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

Hill: It takes time to stem violence and the situation in Iraq requires a new agreement after 2011

He said former U.S. ambassador to Iraq, Christopher Hill said stem violence in Iraq will take a long and depends primarily on the development of Iraqi institutions, pointing out that U.S. troops would stay to the end of 2011 and the situation is left to the new agreement with the Iraqi government after its formation and it is that will determine the needs of the Iraqi people.

He stressed in an interview with the "statement" the UAE that his country does not emanate ideas for Iraq, said "true that there is a set of ideas in Iraq, including the idea of a political committee for national security as the Security Council can be established in some way in a new coalition government."

Asked what is in a position to form a government, Hill said : It is difficult to speculate this, but I can say that Nuri al-Maliki won 89 seats, or competition of Iraq, which won 91 seats, so I think that a coalition of law and Iraq to work together Although there are bumps in the road ahead.

And on the rumors about an American proposal to establish a federal to make way for the formation of the government, said: "First and foremost, does not have an American proposal that, we do not export of ideas from Washington to Iraq. It is true that there is a set of ideas in Iraq, including the idea of a political committee for national security such as the Council Is national security can be established in some way in the formation of new coalition government. This idea is discussed now between the Iraqi political forces, especially as the logical question is that, in establishing this committee, what is the performance within the person who will serve as prime minister."

Regarding the Iranian role in Iraq, Hill said : What was the role they play, a factor not helpful at all. They have to realize that if they wanted good relations with Iraq, they should respect the sovereignty of their country. The truth is that, given the location of Iraq and the interests they represent, you will find That not only Iran is interested in their interests in Iraq, but also all neighboring countries, but it is important that any solution to the Iraqi problem should be motivated from within Iraq and not imported from any other country.

http://www.uragency.net/index.php?aa=news&id22=10658

Christopher Hill: the administration of Iraq is not for amateurs

"Management of Iraq is not for amateurs". These were the U.S. Ambassador ended his service in Baghdad, Christopher Hill, who recently made a "farewell tour", accompanied by the magazine "Foreign Policy", U.S. ahead of the arrival of the new Ambassador Jim Jeffrey to take over his position in what the magazine describes as "the greatest site U.S. diplomat In the world."

The writer has reviewed in the "Foreign Policy" Josh Rogaine some facts and information on the Hill, said that he "served in the diplomatic service the U.S. 34 years, transporting from Bosnia to North Korea, before being transferred by a clear message directed to the Iraqis, "You have the patience and persistence, this is what Will help Iraq to become a successful democracy."

Quoted as Rogaine Hill as saying that "Iraq's problems difficult, but great potential," praising "those Americans who have done their utmost to make the situation better and to leave things better for those who will follow us."

Hill is not required only patience of Iraqis, according to the magazine, but also from the international community, expressing his confidence that "Iraq on the way to stability and prosperity, only if adherence to the international community and continued to provide support to him."

Hill said the "Foreign Policy", "Iraq, as I say always, not a place for those who want to hear words of gratitude on the spot. But it is, ie Iraq, prompts you for the patient", and listed among the achievements of "the oil boom, and the waning influence of al-Qaeda and popular support Them, and Iraqi forces are taking more complex tasks and are more independent."

Hill expected to increase Iraqi oil production from two million barrels per day, as is currently the case, to eight million barrels per day, as was the case before the invasion, and within 10 years.

Hill also spoke about the role that Iran is doing in Iraq, he said, "Whatever this role, it does not help," adding that Iranians "are harming their personal interests by playing a non-constructive role in Iraq, including supplying arms to rebels."

"It seems that the Iranians do not understand that they are in the long run, if they want good relations with Iraq, they have to do a better job in regard to respecting the sovereignty of Iraq."

As for the Americans, said Hill "I do not Tgarnoa Iraq, Afghanistan, do not forget to support Iraq when the soldiers leaving it."

