1-23-11 Iraq says it will withdraw from the government if they do not constitute Council Policy

Highlights/Thoughts
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1. Member of the List said that any reneging on the agreements related to forming the board or Allawi heading the Supreme Council will result the List withdrawing from the government

1-23-11 CBI Auction results

  Currency Auctions

Announcement No. (1819)

The latest daily currency auction was held in the Central Bank of Iraq on the 23-JAN-2011. The results were as follows:

Details	Notes
Number of banks	16
Auction price selling dinar / US$	1170
Auction price buying dinar / US$	-----
Amount sold at auction price (US$)	113,546,000
Amount purchased at Auction price (US$)	-----
Total offers for buying (US$)	113,546,000
Total offers for selling (US$)	-----

Exchange rates

Dollar's exchange rates / in Baghdad markets

1-23-11 RV not Imminent rumor on J4D

Highlights/Thoughts
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1. Person spoke with the finance person in person regarding the IQD
2. Finance person is in charge of inputting exchange rates into the computer
3. Finance person gets 24 hours advanced notice of any change
4. The advance noticed is used to determine how much currency to order
5. They have nothing that indicates the IQD will RV for the next 60-90 between $3.30 - $3.75
6. This information comes directly from the CBI
7. Finance person said it is possible that when the RV happens, it could happen with less than the normal 24 hour notice
8. Not looking good for this week

1-23-11 Central warns of compromising its independence and calls on the Federal Court to clarify its decision

Highlights/Thoughts
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1. CBI advisor said that he has concerns of the Federal Court decision to link a number of independent bodies referred to in the Constitution directly under the Prime Minister and not under the House
2. Saleh said the linkage as defined by the Federal Court is vague and not sufficient to affirm the autonomy of the bank
3. Saleh warned that undermining the independence of the CBI will lead to opening the door to foreign court's taking Iraq's funds in the event of a suit against Iraq
4. Saleh said according to Article 103 (paragraph 2), the CBI answers to the Council of Representatives

1-23-11 Maliki, Allawi, Jaafari meets periodically to resolve the security ministries and Policy Council

Highlights/Thoughts
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1. Maliki, Allawi, and Jaafari will meet periodically throughout the week to resolve the security positions and the National Council of the policies
2. The candidate of the Ministry of Electricity proposed to increase the electricity for citizens to 18 hours per day by 1.5 years, but his proposal Maliki an no other party has responded

1-23-11 Iraqi finance minister vowed to insert Kurdish demands in budget bill

Highlights/Thoughts
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1. The Kurdistan Finance Minister vowed to incorporate the Kurdish demands in the 2011 budget
2. Kurdistan budget was decreased from 17% to 11.6%
3. Iraqi minister promised that the agreements between Baghdad and Erbil over Kurdistan oil exports and reimbursing foreign oil companies in Kurdistan will be included in the 2011 budget
4. Iraqi minister also promised to consider the Kurdish viewpoint on the modification of the budget prior to submitting it for final voting
5. The Peshmerga forces continues to be an issue that needs to be resolved

1-23-11 Ziad worldwide abolition: House of Representatives will host the heads of bodies to discuss the final accounts

Highlights/Thoughts
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1. Prior to the adoption of the 2011 budget, Parliament will host the heads of agencies and institutions to review the 2010 financial statements