Shahristani told CNN that: violence will not hinder Iraq's plans to raise oil production
30-09-2013 | (Voice of Iraq)
Outburst of violence in Iraq almost daily bitter reminder that the country is still far from stability and the Sunni-Shiite split, which led to the deaths of more than 6 thousand people so far this time of the year 2013, it appears wider than ever before.
Despite this climate of uncertainty and destruction, a senior Iraqi official said in the energy sector for "CNN" The country's oil production will continue to increase up to 3.0005 million barrels a day by the end of this year.
Said Hussein al-Shahristani, deputy prime minister for energy affairs, said that "two new fields in southern Iraq, near Nasiriyah, Basra, have increased their production."
In this context, says John Dfterius, editor of emerging markets and global capital markets network, "CNN's" News of America, said al-Shahristani told him during one encounters conference security of the Gulf in Dubai, said that "these two fields Sbivan approximately 300 thousand barrels., And there are additional production of other fields, so when we add will have 3 million and 500 thousand barrels to 3 million and 600 thousand barrels per day by the end of the year. "
Iraq had managed to narrowly manage expectations over the past few years. The plan was to reach 6 million barrels per day by the end of this year, and double that level by the year 2020 at the latest. Speculation that reduced to a large extent on the basis of so-called integrated Balstratejah revised.
Shahristani said that "it was necessary to Baghdad to decide whether facing the weight of production or develop a more realistic goal would allow the fields to produce more crude oil over the next two decades."
The Deputy Prime Minister for Energy, "We have decided to go to the second option is to maximize recovery rather than access to the highest possible production in a short time."
Iraq has been subjected to criticism from the departments of energy signed service contracts give companies the global energy giant fee of one dollar and 15 cents to two dollars and 50 cents for each barrel, instead of the signing of the PSAs that give the giants a percentage of the total production.
Shahristani acknowledges that the may ألزمتهم the strategic rethinking in this matter even in some cases to reconsider pre-existing contracts. He said, "I admit that our contracts were too narrow, and perhaps is the most tight contracts that dealt with the oil companies," adding, "We want that oil companies get a good profit in Iraq and that is why now want to reconsider those contracts."
Global climate with its partners in the improvement and Iraq and is confident that he can now have access to a good level of production capacity by the end of the decade. Has committed to produce about 9 million barrels per day, what would put Country بمصاف Saudi Arabia and Russia, the largest producers in the world right now. She has the International Atomic Energy Agency expressed reservations, noting that Iraq will be able to produce 6 million barrels in that time frame.
He says al-Shahristani said "All I will say is that Iraq has signed contracts with the largest oil companies in the world and is the most knowledgeable in this area," he said, adding, "It has a capacity of financial very strong, and if she did," he added, "As well as this it is linked contracts to do this . "
According to the Bulletin of the World Energy data for the year 2013 issued by the British oil company, Iraq sits on 143 billion barrels of crude oil, or 9% of the world's proven reserves. And executives say there is more than this, with the presence of about 300 potential site south-west of the country remains unexplored.
There is also speculation says that the melting ice of relations between Tehran and Washington may be embarking on a partial lifting of economic sanctions imposed on Iran, which dropped its production to one million and 500 thousand barrels per day. In this context, says Deputy Prime Minister for Energy Affairs, said he hoped to hold negotiations in good faith, but it is not expected to be as a result of this lower oil prices.
However, as al-Shahristani said, should wait to see whether this will impact on oil production in the short term. He noted, "I personally doubt that the year 2014 gives enough time even if eased sanctions" on Iran.
Iraqi blocs on the differences portend election law postponed
30-09-2013 | (Voice of Iraq)
Baghdad: Hamza Mustafa
Revealed political source told «Middle East» that «there is a dispute over the election law not only within the political blocs and even within the ruling National Alliance, a political and parliamentary bloc, the largest in the current parliament in Iraq by 159 parliamentary seats.
