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patriotic party girl
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Economic and Investment Committee and representative for reconstruction for finalizing the draft law infrastructure and service sectors but it excluded the Bill during the current legislative term because of political differences and the presence of other more important laws to Parliament Square,.
According to the decision of the Commission Attorney Khalil told mohama for features & Centre for the Iraqi media network ", that" the priority today is not the law of the infrastructure, there is a more important laws require political consensus ".
Khalil said: "the adoption of this law requires appropriate atmosphere and tranquillity and consensuses within the Chamber of Deputies and then the Parliament can decide on this issue."
Khalil said that "as a result of paralysis in Parliament and legislation to avoid a political crisis, this law has disrupted many other laws," he said, adding that "there was a desire by Parliament through his meetings with the relevant committees and political blocs in order to pass this law by nearly a month, but due to the circumstances in the country, the adoption of such laws may malfunction." but he noted "there are a lot of constraints, and that the law in the process of finishing touches, but may not include On the agenda of the political blocs is not interested in him, "he said.
And the House Guest at the end of last year, Prime Minister Nuri al-Maliki and a number of Ministers and officials to discuss infrastructure Act, Al-Maliki stressed the importance of law in infrastructure development through the payment term, especially since many States resorting to this issue when financial resources are unable to fulfil the requirements of development, indicating that Iraq needs 400 to 600 billion US dollars for the reconstruction of Iraq, while available to invest 250 billion dollars, noting that the implementation of many projects with an appropriate period of time, particularly The continuing global economic crisis could contribute to implementation of the reconstruction and the construction companies in several States of the relieves unemployment rates and contribute to job creation. ", Committee member Amer Al-Fayez Deputy through a permit for" features & status of the Iraqi media network "infrastructure Bill.
Fayez said: "if she be clear current Nebula Iraq resolved the political crisis it is possible to see the light." the political blocs failed to reach an agreement to pass the law and infrastructure was split on it, while the Kurdistan Alliance demanded a vote on the draft law on infrastructure, compared to allocate 17 percent of of the Kurdistan region, the other demands of the blocks as some "prohibitive".
Fayez said: "this law just like any other laws which it unfortunately that political differences political blocs often don't consider the national interest and not look to the future of the country as they look to political conflicts among themselves to political differences for the purpose of blackmailing the other account and block certain demands and the law as the rest of the laws for such labour". He is a member of the Committee: "The law read a first reading, but still at the mercy of political consensus and the mood of political blocs, law-based problems solved simple and based on political consensus and are not technical problems as they are arguments for blocking the law because political differences, so it stays Iraq suffers and people is a victim of political conflict between the blocks.
The Member Services and ages Ihsan Al-Awadi said that there is no movement on the infrastructure, "he said, adding that the law was deleted from the agenda of the House of representatives more than once because of the political differences between the blocks around this law." said aloudai features & Centre for the Iraqi media network: hexagonal Committee has been set up to resolve the issue of the competent parliamentary committees, two Committee on economy and two Finance Committee and two of the Services Committee micropayment Committee did not arrive A draft standard will satisfy all parties and proceed with this legislation.
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I evened you out!
Why would someone neg you on this?
THANKS, The only thing i can come up with are some people or just stupid with nothing better to do.
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Baghdad-and street- Economic Committee Deputy member Abd al-Husayn abtan, Iraq's economy is good and great strides to join the World Trade Organization, pointing out that Iraq possesses a high percentage of oil and result in large amounts due to the State budget, making its economy.
Abtan said in a press statement that "the possession of Iraq's oil wealth and high earnings and privileged geographical location Iraq and beautiful tourist areas make it economically distinct from the rest of the country, saying: Iraq's economy is eligible to join the World Trade Organization."
"The countries of Iraq would have a very big impact on the world economy and that's what sets it apart from the rest of the countries: countries of the world can never dispense with Iraq and an actor".
Noting that it is in the interest of the world that Iraq is within the WTO and in the interest of Iraqis to go to the link to the world is who does the national economy and global experiences earnings ...P/I
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http://www.microsofttranslator.com/bv.aspx?from=&to=en&a=http%3A%2F%2Falrayy.com%2F71869.htm
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NEW YORK/SINGAPORE: Iraq made its first major move in years to boost its gold reserves in recent months, joining central banks from emerging market economies such as Brazil and Russia in diversifying its foreign reserves.
Central bank purchases have been one of the biggest drivers of gold's rally since 2010 - a year which saw central banks turning net buyers of the precious metal for the first time in two decades amid growing doubts about the stability of the dollar as the world's top reserve currency.
Over the course of three months between August and October this year, Iraq's gold holdings quadrupled to 31.07 tonnes, the International Monetary Fund's monthly statistics report showed on Thursday.
In the first change in its reserve in years, the country added some 23.9 tonnes in August, bringing the total to 29.7 tonnes. That was followed by a 2.3-tonne rise in September to 32.09 tonnes and then by a cut of 1.02 tonnes in October to 31.07 tonnes. There was no data for November.
"It was interesting that Iraq bought gold," a Sydney-based trader said on Friday.
"Gold bulls will cheer the news as more central bank buying will support gold prices in the future, but the market currently is a little distracted by other things, namely the U.S. 'fiscal cliff' talks."
Spot gold prices are set for their twelfth straight year of gains in 2012. Over this period gold gained the most, around 30 percent, in 2007 and 2010.
But right now gold is facing pressure from end-of-the-year fund liquidation and the uncertainty hanging over U.S. talks to avert the "fiscal cliff" of tax hikes and spending cuts that would kick in early next year and threatens to tip the economy back into recession.
Among other central banks, Brazil increased its gold holdings for a third straight month in November, raising its reserves by almost a third to 67.199 tonnes.
