Arab League Secretary and the Minister of Foreign Affairs of Kuwait to Iraq to praise the level of outstanding preparation for the summit

11 March, 2012

Commended the Secretary-General of the Arab League, Arab, Nabil outstanding level of preparations made ​​by the Iraqi government on Baghdad to host the Arab summit to be held the 23 for the period from 27 to 29 March.

Nabil and praised in the Arab press conference on the effort of all the technical and administrative, organizational and media to prepare well for the Arab summit. He said the Arab events following the conclusion of the regular session (137) to the Arab League Council at the ministerial level, That the level of leaders and attend the Arab presidents and kings of the Conference of the Arab summit will be at the highest levels of the importance of this spring after the Arab summit witnessed in the Arab arena in some of its states, noting that every state has the right to set the level represented at the summit.

In addition, Deputy Prime Minister of Kuwait Foreign Minister Sheikh Sabah Khaled Al-Sabah that Kuwait and other Arab countries have received official invitations from Iraqi President Jalal Talabani, and everyone expressed their willingness to attend.

He Sheikh Sabah Khaled Al-Sabah expressed hope that the summit a success in the hospitality brothers Iraqis who prepared them fully prepared. At about the visit of Prime Minister Nuri al-Maliki's expected visit to Kuwait, said Minister Alkharigh Kuwait, said the visit would be interested in the closure of all outstanding issues between Iraq and Kuwait, noting that There are historical and social relations between the two sides and that the large differences in the way of solutions.

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Iraq: Preparatory Committee meeting for the national meet tomorrow to discuss the agenda

11/03/2012


Arbil, March 11 (Rn) - The preparatory committee for the national meeting Sunday it will meet on Monday to discuss the agenda of the upcoming meeting.

The country has a political crisis in the wake of the issuance of an arrest warrant for Vice President Tariq al-Hashemi and demand that Prime Minister Nuri al-Maliki to the House of Representatives dismissed his deputy, Saleh al-Mutlaq for the job.

Hashemi and faces charges of driving death squads are based on the confessions of a television to say that they are men of his bodyguards.

Hashemi denies the accusations and says it is fabricated. While the request was to isolate al-Mutlaq, on the basis that he lacks the competence and confidence in the office.

And seeks Iraqi President Jalal Talabani - who is currently in the United States for treatment - to reunite the political parties at the same table in the Conference had been called to be held earlier.

A member of the Preparatory Committee for the national meet Bahaa al-Araji, said in a statement issued by his press office said that "the political blocs meeting today discussed several issues the most important meeting of the national meeting on Monday at the home of Vice President of the Republic Khodair al."

Iraqi politicians are trying to resolving their differences out a unified position before the Arab Summit to be held in Baghdad at the end of this month.

He said al-Araji, head of the Sadrist bloc in the House of Representatives that the political forces also discussed the law of the Federal Court and the law of the Supreme Judicial Council and the House of Representatives holiday.

The Preparatory Committee held four previous meetings have been able to agree on a track leading to the main differences, but failed to agree on mechanisms.

It demands the presence of the coalition in Iraq Kurdistan Region President Massoud Barzani, leader of the Sadrist movement and Muqtada al-Sadr as a condition for participation in the conference.

Barzani did not rule out participating in the event was "good preparation" of the conference, but said in a television interview recently that he does not need to as long as his presence is no trust.

And rejects a coalition of state law, led by Prime Minister Nuri al-Maliki to discuss the issues of al-Mutlaq al-Hashemi, the Iraqi National Congress, but insists on it.

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Experts acknowledge the inability of Iraq to meet the demands of the International Monetary Fund

11/03/2012 10:48

Baghdad, March 11 / March (Rn) - The number of experts in the field of economy and development, that the Iraqi government did not comply with the instructions of the International Monetary Fund for the development of its banks and its financial transactions as required, acknowledging the inability of Iraq to meet the demands of the Fund.

The economist said Ali Ke Ji told the Kurdish news agency (Rn) that "the Iraqi government has not implemented mechanisms to the International Monetary Fund to develop its dealings Banking and Finance as required in exchange for a loan of U.S. $ 3 billion," pointing out that "banking transactions require to make way for electronic trading and the development of e-banking to withdraw money after all transactions and the expansion of private banks with government institutions. "

He added that Ke Ji "Government Central Bank of Iraq is still limited to preserve the value of the dinar from the national development without real political cash balance in the country so that the fiscal policy pursued by the government, particularly with regard to the implementation file of the budget year."

The Iraqi Council of Ministers had approved yesterday the first to file the budget in 2012 despite the objections made by the Council of the file and took refuge on the track to the Federal Court.

The Ministry of Planning and Development Cooperation of Iraq has announced the postponement of the launch of the budget in 2012 to until the end of the outstanding problems upon between the Council of Ministers and House of Representatives, at the time had announced the ministry that the budget in 2012 will be discussed in the cabinet of the new reduced payment on credit of $ 27 billion to $ 18 billion.

Article 62 of the Iraqi Constitution, "The Cabinet presents the general budget bill and the final account to the House of Representatives for approval," while the second paragraph of the same article that "the Council of Representatives may conduct transfers between the sections and chapters of the general budget and reduce the total amounts, and the proposal to increase Total amount of expenditures to the Council of Ministers if necessary. "

In turn, the former Director General of the National Bank of Mercy Hnaoh Abbas's (Rn) that "the International Monetary Fund request from the Iraqi government to reduce the budget deficit unless they meet in the last budget in 2012."

Hnaoh explained that "the Iraqi government needs to international financial loans for the purpose of coping with the requirements of international economic development and the need for the global market to the banking and financial dealings high-resolution level."

