Thread: Iraq/Dinar News. 09/05 to 01/14/07

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Economic : the investment climate to attract workers for the entry of foreign capital

Imad Principality Investment climate conditions affected the political, social and institutional development in the host country, These factors have a significant impact as a unit of overlapping can not downplay their significance. In this direction pointed financial expert in the Ministry of Finance (Hilal war) to several factors affecting the (investment climate), including in Iraq, the lack of supporting institutions for a market economy The fact that the existence of such institutions is working to attract foreign investment and the instability of the political situation and security is one of the determinants facing the entry of foreign capital to a country in Iraq, for example, takes this side of 30% - 40% of project expenditures operating in the country. March and investment in Iraq despite the attention given to the importance of foreign investment, through laws before the fall of the regime, as well as by the authority (the occupation) after the events of 4-9-2003 and submission of the proposal (text) Foreign Investment Law No. (39) for the year (2003) and to facilitate the attraction of foreign investment, which stated (that facilitate Alastth foreign Mar will help develop The infrastructure and increase the growth of Iraqi industries and contribute to the creation of jobs and increase capital Finance and result in the entry of new technology Iraq's). Hilal pointed to the fact that security was heavy shadow on the march and got several international meetings on this subject and promises to invest 38 billion dollars did not receive the state only a little added through the frameworks discussed in the economic, social and particularly in the economic structures and conditions of the economy Yeh prevailing in the country and the range of development must focus on basic infrastructure in Iraq, such as health, education and means of communication, water and sewage networks, electricity and other services which are pillars to be fulfilled in any process they play an important role not only in determining the investment volumes as a the polarized in host economies and even distribution between sectors and this has made many nations in a competitive race to attract (foreign investment) through direct facilities without extensive consideration of the social effects resulting from the lack of proper planning to pay many of the economic institutions for Pththi R. Governments led astray by those policies and social impact (Helal) described the environment as a paramilitary Iraqi infrastructure destroyed therefore the responsibility rests on the planned mission in the Iraqi economic consideration of the reality of the Iraqi budget in the process of attracting foreign capital through programs that the Iraqi economy and the promotion of modernization and merging the global economy, according to legislative axes that are flexible, attractive and the creation of (economic environment for investment) and requires that work according to several factors, including the stabilization of the Iraqi currency (the dinar) because studies proved the existence of a negative correlation between the exchange rate and the flow of foreign investment because of exchange rate exchange lead to the rapid changes in the relative profitability of investment returns, the strongest factor is the reduction of (inflation), which in turn affects the movement of capital as it affects the production costs and profitability of the market and the investment climate studies conducted over 54 developing countries emerged that there was a negative correlation between high rates of inflation and foreign investment because of the weakness of the economy in the host countries, which poses a threat to investors and then work on the development and promotion of exports, especially non-oil and reorganization (of the banking system) to meet the economic conditions of local and foreign work on controlling the deficit in the (budget) of the Iraqi State and mitigation of (foreign debt) and to develop the infrastructure and facilities insisted Yueh in the Iraqi economy as well as that we should find new incentives commensurate with the needs of investors and implementation of promotional campaigns to identify the advantages and the attractiveness of investment in the host country (Iraq) ... ( Hilal) said that foreign investment is affected by the extent of political stability in the host country that the political factor more a factor dummy to take different (private investment decisions), and even the Assembly and the fact that this is a group of several risks in the investment process, including (nationalization, the confiscation of private property, government intervention in economic activity) and this impacts negatively on building economic projects and create obstacles to attracting foreign investment.

