Thread: Iraq/Dinar News. Before Feb. 21, 2007

World Bank confirms its support of Iraq

The Director of the World Bank and the determination of Howes Dobk Bank <to stand by Iraq until security and stability>, pointing out that the bank <approved a program to support the Gaza Kah Raba in Iraq>.

A statement by the Iraqi Council of Ministers meeting that pw d-Dobk and Prime Minister Nuri al-Maliki, , who praised the attitude of the World Bank and non States Yeh other, that contributed to support Iraq during the difficult phase Walt j passes by, He pointed out that <security crises and economic ramification j facing Iraq now. the result of more than 30 years of the wrong policies Walt j adopted by the former regime>. Also discussed at the meeting, , which was attended by the Minister of Finance, the Iraqi statement Jabr Al-Zubaydi, ways of World Bank support to Iraq, especially regarding the Bab Head Bank and how to implement it, , as well as research in the arrangements for the activation of cast happen loan to Iraq of 500 million dollars.

It should be noted that the World Bank requires the government to Ar jackets eliminate subsidies for oil derivatives, in return for granting loans.

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ALREADY POSTED, BUT STILL!

WORLD BANK AND IMF ARE DONE IMO!!

The requirements of economic development in Iraq
(Voice of Iraq) - 14-02-2007

Adel Abdel-Zahra Nabhan At the current stage where our economy Aleut Nee crises and underdevelopment highlights the importance of promoting and achieving a for socio-economic development to ensure the level of Mako told of living of the citizens and fair distribution of riches in the under a government of national unity and democracy. The deterioration of the indicators R. Iraqi economy, the continuing decline in the rates of n mo GDP and the high rates of Abata him among the population and the spread of poverty, malnutrition and Ankhva z agricultural and industrial productivity and increased adoption of a for the national economy, the oil-for a retreat sectors for the other economic. and can overcome underdevelopment economy j through economic development, which must be paid dyes for social development as progress in a side the material leads in the case of neglect of the social aspect to the Gap Wat, which some call the process of civilizational backwardness. a what is the concept of development (how to make the total output betrays and faster than the degree of population growth). As for how to make the total output grows and develops more population growth, it will do so by :

1-introduction of scientific and technological development, which reached the Yeh world when Iraq was isolated because of a blockade for imposed as a result of the aggressive policy of the pain Bad. According to studies conducted by some Almaouali The contribution of educated group of ten years of school or a secondary stage, which ended the 30-80% uniforms this contribution Group, which ended a four-year education. k as technology plays an important role in the development manufacturers Yeh and agriculture. The findings indicated that one of Monetary Studies m technology is responsible for 90% of the increase in Matos i capita income for the period 1900-American in 1960 while he was T. increase in the use of capital is responsible for only 10%. According to another study that the average labor productivity in the manufacturers e adopted technological advances had risen by 25 0% in six years, while increased by 1% for the same and acknowledged e in the industry did not adopt any technological development.

2-providing skilled manpower and work on the Tahe told Iraqi manpower and increase their experience and Mahar Aya functional through implicated in courses within the and outside Iraq.

3-programming and the importance of planning in the mobilization of resources and Alt Agat and its role in increasing productivity and achieving a development for sustainable, and not to leave the reconstruction process of the evolution of the spontaneous and A. and Ddue terms of programming and planning help to identify Alahid F and priorities. and here Angsid central planning Alpes Irocrati hardline and lacking the flexibility and mobility meters a drawing was in the former Soviet Union, State or head East, but we mean by planning based on a link the two members of the central defining basic trends in the evolution of the economy and the decentralization of achieving these Afterward the trends of the institutions and economic projects based on democracy in the political relations e and social activity in those institutions and organs of the UN him. it can not be done without the development planning is passed duck by radical can also benefit from the experiences of people in this area, but without hard every country had its etc. Esh.

4-availability of hard currency. is essential to the process of economic development.

