Experts: Ensure the investment is the basis of development


Baghdad / Emad Al-Amara Iraq is suffering from the problem of the slow arrival of international and regional investments to be present in the local business arena, despite the great tendency to open up to foreign investment, especially after the achievement of the Central Bank achievement in getting out of the list of sanctions in the European Union to contribute to attract money and create the investment environment in the country and ensure the flow Investments to Iraq \ Attract investments between the academic economist d.

"The success of the entry of foreign investment into Iraq requires the creation of an appropriate environment for the process of attracting these investments, after reforming the financial structure with procedures to facilitate the entry of investors’ funds," he said.

"The institutional and legal frameworks must be set up to instill confidence in the foreign investor, Which is stipulated in the investment law is the basis for organizing any economic activity.

" Conflicting policies
He continued: "It is necessary to achieve general stability, so if the investor enters its money, it must be dealing with the administrative policies and decisions in force in Iraq smoothly and without obstacles and away from routine."

He stressed the importance of directing foreign investment first in the infrastructure, especially in the energy sector, transport and basic services as it is the basis for the success of other investments, while encouraging joint investments between foreign and national capital to transfer expertise to local investors to develop their capabilities and potential.

He explained the importance of pushing foreign investors to use national labor after being given the possible facilities and exemptions from duties and taxes levied on such investments, and obliging foreign investors to run specific percentages of the labor force to absorb the phenomenon of domestic unemployment. "

For his part, the academic economist Amr Hisham need to "overcome the challenges facing foreign investment to enter the country through upgrading the infrastructure in Iraq, especially in energy sources, roads, transportation and basic services necessary for the success of investment projects."

"This requires directing the state’s effort to rebuild the basic infrastructure of the society so that the process of reconstruction and foreign investment can succeed," he said.

Investment flows
Hisham pointed out that "the absence of sophisticated financial markets able to meet the requirements of the investment sector in all forms is another obstacle to the success of any investment," but the central bank opened the door to enter the money to Iraq after he managed to get the country out of the list "The presence of such sophisticated markets helps the process of investment flows and motivate citizens to invest their savings, especially if we know that there is an intention to privatize a number of state-owned enterprises."

Investment Decision
Hisham focused on "
He called for "the development of the institutional and legal framework, especially after changes in the methodology of the state and its future directions in the transformation of the Iraqi economy from the central planned economy to the free economy, and the transition from the central management of the strong state to the federal system with broad powers to manage the regions and provinces, Its interaction with multiple institutions with unaligned powers ".

The Central Bank Of Iraq Officially Comes Out Of The EU Sanctions List

BAGHDAD – Wisdom: The European Union officially announced the exit of the Central Bank of Iraq from the list of sanctions imposed by the Union on the institutions.

A statement by the Central Bank received a copy of the wisdom that the decision was "through the publication in the official newspaper of the European Union, which confirmed the abolition of sanctions imposed on this bank under the former regime, which provided for the {prohibition of dealing with a group of financial institutions and non-financial Iraqi, including the Central Bank Iraqi}.
He pointed out that "this step comes as the Iraqi Central Bank achieved significant progress in improving its performance and the application of international regulations and standards in this field.

This bank shows that under these recent amendments will allow the international financial banking institutions to deal with the new instructions as it has become a reliable financial institutions to deal with European international institutions ".

United Nations Secretary-General António Guterres has announced the appointment of Jeanine Hennis-Plasschaert (pictured) of the Netherlands as his Special Representative for Iraq and Head of the United Nations Assistance Mission for Iraq (UNAMI).

She will succeed Ján Kubiš of Slovakia, to whom the Secretary-General is grateful for his service.

Ms. Hennis-Plasschaert brings over 20 years of political and diplomatic experience, having served in several high-level government and parliamentary positions. She was Minister of Defence of the Netherlands (2012-2017), the first woman to be appointed in that role.

As Minister, she oversaw the Central Staff, Support Command, the Defence Material Organisation and the four Royal Netherlands Armed Forces: Army, Navy, Air Force and the Military and Border Police. In this role, she had oversight of Dutch involvement in military operations in Mali, Afghanistan and Iraq, building close collaboration with the European Union, the North Atlantic Treaty Organization and United Nations partners.

Ms. Hennis-Plasschaert also served as a member of the House of Representatives of the Netherlands (2010-2012) and a member of the European Parliament (2004-2010). She worked for the European Commission in Brussels and in Riga, Latvia, and for the City of Amsterdam.

(Source: UN)

The EU Supports Reproductive Health Services in Iraq with a new contribution to UNFPA

The European Union continues its support to UNFPA in Iraq through a EUR 5 million contribution to sustain reproductive health and clinical management of rape services across Iraq.

The United Nations estimates that around 825,000 women of reproductive age are in need of humanitarian assistance in Iraq.

