Thread: Iraqi/Dinar news until March 1st, 2007

Government Maliki raise fuel prices 15%
The news has been added on 2-23-2007, 15:43-54
Government Maliki raise fuel prices 15%

Baghdad, February 23 February / Reuters / - The Minister of Oil Iraqi Hussein Shahrastani that fuel prices for consumers Yen will increase by about 15% in March in March with the implementation of Iraq's agreement with the International Monetary Fund to reduce be reduced m.

And Iraq has the third largest oil reserves in the uncertain But the world wars, which lasted for decades and pw Cobat, lack of investment and now widespread violence on the widely and sabotage have left the country suffer from n snip in the fuel. Iraq was forced to import much of their needs from the fuel.

The government continues to control prices, which led to Azad Har black market for fuel for those not wishing to stand in the i Barakan and for long hours or sometimes days to provide cars refueling.

The Arab television channel Shahrastani in m Polls are today, Friday, that the price of gasoline will rise m n 350 dinars / about 27 cents / hour to 400 dinars. Er gasoline will rise from 300 dinars to 350 dinars b by mid-March.

And Iraq concluded a loan agreement with the International Monetary Fund in the d Essember December 2005 and the agreement of exchanging debt Afterward Math 41 billion dollars with private creditors.

ÇáÚÑÇÞ ááÌãíÚ :: æßÇáÉ ÇáÃÎÈÇÑ ÇáÚÑÇÞíÉ :: :: ÍßæãÉ ÇáãÇáßí ÊÑÝÚ ÃÓÚÇÑ ÇáæÞæÏ 15 Ýí ÇáãÇÆÉ

Cheney insisted forces to remain in Iraq and expresses Mkhao Fe from China
The news has been added on 2-23-2007 15:53

...Cheney insisted forces to remain in Iraq and expresses M. Khaovh from China

Sydney (Reuters) - The Vice-President Dick Cheney mother Ricky Friday on fears of military force struck developing China and also questioned whether the Chama Korea Why would ratify With committed in the nuclear agreement by a Baram it recently.
In a speech in the city of Sydney during his visit to Ast elaborating Cheney stressed the importance of the American forces in Iraq, in an appeal for reunification and summon Gau j saying that the United States and its allies should not j abandoned Iraq and other countries that he said had Toe fled a safe haven for terrorists.

Cheney warned that defeat in Iraq would lead to elate TR violence in the Middle East and said that "after a jihad n live through tasted victory in Iraq aspire to the very tasks handheld. many of them will go to Afghanistan to fight for Ja Enb Taliban and others will go to the capitals throughout Walsh slavery East. "
It was, in Cheney reception on his arrival in Australia on Thursday, anti war demonstrators clashed with Iraq police in the largest cities of Sydney, Australia.

He added, Cheney said, "the notion that free nations can T. Der back to what is happening in places such as Afghanistan or Ar pw or any safe haven to terrorists, another possible option is not j simply enabled us to indulge in it. "
Cheney said in his speech before the General dialogue leaders only Strali American "If our coalition withdrew before he could Iraqis to defend themselves in a Sttakatel factions the radical for hegemony over the country. "
A few days after the announcement that it would withdraw about Britain its fourth of the 7100 soldiers in Iraq praised Cheney commitment to Australian Prime Minister John Hawar Dr. military effort in Iraq is under an obligation the question is increasingly likely to turn to those who disturbed Yeh election.

Australia was among the first nations to commit itself Balmsh Arch war in Iraq and that it has 520 soldiers fighters Fhass b on the ground it was one of the strongest supporters of the war TNT led by the United States.

Cheney pointed out that Howard was in Washington when he signed e Jamat September 11 September 2001 on American cities and He added, "now that the United States has stood with Australia a battle in every important% in the past year, they T. Qvan together now crucial in the war on terrorism. "

The Iraq war has become a growing problem for the government of a Howard the one belonging to the governors, which crashed in popularity Ast Talaat public opinion before the elections scheduled for Here in the second half of the current year.
He wants about 67% of Australians to determine Hawa a timetable for withdrawal from Iraq or a withdrawal of troops the Australian immediately.
Cheney arrived in Australia after holding talks in the Japan with the Japanese Prime Minister Shenzhou Abe dominated p my question for the growth of military force escalating China's Wen mo regional influence.

In Sydney, the American vice president praised China for Ldo t, which played in the six-party talks that led to a mutually acceptable understanding, which North Korea agreed to dismantle Complex Ha nuclear main plutonium production for the most pressing the arrival of fuel oil.

But Cheney expressed concern about the growing military power t China, he said, "tests that targeted last month Start Lara China's industrial and rapidly building its strength in the military things are not constructive and consistent with the objective of China He declared (Advancement peaceful). "
.Cheney reiterated the view of the American President George W. Bush that only mutually acceptable understanding signed with North Korea is a step on the road to the seepage p disarmament, but raised questions whether Biongjian c abide by.

