Source: Baghdad and Erbil negotiations on border crossings and disputed areas failed 2017/11/01 17:49 Baghdad today _ Baghdad Revealed a source familiar with the failure of negotiations between the federal government and the Kurdistan region on the delivery of border crossings in the region and the redeployment of federal forces in the disputed areas, after […]
A serious government warning of the water situation in Iraq 2017/11/1 11:08 [Baghdad: Al Furat News} The Minister of Water Resources, Hassan al-Janabi, described the water situation in Iraq as “critical.” “Due to water scarcity and the decision to pour the Turkish Elissu dam on the Tigris next March, as the Turkish side informed us […]
Mawazine News – Follow upThe elections were due to take place on November 1 but were postponed last month to next year.
During his tenure as prime minister, Nechirvan Barzani was a central figure in mediating oil deals for the region that are now threatened after the federal government re-deployed forces in disputed territory on October 16, including the oil-rich city of Kirkuk.
Reuters quoted government officials as saying that "Massoud Barzani, despite his abdication, will not leave public work."
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The report of IMF experts on Article IV consultations of 2017 for the second review under the three-year credit agreement.
According to the report published by "Trend Press Newsmedia" and requested the Fund through the exemption from the declaration of non-compliance with performance standards and request exemption from the condition of their application and the amendment of performance standards.
The economic adviser to the Prime Minister appearance of Mohammed Saleh, Iraq received $ 4 billion from international institutions supporting.
Saleh said in a press statement on Wednesday, "Trend Press," The negotiations of the Iraqi government with the International Monetary Fund has led to grant Iraq $ 2 billion dollars in the past 18 months. "
Saleh added that "the IMF pledged to pay $ 5.5 billion over a specified period of time, in addition to receiving a loan of two billion dollars from the World Bank for a total of 4 billion dollars."
"Saleh said that" Iraq’s meetings with the IMF focused on reducing the fiscal deficit resulting from the almost total dependence on oil resources financial without activating other resources. "
He pointed out that "the need for a financial will be effective to ensure the future of Iraq’s economic," explaining that "the continuation of negotiations between the Iraqi government and the International Monetary Fund led to positive results, especially in the process of tightening the federal budget and focus on economic points ss
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Baroness Nicholson of Winterbourne, President of the Iraq Britain Business Council (IBBC) and UK Prime Minister’s Trade Envoy for Iraq, led a delegation of 25 IBBC member company representatives on a Trade Mission to Baghdad organised by IBBC Managing Director, Mr Christophe Michels and IBBC Co-Chairman and Iraq Representative, Mr Rasmi Al-Jabri.
Delegates included representatives from Penspen Ltd, Kuwait Energy, Serco, Wood, Ratba’a Contracting Co., Management Partners, Gulftainer, HWH & Associates, Al-Burhan Group, CCC, Dar Group, Restrata, Rolls Royce and new member XReach Ltd.
The delegation met with a number of ministers and high ranking officials to discuss future policies and opportunities for growth as well as focusing on business opportunities for IBBC member companies.
They also discussed the upcoming IBBC Autumn Conference in Dubai to be held on 12 November which will be attended by a powerful Iraqi Government delegation led by the Minister of Electricity. To register, please follow the link: http://www.webuildiraq.org/ibbc-conference/autumn-conference/
During the visit, delegates had meetings with:
The above meetings were joined by a number of Director Generals heading up the different departments in the various ministries.
On Sunday 29 October, IBBC Member Al Burhan Group, generously invited delegates for dinner at the Al Burhan Centre near the Baghdad International Airport.
The delegation was also invited for a Dinner at the British Embassy in Baghdad on Monday 30 October, where members delegates met with Representatives of the Foreign and Commonwealth Office, the Department for International Trade, the World Bank, the EU and the Prime Ministers Advisory Council.
(Source: IBBC)
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Chief of Staff of the Iranian Armed Forces said on Monday that the country’s border with Iraqi Kurdistan region will reopen in coming days.
Speaking to reporters on the sidelines of a local ceremony, Major General Mohammad Hossein Baqeri pointed to the ruling Kurdistan Democratic Party led by Masoud Barzani’s attempts in the Iraqi Kurdistan region for secession and said if the plan for secession had been materialized, “Iraq could entangle in a bloody and long war.”
