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

Iraqi Parliament passes Provincial Elections Law

Iraqi Parliament passed the Provincial Elections Law in its session today, after vetoing it by the presidency council.In a private statement to PUKmedia website correspondent, MP Ezz El-Din Dawla said “today’s parliament session witnessed passing the provincial elections law was unanimously voted.”

In a press conference before the session, MP Bahaa al-Aaraji from the Sadrist bloc said “the parliamentarian blocs reached a consensus solution about the provincial elections law according to the paperworks of UN. The blocs will enter the session with unified and consensus paperwork.”

http://pukmedia.com/english/index.ph...=6648&Itemid=1

Parliament set the end of January as a date for local elections

The House of Representatives the end of January next year the date for local elections in the country.

The deputy said Huani Khalid on the Kurdistan Alliance, told the independent press (Iba): "The parliament session today, 31 / January 2009 date for provincial elections.

The House voted unanimously to Iraqi provincial elections law, which is scheduled Ajeriha early next year after a long debate lasted for months between the political blocs in the Iraqi Council of Representatives.

Translated version of http://www.ipairaq.com/inner.php?name=politics&id=4339

Swedish Foreign Minister to visit Baghdad soon to open his country's embassy in Iraq

The visiting Swedish Foreign Minister Carl Bildat Baghdad soon to open his country's embassy in Iraq. Bildat the visit came during talks held in Stockholm, Iraq's Ambassador Ahmed Bamarni Frank Belfrak Minister of State for Foreign Affairs of Sweden.

According to a Foreign Ministry statement received a copy of NOAA, the two sides discussed security developments and the political process and the process of construction and reconstruction in Iraq. The two sides discussed future steps between Iraq and Sweden, especially after the successful visit of Prime Minister Nuri al-Maliki and his accompanying delegation to Sweden last April.

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Adoption of the Electoral Law a victory for the unity of Iraq

The Iraqi List MP Osama Najifi agreement on the elections law was made after much effort and political consensus and completed the trip to article 24 a balance between the components of Kirkuk and ensure the survival of what it is.

Najifi said in a statement addressed to the Tigris Radio today, Wednesday, the approval of provincial elections law was a victory for the unity of Iraq.

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Jaafari: International pressure exerted on Maliki government to pass Security Agreement

Called on former Prime Minister Ibrahim al-Jaafari, Iraqi political forces to support the Iraqi government in the security agreement between Baghdad and Washington, the fact that some foreign parties put pressure on the Iraqi government to sign it.

Jaafari said the independent press agency (Iba): "Some countries put pressure on the Iraqi government to pass a security agreement, stressing the need to leave the Iraqi government expresses the will of the Iraqi people during the negotiations of the Convention security with the United States without any pressure.

Jaafari said that everyone is looking forward to not to be involved in any security agreement with the countries of the world, he said, adding: "We need to give international and regional security in order to reach self-sufficiency.

He explained: "We are now dealing with foreign forces on the basis of the support of the United Nations and Security Council resolutions that Iraq has benefited from the presence of international security forces under the umbrella of the United Nations without a security agreement associated with any State of the State.

The move to the United Nations under the tent and we want to keep Iraq under the UN tent, indicating that the decision of the 1546 Security Council resolution explicitly.

Jaafari called for the use of professional standards in the selection of people Alkoviin, trained and equipped art as possible, stressing that no country without an army, and there is no army without weapons, indicating that it does not mean we want the army to attack neighboring countries, but we want to prevent military attacks on foreign Iraq.

As well as dealing with private security companies and working conditions in Iraq, Jaafari He explained that he could be contracted security companies from any country provided that it was committed to the security and sovereignty of Iraq and caring citizens, more than one.

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Opinion piece

Iraqi Dinar

Many seminars and economic groupings organized to study the reality of the Iraqi dinar and ways to return to his true value and the low exchange rate of Iraqi dinar great imbalance at the level of prices and concern because of price stability within the Iraqi market.

To emerge from this crisis plaguing the Iraqi dinar went in different directions some opinions economic dollarization of the Iraqi economy and they see that this step is the best solution under the current circumstances to ensure the future of the dinar to be the adoption of this step is limited .. Not exceeding one year at best, suggesting that this solution carries with it the protection of the dinar from the consequences of speculation that adversely affect the real value of the dinar, which was during my contract seventies and the eighties of the last century.

The idea that seek to link the interim Iraqi dinar to the U.S. dollar as Dinaraeraki the current crisis.

I went with other views that the Iraqi economy today is a transition towards a free market economy, which means most public institutions turning to the private sector except for strategic industries such as oil for example .. In this case the value of Iraqi dinar will be subject to the actual impact of supply and demand as well as a fiscal policy of the State.

Some economists expect revenues to increase Iraq's long-term spending beyond the stage and expenses Iraqi and this will lead to sustained high (cumulative) in assets and reserves of foreign exchange as well as the effects of factors on the open market exchange rate of dinar.

And see to see the Iraqi currency long-term prosperity and revival of anti-preferential compared with the currencies of the Gulf States for example.

So find consensus interested to study and revive the reality of the Iraqi currency by several proposals dealing with problems of the dinar and supporting ways to increase value in this way.

