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14 Nov 18, 07:05 AM xyz   DEEP ROOTED Source: Central Bank is attacked by the "electronic armies" of banks affected by his policy
BAGHDAD / Sumer News - An official source at the Central Bank said that the campaign against the bank is behind the electronic armies of banks affected by the monetary and monetary policy followed by the Central Bank.

The source added in an interview with Sumer News that "the central bank has followed a policy of high-level to maintain the exchange rate of the Iraqi dinar and succeeded in that and there is a misguided campaign targeting this policy by some of those affected by them."

xyz  Iraq to launch investigation into millions of dollars 'missing' from public bank
https://www.thebaghdadpost.com/en/Story/33173/Iraq-to-launch-investigation-into-millions-of-dollars-missing-from-public-bank 
Iraq's parliament is expected to launch a probe to determine how $6 million worth of local currency stored in public bank coffers was damaged by heavy rain, the National newspaper reported on Wednesday.

Iraq's parliament is expected to launch a probe to determine how $6 million worth of local currency stored in public bank coffers was damaged by heavy rain, the National newspaper reported on Wednesday.

Central Bank Governor Ali Allaq appeared in front of lawmakers in parliament on Monday to answer questions on the case which dates back five years.

"At the end of 2013, the vaults of the Rafidain Bank were flooded because of huge rains at the time, damaging the bills that were stored there," Mr Allaq said, adding that they were worth around seven billion Iraqi dinars.

Lack of transparency and unreliable governance has been at the heart of Iraq's woes, made worse by the effects of a costly three-year war against ISIS that coincided with a dip in oil prices.

Mr Allaq said the central bank reprinted new bills to replace the soaked ones but, since the money had not been in circulation, the only real "loss" was the cost of printing.

His comments however did not reassure Iraqi politicians that attended the six-hour parliamentary session. A number of lawmakers requested evidence and data confirmation that the damaged was caused by water from heavy rainfall.

"The information that was presented to us indicates that the damaged currency is 12 billion Iraqi dinars, not seven billion," Ahmad Hama Rashid, a member of the Iraqi parliament's finance committee said.

Mr Rashid said during the next parliamentary session Mr Allaq will be questioned and will have to provide solid evidence to the cabinet.

Former politican, Hanan Al Fatlawi, called on Prime

xyz  Former politican, Hanan Al Fatlawi, called on Prime Minister Adel Abdul Mahdi to hold Mr Allaq accountable for the loss of funds.

"The Central Bank governor and director of Rafidain Bank need to be held accountable for negligence," Ms Al Fatlawi said on Twitter.

According to parliament, corruption, shell companies an "phantom" public employees who receive salaries but do not work have cost Iraq the equivalent of $228 billion dollars since 2003. The figure is more than Iraq's gross domestic product and nearly double the annual budget.

Iraq is ranked 169 out of 180 countries in Transparency Internationals corruption perception index, with the lowest state being the most corrupt.
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13 Nov 18, 08:04 AM chattels  Iraqi PM Abdel-Mahdi tells US ambassador that Iraq has no substitute for Iranian gas & electricity. Iraq requires a permanent exemption to US sanctions on Iran or disaster. PM considering trip to US to meet US President to discuss the matter. http://mobp.as/iGhFn
chattels  In Iraq, leader in Sadrist movement calls on PM to quickly develop plan to protect Mosul from ISIS attacks. Accuses US of deliberately leaving liberated areas without ensuring they are properly secured. http://mobp.as/81oFn

larrykn  Economy news Baghdad
Iraqi Central Bank Governor, on the relationship, the central reserves reached 61 billion dollars at present, revealing a $15 billion debt to the Bank.
Media Office said deputies in a statement obtained by the news, "economy", the Council discussed the meeting on Monday, monetary policy in the presence of the Iraqi Central Bank Governor on the relationship. "
The statement drew a clearer relationship to the Iraqi Central Bank reserves "is different from the Government's reserve", stating "the Government reserve resulting from the Ministry of finance and the surplus is what happened in the years prior to the year 2012 as the reserve in 2012 to 20 billion dollars deficit declined after simple sums.
"The Reserve Bank is currently higher than the former, in 2014 about 66 billion dollars, while reserve currently about 61 billion dollars as well as a $15 billion debt to the Central Bank to the Government of financing the budget deficit."
"The World Bank statement said he bought Treasury securities and money market especially if oil revenues did not exceed 2.5 billion dollars per month toward the net while salaries 4 billion per month, which could lead to the collapse of the economic situation which the imposition of Central Bank intervention", noting that "enough. Reserve in Iraq according to international standards currently 169% and is expected to arrive in two months to about 180% the size of Iraqi currency in circulation in the market stood at 43 trillion dinars. "

chattels  Can Abdul Mahdi make Iraq's grand plans a reality?

