Thread: Archive Latest News - Dinar Think Tank - 27/08/08 - 15/01/09

Dollar demand up

Demand for the dollar rose at the Central Bank of Iraq (CBI) auctions on Monday, registering $183.785 million compared to $68.835 million during the previous session.

The demand hit $45.055 million in cash, covered by the bank at a stable exchange rate of 1,181, and $138.730 million in foreign transfers outside the country covered by the bank at a stable exchange rate of 1,178 Iraqi dinars per dollar, according to a CBI news bulletin.
None of the 14 banks that participated in this week’s session offered to sell dollars.

The Central Bank of Iraq runs a daily auction from Sunday to Thursday.

Dollar demand up : Aswat Al Iraq

UAE Energy looking to invest in Iraq

Chief ****utive of the Abu Dhabi National Energy Company (TAQA) today, Monday, the company was considering opportunities for investment in the electricity sector in Iraq.

Said Peter Barker Homek in the economic conference in Dubai that the company, which owns power plants in the UAE capital Abu Dhabi and has operations in the oil and gas industry will send representatives abroad to Iraq next month and that it would consider investing in small projects to generate electricity using diesel.

The Barker Homek said earlier this month that the company was looking for acquisitions at least a billion dollars in energy companies facing problems in coping with global financial turmoil.

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US wins early round over Iraq

Long, but really interesting, if bias, read......

Following his cabinet's approval of a draft Status of Forces agreement with the United States regulating the US presence in Iraq, Prime Minister Nuri al-Maliki has the hardest sell of all to convince Iraqis the pact is in their "best interests". Deep down, though, and with Iran looking over his shoulder, he could well be banking on parliament rejecting the pact.

On Sunday, 38 ministers, including Maliki and his two deputies, finally signed the controversial draft security arrangement with the US. In essence, it says that the 152,000 US troops will withdraw from cities and towns throughout Iraq by June 30, 2009, and pull out completely from the war-torn country by December 31, 2011. Parliament will vote next week to either accept or reject the pact - it cannot make any changes.

President Jalal Talabani had tried, via US ambassador Ryan Crocker, at the last minute to get President George W Bush to make further amendments to the draft so that he could present it to the Iraqi people "with head help up high", to no avail. After already making some concessions, Bush was seemingly satisfied with the text and is determined to sign off on it before his term expires in January.

Apparently, Maliki only accepted the current draft after emphasizing full withdrawal by 2011 and making sure that US soldiers will not be immune to Iraqi law if they commit crimes on Iraqi territory. The full text of the agreement has not been published, but the general parameters include a 10-year mandate for the US to guarantee the security of Iraq, in exchange for the right to use Iraqi land, waters and skies to base and train troops and store military equipment. In addition to 50 US bases, the deal calls for long-term American supervision of the Iraqi Ministry of Interior and Defense.

This gives the Americans the almost exclusive right to rebuild Iraq, train its forces and maintain personnel on Iraqi territory. It gives the US the right to arrest or persecute any Iraqi working against its interests, within Iraq, and pledges to protect Iraq from any war, coup or revolution. It also gives the US control of Iraqi airspace.

Deputy Prime Minister Barhan Saleh said the Americans had threatened to freeze no less than US$50 billion worth of Iraqi hard currency, and keep all of its monetary debts to the US if an agreement was not signed before December, the date that the United Nations mandate for the American presence in Iraq expires.

Most Iraqis - both Sunni and Shi'ite - are vehemently opposed to the pact, as is neighboring Iran. Grand Ayatollah Ali Sistani in Iraq called on the Maliki government to think twice before committing Iraq to an agreement that grassroot Iraqis considered "a pact of humiliation".

Shi'ite leader Muqtada al-Sadr called on his followers to establish a new militia, called the "Judgement Day", to hamper the implementation of the US pact. After coming to power in 2006, Maliki famously defended himself against accusations of being a US stooge, saying, "I consider myself a friend of the US, but I'm not America's man in Iraq."

