Thread: Iraq/Dinar News until 6/17/07 8:30 PM CST

Gains hegemony over the temptation of political reconciliation

(Voice of Iraq) - 14-06-2007

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For the leaders of the Iraqi
Iraqi affairs editor wrote :
The "New York Times" that the gains of American hegemony sought by Iraqi leaders have become more attractive to work to achieve national reconciliation between them, what they are not interested in achieving the conditions set by the American Congress as indicators of the success of President Bush's plan will be revised in September next.
The newspaper said in the report to its correspondent in Baghdad and published yesterday that the Iraqi leaders have failed to accomplish any of the laws that Congress requested legislation within the United conditions, which contains 18 items, de****e continuous pressure exerted by Congress and the White House and senior military commanders.
The paper noted that the Kurds have stopped the vote on a new oil law, frustrated with the Shiites (especially Ahmad Chalabi, using the paper as saying Sistani) bill supported former American Ambassador Zalmay on uprooting the Baath officials and reintegrating former Baathists in the government. It demands the year that includes anticipated amendment to the Constitution of major powers to the President, leading in turn to reduce the powers of the Prime Minister. It is believed that the next president of Iraq must be Sunni.
In all cases, according to the newspaper, there are doubts about the ability of the conditions laid down by Congress, in the event achieved in the remaining three months, to stop the escalating cycle of violence in Iraq.
The newspaper said the reason for the current political stalemate is believed Shiites and Kurds to achieve victory each is within reach, and that is why they are unwilling to make the concessions required by a political settlement. For this reason, the parties concerned had not been able to reach agreements Almkhaltv resolved key issues in the current Constitution, the Commission has not been able to amend the Constitution to accomplish its mission, which started last October, and referred in May, the problem once again to the political leaders of limited number, But they have not so far come together to discuss and resolve these issues, which revolve around the identity of Iraq and the conflict over resources and the authorities.
With the growing role of local communities, diminishing the role of the central government in Baghdad that no longer mean anything whatever in the provinces on the sidelines of conflicts taking place between local forces competing for control of public money and public jobs. But these provinces are in many cases providing Iran and the strong external forms of support and backing to do more than make and Baghdad.
She newspaper, note that the increase in American troops was mainly aimed at creating an environment of security help Iraqi leaders to achieve a political settlement : What is the next step if this plan fails?
The majority of officials in Washington and Baghdad to avoid talking about Plan B, but Iraqi officials acknowledge in their conversations that their days are full of frustration and anxiety. The number of those working to enter into local alliances entail risks with the rebels or former rebels in order to fight Al Qaeda.
Kuwaiti homeland

Translated version of http://www.sotaliraq.com/

Invitation to a partnership between the private in Iraq to reform

(Voice of Iraq) - 14-06-2007

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News Analysis-Calling for a partnership between the sectors in Iraq to reform of the banking system and monetary policy

Mahdi Al-Hafiz life-14/06/07 / /

One of the most prominent tasks facing Iraq in the current transitional phase, the follow-up program of economic reforms on all levels in order to increase economic growth and enhance the role of the private sector and address the chronic imbalances in several areas, in particular monetary and fiscal policy as well as create jobs and reduce poverty area. This requires improving the efficiency of public administration and institutions and effectiveness through the development of means and methods aimed at developing human resources and the widespread use of modern innovations in information and communication technology and modern management.

There is no doubt that the reform of public administration targeted several areas, caused by the heavy legacy suffered by Iraq and the policies resulting from the work of the former Central and methods, coupled with the isolation and away from the global economic system. Moreover, the continued deterioration of the security situation and lack of stability and the slowdown in the application of reforms, adopting unilateral policies are incompatible with the quality characteristics of the Iraqi state.

Although the tasks of reform is just as a matter of principle and orientation from those that arise in the transition economies (Transitional Economy), but Iraq is the need to focus on the following :

Address the excessive size of the public sector and the weakness of effectiveness, since the bulk of the structural economic sector based on the institutions and companies owned by the State (some 192 companies, business, industrial, agricultural) As a result, finding suitable formulas to reduce the volume of through privatization or appropriate rehabilitation to ensure the effectiveness of these projects, efficiency and profitability of businesses.

