Thread: Iraq/Dinar News. (before Jan.20,2007)

The official start of winter recess of the Parliament of Kurdistan
Jayman favor of
Arbil - (Voices of Iraq)
A source in the Parliament of Kurdistan media that the Parliament began today, Tuesday, the official winter vacation, which will continue until the first of March.
Translated version of http://www.aswataliraq.info/

Originally Posted by Hope Full

Response : Al-Sunaid expected rise in the rate of the Iraqi dinar before the middle of this year
Quote :
Originally sent by Iraqism
Brother nawrs55 think that the rise will be fully remotely controlled by the Central Bank and not to a security plan or significant influence over Baghdad. The Central Bank and the assistance of the foreign exchange reserves of the dollar and of (12 billion dollars), almost can improve the value of the Iraqi dinar in stages and the value of 2 dinars or more each meeting auction managed by the World Bank for the sale or purchase of the dollar. The goal of the bank is to reach a balanced price helps to stop inflation and help to improve the living situation of the Iraqi people, and this number may be unlicensed in the current year to 1000 dinars per dollar. In the coming years, in the case of the continuation of the state of inflation, the Central Bank policy will improve the exchange rate of the dinar again, and may have a new goal of close to 700 dinars per dollar, the outlook for 2010 was the price of the Iraqi dinar was very similar to the dollar. I hope that I have answered your question, thank you.
And when will the circulation of the dinar Ae level of forex Iraq and its people deserve more from Head. A

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I can't get the link to work. This is someones opinion or based on facts?

Well, if it takes until 2010 then it takes until 2010. Spend 1000 today and reap a million in 3 years - sounds good to me. Problem is they've told the world and who wouldn't do this? The time to adjust the rate is now. I know... we all know and agree but talking common sense over there is like

Economists : (2007) will witness a qualitative leap in the implementation of service projects
Baghdad Haider spring
A number of economists that the general budget for 2007 was compiled in hope of achieving good results on the road to building the right, and pointed out that the security aspect is the President, to achieve comprehensive development explosive. Members of the budget and allocations important to the security only evidence the government's determination to achieve stability and begin reconstruction of the country.


Economists and experts stressed that the projects of the physical character, service and investment is the most important thing in the accounts of the general budget for this year, stressing the importance of such projects through the expenditure of funds allocated to it in the vital areas that are benefits to society in general.
They told their conversations in the (morning) on the security side, the bulk of the space budget, since the implementation of projects in various forms needed to stabilize the security first and foremost, otherwise the implementation mechanism would encounter many difficulties had prevented the implementation of the decree during this year. He pointed out that the launching of the implementation of projects creating job opportunities may limit the decline of terrorism and preparation.
Economic expert Albandar Abdullah said : Balancing this year is to focus more energy than last year, especially on service projects. He also said that the general budget you go this time and considerable impact on investment spending. Any operational expenditure and investment expenditure. Formed increase of 25%, which was the form of more importance than the other areas of expenditure.
The Albandar out that Iraq is one-sided economy depends on immediate returns from the export of oil in the President, and with it the stability of oil prices in world markets, and increased other income from non-oil exports, it would, in the interest of supporting the budget and the implementation of the projects.
He hinted that the bulk of the amount of the budget for this year, dedicated to the field of security, and provide as much security and stability, other sectors will benefit from greatly in the implementation of their investment and architectural and other services, which is what we aspire to be achieved in tribute to the support of this trend.
For his part, it Ilaq Mahdi, head of the Central Agency for Statistics in the Ministry of Planning said that the issue of the housing and infrastructure is a key issue that must follow up its implementation in the light of what has been allocated from the funds in the budget of the year 2007, said Ilaq : I think the greatest percentage of this year's budget went to the issues of security and defense, and this is a good thing because it serves the interests of the implementation of the remaining projects. The amounts and the rest went to basic services needed by the citizens.
Ilaq He stressed the importance of housing projects in particular that the amounts allocated to it
The good compared to what Iraq needs at this time, considering that the matter of the things that will contribute to the task and very much to absorb unemployment rampant in Iraq through the operation of the greatest possible of the workforce. Stressing that the large number given to this aspect if properly exploited and the implementation of projects through which it would achieve a quantum leap in terms of achievement.
And on the implementation of the projects said Ilaq, with respect to the provinces, it is independent, with its own plans and programs, which are in terms of the implementation of projects and in respect of ministries, the ball is now in striking distance which is responsible for implementing the plans and achieving the best results in the highest possible to judge only by the results they Senterkbha.
Economic expert Manaf Reza Ayub jeweler stresses the importance of the shift funds to the general budget of citizen services needed education, health, security and the reconstruction and building of housing units and many other services which are urgently needed by the citizens. He pointed out that investment spending is the highest it brought to the budget for this year.
He says jeweler. There are plans for the maintenance of investment in each ministry, as well as provincial and the light of the financial allocations granted but if we go back years or more behind, we find that the rate of expenditure as well as the achievement is very low, because of the security situation addition to the existence of other obstacles in the form of some of the obstacles and red tape in government departments, such as the opening of the tenders and bids on government departments.
, That issue is done properly and need some adjustments legal and administrative terms of this law hampered many investors.
The jeweler adds : I find it necessary to focus attention and projects to develop the oil sector, in order to obtain the highest efficiency and productivity and thus had more resources.
The jeweler to accompany the importance of the project implementation process is no less important than the method of implementation is (awareness reduce spending) and keenness on the mechanism for the disbursement of funds, and the need to develop plans and mechanisms for achieving higher rates of achievement.
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Originally Posted by webinvestor

