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

Double-decker buses are for the first time in the streets of Diwaniya




Ministry of Transport has recognized the province of Diwaniya, a red double-decker buses for the transfer of students from the University of Qadisiya to the university.

A source at the ministry told a news briefing on Thursday, said the initiative came in support of the educational process and contribute to solving the problem of transport for the students of the University of Baghdad.

For their part, students at the University of Qadisiyah expressed joy and desire for this initiative, the Ministry of Transport and thankful for the efforts to help university students.

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Central Bank continues to apply monetary policy to raise the value of the dinar against the dollar

Said Mohammed Salih, adviser to the appearance of the Central Bank of Iraq that the bank is continuing in the application of monetary policy, which contributed to raise the value of the dinar against the dollar and curbed the phenomenon of economic inflation, which reached the high levels, but the low price index is still slow.

Saleh said in a press release Saturday that the slow decline in the index due to increases in wages because of the breadth of the financial liquidity to offset the majority of the bank's policy aimed to control the expansion of inflation."

He revealed to the difficulty of falling prices by short-term in the absence of a unified strategy to overcome the negative aspects of economic reality, pointing out that state support for food and consumer goods, would reduce prices and provide a large supply in the domestic market and the support required indicating that the budget assigned to approximately 40% of the total amounts.

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Mazhar Mohammed Saleh: Central Bank of Iraq has the support of the wheel of the dinar and monetary stability

Said the Central Bank of Iraq adviser d. Mohammed Saleh, the appearance of the National Economic Forum in the first, that those concerned with the affairs of the country's monetary policy following the uncertainty in the understanding of monetary policy signals to the Iraqi Central Bank That have continued to face the cases of hyper-inflation and the deterioration of the Iraqi dinar exchange rate and through the manifestations of the imbalance of economic and social experience of the difficult country for more than three decades, it continues to bear some responsibility for community programs have been the country's investment and development projects to build on the results of the successes of monetary policy, that have reached their targets in reducing inflation rates mainly to increased levels of 34% per annum three years ago to back down today to about 11.7% per year.

And Saleh, has made it possible for the monetary policy of the Central Bank of Iraq's stability and to meet its cash-and-wave activity after the inflationary significant improvement in the Iraqi dinar exchange rate and a high percentage increased to 40% in value since 2004, as well as building a strong foreign currency reserves, which are all to build a strong platform for maintaining stability in the external economic climate and the establishment of an appropriate starting point for investment. The understanding of the positive role played by the reference interest rate to restore confidence in the Iraqi dinar and the promise to maintain an attractive source of wealth of cash, had reached its goals in reducing the annual inflation rates of the foundation as we have mentioned, especially after the country plunged manifestations dollarization and speculation, and the development of alternatives to physical assets from the liquidity which led some of the functions of money as a store of value and a tool for cash flow from outside the money and the monetary system, the system made at the weakest point in the history of the country's economy.

Asher and the benefit of the international reserves of the Central Bank of Iraq is based mainly in the construction and stability. External value of the Iraqi dinar and defend high exchange rates in favor of stability and warned of the tendency to act outside the scope of the goals and objectives of the cash balance, claiming that the financing of investment projects of various government, would have serious consequences on the external economic balance and lose the country's defense force for the entire economic stability, as well as weaken the ability of monetary policy in the protection of the national currency and re-entering the failures caused by the deterioration of inflation, exchange rates and with a sudden wave of high external imbalances, becomes difficult to face low reserves, because of that link with the financial market, international reserves, a very cautious and market volatility compared to the rapid market commodity.

Saleh noted that the attractive force of the Iraqi dinar today, and a strong national currency is the best tool in the evolution of the monetary savings and financial intermediation and the proper and appropriate way to address the phenomenon of inflationary expectations, which have become alternatives to the assets of the dinar as the preferred means of wealth and most of those potentially inflationary expectations, which has become the latest returns as a utility similar to the deviations generated inflationary consistently strong returns, which is intangible, but the benign inflation and superior to the nominal interest rates. This has the form of the inflationary trend in the speculative element of the economy away from real investment during the trading of financial assets or real assets promised high liquidity and rapid-profit interest embodied implicit high inflationary expectations, which is not interest, what makes the market is not indifferent to the real productive activity as long as is inflation returns to the assets intended for speculation, not productive activity. This was a reference interest rate adopted by the monetary policy is the means of anti-inflation expectations and the resulting investment activity in order to restore the real role of the right outside the incubator inflationary speculative and not as perceived by those ignorant of the work settings in which monetary policy and the related mechanics. In particular the ignorance of and disregard for the risks of continued inflationary pressures and expectations associated with them and providing a stable environment, however, is negative for the repulsive and attractive Investment real strong currents of speculation in the market and away from productive activity.

Promised in favor of monetary policy was able to in spite of all the circumstances of political transition and economic development of the complex past of the country's financial architecture and the achievement of concrete and strong rates of economic stability and to defend the exchange rates of a strong, stable national currency and attractive, through the provision of foster stability and strong real growth of the programs and economic development.

Noting in this regard, that although the bulk of the country's development programs is the responsibility of the government as part of the annual investment budget, but the real investment activity of the private sector has not only with the help of the active role of the government and provided soft loans to boost their activities. The interest of his, that the accumulation of foreign or international reserves in the Central Bank of Iraq and to build over the past five years, has been associated closely with the public finances of the Government of Iraq, those resources and the growth of foreign reserve was the result of foreign currency exchange in local currency exported from the Central Bank of Iraq and in the interest of the public budget to be able to cover expenses Local Iraqi dinars.

