Thread: Archive News - Iraqi Dinar Think Tank - 24/01/201 - 23/07/2011

Senior Economist: Linking the Central Bank of the executive power will negatively impact on the economy

considered the Iraqi economic expert said on Wednesday that linking the Iraqi Central Bank executive power would negatively affect the Iraqi economy, is likely to result in the devaluation of the Iraqi currency and high inflation.

The peace Sumaisem of Kurdistan News Agency (Rn), it was "a matter of specialization in the work and the door of the safety of the state also were isolated conduct of monetary policy from the executive branch, and the Central Bank of Iraq run by, like a lot from the experiences of developed countries and developing democracy, in order to achieving transparency in dealing economy."

It pointed out that "over the past years has achieved the achievements of the Iraqi Central Bank, the most important of improving the situation of the Iraqi dinar exchange rate, particularly against the U.S. dollar, where the dollar was equal to about two thousand dinars, whereas now corresponds to about 1100 Iraqi dinars."

Considered Sumaisem that "linking the Central Bank of the executive power, is likely to lead to the seizure of the cash reserves of the Central Bank, as well as" a sense of others is likely to act in reserves of the bank, and this will weaken the confidence of the Iraqi economy and Iraqi currency and potential of Iraq."

The Iraqi Federal Court issued a decision in January 18 of this attachment provides independent bodies referred to in the Iraqi constitution, including the central bank, as prime minister directly, not the House. He criticized the Central Bank of the Federal Court decision, saying in a statement Monday that the decision poses a threat to the Iraqi funds. It considered that "the country needs to gain the confidence of the world, companies and investors by improving the value of the dinar, in order to encourage them to enter the Iraqi market."

She Sumaisem "If the Central Bank of shaken confidence, the command will affect negatively on the Iraqi economy as a whole, the most important and what will happen is the high rate of inflation, because the value of the currency will fall, which means erosion as a result of economic harvested each country over the past few years."

And continued, "and the circle of financial corruption will widen, because we know he is in Iraq and during the economic blockade inflation was open the door to enter the corruption and rampant in Iraqi society, under the name of living and Glaiha," indicating that "the Iraqi staff member he wanted only to live, and this expanded issue of dealing bribes and the sale of receivables."

And expressed surprise at Sumaisem of linking the independent bodies, including the Iraqi Central Bank executive power, adding: "I do not see any economic interest to move, but will the Iraqi economy to collapse, I do not know who will be for the benefit of such a decision."

The court's decision on the inquiry of Prime Minister Nuri al-Maliki is considered to be linked to some independent bodies with the operational nature of their work in the House of Representatives is not in conformity with the competence of the Council and contrary to the principle of separation of powers.

Indicates Chapter IV on "independent bodies" in the Article (102) that is the UN High Commissioner for Human Rights and the Electoral Commission for elections, and the Integrity Commission, independent bodies under the control of the House of Representatives, and organize their work by law.

While recalling Article (103) of the first section is the same that all of the Iraqi Central Bank, the Office of Financial Control, and Communications and Media Commission and the endowment offices, bodies, financially and administratively independent, and the law regulates the work of each of them.

As indicated in paragraph II of the same article that the Central Bank is accountable to the Iraqi Council of Representatives and the Financial Inspection Office and the Information and Communications House of Representatives, while the third point of the same article that linked Endowment Council of Ministers.

http://www.aknews.com/ar/aknews/2/213677/

Deputy Kurdish expect re-budget for the current year to the government again

I expected a member of the House of Representatives of the Iraqi Kurdish blocs coalition Thursday, the return of the general budget for Iraq for 2011 to the Iraqi government once again to the existence of some of the items contained therein by political blocs.

The A'Ala Talabani Kurdistan News Agency (Rn) today on the sidelines of its participation conference in Arbil on the rights of Iraqi women that the "coalition of the Kurdish blocs have comments on the draft general budget bill for the country for the current year, particularly the issue of sovereign expenditure as well as linking the budget to export oil from the fields of the region."

