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Tuesday, July 25, 2017

Dinar Updates Q&A w/BGG

Yosef update

KTFA UPDATE, 25 JULY

Frank26 from Mon. Night CC:

Frank26     IMO – the 3 zeros are lifted and the citizens are not using USD’s anymore – and Abadi is in harmony with Allak.

The 95/5  (95 digital/ 5 cash) was masterful!  The IQD is going through a REDOMINATION ...leading to a REVALUATION of their currency because they are going to lift 3 zeros – which will bring in a REDONIMATION as they introduce their LD’s.

Meanwhile...the Rafadian Bank now says that they seek working with retirees outside of Iraq with an electronic card on an international level.

Allak told the citizens to expect a “break thru” – do you think the ATM’s would qualify for that?

Especially if they can’t dispense 3 zero notes?  Soon...the CBI will be coming out to all citizens, all banks to make an announcement...

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Sirenfire:  IMO all of this stuff about the Indonesian Rupiah is designed to take a lot of eyes off of Iraq and for people (currency speculators) to focus on Indonesia.... Very big things are happening in the middle east right now and it will not be long before we see them out in the open...

Walkingstick:   Government supports BI’s proposal to redenominate rupiah

Mon, July 24, 2017

The government has expressed its support of Bank Indonesia’s (BI) proposal to revive plans to redenominate the rupiah, but has yet to decide how many zeroes will be removed from the currency.

“We have not decided yet whether we will scrap three or four zeroes from the rupiah,” said Coordinating Economic Minister Darmin Nasution in Jakarta on Sunday as reported by tempo.co, adding that he preferred to eliminate three zeroes.

“If three zeroes are removed, [the resulting figure] is familiar to many people; if you eat at a restaurant and see 40.00 on the menu, that means the price is Rp 40,000 [US$3],” he explained.

Previously, BI Governor Agus Matowardojo called on the House of Representatives to immediately approve the redenomination bill into law, stressing that it was the best time to eliminate zeroes from the rupiah as Indonesia’s macroeconomic condition was currently favorable.

Darmin said the transition period for redenomination would be one to two years, while the entire process would take six to seven years to give business players enough time to make the necessary adjustments, such as changing their price tags.

“The price adjustment will also be mentioned in the law on redenomination,” he said, adding that during the transition period, new bills would be printed.

However, he stressed that such a move could only be implemented when the inflation rate was between 3 to 4 percent, as otherwise, the value of the rupiah could further weaken. (bbn)

http://www.thejakartapost.com/news/2017/07/24/government-supports-bis-proposal-to-redenominate-rupiah.html

House lawmaker supports rupiah redenomination
http://www.thejakartapost.com/news/2017/07/24/house-lawmaker-supports-rupiah-redenomination.html
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Don961:

Dannair publishes the Federal General Budget Amended Budget Act for the fiscal year 2017

Updated 24/07/2017 2:46 pm

 Baghdad / Dinar / .. The voice of the House of Representatives in its eighth ordinary session of the first legislative term for the fourth legislative year on the amended budget law for 2017.

The following is the text of the law

In the name of the people
Presidency
On the basis of what was approved by the House of Representatives and ratified by the President of the Republic based on the provisions of item (I) of Article (61) and Article (III) of Article (73) of the Constitution

The following law was issued:

No. (2017)
Law amending the Federal Budget Law No. 44 of 2017
Chapter One
Revenue
Article (1): The text of Article (1) of Article (1) of the Law shall be amended to read as follows:

Article 1 -
A- Revenues of the Federal General Budget for the fiscal year 2017 are estimated to be (82,069,669,668) thousand dinars (eighty two trillion nine hundred and sixty six billion six hundred and sixty six hundred and sixty-eight thousand dinars) as shown in table (a) Revenues according to the main accounts) attached to this law.
B - Calculation of the revenues from the export of crude oil based on the average price of (44.4) (forty four dollars and forty cents) per barrel and the export rate of (3750000) barrels per day (three million seven hundred and fifty thousand barrels per day), including (250000) barrels Daily (two hundred and fifty thousand barrels per day) for the quantities of crude oil produced in the province of Kurdistan and (300000) (three hundred thousand barrels per day) for the quantities of crude oil produced through the province of Kirkuk on the basis of the exchange rate (1182) dinars per dollar and all revenues actually achieved Final revenue for the state treasury.
Chapter II
Expenditure and disability