(Economic diversification ) - Create the appropriate environment to enable the private sector to play a leading role in the national economy through reforms of the legal, administrative and financial, or other words secure environment conducive to the activities of the Special (Business Environment) hand, the adoption of a long-term strategy to diversify the national economy (Economic diversification) on the other hand.

Providing the appropriate atmosphere and the necessary means to strengthen the links between the Iraqi economy and the global economy and to break the isolation chronic factors suffered by many decades. Perhaps the fiscal and monetary policy and banking sector highlight at the forefront of economic reforms desired, given the importance of the direct role of the private sector in the national economy, stimulating economic growth and addressing the dilemmas of unemployment, inflation and raise the standard of living, and other issues of macroeconomic reform Macroeconomic Reforms, and this is what we are seeking to address in this contribution.

Reform of fiscal and monetary policy and the development of the banking sector, that the priorities of economic reform requires strengthening of the partnership between the private sector and public sector, to develop the country's public administration on the basis of modern players and free from bureaucratic constraints and the old concepts. The financial sector reform, monetary and banking system are an important venue, consequently, to adapt the bilateral relationship between the private and public sectors in the direction of promoting industries and small and medium-sized enterprises and expansion, and contributing to the diversification of the national economy in the long run.

It is known that several actions taken in recent years to remove the imbalances in the fiscal and monetary policy and the reform of the state budget, mainly to reduce the current expenditure (Current Expenditure) for the benefit of investment spending, through the gradual elimination of the so-called manufacturing expenses represented substantial support (Subsidies) provided by the State for more than a few goods and services. The reforms aim to liberalize prices ultimately address distortions in the pricing system as one of the pillars of market mechanisms, as well as reducing the deficit in the state budget.

Stand-by Arrangement However, the most important part absent in this package of reforms in the agreement concluded between Iraq and the IMF Stand-by Arrangement does not provide a solution to the dilemma of total reliance on oil revenues as a basis for financing the state budget and other economic activities (the share of oil revenue more than 90% of the balance resources State, also constitute more than 60% of GDP).

De****e the reform steps taken in the area of reduced support, but the economic consequences are still heavy for the economic hardships faced by the citizens, as is the direct cause of the reasons for the increase in inflation in the country. It is possible cuts to support other arrangements according to the reform with the International Monetary Fund before the end of the current year, will lead to a lot of new citizens unless the problem of low incomes and high rates of inflation.

The monetary policy witnessed significant reforms in recent years, was in the issuance of a new law on the Central Bank of Iraq aims to preserve its independence and its role in the transition to a market economy established as a pillar of the transitional tasks of the national economy. As the national currency, the new unified, in addition to taking steps to promote successful international reserves of the national currency, enabling Iraq to achieve this objective, which now has $ 17 billion reserve currency, a phenomenon that had not been officially recorded since 1980, when the size of the reserve about 40 billion dollars.

However, the monetary policy announced by the Central Bank and based on the recently increased interest rates on deposit and lending, created a difficult situation for the private sector and went to increase investment and the development of small and medium enterprises.

Tight Policy Politics strict practice Tight Policy weakened the chances of partnership between the private and public sectors and the potential to increase economic growth and address the problem of unemployment and other necessary tasks. It is essential for the state and public institutions, in the current conditions in Iraq, to adopt monetary policy believes generous banking facilities to enable the private sector to contribute to economic growth and expansion of activities. The argument put forward to justify this policy is deflationary, it is not acceptable to economists and businessmen organizations. While recognizing the need to reduce inflation, which rose at the end of last year, leading to a deflationary policy consequences are serious recession and low investment and not to contribute to securing employment in a country where unemployment exceeding 50%.

It must be stressed that inflation problems, isolation from the rest of the problems plaguing the economy, lead to a one-sided view of the rule instead of a comprehensive national strategy for development and reform. Measures taken to counter inflation lead to the deepening recession and the weakening of the role of the private sector and deprived of banking facilities for the development of its activities and increase investments.

