Posts Tagged ‘International Monetary Fund’

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…)

IMF: Inflation ‘limits room’ for Vietnam rate cuts

Posted: May 6, 2013 in Asian Currency Markets
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Last Updated: Monday, April 29, 2013 05:00:00

The International Monetary Fund is not very hopeful that Vietnam can make further interest rate cuts this year.

“While headline inflation has come down, core inflation (excluding raw food and energy) remains high, limiting the room for rate cuts,” it said in a release at the conclusion of a mission to Hanoi and Ho Chi Minh City from April 8 to 25 for the 2013 Article IV Consultation discussion with Vietnamese authorities. (more…)

Iraq should not be to take advantage of its money, says Global Center for Development Studies

Posted: April 21, 2013 in Iraqi Dinar/Politics
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Iraqi Al-Mustaqbal – 04/16/2013

Future of Iraq confirmed Global Center for Development Studies in London in a report issued by that Iraq is unable to take advantage of his money; because it does not have the budget for this year in the amount of about 119 billion U.S. dollars except what converts revenue from the sale of oil to the so-called “Development Fund for Iraq “of the International Monetary Fund. (more…)

Bank restructuring by the IMF will help support banking sector in Iraq

Posted: April 20, 2013 in Iraqi Dinar/Politics
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Baghdad (newsletter).Member of the Finance Committee, said MP//abdolhossein Al-yasiri, the Rafidain Bank restructuring plan and rational by International Monetary Fund includes four main paragraphs will help to support and develop the country’s banking sector.

He said Al-yasiri (News Agency): the restructuring plan of Government banks and put in good (2007), which formed a Committee headed by the Governor of the Central Bank and Finance Minister and head of the Office of financial supervision, in cooperation with the International Monetary Fund. (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…)

Finance Committee Member: CBI will start measures of deletion of zeros from currency during the current year

Posted: April 13, 2013 in Iraqi Dinar/Politics
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Screen Shot 2013-02-16 at 12.22.47 PMParliamentary Finance: Central Bank starts this year … 13/04/2013 2:18 pm

said parliamentary Finance Committee, the central bank, according to correspondences official start of this year procedures deleting three zeros from the local currency, saying that it would lead to the development of cash transactions and economic international.

A member of the Finance Committee Abdul Hussein al-Yasiri Center Brief for the Iraqi Media Network (IMN) It “According Almkhtabat official with the central bank, it is supposed to start this year Balastaadadt necessary to delete three zeros from the local currency.” (more…)

Chalabi: CBI sales in 2013 are the same that were in the 2012 but dinar deterioration 8%

Posted: April 13, 2013 in Iraqi Dinar/Politics
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Announced the Truth in matches Development Fund of Iraq, on Monday, the central bank sales during the first months of the current year 2013 completely identical with bank sales for the same period of last year 2012, and stressed that the only difference that has been under new management for the bank is the collapse of the price exchange rate of the dinar against the dollar by up to 8% and an increase in inflation. (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…)

Central Bank strongly criticizes those targeting the CBI; Emphasizes follow-up to the legal and economic effects

Posted: April 10, 2013 in Iraqi Dinar/Politics
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Published on Wednesday, April 10 / April 2013 16:59

Criticized the central bank, Wednesday, “systematic attack” on policies to correct the Financial Action Task Force, while he stressed that he would pursue legal and economic implications of such targeting, he stressed that the banking institution should remain independent.

The bank said in a statement obtained by “obelisk”, a copy of which he “since been a change in the management of the Iraqi Central Bank, was expected to face action for change and try to re-Central Bank to its natural role and effective in building the country and its economy and combat opportunities for corruption and destruction institutional and was expected resistance and disrupt this trend. ” (more…)

Financial Committee Chairman: Iraq must abide by the recommendations of the IMF regarding country’s monetary policy

Posted: April 4, 2013 in Iraqi Dinar/Politics
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04-04-2013 12:37 PM

Baghdad (newsletter). Deputy Chairman of the Finance Committee MP/Kurdistan blocs Coalition/Faizullah, the importance of adhering to the recommended by the International Monetary Fund for support and development of the country’s monetary policy. (more…)

World Bank to restructure Iraqi Banks, CBI; Plan viewed as guarantor to IQD restoration (3 articles)

Posted: March 24, 2013 in Iraqi Dinar/Politics
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The World Development Report 2011

Sihail, World Bank’s delegation discuss restructuring Iraqi banks, CBI
Sunday, 24 March 2013 16:40 | | |

