Thread: Archive News - Iraqi Dinar Think Tank - 22/06/2010 - 04/10/2010

Ali Al-Dabbagh: the Government is the integration of the ministries of oil, electricity, under the name of the Department of Energy

Government spokesman Ali al- Dabbagh said is merge the Ministry of Electricity and oil under the name of the Ministry of Energy is subject to the completion of the complete infrastructure for decades licensing rounds conducted by the Ministry of Oil The government is studying the issue of amalgamating the two ministries.

Ali al-Dabbagh said in a press statement by an embedded reporter That now requires the separation of the two ministries (oil, electricity) for technical reasons related to the nature of their work, based in poor coordination between the ministries of electricity and oil during the last period

http://al-iraqnews.net/new/political-news/14422.html

Central Bank: Iraq is in economically developed with respect to the subject of private banks

Denied the Iraqi Central Bank Governor Sinan al-Shabibi that the development of private Iraqi banks risk Matwkdh by the Ministry of Finance down.

Shabibi said that "Iraq is in economically developed and clear, especially with regard to the subject of private banks, which deal with the Central Bank on the basis of an economic force in all the world."

He Alshabibi that "the main problem facing the Iraqi economy is the impact of the political reality of the economic side in the country, which needs to provide the restoration of political factors to influence positively the work of government and private banks alike."

He described the charges Shabibi Ministry of Finance on the loss of private banks as "illogical and can not be applied to the land of the economic reality in the country."

http://www.radiodijla.com/cgi-bin/ne...?id=2010-06-25

Al Maliki contacts Allawi for check up

Al Iraqiya spokeswoman Maysoun Al Damlouji revealed that Prime Minister Nuri Al Maliki contacted Al Iraqiya leader Iyad Allawi to check up on him after media reported news on attempts to assassinate him.

Al Maliki affirmed that security forces are ready to provide protection for Allawi.
Al Iraqiya List is awaiting Al Maliki’s visit for talks over the formation of the new national partnership government, Al Damlouji said.

Al Maliki and Allawi meeting will focus on the formation of the next government and relations between both coalitions, Cabinet spokesman Ali Al Dabbagh said.

http://www.alsumaria.tv/en/Iraq-News...-check-up.html

Iraq seeks 20 billion dollars for four new oil refineries

Oil Minister Hussein al-Shahristani said on Saturday that Iraq is seeking around 20 billion dollars to build four new refineries as it seeks to become a net exporter of petroleum products.

"The investment in the new refineries will be around 20 billion dollars. Each one will cost around five billion dollars," he told reporters at a conference attended by global energy and construction giants interested in bidding for the contracts.

Iraq aims to boost its refining capacity by 740,000 barrels per day (bpd) on top of the current 550,000 bpd through construction of the four refineries in the central province of Karbala, in the northern oil hub of Kirkuk and in Nasiriyah and Maysan in the south of the country.

"The investment will not be constrained -- we are looking for real partners and in any ratio," Shahristani said.
"Any investor can invest in full or in partnership with Iraq," he added.

"The investor will receive a discount of five percent on the price of crude compared to international prices, as there will be tax breaks, land provided and transport as well."

"We welcome any investor to join us under the design that is developed," he added, referring to feasibility and design contracts that Iraq has already begun awarding.

The Iraqi parliament adopted legislation in 2007 allowing for full foreign ownership of refineries, breaking the stranglehold of the state over the oil sector under now executed dictator Saddam Hussein's regime.

The Karbala refinery is intended to have a capacity of 140,000 bpd, the Nasiriyah refinery 300,000 bpd, and the Maysan and Kirkuk plants 150,000 bpd each.

"There is a priority for construction of a refinery in Karbala as it is in the centre of Iraq and the inputs can be transferred to it from the south and north, followed by Maysan, Kirkuk and then Nasiriyah," said Iraq's deputy minister for refining, Ahmed al-Shamma.

"It is expected that some of the production from the Maysan, Kirkuk and Nasiriyah refineries will be surplus to domestic needs, but that will be reduced with the increase in demand over time," Shamma said.

"These refineries will meet future needs for the next two decades."

Iraq currently has three refineries in Baiji in the north, Basra in the south, and Dora in southern Baghdad.

They have a combined capacity to handle 550,000 bpd of crude, producing refined products including 12 million litres of petrol, 15 million litres of diesel, nine million litres of heating oil and large volumes of fuel oil for power stations.

