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

Talabani: discussions are on track for restoring minority representation clause

Iraqi President Jalal Talabani said that all Iraqi political factions agreed to restore article 50 pertaining to the minorities’ rights to the provincial elections law and discussions are on track for that purpose.

The statement came as President Talabani met today with a delegation from the Ezidies community led by their spiritual leader Sheik Tahseen Bag in Sulaimani.

After expressing their delight at the return of President Talabani to Iraq safe and sound, the delegates called on President Talabani to provide them with their needs including seats provision in the provincial councils and public services.

In response, President Talabani reaffirmed his support for their legitimate rights saying they are expected to be transparently enshrined in the expected Kurdistan region constitution.

PUKmedia :: English - Talabani: discussions are on track for restoring minority representation clause

Prime Minister Barzani supports minority representation in Iraqi Provincial Elections Law

Statement by Prime Minister Nechirvan Barzani
Kurdistan Regional Government

The Kurdistan Regional Government Prime Minister Nechirvan Barzani today said that he fully supports the reinstating of an article in the Provincial Election Law guaranteeing that minorities are represented in Iraqi provincial councils.

Prime Minister Barzani said, “We must assure minority constituents that they will have a representation in our government. In a new Iraq, based on principles of federalism, democracy and pluralism, we must not allow smaller groups of citizens to feel alienated or separated. We must always remember that our government should serve its people and exists to protect their rights and promote their welfare. In the Kurdistan Region, we have been vigilant in protecting the interests of all minorities, which is one reason why citizens of all religions and ethnicities live in peace.”

The Prime Minister added, “The guarantee and protection of minority rights is a moral conviction we share with the international community, and should be the standard for all of Iraq. The Provincial Elections Law and all Iraqi laws should strongly reflect, and never contradict, this essential element of democracy.”

Prime Minister Barzani welcomed the Iraqi Presidency's request to parliament that it reinstate a deleted article that guaranteed provincial council seats for minorities. The Iraqi parliament had passed the Iraqi Provincial Elections law but removed from it the article on minority representation. Provincial elections are expected to take place next year.
-KRG-

PUKmedia :: English - Prime Minister Barzani supports minority representation in Iraqi Provincial Elections Law

KRG representatives at UN in New York as part of Iraqi delegation

Kurdistan Regional Government (KRG) representatives this week formed part of the Iraqi delegation to the UN. Members of the delegation attended the 63rd session of the UN General Assembly committee meetings and met with diplomats and UN officials with the support of the Iraqi Mission to the UN.

This is the second time that the KRG has participated in the visiting Iraqi delegation, and comes as part of continued KRG policy to expand international relations and solidify cooperation with the federal Iraqi government in Baghdad as it promotes the democratic, federal, pluralistic nature of the new Iraq.

The KRG delegation is led by Minister Falah Mustafa Bakir, Head of the KRG Department of Foreign Relations, and Minister Dilshad Miran, KRG Representative to Baghdad, in close coordination with Iraq's Ministry of Foreign Affairs and the federal Iraqi government.

Members of the delegation had the chance to observe the working methods and speeches of General Assembly Committees. Mr Bakir spoke before the Second Committee, which concentrates on economic development, on the Committee's third day of work. "We have worked tirelessly to maintain security, encourage development, and promote democracy within our borders while cooperating with the federal government in every manner possible. In terms of achieving prosperity, development and economic growth, this has been a resounding success."

He added, "As economic development is enhanced, so will political reconciliation and a sense of brotherhood among all Iraqis. In our Region, we have implemented such policies under the ambitious guidance of KRG leadership. And we stand ready to share our experience with our brothers across the nation to make Iraq a successful, peaceful, and prosperous nation. This is what we hope for as Iraqis, and we know that the same sentiments are shared by the United Nations and by members of the international community."

