Thread: Iraq/Dinar Until June 9th 1PM CST

The Minister of Finance told the newspaper for a new justice on 06/08/2007 on the possibility of raising the prices of new oil derivatives, according to the requirements of the International Monetary Fund and the meeting read as follows : (a great commentary)

The newspaper justice for a rally with Mr. Jabr Al-Zubaydi, Minister of Finance discussed the various topics of Finance and Economy, files economic interest to the Iraqi issue and the challenges facing it confirmed that the financial budget for this year had covered all the needs of the country

From the investment projects, the greatest challenge lies in the implementation rests with the ministries and departments and between the investment law is much more important than the state budget, but this law does not do that the government did not appoint him to head now, As Iraq seeks to ease the conditions of the International Monetary Fund, commensurate with the needs of the Iraqi citizen, however, he emphasized that this endeavor States, the most prominent options to keep the debt burden of the Iraqi economy, the Minister disclosed that the Arab countries do not fall in debt from Iraq except for Saudi Arabia which showed Astaadadaha to topple 80% of Iraq's debt and other such matters were the focus of an interview with the newspaper, Mr. Minister (justice) : ministries, governorates and financial allocations In the question about the extent to which ministries and governorates of financial allocations in the implementation of projects said Minister of Finance : budget bill passed by the parliament Wye Wye seizing any of the Ministry's budget can be implemented 25% of the budget or more, but I regret to say that most provinces have not yet benefited from the 2007 budget as well as remnants 2006 to now and we are now asking them to implement and hope to hear them in a meeting we will hold soon that they were able to implement the 2006 budget either 2007, we have 10% have not benefited from them. - As for the ministries have held meetings with fourteen ministers allocated each minister hour with advanced cadre in his ministry and Advanced cadre in the Ministries and held meetings with the Ministers continuous But I regret what I discovered is that most of the Ministry not implemented 1% of the budget and talked to them frankly and said we will withdraw this funds from each ministry has not implemented 25% of investment funds allocated until June 30, 2007 and at June 30 if it fails to implement 25% of the funds would be withdrawn and given to the provinces and ministries that carried out more than 25% and then give these funds by the budget law passed by the parliament. These pressures motivate those ministries of Labor and O'dona work seriously and are now working day and night. There is a problem in the operating budget that relate to the salaries and bonuses are available to 100%, but the investment budget, which is related to citizens and provide services to the citizens myself was newborn with inspectors general of the ministries to pay their ministries for implementation. Indebtedness for extinguishing debt and said : at the beginning of the sixth month will be a meeting with Saudi officials specifically with the Saudi Minister of Finance in one European state and come to this meeting and hope that the Kingdom of Saudi Arabia, has committed itself to the International Decade in Sharm el-Sheikh to extinguish 65% of the debt and hope to sign the agreement soon. The People's Republic of China expressed her readiness during my meeting with Chinese Ambassador to extinguish 100% of government debt either commercial debt is more than 80% SAYING there is cause for joy at the news of the visit of His Excellency the President and I would be with him on this visit to China to discuss this topic, The problem now is that the Arab side did not open as we opened and the rest of the Arab countries now extinguished debt only Saudi Arabia expressed willingness to extinguish 80 of the debt. Concerning Iraqi assets and Iraqi assets at home and abroad, he said : that Iraq possessed a stock of hard currency in two places : first place in the Central Bank, there are 21 billion dollars and this is called the State General Reserve is given to supporting the Iraqi currency, and today the Iraqi currency is a global currency backed real support behind $ 21 billion in cash from various currencies in addition to large quantities of gold to support the Iraqi dinar reserves that either I second reserve is located to the Iraqi Development Fund, who is in New York this reserve is not a sense of reserve funds but is there benefit from the operation in order to obtain some benefits guaranteed, fixed and when we need to spend in the budget, we spend so we allocate in the budget of 2007, but until now ministries unable to exchange estimated that the amounts invested abroad by 7-8 billion dollars and disclosure would affect negatively on the international. The Iraqi funds in the former regime from abroad, called "the former regime had begun in the first re-Qasr (had), and now all French and Swiss lawyers to follow up the shares on behalf of the lawyer Khalil Dulaimi attorney to defend Saddam and discovered that the palace (was) his name and there is a tremendous amount of millions of dollars in the form of shares in his name in Switzerland Now, the French and Swiss courts consider the case that we have established through foreign lawyers to recover these shares and no other funds do not want to pursue them advertised now but when we get to a result pursuing. Retirement Law and the Law on retirement said : Retirement Act was submitted to the House of Representatives and the House of Representatives passed around him to the presidency, the governing body signed and now published in the Official Gazette is ready to be implemented and no reservations to the law because we have accepted with any decision of the parliament because parliament is obliged to each government. Pledges Iraq and the International Monetary Fund, on the International Monetary Fund and Iraq's commitment to its terms, he said : the International Monetary Fund is our positive because it helped Iraq to extinguish the $ 120 billion of debt and help Iraq to reach 140 billion dollars of debt, then, the International Monetary Fund stood beside Iraq in extinguishing debt which wrote to the Paris Club and the interest of Iraq contrast Monetary Fund international signed an agreement called the SPA and the Convention supporters of the Iraqi government that is the International Monetary Fund and controls submit proposals for the reform of the Iraqi economy, as has global expertise and experts, the Convention was signed by Dr Ali Allawi and ends at the end of this year has specified that the Iraq economic reforms to increase the value of the Iraqi dinar and raise the prices of oil derivatives, and the removal of subsidies on oil derivatives, and other issues such as reform of the banks and the development of the work of government banks and the provision of grants and proposals to provide credit and soft loans to citizens and to expand a network of social protection is the price of all these improvements in the Iraqi economy from the standpoint of the IMF, Iraq has two choices : either bound by the Convention, signed by former Finance Minister Allawi on Iraq must respect its obligations and then extinguished debt and reversing been stopped extinguish debts due amount $ 120 billion on Iraq, a sum that Iraq was unable to pay and must employ balanced each year until the debt is paid off between two and we are now facing an important and dangerous is preparing We, the Ministers of Finance and oil and the Central Bank Governor will meet at the sixth month(june) because the agreement ends months of this year they were preparing to sign a new agreement in the ninth month and would put the government before traveling to the meeting with IMF international this and take the decision because this resolution does not take from the oil minister or finance it is the decision of the government of Iraqi We will stand increases in the prices of oil and gasoline and will support the expansion of the network of social protection and repair of banks and support all the proposals which we believe but we believe that the Iraqi street is unable to with increases in the prices of oil derivatives at the present time, although that Nafi of the Iraqi economy, but that because of inflation and because of the inability of citizens to bear this and will raise this matter may have to accept Ayequblon If not accepted and imposing their conditions we will get back to snorting Iraqi government either sacrifice at 60 billion dollars and the return debt on Iraq and the rest of them because there is 20% of the debt they were parked not even ourselves Ytvuoha Convention Second They Aytalbon anything because it was originally 80%, 60% and Atefauha parked on our commitments, and 20% parked include $ 28 billion of that equation is not easy to take a decision on it all the spe******ts say According to extinguish debt useful to Iraq even if the Iraqis assume some of the increases, controls and we saw how the government was supporting oil derivatives (four billion dollars) this year either are no such specialties There has been no problem except the recent crisis that took place and this caused the security situation is not subject specialties and consequently four billions benefit protection network in Iraq and is working to increase the salaries and the granting of loans to citizens. Peace salaries and staff salaries for Peace said Mr. Finance Minister, a committee was formed by the Council of Ministers chaired by the Minister of Planning and membership of a number of ministers, we will PEACE new salary is quite different from keeping the current salary scales new hope to solve all the problems. Committees Sharm el-Sheikh and on the decisions of the Sharm el-Sheikh and commissions emanating therefrom and method of work, Mr. Minister : there committees consisting of the Deputy Prime Minister and Minister of Finance and Minister of Planning, as well as a number of spe******t committees but these three ministries are contributing to the establishment of three committees and the nature of these committees are technical committees and financial and economic assistance for Iraq's debt and follow either the economic Vsttabaa debt and pledged Initiative and I and my Deputy Secretary-General of the United Nations during the sixth month in a visit to Europe and the States, some of these countries, such as Bulgaria, Poland and Greece remained did not specify its debts and all of this work within the committees. The investment law regarding investment law and the reason behind the non-activated, Mr. Minister : Investment Law did not show much and the law for more than four months and the government further stalled in the appointment of the investment has not been formally appointed provincial awaiting the appointment of this president even begin doing this work because most of the work of the budget because the budget can not provide substantial funds for the provinces comes standard of the work nationwide projects quickly without the need for the State to investment from my viewpoint now even more important than the state budget. The attack on the financial With regard to the assault was subjected to the Finance Ministry said Mr. Minister : The Ministry of Finance is one of the most important ministries, as you know, is the Ministry of ministries aimed always targeted by the attack many times and once rumors and finally entering the ministry and the kidnapping and murder and targeting of this summit live Iraq.

