Thread: Archive - Latest News Think Tank - 15/01/09 - 04/05/09

Promotion of private sector & development of financial policy..ways to avoid effects of declining world oil prices

Many economists predicted that the Iraqi economy will face a difficult circumstance in the coming years, the result of the decline in world oil prices and the decline in the price of a barrel to less than $ 40, and must be a financial policy that fit with the reality of the situation and economic policies governing the creation of a common requirement of the provinces and ministries, the distribution of funds in an orderly and strategic aims to serve the whole Iraqi economy and in order to shed light on this issue, we held this survey.

Economic expert Dr. Abbas al-Tamimi said: who is not a defect of-the moment, Oil is the cornerstone of the Iraqi economy and the government has initiated a number of laws to regulate the economy and all interested in the economic aspect, we note that the development of other sectors, agriculture and trade for example, has suffered neglect since the forties and even now, even if interest for the good of the bill for the oil sector, which is suffering now and that is the reason for the volatility in the Iraqi economy and the price of oil reached 34 dollars a barrel, and I think it would be between 30-40 dollars and the Iraqi government and economic controls have been put to the Iraqi budget for 2009 on the basis of the price of 62 dollars a barrel and many expect that the This decline will continue for almost one year and half or more.

Economic Information Sultan of Al-Jabbar (Bgdadna) says: We have to re-examine many of the things to create an economic balance and to avoid strong winds of this crisis, including the financial allocations to be allocated to many officials because the high award was not commensurate with the magnitude of the crisis and because the salary in accordance with established Previous measures and controls and statistics say that the amount of the budget goes to the operational purposes, including the salaries of staff of the two thousand and four hundred million employees and retirees as well as to the network of social protection and other services and the ration card and there is an important point in the matter and has to be a deliberate balance between operating and investment must be investment a measured way and specific directions.

Engineer Ali Abdul Murad said: the Iraqi economy has not evolved over the past five years because of the crises and unstable security situation did not move to any other sectors and is left at the altar of oil and therefore the development of other sectors of the moment and can not develop overnight, so quickly because it is needs for many years and, unfortunately, Iraq has not benefited from the continued increases in oil prices earlier and thus results in the decline, which affected the whole world, and we have an independent Central Bank of Iraq must be made to take advantage of the benefits to be derived from the proceeds of the country's different .. And we need to move in monetary policy and the fight inflation because inflation Bosattha arrived in Iraq earlier to 66% in 2006 .. The interest rates must be reasonable that is now 16 or 15% rate is high, such as Iraq.

Anaam six return economy Master said: "We need to free economy and give the economy a distinct role, we note that monetary policy is towards the withdrawal of funds and liquidity of the market and this affects negatively and thus to prevent the escape of investors and the presence of investments in the country and must be the independence of the Central Bank of Iraq fit with the facts of Iraq and the Iraqi economy, which needs to be developing a combination of fiscal and monetary policy to get positive results, and resolve crises.

Professor Salim Farhan al-Hashemi .. Economic researcher said: the Iraqi state are budgeted according to the price of a barrel estimated at $ 62 and now after the decline of oil prices is necessary to consider the matter in line with the current situation, because the price is less than $ 40 a barrel and even the cost of production of a barrel in Iraq more than the cost of production in other places such as the Gulf of Mexico or Brazil, the ministries and other provinces to determine their requests in accordance with these new changes and we need a new monetary policy developed because of this crisis may increase and may evolve and affect all of life, including joints with dire consequences which is the product of the international financial crisis which has affected in real estate prices in the banks, then the cars and even the Securities and treatment difficult in developed countries, how weak the case in the States?

Proposals
And we see these proposals at the end of this poll:
Must encourage the private sector and that of economic reform with the International Monetary Fund to take advantage of the economic returns and save the future of the economy.
Reform of the banking sector which is suffering a lot and encourage the private banking sector and isnaad.
Coordination between the provincial and central government resources and people in the exchange.
Encouraging foreign investments in Iraq.
Encouraging other sectors to flourish for example, agricultural, transportation and trade.
Reducing and combating the smuggling of currency and the development of laws preventing that.

