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

Al-Murad hands UNSC President letter from Kuwait FM in response to Zebari''s

Kuwaiti Ambassador to the UN Abdullah Al-Murad on Tuesday handed the Security Council President a letter from Kuwaiti Deputy Prime Minister and Foreign Minister Sheikh Dr. Mohammad Sabah Al-Salem Al-Sabah in response to a letter by Iraqi Foreign Minister Hoshyar Zebari last week regarding the pending issues between the two countries.

Following the meeting with council President Abdurrahman Shalgham of Libya, Ambassador Al-Murad told KUNA they discussed the current "good relations" between Kuwait and Iraq and the ongoing cooperation.

Ambassador Al-Murad said he explained to Shalgham Iraq's obligations towards the issues of the detainees, the compensation and the border, adding that the council president expressed his understanding of the situation.

In an attempt to get Iraq out of Chapter VII of the UN Charter, Zebari told Shalgham in a letter last week that Iraq complied with most Security Council resolutions pertaining to the Iraq-Kuwait situation and that it was willing to close the remaining three files related to Kuwait bilaterally.

Those files, Zebari noted, concern the Kuwaiti missing persons and property, the border and compensation of the victims of the 1990 Iraqi invasion.

Zebari said Iraq reviewed all council resolutions, beginning with resolution 661 related to the Iraqi invasion onwards, and "we find that Iraq has complied with all the obligations contained therein, and that only three files remain which, with bilateral cooperation, may be dealth with and closed".

http://www.kuna.net.kw/NewsAgenciesP...64&Language=en

Monetary Policy and Objectives Set

Central Bank is a government institution to dominate the monetary system and banking and is under the process of monetary issuance and control of the banking system and channeling credit to support economic activity through the provision of appropriate amounts of cash to the need of economic activity.

The monetary policy in Iraq is subject to intervention by the authority of the former regime in the direction of economic activity, ie, monetary policy was held in the eighties and nineties of the last century, bears the burden of the state public budget deficit through inflationary financing (cash new version). This interference in the affairs of the Central Bank of Iraq has contributed to a large extent in whipping the goals and procedures of the Authority of cash. A result of lack of independence of the Central Bank at that time. As a result of the erroneous policy of the Iraqi economy to the most economic crises in general and in particular the cash. Has seen the Iraqi dinar exchange rate deteriorated significantly, particularly in the nineties as the reason for the convening of the high general level of prices and low purchasing power of the Iraqi dinar is the reason for the reluctance of members of Iraqi society, Iraqi dinars for the retention and transfer money to foreign currency (such as the U.S. dollar) or the emergence of the so-called (Baldolrp) or directing their money towards durable goods Kalakarat example.

However, after 2003 after the political change has seen the Iraqi Central Bank full independence in the tools of direct and indirect, and began a successful application of monetary policy in achieving economic stability, especially to maintain the relative stability of prices of goods and services.

Where the central bank was able to achieve economic stability through a set of tools to control bank credit and the volume of domestic liquidity. Used as the central bank auction of foreign exchange buying and selling in the dollar, as was the use of this tool in the history of 4-10 / 2003, which helped in the stability of this tool the Iraqi dinar exchange rate, as the Iraqi dinar exchange rate (1117) dinars per dollar after the (2000 ) dinars per dollar, also arrived at the beginning of 2003 to (3000) dinars per dollar.

This stability in the exchange rate helped to stabilize the general level of prices by reducing import costs, since most goods and services are the goods imported from abroad. The higher the rate of the dinar exchange rate the lower the import costs, and vice versa. In terms of exports, the reduction of the Iraqi dinar exchange rate will become the price of domestic goods from the viewpoint of cheap foreign imports. However, no exports we are talking about? Since Iraq does not make the exception of a single commodity of oil.

The auction of foreign currency by the Central Bank of Iraq has helped to stabilize exchange rates through the provision of foreign currency in order to suit the demand.

It also helps to pull the auction, a large amount of money supply as the amount of money that makes the national economy within a proportion of gross domestic product up to maintain price stability, in addition to the auction of foreign currency to provide goods and services and intermediate and final through the provision of foreign currency to meet the requirements for import, as the scarcity of foreign currency will be reflected in higher import costs and hence on the overall level of prices and thus ex.ac.erbate the problem of inflation.