Hill concluded his interview with reporters, including Josh Rogaine from "Foreign Policy" by paying tribute to Iraq "is a unique country. But its problems are not unique .. and Iraq is not a place for amateurs".

http://non14.net/display.php?id=10203

UN: aid workers are still exposed to great risks in Iraq

Asked the Deputy Special Representative of the Secretary-General of the United Nations and Humanitarian Coordinator in Iraq, Christine McNab of the Iraqi authorities to protect the civilian population and humanitarian workers working in Iraq and respect their integrity and their lives.

This came in a letter McNab on the occasion of World Day for humanitarian relief in which she said, "Relief workers are still exposed to great risks in Iraq at the time of the day the world celebrates the International Day of humanitarian relief."

She said, "I decided the General Assembly of the United Nations in December 2008 and during its 62 to make the 19 of August every year a day to remember people affected by natural disasters, epidemics and conflicts and to assess the humanitarian work, women and men who devote their lives to helping those people and on their own in most Sometimes."

The "Since 2003, Iraq was a dangerous work environment and concern for the aid workers and workers in the field of humanitarian assistance."

McNab has warned of the dangers of working in Iraq, saying "Long live humanitarian workers, especially from the people of the country in constant fear of being targeted by armed groups and some of them conceal the nature of their work from their neighbors, friends and even their families."

But returned to confirm that the humanitarian workers in Iraq are committed to "humanity, neutrality and impartiality and operational independence despite the fact that Iraq has become an environment characterized by a high degree of risk."

The aim of this celebration today to honor the humanitarian relief workers who have lost their lives or were wounded during the performance of their job functions in addition to drawing attention to the humanitarian needs in all parts of the world.

http://radionawa.com/ar/NewsDetailN....206&LinkID=158

Oil Ministry accused the Government of Kurdistan violating conventions amid efforts to increase oil exports from the region

Returned the differences between the central government and Kurdistan Regional Government on the policy pursued by the region's oil re-emerged, especially after news of the smuggling of crude oil and oil derivatives To neighboring countries for the region, especially Iran, and accusing the two major parties in Kurdistan, that they who was behind the smuggling operations.

Has accused al-Shahristani, Minister of the Kurdish administration Tuesday of violating agreements and breach of laws by allowing the export of oil and oil products to Iran Surprisingly, the process by saying that Iraq is importing gasoline and Kurds Ihrbunh and that is very strange. and wondered Shahristani Is it possible to pass from the region without the knowledge of central government, which it imports from its budget, and other exporting it and placed income in their accounts, adding that it causes damage to Iraq's attempts to end the obligations It under the UN resolutions dating back to the first Gulf War, adding that it is in particular violation of the obligation of oil revenues deposited in the Development Fund for Iraq, which holds the International Organization of Audit of accounts, required to call the regional officials to investigate the matter.

For his part, ridiculed the Kurdish deputy Abdullah Mullah Nuri member of the MDC opposition from statements made by the Kurdish administration saying it was to learn if there was oil smuggling, saying that the export of crude oil continues under the auspices of (regional government) and that revenues do not pertain to the budget, but go directly to the two Kurdish parties.

He made a formal request to Parliament to discuss the issue without success, stressing that the escape across the land borders of the province of crude oil extracted from fields in Iraqi Kurdistan, as noted in this regard, he provided information about the Committee on Natural Resources Parliament to pursue the matter.

Nuri al- Mulla said The mass of the change requested clarification of the Resources Committee in the Parliament about the issue of oil smuggled.

Out across international borders, we have information confirming that a significant portion of the Oil smuggled across the border is a crude oil extracted from fields in the region, and already we have our information in this regard to the Committee on Natural Resources Parliament.

The parliamentary opposition that the Committee on Natural Resources Parliament ignored our calls to investigate smuggling operations, pointing out that "the Committee on Natural Resources to learn smuggling and has information about it."

Amid these differences through the Resources Minister, Arlington in the province of Kurdistan from the expectations that imports from the region's oil exports will arrive during the next four years to 25 billion dollars a year, noting that this amount will be part of the overall budget of the country.

Ashti Hawrami said in a press statement today said his ministry is seeking to raise oil exports to the duration of four or five years next to one million barrels per day.

He explained that the province has about 45 billion barrels and 200 trillion cubic meters of natural gas, noting that his ministry had prepared a strategy and plans for access to this quantity production, and gas production would be exported via Turkey.

