Thread: Archive News - Iraqi Dinar Think Tank - 08/09/09 - 09/01/10

The Cooperation Council foreign ministers hold a coordination meeting in New York

The Secretary General of Gulf Cooperation Council, Abdulrahman al-Attiyah said foreign ministers of the Gulf Cooperation Council will hold their annual coordination meeting on September 22 (September) in New York on the eve of the ongoing meeting of the General Assembly of the United Nations on 23 September.

Attiyah told «life» that the Gulf ministers will hold a meeting at the end of October (October) the next in Qatar at the invitation of the Prime Minister and Foreign Minister Sheikh Hamad bin Jassim bin Jabr Al Thani, to discuss the vision for Qatar by the emir, Sheikh Hamad bin Khalifa Al second of the leaders of the GCC consultative summit in Riyadh in May (May) last on activating the GCC joint action, especially in the economic, social, security, military, educational and health in the workplace.

Attiyah reiterated before leaving for New York that the foreign ministers of the Gulf Cooperation Council will discuss the coordination meeting in New York next situation in the Middle East and the Palestinian issue and the situation in Iraq and relations with Iran and efforts to combat terrorism and the situation in Sudan and the prospects of activating cooperation with friendly countries.

The foreign ministers of the Gulf Cooperation Council in New York meeting with Secretary of State Hillary Clinton, and another with the foreign ministers of EU countries, also will meet with foreign ministers of ASEAN countries, the Foreign Ministers of India, Australia, Russia, China and Latin America.

Moreover, Al-Attiyah noted b «see Qatar» aimed at activating the process of GCC joint action, saying it «in line with the proposals by the Custodian of the Two Holy Mosques King Abdullah bin Abdulaziz made in the Doha summit in 2007, and consistent also with paper Kuwait on regional and international challenges presented by the Riyadh Summit in 200 ».

And will submit the results of the meeting of foreign ministers of Qatar's vision to the next GCC summit (XXX), which will be held in Kuwait in mid-December (December) the next.

http://www.daralhayat.com/portalarticlendah/56769

Talabani heads to New York to participate in the meetings of the General Assembly

Iran's President Jalal Talabani Sulaimaniyah International Airport Tuesday morning to the United States to attend the meetings of the General Assembly of the United Nations at its fifty-fourth session in New York.

Will deliver a speech Talabani of Iraq in these meetings, in addition to participation in the Socialist International held in New York City, as deputy leader of the Socialist International.

It is scheduled to meet Talabani, during this visit with a number of Heads of State and senior officials involved in these meetings to exchange views on current international issues and bilateral relations between Iraq and these countries.

http://www.radiodijla.com/cgi-bin/ne...?id=2009-09-22

Central Bank warns of further government "pressure" to issue treasury transfers to finance the expenses

Iraq's central bank warned, Sunday, that the continued practice of the government for what he described putting pressure on the bank financing the expansion through the issuance of treasury transfers to finance the expenditure, monetary policy will lose their capacity to use tools to achieve the objectives of stability and will transform the face of inflation and the central bank to finance institution projects.

A statement by the Central Bank received agency Voices of Iraq (VOI) that "the Iraqi Central Bank notes, that the practice of government financing pressure on an ongoing basis to the Iraqi Central Bank through the expansion of issuing treasury transfers replacing the mandatory reserves for banks to finance expenditure, monetary policy will lose their capacity to use its to achieve the objectives of stability and inflation ", which it said was" the country is now experiencing it recently and its associated economic imbalances and large joints was production and living standards to the risk of decay."

The statement warned that "the Central Bank of Iraq then bear the blame for the loss of opportunities for economic balance and stability of the waste of the country because of continued government intervention and negative impacts on the performance of monetary policy."

The statement noted that the Central Bank "and in recognition of the monetary authority of cruel and unusual conditions suffered by the electric power sector, especially facing a dilemma funding for urgent projects, he was able to accept Isaddarip special one-year interest rate of 2% of the remittances of Treasury Bank of Iraq, which in turn bought it from the Ministry of Finance, the substitution of such remittances by 50% of the reserve requirements (legal) of the bank in question and $ 2.7 trillion dinars are converted in foreign currency reserves of the Central Bank of Iraq Foreign Affairs."

He added that "the acceptance of treasury transfers as part of the legal reserve back an exceptional operations handled by the secondary market open that is consistent with the implementation of the functions of monetary policy, and it is one of the operational policies accepted a limited exception, although it is not perfect and can not expand them."

