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

Originally Posted by Seaview

Iraq’s 2009 Budget to hit $78 Billion

Iraq’s 2009 budget will hit more than $78 billion, the Finance Ministry said.

A ministry statement sent to the newspaper said the figure relies on an average of $80 for a barrel of oil and a daily export rate of two million barrels.

While oil prices have been generally higher than the projected price, output has generally been below the two million barrel a day.

Nonetheless, the budget will be unprecedented in the country’s history, giving the government a rare chance to rehabilitate the country’s rickety infrastructure.

But despite soaring oil revenues and massive influx of foreign aid particularly from the United States, the country’s economic woes have been worsening.

The ministry has allocated some $60 billion for operational expenditures and $18 billion for investment purposes, said the statement.

The oil sector will get $2.5 billion to sustain and boost production.

The power sector, one of the most dilapidated in the country, will get $2.4 billion.

Allocations have been made for each of the country’s ministries and the Kurdish regional government in the north to which up to 17% of the country’s hard cash revenues are earmarked.

http://www.azzaman.com/english/index.asp?fname=news\2008-09-20\kurd.htm

Update......

Cabinet discusses $79b. state budget

cabinet is discussing Iraq's state budget for the year 2009, estimated at a total of $ 79 billion, according to a statement by the National Information Center on Monday.

"The cabinet discussed on Sunday the federal state budget of Iraq for the year 2009, which hit a record $ 79 billion," read the statement as received by Aswat al-Iraq – Voices of Iraq – (VOI).

"The cabinet approved the pricing of dates purchasing from Iraqi farmers for 400,000 Iraqi dinars per ton and increase the ceiling of allocations for the transport ministry from $ 30 million to $ 50 million," it noted.

It also approved the merger of the general company for transport of groups into the general company for transport of passengers for their similar activities.

http://www.aswataliraq.info/look/eng...=2&NrSection=2

President Barzani: Attempts of undermining Kurdish role in new Iraq will fail

Kurdistan region President Massud Barzani highlighted during an interview with the correspondent of the Kurdish section at the VOA Radio, the recent crisis between the Federal government and the Kurdistan Regional Government (KRG), the constitution and the attempts of undermining the role of the Kurds in the New Iraq.

President Barzani related the reasons of that to the different understanding of the constitution and the issue of participation in the authority. He said “The current mentality in Baghdad still believes the need of a central totalitarian rule like that of the past” referring that the constitution underlines the duties of all parties. He added that the problem is within those who do not commit to the constitution.

President Barzani also pointed out the attempts of undermining the Kurdish role saying “These attempts will not succeed and are going to fail.”

He talked about the recent visit of the U.S embassy delegation headed by Ambassador Ryan Croker to Kurdistan region. He said that they support the implementation of Article 140.

Barzani considered that the Iraqi army is the army of all Iraq and should not be used once more to curb the people, he emphasized that the army should stay out of the political conflict.

Regarding the relations between Kurdistan region and the neighbouring states, Barzani added “We will be glad to have good and normal relations with them. They should not decide on behalf of the people of Iraq or interfere in the Iraqi affairs.”

PUKmedia :: English - President Barzani: Attempts of undermining Kurdish role in new Iraq will fail

Turkey submits new mandate for N. Iraq to Parliament

The proposal for a one-year extension of the authorization for cross-border operations in northern Iraq was submitted to parliament, Turkish TV channels reported on Monday.

The validity of the current motion will expire Oct. 17.

Turkey, provided with intelligence by the United States, has stepped up military action against the outlawed separatist PKK since December. Turkey has been carrying out several air strikes and a week-long ground incursion into northern Iraq in February, where more than 2,000 PKK terrorists take refuge.

The PKK is listed as a terrorist group by much of the international community including the United States and the EU.

PUKmedia :: English - Turkey submits new mandate for N. Iraq to parliament

Al-Hassani: All Oil Contracts signed after 2007 are Illegal

He said al-Hassani told (News): Company (TM O (which was contracted by the Government of the Kurdistan region for the production of oil and investment region of Kurdistan said it produced the equivalent per day (110,200) thousand barrels of oil a day.

Adding that the company had given them Shares of the largest area and the amount, given its fields and the western province of Dohuk, Arbil province as well.

And a member Iraqi Alliance: This evidence of mass production, and this increases the production of oil requires special handling because oil is an important article in the Iraqi economy, and we have to be modified law Federal and ensures all the Iraqi people want to ensure that article 111 of the Constitution, the oil and gas belongs to the Iraqi people and they should be distributed equally and with respect to elections Allieu Hassani said: There is a good breakthrough by the parties with divergent views on the subject of equal quotas.

He said: that Is the only guarantor (the law) for each different parties, particularly the elections that will determine the merit of power in the province. Hassani said: that the issue of security in the province of Kirkuk is the prerogative of the Federal Government shall find a way out legal and constitutional and that it is the duty of parliamentarians to Ihsmoh

http://66.102.9.104/translate_c?hl=e...I7VWLFNJZxRwHg

Iraq’s Parliament session delayed for lack of quorum

Today’s session of the Iraqi parliament was delayed for a lack of quorum, speaker of the Iraqi parliament, Mahmoud Mashhadani said.