Cheney said "in the light of experience missile conducted Ha North Korea last July and experience Qala loya recorded in October and in the deployment of weapons and violation of human rights will be on the regime in Pyongyang to prove the many Nevertheless, this agreement represents the first step is p I hope in the direction of a better future for the people of North Korea e. "
Cheney's visit to Japan and then Australia is to reassure Halfa agents of the United States that President Bush's decision Lars the 21500 additional American troops to Iraq will contribute to the She was P violence.

Cheney did not have time during his visit to Japan to meet with the Minister Japanese Defense, which said that the Iraq war was a mistake for Be timely and expanded to meet the family of a girl who hijacked a Japanese needles presentations problem of the kidnapping of his clients to North Korea Moa Two Japanese decades ago.

It was 57% of the participants in the opinion poll n evil on Tuesday in the Asahi newspaper with the view of the Minister of Defense Japanese Fumio Keoma, who said last month that the President Bush missed the start of the Iraq war.

The police arrested some of Sydney on Thursday when he tried to 200 a member of (Stop the War Coalition), which calls upon the President Hello Australian ministers to withdraw Australian troops from Abra s march organized by the Municipality of Sydney to the Consulate American.

The demonstrators carried banners with slogans against the Vice-President only Merike and also to the Australian Prime Minister wrote to one Aha, "you go back to your country and you Kuchma John" also wrote to a brother Ri, "Stop Cheney and Withdraw your troops." And the police were forced to retreat and allowed the passage of demonstrator Yen and they lived until the American Consulate.

The Australian Prime Minister refused to follow the example of President Hello Ministers Tony Blair and announced a timetable for the withdrawal of forces from Iraq, but the determination that forced him to walk P j a minefield in a time when his party hinted Avz for contesting the elections later in the year.
And Howard said he would take the vicinity of Washington. He said : "America is experiencing a very difficult and whatever artifacts Zac you have, this is not a time when you Zhu Ercm them, but the time that you must at Mouazert are.
It is scheduled to meet with Cheney on Saturday and Howard leaving Australia on Sunday.

ÇáÚÑÇÞ ááÌãíÚ :: æßÇáÉ ÇáÃÎÈÇÑ ÇáÚÑÇÞíÉ :: :: ÊÔíäí íÊãÓß ÈÈÞÇÁ ÇáÞæÇÊ Ýí ÇáÚÑÇÞ æíÚÈÑ Úä ãÎÇæÝå ãä ÇáÕíä

Cabinet decides to stay Sunni strike
The news has been added on 2-23-2007 18:25

Cabinet decides to stay Sunni strike

Dar Gulf

Waqf Council decided in the Supreme Court stay Sunni Bal Iraq disrupt official business to its staff until further notice , in protest against the decision of Prime Minister Nuri al-Maliki b he said the Chief of Staff Ahmed Abdel Ghafour al-Samarra'i of the sapling.

The Council stated in a statement that it rejects the decision of the right to cast Lisse his dismissal from the post and that it was not justified, He pointed out that the impeachment was due to pause Samurai Bek told before the "flagrant violations of rape massage areas d killing imams and preachers, and the bloodshed of identity the violation symptoms. "
According to the statement, "It is not right to dismiss the Prime Minister alive Yassin Diwan stay only a presidential decree write to the presidency of a for the Republic. "

The statement issued today by the National Center for Media Walt I sold to the Iraqi Council of Ministers announced that the President appearance e Nouri Al-Maliki decided to exempt from the post - Samurai from Du n statement that gives any reasons for this decision.

ÇáÚÑÇÞ ááÌãíÚ :: æßÇáÉ ÇáÃÎÈÇÑ ÇáÚÑÇÞíÉ :: :: ÏíæÇä ÇáæÞÝ ÇáÓäí íÞÑÑ ÇáÅÖÑÇÈ

Status of Iraq hydrocarbon law in limbo
Posted on : Fri, 23 Feb 2007 03:27:01 GMT | Author : Energy News Editor
News Category : Energy (Environment)

New ( News Alerts by Email click here )


Reports are mixed on the state of Iraq's hydrocarbons law, with media reports it is advancing and analysts claiming it remains stuck on federalism arguments.

The New York Times reported Tuesday negotiators sent the law, vital to further development in the oil and natural gas sector (along with security), to the Iraqi Cabinet.


The hydrocarbons law would govern Iraq's oil and gas resources and dictate the amount and mechanism for sharing revenue with Iraqi people.

But it has been stuck in negotiations since last summer. At issue is whether the central or regional governments will have control over new contracts, what is the percentage for revenue sharing and what mechanism will redistribute that money.

The Kurdish Regional Government, which has been largely autonomous since 1991 and safer than the rest of Iraq since the U.S.-led invasion in 2003, claims the constitution passed in 2005 gives regions more control.

The central government says it should be the authority to approve contracts. That position is backed by Sunnis with little oil and the most of the majority Shiites that would dominate the government.

The Cabinet must approve the law before it heads to the Iraqi Parliament for a final vote.

