Thread: Archive News - Iraqi Dinar Think Tank - 22/06/2010 - 04/10/2010

I am critical of the deputy central bank selling the currency in the markets of scrap metal

Warned a member of the Iraqi parliament from the Sadrist bloc, Hussein Alwan al-Lami of the danger of the continued sale of the Iraqi Central Bank of the coin abolished in the scrap market price of an understatement.

Al-Lami said that "the Iraqi Central Bank sold the entire amount of coin new canceled at about 250 thousand dollars a cheap price compared to their cost prohibitive, which leads to the wonderful especially since we know that the cost of this currency has reached 16 million dollars," referring to the apathy in the making Important decisions and waste of public money.

Lami said that such decisions do not serve the interests of the Iraqi people who are dying of hunger and poverty, which lacks the most basic services, livelihoods, water and electricity.

http://www.uragency.net/index.php?aa=news&id22=9095

Minister of Commerce : Ktpalkhmsip aims to build a diversified economy not dependent on oil

The Minister of Trade and serenity net debt agency that the goal of five-year national development plan for the years 2010-2014 is to build a strong Iraqi economy diversified sources not dependent on oil imports in obtaining finance.

He said the net, on the sidelines of the launch five-year plan, which was launched on Sunday, "aimed at national development plan launched by the Ministry of Planning and Development Cooperation to build a strong Iraqi economy diverse sources and not dependent on oil to get on imports", noting that the plan "will give the concerns of the agricultural sectors, industrial and service of Side, and give the private sector played an important role, effective and essential to meet a lot of requirements."

He added that the development plan "want to move Iraqi society from one consumer to the product, through the construction of giant projects strategy for relying on domestic production due to the various agricultural and industrial sectors and service."

He noted the net, "The problems that face the implementation of the plan is corruption fully aware of and financial support to the political differences between the blocs," explaining that "the plan took into account mainly the failures that occurred in the past by relying on annual plans and budgets, which confirmed that it is not effective under the requirements Large construction and reconstruction."

And fired the Ministry of Planning and Development Cooperation, yesterday (Sunday) National Development Plan for the years 2010-2014 at a press conference at the Rashid Hotel in Baghdad in the presence of Prime Minister Nuri al-Maliki and the ministers of planning, science and technology, trade and water resources.

http://www.uragency.net/index.php?aa=news&id22=9082

Iraqi economic : the Federal Civil Service Council had a negative impact on the reality of the country's economic

The economy of Iraq, said Tuesday that the decision to the Board of the Federal Service of the worst decisions taken by the Iraqi Council of Representatives its first session due to its effect on the economic reality in the country in the first six months of 2010.

Abbas said Thamrlugalp Kurdistan News (Akaniwz) that "the House of Representatives its first session was not successful in passing the law of the Federal service, which another government posts until the formation of the next government and increased the phenomenon of unemployment among Iraqis."

He said the "law of the Federal Civil Service Council can work in case the economic situation is stable in the country and not as it seems now the economic situation is confused and immature because there is no real vision for its activation."

He said, "Inventory Service Council posts would delay Iraq's efforts to absorb unemployment, especially in the youth population, which reached a peak because of the lack Asttratejip integrated plans for the advancement of economic reality for the Iraqis."

The Iraqi Council of Representatives had voted in its first session on the draft law of the Federal Civil Service Council.

Iatbrparwa law and the Civil Service Board the first law to be voted by three months after the resignation of President Mahmoud al-Mashhadani of Representatives from his post against the backdrop of a fight between him and the number of deputies.

The vote on the law after the Federal Court approved the ratification of the laws.

http://www.aknews.com/ar/aknews/2/161715/

Odierno : the attack on the Central Bank has not been implemented well and are working on the establishment of the Iraqi Academy

The commander of U.S. forces in Iraq, Tuesday, that the formations of al-Qaeda lacks coordination in time, considering that the attack by gunmen on Iraqi Central Bank has not been implemented well, also announced that his forces are currently working on the establishment of the Iraqi Academy of international development capabilities and competencies of humanitarian.

He said Gen. Ray Odierno told a press conference in the Green Zone today, and attended "Alsumaria News", "The attack on the Iraqi Central Bank by a group of militants has not been implemented well," pointing out that "it is interesting that the movement of Iraqi security forces Was rapid and important role in thwarting the robbery and killing of the attacking group."

The commander of U.S. forces that "the cells and formed al-Qaeda lacks coordination at the moment, but still present and able to launch attacks inside the country."

Odierno attributed the continued al Qaeda attacks in Iraq, "his attempt to draw the attention of the Iraqi street to its ability and its continued existence, especially after we killed and captured 36 out of 44 leading affiliate in Iraq during the Afattrpalmadip."

He added that "strikes security posed by the Iraqi security forces to al-Qaeda organization is made is unable to rearrange its affairs technical and logistical support," noting that "it is important that the Iraqi security forces continue to pursue financing networks within and outside the country."

He revealed the commander of U.S. forces during a press conference that "forces are currently working on the establishment of the Iraqi Academy International for the development of capabilities and competencies of humanitarian after the withdrawal from Iraq," noting that "there was cooperation with the Iraqi government established to specialize in dealing with long-standing issues."