The source, who asked not to refer to his name, that «there is convinced the Liberal bloc of the Sadrist movement led by Muqtada al-Sadr, and the Islamic Supreme Council headed by Ammar al-Hakim, within the National Alliance should be the adoption of the electoral law in order to place the next parliamentary elections on schedule while trying a coalition of state law, led by Prime Minister Nuri gain more time toward the law so as not to delay that the Independent High Commission for Elections to hold elections on time, which means requested additional time which means necessarily extend the work of the current government. He explained that «there are indications that the Kurdistan Alliance bloc are other tend to extend the work of the current government and the parliament while it is contrary to the Iraqi List and the National Coalition (the Supreme Council and the Sadrists) and MDC (opposition Kurdish)».
He was the head of the Liberal parliamentary Bahaa al-Araji, yesterday warned of the consequences of the postponement of the parliamentary elections that are supposed to take place early next year. Araji said in a statement that «the lack of agreement on the election law during the next few days may lead to canceled or postponed elections and there are those who pay status differences in the details of the law in order to block any agreement to hold the elections on schedule. He said that the postponement of the elections would lead to a 'lack of full trust between the people and all the components of the political process as it will give an opportunity to the lack of compliance with the law by everyone.
The political body of the National Alliance had discussed during the meeting on Thursday evening the parliamentary election law in order to crystallize see joint تحالفية, in order to create a national consensus to accelerate passing, according to a statement issued by the Office of the President Ibrahim al-Jaafari coalition.
For his part, questioned the decision of the Iraqi parliament and leader of the Iraqi List, Mohammed al-Khalidi in the possibility of passing the law in today's session because there is more political disagreements about it. Khalidi said in a statement to Asharq Al-Awsat that «Parliament Speaker Osama Najafi himself chaired the Legal Committee in the Parliament in order to resolve all the problems of the electoral law and not to give a pretext to the political parties that are trying to gain time in order to extend the work of the government». He added that «work is under way for the adoption of the law, but there are difficulties basic still prevent this, but from our side we will be forced to expose those who do not want the adoption of the law in the event of continued obstacles», refusing at the same time disclosed at this time for the blocks, which seeks to extend the Omar parliament and government.
Analytical Study: Stop stock trading money market puts Iraq on the brink of collapse
29-09-2013 | (Voice of Iraq)
Economic expert warned gentle Abdul Salem Okkaily, in his analytical study of share trading stop in the Iraqi market for securities, because it will lead to the collapse of the economic situation and financial market activity in the country.
Ugaili said in an analytical study prepared (of the Agency news): that the Iraqi market for securities at the present time is the money market only official in Iraq, who invests where many Iraqi and foreign money in stocks Iraqi institution and according to the law, which currently number (84) Company , including 71 companies listed in the formal market, which includes large companies and is referred to as (the first market). He continued: in addition to (13) companies listed in (the second market), which includes small businesses, and in the month of August of the year 2013 occurred shift large in the performance of this market while collapsed Iraqi stock collapse and wide, and the deterioration of the level of trading by a very large increase for (10 %), which was imposed on investors offer their shares for sale in large quantities compared to the level of purchase.
He added: as well as popularized in financial circles about the launch of foreign investors to flee the capital market of Iraq, where it became their sales over purchases for the first time in the history of the capital market, is not surprising in this matter; because foreign investors are watching volume purchases to their foreign counterparts precisely how not flee They see the market drop foreign purchases in the Iraqi market for securities during the month of August 2013 (42%) for purchases in July of the same year, along with falling levels of the month of June (60%).
He Okkaily in the study: There is no doubt that every foreign investor, in addition to Iraq begins to escape from the money market while he is certain of انخفاضاته persistent levels of purchase, as well as declines in the level of trading and Okiemh, not sin against say that this collapse widespread in the Iraqi market for securities Finance did not happen as a result of the accident or the impact of external circumstances.
