The government is considering launching a “Daqeeq” investment program

 

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The Higher Committee for Investment and Reconstruction discussed the first meeting under the chairmanship of the Prime Minister, Dr. Haider al-Abadi, on Wednesday, launching a “precise” program to open the field of investments in industrial and service projects.
Abadi stressed, according to a statement by his office, “the importance of starting a major economic program, by supporting investment activities in various sectors, especially the productive sectors, so as to increase the performance of the country economically as our heroic forces approached the liberation of the remaining areas of the remnants of the defeated dude, Iraq’s economic standing at the international level and increase confidence in its financial and financing transactions. ”
The committee discussed the agenda of the committee, in particular the formulation of mechanisms of action and prioritization. It discussed the launching of an accurate program to open investment fields in a number of industrial, service and commercial projects, which will provide great job opportunities. Obstacles “.
The committee recommended “submitting what will be reached by a task force set up to review a number of important files in order to take appropriate decisions on them at the next meeting.”
The committee also discussed “the preparations underway to hold an economic forum in Baghdad for businessmen from inside and outside Iraq to support the reconstruction and investment movement in all governorates.”

http://en.economiciraq.com/2017/08/02/the-government-is-considering-launching-a-daqeeq-investment-program/

 

International Monetary Fund: Iraq’s debt will rise next year to 132.6 billion dollars 

Logo of the International Monetary Fund
money and business

Economy News Baghdad:

The International Monetary Fund (IMF) announced on Wednesday that the Iraqi debt during the current year is 122.9 billion dollars, expected to rise next year to 132.6 billion dollars.

The International Monetary Fund said in a press statement read by the “Economy News” after the conclusion of the second review of the performance of the Iraqi economy under the credit agreement and Article IV consultations for 2017, “The Iraqi debt during the year 2017 amounted to 122.9 billion dollars and will rise in the next year to 132.6 billion dollars “He said.

He added that “external government debt is currently 67.5 billion dollars and will be next year 73.7 billion dollars,” pointing out that “government debt constitutes 63.8% of gross domestic product.”

 

http://economy-news.net/content.php?id=8548

Advisor: Barzani in Baghdad next week

 

Political issues

Wednesday, 2 August 2017 04:39 pm

BAGHDAD / The adviser to the President of the Kurdistan region Hainam Hawrami, Wednesday, that the President of the region Massoud Barzani will visit the capital Baghdad, next week at the head of a large Kurdish delegation.

Hawrami told “Iraq News” that “the goal of Barzani’s visit to Baghdad is to discuss the issue of the referendum with officials of the federal government,” noting that “the delegation and after visiting Baghdad, will visit neighboring countries to discuss the question of the referendum.”

The adviser to the President of the Kurdistan region, “the referendum is a natural right of the people of Kurdistan and everyone to work to make it succeed, without mentioning more details.” Finished

http://aynaliraqnews.com/index.php?aa=news&id22=79889

 

Abadi is ready to launch an accurate program and open up investment fields with industrial, service and commercial projects

 

Twitter on twitter

 

Information / Baghdad …

Prime Minister Haidar al-Abadi said on Wednesday that he will launch a large economic program and support investment activities in various fields, especially infrastructure.

“The Higher Committee for Investment and Reconstruction held its first meeting under the chairmanship of Prime Minister Haider al-Abadi, and in the presence of all the members of the committee,” a statement from Al-Abadi Media Office said.

“Abadi stressed during the meeting the importance of starting a major economic program by supporting investment activities in various sectors, especially the productive sectors, so as to increase the economic performance of the country as our heroic forces approached the liberation of the remaining areas of the defeated, Iraq’s economic standing at the international level and increase confidence in its financial and financing transactions. ”

The committee discussed the agenda of the committee, in particular the formulation of mechanisms of action, prioritization, and discussed the launching of an accurate program to open investment fields in a number of industrial, service and commercial projects, which will provide great job opportunities, Before it “.

The committee recommended that “what is to be reached by a working group formed to review a number of important files in order to take appropriate decisions at the next meeting.”

The committee also discussed “preparations for holding an economic forum in Baghdad for businessmen from inside and outside Iraq to support the reconstruction and investment movement in all governorates.”

