Central Bank: Our financial situation is good for four years to come even as oil prices do not recover

 

2017/07/31 (00:01 PM) – Number of readings: 712 – Issue (3983)

 Baghdad / Zahraa al-Jassim

The central bank explained that the reserve of gold that it has, is part of the cover of the national currency, and its function is not the transition time hard to dollars to strengthen the budget as some believe, and stressed by saying, it is not practical to liquidate that reserve and convert it to the dollar in front of any financial problem passes Said that even if Iraq does not recover oil prices, its financial position will be good for four years to come. An economist confirmed that the central bank has good reserves and does not raise the burden of deductions from the citizen, as some believe, indicating that the reserve is used to finance imports. Not for domestic spending This is the case in all countries of the world.
“Iraq is not the fifth country in the gold reserves,” says Ihsan Shamran, director of the Treasury and Issuance Department. “The central bank has built the gold reserve, which now has about 89 tonnes of gold as part of the national currency cap, “When we say that the source of the circulation amounted to” such “billion of the Iraqi dinar, I mean that this source is supported by the dollar and gold as well as the rest of the bonds and others, and here may be liquidated this Reserve any transfer to liquid funds from the dollar in front of any A difficult problem in the country, especially as his job to support the Iraqi currency and make it a very strong currency, thanks to the presence of cash reserves of the dollar and another gold.
“This is also a reserve for international financial organizations in a good position as well. Iraq is known and calculated now what is its financial and economic situation. Even the financial problem is now an emergency and it will be overcome and the Iraqi economy will recover. At a safe level, and Iraq in the next four years and with bad oil prices will be an excellent financial situation, but if oil prices recover, the central bank will return to build reserves of the dollar. The veteran economist Ahmed Barihi, in an interview with (the extent), that Iraq does not need to turn the reserve of gold into a difficult currency, it has enough foreign exchange reserves, and there is a good amount of them now in the Central Bank, and that Iraq does not need To the use of gold, but on the other hand, the existence of reserves of the central bank is good does not raise the burden of deductions from the citizen as some believe, because this reserve is used to finance imports and not for domestic spending, continuing: Usually reserves of the Central Bank of Iraq and in all countries of the world , Used for external payments and not for payments The citizen must know that the foreign currency is used for foreign payments and not for the citizen. The latter must know that, because the newspapers and economists are deceived this fact in the minds of people until there is confusion between the reserves of the Central Bank and the budget, which is a mistake. At a time when it was necessary to focus on the currency used for payments and in all countries of the world, and has no other job, and here the budget is a revenue and expenses and the Central Bank another institution.
Breihi had earlier pointed out that while we are ranked fifth in the global gold reserve, it is useful, especially since gold reserves can be converted into anything else, and the central bank can at any moment convert them into Foreign currency and used in international transactions or re-investment in the international market, which is certainly a good treasure because gold is a means of conservation value and central can convert this gold to foreign currency and uses this currency for the purposes he wants either to finance foreign trade or to invest the amount in the financial market International And to pay off debts.
The Central Bank of Iraq announced on 16-7-2017 that the bank’s gold reserves are 90 tons and it occupies a high international ranking. The total gold reserves in the bank is 90 tons, thus it occupies the 37th position globally and the seventh in the Arab world. The Central Bank of Iraq gold in 2012 was only 30 tons, but it has reached three times now, at a time when the World Gold Council announced the rise of the world’s reserves of gold in the month of February, noting that Iraq has maintained the fifth rank of Arab reserves.
The governor of the Central Bank Ali Alalak, announced on 11/5-2017, the increase in foreign exchange reserves of foreign currency than in 2016, stressing the rise to 49 billion dollars.

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The Nineveh Operations Commander expects an easy victory over the “duel” in Tal Afar

– 7/31/2017 9:19:00 AM31 Number of readings

 

Khandan-

The commander of Ninewa operations, expected the security forces to achieve an easy victory in the next battle to regain Tal Afar, the bastion of the terrorist organization, “because there are about 2,000 armed men suffering from stress and low morale.

Less than a month after the announcement of victory in the city of Mosul, Iraqi forces are preparing to attack Tal Afar, about 40 km west of Mosul, in what will be the next big battle against “Daash.”

“The battle of Tal Afar is what I thought would be a big and complicated battle, I do not think … The enemy is exhausted, the enemy has been besieged for a long time, it receives daily strikes by night and day,” Major General Najem al-Jubouri said in an interview with Reuters. By coalition forces or by the Iraqi air force. ”

“The battle will be simple compared to the heavy fighting to restore Mosul, which lasted nine months.