Foreign exchange reserves equivalent to Saudi Arabia nearly $ 25 billion, according to the latest report of the Saudi Monetary Institution (CBE) for the month of April 2007 and it is considered a stable for Aalarak and production of nine million barrels of oil per day, where Mathakk Iraq's cash reserves is completed by all standards

Wow an excellent article, i just woke up and saw this with all sorts of positive points! Namely the fact that it says it's a Global currency!! That has been debated among the forums for a while, now........so many goodies packed into that article, need more coffee to absorb the rest........thanks, Hopefull

raise the prices of oil derivatives, and the removal of subsidies on oil derivatives, and other issues such as reform of the banks and the development of the work of government banks and the provision of grants and proposals to provide credit and soft loans to citizens

everyone of those in the works, they are slow, but i beleive they are getting things done finally!

Economic Advisor to the Czech embassy is down debt on Iraq and declares :




preparations for the implementation of railway project Basra-Zakho and other plants
-Haider Al-Rubaie
اعلن.The Economic Advisor to the Czech embassy in Iraq, his country's determination topple the entire debt on Iraq, pointing out that the volume of Czech exports has risen this year, reaching more than 30 million dollars.




.And through Dr. Khalil Sniff his country's desire to contribute to the building and reconstruction of Iraq. .Referring to the preparations of Czech companies establishment and rehabilitation of many Iraqi factories and companies, including a giant railway starts from Basra, including Baghdad, Mosul, leading to Zakho.
.He explained that there are other preparations for the rehabilitation of tractor plant in Alexandria "Antar" to the establishment of a giant plant for the manufacture of cement and with international advanced in Dahuk, with production capacity of 7000 tons per day and a total value of $ 450 million.
ي.Turning in his speech to relations between the Czech Republic are long in Iraq, which extends to the 1940s past.
..The transition experience in his country wishing to utilize them in the development of the Iraqi economy, including through support for the private sector which has been able to fulfill the country to the level it has attained remarkable ..
Translated version of http://www.alsabaah.com/

After dropping the entire debt from Iraq





العراقCzech Republic declares its willingness to participate in the construction and reconstruction of Iraq
بغداد ـ حيدر الربيعيBaghdad, Haider Al-Rubaie
وعدلارThe promise to drop the entire debt Alarahalln Economic Advisor to the Czech embassy in Iraq, said that the Czech Republic will drop the entire debt to Iraq, explaining that the volume of Czech exports to Iraq had risen significantly this year until they reached more than $ 30 million



