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Finance Committee: Delete the zeros of the local currency begins early next year- Friday, July 13, 2012

Finance Committee: Delete the zeros of the local currency begins early next year

Diyala July 14 (AKnews) - Translated:  The parliamentary Finance Committee, Saturday, that the process of replacing the currency and delete the zeros of which will be gradually beginning of next year, noting that the process takes two to three. said committee member and MP for the Iraqi List, Hassan Auzmn told Kurdistan News (Rn) that the CBI will withdraw the existing currency early next year gradually and keep trading currency current grant citizens enough time to replace the currency. " He Auzmn replace the currency and delete the zeros experience successful and useful for the Iraqi economy through their success in a number of other countries, pointing out that "The operation will contribute to ease carrying banknotes among citizens and will not have any negative impact on the Iraqi economy (according to him). has not ruled out Auzmn attempts forging new currency afterthought: the security measures to be taken to protect the currency will mark easily between the old currency and the new currency. announced the Finance Committee Parliamentary early July of this that the budget next year 2013 will be the new currency after deleting three zeros from the current currency, saying that the reluctance of traders and companies from trading in Iraqi currency behind the adoption of the Central Bank project to delete zeros. Some economists that Iraq is not formatted for the time being to delete the zeros of Iraqi dinar, pointing out that the deletion needs to security and political stability as well as economic stability. : Mahmoud al-Jubouri, the Open: Peace Baghdadi

source: http://bit.ly/PMx3ET

Government wants CBI to carefully delete zeros and reveal the financial details of the project- Saturday, June 30, 2012

Government wants CBI to carefully delete zeros and reveal the financial details of the project

translated:   Revealed the House Financial Committee, Sunday, prompting Prime Minister Nouri al-Maliki for the Central Bank to wait to delete the zeros of the Iraqi currency, noting the presence of several foreign companies vying for printing the new currency.

Member of the parliamentary Finance Committee for “Haitham al-Jabburi,twilight news,” Prime Minister Nuri al-Maliki asked the Central Bank to wait to delete the zeros of the Iraqi currency.

“The Finance Committee met Wednesday with the Deputy Governor of the Central Bank and was discussing the deletion of zeros and print new currency”.

“We’re afraid that in the process of delivering the money to the banks for the purpose of manipulation and blackmail citizens but time is exceeded, this case after the approval of the Central Bank to be there 10 years forward allowed the old Iraqi currency delivered.”

The “new currency contains 36 cases of fraud while ensuring that current currency contains 8 just so it is expected that the new currency forgery difficult.”

He said the new currency would consist of categories of paper and metal paper ones are groups of 200 dinars, equivalent to 200,000 dinars a $ 180, 100, 50 and 25 dinar JD either metal is half dinar JD and a quarter and 100 Fils and 50 Fils, 25 Fils is the smallest coin equal to 250 dinars “.

“Been subject to national symbols such as Helicobacter and civilization of ur and the castle of Arbil and waterfall geli and Mosul Dam”.

He noted that “there are offers of mnsharkat Swiss and Russian and Brazilian compete in terms of price and quality for printing the new currency would be subject to discussion, presentations by competent Central Bank to determine who qualified for printed money.”

The CBI had earlier described, delete zeros from the currency project as “a new infrastructure of the country is no less important than other infrastructure.”

The Deputy Governor of the Bank, said Mohammad Saleh appearance that the project reflects the harmony of speed angashza ministries and competent State departments away from institutional work, ‘ isolationist value for the independence of the Central Bank if the independence high coordination with other economic institutions to build Iraq. “

http://bit.ly/SMhieq

Import of 60 armored vehicles for the transfer of funds between Iraqi banks- Wednesday, June 20, 2012