But the combined effect of years of UN sanctions against Saddam's regime and the US-led invasion of 2003 and its violent aftermath have meant that they are in need of refurbishment and Iraq also has plans to upgrade them.

The head of the oil ministry's investment committee, Sami al-Aaraji, said that in total "the amount likely to be invested in refineries is 25 billion dollars."

Iraq has ambitious plans to boost its crude output from the current 2.5 million bpd to as much as 12 million bpd over the next six years and has awarded a series of deals to oil majors to develop major new fields.

"Iraq during the next six years will become the biggest producer and exporter of crude as well as a major exporter of refined products," Shahristani said in a challenge to the current oil kingpins Russia and Saudi Arabia.

http://www.zawya.com/Story.cfm/sidAN...l%20refineries

Maliki will study the agreement a coup in the formation of the government allowing power-sharing agreement with Allawi regaining the consent of the Americans

Preparing the Iraqi prime minister Nouri al-Maliki to study the agreement with the «Iraqi List» led by former Prime Minister Iyad Allawi, provides power-sharing executive (the presidents and ministers) between the two lists, and persuade the Kurds to accept the presidency of the Parliament.

Despite the failure to close to Allawi and Maliki to clarify the upcoming meeting between the two men are expected to be Sunday, but they confirmed that next week will witness a revolution in the path of forming a government that an agreement could be signed between the two parties, which a consensus in principle on the sharing of executive power, and still different in the mechanisms of And conditions of this division.

Under the agreement, as reported among the «Iraq», to be Prime Minister Allawi, and the post of President of the Republic of the owners. And by Fuad Masum «Kurdistan Alliance» the presidency of the parliament.

But the «coalition of the rule of law» has another scenario, which takes al-Maliki as prime minister, Allawi presidency.

According to some sources that the deal will be the focus of the meeting al-Maliki, Allawi and the American-backed. She explained that the «executive power shared between Allawi and Maliki facilitate the task of the war on terrorism, and reduce the growing Iranian influence».

They noted that the Vice President in charge of the Iraq file Joseph Biden, will visit Iraq in the coming days to confirm the U.S. support for the agreement.

The leader of the coalition «Iraq» Sheikh Jamal melon told «life» that «Maliki, Allawi during a visit the next two days», hoping to «the possibility of moving the political crisis in the country, and to initiate serious talks to form a government».

The masses Alawi Al-Maliki 180 parliamentary seats. And still the position of the other parties in the equation, ie, «National Coalition» (70 seats) and «the Kurdistan Alliance» (43 seats is not clear from this scenario, but sources «Iraq» and «State Law» confirm that the distribution of posts would be based on election results, And the government will not come to light without the participation of other coalitions. Depends on the implementation of this scenario, the approval of the Kurds who are demanding the Presidency of President Jalal Talabani.


http://www.baghdadtimes.net/Arabic/index.php?sid=62472

Legal expert Tareq Harb: the final date for the election of the President of the Republic is the end of working hours on 13 July next

Legal expert said Saturday that the working hours on July 13 is the next deadline for selection of a president to be preceded by the House of Representatives elected its new chairman.

Tareq al- war Akaniwz that "Article 72 of the Iraqi constitution and clear, which suggested that the House of Representatives chooses president of the republic after 30 days of the first session of the Council."

He said the war that "the constitutional article identified 30 per day for the first Anaaked did not specify for the first session, so Valmckkon end to a ceiling for the selection of the constitutional President of the Republic on 14 July next Aistndon to the correct interpretation of Article."

And a war that the "lack of commitment from the ceiling time of article 72 of the Iraqi Constitution consequent perjury, that the House members have sworn by applying the Constitution and the law faithfully."

He pointed to the war "there is no constitutional provision or disables the extended period specified in Article 72 of the Constitution concerning the election of the President of the Republic".

The House of Representatives of Iraq's new hold its first session in June 14th of this in the presence of the majority of its members and representatives of foreign embassies and Arabic, and has led a number of members was sworn in, while postponed the election of the Chairman of the House of Representatives in session because of lack of agreement the political blocs to a particular candidate for office and decided to President of the Council to make the meeting open.

