Category: federal budget

Millionday & People Invested Roundtable Discussion

Millionday Roundtable 8/23/13

    [millionday] here is something i have found

    [millionday] Between a member of the legal committee MP / National Alliance / Hassoun Fatlawi, there is a possibility for the House of Representatives to pass some laws of contention, including the Federal Court and the law of parties.

said Fatlawi in a statement (of the Agency news): There are several Qwaynn not approved because of political differences, which is important laws such as the Federal Court and Walahzab, infrastructure and general amnesty, oil and gas and other,

noting: laws first two can be, unlike law last. pointed out that, the Council of Representatives is now effective and continuous work and recognizes customary laws, either controversial they need to dialogue more for their approval,
…
Read More Link On Right

     [millionday] pointing out that legal upcoming parliamentary elections and the budget for fiscal year 2014, was sentenced to Council approval.

noted that the remaining life of the House of Representatives, less than a year, because it ends legislative term first-year legislative fourth and final in October next, and the cycle ends the second legislative before the month of April next year, with a cumulative number of laws on Almlges shelves because of political differences

    [millionday] they need to continue working that is for sure so glad to see they are brb with more trust me they dont tell us everything  here is a prime example

    [millionday] Agency publishes all of Iraq [where] the record of the case submitted by Prime Minister Nuri al-Maliki to the Federal Supreme Court on House Speaker Osama Najafi about the enactment of the mandate of the three presidencies.

The House of Representatives has voted its session on January 26 last validation and a majority of 170 MPs on the Law of the mandate of the three presidencies amid opposition members of the State of Law coalition led by al-Maliki to vote, Adin him without legal and constitutional. Maliki’s coalition announced an appeal to the Federal Court to overturn the law after being published in the official

    [millionday] According to the Minutes Report of a case by appearing entrusted Maliki general and two Agency Head of the Legal Department of the General Secretariat of the Council of Minister Abbas al-Saadi and his assistant Alaa al-Amiri addressed to the President of the Federal Court: Prosecutor: Prime Minister Nuri al-Maliki in addition to his job and the defendant’s Parliament Speaker Osama Najafi, in addition to his job.

The point of the lawsuit: the view of the defendant [Najafi] enactment of a law determining the duration of the mandate of the President of the Republic and President of the House of Representatives and the President of the Council of Ministers and what was that law has been initiated without the submission of the Council of Ministers, or presented to the government and this is contrary to the provisions of the Iraqi constitution [2005] and settled it elimination of constitutional governance in Iraq ask unconstitutionality for several reasons, including:

    [millionday] . Acknowledged the Iraqi constitution a parliamentary system based on the principle of division of powers under article [80] from The Council of Ministers the authority to provide the bills under the constitutional jurisdiction and the Federal Court in addition to what indicated to him a message the president [Jalal Talabani] addressed to the House of Representatives must view the proposed laws to the Council of Ministers For graduated Rules projects

because the House of Representatives to possess the authority to make laws and projects must be submitted to the executive branch before the vote, and approval on this, all the laws that have not adopted the constitutional context is unconstitutional and not binding on the executive power.

    [millionday] note — as we see — the federal court system is working fine

    momface] But malikis bloc is trying to appeal it?

    [snowflake59] I am losing my warm and fuzzy feeling with this, I feel like we are never going to see this. So discouraged right now. I really felt like the lifting of the sanctions would have helped to bring this thing forward. Millionday I appreciate what you are doing for us, I at least have not lost my hope that this will happen.

    [millionday] this has nothing to do with that hun  – snowflake59 thank you hun — it is right around the corner — this is the minutes from the federal system — my point is — if it isnt in place yet how can i have the minutes   smile

    [snowflake59] Good point

    momface] Its in place..but maliki is trying to overturn it…right?

    [simbaspen*] I like that Million

    [millionday] momface no — they are looking at the constitution with what is in place and they will do that until the end of time

    [baggr42] I guess I do not get it regarding the Fed System what is that

    [millionday] but — they are in place and working  or i would not have this rare piece of info

    [baggr42] Fed Council ?

    [dlherm] so….realistically, what are we waiting on? why don’t they just do it already?

    [millionday] the federal court system monitors the gov and all constitutional matters and anything else effecting the federal system and nation as a whole  — yes federal council

    [baggr42] ty

    [millionday] sitting right there wearing ties smile

    [momface] OK….than what is Maliki trying to accomplish?

    [millionday] my point is that shabibi said that we would not know — it would just happen but i am working as hard and so is the whole site along with some members as well to find as many clues as we can

    [baggr42] Any truth to the rumors that M and family are on the run?