But a well-connected analyst told UPI on condition of anonymity the Kurds and central government still have not agreed on the remaining crucial issues.

Iraq has 115 billion barrels of proven oil reserves and possibly unknown amounts more after more thorough exploration takes place.

But that exploration requires safer conditions than those currently in war-torn Iraq and an investment law that would outline criteria for contracts.

Status of Iraq hydrocarbon law in limbo

Prize of the Century
By A.K. Gupta
From the February 22, 2007 issue | Posted in International | Email this article
For almost four years, Western oil companies have waited at the altar for Iraq, eager to get their hands on its proven reserves of 115 billion barrels. Iraq has the third-largest reserves in the world behind Canada and Saudi Arabia, but this just scratches the sand. After almost 30 years of war and sanctions, large parts of Iraq remain little explored and there may be more than 200 billion barrels of undiscovered oil under its desert.

Despite its promise, Iraq has been unable to develop new production under the U.S. occupation and has instead seen exports plummet. To boost oil output, the Iraqi government has been wrangling over a new hydrocarbon law for almost a year. Until issues over regional control and revenue sharing are ironed out, the majors, as the big Western oil companies are known, are stuck on the sidelines.

The law, which may be unveiled in March after months of delays, has the Bush administration’s fingerprints all over it. It’s being sold as the best way for Iraq to increase its oil revenues, but, probably to no one’s surprise, it’s designed to benefit oil companies.

U.S. officials contend that the law “will be a model for cooperation in the country,” according to United Press International (UPI). But this is dubious. The law has been held up by Kurdish parties keen to annex the oil-rich city of Kirkuk in the north. The Kurdish Regional Government maintains that it must be allowed “to negotiate and sign new contracts within the region and to receive its fair share of Iraq’s oil revenue.”

If the Kurds get their way it would give them an economic basis for an independent state and possibly lead to the breakup of Iraq. Shia parties in the south, where oil reserves are even more abundant, are also looking to form a breakaway region.

A breakup of Iraq would lead to more warfare, legal disputes over the oil and possibly even a regional war that could prevent access for years. The Bush administration wants central government control over the oil so Western companies can get easy and undisputed access. Ironically, the White House’s greed is the one reason Iraq hasn’t disintegrated.

PROFIT BOOM

In January, The Independent (UK) reported that it had “obtained an early draft which was circulated to oil companies in July 2006.” The proposed law would be a bonanza for the majors. According to The Independent, “While the costs are being recovered, companies will be able to recoup 60 to 70 per cent of revenue; 40 per cent is more usual.” The majors could thus receive nearly twice as much revenue during the cost-recovery phase as normal. Iraq’s draft law also allows for a 20 percent profit rate once costs have been recouped, as opposed to a 10 percent norm for production sharing agreements (PSAs).

Iraqi oilfields currently in production would not be affected by a new law, but only 17 of 80 known fields, representing 40 billion barrels, are pumping oil. This leaves more than 70 billion barrels in known reserves that may be gifted to the majors, plus all the undiscovered fields.

The majors would gain control through PSAs, which grant generous terms to oil companies to develop new fields. Many analysts are critical of PSAs; one analyst with the International Energy Agency estimated only 12 percent of the world’s reserves are subject to such agreements.

Greg Muttitt, author of Crude Designs: The Rip-Off of Iraq’s Oil Wealth, notes that while PSAs are “quite common in countries with small oil reserves and/or high extraction costs… PSAs are not found in any other country comparable to Iraq.”

Countries with enormous reserves of oil, such as Saudi Arabia, Kuwait and Mexico, do not allow PSAs. In recent years, some of the few large oil producers with PSAs, like Russia and Venezuela, have moved away from them because of the unfavorable terms. The trend has been toward re-nationalization of oil, which the majors are fighting.

THE PRIZE

Getting access to Iraq’s oil would be the prize of the century for the majors — at least 10 percent of global reserves and perhaps as much as one quarter.

Before the U.S. invasion, some oil companies were licking their chops. In Feb. 2003, the Financial Times reported that the “unusually blunt” chairman of ConocoPhillips commented about Iraq, “We know where the best reserves are [and] we covet the opportunity to get those some day.”

The amount of profit depends on the specifics of Iraq’s oil law. Using “conservative assumptions,” Muttitt estimated in Crude Designs that Iraq could lose up to $194 billion over 30 years from just “12 of Iraq’s oilfields that have been listed as priorities for investment under production sharing agreements.”

These numbers were based on oil at $40 a barrel. With a barrel of oil averaging more than $60 in the past year, this could mean more than $300 billion in profits for the majors from the 12 Iraqi oilfields alone.

LONG-TIME PLOTTING

In 2004, former U.S. Treasury Secretary Paul O’Neill revealed to 60 Minutes that barely ten days after Bush was inaugurated, invading and occupying Iraq was the top item in White House and National Security Council meetings. “From the very first instance, it was about Iraq. It was about what we can do to change this regime,” O’Neill claimed.

