Iraq and Iran discuss trade and economic cooperation
[Where - Follow - up] A
delegation of three Iraqi provinces with Iranian officials in Ilam Province cooperation in trade and economic spheres.
The head of the Commerce, Industry and Mines and the Chamber of Agriculture province of Ilam Shaaban Vrun in a press statement that the Iraqi delegation is composed of 16 economists and heads of chambers of commerce neighboring Eelam Iraqi provinces of Maysan and Wasit and Diyala. Iraq and Iran discuss trade and economic cooperation
[Where - Follow - up] A
delegation of three Iraqi provinces with Iranian officials in Ilam Province cooperation in trade and economic spheres.
The head of the Commerce, Industry and Mines and the Chamber of Agriculture province of Ilam Shaaban Vrun in a press statement that the Iraqi delegation is composed of 16 economists and heads of chambers of commerce neighboring Eelam Iraqi provinces of Maysan and Wasit and Diyala. Iraq and Iran discuss trade and economic cooperation
delegation of three Iraqi provinces with Iranian officials in Ilam Province cooperation in trade and economic spheres.
The head of the Commerce, Industry and Mines and the Chamber of Agriculture province of Ilam Shaaban Vrun in a press statement that the Iraqi delegation is composed of 16 economists and heads of chambers of commerce neighboring Eelam Iraqi provinces of Maysan and Wasit and Diyala.
He Vrun that the visit of the Iraqi trade delegation to the Tigers for two days and come meet the invitation of the Chamber of Commerce to maintain aims to study the possibilities available and commonalities and ways to expand trade and economic cooperation between the two parties.
the participating Iraqi delegation at a special meeting to study ways of cooperation between the Tigers and the Iraqi border provinces would meet later to members of the Chamber of Commerce Baillam the delegation will meet Managers executives and producers and traders in the province is due to the delegation at a later time to inspect the industrial cities in the province.
It should be noted that Ilam province in western Iran , located and has a 430 kilometer common border with Iraq.
http://www.alliraqnews.com/modules/news/article.php?storyid=39196
Araca- Jordanian economic conference next Monday with the imminent reopening of the Trebil border crossing
History of edits:: 28/05/2016 14:56
Araca- Jordanian economic conference next Monday with the imminent reopening of the Trebil border crossing
[Oan- up]
held on Monday, an economic conference in the Jordanian capital Amman to discuss economic cooperation between Iraq and Jordan.
Conference is titled [Jordan and Iraq conference .. prospects for the future, in conjunction with the opening near the Trebil border crossing between the two countries, which Iraq declared full upon his control, and is expected to open very soon, following the liberation of the humid city and the expulsion of the terrorist Daash gangs a few days ago.
Discusses the participants in the conference three major themes, namely investment Iraqi joint venture of Jordan, and trade and industry and future prospects, and the obstacles investment and intra - OIC trade.
the head of the Iraqi Business Council in Jordan Majid Saadi Al - Ghad Jordanian, " the conference is a real opportunity to discuss the prospects of joint economic cooperation in the next stage after opening the border and get rid of the terror gang Daash. "
He stressed Saadi to Jordan, an important economic partner for his country, and port chairman of imports and reconstruction of Iraq.
economists estimate, the cost of the two losses due to the closure Trebil border crossing with hundreds of millions of dollars and Aomla compensation opening.
http://www.alliraqnews.com/modules/news/article.php?storyid=39108
Baghdad is investing $ 1.5 billion in overseas
29-05-2016 08:56 PM
As president of «Iraqi Fund for External Development» Hussein Jabbar, the funds administered by UNFPA in the Arab and foreign more than $ 1.5 billion countries, revealed the existence of local authorities seeking to end the work of the Fund even though he is the only foreign experience that Iraq's desire to make it a success in the four decades years.
Jabbar's «life» that «Fund was established with the aim external development lending, and the idea was that the oil surpluses go to the Fund invests simple benefits to the long-term (25 years maximum) end and a grace period of between five and seven years before the first payment».
