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Kuwait calls on countries participating in the conference to rebuild Iraq to fulfill their obligations


yota691
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1 hour ago, ChuckFinley said:

Really,  these guys are unreal. Billions of dollars stolen and they are asking for debt forgiveness.  :facepalm1:

 

 

 

Heres how the conversation went Chuck... “Hey I know we owe you a bunch of money. We have bunch of Dinar that is worthless, but here in the near future it is going to be worth a BUNCH! So, you forgive our debt that we owe you and we will give you truckloads of Dinar. As soon as we RV the dinar, you will then have 3 times what we owed you. Sound good? Ok great!! Sign here. Press hard, 3 copies!” 

 

Problem solved. Everyone is happy!! 

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7 minutes ago, Jaygo said:

 

 

Heres how the conversation went Chuck... “Hey I know we owe you a bunch of money. We have bunch of Dinar that is worthless, but here in the near future it is going to be worth a BUNCH! So, you forgive our debt that we owe you and we will give you truckloads of Dinar. As soon as we RV the dinar, you will then have 3 times what we owed you. Sound good? Ok great!! Sign here. Press hard, 3 copies!” 

 

Problem solved. Everyone is happy!! 

The scary part is I can see that happening.  :lol:

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Abadi: We will launch post-election reconstruction efforts

Translated by Hamid Ahmed

More than six months after the government announced the defeat of an oppressive organization and its expulsion from Mosul and the rest of Iraqi territory, the country is now on the road to reconstruction efforts.

Although efforts to rebuild the country are still in their early stages, Prime Minister Haider al-Abadi described the progress made at last week's Kuwait International Conference on Iraq Reconstruction as "encouraging" and evidence of the international community's confidence in Iraq. 
"We never expected that number of companies, investors and governments to be involved in Iraq reconstruction projects," Ebadi said in an interview with CNBC as he attended the security conference in Munich. It is a sign that there is confidence to deal with Iraq. "There is confidence that Iraq is moving in a different direction from the past and it is very encouraging for us and also for them."
The conference, which was hosted by Kuwait, attracted representatives from more than 70 countries, 51 companies, international organizations and several hundred businessmen. The International Donor Conference has made $ 30 billion in investment pledges in a scene that reflects international support for stabilizing Iraq. The government is focusing on reconstruction efforts and the return of more than 900,000 people to neighborhoods destroyed after years of fighting, less than three months away. On the conduct of elections. Relief organizations estimate that Mosul alone needs a decade of years to get rid of remnants of IEDs and explosive materials left behind by the war. 
Iraqi officials said Iraq needed $ 88.2 billion to cover the cost of reconstruction. They noted that the Kuwait conference had only a $ 30 billion financial commitment far below the figure they had set, but Abadi described it as a very positive amount he did not expect.
"It is natural for anyone to aspire to more, but what we got was more than we expected, for the simple reason that oil prices are lower than they were before, and most of the Gulf states suffer from financial crises, and it is normal that the donor does not do so, So much generosity ... what we got indicates that there is confidence in Iraq. " 
While the security situation has improved, many investors remain concerned about the country's rampant corruption and the bureaucracy that hampers their work. 
When asked about the way the government will reassure investors that their money will be spent in the right place, the prime minister stressed his focus on fighting corruption.
"We have put before the investors all the legal framework ... I think their concern is about corruption, mainly bureaucracy and routine, and in our role we have formed a supreme committee headed by the prime minister and has a follow-up team to ensure the removal of any obstruction caused by bureaucracy," he said. That this would be a great asset to companies, sometimes they are forced because of pressure to pay bribes or something like that. We are keen to stay away from this and want to pour every dollar into an investment or a donation for the benefit of the people and not go into the pockets of the corrupt. "
"We are now engaged in the process of involving investors in Iraq reconstruction projects. I am sure that in the next few months the start will be complete," Abadi said. "We now have a committee that has been formed. And next month there will be a meeting with major investors for the purpose of follow-up and submit their studies .. I hope they will start their work immediately after the elections. " 
عن About: CNBC US station

 

https://www.sotaliraq.com/2018/02/20/العبادي-سنطلق-جهود-إعادة-الإعمار-بعد-ا/

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20-02-2018 12:33 PM
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The Kuwait Economic and Investment Committee on Tuesday called for a "conspiracy" against Iraq by the Kuwait Conference on Iraq Reconstruction last week, noting that the conference is binding Iraq with large debts that will be suffered by generations . 