Weeks later, in February 2001, Dick Cheney’s Energy Task Force began meeting with Exxon Mobil, BP, Conoco, Shell and other majors. The task force was supposedly drawing up a national energy policy, but at the time, Cheney was poring over a map of “Iraqi oilfields, pipelines, refineries and terminals” and charts detailing “foreign suitors” for Iraq’s abundant oil and gas reserves. It’s not known what was being discussed by the task force and the oil companies, but it probably wasn’t solar power.

Little came of this until Sept. 11. Then the Bush administration swung into action almost overnight. On Sept. 13, Donald Rumsfeld ordered Army planners “to sketch a plan to seize and hold Iraq’s southern oilfields,” according to New York Times reporter Michael Gordon and Gen. Bernard E. Trainor, authors of Cobra II: The Inside Story of the Invasion and Occupation of Iraq.

Then in April 2003, the Future of Iraq Project, set up by the Bush administration to plan for the occupation, finished a report recommending privatizing Iraq’s national oil industry. It also suggested issuing “vouchers to all Iraqi citizens” and proposed PSAs as the cure-all for Iraq’s limited oil production, social ills and revenue shortfalls.

Gaining access to oil has been slowed by the lack of a legal framework. Once a permanent Iraqi government was seated in June 2006, a new oil law was the White House’s top priority. Bush visited Iraq days after the new government took power. According to a June 15 report from Platt’s Oilgram News, “Bush said energy in Iraq was a central topic of discussions during his meeting earlier this week with Iraqi Prime Minister Nuri Kamal al- Maliki.” Bush also announced that he was dispatching Secretary of Energy Samuel Bodman to Iraq. Bodman said “he would bring technical experts from the Department of Energy to help the Iraqis develop” a new hydrocarbon law.

The following month Bodman delivered a message to Iraq’s oil minister “from senior U.S. oil executives.” The newsletter Inside Energy reported the message was “We are interested. … There are a lot of reserves there, but we cannot think about investing.” Bodman added that the executives told him they wanted “a more secure environment and the establishment of a hydrocarbon law. Both are required. Both are necessary.”

Also involved in drafting a new oil law is BearingPoint, Inc., a Virginia-based firm that received a $240 million U.S. contract for Iraq to develop “a competitive private sector.” UPI reported on Dec. 28, 2006, that BearingPoint had been “contracted by the United States” to negotiate “a federal oil law.”

According to Muttitt, the Iraqi oil legislation has been made available to outside groups, but not the Iraqi public. Muttitt told The Independent, “The draft went to the U.S. government and major oil companies in July, and to the International Monetary Fund (IMF) in September. [In December] I met a group of 20 Iraqi MPs in Jordan, and I asked them how many had seen the legislation. Only one had.”

The struggle over Iraq’s oil is about who it is for. For the Bush administration, the oil should serve as a profit stream for Western capital. It appears that many in the Iraqi government, who stay in power only with U.S. force behind them, agree. But like the grand plans to privatize Iraq’s economy four years ago, it may remain a pipedream. The armed resistance has shown that chaos is the only constant, and it will be a long time before anyone gets their hands on Iraq’s oil.

* * *

As The Indypendent goes to press, a new version of the Iraq oil law was published on the web by Iraqi bloggers. It appears even more favorable to the major oil companies than previous reports indicated. The public version is nearly 30 pages and doesn’t yet include key appendixes that outline the specifics of Iraq’s oilfields and reserves and who will control them.

For more analysis by A.K. Gupta see indypendent.org

How Much Blood for Oil?

115 billion barrels of oil reserves in Iraq 42 gallons per barrel = 4.83 trillion gallons of oil

770 Civilian contractors 3,140 American troops 256 International troops 93 International journalists 37 Media support workers 900,000 Iraqis* = 904,296 total deaths

1 gallon of blood per body = 904,296 total gallons of blood

Oil price February 2007 = $59 x 115 billion barrels in Iraq = 6.785 trillion dollars in oil Divided by total number of war fatalities

= $7,503,074.21 in oil wealth gained for each gallon of blood lost
The Indypendent : Prize of the Century

Scramble for Iraq's oil begins as troops start to pull out
By: Saeed Shah on: 23.02.2007 [10:24 ] (88 reads)

(7214 bytes) [c]

Scramble for Iraq's oil begins as troops start to pull out
By Saeed Shah
Published: 23 February 2007


We are about to find out if the invasion of Iraq really was a war for oil. The country is on the verge of passing a petroleum law, which will set down rules for investing in its oil industry. That will set off a race among the foreign oil giants, scrambling for their slice of Iraq's vast oil riches. Britain's two world-leading oil companies, BP and Shell, both say they want to enter Iraq. Exxon, ConocoPhillips, Total, Russia's Lukoil and the Chinese will also form part of the rush.