5-abundance of capital, In the case of Iraq, the size of the debts Wilmot requests for reconstruction is the use of funding external and allowing foreign investment is necessary , to be directed towards sectors such investments productivity needed by Iraq in addition to the foreign Alastaanhbalrassamil Ttta the heart of a specific controls including :
A. Not to allow foreign capital to occupy the sensitive centers in the industry and the economics of the country.
B. Systems strict shrinking export profits caused e earned from foreign investments abroad, used in the production within the country.
C. The recruitment of foreign capital in the manufacturing process and agricultural production and solve the fundamental problems in the process development.
D. Contribute foreign companies, which will work in Abra s transfer expertise to the production and administrative of Iraqi N.. E. That these companies to transfer scientific revolution Walt Knolojeh modern and work to be absorbed by the Iraqis. That sojourn to rely on foreign capital in achieve economic development to create a state of the books consciousness economic capital of the world.

6-providing technical and administrative requirements.

7-availability of statistical data and abundance of Ahs Landespolizei is important to achieve economic development Alajtm conscious.

8-coordination between fiscal policy and investment.

9-encouraging the repatriation of capital and support and protection for the private sector to turn contributes to the achievement of tuna Mia.

10-reform of the tax system and tax activated to play its role in promoting the general budget resources.

11-fight financial and administrative corruption, which is the m n hazardous obstacles to development.

12-diversification of the national economy and reduce dependence on a OPEC oil as a resource for the budget.

13-coordination between monetary and fiscal policy and Tuzi Vhalagrad stimulate economic growth and achieve the goals of a for the development.

14-development of the banking system and its role in the financing of the activities of investment productivity.

15 - to work to support efforts to repeal the highest possible proportion m n external debt and financial compensation implications on Iraq, where failure to reduce the debt ratio got Mertv Eh of the revenues from Iraq's foreign exchange, which would affect p I development.

16-Scientific Research : It is necessary to improve the production and development of both Els Appalled by industry, The developed countries spend large sums on research pw for Mia. Statistics point out a few specialties Or bill for Scientific Research and limitations in developing incentives Yeh, including Iraq. The universities in developed countries, a center radiation and knowledge and scientific research being done by the university professors while Iraq lacks this only Over the vital and that can be played in the service of the universities development and research directed to a service sectors productivity (agricultural and industrial) to develop and increased productivity, note that our universities interested in the graduation numbers of graduates without paying attention to side, research and scientific Alttab supports him for that lies with the Ministry of Higher Education and Elbe he urged the scientific review Pmenahjaha and focus on the committees b scientific research (after the provision stop) disproportionate m p Iraq needed for the advancement of economic sectors brain enveloped.

17-scientific policy of the State : The intended total legislation and procedures Executive e taken by the State to regulate scientific capacity Walt Knolojeh to achieve the objectives of the country's overall development. The goal of this policy is to benefit from science and Altknoloj you, as personnel in the economic and social growth and Althk Avi. Iraq is currently in dire need of such a the policy, which allows him to know the numbers of its scientists and achievements are the scientific specialization and benefit from the completion of a Research that serve the development process in Iraq to deport him a economic, social, cultural, scientific and political and ensure that the results of scientific research into n Taj practical benefit economic sectors in Albla d. That is why we stress the need to create a scientific base talking back within the country, and caring for scientists and researchers Iraq Yin and address the causes that lead to migration out of Iraq. The true measure of any development is to satisfy a the basic needs of the community and b :
A. Justice in the distribution of national wealth and access Almoat Nene to adequate housing and adequate food with their p me basic services.
B. The provision of education and health services to all the sons of Sha b and equally.
C. The equitable distribution of national income to the population.

Sotaliraq.com

World Bank to provide $500m loan to Iraq
MENAFN - 13/02/2007

(MENAFN) The Managing Director of the World Bank (WB) said that the international firm is willing to support the Iraqi government's efforts to restore economic activities in the war-torn country, Iraq Directory reported.

The WB official indicated that the bank has pledged to deliver a $500 million loan to Iraq in order to boost the economic situation despite the security conditions.

He added that the bank will improve Iraq's power sector as soon as the government allows international investments in oil resources.

MENAFN - Middle East North Africa . Financial Network News: World Bank to provide $500m loan to Iraq


"DESPITE SECURITY", this game is now ALL or NOTHING!!