It should be noted that the interest rate announced by the Central Bank amounted to 23% recently, which is not allowing the possibility of expansion in bank lending and deprive investors of the benefits of national channel financing mainly led to the suspension of projects and plans of many private sector was working to implement.

Monetary Theory Indeed, the political CBE deflationary monetary theory guided Monetary Theory classical adopted by the International Monetary Fund, which have caused problems and serious economic consequences at the expense of expansion in the economic growth and development of the national investment and address the problems of unemployment and poverty. More correctly, in this area build theoretical development aimed at addressing the economic problems and achieve reforms College into a single package and interdependent. From here we can see that a deflationary policy does not serve to strengthen partnerships with the private sector to develop the national economy.

And then comes the reform of the Iraqi banking urgent task to find an effective market economy and strengthen partnerships with the private sector to achieve economic priorities put on the national agenda. In sum, the banking industry is operating in Iraq at the present time in the form of sound, and lead banks, the primary function of financial intermediaries.

Noting the availability of huge liquidity in the banking system must be transformed into private hands by way of bank lending.It also has banking practices ancient strain of the industry at a time when new problems. In addition to highlighting the urgent need to develop training programs and building institutional and human capacities, to enable the banking sector to play its desired. It must recognize the need to update the level of implementation mechanisms and performance through effective integration with the global economy.

An economist and former Iraqi Minister

Translated version of http://www.sotaliraq.com/

Originally Posted by Hkp

Invitation to a partnership between the private in Iraq to reform

(Voice of Iraq) - 14-06-2007

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Send this topic to a friend

News Analysis-Calling for a partnership between the

sectors in Iraq to reform of the banking system and monetary policy

Mahdi Al-Hafiz life-14/06/07 / /

One of the most prominent tasks facing Iraq in the current transitional phase, the follow-up program of economic reforms on all levels in order to increase economic growth and enhance the role of the private sector and address the chronic imbalances in several areas, in particular monetary and fiscal policy as well as create jobs and reduce poverty area. This requires improving the efficiency of public administration and institutions and effectiveness through the development of means and methods aimed at developing human resources and the widespread use of modern innovations in information and communication technology and modern management.

There is no doubt that the reform of public administration targeted several areas, caused by the heavy legacy suffered by Iraq and the policies resulting from the work of the former Central and methods, coupled with the isolation and away from the global economic system. Moreover, the continued deterioration of the security situation and lack of stability and the slowdown in the application of reforms, adopting unilateral policies are incompatible with the quality characteristics of the Iraqi state.

Although the tasks of reform is just as a matter of principle and orientation from those that arise in the transition economies (Transitional Economy), but Iraq is the need to focus on the following :

Address the excessive size of the public sector and the weakness of effectiveness, since the bulk of the structural economic sector based on the institutions and companies owned by the State (some 192 companies, business, industrial, agricultural) As a result, finding suitable formulas to reduce the volume of through privatization or appropriate rehabilitation to ensure the effectiveness of these projects, efficiency and profitability of businesses.

(Economic diversification ) - Create the appropriate environment to enable the private sector to play a leading role in the national economy through reforms of the legal, administrative and financial, or other words secure environment conducive to the activities of the Special (Business Environment) hand, the adoption of a long-term strategy to diversify the national economy (Economic diversification) on the other hand.

Providing the appropriate atmosphere and the necessary means to strengthen the links between the Iraqi economy and the global economy and to break the isolation chronic factors suffered by many decades. Perhaps the fiscal and monetary policy and banking sector highlight at the forefront of economic reforms desired, given the importance of the direct role of the private sector in the national economy, stimulating economic growth and addressing the dilemmas of unemployment, inflation and raise the standard of living, and other issues of macroeconomic reform Macroeconomic Reforms, and this is what we are seeking to address in this contribution.

Reform of fiscal and monetary policy and the development of the banking sector, that the priorities of economic reform requires strengthening of the partnership between the private sector and public sector, to develop the country's public administration on the basis of modern players and free from bureaucratic constraints and the old concepts. The financial sector reform, monetary and banking system are an important venue, consequently, to adapt the bilateral relationship between the private and public sectors in the direction of promoting industries and small and medium-sized enterprises and expansion, and contributing to the diversification of the national economy in the long run.

