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

Central warns the real dangers awaiting the Iraqi money internationally

The adviser to the CBI on Sunday, repercussions of the Federal Court decision and its impact on exposing the Iraqi funds under the umbrella of an international bank to risks and fabricated claims of the pending acquisition by the application of the resolution.

He said the appearance of Mohammed Saleh told the Kurdish news agency (AKnews) announced today that "the international financial environment risky and instead of causing the Central Bank of judicial power that we diversify its needs in the management of financial reserves in foreign country for the salvation of any legal proceedings affecting the debt of the Iraqi government and that are protected under Council resolution UN Security 1483."

The court of Iraqi federalism in its recent decision to January 18 this requires linking the bodies that were received in the Iraqi constitution as an independent, an Iraqi cabinet minister, at the request of the Office of the Prime Minister, who was lifted last December to the same court.

Saleh said "since 2003, could the central bank provides the umbrella secure $ 50 billion to meet its needs in the capital of the local presence and international levels", he stressed that "the danger lies in the expiration of international protection in the June 30 next to Iraq, we must thought to protect the assets of Iraqi funds under the umbrella of the Central Bank of Iraq is not."

And Saleh stressed that "the central bank money is not money the federal government but is a cover of the national currency, the dinar and the cover of criticism of the Iraqi people," adding that "if the opposite had happened according to the latter's decision became the central bank money government then would be to risk Pthail creditors that money to say the least."

And Article (103) First: Each of the Central Bank of Iraq, and the Office of Financial Supervision, and the media and communications, Endowment, bodies, financially and administratively independent, and the law regulates the work of each of them.
Second: The Central Bank of Iraq responsible before the Council of Representatives and the Office of Financial Supervision Authority Media and Communications House of Representatives.

Criticized for "Dealing with the Central Bank and the rest of the independent bodies that need to be a new government program for the coming years in line with the programs of those bodies, which gives the impression that the confiscation of the objectives of the Central Bank as an independent body and undermine the goals of other independent institutions," as he put it.

The text of the Iraqi constitution, passed in 2005 that the central bank is accountable to the House of Representatives only, the fact that the goals to be achieved is to build a stable financial system, reduce prices and fight inflation as well as the creation of stable conditions serve the financial security, and in the case of abuse, he is liable to account strictly before the House of Representatives.

And warns many parts of the loss of Bank independence and subjected to political calculations like the rest of independent bodies covered by the latest court decision, but that the court decisions are conclusive and the necessity and can not be contested that the Constitution set out some of the bodies it is time to be attached to one of those.

In the opinion of several quarters, said the move reflected the desire of the Prime Minister to take control of the apparatus independent of, without paying attention to downside risks for the acquisition of greater power, at the time opposed to lists of political in which the most prominent of the Iraqi List and the Kurdistan Alliance, the idea of linking independent bodies the Council of Ministers of Iraq and prepared by the excess of the National Alliance on the Iraqi constitution being issued with the strong support of the latter.

And anticipate the Supreme Judicial Council Votes objectors to the Federal Court decision that committed all the political blocs to the decisions of that court is not permissible to object to any of them.

http://www.aknews.com/ar/aknews/2/214399/

Central: The Iraqi government can fill the deficit by borrowing from their deposits in government banks

The Central Bank of Iraq adviser, on Sunday, the Iraqi government can fill the deficit in the budget in 2011 by borrowing from their deposits in government banks.

The Iraqi government has approved the draft federal budget law for fiscal year 2011, so that the budget amounting to about 79.6 billion dollars, so when calculating the oil per barrel to U.S. $ 73, and the rate of export of 2.25 million barrels per day.

He said the appearance of Mohammed Saleh, a Kurdish news agency (Rn) that "the Iraqi Central Bank granted the right of the Iraqi government to borrow $ 10 trillion Iraqi dinars from their deposits in government banks available through the Ministry of Finance."

Saleh added that "the value of deposits for government departments and public sector banks in the $ 32 trillion dollars, but are scattered among the banks because of the difficulty of coordination."