He disclosed that there are 40 small-scale refinery and three large in the region, and the possibility of some small refineries up to the liquidation of 10 barrels only.

The Iraqi Oil Minister Hussain al-Shahristani may Confirmed earlier That some constraints have prevented the Kurdistan Region Ministry's campaign to reach the production capacity of oil to what was planned within the state budget for 2010, amounting to 2.0001 million barrels a day.

The most likely al-Shahristani, to increase oil production during the remaining months of this year, pointing out that the average oil production expected this year will be up to two million, which are required from other areas of Iraq. The remains of 100 thousand barrels must be held accountable by the Kurdistan region will not be delivered to Iraq.

It is noteworthy that the Ministry of Oil, concluded last year contracts with international oil companies for oil investment, stressing that the production ceiling will rise to 12 million barrels per day during the next six years.

http://al-iraqnews.net/new/reports/22137.html

Volume of Iran’s trade exchange with Iraq worth $7 billion

Trade exchange between Iran and Iraq is mushrooming and is expected to be worth $7 billion this year.

Despite the record figure, Iran says the volume of exchange is below expectations.

“The trade exchange between the countries is below the required level when compared with other states,” said Iran’s Economy and Finance Affairs Minister Shamsudeen Husseini.

The growth in volume of trade is noticeable in Iraqi supermarkets, shops and stores which brim with Iranian goods, particularly in central and southern parts of Iraq.

An indication of the mushrooming trade exchange has been the recent deals the countries’ traders have signed for the import of Iranian goods during the Muslim month of fasting, Ramadan.

Sami Hamid, head of the Chamber of Commerce in the Province of Diyala says most of the deals are for the import of food stuffs, especially sugar and legumes.

“Hundreds of trucks laden with Iranian goods pass through the province every day,” said Hamid.

http://www.azzaman.com/english/index...08-20\kurd.htm

Sorry if already posted ......

Baghdad Chamber of Commerce calling on the government to review economic laws

Baghdad Chamber of Commerce called for the need to oversee economic commissions formed by the government on the projects and economic plans.

The An official in the Baghdad Chamber of Commerce reporter that the chamber Demanded during a meeting and included a number Economic commissions and the scientific advisory and business to consider many of the laws of economics and how to review and provide solutions for its amendment.

Demanded that many of the stakeholders the government on the need to oversee economic commissions formed by the government on the projects and economic plans in order to be able to modify some laws that concern the private sector, civil Which is regarded as the largest part of the national economy for that claim was Continuing participation in some room in the administration of laws Economic and reorganize and modify the laws of economics. which is mostly the result The former regime does not apply to the current situation in political free market.

http://al-iraqnews.net/new/economic-news/21990.html

Hello all,

I've been away for the week. Didn't have time to post an announcement.

Am back and will be catching up, posting articles from the last week.

This will take me a couple of days.

«Central» declares war on money laundering

Director of the Office of combating money laundering in the Central Bank of Iraq's Badr Abboud called on the Iraqi banks and private to purchase foreign currency to cover the operations of import, through auction organized by the Central every day, to make a business listing and documents required from the money transfer companies, businesses and clients of the banks is strictly the opinion of attempts to relate Money laundering. In a seminar organized by the Association of private Iraqi banks attended «weekly» detect Abboud observations and cons related to the fact that representatives of banks at an auction dollar to submit lists of commercial non-original or reproduced do not meet the required conditions, in the absence of an explanation a name of the issuer and the importer in full and the ports of shipment and arrival or Port received from the border through which the imported goods, and the nature of the goods, weight, unit price per ton, or by type of goods.

During the seminar it was suggested that by the «Central» issuing instructions need to activate the import operations by opening letters of credit or money orders documentary exclusively, and that each bank to open a file for each letter of credit includes the required data, in order to preserve the rights of the importer and the supplier and the bank-based credit and reporter and others, as well as The safety of human exporting and importing countries.

The director of the Department of Banking and credit «Iraqi Central» Walid Idi Abdul Nabi had stressed in a statement «weekly» the need to follow the activities of companies, banking and foreign exchange, which may not relate to one another with the seriousness required in the fight against money laundering, he sought «Centra » to Activate the control of the Anti-money laundering under him, to be able to play a role in this area.

