" The Daily Dinar " ..........FRIDAY, 19 July 2013
Fmr. CBI Dep Governor: Iraq seeking global credit ranking
Saleh appearance: Iraq can be classified as credit through government bonds
Warned of the risk of non-existence globally
is a credit rating of any country in the world better than the non-existence because it gives the degree of adoption by countries of the world to assess the country’s economy for the purpose of investment and the exercise of economic activities and other businesses.
saw expert financial and banking d. Appearance of Mohammed Saleh it is possible rating Country credit through bonds sold in global markets because the presence of credit rating, though low, is better than no rating mainly because there is no rating confirms that the country is a threat to all countries of the world.
are rated countries in the world credit ladder classification consists of 4 grades are A, B, C and D as well as variables that represent signal + or – and Petkrarat different. Saleh said in a statement to the (morning) that he must begin Iraq is now negotiating for the purpose Ranked credit.
and launched the first round of the Conference of Finance and trade in June of last year, the presence of the representative of the U.S. Department of Commerce Cameron F. Kerry, in addition to economic circles in Iraq, it was agreed during which Iraq to encourage investors to come to Iraq and classification of credit to be able to give credit for foreign investors, as well as the importance of that goes on Iraq in this Category to give guarantees in the investment opportunities and confidence to recover their capital.
The Fitch or Fitch classifies countries credit is an international institution globally recognized and is a wholly owned subsidiary of the Company Hirst, which has in April 2012 to increase its stake in Fitch Group to 50 percent , one of the three companies rated a major addition to Standard & Poor’s and Moody’s, The company was founded by John Knowles Fitch in late 1913 in New York City as the Fitch Publishing, merged with IBCA Ltd., based in London in December 1997.
drew Saleh Although the negotiations began last year, but the Chapter VII represented the main obstacle in the not to grant credit rating as the country represents a threat to international peace and security.
, and pointed out that Iraq is now out of Chapter VII of the UN Charter and moved to Chapter VI him, which means he is now no longer poses a threat but on the contrary, he entered the phase of peace and development, noting that the credit rating not yet been determined, but – as I believe – in the class B-and this is a good indicator
and explained that the rating is through the public debt and the issuance of remittances Treasury or government bonds, particularly in international markets, or those bonds that are sold outside of Iraq except for support and one Qaeidah Iraq in return for private-sector debt under the Paris Club agreement. added when sold bonds then sold at about 60 cents, then increased their discount for up to 90 cents, and in this case became as if Iraq’s rated automatically among the countries that have rated within the degree of B-giving Iraq a good indicator in the period of the existence of Chapter VII.
, and stressed that Iraq would emerge from Chapter VII and the entry of foreign companies, in addition to the presence of liquidity, high financial and political stability and the presence of oil wealth, are all factors that would raise the credit rating of the degree of Iraq.
Najafi looking with the head of the central bank control mechanisms on the exchange rate and the development of the Bank’s work
Najafi looking with the head of the central bank control mechanisms on the exchange rate [Baghdad - where]
Search House Speaker Osama Najafi with the Governor of the Central Bank of Iraq and Abdul Basit Turki agency, control mechanisms on the exchange rate, and procedures against the violation banks.
The central bank has promised to take measures to raise and stabilize the Iraqi dinar as it was in the past, but the rate of the dinar is still volatile in the Iraqi market to fall and rise.
A statement by the Office of the President of the House of Representatives and received all of Iraq [where] a copy of the “Najafi search through a meeting in his office Governor of the Central Bank and the Agency for ways to reduce the damage caused by the previous bank policies and forwarded to the judiciary.”
He added that “Najafi expressed during the meeting to support the House of Representatives of the Central Bank and his administration the current in order to strengthen the cash balance and control of the exchange rate to serve the interests of the Iraqi citizen, stressing the importance of completing procedures develop the Bank’s work, especially in the field of electronic connectivity with banks and regulatory authorities such as customs and taxes” .