He explained: He came as a result of administrative decisions taken by the Securities and forced the market management and implementation of shut down more than 20 companies from trading with effect from 8.4.2013, what led to the disruption of nearly a quarter of the market, as well as the transformation of shareholders' investments to a mere worthless papers. He pointed out: that the market has not been affected directly the moment of issuance of this resolution; due to the statements made by many of the officials of the market on their demand of JSC does not shut down stock trading, but make sure investors inside and outside Iraq that this request went unheeded, as well as to the insistence of the Securities Commission (a government body responsible for market supervision) on its decision to stall.
He stressed: It seems that what is important is the implementation of the administrative decision whether intact or wrong, either legally or otherwise. Which led to the implementation of the resolution despite what caused damage beyond the interests of shareholders to contribute to the impact on the national economy.
Against the backdrop of this decision collapsed the record (119 points) at the beginning of the month of August, up to 113 points on 26/09/2013, which means the loss of investors (5%) of their wealth during the month and a half. He noted: Although this ratio seem insignificant to some, but the monetary value equivalent to about 550 billion dinars from the value of their investments, almost any of the (half a billion dollars) lost by investors from their investments during the month and a half due to a jar pen administrator sits at the top of the pyramid of the Iraqi capital market. We have no doubt that the government, the Committee on Economic Affairs, the Council of Representatives, and the Economic Committee, and the Integrity Commission are invited to address this imbalance administrative load the efforts of strenuous efforts of all the faithful of the government, parliament and the media and the general public efforts to raise the level of the Iraqi market for securities.
He concluded Okkaily study: it remains the right of all to wonder about than compensates investors for خساراتهم heavy, but compensates Iraq for the deterioration of the reputation of its market and financial escape investors him by decision prepared by specialists in the law a clear violation of articles 340 and 341 of the Penal Code of Iraq, as well as his successor of damage to Iraq's economic interests and the interests of investors.
Susan Saad: election law included innovative proposals that could lead to the appeal by the Federal Court and delay approval
30-09-2013 | (Voice of Iraq)
MP warned for virtue parliamentary bloc Susan Saad not to vote on the election law this week, calling the political blocs not to circumvent the will of the Iraqi voter law and avoid including innovative proposals that could lead to the appeal by the Federal Court.
She said in a statement today: "The election law can no longer tolerate further delay, especially since the House of Representatives may vote today to compel the Electoral Commission for elections to hold the elections as scheduled, if we want to compel the Commission so we in the House of Representatives that are committed to the adoption of the law as soon as soon as possible, as well as that the Commission had already stipulated that the House of Representatives is committed to the adoption of this law within the specified time limit. "
She stressed Saad on: "should not circumvent the will of the Iraqi voter through some of Titles emergency Kalattabh national compensatory seats, these Titles that have been developed recently were not found in the law that has been read a first reading and again in the House of Representatives, as it contradicts entirely the opinion of the Federal Court that developed the outline of the mechanism of calculating the seats. "
She added: "We must keep the voters by ensuring that transmission of votes from the list to the list of another or from one candidate to another, as long as may be issued this opinion from the Federal Court is binding for all, so why resort to the enactment of the different and contrary to the views to be vulnerable to challenge? , and if the appeal will delay the completion of the law and be returned to the Parliament and read a first and second reading and then vote on it again, and all this consumption of time. "
It continued: "The delay in approving the law will lead to the postponement of the elections, the loser in the event of postponement is the Iraqi citizen, who is looking forward to exercise their democratic right to choose their representatives in the legislative and executive branches, and this requires us to speed up the adoption of the election law as appropriate, taking into account not make an exhibition Appeals. "
Deputy: convergence Tehran and Washington will make us enjoy calm condition internal adjustments to end the marginalization
30-09-2013 | (Voice of Iraq)
Baghdad / Wael grace
MPs and politicians that the convergence of the American-Iranian latter will reflect positively on the situation in Iraq, and end the wave of violence plaguing the region, noting that this convergence will allow Iraq to organize relations comfortable with both parties, and end the fears of some components of the Iranian role in the country, but stressed the need to an internal political settlements between the blocks are embodied in the end differences and stalled the implementation of political agreements, and conduct political reconciliation, coincides with the international and regional developments have led to a dialogue was almost impossible between Tehran and Washington.