It “could also affect the neighboring countries,” stated, adding that such a development would create a new conflict in the region.
Elsewhere in his remarks, Major General Baqeri said the restrictions imposed by Iraq on the borders with the Iraqi Kurdistan Region will be removed in the coming days.
In a statement on Saturday, Iran’s consulate in Erbil said the Haj Omran (Tamarchin) and Parviz Khan border crossings in western Iran are still shut and the officials have not made any new decision about those two places.
Iranian and Iraqi merchants and passengers can cross the border via Bashmakh (Bashmaq) border crossing as a replacement, it added.
Iran shut its common frontier with the semi-autonomous Iraqi Kurdistan Region at the request of Baghdad after the Kurdistan Regional Government (KRG) held a referendum to secede from the Arab country in September.
Iraq is planning to take control of the borders of its autonomous Kurdistan region in coordination with Iran and Turkey.
People in the Kurdish region of northern Iraq voted for independence on September 25 in a controversial referendum, amid rising tensions and international opposition.
The referendum set off a chain of events, culminating in a military confrontation between Erbil and Baghdad.
Iraqi government forces launched a major operation in Kirkuk on October 16 and took control of its oil fields and a strategic military base without any armed clashes.
KRG announced last week it was prepared to freeze the results of the referendum.
(Source: Tasnim, under Creative Commons licence)
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10/31/2017
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"Barzani stepped down as a result of American and Gulf pressure after he failed his partition plan," he said."Former foreign minister Hoshiyar Zebari was working for the region only as he helped cement the idea of Kurdish independence in other countries."
"The federal government will not stop until the restoration of airports and border ports controlled by the Peshmerga and re-enforce the law and unify Iraqi territory as it was before 2003," he said. http://www.wataniq.com/news?ID=21159The post State law speaks of the execution of Barzani appeared first on Dinar Guru RV.
10/31/2017
The global media spotlight on Monday, the rapid events witnessed by the Kurdistan region of Iraq, and resigns the outgoing head of the region Massoud Barzani, while the newspaper «Financial Times» that the British step down as a «fall faster» Barzani after the gamble of the failed referendum,
Said that the uprooting in the region, which was supposed to lead to the revival of the "dream of Kurdistan" in the region of separation has probably reflected irreversibly the aspirations of the Kurds to establish a state, noting that Massoud Barzani step down "a positive thing » Clunk.
"The move by Barzani, the 71-year-old, was a gamble that cost him his political life, prompting him to give up his post as head of the region after losing that bet, leaving the Kurds without," the Los Angeles Times reported.
Even if Kurdish factions are struggling to share their powers. "
"We had a lot of powers that were considered sovereign powers, such as controlling border crossings, controlling the airport, and we had our direct diplomacy with the international community, but we lost all of that," Shwani added. "We lost everything because of Barzani’s misjudgment.
And ambitious And therefore his disqualification is a positive thing for the region.
"
Accelerating the fall of the newspaper «Financial Times» British placed on Monday, a title for their coverage of the event to step down Barzani says: «Display Barzani to step down from the presidency marks fallen to rapidly».The report, A few weeks ago he was the hero of the dream of an independent state that his people had long dreamed of, but he took a step that seemed to gamble with the referendum on secession, to face the anger of Baghdad and a sudden split from his rival party aligned with the central government.
After enjoying an unprecedented level of governance "For several years, the Kurdistan government faces two political crises, the first in its relations with Baghdad, which is now designed to reduce the independence of Kurdistan, and the second within the Kurdish region itself, which is the conflict of political factions on how to deal with the results of what happened and who will lead the Kurdistan government now.
Alvdhaiaon Alkrdstaon On the other hand, revealed press reports of fraud authorities in northern Iraq with regard to staff salaries and electronic biometric, used in all circles in order to reduce the level of corruption and increase integrity and transparency in government sectors.
