I bring you much news today.
The recent news is almost too good to be true and is amazing.
Today is the third day of the Donor Conference. So once again many of these so called intel “gurus” had you running down that rabbit hole with expectations that the RV would happen prior to the start of the Donor Conference. Really? Well it didn’t! What I want to know is this – Who told these “secret” sources this would happen before the conference. The fact is noone of any importance did and it is their best guess just as it is our best guess. But it is all now a moot point anyhow since it didn’t happen.
So the RV did not happen by Sunday, as expected. The conference has started on Feb 12 and will run until Feb 14th. What next?
I can see we can expect more of the same investment strategy for Iraq. The news now is all about investing in Iraq and part of that investment is the rebuilding of Iraq and moving it to a “market economy” driven by the private sector.
We must think of the Donor Conference in Iraq as a piece to the puzzle for accomplishing these goals. Again I am saying this is not the end in itself. This is not the first of its kind but certainly it will be one that is important enough and timely enough. Remember Iraq has had many investment seminars over these 11 years since I have been in this investment. Why is this one so important?
It is important due many reasons:
1) PM Abadi at the helm (political stability)
2) Honest intent to move forward (banking and financial reforms in place)
3) Investment laws in place allowing investors to come in
The investment law and its amendments are yet more pieces to the puzzle and were the banking reforms. So you can see each step they make brings them yet closer and closer to an economy that can grow.
But when will the economy take off?
Some believe they must first reconstruct the cities and allow businesses to come back in. I do not know the answer but if we THINK for a second, we can see that all they really need is to get to a point where they can guarantee that the launching of their new currency will not crash and they can maintain the rate. This is the extent they need. Personally, I believe that if they pulled the trigger today they would be just fine. I am saying this because their overall economy is now much better than prior to 1991 invasion. So could they technically trigger and survive? Yes, I believe they could.
But I am not in charge of the RV and so I do not matter.
So I thought you said the currency re-instated already? This was over a month already. How long will it take?
Honestly from what we are seeing it could literally show up on FOREX any day now if I didn’t know any better. But I still have reservations on this notion. If you are looking for some sort of sign here it is:
One sign is that the CBI must educate the general population on this next move with the project to delete the zeros. They told me many times they fully intend to use the news media to instruct them thru this change over process. We know this changeover process must happen just before, during or just after the need rate comes out. We know also about this time they plan to launch the lower category notes using the ATMs.
So when we hear good news that the Rafidian bank now has their ATMs online and working we get excited. See the significance? Also Rafidian bank is one of the largest of the banks in Iraq.
So when we hear that they already completed the paperwork and intent to re-instate their currency we get excited.
Interview: Iraq hopes to start new chapter after Kuwait conference
(Mnt Goat – will this “new chapter” include a re-instatement of the currency?)
by Jamal Hashim
BAGHDAD, Feb. 10 (Xinhua) — The Iraqi government hopes to start a new chapter in its economy and the life of the Iraqi people after the upcoming Kuwait’s international conference for reconstruction of Iraq, which follows the full defeat of Islamic State (IS) group in the country.
“In my view, the doors will open up to a new life for Iraq, that would compensate the Iraqi citizen after the great suffering from the war against Daesh (IS group),” Mustafa al-Hiti, head of the Iraqi fund for reconstruction of affected areas by anti-IS military operations, told Xinhua in an interview.
Hiti said that the Iraqi government would unveil more than 150 investment projects in different fields, in addition to offering a number of investment projects by the private sector…
Kuwait TV just announced on Tuesday morning that a closed door meeting was held, and the World Bank is endorsing Iraq now. They are guaranteeing all investors, 212 Investment Projects, and that Iraq is back to International Status.
Iraq signs a memorandum of understanding with the US Export Bank with a ceiling of 3 billion dollars
Release date: 2018/2/13
(Baghdad: Al-Furat News) Prime Minister Haider al-Abadi in Kuwait signed a memorandum of understanding between the Republic of Iraq and the Bank of American exports on the provision of credit facilities.