Mr Bakir also discussed the value of attracting foreign investment and outlined key strategies that will enable sustainable economic growth, such as improvements in education and infrastructure, better delivery of government services, female empowerment, and human resource development. The enhancement of both social and economic opportunities is a key priority for KRG and federal Iraqi policy-makers.
The KRG delegation was thankful to Iraq's Mission to the UN for supporting their participation with a genuine spirit of fraternity. The presence of KRG representatives as members of the visiting Iraqi delegation demonstrates increased coordination, particularly in promoting international interest in and concern for Iraq.

PUKmedia :: English - KRG representatives at UN in New York as part of Iraqi delegation

Income from Iraq escrow accounts drop, say U.N. Auditors

United Nations auditors have reported that the total income generated by the escrow account for Iraq made up of funds related to the expired oil-for-food programme have dropped by over one third between 2005-2006.

The drop in income was attributed to more than $370 million being transferred to the Development Fund for Iraq, according to the most recent report by the UN Board of Auditors.

The oil-for-food programme, under which a sanctions-bound Iraq was allowed to use monitored oil sales revenue for humanitarian purchases, was phased out in 2003 under a Security Council resolution lifting sanctions on the country.

The Development Fund was set up that same year to administer proceeds from export sales of petroleum, petroleum products, and natural gas.

In their report, the auditors pointed out that “the slow issuance of authentication documents by the Government of Iraq and the protracted cancellation of letters of credit with no claims of delivery continued to hamper the complete liquidation and closure of the oil-for-food programme.”

In August, Secretary-General Ban Ki-moon outlined options for resolving outstanding issues in winding down the scheme, noting that the processing of payment for 132 letters of credit under the programme, with a value of $273 million, remained outstanding.

Income from Iraq escrow accounts drop, say U.N. auditors : Aswat Al Iraq

Finance minister discusses economic relations with U.S. in New York

Iraqi Finance Minister Baqer Jabr al-Zubaidi on Friday discussed with former U.S. Secretary of Treasury John Snow the economic relations between the two countries and the economic situation in Iraq, the media official of the finance ministry said.

“The two officials also discussed the economic development in Iraq and the 2009 budget as well as the investment opportunities in the country which will benefit all Iraqis,” the official told Aswat al-Iraq.

“Al-Zubaidi had arrived in New York on Thursday leading a delegation from his ministry,” he also said, noting that the visit at fostering economic cooperation between the two countries.

Finance minister discusses economic relations with U.S. in New York : Aswat Al Iraq

Iraq announces it expects visit of high-level Swedish delegation in Baghdad

Iraq's Ministry of Water resources Thursday announced it signed a number of agreements with International firms to erect dams in Kurdistan regions.

"The Design department for the Ministry of Water Resources signed a number of agreements with international firms and specialist consultant offices to draft dams and water projects," said a government statement received by Aswat al-Iraq.

"The ministry would install a number of dams and reservoirs for human use over valleys in different parts of Kurdistan region".

The government announcement pointed out the projects would include artificial lakes utilised for tourism.

Iraq announces it expects visit of high-level Swedish delegation in Baghdad

The need for new investment climate and is not an option

Above all, please What of the Iraqi economy?

The transmission of the Iraqi economy and transfer of the ideological chaos of the situation to ensure the appropriate corrective intellectual framework accompanied by appropriate Transitional desired. Supposed to change and numbers of many mechanisms used to force the Iraqi economy and access to the world which, in no small part because it is not simple - and in my view, the modest - most of the change, but the military even tougher to change the political, intellectual wording of these mechanisms necessitating the creation of We are still intellectual climates and even five years after the change has to miss most levels of actors in this area and applied academic and legislative and varying degrees of these deficiencies!!

Therefore, when Itnady Almaniyon of economists and others to talk about investment and placed the investment law for periods as they spring from a stand against this process of change: Is it inevitable or not? Is it the duty in such an early stage, or is or is late on the contrary?

It may be important to say that it (any change) is a necessity of the Iraqi economy is real and actual feasibility of the change process, but the college will not be the same mandate for change but little value for re-drafting the political stage is only!!

