Iraq's Central Bank Governor: During the coming period to cancel the zeros of the Iraqi currency

28/02/2012 06:56 PM

Baghdad:
Detect Iraqi Central Bank Governor of the Bank during the coming period to cancel the zeros of the Iraqi currency in order to absorb the inflation of the Iraqi market as well as reducing the size of the Iraqi currency currently in circulation is an existing project will see the light in the coming days after the completion of it, pointing out that there is an integrated study on the matter and in the final stages of discussions, the decision was taken and must be submitted to the relevant authorities for the purpose of legislation by the House of Representatives and the Council of Ministers.

Dr. Shabibi in an exclusive interview with (the people) shall be published later that the removal of zeros from the Iraqi currency at the moment was inevitable and will contribute to facilitate the work of the government and Atathirat real current economic situation, stressing that it will be canceled three zeros from the current currency will be printed six to seven categories of a new Iraqi cash.
Shabibi said that the central bank supervision and the role of Sergeant on the performance of all government and private banks and is also evaluating its performance on a regular basis which improves the performance of the banking system.
And his view of the federal budget, which passed last week Shabibi noted that it's budget ambition and budget execution properly is the one who will create some sort of supply and which will therefore reduce the rate of inflation happening in the country and not to influence the economic stability and needs to be an act of solidarity significant of all.

And the size of the money presented by the Central Bank in the Iraqi market, said the governor that he was more than 150 dollars Mellon on a daily basis and are purchased by the government and private banks and is subject to constant monitoring and supervision by the Central Bank of Iraq.

On the other hand denied Shabibi the existence of any negative economic impact on the spread of counterfeit currency in the local market in Iraq, noting that the issue of counterfeiting, was given a size bigger than true to size, explaining that the process of fraud are almost non-existent in the market and there was a fraud he is by people specific and does not affect the money supply in the domestic market in any way and that the bank has the financial capacity of the enormous and that through which it can influence a course of the domestic market, saying "We are preparing the largest player in the domestic market and control the course of events in economic terms, and I confirm that the currency issue false statements to the media is just to change my actual facts and not on the ground and have no real impact on real perspective.

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Shaways reveals a new strategy to revive the Iraqi economy

01 March, 2012

Deputy Prime Minister Ruz Nuri Shaways a new strategy to revive the Iraqi economy.

Shaways said during a conference on Iraq in the Indian capital New Delhi that "after the change experienced by Iraq and subsequent new directions in economic, social, political and cultural, has been the trend towards a radical reconsideration of the economic policy followed in the country."

He Shaways said in a statement that the most important trends the new strategy is "to restructure the economy and liberalization of the economy from the grip of the central state and the creation of a genuine partnership between the public and private sectors and reform of state-owned enterprises and to encourage local and foreign investment and the trend towards the reform of financial and administrative comprehensive and integrated global economy."

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Member of Finance Committee: Add (40) A degree of functional balance and will be launched next July, a month after

Thursday, 03/01/2012

Baghdad (news) .. Announced by the Finance Committee MP / Kurdistan Alliance / Najiba Najib from the addition of (40) thousand degrees and careers in the budget law and will be launched next July, a month later after obtaining the financial abundance of oil revenues achieved.
The answer (of the Agency news) said on Thursday that the number of grades that are installed in the budget bill amounted to (58) A degree and functional and will be launched in the coming period after the announcement of it under the terms of the specific controls and priorities installation contracts in the government departments to the permanent staffing taking into account the population of each province and the needs of degrees of functional according to a specific timetable.
She added, was the development of a paragraph in the budget to add (40) thousand degrees and other functional be subject to increased oil revenues realized during the first six months of this year and will be launched after the month of July so it will be the launch of grades this year, two stages and the time period is close between them.
She pointed out is that these functional allocations will be subject to the same standards and requirements for the degree of functional installed in the general budget bill and the amount of (58) A degree and functional. / Finished / 8. D. Q /

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Iraq: Iraq out of Chapter VII will contribute to the development of relations of Iraq and Kuwait

01 March, 2012



Advisor to the Iraqi List, said Hani Ashour said the list to consider carefully the visit of Prime Minister Nuri al-Maliki expected to Kuwait and hopes to contribute to the flourishing relations to remove Iraq from Chapter VII and the resolution of all differences between the two subjects.

Ashour said in a press release received Fayhaa copy of which was that relations between Iraq and Kuwait was characterized by post-2003 development, understanding and hope to rise to high levels to ensure the future of the two peoples and to forget the past and not to the Iraqi people the mistakes of the former regime, explaining that the withdrawal of Iraq from Chapter VII will contribute to ensuring relationships that benefit the two peoples of Iraq and Kuwait.

Ashour and through his list of wishes that are Maliki's visit to Kuwait the key to a new relationship to the prospects of a more sophisticated and resolution of any differences that exist between the two countries so as to enhance the joint Arab action that you see the Iraqi List, the most important features of the future of the industry practice of the new Iraq and Arab cultural role.

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Najafi visit Kuwait soon to participate in the Union of Arab Parliaments

01 March, 2012

Leave the House of Representatives Speaker Osama al-Baghdad, on Sunday, heading to Kuwait on an official visit at the head of a parliamentary delegation high.
The visit comes according to a statement to the House of Representatives to participate in the activities of the eighteenth meeting of the Conference of the Arab Parliamentary Union to be held in Kuwait with the participation of heads of parliaments of the 18 Arab countries.

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Minister of Finance to discuss with managers of private banks and private companies the most prominent obstacles

Thursday, 01 March / March 2012

Research and Finance Minister Rafie al-Issawi in the presence of MP Ahmed Chalabi with the directors of private banks and private companies the main obstacles facing them.

A statement by the Ministry of Finance, the Agency has received all of Iraq [where] a copy of it on Thursday that "al-Issawi said its full support for the various areas of the private sector and especially the banking sector, pointing to the role of the banking sector in building the Iraqi economy and promote investment opportunities in the country."

He added that "al-Issawi agreed with those present on the audit work of private banks and companies by international companies to develop a reliable work of these banks and increase their effectiveness." Ended

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Office of International Trade: lines should be expanded to raise oil export capacity

Thursday, 03/01/2012

Basra (news) .. Adviser called the Office of International Trade and Transport in Basra inhibitor reconcile the need to expand production lines stretching across the northern and southern pipe and the search for alternatives to transport crude oil pipeline is to increase the export capacity of Iraqi oil.
The inhibitor (the Agency news) on Thursday: it is necessary to pay greater attention to transport and storage of crude oil, the fact that the Iraqi economy is supported entirely on its revenue is through the expansion of lines export pipeline oil stretching across Turkey's Ceyhan, and pipe the other stretching across the Persian Gulf in addition to the open ports other export.
He added: Iraq must be looking for alternatives pipelines to transport oil to avoid the occurrence of abnormal conditions in the region, which affect its oil exports through the move by the Iraqi Oil Ministry to Lebanon to activate the subject of the ports of Banias and Tartous to transport oil through them.
He said: that the issue of transport and storage of crude oil line in parallel with extracting oil in the sense that any oil well when the stop of production can move to the well one, but transport via pipeline if it stops does not have another solution for transport, causing major problems in the case of any emergency. / End / 8. d. Q /

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