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

Iraq economic growth rate expected reach 47% by 2014

The Iraqi Planning ministry stated on Saturday that the rate of economic growth will reach according to the strategic plan of the ministry to 47% by 2014.

Abdul Zahra al-hindawi, the spokesman of the ministry told AKnews that the annual economic growth rate reach to 9.38%, and the improvement will have a positive impact on the economic situation in the country and the level of general income of the Iraqi people.

"The value of the implementation of strategic projects is estimated by $ 186 billion, and the allocations of the public budget should be $ 100 billion, while the remaining $ 86 billion will be spent on local and foreign investment projects."

"Iraq is heading towards economic stability after the security situation improved relatively in many Iraqi provinces."

The International Monetary Fund stated earlier that the economic growth in Iraq was slower than expected during 2010 in the economic review of the fund, because the expected growth in oil production was not achieved.

The Iraqi Central Bank (ICB) described earlier the rates of economic growth in 2010 as "shameful" compared with past years.

The ICB revealed last October that the 2011 budget will raise the economic growth by 10%.

http://www.zawya.com/Story.cfm/sidZA...25%20By%202014

Compensation fund pays USD 680 mln to victims of Iraqi invasion of Kuwait

The Geneva-based UN Commission that settles damage claims in connection to Iraq's 1990 invasion of Kuwait made USD 680 million available to nine successful claimants, it was announced here in a statement Thursday.

This latest round of payments brings the total amount of compensation disbursed by the Compensation Commission (UNCC) to individuals, corporations, governments, and international organizations to nearly USD 31.4 billion, leaving an outstanding balance of some USD 21 billion that remains owing to Kuwait, according to the statement.

The vast majority of funds for compensation payments have come from the sale of Iraqi petroleum under the so-called Oil-for-Food Program, which came to an end in 2003, and later within the scope of arrangements made under Security Council resolutions.

http://www.zawya.com/Story.cfm/sidZA...%20of%20Kuwait

Communications Commission warns mobile phone companies of the continuing poor quality of services

Warned the media and communications mobile phone companies operating in Iraq to take the legal procedures stipulated in the contracts signed with them in the event of continuing poor quality of services provided by it, according to the technical reports of the Commission, charged with breaches of the existence of these companies in their contracts affected the coverage of the retina.

The Chairman of the Board of Trustees in Communications and Media Authority Safa al-Din spring in an interview for "Alsumaria News", Saturday, that the first irregularities mobile phone companies poor service provided by it to the citizens, noting that the Commission tried to address it in a professional manner but that the companies Mobile did not respond.

http://radionawa.com/Ar/NewsDetailN....163&LinkID=155

Transport is seeking to invest in the presidential yacht and the restoration of Iraqi vessels abroad

Announced that the General Company for Maritime Transport of the Ministry of Transport plans to pour yacht presidential through the study of art and developed for this purpose, revealing a quest to restore all the ships in the Iraqi abroad, including Bachrti Balqees in Libya and Zahra in Germany.

The general director of the General Company for Maritime Transport Esmat Amer said that the Ministry of Transport has developed a plan to invest yacht presidential will start soon, adding that the investment will be the service hub of the benefit of the Iraqi citizen of the yacht as a transfer, or a financial return, he said, adding that the ministry has developed a technical study for the investment Yacht, by organizing trips to the citizens in the Persian Gulf, and flights for VIPs, or use it in new routes in the Gulf.

http://radionawa.com/Ar/NewsDetailN....227&LinkID=155

Central Bank: the real risks of waiting for Iraqi funds internationally

Adviser warned the Iraqi Central Bank of the 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 takeover by the application of the resolution.

He said the appearance of Mohammed Saleh (AKnews) 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 the UN Security Council Resolution No. 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 June 30 on Iraq, but we must think in protecting 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 in favor of "Dealing with the Central Bank and other independent bodies that need to be a government program, the new compatible for the coming years with programs of those bodies, which gave the impression 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 to create stable conditions to serve the financial security, and in case of abuse, he is liable to account strictly before the House of Representatives.

http://almowatennews.com/news.php?action=view&id=15045

Oil Expert calls for proper utilization of financial accumulations of high oil prices

expert called on the oil Halim Kazim to the proper utilization of financial accumulation by Atvaa oil prices.

Kazim said in a statement (of the Agency news) on Sunday: that the productive capacity of oil if improved, would contribute to solving the problem of budget deficit, whether the oil price to remain stable or high.

Kazim added: The financial accumulations of high oil prices should be used properly to improve productivity.

He said Kazem that the oil sector is suffering a lot of problems related to infrastructure and the level of development fields, and the lack of clarity of oil policy in Iraq is due to the overall political atmosphere, who beat him (rigor), which led to the lack of increase in the level of oil production. Has suffered oil fields, a giant fields, and for the more than 20 years of neglect, which is unchanged if the organism (aging) and need to (re-youth) through the exploration and modernization of extraction.

He Kazem: that Iraq is currently producing (2) million barrels per day but could result in (4) million barrels under (quota OPEC) share of export capacity in the organization, but in light of the reality of the current production, we can not increase it. We hope that the licensing agreements Aljdidpmoqap to pay production figures to the highest curve.

He also called for opening the door to investment under the control of real and tough to eliminate the administrative and financial corruption, and find a viable plan for an oil policy is clear in Iraq be based on scientific plans, and support the national effort to develop the fields, and support the National Drilling Company as a vital artery and assistant principal for companies Alstiratejip, and work on encourage national cadres to increase production through the material and moral support.

http://www.ikhnews.com/news_view_7708.html

Shirwan Waili reveals a tendency to borrow from the Central Bank or the IMF to cover budget deficit

MP for the coalition of state law Shirwan Waeli said failure to approve the federal budget for 2011 due to a lot of the deficit in expenditure and resources of the Iraqi state.

