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Monday, July 18, 2016

Dinar Updates Sunday PM  Chat 7-17-16   Part 2 of 3

​Post From Dinar Updates
Chat Room Excerpts & Highlights
 
Dinar Updates Sunday PM  Chat 7-17-16   Part 2 of 3
 
rcookie says():17-07-2016 03:24 PM "Details" held regular meeting of the House of Representatives after the vote on the law and an end to read the five laws
 
The House of Representatives to raise its regular Sunday to Monday.
 
According to a statement of the Department of Media parliament the 'House of Representatives voted in its regular third of the legislative term first third legislative year, headed by Salim al-President of the Council and in the presence of 236 deputies on Sunday, the law amending the law on the sale and lease of state property and ended the first reading of the five bills as well as discuss activating the work to amend the Constitution. '
 
At the outset of the meeting resulted in a comprehensive Mohammed Hussein Khip sworn deputies substitute for outgoing MP Hassan Sinead.
​~~~

Meanwhile, President al-Jubouri called the Legal Committee to submit a report on the legal status of the Electoral Commission and the Council to prepare for the next Commission.
 
The Presidency has decided to postpone the vote on the draft law of the General Authority to ensure the rights of the regions and governorates not organized in a region and sponsored by the committees of the regions and governorates not organized in a region and the legal to the next meeting.
 
Then the Council voted on a first draft amendment to the law the sale and rental of state funds No. 21 of 2013 and sponsored by the committees of economy, investment and finance for the purpose of avoiding gaps guaranteed by law on the sale and lease of state property No. 21 of 2013 and create the legal and accounting treatment for Maffersh Cancel Revolutionary Command Council resolution dissolved No. 136 for the year 1998 and to address what was produced by the practical applications of the law of the shortcomings.
 
The Board discussed the activation of work on the revision and amendment of the constitution at the request of his ultra MP Sheikh Ali signed by 72 deputies.
 
And accept al-Jubouri, the mechanisms that have been followed on the review of the constitution, including the establishment of parliamentary blocs in 2014 to submit their candidates for membership of the Special Committee to reconsider the constitution as part of the close political agreement,
 
noting that a review of names candidate is a return to the ladies and gentlemen members of the House of Representatives, calling on the blocks parliamentary wishing to submit names and membership of the Commission over the week to the presidency of the Council for the purpose of presentation and vote in the Council to be done to determine the numbers and times and the presidency later.
 
rcookie says():On the issue of lifting the immunity, Parliament Speaker detect the presence of nine requests to lift the immunity of MPs in the current session of the Council, pointing out that the three deputies submitted a request to lift the immunity from them in previous sessions and still retain their Bhsanthm as was presented six new requests to lift the immunity of deputies in the session current noting that 17 people were ex-MPs are no requests to lift the immunity of the measures taken against them now as citizens no longer enjoy parliamentary immunity.
 
President al-Jubouri and suggest referral to lift the immunity to the Committee on Legal Affairs and members of the Commission's requests to provide a detailed report or subjected Wholesale names to parliament for decision.
 
The Council voted to refer the desired file deputies lifted their immunity to the Legal Affairs Committees and members and make recommendations to the council within two weeks.
 
And on the absences of Representatives, House Speaker announced the existence of three deputies exceeded the legal limit of absence without official excuse, reviewing for replacing members of the House of Representatives of legal texts, including the termination of membership sack Lists to overcome the absences without a legitimate excuse third meetings of the Council held in the separation of legislative and one by counting sessions to be absences user without a legitimate excuse through the verification of documents.
 
In the interventions of Representatives, MP Abdul Rahman Alloizi pointed to the importance that displays any action on the House of Representatives, pointing to support the reform measures of the Council's work.
 
The MP Khalid al-Asadi on the importance of activating the application of disciplinary and punitive measures on the absences of Representatives.
 
For its part, expressed its support MP Hanan al severe ladies and gentlemen accounting absent from the House of Representatives sessions.
 
He noted MP Mohammad Kawa to the existence of some technical dilemmas in attendance recording device that could lead to record absences of some of the present House of Representatives.
 
