HOT Topics Of The Day: HCL Issues Are Technical - Iraq Calls For Support From IMF & WB.

[Luigi1]

Here's some articles of Dinarian interests...

There is nothing technical to hold up HCL.

HCL could had been passed all along.

Syria demands all trade with Iraq be done with other currencies besides the USD.

GOI calls on the IMF & the WB to provide the necessary support to Iraq.

Treat as rumors.  Not verified.  Your opine.

 

 

 

 

TNT via Tishwash:                                 House Of Representatives:  Oil & Gas Issues Are Technical & Can Be Passed.

ARTICLE:  The Parliamentary Oil & Gas Committee pointed out that the Oil Law (HCL) is one of the important laws that concerns all of Iraq & not the Kurdistan region alone, noting that its draft contains controversial points that need to be stopped & despite this, the law can be passed.

 

Committee member Ali Al-Mashkoor explained, in an interview with Al-Sabah, that “there are seven points of contention regarding the Oil Law, some of which are administrative, some of which are professional & the law cannot be proceeded with without being cleared by both parties,” indicating that “one of the administrative disputes in the law is the desire to The Kurdish side should have the right to veto the issuance of decisions.”

 

Al-Mashkour added, “The region’s percentage in the budget came from the export value of oil, and now there is no export of the region’s oil, not even production,” noting that “the financial share is an entitlement separate from the oil entitlement that the region is supposed to pay, but it will constitute a future obstacle in the budget.” Although it is a fixed share, as it is the right of the Kurdish citizen.”

 

 

 

 

 

 

From Other Sources:                           Al-Mashkoor Expressed His Optimism In Passing The Oil & Gas Law & Said That “The Draft Can Be Legislated Within An Understanding & Complementary Process, But Imposing Opinions Are Incorrect”

ARTICLE:  explaining that “the law was returned to the government without revision or amendment, even if there were disagreements on some of its points.” ". Al-Mashkoor stated that “the Oil Law guarantees the rights of all governorates in the available proportion,” pointing out that “some governorates are demanding an increase in their share, whether the request is professional or administrative.”

 

 

 

 

 

Tishwash:                        After The Exchange Volume Exceeded One Billion Dollars:  An Iraqi-Syrian Move To Adopt Currencies Other Than The Dollar.

ARTICLE:   The head of the Iraqi-Syrian Business Council, Hassan Sheikh Zaini, revealed that the volume of trade exchange between Iraq & Syria has exceeded the billion-dollar barrier, while pointing out that there is a mechanism to adopt currencies other than the Dollar in this exchange.

 

Sheikh Zaini said, “The joint committees between the two countries are looking for a mechanism for trade exchange away from the Dollar, since Syria currently exchanges in the European currency (the euro),” according to the official newspaper.

 

He added, "There are other platforms and currencies that Syria exchanges with other countries & Iraq may benefit from them in the event of trade with them, especially with the volume of exchange between the two countries reaching more than a billion Dollars annually."

 

He stated that "the two countries may use the Russian Ruble, the Japanese Yen, the Chinese Yuan, the Emirati Dirham, or other currencies to sustain trade exchange between them," calling for "the establishment of banks for commercial exchanges to enable the possibility of abandoning the Dollar & creating another platform in this regard."

 

He pointed out that "the use of other currencies in trade exchange between Iraq & Syria reveals the two countries' need for each other, by benefiting from products of various types, industrial and agricultural."

 

He explained, "There are joint Iraqi-Syrian committees at most levels, such as agriculture, industry, trade, transportation, customs, & everything related to food and medicine.  They supervise the entry routes for goods & seek to overcome many obstacles that may hinder joint trade between the two countries."

 

 

 

 

Tishwash:                                      Al-Atwani Calls On the International Monetary Fund & the World Bank To Provide The Necessary support To Iraq.

ARTICLE:  Chairman of the Finance Committee, Representative Atwan Al-Atwani, called on the IMF & the World Bank to provide the necessary support to Iraq in the areas of exchanging experiences & training national cadres.

 

The media office of the Chairman of the Finance Committee stated in a statement received by a news agency, that “The Chairman of the Parliamentary Finance Committee, Atwan Al-Atwani, participated this evening, Monday, via closed-circuit television, in the deliberative meeting of the IMF regarding the financial & economic situation in Iraq.”  

