American Contractor

26 February 2010

Iraq Important Dates

5 March 2010 Early Special voting (security/military)
4-8 March 2010 Iraq Government declares a public holiday
5,6,7, March 2010 Voting takes place for Iraqi citizens living abroad (16 countries)
7 March 2010 Iraq Election Day
1 April 2010 U.N. Report Secretary-General Iraq report to UNSC
15 April 2010 Iraq Investment Conference Istanbul, Turkey
24 April 2010 IAMB meeting DFI mechanism
21 June 2010 U.N. Tarsov mandate extended
24 October 2010 Iraq national census

As we move closer to the Iraq elections on the 7th of March just
days away, Prime Minister (PM) Maliki has issued an order.

Apparently PM Maliki is getting nervous that his political party,
the State of Law Coalition is failing in sustaining the votes
needed in the next election. PM Maliki just issued an order to
reinstate former Iraqi Army officers and has instructed them
to never use the words "the former Iraqi Army."

The new order would bring back 20,000 former Iraqi Army officers
who wanted to join the Iraqi Army and were denied due to
past affiliations. Now all is forgiven and PM Maliki needs the
votes from the former Iraqi Army officers.

The former Prime Minister Dr. Iyad Allawi, appears to be making
gains in the political arena against PM Maliki State of Law
Coalition list.

The International Monetary Fund (IMF) issued a stand-by-agreement
(SBA) loan to Iraq for 3.6 billion usd. This is the third SBA
loan to Iraq. It is a credit line of 3.6 billion dollars
for the Iraqi government to use to cover any shortfalls in
the current 2010 federal budget.

Just because the IMF issued a loan does not mean the Iraqi
government has to spend the money. I do not believe that Iraq
will spend any of the money from the SBA loan. It is my beliefs
that the Iraqi government will hold the SBA funds and not spend
a single cent just like they did with the other two SBA loans.

The 2010 federal budget was based on $62.50 a barrel of oil and the
Iraq federal budget does have a deficit of 19.6 billion dollars.

If the price of oil is hovering around $80 and analysts have
stated the price of oil could go up in 2010 then the deficit is
not a problem for Iraq. Meaning, the Iraqi government would not
need to spend any money of the third SBA loan from the IMF.

By the way, the IMF loan has nothing to do with a reval or the
changing of the Iraqi dinar currency.

The Iraqi governments previous two SBA loans both of them less
than 1 billion dollars were never used. You can verify this by
logging onto the IMF web site and look at the withdrawn column
and it says zero for both loans. When you look at the IMF web
site I'm referring to the withdrawn column.

The rookie, would have you all believe that the Iraqi government
needs an internationally traded currency to pay back an IMF loan.

The IMF article IV states no such thing and really you have to
look at article V of the IMF member laws. When making a payment
to the IMF the member pays in the currency that is agreed upon
between the members states before hand. The Iraqi government
converts the Iraqi dinar to U.S. Dollars and if a payment were
to be made it would be in U.S. dollars.

The Iraqi dinar currency is freely tradable with no restrictions
inside Iraq according to the Central Banking laws.

The IMF has scheduled payments for Iraq in 2010 and 2011 and that
is only if Iraq spends any of the SBA loan. I predict that
they will not spend any money due to the increase in oil prices
this year.

The country of Libya is a IMF member state. Do you think the
country of Libya has an international tradable currency? The
answer is no, they do not and they manage to pay their loans to
the IMF just fine.

Another example, the Iraqi government in Dec 2007, paid off an
IMF loan two years ahead of schedule and are paving their way to
theSBA IMF loans they currently receive. How did Iraq pay the IMF
loan if they did not have an international tradable currency in
Dec 2007? Well, I guess you all know the answer now.

On 26th February, the World Bank approved a loan for $250 million
to help with any projects that would need funding in the likely
hood that the oil price drops.

