Integrity parliamentary discuss with the Minister of Finance and the Governor of the Central Bank of the issue of deletion of zeros and the proliferat

Wednesday, February 22, 2012

Hosted the Parliamentary Integrity Commission today, Finance Minister Rafie al-Issawi and Central Bank Governor Sinan Shabibi and Chairman of the Integrity Agency Alaa al-Saadi, a number of investigators to discuss a number of important laws and decisions. "

A source within the Commission told all of Iraq [where] said Wednesday that "The discussions centered between the Integrity Commission and the Parliamentary Finance Minister and Central Bank Governor and Chairman of the Integrity Agency on the issue of deletion of zeros and prevent the introduction and spread of counterfeit currency."

And since we are talking about changing the period of currency, and issuing a new currency, and are to note that there are changes will occur in the form of new Iraqi currency, including the removal of zeros, and the inclusion of the Kurdish language alongside Arabic in the currency.

The officials at the Central Bank as well as some politicians and economists urged the government to delete the zeros from the currency and the issuance of new currency denominations large cash in addition to the presence of small coins.

Observers say that the government intends to delete the zeros from the currency as a step towards improving the purchasing power of the Iraqi dinar is that economists played down the importance of this step, considering that the cost of raising the zeros will be greater than the expected benefit of raising the zeros. "

He was an adviser to Prime Minister for Economic Affairs Abdullah Al-Hussein Anbuge had warned earlier in the process of removing the zeros from the currency as it would cause big problems and events confuse the Iraqi economy. Ended 2.

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Finance Minister: We expect tomorrow after adoption of the budget address their problems and disability suffered by the

Wednesday 02/22/2012

Baghdad (news) .. contract, Finance Minister Rafie al-Issawi a joint press conference with the Minister of Planning Ali Shukri today.
Issawi said during a press conference which was attended by reporter Agency (news) on Wednesday: The meetings continued yesterday with the parliamentary committees to solve the problem of the budget, pointing to the existence of a deficit of (15) trillion dinars in the budget.
He added, we can plug (10) trillion of Petroleum Exporting Countries Fund for Iraq and (1) trillion of central bank and left (4) trillion, indicating that the remainder of the deficit is not large and does not affect the budget.
He explained: that the social benefits for the three presidencies can be converted and utilized to provide the ration card items and to compensate victims of terrorism and solve the problems of property claims.
He pointed out: that the final accounts for the five years ago, free of corruption and grouped in two directions through the first advances are estimated in the Office of Financial Supervision and the door of the second through the laws prescribed by the House of Representatives and spent, such as increasing the salaries of the security services.
He expected the al-Issawi: Adoption of the budget tomorrow.
For his part, Minister of Planning Ali Shukri: the budget and reached the (117) trillion dinars, which is very large, indicating that the deficit, which he obtained was the result of converting amounts of such projects is to other projects and not for the budget, causing the existence of the problem of the deficit. / Finished / 4. d. Q /

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World Bank: fiscal surplus of Iraq in 2011 with a $ 20 billion

22/02/2012 15:11

Baghdad, February 22 (Rn) - The World Bank said on Wednesday that the value of the surplus in the fiscal budget for Iraq for 2011 past $ 20 billion, warned at the same time of the introduction of payment on credit.

Iraqi cities and need money desperately to build its infrastructure destroyed by years of war, sanctions and violence, and protesting citizens on an ongoing basis on the lack of basic services that have not been able to successive Iraqi governments have made available, despite a lapse of almost nine years to overthrow the former regime.

But the violence and corruption deprived Iraq of investments during the years of conflict that followed the fall of the former regime in the spring of 2003, while moving slowly rebuilding process.

The expert at the World Bank Majid picture, told the Kurdish news agency (Rn) that "the value of fiscal surplus to the budget in 2011 amounted to $ 20 billion, one of the budgets of the provinces that did not happen by 85%."

He added that "the Iraqi government has to take advantage of fiscal surpluses since 2004 to 2011, which amounts to about $ 80 billion."

He pointed to the picture that "the payment system on credit is not successful and the government not to work on it because it hinders projects of investment and economic development in the country and increase the debt of Iraq."