The statement added that “the meeting dealt also discuss measures undertaken by the banking policies to remove the implications in the period after the lifting of U.S. protection of Iraqi funds in and out of the provisions of Chapter VII.”
He called on the President of the House of Representatives to “hold a meeting with the Committee of indebtedness which is chaired by Rose Nuri Shaways Deputy Prime Minister for Economic Affairs and the membership of the oil minister, Justice, Finance, Foreign Affairs and Chairman of the BSA, to study and discuss the mechanisms in place to address the issues of debt after the lifting of U.S. protection of Iraqi funds” .
The Central Bank of Iraq, issued new instructions to stabilize the exchange rate of the Iraqi dinar against foreign currencies select the stakes weekly for banks and money transfer companies and trading firms currency from the dollar is estimated according to the capital of each of them, and will increase and reduce this share compared to the commitment of all of them deliver the amounts wants customers from citizens.
The central bank starts to put the dollar at an auction for the sale of foreign currency at subsidized prices and the lowest of the real exchange rate in the market to support the dinar. ”
The central bank is facing charges for the staff in conjunction with state officials Baalmyat corruption and smuggling of currency and the bank is currently undergoing investigations to long former director Sinan al-Shabibi, who left Iraq several months ago. Ended.
Economic parliamentary: the current currency not worthy in Iraq .. And the deletion of zeros is an urgent need
Called deputies Economic Commission, yesterday, to accelerate the implementation of the project “reset” the process of local, and stressed that the current currency “not worthy” status of Iraq’s economic and investment which, while saw an economist that the World 2012 was a “more appropriate” to replace the currency of the moment
A member of the Economic Commission representative, Abdul-Hussein Abtan, said that “the Iraqi economy today is in an advanced position and good because of the supplier of oil big, which reached nearly three million barrels per day,” and notes that “the Iraqi Central Bank recently announced that reserves reached 76 billion dollars, a very significant amount, ”
Abtan added, that “despite all that Iraq is still suffering from a lack of precision in the management of the economic file as well as the lack of coordination between the pillars.” The Central Bank of Iraq announced, on July 3 current, that Iraq is “in control of the funds and treasury of gold” in international banks, one of the acting out, denying the existence of frozen funds “outside the control of the Iraqi administration,” While revealed that the Reserve Bank amounted to $ 76 billion In May last year, was considered to be out of Chapter VII of Iraq will allow “more freedom” to act and attract foreign investment.
The member of the Economic Commission representative, the need to “multiple revenue estimated reflected on the economy and not on the availability of cash reserves large,” and continues that this “evolution in oil production and reserves, the central bank must be reflected on the lives of the citizens, because the country still has a large proportion of the poor and low-income and high unemployment and the housing crisis and the deterioration of the agricultural and industrial sectors. ”
The promise of a member of the parliamentary economic committee, that “the reserves located in Iraq and put the current economic is not commensurate with the size and value of the local currency, which contains the number of zeros.”
For its part, said a member of the parliamentary economic committee, Nahed al-Daini, said that “the deletion of zeros from the currency became a reality, especially after the withdrawal of Iraq from Chapter VII of the Charter of the United Nations.”
Daini and remember, that “the Economic Committee of the Council of Ministers were wary in the past of deletion of zeros from the currency of many considerations,” and turned out to be “out of Chapter VII made it necessary to delete the zeros of the Iraqi dinar absolute privacy.”
And called a member of the Economic Commission parliamentary political forces and stakeholders to “leave the excuse that the time is not appropriate, taken as a pretext to stop a lot of decisions which, if applied to have contributed to the recovery of the Iraqi economy significantly,” and stresses the need to “adjust the border crossing points and the adoption of the law of customs tariff and reset currency and the implementation of the Consumer Protection Act for the advancement of economic reality. ”
It said a member of the Finance Committee parliamentary Najiba Najib, “The Commission did not discuss with the Iraqi Central Bank Multi deletion of zeros from the local currency after assuming Abdel Basset Turkish presidency,” and explains that “the Finance Committee parliamentary pending claim the Iraqi Central Bank to discuss with him the subject . ”
Najib said that “the governing body of the former Central Bank presented a study on the preparation for the project to delete the zeros,” and believes that “this study was professional, scientific and included companies that have been agreed with the implementation of the project.”
