This quarter, the IMF approved disbursement of the second tranche of a $3.77 billion Stand-By Arrangement to help ensure the country’s macroeconomic stability and provide a framework for structural reforms. The payment of $471 million brought the amount Iraq has drawn under the arrangement to about 1.7 billion. The disbursement followed an IMF review of Iraq’s economic performance that drew an overall positive appraisal. The review concluded, “Iraq has maintained macroeconomic stability under difficult external and internal circumstances, while making efforts to rebuild economic institutions.” the IMF noted that “decisive efforts” to rebuild key economic institutions were “critical” for private sector development. The IMF also noted that a recently constituted Bank Reconciliation Unit (BRU) was working with an external audit firm and IMF staff to remove Saddam-era liabilities from the balance sheets of the country’s two largest lending institutions, the state-owned Raidain and Rasheed Banks. The GOI has recognized the liabilities as external debt and made them part of Iraq’s external debt restructuring. Restructuring the two banks is necessary to better support private sector development. the BRU is also working on a plan to relieve both banks of non-performing loans made to now-defunct SOEs.
Archive for April, 2011
Tags: Central Bank of Iraq, Financial services, International Monetary Fund, Iraq, Iraqi dinar, Sinan Al-Shabibi, Trade Bank of Iraq, World Bank
Tags: Central Bank of Iraq, Development Fund for Iraq, Iraq, Republic of Iraq, Settlement (litigation), United Nations Security Council, United States, United States of America
On: Saturday 04/30/2011 20:22
He said the issue will not resolve Iraq’s money at risk middle of this year
The central bank of Iraq that Iraq’s interest now to sign the Convention on the settlement of claims with the United States of America, its government, which stands now in a critical relation to money deposited with Iraq, which will lose the protection of the middle of this year and are offered for confiscated for the settlement of claims of creditors
So far, Iraq does not know the numbers are not huge amount of money that Italponbha.
MP Musawi: Maliki Can Submit the Names of Security Ministers This Week or Before the Legislative Recess on May 14Posted: April 30, 2011 in Iraqi Dinar/Politics
Tags: Council of Representatives of Iraq, iraqi list, Maliki, National security, Nouri al-Maliki, Nuri al-Maliki, Political coalition, Security
Expected to block the Liberal MP for the names of al-Musawi, al-Maliki to present this week, security minister of the Council of Representatives.
She said: “Maliki is committed to provide security minister this week, or before the legislative recess on May 14 next.”
Tags: American University, Economy of Iraq, Gulf Research Center, Iraq, kuwait, middle east, Private sector, World Bank
Do you succeed in activating the Kuwait Economic Partnership with Iraq?
On: Saturday 04/30/2011 22:17
D. Ibrahim Bahr al-Ulum
It is a pleasure to participate in this event which is being held at the initiative of the private sector, in cooperation with the Gulf Research Center at the American University in Kuwait. And the convening of this symposium in April, where people are celebrating the eighth anniversary of Iraq to topple Saddam’s regime in 2003, has many political, economic, and hope that is a good sign for the flourishing relations between the two countries:
Tags: bank, Central Bank of Iraq, Financial services, Iraq, Iraqi dinar, Japan, middle east, United States
Rasheed Bank announced the granting of an advance for the start of the five million dinars Moazvin Adabiarham who came to the bank before you stop the granting of such loans in the middle of the fifth month in 2009.
The general director of the Rasheed Bank Kazem fistula in a special statement (news agency, Baghdad International) that the bank began to grant advance five million dinars for the staff who provided Adabiarham to manage the bank before the suspension order Tmsheetha them according to the difficult humanitarian conditions they are experiencing now and will be presented to Council Administration for their implementation, indicating that there is no provision for a new advance, but this will be the old transactions that previously provided are covered by this at all.
Tags: Central Bank of Iraq, Development Fund for Iraq, Iraq, National security, Politics of Iraq, United Nation, United Nations Security Council, United States
On: Saturday 04/30/2011 22:45
Can not separate the future of Iraq and countries relation Jawaro the international community, led by the United States without checking the national interest and national security file. Before entering into the subject of national interest, I will work on national security briefing file.
