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Category: Opinions

Is Borrowing $31 Billion from CBI Legal?

Is Borrowing $31 Billion from CBI Legal?

One Saturday evening, the Iraqi Parliamentary Finance Committee issued a statement that the government of Iraq has planned to utilize CBI reserves and borrowing $31 billion from the Central Bank of Iraq. A member of the finance committee, MP Haitham Al-Jubouri said in a press statement that Iraqi Central Bank law in force No. 93/ 2005 engages. This Act prevent Iraqi government for not to borrow from the Iraqi Central Bank. He also pointed out that Iraqi government has obtained…

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Iraq Should Take Major Steps to Manage Economic Crisis: IMF

Iraq Should Take Major Steps to Manage Economic Crisis: IMF

The Iraqi economy is mainly dependent on the growth of Iraqi oil production. The growth rate of Iraqi oil exports has been increased and it is showing an image of the available opportunities towards the development of Iraqi economy. Iraqi economy is improving significantly and most of the economic experts predicted that Iraqi economy would get a place in the list of global economies very soon. The Head of IMF mission Mr. Sider Alevic said in an interview pointing out…

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IMF Warned to Take Major Steps to Reduce External Financial Differences

IMF Warned to Take Major Steps to Reduce External Financial Differences

The International Monetary Fund warned the world economies to take major steps in decreasing the external overabundance of financial differences. It is most important in improving the financial status for reliable global growth and maintaining stability financially. The First Deputy Director of International Monetary Fund David Lipton also added in a debated about report for external sector 2015. He released a statement about the latest developments and measuring the attitudes of foreign economies. He also added that we have found…

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CBI Announced Date for Auction Sales of Foreign Currency

CBI Announced Date for Auction Sales of Foreign Currency

The Iraqi Central Bank issued a press statement that Central Bank would start next live auction sales of foreign currency on 4th August 2015. According to our authentic source from the Central Bank said that next session for the auction sales of foreign currencies will take place in the first quarter of the next month according to defined plan by the Central Bank. Source further added that we are expecting that maximum companies will participate including some government agencies will…

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Companies Looking More Suitable Environment for Investment in Iraq

Companies Looking More Suitable Environment for Investment in Iraq

Economic Experts warned that the provisional stoppage of tax would be a stronger benefit for tax elusion. It would also allow engaging the taxable projects in economic cooperation with the excused in shifting profit projects using based prices of shared conversion as the payment price was fabricated evaluated with the purchased Items from the other companies. It was then rediscovered as masquerading payments and most of the companies have shown their expertise to find multiple ways in getting around the…

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Iranian New Nuclear Agreement Would Reflect Positive Impact: Adviser to PM

Iranian New Nuclear Agreement Would Reflect Positive Impact: Adviser to PM

On Wednesday, the Economic Affairs Adviser to the Iraqi Prime Minister Muhammad Saleh issued a press statement that new Iranian agreement would not reflect a negative impact on the oil prices, especially when we consider about the Iraqi oil exports. Muhammad Saleh further added that after finalizing the agreement, the Iran will be able to export its oil liberally. This agreement would not reflect any impact on Iraqi oil prices. Point to be noted that the total worldwide oil production…

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Iraqi PM Met with World Bank to Support Iraqi Private Sector

Iraqi PM Met with World Bank to Support Iraqi Private Sector

The Iraqi Prime Minister Haider Al Abadi fatigued the importance in generating job opportunities in many sectors in order to take up the unemployment momentum. The strength of mind of Iraqi government is not to focus only on petroleum products, but we need to execute with new mechanisms to support the Iraqi private sector. The Iraqi Prime Minister met with the World Bank’s Regional Director Farid Belhaj and fatigued the importance of creating new jobs in a number of different…

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CBI’s Monetary Policy is Important to Develop the Production Sector

CBI’s Monetary Policy is Important to Develop the Production Sector

Adopting the monetary policy by the Iraqi Central Bank would move Iraq to empower the Iraqi production sector and using these methods implemented by the Central Bank of Iraq would enhance the economy of the country. An economic expert Karim Mustafa also issued a press statement that the rise in the U.S dollar exchange rate against the Iraqi dinar would participate in increasing the import level, which would reflect a negative impact on the capability of the Iraqi local production….

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