Posts Tagged ‘Economy of Iraq’

International Monetary Fund (IMF) confirms that the Iraqi economy still has a “weakness”

Posted: May 22, 2013 in Iraqi Dinar/Politics
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Editor: AJ, RS 05/22/2013 16:21

Urged the International Monetary Fund (IMF), on Wednesday, Iraq to “take remedial action in fiscal policy” to improve the levels of pension for citizens, and between the Iraqi economy “still suffers from weaknesses” represented “the small size of non-oil sector and high unemployment,” noting The Iraqi Central Bank reserves reached 70 billion), “the end of 2012.

A statement issued by the International Monetary Fund (IMF) in the quarterly report on developments in the economic and political situation in Iraq, briefed the (long-Presse), a copy of it, that “the executive body of the Fund, which prepared the report in accordance with the Article IV of the Fund with Iraqi officials, confirms that the Iraqi economy is still suffering from weakness, “and that” weaknesses, represented by the small size of the non-oil sector and high unemployment, and control of the public sector and the weakness of the business environment. ” (more…)

Iraqi private bankers hold Ministry of Finance, CBI responsible for IQD decline; Banks and citizens threaten protests

Posted: May 17, 2013 in Iraqi Dinar/Politics
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Screen Shot 2013-05-17 at 9.58.05 AMEditor: BK, BS 15.5.2013 17:56

Download bankers and economies, on Wednesday, the Ministry of Finance and Central Bank of Iraq responsible for the decline and the reality of private banks, local, while accusing the latter encouragement of Arab Banks and Iran at the expense of Iraq, and threatened to organize a sit-If you do not amend the laws to their work, he saw an economic analyst, that “the current circumstances do not allowed to go towards investment banks because the banking culture “is still lacking.” (more…)

Iraq Commerce Meeting Discussed WTO Issues: Members Agree Iraq Needs WTO Membership; But Laws Need Amended

Posted: May 17, 2013 in Iraqi Dinar/Politics
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Screen Shot 2013-05-17 at 10.04.08 AMSpecialists emphasize the need for Iraq to join the World Trade Organization and businessmen: will not join even after fifty years if laws do not change

Author: TZ
Editor: AJ, RS 13/05/2013 20:04

Confirmed the deal with matters relating trade in the province of Diwaniyah on Monday, “Iraq’s need” to join the World Trade Organization, while confirmed by the Ministry of Commerce said joining the organization “will move the Iraqi economy,” “ruled out” businessmen the possibility of it on the ground until “after fifty years, “and attributed the cause to” the absence of legislation “in a position to put Iraq into the international system, demanding the cancellation of” the Ministry of Commerce. ” (more…)

The current session of Parliament did not succeed in passing important economic laws

Posted: May 14, 2013 in Iraqi Dinar/Politics
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Range – 05/14/2013

See parliamentarians specialists in economic affairs that the current parliament did not succeed in passing laws important economic, pointing out that the parliamentary session is nearing completion and the percentage of pass laws entrusted to him did not exceed half.

said a member of the Oil and Energy Committee National Alliance MP Furat Mohsen al-Shara that “the laws economic task upon which the country’s economy as law of oil and gas, mostly did not recognize due to the worsening political problems. ” (more…)

Economist calls for the adoption of the oil and gas reserve of the Central Bank economist

Posted: May 12, 2013 in Iraqi Dinar/Politics
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May 11, 2013, 1:43 pm
Economic expert called on behalf of Jamil Antoine, on Saturday, the central bank to adopt oil and gas Kkhozan the reserves instead of gold and the dollar, stressing that the value of oil exports during the year twice all the gold reserves in the country. (more…)

Iraqi economist says independent CBI is required and desirable; Need to mesh with role of GOI

Posted: May 11, 2013 in Iraqi Dinar/Politics
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The independence of the Central Bank

11/05/2013 12:00 AM

Economist reported that the independence of the Central Bank is required and desirable, provided that meshes with the role of government supervision. (more…)

Iraq is approaching from the global economic blocs; Iraq is calling on specialists and experts to help aid Iraq’s accession to the WTO

Posted: May 6, 2013 in Iraqi Dinar/Politics
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Screen Shot 2013-03-04 at 11.21.18 AM

 

Al-Sabah – 05/06/2013 – 12:59

 

with Iraq near economic blocs World by subscribing to the competent international organizations to trade and support the orientations of the transition to a free market,

 

increased calls for specialists and experts to pass laws to help organize institutional work, which still depends legislation old has attributed a researcher at the Economic Affairs reasons for the delay Iraq’s accession to the WTO to fear of developing countries, including Iraq’s foot on the application of the requirements to join leaving a negative impact on the economy and led to cases of recession, unemployment and a shortage of state revenue. (more…)

Assem Jihad: oil press is an important factor to reflect what goes on oil and energy in Iraq

Posted: May 5, 2013 in Iraqi Dinar/Politics
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04-05-2013 02:16 PM

Baghdad (newsletter). Called spokesman Assem Jihad, the oil Ministry to the attention to press Iraq’s oil for delivery of information to the petroleum and energy sector to people that Iraq possessed large oil reserves.

