Spiked Camel Java !

[DinarThug]

 

LINK

Hamoudi: Security and political stability in Iraq has become an incentive for international companies to invest

 

27th July, 2019

The head of the Supreme Islamic Council Hammam Hamoudi, on Friday, that the security and political stability in Iraq has become an incentive for international companies to invest in it.

 

"The President of the Republic of Pakistan, Arif Alawi, received today the President of the Supreme Council and his accompanying delegation. The two sides discussed political developments and Islamic issues, foremost of which are the issues of Palestine and Kashmir, as well as the relations between the two countries and means of their development," Hamoudi's office said in a statement.

 

"Alawi expressed his happiness over the security and political stability of Iraq after suffering wars, economic siege and security challenges that have greatly affected the human and economic life of Iraq. He pointed out that he is following the tragic situation of Iraq from his Iraqi friends when he was a student of". The Pakistani president expressed his aspiration to enhance communication between the two countries and the Pakistani and Iraqi peoples, and to work jointly in the academic aspect, trade exchange and information development, noting that "this cooperation is what gives the relations greater momentum."

For his part, Hammoudi stressed the importance of transforming the ideas that were circulated with the Pakistani authorities during the visit to work projects, noting that "there is an opportunity to develop the relations of the two countries in education, culture, religious and medical tourism and trade exchange, especially as Iraq seeks to have an active role In the Silk Road."  He noted that "the security and political stability in Iraq is encouraging international companies to invest in it, and participate in the reconstruction, "noting" the site occupied Iraq now through international openness, and the role played in the mediation of international crises." 

It is noteworthy that Hamoudi arrived last Sunday to Islamabad, headed by a delegation comprising the Chairman of the Investment Authority, and representatives of the Committees on Foreign Relations and Parliamentary Services.

[Pitcher]

Thanks Thugs good article.  I don’t know what happened but I know it wasn’t your fault.  People just don’t get you sometimes.  

 

 

 

https://metro.co.uk/2019/07/27/clown-starts-mass-brawl-cruise-guests-using-plates-weapons-10471999/
 

Clown starts ‘mass brawl on cruise with guests using plates as weapons’

Elisa MenendezSaturday 27 Jul 2019 2:36 pm

It is believed the fight started because someone was unhappy that the passenger was dressed as a clown (Picture: Getty/Twitter/Richard Gaisford)

A mass brawl broke out on a P&O cruise ship over a passenger dressed as a ‘clown’.

One witness said there was ‘blood everywhere’ after guests allegedly used plates and furniture as weapons on board the ship headed to Southampton from Bergen, Norway, on Friday.

Six people – three men and three women – were assaulted, with many suffering injuries of bruises and cuts.

A man, 43, and a woman, 41, from Chigwell, Essex, have been arrested on suspicion of assault and are in police custody in connection to the incident.

It is believed the fight broke out after one group had requested a cruise with no fancy dress and were annoyed that a passenger dressed as a clown had shown up.

Passengers suspected of taking part in the violence were reportedly confined to their cabins on the last day of the cruise, before being greeted by Hampshire police when the ship docked in Southampton on Saturday morning.

It is believed passengers were using plates as weapons (Picture: Twitter/Richard Gaisford)

 

Richard Gaisford, chief correspondent for ITV’s Good Morning Britain, was on the cruise at the time and was told by staff that they’d never seen anything like it.

He wrote on Twitter: ‘One witness, part of a group involved in the trouble, explained to staff that things kicked off when another passenger appeared dressed as a clown.

‘This upset one of their party because they’d specifically booked a cruise with no fancy dress. It led to a violent confrontation.’

He added that officers called for security staff to rush to the 16th floor restaurant at around 2am – around 12hours after the ship left Bergen, reported Mr Gaisford.

Passengers had enjoyed a black-tie evening, followed by an after-party during which the reporter said many consumed ‘large amounts of alcohol’.

Another passenger said: ‘I was in my room when the security tannoy happened at 2am.

‘I saw two people being escorted out by police – police holding their belongings – limping.

The incident occurred yesterday on a P&O Cruise Ship Britannia (Picture: Getty)

‘Just to clarify, the majority of those onboard were perfectly civilised and nice individuals. It was just ruined by a few drunk idiots.’

A P&O Cruises spokesman said: ‘Following an incident on board Britannia on Thursday evening we can confirm that all guests have now disembarked and the matter is now in the hands of the local police.’

Hampshire police said: ‘Officers attended after a number of people were assaulted on-board a cruise ship.

‘Six people, three men and three women were assaulted. A number of injuries were suffered including significant bruising and cuts.’

 

[ChuckFinley]

11 minutes ago, DinarThug said:

Political optimism on the understandings of the federal government and the region

 

Saturday 27 July 2019

Baghdad / Muhannad Abdul Wahab

Erbil / Sundus Abdel Wahab 

 

 

Members of the House of Representatives expressed optimism about the current atmosphere of convergence and understanding between the federal government and the region, stressing that the talks between the parties are actively through the joint committees to resolve outstanding differences, but the deputies stressed that "will not be voting and pass the next budget for the year 2020 only after the agreement Full between Baghdad and Erbil on the oil file. "

A member of the legal committee Salim Shoshki: "The negotiations between the center and the region are conducted intensively through the committees formed to follow up the file of oil receivables between the center and the region."

The Shoshky said the "morning", "The committees formed after the visit of the President of the Government of the Territory to Baghdad are important messages and signals indicate that the Center and the region are determined and will to resolve the outstanding problems between them on oil dues," noting that "solving these problems need time, And deserve to give an opportunity to reach a result. "

He pointed out that "the territorial government has concluded some contracts with international companies for a long time, and the withdrawal from these companies have implications and implications, and the two governments to take responsibility for these repercussions and need to pause seriously to find effective solutions to these problems,"adding that " The center and the region reached results through discussions that the provincial government to deliver the agreed quantity of oil to the Baghdad government, but the mechanism and how and the technical and tactical side need sufficient time.

"Both sides agreed on one principle, namely, understanding within the framework of the Iraqi constitution and not to declare the media until the talks reach real results," Shoshaki said. "This news or statements may give a negative role to the agreement between the parties regarding the oil dues."

"The budget of 2020 will not be voted on and will not be discussed until after a full agreement between Baghdad and Erbil on the oil file," he said.

 

The position of Parliament

For his part, MP from the stream of wisdom Jassim al-Bukhaati, said that "the state of tides between the region and the center is not new," calling for "the House of Representatives to take a serious attitude towards the commitment of the provincial government to pay its oil to the federal government."

