Thread: Archive News - Iraqi Dinar Think Tank - 01/10/09 - 27/03/10

The annual budget did not meet the needs of economic transformation

Confirmed member of the Finance Committee in the House of Representatives is full of Baldawi need to provide all facilities to attract foreign investment. For the development of the reality of economic and service sectors dilapidated.

Baldawi said in an interview (morning) when he attends the investor to the country, carrying his wealth and expertise developed. Face often many problems. The first is disabled and the problem of land ownership of investment projects.

That has pushed investors to change the part of investment towards countries more responsive to the realities of investment and its importance in the development of economic reality and service to the country. She added that the Economic Committee in the House of Representatives on the general planning of the economic process.

Kalptaqp ration and its attendant problems. As well as the laws on investment. And privatization. And find ways to state-owned enterprises. In addition to the laws of economic reform in general. She noted that the Economic Commission sought the direction of economic laws. But interest in the House of Representatives was focused towards the laws that help to address the security problems. Today has been a mechanism to categorize the laws to be discussed by the importance that support multiple revenue and move the wheel of production. Where work is to pass important laws quickly. Baldawi pointed out that the economic laws are not free of political disputes. And the law not be successful finds hamper not find its way to traffic.

They noted that the most important laws concerning citizens in consumer protection law. As well as adjustments made to the Investment Law. As for the issue of the budget said: "The annual budget for Atalpi the needs of economic transformation and to extend my economic policies and priorities and therefore not offering the submission of the budget strategy for 3 years must be preceded by providing clear targets and specific and seek to implement the strategic plan and are reflected in their doors as a reduction of inflation to a target after 3 years This is required to display the foregoing is us now and what mechanisms of assistance to reach the goal. The economic growth is required to display this level of growth achieved now and what are the challenges and Maalnspp target.

Support mechanisms for the transition to a market economy: Determine what mechanisms and what are the determinants and constraints and where we want to access. In addition to working to reduce unemployment through the substantive discussion of the issue of unemployment based on her international profile and descent that were produced by national surveys and reports are not international and treatment and what the priorities of the target. And the promotion of the private sector as well as the promotion of decentralization and stand at the obstacles and what are the lines between the powers is transferred everything to the provinces, do we agree on to keep the oil wealth, however, the center? What we want to achieve after 3 years.

We must show the State's policy is evident in the doors of the budget if the state was heading towards a reduction of the operational direction of investment allocations should be reflected in the increase of quotas for schedules and clear strategy and if state policy to support a particular sector must increase its appropriations to show that investment. It is noteworthy that the doors and customizations that have emerged for the years 2010-2012 within the budget strategy is the same that has been the Ministry of Finance submitted unchanged despite the observations mentioned in the reports of the Ministry confirms the event of conflict between them.

http://www.alsabaah.com/paper.php?so...page&sid=96573

Central Bank, Monetary Policy, Implications of absolute freedom of transfer of the external

Vocation known and after the events of 2003 witnessed a scene-oriented monetary active in shaping the distinctive tracks translated Iraqi Central Bank autonomy in decision-making is governed by directly routing the money supply and influence on the movement of bank credit

And the control of the performance of banks, both as he sought to develop various policies and cash through its tools to influence the deterioration of the Iraqi currency and to maintain a stable rate of inflation margin, reflecting the stable monetary and Undoubtedly, the central bank and within the general features of the monetary policy sought to stabilize the system and secure cash reserves in foreign currency to translate the events of external balance as he sought to influence the liquidity surplus, known by its tools in order to avoid economic Aladhararbalnchat and through limiting the growth of money supply in circulation to money supply and in accordance with the foregoing, the central bank has achieved remarkable achievements translated into the presence of a high cash reserve foreign currency and a clear impact on the direction of interest rates reduced, but modest, in our opinion it needs to time-based programming to avoid the effects of such declines on the outcome of economic activity.

