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trident

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  1. Great article, me thinks..
  2. this post don't smell right...imo
  3. "There is an Iraqi agreement with international bodies, including INTERPOL, to fight corruption and money laundering, so I expect that the coming days will see clear accountability for corrupt senior bankers, A number of ministers fleeing, including former defense ministers Hazem Shaalan, Abdul Qadir al-Obeidi and former ministers of electricity Ayham al-Samarrai and Karim Wahid. " "The size of thefts caused by these people to public money in Iraq amounted to 320 billion US dollars."
  4. Iraq calls on investors to help $100 billion reconstruction drive Yara Bayoumy, Dmitry Zhdannikov DAVOS, Switzerland (Reuters) - Iraq called on Thursday for foreign investors to help it rebuild after defeating Islamic State and making progress in reuniting the country, saying it would need up to $100 billion to fix crumbling infrastructure and war-torn cities. Iraqi Prime Minister Haider Al-Abadi speaks during a joint news conference with French President Emmanuel Macron (not seen) at the Elysee Palace in Paris, France, October 5, 2017. REUTERS/Ludovic Marin/Pool/File Photo Prime Minister Haider al-Abadi said help was needed with dozens of projects, as Iraq prepares for a major donors conference in Kuwait next month, which will be held together with the World Bank. “It’s a huge amount of money. We know we cannot provide it through our own budget,” Abadi told the World Economic Forum in Davos, Switzerland. “We know we cannot provide for it through donations, that’s almost impossible. So that’s why we (have) now resorted to investment and reconstruction through investment. This is a way forward and we can achieve it,” he said. Abadi came to Davos in 2016 and pledged to defeat Islamic State before the end of that year. He didn’t come in 2017 as the war on militants took longer than anticipated, although he declared full victory at the end of last year. This year, Abadi has made efforts to resolve a crisis in relations with the country’s semi-autonomous region of Kurdistan, which voted for independence in a referendum last year that was not recognized by Baghdad and has had to surrender major oilfields and chunks of territory to Iraqi troops. He said he had met twice already this year with Kurdish Prime Minister Nechirvan Barzani, adding Barzani had agreed to hand over oil to federal firm Somo while Baghdad and Erbil discuss the exact level of budget transfers. Erbil started independent oil exports several years ago, accusing Baghdad of not transferring enough money from the federal budget, while Baghdad accused Erbil of not producing and transferring enough oil. The balance of budget allocation versus oil remains the main sticking point in discussions between Baghdad and Erbil and Barzani said on Thursday nothing had been agreed. “This is far from the truth, we didn’t discuss this issue in the first place,” Barzani said, according to Kurdish news agency Rudaw. BALANCING BETWEEN U.S. AND IRAN Abadi acknowledged Baghdad’s tough balancing act when seeking military or economic support from Washington and Tehran. He also said Saudi Arabia was increasingly interested in building relations with Iraq and warned against an escalation of tensions with Iran. “Any change in relation between the U.S. and Iran is harmful for us, is harmful for the region. It means there will be some conflicts, some friction somewhere, and Iraq will not be immune from that,” Abadi said. U.S. President Donald Trump has taken a hawkish stance on Iran and threatened to pull out of a 2015 nuclear deal agreed between Tehran and world powers. Iranian foreign minister Mohammad Javad Zarif has skipped the Davos forum for the first time in many years, pulling out of the program soon after Trump announced his plans to attend. As Trump arrived in Davos on Thursday, Zarif tweeted: “It was Iran who helped the people of Iraq and Syria defeat ISIS (Islamic State), and it was the U.S. and Saudi Arabia who armed it.” Abadi said he asked all sides to keep their differences away from Iraq when helping the country. He also said Iraq, the second largest oil producer in OPEC, would stick to the group’s output cut agreement as it needed a stable price to rebuild its economy. Reporting by Dmitry Zhdannikov and Yara Bayoumy; Editing by Mark Bendeich and Mark Potter Our Standards:The Thomson Reuters Trust Principles. Sponsored
  5. Guests of the IBBC’s Annual Cumberland Lodge Retreat The Iraq Britain Business Council brings together business, trade and investment, for the benefit of the Republic of Iraq and its members. It is a powerful network of some of the most important global corporations as well as key Iraqi and British companies and trade chambers and enjoys the highest-level of support from governments and the European Union. Committed to a free, prosperous and diverse Iraq, IBBC has created extremely strong relationships to benefit business, industry and the people of Iraq. IBBC is fully supported in its goals by the Iraqi Government, and its National Investment Commission. IBBC is more than a business initiator. It promotes best practice and international standards as well as transferring technology and know-how. IBBC, funded privately by its members, operates through independent secretariats in London, Baghdad, Basrah and Erbil. In addition to frequent Founder Members’ Board, bi-monthly Business Council, and Sector Table meetings, yearly IBBC Events include: 2 major conferences in London. 3 major conferences in Iraq. An annual weekend retreat is held in locations including Cumberland Lodge in Windsor or Wilton Park, West Sussex, where invited speakers add to a discussion about a topic of relevance. Round-table dinners and receptions – up to eight a year – are held at venues including the House of Lords and London’s Reform Club. Occasional seminars and study groups on subjects of high value – such as the fight against corruption and the impact of the Bribery Act. Frequent trade delegations are arranged, varying in location between Baghdad, Basrah and Erbil. The IBBC attends and supports events organised by member companies including conferences from which reports are compiled and circulated. The IBBC also frequently receives high level Iraqi delegations including senior ministers and officials. In addition the IBBC regularly meets and is involved in round table discussions with UK Government ministries and bodies including the Foreign and Commonwealth Office, UKTI, UK Border Agency and Export Credit Finance. Our work also includes taking up specific issues on behalf of member companies with senior British and Iraqi officials. http://www.webuildiraq.org/our-work/
  6. i find it hard to believe the misprint theory dollar/dinar....more likely deliberate....time will tell...hope i'm right!