Russia, added 2.86 tonnes to raise its gold reserves to 937.82 tonnes, the eighth highest gold holdings in the world.
The United States, the top gold holder, has more than 8,100 tonnes of the precious metal in its reserves, data from the World Gold Council (WGC) showed.
South Korea's central bank bought 14 tonnes of gold in November, lifting the country's gold holdings to 84.4 tonnes.
Official sector's gold buying in the first three quarters of the year at 351.8 tonnes already exceeds the total for 2011, the WGC said.
But some countries trimmed their gold holdings, including Turkey, Sri Lanka, Mexico and Mongolia. For a table on changes in central banks' gold holdings see:
Read more: http://www.dailystar.com.lb/Business/Middle-East/2012/Dec-21/199369-iraq-boosts-gold-reserves-1st-time-in-years-imf.ashx#ixzz2IUO79x6N'>http://www.dailystar.com.lb/Business/Middle-East/2012/Dec-21/199369-iraq-boosts-gold-reserves-1st-time-in-years-imf.ashx#ixzz2IUO79x6N
(The Daily Star :: Lebanon News :: http://www.dailystar.com.lb)
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Iraqis view the case of the central bank as a part of the political conflict.
Sinan al-Shabibi, the former governor of Iraq?s Central Bank ? the highest monetary authority in the country ? was not the only banker who made it onto the wanted list in Baghdad. Hussein al-Uzri, the former head of the state-owned Trade Bank, preceded Shabibi.
Both bankers are, maybe by complete happenstance, friends with the prominent banker and politician Ahmed Chalabi, who went from being one of Iraqi Prime Minister Nouri al-Maliki?s supporters to one of his opponents. Perhaps it is also a coincidence that he happened to take on substantial roles in the process of redeveloping the Iraqi economy that was launched by Paul Bremer, governor of Iraq after 2003. Shabibi assumed the position of Iraq?s Central Bank Administrator and thus was responsible for exchange rates and exchange reserves, while Uzri became head of the Trade Bank of Iraq, which regulates Iraq?s international trade and funds reconstruction operations.
The prime minister?s rivals in Baghdad have noted that Maliki, for nearly a year now, has been carrying out a plan to grab hold of power in this country in which political divisions escalate proportionally with an increase in fuel production.
Maliki is accused of launching a campaign to monopolize power, following the complete withdrawal of US military troops.
In that sense, Maliki discharged Uzri in the middle of last year, after accusing the latter of being involved in corruption. This is the same charge upon which Shabibi?s arrest warrants were issued a month ago.
The latest accusation facing Maliki concerns his attempt to use his power to influence Iraq?s central bank. This interference is prohibited by lists that were set by Bremer back in 2004.
The central bank is viewed as a model for how the US wants modern Iraq to be, and a symbol of transparency in a country that was plagued with corruption during the era of the late President Saddam Hussein.
In 2004, Bremer drafted a special law for the central bank, which granted the bank a large degree of independence from government policies. The bank was in charge of exchange rates, amidst a general economic scene that had been characterized by oscillations for many years, as a result of economic sanctions imposed on Saddam Hussein?s regime.
Since then, the central bank decided to intervene directly with exchange rates and thus a committee was formed to hold auctions three times per week to sell the foreign currency for a fixed price. Hence, the bank succeeded in stabilizing and preserving the required rate, even though it was losing $1 million weekly from exchange reserves.
It was not long before the central bank went ahead with increasing the value of the Iraqi dinar by 20% relative to the US dollar. It went from a rate of 1500 Iraqi dinar per one dollar at the end of 2003, to a rate of 1200 per one dollar at the end of 2004.
However, the international sanctions imposed on Iran because of its nuclear program, and on Syria following the suppression of protests, have pushed the Iraqi Central Bank into the spotlight.
The unofficial version of the story is that the US asked Shabibi to tighten the procedures for currency selling within the local market, in order to prohibit money transfers to Iran and Syria, which were both under sanctions. When the central bank complied with the suggestion, the Iraqi government was outraged.
In April of last year, the central bank adopted a series of measures to rein in what was said to be smuggling operations aiming at providing Iranian and Syrian banks with foreign currencies from Iraq. These measures included decreasing the sale of US dollars from about $1 million per week to $300,000 at most. This had a direct impact on the exchange rate of the Iraqi dinar, which decreased in value by about 5% against the US dollar.
Prominent politicians in Baghdad noted that these measures ? which, on a general level, were aimed at preserving the exchange rate and, on a deeper level, to tighten the grip on Syria and Iran ? angered Maliki. This incited him to interfere ? as he has done before ? by appointing one of his close acquaintances as head of the Trade Bank.
As a result, the cabinet authorized Abdel Baset Turki, the head of the Board of Supreme Audit, to run the central bank temporarily.
Informed sources in Baghdad hinted that Shabibi was replaced as a result of a deal concluded between Maliki and the head of parliament, Osama al-Najafi.
The sources stated that Najafi, who strongly objected to Maliki?s attempt to take over the central bank, agreed on discharging Shabibi after making sure that the prime minister would assign a Sunni, Abdel Baset Turki, as his replacement, even though the latter is a potential ally of Maliki.
The committee formed by the head of parliament to investigate the accusations of alleged financial impropriety against Shabibi disclosed that more than a billion dollars were sold during the bank?s auction without tracing the sources of the money. However, sources close to Maliki confirmed that the prime minister?s anger is related to Shabibi?s failure to hand over legal documents related to the selling procedures of about $220 billion in the auction.
Some of these sources claim that certain bank documents were counterfeited in an unprofessional way, yet ? despite that ? have eluded auditing. This is a fact that was later revealed by the parliamentary committee.
