Thread: Archive News - Iraqi Dinar Think Tank - 06/05/09 - 04/09/09

Iraq agrees to continue negotiations with IMF

The Iraqi Council of Ministers agreed to continue negotiations regarding the Iraqi financial, monetary and oil policies with the International Monetary Fund to help the country boosting its economy, the official spokesman for the Iraqi government said Tuesday.

“The council agreed to continue negotiations regarding the financial, monetary and oil policies of Iraq to boost its economy and to end the rest of the debts,” Ali al-Dabbagh said in a statement received by Aswat al-Iraq news agency.

“Finance Minister Baqer Jabr presented the outcome of his talks held in Amman with the IMF,” it added.

http://en.aswataliraq.info/?p=114708

Iraq pays back debt to Kuwaiti corporation

The Republic of Iraq has paid a new batch of its debt to the Arab Investment and Export Credit Guarantee Corporation (DHAMAN) in Kuwait, the Iraqi finance minister said in a release on Tuesday.

“The Iraqi Finance Ministry is determined to end the file of Iraq’s debts,” Baqir Jabor al-Zubaidi said in the release received by Aswat al-Iraq news agency.

“The debts issue will be solved through meetings and periodical conferences,” he added.

http://en.aswataliraq.info/?p=114710

Iraq, IMF near agreement on $5.5 bln standby deal

Iraq and the International Monetary Fund are nearing agreement on a $5.5 billion, 5-year standby loan that the war-battered country would be able to draw down in three instalments, a central bank official said Tuesday.

The IMF presented its proposed conditions for the loan during a recent meeting in Amman, including a call for fiscal reforms, restructuring of state banks and banking sector reform, said senior Iraqi central bank advisor Mudher Kasim.

The Fund called on Iraq to reconsider its food ration programme so only those in need received subsidised products, and also proposed that the central bank be obliged to pursue currency stability and to fight inflation.
"The Iraqi delegation thinks that everything raised by the other side was reasonable," Kasim told Reuters.

"The negotiating delegation does not have the right to accept or to reject the proposals, but the atmosphere was positive and the Iraqi side was comfortable with the viewpoints expressed."

The proposed agreement, which involves three tranches of 1.2 billion SDRs, or a total of around $5.53 billion, will be submitted to the Iraqi government for consideration, Kasim said.

The meetings in Jordan were attended by Iraqi Central Bank Governor Sinan al-Shibibi and Finance Minister Bayan Jabor.

Jabor had previously told Reuters Iraq might seek a loan arrangement for as much as $7 billion to help it cope with a budget shortfall that has resulted from a drop in oil prices from a record high above $147 a barrel last summer.

Iraq relies on oil exports for more than 95 percent of state revenue and desperately needs money to rebuild after years of sectarian warfare and insurgency triggered by the 2003 U.S. invasion.

Iraq has had two previous arrangements with the IMF of less than $1 billion each, set up without the expectation Iraq would draw on the funds given strong oil revenue in recent years.

http://www.reuters.com/article/marke...29811620090616

Riots still ongoing in Iran in protest over elections results

The progresses in Iran after the Presidential election especially as candidate Mir Hussain Mussavi refused the results saying that Ahmadinejad won with a landslide victory. More surprises seems to be on the way. In a development that seems dangerous Basij Islamic extremist militia, a quasi-military force killed a person at least until now and wounded others when their building was attacked by protestors objecting over the elections. It is to be noted that Basij militia are loyal for the Supreme Leader Ayatollah Ali Khamenei.

Dozens of thousands participated in the manifestation that took place in the Capital Teheran in order to support the opposition Candidate Mir Hussain Musavi who challenged the result of the elections. The protestors made a human chain outside Basij building to impede any clashes while the demonstrators are passing by. Heavy fire was hear Monday night in 3 regions north of Teheran.

Musavi website quoted the later saying that he is ready to pay whatever price needed in order to face the violation during the elections. Musavi said that he is not optimistic regarding the challenge he submitted and called to cancel the results of Friday’s elections. To that, Musavi called government forces to stop using violence against people and stressed that he is ready to restart elections.

The leader of the Iranian Freedom Movement, opposition group said that the attacks of Ahmadinejad against his opponents opened the door to schisms inside the governing institution and between the people and the government uttering that thus is the biggest crisis since the revolution.

http://www.alsumaria.tv/en/Iraq-News...s-results.html

100 million dollars for SOFA referendum

Cabinet spokesman Ali Al Dabbagh affirmed that the government allocated almost 100 million dollar to hold a referendum on the Status of Forces Agreement. Al Dabbagh noted that the government called on Parliament to delay the referendum while head of the Independent High Electoral Commission said the IHEC is ready to conduct the referendum 60 days after passing the law to Parliament.

http://www.alsumaria.tv/en/Iraq-News...eferendum.html

Rafidain Bank in the city: the proliferation of counterfeiting gangs archives a negative impact on the banks

The director of the Bank of Nasiriyah in Iraq, the proliferation of gangs forgery of official archives has negatively impacted the performance of banks and some other services.

Obaid Sajid confirmed al-Asadi News Network Nasiriyah that there are many networks there is fraud within the province of Dhi Qar, and is the falsification of official archives, he said, pointing to the fraud and the responses from the cities of Nasiriyah, Suq al-Shuyukh and Shatrah.