In a related development, said economic expert on behalf Antoine, said, “want to delete the zeros is the restructuring of the currency and reduce the use of decimal numbers in the accounts of the process, which has become a danger,” and shows that “The other thing is to reduce the fraud that occurs in the current currency that consumed more large and you need to switch. ”
And saw Antoine, “The other point is minimized (dollarization) because when you delete the zeros will raise the value of the banknote, not currency because the latter means and not an objective,” and continues that “it reduces the dollarization in business dealings Instead of using billions of leaves from the local currency Stenzel this to millions and instead of moving bags currency buckwheat (Alkouan) will be transferred bags. ”
And emphasizes the expert, that this “process requires the security situation and a stable political and banking system accurate, fair and educate all the security services to reduce fraud and counterfeiting,” and corrects that “the central bank is ready for this process not be busy out corruption and others.”
Antoine believes, that “the time to change the currency was appropriate in the past year 2012, either now it is not appropriate.”
Conversely sees Head of Economic Studies at the Center for Mustansiriya for Arabic Studies and International Dr Abdul Rahman al-Mashhadani, that “the process of deletion of zeros was supposed to expire two years ago because the issue is purely economic,” and shows that “the dinar, which was torn and steals a loss to the government and citizen.”
He continues, head of economic studies, that “denominations now need to transfer large banks need to protect and place great,” and goes on to “the Iraqi currency need to change because, according to the international standards should be changed categories currently in circulation and that the Central Bank shall issue new categories.”
It is noteworthy that the General Secretariat of the Council of Ministers announced (12 April 2012), the patient in the application process to delete the zeros from the national currency, which had to stop all actions related to the mentioned process until further notice.
*** REPEAT FROM LATE YESTERDAY BECAUSE IT IS ENCOURAGING NEWS ***
Iraqi MP: Maliki and Barzani Are Close to Solving Oil Dispute
By: Omar al-Shaher for Al-Monitor Iraq Pulse Posted on July 18.
MPs from the ruling State of Law Coalition and the Kurdistan Alliance confirmed the presence of positive vibes between the federal government in Baghdad and the Kurdistan Regional Government (KRG) in Erbil regarding the possibility of passing the Oil and Gas Law, which governs the management of oil wealth in the country.
The law is supposed to be passed during the current legislative session, which ends in early 2014. However, the MPs preferred to maintain discretion regarding information on the final draft of the law.
Rapport between Baghdad and Erbil seems relatively warm as the two governments continue to settle oil disputes.
Close Ties Between Maliki and Barzani Might Speed Up Ratification of Oil Law in Iraq
Author: Omar al-Shaher
Posted on: July 18 2013
Translated by: Pascale Menassa and Joelle El-Khoury
Categories : Originals Iraq
A high-ranking source in the office of Iraqi Prime Minister Nouri al-Maliki told Al-Monitor that “Prime Minister Maliki and KRG President Massoud Barzani discussed during the latter’s latest visit to Baghdad an amended draft of the Oil and Gas Law and agreed on showing it to their partners, so that it can soon be passed in the Iraqi parliament, before the current legislative session ends in early 2014.”
However, the federal government and the semi-autonomous KRG disagree on oil and its imports in the northern provinces.
While Baghdad demands that the agreements with foreign and local companies on the drilling operations happen with its knowledge and that the region send the export revenues to the federal government, the Kurdistan region wants the federal government to pay the dues of oil companies working for it, before requiring oil revenues to be sent to Baghdad.
