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

The challenges of the investment

Foreign investment is of great importance in achieving the required development in light of the bitter reality of knowledge of the national economy.

The funding is the main stumbling block in front of the stone to achieve growth, but these funds are not the only reason for a stalled construction and reconstruction, but the other challenges facing this project. Iraq has suffered from a lack of technical expertise and engineering, especially in the levels of resolution and this deficiency leads to the need for the expertise of the Global Advisory due to the interruption of Iraq's development in the world for more than a decade.

If we double the investment culture called the fellow, the editor-in-chief of the phenomenon stress the lack of expertise and planning and the absence of diagnosis of the real needs of Iraq in accordance with the importance of the sequence as required.

That the need is necessary to attract foreign investment and with the urgency of the need for legislation, laws and institutions, the guarantor of the rights of the investor who will bring money to proceed with the construction and reconstruction.

If we want to build Iraq, we leave the conflict side at the expense of the time that Iraq needs to rebuild it.

The real need for us to overcome and overcome the challenges of the investment return to the thinking and planning, aimed to build a proper home.

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Wael Abdul Latif, is proposed to cancel the ration card & allocation of funds to poor families

Proposed member Wael Abdul Latif, the Iraqi Council of Representatives the abolition of the ration card, which promise to burden the government and blamed the reasons for his proposal to the senior management of widespread corruption in the Ministry of Commerce, as well as some families are not benefiting from the ration also called for the transfer of funds expended on the importation of ration given to the families of the poor.

Abdul Latif said in an interview with regard to the (Media Center of the communication) on Friday morning that the Iraqi government, the abolition of the ration card is gradually starting from the staff members who receive high salaries and therefore the least, and so on.

He added that administrative corruption has increased in this area has been badly affected by the state budget in the shadow of the current financial crisis, which has a large state enterprise.

And Abdel-Latif said funds allocated for the importation of ration will be of greater benefit if Almtafvp distributed to families in the form of monthly salaries.

For their part, citizens rejected the proposal of MP Wael Abdul Latif, they ration is an urgent need for the Iraqi people because of the low salaries in relation to the rising prices in general.

The carpets on the citizen of the inhabitants of Basra province, that there families will be affected by such a proposal because they are unemployed as well as the lack of access to material aid, social welfare and questioned Almtafvp families in receipt of funds from the government, if implemented, this resolution.

The backbone of the (government employees) Alihump that the elimination of administrative corruption in the ration, rather than supplanting the detriment of the citizens to do so.

The House of Representatives has decided to withdraw a few days ago the ration card of the staff of the higher-income people pay a million and a half older who saw the need for non-quota supply.

http://209.85.227.132/translate_c?hl...ev571J8BT52NPw

Signed a new agreement between Iraq and the International Monetary Fund

He and the Iraqi Finance Minister Bayan Jabr said Iraq recently signed a new agreement with the International Monetary Fund.

And the transfer of the Information Office of the Ministry of Zubeidi during his meeting with a delegation headed by French Bijermorleafat President of the French economic mission in the Middle East, saying that "Iraq's financial policy based on science advanced, benefiting from the experience provided by the International Monetary Fund and World Bank."

Zubaidi said that the recent talks in Amman with the Fund resulted in the signing of the Convention was supported by the support of the Iraqi economy, the statement said.

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Parliamentary meetings - Cabinet to discuss strategies for the country's future

In order to unify the efforts to meet the challenges of security, political and economic, to be held in Baghdad, several meetings during the next term of a number of ministers and parliamentarians to discuss the strategies necessary for the country.

The parliamentary source said that bilateral cooperation between the legislative and ****utive branches will be the focus of these meetings the President the task.

The source, who spoke on condition of anonymity that the meetings will be held consecutively and the files will be oil and water, agriculture, industry and electricity, in addition to investing strongly present during the talks.

The House of Representatives and the United Nations Assistance Mission in Iraq's (UNAMI) had last week signed a two-day conference in Baghdad, under the title "The Future of Iraq", was devoted to discuss the issue of sharing and imports of oil, gas and water.