Even while the security situation in Iraq remains dire, it seems the prize will be just too great for the oil majors to resist. The country has proven reserves of 115 billion barrels of oil, around the same as Iran, but it is thought that its actual reserves could be anywhere up to 300 billion barrels - which would make it bigger than Saudi Arabia. Much of the west of Iraq remains unexplored.

John Teeling, chairman of Petrel Resources, the explorer listed on London's AIM market which has had interests in Iraq since 1997, says: "Iraq has 70 discovered, undeveloped fields. You'd die for any one of them. Even the small ones have a billion barrels. If this isn't the holy grail, it's right next door to it."

It is hard to exaggerate the scale of the opportunity in Iraq, especially given the fact that foreign companies are, essentially, shut out of the rest of the Middle East and Russia is increasingly hostile to international players.

"It costs $1 a barrel to get oil out in Iraq. If you're getting $60 for it, that's good economics. You don't have to go to Harvard to figure that out," Mr Teeling says.

War-torn Iraq is currently producing less than 2 million barrels a day, well down on the 2.8 million barrels before the 2003 invasion by the US and Britain.

Tariq Shafiq, a former executive in the Iraq National Oil company and one of the experts called in to draft the country's petroleum law, says Iraq could "very easily" get to 3.5 million barrels a day. He says it is "physically" capable of producing 10 million barrels a day - around the current output levels of Saudi Arabia, the pre-eminent producer today.

Mr Shafiq, who now works for the consultants Petrolog & Associates, says that foreign involvement in Iraq's oil industry is needed for its technical knowledge, not capital - given the high price of oil, investment is pretty much self-financing. "Iraq has been left behind," he says.

The former president Saddam Hussein cut Iraq off from foreign oil technology, first by pursuing the war with Iran in the 1980s, then the international sanctions of the 1990s. Advanced oil recovery techniques, such as water injection, passed the country by.

The petroleum law, which is now in its third draft and is expected to go before the Iraqi parliament soon, allows wide-ranging and deep involvement in the sector. It envisages three type of international contract - buy-backs, production-sharing agreements (PSAs) and service contracts.

The PSAs are the deals most favoured by big oil, as they allow the foreign company to book the reserves. Buy-back contracts typically require upfront investment from the international company, with a guaranteed rate of return to repay the money.

Mr Shafiq says that the draft law does not specify a figure for the permitted rate of return, it talks of a "fair" return. This he interprets as being no more than 20 per cent.

The law awards much power to the regions for negotiating contracts, with the central government given an oversight role, a feature that did not exist in the Mr Shafiq's original draft and one that he believes will play into the fracturing of Iraq. However, the oil revenues will be shared between the provinces, according to their populations, not their oil resources - that gives the oil-poor Sunni areas a big stake in the success of the industry.

While the oil industry's majors and super-majors are not currently in Iraq, the minnows such as Petrel and the Norwegian group DNO, which is actually producing oil in the relatively safe Kurdish north, have shown that it is possible to operate in the country.

The lack of a law setting out the rules for the oil industry and the extreme security problems have kept the big operators formally away. But they have been active behind the scenes and, once the petroleum law is enacted, it is expected that all of them will rush to the Iraq oil ministry's negotiating table.

Shell and BP, for instance, have obtained precious knowledge of two of Iraq's biggest oilfields by providing free assistance. These projects do not involve having company personnel on the ground in Iraq. BP has studied the reservoir data from the Rumaila field in the south, to advise on how to maximise future production.

BP says: "Once the security situation permits, and the Iraqis seek assistance, we would consider opportunities there, as we would elsewhere in the world."

Shell is currently undertaking a reservoir study of the Kirkuk field, in the north, "in order to assist the Ministry of Oil to enhance production from this field".

Shell is more forthright. It says: "Shell has a very long history of working in Iraq. We would welcome the opportunity to help Iraq re-build its energy industry, but we will only enter the country once security, living and working conditions are improved. We have had discussions with Iraqi officials from the Ministry of Oil from outside the country, in order to better understand the complex situation in Iraq. We have experience with the technical and operational challenges that Iraq will face in future. This is based on our experience with similar situations in the Middle East. We aspire to establish a long-term presence in Iraq and a long-term relationship with the Iraqis, including the newly elected Government."

The Western oil majors will almost certainly have to wait until the security situation in Iraq improves before they are prepared to put their people on the ground. However, they are likely to tie up the Ministry of Oil in negotiations over projects until that happens - assuming that Iraq does not simply dissolve into all-out civil war. And, as the south and the north of the country, where most of the oil lies, are relatively less violent, it may be possible to operate in the country even while the central region around Baghdad continues to be a bloodbath.

The Russians and Chinese are almost certain to send their people in, no matter what the risks. Here the US group ConocoPhillips has pulled off a clever arrangement. Lukoil negotiated with the regime of Saddam Hussein for rights to the giant undeveloped West Qurna field. ConocoPhillips has taken a 20 per cent equity stake in Lukoil - a deal approved by the Kremlin - and it has apparently negotiated a 50 per cent share in Lukoil's West Qurna interest. So the Russian personnel would take the risks but Americans would still benefit.