Views : draft national reconciliation

The latest Abdel-Daraji When put on the national reconciliation by Prime Minister Nuri al-Maliki received the good luck of welcome and optimism of the broad spectrum of the Iraqi people and across many Iraqis who want to see homeland security stable their joy and happiness. The same time the project's criticisms were mostly designed to abort it and strip it of its content rather than its development and success. Some said that the American initiative, aim to save the United States from the quagmire in Iraq. , which is trying to get at any price until If it were a reconciliation with the Al Qaeda and the Baathists. Some of them said that the draft put forward by the Iraqi Coalition for the placement of all who oppose him and the political process. And that the project will open the door for domination and manipulation of the strong parties within the coalition. Some people refused, some earlier. Others reservation and an assessment of the project say that many of the opponents of the political process to Aidrkon that the political process is, Participation means accepting assets and the rules of the democratic game from victory and the defeat and the loss of a particular election does not mean losing everything. Win and loss due to the views of voting and participation in the political process does not necessarily mean participation in power. While insisting on the participation of authority and minor erroneous understanding of the fundamentals of the political process Vojodk outside the government or outside the executive organs had Emenhek position or a stronger. This has been achieved and you are outside your organs of government and vice versa Vojodk within the ruling bodies may weaken your position, in fact, that this was one of the most complex problems of the political process now, insistence everyone to participate with the government led to the establishment of the government of national unity is a very lean government includes forces from the extreme right to the extreme left of the different trends and forces between them. Only in this case the security situation deteriorated stands at the top of this government work for the success of economic success without security and political, social or service without security, How can this case, the government must move quickly to fight the terrorists who change their places and their plans very quickly, which requires flexibility and lightness to the government. There are contradictions and discrepancies and many restrictions imposed on the government of Mr. Maliki. Those same problems and disparities and constraints suffered by the draft national reconciliation some of the signatories aim was to abort it from the inside through the skepticism of others and distribution charges them as a factor in the destruction of Iraq and of course that the devastation large part out of their hands. We have led the government of Mr. al-Maliki of their duties and made many concessions. Whereupon the release of the detainees. Refused to crack down and sweep also allowed cities and engaging the armed groups are mostly military wing of the strong participation in the political game. The government turned a blind eye to what was done in those armed groups during the past three years. All this for the success of the draft national reconciliation and stop the bloodshed in Iraq. Due Mr. Maliki what can and all the supporters of the reconciliation efforts and sacrifices. But, after three months on a project of reconciliation and hard work by Mr. al-Maliki and crew. Does the other party to the responsibility. Are they willing to lay down their arms and join the political process gives one a voice and every citizen in this country. Does the other party has put forward a draft national reconciliation and the future of the concessions that he was capable of doing that? This is a sample and entered his heart and mind? After three months, it was possible to say both ... No prove the other party and therefore successful. After three months increased terrorist operations increased markedly and the deterioration of the security situation than it had been before putting the project and the day after another reveal Al-Qaida's ability to penetrate government bodies and three months after becoming can also be said that the draft reconciliation need to stop and reflect and management and reschedule more than a j other time was firmly on the order of priorities is firmly on the force, especially since improve the security situation was at the top of the draft reconciliation is aimed at ultimately. At a time when the government lifted an olive branch. In lifting the arms waving with the other and force those who do not understand them only. To expedite the rehabilitation of the security forces and increasing the number and capabilities. Because it is the way to preserve Iraq is the way to restore the lost prestige of the State and below will be subject to various risks. Provide political and legal support them because many of those forces operate without that support, which led to paralyzing traffic, capacity and effectiveness and then by patience and wait after that led their duties and their concessions. The draft of the Aahd deny some successes. As do the people and the elderly in Ramadi obliged to base and the terrorists there and request the support backing of the government. With Maishklh of real blow to the rule, It is speculated to be successful. It was the base of the headquarters of Anbar, prestige and a springboard for their operations. All of this thanks to the draft reconciliation and a lot on the road, such as those successes. All of this thanks to the draft reconciliation. But it requires patience and effort and an ongoing assessment.

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Originally Posted by Adster

Its about the Compact US Treasury Aide: International Econ Aid Plan For Iraq Being Prepared

WASHINGTON -(Dow Jones)- A plan to boost international economic aid for Iraq is getting ready to make the rounds with potential donor countries, a senior U.S. Treasury Department official said Tuesday.

The plan, called the Iraq compact, would lay out a roadmap and cost estimate for Iraq to rebuild its economy over the next four to five years. It would require certain economic reforms from the Iraqis, while bringing economic aid in return from signatory countries to help finance Iraq's recovery.

"The Iraqi side of the compact is essentially written," said Deputy Treasury Secretary Robert Kimmitt in a meeting with reporters.

In recent meetings at the United Nations, dozens of nations and organizations have begun to discuss "what the donor strategy would be as we move to the next step in the process which would be a ministerial level meeting," in the Persian Gulf region sometime next week, Kimmitt said.

And while the finished compact will detail the medium-term financing needs for Iraq's economic development, those figures haven't been finalized, Kimmitt said.

Whatever those final needs are, Iraq will be expected to first use its own resources to finance the rebuilding effort, followed by drawing down any unused economic assistance, before looking to new international economic donations.

