Thread: Archive - Latest News Think Tank - 15/01/09 - 04/05/09

Papin: the country in a state of recession and inflation at the same time

The Minister of Planning and Development Cooperation Ali Baban, the country is in a state of recession and inflation at the same time.

Baban said in a press conference held yesterday at the headquarters of the ministry both cases there is an abnormal condition, he said, adding that the reason is due to the different perceptions of the ministries of Finance and Planning.

He pointed out that the financial stresses that the causes of inflation is the liquidity, while the perceptions of the planning to the low level of production, and rising interest rates, which disrupt the productive process.

Baban said that the ideas of his ministry from a non-sponsored, with the central bank always Ihoudy considerable support for his ideas, despite the existence of obstacles in its work. He pointed out that the ministry was striving to break the margin of political and partisan in the Social Ministry, and find solutions to building a sound economic base serves the country at the end of the day.

He called on Minister for Planning to the need for the integration of small firms, banks and insurance companies in the country among the institutions to create a giant that can compete with international companies, and have the ability to development, and performing tasks, and earn the votes of local and external.

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British official announced that his country's forces would begin withdrawing end of May next

The agent said the British Ministry of Defense Will fossil during a visit to the governor of Basra, on Tuesday, that his country's forces would begin their withdrawal from the city end of May next.

"The Undersecretary of the Ministry of Defense (Voices of Iraq) that the plans are set for the withdrawal of British troops from Basra and would start in May next withdrawal preliminary, promise to be a full withdrawal from Basra, the end of July this year.

Said Mohammed al-Waeli of the Agency itself to meeting with the British side was occupied by a discussion of many issues in the forefront of encouraging the process of investment and economic development in Basra, has also been addressed to the withdrawal of British troops from the city.

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Parliament, a meeting Wednesday to vote on the budget next week

The lifting of Iraq's parliament, on Tuesday, to its Wednesday after the completion of the second reading of the draft general budget for the year 2009, to be voted on during the next week.

And raise the First Vice-President of the Council, Sheikh Khalid Al-Attiyah said Tuesday's meeting, which was the completion of discussions on the budget in 2009, declaring that the vote on the budget will be within the next week.

The House of Representatives on Wednesday opened its regular work-Attiyah headed to complete the second reading of the draft federal budget law for 2009.

The federal budget for Iraq for 2009 has not been approved so far, amounting to 62 billion dollars, was calculated on the basis of $ 50 per barrel price of oil.

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Iraq recognizes the more than 13 billion dollars for Kuwait

State of Kuwait has announced that they have so far received more than 13 billion dollars in compensation because of its invasion of the former regime in 1990.

He said the UN Security Council that Iraq was forced to pay five percent of its oil revenues to fund the United Nations to compensate for the Iraqi invasion of Kuwait.

The sources added that the Fund received requests for compensation of $ 368 billion dollars, but he admitted to only $ 52 billion, including 39 billion to Kuwait, according to figures from Kuwait and from the Fund.

Fund and the payment of 27 billion dollars in compensation from the Iraqi invasion of Kuwait, according to figures published by the Fund on its website and back of the end of the month of January last.

Iraq has repeatedly called for since the fall of the former regime, foreign countries, especially Kuwait and the write-off tens of billions of dollars in compensation payments, or a significant reduction at least.

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Scramble for Iraq energy contracts
Iraq has received submissions from 38 international energy companies looking to qualify for a second round of bidding for contracts to work on some of its prized oil and gas fields, an Iraqi oil official said on Tuesday.

Iraq will decide by the end of March which of those companies have qualified, said Abdul Mahdy al-Ameedi, deputy director general at Iraq's petroleum contracts and licensing directorate.

"Some of the companies applied last time but didn't qualify, some are new," Ameedi said.

Iraq announced a second-bidding round for oil and gas fields at the end of December, naming 11 fields it would open up for bidding for service contracts.

Some 35 companies qualified in the first bidding round after around 120 applied, and 32 were still in the race for deals.

The first bidding round was announced in June for 8 oil and gas fields.

The fields announced in the second round could increase oil production by up to 2.5 million barrels per day (bpd) in a few years, Iraq's Oil Minister Hussain al-Shahristani said when he announced the tenders.

That is about equal to what Iraq, which has the world's third largest oil reserves, currently pumps.