Article (2): Amend the text of the two items (First: Expenses A, B, C, D, E) and (II) Disability A, C, E of Article 2 of this Law, Article 2 / First: Expenses) of this law and delete paragraph (f) of Article (2 / II: Disability) of this law,
To be as follows:
First: Expenditure - The amount of (107,089,521,545) thousand dinars (one hundred and seven trillion and ninety-nine billion five hundred and twenty-one million and five hundred and fifty-five thousand dinars) for the expenses adjusted by the ministries for the fiscal year 2017 and distributed according to field (12) B) Expenditure adjusted by the ministries for the year 2017) attached to this law.
A) The amount of (28,531,686,499) thousand dinars (twenty-eight trillion five hundred and thirty-one billion six hundred and sixty-eight million nine hundred and ninety-nine thousand dinars) for the investment projects expenditures for the fiscal year 2017 distributed according to field (8 / Expenditure adjusted by the ministries for the year 2017) attached to this law.
B) The amount of (78,557,835,046) thousand dinars (eighty-eight trillion, five hundred and fifty-seven billion eight hundred and thirty-five million and forty-six thousand dinars) distributed according to field (4 / adjusted operating expenses) of the table / Law.
C- An amount of (112,906,151) thousand dinars (one hundred and twelve billion nine hundred and six million one hundred and fifty-one thousand dinars) shall be allocated to the contingency reserve within the appropriations of other expenses for the budget of the Federal Ministry of Finance out of the allocations referred to in item (I-B) referred to above And the Council of Ministers to increase the amount mentioned no more than double to cover the expenses of the network of social protection and popular mobilization by half.
(D) An amount of JD (375,000,000) shall be allocated for the reconstruction and development of the projects of the regions and governorates, including the Kurdistan Region, out of the allocations referred to in Article (1 / A) of Article (2).
1- The Governor shall submit the reconstruction plan of the Governorate and the districts and sub-districts approved by the Council of the province, depending on the plans set by the districts and districts to the Federal Ministry of Planning for the purpose of study and approval to take into account the most affected areas within the province and to distribute allocations to maintain districts (15%) (15%) of governorate allocations and 5% (5%) of poverty reduction strategy projects.
2. The Governor shall exclusively implement the approved reconstruction plan and the Governorate Council shall be responsible for monitoring implementation.
G-
1- The amount of (4,733,011,088) thousand dinars (four trillion seven hundred and thirty-three billion and eleven million eight hundred and eighty thousand dinars) shall be allocated to the current expenses and according to Column No. (2) in Table (b).
2- The amount of (1,186,310,379) thousand dinars (trillion, one hundred and sixty-eight billion, three hundred and ten million, three hundred and seventy-nine thousand dinars) of the current expenditures and according to Column No. (3) in Table (B).
3- The amount of (8,792,463,622) thousand dinars (eight trillion seven hundred ninety-two billion four hundred and sixty-three million six hundred and twenty-two thousand dinars) shall be allocated to the investment expenses and according to Column No. (6) in Table (B).
4. The amount of (5,714,795,123) thousand dinars (five trillion seven hundred and fourteen billion seven hundred and ninety-five million one hundred and twenty-three thousand dinars) of the investment expenditure and according to Column No. (7) in Table (b).
II. Disability:
The total deficit planned for the federal budget for the fiscal year 2017 (25,019,851,877) thousand dinars (twenty five trillion and nineteen billion eight hundred and fifty-one million eight hundred and seventy-seven thousand dinars) according to the details shown in the following table:
Amount (thousand dinars)

Vocabulary Revised budget estimates

1 = (A + B) Total revenue 82,069,669,668
Oil revenues: 71,833,095,000
B Non-oil revenues 10,236,574,668
2 = (A + B) Total expenditure 107,089,521,545

A Current expenditure 78,557,835,046

B Total investment expenditure 28,531,686,499
- Investment expenditure from Treasury 24,028,124,659
- Investment expenditure through foreign loans 4,503,561,840
Total planned deficit 25,019,851,877
Finance gap financing (deficit)

A. Accounts balances of ministries and entities not associated with the Ministry of government banks 641,607,059
B The balance of the account of the Ministry of Finance 1,000,000,000
C National Bonds for the public 3,001,673,274
D - Treasury bonds and remittances to government banks and deducting with the Central Bank of Iraq 5,500,000,000
E The World Bank loan to support the budget 1,182,000,000
The IMF loan to support the budget 2,009,400,000
G. JICA loan to support budget 323,000,000

