An invitation to support the dinar and the strengthening of its purchasing power


3/1/2017 0:00


BAGHDAD / Mustafa Hashimi

strengthening of the local currency is a national task they represent the sovereignty of Iraq and preservation of state stimuli represents a great responsibility lies with the relevant authorities in the light of a series of challenges taking place in the country.

Economic academic Dr. Essam Mahouelle called to be 2017 years to strengthen the dinar ‘s purchasing power and strengthens confidence in the national currency , which represents the sovereignty of Iraq, noting at the same time the need to restrict foreign business dealings only in dollars.

And ways to revive the dinar and upgrade more than its value saw Mahouelle in an interview {Sabah »necessity of things , management of the country economic mentality and purely look long – term, along with the importance Quote economic experiences of states have passed similar circumstances to what Iraq is going through, as well as the reduction of trading the dollar in commercial transactions Interior to support the national currency.

Mahouelle be regulated by the Central Bank and coordination with economic authorities and relevant ministries confirmed role in enhancing the value of the dinar by preventing the circulation of foreign currency in the local commerce for any reason whatsoeverand counted only in foreign trade, indicating the importance that civil and government banks take measures that will strengthen the dealing in Iraqi dinar .

It is said that the sale price of the dollar on Monday amounted to 1310 dinars, ie 131 000 dinars, for a hundred dollars, while the total purchase price in 1300 dinars, ie 130 000 dinars, for a hundred dollars.

Mahouelle said that the decline in the value of the dinar against the dollar, in fact, began the war with Iran and the invasion of Kuwait, stressing that the policies of the former regime burned all the hopes of Iraqi economists to amend the path of the local economic situation and guide the country ‘s resources towards development.

He said, since the nineties of the last century and the days of international sanctions and the dollar dominates the local market transactions away from the dinar as a result of faulty economic policies pursued by the former regime.

He pointed out that when the prices of imported goods began to rise, Iraqis felt that the old price of the dinar against the dollar has fallen so much and began to think of what has become and find solutions to them.

The dollar exchange rate against the dinar has fluctuated between ascending and descending was reported in the nineties about 4000 dinars to the dollar, while the price has seen a gradual decline after 2003 to continue to decline to 1,200 dinars to the dollar in the last ten years, while he returned to rise again after the adoption of the budget in 2015 and forcing the Central Bank identifies sales of foreign currency in accordance with Article 50 of that year ‘s budget law.

Mahouelle explained that the International Monetary Fund and the post – World War II division of the world ‘s currencies to be and are non-transferable and was part of the Iraqi dinar currency is convertible.

He said the convertible currencies suitable for international settlements (ie to settle payments in foreign trade of the countries), has been preparing a list of those currencies represented currencies the victors in World War II, and did not include the Soviet bloc currencies at the time because of the approach is capitalist in the conduct of its economy and the economies of countries that fall under its control.

He said either the Iraqi currency was within the currency is convertible which can not be used for international settlements , but turning it into another currency, or to the dollar (Oogerh), and goes to Iraq to be paid the proceeds of the sale of oil to the US dollar and that the equivalent of the dinar to $ 3.32.

He said that Iraq, which reached a population of 8 million people, citizens did not know a dollar coin and Ashklh did not deliberate it within the borders of the country at all, as hard place to find a store, in that era, displays his goods are priced in dollars.

He Mahouelle at the conclusion of his speech that traders importers of goods (commercial / industrial / agricultural) were turning the dinar to the dollar when paying their price through banks, where the audience did not feel the importance of the US currency , but when traveling abroad and are turning to banks turned them dinar to the dollar and give them foreign currency in cash or travelers instruments after the central bank ‘s approval and under the foreign exchange law.



Iranian official: Economic relations between Iran and Iraq are excellent


BAGHDAD / January / Arna- 3
Description Minister of Industry, Mines and Trade Assistant Iranian Mojtaba Khosrow Taj, economic relations between the Islamic Republic of Iran and Iraq during the last three years it has been excellent.