The Office is also developing regulations for activities derived goals of the recommendations of institutions combating money laundering, international, and asked the banks commitment to financial and regulatory methods of calculation take account of militancy in the fight against money laundering.

Chancellor at the CBI appearance of Mohammed Saleh has said that the companies banking does not work unless licensed by the «central» and other companies that have accounts subject to oversight and scrutiny, persistence, and, now numbering about 370 company up capital of 600 million dollars, working according to Central Bank's controls, Noting that since 2003, appeared offices dealing in foreign currency and local communities outside the central bank in all the districts, also deals outside the scope of corporate banking, and control over their dealings very difficult, because transferring money is very large out of Iraq, and within which lies the danger, calling for In this regard to create a body combat economic crime, including the current activities of the offices of non-licensed.

Economists believe that the exchange firms need more supervision by the central bank, as the Central Bank will have control and supervision of banking, civil and governmental, without that there will be control and supervision of companies, banking, and they draw out that money-laundering operations carried out secretly and without documentation, It is difficult to detect, especially in light of the current situation, which requires followup licensed banking companies, as well as unlicensed offices that deal with foreign currency and local communities to reduce the incidence of money laundering.

Confirms these experts, there is a law against money-laundering act whereby all banking institutions Iraqi private and public firms, including banking, and that the law requires identification of the person who is a transfer or receipt of remittances, through the form shows the amount of money and the identity of the person and the party that conversion and conversion purposes. He adds that there are offices in every bank, whether government or waged, and branch offices in banks, called the Office of the money-laundering, there is no treatment or receiving a transfer of funds without reference to him to check those remittances.

http://www.alesbuyia.com/inp/view.asp?ID=16336

Violence may feed off economic woe in Iraq

During its initial assessment in 2004, the IMF optimistically forecast oil production in Iraq to double in five years while the country’s ministry of oil was expecting to at least treble its production levels.

Those years have passed all too quickly. According to the ministry, crude production in Iraq this year has averaged 2.4 million barrels per day (bpd), no different from the levels reported in February 2003. The grim reality is, oil production in Iraq has not increased in more than a decade. Then again, neither has electricity.

The ministry now plans to increase production to 6 million bpd in the next four years and double once more in a decade – making it a leading producer in the Gulf. Even this seems unrealistic. The output expansion deadlines do not allow enough time to build the pipelines, ports and other facilities needed to transport enormous amounts of oil.

Despite this, there are some very good reasons as to why Iraq hasn’t managed to achieve its goals, starting with the most obvious: violence.

According to the government, last month at least 500 people were killed in acts of insurgency and more than 1,000 wounded. As a marker for intensity, commentators have hastened to add the death toll is significantly lower than the 4,000 in the same month in 2006 and 2007. It is no secret that security risks make Iraq a difficult environment to operate in.

The second most compelling reason is the exodus related to the violence. Almost all of Iraq’s middle class escaped the violence by seeking refuge in neighbouring Arab states. The result was a breakdown in normal life in Iraq.

Every Iraq budget since that of Jerry Bremer, the US diplomat appointed administrator to Iraq from May 2003 until limited Iraqi sovereignty was restored on June 2004, has been approved late. The capital budget has typically been under-executed while the recurrent budgets have been hugely overspent. In other words, it has been easier to pay salaries than spend on large-scale infrastructure projects.

This leads to the third reason: institutional capacity. Not spending on capital projects could be attributed to a lack of know-how or lack of practical experience. Iraq’s last major construction project was the Doura power plant in 1987. There are also other types of budget quick-sand. Almost all the government-led corporations are still mired in the subsidy-led industrialisation attempts of the 1970s.

The ministry of industry and minerals controls some 70 companies in six sectors that do not have auditable accounts or turn profits. There has been an understandable interest in privatising them all. Other ministries control an additional 100 state-owned enterprises with the same predicament. The risk for the investor is that state-owned companies come bonded with employees who need to be managed.

