Parliamentary Finance reveal meetings between Iraq and the World Bank early next month

[yota691]

Parliamentary Finance reveal meetings between Iraq and the World Bank early next month

Economy and Tenders

 Since 10/29/2015 17:06 pm (Baghdad time)

Special - scales News

Detection of the parliamentary finance committee member Abdul Qader Mohammed, on Thursday, the existence of meetings between the Iraqi government and the World Bank will be held early next month in Jordan in order to obtain financial loans.

He said Mohammed's / scales News /, that "the federal government in coordination with the Ministry of Finance meetings with the World Bank early next month will be held in the State of Jordan in order to obtain financial loans and assistance in the shortfall in the fiscal budget for next year after a drop in oil prices."

The member of the parliamentary finance committee, said that "some political blocs demanded installed the rights represented by the provinces in the federal budget for next year, and despite the lack of budget, but claims that this is the natural right of the citizens."

It is said that "the Committee of the Regions and the provinces parliamentary member Ahmed al-Badri confirmed L / scales News /, earlier, that he will not pass the federal budget for the next year in 2016 unless it includes the application of the petro-dollar law and give the oil-producing provinces right for every barrel of oil produced, as likely rebalancing to the Cabinet, as the government called for the application of paragraph petro-dollar order not to delay the adoption of Almoisnh.anthy 29/28

[ComPLX]

I'm with that. Everyone gets what's owed to them.

[Theseus]

The member of the parliamentary finance committee, said that "some political blocs demanded installed the rights represented by the provinces in the federal budget for next year, and despite the lack of budget, but claims that this is the natural right of the citizens."

It is said that "the Committee of the Regions and the provinces parliamentary member Ahmed al-Badri confirmed L / scales News /, earlier, that he will not pass the federal budget for the next year in 2016 unless it includes the application of the petro-dollar law and give the oil-producing provinces right for every barrel of oil produced, as likely rebalancing to the Cabinet, as the government called for the application of paragraph petro-dollar order not to delay the adoption of Almoisnh.anthy 29/28

This is dealing with Iraq's Oil and Gas Law (HCL). They are saying they need the HCL in place before the 2017 budget will be passed. The shenanigans with the Kurds is and only has been an agreement. Now the rest of the oil producing provinces in Iraq are wanting their comeuppance and the only way to for them to get that is through the HCL law because these regions are not semi-autonomous like the Kurds. Don't be surprised if more focus gets put on this the closer Iraq gets to passing the next budget (not the current budget trying to be passed) the Budget for 2017. There will be no RV until the Oil and Gas Law (not to be confused with the agreement with the Kurds) is passed. I said this 2 budgets ago and will continue to say that the agreement with the Kurds is not the HCL (Iraq's Oil and Gas Law). 

[Antietam]

It sounds like more loans to iraq. IMF yesterday and WB today. It is good that the world financial organizations are willing to loan money to iraq, but I would much prefer Iraq to be in a position of economic success to revalue their currency. We wait some more.

[Theseus]

Yes its about meetings for more lonas, however you have to distribute those loans once you receive them. This is what the final paragraphs of the article is stating. They are wanting the HCL in place by the time budget rolls around again next year. The sidebar of this article is the meetings. The real story is the call for the HCL indirectly.  

HCL is not about RV. It is about distributing to all of the citizens of Iraq their share of the sales from the proceeds from the sales of Oil. From there Iraq can RV should it want. What Iraq does doesn't always equate to an immediate RV. It could be part of the total formula that eventually leads to an RV but not always.

[tigergorzow]

I do believe they are referring to the Budget for 2016 that have been approved by the COM. Awaiting Parliament approval because the subject of Petro dollars for the provinces have been discussed thoroughly before so a solution as in HCL being voted & published in the Gazette is coming sooner rather than later. JMO

Keeping The Faith!!

GO RV!!

[ComPLX]

Yes its about meetings for more lonas, however you have to distribute those loans once you receive them. This is what the final paragraphs of the article is stating. They are wanting the HCL in place by the time budget rolls around again next year. The sidebar of this article is the meetings. The real story is the call for the HCL indirectly.  

HCL is not about RV. It is about distributing to all of the citizens of Iraq their share of the sales from the proceeds from the sales of Oil. From there Iraq can RV should it want. What Iraq does doesn't always equate to an immediate RV. It could be part of the total formula that eventually leads to an RV but not always.