IRAQ NEEDS THAT STRONG CURRENCY AND WILL GET IT SOON!!!

Iraqi government provides 6,519 housing loans to nationals
MENAFN - 13/02/2007

(MENAFN) The Iraqi Reconstruction and Housing Minister said that the ministry started to offer house loans to Iraqi nationals through its housing fund, Iraq Directory reported.

The minister added that the number of loans has reached 6519 for Iraqi people and employers to build houses in 15 provinces as part of the ministry's efforts to solve the housing crisis in the country.

MENAFN - Middle East North Africa . Financial Network News: Iraqi government provides 6,519 housing loans to nationals

Cyprus cancel the entire debt on Iraq and the start of Luzon e cancellation of the Turkish
14-02-2007


The Ministry of Finance indicated that talks with Al m on debt cancellation for Iraq is suspicion l positive and accelerated, A statement of the ministry received the "Today" that the copy of another what has been reached in this area is the cancellation of all Cyprus debt on Iraq confirmed its continued support for the MI birth of the reconstruction of Iraq and pointed out that the Minister of Financial e Baqir Jabr Zubaidi and his Cypriot Michles and Sazers Sign on the sidelines of the annual meetings of the IMF international and the World Bank held in Singapore agreement Yeh bilateral agreements whereby the entire debt stock of Cyprus on Iraq.

And Cyprus is the fourth of creditor nations bumpy s, which abolished all debts according to the Paris Club in Tesch Rennes II in 2004 to reduce the 80% of the de Iraq's foreign won. Cyprus is also State 50, which resolved its financial problems M. p Iraq, including 33 who are not members of the Paris Club o note that the total debt of Iraq amounts to 140 billion $.

At the same. Research and the Minister of Finance with Turkish Minister of State for Papan , the points related to the settlement of debt was exchanged views on the points that were raised during the meeting and agreed frameworks in place to determine the date of the meeting between Prince advisers at the technical level for the purpose of conforming to the completion of the debt seen Kia on Iraq and determine the position of the Turkish side on the Ak capital of the draft Convention and prepared for the purpose of signing.

Reliable and Iraq on foreign aid pledged mechanism by the donor countries for the reconstruction of the country as well as the cascade. Tao oil, which suffers from sabotage, smuggling and Alves Ed administrative and financial.

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"BIRTH OF RECONSTRUCTION OF IRAQ"!!!

WE ARE ENTERING THE NEXT STAGE!!

BRING IT ON!!!

