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Iraq on the brink of bankruptcy !!!
Muhammad Ali
Tuesday, November 11, 2014
Iraq entered into a series of crises and political security, social and setbacks over the past years before that is added to the recent severe financial crisis is now threatening the country's bankruptcy Iraq to be the first oil country in the world facing this fate, that the economic crisis is the most serious could face states are a major cause wars and revolutions and the fall of governments and the collapse of the states.
Perhaps the gravity of the current financial crisis, which was acknowledged by the Iraqi Prime Minister lies in the timing of where comes at a difficult stage launches government work and held by Amal petition in the country out of the dark tunnel and locked in the Iraqi army fierce fighting for the restoration of territorial integrity of the organization Daash a Maittalb availability liquidity necessary to do so.
Economically can Bankruptcy defined as the government's failure to repay the entire debt and get this when the total debt is greater than the total assets, which means in practice that the government will be unable to meet its financial obligations and its employees' salaries which was confirmed by the International Center for Studies British and development, who said that Iraq would face bankruptcy report During the three years because of the budget, which now threatens the Iraqi oil sector is clearly a deficit.
That of the main causes of the current financial crisis through which Iraq is a decline in global oil prices and increased expenses, the sharp decline in the price of oil has started since the beginning of the month of June last, tumbled price of around $ 113 per barrel to less than $ 84 in October / Last October, a decline during this period exceed 20%, according to the International Energy Agency, an impressive rate in the budgets of oil-producing countries, which were always confirm that the $ 100 per barrel, the price of a fair and acceptable.
Perhaps the strange thing is that this decline comes at a time which is witnessing a regional arenas and international set of events that usually cause higher oil price war is still tearing two oil facilities are Iraq and Libya in the Gulf states seem caught between the hammer of the fear of the organization of the Islamic state and the anvil of concern Iranian project, either internationally Ukrainian crisis (the main cause of the Russian conflict, US West) still exist with a succession of raised economic both in terms of tightening Western sanctions on Moscow or the recent lifting of the price of Russian gas, which issued to Kiev, which suggests that the power struggle is behind the reduction in prices Oil?
According to the economic and political analyzes, Iraq today and as usual, pay the price for regional and international conflict in the field of energy Fmaihsal today and the opinion of specialists is an American Saudi plan to put pressure on Russia and Iran, through the reduction of world oil prices
Saudi Arabia seems to be the biggest beneficiary of this plan, which the Financial Times newspaper Mazkrth British Reducing oil prices would range from kindergarten to perhaps the most important goals:
1. The negative impact on the weary because of Western sanctions, the Russian economy.
2. The formation of pressure on Iran by targeting its economy and military strength by causing a loss of Iranian oil sector, which owns the Revolutionary Guards in which a significant share a Masaada to offer Iran a key concessions in nuclear negotiations with the international community, especially if we know that Iran has developed its budget for the current year on the basis of price $ 100 per barrel and the continuation of the current situation constitutes a severe blow to its economy collapsing due to the sanctions also at a time when trying to increase production to cover the shortfall in the budget.
3. The drop in oil prices will lead to declining investment in the field of high-cost US shale oil and that Americans recently begun relying upon to reduce their dependence on imported oil with the remaining negative effects of less than positive for the United States, which will contribute to this reduction has a tax cut on US consumer raging Obama and economic policies, he also China and the European Union will encourage turnout on Saudi oil demand.
Saudi Arabia, which has entered into this venture has huge reserves of hard currency will be able whereby the face of the budget deficit, a luxury settings lacking for Iraqis under the failed economic policies that relied on oil as the sole source of national income (93%) with the neglect of agriculture, industry, trade, tourism, animal husbandry and fishery sectors which led to the occurrence of this crisis, especially after the loss of Iraq's 400,000 barrels of daily because of the control of the organization Daash on some oil wells and the acquisition of Kurds to Kirkuk fields, and here are aware of the seriousness of the weak Iraqi position in this gambling so to speak, Manipulation oil prices as a weapon to achieve goals
Political push Iraq to invade Kuwait in 1990 when he used this weapon against him with consequent upon the horrors and tragedy are still suffering and paying for them to this day.