This is opinion or based on facts?

Well, if it takes until 2010 then it takes until 2010. Spend 1000 today and reap a million in 3 years - sounds good to me. Problem is they've told the world and who wouldn't do this? The time to adjust the rate is now. I know... we all know and agree but talking common sense over there is like

it's an opinioin I believe of the admin of the forum
Translated version of http://www.iraqism.com/vb/

aghdad, Jan 14, (VOI) - Iraqi Prime Minister Nouri al-Maliki on Sunday called on parliament to accelerate adoption of the draft budget for 2007 in a bid to avoid postponing vital projects.
"You are all aware of the exceptional circumstances and security pressures Iraq is going through, not to mention the accumulative heavy burdens of the former eras on the government budget," al-Maliki said in a statement read by Parliament Speaker Dr. Mahmoud al-Mashhadani upon the inauguration of Sunday's session.
Maliki said: "The offered budget is based on clear realistic considerations. Iraq is about to build its armed forces with all its formations in preparation to receive the security file from the multinational forces by the end of this year."
He referred to "the state's commitment to spend on the ration cards system and the social safety network despite their financial burdens on the budget."
Maliki pointed out that the 2007 budget has allocated 10 billion dollars for investment, the largest sum ever in the history of Iraqi budgets to be appropriated for investments.
"This year's budget does not meet all the government's ambitions. We hoped that the largest sums would be channeled into the field of investment, but it is a realistic budget that took into consideration Iraq's exceptional circumstances," the Iraqi premier said.

Originally Posted by Hope Full

aghdad, Jan 14, (VOI) - Iraqi Prime Minister Nouri al-Maliki on Sunday called on parliament to accelerate adoption of the draft budget for 2007 in a bid to avoid postponing vital projects.
"You are all aware of the exceptional circumstances and security pressures Iraq is going through, not to mention the accumulative heavy burdens of the former eras on the government budget," al-Maliki said in a statement read by Parliament Speaker Dr. Mahmoud al-Mashhadani upon the inauguration of Sunday's session.
Maliki said: "The offered budget is based on clear realistic considerations. Iraq is about to build its armed forces with all its formations in preparation to receive the security file from the multinational forces by the end of this year."
He referred to "the state's commitment to spend on the ration cards system and the social safety network despite their financial burdens on the budget."
Maliki pointed out that the 2007 budget has allocated 10 billion dollars for investment, the largest sum ever in the history of Iraqi budgets to be appropriated for investments.
"This year's budget does not meet all the government's ambitions. We hoped that the largest sums would be channeled into the field of investment, but it is a realistic budget that took into consideration Iraq's exceptional circumstances," the Iraqi premier said.

Funny we have th PM pushing and the CBI govner all going in on the same week to parliment????

12 Trillion Iraqi dinar, Iraq's Budget This Year
January 13, 2007

In a press statement Baban said that the mentioned amounts delivered as 3 trillion iraqi dinar for oil ministry projects to rehabilitation oil sector, while electric ministry specifics amounted 1 trillion and 745 billion dollars for proving electric energy in the state.


