Update on the Reforms
We know that parliament was supposed to vote on the National Guard law last Saturday. Then we heard it was postponed indefinitely. We wondered why and when they would continue the voting process.
Well today we finally have word form Iraq as they are telling us in the article below why the law was stalled and when they expect to resolve the differences.
We know that parliament was supposed to vote on the National Guard law last Saturday. Then we heard it was postponed indefinitely. We wondered why and when they would continue the voting process.
Well today we finally have word form Iraq as they are telling us in the article below why the law was stalled and when they expect to resolve the differences.
By the way I can hardly believe what I was hearing on an intel conference call just yesterday. The intel “guru” was actually telling everyone this law was passed weeks ago. Do you believe this nonsense? Why would they have 2 article then today alone on this topic if it was already settled and the law passed in parliament. Maybe this guru is confused when his “secret’ sources from Iraq tells him that the law is passed by the council of ministers. Does he not realize there is a separation of powers in the new democracy of Iraq and thus one legislative body writes the laws, another reviews them and votes, then another has to ratify it by the president as the final step to become a law?
Looks like we have to wait until session on Monday 9/7 of next week for a vote.
So lastly in this section I present you with an article about the Investment law. They are telling us it is not yet passed. There are new much needed amendments to the law that ensures the rights of all people and aims to promote and stimulate economic and human resources in Iraq. The pressure is on and there are other programs going forward that need this law in place. We were told we would see it in yesteday’s session so I guess it was not included so they are complaining about it. That is the basis for this article. It is PRESSURE for parliament to get off their –sses and get it done. Pardon my French….lol….
Article Follows
NATIONAL DIFFERENCES AND FORCES "DISRUPTED" PASS GUARD: HIRE AND FIRE COMMANDER, HOWEVER ABADI
Political Since 01.09.2015 at 12:35 (GMT Baghdad)
Special - scales News
He said a member of the parliamentary legal committee Salim Chawki, Tuesday, that the current period by agreeing to sponsor the National Guard pass the law in the coming sessions, indicating that the differences in views between the National Alliance and the Union of Forces blocked a vote on the law.
He said Shawki's / scales News / "The National Guard Law within the political document was supposed to begin during this period of time but the divergence of views between the National Alliance and the Union of Forces hampered legislation on the law," stressing that "it was agreed to be National Guard "federal" and that is to hire and fire the commander of the National Guard, however, the Commander in Chief of the Armed Forces Haider al-Abadi "exclusively" to be approved in the Council of Ministers and the House of Representatives. "
He said the legal committee of parliamentary member, said "belonging" to the National Guard is the reason for the dispute where the powers that be Egypt Union to be the National Guard of the same conservative and may be from another province, stressing that "the National Alliance agreed to be the guard of the same conservative but leadership the province must be only "federal" and that's what the last vote on the law. "
Shawky said that "this period sponsor agreement to pass the law in the next session," noting that "the law will be applied on the popular crowd and clans that fought with the armed forces against terrorism, which includes the Awakening of each provinces except for the Kurdistan region."
It is said that "MP for the coalition of state law Rubaie threatened to reject the National Guard law and return it to the government if not carried out the needs of the popular crowd," and accused the government of "implicate" the House of Representatives the draft law. "
The "House of Representatives to postpone the discussion of the bill to the National Guard on Monday of next week,"
Article Ends
Article Begins
ACTIVATION OF THE NATIONAL ECONOMY TO REDUCE UNEMPLOYMENT IN IRAQ DISCUSSED
http://ift.tt/1hAGirp
Shafaq News / The board member of the Presidency of the Parliament , Humam Hamoudi stressed the need for the completion of the Investment Law and its approval
as soon as possible for its importance in the activation of the national economy, as well as its contribution to reduce unemployment.
Hamoudi presided over a meeting with the economic and investment commission in Parliament discussed in the presence of Chairman of the board of investment , Sami al-Araji, the new amendments to the law to reach a law that ensures the rights of all people and aims to promote and stimulate economic and human resources in Iraq.
Article Ends
Article Begins
SHEIKH D. HAMOUDI LOOKING INVESTMENT LAW STRESSES TO EXPEDITE ITS APPROVAL IN SUPPORT OF THE COUNTRY'S ECONOMY AND REDUCE UNEMPLOYMENT
01 September 0.2015
Presided over a meeting of the Committee of Economy ..heik d. Hamoudi looking Investment Law stresses to expedite its approval in support of the country's economy and reduce unemployment.