Import of 60 armored vehicles for the transfer of funds between Iraqi banks

Translation:  Finance 60 US-made armored truck, to transfer money between Iraqi banks. The sources said the reporter Agency (dinars), "The Ministry of Finance has imported 60 trucks armored American made, dedicated to the transfer of funds between banks in Baghdad and the provinces, adding that the new trucks armored and can not be breached even improvised explosive device., The sources added, quoting a Force Personnel Protection and the Ministry of Finance he new trucks were imported due to the worn out old trucks. Iraq has witnessed many incidents of theft of money banking during the transfer process during the deterioration of security after the 2003 World especially in Alosth region and west of it. 

http://bit.ly/WRkMmL


http://bit.ly/WRkMmL

Iraq reduces below poverty line to 16% from 23%- Sunday, June 17, 2012

Iraq reduces below poverty line to 16% from 23%

The number of Iraqis under poverty line has been reduced to 16% of the country’s population of more than 30 million people from 23%, said Labor and Social Affairs minister.

The minister Nassar al-Rubaai said one main reason for the drop in poverty has been the country’s social security network and the interest free loans the ministry extends to low-income families to start small businesses.

“The government has begun implementing national and strategic policies to alleviate poverty in accordance with the national vision that calls for the building of a democratic, just and balanced society,” the minister said.

He said this year the government has allocated $84 million to support small projects by low income families across the country with the social security system currently covering almost all Iraqis with no regular income.

“These allocations and policies have contributed to reducing the rate of those under poverty line from 23% to 16%,” he said.

The plunge in poverty line has positively impacted employment which is still estimated at 16% in Iraq, the minister added.

Iraq has seen a surge in its hard cash earnings due to marked increases in its oil export and firm oil prices in international markets.

But the country still remains almost solely reliant on oil royalties for its hard cash most of which goes to covering civil servant salaries, defense and imports.

The country’s exports other than oil are almost negligible.

Source: http://bit.ly/W0imMt

British Ambassador of Karbala: End of this year will end the problem of Chapter VII to Iraq- Tuesday, June 12, 2012

British Ambassador of Karbala: End of this year will end the problem of Chapter VII to Iraq.

McGill said the British Ambassador Aaron on the pursuit of his country and other countries at the United Nations to remove Iraq from Chapter VII, adding that this problem will end at the end of this year.

He said Aaron during a news conference during his visit to Karbala, attended by a reporter ( news agency News Matk) We are working with our friends and the rest of the United Nations for the withdrawal of Iraq from Chapter VII, he would end this problem end of this year, and noted that there are signs of resolving the crisis is encouraging especially after the visit of Prime Minister of Iraq to Kuwait and to agree on all points of disagreement as well as after the presence of the Emir of Kuwait to the Arab Summit, which proves to settle the dispute on the points of demarcation between the two countries and the missing Alkwytatin in Iraq, pointing out that during the end of this year will be out of Iraq from Chapter Section VII.

He said .. We understand the concerns of neighbors about the Kuwaitis, but after two visits to both countries by the Iraqi Prime Minister and the Emir of Kuwait ended the seventh chapter and there is much progress to this point between the two countries.

With regard to the situation in Iraq, he said the British ambassador , said the vision of the British government of Iraq has become different from the past as Iraq has returned to its true role in the regional countries, he said, adding that we do not want any state interference in the internal affairs of Iraq.
He said .. That Iraq now has a parliament, government and elections, a self-governing and do not want any neighboring country or regional interference in its internal affairs as well as we want from the Government of Iraq believes that the democratic process and freedom.

He said that he found after a tour in several Iraqi cities, Najaf, Nasiriyah, Basra and Karbala, now in development that there is a remarkable progress in the proportion of services to the people. as he put it.

http://bit.ly/ZlscMA

United Nations: Iraq Update June 2012, Security Council- Thursday, May 31, 2012

United Nations: Iraq Update June 2012, Security Council

MIDDLE EAST | Iraq

Expected Council Action
The funding for the activities of the High-level Coordinator who advises the Council on the Iraq-Kuwait missing persons and property issue, is due to expire in mid-June. The Council is expected to receive a report on the issue, pursuant to paragraph 14 of resolution 1284, and a briefing in consultations by the coordinator, Gennady Tarasov. The Council is likely to issue a press statement on the coordinator’s activities and supporting the extension of the coordinator’s funding.

