Archive for the ‘Iraq’ Category

Mobile payment system in Iraq aims to help 12000 farmers return – Rudaw

ERBIL, Kurdistan Region Short message service (SMS) technology will allow thousands of rural farmers to be paid electronically and return to their agrarian livelihoods in areas of northern Iraq recently liberated from ISIS and in the Kurdistan Region.

They can then collect their wages from any certified money mobile transfer agent, provided their code and identity number match those registered.

The Belgium government-funded programme will support 12,000 conflict-affected people in 30 villages in Kirkuk, Anbar, Salahaddin and Nineveh governorates.

As well as providing much-needed income for participants, the programme will improve agricultural production in the surrounding communities, through activities including rehabilitating canals for irrigation to grow crops and preparing farmland for planting, said Fadel El-Zubi, FAO Representative in Iraq El-Zubi.

FAO and Iraqs Zain telecommunications have partnered for the cash-for-work programme.

This, in turn, will encourage community members still displaced by conflict to return home and begin farming again, Zubi added. FAOs aim is to support people to get back on their feet as quickly as possible, and reduce their reliance on food assistance.

As of 15 July, more than 3.3 million people remained displaced within Iraq, while about 2 million had returned home, according to UN data.

Around 12 million Iraqis live in rural areas and depend on agriculture for their livelihoods. Decades of conflict have destroyed fields, farms, infrastructure, livestock and crops. The use of mobile technology will streamline the safe delivery of cash transfers to participants, who are some of the most vulnerable people in the country, said Zubi.

FAO estimates $74.5 million is needed to assist 1.39 million people this year who work in the husbandry and agriculture industries.

In addition to fighting ISIS, the US-led global coalition is committed to stabilization. In March, they announced more than $2 billion of funding commitments from partners.

Tillerson explained that stabilization for the State Department means security through local law enforcement faces they recognize and restoring fundamental needs to the community power, water, sewage.

He added: We get the essentials in place. Were not there to rebuild their communities. Thats for them to do and thats for the international community to marshal the resources to allow them to do that.

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Mobile payment system in Iraq aims to help 12000 farmers return - Rudaw

Knights to send $2 million to restore Christian town in Iraq – Catholic Herald Online

A Catholic church destroyed by Islamic State militants in Karamdes, Iraq (CNS photo/Archdiocese of Erbil)

The Knights of Columbus are seeking to help Christians return to their homeland on the Nineveh Plain

In 2014, the Islamic State removed hundreds of families of religious minorities from their homes in Karamdes, a mostly Christian town on the Ninevah Plain in Iraq. Just over two years later, the town, also known as Karemlash, was liberated.

The Knights of Columbus will raise $2 million (1.5 million) to assist these families in returning to their homes, according to Knights CEO Carl Anderson, who announced their pledge at the Knights 135th annual Supreme Convention being held this week in St Louis.

The terrorists desecrated churches and graves and looted and destroyed homes, Anderson said in his annual report, which was livestreamed from the convention. Now we will ensure that hundreds of Christian families driven from their homes can return to these two locations and help to ensure a pluralistic future for Iraq.

The Knights are following the example of the Hungarian government, whose new spending bill allowed for $2 million to be sent to the Archdiocese of Erbil in Iraq, assisting with the rebuilding of a Christian community near Mosul, Iraq.

Families who were previously displaced from their homes were able to return to their homeland because of the government of Hungary. This example served as proof to the Knights of the impact of returning families to their homes.

The cost of resettling one family is around $2,000, the amount the Knights are encouraging councils, parishes and individuals to donate.

These Christian communities are a priceless treasure for the Church, Anderson said to the Knights attending the convention. They have every right to live.

The Knights have actively sought to provide humanitarian aid to Christians in Iraq, as well as Syria and the surrounding areas, donating over $13 million. In June Anderson joined Chris Smith, Republic congressman for New Jersey, and Anna Eshoo, Democrat congresswoman for California, in speaking at a press conference to urge the Senate to pass legislation that would provide US humanitarian aid to the Archdiocese of Erbil, after the House unanimously voted in favour of the bill.

Pope Francis commended the Knights for their work in the Middle East in a letter sent to the Knights at the convention from Vatican Secretary of State Cardinal Pietro Parolin. The Pope professed his gratitude for the commitment of the Knights to supporting our Christian brothers and sisters in the Middle East, according to the letter.

Pope Francis also described the Knights relief fund as an eloquent sign of your orders firm commitment to solidarity and communion with our fellow Christians.

In a press conference last month, Secretary of State spokeswoman Heather Nauert reaffirmed the use of the word genocide to describe the situation of Christians and other religious minorities in the Middle East.

