Thread: Iraq/Dinar News Until 5/3/07 Midnight CST.

Originally Posted by cashNsoon

The 913 daily currency auction was held in the Central Bank of Iraq day Sunday 2007/4/ 29 so the results were as follows :

Details NotesNumber of banks14-----Auction price selling dinar / US $1270-----Auction price buying dinar / US $1268-----Amount sold at auction price (US $)51.530.000-----Amount purchased at Auction price (US $) 1.000.000 Total offers for buying (US $)51.530.000-----Total offers for selling (US $)1.000.000-----
Well not today folks..........keep digging maybe tomorrow

Note :-dependent prices bulletin issued every day one on Monday also because of the weekend in New York

Originally Posted by Lunar

Political first : Zubaidi reveals plans for the operation of tens of thousands of unemployed
29.04.07

A dialogue-Yasser ascendant haven Secretary
Finance Minister told (morning)
Under the draft national reconciliation
......................
The three zeroes of the Iraqi dinar

In morning that the question of Iraq's debt write-off will contribute to the strengthening of the value of the Iraqi dinar?

The statement said Mr. Zubaidi. The value of the Iraqi dinar is related to the monetary policy and the political responsibility of the Iraqi Central Bank and the Ministry of Finance responsible for fiscal policy.

He added, but I proposed to Mr. Governor of the Central Bank, Dr. Sinan Shabibi need to raise the value of the Iraqi dinar and return to normal through the raising of three zeroes him!

Voadeni governor well in the expanded meeting would be held next month to study the proposal by experts in this area of the Iraqi Central Bank, Ministry of Finance and the Commercial Bank to the effect that the proponents get equal value of the Iraqi dinar to the American dollar and this goal we will strive to achieve that, God willing, during the four years of the new government the Iraqi dinar was so weak, towering among other currencies.

He concluded the interview Zubaidi reference to the International Monetary Fund supported the decision of the Iraqi dinar remarkable considering that the Central Bank of Iraq financially cover the $ 11 billion to support the value of the Iraqi dinar and the cover is rarely found in the third world.

Translated version of http://www.alsabaah.com/paper.php?source=akbar&mlf=interpage&sid=25731

It's a new article but... this part - is it a news rehash or do they actually mean it this time?

Originally Posted by webinvestor

It's a new article but... this part - is it a news rehash or do they actually mean it this time?

Not sure Webinvestor....it's not worded the same as the articles from 06.06. Could we be that lucky?

Iraq, US and Turkey meet in Sharm ash-Sheikh conference
29.04.07
Baghdad, as-Sabah, April 29, P2

The states and organizations invited to Sharm ash-Sheikh conference, scheduled to be held in next Thursday and Friday will be represented by high-rank representatives to reach to positive outcomes which will be reflected positively on situation in Iraq

While the Iraqi foreign Minister Hoshair Zabari had announced a proposal to hold triple meeting between Iraq, Turkey and USA to discuss a number of subjects, a US official confirmed that his country's delegation represented by US Secretary of State Condoleezza Rise and the US Ambassador to Iraq Rayan Kroker will rise in the conference question of Iran and Syria interference in Iraqi affair.

ÌÑíÏÉ ÇáÕÈÇÍ - Iraq, US and Turkey meet in Sharm ash-Sheikh conference

Originally Posted by Lunar

Political first : Zubaidi reveals plans for the operation of tens of thousands of unemployed
29.04.07

A dialogue-Yasser ascendant haven Secretary
Finance Minister told (morning)
Under the draft national reconciliation

The Minister of Finance revealed Mr. statement Jabr Al-Zubaydi revealed features of a direct government's economic program visas which would be reflected in the budget 2007. He said in an interview with the first press after Astizarh to the Ministry of Finance : the budget will be the first quality to it that will be under the elected government durable.

He explained that the new features of the plan include the expansion of the tax base does not increase and the re-evaluation of property and real estate state and the sale of many of the ministry also intends to support and assist the citizens to allocate plots to housing outside the boundaries of the municipalities according to the existing controls in coordination with the Ministry of Municipalities.

And on the question of how to expand the tax base and not up to the citizen, he said : We have a list of big businesses not covered by taxes seek coverage for example, mobile phone companies, which reap billions of dollars annually for a handful of dinars no value.

Taxes on businesses
He wondered why the minister did not impose taxes on those companies in Iraq at the time of revenue for Lebanon from taxes on mobile phone companies worth three billion dollars annually, as well as the case in Egypt, where they are valued at six billion dollars annually from taxes global mobile phone reiterated wondered why not follow Iraq the example of these States?
He added. We have a long list of the companies covered by the tax to obtain funds which support the budget came from oil sales only pointing out that 97% of the budget of Iraq depends on oil and this is not in any global economy, even in the oil-rich Gulf countries, the sources of funding for their budgets multinational manufacturing and other industries and taxes.

And on the question about the need for Iraq to laws and new legislation for the implementation of this program and plan.
Zubaidi said : I think that all of our laws give us the power window to move the implementation of the ambitious plan that have been developed for 2007.