According to Sami Atrushi, an Iraqi lawmaker from Islamic Union of Kurdistan bloc, some Iraqi lawmakers did not attend the session because they were observing the anniversary of the martyring of Imam Ali. The parliament was expected to discuss disputes over the provincial elections law which vetoed by the Iraqi presidency and question the Iraqi trade minister Abdul Falah al-Sudani about financial corruption.

PUKmedia :: English - Iraq’s parliament session delayed for lack of quorum

Dollar demand up at CBI Auction

Demand for the dollar was higher in the Central Bank of Iraq (CBI) auction on Monday, registering at $ 132.640 million compared to $ 60.660 million the last session.

"The demand hit $16.80 million in cash and $116.560 million in foreign transfers outside the country, all covered by the bank at a stable exchange rate of 1,179 Iraqi dinars per dollar, one tick lower than yesterday," an official source from the bank told Aswat al-Iraq – Voices of Iraq – (VOI).

None of the 13 banks that participated in the session offered to sell dollars.

The Central Bank of Iraq runs a daily auction from Sunday to Thursday.

Aswat Aliraq

Kurdish bloc spokesman denies allegation by some Iraqi MPs

Firyad Rawanduzi, the spokesman of the Kurdistan Alliance bloc in the Iraqi parliament, denied the allegations made by a group of Iraqi MPs so-called “The July 22th Group” that the Kurdistani bloc rejects the role of the federal government in providing requirements for succeeding the elections in Kirkuk, describing the allegations as false and unfounded.

“The Kurdistan Alliance bloc agreed that the federal government should play a key role in providing requirements for succeeding the elections in Kirkuk in cooperation with KRG. Considering Kirkuk as a disputed area, we believe that joint cooperation is necessary to bring about an atmosphere and a suitable situation for succeeding the elections in Kirkuk.

Concerning the sensitivity by some Iraqi MPs about the word “Kurdistan”, Rawanduzi said: “There are some Iraqi MPs who are sensitive about the word Kurdistan for the time being while the former Iraqi President Saddam Hussein used it without any sensitivity. We do not welcome any sensitivity about the word because KRG is a recognized government according to the constitution".

PUKmedia :: English - Kurdish bloc spokesman denies allegation by some Iraqi MPs

Zebari: The United States had made "enormous concessions" on the Security Agreement

"Foreign Minister Hoshyar Zebari on Monday, the United States made" enormous concessions "to reach a security agreement with Iraq, noting that the two sides have not yet reached a final solution to the signing of the Convention.

Zebari said in an exclusive broadcast by Al Arabiya ********** late today, Monday, that "negotiations between the Iraqi and the American Convention on security are still ongoing, but we have not reached agreement yet because there are some problems." , Describing the United States as a "made concessions and shown tremendous flexibility to reach an agreement guaranteeing the rights of the parties."

Zebari added that "in case of failure of the Convention, and this is, the alternative would be to return to the UN Security Council and calling for an extension of Iraq under Chapter VII of the United Nations mandate in Iraq."

The Director of the Department of Political Military Affairs at the U.S. embassy in Baghdad said today, Monday, l (Voices of Iraq), said that Iraqi and U.S. teams continue in their negotiations on the long-term bilateral agreement between the two countries and discuss key points of presence and operation of U.S. forces in Iraq and the mechanism for mutual cooperation with Iraqi forces.

Negotiations are currently underway between Iraq and the United States for a long-term security agreement governing the presence of U.S. forces in Iraq.

After 2008, as its presence is dependent on authorization from the United Nations Ijaddedand the end of each year the request of the Iraqi government.

http://www.aswataliraq.info/look/art...=1&NrSection=1

International Monetary Iraq lends more than 746 million dollars

follow-up morning
The International Monetary Fund agreed to lend Iraq amount of 746 million and 300 thousand dollars. The IMF said in a statement: "The economic prospects for Iraq are improving"

He pointed out that "the improvement in security conditions contribute to high oil production and exports while diminishing inflation rates."

The Fund agreed on "a first review of the performance of the Fund's program of lending to Iraq was over $ 746 million and 300 thousand dollars, by the commitment of the Iraqi authorities to a large extent agreed economic targets in spite of its failure to achieve targets related to bill pay and pensions."

He said that further economic progress depends on further improvement of security conditions in Iraq and the safety management of oil revenues and take reform measures.

Said Takatoshi Kato, Deputy Managing Director of the International Monetary Fund in the statement: that after several years of very difficult, the economic prospects of Iraq began to improve, as authorities continue to implement its economic program in 2008.

He added that the increase in the wages of civil servants will be implemented gradually over the Commoner 2008 and 2009 to avoid causing a very rapid growth of the economy.

http://translate.google.co.uk/transl...hl=en&ie=UTF-8

Six major countries compete for investment in the country

Investment Authority revealed as the competition six major countries for the implementation of giant investment projects in the country. The list of competition by the head of the Ahmed Reza, "The United States, Britain, France and the United Arab Emirates and Saudi Arabia,"

There is the wish of other countries to initiate projects in Iraq. He told a news briefing that "Iraq is now open to investment," pointing out that "we have 74 billion dollars of foreign direct investment during the past six months." He stressed that "the amounts of the budget allocated for the development of airport The city of Basra, and the other for the development of Baghdad International Airport, in addition to the amounts spent to develop the holy city of Najaf, he said, pointing to the existence of a project to build a tourist city in the city of Kut. "The head of the Tourism Authority Hamoud Yacoubi said in a news conference yesterday, a plan to revive the tourist island of Weddings .

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