Baghdad (AIN) -The First Deputy Speaker of the Iraqi parliament, Qusai al-Sihail, discussed with the delegation of the World Bank, the restructuring of the Iraqi banks and the Central Bank of Iraq. (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 Press Release: IMF Mission Concludes Article IV Discussions with Iraq; Provides Suggestions for Stronger Economy

Posted: March 22, 2013 in Iraqi Dinar/Politics
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IMFLogoPress Release No. 13/87
March 21, 2013

An International Monetary Fund (IMF) mission, led by Mr. Carlo Sdralevich, met with an official Iraqi delegation headed by the Acting Minister of Finance, Dr. Ali Al Shukri, in Amman, Jordan, during March 2-12, 2013 to conduct the Article IV Consultation discussion.

(more…)

IMF welcomes growth in Iraq

Posted: March 22, 2013 in Iraqi Dinar/Politics
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Iraq produced 3.15 million barrels of oil a day and emits 2.5 million barrels

Welcomed the International Monetary Fund , on Thursday, accelerating the pace of growth in Iraq thanks to oil exports , but expressed concern about the points of “structural weaknesses” accumulated in the country, ten years after the U.S. invasion.

He considered the fund said in a statement posted at the end of the mission in Iraq “despite the political and security environment is difficult, Iraq succeeded in maintaining the stability in terms of economic sectors in the last two years.” (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…)

Still no agreement on National Budget; Details of the state budget emerge

Posted: March 3, 2013 in Iraqi Dinar/Politics
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Date: Sunday 03/03/2013 07:35 pm

Hours before the deadline to vote on the state budget for 2013 in the House of Representatives there are no definitive figures of what will be the budget, which is said to have the largest budget in the history of Iraq.

Figure announced by the Council of Ministers when approved budget on 23 October last year before 4 months and 14 days was 138 trillion dinars, equivalent to more than 118 billion dollars and over the past months conducted parliamentary committees and negotiations between the political blocs several amendments to the budget figures but has yet to reach a final formula for approval amid popular Discontent of damage to the citizens due to the delay of the budget. (more…)

World Bank advises Iraq not to rely so much on oil revenues as basis for budget; Drop in oil prices could shock Iraq’s economy

Posted: February 25, 2013 in Iraqi Dinar/Politics
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Screen Shot 2013-02-25 at 11.41.48 AM24/02/2013 (23:00 pm)
World Bank: expense of budgets Iraq, far less than the observed

Revealed the World Bank, on Sunday, that the volume of expenditure of Iraqi budgets far less than the observed where money, and expressed his fear of the danger of adopting the Iraqi budget for oil fully and guesses prices high, and between that any decline in the price of the world’s oil will cause problems large to Iraq, in when confirmed by the Ministry of Planning said that there is no alternative for Iraq but to rely on oil. (more…)

World Bank warns Iraq of the adoption of the budget on the high speculative prices for a barrel of oil; Stressing that any decline will lead to shock and major problems in the country

Posted: February 24, 2013 in Iraqi Dinar/Politics
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Date: Sunday 24/02/2013 08:42 pm

Revealed the World Bank, Sunday, that the volume of spending of Iraqi budgets far less than the observed where money, and expressed his fear of the danger of adopting the Iraqi budget for oil fully and guesses prices high, as revealed the Ministry of Planning, the «subject» Iraq for many «blackmail» Finance after 2003, said the World Bank representative in Iraq Maria Helen in a joint conference with the Minister Alkhtit Iraqi Ali Shukri in the ministry building and attended (range Press), said that «the budget preparation on the price of a barrel of oil set at $ 90 without a maneuver could lead to a shock for Iraq», pointing out that «any drop in the global price of oil could lead to balancing the country to big problems. (more…)

Economists warn Vietnam headed for double-digit inflation

Posted: February 20, 2013 in Asian Currency Markets
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Last Updated: Wednesday, February 13, 2013 02:00:00

After consumer prices rose 1.25 percent last month, analysts warned that the government is unlikely to keep inflation at below 6 percent this year.

Voice of Vietnam radio quoted economists as saying that a double-digit rise in prices is possible this year, posing more challenges to the government’s attempts to stabilize the economy. (more…)

Experts warn exploit the assets of the Central Bank as a cover for local currency

Posted: February 17, 2013 in Iraqi Dinar/Politics
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Warned parliamentarians and experts in regard financial consequences of the exploitation of part of the funds in the central bank in the project development and investment, describing it as “Red Line” as is cover for the local currency, while member suggested the Economic Committee in the House of Representatives Hussein Salman Mura’bi, invest part of the reserves located at the central bank for investment projects in the country. (more…)

IMF: Economic indicators in the Middle East will not change

Posted: February 10, 2013 in Iraqi Dinar/Politics
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Ruled out the International Monetary Fund in any change in economic indicators in the Middle East during the year 2013, which will weigh on oil-importing countries.