..Until last month, pointing out that a large number of Czech companies will work on the construction and rehabilitation of many of the factories and companies Iraqi giant, including the establishment of railway starts from Baghdad with Basra and Mosul, Pzakho expiring, as well as the rehabilitation of tractors LAB Alexandria (Antar), The establishment of a giant plant for the manufacture of cement, with international advanced in Dahuk, with production capacity of 7000 tons per day and a total value of $ 450 million ..
عقود عديدةSeveral decades
..He said Dr. Khalil Sniff in an extended meeting with the (morning) : The Czech side on the verge of signing of a number of contracts with Iraq for the establishment and rehabilitation of a number of oil refineries, where some companies have already signed such agreements so to rehabilitate and develop refineries, Baiji, Basra session, as well as the agreement reached between the Czech Republic and Iraq to build Msavyin cards productivity significantly in each of Sulaymaniyah and Dahuk, in addition to another refinery to be agreed upon now in Amarah ..
..Sniff explained that the rise in the volume of bilateral trade and industrial cooperation between Iraq and the Czech Republic is a long extensions of up to the last 1940s, as well as many of the giant industrial companies and the big oil refineries and auto plants in Iraq is the creation of Agrabah Czech therefore that the Czech Republic is again ranked this developed in fact the Iraqi industrial ..
العراقFund for Iraq reconstruction
طائلة..Noting that the Czech Republic has sought to normalize relations with Iraq through the establishment of a fund for the reconstruction of Iraq in the Foreign Ministry and the Czech significant budget, in addition to the ongoing sessions hosted by the Czech side to develop the skills of Iraq all levels, The economic advisor to a number of Czech companies now discuss the rehabilitation of 80 carriages and railway construction to begin passing through Basra and Baghdad, Mosul and ending Pzakho, as well as those companies seeking to rehabilitate the glass factory in Ramadi, in addition to the creation of the largest plant for the production of cement in the region with production capacity of more than 7000 tons and financial value of $ 450 million, indicating the importance of the establishment of such labs, those productive capacities so as to the feet of Iraq to the reconstruction campaign and build large, It is forced to import cement from neighboring countries in large amounts ..
قانون ار مشجعEncouraging investment law
وتوقع..Sniff expected arrival of many Czech companies giant to Iraq, especially after the adoption of the investment law, which allows those companies to operate freely, and Sniff said : I am very satisfied with this law because it reassures foreign investors as it has many facilities that help investors to work in Iraq .. ..Sniff but hinted that the security aspect remains the only obstacle to the arrival of these companies, in addition to the decline in banking performance, which did not go so far to a level consistent with the ambition of the investment law, adding that the investment law needs more flexibility and transparency and procedures that facilitate the arrival of foreign investor, as well as poor means of communication which is still weak and which hinder the work of investors and businessmen and firms heavily dependent on the quality of sophisticated communications ..
دعلتطويرInvitation to develop
Fiscal and monetary policies
.Sniff also pointed to the need to be consistent monetary and financial policy with the investment and this policy must be linked by an ad hoc committee is also working to interpret the Investment Law in a comprehensive manner to allow others know well, in addition to that of this Committee to develop (a) Implementation of the investment law. وهذه ..And these things that would reassure investors and paid for work in Iraq ..
...Sniff and that Czech companies entered into Iraq strongly, and evidence of this is the volume of exports, as it hit this year until the end of May last more than $ 30 million ... .Moreover, the Czech reassure began to work in Iraq, especially through the gate of Kurdistan, which led us to open a liaison office of economic issues in Irbil. ..As many companies have moved to enter the Iraqi market and from various professions including exists regarding Palmsafi known as the Czech extraction operations in exploration and refining, as well as industry and railway cars and private industry security regulations, education, transport and many other disciplines other ..
...Pointing out that several companies began work effectively in Iraq and the company Prokop Tknowaksport company specializing in industry refineries and extraction, refining oil derivatives ...
اسلتأهيلReady to rehabilitate
مالكهرباءElectricity projects
مشابهSniff also said : The Czech government will soon drop the entire debt owed by Iraq, in support of the transformation process taken by Iraq, which are substantially similar to the transformation process, which coincided with the Czech Republic, where the economic reality that the Iraqi similar
تصاديTo a large extent the economic reality التشيكي..Czech .. ..Indicating that the Czech side expressed readiness heavily on the construction and rehabilitation of power stations and the speed with which the Iraqi side deems appropriate, pointing out that the energy industry in the Czech Republic enjoys a high reputation in many European countries, and is willing to establish the largest stations obstetric .. موضحاً ..He explained that the contacts had taken place on this matter with the Ministry of Electricity, but the many obstacles faced .. لكن..But Sniff expected to be cooperation in this aspect ..
المعوقاتConstraints
وابدىق.He expressed concern about the economic adviser to the obstacles facing the work of the foreign investor or the Czech Specifically, describing these obstacles (constraints) that are without the advent of investors to Iraq and said : Sniff : Our inability to contact Iraqi officials and the lack of corporate websites or Iraqi ministries (the Web site) in addition to the constraints of other routine complex, made many investors away from flowing to Iraq.
) ...Sniff pointed out that the Czech side will many of the important trade fairs in (Prague), which are the work of Iraqi trader, as well as the participation of the Czech Republic in all the exhibitions held for the reconstruction of Iraq, whether in Kurdistan or in the neighboring countries ... فيHe added that the first Czech States rushed to the reconstruction of Iraq through the body (C P A) has sent many experts and professionals to take advantage of their expertise in
العراق..Iraq ..
..As for the possibility of cooperation by some Czech companies with the private sector, said the Iraqi Sniff : all know that the sector faced a largely been marginalized by the former regime, which is now suffering greatly because of this marginalization, therefore, the government must first with the support of this sector and to provide him all the privileges to make it able to collaborate with large global corporations, especially in the area of reconstruction, and without this sector can not move the economic process in Iraq .. واضاف..He added .. .When there is no private sector is capable of creating a solid ground for industry, agriculture or tourism, trade or any other area of economic development, then with the can deal? .
دعم القطاع الخاصPrivate sector support
واكد.A Sniff of the existence of many projects that can support the private sector, which has already taken to the Czech Republic in order to upgrade by the private sector, which now plays a key role in the overall economic movement. ..
لقطاعAmong these projects, the support of small loans unemployed youth, and this is very important to get labor in addition to the revival of small enterprises are able to attract manpower as well as the lifting of the production process, as well as the importance that the government would bring in small labs to the private sector, in addition to the ongoing search for mechanisms and laws in support of the private
المهم.Important.

Translated version of http://www.alsabaah.com/

Resound votes and subsequent invitations to promote the private sector role in the conviction of his ability to address the chronic imbalances in many areas, create jobs and reduce poverty.