He added that «the first loan was given in 1974, and another in 1982 loan, while the fund's capital of 200 million dinars at the time ($ 700 million), has increased through the Ministry of Finance contributions in five other international funds, turned to the Iraqi fund was estimated about $ 750 million in 1984. »
Fund tasks
He continued: «an amendment to the Fund's decision added to his duties follow Iraqi investments abroad, which is only the Iraqi government represented by the Ministry of money, contribute to the agricultural and industrial companies in many Arab and foreign countries». He explained that «contribute driven Treasury yield back to the Treasury directly. This process is entrusted to the State Development Fund and lasted until 1997, when it issued a new amendment to the fund's capital increased by about $ 750 million».
He pointed out that «the fund's assets are estimated at $ 1.5 billion, and these numbers have not unite because of the fund's capital to install, so we seek to re-valuation of assets, and we have only revenue comes from foreign our contributions.»
It is the fund tasks of public policies to invest money mode, and decision-making to contribute to the development projects and programs, and approve the terms of the loans, and determine what borrow for its own account, and follow-up of the multilateral and bilateral Iraq's finance and foreign relations and everything related to the management of his contributions to the organizations, funds and bodies, international, regional and Arab joint ventures.
Jabbar explained that «the fund's capital is still distracted and we are going to be confined, and the annual profit rate of between 18 and 20 million dollars, while the cost of the fund with a staff exceeding $ 1.8 million». He added: «emerged as a problem after 2003, was the closure of all internal and external accounts of the Fund, as you go revenues sometimes to the Ministry of Finance account, sometimes to the expense of Development Fund for Iraq called (de FIA), and remained revenues accumulate in the Ministry of Finance account to be exceeded $ 200 million. » He disclosed that «since 2003, paid the fund staff salaries in the form of grants from the Ministry of Finance, and in 2014 opened a new account of the Fund began to add to revenues and reached about $ 50 million deposited in the Iraqi bank for trade, and this liquidity can be invested.»
And the need to amend the Fund Law, Jabbar said: «study the paragraphs that need to be modified in the law, and there are companies that used to belong to MIC shifted ownership to fund». And on ways of managing these contributions, he said: «continuous follow-up companies and we have a representative from each company represented Iraq by sector, whether agricultural or industrial, oil».
Suggestions
Furthermore, the Inspector General of the Ministry of Finance Maher Hussein al-Bayati said in a statement to «life», that «there arises the idea of the fund solution and reassign one of the Finance Ministry circles, considering that Iraq had no large investments».
He added that «Fund under the Ministry of money a circle and not a company, but Iraq after 2003 did not contribute to investments abroad, is there a point in the survival of this department, any fund, a person is headed by a private degree the Board of Directors and there is to this fund, and in the light of the final accounts conducted in 2015, it describes the size of the profits. »
And saw the head of investments in the fund Brin Abdel-Salam said in an interview with the «life» that «foreign investments restricted, according to the state where we contribute, there are investments Kuwaiti dinar and the dollar and the dinar Jordanian pound Sudanese, and when we calculate revenue converted into dollars and then into the Iraqi dinar, and Iraq's share of these companies according to Co-out rate starting from 0.5 percent and up to 50 percent, and must distinguish what is winning or losing or ailing companies ».
http://www.almadarnews.info/index.php?page=article&id=11613
Field accounts and harvest threshing floor
5/30/2016 0:00
Mohammed Sharif Abu Mayssam
in April 2015 passed the Committee on Economic Affairs in the Council of Ministers of deposit money banks , part of the Rafidain and Rasheed , and the Iraqi trade among private banks. On the grounds that the money supply frozen in the cabinets of both banks can be invested to contribute to the recovery of the market and taking them out of the recession if it has been recycled in a positive way .
It can also have private banks transferred to the banking business in which the rise of credit rates and contributes to real development climates where the money spin without industry developed stop for activating the real sectors and other chock them.
However, this has not materialized despite more than a year for several reasons, in the fore front, the unwillingness of private banks to go into credit risk to raise rates , which barely remember a lot of private banks that rely since its inception to buy and sell the dollar at the central bank auction and the proportion of nocturnal investment interest in achieving profits.
