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 1166 IQD despite what happens to the price of oil. The Deputy said, “In the absence of borrowing from the central bank, the dinar would stay on the exchange rate even if oil prices decline.” We know that this is not true when the Deputy for the National Alliance says that there was no borrowing from the Central Bank. On October 25, 2014 I wrote a post on the American Contractor web site that the Iraqi government went into the reserves to fund government projects. The funds were needed to pay the salaries of the security forces and priority life sustaining government projects. My contact in Iraq provided me with the most accurate information and was later confirmed by the International Monetary Fund (IMF) press release on December 9, 2014.
The press release said, Nevertheless, high imports, combined with declining oil revenues and lower government sales of foreign exchanges to the CBI to finance government spending, contributed to a decline in international reserves from over $77 billion at end-2013 to about $67 billion at end-November. The government also tapped the Development Fund for Iraq (DFI), the balances of which have now been transferred to the CBI; the DFI declined from $6.5 billion at end-2013 to about $4 billion in November. The IMF has confirmed that the declining oil prices do have an effect on the Iraqi government reserves.
The IMF will be publishing the 2015 Article IV Consultation in the next few months only of the 2015 federal budget is passed. The 2014 Article IV Consultation was not completed according to my sources because the Iraqi government failed to achieve a 2014 federal budget. The Council of Ministers had postponed the meeting for the 2015 federal budget until next Tuesday, December 23, 2014.Watch Full Movie Online Streaming Online and Download
The Islamic State has cut the Internet cable in Mosul. The Islamic State are doing everything they can to cut off all communications in and out of Mosul. It illustrates the desperation of the Islamic State and they know that the Iraqi government security forces are planning an offensive to recapture Mosul. The Islamic State is doing everything they can to hold the city. We hope that the residents in Mosul continue to communicate and report on what is happening in the city. Report on the Islamic State and what they are up too.
Army Lt. Gen. James Terry, who is the commander for the Operation Inherent Resolve fighting the Islamic State in Iraq, has stated that the operation would last three years.