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Direct the implementation of four projects, at a cost of 9 billion in Baghdad

Baghdad Secretariat began implementing four projects to develop roads in the area of the cost of almost 9 billion dinars.

A statement by the secretariat of Baghdad, received a copy of the Tigris Radio on Tuesday that the strength began to develop the work of street paving refinery docks P.almqrnsat color and the replacement of the old stereotypes affected side at a cost of (1,236) billion dinars and the roof of a timetable (75) days.

The statement noted that the Secretariat has also implemented the development of health and rehabilitation of street, where the work includes asphalt, Oxaih elevation Mnholat sewage and paving P.almqrnsat coral color and the replacement cost of the template side (3,968) billion dinars and the roof of a timetable (90) days.

The statement added that the development also included the development of the direct cost of ministries Street (2,219) billion dinars, in addition to the completion of preparations for direct Backsa asphalt, street refineries double superficial and adjusting.

The secretariat of Baghdad has launched a major campaign for the apparel and the development of the streets of the capital Baghdad, involving about a hundred a main street and a residential locality of 126 per sector in order to improve roads and to facilitate the smooth flow of traffic and traffic.

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Iraq issued the first post-Saddam bonds valued at five billion dollars

Said Finance Minister Bayan Jabr said on Wednesday that his country would soon be issued the first government bonds since the collapse of the rule of former President Saddam Hussein, a value of approximately five billion dollars. Jabor said at a banking conference in Baghdad that Iraq would be issued soon, government treasury bonds for the first time, worth about five billion dollars

He said these bonds would include the Government of Iraq through the huge assets owned by Iraq, amounting to tens of billions of dollars of reserves in the end it is not crude oil, gas and promising Iraqi economy.

He gave no specific time-frame for the issuance of bonds.

Iraq, which has given all the revenues from oil exports in the budget surplus in 2008, when oil prices were high, but is facing a deficit in 2009 despite his plans to amend the spending down to 62 billion dollars from $ 80 with a retreat in oil prices.

In spite of about 66 billion dollars of debt owed by Iraq under Saddam had been canceled by creditors, Baghdad continued to be a city of billions of its Arab neighbors

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Talabani: Hillary Clinton stressed Washington's commitment to withdraw & the Framework Conventions

Back President Jalal Talabani, provincial elections an "important step" in the course of the political process, at a time Talabani welcomed the signing of the expanded partnership with Japan, said that U.S. Secretary of State Hillary Clinton confirmed His administration's commitment to support Obama in all areas of Baghdad, and the withdrawal and the Framework Conventions."

The President of the Republic during his meeting yesterday, the U.S. ambassador to Iraq, Ryan Crocker, said the elections to pass the evidence Iraq was one of the main stages of the process towards the consolidation of democracy and addressing the outstanding problems and achieve comprehensive national reconciliation, according to a presidential statement Manglh it has received a "morning," a copy of it. In the meantime, the President of the Republic during his meeting with Japanese high-level delegation to the aspiration of Iraq to strengthen bilateral relations with Japan, referring to the meeting with former Japanese Prime Minister Taro Aso, during which they emphasized the importance of friendship and cooperation between Iraq and Japan, two countries were keen on joint deepen the democratic experience. For his part, said the special envoy of Japanese Prime Minister Shinzo Abe to announce the partnership, Iraq - Japan, which has been signed with the Deputy Prime Minister Barham Ahmad Salih, adding that the partnership relations have entered Iraq - including a new Japanese joint cooperation and provide the necessary assistance for Iraq through the rebuilding infrastructure and providing various training courses and the expansion of economic relations.

