Hi all,
I apologize, but I won't be creating a summary tonight. I just returned from a long day at work and still have a few things to take care of. So, I won't have enough time to create my normal summary tonight. I apologize for that. That said, I thought today's news was pretty interesting and feel that things are still moving forward, albeit at a slower pace than I'm sure we all want it to move. Med summed it up pretty well for today and you can read his summary here.
Take care!
Justwaitingforit
Wednesday, February 16, 2011
2-16-11 Speculation blurb in Wikipedia
Highlights/Thoughts
PLEASE DO NOT READ THIS IF YOU DO NOT WANT TO READ RUMORS
Amanda brought this to my attention via email. Thank you Amanda!
Click on the title of this posting to get the details of this on Wikipedia
Wikipedia wrote this in the speculation section:
Speculation has it that the Central Bank of Iraq has announced they have revalued the Iraqi Dinar at a rate of $1170.00 to the USD. This was announced on Sunday, February 13th at a lavish private ceremony in Baghdad. United States citizens have been known to use their individual retirement account to purchase physical Iraqi Dinar notes through brokerage services and an IRA administrator. The notes are then stored at a depository to satisfy Internal Revenue Service rules for Iraqi Dinar IRA investments.
Bear in mind that Steve I from PD just said they announced the RV and used the bleachers that many said were not there.
PLEASE DO NOT READ THIS IF YOU DO NOT WANT TO READ RUMORS
UPDATE: It appears that the rate can be edited on Wikipedia. The rate has shown different rates throughout the day.
Amanda brought this to my attention via email. Thank you Amanda!
Click on the title of this posting to get the details of this on Wikipedia
Wikipedia wrote this in the speculation section:
Speculation has it that the Central Bank of Iraq has announced they have revalued the Iraqi Dinar at a rate of $1170.00 to the USD. This was announced on Sunday, February 13th at a lavish private ceremony in Baghdad. United States citizens have been known to use their individual retirement account to purchase physical Iraqi Dinar notes through brokerage services and an IRA administrator. The notes are then stored at a depository to satisfy Internal Revenue Service rules for Iraqi Dinar IRA investments.
Bear in mind that Steve I from PD just said they announced the RV and used the bleachers that many said were not there.
2-16-11 Skype chat: PD Update - Steve
Highlights/Thoughts
PLEASE DO NOT REA THIS IF YOU DO NOT WANT TO READ RUMORS
1. If the last 3 ministry positions are filled on Sunday, Steve is pretty sure we'll see the RV next week
2. Members of the UST and the MOF have been meeting all week to oversee the final details
3. All is looking good
***********************************************************************************************
[5:18:22 PM] If all goes well Sunday with the last three ministry positions, then I think (pretty sure, almost positive) next week will conclude this long process. Members of the US treasury and the Ministry of Finance have been meeting all week to oversee the final details. All looking good my friends. Blessing to you all, Steve
PLEASE DO NOT REA THIS IF YOU DO NOT WANT TO READ RUMORS
1. If the last 3 ministry positions are filled on Sunday, Steve is pretty sure we'll see the RV next week
2. Members of the UST and the MOF have been meeting all week to oversee the final details
3. All is looking good
***********************************************************************************************
[5:18:22 PM] If all goes well Sunday with the last three ministry positions, then I think (pretty sure, almost positive) next week will conclude this long process. Members of the US treasury and the Ministry of Finance have been meeting all week to oversee the final details. All looking good my friends. Blessing to you all, Steve
2-16-11 Skype chat - PD Update (Tony)
Highlights/Thoughts
PLEASE DO NOT READ THIS IF YOU DO NOT WANT TO READ RUMORS
1. PD hasn't had any calls because they felt that we were close to the end
2. They've received information from people either involved in the process, or who are working in close proximity to those who are
3. They are just as baffled as we all are about why this has not happened
4. They should be receiving updated information today
5. There will likely be a conference call today
**********************************************************************************************
Update from Tony; Guys I would like to say thanks for the vote of confidence. To tell you the truth, we have not had any conf calls because we have felt that with the information we were receiving, we are so close to the end that there was no need. I don't mind telling you guys (I didn't tell Steve and Dan that I was doing this) that we have received information from people who are either involved in the process (in some form or fashion) or are working in close proximity to those who are. They are just as baffled as we are as to why this has not already happened. With that said, we should be receiving some updated info today and since you have asked, we will more than likely have a conf call later today. We are close, just hang in there a little while longer. Tony 0