It is therefore not prepared to fulfill their obligations under about those deposits that will mean paying more money to pay the benefits of those deposits, and at the same time ,feel free to departments of government banks in raising Aadaatha rates private banks for non - economic feasibility can not be that the interest rate of up to private banks cabinets on these deposits for more than approved in night investment interest rates despite a decline in value in the years
past.
not to mention the risk of such deposits with the delay in the birth of the deposit Insurance Act It is still in the House of Representatives to include, as well as what is known about the government banking work that prevails his performance bureaucratic patterns and methods of patronage and clientelism and subsist on vocabulary parasites corruption, which means that the entry of government banks in such a pattern of transactions will not be the beneficial at the time , which may result in the creation Additional responsibilities are indispensable, along with the lack of trust between the parties based on the government 's banking sector administration and between departments (private banking boutiques.)
many of the problems experienced by the Iraqi economy at the current stage we can find her theoretical solutions with ease, however, go into in applications makes this a very difficult solution details and often ends enforcement mechanisms to neglect and extinction, and this explains the large number of issuing decisions in our country without moving the wheel of life, which explains the large number of theories without access to the paths of realistic solutions.
how many times have recommended to the economic Committee in the Council of Ministers to intensify efforts by private banks on educating citizens to deposit their money in banks rather than keep them inside the house, and the strengthening of trust between the citizen and the banks, and how much has urged in its private banks to create partnerships with international banks for the purpose of enhancing its developmental role in the economic arena and create investment opportunities and thus run the workforce unemployed.
from this point of view , the government optimistic about finding solutions and outs of financial and economic crisis plaguing the country and we are at war with terrorism Advisory The vision emphasizes that solutions are available according to the financial and economic data that indicate a gradual transition towards a market economy and to entrust the task of file management economic private sector in conjunction with the compression of public expenditures and attempts to increase non - oil revenue policy.
but the reality collides with numerous obstacles that stand in the forefront of which the problem of the lack of a real private sector is aware of his duties and rights, as well as human resources patting bureaucracy and utilitarian patterns in the social and cultural contexts REO lot of imbalances that contribute to obstruct the wheel of life rotation.
in this context , the idea of launching 5 trillion dinars for the specialized banks by the central bank since November 2015, and was optimism at its most intense, as it was necessary to accelerate the launch of these loans electronically to contribute to the move the trades and transactions in the local Alosouk, and ensure access these loans to their goals, and we welcome June and human energies that entrusted her to grant these loans file a spin in a closed spiral, we are able to manage this file electronically and are courageous enough to recognize the inability and step aside to leave the matter of human energies
again.
as attempts are being made to convince the authorities of existing loans from the futility of granting these loans electronically and persuade it to release of loans to manually enable the parasites and users and opportunists from the domination of these loans and denying workers the real ones sectors.
then go valid optimism in the project of the Central Bank loan banks specialized gone unheeded , as the optimism in the idea of deposit money banks , Rafidain and Rasheed , and the Iraqi trade among private banks.
http://www.alsabaah.iq/ArticleShow.aspx?ID=117194
Economic resources management efficiency substitute for borrowing
5/30/2016 0:00
Baghdad -imad emirate
said the academic from the Faculty of Administration and Economy in Qadisiyah Abdul Karim University Jaber Hnjar: to exploit the diversity of financial resources and good in any country in the world would the administration that is the country from the global financial institutions , which are often conditional on measures loans may disproportion sons that country. He Hnjar «morning», contributed to Africa, for example, in the advancement of the industrialized world since the late fifteenth century when he entered with Europe in a joint commercial exchange where this led to the exodus of wealth, especially gold from the first to the second, and in our time is still the continent brown face significant challenges.
He said to try officials work to improve economic and social conditions, and therefore headed to the world markets in search of financial and technological resources and capabilities, but it seems that the outcome of such attempts do not come to fruition, as it is still 45 percent of the population of the continent's 700 million people live on less than a US dollar a day, as there are 24 African countries among the 32 countries at the lowest ladder of human development. He Hnjar, figures indicate that foreign trade in food commodities (oil, cocoa, coffee and sugar) recorded a surplus of $ 31 billion in 1980 , dropped to third in 1995, and recorded in the same year a deficit of two billion dollars, and this of course if Maslmna specialization historic this continent in the export of materials, how the case is under the force of the WTO agreements?
