Consolidated Weekly Reports

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