Parliamentary Economic reveal a proposal to create a sovereign wealth fund to attract investment

[yota691]

Parliamentary Economic reveal a proposal to create a sovereign wealth fund to attract investment

 

Saturday April 25, 2015 13:20

 

 

 

 

Alsumaria News / Baghdad

Commission revealed the economy and investment parliamentary Saturday, its intention to submit a proposal law establishing a sovereign wealth fund to attract investment in Iraq, while showed that this fund will be linked to the International Monetary Fund to give guarantees to investors.
 

A member of the committee MP proof Almamori in an interview with the Sumerian's News, "The Commission has adopted a proposal to the law establishing the sovereign wealth fund of the Presidency of the Council of Representatives for approval," explaining that "this fund exists in neighboring countries and more than 100 countries, and works to attract investments into the country." .

 

 

 

He added that "the fund comes through the financial allocation of the financial budget or from other sources," noting that "the fund may be a common link between the Central Bank of Iraq and the Iraqi government, as well as have a link to the International Labour Fund." 
 

He Almamori, that "the purpose of linking the International Monetary Fund, is to give guarantees or immunity to foreign investors when he came to Iraq, because of a lack of confidence as a result of the country's situation," noting that "the management of the Fund is through her company a certain percentage."
 

Almamori He pointed to the "Committee of Economy and investment parliamentary meetings and seminars will be held with Iraqi economists and government agencies concerned, to have their views taken and included before the law passed."
 

It is noteworthy that "sovereign wealth" fund, is owned fund by the state consists of assets such as land or stocks, bonds or other investment devices, and can be described these funds entities runs surpluses state for investment, a group of money is worth billions of dollars invested by states stocks and bonds.

 

 

[Rabbi]

This MP on the Economic Committee is saying that they've approved this proposed law that connects the CBI and the GOI to the IMF's "wealth fund" and Intl. Labor Fund.  This is EXACTLY what is needed to attract investment money into Iraq.  This is kinda like a world-wide FDIC for billionaires.  The passage of this law will put Iraq on a par with all of these other countries with regard to attracting investment capital. And now, it's been presented from the Economic Committee to Jabouri to be put on the Parliament agenda.  It'll be interesting to see how quickly this law gets as it goes through their laborious Parliamentary procedure, as well as how much press it gets.  

[skeetdog]

Thanks Yota...Those meetin's Abadi had with the business entities are startin' to materialize...The biggest link visible is the security of investment in Iraq through a security-fund...TPTB moves another piece in their little 'Chess' game...

[new york kevin]

Is attracting business to Iraq the pronlem, or not paying them according to the contracts they sign once it comes time to get paid?

[sandfly]

THANKS

[k98nights]

  Parliamentary Economic reveal a proposal to create a sovereign wealth fund to attract investment  

 

   

Posted       25/04/2015 12:13 PM

 

Babinaoz / agencies: 

Revealed to the Committee of Economy and investment parliamentary Saturday, its intention to submit a proposal law establishing a sovereign wealth fund to attract investment in Iraq, while showed that this fund will be linked to the International Monetary Fund to give guarantees to investors.A member of the committee MP proof Almamori in an interview with the Sumerian's News, "The Committee adopted submit a proposed law to establish a sovereign wealth fund for the Presidency of the Council of Representatives for approval, "explaining that" this fund exists in neighboring countries and more than 100 countries, and works to attract investments into the country. " newspaper: former ministers fled billions of dollars and Iraq billion recovered from the frozen funds , and added, "The fund comes through the financial allocation of the financial budget or from other sources," noting that "the Fund link may be shared between the Central Bank of Iraq and the Iraqi government, as well as have a link to the International Labour Fund." He continued Almamori, that "the purpose of the link International Monetary Fund, is to give guarantees or immunity to foreign investors when he came to Iraq, because of a lack of confidence as a result of the country's situation, "noting that" the management of the Fund is through her ​​company a certain percentage. " Almamori He pointed to the "Committee of Economy and investment parliamentary hold meetings and seminars with economists Iraqi government agencies concerned, to have their views taken and included law before approval. " It is noteworthy that "sovereign wealth" fund, is owned by the Fund by the state consists of assets such as land or stocks, bonds or other investment devices, and can be described these funds entities runs surpluses state of for investment, a group of money is worth billions of dollars invested by states in stocks and bonds. 

 

http://www.babnews.com/inp/view.asp?ID=91987

 

[Laid Back]

Diversification of the economy

Developing the private sector

Attracting investment to the country

Go Iraq..... Keep moving forward

[Boozer]

MAY 4th

[justchecking123]

:0 pretty big news if the news is accurate.

[Jaygo]

MAY 4th

?

