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ICI meeting to discuss improving Iraqi economy Thursday
SHARM EL-SHEIKH, 03 May 2007 (Kuwait News Agency (KUNA))


The International Compact on Iraq (ICI) meeting, to kick off here later Thursday with the participation of 18 member states and organizations, will discuss boosting economy and investment in Iraq.
Kuwait's delegation to the meeting is headed by Deputy Prime Minister and Foreign Minister Sheikh Dr. Mohammad Sabah Al-Salem Al-Sabah.
The ICI is a five-point plan aimed at supporting Iraq's economy and was initiated in June 2006 between Baghdad and the United Nations (UN) with the support of the World Bank.
The compact that will be launched in Sharm El-Sheikh today has rallied unprecedented international support and presents a new partnership with the international community based on Iraq's vision and a commitment on both sides within a dynamic frame of national consensus and international support.
Moreover, the ICI is considered a national compact for the reconstruction of Iraq and paves the way for self-sustainability and prosperity of a society in which democracy prevailed.
Goals of the ICI are to guarantee Iraq's commitment to basic social and economic reforms, improvement in resource management, strengthening state institutions, developing the private sector, restructuring the financial sector, boosting safety and security, and establishing an institutional framework based on the sovereignty of law.
Iraq's commitment to the above would be, in turn, paralleled by initiatives by donor countries.
The ICI also aims to arrive at a national Iraqi vision that achieves the aspirations of the people and roots principles of democracy in a safe and stable country were people enjoyed equal rights and responsibilities.
Furthermore, the meeting will specify the goals that must be accomplished by Iraq within the next five years, and participating countries are expected to make a number of pledges in this regard.
The UN has placed reforms in Iraq's politics, economy, security, counter-corruption, and management as a condition for aiding the country and supplying it with the necessary expertise, as well as reducing its debts.
The ICI, which precedes Friday's extended meeting of Iraq's neighbors, will grant international financial, political, and technical support for Iraq in return for the aforementioned reforms.
The meeting will also specify the type of international aid required by Iraq to help it in its reform efforts.
The 18 ICI members include Iraq, Saudi Arabia, Kuwait, the US, Britain, Spain, Italy, Japan, Canada, South Korea, the Islamic Development Bank (IDB), the World Bank, and the International Monetary Fund.

ICI meeting to discuss improving Iraqi economy Thursday | Iraq Updates

Originally Posted by Hkp

China declares Astaadaddha to reduce and write off the debt owed to them

(صوت العراق) - 03-05-2007

(Voice of Iraq) - 03-05-2007

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China declares Astaadaddha to reduce and write off the debt owed to it by Iraq

The Chinese Foreign Minister Yang Chi reason that China is willing to reduce and write off the debt owed to it by Iraq in a fundamental way.
Yang Zhi good in a speech before the Conference of the International Covenant Tastier Iraq began in Sharm el-Sheikh earlier today said that the Chinese initiative comes at a time when his country for a grant valued at 50 million yuan (about six million five hundred thousand dollars) this year to promote the public health and education Iraq.

He added Chinese Foreign Minister that Beijing took into account the demand for the reduction of Iraqi debt write-off under the arrangements for the Paris Club is prepared to resolve the issue through friendly consultations continuing with Iraq.

Yang stressed in his speech that the international community needs to increase consultations and coordination in order to help Iraq with the United Nations upholding the cover.

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Translated version of http://www.sotaliraq.com/

Originally Posted by Hkp

Conference pledges 30-bln-dollar debt reduction for Iraq
By Lamia Radi
SHARM EL-SHEIKH, Egypt, 03 May 2007 (AFP)