It is known that several actions taken in recent years to remove the imbalances in the fiscal and monetary policy and the reform of the state budget, mainly to reduce the current expenditure (Current Expenditure) for the benefit of investment spending, through the gradual elimination of the so-called manufacturing expenses represented substantial support (Subsidies) provided by the State for more than a few goods and services. The reforms aim to liberalize prices ultimately address distortions in the pricing system as one of the pillars of market mechanisms, as well as reducing the deficit in the state budget.

Stand-by Arrangement However, the most important part absent in this package of reforms in the agreement concluded between Iraq and the IMF Stand-by Arrangement does not provide a solution to the dilemma of total reliance on oil revenues as a basis for financing the state budget and other economic activities (the share of oil revenue more than 90% of the balance resources State, also constitute more than 60% of GDP).

De****e the reform steps taken in the area of reduced support, but the economic consequences are still heavy for the economic hardships faced by the citizens, as is the direct cause of the reasons for the increase in inflation in the country. It is possible cuts to support other arrangements according to the reform with the International Monetary Fund before the end of the current year, will lead to a lot of new citizens unless the problem of low incomes and high rates of inflation.

The monetary policy witnessed significant reforms in recent years, was in the issuance of a new law on the Central Bank of Iraq aims to preserve its independence and its role in the transition to a market economy established as a pillar of the transitional tasks of the national economy. As the national currency, the new unified, in addition to taking steps to promote successful international reserves of the national currency, enabling Iraq to achieve this objective, which now has $ 17 billion reserve currency, a phenomenon that had not been officially recorded since 1980, when the size of the reserve about 40 billion dollars.

However, the monetary policy announced by the Central Bank and based on the recently increased interest rates on deposit and lending, created a difficult situation for the private sector and went to increase investment and the development of small and medium enterprises.

Tight Policy Politics strict practice Tight Policy weakened the chances of partnership between the private and public sectors and the potential to increase economic growth and address the problem of unemployment and other necessary tasks. It is essential for the state and public institutions, in the current conditions in Iraq, to adopt monetary policy believes generous banking facilities to enable the private sector to contribute to economic growth and expansion of activities. The argument put forward to justify this policy is deflationary, it is not acceptable to economists and businessmen organizations. While recognizing the need to reduce inflation, which rose at the end of last year, leading to a deflationary policy consequences are serious recession and low investment and not to contribute to securing employment in a country where unemployment exceeding 50%.

It must be stressed that inflation problems, isolation from the rest of the problems plaguing the economy, lead to a one-sided view of the rule instead of a comprehensive national strategy for development and reform. Measures taken to counter inflation lead to the deepening recession and the weakening of the role of the private sector and deprived of banking facilities for the development of its activities and increase investments.

It should be noted that the interest rate announced by the Central Bank amounted to 23% recently, which is not allowing the possibility of expansion in bank lending and deprive investors of the benefits of national channel financing mainly led to the suspension of projects and plans of many private sector was working to implement.

Monetary Theory Indeed, the political CBE deflationary monetary theory guided Monetary Theory classical adopted by the International Monetary Fund, which have caused problems and serious economic consequences at the expense of expansion in the economic growth and development of the national investment and address the problems of unemployment and poverty. More correctly, in this area build theoretical development aimed at addressing the economic problems and achieve reforms College into a single package and interdependent. From here we can see that a deflationary policy does not serve to strengthen partnerships with the private sector to develop the national economy.

And then comes the reform of the Iraqi banking urgent task to find an effective market economy and strengthen partnerships with the private sector to achieve economic priorities put on the national agenda. In sum, the banking industry is operating in Iraq at the present time in the form of sound, and lead banks, the primary function of financial intermediaries.

Noting the availability of huge liquidity in the banking system must be transformed into private hands by way of bank lending.It also has banking practices ancient strain of the industry at a time when new problems. In addition to highlighting the urgent need to develop training programs and building institutional and human capacities, to enable the banking sector to play its desired. It must recognize the need to update the level of implementation mechanisms and performance through effective integration with the global economy.

