Thread: Archive News - Iraqi Dinar Think Tank - 24/01/201 - 23/07/2011

Economists: Iraq is suffering from inflation and the policy of "central" led him to

He is interested in economic affairs of Iraq, said Tuesday that Iraq is suffering from inflation in its domestic market, certain that this inflation comes because of the lack of accurate statistics to the problems plaguing the economy in the country. The adviser said the Iraqi Central Bank The bank is working to preserve the rank of one decimal place in order to achieve economic stability.

Majid said the picture of the Kurdistan News Agency (Rn) that "until now does not have accurate census of the problems suffered by the Iraqi economy and, inter alia, inflation rates in Iraq." Noting that "there is a decrease in the rates of inflation to 3%, but the citizen feels another way, especially for items required for daily consumption by low-income and economically may be suited to this statistics with the rates issued. "

He explained that the picture of "the trend towards increasing prices and activate the new customs law will lead to an increased burden on the Iraqi citizen, given that the decision was not within a comprehensive package to develop the Iraqi economy to accelerate development."

He added that "there is a problem facing the decision is that it does not compete with the local production of imports and inflation exists and any State may have given up on inflation."

And that "no doubt that the increase in the factors causing the cost of production in the high inflation and tight monetary policy by the Central Bank led to the curb inflation to a large degree, but fiscal policy is moving towards increased consumption, whether public or private, Re-distribution of income would lead to rising prices and inflation large in the Iraqi economy. "

In turn, the appearance of the central bank adviser Saleh (Rn) that "Iraq is witnessing today after the annual inflation fell to control levels of liquidity and reduce inflationary expectations." Pointing at the same time said that "Iraq needs today imported from Turkey in Euro, for example."

And the appearance that "low inflation, monetary policy, the central bank is successful in gaining control of the levels of liquidity and reduce inflationary expectations." Noting that "Iraq is an important importer of Turkey and strong euro, which will cause the dollar to decline against the cheap and low prices of products entering Iraq."

He pointed out that "the signs are good for low inflation, which fell to the level of one decimal after it was tied." Adding that "the central bank works to keep the rank of one decimal place in order to achieve stability in the introduction to this development and this makes investors comfortable situation to the lack of price fluctuations in the exchange rate and the general level of prices."

The Iraqi Council of Representatives approved last year a law that would impose customs duties on imported goods does not exceed 20 percent of its value. And began the Iraqi Trade Ministry a few days ago to grant import licenses to companies and investors, including all goods and goods in a move aimed at reducing the phenomenon of dumping the commodity. And allowed the ministry to enter the goods at border crossing points accumulated, until the middle of February next, also allowed the entry of goods that importers do not have a formal import licenses. The Customs Authority will apply the law to increase tariffs in the sixth month of March next.

http://www.aknews.com/ar/aknews/2/216805/

Originally Posted by Seaview

Jordan calls for Iraq to pay oil loans

Said ministry spokesman Assem Jihad, the Iraqi oil that the Iraqi government demanded that Jordan payments of crude oil have been exported to Oman at below-market price, during the years 2003 - 2006 and with 114 million U.S. dollars.

Jihad said that after visiting Jordanian Prime Minister Samir Rifai to Iraq, was the signing of several contracts between the two sides, and Iraqi Prime Minister Jordanian side to pay Akiem Iraq's oil is exported to Jordan at discounted prices, stressing that the Iraqi Oil Ministry is determined to pay Jordan amounts Loans of oil that is exported to Oman, because Iraqi oil is sold to Jordan at prices far below market prices.

http://radionawa.com/Ar/NewsDetailN....462&LinkID=155

Iraq demands Jordan to refund $114m credit for oil purchase

An official from the Iraqi Oil Ministry said the Iraqi government has demanded Jordan to pay back a credit of 114,000,000 U.S. dollars to Iraq for purchasing Iraqi crude oil during 2003-6, adding Jordan has demanded to increase Iraqi crude oil import to 30,000 barrels per day (bpd).

Asim Jihad, the spokesman for the Ministry told AKnews during 2003 to 2006 some 5.5 million barrels of the Iraqi crude oil were sold to Jordan, with an $18 discount from the market price for each barrel.

The Iraqi government claimed its credit when the Jordanian Prime Minister, Samir Ru'faee, recently visited Iraq.

Jihad added the talks between the Jordanian and Iraqi governments for paying back the debt are underway.

Under a deal effective until 2008, Jordanians benefited from the $18 discount, Jihad said. He added the deal was extended to 2011; some 10,000 bpd were to be transferred to Jordan from 2009-2011.

