advances will stop the current time due to lack of liquidity).
 
He stressed that the (government is doing its best to secure the payment of salaries and a proposal to extend their time salary payments for 40 days was misunderstood and we are doing what we can to distribute their time but sometimes delayed payment of salary, but not cut the salary of any day of the employees' work) days. He said that (the size of central bank reserves, according to the appreciation is $ 68 billion and was more but fell because of imports of arms and external import sales, but this ratio remains reasonable and important for this cash reserve is to support the Iraqi dinar).

[TBomb]

THE AIRPLANE ARTICLES ARE TOO FUNNY...

 

I'M SURE THERE'S ABSOLUTELY NO WAY THEY COULD ELECTRONICALLY TRANSFER THE FUNDS...NOT!

 

LMAO

[FlintNPebbles]

I tend to believe that they don't transfer them electronically due to the fact so many Iraqi's do not use a bank or electronic banking, therefore the banks have to have paper money on hand. Just like my local bank which gets money truckedin on a regular basis.

[idplzr]

THE AIRPLANE ARTICLES ARE TOO FUNNY...

 

I'M SURE THERE'S ABSOLUTELY NO WAY THEY COULD ELECTRONICALLY TRANSFER THE FUNDS...NOT!

 

LMAO

 

lol, especially with all the banking advances they have been boasting about recently...

[yota691]

If it is Lower Denom this notes won't be in any bank..they will have to be delivered to each Government bank all across Iraq and Kurdistan....and if you notice post 17 of this thread it state deliver to Baghdad...

[Deborah Layne]

I tend to believe that they don't transfer them electronically due to the fact so many Iraqi's do not use a bank or electronic banking, therefore the banks have to have paper money on hand. Just like my local bank which gets money truckedin on a regular basis.

Ahh. Which touches on Yota's thoughts that the banks are encouraging people to bring in their 50's to set up accounts with them. Edited February 27, 2015 by Deborah Layne