Category: Development Fund For Iraq

IMF recommends accelerating the pace of financial reform in Iraq

recommended report issued by the International Monetary Fund for Iraq pace of structural reform to boost growth and job creation in the private sector, and the need to continue the good governance of foreign reserves at the Central Bank of Iraq and the Development Fund for Iraq.
The report recommended that display the Resident Representative of the International Monetary Fund for Iraq Ghazi الشبيكات during a press conference held at the Iraqi Business Council in Amman to “accelerate the pace of structural reform to boost growth and job creation in the private sector and the intensification of work for the Liberation of the foreign exchange market and the creation of a stable exchange rate and simplify the instructions of foreign currency . “
He stressed “the need to ensure the continuation of fiscal consolidation and building margins and preventive financial face of fluctuations in oil revenues,” stressing “the need to continue the governance of reserves of foreign Central Bank of Iraq and the Development Fund for Iraq and deepen the reform of the financial sector and the establishment of equal treatment for private banks. ”
He advised the report “Iraq by creating a system of anti-money laundering and counter-terrorism and there should be management prudent reserve the Iraqi Central Bank’s foreign currency and the Development Fund for Iraq,” calling for “a law on the Gaza hydrocarbons and investment in electricity production and the abolition of fuel subsidies granted to producers and restructuring of state-owned enterprises Iraqi and governance reform and capitalization of institutions that can be fixed and the closure of non-viable. “
The report emphasized “the need to improve the business environment and attention to the agricultural sector through the reform of the public distribution system, which contributed to the decline of domestic production and to reconsider support mechanisms provided by the Iraqi government to its citizens,” noting that “the cost of supporting the fuel up to $ 10 billion or so. ”
The Resident Representative said “the most prominent risks facing Iraq is the implementation of weak political reform and the decline in the level of political and security situation and the delay in increasing the volume of oil production and declining global oil prices,” pointing to the necessity that “Iraq has the private sector is able to produce and direct investment sectors, non-oil especially electricity and agriculture that Iraq has a significant competitive advantage, “stressing that” Iraq needs to long years of work to rebuild the fortune of mankind. “
He added, “Despite the political and security conditions difficult through which Iraq but were positive economic developments in general has witnessed accelerated economic growth reached 8. 4% last year and is expected to reach 9% during the current year. ”
He explained that “macro-economic prospects over the medium term will remain driven by developments in the oil sector, where output is expected to rise gradually from Iraq’s oil by 500 thousand barrels per day in the year to up to 5. 7 million barrels per day by the year 2018 compared to 3. 3 million barrels

IMF recommends Iraq liberalization of the foreign exchange market

Posted 23-07-2013 08:05 PM
Baghdad (news) . . report recommended that the International Monetary Fund, Iraq, ensuring the continuation of fiscal consolidation and building margins and preventive financial face of fluctuations in oil revenues. and recommended the report, which was announced on Monday, at the headquarters of Iraqi Business Council in Amman, to intensify work to free foreign currency market and find a stable exchange rate and simplify the instructions of foreign currency. also recommended continuing governance of reserves of foreign Central Bank of Iraq and the Development Fund for Iraq, and deepen the reform of the financial sector and the establishment of equal treatment for private banks. The report recommended that display the most important joints Resident Representative of the International Monetary Fund for Iraq in Amman, Dr. Ghazi الشبيكات during a press conference, to accelerate the pace of structural reform to boost growth and job creation in the private sector. advised الشبيكات Iraq to find a system to combat money laundering and the fight against terrorism and that there will be management of prudent reserve the Iraqi Central Bank foreign currency and the Development Fund for Iraq. called to: pass a law on sector, hydrocarbons and investment in electricity production and the abolition of fuel subsidies granted to producers, and the restructuring of state-owned enterprises and Iraqi governance reform and capitalization of institutions that can be repaired and the closure of non-viable, and called for the need to improve the business environment and attention to the agricultural sector through reform of the public distribution system, which contributed to the decline in production Local and reconsider support mechanisms provided by the Iraqi government to its citizens, noting that the cost of supporting the fuel up to about $ 10 billion. said الشبيكات: that the most prominent risks facing Iraq is the implementation of weak political reform and the decline in the level of political and security situation and the delay in increasing the volume of oil production The decline in global oil prices. stressed: the need that Iraq has the private sector is able to produce and direct investment sectors, non-oil private electricity and agriculture that Iraq has a significant competitive advantage, stressing that Iraq needs long years of work to rebuild the wealth of mankind. said: he In spite of the political and security conditions difficult experienced by Iraq, but the economic developments were positive in general, where he witnessed the economic growth acceleration reached 4. 8 percent last year and is expected to reach 9 percent during the current year. pointed to: that the economic outlook college will remain in the medium term driven developments in the oil sector, where output is expected to rise gradually from Iraq’s oil by 500 thousand barrels per day in the year to up to 7. 5 million barrels per day by the year 2018 compared to 3. 3 million barrels currently. / t. St. /
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IMF recommends accelerating the pace of financial reform in Iraq