But reform mechanisms required by the agreement with the International Monetary Fund have negative effects on the social level?
To this question, the Minister of Finance that the International Monetary Fund seeks as far as possible that the budget not be consuming our oil money, but that the money Iraq consumes the volume of investment in operating funds because the consumption of oil money exhausts the budget and the burden of the citizens by the minister but he believes that the volume of investment funds push Iraq towards development and progress From this standpoint, the policy of the International Monetary refuses to be broken, not only the budget have any investment.

True support for the social protection network
He said : I am in the social International Monetary Fund noted that the Fund is to support the social safety net that we believe it is important to continue supporting and accordingly put in the principles of the policy in 2007 to support and increase real support for the social welfare system on which citizens below the poverty line, pointing out that the close relationship with the International Monetary Fund has enabled us to obtain the debt write-off.

Citizen support
Zubaidi spoke about the reform of the banking sector stressing his thoughts prior check this sector of loitering and failure in banking operations, pointing to its banks principals urging them to the need to develop a modern banking clear sophisticated able to support citizen who is also suffering from poor efficiency of potential material.

He said that the future will activate and develop the performance and activity of the banks in the various sectors of commercial and industrial real estate and demanding a comprehensive study on the development of the Land Bank and the Rafidain Bank support in order to enable the citizens of the implementation of projects that need to advances because his salary is not limited fill needs.

In the question of the (morning) as long as I am you, Mr. Minister, acknowledged the limited salaries citizens What is the vision-Zubaidi on improving the situation of living of its staff?
The minister said that the talk about living standards, is emotional and said I can not magically now increasing staff salaries, which eat inflation and a budget burden, because any increase in large amounts to cause significant harm to the budget of 2007.

But I was prepared I will move ahead towards supporting the investment funds so as to contribute to creating hundreds of thousands of jobs to armies of the unemployed during 2007.

He said : We will implement the strong investment plans for the regions, which amounted to two billion dollars and Snzidha next year, I heard I am pleased that some of the governorates in which more than 30 projects, I think we must create new job opportunities and I am not with the creation of jobs through employment in the state, but rather through private sector companies. And become better wages in the private sector than the public sector.

* Understand the context of your that the trend was towards a free economy and this is the general framework of the economic program of the government?
- Yes, he is also
And at last, he said : I want to solve the problems of staff salaries and I know that there are some staff were subjected to injustice in the career ladder because of the different applications of the ministries of this peace. The articles outlined (morning) and I am with them and I will do my best to unify the peace salaries, but we need time to unite.

The theme of retirees
Asked about the retirement law and the concerns of retirees
Zubaidi said that the retirement of the Transitional National Assembly have already mentioned the Ministry of Finance transition and there are gaps in it. I believe that this issue is long overdue and we are awaiting termination His first day began when the Ministry of Finance met with the Directorate General for retirement and asked to expedite the completion of the study and the preparation instructions in this regard.

The minister pointed out that the International Monetary Fund raised some issues on the retirement Vbacherna re-examine this law in order to overcome some of the gaps that have occurred which caused injustice in some of the staff who provide great services to Iraq and Iraqis.
He warned that the continued application of this law would constitute a heavy burden on the state budget, explaining that the volume of money being spent annually in the light of this law more than two billion dollars annually, and this is what can not be borne by the budget if we add them three billion dollars for importing oil derivatives and four billion dollars the ration card so that amounts to more than 10 billion dollars, and these funds are a financial burden, as I said before, and therefore an urgent need to study these things. This is what our students and the International Monetary Fund agreed to re-examine the pension law to ensure the right of the retired and to guarantee the right of the State alike.

Iraq's foreign debt
Turning to the Minister of Iraq's foreign debts amounting to 125 billion dollars, pointing to the completion of the write-off 80% of Iraq's debt in respect of Paris Club debt after deciding the issue of Russia where we negotiate with them, debt relief and unsettled order a reduction in the amount of 13 billion dollars to 800 million dollars.

He explained that the remainder of the debt outside the Paris Club countries and Egypt, China, Turkey and Poland has been assigned Ambassador in Paris to negotiate. Debt and the Gulf between Mr. Minister that he had put the matter to the Minister of Finance, Mr. Ibrahim Al-Assaf during a visit to Saudi Arabia Zubaidi was agreed to send a committee at the level of experts to consider the issue of debt.

He expected Zubaidi that Gulf States will Akram sister of the Paris Club countries in extinguishing Iraq's debts in full.

Activation of insurance companies
He called Zubaidi the Iraqi press to reactivate its role in creating awareness of the insurance companies and the activation of the national insurance all their activities.

But the company withdrew from the market due to lack of potential coverage of major accidents in Iraq and the failure recorded in the performance?
The minister said : trying to activate the role of life insurance companies, money, cars, fire, accidents, Mr. Minister striking example of the fires Alcheorgh where traders believe that their money got paid compensation, which demonstrated the awareness of the importance of some traders insurance. Therefore, we will support insurance companies and do their role in support of the citizens and the national economy, and insurance cultural phenomenon.

Financial support the draft national reconciliation
Asked (morning) on the role of the Ministry of Finance of the State of Prime Minister al-Maliki initiative of national reconciliation?
Jabr said a statement Zubaidi, the Minister of Finance. I support the initiative launched by the State of the Prime Minister's half-Maliki my personal belief in the importance of Iraq and stop the bloodshed, we hope that Iraq's unity, its land and people and in my capacity as Minister of Finance will not spare no effort to support this initiative both in the area of compensation for those affected by the initiative, or any other initiative was a part.