The delivery of health care services in both conflict affected areas and Internally Displaced People’s hosting areas has been severely impacted, as a result of the three-year devastating war against the Islamic State in Iraq and the Levant (ISIL).

With this funding, UNFPA will support comprehensive emergency obstetric care in six hospitals in Telafar, Hawija, Qaim, Hammam Aleel, Qayarra and Shirqat, Basic Emergency Obstetric Care, in four facilities in Beiji, Ana, Qayarra airstrip and Sunoni, five reproductive health clinics in Jadaa, Salameya and Hamman Al-Aleel camps, and 26 RH clinics in West Anbar, West Ninewa, North Salhuddin and Kerbala.

Mr Christos Stylianides (pictured), European Commissioner for Humanitarian Aid and Crisis Management, said:

“The EU will continue to provide critical medical assistance in Iraq. Facilitating access to essential reproductive health services for displaced population and assisting victims of gender based violence are top European priorities in Iraq.”

Dr Natalia Kanem, UNFPA Executive Director, said:

The new EU contribution is much appreciated as it will go a long way in addressing the serious shortfalls in reproductive health services resulting from the wide destruction of Iraqi hospitals and health facilities.

“This will also allow UNFPA to continue providing health facilities with urgently needed medical supplies and services, and ensuring that tens of thousands of women and girls can enjoy quality reproductive health services.”

The EU has been a strategic partner to UNFPA in Iraq since 2015 with a total contribution of EUR 21 million to the Fund’s reproductive health and gender-based violence interventions.

(Source: EU)

The Nineveh Governor Nofal al-Akoub and EU Delegation representative Mathieu Goodstein launched the Online Damage Assessment System in Mosul at the Governorate building.

The system gathers information about the damage of vital facilities in a centralised data base and informs administration and donors on both needs and projects implementation in restoring stability and future development of the city.

The reporting system uses web and mobile phone applications, easy graphical interface in both English and Arabic languages, and contains the damages assessed in the province accurately for each sector.

Furthermore, it provides an opportunity for citizens, local and international government agencies, NGOs and donors to monitor process of reconstruction and improvement of services that are fundamental to daily life.

Mathieu Goodstein from the Delegation of the European Union to Iraq, said:

“This project illustrates perfectly well the tangible impacts such initiative has. The real time data collection equally strengthens accountability on all sides of the equation, and the end result is the improvement of the conditions of the people of Ninewa. It is noteworthy to point out that such tool is “homegrown”, epitomizing an Iraqi solution of an Iraqi situation. Widening its scope, this tool clearly has the potential to be replicated in other Governorates – covering a wide range of sectors”.

Nofal al-Akoub, Governor of Nineveh stated that:

“This EU  visit is a support to the local government of Nineveh. We also thank UNDP for its support for the reconstruction, which was the first organization to support of Nineveh province. This online system is unique in Iraq and the rest of the provinces can borrow this experience and we are fully prepared to support that.”

The system was developed under Local Area Development Programme (LADP), implemented by United Nations Development Programme (UNDP) and funded by the European Union. In addition, LADP has supported the Governorate in building capacity for effective planning through the development of Ninewa Response Plan.

(Source: UNDP)

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Is the world about a war of currencies or war started ?!

What was being put in narrow circles a few months ago is now a question that is expanding day after day. Is the world heading for a currency war? Or is the currency war already under way, and can the Sino-US trade conflict be a prelude to a massive economic downturn that drives both sides to take a qualitative step to win the battle by turning to currency war? And who is the biggest loser in that war if it breaks out?

Currency war is the password now in many economic corridors, and it is not a matter of examining the extent of its seriousness or economic impact, such topics have killed academic research, but that the international economy suffered catastrophic effects in some stages of development, and therefore humanity has painful experiences with That kind of war, and what is currently being seen, is limited to how the global economy can face the risks of that battle.

Can the bipolar leaders of the United States and China realize the fate of the international economy if they decide to go ahead with currency war, Which may mean that Khaya Is economic suicide the official choice?

Professor John White, former chairman of the Bank of England’s Advisory Committee, puts the question to the question: Does anyone have an interest in the value of the currency being high in the current global trade conflict? The question is answered by "no".

"It can not be said that the international economy is witnessing a war of currencies, but certainly the circumstances are more than ever prepared for that war," he says. "If you are pessimistic, I can say that we are moving in this direction.
"The big economies now have a strong currency, after the strong currency has been a sign of strong economy and improved performance, and the conviction now prevailing among many economic leaders and policymakers that a weak currency will boost economic growth gives the economy a preferential advantage On his trade rivals, the risk that if everyone joined to that conviction will be all losers. "

The US administration wants the dollar to be weak, the EU is also seeking a weak European currency, and Japan is not hiding its official policy to overcome deflation lies in weakening the yen, China wants the yuan More competitive to increase exports and reduce imports, and Britain is silent on the decline of sterling, which could contribute to increase exports at a time when the exit from the European Union many economic problems.