Salam Zidane November 12, 2018

Read more: http://www.al-monitor.com/pulse/originals/2018/11/iraq-economy-adil-abdul-mahdi.html#ixzz5Wjw5RQiM

BAGHDAD New Iraqi Prime Minister Adel Abdul Mahdi recently submitted an ambitious development and financial plan to parliament, but his proposals will face major challenges namely a lack of revenues, spreading financial and administrative corruption, a weak administrative system and a struggling private sector.

Read more: http://www.al-monitor.com/pulse/originals/2018/11/iraq-economy-adil-abdul-mahdi.html#ixzz5WjwIDWrh

chattels  "Investment in Iraq suffers from a major imbalance. When investors embark on new projects, they tend to use the state funds as capital instead of their own, and they use plots of land belonging to the state," Tamimi said. The 2019 draft budget cannot be passed without the government amending it in a way that fits the government program."

Read more: http://www.al-monitor.com/pulse/originals/2018/11/iraq-economy-adil-abdul-mahdi.html#ixzz5Wjwbauyq

The main problem facing Abdul Mahdi is bureaucracy, and financial and administrative corruption."

Read more: http://www.al-monitor.com/pulse/originals/2018/11/iraq-economy-adil-abdul-mahdi.html#ixzz5WjwnwrQg

chattels  It should be noted that the International Monetary Fund suspended negotiations with the Iraqi government for more than a year as it awaited the new vision of Iraq's next government, which has turned out to be Abdul Mahdis. Negotiations to address the Iraqi economy are to resume in the coming months in Washington and Amman, Jordan.

Asked to comment on Abdul Mahdis economic program, economic researcher Salam Adel told Al-Monitor, The aspects of the new government program have started to surface and are no different than those of previous governments.

He said, The problem in Iraq lies in the public sector, which siphons 90% of the countrys oil proceeds and creates obstacles for the private sector. ... Iraq needs to get rid of [some] public sector employees, because it's not reasonable for the state to pay more than $35 billion a year in salaries to employees with very poor productivity.

Read more: http://www.al-monitor.com/pulse/originals/2018/11/iraq-economy-adil-abdul-mahdi.html#ixzz5Wjx4qLAm

chattels"  ......... the International Monetary Fund suspended negotiations with the Iraqi government for more than a year as it awaited the new vision of Iraq's next government, which has turned out to be Abdul Mahdis."

" Negotiations to address the Iraqi economy are to resume in the coming months in Washington and Amman, Jordan

The aspects of the new government program have started to surface and are no different than those of previous governments.

We wait watch and hope for better. It may be years before we have any realistic hope of a return on investment in Iraq.

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Nov 12 am chattels  Agenda for #Iraq parliament session Mon has been published. Annual budget law to be discussed but nothing on cabinet structure link

In Iraq, Building Coalition says Parliament will likely vote on unfilled cabinet positions on Thursday. Falih Fayyadh will be voted on for Interior Minister despite Sairoon's objections. No progress on Defense Minister due to Sunni disagreements.
http://mobp.as/NwHEn

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10 Nov 18, 06:36 AM  chattels  "obstacles are still in place to carry out investment projects, .........."
"wars destroyed infrastructure and Iraq does not bear responsibility for construction alone."
chattels  Sounds like more fault finding and begging to come, IMO.
"Our battle today is to enforce law and order, and we do not want a single commodity economy,"

Instability / insecurity and economic dependence upon oil still. IMO.

The start of the session of the House of Representatives headed by Kaabi
Editorial Date: 2018/11/10 14:41 http://www.alliraqnews.com/modules/news/article.php?storyid=78864

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11/9/2018 AM chattels  Large volume of currency sold at auction ........................... The Central Bank is selling $ 225 million in the currency auction today | 07/11/2018 22:29 link

Typically ( of late ) large volume sales are an effort by the CBI to maintain stability in the rate / value of the dinar against the dollar.