Agreed

[Laid Back]

Get the HCL done and you will get the loans.

[Freedomwish]

I do believe they are referring to the Budget for 2016 that have been approved by the COM. Awaiting Parliament approval because the subject of Petro dollars for the provinces have been discussed thoroughly before so a solution as in HCL being voted & published in the Gazette is coming sooner rather than later. JMO

Keeping The Faith!!

GO RV!!

 

Sounds like the agenda of the HCL is in there somewhere to me, indeed will keep the faith!! 

Edited October 30, 2015 by Freedomwish

[NextYear]

 Don't be surprised if more focus gets put on this the closer Iraq gets to passing the next budget (not the current budget trying to be passed) the Budget for 2017. There will be no RV until the Oil and Gas Law (not to be confused with the agreement with the Kurds) is passed. I said this 2 budgets ago and will continue to say that the agreement with the Kurds is not the HCL (Iraq's Oil and Gas Law). 

 

I've been looking at 2017 as the RV date myself. If it happens in 2016, the more the merrier. But I'm not counting on an RV in 2016.  When you seriously look at the situation, Abadi has been in office for only a year and he's done a fantastic job so far but imo a year is a bit too short a time to undo the many years of shenanigans Maliki and his little circle perpetrated on that country. Two years at best is a better figure to straighten things out in a real world sense. I've read articles way back that stated 2016-2017 and there was a current article about 2017 as well if memory serves for a serious consideration of an RV.

Edited October 30, 2015 by NextYear

[Officiallytook]

Yes!!!

Now faster Iraq faster!

Edited October 31, 2015 by Officiallytook

[sandfly]

THANKS

[SocalDinar]

Yes its about meetings for more lonas, however you have to distribute those loans once you receive them. This is what the final paragraphs of the article is stating. They are wanting the HCL in place by the time budget rolls around again next year. The sidebar of this article is the meetings. The real story is the call for the HCL indirectly.  

HCL is not about RV. It is about distributing to all of the citizens of Iraq their share of the sales from the proceeds from the sales of Oil. From there Iraq can RV should it want. What Iraq does doesn't always equate to an immediate RV. It could be part of the total formula that eventually leads to an RV but not always.

True  but I think it's more about distributing to the local governments. It just never seems to make it to the people. Maybe some ration cards but not a lot more than this.

I also  think the this article is about this particular MPs opinion and how he  will vote.  It does say..

that  "he" will not pass the federal budget for the next year in 2016 unless it includes the application of the petro-dollar law and give the oil-producing provinces right for every barrel of oil produced

Not sure how this could work though. If every province has the right of every barrel of oil how would they be able to run the country?  Is the Budget or HCL just a majority vote? I am having a memory lapse here LOL  Can anyone  help with this question? 

I sure Hope they figure this out before another census is needed.

 

Thanks

Edited October 31, 2015 by SocalDinar

[yota691]

01/11/2015 08:44 GMT

  Parliamentary Finance reveal a nearby cabinet meeting with the International Monetary Fund in Amman

  Baghdad and babysit -revealed the parliamentary finance committee, Sunday, soon meeting the Iraqi government with the International Monetary Fund in Amman to discuss the issue of lending to Iraq.

 

 

The committee member said Haitham al-Jubouri for "public opinion", "The 2016 budget did not reach far, the House of Representatives," noting that "the prime minister did not sign it until now, to our knowledge."

 

And between al-Jubouri, he said that "There is a meeting of the Iraqi government and the International Monetary Fund on the fifth of November this in Amman to discuss the issue of lending to the country," pointing out that "there are notes for the International Monetary Fund about the budget and the conditions in return for supporting the Iraq physically."

Read more: http://dinarvets.com/forums/index.php?/topic/210573-parliamentary-finance-reveal-a-nearby-cabinet-meeting-with-the-international-monetary-fund-in-amman/#ixzz3qEcJ1Jib

[drj]

This is dealing with Iraq's Oil and Gas Law (HCL). They are saying they need the HCL in place before the 2017 budget will be passed. The shenanigans with the Kurds is and only has been an agreement. Now the rest of the oil producing provinces in Iraq are wanting their comeuppance and the only way to for them to get that is through the HCL law because these regions are not semi-autonomous like the Kurds. Don't be surprised if more focus gets put on this the closer Iraq gets to passing the next budget (not the current budget trying to be passed) the Budget for 2017. There will be no RV until the Oil and Gas Law (not to be confused with the agreement with the Kurds) is passed. I said this 2 budgets ago and will continue to say that the agreement with the Kurds is not the HCL (Iraq's Oil and Gas Law). 

