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

Economic : the International Covenant with Iraq for the benefit of?
03.05.07
D. Kamal Basri *

First : Introduction : What is the current problem?
International Covenant document that specifies a new Iraqi state at the political, economic, social, humanitarian and implementation mechanism, and includes curriculum to address the various challenges currently facing Iraq. The government envisages entry through the document with interested States in the Iraqi issue in the era or partnership

Iraq pledges commitment on the platform declared, on the other hand States signatories to assist Iraq in the face of those challenges and achieve the stated objectives over five years. In this article I will stand on the present Covenant, and whether Iraq is in need him?

What are the motives of the international community to conduct this Covenant? Partnership generally achieved when determined and documented participants between two or more parties, as sought by the Iraqi government over a year. There are many countries interested in the Iraqi levels and different degrees. Perhaps most important of these states are neighboring countries and the Arab and Islamic countries and industrialized nations and interested States to global security.

Thanks CST countries of the world have become close to some increased competition among nations in the economic field and become specialized in the production of States to receive the highest returns and returns, increasing bilateral trade, financial and cultural ties between the nations. Therefore, the political unrest in any part of the world will easily sour bilateral trade, economic and obtain benefits and everyone loses (near and distant).

This explains the entry of the United States after the Second World War in the covenant or agreement with Germany and Japan, where the United States has a lot of technical and material assistance that the two countries.
Iraq suffers socially, economically and politically from the number of challenges that will require national, regional and international cooperation remains small adults and international institutions. Perhaps the best example of the debt problem on the need for Iraq to the international community, the debt obstacle to the return of Iraq to exercise economic relations and trade with the international community.

But thanks to the cooperation of States interested in the Iraqi issue has been dealt to overcome the problem and put 80% of the debt. At the present time the government found itself facing significant limitations due to the collapse of the infrastructure and disruption of productive enterprises. Because of this problem and the cooperation of the international community convening of the Madrid conference of donor countries in October 2003 and the many nations pledging financial support. This does not stop at economic difficulties and the like, but that Iraq require support in building social institutions and political support.

On the other hand, countries of the world interested in the Iraq politically and economically interested in the knowledge and understanding of the nature and method of work and the state. Democratic nations constitutionally obliged not to deal with states that are inconsistent with a curriculum which it believes those countries (especially if they had to deal includes support economically or technically).

This seems obvious need for Iraq to the international community, and the need for the international community to clearly state the Iraqi curriculum. Based on the progress documented systematize Iraq in political reform, economic and social development, "International Covenant document."
Second : highlighted the challenges facing the government :

The value of investments required limits of $ 187.7 billion for the period 2007-2010. Undoubtedly, the value of investments can not be secured from the Internal Revenue Service, which requires searching for new sources of funding from abroad to fill the investment gap, there is no doubt that Iraq can provide this amount, or an important part of it through grants and soft loans, foreign direct investment and private investment nationally. Below are some of the most prominent images requirements facing Iraq :

Agricultural needs : The rapid increase in population over the past three decades and limited arable land, increasing salinity and weaknesses in agricultural productivity to increased reliance on imports to meet local demand. Salinity is a problem where the biggest challenge that nearly 75% of irrigated croplands suffer from salinity resulting from mismanagement of sachets. Accordingly, Iraq, in dire need to modern irrigation projects and to expand the use of crop varieties for resistance to salinity.

To determine the extent of agricultural backwardness in Iraq find when comparing agricultural productivity (in the use of fertilizers and Automation) with a group of countries like Iran, Jordan, Egypt, Syria, Iraq's failure to find all these countries. For the purpose of promoting agriculture and achieve the goals set for him during the years 2007-2010, it needs to provide large investments estimated according to the basic needs of the sector Limits 9300 billion dollars in 4100 to $ 1 billion for agricultural projects in 5200 and $ 1 billion for projects that the Ministry of Water Resources.

Weak industrial sector :
The Iraqi government owns an estimated 192 State-owned enterprises with a total (500000) troops. And all these projects suffer from technological backwardness, prescription, and after the events of April 2003 many of the projects suffered from looting and destruction.