"In the compact there will be a number of provisions aimed at encouraging foreign investment," Kimmitt said.
Nasdaq 100 Flash Quotes&
and
Morningstar - Dow Jones & Company, Inc.: US Treasury Aide: International Econ Aid Plan For Iraq Being Prepared

I believe officials said "The Compact" will come within 6 weeks, we are about at 5 weeks now.

The compact's members have pledged to provide Iraq with financial, technical and political support to overcome all current difficulties.

"Mindful of the urgency of rapid progress and firmly endorsing the compact as presented, the formal adoption of ICI is scheduled for a high-level event during the next six weeks," explained the communique.

It was sign on Oct. 31 - 6 weeks is Dec. 12 they have less then 4 weeks - but the word "during" and everything that is happening at CBI sure makes you go hmmmmm

GREAT FIND ADSTER - Do ya feel it??

FARM JIG EVERYBODY!!!!!!!!!!!!!!!!!!!!!

http://today.reuters.com/news/articl...1-ArticlePage1

Iraq economy plan nears donor stage -US Treasury
Tue Nov 14, 2006 6:11pm ET
By David Lawder

WASHINGTON, Nov 14 (Reuters) - Donor countries helping Iraq rebuild its economy plan a meeting of ministers in December to hammer out details of aid and debt relief pledges, a U.S. Treasury official said on Tuesday.

Deputy Treasury Secretary Robert Kimmitt said the meeting, likely to be held in the Gulf region, will be an important step in defining the International Compact with Iraq, a U.N.-sponsored initiative to provide reconstruction aid in return for economic reforms.

"I think what this will be is a ministerial-level meeting to discuss the compact as it now stands and I would imagine that there would be discussion at that meeting of what individual countries would do, say, in the form of new assistance, debt relief, or other ways to help the Iraqi economy," Kimmitt said.

However, he said it was not yet clear yet whether donors would be ready to sign pledges under the compact.

Donor country officials first met in September and representatives from 75 countries and international organizations met again Monday at the United Nations to discuss the draft of the compact and strategies for securing aid funds.

An Iraqi government spokesman said last month the country needs around $100 billion over the next four to five years to rebuild its infrastructure, which has suffered from decades of sanctions and war under Saddam Hussein, as well as from the U.S.-led invasion in 2003 and the ensuing violence.

Iraq, a major oil producer that sits on the world's third-largest reserves, had expected billions of dollars in foreign funds to pour in after Saddam was toppled.

But foreign companies have largely stayed away due to relentless bombings, shootings and kidnappings and oil production has been hit by frequent sabotage

Kick-starting Iraq's oil-dominated economy is seen as crucial to create jobs and ease unemployment -- running at 50 percent by some Central Bank estimates -- which officials blame for swelling the ranks of insurgents

Kimmitt said that although Iraq's commitments under the compact have not been released, a key component will be a law to regulate the oil and gas industry and equitably distribute oil revenues based on population throughout the country.

Most of Iraq's oil reserves are in regions dominated by southern Shi'ites and northern Kurds. The bill aims to guarantee central Sunni regions their share of oil wealth.

The bill, still under debate within the Iraqi government, also is expected to set rules for contracting with foreign investors to modernize Iraq's oil industry, Kimmitt said.

http://today.reuters.com/news/articl...1-ArticlePage2

News
US Treasury Aide: International Econ Aid Plan For Iraq Being Prepared

WASHINGTON -(Dow Jones)- A plan to boost international economic aid for Iraq is getting ready to make the rounds with potential donor countries, a senior U.S. Treasury Department official said Tuesday.

The plan, called the Iraq compact, would lay out a roadmap and cost estimate for Iraq to rebuild its economy over the next four to five years. It would require certain economic reforms from the Iraqis, while bringing economic aid in return from signatory countries to help finance Iraq's recovery.

"The Iraqi side of the compact is essentially written," said Deputy Treasury Secretary Robert Kimmitt in a meeting with reporters.

In recent meetings at the United Nations, dozens of nations and organizations have begun to discuss "what the donor strategy would be as we move to the next step in the process which would be a ministerial level meeting," in the Persian Gulf region sometime next week, Kimmitt said.

And while the finished compact will detail the medium-term financing needs for Iraq's economic development, those figures haven't been finalized, Kimmitt said.

Whatever those final needs are, Iraq will be expected to first use its own resources to finance the rebuilding effort, followed by drawing down any unused economic assistance, before looking to new international economic donations.