The fields announced in the first round could provide another 1.5 million bpd in additional output. The oil ministry was expected to announce the winners of the first round by the middle of this year, while contracts for the second round would be finalised by the end of 2009.

http://www.arabianbusiness.com/54788...38-energy-bids

Iraq to review costs of GE, Siemens deals
The Iraqi government will study steps to reduce the cost of two giant electricity deals with Siemens and General Electric, an official said on Tuesday.

Government spokesman Ali al-Dabbagh said the cabinet had decided to form a committee including the ministers of finance, electricity and planning, along with the central bank governor.

In a statement, Dabbagh said the committee would consider issuing treasury bonds to finance the contracts along with "the possibility of reviewing the two contracts to lower the cost or to divide its cost into installments."

Planning Minister Ali Baban told Reuters "a committee has been established by the cabinet to dicuss how to finance the two deals and also how to improve the terms of the deals."

Baban declined to give further details.

The committee's recommendations would be submitted to the cabinet for a decision, Dabbagh said.

Last year Iraq agreed the 1.5 billion euro deal with Siemens for 16 gas turbines. The GE deal, worth $3 billion, will provide the country with 56 turbines.

The electricity contracts are a major part of Iraq's drive to end chronic power shortages that are a serious handicap for Iraq's economy - and a major problem for everyday life - six years after the US-led invasion.

http://www.arabianbusiness.com/54787...-siemens-deals

Maliki calls for increased oil revenues

Prime Minister Nuri al-Maliki, on Wednesday, to an increase in oil revenues, indicating that the financial crisis affecting the global economy.

Maliki said in a speech at the opening of the Conference on Development Alternatives in Iraq, "We need to increase oil revenues, although one supplier and necessary for the activation of other sectors to create a renaissance of agricultural and industrial by providing the necessary funds for it."

Iraq relies on oil revenues by almost 95% of its budget. Has suffered from lower oil prices to about 70% from the levels recorded by the standard $ 150 a barrel in last July and went far to about $ 35 a barrel. Maliki said that "the global financial crisis is definitely affecting the Iraqi economy and we must be our own economic theory."

The Prime Minister added that "Iraq's development needs and the vision of an integrated theory of the integrated economy, and the country needed more money, investment and integrated economy," noting that "the oil sector has not received any attention in previous years."

Maliki stressed the importance of "the private sector to develop the economy," he said, "We must create the integration between all sectors, especially since the Iraqi private sector, it has the capacity and funds," he said.

He called on politicians to "help create the political climate and the landscape in the economic field has to offer, and make way for the investor", was present and the need to come up with results "serve Iraq," he said. Started in Baghdad this morning, the Conference on Development Alternatives in Iraq, the presence of the Prime Minister and Minister of Planning Ali Baban, who said yesterday that the aim of the two-day conference, which is a study for the government on finding alternatives to development in Iraq.

It is noteworthy that the reduction of Baban said that the adoption of Iraq's oil and the diversity of sources of income highlights the challenges facing Iraq for the advancement of economic reality, calling for the promotion of foreign investment and interest in the rest of the sectors and not to rely on oil as a financial one.

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Secretary-General of the Council of Ministers: oil revenues do not cover investment and operational budget

Secretary-General said the Council of Ministers on Alaak, Wednesday to highlight the phenomena and challenges for the public budget for the year 2009, the oil revenues that are unable to cover the investment and operational budget.

The Alaak told (Voices of Iraq), on the sidelines of the Ministry of Planning and Development Cooperation, which was held on Wednesday, "There are events and challenges facing the public budget of the State is that the oil revenues, however, able to cover investment and operational budget, as a result of the transition process in Iraq after the great 2003 which commits the Government produced the repercussions of the economy according to a favorable investment climate requires appropriate infrastructure and economic philosophy of art. "

Iraq added that the operational budget, "critical, although it has developed according to scientific standards within the requirements needed to cover the sectors with a need to put pressure on expenses," he said, noting that "the budget allocations and the defense and interior ministries in the budget, fill 50% of their needs, in addition to the failure of public administration in budget preparation and adherence to the reports and information, which reflected negatively on the allocation of resources, as well as the survival of the accounting system of government in Iraq, however, before the product requirements of investors. "

The Alaak saying "the State is still working on the support of companies self-financing of the budget, while these companies make additional annual payments to their production, as well as the lack of a plan in Iraq to the system and access to a large amount of tax added to the competent departments directly money on the public budget, to be separate from the general budget and the economic and social functions in the absence of a national strategy, "emphasizing" the importance of speeding up the self-determination of self-financing companies and to stop the financial support through the public budget. "

And solutions of financial and economic potential of the State, the Secretary-General of the Council of Ministers that "the solution is strengthening the financial income tax at both the national and local levels, pricing policies and the development of fair and effective collection services water, electricity and telephone," adding that "financial solutions is also updating the financial management in the areas of budget preparation, ****ution and financial reports to improve the level of performance with the work of accounting and regulatory reform. "

Alaak He said that among the expected economic solutions, "the establishment of the Supreme Council for the oil and the granting of financial and administrative powers and contractual rights to develop fields and to promote and increase production, in addition to setting up a fund oil investment as a tool to restore fiscal balance and the management of the joint."