In a statement to the correspondent of the agency ‘IRNA’ in Baghdad, on Monday, he described Khosrow Taj relations between Iran and Iraq that it does not compare with other countries, and pointed to the Iranian ambassador told about the transit of export goods and to enter the stage at the stage of joint investments and promoting partnership projects, hoping that goes relations between the two countries in the new track after addressing the Iraqi financial constraints and the removal of existing obstacles.
According to Minister of Industry, Mines and Trade Iranian assistant that the annual rate of exchange between the two countries is between 6 and 6.5 billion dollars, he said, that the volume of trade during the first nine months of the year (Iran’s) current (appeared in the March 2016 20) rose by 5 percent in terms of value compared with the same period last year, while this that these figures only include trade and does not include technical and engineering services which, if calculated, the figure will rise to about $ 8 billion.
He stressed that the value of trade relations between Iran and Iraq is that it has maintained its position and size of the exchanges during these years, at a time when Iraq is fighting a war against Daesh and lower imports and the financial crisis is going through.
Referring to his meetings with the Ministries’ trade ‘and’alsnaah and minerals officials’ Aerakitin said that during these meetings, research on the needs of Iraq and ways to develop relations between the two countries.
He noted Iraq’s new approach to the trend towards industrial development, he added, that the Iraqi side expressed willingness to cooperate in areas such as the establishment of Alsellohat, update and provision of machinery and related equipment as well as home appliances and construction materials sector.
He said Khosrow crown to the Iranian delegation held within the meetings of two meetings, one series with the public sector and the second with the private sector in Iraq, where he has two study problems and obstacles to cooperation and added that one of the fundamental problems in the relations between the two countries is in the field of banking services.
He said, that during the meeting, which was held in the afternoon (on Monday) Representation of National Bank official feet (Melli) Iranian explanations for the participants in the meeting on ways to take advantage of the private banking capabilities in the context of the opening of ‘LCD’.
It ended in 2342 **


Turkish Prime Minister to visit Baghdad next Thursday


History of edits:: 01/02/2017 20:5913 visits readable
{Baghdad: Euphrates News} intends to Ben Ali Yildirim Turkish Prime Minister, made an official visit to the Iraqi capital Baghdad on January 5 to 6 this month.
According to sources in the presidency of the Turkish Minister Yildirim will visit the Irbil province along the Iraqi capital Baghdad.
The Prime Minister Haider al – Abadi and Turkish President Recep Tayyip Erdogan, discussed several days ago by telephone on bilateral relations between their two countries, and stressed the need to continue to work together to confront all terrorist organizations, and not to allow terrorism to destabilize the region.
Also discussed the visit to be conducted by Yildirim to the capital , Baghdad, and made it clear that it will be an important opportunity to exchange views, strengthen relations Inaiah.anthy

US Embassy: terrorist bombings a failed attempt to divide Iraq


History of edits:: 01/02/2017 20:1849 visits readable
[Oan- Baghdad]
promised the US embassy in Iraq, the terrorist bombings in the capital Baghdad and Najaf, ” a failed attempt to ” divide the country.
According to an embassy statement received by all of Iraq [where] a copy of it, denouncing “strongly and the recent terrorist attacks in Baghdad and Najaf.”
The statement added , “We extend our condolences to the families of the victims and call for a speedy recovery for those injured , ” he said . “This will be crowned cowardly attempts to divide Iraq to fail at a time when the Iraqi people , the year 2017 will begin to stand united in the face of this barbaric violence.”
The US embassy ” The United States renewed its commitment to support all of the government and people of Iraq in their struggle against terrorism.”
The capital Baghdad witnessed on Monday, a series of explosions of car bombs and roadside bombs have killed and wounded dozens.
Najaf province also saw yesterday three terrorists attempting suicide bomber riding a wheel they tried to enter the city through one of Sitarat hand Qadisiyah south of the province to launch asuicide attack and the bombing of the wheel within the province.
Security services engaged from Manathira police the bombers strongly and got clashes with armed terrorists , police and managed to destroy the wheel and burned and killed them, and resulted in theassault on the seven dead, including five policemen , among them a captain and two civilians and 15 wounded.
And adopted a terrorist gangs Daesh bombings.

Iraq repaid $ 560 million of the company “Hanwha” Korean implementing residential project Basmajh



City residential Basmajh


Author: HAA
Editor: BK
1.2.2017 20:29
Number of Views: 26


Long-Presse / Baghdad

Korean newspaper revealed on Monday for Iraq to pay $ 560 million for the company, “Hanwha” implementing the project Basmajh residential, while the company is likely to implement more projects in Iraq, with the imminent defeat (Daesh) and high global oil prices.

The JoongAng Daily Korean newspaper, in a report today, I followed (range Press), “The Hanwha Engineering Construction, reconstruction, implementing the project Basmajh residential, received their wages unpaid in the amount of 560 million dollars,” noting that “the Iraqi government made the payment to the company week the past”.

The newspaper quoted a spokesman for Hanwha Corporation, as saying that “the payment of wages shows the Iraqi government’s determination to go ahead with the project,” predicting that “the Iraqi government’s progress in more orders for infrastructure projects and reconstruction, under the direction of the war in the country towards the truce, and the continuing high prices oil. “

The speaker’s opinion, that it is “sure to win the company Hanwha further requests from the Iraqi government because of the foundations of mutual trust built between the parties.”