He stressed member of the board of the Presidency of the Council of Representatives, Sheikh Hamoudi, the need for the completion of the Investment Law and approval as soon as the activation of its importance in the national economy and promote development wheel, as well as its contribution to reducing unemployment.
Search and Sheikh d. Hamoudi presided over the meeting with the economic and investment commission in Parliament, in the presence of Chairman of the board of investment d. Sami al-Araji, the new amendments to the law to break the law ensures the rights of all sober and aims to promote and stimulate economic and human resources in Iraq.
Article Ends
Update: Economic Reforms - Bonds
I can see there is lots of confusion about these darn bonds. So let me clarify it for you.
Next I want to emphasize once again these sovereign bonds (as they mention in the article below) are the INTERNATIONAL bonds and not the bonds Iraq has just launched as NATIONAL and for the citizens exclusively. BIG difference and I need to emphasize this for a reason. The in country bonds or NATIONAL bonds are designed to take in the 3 zero notes for payment to buy the bonds and payout using USD on the bond premiums.
Why are they doing these two different bond drives?
One bond drive (International) is solely to raise capital for Iraq but do it after a revaluation of the currency value, an investment for global investors, and the other is purely to raise funds for the debt and another devise to bring in yet more of the 3 zero notes from circulation in country.
Do you see the difference and why they are doing both of them? Let’s not confuse them. This is very important and you will see why as we see this issue progress in future news letters. Stay tuned.
I talked about both of these bonds in a recent news letters. Iraq knows they can not issue these Sovereign bonds with a very low, almost worthless currency. Not to mention the newly issued credit rating of only a group ‘B’, but as usual they may find away and try once again.
Article Begins
IRAQ DISPLAYS SOVEREIGN BONDS FOR SALE
2/9/2015 0:00
BAGHDAD Alaa al-Tai
Scheduled to travel a senior government delegation, including ministers, officials and experts in the financial and economic affairs, next week, to the United States and Britain to discuss the issue of Iraq sovereign bonds, and to explain the ability of the country to fulfill its obligations to investors who Septaon those bonds and Atdaolunha in markets Alaalmih.ocd high-level government source, who preferred anonymity, said in an interview singled out the "morning" that a government delegation will travel next Monday, accompanied by a credit rating talks team, to the United States and the UK to clarify Iraq's ability to fulfill its obligations to investors who Septaon Sindh Iraqi and international promotion, in a move that serve the welfare of economic reform measures and to maximize state revenues.
The source said, "The delegation will include government and finance ministers, oil and Governor of the Central Bank and the consultants and experts in economic and financial Shan officials to discuss the process of issuing sovereign government bonds in the global financial market."
The source noted, that the Iraqi government delegation held talks in Turkey during last June in order to promote Sovereign bonds to be issued by Iraq, stressing that the delegation held meetings with representatives of international banks also reviewed the financial and economic, political and security of Iraq report.
The source said that the talks with my company has a credit rating and the International Tribunals "Modiner and Fitch" in order to determine the credit rating of Iraq in the international capital market, also held talks with British companies rating and contacts to get a credit rating. The source indicated that Iraq's current credit rating within the group (B), noting that the delegation will explain the possibilities and Iraq's oil export.
http://ift.tt/1hSKfbU
Article Ends
Looks like we have to wait until session on Monday 9/7 of next week for a vote.
So lastly in this section I present you with an article about the Investment law. They are telling us it is not yet passed. There are new much needed amendments to the law that ensures the rights of all people and aims to promote and stimulate economic and human resources in Iraq. The pressure is on and there are other programs going forward that need this law in place. We were told we would see it in yesteday’s session so I guess it was not included so they are complaining about it. That is the basis for this article. It is PRESSURE for parliament to get off their –sses and get it done. Pardon my French….lol….
Article Follows
NATIONAL DIFFERENCES AND FORCES "DISRUPTED" PASS GUARD: HIRE AND FIRE COMMANDER, HOWEVER ABADI
Political Since 01.09.2015 at 12:35 (GMT Baghdad)
Special - scales News
He said a member of the parliamentary legal committee Salim Chawki, Tuesday, that the current period by agreeing to sponsor the National Guard pass the law in the coming sessions, indicating that the differences in views between the National Alliance and the Union of Forces blocked a vote on the law.