But what’s the problem with that? Answers d. David, the Bank of England economist, said: "There is no problem in devaluation per se if it is a result of changes in market forces, but the risk when it is deliberate or flawed is done deliberately."

He asserts to the "economic" that the US side was clear and frank in accusing China strongly and frankly, as well as Japan to a lesser degree, that they manipulate the value of their local currency, the yuan and yen to achieve preferential advantages at the expense of US exports.

He notes that US Treasury Secretary Stephen Manuchen welcomed the depreciation of the dollar while welcoming the best economic performance of the euro area in more than a decade. Not surprisingly, the euro against the dollar rose to more than $ 1.25. On the other hand, The European is very upset by the euro’s improved value, which hampers its efforts to overcome deflation and low inflation in the Eurozone countries.

"Under the circumstances, investors and hedge funds are very cautious and delay their investment decisions pending clouds, which means a drop in growth."

Concerns that a trade war could turn into a currency war are legitimate for many economists, but they believe that currency war has not yet officially broken out.

But some believe that the US economy may be better able to counter that war than others. Some even believe that Washington may have a real interest in moving the international economy toward a currency war to curb the Chinese yuan’s ambitions.

Concerns about China’s pricing of many international goods, mainly oil in yuan, concern the top White House economic officials, congressional leaders and US financial institutions. The dollar now accounts for about 85 percent of international trade transactions, and such a step could erode the currency’s centralization.

And some believe that Washington has an interest in weakening the Chinese yuan so much that it can not be priced for major commodities in international trade, and this will only happen through its defeat in a currency war, which China is seeking to avoid now .

Since 2016, there are notable Chinese steps to dismantle capital controls on the yuan, a prerequisite for making it an international currency. Although these steps contribute relatively to the promotion of international trade by promoting the use of the yuan beyond China’s economic borders, it is a future challenge for the dollar American.

"The Chinese central bank has pledged that it will not use the yuan as a means of a trade dispute with the United States, revealing China’s financial policymakers’ understanding that they will emerge losers from the battle of currency war," said Tina Brown, a banking expert. In that war, the Chinese yuan is in a vulnerable position, and Beijing will not have to repeat the experience of 2015 by injecting more cash reserves into the markets to maintain the value of its national currency from total collapse against the dollar.

This means huge erosion in its dollar reserves without a household It is to maintain the balance of the yuan. "
But if the United States can emerge victorious in that war, despite the losses, why not rush to ignite the currency war ?!

The current interplay in the global economy as a result of globalization largely hampers the ability of the United States to do so. Such a war will inevitably weaken the growth rates of the Chinese economy and weaken the import intensity of China from the United States. Means that the US economy is negatively affected by the decline of his opponent.

Investment expert Boris William said the United States would accept a relative devaluation of the yuan as a means of providing some support for the Chinese economy. But if Beijing’s financial authorities ignore US warnings that the yuan should not retreat from a certain level, the sensitive level is 6.7 yuan against the dollar The US strategy will change.

"The fear that the continued devaluation of the Chinese currency against the dollar will lead to a currency war is because each country will have a different reading of the reasons for this decline. While China will view it as a justifiable move, Given the conditions in the Chinese economy.

He explains that the other side, the administration of President Trump, will look at China’s position as a plan aimed at harming the US share of world trade. If the two sides engage in a currency war, the other economies will certainly suffer greatly.

He notes that a number of advanced industrial countries such as Japan, the European Central Bank and the Bank of England have used the logic of weakening their currency more money printing to encourage exports, so why deprive China of the practice?

Vulnerable farming families in post-conflict areas in Iraq’s Ninewa plains, west of Mosul, will be able to better withstand shocks thanks to a European Union-funded UN Food and Agriculture Organization (FAO) project that aims to increase household income while building, repairing and maintaining local infrastructure and creating communal and public productive assets.

The €6 million project funded by the Madad Fund – the European Union’s Regional Trust Fund in response to the Syrian crisis – is part of FAO’s Recovery and Resilience Programme. The programme contributes to reducing chronic, or acute food insecurity, malnutrition, poverty, and associated risks and vulnerabilities in Iraq’s agriculture sector.

“The European Union has responded promptly to the very urgent needs of the most vulnerable families that were affected by the conflict in northern parts of Iraq,” said Fadel El-Zubi, FAO Representative in Iraq. “Thanks to the support from the European Union, households will enhance their resilience and ability to cope with shocks by increasing their net earnings,” he said.

Cash-for-work to improve access to water

Through cash-for-work activities, 1 250 households will be able to earn an income, directly benefiting around 7 500 people. Critically, the results of this work will also enable farmers to access water for crop irrigation and livestock, through the rehabilitation and construction of water catchments, roads, river embankments and secondary canals.