It is still unclear whether or not international parties will intervene to investigate the central bank case. While a member of the parliamentary financial committee announced last week that a delegation from the United Nations had arrived in Iraq to investigate this case, the UN Mission in Baghdad and the ministry of foreign affairs have both denied the claim.
Many Iraqis view the case of the central bank as a part of the political conflict in Iraq, and feel that the investigations will not lead to anything.
The many problems deterring economic growth in Iraq ? such as the case of the central bank and the fuel and gas law, among others ? will not be solved if consensual political agreements are not reached.
Yet, the attempts to change the rules of the political game ? set by the US after its military withdrawal ? require, according to many Iraqis, a reconsideration on the part of Washington.
http://www.kurdishglobe.net/display-article.html?id=ED021DB442A09033B0454D0863BB17E7
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news/excluded the Parliamentary Committee on the economy and investment, Sunday, to witness the new year the birth of new Iraqi currency, three zeros deleted, noting that the Central Bank of Iraq had to be equal the value of one dinar to the dollar.
The Rapporteur of the Committee, said in an interview for mohama Khalil "twilight news" that "the new year will see the restructuring of the Iraqi currency, delete the three zeros, and therefore will not witness the birth of a new Iraqi currency because of the refusal of the Government to this project", stating that "the Government considers that this is not a priority."
He added that "the Commission on economy and investment has supported this project with the Central Bank Governor that purely economic and intended to maintain Iraqi currency from counterfeiting, corruption and fraud".
Khalil said that "there were States with successful experiences in this field and restructuring its currency and has deleted some zeros, and we seek to follow suit."
Khalil said that "under article 46 of the law on the Central Bank of its powers to issue new currency or new categories and preserve the value of the Iraqi dinar against other currencies".
Khalil said that "it was up to the Bank of the move is that the Iraqi dinar is equal with one US dollar after deleting zeros and the promoters of bogus currencies, as well as the new currency was not easily perishable."
The Central Bank of Iraq began consideration of an amendment last year dinar, categories, and is still a significant part of the payments are in cash as a result of the underdeveloped banking system.
The Cabinet decided, in mid-April last year, wait in the application project delete zeros from the currency.
Finance Committee revealed in the House of representatives, last month to defer the deletion of zeros from the Iraqi currency intended for Central Bank launched to 2014.
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Launched Friday businessman Baghdad Economic Forum and the first banking with broad participation from many departments of the Iraqi private banks and Arabic as well as senior Iraqi economic figures.
The forum aims to promote the opening of Arab markets to trade and investment and access to investment opportunities and identify the requirements of the banking industry and the priorities and challenges facing the financial and business sector in Iraq.
In his speech during the forum announced and central bank governor Abdul Basit Turki agency that economic administration in Iraq is heading towards a market economy system, calling to stimulate the private sector and not to rely on the central bank and make it the main source of foreign currency.
Turki said the central bank began activating its regulatory tools in order to combat money laundering coming from abroad, including money coming from the Kurdistan region of Iraq crossings.
For his part, Secretary General of the Union of Arab Banks and the International Union of Arab Bankers and Sam Hassan Fattouh said the Iraqi banking sector is still dependent on funding from the public sector, calling for a greater role for the banking sector to contribute to the increase of gross domestic product.
So stressed First Deputy Speaker of Parliament Qusay al-Suhail that the recent measures of the Central Bank of Iraq "is not deduced from the Government the private banking sector," noting that it "came to develop this sector, especially after reports from the World Bank indicate that the sector has become negative because of its reliance old banking methods. "
The forum held economic and banking for the first time in Baghdad and over two days looking through the mechanisms to develop the Iraqi banking sector and open new horizons for investment, as well as anti-bleaching and money laundering and drying up the sources of terrorism.
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Increased reserves of the Central Bank of Iraq in hard currency to $ 67 billion, after it was 63 billion last year. This is the reserves are the largest in the history of Iraq.
The chancellor confirms the Ministry of Finance Hilal Taan scathing in his Free Iraq that these amounts are at the disposal of the Iraqi Central Bank circulated in foreign investment without currency manipulation, otherwise the Iraqi dinar exchange rate may fall apart.
On the other hand Taan denied that the U.S. central bank no authority to act in this reserve and that what is at his disposal is $ 18 billion of Iraqi oil revenues, according to the provisions of Chapter VII of the UN Charter.
To financial expert Majid said that the picture of Iraq's currency reserves increase would increase global confidence in Iraqi currency and enhance the status of the Iraqi economy among developing economies.
The currency reserves have risen the end of 2011 to 58 billion dollars at the end of 2012 rose to $ 60 billion.
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Wow AND AWSOME JOB ON FINDING THIS I THINK THE WHOLE BALL OF WAX ON THE DINAR IS GIONG TO FINALLY START COMMING TO A HEAD CAN NOT WAIT TO SEE WHAT HAPPENS AND WHO IS INVOLVED IIN ALL OF THIS .AGAIN GREAT FIND THANKS SO MUCH VERY INTERESTING TO SAY THE LEAST.
HAVE A WONDERFUL DAY
PPG
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Thanks i have stopped comming here for awhile now just check in now and then but hearing this from u makes me feel good again thanks so much for your intel rumor or not .
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Commercial Bank: Issuing 333 adopt the values exceeded $ 3.5 million during the first quarter
{Baghdad} confirmed the Euphrates News Agency General Director, Chairman of Bank of Iraq Hamdiya dry that the activities of Trade Bank of Iraq had been formed for the first quarter of this year, a significant shift in the overall context of the work of the bank.