Bill private investment in the crude oil refining بأسم الشعبThe name of the people
مجلس الرئاسةThe Presidency
بناء ) من الدستور.Based on the approved by the House of Representatives and approved by the council of% preferring Based on the provisions of item (I) of article (61), item (3) of Article (73) of the Constitution.
صدر القانون الاتي:Law issued the following statement :
رقم ( ) لسنة 2006(No.) for 2006
قانون law of private investment in the crude oil refining
المادة -1-Article 1--
يهدف.The purpose of this Act is to encourage the private sector in the referenced thigh-economic development process in Iraq and Alash Or in the building of the industrial base through entering emerged i liquidation of crude oil.
المادة -2-Article-2 -
اولاً-يق منتجاتها.First-for the private sector to establish refineries to liquidate the oil raw and possession of the land without the operation, management, and settled forth products.
ثانياً.Second : the private sector is intended for the purposes of this Act, every company total Iraqi companies or foreign individual or a group T. possibility of financial Mainland er Asmal particular institution in accordance with the provisions of Gan companies Win No. (21) of 1997 and is capable of creating a sucking Avi for the liquidation of crude oil and Khbarateh technical qualifications.
المادة - 3-Article-3 -
تلتزم.The company invested operation Iraqi ones Bom a no less than (75%) of the seventy-five% of the Group of workers.
المادة -4-Article-4 -
يشترط .The refinery is required to be an advanced technological level of Wa n rate does not exceed the production of heavy oil derivatives the Ha (20%) of the 20th%.
المادة -5-Rule-5 -
تقوم فاة).The Ministry of the processing of these oil refineries including Caspian crude commensurate with the operational and energy prices and the world Yeh under a contract signed between the Ministry of Oil, the company Almstth once according to the following equation Price : (export price of Iraqi crude oil on the back of a minus tanker (FOB) to world markets minus (1%) one cent addition to the cost of transporting crude oil the closest point of delivery to the refinery).
المادة -6-Article 6--
اولاً بنق طة التسليم.First-refinery processing crude oil from a pipeline the tanker is the closest point is suitable for refinery and knows Bang Taha extradition.
ثانياً.II - The Ministry of Oil and sustain installed and operating MUNCH AT measurement and control Nfqha and will be responsible for Tchg spends and sustained.
.Third - that the company invested a pipeline Lang crude oil for a bridge between the point of delivery provided a in item (I) of this article and the refinery. .At their own expense, and be responsible for the operation and maintenance.
المادة -7-Article 7--
.Tkhaddg measurement and control facilities to inspection and Almai periodic danger of a third party competence of the company's prestigious pain Stthmerh Coupled with the consent of the Ministry of Oil.
المادة -8-Article 8--
.Does the company's trading crude oil from the recipient and Ministry of Oil and oil derivatives produced in pain net government.
المادة -9-Article 9--
الحرة من العراق.The project has built in accordance with the provisions of this law that Matyazat granted to the projects are constructed in order to s free from Iraq.
المادة -10-Article-10 -
اولاً - .First-of the investing company determine the prices of their products a the oil and sold them inside Iraq or exported to only Drivers of Foreign Affairs and with the controls in place in our pain Hink free.
ثانياً -Ministry in preference buy products set forth in item (I) of these e article.
المادة -11-Article-11 -
تلتزم.The company invested capital to submit periodic reports Yeh and technical to the Ministry of Oil, according to the model prepared by the the Ministry under instructions issued by the minister.
المادة -12-Article 12--
اولاً- .First-invested leasing company that it needs a the draft of state-owned land owned by a mere , owned by the municipalities, In the areas earmarked for investment and may استءجا R. private land under contract defines the rights and obligations of a the investing company and the owner of the land.
ثانياً-رقم (32) لسنة 1986.II - The Ministry of Finance to allocate a plot of land epic of the company invested through lease for a less Ali (40) 40th year, renewable lease and the age allowance Wei agreed upon by the parties exception to the provisions of the sale and rent state funds (No. 32) of 1986.
به..Third-may not be of the investing company to exploit the land - refinery project and the attached services.
رابعاً- العقد.IV-to the Ministry of Finance to withdraw land from the company's offerings Tthmerh use in the event other than for purposes of the project or not utilization during the period agreed upon in the contract.
المادة -13-Article-13 -
.The company invested secure energy electricity Yeh and support services for the activities of the project.
المادة -14-Article 14--
.The company invested the use of public utilities (Kamel Stodat, ports and export pipelines.) By pw d between them and the Ministry of Oil or ministries, companies introduced T. relationship regulates the rights and obligations of the parties.
المادة -15-Article-15 -
الصناعية.The company invested observe laws and Lights armpit environmental and industrial safety.
المادة -16-Article 16--
تخضع.Products subject refineries covered by the provisions of this Law n to the laws and regulations governing the quality requirements The calibration and quality control.
المادة -17-Article 17--
.First-constitute a ministerial committee called (the investment in the activity of the liquidation of crude oil) from the Ministers (oil and financial e, environmental, industry, electricity, planning and Alta Wen UNDP) is the Council of Ministers and will be based in the Ministry of Oil.
ثانياً_- للجنة.Second---called oil minister employees entitled general manager from the Ministry of Oil Rapporteur of the Commission.
ثالثاً.Third--the Commission has the task of considering applications for the establishment of crude oil refineries from the private sector and Asda R. approval in accordance with the provisions of this Act.
المادة -18-Article 18--
.The Minister for Oil issuing instructions to facilitate the implementation of the provisions that law.
المادة -19-Article-19 -
ة.This law implemented from the date of its publication in the official gazette e. الاسباب الموجبةReasons
مية.In line with the new economic transformations in Ar Requests and the aim of increasing investment opportunities for the private sector to a the Iraqi foreign and broaden the base of participation in the activity Tass when crude oil to increase the capacities of local production oil derivatives, and improve quality and achieve Marron e and reducing the deficit and bottlenecks in refineries Hako Mia.
شرع هذا القانونLaunched this law

