Post From Wealthwatch.world Chat Room 10-21-15
Wealthwatch Wednesday Member Chat 10-21-15 Part 2 of 2
chattels: According to the Erbil-Baghdad 2015 budget agreement, Baghdad must provide the KRG $10 billion, but only $2 billion dollars has been sent to Erbil so far this year, according to Dizayee. The Kurdistan region sells on average 600,000 barrels of oil per day (bpd), according to Dizayee.
chattels: The Iraqi government held an extraordinary session on Sunday passing the Iraqi budget bill for 2016 with a budget of $91 billion and a deficit of almost $23 billion.
In the bill, the Kurdistan region’s 17 percent budget share has been approved on condition the KRG should export 550,000 bpd though SOMO to the world market, according to a statement by the Iraqi government following the session.
~~~
Wealthwatch Wednesday Member Chat 10-21-15 Part 2 of 2
chattels: According to the Erbil-Baghdad 2015 budget agreement, Baghdad must provide the KRG $10 billion, but only $2 billion dollars has been sent to Erbil so far this year, according to Dizayee. The Kurdistan region sells on average 600,000 barrels of oil per day (bpd), according to Dizayee.
chattels: The Iraqi government held an extraordinary session on Sunday passing the Iraqi budget bill for 2016 with a budget of $91 billion and a deficit of almost $23 billion.
In the bill, the Kurdistan region’s 17 percent budget share has been approved on condition the KRG should export 550,000 bpd though SOMO to the world market, according to a statement by the Iraqi government following the session.
~~~
BOBBY: Chattels. ....... did you happen to catch the post on recaps ....... entitled are conditions conductive for an rv?
chattels: Sounds like a repeat of the 2015 budget agreement
chattels: ‹@BOBBY› No sir, just getting home and been covered up with work today
chattels: ‹@BOBBY› I will look now
BOBBY: Chattels. .... its a 4 part post....... let me know what you think........ surprised they printed it
chattels: " no central authority “decides” the value of the currency. There are open markets where the currency is allowed to trade and the value of the currency is whatever is decided by these markets."
chattels: " with the collapse of global oil prices and the cost of fighting ISIL having significant detrimental effects of a deficit balance of trade and a huge deficit in the Iraq government’s budget, we are increasingly of late getting comments that a devaluation of the IQD is being considered "
chattels: " This is the exact situation we have seen in-country, where the Street Rate of the IQD is significantly worse than the international rate being defended by the CBI. There cannot long exist a great disparity between in-country street rates and international official exchange rates. "
chattels: " the international rate being defended by the CBI. " = a cost to the CBI / Iraq and drain upon it's reserves, IMO
chattels: “The combination of the ISIS insurgency and low oil prices are producing an economic shock unprecedented in Iraq’s troubled history. The ongoing conflict will require a sharp rise in security expenditures at the same time that government oil export revenues are collapsing,
forcing the government into deficit spending. This deficit spending, combined with a loss in reserves from the Central Bank of Iraq, calls into question the much-vaunted stability of the Iraqi dinar.
chattels: recent data from the International Monetary Fund support the view that Iraq’s fiscal and monetary situation is deteriorating. At the same time that oil export earnings are declining, GoI security-related dollar imports have increased dramatically.
One effect has been on fiscal reserves held at the DFI, which have fallen from almost $18 billion at the end of 2012, and $6.5 billion at the end of 2013, to about $4 billion at the end of November 2014 (IMF Press Release 14/560, 9 December 2014).
Equally worrisome is the drop in the country’s international reserves. From $77 billion at the end of 2013, the international reserves held by the CBI fell to about $67 billion at the end of November 2014. This is only the second year-over-year fall in international reserves in the last decade.
chattels: Excellent analysis, IMO
BOBBY: Chattels. .... was surprised they printed it
chattels: ‹@BOBBY› Very sobering
BOBBY: Chattels. .... not exactly the any day now posting
chattels: ‹@BOBBY› I take some satisfaction in noting that the current conditions are centered upon issues that we have trumpeted for some time in this chat room and news forum. Am i wrong ?
chattels: ‹@BOBBY› I take some satisfaction in noting that the current conditions are centered upon issues that we have trumpeted for some time in this chat room and news forum. Am i wrong ?