The Council is also expecting the second report of the Secretary-General, pursuant to paragraph 6 ofresolution 1956, on the post-Development Fund for Iraq (DFI) mechanism. At press time it was not clear if the Council would consider the report in June.

The mandate of the UN Assistance Mission for Iraq (UNAMI) expires on 28 July.

Key Recent Developments
On 10 April, Martin Kobler, head of UNAMI, last briefed the Council. Kobler stated that “Iraq’s political situation is heightening communal tensions in the country.” However, he commended “the Kuwaiti and Iraqi Governments for their efforts to improve bilateral relations.” 

In other significant Iraq-Kuwait related developments, Nasser Hussain Bandar, head of Iraq’s civil aviation authority, said on 5 April that Iraq had agreed to the request of Kuwait’s Jazeera Airways to operate flights to Iraq, more than 20 years after direct flights between the two countries were halted. 

On 16 and 17 April in Kuwait, a delegation from the Iraqi Ministry of Foreign Affairs transmitted Kuwaiti currency, documents, keys for safes belonging to the Central Bank of Kuwait, and 15 microfilm cassettes containing the archives of Al Anba newspaper, to the Kuwaiti authorities. On 20 May in Baghdad, Iraqi Foreign Minister Hoshyar Zebari met Tarasov and highlighted these developments. According to the Iraqi Ministry of Foreign Affairs’ website, Zebari also highlighted Iraq’s “serious efforts to find the remains of the Kuwaiti Missing in Action” and his country’s keenness to getting out of Chapter VII.

On 29 April, Sabah al-Khalid al-Hamad al-Sabah, Kuwait’s Deputy Prime Minister and Minister of Foreign Affairs, attended the second meeting of the joint Iraq-Kuwait Committee, in Baghdad. Following the meeting, Zebari told reporters that the two sides had reached important agreement on cooperation.

In other developments regarding the compensation, on 26 April, the UN Compensation Commission (UNCC) made a payment of $1.02 billion to six claimants. (The Geneva based UNCC was established through Council resolution 692 in 1991, to process claims and pay compensation for losses resulting from Iraq’s invasion of Kuwait in 1990.)

In a 4 May letter to the President of the Council, the President of the Governing Council of the UNCC highlighted Iraq’s contribution to the Compensation Fund stating that “the outstanding balance of $16 billion could be paid in full as early as April 2015.” Furthermore, the letter noted “satisfaction with the continued transfer of 5 per cent of Iraqi oil revenues to the [Compensation] Fund since the transfer of the oversight over Iraqi oil revenues to the Committee of Financial Experts.” 

Human Rights-Related Developments
After a meeting in Baghdad on 25 April with Iraqi Minister of Human Rights Mohammed Shi’a Al-Sudani to review the situation of human rights in Iraq, Kobler welcomed Iraq’s intentions to place greater attention on social, economic and cultural rights, while also remaining committed to promoting and protecting political and civil rights. Noting that human rights are “a cornerstone of every democratic state,” Kobler said that UNAMI would continue its support to the Minister of Human Rights as a key player in ensuring that Iraq meets its international human rights obligations.

Key Issues
A key issue before the Council is the extension of the High-level Coordinator’s activities to help resolve the issue of missing Kuwaiti persons and property.

Another issue for the Council is whether the post-DFI mechanism is functioning in a satisfactory fashion.

Options
On Iraq-Kuwait issues the Council could release a press statement that:

  • acknowledges the recent positive developments;
  • encourages Iraq to make further progress on resolving outstanding issues (including borders, missing persons and property);
  • supports the Secretary-General’s intention to extend the activities of the High-level Coordinator for an additional six months or longer; and
  • reiterates the need to resolve outstanding issues between Iraq and Kuwait before the removal of any further Chapter VII measures imposed during the regime of Saddam Hussein.