The statement continued, "On this basis, was admitted to practice once and exclusively in accordance with accounts maintained monetary stability at a critical point can not be Beat," noting that "the expansion of the above mentioned mechanism of accepting further treasury transfers replacing the reserve requirements (legal) to finance a series of projects and other sectoral ministries, such as transportation or the Municipality of Baghdad or other, for example, on issues according to how long it rained on the recent Central Bank of Iraq as a means easy financing, will transform the central bank to finance institution projects to replace the investment going forward."

The statement said that it is "the monetary authority will cancel the role and functions of the basic and direct the central bank and duties out of the goals set forth in the law of the Central Bank of Iraq."

http://209.85.229.132/translate_c?hl...uT_s3cbL2ErPZg

Central: negotiations between Iraq and the International Monetary Fund in preparation for the signing of the Convention on the preparations credit

Adviser to the Central Bank of the appearance of Mohammed Saleh, on Monday that the negotiations will take place next week in Amman between Iraq and the International Monetary Fund, as a prelude to the signing of the standby credit rating, which would give Iraq a loan whereby the interest rate of about 1%.

The appearance of Mohammed Saleh told (Voices of Iraq) that "Iraq and the International Monetary Fund will hold talks in Amman next Monday (28 / 9), as a prelude to the signing of the standby fiduciary" under which "will provide the Fund for Iraq, a simple-interest loan of about 1% to stimulate the economy of Iraq."

Salih noted that the loan "will be conditional on reforms in the Iraqi economy is an update of the Convention that has already been concluded and which canceled 80% of the debt on Iraq, which has not completed its provisions fully," citing the example of the "re-Hikap bank governance and Iraq and placing them on the basis of competitive and clean calculate the so-called financial and operational restructuring, "noting that the two banks," Sitholan to deal on competitive basis and in accordance with international banking standards and the safety of high ground."

He added that the banks "in the case of restructuring at the current time and there is a higher committee co-financed by the Central Bank and Ministry of Finance and Office of Financial Supervision," as the Fund's request "a statement in which the number of staff and see if there was more staff were recruited from one place and work is underway to prepare the data needed."

The International Monetary Fund announced on September 11, this month that there was broad agreement between the Fund and Iraq on some areas of the new program of the Fund including the management of public finances and the banking sector, indicating that the mission of the Fund would continue talks with the Iraqi authorities at the end of this month or early October October, and talks will focus on the draft budget for 2010 and the reforms planned for the next two years.

The Fund said that there is good progress during the mission in late July last, where there was broad agreement on the main criteria for macroeconomic and structural reforms, particularly in public financial management and banking sector.

http://209.85.229.132/translate_c?hl...1wnpHPTLHeNx-A

Oil Ministry may continue negotiations with Shell

The Iraqi Oil Ministry may extend the negotiation period with Shell Company to form the Basra Gas Investment Firm, until reaching a final agreement that satisfies all sides.

“The new firm will positively affect the Iraqi economy,” Assim Jihad, the Ministry’s spokesperson, told Aswat al-Iraq news agency on Tuesday.

He said that it will offer natural gas necessary for different industries.

http://en.aswataliraq.info/?p=119323

CBI may reconsider its policy if inflation remains high

An adviser to the Central Bank of Iraq (CBI) on Tuesday said that it may reconsider its monetary policy if inflation rates continue to run high.

“The bank will not change its monetary policy at the time being as it attributes high inflation to the unexpected rise in foodstuff prices, which form 70 percent of consumer expenditure,” Madhhar Mohammed Saleh told Aswat al-Iraq news agency.

The rise in foodstuff prices in August, which hit 10.8 percent, was due to external factors, including desertification and drought, Saleh explained.

“If inflation index remains high, the CBI may change interest rates and exchange rates,” he added.

http://en.aswataliraq.info/?p=119318

Iraq has hopes high on New York meeting

Amidst consensus among internal Iraqi parties regardless of their political and party backgrounds that talks with Syria have reached a deadlock, hopes are high today on the quartet meeting in New York joining Baghdad, Damascus and Ankara under Arab sponsorship.

Cabinet spokesman Ali Al Dabbagh affirmed that Iraq is determined on forming an international commission. Yet, he noted that Iraq wants to pursue talks with Syria calling on Damascus to deal positively with Iraqi demands and hand wanted implicated in last month bombings. Al Dabbagh asked Syria not to stall and not to reject Iraq’s evidence.

Iraqi President Jalal Talabani will represent Iraq in the United Nations General Assembly meetings, Cabinet spokesman told Al Hayat Newspaper denying reports on rows between President Talabani and Prime Minister Nuri Al Maliki in this concern.

Iraqi Vice President Tarek Al Hashemi stressed the importance of moving forward with the establishment of an international tribunal.