The increase in expenses is related closely link financial and administrative corruption size that affects all the joints of the Iraqi state without sergeant Oouhsab Transparency International has revealed in its report for 2013, that Iraq has been in "the depths of the bottom of the corruption of the world rates", leading to "raise" political violence and inflict "damage" the process of building a state of "effective" and the lack of provision of services, as Iraq is still "a failure" in the delivery of basic services are insufficient, and that 23% of its people still live abject poverty and explained the organization, that "Iraq is still the most frequently occupies mattresses falling in Most international corruption indicators, in the year 2012, for example, occupied Iraq ranked as the most corrupt countries of 169 out of 175 countries.
The ministries of interior and defense of the most public-sector institutions affected by cases of corruption, where often Matertbt military scandals of corruption decades, has revealed an international reports on corruption cases estimated hundreds of billions of dollars over the past years between the kickbacks and bribes and salaries for soldiers, aliens and manipulation in the procurement deals arms contracts.
Followed by the Ministry of Electricity, which is considered one of the strongholds of the main corruption in the Iraqi state as it reached the size of the amounts spent on the electricity sector, approximately $ 80 billion without that successive governments unable to citizens equipped with an electric current continuously without interruption and raise the electrical system's capacity resulting in economic losses Vdrtha Energy Committee and electricity parliamentary $ 45 billion as a result of the continuation of a power outage, and anything said in the defense, interior and electricity is repeated in all the state ministries.
These international reports backed government Integrity Commission reports, which confirmed that the loss of Iraq in just the first five years following the fall of the former regime, as a result of administrative and financial corruption amounted to $ 250 billion without the need Vahalim throughout the subsequent years to guess the amount of what has been looted from the country's money enough for him Signal ??? With alarm to the report by British economic report refers to the smuggling of approximately $ 800 million a week from Iraq, without raising the large amounts awarded in salaries and benefits and pension incentives and remuneration and allowances of the three presidencies and government ministers and members of the House of Representatives, which has become a counterweight to the state budget and the cause of political rivalries and bitter conflict over positions in addition to the expenses and salaries of US military advisers who were hired in the war against state regulation.
The war in Iraq is going through a serious depletion of its resources and wealth threatens to turn it into a poor country between bankrupt overnight, especially if we know that Iraq's losses in the war on terror (estimated to cost one billion dollars a month) continue
Iraq's economy has lost approximately $ 25 billion since the fall of Mosul until now due to stop the Baiji refinery for work and stop the export of oil to neighboring countries and the closure of border crossings with the withdrawal of foreign companies operating in the electricity sector, as losing Iraq $ 3 million a day is the amount of Materbha Daash of export of Iraqi oil, and the banking sector has received a severe blow control of state regulation on the government and private banks in the occupied territories as enable radical organization of the seizure of the amount of half a billion dollars (500 million), in addition to seizing about 40% of the annual crop of Iraq's wheat as estimated losses in infrastructure in hot areas with hundreds of billions of dollars as a result of the fighting and mutual bombardment not to mention the high cost of the material needed by the state to carry out its responsibilities towards the displaced people from the conflict with the advent of winter, with an estimated value of carrying out relief through this chapter exclusively by $ 170 million zones.
The Iraqi government is required to find an urgent economic solutions to save the Iraqi economy and the preservation of the remaining of the structure of the state, which will see the end of the inevitable because of corruption is not terrorism, as everyone believed that the first solution is to corrupt accounting Whatever affiliations and loud office, try and retrieve the Mavi Zmthm of the Iraqi people's money absence of law The punishment is what allowed the rise of mafias linked parties dominate all state institutions and plundering its resources and constantly questioning officials from time to time about the functioning of the institutions and Miaatardahm
Difficulties and overcome them and make decisions and draw plans and policies with full transparency and undergo administrative and political practices of accounting and permanent surveillance with activating the role of the Office of Financial Supervision and the Office of the Inspector General and the Integrity Commission, followed inevitably begin to diversify sources of national income and not rely exclusively on oil and work to take advantage of it to bring in foreign investment and stimulate tourism, agriculture, industry and trade Kmahsal in some Gulf states sectors, which realized that the adoption of the exclusive oil will lead to a contraction in its economy Faqamt employ capital for development and push the global economy wheel with the inevitability of tax and customs reform the system and the system of awarding contracts, government procurement and the general budget and the fight against money laundering operations which is what can be Iraq needs to be reduced administrative and economic revolution urgent to save the country torn sectarian and located between the hammer and the anvil of terrorism, corruption of tragic destiny promised.