Web links for your reference:

1. Iraq renews $744 million loan from the IMF
http://www.bicusa.org/en/Article.3671.aspx

2. World Bank approves $250 million loan for Iraq
http://uk.reuters.com/article/idUKN259611720100226

3. Iraq: Financial Position in the Fund as of January 31, 2010
http://www.imf.org/external/np/fin/tad/exfin2.aspx?memberKey1=460&date1key=2010-02-25

4. Iraq: IMF Credit Outstanding as of January 31, 2010
http://www.imf.org/external/np/fin/tad/exportal.aspx?memberKey1=460&date1key=2010-01-31&category=EXC

5. Iraq clears $470m IMF debt
http://www.ameinfo.com/141958.html

6. Article IV - Obligations Regarding Exchange Arrangements
http://www.imf.org/external/pubs/ft/aa/aa04.htm

7. Article V - Operations and Transactions of the Fund
http://www.imf.org/external/pubs/ft/aa/aa05.htm#1

8. Iraqi parliament endorses $72.4 bn 2010 budget
http://www.kuwaittimes.net/read_news.php?newsid=ODc1MTA2OTQ1

9. IMF Agrees to $3.6 Billion Standby Loan for Iraq
http://www.bloomberg.com/apps/news?pid=20601087&sid=a9lBME.GFRk8&pos=6

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24 February 2010

Iraq Important Dates

5 March 2010 Early Special voting (security/military)
4-8 March 2010 Iraq Government declares a public holiday
5,6,7, March 2010 Vote for Iraqi citizens abroad (16 countries)
7 March 2010 Iraq Election Day
1 April 2010 U.N. Report Secretary-General Iraq report to UNSC
15 April 2010 Iraq Investment Conference Istanbul, Turkey
24 April 2010 IAMB meeting DFI mechanism
21 June 2010 U.N. Tarsov mandate extended
1 October 2010 Iraq national census rescheduled (was Oct 2009)

If you read the Iraq Important updates you will notice that I've
added a few more listings. The Iraqi government (GOI) has just
made an announcement that on 4-8 March there will be a
government holiday.

The holiday is to give the Iraqi's time to prepare for the
special election, voting abroad, and the actual election day
on March 7th as well as the following day.

Considering all the preparations that are going on in the run
up to the elections, it is inconceivable at this current time
that a reval will occur with the Iraqi dinar currency before
the elections.

In my last posting on 21 Feb, I mentioned that no government
salaries had been reduced for any government employees. The
Ministry of Oil Hussain al-Shahristani, made statements that no
employee will have reduced salaries. The Prime Minister, Maliki
gave all government workers raises in the second quarter of 2009.

Rumors of pay deductions are sometimes expected just before an
election to discredit an Iraqi politician. The pay deduction rumor
is not true. Just to give you an idea, the Iraqi Police salary was
5,000 Iraqi dinars and is now 65,000 Iraq dinars. In addition, the
Ministry is still wanting to increase the pay of all Police and
Security forces.

The Ministry of Finance has made an announcement that the laborers
will receive their bonus salary on 1 March.

The security for the upcoming elections will be complex as the
Interior Ministry will be dispatching 500,000 security forces and
14 Iraqi Army units. We can only be hopeful that the upgraded
security measures will be successful in having a violent free Iraq
election.

Other upcoming Security measures will be, closure of sea, land and
airports between 0000 on 7 March and 0500 8 March. I will add that
there will be a vehicle ban which is a given as they typically do
have one. The ban is to include motorcycles and animal carriages.

The Independent Higher Electoral Commission (IHEC) has approved a
total of 325 parliament seats. They include; 310 general seats, 8
for Christians, Ezidis, Shabak, Sab'iah and 7 national compensatory
seats.

The Vice President Abd al-Mahdi has stated that the IHEC has printed
an additional 7 million ballots and the IHEC did not give an
acceptable reason for doing this.

More to follow...