Al-Bukhati said in a statement to al-Sabah that "taking privileges by the region and not paying dues to the central government will create crises and major problems. The House of Representatives should say its word in this regard, despite the existence of alliances based on interests and positions. , That "there is a determination of deputies and political blocs pressing towards the commitment of the territorial government to pay their oil dues."

He stressed that the "budget 2020 Federal will not pass; only in the case of taking promises and pledges on the implementation of all the issues of the budget paragraphs," noting that "the meetings of the Minister of Oil and Finance was not completed because of differences and the withdrawal of the Minister of Oil," noting that "the next meeting of the House of Representatives Must be attended by the Minister of Oil with representatives of the Ministry of Finance for the purpose of knowing the amounts of money spent and the amounts of oil that have been paid to the federal government by the region.

 

Areas of sisterhood

The visit of a high-level delegation from the federal government to the Kurdistan region and their meeting with the Prime Minister of the Kurdistan Regional Government pleased Barzani positive results, and it was agreed to put mechanisms on the outstanding issues through the formation of technical committees of ministries and related parties.

Commenting on the new atmosphere in the region, member of the General Council of the Movement for Change, Dr. Saber Ismail, said: "The Kurdistan region is currently witnessing a new government, a new and new personal policy represented by Prime Minister Barzani and a new government program that differs from government programs Previous at the internal level and its relationship with the federal government. "

He added, "All outstanding problems from previous governments with the Center must be resolved, and the parties agree on points in favor of the Iraqi people and serve Iraq and its sovereignty, land and people, and continue to seek solutions to radical constitutional benefit the interests of all," pointing out that " Which is being discussed and the formation of technical committees on them and discussed in several meetings in the present and future; it is related to the economy, oil, budget and disputed areas.

"We believe that it is wrong to call some areas disputed, and we see the need to replace them with the term" sister regions "because they include all the Arab and Kurdish nationalities and the Turkmans are brothers. There is no difference between them. If the city of Kirkuk joins the region, Kirkuk remains Iraqi. " 

 

Steps of the Region

In the same matter, said the Kurdistan Democratic Party Chairman of the Committee on Foreign Relations in the Parliament of the province, Ribawar Babki in an interview for "morning": "The Kurdistan Regional Government is serious in the issue of resolving outstanding problems between the region and the federal government and show flexibility in dealing with problems according to the Iraqi constitution, The visit of senior officials in the federal government to Erbil, headed by Oil Minister Thamer Ghadhban and Finance Minister Fouad Hussein and the head of the popular crowd Faleh Fayyad, comes within the steps of understanding, which began recently to visit the Prime Minister of the province Barzani pleased to Baghdad and his meeting with the presidencies Lath which resulted in the existence of understandings and put points on the letters through the formation of technical committees that have been agreed upon. "

He added that the talks between the two sides on the three files of the President of oil and gas as well as disputed areas and the security file the return of the Peshmerga forces, and also the subject of budget and financial matters, as the region requires the delivery of 250 thousand barrels per day of oil in exchange for sending salaries of employees, That "there is a strong and urgent will between the two governments in the center and the region in resolving these files under the Iraqi constitution, which will be the separation between the parties, and find a formula to resolve these key files with political dimensions and strategic within the constitutional framework."

link

Thug , are you ever GOI g to take a break? 

[ChuckFinley]

Just now, Pitcher said:

Thanks Thugs good article.  I don’t know what happened but I know it wasn’t your fault.  People just don’t get you sometimes.  

 

 

 

https://metro.co.uk/2019/07/27/clown-starts-mass-brawl-cruise-guests-using-plates-weapons-10471999/
 

Clown starts ‘mass brawl on cruise with guests using plates as weapons’

Elisa MenendezSaturday 27 Jul 2019 2:36 pm

It is believed the fight started because someone was unhappy that the passenger was dressed as a clown (Picture: Getty/Twitter/Richard Gaisford)

A mass brawl broke out on a P&O cruise ship over a passenger dressed as a ‘clown’.

One witness said there was ‘blood everywhere’ after guests allegedly used plates and furniture as weapons on board the ship headed to Southampton from Bergen, Norway, on Friday.

Six people – three men and three women – were assaulted, with many suffering injuries of bruises and cuts.

A man, 43, and a woman, 41, from Chigwell, Essex, have been arrested on suspicion of assault and are in police custody in connection to the incident.

It is believed the fight broke out after one group had requested a cruise with no fancy dress and were annoyed that a passenger dressed as a clown had shown up.

Passengers suspected of taking part in the violence were reportedly confined to their cabins on the last day of the cruise, before being greeted by Hampshire police when the ship docked in Southampton on Saturday morning.

It is believed passengers were using plates as weapons (Picture: Twitter/Richard Gaisford)

 

Richard Gaisford, chief correspondent for ITV’s Good Morning Britain, was on the cruise at the time and was told by staff that they’d never seen anything like it.

He wrote on Twitter: ‘One witness, part of a group involved in the trouble, explained to staff that things kicked off when another passenger appeared dressed as a clown.

‘This upset one of their party because they’d specifically booked a cruise with no fancy dress. It led to a violent confrontation.’

He added that officers called for security staff to rush to the 16th floor restaurant at around 2am – around 12hours after the ship left Bergen, reported Mr Gaisford.

Passengers had enjoyed a black-tie evening, followed by an after-party during which the reporter said many consumed ‘large amounts of alcohol’.

Another passenger said: ‘I was in my room when the security tannoy happened at 2am.

‘I saw two people being escorted out by police – police holding their belongings – limping.

The incident occurred yesterday on a P&O Cruise Ship Britannia (Picture: Getty)

‘Just to clarify, the majority of those onboard were perfectly civilised and nice individuals. It was just ruined by a few drunk idiots.’

A P&O Cruises spokesman said: ‘Following an incident on board Britannia on Thursday evening we can confirm that all guests have now disembarked and the matter is now in the hands of the local police.’

Hampshire police said: ‘Officers attended after a number of people were assaulted on-board a cruise ship.

‘Six people, three men and three women were assaulted. A number of injuries were suffered including significant bruising and cuts.’

 

Ok, I guess we know who needs adult monitoring. 

[DinarThug]

9 minutes ago, Pitcher said:

Thanks Thugs good article.  I don’t know what happened but I know it wasn’t your fault.

Clown starts ‘mass brawl on cruise with guests using plates as weapons’

 

Don’t Ask Me What Happened - I Was Completely Ship Faced !  

