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Tag: Iraq Situation

World Bank Approved 350 million U.S Dollars for Iraq

World Bank Approved 350 million U.S Dollars for Iraq

On Saturday, The World Bank has announced that they are agreed in providing financial support worth 350 million U.S dollars in order to support the reconstruction process in Iraq. It is considered as a part of an extensive program that would be implemented for five year plan for reconstruction of infrastructure in Diyala and Salahuddin provinces. The World Bank has issued a statement that the World Bank has been approved an economic aid for Iraq of 350 million U.S dollars…

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Iraqi Cash Reserves Approaching at $ 80 Billion: Finance Committee

Iraqi Cash Reserves Approaching at $ 80 Billion: Finance Committee

The Iraqi Finance Committee refused that Iraqi government used the hard cash reserves to manage the budget deficit problems. It is also said that total cash reserves are 80 billion U.S dollars, in which 69 billion U.S dollars cash reserves and 10 trillion Iraqi dinars. The Finance Committee further said that we are surprised to see the sale of hard cash which is exceeding the predefined limit in the Iraqi budget 2015. It is said that maximum limit for daily…

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Iraq is looking to Gain International Credit Rating for Its Dominant Bonds

Iraq is looking to Gain International Credit Rating for Its Dominant Bonds

A press statement issued by the Iraqi Finance Ministry that a meeting was conducted by the Iraqi Finance Minister Hoshyar Zebari along with his delegation in the presence of Sheikh Safa Deputy Adviser of Iraqi National Security in Turkey, to discuss with Fitch and Rodez credit rating International. Iraq is looking to get hold for an international credit rating in order to issue self-governing bonds for the improvement and increasing in development of the investment volume. This meeting held to…

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Assets of Iraqi Dinar Currency Dealers to Seize

Assets of Iraqi Dinar Currency Dealers to Seize

The Federal Authorities are looking to seize all transferable and non-transferable properties from the Georgia based corporation that is dealing in Iraqi dinar currency. The prosecutors said in federal complaint that Atlanta based Sterling Currency Group LLC is one of the largest group selling the Iraqi dinar currency in the United States. The prosecutors said that the business of Georgia based group is based on what they mentioned is a scam used to defraud investors for giving guarantee of revaluation…

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Launching One Trillion Dinars is Not the Violation of Article 50: CBI

Launching One Trillion Dinars is Not the Violation of Article 50: CBI

The Iraqi Central Bank issued a statement that launching one trillion Iraqi dinars considered a positive step in order to control the U.S dollars exchange rate against the Iraqi dinar and to preserve economic stability in the country. It is also said that this decision is not the violation of article 50 of Iraqi budget law 2015. The Central Bank also pointed out that stability in the Iraqi dinar exchange rate would strengthen the Iraqi economic condition. A member of…

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Downfall in the U.S Dollar Prices Increased bond Earnings

Downfall in the U.S Dollar Prices Increased bond Earnings

Yesterday, Euro currency rose in the Europe because the dollar’s poor form and out of condition in the fluctuations in the bond market strongly trust the U.S currency, which has conquered in the previous year to the currency markets. The current step was to re-examine and recheck the yearly risks in the bond markets. The analysts tried to find out its reasons to the rise in the U.S bond earnings. It was considered that the U.S dollar would get benefit…

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Investment Law Amendment Scheduled for Iraqi Parliament: Najiba Najib

Investment Law Amendment Scheduled for Iraqi Parliament: Najiba Najib

Iraqi Dinar 123 News: – The representative of the economy and investment commission said that there is not any type of disagreement regarding the investment law. The insertion of the amendment the law investment is under the discussion for the parliamentary session, which will take place according to the schedule. A Parliamentary Finance Committee member Najiba Najib issued a statement that the draft investment law will be discussed inside the parliament and in the front of the House of Representatives….

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Are Foreign Loans Necessary for Iraqi Economy?

Are Foreign Loans Necessary for Iraqi Economy?

Iraqi Dinar 123 News: – Most of the economists warned about getting foreign loans and growing appreciation of the Iraqi economy due to the budget deficit and a meaningful downfall in the global oil prices. This situation reflected bad impacts on Iraqi economy and created more challenges which need solutions, proposals, ideas and then implementation with effective and quick work in order to avoid the future burden for the Iraqi economy. A famous economic expert Raed Fahmi said that decline…

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