On the post-DFI issues the Council could take no action at present while continuing to monitor the progress of the post-DFI mechanism until the audit is conducted. (The first report of the Secretary-General pursuant to paragraph 6 of resolution 1956 [S/2011/795] notes the appointment of the firm Ernst & Young to conduct the 2011 audit of the DFI and its successor account.) 

Council and Wider Dynamics
Most Council members are overall pleased with the recent progress on Iraq-Kuwait issues. Several members feel that it is important for Iraq to make further efforts to fulfil its obligations to Kuwait but they do acknowledge that the recent developments on this issue are encouraging.

The US is the lead country on Iraq issues in general, and the UK is the lead on Iraq-Kuwait issues.

UN Documents

Security Council Resolutions

  • S/RES/2001 (28 July 2011) extended UNAMI’s mandate until 28 July 2012.
  • S/RES/1958 (15 December 2010) terminated the Oil-for-Food programme and established an escrow account to provide indemnification to the UN with regard to the programme for a period of six years.
  • S/RES/1957 (15 December 2010) terminated the Weapons of Mass Destruction-related Chapter VII measures that Iraq was subject to and urged Iraq to ratify the Additional Protocol to the Comprehensive Safeguards Agreement with the IAEA as soon as possible.
  • S/RES/1956 (15 December 2010) extended the Development Fund for Iraq and related immunities a final time until 30 June 2011 and affirmed that five percent of Iraqi proceeds from oil sales would continue to be deposited into a compensation fund after that date.
  • S/RES/1284 (17 December 1999) established UNMOVIC and requested the Secretary-General to report to the Council every four months on the compliance by Iraq with its obligations regarding the repatriation or return of all Kuwaiti and third-country nationals.
  • S/RES/692 (20 May 1991) established the UNCC and the UN Compensation Fund.

Secretary-General’s Reports

  • S/2012/185 (29 March 2012) was the latest Secretary-General’s report on UNAMI.
  • S/2011/795 (22 December 2011) was the first report of the Secretary-General pursuant to paragraph 6 of resolution 1956 about the UN Compensation Fund.

Selected Letters

  • S/2012/332 (4 May 2012) was from the president of the Governing Council of the UN Compensation Commission to the president of the Council.
  • S/2012/309 (10 May 2012) was from Iraq’s Ambassador Hamid al-Bayati to the president of the Council, updating him on the handover of some of the missing Kuwaiti belongings.

Meeting Record

  • S/PV.6747 (10 April 2012) was Kobler’s briefing to the Council.

Security Council Press Statements

  • SC/10490 (15 December 2011) expressed the Council’s intention to continue funding for the activities of the high-level coordinator for missing Kuwaiti persons and property.
  • SC/10307 (30 June 2011) welcomed the Iraqi government’s assumption of autonomy over the DFI.
  • SC/10289 (22 June 2011) expressed the Council’s intention to continue funding for the activities of the high-level coordinator for missing Kuwaiti persons and property.

Other Relevant Facts

Secretary-General’s High-Level Coordinator for Iraq-Kuwait Missing Persons and Property

Gennady Tarasov (Russia)

Full Forecast

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Iraq reached an agreement worth $500 million to settle the debt with Kuwait- Tuesday, March 13, 2012

Iraq to reach an agreement worth $ 500 million to settle the debt with Kuwait

Arbil, March 14 / March (AKnews) - A media adviser to Iraqi Prime Minister Nuri al-Maliki on Wednesday that Iraq reached an agreement worth $ 500 million with Kuwait to settle debts dating back to the Gulf War prevented Iraqi Airways flights to the West.

