Tlm724

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News & Comments 1-24-16
Abadi approve the allocation of large sums of money to repair the Mosul Dam
24/01/2016 11:36 |  Direction Press
Announced Nineveh Provincial Council, for approval of the Prime Minister Haider al-Abadi on the allocation of funds and described as “large” for the restoration of the Mosul Dam, pointing out that a delegation locally visited the site and briefed on the damage suffered to one of its gates.

He Nineveh provincial council member Ghazwan Daoudi that “a number of Visits conducted by the local government recently to plug connector to review it on the ground, after receiving information about the existence of problems in some of its parts.
“Daoudi said that” the delegation met with experts, technicians and engineering at the site and flag them to one of the gates exposed to damage.
“He stressed that” the government and local I contacted directly the prime minister Haider al-Abadi by telephone and asked him to intervene to repair the damage as soon as possible.
“and the local administrator that” al-Abadi agreed to allocate large sums of money in order to contract with an international company holds the restoration and reform process, “and expressed hope that” we finish this file as soon as for the damage to Iraq about a year.
“For his part, said government spokesman Saad al-Hadithi, that” reports by some media about the existence of major damage in the connector plug may lead to its collapse baseless.
“Sabri added that” Dam coherent and there are no fears of it “, and as stated that” the maintenance and Overstuffing were taking place almost continuously “, he pointed out that” the control of the organization Daash the region has taken a break and exit of engineering and technical staff.
“He pointed to” the resumption of maintenance work under the supervision of specialists in the Ministry of Water Resources, which is part of the government’s strategy to sustain important projects.
“He added the government spokesman that” the restoration formally operations will begin soon, “and went on that” this will happen after the completion of the resolution of certain legal proceedings with the relevant authorities.
“Sabri said that” a number of international companies have submitted bids for the completion of this project, “adding that” the choice may fall on an Italian company that ended all measures leaving her only about formal conclusion of the contract. ”
And launched a domestic and international destinations in the recent warnings about the collapse of the dam near Mosul, according to the indicators announced by the Iraqi government and called for the need to deal seriously with these    warnings to prevent a humanitarian disaster. jh        http://aletejahtv.org/index.php/permalink/96689.html
tlm724:    the government and local I contacted directly the prime minister Haider al-Abadi by telephone and asked him to intervene to repair the damage as soon as possible.
“and the local administrator that” al-Abadi agreed to allocate large sums of money in order to contract with an international company holds the restoration and reform process, ”
“Sabri said that” a number of international companies have submitted bids for the completion of this project, “adding that” the choice may fall on an Italian company that ended all measures leaving her only about formal conclusion of the contract. ”
chop chop, the US State Dept doesn’t send a team of advisers over there just for tea & sh**ts and giggles
http://www.bondladyscorner.com/t161255-abadi-approve-the-allocation-of-large-sums-of-money-to-repair-the-mosul-dam
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Deputy: mafias and political scramble Iqdan on Iraq’s economy and prevented offer
{Baghdad: Euphrates News} MP Abdul Salam al-Maliki to the need for Iraq to import financial real alternatives, and not rely on oil, denying the existence of a proposal for the distribution of employees’ salaries in hard currency.
A member of the parliamentary finance committee, told {Euphrates News}, that “Iraq is going through a real and clear crisis; because of the budget’s dependence on oil”, calling for the need to find alternatives in order to provide sufficient funds to meet the shortfall in the financial budget.
Maliki said that “alternatives which the government developed today are topical solutions through the sale of securities, and the imposition of taxes and levies of all kinds, “stressing the need to adopt real solutions and alternative mechanisms is the revitalization of the agricultural sector, and stimulate the private sector, and be given a positive role, and attracting investment in order to strengthen the capacity of the country.”
He continued that “Iraq today to follow the example of advanced countries in the world, and dispensing with oil as the main source and only its financial resources.”
He said, “There are three axes of President trying to grab the Iraqi economy, the first of mafias controlling Iraqi financial market through the control of banks and banking offices and currencies and the second is the political scramble and political differences that have cast a shadow over the country in the fields of industry, agriculture, investment, and created a large gap in the area of Iraq’s progress by competing political class projects and monopoly,
as well as the lack of economic and political situation successful, and follow the road map to contribute to raising revenue Finance for the country, and that will enable the future of not rely solely on the financial revenues of oil revenues.