“Ebadi is sponsoring in Kuwait the signing of a memorandum of understanding between the Republic of Iraq and the Bank of American Exports on the provision of credit facilities with a ceiling of 3 billion dollars for companies operating in Iraq,” a statement from his office said.
WORLD BANK: IRAQ IS THE BEST PLACE TO INVEST IN THE WORLD
(Mnt Goat – this is a WOW article when the IFC recommends anything)
The International Finance Corporation (IFC), the private sector arm of the World Bank, has urged international companies to overcome their concerns about financing reconstruction projects in Iraq and CAPITALIZE ON HIGH-YIELDING INVESTMENT OPPORTUNITIES there.
“As the country emerges from a devastating three-year war against ISIS, I do not think anywhere in the world there are such opportunities for investment,” said Ziad Bader, head of the INTERNATIONAL FINANCE CORPORATION’S MISSION IN IRAQ, in a speech at Kuwait Chamber of Commerce and Industry.
“IFC has investments of about $ 1.2 billion in various projects in Iraq, including banks, cement factories and telecommunications companies, and is preparing to announce an investment of $ 250 million in a telecommunications project,” he said.
SPEAKER SALIM AL-JABOURI CALLS 2018 IRAQI BUDGET BILL ‘UNCONSTITUTIONAL,’ REJECTS TO PASS IT
ERBIL, Kurdistan Region — The speaker of Iraq’s parliament said on Monday that the Council of Representatives will not pass the 2018 budget bill as it is “unconstitutional” and “illegal.”
Speaking at a press conference Salim al-Jabouri said the parliament will not approve cutting the salaries of civil servants. He added that the 2018 budget bill is “illegal” and “unconstitutional,” thus rejecting it…
(Mnt Goat – I am fully aware that this is contradictory news from what Jabouri just told us late last week and what I posted below. Go figure.
I do not believe that this article is FACTUAL and is just negative propaganda [for some reason someone is trying to stir everyone up]. I can’t see how they can come this far and then, the day they are supposed to vote and pass it, he comes out with this statement? )
SALIM AL-JUBOURI, THE SEARCH FOR CONSENSUS ON THE PASSAGE OF THE FEDERAL BUDGET
BAGHDAD / Sabah
Shaimaa Rashid Speaker of the House of Representatives, Salim al-Jubouri, the search for consensus on the passage of the federal budget, stressing at the same time on the aspiration of Iraq to support and support friendly countries through active participation in the file of reconstruction. Jubouri said in a press conference in response to a question for “morning”: “Parliament is keen to pass the draft budget law according to consensus, but delayed because of the problems that accompanied and prevented the achievement of consensus,” noting that “the draft budget law will be included in the agenda of future meetings and Guidance in a technical discussion with the Prime Minister, involving the presidency of the Council and the Finance Committee and representatives of the provinces. Jubouri pointed out that “the direction of Parliament at the moment is to cancel the retirement of employees in the budget of 2018,” pointing out that “the revised budget did not include any of the amendments demanded by the political blocs.”
“Jubouri said that” Prime Minister Haider Abadi, showed flexibility in discussing amendments to the federal budget law, while revealed the establishment of 100 lawsuits against the House of Representatives during the current session. ”
Iraqi Prime Minister Haidar al-Abbadi said that reconstruction will create thousands of jobs for Iraqis, POINTING TO A PLAN THAT IRAQ WITHIN THE TWENTIETH LARGEST ECONOMIC GROUP IN THE WORLD.
Formal Articles are below. Due to FACEBOOK limitations they do not print my RED colored fonts or italics, so my comments are in brackets ( ) throughout the articles. I will preface my comments with “mnt Goat” so you know I am jumping in with observations. Also, I separated the articles with asterisks.
UN UNVEILS TWO-YEAR PROGRAM TO HELP REBUILD IRAQ
The United Nations said Monday it HAD PREPARED A TWO-YEAR PROGRAM TO HELP THE IRAQI GOVERNMENT REBUILD RECONSTRUCTION OF THE DEVASTATED AREAS.