Abdul Mahdi Office: Selection of five ministers from the cabin voted by electronic filtering https://www.ninanews.com/News_Details.aspx?p0bYTAXs65T8fmQY6WQtWg%253d%253d

THe skeptic in me suggests that the five were politically connected already and that the " direct nomination by electronic means " is a contrivance.'

chattels  A new drop for the dollar in Baghdad today
2018/11/8
Foreign exchange markets in Baghdad, on Thursday morning, a new decline in the exchange rate of the US dollar against the Iraqi dinar.
The market price in the Stock Exchange in Baghdad 1204 dinars to the dollar, or 120 thousand and 400 dinars per hundred dollars, after yesterday was 1204.5 dinars to the dollar.
The prices of selling and buying dollars in banking companies were:
The selling price of one dollar 1210 dinars, or 121 thousand dinars for one hundred dollars.
The purchase price of the dollar is 1200 dinars, or 120 thousand dinars for one hundred dollars. http://alforatnews.com/modules/news/article.php?storytopic=37&storyid=179420

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3 Nov 18, 12:27 AM chattels  Water shortages, disease kill off thousands of fish in Babylon By Rudaw http://www.rudaw.net/english/middleeast/iraq/02112018

"Babylon province woke up today to an environmental catastrophe, which is the Euphrates River filled with dead fish," said a local resident.

Iraq is suffering from a water shortage crisis caused by a confluence of factors climate change, Turkish dams on the transboundary rivers, aging infrastructure, and mismanagement of the resource.

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1 Nov 18, 09:25 PM chattels  Iraq coming out of cycle of violence: UN By Rudaw http://www.rudaw.net/english/middleeast/iraq/011120181

While regretting the casualties, the fact that these figures are the lowest UNAMI has recorded since November 2012, is a positive indicator and shows that the country is gradually coming out of the cycle of violence into which it was forced by terrorists, stated Jan Kubis, head of UNAMI.

Iraq has known near constant instability and insurgency since Saddam Hussein was toppled in 2003. Large parts of the country were under control of the terror group ISIS for some three years. The jihadists were militarily defeated in 2017, but remain a serious security threat.

Iraqi and Kurdish armed forces carry out regular operations against ISIS sleeper cells and small militant groups.
Of course it was the Abadi govt which passed this budget bill, but Abd al-Mahdi has adopted it. Passing the budget will be an early challenge. https://twitter.com/UticaRisk

Alsumaria News publishes draft budget law 2019, which includes the size of its revenues and deficit link

............... the deficit will be around 22 trillion and 873 billion and 365 million and 557 thousand dinars will be covered by increases in oil prices or increased production and domestic and external borrowing."

Sumerian News / Baghdad The draft draft law for Iraq's budget for the next year 2019 revealed that the estimated revenues were calculated from the export of crude oil on the basis of the rate of 56 dollars per barrel and an export rate of 3 million and 880 thousand barrels per day, including 250 thousand barrels per day of the quantities of crude oil produced In the provinces of Kurdistan on the basis of the exchange of 1182 dinars per dollar. link

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31 Oct 18, 08:02 chattels  The crowd is deploying 20,000 fighters on the border with Syria
[BAGHDAD - Where]
Popular crowd forces, Tuesday, deployed 20,000 fighters from an associate on the border with Syria.
"Twenty thousand fighters from the Popular Brigades came to the Iraqi-Syrian border to secure the border after the fall of Syrian villages, however," the media said in a statement.
http://www.alliraqnews.com/modules/news/article.php?storyid=78630

THE VISIONARY LEADER IRAQ NEEDS IN ABDUL-MAHDI
Posted by Iraqi Thoughts | Oct 30, 2018 | http://1001iraqithoughts.com/2018/10/30/the-visionary-leader-iraq-needs-in-abdul-mahdi/
With the election of Adil Abdul-Mahdi as prime minister of Iraq, many in the country are wondering what sort of leader he will make. The cabinet he presented to parliament sent a worrying signal of his intent. It contained individuals found guilty of corruption such as Muhammad Al-Ani for Trade and Ahmed Riyadh for Youth and Sports, and Baathists such as Naem Al-Rubayi for Telecomunications and Faisal Al-Jarba for Defence. A number of such ministers were not approved by parliament, although Fuad Hussein still made it through. With such a shaky and unsettling first step, it begs the question: what kind of prime minister will Adil Abdul-Mahdi be? Moreover, what will he need to be to succeed?
Mustafa Habib @Mustafa_Habib33