    [m10000] millionday millionday we know that and appreciate it!

    [millionday] so have patience —– trust that they have signed many many conventions which are trade relations ect and activated many contracts we should see go forward in days to come

    [millionday] we would have some problems too if terrorists were on our streets killing as many people as they can — national emergency but they are trying to get the world to help with some security as we speak

    [millionday] know that if they report that the federal council is not in place and i can bring you minutes from their meetings — they are not telling us everything

    [millionday] so we arent being reported it all even though some of us can find many things anyway   — let me tell you all something interesting that you may have seen too  – did you see that alzajeera is now joined to the US of A news as well?

    [dlherm] yes

    [Smokey Mtn. Dinar] yes

    [Melba] yep

    [Smokey Mtn. Dinar] Kind Of scary too!

    [dlherm] It was reported in our local paper here in victoria

    [millionday] isnt that interesting that we are expecting the stocks to join ect and then we see something from iraq here   very interesting to me

    [dlherm] millionday In what way exactly?

    [Smokey Mtn. Dinar] Think Iraq had anything to do with the stock market going haywire yesterday?

    [dlherm] Smokey Mtn. Dinar this mornings paper reported it as a technical glitch!!

    [Smokey Mtn. Dinar] Yes, I heard that on the news yesterday evening. But it still makes you go Hmmmm

    [tiger_ag] techncal glitch, Hindenberg Omen, temporary shut down…..etc etc if you a dinar theorist though, yes it has everything to do with rv lol

    [Smokey Mtn. Dinar] tiger_ag As The Dinar Turns lol

    [millionday] has to be some thing about the media stocks — they gain by advertisement hours so they would have had to join due to the name being trademarked but i dont know anything more about it

    [baggr42] tiger_ag Now that is a true Dinarian speaking

    [dlherm] tiger_ag but if you are a dinar theorist, you have a very narrow view of the world!

    [millionday] will have to look — thought it was interesting

    [Melba] 3 hours is a big glitch

    [millionday] i have some thing on it it is very long but the point was this hackers

    [dlherm] oh!  Of course!

    [Smokey Mtn. Dinar] WOW

    [millionday] thats what i said hun wow

    [baggr42] Hackers in my 401k …. Oh may there goes the family farm

    [Smokey Mtn. Dinar] We really shouldn’t be surprised though

    [schmidtberger] millionday …aljazeera tv used to be current tv…al gore sold it to them…

    millionday] i will find if there is another deal that happened with it to be seeing it again hun brb

    millionday] F preacher accused close to the Sadrist lawmakers who endorsed the agreement between Iraq and Kuwait to regulate maritime shipping between the two sides as “traitors” to the people and their rights.

The House of Representatives approved on Thursday a majority of the Convention on the organization of navigation in the Khawr Abd Allah border with Kuwait amid objections of some political forces, which accused the parliament to sell the borders of Iraq to Kuwait.

Khatib said Friday prayers in a five-mile area in Basra, Sheikh Nizar al-Tamimi “of Voice over the traitor and Convention and thief for the Iraqi people and their rights.”

Tamimi said in a sermon which was attended by the correspondent of “Twilight News” that “the members of the rule of law are the majority in the vote on this law and, unfortunately, we were surprised by this matter.”

The government led by Prime Minister Nuri al-Maliki, who is also the leader of a coalition of state law, has signed agreements with Kuwait regarding pending issues for a long time of which related to the demarcation of the border and maritime regulation and compensation and other invasion.

    millionday] These adjustments are paid by the UN Security Council to vote in favor of removing Iraq from Chapter VII, which imposed the beginning of the nineties of the last century after the regime of Saddam Hussein’s invasion of Kuwait.

However, the adjustments drew criticism from some parties pointed to the Iraqi Baghdad waiver of their rights in the territory and territorial waters in favor of Kuwait.

Tamimi said that “the Sadrist bloc, and some members of Parliament in the other blocs did not vote on this matter and we salute all who did not vote on this matter and this is the fulfillment of the Iraqi people.”

Opponents to the agreement regulating marine navigation point out that the agreement tightens the noose on the Iraqi ports on the Arabian Gulf in the south of the country which is the only sea port of Iraq.

    [millionday] so people are complaining but its done  enough voted on it and put it through  guess they should go to work if they dont like how it goes when they arent there  smile

    [millionday] this is the whole point >>>>>>>>>>>>>>The House of Representatives approved on Thursday a majority of the Convention on the organization of navigation in the Khawr Abd Allah border with Kuwait amid objections of some political forces,

    [millionday] welcome to democracy !! smile   maliki is signing agreements with the india leaders  so that is all over the news

    [mydinar100] millionday what kind of money do the MPs make for being MPs and who pays them?