He pointed out that trade in industrial goods , then surely that the deficit continues, notes from the figures that the main partner is the industrialized countries, whether to discharge its core product or a source for advanced goods technology or grain as food for their people.
He Hnjar: that African countries, as do developing countries, borrowed from the international financial market to finance the development of its requirements, has obtained loans from official and commercial private sources.
Hnjar reported that schedules debt figures only show African long - term debt and agreed it as easy debt and assume conditions lending soft notes mounting debt after that was approximately $ 140 billion in 1975 jumped to $ 157 billion in 1998 In contrast escalated debt service as well, and demonstrates the continuity of dependence on foreign loans after the decline in official development assistance size and the deterioration of the terms of their terms of trade.
he concluded Hnjar saying: refers debt figures first long - term debt ratio to gross national product, and shows this indicator escalating proportion Maigttah lenders of GDP, since any economic activity must be reflected in the evolution of GNP, this development requires more investments that exceed the available local resources, this means looking for a large part of financial resources through external loans, the escalation of this ratio observed continuously even recorded 99 percent of the gross national product goes to creditors and this Mascl in 1999, the second trend is ratio of debt service to exports of goods and services.
http://www.alsabaah.iq/ArticleShow.aspx?ID=117195
Hafiz: Required sound management to overcome the financial crisis
5/30/2016 0:00
BAGHDAD Shokran Fatlawi
discussed economic seminar organized by the progress of policy development institute on the IMF loan to Iraq, and to clarify misunderstandings among different circles about it details, it came during a seminar organized by the progress of the Development Policy Institute in the presence of a financial advisor to the prime minister and a group of finance and economy experts. And initiated the seminar titled « The role of foreign loans in resolving the financial crisis» and attended the »morning» word to the director of the institute , Dr. Mehdi al - Hafez said through which the country faces a financial are conditions described Balassabp, pointing to the need for sound management of real and review the political, financial management, pointing out that the country in its current state it needs to make the right decisions based on sound management, according to the standards of corporate governance.
International loan details
For his part , Economic Adviser to the Prime Minister Dr. occur. The appearance of Mohammed Saleh international loan details , saying that the relationship began with the World Bank and the International Monetary Fund in 2004 , and that Iraq is a founding member of the bank 's international fund since 1944 , adding that that relationship foundered in 1977 after the former regime had decided not to provide the Fund 's statements on the economy Iraqi. He noted that the relations returned with the two organizations to normal after the fall of the regime in 2003, pointing out that these relations organized by the UN Security Council , which committed Iraq positively engages with the International Monetary Fund and the World Bank in order to reach the settlement of foreign debt through the agreement «Paris Club» , which is an order binding decision and is not an option for Iraq that the recent stability is part of the regional and international economic stability.
the «Paris Club» an informal group consisting of Mmoliyn finance officials from 20 countries of the largest economies in the world, offering financial services instead of declaring bankruptcy or debt relief cut interest it, and cancel the debt of highly indebted countries.
Saleh added «World Bank» request from Iraq to prepare detailed breakdown of the economic its potential and infinite money and funds available to the state institutions, as well as knowledge of dues Contractors details accompanying the performance of the Ministry of Finance and re bank restructuring Rafidain and Rasheed governance and the establishment of the company to guarantee deposits and ensuring social welfare and the ration card and displaced communities.
Net exchange real
He hinted that the IMF and World Bank deal size distress at more than $ 50 billion for the period from 2016 to 2019, after an evaluation process by the Fund and the World Bank , which completed the Iraq mission steps , including, explaining that access to international loan easily not taken but after taking a series of measures, including access by the Fund on the net real exchange for Iraq during the
year 2015. He noted that the fund after the follow - up to the exchange discovered Salaries exaggeration as well as inflation and other passages, prompting the Fund and the World Bank to demand from Iraq , including the oil price of $ 35 instead of 45 and the export of 3.6 million barrels per day, bringing the deficit to $ 11 billion , pointing out that he later deleted several paragraphs remaining $ 6 billion a year fund and the bank Internationals take care paid off.