Thus, the movement in the area of investment (because it placed the current article) should be off inward-bound variables and all the details of this home: the legislative, technical and institutionally and ...

Thus, the observer of the event economist, specifically in the area of investment, he finds that the rise did not go the same pace slow and timid, once it sees on the contrary, it quickly at other times, and this disparity only under political pressure varied domestic and foreign alike, but that is with the Eitne_m The severity of the need for such a law and requirements of applications and success factors which make the eyes of all international parties are anticipation and fear «often» to the political process and legislative mechanisms work in the new Iraq, and perhaps not new, if we have that Iraq's need and investment institutions specifically to the actor Supportive and frankly more to be a state of institutions controls the economy as the logical course of free and democratic change new group the most substantive in the Iraqi economy recover from the ordeal of dangerous pests and stagnation and marginalization and irrational waste of economic resources national, Batali is still pursuing the suspects course of political events before any other event because he knows First, the legislation does not guarantee any institutional or other words that he would not be there any institutional building unless the political climate necessary to ensure adequate and at the same time.

I say that I'm addresses and news interviews with Iraqi decision-makers parties Mhaoliyn attract international investment and investors and this is really important but not sufficient, as the practice of sports supporters say that the economy is a necessary but not sufficient, without state institutions will not see a particular investor, whatever the Identity made to invest in Iraq, and I also confirm this forum and we are also without a sophisticated system of Dealer's performance and thought and Tguennip Looking toward the goals of a more serious and realistic that we can not get down state institutions to develop the economy of investment one of the most important economic priorities now and in the future.

Iraq needs to rise up to the level of banking revolution Fayalspl Thus, the many demands for the advancement of the Iraqi Balaqsad and openness to the world, which is imperative in this alone, it now requires all parties to reassuring the flow of capital and thus smooth the financial and monetary investment process, which must Ensure the legal systems of care and a series of laws and legislation supporting.

Marshall said the new tickle the imagination of everyone and emerged Besoraadp of the Covenant and the international donor conferences and other can not succeed and the Iraqi interior living under the yoke of this failure in performance and institutional the intellectual look.

Gentlemen, we have a lot to do and what has been done is less than a few specifically designed and investment, so the network is all the investment needs can not be an integral of the Iraqi economy to pick up without it.

And a long Nkrallowaqa factors lead to the first of the Iraqi economy and signal the sharing and Majerth waste economic capital Alvkriaeraki and the corruption that has rendered the pace of sharing the intellectual base to strike at Iraq's violent led to miss the most important investment opportunities, which is occupied by human capital, which To the rule of the types of outlets in poor economic life of this presence enhanced emergency and illogical and illegal practices of a series of corruption and waste that still swallow swallowed billions of Iraqi funds, which are the right of every Iraqi individual, because it is simply a right guaranteed by the new Constitution in the light of the new Iraq.

And the talk is emotional and has the rest of God.

Translated version of http://www.almadapaper.com/paper.php?source=akbar&page=107

A free market between Kurdistan and Iran

Opened in crossing Pervez Khan Near the towns of Kalar and Khanaqin to check the status of agricultural products entering Iran's Kurdistan province of the vital crossing, and held at the same crossing today a free market for goods moving between the Kurdistan region, Iran and cooperation between the Department of Ckramaan of the provincial government and administration of the town of Qasr-e-Shirin in the province of Iranian Kurdish Kermasan , And Iranian workers will be able to buy goods and transfer of the territory to Iran, or vice versa, provided not to bring in trucks or cars pregnancy to the market, because the market system allows the transfer of Mtdain what they can carry only light cargo and goods as the government of the province of those goods exempt from customs duties. It should be pointed out that 600 trucks loaded with goods crossing the Iranian passing day About the Kurdistan region and vice versa

Translated version of http://almalafpress.net/index.php?m=39

Differing views on the economic impact of the global crisis on the Iraqi economy

Divergent views on the economic impact of the global economic crisis that hit the U.S. market and spread to European and Gulf markets on the Iraqi economy. The S.a.t.e.llite TV channel that some said they would not directly affect the Iraqi economy as a global closed transactions, while others assert that their effects will be directly on the budget next year. On the other hand, the shipping agent that Iraq had halted earlier in oil exports Through the northern pipeline to Turkey extended, without knowing the reasons.

