Thread: Archive Latest News - Think Tank - 15/04/08 - 26/08/08

Oil talks resume in Iraq in June

The Iraqi central and Kurdistan regional governments will resume negotiations over the oil law and key issues in early June.

Other topics include the disputed territories in the north.

Falah Mustafa Bakir, the head of the Kurdistan Regional Government's Department of Foreign Relations, told United Press International "there is better understanding" after Prime Minister Nouri al-Maliki launched the incursion into Basra and the Kurdish leadership backed him.

"It created a positive atmosphere in Baghdad," he said.

KRG Prime Minister Nechirvan Barzani and Maliki will meet, as will their respective delegations, including KRG Natural Resources Minister Ashti Hawrami and Iraqi Oil Minister Hussain al-Shahristani.

The two energy ministers have butted heads over the KRG's signing its own exploration and production deals with foreign companies and a dispute as to what the oil law should look like.

"The KRG is determined to go ahead and contribute positively in order to have a hydrocarbon law, based on our belief that the private sector and foreign investment can be a good impetus and good incentive to enhance the economy," Bakir said. "We believe that our approach, which is a free market oriented, market economy approach, would help Iraq at this stage."

Many outside the semiautonomous Kurdish region favor to some extent the continuation of a more centralized and nationalized oil sector.

Bakir said the two prime ministers agreed that the February 2007 draft of the oil law would be under negotiation, and that all of the oil-related laws and issues would be sent to Parliament as a package. These are the hydrocarbons law, the revenue sharing law, the laws re-establishing the Iraq National Oil Co. and reorganizing the Ministry of Oil, and a list of oil fields and exploration blocks that determine whether they are controlled by the central or local governments.

Oil talks resume in Iraq in June - UPI.com

Looking to forgiving Gulf neighbours

With the alleged improved security position in Iraq, oil production there is now higher than it was prior to the US-led invasion. Estimates vary, but it is thought to be 2 million barrels a day which, with proven reserves of over 115 billion barrels, means a prosperous future once full peace is achieved.

Despite the oil reserves and increased production, Iraq is shackled by repayment of its war debt, originally more than $120 billion, but now at about half that as some countries wiped off the debt to give Iraq a chance to rebuild. But it seems that is not enough for, at a conference in Sweden, Iraqi Prime Minister Nouri Al Maliki asked the international community - with particular focus on neighbouring Gulf states - to cancel all the debt. But until there are clearer signs of the political direction Iraq will take, it is doubtful Gulf neighbours will be in a forgiving mood.

Gulfnews: Looking to forgiving Gulf neighbours

Did anyone see that thread on the other forum when it was on earlier today ...about Saudi Arabia forgiving debt today ????

Found it...here it is incase it hasn't been posted yet !!

Saudi Arabia says ready to look into easing debts owed by Iraq
STOCKHOLM, 30 May 2008 (Kuwait News Agency (KUNA))
Saudi Arabia expressed here on Thursday its readiness to consider easing its official debt owed by Iraq.
Saudi Minister of State for Foreign Affairs Nizar Madani said in a speech to the annual meetings of the International Covenant on Iraq (ICI) that Saudi Arabia "expressed willingness to consider easing its official debt owed by Iraq." He stated in this regard that "Saudi Arabia has provided all information available to it to the Iraqi side and is awaiting response of the Iraqi brothers in order to find a proper settlement of this matter." He also underscored the firm commitment of Saudi Arabia in supporting Iraq's unity, sovereignty, independence and its Arab and Islamic identity, as well as rejecting any claims to divide the country and the importance of non-interference in its internal affairs.
For its part, Egypt reiterated that it is in the forefront of countries that seek to cooperate and coordinate at all levels for the sake of building a new Iraq and is capable of contributing to its security, stability and development of its territory, benefiting from its enormous potentials, material and human energies.
Egyptian deputy Assistant Secretary of State for Foreign Affairs Hossam Zaki said in a similar speech that the ICI which was adopted in Sharm El-Sheikh aims to promote international partnership to improve the lives of the Iraqi people and advancing the process of reconstruction and development within the community of democratic, multi-Iraqi.
Furthermore, the UAE has praised efforts of the Iraqi government to achieve security and stability and its commitment to disarm all militias and armed groups, as well as protecting the sovereignty and territorial integrity of Iraq.

Saudi Arabia says ready to look into easing debts owed by Iraq | Iraq Updates

Originally Posted by SteveISX

Found it...here it is incase it hasn't been posted yet !!