UN chief Ban Ki-moon said that debt reduction of 30 billion dollars had been pledged by countries attending a key conference on Iraq in this Egyptian Red Sea resort on Thursday.
"Specific financial commitments by particular countries are estimated at over 30 billion dollars," Ban told reporters.
"This includes commitments of debt relief terms of the Paris Club from Bulgaria, China, Saudi Arabia and Greece. It also includes new financial commitments from the United Kingdom, Australia, Spain, China, Denmark and Korea and other key participants," he said.
In 2004 the Paris Club, a group of 19 creditor governments from major industrialised nations dealing with debt restructuring, agreed to cancel 32 billion (80 percent) of the 40 billion dollars they were owed by the Saddam regime.
Iraqi officials were in talks with several countries on Thursday to write off billions of dollars in debts, and threatened to block investment opportunities for those who did not.
"Any country that is not scrapping debt or does not respect Paris club recommendations will not be allowed to invest in Iraq," Finance Minister Bayan Jabr Solagh told AFP on the sidelines of the international conference.
Jabr's warning was chiefly aimed at Russia, to which he said Iraq owes around 13 billion dollars.
Moscow has reportedly said it was ready to scrap the debt in exchange for investment in the major southern Iraqi oil field of Rumaila.
"I don't think Russia should link (debt reduction) with investment in oil," Solagh said.
He said 54 out of 65 countries that had granted loans to Saddam Hussein's regime had agreed to write off Iraq's debt, which amounted to around 140 billion dollars.
"We still have 40 to 50 billion dollars," he said.
On Thursday, Saudi Arabia renewed its commitment to reduce Iraqi debt.
"Realising the strains caused by debt and due to the current circumstances in Iraq, the Kingdom of Saudi Arabia has announced its will to reduce Iraq's official debt," Saudi Foreign Minister Saud al-Faisal said.
The oil-rich Kingdom is expected to forgive 80 percent of its estimated 20 billion dollars in loans to Iraq, but the process will take place in stages in line with Paris Club procedure, Solagh said.
He said he also expected Egypt to cancel Iraq's 800-million-dollar debt.
China has agreed to strike 80 percent of Iraq's eight billion dollars in loans, while Kuwait is awaiting a decision from its parliament to drop the two-billion-dollar debt it is owed, according to Solagh.
Foreign ministers and top diplomats from more than 50 countries are gathered in Sharm el-Sheikh to launch the the International Compact with Iraq (ICI), a five-year plan aimed at stabilising the war-torn country.
The document includes a raft of measures to inject fresh impetus into Iraq's economy, improve governance and offer financial assistance in a process key players hope will bolster reconciliation between warring communities.

Conference pledges 30-bln-dollar debt reduction for Iraq | Iraq Updates

PUKmedia Sharm el-Sheikh Ibrahim Mohamed Sharif :

م.The Saudi Arabia and Iran, Britain, America, Kuwait and China today, Thursday, May 3 May 2007 material support and loans to Iraq as well as Iraqi debt reduction, all of which are conducive to building a strong Iraqi economy and reconstruction, especially the aspects relating to health and education.

حيث.Where Iran submitted ten million dollars loan to Iraq and the Catoca trillion dollars paid during 30 years as Saudi Arabia offered support for Iraq worth $ 1 billion in cooperation with the International Monetary Fund and the Great ten million pounds sterling and Kuwait reduced 80% of Iraq's debts.

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Iraq : oil contracts entered into prior to the issuance of the law fuels void

03 / 05 / 2007


Riyadh (AFP) - warned Iraqi Oil Minister Wednesday that any contract entered into by a company of Iraqi oil before ratifying a new law for gasoline will void.

The minister said Hussein Shahrastani told reporters on the sidelines of a meeting of Asian oil ministers in Riyadh "will not be recognized by any contract under the current law or the new law" if concluded prior to ratification of the new law.

He added, "companies should refrain from signing contracts before the new law in Parliament and approval by the Federal Council of oil and gas."

The Ministry of Oil in the region of Iraqi Kurdistan announced last month that the territorial government contracts will be concluded especially if Iraqi Parliament has not ratified the new law before the end of May.

The draft law approved by the Iraqi government opened the oil sector to foreign investment.

Under the draft law will supervise the oil sector in Iraq, the federal and oil company independent national.

The law will allow the sharing of oil revenues equitably between Iraq's 18 provinces on the basis of population and therefore will Kurds including between 18 and 20% of the oil wealth.

marsadiraq.com

Barham Salih : hope of the conference is a turning point and the beginning

(Voice of Iraq) - 03-05-2007

Barham Salih : hope of the conference is a turning point and the beginning of a promising future for Iraq