He said, "banking Iraq is still a primary or balanced with the aspirations of the country and plans drawn up by the development of the internal structural of these banks in both its public and private sectors," noting that "the deficit in the current year budget is can be treated by relying on oil prices remain above $ 100" .

For his part, the national central bank that "Iraq did not distract from the International Monetary Fund loan has a $ 3 billion only two billion dollars for backup".

The deputy governor of Central Bank of Iraq Mzarmohamd Saleh (Rn) that "the Iraqi government were not needed to borrow from the IMF only for the purposes of credit and back-up for fear of the financial crisis," adding that "the interest of Iraq to take advantage of the experience of the Fund in its dealings banking the next phase. "

He added by saying that "Iraq agreed with the Fund during the meetings ended yesterday in the Jordanian capital of Amman to start the implementation of high-level plan for the development of the financial dealings of private banks and government."

And completed the International Monetary Fund last week's second review of the progress achieved by Iraq under the program supported by the loan, and the condition of the need to fund Iraq's semi-drastic changes in the tax system as a basis for granting loans and to support its projects.

Iraq had decided since the beginning of 2006 to restructure State-owned banks have, as the government continues to rely on its financial transactions on the government banks by 85%.

And the International Monetary Fund expressed recently his support of the Iraqi economy in the event of his a number of economic measures, including raising three zeros from the local currency.

The Iraqi Council of Representatives has approved during its meeting held on February 23 on the 2012 budget, which amounted to 117 trillion Iraqi dinars, equivalent to about 100 billion U.S. dollars.

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Iraq: about 12 heads of state will participate in the upcoming summit Baghdad end of the month

11/03/2012

Baghdad, March 11 (Rn) - The Iraqi Ministry of Foreign Affairs of the Federal, Sunday, that the heads of some 12 Arab countries will participate in the meeting of the Arab summit, noting that all States were invited to the summit confirmed the presence of and does not have apologized for the audience.

U.S. Undersecretary of Foreign Ministry, however, Abawi told the Kurdish news agency (Rn) that "all Arab countries to participate told us there will be no absence of any country," adding that "all States that have sent her invitations will attend."

Abawi said that "preliminary information indicates that most countries Stthml by the presidents and leaders of these countries and the number is now more than 12 countries and may be increased in the coming days, including the Gulf states."

He added that "the Emir of Kuwait, an official told us with his presence to the top of Baghdad."

And the total amounts spent on the summit Abawi said that "the amount allocated to us more than 500 billion dinars, and we are working rim of the amount allocated and there is no additional claims."

It is scheduled to hold the Arab summit in the Iraqi capital Baghdad on the 29th of March is scheduled to be preceded by two days a meeting of Arab ministers of economy and one day meeting of Arab foreign ministers.

The Arab summit held amid continuing tension conditions in the Arab region and the varying positions of States thereon, and the preoccupation of several Arab countries, their situation of the Interior, as it is the first summit after the events of the so-called Arab spring.

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Parliament is a supreme committee with the central bank to start deleting the zeros

11 March, 2012

Formed the Economic Committee in the House of Representatives with the Central Bank of Iraq to a joint committee to begin the process of deleting the zeros of the local currency.

The MP said Abdul Hussein Abtan The process of removing zeros from the local currency will start next September, adding that the Committee will work to provide the needs of technical, legal, administrative and paint the nature of the Iraqi market and its relevance to the deletion of the currency during the stage preceding the start delete currency as well as increase public awareness about the details of the process of deleting the zeros of the coin .. Abtan also pointed out that the central bank promised that he could make a change of currency and delete zeros in order to reduce inflation in the country.

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Parliament calls for the economy of the Iraqi Central Bank to pay the dues of the creditors of Warka

11/03/2012

Baghdad, March 11 (Rn) - Commission asked for the economy and investment representative, Sunday, the Iraqi Central Bank to pay all the money of citizens who deposited in the Warka Bank of Iraq Investment and Finance, who suffered a financial crisis, saying that many of the citizens' complaints against the Warka Bank came to the Commission.

The Iraqi central bank decided last week to develop and guardianship to the Warka Bank, one of the largest Iraqi banks because of the deterioration of fiscal policy. The bank said that the imposition of guardianship and the Warka Bank came to save him.

The main tasks of the Central Bank in managing monetary policy in the country, and raise the value of Iraqi dinar and tackle inflation.

A member of the Committee Mahma Khalil told the Kurdish news agency (Rn), "The government and Central Bank of Iraq take responsibility for payment of all dues citizens financial implications of the Warka Bank Ahli after suffering a financial crisis," noting that "a lot of people lost their Bank of Warka."

He explained that "many citizens' complaints against the Warka Bank came to the Commission after their financial loss, because of the mistaken policy of the bank."

He continued that "the Iraqi environment in the area of ​​banking business is one of the lush environments in the region through the profits they get from the citizens." He said.

And sought the Warka Bank, according to economic reports to come out of his financial entry through the Bembagesat with the British bank Standard Chartered to sell a share of the shares, but the talks have reached a dead end.

The decision to place custody of the Warka Bank in the Central time enter the new mechanism requiring the withdrawal of foreign currency on the basis of the importance of development projects in the country, after news spread of the breadth of the phenomenon of smuggling hard currency, especially to Iran, facing international sanctions.

Revealed the parliamentary finance committee yesterday adopted a resolution calling the Iraqi Central Bank Governor Sinan Shabibi to discuss the financial crisis that hit the Warka Bank and the National mechanism to bring him back on track.

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