The three zeroes of the Iraqi dinar

In morning that the question of Iraq's debt write-off will contribute to the strengthening of the value of the Iraqi dinar?

The statement said Mr. Zubaidi. The value of the Iraqi dinar is related to the monetary policy and the political responsibility of the Iraqi Central Bank and the Ministry of Finance responsible for fiscal policy.

He added, but I proposed to Mr. Governor of the Central Bank, Dr. Sinan Shabibi need to raise the value of the Iraqi dinar and return to normal through the raising of three zeroes him!

Voadeni governor well in the expanded meeting would be held next month to study the proposal by experts in this area of the Iraqi Central Bank, Ministry of Finance and the Commercial Bank to the effect that the proponents get equal value of the Iraqi dinar to the American dollar and this goal we will strive to achieve that, God willing, during the four years of the new government the Iraqi dinar was so weak, towering among other currencies.

He concluded the interview Zubaidi reference to the International Monetary Fund supported the decision of the Iraqi dinar remarkable considering that the Central Bank of Iraq financially cover the $ 11 billion to support the value of the Iraqi dinar and the cover is rarely found in the third world.

This morning took two hours from the time the minister went impression that the new plan will live up the Iraqi economy to the level of the developed countries if they are successful and support from the government and the parliament, despite the fact that the retirement gaps remained vague and needed to be clarified more and this we will take up in another meeting with Mr. Minister.

Translated version of http://www.alsabaah.com/paper.php?source=akbar&mlf=interpage&sid=25731

He concluded the interview Zubaidi reference to the International Monetary Fund supported the decision of the Iraqi dinar remarkable considering that the Central Bank of Iraq financially cover the $ 11 billion to support the value of the Iraqi dinar and the cover is rarely found in the third world.

I like the part above too. They can and will use this money to back the reval.
The timing of this article is intriguing to say the least. We have had very little since this initially came out last June and here it is but updated a little. Hhmmmmmmmm. Appears as if they're almost putting the idea out there as to their intentions in a round about way. Would certainly lessen the impact as to when it does actually reval.

Looking good guys and gals.

Iraq implement world trade in May. The Ministry of Commerce said that next month will witness the implementation of a special program to activate trade relations between Iraq and various countries around the world.
The source in the ministry said in a press statement
This program prepared by the government would include all countries of the world, especially the neighboring countries to develop economic and commercial relations with India as there will be a bilateral joint committees with those States as well as increased business contracts .. He added : "The coming days will witness the encounters between the Iraqi government delegations, and a number of countries of the world, especially the neighboring countries Research papers in the joint work between Iraq and those countries, stressing : "Iraq's desire to develop all economic and trade relations with world countries and the relations that were cut during the past years to gain experience various countries of the world in the development of the economy and support the private sector and take advantage of the investment law approved months ago. recalls Iraq is seeking to join the World Trade Organization after obtaining observer status in the organization in a step considered a prelude to reviving the Iraqi economy, Iraq reconstruction

http://translate.google.com/transla...l%3Den%26sa%3DN

Iraq : Oil Minister Dr. Hussein Shahrastani : the oil and gas completion of a national for all Iraqis
29.04.07
Baghdad-Adnan Sher

Description Oil Minister Dr. Hussein Shahrastani the oil and gas as a national achievement for all Iraqis of all stripes and their sincere contributed to the achievement of the law said the law will be positive and decisive impact on the consolidation of national unity and the social fabric of the components of the Iraqi people.

He stressed that the draft law written by a three Iraqi oil experts, commissioned by the Ministry of Oil was presented to the Committee on Energy, which had undergone some modifications, and added that the draft voted unanimously by the Council of Ministers are currently in (the state council) for review and put it in a legal framework, and the House will be the last stop the draft before the vote to proceed as law. the purpose of the legislation and a new law of oil and gas said. Shahrastani :

The law establishes a system of management of oil operations in Iraq and sets the foundation for cooperation between the relevant bodies of the federal government. He said the draft law is specific sector of the extractive oil, and three other laws relating to the oil sector will begin later. He concluded d. Shahrastani newly expanded to "Assabah" : certainly that the government of national unity is eager to protect national wealth and development of the form in which it serves the interests of Iraq, regardless of any other interest.

The need for a new law on oil
* Starting .. Who is the author saw or decided that Iraq needed a new law regulating the oil sector?
- The answer is simply that the constitution voted 80% of Iraqis approve it, we are building a new Iraq based on the constitution which defined the nature of the regime, and the state and federal powers of the federal government, regions and provinces, and it necessitated the enactment of the new oil, defines the powers and how to manage this vital sector Importantly, we believe that the law is one of the most important laws that should have been the initiative to expedite legislation.

Indeed it was, after formation of a government of national unity and the Nile confidence from the parliament in the May 20 week were taking the Oil Ministry formed a committee of the Iraqi oil experts to develop a draft of this law.

Books with Iraqi hands and Arabic
* Can you confirm that Iraqi experts wrote the draft and the Arabic language? To respond to some of the draft said that the English and Arabic version translated?
- As I said, assigned a committee of three Iraqis are d. Thamer الغضبان, Tariq Shafiq, Farouk denominator, and placed text in the Arabic language course. As for the rumors that there are deliberations and texts, this is because the oil sector from important sectors, and many experts and spe******ts have ideas, in the form of articles or drafts, but this does not mean that the draft presented by the Oil Ministry are based on ideas that others had met what exists in the draft with some ideas This is a good, although not meet this is their own business.

