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

World Bank ready to support the Iraqi economy

The Secretary-General of the Secretariat of the Council of Ministers on Alaak at a news conference in Baghdad Wednesday, the World Bank ready to help Iraq to find sources of financing for development projects and to attract investment and improve the performance of private and government sectors.

Alaak said after his meeting with the delegation of Iraq to inform the World Bank to carry out the financing and promotion of investment and benefit from the experience and capabilities of the bank.

The representative of the Group of Arab States to the Board of Directors of the Bank Mirza Hassan Iraq is that the great leaps toward the development which requires the development of a strategy for dealing with capital projects in Iraq.

For its part, stressed the Deputy Director of the International Bank for the Middle East Daniela Krzani the importance of working with the private sector to overcome the obstacles facing the Iraqi economy, a sign that the efforts will be made to facilitate the entry of investments and to contribute to Iraq in building the economy.

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World Bank: We will help Iraq in solving the problem of electricity

World Bank reported that the Iraqi government, the World Bank's work in Iraq at this stage will focus on assisting the Government in removing obstacles that face companies.

And particularly the problem of electricity as one of the fundamental constraints of the private sector in Iraq. A statement of the Council of Ministers that the Council's Secretary General Ali Alaak met a delegation to visit Iraq on the Board of Directors of the World Bank, where it was to discuss ways of activating and strengthening the relations between the World Bank and the Iraqi government through the strategy approved by the Board of Directors of the World Bank to help Iraq during a meeting in 19 March 2009, which included the approval to add the amount of 500 million dollars to the amounts allocated to support projects in Iraq over the next three years.

The delegation included both Daniela Krisani World Bank Vice President for the Middle East and North Africa, and Roger Adams, E.xecutive Director of the good in Iraq, Bahrain, Egypt, Jordan, and James Bond, chief of staff of the Agency for international guarantees for investment and Michael Essex, director of the Agency for International Finance in the Middle East and North Africa in addition to the Director of the Pacific Arbi Iraq in the Middle East and North Africa,

The statement quoted Daniela Krisani to the World Bank Vice President for the Middle East and North Africa as saying in the meeting that the main objective of this strategy is to enable Iraq to more effectively manage their resources, pointing out that one of the basic strategies of the World Bank in Iraq is to empower the private sector to play its role and create opportunities Labor and delivery of basic services as the World Bank will help the Iraqi government to create a suitable climate for reconstruction and thus create an appropriate ground for investment. In a statement after the meeting that Alaq these meetings came a continuation of the efforts of coordination and cooperation between the two sides to the financing of major projects and infrastructure Iammarabanny security, especially after the significant improvement seen Iraq through the use of the experiences of the World Bank and the creation of additional sources of funding, indicating that the path to building the economy of Iraqi comes a strong dependence on the private sector and attract foreign investment, and here comes the need to assist the World Bank in the area to give guarantees in respect of investments by international institutions to ensure that these aspects and to reassure investors.

For its part, Crecyani indicated that the World Bank's work in this phase will focus on helping the Iraqi government to remove the obstacles faced by companies, especially the problem of electricity as one of the fundamental constraints of the private sector in Iraq

The Secretary-General of the Council of Ministers of thanks on behalf of the Government of the visiting delegation stressed the need to expand the role of the World Bank in Iraq as one of the most important economic institutions in the world that can be relied upon to assist in the reconstruction of Iraq.

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CBI’s dollar demands slightly higher on Thursday

Demand for the dollar was slightly higher in the Central Bank of Iraq’s (CBI) auction on Thursday, reaching $86.510 million compared to $84,120 million in the previous session.

“The demand hit $22.760 million in cash, covered by the bank at an exchange rate of 1,176 Iraqi dinars, and $63.750 million in foreign transfers outside the country, covered by the bank at an exchange rate of 1,173 Iraqi dinars per dollar,” according to a CBI news bulletin received by Aswat al-Iraq news agency.

None of the 10 banks that participated in today’s session offered to sell dollars.

http://en.aswataliraq.info/?p=111317

Cabinet approves construction of Iraq’s largest port

The Iraqi government has given the green light for the construction of a large port in the southern city of Basra, according to a government spokesperson.

“The Iraqi cabinet has approved recommendations for speeding up work on al-Faw Big Port,” Ali al-Dabbagh told Aswat al-Iraq news agency.

