Thread: Archive News - Iraqi Dinar Think Tank - 06/10/2010 - 24/01/2011

Economists: The version of class 100 thousand dinars will not benefit the Iraqi economy

Economists believe the Iraqi province of Kurdistan, said the issuance of currency from 100-thousand Iraqi dinars, will be in the interest of the country's economy, the trading will not end U.S. dollar in business transactions, but will increase the chances of corruption.

It was an economic advisor at the CBI, the appearance of Mohammed, has recently announced that "the central bank intends to issue a currency of class 100 000 Dnyar, in order to encourage citizens to deal in the currency of Iraq, they are dealing in U.S. dollars more than their dealings in the local currency, due to ease of handling by compared to the currency of the country."

The economist said Aram Ahmed, a Kurdish news agency (Rn) that "the policy of Central Bank of Iraq is not successful, and the issuance of currency from a 100 thousand dinars will not add anything to the country's economy, it is better for the central bank pumping in small denominations of currency as a group JD 50 and less to the market, and cut the road to higher prices, which offered Iraq to price inflation."

Ahmed said he was "not able to the central bank to prevent trading in the currency of the U.S. dollar, as it did not Taatkmen two States, China and Japan to pursue this policy," noting that "all that there is an interest of some people in the central bank and behind the subject, but do not have any economic benefit of the country, and the financial revenues of Iraq come from petro-dollar funds, so the issuance of currency, the 100 thousand Dnyar will cause an increase opportunities for corruption."

A member of the Syndicate of Economists of Kurdistan, north-Nouri, L (Rn) that "the issuance of currency or else a 100 thousand dinars, will hurt the Iraqi economy, because the Iraqi market is suffering from inflation already," adding that the aim of issuing this category of the currency, rather than strengthening the economy the country, but corruption and take advantage of some persons, of the contracts to be concluded to print that category, with private companies in this area."

The Nuri said, "Iraqi currency from the two categories of 25 010 الاف had caused inflation, while there is talk of issuing 100-A as well," pointing out that "the citizens expect the government to tackle inflation and not further escalation."

http://www.aknews.com/ar/aknews/2/204696/

Governor of the Central Bank is lending to the government by the Bank of harm to his reputation and performance of

Considered the central bank governor, on Wednesday, that lending to the government by the bank will hurt the reputation and performance, as called for using the surplus in the previous budgets, to supplement the current budget.

He said Shabibi in an interview for "Alsumaria News", on the sidelines of a meeting of the Finance Committee's interim parliament, today, chaired by Khalid al-Attiya and the presence of representatives from the Ministries of Finance and Planning, said, "lending the government by the Central Bank of the damage and significant risks to the reputation and performance of the Bank, It also will contribute to the weakening of its ability," calling to "use the surplus in the previous budgets, to supplement the current budget."

Shabibi added, that "the central bank has the right to intervene in the development processes of investment projects through, inter alia, issuing money orders treasury."

And discussed the meeting on Tuesday, the subject of the government's intention to borrow from the Central Bank the amount of five billion dollars to supplement the general budget for the year 2011, the meeting also discussed the issue of investment plans for next year and appointments made in the budget law, as well as projects for the development of regions and raise the standard of living of citizens in the provinces.

http://www.alsumarianews.com/ar/3/15...-details-.html

Names of members of the new government

Nuri al-Maliki as Prime Minister with his acting of the three security ministries, Defense and Interior and National Security.