Said committee member Nada Jubouri in a statement to the "long" yesterday that "the files Iran - U.S. pending since 1979, and the convergence between the two parties which took place in the General Assembly of the United Nations and the dial between the spiritual and Obama is proof that Tehran is going to solve their problems in the region, in coordination with the United States. "
She added that Iran wants dialogue with the United States in regards to the situation in Iraq and Syria, Hezbollah and Bahrain, and the relationship with the Gulf states, while that Iraq was involved currently in strife sectarian and political, and the increase in victims of terrorism, and the decline file human rights. "
He advises a member of the Foreign Relations Committee, politicians in Iraq "conduct dialogues Links and reconsider the situation in Iraq before you go understandings Iran - U.S. to other orbits not be Iraq's role in it."
She explained that the country's leaders to implement reforms fast in the political system, through the adoption of the Convention on Arbil and the code of honor, and initiatives of reconciliation, adding that the political blocs to retreat from their positions convulsive in favor of political compromises, and respect for the ingredients and get everyone involved in the political process, and follow-up file of human rights " .
Jubouri draws out that "time is not on our side, and Iraq will fall and delayed if continued in stages while being differences of regional and international developments accelerated made by Iran and Tehran on the door of a comprehensive dialogue."
Meanwhile, a former deputy in the parliament and Wael Abdul Latif, the "long" The convergence of the U.S. - Iran will reflect the quieter security in Iraq and the region, which is witnessing turmoil "non-controlled", and adds new understandings with Turkey and the Gulf states.
He pointed out that "Iraq's stability will be achieved when could prevent Iran from interfering in the internal affairs of the country," pointing out that "to allow Iran to intervene was allowed to Saudi Arabia, Turkey and other countries also intervene in the country until we become a regional conflict Square."
He pointed out that "the rapprochement between Washington and Tehran will resolve the war in Syria," believing that "the Syrian army who is locked in a fierce war with the opposition will be the key to Iraq's security in the case of re-control of Syria," adding that "the understandings between the parties will add understandings other between Iran and Turkey with Gulf states, and will be reflected on the calm the situation in Egypt, Tunisia and Bahrain. "
For his part, member of the state law saw Adnan al-Sarraj said "the rapprochement between Washington and Tehran سيلجم terrorism in the region," pointing out that "the understandings between the two countries will allow Iraq to hold dialogues and comfortable relations with America and Iran."
The OS in connection with the "long" yesterday that "Iraq is linked to common interests between Iran and the United States, and that the differences between the parties did not allow Iraq to the establishment of normal relations between the two parties," adding that "the understandings between the two countries will be reflected on the security situation in Iraq, and end the fears of some components of the Iranian role in Iraq, "stressing that" what happened between the spiritual and Obama سيلجم the insurgency in Iraq, Syria, and contributes to the stability of social security in the country. "
The U.S. President Barack Obama announced, last Friday, he had a telephone conversation with Iranian President Hassan Rohani, in a move that is the first between the two main U.S. and Iran since 1979, and took the call 15 minutes through an interpreter, and added that he said to Rohani said he hoped to reach a solution "comprehensive" with Tehran, and pointed out that he and spiritual face teams to work hard in order to reach an agreement.
Participated Iranian President Hassan Rohani, recently, in the meetings of the General Assembly of the United Nations, said in his speech to the Assembly Iran's readiness to hold a new round of talks on various outstanding issues, which met with positive reactions from the international community, who praised trends Iran in resolving the Many of the files.
The description of the U.S. president, Barack Obama, the new Iranian attitudes toward settle things, as a "peaceful and positive steps based on common interests between the two countries and capable of ending tensions that paid for the region and the world."