    [millionday] bombings and more bombings they are complaining they cant get anything done in parliament

    [bluedog2] millionday bombed the northern pipeline … again …

    [millionday] its out of the federal budget yes and they are trying to route it another way on that side

    [NUMBERS] millionday how can they be signing agreements and contracts with other countries.. And not have a internationally recognized currency with some kind of value??

    [millionday] because they have a date to come and an agreement to do with the upcoming

    [sunnyca] millionday Didn’t you say that the first thing on the agenda was the economic reform?

    [millionday] the largest and they have not reported it at all

    [bluedog2] more on money laundering if you want it…

    [millionday] maybe we will have something on it tonight  – i know the television there is very encouraging and they cant just keep saying all is going to be great and not doing anything

    [sunnyca] millionday for sure

    [Ronman] US Troops back in Iraq

    [Heidi] upcoming federal budget/??largest??

    [millionday] the largest issue on the agenda is the economic reform

    [millionday] Raised the Presidency of the Council of Representatives, on Thursday, the 14th meeting of the Council to the next Monday, after a verbal altercation between the members of the list are united and a coalition of state law.

A parliamentary source said in an interview for “Alsumaria News”, “The Presidency of the Council of Representatives, decided to adjourn the meeting of the 14 of the first legislative term of the legislative year the fourth, to next Monday (26 August 2013), because of an altercation between the MP from the list are united Ahmed electrodes, Deputies for the coalition of state law, Hanan al and on Alfalh “.

The source, who requested anonymity, that “the cause of quarrel is charging electrodes of the government and the security forces the issue of smuggling of prisoners of Abu Ghraib and Taji.”

    [millionday] and yes the largest they have had as well  — Ronman yes they are trying to calm the attacks and also protect the citizens  i believe there are more then just us there as well

    millionday] i think it is annoying that they have not moved forward when they are ready past annoying really  i think they are having security issues that are more then we have ever seen  – bombings every time they open their doors and they are not safe

    [dlherm] millionday annoying is a bit of an understatement don’t you think? But I know you are not one to use really strong language!! smile

    [millionday] not safe to do business and not safe to walk down the street — dlherm a bit? probably the largest ever  smile

    [baggr42] millionday In your opinion Is 2013 a reality or does it look like we may a bit of a wait.

    [millionday] yes it is a reality according to what they have decided to do

    [tbob] millionday Isnt something coming the 30th and 31st that you would think would require international currency and new value?

    [millionday] tbob i would think

    baggr42] It just seems odd that large financial organizations would appear if it was not close in the works

    [wilbur48] yes it is,, did you see the imf report july

    [millionday] baggr42 exactly — they are not going to be signing anything but mou`s imo

    [millionday] wilbur48 yes i believe the second step is the currency and the first is the federal economic reform law

    [wilbur48] they working as fast as they can,, but it takes time to build a country

    [millionday] wilbur48 i agree  they are going pretty quick  — so lets just meet back tonight at 730 — not a lot out there that we care about or need to know actually  smile

Article 140 Committee demand for 150 billion dinars

Shafaq News / The Parliamentary Committee on Article 140 confirmed its commitment to its request to add 150 billion dinars to the budget of the governmental Committee to complete the compensation file.

Article 140 committee distributed last May amount of 170 billion dinars over eight offices in Iraq, five of them in the southern provinces.

“The parliament voted in the general budget to give extra 150 billion dinars to Article 140 committee from the financial abundance achieved for the purpose of carrying out its work, “adding that his committee demands the competent authorities to provide the amount of the governmental Committee,” The Chairman of the Committee, Mohsen al-Sadoun told “Shafaq News”.

“We are sure that the sale of oil will provide financial abundance, so we demand to add the abundance amounts accruing to the financial allocations of the governmental Committee according to the draft of the federal budget for 2013,” Sadoun added.

The Iraqi Constitution, ratified in 2005 of Article 140, which stipulates the normalization of the situation in the disputed areas in other provinces, such as Nineveh and Diyala, as set a time limit that ended on the 31st of December of 2007 to implement all of the procedures included in the mentioned article of, as it gave the people of these areas the freedom of self-determination to stay as independent administrative unit or join Kurdistan Region through organizing a referendum.

LINK

 

Oil Production Fall Could Create Budget Deficit

8-2-13 Iraq Business News:   Iraqi parliament Oil & Energy Committee member, MP Suzan al-Sa’ad, recently stressed that the country’s decline in crude oil production during 2013 will lead to major deficit in the federal budget of 2014.