He is now trying to sell the agreement - which he did not support from day one - as being in Iraq's best interest. The United Arab Emirates (UAE), he argues, has had an operational defense treaty with the US since 1994, which keeps nearly 2,000 US military personnel on UAE territory. Qatar has had a military agreement with the US since 1992.

Apart from members of his cabinet, few are buying this argument, certainly not the Iranians, who are furious at the Sunday ratification. The Iranians claim the agreement is a direct security threat to the region as a whole, and Iran in particular. Traditional foes like Abdul Aziz al-Hakim, chairman of the Supreme Iraqi Islamic Council (SIIC), and Muqtada, have gone into high gear in recent weeks, pressuring Maliki not to sign.

The first to come out and speak violently against the agreement was the Qom-based Ayatollah Kazem al-Hairi, a very influential cleric in Iraqi domestics, matched only by Sistani. He issued a religious decree - a fatwa - prohibiting ratification of such an agreement long before similar declarations were made in Najaf, the holy Shi'ite city in Iraq.

One Iraqi source who requested to remain anonymous told Asia Times Online, "I never trusted Nuri al-Maliki. I would count my fingers after shaking his hands. Although we have no proof at this stage, it is clear that plenty of money was handsomely distributed last week in Baghdad, to make sure that the entire cabinet - with no exceptions - ratified the agreement draft with the United States. One day this will come out in the classified archives of the US, perhaps 30 years from now."

The pieces of the puzzle have started falling into place, he added, "We now realize why no serious effort was made at getting the resigned ministers from the Sunni bloc, the Iraqi Accordance Front or the Shi'ite bloc of Muqtada al-Sadr to rejoin the Maliki cabinet. Maliki knew that if they were in office, they surely would have drowned the agreement within the cabinet of ministers."

Many in Iraq simply do not buy the argument that Maliki is a helpless man who simply cannot say "no" to US dictates. And even if he were, they argue that it would have been more honorable for him to step down than chain his country to a long-term agreement with a country that all Iraqis agree is an occupying force.

All attention is now on the 275-seat parliament, which can make or break the security pact. Maliki's United Iraqi Alliance, which holds 128 seats, will likely vote for the agreement. That won't apply to the 44 members of the Accordance Front or the 30 parliamentarians from the Sadr bloc. In what could be a crucial decision, parliament still has to decide on what kind of majority will be needed for the pact to be ratified.

What happened in Iraq on Sunday was basically a war of influence between Iran and the United States. It was a struggle for Iraq. It is unclear, however, whether Maliki said "yes" to the agreement after consulting with Iran, or whether he acted against the will of his Iranian patrons. The latter is highly unlikely, given the prime minister's strong bonds to the Iranians and his strong commitment to Shi'ite nationalism.

Probably the Iranians reasoned it would be better to have Maliki approve the agreement, and then work to drown or hamper it from within the Iraqi system. This would be preferable to having him ejected from power by the Americans and being replaced by someone who would cooperate with Washington and snub the mullahs of Tehran.

At least Maliki has the ability to walk the tightrope between both capitals, and does not work against Iranian interests in Iraq. Maliki and his allies lost a battle with the United States on Sunday. They did not lose the war. The cabinet signing the pact does not mean it will be approved by parliament on November 24, the premier could well be thinking, and it is here that George W Bush's proposed last legacy in Iraq might die.

Sami Moubayed is editor-in-chief of Forward Magazine in Syria

Asia Times Online :: Middle East News, Iraq, Iran current affairs

Congress: Barzani's coup against the constitution, has no legal basis

Baghdad / rejected independent deputy, Wael Abdel Latif Al-Barzani's remarks, describing it as «serious development of relations between Kurdistan and the federal government attempt to fish in troubled waters».

Abd al-Latif told the «life» London the «Kurdish always out of step, out. Yesterday oil contracts granted to foreign companies and today want to host military bases ». He pointed out that «such actions showed the existence of things being plotted against the political forces behind the scenes», saying that «would create an atmosphere of mistrust between the political blocs».