Saleh pointed out that "the process of government loans from deposits in banks will address fully the subject of the financial deficit facing budget in 2011."

He continued by saying that "borrowing from banks will balance between monetary policy, and between the fiscal policy of the country and Aidjal any conflict between them during the next stage."

Prime Minister Nuri al-Maliki has warned of a fiscal deficit confuse the completion of projects for 2011 in case the central bank did not fill the deficit in the general budget of the country by oil reserves. In the view of the central bank lending to the government plan would disrupt cash reserves during the next phase. It is hoped that you read the second reading of the budget session in the Iraqi Council of Representatives on Tuesday. It is expected that the budget deficit to reach about $ 12 billion, in what is expected that the rate of spending about 54.7 billion dollars.

Iraq relies He is a member of the Organization of Petroleum Exporting Countries on oil revenues to finance about 95 percent of its annual budget.

"In the view of many economists that the budget was delayed more than the current time would disrupt the process of construction, age and will be followed the movement of government and ministries."

And witness the preparation of budgets, the country's financial and approval delays by the government and the House of Representatives because of the large number of objections and criticisms on some of its paragraphs highlighted aspects of exchange and the financial allocations for some government institutions and the three presidencies.

And announced that the advisers in the Iraqi prime minister that the government decided to raise the investment ratio in the slot in the current year budget to 30% at the expense of the operational aspect in order to support investment projects. The Central Bank of Iraq that the 2011 budget will raise economic growth to 10% of what it was, noting it was built according to the country's economic policy.

http://www.aknews.com/ar/aknews/2/214508/

Governor of Baghdad: Central Bank of the new building will catch up with the European Bank

The governor of Baghdad, Salah Abdul-Razzaq, during a meeting, Sunday, Governor of the Central Bank of the building of the Central Bank of Iraq in the new building will catch Jadiriyah Bank EU, said in a statement his office.

The statement said that the governor of Baghdad, Salah Abdul-Razzaq received today (Sunday) at his office in Baghdad's central bank governor Sinan al-Shabibi, was discuss the construction of new building of the Central Bank of Iraq in Jadriya.

The statement quoted the governor of Baghdad, as saying that during the meeting view the architectural plans for building the bank to be implemented in Jadriya and developed architectural Iraqi World Zaha Hadid, which consists of 37 floors and period of completion of up to nearly 3 years at a cost ranging from $ 500 million. Abdul Razak added that the building of the Central Bank of the new bank building will catch up with EU, pointing out that the design of the building is inspired by the cultural heritage of Iraq and fit the climate and atmosphere in Iraq.

http://radionawa.com/Ar/NewsDetailN....275&LinkID=155

An international report puts Iraq ranked fourth in terms of untapped oil reservoirs in the world

Report of the global economic situation in Iraq ranked fourth in terms of the ideal places to find the undiscovered oil deposits after.

The report predicted that includes the Majnoon field in southern Iraq (one of the largest untapped fields in Iraq), between 45 and 100 billion barrels.

The report identified six areas in the world, said it may be the only ones in the world that are still fields where the oil can be discovered and exploited a rewarding financial returns, putting Mexico on top of those areas, followed by Venezuela and Brazil.

And Iraq came in fourth place among the biggest untapped oil reservoirs in the world, ahead of Kazakhstan and the African state of Ghana, who put them in a distant fifth and sixth respectively.

http://www.ipairaq.com/index.php?nam...onomy&id=34973

Deputy calls for amendments to the Investment Law

The MP said the National Alliance, Ihsan Al-Awadi said that the investment law approved by the House of Representatives did not contribute to attracting foreign investment into the Iraqi market, and called for amendments to the law to attract investors.

He criticized al-Awadi, in an interview with "Radio Sawa" contrary to the laws of material with each investment, which hampers the movement of investment in the country.

He added that Al-Awadi, political and security situation prevented the implementation of the investment companies in projects in Iraq.