The Barham Saleh and his father had signed a partnership agreement on the joint between Iraq and Japan. The head of the Japanese delegation expressed hope that the contribution of his country in various reconstruction projects in Iraq, especially following the improvement of the security situation, stressing that this is the impression that Japan is also the private sector, indicating at the same time that the organization "JICA" Japan International Cooperation with offices in Baghdad and Erbil. For his part, President of the Republic's declaration of partnership between Iraq and Japan opened a new page of relations is in the interest of the peoples of the two countries, saying "you through the provision of aid to the Iraqis and their hearts Kspettm Kspettm a strong friendship with one of the mission in the Middle East." He pointed out that "Iraq is strong, people and resources and can play a prominent role in the Middle East and spread peace and democracy", he said, adding that the enhancement of security and unity of Iraq and the strengthening of democracy and national reconciliation, the consolidation of stability and can pass the difficult stages. Talabani noted the importance of campaigning for the provincial assemblies, saying that the Iraqis are now engaged in a heated election campaign, and the evidence of their attachment to democracy.
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Millions of Iraqis to participate in a wedding, a new democracy

Is the day after millions of Iraqis went to the polls Saturday in a wedding, a new, democratic, to elect their representatives on the boards of the provinces and districts and areas. The cities of the country except for all the provinces of Kurdistan region And Kirkuk yesterday, the "special voting" in a positive atmosphere marked by Palansapep and unprecedented turnout. The election is the fourth provincial councils after the elections of the National Assembly and local governments, and to vote on the constitution in October 15, 2005, and the House of Representatives election, which paved the way for the emergence of the first national unity government headed by Mr. Nuri al-Maliki. The large number of citizens met "morning" in the past few days their intention to participate in the elections, the poll showed "morning" that a majority of Iraqis will participate in the elections heavily. He called a large number of political leaders, members of parliament and the clergy and religious authorities, citizens to go to the polls on Saturday and the selection of qualified candidates and the faithful. He was general manager of operations at the Interior Ministry Major General Abdel Karim Khalaf said that the security forces entered a state of alert by 100 percent since yesterday, although the security service for the elections went into effect, with The Undersecretary of the Ministry of Interior forces for retaining the border forces mobilized all its forces and has spread along the Iraqi border in the framework of the security plan. closed polling stations that have been identified for special voting closed at five o'clock yesterday afternoon, amid an atmosphere described by the officials and organizers of the process took place smoothly as a high - The unprecedented turnout, with the continuation of preparations and procedures in full swing to ensure the success of the general elections for provincial councils, which will be held on Saturday, with the expectations of the broad participation of some 15 million citizens eligible to vote in Baghdad and the provinces, as confirmed by sources in the Independent Electoral Commission.

And a variety of regulatory agencies involved to monitor the voting process on the observers of the Office and civil society organizations and observers of the political entities, in addition to the regulatory authorities in the security itself. A member of the Board of Commissioners, Saad al-Rawi told a news conference yesterday, the arrival of some 800 international observers will oversee the electoral process , at the time UNHCR has estimated the numbers of observers who will be deployed at polling stations on Saturday after more than 296 thousand observers.

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Iraq will not renew the contract by Blackwater security

Iraqi government decided not to renew the contract company (Blackwater) and the American security because of the shooting incident in the courtyard of eagles, which killed 17 Iraqis in Baghdad in 2007.

He said Interior Ministry spokesman Major General Abdel Karim Khalaf said that Interior Minister Jawad al-Bolani ordered the company not to renew the contract of Blackwater, which expired.

The guards working for the company fired in September 2007 at the Eagles Square in Baghdad resulted in the deaths of 17 Iraqis and wounding about twenty others wounded.

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Kuwaiti carrier demands extra billion dollars from Iraq: report

Kuwait wants Iraq to pay one billion dollars in compensation to its national carrier for Saddam Hussein's invasion on top of a pledged 300 million dollars, according to a report on Thursday.

"This amount (300 million dollars) is not a final settlement for Kuwaiti demands from Iraqi airlines," chairman of state-owned Kuwait Airways Corp. (KAC) Hamad al-Falah was quoted by Kuwaiti newspapers as saying. "Accepting the 300 million dollars ... does not mean conceding the remaining one billion dollars," Falah said.