The collapse of the infrastructure
(Electricity, communications, transport)
The electricity sector is suffering since the beginning of the 1990s from a severe shortage of electricity production and the decline in the performance of the transmission and distribution systems. The desired goal is to add new capabilities OBSTETRICAL Limits 11441 MW with the rehabilitation and expansion and improvement of transport and distribution networks.

The investments required for the years 2007-2010 about 16.5 billion dollars. The estimated investment required to restore the electricity sector and improve Limits 23.3 billion dollars up to 2015 in order to reach capacity by some, including no less than 21000 MW capacity, in a year. In the area of transport and communications There underdevelopment requires strengthening the transport and communications network in all provinces.

To achieve this, the sector needs substantial investment and a change in management and organizational structure in order to raise the efficiency and level of performance and the Wolf estimated investment for the transport sector and communications about 37 billion dollars.

The magnitude of external debt :
The debts are the limits of the Gulf States (40) billion dollars. In this regard, the Iraqi government has concluded agreements with the Paris Club and the International Monetary Fund for the purpose of settling those debts. Iraq is expected to complete the pledge with the International Monetary Fund to undertake economic reforms included write 80% of the debt.

Poverty and low standard of living :
Estimates by the Central Agency for Statistics and survey results also demonstrated the family budget for the year / 2003. That proportion of families that suffer from extreme poverty reached 11%, which suffer from absolute poverty, 43%, and this means that more than half of the population suffers from a lack of basic needs such as food, health care, education, adequate housing and other services. The following table illustrates sectoral needs.

The investment needs of economic sectors for the years 2007-2010
The investment requirements set forth in Table large and beyond the capabilities of the Iraqi economy (at this stage) requires recourse to find external sources of financing in the form of soft loans or grants and foreign direct investment as the saving capacity of the Iraqi economy and low.

It is expected that domestic investment contributes about 78.5 billion dollars and the remainder , which hit 109.2 billion dollars supposed to be provided from external sources of funding, which represents about 58.2% of the total investments required to be provided. to provide this amount requires continued cooperation with the international community to find a formula of cooperation and appropriate mechanism to ensure that capital flows to economy.

Sources of funding-adjusted estimates
2007-2010
Third : the most important features details of the International Covenant :
The following are the main features of President era, which includes the following paragraphs :

1. The political and security framework : in the political side : working to make unified democratic federal Iraq, seeks to achieve peace internally and externally, seeking integration with the regional and global environment, and adheres to the Iraq program, including the government of National Unity, in particular the application of a plan of national reconciliation through : a political speech guarantees the rights of others, including minorities and the rejection of political violence in all its forms, protect human rights and punish violators, address the issue of militias, building the institutions of the State-effective, transparent and responsible and non-partisan, anti-corruption management, confidence-building measures rescinding year, the question of abolishing the Baath Party and the release of prisoners, review the constitution, and the election law, a just solution to the issue of Kirkuk on the basis of this agreement reflects the positions of all sides and in accordance with the Constitution, the rule of law and the criminal justice system, to continue progress on legal reforms.

As to the security side : Seezzzalitute Iraq's commitment to achieving security and stability through : building the Iraqi security forces, working with the neighboring countries and international partners for the maintenance of Iraq's sovereignty and the protection of its borders.

2. Strategic national development : working to achieve reform the Iraqi economy in cooperation with the international community by focusing on the promotion of human development, and address poverty, investment priorities focus on the sectors of energy (oil, gas and electricity), infrastructure and agriculture, adopt a policy that would address the financial costs and financing of all investment projects in the federal budget, empowering the private sector by raising legal obstacles, the reform of the social sector (services), giving the following priority sectors : oil, electricity, infrastructure and agricultural projects strategic outlook, the rationalization of government support comprehensive development of the information system to monitor the proper functioning of the economic situation.

3. The integration of the national economy : development of a gradual transition from central planning to decentralization system in the development of prefectures and counties within the framework of strategic national development and this strengthened through capacity building of planning, implementation and follow-up at regional and local levels, to develop the ministries to specialize in the development of policies and supervision and analysis of information.

4. International and regional integration : Through First : respect for the obligations with neighboring countries and resolve outstanding problems such as those and integration within the framework of regional groupings and organizations, chambers of commerce and economic institutions.
Secondly : through activating the participation in international organizations (the United Nations, World Bank, World Trade Organization, any other international conventions and global civil society organizations concerned with human rights.