(Mnt Goat – So it looks to me the idea of a Marshal Plan like from WWII to rebuild Europe did not going to work. This is probably for the better since ISIS invasion was not the fault of the US or its allies. If anything, Iraq contributed to letting ISIS infiltrate, along with the aggravated sectarianism and lack of support given to the Sunnis by the 8 years of the Nori al-Maliki administration. Also the lack of effort on his part to rebuild and nationalize the Iraq Army. So why should the US fork the bill again for their political instability and lack of their own Security? As President Trump has said “the US is no longer a nation builder”. Honestly I still believe ISIS was brought on intentionally to wake up Iraq and get them moving in the right direction. I think they finally see the light, as least many do.)
“The Kuwait conference provides a key platform to reaffirm the importance of voluntary, safe and sustainable return of displaced Iraqis as well as to raise resources to support the government’s efforts to achieve this goal,” said UNHCR Representative Bruno Gedo in a statement received by Mawazine News. This in turn is an integral part of broader plans in the United Nations system to support the Iraqi authorities in rebuilding the country. ”
“The conflict has ended on a large scale, but the legacy of this conflict remains. Events that have been revealed during the years of extremist control have left a sudden imprint on the Iraqi scene and in the hearts of the Iraqi people. The effects of the past years are still present throughout the country. “He said.
“There are severely affected cities, scattered communities and a generation of children at risk of being lost, with about 2.6 million displaced Iraqis,” he said. “In order for Iraq to advance, people must be able to return home.”
“The return of 3.3 million displaced people to their homes despite the difficult circumstances,” the UN official said, noting that “return is not just a return to homes but a return to society.”
“To support Iraq in this transitional phase, the United Nations agencies have set up a two-year recovery and resilience program. To achieve this program, we must ensure that adequate resources are available to accomplish this task,” he said. “Kuwait is a unique opportunity for us to present our plans to donor countries. And to encourage the private sector to increase investment. ”
The Iraqi government announced that its plan for the Kuwait conference will be on three axes. “The first is to contribute to the rehabilitation of infrastructure throughout Iraq, restore stability to the affected areas and develop the service sector.”
SHAFAQ NEWS / MINISTRY OF ECONOMY AND FINANCE IN THE KURDISTAN REGION ANNOUNCED THE DISTRIBUTION OF SALARIES OF EMPLOYEES IN THE REGION
A statement by the ministry said that on Tuesday 13/2/2018, salaries will be distributed to:
Presidency of the region
Presidency of Parliament
Presidency of the Council of Ministers
Council of Justice
KUWAIT’S INTERNATIONAL CONFERENCE ON IRAQ’S RECONSTRUCTION WILL BE THE START OF A STABLE AND SECURE IRAQ
(Mnt Goat – Oh, just wait one second now! Did they tell us that ISIS invasion is what made Iraq so unsecure? Was it not the political instability also that mattered? Has not all this changed with PM Abadi and the victory over ISIS? Isn’t the war on terrorism over in Iraq? So now the reconstruction is the start of the needed Stability and Security? )
Economy News Baghdad
BAGHDAD (Reuters) – Kuwait’s international conference on Iraq’s reconstruction will be the start of a stable and secure Iraq, Iraqi parliament speaker Salim al-Jubouri said on Monday.
In a press statement following his meeting with French Foreign Minister Jean Eveludrian, Al-Jibouri called for mobilizing international support for investment in his country through the conference, pointing out that IT IS AIMED AT OPENING UP AT THE REGIONAL AND INTERNATIONAL LEVELS ACCORDING TO A NEW VISION to prepare for the stage of construction and reconstruction.
He also called for the return of displaced people to their liberated areas to be given the greatest attention through the reconstruction of their cities devastated by terrorism. He said that the Da’ash attacks had caused economic, social and environmental impacts that threatened social stability in the areas under his control.
He added that Iraq IS LOOKING FORWARD TO THE INTERNATIONAL COMMUNITY’S ASSISTANCE IN THE RECONSTRUCTION AND REHABILITATION OF THE LIBERATED AREAS through participation in the conference of reconstruction in Kuwait, which will be the beginning towards a secure and stable Iraq.
