Saturday, October 09, 2 / November 2013 10:50
Prime Minister Nuri al-Maliki for the U.S. to re-mediated normalization of relations between Iraq and Saudi Arabia.
Maliki said in an interview televised seen him and all of Iraq [where] “There is a role of mediation U.S. to restore relations between the two countries,” Yes they are doing now, this role has been tried before, “adding,” They [the officials Saudis] if they want to change direction and establish a level playing field and good neighborliness and common interests enjoy and stay easy and I’m ready to officials received them or to visit Saudi Arabia to end this dispute. “
Maliki said that “we do not find an interest in good relations with any country and work to establish good relations with all countries, and that Iraq currently enjoys good relations with various countries of the world.”
“We want a quiet area and we want an Iraq that has ties in the region, because the strength of relations with their countries that we do not have now a problem with Iran or Turkey or Kuwait or the United Arab Emirates is the power of Iraq and the region and a boost to terrorism and terrorists and sectarian living on these differences.”
The al-Maliki has concluded last Saturday visit to the U.S. lasted four days followed by two days after the visit of U.S. Secretary of State John Kerry to Saudi Arabia on Monday and met with Saudi King Abdullah bin Abdul Aziz Al Saud, and a number of leaders and Saudi officials.
Saudi Arabia was was appointed at the end of the month of February 2012 [Fahd bin Abdul Mohsen Al Sulaiman Al-Zaid] to be the first Ambassador of Saudi non-resident in Iraq since 1990 when he invaded the President of the former regime of Saddam Hussein, the State of Kuwait, the longer recognizes the ambassador of his duties of the diplomatic part of the return cut diplomatic relations between the two countries 22 years ago.
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Iraq’s Debt Settlement With Egypt And Jordan
On October 23, 2013 According to press sources Jordanian, on Wednesday, the Iraqi government has authorized the Iraqi Minister of Finance and the Governor of the Central Bank of negotiation and debt settlement Jordanian and Egyptian on Iraq, according to an agreement, “the Paris Club.”
Said Jordan News Agency “Petra” in the news of her day: that “The Iraqi government has decided to settle the money that the Jordanian government to act and to present the settlement if finalized,” indicating that it “will be also with respect to funds Egyptian.” mentions that “the Economic Club of Paris” had in 2004 decided to write off Iraq’s debts , which is an informal group of financiers from 19 countries of the richest countries in the world that offer financial services such as debt restructuring, debt relief and debt cancellation on the debtor and creditor countries and identifies the International Monetary Fund names of those States.
estimated specialists total debt of Iraq because of the policies of the former regime at 115 billion dollars has been waived Russia for more than 90% of its debt and China about 80% of the debt and the United Arab Emirates all debts, while Japan has ceded 85% of its debt and promised to consider the remaining amount, as did many countries.
expresses observers for surprise of the insistence of Arab countries to keep their debts against Iraq despite the change of the former regime, while pointing out that there are “greatly exaggerated” in talking about the size of the amounts due against Iraq, two references of this command to political attempts to pressure to extract concessions bigger and that this would There is a state of extreme confusion between real debt and declared figures for political purposes, according to Almokhtsa.
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varied views of specialists in economic affairs around the central bank’s decision excluding 12 out of 32 banks waged from the auction currency for not achieving increased their capital to 250 billion dinars within the period set by the Bank For those banks, regarding an economist believes that this decision will impact on the reputation of banks, both domestic and external.
He noted educator economic that this measure will open the door more widely to brokerage firms in competition banks civil auction currency while reducing another expert from the importance of this by saying that it will provide an opportunity for banks civil undisciplined expand its participation in the auction buying and selling currency. impact on the stock exchange in this regard sees economic expert on behalf of Jamil Antoine, the effects of this decision will be reflected on the street a message that private banks are not yet eligible to take their role in the development process, as well as that this step ستربك the banking business.
He described in a statement to the (morning) to hold the central bank as a semi-penalty against them also that this measure will generate uncertainty in the foreign investor and the citizen as well as other influences on the stock exchange and the process of withdrawal of depositors and undermine confidence in the banks. capital and pointed out that the impact of this measure on the level the outside will have a negative impact as the number of these banks negotiating with foreign banks to enter the banking with them in partnership, calling for the central bank not to alienate these banks and give them another chance to study the possibility of the integration of some or while achieving partnership with foreign banks to enter Iraq.
For his part, said economic expert that the increase in commercial banks to their capital to 250 billion dinars not enough to hold economic reform unless it addressed the paragraph 27 of the Banking Act. restrictions banking , said Dr. Akram Hassan’s “morning” that Article 28 of the Banking Act restricted the banks in the exercise of activities that is at the heart of its work and investment-related as well as prevent them from doing any activity that is not mentioned in Article 27 only after taking approval from the Central Bank, which prohibits banks exercise any activity not mentioned in this article to make banks restricted in the exercise of a particular aspect of the banking business and lack of exercise side II.
pointed out that the economic reform process starting from banking reform as a key lever that goes by the economy required to lift the restrictions that limit movement, referring to the experiences of Eastern European countries in this field.