PLEASE DO NOT READ THIS IF YOU DO NOT WANT TO READ RUMORS
1. PD hasn't had any calls because they felt that we were close to the end
2. They've received information from people either involved in the process, or who are working in close proximity to those who are
3. They are just as baffled as we all are about why this has not happened
4. They should be receiving updated information today
5. There will likely be a conference call today
**********************************************************************************************
Update from Tony; Guys I would like to say thanks for the vote of confidence. To tell you the truth, we have not had any conf calls because we have felt that with the information we were receiving, we are so close to the end that there was no need. I don't mind telling you guys (I didn't tell Steve and Dan that I was doing this) that we have received information from people who are either involved in the process (in some form or fashion) or are working in close proximity to those who are. They are just as baffled as we are as to why this has not already happened. With that said, we should be receiving some updated info today and since you have asked, we will more than likely have a conf call later today. We are close, just hang in there a little while longer. Tony 0
2-16-11 National Conference Officially Confirms Candidacy Chalabi for Ministry of Interior
Highlights/Thoughts
Click on the title of this posting to get the details of this article
1. The National Congress Party nominated Chalabi for the ministry of interior
2. Most of the political blocs approved of the nomination
Click on the title of this posting to get the details of this article
1. The National Congress Party nominated Chalabi for the ministry of interior
2. Most of the political blocs approved of the nomination
2-16-11 * Budget Ready for Final Reading Wednesday in Parliament
Highlights/Thoughts
Click on the title of this posting to get the details of this posting on DD
1. The deputy head of the finance committee said some paragraphs of the budget have been amended to incorporate the salary reduction for the senior government posts
2. He added that there is a chance for increasing the wages for junior posts
3. The salaries of the posts from the director general rank upwards as well as the salaries of the lawmakers are proposed to be cut 10%
4. The salaries for the 3 presidencies is proposed to be cut by 20%
5. The reductions will be spent on public services (food programs, agriculture, and education)
6. There is a strong chance for the 20% raise for senior government employees, but the rate is not indicated
7. The Iraqi Council of Ministers ratified the budget bill for the second time on Feb 6th
8. The budget is now ready for the second and final reading Wednesday in Parliament
9. The delays in government formation followed by disputes over the budget has suspended the budget
10. A Kurdish newspaper allueds to the recent fiscal promises made by Maliki as "precautions against any uprising like the recent ones in the Arab world
Click on the title of this posting to get the details of this posting on DD
1. The deputy head of the finance committee said some paragraphs of the budget have been amended to incorporate the salary reduction for the senior government posts
2. He added that there is a chance for increasing the wages for junior posts
3. The salaries of the posts from the director general rank upwards as well as the salaries of the lawmakers are proposed to be cut 10%
4. The salaries for the 3 presidencies is proposed to be cut by 20%
5. The reductions will be spent on public services (food programs, agriculture, and education)
6. There is a strong chance for the 20% raise for senior government employees, but the rate is not indicated
7. The Iraqi Council of Ministers ratified the budget bill for the second time on Feb 6th
8. The budget is now ready for the second and final reading Wednesday in Parliament
9. The delays in government formation followed by disputes over the budget has suspended the budget
10. A Kurdish newspaper allueds to the recent fiscal promises made by Maliki as "precautions against any uprising like the recent ones in the Arab world
2-16-11 Maliki’s cabinet to complete next week
Highlights/Thoughts
Click on the title of this posting to get the details of this article
1. Parliament voted unanimously to take the 8 ministerial candidates
2. Maliki promised to provide the names of the candidates to fill the security positions next week