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The implications of withholding the ration card for people with middle-income

Iraqi markets during the last two days of confusion, with some primary markets, the main trade of processed food Tllk on the sale of basic materials in large quantities, Valskr witnessed a rise in oil prices also increased prices of rice and flour for a small percentage may be much higher in the coming days after the news leaked out on the proven the abolition of the ration card for people with middle income and above. Economy and Administration College of Baghdad University, analyzed it as an inevitable result of an ill-read and support them in advance, a non-cancellation of ration cards for those who have incomes of more than a million and a half million dinars per month.

commercial goods and food, they will start as soon as the application is the Secretariat of the Council of Ministers directed the Ministry of Commerce of the branches to provide full names of the desolate area covered by the program of the ration card which is staffed by Iraq since 1991, this program organized trade between Iraq and other countries following the economic blockade, which struck him since that period, the outcome of the symposium was on the first two positive and two negative, Dr. Hadi Yasser economics professor explained that the positive side is to reduce government expenditures and reducing the rates of corruption, which accompanies or interference This program, as it put an end to the equality of poor families and owners of low-income owners of large incomes, but the negative side is the confusion which would befall the Iraqi market, especially Iraq and the dealers are not the appropriate level of awareness of the economic to accept such decisions or laws, and the proof is that the de facto Central Bank of Iraq has reduced to a week Only one per trading cards prices, increased foreign monetary exchange rate of increase up to 4% in a couple of days, and known to the Iraqi market they receive higher prices, and changes shall be consistent on the crisis of high prices, and Prof. Dr. Musa al-Jafar, he indicated that there are steps to be followed preceding the cancellation of these articles for the category may be relatively large, the media side, which was supposed to precede the announcement of the economic decision that had to be extended for a long time at least three months, eight was the most appropriate and most likely increase the prices they sell for the ministry of food income-earners covered by the ration cut, to receive the ministry is a major financial control and stay on the food market and food security rather than the authority of her own merchants, and also convinced of the large income that he had bought food from the market or received from the ministry it is the same and thus ease the severity of the trauma on the citizen and the markets at the same time. He adds that the economic category, which will prevent the receipt of the ration will be the basis of the staff who have no restrictions on the ratios of ministerial salaries are the owners of the fourth degree and weight, and the rest of the non-governmental organizations in the records of the salaries they can escape of the answer and it is difficult to know the true proportions of their incomes, as we know it will be recommending them and determine their income is the municipal councils and these councils have been a failure to grant the salaries of social protection for the recipients and also found that there is integrity in the program of corrupt social protection or social protection network by 54%, How will these boards scattered across the country, rates of accurate information on the incomes of citizens.

Tax officer explained the tax accounting department at the Directorate of Tax Rusafa Alavan Salloum said the tax accounting is still hampered in the ability of the taxation departments to control the taxes and there is no law governing the citizen, or be forced to accounting for income tax or employment tax or real estate taxes are to circumvent the registration of the real estate and the names of family members for tax evasion, and there are many other areas that can not be limited to showing the extent of decline in rates of import taxes and the fogginess of the work of those departments, and thus confirms that the Ministry of Commerce is not able at this time at least to control and limit the entry of nationals of non-staff as long as it does not have Exact information base and integrated. Chorjp traders in beautiful movement began rapidly to access to Arab and foreign companies ready to do business for the supply of food fill the need that will arise from the cancellation of the share of middle-income, merchant Skp on to say: he is now preparing to enter a partnership with the Jordanian dealer for the processing of traders in the interior with flour, sugar, rice, cooking oil, tea has began showing signs of rising demand and are now receiving calls from dealers nationwide for booking their own shares, especially after they became aware of the certainty that the ministry is going ahead with its decision.

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Increased risk on the oil contracts in Iraq after the revolt the oil sector

The insurgency in Iraq's oil sector, controlled by the state and the growing pressure on local Minister of Oil, more risk on special agreements giant oil fields on which they intend Major oil companies bidding to win the development later this month ..

May find themselves owners of the winning bids idle because of partnerships with non-Iraqi parties Willing to cooperate in each of the country's northern Kurdistan region in the south, following the Criticism of the agreements ..

And not to a major global oil companies little choice but to compete in any event, even Contracts for fear they could be a drain on resources ..

The Alex Foundation Masarun analyst at Wood Mackenzie, "There are a lot of But the size of the potential risks before the largest reserves of any other reserves in the World . .

"It is for this reason alone would be all the major oil companies that compete Projects".

It is the intention of Iraq to establish a bidding round, especially on the service contracts of six of the largest fields Oil on 29 and 30 June represents the first major opportunity in decades for the exploitation of the third Largest oil reserves in the world. he trip includes a non-gas fields are also taking advantage of ..

The round is the cornerstone of Iraq's plans to increase production to six million barrels Per day from 2.3-2.4 million barrels per day in five years. Iraq needs to Oil revenues to rebuild after decades of conflict ..

It is due to Oil Minister Hussain al-Shahristani, a parliamentary questioning on Tuesday. And questioned by some in the lower house of parliament that the contract is in the interest of Iraq and want to To oust him ..

The recall came after the parliament for Shahrestani objected to the Southern Oil Company, which produces Most of Iraq's production of crude oil on the first round of the award of contracts because it Producing fields, including the Iraq spent nearly eight billion dollars since the invasion The U.S. in 2003 ..