He pointed out that the banking and financial sector, one of the most important factors of the transition from a centralized economy to a market economy. To that supported academic Economist Dr. Essam المحاويلي a central bank Excluding this number from the banks of the auction currency and describing it as that hold true. said in a statement (morning) that the capital of banks, represents the largest protection of deposits, indicating that the inability of some banks The increase in capital within the period specified places in front of the option to merge with other banks or shift to corporate banking, according to central bank’s decision. , and pointed out that the period granted by the Central Bank for banks to increase its capital to 250 billion dinars is long enough being made on several stages and began about 3 years, pointing out that the more capital the bank whenever allowed him the opportunity to develop his work and took a role in the development process.
Consists of the banking system in Iraq of 7 state banks are Rafidain and Rasheed and Trade Bank of Iraq and the Agricultural Bank and the Industrial and real estate in addition to the Bank of Mesopotamia the Islamic opened this year, along with 32 banks waged locally and 11 branches of foreign banks, including Lebanese and United Arab Emirates, Iranian and Turkish.
added المحاويلي that the implications of this decision will not be reflected on the street where there are a number of other private banks can be resolved in the auction currency instead of banks excluded and doing what they were doing from purchases and sales, indicating that the currency exchange rate will not be affected by this measure to the presence of more than 30 banks waged scattered branches in Baghdad and the provinces.
competition is fair and added that this measure would also open the door to banking companies and financial transfers to enter into Auction sell the currency, which generates competition may be unfair between them and the banks participating in the auction the fact that these companies are unknown does not have the experience and reputation that qualifies them to engage in this الغمار.
control the movement of money into it, said director of banks in the Ministry of Finance Dr. Hilal Taan that bank’s target of exclusion came for the purpose of inventory selling and trading of foreign currency banks are limited to control the movement of money and eliminate the black market traders.
said in a statement to the (morning) that this action will not affect significantly in the currency exchange rate, because there are large reserves in the Central Bank amounted to 80 billion dollars and more than 30 tons of gold and therefore, the Bank succeeded in controlling and maintaining the low exchange rate compared to the previous periods. , and pointed out that the brokerage firms will take advantage of the void that happened in the auction currency of the exclusion of certain banks because the central bank is able to control levels of the currency market.
Pointing out that the price difference, which may get up tiger or Nmrtin will not affect the movement of the market because it is a matter of course in a country like Iraq passed through difficult circumstances over the last three decades. , and stressed that the bank’s decision was issued based on a study of experts and specialists have a long tradition in the auction currency, calling for banks disposed to reconsider their betterment and strive to increase its capital and the duties of monetary policy to achieve that increase was imposed on those banks that take advantage of the time to increase the amount of their capital. ‘s central bank has decided to exclude 12 banks waged from entering the auction currency (cash sales and credits and transfers) for the failure of those banks to increase their capital to 250 billion dinars. excluded also prevent banks from opening branches or any expansion of the banks want to do to while completing increase, as well as امهالها 4 months to complete the procedures to increase.
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10.10.2013 12:00 AM
counting Economists investment agreements and economic signed by Iraq with the countries of the world one of the important steps that pave the way for Iraq’s accession to the World Trade Organization because it is considered a first step towards collective bargaining.
Economist and academic, Dr. Acer Yassin said in a statement (morning): The “hold these agreements to the benefit of both sides through the exchange of experiences and attract investments and allow foreign investors and the Arabs.”
said Yassin said the Iraqi investment law gives the group guarantees and benefits for foreign investors, especially in the field of construction and reconstruction, these benefits have not benefited Arab investor in the past few years, as it did not try to invest in Iraq and the trend towards the Iraqi economy because of security conditions, so it must attract Arab investors to be construction projects pilot.
noted expert that these agreements are considered privilege for the investor, as being able to own land, which implements the project, especially as the Iraq less signatory countries of the agreements guaranteeing to invest at the level of countries of the world, noting that it encourages investors and give them guarantees and additional benefits, as well as the advantages granted by the Investment Law, and opens the way for agreements with other countries, especially as the investment agreements in the field of construction and reconstruction benefit Iraq because it needs to residential units, which were estimated by the experts of two million units, but the country needs more than this number, especially in the provinces, he said.
noted that the National Investment Commission has signed contracts investment with two Blorm and Handal Alamarateten Inc. Shamara Holding last month, for the construction of housing units are in the cities of the future (1 and 2) in the region of الدهنة by 30 thousand residential units, and the Committee of Baghdad in the area of Dabbash by 20 thousand residential units.
Government has shown its willingness to consider any amendments serve the process of construction and investment and cringe difficulties encountered in the work of investors and companies the private sector, while stressing the Ambassador of the United Arab Emirates and managers of UAE companies investing in Iraq’s intention to increase the presence in the Iraqi market, expressing their aspiration to support the Iraqi government for construction projects undertaken by the UAE companies, and pledged at the same time its completion deadlines.