An economist and former Iraqi Minister

Translated version of http://www.sotaliraq.com/

ok so go ahead and reval the thing already..this would take care of it all!!!

Sorry if already posted!!


Energy - Oil & Gas

Adviser worried about Iraqi oil deal
By BARRY SCHWEID

--------------------------------------------------------------------------------

13 June 2007 (AP Worldstream)
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A drafter of stalled Iraqi legislation to set ground rules for the country's oil policy said Tuesday "there is no sign of a compromise" that would lead to final approval by the parliament.

The pessimistic assessment by Tariq Shafiq, who runs a petroleum consulting firm in London and offered his advice to the Iraqi government, conflicted with frequent forecasts of a breakthrough by Iraqi officials.

Shafiq blamed the holdup on a lack of security in Iraq, where he said "people do not know if they are going to live the next day," as well as on corruption.

Under Prime Minister Nouri al-Maliki, "we are now in a worse situation than a year ago," he said at a news conference at the Center for Strategic and International Studies, a Washington think tank attended by several American oil company officials.

Iraq is one of the world's leading oil producers. It has proven reserves of 115 billion barrels of petroleum, third in the world behind Saudi Arabia and Iran, and the potential for nearly doubling that amount in an oil-thirsty world.

If approved, the new law — Shafiq helped draft the original legislation — is expected to encourage foreign oil companies to invest in Iraq and spur the country to attain its goal of doubling current production of 2.5 million barrels a day by 2010.

Iraq's oil infrastructure has been under repeated attacks from insurgents. Shiites and Kurds dominate the two major oil regions in southern and northern Iraq and are resisting national control, Shafiq said.

"A compromise must be found" to balance regional interests with the responsibility of the federal government to be the "custodian" of the country's resources, Shafiq said.

Last week, oil ministry spokesman Assem Jihad said, "We hope the ratification of this law will be achieved in no more than one month from now."

"This law is considered a major national project and achievement," he told The Associated Press.

Asked if he agreed, Shafiq said, "I wish I shared the optimism of the minister. I am not very optimistic."

Beneath Curfew, Crisis Mounts After Bombing
Militas Poised; Opposition Questions Timing of Blasts; Calls for Resignations
Posted 1 hr. 0 min. ago