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Originally Posted by Seaview

CBI decided to raise dollar sales commission by 116%

The Central Bank of Iraq (CBI) decided to raise the commission of its dollar sales to 13 dinars per dollar (an increase by 113%) as of next Monday to cover the cost of transportation, shipping and insurance, CBI’s adviser said Friday.

“The Central Bank of Iraq decided to raise its commission to 13 dinars per dollar as of Monday (June 22),” Mudhir Mohamed Saleh told Aswat al-Iraq news agency.

The Central Bank of Iraq was getting a commission for dollar sales of six dinars per dollar during its five sessions every week and three dinars per dollar for foreign transfers at a stable exchange rate of 1,170 Iraqi dinars (ID) per dollar.

The commission increased by 116% compared by the last commission.

http://en.aswataliraq.info/?p=114883

Update......

Central raising cash sales commission from 6 to 13 dinars starting from next Monday

adviser to the Central Bank announced the appearance of Mohammed Saleh, on Friday, the bank decided to raise the price of the cash sales commission of up to 13 dinars per dollar, instead of six dinars (up 116% of $) starting from next Monday, so as to cover the cost of transport and shipping and insurance.

The appearance of Mohammed Saleh, told Voices of Iraq (VOI) that the central bank "has decided to raise the value of the cash for the sale of up to 13 dinars per dollar, starting from next Monday (22/6/2009)", indicating that the decision was made to "cover the cost of transport and shipping and insurance. "

Receive the Central Bank through its five weekly meetings for the sale and purchase of foreign currency, six dinars per dollar for the sale of cash and three dinars per dollar on remittances, and at the basis of 1170 dinars per dollar.

The new increase in commission per sale cash 116% of the amount of the previous commission.

The benefit of that "cash sales commission will be higher than the commission on money orders, because the bank bears the expenses for the import of expensive currency of the United States, especially the cost of insurance, because it is very high in Iraq."

The Chancellor also took the decision to "encourage the banks to get cash from outside the country to the fact that remittances from abroad is very strong by those banks," and that "monetary demand for the dollar was very high during the past period and current period, because of the need for trade finance the border with neighboring countries and that the purchases to be paid in cash only, as well as the presence of minor pilgrimage season, which had high turnout by the Iraqis, as well as the season of religious tourism and leisure, which contributed to an increase in the demand for the dollar in cash. "

On the impact of increased exchange rate commission said that "additional commission amounts are not large and will not affect the exchange rate, and central to the ongoing monetary policy to ensure that the national coverage of the local currency rate of 100% of foreign exchange, with the guarantee of freedom under the law of foreign-exchange" .

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Iraq Central Bank to issue treasury bills worth $2.4 billion to finance electricity contracts

The parliament has authorized the Central Bank to issue treasury bills to raise $2.4 billion for the Ministry of Electricity, a parliamentary source said.

The source refusing to be named said the money will be specifically used to finance contracts by the ministry to boost power supply in the country.

Power output is still below pre- 2003-U.S. invasion rates despite the funneling of billions of dollars into the national grid.

The bills will be sold on domestic markets and investors are promised an interest rate of at least 2% and the possibility of recouping their cash in one year.

Iraqi private banks will have the chance to take part in issuing the bills.

The money raised will be in local Iraqi currency the dinar and the Central Bank will deposit it on behalf of the Electricity Ministry in dollars.

The decision will effectively suck huge amounts of money out of the system in the country – a move which the government hopes will reduce inflation and strengthen the dinar.

At current exchange rates the sum of $2.4 billion is worth 2.8 trillion dinars.

http://www.azzaman.com/english/index...-20%5Ckurd.htm

Parliament: Foreign Affairs to discuss a plan to exit the country from the seventh item

A member of the Foreign Relations Committee, Tania Talat, on the parliamentary committee held extensive meetings with representatives from the Ministry of Foreign Affairs to discuss the ministry's plan to exit the country from the end of Section VII of this month.

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Turkish investors willing to contribute to rebuilding

Several Turkish companies have expressed their willingness to invest in Iraq, particularly in the reconstruction of shopping centers, the Chamber of Commerce in the Turkish city of Izmir said on Sunday.

“The director general of the foreign economic relations department in the Iraqi Ministry of Trade, Raad Khayrallah al-Asadi, met with the commercial attaché in the Turkish embassy in Baghdad and a representative of the Chamber of Commerce in Izmir to discuss investment opportunities in Iraq,” according to a statement released by the ministry and received by Aswat al-Iraq news agency.

“Asadi sensed a great willingness on the part of the Turkish side to invest in Iraq,” the statement noted.

“Investment will be of great benefit to both investors and Iraq. The department will make all effort to remove obstacles facing these companies,” the statement quoted Asadi as saying.

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