Iraq to Slash Interest Rates starting January 4th 2009.
December 2008Monthly Archives
2009 The Year of Iraqi Elections
In the coming new year their will be five elections and one referendum. Yes I checked the scheduled and it said no RV in 2009. Yes it’s true have I ever been wrong before.
The Iraqi Council of Representatives Speaker Resigns
The Iraqi Council of Representatives Speaker Mahmud al-Mashhadani just announces his resignation from his position as Speaker
Chapter Seven Update
A lot of talk about the Chapter Seven. Let me explain it to you. The Iraqi government and the U.N. Security council are drafting a new resolution to either keep the Chapter Seven in Place or create a separate resolution.
Basra thinking about own Region
It keeps getting better and better if the Kurds can have there own region why not the Arabs or maybe the Persians.
Postponing governate Elections for Six Months?
In certain areas one in particular they are bringing up the issue of postponing the Iraqi provincial elections that are scheduled for 31 January 2009 for another six months.
SOFA Agreement Update
As you all know there will be a referendum to be held before 30 June and some circles say before 31 July 2009 for the SOFA agreement. One of the reasons the SOFA was signed and approved by the Iraqi Presidency Council is the Iraqi governments were guaranteed a referendum a vote by the Iraqi people within six months. The Iraqi people will decide if the U.S. Agreement is for them or not.
If the Iraqi referendum goes against the SOFA agreement then the Iraqi government according to SOFA Agreement Article 30 Para 2 can cancel the agreement and in one year U.S. Forces have to leave Iraq.
Interesting to note that this is 16 months roughly the same time obama had said when he would like to withdraw forces from Iraq.
The SOFA Agreement will be referred next month January 2009 to the U.N. Council and U.S. Gov notified Baghdad of the their consent to release Iraq from UN Chapter 7. I am not saying that Iraq will be released from UN Chapter 7 next month it is that there is talk about it but nothing concrete.
Don’t be surprised if it goes all the way to next summer of 09 after the referendum vote to lift Chapter 7. and depending on the outcome. You pass the SOFA and will lift the Chapter 7 type of scenario. But what do I know it’s your world I am just here on leave.
Oil and Gas Law Update
The Oil and Gas Committees report at the Council of Representatives called for forming an Emergency Unit headed by Prime Minister al-Maliki to run the order Operations in the country.
The concern is the decrease in oil prices and what effect it is having on the Iraqi 2009 budget.
The Council called for the removal of the Oil Minister Husyan al-Shahristani because he is incapable of compensating for the lower oil prices by increasing production.
Iraq sells oil for 33 a barrel.
I don’t think the Oil and Gas Law will be passed anytime soon.
Plus Big Oil companies like BP, Exxon, Total were absent and did not show up for the Dec 5th Eneregy Expo in Baghdad.
Iraq Chapter Seven Update
Just received word that it will be next month Jan 2009 when they will either lift the sanction or start the negotiations for lifting it.
The SOFA agreement will continue start on 1 January 2009.
Patriotic Union of Kurdistan New Leadership
The PUK Secretary General also the Iraqi President Jalal Talabani, has made the decision to delegate all his powers as PUK Party leader to his two deputies.
The memo read:
“Mr. Secretary-General told the attendants that based on the powers granted to him according to the internal party regulations, he will grant all his powers to his two deputies, Iraqi Deputy Premier Barhim Salih and Kurdistan Regional government Vice-President Kosrat Rasul. The party’s official outlets were observed to continue to refer to him as the Party’s Secretary-General after 3 Dec.
President Talabani had also sent a letter to the PUK Political Bureau which said “his deputies have the same powers as him to make decisions in his absence.”
End of memo information.
Now you would have to wonder why President Talabani is delegating his powers. What is he (Iraq President) getting in return?
Notice that he is still the Secretary-General of the PUK. I guess when things go bad as President you can always head back to above the green line.
Let’s keep watching President Talabani because something is surely in the works. Do you know?
