Auction Central Bank monetary policy threatens to collapse
Warned parliamentary sources familiar with the collapse of the Iraqi monetary policy in light of the continued dollar selling in the auction of the Central Bank, and revealed a blueprint for the continuation of the process of money laundering agreement with American officials through non-recognition of the Iraqi dinar in international transactions. (more…)
Economist: delete the zeros from the currency less risky
30/12/2013 04:56 PM
The head of economic studies at the University of Kufa Economist Thunder Twigg, to delete two zeros off the market value of the Iraqi currency would be less risky than delete the three zeros. (more…)
Economic parliamentary decision for “time”: the budget up to the House of Representatives next week
Monday, December 30 1 / December 2013 15:03
Decision likely parliamentary Economic Committee, on Monday, the arrival of the federal budget bill to the House of Representatives next week, while pointing out that the political differences around will contribute to the delay in approval. (more…)
December 31, 2013
Minister of Finance Agency purity of net debt to “budget for fiscal 2014 will begin shortly and close normally despite the withdrawal of coalition MPs are united from the political process.” (more…)
The Interior Ministry announced, on Monday, that the imposition of customs duties on imported goods will be starting from the year 2014, and by no more than 20% of their value, indicating that the fees will be imposed on all border crossing points, including the Kurdistan region.
The interior ministry said, in a statement posted on the website of the Ministry of Interior, said that “the imposition of customs duties on imported goods will be starting from 2014, and by no more than 20% of its value in all border crossing points, including the Kurdistan region.” (more…)
December 29, 2013
British firm involved in global economic analysis expects the continuation of the impact of political risk on the Iraqi economy during the next 2014.
This came in a quarterly report, the new released by Business Monitor Anturnashinal BMI British, on monitoring and analysis of global economic and trade, on the prospects for the commercial sector and economic situation in Iraq during the first quarter of 2014, the next, indicating that “the rate of growth of the Iraqi economy will be 10.6% and 9.2% in normal circumstances during the years 2013 and 2014, respectively, with the survival of private consumption and oil exports as the main engine of economic growth in the coming years, and that the risks surrounding this outlook lies in the deterioration of security resulting from the increased rates of political violence. ” (more…)
The Minister of Justice Hassan Shammari on the need to end the file of debt to discuss with the countries concerned.
A statement issued by the Ministry of Justice received the Euphrates {} a copy of “al-Shammari received today, the Iraqi ambassador to Brazil Adel Mostafa and discussed with him the development and strengthening of diplomatic effort between the Republic of Iraq and the countries of the world.” (more…)
12/18/2013
Said an economist, said on Wednesday that the Iraqi market “still fragile” and unable to compete with their counterparts in the region or attract investors, while showed the Ministry of Commerce that it has started a plan that would “set the market and inflation and prevent monopoly,” expected to result soon ” the mobility of the two types, “especially after rid Iraq of Chapter VII. (more…)
Business & Finance Friday, 27 January 1 / December 2013 22:51
Future News / MP for the coalition warned / united / Knight Sangaree the likelihood of intervention of the International Monetary Fund and his imposing certain actions on Iraq in light of the large deficit in the fiscal budget for next year.
He said in a press statement today that: “As a result of the existence of economic problems in the budgets of previous years and the introduction of a lot of things that we do not have it within paragraphs, led to the accumulation of economic problems have come to the proportion of the deficit in the budget next year, up / 30-35 / billion dollars.” . (more…)
Saturday 28 December 2013
witnessed the 2013 events, economic prominent left a clear imprint on the level of the national economy, starting from the start of initial production fields Garraf and crazy petroleum giants and rising oil exports, through the rise back up Iraq’s hard currency, and the development and the largest federal budget in the history of Iraq, down to the the conclusion of a memorandum of understanding with one of the Swiss companies to set up a refinery in Missan. (more…)
12/26/2013
Still citizens waiting to start implementing the project to delete the zeros of the Iraqi dinar for several reasons, perhaps the most important of which is the security aspect in the interaction between individuals, as many traders dealing in dollars for the lack of size of the money supply, compared to the Iraqi currency. (more…)
12/27/2013
Despite the passage of more than three years on the signing of the strategic framework agreement between Iraq and the United States, observers noted that the U.S. side seems not serious in implementing the terms of this Agreement as soon as that leaves a clear impact on the Iraqi scene.