Loans secured by the UK, Canada through the World Bank 413.7 million
I Foreign bonds 2,364,000,000
The EU loan is € 118,200,000
Transfers by commercial banks 3,430,809,704
M Loan ( JBIC) 59,100,000
N World Bank loan / projects 242,310,000
US loan for the purpose of arming 1,043,706,000
The British loan (export loan) is 390,060,000
The Chinese loan is 984,606,000
The German loan ( KFW) is 224,580,000
The Swedish loan is 177,300,000
The IDB loan is 59,100,000
The loan of Italy is 158,388,000
D JICA loan projects / projects 449,301,840
W German loan projects Siemens Inc. 165,480,000
Ø Maintenance project loans for the Ministry of Electricity from the Export Guarantee Corporation 549,630,000
Loan of the French Agency for Development 531,900,000

C- Authorizes the Federal Minister of Finance to borrow or continue to borrow from abroad to finance development projects after the approval of the Council of Ministers from the sources mentioned below and to continue the loans approved in previous years and with the approval of the Council of Representatives.
- JICA loan in the amount of (1500) million dollars (one hundred and five hundred million dollars). Municipalities, Water Resources, Electricity, Industry and Minerals, Health, Communications, Transport and the Ministry of Municipalities, Tourism and Electricity of the Kurdistan Region.
- The Japanese Bank for International Cooperation ( JBIC ) loan in the amount of (500) million dollars (five hundred million dollars) to finance the projects of the Ministry of Electricity, and will be funded (50) million dollars (fifty million dollars) in 2017.
- The Islamic Development Bank loan (800) million dollars (800 million dollars) to finance projects for the Ministries of Electricity, Construction, Housing, Municipalities, Health, Higher Education and Scientific Research and the Municipality of Baghdad. Fifty million dollars (50 million dollars) In 2017, the Ministries of Reconstruction, Housing and Municipalities are allocated electricity.
- The loan of the German Development Bank ( KFW ) in the amount of 500 million Euros (500 million Euros), equivalent to 600 million dollars (six hundred million dollars), of which 190 million dollars (one hundred and ninety million dollars) Terrorism of 2017.
- The Swedish loan in the amount of (500) million dollars (five hundred million dollars) to finance the projects of the Ministry of Electricity by ( ABB ) and the guarantee of ( EKN ) and will fund the amount of (150) million dollars (one hundred and fifty million dollars) for the projects of the ministry.
- Italian loan amounting to (160) million dollars (one hundred and sixty million dollars) will be funded $ (134) million (one hundred and thirty-four million dollars) for the projects of the ministries of water resources and agriculture.
- US $ 4550 million ($ 4.5 billion) to finance the Defense Ministry's needs, and $ 883 million ($ 1.8 million) will be funded in 2017.
- $ 500 million ($ 500 million) to finance projects for the Ministries of Electricity, Construction, Housing, Public Municipalities, Finance, Health and the Municipality of Baghdad. The sum of $ 205 million ($ 250 million) 2017, including $ 10 million ($ 10 million) for the Financial Management Development Project ( PFM ).
- Negotiation and borrowing from the British Export Bank on the financing of infrastructure projects including (water, sewage and desalination) in the amount of (10) billion pounds (ten billion pounds sterling) to be funded $ (100) million (one hundred million dollars) of The above amount during 2017 for desalination projects within the province of Basra and the amount of 230 million dollars (two hundred and thirty million dollars) for the projects of the Ministry of Electricity for GE of the above amount during 2017.
- (500) million dollars (five hundred million US dollars) from the German Export Guarantee Corporation and Standard Chartered Bank for the implementation of the German Siemens project of the Ministry of Electricity will be funded $ 140 million (one hundred and forty million dollars) in 2017.
- Additional loans for the various annual maintenance projects of the Ministry of Electricity guaranteed by international export guarantee institutions in favor of the US GE and the amount of $ 465 million will be financed in 2017.
E. The Federal Minister of Finance, after the approval of the Council of Ministers, is authorized to borrow $ 2,500 million by guaranteeing international export guarantee institutions for the purchase of arms, ammunition and logistical support to the Ministries of Interior and Defense, the Popular Propaganda Authority and the Anti-Terrorist Organization. (Eight hundred and thirty-three million dollars) during 2017.
Chapter III
General and final provisions

Article 3

(4) of the Federal Budget Law No. (44) for the year 2017 to become (the Federal Minister of Finance the authority to conduct transfers between the appropriations of the federal budget of the Republic of Iraq approved in the annual federal budget and the budget modified at the level of doors and sections and classes, materials and types And type sequence.