he concluded in favor of clarifications on the loan, that the agreement Iraq is required to issue the law of financial management, as well as the introduction of the integrity Commission as an active player in the independent follow - up process and adopt a document of the United Nations anti - corruption, accompanied by an amendment of the Central Bank Act restricts the Ministry of Finance of new foundations and subdue external and internal debt in the country to scrutiny as the domestic public debt amounted to 37 trillion dinars. It should be noted that the IMF agreement with the federal government in the absence of any clause referring to allocate a portion of the Kurdistan region , where the provincial government took the initiative to subdue its oil exports to a foreign auditor for submission of the federal government , according to an economic advisor to the Prime Minister.
http://www.alsabaah.iq/ArticleShow.aspx?ID=117198
The head of the Commerce, Industry and Mines and the Chamber of Agriculture province of Ilam Shaaban Vrun in a press statement that the Iraqi delegation is composed of 16 economists and heads of chambers of commerce neighboring Eelam Iraqi provinces of Maysan and Wasit and Diyala.
He Vrun that the visit of the Iraqi trade delegation to the Tigers for two days and come meet the invitation of the Chamber of Commerce to maintain aims to study the possibilities available and commonalities and ways to expand trade and economic cooperation between the two parties.
the participating Iraqi delegation at a special meeting to study ways of cooperation between the Tigers and the Iraqi border provinces would meet later to members of the Chamber of Commerce Baillam the delegation will meet Managers executives and producers and traders in the province is due to the delegation at a later time to inspect the industrial cities in the province.
It should be noted that Ilam province in western Iran , located and has a 430 kilometer common border with Iraq.
http://www.alliraqnews.com/modules/news/article.php?storyid=39196
Araca- Jordanian economic conference next Monday with the imminent reopening of the Trebil border crossing
History of edits:: 28/05/2016 14:56
Araca- Jordanian economic conference next Monday with the imminent reopening of the Trebil border crossing
[Oan- up]
held on Monday, an economic conference in the Jordanian capital Amman to discuss economic cooperation between Iraq and Jordan.
Conference is titled [Jordan and Iraq conference .. prospects for the future, in conjunction with the opening near the Trebil border crossing between the two countries, which Iraq declared full upon his control, and is expected to open very soon, following the liberation of the humid city and the expulsion of the terrorist Daash gangs a few days ago.
Discusses the participants in the conference three major themes, namely investment Iraqi joint venture of Jordan, and trade and industry and future prospects, and the obstacles investment and intra - OIC trade.
the head of the Iraqi Business Council in Jordan Majid Saadi Al - Ghad Jordanian, " the conference is a real opportunity to discuss the prospects of joint economic cooperation in the next stage after opening the border and get rid of the terror gang Daash. "
He stressed Saadi to Jordan, an important economic partner for his country, and port chairman of imports and reconstruction of Iraq.
economists estimate, the cost of the two losses due to the closure Trebil border crossing with hundreds of millions of dollars and Aomla compensation opening.
http://www.alliraqnews.com/modules/news/article.php?storyid=39108
Baghdad is investing $ 1.5 billion in overseas
29-05-2016 08:56 PM
As president of «Iraqi Fund for External Development» Hussein Jabbar, the funds administered by UNFPA in the Arab and foreign more than $ 1.5 billion countries, revealed the existence of local authorities seeking to end the work of the Fund even though he is the only foreign experience that Iraq's desire to make it a success in the four decades years.
Jabbar's «life» that «Fund was established with the aim external development lending, and the idea was that the oil surpluses go to the Fund invests simple benefits to the long-term (25 years maximum) end and a grace period of between five and seven years before the first payment».
He added that «the first loan was given in 1974, and another in 1982 loan, while the fund's capital of 200 million dinars at the time ($ 700 million), has increased through the Ministry of Finance contributions in five other international funds, turned to the Iraqi fund was estimated about $ 750 million in 1984. »
Fund tasks
He continued: «an amendment to the Fund's decision added to his duties follow Iraqi investments abroad, which is only the Iraqi government represented by the Ministry of money, contribute to the agricultural and industrial companies in many Arab and foreign countries». He explained that «contribute driven Treasury yield back to the Treasury directly. This process is entrusted to the State Development Fund and lasted until 1997, when it issued a new amendment to the fund's capital increased by about $ 750 million».