The government program submitted by the prime minister Nuri al-Maliki suggested to activate and encourage investment and attract capital and foreign national to implement the projects needed by the country.

http://translate.googleusercontent.c...EKci-4EI1j_3Nw

Iraqi lawmaker: House of Representatives calls on the budget tomorrow Issawi, 2011

Iraqi lawmaker from the Iraqi coalition led by Iyad Allawi, on Sunday, The House of Representatives decided to call the Finance Minister Rafie al-Issawi on Monday to discuss the federal budget for 2011.

The MP said Ahmed al-Alwani told the Kurdish news agency (Rn) said, "decided to call the Minister of Finance of the House of Representatives to discuss the issue of the budget of the Federal Assembly in 2011 with the Finance Committee representative and received by the changes and new additions by the Presidency of the Council of Ministers".

The Iraqi government had earlier agreed on the draft federal budget law for the year 2011, so that the budget amounting to about 79.6 billion dollars.

He pointed out that al-Alwani, "will discuss the amendments and additions with the recent al-Issawi to two consecutive days, to find out the extent of changes that could occur after the prime minister in the amended budget on the basis of change in the price per barrel of oil from $ 73 to 76.5 per barrel."

And witness the preparation of the financial budget of the country and a delay of approval by the government and the House of Representatives because of the many objections and criticism of certain paragraphs highlighted aspects of exchange and the financial allocations for some government institutions and the three presidencies.

He pointed out that al-Alwani, "the new material you need to read another review, as well as materials that are not read."

"It will be finished after the second reading of the amendment, addition, and after discussion and approval by the members of the House of Representatives."

It is expected that the budget deficit to reach about $ 12 billion, in what is expected that the rate of spending about 54.7 billion dollars.

Iraq relies He is a member of the Organization of Petroleum Exporting Countries on oil revenues to finance about 95 percent of its annual budget.

The Government of the Kurdistan region of Iraq to impose expenses of the sovereign on the financial allocations from the general budget of the country so as to reduce the amounts imposed in the event of about $ 14 billion to 11 billion, while the share of the territory of Iraq's budget 17 percent.

And calls for halving the proportion of the Kurdistan region to export oil from the fields to 100 thousand barrels instead of 150 thousand barrels per day set by the federal government previously as a condition to maintain a ratio of 17% of the Kurdistan region in the general budget.

He ruled out a coalition MP Mohsen al-Sadoun Kurdish blocs on Wednesday that the House of Representatives could approve the financial budget of the country during this week due to the existence of "legal and technical problems" not solved by politicians.

http://www.aknews.com/ar/aknews/2/214528/

Kuwait's debts on Iraq reach US$21 billions (b), newspaper reports:

Kuwait's remaining debts on Iraq have reached US$21 billions (b), after the payment of US$680 millions to Kuwait by the UN Fund for 2nd Gulf War Compensations, Kuwait's al-Qabas Newspaper reported on Saturday.

"The UN Fund For 2nd Gulf War Compensations has agreed to pay US$680 millions for nine Kuwaiti bodies, harmed by the 2nd Gulf War," the newspaper pointed out, adding that the "the total compensations to be paid to individuals, government institutions and international organizations, shall reach about US$31.4 billions (b), including the remaining compensations for Kuwait, estimated at US$21 billions (b)."

Most cmpensations are financed by the Iraqi oil revenues, according to the UN Oil-for-Food Program that ended in 2003, whilst the allocation of the funds continued from Iraqi oil revenues, according to the UN Security Council resolutions, to compensate Kuwaitis harmed by Iraq's occupation of Kuwait in 1990

U.S.
Vice-President, Joseph Biden, had told UN Security Council's session on 15/12/2010 that the Council had decided to abolish the penalties issued against Iraq after its occupation of Kuwait in 1990, whilst Iraq's Foreign Minister, Hoshiar Zibary, told the session that Iraq "still has a long way to settle its pending problems with Kuwait."

http://en.aswataliraq.info/Default1....&id=140752&l=1

Iraqi Drilling Company: We will raise production to over two hundred thousand barrels per day during the current year

The director of the Iraqi Drilling Company of the Ministry of the Federal Oil, Saturday, said the company is working to raise output this year to more than about two hundred thousand barrels per day during 2011, especially in light of availability of sufficient energy to accomplish it.