 

 

You did say it for the last two budgets and you are saying it again for the 2016 budget.  You were correct then and I hate to say it but you will be correct again.  I have to agree, the HCA in the 2016 budget is not the HCL. 

[Theseus]

 

True  but I think it's more about distributing to the local governments. It just never seems to make it to the people. Maybe some ration cards but not a lot more than this.

I also  think the this article is about this particular MPs opinion and how he  will vote.  It does say..

that  "he" will not pass the federal budget for the next year in 2016 unless it includes the application of the petro-dollar law and give the oil-producing provinces right for every barrel of oil produced

Not sure how this could work though. If every province has the right of every barrel of oil how would they be able to run the country?  Is the Budget or HCL just a majority vote? I am having a memory lapse here LOL  Can anyone  help with this question? 

I sure Hope they figure this out before another census is needed.

 

Thanks

 

See the revised version of the Iraq Oil and Law and you will have your answers. The Iraq Constitution gives every citizen a portion of the proceeds from the sale of each barrel (I believe it is article 36 of their Constitution, I could be off on the article number). The Iraq Oil and Gas draft (AKA HCL) in its current state reorganizes the current Oil and Gas laws as they are currently stand which is the same as before Sadam Hussein was in power. To be a bearer of bad news is that once the HCL does actually become law, it still needs to be put in action and that could take awhile given the rate of speed Iraq moves at. Once the citizen's of Iraq begin receiving their share of the sales of oil proceeds then the RV will happen. My guesstimation would be around 2020 or later unless IRAQ moves a little faster than a snail on salt. 

[yota691]

Iraqi delegation to discuss with the International Monetary Fund for ways to overcome the financial crisis

History of edits:: 2015/11/8 17:20 • 21 visits readable

[baghdad-where] 
an Iraqi delegation headed by Finance Minister Hoshyar Zebari held with experts and senior IMF officials in talks to study the financial and economic situation of the country and ways to support the Fund for Iraq.

A statement from the Ministry of Finance, the agency received all of Iraq [where] a copy of it, that "the financial and technical talks between the government delegation to the representatives of the financial, oil and planning ministries and the central bank with senior experts of the International Monetary Fund officials IMF take place in the Jordanian capital, Amman, to study the country's financial and economic situation and ways to supporting the Fund for Iraq. 
participate Finance Minister Hoshyar Zebari and Governor of the Central Bank on the Keywords and financial and economic adviser to the prime minister appearance of Mohammed Saleh and directors of budget departments, accounting, public debt, and representatives of the Ministry of Oil and Planning and the Central Bank in these discussions. 
Consultations are taking place to reach a memorandum of technical understanding for the monitoring program Fund to strengthen public financial management and strengthen cash management and provide stability to the financial sector in the country, it is scheduled to continue these consultations several days.

 

 

[uncirculd]

To me this is huge!  Who is going to die now?  Maliki is most likely in one of his most desperate positions?  It's almost like a do or die situation.  He needs this not to pass.  Abadi really needs to watch his back and members of parliament.   I'm sure maliki is handing out some serious bribes to his cronies to stop more of the reforms.  

Why is he breathing?

[Theseus]

Neg me all you want just because the reality of the matter does not fit into your fantasies.

 

Yeah people have been waiting a long time but it's in Iraq's hands on how they proceed. The Oil and Gas Law is like the recipe to a cake. Just because you have a recipe doesn't mean you have a cake, Only once you have acquired the items, combined them, placed them in the pan, baked the cake and pull it out of the oven do you have the cake. If you mess up you start all over. It is the same way with the Oil and Gas law. Once they have the law passed then they have to acquire what they need, combine the items and implement it. A recipe usually shows a prep time and baking time. The implementation of the Oil and Gas law, once passed, will also have a prep time before its implemented. Once the Oil and Gas Law is fully implemented and the process of every citizen getting their proceeds has occurred two or more times to get the kinks out, then and only then will Iraq be able to bring purchasing power back to the people because they will demand it. Then the RV will happen however they choose.

 

As more and more calls go out for oil provinces to get to rights to every barrel they produce, the pressure will build on Baghdad to complete the Oil and Gas law whether they are ready or not.