According to a report by the Oil Ministry, Iraq oil exports decreased at average of seven million barrels in June, following the sabotage of the northern pipeline and the bad weather.

The spokesperson of the Oil Ministry, Asim Jihad said some days ago that the oil exports for past June decreased to 69,800,000 barrel, at average of 2,326,000 barrel a day, while the oil exports reached in past May 76,900,000 barrel per day.

LINK

 

Finance Committee Member: 2014 budget to arrive early this year for house decision (September)

I expected a member of the parliamentary Finance Committee, on Monday, the arrival of the draft federal budget for the year 2014 at an early date, compared to previous years, demanding the participation of the House of Representatives in their preparation.

As Kurds Grow Stronger, Oil Pulls at Iraq’s Continued Unity

by Armando Cordoba

Kurdistan Region—The Baghdad-Erbil oil tussle may be the biggest deterrent to Iraq remaining unified, as the autonomous northern Kurds strengthens its hold over its own oil resources, and the Shiite central government struggles to dictate policy. For years now the autonomous Kurdistan Regional Government (KRG) and Iraq’s Shiite-led central government in Baghdad, have been continually butting heads over control of the vast northern oil resources, which experts rank as the world’s fifth-largest.

And as with anything involving oil – Iraq’s black gold –the continued issue of money is creating palpable tension between the two governments.  Despite supposed progress and visits between the two governments to resolve the major oil disputes, each still stands at opposite ends of a “black divide.” Much of the conflict over the oil issue is from different interpretations of the Iraqi Constitution, which was drawn up on May 2005, following the toppling of Saddam Hussein in the 2003 US-led military invasion.

The goal of the constitution was to create a delicate and legitimate legal balance among the Shiites, Sunnis, Kurds and the Iraqi government in the newly democratic Iraq. Oil revenues were loosely laid out in a series of articles within the 33-page constitution. “Oil and gas are owned by the people of Iraq in all regions and governorates,” according to Article 111 of the Iraqi Constitution. “All powers not stipulated in the exclusive powers of the federal government belong to the authorities of the regions governorates,” according to Article 115. Kurds believe this gives them the constitutional right to manage their own oil contracts and exports through the Taq Taq-Khurmala-Fish Khabur gas pipeline into Turkey, set to be complete this year.

The pipeline will open the door to Europe and the world, without having to pass through the central government. But Baghdad opposes the “reading of the legal framework,” and believes it has authority to sell Iraqi resources abroad, according to a report by The Oil and Gas Year on the Kurdistan region for 2013. It is important to note that there is no legal law distinguishing exclusive power to the central government for oil and gas. “We want our fair share of the wealth of Iraq, and that is why we are fighting for the unity of Iraq,” Asthi Hawrami, Kurdistan Regional Government’s minister of natural resources, said in an interview in the report. But the KRG has shown conflicting points of view to its supposed urge for a unified country.

For the first time in nearly five years, the KRG took the step to ship about 30,000 tons of crude oil to ports on Turkey’s Mediterranean coast in July 2012, showing a continued defiance to Baghdad’s claims.  But many in the Kurdish region feel it is necessary for Kurdistan to begin to defy Baghdad because of its constant failures to follow the Iraqi Constitution.

Baghdad refused to pay $3.5 billion to the KRG for exports that passed through Baghdad-controlled pipelines since 2011, despite an agreement between the central government and the KRG in 2012. Baghdad also cut the KRG’s federal budget and expanded its own in order to pay for other needs “such as the military, which is deducted from the federal budget before the Kurdistan Region is paid its constitutionally mandated 17 percent, effectively shrinking the amount KRG, receives,” the report said. Much of the reduction was cited by Kurdish officials as a way to hit back by the central government for the continued defiance of the KRG in granting oil contracts outside of Baghdad’s control. Kurdistan was only given $537 million to pass onto contractors for the export of oil, despite Kurdistan asking for $3.5 billion, according to the report.

Further complicating the divide between Baghdad and Kurdistan, is a recently passed law by the Kurdish Parliament titled Law No. 5, The Law of Identifying and Obtaining Financial Dues to the Kurdistan Region of Iraq from Federal Revenue.  The KRG hopes to gather billions owed to the Kurdish region by retaining profits made from the exportation of oil. But it will only do so if Baghdad continues to default on the payments Kurdish officials claim the region has been owed since 2003. The KRG states the central government owes at least $20 billion to Kurdistan: $6 billion would go to the Peshmarga, $4 billion would go to oil contractors and the rest would go to victims of Saddam’s genocide against the Kurds.