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Muhammad Ali
Tuesday, November 11, 2014
Iraq entered into a series of crises and political security, social and setbacks over the past years before that is added to the recent severe financial crisis is now threatening the country's bankruptcy Iraq to be the first oil country in the world facing this fate, that the economic crisis is the most serious could face states are a major cause wars and revolutions and the fall of governments and the collapse of the states.
Perhaps the gravity of the current financial crisis, which was acknowledged by the Iraqi Prime Minister lies in the timing of where comes at a difficult stage launches government work and held by Amal petition in the country out of the dark tunnel and locked in the Iraqi army fierce fighting for the restoration of territorial integrity of the organization Daash a Maittalb availability liquidity necessary to do so.
Economically can Bankruptcy defined as the government's failure to repay the entire debt and get this when the total debt is greater than the total assets, which means in practice that the government will be unable to meet its financial obligations and its employees' salaries which was confirmed by the International Center for Studies British and development, who said that Iraq would face bankruptcy report During the three years because of the budget, which now threatens the Iraqi oil sector is clearly a deficit.
That of the main causes of the current financial crisis through which Iraq is a decline in global oil prices and increased expenses, the sharp decline in the price of oil has started since the beginning of the month of June last, tumbled price of around $ 113 per barrel to less than $ 84 in October / Last October, a decline during this period exceed 20%, according to the International Energy Agency, an impressive rate in the budgets of oil-producing countries, which were always confirm that the $ 100 per barrel, the price of a fair and acceptable.
Perhaps the strange thing is that this decline comes at a time which is witnessing a regional arenas and international set of events that usually cause higher oil price war is still tearing two oil facilities are Iraq and Libya in the Gulf states seem caught between the hammer of the fear of the organization of the Islamic state and the anvil of concern Iranian project, either internationally Ukrainian crisis (the main cause of the Russian conflict, US West) still exist with a succession of raised economic both in terms of tightening Western sanctions on Moscow or the recent lifting of the price of Russian gas, which issued to Kiev, which suggests that the power struggle is behind the reduction in prices Oil?
According to the economic and political analyzes, Iraq today and as usual, pay the price for regional and international conflict in the field of energy Fmaihsal today and the opinion of specialists is an American Saudi plan to put pressure on Russia and Iran, through the reduction of world oil prices
Saudi Arabia seems to be the biggest beneficiary of this plan, which the Financial Times newspaper Mazkrth British Reducing oil prices would range from kindergarten to perhaps the most important goals:
1. The negative impact on the weary because of Western sanctions, the Russian economy.
2. The formation of pressure on Iran by targeting its economy and military strength by causing a loss of Iranian oil sector, which owns the Revolutionary Guards in which a significant share a Masaada to offer Iran a key concessions in nuclear negotiations with the international community, especially if we know that Iran has developed its budget for the current year on the basis of price $ 100 per barrel and the continuation of the current situation constitutes a severe blow to its economy collapsing due to the sanctions also at a time when trying to increase production to cover the shortfall in the budget.
3. The drop in oil prices will lead to declining investment in the field of high-cost US shale oil and that Americans recently begun relying upon to reduce their dependence on imported oil with the remaining negative effects of less than positive for the United States, which will contribute to this reduction has a tax cut on US consumer raging Obama and economic policies, he also China and the European Union will encourage turnout on Saudi oil demand.
Saudi Arabia, which has entered into this venture has huge reserves of hard currency will be able whereby the face of the budget deficit, a luxury settings lacking for Iraqis under the failed economic policies that relied on oil as the sole source of national income (93%) with the neglect of agriculture, industry, trade, tourism, animal husbandry and fishery sectors which led to the occurrence of this crisis, especially after the loss of Iraq's 400,000 barrels of daily because of the control of the organization Daash on some oil wells and the acquisition of Kurds to Kirkuk fields, and here are aware of the seriousness of the weak Iraqi position in this gambling so to speak, Manipulation oil prices as a weapon to achieve goals
Political push Iraq to invade Kuwait in 1990 when he used this weapon against him with consequent upon the horrors and tragedy are still suffering and paying for them to this day.