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

Source in Iraqi Central Bank increased reaffirming its resolution to recapitalize the banks of civil

Iraq's central bank denied, the most common on the rescinding of the decision to increase the capital banks eligibility to about 41.6 million dollars during the period of maximum on 31 December this year

The head of the banking and credit control in the bank and the bank agency Idi Walid Abdul-Nabi "The Bank continues to give its banks until the end of eligibility this year to increase capital to 41.6 million dollars," noting that some of the banks capacity "has already made their requests in this regard ". Abdel Nabi added that requests for such banks," referred to the Advisory Committee with Bmutalat specialists, all factors taken into consideration, "but it was" the right final decision has been taken yet. "

The Financial specialists preferred anonymity, had called in interviews to "give some banks eligibility may be able to raise sufficient resources to complete the required increase in capital, including the Middle East banks and investment, and more time in order to allow for the implementation of the resolution in the first half of Next year.

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Shell becomes first International Oil Firm to open Baghdad office since '70s

Royal Dutch Shell PLC opened an office Monday in Iraq, the first major oil and gas firm to set up a new operation here since the industry was nationalized in the 1970s. Iraq has some of the largest proven crude-oil reserves in the world, and other firms are expected to follow suit.

The announcement followed the signing of an accord between Shell and the state-run Southern Oil Co. establishing a partnership to recover and market billions of dollars' worth of natural gas that's now being flared off.

Earlier this month, the Iraqi parliament approved the plan giving Southern Oil a 51 percent stake and Shell 49 percent in the project.

"Today I inaugurated the Baghdad office," said Linda Cook, an E.x.e.cutive director with Royal Dutch Shell PLC. "It's a milestone for Shell." Shell officials wouldn't disclose where the office is, but said the company would continue to expand its presence in Iraq.
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A staggering 700 million standard cubic feet of natural gas currently is wasted daily in southern Iraq. The new deal would set up infrastructure to produce liquefied petroleum gas, natural gas liquids and a natural gas supply for domestic use and export.

Western oil firms were kicked out of Iraq when the oil industry was nationalized in 1972.

"Iraq should not be isolated from the world, and we should have contracts with any international company we want . . . because (restoring ties with) Iraq is the aim of all the international oil companies," said Dr. Abdul Jabbar al Hilfi, the head of the energy studies department at the Center for Arab Gulf Studies, in Baghdad.

McClatchy Washington Bureau | 09/22/2008 | Shell becomes first international oil firm to open Baghdad office since '70s

Protestors in Kirkuk call for resignation of Iraqi minister of electricity

Employees in the offices of the electricity sector of Kirkuk province on Wednesday held a peaceful demonstration in front of the Directorate of Electricity Distribution in Kirkuk, demanding the resignation of the Iraqi Minister of Electricity Dr. Karim Wahid because of the spread of administrative and financial corruptions inside the ministry, the deterioration of electricity sector and electrical systems.

The demonstrators carried slogans that called for guaranteeing the rights of martyr workers in temporary staffing, appointing those workers who are working in contracts and other demands in addition to raising a note of protest to the Iraqi federal government to consider their demands.

PUKmedia :: English - Protestors in Kirkuk call for resignation of Iraqi minister of electricity

The financial crisis of America and the Iraqi economy

There are interested in assurances by the economic effects on the financial crisis afflicting the United States in fact the Iraqi economy .. Concern was accompanied by the Minister of Planning, where he stressed the necessity to take into account any side effects could lead to lower oil prices as the effects of the financial crisis had not been reflected so far on the Iraqi economy, but perhaps repercussions will come from new opportunities dealers crisis .. Between assurances and the status of caution, there are indications of a realistic point to the need to anticipate the likely effects of the situation, which can withdraw the financial crisis on the U.S. national economy ..

The crisis came against the backdrop of the bank (Lehman Brothers) bankruptcy after failed efforts to save him - and Lehman Brothers - the fourth bank in the United States in terms of banking performance, and the declaration of bankruptcy caused a financial crisis hit the American economy, which affects and is affected by the global economic system, and in any case, Iraq's economy is linked to the work of this system as that in the least oil exporter and importer of all its goods ..

It is unlikely to withdraw the repercussions of such crisis on the oil markets or markets of food and basic goods .. Which would mean the withdrawal of its impact on the reality of the Iraqi economy .. The magnitude of the crisis as large, some have likened to the situation of the Great Depression that hit the global economy at the end of twenties and early thirties of the last century ..

True that Iraq will remain limited in the dollar, and that historical legacy was dictated by previous conflicts and wars, then the UN Security Council resolution No. 1483 in March 2003, which will remain in force until the end of this year, and this tendency to make Iraq the dollar exclusively and will be moved by the dollar crisis and an end Experts described the neutral (as we export oil and import dollar also our dollar), but that does not mean that Iraq will remain unpunished crisis in the United States, 100%, yes - the turnover in the management of reserves may be made through the Development Fund protected within the central bank system U.S. government guarantees and international supervision

Moreover, there is a presidential order in the United States protects Iraqi Central Bank as a financial agent of the State in the management of Iraqi funds from any prosecution, Valtrqub and fear does not come from this side .. Because this is related to fluctuations in world prices of basic commodities and foodstuffs, and this volatility withdraw usually the entire national market, and the Iraqi market by the continued soft market in the productive sectors of the vulnerability of domestic and continued reliance on imports, which would mean an inevitable impact on the withdrawal of the Iraqi citizen first, because of the high ( Consumer prices) and then on the national economy with the situation of the continuing decline in oil prices.

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