Tags: Arab League, Baghdad, Central Bank of Iraq, Iraq, Iraqi government, Italy, middle east, Politics of Iraq
She and the Italian Foreign Ministry, Saturday, concern from the change of Iraqi government decisions that are related to political issues often, while ruled out that the Political instability or a change of government to review the negotiations and contracts signed by the Italian companies invested in Iraq, warned him that the review of contracts long-term with the change of governments will pay those companies and others to not work in Iraq again.
Tags: Conscription, Council of Representatives of Iraq, Iraq, Iraqi Council of Representatives, Law, Reading, United States, United States Department of Homeland Security
BAGHDAD (Babuz): Complete the Iraqi Council of Representatives in a regular session held on the first reading of the draft four important security laws.
This project is a project of the law and the Department of Homeland Security, and the draft Law on the Ministry of Defense and the draft law decorations and medals and the draft law for the possession of weapons.
Tags: Conscription, Constitutional convention (political custom), Council of Representatives of Iraq, Federal government of the United States, Iraq, Republic of Iraq, Sinan Al-Shabibi, United States
Raised the presidency of the Iraqi Council of Representatives, Saturday, parliament normal 60 to the day after tomorrow, while the parliamentary source that the meeting witnessed a majority vote to ratify the Convention on the settlement of claims between the Government of the Republic of Iraq and the Government of the United States, hosting the Ministers of Foreign Affairs, Finance and the Governor of the Central Bank.
Tags: Babylon, Babylon University, Business and Economy, Central Bank of Iraq, Economic, Iraq, Iraqi dinar, middle east
April 28 2011
The Faculty of Management and Economics at the University of Babylon, a scientific symposium entitled raise zeros from Iraqi dinar and its positive and negative was attended by Advisor to the Iraqi Central Bank and a number of economists and those interested in economic affairs in Babylon.
Tags: al-Qaeda, Arab League, Arab World, Baghdad, Iraq, middle east, Samarra, United States
Baghdad, 30 April (Rn) – The Ministry of Displacement and Migration, Iraq, Saturday, for it was in constant coordination with all the Iraqi embassies in Arab countries to facilitate the voluntary return of Iraqis, noting that there are instructions issued to all embassies with the assistance of resident Iraqis wishing to return.
The spokeswoman said the ministry Hamdiya Najaf, told the Kurdish news agency (Rn), “The Ministry of Displacement and Migration and developed real-time processors for families displaced to the Arab countries experiencing conditions is stable, wishing to return to Iraq in coordination with other stakeholders.”
Parliament voted by majority to ratify the Convention on the settlement of claims between Iraq and the USPosted: April 30, 2011 in Iraqi Dinar/Politics
Tags: Conscription, Council of Representatives of Iraq, Federal government of the United States, Iraq, Iraqi Council of Representatives, middle east, Reading, Republic of Iraq
Voice of Iraqi Council of Representatives, Saturday, by majority vote to ratify the Convention on the settlement of claims between the Government of the Republic of Iraq and the Government of the United States.
The source said in an interview with “Alsumaria News”, “The House of Representatives voted at its 60, which was held today, chaired by President of parliament, Osama Najafi and the presence of 206 deputies by majority vote to ratify the Convention on the settlement of claims between the Government of the Republic of Iraq and the Government of the United States.”
Tags: Amr Moussa, Arab, Arab League, Arab people, Arab World, Baghdad, Iraq, Zine El Abidine Ben Ali
Suggested the Ministry of State for Foreign Affairs, on Saturday, to postpone the Arab summit to be held in Baghdad from March 2012, asserting that Iraq was looking forward to take the Arab summit resolutions commensurate with the size of the crises that beset the region.
The Minister of State for Foreign Affairs Ali Alsjeri in an interview for “Alsumaria News”, “likely to be postponed Arab summit to be held in Baghdad to March of next year 2012″, attributing the cause to the “turmoil plaguing some Arab countries.”