"Kuwait would have preferred to waive its debts due to the invasion of Iraq by the former regime," MP Harith al-Harthy said. "Kuwait's money was not met with the consent of its people .

Al-Harithi said that "the Kuwait conference is a conspiracy to drain Iraq economically, by pledging to the World Economic Organization over many years, where the next generations will suffer from the debts of Iraq," adding that "the solution lies in leaving loans and not rely on investment companies, The areas destroyed by Iraqi arms without tying Iraq more debt .

 

"The United States did not provide anything to Iraq during the reconstruction conference in Kuwait, which reveals their intentions to launch an economic war against Iraq after the war against terrorism ends," al-Harthy said .

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Economist for / Mawazin News /: This is what will do sovereign loans in Iraq

 

 Since 2018-02-20 at 13:05 (Baghdad time)

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Special - Mawazine News

Dhargam Mohammad Ali, a senior economist, described Tuesday the sovereign loans Iraq has received as "the worst kind" of loans because it is holding back the economy of the countries, pointing out that Iraq does not need them.

"Sovereign loans are one of the worst types of loans because they are holding back the economies of the countries and their wealth if the repayment is delayed," Ali said in an interview with Mawazin News.

"It is possible to direct Iraq's resources in such a way as to secure amounts equal to these loans over the next three years for serious reconstruction and to combat administrative and financial corruption," he said.

It is noteworthy that Iraq received during the donors conference in Kuwait sovereign loans of $ 15.5 billion, through ($ 1 billion Kuwait, $ 5 billion Turkey, $ 1 billion Saudi Arabia, $ 1 billion Qatar, $ 250 million UAE, $ 1.5 billion fund Arab Development Bank, $ 500 million Islamic Development Bank, $ 260 million Italy, and $ 6 billion World Bank.

Sources in the media revealed that these loans granted to Iraq at the Kuwait International Conference are non-binding pledges to the donor, but are written commitments, but they are not binding, according to the data contained in the final recommendations.

 

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Tuesday 20 February 2018 2:25 pm

| Number of readings: 18

Al-Hiti: The loans of the Kuwait Conference are soft and thus the loan of the World Bank will be repaid

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The director of the fund for the reconstruction of the areas affected by terrorism, Mustapha al-Hiti, said Tuesday that the loans received by Iraq during the Kuwait conference are soft loans, indicating that the loan of the World Bank is divided over 15 years at a rate of 1.5 percent.

 

"The World Bank loan received by Iraq at the Kuwait conference of $ 6 billion begins to be ready after 5 years of granting the loan and is divided over 15 years at a rate of 1.5 percent. During this period, if inflation occurs in the dollar, The ratio, and therefore this loan compared to the provision of the country of reconstruction and the opening of projects and the return of displaced people is nothing. "

 

He added that "all the loans obtained by Iraq during the Kuwait Conference are soft loans and are repayable at long distances, pointing out that" the investment companies will do a great job in Iraq through the re-maintenance and rehabilitation of the industrial role and companies as well as self-financing factories that weighs the state salaries and will bring these Companies are big hands. "

 

The commitments of the countries participating in the Kuwait conference for the reconstruction of Iraq amounted to 30 billion dollars on the third and final day, and this aid will be in the form of loans and credit facilities and investments to Iraq to rebuild what was destroyed by the war.