BOBBY: Chattels. ..... i prefer to see it as looking past the nonsense........ what this site is all about
BOBBY: The news / issues speak for themselves
BOBBY: no amount of fustration can change that
chattels: Official: Peshmerga to take part in battle for Mosul By RUDAW
chattels: ERBIL, Kurdistan Region — A high-ranking Peshmerga official declared Wednesday that the Peshmerga will take part in an anticipated battle for Mosul. “Mosul is the heart of ISIS and it must be taken out,” Jabar Yawar, the chief of staff of the Peshmerga ministry, told Rudaw, saying that the Peshmerga are ready to fight alongside the coalition to push ISIS out of Mosul.
Yawar claimed that “the Kurdistan region has shown its willingness and will participate in the battle for Mosul.” “The liberation of Mosul will have a significant impact for the security of Kurdistan and is also in the interest of the whole Iraq,” he continued.
Without Baghdad, the Kurdistan region will not unilaterally wage war against ISIS in Mosul, therefore “the Kurdistan region will have an agreement with Baghdad on how to launch the assault, and the Peshmerga will coordinate the details of military plans alongside the US-led coalition, tribal militants and Iraqi joint forces,” Yawar explained.
He also rejected claims that the Peshmerga will join the battle for Hawija. “We have no plan to fight ISIS in Hawija, because they are far away from our borders and we have no mutual interests with any party to take part in possible attacks on ISIS in Hawija,” he concluded.
chattels: http://ift.tt/1dh0hsK...
http://ift.tt/1GixfHp
chattels: On Tuesday, Raed Jabouri, the current governor of Salahadin province, announced that Iraqi forces backed by the Shiite Hashd al-Shaabi militia succeeded in recapturing the town of Baiji and the Albu Jawar area from ISIS.
The Shiite militia also claimed that its forces were cleaning up roads in the area of ISIS landmines. The government has claimed victory in Baiji several times in the past months, but the reports have been unfounded. ISIS suicide attacks have halted the advances of Iraqi forces, according to reports.
Baiji, located in Salahadin province and roughly 210 kilometers from Baghdad, fell to ISIS in 2014. chattels: http://ift.tt/1Ny5Ort...
http://ift.tt/1W5kcjp
chattels: The government has claimed victory in Baiji several times in the past months, but the reports have been unfounded.
chattels: Washington DC—The United States considers Masoud Barzani the legitimate President of the Kurdistan Region while discussions continue among Kurdish parties to resolve the issue of the region’s presidency, State Department said Tuesday, answering Rudaw's Namo Abdulla.
“While these discussions are ongoing, he [Barzani] is still fulfilling that role and so we – he is considered to be the president while this is ongoing,” said State Department Spokesperson John Kirby in a daily briefing. “But ultimately, these are decisions that Kurdish politicians have to work through,” he added.
chattels: http://ift.tt/1dh0hsK...
http://ift.tt/1kozRcD
tourman: have you had the opportunity to read the 4 part dissertation laid out by " Oldwazhisname " on Dinarrecaps?
chattels: ‹@tourman› Yes sir.
chattels: I commented upon it earlier in the chat. Maybe 20 minutes ago.
tourman: I just go home. will go look at you comments. I found in long winded, but informative to a certain degree
chattels: Can Iraq meet US, Russia halfway? The conflicts in Iraq and Syria are becoming increasingly convoluted by the day. Russia's engagement has been an additional complication to the overlapping battles. Read more: http://ift.tt/1U6ADse...
http://ift.tt/1ZZ6Epg
chattels: Very good article.
tourman: The analysis was spot on as far as what I have thought for some time now. The economics of an outright RV maybe in the future and maybe farther out than we all have hoped.
chattels: Iraqi doctors plagued by threats, extortion BAGHDAD — Doctors in Iraq are fleeing threats on their lives and extortion attempts, adding even more danger to a country battling the Islamic State (IS).