Sharm el-Sheikh Bilal Voice Iraq - Sharif

Barham Saleh Ahmed said Iraqi Deputy Prime Minister today, Thursday, May 3 May 2007 that the International Covenant provides an appropriate mechanism to satisfy our need for assistance in rebuilding our country and supporting political reconciliation between the two countries, the document also stresses that we must move forward, and through three overlapping fronts : participation political unanimity floor and consolidate security and impose the rule of law, economic reform and reconstruction.
He Barham Salih, who delivered a speech at the opening of the conference hall in the major city of Sharm el .. This document which we are discussing today started in 2006 through the issuance of a joint statement by our government, the United Nations and since then, Iraq is leading a series of talks discussing the present Covenant and now we the result of these deliberations
He (Saleh) that Iraq today has become a field for settling conflicts, regional and international arena sacked by international terrorism, although it is the foundation that our spirit and resolve our problems and challenges.
He pointed out that the summary of what we achieved during the experiment four years ago was the need national political consensus, which is backed by Iraqi regional and international levels as a prerequisite for achieving stability and security in Iraq.
The deal Barham Ahmad Salih theme external interference in Iraq pointing out that Iraq has become a field for settling regional conflicts and international burdens for the transitional political process in the country, we reject the concept of probate and interference of internal affairs for the stability of Iraq and victory over terrorism and extremism.
Regarding track economic Barham Ahmad Salih said that the covenant document included an integrated project of economic reform curve needs to implement a number of actions Aleghanuneo, administrative and institutional order to liberate our economy to begin the process of economic diversification and encourage Almstthmurien of Iraqis and foreigners to invest in Iraq and to encourage the private sector to import oil derivatives and the oil will help to attract new investments. He recommended the need for continued successes in different activate the banking sector and the application of financial management information widely will the Iraqi private sector is the most important allies, we will offer facilities him.
Regarding the readiness with the International Monetary Fund Saleh we have canceled this year, government support and private support for the fuel, which was taking copious amounts of the budget and take appropriate measures for the purpose of protecting the poor and disadvantaged.
He concluded the speech by saying .. The future of Iraq is important and crucial not only for Iraqis but the entire region and the world and the international and regional interest in the Iraqi issue only indication that although access to the stability and prosperity in Iraq will not be easy but they are achievable and Singh in that.

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Originally Posted by Hkp

D word.

برهم صالح - مؤتمر اطلاق العهد الدولي مع العراق

Barham Salih - launch of the International Conference with Iraq

(صوت العراق) - 03-05-2007

(Voice of Iraq) - 03-05-2007

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Word Dr. Barham Salih

Deputy Prime Minister
The launching of the International Covenant with Iraq
Sharm el-Sheikh, Egypt
May 3, 2007

Mr. Secretary General of the United Nations, Messrs. ministers, ambassadors, distinguished guests, ladies and gentlemen,
I would like to begin by thanking the newborn State of Egypt and President Hosni Mubarak to host the launching of the International Covenant, I also remember with appreciation the State of Kuwait and the United Arab Emirates and other friendly nations, which has embraced the draft International Covenant and hosted meetings and Azertna to accomplish.
Also, my thanks to the Secretary General of the United Nations, Mr. Ban Ki Moon for his efforts in expanding this invitation. We have supported the United Nations through its experts all stages of writing the document, and also an expert with the World Bank and our gratitude and, finally, I wish to thank my colleagues from the cabinet and Iraqi experts for their role in the development of the Covenant and Andhajeh axes.
It is a great honor to invite Iraq to the meeting to adopt a document of the International and answered this level at such a critical time in our contemporary history. We hope that this meeting will be a turning point and the beginning steps up to us to a promising future in a democratic, federal and united and prosperous security.
In June, "June" 2006 has been officially launch the Covenant through the issuance of a joint statement by the government of Iraq and the United Nations, and then held a series of discussions and periodical meetings discussing the Covenant and speak, and now offer the fruit of these deliberations document represented the International Covenant which we are gathered today on the offer.

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There is no doubt that Iraq today is a difficult and confronting many challenges and risks. We deal with the terrible legacy of decades of tyranny, and also deal with problems arising from the transitional phase after the fall of the totalitarian regime : problems and internal conflicts and enticements and foreign interventions transformed Iraq into a liquidation international conflicts and regional arena and sacked by international terrorism. The challenges are serious and need radical treatments, serious and critical.

و

And certainly Iraq will be the basis and premise of solving our problems, but we need the help of the international community to help Iraq politically and economically and security in the face of existing challenges.

An International Covenant before you represents the Iraqi national vision and set priorities to achieve the required Iraq to reach political stability and economic prosperity, through a package of measures and mutual commitments between Iraq and the international community. The Covenant provides an appropriate mechanism to satisfy our need for assistance in rebuilding our country and support the political reconciliation among the Iraqis.
In order to achieve this vision, we, and also stresses the covenant document, to move forward on three fronts and overlapping : First, political participation and the consensus call, secondly, establishing security and impose the rule of law, and thirdly, the economic reform and reconstruction.