And Lt. Gen. Raymond Odierno that "managing the academy will be an Iraqi in order to coordinate regional issues with other countries, and provide research and studies on the security problems of the Middle East," he says.

http://www.alsumarianews.com/ar/1/86...-details-.html

Attacks on banks no cause for alarm

The Iraqi paper Addustour (Constitution) has reported that recent attacks on financial institutions have led some savers to withdraw cash from their bank deposits and keep it hidden at home. At first glance, it might seem that such a trend could potentially lead to runs on the banks or even a breakdown in the payments system—events with economic consequences much more serious than the robberies and bombings that triggered the initial withdrawals.

In fact, however, there is surprisingly little to worry about. Iraq’s banks are better able to meet depositors’ demands for cash than their counterparts almost anywhere else in the world because they do so little lending. Over half of deposits are held as central bank reserves, which are readily available to fund withdrawals. The absence of lending also means there is relatively little danger of a liquidity crisis. After all, banks can’t call in loans they haven’t made.

It also seems doubtful that the attacks seen so far will have much of an effect on the aggregate level of bank deposits. Since getting as high as 1.9 times in May, 2007, the ratio of cash in circulation to deposits has been trending steadily downward, falling below 1.0 last September and reaching a post-invasion low of 0.85 in February. (See Chart. Data is from the Central Bank of Iraq and Iraq Body Count.) And while this ratio climbed sharply from October, 2006 to May, 2007, a period when Iraq’s banks were losing an average of US$ 1 million a month to robberies, it is not clear that holdups were the main reason for this switch to cash. A more likely explanation is that the level of violence during those months simply made it too dangerous for many people to go to the bank.

As the central bank’s statistics don’t go beyond March, it remains to be seen whether there has been an uptick in the cash/deposits ratio in the last few weeks. But it seems to me that things would have to get a lot worse before there was any real cause for alarm.

http://www.iraq-businessnews.com/?p=5149

Investors : economic policy in Iraq still need to develop administrative and technical support to deal with proper investment opportunities

Development of the industrial sector in the country and promote national industry is an urgent need, especially since Iraq's industry in transition aimed at the restoration of infrastructure which, through the implementation of investment projects within the country, draws its features embodied in a number of companies and Iraqi Ministry of Industry.

Despite the relative improvement in performance, but the company demanded the Iraqi government to increase investment allocations for the coming years, something that would improve Iraqi industry to the ranks of global counterparts.

According to investors, the economic policy in Iraq still need more understanding and awareness of the administrative and technical support to deal with sound investment opportunities that need to be able to understand the Angels momentum expected in the near future.

http://alforattv.net/index.php?show=...ticle&id=46626

Invitations to reconsider the management of financial resources

Saw the Minister of Planning and Development Cooperation of the former Iraqi Mahdi Al-Hafiz, the best solution he sees to the dilemma of the Iraqi economy growing is «to reconsider in the pattern of management of financial resources so that the distribution of scientific, fair, taking into account the basic needs of citizens and protect the interests of the country».

He said in a statement to «life» that the nature of the Iraqi economy is transformative in nature, pointing out the absence of any fixed formula for the economy in the pattern of production and forms of ownership and attributed this situation to the transition of political power and total dependence on oil revenues. He said that «the mismanagement of financial resources and lack of economic vision set out in Iraq is very important, we must seriously address the full».

The identification of the economic vision is an important element to reveal the future and ways to address the constraints, and considered the issue of financial mismanagement fateful steadily worsening, especially in light of touch everyone from the spread of the phenomenon of corruption.

He said: «is not reasonable that Iraq shall have the balance of the large oil resources in excess of 70 billion dollars and hear every day about the theft and financial breakthroughs as a precedent», calling to address this phenomenon.

On the nature of the activity of the Iraqi private sector and the challenges it faces, pointed to a lack of focus required to determine the nature of the sector and the priorities of development, because it is operating a free and far from official obstacles, and called for the need for coordination with companies and foreign institutions and to encourage production companies in an active manner.

He added that the loans have had an important role and is still in the development of the private sector, there is also a need to take full advantage of external financial assistance, that the form of loans or grants or aid.

He concluded that the keeper the solution lies in forging a new economic and review the management of financial resources, and peace of salaries and taxation, and restriction of import to restore the social balance and ensure the rights of the country.

He pointed out that a great weakness of the economic policy in Iraq is the «not touch the strategic directions of economic policy of the State, which must be redressed everyone».

http://alforattv.net/index.php?show=...ticle&id=46622

To keep the Development Fund for Iraq under the name of another in the Treasury U.S. federal

The Ambassador of Iraq to the United Nations, Hamid al-Bayati, the UN Security Council here last night that Baghdad had decided to retain the Development Fund for Iraq in the U.S. federal treasury with the immunity of the United Nations to the Fund, which protect against creditors or without, which expire on Dec. 31.