When we look at Iraq and we look at what has happened to some of the Yazidis, some of the Christians, the secretary [Rex Tillerson] believes, and he firmly believes, that that was genocide, Nauert said.

In March 2016, then Secretary of State John Kerry first declared that ISIS militants actions in Iraq and Syria against minority Christian, Yazidi and Shiite Muslim groups was genocide.

The Knights of Columbus will also join the US Conference of Catholic Bishops for a Week of Awareness for persecuted Christians, which will begin on November 26 with a day of prayer for persecuted Christians.

In his annual report, Anderson urged each council of Knights to mark this day with highest priority.

Our work has truly changed history, Anderson said.

The work to rebuild Karamdes will begin in the first week of August and any funds raised will go directly to the project.

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Knights to send $2 million to restore Christian town in Iraq - Catholic Herald Online

Ending Iraq’s Humanitarian Crisis – The Jerusalem Post mobile website (blog)

Iraq, once the cradle of civilization, has and continues to experience one of the most horrific violent conflicts in modern history that defies any semblance of civilized humanity. It is hard to imagine the mammoth death and destruction that has been inflicted on the Iraqi people by foreign powers and domestic terrorism. Yet, the country can still overcome the horrors of the past 14 years, provided its leaders correctly reassess the changing regional and domestic dynamics and agree to allow all Iraqis, regardless of their sect and cultural orientation, to choose their own political and civil structure.

Since the invasion of Iraq by the US and its allies in 2003, up to 500,000 civilians have been killed. From 2006, there have been 40,000 recorded terrorist attacks averaging more than 7,100 deaths per year. Nearly 225,000 have become refugees, and 3.1 million are internally displaced. The destruction of infrastructure and socio-economic dislocation created widespread hunger and disease, especially among the tens of thousands of children who are vulnerable and suffering from malnutrition. All this human and material devastation culminated with the rise of ISIS that has ravaged the country, while the internal indiscriminate terrorism between Sunnis and Shiites continues unabated.

This tragedy is unfolding as the Iraqi government and people are still languishing in the shadow of death and ruin, wandering about the political wilderness in search of ways to piece the country back together in the wake of ISIS eventual defeat. These efforts, however, may well prove to be an exercise in futility.

The Abadi government ignores the fact that the Iraqi Kurds are on the verge of establishing their own independent state following the upcoming mid-September referendum, and that the Sunnis will reject the status quo ante and never again subjugate themselves to the whims of a Shiite government in Baghdad.

Having suffered intense discrimination, oppression, and wanton violence perpetrated against them, especially during the eight years of the Maliki government, the Sunni community has long since concluded that their future wellbeing depends on their will and ability to govern themselves. They are determined to follow the footsteps of their Kurdish counterparts by establishing autonomous rule as a prerequisite to ending Sunni-Shiite bloodshed.

The carnage between the two sides that started immediately following the 2003 Iraq war continues to rage, claiming the lives of hundreds each week, and is unlikely to abate as long as: a) the Iraqi government and outside powers, including the US, are still absorbed by the illusion of maintaining Iraqs geographical unity; and b) Shiite Iran and Sunni Saudi Arabia are waging a proxy war in Iraq to secure their geostrategic interests to become the regions hegemon.

In many ways, the rise of ISIS and its control over much of the Sunnis three provinces further deepens the Sunnis resolve to fight for their independence from any internal or external power. In addition to the egregious mistreatment they have suffered under the Maliki government, the Sunnis endured the brunt of ISIS brutality and horrific ruling methods.

Children were affected the most, as they were witnessing the unspeakable cruelty of ISIS in real time. Children were recruited to commit the most heinous crimes; hundreds of thousands have been traumatized as they were forced to watch beheadings and the gruesome treatment of innocent bystanders suspected of committing petty crimes.

The liberation of Mosul offers a new beginning to build a promising future for Iraq. In that regard, I maintain that Iraqs strength rests on the three main sects becoming first politically independent from one another. The central government must support the establishment of an independent Sunni entity and amend the constitution to reflect the new political and territorial divisions.

Internally, the Iraqi government must address the endemic corruption which consumes nearly one third of the countrys revenue, establish a fair and impartial judiciary, engage in economic development, and refrain from infringing on the Kurds and Sunnis internal or external affairs as they put their own houses in order.

Given that the Sunnis three provinces have no oil, their economic development depends on securing their share of revenue by passing the long-anticipated oil law. In addition to that, the new Sunni entity would need the financial support from the Gulf states, the US, and the EU to become a viable entity.