He said Shawki's / scales News / "The National Guard Law within the political document was supposed to begin during this period of time but the divergence of views between the National Alliance and the Union of Forces hampered legislation on the law," stressing that "it was agreed to be National Guard "federal" and that is to hire and fire the commander of the National Guard, however, the Commander in Chief of the Armed Forces Haider al-Abadi "exclusively" to be approved in the Council of Ministers and the House of Representatives. "
He said the legal committee of parliamentary member, said "belonging" to the National Guard is the reason for the dispute where the powers that be Egypt Union to be the National Guard of the same conservative and may be from another province, stressing that "the National Alliance agreed to be the guard of the same conservative but leadership the province must be only "federal" and that's what the last vote on the law. "
Shawky said that "this period sponsor agreement to pass the law in the next session," noting that "the law will be applied on the popular crowd and clans that fought with the armed forces against terrorism, which includes the Awakening of each provinces except for the Kurdistan region."
It is said that "MP for the coalition of state law Rubaie threatened to reject the National Guard law and return it to the government if not carried out the needs of the popular crowd," and accused the government of "implicate" the House of Representatives the draft law. "
The "House of Representatives to postpone the discussion of the bill to the National Guard on Monday of next week,"
Article Ends
Article Begins
ACTIVATION OF THE NATIONAL ECONOMY TO REDUCE UNEMPLOYMENT IN IRAQ DISCUSSED
http://ift.tt/1hAGirp
Shafaq News / The board member of the Presidency of the Parliament , Humam Hamoudi stressed the need for the completion of the Investment Law and its approval
as soon as possible for its importance in the activation of the national economy, as well as its contribution to reduce unemployment.
Hamoudi presided over a meeting with the economic and investment commission in Parliament discussed in the presence of Chairman of the board of investment , Sami al-Araji, the new amendments to the law to reach a law that ensures the rights of all people and aims to promote and stimulate economic and human resources in Iraq.
Article Ends
Article Begins
SHEIKH D. HAMOUDI LOOKING INVESTMENT LAW STRESSES TO EXPEDITE ITS APPROVAL IN SUPPORT OF THE COUNTRY'S ECONOMY AND REDUCE UNEMPLOYMENT
01 September 0.2015
Presided over a meeting of the Committee of Economy ..heik d. Hamoudi looking Investment Law stresses to expedite its approval in support of the country's economy and reduce unemployment.
He stressed member of the board of the Presidency of the Council of Representatives, Sheikh Hamoudi, the need for the completion of the Investment Law and approval as soon as the activation of its importance in the national economy and promote development wheel, as well as its contribution to reducing unemployment.
Search and Sheikh d. Hamoudi presided over the meeting with the economic and investment commission in Parliament, in the presence of Chairman of the board of investment d. Sami al-Araji, the new amendments to the law to break the law ensures the rights of all sober and aims to promote and stimulate economic and human resources in Iraq.
Article Ends
Update: Economic Reforms - Bonds
I can see there is lots of confusion about these darn bonds. So let me clarify it for you.
Next I want to emphasize once again these sovereign bonds (as they mention in the article below) are the INTERNATIONAL bonds and not the bonds Iraq has just launched as NATIONAL and for the citizens exclusively. BIG difference and I need to emphasize this for a reason. The in country bonds or NATIONAL bonds are designed to take in the 3 zero notes for payment to buy the bonds and payout using USD on the bond premiums.
Why are they doing these two different bond drives?
One bond drive (International) is solely to raise capital for Iraq but do it after a revaluation of the currency value, an investment for global investors, and the other is purely to raise funds for the debt and another devise to bring in yet more of the 3 zero notes from circulation in country.
Do you see the difference and why they are doing both of them? Let’s not confuse them. This is very important and you will see why as we see this issue progress in future news letters. Stay tuned.
I talked about both of these bonds in a recent news letters. Iraq knows they can not issue these Sovereign bonds with a very low, almost worthless currency. Not to mention the newly issued credit rating of only a group ‘B’, but as usual they may find away and try once again.