Talib Abd al-Latif and the government of «comments rejection and condemnation Barzani and accountability on the causes of the making». The deputy of Osama Najifi Barzani's «coup against the Constitution and blackmail the government and the House of Representatives and blatantly attempt to influence the Iraqi decision and give a picture of Iraq as states and not one country».

He called on Barzani to Najifi «apologize for what he said and openly declare its commitment to the Constitution and the principles of democracy and nation-building does not exceed the powers of status and rights of the Iraqi people».

So, the coalition deputy «l Faleh Al-Fayad,« life »The« Barzani's remarks have no legal basis and contrary to the Constitution which stipulated that foreign policy, defense and security powers of the federal government ».

He added that «the Constitution does not give the right not to the Kurdistan region or any other province to host the rules and the establishment of diplomatic relations with any country».

He added that «the Constitution does not give the right not to the Kurdistan region or any other province to host the rules and the establishment of diplomatic relations with any country». He added that «the brothers in the Kurdistan Alliance does not adopt this position», adding that «although they, with the acceleration in signing the security agreement, but they know the limits of the powers of the province do not want to host U.S. bases when».

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$166M World Bank grant for rehabilitation of irrigation & development projects in all parts of Iraq

Completed and the Ministry of Water Resources implementation of the (22) contract within the first phase of the World Bank grant of $ (20) million dollars to develop irrigation and drainage projects in all parts of Iraq, as well as the processing of heavy machinery and equipment belonging to different maintenance workshops and farm vehicles and computers, printers, photocopiers and communication in addition to holding Consultant with the outside auditor and management and operational expenses.

The World Bank also provided an additional grant of $ (26) million for the implementation of (14) contract in the second phase of the rehabilitation and development of irrigation and drainage projects and processing of the ministry machinery and equipment necessary for the operation of existing irrigation projects for the positive effects of the economic and technical management of the best irrigation and drainage networks spread across the Provinces with the maintenance of internal and external training consultants and operational and administrative expenses.

The agreement with the World Bank is to provide a loan of $ 120 million dollars for the purpose of rehabilitation and development of irrigation and drainage and reclamation Field cost 85 million dollars with a study of the safety and rehabilitation of dams and Alsdat cost 25 million dollars and to study the improvement of water resources cost (10) million.

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Finance: the distribution of IDA loan to service projects

Ministry of Finance announced on the distribution of the loan allocated by the International Development Association (IDA) of (500) million dollars to a number of infrastructure projects and services.

An official source at the ministry told the independent press (Entcha) today, Tuesday, the ministry decided to distribute the amount stated on the draft rehabilitation of roads and the rehabilitation of Dokan station and Derbandikhan rehabilitation Hartha power station in addition to the Third Emergency Education Project.

He passed on these projects by the Presidency and entered into force and will be the signing of the water supply project soon in Tarmiya, the loan itself.

The source was the recent signing of the exchange of letters for the financing of two of the Japanese loan of $ (36,407) million ((Yen)) Japanese equivalent (340252330) U.S. dollars to the reconstruction projects of water and sewerage Halabja and the horses in the province of Kurdistan and the rehabilitation of streams Karkh - Baghdad and gas south - Basra.

The presidency of the Council of Ministers approved the four projects of Japan.

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Saadoun: Zebari signed the Convention is complementary to approval of the Council of Ministers

MP Mohsen Saadoun said that the signing of Foreign Minister Hoshyar Zebari is a legal system that operates according to the Iraqi government.

The Saadoun told the independent press (Iba) today, Tuesday, that the law under which it operates the Iraqi government in this aspect is the law of treaties and international conventions No. 111 of 1979 which indicates that it is the duty of the Iraqi government to sign agreements and treaties that are agreed upon with other countries.

He added that it is the duty of the Iraqi government to sign the Convention on the withdrawal of foreign forces from Iraq with the U.S. side, indicating that the Ministry of Foreign Affairs is the competent authority in this matter as the agreement relating to another state is the United States of America.