Asadi explained that many of the archives are submitted to the bank in the form of a fundamentalist credentials according to official controls, but that after "the work of the health of them are found to be false after investigation shows organized within the province."

Director of Bank of Iraq has urged the security agencies to do "their role in this area that this phenomenon is clear in the street, it is possible to get special security devices in order to know the spots in the province and carried out these acts."

http://209.85.227.132/translate_c?hl...tctE3iv7_264kA

Iraq demanded the return of the organizations, the Gulf Cooperation Council

Union: The Saudi Foreign Minister Prince Saud al-Faisal, Saudi Arabia, keen to ensure the success of the march of Iraq, stressing the Kingdom's keenness to help Iraq at all levels. An official source at the Ministry of Foreign Affairs and Minister of Foreign Affairs in Saudi Arabia. In a meeting with the Iraqi ambassador in Riyadh, Ghanim Alwan Jumaily pointed out that Saudi Arabia can not pose a threat to Iraq,

Saying the two countries strong and is a deeper one to the other. Faisal said that the presence of the Ambassador of Iraq in the Kingdom comes in the context of Iraq's desire fraternal relationship. Saudi minister also expressed his delight Dully rhetoric between the Iraqi and Kuwaiti officials and resorting to dialogue and diplomacy to resolve outstanding issues. For his part, the Iraqi ambassador to the Iraqi government is prepared to address all outstanding issues with Kuwait in the framework of the diplomatic channel, and away from the media escalation.

Meanwhile, the Ambassador of the Republic of Iraq, in Riyadh, Ghanim Alwan Jamili in a statement published on the Web site of the Ministry of Foreign Affairs said that "Iraq has a genuine desire to develop relations at all levels to serve the interests of the peoples of the Cooperation Council for the Arab Gulf States and the Iraqi people", again in the same time "the claims of Iraq's past return to the organizations of the Cooperation Council for the Arab Gulf States and attached to the electricity grid and railway network with the countries of the Council." Jamili stressed "the need to address that might afflict the relationship between the brothers through official and diplomatic channels and the need to move away from the escalation in the media often play a role in the events dramatized."

For his part, Abdul Rahman al-Attiya, the importance of Iraq's presence in the Gulf Cooperation Council "to give the task force for the region." And Attiya, according to the statement promised "an objective study of the power link and the rail network and put forward for discussion at the meetings of the Secretariat".

http://209.85.227.132/translate_c?hl...ixciEI-zzH8txQ

Member of the Finance Committee (News): The government could bridge the fiscal deficit of the funds recycled previous years

A member of the Finance Committee of the Iraqi Council of Representatives Sami Atrushi Bankan that the government fill the fiscal deficit through money recycled to the former Sunni "as he put it."

Atrushi said in a statement singled out by the news agency reported, "must That find a way round this money for one year and will face the problem of Baaltali coming years, either to deal with the deficit, as I said earlier, "The Iraqi government has the solutions to address this issue," he said. Atrushi "relatively high oil prices and access to the 60 dollars will help support the budget more, It is true that did not constitute a revenue of "covering the entire deficit, but many will cover the proportion of the deficit if prices remained high and I expect that this shortfall will be addressed by the previous round of government," he said. "I am not afraid of the deficit in the general budget and there is an effort by the Iraqi government to provide supplementary budget because of high prices, however, did not provide such a view because it was only by the Prime Minister and would fill the deficit through higher prices. "

http://209.85.227.132/translate_c?hl...G5IeKOG69gX1hQ

Prime Minister Nuri al-Maliki meets President of LUKOIL Russian oil

Received the Prime Minister, Mr. Nuri Kamel al-Maliki at his office today, the official head of the oil company Lukoil Russian Mr. Wahid Kabirov.

He stressed during the meeting, the Iraqi government's keenness to develop relations with Russia in all areas and seek to expand in the sectors of oil and trade, construction and armament.

"Mr. Prime Minister: We welcome the work of international companies in Iraq, including Russian companies, Lukoil, and the company at the forefront of companies welcome in Iraq for its highly experienced, and we look forward to expanding horizons of cooperation in the development of oil fields.

For his part, President of Lukoil thanks to the invitation of the Iraqi government for his company to work in Iraq, saying their participation in the first round of licensing the end of this month, and a willingness to support the oil sector and to development in the areas of exploration and refineries and fields.

He also expressed the willingness of the company to continue the training of Iraqi oil in the Russian institutes specialized in the period after its last call (100) Iraqi students in this area.

http://209.85.227.132/translate_c?hl...DjxdNmGmygWP8A

Ministry of Finance announced on the payment of financial dues Kuwait

Baghdad (Iraq News) announced the Iraqi Finance Minister Bayan Jabr said that "Iraq is a dues paid-Arab Investment Guarantee Corporation and Export Credit in Kuwait."

Zubaidi said in a statement today in this regard that "a new impetus paid from the dues of the Republic of Iraq-Arab Investment Guarantee Corporation and Export Credit in Kuwait, stressing the intention of the Ministry of Finance of Iraq to end the file of the debt for the countries and companies."

The statement added that "The Ministry of Finance is seeking to close the file on Iraq's debt, whether of nations or companies Aoualemwssat through meetings and periodic meetings with them."

The minister noted that he had received a letter from the Director-General of the Arab Investment Guarantee Corporation for export credit and thanking him for the follow-up to the Finance Ministry to put an end to the debt of the institution.

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