♥ OK.. LET ME GET THIS STRAIGHT.. KURDISTAN WANTS THE FEDERAL GOVERNMENT TO PAY THE OIL COMPANIES FOR THEIR WORK BEFORE KURDISTAN SENDS THE FEDERAL GOVERNMENT THEIR OIL REVENUES? I DO NOT BLAME THEM A BIT. HOWEVER, IS KURDISTAN "DEDUCTING" WHAT IS OWED TO THE COMPANIES AND KEEPING IT "ON TOP" OF WHAT THEIR PERCENTAGE WILL BE FOR OIL REVENUES? THEY SHOULDN'T. I DO NOT UNDERSTAND WHY KURDISTAN CANNOT PAY THE OIL COMPANIES OUT OF THEIR OWN OIL REVENUES AND SEND THE FEDERAL GOVERNMENT EVERYTHING OVER AND ABOVE KURDISTAN'S PORTION AFTER PAYING THE OIL COMPANIES.. DOES THAT MAKE SENSE TO ANYONE BUT ME? I DON'T CARE HOW THEY DO IT.. JUST WORK IT OUT!!! ~RL~
The Oil and Gas Draft Law has undergone several amendments since 2011, but it has not received the needed consensus yet.
♥ HCL, STILL NOT PASSED ~RL~
On July 7, 2013, Barzani visited Baghdad and met with Maliki amid a positive atmosphere, favoring the resolution of the pending issues between both sides, namely the distribution of oil wealth management powers in the country.
Kurdish MP Farhad al-Atroushi, who is close to Barzani, told Al-Monitor, “The current phase is witnessing an agreement between Baghdad and Erbil regarding the Oil and Gas Law.”
♥ ENOUGH TALK FELLAS.. let's SEE it! ~RL~
Atroushi, an MP in the Iraqi parliamentary Oil Committee, added, “The Law of Provincial Authorities that was recently legislated and that granted local governments the privilege of participating in the management of oil wealth with the federal government pushes the latter to legislate the Oil and Gas Law, to reach a final decision regarding the situation in the Iraqi Kurdistan Region. Otherwise, chaos will break loose in the Iraqi oil sector.”
He continued, saying, “I cannot say that Barzani and Maliki have agreed on passing the Oil and Gas Law, but they see eye to eye on this matter.”
He said, “This issue will be settled during the discussions of the sub-committees that were set up for this purpose between Baghdad and Erbil.”
According to Atroushi, “It is better for the central government to enact the Oil and Gas Law, even if it grants [the Kurdistan region] broad powers to enter into contracts with foreign oil exploration companies.”
In a news conference held following Barzani and Maliki’s meeting, the latter talked about the importance of “resolving in a realistic and brotherly way” the problems between Baghdad and Erbil.
Barzani, however, said that his visit to Baghdad was designed “to send a message to the external and internal arenas that we are brothers, and are keen to communicate [with each other]. This is particularly true since we live in a region full of problems and crises, which we will overcome based on cooperation between us.”
In parallel, Jamal Bahauddin, a member of Maliki’s State of Law Coalition, said, “Ongoing discussions and meetings on the oil and gas legislation between the Kurdistan Region and the federal government are taking place.”
Bahauddin, who is also a member of the Iraqi Parliamentary Oil Committee, said in a statement to Al-Monitor, “There has been a convergence of views, but nothing has been decided yet.”
Asked whether or the Iraqi parliament would pass the Oil and Gas Law before the current session expires, he contented himself with saying that “there are sub-committees, [including members from the various] political blocs, that were set up to negotiate this matter, and they continue to hold meetings.”
The Iraqi parliament formed in September last year a sub-committee to examine the controversial issues in the Oil and Gas Law and to develop a new draft.
Furat al-Shara, a member of the Oil Committee, said, “The heads of Iraq’s political blocs must take advantage of the political calm that followed the visit of the Kurdistan region’s president to Baghdad to pass the Oil and Gas Law.”
Speaking to Al-Monitor, Shara, a member of the Islamic Supreme Council of Iraq headed by Ammar al-Hakim, said, "The Oil and Gas Law is under discussion in all basic, strategic and high level sessions. For this reason, ad-hoc committees were formed to approve it.”
He confirmed that “the members of the parliamentary Oil Committee will submit the recommendations of the ad-hoc committee to approve the law.” Yet, he refused to disclose these recommendations.
