A discussion loop in Basra on Sunday showed that the province has the lowest unemployment rate throughout Iraq. “Unemployment is among the biggest challenges that face Iraqi economy,” a source insider to the loop told Aswat al-Iraq news agency. She said that unemployment negatively affects economic and social circumstances in Iraq. (Aswat Al Iraq)
Tag Archives | Iraq Banking & Financial News
The latest Iraq financial and banking news including Dinar, Investment Oppportunities, Funds news and more.
Iraq Investors Trade Polls for Portfolios
The room is buzzing. Men lean on wooden shelves as they phone brokers sitting behind a glass barrier. Others focus on screens showing the latest trades on the Iraq Stock Exchange, while an AK-47-wielding guard keeps his distance behind. The market has resumed trading after a five-day break because of Sunday’s general election and the […]
Iraq Aims to Limit Inflation
The Iraq Central Bank Governor said that the policy of the Bank is based on encouraging funds to Iraqi banks and not the other way round in order to limit inflation in Iraq. The Iraq Central Bank is keen to raise interest rates to make it equivalent to the rate of inflation in the country […]
Iraq Expects to Step up T-bill Activity in 2010
Iraq expects to step up its Treasury bill activity in 2010 to help plug continuing budget deficits and foster a secondary treasury market, the Central Bank and Finance Ministry said in a submission to the IMF. Iraq, only just emerging from sectarian war but still battling a stubborn insurgency, also wants to develop foreign exchange […]
Investment Gap ID36 Trillion in 2010
The investment gap in Iraq in 2010 is ID 36 trillion, an economist said on Wednesday. “Investment allocations in 2010 are below expectations,” Kamal al-Basri told Aswat al-Iraq news agency on Wednesday. He said that the allocations delay governmental programs and extend Iraqi people’s suffering. (Aswat Al Iraq)
Claims to Trace the 850 Billion Dinars Dedicated As Social Benefits of the Three Presidential Bodies
The Accountability and Transparency Department, a non-governmental organization, held a seminar on promoting standards of financial transparency in the city of Najaf last week. Mr. Hussein al-Kaabi, head of Accountability and Transparency, said, "One of the foundations of democratic states is the freedom of access to information in order to enhance accountability." Kaabi said, "The […]
CBI’s Dollar Sales Drop to 85m on Tuesday
The Central Bank of Iraq’s (CBI) dollar sales fell to $85.010 million in its daily auction on Tuesday, compared to $183.530 million in the previous session. “The demand hit $5.01 million in cash, covered at an exchange rate of 1,183 Iraqi dinars per dollar, and $80 million in foreign transfers outside the country, covered at […]
Revenues for Oil Producing Provinces
The Iraqi Council of Ministers has proposed to Parliament that part of the oil revenues be allocated to provinces that produce oil. “The cabinet proposed the allocation of $1 per barrel to each province that produces oil,” Dr. Ali al-Dabbagh, the official spokesperson of the Iraqi government, said in a release on Tuesday received by […]
Tags: Iraq Banking & Financial News, Oil
Baghdad’s Investment Budget to Reach $1bn in 2010
The investment budget of the capital Baghdad will reach $1 billion U.S. dollars in 2010, Baghdad’s governor said on Tuesday. “Forty percent of this budget will be used to cover the projects that were implemented in the province in 2008 and 2009,” a statement received by Aswat al-Iraq news agency quoted Governor Salah Abdulrazzaq as […]
Kurdistan Postpones Budget
The Kurdistan parliament’s chairmanship decided on Tuesday to postpone discussing the region’s 2010 budget until the end of the coming parliamentary elections. “The parliament decided today (March 2) to resume discussing the 2010 budget after the end of the coming elections,” Ismail Kalali told Aswat al-Iraq news agency. (Aswat Al Iraq)
2 More Years of Budget Shortfalls’
Iraq will likely have two more years of budget shortfalls before stronger oil prices and production lift it back into surplus in 2012, the International Monetary Fund said. In its regular review of Iraq's economy, the IMF said Iraq's economic growth in 2010 will probably be significantly stronger than it was last year, but the […]
Exchange Rate Reasonable
The governor of the Central Bank of Iraq (CBI) on Monday said that the current exchange rate (1,170 Iraqi dinars per dollar) is reasonable, adding that the bank has enough foreign reserves, totaling $43 billion U.S. dollars, to defend the exchange rate. “The CBI is adopting a managed floating policy of exchange rate, through which […]