Thread: Iraq/Dinar Until June 9th 1PM CST

.And on the application of Article 140 of the Iraqi Constitution, the Permanent His Excellency President Jalal Talabani, it will be implemented on schedule.


From the article above: My question is "What is the schedule for implementin Article 140?

To whoever has the answer first

Originally Posted by dorrel

.And on the application of Article 140 of the Iraqi Constitution, the Permanent His Excellency President Jalal Talabani, it will be implemented on schedule.


From the article above: My question is "What is the schedule for implementin Article 140?

To whoever has the answer first

Come to think of it, i've never seen a deadline or schedule for the article...anyone else? Oh wait, an earlier article did say something about within june for certain goals to be met, i beleive 140 was one of them.

Originally Posted by rvalreadydang

LOL i think in their lingo it means only late by a month or 3

Doesnt it mean something like the hispanic countries such as Panama say, "mañana". which is tomorrow which everyone knows never comes!

Originally Posted by Spoiledred

Doesnt it mean something like the hispanic countries such as Panama say, "mañana". which is tomorrow which everyone knows never comes!

Yes it does!!!, it will be here tomorrow!! duh

Originally Posted by rvalreadydang

Come to think of it, i've never seen a deadline or schedule for the article...anyone else? Oh wait, an earlier article did say something about within june for certain goals to be met, i beleive 140 was one of them.

Actually they were given until the end of 2007 to complete 140, however they are working hard on an accelerated reorganization package which is noticeably
coming together. The Iraqis are doing a fantastic job!

Ok i think i found what i saw earlier

Article 140 and topped special attention Kirkuk talks by conference where Mr. al-Maliki pledged to implement approved despite the difficulties and said : despite the difficulties we are involved in the application (the details of the visit and the press conference, p. 3).
.According to statements by Mr. Abbas Bayati told (morning) it is possible to understand the new political program to Mr. al-Maliki in his talks with the leaders as necessary to stabilize a mutual commitment on the Kirkuk to overcome one of the most important problems in an attempt to solve other obstacles within the month of June. .To be in the next twenty days, which he described Bayati Balhasmah the political arena has been particularly strong momentum-by-saying in the current and next weeks, through interviews and meetings continued to adapt a unified position terminate repercussions controversial and achieves trips to see the issues to be resolved Kamrajeh Constitution and the Law on Oil and Gas and uprooting the Baath and Kirkuk

it's in post #213

Originally Posted by rvalreadydang

LOL i think in their lingo it means only late by a month or 3

Exactly!!

This might be that they have a date for the reval under their hats though.

Bill oil and gas in the heart of the Iraqi conflict to dominate the wealth

Source : House life-03/06/2007

Iraq is a stubborn attempt of the American administration to expedite the enactment of the 2007 oil and gas, which is of great importance in order to achieve some success in the face of internal pressures and increased international exposed. As current law, which was approved by the government, will give American oil companies and British substantial benefits through contracts to participate in the exploitation of oil reserves and production for a long time. It seems clear to the observer through the complexity of some aspects of law and ambiguity, that pressure on certain political forces to participate in governance, hesitant or reject the project, to push for approval, is not free from deception.

This raises the debate on the bill, a number of reservations constitutional, legal and technical task of Pauguetassadath and timeliness in light of the security, political, economic and social situation prevailing.

In this context, it seems necessary to refer to the views of the lecturers and professors Jeweler Hamza Mohamed Ali Zeini, and Zuhair denominator Tariq Shafiq Sabri Kadhim and Issam Chalabi Kabbah and peace .. , And others, backed by the majority of citizens who have doubts that the seizure of oil wealth is the motivation President of the occupation. ومع أهمية هذه التحفظات، يحظى مشروع القانون بدعم كثر من القادة السياسيين، أعضاء الحكومة والبرلمان ومستشاريها، الذين يجدون فيه منافع عدة محتملة للعراق كوزير النفط حسين الشهرستاني وعادل عبد المهدي وبرهم صالح وكمال البصري ومهدي الحافظ.
Translation
Yet the importance of these reservations, the bill enjoys the support of many political leaders, members of the government and Parliament and advisers, who find the potential benefits of several of Iraq oil minister Hussein Shahrastani, Adel Abdul Mahdi, Barham Salih, Kamal Basri Mahdi Al-Hafiz.

3 hypotheses

The important question is permanent : What justifies the pressure to rush this legislation law? Is actually contribute to the achievement of national interests in the absence of a national strategy?

تستند وجهات النظر الراغبة في تشريع القانون إلى ثلاث فرضيات: الأولى، أن العمل بالقانون سيساهم في تمويل إعادة بناء الاقتصاد الوطني، وسيؤمن التوزيع العادل للثروة النفطية بين الأقاليم الفيدرالية، وسيدعم أسلوب الإدارة اللامركزية الكفيلة باستخدام العوائد النفطية لمصلحة جميع أفراد الشعب العراقي.
Translation
Based viewpoints interested in the legislation law on three propositions : first, that the law will contribute to financing the rebuilding of the national economy and will ensure equitable distribution of oil wealth between regions of federalism, and will support the decentralized management style to use oil revenues for the benefit of all the Iraqi people.