However, in his recent visit to Iraq, the Jordanian PM demanded increasing the import to 30,000 bpd, according to the Ministry spokesman. Oil revenues count as the key source of income for the country.

http://www.zawya.com/Story.cfm/sidZA...oil%20purchase

Iraqi Import Tariffs Rise Sharply from March

AFP reports that Iraq will sharply raise tariffs in March in the first major reform of its customs regime since the US led coalition that ousted Saddam Hussein slashed duties.

The new tariffs were detailed in 794 page document published by the Iraqi finance ministry’s public commission of customs and will come in to effect on March 6.

The duties, which are intended to protect local industries as the economy recovers following decades of violence and sanctions, range from zero to 80% of the value of products being imported.

Tariffs for rice, sugar and antibiotics will be set at 5% while duties for cars are 15%.

The law replaces a variety of past regulations including some dating back to the time of the Coalition Provisional Authority, the occupation authority charged with administering post invasion Iraq.

In Order 12, originally signed June 12th 2003, the CPA suspended tariffs on all products, notably leading to a massive influx of used cars some of which are still on Iraq’s streets today.

Order 38, signed in September 2003, created a reconstruction levy — a single tariff of 5% on all imported goods except food, medicine, books, clothing and products related to humanitarian assistance or Iraq’s reconstruction.

Receipts from the levy which was implemented at the start of 2004 were meant to be used only to assist the Iraqi people and support the reconstruction of Iraq.

http://www.iraq-businessnews.com/201...ly-from-march/

Deputy for the National: compensation for citizens amounts of money for the ration will hurt them

The member of the Iraqi Council of Representatives for the National Alliance on Wednesday, the Council of Ministers resolution compensation for citizens $ 15 thousand dinars harmful to the citizens that it will work to raise the prices of basic foodstuffs in the commercial market.

Said Abdul Hussein Abtan MP for the province of Najaf to the Kurdistan News Agency (Rn) announced today that "This decision will harm Iraqi citizens as it works to raise the prices of basic foodstuffs in the commercial market," stressing that "any draft resolution did not contain the provision and increase the ration card items is a matter of Denied. "

He asked "the government to provide the distribution of all components of the ration card for citizens," adding that "prejudice or revocation is a red line as it represents the mainstay of food for millions."

Abtan called "to increase the ration and tackle corruption on the country's Ministry of Commerce and bear full responsibility for securing all the food in the ration card," he says.

And on the reduction of the salaries of the three presidencies explained by saying "we demanded from the outset to reduce the salaries of the three presidencies and members of the House of Representatives and converting a portion of the amounts withheld to the social protection network that covered by this network are from the poorer classes in society and widows and divorced women, but a large portion of them Aestelmon more than 100 thousand dinars every two months or three months."

However, "while the department can take advantage of the other to secure the ration card items and increase as soon as possible and distributed to citizens, especially after the delays in the distribution of materials."

The Iraqi street is witnessing a surge in criticism of the Ministry of Commerce against the backdrop of the gradual decrease in the delivery of the ration card, while there was a proposal from the Presidency of the Council of Ministers to compensate citizens amounts of money monthly, rather than the shortfall to such materials was up to 15 thousand Iraqi dinars for every citizen.

Observers believe that the budget allocations for 2011 show that the amounts allocated to the ration card of 3 billion dollars, which is the same amount in the budget last year, so the suffering will continue as these allocations are insufficient and do not cover the needs of the card items upon which the vast majority of the population with limited income and subtropics the poverty line.

Prime Minister Nuri al-Maliki said during a press conference held in Baghdad on Sunday, the sixth of February of this that the Council of Ministers seeks to link the distribution of the ration card items and import of provincial council after the government's inability to federal control, stressing that "the provincial councils have the capacity to provide vocabulary ration card."

The federal government last year issued a decision to withhold the ration card items for the owners of grades higher at the time of Iraq relies on the provision of the ration card items to the general citizens since 1991, when it was imposed embargo on Iraq as part of the international sanctions imposed on Saddam Hussein's regime against the backdrop of invasion of Kuwait.

The members of the House of Representatives said that's 130 deputies refused to ratify the budgetary Federal unless allocates part of the Iraqi people, at the time called for the Chairman of the Integrity Committee in the House of Representatives earlier, the independent MP, now Sabah al-Saadi Iraqi government to distribute 25% of oil revenues to people directly.

http://www.aknews.com/ar/aknews/2/216812/

Parliament to discuss 2011 budget bill after amendments

Iraqi parliament will discuss in its Tuesday session the 2011 fiscal year budget after amendments.

The reforms to the budget include an increase in the allocations for the ministries of education, agriculture, and a number of Iraqi provinces to meet their demands including the Anbar and Diwaniya provinces.

