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Dear James,
ALL
RIGHT FOLKS SO DO YOU REMEMBER A FEW WEEKS BACK WHEN WE TOLD YOU THE
RATE HAD CHANGED INTERNALLY AND THE MEMBERS OF THE PARIS CLUB AND THE
EU HAD BEEN PAID, WELL HERE IT IS IN INK AND SOOOOOO MUCH MORE. I
ALMOST MISSED IT THE TOPIC OF THIS ARTICLE IS THE CREDIT RATING FOR THE
COUNTRY BUT THE LAST PARAGRAPH CONFIRMS WHAT OUR INTEL TEAM HAS KNOWN
FOR 3 WEEKS. WE JUST GET SO EXCITED WHEN THINGS THAT WE TOLD VERBALLY
EVENTUALLY SHOW UP INK, IT'S EXCITING!
NOW
WHAT DOES IT ALL MEAN, IN MY OPINION IT MEANS WE JUST MOVED ONE STEP
CLOSER TO THE SECURITY AND STABILITY OF THE COUNTRY. THEY ARE DEBT FREE
AND GOING FOR A GLOBAL CREDIT RATING.
PLEASE
PAY ATTENTION TO THE MEMBERS OF THE PARIS CLUB AND THE OBSERVER BANKS
OK, THESE ARE ALSO THE COUNTRIES THAT HAVE BEEN IN AND OUT OF IRAQ LAST
FEW WEEKS, AND THE COUNTRIES THAT ARE A PART OF OBAMAS COALITION THE
SAME COUNTRIES THAT SAID THEY WOULD NOT ENGAGE UNTIL THEY GOT PAID FROM
THE 2004 DEBT.
The
19 Paris Club permanent members are countries with large exposure to
other States woldwide and that agree on the main principles and rules
of the Paris Club. The claims may be held directly by the government or
through its appropriate institutions, especially Export credit
agencies. These creditor countries have constantly applied the terms
defined in the Paris Club Agreed Minutes to their bilateral claims and
have settled any bilateral disputes or arrears with Paris Club
countries, if any. The following countries are permanent Paris Club
members: AUSTRALIA, AUSTRIA, BELGIUM, CANADA, DENMARK, FINLAND, FRANCE,
GERMANY, IRELAND, ISRAEL, ITALY, JAPAN, NETHERLANDS, NORWAY, RUSSIAN
FEDERATION, SPAIN, SWEDEN, SWITZERLAND, UNITED KINGDOM, UNITED STATES
OF AMERICA. DO ANY OF THESE COUNTRIES SOUND FAMILIAR TO YOU???
REMEMBER EVERY TIME A DELEGATE, ARRIVES IN IRAQ I TELL YOU
GUYS TO TAKE NOTICE AND KEEP TRACK THIS IS WHY.
NOW
LET'S HAVE A LOOK AT OUR OBSERVERS HERE THEY ARE. There are three
categories of observers:
representatives
of international institutions: IMF, World Bank,
OEC , UNCTAD, European Commission, African Bank of development, Asian
Bank of development, European Bank for Reconstruction and Development,
Inter-American Bank of development. DO ANY OF THESE
INSTITUTIONS SOUND FAMILIAR TO YOU GUYS?
SO
HERE IS THE ARTICLE;
Paves
the global accounting firms to obtain credit rating
9/14/2014 0:00
BAGHDAD Mustafa al-Hashemi,
Iraq achieved great success, with the
help of financial institutions and international companies specialized
control and financial auditing and accounting through
brought in to those companies, in extinguishing a large proportion of its foreign debt, as it
is hoped to contribute to these companies and institutions in Iraq
to get the credit rating.
confirmed expert Economist Dr. Hilal Taan that those companies have
contributed significantly to the development of Iraqi competencies in
the field of audit and control and accounting of what will
result, to speed up access to the
credit rating of Iraq being a help to the country's
progress in the peace International Classification according tointernational standards after the liberation
entirely of its financial obligations International.
was The government has embarked on since 2004 contracted with a number
of consulting firms in the financial aspects of the audit, accounting
and legal, along with two banks WCW as external advisors who provide
advice, support, and consulting with all Maitalq settlement of Iraq's
foreign debts.