This does not mean sabotaging relations with Damascus, Al Hashemi said emphasizing on the importance of bilateral relations with Syria.

In an address after one month of gory explosions against the Foreign Ministry, Iraqi Foreign Minister Hosheyar Zebari affirmed that the government is deploying its utmost to uncover the truth and bring perpetrators to justice for prosecution.

Al Daawa Party MP Kamal Al Saadi considered that talks with Syria have reached a deadlock since Syria has rejected evidence and imposed unbearable conditions, he added.

There is no other way but to refer to the United Nations and form a neutral investigation commission, Al Daawa Party uttered.

However, Iraq will keep dialogue open before Syria, Al Saadi clarified noting that the international investigation will consider regional interferences in Iraq and recent terrorist crimes.

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

Iraq will demand the United Nations to end sanctions imposed on compensation for the invasion of Kuwait

Vice President of the Kurdistan region of Iraq Rasool said Iraq will demand through participation in the sixty-sixth session of the General Assembly of the United Nations to end sanctions and debt cancellation imposed under Chapter VII of the Charter of the United Nations in compensation from Iraq's invasion of Kuwait in 1990.

The Messenger who was accompanying Iraqi President Jalal Talabani in his visit to New York in a press statement transferred reporter said that "Iraq will demand during the meetings of the General Assembly of the United Nations to write off the debt and end the compensation imposed under Chapter VII," adding that " sanctions unjust."

Iraq now and pay 5% of the proceeds from oil sales to a special fund at the United Nations as compensation for the invasion of Kuwait in the era of the former regime in 1990, but Baghdad is demanding to reduce the ratio to 2,5%, and calls upon the UN Security Council passed a resolution confirming that Iraq no longer represents a threat to international security.

And Iraq has already paid more than $ 13 billion in compensation to Kuwait and what still needs to pay more than $ 25 billion, as well as debts owed an estimated $ 16 billion.

The Special Fund of the United Nations approved sanctions on Iraq up to $ 52 billion, including $ 36 billion for Kuwait.

http://209.85.229.132/translate_c?hl...E0lSstJQG6gaNg

Update......

Central Bank: the practice of government financing pressures on the bank will lose their capacity to cope with inflation

A statement by the Central Bank, the continued practice of the government to pressure the bank financing the expansion through issuing treasury transfers to finance the expenses of monetary policy will lose their capacity to use tools to achieve the objectives of stability and will transform the face of inflation and the central bank to finance institution projects.

The statement, obtained by copy of "The pressure exercised by the Government funding on an ongoing basis to the Iraqi Central Bank through the expansion of issuing treasury transfers replacing the mandatory reserves for banks to finance expenditure, monetary policy will lose their capacity to use tools to achieve the objectives of stability and inflation".

The statement added that "the country is now experiencing it recently and its associated economic imbalances and large joints was production and living standards to the danger of deterioration and in recognition of the monetary authority of cruel and unusual conditions suffered by the electric power sector, especially facing a dilemma funding for urgent projects, he was able to accept private Isaddarip one-year interest rate of 2% of the remittances of Treasury Bank of Iraq, which in turn bought it from the Ministry of Finance, and the establishment of such remittances by 50% of the reserve requirements (legal) of the bank in question and $ 2.7 trillion dinars are converted in foreign currency reserves of the Central Bank of Iraq Foreign Affairs."

The statement noted that "on this basis was accepted this practice once and exclusively in accordance with accounts maintained monetary stability at a critical point can not be Beat," indicating that "the expansion of the above mentioned mechanism of accepting further treasury transfers replacing the reserve requirements (legal) to finance a series of projects and other sectoral ministries, such as transportation or the Municipality of Baghdad or other, for example, on issues according to how long it rained on the recent Central Bank of Iraq as a means easy financing, will transform the central bank to finance institution projects to replace the investment going forward."

http://209.85.229.132/translate_c?hl...y8dVukn_R1YoTA

General Authority for Investment: A. investment opportunity will be presented at the Washington conference next

A member of the Investment Authority, Ibrahim al-Baghdadi, said the Investment Authority has prepared nearly a thousand investment opportunity to view the article in the Washington conference next year.

Al-Baghdadi added in a press statement that the Authority has prepared a brochure map of these projects in both Arabic and English, adding that the Iraqi delegation will attend the Washington conference will bring together many of the ministers and officials and specialists to ensure that the answer to all queries to be presented at the conference directly.

Noting that the conference will be held on 13 October and continue until 21 November, and attended by more than 50 businessmen and will be the largest of the London Conference and will increase the number of participants in this conference for a thousand people.

http://radionawa.com/Ar/NewsDetailN....472&LinkID=105