 

He added, "Al-Atwani provided a complete briefing on the financial & economic situation & the provisions and programs included in the tripartite budget law for the years (2023-2025) that are consistent with the government program to advance various sectors, activate the private sector, encourage investment & support investors, in order to achieve sustainable development." 

Al-Atwani stressed, according to the statement, that “approving the tripartite budget gave the government great comfort in terms of contracting, implementing projects & attracting foreign companies to implement major projects,” pointing out that “the Finance Committee, through monitoring spending & financing and implementing plans & programs, seeks integration between the legislative & executive authorities.” Because we want this government to succeed, especially since it is taking steady steps towards achieving the aspirations of the people.” 

Al-Atwani pointed out that “the National Service Government is serious about moving the wheel of the economy and development & has ambitious programs to advance various productive sectors & maximize non-oil revenues, to leave the state of excessive dependence on oil in forming the general budget.” 

 

Al-Atwani concluded his participation by calling on the IMF & the WB to provide the necessary support.  For Iraq in the areas of exchanging experiences & training national cadres, to develop our banking system, especially as we are moving towards activating the digital financial dealing system and automating taxes, customs and other service sectors that generate financial revenues for the state.

 

He stated that "the two countries may use the Russian Ruble, the Japanese Yen, the Chinese Yuan, the Emirati Dirham, or other currencies to sustain trade exchange between them," calling for "the establishment of banks for commercial exchanges to enable the possibility of abandoning the Dollar & creating another platform in this regard."

 

He pointed out that "the use of other currencies in trade exchange between Iraq & Syria reveals the two countries' need for each other, by benefiting from products of various types, industrial and agricultural."

 

He explained, "There are joint Iraqi-Syrian committees at most levels, such as agriculture, industry, trade, transportation, customs, & everything related to food and medicine.  They supervise the entry routes for goods & seek to overcome many obstacles that may hinder joint trade between the two countries."

[Luigi1]

Now for some daily humor from Dinarland...

 

 

MarkZ  Update- Some highlights by PDK-Not verbatim.

THREAD:

 

Member:  Good morning, Mark & Family.

Member:  My name is Inigo Montoya, you drank my coffee! Prepare to die! lol.

Member: Wishing you all the greatest of Taco Tuesday Blessings!!! 

Member: I "feel" great special news inbound in days ahead.

Member: Is there any chance Iraq will go by themselves before the rest?

MZ: I think there is a slim chance.

Member: If Iraq is on the WTO. That’s good news.

Member: Are your bond contacts still not talking??

Member: I would not talk if I had an NDA….just sayin.

MZ: Nader had a couple good videos…talking about sitting down with the IMF & world bank to provide the necessary support for Iraq. And the digitalization of the Iraq banking system. They are working heavily on the HCL right now to restore oil revenues to the Kurdish region & moving forward with the 3 year budget.  Be sure to go watch & share his videos. 

MZ: MilitiaMan also had a great one….be sure to watch it and like and share.

MZ: The WTO, the IMF & World Bank are there working with Iraq for the last week or two.  The WTO & Iraq are still talking about Iraq’s ascension to the WTO. Iraq has met all the markers & goals…..so we are waiting on that news.

Member: Mark, March 17th Iraq lost their sovereignty & their anniversary is coming up. I wonder if it will happen this coming March the 17th?

MZ: “Twenty-five countries currently waiting to join BRICS-South African envoy”

MZ: “Argentina's president Milei is pushing a law that will imprison anyone in the central bank printing money”   I love it.

MZ: “What are Shadow Banks & why are they failing in China?”  Shadow banks are unlicensed investment firms that act as banks. They are really hurting bad. Along with Evergrande & Country Gardens & other massive housing companies failing in China.

MZ: European investment in China is under threat with failing shadow banks ….European banks are heavily invested in this sector which is imploding. They have invested Trillions in China which is now going belly up.

MZ: In 2008 Lehman brothers collapse was a fraction of that & nearly crashed the world financial system….. We are looking at a 2-3 times higher collapse right now. We are watching the death of the fiat system. It is right in front of our eyes.

MZ: “The EuroZone is about to go bust”  This is published from the Telegraph in the U.K. are hearing reports that European banks & European Central Banks are losing money & posting losses.

Member:  I wonder will we actually see a crash or will it be covered up somehow? Been hearing about this crash for a long time.

MZ: I believe we will see a crash but they will do their best to blame Putin or anyone else they can as the latest boogeyman…but it wont hurt…imo.

Member: I overheard the banks talking about getting money from the Treasury not the federal reserve.

Member: I can't wait to see/feel those Rainbow currency bills in person!

Member:  Mark do you think that our money surely will be safe at the RV?

Member: If the QFS is real it will be…if not….well we may have to get creative to protect it…imo.

Member: I think its good news for us that the head of the Rothschild banking cabal died this week!!!

Member:  I do believe Roth passing was the last marker ….always been told it would start in London let’s hope it flips from here.

Mark: What’s your gut telling you? I've heard you say it's not quite ready yet What's your markers you’re looking for?

MZ: I’m going to see if Sheila can join us tonight & give us an update. (CMKX & currency contact).

Member:  Lord, we are so weary, strengthen our resolve to help make this the world you wanted for us!

Member: Mark I hope yuu have an awesome week -thanks as always for Great news.

 

[NWGUY]

HCL is the biggest hurdle for Iraq.  It has mostly been the Kurds stopping it.  Most due to greed.  Every time they get close to getting it done, the Kurds seem to back out.  We need this done, like we need oxygen!   I really think, that this is the key for the RV.  Fingers crossed that they find a way!  

[edbeach]

Didn't a report out yesterday  stating no need for passing the HCL  the supreme court a passed their law saying Kurdistan would have to send the oil funds to Iraq and that they Sup Court advised stated Iraq to pay the salariesof Kurds? So they would not need to have HCL since the Court had made the final ruling as long as Kurdistan abide by the final ruling

[Luigi1]

6 minutes ago, edbeach said:

Didn't a report out yesterday  stating no need for passing the HCL  the supreme court a passed their law saying Kurdistan would have to send the oil funds to Iraq and that they Sup Court advised stated Iraq to pay the salariesof Kurds? So they would not need to have HCL since the Court had made the final ruling as long as Kurdistan abide by the final ruling

 

The issues are all the holdups of the HCL are technical in nature or nothing of any importance is holding it up. 

 

If true...how many years were wasted holding up the HCL for nothing important at all?

 

The Iraqi citizens have been suffering all the time for nothing.

[NWGUY]

1 hour ago, edbeach said:

Didn't a report out yesterday  stating no need for passing the HCL  the supreme court a passed their law saying Kurdistan would have to send the oil funds to Iraq and that they Sup Court advised stated Iraq to pay the salariesof Kurds? So they would not need to have HCL since the Court had made the final ruling as long as Kurdistan abide by the final ruling

 

Some of the articles are fake news, and some of them are reruns from long ago.  My understanding, is that it has to be approved by Parliament, to become a law, but that the Kurds keep backing out.  Now, I could be wrong, but I do believe that it won't become law until Parliament gets it together.  I find it hard to believe that the courts have the power to make the HCL Law happen.

[edbeach]

But the Iraq & Kurds both say the Supreme Courts the law of Land & final. Yet the Kurds keep trying to fight the action of Supreme Court even though they agree is final of Sup Court actions in Iraq very confusing  they don't want to give up the oil money. The Court agrees on Iraq paying the Kurds the salary but want a list of people to get the money. 

[Luigi1]

4 minutes ago, edbeach said:

But the Iraq & Kurds both say the Supreme Courts the law of Land & final. Yet the Kurds keep trying to fight the action of Supreme Court even though they agree is final of Sup Court actions in Iraq very confusing  they don't want to give up the oil money. The Court agrees on Iraq paying the Kurds the salary but want a list of people to get the money. 

 

Yup.  The Kurds were never the issue, just an excuse to drag their feet.

HCL could had been enacted years ago.

[NMP2017]

19 hours ago, edbeach said:

Didn't a report out yesterday  stating no need for passing the HCL  the supreme court a passed their law saying Kurdistan would have to send the oil funds to Iraq and that they Sup Court advised stated Iraq to pay the salariesof Kurds? So they would not need to have HCL since the Court had made the final ruling as long as Kurdistan abide by the final ruling

Sadly court rulings in Iraq mean absolutely NOTHING! Just ask Warka Bank! Courts ruled in their favor WAY BACK in the day and more than 10 years later no compliance to the ruling by the CBI

[NMP2017]

Greed and corruption are holding up the HCL...It was supposedly ready to go just a few months ago until someone decided to make a change RIGHT before signing it into law!