Alaak stressed the need to continue to "improve the investment climate and private sector development, and the extra task of the legislative and administrative reforms, and the initiative to establish a public joint stock companies involving investment by the Government to absorb a certain percentage of the surplus of human resources in the organs of state enterprises and the public budget to support the future Balastqtaat tax."

And the Ministry of Planning and Development Cooperation, on Wednesday, a conference took the theme "Development Alternatives in Iraq in light of the decrease in oil revenues," was attended by Prime Minister Nuri al-Maliki and some government figures and parliamentary specialized area economy.

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Central sales rise to 174 million dollars in the canteen

the U.S. dollar sales of the Central Bank in an auction for the sale and purchase of foreign currencies, on Wednesday, reaching 174 million and 280 thousand versus $ 108 million and 425 thousand dollars at the previous meeting.

The bulletin issued by the Central Bank and the Agency has received (Voices of Iraq) a copy of which was that "the total volume of demand for the dollar stood at 174 million and 280 thousand dollars, a stable exchange rate was 1170 dinars per dollar."

The figure is up from the previous meeting, which recorded a total volume of demand for the dollar stood at 108 million and 425 thousand dollars, and the exchange rate was 1170 dinars per dollar.

The Bulletin that "the demand for the dollar is distributed by 23 million and 500 thousand dollars in cash, covered by the bank at the exchange rate was 1176 dinars per dollar, including the central bank and a commission of six dinars per dollar."

According to the bulletin, "the value of remittances outside the country reached 150 million and 780 thousand dollars, covered the central exchange rate was 1173 dinars, including the central bank and a commission of three dinars per dollar," did not make any of the 15 banks participating in the auction, offers to sell the dollar.

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UK government refuses to publish pre-Iraq war discussion

The British government refused on Tuesday to publish records of cabinet discussions on the legality of invading Iraq in 2003, despite a tribunal ruling in January that it should release them.

Justice Secretary Jack Straw used a ministerial veto to block the request made under the Freedom of Information Act, saying the release of the records would "in my judgment risk serious damage to Cabinet government."

"The decision to take military action has been examined with a fine-tooth comb; we have been held to account for it in this House and elsewhere," Straw said in a statement to parliament.

"But the duty to advance that interest further cannot supplant the public interest in maintaining the integrity of our system of government."

Publication of the documents could have embarrassed Prime Minister Gordon Brown, whose predecessor Tony Blair was accused by critics of glossing over lawyers' initial reservations about launching the invasion that overthrew Saddam Hussein.

Previously released documents have shown that Attorney General Peter Goldsmith, then the country's senior legal officer, had cast doubt on the legal grounds for war on March 7, days before Blair ordered British troops to invade Iraq.

Ten days later, when Britain had failed to get a new United Nations resolution authorizing an invasion, Goldsmith gave the cabinet and parliament short written advice that war would be legal -- and mentioned no doubts.

Blair denied Goldsmith had bowed under political pressure but opposition parties accused the prime minister of deceit. Brown was finance minister and supported Blair over the war.

The case is likely to raise questions about the government's commitment to open administration and the strength of a Freedom of Information Act that came into effect in 2005.

The Information Commissioner ruled in February 2008 that the government should release the Iraq cabinet documents. The government appealed, but a tribunal which decides on requests for documents under freedom of information laws said it was in the public interest to release them.

The minutes of cabinet meetings are normally kept secret for 30 years.

Foreign Secretary David Miliband has also come under fire for blocking the publication of documents related to the treatment of British resident Binyam Mohamed, held in Guantanamo Bay for more than four years before his release this week.

The decision to join the U.S.-led invasion of Iraq provoked mass protests in Britain in the weeks before the war and still angers many traditional supporters of the ruling Labour party -- in power for 12 years but now lagging in polls.

Britain has said it will withdraw almost all its remaining troops from Iraq by the end of July.

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