Iraq an economic Study

Iraq is preparing to launch Vision 2030 to develop its economy

14/07/2017



Baghdad:

The Director of the Office of the Prime Minister, Novell Abu Hassan Barns Friday that Iraq will be put next fall to see "Iraq 2030" to develop its economy in cooperation with international and local expertise.

Hassan said during his speech at the International Alliance Conference in Washington vassal "Economy News", that "on the medium and long term We work with international organizations, experts and specialists for the reconstruction and construction of all Iraq and move investment plans and economic and financial reform and anti-corruption file."

He added that "despite the preoccupation with the war, we continue to work with local and international experience of more than two years to prepare a comprehensive vision for the next decade will offer this fall is the vision of Iraq 2030".

[link to economy-news.net]

Governor of the Central Bank: We seek to balance the sale of the dollar and maintain it



16 July 2017 - 11:19

Economy and business

Alsumaria News Details Back

Governor of ...

Alsumaria News / Baghdad

The governor of the Central Bank, Sunday, the bank's quest to achieve a balance between the sale of dollars and maintain it, indicating that the balance away from the margin of speculation and achieve significant profits.
Al-Alak said in an interview with Alsumaria News that "the bank seeks to balance the sale of the dollar and maintain it," noting that "the balance in foreign currency as sufficient as in previous years there is no margin and field of speculation and achieve large profits."
"Iraq is going through extraordinary circumstances because of the drop in oil prices significantly, which makes the central bank's policy to two options either to respond to the dollar to eliminate the margins and this will be at the expense of reducing the reserves of foreign currency or sell the sale and accept the margin of exchange rate rise, "The bank seeks to balance the two goals."



[link to www.alsumaria.tv]

Central Bank announces maintain its independence after foreign control over the price of the dollar

the central bank's budget represents the balance of the monetary base, which local has become assets of the credit is equal to or greater than assets foreign and this is threatening the ability to extra lending. "
Dagher warned "there is a significant threat to the monetary reality is foreign assets that represent the original in the creation of assets and reserves dinar," noting that "local assets has become a big pressure should stop because the central device towards them is unable to continuity."
Among Dagher that "the solution is to reform the reality of the border crossing points, which the government stopped shining in its implementation, because the border port settings means adjust the currency and information selling and financing import window," adding that "the investment budget stalled three years ago, the inability of ministries to provide investment projects level the feasibility study for the benefit of foreign loans because of the lack of institutional controls in the country. "
[link to economy-news.net]

of Iraq calls on Britain to contribute to the opening of the headquarters of the International Monetary Fund , the IMF in Baghdad

Jaafari expressed during the meeting, Iraq is looking forward to support Britain in the opening of the headquarters of the International Monetary Fund, the IMF in Baghdad, and a meeting of the Iraqi Business Council British during the coming period to increase trade and investment cooperation between Baghdad and London.

[link to www.shafaaq.com]

Thanks, OC. Sounds like he's saying they can either keep the auctions going and watch their reserves decline, or float the dinar and see what happens. I vote option B.

You are welcome and I agree with what you said.

I hope something is just awaiting the thumbs up

Can't post the link, but this is a big piece. They've been poor mouthing their reserves for a long time. All of the news on their coverage of their money supply, even when reserves were $80 billion, had the coverage at 1.5-2 times.



"The spokesman for the Bank, Acer Jabbar told the agency," Information "," Iraq and despite the decline in international oil prices over the past three years, but the central bank was the first supporter of the Iraqi economy and provided funds to conduct the affairs of the country, "asserting that" Iraq now has a cash reserve from Hard currency exceeds three times the mass of cash at home and this is reassuring. "

CBI website is down. They say hacked on DV, but I don't know, for a fact, that it's been hacked.

Dv doesn't know either.

Time will tell

Can't post link


Saleh: The Iraqi dinar is stable and there is no collapse fears against foreign currencies


Saleh: The Iraqi dinar is stable and there is no collapse fears against foreign currencies
Confirmed Prime Minister for Economic Affairs Advisor to the appearance of Mohammed Saleh , the stability of the Iraqi dinar exchange rate against foreign currencies and there are no fears of deterioration in value.
Saleh said in a press statement that some seek to reduce the Iraqi currency against foreign currencies for profit only, and on the external debt and borrowing Mohammed Saleh pointed out that internal and external borrowing to finance the budget deficit is a process that is not contractionary , as some claim it is a motivational process and expansive fight deflation do not affect the Iraqi economy.

