Posted Today, 03:34 PM
This will be quick. The CBI governor and a French economic delegate from the Central Bank of France had a meeting at the French embassy in Baghdad yesterday.
The French will help the CBI jointly to prepare them with the monetary changes. The French CB has the expertise in these policies even with instability of the politicians.
The French CB was created in 1800’s and is now part if the European Central Bank which they helped create, I believe in ’93. This is HUGE!! The French have their backs now. One big happy Family:)) Cheers All:))
OCRUSH UPDATE Posted Today, 04:19 PM
Hello Steve and Ray
I hope all is well with you both. I am sending this to you so our members will have a clear outlook on certain timelines. These are facts taken by the Iraqi Constitution. It states the deadlines they have when the Ministers, Parliament, Presidency, Cabinets pass laws.
Our concern of course is the budget. There seems to be a confusion on how we came about on the days the law allows for legislation to be published in the gazette. Let me show them:)
This is all from the Iraqi Constitution:
This is from Article 134 Fifth Item Letter A:
A. Legislation and decisions enacted by the Council of representatives shall be forwarded to the Presidency Council to approve it unanimously and to issue it within ten days from the date of delivery to the Presidency Council, except the stipulations of Articles (114) and (115) that pertain to the formation of regions
The key words here are forward and to. You see many are confused thinking the presidency has 10 days to approve the legislation. What the above states is the CoR’s have 10 days to forward it to the Presidency. Ok next one concerns the timeline for the presidency.
This is Article 70 Item C:
The President of the Republic shall assume the following powers:
A. To issue a special pardon on the recommendation of the Prime Minister, except for anything concerning private claim and for those who have been convicted of committing international crimes, terrorism, and financial and administrative corruption.
B. To ratify international treaties and agreements after the approval by the Council of Representatives. Such international treaties and agreements are considered ratified after fifteen days from the date of receipt.
C. To ratify and issue the laws enacted by the Council of Representatives. Such laws are considered ratified after fifteen days from the date of receipt.
Article 70 pertains to what the presidency does after the legislation is passed by the Council of Representatives. The key words are ratify, issue, enacted by the CoR. Then the Presidency has fifteen days to ratify and approve it form the date of receipt from the CoRepresentatives.
You all see the timeline. The CoR passed the budget on March 7 and submitted to Ministry of Finance. They had 10 days. On March 17 (exactly 10 days) they passed it along to the presidency.
The Presidency now has 15 days to ratify it by law. As we all know the President ratified it and submitted it to the Judiciary body to publish it in the Gazette. Under the constitutional law, even though the president approved it, the Judiciary Body could sit on it till April 1 (15 days).
The budget is done and as we all know the new rate is in it. Attached to the Budget Law is the pay scale and pension law. They are waiting to publish it till the right laws are in place to make it possible to have the new rate. Its that simple. If the budget was not written with the new rate in mind they would have published it when the Presidency approved it. Very simple.
Now we know all the conditions were met with Kuwait and chapter vii will be lifted. The vote took place on March 21 with a Yes and a condition (3 homes and distribution to of monies to the families). That has been accomplished.
There is no need for another vote by the unsc, the conditions are met. This is why they gave iraq a deadline of March 31 and not April 15 or 21 or May XX, they needed this done before the RV. Simple.
Now all we are waiting for is the passage of the pertaining laws to have our RV. This has to take place by March 31, the latest April 1.
Reasons….read the above again:)) Ok….I am done with that:) OCRUSH