Issues between political parties always happen, this is a regular occurrence even in Iraq. Different opinions and ideas might clash but, when there's a supportive 'third party' who is willing to clear out the existing strife, rebuilding of what was once thought as totally devastated is never far to reality – an influential “third party” is what Iraq needed the most. Due to the 80% similarities of the Kurdistan oil and gas law draft between the Federal Government, the Federal Court and UN were forced to postpone the approval of the oil and gas law. However, UN seemed to notice the efforts made by Iraq and purposed not to aggravate the disputes between the two parties thus; UN decided to take action to help resolve the ongoing issues. Posted last September 19, 2012 on Baghdad News, Jawad Albzona, Independent Deputy in the National Alliance, committed to help resolve the issues that existed between Erbil and Baghdad. According to Jawad, since a lot of problems will only be given attention in the next election cycle, UN will intervene to clarify the issue. Jawad Albzona even stated that, “Everyone convinced of the need dialogue to resolve the outstanding problems, but differences between the federal government and the Government of the Territory large and cannot be solved in the electoral cycle current and will be migrated to the next session, noting: but it is possible understanding on certain issues in order to continue operation political.” Albzona also added, “Article (140) need to agree between Baghdad and Erbil, and cannot be in the current phase, as well as differences on the law of oil and gas, adding that the UN will intervene in order to bring the views and resolve this issue.” Indeed, Iraq needs third party help to stop the bleeding and cease the delay and, UN can definitely make a big role in speeding up the process. What even made the UN intervene the ongoing issue? Does this have to do with the coming International Fair in London this November 2012? Just how determined Iraq is that they even needed to seek UN's help to speed up the process and obtain understanding between Erbil and Baghdad? We can assess on what the Deputy Prime Minister, Ruz Nuri Shawis, said last September 19, 2012 in a speech at the conference and exhibition on financial, “The government is serious in continuing financial sector reforms and banking and support efforts to improve the banks Iraqi civil to be able to contribute to an effective and serious in the process of building modern Iraq.” Truly, the Iraqi Government greatly appreciated the efforts made by the private sectors and other supportive foreign investors who were sober enough to understand and ensure the common interests of all parties. However, how long do we have to wait for the oil and gas law to be formally approved? Will this intervention by outside bodies hype up the current speculators or will this move only raise more questions and divisions? Nobody knows what could be the outcome of the movements done by some of the foreign bodies but, one thing is certain this time, Budget Bill for 2013 is sent just last September 19, 2012. According to AK News (A Kurdistan News Agency), the estimated budget for next year is 132 trillion IQD, based on the price of one barrel of oil set at $90. Sounds big? Well, this might be well enough to help the Iraqi dinar catch up with the future challenges that 2013 prepared. Everybody is looking forward to the approval of the country's oil and gas law because everyone (I believe) knows the potential of Iraq. If it could provide at least 30% of the world's oil demand, wouldn't that make a big difference to the economy and to the existing currency? ************************************ Written by DrDinar for the DrDinar blog This article can be reprinted online and offline as long as this ad remains and is hyperlinked online. ************************************
DrDinar is here to help you with your iraqi dinar problems and give you tips on what's the best thing to do about your dinar. DrDinar, however, is not a substitute for a financial advisor so it is advised to consult to a financial advisor before doing anything.