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UPDATE:
An error was made on the Iraq police salary it should be 90,000 ID
http://dosfan.lib.uic.edu/ERC/cpa/english/security/MOI_Info_Packet.html

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21 February 2010

Iraq Important Dates

5 March 2010 Early Special voting (security/military)
5,6,7, March 2010 Vote for Iraqi citizens abroad (16 countries)
7 March 2010 Iraq Election Day
1 April 2010 U.N. Report Secretary-General Iraq report to UNSC
15 April 2010 Iraq Investment Conference Istanbul, Turkey
24 April 2010 IAMB meeting DFI mechanism
21 June 2010 U.N. Tarsov mandate extended
1 October 2010 Iraq national census rescheduled (was Oct 2009)
31 December 2010 DFI expiration date (possibly extended)

The United Nations Security Council (UNSC) has voted to lift the ban on
Iraq Scientific Research.

U.N. Chapter VII is still in effect and will be until the end of the year,
Dec 31, 2010. The Iraq government has until July 2010 to establish a
mechanism for the Development Fund of Iraq (DFI). If this is not done
it will impact Chapter VII from being lifted at the end of the year.

The Ministry of Trade (MOT) is setting up a program to allow government
employees the opportunity to acquire loans for vehicle's somewhere in the
range of 36,000 cars.

By the way, the salaries of the government employees are not being reduced
as previously reported. Remember, a year ago the government raised salaries
against the advice of the International Monetary Fund (IMF). PM Maliki
gave them the raise.

The redenomination articles that have been circulating are true according to
my sources. The Central Bank of Iraq is considering changing the Iraq dinar
currency and as of this date no decision has been made. The Ministry of
Finance (MOF) is against changing the currency at this time. Later in the
year, the CBI will have another meeting with the MOF in regards to the
reprinting of the currency.

Look for more articles educating the public on the currency reprint. The
Iraq GOI is increasing their staffing at the border guards by adding police
to secure the borders.

******
RV UPDATE
******
I stand by my statement that no RV will occur in February 2010. The CBI,
MOF and PM Maliki are not interested in this project to change the currency
at this time. There are too many other important issues on the table unresolved.

Who will be lucky if they have a Prime Minister appointed by the Iraqi
Parliament by 7th of May the way things are looking in Iraqi
politics.

As always, more to follow from the American Contractor, who truly has
better info than those experts waging psyops campaigns which are very
entertaining to say the least.

More to follow...

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10 February 2010

Iraq Important Dates

7 Feb 2010 Extraordinary Session Iraq Parliament (Canceled)
12 Feb 2010 Start of political campaigns for election
15 Feb 2010 Press Conference; Five year plan for Iraq (MoP)
5 March 2010 Early Special voting for Elections (Security/Military)
5,6,7 March 2010 Vote for Iraqi citizens abroad (16 countries)
7 March 2010 Iraq Election Day
1 April 2010 U.N. Report Secretary-General Iraq report to UNSC
15 April 2010 Iraq Investment Conference Istanbul, Turkey
21 June 2010 U.N. Tarsov Mandate extended
1 Oct 2010 Iraq National Census rescheduled (was oct 2009)

In my last newsletter I mentioned that the Iraqi Parliament was
asked by the Prime Minister to hold a special session on Sunday,
7 Feb to discuss the banned political candidates.

However, before the Parliament meeting on Sunday I also mention-
ed that the Prime Minister, President and other Iraq government
officials would be having their own meeting on Saturday, 6 Feb.

The meeting Saturday, was called off after the Accountability and
Justice Committee (AJC) had relented from pressure to expedite
the appeals process. The AJC have rejected 27 appeals and are
looking at another 177 which the AJC could have them finished
by Thursday, 11 Feb.

The Independent High Electoral Commission (IHEC) have said that
the elections could possibly be postponed to a later date
if no decision from the federal court is made due to the limited time for
election campaigning. The IHEC is giving it one more week to
decide if there will be a delay. Just so you know, the deadline
is 12 Feb which is the starting of the campaigning.

There will be a press conference by the Ministry of Planning (MoP)
detailing the five year plan for Iraq on 15 Feb. The MoP
released some details and will have 2,700 projects worth
186 billion dollars more details will be disclosed on the 15th.