Article 4 -

Amend the text contained in the provisions of Article (25) of the Federal Budget Law No. 44 of 2017 to become (for the Minister of Finance and Planning federal reallocation of the amounts recovered from farmers for loans agricultural initiative projects received by farmers for the previous years to the budget in 2017 and to be exclusively devoted to projects initiative (1) Section (4) of the Financial Management Law No. (95) for the year 2004).

Article 5-

Continuation of the provisions of the articles contained in the Federal General Budget Law No. (44) of 2017 and the amended articles mentioned in the amended law.

Article 6

The Council of Ministers shall have the authority to transfer the amounts required to cover the requirements of support for the displaced, the popular mobilization and the expenses of the Ministry of Health for the allocations referred to in Article 33 / I / B, as set forth in Table (h) of the Law.
Article 7

- Amend the text of article (39) of the law to be as follows:
To the Federal Minister of Finance with the approval of the Federal Prime Minister issuing guarantees to:
- General Electric Company ($ 563) million ($ 500 million) and the signing of financing loans guaranteed by international export guarantee institutions, including the US Overseas Private Investment Corporation ( OPIC ).
- Korean company STX for $ 125 million (one hundred and twenty-five million dollars) to finance, rehabilitate, maintain and operate the stations of the Ministry of Electricity through Alio Puff Bank.

Article 8 -

Amend the table of transfers contained in Article (59) of the law agencies:
1- The sum of (30) billion dinars (thirty billion dinars) is transferred from the allocations transferred to the House of Representatives to the People's Assembly / operational.
2- The amount of (10) billion dinars (ten billion dinars) of the allocations transferred to the Independent High Electoral Commission to the People's Assembly / operational.
3- The amount of (2) billion dinars (two billion dinars) from the transfers of the accountability and justice to the Ministry of Water Resources / maintenance and rehabilitation of rivers and streams and onions.
4- The amount of (100) billion dinars (one hundred billion dinars) of the allocations transferred to the Independent High Electoral Commission to the Ministry of Health / expenditure governing (medicines, including the Kurdistan region).
5 - The amount of (5) billion dinars (five billion dinars) of the allocations transferred to the Independent High Electoral Commission to the secretariat of Baghdad / reconstruction of Karrada.
6- The amount of (5) billion dinars (five billion dinars) of the allocations transferred to the Ministry of Education to the Ministry of Agriculture / investment.

Article 9

The Ministry of Finance to transfer the grades and financial allocation for those wishing to have university degrees at least from the employees of the Ministry of Defense to ministries and departments other than the three presidencies and the departments associated with them and after the consent of the transfer to the condition that this does not entail any financial consequences.

Article 10 -

This Law shall be published in the Official Gazette and shall be effective as from the date of its publication.

Positive reasons

To fill the shortfall in the salaries of state employees and the public sector and members of the popular mobilization and to ensure the payment of pensions and insurance needs of displaced and to pay the receivables of audited contractors from the Federal Audit Bureau and the entitlements of farmers and the needs of the ministries of electricity, oil and health.

This law was enacted.

http://www.dananernews.com/news?ID=10388

TNT TIDBIT, 25 JULY

CarlosisanGood morning everybody. Question: If the budget is passed and everyone is in agreement, why are we not seeing the RV rates yet and when will it all be released so we can finally go to the bank? Can someone please help me understand what's happening?

Islandgurl:  Carlosisin: That is a Million Dollar Question!

NetGlobal:  Carlos, I dont understand what the supplemental budget has to do with the exchange rate

Carlosisan:  Net - I was under the understanding that once the supplemental budget was passed, we would see the new rates and we would be able to finally exchange.

Readitnow:  Passed and implemented are 2 different things. They can't happen at the same moment

Pearle:  Carlosisin...I think frank was saying something was missing and would be added today
....
Lowken325:  the amendment was was passed but we have yet to see the open budget… now imf and world bank have to stamp it, remember all of the loans

Daz:  WHEN A SATISFACTORY CONDITION AND ALIGNMENT OF ALL THE VARIOUS INTERESTS AND POWER STRUCTURES HAVE REACHED A POINT OF REASONABLE SATISFACTION THAT THEIR INTERESTS AND GOALS ARE MET... THEY WILL JUST AS SIMPLY.... "TURN THE MONEY BACK ON".