Yet, the budget bill is still subject to criticism. Nahida al-Daini, a member of the al-Iraqiya list told AKnews that "some provinces like Diyala and Kirkuk did not receive an increase in their financial allocations, especially that these two provinces were neglected during the past period."

Iraq's 2011 budget bill is estimated at US$79 billion after calculating the price of one barrel of oil at US$ 73 with an export rate of 2.25 million bpd. Iraq, a a member of the OPEC, depends on oil revenues to finance about 95 % of its annual budget.

The 2011 budget is expected to suffer from a deficit of the about US$5 billion.

http://www.zawya.com/Story.cfm/sidZA...r%20amendments

Iraqi drafts $82.6bn budget for 2011

An ID96.6trn ($82.6bn) budget has been proposed by the Iraqi cabinet for 2011, its latest revision of its spending plans after haggling with lawmakers amid rising oil prices, Reuters has reported. The bulk of the budget, ID66.6trn, had been allocated to operational expenses, while ID30trn would go to investment, government spokesman Ali al-Dabbagh said. The budget was based on an average oil price of $76.50 per barrel and 2.2 million barrels per day in crude exports.

http://www.ameinfo.com/255945.html

Events in Egypt show U.S. understanding of Middle East is almost zero

The U.S. has shown that it does not understand and comprehend the pulse of the street in the Arab world despite its multifarious intelligence agencies. It has drastically failed to weigh the influence governments, oppositions and Arab populations exercise in the Arab world. It seems the U.S. relies heavily on unilateral sources which are very close to the circles of power in the Middle East and lacks the ability to interpret and decipher the situation and its likely course in the future. In thousands of documents WikiLeaks has released of secret correspondence regarding the Middle East, there has been no hint that the days of U.S. allies in the region were close.

Today, the U.S. tries its best, through contacts with other Arab capitals, to contain the situation. But this time, Washington is not seeking the assistance of International Monetary Fund to help the region’s countries privatize their economy and societies. It is no good blaming the past. The U.S. now realizes change is coming. Arab leaders, after the events in both Tunisia and Egypt, have taught every leader in the Middle East a lesson. But what is striking in all this is the fact that the U.S., while realizing that change is in the offing, does not seem to have grasped the lesson.

The Egyptian people want the whole regime to go. The U.S. is striving to bring about the type of change that will change the head and keep the regime. Could it be that U.S. politicians do not have efficient translators to render into proper English what the millions of Egyptians have been shouting in the past two weeks. The motto in the Liberation Square in the heart of Cairo calls for a fresh start and a change not only in the head but the whole regime. This is the meaning of the slogans the Egyptians have been raising for more than a fortnight. Did anyone translate them differently for the U.S. administration?

There are no indications so far that the U.S. would accept a democratic leadership that dispenses with the legacy of the present regime. Therefore, the U.S. is only interested in the type of negotiations and discussions that will find an exit for the head of the regime and keep his base intact. This also shows that the U.S. interprets the events in Egypt as a vendetta between the Egyptian people and their president. Otherwise, how could one understand U.S.’s willingness and happiness with the second man in command, i.e. the new vice-president.

Who turned President Hosni Mubarak into a dictator? There is no evidence that he owes his dictatorship to extra-terrestrial beings. Egyptians understand that Mubarak owes his tyranny to the U.S. and his cronies who the U.S. would like to see at the helm of power instead of him. Certainly, Mubarak is very sad now. His sadness does not emanate from the fact that his own people are trampling on his portraits with their feet almost everywhere in Egypt.

Mubarak is sad because he has come to realize his standing in U.S. eyes.

http://www.azzaman.com/english/index...02-06\kurd.htm

Sistani shows dismay the deterioration of services and increasing corruption in the State

Press sources said that the supreme authority Ali al-Sistani refused to receive the President of Parliament, Mr. Osama Nujaifi in solidarity with the Iraqi people and in protest against the deterioration of services and the growing corruption in state facilities.

Alsumaria News said, citing the source of its own: "The reference to avoid receiving the President of the Iraqi parliament Osama Najafi, yesterday, because of events taking place in the Iraqi street to protest against poor service and poor ration card and the financial and administrative corruption."

The source, who requested anonymity, that "the reference students from government officials to work hard to improve services to citizens and the fight against corruption," adding that "Sistani disturbed by the poor services and the deterioration of the ration card and rampant corruption in the joints of the state," according to the source.

http://www.wasatonline.com/index.php...-54&Itemid=123

Source: Talabani's visit to Syria on Saturday and Kuwait on February 20

Confirmed high-level Iraqi source in the Syrian capital Damascus, Thursday, President Jalal Talabani will visit Damascus at the head of a ministerial delegation next Saturday at the official invitation of his Syrian counterpart Bashar al-Assad, adding that Kuwait will be the second leg in 20 of the month.