9. He said dry in a press statement received by the agency {Euphrates News} a copy of it today that "restructuring the bank and whose goal is the development and modernization has reached advanced stages, which reflected positively on the nature of the work and the results of the bank," noting that "this progress in our bank denies claims by some employees of government departments, there are some obstacles in the completion of their transactions regarding the issuance of documentary credits. "
. She added, "on both face any obstacles in completing the issuance of credits or any other transaction of public or private review of the General Directorate of Bank bringing all proof of his claim in order for the bank to take necessary measures and simultaneously promised to dry answer with full transparency on every case our office and as we committed our customers always.
وShe said dry that the bank issued during the first quarter of this year {333} the adoption and the values exceeded three million and 500 thousand dollars, with an increase of 8% from the first quarter of last year, where crossed Okiem credits issued by the bank since its inception in 2003 until now, the barrier 50 billion dollars ".
Dry and followed that "the issuance of such a level of Akiem credits can not be achieved in the presence of constraints on the process of banking." Ended
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Apparently you BL followers have not "followed" her very long. She has been wrong many times on the news and her spelling/grammer is always horrible. I hate to sound rude, really to each their own, but she knows no more than the rest of us. She has called the RV before (go back through past chats...you'll see), and myself and other old-timers to this investment have said many times that unless you worship the ground she walks on, she kicks you off her site and throws tantrums. Take it for what its worth but I've seen her rants and raves with my own two eyes, as have many others. Just be careful dedicating yourself to the Bondlady Bandwagon....
I agree with you I FOR ONE HAVE BEEN IKICKED OFF AND BANNED THE FIRST TIME I SET ONE TOE IN THAT SITE FOR ASKING A QUESTION ABOUT WHAT RICH QUEEN SAID THAT I FELT LIKE WAS NOT TRUE SO THERE U HAVE IT AND I GET ALONG WITH ALL SO GO FIGURE THAT ONE HAHA
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confirmed the Economic Committee in the House of Representatives, Monday, the lack of "real meaning" on the government's measures to stop the economic inflation, noting that the central bank proposed to delete the zeros of the Iraqi currency and raise its value against other currencies as a solution to inflation.
A member of the Committee of Economy and Investment parliamentary Amer winner for " Twilight News "," The government had previously made promises to take action to stop the economic inflation, but we did not have any impact on the ground. "
He pointed out that the "Committee for the economy hosted earlier in the Central Bank Governor Sinan Shabibi and his deputy, the appearance of Mohammed Saleh to discuss ways to stop the inflation or reduce the effects of economic, as made clear that inflation can be stopped by deleting the zeros of the Iraqi currency and raise its value against other currencies."
Revealed the Ministry of Planning and Development Cooperation for a new high for the index of the annual general inflation for the month of March increased by 8.3% over the same month of 2011.
He attributed the ministry spokesman Abdul Zahra al-Hindawi, the reasons for the rise to two main factors are the first in the "high average prices of vegetables and fruits following the government's decision in February 2012 to suspend Astaradhma which led to a rise in the price index of the Department of Food and non-alcoholic beverages within the basket of the prices increased by 13.2 % compared to that index in the month of March 2011. "
The second factor has been the "state of the continuous rise of the price index for the Department of Housing and real estate (8%) than it was in March 2011."
The Cabinet had decided last Thursday, to wait in the application of the deletion of zeros from the national currency.
The director of the Media Unit of the Secretariat of the Council of Minister Abdel Talaqani, "The Affairs of the Secretariat and sent, today, issued a decision to wait in the application to delete the zeros from the national currency."
http://www.shafaaq.com/sh2/news/economy-news/39649--------qq---.html
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Iraqi government decided to dismiss the deletion of three zeros from the national currency. She noted the Department of Cabinet Affairs in a brief statement that the decision requires to stay the proceedings relating to the operation until further notice. The cabinet took this decision based on what presented to the Economic Affairs Committee.The Central Bank of Iraq announced in August last year that he plans to delete the zeros in order to facilitate financial transactions and that the bank's proposal to restructure the Iraqi dinar is awaiting approval of Parliament.The Reuters news agency quoted the Secretary-General of the Council of Ministers on the Keywords that the Economic Committee discussed this issue as well as the Council of Ministers and that there is likely to cause the process of deleting the zeros of some problems in the economic situation as well as the operation was so great that the Government considers that the circumstances are not suitable for the feet of them.Radio Free Iraq met with Iraqi Deputy Governor of the Bank of the appearance of Mohammed Saleh, who confirmed that the patient in the deletion of zeros does not mean to keep it indefinitely because of the official and popular consensus on the need to delete it in the end.He also explained that the reason for slowdown in the deletion of zeros is the unwillingness of destinations such as the Ministry of Finance and the Office of Financial Supervision of the project such a large extend from official circles, through computer programs to his small shop.He warned the deputy governor of the Central Bank of zeros to cancel the project to delete or postpone it for a long time at the same time expressing his appreciation to the government's decision because of current economic conditions.Member of the drafters of Finance in the House of Representatives Najiba Najib pointed out that Iraq is a political crisis and other economic turnout because of Iran and Syria to the Iraqi market, the dollar to ease the effects of the economic blockade on them.But the President Economic Information Center non-governmental Dargham Muhammad Ali saw that the deletion of zeros from the national currency is not related to the high demand for the dollar and the falling exchange rate of the Iraqi dinar.He expressed a professor of economics at the University of Mustansiriya Abdul Rahman al-Mashhadani surprise at the government had backtracked on the restructuring of the Iraqi dinar, especially as it is proposed that the central bank Zllk five years ago.The volume of money supply in circulation in Iraq is more than 30 trillion Iraqi dinars. And was scheduled to facilitate the transfer of the banknote trading category thousand dinars to one dinar without losing something of value.File contributed to the Radio Free
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15/04/2012 08:13
A Summit an important catalyst in the intention of States Arabic Arabic banks Summit in Baghdad next month.