Political analyst Amir al-Saadi said the U.S. side is slow in implementation of the terms of the agreement, especially in the field of armaments, but he progresses good steps in the field of education and scientific exchange and fellowship, which left the impression that the U.S. government is not serious in achieving all of its provisions. (more…)
27 Dec 2013
The Iraqi Higher Electoral Commission (IHEC) is keen to develop a new method for easing the process of voting for people in the forthcoming Iraqi parliamentary elections as well as for the provincial elections in Kurdistan. (more…)
Economic
Finance Committee exclude the application of the project to delete the three zeroes through the next two years
26-12-2013 08:51 AM
Baghdad (news) .. Excluded the parliamentary Finance Committee application project to delete the three zeroes from the currency during the next two years because it would cause confusion for the Iraqi economy and increasing inflation rates of the country ‘by Ray Committee’. (more…)
Accepting deposits in BIS achieve the benefit of Iraq
12/26/2013 0:00
One indicator of his return to the focus of attention of the world
The economist said the appearance of Dr. Mohammed Saleh, said that the Bank of International Settlements, accept deposits from Iraq will benefit the country through capital investment projects, financial investments. Was the Bank for International Settlements (BIS) which is an acronym for the Bank for International Settlements)) may feel the CBI Sunday past, his willingness to accept deposits Iraq for Fiscal Year 2014. Saleh added in a statement to the (morning) that this measure would provide service to the country’s economy through the BIS financial investments ongoing interest rate or interest-free and by currency, whether in euro or the dollar or other currencies . investment reserves (more…)
MPs and experts in favor of warnings from the International Monetary Fund Iraq’s dependence on oil
Warned parliamentarians, economists and oil, last Sunday, of the consequences of Iraq’s dependence entirely on oil, and have expressed their support for the report by the International Monetary Fund on the performance of the local economy, and while confirming the parliamentary Finance Committee that they had already informed the government repeatedly remarks similar without having any reaction because the officials “lack insights economic future”, he saw an economist that the problem of Iraq’s funds is that they “run around irrational,” warned an oil expert of the consequences of non-crystallizing economic vision for the future. (more…)
December 25, 2013 10:22
The government has prepared a detailed dossier of debt owed by Iraq, amounting to a billion dollars, and the file will top the priorities of the debt talks to be conducted by the ministerial delegation headed by Jordan Eagles, which begins on Wednesday.
A ministerial source said that the prime minister personally asked the Ministry of Finance and the Central Bank to prepare a file detailing of debt owed by the Iraqi government since many years, stressing that the Iraqi side and through the process of preparing for the visit by the joint committees never willingness to resolve the file debt and the payment of Jordan dues for him to Iraqi government. According to the Arab newspaper (more…)
23-12-2013 10:27 AM
Baghdad (newsletter). The parliamentary Finance Committee, stressed that Iraq is not in need of international financial loans, indicating that loan by the World Bank and the (355) million dollars for Iraqi economic policy link. (more…)
Expressed the Bank for International Settlements, on Sunday, his willingness to accept more deposits Iraq has within the budget of the bank for the year 2014.
According to a statement of the Central Bank, that “the Iraqi Central Bank has received notice from the Bank for International Settlements in Basel, in which he expressed his willingness to accept more deposits Iraq has within the budget of the BIS in 2014.”
He added that “the implementation of this measure will contribute to achieving better returns to Iraq with money to keep them in safe places, too.”
The BIS is an international organization of central banks to strengthen financial cooperation and Altmolini global and act as a bank for central banks not subject to accountability to state government. (more…)
Member of the Committee expected the economy and investment representative Aziz Sharif al-mayahi project raise zeros from the local currency early 2015.
The Central Bank of Iraq more than two years studying the issue of lifting the zeros of the Iraqi currency but until now did not take firm decision on this matter. (more…)
Sunday, 22 November / 1 December 2013 09:41
Visiting Iraqi Oil Minister Abdul-Karim and coffee Kuwait soon to discuss the file management of common fields between the two countries.
Detection and Foreign Ministry Undersecretary Khaled Al-Jarallah Kuwait in a press statement about “a planned visit by a coffee to Kuwait to discuss the mechanism for the implementation of the common fields between the two countries that took place recently.” (more…)
Friday, 20 December / 1 December 2013
Urged the Economic Committee in the House of Representatives stakeholders from the central bank and security departments, placed on attention to counterfeiting because of their negative effects on the country’s economy, as an economist downplayed the significance of it being very limited.
A member of the Economic Commission MP Amer Al-Fayez, warned of the seriousness of the impact of counterfeiting on the economy of the country, noting that the security situation is stable and the border is controlled entirely contributed to finding this matter. (more…)
CBI seeks to delete three zeros from the Iraqi currency since 2003. A project that raises many concerns on the street level and the business community of Iraq, and it seems economists are divided between supporters of the project see it as an opportunity to reduce the rates of inflation and unemployment, among forewarned of economic shocks may dominate the Iraqi market due to the application of this project.
The delayed implementation of the project after it has been amended, the central bank, more than once due to concerns based predominantly to the security situation and uncontrolled open market to foreign goods without restrictions and counterfeit currency circulating in the market in addition to the rampant corruption in the country. (more…)
18 Dec 2013
Overall Rank of 151
For the last few years World Bank is publishing its Doing Business report on laws rules, and taxes that regulate business around the globe. So far, Iraq has done poor performances as per those reports. Previously the country was regulated by the autocratic dictator Saddam Hussein. The socialist state-run economy of Iraq was not up to the mark to attract the investors within the country. (more…)
Ban satisfied with Iraq’s cooperation with Compensation Commission
20/12/2013 | 01:11 AM | Kuwait News
NEW YORK, Dec 19 (KUNA) — UN Secretary-General Ban Ki-moon on Thursday expressed his satisfaction that Iraq continues to deposit five percent of its oil revenues to the Compensation Fund, in accordance with relevant UN Security Council resolutions, to pay the victims of the 1990 Iraqi invasion of Kuwait.
“I would like to express my ongoing appreciation to the Government of Iraq and the Iraq Committee of Financial Experts (COFE) for their continued cooperation with the Compensation Commission,” Ban told the Council in his six-month report. (more…)
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