.This process calls from the need to address the excessive size of the public sector and the weakness of its effectiveness through the creation of the appropriate environment to enable the private sector to play a leading role in the national economy through legal reforms, administrative and financial, any create an incentive for foreign activities to provide the appropriate climate to strengthen links between the Iraqi economy and the global economy.
وقد العام.The effects of economic thinker Dr. Mahdi Al-Hafiz topic of the utmost importance in achieving economic reforms required by his call to create a partnership between the private and public sector.
وعد بعد.The promise of this partnership in the economic reform priorities which require strengthened with a view to developing the country's public administration on the basis of a modern, effective and free from bureaucratic constraints and outdated concepts, calling for reform of the financial sector and monetary banking because it is an important venue, consequently, to adapt the bilateral relationship between the private sector and public sector towards strengthening and expanding industries and SMEs and contribute to the diversification of the national economy in the long run.
..He pointed out numerous actions that have been taken in recent years to remove the imbalances in the years financial and monetary reform and budget .. .Among the most important measures to reduce the current expenditure for the benefit of investment spending through the phasing out of the manufacturing expenses of substantial support for goods and services.
.Successful steps taken by the monetary policy but at the same time has succeeded in difficult circumstances for the private sector and set went to increase investment for the development of SMEs, because of the harsh policy followed by the center to raise interest rate for deposit and lending.
في.In this regard voices resound economists that the trap is to adopt monetary policy provide banking facilities to enable the private sector to contribute to economic growth and expansion of activities. .What mirror them to call to rely on strategic and comprehensive national development and reform.
الى.It took other ministries encouraging for the rehabilitation of the role of the private sector. ك.Soft such as loans granted by the Ministry of Finance to some professionals, as well as the Ministry of Labor and Social Affairs to young unemployed graduates to help them find special projects provide employment opportunities as well as the case of the Ministry of Industry and Minerals.
.In a related context has been to establish a company guarantees bank loans to revive the Iraqi impact SMEs through guaranteed loans made by private banks to small and medium-sized enterprises have achieved a remarkable success in lending support such projects, which are among the main reasons for the rehabilitation of the private sector and its role in growth Economic.
.In summary, the strengthening of partnership between the private and public sector is vital condition for the implementation of economic reforms as well as a guarantee for building a vibrant economy and an effective and capable of addressing the problems of the transitional period, notably strengthening of market mechanisms and to develop solutions to the problems of unemployment, inflation and the deterioration of services and the difficult living conditions
Translated version of http://www.alsabaah.com/

Originally Posted by Hope Full

The Minister of Finance told the newspaper for a new justice on 06/08/2007 on the possibility of raising the prices of new oil derivatives, according to the requirements of the International Monetary Fund and the meeting read as follows : (a great commentary)

The newspaper justice for a rally with Mr. Jabr Al-Zubaydi, Minister of Finance discussed the various topics of Finance and Economy, files economic interest to the Iraqi issue and the challenges facing it confirmed that the financial budget for this year had covered all the needs of the country

