Thread: Archive Latest News - Dinar Think Tank - 27/08/08 - 15/01/09

Fuad Husain: President Barzani never talked about separating from Iraq

Head of Kurdistan Presidency Divan Fuad Husain, in a statement to al-Fayhaa ********* channel denied the circulated news about the intention of Kurdistan Region President Massud Barzani to separate from Iraq as a result of the suspended issues between the KRG and the Federal government.

Husain clarified that there is confusion in transferring the literal translation of Barzani’s statements which required the website of Kurdistan Region Presidency to issue the full text of the interview in Arabic. He emphasized that Kurdistan Region President never talked at any time about separating from the Iraqi state.

http://pukmedia.com/english/index.ph...=8733&Itemid=1

An official report by: "KBR" shattered Iraqi and U.S. funds

The Inspector-General of the United States for the reconstruction of Iraq to a contract worth 722 million dollars for the rehabilitation of facilities for the production of oil and gas have been many changes, and cost overruns, and failure to meet delivery dates, and the lack of supervision, as quoted by the Washington Post about the latest Washington Post report of the U.S. Inspector General for Iraq's reconstruction.

The contract, which starts from 2004 until 2008, according to the paper recalls, like many of the contracts concluded in the first years of the Iraq war, the overall goal of rebuilding the oil infrastructure in southern Iraq, the use of U.S. funds (562 million dollars) of funds resulting from the sale of Iraqi oil (160 million dollars).

The newspaper pointed out that the Corps of Engineers in the American army and the leadership of the contracts involved in Iraq, "the management contract, which served as the company Rbanh KBR KBR. At the time of the contract, the company is a subsidiary of Halliburton Halliburton ".

The split KBR from Halliburton officially in April 2007 and is currently an independent company.

Stuart Bowen found, the Inspector General for Iraq Reconstruction, that the directors of the contract "is about 30 Ookloa work of the company KBR for its implementation." The report also found, which was launched on Wednesday, orders for work "took longer than planned, and were often subject to adjustment, and costs were increasing over time." The report also noted that the Iraqi government "may not be as appropriate for the maintenance of the facilities re - construction and equipment, which cost hundreds of millions of dollars "and" does not appear that it is committed to the completion of some projects and use. "

There was a contract for the rehabilitation of liquefied natural gas and liquefied petroleum gas in Umm Qasr, was funded by 147 million dollars from the U.S. and Iraqi funds, as the paper says, but the project ended before in gas turbine engines, compressors.

The report found that work orders were "altering the 35 times, and the additional cost amounted to 10 million dollars." Bowen said in his report that the engines "stored in the warehouses did not ride so far." As a result, the report said, the "gas production in the plant without the desired goal, and the proportion of U.S. investment bellowed."

In this regard, said Sen. Susan Collins, the newspaper "The report refers to a series of unusual and disturbing Sue planning, inadequate security, and the failure of the Iraqi government to protect the installations and maintenance." Collins, and has a number of her colleagues in the law last year prohibiting the use of more U.S. money in the draft large Iraqi reconstruction.

The report uncovered several cases of KBR failed either to provide information on the costs or the costs of questionable reports about them. Bowen also bore the Corps of Engineers and the leadership of the joint responsibility of the contract changes to the initial contract officer, who supervised the work, 13 times over a period of three years.

http://74.125.79.113/translate_c?hl=...9no2iSZ8ZEP9Yg

Iraq to receive an invitation to participate in an international conference in Rome

Foreign Ministry received an invitation from the Italian counterpart to participate in the International Conference to be held in Rome early next month.

This call came during the reception, Foreign Minister Hoshyar Zebari in Baghdad, Italian Ambassador Maurizio Melani. Inaqsc Conference and the reform of the United Nations and the enlargement of the Security Council, is expected to be attended by representatives from nearly eighty countries.

http://74.125.79.113/translate_c?hl=...qcB7ZiUSbcQAbA

Iraq: Letter of Intent and Memorandum of Economic and Financial Policies, November 29, 2008

http://www.imf.org/External/NP/LOI/2008/irq/112908.pdf