The Presidency of the Republic announces the sending of the budget to the Ministry of Justice for official publication
The Presidency of the Republic announced on Thursday the sending of the budget law to the Ministry of Justice for publication in the official newspaper Al-Waka.
The state television said in a news bulletin followed by Alsumaria News that “the Office of the Presidency of the Republic sent the budget to the Ministry of Justice for publication in the official newspaper.”
A member of the parliamentary legal committee Salim Shawqi said on Tuesday (March 27, 2018) that the Financial Budget Law for 2018 will be published in the Official Gazette within the next two days, while most of the remarks that came from the President of the Republic on the budget were considered “formality”.
Member of the Parliamentary Law The publication of the budget is expected to be published in the Official Gazette within two days
Justice issued a statement on the publication of the budget law in the Official Gazette
It is noteworthy that the House of Representatives voted, in its session held on Saturday (March 3, 2018) on the federal budget for the current fiscal year boycotting the Kurdish deputies.
The Presidency announced on Tuesday (March 13, 2018) that President Fuad Masoum decided to re-budget the House of Representatives to re-examine the form and content of the constitutional, legal and financial, noting that there are about 31 points in the budget “intersect with the legislation in force.”
Prime Minister Haider al-Abadi said on Tuesday (13 March 2018) that “no one has the right to suspend the general budget of the country after the vote by the House of Representative.
Article Credit: alsumaria.tv
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Enorrste (Dinar Guru) – Mike’s question is well put:
What, exactly are the conditions to begin removing the zeros?
The answer to that question, not surprisingly, is really quite simple. The one condition that is needed is the assurance that the value of the dinar will rise when they move to the international currency market and Article VIII. The problem with discussing “remove the three zeros” is that it is seen as an event…when in fact it is a process, as will be the case in Iraq.
The ONLY way that the three zeros will be eliminated in Iraq is through a gradual rise in the value of the currency… It has been shown conclusively that the RV concept is not tenable because there is too much currency in circulation to effect an RV. The ONLY way to get to our goal is to see the currency move to a float and then see a gradual removal of the large notes as the value of the currency rises. Therefore, “remove the three zeros” can only occur over time with the gradual rise in the value of the currency.
The fact that the most recent articles are stating that the only thing holding the implementation of the project is a “suitable environment” brings us closer to Mike’s question.
What is the “suitable environment?”
This phrase is a little more specific than Mike’s question concerning a “condition” needed. A suitable environment could involve any of a number of factors. We know one of them: security. For well over a year this was what was holding up the implementation of the project. More recently, however, it seems that the security issue is now either solved or secondary. A second issue might be the coming election. After all, if Abadi doesn’t win re-election then the suitable environment will clearly not exist, right? I personally don’t see any other significant factor that would constitute a need for the creation of a suitable environment. A recent article stated that education efforts are once again being implemented to inform the people of what to expect. This has occurred before, as we know, and seems somewhat minor to be a significant factor. There has been ample education and discussion on this matter.
Where economists used to argue entirely against the project, now the arguments are “how” to implement rather that “if” they should implement.
So, in that sense, the environment educationally is already suitable. Therefore I am left with the conclusion that the election is the key. It is a significant factor and could throw a real wrench into the gears if it doesn’t go down with Abadi on top. On the other hand, with a victory, and especially a significant victory, the environment would be suitable for implementation of the plan. Consider it sort of like the Trump election: a lot of promises were made, but only implemented once the election was in his hands. With that accomplished, he ran like a race horse and has, in a little over a year, accomplished 64% of his promises, the best record in history. Is Abadi looking at Trump as a “guru” to help him jump start his second term? Perhaps he is. What better kick off to a new term than to implement “THE PROJECT”?
Read more: http://www.dinarupdates.com/observer/
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Central Bank of Iraq Auctions $179,697,854 on 29 March 2018
Baghdad (IraqiNews.com) The Central Bank of Iraq (CBI) currency auction on March 29 registered $179,697,854 in sales, a 25.69% volume increase from the US $142,965,236 sold by Iraqi Dinar, credit and transfer at the previous auction held on March 28.
The latest auction was attended by 45 banks and 9 remittance companies. The same institutions attended the auction held on March 29 compared to the previous auction.
Data for the March 29 auction was made public by CBI Announcement Number 3666.