The signing ceremony was Saadoun a complement to the approval of the Council of Ministers of the Convention after the vote by the majority, adding that the signature was the final debate before the House of Representatives to consider the Convention ****saddaqp it or not.

The number of deputies criticized by Hoshyar Zebari, signed the agreement with the U.S. ambassador in Baghdad, considering this is to put pressure on the House of Representatives towards the ratification of the Convention.

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Iraqi Parliament debates Security Pact

Iraqi lawmakers Monday began debate over a pact with the United States that will allow U.S. forces to remain for three more years, while an Iranian official close to that country's leadership praised the Iraqi Cabinet for approving the deal.

The comments from Iran's judiciary chief marked the first time that the deal has met with clear-cut approval in neighboring Iran. Meanwhile, Syria, target of a deadly cross-border raid by U.S. forces in recent weeks, criticized the deal as virtual surrender to America.

More than two-thirds of the 275-seat legislature attended Monday's session, raising confidence that parliament will be able to muster a quorum for the Nov. 24 vote. The session ended after the agreement's text was read to lawmakers, the first step to adopt legislation.

Lawmakers are expected to meet again on Tuesday.

http://pukmedia.com/english/index.ph...=7654&Itemid=1

Talabani: security prove the foundations of security and revive the economy

Search President Jalal Talabani met with U. S. Ambassador to Iraq Ryan Crocker, an official in the Iraq dossier and the U.S. State Department, Ambassador David Satterfield positive points in the Security Agreement that was approved by the Council of Ministers.

A statement by the Presidency of the Republic received a copy of the Tigris Radio today, Tuesday, Talabani met with Crocker and Satterfield and a number of senior officials of the U.S. embassy in Baghdad.

The statement quoted Talabani as saying that there are positive points in terms of the Convention return of sovereignty and independence of Iraq and establish the foundations of security and stability and economic recovery and reconstruction of Iraq and out of section VII of the Charter of the United Nations and foreign intervention.

For his part, Ambassador Crocker, welcomed the decision of the Iraqi Council of Ministers ratified the Convention, hoping to be the completion of ratification by the House and the presidency as well.

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Top brass warns Iraq withdrawal may take 2 or 3 years

President-elect Barack Obama's signature campaign promise to withdraw US combat troops from Iraq within 16 months of taking office appears to be on a collision course with the nation's military brass, if comments yesterday from the chairman of the Joint Chiefs of Staff are any indication.

In his first press conference since the election, Admiral Michael G. Mullen said he believes that the soonest all US forces could be safely withdrawn from Iraq is "two to three years."

"We have 150,000 troops in Iraq right now," the nation's top military officer told reporters at the Pentagon.

"We have lots of bases. We have an awful lot of equipment that's there. And so we would have to look at all of that [and] the security conditions that are there. And clearly we'd want to be able to do it safely."

Mullen, who has completed the first year of a two-year term, has long supported drawing down US troops only as security improvements warrant and has repeatedly warned against setting a date certain to end the US military commitment.

His comments indicate that he is preparing to caution the incoming president, with whom aides say he has held at least one conversation, against a speedy withdrawal.

On the campaign trail, Obama said he would consult his top military advisers before ordering a withdrawal from Iraq, but also made the pledge a centerpiece of his presidential bid. Any backsliding on his pledge would probably provoke an outcry from antiwar Democrats, one of his key political constituencies.

But the biggest roadblock to realizing his plan to end the war in Iraq and divert more military resources to Afghanistan may emerge from Iraq. An agreement between the United States and Iraq recently approved by the Bush administration and Iraq's Cabinet calls for removal of US troops by the end of 2011. Once approved by Iraq's Parliament, which began debate on the measure yesterday, the agreement cannot be changed by either side for at least a year.

Democratic lawmakers, including Representative William D. Delahunt of Quincy, say they fear that the clause "may effectively tie the hands of the next administration."

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