We are Stabilizing IQD Exchange Rate without a space for Speculation: CBI Governor



On Sunday, the Governor of Iraqi Central Bank issued a statement that main objective of CBI is to stabilize the balance between the sale of U.S dollar and demand in the domestic markets. He also added that the sustainability shouldn’t be considered an edge of speculation and huge profits. The Governor of CBI delivered his words in a press interview with Alsumaria News and indicated that the Bank is looking to maintain a balance between the sales of U.S dollar and to keep it stable. He pointed out that the balance of foreign currency has become strong in the past couple of years and there isn’t any kind of space for speculation and huge profits. He added that Iraq has been experiencing some exceptional circumstances and a significant amount of decline in the global oil prices was considered one of the major reasons behind the economic and financial crisis in the country.

He added that there were two choices in front of the policy of Iraqi Central Bank, whether to respond the U.S dollar to prevent the speculations. But, it would be more costly in the reduction of foreign currency reserves at the CBI due to the foreign currency sale process or accept a margin of increase in the U.S dollar exchange rate against the Iraqi dinar currency. He said that the Iraqi Central Bank was looking to maintain a balance between two objectives. He said that CBI was established as an independent bank under the law implemented on 6th March 2004. The Iraqi Central Bank is an independent body and responsible to maintain Iraqi dinar exchange rate and to implement its monetary policy. He added that the Central Bank of Iraq is also supervising 10 commercial banks, 16 Islamic banks, 26 waged banks, 19 foreign banks, 6 financial institutions and at least 31 financial conversion companies.

Last Edited by Ohio chic on 07/18/2017 05:54 AM

The Ministry of Finance confirms the inclusion of all ministries and government advances

[link to economy-news.net]

New post]   Iraqi banks are looking with the US Treasury to open relations with foreign banks

She added that "dialogue session aimed at opening a new page of relations with foreign and specifically with US banks banks", indicating that "the committee formed under the chairmanship of the Central Bank of Mazen morning, and it was agreed to form a delegation comprising government and private banks to visit the United States and establish strong relationships with correspondent banks US specifically. "
She noted that "the Arab American banking conference will be held in New York on the sixteenth of the month of October next and Iraq will participate with a delegation senior banker," pointing out that "there is great confidence got between the Iraqi Association of private banks and the US Treasury."
On the other hand, Minister Plenipotentiary for Economic Affairs at the US embassy Larry Mimut said, during the meeting, "seen on the activities carried out by the Iraqi Association of private banks, including charity and human capacity development working in the banking sector through training, specifically in the fight against money laundering and terrorism financing file."
He pointed out that "the banking sector and one of the main reasons for the development of the Iraqi economy, and we will work with those who support it to develop and encourage Iraqi banks to open relations with the US private banks association."
He called Mimut private banks to "the need to find new ways to lend to small businesses because it contributes to the development of the relationship between banks and foreign companies that will lead to the development of relations with foreign banks," pointing out that "the US government can not impose anything on the private banks."

[link to economy-news.net]

The World Bank responds. Took them 6 days.


World Bank to show Ebadi readiness to support the government's efforts and plans for economic reform


Baghdad today / Baghdad

Showed the World Bank, on Wednesday, its readiness to support the Iraqi government's efforts and plans for economic reform, as he emphasized Prime Minister Haider Abadi, the importance of cooperation with international efforts to speed up the related job creation program steps.

A statement by the Information Office of the Prime Minister, said that "Haidar Abadi, received in his office today, the regional director of the World Bank," noting that "the meeting saw the discussion of ways of initiatives for stability and reconstruction coordination."

The Regional Director of the World Bank, according to the statement "congratulated Ebadi and the liberation of Mosul victories," stressing "the readiness of the World Bank to help and support the Iraqi government's efforts and plans for economic reform and the promotion of reconstruction projects and the development of Iraqi cities."

The statement quoted Abadi, his emphasis on "the importance of cooperation with international efforts in support of Iraq, and accelerate the related job creation program steps, and stimulate the economy, and the return of displaced people to their homes."

[link to baghdadtoday.news]

Last Edited by Revbo™ on 07/19/2017 10:46 AM

You guys rich yet?