Iraq's oil wealth is just too great for the majors to miss. The question is not if they will go in, but when.
Independent Online Edition > Business Analysis & Features

Scramble for Iraq's oil begins as troops start to pull out

Iraqi private banks prefer to retain the dollar Ha on the sale at a low price


بغداد _ الملف برسBaghdad-file Press
لم يشهد الطلب على شراء الدولار في افتتاح جلسات ا لأسبوع الحالي في مزاد البنك المركزي اليوم الأحد أرتفاعاً في الطلب، بعد فترة يومين من التعامل مع البنك المركزي في عطل يه الأسبوعية، بل كان الطلب منخفضاً حيث سجل 43 مليونا و240 ألف د ولار مقارنة مع 70 مليونا و165 ألف دولار يوم الخمي س الماضي.Not seen demand for dollar in the opening of a for the current week in an auction today, Sunday, the Central Bank a rise in demand, after two days of dealing with the Central Bank in Feeding Yeh weekly, but demand was low as it recorded 43 million and 240 thousand d Laar, compared with 70 million and 165 thousand dollars on Khami o past.
وذكرت النشرة اليومية التي يصدرها البنك المركزي أن الطلب توزع بواقع 12 مليونا و340 ألف دولار نقدا و 30 مليونا و900 ألف دولار على شكل حوالات خارج الق طر، قام البنك بتغطيتها بالكامل بسعر صرف بلغ 1285 دين ار.The daily bulletin issued by the Central Bank The demand distributed at 12 million and 340 thousand dollars in cash and 30 million and 900 thousand dollars in the form of remittances outside the cascade. Taurus Mountains in Turkey, the Bank has full coverage at the exchange rate in 1285 amounted to religion TR.
Recorded bulletin that none of the 12 banks referred Qi did not come forward with offers to sell the dollar at the auction, and is the index means that the banking institution, the civil Ara conservative him on the lifting of the exchange rate of the dinar against parents R..
.He said a number of dealers with the bank that the reason for a decline in demand for gas Laar due to the decline in the number of banks participating in the auction and, in addition to stop a lot of business dealings with the neighboring countries of South and East Asia, because of the concern that prevails between the result of operations the recent bloody hand, and preference awaiting the outcome of the Baghdad security plan on brother Ri.

Translated version of http://www.almalafpress.net/xxview.php?id=6595

Voices of Iraq: Baghdad-U.S.
Posted by: nakr2004 on Friday, February 23, 2007 - 03:20 PM

Baghdad-U.S.
Iraq's trade minister, U.S. official take up economic relations
Baghdad, Feb 23, (VOI) – Iraqi Trade Minister Abdul-Falah al-Sudani and the U.S. Undersecretary for International Trade of the Department of Commerce Frank L. Lavin discussed means to further economic cooperation relations as an important means of ending violence and unemployment in Iraq.
The meeting took place in Arbil, the capital of the Iraqi Kurdistan region, on the sidelines of the Iraqi-U.S. businessmen's dialogue meetings.
"Iraq is in possession immense economic potentials that would enable it to return to the arena of global economy and restore its relations with the outside world," according to an Iraqi cabinet's statement received by the independent news agency Voices of Iraq (VOI) on Friday.
The statement quoted Sudani as saying "there is a new government policy that would allow the Iraqi economy to open to the free market and offer investment opportunities to corporations all over the globe."
Lavin expressed the U.S. government's wish to "up the volume of trade and economic exchange with Iraq and the U.S. companies' contribution to the investment in the areas enjoying security."
Lavin said "Iraq would need to build 5,000 housing units, develop a modern system of registering lands, settle disputes that have to do with intellectual property rights, draw up construction systems and enhance safety."
The statement referred to "Iraq's need to refresh companies for the sake of increasing jobs, bolstering principles of accountability and transparency, training managers to modern trade and accounting practices and strengthening partnership between the public and private sectors through joint-stock companies."

22 / 09 / 2006
Barham Salih in Washington Post : in terms of Iraq draws hope
By Barham Saleh (Iraqi Deputy Prime Minister)
*The Washington Post newspaper
Translation-Sabah

