Central Bank Iraq Collecting Bank Notes
It has come to my attention that speculation still continues in regards to Chapter VII and whether or not it is lifted. There are some select few individuals who continue to argue that it has been lifted. I’m still not quite sure why some are still arguing that issue when I have provided link after link of credible sources that confirm Chapter VII is still ongoing.
If there are some who are not yet convinced maybe you may need more reassurance. Read on.
The Prime Minister of Iraq, Nuri Al-Maliki, was recently invited to China. The Chinese government welcomed the delegation from Iraq which was led by Prime Minister Nuri Al-Maliki and other high level ministry officials. The MENAFN news web site just published an article referencing how PM Maliki asked the President of China, Hu Jintao, for his support to get out of the UN Chapter VII. China has a permanent seat in the United Nations Security Council and has a single vote to remove the remaining sanctions against Iraq. China has a major role in this which may be the reason PM Maliki has asked for the support in being removed from Chapter VII.
China has influence and the money to help facilitate this for Iraq. In the near future, you will see PM Maliki visiting other members of the United Nations Security Council (France, Russia).
Iraq-China’s Support needed to get rid of Sanctions – Maliki
On 9 July posted in the Aswat al-Iraq news was a recent quote from the Kuwait Deputy Prime Minister and foreign Minister Mohammed al-Subah. It read “Iraq must complete its implementation of all UN Security Council resolutions, being the only means for it to get out of UN Charter’s Article 7,” Subah told Kuwait al-Qabas newspaper.
Kuwait calls on Iraq to implement UN Security Council’s resolutions, in order to get out of UN’s 7th Article
As much as some people would like to think that Kuwait is the number one investor in Iraq, they simply are not. The foreign investment in the country of Iraq has doubled in 2010 however, Kuwait is not the top investor. Kuwait has never been rated in the top 12 nor have they ever been in the top tier of private investing in Iraq. The number one country that is currently investing in Iraq is Turkey with 14 billion dollars. You can view the list of foreign countries who have invested in Iraq by clicking on the urls below.
Foreign Commercial Activity in Iraq
Foreign Investment Almost Doubled in Iraq in 2010
The appointment of Ministry officials:
The current acting Ministry of Defense Maliki Jassim al-Obeidi is not the permanently appointed MoD official. Al-Obeidi is only temporary in this position until a new candidate is selected.
The Extension of UNAMI:
The United Nations Assistance Mission for Iraq (UNAMI) will vote on the extension for the continuing mission in Iraq on 28 July. The UNAMI mission will be extended in Iraq. The mission will continue for years to come. They are currently moving their compound from one location to another. Iraq needs the UNAMI mission to continue its work to benefit the Iraqi people. They are not going away.
The Iraqi Currency Update:
The information I am getting is that the Central Bank of Iraq is currently removing the 25k notes from circulation. This is the only banknote that I am told is being removed. This is a slow and methodical process and will take 2 -3 years to accomplish this task. As stated in the last post, the actual new design of the new Iraqi currency has been completed. There are 6 new de-nominations as of now in the draft to be implemented in the future. Of course it’s always possible that all this could change as the Central bank planning committee is still in session.
In regards to the much speculated RV, nothing will occur in the month of July nor in the month of August, the start of Ramadan. Ramadan is approaching in a few weeks starting on either 1 or 2 of August depending on if your Shia or Sunni religious sect.
Thank you for reading.
Posted by American Contractor on July 21, 2011 12:43 AM | Permalink