“I know through intelligence reports that their morale is in the bottom and they are also trying as hard as possible to escape from Tal Afar by all means,” said Jubouri, who was mayor of Tel Afar when gunmen stormed it more than a decade ago.

He estimated that there are between 1500 and 2000 elements of “Daash” in Tal Afar. This figure may include some members of their families who support them. “Through aerial surveys, we are using some information because they are preventing civilians,” he said. “It means that no one is photographing their areas, but I imagine that there are more than 1,500 to 2,000 armed men.”

He said that this is a large number but the terrain of the land in favor of Iraqi forces.
The Saray district of Tal Afar is similar to the old city of Mosul, where Iraqi forces had to walk on narrow streets. The rest of Tal Afar can be moved with tanks and armored vehicles.

In contrast to Mosul, where hundreds of thousands of people were held hostage to slow down the advance of Iraqi forces, Jubouri said there were still a few civilians in Tal Afar, except for the families of Da’ash.

Jubouri said Iraqi forces were expected to face bombings, snipers and mines. He added that although terrorists were trapped, there were no signs of diminishing stockpiles of ammunition.

“Many Turkomans, who are members of the Ta’if community, have managed to escape among the displaced civilians and have fled to Turkey, where they can be integrated into their population without being noticed,” he said.

Jabouri believes that among the remaining elements of the “da’ash” are many foreigners from Turkey, the former Soviet republics and Southeast Asia, who say they are trapped after Iraqi forces cut off all roads between Mosul and Tal Afar this year.

The chief of Nineveh operations, all that remains is to receive orders from Iraqi Prime Minister Haider Abadi to carry out the attack, perhaps within days, a week or two.

The next battle to recapture Tal Afar has echoes of the past. When the United States reduced the presence of its troops in northern Iraq after the war, the gunmen seized the opportunity and captured most of Tal Afar in 2005.

Jabouri, who was then mayor of Tal Afar, took refuge in a 16th-century Ottoman castle that dominated Over the city from a hilltop in the center of the city as Iraqi forces and US troops led by Colonel HR McMaster hit the insurgents.

Stability in the city was achieved and McMaster’s approach was seen as a blueprint for a successful strategy to tackle insurgents. But in the years that followed, Tal Afar plunged into sectarian violence again and the militants gained a foothold again.

Jubouri said he had met with McMaster, who is currently US national security adviser about a month ago and that they discussed the Tal Afar issue. He said the situation was different compared to the previous battle in the future battle.

He said the “enemy” was a bigger enemy than al-Qaeda, but Iraqi forces had gained experience in the three years in which they fought.

http://www.xendan.org/ar/detailnews.aspx?jimare=10852&babet=74&relat=8030

New US consul in Basra: eager to share trade

 

Date of release: 2017/7/31 20:31 • 78 times scheduled

[Ayna-Baghdad] The
new US Consul General [Timy Davies] received work assignments at the US consulate in Basra province, replacing former Consul [Wayne Dayton].

“The local government of Basra aspires to increase cooperation with the United States,” Basra Governor Majid Nasrawi told a news conference after the new consul’s visit to the local government on Monday.
He said that “the meeting discussed the opening of prospects for cooperation and in many aspects, including health, agriculture and education, as well as the political side, especially with regard to the upcoming elections.”
“The US consulate has an idea to invest in tourism in the marshes after its accession to the World Heritage List, as well as investment in agriculture and education,” Nasrawi said.
For his part, said the new Consul Timmy Davis, the US consulate is eager to participate in increasing trade and joint work between the two countries.

http://www.alliraqnews.com/modules/news/article.php?storyid=64376

Prime Minister Nguyễn Xuân Phúc delivers his speech at the second Việt Nam Private Sector Forum.

— VNA Photo

Viet Nam News

HÀ NỘI — The private sector is an important driver of economic development, Prime Minister Nguyễn Xuân Phúc said at the second Việt Nam Private Sector Forum held in Hà Nội today.

Speaking at the event organised by the Việt Nam Young Entrepreneurs’ Association and the Mekong Business Initiative, the PM said the Government is well aware of the role of the private sector, which was highlighted in the 12th Party Central Committee’s fifth meeting Resolution.

Reiterating the Government’s goal to enable the sector, Phúc said the endeavour is to remove all barriers, while creating the most favourable conditions for the growth of the private sector. He quoted a World Bank representative saying: “Việt Nam has a bright future thanks to the private sector and its people.”