“The law sets out a pathway to implement Iraq’s Constitution.” Ashti Hawrami, KRG’s minister of natural resources, said at an oil conference in June in London. “We would prefer to work with the federal government in Baghdad, but we must also recognize that if one part of the country is dysfunctional it should not be a drag on the successful areas of the country,” Hawrami said in the report.

Kurdistan also has ignored Baghdad’s warnings against the completion of the Taq Taq-Khurmala-Fish Khabur pipeline, slated for completion by September of this year. The pipeline will allow Kurdistan to ship crude oil from the region into Turkey and could completely change the game of energy power in Iraq, according to an article from Reuters. An official report from the KRG Ministry of Natural Resources said the enclave hopes to produce at least one million barrels of oil per day by 2015.

The oil rich province of Kirkuk is also playing a major role in the “black divide”. In Article 140 of the Iraqi Constitution Kirkuk and other territories Arabized by Saddam’s Baathist regime, are supposed to be returned to Kurds. It comprises of three parts, and was supposed to be fully implemented by 2007. Only one part of the article has been completed, and recently Maliki expressed his intent to move onto the second cycle of de-Arabization of disputed territories, making the mandate delayed by five years.

Kirkuk produces about 260,000 bpd, according to the Middle East Economic Survey. It is one of the major oil producers for Iraq, which may be behind Baghdad’s reluctance to relinquish the territory to Kurdistan, as the northern enclave continues to grow in power and defy the central government.  The pipeline near the city also connects to pipelines that run into Basra, Baghdad and other major cities in Iraq. It also connects to the city of Bayji, which is the central point to run to Fish Khabur and into Ceyhan in Turkey.

In 2012 the KRG sent Peshmarga forces to the city to fill security vacuums after a string of explosions and attacks, which Baghdad labeled as a tactic by the KRG to seize the land and resources of the area. Even though Kurdistan may not like to admit it, it is still dependent on the Kirkuk-Ceyhan pipeline to send its shipments into Turkey’s Mediterranean Coast as a reliable route to transport Kurdish oil.

Link

As Kurds Grow Stronger, Oil Pulls at Iraq’s Continued Unity

ERBIL, Kurdistan Region—The Baghdad-Erbil oil tussle may be the biggest deterrent to Iraq remaining unified, as the autonomous northern Kurds strengthens its hold over its own oil resources, and the Shiite central government struggles to dictate policy.

For years now the autonomous Kurdistan Regional Government (KRG) and Iraq’s Shiite-led central government in Baghdad, have been continually butting heads over control of the vast northern oil resources, which experts rank as the world’s fifth-largest.

And as with anything involving oil – Iraq’s black gold –the continued issue of money is creating palpable tension between the two governments. Despite supposed progress and visits between the two governments to resolve the major oil disputes, each still stands at opposite ends of a “black divide.”

Much of the conflict over the oil issue is from different interpretations of the Iraqi Constitution, which was drawn up on May 2005, following the toppling of Saddam Hussein in the 2003 US-led military invasion.

The goal of the constitution was to create a delicate and legitimate legal balance among the Shiites, Sunnis, Kurds and the Iraqi government in the newly democratic Iraq. Oil revenues were loosely laid out in a series of articles within the 33-page constitution.

“Oil and gas are owned by the people of Iraq in all regions and governorates,” according to Article 111 of the Iraqi Constitution.

“All powers not stipulated in the exclusive powers of the federal government belong to the authorities of the regions governorates,” according to Article 115.

Kurds believe this gives them the constitutional right to manage their own oil contracts and exports through the Taq Taq-Khurmala-Fish Khabur gas pipeline into Turkey, set to be complete this year.

The pipeline will open the door to Europe and the world, without having to pass through the central government.

But Baghdad opposes the “reading of the legal framework,” and believes it has authority to sell Iraqi resources abroad, according to a report by The Oil and Gas Year on the Kurdistan region for 2013.

It is important to note that there is no legal law distinguishing exclusive power to the central government for oil and gas.

“We want our fair share of the wealth of Iraq, and that is why we are fighting for the unity of Iraq,” Asthi Hawrami, Kurdistan Regional Government’s minister of natural resources, said in an interview in the report.

But the KRG has shown conflicting points of view to its supposed urge for a unified country.

For the first time in nearly five years, the KRG took the step to ship about 30,000 tons of crude oil to ports on Turkey’s Mediterranean coast in July 2012, showing a continued defiance to Baghdad’s claims.

But many in the Kurdish region feel it is necessary for Kurdistan to begin to defy Baghdad because of its constant failures to follow the Iraqi Constitution.