Dangerous details on the #Iraqi-Syrian border:
Last week, PM Abdul Mahdi received an intelligence report says that #ISIS activities are growing with possible attack on Iraq by 3 sides in #Anbar, northern Euphrates (towards Jazeera desert & southern #Mosul) & Southern Euphrates https://twitter.com/Mustafa_Habib33

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30 Oct 18, 07:31 AM chattels  Gen. Terrence J. O'Shaughnessy: "By the end of this week, we will deploy over 5,200 soldiers to southwest border. That is just the start of this operation." Full video here: https://www.c-span.org/video/?453817-1/pentagon-deploy-5200-troops-southern-border-stop-migrant-caravan

The disjointed and convoluted narrative out of Iraq includes the following : Iraqi PMF (Hashd): the US is behind the return of ISIS to the Syria-Iraq border. The US is doing this to pressure the new Iraqi government so it will not discuss removing US Forces from Iraq.
http://mobp.as/GtXwn

Intel: Why Iraqs parliament wont seat key ministers
Al-Monitor Staff October 25, 2018

Read more: http://www.al-monitor.com/pulse/originals/2018/10/intel-why-iraq-parliament-seat-key-ministers.html#ixzz5VPjBnXDP

Voting on the remaining Cabinet members is scheduled for Nov. 2. Abdul Mahdis government, however, has already started operating, with the vacant ministries filled via temporary appointments. The prime minister will seek to present eight new candidates by early November. Current indications are that he wont be able to get enough support in parliament, thus postponing the final formation of his Cabinet until another legislative session.

Read more: http://www.al-monitor.com/pulse/originals/2018/10/intel-why-iraq-parliament-seat-key-ministers.html#ixzz5VPjWGcAC

It remains to be seen how Abdul Mahdi will deal with the security ministries in general and the PMU in particular. He will most likely be under great pressure if he suggests the PMU should form a political wing separate from its militias. Also, if he wants to replace Fayadh, he ought to choose a candidate from the Fatah Alliance, since it is affiliated with the PMU and helped him become prime minister. However, Abdul Mahdi will have to endure other pressures from the reformist blocs, which insist on independent technocrats, while the US administration doesn't want an ally of Iran to head the PMU, especially since many PMU militias are already pro-Iran.

Read more: http://www.al-monitor.com/pulse/originals/2018/10/iraq-shiite-militias-pmu-falih-fayyad.html#ixzz5VPkb7f9z

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27 Oct 18, 05:02 AM chattels  Abdul Mahdi takes over the Interior and Defense Agency
[Ayna-Baghdad]
Prime Minister Adel Abdul-Mahdi, on Friday, for his administration of the Ministries of Defense and Interior, until the appointment of two ministers.

http://www.alliraqnews.com/modules/news/article.php?storyid=78539

Abdul-Mahdi: We will finish soon to complete the cabinet and there are no problems
Release Date: 2018/10/25 17:20 http://www.alliraqnews.com/modules/news/article.php?storyid=78514
Iraqi oil export revenues in September close to 8 billion dollars https://www.ninanews.com/News_Details.aspx?bAr0MCkC%252fA%252fwoOImmdmbUJFj4Mqsbr27uxNSqtEGyhQ%253d

BAGHDAD / NINA / The Central Bank of Iraq, the current financial reserve is strong and exceeds 60 billion dollars, as a result of fiscal and monetary policies pursued by the past years to stabilize the financial situation.

chattels  International Report: Oil prices are up 25% since the beginning of the year and prices may more than double

The report pointed to the rise in crude prices 20 to 25 per cent this year, adding that some strongly believe that the return to the triennial figures will come soon, noting that the price of immediate Brent crude to this level since 8 September 2014, Texas Average This price since July 30 in the same year.
https://www.ninanews.com/News_Details.aspx?B4MmS60neUds%252fhXVRxrLGg%253d%253d
This collection of CVs gives a good idea of the full cabinet envisaged by #Iraq PM Abd al-Mahdi. 14 ministers approved Wed, including younger, less known figures, but worth noting there are older and more political operators among remaining candidates link