Article Begins
IRAQ DISPLAYS SOVEREIGN BONDS FOR SALE
2/9/2015 0:00
BAGHDAD Alaa al-Tai
Scheduled to travel a senior government delegation, including ministers, officials and experts in the financial and economic affairs, next week, to the United States and Britain to discuss the issue of Iraq sovereign bonds, and to explain the ability of the country to fulfill its obligations to investors who Septaon those bonds and Atdaolunha in markets Alaalmih.ocd high-level government source, who preferred anonymity, said in an interview singled out the "morning" that a government delegation will travel next Monday, accompanied by a credit rating talks team, to the United States and the UK to clarify Iraq's ability to fulfill its obligations to investors who Septaon Sindh Iraqi and international promotion, in a move that serve the welfare of economic reform measures and to maximize state revenues.
The source said, "The delegation will include government and finance ministers, oil and Governor of the Central Bank and the consultants and experts in economic and financial Shan officials to discuss the process of issuing sovereign government bonds in the global financial market."
The source noted, that the Iraqi government delegation held talks in Turkey during last June in order to promote Sovereign bonds to be issued by Iraq, stressing that the delegation held meetings with representatives of international banks also reviewed the financial and economic, political and security of Iraq report.
The source said that the talks with my company has a credit rating and the International Tribunals "Modiner and Fitch" in order to determine the credit rating of Iraq in the international capital market, also held talks with British companies rating and contacts to get a credit rating. The source indicated that Iraq's current credit rating within the group (B), noting that the delegation will explain the possibilities and Iraq's oil export.
http://ift.tt/1hSKfbU
Article Ends
Article Begins
IRAQ POISED TO MEET INVESTORS AHEAD OF CRUCIAL BOND SALE
BY MICHAEL TURNER
LONDON, Sept 2 (IFR) - Iraq plans to begin marketing a new Eurobond (or sovereign bonds) following the Labor Day holiday in the U.S., according to several sources, as the sovereign hopes to issue in the capital markets for the first time in nearly a decade.
Representatives from the country are expected to meet investors across the U.S. and Europe ahead of the deal, which is likely to be unsecured.
Citigroup, Deutsche Bank and JP Morgan will be the lead managers, the sources said.
The U.S. Labor Day holiday is on Sept. 7.
The sovereign is seeking to raise up to US$6 billion through bond sales to relieve the pressure of low oil prices on state finances, though sources indicate this first deal will be much smaller.
Last month Iraq received its first international credit rating after Fitch assigned a B- rating with a stable outlook, six notches below investment-grade.
In its assessment Fitch cited political risks and insecurity that are among the highest faced by any sovereign rated by the agency.
Iraq last issued an international bond in January 2006. That US$2.66 billion 5.80 percent deal matures in January 2028. The note is trading at a cash price of 75.50, according to Thomson Reuters, to yield 10.23 percent.
http://ift.tt/1hAGirr
Article Ends
Till next time…. Auf Wiedersehen!
Peace and Luv To Ya All,
Mnt Goat
IRAQ POISED TO MEET INVESTORS AHEAD OF CRUCIAL BOND SALE
BY MICHAEL TURNER
LONDON, Sept 2 (IFR) - Iraq plans to begin marketing a new Eurobond (or sovereign bonds) following the Labor Day holiday in the U.S., according to several sources, as the sovereign hopes to issue in the capital markets for the first time in nearly a decade.
Representatives from the country are expected to meet investors across the U.S. and Europe ahead of the deal, which is likely to be unsecured.
Citigroup, Deutsche Bank and JP Morgan will be the lead managers, the sources said.
The U.S. Labor Day holiday is on Sept. 7.
The sovereign is seeking to raise up to US$6 billion through bond sales to relieve the pressure of low oil prices on state finances, though sources indicate this first deal will be much smaller.
Last month Iraq received its first international credit rating after Fitch assigned a B- rating with a stable outlook, six notches below investment-grade.
In its assessment Fitch cited political risks and insecurity that are among the highest faced by any sovereign rated by the agency.
Iraq last issued an international bond in January 2006. That US$2.66 billion 5.80 percent deal matures in January 2028. The note is trading at a cash price of 75.50, according to Thomson Reuters, to yield 10.23 percent.
http://ift.tt/1hAGirr
Article Ends
Till next time…. Auf Wiedersehen!
Peace and Luv To Ya All,
Mnt Goat
via Dinar Recaps - Our Blog http://ift.tt/1hAGiri
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