From the investment projects, the greatest challenge lies in the implementation rests with the ministries and departments and between the investment law is much more important than the state budget, but this law does not do that the government did not appoint him to head now, As Iraq seeks to ease the conditions of the International Monetary Fund, commensurate with the needs of the Iraqi citizen, however, he emphasized that this endeavor States, the most prominent options to keep the debt burden of the Iraqi economy, the Minister disclosed that the Arab countries do not fall in debt from Iraq except for Saudi Arabia which showed Astaadadaha to topple 80% of Iraq's debt and other such matters were the focus of an interview with the newspaper, Mr. Minister (justice) : ministries, governorates and financial allocations In the question about the extent to which ministries and governorates of financial allocations in the implementation of projects said Minister of Finance : budget bill passed by the parliament Wye Wye seizing any of the Ministry's budget can be implemented 25% of the budget or more, but I regret to say that most provinces have not yet benefited from the 2007 budget as well as remnants 2006 to now and we are now asking them to implement and hope to hear them in a meeting we will hold soon that they were able to implement the 2006 budget either 2007, we have 10% have not benefited from them. - As for the ministries have held meetings with fourteen ministers allocated each minister hour with advanced cadre in his ministry and Advanced cadre in the Ministries and held meetings with the Ministers continuous But I regret what I discovered is that most of the Ministry not implemented 1% of the budget and talked to them frankly and said we will withdraw this funds from each ministry has not implemented 25% of investment funds allocated until June 30, 2007 and at June 30 if it fails to implement 25% of the funds would be withdrawn and given to the provinces and ministries that carried out more than 25% and then give these funds by the budget law passed by the parliament. These pressures motivate those ministries of Labor and O'dona work seriously and are now working day and night. There is a problem in the operating budget that relate to the salaries and bonuses are available to 100%, but the investment budget, which is related to citizens and provide services to the citizens myself was newborn with inspectors general of the ministries to pay their ministries for implementation. Indebtedness for extinguishing debt and said : at the beginning of the sixth month will be a meeting with Saudi officials specifically with the Saudi Minister of Finance in one European state and come to this meeting and hope that the Kingdom of Saudi Arabia, has committed itself to the International Decade in Sharm el-Sheikh to extinguish 65% of the debt and hope to sign the agreement soon. The People's Republic of China expressed her readiness during my meeting with Chinese Ambassador to extinguish 100% of government debt either commercial debt is more than 80% SAYING there is cause for joy at the news of the visit of His Excellency the President and I would be with him on this visit to China to discuss this topic, The problem now is that the Arab side did not open as we opened and the rest of the Arab countries now extinguished debt only Saudi Arabia expressed willingness to extinguish 80 of the debt. Concerning Iraqi assets and Iraqi assets at home and abroad, he said : that Iraq possessed a stock of hard currency in two places : first place in the Central Bank, there are 21 billion dollars and this is called the State General Reserve is given to supporting the Iraqi currency, and today the Iraqi currency is a global currency backed real support behind $ 21 billion in cash from various currencies in addition to large quantities of gold to support the Iraqi dinar reserves that either I second reserve is located to the Iraqi Development Fund, who is in New York this reserve is not a sense of reserve funds but is there benefit from the operation in order to obtain some benefits guaranteed, fixed and when we need to spend in the budget, we spend so we allocate in the budget of 2007, but until now ministries unable to exchange estimated that the amounts invested abroad by 7-8 billion dollars and disclosure would affect negatively on the international. The Iraqi funds in the former regime from abroad, called "the former regime had begun in the first re-Qasr (had), and now all French and Swiss lawyers to follow up the shares on behalf of the lawyer Khalil Dulaimi attorney to defend Saddam and discovered that the palace (was) his name and there is a tremendous amount of millions of dollars in the form of shares in his name in Switzerland Now, the French and Swiss courts consider the case that we have established through foreign lawyers to recover these shares and no other funds do not want to pursue them advertised now but when we get to a result pursuing. Retirement Law and the Law on retirement said : Retirement Act was submitted to the House of Representatives and the House of Representatives passed around him to the presidency, the governing body signed and now published in the Official Gazette is ready to be implemented and no reservations to the law because we have accepted with any decision of the parliament because parliament is obliged to each government. Pledges Iraq and the International Monetary Fund, on the International Monetary Fund and Iraq's commitment to its terms, he said : the International Monetary Fund is our positive because it helped Iraq to extinguish the $ 120 billion of debt and help Iraq to reach 140 billion dollars of debt, then, the International Monetary Fund stood beside Iraq in extinguishing debt which wrote to the Paris Club and the interest of Iraq contrast Monetary Fund international signed an agreement called the SPA and the Convention supporters of the Iraqi government that is the International Monetary