Iraq depends on oil revenues for about 95 percent of its budget.
September 07, 2011
BAGHDAD — The Iraqi Central Bank has announced a large increase in the country’s foreign-currency reserves, RFE/RL’s Radio Free Iraq reports.
Mudher Muhammad Salih, an adviser to Central Bank Governor Sinan al-Shabibi, told RFE/RL on September 6 that the bank’s reserves “are now at about $58 billion.”
He said that was an increase from the $50 billion in foreign currency reserves it had at the end of 2010.
Erbil, September 7 / September (Rn) – Media sources said Wednesday that Iraq and the Arab Monetary Fund in Abu Dhabi signed a supplement to amend the Convention on the restructuring of Baghdad’s debt to the Fund.
The two parties had signed the Convention in June 14, 2008 in the Jordanian capital Amman as part of efforts to help Iraq and reconstruction.
And signed the Supplement and the Iraqi Finance Minister Rafie al-Issawi representatives from Baghdad and the Arab Monetary Fund, Jassem Al-Mannai Director General and Chair of the Board and on the sidelines of a meeting of Arab Ministers of Finance in Abu Dhabi.
Erbil, September 7 / September (Rn) – joined the coalition, the Iraqi leader Iyad Allawi Wednesday to claim the Kurds in the amended draft law of oil and gas controversial between Erbil and Baghdad.
The governments of Arbil and Baghdad have reached an understanding on the disbursement of benefits foreign companies contracted by the territorial Government to develop the oil fields.
But the two sides have yet to reach a final agreement. Did not recognize the oil contracts after the Baghdad region and the draft law of oil and gas in the country is still in disagreement between them.
Invited the Chairman of the Board of Directors of the Bank Hussam economy need slave project delete three zeros from the Iraqi currency, which will increase Iraqi dinar exchange rate, saying it did not cause by raising inflation.
Obeid said in an interview with a reporter (News Agency KCNA) Wednesday: direct action project delete three zeros is currency is a good step by the Central Bank move to work though, would make the dinar value international purchasing.
He ruled that cause project delete zeros in the high inflation rate but lead to raising the rate of exchange for dinar international currencies.
Date: Wednesday, 07-09-2011 11: 00 am
Baghdad (newsletter).Economic expert explained dargham Muhammad Ali because slow conversion to economy (market) because the political climate which contains people don’t they turn to this kind of economy but want to control balmo’ossat and make the General role of the private marginal, pointing out the positive reform project which Iraq envisages sharing (7) by international organizations, for its radical transformation and long-term management.
Mohamed Ali said in an interview with reporter (News Agency news) said Wednesday: “there is a significant problem affecting the Iraqi economy and political interventions and people driving the State don’t they turn to a market economy but trying to control the public institutions that contain economic weight and role of the private sector are making marginal”.
Wednesday 7 September 2011
Decision of the House of Representatives called Mohammed Osman al-Khalidi of the political blocs to agree on a draft law of oil and gas outside the Parliament and then be read.
Khalidi told the News Agency of public opinion (and babysit) saw the need in the prior agreement between the political blocs on the draft law of oil and gas and make the necessary adjustments before reading in the House of Representatives.
On: Wednesday 09/07/2011 13:04
Baghdad (news) .. called the consultant in industrial development Amer Jeweler government to the need to accelerate the issuance of law institutions to support small and medium industrial and granting them loans through the activation of industrial banks in order to promote the industrial sector.
He said the jeweler to the reporter (Agency news) on Wednesday: The government should move towards a law to support industrial enterprises and small and medium-speed and accelerate, in order to promote this vital sector, calling for the need to activate the work of banks, industrial and loans them and be guaranteed by the plant or equipment of the company or the lab, Makdaaly that the project is currently under study and its working procedures will be long to be up to parliament for approval therefore demand accelerated issuance.
07/09/2011 12:40
Baghdad, September 7 / September (Rn) – The Iraqi List led by Iyad Allawi said on Wednesday that it began a campaign to collect signatures of members of the Iraqi Council of Representatives for the purpose of demanding the government approached the United Nations to appeal the decision of the UN Security Council No. 833 on the demarcation of the border between Iraq and Kuwait, are shown that the problems between Iraq and Kuwait can not be solved unless the decision is appealed International.
Iraq had earlier in the board that he had recourse to appeal the decision of the UN Security Council No. 833 in the case of Kuwait continued to proceed with construction of the port of Mubarak’s controversial.