That vague and general nature of the relationship between federal and equitable distribution of oil resources requires patient acceptance of this premise, especially if we take into account the existence of proven oil reserves and huge potential in the oil fields extend across regions and even expected it spreading to the neighboring countries.

Current Constitution provides for the principle of fair distribution of oil wealth among citizens and territories, reassures political forces wishing to the federal government on the right of this wealth. However, the mechanisms proposed distribution formula in the law system of decision-making oil more complicated matters rather than simplified, in particular to the frontiers of territories target, and potential oil reserves are still subject to change and not agreed upon. Here is the reference to the experience of Nigeria, which is one of the important oil states and an active member of the organization «OPEC».

Nigeria opted for a federal system since independence in the early 1960s of the last century, but this federation, which began three regions now has more than 25 provinces a result of conflicts and civil wars, which were not oil companies operating in the world (Shell and TotalFinaElf Ajebe) isolation.

Despite the magnitude of the oil proceeds obtained during the past four decades, almost half the population now live below the poverty level ($ 2 daily income), and the child mortality rate and the illiteracy rate put the country at the bottom of the classifications used internationally. As Nigeria is today in the forefront of countries dominated by corruption, theft and financial crime. Linking the federal system, fair distribution of oil revenues underscored by the views wishing to bill the new oil and gas not necessarily mean reiterated Iraq's unity and stability.

The second hypothesis, based on the allegation that allowed for the time being to enter the international oil companies to the oil sector will help attract foreign investment and advanced technology necessary for the rehabilitation and development of this sector, which has suffered much from the policies of the previous dictatorship, the wars and painful years of embargo.

Vbray government that the new law will help to develop capacity in the Iraqi oil industry and increase oil production and financial dividends. But this justification does not clarify the reasons that push global oil companies to invest in the oil sector and the country is drowning in political and security crises violent. The real motives for the overwhelming desire of corporate assets, in a nutshell, the expansion of oil and facilitate their access to more funding in the international capital markets, and diversify geographically these assets to minimize risks they might be exposed.

As for the argument about the development «Iraq's capability of self-« is nebulous concept. There is no debate about the fact that Iraq's oil wealth tremendous all standards, and there is no need for international support necessary at the present time to rehabilitate. Iraq has 112.5 billion barrels of oil reserve uncertain (11% of total world oil reserve), high-quality and cost-reduced, making it second only to Saudi Arabia at the global level.

Estimates also suggest that the potential oil reserves of 214 billion barrels, and this in itself would be an important source of huge profit potential, covet oil companies to obtain and at the expense of future generations of Iraqis. This expectation existed before the occupation of Iraq.

Why the increase in production?

Ranging Energy Iraq's crude oil production between 1.8 and 2.0 million barrels per day at present. And whether there is a need to increase this capacity to the level of three million barrels a day, the funding required is estimated at only $ 1 billion can be secured. That is, to achieve this increase does not justify the involvement of global companies in the national oil reserves at the present time, the country receipts from the sale of oil exceeded $ 35 billion last year, has increased this year.

Well, what justifies accelerate the upgrade Iraq's oil production is at the present time in terms of the national economy is still limited to the absorption of its oil revenues stood. This is reflected in the fact that most of the ministries, as a result of mismanagement and the deterioration of security conditions, in the tunnels of financial resources allocated to them under the «National Strategy previous 2005-2007», the report stressed that the Baker-Hamlton on Iraq.

It is asked in this area, the role of the Central Bank of Iraq and the negative ambiguous on the issue of neutralizing the effects of the continuous rise in oil revenues on the supply of liquidity and rising inflation, when the State can not spend a productive manner. What justifies the continuing accumulation of reserves of Iraq's foreign exchange deposited mainly in American banks, which now exceed $ 21 billion, at a time when the unemployment rate over 50% of the labor force.

The third hypothesis, it might be argued some of those who support the current version of the oil and gas that will transform the Iraqi economy to a market economy because of the absence of the private sector and national. The very low level of development of the non-oil productive sectors such as agriculture and industry, encouraging foreign companies to invest in these activities. Therefore, to facilitate the work of oil companies is a logical and attractive alternative.

If we leave the political factor behind the positions of the government and parties participating in government and the opposition. the most important project is to discuss strategic error, which is located by supporters of the law and overlook him Against professionals in the petroleum industry is the implicit belief that the dominance of the oil sector and the state's reliance on large oil revenues mean that the bill Oil and Gas 2007, but we consider representative of the oil policy, is determined by the objectives of the plans and economic policies of the State. Proceeds oil is not only a means to finance public investment, which is part of macro-economic policies designed to achieve the strategic objectives of economic and development of the State.