Central Bank of Iraq work to achieve balance in the cash market through the procedures and methods Baltathiraly monetary policy tools to achieve that balance and stability and its contribution in reducing the rate of inflation and increasing reserves Alnkdalajnbe through different activities including exchange of cash between the dollar and the Iraqi dinar and through open market operations to finance some activities, including imports of goods and services as he refrained from resorting once again to rely on the policy of deficit financing Awanakd cheap, which was approved during the nineties of the last century with its negative effects and direction of spending power is studied, which correspond to the reality of the Iraqi economy and unilateral sectoral composition, so the Central Bank also said it has specialists foreign exchange requirements of the private sector and push for exchange rate stability and security of global foreign reserves, and gave a copy of the power of the Iraqi dinar higher and harmony in terms of board with the power of the cash reserves and if we agree with the achievements of the Central Bank at the time it was exceptional by all standards.

We would like to point out and see what analytical reflected the reality of developing countries, including Iraq's privacy in light of the adoption of market mechanisms to achieve by relying Alastaqraralnkadi, price and economic, according to the characteristics of structural can influence the extent and realistic to achieve a stable nominal exchange rate of the local currency, including Maitalq harmony and interdependence that exists between the real market (market for goods and services and money market and a market work) and ask here where is the harmony and interdependence between these markets and to achieve a real foundation to promote stability in the exchange rate of the Iraqi dinar and what are the indicators of the interaction between the directions of investments and savings in the size of those with limited savings both at the national level in the reliance on a single source to generate those savings that translate and through oil revenues and hard currency into the cash reserves deposited with high CBI but is in fact subject to fluctuations and the volatility of the situation of the Iraqi economy according to the sole supplier affected by the requirements of demand and fluctuating prices, and then returns and the size of reserves and increasingly complicated situation in light of the fact the trade balance and the diversity of known Bhicleth import content broadly and limited export content and its impact on the balance of payments, which is limited in terms of volume of reserves and generating a resource mainly oil and the absence of other sources of strength and efficiency of investments in Iraq and other revenues and other transfers.

The question stands out here is that the relative stability of nominal exchange rate and through exchange between the currency market is the real stability in light of the worsening economic problem existing on the nature of the local economic structure and the pattern of international economic relations and equal in this aspect goes without saying that the production system in Iraq to not respond easily to changes prices and the monitor did not seem to respond to the real indicators of the price series and interfere with each other in terms of the possibility of raising the level of employment, production is restricted does not all fall to the level of demand and prices, but structural constraints and inflation, which states that under control, which we hope the fact we find that the roots of Aestmd monetary reasons only in accordance with the quantity theory of money as the traditional posed by visions of the International Monetary Fund, but in fact, inflation and structural Klfoi in particular, where an impact on the type of production inputs and pushed for raising their costs and limited, in turn, the possibility of expansion of sectoral activity and the manner in which diversified sources of income, wealth and profit and contribute to reduction in unemployment and the fact that these two types of inflation have contributed to the survival of the Iraqi economy firmly at the mercy of commodity dumping in all its forms and its impacts on industrial and agricultural reality unless the actual policy of what is required of goods and services to be imported from the private sector of consumer goods as stated in an interview with the President Board of Directors of the Bank of Assyria, it will help meet 75% of the volume of imports of consumer food in Iraq and perhaps Hmatrah itself and spontaneously as an indicator of Astmrarugod imbalance in the Iraqi economy and an increase in dumping the commodity and the shrinking role of the private sector and agricultural production, And if we took another side to consider the relative stability of the price exchange, we believe that stability at non-real as the community basic needs of the consumer and food are funded by a currency auction, and the production of a central bank's policy target of the amendment the nominal exchange rate and the impact on rates of foreign exchange reserves, without the adoption of mechanisms and rules that regulate and restrict the absolute freedom of the outer turn is needed to re - consideration and review of what led to it the policy impact on the currency and financial depth, and what can be practiced by financial institutions Dormi in the absence of controls.