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Red : One of the Chinese elders grandmother is having a birthday this month the oldest elder is around 360 years old and grandma is telling him sonny it is time for the evaluation to go forth, so take as rumor until proven correct but it could very well happen in the month of July.

One of my elder statesman's great-great-grandmother went to school with her I believe, might have been one of her cousins anyway they are distantly related

If I get three confirmations from the chief and two elders and the tribe then I will be able to stand firmly upon the information. no backie off. Lol

DollarBill9:  RED nice story hope it's for REAL haha

************

Famous_13 :  So Aug 1 is the back wall date?

Daz : There is no backwall

MNT GOAT UPDATE, 25 JULY

July 25, 2017 Mnt Goat News Brief

Hi Everyone,

I bring you much news today.  

July 22,2017, Source: Radio Sawa, Major General Maan al-Saadi, commander of the second elite forces in the anti-terrorism apparatus in Iraq, described the security situation in Mosul as now completely stable. (Their words not mine!)

He said in an interview with "Radio Sawa" to the continued population of Mosul to return to their homes, which were displaced during the military operations.

He explained that the sectors are conducting security inspections of the neighborhoods that have been liberated, including the Old City.

Major General Saadi played down the importance of the attacks launched by a preacher near Tal Afar and Hawija. He considered the attacks "a natural issue because the enemy is fighting a guerrilla war"
​He pointed to the readiness for the restoration of Hawijah and Tal Afar from the grip of a supporter, and denied any delay in these operations:

Oh -but wait a second! Didn’t Abadi already make his infamous needed speech in the past weeks already and tell us Mosul was “fully” liberated? Yes – he did but we also know that pockets of sleeper cells and small bands of snipers and militia existed. So now they are telling us these too have been cleaned out.

More news….

So as Iraq now moves on to the next phase in its history, once again, as in my last two newsletters, its now all about the economy.  The CBI is not holding back on making the needed changes and adjustments. It is simply amazing how much information the CBI is now publishing and informing the public. It is all very optimistic for us.

But when will they tell the citizens they are going to move to the next phase of the “project to delete the zeros”.  Let’s now lose sight of this in the midst of all this other amazing news. It has been over a year and a half already since they last educated them on the process. Remember in the fall of 2015? Remember all the news about this project. This is what we can expect to happen again. So when will they do this?

They will do this when they are getting ready to execute the next phase. So they are not yet ready to move on it. This is why we have not yet read these articles. Get it? It is that simple. No hype, No rumors, just the FACT that they are not yet ready but we know when they are they must inform the people. In fact the CBI even told us they will, many times. So we sit and wait for this sign. This is now our expectation and major focus.

More news….

Baghdad / Al-Ghad Press:
The Saudi authorities are preparing the international road leading from the Kingdom to Iraq through the border port of Jumaima between the two countries near Rafha province, for the first time since the Iraqi invasion of Kuwait in 1990. (This shows us things are normalizing. This is stability and this is what we need to see)

More news….

I also need to sort out and clarify some other rumors going around.

First let me say that the IMF support for Iraq will not end if Iraq does not RV their currency before August IMF review. How ridiculous to say such a thing? Iraq and the IMF (along with the World Bank and the World Trade Organization and many other three letter agencies) are working very closely with Iraq to position it for the next economic phase. This phase is not something of the distant future. It is now and it is progressing forward. Could it eventually include a significant increase in the value of the dinar? Yes, and will most probably (almost certainly) culminate in some significant increase in the value of the dinar. But let’s not put the cart before the horse. First things first. There is work to be done and we are seeing it play out. It is what we don’t know that we can’t tell you. It is too bold and ignorant for anyone to tell you everything is done. How the hell do they know? Are they mind readers?
​Second, I can assure you the passing of the supplementary Budget for 2017 has absolutely nothing to with the RV. It is not a trigger for the RV. So if you believe this - good luck with that! It is just another one of those self-made rumors/events that was conjured up by these so called intel “gurus” to mean the RV will be triggered as soon as the budget gets passed. We are now way too wise, way too smart to fall for this nonsense anymore. If it was true and there was some evidence for proof, I would be the first to tell you. But the isn’t. Every time there is a pending new budget of some kind these exact same rumors spread.  

I also want to clarify that there is absolutely no proof that the supplementary budget was done to include the new revalued rate thus it has nothing to do with the RV and is not a dependency for pulling the trigger on the RV. Instead the FACT  is the supplementary budget now changes to adjust the prior 2017 budget for less revenues needed to fight the ISIS war that can now be diverted to the reconstruction projects. More $$ coming from sources also are included. Remember Iraq was on a WAR budget and now has to move and adjust to a peacetime budget scenario. This is all it is, so relax! 