Iraq said on Sunday it will pay 300 million dollars in compensation to KAC in reparations for damages caused during Iraq's seven-month occupation of Kuwait which was ended by a US-led coalition in January 1991. Iraqi government spokesman Ali al-Dabbagh said the payment was a final settlement and "the two parties agreed to put an end to the legal process."

Falah however said Kuwait won lawsuits in British courts ordering Iraq to pay 1.2 billion dollars in compensation for planes and equipment stolen during Saddam's invasion of the emirate. It also won an additional 100 million dollars for lawyers fees and delay fines.

Kuwait accepted the 300 million dollars pledge only so that Iraqi Airways could take delivery of 10 Bombardier CRJ900 aircraft it had ordered from the Canadian company. KAC used a Montreal court in August to stop the delivery and demanded that Iraq paid 500 million dollars to release the planes, Falah said.

But during talks between Emir of Kuwait Sheikh Sabah al-Ahmad al-Sabah and Iraqi President Jalal Talabani at an economic summit of Arab states in the past week, Kuwait agreed to lower the amount to 300 million dollars.

" KAC will continue to pursue legal procedures for the remaining demands," Falah said.

http://www.zawya.com/Story.cfm/sidAN...%20From%20Iraq

Iraq Vote Seen As Key Test of Stability

Millions of Iraqis vote on Saturday in an election seen as a gauge of how far the war-torn nation has progressed since a US-led invasion ousted Saddam Hussein from power almost six years ago. Iraq has in the past year seen a stark improvement in its security situation, but tens of thousands of police and soldiers will guard the country's first ballot since 2005, testing their ability to keep the peace. The stability of Iraq has been at the forefront of new US President Barack Obama's early moves on foreign policy, as he is keen to redeploy American soldiers to Afghanistan which he sees as the front line against al-Qaeda. There are fears that violence could mar Saturday's polls which are being held in 14 of the country's 18 provinces, with Iraqi and US military commanders warning of al-Qaeda attacks.

The vote is expected to see Sunni Arabs turn out in force in a reversal of the January 2005 parliamentary elections and is also being seen as a quasi referendum on the leadership of Prime Minister Nuri al-Maliki. The Shi'ite Muslim premier has been striding out as an increasingly strong figure on the political stage as he has presented a secular national agenda in response to the sectarianism that has long gripped Iraq. Last year, he won plaudits for taking a tough stance in negotiations over a key security agreement with Washington that will see US troops leave the country by the end of 2011.

His standing began to grow after he ordered Iraqi forces last year to take on Shi'ite militiamen in hotspots such as Basra, Maysan and Diyala provinces as well as Baghdad's Shi'ite slum of Sadr City. The militants were eventually subdued after weeks of fighting that left hundreds dead, drawing criticism from rival political camps that accused Maliki of increasingly overstepping his authority.

This followed the success of the American military's 2007 "surge", which saw a large increase in US troop numbers begin to neutralise fierce Sunni and Shi'ite sectarianism that had threatened to spiral into all-out civil war. "Maliki's greatest triumph is that he managed to turn 'the surge' to his own personal advantage from 2007 onwards," Reidar Visser, editor of the Iraq-focused website www.historiae.org, told AFP. "He was unknown but the surge has made him into something of a strongman."

Four years ago Iraq's Sunni Arabs boycotted the legislative election, allowing Shi'ite and Kurdish parties to take control of parliament, but Sunnis are expected to take part on Saturday in large numbers. Although Maliki is not standing, he has thrown his support behind a list of candidates that make up the State of Law Coalition.

Maliki has also used his newfound power to place loyalists at the head of governing institutions, said Joost Hiltermann, a Middle East analyst with the International Crisis Group think tank. "This could provide him with a significant boost in the elections," he said.