A fourth reason is that investment in Iraq requires supporting legislation. There are tangible benefits such as a significant three-year exemption from import fees and no taxes for two years with the opportunity to repatriate investment and profits.

On the flip side, Investment Law 13, passed under the current government, suggests that projects greater than US$50 million (Dh183.6m) be proposed for the scrutiny of the National Investment Commission and then the relevant provincial investment councils.

Precious time can also be lost in figuring out what to do – the World Bank ranks Iraq 175th for time taken to start a new development, with an average of 215 days to get construction permits compared with a MENA average of 160 days. Roads, railways, the electricity grid and ports need investment.

The fifth factor is the cost of doing business. Shipping containers of cargo to Iraq costs $3,900 per unit compared with an average in the MENA region and countries of the Organisation for Economic Co-operation and Development, including the US, UK and Australia, of about $1,200. This problem could be solved over the next few years: to facilitate the flow of goods Kuwait has committed itself to a $1.1 billion port development of Boubyan Island, near the Iraqi border, which it is hoped will reduce the import costs substantially. The first four berths are expected to be commissioned around 2015.

To feed Iraq’s hunger for cement, France’s Lafarge has recently launched a joint-venture with MerchantBridge to spend $200m on the renovation of an Iraqi cement plant near Karbala in the south to boost production. Construction material prices in Iraq could fall as trade links with the Gulf strengthen.

The sixth reason is limited borrowing options. In February, the IMF approved a $3.64bn loan, disbursing about $450m immediately as the government struggles to plug financing needs of $5bn until the end of next year. This follows a satisfactory performance for the IMF Stand-By Arrangement (SBA)programme, approving the last tranche of 20 per cent debt relief last year.

There remains, however, a final 20 per cent for Iraq to repay to lenders belonging to the Paris Club, whose permanent members include Australia, Canada and France. Kuwait and Saudi Arabia have also yet to finalise their debt-deals with Iraq, which could also ease the burden by an estimated $30bn to $40bn. The situation is proving difficult and comes on the back of an Iraq budget deficit last year of about $3.6bn.

Given the progress in reducing debt, conventional wisdom suggests that Iraq should be able to borrow to fund its reconstruction efforts. The way the IMF reform was carried out, however, impedes the likelihood of this happening within the next five years.

In keeping with the monetary tradition, the Iraqi dinar has appreciated more than 20 per cent to control inflation. This price-level correction also drove up the cost of the public services by the same percentage through higher salaries.

Now, there is virtually no room for further appreciation. In tandem with maintaining an artificially strong Iraqi dinar, the external position deteriorated substantially last year. According to the IMF the overall balance of payments shifted into large deficits of about 20 per cent of GDP.

So what does this all mean? The disputed election and extended political paralysis create further uncertainty in the country.

The economic risk is that the creeping erosion of confidence among Iraqis may provide fertile ground for a return to increasing violence. With a weak government that struggles to deliver, a return to shortages and inflation rates as seen in 2006 is not impossible to imagine.

Oil production is unlikely to increase markedly any time soon and with large-scale borrowing off the agenda, the Iraqi government may find itself offering more concessions to shore up investors. That said, investors are likely to wait to see how the cards fall after the troop withdrawal.

Ikaraam Ullah is an economist and writer based in Abu Dhabi

http://www.thenational.ae/apps/pbcs....708289918/1005

Iraq is losing four million dollars a day to non- gas investment in Basra

A senior official at Shell oil that Iraq is losing the value of 50 dollars per second, equivalent to 4 million dollars a day, as a result of the burning of gas associated with oil production in the province of Basra.

The Vice-President for the Middle East and North Africa in the Shell oil Mounir Bouaziz in a press statement, said his company was currently awaiting the approval of the Iraqi government investment contracts the gas is flared, and then begin implementation, noting that Iraq possessed stockpiles of large gas, unable to be One of the largest gas producers in the region.

And will be the size of investment in the project about 12 billion dollars, Iraq would retain a stake of 51% of the project, which is expected to be enough to export about 600 million cubic feet of gas per day from fields in Basra.

http://www.ipairaq.com/index.php?nam...onomy&id=29400