3. Saleh called upon the protesters to protest against he government of the past 7 years--not the current government
Click on the title of this posting to get the details of this article
1. Parliament voted unanimously to take the 8 ministerial candidates
2. Maliki promised to provide the names of the candidates to fill the security positions next week
3. Saleh called upon the protesters to protest against he government of the past 7 years--not the current government
2-16-11 Med chat 6am EST
Highlights/Thoughts
Click on the title of this posting to get the details of this posting on 1 Dinar (membership required)
1. It's not a good day to be in charge of a government in the ME
2. Tunisia, Egypt, Iraq, Yemen, Bahrain (he implies they having problems with protesters)
3. Iraq made a HUGE mistake today
4. They shot protesters
5. A thousand protesters stormed the Governor of Wasit's palace in the early morning
6. They demanded changes
7. Change is not coming fast enough
8. The World Bank said OK we'll give you money, but ... Med's writing is not clear on this, but I think he is trying to say that the World Bank said they made a mess with all the turmoil and that they are taking the reigns to get something done
9. The market economy will be supported by CBI
Link to article about the protesters storming the palace
Click on the title of this posting to get the details of this posting on 1 Dinar (membership required)
1. It's not a good day to be in charge of a government in the ME
2. Tunisia, Egypt, Iraq, Yemen, Bahrain (he implies they having problems with protesters)
3. Iraq made a HUGE mistake today
4. They shot protesters
5. A thousand protesters stormed the Governor of Wasit's palace in the early morning
6. They demanded changes
7. Change is not coming fast enough
8. The World Bank said OK we'll give you money, but ... Med's writing is not clear on this, but I think he is trying to say that the World Bank said they made a mess with all the turmoil and that they are taking the reigns to get something done
9. The market economy will be supported by CBI
Link to article about the protesters storming the palace
2-16-11 Kuwaiti Emir will attend Arab Summit in Baghdad;
Highlights/Thoughts
Click on the title of this posting to get the details of this article
1. The State of Kuwait confirmed that the Emir of Kuwait will attend the Arab summit in Baghdad on March 29th
2. A news reported said the meeting between Maliki and the Emir of Kuwait was fast and did not last more than 5 minutes and explained that the visit is free of any formal consultative meeting
3. The article mentioned that the Kuwait PM visted Baghdad on Jan 12th, during which he met with both Maliki, Talabani, Nujaifi, Zabari, and a number of Iraqi officials
4. The remainder of the article provides historical reference regarding the relationship between Iraq and Kuwait
5. Noteworthy, however, is the mention in the last paragraph of the outstanding items Iraq must meet obligations on: 1) compensation; 2) prisoners and missing Kuwaitis; 3) demarcation of the border between Iraq and Kuwait
Click on the title of this posting to get the details of this article
1. The State of Kuwait confirmed that the Emir of Kuwait will attend the Arab summit in Baghdad on March 29th
2. A news reported said the meeting between Maliki and the Emir of Kuwait was fast and did not last more than 5 minutes and explained that the visit is free of any formal consultative meeting
3. The article mentioned that the Kuwait PM visted Baghdad on Jan 12th, during which he met with both Maliki, Talabani, Nujaifi, Zabari, and a number of Iraqi officials
4. The remainder of the article provides historical reference regarding the relationship between Iraq and Kuwait
5. Noteworthy, however, is the mention in the last paragraph of the outstanding items Iraq must meet obligations on: 1) compensation; 2) prisoners and missing Kuwaitis; 3) demarcation of the border between Iraq and Kuwait
2-16-11 National Alliance: House of Representatives Will Begin About 60 Law After Ratification of the General Budget
Highlights/Thoughts
Click on the title of this posting to get the details of this article
1. The deputy of the National Alliance said the Council of Representatives will initiate more than 60 laws after the ratification of the budget
2. He pointed out that among these laws the oil and gas law needs to be a top priority in the approval of laws
3. He also saw the law to protect journalist needs to be a priority
4. The head of the Finance Committe announced earlier that the budget will be approved before the end of this month after making amendments proposed by the political blocs and Parliament members
5. The House will be discussing the budget in their meeting today
Click on the title of this posting to get the details of this article
1. The deputy of the National Alliance said the Council of Representatives will initiate more than 60 laws after the ratification of the budget