Fund and controls submit proposals for the reform of the Iraqi economy, as has global expertise and experts, the Convention was signed by Dr Ali Allawi and ends at the end of this year has specified that the Iraq economic reforms to increase the value of the Iraqi dinar and raise the prices of oil derivatives, and the removal of subsidies on oil derivatives, and other issues such as reform of the banks and the development of the work of government banks and the provision of grants and proposals to provide credit and soft loans to citizens and to expand a network of social protection is the price of all these improvements in the Iraqi economy from the standpoint of the IMF, Iraq has two choices : either bound by the Convention, signed by former Finance Minister Allawi on Iraq must respect its obligations and then extinguished debt and reversing been stopped extinguish debts due amount $ 120 billion on Iraq, a sum that Iraq was unable to pay and must employ balanced each year until the debt is paid off between two and we are now facing an important and dangerous is preparing We, the Ministers of Finance and oil and the Central Bank Governor will meet at the sixth month(june) because the agreement ends months of this year they were preparing to sign a new agreement in the ninth month and would put the government before traveling to the meeting with IMF international this and take the decision because this resolution does not take from the oil minister or finance it is the decision of the government of Iraqi We will stand increases in the prices of oil and gasoline and will support the expansion of the network of social protection and repair of banks and support all the proposals which we believe but we believe that the Iraqi street is unable to with increases in the prices of oil derivatives at the present time, although that Nafi of the Iraqi economy, but that because of inflation and because of the inability of citizens to bear this and will raise this matter may have to accept Ayequblon If not accepted and imposing their conditions we will get back to snorting Iraqi government either sacrifice at 60 billion dollars and the return debt on Iraq and the rest of them because there is 20% of the debt they were parked not even ourselves Ytvuoha Convention Second They Aytalbon anything because it was originally 80%, 60% and Atefauha parked on our commitments, and 20% parked include $ 28 billion of that equation is not easy to take a decision on it all the spe******ts say According to extinguish debt useful to Iraq even if the Iraqis assume some of the increases, controls and we saw how the government was supporting oil derivatives (four billion dollars) this year either are no such specialties There has been no problem except the recent crisis that took place and this caused the security situation is not subject specialties and consequently four billions benefit protection network in Iraq and is working to increase the salaries and the granting of loans to citizens. Peace salaries and staff salaries for Peace said Mr. Finance Minister, a committee was formed by the Council of Ministers chaired by the Minister of Planning and membership of a number of ministers, we will PEACE new salary is quite different from keeping the current salary scales new hope to solve all the problems. Committees Sharm el-Sheikh and on the decisions of the Sharm el-Sheikh and commissions emanating therefrom and method of work, Mr. Minister : there committees consisting of the Deputy Prime Minister and Minister of Finance and Minister of Planning, as well as a number of spe******t committees but these three ministries are contributing to the establishment of three committees and the nature of these committees are technical committees and financial and economic assistance for Iraq's debt and follow either the economic Vsttabaa debt and pledged Initiative and I and my Deputy Secretary-General of the United Nations during the sixth month in a visit to Europe and the States, some of these countries, such as Bulgaria, Poland and Greece remained did not specify its debts and all of this work within the committees. The investment law regarding investment law and the reason behind the non-activated, Mr. Minister : Investment Law did not show much and the law for more than four months and the government further stalled in the appointment of the investment has not been formally appointed provincial awaiting the appointment of this president even begin doing this work because most of the work of the budget because the budget can not provide substantial funds for the provinces comes standard of the work nationwide projects quickly without the need for the State to investment from my viewpoint now even more important than the state budget. The attack on the financial With regard to the assault was subjected to the Finance Ministry said Mr. Minister : The Ministry of Finance is one of the most important ministries, as you know, is the Ministry of ministries aimed always targeted by the attack many times and once rumors and finally entering the ministry and the kidnapping and murder and targeting of this summit live Iraq.

GREAT POST HOPEFULL, ESPECIALLY ALL THE DEBT RELIEF AND THE COMMENT OF IT BEING A GLOBAL CURRENCY... BRING IT ON PEOPLE

"...International Monetary Fund and controls submit proposals for the reform of the Iraqi economy, as has global expertise and experts, the Convention was signed by Dr Ali Allawi and ends at the end of this year (Dec.31st. 2006) has specified that the Iraq economic reforms to increase the value of the Iraqi dinar and raise the prices of oil derivatives, and the removal of subsidies on oil derivatives, and other issues such as reform of the banks and the development of the work of government banks and the provision of grants and proposals to provide credit and soft loans to citizens and to expand a network of social protection is the price of all these improvements in the Iraqi economy..."


Can't be much longer now!