Saudi Arabia says ready to look into easing debts owed by Iraq
STOCKHOLM, 30 May 2008 (Kuwait News Agency (KUNA))
Saudi Arabia expressed here on Thursday its readiness to consider easing its official debt owed by Iraq.
Saudi Minister of State for Foreign Affairs Nizar Madani said in a speech to the annual meetings of the International Covenant on Iraq (ICI) that Saudi Arabia "expressed willingness to consider easing its official debt owed by Iraq." He stated in this regard that "Saudi Arabia has provided all information available to it to the Iraqi side and is awaiting response of the Iraqi brothers in order to find a proper settlement of this matter." He also underscored the firm commitment of Saudi Arabia in supporting Iraq's unity, sovereignty, independence and its Arab and Islamic identity, as well as rejecting any claims to divide the country and the importance of non-interference in its internal affairs.
For its part, Egypt reiterated that it is in the forefront of countries that seek to cooperate and coordinate at all levels for the sake of building a new Iraq and is capable of contributing to its security, stability and development of its territory, benefiting from its enormous potentials, material and human energies.
Egyptian deputy Assistant Secretary of State for Foreign Affairs Hossam Zaki said in a similar speech that the ICI which was adopted in Sharm El-Sheikh aims to promote international partnership to improve the lives of the Iraqi people and advancing the process of reconstruction and development within the community of democratic, multi-Iraqi.
Furthermore, the UAE has praised efforts of the Iraqi government to achieve security and stability and its commitment to disarm all militias and armed groups, as well as protecting the sovereignty and territorial integrity of Iraq.

Saudi Arabia says ready to look into easing debts owed by Iraq | Iraq Updates

Might be a doulbe..

Where the heck is the "Edit button" on this site....??? LOL

Originally Posted by SteveISX

Where the heck is the "Edit button" on this site....??? LOL

Hi, the edit button is at the bottom right hand corner of the post you have made.

Hope that makes sense.

These are the only things at the bottom of mine....which one is the Edit button ...LOL

Oops - guess it's been switched off. Mind is on so I assumed everyone else's is too.

Sometimes things are removed to make the website speed faster.

I'll ask Admin when I have a minute. Sorry.

Governor of Central Bank of Iraq: Our development of the Iraqi economy and to maintain the lowest rate of inflation indices

Abdallah Kassem
Particularly blighted site

Iraqi currency fluctuations experienced during the many decades was the most Tsainiat during the past century has lost its cover when supporting the former regime and then proceed to print currency inside the country after the sanctions were imposed on Iraq by the invasion of Kuwait which led to losing their currency value amid rising prices of other currencies etc. To change the regime in Iraq even been to hasten to print a new currency with the cover material from other currencies, which stimulated the Iraqi dinar and gave him greater confidence in business dealings and banking, but that most Iraqis now hold dinars at the expense of foreign currencies as envisioned improved exchange rate and increased Purchasing power.

Central Bank Governor Sinan Alshabibi, during a press conference held recently in Baghdad, had been blighted by the present, he pointed out that it is responsible for monetary policy of the country through maintaining the exchange rate and reducing the rate of inflation which is achieved economic stability of the country, which in turn would achieve economic development.

Alshabibi pointed out that the main threat to achieving economic development of countries is the instability of commodity prices, especially where the great disparity that occurs between supply and demand, pointing out that the bank had a person this issue from the outset and was working with the Iraqi government for the purpose avoided.

The Iraqi Central Bank Governor of the Bank for its policies which operates through the development of the economy and is responsible directly responsible Among those responsibilities is with respect to exchange rate and interest rate, as well as state-owned reserve of cash, pointing out that Iraq now possessed of a cash reserve reached nearly Thirty billion dollars made the central bank can control the Iraqi dinar exchange rate and avoid any disruption or trauma faced by the Iraqi market due to fluctuations in global prices for commodities and basic materials, stressing that the bank will not stop at that figure, but will try to increase these amounts.

At the centre of inflation, said Dr. Sinan Alshabibi that Iraq has suffered over the years by the high level of inflation in the Iraqi market, reaching sometimes more than 65 percent, thus rendering the central bank is working to reduce these percentages so that access to only ten percent, which would make Economic growth of the country unable to meet this level of inflation.

Among the other treatments mentioned by the Governor of the Central Bank is to increase and improve the exchange rate of Iraqi dinar, which is helping the development process, since the prices of imported goods and equipment to Iraq will depreciate in front of the dinar

In the area of debt resulting from the Iraq policies by the former regime and the wars against its neighbors, Dr. Sinan Alshabibi the end of the current year will witness a further reduction of the remaining debt on Iraq to Paris Club countries, estimated twenty billion dollars and that negotiations were underway with other countries for the purpose Termination or reduction of that debt.

There should be steps that economic growth, which works by the relevant agencies such as the central bank needs to be drastic treatments Government is working to end them, including the security file, political and reducing unemployment by creating jobs and revitalizing the industrial and agricultural sectors and attract investors, which are all things which will verify Leap in quality of the country in this area.

http://translate.google.com/translate?hl=en&sl=ar&u=http://www.mawtani.com/ar/content/articles/0805_iraqi_central_ir/&sa=X&oi=translate&resnum=3&ct=result&prev=/search%3Fq%3D%2B%2522%25D8%25A7%25D9%2584%25D8%25A 8%25D9%2586%25D9%2583%2B%25D8%25A7%25D9%2584%25D9% 2585%25D8%25B1%25D9%2583%25D8%25B2%25D9%258A%2B%25 D8%25A7%25D9%2584%25D8%25B9%25D8%25B1%25D8%25A7%25 D9%2582%25D9%258A%2522%26hl%3Den%26lr%3D%26as_qdr% 3Dd