The increase in expenses is related closely link financial and administrative corruption size that affects all the joints of the Iraqi state without sergeant Oouhsab Transparency International has revealed in its report for 2013, that Iraq has been in "the depths of the bottom of the corruption of the world rates", leading to "raise" political violence and inflict "damage" the process of building a state of "effective" and the lack of provision of services, as Iraq is still "a failure" in the delivery of basic services are insufficient, and that 23% of its people still live abject poverty and explained the organization, that "Iraq is still the most frequently occupies mattresses falling in Most international corruption indicators, in the year 2012, for example, occupied Iraq ranked as the most corrupt countries of 169 out of 175 countries.
The ministries of interior and defense of the most public-sector institutions affected by cases of corruption, where often Matertbt military scandals of corruption decades, has revealed an international reports on corruption cases estimated hundreds of billions of dollars over the past years between the kickbacks and bribes and salaries for soldiers, aliens and manipulation in the procurement deals arms contracts.
Followed by the Ministry of Electricity, which is considered one of the strongholds of the main corruption in the Iraqi state as it reached the size of the amounts spent on the electricity sector, approximately $ 80 billion without that successive governments unable to citizens equipped with an electric current continuously without interruption and raise the electrical system's capacity resulting in economic losses Vdrtha Energy Committee and electricity parliamentary $ 45 billion as a result of the continuation of a power outage, and anything said in the defense, interior and electricity is repeated in all the state ministries.
These international reports backed government Integrity Commission reports, which confirmed that the loss of Iraq in just the first five years following the fall of the former regime, as a result of administrative and financial corruption amounted to $ 250 billion without the need Vahalim throughout the subsequent years to guess the amount of what has been looted from the country's money enough for him Signal ??? With alarm to the report by British economic report refers to the smuggling of approximately $ 800 million a week from Iraq, without raising the large amounts awarded in salaries and benefits and pension incentives and remuneration and allowances of the three presidencies and government ministers and members of the House of Representatives, which has become a counterweight to the state budget and the cause of political rivalries and bitter conflict over positions in addition to the expenses and salaries of US military advisers who were hired in the war against state regulation.
The war in Iraq is going through a serious depletion of its resources and wealth threatens to turn it into a poor country between bankrupt overnight, especially if we know that Iraq's losses in the war on terror (estimated to cost one billion dollars a month) continue
Iraq's economy has lost approximately $ 25 billion since the fall of Mosul until now due to stop the Baiji refinery for work and stop the export of oil to neighboring countries and the closure of border crossings with the withdrawal of foreign companies operating in the electricity sector, as losing Iraq $ 3 million a day is the amount of Materbha Daash of export of Iraqi oil, and the banking sector has received a severe blow control of state regulation on the government and private banks in the occupied territories as enable radical organization of the seizure of the amount of half a billion dollars (500 million), in addition to seizing about 40% of the annual crop of Iraq's wheat as estimated losses in infrastructure in hot areas with hundreds of billions of dollars as a result of the fighting and mutual bombardment not to mention the high cost of the material needed by the state to carry out its responsibilities towards the displaced people from the conflict with the advent of winter, with an estimated value of carrying out relief through this chapter exclusively by $ 170 million zones.
The Iraqi government is required to find an urgent economic solutions to save the Iraqi economy and the preservation of the remaining of the structure of the state, which will see the end of the inevitable because of corruption is not terrorism, as everyone believed that the first solution is to corrupt accounting Whatever affiliations and loud office, try and retrieve the Mavi Zmthm of the Iraqi people's money absence of law The punishment is what allowed the rise of mafias linked parties dominate all state institutions and plundering its resources and constantly questioning officials from time to time about the functioning of the institutions and Miaatardahm
Difficulties and overcome them and make decisions and draw plans and policies with full transparency and undergo administrative and political practices of accounting and permanent surveillance with activating the role of the Office of Financial Supervision and the Office of the Inspector General and the Integrity Commission, followed inevitably begin to diversify sources of national income and not rely exclusively on oil and work to take advantage of it to bring in foreign investment and stimulate tourism, agriculture, industry and trade Kmahsal in some Gulf states sectors, which realized that the adoption of the exclusive oil will lead to a contraction in its economy Faqamt employ capital for development and push the global economy wheel with the inevitability of tax and customs reform the system and the system of awarding contracts, government procurement and the general budget and the fight against money laundering operations which is what can be Iraq needs to be reduced administrative and economic revolution urgent to save the country torn sectarian and located between the hammer and the anvil of terrorism, corruption of tragic destiny promised.
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