Third, there is no evidence or proof to back up the notion that the economic reforms (thus currency reform) must be completed prior to the meeting with the IMF in August and the next payment of the loan under the SDR to Iraq.

So once again a trumped up date of August 1st as a target for completion of the RV.

Forth, the new notes in the form of the lower denominations are NOT yet launched further. So this too is just a rumor without being verified with proof.

More news….

The speaker of the House of Representatives Salim al-Jubouri said on Sunday that the stage after the organization of "Daash" requires joint efforts to activate economic and investment development, while the Undersecretary of the Iranian Foreign Minister Hussein Jabri expressed his country's readiness to cooperate with Iraq in all areas in order to achieve "aspirations.

So now the HOT news is all about the future of the Iraq – Iran relations. This may be all fine but Iraq must insist that Iranian militias withdraw and their military have no part in Iraqi affairs. This is the only acceptable solution for the USA too. Let’s see what more they have to say in today’s news articles below on this topic. Can this relationship work for the economy and the security of Iraq? 

Articles are below. As always, my comments are in italic RED.

Articles Begin
Iraq, Iran sign MoU for military cooperation

(Reuters)
July 23, 2017
DUBAI (Reuters) - Iran and Iraq signed an agreement on Sunday to step up military cooperation and the fight against "terrorism and extremism", Iranian media reported, an accord which is likely to raise concerns in Washington.

Iranian Defense Minister Hossein Dehghan and his Iraqi counterpart Erfan al-Hiyali signed a memorandum of understanding which also covered border security, logistics and training, the official news agency IRNA reported.
(This agreement means sharing of information and intelligence with Iran. Not good for Iraq and is not a safe practice to deal so aligned with Iran. Iran has sinister motives for this action. This will bite Iraq in the future.)

"Extended cooperation and exchange experiences in combating terrorism and extremism, border security, and educational, logistical, technical and military support are among the provisions of this memorandum," IRNA reported after the signing of the accord in Tehran.

Iran-Iraq ties have improved since Iran's long-time enemy Saddam Hussein was overthrown in 2003 and an Iraqi government led by Shi'ite Muslims came to power. Iran is mostly a Shi'ite nation.

US President Donald Trump has voiced concern over what he sees as growing Iranian influence in conflicts in Syria, Yemen and Iraq, where it is aligned with Shi'ite fighters.

Tensions between Iran and the United States have heightened since the election of Trump, who has often accused Tehran of backing militant groups and destabilizing the region.

Earlier this month, Trump said that new threats were emerging from "rogue regimes like North Korea, Iran and Syria and the governments that finance and support them". The US military has accused Iran of stoking violence in Iraq by funding, training and equipping militias. Iran condemns this, blaming the presence of US troops for the violence. (As I said this is going to be a long, difficult situation getting rid of Iranian influence in Iraq post Mosul liberation. Its like trading one terrorist organization for another., But is must be done. Do it now or pay the price later. Can Iraq stand up to another large scale terrorist attack?)


AP News: After Mosul victory, Iraq mulls future of Shiite militias

(An excellent article. It is long but very good information. It is once again emphasizing the need to get rid of the Iranian influence in Iraq. As I told you many times, this was going to be the next issue facing the Iraqi security. Was I correct? Once you have the fox in the hen house helping to protect the hens, what do you do when the need for protection is over. Do you then find a way to go after the hens? After all this is what you wanted in the first place.)

NAJAF, Iraq (AP) — In the wake of victory against the Islamic State group in Mosul, Iraq's political, religious and military leaders are debating the future of the country's powerful Shiite militias — the tens of thousands of men who answered a religious call to arms three years ago and played a critical role in beating back the extremists.

Some are demanding the mostly Iranian-backed forces be disbanded but the militias say their sacrifices on the battlefield and the fact they were sanctioned by Iraqi Prime Minister Haider al-Abadi have earned them a permanent place in the hierarchy of Iraq's security forces. (Can you see the problem here?)

The Shiite militias stepped into a vacuum when the Iraqi army largely dissolved after IS overran Mosul and pushed within 80 miles (130 kilometers) of the Iraqi capital.

Shiite Sheikh Fadil al-Bidayri was among the clerics at an emergency meeting in the holy city of Najaf in June 2014, when Iraq's Shiite religious elite — led by the country's top Shiite cleric, Ayatollah Ali al-Sistani — issued a call to arms as a last-ditch effort to protect Baghdad.