The central Shiite-led government in Baghdad must not hold them hostage by denying them their legitimate share, thereby preventing them from establishing their own state. This would be the recipe for continuing bloodshed and destruction that will only deepen the gulf between them, to the detriment of the countrys future.

The benefits of this roadmap are enormous, as it will first impact directly on the future stability of Iraq, and bring an end to the proxy war between Saudi Arabia and Iran as they come to realize that neither can change the reality of Sunni-Shiite coexistence, both in Iraq itself and as neighbors. This arrangement would also mitigate the Iranian threat, which the Gulf states and Israel view as the source of regional tension and violent conflict.

Moreover, it would significantly reduce militant activities, enhance regional security, and start a process of peace and reconciliation to end the revenge and retribution that would inevitably ensue, given the horrifying violence that they have inflicted on one another for the past fourteen years.

It is only when the Sunnis establish their own entity and build the infrastructure of an independent state will they feel empowered and confident to work closely with the Kurds and the Shiites as equals, which will pave the way for a functioning confederation between them at a later date.

The role of the US at this early stage is critically important. The US must support the establishment of an independent Sunni entity, maintain residual forces throughout the transitional period, train and equip security personnel, rein in extremist groups, and guide the Sunnis in the development of a political structure consistent with their beliefs, culture, and aspirations.

To be sure, the death and destruction from which the Iraqis have suffered during the past 14 years must come to an end. Children have been affected the most; they have suffered from malnutrition, disease, and dislocation, with enduring psychological scars that will last a lifetime. Tens of thousands have been killed, and as many became orphaned, not knowing what happened to them and why.

It is time to end the Iraqi tragedy. Much of the healing and prospects for a better and more promising future is in the hands of the Iraqi people themselvesit is they who must rise above sectarianism, and it is they who must chart their own destiny.

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Ending Iraq's Humanitarian Crisis - The Jerusalem Post mobile website (blog)

Russia, Not the US, is Now Calling the Shots in the Middle East With Iran and Iraq – Newsweek

Russia's deputy foreign minister met Wednesday with leading diplomats from Iran and Iraq to discuss combating Islamist extremist groups and the future of Syria.

With the U.S. minimizing efforts to topple the government of Syrian President Bashar al-Assadand Iraq expressing weariness of the U.S.'s extended presence in its country, Russia has become an increasingly important power broker in the region. Russian Deputy Foreign Minister MikhailBogdanov met in Moscow with Iranian Deputy Foreign Minister for Arab and African Affairs Hossein Jaberi Ansari and Iraqi Deputy Foreign Minister for Political Affairs Nazar Khairallahto emphasize the "principled position of the three countries" on Syria. All threeexpressed support for Assad in a lengthy war pitting his armed forces against jihadists and opposition groups, according to Syria's pro-government Al-Watan newspaper and Iran's semi-official Tasnim News Agency.

Related: U.S. is working with Russia to prevent a new war in Syria, Tillerson says

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Bogdanov also took the opportunity to attack the U.S.'s most recent round of sanctions against his country.The Russian diplomat called the sanctions "absolutely unlawful" and said they would further alienate the U.S. at a time where Washington is seeking to work more closely with Moscow in the Middle East and on other international affairs.

"This is sad, it affects our bilateral relations," Bogdanov said, according to the state-run TassRussian news agency. "I think that it does not add optimism regarding the possibility for us to coordinate our approaches towards a whole range of regional issues, including our relations with such an important partner and neighbor as Iran."

People celebrate carrying Russian and Syrian national flags inside Waer district, after rebel fighters and their families evacuated the besieged district in the central Syrian city of Homs, following an agreement was reached between rebels and Syria's army, May 21, 2017. Since intervening on the Syrian government's behalf in 2015, Russia has become the leading international power in the war-torn country, overshadowing the U.S. Omar Sanadiki/Reuters

Russia and Iran, against which the U.S. also recently rolled out more sanctions, have grown closer over their mutual support for Assad, who the U.S. accuses of carrying out human rights abuses. Both countries have contributed money and military power to bolster the beleaguered Syrian military, allowing it to retakemuch of the territory previously lost to the Islamic State militant group (ISIS) and other insurgentstrying to topple the government since 2011. Tehran took the unprecedented step last year of allowing Russian planes to use its territory to bomb positions in Syria, and the two countries managed to draw Turkey, which deeply opposes Assad, intopeace talks following the Syrian government's recapture of Aleppo in December.