recommended report issued by the International Monetary Fund for Iraq pace of structural reform to boost growth and job creation in the private sector, and the need to continue the good governance of foreign reserves at the Central Bank of Iraq and the Development Fund for Iraq.

The IMF recommends accelerating reform the skeleton in Iraq

Baghdad/follow the Obelisk: I recommend a report issued by the International Monetary Fund Iraq the pace of structural reform to boost growth and job creation in the private sector, and the need to continue the rational management of the foreign reserves of the Central Bank of Iraq and the Development Fund for Iraq.

The report recommended that the resident representative of the International Monetary Fund for Iraq Qazi shubaikat at a press conference held at the headquarters of the Iraqi Business Council in Oman to “accelerate the pace of structural reform to boost growth and job creation in the private sector and intensify action to free foreign exchange market and a stable exchange rate and simplifying the instructions of foreign currency“.

He stressed “the need to ensure the continuity of fiscal and financial preventive margins to meet fluctuations in oil revenues”, stressing “the need to continue the rational management of the foreign reserves of the Central Bank of Iraq and the Development Fund for Iraq and the deepening of the reform of the financial sector and establishing equal treatment for private banks.”

The report advised Iraq to create a system to combat money laundering and the fight against terrorism and to be prudent management of Iraqi Central Bank reserves of foreign currency and the Development Fund for Iraq “, calling for” a law on hydrocarbons sector and investment in the electricity production and the abolition of fuel subsidies granted to producers and the restructure of State-owned enterprises and governance reform and capitalization of the institutions could be repaired and the closure of non-viable “.

The report stressed “the need to improve the business environment and the agricultural sector through the public distribution system reform which contributed to declining domestic production and review mechanisms of support provided by the Iraqi Government to its citizens,” he said, adding that “the cost of support fuel up to 10 billion dollars.”

The resident representative said that “the main risks facing Iraq is the poor implementation of political reforms and drop the level of the political and security situation and the delays in increasing the volume of oil production and falling oil prices globally,” pointing out that “Iraq has a private sector capable of production and directing investment to sectors other than the it herewith particularly electricity and agriculture where Iraq has a significant competitive advantage”, stressing that “Iraq needs years of work to rebuild his fortune.

“Despite the difficult political and security circumstances in Iraq but the economic developments were generally positive as economic growth accelerated 8.4 percent last year and is expected to reach 9% this year.

“The macroeconomic Outlook in the medium term will continue to be driven by developments in the oil sector, where production is expected to increase Iraq oil gradually by about 500,000 barrels per day (BPD) in the year to 5.7 million barrels per day by 2018 compared with 3.3 million barrels.

Link

IMF – August 2012 Reminder Article: The IMF announced on his agreement with Iraq through which their loan extended for seven months until February 23, 2013 for the Iraqi Government to implement a range of actions in the exchange-rate regime in the country.

IMF recommends Iraq liberalization of the foreign exchange market

Baghdad (news) .. report recommended to the International Monetary Fund, Iraq, ensuring the continuation of fiscal consolidation and building protective margins to cope with financial volatility in oil revenues.

The report recommended which was announced on Monday, at the headquarters of the Iraqi Business Council in Amman, [size=18]to intensify its work to liberalize the foreign exchange market and find a stable exchange rate and simplify the instructions of foreign currency.

It also recommended the continued good governance of foreign reserves at the Central Bank of Iraq and the Development Fund for Iraq, and deepen the reform of the financial sector and the establishment of equal treatment for private banks.

The report recommended that the presentation of the most important joints Resident Representative of the International Monetary Fund for Iraq in Amman Dr. Ghazi الشبيكات, during a press conference, to accelerate the pace of structural reform to boost growth and job creation in the private sector.