The director of the Middle East and Central Asia in the Fund Masood Ahmed said that financial and economic data of the Group of the oil-exporting Gulf, was good last year due to higher oil prices and increased demand for fuel around the world. (more…)

IMF shows comfortable growth rates in Iraq

Posted: February 7, 2013 in Iraqi Dinar/Politics
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Ali Salman – 02/06/2013 – 5:36 pm
The representative of the International Monetary Fund in Iraq Yahia Khairi Said satisfaction rates of economic growth in Iraq, after a meeting with First Deputy Speaker of Parliament Qusay al-Suhail.

A statement issued by the Office of Suhail that the meeting discussed the Fund’s work in Iraq, and his technical assistance in the field of training of competent personnel. (more…)

Iraqi dinar would soon return to what it was prior to 1980 due to global demand: Banking and Finance Ministry Head

Posted: February 3, 2013 in Iraqi Dinar/Politics
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iraqimoneyyy4567898Official: declining reserves of the Central Bank of gold does not affect the rate of the dinar

02/02/2013 11:45:00

The head of the Department of Banking and Finance Ministry Hilal Taan diminishing quantities of central bank reserves of gold does not affect the price of the local currency. (more…)

Economist: need to benefit from IMF recommendations on investment in Iraq to promote it

Posted: February 3, 2013 in Iraqi Dinar/Politics
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Ali Abdullah -03/02/2013

The Economist called Jalil Al-Rubaie, the need to take advantage of the decisions and recommendations issued by the International Monetary Fund for investment in Iraq to develop the investment process and advancement.

Al-Rubaie said in a press statement that the report issued by the World Bank put Iraq in the ranks last among States in the area of investment and select a number of obstacles that hinder the investment process in the country. (more…)

CBI confirms bank reserves of gold about thirty tons

Posted: February 1, 2013 in Iraqi Dinar/Politics
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Published on Friday, 01 February / February 2013 11:00

CBI revealed Friday that its gold reserves at 29.790 tons, denying a decrease in that amount during the past few months, indicating that these reserves have seen stable in recent months.

The bank said in a statement obtained by “obelisk”, a copy of it, that “the central gold reserves witnessed stable over the past months and now stands at 29.790 tons.” (more…)

CBI denies low reserves of gold, Confirms the stability

Posted: February 1, 2013 in Iraqi Dinar/Politics
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Denied the Iraqi Central Bank, Friday, reports by the media about the low reserves of gold, stressing that it saw stable over the past several months.

The bank said in a statement received by news agency public opinion … today that “no truth to the news reported by some media on the low bank reserves of gold,” he said, adding that this reserve “witnessed stable over the past months.” (more…)

Parliamentary Economic committee warns of reducing Iraqi balance of gold

Posted: January 30, 2013 in Iraqi Dinar/Politics
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Tuesday, 29 January 2013 23:59 | | |

Baghdad (AIN) –The Parliamentary Economic Committee warned from the impact of reducing the Iraqi balance of gold on the national economy.

The Secretary of the Committee, Mahama Khalil, reported to AIN that ”Reducing the Iraq balance of gold means increasing inflation and creating incorrect economic policy thus we say that the reduction of Iraqi balance of gold gives clear signs that the Iraqi economic policy is not in the right direction at this stage.” (more…)

Advancing economic development depends on the implementation of the economic reform policies

Posted: January 30, 2013 in Iraqi Dinar/Politics
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BAGHDAD / Ali Author

A number of academics to correct the course of the national economy and drive development forward and enhance the contribution of non-oil sectors (k industrial and agricultural sector and tourism) in GDP, comes the inevitable result of the implementation of economic reform policies and administrative restructuring required level. (more…)

Iraq ranked 44 among the most possession of gold

Posted: January 27, 2013 in Iraqi Dinar/Politics
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Date: Sunday 01/27/2013 08:08 pm

Data from the International Monetary Fund that Iraq reduce its holdings of gold by a quarter to 9.29 tonnes last November, after efforts to strengthen reserves in recent weeks.

According to a report statistics monthly issued by the Fund and seen by “Twilight News”, has increased holdings 6.9 tons in September and October, bringing the total to 4.39 tonnes before falling back in November, and retraction came just months after a significant increase in holdings Iraq is the first since years. (more…)

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