Assad's comeback coincided with a greater U.S. focus on fighting ISIS and a decline in U.S. support for rebel groups. The CIA ultimately cut links to the Syrian opposition, leaving only Pentagon support for the Syrian Democratic Forces, a mostly Kurdish alliance of Arabs and ethnic minorities deeply involved in fighting ISIS. While Kurdish forces, such as the People's Protection Units (YPG), have seen major successes in battling ISIS across northern Syria, their popularity islimited among the rest of the mostlyArab country. Special Operations Command head Raymond Thomas said last month that, once ISIS is defeated, the U.S.'s counterterrorism mandate in Syria will likely expire, but not Russia's.

The U.S.'s influence in Iraq may also be waning, in Russia's favor. Last week, Iraqi Vice President Nouri al-Maliki visited Moscow to make an appeal for close relations with Russia in order to "balance" the U.S. and its agenda. Just two days earlier, Iraqi Defense MinisterIrfan al-Hiyali met with his Iranian counterpart to talk about greater cooperation between the two countries. After nearly15 consecutive years of U.S. presence in Iraq, Baghdad appears to be looking elsewhere for future security ties.

Two Iraqis take a selfie while stepping on a U.S. flag during a parade marking Al-Quds (Jerusalem) International Day organized by the Popular Mobilization Forces in the southern Iraqi city of Basra, June 23. Iran's growing influence in Iraq and Syria has presented a serious challenge to U.S. interests. HAIDAR MOHAMMED ALI/AFP/GETTY IMAGES

Both the U.S. and Iran played a major role in beating ISIS in Iraq. The U.S.-led international coalition lent its support to the Iraqi military and Kurdish forces, while Iran backed the majority-Shiite Muslim Popular Mobilization Units, which Iraq ultimately recognized as part of the country's official armed forces. Last month, Iraqi Prime Minister Haider al-Abadi declared ISIS defeated in its former stronghold of Mosul, but tensions remain between some local fighters and the U.S. The Iran-backedIraqi Hezbollah Brigadescalled for the withdrawal of the U.S., which spokesperson Jafar al-Husseini accused of trying to sabotage a potential alliance between the "resistance axis" of Iran, Iraq and Syria.

"The goal of the Americans is to control the Iraqi-Syrian border and isolate the axis powers," Husseini said, according to Iraqi journalist Muntather al-Omri. "We won't allow any American presence in Iraq under any circumstance."

Russia, Iran, Iraq and Syria maintain a joint intelligence sharing operation known as the 4+1, which includes the Iran-backed, Shiite Muslim militant group Hezbollah of Lebanon. In addition to Russia's involvement with these countries, it has reportedly established relationships with Egypt and Libyan military leader KhalifaHaftar in an effort to extend its sphere of influence in the Middle East and the Mediterranean.

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Russia, Not the US, is Now Calling the Shots in the Middle East With Iran and Iraq - Newsweek

Iraq Sells Bonds. Greed Beats Fear. – Bloomberg

If Argentina can raise money for 100 years, and Greece can print bonds despite still being in a bailout -- then why not Iraq?

The war-torn country has defied conventional logic by issuing a $1 billion five-year security on Wednesday, without the backing of the U.S.The state's declaration of victory over Islamic State in Mosul, the country's second-largest city, has clearly provided the impetus to brave issuing debt on its own.

Investor demand was huge -- the deal was seven times oversubscribed. This enabled the lead managers to lower the indicated yield by 25 basis points to a final 6.75 percent. This is lower than what's available from a similar Ukraine bond, though it is well above the recent five-year issue from Greece, which trades at 4.6 percent. The credit ratings are similar.

Joining The Club

Iraq's yield is within what's appropriate, given where peers are trading.

Source: Bloomberg

So what's the appeal? Iraq does have the benefit of being able to export oil again.Holders of the 2028 bond comprise all the major emerging market investors, and it is likely they have queued up to take part in this new deal. An issue of this size will enter the emerging market bond indexes, and with an order book so strong it is likely to perform well. It becomes a self-fulfilling must-buy if investors are not to underperform their peers.

Iraq's bond oversubscribed by a factor of

7

But that should not be an investment principle.

Welcome Territory

The yield on Iraq's existing 10-year bond has dropped steadily, creating perfect conditions to issue new debt

Source: Bloomberg

This is another example of the insatiable demand for yield that so worries central banks and market commentators. This would seem to define the very idea of a credit bubble: A wholly insufficient reward for what must be seen as a considerable risk, as Iraq is still in the midst of a serious civil conflict in the most unstable region in the world.

Return of capital seems to have taken a back seat to a decent coupon.

This column does not necessarily reflect the opinion of Bloomberg LP and its owners.

To contact the author of this story: Marcus Ashworth in London at mashworth4@bloomberg.net

To contact the editor responsible for this story: Jennifer Ryan at jryan13@bloomberg.net

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Iraq Sells Bonds. Greed Beats Fear. - Bloomberg