He pointed out that «the fund's assets are estimated at $ 1.5 billion, and these numbers have not unite because of the fund's capital to install, so we seek to re-valuation of assets, and we have only revenue comes from foreign our contributions.»
It is the fund tasks of public policies to invest money mode, and decision-making to contribute to the development projects and programs, and approve the terms of the loans, and determine what borrow for its own account, and follow-up of the multilateral and bilateral Iraq's finance and foreign relations and everything related to the management of his contributions to the organizations, funds and bodies, international, regional and Arab joint ventures.
Jabbar explained that «the fund's capital is still distracted and we are going to be confined, and the annual profit rate of between 18 and 20 million dollars, while the cost of the fund with a staff exceeding $ 1.8 million». He added: «emerged as a problem after 2003, was the closure of all internal and external accounts of the Fund, as you go revenues sometimes to the Ministry of Finance account, sometimes to the expense of Development Fund for Iraq called (de FIA), and remained revenues accumulate in the Ministry of Finance account to be exceeded $ 200 million. » He disclosed that «since 2003, paid the fund staff salaries in the form of grants from the Ministry of Finance, and in 2014 opened a new account of the Fund began to add to revenues and reached about $ 50 million deposited in the Iraqi bank for trade, and this liquidity can be invested.»
And the need to amend the Fund Law, Jabbar said: «study the paragraphs that need to be modified in the law, and there are companies that used to belong to MIC shifted ownership to fund». And on ways of managing these contributions, he said: «continuous follow-up companies and we have a representative from each company represented Iraq by sector, whether agricultural or industrial, oil».
Suggestions
Furthermore, the Inspector General of the Ministry of Finance Maher Hussein al-Bayati said in a statement to «life», that «there arises the idea of the fund solution and reassign one of the Finance Ministry circles, considering that Iraq had no large investments».
He added that «Fund under the Ministry of money a circle and not a company, but Iraq after 2003 did not contribute to investments abroad, is there a point in the survival of this department, any fund, a person is headed by a private degree the Board of Directors and there is to this fund, and in the light of the final accounts conducted in 2015, it describes the size of the profits. »
And saw the head of investments in the fund Brin Abdel-Salam said in an interview with the «life» that «foreign investments restricted, according to the state where we contribute, there are investments Kuwaiti dinar and the dollar and the dinar Jordanian pound Sudanese, and when we calculate revenue converted into dollars and then into the Iraqi dinar, and Iraq's share of these companies according to Co-out rate starting from 0.5 percent and up to 50 percent, and must distinguish what is winning or losing or ailing companies ».
http://www.almadarnews.info/index.php?page=article&id=11613
Field accounts and harvest threshing floor
5/30/2016 0:00
Mohammed Sharif Abu Mayssam
in April 2015 passed the Committee on Economic Affairs in the Council of Ministers of deposit money banks , part of the Rafidain and Rasheed , and the Iraqi trade among private banks. On the grounds that the money supply frozen in the cabinets of both banks can be invested to contribute to the recovery of the market and taking them out of the recession if it has been recycled in a positive way .
It can also have private banks transferred to the banking business in which the rise of credit rates and contributes to real development climates where the money spin without industry developed stop for activating the real sectors and other chock them.
However, this has not materialized despite more than a year for several reasons, in the fore front, the unwillingness of private banks to go into credit risk to raise rates , which barely remember a lot of private banks that rely since its inception to buy and sell the dollar at the central bank auction and the proportion of nocturnal investment interest in achieving profits.
It is therefore not prepared to fulfill their obligations under about those deposits that will mean paying more money to pay the benefits of those deposits, and at the same time ,feel free to departments of government banks in raising Aadaatha rates private banks for non - economic feasibility can not be that the interest rate of up to private banks cabinets on these deposits for more than approved in night investment interest rates despite a decline in value in the years
past.
not to mention the risk of such deposits with the delay in the birth of the deposit Insurance Act It is still in the House of Representatives to include, as well as what is known about the government banking work that prevails his performance bureaucratic patterns and methods of patronage and clientelism and subsist on vocabulary parasites corruption, which means that the entry of government banks in such a pattern of transactions will not be the beneficial at the time , which may result in the creation Additional responsibilities are indispensable, along with the lack of trust between the parties based on the government 's banking sector administration and between departments (private banking boutiques.)