He added that they specified 430 billion iraqi dinar for health ministry and 425 billion iraqi dinar for municipality ministry besides 422 billion iraqi dinar for housing ministry and other 336 billion iraqi dinar for education sector.


On the other hand, he mentioned that there were many situations forced such conditions which couldn't pass over like the high expenses for security and defense sector estimated 10 trillion iraqi dinar besides the high salaries after the falling of the ex-regime.

(Source)AlSabah

SORRY IF ALREADY POSTED

The Iraqi dinar and floating the dollar in the structure of the national economy
January 05, 2007

Thus the rolling Iraqi Monetary (nominal value) specified by the law has become a criterion for exchange transactions, withdrawal and the international circulation according to system Gold rule; although, it was related to the British pound before the revolution of July 14th, 1958, especially in terms of credit and foreign transfers, as it has a metal cover coupled with stability. After the liberation of Iraq from the ring of the (sterling Pound), the Iraqi dinar remained as a cash unit (with real value) standing on its own compared to international rates.


In spite of the many shocks that hit the developing country in conditions of political and economic changes led to the dangerous decline of many of those currencies, like what happened between Iraq and its neighbor Iran in 1980 until 1988 of a devastating war sapped the human energies and infrastructure of both countries, the Iraqi dinar was not affected much and managed to keep its true value and relative stability throughout the war period. But after the government took the wrong procedure of issuing millions of dinars of the 25 note, the Iraqi dinar had become no more than a (commercial paper) in its (nominal value) and this sinister phenomenon which was the result of the misconduct of the government, then, paved the way for the American dollar to monopolize the Iraqi market. Since then, the Iraqi dinar remained incurably ill because the performance evaluation of the Iraqi monetary, particularly in the year 1994 after the penetration of the dollar, revealed that the dinar had no real value as an Iraqi exchange measuring unit against the dollar, despite the fact that Iraq has enormous oil wealth more than any country in the world, especially European countries, in terms of trade credit and cash deal.


The American dollar monopolized the Iraqi economic policy and the dinar has not been able to stand up to it after the removal of the former regime and the loss of control by the State over its economic and commercial structures. How will the Iraqi currency be stabile when it is represented by the ill dinar which can not be cured as long as the floating dollar overwhelms the whole Iraqi market; the Iraqi seller and the buyer deal only by it. Who is responsible for this decline?


A question put before the Ministry of Finance, as the Minister stated previously on the need for (evaluating the Iraqi dinar) and called for its activation against the American dollar. Will the Iraqi parliament seek to lay the evaluation foundations of a new monetary unit all over again? Or will the dinar remain weak against the dollar? And to what level will the Iraqi economy deteriorate if its spinal column, represented by the dinar, can not withstand to be straight up any more?

(Source)AlSabah

Al-Sunaid expects rise in the Iraqi dinar price during the middle of 2007
January 13, 2007

The deputy on the United Iraqi Alliance list, Hassan Al-Sunaid, expected during a meeting of the Iraqi Parliament that the Iraqi dinar exchange rate will reach 1200 dinar to the dollar at mid-year, while the price of one dollar hit 1480 IQD last November.

Al-Sunaid's statement came during a session of the Parliament to discuss the general budget in Iraq during the year 2007, and it was attended by the Minister of Finance Bayan Baqir al-Zubaidi and a number of his advisers.

It is noteworthy that the Iraqi dinar has been rising gradually and continuously, in its value of exchange against the dollar since the Iraqi Central Bank adopted a new monetary policy to deal with inflation in the 13 last November.

He attributed the "causes of inflation to the disproportionate rate of the nominal level of the Iraqi dinar with its real one" which prompted the bank to raise the value of the dinar since November last year to reach during the current January to about 1320 dinar per dollar.

The expectations of Al-Sunaid of the consistent rise of the dinar to 1200 dinar to the dollar come amid widespread demand of investors and persons dealing in Iraqi dinar instead of the dollar.

(Source)AlSabah

Originally Posted by webinvestor

I can't get the link to work. This is someones opinion or based on facts?

Well, if it takes until 2010 then it takes until 2010. Spend 1000 today and reap a million in 3 years - sounds good to me. Problem is they've told the world and who wouldn't do this? The time to adjust the rate is now. I know... we all know and agree but talking common sense over there is like

by the time it gets to 1:1 in 2010 there could be a change in currency anyway