Iraqi Dinar Guru opinions 9-24-17 9-24-2017 Newshound Guru Aggiedad77 Article: “Oil calls for the removal of the oil sector from political conflicts” Quote: “The Oil Ministry confirmed on Saturday that oil is a sovereign wealth and a property of the Iraqi people in all its sectors, including the Kurdistan region…” This appears to spell HCL […]
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Revealed a coalition of state law on the possibility of taking Nuri al-Maliki as the presidency of the Republic, replacing the infallible if the referendum held the alleged Kurdistan.
The coalition said in a statement on Sunday that if the referendum held in Kurdistan on the twenty-fifth of this month, all government positions for the Kurds and Muhanna fall as president of the republic.
He added that "the position will be the entitlement of the first deputy to the presidency of Nuri al-Maliki in the event of a referendum.
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09/24/2017
The Director General of the Fund for the Development of Foreign Affairs Hussein Jaber, the annual rate of profits of the Fund from external contributions range between 18 million and 20 million annually, while the Fund does not exceed the staff of 1.7 million dollars a year », revealing the existence of efforts to resolve the Fund amid parliamentary opposition calls for Support and increase its capital.
Jaber said in a statement that the Fund has since its inception granted development projects medium and long term loans to developing Arab countries on concessional terms and to contribute to development projects, especially those of an Arab economic integration nature.Developing economic development processes in Arab developing countries, providing expertise and cooperation with Arab and international development funds.
He stressed that the Fund plays a very important role, especially in light of the current circumstances in which Iraq is going through, including the financial crisis, and know the size of Iraqi funds invested abroad, but there are those who raise the issue of the solution of the Fund and attached to one of the departments of the Ministry of Finance, considering that Iraq has no investments big. Jaber pointed out that the fund was established for the purpose of development lending. The aim was to invest oil surpluses with simple benefits and long terms of up to 25 years and a grace period of 5 to 7 years before the initial payment.The first loan was granted in 1974 and the latter in 1982. The capital was increased through contributions The Ministry of Finance in five other international funds turned into the Iraqi Fund and estimated at 750 million dollars.
He pointed out that the capital of the Fund is currently $ 1.5 billion, and we seek to revalue the assets and we have only the proceeds from our external contributions. As for the type of investments carried out by Iraq, Jabir said: "Foreign investments are restricted according to the state in which we contribute. There are investments in the Kuwaiti dinar, the dollar, the Jordanian dinar and the Sudanese pound. When we calculate their revenues, they turn to the dollar and then to the Iraqi dinar.percent.
He stressed that Iraq after 2003 did not contribute to foreign investments, and closed all internal and external accounts and proceeds go to the Ministry of Finance or to the Development Fund for Iraq, while the revenues accumulate in the account of the Ministry of Finance to exceed 200 million dollars. The salaries of the staff of the Fund are in the form of grants from the Ministry of Finance, and in 2014 opened a new account of the Fund began to add proceeds and amounted to about 50 million dollars deposited in the Iraqi Trade Bank, and this liquidity can be invested.Jaber pointed out that the Fund contributes to 30 companies internally and externally, 21 profitable companies and 3 losing companies, and there are troubled companies and contributing countries trying to remove Iraq from the projects that contribute.
The Fund was established in 1974 as a financial institution with a moral personality and financial and administrative independence, with a capital of 50 million Iraqi dinars then (42.7 thousand dollars), gradually increasing in 1980 to 200 million dinars.The objectives of the Fund include setting the general policies for investing the funds of the Fund, determining the contribution to the development projects and programs, approving the terms of the loans, determining what the Fund takes for its account and following up Iraq’s multi-lateral and bilateral financial and foreign relations, and managing its contributions to the international, regional and Arab organizations, funds, Relates to external and tax agreements with outside countries.
http://aletejahtv.org/permalink/182921.html
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World Bank Regional Director for the Mashreq, Saruj Kumar Jah, stressed that restoring confidence between the Iraqi state and its citizens is highly dependent on the government’s ability to provide security, jobs and economic growth for all Iraqis.
"The World Bank Group concluded today a series of consultations with various stakeholder groups on the new strategic partnership framework for Iraq for the period 2018-2022, which sets out the key development objectives of the Bank Group," the World Bank said in a statement.The international community to help Iraq to achieve, which suggests inspired by the program of strategic interventions for this purpose.
"The consultations that began on 16 September included several meetings with government officials, members of the Council of Representatives, representatives of the private sector, civil society organizations, academia and international partners." The consultations showed a high level of interest and participation by the Iraqi public at large on issues related to the future Iraq, the challenges facing the country and the opportunities for development are at stake.
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"These sessions were preceded by a first phase of online consultations on social networking channels (from 7 to 13 September), which allowed the World Bank Group to reach nearly 1 million Iraqis from various groups and bodies throughout the country, Mosul and other liberated areas, "pointing out that" the number of responses to online polls reached more than 200,000 comments."
"The results of the discussions and comments gathered during these consultations will be reflected in the review of the final document of the Strategic Partnership Framework, which will be presented to the Board of Directors of the World Bank Group for approval later this year," the bank said. Of the Iraqi government’s development plan in the country, and is in line with its reconstruction and recovery program."
