Iraq Government May Borrow from IMF to Cover Deficit

Central Bank of Iraq

The Iraqi government officials in the cabinet and parliament are still trying to come to an agreement with the 2015 federal budget.  The officials postponed the budget meetings to next week due to the falling oil prices. The declining oil prices are creating a major problem with balancing the budget and coming to an agreement. There is a budget deficit due to the security operations in fighting … [Read more...]

Sunni groups in Saladin Province Boycott Meeting

Iraqi Army Tank

Today the Iraq government held a conference in Saladin province in which members of a Sunni tribe boycotted the meeting.  The Sunni groups refused to attend because they said the meeting held terrorist's figures.  It is unknown that terrorists participated in the meeting. A few days ago, the Deputy for the National Alliance said the Iraqi dinar exchange rate would not change and remain steady at … [Read more...]

Islamic State re-enter the City of Baiji

Iraq Government

The Iraqi budget is still in negotiations, and recent media reports have said the price of oil within the federal budget decreased from $70 to $60. There is no confirmed price. Everyone is an agreement that there will be a deficit in the 2015 federal budget. The Iraqi Kurdistan Regional Government (KRG) is moving towards Iran.  News reports in Iraq are saying that the KRG would like to strengthen … [Read more...]

General Martin Dempsey Meets Iraq Prime Minister and U.S. Troops

Gen Martin Dempsey

The top U.S. Army general is giving everyone in the world a clue that it will be necessary for the future to deploy ground troops in Iraq. Army Gen. Martin Dempsey, chairman of the Joint Chiefs of Staff, arrived in Baghdad on Saturday to meet with Iraqi government officials.  The meeting was to gather what is happening on the ground in Iraq and assess the situation. Gen. Dempsey met the Iraqi … [Read more...]

ISIS Have Access to International Financial System from Iraqi Banks under their control

ISIS Mosul bank

In June 2014, the Islamic State of Iraq and al-Sham (ISIS) swiftly moved into Mosul (the second largest city in Iraq) and abruptly took over. Upon seizing the city, ISIS immediately took to robbing all the banks, including stealing $400 million from the  Mosul Central Bank.  In July, the Financial Times then reported that ISIS had now positioned armed guards outside the banks in Mosul.  The ISIS … [Read more...]

The Iraqi Economy is losing 1.2 billion Each Month

Iraq Oil and Gas

The Iraqi Oil Ministry representative has stated that the Iraqi economy is losing 1.2 billion because the Islamic State has control of several oil fields. Seven Iraq oil fields are under the control of the Islamic State that make $1 to $3 million from the oil smuggling. The Islamic State takes the oil using tanker trucks and traveling through well known oil smuggling routes from Mosul to Turkey, … [Read more...]

ISIS Introduces Rules For New Recruits in Iraq and Syria

ISIS Recruiting

I have been writing and talking about in my podcast about the Islamic State in Iraq.  Each week since the terror group have taken over the Iraqi city of Mosul, recruiting has been going up.  Each week there are hundreds of people joining the Islamic State from every continent.  It appears now that the Islamic State has new rules when joining their group.  To join IS you must have an endorsement … [Read more...]

American Contractor Podcast 0053

I talk about the recent air strike conducted by the U.S. Central Command in Iraq targeting a ten vehicle convoy of the Islamic State.  In the convoy may have been the leader of the Islamic State al-Baghdadi.  It is being reported that al-Baghdadi was wounded in the attack.  It is unconfirmed if the Islamic Leader was wounded or killed. In 2012, the Iraqi dinar new currency reform was to take … [Read more...]