The Iraqi Council of Representatives may be held in December last the first reading of the draft federal budget law for 2011, before it withdrew the members of the coalition of Kurdish blocs of the meeting because there is a clause in the draft budget provides for cutting the oil revenues extracted by the Kurdistan region from the region's share in the federal budget, amounting to 17%, in the event of non-stop pumping oil from the fields.

The federal budget for Iraq for 2011 to 95 trillion Iraqi dinars, and the share of the Kurdistan region of 17%, according to a political agreement between Baghdad and Erbil until the holding of the general population census in the country, and adopt the proceeds of Iraq Almkhmnp 95% of oil imports.

She drew Talabani that "the other blocs in the Iraqi parliament to have observations on some of the items contained in the general budget, which need to be revised in order to avoid the failures."

She added, "I expect to be re-balancing to the Iraqi government once again to re-examine some of the items before they are sent back to the House of Representatives for discussion in preparation for ratification."

She pointed out that "the government delegation from the Kurdistan region, visited Baghdad recently to discuss some controversial issues including the budget, and the two sides have reached understandings on some issues but it is for the budget has not been decided once and for all."

The head of the Kurdistan regional government, visited Baghdad at the head of the delegation a few days ago, to find solutions to outstanding problems between them, particularly the oil issue and the budget.

The government of the Territory in a statement, it had reached an agreement with Baghdad on the resumption of oil exports from the fields of the region by 100 thousand barrels per day, but the statement did not refer to arrive at solutions on the budget.

Usually sees the preparation of budgets, the country's financial and approval delays by the government and the House of Representatives because of the many objections and criticism of certain paragraphs highlighted aspects of exchange and the financial allocations for some government institutions and the three presidencies.

The House had previously acknowledged last January that the 2010 budget at 72 billion and $ 400 million deficit of $ 19 billion and $ 600 million, assuming the price of a barrel of oil at 62 dollars and 50 cents.

http://www.aknews.com/ar/aknews/2/213878/

Hoshyar Zebari: 2011 a crucial year for Iraq and the attendance of the summit of Baghdad would be a very good

Sign and Minister Zebari Aforeigphochear To be a very crucial year for Iraq and said that the political and economic challenges facing the major security and the Iraqi government is currently stressing that the government is required to Ptnevz obligations and commitments in order to prove that it is able to move to Iraq where it is.

And said Hoshyar Zebari, told an embedded reporter that "this year will be very crucial in transit to Iraq where it is."

He added that the challenges facing the Iraqi government, many "and should implement the agreements agreed upon and put into use."

He pointed out that the political side of which is that the current government must be fully formed and that many of the States watching the political stability "relative" in Iraq was now after the formation of the government, "Is it a fact or not," in addition to the benefits of the international political lie ahead for Iraq, especially with regard to his exit from Chapter VII, the international sanctions that were imposed on him by the UN Security Council.

Zebari said the security challenge is that this year will mark the end of the military presence of foreign (U.S.), according to the security agreement signed between Iraq and the United States. He added that the economic challenge will be to the government's ability to show it was "able to develop Iraq's oil wealth and gas through licensing contracts" signed by Iraq last year with a number of foreign companies the world.

But Zebari said: "I think that prospects are bright, but you must work and continuous effort in this direction."

The Iraqi government was formed late last year but a number of ministerial portfolios and private security is still vacant is not set and the ministers have yet another addition to the bags other task such as the Ministry of Commerce and the Ministry of Electricity.

He predicted Zebari to see the Arab Summit scheduled to be held end of March, post a large Arab and explained that the extensive contacts took place with Arab leaders in Sharm el-Sheikh economic summit in Egypt recently and said "We have received commitments explicit and clear from the number (from the Arab leaders) and I can say that the attendees will be looked very good to attend this summit."

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The specter of judicial custody threatens $ 50 billion .. Central warns of loss of protective umbrella of funds abroad

Warned the central bank governor and financial experts from the implications of the Federal Supreme Court's decision to inflict the World Bank and the government especially with regard to the fate of foreign exchange reserves, which total more than 50 billion dollars deposited in U.S. banks and Jordan.