 

http://www.almaalomah.com/2017/08/02/181067/

for the first time in 10 years .. Iraq alone in the bond market

 

For the first time in 10 years .. Iraq alone in the bond market
 Twilight News    
 5 hours ago

(Reuters) – Iraq began to sell $ 1 billion in bonds in the first international debt issue it has been selling since 2006 in a bid to break decades of unrest.

Iraq, with its vast oil reserves, is seeking to attract emerging market investors with attractive profits, which will be necessary to ease concerns over the record of war and the rise of a hawkish organization.

Iraq issued $ 1 billion in bonds in January but the offer was fully guaranteed by the US government. Iraq alone this time.

A document issued by one of the banks managing the process showed that the initial indicative pricing of the five-and-a-half-year bonds is at the early 7 percent.

This level is “attractive” from the perspective of some fund managers, where it yields a good return compared to other emerging markets suffering from conflicts such as Ukraine.

The deal is expected to attract a large demand from US and European investors looking for emerging markets that generate revenue they can not get elsewhere.

Fund managers said pension funds, fund managers and sovereign wealth funds were likely to grab a good share of the issue.

Iraq needs external funding to fill a widening budget deficit as falling oil prices since 2014 and the slow pace of fiscal reforms the country badly needs to inflate the deficit to 25 trillion dinars ($ 21.44 billion) in 2017, according to the bond issue.

There are also 23.3 trillion dinars expected to be collected through domestic and external borrowing according to Iraq’s supplementary budget for 2017.

Commercial banks, bond investors and international lenders, including institutions like the IMF, the World Bank and the Organization for Economic Co-operation and Development, are expected to contribute about 11.5 trillion dinars.

The support Iraq receives from development projects financing institutions is a supposed guarantee for investors.

* Next election

When compared to countries with similar ratings at emerging market levels such as Ukraine and Ghana, Iraq has the advantage of a lack of concern about its ability to repay and substantial donor pledges for reconstruction.

Iraq has low credit risk from other similar countries but the upcoming parliamentary elections in the spring of 2018 and the subsequent political instability pose risks that will be taken into account at final pricing, fund managers said.

Iraq’s bonds may also benefit from excessive liquidity, which comes from the need for high-risk investors to get out of high-risk assets.

Representatives from Iraq made a promotional tour during which they met fixed-income investors in the United States earlier this week and also held interviews in London, Boston and New York.

Citigroup, Deutsche Bank and JPMorgan manage the process. Iraq has a B-rating with a stable outlook from Standard & Poor’s and Fitch Ratings.

http://www.shafaaq.com/ar/Ar_NewsReader/3cbddc95-02a1-4b66-a148-5c76380a9d83

 

 

US delegation to the port of Trebil in preparation for the opening of the Iraqi-Jordanian border

 

وفد أميركي بمنفذ طريبيل تمهيداً لفتح الحدود العراقية –الأردنية

A joint US delegation from the US Department of Defense and representatives of the US security firm that won the road safety contract between Baghdad and Amman for a second day in a row held extensive meetings with local officials and Iraqi army officers in Anbar province in the west of the country. Between Iraq and Jordan.

 A senior Iraqi official in Baghdad said that the American delegation began yesterday, with aerial surveys and monitoring the situation in the region in general, starting with the border with Jordan, along the international road link between Baghdad and Amman, noting that “the American company (Olive) Securing the international road, as soon as possible. “
He added that “the issue of parliament’s objection to the company, because of its true identity, and considered a copy of ( Blackwater ) notorious, will be the subject of debate within parliament and the government, as the company confirmed that it is continuing to implement the terms of the contract.”

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Video .. Tillerson: the editor of the Mosul Department appeared dodging Iraq and restored 70% of its territory

 

02-08-2017 03:23 PM

US Secretary of State Rex Tilerson said in his remarks that the liberation of Mosul broke the back of the organization ‘Da’ash’, stressing that more than 70% of the territory of Iraq has been restored, noting that ‘reconstruction of Mosul is to be carried out by the Iraqis and the international community will not be on the United States.

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