Did not succeed the four major political blocs winning the elections, the Iraqi List and the coalition of the rule of law, the National Coalition, and the Kurdistan Alliance to agree on a mechanism through which to agree on the selection of the three Presidencies due to ongoing dispute over the prime minister.
......................

http://www.irqnta.com/news/2010/06/26/2010-06-26-07.htm

Central Bank : Raising the zeroes of the Iraqi currency require more time

The central bank said that the process of lifting the zeroes of the Iraqi currency require more time, being a very complex process because of the actions required by the routine.

The aide said the central bank governor Ahmad Salman al-Jumaili in a press statement that the lifting of the three zeroes from the Iraqi currency will not be overnight and the situation in the country to Aithml such a change in the present time.

The Jumaili to the process of change will ensure its future, and there is no intention at the present time the central bank changed it possible in the future if necessary.

The central bank is responsible for maintaining price stability and the implementation of monetary policy, including exchange rate policies and management of foreign reserves and the issuance of currency management, in addition to the organization of the banking sector.

http://radionawa.com/ar/NewsDetailN....697&LinkID=155

Deputy Central Bank Governor : Balancing the legislation of foreign currency will the elected government in front of their responsibilities to ensure the proper conduct oil supplier
Promises to start .. budget legislation to act in foreign currency from oil supplier

The analysis of financial and monetary operations in Iraq, and to consider carefully the links from within the mechanisms governing it, leading to a systematic understanding of the urgent need to change the financial system and the direction in which helps the state to perform its functions in the development, stability and justice.

There is no doubt that the mechanism for the preparation and implementation of the financial budget of the State in Iraq is, in essence the same that took its current form early fifties of the last century. But what it entails weaknesses and deficiencies were not a negative effects that become apparent in recent years and outlined by the previous studies cited by the paper, which will be referred to its conclusion later. And for the withdrawal of the state of the areas of production and productive investment, which accounted for a portion of foreign currency, in addition to other properties, including the powers of the executive and the role of the private sector which has evolved to act in the greater part of its oil resources.

That the legislation of balance of foreign currency, will develop, for the first time, an elected body and the government emanating from in front of their responsibilities to ensure the good conduct supplier of oil. It is found that balance how much is the custom of this resource for the import of the government and external payments and what imports for production and investment, consumption and Why pay the debt, 'the former and new How much is spent dispiriting foreign currency Aivadat various tasks. But also show that resource Mai_khass precautions official foreign currency. Is it not necessary to estimate the financial authority foreseen addition to official reserves are invested abroad by their nature, but the government wants to know what the minimum reserves that can not go down below and House of Representatives as well, and what is the maximum for which to no need to overcome deduct more of its oil resources and add to it. Will show the proposed budget amount that is sold to the private sector, and here is the importance of analyzing the private sector demand for foreign currency, and link the application to the investment activities and production Iztalaa and content of foreign goods and services in addition to consumer demand and should be guided by Baltsanev relevant international for the preparation of Accounting Manual for this budget, including : International Standard Classification for Foreign Trade and Balance of Payments Manual, the international investment position, noting the international directory of government finance statistics. It is noteworthy that government expenditure in foreign currency is managed from this budget and it being the accounting entries, and sets aside funds in the currency of contract and estimated dollar values for the purpose of aggregation, with the addition of ad hoc changes in exchange rates between the dollar and other currencies. That the decision to borrow from abroad should be anchored in the mechanism of the preparation of the budget of foreign currency the proposed implementation and not, as has happened with the problem of financing the electricity and talks now going on borrowing from abroad, with total neglect of the actual situation of the balance of payments which is not generally the case in other countries. This prepares the budget to deal with masterly foreign investment and its effects on the exchange market and exchange rate and inflation. Under the proposed new system would be spending KD axis current budget and important statement of how to finance expenditure in dinars, where he was going and what to do and its relevance to development and stability That is what helps to remove ambiguity and confusion.

The current financial system in Iraq Aiatni from within the mechanisms of funding sources for the maintenance of the Iraqi dinar and functions of macro-economic and its effects, is there a display of goods and services to absorb, and how to absorption, and the extent to offset this expenditure of real resources for production and productive investment and therefore should be reconsidered.