- Rose Nuri Shaways Deputy Prime Minister and Acting Minister of Commerce.
- Hussein al-Shahristani, deputy Prime Minister and Acting Minister of Electricity.
- Saleh al-Mutlaq, a deputy prime minister.
- Rafie al-Issawi and Minister of Finance
- Hoshyar Zebari, Minister of Foreign Affairs and Minister for Women's Affairs Agency.
- Abd al-Karim Allaibi oil minister.
- Ali al-Adeeb, Minister of Higher Education and Scientific Research and Minister of State for national reconciliation by proxy.
- Hadi al-Amiri Minister of Transport .
- Mohammad Tameem, Minister of Education .
- Izz al-Din State, the minister of agriculture.
- Jassim Mohammed Jaafar, minister of Youth and Sports.
- Hassan al-Shammari and minister of justice.
- Mohamed Tawfiq, Minister of Communications.
- Nassar al-Rubaie and Minister of Labour and Social Affairs and Acting Minister of Planning.
- Mohammed's Darraji Minister of Housing and Public Works Agency.
- Ahmad Nasser Al-Daly, Minister of Industry.
- Majid Hamad Amin, minister of health.
- Muhammad Saadi, a minister of water resources.
- Abdul Karim al-Samarrai and minister of science and technology.

- Turhan appearance and Minister of State for Provincial Affairs.

- Bushra Hussein Saleh, Minister of State.
- Hassan, Minister of State in force.
- Abdul-Mahdi Hassan Al-Mutairi and Minister of State.
- Brigade Sumaisem Minister of Tourism and Antiquities.
- Ali Alsjeri Minister of State for Foreign Affairs.
- Saadoun al-Dulaimi and the Minister of Culture.
- Sargon Lazar Saliop minister of the environment.
- Mohamed Shia'a Sudanese Minister for Human Rights.
- Dindar Ndjeman Shafik, Minister of Displacement and Migration and the Minister of State for Civil Society Affairs Agency.
- Purity of net debt and the Secretary of State for Parliamentary Affairs.
- Muzahim Salah Darwish, Minister of State.
- Yasin Hassan Mohamed, Minister of State.
- Ali al-Dabbagh, Minister of State and government spokesman .

http://www.afkarhura.com/index.php?o...kbar&Itemid=21

Familiar faces guide Iraq's oil plans

News that Iraq's oil minister has been promoted and his deputy has his old job provides a degree of certainty for foreign firms anxious contracts will be honoured and could leave the most intractable issues unresolved.

Named on Tuesday as deputy prime minister for energy, Hussain al-Shahristani as oil minister oversaw contracts that could boost Iraq's production capacity to 12 million barrels per day (bpd) in the next six-to-seven years and place it on a par with leading exporter Saudi Arabia.

He also acquired a reputation for fraught relations with the semi-autonomous region of Kurdistan, which lays claim to oil-rich Kirkuk, and for declaring illegal contracts the Kurdistan Regional Government has signed with foreign companies.

His deputy Abdul Kareem Luaibi, now minister, avoided the kind of head-on clashes Shahristani experienced, while still playing a major role in the negotiations with international oil companies (IOCs).

"From an IOC perspective, it is somewhat akin to the status quo, business as usual," said Raad Alkadiri of PFC Energy.

"But who is minister is just the first step. What will determine the relative success or failure of the slate of projects will be how effective the government turns out to be."

Together with other analysts, Alkadiri took the view that Shahristani would have only accepted his new job on condition he retained overall control of oil, which provides around 95 percent of Iraq's budget revenues.

Its development is crucial to Iraq's future, but many question whether Iraq can reach its 12 million bpd target and also whether it should in the medium term, given the possible strain on oilfields and existing infrastructure.

The consequences of too rapid an output increase from current levels of roughly 2.5 million bpd could be a fall in the oil price, as well as strained relationships with other members of the Organisation of the Petroleum Exporting Countries, led by Saudi Arabia.

Within Iraq, the tension is with Kurdistan, which has signed around 40 production and exploration contracts with IOCs, rejected by Shahristani as unconstitutional.

The dispute has halted exports from Kurdish oilfields, although both Shahristani and Kurdistan Regional Government Minister for Natural Resources Ashti Hawrami have said exports could resume next year.

Although Shahristani retains overall control, some analysts say Luaibi might manage to heal the rift with Kurdistan.

"Luaibi has been the main intermediary when there have been talks between the oil ministry and the KRG," said Samuel Ciszuk of IHS Energy. "One could see him as someone the Kurds can at least stomach."

Initial signs from Kurdistan were positive. Ali Hussain Balou, a top adviser of the Kurdish natural resources ministry, welcomed the appointment of Luaibi, an oil engineer who worked his way up through the ministry's ranks.