Shara added that “it seems that everyone objects to allowing this law to be transferred to the next parliamentary session.”
♥ LET'S ALL PRAY WE SEE THIS SOONER RATHER THAN LATER. REMEMBER THIS PARLIAMENTARY SESSION ENDS EARLY 2014.. HOPE WE SEE THIS LAW PASSED BEFORE THEN ~RL~
Omar al-Shaher is a contributor to Al-Monitor’s Iraq Pulse. His writing has appeared in a wide range of publications including France’s LeMonde, the Iraqi Alesbuyia magazine, Egypt’s Al-Ahaly and the Elaph website.
*** Furat al-Shara, a member of the Oil Committee, said, “The heads of Iraq’s political blocs must take advantage of the political calm that followed the visit of the Kurdistan region’s president to Baghdad to pass the Oil and Gas Law.” : one article i read " defines " the period of political calm as coincident with Ramadan, so maybe they are talking this month or before Ramadan ends on August 7th, we can only hope so and that the HCL may precipitate our liquidity event. *** chattels
If shame, فصرح not what you want!! Deputy for the Iraqi government and accused the United Nations of killing Organization created!!
Ali Salman - 07/19/2013 - 10:48 p |
Contrary to the will of the Iraqis called politicians, the Iraqi List, the statements in favor of the MEK terrorist created by the tyrant buried Saddam forced on Iraqi soil, Agafzen thousands gram committed against ethnic this terrorist organization .. It is an approach shows disregard for the blood of Iraqis and use this organization as a card in the game of the current political .
He accused the Iraqi List MP appearance Janabi, the government and the United Nations to liquidate members of the terrorist organization to create, present in Iraq, to silence the repeated targeting of Camp Liberty in Baghdad.
Between al-Janabi, in a press statement that the transfer of elements of the creation of the province of Diyala to Baghdad is in order to be close to the militia loyal to Iran.
He said al-Janabi, a member of the Commission on Security and Defense parliamentary, "The silence of the United Nations and the international community about what is happening to the refugees who are in Camp Liberty about operations targeting repeated rocket without taking any action that would protect them or return them to their camp Ashraf in Diyala is actively involved in the process of killing and liquidated that occur to them. "
It is noteworthy that an agreement made concluded in 2010 between Iraq and the United Nations to end the existence of this organization-stained hands of the elements of blood on Iraq, where she participated actively suppress the popular uprising blessed in 1991 and is accused of killing thousands of Shiites and Kurds in the days of the uprising, where I use buried Saddam as repression against Iraqis. , but the elements of the organization and with the help of Iraqi politicians use them as a lobbyist in political wrangling delayed the deportation proceedings organized elements outside Iraq.
He said al-Janabi, that "the transfer of PMOI from their camp Ashraf, in Diyala province, to Camp Liberty in Baghdad was a big mistake because the purpose of the transfer in order to be close to the militia and elements loyal to Iran to wipe them out through the bombardment continued Katyusha rockets," noting that " So make sure you admittedly leader Mukhtar Army and confident Battat on satellite channels, as the bombing of Camp Liberty. "
Referred to the important information and unconfirmed reports that elements of this organization involved supporting terrorism after the fall of Saddam's regime, and other useful information their liquidation operations Iraqis participation after 2003. The terrorist organization and presence in the fighting now on the Syrian arena, which means they become part of the system to confuse the local and Aloagafhlmyh arenas, and it turned out to be guns for Rent
A source in the Iraqi police, have reported Saturday (15 June 2013), that a number of mortar shells fell on Camp Liberty of the terrorist organization created near Baghdad International Airport, referring to the killing and wounding dozens of them
Najafi: Iran-Iraq relations distinctive and important Ahmadinejad's visit to strengthen
19-07-2013 | (Voice of Iraq)
Alsumaria News / Baghdad
Description House Speaker Osama Najafi, Friday, Iraqi-Iranian relations as "special", referring to the importance of the visit of Iranian President outgoing Mahmoud Ahmadinejad to strengthen these relations, Ahmadinejad stressed the importance of solidarity between the two countries and Islamic countries, particularly Egypt and Turkey.