Through the experience of my visit to the Olaya T. Nations easier to understand how Americans feel Bal sadness and disappointment what they see from the scenes of violence in Abra s. As for the leaders of Iraq, the violence source of frustration uncle forth them. The speed with which we go to what we want to accomplish as measured by the j what we aspire to are not commensurate with the people of Iraq deserve j us and the people of the United States Quran.
Therefore, we must change the dynamic of violence. The Iraqi government took to analyze research bc warm response in the form of strategy on two fronts : national and international.
We feel the need to speed up the pressure, But we will not succumb to fear. While it is important for us to highlight the progress pressed ???, especially when we take into account the tone of pessimism tensile hands, which was suffused by the dialogue in Washington. we know that it is inevitable for us to face many challenges and seriously. The problem of security problems, and sectarian polarization, corruption, The government's inability to provide services threat T. exposed the transition process, They may be fatal if not dealt with in the speed.
We Iraqis know that the solution to our problems will not be However, in our hands, and that foreigners would not be able to save us. The Iraqi leadership to address the responsibility, and to deal with these challenges in order to reverse the wave , and this will play only the Iraqis but will undoubtedly Konon need the continued support of the States j particularly from the United States. Infrastructure which it is based is essential e side of our national-and the goal of the the national unity and reconciliation - is the federal Aldemegra herewith, political partnership and the presence of a rational oil policy e and fair. In order to achieve these things build a National Security Council for political, consisting of important elected officials, schedule legislative attendance. This agenda was crucial in terms of their importance : as it is the political part of the move towards ending the violence.

We have inflicted on ourselves a timetable cruel because we owe it to our people to continue to pressure more and more and Ntekd m to the front, whatever the severity of the attack by us terrorists.
This month, for example, we have to validate the investment law and laying the foundation for the parliamentary its review of the Constitution. In the next month the Parliament to vote on the legislation for reform of the Ba `ath party, In the month of December should ratify the legislation on the a weapon from the hands of gunmen
Former disbanded and then re-attach them.
All of these laws will bring us closer to achieving the balance o Jasih be implemented within Iraq.

And where Iraq is a country with diverse, we need to Moi weight protect diversity and encourage the establishment of a national federation e democratic voluntary.
This is something which would benefit the entire region. Iraq has been since the establishment of their modern country Mfteka OL political balance to the complex. Power was concentrated in a few hands while withheld from a for many riches of their country. The creation of the liberation of Iraq in 2003, For an interim period, a new disturbance in the balance, but even that turmoil was democratically basis. What between day and night acquired Kurds and the Shiites right Altso not% abstained, while many, many other Sunni Arabs on a to participate in the new political process.

We must defend the diversity, Those responsible for acts of violence, belonging to the axis of the Baath and the alleged terrorists from a the Jihad, they hate democracy and diversity Ervaddounhma. All the suits and is seeking Altsid and the establishment of a state j ruling clerics extremists.

However, there is another force to initiate national cohesion to remedy the imbalance resulting from the adoption of the principle is it majority. This matter does not concern only Iraq but the region as a whole, because those who represent the majority in this part of a for a country that represents only a minority in other parts. In order to prevent the tyranny of the majority develop Abra s a bill of rights still need the support of political pragmatism.
Balance is a sensitive and critical, without which has integral part of Iraq. Through the draft national reconciliation, , who explained the aspects of the Prime Minister Nuri owner j, we must strive to achieve a balance in the issue of eradication of Elbe moth. We achieve a balance between the requirements for justice for the victims pw Or Saddam Hussein and required rehabilitation process Elsie Lacey those mistakes did not breach certain limits. We must also balance in our political and mother faith in our resolve to confront terrorism Mullich lei, since there is no security solution
My sincere to the challenges of terrorism and militias and there is no For the political Salek and paved to resolve these matters.
Therefore, we need both. At the time, which should keep the door open ailment as for the political process must remain our security forces stands and vigilance.
The second aspect of our strategy is the international aspect. The Iraqi government is aware that it must put an end to the violence the terrorist, not only for Iraq but also the region.If Iraq sinking into a civil war comprehensive, plunging the entire Middle East with him. This is not only a matter of theoretical opinion but my right Ka mindful of our neighbors broader wisdom.
Our determination to avoid the mistakes of the past, we declared the "international solidarity with Iraq" in a letter to mother m Nations in July 27. Through the fruitful meeting recently held in the United Arab Emirates Arab Nations, and with the assistance of the United Nations, Iraq met with other interested parties to the development of the Tallah m.

The plan included a road map for economic development. In a nation of so many wars for a long time, we find ourselves Baha came to give young Iraqis disgruntled people reticent Yen posts and give them a sense of pride generated by the work and hard instead of earning easy through disarmament. We invest our oil in the building of our infrastructure. and keep in mind to find work, functions and distribution of a the resources generated by us prosperity oil trade to a expanded.
We seek to participate not unconditional assistance. We adopt a structure plan for economic development, not just our requests to release a list of financial resources. In the area of services and energy must be there Shvavi e accountable, should there be a dialogue between the federal government Wa the federal regions and that there is justice in development .

But more than that we prepare a clear targets due to restructuring Sadena accompanied by mechanisms for cooperation and intelligence tennis security forth. Such a method of dealing with the matter, With broad international support, is anything new promises, as we hope,
The emergence of a Middle East characterized by cooperation, not war

Translated version of http://www.marsadiraq.com/index.php?option=com_content&task=view&id=2511&Ite mid=29

Wolfowitz May Bring Bank Back to Iraq

Wolfowitz May Bring Bank Back to Iraq
IPS - [23/02/2007]
World Bank President Paul Wolfowitz may appoint a new resident director for Iraq soon, a move that sources inside the Bank say could contradict the institution's policies on engagement in conflict-stricken areas and put his role in the 2003 U.S. invasion back into the limelight.