This good performance of monetary policy has contributed greatly to the achievement of economic stability, but the question arises Is monetary policy alone can achieve economic stability in the long term? In order to achieve economic stability and higher growth rates and promoting economic development must forward the cooperation of all policies at the same time, the planning of any preacher of the macro-economic policy, and provide an environment for investment growth rates in the productive sectors of the Iraqi economy, particularly industrial and agricultural activity in order to provide foreign reserves rather than out of such funds abroad in order to meet the needs of imported goods and services.

It has to be a wise use of economic policy to ensure that all policies (monetary, financial and trade and price ... etc) all operate to activate and stimulate the Iraqi economy.
* An economic researcher

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Evaluate the trade exhibition and conference for investment opportunities in Basra

The Ministry of Commerce, Tuesday, held an exhibition and conference for investment opportunities in the governorate of Basra in early April with the participation of various sectors of commercial, industrial, agricultural and service sectors.

The ministry said in a statement that "the General Company for Iraqi Fairs, will hold an exhibition and conference in the province of Basra under the banner of exhibition opportunities for the construction of Basra," during "the period from 4 to 8 April, when will the various sectors of commercial, industrial, agricultural and service."

The statement quoted the general manager of the company as saying that the exhibition will be held on the "land of Basra International Airport, the first exhibition and conference will be an investment specialist in the city of Basra, with a number of Iraqi and foreign companies" and "the presence of specialists in the field of investment will be put forward in addition to the investment opportunities identified on the map investment throughout Iraq."

On the other hand, the statement quoted Khaled Abu wishes the General Coordinator of the exhibition and the conference as saying that "a number of companies and government bodies, national as well as the ambassadors of Iraq accredited to attend the exhibition and conference sessions."

The exhibition will include a "discussion of the ideal formula to the Investment Law of 2006 and ways to activate the Iraqi law and to promote the best to invest in Iraq" as "the ideal investment for investors in the world for the attributes of the ingredients for the success of any investment project", and "will have the opportunity for participants to identify on the ground Indeed, investment in the city of Basra."

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Iraq soon will be linked to a global communications system across the Arabian Gulf

Completed the technical and engineering cadres in the Department of Communications Basra advanced stages of the draft Marine Alkablo FLAG Iraq, which will link the nations of the world through the system addresses the integrated across the Arabian Gulf region.

The technical agent of the Ministry of Communications Amir Khader al-Bayati said in a statement to the National Center for the Media «The project is one of the important projects and it is vital to the projects within the communications infrastructure in Iraq and will have a clear impact on the sovereign and the political, economic and social».

For his part, the Director of Department of Telecommunications and E-Zine Al Abidine Basra Cltag levels of achievement of the project, saying «we have the first phase and we are currently in the process of recognizing certain devices to complete the infrastructure», stating: its importance in the provision of telephone services and data transmission and Internet services and video transfer of the picture within the telecommunication system the more advanced countries of the world at the present time in Iraq through the delivery of the FLAG network, starting from the Indian city of Mumbai through Dubai, Qatar, Saudi Arabia, Bahrain and Kuwait on the way to Iraq.

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Economic Forum ends on the recommendation to support the private sector

National Economic Forum concluded its work in Baghdad, the first set of recommendations to support the Iraqi economy on ways to address the challenges facing the Iraqi economy in various fields. An official source from within the corridors of the Forum to support the private sector make recommendations of the Forum Msheeraaly he made during the Research Forum, which resulted in the recommendations for the development of solutions to the problems of the Iraqi economy in the industrial, oil and banking, and others. Was also set up a committee to follow up the implementation of the recommendations will be announced later presented to the advisors, the Council of Ministers.

The source pointed out that Vice President Tariq al-Hashemi, who sponsored the forum vowed to pursue in order to take the recommendations of the Forum «described mandatory», said the source, the President of the Republic Naii said: "The State supports private sector« according to the principle of binding »and consistent with the economic policy of the State.

Hashemi stressed the intention to hold other forums as well as the formation of a standing committee to follow up the implementation of the recommendations that emerge from them, explaining in a speech at the end of the Forum, that the work will continue in this framework «to put an end to Iraq's economic dilemma».

He called economic experts, participants of the Forum, to support and encourage the private sector and the role of the State more in the context of the trend towards the adoption of market economy, while some participants criticized the lack of clarity in the economic policy of the State since 2003, they said

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Press economic

Constitute the economic press in neighboring countries, suggesting a prominent feature of the scene where the journalist, if we exclude the Western press of America is very advanced in this area and almost leading economic situation in these countries are at the forefront of the boom-time sales in the economic press is still in Iraq and without crawling scene press of any newspaper or magazine to monitor the process of economic transformation taking place in the country in a huge number of newspapers and magazines in Iraq and the economic situation is no doubt that the current Iraqi newspaper article is very rich and enrich the singing of any publication specialist if one takes into consideration that Iraq will see during the next few huge investments in all sectors

This requires a campaign to keep pace with real reconstruction, investment and the activities of domestic and foreign private sector in the world and hoped to invest in Iraq.

