Iraq/Dinar News. 09/05 to 01/14/07

[Mike5200]

Hi Everyone,

I was just on IDI and they are excited about this information on IMF website. It was posted by Good Karma. I am not sure if it has been posted here yet so if it has sorry.

QUESTIONER: The other question I do have is there is a lot of confusion out there about the whole multilateral consultations. We had the Bank of England's Deputy talking, saying this week that the discussions between the U.S. and China were ongoing now. We know that the second phase is happening. There seems to be some confusion about who is taking part and how it is happening? Is there anything you can say on it, although I know that you don't really want to talk about it?

Mr. AHMED: I won't say as much as you would want me to on it, but what I can say is, and none of this is really going to be terrifically new stuff but just to give you clarity on where we stand.

The first started after the Spring Meetings. As we said then, we were going to do this in two phases. First we were going to try and meet with each of the individual members in that group, and then we were going to move to a second phase where there would be discussions among the members of the group, facilitated by the Fund.

That first phase is over. We are now in the second phase. How far advanced we are in the second phase, what the exact set of meetings is going to be and when they are going to take place is not something that we have taken a view on making public. That is where we stand now on the exact state of the second phase.

QUESTIONER: Can you remind us who is taking part in this process?

Mr. AHMED: I am very happy to remind people who takes part in that process. The five economies that are taking part in that process are the Euro Area, Japan, Saudi Arabia, the People's Republic of China, and the United States.

Transcript of a Press Briefing by Masood Ahmed, Director, External Relations Department, IMF
Dinar-Excited

I don't know, maybe I took my Stupid pills today-but how is any of this related to Iraq,the Dinar and the emminent Reval ? I know its IMF talk, but Iraq isn't mentioned in any of it so what"s there to get excited about?

[Webster]

OK this is from 2005 but it says that the public can purchase from CBI, unfortuneately it also states some small print.

http://www.jhu.edu/iaesbe/hankepub_f...nd_etrepdf.pdf

This is almost 2 years old. February 2005. No credibility whatsoever. Too many changes have happened since. I am sure you meant well. Thanks.

[RollsRoyce]

well the people couldnt go pick up their money at the banks because there was a curfew so i would assume a day delay although i was reading something about tuesday earlier so im not sure if they have decided to put it off until then or what.

I wonder sometimes if anyone knows . . . but that's what makes this unique situation . . . "fascinating"/ "mesmerizing" / "addictive" & YES "frustating" . . .

[Pippyman]

Hello All

I think this is a little more exciting that the other IMF press release.... I know Iraq is not part of the GCC..... YET.... Check this out...


IMF Managing Director Rodrigo de Rato Welcomes the Large Investment Programs in the GCC Countries and Highlights the Importance of Planned Monetary Union


Press Release: IMF Managing Director Rodrigo de Rato Welcomes the Large Investment Programs in the GCC Countries and Highlights the Importance of Planned Monetary Union





"Significant progress toward regional integration has already been achieved through elimination of barriers to free movement of goods, services, capital, and national labor; and a common external tariff. All GCC countries continue to have strong macroeconomic fundamentals characterized by large surpluses in the fiscal and external current account positions, credible pegged exchange regimes, and low nominal interest rate environments. I continue to strongly support the objective of establishing a GCC monetary union by 2010. Achieving this important objective within the agreed timeframe will however require accelerating the preparatory work to put in place the necessary institutional framework and infrastructure. The Fund stands ready to assist by providing policy advice and technical assistance in our areas of its expertise."





.

[Dinar-Excited]

I don't know, maybe I took my Stupid pills today-but how is any of this related to Iraq,the Dinar and the emminent Reval ? I know its IMF talk, but Iraq isn't mentioned in any of it so what"s there to get excited about?

Hi Mike5200,

I know it does not mention Iraq but it notes all of the Country's that are a big part of Iraq's economy. It just seems like they are doing what we thought they were doing keeping everything hush hush. I could be wrong but I thought it was interesting.