It is therefore necessary to take care of the budget of expenditure in Iraqi dinars detailed sources of funding in local currency, on different bases in parallel with the development of the information base for taxes direct and fees kinds. appear explicitly, and not as being, the value of sales of foreign currency to the private sector as well as sales of foreign currency to the Bank Central to the promotion of international reserves. Because the sales revenue of foreign currency to the private sector real they are carved out of cash in his possession and thus the course of the income, and also will be used for much of this in imports supply the display while the foreign currency sold to strengthen the international reserves of the Central Bank financed the issuance of currency exchange to invest in Abroad, and therefore impact inflationary. And so complete the tasks of institutional control over the disposition supplier of oil and improve access to it. have shown in a previous study that the proposed system is best suited to all countries that rely on oil or similar sources, the same degree of adoption of Iraq. I hope this Proposal carefully the concerns of those who are really suffering, public affairs and eager to better the role of the state in the lives of Iraqis.

http://www.almowatennews.com/news_view_5158.htm

External pressure to delay the formation of the Iraqi government to post a U.S. withdrawal

A member of the Kurdistan Alliance that foreign pressure to contribute negatively to the delay in forming a new government until after the American withdrawal from Iraq.

He accused the coalition member Mahmoud Othman said in an interview to "Radio Sawa" Iran is seeking to block efforts to form a government after the American withdrawal to be appropriate to the situation, it is not to delve into more details.

While the MP denied the rule of law Abdul Ilah al-Tamimi undergo coalition allied with Iraq's national, regional and international pressure on the formation of the government, adding that the coalition did not resort to any dialogues in the regional state regarding the ongoing political process in the country.

In turn, an MP from the state of law, Kamal-Saadi said that the territorial factor is the most important reasons for the failure to form the next government, and criticized the use by some politicians to neighboring countries.

Iran has been received after the announcement of the results of legislative elections, and the delegation of the National Alliance and the Iraqi list, as well as other political figures.

http://www.almothaqaf.com/new/index....1-27&Itemid=72

U.S. experts : Obama's administration runs from behind the scenes scenario out of the deadlock over forming a government

Iraq stands today before a new twist in its history after the parliamentary elections under way, and re-shuffling papers in the Iraqi arena persons, and formed a sharp polarization of any team not able to achieve a decisive victory which can take office. The elections showed site abroad in determining home and decisive influence in the reformation of Iraq's internal equations, after seven years of U.S. occupation, in an attempt to redraw the political scene again.

And continues to Iraqi institutions such as the police and the army and the presidency and parliament fragile. According to the security agreement reached between the United States and Iraq in 2008, it will stop all combat operations by next August 31 with the reduction of the number of U.S. military forces to 50 thousand so that a limited mission to provide advice and assistance to the Iraqi army.

The problem was not that Iraq is facing today in the process of conducting the electoral process in itself, but in the ability of Iraqis to the implementation of the entitlements and the resolution of the results and thus determine the future of the relationship with the United States as well as management approaches with Iraqi neighborhood levels.
There is an Iraqi saying: "Do not remove the cake from the oven just to smell good."

The same applies to the formation of the Iraqi government. The coming months could see the dawn of the periods of a liar, and many of the threats and political savvy and bargaining, but the cake at the end of the day will have matured and will be the best the U.S. can do is monitor the stages of maturity of the cake in the oven.

Acknowledged part Makourk former national security adviser in the administration of U.S. President George Bush calls the existence of the last few weeks have been directed to U.S. officials to push the Iraqis to move faster. But he believes that Washington's involvement and public pressure would lead to better result. The situation remains the greatest concern is the security of the United States at the current stage.

According to Makourk which currently giving final touches to a book on U.S. policy in Iraq and the possibilities of establishing a long-term strategic relations between the two countries, has succeeded the United States and Iraqi forces in dealing with this period of transition well. He says that "the security situation is stable even after a series of bombings that took place on a large scale since the election on March 7."

He adds: "Despite the many notable incidents, such as the failed attempt to steal the Iraqi Central Bank on 13 June, but the levels of violence in general has declined to its lowest level since the war."

But expert at the Council on Foreign Relations in New York, Max Boot, he said there is definitely senior officials in the administration of President Barack Obama's running behind the scenes, the ideal scenario out of the current impasse in the Iraq.

Especially since a constitutional vacuum would, if prolonged to encourage rebel elements carrying out terrorist acts to destabilize the security, which means blocking the implementation of the security agreement between Baghdad and Washington, which mature cabinet. The delay in forming a government also threatens the possibility of negotiating a new agreement to regulate the American-Iraqi relations after year.

http://www.uragency.net/index.php?aa=news&id22=8797