Archive for March, 2014

World trade bankAraji: The World Bank warned the Iraqi government from interfering in the work of the Central Bank

25/03/2014

The World Bank warned the Iraqi government from interfering in the work of the Central Bank
{Baghdad: Euphrates News} said Liberal MP from the parliamentary bloc Bahaa al-Araji, that the “international student Nabek reform policies and non-interference by the Iraqi government in the political CBI especially with regard to the subject of borrowing.”

He said al-Araji, said in a statement received by the Euphrates News Agency {} a copy of it on Tuesday, “We had already warned of the deteriorating economic and financial situation in the country because of the failure to take policies professional and overlapping powers and interference in the work of the central bank by the Iraqi government.”

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IMFLogoPress Release No. 14/124

March 25, 2014

An IMF mission led by Carlo Sdralevich, Mission Chief for Iraq, visited Amman during the period March19-24 to meet with an official Iraqi delegation led by Acting Minister of Finance, Dr. Safa Al Safi. The mission also met with the Acting Governor of the Central Bank, Dr. Abdul Basit Al Turki Said, and officials from the ministries of finance, planning, and oil, the central Bank, and the Board of Supreme Audit. The IMF team also consulted with representatives of Iraqi private sector and diplomatic community in Amman. The mission reviewed recent macroeconomic developments and the current fiscal and monetary issues. This work will help prepare the 2014 Article IV consultation with Iraq later in the year.

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Said a statement obtained by “obelisk”, a copy of “Alasttratejah as part of the central bank in managing the reserves of the vessels, to achieve an element of safety and safety in order to use the tools of monetary policy to stabilize the exchange rate of the dinar against foreign currencies Iraq.”

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Screen Shot 2014-03-22 at 2.44.41 PMIraq from countries committed to pay its debts gives a good indication of what part of the world rankings informal in this area. Where have paid more than $40 billion of total debt adjusted to the Paris Club, which was up to 51.6 billion dollars in 2004.

classified Iraq’s foreign debts on 4 categories include both debt to Paris Club countries, the debt of non-member states of the Paris Club, and the debt of commercial creditors ( foreign private sector), and the debt of the GCC countries in addition to contracts for consultants accounting and legal. (more…)

Iraq’s banking system is notoriously unstable, competitive, unsecure and riven by political infighting. MPs say they’re trying to improve the banking system but in the meantime, locals are still keeping cash in a box under the bed

Iraq’s banking system is notoriously unstable, competitive, unsecure and riven by political infighting. MPs say they’re trying to improve the banking system but in the meantime, locals are still keeping cash in a box under the bed

Saleh Majid owns an electrical supplies shop in Baghdad’s busy Shorja market area. And every day after the close of business, he takes all the money he has made that day home with him; he won’t deposit it in any Iraqi bank.

This is because Majid had been a customer of Iraq’s Warka Bank for Investment and Finance, the country’s largest privately owned bank. In early 2012, the Warka Bank was declared insolvent by Iraq’s Central Bank and placed under management appointed by the Central Bank.
“When the bank loses its capital, fails in its financial operation and faces an unsolved problem, the Central Bank according to its law, intervenes as a guardian and appoints a new temporary administration to run this bank,” the deputy governor of the Central Bank, Mudher Saleh Kasim, told news agency Reuters at the time. (more…)

KUWAIT, March 22 (KUNA) — Gulf Cooperation Council’s (GCC) former Secretary General Abdullah Beshara called Saturday on the importance of having strategies, economic and trade agreements in order to achieve Arab economic integration.

“The Arab countries have a genuine opportunity that should be seized in order to have strategies, and economic and trade agreements in order to strengthen the Arab economy and trade,” Beshara said in a seminar about “Personal Experience,” part of activities of the 25th Arab summit, due in Kuwait on March 25-26. (more…)

Thursday, 20 March 2014 14:56

Baghdad (AIN) –The State of Law Coalition assured nominating the Secretary General of the Council of Minister, Ali al-Allaq, as the head of the Central Bank of Iraq instead of the former head, Abdul Basit Turkei.
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Screen Shot 2014-03-17 at 2.06.08 PM

Legend of Saint Patrick
Good St. Patrick travelled far, to teach God’s Holy Word
And when he came to Erin’s sod, a wondrous thing occurred
He plucked a shamrock from the earth and held it in His hand
To symbolise the Trinity that all might understand
The first leaf for the Father
And the second for the Son
The third leaf for the Holy Spirit
All three of them in one.