Baghdad refused to pay $3.5 billion to the KRG for exports that passed through Baghdad-controlled pipelines since 2011, despite an agreement between the central government and the KRG in 2012.

Baghdad also cut the KRG’s federal budget and expanded its own in order to pay for other needs “such as the military, which is deducted from the federal budget before the Kurdistan Region is paid its constitutionally mandated 17 percent, effectively shrinking the amount KRG, receives,” the report said.

Much of the reduction was cited by Kurdish officials as a way to hit back by the central government for the continued defiance of the KRG in granting oil contracts outside of Baghdad’s control.

Kurdistan was only given $537 million to pass onto contractors for the export of oil, despite Kurdistan asking for $3.5 billion, according to the report.

Further complicating the divide between Baghdad and Kurdistan, is a recently passed law by the Kurdish Parliament titled Law No. 5, The Law of Identifying and Obtaining Financial Dues to the Kurdistan Region of Iraq from Federal Revenue.

The KRG hopes to gather billions owed to the Kurdish region by retaining profits made from the exportation of oil. But it will only do so if Baghdad continues to default on the payments Kurdish officials claim the region has been owed since 2003.

The KRG states the central government owes at least $20 billion to Kurdistan: $6 billion would go to the Peshmarga, $4 billion would go to oil contractors and the rest would go to victims of Saddam’s genocide against the Kurds.

“The law sets out a pathway to implement Iraq’s Constitution.” Ashti Hawrami, KRG’s minister of natural resources, said at an oil conference in June in London.

“We would prefer to work with the federal government in Baghdad, but we must also recognize that if one part of the country is dysfunctional it should not be a drag on the successful areas of the country,” Hawrami said in the report.

Kurdistan also has ignored Baghdad’s warnings against the completion of the Taq Taq-Khurmala-Fish Khabur pipeline, slated for completion by September of this year.

The pipeline will allow Kurdistan to ship crude oil from the region into Turkey and could completely change the game of energy power in Iraq, according to an article from Reuters.

An official report from the KRG Ministry of Natural Resources said the enclave hopes to produce at least one million barrels of oil per day by 2015.

The oil rich province of Kirkuk is also playing a major role in the “black divide”.

In Article 140 of the Iraqi Constitution Kirkuk and other territories Arabized by Saddam’s Baathist regime, are supposed to be returned to Kurds.

It comprises of three parts, and was supposed to be fully implemented by 2007. Only one part of the article has been completed, and recently Maliki expressed his intent to move onto the second cycle of de-Arabization of disputed territories, making the mandate delayed by five years.

Kirkuk produces about 260,000 bpd, according to the Middle East Economic Survey.

It is one of the major oil producers for Iraq, which may be behind Baghdad’s reluctance to relinquish the territory to Kurdistan, as the northern enclave continues to grow in power and defy the central government.

The pipeline near the city also connects to pipelines that run into Basra, Baghdad and other major cities in Iraq. It also connects to the city of Bayji, which is the central point to run to Fish Khabur and into Ceyhan in Turkey.

In 2012 the KRG sent Peshmarga forces to the city to fill security vacuums after a string of explosions and attacks, which Baghdad labeled as a tactic by the KRG to seize the land and resources of the area.

Even though Kurdistan may not like to admit it, it is still dependent on the Kirkuk-Ceyhan pipeline to send its shipments into Turkey’s Mediterranean Coast as a reliable route to transport Kurdish oil.

LINK

 

Planning: the inclusion of indicators of poverty and deprivation to the budget of 2014

BAGHDAD / Haidar al-Tamimi

Approached the Ministry of Planning and Development Cooperation of putting the finishing touches to a comprehensive report showing the indicators of poverty and deprivation in the map across the country, revealing that the report will be adopted in the preparation of the budget in 2014.

The preparation of the detailed report on indicators of poverty and deprivation map after the parliamentary Finance Committee draws the adoption of a new mechanism for the distribution of the next budget resources to the provinces, depending on poverty and المحرمية indicators. He said the ministry spokesman Abdul Zahra al-Hindawi said that “the Ministry of Planning in the process of putting the final touches on a comprehensive report to the indicators of poverty and deprivation in the map of Iraq for the current year,” noting that “the report, which called soon depends on accurate indicators.”

Hindawi said that “the results of the report will be taken into consideration in the preparation of the general budget of the Iraqi state in 2014, in addition to time adoption of the strategy to reduce poverty in Iraq.” The Finance Committee revealed last January start preparing a mechanism supported in advanced countries of the world to ensure the distribution of the federal budget in a fair depending on the proportions of population and Mahromep.