Jihad said the Organization Internews about press coverage and was attended by Iraq’s oil (News Agency): that Iraqi crude after 2003 became the focus of attention of all the media or other organizations and States, due to its Iraq oil stocks estimated at 500 billion barrels, rising above the (150) billion barrels, saying those numbers are growing. (more…)

Parliament plans to pass a law on customs tariff

Posted: April 28, 2013 in Iraqi Dinar/Politics
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27/4/13

After the legislative recess

The parliamentary Economic Committee intends to pass the Bill after the recess of the customs tariff legislation in cooperation with the Finance Committee, according to the Committee, this Bill will bring positive results to protect the consumer, trader and strengthen the country’s economy through unification of taxes. (more…)

Economist: political problems caused large losses for the Iraqi economy

Posted: April 28, 2013 in Iraqi Dinar/Politics
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28-04-2013 07:36 AM

Baghdad (newsletter). Warned Economist Abdul Sattar Al-Hashemi, of wheel stops the economy as a result of the continuing political problems and popular demonstrations of some provinces, because they were great economic losses to the country.

He said al-Hashimi (News Agency): that political differences among the parliamentary blocs and sit-ins for some provinces directly affected the economy and the advent of global investment firms. (more…)

Three zeros to be cancelled from Iraqi currency, says MP

Posted: April 17, 2013 in Iraqi Dinar/Politics
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1 USD = 1163.00 IQD

16 Apr 2013
Parliamentary Finance Commission MP stated that the Central Bank of Iraq will soon cancel the zeros from the Iraqi currency. MP Abdul Hussein al-Yassiri revealed that it will happen by this as the Central Bank of Iraq is taking all necessary steps to convert this plan into reality. (more…)

Economist are skeptical that massive CBI reserves will not work without exploitation of wise and independent

Posted: April 17, 2013 in Iraqi Dinar/Politics
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17-04-2013 12:32 PM

Baghdad (newsletter). There is no doubt that the national economy is surrounded by many potential challenges as declining oil sales or security tensions, but experts in finance and economy dissipated such fears two documents that the Central Bank has a large reserve of hard currency and gold being able to confront the mightiest economic shocks anticipated and curb inflation.

He said financial expert Samir Al-nasiri (News Agency): the Central Bank can maintain the stability of the national economy through its financial reserve, noting that the Central Bank’s reserves record over the past year 2012 top the Bank on Iraq and is 67 billion dollars, so there is no doubt the Central Bank’s capacity to deal with any economic fluctuations. (more…)

Iraq’s economy after the invasion

Posted: April 11, 2013 in Iraqi Dinar/Politics
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Economy

11-04-2013 12:53 PM

Iraq’s economy is still ten years after the invasion which suffers legacy of the war and its aftermath of the repercussions have affected the lives of millions of Iraqis .. However it is hoped that Iraq can overcome those difficulties depending on its oil wealth. (more…)

CBI: “a statistical error in the reserve of gold has been corrected”

Posted: April 10, 2013 in Iraqi Dinar/Politics
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The central bank of Iraq, on Wednesday, for what he described as “an error in statistical data on Baanaatih of gold made by the International Monetary Fund (IMF) has been corrected.”

Confirming the presence of systematic targeting of its performance, and that it will not tolerate the targeting.

The bank said in a press statement, said that “the source of discrepancies in the data related with the Central Bank of gold reserves to the International Monetary Fund is wrong statistical exchange in the data submitted to the International Monetary Fund initially, and was corrected in the second report of the Fund,” noting that ” There were no treatment to buy or sell at this stage. ” (more…)

Iraq Ministry of Planning: Average annual per capita income in Iraq have arrived at about four thousand dollars

Posted: March 28, 2013 in Iraqi Dinar/Politics
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Ministry of Planning announced that the average annual per capita income in Iraq have arrived at about four thousand dollars.