The source said in an interview for "Alsumaria News" that "Talabani will pay an official visit to Syria next Saturday at the head of a ministerial delegation, in response to a call from Assad conveyed by Syrian Prime Minister Muhammad Naji al-Otari during his visit to Baghdad in mid-last month," noting that "the visit a four-day, two of which are official. "

The Syrian Prime Minister Muhammad Naji al-Otari arrived in Baghdad, January 15, on an official visit lasted one day, during which he met Prime Minister Nuri al-Maliki and senior Iraqi officials, and discussed with them the inter-relationship, also gave congratulations on the occasion of the formation of the Iraqi government.

The source, who requested anonymity, that "the delegation accompanying the President includes the Ministers of Foreign Affairs Hoshyar Zebari, and financial Rafie al-Issawi, oil, Abdel Karim and coffee, as well as Chairman of the National Investment Sami Araji, the President Office of the Presidency of the Republic Naseer al-Ani, and a number of officials and advisers in Iraqi government. "

The source pointed out that "the talks Talabani in Damascus will focus on strengthening bilateral relations and attempt to push for speedy implementation of agreements and memorandums of understanding signed between the two countries in various economic fields, especially oil and gas, as well as the situation in the region and the Arab Summit to be hosted by Baghdad at the end of next March" .

The Syrian Foreign Minister Walid Muallem announced, on Wednesday before a delegation of the Kuwaiti Journalists Association confirmed that the presence of Syria in the event of the Arab summit held in Baghdad, stressing his country's insistence on holding the summit in time.

http://www.alsumarianews.com/ar/1/17...-details-.html

Originally Posted by Seaview

A parliamentary committee: oil and gas law requires political consensus for adoption

The Commission on oil and energy parliamentary, Tuesday, that the law of oil and gas requires a political consensus between the blocks before they are discussed within the Commission, stating that the law may be voted on during the ten days provided that the political agreement.

The committee member said Bayazid Hassan, told the Kurdish news agency (Rn), "The oil and gas law had not been included so far within the functions of the Commission on oil and gas representative," noting that "the law needs to be political consensus between the blocks before going it to the House of Representatives."

And that "the absence of political agreement means that the law is passed even if the amendments to it," pointing out that "the law may be voted on in a period not to exceed ten days, subject to the political consensus."

And the failure of the House of Representatives to pass Bdorth previous oil and gas law, which was expected to rise if approved oil situation.

In the opinion of a number of experts involved in studies of oil that Iraq lacked until now to the political oil and clear-cut, which was a reason to delay the development of its oil wealth.
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http://www.aknews.com/ar/aknews/2/216569/

Deputy for Iraq: oil and gas law will be adopted after ratification of the strategic policies

The deputy of the Iraqi List, said Thursday that oil and gas law will be approved in the Iraqi Council of Representatives after the adoption of the Law Council of strategic policies.

Watermelons, "Jamal told the Kurdish news agency (Rn) that "the law of oil and gas law will adopt the following strategic policies as will a lot of differences over oil policy in the country."

Nor approved to now the law of Council policies strategy, although the agreement of the political blocs such as the announcement of the formation of the Government to be the boss Iyad Allawi before the meeting of the Council of Representatives first, which is part of the executive and to replace the National Security Council, as well as other tasks, and need to Minister each according to its competence in the presence of the meetings held in the fields of competence as it is present at the Council of Ministers.

The committee, the parliamentary oil and energy, the earlier that the law of oil and gas requires a political consensus between the blocks before they are discussed within the Commission, stating that the law may be voted on during the ten days provided that the political agreement.

The melon that "the Iraqi List, has no objections to the wide current version of the oil and gas law and will work to pass it as soon as possible in order to raise the ceiling on Iraqi oil exports."

He called economists earlier in the House of Representatives need to enter the Iraqi Council of Representatives an amendment to paragraph 18 of the oil and gas law relating to the establishment of the Federal service and the voting for the organization of the oil wealth in the country, in order to limit the function of the Federal service to supervise the mechanism of action of the Ministry of Oil and its affiliates.

He watermelon that "failure to approve oil and gas law that mean the process of extracting oil in the country and increase its production because of the problems between Baghdad and Arbil, and the uncertain nature of the relationship between the two oil law."

And the failure of the House of Representatives to pass Bdorth previous oil and gas law, which was expected to rise if approved oil situation.
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http://www.dinarrumor.com/showthread...tegic-policies