Makan currency auction could have achieved funding and attractive to foreign currencies in the same time, he has led in turn to the reverse flows of such currencies through funding of imports has led through the procedures to raise the value of local currency and its impact on the reality of resource revenues, which represents the President of the Iraqi economy into deflation.

Consistent with the above, and our full support for Mbdoastqlalip central bank decision-making disengagement of monetary policy, fiscal policy, which was a reality for decades Aln ago, the demands of reality and the existence of the current economic and social indicators required to stand for and have repaired, which means the need to find harmony and interaction between the facts of the current unemployment and inflation Klfoi and a rise in the value of local currency and restrict the spending power of direction and lack of Mamajss in the general budget of the state of the real sectors of the influential actor in the solution of many Mamaatm the Advancement of crises to their betterment financially and administratively and by the adoption of an integrated economic policy with specific goals in its prospects of actual construction of interaction between monetary and fiscal policy to push for a real improvement of the structure of the current account of balance of payments and Alastaqraralhakiqi provoke a state of relative exchange rate of the Iraqi dinar and to render the value and realistic effective and real concerns over the foreign currencies and especially the dollar and on the basis of what can be reflected in the record's real including the Iraqi dinar achieved a level of balance between domestic prices and external prices of goods and services on SAS to diversify and expand the structure of the Iraqi economy and the sources of wealth and profit and to reconcile the requirements of the Iraqi economy after the transition and the trend towards disengagement bottleneck in terms of research and work to find alternative sources of oil in combination monetary policy through their instruments and different fiscal policy by directing spending funded by oil revenues, now about the real sectors, which it Mamaflt main pillar in achieving the highest elements of the success of the work of the monetary and fiscal policy.

To answer this question, Does the auction currency shares in the stability or economic justification for the smuggling of currency? The answer carries a stock propositions in the relative economic stability is not true for the reasons mentioned above has been paid to some extent in the absence of adequate controls to reduce transfers to the smuggling of foreign currency.

http://www.alsabaah.com/paper.php?so...page&sid=96572

Originally Posted by Seaview

Iraq sets Nassiriya oilfield deal deadline Jan 24

Iraq's oil minister said on Sunday a group of companies led by Nippon Oil Corp was 'stalling' in negotiations to develop the Nassiriya oilfield and that a deal had to be done by January 24 or Iraq would go it alone.

'Regrettably the group of companies has been stalling the negotiations. We will have a final decisive round of talks on the 24th of this month,' the minister, Hussain al-Shahristani, told reporters.

'Either we reach an agreement or we will start the work of developing the Nassiriya field ourselves and we are capable of doing that.'

http://pukmedia.com/english/index.ph...15652&Itemid=1

Shahristani: January 22 to sign with Eni and 24 deadline to determine its position Nippon

The Iraqi Oil Minister Hussain al-Shahristani said on Sunday that Iraq will sign a final contract for the development of Zubair oil field with a group led by Italian oil company Eni, on 22 January. On the other hand, al-Shahristani said that the round of talks will be final and decisive on January 24 with Nippon Oil Japanese oil field on Nasiriyah ...

And said Iraq's oil minister said a group of companies led by Nippon Oil was "playing" in the negotiations to develop an oil field Nasiriyah, he should reach an agreement by January 24, otherwise Iraq would go ahead on its own, adding that Iraq can develop the field on its own.

And Eni and its partners won the right to develop oil field reserves, which amount to four billion barrels last year after the first tender for the awarding of oil contracts in June since the US-led invasion in 2003. Has not been awarded an initial field during the auction but Eni reached an agreement in subsequent negotiations.

Agreement and one in a series of agreements may push Iraq to progress from eleventh place to third place among the largest oil-producing countries in the world to achieve a production capacity of 12 million barrels per day may also give the nation the billions needed to rebuild after years of war and economic decline.

He said al-Shahristani told reporters after the talks held in Baghdad with the company officials that Iraq will sign a final contract with Eni for the development of field-Zubayr on Friday.