Either alleges he was invited to the conference and discussed the things oil, which is natural because the oil sectors experiencing meetings and weekly meetings and conferences in various parts of the world, people come together and think and exchange views and ideas, either allegation attended a symposium in a country in a particular time and discussed the issue of oil in Iraq, and the enactment of the new oil This is irresponsible talk, I emphasize that the draft presented by the Ministry of Oil is the draft presented by the three Iraqi experts who reminded them.
Parliament Station recent draft

* What the rest of the stations experienced by the draft law? When will the House of Representatives for debate and vote?
- After experts completed a draft law, submitted by the Oil Ministry to the Energy Commission, which introduced some amendments, and, frankly, not all amendments wish by the Ministry of Oil, because the draft reflects the ideas of the ministry, and this is something inevitable, if we want one for each instrument Iraq so convinced regions and governorates The uniform law committed by all, why describe this law that (national achievement for all Iraqis and all shadows and their sincere), but in the absence of such a law, may act every region acted qualitatively harm the interests of Iraq's supreme, and achieved the highest benefit of Iraq, and that might lead to destabilize the security situation and give negative indicators Joint Iraqi decision.

Therefore it was necessary, legislation one law for all regions and governorates, and it was natural to undergo changes and amendments to Atrie all parties, but this would not have been possible to access it, as an acceptable draft before then to the Cabinet, which voted unanimously, the draft currently in the (State Consultative Council), which will reviewing the finalization of a law, and will return again from the State Consultative Council to the Council of Ministers which Sebatha to the House for consideration and then final legislation into law.

Draft and about one month ago (in the State Consultative Council), we expect that Tubeless Shura Council for more than a month to review the draft and put it in the proper legal frameworks, but more than that over time, I urge the gentlemen in the State Consultative Council during the meeting to accelerate the completion of the draft. There was a consensus among Iraqi political blocs participating in the government to work together with some of the legislation through parliament the law before the end of May next.
Draft : political settlement

* Symposium in Dubai to discuss a draft law, and raised more than once the words (the draft had a deal and a political settlement between the various parties in the political process)? How was this settlement? Will take three experts who wrote the draft opinion leaders of the political blocs example?
- Discussed a draft law in the Energy Commission, which consists of representatives of various ministries such as oil, finance, planning, electricity, Governor of the Central Bank, Minister of Natural Resources in Kurdistan, director general of the South Oil Company, and because this government is the government of national unity, Ministers Smitham who come from different blocs affiliated with the national government, has Taking a different view of the masses through the Minister of Energy Commission.

The most prominent features of the law
* What is the purpose of the enactment of the oil and gas? Is it possible to identify the salient features briefly?
- End of the law as defined by Article 3, it establishes a system of management of oil operations in Iraq and sets the foundation for cooperation between the concerned bodies in the federal government, in addition to the establishment of a coordination and consultation between the federal authorities and regional authorities and the oil-producing provinces.

The law consists of 43 articles and 4 supplements, which confirms that the Council of Ministers is the authority's jurisdiction to approve federal policy oil, which oversees the application of this policy, as well as oversee the overall operations of oil including the adoption of the federal policy governing all matters governed by this Act, including exploration The production, transportation and marketing.

The law establishes a federal oil and gas composed of the ministers of oil, finance and planning and development cooperation in the federal government, the governor of the Central Bank of Iraq and a representative from each territory rank of minister, and a representative from each province produced more productive 100 thousand barrels per day and irregularly in the province, in addition to the executive heads of the most important institutions of oil relevant experts, spe******ts in oil and gas, finance and economy and no more than three.

Will the Federal Council of oil and gas for the formulation of policies and plans of federal oil exploration and development fields, and to review and decide on exploration contracts granted licenses for operations in the oil sector, adoption and amendment models exploration and production contracts.
The Board will be federal oil and gas in the audit and to decide on the contracts for exploration and production, plans to develop the oil and gas fields called Office (Office of independent advisers).

There are duties and essential functions of the Ministry of Oil and the National Oil Company and the regional body mentioned law and perhaps is no area here to figure out.

The timing of the legislation law
Q : How do you respond to those who say that the oil and gas law is important and necessary and vital, but the general climate, and security and political environment inappropriate now to legislate such a law, in addition to the potential for significant changes in the Constitution, why not delay the legislation law to be constitutional amendments?

- Can answer those who say that the security situation is not appropriate for legislation law and one of the most important mechanisms for combating terrorism and stabilizing the security situation is to start reconstruction operations in Iraq to create work opportunities for citizens who unemployment may lead them to engage in acts of violence or acts irresponsibly and therefore speeding up Construction is to respond to terrorist operations and to seek to destabilize the security situation, why can not agree with the view that to neglect the reconstruction of the country until the security situation improves, but not fighting terrorists not only our forces and armed security plans, but large-scale reconstruction campaign united this terrorism, and the oil sector in Iraq is the engine of the Iraqi economy and must work to activate this sector, which needs to be a new law, to grow and flourish for the benefit of the homeland and citizens, either oppose constitutional amendments that there is better to wait for these amendments before the enactment of the law, they could reply that the Constitution is not a sacred text can be changed after two years once another, and perhaps after five years again, and we must not disrupt the potential to change the constitution all laws, pending amendments unexpected, emphasis think that the law proceed in the light of the existing Constitution, and if it was amended requires amending laws related to the constitutional amendment amend these laws and thus the world can not be disrupted laws waiting for constitutional amendments.