 

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Saudi policy renews position from Iraq

Saudi Arabia renews position on Iraq
 
 Twilight News    
 
 56 minutes ago
 

 

Shafaq News / The Saudi cabinet on Tuesday expressed his country's keenness on the stability of Iraq and its permanent standing with all its sects and races.

This came during a meeting of the Council this afternoon under the chairmanship of Saudi King Salman bin Abdul Aziz Al Saud.

Saudi Arabia's minister of culture said after the meeting that Saudi Arabia allocated $ 1 billion to reconstruction projects in Iraq and allocated $ 500 million to finance Saudi exports to Iraq during the recent Kuwait International Conference on Iraq Reconstruction.

 

 
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They’ve said several times last year and again this year. Art.140 - HCL - Budget & the ever elusive RV have yet to occur. Implement these and the world might actually begin to think you’re a wee bit serious. 

 

These folks think that saying a thing makes it so. NOPE ! Big Dummies 

Edited by 10 YEARS LATER
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8 hours ago, yota691 said:

sovereign loans Iraq has received as "the worst kind" of loans

 

8 hours ago, yota691 said:

pointing out that Iraq does not need them

 

8 hours ago, yota691 said:

It is possible to direct Iraq's resources in such a way as to secure amounts equal to these loans over the next three years for serious reconstruction

 

The conference was probably just a PR ploy. Iraq has 154 billion barrels of proved reserves, ( about 15 trillion dollars at $100/barrel)

A GOI minister has stated that with additional exploration this total will easily double.

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Minister Plenipotentiary of the Economic Section at the US Embassy Larry Mimoth «Economy News»

  

 Interviews


Economy News Baghdad:

The Minister of Economic Affairs at the US Embassy, Larry Mimoth, that the reconstruction conference of Iraq has been successful after the pledges made by the States, amounting to 30 billion dollars, adding that the Iraqi government promised investors at the Kuwait Conference to facilitate their work, considering the project to settle the salaries of the public sector in banks step Successful.

"The Kuwait conference on reconstruction of Iraq has achieved great success, and the pledges made by Iraq of 30 billion dollars can contribute to the development of the economy and growth, and these funds are the beginning of the reconstruction of Iraq for ten Years, stressing that these countries can not retreat from their pledges.

He said that "more than 200 American companies participated in the conference, Iraq is currently working in Iraq and some of them do not have business, and expressed their desire to invest in Iraq and participate in reconstruction," noting that "Iraq and America signed credit facilities worth 3 billion dollars to establish a power generation project Electricity through solar energy and gas investment associated with the production and development of the electrical sector of Iraq. "

He pointed out that "the World Bank estimated the reconstruction of Iraq by 46 billion dollars and that the financial pledges to rebuild Iraq amounted to 30 billion dollars, which is a preliminary payment for the development of the economy," explaining that "a great desire for investors to work inside Iraq, but some of them are waiting for reforms by the government Especially as the government has shown its commitment to enter the New York Convention and facilitate the granting of visas to investors. "

He added that "the government promised at the Kuwait conference to implement the one window that will be a gateway to help investors and finish the procedures they need." He stressed that "the Iraqi private sector is besieged by the government, but must be the solution to build the Iraqi economy and meet the challenges.

He added that "foreign companies have no difficulty in transferring their funds to and from Iraq, but this problem is faced by Iraqi businessmen and entrepreneurs," noting that "government banks do not give the opportunity to work for private banks while there are ongoing talks with the government to reform this situation and began Through the project to settle salaries for public sector employees. "

He pointed out that "the experience of the Central Bank in the settlement of salaries at private banks is a successful step and this will expand in the coming period to include a number of ministries and thus millions of Iraqis will open bank accounts," stressing that "the IMF program with the Iraqi government includes the restructuring of the bank, .

He pointed out that "cooperation between Iraqi banks and global correspondent banks, needs time, and it is up to the Iraqi banks through the application of compliance standards and help them in the field of training and development of their capabilities, but remains the option for foreign banks in dealing with Iraqi banks.