Government conferences and dialogues have spent a lot of time discussing problems that the private sector encounters, he noted, adding that the Government has pushed ahead with institutional reforms to improve the business environment and facilitate business operation.

The PM encouraged the business community to raise its voice and help the Government boost the economy.

Trương Gia Bình, chairman and CEO of technology firm FPT Corporation, said that if favourable steps are taken for private enterprises as per Government policies, the private sector’s growth will rise from 15 per cent to 50 per cent in the future.

A survey done before the forum opened indicates that 65 per cent of the businesses surveyed expressed hope for an action-oriented Government.

The other key topics discussed include action programmes for the digital economy, agriculture and tourism. — VNS

Read more at http://vietnamnews.vn/economy/381126/private-sector-vital-for-fuelling-economy-pm.html#5M9ODaZizebqpHrt.99

 

Alliance looks for evidence to prove the death of al-Baghdadi

 Twilight News    

 52 minutes ago

The coalition commander and the United States can not confirm the allegations and reports that the leader of the death of Abu Bakr al-Baghdadi, said coalition spokesman Colonel Ryan Dillon.
He added that Russia spoke at the outset about the possibility of the death of Baghdadi and then returned and confirmed his death, but where is the evidence, pointing out that he is still alive and the military experts in the coalition are always follow the leaders of the raucous and when found them are bombed on Alf.
The Russian Foreign Ministry has announced the death of the leader of the preacher Abu Bakr al-Baghdadi and said it confirmed by nearly 100% of his death without revealing evidence to this so far.
Ryan Dillon “many reports talked about the death of al-Baghdadi, but we in the coalition forces and the United States can not confirm these allegations, we will keep on any kind of confirmation until we get evidence to confirm the killing of 100% Baghdadi.
At first the Russians announced that they might have killed Baghdadi and then said they had killed him. But where is the evidence? We, as an international coalition, can not confirm this, and without showing us evidence of the killing of Baghdadi, we can not confirm it. Now it is still alive, and we have experts and professional military personnel in the international coalition forces who always follow the leaders and when they are found they are immediately bombed. ”
The Syrian Observatory for Human Rights said earlier that he had received confirmed information about the killing of al-Baghdadi, while the Pentagon denied in a statement A journalist to have information about his death, pointing out that al-Baghdadi is alive, he is expected to be unable to influence what is currently going on in the tenderness or Iraq or in the organization generally calling for the continuation of the loss of their controversial struggle, but added that there is no concrete evidence of what Whether alive or dead. We, as an international coalition, can not confirm this, and without showing us evidence of the killing of Baghdadi, we can not confirm this. Now it is still alive, and we have experts and professional military personnel in the international coalition forces who always follow the leaders and when they are found they are immediately bombed. ” The Syrian Observatory for Human Rights said earlier that he had received confirmed information about the killing of al-Baghdadi, while the Pentagon denied in a statement A journalist to have information about his death, pointing out that al-Baghdadi is alive, he is expected to be unable to influence what is currently going on in the tenderness or Iraq or in the organization generally calling for the continuation of the loss of their controversial struggle, but added that there is no concrete evidence of what Whether alive or dead. We, as an international coalition, can not confirm this, and without showing us evidence of the killing of Baghdadi, we can not confirm this. Now it is still alive, and we have experts and professional military personnel in the international coalition forces who always follow the leaders and when they are found they are immediately bombed. ” The Syrian Observatory for Human Rights said earlier that he had received confirmed information about the killing of al-Baghdadi, while the Pentagon denied in a statement A journalist to have information about his death, pointing out that al-Baghdadi is alive, he is expected to be unable to influence what is currently going on in the tenderness or Iraq or in the organization generally calling for the continuation of the loss of their controversial struggle, but added that there is no concrete evidence of what Whether alive or dead.