2. He pointed out that among these laws the oil and gas law needs to be a top priority in the approval of laws
3. He also saw the law to protect journalist needs to be a priority
4. The head of the Finance Committe announced earlier that the budget will be approved before the end of this month after making amendments proposed by the political blocs and Parliament members
5. The House will be discussing the budget in their meeting today
2-16-11 Deputy U.S. Treasury Secretary: We are working on the development of economic sectors in Iraq
Highlights/Thoughts
Click on the title of this posting to get the details of this article
1. US Treasury Secretary Wolin said the economic relations between the US and Iraq is moving forward confidently towards building economic partnership in the coming months
2. He said that the US committed to the terms of the SFA (strategic framework agreement) through the provision of technical support to develop and update the sectors of the Iraqi economy among other things
3. He said the energy, private, commercial, construction, and financial sectors are the most important sectors now. She also mentioned monetary policy
4. He said today, there are US companies that are motionless who can assist in all these sectors and that they could achieve great prosperity for the Iraqi economy
5. The Secretary said they are working at the level of energy to develop and increase the capacity of Iraq's oil and gas, while there is an increase in the terms of trade between the two parties
6. There are also expanded dialogues in the construction and infrastructure sector
7. He noted they have come a long way in the talks aimed at attracting US banks to operate in Iraq and support the pace of development and financing of the private sector projects
8. He said expressed optimism regarding Iraq's development of the monetary policy and said the CBI is making confident steps towards playing a major role
9. He said she hoped the CBI would move Iraq toward a stabilization phase
10. He said that Iraq today is an active member of the IMF
Click on the title of this posting to get the details of this article
1. US Treasury Secretary Wolin said the economic relations between the US and Iraq is moving forward confidently towards building economic partnership in the coming months
2. He said that the US committed to the terms of the SFA (strategic framework agreement) through the provision of technical support to develop and update the sectors of the Iraqi economy among other things
3. He said the energy, private, commercial, construction, and financial sectors are the most important sectors now. She also mentioned monetary policy
4. He said today, there are US companies that are motionless who can assist in all these sectors and that they could achieve great prosperity for the Iraqi economy
5. The Secretary said they are working at the level of energy to develop and increase the capacity of Iraq's oil and gas, while there is an increase in the terms of trade between the two parties
6. There are also expanded dialogues in the construction and infrastructure sector
7. He noted they have come a long way in the talks aimed at attracting US banks to operate in Iraq and support the pace of development and financing of the private sector projects
8. He said expressed optimism regarding Iraq's development of the monetary policy and said the CBI is making confident steps towards playing a major role
9. He said she hoped the CBI would move Iraq toward a stabilization phase
10. He said that Iraq today is an active member of the IMF
2-16-11 * Frank26 Post: KTFM 2/15/11 - Detla's report
Highlights/Thoughts
Click on the title of this posting to get the details of this posting on DD
1. Delta said that the GOI did not work last night according to what was said on TV
2. They will work on the budget and not stop until they finish
3. TV said Maliki spent a lot of time with Allawi
4. Detla said that TV also said that the finance committee has already sent "papers" to parliament (likely their report on the budget)
5. TV kept repeating the urgency to finish the budget ASAP
6. They said the security positions and budget would be done by next week
7. TV confirmed Allawi's position would be given to him after the Arab summit
8. They said his position needs to be approved
9. They said that the US Ambassador met with Allawi and Maliki
10. They said the UST and aides are still there and meeting now with the finance committee
11. They said they are meeting with everyone
12. They also said that the MOP/CBI have reported that inflation went up las month
13. Frank thinks inflation is excellent pressure to pass the budget and introduce the lower denominations
14. They talked about Maliki's trip to Kuwait to resolve the outstanding issues and get Iraq lifted from Chapter 7
15. Maliki admitted on TV to the people that they lack services