“and about the existence of rumors about the employees’ salaries in dollars distribution, denied MP Abdul Salam al-Maliki said the distribution of salaries in hard currency {dollar},
stressing that” the Iraqi dinar is the country’s identity can not be changed again in foreign currency, “noting that” the Governor of the Central Bank rejected during the meetings hosted by the Finance Committee this proposal. ” Ended h
http://alforatnews.com/modules/news/article.php?storyid=106829
tlm724:    and about the existence of rumors about the employees’ salaries in dollars distribution, denied MP Abdul Salam al-Maliki said the distribution of salaries in hard currency {dollar},
stressing that” the Iraqi dinar is the country’s identity can not be changed again in foreign currency, “noting that” the Governor of the Central Bank rejected during the meetings hosted by the Finance Committee this proposal.
http://www.bondladyscorner.com/t161271-deputy-mafias-and-political-scramble-iqdan-on-iraq-s-economy-and-prevented-offer
 
Oil management of financial resources of Iraq: the documentary cycle
Author: d. The appearance of Mohammed Saleh
24/1/2016 0:00   Was associated with the financial history of Iraq since the 3002 General Article 21 of UN Security Council Resolution No. 3.841 issued in May 3002, which stipulates the establishment of Development Fund for Iraq (IFD) Single returns oil resources sovereign, where the reign of the Iraqi Central Bank keeping the said account and his administration on behalf of the Republic of Iraq as an account
The condition of the need to review the fund accounts by Accountants public independent let them persist in the International Council for advice and supervision of the UN time Mak.ostnada to the text of Article 20 of the decision earlier,
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it was the deposit of Iraqi crude oil revenues (and petroleum products and natural gas) exporter or sold to the global market that account, to be deducted 5 percent of those revenues to be deposited in the account of the United Nations Compensation Commission for Kuwait war fund and addressed by the Article 21 of the UN Security Council resolution in the above ..
First: – the sale of oil mechanism and marketing recognizes Sheeran says  on the basis of the above , the Central Bank of Iraq has assumed responsibility since 2003 (the acquisition) Iraqi oil exported to the world markets and in accordance with the mechanism following implementation of the appropriation export of crude oil: –
1. There is a pre-contract signed between the company imported oil, and the Iraqi Oil Marketing Company (SOMO) on the quantities sold.
2. Received by the Central Bank of Iraq (letter of credit LC) of the foreign bank on behalf of the importing company and for the benefit of the Iraqi Oil Marketing Company (SOMO), the amount of first and according to the prevailing price of oil when you open an  accreditation.
It also includes (letter of credit) condition states that the final amount or Alackherellaatmad will undergo to increase or decrease based on the price of a barrel of oil on world markets so when you make the amount of the shipment. Noting that the export of crude oil allocations are deferred payment and sent at least a week before the start of the export.
3.eetm determine the price of a barrel before the maturity of the amount of charge based on the agreed price formula in the contract signed between the two parties (the buyer and the company SOMO) Windos example take Average oil prices for the three ports (Dubai, Oman, Ras Tanura) or a monthly average price of a barrel of oil at hand for a number of other ports as well.
4 for sale. Provide oil marketing company of shipping documents (crude oil shipping) full to the Iraqi Central Bank by the amount of maturity, according to the terms of reliance to be converted to a correspondent bank, which in turn audited the documents to make sure they conform to the terms of credit.
Accordingly, the Central Bank of Iraq to send a message SWIFT – SWIFT to the bank correspondent light of the adoption teach him the backing of receipt of shipping documents and it is matching the terms of accreditation and here is the amount required to charge the account open for this purpose in the Federal Reserve Bank in New York, which account (OPRA) oil receipts account..
5. Receives Federal Reserve Bank of New York through the oil receipts account referred to above, the full amount in the first subsequent working day to receive the message (SWIFT) sent from the Iraqi Central Bank to the correspondent bank for the company imported oil.