Views 275   Date Added 21/02/2018

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Information / Baghdad ..

The leader of the Islamic Dawa Party, Jassim al-Bayati, on Wednesday, expressed "deep disagreement" between Prime Minister Haider al-Abadi and the Union of Forces because of the Kuwait conference, pointing to the existence of "disappointment" by the government and the Union because of the outcome of the conference.

 "There is disappointment by the government and the Union of Forces to obtain sufficient grants for the reconstruction of the liberated provinces, which caused a deep dispute between them, which reflected negatively on the ongoing discussions on the budget," Bayati said in a statement.

He added that "the Union of Forces agreed to pass the budget in the hope of obtaining large amounts for the ages of the liberated provinces of the Kuwait Conference," noting that "the Union declined its approval after the disappointment suffered by the Kuwait conference and not collect enough funds."

"The difficulty of passing the budget under the objections of the Kurds and Sunnis on the draft law sent to the government and the preoccupation of most of the National Alliance deputies in the upcoming elections." Ending / 25 d

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  • yota691 changed the title to Declaration of legal partnership between Iraq and Kuwait
 
  
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Information / Baghdad ..

Kuwaiti lawyer Mohammad Dhar al-Otaibi announced on Thursday a Kuwaiti-Iraqi legal partnership to exchange expertise and legal services.

Al-Otaibi said in a statement to Kuwait's Al-Anbaa newspaper that a bilateral agreement was signed with Siraj Legal Justice Company, one of the largest legal centers in Iraq, headed by lawyer lawyer Mohammad Kazem Mal Allah Al-Otaibi. Russia and Britain ".

He added that "after the start of the Kuwait International Conference for the reconstruction of Iraq and the efforts we have seen from our state Kuwait to support and adopt the principle of human reconstruction and development, this has motivated us to participate as a private sector in this support and benefit from legal expertise between the two countries and provide assistance Whether governmental or private sectors. "

 "Through this partnership, awareness will be given to companies and investors from the two countries and legal awareness in all commercial transactions, especially the laws and decisions governing the two countries," Al-Otaibi said. Ending / 25

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Information / Anbar ..

The Anbar provincial council said on Wednesday that it had put the country under the guardianship of the capital for many generations, stressing that the conference had gone out of its way to help Iraq rebuild the infrastructure destroyed by military and terrorist operations.

"The results of the donor conference in Kuwait are disappointing after the conference turned from donors to the conference of lenders and investors on terms that put the country under the precepts of capital owners for many generations," council member Farhan Mohammad al-Dulaimi told Al-Maaloumah.

Al-Dulaimi said that "the Kuwait conference deviated from the course that was held for it and that its results did not address the country's rates of large destruction of infrastructure as a result of the destruction by the gangs to encourage crime," noting that "the Iraqi government is the conditions for investors after providing what Guarantee their rights and not the establishment of companies and fund owners to set their conditions. "

He pointed out that "the hopes for the outcome of the conference has been dispelled and did not come out of the conference only decisions in favor of investment companies without taking into account the difficult economic situation in the country as a result of the destruction of infrastructure in different provinces." Ending 12 /

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Iraqis trying to repair damaged homes (Ahmad Mowaffaq / AFP)Mirage reconstruction aid: Iraq launches loans to build destroyed homes
 
 
 

Aid mirage: Iraq launches loans to build destroyed homes

 
Baghdad - Ahmed al-Nuaimi

23 February 2018

 
  •  

The Iraqi government has launched  loans to citizens to help them rehabilitate their destroyed homes in the liberated cities of the Da'ash organization, which is a declaration of failure of  the donor conference for the reconstruction of Iraq in Kuwait to meet the minimum pledges announced, according to economists of the "New Arab" economy. 

Total home-building loans are expected to amount to  about $ 5 billion amid fears that the government's decision will become a prelude to evading compensation for the population, thereby exacerbating their financial burdens, hampering the return of many displaced people to their cities. 

