Private sector words are huge. They have talked about this for years that when the value changes the private sector will flourish.
Excellent article, and yes this does provide yet another clue as to how close we really are to the end of this ride and the beginning of the next one.
Thanks for sharing this one with us. Blessings, Steve
Barney Fife: Abadi: Baghdad locked and we are trying to switch to an open economy / expanded
Slyder | 1 November 2015 12:57 | sajad |
Prime Minister said the Commander in Chief of the Armed Forces Haider al-Abadi, the Iraqi capital Baghdad militarily secured 100%, were the dimensions of terrorism by long distances.
Today, we are fighting terrorism and backwardness, however, and in the other we build our country, and this civilization that provided Many of the world, and we are determined to re-laurels,
“adding that” the challenges we face today, but many of these industrial and commercial demonstration to prove in this country great potential and enormous potential of the most important human potential and capabilities of the Iraqi advancement that can again. ”
He stressed the need for “cooperation between the countries and peoples of the region and its countries and the international community, as there must be close cooperation between states, as the peace-building in the region is not only at the level of governments and official institutions,
but there must be solid relationships on peoples’ level of trade and economic interests Industrial and this is who builds peace and integration between peoples and nations and this is what we seek. ”
He pointed out that “The government is committed to a government curriculum and is encouraging the private sector and partnership between the public and private sectors, and we pay in this direction and to establish a real partnership between the two sectors and we want to remove the bureaucratic obstacles that have hindered investment and economic activity in the country.”
He explained, “We are trying to turn to an open economy and remove the obstacles that have had over the years,” pointing “Today with the fall in oil prices significantly there is a real financial difficulties, and we are building the capacities available in the country to rise up and resist this challenge.”
Abadi pointed to the importance of “harmony and integration between capital and expertise in Iraq and abroad, especially in the region,” he said. “This integration drives more productivity and progress, there are common interests between states everybody benefits on the basis of the outcome of the benefit of any Everyone learned from integration and cooperation.” .
He noted the importance of “promoting local industries and increasing the internal Iraqi national income, rather than relying on oil only, Iraqi politics relied on oil in the economy and that’s just the low prices a real financial problem with the rise in oil prices, the rise did not invest to invest in other aspects of the economy.”
Abadi Turning to the military operations waged by the security forces of supporting the popular crowd and the sons of the tribes, saying: “There is a war imposed on us by the terrorists and thought backward rigid obscurantist does not want to sit with the other only, but wants to liquidate and kill him,
and like these we must confront,” he said “We must succeed in war, there are also represented another challenge of how to continue funding of higher government spending, which rose large degrees over the past years and spending on the war.”
He continued, “Despite the financial crisis we have achieved victories in battles and liberated so far hundreds of kilometers in Baiji sector, and Tin Baiji and drained all but the north of Baiji, and areas that have liberalized completely no one imagines that these areas will be free of this standard time.”
He called on politicians to Abadi “Unity Differences are normal but may not disagree on the service of the citizen and the promotion of the economy, investment and victories, we must achieve victory in Ramadi.”
The “secure Baghdad militarily 100%,” noting that “terrorism years ago was threatening Baghdad and Obadnah long distances, and can not be allowed to retreat in the war so they take priority attention.”
“The Baghdad gallery prove to Iraqis and the world that we are moving in the reconstruction and stability is not irreversible, and we fight all the red tape and obstruction and obstruction of investment and the economy no less damaging for terrorism from other areas,” noting,
“We want to provide the imposition of work and raising the standard of living of the citizens and it can only be achieved through flexible, free and well-developed economy, and that is through the private sector “.
Eddinar: Hey Steve, Thanks for the input as always. Do you and your sources see this likely happening before the end of the year or early next year? Thanks in advance…
Steve: From our contacts any my own beliefs, (I really do not like to predict any specific time period due to the constant changes in Iraq) but this year looks excellent. ISIS is almost a thing of the past.
I talked to Ray the other day and he also believes we are right at the verge of this happening. Again, once ISIS is fully under control (one major city left) and then it looks really good for this to happen.
They finally did agree to $45 per barrel for the 2016 budget (saw it in a few articles recently) regardless what you are reading in the rest of the news, and they are making a lot of adjustments to make that happen.
Out of that budget, 20% of it will be defense, so you can see that they are serious about protection their country.
Steve: As for the HCL, well, we have been told that it was done a while back, but price of oil changed, budget of 2015 never got fully released or a portion of it to keep the operations of Iraq going. This is not only exciting for us, but finally for the citizens of Iraq. We are almost there.
Like another member said, even baby steps are huge at this point. I am extremely positive but anything can still happen. We also found out that Maliki is pretty much history.
He is just making a lot of noise right now but him blowing off steam is getting ignored by most. His days are numbers in many ways. I really do not wish him harm but do wish him to just go away and never been seen or heard. Blessings, Steve
My pictures below are not a cute a Pokes, but still nice ones.
Steve: Several years ago a friend of mine sent me this:
Why Investing in the Iraqi Dinar is Worth a Try
With opinions going back and forth about whether or not it is risky/worth it/smart to invest in Iraqi currency, one specific reason has always kept me thinking that it was worth a shot.
If you know the basic information about the dinar, then you know how the value dropped once the Gulf War occurred, and then dropped even lower when the US invaded Iraq. At the current value of about $.0007 US, the Iraqi dinar is at its lowest. This main point is why so many people are buying it fast, and buying in great quantities.
Several people think it is extremely risky with a low chance for profit, while others see it as a great money making opportunity. While looking into the many deep facts about Iraq, it’s stability, their government and oil reserves, many critics state that it is unlikely for the Iraqi dinar value to increase, and a greater possibility for it eventually to amount to being worth nothing.