Tens of thousands of men, many of them members of the long-established Shiite militias with close ties to Iran, answered al-Sistani. In the days that followed, Iraq was flooded with training, money and weapons from Tehran. Billboards praising the groups — depicting Iraqi and Iranian paramilitary leaders side by side — popped up across Baghdad, alongside posters of martyrs honoring the fallen.

The government-sanctioned groups became known as the Popular Mobilization Forces, known as Hashed al-Shaabi in Arabic.
Although the Shiite militias did not play a central role in the battle for the city of Mosul itself, they moved into the deserts held by IS west of the city, massing around the town of Tal Afar and taking a border crossing between Iraq and Syria. They also took control of highways bisecting the Sunni heartland in western Iraq and used as vital military and civilian supply lines.

In past fights against IS, including the operation to retake for the cities of Tikrit and Fallujah, the Shiite militias were accused of sectarian killings and other abuses against minority Sunnis. They acknowledge some abuses may have occurred but say those responsible have been disciplined.

Over the past three years, as the military fight against IS in Iraq pushed the extremists back, Iran's influence in the country grew.

"We always knew that Iran would use this (call to arms) to increase its own power in Iraq, but we had no other choice," said al-Bidayri, recounting the meeting in Najaf and the panic-filled days after the 2014 fall of Mosul. Al-Bidayri says now that Mosul has been retaken and the Iraqi military has been partially rebuilt, he believes the Shiite militias should be disbanded, to curb Iranian influence in Iraq and reduce sectarian tensions. The elderly sheikh, like much of Iraq's religious establishment in Najaf, is a staunch nationalist and wary of Iran's growing influence.
 
"From the very beginning ... Iran used every opportunity to get involved in Iraq," al-Bidayri said. "Each time they used the protection of the Shiite people as an excuse."

Iraq's influential Shiite cleric Muqtada al-Sadr also called for the militias to disband during a March anti-government rally that saw thousands of his supporters fill the streets of Baghdad.

According to the 2017 Iraqi budget, the government-sanctioned Popular Mobilization Forces now number about 122,000 fighters. The umbrella is dominated by Shiite militias but also includes Sunni and Christian groups.

"The Hashed (Shiite militias) will remain . and our relationship with Iran will remain," said Hadi al-Amiri, a senior leader of the Badr Brigade, one of Iraq's most powerful Shiite militias.
Al-Amiri said IS' insurgent capabilities will pose a long-term security threat to Iraq after the military fight against the group is concluded.

Iraq's prime minister has also repeatedly professed his backing for the Popular Mobilization Forces, telling reporters at a press conference last week that they "must remain at least for years, as the terrorism threat still exists."

When asked if the Shiite militias would play a role in the fight for Tal Afar or move into Syria, Ahmad Ghanem, a member of the Popular Mobilization Forces training at a camp in Najaf said "we are waiting for instructions ... ready to move wherever they order us."

As the conventional fight against IS winds down, it's unlikely Iraq's existing security forces will be able to absorb all the militia factions.

"If you add up all of the demands from all the different factions and militia leaders, and then you look at how much actual power and money Iraq has to distribute to them, their claims are like 250 percent of whatever pie there is to be divided," said Nathaniel Rabkin, managing editor of Inside Iraqi Politics, a political risk assessment newsletter.

Rabkin said he doubted the groups would be content with patrolling rural areas or hunting so-called IS "sleeper cells." "They want to have real power and control," Rabkin said. "So I think there's going to be a lot of disappointed people with small to medium-sized militias running around Iraq six months to a year from now."

On the outskirts of Najaf, graves of militiamen who died battling IS have swelled among the plots in Wadi al-Salam, the well-known Shiite graveyard that is also the world's largest. Garlands of plastic flowers adorn headstones bearing the crests of the most powerful militia groups: the Badr Brigades, Saraya Salam and Kataib Hezbollah. Abdullah Abbas, a thin 18-year-old from Najaf, guarded a plot of graves of Katib Imam Ali fighters, a small militia closely tied to Iran and active both in Iraq and Syria.

In 2013, he left school at age 14, to become a fighter. The militia at the time mainly fought in Syria where it propped up President Bashar Assad's government. Since then, he has bounced between Syria and Iraq.

Abbas said that if the government decides to dissolve the Shiite militias, he could easily find better paying work as a laborer. But he admitted he couldn't imagine life without the purpose and prestige of being a militia fighter.