http://www.shafaaq.com/ar/Ar_NewsReader/091e0f54-e3e4-4abb-ad4c-9d82dd4b4c80

Iraqi official: 60 countries promised to take part in reconstruction

 Twilight News    

 one hour ago

An Iraqi official said that 60 countries promised to participate in the reconstruction of areas affected by military operations against Daqash.
“We have been able to get real promises from 60 countries to participate in the reconstruction campaign,” said Mustapha al-Hiti, head of the fund for the reconstruction of the areas affected by terrorism, adding that “Kuwait has announced its readiness to host the donor conference on its soil.”
He explained that “the Fund met a call from the World Bank to discuss the reconstruction of areas affected by terrorism in the US capital Washington on the tenth of this month in the presence of nearly 35 countries.”
He pointed to the readiness of about 60 countries for the reconstruction of Iraq, depending on the types of participation, whether money or the entry of companies and others.
This comes at a time when the Ministry of Construction, Municipalities and Municipalities in cooperation with the World Bank to implement projects to rehabilitate the destroyed bridges in the liberated provinces, as well as the implementation of projects to provide water, was agreed with a Korean company to implement low-cost housing units in those areas.
the morning

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Vietnam has first credit rating company

 

Update: July, 31/2017 – 16:03

HÀ NỘI – The Sài Gòn Phát Thịnh Joint Stock Company has been licensed by the Ministry of Finance to provide credit rating services, the first of its kind in Việt Nam.

Credit rating is common in many countries around the world, aiming to supply transparent information for investors and businesspeople.

It is meant to support the stock and bond markets, improve transparency, promote capital mobilisation via the stock market and protect investors’ rights.

Vietnamese enterprises usually have their credit rated by global credit rating agencies such as Standard & Poor’s and Moody’s Investors Service. – VNS
Read more at http://vietnamnews.vn/economy/381140/vietnam-has-first-credit-rating-company.html#8SqEru2x0bffC9MH.99

 

 

Basra discusses the withdrawal of the petrodollar and talking about recommendations with Baghdad

 

Economy

Monday 31 July 2017 11:25 am

| Number of readings: 215

BAGHDAD / The Basra provincial council discussed on Monday the latest amendment to the federal budget law for 2017 and the proposal to cancel the paragraph petro-dollar from the budget.

The head of the Planning and Follow-up Committee in the Council, Nashat al-Mansouri told “Iraq News” that “the Basra Governorate Council, discussed with a number of deputies for the province and in the presence of Governor Majed Nasrawi, the latest amendment to the federal budget law for 2017 and the proposal to cancel the paragraph petro dollars included in the budget” Noting that “the federal government deal with the receivables of the province of Basra is not consistent with the city’s offers of sacrifices and sacrifices, and we are surprised by what is being treated by the ministries concerned with the file of financial benefits and administrative powers of the province.”

He added that “the cancellation and zeroing of the account of the province of petrodollar funds, is contrary to the law of 21 and is not consistent with the amount of the city’s contribution to support the federal budget,” adding that “the meeting, came out with a set of recommendations, including the formation of a joint working group includes a group of specialists and members and deputies to follow the benefits The province with the federal government. “

The head of the parliamentary legal committee Mahmoud al-Hassan, said earlier that the draft supplementary budget law for the current year and set by the federal government and voted by the parliament was free of paragraph e of the first article on the oil revenues of oil producing provinces (petrodollar), which existed originally In the draft budget of 2017, noting that the re-work of that paragraph in the supplementary budget needs to understand the differences between the local government of Basra and the federal government.

 

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URGENT : Terrorist attack on Iraqi embassy in Kabul ends and staff evacuated

 

Release date: 2017/7/31 15:45 • 151 times scheduled

[Ayn-Baghdad]
The Foreign Ministry announced the end of the terrorist attack on the Iraqi embassy in Kabul.

“The end of the terrorist attack targeting the Embassy of the Republic of Iraq in Kabul and the evacuation of the staff members who fought inside it are in good health,” State Department spokesman Ahmad Jamal said in a brief statement received by the Iraqi news agency.
The ministry earlier announced the evacuation of the charge d’affaires of the Iraqi embassy in Kabul to the Egyptian embassy.
Two terrorists attacked the Iraqi embassy in the Afghan capital Kabul after a suicide bombing outside the gate of the building near a police security center in the city’s Shahr No neighborhood. is over

http://www.alliraqnews.com/modules/news/article.php?storyid=64367

Siliman ‘s economy visits Falluja to rehabilitate infrastructure

 

 

 Twilight News    

 2 hours ago

The US ambassador to Iraq, Douglas Silliman, confirmed the US government’s support for efforts to stabilize Falluja.
This came on the sidelines of his visit to Fallujah, and his meeting with the governor of Anba Suhaib Rawi.
The embassy said in a statement to Shafak News that it had funded and rehabilitated the main water treatment plant through the United Nations Development Program (UNDP) and provided medical equipment for seven health centers and the rehabilitation of 20 schools.

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