Said Idriss Yasiri told the Kurdish news agency (Rn) announced today that "the company is working on making development plan for the effort the national drill 76 wells in 2011," noting that "the field of Nasiriyah will take the lion's share of the work of the Iraqi Drilling Company Vttaiwirh requires running three or four rigs which Sindzamlip drilling of more than 15 wells in 2011 ranged from output 50-60 thousand barrels per day during 2011."

He said the "wells will include fields Artawi, Allhis, Nasiriyah, Maysan, Brick, baker, Bai Hassan, AGIL, Hamrin, east of Baghdad, oil check."

He explained that "the Iraqi Drilling Company will intensify its work in the field east of Baghdad, where 6 wells will be drilled in a field east of Baghdad for the Central Oil Company, and 4 wells in oil field box and about 20 wells in the fields and Artawi Allhis and Touba in Basra."

He Yasiri that "Eni in the Zubair field will be drilled 23 wells and 20 wells for Exxon Mobil in West Qurna, and 15 wells in partnership with Nneberz and Halliburton in the Majnoon field and drilling operations for the companies licenses will add about 150 thousand barrels per day in 2011."

On the other tenders in the Iraqi Drilling Company said Yasiri "The last tender was for the West Qurna 2 field in the province of Basra, and signed with Lukoil" has Dmmnaha with two companies, one service and another that specializes in drilling wells, and will begin drilling 23 wells, but the decision was drilling 75 wells during 2011 and 2012. "

There are in the province of Basra (550 km south of the Iraqi capital of Baghdad) 15 fields, including 10 producing fields and 5 are still waiting for development, notably the North Rumaila and Majnoon and Nahr Umar field and the West Qurna field.

These fields contain oil reserves estimated at more than 65 billion barrels, or about 59% of the total oil reserves of Iraq and an oil reserve in the provinces of Basra, Maysan and Dhi Qar together approximately eighty billion barrels, or 71% of Iraq's total reserves.

http://www.aknews.com/ar/aknews/2/214275/

Iraqi Embassy in Egypt planning to return its citizens back home:

The Iraqi Embassy in Egypt has announced on Sunday that it is planning to facilitate the return of Iraqi citizens from Egypt back home, through coordination with the Foreign and Immigration Ministries, according to a statement by the Embassy.

"We are in continuous contact with the Foreign, Immigration and Transport Ministries, to facilitate the return of Iraqis from Egypt to Iraq," the statement broadcast over al-Iraqiya TV Sattelite Station reported, quoting the Embassy as having demanded the Egyptian authorities to "achieve necessary protection for Iraqis in Egypt.

The Egyptian authorities have imposed a curfew in Cairo, Alexandria, Suez and other Egyptian cities, cut the communications inside Egypt and with the world at large, following huge demonstrations that took place since January 25th, demanding the "departure" from power of President Hosni Mubarak that rule Egypt for about 30 years, with agency reports that hundreds of people have been killed or injured, along with acts of plunder and burning.

http://en.aswataliraq.info/Default1....&id=140766&l=1

Southern Iraq's Maaqal Terminal receives largest number of ships since 30 years:

Southern Iraq's Maaqal Terminal in Basra Province has received the largest number of ships over the past 30 years, over the period from from 1980 to 2009, reflecting a great development in its activity," a Transport Ministry statement said, adding that the Terminal had received 288 commercial steamers last year, the largest number of ships in one year over the past 30 years.

"The reason for such large number of ships, that was received by Maaqal Terminal in 2010, is due to the projects built as part of the reconstruction works and the rehabilitation of the Terminal, as well as the opening of al-Tannouma Bridge on Shatt al-Arab Wateray, the statement pointed out.

The statement added that the end of last year had witnessed an unprecidented movement to receive ships of different sizes and loads, belonging to different nationalities, along with the exportation of huge quantities of Iraqi palm dates, as Maaqal Terminal is known for the strength of its developed docks, large number of its port appliances and stores, along with its strategic position.

http://en.aswataliraq.info/Default1....&id=140763&l=1