said Taan that the government step of contracting with these
institutions is very good, but he also said that it does not mean
dispensing with the experiences of Iraqi cadres and efficiency in this
area, explaining that it contributed to the development of cadres of
the country through their participation in the work with foreign
experts on dealing in the management of files computational scientific
methods of modern.
adding that the companies have achieved
clear success in containing the debt and extinguish, It also had
a prominent role in collaboration with the Central Bank and Ministry of
Finance in this topic, stressing the need for Iraq to consulting firms
accounting and auditing for the purpose of audit according to
international standards to the fact that any country in the world should be available by the
international measurements of balance and the balance of the currency
and financial resources and mechanism of distributed and spent.
mentions The institutions contracted by the government with it are all
from Ernst & Young (Chancellor
of accounting and Checksum) is responsible for auditing and matching
Iraq's foreign debt, and the Foundation Cleary Kutlob (outside legal
counsel) and the Foundation for
Lazard French (financial advisor) mission cooperation and
provide support and coordination between the Ministry of Finance The Iraqi Central Bank
and the Paris Club countries braved the (18) state all the money linked
to the settlement of the debt due to its close relationship with the
countries of the club.Foundation Houlihan Lokey English, a financial advisor outside
(negotiating) to the Ministry of Finance is responsible for providing
support to each Maitalq settlement of debt countries the London Club or (non-member states of the
Paris Club) and Masstasta Krupp and JP Morgan and two two banks mission
is to provide support to the Ministry of Finance to settle the debts of
trade creditors foreigners (foreign private sector) has been assigned
the task to them, along
with the large number of trade creditors.
http://www.alsabaah.iq/ArticleShow.aspx?ID=77808
ALL
RIGHT THIS IS HUGE TOO
Density
bank does not chime and sustainable development plans
9/14/2014 0:00
Mana calls to revive the proposal to establish a Bank for Economic
Development
BAGHDAD - Hussein al-Tamimi Tgb
demanded an economist granting freedoms for banks operating to
contribute effectively to the achievement
of economic development, and that there is equitable geographical
distribution of banks and branches in all cities to provide services
and products to a wider area, particularly financial loans that
contribute to the reducing poverty line.
urged Tawfiq inhibitor in an interview for the "morning" on
the necessity of activating the proposal to establish a bank for
economic development that was ratified in law the 2006 budget, and
spread its branches in all the provinces to cover the investment
services and rebuilding the infrastructure and this is a subject worthy
of serious stand. moving the market activities and stressed the
importance that banks contribute in supplying the investment process
and move the construction market and work in the country, pointing to
the importance of activating the
cycle of capital to assist in moving the market activities, industry
and agriculture, to contribute to the increase in gross domestic
product rather than relying on the global market and increasing
steadily rents and unilateral economy.
balanced economic development He added that the real challenge and the
reality of progress and construction in the world is creating a strong
economy through the establishment of balanced economic development and
integrated play and the evolution of social and economic reality right
to exploit the material and human resources by identifying the visions
of the economy and sustainable development, noting that the economic
and social development is the third pillar is very important for
national security and national, pointing out that the beginning of the
development of the banking system of a country like Iraq to become
banks have any active role to establish
an attractive environment and encouraging for investors at home and
abroad because of the three pillars of the investment are looking for
an investor comes after political stability and security. Are
banks, insurance and logistics system (transport, supply, and storage).
between the role of the banking sector, the current ineffectual and
effective activities abused by the private sector, Certainty between
the beneficiary and public banks and mixed private and missing and the
consequent two things transform
Iraqi funds abroad to invest, operate and saved, either at home The
owner of Capital prefers Oktnazha rather than saved or invested, which
declined the role of the private sector. distribution of banks and
pointed to contrast the geographical distribution of the density of
banking and density quantitative number of banking units available for
one hundred thousand residents of Iraq or Alnph standard for the
distribution of the banks, and the average (closer to 3 banks per 100
000 Iraqi citizen) This contrasts with the approach of sustainable
development, while Bangladesh (5 banks per 100 000 residents) and
compared with only Spain 100 units America, 35 British and 13 notes a
dramatic difference from the figures, authorized Banks in the country
are weak to provide services to the citizen as is the case in the
world, referring to the disparity in the granting of loans, as Baghdad
accounts for 73 percent of the value of loans granted in Basra, while 1
percent and zero Dohuk and Anbar 2 thousand. There is a very important
indicator and clear the subject of performance and administration as it
did not take into account the subject of the separation of capital and
management.