"The strategic partnership framework is based on the findings of the World Bank’s systematic diagnostic report for Iraq, which set three priorities for moving forward in poverty eradication and promoting common prosperity: re-establishing security and rebuilding the social contract," the World Bank said.And the legitimacy of the state, the management of oil wealth in a fair and sustainable. "
"In line with the priorities of the country’s systematic diagnostic report, the objective of the Strategic Partnership Framework is generally to help the Government of Iraq benefit from the liberalization of areas dominated by a nascent organization and the slow recovery in oil prices to rebuild confidence with citizens through the implementation of Critical economic and administrative reforms,efficient and equitable provision of basic services, and ensuring the comprehensiveness and sustainability of recovery and reconstruction efforts.
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"The World Bank Group will seek to support the Iraqi government in designing and implementing response mechanisms based on rigorous economic analysis, mobilizing best practices in recovery and reconstruction planning, and benefiting from sustained international support," the statement said. "Despite the enormous devastation caused by the recent conflict, Iraq now has a unique opportunity to rise again after the restoration of Mosul," said Saruj Kumar Jah, the World Bank’s Mashreq Regional Director, according to the statement. "Much remains to be done."The World Bank Group, through this strategic partnership framework, is ready to support Iraq in its long journey towards reconstruction and long-term development that benefits everyone," he said.
"Re-establishing trust between the state and its citizens is highly dependent on the Iraqi government’s ability to provide security, jobs and economic growth for all Iraqis, especially the poor and the weak, and the millions of internally displaced people affected by the war and their host communities," Kumar said On the sidelines of a consultation session, Acting Deputy Finance Minister Maher said, "Everyone has an opportunity to play an important role in Iraq’s economic, social and infrastructure reconstruction," stressing that "the World Bank is a key partner of the Government of Iraq in its efforts to alleviate Poverty, and the programs and projects that support them are fully consistent with the development vision of the Government and the work of other international organizations.
http://aletejahtv.org/permalink/182915.html
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The head of the outgoing Kurdistan Massoud Barzani transferred his family to the UAE after being invited by the Emir of Abu Dhabi, Mohammed bin Zayed said.
The sources said that the Barzani family left the Kurdistan region on Saturday night, Saturday, and went to Abu Dhabi UAE. "The deployment of military forces at Irbil airport has been remarkably similar, and their direction to the UAE has taken place amid increasing tensions and pressures between the central government and the Kurdistan government, as well as the consolidation of the country’s territory with military forces," she said. It is noteworthy that the referendum raises wide controversy and international demands for the President of the Kurdistan region, Massoud Barzani, to refrain from conducting or even postpone, amid an exchange of accusations between Kurdish officials and their counterparts in the Iraqi government. http://aletejahtv.org/permalink/182930.htmlThe post Massoud Barzani moves all his family to the UAE before the referendum begins appeared first on Dinar Guru RV.
09/24/2017
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09/24/2017
Monetary policy adopts a goal or set of objectives that have a clear impact on the structure of the economy, which makes it an essential part of economic policy.
Monetary policy has played an active role in managing the currency and stabilizing the monetary sector in most of the world economies, including Iraq. Control of the imbalances that affect the economy, notably inflation.
Economist Dr. Qusay al-Jabri told Al-Sabah that monetary policy aims at achieving a high level of use. The monetary authority is keen to stabilize economic activity at the highest possible level of employment for human and natural resources.
The monetary authority must take all measures to reduce unemployment levels, Accompanied by contractionary factors in output, through an expansionary monetary policy that increases investment rates.
Al-Jabri said that preserving the value and volume of trading in the economy and maintaining the balance of monetary values with the real values related to the growth of output is the work of the monetary policy in Iraq and the intervention of monetary authority by controlling the interest rate and bank credit in controlling the spending of economic units, The safety of the currency value of the arbitrariness caused by the balance of payments deficit. Size of assets
Al-Jabri said that when a deficit in the balance of payments increases monetary policy, the interest rate leads to a decrease in the credit of economic units, and then the liquidity, which makes them regain the heads of their employees abroad and the flow of foreign capital to the home following the rise in the domestic interest rate, Foreign assets and improved balance of payments and vice versa occurs in the case of surplus,
and seeks monetary authority to affect the investment environment and recovery and then a continuous and appropriate increase in real GDP or real per capita income, through the impact of investment across Changing the interest rate leading to growth rates in the output and then narrowing the gap.
Credit Flow
The monetary authority should adopt an expansionary policy to avoid aggravation of this situation.
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By John Lee.
L-3 Fuzing and Ordnance Systems Inc., of Cincinnati, Ohio, has been awarded a $16,487,744 contract W15QKN-17-C-0024 for production quantities of 77,114 M783 point detonating/delay fuzes, relating to Syria and Iraq.
Work will be performed in Cincinnati, Ohio, with an estimated completion date of Sept. 30, 2019.
(Source: US Dept of Defense)
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By John Lee.
Iran’s Trade Promotion Organization (TPOI) has issued data showing that five countries — China, Iraq, UAE, South Korea and India — accounted for 68.7 percent of Iran’s total non-oil exports in the first five months of the current Iranian fiscal year (March 20-Aug. 22).
Its non-oil exports (including gas condensate) fell 5 percent in the period, to $17.193 billion.
China was the main importer of goods from Iran, accounting for 21.8 percent of the total, with Iraq taking 15.1 percent with $2.604 billion, followed by the UAE, South Korea, India, Afghanistan, Turkey, Pakistan, Thailand and Taiwan.
(Source: Trend)
(Image credit: Tasnim, under Creative Commons licence)
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