U.S. researcher: Undo Western diplomatic representation is pushing Iraq to the orbit of Iran
30-09-2013 | (Voice of Iraq)
American researcher saw that Washington went to cut its diplomatic presence in Iraq in the year after the military pulled out of it in the past year as well as the thinking of other Western powers to cut its diplomatic presence means leaving Iraq يرتمي in the arms of Iran.
Said Sarah Burton, a researcher at the American Foreign Policy Council, based in Washington, DC, that involved not يلحظوا great about the center of the hype surrounding the meeting of the General Assembly of the United Nations in New York last week, it was taking place, another group also critical of consultations in Tehran.
On Monday, he began to Iraqi Defense Minister Saadoun al-Dulaimi, a several-day visit to the Islamic Republic in Iran. And on the agenda of the Iraqi minister and his Iranian counterparts, was quoted by the official Fars news agency, to discuss "bilateral relations" between the two countries, and the "regional developments" that affect the security of the two sides.
Dulaimi's trip to Tehran is the latest example, most publicly on Iraq's political path. With the continuing deterioration of the security situation in Iraq, the country is drifting again into Iran's orbit.
To be sure, these things are nothing new. Since the fall of Saddam Hussein's regime in 2003, Iran pursued a dual strategy towards Iraq: Finding space supporter of Iran depends on the orientation of Tehran and generosity. It has done this through a campaign of public and non-public to build influence of her, one of which included financing Shiite militias, and provide support for various Iraqi politicians and involving the resources of intelligence and paramilitary forces in the territory of its western neighbor.
But in the past few years, Tehran's efforts eased at least partly because of the presence of U.S. troops and allied forces, and "Awakening" Sunni, and the Iraqi political system itself, which sought to tighten patriotism and submission to religious identity.
All this has changed recently. In the wake of the Obama administration to withdraw the last U.S. troops in the past year, claimed the growing corruption and factionalism, as well as radical Islam, looked their heads in Baghdad again. In the summer of this year, and in one of the obvious symptoms of the disorder, he succeeded branch of al-Qaeda in Iraq to bring the 500 prisoners in a coordinated attack on two big prisons inside and outside the Iraqi capital.
And unlike what happened during the past half-decade, the coalition forces do not exist in the neighborhood to offer a helping hand. No, Soon, as is the case with Western diplomats, the U.S. diplomatic presence in Iraq will be reduced by the end of this year to about two-thirds, according to orientations of the current U.S. administration.
Also consider other countries in the coalition members make the cut. As Iraq seeks to address the security and put it, inevitably find himself thrown into the arms of Iran.
Iran gains are not simply political. Tehran is working hard to strengthen its economic ties with its western neighbor as well. Fbalaudh to the month of July, the Islamic Republic entered into an agreement important energy agreement with its neighbor Iraq which transmits 25 million cubic meters of natural gas from southern Iran to power plants in Iraq through a new tube. And to be completed by this fall, Iran will be able to get an estimated $ 3 billion and $ 700 million annually in revenues from energy through this is what gives great strength to the country's economy ravaged sanctions.
In the meantime, Iraq will receive up to 25 million cubic meters of natural gas from Iran to provide fuel for power plants across the country, making the Islamic Republic a major player in the future of the energy sector in Iraq.
These developments are re-encoding is now being strategic direction in Iraq. It is also a sign that Iraq, where he made at home American blood and money over the past decade, the decoding of the West relates to Iraq quickly translate into political and economic gains for Iran.
Vietnam Premier Opens Door to Foreign Investors
By Bloomberg News - Sep 29, 2013 7:00 PM ET .
Vietnam’s premier pledged to subject state-owned companies to competition and allow greater foreign ownership of banks as the government seeks to revive growth and join a key trade agreement.
Over the next five years, Vietnam’s state companies will focus on areas such as infrastructure that “the private sector cannot or does not want to invest in,” Prime Minister Nguyen Tan Dung said in an interview in New York on Sept. 27. The government plans to devalue the dong as much as 2 percent by the end of the year and let foreign companies own up to 49 percent of local banks in the “near future,” Dung said.