  7. Hate to be a downer...but found this... see highlighted text in red.. The Iraqi economy is facing severe and pressing challenges. The decline in oil prices in 2015 and 2016 and the ISIS insurgency have contributed to a sharp deterioration of economic activity and have rapidly increased the fiscal and current account deficits. Macroeconomic risks remain elevated due to Iraq’s continued exposure to a volatile oil market, but the medium-term outlook seems more favorable, thanks to an expected increase in oil prices in 2017 and important gains against ISIS. The government is facing the challenge of maintaining macroeconomic stability, undertaking structural reforms to improve the delivery of public services, reconstructing core physical infrastructure in the areas liberated from ISIS and assisting the 3.4 million people displaced by the conflict. The double shock has severely dented growth, diverted resources away from productive investment, and increased poverty, vulnerability and unemployment. Private consumption and investment remain subdued due to an unstable security and political situation and a poor business environment. The non-oil economy contracted by almost 14 percent in 2015 following a 5 percent fall in 2014. After slowing at 0.1 percent in 2014, Iraq’s economy grew by 2.9 percent in 2015 on the back of about 19 percent increase in oil production, as the vast majority of Iraq's oil fields are beyond ISIS’s reach. Growth in 2016 is expected to further increase to 4.8 percent, sustained by an increase in oil production, but non-oil GDP is expected to contract by 8.2 percent, due to low demand driven by continued fiscal consolidation. Inflation rate is expected to remain low at 2 percent in 2016, with the government subsidizing electricity, food and fuel, but is likely underestimated in ISIS-occupied areas. The shocks have also deteriorated the country's fiscal and external balances in 2015 and 2016. Low oil prices have sharply reduced oil revenues, which decreased by about US$35 billion in 2015 compared to 2014. Despite the government efforts to prioritize expenditure, low oil revenue coupled with high humanitarian and security spending have rapidly widened the budget deficit which reached 13.5 percent of GDP in 2015 and the current account deficits which has turned into a deficit of 6.1 percent of GDP in 2015 form a surplus of 2.7 percent of GDP in 2014. Due to persistent low oil export prices in 2016 (which are expected to average $ 35.5 a barrel, $10 lower than in 2015), the fiscal deficit is estimated at 12 percent of GDP in 2016. Weakness of oil exports and large import needs also to maintain develop oil infrastructure would further widen the current account deficit to 11 percent of GDP in 2016. Given Iraq’s severe challenges and substantial financing needs, the IMF approved a three year Stand-By Arrangement in July 2016 for US$5.34 billion. In parallel, the World Bank has started a series of three DPFs to span over three years, the first (USD1.2 billion) delivered in December 2015, the other two (1 billion USD each) planned for December 2016 and December 2017. On July 20, 2016, a donor conference co-hosted by the US Government pledged a total of US$2.1 billion for 2016-2018, with the aim of securing financial support for Iraq’s humanitarian crisis. The resumption of the production sharing agreement between the federal government and the Kurdistan Regional Government (KRG) in August 2016 will help KRG address its growing fiscal crisis. Iraq continues to face severe security challenges. As a result of the ongoing conflict, the death toll continues unabated, with casualties reaching 20,169 in 2014―the most since 2006 and 2007 when the violence killed an average of 27,744 Iraqis―17,502 in 2015 and 10,497 since the beginning of 2016. The widespread insecurity since 2014 has also led to major humanitarian crisis with 10 million people in need and over 3.4 million persons internally displaced. The population remains extremely vulnerable to the ongoing security problems and reduction in oil prices. The standard of living has deteriorated and a noticeable share of the population has fallen into poverty or is extremely vulnerable to falling into poverty. Poverty, as estimated by the Iraqi government reached 22.5 percent in 2014 nationwide; and in the ISIS-affected governorates, the direct impact of economic, social and security disruptions are estimated to have doubled poverty rates to 41.2 percent. Iraq has one of the lowest employment-to-population ratios in the region, even among men, and the 2014 crisis has led to an estimated reduction in employment by 800,000 people. The Public Distribution System provides the only safety net for the vast majority of the poor, and is currently stretched to its limits. Many IDPs received a one-time cash grant of ID 1 million per month in 2015, but the 2.8 million new poor are left largely uncovered by any public safety net. However, Iraq in April 2016 launched a new poverty targeting program aimed at reforming the social security network toward improving its targeting efficiency. Last Updated: Oct 01, 2016 Source...http://www.worldbank.org/en/country/iraq/overview
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