"We think this will contribute remarkably to resolving oil-related issues with the central government," Balou said. "For us, it's better to deal with Luaibi because he's a professional oil guy and not a politician.

"Having Luaibi as oil minister is better for us but resolving problems with central government will take a long time."

Luaibi told Reuters on Tuesday he intended to meet with the Kurds to try to resolve differences but gave no time frame for such a meeting.

Esam al-Chalabi, a former Iraqi oil minister, was doubtful the strained relations between Arbil and Baghdad could be quickly resolved.

"It's difficult to see a breakthrough ...Luaibi is preferred by Kurds, but he's not the person to solve major problems with Kurds," he said. "Eventually, the Kurds must submit to the fact that Shahristani is still powerful and has a say in the oil dispute with Baghdad."

http://www.arabianbusiness.com/famil...ns-369013.html

Seasons Greetings,

Hope everyone has a great holiday and we all get what we have been patiently awaiting. lol

Success to all, Mike

Originally Posted by Offshore-Wealth.com

Seasons Greetings,

Hope everyone has a great holiday and we all get what we have been patiently awaiting. lol

Success to all, Mike

the same to you Mike...what is your take on what has happened the past month??...seems we are getting closer don't you???....i would like your input....GO DINARS...Pat

Originally Posted by bigopie

the same to you Mike...what is your take on what has happened the past month??...seems we are getting closer don't you???....i would like your input....GO DINARS...Pat

Hi Pat,

We have seen more progress in this past month than in the previous six plus years, so yes, I am hopeful they finally have their act together, and this even amazes me more. lol Knowing what we have been through after all these years, we all may just finally get what we have been waiting for. Although my main source of info. is home to U.S. for holidays, he says yes, it has to happen in next month at most, so expect it in late Jan. for what it is worth. Proven oil reserves will be announced then and it will blow the socks off the oil industry, so with rising oil prices well above budgeted levels previously defined, I suspect reserves issue will become a non issue in Jan. as new budget is finalized for year. Should be interesting.

Happy Healthy Wealthy New Year to all, Mike

Thanks Mike...that is good news indeed if it happens ...it has been a long,adventuresome,and frustrating ride with these Iraqi's hasn't it...lol....i think that will make it all the more worthwhile..good health to you ...GO DINARS...Pat

ECO and its future as a non-Arab regional bloc
http://www.middle-east-online.com/english/?id=43252
Iraq’s integration within a non-Arab regional bloc may ring the alarm bell for conservative Arab sheikdoms in the Persian Gulf region as it highlights further alienation of Iraq from these countries due to their antagonistic policies toward the post-conflict democratic Iraq, says Abolghasem Bayyenat.


Middle East Online

The Economic Cooperation Organization (ECO), comprising Iran, Turkey, Pakistan, Afghanistan and six Muslim former Soviet republics, recently held its latest summit meeting in Istanbul, Turkey, where President Ahmadinejad handed over the rotating presidency of this regional organization to President Abdullah Gul of Turkey. ECO is a low-profile regional economic integration organization, headquartered in Tehran, which was originally founded by Iran, Turkey and Pakistan. Following the collapse of the Soviet Union, ECO expanded its membership to the Muslim Central Asian republics of the former Soviet Union as well as Afghanistan. ECO has so far gained modest achievements in the area of commercial and economic cooperation among its members despite a plethora of preferential commercial and economic agreements signed among its member states over the past two decades.

The three founding members of ECO act as the key players of this regional organization as most of the acceded members still remain uncertain about the benefits of deeper regional integration within ECO. Turkey’s role in ECO is primarily driven by its interests in gaining preferential access to the markets of other member states, a fact which explains why it is the major driving force behind trade liberalization in the ECO region. Iran initially weighed political benefits from regional integration under ECO more heavily in its calculations than its potential economic gains, as it provided Iran a break from isolation by its hostile neighboring Arab countries in the 1980s. After the collapse of the Soviet Union, Iran has also viewed ECO as a framework for promoting its geopolitical position as a transit route for the land-locked Central Asian republics. Increased international diplomatic pressure on Iran over its nuclear program in recent years has increased the political stake of ECO in Iran’s eyes.