Tags: Conscription, Council of Representatives of Iraq, House of Representatives, Iraq, Iraqi Council of Representatives, Reading, Republic of Iraq, United States
The Council of Representatives, Saturday, its the 60, headed by Speaker Osama Najafi and the presence of 206 deputies, with parliamentary source that it will host the Ministers of Foreign Affairs, Finance and the Governor of Central Bank on the ratification of the Convention on the settlement of claims between the Government of the Republic of Iraq and the Government of the United States, as well as the first reading of the number of projects.
Abtan: Hosting the Minister of Foreign Affairs to discuss the Convention on the settlement of claimsPosted: April 30, 2011 in Iraqi Dinar/Politics
Tags: Council of Representatives of Iraq, Hoshyar Zebari, Iraq, Iraqi government, Iraqi people, Member of Parliament, middle east, Politics of Iraq
A member of the Iraqi Council of Representatives bloc MP Shahid Mehrab Abdul Hussein Abtan Sitadhav today that the parliament’s Foreign Minister Hoshyar Zebari to discuss the claims settlement agreement signed by the Government of Iraq with the U.S. side.
Tags: Investment, Iraq, Korea, Member of Parliament, National Alliance, Nouri al-Maliki, Prime Minister of Iraq, South Korea
Criticized by a coalition of state law and the National Alliance MP Mohammed Saadoun Chihod the performance of the investment and failed in its promise to attract international companies to work in the country.
He said Chihod (of the Agency news) said on Saturday that the Investment Authority could not grant any license to any investment company or foreign Arabic to work in Iraq.
Tags: Central Bank of Iraq, Conscription, Council of Representatives of Iraq, Federal government of the United States, Iraq, Iraqi Council of Representatives, Member of Parliament, Ministry of National Security
The MP for the Kurdish coalition, Ashwaq dry Kurdistan News Agency (Rn) announced today that “Today’s meeting will see the first reading of the draft Law on the Ministry of National Security, and the Law of the Ministry of Defense,” pointing out that “the laws submitted by the Commission on Security and Defence.”
Tags: Council of Representatives of Iraq, Economy of Iraq, Iraq, Iraqi Council of Representatives, Member of Parliament, middle east, United Nation, United States
Anbar, 29 April (Rn) – The head of the Economic Committee in the Iraqi parliament on Friday that the law on the protection of the national product and support the national industry will do soon to be the national market for the product popular in the country.
The MP said Ahmed al-Alwani told the Kurdish news agency (Rn) “The Economic Committee in the Iraqi Council of Representatives will consider at its next meeting ways to activate the Law on the Protection of the national product and support the national industry
Tags: Arab League, Arab people, Baghdad, Baghdad government, Hoshyar Zebari, Iraq, Minister of State for Foreign Affairs, Politics of Iraq
Baghdad, 29 April (Rn) – The Minister of State for Foreign Affairs, on Friday, that the Iraqi government would not agree to replace the venue of the coming Arab summit, likely at the same time be held in Baghdad in September next.
Ali Alsjeri of Kurdistan News Agency (Rn) that “Iraq brought an official message to the Arab League rejected the moves by some countries to change the location of the Arab summit in Baghdad and convert it to another place because it means giving up the Arab League for the constants agreed between the Arab countries.”
Dabbagh: the interdependence of economic interests in the region away by the specter of political tensionsPosted: April 29, 2011 in Iraqi Dinar/Politics
Tags: Central Bank of Iraq, Iraq, Iraqi government, Istanbul, Minister of State, Politics of Iraq, Turkey, United Nation
Minister of State said government spokesman Ali al-Dabbagh said Iraq considers that the interdependence of economic interests in the countries of the region and among investors away the specter of political tensions in the region has inherited significant problems.
Tags: Baghdad, Demonstration (people), Government, Iraq, Maliki, middle east, Nouri al-Maliki, Political coalition
Baghdad (news) .. today renewed a demonstration Friday in Tahrir Square to demand better services and the release of innocent detainees.
