Dinar Alert

Member News, Highlights & Comments

Kaperoni Moderator Central Bank: We will reduce dependence on oil revenues to 15% after 30 years
 
Saturday, 9 December  Alsumaria News / Baghdad  BAGHDAD (Reuters) – Iraq will reduce its reliance on oil revenues to 15 percent of the budget after 30 years from now, the central bank governor said on Saturday, adding that reliance on one supplier of budget revenues would be subject to constant volatility.
 
Al-Alak said in a speech during the third annual conference of the bank under the slogan “The role of the Central Bank in achieving financial and economic stability,” and attended by Alsumaria News, “There are real indicators for the achievement of alternatives other than oil will be relied upon.”

“We will reduce dependence on oil revenues gradually and we will reduce this gap by 2.5 percent annually and for 30 years, so that the dependence on oil revenues will not exceed 15% after 30 years.”
 
He added that “Iraq will witness the largest investment during the coming period, but that is coupled with the provision of the appropriate investment environment.” He pointed out that “relying on one resource for budget revenues will be subject to constant fluctuations and this is what Iraq will seek to achieve by reducing reliance on oil as a single resource for the budget” .
 
The Prime Minister Haider Abadi, said earlier, that Iraq is currently establishing to strengthen the economy and the lack of total dependence on oil, considering that the country is on the right track in this area.

LINK
 
Punisher       Wow!
 
Justwaiting     ties in with this one ~ from earlier today ~

​http://dinaralert.webs.com/apps/forums/topics/show/13461297
 
Kaperoni Moderator    Open those gates and let the investment flow.  The Balassa-Samuelson effect
 
Kaperoni Moderator  Iraq will witness the largest investment operations during the coming period
 
9/12/2017  The Governor of the Central Bank on the Keywords on Saturday that Iraq will reduce dependence on oil revenues in the budget gradually until it reaches only 15% within the next thirty years.
 
Keywords and said in a press interview, said that Iraq will reduce dependence on oil revenues gradually, and by 2.5% per annum for 30 years, so that the dependence on oil revenue by not more than 15% after 30 years. “
 
He added that “Iraq will witness the largest investment operations during the coming period, but that coupled with the provision of appropriate investment environment,” noting that “reliance on a single supplier revenue budget will be exposed ongoing volatility and this is what will seek Iraq to achieve by reducing dependence on oil as a resource and one of the budget.” finished / o
 
http://n.annabaa.org/news25308
 
Necessito    I realize a significant increase in foreign investment will help stimulate the private sector so we should all my excited by the news. It will be great to finally see the float and watch the dinar value rise as the economy grows. However a 2.5% annual shift over in the oil dependence gap is a slow moving train … if all goes to plan. Is the rise in dinar value expected to increase at a similar rate?
 
Punisher    The gates are opening…
 
http://dinaralert.webs.com/apps/forums/topics/show/13461330-central-bank-we-will-reduce-dependence-on-oil-revenues-to-15-after-30-years
*********************************
 
Tgirl Administrator   2017-12-09  Baghdad – Mawazine News   The expert on economic affairs, Dergam Mohammed Ali, Saturday, the exit of Iraq from Chapter VII is the most prominent economic event for the current year, indicating that it will pave the way for a safe area for business and investment.
 
“Iraq’s exit from Chapter VII represents an international recognition of the achievement it has achieved for all its financial requirements,” Ali said in an interview with Mawazin News. “He is qualified to keep his money abroad and his investments and real estate and banking assets from pursuing any side related to the economic sanctions that lasted for more than 27 years old. “
 
He added that Iraq has entered a completely new phase with the issuance of this UN resolution is to obtain full eligibility to obtain a sovereign credit rating and open foreign accounts directly on behalf of the Iraqi government and in the name of its banks and not through intermediaries, as was being done to get rid of the prosecution of money.
 
“This decision will raise the importance of Iraq as a safe area for business and investment and being a legally sound country in the performance of its sovereign obligations, which encourages the industry of the international working environment in the country.”
 
The Iraqi Foreign Ministry announced on Saturday morning the issuance of the Security Council decision to exit Iraq from Chapter VII, indicating that this came after a series of diplomatic successes.

LINK

{ display: none !important; }
 
Kaperoni Moderator    Related News: exit Iraq from Chapter VII paves the way for adoption a safe area for business and investment
 
2017/12/09 | 12:32  (Encyclopedia of this Day News | Iraq News ) – Economy
Since 09.12.2017 at 12:06 (Baghdad time)
 
BAGHDAD – The balance of News   Was considered a specialist in economic affairs Dergham Mohammed Ali, Saturday, exit Iraq from Chapter VII is the most prominent economic event for the current year, adding that it would pave to take a safe area for business and investment.
 
According to Ali in an interview / balance News /, that “Iraq out of Chapter VII represents international recognition of the accomplishment achieved by all financial requirements, and became eligible to keep his assets abroad and its investments and assets real estate and banking pursuits of any face linked to economic sanctions, which lasted for more than 27-year-old. “
 
He added that “Iraq has entered a new completely phase with the issuance of this UN resolution it is by obtaining full civil in obtaining a credit rating of a sovereign and open external accounts directly to the Iraqi government on behalf and on behalf of their banks and not through intermediaries as it was going to get rid of prosecutions for his money.”
 
