Today I wanted to point out something to my readers/subscribers.
No where in my post on 5 September does it state anything about
lower denominations being issued in Baghdad. Many of you know my
position about this subject, there are no lower denominations in
Iraq. Previously, I only mentioned in my 5 September post that
new Iraqi currency will be issued.
I am referring to the new Iraqi currency that will be in addition
to the already Iraqi currency in circulation. The date for the
new printed Iraqi currency is in the future as several other
things have to occur first.
In order for the Central Bank of Iraq (CBI) to commence issuing
the new Iraqi dinar currency, the Iraqi Parliament has to pass
legislation and the necessary funds in order to print the new
Iraqi currency. The CBI has to also get approval from the
Ministry of Finance and other Iraqi government officials to
accomplish adding new currency in Iraq. In addition, the
government will have to launch an education campaign to educate
the Iraqi’s on the new currency.
The American Contractor is now informing you the International
Monetary Fund (IMF) and the World Bank (WB) meeting being held in
October is important for the governor of the Central Bank of Iraq
and the Ministry of Finance. At the meeting the topics that will
be discussed are the Iraqi currency, re-denomination and
technical training as well.
The President of Iraq, Jalal Talabani, would like the Parliament
members to start showing up for work and performing their
constitutional duties. Talabani believes this will place
pressure on the political blocs to form the government. I
however, don’t believe it will work but let’s just see what
A State of Law Coalition (SLC) member reported that a Wise Men
Committee inside the National Alliance (NA) will meet after the
Iraqi National Alliance (INA) chooses its candidate for Prime
Minister. The Wise Men Committee will then be responsible for
choosing between the two candidates. Do not count Nuri Al-Maliki
out from the post of the Prime Minister position. The fight is
The SLC and the INA have postponed a meeting that was supposed to
be held at the residence of Ahmad Chalabi, head of the Iraqi
National Congress. Both parties were going to discuss the
mechanism of selecting a candidate from the SLC-INA alliance for
the post of Prime Minister. However, the meeting could possibly
be postponed until the next day.
Many political groups have commented on the meeting between
SLC-INA. Al-Sadr Trend, (a political group), said no solid
decisions will be made at the meeting. There will be no attendees
from the Iraqi Islamic Supreme Council (IISC), the Badr
Organization, and the National Reform Trend, led by Ibrahim
The INA is upset about the mechanism used to appoint Adil
Abd-Al-Mahdi as the INA’s candidate for Prime Minister. Some are
saying the vote is unrealistic and that no candidate would secure
80% of the votes. INA members are pondering and considering
changing their position and supporting Nuri Al-Maliki for the
Prime Minister position.
Currently, Kuwaiti investors are seeking business opportunities
in Basrah, Iraq. The Kuwaiti’s are interested in agricultural
projects. This will be a positive move for both parties to
partner together in business in Basrah.
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