Some 15 million citizens are being called to the polls to elect among more than 14,000 officials for 440 seats. On the eve of the vote, Iraq's borders will be closed while transport bans and night-time curfews will also be put in place as part of stepped up security measures. The run-up to the elections has been relatively free of unrest, a sharp contrast to the election in 2005 when 60 Iraqis were dying a day. Last month the average was 10.

A report by the ICG, which studies conflict-torn nations around the world, emphasised the importance of the election. "Whereas the January 2005 elections helped put Iraq on the path to all-out civil war, these polls could represent another, far more peaceful turning point," it said.

Provincial councils are responsible for nominating governors who lead the administration, finance and reconstruction projects in their areas, controlling a combined budget of $US2.4 billion ($A3.61 billion). Security forces remain under federal government control. The United Nations and Iraq's Independent High Election Commission is organising the elections, with 800 international observers expected to oversee the balloting. The vote will not include the three autonomous Kurdish provinces - Arbil, Dohuk and Sulaimaniyah, all in the north. Elections have been postponed in the oil-rich Kirkuk province, which the Kurds want to incorporate despite fierce opposition by the central government.

http://www.iraqupdates.com/p_articles.php/article/44379

Increase in sales to the central auction to $ 122 million

the U.S. dollar sales of the Central Bank in an auction for the sale and purchase of foreign currency, on Thursday, to reach 122 million and 220 thousand dollars, and a stable exchange rate of the previous meeting at 1170 dinars per dollar.

The bulletin issued by the Central Bank and the Agency has received (Voices of Iraq) a copy of which was that "the total volume of demand for the dollar stood at 122 million and 220 thousand dollars at the exchange rate was stable compared to 1170 dinars per dollar."

The figure is up from the previous meeting, which recorded a total volume of demand for the dollar stood at 92 million and 959 thousand dollars at the exchange rate at 1170 dinars per dollar.

The bulletin said the "distribution of demand for the dollar by 49 million and 220 thousand dollars in cash, covered the bank at the exchange rate at 1176 dinars per dollar, including the central bank and the commission of six dinars per dollar."

According to the bulletin, "The value of remittances outside the country amounted to 73 million dollars, covered the central exchange rate was 1173 dinars, including the central bank and a commission of three dinars to the dollar," did not make any of the 14 banks participating in the auction, offers to sell the dollar.

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White House: Obama will announce "soon" his plan to withdraw troops from Iraq

White House spokesman, said U.S. President Barack Obama would quickly "relatively" how he intends to withdraw U.S. troops from Iraq, to meet that one of the most prominent of his campaign promises.

Said Robert Ghebs told a news briefing on Wednesday evening, just before Obama went to the Pentagon to talk about the situation in Iraq and Afghanistan, said Obama "will be relatively quickly how he intends to withdraw U.S. troops from Iraq, to meet that one of the most prominent of his campaign," adding, "I think that this is will happen soon, I do not want to give an exact date on it but I think it would be relatively rapid. "

He Ghebs that Obama has become now, "a wealth of information" to allow him to take a decision on this matter, and that since the end of the year and sign a security agreement between Washington and Baghdad, which was organized by the presence of U.S. troops in Iraq beyond 2008, "the Pentagon was able to have sufficient time to develop plans to withdraw."

U.S. President George Obama, who inherited from his predecessor, outgoing President George W. Bush, the U.S. presence in Iraq that lasted from April 9 April 2003, he said during his first speech after assuming the post of president, he was determined to "leave Iraq to Iraqis", and responsible manner.

Obama had pledged during his election campaign to withdraw U.S. combat forces from Iraq within 16 months from taking office, that will hear the views of leaders in the field, but he will remain on the force "resident."

Iraq signed the Convention and the United States to withdraw U.S. troops from Iraq, which sets 31 December 2011 deadline for withdrawal, and approved by the Iraqi Council of Representatives in the November 27 2008, and then ratified by the Iraqi Presidency Council in early December 2008.

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