The Iraqi government announced in a statement yesterday, the launch of new loans aimed at citizens for the rehabilitation of housing units affected by terrorist operations and military cities liberated from Dahesh.

The Secretariat of the Iraqi Council of Ministers said in the statement that the Council decided to release loans to citizens with the aim of building or rehabilitating housing units damaged by terrorist and military operations. 

The General Secretariat of the Council of Ministers added that the Ministry of Finance will bear the amounts of the benefits of those loans for the first five years, and that the approval of the loans will be accompanied by the approval of the competent compensation committees. The Ministry of Finance will prepare instructions to facilitate implementation of the decision in coordination with the Ministry of Construction, Iraq.



The engineer said committee compensation Anbar is harmful to the province of Abd al -Rahman al- Rawi Evaluator said that " the launch of the Iraqi government loans to citizens in the affected cities as a declaration of the failure of the reconstruction conference in theachievement of the minimum grants to compensate citizens or rebuild their homes in theliberated towns north and west of the country. 

He added the narrator's " The new Arab": "this means that the Iraqi government realized that waiting for the promises or the arrival of companies to invest not feasible, and with the impossibility of the survival of the problem of housing for citizens destroyed their homes and the lack of sufficient funds provide the state to compensate them launched such loans." 

comes these loans days that after Kuwait conference led to the reconstruction of Iraq , which is considered by members of the Iraqi parliament, politicians and observers that he did not achieve the minimum aspirations of Baghdad , according to their expression.

The Iraqi Ministry of Planning announced at the Kuwait Conference, which ended last Wednesday, about the need for Iraq to about 88 billion dollars to rebuild cities and north and west of the country and return to life, but the conference reached pledges of about 30 billion dollars only, mostly sovereign loans, The grants are about $ 1 billion and $ 800 million, mostly on terms from Arab, Western and international organizations. 

For his part, said the adviser to the reconstruction fund in Nineveh, Hussein Jassem Jubouri, that the existing figures for the housing sector is frightening, where it was found that about 200 thousand housing units between the destruction of complete or partially unfit to live, including homes and apartments in the cities of Nineveh, Anbar, Diyala, Salahuddin and Kirkuk And the belt of Baghdad and northern Babylon.



"The cost of the reconstruction of each house ranges from 30 to 40 million dinars," he said. "This means that the state needs at least $ 5 billion. 

Meanwhile, thousands of people in the liberated areas continue to live in the camps because of the massive destruction of their cities as a result of the war between Iraqi forces and the organization of Dahesh, which has turned our cities and entire neighborhoods into piles of rubble. 

A section of the devastated Iraqis began their homes with partial reconstruction attempts or search for temporary housing. In this context, Iraqi MP Hamed al-Mutlaq told the "new Arab" that housing is the most important problems facing citizens in liberated cities, especially since many of them returned to his city, he found only rubble and broken walls.

He added that "citizens, especially employees do not have money for the reconstruction of their homes and the state constitutionally responsible for compensation, and remains the question here: Are these loans a substitute for compensation or a temporary assistance to citizens."

 



"The Iraqi government has failed to convince the international community that Iraq should be given the necessary funds to rehabilitate its destroyed cities because of the corrupt people who have been included in the delegations participating in the conference, who were the first to get," said Hudhayfah al-Dulaimi, a 46-year-old resident of Anbar in western Iraq. Political, partisan and personal gains, "noting that resolving the housing crisis and compensate people or build their role will end 60% of the problems of the difficulty of stability in liberated cities. 

Political analyst Waked al-Zubaidi told the "New Arab" that what the Iraqi government has done in announcing the release of financial loans to citizens to rehabilitate their destroyed homes is the weakest faith.

He said that the whole world knows the extent of corruption in the Iraqi government, which is why most countries of the world do not encourage the granting of funds to Iraq to rebuild its destroyed cities as well as the Iraqi delegation that participated in the Kuwait conference, which was poor and most of the corrupt. "How can we convince the international community that there is a government capable of managing funds and projects and corruption is still high and parties and militias are acting and interfering in the simplest things?" 

