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ECONOMY

 Consolidated Weekly Reports

A number of key activities are underway to set the new Iraqi economy on course as a free market economy.  These efforts will: 

 BUILD FINANCIAL MARKET STRUCTURES

Modernize the Central Bank; Commercial Banking System; Re-establish Baghdad Stock Exchange; Restructure National Debt

Fact Sheet on Central Bank Law

Financial Market Construction

Private Banks

DEVELOP TRANSPARENT BUDGETING AND ACCOUNTING ARRANGEMENTS

Redraft and Execution of 2004 Budget

Transparency in Accounting

DEVELOP FRAMEWORK FOR SOUND PUBLIC SECTOR FINANCES AND RESOURCE ALLOCATION

Increase Capacity of Ministries of Finance and Planning to Manage Public Resources; Increase International Coordination to Manage Foreign Assistance

Public Sector Finance

PAY REFORM FOR PUBLIC EMPLOYEES:

Public Sector Management Reform

PRIVATE SECTOR INITIATIVES

Streamline existing commercial code/regulations; Facilitate lending to private businesses; Create Business Centers; Iraqi Participation in Reconstruction Subcontracts; Business Development

Private Sector Development

COMMENCE REFORM OF TAX SYSTEM

Reform tax rates

REMOVE SUBSIDIES/DEVELOP SOCIAL SAFETY NET

Develop energy subsidy reform plan; Strengthen food security controls on PDS system until monetization is implemented

IMPLEMENT POLICY TOWARDS STATE-OWNED ENTERPRISES (SOEs)

Return SOEs to pre-war operation levels, where appropriate; Find sources for financing their short term working capital and investment requirements; Hard Budget

State Owned Enterprise Profiles

DESIGN OIL TRUST FUND

Proposal for Oil Trust Fund

LAY FOUNDATIONS FOR AN OPEN ECONOMY

Provide IG Staff Capability; Trade Bank; WTO Observer Status; Draft Intellectual Property law to GC by April 15, 2004; Develop Framework for Collateralizing Movable and Immovable Property

PURSUE NATIONAL STRATEGY FOR HUMAN RESOURCES DEVELOPMENT

Begin work to employ 100,000 workers in Public Works programs around the country

 

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