 

     

[DinarThug]

LINK

Agreement on Free Trade Area between Iraq and Kuwait at the Experts' Table

 

 

 

2019/7/27 14:00

 

 

Economists dealt with the agreement of free trade zone between Iraq and Kuwait.

The Baghdad Economic Forum, in cooperation with the Economic Elite Group, organized an economic workshop titled "Iraq's Trade Relations with Neighboring Countries, Benefits and Costs within the Framework of International Trade Relations". 

The head of the Baghdad Economic Forum, Fares Al-Salman, focused on the Gulf oil conflict, the agreement on the establishment of a free trade area between Iraq and Kuwait, the economic and political challenges facing Kuwait and its economic relations with its regional environment. On the distribution of common wealth with neighboring countries.  He said: "The Baghdad Economic Forum proposes the formation of a voluntary advisory council of Iraqi competencies to support and strengthen the Iraqi negotiator in defense of national rights and national security of Iraq."

He pointed out that "we should consider the Kuwaiti strategy as one package, although Kuwait has marketed it individually to cover and facilitate the promotion of: the Greater Mubarak Port Project, the joint venture agreement for the joint oil fields, the railway project, the agreement with China for the economic investment of the islands of Warba, Boubyan areas of northern Kuwait, amending the Kuwaiti constitution to allow the non-Muslimization of non-Muslims."  "The strategic economic agreement with China will make the islands of Kuwait adjacent to Iraq and the northern Kuwait region an advanced Chinese economic colony capable of manufacturing Chinese goods, which can be a national product of Kuwait and can carry nationalities and other characteristics as needed," he said. And neighboring countries and the Eastern Mediterranean region, Europe, as well as the exploitation of Iraqi territory and railways to reach Turkey and the ports of the eastern Mediterranean and from them to the European market.

He urged "the Iraqi negotiator to take into consideration Iraq's geographic location and demographic strength, sources of wealth, military strength," pointing out that it is a Muslim partnership project will not live long unless it is balanced and fair, so the parties must go towards the project of real economic integration, Or to enter into a more advanced stage of the project of economic integration is that the Iraqi government proposes to the Kuwaiti government a project alternative to the package of proposed agreements, the project of the Confederacy Union, similar to the Union of Lowlands (the Netherlands and Belgium), as well as the European common market.

A member of the Baghdad Economic Forum, Ikram Abdul Aziz, stood at the Jordanian-Jordanian trade agreement and its various points. Abdul Aziz pointed out that the conclusion of this agreement on the negative side is the weakness of the local product against the importer and its effects on local industry and agriculture. And in terms of oil, where it will be sold at prices lower than the world price. On the positive side, it is to facilitate trade exchange and develop human resources operating in various sectors, as well as a new outlet for the export of crude oil. The representative of the Ministry of Commerce Musab Osama has stood at the secondary framework for the conclusion of treaties under the Vienna Convention for the conclusion of treaties in 1969, and lashed Osama on the Iraqi law of treaties No. 35 of 2015 and the most important terms and definitions and the role of the Ministry of Foreign Affairs in this matter. 

Forms of agreements

Faleh Al-Zubaidi of the Faculty of Management and Economics, Mustansiriya University, discussed the importance of trade agreements with neighboring countries. He said: "The conclusion of trade and political agreements and any form of agreements between countries must be based on mutual interests and mutual benefits. And the interest of common things belonging to those countries and based on the most of several factors, most notably the geographical factor, which is of great importance between neighboring countries as well as the dimension of civilization and the convergence of religious and ethnic. 

Economic dimension

He pointed out that "the neighboring countries of Iraq seek to conclude agreements with Iraq because of the potential of the impact and influence with him for the most important reasons that the country is mediating a region is very important and dangerous because of its geographical location and the countries of the region strategic depth, similar to Iraq with Turkey and Iran and Syria, Of the diversity of national, religious and sectarian, as well as that Iraq is of great importance in the hearts of the peoples of the region in general because of its cultural status and historical depth, as well as the economic dimension and is the most important factors that push those countries to conclude agreements with Iraq after the release of many wars and international sanctions and the blockade of its economy, Therefore, all countries are trying to increase exports to Iraq to achieve substantial material gains. In view of these countries, the Iraqi market is an important commercial project for them."

 

#############

 

Agreement on Free Trade Area between Iraq and Kuwait at the Experts' Table    LINK

[Miamiheatnic]

What about agreement of an RV? Hahah  thanks for the news articles. 

[cranman]

7 minutes ago, DinarThug said:

LINK

Agreement on Free Trade Area between Iraq and Kuwait at the Experts' Table

 

 

 

2019/7/27 14:00

 

 

Economists dealt with the agreement of free trade zone between Iraq and Kuwait.

The Baghdad Economic Forum, in cooperation with the Economic Elite Group, organized an economic workshop titled "Iraq's Trade Relations with Neighboring Countries, Benefits and Costs within the Framework of International Trade Relations". 

The head of the Baghdad Economic Forum, Fares Al-Salman, focused on the Gulf oil conflict, the agreement on the establishment of a free trade area between Iraq and Kuwait, the economic and political challenges facing Kuwait and its economic relations with its regional environment. On the distribution of common wealth with neighboring countries.  He said: "The Baghdad Economic Forum proposes the formation of a voluntary advisory council of Iraqi competencies to support system" rel="">support and strengthen the Iraqi negotiator in defense of national rights and national security of Iraq."

He pointed out that "we should consider the Kuwaiti strategy as one package, although Kuwait has marketed it individually to cover and facilitate the promotion of: the Greater Mubarak Port Project, the joint venture agreement for the joint oil fields, the railway project, the agreement with China for the economic investment of the islands of Warba, Boubyan areas of northern Kuwait, amending the Kuwaiti constitution to allow the non-Muslimization of non-Muslims."  "The strategic economic agreement with China will make the islands of Kuwait adjacent to Iraq and the northern Kuwait region an advanced Chinese economic colony capable of manufacturing Chinese goods, which can be a national product of Kuwait and can carry nationalities and other characteristics as needed," he said. And neighboring countries and the Eastern Mediterranean region, Europe, as well as the exploitation of Iraqi territory and railways to reach Turkey and the ports of the eastern Mediterranean and from them to the European market.

He urged "the Iraqi negotiator to take into consideration Iraq's geographic location and demographic strength, sources of wealth, military strength," pointing out that it is a Muslim partnership project will not live long unless it is balanced and fair, so the parties must go towards the project of real economic integration, Or to enter into a more advanced stage of the project of economic integration is that the Iraqi government proposes to the Kuwaiti government a project alternative to the package of proposed agreements, the project of the Confederacy Union, similar to the Union of Lowlands (the Netherlands and Belgium), as well as the European common market.