In the news and on social media, pictures are surfacing of doctors' abandoned houses with death threats or demands for blood money scrawled on the walls and doors. Read more: http://ift.tt/1U6ADse...
http://ift.tt/1ZZ6CNZ
chattels: Sounds like a repeat of the 2015 budget agreement
chattels: ‹@BOBBY› No sir, just getting home and been covered up with work today
chattels: ‹@BOBBY› I will look now
BOBBY: Chattels. .... its a 4 part post....... let me know what you think........ surprised they printed it
chattels: " no central authority “decides” the value of the currency. There are open markets where the currency is allowed to trade and the value of the currency is whatever is decided by these markets."
chattels: " with the collapse of global oil prices and the cost of fighting ISIL having significant detrimental effects of a deficit balance of trade and a huge deficit in the Iraq government’s budget, we are increasingly of late getting comments that a devaluation of the IQD is being considered "
chattels: " This is the exact situation we have seen in-country, where the Street Rate of the IQD is significantly worse than the international rate being defended by the CBI. There cannot long exist a great disparity between in-country street rates and international official exchange rates. "
chattels: " the international rate being defended by the CBI. " = a cost to the CBI / Iraq and drain upon it's reserves, IMO
chattels: “The combination of the ISIS insurgency and low oil prices are producing an economic shock unprecedented in Iraq’s troubled history. The ongoing conflict will require a sharp rise in security expenditures at the same time that government oil export revenues are collapsing,
forcing the government into deficit spending. This deficit spending, combined with a loss in reserves from the Central Bank of Iraq, calls into question the much-vaunted stability of the Iraqi dinar.
chattels: recent data from the International Monetary Fund support the view that Iraq’s fiscal and monetary situation is deteriorating. At the same time that oil export earnings are declining, GoI security-related dollar imports have increased dramatically.
One effect has been on fiscal reserves held at the DFI, which have fallen from almost $18 billion at the end of 2012, and $6.5 billion at the end of 2013, to about $4 billion at the end of November 2014 (IMF Press Release 14/560, 9 December 2014).
Equally worrisome is the drop in the country’s international reserves. From $77 billion at the end of 2013, the international reserves held by the CBI fell to about $67 billion at the end of November 2014. This is only the second year-over-year fall in international reserves in the last decade.
chattels: Excellent analysis, IMO
BOBBY: Chattels. .... was surprised they printed it
chattels: ‹@BOBBY› Very sobering
BOBBY: Chattels. .... not exactly the any day now posting
chattels: ‹@BOBBY› I take some satisfaction in noting that the current conditions are centered upon issues that we have trumpeted for some time in this chat room and news forum. Am i wrong ?
chattels: ‹@BOBBY› I take some satisfaction in noting that the current conditions are centered upon issues that we have trumpeted for some time in this chat room and news forum. Am i wrong ?
BOBBY: Chattels. ..... i prefer to see it as looking past the nonsense........ what this site is all about
BOBBY: The news / issues speak for themselves
BOBBY: no amount of fustration can change that
chattels: Official: Peshmerga to take part in battle for Mosul By RUDAW
chattels: ERBIL, Kurdistan Region — A high-ranking Peshmerga official declared Wednesday that the Peshmerga will take part in an anticipated battle for Mosul. “Mosul is the heart of ISIS and it must be taken out,” Jabar Yawar, the chief of staff of the Peshmerga ministry, told Rudaw, saying that the Peshmerga are ready to fight alongside the coalition to push ISIS out of Mosul.
Yawar claimed that “the Kurdistan region has shown its willingness and will participate in the battle for Mosul.” “The liberation of Mosul will have a significant impact for the security of Kurdistan and is also in the interest of the whole Iraq,” he continued.
Without Baghdad, the Kurdistan region will not unilaterally wage war against ISIS in Mosul, therefore “the Kurdistan region will have an agreement with Baghdad on how to launch the assault, and the Peshmerga will coordinate the details of military plans alongside the US-led coalition, tribal militants and Iraqi joint forces,” Yawar explained.