LINK

 

A Change For The Iraqi Economy By Joseph Cafariello

Dinar and Chapter 7    Wednesday, July 10th, 2013  Wealth Daily

A Change for the Iraqi Economy    By Joseph Cafariello

A new chapter has begun for the once again completely sovereign nation of Iraq, as it was reclassified from Chapter 7 to Chapter 6 of the United Nation’s charter. In effect, it is like someone being released from prison. All of his confiscated possessions will be returned to him, and he will once again have full control of his finances.

This could deliver a huge boost to the value of Iraq’s currency, the dinar, with the return of billions of dollars worth of assets frozen shortly after its 1990 invasion of neighbor Kuwait.

But Iraq’s release from political prison also opens it up to suits and claims of reparation against it. Out from under Chapter 7 restrictions, how will Iraq manage its affairs now? And what will this mean for its dinar?
…
Read More Link On Right

A New Chapter

While Chapter 7 authorizes the UN to impose sanctions or use military force against a country that steps out of line, Chapter 6 allows a nation to handle disputes with other countries on its own through peaceful negotiation.

“Iraq can now have normal relations and sign all sorts of treaties with other countries of the world,” Labeed Abbawy, Iraq’s former deputy foreign minister, expressed his relief to the Kurdistan paper Rudaw. “We were not getting invitations from the international conferences and some countries would even deny visas to our Iraqi diplomats.”

Only two issues still remain under Chapter 7: a ban on certain arms and the completion of reparation payments to Kuwait, with $11 billion outstanding of the original $52 billion owed.

All other sanctions and restrictions have been lifted. Iraq can rebuild its military. It can be party to political and trade treaties. It will control its oil revenues as its own government determines. It will even see the return of some $82 billion worth of frozen assets held in foreign banks since its invasion of Kuwait in 1990.

“The lifting of Chapter 7 against Iraq will enable it to regain independence in its oil policy, and Iraq again can become an important regional and international energy player,” Dr. Rebawar Khinsi boasted his optimism to Rudaw.

Good times are indeed in Iraq’s future, which should bode well for the dinar. But there are still a number of obstacles to clear out of the way.

Stability Issues

For the time being, the country is still being closely watched, like a released ex-convict under probation.

“Iraq will remain under observation and it has to respect the role of the United Nations Assistance Mission for Iraq (UNAMI),” Dindar Zebari, special representative of the Kurdistan Regional Government (KRG) in the UN clarified to Rudaw. “Iraq is still not a stable country so the UN delegation will keep its presence there.”

Threatening Iraq’s stability are a number of unresolved issues from its past. Rudaw reports that “minorities have been especially concerned, apprehensive that the Iraqi government – without a leash – could turn into yet another threat.”

Haydar Mulla, an al-Iraqiya MP, although supportive of the chapter change, acknowledges “there are fears that lifting the restrictions will free the hands of the Iraqi government against the minorities.”

Besides continued tensions among Iraq’s disunited population, there are also a number of reparation claims to be settled after Saddam Hussein’s dictatorial rampage. As Amir Hassan Fayaz, head of the political science department at Nahrein College, expressed to Rudaw, “Iraq will become a normal country again and will be dealt with as a sovereign state. Now all the countries that Iraq is indebted to can ask for payment.”

The ex-convict is now going to be confronted by all the people he robbed and cheated, and there is no longer any Chapter 7 to protect him. The dinar can’t pull its flying carpet trick just yet.

Effect on the Dinar

What the changing of the chapters does for Iraq is lift a multitude of restrictions. But the nation still needs to grow into those expanded boundaries. Just because you move a plant from a small pot to a large pot does not mean it will grow instantly.

There are three main economic benefits delivered by Chapter 6: a) the return of frozen assets; b) debt forgiveness; and c) full control of revenues. While the first two will have an immediate affect on the nation’s financial circumstances, the third will take years to bear results.

    First, there is the return of $82 billion in frozen assets. Indeed, this will have an immediate effect on Iraq’s balance sheet as soon as the funds are returned. Unfortunately, it will have a very small impact on the nation’s financial position or its currency’s value.

    $82 billion is barely six months’ worth of Iraq’s annual GDP of $155 billion (CIA World Factbook). This is a “one-shot-deal”, not a recurring revenue. It should boost the value of the dinar to a certain extent. But once it is factored in, it will have no further boosting effect.

    Next is the forgiveness of Iraq’s debt by as much as 80%. With most of that forgiveness already applied between 2004 and 2010, the current remaining debt, as reported by the CIA World Factbook, is $50 billion. Iraqi Foreign Minister Hoshyar Zebari expects this to be completely paid off by 2015, making the nation debt free.