A member of the Baghdad Economic Forum, Ikram Abdul Aziz, stood at the Jordanian-Jordanian trade agreement and its various points. Abdul Aziz pointed out that the conclusion of this agreement on the negative side is the weakness of the local product against the importer and its effects on local industry and agriculture. And in terms of oil, where it will be sold at prices lower than the world price. On the positive side, it is to facilitate trade exchange and develop human resources operating in various sectors, as well as a new outlet for the export of crude oil. The representative of the Ministry of Commerce Musab Osama has stood at the secondary framework for the conclusion of treaties under the Vienna Convention for the conclusion of treaties in 1969, and lashed Osama on the Iraqi law of treaties No. 35 of 2015 and the most important terms and definitions and the role of the Ministry of Foreign Affairs in this matter. 

Forms of agreements

Faleh Al-Zubaidi of the Faculty of Management and Economics, Mustansiriya University, discussed the importance of trade agreements with neighboring countries. He said: "The conclusion of trade and political agreements and any form of agreements between countries must be based on mutual interests and mutual benefits. And the interest of common things belonging to those countries and based on the most of several factors, most notably the geographical factor, which is of great importance between neighboring countries as well as the dimension of civilization and the convergence of religious and ethnic. 

Economic dimension

He pointed out that "the neighboring countries of Iraq seek to conclude agreements with Iraq because of the potential of the impact and influence with him for the most important reasons that the country is mediating a region is very important and dangerous because of its geographical location and the countries of the region strategic depth, similar to Iraq with Turkey and Iran and Syria, Of the diversity of national, religious and sectarian, as well as that Iraq is of great importance in the hearts of the peoples of the region in general because of its cultural status and historical depth, as well as the economic dimension and is the most important factors that push those countries to conclude agreements with Iraq after the release of many wars and international sanctions and the blockade of its economy, Therefore, all countries are trying to increase exports to Iraq to achieve substantial material gains. In view of these countries, the Iraqi market is an important commercial project for them."

 

#############

 

Agreement on Free Trade Area between Iraq and Kuwait at the Experts' Table    LINK

That will be some one sided trading. UNLESS  something changes!

[Pitcher]

30 minutes ago, DinarThug said:

Don’t Ask Me What Happened - I Was Completely Ship Faced !  

 

 

The term Ship Faced began when a drunk cowboy stumbled and fell face first into a big pile of Ship.  He staggered back into the bar to grab another brew.  His buddies started laughing at him hysterically.  He says what, why are you laughing at me?  They said Bro you’re Ship Faced!!!

 

Kind of like this guy.

 

 

 

 

 

 

[DinarThug]

 

LINK

CBI sets the criteria for the rejection of banknotes of the dollar and the euro

 

28th July, 2019

 

The Central Bank of Iraq on the criteria that are relied on in the rejection of banknotes of the dollar and euro in the process of counting and sorting.

The bank pointed out that the most important criteria are: - 

1 - if it was cut in one corner or was oppressed or lost any part of the paper area. 

2 - If it has been torn and repaired with a transparent adhesive tape from any side. 

3 - If it contains a seal of large size or several small seals to affect their features.

4- If the effects of trading and use appear to be "smug" in order to affect their form or features. 

5- If strange substances have been caught and have affected their features such as inks, dyes, glues, crushed, cooked, processed, fat or oils. 

6 - if stored in the conditions of storage is incorrect, which leads to break or smell of mold. 

The Central Bank of Iraq was established as an independent bank under its law of March 6, 2004 as an independent body responsible for maintaining price stability and implementing monetary policy. It supervises 10 commercial banks, 26 private banks and 16 Islamic banks, as well as 19 foreign banks. 6 financial institutions and 31 financial transfer companies.

[DinarThug]

 

LINK

Association of Banks organizes a course "Treasury Management"

 

28th July, 2019

 

 

On Sunday, the Association of Iraqi Private Banks organized a course on "Treasury Management" with the participation of 38 trainees

In cooperation with the Central Bank of Iraq, Al-Duwa established the Center for Banking Studies and a group of joint efforts

The five-day course is aimed at Treasury and Investment Department staff and risk management and operations staff

[DinarThug]

These Next Two Articles Relate To Iraq’s Movement To Article VIII Bro’s !  

 

      

 

 

 

 

Statement by Mr. Hazem Beblawi, Executive Director for Iraq and Ms. Maya Choueiri, Senior Adviser to the Executive Director July 19, 2019 

1. On behalf of the Iraqi authorities, we would like to thank staff for their constructive engagement, as well as the valuable capacity development provided to Iraq in support of its policy and reform efforts. 

Recent Developments 

2. Since the last Article IV discussion for Iraq, several elements contributed to improved political and economic conditions in the country: The formation of a new government, the recapture of territories previously held by ISIS, and a gradual recovery in oil prices. Millions of people displaced by the war against ISIS returned home, and negotiations around trade agreements with neighboring countries have progressed. Nonetheless, hundreds of thousands remain internally displaced and reconstruction efforts are delayed by many factors, including implementation capacity. 

3. The economy is gradually recovering following the deep economic strains of the last four years. Growth is expected to be robust in 2019, reversing the contraction seen in the past two years, thanks to a notable improvement in security conditions and higher oil prices. The non-oil economy is projected to grow at more than 5 percent, due to better rainfall, a rebound in electricity production, and the fiscal stimulus. Inflation remained low in 2018 and the fiscal balance turned to a large surplus of about 8 percent. Higher oil prices have also supported a steady increase in international reserves to US$65 billion, helping to rebuild solid buffers to external shocks and retire domestic debt, including unwinding about US$1 billion of indirect monetary financing. Growth and the positive fiscal balance contributed to reducing public debt-to-GDP by about ten percentage points in 2018 and the government has adopted a framework to control the issuance of guarantees, in cooperation with the Fund. Higher oil prices and the improvement in the underlying fiscal position also contributed to a marked improvement in the external position, as reflected in the large current account surplus (about 7 percent of GDP). At the same time, the spread between official and market foreign exchange rates has narrowed to below 2 percent in recent months. 