"I don't think a normal life is an option for me now," he said, shaking his head. "I can't imagine going back to what it was like before."


Iraq Central Bank Exceeded Expectations Last 2 Years

July 24, 2017

(This is a great article. It is telling us that, like the growing economy and as it changes, so the need for the CBI to grow and change. Not since 2004 have we seen these kind of major changes in the CBI.  The CBI has always had problems staying independent and there were many issues that were still in the grey area, as to their responsibilities. Now these are clarified and put into law. This is all amazing and wonderful to see. This is all for the next phase of growth that Iraq is moving aggressively towards. Take  a look at the list of changes. I also want to remind everyone that others are publishing this article under false heading to make it sound as if the CBI is issuing yet more currency into circulation. This is not true and the article speaks absolutely nothing of this. So this is all very positive news. )

Baghdad / Farah Al-Khafaf as  part of the state's efforts to keep abreast of global economic development, the Council of Ministers and MPs are working on amendments to the Central Bank of Iraq law. This comes at a time when an economist praised the new amendments, which he pointed out that it will be radical and important and will develop the Iraqi money market.

According to a copy of the draft law, "Al-Sabah" obtained a copy of it, the new law aims to:
​1)   increase the capital of the Central Bank of Iraq and
2)   to keep pace with global economic development and
3)   grant powers to the bank and
4)   increase the number of members of the Board of Directors of the bank from outside the bank and
5)   the formation of a committee to audit and
6)   issue commemorative coins and
7)   impose interest on Loans granted by the bank to commercial banks and
8)   the preservation of its funds from bookings issued by judicial decisions. "
The law stipulates that "the capital of the Central Bank of Iraq shall be one trillion dinars fully owned by the State." Reserve management allows the new law that " the Central Bank of Iraq will hold deals on foreign assets and manages the official foreign exchange reserves of the state according to international best practices.

The objectives of monetary policy, as the Board may invest such a reserve in gold located in the Iraqi Central Bank coffers cash, currencies Foreign currency and cash equivalents that are normally used in the performance of international accounts held by the CBI or for its account, credit balances payable on demand or payable after a short period in foreign exchange normally Used in the performance of international accounts maintained by the Central Bank of Iraq in its accounts or those that invest through repurchase agreements, repurchase and fixed deposits for multiple periods.

Full trust in  addition to the special drawing rights available to the Iraq Account of the International Monetary Fund, the status of Iraq's reserve with the International Monetary Fund, as well as any tradable debt securities issued by or fully trustworthy and approved by foreign governments, central banks or international financial institutions, authorities and agencies local and foreign , which are paid in foreign currencies , which are usually used in the performance of international accounts maintained by the Central Bank of Iraq or for his account. " investment portfolio also allows the bill to the bank , " the use of financial derivatives in investment portfolios Of as a tool to hedge, and the issuance of coins commemorative non-negotiable, and that the Central Bank of Iraq chooses the approval of the Minister of Finance , an international company based external audit and financial audit for a period of five (5) years, and may not be repeated selected periods in a row of more than (10) ten years. " (The CBI is agreeing to be independently audited)

Development work and sees economic expert Rahim Shammari told the "morning" that " the legislation of these amendments will contribute to the development of the Bank 's work, allowing greater freedom of the money after the capital increase." (They know the reserves will rise rapidly now that the economy is growing)
 
He pointed out that "these amendments are the second after the issuance of the law of the Bank issued by Order No. (56) for 2004 on the Coalition Provisional Authority (dissolved)," noting that "the Iraqi Central Bank succeeded during the past period in maintaining the exchange rate of the Iraqi dinar, A good thing about Iraq's financial stock.

" New products Shammari expressed "optimism about the next phase, especially with the intention of the bank to develop its work by adopting new products." The governor of the Central Bank Ali al-Alaq had confirmed that Iraq has passed the difficult stage “pessimistic” that has passed during the past two years and accompanied by statements are not based on facts that raised terror in the Iraqi street.

The exchange rate of the bank, which is a "safety valve" for the economy and monetary policy of the country, that the rate of inflation did not exceed 2 percent, while the dinar maintained a stable exchange rate at acceptable limits despite the challenges, in addition to the index raised the interest of global institutions supporting, The Central Bank has raised the IMF's expectations by 10 billion dollars despite the exceptional circumstances that the country is undergoing.

Articles End
 
Their words not mine…..No Rumors, No Hype, Just the FACTS!
 
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Mnt Goat