5. Public resource management : work for public benefit all segments of Iraqi society from the oil resources and use this wealth to strengthen the national unity and achieve comprehensive development through the creation of a single account to collect oil revenues all the support of the Office of Financial Supervision and the establishment of a general framework for the sharing of proceeds. With regard to public expenditure management policy can be summarized development program the public expenditure review (PER) and the application management system and financial information effectively (FMIS) and direct a medium-term budget and laying the foundations for the transition to fiscal federalism.

6. Good governance and the fight against corruption : the objective of this framework is to create a legal framework and institutional capacity-building to combat corruption at various levels of government through a series of criteria most important to develop special programs to combat corruption, and to support and activate the public income and disclosure of assets, and the enactment for the purpose of granting powers to seize and seizure of assets.

7. Economic reforms : The reform of government support-oriented support totalitarianism : by moving from direct support to targeted aid, and the continued reduction of prices of oil derivatives support concurrently with the development of a social protection network, and rationalizing the ration card and begin the transition towards a wave of support. the reform of the banking sector through restructuring Iraqi banks and improving the business climate banking and opt for the creation of mechanisms to support small and medium enterprises.

8. Private sector development : through the application of new investment law, and to formulate a plan for the reform of major government banks, and develop strategic restructuring of institutions belonging to the state and privatized the sound economic fundamentals, and finding solutions to engage the private sector to stimulate housing construction.

9. A network of social protection : to take care of the poor classes through the development of strategic integrated social policy reform, and maintain the real value of social security budget and protection from the effects of inflation, not only the relief material and programs of rehabilitation and skills development.

10. Human development : human development one of the most important objectives of the International Covenant will be a fundamental criterion for assessing the success of the whole process ... Through the design of strategic national development format, which supports the growth targets and achieve the Millennium Development Goals of fighting poverty and the provision of drinking water, sanitation and the provision of affordable housing and investment in human capital, including the provision of schools, universities and the development of literacy programs and the development of efficient institutions on human development and give the utmost importance. The international community in this area support through programs aimed to boost the ability of the government to fulfill these commitments.

11. Energy sector reform : oil and gas development of the oil sector in order to contribute to the strengthening of national unity, economic prosperity and meet the needs of Iraq's energy through the legal framework of the law of oil and gas in order to achieve the objective which is to reach the President to increase the volume of oil production to 3.5 million barrels a day by 2010. The matter requires electricity reform of this sector through the establishment of development plan based on the Minimum Costs and strategic funding the participation of the public and private sectors and a pricing policy balance between economic efficiency and consumer protection, all in the medium-term view is to provide electric power and self reserve 10% by 2015.

12. Reform of the agricultural sector : the aim of achieving food security and increasing employment opportunities in this sector, creating economic diversity by building skills and financial and administrative management of allocations to farmers and review agricultural policies and improving investment conditions in this sector. This requires investment in enterprise strategic outlook and providing loans to farmers and support the prices of agricultural products.

International support : When Iraq's fulfilling its obligations to the Covenant, highlights the need for more aid and the international community at various levels and the most important needs of Iraq specifically are : financial aid, investment to avoid shortage of resources due to a decline in oil prices and production shortages, extinguishing debt cancellation compensation, administrative and technical assistance, particularly those that help the government capacity expansion in public investment.


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Originally Posted by goldraker

I was not being negative! I said, at the end of the day. We should be, within 4 weeks of a Marshal Plan type of RV! I am very positive, I just hope that my calculations are correct! I hope and pray, more than anyone. That it pops tomorrow. However, I think any time. Between now and 4 to 6 weeks, and this is if? We get an RV, remember according to the CBI. We will be lucky to see 1000 to 1 by the end of the year 2007. These are the facts. An RV is pure speculation sprinkled with some Iraqi bragging and some previous history lessons.................

Originally Posted by goldraker

Trust Me, There Will Be No Rv Announcement Now. If We Are Lucky Enough To Get An Rv. I Would Have To Guess, Any Time Between Now And Into 2008. I Want This More Than Anyone. It Is Always Best To Plan For The Worst. In This Case, That Would Be By 2013. However We Know That We Are Dealing With The Marshal Plan. So I Heard It Was Enacted 2 Months After The Signing. Which Resulted In An Rv! So I Would Have To Hope And Pray. That We Are Due An Rv Within 4 Weeks From Now! Dose Anyone Know If Afganistan Got A Marshal Type Of Plan? I Know That They Lopped.

Nuff said....

Iraq seeks world help to quell bloodshed
May 3, 2007 - 2:21PM

Iraq on Thursday makes a push for international help to end devastating violence that has killed tens of thousands of people since the US-led invasion in 2003.

Top officials have converged on the Egyptian resort of Sharm el-Sheikh for two days of talks on ways to end the fiery anti-American insurgency and communal bloodletting.

Much attention has also been focused on the prospect of bilateral talks between the United States and Iran on the sidelines, the first in almost three decades.

"The conference is an important forum to harness and mobilise regional and international support for Iraq", said Iraq's Deputy Prime Minister Barham Saleh.

"We hope this conference marks transition for Iraq from being a point of regional and international contention and zone of rivalry to one of consensus."

Saleh said Iraq expected more help from neighbouring countries and also for the United States and Iran to cooperate to help Iraq.

"Failure is not an option in Iraq, we have to succeed," he said.

"We would like Iran to be in accord with the US and the international community on the Iraq issue", he said.

Iraq's Finance Minister Bayan Jabr Solagh told AFP he expected countries including Saudi Arabia and Egypt to write off about 40-50 billion US dollars of debt at the meeting.

He predicted Saudi Arabia would write off about 80 percent of the 20 billions US dollars owed by Iraq.

On Wednesday, Iraqi Prime Minister Nuri al-Maliki renewed a plea for international help for his war-torn country.

"The goal of the International Compact with Iraq is not only to reduce Iraq's debt but also to obtain support for the political and democratic process, as well as support in the battle against terrorism," he said.

Iraq's neighbours are to hold a key meeting focusing on security on Friday but have already started holding preparatory meetings.

Hisham Yusef, a top aide to Arab League chief Amr Mussa, said: "There are neighbours who can influence the situation in Iraq, so there were discussions on those lines."

The consultations have included ways of including Sunni insurgent groups in reconciliation efforts.

Heading to Egypt, US Secretary of State Condoleezza Rice said the onus was on Iraq's neighbours to show their commitment to ending violence, warning that their own stability was at stake.

"The most important message that I will be delivering is that a stable, unified and democratic Iraq is an Iraq that will be a pillar of stability in the Middle East and an Iraq that is not stable and not an Iraq for all people will be a source of instability for the region," she said.

Completing a shift in US policy, Rice was expected to talk to Syria and Iran, who have been accused by Washington of funding and abetting Iraq's Sunni insurgency and Shiite militias respectively.

A possible meeting with Iran's Foreign Minister Manouchehr Mottaki would mark the first high level bilateral talks since the United States cut relations in 1980.

However, Iran has yet to give an unequivocal sign it is ready for talks and Deputy Foreign Minister Mehdi Mostavafi said on Tuesday the conditions were not right for a "dialogue" with Rice at the conference.

Rice indicated she would also be ready to discuss issues other than Iraq with the Iranian foreign minister, including the standoff over the Islamic republic's nuclear programme.

"I think I could handle any question as asked," she said.

In readiness for the 27 foreign ministers and 22 other delegations due at the Sharm el-Sheikh talks, Egyptian police have thrown up a tight security cordon around the resort.

US Treasury Deputy Secretary Robert Kimmitt, who travelled with Rice, remained cautious however on the prospects of immediate dividends from the meeting.

"Now not everything is going to be achieved at this meeting in terms of all of the commitments that will need to be made to Iraq over time but I think, as the Iraqis meet more and more of their targets, you'll see more and more commitments to them," he said.

There is an intense battle between US President George W. Bush's administration and the Democrat-dominated Congress over the Iraq war.

On Tuesday, Bush dashed Democrat hopes for a firm timetable for the withdrawal of US troops by vetoing a bill setting a start date for a pullout.

Iraq seeks world help to quell bloodshed - Breaking News - World - Breaking News

Frontpage Interview’s guest today is John B. Taylor, a senior fellow at the Hoover Institution and a professor of economics at Stanford. He is known to legions of students as an excellent teacher and has won awards for being the best undergraduate teacher at Stanford. He is also known to central bankers and economists around the world for his research on monetary policy and especially for his famous Taylor Rule which central banks use as a guide for setting interest rates. For four years from 2001 to 2005, Taylor served as Under Secretary of Treasury where, as head of the international division, he played the central role in the financial front of the war on terror. He is the author of the new book Global Financial Warriors: The Untold Story of International Finance in the Post 9/11 World.

FP: There is a widely-held assumption that the U.S. didn’t engage in any planning for a post-Saddam Iraq. It’s a false assumption isn’t it?



Taylor: Yes, it is most certainly a false assumption. I can speak mainly about the financial area, and that is what I document in my book. For example, we began developing a financial plan for post-Saddam Iraq in the late summer and fall of 2002, months before the invasion. At that time we were, of course, hoping that Saddam Hussein would abide by the U.N. resolutions and that there would be no war. But it would be irresponsible not to plan. Our goal was to prevent a financial collapse if Saddam’s government fell, and to lay the foundations for a new financial system and a new currency. We started by getting the best financial intelligence we could. We wrote and debated options papers. We decided on a two-part plan that began by paying Iraqis in dollars and ended with a new currency—a new dinar to replace the Saddam dinar which had Saddam’s face on it. We chose people to go to Baghdad and implement the plan if there was an invasion. The plan was vetted by the National Security Council and approved by President Bush. In the end the plan was carried out with precession. Twenty-seven plane loads of currency were printed in seven different printing plants around the world and flown into Baghdad where millions of Iraqis eagerly received them in exchange for their old Saddam dinars. Financial stability was restored and to this day the new Iraqi dinar remains a strong and stable currency. I believe the advance planning was a main reason for the success.

FrontPage magazine.com :: Global Financial Warriors by Jamie Glazov

Barzani urges peaceful solution for Kirkuk



The Globe



PM Barzani calls upon Iraqis to unite in the face of terrorism.



Kurdistan Region's Prime Minister Nechirvan Barzani said that his government wants to retain Kirkuk peacefully, and urged Turkey to respect "the will of the Iraqi people," warning of the consequences of military action by the Turkish army inside Kurdistan Region's territory.



While speaking to the pan-Arab al-Sharaq al-Awsat newspaper, Prime Minister Barzani said, "We reiterate that Kirkuk is an Iraqi city with a Kurdistani identity and we have a roadmap to resolve this issue," referring to Article 140 of the Iraqi constitution.



"Our slogan is that we want to rectify what has been forcefully done to Kirkuk and return Kirkuk to its natural position according to the Iraqi constitution and law in a peaceful way," said Barzani in an interview that was published last saturday.



Article 140 of the Iraqi constitution has laid out three major steps to resolve the dispute over the fate of Kirkuk. The first step is the return of Kurdish and Turkoman refugees to Kirkuk and the compensation of Arab settlers, brought to the city by Saddam Hussein's regime, who go back to their original areas in the southern and central parts of the country. The other two steps include a census to determine the population of the oil-rich province of Kirkuk to be followed by a referendum scheduled for the end of this year on whether Kirkuk should be part of Kurdistan or not.



Asked if his government would resort to military force to retain Kirkuk should the constitutional process fail, Barzani responded, "We don't want to and don't like to discuss this issue in this way. The important thing here is that there is a problem, and if one of the parties thinks that by taking the benefit of time and delaying the steps (of resolving the issue) the problem will be forgotten, then it is wrong. Any delay in resolving that issue will further deepen it and delaying it for any single day will further complicate the matter."



In response to a question on the Turkish statements over Kirkuk, Barzani said, "In fact, Turkey is interfering too much in this issue. We say that Turkey needs to respect the will of the Iraqi people?There is a constitution for which 80 % of Iraqi people have voted under difficult circumstances?This issue (of Kirkuk) has to do with the Iraqi people and Turkey doesn't have any rights to interfere in it."



He added that the responsibility to deal with Turkey regarding the Kirkuk issue lies with the Iraqi government.



Despite increasing Turkish threats over the past few months to launch a military incursion onto Kurdistan Region's soil, Barzani said he doesn't expect a Turkish invasion, adding, "Turkey knows its interests."



However, Barzani said he still expects a limited small-scale Turkish operation in the remote mountainous areas against the fighters of the Kurdistan Workers' Party (PKK), but not a large-scale military incursion deep into Kurdistan's soil.



"Turkey knows that a large-scale military intervention serves neither its interests nor ours, so then why should it do such a military intervention," he stated.



Regarding the current violence in Iraq, Barzani said, "The problems and challenges that Iraq is facing today are so huge and deep and difficult; Iraq is suffering from terror and regional intervention."



He warned that the continuation of the present chaotic situation in Iraq would harm all components of Iraqi society, saying, "In this war no one is a winner; all will be losers. Kurds, Shias and Sunnis are all responsible before history because we have had chances for success and we still do."

Barzani urges peaceful solution for Kirkuk

Constitution amending committee discusses article 140

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Baghdad, 30 April 2007 (Al-Sabaah)
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MP Abbas Bayati revealed that committee of constitution change began discussing controversial political sides of the constitution.

He added at statement that the issues which completed are independent committees, unitary council, the judiciary structure and tax policy, while the committee would discuss two main issues at few next days are federalism and the article 140, and he hoped that the committee would finish its work at specified period in the constitution in 15th of next month.

Constitution amending committee discusses article 140 | Iraq Updates

aprove the document (the International Covenant Iraq)



The 50 countries and international organization participation in the (International Covenant Iraq) due to open tomorrow, Thursday in the city of Sharm El-Sheikh and lasts two days.
It is expected that most of these States represent the Minister for Foreign Affairs, with the Iraqi delegation will be led by Prime Minister Nuri al-Maliki.
It is scheduled to approve the document (the International Covenant Iraq) after three working sessions, including two closed.
As will be held on Friday for a mini includes six countries neighboring Iraq, namely (Iran, Jordan, Kuwait, Saudi Arabia, Syria and Turkey), in addition to Bahrain and Egypt, the Arab League and Organization of the Islamic Conference and the United Nations.This meeting will be to support the security in Iraq.
The Assistant Deputy Minister of Finance of America for the Middle East and Africa, Ahmed Saeed has said "to Iraq and the United Nations they finished they had to develop formal document to the International Charter to help Iraq."
He said that "the participants in the meeting of the Charter in Sharm el-Sheikh in the next two days about to sign that document as a basis and reference for the assistance received by Iraq in the reconstruction stage

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Mottaki arrives in Sharm Al-Sheikh
Thu, 03 May 2007 08:46:25
Manouchehr Mottaki has just arrived in Iraq, and is getting ready for the 10 am Local time meeting, which will start with the Egyptian FM speech.

Aimed at bringing stability and economic security to Iraq, the meeting will last till Friday.

A five year International Compact for Iraq (ICI) will be indorsed by the delegates.

Aside from Iran and Syria, and other Iraqi neighbors, representatives from the G8 and EU are to attend.

Talks between Rice and Iranian Foreign Minister Manouchehr Mottaki would be one of the highest-level encounters between Washington and Tehran since the 1979.

The west acknowledges Iran as an influential force on Iraq, both as neighbor and as a strong stabilizer in the Middle East.

Press TV

The 916 daily currency auction was held in the Central Bank of Iraq day Thursday 2007/5/ 3 so the results were as follows :

Details Notes
Number of banks 16 -----
Auction price selling dinar / US $ 1267 -----
Auction price buying dinar / US $ 1265 -----
Amount sold at auction price (US $) 100.640.000 -----
Amount purchased at Auction price (US $) 1.000.000
Total offers for buying (US $) 100.640.000 -----
Total offers for selling (US $) 1.000.000 -----

This is the 8th largest auction ever:

17.Jan.07 - 113.245.000
13.Nov.06 - 110.265.000
07.Nov.06 - 109.105.000
06.Mar.07 - 105.320.000
22.Jan.07 - 104.240.000
14.Jan.07 - 103.410.000
25.Jan.07 - 101.510.000
03.May.07 - 100.640.000