4. The authorities are fully aware that Iraq is facing the challenge of maintaining economic stability, while ensuring durable peace and inclusive growth. This entails rebuilding much needed infrastructure, addressing the legacy of conflict, ensuring the provision of services and job opportunities for all Iraqis, particularly the youth, and modernizing the economy. To address these challenges, the newly formed Government of Iraq has launched an ambitious reform and reconstruction agenda, outlined in the Recovery, Reconstruction, and Development Program and National Development Plan. In February 2018, in Kuwait, the international community committed to supporting Iraq’s reconstruction and development and pledged US$30 billion in the form of loans and guarantees at the International Conference for the Reconstruction of Iraq. A small portion of the needed reconstruction effort has, however, taken place to date, mainly due to limited absorptive and implementation capacity, as well as slow disbursement of pledged donor financing due to the heavy documentation requirements and project procedures.

Fiscal Policies and Reforms 

5. The authorities are faced with pressures to increase employment in the public sector to address unemployment, achieve justice for some groups that were affected by past fiscal consolidation efforts including militia forces that helped defeat ISIS, and meet legal requirements to absorb graduates of certain specializations. Accordingly, tightening the fiscal stance in the short run is politically and socially difficult. Nonetheless, the authorities fully agree on the need for reforms over the medium term, particularly in the areas of non-oil revenues, subsidies, and civil service. Parliament recently adopted a new civil service law as part of their effort to conduct a comprehensive review of the public sector functions and size. The reform of the electricity sector ranks high on the authorities’ agenda and priority has been given to increasing generation capacity to address power outages. Work in this area has resulted in increased electricity generation by about 25 percent in mid-May relative to the year before. Work to settle electricity-related cross-liabilities is ongoing. The authorities acknowledge that important challenges in the electricity sector remain, as outlined in paragraph 30 of the staff report. 

6. The authorities also concur with staff on the need to adopt a risk- and rules-based approach to fiscal policy as part of broader fiscal reforms to manage oil revenue more effectively, and they appreciate staff’s analytical work on the subject. In this connection, Parliament adopted a new General Financial Management Law in May 2019 that strengthens the legal framework for public financial management. The law defines general government for the first time, establishes the need for a medium-term fiscal framework and enshrines fiscal transparency requirements. It also limits parliament’s capacity to amend the budget, as well as the scope for spending to be authorized outside budget processes. 

7. Public financial management (PFM) reforms continue to rank high on the authorities’ agenda. They have adopted tight procedures for the approval of government guarantees, kept arrears under control, and enacted a new PFM law in May 2019. They are also designing and implementing a commitment control system for budget execution to avoid the emergence of new arrears. Moreover, budget transfers to the Kurdistan Regional Government were progressively restored during 2018 and have been included in the 2019 budget. The Ministry of Finance is planning to implement an Integrated Financial Management Information System with the support of the World Bank, for which the adoption of an updated budget classification and a chart of accounts is a prerequisite. Work in these areas is progressing, with the support of Fund technical assistance. 

Monetary, Exchange Rate, and Financial Sector Policies and Reforms 

8. The authorities remain committed to the peg to the U.S. dollar as it continues to provide a key nominal anchor to the economy. 

9. The authorities are taking measures to enhance the stability of the banking sector. The two largest state-owned banks, Rasheed and Rafidain, are being restructured. The authorities have made progress in procuring suppliers for core banking systems and have segregated legacy assets and liabilities into “bridge branches.” The Bureau of Supreme Audit is working on finalizing their accounts for 2014 and subsequent years. Once the core banking systems are fully operational, the authorities intend to have the two banks audited to international standards, which would allow their capital needs to be assessed accurately.

10. At the same time, the Central Bank of Iraq (CBI) is pursuing its efforts to strengthen the regulatory framework and improve prudential regulations in banking supervision to align them with Basel II Committee on Banking Supervision standards and guidelines. In this connection, supervisory guidelines on bank internal audit and compliance functions were prepared in the fall, with Fund technical assistance. Work is progressing on early identification of bank risks and the way to deal with weak banks, including early intervention of supervisors, corrective actions and their enforcement, banking crisis management and the supervisor’s role, as well as techniques for liquidating unviable banks. The CBI also intends to develop a deposit insurance scheme, which would help level the playing field across the banking sector. To promote financial development and inclusion, the CBI is working on strengthening payment systems and encouraging deposits, including public salary payments directly into bank accounts.

11. In June 2018, the Financial Action Task Force (FATF) welcomed Iraq’s significant progress in improving its AML/CFT regime and noted that “Iraq has established the legal and regulatory framework to meet the commitments in its action plan regarding the strategic deficiencies that the FATF identified in October 2013.” FATF thus considered that Iraq was no longer subject to the FATF’s monitoring process under its ongoing global AML/CFT compliance process. The authorities will continue to work to strengthen the AML/CFT framework. They consider that continued progress on AML/CFT will also help them address the transfer of illicit gains.

12. Good progress has been made in implementing the recommendations of the 2016 safeguards assessment of the CBI. Amendments to the Law on the Central Bank of Iraq to strengthen CBI governance have been enacted, and the revised audit committee charter now prohibits CBI executive representation on the committee. Work is ongoing on strengthening the capacity of internal audit and financial reporting.

Anti-Corruption Reforms 

13. The government is prioritizing anti-corruption efforts, with a focus on strengthening public institutions. A new High Council on Combatting Corruption, chaired by the Prime Minister, was established in February 2019. A Commission on Integrity was established in 2011 with the tasks of corruption prevention and enforcement, and it has investigated several high-profile corruption cases. Legislation to criminalize illicit enrichment, trading in influence, embezzlement, and all forms of bribery has been drafted. Iraq has also developed a system of asset declarations, and a large number of public officials are currently required to disclose their assets. The authorities agree with staff that streamlining the anti-corruption framework would make it more effective and less onerous for economic activity.