6. Fed deducted proportion (5 percent) of each oil shipment for every barrel of crude oil was exported and in the interest of the United Nations Compensation Fund and transferred to the correspondent (JP MORGAN) and then transfer the amount of 95 percent remaining to DFI account called the Iraq Account (2) the present time.
There is another account called Iraq the expense of (1) a special account reserves of the Central Bank of Iraq with the offer that the deductions war reparations Kuwait is (zero percent) currently according to the agreement with the United Nations, Kuwait, until the end of 2017.
7.asud Federal Reserve Bank / New York Central Bank of Iraq to reveal the weekly amounts credited to the account number (2). as The Central Bank of Iraq For his part, send those statements to the accounting department in the Ministry of Finance is that a final revenue of the treasury.
With the offer that oil receipts account in all its details is an open account in the name of the Central Bank Iraqi at the Federal Reserve / New York and in the interest of the Republic of Iraq (Ministry of Finance).
Second: – act mechanism financial returns (DFI) previously or the central bank account (2) currently is the exclusive authority head of the executive authority (prime minister) in issuing payment orders and act money . Custom has been that the message is sent ordered payment signed by the Prime Minister or his nominee in addition to the signature of the Minister of Finance (next to him).
As it sends a payment order Baltoukiein aforementioned to Mr. Governor of the Central Bank of Iraq, and asks where, for example, to transfer an amount (X) US dollar to the Iraqi dinar and restrict what offset by the Ministry of Finance
Open account dinar to the Iraqi Central Bank in Baghdad in order to secure the local cash payments to balance in Iraqi dinars, the Central Bank of Iraq here For his part, the withdrawal of foreign currency (account No. 2) and converts it to open his account also the New York Fed (Account No. 1)
and recorded for it transfer the equivalent amount in dinars for the Ministry of Finance with the Central Bank of Iraq in Baghdad can Governor of the Central Bank of Iraq to receive the order to pay the last site of the prime minister or his nominee, and the Minister of Finance requesting the transfer of an amount of account number (2) to the Trade Bank of Iraq (TBI) Open with one of its correspondents abroad in order to open letters of credit (LCS) related Bastiradat government goods and services.
Thus, the Central Bank of Iraq, the bulk of accumulating reserves of foreign currency (a cover of the Iraqi dinar) in the account (1 ) and the payment of Maakablh of the Iraqi dinar to the Ministry of Finance open an account with the Central Bank of the Iraqi dinar .
ohna achieved a new critical issue in the national currency in the case of foreign currency conversion to the Iraqi dinar .oppema, March the Central Bank of Iraq and his job in this case as a bank to issue the currency
Aloutnah.astnada what progress, noticed that the Central Bank of Iraq tomorrow complex arithmetic operations and financial marketing and management of Iraq’s oil revenues on behalf of the Iraqi government and in accordance with the documentary cycle integrated.  http://www.alsabaah.iq/ArticleShow.aspx?ID=108963
tlm724:    Thus, the Central Bank of Iraq, the bulk of accumulating reserves of foreign currency (a cover of the Iraqi dinar) in the account (1 ) and the payment of Maakablh of the Iraqi dinar to the Ministry of Finance open an account with the Central Bank of the Iraqi dinar .ohna achieved a new critical issue in the national currency in the case of foreign currency conversion to the Iraqi dinar .oppema, March the Central Bank of Iraq and his job in this case as a bank to issue the currency
Interesting play on words, just in case they convert to dinars
http://www.bondladyscorner.com/t161286-oil-management-of-financial-resources-of-iraq-the-documentary-cycle
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Economists claim the government for “restructuring of jobs” without the introduction of new degrees
Baghdad / Ibrahim Ibrahim    Economists said, on Saturday, that the functional structure of the Iraqi state needs a comprehensive review replenish some of its institutions through the internationalization of its human resources. As pointed out the need not to develop any new functional degrees during the next three years,
called for a reduction of operating expenses and the preparation of a supplemental budget in the event of improved oil prices to compensate for the lack of financial resources.
“He predicted Finance Minister Hoshyar Zebari, the continuing collapse of oil prices because of the” recession of the world economy. ” . As called for “genuine reforms of economic structure”, he stressed instructions to amplify some of the things that support the country’s economy in the budget version.
