Thread: Iraqi/Dinar news until March 1st, 2007

I was digging around my files and found this article from late December 2006 and can't believe I missed the reference to "currency still in crates" We have been wondering about the lower denominations and this could be a possibility.


Financial calls the state's departments to deal exclusively with the Iraqi dinar
Iraqi national-Luna / Baghdad office /

Ministry called financial all State services whether financed centrally or autonomously or companies Assembly to deal in Iraqi dinars exclusively and said official source in press statements that the ministry, circulated to all these constituencies undergo that the reimbursement remaining from the balances of the Chambers self-and public companies from the foreign currencies including the corresponding the Iraqi dinar and dealing in the local currency exclusively

He added that the Chambers financed centrally will the deposit of the amounts the updated body previously the foreign currency still exist in crates TO THE the current account in the name of accounting department's cash reserves in the Iraqi Central Bank pointing to restricting the of the corresponding in the local currency income final.

Translated version of æßÇáÉ ÇáÇäÈÇÁ ÇáæØäíÉ ÇáÚÑÇÞíÉ - æäÇ: Iraqi National Accord Movement choose 26 new members to join its political leadership

Iraq poised to hand control of oil fields to foreign firms


Baghdad under pressure from Britain to pass a law giving multinationals rights to the country's reserves

Heather Stewart, economics correspondent
Sunday February 25, 2007
The Observer


Baghdad is under pressure from Britain and the US to pass an oil law which would hand long-term control of Iraq's energy assets to foreign multinationals, according to campaigners.Iraqi trades unions have called for the country's oil reserves - the second-largest in the world - to be kept in public hands. But a leaked draft of the oil law, seen by The Observer, would see the government sign away the right to exploit its untapped fields in so-called exploration contracts, which could then be extended for more than 30 years.

Foreign Office minister Kim Howells has admitted that the government has discussed the wording of the Iraqi law with Britain's oil giants.

In a written answer to a parliamentary question, from Labour's Alan Simpson, Howells said: 'These exchanges have included discussion of Iraq's evolving hydrocarbons legislation where British international oil companies have valuable perspectives to offer based on their experience in other countries.' The talks had covered 'the range of contract types which Iraq is considering'.

Control of oil is an explosive political issue in Iraq. Hasan Jumah Awwad al-Asadi, leader of the country's oil workers' union formed after the invasion in 2003, warned this month: 'History will not forgive those who play recklessly with the wealth and destiny of a people.'

With much of the country on the brink of civil war, and a fractious government in Baghdad, campaigners say Iraq is in a poor position to negotiate with foreign oil firms. 'Iraq is under occupation and its people are facing relentless insecurity and crippling poverty. Yet, with the support of our government, multinationals are poised to take control of Iraq's oil wealth,' said Ruth Tanner, senior campaigner at War On Want.

The law, which is being discussed by the Iraqi cabinet before being put to the parliament, says the untapped oil would remain state-owned but that contracts would be drawn up giving private sector firms the exclusive right to extract it.

'There is this fine line, that the wording is seeking to draw, that allows companies to claim that the oil is still Iraqi oil, whereas the extraction rights belong to the oil companies,' says Kamil Mahdi, an Iraqi economist at Exeter University. He criticised the US and Britain, saying: 'The whole idea of the law is due to external pressure. The law is no protection against corruption, or against weakness of government. It's not a recipe for stability.'

Simpson said 'This confirms the view of those who have said all along that the war in Iraq was not about weapons of mass destruction, but the control of the levers of mass production ... This is a cartel carve-up by the occupying powers.'

Oil production in Iraq has slipped to below two million barrels a day - less than before the invasion - and Britain and the US argue that Iraq urgently needs foreign investment to boost output. But Ewa Jasiewicz, of campaign group Platform, said all the other Gulf states had kept production in government hands. 'Iraq could borrow the money to develop its industry, and pay that off through oil revenues.'

2007 press releases
The 2007 Iraqi Budget – Implementing the New Way Forward
Baghdad,Iraq
February 14, 2007



Historic Budget Passes with Broad Support
On February 8, Iraq’s Council of Representatives passed a $41.1 billion 2007 budget by an overwhelming majority. The budget enjoyed support from political representatives of all communities in Iraq.