Conclusion 

14. Notwithstanding an improvement in security conditions and oil prices, Iraq faces the serious challenge of maintaining economic stability, while ensuring durable peace and inclusive growth. The Iraqi authorities very much value the Fund’s policy advice in addressing its economic challenges, and they would welcome a Post-Program Monitoring engagement. Continued Fund capacity development would be essential in the period ahead. The authorities have been calling on the Fund to resume visits to Baghdad, similar to the practice of other international institutions. They welcome the recent lowering of the Fund’s security rating for Baghdad to a medium level of residual risk and look forward to welcoming Fund staff again. 

link

[DinarThug]

IRAQ STAFF REPORT FOR THE 2019 ARTICLE IV CONSULTATION AND PROPOSAL FOR POST-PROGRAM MONITORING— INFORMATIONAL ANNEX 

 

Prepared By 

Middle East and Central Asia Department (In consultation with other departments) 

FUND RELATIONS (As of May 31, 2019)
Membership Status: Joined December 27, 1945; Article XIV 

General Resources Account 
SDR Million ---------- Percent of Quota 
__________________________
Quota 1,663.80 ---- 100.00% 
Fund Holdings of Currency 
3,425.13 ------------ 205.86% 
Reserve Tranche Position 
289.95 ---------------17.43 

 Latest Financial Arrangements 
Type---------- Date of Arrangement---- Expiration Date---- Amount Approved (SDR Million)---- Amount Drawn (SDR Million) 
Stand-By ----Jul 07, 2016--------------- Jul 06, 2019 -------3,831.00-------------------------------- 1,494.20 

Implementation of HIPC Initiative: Not Applicable
Implementation of Multilateral Debt Relief Initiative (MDRI): Not Applicable
Implementation of Catastrophe Containment and Relief (CCR): Not Applicable
As of February 4, 2015, the Post-Catastrophe Debt Relief Trust has been transformed to the Catastrophe Containment and Relief (CCR) Trust.

Safeguards Assessments

The most recent safeguards assessment of the Central Bank of Iraq (CBI) was completed in April 2016. It concluded that the CBI continues to face capacity constraints in its operations, as well as a difficult security situation on the ground. In line with the IMF safeguards assessment's recommendations the Governing Council of the CBI approved a new charter for the Audit Committee prohibiting CBI executive representation on the committee. Also, the Parliament has approved amendments to the Law on the Central Bank of Iraq to strengthen CBI governance and the internal control framework. However, progress in strengthening the capacity of internal audit and financial reporting has been slow.

Exchange Arrangement

Iraq’s de jure and de facto exchange rate arrangements are classified as a conventional peg arrangement. The Central Bank Law gives the Board of the Central Bank of Iraq (CBI) the authority to formulate exchange rate policy. Effective January 2, 2017, the cash and transfer exchange rate was set at ID 1,184 plus ID 6 (fees) per U.S. dollar. Effective May 24, 2018, the official exchange rate was set at ID 1,190 per U.S. dollar including the Central Bank commission (ID 1,182 plus ID 8 (fees)) according to the closing prices of the daily bulletin of gold & main currencies published on the CBI website (www.cbi.iq). 

The CBI provides foreign exchange at the official exchange rate for permissible transactions through its daily auctions (allocations), establishing a peg. However, because certain transactions are excluded from access to the CBI auctions, many transactions take place at parallel market exchange rates. The CBI publishes the daily volume of the auction allocation on its website.

Iraq continues to avail itself of the transitional arrangements under Article XIV, Section 2 but no longer maintains any exchange restrictions or multiple currency practices subject to Article XIV, Section 2, and currently maintains one multiple currency practice (MCP) subject to Fund approval under Article VIII, Section 3.1 {1}

_____________________________________________

{1}The authorities have imposed a requirement that, to access the CBI foreign exchange window, a purchaser must have at least one bank account that has been opened for a minimum of six months. This requirement does not apply for access to foreign exchange from other sources, including purchases of foreign exchange from commercial banks’ own resources. Staff will monitor the implementation of this requirement to ascertain whether any undue burdens on access to foreign exchange for current international transactions emerge from its application in practice 

___________________________________________

The MCP arises from the lack of a mechanism to ensure that the exchange rate at the CBI foreign exchange window and the market rates (retail exchange rates of commercial banks and exchange bureaus for the sale of foreign currency from sources other than the CBI foreign exchange window) do not deviate from each other by more than 2 percent. 

A previously identified exchange restriction arising from an Iraqi balance owed to Jordan under an inoperative bilateral payment agreement has been eliminated.

Article IV Consultation 

Upon the approval of the 36-month Stand-By Arrangement on July 7, 2016, Iraq was placed on the 24-month consultation cycle. The last Article IV consultation was concluded on August 1, 2017, along with the Second Review under the Three-Year Stand-by Arrangement. The staff report (IMF Country Report No. 17/251) was published on August 9, 2017, and is available on the internet.

Resident Representative

Mr. Kareem Ismail has been the resident representative for Iraq, based in Amman, since June 2018.

Technical Assistance, 2014–19 

(a series of 3 charts follows ... showing various IMF departments offering Iraq assistance in various categories ....with headings of Department --- Date --- Purpose  ....one entry stood out)

Department ----------- Date ------------ Purpose

LEG --------------------June 2015 ------Article VIII acceptance 
 

link

[DinarThug]

LINK

Ministry of Planning: Association of Iraqi private banks will have a big business in the reality of the country

 

28th July, 2019

 

 

The Ministry of Planning, on Sunday, that the Association of Iraqi private banks will have a big interest in the reality of the country economically, while the President of the Association Wadih al-Hanal to support entrepreneurs and provide their needs

The Association of Iraqi Private Banks organized a seminar at the station attended by Minister of Planning Nuri Sabah al-Dulaimi, Wadih al-Hanal, Wadih al-Hanal, and a number of entrepreneurs and leaders of the station to discuss a number of issues of interest to youth and how to support them in achieving their projects

"The station said a distinctive Iraqi and we rejoice when we see such creative young people," ministry spokesman Abdel-Zahra al-Hindawi said in a speech at the seminar, which was attended by "Economy News". "Iraq is now an appropriate environment for launching such pioneering activities for young people

He added that "these young people must be contained, and support this category may start from this place (station)," noting that "the station and the Association of Iraqi private banks are important foundations in the private sector

The spokesman of the ministry, that "the Association of private banks will have a great interest in the Iraqi reality, and that through what we have seen from its community initiatives, which was represented by Baghdad and other projects that have been completed

"The visit of the Minister of Planning today to the station came to get acquainted with the bright side of the Iraqi scene, considering that the station station is a beautiful flower in the country," he said, adding that "the Ministry of Planning on the order of its minister raised the bridge between the public and private sectors

For his part, the President of the Association of Iraqi private banks Wadih al-Hanal, after welcoming the Minister of Planning and the rest of the guests, that "the visit of the Minister of Planning for this place is very important to stimulate the creative youth energies at the station

Al-Hantal added that "the Association has achieved a lot of achievements and we are working on developing cadres by owning one of the largest training centers in the banking sector." As we found the enthusiasm of young people in entrepreneurship outside the banking sector, Of the youth energies through the opening of their projects and achieve their goals

He called on the Minister of Planning to "invite the Prime Minister to visit the station in order to get acquainted with the projects of youth and support them and listen to them and provide their needs

There were interventions in a number of issues raised by the attendees and responded to the Minister of Planning and expressed in his response the point of view of the government and its position on such projects

[blueskyline]

Thanks Thug .....The progress these last few months is amazing 

[ChuckFinley]

Thanks Thug, looks like things are coming together. 