Dollar sales in the in the period January 1, 2018 to March 29, 2018 saw an increase of -1% compared to the sales of US $8.91 billion in the same period in 2017. The total amount of US currency sold by CBI in the calendar year 2017 was US $15.7 billion.
An analysis of the monthly dollar sales by CBI since January 2016 reveals highly fluctuating volumes. During the period from January 2016 to February 2018, sales of US dollars averaged US $1.89 billion per month. Peak volumes were reached in May this year when sales touched US $2.3 billion.
Article Credit: http://www.dinarupdates.com/forumdisplay.php?5-Current-Iraq-NEWS
BGG ~ We will continue to highlight the regular auctions.
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International arrest warrants for hundreds of “corrupt” Iraqis, including a former prime minister!!
Twilight News – A new government source revealed on Sunday the completion of arrest warrants against those accused of corruption and waste of Iraqi funds.
“Some 1,000 arrest warrants have been completed against those accused of corruption, including political leaders and a former prime minister,” the source told twilight news. “The memoranda were completed under the supervision of an international investigation team.”
“The current prime minister has not yet decided on whether to accept the implementation of this matter before or after the elections,” the source said, speaking on condition of anonymity.
He said that “there is an international procedure in this regard, especially as investigations in this regard proved the contribution of stolen Iraqi funds to terrorist operations and armed organizations,” according to the source.
The Iraqi Prime Minister Haider Abadi, announced earlier, after the end of the war against Daqash, he will launch a major campaign against corruption, after the activation of the work of international investigators began their duties to this end in the capital Baghdad.
Iraq signed two years ago a memorandum of understanding with the United Nations to involve international investigators in the files of major corruption of priority.
Article Credit: Shafaaq.com (Special Thanks to Tim Tarkington and Charles Bright)
BGG ~ For those concerned this won’t include Maliki… this may not be the case. The language – “a former Prime Minister” was included in the news release.
This could mean Maliki, or it could mean Allawi or “what’s his face…” – Jaafari, I think, who was in the Oil Ministry. He was interim PM for like a year back in the early 2000’s…
It also points out Abadi is considering whether to allow the UN to proceed before the elections or after. I have a suspicion there is pressure being put on him over this. It may well be out of his hands soon.
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Kaperoni (Dinar Guru) – Another low auction day around 1205 to $1 US dollar. My calculations put this at about two and a half weeks now of auctions that are within compliance. If the 90-day rule is true, I would expect the CBI to request article VIII in early June. Could or would the CBI wait before moving to Article VIII? It seems unlikely they would since continuing the auctions at these levels reduces the reserves. And initiating foreign investment is a top priority. One wild card in all of this is the timing of the upcoming new elections that coincidentally are occurring at the same time monetary policy needs to engage with the world financial system.
Read more: http://www.dinarupdates.com/observer/
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tlm724 (Dinar Guru) – Article: “Urgent: The value of the dinar rose to 1197 per dollar” It is great news…! Appears to me that the time is perfect to hold it under the 2%, they got this and we wait about 80 days, give or take, to see if they can maintain this ( I think they can & will). [Whats your thoughts do you think we may see so real action this year like starting the movement soon.] We are seeing action right now, so yes to answer your question, this year looks fabulous to me!
Read more: http://www.dinarupdates.com/observer/
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Iraq’s debt is $ 71 billion
Economy News Baghdad: The Iraqi central bank governor Ali Aliak said on Monday that the Iraqi debt reached 71 billion dollars, stressing that the subject of deleting zeros from the currency is ready but needs a suitable environment for its implementation.
Al-Aalak said in a meeting with the editors of a number of Iraqi media and attended by “Economy News” that “Iraq’s external debt is still within reasonable rates did not reach the red zone,” stressing that “the current Iraqi debt is $ 71 billion, divided into 42 billion An internal debt dollar and $ 29 billion in foreign debt. ”
He added that “some specialists add to the total debt amount of more than 40 billion dollars, which is a Gulf debt since the time of the previous regime and is pending and did not claim these countries,” explaining that “the Gulf countries may be debt cancellation at any time.”