* Historic budget for Iraq with more than $40 billion in Iraqi money helping to meet Iraqi needs. Over $10 billion is dedicated to reconstruction and capital investment this year.
* Overall budget represents a 21 percent increase over the 2006 budget.


Implementing the New Way Forward

* Passage of the budget represents an important component of implementing the new way forward in Iraq, demonstrating that the Iraqi people are taking the lead in determining their future.
* This budget underpins a joint Iraqi-U.S. economic transition effort that complements the joint security strategy and promotes both short-term economic activity and sustainable economic progress.


Boost to Baghdad Security
The budget, providing for $7.3 billion for security-related expenses, is an important boost to the counterinsurgency effort at the start of the Baghdad Security Plan.

* Represents a 35 percent increase over security-related funding last year.
* To complement direct funding for security, the Government of Iraq has also allocated $150 million for demobilization of militias and other combatants. The budget will support economic opportunities and reintegration for militia members and potential recruits.


Iraqi Money Funds Iraqi Reconstruction

* Iraqi Government is moving forward on commitments outlined by President Bush and Secretary Rice to fund $10 billion for reconstruction this year.
* Budget includes over $10 billion for capital investment programs for:
o Ministries charged with construction and rehabilitation of vital infrastructure, like the oil ministry which will receive $2.4 billion.
o Provincial Governments which will receive $2.4 billion for execution of decentralized investment and reconstruction plans.
* The Iraqi Government will immediately release 10 percent of the budget, including to the provinces.


Transitioning to Self-Reliance

* This budget puts Iraq on the path to strengthen Iraq’s economy with Iraqi resources, capacity and private sector growth.
* Iraqi efforts emphasize job creation – putting more Iraqis to work to strengthen communities and families.
* The Government of Iraq is intensifying its efforts to spend its money in communities, impacting Iraqis’ daily lives.
o Improving budget execution for all chapters of the budget, but especially reconstruction and maintenance of infrastructure, is an Iraqi priority.
o The United States will work closely to help support Iraqi initiatives and reforms intended to accelerate Iraqi spending.

Iraqi military arrests top terrorist north of Baghdad
MIL-IRAQ-ARREST
Iraqi military arrests top terrorist north of Baghdad

Baghdad, Feb 24 (KUNA) -- U.S. and Iraqi forces have captured a prominent terrorist leader from the Islamic Army (Al-Jaish Al-Islami) organization during a raid the force was conducting north of Baghdad, Iraqi Director of National Command Center from the Interior Ministry Brigadier Albdul-Kareem Khalaf said on Saturday.

Khalaf told reporters Iraqi forces along with U.S air support executed a raid attack in the early hours today on a base which belongs to the terrorist organization in the town of AL-Mashahed, north of Baghdad.

Khalaf added the attack forces were able to kill as many as ten terrorists during the raid and capture its leader Saad Khalifah.

However, the Iraqi official did not disclose exact losses or estimates about the extent of damage caused by the terrorist organization's attack.

In a different incident, the Iraqi police said today that one mortar shell was targeted against the Al-Shaab bridge in Al-Shulah area, which resulted in injuring ten civilians nearby.(end) ahh.

Verbatim
Bachmann: “I am sorry if my words have been misconstrued”
February 23rd, 2007 – 4:15 PM by Eric Black

U.S. Rep. Michele Bachmann is declining to be interviewed about her statement that an agreement was in place to divide Iraq and create an Iranian-controlled terrorist safe haven there.

But she has issued a statement in which she says she’s “sorry if my words have been misconstrued.”

In the statement, Bachmann gives a new, far more uncertain vision of the possible bad consequences of an increase in Iranian influence over parts of Iraq.

The statement is framed as a clarification of Bachmann’s earlier statement, made Feb. 9 to Larry Schumacher of the St. Cloud Times. But the new statement actually retracts most of what she said on the subject to Schumacher. (Here’s a substantial excerpt from that statement, if you don’t want to listen to the full audio.)

In the new statement, there is no reference to a decision that’s already been made, by Iran and unnamed other parties, to partition Iraq.