Baghdad, September 7 / Spettmar (Rn) – The Iraqi government, Federal, Wednesday, that the draft law of oil and gas is best for the political support of the oil because it is included to address the problems that stand in front of the oil projects.
Baghdad has at least 3 laws for oil and gas, written by the Maliki government and the Government of Arbil and the House of Representatives since 2007 until today, but none of them were not accepted so far. MPs say that the government version that Barzani called on parliament to reject “the right to confiscate the provinces and regions in cooperation with Baghdad for the management and development of oil fields.”
Baghdad, September 7 / Spettmar (Rn) – The Iraqi government adviser in the Federal, Wednesday, Prime Minister Nuri al-Maliki ordered the formation of a Higher Council for Economic Affairs and the advisory function of economic projects.
A member of the Economic Committee in the Council of Ministers Kamal Sharifi, told the Kurdish news agency (Rn) that “the Iraqi government decided to set up a Higher Council for Energy and the advisory function of the economic projects of experts to the economy and planning.”
He added that the “Supreme Council for Economic Affairs will cost to give recommendations on economic agreements and the volume of trade exchanges between Iraq and the rest of the countries that have economic cooperation.”
Committee announced the economy and investment representative, Tuesday, to discuss the project to delete the zeros of the existing currency, at the same time warning of a setback in the country’s economy in the event of starting to change currency.
The Committee on the economy and investment representative, warned of the occurrence of corruption and money laundering plans to influential figures within the government to do in case of changing the current currency, calling for a review and deliberation on this matter.
Wednesday, 07 September / September 2011 11:25
The MP said the Iraqi List Haider Mulla “It does not escalate the media as much as no characterization, there Mmutalh and procrastination in the implementation of the conventions and select a candidate of the security ministries by state law. He pointed out that” Iraq had submitted their nominations within the period specified in the second meeting of August in two weeks .
Al Mulla said in a statement to all of Iraq [where] the day that “Iraq has provided more than one candidate has not received any official response to date of acceptance or rejection.”
On: Wednesday 09/07/2011 15:31
Baghdad (news) .. The Prime Minister Nuri Kamal al-Maliki, a phone call last night from his Kuwaiti counterpart Sheikh Nasser Al-Mohammad Al-Ahmad Al-Sabah expressed his regret for what happened recently to a number of Iraqi fishermen.
A statement from Maliki’s office has received the Agency (news) copy of it on Wednesday: that Sheikh Sabah stressed the desire of the State of Kuwait to increase cooperation and coordination between the two brotherly countries, particularly at the level of naval forces to avoid the occurrence of such incidents, once again the desire of the Kuwaiti government to cooperate to resolve the outstanding problems .
The statement said the two sides stressed the need for continued dialogue and maintain a positive atmosphere between the two countries.
The latest daily currency auction was held in the Central Bank of Iraq on the 7-SEP-2011. The results were as follows:
| DETAILS | NOTES |
| Number of banks | 25 |
| Auction price selling dinar / US$ | 1170 |
| Auction price buying dinar / US$ | —– |
| Amount sold at auction price (US$) | 181,602,000 |
| Amount purchased at Auction price (US$) | —– |
| Total offers for buying (US$) | 181,602,000 |
| Total offers for selling (US$) | —– |
Erbil, September 7 / September (Rn) – The company Valaris investment set up by Tony Hayward, former chief executive of BP. Me with others, that it was buying a company Genel Enerji of Turkey to drill for oil to create a group of oil and gas are concentrated its activities in the Kurdistan region of Iraq in a deal that will be through the entire stock.
Valaris will be issued new shares worth $ 2.1 billion, according to the MAP agency “Reuters”
And this resolved Hayward, who left his post in me. Me after the oil spill disaster in the Gulf of Mexico, returning to the oil sector.
Valaris said that the enlarged group will be called Genel Enerji and existing shareholders in the Turkish company will own half the group.
eighth Governor of Basra. Abdul Samad behind all the efforts made by the U.S. Agency for International Development in the success of a lot of things that relate to projects and infrastructure development to create a democratic atmosphere in the province of Basra.
Abdul Samad Al voice of Basra during a meeting with a representative of the U.S. Agency for development of sports bucket (Armand as the light) We as a government, a local in the province of Basra appreciate all the efforts and hope that there is active participation between Iraq and the United States either stayed or came out of Iraq.