“Once these important agricultural assets and irrigation infrastructure are restored, the project will provide water for 70 000 hectares of currently unproductive land that can be used for winter wheat crops, and the spring and autumn vegetable seasons,” El-Zubi said. “This means 30 000 vulnerable farming households (180 000 people) will be able to produce food on their land again.”

Many of the families participating in the cash-for-work component of the project have no other income. Participants include women and other marginalized groups, with the work benefiting the community as well as individuals and families.

FAO’s humanitarian response

As the Government of Iraq moves towards a focus on rehabilitation and recovery, humanitarian needs remain. Under the Humanitarian Response Plan 2018, FAO requires $10.2 million to assist 116 100 people in the areas of livestock, plant pest outbreak control and food security coordination.

Over the longer term, under the Iraq Recovery and Resilience Programme 2018-2019, FAO requires $76 million to assist 1.6 million people by restoring agriculture and water systems and revitalizing communities.

FAO’s focus remains on ensuring rural families have the resources to re-establish and secure their agricultural livelihoods and build their resilience into the future. FAO’s work, in close coordination with the Iraqi government, supports families returning to retaken areas, internally displaced families, host communities and refugees from Syria.

(Source: UN)

Iraq violates UN Security Council resolution on Iran nuclear deal: UN


Iraq is violating a UN Security Council resolution on the Iranian nuclear deal, a UN report said on Thursday.

The Secretary-General of the United Nations addressed the report to the Security Council, which contains many details of the violations of the Iranian nuclear agreement.

Among the violations committed by Iraq is the participation of Iranian military companies in a military exhibition held in Baghdad on March 10, 2018.

Qasem Soleimani’s repeated visits to Iraq also contravene UN Security Council Resolution 2231.

The representative of the United States of America to the United Nations commended the report of the Secretary-General of the United Nations, which for the first time demonstrated Iranian military activity in the region.

Russia’s delegate to the United Nations, Vasily Nabenza, said the United States delegate "focuses on the wrong part of the report, while he has to focus on the first part of it."

In the section to which the Russian delegate referred, the Secretary-General of the United Nations criticizes the American withdrawal from the nuclear agreement to which the European Union is still committed.

"We will continue to work to strengthen the nuclear agreement so that it can be preserved and ultimately successful," said Dutch delegate to the UN Karl van Ostrom.

Instead of focusing on the agreement, the United States delegate focuses on Iran’s role in the region without addressing Iraq and supporting Iran’s popular mobilization.

"Looking at the region, Iran supports the Huthis, Iran supports Hezbollah, Iran supports Hamas, and Iran supports the Assad regime," said US Deputy Secretary of State Jonathan Cohen.

In a more moderate tone than her American counterpart, British Permanent Representative to the United Nations, Karen Pearce, criticized at one of the meetings of the Iranian nuclear agreement, for the first time, the regional role of Iran.

"Iran is a mature and respectable civilization with legitimate security interests in the region and deserves its place in the multi-faceted world order. But Iran’s ways of protecting its interests often lead to instability and threats to its neighbors," Peres said.

But America is not only criticizing the British and European, but its representative at the United Nations calls on all countries of Europe, India and China to stop buying Iranian oil, and punish Iran economically.

Steps in the fight against money-laundering


Dr. Basem Ibrahimi
Money laundering is one of the most dangerous financial crimes being taken by gangs

the organization.

It means the process of re-entering the money obtained by means of criminal offenses against the law and legislation (dirty roads) to the economy again on the basis that it is clean money after being passed through a number of channels, including banks, especially in countries that
do not restrict the transfer of money from And to its economy.

The Iraqi economy has suffered during the past years from this phenomenon, especially as it was sometimes associated with the terrorist acts that hit the joints of the country and the economy in particular.

The AML which was created in accordance with this Act shall take measures that would eliminate this

The fight against money laundering and terrorist financing has become international, and international efforts have been increasing.

The lists of persons and entities accused of such crimes have been issued by entities such as the United Nations (enforceable), the European Union and the Office of Foreign Assets Monitoring Whose lists are non-binding, but the non-application threatens the political and economic interests of the country, which refuses to cooperate in the application of those

Iraq has developed in recent years the measures and policies taken in the fight against money laundering and terrorism financing and is following the updates issued in the international lists to take action against individuals and entities listed on those lists.

In this context, Iraq has established a committee called the Committee for the freezing of terrorist funds in accordance with international standards and its commitment to fight the financing of terrorism and has issued several important decisions which are calculated for this
national committee .

That the important steps taken in this context will be reflected positively on the overall international relations of Iraq, especially in the economic aspect as the economy is affected greatly by the results of the measures taken and their role in achieving the conditions of confidence and stability, which are one of the most important foundations for the stage of construction and growth that Iraq aspires in the new phase.