Economists stressed that this Summit would open the floodgates in the expansion of banking and financial dealings for Arab Iraq with its surroundings
short but sweet lets open those flood gates am ready
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Parliament Speaker Abdulaziz Osama Najafi in his office Tuesday morning, Mr. Sinan Mohammed Rida Shabibi Iraqi Central Bank Governor, and reviewed with him the economic situation and the reality of the work of the Central Bank. He stressed during the meeting on "the necessity that the central bank is independent and responsible according to the provisions of Article (103) of paragraph (2) of the Iraqi Constitution, as well as Article 2/2 of the Law on Central Bank of Iraq 56 of 2004 which states:" In order to achieve the goals of the Central Bank Iraqi and accomplish its tasks, the Central Bank of Iraq independent and responsible as provided for by this law. Except as otherwise set to this law, will not receive the CBI instructions from any entity or person or institution, including government institutions. And we will respect the independence of the Central Bank of Iraq can not be anyone to influence and improper for any member of the decision-making body in the Central Bank of Iraq during the performance of his duties in the bank, or to interfere in the activities of the Central Bank of Iraq. "
He referred to "support the House of Representatives absolute work of the Central Bank in accordance with Constitution and the law, and stressing the need to continue to the Central Bank with the parliamentary committees relevant to discuss and clarify the problems that plagued Iraq in the areas of monetary policy and banking. "
For his part, attributed the governor's reasons for the high exchange rate of the dollar against Iraqi dinar to the weakness of domestic production and the lack of Iraqi exports ( excluding oil), and the weakness of the government's measures to attract capital to Iraq, as well as the political situation tense internally and regionally, and the economic blockade suffered by some neighboring countries.
This stressed the rule of President Nujaifi "should not be dependent central bank to the government so as to prevent the seizure of funds Iraq or the implementation of international rules issued against Iraq by the creditors. "
He also said "the House of Representatives will host the central bank governor at a hearing to explain the reality of the Bank's work and identify the issue of the exchange rate of the dollar against the Iraqi dinar and the economic conditions and monetary policy in place."
***
Information Office
Chairman of the Board of Representatives
04/10/2012
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BAGHDAD/ Aswat al-Iraq: Cabinet spokesman Ali al-Alaq denied that the government demanded annexing the Central Bank of Iraq, pointing that 180 billion dollars were remitted abroad during the past few years, mostly not for purchasing purposes.
In a statement, copy received by Aswat al-Iraq, he added that "the general policies of the state belongs to the federal government, and the monetary policies are part of the economic ones".
He added that General Auditing Department pointed the weakness of supervision on the CBI on external remittances, which are "organized operations to smuggle money abroad".
Alaq added that the monetary situation in the country is "good", where "we have 65 billion dollars as reserves".
He elaborated that the law of the CBI designates that bank is a consultant, a bank, and financial agent to the government, as well exchanging information and coordination of monetary policies, which matter demanded by the government.
http://en.aswataliraq.info/(S(hxzexk45cehmavetz4dz4355))/Default1.aspx?page=article_page&id=148033&l=1
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BAGHDAD/ Aswat al-Iraq: Close sources to the Central Bank of Iraq's Governor denied reports that the Governor fled the country.
Governor Sinan al-Shibibi left for Switzerland to meet his family before heading to USA to attend spring meeting of the Monetary Fund, as reported to Aswat al-Iraq.
Iraqi media reported that Shibibi fled the country with important documents related to the secrets of the CBI.
There are deep rooted differences within the Iraq government on the monetary policy adopted by CBI, following the charges that the bank failed to contain the financial exchange of Iraqi dinar-US dollar crisis.
The CBI countered these accusations that the fluctuation in dinar prices was due to the deteriorating situations in Iran and Syria, which necessitated more dollars in the market.
It put some regulations to control the money exchange for the real Iraqi merchants not "the ghost dealers".
Some of the political blocs criticized the government for trying to control the reserves of the CBI, which are estimated to 60 billion dollars.
RM (TS)
http://en.aswataliraq.info/(S(hxzexk45cehmavetz4dz4355))/Default1.aspx?page=article_page&id=148023&l=1
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17/04/2012 0:00
After the support of central bank has asked the Government on the protection of
Baghdad - Haider Filaih Rubaie
criticized the expert and economic thinker Dr. Mahdi Al-Hafiz Iraq's claim to the United States to protect his money again, saying that these demands could deprive the country from the funds of an estimated $ 60 billion is the size of what has been deposited in Fed U.S., pointing out that the reason that government demand due to the confusion of monetary policy in Iraq and the lack of ability to protect the funds of the country, in the meantime, expressed surprise at the central bank asked the keeper, supported at the same time the Government's request to renew the protection money the country for another year, indicating that the the issue of protection nothing to do with monetary policy but rather related to legal issues and requests for creditors to claim that their financial dues owed by Iraq since the former regime.
said Hafiz during his speech for the (morning): I was surprised the decision taken by the government on the request for extension of the protection money the country, and should have been take an explicit and decisive by this time, strange about it is that the resort as a country back to the U.S. authorities to protect these funds.
and the keeper that the volume of money deposited in the Fed U.S. is estimated at $ 60 billion, stressing the need not to be taken this problem to that degree of indifference, especially that Iraq is in danger as seen Hafiz, who expressed surprise at the situation in Iraq once again at the mercy of American power, which he said owns the other reservations on many aspects of economic development in Iraq.
said keeper, said that while he should convert those funds to other banks in Europe, under its protection also see that the problem Ttgd Government's request to extend the immunity of such amounts when they need Iraq to them.
