It appears that my sources & connections have once again done a top notch job at providing me with precise and accurate information. They were right on key when they told me what was going to happen with the Development Fund for Iraq (DFI). American Contractor has stated numerous times in the blog that it would be extended, put under a new name and that it would remain at the New York Federal Reserve. The Kuwait article from KUNA excerpt below supports my previous posts and predictions.
Jan 28, 2011
American Contractor Post about keeping the DFI Iraq fund in New York.
14 June 2011 – (KUNA)
He explained that in replacement of the DFI account, a new account will be opened in the name of the Government of Iraq, to be held by the Central Bank of Iraq at the US Federal Reserve Bank, and transfer will be made to that new account of all the financial assets currently held in the DFI and any other Iraqi Government assets.
Now that the 100 day event is over (7 June) several of the Iraqi Ministries are coming out on Iraqi TV and announcing the great accomplishments their Ministry has done. For example, the Ministry of Civil Society Affairs was recently on Iraqi TV and made these few comments about what has been accomplished;
– Attending training programs hosted by the United Nations
– Participating in rational pillars for governance
– Having Non-Governmental Organizations (NGO) participate in the Iraqi Ministries Activities
– Preparing buildings to hold conference, forums, and workshops
Also, in Iraq News, the Ministry of Civil Affairs also mentioned all the obstacles within the past 100 days;
– Limited authority given to the Ministry
– No special budget for the Ministry
– No branch for the Ministry in all of Iraq’s provinces
– What the actual Mission is of the Ministry of Civil Affairs
– Lack of Training and rehabilitation programs for the Ministry and its members
– Financial and administrative corruption
Later in the day, the Iraqi TV also interviewed the Ministry of Foreign Affairs, Hoshyar Zebari, who also talked about the 100 days and gave a lengthily speech.
Zebari said that during the 100 days the Ministry of Foreign Affairs sent 40 trainees abroad to several countries to attend training course’s. The training courses have benefited over 1400 employees since 2004. Zebari continued talking about the missions of his ministry. He mentioned that they have 76 Iraqi Embassies worldwide and 13 general consulates. The number of foreign missions to Baghdad is 56 with only six diplomatic missions. There are 14 International organizations working in Iraq at this time.
Zebari continues on with his speech and mentions a great achievement with the Iranian Foreign Minister, Ali Akbar Salehi, in solving the border demarcation plan. Also, the sewage water flooding has been solved between the two countries.
The speech ended with the obstacles of the ministry and the lack of coordination between the ministries in international affairs. Zebari stated coordination must take place between the main Iraq government ministries.
The only State run television program from the Government of Iraq is the Al-Iraqiyah TV News. You have to be very cautious when watching and following the al-Iraqiyah news because they are very biased in regards to the government points of view.
In other news, the Public Integrity Commission stated that 226 billion dinars was lost to corruption over the course of five months. The commission is looking to recover those lost funds with the Iraqi courts.
Speaking of courts, the President Of Iraq, Talabani, has authorized Vice-President, Khudayir al-Kuzai, to approve death sentences on 81 convicts. Most of the crimes involved murders and terrorist activities.
Some of you have seen the reports from Iyad Allawi, requesting that the Iraqi Parliament summon the Iraq Prime Minsiter Maliki. Allawi would like the Minister to talk about the security situation, corruption, the presence of US forces and using violence against demonstrators. Maliki has been doing his best to avoid being served the summons via political maneuvering.
Pay increases for government employees will be issued very soon for the junior employees and pensions will be increased as well. The pay has been very low in comparison to other government workers and with the increase in oil prices hovering at $100 a barrel the increase seems imminent.
Many of my readers have been sharing rumors with me that I assume they are gathering from many of the forums they read. I always encourage my readers to come to me for help in deciphering any news they come across and even for confirming or debunking many of these rumors. One of the most recent ones brought to my attention this week was in regards to people thinking there was going to be a reval at the end of June 2011 because of a March 2011 International Monetary Fund (IMF) report. Many people are keying in on the word revalue inside the report and are getting the actual meaning confused. The facts are that the Iraq government will be cashing in the foreign currency reserves which is the revalue they are referring to and exchanging those foreign currency into Iraq Dinar. They can twist this around as much as they want to but the facts are the facts. In due time they too will come to realize this is what was meant when the report was issued. Further news reports will shortly confirm this as well.
The Prime Minister, Maliki and the Council of Ministries still have not requested the re-denomination revaluation report from the CBI. It’s possible that they may be requesting it soon however, the political climate at the moment is not helping the CBI at all. Also, as much as some of you might be hearing contrary to this, the lower denoms have not been printed and are nowhere to be found in Iraq. Any rumors of them existing are simply that, rumors! Anyone who states otherwise is simply spreading false information. I will provide my subscribers with early proof when they are in existence with actual photos. Before being released that is.
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