Nujaifi said in a statement after meeting with Ahmadinejad and his entourage, and Tqlt "Alsumaria News" a copy of it, that "relations between Iraq and Iran on the best of what is," stressing that it "special relations in the security and economic and visits religious holy places that loves to the hearts of the brothers of The Iranian side. "
The head of the House of Representatives on the "depth of historical and fraternal relations between the two countries," adding that "The visit is very important for the two neighbors because of Tmlkan heritage and authentic historical ties."
For his part, Iranian President, according to a statement on the "depth and strength of the fraternal relations between the two neighboring countries and the importance of developing and strengthening at all levels and participants large between the two countries," stressing the need for "solidarity and cooperation between Iraq and Iran and Islamic countries, especially Egypt, Turkey and the countries of the region in order to overcome the challenges faced. "
The president arrived in the Iranian outgoing Mahmoud Ahmadinejad, on Thursday (July 18, 2013), to Baghdad on an official visit, and made official visits to a number of officials of the Iraqi, including Prime Minister Nuri al-Maliki and Vice President Khodair al, and the President of the National Alliance, Ibrahim al-Jaafari.
It is noteworthy that the Iraqi-Iranian relations and despite the improvement in the political and economic fields after the fall of Saddam Hussein's regime in 2003, but the problems inherited from the eight-year war between the two countries are still stuck, especially in border issues and waterways.
Parliamentary economy: the government is under internal and external pressure by traders for non-activation of the Tariff Act
19-07-2013 11:33 AM
Baghdad (news) .. Ruled out the decision of the Commission of Economy and Investment MP / coalition of Kurdish blocs / Mahma Khalil, activation of the Tariff Act during the coming period due to demand federal government lingered during the next three years.
Khelil said (of the Agency news): The Iraqi government is under pressure both internal and external by merchants to non-activation of the Tariff Act because it would hurt their interests, prompting the federal government to claim for lingered for activating the law for a period of three years to come.
said: that the Tariff Act did not emerge since passed the year (2007) in the House of Representatives and so far, because of the government's refusal to apply, despite he is one of the important economic laws of the country because it would stimulate the agricultural and industrial sectors and promotes the growth of the Iraqi economy. / End / 8. g. / mm
♥ I CAN NOT EXPRESS HOW IMPORTANT THIS LAW IS TO THE GROWTH AND DIVERSITY OF IRAQ'S ECONOMY. THIS IS AN ESSENTIAL LAW TO MEET WTO AND IMF OBLIGATIONS!! ~RL~
A member of the Parliamentary Integrity attribute the delay to resolve the corruption files to the reluctance of the judiciary
Follow-up - and babysit -
He attributed a member of the Integrity Commission the Jawad Alshahyla, parliamentary delay resolving the corruption files to the reluctance of the judiciary.
The Transparency International revealed in a report on corruption index for 2012 for 176 countries across the world, including 10 Arab countries, occupied advanced positions between the most corrupt countries, where Iraq was ranked third Arab world, ranked 170 in the world.
The Alshahyla said "corruption files have been forwarded by the Commission on Public Integrity, and according to official letters received by the Integrity Commission has proved that it has referred all files of corruption to the competent court."
He added that "it is supposed to be a solution to this problem," noting that "there are extended legal to resolve all claims of corruption, whether criminal or civil, including cases of corruption, as well as the extent of the amount of waste in public money, and all that falls to the reluctance of and eliminate delays in resolving the corruption files, and the delay was due to lack of competent judges. "
It was Iraq and the United Nations have signed on 11 June last memorandum of understanding to support Iraq's efforts in the fight against corruption, which "seeks to promote the efforts of Iraq and its official institutions and civil in addressing the crimes of corruption in its various forms and addressing raised and their implications dangerous on the performance of democratic institutions and law enforcement and the completion of plans and programs for development and achieving welfare, justice and equality in the ranks of society