Wednesday’s explosions demolishing the two minarets around Samarra’s revered al-Askari shrine, revered by Shi'a faithful, have touched off several swift political, military, and militia reactions across Iraq. Amid appeals for calm, the largest Shi'a militia is armed and ready, sources report, and clashes broke out in a number of areas in Baghdad before a curfew was imposed. Meanwhile, prominent opposition groups point the finger at the government, calling the timing of the attack highly suspicious, and call for the resignation of high-level officials.
The Iraqi capital is now under curfew, virtually shutting down the city, Slogger sources report from Baghdad. The government has not announced the length of the restrictions on movement, but it is certain that an indefinite curfew will not solve the political crisis.
Many of Iraq’s major newspapers are not expected to publish domestic editions on Thursday, as the curfew has blocked the possibility of reporting and distributing print editions.
Reprisal attacks against Sunni mosques are reported around the country, with details still hazy amid the tension and restrictions following from the Samarra blasts.
Mahdi Army waits for “green light”
Clashes broke out with news of the bombing, Slogger sources report from Baghdad. In Mansour district, on 14th of Ramadan Street, US forces and Mahdi Army fighters clashed for approximately half an hour, residents informed IraqSlogger.
On Wednesday evening, clashes also erupted in Baghdad’s lawless southwestern districts, strongholds of both the Mahdi Army and Sunni militants, who have fought a deadly turf war for months. Locals report that US warplanes used airstrikes on the battle zone in an attempt to end the clashes.
With the news of the Samarra bombing, Mahdi Army members gathered in Shi'a mosques (Hussayniat) around the city, carrying their weapons, according to local witnesses. Sources told IraqSlogger that the Mahdi Army is waiting for the “green light” from Muqtada al-Sadr to strike out at the militia’s two foremost enemies, Sunni extremist militants and the US military, both of which the Sadrist current holds responsible for the Samarra attack.
The Mahdi Army has not come out in full force since loyalists in the militia followed Muqtada al-Sadr’s orders to lay low during the launch of the Baghdad security plan in mid-February 2007, although many Mahdi Army members have been involved in many armed clashes in restive areas of the capital and across Iraqi territory.
Mahdi Army strongholds in the capital are “ready and prepared,” locals report, informing IraqSlogger of a tension around the city on Wednesday as Iraqis braced for the worst.
With the curfew in place, Slogger sources report a tense calm across the city. After the February 2006 bombing of the Samarra’s Golden Dome, Sadr loyalists defied the government curfew in large numbers.
Especially tense are the remaining Shi'a areas of predominantly Sunni western Baghdad, including al-Harthiya, al-Bayya', and al-Mansour, where fighting between Mahdi Army members and residents told Slogger.
Across the Tigris river, the Mahdi Army stronghold of Sadr City was relatively calm today, locals informed IraqSlogger, but with signs of
Interior ministry commandos have been deployed around mosques and Shi'a Hussayniyat in Baghdad, al-Melaf reports in Arabic, and a heavy Iraqi Army and Police presence is moving throughout the city. American vehicles are also reported to be traveling rapidly down the empty streets of the city.
Maliki responds
Prime Minister Nuri al-Maliki, who appeared on state television shortly after the blast to appeal for calm, traveled to Samarra with US ground forces commander Lt. Gen. Raymond Odierno, at the site of the damaged shrine, to visit the ruins, the AP reports.
The Iraqi prime minister has announced the formation of an investigative committee, charged with the investigation of the circumstances of the targeting of the two minarets in Samarra.
Maliki also detained the officials responsible for security at the mosque for interrogation, as reported earlier, and the AP reports arrests ongoing in the city.
Maliki called for self-restraint, pointing the blame at al-Qa'ida for the Samarra attack, and called for Iraqis to direct any violent response against that organization specifically.
The PM also said that the attacks came two days before the planned beginning of reconstruction of the shrine in Samarra, which houses the tombs of two revered Shi'a Imams, and saying that the most recent attack would cause the government to heighten its guard of the shrine. However, the same timing that the prime minister referred to was siezed upon by prominent opposition groups to question the government's role.
The Iraqi PM called for Iraqis to be aware of the risks of sectarian strife, and warned Iraqi citizens against the “spread of the criminal acts” to other areas, calling for the protection of religious sites and mosques from those who seek to spread sectarian conflict.
Many of the holiest sites specific to Shi'a Islam are located in Iraq, and the protection of sacred shrines in Karbala, Najaf, Samarra, Kufa, and Baghdad’s Kadhimiya district have been heated political and security issues since the 2003 US invasion.
Sadrists press political demands
On Wednesday, Sadrist MPs demanded the replacement of the Interior and Defense ministers, al-Melaf reports in Arabic, citing their concern after the most recent Samarra attack, the general security disorder in the country, and the “lack of progress” in the security plan, and claiming that their demand would hold the officials to their commitments.
As reported earlier, the Sadrist bloc has announced a full suspension of the participation of its 30 MPs in the Iraqi parliament, demanding that the government rebuild the site.
Sadr has called before for the government to rebuild the dome of the al-Askari shrine, most recently in his Friday sermon in Kufa in late May, his first public address after months in hiding.
Muqtada al-Sadr issued a statement after the attack, claiming, as reported, that no Sunni or Muslim could be responsible for the bombings, and pointing the finger at the US occupation.
In the statement, the full text of which was distributed online in Arabic, Sadr points the finger at a plan by the occupation to spread sectarian discord among the Iraqi people. Sadr calls for the Iraqi people to “make the American-Israeli design fail” in its aim to spread sectarian discord among the Iraqi Muslims, and asks “Where is the government of Iraqi government to protect these two tombs? And where is it to rebuild these two holy tombs?” Instead the government has “aided the occupier in striking cities, and forced migration, and raids,” the cleric says.
"It is incumbent on all the religious and political forces to unify their efforts for the sake of rebuilding these holy sites, to avoid the specter of sectarian civil war, and if the government cannot protect the holy sites, we are capable of it,” Sadr declares.
As reported earlier, Sadr called for three days observance of the event, in mosques “be they Sunni or Shia,” and for the “organization of peaceful demonstrations and protests so all can see that the only enemy of Iraqi is the occupation.” In closing, Sadr adds “it is incumbent on all the forces, in the parliament and without, to bear responsibility for pressuring the government to undertake its duties with respect to its people, and if not, then it is not the legitimate government that is demanded".