On the other hand, Al-Alaq said that “the subject of deleting zeros from the currency is ready but needs a suitable environment to be applied to prevent manipulation and fraud by the owners of vulnerable souls,” noting that “the Central Bank sent the salaries of employees of the Kurdistan region before solving the problem with the central government and deposited In the branch of Erbil. ”
Read More: economy-news.net (Special Thanks to Tim Tarkington)
BGG ~ We got a couple of very exciting pieces of news yesterday and now this. It has been quite some time since we have seen so much as a reference to the “Deleting of the Zeros” project and then BOOM. There it is. However, a strong word of caution…
In context, this appears to be some kind of budget / reporting / financial meeting with Alak simply mentioning this subject as one of the topics. Be careful when assuming his mere mention of the subject means “an RV is imminent”. He is simply affirming what we have been speculating on all along. It is a subject. They are aware of it… we are aware of it.
The more important thing to note is, his reasoning for it not being done yet. It sounds an awful lot like they are wanting more controls in place and some kind of campaign out there so people don’t get taken advantage of during the transition.
This doesn’t sound like a float?? I’m not taking a side – I’m just commenting on what I see here. In fact, if I had to go by the indicators over the last month or two, I would say I could easily see a scenario where they raise the value gradually over some period of time. Then this comes out. I’m not exactly sure what to make of it. It is most interesting.
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Kaperoni (Dinar Guru) – There is enough evidence from various news articles over the last month to imply the CBI is now in compliance with the IMF. The clock is now ticking. And to boltster my view, the CBI is selling $180+ million at auction per day. It is my view that the CBI will write a letter to the IMF asking for acceptance into Article VIII sometime around June 2018. This also coincides with an article that they want to end the auctions. I could be wrong and they could wait longer but that makes little sense with the continuing auction amount exceeding $180 million each day. 3 reasons, they said they want to end the auctions, the IMF made it clear Article VIII sends a positive messege to investors, and selling $180 million + will drain reserves.
Read more: http://www.dinarupdates.com/observer/
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G-Lin Article: “Urgent: The value of the dinar rose to 1197 per dollar” [If it goes much lower, it will not be very profitable and then why the auctions.] Yep the auctions need to stop. I think when they talk about preventing manipulation and fraud as far as deleting the 0’s, they are referring to the auctions. JMO.
Read more: http://www.dinarupdates.com/observer/
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Parliamentary Energy: The law of the National Oil Company will give a share to every Iraqi citizen
The Iraqi oil and energy committee revealed on Tuesday that the Iraqi National Oil Company (INCOC) will include at least 10 percent of the funds in the first experiment in the country, while one of the funds will give each Iraqi citizen residing within the country a share of that percentage. “The legislation of the law of the Iraqi National Oil Company represents a great achievement for the House of Representatives, which re-established the law of forming the company, which was canceled by personal decisions of the former regime in 1987 after there was a law,” Ali al-Bahadli, chairman of the committee, told a news conference with members of the committee. No. 123 of 1967, where it was merged and subordinated to the Ministry of Oil, “noting that” after 2004 tried to the Ministry of Oil and former Minister Ibrahim Bahr al-Ulum to reactivate the law of the National Oil Company, but those efforts collided with objections from some. ”
Al-Bahadli added that “the law and after the efforts and discussions and workshops lasted for several months has seen the light, where will work to activate investment in refineries and the gas industry and all the goals set for the success of the work of the company can be achieved through several objectives and means in investment and exploration of new structures and activate investment under the mechanisms and scientific foundations And technical, “pointing out that” some understand that the company has powers higher than what some expect, but really draws its work and powers of the Constitution, the arm of the Ministry of Oil, which draws oil policies of the country and the company is working to implement those policies. “…
Read More: http://www.dinarupdates.com/showthread.php?56437-Parliamentary-Energy-The-law-of-the-National-Oil-Company-will-give-a-share-to-every
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Some interesting headlines…
Electronic banking has been launched in Iraq
Abadi: Iraq will become a global economic power
Predictions: Abadi when winning a second term .. will do 5 things
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Iraq to begin Seizing Assets of Saddam Hussein & Cohorts
Iraqi authorities have been given the green light to begin confiscating the assets of late President Saddam Hussein, along with the assets of many of his relatives and thousands of people who were associated with his regime.
Some critics, however, say the process lends itself to corruption and raises questions about the timing of the decision and the value of the assets as well as their future use.
The Iraqi Accountability and Justice Commission on March 5 said it has completed its list of the people whose assets are to be seized: 52 people who were senior officials during Saddam’s regime and 4,257 ex-ministers and officials of his Baath Party.
The list includes deceased relatives, including Saddam’s cousin Ali Hassan al-Majid, known as Chemical Ali, who was hanged in 2010 for gassing 5,000 Kurds in northern Iraq in 1988.