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Have been on a break for Easter, will be back posting properly towards the end of the week.

Seaview, hope you had a Blessed Easter Holiday. I very much appreciate your efforts to keep RC up to date on some very important issues. Wish more folks would forget the Rumor Hype and once again follow the news trail. We have come a very long way and look to have a bit further to travel till something, anything, nothing happens. It has been great fun learning about World currency with you and the RC group. Let's stay the course and see where we all end up..67

hang in there Warrior..hopefully our ride is almost over...Pat

Minister of Transport has called on Britain to open a direct flight route between Baghdad and London

called the Minister of Transport Amer Abduljabbar Ismail British authorities to open a direct flight route between Baghdad and London to encourage the investors and the arrival of British businessmen to Iraq, and expressed the hope that the imminent opening of this line.

The Director of Media Ministry AKIL Kawther told the independent press (Iba) today, Thursday, Ismail reviewed with a delegation from the Ministry of Development and the Union of British contractors and British companies to attract British investors for the purpose of contributing to the reconstruction of Iraq, Ministry of Transportation projects and put up for investment in various areas of air transport, land and sea.

"It is part of the British delegation that his role is limited to disclosure of the projects and the needs of the Ministry and presented to the British investors.

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Attorney-Yacoubi: oil and gas law is still in its brief the government

Deputy Karim denied Yaqoubi mass Fadhila the parliament to be the cause of the delay in ratification of the Iraqi oil and gas, and expressed his hope that the government will send the latest version of the Parliament amended this month.

Yacoubi said told the independent press (Iba) today, Thursday, has been voted in the last legislative session, important laws related to economic affairs of the country, and will discuss the laws of the next few days, our hope is that the law of oil and gas, one of them.

He added that the House of Representatives Aithml disable any responsibility in the approval of oil and gas law, which awaits the Iraqi street because of its importance in determining economic policy and the future generations, after the amendment of the version sent to the House of Representatives to the prime minister several months ago but has not returned to the vote, calling for the adoption of the final amended version that have been agreed and quickly sent to the House of Representatives.

Yaqoubi said the importance of law in regulating the export of oil and arrange the conditions of the companies wishing to invest and to provide strategic stock management system with the establishment of oil operations and the existing international agreements between Iraq and other countries with regard to the transfer of crude oil. To determine the law, stressing the foundation for cooperation between relevant ministries in the federal government..

He warned of the continued points of contention between the government and the province of Kurdistan on oil contracts signed with international companies. Returned it with one of the issues that affect the decisions on the oil sector in future.

The Paragraph 1 of Article 5 provides for the legislation to the House of Representatives of all the federal laws of the operations associated with oil and gas, according to paragraph 2 of Council's endorsement of all the conventions for the international oil and communication operations in the oil and gas, and concluded by the Republic of Iraq with other countries.

As for the Council of Ministers shall be the recommendation of the House of Representatives of the bills proposed for the development of sources of Iraq's oil and gas.

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Trade: Hail PROFILE financial standing for an increase in the ration card items and the continued distribution of a regular

Ministry of Commerce revealed that the main reason is an increase in the number of items of the ration card, or the continuation of the process of distribution on a regular basis is the lack of financial allocations and the way their companies to the coffers of the ministry.

A statement issued by the Ministry today that the Ministry is dedicated to the 2009 budget is far less than the actual need for the delivery of all items of food to citizens, according to estimates by the ministry to meet the needs of citizens in 2009 of the food items that fall within the ration card allocations.

The statement added that the financial crisis and the decline in oil imports caused the drop in government allocations of ration card, which Houdet with great interest over the past years despite the high costs that were monitored for the needs of the ration card.

The statement noted that the ministry had set up various committees for the purpose of benefiting from the amount allocated this year for the supply of the basic vocabulary of the ration card and non-waste through the narrow and expenses to determine the actual need.

He pointed out that 40% of the amounts allocated to the ration card are allocated for maritime and land transportation in addition to the amounts of processed grain from farmers to the government, which has been supported by the purchase price of the much higher world prices and the fall in the framework of government support for the agricultural sector and give farmers more opportunities for the cultivation of vast tracts of land to meet the requirements of the country's need of grain, although 90% of the grain supply is a global advanced Mnascie such as the United States, Canada, Australia and Romania as well to other countries such as Vietnam and Thailand.

The statement stressed that the Ministry of Commerce has worked in the previous period to meet the need and fill the requirements of the ration card through the mechanisms of fast and with a view to not fall into the crisis, but today it is working on restoration of the tenders in accordance with government controls despite the fact that this has caused confusion and some shortages occur here or there but will address the financial problems of corruption in addition to the continued arrival of materials on a regular basis according to a marketing plan and a clear-cut.

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House of Representatives held a meeting today to discuss the mechanism needed to resolve the issue of the Presidency of the parliament

House of Representatives convened today's meeting is the second in the current legislative term will be devoted to discuss the mechanism needed to resolve the issue of the Presidency of the parliament which is still ranging from approximately four months. This will pave the way for the adoption of many important laws are pending, including oil and gas law, which allows for approval to move more freely in the case of oil investment and the advancement of the oil infrastructure, which is the foundation for economic advancement.

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