25 Oct 18, 09:55 AM xyz  Former PM Abadi officially hands over Iraqi gov't to successor Abdul-Mahdi http://www.rudaw.net/english/middleeast/iraq/25102018
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23 Oct 18, 07:22 AM chattels  Collecting signatures to reduce the number of Vice-Presidents of the Republic
[Baghdad - Ayna] A deputy of the Alliance for Reform and Reconstruction said that there are parliamentary movements and the collection of signatures to amend the law of the Presidency to reduce the number of deputies to one deputy.
"There is a parliamentary campaign from the majority of the blocs to amend the law of the presidency of the Republic of the paragraph number of Vice-Presidents," said Abbas Aliawi Kazim in a statement received by the agency All Iraq [where] a copy of it.
He pointed out that "signatures collected within the parliament on the amendment and reduce the number of Vice-Presidents from three to one deputy."
Kazem attributed the reasons for these efforts to "the lack of functions of the President of the Republic and the need for several deputies to satisfy the political blocs," noting that "the parliament will move on the subject after the completion of the formation of the government of Adel Abdul Mahdi."
The Iraqi constitution did not specify the number of Vice-Presidents of the Republic with limited powers.
And chose the former president Fuad Masum 3 deputies of the leaders of the blocks are [Nuri al-Maliki and Iyad Allawi and Osama Najafi].
http://www.alliraqnews.com/modules/news/article.php?storyid=78426
chattels  Abadi tried to do away with all three deputy positions ( Vice-Presidents ). Probably unconstitutional in that the Iraqi Constitution provides for at least one. The other two are by Parliamentary rules and political " pork barrel ".

The Fath Alliance declares its position on incomplete ministerial cabins
[Ayna-Baghdad]
The leadership of the Fatah Alliance led by Hadi al-Amiri, on Monday, its support for Prime Minister-designate Adel Abdul-Mahdi to complete his cabinet.
A spokesman for the Al-Fath Alliance Ahmed al-Asadi said in a press statement that "the leadership of the Fatah Alliance held an important meeting in the office of the head of the coalition."
He added that "the most important outcome of the meeting is the decision of the Commission to support the Prime Minister-designate to complete his Cabinet and the commitment to constitutional times."
The political sources have said earlier, that 70% of the Cabinet was resolved, but there are disagreements on the sovereign ministries that have not been resolved permanently, and is expected to announce the composition of the government partially on Wednesday.
Parliamentary sources said Azzam Abdul Mahdi was to hand over his government cabinet to parliament on Wednesday evening amid reports that part of it had been submitted and incomplete.
http://www.alliraqnews.com/modules/news/article.php?storyid=78431

Prime Minister-designate Adel Abdul-Mahdi will announce the new #Iraqi government in parliament on Tuesday or Wednesday, including around only 16 ministries and postponement 5 ministries to the next month including defense, interior and oil https://twitter.com/Mustafa_Habib33

chattels  Source says incoming Iraqi PM Abdel-Mahdi turns down Maliki's request to make Malaki's son in law minister of Youth & Sports. Also turns down Maliki's request for Dawa Party member to get Oil Ministry.
http://wataniq.com/news?ID=34925

BAGHDAD / NINA / The House of Representatives announced that the voting session on granting confidence to the new Cabinet will be presented by the Prime Minister-designate Adel Abdul-Mahdi with the government platform in front of parliament this week, will be held in the presidential chamber. https://www.ninanews.com/News_Details.aspx?orxIE7skcgQz2EZOyeK6lsaRvfK6iPPpwE4R4u04WN0%253d

Vote(s) of confidence to be taken at 6:00 on Wednesday according to one report.
http://glgamesh.com/archives/16237?fbclid=IwAR17BE4a4P-sYKAWavh6sqVeSP5-PriVrAz64g3UusvtraCZnVTuKiHbySM
Wednesday is the 24th, Mahdi's target date.
Planning: A slight rise in the monthly and annual inflation rate during the month of September
https://www.ninanews.com/News_Details.aspx?QMj65dyeUSNFWPSFnba7Hg%253d%253d

Expert: Iraq vulnerable to major security breach

Hamdi Malik October 20, 2018

Read more: http://www.al-monitor.com/pulse/originals/2018/10/iraq-security-terrorism-syria-idlib.html#ixzz5UkpFJUm8
Iraq's major Dawa Party rethinks course after electoral fumble

Omar Sattar October 20, 2018

Read more: http://www.al-monitor.com/pulse/originals/2018/10/iraq-premiership-dawa-party.html#ixzz5UkqAmSGB

And that's the way it is in Iraq this Tuesday morning, October 23, 2018, from the news that I read.
23 

larrykn  Sadrs coalition says new cabinet lineup should be unveiled by Thursday https://www.iraqinews.com/features/sadrs-coalition-says-new-cabinet-lineup-should-be-unveiled-by-thursday/
 

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