The crude oil
* Draft bill oil and gas specialize crude oil, exploration and extraction and that there was a package of laws will later on the oil sector?
Law-oil and gas for the extractive sector, which begins explorations fields and then develop the production process and the delivery of crude oil to the point of delivery, sale and then ends this law this sector called extractive sector, the law means and respect in this sector, and introduce laws of the other three acquired with this law must be studied together together in the Council of Ministers, the Ministry of Oil, "the restructuring of the Ministry of Oil," and the national oil companies "re-work this company, which delayed the time of the former regime," the financial resources "how to distribute financial revenues that come from oil wealth."

These laws are interrelated, for example, the oil and gas giant oil fields allocated in all regions of Iraq National Oil Company, which solved the former regime, and, paradoxically, that the leader of the campaign against the oil and calls for the allocation of all Iraqi fields for the National Oil Company ", a former oil minister Issam Al-Chalabi," is a national oil company, and we want this law re-established again. It therefore behooves legislation is a new law on the national oil company, as well as with the Ministry of Oil and the need for a special law Bahichaelitha legislation which will differ from the previous structure, under the law of oil and gas, as well as resources from oil and how distributed among regions and provinces and the various economic sectors, and must reaffirm and consolidate these resources for all Iraqis and distributed them through the federal budget approved by the Iraqi Parliament, commensurate with the population density of the regions and governorates.

There is no disagreement with the government in Kurdistan
* Symposium in Dubai to discuss a draft law of oil and gas, the oil minister's statements Kurdistan Ahti Horani to the existence of some kind of controversy, or a particular interpretation of the government of the Kurdistan region of the draft law, what is the essence of this disagreement? How will be exceeded?

Oil-Minister of the Kurdistan Ahti Hourani, a member of the Energy Commission, which approved the draft and, as I previously stated that the draft presented to the Cabinet, which was voted unanimously by the Cabinet, including brothers of Kurdistan, has everyone agreed on the draft. I think that Mr. Ahti was not successful in expressing himself in Dubai, as put forward by the Dubai symposium was contrary to the position of the brothers together in the Committee on Energy and the Council of Ministers, when asked, Mr. Ahti specific question : Is Trajatm for the approval of this draft?

Do you have any view other than what stated in the draft? he replied : No, we are committed to this draft, and therefore, there can be no disagreement with the brothers in Kurdistan to the draft, but there are statements and media leaks to negotiate or sign contracts with the oil companies, and this disagreement Iraqi laws in force, which is the current permit, as well as otherwise of this law (oil and gas), which agreed with them its legislation, and there is agreement to freeze operations pending legislation finish Alanon, because negotiating contracts and the selection of models and the selection of companies eligible to negotiate controls to be determined by the Federal Council of oil and gas after the legislation which would establish the law, it signed a contract or otherwise negotiate such a mechanism is illegal and non-binding for Iraq.

Territories and oil contracts
* Chart oil policy will be geared exclusively to the federal government in Baghdad, would the provinces signing oil contracts directly and then submitted to the Federal Council of oil and gas?

Yes-oil policy by the federal government exclusively as text of the law, but the law gives the power of the regional body to negotiate under the instructions and controls established by the Federal Council of oil and gas companies with qualified rehabilitation within the standard established by the Federal Council of oil and gas using models of contracts approved by the Federal Council and sign initials the convention or holding, and then submitted to the Federal Council if it is found that the agreement or contract within controls and modeling contracts and achieved the highest benefit to Iraq under the full national control and operation of the Iraqi employment, the Board will accept the convention or, in case of breach of these regulations, the Council will reject the Convention or contract, and requests the regional body to review and correct the Convention or the contract.

Oil contracts.
* Another criticism to the draft law on the issue of contracts, and said that the draft did not clearly define oil contracts, Is service contracts and production and development contracts or participate in the production? Did you deliberately not commit yourself to any versions of the contracts? Why?

- The law does not specify the type of contract, but left it to the Federal Council of oil and gas, which is the body that decides what kind of contract suitable for any kind of fields, because there is a big discrepancy in the size of the fields and on the degree of complexity of the field, and the degree of investment required, and there discovered giant fields have been developed partly or wholly Production is currently or some old productive than 20 years, this may require a specific type of contract, and perhaps inadequate service contracts, meaning demand from foreign companies to carry out certain wage particular, Kay held another service.

There might be other fields require another example of the contracts. Therefore, the Energy Commission did not see the benefit of Iraq to abide by the model of one of the contracts, and open area to negotiate with the companies to get the highest benefit of Iraq, and therefore cause the type of contracts depends on the federal council of oil and gas.

Personally, I respect the views of the Muslim Brotherhood, who were protesting against contracts for the production, has stated more than once when Patti reservations contracts for the giant Iraqi oilfields, but the claim that this draft is based on contracts for the production, and reap the misunderstanding and says the law is not in it, which is unacceptable, It raises these things behind certain political agenda, and it ought to read the draft well, rather than their readers erroneous and tendentious.