OFFICIAL????????????????
جريدة المواطن العراقية

THE OFFICIAL GAZETTE IS BACK UP

NOTHING HAS CHANGED!!

uruklink.net........اوروك لنك ARABIC SIDE IS DIFFERENT

BUT TRANSLATION ON GOOGLE IS THE SAME.

HMMMMMMMMMMMMMMMMM

SORRY FOLKS, APPARANTELY IT'S JUST THE DERIVITAVES LAW

*NEW*LORD TIM CLEMENT-JONES LEADS BRITISH TRADE DELEGATION TO KURDISTAN REGION IN IRAQ

Erbil, Kurdistan-Iraq (KRG.org) - Lord Tim Clement-Jones, the British peer who led a British trade delegation to the Kurdistan Region in Iraq last week, described the Region as full of potential for investment.

British Delegation with Ashti Hawrami, Minister for Natural Resources in Erbil, Kurdistan in Iraq
British Delegation with Ashti Hawrami, Minister for Natural Resources in Erbil, Kurdistan in Iraq

The member of the House of Lords led a delegation made up of members of the Middle East Association (MEA), including Michael Hodges of HSBC bank and Chris Holden of Price Waterhouse Coopers.

Lord Clement-Jones said, “We met several senior ministers as well as many people engaged in the private sector in Kurdistan, which helped us gain a strong understanding of the business climate and investment opportunities in Kurdistan Region. We satisfied ourselves that the security situation in Kurdistan is conducive to doing business there. We also met Prime Minister Nechirvan Barzani, a very effective leader who with President Masoud Barzani has a real vision for the future of Kurdistan.”

Two years ago he visited Kurdistan and promised Prime Minister Barzani that he would return with a trade delegation.

The delegation, whose trip was organised by the Kurdistan Development Corporation and hosted by the KRG Office of Foreign Relations, met various cabinet ministers and senior government advisers, who gave them an overview of the political, security, economic and financial situation in Kurdistan.The Kurdistan UK Friendship Association, which this month opened its office in Erbil, hosted a reception for members of the delegation on their first night and invited them to join the association.

Michael Thomas, Director General of the MEA, said, "Our visit was very successful and we received a very warm welcome from the friendship association, the business community and the government. Our report to the members of the MEA will give them a real insight into the Kurdistan Region. We were delighted to meet members of the Erbil Chamber of Commerce, and we’d like to return to Kurdistan with a delegation of medium-size businesses to develop contacts with the Chamber and Kurdistan’s businessmen.”

Also in the delegation were Lord Anthony St John, Philip Stephenson of Davis Turner freight logistics, John Irish of the Middle East Economic Digest, John Vergopoulos of Raphael Group infrastructure project management, Philip Dew who has a business development consultancy, and Nick Hills of Two Rivers legal practice. They were accompanied by Bayan Sami Abdul Rahman, KRG Representative to the UK and chairman of the Kurdistan Development Corporation.



- - -

Originally Posted by Raditz

The 863 daily currency auction was held in the Central Bank of Iraq day Wednesday 2007/ 2/ 14 so the results were as follows :

Details Notes
Number of banks 12 -----
Auction price selling dinar / US $ 1286 -----
Auction price buying dinar / US $ ----- -----
Amount sold at auction price (US $) 49.685.000 -----
Amount purchased at Auction price (US $) -----
Total offers for buying (US $) 49.685.000 -----
Total offers for selling (US $) ----- -----

Doe's anyone know if we have hit the 5 Trillion pulled from Circulation yet? Scorata850 normally keeps us up-dated, but I guess he's on a hiatus for now.

Just trying to put a square peg in a round hole at the moment.

Thxs, Gloribee