[Dinarrock]

8 hours ago, DinarThug said:

IRAQ STAFF REPORT FOR THE 2019 ARTICLE IV CONSULTATION AND PROPOSAL FOR POST-PROGRAM MONITORING— INFORMATIONAL ANNEX 

 

Prepared By 

Middle East and Central Asia Department (In consultation with other departments) 

FUND RELATIONS (As of May 31, 2019)
Membership Status: Joined December 27, 1945; Article XIV 

General Resources Account 
SDR Million ---------- Percent of Quota 
__________________________
Quota 1,663.80 ---- 100.00% 
Fund Holdings of Currency 
3,425.13 ------------ 205.86% 
Reserve Tranche Position 
289.95 ---------------17.43 

 Latest Financial Arrangements 
Type---------- Date of Arrangement---- Expiration Date---- Amount Approved (SDR Million)---- Amount Drawn (SDR Million) 
Stand-By ----Jul 07, 2016--------------- Jul 06, 2019 -------3,831.00-------------------------------- 1,494.20 

Implementation of HIPC Initiative: Not Applicable
Implementation of Multilateral Debt Relief Initiative (MDRI): Not Applicable
Implementation of Catastrophe Containment and Relief (CCR): Not Applicable
As of February 4, 2015, the Post-Catastrophe Debt Relief Trust has been transformed to the Catastrophe Containment and Relief (CCR) Trust.

Safeguards Assessments

The most recent safeguards assessment of the Central Bank of Iraq (CBI) was completed in April 2016. It concluded that the CBI continues to face capacity constraints in its operations, as well as a difficult security situation on the ground. In line with the IMF safeguards assessment's recommendations the Governing Council of the CBI approved a new charter for the Audit Committee prohibiting CBI executive representation on the committee. Also, the Parliament has approved amendments to the Law on the Central Bank of Iraq to strengthen CBI governance and the internal control framework. However, progress in strengthening the capacity of internal audit and financial reporting has been slow.

Exchange Arrangement

Iraq’s de jure and de facto exchange rate arrangements are classified as a conventional peg arrangement. The Central Bank Law gives the Board of the Central Bank of Iraq (CBI) the authority to formulate exchange rate policy. Effective January 2, 2017, the cash and transfer exchange rate was set at ID 1,184 plus ID 6 (fees) per U.S. dollar. Effective May 24, 2018, the official exchange rate was set at ID 1,190 per U.S. dollar including the Central Bank commission (ID 1,182 plus ID 8 (fees)) according to the closing prices of the daily bulletin of gold & main currencies published on the CBI website (www.cbi.iq). 

The CBI provides foreign exchange at the official exchange rate for permissible transactions through its daily auctions (allocations), establishing a peg. However, because certain transactions are excluded from access to the CBI auctions, many transactions take place at parallel market exchange rates. The CBI publishes the daily volume of the auction allocation on its website.

Iraq continues to avail itself of the transitional arrangements under Article XIV, Section 2 but no longer maintains any exchange restrictions or multiple currency practices subject to Article XIV, Section 2, and currently maintains one multiple currency practice (MCP) subject to Fund approval under Article VIII, Section 3.1 {1}

_____________________________________________

{1}The authorities have imposed a requirement that, to access the CBI foreign exchange window, a purchaser must have at least one bank account that has been opened for a minimum of six months. This requirement does not apply for access to foreign exchange from other sources, including purchases of foreign exchange from commercial banks’ own resources. Staff will monitor the implementation of this requirement to ascertain whether any undue burdens on access to foreign exchange for current international transactions emerge from its application in practice 

___________________________________________

The MCP arises from the lack of a mechanism to ensure that the exchange rate at the CBI foreign exchange window and the market rates (retail exchange rates of commercial banks and exchange bureaus for the sale of foreign currency from sources other than the CBI foreign exchange window) do not deviate from each other by more than 2 percent. 

A previously identified exchange restriction arising from an Iraqi balance owed to Jordan under an inoperative bilateral payment agreement has been eliminated.

Article IV Consultation 

Upon the approval of the 36-month Stand-By Arrangement on July 7, 2016, Iraq was placed on the 24-month consultation cycle. The last Article IV consultation was concluded on August 1, 2017, along with the Second Review under the Three-Year Stand-by Arrangement. The staff report (IMF Country Report No. 17/251) was published on August 9, 2017, and is available on the internet.

Resident Representative

Mr. Kareem Ismail has been the resident representative for Iraq, based in Amman, since June 2018.

Technical Assistance, 2014–19 

(a series of 3 charts follows ... showing various IMF departments offering Iraq assistance in various categories ....with headings of Department --- Date --- Purpose  ....one entry stood out)

Department ----------- Date ------------ Purpose

LEG --------------------June 2015 ------Article VIII acceptance 
 

link

Great articles Thug and love the way you highlight! The second article that obviously is all over the dinar community again tells me that Iraq can be accepted into Article 8 ANYTIME!! All they actually have to do is write a letter to the IMF is what smarter minds have told me over the years! The article also specifically states there is NO exchange rate restrictions which means again the value can also change anytime!!

[Slave2Spartacus]

11 hours ago, DinarThug said:

Monetary, Exchange Rate, and Financial Sector Policies and Reforms 

8. The authorities remain committed to the peg to the U.S. dollar as it continues to provide a key nominal anchor to the economy. 

I,m gonna assume they mean committed to the peg  right up till it Rv.s ?  Yeah ??

[DinarThug]

 

13 hours ago, DinarThug said:

IRAQ STAFF REPORT FOR THE 2019 ARTICLE IV CONSULTATION AND PROPOSAL FOR POST-PROGRAM MONITORING— INFORMATIONAL ANNEX 

 

Prepared By 

Middle East and Central Asia Department (In consultation with other departments) 

FUND RELATIONS (As of May 31, 2019)
Membership Status: Joined December 27, 1945; Article XIV 

General Resources Account 
SDR Million ---------- Percent of Quota 
__________________________
Quota 1,663.80 ---- 100.00% 
Fund Holdings of Currency 
3,425.13 ------------ 205.86% 
Reserve Tranche Position 
289.95 ---------------17.43 

 Latest Financial Arrangements 
Type---------- Date of Arrangement---- Expiration Date---- Amount Approved (SDR Million)---- Amount Drawn (SDR Million) 
Stand-By ----Jul 07, 2016--------------- Jul 06, 2019 -------3,831.00-------------------------------- 1,494.20 

Implementation of HIPC Initiative: Not Applicable
Implementation of Multilateral Debt Relief Initiative (MDRI): Not Applicable
Implementation of Catastrophe Containment and Relief (CCR): Not Applicable
As of February 4, 2015, the Post-Catastrophe Debt Relief Trust has been transformed to the Catastrophe Containment and Relief (CCR) Trust.