A reporter Agency (news): We have gathered a large number of citizens in the Tahrir Square to renew the demand for better services and the release of detainees.
Tags: Baghdad, Iraq, James Franklin Jeffrey, Saleh al-Mutlaq, U.S.–Iraq Status of Forces Agreement, United States Ambassador to Iraq, Washington, Withdrawal of U.S. troops from Iraq
Baghdad (news) .. Prime Minister Saleh al-Mutlaq with the U.S. ambassador to Iraq, James Jeffrey ways to implement the strategic framework agreement between Baghdad and Washington.
The statement said al-Mutlaq’s office has received Agency (news) on Thursday:
“The Deputy Prime Minister Saleh al-Mutlaq discussed with the U.S. ambassador to Iraq, James Jeffrey file today the withdrawal of U.S. troops from Iraq and the possibility to terminate or extend the military presence by the end of this year.
April 28 2011
Kuwait Energy Company and the American University of Kuwait (AUK)’s Gulf Studies Center today held a seminar on Kuwait-Iraq relations titled “Kuwait and Iraq together towards a bright future”. Prominent business leaders from both Kuwait and Iraq took part in the seminar held in Safir Hotel in Kuwait City.
The seminar was moderated by the Editor-in-Chief, Mr. Waleed Abdul Latif Al Nisf of Kuwait’s Al Qabas newspaper and included the following speakers:
● Dr. Mohammad Akbar, Director, Gulf Studies Center of the American University of Kuwait
● Dr. Manssour Aboukhamseen, Chairman and Managing Director. Kuwait Energy Company
● Dr. Ibrahim Bahr Aloloum, Member, Iraqi National Alliance and former Minister of Oil
● Mrs. Nabila Al Anjari, General Manager, Leaders Group Consulting and Training
● Mr. Salem Mashkour, Member, Board of Trustees of Media and Communications in Iraq
● Dr. Nabil Yaseen, Iraqi Academic and Researcher
● Dr. Ali Qubian, Senior Lecturer and Consultant, Petroleum Engineering Course Director at London South Bank University
The seminar focused on the role private sector organizations and non-governmental bodies can play in facilitating economic relations between Kuwait and Iraq, agreeing that the private sector has the opportunity of acting as a catalyst for the development of these ties, especially in the fields of tourism, logistics and social relations between the countries.
The seminar was open to visiting and local dignitaries, professionals in Kuwait as well as AUK faculty and students.
Dr. Mohammad Akbar said: “The Gulf Studies Center aims to highlight the importance of the Kuwaiti-Iraqi relations through a number of experts and professionals in different fields. Both countries are united on many fronts, and have seen positive development in relations since the change of regime. There is no doubt these relations will continue to develop and bring benefits to the people of both countries and to other Arab countries. Today, many initiatives have been launched between Kuwait and Iraq, not only on a political front, but also in economy, culture, sports, and social matters. The promotion of dialogue through seminars like the one held today, works to strengthen existing cooperation between the two countries for the benefit of their respective peoples.”
Dr. Manssour Aboukhamseen stated, “Relations between Kuwait and Iraq have a promising future thanks to the recent efforts by both governments and a centuries-old foundation of social and economic ties. Iraq’s energy sector requires financing, expertise and logistical support. It is time now for the private sectors of both countries to work together and collaborate on growing these ties through projects that yield mutual benefit for the people of Kuwait and Iraq.
Aboukhamseen added: “Today’s forum was an absolute success in that regards. We shared ideas and views on how Kuwaiti and Iraqi companies can work together on building Iraq, especially in the areas of project finance, technical expertise, logistical support, as well as tourism and social ties.”
Tags: Baghdad, Central Bank of Iraq, Currency, Federal Deposit Insurance Corporation, Finance Ministry, Iraq, Iraqi dinar, Private bank
Baghdad, 29 April (Rn) – A central bank, the Iraqi government to sweeping reforms of the tax system and improve the performance of the Department of Taxes in the country.