Law and the decisions of the Security Council
* Do legislation would end the law of Iraq's compliance with the Security Council on the international supervision of its exports and its imports of oil in a special fund?
- At the present time, under the Security Council resolutions dealing with the Iraqi file, placed Iraqi oil revenues in a special account (DFI) Development Fund for Iraq, and there is a regulatory body of the United Nations oversees the fund, and will continue this case until it is a new agreement between Iraq and the United Nations not to work with this mechanism, envisaging Iraqi government to put Iraq in the calculation of income behalf of the Iraqi government in the Iraqi Central Bank, the oil and gas based on this vision, which provides for the establishment of the federal one in the Iraqi Central Bank on behalf of the federal government Iraqi deposited all revenue.
Why you go to the International Monetary Fund?

* What is the relationship between increases in the prices of oil derivatives, the International Monetary Fund, and why resorted to the Iraqi government?
- The problem of Iraq after the fall of the former regime was the enormous debt that Ersk underneath and almost no country in the world except Saddam Astkarz to senseless wars to build his palaces and drainage for clients and Abwach in various regions, these large debt saddled Iraq's economy restrictions paralyzed, have entered Iraq after the fall of the regime. in negotiations with creditor nations and the rejection of the principle of payment, because this debt was given to a non-elected by the people is not represented, and used these funds for the destruction of the country and killed Iraqis and assaulting neighbors has been used for the importation of some equipment or as drafts.

Paris Club countries, which represents major industrial countries, Iraq's largest creditor, agreed to cancel 80% of this debt for economic reforms by Iraq, because the Iraqi economy was suffering from considerable defects, the system manages a so******t state in which all the facilities of life, and the prices unrealistic, and there is a waste of national wealth or another, and it felt that Iraq abide by the economic reforms which are in the benefit of Iraq in the long term, it may be some painful progress and disturbing, but the outcome is in the interest of the Iraqi economy, Iraq itself has not needed any actions detrimental to its interests and therefore branded reforms.

Among the commitments made by Iraq "Convention signed in 2005, before the formation of the current government" is to modify the prices of oil derivatives, because the prices of these derivatives unacceptable example, the price of 20 dinars per liter of gasoline is the price of water five This is unreasonable, the amendment and the largest jump in prices was 20 to 200 dinars tenfold occurred at the end of 2005, beginning of 2006, there were other obligations in return for those reforms was lifted 60% of the debt, the total debt was 140 billion dollars, equivalent to five thousand dollars per capita indebtedness Iraqi big or small, until 20% of the debt, the International Monetary Fund that the price of oil derivatives in line in Iraq with the world market price, so that the state does not bear any support for these products, the oil ministry has rejected the Iraqi state this principle, and told them to be accepted, when the Iraqi economy developed, and income from income approaching Iraqi Union or Gulf States so can pay the real price and one that we told them that this matter is not currently available, the employee's pay or Iraqi Earner much lower standard of living and less, and do it reinforces the citizen to pay such high prices for oil products.

It was a new settlement and agreed to raise the price per liter of gasoline for 50 dinars in March, and again in July, compared with 20% cancellation of the remaining debt, which represents $ 28 billion if Kasmenaha the population mean thousand dollars for each citizen, as an administrator when put before two cancellation of the debt of every citizen of A. net or increase the price of gasoline for 50 dinars per liter, you will choose the cancellation of the debt of thousand dollars each citizen, even though the average citizen may think that it does not care and that he was not interested to pay debt thousand dollars because the state would pay, but to ask where will the state, from water and sewer projects, from education, from electricity, defense, and instead state that the conduct of these funds to improve the infrastructure or building hospitals or any citizen service needed Stsdha debt.


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Iran attending a meeting on Iraq in Egypt
(Voice of Iraq) - 29-04-2007

A press-office of the Prime Minister

The Islamic Republic of Iran would attend the Sharm el-Sheikh Conferences in support of Iraq at the level of foreign minister, came during a telephone conversation between the Prime Minister, Mr. Nouri Kamel al-Maliki and President of the Islamic Republic of Iran, Mr. Ahmadinejad today.
It was through contact to exchange views on bilateral relations and the need to develop to serve the interests of both countries.

Translated version of http://sotaliraq.com/

Economic Assabah : economic research disintegration causes inflation and proposes practical solutions
29.04.07
In a symposium the Faculty of Administration and Economy at Baghdad University
BAGHDAD - Hassan Al-Rubaie

Advanced specialized scientific symposium held by the Faculty of Management and Economics-University of Baghdad ten scientific research to discuss the phenomenon of inflation in the Iraqi economy and concluded that the lack of clear Strategeyat most productive sectors of the great imbalances in the structure of the Iraqi economy and the absence of coordination between fiscal policy and monetary policy and extravagance in the issuance of paper currency and circumstances difficult and crises experienced by the country is the most important reasons for the widening phenomenon of inflation and the near future is a breakthrough clear and effective steps prevented finding cures do radical comprehensive role of monetary policy and fiscal policy governing the operation and restore the productive sectors in parallel and balanced.