According to the Center for the success of economic development (independent), the looted funds in Iraq during the past 13 years amounted to 312 billion dollars, of the country's budgets amounted to 800 billion dollars. 

Iraq is one of the world's most corrupt countries in 2017, ranking 169th out of 180 countries, and 166th in a list of 176 countries in 2016.

At the end of last year, three years after the war against the terrorist organization Da'ash, the Iraqi authorities began a shameless movement to fight corruption. The operations began by arresting governors and government officials, some of whom managed to escape outside the country, in what observers called the whale hunting season. 

The worsening of corruption in the country has increased the suffering of citizens living with the decline in the performance of various economic sectors and weak performance of the government amid a severe financial crisis suffered by the state.

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  • yota691 changed the title to Government: The size of the Kuwait Conference was predictable and satisfied
Date of release: 2018/2/25 9:18 • 335 times read
Government: The size of the Kuwait Conference was predictable and satisfied
[Ayn-Baghdad] 
A senior government official said the money collected at the International Conference on Iraq Reconstruction held in Kuwait this month, amounting to $ 29.6 billion, "was expected for us."
The Secretary-General of the Secretariat General of the Council of Ministers, Mahdi Alalak, during a hosted dialogue symposium Secretary-General of the Council of Ministers set up by the Institute for Progress in Development Policy, in Baghdad, "Iraq's satisfaction with the Kuwait International Conference." 
"The number given to Iraq during the Kuwait International Conference was expected for us," al-Aalak said. 
He pointed out that "the standing of States with Iraq is a commitment to the country's sacrifices to eliminate the stingy, and thwart the terrorist schemes that posed a threat to the world."
Al-Aalak reviewed the process of preparing documents for the conference, which was prepared according to international standards. He explained that "the national team preparing for the conference has assigned a group of its members to communicate with donor countries and final agreements on the funds announced by these countries. Who expressed their desire to obtain investment opportunities in Iraq next month, with a view to final agreements with them on investment projects announced. 
The Secretary-General of the Council of Ministers, "the continuation of the process of supporting stability in the liberated areas, and near the convening of a community reconciliation conference in the Nineveh Plain," declaring that "the human dimension and community will be one of the features of the future in Iraq."
Kuwait hosted the International Conference for the Reconstruction of Iraq on February 12-14, in the presence of Prime Minister Haider Abadi and hundreds of Arab and foreign companies, as well as businessmen and finance, and announced at the end of the conference to raise 29.6 billion dollars, such as loans, grants and financial facilities to Iraq . 
During the conference, the government announced its need for $ 88 billion for reconstruction.
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  • yota691 changed the title to Commitments of the decisions of the Kuwait Reconstruction Conference are waiting for those who implement them 
  • yota691 changed the title to Chairman of the Investment Authority for "Information": Iraq is in receipt of the amounts of loans and grants to the Kuwait Conference
  
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Information / Baghdad .. 

The head of the National Investment Commission, Sami Araji, said Tuesday that Iraq is in receipt of grants and loans made during the Kuwait Conference for the reconstruction of Iraq, noting that the money was given several classifications according to the projects disbursed.

"The grants and loans have been given different ratings, as we are working on receiving them in the coming period," Al-Araji said in a statement to Al-Mawlama. "The money will be handed over to the Ministry of Finance, the Reconstruction Fund, the Ministry of Planning or the National Investment Authority."

He added that "Iraq sent a message to all parties that pledged to provide money to Iraq in order to classify them according to the projects and bodies that receive them."

Al-Araji said that "there are parties in Iraq will work to monitor the arrival of money from donors and lenders to the receiving party," stressing that "there are international bodies will work to monitor the arrival of money and record projects that will be disbursed with all credibility and transparency." Ending / 25 n

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  • yota691 changed the title to Kuwait calls on countries participating in the conference to rebuild Iraq to fulfill their obligations
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