The move by Wolfowitz, the former number two official at the Pentagon and a main architect of the U.S.-led war, likely means the Bank would release new loans to the occupied Arab nation, despite the deteriorating security situation and recent disclosures of massive corruption in reconstruction efforts.

"This is exactly what he shouldn't be doing and what the [World Bank] board was initially afraid that he would do, which is to use the financial resources of the World Bank to take some of the heat off the U.S. Treasury and U.S. policy," Bea Edwards of the Washington-based watchdog group Government Accountability Project told IPS.

In a previous statement, Edwards argued that "Wolfowitz's apparent determination to use the World Bank to further questionable American military goals in the Middle East is a fundamental distortion of the Bank's mission, a violation of its founding Articles of Agreement, and a reckless waste of donor resources."

The Bank has a policy called Procedure 2.30 ("Development Cooperation and Conflict"), which states that to operate in a country emerging from a conflict, the Bank must first prepare a "watching brief," develop a transitional support strategy, begin transitional reconstruction, then begin post-conflict reconstruction, and finally return to normal lending.

Unlike the Bank's Interim Office for Iraq, which is based in Amman, Jordan, the soon-to-be-named country director would exclusively manage Iraq for the Bank from Baghdad, according to GAP, which first leaked the information, citing inside sources.

Other sources inside the Bank said talks with the new country director had taken place in January and continued until earlier this month. They say that a draft contract was being negotiated with the candidate who has some experience in post-conflict regions and speaks some Arabic.

This development has reportedly upset some Bank board members and senior staff who are concerned about staff safety and possible corruption given the numerous reports of shoddy work, mismanagement and labour abuses by private contractors hired to carry out major reconstruction projects in the country.

When Wolfowitz was first appointed in June 2005, there was an outcry at the board because of his close association with planning the Iraq war. For the past year and a half, Wolfowitz has kept a relatively low profile on the issue and tried to publicly tone down his ideological leanings.

Anticipating that Iraq could eventually take a more prominent role at the Bank, the board has periodically issued official statements -- a highly unusual measure -- telling Wolfowitz that they want to be updated on any plans for Iraq.

The news that he is discussing a contract with a new country director has caused those concerns to resurface.

Several board members declined on the record interviews for this article. For the past three days, Dina el-Naggar, a World Bank media officer, said she has not been able to arrange for World Bank officials working on Iraq to respond to written questions submitted by IPS.

Some critics note that Wolfowitz has been trying to polish his name by launching a widely publicised campaign against corruption in World Bank projects, but now appears to be moving ahead with new projects in Iraq despite ample evidence of wrongdoing there.

The World Bank has been involved through the Iraq Trust Fund, within the International Reconstruction Fund Facility for Iraq, which has financed 15 projects worth 410 million dollars to improve education, health, household data collection, irrigation and drainage, social protection, telecommunications, urban infrastructure, and water supply and sanitation.

The Washington-based lender says it has also approved 275 million dollars in International Development Association credits for education, electricity and transport.

In May 2006, Joseph Saba, country director of the Middle East Department, said the Bank was ready to strengthen its existing presence in Iraq, timed with the advent of a new Washington-backed government.

The Bank at the time said it was looking into hiring a "volunteer", meaning the job assignment will not be mandatory, to serve as Iraq country director based in Baghdad's Green Zone.

But political chaos and lack of security have so far limited the plans even though the Bank has promised that the new country director would be guarded by a dedicated security team, including for occasional controlled visits outside the Green Zone.

The Bank's operational work in Iraq has relied until now on a growing cadre of professional Iraqi staff based in the country, regular meetings with Iraqis outside of Iraq, use of the Bank's videoconferencing facilities in Baghdad, and close support from the Interim Office for Iraq in Amman.

The Bank has not had a major presence inside Iraq since a bombing on Aug. 19, 2003 claimed the life of a Bank staffer and those of 21 U.N. employees at the U.N. headquarters in Baghdad.

Yet ever since he came to office in June 2005, senior Bank staff and some board members have expressed fears that Wolfowitz's ideological leanings would push the Bank towards more involvement in the controversial conflict in Iraq.

Some inside sources say that the 30-year World Bank veteran Christiaan Poortman, who was vice-president for the Middle East, resigned last year because he objected to Wolfowitz's directives to prepare to increase lending and add staff in Iraq.

Edwards of GAP also points to the lack of a functioning system in Iraq that could guarantee that the Bank loans or projects will be dealt with in a transparent manner.

"In fact, the Bank is prohibited from operating in a conflict like this," said Edwards.

"In the simplest financial terms, there is no functioning banking system, the government does not control its territory and it cannot guarantee loan repayment. Any emergency or social funding in Iraq should come from donors' grants, not loans."

http://www.iraqdirectory.com/DisplayNews.aspx?id=3225