The specialized research and thrown in the symposium, which was led by Prof. Dr. Qasim soft Head of the Economics Department at the College and was attended by a representative of the University of Baghdad and a number of professors and students, the phenomenon of inflation and its causes, roots, therapies and ways of activating and intensifying the Iraqi economy and the steps needed to address failures in the various economic sectors.

Iraqis stand over natural resources and treasures buried
Dr. Qassem said in his research on the need to develop the financial and banking system and anticipate the same time to introduce methods and formulas reproduced from advanced nations have result in rapid financial collapse has been developing the Iraqi economy and unstable.

He called for the integration and coordination of fiscal and monetary policies to ensure access to solutions harmonious both inflation and unemployment and access to the best levels Altwaznet focused Dr. Qassem Abstract discussed the need for investment of human beings and not to request loans and attachment to the international financial institutions that want to know why!.
Because the Iraqis stand over natural resources and treasures are buried in the absence of haggling and unable to reach there and abroad who wants to have a share in these resources pretext that the Iraqis do not have the expertise, money and presumably also says Dr. Head of the Economics Department faculty's people to educate and we know how to protect its national resources, and how to exploit and how aware of what was going on around him and then revert vital to our lives and our economy activity, and melts recession and inflation demolished.

Also to the extent that inflation exists in the causes and consequences and because it directly affects the functioning of life and economic activity and a lot of variables and levels of living must be continuous search and to make every effort to find the key to get out of the vicious circle of underdevelopment and the Economic and Social Council.

Inflation disruption of productive capacities and means high unemployment and low growth rates and declining incomes and declining living standards and wasting savings with investors and the division of society into classes of the rich affluent and the poor destitute and the disruption of production forces a whole must search for exits and breaking the recession and moving production forces and increase supply capacities.

To secure the basic needs of the consumer are priorities
Dr. Salem Mohamed Aboud expert at the Center for market research and consumer protection, said in a discussion on the need to ensure consumer rights and protection from the effects of economic policy and ensure the basic needs (food, clothing, housing, health, education and services necessary), and passing laws on the right of safety for the consumer and providing opportunities and information, which allows them the opportunity to take appropriate option The choice for price and the right to compensation that is truly civilized when it is exposed to damage by the use of goods, services and care for the environment and preserve the integrity of pollution and the introduction of the conditions of preservation when designing any economic policy.

He cautioned Dr. Abboud discussed in great deal of economic policy in 2003 and its impact on the system of consumer rights in Iraq to the lack of standards and regulations to control and lack of attention to services every consumer is subjected to pressure from various came in light of the nightmare of inflation, which was a reflection of economic policy.

The country with the phenomenon of inflation Alerkoudi
Dr. Thoraya Abd Al-Rahim Al-Khazraji science professor cash Faculty of Administration and Economics.
The resurgence of inflation tied procedures implemented by the monetary authorities since the 1980s of the 20th century, and so far, which caused many economic problems.

She said : that monetary austerity policies implemented by the monetary authorities in the mid-1990s may have overshadowed the negative that led to the emergence of a new phenomenon, namely, (Alerkoudi inflation).
She explained in the discussion, which dealt with the performance of progressive politics in Iraq and its impact on inflation to the success of monetary policy requires action according to an economic, social and political suited.

We must seek monetary policy to achieve stability and relative balance on the domestic level (public budget) and external (balance of payments) and the stability of financial policy, particularly sections government spending under the current circumstances.

Dr. Abd Al-Rahim described the tax system in the country as poor and not up to the level of ambition and there is a clear failure in the performance of the banking system with a policy of monetary issuance, as the only means to finance the budget deficit has been compounded by inflation.

The expansion of the money supply basis worsening phenomenon of inflation
Dr. Ibrahim Musa Roses teaching in the Faculty of Administration and Economics Department of Economics came discussed under the heading (inflation Iraq's economic causes and effects of the treatments).

It explained that the expansion in the money supply is a source of the phenomenon of inflation, the economic stability should be made across the reflecting and building the Iraqi monetary unit value (the dinar) at the foreign currency exchange rate and strengthen and reducing inflation only with control over monetary phenomenon and the stability of monetary growth to achieve economic stability is the responsibility of monetary policy, which should make the exchange rate system more flexible than its current, and Dr. Roses in search salient features Chairperson of inflation inflationary pressures resulting from the high cost of production or cost of commodity supply, which matured because of the high cost of production elements and special requirements involved in the production process and imported.

The surplus money supply, which is of the utmost importance in interpreting the phenomenon of inflation.
The current inflationary phenomenon came increasingly under the influence in overcoming the situation in the real sector of macroeconomic starting from 1980 till now and the inability of the sector to respond to all the components of aggregate demand pressures, including indicators reached high levels of current expenditure in the public budget.

Controlling inflation
He suggested looking set of conditions to control inflation control of the money supply and control over wages and the reduction of exchange rates with high values, and finds opinion in this area that a stable and sustainable growth could be achieved only in an environment stabilization money.

The research found that inflation, although it economic phenomenon, there is now a greater awareness (that phenomenon) shall not be subject to economic analysis, but must be done through the study and analysis of the political and social structures of society and that the roots of inflation lies in the social structure and political structure in general and political and social conflict and conflict management it will be difficult to find economic will not agree that the social and political forces play a crucial role in creating or increases in inflation rates.