He attributed the reasons for the Government's request to extend the protection period for another year to (poor management of cash in the country), saying at the same time that monetary policy is not the required level management functions, which is why Iraq is facing now and then the other problems of this kind, pointing out that the independence of monetary policy does not mean depriving the country of that money that could implement giant projects for Iraq.
in turn, said the central bank that the issue of a government request to extend the protection does not like her monetary policy for Iraq, pointing out in an interview made by the (morning) Deputy Governor of the Bank of the appearance of Mohammed Saleh said Iraq's invitation came to the immunity of his money from creditors who claim the existence of financial benefits to them by their dealings with the former regime.
Contrary to what was called for Hafiz, the Deputy Governor of Central Bank Ed strongly call on the government request to protect their money for another year, explaining that this request will limit the number of creditors, the real and find out the total public debt of the country, Saleh said he was under the Paris Club, Iraq held a settlement on the more than 80 percent of its debt sovereign, as well as the settlement of the majority of commercial debt the other, and remained the only debt investment, as the former regime condemned and strongly to a large number of companies and investors who claim it, which made it necessary for Iraq to protect his money from legal prosecution, which some may be false and inaccurate.
and the benefit of the country is the work of settlement with many of the creditors through the Paris Club agreement, and actually managed to persuade a large number of creditors to reduce the size of indebtedness for interest rate annual rate of 5.8 percent, as approved by nearly 85 percent of the creditors that percentage of the profits to meet to reduce the size of their debts and extended to long periods of time, and this According to MP to reduce public debt to Iraq of $ 21 billion to nearly 2.7 billion in one year.
was of a Government commission recommended to issue a presidential decree U.S. provides protection for Iraqi funds for a new year. held the Ministerial Committee on the Status of a mechanism to ensure the protection of Iraq's money its twentieth meeting under the chairmanship of Deputy Prime Minister Ruz Nuri Shaways in the presence of ministers of finance and oil, Justice and President of the Office of Financial Supervision and Governor of Central Bank of Iraq and the agents of the Ministries of Foreign Affairs and Planning and the Legal Adviser to the Prime Minister and Advisor to the Deputy Prime Minister.
According to a statement issued by the Office Shaways, the Committee deliberated the procedures and steps to be pursued to protect Iraqi funds and assets deposited abroad, especially with the imminent expiration of the protection provided by the presidential decision to the American that money and assets until next May. Commission has taken, according to the statement, a series of resolutions and recommendations to be working out, particularly the recommendation to the Council of Ministers to submit a formal request on behalf of the Government of the Republic of Iraq through the Ministry of Foreign Affairs to the Government of the United States to issue a presidential decree provides new protection for Iraqi funds for a new year, starting from 20 next May.
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17/04/2012 0:00
Kurdistan: Talabani, awaiting the return of Barzani, to hold a meeting with Maliki
BAGHDAD - Al Sabah
accelerated yesterday moves to hold an important meeting for the three presidencies to put points on the characters before the national meeting. and synchronized moves with continued efforts to collect Prime Minister Nuri al-Maliki and President of Kurdistan region Masoud Barzani on the table of dialogue bilateral under the auspices of President Jalal Talabani.
This comes at a time when he met the Speaker of Parliament Osama Najafi yesterday, both the Vice President of the Republic Khudair Khuzaie and Iraqi National Congress leader Ahmad Chalabi, both separately.
and yielded talks Nujaifi with Khuzaie and Chalabi, an agreement to make all efforts to resolve the political crisis current and the convergence of views between the parties and as provided for under the provisions of law and the Constitution, as Vice President of the Republic in a verbal message her pregnancy for the National Alliance commitment to the application as stated in the terms of the Arbil completely undiminished starting with the acceleration of the meetings of the Preparatory Committee.
midst of that, it was announced member of the Preparatory Committee for the meeting of the National MP Salim Abdullah efforts to collect the three presidencies in a meeting soon.
Jubouri said in a statement to the "morning": that "there are three initiatives, the first collection, the political parties once again to agree on the program met to discuss the blocks, and the second initiative of the President Kurdistan region Masoud Barzani and how to invest, while the third is a meeting of the three presidencies in a week.
and was scheduled to hold the leaders of political blocs, the national meeting on the fifth of this month, according to the date set by President Jalal Talabani to discuss the current political crisis, especially the differences between a coalition of state law and the Iraqi List, but it was postponed the meeting, without giving reasons, to date has not been determined yet.
As part of a related, the president of the Kurdistan Alliance bloc Fuad Masum, the existence of a move by the President of the Republic to dampen the atmosphere between the Prime Minister and President of the Region.
It is said that the Kurdistan Alliance MP Mahmoud Othman, had confirmed the "morning" pursuit of the President to convene a meeting between Prime Minister and President of the Kurdistan region to resolve the outstanding issues between the center and the region, noting that "the President of the Republic carries during his visit to the Kurdistan Regional Initiative for the collection of the Iraqi political forces aims to bridge the gap in views between Baghdad and Erbil, and set a date for a national meeting. "
In turn, MP for the Iraqi List, Hamid al-Mutlaq need to hold a national meeting.