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With regard to the political process :

We can be proud of many achievements task made at the political level, including the inauguration of a democratic process is unprecedented in the history of our embodied in the elections in which over 12 million Iraqis defied terrorism.
But we must recognize that we still security challenges and serious political, and constitutes Altkeverien terrorists and hardened criminals from the remnants of the former regime, and also the armed militias, the main source of danger to our country. We recognize the need to strengthen the national dimension in the democratic political project and undermine the forces of extremism and sectarian Trenching and national.
And we believe that the exit of the crisis faced by our country passes through support the draft national reconciliation put forward by Mr. Prime Minister and grant new impetus, seriously, through orientation to build a comprehensive national depends on the historic political agreement to solve the problem of power in Iraq. And should include political participation of the deal's real strong national insurers path of peaceful development of the country in national decision, as well as their participation in the stand in terrorists and the forces of evil and darkness and the outlawed armed militias law.
Iraq is today in desperate need of this situation of national consensus devoted to the rule of law and constitutional institutions, and ensure a coalition of moderate sons components. Eloquent and that the lesson to be drawn from the experience of the past four years is the need for political consensus, which is backed Iraqi National by the regional and international levels as a prerequisite for achieving stability and security.

In this context also must recognize that the root causes of the complexity of the security situation and internal political is external interference in our internal affairs and turning Iraq into an arena for the liquidation of its territory and international conflicts overburden transitional political process in the country.

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It required an end to this situation and to respect Iraq's sovereignty and rejected interference in the internal affairs of Iraq.

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Let the stability of Iraq and victory over terrorism and extremism focus unanimous international and regional powers.

And with regard to the task of establishing security and the rule of law,

As you know, has been dissolved the Iraqi army in May, "May" 2003. Since that time, there are efforts being made to rebuild the national army capable of defending the country. We are witnessing today the preliminary results of such endeavors : growing units of the Iraqi armed forces played an important and significant to impose law and order and combat terrorists. And security become stable in many regions of Iraq, for example, in the Kurdistan region, and recently, a number of governorates in the south.

But building the Iraqi armed forces had not yet been completed, and completion of this task will require significant resources over the next few years.
The process of establishing security requires that the state monopoly on Disarmament. For historical reasons, and others, and found several militias and armed groups ... And the government has declared its commitment to addressing this problem .. we found that the solution to this dilemma T_khasaisaata financial needs of the application programs disarming and dismantling the militias and the reintegration, and this is an additional burden on our national resources

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With regard to the course of economic reform :

The Covenant contains an integrated project of economic reform. We need to implement a number of legal and administrative procedures and institutional order to liberate our economy, and without it we will not be able to start the process of economic diversification. For example, the issuance of the Investment Law. , Which will encourage investors, whether Iraqis or foreigners, to invest in Iraq. Well we have a law to allow the private sector to import oil derivatives. The Cabinet also completed more than a month ago the basic framework for the new oil law, we are in the process of completing supplements and other legal contexts required for the law to the House of Representatives. This law will help to attract investments needed to modernize and develop our oil industry and raise the level of our oil exports ... And more importantly, the law on the ownership of the Iraqi people's oil wealth and ensure equitable distribution of oil resources to all Iraqis, without discrimination. Hopefully the law that prevents oil workers to unite Iraqis.

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We must work to eradicate corruption.It drains our resources and reduces effectively deliver services which the government loses credibility in the eyes of the people. We have started actions to improve the implementation of contexts public contracts and financial practices and the application of the requirements of transparency so limit the exercise of corruption.

We are working to activate the banking sector and the application of the Financial Management Information System on a large scale. The private sector will be the most important allies in the Iraqi job creation; We must provide great facilities for this sector to direct economic activities.

Standby Agreement

We need to continue the successes required under the Convention ready Standby Agreement with the International Monetary Fund.We have canceled this year, government support, and specifically support for the fuel, which takes an enormous amount of the budget. At the same time, we take appropriate measures for the purpose of protecting the poor and affected by the shortage and the lifting of this support.

Begun work contexts in this new year of the implementation of the state budget and providing financial and administrative facilities to enable ministries and governorates of the implementation of the budget and investment Alersaudh amounting to 10.5 billion dollars-the volume of this allocation is unprecedented in the history of Iraqi budgets.

We expanded health and educational services provided to our people and upgrading, it is young people and the proportion of youth is the prevailing rate.

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We find ways to bridge the shortfall in housing units at the country level. This long list of issues, each of which require large sums of money.

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The above-mentioned objectives and political and economic security will be easily accessible and require the cooperation and interaction seriously by the international community ...