Target Eni and its partners are Occidental Petroleum Corp., South Korean Kogas access the field's production capacity to 1.2 million barrels per day after taking into account additional reserves.

The contract provided that the consortium paid a fee of two dollars for each barrel.

http://translate.googleusercontent.c...gZXccWb-LJv8FA

Tareq Aziz suffers stroke

Tareq Aziz, a former deputy prime minister who was the public face of Saddam Hussein's regime, suffered a blood clot in the brain and was moved from prison to an American military hospital, his son said yesterday.

The US military said Aziz was taken to an American military hospital in Baghdad on Thursday for examination but would not say why due to medical privacy rules. "His condition is improving and he is still being closely monitored," Lieutenant Colonel Pat Johnson said in a statement.

Aziz, 74, rose to prominence around the time of Iraq's invasion of Kuwait and the 1991 Gulf War when he was Saddam's foreign minister.

http://www.gulf-daily-news.com/NewsD...storyid=268764

Kuwait denies holding Iraqi land

Manama Kuwait has denied allegations made by Iraqi MPs that it is holding Iraqi land, either offered by the former Iraqi regime or annexed by its citizens.

"Kuwait has never sought to expropriate land of other countries and has repeatedly called for the full respect of international borders," the An Nahar daily reported Kuwaiti diplomats as saying yesterday.

"What the Iraqi officials are referring to is in fact Kuwait land owned by Kuwaiti citizens, and this is clearly indicated in the internationally recognised maps. Anyone keen on further information on the issue should consult the maps to get the facts," the unnamed sources said.

The Kuwaiti denial was issued after Abdul Matlak Al Jabouri, an Iraqi MP representing the Independent Arab Bloc, called upon the government to file cases in international courts and to seek international arbitration in order to "recuperate Iraqi lands offered by the former regime to Jordan, Saudi Arabia and Kuwait".

"Several Iraqi areas are now included in neighbouring countries, such as Al Rwaishad in Jordan, the no-man's zone in Saudi Arabia and the borders with Kuwait. The borders with Kuwait have been pushed up since 1963 and today vast areas of Umm Al Qasr and numerous gardens belonging to people living in Al Basra are held by Kuwait. We need to launch action to get them back," he said.

MP Sa'ad Al Barzanji called for a review of Iraq's border accords, arguing the former regime had given up some of the country's wealth, water and land.

"The infamous Algiers Accord was signed simply to address the internal issue of the Kurds' revolution. Under the accord, Iraq had given up several significant border areas, and there is now a need to review it because the agreement was made during exceptional times. Now the Kurds are partners in ruling Iraq, we need to reassess the deal," Al Barzanji, MP for the Kurdistan Alliance, said.

Last month Kurdistan parliament speaker Kamal Kirkuki called for the abrogation of the accords, saying it violated the sovereignty of Iraq. However, an Iranian official this month said that "all issues and problems concerning Iran's shared borders with Iraq should be pursued under the Algiers Agreement inked in 1975".

http://www.zawya.com/Story.cfm/sidGN...20Iraqi%20land

Iraqi province gives Saddam loyalists 24 hours to leave

Local government officials warned Saddam Hussein loyalists on Monday to move out of the Shiite province of Najaf in central Iraq within 24 hours or face an "iron fist."

They demanded the exodus after a meeting to discuss security in the wake of a triple bomb attack last week in Najaf, about 150 kilometres (90 miles) south of Baghdad.

"The Baath gang of Saddam has one day to leave the province or we will use an iron fist against those who have failed to distance themselves from the Baath and Al-Qaeda," the officials said in a statement.

The leader of the provincial council, which is headed by the party of Prime Minister Nuri al-Maliki, a Shiite, blamed the bomb attack on Baathists, referring to Saddam's outlawed Sunni-dominated Baath party.

"The council's next measure will be to purge local government institutions of Baathists," said the statement.

The demand could further inflame Sunni-Shiite tensions after many Sunnis were among 500 candidates barred last week from the conflict-wracked country's March 7 general election, purportedly because of Baathist links.