Translated version of http://almalafpress.net/index.php?m=39

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Economy

The only place unaffected by financial turmoil: Iraq
Fear and uncertainty were hot commodities in global markets Monday.
By David Goldstein
07 October 2008 (McClatchy Newspapers)
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Stocks plummeted and currencies fell as shock waves from the Wall Street meltdown continued to reverberate across financial capitals.

The Mexican peso plunged to its lowest level in years. Its stock market dropped 5.4 percent.

Brazil and Russia temporarily halted trading after a series of steep drops on their exchanges.

Meanwhile, Sweden, Denmark and Austria joined Ireland and Germany on a growing list of European countries that have pledged to guarantee bank deposits to tamp down consumer worries.

"This is a stampede," said Valerie Plagnol, chief strategist at CM-CIC Securities in Paris.

On the very day that Washington began to unfold the $700 billion economic rescue mission, foreign governments and investors seemed resigned to a long period of tight credit and turmoil.

Russia suspended its benchmark RTS stock index twice on Monday, as it fell 19.1 percent, its worst ever one-day drop. It had already halted trading three times last Friday, hoping to slow sliding shares and capping the market's worst week in nearly a decade.

Russia on Monday also shut down its second major market, the Micex, three times. It had fallen nearly 19 percent.

The global credit crunch has compounded Russia's financial woes. It's already reeling from the one-two punch of falling oil prices and the loss of billions in foreign investment after the August war with Georgia.

In Latin America, the U.S. financial crisis caused trading on Brazil's stock exchange to be halted twice on a day when the value dropped by 8 percent.

In Argentina, stocks fell 10 percent, and currencies across the region tumbled against the dollar.

"The turmoil is really starting to hit Latin America," Jane Eddy, a senior regional specialist for ratings agency Standard & Poor's. "You have stock market drops, currencies weakening and credit really drying up. Everyone is on hold waiting to see what will happen over the next two weeks."

The uncertainty comes at a time when Latin America has been enjoying its strongest sustained economic growth in 25 years. The region grew by 5.7 percent in 2007 and was projected to grow by about 4.5 percent in 2008.

Thomaz Teixeira, a stock analyst at Socopa Corretora in Sao Paulo, said investors were not necessarily in a "panic."

"But they're selling for the sake of selling at whatever price," he said. "In time, though, we believe that the market will heal."

In South Africa, the stock market hit its lowest mark in more than eight years. Banks in Zimbabwe ran out of cash after depositors tried to pull out their money.

In Pakistan, already embattled on the political front, the rupee hit a new low against the dollar. With its currency having lost 21 percent of its value already this year, Standard & Poor's warned that the country was close to bankruptcy.

Next door, in India, stocks fell nearly 5.8 percent, the lowest close in two years. The index has shed more than 42 percent of its value this year, with foreign investors leading the retreat.

In response, the capital market regulator lifted curbs Monday on overseas investors to halt record sales by offshore funds.

In the Middle East, Kuwait pumped $374.3 million into the banking systems Monday and Saudi Arabia injected more $26 million into its stock market, local newspapers reported.

Apparently immune to all the turbulence was Iraq. The government has little if any investments in the institutions affected by the crisis and a barely functioning stock market. Most Iraqis keep their money in their homes rather than trust banks.

"We don't believe it will affect our bank balance," said Minister of Industry Fawzi Hariri. "In the short term we'll be one of the least affected nations."

The Iraqi government has more than $25 billion in cash reserves. Even with oil prices dropping below $90 a barrel, the Iraqis forecast oil revenues to be in the neighborhood of $80 billion.


Maceman