And advised الشبيكات to Iraq to find a system to combat money laundering and the fight against terrorism and that there be a prudent management of Iraqi Central Bank reserves of foreign currencies and the Development Fund for Iraq.

He called for: a law on the Gaza hydrocarbons and investment in electricity production and the abolition of fuel subsidies granted to producers, and the restructuring of state-owned enterprises and Iraqi governance reform and capitalization of institutions that can be repaired and the closure of non-viable, and called for the need to improve the business environment and attention to the agricultural sector through reform of the distribution system year, which contributed to the decline in domestic production and to reconsider support mechanisms provided by the Iraqi government to its citizens, noting that the cost of fuel subsidies up to about $ 10 billion.

Said الشبيكات: that the most prominent risks facing Iraq is the weak implementation of political reforms and a decline in the political and security situation and the delay in increasing the volume of oil production and the decline in global oil prices.

He stressed: the need that Iraq has a private sector capable of production and direct investment in non-oil sectors, especially electricity and agriculture that Iraq has a significant competitive advantage, stressing that Iraq needs long years of work to rebuild the wealth of mankind.

He stressed: that in spite of the political and security conditions difficult experienced by Iraq, but were positive economic developments in general has witnessed accelerated economic growth reached 4.8 percent last year and is expected to reach 9 percent during the current year.

He pointed out: that the economic outlook college will remain in the medium term driven by developments in the oil sector, which is expected to increase Iraq’s oil output gradually by about 500 thousand barrels per day in the year to up to 7.5 million barrels per day by the year 2018 compared to 3.3 million bpd.

LINK

IMF recommends Iraq liberalization of the foreign exchange market

Baghdad (news) .. report recommended to the International Monetary Fund, Iraq, ensuring the continuation of fiscal consolidation and building protective margins to cope with financial volatility in oil revenues.

The report recommended which was announced on Monday, at the headquarters of the Iraqi Business Council in Amman, [size=18]to intensify its work to liberalize the foreign exchange market and find a stable exchange rate and simplify the instructions of foreign currency.

It also recommended the continued good governance of foreign reserves at the Central Bank of Iraq and the Development Fund for Iraq, and deepen the reform of the financial sector and the establishment of equal treatment for private banks.

The report recommended that the presentation of the most important joints Resident Representative of the International Monetary Fund for Iraq in Amman Dr. Ghazi الشبيكات, during a press conference, to accelerate the pace of structural reform to boost growth and job creation in the private sector.

And advised الشبيكات to Iraq to find a system to combat money laundering and the fight against terrorism and that there be a prudent management of Iraqi Central Bank reserves of foreign currencies and the Development Fund for Iraq.

He called for: a law on the Gaza hydrocarbons and investment in electricity production and the abolition of fuel subsidies granted to producers, and the restructuring of state-owned enterprises and Iraqi governance reform and capitalization of institutions that can be repaired and the closure of non-viable, and called for the need to improve the business environment and attention to the agricultural sector through reform of the distribution system year, which contributed to the decline in domestic production and to reconsider support mechanisms provided by the Iraqi government to its citizens, noting that the cost of fuel subsidies up to about $ 10 billion.

Said الشبيكات: that the most prominent risks facing Iraq is the weak implementation of political reforms and a decline in the political and security situation and the delay in increasing the volume of oil production and the decline in global oil prices.

He stressed: the need that Iraq has a private sector capable of production and direct investment in non-oil sectors, especially electricity and agriculture that Iraq has a significant competitive advantage, stressing that Iraq needs long years of work to rebuild the wealth of mankind.

He stressed: that in spite of the political and security conditions difficult experienced by Iraq, but were positive economic developments in general has witnessed accelerated economic growth reached 4.8 percent last year and is expected to reach 9 percent during the current year.

He pointed out: that the economic outlook college will remain in the medium term driven by developments in the oil sector, which is expected to increase Iraq’s oil output gradually by about 500 thousand barrels per day in the year to up to 7.5 million barrels per day by the year 2018 compared to 3.3 million bpd.