[10 YEARS LATER]

About time . . . would have thought they should have trotted this out long before now, however, this is Iraq and they just do things their own damn way. 

[Markinsa]

A proposal to create a sovereign wealth fund

 

NEW MORNING ECONOMIC AFFAIRS

APRIL 25TH, 2015 946

 

Parliamentary Economy: associated with «International Monetary» to ensure investments

 

Baghdad's new morning:

 

A commission of economy and investment representative, on Saturday, its intention to submit a proposed law to establish a sovereign wealth fund to attract investment in Iraq, as shown that this fund will be linked to the International Monetary Fund to give guarantees to investors. 

 

A member of the committee MP proof Almamori in a press interview, said that «the Commission adopted a provision of a proposed law to establish a sovereign wealth fund for the presidency of the Council of Representatives for approval ». 

 

He added that «this fund exists in neighboring countries and more than 100 countries, and works to attract investments into the country». 

 

He explained that «the fund comes through the financial allocation of the financial budget or from sources Others », indicating that« the Fund link may be shared between the Central Bank of Iraq and the government, as well as have a link to the International Labour Fund »

. 

He Almamori, that «the purpose of linking the International Monetary Fund, is to give guarantees or immunity to foreign investors when he came to Iraq, because of lack of confidence as a result of the country's situation ».

 

And that «Fund management is through a company that has a certain percentage». 

 

He Almamori, in an interview with the Sumerian's News, that «the economic and investment commission parliamentary hold meetings and seminars with Iraqi economists and government agencies concerned, to have their views taken and included law Before approval ». 

 

It is noteworthy that fund «sovereign wealth», is owned fund by the state consists of assets such as land or stocks, bonds or other investment devices, and can be described these funds entities runs surpluses state for investment, a group of funds are a multi-billion dollars invested by states in stocks and bonds. 

 

Analysts had said that «Exporting Countries to energy materials which accumulated billions of dollars in windfall profits in the sovereign investment funds may have to drag them with the decline in oil export revenues, which a strong jolt may occur in stocks, bonds and real estate markets across the World ». 

 

and demanding economy Iraqi experts to establish an independent and effective sovereign fund has administrative efficiencies, in order to give the future generation a good standard of living. 

They resorted Iran's sovereign wealth fund in a move to counter the impact of the decline in world oil prices on the economy. 

 

He noted economist appearance of Mohammed Saleh to «the remnants of the assets Memorandum of Understanding on the oil-for-food and other sovereign funds program after 2003 ». 

 

He adds «The research hypothesis on the principle that the risk of Iraq Development Fund and the promise of a sovereign fund for stability, not moving objectives and method of administration that is actually a fund being one of SWFs models, As far as the fund precautionary to face the vagaries of oil revenues in the annual budget since mid-2003 until the present time ». 

 

and sovereign wealth funds that are based on oil export revenues active head of the international finance as reserves by more than five trillion dollars of assets, according to estimates by David Spiegel expert Emerging Markets at BNP Paribas. 

 

The money these funds usually divided into different baskets, each serving a specific function and help to promote government spending in times of falling export revenue windfall profits or management over the decades for future generations. 

 

At the global level, The Government of Norway said, last October, they may raise your ceiling as much as it may be used by its sovereign wealth fund to cope with the economic effects of falling oil prices. 

Oil has fallen more than $ 20 per barrel since then. 

 

But in Russia, the decline in oil prices increases the pressure to be used for sovereign wealth funds. Moscow is looking forward already to fund the national wealth of the $ 82 billion as a source of funding in cases of emergency for companies affected by the Western sanctions imposed on Moscow because of its interference in Ukraine. 

 

and holds stabilization funds in the habit of more low-risk investment instruments, especially bonds, which can be quickly converted to funds liquid. 

 

He said Spiegel «the bulk of the funds (stabilization funds) is being invested in high-quality, many of which are tools in US Treasury bonds and other government bonds». 

 

The transfer Spiegel International Monetary Fund estimates that the money reinvested proceeds from oil exports make return bonds US Treasury less by 50 basis points, almost all the likely level without these investments. 

 

He Spiegel that sovereign wealth funds «also invest in the stock markets to some extent», pointed out that Nigeria, Kazakhstan, Kuwait and Iran are examples of countries where these public treasury of the state funds help times of need. 

 

The worst possible scenarios for the oil-producing countries with the continued decline in oil prices for a long time is a possibility that governments are forced to use funds that are managed for future generations. 

 

This includes the type of sovereign funds are often more long investment tools-term and less liquid, such as real estate. Alsiadeon investors participated in some of the biggest real estate deals and infrastructure this year.

[sandfly]

THANKS