And offered the Presidency of the Council three proposals in this regard first proposal includes taking presidency of the Council measure directly on the basis of the legal data and in accordance with the powers granted to the dismissal of deputies while the second proposal includes a display of names on the Council to take a decision in this regard with third proposal included referral Balcil to the committees of members of the affairs or the Commission legal to provide a detailed report to the council within two weeks for Gaabathm who exceeded the legal limit.
 
The Council voted to refer the case to the members of the committees and legal affairs to submit a report regarding the House of Representatives who Gaabathm exceeded the legal limit in two weeks.
 
In another matter, the House of Representatives ended the first reading of the draft second amendment to the law of the guards nightclubs Law No. 8 of 2008 and submitted by the committees of security and defense, financial and legal in order to determine who meets the rewards Aharras nightclubs of the second class.
 
rcookie says():The Board completed the first reading of the draft of the Supreme Judicial Council Act and sponsored by the Legal Committee in order to regulate the composition and terms of reference of the method and the rules of the functioning of the Supreme Judicial Council in line and developments in the constitutional, legal and judicial in Iraq area and to exercise his powers stipulated in the Constitution.
 
The Board completed the first reading of a bill incorporating the law and the abolition of ministries and submitted by the committees of higher education, health, environment, services and ages, culture, media, human rights and financial in order to achieve reform and reduce the slack administrative happening in state institutions and a reduction of expenses, but the abolition and merging with similar activities ministries.
 
For his part, the Speaker of Parliament specialized committees face to complete the search with the relevant ministries and hosting to prepare and submit a detailed report on the draft law.
 
On the other hand, the Council completed the first reading of the draft first amendment to the Uniform Code of retirement No. 9 Act of 2014 and provided financial and legal committees, which aims to give the Cabinet the authority to grant the employee assigned to the retirement pension rights exception of the age requirement, but equality Referred to retire before the law takes effect Bamahalin to retire after the entry into force and to adopt pension formula one for the calculation of pension rights.
 
It ended the first reading of the proposed abolition of dissolved Revolutionary Command Council Resolution No. 481 of 1989 and submitted by the legal, health and environment committees, which contribute to the preservation of medical staff to keep the medical personnel returning from outside the country after completing their studies and to supplement government health institutions law.
 
On the other hand, MP Ali al-Maliki as the Committee of Tourism and Antiquities of both the House of Representatives and the Council of Ministers to speed up action to address the Turkish side, which is kept in the UNESCO meetings to vote on the tray marshes of Iraq as part of the World Heritage list to retreat from his position.
 
In turn, al-Jubouri called Committees on Foreign Relations and the marshes and waters to intensify their contacts with the Turkish side in order to contribute to the success of the marshes insert a file within the World Heritage list.
 
It decided by the Presidency to postpone reading the report and discuss the draft National Commission for Informatics and submitted by the committees of services and reconstruction, higher education and scientific research, security, defense, culture and media, and report and discuss the draft informatics crimes and submitted by the committees and the defense of higher education and scientific and legal culture, media and human rights, services, and construction and research Security Act.
 
rcookie says():SLACKERS!!!.......
 
Baxter says():So... where is the Investment Law??
 
david334 says to rcookie():Hi rcookie the IMF Iraqi representive said no devaluation commited to maintaining the peg to the US $ . Is that signicant in anyway?
 
david334 says to rcookie():probably not.
 
rcookie says():WHAT ARE YOU TALKING ABOUT.....WHERE IS IT.....
 
david334 says to rcookie():It was in Dinar Detectives from XXX and it was a quote.
 
rcookie says():CLULESS
rcookie says():CLUELESS
rcookie says():JUST NOW CATCHING ON TO LOI AND STILL NOT A CLIE WHAT THEY ARE SEEING OR HOW IT RELATES...
 
rcookie says():BEEN ON EVERY LOI SINCE 2011....LOL
 
david334 says():it was assumed for the last decade . I thought so.
 
rcookie says():WHAT IS MEANT BY WHERE IS INVESTMENT LAW.....
 