The central bank adviser said the appearance of Mohammed in a press statement: "The bank and because of the independence of its reserves in foreign currency does not deal as an asset or assets of government, but rather is cover currency in support of economic stability and linked to the wealth of individuals and stability, incomes, and on this basis to take over much of central banks in major countries to provide This protective umbrella of the money the central bank of any legal proceedings)."

He said: "This applies to Iraq as well, the fact that that money is the protective umbrella of state prosecutions may be raised by creditors on the former Iraqi government."

Indicating that the (bank will lose this protective umbrella in case of loss of independence, the fact that his money, government money and perhaps under his money abroad to judicial custody and this would cause the cover of currency and financial stability of the country and these caveats are essential in the topic).
In answer to a question on the extent of central bank independence and future plans, Saleh said that (this is known now, because the Bank independent in accordance with paragraph 2 of Article 2 of Law No. 56 of 2004).

He explained that (the directors of the bank alone bear the responsibility for achieving the objectives of monetary policy in the event of a decision means that the existence of parties and other partners, which prevents its accountability to the House of Representatives, while Article 103 II of the Constitution subject to the Bank's accountability to achieve its objectives, creating a conflict of validity for the implementation of this policy).

http://www.shatnews.com/index.php?sh...article&id=821

Hoshyar Zebari: the formation of a higher ministerial committee to address the outstanding issues between Iraq and Kuwait

The Ministry of Foreign Affairs, the formation of a higher ministerial committee to deal with all the files and the outstanding issues between Iraq and Kuwait.

He said Foreign Minister Hoshyar Zebari on the sidelines of a ceremony held at the Kuwait Embassy of Kuwait's independence on the occasion of rejoicing that "there are a number of issues still outstanding between Iraq and Kuwait, notably the Security Council resolution 833 and the demarcation of the border signs and compensation and the missing Kuwaitis, return Kuwaiti archives."

Zebari said that "Iraq is in agreement with the State of Kuwait to set up a high ministerial committee to address all the files and the outstanding issues between the two neighbors."

http://www.radiodijla.com/cgi-bin/ne...?id=2011-01-27

Maliki directed to address the problems of rapid procurement contracts ration card items

Prime Minister Nuri al-Maliki and the Ministry of Commerce to address the problems encountered in contracting processes and procurement of the items of the ration card through the mechanisms of urgent and quick.

Undersecretary of the Ministry of Commerce and sweet Walid said in a press statement today, "said al-Maliki face of the officials in the ministry to solve the problems facing companies developed to secure the basic vocabulary related to contractual mechanisms governed by the mechanisms of government contracts."

The sweet: "The Prime Minister, the ministry granted broad powers to conduct contracting and procurement and insurance mechanisms of fast food does not cause any shortages during the processing of the citizens residing within."


http://www.radiodijla.com/cgi-bin/ne...?id=2011-01-27

Iraq's oil revenues rose last year by 26%

A statement issued by the Ministry of Oil that the proceeds of Iraqi crude oil exports have risen over the past year by 26%, due to increased global prices. The statement pointed out that oil exports amounted to 689.9 million barrels during the year 2010, an average of 1.89 million barrels a day, selling price was $ 83 in early 2010, arrived late to about $ 90.

He said the ministerial statement that Iraq earned an amount of 52.2 billion dollars from oil exports during the past year, while he sold in 2009 at $ 41.3 billion.

http://radionawa.com/Ar/NewsDetailN....863&LinkID=155

Iraq meets all its financial obligations for balance of the Arab League

The representative of Iraq at the Arab League on Wednesday, Iiqae on Iraq for all its financial obligations for balance of the Arab League, pointing out that Iraq is covering 10% of the university budget.

The ambassador said Qais al-Azzawi told the Kurdish news agency (Rn) on the sidelines of the Extraordinary Meeting of the Standing Committee for Administrative and Financial Affairs of the Arab League Council held in Cairo, "The meeting discussed the re-consideration of the contributions of Arab States to balance the Arab League in 2011 in implementation of the Sirte summit Arab."

He explained that "the Arab leaders decided to increase in the Sirte summit of the Arab League's annual budget by adding $ 61 million in it, ie, by 10 percent."