The amount of Al560 million dollars, to compensate for the wages have not been paid since the start of the project to establish operations in 2012.

And oversees the Korean construction company Hanwha, the reconstruction of a new residential city in Basmajh district, (10 km) southeast of Baghdad, at a cost of ten billion and one hundred million dollars, the largest project handled by the Korean company-wide external work, and is expected to be completed during the year 2019, where It includes 100 thousand housing units as well as other service facilities attached to the project.

The Iraqi government has proceeded to pay wages in the form of payments, but the difficulties faced by the war against the (Daesh) and falling oil prices, prevented repaid on time.


“Central Iraq” supports the currency delete the “zeros” dinar


Revealed on the Keywords Governor of the Central Bank of Iraq to delete the zeros of the Iraqi currency, he began to develop the first steps of the support of the Iraqi dinar project.
Keywords and said in a statement, said that the aim of the deletion of three zeros is to support the Iraqi dinar, and make it a competitor to foreign currencies, pointing out that this strategic project will serve the country ‘s economy, as the dinar will be included in the global basket of currencies in the vital exchanges. He added that the bank is working on mechanisms for the implementation of the project, it is expected to start at the beginning of 2017. He pointed out that the introduction of the new currency does not mean the destruction of ancient coins, but will continue to trade for about 10 years.


An emergency security meeting in Baghdad, and keep an eye out for the crucial decisions


اجتماع أمني طارئ في بغداد وترقب لقرارات حاسمة

Baghdad Aktham Saifuddin

January 2, 2017

Live Iraqi capital Baghdad , a security setback serious in light of the escalation of violence and explosions continued for several days, while the applied silence on the security authorities which failed even to condemn and denounce such acts, at a time when waiting for an emergency security meeting for security leaders to make decisions and was described as “important” .

An officer in the Baghdad Operations Command, for “new Arab”, ” The security setback experienced by the capital does not assume responsibility on the one hand, but that is the responsibility of everyone , ” noting that “operations command informed the Prime Minister Haider al – Abadi, that has no choice but to tighten security measures. “

Operations Command informed thePrime Minister Haider al -Abadi that has no choice but to tighten security measures

He said the officer, who requested anonymity, that “the leadership responded to the book inquiry from Abadi, that leadership and put the necessary plans, but they do not have modern equipment. The intelligence dimension is weak, and that these causes are malfunctioning president in the work of the security system, there is no the ability to cope with a failed detection of explosives. “ And that “s supervised by the prime minister directly, and that plans are informed by the aphid, but there are political and partisan views are trying to shed all responsibility rests with the leadership of operations.”
He also pointed out that “it is scheduled to be held Abadi , on Thursday evening, an emergency meeting with the leadership of operations, to discuss the reasons for the security setback, and to take urgent solutions and important decisions in this regard , ” pointing out that “Operations Command has prepared a comprehensive study of the security file, and identified weaknesses and shortcomings points borne by the leadership, which is borne by other parties, as well as developing the required solutions, and will submit them to the meeting to take the appropriate decisions by Abadi. “

According to the officer, “Today has been the security measures doubly intensify in sensitive areas in Baghdad, and put the stationing points near markets, areas where significant commercial traffic.”
For its part, criticized the factions Mlaxiaoah security setback in Baghdad and a number of areas, and demanded to “develop a plan to go after the sleeper cells linked to al Daesh.”

The militia nujaba, in a press statement, said that “sleeper cells are active from time to time in some areas, requiring the need for security practices in those shady areas, and no negligence in this matter in order to protect the lives of citizens.” And it called on the security agencies to “increase the momentum of the security measures in the affected areas.”

And, following the bombings, since this morning, because “after the bombings that took place on the day stretch, exploded on Thursday evening, a car bomb was parked near the shops in the Zaafaraniya district, east of Baghdad.”

The security source said, for “the new Arab”, that “the bombing inflicted four people dead and eight wounded at least,” adding that “suicide last followed in the Ghazaliya district, west of the capital, perform an improvised explosive device placed near the shops, I have hereunto two dead and three wounded.”

The source pointed out that “the markets and commercial areas across the capital, very weak movement recorded on Thursday evening, while there is a situation of fear and horror of the occurrence of other bombings.”

And these explosions come at a time when violence has escalated since several days in Baghdad and other areas outside, and announced the “Islamic State” (Daesh), claimed responsibility for the bombings, which have caused dozens of deaths and injuries of civilians and security forces.


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