He said, “This decision will raise the importance of Iraq as a safe business, investment, and being one of the states legally sound in the performance of its sovereign obligations, which encourages an international working environment industry in the country.”
 
The Iraqi Foreign Ministry on Saturday morning, the Security Council from issuing a decision to exit Iraq from Chapter VII, indicating that it came after a series of successes Aldblomaseh.anthy 29 / p
 
The opinions expressed below do not reflect the balance of opinion News site, but rather reflect the views of their owners only.
 
Note: Content entitled (Related News: exit Iraq from Chapter VII paves the way for adoption a safe area for business and investment) was first published on the website ( the balance of News) does not bear this encyclopedia today news content in any way.
 
And you can see the details of this title (Related News: Iraq out of Chapter VII paves the way for adoption a safe area for business and investment) through the original source of any site ( the balance of News).

LINK
 
Kaperoni Moderator    Wonder what the next move will be?
 
Justwaiting   kaperoni, ??  with the UN stating such,  how does the IMF 2% enter the picture? or does it?  Conundrum for me.   Guess we can only wait and see, but this is encouraging to me ~  maybe too optimistic, but ?
“exit Iraq from Chapter VII is the most prominent economic event for the current year”   Thank you!!
 
Kaperoni Moderator    IMF compliance is a separate issue all together.
 
justwaiting         TY ~ !!
 
Mike  Moderator   I don’t see them getting out of Chapter VII until they satisfy their debts to the Kuwaiti’s, it’s clear those folks want their money, they’re not going to forgo war reparations for future business opportunities.
 
Tobyboy  Mike I thought an article recently Kuwaite agree to accept 5% for next 5 yrs I could be wrong with so many articles coming out.
 
Mike Moderator  No sir, the Iraqi press were making statements that “sources” stated they were close but nothing’s changed yet. Heck, why would it? 60-70% of Kuwait is Sunni and I’m betting they’re going to hold Iraq’s feet to the fire on this one.
 
johnbob1     I just read something that says the UN security council has removed Iraq from chapter 7 to Chapter 6 it does not appear to be a huge difference from 7 other than it takes UN military action off the table if they fail to comply. I post this with reservations because I tend to believe less than 10% of the stuff I read about this country
 
Punisher       Let the details come on….
 
Kaperoni Moderator   Johnbob read the press release under UN News
 
monty.monks.007    Monty, just pull it from this site…
 
http://dinaralert.webs.com/apps/forums/topics/show/13459309-iraq-to-resume-payments-of-gulf-war-reparations-to-kuwait-u-n-
 
Kaperoni Moderator   Mike, a deal is done to pay the balance with Kuiwait.  Today’s press release concludes Oil for Food program under Chapter VII moving Iraq to Chapter VI.
 
http://dinaralert.webs.com/apps/forums/topics/show/13461312-all-measures-imposed-under-iraq-oil-for-food-programme-implemented-in-full-security-council-concludes-unanimously-adopting-resolution-2390-2017-
 
johnbob1            Thanks Kap this is great news so it looks like they are out of 7 and into 6
 
rv2017  Moderator   thank u Tgirl 🙂
 
Kw    Wow this is great news, I guess they did pull a rabbit out of the hat.
 
monty.monks.007           Thanks to you all .
 
Kaperoni Moderator      I think the references to the assets and banking accounts in significant.  This could effect the dinar.
 
Kw    I agree Kap, and if nothing else now that they have the stigma of it removed they will want to also remove the stigma of their undervalued currency. 

Punisher              Headlines clearly say businesses can feel safe now working with Iraq. This is not small news…its HUGE NEWS! Add to that Abadi has declared Iraq ISIS free on the same day…Humm. Me thinks they are serious about investment and a free market economy!
 
Imagemaker      Let’s see what they do with the whales of corruption…. hint,hnt,hint
 
Tobyboy    My thoughts Imagemaker. I don’t see Abadi arresting the big guys from his own parties, the Shia but the Kurds & Sunnis will be arrested. With the immunity these politicians have how are they going to arrest & put them behind bars the  fines they give them amounts to nothing.
 
How are they going to change the laws on corrupt when most of the politicians are corrupt when they are the ones that approve the changes in the laws. Will be interesting to see how Abadi will take out the corrupt.
 
Tfrizzel     Completely agree with you tobyboy
 
Imagemaker    Whales will be arrested and sent to international courts we shall see if the top dog goes down ,my bet is he’s hanging from a rope to show all there’s a new sheriff in town
 
http://dinaralert.webs.com/apps/forums/topics/show/13461306-specialist-iraq-s-exit-from-chapter-vii-paving-the-way-for-a-safe-area-for-business-and-investment


DR. CLARKE
Ray's Rap Session (Notes by Adept1 & Sunny)