It quoted "Reuters" Ali al-Moussawi of Kuwait visited by Iraqi Prime Minister, saying that "Iraq will pay under the agreement of $ 300 million in cash to Kuwait and will invest another $ 200 million in airline joint Kuwaiti-Iraqi."

He added that "Kuwait in contrast to halt legal action against Iraqi Airways."

In 2010 Kuwaiti lawyers tried to detain aircraft for the Iraqi lines in the first flight to London.

The theme of Iraqi Airways is part of a long-standing dispute between Iraq and Kuwait on billions of dollars in damages for invasion of Iraqi President Saddam Hussein of Kuwait in 1990-1991.

Maliki arrived in Kuwait on Wednesday morning at the head of a delegation to discuss the outstanding issues between the two countries.

The debt on top of these files in addition to the demarcation of land and maritime borders and the issue of port Mubarak that created a kind of political tension between Baghdad and Kuwait during the past months.

But the visit comes after the countries have recently expressed their support for the resolution of disputes dating back to the nineties of the last century after Saddam Hussein's invasion of Kuwait in 1990.

Kuwait announced earlier readiness turn the page on the past and start a new page of its foreign relations with Iraq on the basis of mutual respect which positions when Iraq over remarks by Prime Minister Nuri al-Maliki.

Kuwait rejects Iraq would emerge from Chapter VII of the UN Security Council until the fulfillment of obligations owed with respect to three files is the issue of missing Kuwaitis and archives, as well as the issue of the demarcation of the border between the two countries.

It is possible to affect negotiations the two sides on the decision taken by the UN Security Council in June next on the possibility of the withdrawal of Iraq from Chapter VII.

Open: Abdullah Sabri

http://bit.ly/SDEqeS

Tags :  kuwaitoildebtchapter 7iraqkuwaitoildebtchapter 7iraq
Iraq reached an agreement worth $500 million to settle the debt with Kuwait- Monday, August 8, 2011

Iraq to reach an agreement worth $ 500 million to settle the debt with Kuwait

Arbil, March 14 / March (AKnews) - A media adviser to Iraqi Prime Minister Nuri al-Maliki on Wednesday that Iraq reached an agreement worth $ 500 million with Kuwait to settle debts dating back to the Gulf War prevented Iraqi Airways flights to the West.

It quoted "Reuters" Ali al-Moussawi of Kuwait visited by Iraqi Prime Minister, saying that "Iraq will pay under the agreement of $ 300 million in cash to Kuwait and will invest another $ 200 million in airline joint Kuwaiti-Iraqi."

He added that "Kuwait in contrast to halt legal action against Iraqi Airways."

In 2010 Kuwaiti lawyers tried to detain aircraft for the Iraqi lines in the first flight to London.

The theme of Iraqi Airways is part of a long-standing dispute between Iraq and Kuwait on billions of dollars in damages for invasion of Iraqi President Saddam Hussein of Kuwait in 1990-1991.

Maliki arrived in Kuwait on Wednesday morning at the head of a delegation to discuss the outstanding issues between the two countries.

The debt on top of these files in addition to the demarcation of land and maritime borders and the issue of port Mubarak that created a kind of political tension between Baghdad and Kuwait during the past months.

But the visit comes after the countries have recently expressed their support for the resolution of disputes dating back to the nineties of the last century after Saddam Hussein's invasion of Kuwait in 1990.

Kuwait announced earlier readiness turn the page on the past and start a new page of its foreign relations with Iraq on the basis of mutual respect which positions شاطرها when Iraq over remarks by Prime Minister Nuri al-Maliki.

Kuwait rejects Iraq would emerge from Chapter VII of the UN Security Council until the fulfillment of obligations owed with respect to three files is the issue of missing Kuwaitis and archives, as well as the issue of the demarcation of the border between the two countries.

It is possible to affect negotiations the two sides on the decision taken by the UN Security Council in June next on the possibility of the withdrawal of Iraq from Chapter VII.

Abdullah Sabri

http://bit.ly/SDEqeS

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