High-ranking Shi'a clerics not affiliated with the Sadrist current have also condemned the bombing across the board, including Ayatollah Ali al-Sistani and other top-level clerics in Najaf and Karbala, and thousands of Iraqi Shi'a held protests in Karbala, Najaf, and Baghdad.
Sunni scholars: Timing suspicious; call for Maliki to step down
For its part, the Association of Muslim Scholars of Iraq (AMSI), a prominent organization among Iraqi Sunnis, has condemned the attack, and also pointed the finger at the Maliki government and the US.
In a series of comments and statements, released in Arabic and English on the AMSI website, the group expresses its condemnation of the attacks, but also wonders how the attack could occur, given that “many government snipers (were) positioned on the surrounding roofs of buildings in the place from all directions. The doors of the shrine (were) also closed and nobody was allowed to enter.” The nature of the attack, AMSI suggests, “implies the involvement of apparatus and forces of the Iraqi Government in this new crime.”
In a later statement to “clarify” its earlier remarks, AMSI again points the finger at the Maliki government, and calls upon the government to “relinquish power.”
AMSI, which has showed hardened opposition to the Maliki government since its formation, and has been a prominent critic of the US presence in Iraq, lists a series of conditions that it says obtained in Samarra before Wednesday’s explosion. Suspiciously, it writes, locally based guards were replaced with troops sent from Baghdad just before the attack.
The text below is an adapted version of the AMSI’s English translation of its “clarifying statement,” which expresses suspicion over the timing of the explosions, for the following reasons.

1- The tombs of the two Imams and the surrounding area had been completely closed with huge cement blocks since the last years bombing. Nobody was allowed access, even pedestrians, as well as cars. 2- Governmental forces heavily deployed in the site and monitored it around the clock, the most prominent feature of which was the proliferation of snipers on the roofs of surrounding buildings from all directions.
3- The four doors of the shrine were closed, and one was allowed to enter at all.
4- The crime of the bombing, with explosives placed under the two minarets, was similar to what happened to the golden dome of the al-Askari tombs more than a year ago, which implies the involvement of government apparatuses and forces.
5- The communications agencies of the government security say that the "security forces arrived (Tuesday) afternoon from Baghdad for the receipt of the task of protecting two tombs, to replace the existing force there. Somehow they obtained a scuffle followed by gunfire lasted two hours over control of security forces coming from Baghdad."
Last year’s bombing happened after a severe political crisis between blocs involved in the occupation’s political process after the elections last year, delaying the formation of the government.

The February 2006 bombing of the al-Askari shrine in Samarra poured fuel on an already burning political crisis in Iraq. The pieces are in place for a similar eruption after Wednesday’s second set of explosions.




IraqSlogger: Beneath Curfew, Crisis Mounts After Bombing

Magazine Calls N.Korean Won Worst Currency

In an article published on its website on Wednesday, Foreign Policy, an American magazine on international relations, called the North Korean won one of the world's "worst currencies."
The official exchange rate for North Korea's won is 141 KPW per one U.S. dollar, but on the black market it's traded at more than 2,500 won per dollar.

Nobody knows exactly how much inflation has affected the currency, because most commodities prices are set by the North Korean government. North Korea's official exchange rate bears no relationship to any underlying economic reality, Foreign Policy wrote.

Commodities prices skyrocketed beginning in 2002 as the government began experimenting with market reforms, the magazine said, with the price of rice rising by 550 percent.

Alongside the North Korean won, the magazine listed Somalia's shilling (SOS), Venezuela's bolívar (VEB), Iraq's new dinar (NID), and Zimbabwe's dollar (ZWD) as the world's worst currencies.