The project is expected to change the economic map of the region and will help revive the Iraqi economy, Dabbagh noted.

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Al-Maliki leaves Baghdad for Russia

Iraqi Prime Minister Nouri al-Maliki will leave Baghdad on Thursday afternoon heading for Russia, leading a high-profile delegation, an official source said.

“Al-Maliki will leave Baghdad on Thursday afternoon (April 9) heading for Russia in response to an invitation from his Russian counterpart Vladimir Putin,” the source told Aswat al-Iraq news agency.

“During his three-day visit, al-Maliki will be accompanied by Foreign Minister Hoshyar Zebari, Defense Minister Abdulqader Mohamed al-Ubeidi and Electricity Minister Karim Wahied,” he added.

Two days ago, Ali al-Dabagh said that Nouri al-Maliki will pay an official visit to Russia next Thursday (April 9) in response to an official invitation from his Russian counterpart Vladimir Putin.

The embassy of Iraq in the Russian Federation has confirmed the information that the Iraqi prime minister will visit Moscow this week within the framework of his European tour, during which he will visit France and Great Britain.

“In the Russian capital, al-Maliki will discuss prospects for the development of economic and political relations with Russia,” a representative of the embassy said.”

“Of course, the sides will discuss prospects for the resumption of Russian oil contracts, investments, as well as the possibility of work of Russian companies in Iraq. We plan to discuss how to finish the work which was suspended in 2003,” the diplomat said.

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Opinion piece - D. Abdul Ali Awad - 8th April 2009

Notes on the economic self-confusion and waste of public money

The event of loss due to the Iraqi scene has generated a maze of multiple and strong convictions of the participants in the political process that they will not be able to maintain their positions and strength after the next election. Based on current data will appear Astefavat new political blocs and lead to the disappearance of some political forces to replace the emergency forces of the other new test share...And each share would be reduced in the next parliament.

This intuition resulting from the reality which demonstrates the resolve of those who boycotted the previous elections. High participation in the next round of elections in order to contribute to decision-making.

As well as the residents of the center and south will aggressively for the disposal of the dominance of sectarian parties and their representatives nominated for the rightful owners.

The loss dragged the case on the economic side, which represents a clear picture (for the waste of public money) and the confusion of legal cover economic policy. The process of squandering the money began when Bremer decided at the beginning of the fall of 2003 (Primer) print paper currency and a new Iraqi same purchasing power of the Iraqi dinar ..

He has been asked to issue a new currency the state treasury of $ 470 million (as reported by some sources at the time) and the question arises: Why did not the Iraqi dinar was printed as the former is due to the purchasing power of the previous reign, including the dollar equivalent of 01,3.

We hear from time to another that the Central Bank of Iraq is considering to lift the three zeros of the new currency .. To return as it was meant to be disbursed the same amount for the printing of the new dinar.

But this policy is a waste of the resources of the state's treasury?.. Another indicator of the waste of public money when we have heard from a member of the House of Representatives, said the crew consultant to the Prime Minister is composed of 74 advisers .. Why is there such a huge number and how their salaries amount to how many Hamayatem?

Have not heard that a governor, whether Republican or Ahlia has a number of advisers .. Is this the concern for the people's money? That is the rationalization of spending? Ask the legislative text Is there a limit the number of advisers to the presidency of the government?

We say that based on the principle of rationalization Alanvaki reduce the number of ministries that are not justified and to get rid of the slack in the state. Another scene shows the confusion represented by the deliberate economic decision by the central bank to lift interest rates between 12% to 20% time .. Deposits on the ground absorb the excess of the currency market to eliminate the inflation resulting from such increase.

Have been better for the Central Bank to determine precisely the value of the services available to the Iraqi citizen before any consideration .. On the basis of which raises cash for those services, the impact of that decision has been negative as to make private banks to refrain from providing soft loans for the poor and small producers .. Consequently, financial institutions turned to adverse parasitic brokers who would serve as the national economy and increase the recovery of greedy.

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The national oil companies in Iraq, highlighting the

Oil companies won nine second-class operator in control of the majority of Asian countries, just grouping eligible to participate in tenders in Iraq, which implies that the escalation of the national companies on the oil scene. Solicitation and this, only the second since the invasion U.S. to Iraq in March 2003, covering 11 fields of oil and gas, including oilfield, which alone represents about two billion barrels. The companies that have been classified is basically national groups, including the five Asian. According to the document obtained by Agence France-Presse

A copy of the Ministry of Oil, is a matter of Russian companies "Rosneft" and "Taftnaft" and Kazakhstan "Kaz Munay Gas Exploration Productions" and Vietnamese "Vietnam Oil" and Angola, "Sonangol" and Pakistan "Pakistan Petroleum" and Japanese "Jugmik" and Indian "Oil India" and the company Western one is the Scottish "Kaern Energie."