The two sides discussed the bilateral relations between Iraq and France and ways to strengthen them to ensure the interests of the two friendly peoples, as well as to review the latest security and political situation in the region and the world
UNITED STATES HAS NO INTENTION OF DONATING TO REBUILD IRAQ
WASHINGTON (Reuters) – The United States has no intention of donating to rebuild Iraq, but will rely on contributions from other countries, especially the Gulf, a US newspaper said on Monday.
The military campaign that led to the defeat prompted a $ 45.7 billion deficit in homes, power plants, schools and other civilian infrastructure, according to a new assessment by experts from the World Bank and the Iraqi government.
According to The Wall Street Journal, teams of experts have been studying satellite images, field visits and a close look at social media to prepare and prepare the report, the most comprehensive record of the destruction caused by three years of war .
“Iraq is emerging from a devastating phase of war and violence. The main concern is the restoration of productive means to earn the livelihood of millions of people in agriculture, services and industry. ”
She pointed out that the fighting concentrated in most of the seven provinces of northern and western Iraq, considering that the failure of the Baghdad government in the reconstruction of these areas so that the return of its displaced people to rebuild their lives, “would leave them blown by extremist currents and exacerbate sectarian tension.
According to the assessment, the damage to the housing sector amounted to 16 billion dollars, while the losses of power plants and the energy sector amounted to 7 billion dollars. The education sector is estimated at 2.4 billion. Rehabilitation and reconstruction of schools is a priority in this country, which has an average population of 20 years. Most schools in Mosul, Ramadi and Falluja were destroyed.
The report assessed the damage by comparing the state of Iraq’s infrastructure in December 2017 with the situation before a pre-emptive attack on the country in 2014.
The cost of improving governance, modernizing the oil and gas infrastructure and other costs of the “recovery,” says the report, suggests that rebuilding the devastation of the war is costly. The amount needed by Sunni-majority areas will rise to $ 88.2 billion.
“It is not clear to what extent the conference will meet the needs of Iraq,” she said. “The United States is counting on its allies in the Gulf.” A senior US government official said: “There will be a need for funding. – from financiers and sovereign wealth funds and others in the Gulf, may play an important role in helping finance these projects by private sector companies inside Iraq.
The United States, which has spent billions of dollars on a war of war and aid to displaced Iraqis and Syrians, has no intention of donating to rebuild Iraq. Instead, the US Export-Import Bank intends to sign a memorandum of understanding to facilitate project financing, and although US officials have not set the value, it is expected to be about $ 2-3 billion.
The American newspaper concludes: “Recognizing that international donors are not racing to stand in line to contribute billions, as was the case in 2016 the day after the idea of the conference, the organizers (of the Kuwait Conference) went to rely on the private sector to secure investments.
TILLERSON ANNOUNCES US $ 800 MILLION TO IRAQ
Editorial Date: 2018/2/13
The United States has given Iraq $ 300 million as a line of credit and $ 500 million for the housing sector, US Secretary of State Rex Tilerson said.
(Mnt Goat – Surprise….Surprise!!!! Does the left hand even know what the right hand is doing in the USA. See article above this one.)
Their words not mine…..No Rumors, No Hype, No Opinions ,,,,,
Just the FACTS!
Disclaimer: All information in this newsletter is not intended for investment decisions / purposes. Mnt Goat is not a financial analyst, planner, banker, attorney or associated in any role with giving out professional investment advice.
In ending I want everyone to know your constant prayers in the fight against evil (ISIS) in Iraq have worked. God has guided these young men and women on the battle field. Let us all now also keep praying. I have composed a prayer maybe we can all pray today in our own way and until the revaluation occurs.
“For the prime minister and all his cabinet members, and parliament that they may be anointed by the Holy Spirit to do God’s will and bring the free Republic of Iraq to the much-deserved prosperity and abundance thru justice and freedom from oppression and corruption”. That they may be a shining example for the rest of the middle east and the world to follow. In the name of Jesus Christ our King and Savior, Amen”
Much love to ya all,