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Baghdad (newsletter). Vice-Chairman of the Committee, said the Deputy of the Kurdistan blocs Coalition/Ahmed Faizullah, Neil Iraq ranked fourth on the world level in terms of its known oil reserves, with more than 140 billion barrels, and the proportion (11%), to the third place after exploring new oil fields.
He said Faizullah (News Agency): the International Energy Agency issued a report on oil reserves in the world, noted that Venezuela was ranked first with an estimated reserve (297) and 715 million barrels, and a percentage (23%).
He added that Saudi Arabia ranked second with an estimated reserve (265) billion (850) million, and the proportion (20%), while Iran ranked fourth with an estimated reserve (157) billion and 300 million barrels, (12.4%).
He noted that Iraq ranked fourth worldwide reserves stood at 140 billion and 300 million barrels, and the proportion (11%), while Kuwait was ranked fifth with an estimated reserve (101) billion and 500 million barrels, and the proportion (8%), while the UAE ranked sixth with estimated reserve (97) billion and 800 million barrels, and the proportion (7%).
He continued that Russia was ranked seventh worldwide oil reserves reached 77 billion (403) million, and the proportion (6%), indicating that Libya was ranked eighth in reserve (48) billion (472) million and (3,8%), Nigeria has ranked ninth with an estimated reserve of 37 billion (139) million and (2.9%) and Qatar ranked tenth with reserve (25) billion (244) million, while the United States oil reserves stood at 23 billion dollars (267) million Barrels.
Explained: that Iraq is a good salary relative to the world, and the top is unlikely because there is a large difference in the three top reserves
Baghdad / Mesalla: the company issued (Wealth – X), specialized in the various information and details for the world’s rich and the distribution of wealth around the world, the 2013 report on the distribution of the world’s rich and their fortunes in the five continents.
According to the report, the total wealth owned by the richest man in the world comparable to (according to its estimates for this year) 27.8 trillion, owned by 199 thousand and 235 chandelier in the world, mostly concentrated in America.
And Saudi Arabia ranked first at about 1360 chandelier with a total wealth of $ 285 billion, followed by UAE with 1050 chandelier with a total wealth of $ 190 billion Kuwait is a rich b 845 have $ 145 billion.
The fourth was a rich Qatar who have attained their wealth 50 billion were distributed among 345 chandelier, while Syria V. came a fortune estimated at $ 22 billion for 205 chandelier.
Iraq has earned sixth place in the number of wealthy Middle East, of which 75 billion were distributed among 175 chandelier.
The total number of the wealthy in the Middle East 5300 per capita total wealth was estimated at $ 880 billion in 2013.
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Iraqi financial expert stated that the value of Iraq’s Federal Reserve currently amounts to about $80 billion, following the recent increase in the country’s oil exports. Nevertheless, no information was made available by the Central Bank of Iraq (CBI) to this effect.
Speaking to media, financial expert Hussein al-Asadi remarked, “According to my information, the value of Iraq’s federal reserve currently amounts to about $80 billion. This includes funds, precious metals and other items.”
Regarding the financial issues concerned with Federal Reserve, CBI or Central Bank or Iraq’s governor Abdul Basit Turki has chosen to stay mum. The bank has issued only a statement for indicating the developments that it has been carried out of late.
The last comment made by the CBI regarding the country’s federal reserve dates back to Jan. 31, 2012, when the bank denied the ‘decline of gold reserves’. CBI further stated, “They have been stable throughout the past months and amount to 29,730 tons.”
Asadi added, “The US dollar is the main currency in the Iraqi reserves. There are also some reserves in other currencies, in addition to gold. Due to the troubled military and political conditions of the country, Iraq’s reserves cannot be invested to a large extent, as is the case in China or the United Arab Emirates, for instance.”
He further stated, “Iraq is distributing its reserves to a number of banks just to protect [these funds, although it does generate some interest on the deposits.”
Economic expert also remarked the crisis between the government and CBI by remarking, “Article 26 of the CBI law explicitly states that it is inadmissible to lend to the government.”
On how the reserves are formed, Asadi said, “Iraq’s annual budget is in Iraqi dinars, which the CBI owns. The state’s revenues are from oil exports, and they are mostly in US dollars. The government buys dinars from the bank, which results in profits for the bank. The total CBI profits from selling dinars to the state constitute the country’s Federal Reserve, whose growth is associated with state spending. State spending increases in proportion with its oil exports.”
Member of parliamentary economic committee, Mr. Abdul Hussein Abtan, the Iraqi MP, stated, “The total value of funds and precious metals that make up Iraq’s Federal Reserve amounts to about $76 billion.” He added, “This reserve was only invested in projects to support the stability of the Iraqi dinar’s exchange rate.”
On the other hand, Ahmed Hassan Faizullah, a member of the parliamentary finance committee, denied the fact that “the government is able to use Iraq’s Federal Reserve, despite its need for funds on more than one occasion.”
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