The five year plan is the governments plan, I am sure foreign
companies will be in attendance and may get a complete copy
of the plan. I hope the press conference goes without any
issues as foreign direct investment is badly needed in Iraq.

U.N. Chapter VII
Yes, it is still in effect and if you look at the Iraq important
dates at the top you will see the Secretary-General has a
report to submit to the U.N. Security Council. It is in regard to
all binding resolutions that Iraq is under at the moment.

RUMOR
There is a rumor going around that the U.S. Forces will be
paid in Iraqi dinar using the eagle cash card. This is false,
the only currency that can be placed on the eagle cash card
is the U.S.dollar. The eagle cash card is linked to the soldiers
U.S. Bank accounts in the United States and to my knowledge
no U.S. Bank has Iraqi currency accounts for their customers.
The U.S. government pays the U.S. Military in U.S. dollars only
via direct deposit.

Eagle Cash info

http://fms.treas.gov/eaglecash/index.html

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Iraq needs eight million tons of steel a year for reconstruction and infrastructure.

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05 February 2010

IRAQ IMPORTANT DATES

7 Feb 2010 Extraordinary Session Iraq Parliament
7 Feb 2010 (Canceled) Campaigning begins for elections
12 Feb 2010 Political Campaigning starts for elections
4 March 2010 Early voting of Parliamentary Elections
7 March 2010 Iraq Parliamentary Elections
1 April 2010 U.N. Report by the Secretary-General on Iraq
15 April 2010 Iraq Investment Conference - Istanbul, Turkey
21 June 2010 U.N. Tarsov Mandate Extended
01 Oct 2010 National Census (rescheduled from Oct 2009)

**********************
Political Developments
**********************

This is the update for the week ending by American Contractor. If you have read the Iraq Important Dates, you will see the political campaigns for the upcoming elections had been scheduled to start on 7 Feb. It has now been canceled per IHEC meaning no campaigning can start on the scheduled date and moved back to 12 Feb.

My last Intel update I had told you that it is possible the Iraqi Parliament could be called back into session by the Prime Minister and that is what is going to happen. A “extraordinary” session as it is being called will occur on 7 Feb. PM Maliki and Iraqi Parliament will be discussing the decision by the Accountability and Justice commission to allow the banned candidates to participate in the elections.

The Iraqi Parliament extraordinary session is scheduled 7 Feb, however, if a solution to the crisis is resolved by a meeting on Saturday by PM Maliki, and other officials then the extraordinary session will be canceled.

Per law the Iraqi parliament can only discuss what the PM invited them to discuss and that is the decision for banned candidates to participate in the upcoming elections. The Iraqi parliament can not discuss or deliberate anything else. So you can’t try and pass the Oil and Gas law not going to happen. They are saving that for the next new incoming Iraq parliament. I will say that there are Iraqi parliament members that would like to vote on other bills or legislation and will keep watching to see what happens in the next few days.

American Contractor analysis of the Revaluation of the Iraqi dinar currency has been confirmed and will not happen in the month of February 2010. It is 100% confirmed. How? You may ask. It is confirmed by credible professionals living the dream overseas. American Contractor has a network of credible sources and not to mention the owner of the coffee shop on Hiafa St..

As always more to follow…

* * *
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AMERICAN CONTRACTOR INTEL, AC-I

01 February 2010

IRAQ IMPORTANT DATES

7 Feb 2010 Campaigning begins for elections
4 March 2010 Early voting of Parliamentary Elections
7 March 2010 Iraq Parliamentary Elections
1 April 2010 U.N. Report by the Seceretary-General on Iraq
15 April 2010 Iraq Investment Conference - Istanbul, Turkey
21 June 2010 U.N. Tarsov Mandate Extended
01 Oct 2010 National Census (rescheduled from Oct 2009)

**********************
Political Developments
**********************
The Iraqi Parliarment have ended their term and leaving more than
100 draft bills for the next newly elected Iraqi Parliament to be
voted on. With this being said thier is debate in closed meetings
with the Presidency Council to call back the Iraqi Parliament to
hold a session and vote on many of the draft laws that need to be
voted on.