Vietnam's Prime Minister Nguyen Tan Dung
Nguyen Tan Dung, Vietnam's prime minister, listens during an interview in New York on Sept. 27, 2013. Photographer: Jin Lee/Bloomberg
Vietnam's Dong on Bank Ownership, Economic Overhaul
Sept. 28 (Bloomberg) -- Vietnamese Prime Minister Nguyen Tan Dung talks about foreign ownership in his nation's banking industry and plans to restructure Vietnam's economy. Dung spoke with Bloomberg's Al Hunt yesterday during his visit to New York for the United Nations General Assembly. (These excerpts are in Vietnamese with English translation. Source: Bloomberg)
Interview with Vietnam’s Prime Minister Nguyen Tan Dung
Nguyen Tan Dung, Vietnam's prime minister, right, speaks with Albert "Al" Hunt, columnist with Bloomberg View, during an interview in New York on Sept. 27, 2013. Photographer: Jin Lee/Bloomberg
Vietnam’s economy faces its most severe slump in at least a decade, hurt by slower lending as banks strain under the weight of bad debt incurred largely by the state sector. Removing protections for state companies would help Vietnam in seeking greater access to the U.S. market to strengthen its economy, and underpin efforts to boost political ties.
State enterprises will need “to operate in the market economy,” Dung said in the almost hour-long interview. “We will treat them as equal to other enterprises.”
There are plans to sell shares in companies such as Vietnam Airlines Corp., Vietnam Posts & Telecommunications Group, and Vietnam Oil & Gas Group, he said, without giving a specific time frame for divestment.
Dung said he is considering increasing the foreign ownership limit in banks and telecommunication companies. Total foreign ownership in any lender is currently limited to 30 percent and the holding of any single foreign investor at 20 percent. Those limits curb offshore interest in Vietnamese banks, Standard & Poor’s said last month in a research note.
The government plans to devalue the dong because it considers it overvalued against the dollar, Dung said. The timing of a devaluation is “dependent on the market,” he added.
Vietnam devalued its currency by 1 percent in June, the first move since 2011, and the central bank has said any adjustments to the dong’s value this year would be within a 3 percent range. It has weakened 1.3 percent against the dollar this year, while currencies elsewhere in Asia such as the Philippines and Malaysia have dropped at least 5 percent.
Vietnam has reduced the number of companies that are wholly-owned by the government to 1,300 from 12,000, Dung said. “We will narrow down the areas of operations for these SOEs,” he said. “That focus is mainly into infrastructure.”
State-owned companies in Vietnam are a key source of economic vulnerability, the International Monetary Fund said in August. Government policies dictate that the state sector play the leading role in the economy, with preferential access to land and capital, while non-state businesses face restrictions on market access, Jonathan Pincus wrote in a paper last year while a Ho Chi Minh City-based economist with the Vietnam Program at the Harvard Kennedy School.
“We have been raising this question of level playing field every six months at the highest level of the government,” said Alain Cany, co-chairman of the Vietnam Business Forum Consortium.
“If the prime minister is declaring this in the U.S. in public, it’s probably the most encouraging statement I’ve heard for the last few years,” Cany said. “The country needs this kind of action to be able to go back to the 7 percent growth rates of the past.”
Vietnam’s Ministry of Planning and Investment forecasts the economy to grow 5.4 percent this year and 5.8 percent next year, which would mark three consecutive years of growth that’s slower than 6 percent. Its banks have the highest level of bad debt among the six Southeast Asian countries covered by Fitch Ratings.
The nation’s economy and exports may be boosted if it signs the Trans-Pacific Partnership, a proposed trade agreement with 12 nations. The U.S. will give Vietnam “differential” treatment in negotiating the accord, Dung said.
“We have urged all the members of the TPP to be flexible, taking into account the low level of development of Vietnam,” said Dung. “The United States is willing to be flexible with Vietnam.”
