I’ve noticed an increase in the amount of articles that have been coming out in the Iraq media in regards to the deletion of the zeros and the distribution of the new currency. The articles are repetitive. I havent noticed anything new about which denominations will be replaced or what new denominations will be printed and circulated.
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Salary Raises for Iraq Government Workers – Jan 2012
There’s been some positive news for State and government retirees who are currently collecting a pension from the Iraq central government. The Parliament Finance committee has decided to give a raise in salary to the pensioners and State employees in the beginning of 2012. The State employees and retirees pay raise has been included in the upcoming central Baghdad federal budget of 2012. The 2012 Iraq Federal budget will be between 112 and 120 billion usd. The second largest federal budget after Saudi Arabia.
http://www.alnaspaper.com/inp/view.asp?ID=5543
New Reports published Iraq
Things are progressing with the last remaining troops leaving Iraq which all will be redeployed back to there respective home bases. I have also included reports that would be of interest to Iraq investors newly published reports that are a must read.
A U.S. Army Brigade Combat Team will serve their remaining 12 month Iraq tour in Kuwait. The Army unit arrived in Iraq on July 2011 and will reposition themselves in Kuwait until the end of their tour in July 2012.
According to the Brigade Commander “This force will function as a reserve in the region to provide maximum flexibility for response to contingencies,” it said.
http://paktribune.com/news/US-shifts-soldiers-from-Iraq-to-Kuwait-245012.html
Please take a moment and download these reports USAID Investor Guide which has been updated published Nov 2011 and the IFC Country Report.
USAID Investor Guide Iraq Nov 11
http://export.gov/iraq/static/Investor%20Guide%20of%20Baghdad_Eng_Final_Latest_eg_iq_041335.pdf
IFC Country Report on Iraq 2011
http://export.gov/iraq/build/groups/public/@eg_iq/documents/webcontent/eg_iq_038641.pdf
Iraq Stock Exchange to Host Telecoms
The Iraq Stock Exchange (ISX) is preparing to host the three Iraq Telecoms Asiacell, Korek and Zain. The ISX Chief executive Mr. Taha Abdul Salam is concerned the the new IPOs when introduced could destabilize the markets.
Iraq Oil Output Capacity Increased in Oct 2011
The Iraqi Minister of Oil recently announced that Iraq had increased their oil output to 2.9 million barrels a day. However, that figure is exaggerated. Iraq only exported 2.2 million barrels a day due to the limitations of the infrastructure. Iraq is hoping to reach 3 million barrels a day in out put oil production by the end of the month. This remains to be seen as going from 2.9 to 3 million barrels a day in output capacity with the current limitations will be difficult. In any case, this is a milestone for Iraq.
http://www.foxbusiness.com/industries/2011/10/22/iraq-oil-output-capacity-jumps-to-250-million-bd-oil-minister/
Another CBI Interview Mudher
Second interview with the Central Bank of Iraq Advisor, Mudher Mohammed Saleh. It was an interview conducted by an al-Iraq TV producer in Arabic and translated to English. The topics are in regards to private banking and housing shortage projects. Housing is desperately needed in Iraq.
CBI Officials in Washington
The governor of the Central Bank of Iraq Dr. Sinan al-Shabibi and his advisor Mudher Mohammed Saleh have been attending private meetings in Washington D.C. this week and will be leaving back to Baghdad today.
Iraq to Sell Oil in Dinars Says CBI
There have been several events that have recently occurred in Baghdad. On 17 Sept the al-Iraqiyah TV news station hosted an interview with the Central Bank governor Dr. Sinan al-Shabibi, CBI Advisor Mudher Mohammed Saleh and an unidentified Iraq parliament member. The interview was about the Iraqi dinar currency and the deleting of the three zero’s. The interview lasted about 30 minutes however, we were able to record 20 minutes of the interview. After the recording I had the interview translated from Arabic to English. I have included the translation in this post for all my readers.
Central Bank Iraq Collecting Bank Notes
It has come to my attention that speculation still continues in regards to Chapter VII and whether or not it is lifted. There are some select few individuals who continue to argue that it has been lifted. I’m still not quite sure why some are still arguing that issue when I have provided link after link of credible sources that confirm Chapter VII is still ongoing.
If there are some who are not yet convinced maybe you may need more reassurance. Read on.
The Prime Minister of Iraq, Nuri Al-Maliki, was recently invited to China. The Chinese government welcomed the delegation from Iraq which was led by Prime Minister Nuri Al-Maliki and other high level ministry officials. The MENAFN news web site just published an article referencing how PM Maliki asked the President of China, Hu Jintao, for his support to get out of the UN Chapter VII. China has a permanent seat in the United Nations Security Council and has a single vote to remove the remaining sanctions against Iraq. China has a major role in this which may be the reason PM Maliki has asked for the support in being removed from Chapter VII.
Iraq and UN Chapter Seven
The UN Secretary General has recently released another news article discussing the relationship between the Iraqi and Kuwaiti governments. The UN Secretary would like the Iraqi government to pay the 600 k in USD to help with the cost of locating the Kuwaiti property, the archives, the Iraq-Kuwait Boundary maintenance Project. The Iraqi government is not in a hurry to facilitate the Kuwaiti government in helping them with these issues. The biggest problem is the Port of Mubarak that is currently being built by the Kuwaiti government. Iraq remains in Chapter Seven Sanctions.
