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16 Nov 18, 08:16 PM chattels Dinar Perspectives posted an article about Alaq, etc.
Al-Maliki and Abadi's decisions will be canceled and the governor of the Central Bank will be removed
12:30 - 16/11/20180 Link

Baxter  thx Chattels... looks like it may be true then..

chattels  Baxter Someting seems " amuck ". There has been much ado regarding the damaged 7 million dollars worth of dinar and Alaq's name on the new notes.

sandyf According to the IMF the Iraqi currency is classified as a conventional peg to the USD. This is their definition of
conventional peg.

Conventional peg - Classification as a conventional peg involves the confirmation of the country authorities de jure exchange rate arrangement. For this category the country formally (de jure) pegs its currency at a fixed rate to another currency or basket of currencies, where the basket is formed, for example, from the currencies of major trading or financial partners and weights reflect the geographic distribution of trade, services, or capital flows.
The anchor currency or basket weights are public or notified to the IMF. The country authorities stand ready to maintain the fixed parity through direct intervention (that is, via sale or purchase of foreign exchange in the market) or indirect intervention (for example, via exchange rate related use of interest rate policy, imposition of foreign exchange regulations, exercise of moral suasion that constrains foreign exchange activity, or intervention by other public institutions). There is no commitment to irrevocably keep the parity, but the formal arrangement must be confirmed empirically: the exchange rate may fluctuate within narrow margins of less than 1 percent around a central rate or the maximum and minimum value of the spot market exchange rate must remain within a narrow margin of 2 percent for at least six months. ANNUAL REPORT ON EXCHANGE ARRANGEMENTS AND EXCHANGE RESTRICTIONS 2017

chattels  BAGHDAD / The House of Representatives decided to hold its regular session next Monday instead of Tuesday.

The Director-General of the Parliamentary Service said that "the date of the hearing was on the occasion of the birth of the great Prophet (r) on Tuesday 20/11, and the session will be presented to Monday, 19/11 at one o'clock."


15 Nov 18, 03:38 AM chattels  Iraq, according to Transparency International, is the 12th most corrupt country in the world.

The embezzlement of public goods from land to government funds is a deeply rooted problem in a country with such a large public sector.

Corruption, shell companies and "phantom" public employees who receive salaries but do not work have cost Iraq the equivalent of $228 billion dollars since 2003, according to Iraq's parliament.

That figure is more than the country's gross domestic product and nearly three times the annual budget.

ERBIL, Kurdistan Region Baghdad and Erbil are under intense pressure to strike a deal to export Kirkuks oil through the Kurdistan Regional Governments (KRG) pipeline, an issue that strikes at the heart of many problems between Erbil and Baghdad.
The legality issue is currently before the Iraqi Supreme Court, though the six-year-old lawsuit has again been delayed. The court ruled on Wednesday to postpone a hearing until December 9 after experts examining the matter failed to produce a unified report.
Baghdad is resistant to go ahead with this move because that would boost the legitimacy of the KRG position, said Wahab.

I think what Baghdad wants is for this to be a part, or at least a beginning of a more comprehensive agreement with the KRG rather than just a narrow focus on Kirkuk, he said.

So the question here is, will a deal on Kirkuk be just a tactical deal and therefore short-term and short-lived, as happened in the past when we had about a dozen gentlemens handshakes between the KRG and Baghdad over exports and every time they break apart because the balance of power or the dynamics on the ground change. Or will this pressure actually create incentives to resolve the larger questions of revenue sharing and the legality of the oil and gas industry.

I think it could go either way, but the opportunity is definitely there for a more comprehensive understanding by KRG and Baghdad.
Iraqi High Federal Court delays ruling on whether Kurdish Regional Government can directly export oil.
Iraqi PM Abdel-Mahdi orders security forces to rapidly address deteriorating security situation caused by ISIS cells.

Iraq, Fatah Coalition hints that it might be willing to replace Falih Fayyadh as its nominee for Interior Minister if he faces significant opposition in Parliament.

Iraqi political sources say Salim al-Jabouri, former Speaker of Parliament, to be nominee for Defense Minister & to be voted on by Parliament. Interior Minister position to remain open due to disagreement between Shia coalitions.

The defense ministry is a Sunni position and may be resolved now. The Minister of the Interior is a Shia position and the internal conflict appears to be continuing.


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 
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.

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.
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.

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:

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:

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:

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

Read more:

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:

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.


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.


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


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

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
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.


3 Nov 18, 12:27 AM chattels  Water shortages, disease kill off thousands of fish in Babylon By Rudaw

"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.


1 Nov 18, 09:25 PM chattels  Iraq coming out of cycle of violence: UN By Rudaw

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.

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


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.

Posted by Iraqi Thoughts | Oct 30, 2018 |
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


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:

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.

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

Read more:

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:

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:


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

Abdul-Mahdi: We will finish soon to complete the cabinet and there are no problems
Release Date: 2018/10/25 17:20
Iraqi oil export revenues in September close to 8 billion dollars

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.
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

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].
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
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.

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

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.

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.

Vote(s) of confidence to be taken at 6:00 on Wednesday according to one report.
Wednesday is the 24th, Mahdi's target date.
Planning: A slight rise in the monthly and annual inflation rate during the month of September

Expert: Iraq vulnerable to major security breach

Hamdi Malik October 20, 2018

Read more:
Iraq's major Dawa Party rethinks course after electoral fumble

Omar Sattar October 20, 2018

Read more:

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

larrykn  Sadrs coalition says new cabinet lineup should be unveiled by Thursday

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