The Presidency can call the Iraqi Parliament back in session if
they have a veto or need to debate further on the 2010 Federal
Budget that was recently passed by the Iraqi Parliament. If the
Presidency Council has a question or need answers then the Iraqi
Parliarment will have to be called back in and they can do this
all the way up to 16 March. I will keep you informed of this
as this develops.

It is possible that the 2010 Federal Budget could be veto'd by
the Presidency Council, as the Budget contains an item that stops
the governmnet from providing job vacancies until the Service
Council can be formed.

As I have said before the Iraqi Parliamnet failed to pass over
100 draft laws that are in need of passing the parliament.
Such laws as the Oil and Gas Law, the parties law, journalists
protection law, the activation of the political reformation pact
law, the Infrastructure law, and electoral conduct supplementary
rule and a host of other drafts.

Now we have the job vacancy crisis of about 115,000 new jobs that
can not be filled without the appointment of Service Council
members, which has not been formed. The Council of Ministers
nominates the members and the Iraqi Parliamnet ratifies it.

They failed to do so. Now, you have 115,000 jobs that are vacant
ready to be filled by willing Iraqi's but can not fill the job vacancy
due to not having Service Council members.

Just so my readers know what I am talking about here is the
by-laws for the Iraqi Parliarment. Information you will not
get any where else not even the *expert* has the type of
information that readily available to the American Contractor
at any given time.

Please Read below!!

* * *
Article 22 of the Parliament's bylaw says: "The Council of
Representatives has an annual session over two legislative terms
of eight months duration; the first starts on 1 March and ends
on 30 June each year, and the second starts on 1 September and
ends on 31 December." while Article 28 says: "The Presidency
Council, the prime minister, the Council of Representatives
Speaker, or fifty MPs have the right to invite the Council of
Representatives for an extraordinary session, providing that
the meeting discusses only the topics specified in the invitation."
* * *

Now, the elections occur on 7 March you all know it will be a month
before anything is settled in the election results. So now we are
talking about 7 April to have everyone who was elected sitting in
Iraqi parliament. As you can see from the Parliament by-laws they
are in session from 1 March to 30 June. After the newly elected
Parliament has settled in the newbies have 90 days to do some
serious debating and voting on those 100 draft bills the last
parliament failed to do.

I am sure the parliemant will be prioritizing the draft bills like
maybe the one's I mentioned above. Who knows with the newbies in
parliament are going to decide on. We hope for the best.

* * *

The Candidates have been given the green light as of 7 February
is the date when the political blocs can start their campaigns
for the next election being held on 7 March. That's campaining
not rv'ing!! Speaking of which as I've said no rv in Jan and no
rv in Feb 2010. Have I ever been wrong before?!

The law has to be changed and with no parliament who's going to
pass the law. Now, you see why no rv in Feb 2010!

Last week, I had informed you that the banned list is as high as
800 names and now the IHEC has the number set at 766 names that
have been banned from the upcoming elections. My vast network
of information and contacts is superb.

The U.N. Chapter VII is still in effect and will be at for
several more months as you can see in my Iraq important dates
the reviews and reports will be forthcoming from the U.N.
Secretary-General, Moon about 1 April. The Secrteray General
will draft a nice report and Chapter VII will remain.

China cancels 80% of Iraq's debts to China. I would too if I
obtained a major oil contract in Iraq. Also China is opening
consulates in Erbil, Baghdad, Basra. Did you know the trade
between Iraq and China has been over 3 billion usd!!

The Oil lawsuit trial starts today and we will be watching closely
and so will big oil.

* * *
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PRIVACY
Your email information and any information sent to the American
Contractor will be protected and will not be disclosed to
anyone.

^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^
Hope you enjoyed this addition of the American Contractor
Intel AC-I, email newsletter. Feel free to forward this
E-mail to anyone with similiar interests.

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