He also rejected claims that the Peshmerga will join the battle for Hawija. “We have no plan to fight ISIS in Hawija, because they are far away from our borders and we have no mutual interests with any party to take part in possible attacks on ISIS in Hawija,” he concluded.
chattels: http://ift.tt/1dh0hsK...
http://ift.tt/1GixfHp
chattels: On Tuesday, Raed Jabouri, the current governor of Salahadin province, announced that Iraqi forces backed by the Shiite Hashd al-Shaabi militia succeeded in recapturing the town of Baiji and the Albu Jawar area from ISIS.
The Shiite militia also claimed that its forces were cleaning up roads in the area of ISIS landmines. The government has claimed victory in Baiji several times in the past months, but the reports have been unfounded. ISIS suicide attacks have halted the advances of Iraqi forces, according to reports.
Baiji, located in Salahadin province and roughly 210 kilometers from Baghdad, fell to ISIS in 2014. chattels: http://ift.tt/1Ny5Ort...
http://ift.tt/1W5kcjp
chattels: The government has claimed victory in Baiji several times in the past months, but the reports have been unfounded.
chattels: Washington DC—The United States considers Masoud Barzani the legitimate President of the Kurdistan Region while discussions continue among Kurdish parties to resolve the issue of the region’s presidency, State Department said Tuesday, answering Rudaw's Namo Abdulla.
“While these discussions are ongoing, he [Barzani] is still fulfilling that role and so we – he is considered to be the president while this is ongoing,” said State Department Spokesperson John Kirby in a daily briefing. “But ultimately, these are decisions that Kurdish politicians have to work through,” he added.
chattels: http://ift.tt/1dh0hsK...
http://ift.tt/1kozRcD
tourman: have you had the opportunity to read the 4 part dissertation laid out by " Oldwazhisname " on Dinarrecaps?
chattels: ‹@tourman› Yes sir.
chattels: I commented upon it earlier in the chat. Maybe 20 minutes ago.
tourman: I just go home. will go look at you comments. I found in long winded, but informative to a certain degree
chattels: Can Iraq meet US, Russia halfway? The conflicts in Iraq and Syria are becoming increasingly convoluted by the day. Russia's engagement has been an additional complication to the overlapping battles. Read more: http://ift.tt/1U6ADse...
http://ift.tt/1ZZ6Epg
chattels: Very good article.
tourman: The analysis was spot on as far as what I have thought for some time now. The economics of an outright RV maybe in the future and maybe farther out than we all have hoped.
chattels: Iraqi doctors plagued by threats, extortion BAGHDAD — Doctors in Iraq are fleeing threats on their lives and extortion attempts, adding even more danger to a country battling the Islamic State (IS).
In the news and on social media, pictures are surfacing of doctors' abandoned houses with death threats or demands for blood money scrawled on the walls and doors. Read more: http://ift.tt/1U6ADse...
http://ift.tt/1ZZ6CNZ
chattels: ‹@tourman› You and I have been " on the same page " for some time now I think.
tourman: I will keep my day job a few more months me thinks
chattels: ‹@tourman› no retirement for me in the near term it appears
chattels: Iraq's failing construction projects BAGHDAD — Since the fall of Saddam Hussein's regime following the US-led invasion of Iraq in 2003, there have been hundreds of failed and delayed construction and development projects in the country.
A few months after it was built, the wall of the Imam Al-Hadi elementary school in Husseiniya, in northern Baghdad, collapsed on the night of Feb. 27; in November 2014, the local government in Babil withdrew the al-Tahmaziya street pavement project in southern Hilla from the contracting firm due to delays in the project’s implementation;
and the local government of Dhi Qar province, 375 kilometers (217.5 miles) south of Baghdad, took away the licenses of 50 companies to delay the implementation of projects. Read more: http://ift.tt/1U6ADse...
http://ift.tt/1ZZ6CO1
tourman: i pray my wet duve attitude is wrong :w00t: :sad:
chattels: Photo of Bismayah ( incomplete ) that many hailed as the proof of Iraq's " silent success " and the imminence of an " RV " just weeks ago
via Dinar Recaps - Our Blog http://ift.tt/1GVgrkq
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