If dinar value stays at 1260 with no evidence of "slow grow" then we are definately looking at "sudden grow"!

Confirmes alot that has been put out there by others.

Originally Posted by Hope Full

The Minister of Finance told the newspaper for a new justice on 06/08/2007 on the possibility of raising the prices of new oil derivatives, according to the requirements of the International Monetary Fund and the meeting read as follows : (a great commentary)

The newspaper justice for a rally with Mr. Jabr Al-Zubaydi, Minister of Finance discussed the various topics of Finance and Economy, files economic interest to the Iraqi issue and the challenges facing it confirmed that the financial budget for this year had covered all the needs of the country

From the investment projects, the greatest challenge lies in the implementation rests with the ministries and departments and between the investment law is much more important than the state budget, but this law does not do that the government did not appoint him to head now, As Iraq seeks to ease the conditions of the International Monetary Fund, commensurate with the needs of the Iraqi citizen, however, he emphasized that this endeavor States, the most prominent options to keep the debt burden of the Iraqi economy, the Minister disclosed that the Arab countries do not fall in debt from Iraq except for Saudi Arabia which showed Astaadadaha to topple 80% of Iraq's debt and other such matters were the focus of an interview with the newspaper, Mr. Minister (justice) : ministries, governorates and financial allocations In the question about the extent to which ministries and governorates of financial allocations in the implementation of projects said Minister of Finance : budget bill passed by the parliament Wye Wye seizing any of the Ministry's budget can be implemented 25% of the budget or more, but I regret to say that most provinces have not yet benefited from the 2007 budget as well as remnants 2006 to now and we are now asking them to implement and hope to hear them in a meeting we will hold soon that they were able to implement the 2006 budget either 2007, we have 10% have not benefited from them. - As for the ministries have held meetings with fourteen ministers allocated each minister hour with advanced cadre in his ministry and Advanced cadre in the Ministries and held meetings with the Ministers continuous But I regret what I discovered is that most of the Ministry not implemented 1% of the budget and talked to them frankly and said we will withdraw this funds from each ministry has not implemented 25% of investment funds allocated until June 30, 2007 and at June 30 if it fails to implement 25% of the funds would be withdrawn and given to the provinces and ministries that carried out more than 25% and then give these funds by the budget law passed by the parliament. These pressures motivate those ministries of Labor and O'dona work seriously and are now working day and night. There is a problem in the operating budget that relate to the salaries and bonuses are available to 100%, but the investment budget, which is related to citizens and provide services to the citizens myself was newborn with inspectors general of the ministries to pay their ministries for implementation. Indebtedness for extinguishing debt and said : at the beginning of the sixth month will be a meeting with Saudi officials specifically with the Saudi Minister of Finance in one European state and come to this meeting and hope that the Kingdom of Saudi Arabia, has committed itself to the International Decade in Sharm el-Sheikh to extinguish 65% of the debt and hope to sign the agreement soon. The People's Republic of China expressed her readiness during my meeting with Chinese Ambassador to extinguish 100% of government debt either commercial debt is more than 80% SAYING there is cause for joy at the news of the visit of His Excellency the President and I would be with him on this visit to China to discuss this topic, The problem now is that the Arab side did not open as we opened and the rest of the Arab countries now extinguished debt only Saudi Arabia expressed willingness to extinguish 80 of the debt. Concerning Iraqi assets and Iraqi assets at home and abroad, he said : that Iraq possessed a stock of hard currency in two places : first place in the Central Bank, there are 21 billion dollars and this is called the State General Reserve is given to supporting the Iraqi currency, and today the Iraqi currency is a global currency backed real support behind $ 21 billion in cash from various currencies in addition to large quantities of gold to support the Iraqi dinar reserves that either I second reserve is located to the Iraqi Development Fund, who is in New York this reserve is not a sense of reserve funds but is there benefit from the operation in order to obtain some benefits guaranteed, fixed and when we need to spend in the budget, we spend so we allocate in the budget of 2007, but until now ministries unable to exchange estimated that the amounts invested abroad by 7-8 billion dollars and disclosure would affect negatively on the international. The Iraqi funds in the former regime from abroad, called "the former regime had begun in the first re-Qasr (had), and now all French and Swiss lawyers to follow up the shares on behalf of the lawyer Khalil Dulaimi attorney to defend Saddam and discovered that the palace (was) his name and there is a tremendous amount of millions of dollars in the form of shares in his name in Switzerland Now, the French and Swiss courts consider the case that we have established through foreign lawyers to recover these shares and no other funds do not want to pursue them advertised now but when we get to a result pursuing. Retirement Law and the Law on retirement said : Retirement Act was submitted to the House of Representatives and the House of Representatives passed around him to the presidency, the governing body signed and now published in the Official Gazette is ready to be implemented and no reservations to the law because we have accepted with any decision of the parliament because parliament is obliged to each government. Pledges Iraq and the International Monetary Fund, on the International Monetary Fund and Iraq's commitment to its terms, he said : the International Monetary Fund is our positive because it helped Iraq to extinguish the $ 120 billion of debt and help Iraq to reach 140 billion dollars of debt, then, the International Monetary Fund stood beside Iraq in extinguishing debt which wrote to the Paris Club and the interest of Iraq contrast Monetary Fund international signed an agreement called the SPA and the Convention supporters of the Iraqi government that is the International Monetary Fund and controls submit proposals for the reform of the Iraqi economy, as has global expertise and experts, the Convention was signed by Dr Ali Allawi and ends at the end of this year has specified that the Iraq economic reforms to increase the value of the Iraqi dinar and raise the prices of oil derivatives, and the removal of subsidies on oil derivatives, and other issues such as reform of the banks and the development of the work of government banks and the provision of grants and proposals to provide credit and soft loans to citizens and to expand a network of social protection is the price of all these improvements in the Iraqi economy from the standpoint of the IMF, Iraq has two choices : either bound by the Convention, signed by former Finance Minister Allawi on Iraq must respect its obligations and then extinguished debt and reversing been stopped extinguish debts due amount $ 120 billion on Iraq, a sum that Iraq was unable to pay and must employ balanced each year until the debt is paid off between two and we are now facing an important and dangerous is preparing We, the Ministers of Finance and oil and the Central Bank Governor will meet at the sixth month(june) because the agreement ends months of this year they were preparing to sign a new agreement in the ninth month and would put the government before traveling to the meeting with IMF international this and take the decision because this resolution does not take from the oil minister or finance it is the decision of the government of Iraqi We will stand increases in the prices of oil and gasoline and will support the expansion of the network of social protection and repair of banks and support all the proposals which we believe but we believe that the Iraqi street is unable to with increases in the prices of oil derivatives at the present time, although that Nafi of the Iraqi economy, but that because of inflation and because of the inability of citizens to bear this and will raise this matter may have to accept Ayequblon If not accepted and imposing their conditions we will get back to snorting Iraqi government either sacrifice at 60 billion dollars and the return debt on Iraq and the rest of them because there is 20% of the debt they were parked not even ourselves Ytvuoha Convention Second They Aytalbon anything because it was originally 80%, 60% and Atefauha parked on our commitments, and 20% parked include $ 28 billion of that equation is not easy to take a decision on it all the spe******ts say According to extinguish debt useful to Iraq even if the Iraqis assume some of the increases, controls and we saw how the government was supporting oil derivatives (four billion dollars) this year either are no such specialties There has been no problem except the recent crisis that took place and this caused the security situation is not subject specialties and consequently four billions benefit protection network in Iraq and is working to increase the salaries and the granting of loans to citizens. Peace salaries and staff salaries for Peace said Mr. Finance Minister, a committee was formed by the Council of Ministers chaired by the Minister of Planning and membership of a number of ministers, we will PEACE new salary is quite different from keeping the current salary scales new hope to solve all the problems. Committees Sharm el-Sheikh and on the decisions of the Sharm el-Sheikh and commissions emanating therefrom and method of work, Mr. Minister : there committees consisting of the Deputy Prime Minister and Minister of Finance and Minister of Planning, as well as a number of spe******t committees but these three ministries are contributing to the establishment of three committees and the nature of these committees are technical committees and financial and economic assistance for Iraq's debt and follow either the economic Vsttabaa debt and pledged Initiative and I and my Deputy Secretary-General of the United Nations during the sixth month in a visit to Europe and the States, some of these countries, such as Bulgaria, Poland and Greece remained did not specify its debts and all of this work within the committees. The investment law regarding investment law and the reason behind the non-activated, Mr. Minister : Investment Law did not show much and the law for more than four months and the government further stalled in the appointment of the investment has not been formally appointed provincial awaiting the appointment of this president even begin doing this work because most of the work of the budget because the budget can not provide substantial funds for the provinces comes standard of the work nationwide projects quickly without the need for the State to investment from my viewpoint now even more important than the state budget. The attack on the financial With regard to the assault was subjected to the Finance Ministry said Mr. Minister : The Ministry of Finance is one of the most important ministries, as you know, is the Ministry of ministries aimed always targeted by the attack many times and once rumors and finally entering the ministry and the kidnapping and murder and targeting of this summit live Iraq.