Irish Blessing: May the sun shine all day long, everything go right and nothing wrong. May those you love bring love back to you, and may all the wishes you wish come true!

Maliki is determined to lead his party’s relations appointed Governor of the Central Bank

Sunday, March 16, 2014 at 10: 37

An official statement in the Council of Ministers, on Sunday, the Prime Minister’s determination to the appointment by the Secretary-General of the Council of Ministers and the leader of the Dawa party, Ali al-allaq as Governor of the Central Bank of Iraq instead of Abdel Basset Turki. (more…)

Economists say: Iraq is not eligible to enter the World Trade Organization

16/03/2014 05: 35 PM

Baghdad/follow us:-increased calls for Iraq’s accession to the WTO, as part of the transition to capitalism and its openness. Fulfilling its obligations to the international community made in signing the Charter of the International Covenant. (more…)

02: 34: 17/03/2014

The Iraqi Parliament Presidency decided to postpone reading the draft budget law for the year 2014, until next week to reach a atvkat between the political blocs objecting to budget. (more…)

Sunday, 16 March 2014 23:59

Baghdad (AIN) –The United States of America expressed its readiness to mediate between the Federal Government and Kurdistan Regional Government to settle the disputes related to 2014 State Budget.

The media office of the Second Deputy Premier of KRG, MP Arif Tayfur, of the Kurdistani Alliance reported in a statement received by AIN “Tayfur hosted the US Deputy Assistant Secretary for Iraq and Iran Affairs, Brett Macrik, and his accompanying delegation at his office where they discussed the recent political situations in Iraq and regional arena.” (more…)

Baghdad, Ali Naji

Security experts believe the United States working to help Iraqi politicians contenders to end their differences in order to stop the bloodbath in Iraq, calling for Washington to register their presence in the Iraqi political scene, and events of the Iraqi public.

Iraq has been one of the worst acts of violence in recent years. As the data says the UN mission to help Iraq that nearly 9000 people were killed in the year 2013 only. (more…)

March 5, 2014,

The central bank began to examine the decision to amend the categories of the Iraqi dinar since 2010 as it seeks today to the deletion of three zeros from the Iraqi currency, a project raises many concerns on the street level and the business community in Iraq.

The delayed implementation of the project after it has been amended, the central bank more than once due to concerns based predominantly to counterfeit currency circulating in the market and the security situation uncontrolled and open market for foreign goods. (more…)

59624c79cf4b8e4779fc1993fd87b008Baghdad, Washington / Orr News

Revealed an Iraqi diplomat in Washington that the U.S. administration strongly rejects Iraq’s decision Ptsfir currency, or stop the daily auction of foreign currency, which is organized by the CBI.

The Iraqi diplomat said that “the United States is the primary beneficiary of the auction currency in Iraq, and the survival of the purchasing power of the Iraqi dinar is weak, compared to the price of currencies in the region, especially the poor ones, which are suffering from economic problems large like Egypt.” And showed that “the Iraqi currency, have been added zeros at the time of the former regime, and now is no longer an existential value, but the Americans are blocking efforts to zeroing damaged their economy and their companies from that. ” (more…)

BAGHDAD / JD /. Economic Commission predicted high sale price of the dollar, due to the delay in approving the budget, while suggesting that the long delay will lead to disruption of the pay of retirees, and install the grades

A member of the Economic Commission MP Albjara told Nora / JD / that the issue of the budget has become a political issue more than it is the subject of state-building economic cares, expressing the regret of the government to pursue the introduction of political file in each ÇáăćÖíÚ. (more…)

BAGHDAD / JD / .. Ministry of Commerce announced on the opening near the Iraqi Council – the U.S. Trade and Investment in Washington, while confirming that the high-level delegation will participate in the inaugural meeting.

The ministry said in a statement received / JD / copy of it: that a delegation representing Iraq will visit Washington, DC during the period of 3-7 this month to participate in the inaugural meeting of the Council of Iraq – U.S. Trade Investment. (more…)