This is not surprising when we note the absence of oil policy in particular, the new economic policy in general, in positions of the parties and political leaders and professionals involved in the government now and in the opposition to Saddam's dictatorship. Rectifying the details of the new oil and gas business and how decision-making production and investment in the management of production, marketing and exploration is necessary, but it comes after research in the strategic economic and appropriate development.

The ongoing discussions on the bill on oil and gas 2007 reflected one manifestation of the conflict to dominate the most important resources of the country in which the ruling power to use them in achieving their objectives.

Because oil wealth owned by all Iraqis and very necessary in the economic and social development and long-term, it is a serious mistake to undertake the goals of Iraqi society, which can not be divided and addressing requirements achievable way of sharing political or national or ethnic or commercial, or by ensuring that the special interests.

Al-Warkaa Bank capital increases to $40
Translated by IRAQdirectory.com - [03/06/2007]

The General Assembly of the Iraqi Bank, Al-Warkaa for Investment and Finance, approved a recommendation to move 20 billion Iraqi dinars from the accumulated surplus and development reserves into bank capital, raising it from 31 billion to 51 billion Iraqi dinars ($40.5 million), an increase of over 64% in its current capital, through a proportional dividend of new shares to existing shareholders.

According to one of the bank's investors, Hamza Hellbon, this increase is significant considering the overall situation in the Iraqi banking sector and current security difficulties. He said this capital increase can "restore investors' confidence that the sector can overcome difficult circumstances if several conditions are met, notably security, stability and activation of the banking sector development resolutions."

Hellbon added, "Al-Warkaa Bank" is one of the banks that have proved their ability to overcome obstacles to growth, through addressing its financial position seriously and developing a good reputation. As a result, someone who invested at the 1999 founding of the bank has seen his shares appreciate by a factor of 100 [Ed. -an average annual compound growth rate of almost 78%].

The general budget of the bank rose from 437.39 billion dinars in 2005 to 532.82 billion dinars at the end of last year, as the amounts deposited in the bank (current accounts and deposits) are now 204 billion dinars. The bank currently has 55 branches in Iraq, including 19 in Baghdad and 36 others.

http://www.iraqdirectory.com/DisplayNews.aspx?id=3867

The amendment to the Constitution : all factions wanted to broaden the powers of the president

03/06/07

Within the continuous meetings of the amendment of the constitution before the date of submission of its final report to the House on the 15th of this month, the head of the Kurdistan Alliance bloc in Parliament d. Fouad Massoum that the proposal to hold a meeting of heads bloc, political leaders and heads of the major political parties will decide on the controversial points is that article 140 of the situation in Kirkuk and the sharing of oil wealth and water.

At a time in which the Secretary of the Iraqi Communist Party, Hamid Majid Moussa noted that the possibility of reaching a consensus on constitutional amendments available, the spokesman for the Iraqi Accord Front d. Salim Abdullah that all political parties want to avoid any political or constitutional crisis through discussions between the political blocs on the constitutional amendments.

The head of the Kurdistan Alliance bloc in the House of Representatives, Dr. Fouad Massoum said in press statements yesterday, Sunday, he sent a message to the Kurdish leaders, on the controversial contract from the viewpoint of members of the Kurdistan Alliance, which is not to find solutions for it in the constitutional amendments.

He added : Decade controversial from the viewpoint of Kurds focused on the budget and Peshmargas, and the theme of water and oil wealth, in addition to the fate and future of the city of Kirkuk, and said, the formula evolved on Article 111 of the Constitution on the subject of oil and sharing of oil wealth, is that oil and gas are the property of all the Iraqi people.

The federal government collected oil imports and distribution on all Iraqis equally according to the law of the state budget in a transparent and equitable proportion to the population distribution in the provinces, will also be moved quota set aside in the budget to the provincial and district territory is not linked to as an effective, transparent, as well as allocating a percentage of revenues to maintain productive compensation for the damage, and that a percentage (quota) for a specified period of the areas affected, including the disadvantaged and believes the balanced development of different regions in the country, and to regulate those formulas law.

The other said Hamid Majid Moussa, secretary of the Iraqi Communist Party (long) that the possibility of reaching a consensus on amendments to the Constitution available, and many of the points which was signaling that it was controversial to reach them through direct dialogue, The 15th of this month is the deadline for submission of the amendment of the constitution its final report to the House of Representatives.

Musa added that 50 amendments were introduced by mutual agreement, and put forward proposals on the powers of the President of the Republic, which is still under study, and in this regard pointed out that the powers of the President and other officials linked to the system of full political and adjusted according to this concept, but added : Apart from the acceptance of this idea, with the desire to maintain the current structure, there is a clear desire to expand the powers of the president, which is being developed by dialogue.

For his part, spokesman of the Iraqi Accord Front in the parliament d. Salim al-Jabouri that all political parties want to avoid any political or constitutional crisis through discussions between the political blocs, he told Salim (long), the accomplishments of the Commission amend the Constitution considerably, and a discussion of all the parties on the outstanding issues.

A spokesman for the Iraqi Accord Front, RUF's desire to transfer the powers of the President to legislative oversight, but returned and said that fixed formula not yet been decided.