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Tag: Iraq Crisis

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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Iraq Achieved Standard Level of Oil Exports in June

Iraq Achieved Standard Level of Oil Exports in June

On Sunday, the Iraqi Oil Minister Adel Abdul Mehdi issued a statement that Iraq has crossed its standard oil export level in last month of June. It is also indicated that the next heavy launch in Basra oil destroyed the limit of quantity to maintain the Iraqi oil quality. Mehdi further added in a press statement that Iraq has destroyed its standard limit of oil in the last month of June with fifth continuous month. He also pointed out that…

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CBI Approved for Adding 14 Excluded Banks for Foreign Currency Auction

CBI Approved for Adding 14 Excluded Banks for Foreign Currency Auction

On Thursday, the Iraqi Banks Association issued a press statement that the Iraqi Central Bank has approved to bring in all 14 banks which were left out in cold for currency auction. The statement also indicated that the Central Bank of Iraq has implemented most strict terms and conditions. The Executive Director of the Association Dr. Tariq issued a press statement that the Central Bank of Iraq has taken a decision about few days ago and stopped the 14 Iraqi…

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Cash Reserves of Central Bank of Iraq Decreasing: IMF

Cash Reserves of Central Bank of Iraq Decreasing: IMF

The Iraqi Central Bank confirmed the stability and said that its foreign reserves approaching at 76.3 billion U.S dollars and it is much better figure which showing the capability of Iraq to handle the consequences regarding lower oil prices. The Central Bank of Iraq is managing very well despite the weakening global oil prices. The CBI has announced that its cash reserves will rise up to 70 trillion Iraqi dinars at the end of 2015. A number of factors involved…

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Seminar Held for Adoption of International Accounting Standards

Seminar Held for Adoption of International Accounting Standards

A seminar held on the importance of the adoption of international accounting standards to get the financial stability. This seminar was organized by the Iraqi private banks association and it was attended by the Governor of the Iraqi Central Bank. The private banks association in Iraq has shown that due to an increase in the number of joint stock companies, a number of international standards have been adopted. The existence of a number of insurance companies are being attached with…

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CBI Mafia is Behind the Rise in U.S Dollar: Chenkali

CBI Mafia is Behind the Rise in U.S Dollar: Chenkali

Iraqi Dinar 123 News: – Chenkali Majid, the MP of Kurdistan Alliance said that there are mafias inside the Iraqi central bank structure which is operating the U.S dollar exchange rate in the local market and it is a major factor behind the rise in the U.S dollar exchange rate against the Iraqi dinar. He further said that the Iraqi government should speed up their work for the development in the Iraqi banking and Industrial sectors, especially when there is…

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Iraq Should Get Help from IMF to Meet Financial Crisis

Iraq Should Get Help from IMF to Meet Financial Crisis

Iraqi Dinar 123 News: – The Parliamentary Finance Committee member Ahmed Sarhan issued a statement that Iraq should take advantage of Iraqi membership in the International Monetary Fund (IMF) by getting provision of extension to meet the challenges of financial crisis, expenses on war against terrorism and Daash militants and economic crisis after a huge downfall in the global oil prices. He further added that Iraq should generate a request to the International Monetary Fund to help Iraq in preventing…

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Iraq is Still Losing 150 Million Dollars per Day

Iraq is Still Losing 150 Million Dollars per Day

Iraqi Dinar 123 News: – On Saturday, a famous economic expert said that Iraq is losing more than 150 dollars per day. The main reason behind this factor is that Iraqi government is focusing to reinforce the Iraqi private sector and unwanted increase in imports. He also stressed that there is a must need for the Iraqi government to overcome the Iraqi economic crisis. The Iraqi economy needs improvement in its oil exports and Iraqi oil wells producing more than…

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