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After Lifting Chapter VII Iraq is Preparing to Claim Assets in America

After Lifting Chapter VII Iraq is Preparing to Claim Assets in America

There are more than $82 billion of Iraq frozen in the American banks because of chapter 7, imposed by United Nations as a result of invasion of Kuwait by Iraq in 1990. The United Nation lifted chapter VII sanctions from Iraq few months ago. After lifting sanctions from Iraq a number of positive changes have been seen in the economy of Iraq in last three months. Numbers of companies signed oil and energy contracts with government of Iraq and some…

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Iraq May Postpone The Elections Due to Lack of Funds

Iraq May Postpone The Elections Due to Lack of Funds

The parliamentary economic committee announced that because of delay in approving final budget of Iraq, the country is facing 5 billion dollar lose in every month. Iraq needs 35 billion Iraqi dinars to hold elections in the country. Therefore the committee suggested government to postpone the general elections in the country. The annual budget of Iraq is late for three months and could not approve due to recent tension between Iraq and Kurdistan. The accumulative lose for Iraq is 15…

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Iraq Gained The Support of Hnaraa to Join World Trade Organization

Iraq Gained The Support of Hnaraa to Join World Trade Organization

After the recent meeting with Deputy Minister of Foreign Hincara for international Affairs and Ambassador Hincara in Iraq, the ministry of commerce of Iraq announced that Hincara is ready to support Iraq to get membership of WTO. The Walid habib further said that both of the countries have strong economic relationships with each other since 1988. Both of the countries want to enhance the economic relationships with each other with every passing day. The deputy minister of foreign affairs ensured…

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Structure of Central Bank And Financial Supervision Should be Developed

Structure of Central Bank And Financial Supervision Should be Developed

The Structure of Central Bank And The Office of Financial Supervision Should be Developed: Finance Committee The Parliamentary Finance Committee of Iraq suggested making structural changes in the office of Central Financial Supervision office and the Central Bank of Iraq. According to finance committee of Iraq, these changes are crucial to make monetary policies and fiscal management more affective in the country. There are three major financial institution of Iraq; Central Bank of Iraq, the Office of Financial Supervision and…

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Russia and Iraq Are Ready to Collaborate in All Energy Sectors

Russia and Iraq Are Ready to Collaborate in All Energy Sectors

During production ceremony of West Qurna 2, the Deputy Prime Minister of Russia announced that Russian Government is ready to cooperate with Iraq in the development of all energy sectors. He thanked the local and central government of Iraq for cooperating with Russian engineering companies working in Iraq. He further ensured the cooperation and support of the Iraqi students and scholars’ studying and working in Russia. He further added that Iraqi will be given complete support and security during their…

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Investment Forum in Iraq and Kurdistan

Investment Forum in Iraq and Kurdistan

Industry of Kurdistan region and the chamber of commerce of Iraq announced on Sunday that investment forum will be started in Erbil and Baghdad under the supervision of 300 economic personals. More than 30 foreign countries including Arabs will participate in the forum. It is so unfortunate for Iraq that the economic forum is not working in the country for more than 40 years. The head of chamber of commerce of Iraq, Dara Jalil Khayat said that Iraq is starting…

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Iraqi Government must Avoid Interfering CBI Performance, International Bank

Iraqi Government must Avoid Interfering CBI Performance, International Bank

Central bank of Iraq is under severe criticism by local and international economists and Iraqi government for its poor monetary policies. The international bank warned government of Iraq to avoid useless criticism on the performance of central bank of Iraq, otherwise the Iraq will be declared as blacklist and sanctions will be imposed on country like past. Government of Iraq was conducting inquiry against official of central bank of Iraq due to massive difference in the exchange rate of currency…

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Buying of Gold And Expectations of Dinar Revaluation

Buying of Gold And Expectations of Dinar Revaluation

The central bank of Iraq surprised the whole world with the recent trade of gold. The gold reserves of Iraq have doubled now after this purchase of 36 tons of gold. The recent gold reserves of Iraq are 63 tons after addition of 36 tons in the total gold reserves of Iraq. The central bank of Iraq spent $1.52 billion to purchase this amount of gold with the expectation that it will stabilize the currency of Iraq. The economists are…

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