16. He said they are trying to communicate with the restless Iraqis before they change their peaceful tactics of voicing their needs
17. TV said the Iraqis will stage a demonstration on the 25th due to lack of services
18. Frank believes the Arab summit holds some clues
19. They claim that they will be ready for the summit by improving conditions in Iraq
20. Iraq says they are going to have a lot of things built by the time the summit comes around
21. He thinks it would be wise for them to have a valuable and tradable currency to bring the supplies needed to perform the rebuilding of Iraq for the summit
Click on the title of this posting to get the details of this posting on DD
1. Delta said that the GOI did not work last night according to what was said on TV
2. They will work on the budget and not stop until they finish
3. TV said Maliki spent a lot of time with Allawi
4. Detla said that TV also said that the finance committee has already sent "papers" to parliament (likely their report on the budget)
5. TV kept repeating the urgency to finish the budget ASAP
6. They said the security positions and budget would be done by next week
7. TV confirmed Allawi's position would be given to him after the Arab summit
8. They said his position needs to be approved
9. They said that the US Ambassador met with Allawi and Maliki
10. They said the UST and aides are still there and meeting now with the finance committee
11. They said they are meeting with everyone
12. They also said that the MOP/CBI have reported that inflation went up las month
13. Frank thinks inflation is excellent pressure to pass the budget and introduce the lower denominations
14. They talked about Maliki's trip to Kuwait to resolve the outstanding issues and get Iraq lifted from Chapter 7
15. Maliki admitted on TV to the people that they lack services
16. He said they are trying to communicate with the restless Iraqis before they change their peaceful tactics of voicing their needs
17. TV said the Iraqis will stage a demonstration on the 25th due to lack of services
18. Frank believes the Arab summit holds some clues
19. They claim that they will be ready for the summit by improving conditions in Iraq
20. Iraq says they are going to have a lot of things built by the time the summit comes around
21. He thinks it would be wise for them to have a valuable and tradable currency to bring the supplies needed to perform the rebuilding of Iraq for the summit
2-16-11 CBI: Integration of private banks will support Iraq’s efforts to provide a free market economy.
Highlights/Thoughts
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1. The CBI believes that the integration of private banks will support Iraq's efforts to provide a free market economy
2. Saleh said that the CBI is moving towards the promotion of private banks to merge with each other creating strong capital and a free market economy free from restrictions
3. He noted there are 40 private banks, but capital is still weak and banks need to be more aggressive with each other to form a strong capital
Click on the title of this posting to get the details of this article
1. The CBI believes that the integration of private banks will support Iraq's efforts to provide a free market economy
2. Saleh said that the CBI is moving towards the promotion of private banks to merge with each other creating strong capital and a free market economy free from restrictions
3. He noted there are 40 private banks, but capital is still weak and banks need to be more aggressive with each other to form a strong capital
2-16-11 Allawi reveals four candidates for the defense and refused to Khuzaie Iraqi Vice-President
Highlights/Thoughts
Click on the title of this posting to get the details of this article
1. Yesterday, Allawi handed over four names to fill the position of the Ministry of Defence
2. Three soldiers and one civilian comprise the candidate list
3. He said that according to the agreement, he was entitled to choose the minister
4. He said that so far only six of the nine Barzani agreements have been applied
5. He added that his meeting with Maliki was positive and he hoped for something that involves being participants in the political decision
6. His discussions with Maliki covered the Barzani initiative and the need to complete the agreements, including the rules of procedure of the Council of Ministers, and a document of political reform
7. They also discussed the dismantling of some devices outside the framework of interior, defense, and the issues of national reconciliation and the strategic policy level
8. Allawi stressed the importance of political consensus at the expense of the Constitution
9. He pointed out that the US wrote the Constitution in two months and said they will suffer from that (suggesting you can't write an effective Constitution in two months)
10. On the policies of the National Council for Strategic High, Allawi stressed that the vote is impeding the adoption of its law