Dinar-Excited

[bubbajr]

I don't know, maybe I took my Stupid pills today-but how is any of this related to Iraq,the Dinar and the emminent Reval ? I know its IMF talk, but Iraq isn't mentioned in any of it so what"s there to get excited about?

Like I said I am not totally sure, but did they not (China) have a contract, when Sadam Hussein was in power for an oil deal? and that they were going to have to go over the deal again, also they are going to give 3 billion for construction, I may be wrong on the ammount. I also think it also falls under HCL

[RollsRoyce]

Hello All

I think this is a little more exciting that the other IMF press release.... I know Iraq is not part of the GCC..... YET.... Check this out...


IMF Managing Director Rodrigo de Rato Welcomes the Large Investment Programs in the GCC Countries and Highlights the Importance of Planned Monetary Union


Press Release: IMF Managing Director Rodrigo de Rato Welcomes the Large Investment Programs in the GCC Countries and Highlights the Importance of Planned Monetary Union

"Significant progress toward regional integration has already been achieved through elimination of barriers to free movement of goods, services, capital, and national labor; and a common external tariff. All GCC countries continue to have strong macroeconomic fundamentals characterized by large surpluses in the fiscal and external current account positions, credible pegged exchange regimes, and low nominal interest rate environments. I continue to strongly support the objective of establishing a GCC monetary union by 2010. Achieving this important objective within the agreed timeframe will however require accelerating the preparatory work to put in place the necessary institutional framework and infrastructure. The Fund stands ready to assist by providing policy advice and technical assistance in our areas of its expertise."

.

Great find: I don't see that Susie's on / down below / she's probably visiting her Mom . . . so I'll give you a SUSIE / WOOOOOT . . . in her absence . . .

Best . . . RR . . .

[Mike5200]

Like I said I am not totally sure, but did they not (China) have a contract, when Sadam Hussein was in power for an oil deal? and that they were going to have to go over the deal again, also they are going to give 3 billion for construction, I may be wrong on the ammount. I also think it also falls under
HCL



Hi Mike5200,

I know it does not mention Iraq but it notes all of the Country's that are a big part of Iraq's economy. It just seems like they are doing what we thought they were doing keeping everything hush hush. I could be wrong but I thought it was interesting.

Thanks D-E and Bubbajar - makes sense now!

[pipshurricane]

The government of the Iraqi Kurdistan Province has announced a draft oil policy, a model production sharing agreement with oil companies as well as proposed a federal legislation to that effect and has referred it to concerned authorities in the central government for review, relayed al-Ahali.

Noozz.com | IRAQ

[pipshurricane]

05 November 2006 (Bloomberg)

Secretary of State Condoleezza Rice predicted Iraqis will divide control of the country's oil revenue along regional lines while retaining a central government to maintain political unity.

``They are not going to have such a centralized system with the use of that resource, and that's probably a good thing because we do know also that a centralized system around oil tends to produce corruption,'' Rice said today in an interview with ``Political Capital With Al Hunt'' to air this weekend on Bloomberg Television.
Iraqis ``are likely to come up with a system that may be superior to many that are used in the Middle East,'' Rice said at the State Department in Washington.

Rice's comments came as the Iraqi parliament is weighing a law to regulate the country's oil and gas industry, which she said would serve as a ``source of political unity.'' A provision of Iraq's constitution calls for sharing oil revenue ``compatible with the demographic distribution'' of the country.

The oil strategy outlined by Rice suggests a change in U.S. policy, according to Kenneth Katzman, a Middle East analyst for the nonpartisan Congressional Research Service in Washington. Up until now, ``the U.S. policy has been for a strong unified central government,'' Katzman said. ``These remarks would appear to lean more toward those advocating regional autonomy.''

While Rice encouraged oil-money sharing, she rejected calls by some U.S. politicians for Iraq to be partitioned along sectarian lines. ``Most of them are not Iraqis who are saying that,'' Rice said.

Rice Says Iraq Oil Money to Be Split as Country Remains Unified | Iraq Updates