The Central Bank of Iraq said on Wednesday that the government encourages the introduction of payment on credit, that he attributed to contributing to the promotion of international companies to enter the Iraqi market, stressing that monetary policy is not affected by the application of this method.

It is expected to pass the House of Representatives during the next few days the country's budget for the current year, which amount to 100 billion dollars (about 117 trillion Iraqi dinars) and a deficit of up to $ 13.5 billion (about 17 trillion dinars).

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Member of the Committee on Energy: Kuwait over the rights of Iraq's oil using horizontal drilling

Wednesday 02/22/2012

Baghdad (news) .. Warned a member of the Committee on Energy and MP for the oil / mass change / Bayazid Hassan Kuwait over the rights of Iraq's oil through the use of horizontal drilling on its oil fields near the Iraqi border.
Hassan said (to the Agency news) on Wednesday: The use of the Kuwait modern technology known drilling horizontal to extract oil from fields near the Iraqi territory Saatheraly oil reserves in the fields of Basra and the offense must be viewed through diplomatic channels and dialogue between the two sides to resolve it.
He added that the Iraqi Oil Ministry was not aware that there is a case of stealing oil from the Kuwaiti side, calling on the Ministry of Oil to the need to verify the authenticity of the news by the Kuwaiti side and knowledge of its consequences, and causes of being a threat to the Iraqi economy, the danger and the formation of a committee to follow up the matter.
In the same context, a source from the Federal Ministry of Oil in a statement (the news) for the theft of Iraqi oil by the two neighbors, Iran and Kuwait Bastkhaddamanma drilling technology horizontal to the fields near the Iraqi territory, which led to the withdrawal of Iraqi oil fields. / Finished / 8. D. Q /

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UN: We are ready to work for the promotion of democracy in Iraq

22/02/2012 15:08

Erbil, February 22 (Rn) - The Regional Director for the United Nations Program for Development (UNDP), Wednesday, on the role of the House of Representatives in the transition taking place in Iraq, noting that the United Nations stands ready to work for the promotion of democracy in Iraq.

A statement by the Iraqi Council of Representatives received the agency Kurdistan News (Rn) a copy of "The House of Representatives Speaker Osama Najafi research, at his office in Baghdad, with Regional Director of the United Nations Program for Development Development Peter Bagelr the current situation on the political scene in Iraq and ways to develop relations with affiliates United Nations. "

The statement quoted Najafi as saying that "the Iraqi Council of Representatives seeks to consolidate the foundations of democratic action, and this needs the cooperation and expertise of international organizations, led by the United Nations", also praised Najafi, "the role of UN role in the development of the ability of parliamentary and provide advice and counseling, and interest in the field of human rights." .

The statement added that "Najafi said during the meeting that" the House of Representatives and a key influential role in the process of building the state institutions and the completion of the constitutional process and the correction taking place in Iraq. "

In turn, Peter Bagelr that "the Iraqi Council of Representatives an important role in this transition, that the United Nations stand ready to work for the promotion of democracy in Iraq and develop the work of Parliament."

He Bagelr that "the work of the UN in Baghdad focused on strengthening administrative purposes in the House of Representatives as well as work with parliamentary committees," adding that "work is underway on the Memorandum of Cooperation between the UN and the Iraqi parliament, which is undergoing the final touches, to develop a framework for joint action and to prepare comprehensive strategy for cooperation. "

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CBI sales rise to $ 178 million

22/02/2012 14:36

Baghdad, February 22 (Rn) - The Central Bank of Iraq, Wednesday, rising sales of the dollar to U.S. $ 178 million after it was yesterday $ 120 million.

The deputy governor of the Central Bank of the appearance of Mohammed Saleh told the Kurdish news agency (Rn) that "the central bank sales on Wednesday amounted to $ 178 million."

Saleh added that "the owners of banking offices adapt to the new mechanisms established by the Central Bank of Iraq in the sale process difficult to prevent smuggled out of the country because of crises in the countries in the region."

The rate of sale of the Central Bank in January 11 last to $ 300 million for the first time in years, put on the impact of a new mechanism requiring the withdrawal of foreign currency on the basis of the importance of development projects in the country, especially after the news emerged, in recent times, for the smuggling of large of hard currency to Iran, facing international sanctions.

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