    Though this is quite the achievement, it is another “one-shot-deal”, not a recurring revenue. Its value is only 4 months’ worth of GDP, spread out over the next 2 years, the effect of which should strengthen the IQD a little over time until 2015 and then stop.

    Finally, as the greatest benefit of the UN’s decision, Iraq will be in full control of its oil revenues to spend as its elected governing bodies determine. Yet this does not result in an immediate increase in the nation’s wealth. Rather, the immediate effect of taking control of its finances will likely result in a worse balance sheet over the shorter term.

While under Chapter 7, Iraq could do just two things with its oil revenues: pay reparations to Kuwait and invest in its reconstruction fund, which included upgrading infrastructure and expanding its oil production.

Under Chapter 6, however, Iraq will have to manage additional expenses. It must rebuild its military, not an inexpensive task in these modern times. It also needs to start dealing with the multitude of claims against it by nations and groups not yet compensated for Saddam’s abuses against them.

Slow Evolution

Iraq’s economy will grow. It will become wealthier, and the dinar will increase in value. But this will evolve slowly over time.

As Rudaw reports:

    “According to Iraq’s energy plan, oil exports are expected to reach 6 million barrels per day by 2017, elevating the federal budget to $216 billion, [and] 9 million barrels per day by 2020, raising the budget to $324 billion. In 2025, the federal budget will reach $432 billion, if Iraq succeeds to export 12 million barrels of oil per day.”

Sounds like a great plan, and it will strengthen the IQD gradually over the next 12 years. But only when the Iraqi central bank finally decides to allow the currency to trade freely. As it is now, it just keeps returning to those same central bank-controlled rates.

The change from one UN chapter classification to another does only one thing: it puts sovereignty back into Iraq’s hands. But the journey to prosperity and ultimately a strong currency depends on what that nation’s government does with its new found freedom. Is it responsible enough? Is it capable enough? Is it united enough?

The future of the IQD depends on more than just a UN classification and the return of frozen assets. It depends on Iraq’s patching up differences with its neighbors and unifying its own citizens, on its continued reconstruction and investment in its oil industry, and on its willingness to open the cage confining its currency to let it fly and trade freely in an open market.

Until these three things happen – unity, reconstruction, and free exchange – the IQD will have a heck of a time gaining any strength at all.

In the meantime, other markets that are fully united, fully built, and fully free are ready and waiting for our investments. And they will likely give us a better return over a shorter period of time.

June 27’s news on the chapter change has had no impact on the IQD thus far, currently trading at 1162 per 1 USD, as it was then.

Iraq’s 2014 budget will arrive for approval in October

Baghdad (newsletter). The parliamentary Finance Committee member MP/Kurdish Alliance/Jimmy is capable, that the federal budget bill for the year (2014) will arrive to the House during the month of October, for approval by the Council during the current year.

He is capable of speaking (News Agency): in accordance with the Financial Administration Act and the public debt No. 95 of 2004 amended budget arrive in October, indicating that this year there was the work of the Committee in coordination with the Government of the time on the budget, to be completed and sent time.

He added: the budget will act according to the law, i.e. they arrive before the day of the month of October, adding: that during the two and a half months would be endorsed by Council, believe for it to enter into force early next year.

Earlier, the parliamentary Finance Committee discussed the preparation of the estimates for the federal budget in 2014 and agree on the formation of the subsidiary committees of the members of the Committee to discuss some State ministries on POPs.

Weights, indicate that the financial budget for the next year, which will increase jobs and installing contractors with government departments, and also to double the country’s revenues of approximately 143 trillion dinars

LINK

Iraq’s 2014 budget will arrive for approval in October

Baghdad (newsletter). The parliamentary Finance Committee member MP/Kurdish Alliance/Jimmy is capable, that the federal budget bill for the year (2014) will arrive to the House during the month of October, for approval by the Council during the current year.

He is capable of speaking (News Agency): in accordance with the Financial Administration Act and the public debt No. 95 of 2004 amended budget arrive in October, indicating that this year there was the work of the Committee in coordination with the Government of the time on the budget, to be completed and sent time.

He added: the budget will act according to the law, i.e. they arrive before the day of the month of October, adding: that during the two and a half months would be endorsed by Council, believe for it to enter into force early next year.

Earlier, the parliamentary Finance Committee discussed the preparation of the estimates for the federal budget in 2014 and agree on the formation of the subsidiary committees of the members of the Committee to discuss some State ministries on POPs.

Weights, indicate that the financial budget for the next year, which will increase jobs and installing contractors with government departments, and also to double the country’s revenues of approximately 143 trillion dinars

LINK