But in my point of view, I see it simply as this: There’s a huge chance that it will increase even the smallest amount in my lifetime, and if I have enough of it, I could profit greatly.
Currently, I have 41,050 Iraqi dinar. With its current value, it’s only worth about $28 US. If the value goes from $.0007 to $.007, it goes from being worth $28 to being worth about $287 US. To me, that is a nice profit, considering it went up only one-tenth of a cent.
Now if the value goes up to $.07, I have about $2,873 US. No matter what kind of profit you are looking for, that’s nice pocket change for whatever you would want to get with that. Now thinking much bigger…
If the Iraqi dinar goes back to the pre-Gulf War value (approximately $3.22 US), I will have in my possession about $132,000 US. I could turn $30 into $287… $2,873… or $132,000 and so many more possibilities inbetween.
It might seem like a risk to many, but in my eyes, it is bound to go up sometime, whether it goes up $.0001 or $8.52. And if it all amounts to nothing in the end, I lost $30… but it was worth a shot!
I totally agreed with him and his comments and still today believe the very same thing, except more confident now than ever having the privledge to partisipate in a shared business in Iraq.
** Article to support my $45.00 per barrel.**
Cabinet Approves 2016 Budget of $91bn
Iraq’s Cabinet has approved a budget of 106 trillion Iraqi dinars ($91 billion) for 2016.
The figures are based on crude oil output of 3.6 million barrels per day (BPD) at a price of $45 a barrel.
Spokesman Saad al-Hadithi told The Associated Press that Iraq will run with a deficit of 23 trillion dinars ($20 billion), which will be relieved through loans from local and international lenders.
The budget will now go before parliament for final approval. http://www.iraq-businessnews.com/2015/10/21/cabinet-approves-2016-budget-of-91bn/
Back in 2013 I remember these comments:
When Will Iraqi Dinar Values Increase?
Many soldiers and contractors returning from the Middle East have brought back millions of Iraqi dinar upon speculation that the currency will soon explode to its pre-war value. Some even dare to hope that it will again reach the levels it enjoyed pre-Gulf War.
Currently, 1 Iraqi dinar is worth about 1/10 of a U.S. cent. Experts expect that it will increase gradually as Iraq is stabilized, within the next three to five years, and will remain in a range between $.01 and $1.25 versus the U.S. dollar. Still others argue that it will happen much more quickly, as soon as one to two years, as the Iraqi oil fields are rebuilt and again begin to produce massive revenue for the country.
The dinar has already increased value 25% since the end of large-scale fighting in the country. Iraqâ€™s currency is tied very tightly to the geopolitical atmosphere in the country, and there are many reasons to be hopeful in this regard:
The United States allocated over $18 billion for reconstruction and improvements to infrastructure along with a continuous support structure. It has forgiven Iraq’s debt to the United States, and offers the backing that will help Iraq develop its market economy, (valued at $70 billion a year) given its vast oil reserves and educated population.
Iraq has oil reserves of $10 trillion, second only to Saudi Arabia. They have signed tentative agreements with the world’s biggest oil companies in the world to get the oil flowing as quickly as possible.
Many of the world’s most advanced nations are currently working in Iraq, building commercial enterprises, and intending to make it a base of operations.
Money has been promised by many countries for help with restoration projects and infrastructure improvements, including: electricity, clean water, road projects, internet systems, phone systems, and health services. Much of this work is already taking place.
Iraq is setting up agreements with neighboring countries for exports of oil reserves to quickly begin to produce revenue.
Iraq’s new government set up a monetary system that is spurring foreign investment, which is essential to building a strong market economy.
The Central Bank of Iraq was set up totally independent and not run by leadership in Iraq, in much the same way as the Federal Reserve operates in the U.S.
Iraq has opened new stock and bond markets, and they are thriving while pushing listed Iraqi stocks drastically upwards.
Real estate is booming in Iraq, as people are permitted to buy where they couldnâ€™t before and depressed prices are spurring sales. Citizens have more money than theyâ€™ve had in many years and are taking advantage of the market.
South Africa’s Strategic Fuel Fund (SFF) wants to import 24 million barrels of oil a year from Iraq to boost its reserves, according to a report from Reuters.
The country has not imported crude oil from Iraq since 2003, when Saddam Hussein was toppled.
In August, South Africa’s largest black-owned petrochemical company, WASSA, confirmed that it had applied for Iraqi crude, but there was no confirmation of an allocation.
Pretoria has said it would resume oil imports from Iran immediately if sanctions were lifted.
Iraq’s Oil Output Climbs to Record as South Escapes Fighting
Iraq’s crude production climbed to an all-time high in July with record exports from southern terminals mostly unscathed by Islamic State militants.
Output in OPEC’s second-largest crude producer rose to 4.18 million barrels a day last month from 4.15 million in June, according to the International Energy Agency monthly report on Wednesday.
Giant fields in the south cranked out record Basra crude exports of 3.06 million barrels a day, up about 40,000 barrels from June, it said.
Exports in shipments from the north of Iraq through the port of Ceyhan on Turkey’s Mediterranean coast dipped 50,000 barrels a day to about 520,000 barrels a day, according to the IEA.The drop was due to rising tension between the central government and the self-ruled Kurdish regional authorities in the north over oil payments and after an attack at the end of July on an export pipeline inside Turkey, it said. Exports resumed on Aug. 6.
International oil companies operating KRG’s oil fields have not received revenue from exports since late last year, although they have received some cash for domestic sales, the IEA said.
Iraq’s Oil Output Climbs to Record as South Escapes Fighting: