Thread: Archive Latest News - Dinar Think Tank - 27/08/08 - 15/01/09

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IMF Iraq economy flourished after violence decreased

International Monetary Fund said that Iraq economic activity revived as soon as violence regressed however, budget incomes will be affected by the sharp drop of international oil prices which requires cutting off from the spending in next year’s budget. IMF added that the Iraqi government started to prepare additional measures in order to limit spending and that in the items that does not have a priority in 2009 and that to preserve the viability of the monetary policies. An IMF source called to exerting more efforts in order to fight against corruption especially in oil and gas field. IMF source called also to restructure Al Rafidayn and Al Rashid Banks according to auditing and operational scrutinizing operations and to finish establishing the organizational lists of commercial banks.

http://www.alsumaria.tv/en/Economics...decreased.html

The coming GCC summit to discuss draft regional economic partnership proposed by Iraq

Massadermtalaap of the Gulf Cooperation Council reporter (News Iraqi Information) that "the summit to be held in Muscat later this year (2930) in December, will be included in the agenda of regional economic partnership project put forward by Nuri al-Maliki during his recent visit to Kuwait, and Maliki has presented During the visit, a draft regional economic partnership between Iraq and Iran and the GCC states, but this project has a reservation of a regional power window saying that the project would expand Iran in the region, "The GCC Secretary General Abdul Rahman al-Attiya rejected a proposal by British Foreign Secretary During a tour of the Gulf claimed by the Iraq's accession to the Gulf Cooperation Council, describing the proposal as unrealistic. The stage for Iraq Must be overcome before that.

http://translate.google.com/translat...langpair=ar|en

Iraq announces new round of bidding in the Dec. 29 Oil

Oil Ministry official said on Thursday that Iraq announced a new round of bidding in the Dec. 29 this December for an unspecified number of contracts for oil and gas long term. "Asim Jihad, spokesman of the ministry's oil minister Hussain al-Shahristani announced the start of the new round of service contracts in The oil ministry in the Iraqi capital. Jihad declined to disclose the number of fields to be covered by the tour and said that the details will be available at the Conference

He said the ministry is keen to step up efforts to develop oil fields as possible to increase production and exports.

Iraq had said the first round of long-term contracts, including eight large fields of oil and gas in June.

Jihad said that Iraq, which has the third-largest oil reserves in the world and looking to strengthen its links with the world's major oil companies announced a third round after six months.

http://66.102.9.104/translate_c?hl=e...fndGwS0R0d5iLg

Security Council unanimously approves the drive Iraq out of Chapter VII

UN Security Council approved Monday the decision to end the mandate of the multinational force under U.S. command in Iraq on Dec. 31 at the request of Iraq ..The Security Council voted unanimously Monday at a meeting attended by Foreign Minister Hoshyar Zebari said as the representative of the United Kingdom to improve security in Iraq, economic growth and Iraq's relations with its neighbors and called to cancel the decisions taken by the Security Council against the former Iraqi regime, while noting Khalilzad, U.S. ambassador to the Convention Strategy Between Iraq and the United States recognized the security and the improvement and development in all aspects of Iraqi life and thanked the Iraqi government and Iraqi people to defeat terrorism in their positions ..

http://66.102.9.104/translate_c?hl=e...MvafDUEbmGYw7Q

Indicators of low inflation for the month of November

Completed the Central Agency for Statistics and Information Technology, Ministry of Planning and Development Cooperation inflation report for the month of November / 2008 prepared on the basis of field data collection "on the prices of goods and services components of the consumer basket Retail prices in selected markets in Baghdad and the provinces.

The indicators of inflation Ankhvadavi rates for the month of November / 2008 on the level recorded in the month of October, 2008 as reflected in the index of consumer prices by (1.1%), which was a lower index of commodity groups following (fabrics, clothing and footwear, fuel and lighting, Transport and Communications) rates of (0.4%, 8.3%, 1.5%), respectively note that spending on these totals is (16.7%) of the total domestic consumer spending, and commodity groups (food, tobacco and beverages, furniture, medical services and medicines , Miscellaneous goods and services) and a (71.8%) of the total domestic expenditure recorded increase in their prices during the month of November / 2008 compared to the previous month per (2.7%, 0.2%, 0.9%, 1.6%, 0.3%), respectively.

press statement issued by the Central Agency of Statistics today, Tuesday,: "The annual inflation index during the period from November / 2007 and November / 2008 saw an increase (6.7%) as a result of the high index of the following commodity groups (food, tobacco and beverages, Textiles, clothing and footwear, furniture, transport and communications, medical services and medicines, miscellaneous goods and services, rent) and the rise of rates (21.4% 4.6% 2.8% 10.3% 7.2% 11.5% 1.0% 8.9%) The Group (fuel And lighting) recorded a drop of prices (11.1%) during the period from November / 2007 and November / 2008. .. With inflation at the base which is intended to change the proportion in the index of consumer prices calculated after excluding petroleum products (oil, gas , Gasoline) (19607.6), according to the statement, recording an increase (0.9%) over the previous month and increased by (12.4%) for the month of November last year.

http://66.102.9.104/translate_c?hl=e...JG_UPSSFyjl1Ww

Zebari meets with senior officials of US Embassy in Baghdad

KRG coordinator at the UN, Dindar Zebari, met with Thomas Krajiski, senior consultant on north of Iraq affaires at the US Embassy in Baghdad, and other senior officials.

The UN’s role in promoting the elections process, amending the Iraqi constitution, political reform, protecting the rights of the minorities were discussed during the meeting. Views of both sides were identical regarding the need for dealing with the challenges in the Iraqi political process in general to pave the way for implementation of article 140 of the Iraqi permanent constitution.

The role of the KRG concerning referendum on the Iraqi constitution, the elections in Iraq, and the role which the Kurdistan political leadership has made on protecting the rights of the minorities, the rehabilitation and promotion processes particularly in the Kurdistan region, and paving the way to successfully resume the programs of the international agencies, particularly UN, in the Kurdistan region were discussed during the meeting as well.

http://pukmedia.com/english/index.ph...=8346&Itemid=1

Iraqi parliament session postponed to the afternoon at four

Member of the House of Representatives Iraqi Alliance bloc, Faleh Al-Fayad, the "postponement of the meeting of the Council for the removal of al-Mashhadani, the fourth at this afternoon for consultations between the political blocs to take a decision on the issue of removal of al-Mashhadani."

Al-Fayad said in an interview with "Uzmatik", today, Tuesday, that "to postpone the meeting at the fourth afternoon, after a request was made by a number of political blocs to hold intensive consultations on the issue of removal of al-Mashhadani."

The Al-Fayad, a deputy from the tide of national reform, led by former Iraqi Prime Minister Ibrahim al-Jaafari, that "it is difficult to find a consensus within the Iraqi parliament to dismiss al-Mashhadani, because of the refusal of a significant number of deputies to remove him," indicating that "the refusal was for pragmatic reasons The difficulty in finding a substitute for al-Mashhadani in a short period. "

Fayath ruled that "During the parliamentary session today, Tuesday, recalled from the post-Mashhadani, the absence of a national consensus on this issue, despite the insistence of one major blocs in parliament on the issue of dismissal."

The major political blocs in parliament agreed to lift the special parliament session to remove al-Mashhadani on Monday, to today, Tuesday, and made an open meeting.

The Kurdistan Alliance MP in the Iraqi parliament, Mahmoud Othman, said in an interview earlier for "Uzmatik" today, representatives of the masses Alliance and the Kurdistan Alliance and the Islamic Party, insist on the removal of al-Mashhadani, in today's meeting, with Deputy ruled out from the United Iraqi Alliance Abdul Hadi al-Hassani, In an interview earlier for "Uzmatik" today, there is a consensus among the political blocs on the removal of al-Mashhadani.

The Iraqi Parliament Speaker Mahmoud al-Mashhadani belongs to the National Dialogue Council, one of the components of the Accordance Front, which includes the Iraqi Islamic Party and the people of Iraq, with 38 seats of 275, and already the Iraqi Accordance Front Front had advanced, 2007, the proposal recommends the removal of the chief Mahmoud al-Mashhadani, was broken against the backdrop of heated clashes between striking hand-Mashhadani guards and one of the deputies of the Alliance.

http://translate.google.co.uk/transl...hl=en&ie=UTF-8

Iraq oil revenues immune from claims until '10
Iraq's energy revenues will be immune from financial claims through 2009 under a resolution passed by the UN Security Council on Monday.

A US- and British-drafted resolution, passed by all 15 council members, also agreed to a Baghdad request for a review of past council resolutions on Iraq dating back to the Saddam Hussein era with the aim of terminating outdated ones.

Two months after the US-led invasion that toppled Saddam in 2003, Iraq's oil and gas proceeds were put into a development fund for the country. An international board monitors the fund, now held in Baghdad.

The Security Council ruled at the time that the proceeds would be immune from seizure under legal claims. Iraq is still laden with debts and claims inherited from Saddam, notably from Kuwait, which the former Iraqi leader invaded in 1990.

Since then, the immunity has been renewed as part of an annual resolution to authorise foreign forces in Iraq. That authority lapses on Dec. 31 and is being replaced by bilateral accords between Iraq and individual countries, so this year's resolution was confined to the energy revenues issue.

"We need the assurances that Iraq's resources and financial assets are available for the country's recovery program," Foreign Minister Hoshiyar Zebari told the council.

"Without such assurances, the functioning of the Iraqi government and the current stability could be seriously endangered."

But he said Iraq, which sits on the world's third-largest oil reserves, was "fully committed to the resolution of all legitimate claims", in particular settlements stemming from the invasion of Kuwait.

US Ambassador Zalmay Khalilzad said the extension, which lasts until the end of 2009, would give the Iraqis time to work on plans for dealing with claims.

"I think this was very important. Without such support the progress could have been put at risk," he told reporters.

The council also decided to review its resolutions on Iraq beginning in 1990, some of them imposing sanctions on the Saddam government.

"It's right that we now overhaul their provision with a view to their termination as soon as is feasible," British Ambassador John Sawers told the council.

The council asked UN Secretary-General Ban Ki-moon to consult with Iraq on the issue and report back.

To replace the UN mandate over foreign forces in Iraq, the Baghdad parliament last month approved a security pact with the United States that paves the way for US forces to withdraw by the end of 2011.

But approval of a similar measure that would allow troops from Britain, Australia and some other nations to stay on fell hostage on Monday to a political row in Iraq's parliament. The speaker suspended the body's regular session until Jan. 7 after deputies demanded he stand down over an alleged insult.

In his speech to the council, Zebari paid tribute to the countries that had sent troops to Iraq, some of them at considerable cost in money and lives. The United States has lost over 4,200 citizens there, mainly in insurgent attacks.

"Iraq owes you a debt of gratitude," Zebari told the troop contributing countries, "and we share our condolences with you for the sacrifices that this historic struggle has required."

He said that partly due to a big decrease in attacks "this year we have achieved remarkable progress and turned a vital corner towards the stabilization and recovery of my country".

http://www.arabianbusiness.com/54186...laims-until-10

Demand for dollar down in daily auction

Demand for the dollar was lower in the Central Bank of Iraq (CBI) auction on Tuesday, registering at $120.320 million compared to $251.350 million during the previous session.

“The demand hit $20.070 million in cash, covered by the bank at an exchange rate of 1,178 Iraqi dinars, and $100.250 million in foreign transfers outside the country covered by the bank at an exchange rate of 1,175 Iraqi dinars per dollar, according to a CBI news bulletin received by Aswat al-Iraq.

None of the 14 banks that participated in today’s session offered to sell dollars.

The Central Bank of Iraq runs a daily auction from Sunday to Thursday.

Demand for dollar down in daily auction : Aswat Al Iraq