([email protected] )

LOL ahhhhhhh they don't know nuttin!
Digital Chosunilbo (English Edition) : Daily News in English About Korea

Originally Posted by Hkp

Recent oil discoveries made in Iraq MENAFN - 13/06/2007

(MENAFN) An oil researcher in Iraq said that Iraq has approximately 530 geological complexes of potential oil reserves and that up to one hundred and fifteen sites have recently been drilled for that have reserves of around 3,111 billion barrels of oil, Iraq Directory reported.

He went on to say that in addition to this 415 locations which are yet to be explored are thought to have an estimate of around 215 billion barrels.

It is noteworthy that the central oil rich provinces in Iraq are mainly in Kirkuk and Basrah and Basrah possesses Iraq's largest oil reserves.

MENAFN - Middle East North Africa . Financial Network News: Recent oil discoveries made in Iraq

CHA - CHING !!
what excellent news for a petro-dinar.

KNA holds special session on constitutional amendments

Arbil - Voices of Iraq

Thursday , 14 /06 /2007 Time 12:11:19

Arbil, Jun 13, (VOI) – Iraq's Kurdistan National Assembly (KNA) held a special session on Wednesday to discuss possible amendments to the Iraqi constitution, KNA member Khaman Zarar said.

"Today's session is designed to discuss possible amendments to the permanent Iraqi constitution," Zarar told the independent news agency Voices of Iraq (VOI).
"Any amendment to the constitution should be in conformity with articles 142 and 143, which means with the approval of two thirds of assembly members," Speaker Adnan al-Mufti said in his opening speech to the assembly.
Deputy Speaker Kamal Kirkuki said earlier in late May that Kurds oppose any constitutional amendment that jeopardizes Iraqi federalism or plurality.

A number of Iraqi parliamentary committees comprising members of the Kurdistan Alliance and Kurdish experts and spe******ts were formed last month to follow up issues of primary concern to follow up issues of primary concern to

Foreign Policy: The List: The Worlds Worst Currencies

From FP Magazine article:
Iraq
Currency: The new Iraqi dinar (NID)
Inflation rate: 40.92 percent in April 2007
Exchange rate: 1,260 NID per US$1
What went wrong? The war. In October 2003, the U.S. Coalition Provisional Authority introduced the New Iraqi Dinar to replace the old “Swiss” dinars that featured the likeness of ousted dictator Saddam Hussein. But the new design may have been the high point for the NID. Iraq’s inflation rate averaged 50 percent last year, as spiraling security costs and persistent shortages of gasoline fueled rampant inflation, while black market profiteers bid up the unofficial price of petrol. Struggling to keep inflation in check, Iraq’s beleaguered central bank allowed the dinar to appreciate by 14 percent and raised interest rates to 20 percent in December 2006. Inflation reached a peak of more than 66 percent in January 2007, but declined to a “mere” 40 percent in April. It’s an encouraging sign, but unless the country’s raging sectarian violence gets under control, not even Alan Greenspan will be able to turn Iraq’s economy around.

Published: 14/06/2007 12:00 AM (UAE)
Al Maliki likens country's battle for order to American Civil War

AP

New York: Iraq's embattled prime minister yesterday compared the fight for order in Iraq with the US Civil War almost 150 years ago, saying the current struggle "is perhaps even more complicated."
Nouri Al Maliki described the two countries as fighting for the principles of freedom, in battles that claimed hundreds of thousands of lives.
"Our struggle in Iraq is similar to the great American quest, and is perhaps even more complicated," he said in an opinion piece in yesterday's edition of The Wall Street Journal.
"A fundamental struggle is being fought on Iraqi soil between those who believe that Iraqis, after a long nightmare, can retrieve their dignity and freedom, and others who think that oppression is the order of things and that Iraqis are doomed to a political culture of terror, prisons and mass graves," Al Maliki said.



"Some of our neighbours have made this struggle more lethal still, they have placed their bets on the forces of terror in pursuit of their own interests," he added, without naming any of the countries.
Al Maliki said one key reform, the much-delayed oil law, is "well on its way" to being approved. The law would divide revenues among provinces based on their share of the total population. He added that the national budget this year is the largest in Iraq's history.
Gulfnews: Al Maliki likens country's battle for order to American Civil War