Safeguards Assessments

The most recent safeguards assessment of the Central Bank of Iraq (CBI) was completed in April 2016. It concluded that the CBI continues to face capacity constraints in its operations, as well as a difficult security situation on the ground. In line with the IMF safeguards assessment's recommendations the Governing Council of the CBI approved a new charter for the Audit Committee prohibiting CBI executive representation on the committee. Also, the Parliament has approved amendments to the Law on the Central Bank of Iraq to strengthen CBI governance and the internal control framework. However, progress in strengthening the capacity of internal audit and financial reporting has been slow.

Exchange Arrangement

Iraq’s de jure and de facto exchange rate arrangements are classified as a conventional peg arrangement. The Central Bank Law gives the Board of the Central Bank of Iraq (CBI) the authority to formulate exchange rate policy. Effective January 2, 2017, the cash and transfer exchange rate was set at ID 1,184 plus ID 6 (fees) per U.S. dollar. Effective May 24, 2018, the official exchange rate was set at ID 1,190 per U.S. dollar including the Central Bank commission (ID 1,182 plus ID 8 (fees)) according to the closing prices of the daily bulletin of gold & main currencies published on the CBI website (www.cbi.iq). 

The CBI provides foreign exchange at the official exchange rate for permissible transactions through its daily auctions (allocations), establishing a peg. However, because certain transactions are excluded from access to the CBI auctions, many transactions take place at parallel market exchange rates. The CBI publishes the daily volume of the auction allocation on its website.

Iraq continues to avail itself of the transitional arrangements under Article XIV, Section 2 but no longer maintains any exchange restrictions or multiple currency practices subject to Article XIV, Section 2, and currently maintains one multiple currency practice (MCP) subject to Fund approval under Article VIII, Section 3.1 {1}

_____________________________________________

{1}The authorities have imposed a requirement that, to access the CBI foreign exchange window, a purchaser must have at least one bank account that has been opened for a minimum of six months. This requirement does not apply for access to foreign exchange from other sources, including purchases of foreign exchange from commercial banks’ own resources. Staff will monitor the implementation of this requirement to ascertain whether any undue burdens on access to foreign exchange for current international transactions emerge from its application in practice 

___________________________________________

The MCP arises from the lack of a mechanism to ensure that the exchange rate at the CBI foreign exchange window and the market rates (retail exchange rates of commercial banks and exchange bureaus for the sale of foreign currency from sources other than the CBI foreign exchange window) do not deviate from each other by more than 2 percent. 

A previously identified exchange restriction arising from an Iraqi balance owed to Jordan under an inoperative bilateral payment agreement has been eliminated.

Article IV Consultation 

Upon the approval of the 36-month Stand-By Arrangement on July 7, 2016, Iraq was placed on the 24-month consultation cycle. The last Article IV consultation was concluded on August 1, 2017, along with the Second Review under the Three-Year Stand-by Arrangement. The staff report (IMF Country Report No. 17/251) was published on August 9, 2017, and is available on the internet.

Resident Representative

Mr. Kareem Ismail has been the resident representative for Iraq, based in Amman, since June 2018.

Technical Assistance, 2014–19 

(a series of 3 charts follows ... showing various IMF departments offering Iraq assistance in various categories ....with headings of Department --- Date --- Purpose  ....one entry stood out)

Department ----------- Date ------------ Purpose

LEG --------------------June 2015 ------Article VIII acceptance 
 

link

 

5 hours ago, Dinarrock said:

Great articles Thug!

The second article that obviously is all over the dinar community 

again tells me that Iraq can be accepted into Article 8 ANYTIME!! 

 

It May Be All Over The Dinar Community Today ! But As Usual - It Was Posted Here On DV Yesterday !  

 

 

Good Call DinarRock !  

 

     

[DinarThug]

LINK

The Kurdistan Democratic Party is proposing a deal to end the 16-year conflict between Baghdad and Arbil

 

 

29th July, 2019

 

The Kurdistan Democratic Party (KDP) on Monday offered a deal to end a 16-year-old dispute between Baghdad and Erbil. 

"If we get rid of the chauvinist and racist statements and the people and parties who want to promote themselves for the elections early, Baghdad and Erbil will be able to reach a permanent agreement to end all the problems and differences that have lasted 16 years," party member Repin Salam told Mawazine News. 

"The results of the talks between the two parties, especially in the joint committee, are excellent according to the information that has reached us and will be completed in the coming days with another meeting in Baghdad after the departure of a large delegation representing the provincial government," Salam added. 

The party member, that "the head of the provincial government wants a comprehensive solution to the oil file and the budget and non-time or annual to end the crisis and even not to repeat so that you know Baghdad and Erbil money and what is on them." The relations between Baghdad and Erbil during the last few years marked improvement, especially after the recent visit of the President of the Government of the Territory Massorur Barzani. 

[6ly410]

thx bro 

[6ly410]

Presidency of the Parliament stresses the need to proceed with the legislation of the law of oil and gas

Political 08:30 - 29/07/2019

https://www.mawazin.net/Details.aspx?jimare=57820

 



 

Baghdad - Mawazine News

The First Deputy Speaker of the House of Representatives Hassan Karim al-Kaabi, on Monday, the need to proceed with the legislation of the law of oil and gas, pointing out that the draft law had already been sent by the government to the House of Representatives during the previous sessions.
"The adoption of the law comes to the importance of establishing a base for coordination and consultation between the federal authorities and the authorities of the region and oil-producing provinces and to establish the basis of cooperation between the relevant ministries in the federal government."
He pointed out that "the establishment of a modern and sophisticated system for the management of oil operations in the country, including thedevelopment of strategies and policies and plans for long and short term and medium to reach the highest level of growth in reserves and production and maximize the financial resources of Iraq through the optimal investment of oil wealth andmaintain on the basis of technical and economic sound "Ending 29 / h

[6ly410]

Let’s go wow!

[navira]

I see the guy in that article is frustrated already...getting ready to jump on somebody 

[lmb4321]

awesome!!!