Two major developments are particularly noteworthy about the latest ECO summit held in Istanbul. First, the attendance of Iraqi president Jalal Talabani as the head of a non-member state at the ECO summit was a new development for this regional grouping. Talabani’s attendance makes particular sense in light of the fact that Iraq has officially applied for membership in ECO. Membership of Iraq in ECO would mark a break from the non-Arab identity of this regional organization and would pave the way for the membership of some other Arab countries in this organization. In light of the geographical interconnectedness of Iraq with other key ECO member states, ECO would serve as a natural setting for the regional economic integration of Iraq . Iraq’s integration within a non-Arab regional bloc may ring the alarm bell for conservative Arab sheikdoms in the Persian Gulf region as it highlights further alienation of Iraq from these countries due to their antagonistic policies toward the post-conflict democratic Iraq and their reluctance to accept Iraq in the (Persian) Gulf Cooperation Council. Regardless of regional reactions, by seeking membership in ECO, Iraq has taken a major step in using regional capacities to promote its national interests.

The second major development highlighting the latest ECO summit in Istanbul, is the continued lukewarm attitude of most Central Asian republics toward deeper economic integration within ECO, as demonstrated by their low-level presence at this meeting. Apart from Azerbaijan and Tajikistan, none of the remaining Central Asian members of ECO participated at the head of state level in this meeting. This fact just further highlights these countries’ uncertainties about potential economic gains from deeper economic integration in the ECO region. Their lukewarm attitude is driven by their fear that deeper economic integration, promoted as the main objective of ECO, would leave their domestic markets at the mercy of the more competitive producers of key ECO member states, primarily those of Turkey and to a lesser extent Iran and Pakistan.

Despite the lack of enthusiasm shown on the part of several small members of ECO toward further regional integration, diverse incentives hold the member states of ECO together on the path to further regional cooperation. Future membership of Iraq would give a momentum to this regional organization and would open new avenues for cooperation among its member states. Given their geographic locations, Syria and Armenia can also serve as other natural potential candidates of membership in ECO, even though the membership of Armenia would face serious political obstacles on the part of Azerbaijan and Turkey in the event of its application. Notwithstanding challenges facing deeper economic integration within ECO, this regional organization has the potential of developing into a more formidable regional block, thus providing its members with a larger bargaining power vis-à-vis other regional and global economic blocks in the future.

Talabani invites top Turkish businessmen to Iraq
http://www.hurriyetdailynews.com/n.p...raq-2010-12-26

Iraqi President Jalal Talabani has invited the Turkish Union of Chambers and Commodities Exchanges, or TOBB, to his country, saying that he wants more Turkish investments.

Rifat Hisarcıklıoğlu, the TOBB president, held a meeting with Talabani on the sidelines of the 11th Summit of the Economic Cooperation Organization, held in Istanbul’s Çırağa Palace last week. During the meeting, Talabani noted that 600 Turkish companies have done business worth $8 billion in Iraq, adding that the airports in Arbil and Sulaimania, plus the Sulaimania University were built by Turkish companies.

“Talabani wanted more investment and trade from Turkey,” Hisarcıklıoğlu told Anatolia news agency. “He also said the bilateral trade volume should be increased to $20 billion in a short period of time.”

The Iraqi president urged TOBB members to form a delegation to visit Arbil, Sulaimania, Mosul, Kirkuk, Baghdad, Najaf and Basra, meeting with officials of the government, local administrations and businesspeople. Hisarcıklıoğlu recalled that TOBB had staged a visit to Baghdad in February 2004, despite tough security conditions.

“We have modernized the Habur border gate, increasing its procession capacity,” Hisarcıklıoğlu said. “However, our trucks passing to Iraq cannot go beyond Zaxo due to security reasons. There still are security concerns about taking goods to Baghdad, Najaf and Basra.”