This option "is a reflection of the escalating power of corporations by the National Asian and we are witnessing in recent years, both in the solicitation, or in bilateral agreements," according to the reaction of Francis Perrin, director magazine "Oil and gas are Arabs."

But Samuel Sizok Foundation "any HSBC Global Insight," he said, "we must not forget that this added to the nine companies that had already been selected in the first solicitation," which automatically classified to participate in the recruitment II.

In June 2008, selected 35 companies from all major companies and some large companies such as Algeria's Sonatrach, the government without signing any agreement with any of them so far.

The first solicitation, which deals with large fields, "requires that companies may be active in the large oil fields, a requirement that excludes a lot of (companies) of the second degree."

The threshold was lower this time because the new companies which have made small-sized and some did not work outside the national borders.

But the selection of these new companies may be allowed to the Iraqi authorities control of its resources carefully and make them pay a heavy price for their participation.

And "Iraq needs the skills of major companies," but "did not want to let it affect the oil policy," as Ray Ehsan ul Haq Foundation's ABC Energie. It is here, "the policy of preference for national companies (...) in the second solicitation," he said.

The fact is that many of the producing countries in the Middle East was liberated from major companies which have given up the image of looting.

The cruise companies smaller and more flexible in the negotiations may also constitute an incentive for giant Western groups do not agree to the terms of Iraq and the recent signing of contracts.

The Sizok "These smaller companies will be able to increase the pressure on big companies," and "especially the state-owned companies that may move by the political goals rather than by its eagerness to obtain the highest margin."

Said Manouchehr Takin of the institution's EGAS, "said Asian companies more willing to further risk."

He was the first oil contract signed since the fall of Saddam Hussein's regime is reached with the company, the Chinese government, "the China National Petroleum Corporation," with very low margins, he said.

Francis Perrin, said, "on average, that the (smaller operating companies) have a margin of risk is higher than the margins of large corporations." He added that "Iraq is the land full of opportunities." Iraq has the third-world reserves of crude oil with more than 115 billion barrels after Saudi Arabia and Iran.

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Shimmari expected postponement of some important laws for the next parliamentary session

The head of the Virtue of the House of Representatives Hassan Shammari expected to postpone a number of important laws to the next parliamentary session, including oil and gas law, and constitutional amendments.

Devoted to the current session of the House of Representatives will be the end of the year, where he is scheduled to hold parliamentary elections in November Acadm.
The Al Shammari told the independent press (Iba) today, Thursday The need to resolve the issue of the Presidency of the parliament after the summer recess in the first sessions of the Council.

He is expected to witness the first days of the Parliament of a heated debate on the issue of chairmanship of the House of Representatives, noting that in the case of being able to resolve the issue of the House of Representatives will be able to examine other issues raised.

The House of Representatives has seen disagreements over the nomination of the Speaker after the resignation of former President Mahmoud al-Mashhadani, was not compatible with the particular person for the job at a time when the Accordance Front, to nominate the candidate for the position of the right (exclusive), as the system of quotas adopted by the political process in Iraq, the objection of the other blocs to do so.

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only been 4 months since the president of the parliament has resigned...and still no new president of the parliament.....no wonder people are giving up on these people...they all talk and no action...IMHO Pat

Formation of committees between Iraq and Brazil to establish oil refinery

Said Planning Minister Ali Baban, Iraq, Brazil and formed committees to discuss the construction of a project to build an oil refinery capable of producing 200 thousand barrels per day in the country, which may include oil exploration and production.

Baban said in a press statement after a meeting with businessmen in Rio de Janeiro that the Iraqi government called on the oil company Petrobras, the Brazilian government to build the refinery.

Baban said that the global financial crisis may constitute obstacles to the project, adding that the large domestic reserves and low costs of extraction is a factor in attracting international companies to invest in the country.

For his part, President of Petrobras, Jose Sergio Gabrielli said the company would consider the proposal seriously, it is that Petrobras, the company has been producing oil in Iraq in the seventies last century.

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