many of the problems experienced by the Iraqi economy at the current stage we can find her theoretical solutions with ease, however, go into in applications makes this a very difficult solution details and often ends enforcement mechanisms to neglect and extinction, and this explains the large number of issuing decisions in our country without moving the wheel of life, which explains the large number of theories without access to the paths of realistic solutions.
how many times have recommended to the economic Committee in the Council of Ministers to intensify efforts by private banks on educating citizens to deposit their money in banks rather than keep them inside the house, and the strengthening of trust between the citizen and the banks, and how much has urged in its private banks to create partnerships with international banks for the purpose of enhancing its developmental role in the economic arena and create investment opportunities and thus run the workforce unemployed.
from this point of view , the government optimistic about finding solutions and outs of financial and economic crisis plaguing the country and we are at war with terrorism Advisory The vision emphasizes that solutions are available according to the financial and economic data that indicate a gradual transition towards a market economy and to entrust the task of file management economic private sector in conjunction with the compression of public expenditures and attempts to increase non - oil revenue policy.
but the reality collides with numerous obstacles that stand in the forefront of which the problem of the lack of a real private sector is aware of his duties and rights, as well as human resources patting bureaucracy and utilitarian patterns in the social and cultural contexts REO lot of imbalances that contribute to obstruct the wheel of life rotation.
in this context , the idea of launching 5 trillion dinars for the specialized banks by the central bank since November 2015, and was optimism at its most intense, as it was necessary to accelerate the launch of these loans electronically to contribute to the move the trades and transactions in the local Alosouk, and ensure access these loans to their goals, and we welcome June and human energies that entrusted her to grant these loans file a spin in a closed spiral, we are able to manage this file electronically and are courageous enough to recognize the inability and step aside to leave the matter of human energies
again.
as attempts are being made to convince the authorities of existing loans from the futility of granting these loans electronically and persuade it to release of loans to manually enable the parasites and users and opportunists from the domination of these loans and denying workers the real ones sectors.
then go valid optimism in the project of the Central Bank loan banks specialized gone unheeded , as the optimism in the idea of deposit money banks , Rafidain and Rasheed , and the Iraqi trade among private banks.
http://www.alsabaah.iq/ArticleShow.aspx?ID=117194
Economic resources management efficiency substitute for borrowing
5/30/2016 0:00
Baghdad -imad emirate
said the academic from the Faculty of Administration and Economy in Qadisiyah Abdul Karim University Jaber Hnjar: to exploit the diversity of financial resources and good in any country in the world would the administration that is the country from the global financial institutions , which are often conditional on measures loans may disproportion sons that country. He Hnjar «morning», contributed to Africa, for example, in the advancement of the industrialized world since the late fifteenth century when he entered with Europe in a joint commercial exchange where this led to the exodus of wealth, especially gold from the first to the second, and in our time is still the continent brown face significant challenges.
He said to try officials work to improve economic and social conditions, and therefore headed to the world markets in search of financial and technological resources and capabilities, but it seems that the outcome of such attempts do not come to fruition, as it is still 45 percent of the population of the continent's 700 million people live on less than a US dollar a day, as there are 24 African countries among the 32 countries at the lowest ladder of human development. He Hnjar, figures indicate that foreign trade in food commodities (oil, cocoa, coffee and sugar) recorded a surplus of $ 31 billion in 1980 , dropped to third in 1995, and recorded in the same year a deficit of two billion dollars, and this of course if Maslmna specialization historic this continent in the export of materials, how the case is under the force of the WTO agreements?
He pointed out that trade in industrial goods , then surely that the deficit continues, notes from the figures that the main partner is the industrialized countries, whether to discharge its core product or a source for advanced goods technology or grain as food for their people.
He Hnjar: that African countries, as do developing countries, borrowed from the international financial market to finance the development of its requirements, has obtained loans from official and commercial private sources.