pillars of investment and continued inhibitor, saying that companies
investing in foreign facing the absence of banks that facilitate the
operations required by the movement of cash by simplifying lending,
financing and conversion, insurance and Allojcetk and things are the
three most important Staff and pillars of foreign investment, and noted
the importance of the subject of the performance of banking and
insurance. weakness insurance and Asher weakness attention to insurance
and promise to decline in fiscal policy in the country, both to secure
people and financial, and the National Insurance Company did not deal
claim to work as a secure real, especially in regard to re-insurance,
and this one of the biggest obstacles in delayed investment. said that
private sector banks are few in number in the stock market investor in
the stock market does not invest his money in the institution did not
know anything about it and the banks most of their capital a family,
and if the private sector banks will end up like the rest of the
companies registered in the Iraqi market for securities is clear from
the indicators that are below the level of ambition, because of the
loss of the vocabulary of good governance in these companies, if what
contributed citizen storehouse of his money, it means that he will
contribute to an increase in investment rates and thus increase
economic activity.
http://www.alsabaah.iq/ArticleShow.aspx?ID=77805
RAISE
THE STANDARD OF LIVING....HUMMMM HOW BEST SHOULD THEY DO THAT!
Government
program aims to raise the standard of living of citizens
9/14/2014 0:00
BAGHDAD - Farah pumice
government is seeking through the implementation of its program to
achieve the standard of living and a service to the citizen meets the
requirements essential to live in dignity on in accordance with the
principles of the actor committed to the effective programs and
strategies in place in advance the most prominent development strategy
Aloutnah.oppema particular occur Member of Parliament Dr Ibrahim Bahr
al-Ulum, indicating that the program government relied mainly on the
premises useful at the level of state-building, the most important activation of
decentralized management and starting a revolution administrative to
rebuild state institutions and activating the principle of
accountability, along with the adoption of consulting offices with
expertise in terms of planning, as well as the economic vision in the
shift towards the principle of private sector in various fields.
added Bahr al-Ulum that "basic premises are useful for activating
the program as if it were cooperation and coordination with the House
of Representatives in the field of legislation and oversight, and the
adoption of these basic principles in the field of development and bear
arms, however, the state and the interest of foreign policy that is
based on common interests," stressing that it will be effective as
if they were adhered to in accordance with the activation of programs
and strategies in place in advance, including strategy development
Aloutnah.okan government program presented by the Prime Minister Haider
Abadi, the House of Representatives last Monday has met with wide
acceptance by members of Parliament, as approved by the Council by an
absolute majority.
continued Bahr al-Ulum : The basic items that depend on them the reform
process is to combat corruption and improve the financial management
system and activate the transformation of the rentier to the system
depends on broadening the base of other productive sectors, in addition
to providing the investment environment appropriate, all you need to
reform programs of economic, administrative and institutional, to
contribute to improving Indeed, the service has Aama.kma that the
government program depends on maximizing state revenues, including oil
revenues, at least in the short term and rely on increased production
which is linked to the absorption of the production of the Kurdistan
region and the activation system Kirkuk fields, taking into
consideration the current circumstances, it halted, considering that
the main theme the financial revenue of the state is oil, so the
mechanisms and strategies adopted by the government from one location
to another depends on the ability of financial and economic
institutions, as it is necessary to work on its activation to be
absorbed this production, which is estimated at about half a million
barrels a day if they were to invest the entire revenue that goes to
Iraq , he says.
Nevertheless, the Bahr al-Ulum urged to implement the program in a
practical and beneficial distinctive and systematically in line with
the legislation and the visions of the House of Representatives and the
legislation of laws required and basically build a strategy to fight
corruption, which is reflected as a positive citizen, also will
contribute to the improvement of living conditions and upgrading the
service thus raise the level of human development that are related to
the basic resource for household income.
طباعة
http://www.alsabaah.iq/ArticleShow.aspx?ID=77806
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