Attacks in Najaf are rare but last Thursday's incident caused a large number of casualties, although accounts of the numbers varied.
An interior ministry official in the capital said 15 people were killed and 25 wounded, while a local official in Najaf said three people died but gave a much higher wounded toll of 80, including 15 in serious condition.

http://www.zawya.com/Story.cfm/sidAN...s%20to%20leave

Shell-Petronas group signs Iraq oil contract

A consortium of Anglo-Dutch oil giant Shell and Malaysia's Petronas signed a contract with Iraq on Sunday to operate the enormous Majnoon oil field in the war-torn country's south.

The Baghdad government had approved the agreement in early January as part of four deals with foreign energy firms to dramatically ramp up Iraq's oil output following an auction in December.

Shell and Petronas will receive 1.39 dollars per barrel of oil extracted from Majnoon, which has known reserves of 12.58 billion barrels. They expect to produce 1.8 million barrels per day.

The Anglo-Dutch company has a 60-percent stake in the project, while its Malaysian counterpart has the remaining 40 percent.

"We look forward to fruitful cooperation with the two companies," Iraqi Oil Minister Hussein al-Shahristani said, adding their operations were to begin on Monday.

The government auctioned the fields in December, massively increasing Iraq's projected crude production to 12 million bpd within seven years, from current output of around 2.5 million.
But security and dilapidated infrastructure remain key obstacles to achieving that target.

http://www.zawya.com/Story.cfm/sidAN...Oil%20Contract

CBI’s dollar sales nosedive to 99m

The Central Bank of Iraq’s (CBI) dollar sales dropped significantly to $88.950 million in its daily auction on Monday, compared to $168.902 million during the previous session.

“The demand hit $11.410 million in cash, covered at an exchange rate of 1,170 Iraqi dinars per dollar, and $77.540 million in foreign transfers outside the country, covered at an exchange rate of 1,173 Iraqi dinars per dollar,” according to a CBI news bulletin received by Aswat al-Iraq news agency.

None of the 10 banks that participated in today’s session offered to sell dollars.

http://en.aswataliraq.info/?p=125412

Parliament calls for an economic policy-wise in Iraq

Said a member of the Economic Committee in the House of Representatives is full of Baldawi The formulation of policies to achieve growth and prosperity in all economic and social development are essential requirements to create a favorable investment climate to grow and flourish facilities and sectors in Iraq.

She Baldawi told the independent press Monday that sound economic policies that can avert the country is faced by many countries in crisis, particularly in important sectors including banking, which led to real problems and difficulties are faced by other productive sectors in the economies of those countries.

She said spending on projects and basic services and develop the oil sector as the foundation to support the financial budget of the State is a necessity

http://radionawa.com/Ar/NewsDetailN....800&LinkID=105

A seminar to discuss e-banking products and ways of developing

Organized a company money for electronic banking services expanded seminar to discuss the electronic banking products and banking constraints in Iraq and the necessary solutions.

The delegate (range), who attended it included worksheets for each of the chief adviser to the Prime Minister Thamer Ghadhban and Assistant Director-General of the banking and credit control in the Iraqi Central Bank and Advisor to the Prime Minister Abdul Hussein Al-Anbuge adviser and the U.S. Agency for Development Ali Al-Husseini, chairman of the company Iraqi bank bailouts Wadi Handal.

The chief adviser to Prime Minister Thamer Ghadban: Iraq is still primarily an economic base dependent on oil and 90% of imports from the federal budget and an annual imports of about 65% of national income, and this is without doubt the reality of unsatisfactory because it depends primarily on the world price of oil and when changes or reduced price without doubt, the imports will be affected and influenced by the investment budget and development activity in the country so it is not necessary to develop non-oil resources of the State in this regard is the role of the private sector to be active and is expected to be a major factor next government will build on achievements in under the current government and in particular Maitalq legislation and institution-building.

http://radionawa.com/Ar/NewsDetailN....807&LinkID=105