The nation stands to be the biggest beneficiary if it signs the trade agreement, according to an October 2011 study by the Honolulu-based think tank the East-West Center.
The government is under pressure to accelerate reform of its state sector, with a major American stipulation in talks on the pact that private and state-owned companies compete equally.
“It would be very smart for the government of Vietnam to take what it plans to do anyway, i.e., reforming its SOEs, and build that into its TPP obligations,” said Susan Schwab, a former U.S. trade representative from 2006 to 2009.
“You are self-imposing reforms you want to do anyway, and the sweetener you are getting with that medicine is market access and all the benefits you get from a trade agreement,” she said.
General Electric Co. (GE) won a $1 billion order to supply engines for Vietnam Airlines Corp.’s fleet of 787 Dreamliners, Dung also said.
Closer business ties with the U.S. may come as military relations strengthen among the former wartime adversaries, with then-U.S. Defense Secretary Leon Panetta the highest-ranking American official to visit Cam Ranh Bay since the Vietnam War, making the trip in June 2012.
“The United States is a global power and also an Asia-Pacific power,” said Dung. “An appropriate presence by the United States in Asia Pacific will contribute to peace, stability, maritime safety and security.”
At the same time, the U.S. should lift an “unreasonable” and “discriminatory” ban on the sale of lethal weapons to Vietnam, said Dung.
“That shows a lack of trust,” he said. “To be honest with you, even if the U.S. lifts this embargo it is not certain that we will buy the weapons from the U.S., but it is about trust.”
U.S. Secretary of Defense Chuck Hagel accepted an invitation to visit Vietnam next year. He expressed a commitment to boosting defense ties and cited the importance of the peaceful resolution of territorial disputes in the South China Sea, according to a U.S. Defense Department statement. Vietnam is one of a number of claimants, alongside China, to waters in an area rich in fish, gas and oil.
Obama administration officials identify Vietnam as one of the new partners they are cultivating as part of a strategic and economic rebalance toward Asia, wrote Mark Manyin, a specialist in Asian affairs, in a July Congressional Research Service note.
“We were foes before, but we are now friends,” Dung said of the two countries. “We are ready to shelve the past and work together toward the future for our common goal of peace, friendship and cooperation on an equal footing for mutual benefit and development.”
By LARRY ROHTER, Special to the New York Times
Published: March 05, 1988
The Panamanian Government today ordered all banks here to close ''until the supply of dollar bills can be regularized.'' The move was intended to avoid a run on deposits that would force banks into insolvency and touch off a general financial collapse.
But with stores, businesses and factories open today for the first time this week after a four-day general strike, the measure quickly backfired. As owners of businesses found themselves unable to obtain money in any form but cash, the economy began to come to a halt, and by early afternoon some shops had closed again.
The closing of the banks was decreed after the Banco Nacional, which serves as Panama's central bank, said Thursday that it could no longer supply banks here with money. In response, businesses began rejecting all transactions involving checks, local credit cards and travelers' checks, accepting only currency for payment.
Panama's sudden cash shortage is a result of actions in the United States freezing Panamanian Government accounts there. President Eric Arturo Delvalle, deposed by forces loyal to Gen. Manuel Antonio Noriega last week but still recognized by Washington, set up an escrow account and urged that all money due Panama be deposited there.
Stirrup: the deterioration of the general situation in the country led to the fluctuation of stock index
30-09-2013 10:45 AM
Baghdad (news) .. A member of the Economic Committee attributed the MP / National Alliance / Ibrahim stirrup, the cause of Iraqi Stock Exchange index fluctuation rates fell to the lack of trading security and political stability in the country.
He said stirrup (of the Agency news): The stock exchange auction depends on the ratio of supply and demand, which in turn affects the exchange rate of the dinar and the dollar, he said, adding that the stability of the political and security situation works to stabilize the exchange rate and monetary movement and expanding trade.