Originally Posted by Hope Full

The Minister of Finance told the newspaper for a new justice on 06/08/2007 on the possibility of raising the prices of new oil derivatives, according to the requirements of the International Monetary Fund and the meeting read as follows : (a great commentary)

The newspaper justice for a rally with Mr. Jabr Al-Zubaydi, Minister of Finance discussed the various topics of Finance and Economy, files economic interest to the Iraqi issue and the challenges facing it confirmed that the financial budget for this year had covered all the needs of the country

From the investment projects, the greatest challenge lies in the implementation rests with the ministries and departments and between the investment law is much more important than the state budget, but this law does not do that the government did not appoint him to head now, As Iraq seeks to ease the conditions of the International Monetary Fund, commensurate with the needs of the Iraqi citizen, however, he emphasized that this endeavor States, the most prominent options to keep the debt burden of the Iraqi economy, the Minister disclosed that the Arab countries do not fall in debt from Iraq except for Saudi Arabia which showed Astaadadaha to topple 80% of Iraq's debt and other such matters were the focus of an interview with the newspaper, Mr. Minister (justice) : ministries, governorates and financial allocations In the question about the extent to which ministries and governorates of financial allocations in the implementation of projects said Minister of Finance : budget bill passed by the parliament Wye Wye seizing any of the Ministry's budget can be implemented 25% of the budget or more, but I regret to say that most provinces have not yet benefited from the 2007 budget as well as remnants 2006 to now and we are now asking them to implement and hope to hear them in a meeting we will hold soon that they were able to implement the 2006 budget either 2007, we have 10% have not benefited from them. - As for the ministries have held meetings with fourteen ministers allocated each minister hour with advanced cadre in his ministry and Advanced cadre in the Ministries and held meetings with the Ministers continuous But I regret what I discovered is that most of the Ministry not implemented 1% of the budget and talked to them frankly and said we will withdraw this funds from each ministry has not implemented 25% of investment funds allocated until June 30, 2007 and at June 30 if it fails to implement 25% of the funds would be withdrawn and given to the provinces and ministries that carried out more than 25% and then give these funds by the budget law passed by the parliament. These pressures motivate those ministries of Labor and O'dona work seriously and are now working day and night. There is a problem in the operating budget that relate to the salaries and bonuses are available to 100%, but the investment budget, which is related to citizens and provide services to the citizens myself was newborn with inspectors general of the ministries to pay their ministries for implementation. Indebtedness for extinguishing debt and said : at the beginning of the sixth month will be a meeting with Saudi officials specifically with the Saudi Minister of Finance in one European state and come to this meeting and hope that the Kingdom of Saudi Arabia, has committed itself to the International Decade in Sharm el-Sheikh to extinguish 65% of the debt and hope to sign the agreement soon. The People's Republic of China expressed her readiness during my meeting with Chinese Ambassador to extinguish 100% of government debt either commercial debt is more than 80% SAYING there is cause for joy at the news of the visit of His Excellency the President and I would be with him on this visit to China to discuss this topic, The problem now is that the Arab side did not open as we opened and the rest of the Arab countries now extinguished debt only Saudi Arabia expressed willingness to extinguish 80 of the debt. Concerning Iraqi assets and Iraqi assets at home and abroad, he said : that Iraq possessed a stock of hard currency in two places : first place in the Central Bank, there are 21 billion dollars and this is called the State General Reserve is given to supporting the Iraqi currency, and today the Iraqi currency is a global currency backed real support behind $ 21 billion in cash from various currencies in addition to large quantities of gold to support the Iraqi dinar reserves that either I second reserve is located to the Iraqi Development Fund, who is in New York this reserve is not a sense of reserve funds but is there benefit from the operation in order to obtain some benefits guaranteed, fixed and when we need to spend in the budget, we spend so we allocate in the budget of 2007, but until now ministries unable to exchange estimated that the amounts invested abroad by 7-8 billion dollars and disclosure would affect negatively on the international. The Iraqi funds in the former regime from abroad, called "the former regime had begun in the first re-Qasr (had), and now all French and Swiss lawyers to follow up the shares on behalf of the lawyer Khalil Dulaimi attorney to defend Saddam and discovered that the palace (was) his name and there is a tremendous amount of millions of dollars in the form of shares in his name in Switzerland Now, the French and Swiss courts consider the case that we have established through foreign lawyers to recover these shares and no other funds do not want to pursue them advertised now but when we get to a result pursuing. Retirement Law and the Law on retirement said : Retirement Act was submitted to the House of Representatives and the House of Representatives passed around him to the presidency, the governing body signed and now published in the Official Gazette is ready to be implemented and no reservations to the law because we have accepted with any decision of the parliament because parliament is obliged to each government. Pledges Iraq and the International Monetary Fund, on the International Monetary Fund and Iraq's commitment to its terms, he said : the International Monetary Fund is our positive because it helped Iraq to extinguish the $ 120 billion of debt and help Iraq to reach 140 billion dollars of debt, then, the International Monetary Fund stood beside Iraq in extinguishing debt which wrote to the Paris Club and the interest of Iraq contrast Monetary Fund international signed an agreement called the SPA and the Convention supporters of the Iraqi government that is the International Monetary Fund and controls submit proposals for the reform of the Iraqi economy, as has global expertise and experts, the Convention was signed by Dr Ali Allawi and ends at the end of this year has specified that the Iraq economic reforms to increase the value of the Iraqi dinar and raise the prices of oil derivatives, and the removal of subsidies on oil derivatives, and other issues such as reform of the banks and the development of the work of government banks and the provision of grants and proposals to provide credit and soft loans to citizens and to expand a network of social protection is the price of all these improvements in the Iraqi economy from the standpoint of the IMF, Iraq has two choices : either bound by the Convention, signed by former Finance Minister Allawi on Iraq must respect its obligations and then extinguished debt and reversing been stopped extinguish debts due amount $ 120 billion on Iraq, a sum that Iraq was unable to pay and must employ balanced each year until the debt is paid off between two and we are now facing an important and dangerous is preparing We, the Ministers of Finance and oil and the Central Bank Governor will meet at the sixth month(june) because the agreement ends months of this year they were preparing to sign a new agreement in the ninth month and would put the government before traveling to the meeting with IMF international this and take the decision because this resolution does not take from the oil minister or finance it is the decision of the government of Iraqi We will stand increases in the prices of oil and gasoline and will support the expansion of the network of social protection and repair of banks and support all the proposals which we believe but we believe that the Iraqi street is unable to with increases in the prices of oil derivatives at the present time, although that Nafi of the Iraqi economy, but that because of inflation and because of the inability of citizens to bear this and will raise this matter may have to accept Ayequblon If not accepted and imposing their conditions we will get back to snorting Iraqi government either sacrifice at 60 billion dollars and the return debt on Iraq and the rest of them because there is 20% of the debt they were parked not even ourselves Ytvuoha Convention Second They Aytalbon anything because it was originally 80%, 60% and Atefauha parked on our commitments, and 20% parked include $ 28 billion of that equation is not easy to take a decision on it all the spe******ts say According to extinguish debt useful to Iraq even if the Iraqis assume some of the increases, controls and we saw how the government was supporting oil derivatives (four billion dollars) this year either are no such specialties There has been no problem except the recent crisis that took place and this caused the security situation is not subject specialties and consequently four billions benefit protection network in Iraq and is working to increase the salaries and the granting of loans to citizens. Peace salaries and staff salaries for Peace said Mr. Finance Minister, a committee was formed by the Council of Ministers chaired by the Minister of Planning and membership of a number of ministers, we will PEACE new salary is quite different from keeping the current salary scales new hope to solve all the problems. Committees Sharm el-Sheikh and on the decisions of the Sharm el-Sheikh and commissions emanating therefrom and method of work, Mr. Minister : there committees consisting of the Deputy Prime Minister and Minister of Finance and Minister of Planning, as well as a number of spe******t committees but these three ministries are contributing to the establishment of three committees and the nature of these committees are technical committees and financial and economic assistance for Iraq's debt and follow either the economic Vsttabaa debt and pledged Initiative and I and my Deputy Secretary-General of the United Nations during the sixth month in a visit to Europe and the States, some of these countries, such as Bulgaria, Poland and Greece remained did not specify its debts and all of this work within the committees. The investment law regarding investment law and the reason behind the non-activated, Mr. Minister : Investment Law did not show much and the law for more than four months and the government further stalled in the appointment of the investment has not been formally appointed provincial awaiting the appointment of this president even begin doing this work because most of the work of the budget because the budget can not provide substantial funds for the provinces comes standard of the work nationwide projects quickly without the need for the State to investment from my viewpoint now even more important than the state budget. The attack on the financial With regard to the assault was subjected to the Finance Ministry said Mr. Minister : The Ministry of Finance is one of the most important ministries, as you know, is the Ministry of ministries aimed always targeted by the attack many times and once rumors and finally entering the ministry and the kidnapping and murder and targeting of this summit live Iraq.

Yes, excellent article! I am a little concerned though about the highlighted part. Sounds like they are considering extending the SBA when it expires in September! Lets hope this isn't the case!

Cheers!
DayDream