The ministry spokesman Abdul Zahra al-Hindawi said that “this index rise on economic growth of the country and improve the status of the Iraqi citizen who was average annual income does not exceed four hundred dollars in 2004.”

http://bit.ly/YIJGXj

American Business Council discuss tax system with Iraq Tax Authority

Posted: March 27, 2013 in Iraqi Dinar/Politics
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Published on Wednesday, March 27 / March 2013 18:44

The Ministry of Finance announced the start of talks between the General Authority for taxes on Thursday with the U.S. Business Council in Iraq. (more…)

Economic Committee Member: CBI tightened control of foreign currency transferred outside the country

Posted: March 26, 2013 in Iraqi Dinar/Politics
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Screen Shot 2013-03-26 at 12.38.56 PM26-03-2013 12:55 PM

Member of the Committee for economy and investment Deputy//Amer winner, the Central Bank tightened control of foreign currency remitted out of the country for the purpose of imports, the fact that there is money to prevent the entry of goods to the country.

A winner (News Agency): the Central Bank is required to tighten control on the sale of hard currency operations and other operations transferred to the outside, because there are some foreign currency funds transferred abroad under the pretext of import goods and in fact there is no goods and materials come to the country. (more…)

Economic Committee Member: Work of banks in Iraq; Not in line with the country’s economic growth

Posted: March 26, 2013 in Iraqi Dinar/Politics
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witnessing government and private banks in the country confusion great in their work as a result of the lack of a strategic plan with the government, as was confirmed by some officials in those banks that if the situation continues as it is now, those banks Stdmahl and then fade.

carried Member Economic Committee in the House of Representatives Abdul Hussein Abtan “central government responsibility mismanagement economic profile in the country,” asserting that “the absence of vision the government’s economic reflected negatively on all institutions, private banks and local banks.” (more…)

IMF: the structure of the Iraqi economy is still at risk

Posted: March 24, 2013 in Iraqi Dinar/Politics
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International Monetary Fund

Published on Saturday, March 23 / ​​March 2013 11:37
The International Monetary Fund said on Saturday that Iraqi oil exports spurred economic growth, the Iraqi economic structure Mibaka Iraq in the circle of suspicion.

A statement by the International Monetary Fund got “obelisk”, a copy of which, following the conclusion of a comprehensive assessment of the Iraqi economy, “The structural economic Iraqi still suffer from weak seriously in the economic field and especially since the unemployment rate is high and the business climate bad as weaker non-oil sector.” (more…)

IMF: Iraq preventive balances rose to $18 billion, but this is not enough to protect

Posted: March 23, 2013 in Iraqi Dinar/Politics
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2013/03/23 15:16

International Monetary Fund said that funds preventive Development Fund for Iraq rose in 2012 to $ 18 billion, and pointed out that this increase came from the “oil revenues unexpected,” in calling the Iraqi government to end the control of banks owned by the State on the banking sector, He stressed the need for the Iraq strengthening public financial institutions to ensure efficiency and transparency in the use of oil revenues. (more…)

IMF expects economic growth in Iraq to grow by 9%; Calls on Iraq to support the non-oil sectors

Posted: March 22, 2013 in Iraqi Dinar/Politics
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International Monetary Fund predicted to witness economic growth in Iraq during the current year 2013 increased by 9 percent due to the rapid growth of the definitive oil in the country, while calling the Iraqi government to focus private sectors other than oil to secure the balance of economic not be subject to oil production and fluctuations world prices.

The Fund in a report issued on Thursday following the end of consultations in Amman between a delegation of the Fund and the Iraqi delegation headed by VMware Planning Ali Shukri, and seen (long-Presse) it said that “is expected to grow the Iraqi economy rate of 9% through 2013, especially in light of the increase Rapid oil production significantly, “noting that” economic growth rate of 8% during the year 2012, reinforced by higher oil production. ” (more…)

Experts warn of deteriorating Iraqi currency by deleting zeros

Posted: March 20, 2013 in Iraqi Dinar/Politics
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19/03/2013 06: 47
Iraqi economists warned of a possible collapse of the national currency when applying the draft three zeros from the currency, deletion, stressing at the same time if he was deleting zeroes from the Iraqi currency at present would be interpreted so many risks because of poor conditions in the country, instability, insecurity and corruption, noting that this process is not possible at present because it will lead to a major crisis in the Iraqi economy. (more…)

Iraqi economist to meet March 30-April 1to discuss Iraq monetary policy, foreign investment, and oil management