He stressed that "Iraq is committed to pay all financial obligations of the Arab League, which amounts to 10% of the university budget," explaining that "some Arab countries objected to the increase in the budget of the Arab League and requested to remain the case on what it."

For his part, said Ambassador Samir Seif Yazal Assistant Secretary General for Administrative and Financial Affairs of the Arab League during the meeting, "This meeting would consider the subject of reconsideration in the proportions of the contributions of Arab States in the university budget in light of a request from some Arab countries."

He explained that "the prevailing opinion reached by the participants is to keep the situation as it is, and keep rates the contributions of States in the university budget as is the minimal 1% Top 14%".

Alyazal and that "this extraordinary meeting came at the request of Arab leaders at the Sirte summit on the need to re-examine the rates of contributions of States in the budget of the Arab League."

He noted that "the debate revolved around the request of some Arab states to conduct a study on the return rates of contributions until States could comment on the subject," asserting that "many countries prefer to keep the situation as it is given that the current financial year 2011 witnessed the payment for the first time more 90% of the contributions of States in the budget of the Arab League."

He pointed out that "This reflects that the proportions of the contributions of States in the budget is acceptable, and will bring its recommendations to the next meeting of the Standing Committee for Administrative and Financial Affairs at its regular session in preparation for submission to the Arab foreign ministers at their meeting scheduled at the top of Baghdad in March next year."

http://www.aknews.com/ar/aknews/2/213714/

Oil: External debt continues to follow the oil due to Jordan

Said ministry spokesman Assem Jihad said the Oil Ministry of Foreign Affairs continues to follow the debt owed by the oil to Jordan.

Jihad said the Agency by news Thursday that the Ministry of Foreign Affairs, through diplomatic channels, will continue its contacts with Jordanian counterparts to obtain the Iraqi debt by approximately $ 144 million Kathman crude oil and derivatives back in 2003.
He said the Oil Ministry is not authorized to claim for debt, but it was up to the Ministry of Foreign Affairs.

http://radionawa.com/Ar/NewsDetailN....895&LinkID=155

Baghdad hotel owners fear for their inability to complete the restoration by the Summit

Race Arab confirm participation in the summit Baghdad Arabic, did not appear in the level of previous income owners Baghdad hotel with time, the allocation is fifty million dollars each hotel to receive the Arab leaders were not sufficient to accelerate restoration of the show organizers to those hotels not to trust their ability to complete the rehabilitation work by the time of the summit.

On behalf of Antoine / Director of Hotel Babylon: The reconstruction of radical furnishings, restaurants and kitchens infrastructure, all because more than one-twenty years, the duration short and will be completed much of the hotel to welcome guests of the Summit such as housing, kitchens and restaurants are either squares Foreign delay may occur in which to some extent .

While it seems Elias hosts the Arab leaders, supposedly coming to the Baghdad politicians seem confident of the success of the summit, which confirmed the presence of many countries led to it.

Hoshyar Zebari / Iraqi Foreign Minister: Ahnp Hsalnh guarantees and pledges from all the Arab countries to participate and the dates of occurrence and unanimously.

To the insured / Kuwaiti Ambassador: His Highness gave a promise to the Iraqi leadership to be the first one will attend this conference and in doubt that the summits have a positive effect on all Arab states.

Apart from the psychological pressure that he is undergoing from attending the summit of politicians and other citizens seem inclined to joke about the old Iraqi hotel or the ongoing preparations in general.

Fellow / year after completing the achievements Mikdron BBC and restoration Migon live the Arab summit in this place may Ijtm other place or the second best and be better than this place

Citizen / God willing Ikmulhe Old job a little slow and the establishment of God Legion Ischofoha

Citizen / Vadguenp is enough for weddings even enough for the Arab summit failure Mtcfhi defect Wayne Nklehm Anojrlhm homes needed

The indifference of the Iraqi summit justified Anchalghm issues such as housing, unemployment and services they emphasize that it is for them more important than place of residence of the Arab leaders in Baghdad or to attend to in the foundation.

http://www.alsumaria.tv/ar/Iraq-News/1-59526-.html