And potential economic activity in Iraq are more likely to see the light of print, but a specialist is needed to play some media organizations to prepare for the solemn task of this task and to see things in the forefront of pushing a large number of Iraqi journalists in the intensive training courses to learn the skill of the press, where there is economic Puna difference between us and the Arab and foreign countries in this area has given me the opportunity to look closely at these countries like Egypt, Lebanon, Qatar and the Britain of the technology press in the economic sphere, as it was my Jmouhp for the benefit and learning, but I'm at the same time, I felt the bitterness of the existence of the remarkable potential of the press in Iraq which can be employed in this direction in order to establish a solid economic press could have a significant role in the Iraqi scene, the press and the view of many observers that the press will have an economic center Matovrt it if the appropriate conditions of material support and training mechanisms, development, and build solid foundations for the process of media Established and start along the lines of what happened in some Arab countries, which shortened the distance to the economic press is now self-funded through the promotion and advertising, which usually Matatmayora sophisticated private sector companies.

Therefore necessary for us to set up a specialized economic press at the time of the scene without any sign to be a nucleus for the foundation.

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The arrival of a new round of foreign tourists to the province of Kurdistan, Iraq

A group of new American tourists include 13 men and one woman to the Kurdistan region of Iraq to visit the archaeological and historical sites.

Teo said Larsson, Director of Tourism for sponsoring a trip to the tourist group to visit Kurdistan to inspect the archeological sites and historical sites, and found a way of life of local residents.

A group of eight people, including five Britons and two Americans and a Canadian visit to Iraq a week ago and the curfew in the soil from the north to the south.

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Adel Abdul-Mahdi, Minister of Commerce discuss the economic situation & investment

Deputy President Adel Abdul-Mahdi, with Trade Minister Abdul Falah Sudanese latest economic developments and investment and working mechanisms of the Ministry of Trade and ways to advance the commercial realities in the country.

Abdul-Mahdi also stressed to make further efforts to serve the Iraqi people who continue to suffer from a shortage of needs and services provided to him. He also noted the need to expand trade with countries of the world and opening the doors of cooperation, stressing that Iraq today is at the point of the horizon to attract businessmen and officials of the Bank.

For his part, Minister of Commerce, said that the Ministry is seeking to increase the volume of trade exchange with other countries, referring to the meeting with the Turkish delegation which has come out with positive results, increasing the volume of bilateral trade to 20 billion dollars to strengthen relations between the two countries.

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Parliament denies blocking the implementation of oil projects

Denied the Kurdistan Alliance MP for the news on Tuesday from the government of Kurdistan, have impeded the implementation of the construction of oil refineries in the region, said MP Ali Blue is a member of the Commission on oil and gas in Iraq's parliament, told (Akaniwz) that the government of the province does not hinder the construction of any of the oil refineries, but services and equipment used in projects such as oil refineries, a very old useless Disagreement about the quality of the refineries are not on the implementation of its installation.

The newspaper quoted the morning of Tuesday, an official in the Iraqi Oil Ministry as saying that the Kurdistan Regional Government hinder the construction of refineries, the provinces of Arbil and Sulaymaniyah in spite of the completion of 80% of the project.

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Central to the decline in the sales of 135 million dollars in the canteen

the U.S. dollar decreased sales of the Central Bank in an auction for the sale and purchase of foreign currency, on Wednesday, to reach 135.5 million compared to $ 168.5 million in the previous meeting.

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 135 million and 513 thousand dollars at the exchange rate was stable compared to 1170 dinars per dollar."

The figure is a decrease from the previous meeting, which recorded total volume of demand for the dollar stood at 168 million and 503 thousand dollars at the exchange rate was 1170 dinars per dollar.

The Bulletin that "the demand for the dollar is distributed by 19 million and 775 thousand dollars in cash, covered by the bank at the exchange rate was 1176 dinars per dollar, including the central bank and a commission of six dinars per dollar."

With the value of remittances outside the country of 115 million and 738 thousand dollars, covered the central exchange rate was 1173 dinars, including the central bank and a commission of three dinars per dollar, "did not make any of the 17 banks participating in the auction, offers to sell the dollar.

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