Been trying to post and I get an error saying page not found
This is a test post

Ok won't let me post link so here's article

Keywords highlights the obstacles facing monetary stability





(Morocco Today) -20/07/2017
Said the governor of the Central Bank of Iraq, on the Keywords, the financial and monetary stability in Iraq is facing phenomena represented in the non - oil deficit resulting from the difference between revenues and local expenditures, and the 78 - trillion dinars' about $ 70 billion ', pointing out that' the second phenomenon is the growing deficit in the budget , which reached 21.6 trillion dinars, and added to the deficit in the balance of payments of non - oil exports of 37.7 billion dollars ', declaring that those negative indicators clearly reflect a significant imbalance structural'.
He considered Keywords in a seminar organized by the 'Institute for the progress of development policies', in the presence of experts in economics and money, to' improve the reality of monetary and fiscal policy requires the strengthening of local revenue and activating the redistribution of income to move the economy policy, through the benefit of the money supply in the markets of salaries, which a large part of which goes to cover foreign imports'.
Keywords stressed the need to 'pressure operating expenses according to strict scientific controls and standards, and reduce the demand for foreign currency factors and to provide elements of stability to reduce the migration of funds, as well as providing an attractive environment for investment.'
For his part, the financial advisor to the Prime Minister, the appearance of Mohammed Saleh, that the Central Bank of Iraq was independent from the government in the first period, but when the economy faced a deficit started this independence weakens pointed ', saying:' began the central bank lends the government turned its independence to the second division '.
Saleh stressed that " the central policy was a major reason for the victory of Iraq in its war against terrorism, through the hidden national role played in supporting the government, crossing danger ', and saw that the central bank' was faced with two choices, to give up its independence and lends the government under the circumstance complex or reduce the value of the Iraqi dinar ', adding' and here may provide some money to the government, but we will be in front of a big rise in inflation rates, and will not have the money any value available, so the bank sacrificed the center of internal independence and lent the government to confront the stability of the crisis. "
Saleh pointed out that the value of the loan to the government of 21 trillion dinars in two years, to meet the needs, believing that this is a part of the victory in the war against terrorism through the funding of the budget, check the military victory , which was behind the victory of a financial and economic '.
Saleh pointed out that ' the investment file in Iraq , the results were not in the level of funds spent, amounting to $ 360 billion over 10 years, through the inclusion of a large number of projects in order to get up the country', stressing that ' the result was disappointing and this was in the oil abundance of time, while in the top ten oil time orientation it was about an increase in oil product quantities and source to compensate for the difference in prices by investing in the oil sector, which is unbalanced and leaving the leadership of the oil sector ', declaring that it' means a return to point zero means that the oil is a horse that leads the development cart '.
With regard to debt, Saleh warned that this file is one of the 'dangerous files', revealing that the IMF is working to determine the level of carrying Iraq 's public debt, and did not lose sight of that Iraq is facing a problem at the customs border and ports that are experiencing great corruption, so moving the government to outsourcing outlets to specialized companies'.
The former Minister of Planning Mahdi Al - Hafiz, began the seminar by talking about the difficulties facing the Iraqi economy, pointing out that the 'anomalous situation of fiscal policy raised the importance of thinking about new sources to strengthen the financial situation, particularly through cooperation with the Bank and the International Monetary Fund, in order to increase funding external conditions appropriate ', pointing to the ' start of the so - called credit phase that provide parts of the external financing of these organizations and other sources. "
Hafiz highlighted that the Government 'initiated the agreement with the International Monetary Fund and the end of 2015 to this goal, through the issuance of the so - called Letter of Intent and «memorandum of economic and financial policies', following the credit phase' includes a range of basic tasks, including revision of the fiscal policy General and the issuance of a new law so, the restructuring of the banking sector and confirm the audit of the financial statements of the banks' Mesopotamia 'and'arashid' and'alaraca trade ', which accounts for about 90 percent of the deposits of the state'.
He stressed Hafiz, that the credit stage 'confirms subjecting monetary policy to control, especially in areas related to money - laundering and window selling the dollar, and to address the budget deficit and seek to make it economically acceptable', considering that such measures will help to obtain loans and make positive cooperation with institutions international.
According to Hafiz as witnessed in the recent period B'trah the issue of the supplementary budget for this year, the details were discussed during the last meeting in Amman a month ago, and agreed to provide a loan of 800 million dollars for Iraq, on favorable terms within the standby credit program signed between the parties', did not rule out that 'approved by the international Monetary Fund early August / Au

Not sure if this is relevant to our situation but nonetheless, interesting

Thread: WW3 PREP - U.S. Confirms Authenticity of Secret Iran Nuke Weapons Docs, Officials See Game Over for Deal - Trump admin offls praise Netan!!!p6808

Governor of the Central Bank of Iraq: expect economic movement in the next stage

Iraq is going to be able to attract foreign investments because of the stability of the security situation and increase the number of investment opportunities,” he said.
He added that “foreign investment will not be achieved only by the existence of an efficient banking sector able to absorb this role and interact with him and be a supporter and financier and facilitator of these operations,” explaining that “the central bank now is pushing banks to prepare for advanced roles until the development of its programs and systems so that you can Support investments in the country “.



[link to en.economiciraq.com]

Can't post link

Pentagon gives US company a contract at the Iraqi airbase
Baghdad - Najla al-Tai



The US Air Force has awarded the international holding company Sallyport a $ 134 million foreign military sales contract at the Balad Air Base in Iraq , according to the Pentagon."The US Air Force gave Sallyport Global Holding a foreign military sales contract of approximately $ 134 million to provide support base operations and security services at the air base in Iraq," the Pentagon said in a statement.