Abdul Rahman al-Louizi, a deputy in Iraq’s parliament, told Al-Monitor the issue can be traced back to the property seizure law crafted by US administrator Paul Bremer, who took over Iraq’s administration after the United States invaded Iraq in 2003.
Louizi said the measure “still has many gaps, most of them relating to specific categories of employment.”
“It includes governors from Saddam’s regime, but it doesn’t include [some] ministers from that time due to the political implications.” He added, “The decision doesn’t address the [chaos] that emerged after the fall of Saddam’s regime.”
He said some people on the list have “redeemed” themselves in recent years by fighting terrorism. For example, Maj. Gen. Ahmad Sadak al-Dulaimi, who died in the fight against the Islamic State, is considered a martyr among many Iraqis.
This was also why Prime Minister Haider al-Abadi criticized the decision March 6.
While Louizi believes “resolving the fate of the former regime’s assets will lead to their use in the interests of society,” progress has been slow, considering 15 years have passed since Hussein was deposed.
Some moves were made previously to take advantage of the wealth of property left by Hussein’s regime. In 2009, his former palace at the historic site of Babylon was transformed into a luxury hotel. His riverside palace in the southern city of Basra, which once served as the headquarters for US and Polish forces, has been turned into a museum.
Suhaila Abbas, a member of the Babylon regional council, told Al-Monitor, “The accountability, justice and real estate services have not resolved much. … Many properties in Babylon and other provinces were turned into the headquarters of powerful parties, but this has yet to be resolved.”
She added, “Most of the palaces occupied by [Hussein] and his family were not registered under his name but under Iraqi ministries. Yet current ministers and officials have refused to leave.”
The claim relates to reports published March 10 of “senior officials refusing to leave Saddam Hussein’s palaces, seized after the US invasion, in the Green Zone and other Baghdad neighborhoods.”
Abbas’ words hint at the potential role of corruption in determining the fate of the assets. On April 16, 2017, a member of the Iraqi Integrity Commission told the media, “The confiscation of former regime symbols opens the door for corruption and enrichment of current parties. Most of those properties are now occupied by political leaders and members of the government and parliament.”
There is growing suspicion around the misuse of property that should be recovered by the state and used to benefit society, according to a Baath Party member in Babylon who did not want to be named. “All the Baath Party headquarters in the central and southern regions were taken over by [political] parties. Others were deliberately not resolved until a significant amount of time had passed. They were then sold for nominal prices to influential groups,” he said.
The commission’s decision was also criticized for allegedly indicting individuals and groups from the Sunni community specifically. A commission media official who asked not to be named told Al-Monitor, “Such accusations fly in the face of fact. The latest decision did not identify a certain group, because it was issued before the Council of Ministers. The Accountability and Justice Commission is an investigatory body that provides the concerned parties with information about individuals, material and procedures relating to confiscation, so the whole process does not target a particular sect.”
Kamal Zaidi, a member of the parliamentary Legal Committee, played down doubts about the confiscation procedures and the fate of the property. Commission members “work with legal advisers to establish regulations and mechanisms relating to the seizure of the former regime’s funds and property and how to deal with them,” he told Al-Monitor.
“The executive institutions today are aware of the legal protocols governing their task. They will act accordingly to resolve the property issue, despite differences between political forces over the fate of assets.” Zaidi added, “The government will begin work on the final decision to resolve the issue of funds and property, inside Iraq and abroad.”
To deal with the controversy surrounding the decision, those who enforce it must make their efforts transparent, especially regarding the charges that many people now occupying the properties are dragging their feet so they can remain there.
Article Credit: iraq-businessnews.com (Special Thanks to Charles Bright)
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Click this link to join the DU “private” FaceBook Group…
https://www.facebook.com/groups/571383766355188/
(go here and ask to join… then add some Dinar Friends!!)
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Post RV Checklist (it’s getting to be that time!! Listen up!!)
Dos and Don’ts of Windfall Wealth:
Treat it like a PowerBall win
– Tell no one, not even family. If you must talk, do so with one who is already in the know.
– Don’t run out & buy new “stuff”. People notice.
– Get an unpublished number and give it out very sparingly.
– Get a tax accountant you can trust to make sure the IRS is satisfied (Certified Opinion is something to look into) and pursue asset protection…
Read Complete List: http://www.dinarupdates.com/showthread.php?18519-The-Post-RV-Checklist-and-Flashback-documents&p=128477#post128477
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