May 1, 2007

Demand for the dollar was up in the Iraqi Central Bank’s daily auction on Monday, reaching $68.210 million compared with $51.530 million on Sunday, while the dollar exchange rate went down.

The United States will continue to work with other countries on debt relief for Iraq as the International Compact with Iraq prepares to meet next week, State Department deputy spokesman Tom Casey said on Wednesday.

CBI, Commercial Bank International participated in the first Iraqi Banking and Finance Conference which took place in Amman, Jordan.

April 20, 2007

Iraq may have untapped oil reserves of over 100 billion barrels on top of a known reserve base of 116 billion barrels, making Iraq the world's potential top oil producer, says an IHS Inc. report. According to IHS's rankings, Iraq ranks third in known oil reserves, behind Saudi Arabia and Iran.

April 18, 2007

An oil law is vital for Iraq to attract investment from foreign firms to boost its oil output and rebuild its economy, but disputes that have dogged the lengthy law-writing process continue to simmer between regional and central governments.

Unadim Kana, deputy chairman of the Economic Committee of the House of Representatives unveiled the intention to hold intensive meetings with a number of academics, economists and businessmen in order to get acquainted with the real need for appropriate economic law.

Treasury Deputy Secretary Robert M. Kimmitt issued the following statement today on the Government of Iraq and the United Nations' announcement that the International Compact with Iraq will be signed in Sharm el-Sheikh on May 3.