Kurdish government agencies also denied their knowledge of
the fraud. Erases the idea that 660,000 employees out of 1.4 million registered employees do not actually work in the Kurdish government and Kurds wonder why Kurdistan’s economic collapse."The agency concluded at the end of its report:" The people are following the line of their rulers. "
Illusions separatist article from another side, and after a long absence and absconded, the governor of Kirkuk article appeared religion cream star in the Western media to broadcast his poison and spread the patient ‘s illusions about the region of northern Iraq."Barzani carried the banner of the referendum referendum secession of Kurdistan, and the referendum was very peaceful, but unfortunately the reaction of the Iraqi government and countries The neighborhood was harsh, but this dream is still alive, and I am still firmly convinced that Kurdistan will be an independent state one day and often closer than many believe. "
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JICA to Support Reconstruction in Power Supply and Iraqi Government’s Fiscal Reforms: Signing of Two Japanese ODA Loan Agreements for Iraq
The Japan International Cooperation Agency (JICA) and the Iraqi Government have signed two loan agreements at Ministry of Finance in Baghdad.
These two ODA (Official Development Assistance) loans, amounting to JPY 57,220 million (approximately USD 502 million) in total, will be used for Phase 3 of the Electricity Sector Reconstruction Project and the Fiscal Reform Development Policy Loan (II).
The loan agreements were signed by Dr. Maher Hammad Johan, Acting Deputy Minister of Finance and Yuho Hayakawa, Chief Representative of JICA Iraq Office, in the presence of H.E. Mr. Fumio Iwai, Japanese Ambassador to Iraq. These concessional ODA loans aim to support the Government of Iraq and Iraqi people in efforts to reconstruct the country with significant challenges.
The first loan, amounting to JPY 27,220 million (approx. USD 239 million), is used for the Electricity Sector Reconstruction Project (Phase 3). The Ministry of Electricity implements the project which reconstructs and develops fixed and mobile substations in conflict-affected Anbar as well as Baghdad and surrounding areas. The project is expected to contribute to restoration and stabilization of electricity supply to millions of people in conflict-affected areas. Prior to this Phase 3 project, JICA is already funding preceding Phase 1 and Phase 2 projects in various governorates.
The second loan, Fiscal Reform Development Policy Loan (II) amounting to JPY 30,000 million (approx. USD 263 million), supports the budget of the Government of Iraq with urgent needs for enormous financial resources. It aims to promote on-going administrative and financial reforms of the Government through (i) expenditure rationalization, (ii) energy efficiency and (iii) transparency and governance of state-owned enterprises. This is a part of phased co-financing supports with the World Bank and other partners since 2016. The previous phase of this loan, of which amount is JPY 25,000 million (approx. USD 219 million), was already fully disbursed in June 2016. JICA is also implementing technical cooperation for strengthening debt management capacity of the Iraqi government officials, which is required under the reform program.
Both loans are very concessional with the interest rate of JPY LIBOR+0.05% and the repayment period of 15 years including 5-year grace period.
JICA is a development assistance agency under Japanese Government and provides financial and technical cooperation for developing countries. Since 2003, it has provided assistances for Iraq through ODA loans which amount to JPY 683 billion (equivalent to USD 6.0 billion) and technical cooperation including training programs in which more than 8,000 Iraqi officials have participated. JICA supports Iraq’s efforts for urgent reconstruction, stabilization of people’s daily lives and sustained socio-economic development of the country.
(Source: JICA)
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Organized the Baghdad Economic Forum in partnership with the General Secretariat of the Council of Ministers and his second workshop within Saslh workshops agreed upon between the parties), under the title "sovereign funds and their role in the development of the Iraqi economy."
The General Secretariat of the workshop said that organizing the Baghdad Economic Forum in support of the steps taken by the government and the private sector to unify the visions and procedures to develop the Iraqi economy and diversify the sources of the state’s income to cope with future economic shocks.
The head of the administrative body of the Baghdad Economic Forum, Fares Al-Salman, pointed out that "one of the objectives of the workshop is to develop strategic bases that serve the economic security which is part of Iraqi national security in order to ensure the success of the sustainable development process.
The workshop also aims at issuing recommendations on the sovereign funds to be established, To determine their objectives and mechanisms of management and governance rationally through the benefit of the experiences of other countries preceded us in this area with the development of the national touch to suit the requirements of the Iraqi economy.
He added that the working papers:
1- The paper of the Prime Minister’s Advisor for Financial Affairs dealt with the appearance of Mohammed Saleh under the title of "Sovereign Sovereign Fund and Economic Development Guarantees."
he meaning of the Sovereign Sovereign Fund and how it is financed as a temporary sovereign fund for real investment financed from allocations of infrastructure projects in the federal budget available from the country’s own resources.