He explained: that despite the economic growth that Link Iraq, which is estimated at about 10%, but the economy remains very weak and one-sided reliance on oil as a key supplier.
He pointed out: that Iraq needs to diversify its resource in the industrial, agricultural and private sector, because all of these factors in turn affect the stock market and auction market securities.
It is noteworthy that the Iraqi market for securities was established in June (2004) in Baghdad, and works under the supervision of the Iraqi Securities Commission, an independent body established body style U.S. Securities and Exchange Commission.
The performance of the Central Bank in controlling inflation. .
13/09/30 (00: 30 pm)
Dr. Fadhil Abbas Mehdi
The term "publication" in the range "on 28 September 2013, Dr. Mehdi, Mohsen Ismail Al-allaq, Undersecretary of the Ministry of planning and development cooperation an important statement (despite delaying time obviously) about the performance of the Central Bank in controlling inflation, saying:
"Inflation in Iraq has seen in the last nine months of the year 2013 the current stable with a slight increase. He said that "inflation rates in Iraq over the past three years had increased to 2.5% percent" returned to the "reasonable rates for Iraq especially as there has been no breakthrough in 2013.
As she said, "the range", "Undersecretary of the Ministry of planning attributed the stability in inflation rates to major institutions including the Central Bank and monetary policy which support them."
Dr. certificate relationship comes as the head of the Central Bureau of statistics far behind the media campaign led by the Office of the Prime Minister's Office, headed by his brother, Mr. Ali Mohsen Ismail Al-allaq, a Nile paid campaigns of the former Department of the Bank that toppled by Maliki's staff in close cooperation with Parliament Speaker Osama Al-nujaifi. The Department was ousted technocrats in the Central Bank during the honeymoon was short last year when the sacrifice of twenty employees and staff in prisons and detention centres, as well as the ouster of economists who designed and implemented monetary policy which praised Dr. Mahdi relationship in his statement after the length frequency for any.
Unfortunately, the crew who designed this Alaq said monetary policy had succeeded in reducing inflation during the past three years, still chased and there are a number of professional staff including two respected Central Bank still languishing in jail without the right to bail.
What we didn't say in his testimony, Dr. relationship last and together are the following:
If the President of the Court of Auditors of financial ambition Abdel Basset Turki has implemented premature opinions made on the Iraqi TV interview with Abdel Karim Hamadi on March 1 that need private saving $ 500 million a week, ya see what was to become the Iraqi dinar exchange rate collapse?
And what did our esteemed relationship also is a doctor that the deflationary policy changes for displaying the dollar currency auction, carried Turkish briefly had been led, as we all know, the collapse of the exchange rate to approximately 1,300 Iraqi dinars to the dollar in mid-May, the last forcing him to retreat and large additional amounts of USD (for six days a week instead of the usual five in most parts of the world) in the auction currency. The amounts ranged from Turkish currency auction pumped between one billion and 1.43 billion dollars per week instead of the $ 500 million that he claimed on March 1 as a real market need. This was contradicted previous statements to Mr. Turki with his actions and policies, he returned back to give priority to the stability of the exchange rate and the basic policy adopted by the Central Bank within the Department and Vice-President of Shabibi.
We hope that our esteemed Dr. Mahdi says the relationship is:
Is it fair to continue to chase Iraqi economic efficiencies and the crew of the Central Bank and who had praised her achievements in curbing inflation to around 2.5% per annum as recognized finally?
Please also ask us the same question above by Mr. Ali Mohsen Ismail and Osama Al-nujaifi, the forthcoming parliamentary elections and the Government (with the various factions have United against the cessation of economic ءات away from sectarianism) has little of the economic achievements of the people outside the oil sector, which has made strenuous efforts to overthrow the economic team that designed the policy of monetary stability, curb rising prices in acceptable limits.
We say to those who don't know of our politicians ignorant in economics that runaway inflation which the Central Bank policies have succeeded in, etc. is synonymous with poverty and unemployment in the dismantling of the social and political stability.