Nonetheless, the expected ministerial-level meeting next month would likely include discussions of "what individual countries would do, say in the form of new assistance or debt relief," Kimmitt said.

But he held out the possibility that aid pledges could be made at the coming meeting. "Whether it would actually be a pledging conference...depends on the progress that is made between now and then," Kimmitt said.

He said some of Baghdad's expected obligations under the agreement would include a requirement that Iraq pass legislation that would equitably divide the nation's oil wealth by population throughout the country.

"In the compact there will be a number of provisions aimed at encouraging foreign investment," Kimmitt said.

-By Benton Ives-Halperin, Dow Jones Newswires; 202-862-9255; Benton.Ives- [email protected]


(END) Dow Jones Newswires
11-14-061712ET
Copyright (c) 2006 Dow Jones & Company, Inc.

Nasdaq 100 Flash Quotes

Originally Posted by MrsCK

The compact's members have pledged to provide Iraq with financial, technical and political support to overcome all current difficulties.

"Mindful of the urgency of rapid progress and firmly endorsing the compact as presented, the formal adoption of ICI is scheduled for a high-level event during the next six weeks," explained the communique.

It was sign on Oct. 31 - 6 weeks is Dec. 12 they have less then 4 weeks - but the word "during" and everything that is happening at CBI sure makes you go hmmmmm

GREAT FIND ADSTER - Do ya feel it??

FARM JIG EVERYBODY!!!!!!!!!!!!!!!!!!!!!

For sure Mrs!!! 12 December also fits in with the IAMB Meeting.......

Originally Posted by kiko

Japan intends to offer a loan to Iraq
14/11/2006

The Japanese Ministry of Foreign Affairs announced that its country intends to offer a loan to Iraq worths 20199 million Japanese yen for the development of engineering services in Basrah Refinery project and rehabilitating the fertilizer plant in Khor Al-Zubair.

http://www.iraqdirectory.com/DisplayNews.aspx?id=2578

In US$ the loan offered by Japan would be $171,550,107.00 or in IQD it will amount to IQD 249,605,405,685.00

Wolfowitz : Iraq needed more advice from his need for money
15 / 11 / 2006
Strasbourg (France) (Reuters) - Paul Wolfowitz, President of the World Bank on Tuesday that Iraq needs the advice of the need for more money from international donors to rebuild its institutions. He added Wolfowitz, which has plans to open a permanent office of the World Bank in Baghdad to coordinate aid donors that Iraq is not the best use of funds obtained by already. His "I do not say they do not need the money but they have a lot of money but is not being used in an appropriate way and they know it." He informed the European Parliament Development Committee, "What they need is assistance in the building of institutions and better management of public finances, and advice on how to manage the oil sector better. And I think they need to assist in the management of social safety nets. This policy advice, not money. " He added that he did not know what steps to be taken by the United States in Iraq after the Republicans lost the majority in Congress in the elections which took place last week, with among other reasons due to voter dissatisfaction of the American policy of the administration of President George W. Bush's Republican on Iraq. He said Wolfowitz, "I do not know how to change the policy of the United States in Iraq. I know they will not come to the request of my opinion. " He added : "I am not informed enough on political and security issues even give advice unconvincing." It was Wolfowitz, the deputy American Defense Secretary Donald Rumsfeld, resigned during the Iraq war and a prominent defender of the war. Rumsfeld, who resigned after the defeat of the Republicans in the elections of the Congress term. He promised the Democrats who control the Congress, starting from January January conducting audits of strong American policy on Iraq, including the programs of reconstruction and stabilization after the war.

marsadiraq.com

The Council of Ministers authorized the Minister of Finance the power to negotiate
(Voice of Iraq) - 11-15-2006

The Republic of Iraq
Council of Ministers-the governmental communications
Media Relations
Press Release Press release /
Wednesday, 11-15-2006

The Council of Ministers authorized the Minister of Finance the power to negotiate and Altutekaya
The Convention on the Japanese loan to Iraq

The Cabinet decided during its fourth ordinary session, held on the 9th of this month. authorize the Minister of Finance the power to negotiate and sign the loan agreement for the Japanese Iraq.

Sotaliraq.com

http://www.izdihar-iraq.com/news/PDF...14_roundup.pdf
IZDIHAR
ROUND-UP
Iraqi Business News, November 8 – November 14, 2006