Mutlaq said "morning": that "there is an urgent need to hold a national conference due to the worsening political differences that have not solved so far, which became the subject of Iraq because of the interventions is widely and very clear
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04/15/2012 0:00
At a seminar hosted by the Institute for Policy development
Baghdad - morning
and placed the Economic Forum held by the Institute of Development Studies, among other things that will break choking oil happening between the center and the region, cross-sectional at the same time the outcome of the contracts on both sides of the economic results can be returned to the country more of profits and money that fall within the Moisnath annual financial and drew as well as to the shapes happening between both parties, describing the way the technician, and stressed that the oil and gas law and if approved sponsor Bhlhalh all the problems that have occurred within the circle of export or extract oil or process of contracting with companies foreign, especially in the region.
and discussed at the seminar which was attended by a number of experts, specialists and disappeared by the Ministry of oil and paper presented by oil expert Kamel M'hidi titled "oil contracts in the Kurdistan region compared to the center", browse through the most prominent intersections taking place between both parties, explaining that all things relationship between the province and the center has yet to arrive to the level of the real problem and remained under the umbrella of the difference in views art intersected at several points can be solved by holding such seminars and presented to the makers, the policy of the country's economic and legislators.
and gather participants on the importance of resolving differences and move forward to pass a law oil and gas, which is long overdue and they had prepared the arbiter of the resolution of these disputes in the meantime, he drew a lecturer in his study comparing the decades the province and the center that the advantages enjoyed by the region calls for to enjoy the sons of Basra, the same privileges or that so they can be to hold contracts for the region under the flag of the government and federal approval.
to that was the opinion of another intervention to one of the participants called for the need to exclude suspended contracts of the province in the disputed areas until a resolution of the matter and that is being considered as contracts of the province the other is the reality of it is bound by the promise of this solution and compromise to reduce the differences between the province and the center.
According to the thinker Economic Acanutormahdi Hafiz, the issue of oil is not new in the economic arena, but it is a matter holds a few years ago, so the time has come to find versions of a real out of the crisis, particularly after the escalation of differences on this subject between the center and the region recently, and called on the keeper during the introduction speech at the start of the seminar that genuine disagreement on class basis on the oil contracts concluded in the region, identified contracts to participate as they kept the contracts concluded by the center contracts for service, explaining that the oil law does not allow to take unilateral decisions, which means its emphasis on the speed of adoption of this law, which he said sponsor Bhlhalh all outstanding problems between the province and the Centre, particularly oil, saying that a draft law that occurred in 2007 are the same as agreed upon between all the political components.
hinted keeper that the differences between the center and the region on oil contracts focus in that there are 12 contracts have been signed by the Oil Ministry is service contracts as the contracts for the Kurdistan region are sharing contracts and at 48 contracts and these contracts are tied mainly to certain conditions totally different from the contracts for the center.
said that the seminar aimed at finding solutions to the disputes department and objective convergence of interests between the government and the province.
pointing out that the absence of oil and gas law was behind the jurisprudence as well as the interpretation of the Constitution in accordance with the interests of the comparison between the contracts of the Centre and the provincial scholar and during his speech pointed out that the province signed 48 contracts with foreign companies are different, and that part of the exploration there has been a common ground or disputed as is the case with Exxon Mobil. He Mahdi that Exxon Mobil is still maneuvering to use the time to find solutions to certain of the order to preserve them on contracts signed in Kurdistan and the Centre, as the company invests in the fields east of Qurna, indicating that the difference between both sides to ensure the nature of the contracts as well, where signed Kurdistan agreements for decades post production while the Ministry of Oil signed service contracts. and expert pointed out that the rate of participation in contracts for the region depends on the ratio of imports to the expenses or coefficient of profitability, and that the share of companies in which a 30 percent or more if the plants and one percent, while the contracts in place Vtkon corporate profitability from 2-6 per ten. explaining that there is another difference between the nature of the contracts, both in the province and the center, pointing out that the region included the exploration contracts, ie, that the company contracted with searching for oil in the case of investment is to find and did not find him lose their investments, while the contracts of the Centre concluded on the basis of development and production only, saying that in the universal concepts is a big difference. and M'hidi the tax implications of the companies contracted by the Ministry of Oil federalism was consolidated and by 35 percent, either in the region did not specify the contracts and only reference to it not more than 40 percent. The expert stated that he and the purpose of comparison between the two types of contracts, everyone needs to identify the key indicators, including the so-called internal rate of return, an indicator for comparison between the draft and another, while the second indicator is to stand on the present value of returns of the company and the state or the so-called net present value, and said the expert, too: I think it According to the comparisons of past and indicators offered, contracts Kurdistan was a generous bit and it was possible to get contracts for the best, especially in recent years, particularly since these companies are benefiting greatly from increased oil prices Globally, more than doubled profitability of the companies after the increase in prices, since the increase in prices included tax imposed on those companies invested, and was able negotiator in Kurdistan, to impose any increase prices due to the region. a plan to bring the views in turn said economic expert, Dr. Ahmed Ali Ibrahim, that any tendency to discuss mechanisms for contracting in the oil contracts contribute to contain these differences to a certain extent, pointing to the existence of the lungs for decades of oil with respect to the center and has different opinions and they have a vision of what is adopted province of Kurdistan, which has a point of view based on a clause in the Constitution sets the priority of the Party at the expense of the center and that arising from the philosophy of the Iraqi constitution, this opinion is different was on both sides of any Adaah within the framework of a single regard to the disposition of things after the issuance of oil and gas law, which will be judged Faisal in all of these differences, and expect to continue these differences is difficult to overcome only through dialogues should be organized at a high level, and pointed out that such a seminar would be closer to the views of the parties is an important step in the path exceeds the difference in views on the constitutional text, which took the interpretation of more than one side, and stressed again the need to work on the issue oil law, which regulates the nature and eligibility of the organization of the oil contracts with international companies because the work is to overcome these differences is very important to stabilize the economic landscape of Iraq. team Yasser incumbent - Haider al-Rubaie Filaih - Hussein Tgb
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04/15/2012 0:00
D. Mehdi Hafedh
the problems related to monetary policy in Iraq worth looking on the basis of professional, objective and free from conflicts and partisan political interests. The most important of these foundations is to ensure the protection of Iraq and to secure funds invested in a constructive and fruitful indeed. Yesterday, escalated tensions on the price of Iraqi currency and the gradual degradation in front of the U.S. dollar, and then came the economic decisions of the Committee of Ministers to declare a desire to issue a formal request to the U.S. government to extend the executive decision of the Judge President of the U.S. to protect Iraqi funds. And between this and that hesitation to talk about the disappearance of huge sums estimated at several billions of dollars in past years, and did not find conclusive answer them.