Waili said that all existing resources in the budget does not cover the expenses the stomach or required by the Iraqi government, noting that there are some solutions that may determine the three options which I borrow from the central bank confirming the presence of some observations of reservations on this subject and the second borrowing from the International Monetary Fund to cover this disability.

He Waeli third option is to adjust the operating expenditures of the budget to match revenue in order to get rid of the shortfall in the budget.

http://www.nakhelnews.com/pages/news.php?nid=5447

Turkey halts electricity supplies to Iraq

Turkey has stopped the flow of electricity to Iraq, plunging the Iraqi Kurdish Province of Dahouk into darkness.

Under an agreement, which the government has refused to renew, Turkey used to export 150 megawatts to Dahouk. The government did not say why it refused to renew the deal, but an Electricity Ministry official said the government was trying to strike a new deal with other Turkish suppliers.

“The deal was signed on condition it should not be renewed. This what the Electricity Ministry had recommended for the government,” said the official, Musaid al-Mudaris.

Iraq imports electricity from neighboring states, namely Turkey, Iran and Syria. The power import bill costs the treasury hundreds of millions of dollars every year.

But despite the imports and billions of dollars in investments, electricity supplies are insufficient and major Iraqi cities go with power for nearly 20 hours a day.

http://www.azzaman.com/english/index...01-30\kurd.htm

Parliament Tuesday hosts a number of heads of independent bodies to discuss the decision linked to the premiership

A source in the Iraqi parliament on Sunday, the House of Representatives will host in its meeting held on Tuesday a number of heads of independent bodies, linking them to discuss the prime minister instead of the House of Representatives.

The source said in an interview with "Alsumaria News", "The Presidency of the Council of Representatives decided, at today's meeting, hosting a number of heads of independent bodies, at its twenty-seventh, to be held on Tuesday to discuss the issue of linking independent bodies of the Council of Ministers, rather than the House of Representatives" .

The source, who requested anonymity, that "most presidents who will be hosting them are the heads of the Integrity Commission and the Office of Rahim Ugaili elections Faraj al-Haidari and director of the Central Bank of Sinan Alcbyibi."

And saw the parliamentary session of the 26, which was held today, the vote on the formation of a commission of inquiry on the escape of prisoners from a prison in Basra province, the Council also decided to call the leaders of Baghdad, Diyala and the Middle Euphrates and Salah al-Din to the Security and Defense Committee within two weeks, in addition to the Diyala police chief, to inquire and provide a detailed report of the Council to determine the reasons for recurrence of security incidents, while the Council decided to host the Minister of Finance, Trading with the Committee of Finance on the adjustments made to the draft law on the federal budget for 2011 sent by the Government to the Council in preparation for the second reading to them.

The Federal Supreme Court issued a decision in January 18 of this attachment provides independent bodies referred to in the Iraqi constitution, prime minister directly, not under the chairmanship of the House of Representatives.

Has included a chapter IV of the Constitution of the Republic of Iraq for the year 2005, independent bodies within the articles (102-108) promised to the Constitution in Article (102) each of the High Commissioner for Human Rights, the Independent Higher Commission for Elections and the Integrity Commission, independent bodies operate under the control of the House of Representatives , and thus associated with these bodies the highest legislative authority in the Iraqi constitution, and is organizing its law issued by the Council of Representatives.

The earlier decision of the Federal Court of reactions by the political blocs in which he described the Kurdistan Alliance, on 20 this month, the Federal Court decision to "not successful", adding that it could dilute the independence of these bodies. It also considered the Iraqi List, in the words of spokesman Haidar al-Mulla that decision is a coup against the Constitution, a claim the presidency of the Council of Representatives and leaders of political blocs to take a firm stand to protect democracy in Iraq.

The Supreme Judicial Council on the lips of his spokesman, Abdul Sattar Bayraktar said in an interview for "Alsumaria News" last week, that "the decisions of the court is bound by all the authorities not subject to appeal any decision of its decisions or to resolve the court and re-appointment of other persons", pointing out that "Every point of consideration to any decision by the Federal Court from the perspective of partisan or personal interests."

http://www.alsumarianews.com/ar/1/16...-details-.html

Iraq: Allawi, al-Maliki will meet during the next 24 hours

The Iraqi List, on Sunday, for a meeting between its leader, Iyad Allawi, Prime Minister Nuri al-Maliki to discuss the candidates for the security ministries to complete the cabinet reshuffle, as well as the powers of the National Council to be formed during the next phase.

But differences still exist between the political blocs on the candidates to fill the bags, security and especially the interior and defense.

Although the parties agreed that the portfolio of the Ministry of Interior of the share of the National Alliance, and the defense share of the Iraqi List, except that each party to the other party's candidates rejected on grounds of neutrality and efficiency of candidates.

There was a prior agreement to hand over security bags to independents.

A spokesman for the Iraqi Shaker book, told the Kurdish news agency (Rn) that "the leader of the Iraqi List, Iyad Allawi would meet during the next 24 hours with Prime Minister Nuri al-Maliki to reach consensus on a unified vision for the formation of the National Council for policy strategy."

The book said that "there are things about the powers of the Council detailed the political focus of the meeting will be in addition to the issue of candidates for security ministries including the Ministry of Defense."

The book "The meeting will be important to resolve these issues awaiting resolution of the political blocs and voting in the Iraqi Council of Representatives."

It is hoped that Allawi and al-Maliki confers on the draft Law of the National Council of the Supreme policies, which he would head after the leader of the Iraqi List, introduced during the next phase following the agreement on the powers granted to him, which is still controversial.

http://www.aknews.com/ar/aknews/4/214625/