The central bank adviser said the appearance of Mohammed Saleh told the Kurdish news agency (Rn) Friday, said that “the tax system in Iraq, not backward rise of the responsibilities granted by the Ministry of Finance, which cause great economic problems.”
Tags: Education, Honorary degree, Iraq, Korea University, Maliki, Nouri al-Maliki, prime minister, Seoul
BAGHDAD (Iba) .. Awarded the Korea University in Seoul by Prime Minister Nuri Kamal al-Maliki an honorary doctorate degree in political science.
Maliki said in a speech during the ceremony held by the university, said he is a great honor for me to get this certificate and this results in every respect and appreciation.
He added that Iraq is known and the great history that Eetmd to more than six thousand years, but he got a lot of setbacks, not diminished the cultural and scientific effort, but even the role of rights because it subjected to abuse and oppression by dictatorial regimes.
Tags: al-Iraqiya, Ayad Allawi, Iraq, Maliki, Massoud Barzani, national coalition, Nouri al-Maliki, State of Law Coalition
Erbil, April 29 (AKnews)- A leader from the major Iraqi parliamentary bloc, al-Iraqiya, said Thursday his bloc expects the Prime Minister Nouri al-Maliki to settle the dispute over the allocation of security ministries in one week or it will take back confidence from him.
Ziyad Zarb Zubayee told AKnews the situation in Iraq cannot further withstand a government running without security ministers.
Tags: Development Fund for Iraq, Iraq, Iraqi people, Politics of Iraq, Radio Free Iraq, United Nation, United Nations Security Council, United States
With the approach of the expiry date of the mandate of the UN Security Council to the Development Fund for Iraq at the end of next June, is renewed talk about the issue of Iraqi funds abroad and the possibility of exposure to compensation claims in the United States and abroad.
Tags: Central Bank of Iraq, Development Fund for Iraq, Iraq, Politics of Iraq, Radio Free Iraq, United Nation, United Nations Security Council, United States
The Iraqi government announced that it would take action to protect the buyers of Iraqi funds from any lawsuits that could be held against them after the expiry of the mandate of the Security Council on the Development Fund for Iraq in the thirtieth of June.
He said Iraqi government spokesman Ali al-Dabbagh said in a statement Wednesday that the country will open two bank accounts in the United States to manage its oil revenues, one receives all the money belonging to the state, and is managed by the Central Bank of Iraq in full without any international trusteeship, as will be deposited into the account the other five per cent of revenues Iraqi oil to Kuwait, according to the Compensation Fund for Iraq’s international obligations.
Tags: Baghdad, Central Bank of Iraq, Currency, Economy of Iraq, Iraq, Iraqi dinar, middle east, United Nations
Baghdad / Orr News
Fear economic researcher Qasim Jabbar from the tyranny of monetary illusion in the event of psychological delete three zeros from the Iraqi currency, considering that the general situation does not allow it now.
Iraqi dinar, which began his career in the thirties of last century and equated during the seventies three dollars, after the deterioration of Iraq’s invasion of Kuwait in 1990 and the imposition of United Nations economic embargo tough, to lose its value rapidly and up to 3000 dinars per dollar mid-nineties.
Tags: Central Bank of Iraq, Development Fund for Iraq, Geneva, Iraq, Kuwait City, United Nation, United Nations Compensation Commission, United Nations Security Council
28 April 2011 – The United Nations Compensation Commission (UNCC), which settles the damage claims of those who suffered losses due to Iraq’s 1990 invasion of Kuwait, today made $880 million available to nine successful claimants.
The latest round of payments brings the total amount of compensation disbursed by the Commission to $32.2 billion for more than 1.5 million successful claims of individuals, corporations, Governments and international organizations, states a news release.
Successful claims are paid with funds drawn from the UN Compensation Fund, which is funded by a percentage of the proceeds generated by the export sales of Iraqi petroleum and petroleum products.