LINK

CBI: CH VII will give Iraq freedom to attract investment. US Development Agency: Iraq qualified to be economically strong state

The Central Bank of Iraq, on Wednesday, that Iraq is “in control of the funds and treasury of gold” in international banks, one of the acting out, denying “the existence of frozen funds outside the control of the Iraqi administration,”

Editorial: Our money and get out of Chapter VII

The decision of the U.S. government to extend protection to Iraqi funds for another year, in sync with the invitation of the Secretary-General of the United Nations Ban Ki-moon, the Security Council to subdue controversial issue only humanitarian remaining between Iraq and Kuwait to Chapter VI of the UN Charter, which urges States to resolve their differences by peaceful means rather than Chapter VII, which authorizes the Security Council to impose its will by force, either through sanctions or military intervention ..

What Born a state of uncertainty and confusion for some people due to extension of protection money against the recommendation exit of Iraq from Chapter VII, which increased mixing Hotzaad confusion with the escalation of news and reports about this matter.

Here we must recall the Security Council resolution 1959 in 2008, who founded this confused since that date, as it counted the decision in a timely departure for Iraq from Chapter VII testimony of politicians from within the institution internationalism next to what established his security agreement between Iraq and the United States, which committed recent work in this direction, and kept some talk about restoring Iraq to its natural role and legal status which was lost after the invasion of Kuwait on 2 August 1990, while the decision did not come out of Iraq practically from Chapter VII, but he acknowledged that Iraq no longer poses a threat to international peace and security, and pledged the text contained therein to reconsider all the resolutions relating to Iraq on Background invasion of Kuwait in 1990 “from UN Security Council resolution No. 661 on 6 August 1990.

give Iraq the possibility to dispose of his assets, which make it protected it in the calculation of the Development Fund for Iraq for one year only by the United Nations, and when it ended the period prescribed for the protection of these funds by the UN in 2009, demanded that Iraq from the U.S. government and according to what is stated in the security agreement between the two countries to protect these funds from commercial creditors who were able to earn about 3500 case against Iraq amounts, amounting $ 7.2 billion, Iraq has for payment to these creditors as debt awarded to the tyrant deposed for marketing or sale of goods, the irony here is that the Iraqi side often does not have to substantiate claims of those who submit their papers and Athbatadthm courts Global competent (on debts and loans allegedly obtained for the dictator deposed) without knowing that Iraq Boliat those issues, remained the specter of trade creditors is a constant threat to these funds, prompting the side of Iraq under conditions Alarbakat political claim the U.S. government to renew this protection each year, the most recent demand recommended by the Economic Committee of Ministers before the end of the period of protection for the past year on 22 / May this year, which came on its impact on the approval of U.S. President Obama to renew the protection of Iraqi funds in the accounts of the U.S. Federal.

coincides approval of the U.S. president this year with the recommendation of the Secretary-General of the United Nations to remove Iraq from Chapter VII of the convergence of views between Iraq and Kuwait, as a result of the political movement and negotiations between the two countries, and out of Iraq from Chapter Seventh would give legal cover and internationally depends upon the Iraqi government to expand its activities and the protection of their funds after five years of liberation from the international trusteeship imposed on it in 1990.

The question here is: Can the people of Iraq to protect their money and turn the page creditors after exit from Chapter VII? Will will of political forces will and a unified national to stand generally mafias Capital Market World after this decision?

said mafias money issues known capabilities high turn around and circumvent the legal order to extort money from the states, companies and individuals a variety of ways, which is worn for bass statutory agencies and the judiciary to creditors have been able to تفبرك many issues in the 3500 issue of Iraq has to pay their dues by the policies of the ousted regime, and therefore you will stand by these agencies at this point?

It is natural to say that the only solution to this dilemma national after he regains Iraq full sovereignty, economic is to have the money deposited in Iraqi banks to be potential issues before the eyes of the Iraqi judiciary, but do we have the SAI can protect these funds from the mafias home in light of this confusion that seen in the country?

Most importantly, do we have the will and genuine national united to defend the sovereignty of our money in light of this wrestle continued and the insistence of some to put sticks in the wheel of economic and political development?

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Excitement in the air

6-28-13 okrocks: Assured that Iraq will move forward economically after being relieved from the 7th Chapter of the UN Charter.” Iraq will gain another point, where it will not be obliged to deposit the oil revenues in the Development Fund for Iraq and will be free to import and manufacture weapons allowed accordingly, be free to import, and manufacture weapons allowed according to the international laws. Baghdad witnessed wide celebrations with huge popular participation on the occasion of relieving Iraq from the UN Charter’s 7th Chapter on last Thursday.