Posted: March 15, 2013 in Iraqi Dinar/Politics
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Iraqi politicians and economists are looking at a monetary policy conference in Beirut, development and energy
Published on Friday, 15 March / March 2013 15:21

Held network of Iraqi economists annual conference first, in Beirut, for a period of 30 this March to the first of April next to discuss ways to achieve the priority of the Iraqi economy and sustainable economic development and to mobilize expertise and competencies Iraqi economic and engineering, especially migratory them from economists and experts oilfields and engineers, and linking them with their colleagues at home to establish a scientific reference economic serve to rebuild the economy . (more…)

CBI announces its intention to take decisions in order to achieve stability of the exchange rates of foreign currencies

Posted: March 15, 2013 in Iraqi Dinar/Politics
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Published on Thursday, March 14 / March 2013 12:48

CBI said, Thursday, he was in the process of implementing a number of decisions aimed at stabilizing the foreign currency exchange rates, stressing that responsible for maintaining this stability commensurate with concern for the stability of the dinar exchange rate according to data of the Iraqi economy. (more…)

Member of Economic Committee: Iraq should be exploited to develop economy

Posted: March 15, 2013 in Iraqi Dinar/Politics
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Attorney Stephen: Iraq is a stretch for 30 years and should be exploited to develop the economy

Baghdad (newsletter). Member of the Committee for economy and investment/MP Ibrahim Al-Rikabi, that Iraq is an investment environment for more than 30 years, it has elements of all economic sectors, as well as integrated infrastructure is missing and which required reconstruction. (more…)

CBI announces its intention to take decisions in order to achieve stability of the exchange rates of foreign currencies

Posted: March 14, 2013 in Iraqi Dinar/Politics
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Published on Thursday, March 14 / March 2013 12:48

CBI said, Thursday, he was in the process of implementing a number of decisions aimed at stabilizing the foreign currency exchange rates, stressing that responsible for maintaining this stability commensurate with concern for the stability of the dinar exchange rate according to data of the Iraqi economy.

The bank said in a statement obtained by “obelisk”, a copy of which he was “closely following the changes in exchange rates in the domestic market and the high price of foreign currency in the secondary markets in Iraq regardless of the reasons for these changes and sources and intentions manipulated, the Bank remains is responsible for stability and commensurate with concern for the stability of the dinar exchange rate according to the data of the Iraqi economy. ” (more…)

Deputy PM: Enacting Oil and Gas Law has Become a Necessity; National Alliance priority

Posted: March 13, 2013 in Iraqi Dinar/Politics
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Deputy Prime Minister: National Alliance will work to pass the oil law to resolve all differences with Iraqi Kurdistan
Published on Wednesday, March 13 / March 2013 13:13

Draw MP for the coalition of state law, Abdul Salam al-Maliki, Wednesday, that speed up enactment of a law of oil and gas has become a priority program of the National Alliance, noting that the law was passed will resolve all disputes between the central government on the one hand and the Kurdistan region of Iraq and the rest of the provinces oil hand other. (more…)

Editorial: The Iraqi economy from bad to worse

Posted: March 12, 2013 in Iraqi Dinar/Politics
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11/03/13 09: 27
Don’t imagine the Iraqis in 2003, even opponents of the current political system, to go 10 years without improved even slightly on the economic situation after at least $ 700 billion from oil revenues. They said that if the economy and infrastructure in worse shape than they were 10 years ago.

And the Iraqi economy suffers from a clear lag because of rampant corruption in all its facets by taxed by the State and hampered development plans and economic visions that would improve the country’s economy and make it among the economically advanced countries as observers of economic opinion. (more…)

Banking Expert: Iraq banking sector has great potential to compete with global banks; But still faces challenges ahead

Posted: March 11, 2013 in Iraqi Dinar/Politics
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Banker: the banking sector has the potential to qualify to compete with global banks
Date: Sunday 03/10/2013 06:21 pm

Likely banking expert Mohsen Ali, the development of the banking sector and promotion in the coming years and make it a global competitor, what possessed of great potential, calling “to creating a solid legislative environment to support this important sector. (more…)

Lack of planning in Iraq weakens growth

Posted: March 11, 2013 in Iraqi Dinar/Politics
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11-03-2013 10:24 AM

Dean said the Iraqi Institute for Economic Reform and financial expert Kamal Basri, that the fiscal revenue estimate of Iraq’s oil «is not based on the study of global markets, the lack of specialized economic unit are able to predict the future, thus determine the size of demand and oil prices.

He added that «the availability of such a study, spare Iraq the dangers of oil revenue volatility, as happened in the global financial crisis. (more…)

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