this imbalance explicit policies and actions dealt with "World Bank" in the report is extremely important and hinted that the great imbalance in the financial position and cash lies in the number of joints and the most important of turmoil and underdevelopment that afflict the banking sector, both official (government) and civil (private). This was in the report which was released in the past year at the request of an official from the Iraqi government (Ministry of Finance and Central Bank of Iraq).
of inalienable rights, is a keen community and public opinion access to all Khvaya fiscal and monetary policy, and give their opinion and advice and even pressure the project to ensure the case sound in the transactions taking place in this center. For example, exposure of the Iraqi dinar to the shock which resulted in, the intensification of price volatility prompted the Authority to form a special committee to discuss this matter. And what did the administration's official monetary sector on the approaching expiration of the protection of the U.S. Iraqi funds amounting to less than a month, where it ends in May next. It is also wise and right frequency the question of the size of Iraq's money accumulated in the bank account U.S. and return to Iraq and now required to renew protection.
that the problem was and still is in the poor performance the official, it is not true over-stated principles and quote some of the articles of the Constitution to justify the wrong practices or inadequate , Vamenhjah officials declared the official direct-deficient adults, where there is neglect of the economic situation and the need to reform an environment necessary for monetary policy and the prosperity of opinion between the last estimated the economic difficulties and considers it a reason for some of the palaces. The Constitution is explicit in its emphasis on the link between monetary policy and economic development, but consider them to two twin. The reference to "independence" absolutely is a tendency to kind of isolationism, something that can not be accepted in the state designed to build on the foundations of a new and modern, if obtained practices or procedures wrong or not the required level, how can be addressed without returning to the rules of power and public order in the state? Valastqlalah accepted principle within the specific terms of reference and subject to general principles of the administrative system of the state.
and this is what should be referred to as a way guarantee any particular abuses and as a way to keep the state funds and the safety and vital power
of cash.
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{News} Baghdad, Euphrates MP for the Iraqi List, Omar al-Jubouri that the decline in the Iraqi dinar and dangerous phenomenon on the financial authorities of Iraq to pay attention to this subject and Atattabrh normal condition.
وتAnd the decline of the Iraqi currency exchange rate in a banner during the past few days against foreign currencies, particularly the U.S. dollar, raising fears among the citizens of the continuing decline.
Jubouri said, told {Euphrates News} on Sunday that "most of the reasons behind the decline currency back to the neighbors of Iran and Syria, who suffered their economies from the global embargoes have become have a scarcity of hard currency from the dollar and that there are people trading currencies and began to smuggle them."
وHe pointed out that "the onus is on the authorities and the government should make sure the ports, airports and border transfers so as not to be pulled this way and the currency traded in neighboring countries."
و He Jubouri that "may have exacerbated the subject and start inflation in the currency of Iraq and the deteriorating image of the Iraqi dinar after it has been improving in the previous period."
وAnd Some attribute this decline to an asylum Central Bank of Iraq to implement more stringent measures in the recent past on the sales of hard currency, especially the dollar, which has led to a lack of circulation of U.S. currency in the markets and increase demand and thereby increase its value against the dinar, but others believe that currency's decline is due mainly to the withdrawal of America and the growing divide between politicians, threatening the stability of the country. "is over 2:00 p.m.
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British report: Money laundering and officials’ corruption deprive Iraq from its wealth
in Iraq & Dinar Related News
Posted
Friday, 28 June 2013 15:22
altShafaq News / A report issued by the International Center for Development Studies headquartered in the British capital London , confirmed on Friday that Iraq, in which its budget reached to nearly 119 billion $ for this year does not have but what it is converts by the International Monetary Fund from the selling oil revenues in the Development Fund for Iraq.
“The Iraqi economy has been suffering since a period from sharp fluctuations in the exchange rate of dinar that clearly reflected on the economic situation of the Iraqi citizen,” The report, briefed by “Shafaq News” said.
The report attributed this to the money laundering operations as well as financial and administrative corruption in the Iraqi state, which led to Iraq’s loss of nearly three billion dollars in just two months in 2012.
The Central Bank of Iraq (CBI) announced in August of last year that its hard currency reserves amounted to 67 billion $ while the Iraqi government announced that the preventive funds in the Development Fund for Iraq amounted to 18 billion$.
CBI’s reserves of gold has fallen by 20%, in less than a year from nearly 39 tons in 2011 to 31 tons in 2012, while some accuse the current Presidency of the central bank of being responsible for the disappearance of ten tons of gold reserves, Iraq needs to these reserves to enhance the value of the Iraqi dinar funds in money markets abroad.
International Center for Development Studies pointed out that some powerful parties in the Iraqi government are seeking to take advantage of the surplus oil revenues to exploit the reserves built by Iraq during the past ten years to maximize their assets abroad.
The decline in CBI’s reserve is considered a serious matter for the Iraqi economy because it depends on cash revenues from oil sales which means that Iraq's lack of flexibility margin to cope with fluctuations in international oil prices and maintain the required economic balance
Friday, 28 June 2013 15:22
http://www.shafaaq.com/en/business/6520-british-report-money-laundering-and-officials-corruption-deprive-iraq-from-its-wealth-.html