Iraqi Dinar 123

Iraqi would close its import of oil products till the end of 2018. This report issued by the International Center for Development Studies and explained based in London. 

The ISIS or Islamic State in Iraq and Syria has announced that they have opened their own bank in the City of Mosul to provide loans and to compensate for mangled currency, in order to financing and to raise the business for terrorist organizations.

The Iraqi dinar is declining against the foreign currencies especially against the U.S dollar which would be harmful for the economy of Iraq.

According to the Baghdad News, the Iraqi airways has denied the rumor, in which, it was said that aircraft was not fit with the nature of transport and to carry the passengers.

News from Erbil-Iraq, December 23, Kurdistan President named MassoudBarzani said on Tuesday that there should be an independence of the region as this is the natural right for us to enjoy the independence in decision, policies and use of the resources.

According to the Iraqi press, Speaker, Saleem al Jubouri announced on Tuesday to hold a special session of the parliament, Thursday, it was also discussed the draft budget bill, its affects, its implications on the year of 2015. Jubouri said the reporters that their announcements of the cabinet vote on the budget without the deficit.

According to the Iraqi press news of 23December, the FUAD Masum, who is a president of the Republic, received the members of board of commission and president in an office of election commission in Baghdad.

Speaker for parliament on 23 December announced an agreement between the three presidencies to choose advisers for the purpose of economic reforms and to handle the other activities, and helping the government structure to be improved.

Baghdad News- Reported that the sales of the Central bank have increased in an auction held on Monday to more than $118 million after reaching the sales on Sunday i.e. $82 million and 639,000 on Saturday. This is the good thing and a sign of confidence of the investors on the bank.

The reporter writes in its posts about one of the OPEC member, who said, "Oil market will rebound the end of the 2015". Obviously, the reducing oil prices will affect the economies, which are oil based economies, but this is fact, Oil industry is again going to rebound and the rates will increase again.

Iraq is losing a lot of money with the sale of oil. Per barrel cost is less than what it should be and it is costing a loss of billion dollars to Iraq. The US and Brent crude oil costs more than $ 60 a barrel but due to the hike and decline in the prices of oil.

Iraq has been suffering from a lot of war after effects and it is being helped by other countries to do repairs and get over the war after effects. Kuwait has been providing Iraq with the money for these repairs but it is expected that the next installment might be delayed.

The price of Brent crude oil settled below $ 60 per barrel on Friday which was a good thing for not just Iraq oil consumers but oil consumers over the world. With the prices receding countries like Iraq gain a lot of benefit as low prices attract more clients.

The insurance sector in Iraq is facing the great problems in Iraq, even though this sector has the native laws and regulations, which has made this sector as a very important sector of the Iraq.

The Central bank of Iraq denied the rumor about the stop of foreign exchange operation or cash sales dollar operations, and further cleared that economy of Iraq neither can nor run without this and we need to support this operation for the economic development.

Dependency on Private Sector Has to Increase : Jamil Antonie On behalf of the Jamil Antonie, Ara saw the need of reduction of costs and increase in the Erdat and reliant on the private sectors to promote the economic reality, in this way, this is the best way through we can get more dependence on the private sector to promote the economic reality.

Iraqi prime Minister admitted that there is a financial problem for the year of 2015 as there is a consistent oil fall in prices and this is creating the deficit of finances in the Iraq for budget as well, with this problems, there are chances that this problem may extend till 2016 as well.

Removal of the three zeroes still depends on the strategic projects, security situations in the country, and implentations of the logistical and technical measures by the central bank, which were supposed to implemented in early 2014, but these are not yet implemented.

The central bank sales have declined to $169 million after it reached to the level of $188 million and 991001 and this is a down to the value of sales target beyond the expectations.

This is a good news for Iraq for being placing at the Arab level on Second Number whie at 92nd number on the global level in the index of power engineering 2015. This has measured the performance of power engineering of the world economic forum 2015, which was issued for the third year in a row.