A clear decline in the level of economic activity
Assistant professor Dr. Hana Abdul teaching in the Department of Economics faculty in the search marked (challenges inflationary situation and its relationship to lift the value of the Iraqi dinar).

That inflation suffered by the Iraqi economy is not a monetary phenomenon, but another type of inflation reveal a number of factors, both internal and external causes, including lack of a clear economic policy in the era of the former regime in addition to the country's many crises, wars and the prevalence of bad values and behaviors, financial and administrative corruption and to adopt the policy opening to the outside world and freedom of the foreign exchange dealings and a clear decline in the level of economic activity and erosion in the level of real GDP.

It invited in the search to the need to adopt the Central Bank interest rates help to diversify financial market debt instruments and enables terms graduated at the same time increasing levels of savings and control the levels of cash.

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Russian companies invited to invest in Iraq's oil


Russian companies invited to invest in Iraq's oil
called Oil Minister Hussein Shahrastani Russian companies to invest in Iraq
ضوء اقرار قانون النفط والغاز المعروض حاليا على مجلس النواب والذي يتيح
Adoption of light oil and gas law is currently before the House of Representatives, which allows
للشركات الاجنبيه الاستثمار في مجالى النفط والغاز العراقي.
Foreign companies investing in oil and gas fields of Iraq.
وقال مصدر في الوزارة ان دعوة الشهرستاني للشركات الروسية للاستثمار في العراق جاءت خلال استقباله السفير الروسي في العراق فلاديمير جاموف، اذ بحث الطرفان سبل تعزيز العلاقات بين البلدين الصديقين في شتى المجالات ولاسيما في المجال النفط والغاز.
A source in the ministry said that Shahrastani invitation of Russian companies to invest in Iraq came during his reception of the Russian ambassador in Iraq Vladimir Jamov, since the parties discussed ways to strengthen relations between the two friendly countries in various fields, particularly in the area of oil and gas.
وفيما يخص العقد الذي تم ابرامه مع شركة (لوك اويل) لتطوير حقل غرب
With regard to the contract, which was concluded with the company (Lukoil) to develop the west
القرنة في زمن النظام السابق، قال الشهرستاني، وفقا للمصدر ان وثائق وسجلات الوزارة تشير الى قرار النظام البائد بالغاء العقد المذكور، مشيراً الى انه التقى
Qurnah in time of the former regime, said Shahrastani, according to the source documents and records of the ministry indicating the ousted regime's decision to cancel the contract, pointing out that he met
قبل اشهر في العاصمة النمساوية فيينا وعلى هامش انعقاد مؤتمر الاوبك
A few months ago in the Austrian capital Vienna on the sidelines of the OPEC Conference
بممثلين عن الشركة المذكورة واوضح لهم بان جميع العقود السابقة ستخضع الى
Representatives of the company explained to them that all previous contracts will be subject to
المراجعة والتدقيق وبما ينسجم مع المواد والفقرات الواردة في قانون النفط
The audit and scrutiny in line with the articles and paragraphs contained in the oil
الجديد الذي سينظم شروط واليات التعاقد واعلان المناقصات والتي ستكون مفتوحة
New conditions and mechanisms will be contracted and the announcement of tenders and which will be open
ومعلنة بكل شفافية.
And declared all transparency.
وأوضح الشهرستاني انه سيتم اختيار العرض الافضل الذي يوفر اعلى مردود اقتصادي للعراق بغض النظر عن جنسية الشركات الحائزة على العقود.
The Shahrastani, will be selection of the best offer, which provides the highest financial return to Iraq regardless of the nationality of the companies, winner of the contracts.
ونقل المصدر عن وزير النفط قوله العراق لن يلتزم باي عقد يتم ابرامه خارج
Transfer source of oil minister said Iraq would not commit to any contract concluded outside
اطار القوانين النافذة التي تحصر التفاوض والتعاقد في مجال النفط والغاز
Under existing laws, which limit the negotiation and contracting in the area of oil and gas
بوزارة النفط لحين تشريع قانون النفط والغاز الجديد، مشيرا الى ان على
Oil ministry until the enactment of the new oil and gas, pointing out that the
الشركات الاجنبية عدم ابرام العقود الا من خلال الحكومة الاتحادية ووزارة
Foreign companies not to conclude contracts only through the federal government and the Ministry of
النفط محذراً الشركات من مخالفة القوانين العراقية ما يحملها مسؤولية
Oil companies warned of violating Iraqi laws prompted responsibility
تصرفاتها، واوضح الشهرستاني ان اي عقد يبرم في العراق خارج الحكومة الاتحادية يعد عقدا "غير قانوني".
Her actions, and Shahrastani said that a contract in Iraq outside the federal government contract is "illegal".
ومن جانبه، أعرب السفير، عن رغبة الشركات الروسية استئناف تعاونها ونشاطها مع وزارة النفط كما ترغب ايضا في احراز تقدم في مجال النفط والغاز والكهرباء وحرصها الشديد على تعزيز التعاون مع العراق في هذه المجالات الثلاثة.
For his part, Ambassador, the desire of Russian companies resuming their activities and their cooperation with the Ministry of Oil and also wish to make progress in the field of oil, gas and electricity and its earnest desire to promote cooperation with Iraq in these three areas.

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