The al-Bayati, told the Kuwait News Agency (KUNA) that "Iraq plans to keep the Development Fund for Iraq in New York with a different name and will continue to pay five percent of Iraq's oil resources to the United Nations Compensation Fund without any change."

Ban was recommended in his report on the issue of the Development Fund for Iraq last April not to provide immunity to the Fund during the period beyond December 2010.

Was established the Development Fund for Iraq in 2003 for the conduct of the sale of Iraqi oil and for Iraq's humanitarian needs and subject to the control and supervision of the international consultancy to ensure transparency.

Al-Bayati said in this context that the Security Council should convene a meeting to end the Development Fund for Iraq at the end of December and another resolution.

He said the fund, which will take a different name will not be subject to the control of body control and international consultancy, but the control of Iraqi committee composed of financial experts headed by Abdul Baset Turki, who is scheduled to deliver a speech at the Security Council next Monday in a meeting to discuss the issue of the Development Fund for Iraq.

The Security Council demanded that Iraq at a meeting to approve the extension of the Fund until the end of December at the request of Baghdad, an action plan and timetable for transition to post- end fund from 2011.

The Iraqi Foreign Minister Hoshyar Zebari, delivered the work plan and timetable for the Security Council earlier.

http://alforattv.net/index.php?show=...ticle&id=46625

Economist : short-term economic plans are more accurate than that long-term

Economist said that "short-term economic plans are more accurate than that protracted, less accuracy in inverse proportion to length because of changes that occur at the international level and regional levels to Iraq, especially that the economic situation over the past years marked by volatility."

The professor of economics at the Institute of Business and Economics Imad Shehab Ahmed in connection with the Agency for the independent press (Iba), "The vision and goals to those concerned with any economic plan, due to the possibility of Astaqraihm of the economic situation and political, which is built on the basis of scientific and clear."

Ahmed added, "These foundations are capable of building a general trend of development plans, which can lead to success and prove its efficiency on the ground."

Ahmed noted that "the most developed countries harness support their policies in the economic and political differences for the distance this file while in Iraq, we find that politics are driven by the economy and harnesses in the service of triggering economic problems and the fluctuation in the economic situation."

He stressed that "most of the economic plans , however, when the paint experts and according to scientific bases far from the whims and fluctuations could then guarantee that success, whether short or long term, although the accuracy of the annual short-term plans."

Iraq has announced yesterday the launch of the first five-year plan for economic development for the years 2010-2014 in light of conflicting views of observers in the economic plans replace another in the annual plans of medium or long-term can promote economic reality, especially that the Iraqi economy is suffering from a reflection of the conflict between political parties.

http://www.ipairaq.com/index.php?nam...onomy&id=27496

Biden’s latest Iraq visit came at the wrong time

.S. Vice President Joe Biden spent last weekend in Iraq to help the country’s disparate leadership to build a new government four months after inconclusive parliamentary elections.

The U.S. has an effective embassy in Baghdad staffed with efficient officers. U.S. troops are still there in Iraq. This is besides the different types of relationships and connection U.S. has set up in the country in the years since its 2003-invasion.

Such heavy presence should give the U.S. a good picture of the details of what goes on among Iraqi forces vying for leadership and their four-month rivalry over the formation of a new government.

For this reason nothing has come out of Biden’s latest tour of Iraq. The visit did not improve U.S. chances on the ground. It did not give the U.S. the edge that would have helped it defuse the crisis over the selection of the country’s new prime minister.

So, was the visit really necessary? I believe the timing of the visit was inconvenient and unsuitable. Therefore, it was not surprising to see Biden leaving empty-handed.

The visit came as the crisis over the creation of a new government is at its peak. It is assuming different characterizations: it is both personal and sectarian in nature.

Biden wanted to give the world the impression that the U.S., which is preparing for the withdrawal of its troops from Iraq, will not leave the country’s political crisis behind its back. He wanted others to believe that Washington is in charge of the Iraqi file.

This attitude might have been true if Iraq’s eastern neighbor was not Iran, a country in conflict with Washington. Biden could not leave the slightest impact on the status quo in Iraq despite his country’s formidable military presence in the country.

It is time U.S. politicians like Biden and others publicly admit that the Iraqi file is in Iran’s hand. Iran holds the Iraqi file dear to its heart the way it holds its nuclear file. Iran might be ready to negotiation over its nuclear file. But do not expect Iran to compromise its firm hold on Iraq file.

No one should think for a moment that Iran, given its long arm in every aspect of life in Iraq, would ever show any flexibility towards U.S. overtures, even if they came from Vice President Joe Biden.

The crisis in Iraq will not be eased so long as the U.S. ratchets up the pressure on Iran over its nuclear file.

How could the U.S. expect Biden’s mission to succeed when he lands in Baghdad only hours after President Barack Obama signed new tough sanctions against Iran.

Can we assume that the U.S. has no idea of the Iran factor in the corridors of power in Iraq? This is an impossible assumption.

But if that is the case, Iraq will remain holding the title: “The owner of unknown future.”

Biden’s visit came at the wrong time. But for how long will Iraq keep paying for America’s wrong timings?

http://www.azzaman.com/english/index...07-06\kurd.htm