"The Pentagon will be working on a contract over the next six months at the base of Balad Air, Iraq, and is expected to be completed by 30 January 2018," the statement said. "The Iraqi government has requested support operations and will be funded from foreign military sales funds," the statement said.

I don´t think this thread will get much action for awhile. Revbo said if anything didn´t happen in June that he was not going to look at it anymore.

Hey buddy, I'm still around. Just watching for more news that Mosul was the turning point, and I found another piece today. I can't ever remember where I post things, but I think I've talked about this stuff here. Economic reform is never going to come from the parliament, or if it does, it will be a very long time, which is why I have thought, for a long time, and especially since the high court ruled in Abadi's favor about his reforms, about two months ago, that they would come from the CoM. ZenMav, who posts here occasionally, has also been talking about economic reform by treaty for a few years. Here's the first real evidence we have of it actually happening. They just voted to allow reduced or no taxes for investors in sectors other than oil, and especially in the recently liberated areas, and here is American investment protection by treaty.



Economy News Baghdad:
The Cabinet decided on Tuesday to authorize the head of the National Investment Authority, Sami Araji, to negotiate and sign a draft agreement to promote and protect investment between Iraq and America.

The Council of Ministers decided in a meeting today Tuesday to authorize the Chairman of the National Authority for Investment the authority to negotiate and sign the draft agreement on the promotion and protection of investment between the Government of the Republic of Iraq and the Government of the United States of America, as amended by the Council State Shura ".
He added that "the Minister of Transport was authorized to negotiate and sign the draft air transport agreement between the Government of the Republic of Iraq and the Government of the United States of America."


[link to economy-news.net]

Last Edited by Revbo™ on 07/27/2017 01:42 PM

Sweet! Thanks Revbo...


The DA site is a little messed up right now, so I cannot locate that last post I did about 3 or 4 months ago of what as left before the "dinner bell" sounds. It included this treaty stuff and doing something about Maliki, and if they hang the Spyker/Speicher? massacre around his neck, that's likely check mate on him. Do not pass GO, and go directly to The Hague ala Saddam Hussein. That, or he flees to Iran and retires with a huge security detail around him until his last days.


The economic reform by treaty is simply the best ideological "solution" to this whole mess. The Shia in Parliament do not have to pass laws that are arguably "Pro-West/Pro-US" so they get to maintain their "ideological" posture with the pedafile Mullahs in Tehran. The US will likely rebuild the autonomous region of Kurdistan & the Sunni areas like Mosul and the Southern region of Iraq closest to Saudi Arabia. I suspect that US companies in Bagdhad rebuilding the joint will be far too antagonostic a venture, and it will likely be Iranian companies doing all of that work.


There's a geopoltical analyst that I follow closely who said Obummer's Middle East policy was nearly identical to W.'s. He also says that given Russia's current displays of aggression - proxy war in the Ukraine, the recent increased presence in Syria, and the 2008 invasion of Gheorgia - that the US policy of parity in the region includes having 4 major players in the region - Israel, Turkey, Saudi Arabia & Iran. ( Kind of explains WHY Allawi never got the PM-ship and Maliki was backed again in 2008 ). The Turks and Iranians are the two powers that you want in the region to be "too much trouble" for Russia.


And, given that we/the US do a bad job of occupying countries, our foreign policy is becoming more and more about political and economic options. Hence, 2 massive embassies where we can maintain "sufficient force" to oversee our interests: one in Bagdhad & now in Kurdistan, AND currency plays with quasi-governmental agencies - Central Banks. (Why? Because that's the only way we are really going to get repaid for our efforts.) So, here we go folks. What I suspect is coming is a huge gamble / agenda / plan for peace in the region to evolve inside a narrative of prosperity. The Middle East and the neighboring countries of Europe & Asia is where the next bull market will take place.

Thanks, Zen. Good to see you here.

Hey Rev, it looks like tomorrow might be a big day.

Hopefully by August 1st anyway.

Remember when Maliki wanted to create the Economic Reform Council or some crap like that, and it was nothing more than another regulatory committee that would garner huge bribes? And, remember when Maliki instructed Parliament to pass a series of crooked laws the GOI cooked up and said that if Parlaiment didn't enact them, then he would do it by treaty?

Well, that was critical. Maliki tipped his hand back in 2013 and I never forgot it, and the more I thought about it, the more it made sense when I combined it with the "Realpolitik" of the Middle East, compliments of Henry Kissinger as you recently reminded me.

Who knows, I might be wrong. But, one thing is certain. If the US investor and US investment is going to be protected via treaty, then any Parliament-pass-the-laws narrative of this investment should be changing soon. We may be closer to the freedom of movement of capital than anyone might consider. And, given that there is a Yuge! international banking conference in New York come October, then Iraq may very well be the toast of the town by then.

Yeah that Dr. Clarke has just said by October today as well.