The economist said Uday Abdul Amir Amer in an interview for the “long” that “Iraq’s budget for the current year paper with distinction does not include real figures can be relied upon to the end of the year due to the high deficit to nearly 77 trillion dinars.
“He added that” the existence of a clause in the budget includes a figure of new functional degrees does not necessarily mean launch those grades because they are simply not based on the amounts of money at the Ministry of Finance.
“said Amer “The past years have shown a lack of commitment ministries and government budget law accurately and institutions, especially with regard to the development of new functional degrees, so note the recruitment of new staff through nepotism and clientelism in addition to the sale of grades large sums.
” He said the “weakness of the regulatory side to work Most of the ministries and government institutions has led to the creation of types of financial and administrative corruption that has drained billions of dollars from the country’s resources without producing a parallel to those expenses.
“said Amer said” the government functional cadres up to four and a half million employees lacked equitable distribution among its institutions to address the vacancies without the introduction of new degrees, so the government needs urgently to plans to restructure its human resources according to data the immediate economic changes.
“He called the economic expert to” focus on reducing operating expenses and the preparation of a supplemental budget in the event of improved oil prices to make up for the implementation of the deferred projects or stalled due to lack of revenue in the original budget To remedy the non-collapse of the country’s economy.
“Zebari said, Thursday (21 / January / 2016), during a press conference held at the headquarters of the ministry and attended (range Press),” The forecasts indicate that the collapse in oil prices will continue because of the recession of the world economy, “noting “Many countries in the world and the Gulf worked towards investment and collection to control the economy without being influenced by a fall in oil prices.
” Finance Minister Hoshyar Zebari stressed that “there is no intention to cancel the grades in the ministries, as pointed out that” The government is obliged to pay employees’ salaries by finding Ways and alternatives. “Zebari denied that” there is no cancellation of some grades in the ministries, but our priorities to secure employees’ salaries and social protection network.
“Zebari added that” the government is obliged to pay the salaries of staff and has a lot of ways and alternatives to provide these salaries.
“He called Zebari to “make a real and radical reforms of economic structure to review all expenses objectively,” stressing that “the ministry has instructed the implementation of the budget to maximize internal resources and increase tax collection, and gave freedom to the provinces this aspect and expand the non-oil resources which they can support the country’s economy in the budget.”
He added Zebari “The ministry met with economists and bankers experts economic Committee and we discussed solutions for the development of the budget and the fulfillment of obligations and the development of the crisis experienced by the country solutions,” he said, adding, that “the outlook suggests that oil prices will begin to rise at the end of this year.”
He said the Minister of Finance that “the team from the ministry was able to provide the overhead 43 trillion dinars and we concluded last year in abundance rather than a deficit.
“The member of the economic and investment commission in the House of Representatives Najiba Najib, suggested that the grades in the general budget for the financial year 2016 will amount to 50 000 degrees. She Najib in a press statement that “most of the grades mentioned, will go to the security sector, especially the ministries of interior and defense and the popular crowd.”
She added that “the budget as well as distinguish the security sector will take care of the displaced people and the reconstruction of the liberated areas and work on the return of displaced persons to their homes and compensation”.
The Fund International Monetary announced, on Wednesday, the (11 November 2015), that the economic growth rate in Iraq during 2015 was 1.5% due to the increase in oil production located in areas under the control of the Iraqi government.
With the expectation that the current account deficit of the balance of payments rise to 7% of GDP for the same year, he pointed to a decline in foreign exchange reserves. It is noteworthy that Iraq complain of weak financial revenues due to declining oil prices and increased expenses, which the military side came on her head, which making government resorted to austerity as one of the solutions adopted to meet the country’s economic situation started.  LINK
tlm724:    Zebari added that” the government is obliged to pay the salaries of staff and has a lot of ways and alternatives to provide these salaries. “He called Zebari to “make a real and radical reforms of economic structure to review all expenses objectively,”
stressing that “the ministry has instructed the implementation of the budget to maximize internal resources and increase tax collection, and gave freedom to the provinces this aspect and expand the non-oil resources which they can support the country’s economy in the budget.”
http://www.bondladyscorner.com/t161293-economists-claim-the-government-for-restructuring-of-jobs-without-the-introduction-of-new-degrees