Wednesday Morning News Summaries
Economic Commission: We do not need to borrow from the World Bank to finance the dry canal
The Economic Committee is claiming that Iraq doesn't need to borrow from the World Bank, that it would just make them even more indebted to the WB than they already are.....they claim they have enough funds for the canal project once the budget is passed.
Urgent .. Maliki: We decided to exchange money without approving the budget
I read this and went "hmmmm" what does Maliki mean by "exchanging money".....stating that it is constitutionally authorized....is he referring to the COM agreeing to "exchange" from the 2013 budget to the 2014 budget numbers, even though the budget has yet to be approved......or does he mean some type of "exchange" as we think of exchange.....are you about to witness rolling thunder as this plays forward.....interestingly short article.
This is an article that talks about a British report that has been out for several weeks and we have hashed over already....it also speaks to the oil crisis regarding oil companies threatening to pull out of Iraq due to instability issues and contract problems....the issues concerning bankruptcy for Iraq are not new.
Is the process will delete the zeros of the Iraqi currency to stop rigged?!
Here we have a couple of economists that are all over the map it seems in their opinion of the deletion of the 000's.....one says it will not happen until after the elections.....the other says it will be a great tool in boosting confidence in the sovereignty of the country....increasing confidence in the national currency for the local citizen as well as foreign investors, reducing dollarization, and improving trade within the country....he also mentions converting dinar to other currencies and I believe he means "exchanging" the dinar for other currencies as it grows in value. There are many good points for starting this process.
Standard Chartered Expected to Help Kurdistan Connect Internationally
Standard Chartered opened its bank office in Erbil on Monday with expectations of assisting the Kurds in becoming better connected with international banking and helping with international transactions around the world.
Should the Kurds Pull Out of Baghdad Over Budget, Oil Rows?
There is quite a bit of talk around the KRG table about pulling away from Baghdad, but in the end....IMO....I do not believe they will follow through....they have pretty well shown they are not ready to stand on their own feet at this point....pulling away would only further tear Iraq apart. They probably realize at this point they are going to get Maliki for another 4 years....and are wondering how they can put the right people in key positions of the government.....a pull out now would mean lessor representation within Parliament and the COM....this is not what they need, nor what they should want....this is not the time to pull the plug on things....IMO.
Maliki rebel against the parliament and challenged him: Snasrv budget, there is no need for approval
Maliki is suddenly coming down hard on Speaker Najafi for delaying talks on the budget and for manipulating certain laws that affect the Iraqi people.....he is also calling him on the carpet about the lack of candidates for the office of Minister of Defense....he has presented an appeal to the Federal Court based on what he believes has been illegal activity by the House of Representatives.....he also stated that he and the COM have the right under the Constitution to put money into play from the 2014 budget for project work even though the budget has not yet been approved......this will be interesting to follow.
Nnigervan: Maliki will come to us regret all our demands will be implemented
Barzani states that the Kurds can wait until after the election to pursue their 17% of the budget....that Maliki will come to realize that he needs the Kurds if he expects to be reelected and he should realize the importance of alliances.
Wa'ili: exchange (25,000) dinars, compared to the ration card items is dangerous and influential on balancing the province of Dhi Qar
A short but tough article to decipher, coming from the province of Dhi Qar.....sounds like they are struggling to fill ration cards this month from the Ministry of Commerce.....more money flow problems...and this is causing conflict....if they are offering to load 25,000 dinar on the cards....that is not very much purchasing power....very sad situation.
264.6 million dinars, the Iraqi investment in securities in February
February investments in securities exceeded the amount invested at the end of 2013....by about 4 million dinars.
Parliamentary services: the impact of terrorism on the level of service and information on the bankruptcy of Iraq in 2017 is inaccurate
The Chief of the Commission on Services and Reconstruction says that she is supportive of the war on terrorism, but not on or against Iraqi citizens......this is a costly investment they realize....as other countries have spent millions on counter-terrorist activities.....she also calls on the projected bankruptcy of Iraq by 2017 as being inaccurate....calling upon the oil sector of the country will do well to keep them afloat.
Securities warns of recession due to the delay budget
The head of Iraqi Securities is predicting a recession due to the delays of the 2014 budget, saying that it has put a damper on the Iraqi Securities Market already.
80 companies "giant" participates in Project Iraq in Baghdad from March 10 to 12 current
A fair to be held in Baghdad from March 10-12, sounds like it is based on energy and will have 80 companies mostly international companies that will exhibit for citizens to review.
Prime Minister Barzani criticizes Baghdad and US policies
Barzani spoke recently before a conference in Sulaimani, first talking about the issues between the Kurds and the Baghdad federal government, then pouncing upon the current US administration saying they do not rely on ME energy resources any more and that they no longer put any importance on the ME....the current US administration's policies are vastly different than the previous administration.....that says a bunch.
Othman al-Maliki wants to return us to the martial law can not exchange money from the budget without the approval of Parliament
Well it seems since Maliki spoke of his intentions today the flies are hitting the fan now.....speaking out that he does not have the authority to disburse funds without approval from Parliament.....finger pointing....finger pointing.....Maliki said this...Maliki did this....no he can't.....no the Kurds didn't vote in the COM so it wasn't unanimous....well it was for the COM that were present at the time.
Kurdistan denies attending sat tomorrow and confirms the continuation of the boycott until the pay of his employees
More boycotts in Parliament.....I firmly believe it is now time to take firm action against any such boycotts....bring your butts to the table....or suffer consequences in your personal pocketbook....deep ones.
Mr. Sistani refuses to receive a delegation of religious scholars Kurdish negotiator for the budget
A group of religious scholars from the Kurdistan traveled to Najaf to meet with the supreme religious authority Sistani but were turned down for a meeting....instead they met with an agent of his....in hopes of soliciting support in their battles with Baghdad over the budget issues....they did receive support from the cleric stating they would intervene where they could in support of the Kurds.
Parliamentary Finance: Regional Government of the city center with ten billion dollars
An interesting article....it would seem the Finance Committee has found $10 billion dollars that had accrued and should have been paid to the Kurds including payment of salaries to the region....so what will happen to this newfound money....of course the region is demanding payment of its employees and for the central government to stop putting such pressure on the region.
Urgent .. arrest Protection Officer Kamal Saadi caught rigging the Iraqi currency!
Some of these articles grow weary and tired of being regurgitated over and over again. I think this is one of them....I know at least the last two paragraphs have been around the block a couple of times.....and this counterfeit 10,000 dinar note is not new either.....someone needs to get a bit more artistic in their writing....IMO.
Maliki lodge an appeal to the Federal Court to perform the presidency of parliament
Maliki continues to grow tired of the lack of effort of Parliament and specifically the Speaker Nafafi to move on a decision about the budget...Maliki has sent a request to the Federal Court challenging the performance of the Speaker of Parliament Najafi....keep an eye out for more news on this subject.
Vice-Maliki: the differences between Baghdad and Erbil on the way to a solution
Kurdish Vice PM Shaways is visiting the US at the moment and met with a State Dept official stressing the issues between the Kurds and Baghdad....it sounds like the State Dept very conveniently sidestepped these issues pointing towards the violence in Anbar...the upcoming elections....everything but the issues that the Kurds brought to the table to be discussed....shaking my head....what nonsense and lack of support.
Othman: Kurdistan Alliance MPs will attend the next session to discuss Anbar crisis
Make up your minds....just a few hours ago you said you would not attend tomorrows session of Parliament....now you are going....put your marbles on the table and play.....that includes the State Law MP's as well.....and the Coalition United bloc also.
Maliki is waging a violent attack on Najafi says: Parliament has become illegal and Snasrv budget without approval
I am beginning to think that Maliki does not want Najafi to be qualified to run for the Presidency of the Republic as he has indicated an interest in doing.....what better way to prevent that but to assassinate him in Parliament for illegal activities....Maliki was very outspoken in his weekly public address against the efforts of Najafi and is apparently going after him with renewed vigor....making his stance and beliefs very well known.
Decision of the House of Representatives: Read the budget would not be included in Thursday's session
No budget on the agenda for Thursday only discussion will be the Anbar situation.
Start of the Iraqi Council - the U.S. Trade and Investment in Washington to discuss the promotion of economic opportunities
I am really scratching my head on this article....starts out about the Iraqi Council-US Trade and Investment four day conference in Washington this week and then quickly switches to a meeting held last week in Baghdad between the Iraqis and Sri Lankans on trade agreements and bilateral relationships to be developed on goods that will benefit both countries.
(Standard Chartered): Iraq will be the largest oil exporter in the world if it has achieved stability and prevent attacks on infrastructure
Standard Chartered is predicting big things for Iraq in the years to come....with regard to oil of course.....they see revenues of oil equaling $5 trillion dollars by 2035....that is big talk from a big bank about the future....but this of course comes with a caveat...you have to spend money to make money......the International Energy Agency that Iraq needs to spend more than $530 billion dollars on oil related infrastructure projects....this is to get things up to standard that have been allowed to grow antiquated over the past 30 years.
That wraps up the morning news for Wednesday