Dr Dave says():awaiting final reading and vote with all the other stalled laws?
 
graci says to rcookie():think he meant where is it as in voting on it
 
rcookie says():INVESTMENT LAW WAS PASSED LONG BEFORE WAS INITIATIVE IN LOI.....AND WILL NOW BE AMENDED TO REFLECT IMPROVEMENTS RESULTING FROM CASE STUDIES DONE ON FOREIGN INVESTORS AND BUSINESS AS TO IMPROVEMENTS AND STREAMLINING OF IRAQS ENTIRE SYSTEM...
 
rcookie says to david334():18. The government will maintain the peg with the U.S. dollar. The peg provides a key nominal anchor in a highly uncertain environment with policy capacity weakened by the conflict with ISIS.
 
rcookie says to david334():THAT?....
 
david334 says to rcookie():I guess so i just glanced at it it was a dumb question obviously its not going to float

david334 says to rcookie():but to say that its pegged at the moment is a stretch.
david334 says to rcookie():It was the typical non statement. I withdraw the question
 
Tex says to rcookie():Hang in there Cookie, Ya doin good..
 
Baxter says():the investment law still needs a final reading and vote.... as with all of the other stalled laws of "importance" that we are waiting on... and I thought... they were to be addressed immediately after Parliament Returned.. BBL...
 
paul-o says to rcookie():Now that Iraq has received even more IMF loans, in this case to help prop up their budget deficit because they're operating in the red, from where will they get the money to make their IMF monthly payments
 
david334 says to paul-o():Cash flow from other revenue sources one is a balance sheet issue the other is sources and uses of cash I believe.
david334 says to paul-o():plus many payments are deffered according to the terms.
 
paul-o says to david334():Wouldn't they use new sources and uses of cash to make up their previous deficit, before they paid on newer debt?
 
rcookie says():GREAT QUESTION....HOWEVER KEEP IN MIND THAT IRAQ HAS BORROWED UNDER SBA AND RFI PROGRAMS MANY TIMES IN THE PAST FOR THE EXACT SAME REASON...
 
rcookie says():HERE IS AN EXAMPLE FROM 2010 SBA.....
 
rcookie says():Given the large uncertainties and the high volatility of international oil prices, our projections and the government’s budget for 2010 are conservatively based on an average price of$62.5 per barrel for Iraqi oil.
 
In the event that our oil export revenues turn out to be higher than projected, we plan to save half of the additional revenues to rebuild our financial buffers, while using the other half to finance additional investment to improve the delivery of basic public services.
 
Moreover, if by the time of the first or second program review futures markets indicate that we will be able to obtain, on average, an oil price equal to or higher than $73 per barrel for our exports in 2010, we intend to treat the SBA as precautionary, given that we would no longer expect to have a financing need, provided that our oil export volume (projected at 2.1 million barrels per day) is sustained (this issue will be examined in detail at the time of each program review discussion).
 
Vice versa, should oil export receipts fall below our assumptions, we will reduce spending by half of the revenue shortfall and cover the remaining gap by further using our financial buffers and seeking additional external support, including from the IMF.
 
If the revenue shortfall turns out to be sizable, or if the reserve position of the CBI weakens below program targets in between test dates, we will consult on the policy response with IMF staff. 
rcookie says():In the same vein, we intend to treat the SBA as precautionary if it is expected that the 2010 investment budget will not be fully executed. Disbursements of capital spending in 2009 fell short of budgeted amounts, due in part to severe disruptions of administrative capacity as a result of the bombings of the Ministry of Finance in August and December.
 
Investment remains a key priority, however, as underscored also by the Council of Representatives’ provision of additional investment spending at the time of approval of the 2010 budget. The 2010 capital budget would imply a large increase over last year’s estimated investment outturn.
 
 In order to ensure that the disruptions of administrative capacity do not lead to poor quality implementation, we are working hard to rebuild and expand capacity, including by restoring information systems and strengthening project approval processes. With these efforts, we will aim to execute the full envelope for the year.
 
 If capacity issues cannot be fully addressed, however, investment could again fall short of budgeted amounts.
 
Therefore, at the time of the second review we will reach understandings with IMF staff on the expected rate of execution of the 2010 investment budget. If the rate of execution is expected to be less than 93 percent, we intend to treat the SBA also as precautionary.
 
rcookie says():THEY ARE UTILIZING THE CURRENT SBA FUNDS FOR SAME PURPOSE....AS BUDGET DEFICIT BRINGING TOOL.....
rcookie says():BRIDGING...
 
rcookie says():THEY HAVE THROUGH THEIR SMP AND IMF TECHNICAL ASSISTANCE PERFORMANCE.....EARNED THE RIGHT TO ACCESS THESE LOAN FUNDS....


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