Hnjar reported that schedules debt figures only show African long - term debt and agreed it as easy debt and assume conditions lending soft notes mounting debt after that was approximately $ 140 billion in 1975 jumped to $ 157 billion in 1998 In contrast escalated debt service as well, and demonstrates the continuity of dependence on foreign loans after the decline in official development assistance size and the deterioration of the terms of their terms of trade.
he concluded Hnjar saying: refers debt figures first long - term debt ratio to gross national product, and shows this indicator escalating proportion Maigttah lenders of GDP, since any economic activity must be reflected in the evolution of GNP, this development requires more investments that exceed the available local resources, this means looking for a large part of financial resources through external loans, the escalation of this ratio observed continuously even recorded 99 percent of the gross national product goes to creditors and this Mascl in 1999, the second trend is ratio of debt service to exports of goods and services.
http://www.alsabaah.iq/ArticleShow.aspx?ID=117195
Hafiz: Required sound management to overcome the financial crisis
5/30/2016 0:00
BAGHDAD Shokran Fatlawi
discussed economic seminar organized by the progress of policy development institute on the IMF loan to Iraq, and to clarify misunderstandings among different circles about it details, it came during a seminar organized by the progress of the Development Policy Institute in the presence of a financial advisor to the prime minister and a group of finance and economy experts. And initiated the seminar titled « The role of foreign loans in resolving the financial crisis» and attended the »morning» word to the director of the institute , Dr. Mehdi al - Hafez said through which the country faces a financial are conditions described Balassabp, pointing to the need for sound management of real and review the political, financial management, pointing out that the country in its current state it needs to make the right decisions based on sound management, according to the standards of corporate governance.
International loan details
For his part , Economic Adviser to the Prime Minister Dr. occur. The appearance of Mohammed Saleh international loan details , saying that the relationship began with the World Bank and the International Monetary Fund in 2004 , and that Iraq is a founding member of the bank 's international fund since 1944 , adding that that relationship foundered in 1977 after the former regime had decided not to provide the Fund 's statements on the economy Iraqi. He noted that the relations returned with the two organizations to normal after the fall of the regime in 2003, pointing out that these relations organized by the UN Security Council , which committed Iraq positively engages with the International Monetary Fund and the World Bank in order to reach the settlement of foreign debt through the agreement «Paris Club» , which is an order binding decision and is not an option for Iraq that the recent stability is part of the regional and international economic stability.
the «Paris Club» an informal group consisting of Mmoliyn finance officials from 20 countries of the largest economies in the world, offering financial services instead of declaring bankruptcy or debt relief cut interest it, and cancel the debt of highly indebted countries.
Saleh added «World Bank» request from Iraq to prepare detailed breakdown of the economic its potential and infinite money and funds available to the state institutions, as well as knowledge of dues Contractors details accompanying the performance of the Ministry of Finance and re bank restructuring Rafidain and Rasheed governance and the establishment of the company to guarantee deposits and ensuring social welfare and the ration card and displaced communities.
Net exchange real
He hinted that the IMF and World Bank deal size distress at more than $ 50 billion for the period from 2016 to 2019, after an evaluation process by the Fund and the World Bank , which completed the Iraq mission steps , including, explaining that access to international loan easily not taken but after taking a series of measures, including access by the Fund on the net real exchange for Iraq during the
year 2015. He noted that the fund after the follow - up to the exchange discovered Salaries exaggeration as well as inflation and other passages, prompting the Fund and the World Bank to demand from Iraq , including the oil price of $ 35 instead of 45 and the export of 3.6 million barrels per day, bringing the deficit to $ 11 billion , pointing out that he later deleted several paragraphs remaining $ 6 billion a year fund and the bank Internationals take care paid off.
he concluded in favor of clarifications on the loan, that the agreement Iraq is required to issue the law of financial management, as well as the introduction of the integrity Commission as an active player in the independent follow - up process and adopt a document of the United Nations anti - corruption, accompanied by an amendment of the Central Bank Act restricts the Ministry of Finance of new foundations and subdue external and internal debt in the country to scrutiny as the domestic public debt amounted to 37 trillion dinars. It should be noted that the IMF agreement with the federal government in the absence of any clause referring to allocate a portion of the Kurdistan region , where the provincial government took the initiative to subdue its oil exports to a foreign auditor for submission of the federal government , according to an economic advisor to the Prime Minister.
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