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And from here this ambitious project and the International Covenant marked with Iraq :

We believe that this Covenant is a partnership based on a common vision and mutual interests and obligations. It is in our interest and the international community that we succeed in this endeavor to take Iraq to safety and prosperity.However, it can not be called on to extend a helping hand to us if we did not accomplish what we need done. For mutual obligations : We as Iraqis pledge to make every effort to ensure the success of the task : a national consensus, introduce the necessary reforms and the fight against corruption.

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We will undertake to implement the measures, which also secured the optimal use of financial resources.

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And realize that we must turn these commitments and promises to draft a genuine process and enter into force ...

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I know very well that there will be sufficient undertakings, and more importantly implementation, which requires strengthening the beginning of the Iraqi National contract for the completion of the required reforms and confront terrorists and extremists.

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And this is the basis on which we proceed with the invitation to participate and us in this ambitious endeavor and render aid, serious actor to enable Iraq to meet the challenges and risks ...

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We invite you to cancel debt and reparations imposed on Iraq from the time of the former regime, we call on you to provide economic assistance for reconstruction actors and offer technical assistance for the development of endogenous capacities Iraqi ..

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We call on you to support the will of the Iraqi Free derived from the democratic process and the Iraqi National Accord and Prevention interventions in Iraqi internal affairs and serious cooperation in the fight against terrorism and undermine the extremists.

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The future of Iraq is important and crucial for the Iraqis, but, as each region and the world ... And what this international attention and regional Iraqi affair only indication that ..

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Yes, that serious challenges, but we can not and you can only be successful in our quest to take Iraq to security, stability and prosperity ... No easy task, and it is investigating, but duty investigation ...

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And I am confident that we will succeed to achieve together .... And thank you.

Translated version of http://www.sotaliraq.com/

there it is laid out in plain english what needs to be done.

Originally Posted by rvalreadydang

PUKmedia Sharm el-Sheikh Ibrahim Mohamed Sharif :

م.The Saudi Arabia and Iran, Britain, America, Kuwait and China today, Thursday, May 3 May 2007 material support and loans to Iraq as well as Iraqi debt reduction, all of which are conducive to building a strong Iraqi economy and reconstruction, especially the aspects relating to health and education.

حيث.Where Iran submitted ten million dollars loan to Iraq and the Catoca trillion dollars paid during 30 years as Saudi Arabia offered support for Iraq worth $ 1 billion in cooperation with the International Monetary Fund and the Great ten million pounds sterling and Kuwait reduced 80% of Iraq's debts.

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Rafidayn Bank Dir-Gen Announces New Reform Program

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03 May 2007 (MEMRI)

The director-general of the Rafidayn Bank in Iraq, Abdul Hussein Al-Yasseri, announced a new program to reform the banking sector in Iraq through the introduction of a comprehensive electronic system.

[The Rafidayn Bank is the largest commercial bank in the country, established in 1941.]

The opinions and impressions on a document the International Covenant

(صوت العراق) - 03-05-2007

(Voice of Iraq) - 03-05-2007

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The opinions and impressions on a document the International Covenant
The document aims to create a genuine partnership between Iraq and the international community
To support its efforts to restore peace, security and stability

Sharm el-Sheikh Bilal Voice Iraq - Sharif

The document represents the International Covenant opportunity seen by some ambitious project and other plant test of the intentions of all parties participating in the conference and the extent of seriousness to assist and support the march of development and political and security situation in Iraq.

The document aims to create a genuine partnership between Iraq and the international community to support efforts to restore peace, security and stability as well as to enter into the processes of building and construction and dealing with the challenges posed by the political transition and socio-economic undergone by the country.

The diplomats and journalists with whom we met here today in the Great Hall conference in Sharm el-Sheikh that this document and Tttass initiative on the Iraqi government pledged to implement a package of commitments over five years concentrated on these commitments areas of reform, development and reconstruction will be the basis for determining the amount of aid needs and form to be in the framework of reciprocal and parallel steps in accordance with will be implemented by each party of its obligations especially the Iraqi government ..

In this context, diplomatic circles believed that the capital "coward" and the donor countries and institutions will not dare to open their treasuries to Iraq only if they are assured made serious and concrete steps towards the restoration of peace, security and stability, not by promises or slogans, but according to the acts and procedures and policies ..

These are circles that the coming five years are a real test of the Iraqi government is essential so that the international community and donors to meet them, including them, which means that commitment will return for a commitment .. The process of the reconstruction and reconciliation and stability with step by step ..

Translated version of http://www.sotaliraq.com/