11. The issue, he states, is the dispute over the vote in Parliament or the Council itself
12. Allawi did not support the vote for a fourth VP
Click on the title of this posting to get the details of this article
1. Yesterday, Allawi handed over four names to fill the position of the Ministry of Defence
2. Three soldiers and one civilian comprise the candidate list
3. He said that according to the agreement, he was entitled to choose the minister
4. He said that so far only six of the nine Barzani agreements have been applied
5. He added that his meeting with Maliki was positive and he hoped for something that involves being participants in the political decision
6. His discussions with Maliki covered the Barzani initiative and the need to complete the agreements, including the rules of procedure of the Council of Ministers, and a document of political reform
7. They also discussed the dismantling of some devices outside the framework of interior, defense, and the issues of national reconciliation and the strategic policy level
8. Allawi stressed the importance of political consensus at the expense of the Constitution
9. He pointed out that the US wrote the Constitution in two months and said they will suffer from that (suggesting you can't write an effective Constitution in two months)
10. On the policies of the National Council for Strategic High, Allawi stressed that the vote is impeding the adoption of its law
11. The issue, he states, is the dispute over the vote in Parliament or the Council itself
12. Allawi did not support the vote for a fourth VP
2-16-11 Maliki met with Emir of Kuwait
Highlights/Thoughts
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1. Malikie met with the Emir of Kuwait, Deputy Prime Minister, and the Foreign Minister
2. The purpose of their meeting was to exchange cordial talks reflecting teh depth of the bilateral relations between the two countries and the prospects for expanding cooperation frameworks in all fields
3. They also discussed common issues
Click on the title of this posting to get the details of this article
1. Malikie met with the Emir of Kuwait, Deputy Prime Minister, and the Foreign Minister
2. The purpose of their meeting was to exchange cordial talks reflecting teh depth of the bilateral relations between the two countries and the prospects for expanding cooperation frameworks in all fields
3. They also discussed common issues
2-16-11 Parliament votes against Iraqi President’s proposal to increase number of his Vice-Presidents:
Highlights/Thoughts
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1. Parliament voted to reject Talabani's proposal to increase the number of VPs to four
2. Parliament's Legal Committee faild to read the text of the President's proposal due to the opposition of a large number of legislatures
4. A source said there are discussions outside of Parliament to replace Khudhier al-Khuze'e (National Coalition candidate) with the Turkoman
Click on the title of this posting to get the details of this article
1. Parliament voted to reject Talabani's proposal to increase the number of VPs to four
2. Parliament's Legal Committee faild to read the text of the President's proposal due to the opposition of a large number of legislatures
4. A source said there are discussions outside of Parliament to replace Khudhier al-Khuze'e (National Coalition candidate) with the Turkoman
2-16-11 House of Representatives held its 33-headed Nujaifi and the presence of 245 deputies
Highlights/Thoughts
Click on the title of this posting to get the details of this article
1. The House held its 33 session
2. Today's session is supposed to cover the first reading to amend the draft Law on the Election of VPs of the Republic, the report of the Commission on Human Rights, the second reading of the draft law of the Federal Court, and a continuing discussion of the budget
Click on the title of this posting to get the details of this article
1. The House held its 33 session
2. Today's session is supposed to cover the first reading to amend the draft Law on the Election of VPs of the Republic, the report of the Commission on Human Rights, the second reading of the draft law of the Federal Court, and a continuing discussion of the budget
2-16-11 CBI auction results
Currency Auctions
Announcement No. (1836)
The latest daily currency auction was held in the Central Bank of Iraq on the 16-FEB-2011. The results were as follows:| DETAILS | NOTES |
| Number of banks | 20 |
| Auction price selling dinar / US$ | 1170 |
| Auction price buying dinar / US$ | ----- |
| Amount sold at auction price (US$) | 231,287,000 |
| Amount purchased at Auction price (US$) | ----- |
| Total offers for buying (US$) | 231,287,000 |
| Total offers for selling (US$) | ----- |
Dollar's exchange rates / in Baghdad markets
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