When withdrawing from it to extinguish the foreign loans provided by the foreign joint venture companies through the foreign government guarantee agencies and the guarantor to ensure continuous implementation and financing to start the contracting works in Iraq,Appropriate and efficient completion and continuous funding.
The DSS will thus act as the guarantor and financier of infrastructure projects.
2 – The paper of the head of research in the Central Bank of Iraq in the name of Abdul Hadi Hassan entitled (options available to build a sovereign fund in Iraq in the current circumstances and the prospect of its future development) offered vision to build a sovereign fund or more and dealt with how to manage and governance and funding and obstacles that can face box .
She also referred to some successful international experiences and types of assets that may be possessed by the Fund or the proposed funds with the proposal to form a working group to establish a sovereign fund with a plan to develop its capabilities in light of the experiences of other countries. .
3- The paper of the former Minister of Science and Technology Raed Fahmi entitled "Sovereign Funds", which reviewed the main types of sovereign funds, their objectives, strategies, their economic role at the national level and the alleviation of the Dutch disease in countries of financial abundance.
The paper forms forms of legal frameworks for the funds and their structures and management and governance as well as the risks that can be faced and the conditions of success of investment funds development within the country, and dealt with the paper pros and risks resulting from mismanagement or use of non-objectives of Tassi The paper discussed the model of the Texas School Fund, a special fund for Texas that aims to finance the construction of schools in the state.
"The paper discussed the model of the French Deposit and Trust Fund, its functions and funding, and its supervisors.
4- The paper of the head of the department of economics at the Faculty of Management and Economics at Mustansiriya University, Falah Hassan Thwaini, titled "Possibilities for Establishing a Sovereign Wealth Fund in Iraq."
The paper referred to the experience of the Development Fund for Iraq, which was established under the UN Security Council resolution, Reviewed the sovereign wealth funds in the countries of the world and the value of their assets, and then addressed the reasons for the establishment of an Iraqi sovereign fund and the missed opportunity on Iraq not to establish such a fund when there was a financial abundance caused by high crude oil prices,
and discussed the requirements of the establishment of the sovereign fund and the proposed organizational structure, Suggest a modelCorporate Governance Fund to ensure the achievement of its goals and protect its assets and touched on the classification fund scenarios (Astaqrara, investment, development, Immersed).
5- The paper of the Iraqi Fund for Foreign Development in the Ministry of Finance, Hussein Jaber Al-Khakani, entitled "The Role of the Iraqi Fund for Foreign Development in the Development of the Iraqi Economy", in which he reviewed the historical role of the Fund, the stages of its time and structure as well as the objectives of the Fund and its role in supporting the national economy. Process, nature and quality of assets.
6 – Dean of the Faculty of Business Economics at the University of Nahrain Star Al Bayati entitled (sovereign wealth funds: successful international experiences and the possibility of benefiting from them in Iraq), which dealt with the basic idea of the basic type of sovereign funds, the international experience in the field of sovereign funds with the obligations to create a fund for wealth Sovereign in Iraq, and presented (5) types of proposed sovereign wealth funds, and recommendations adapted to the Iraqi situation.
7- The research paper (the Iraqi economy and the development path under the Development Fund for Iraq) Bilateral participation between the universities of Baghdad and Mustansiriya dealt with the adoption of the idea of establishing an Iraqi sovereign wealth fund adapted to the reality of the Iraqi economy and touched on the specificity, nature and indicators of the performance of the Iraqi economy, the sectoral structure of GDP, The oil sector in the Iraqi economy, and the paper presented a strategic vision for the development of the development of Iraq’s sovereign fund.
In his speech, Al Salman pointed out that Iraq is characterized by abundant sources of resources and natural, financial and human resources as well as the importance of its geopolitical position in the region, which urgently requires that there be a rational management of its resources and economy,
and this requires the implementation of measures to reorganize the Iraqi economy In order to promote the pillars of sustainable development to create a dynamic economy, including the establishment of a package of sovereign funds managed by good governance and transparency as well as the development and support of the Iraqi Fund for Foreign Development as one of the tools of influence of the Iraqi state to secure the vital area within the theory of the mother National Iraqi.
A joint committee of experts from the General Secretariat of the Council of Ministers and the Baghdad Economic Forum was formed to write recommendations.
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