Rather, Bachmann alludes to the idea of partitioning Iraq that she says has “intermittently considered,” not by Iran but by U.S. policymakers or others commenting on what U.S. policy should be in Iraq.

On Feb. 9, Bachmann said: “There’s already an agreement made” by Iran and some other unspecified party to create an Iranian-controlled zone in which terrorism would flourish.

The new statement replaces that with: “It is difficult to ascertain Iran’s intentions towards Iraq.”

Bachmann told Schumacher with certainty that Iran planned to establish in Iraq “a terrorist safe haven zone where they can go ahead and bring about more terrorist attacks in the Middle East region and then to come against the United States.”

In the new statement, she expresses a concern that “we may very well see a de facto partition in which the western Anbar Province continues to house and develop terrorists.”

I am still requesting an interview with Bachmann to clarify the differences between the statements.

Posted in Main | 277 Comments »
Verbatim
Bachmann on Iran: “There’s already an agreement made. [Iran is] going to get half of Iraq and that is going to be a terrorist safe haven zone.”
February 23rd, 2007 – 11:29 AM by Eric Black

U.S. Rep. Michele Bachmann claims to know of a plan, already worked out with a line drawn on the map, for the partition of Iraq in which Iran will control half of the country and set it up as a “a terrorist safe haven zone” and a staging area for attacks around the Middle East and on the United States.

Michele Bachmann | Chuck KennedyShe said this in a taped interview with St. Cloud Times reporter Lawrence Schumacher, which is available as a podcast. (If you go to this link, look down on the right for “download Capitolcast.”)

There are other interesting and provocative statements in the interview. But the most amazing is at the end, when the discussion turned to Iran and Iraq, Bachmann’s reasons for sticking with the stay-until-victory camp, and her beliefs, stated as established fact, that Iran has reached an agreement to divide Iraq and set up a free-terrorism zone.

Here’s the extended excerpt:

“Iran is the trouble maker, trying to tip over apple carts all over Baghdad right now because they want America to pull out. And do you know why? It’s because they’ve already decided that they’re going to partition Iraq.

And half of Iraq, the western, northern portion of Iraq, is going to be called…. the Iraq State of Islam, something like that. And I’m sorry, I don’t have the official name, but it’s meant to be the training ground for the terrorists. There’s already an agreement made.

They are going to get half of Iraq and that is going to be a terrorist safe haven zone where they can go ahead and bring about more terrorist attacks in the Middle East region and then to come against the United States because we are their avowed enemy.”

Bachmann did not say how she knew about this plan, nor with whom Iran has made this deal.

The Big Question is seeking an interview with Bachmann to flesh out her comments. I have received a tentative commitment for an interview this afternoon and will post what I get.


I think this woman needs to join Britany Spear in Rehab A republican on top of it...sheeezzeee

Don't shoot the messenger Just thought we should see how STUPID some of the people we have in government are

WE NEED OUR RV NOW!!!!!

In light of what was posted earlier i remember that it was posted long ago from contracters or soldiers on the ground in iraq that at the airport in baghdad there was a sign that said no dinars of 10,000 or more to leave the country. Yes DINARS. not 10000 dollars worth but dinars as in 1 10k note to leave the country. this was said or repoted several years back. Can any one confirm or know of what im talking about. For this to come up again and for it to realy be inforced is big news to me. I feel as if this is true we at at the end of this game Especialy if this has now just become a law as reported by somebody on another board. This could be huge. Also whats going on with the handouts reports of those being handed out were given 4-5 days ago... RR where you at can you or ANYONE confirm this and if so was it a check that was POST DATED???? This is KEY... If they handed it out a few days ago these people are starving RIGHT??? Do I stand corect??? If I do woulndnt they have already spent there dinar by now as 1000000 or 2000000 does not go far at todays exchange rate. Tank

Independent Online Edition > Business News

Oil bonanza stays in Western sights after cosmetic change to Iraqi deals
By Tim Webb
Published: 25 February 2007
The final draft of Iraq's controversial hydrocarbons law has been submitted to the Iraqi Cabinet ahead of its presentation to Parliament for ratification next month.

Iraqi officials have attempted to defuse the backlash caused by last month's revelation in The Independent on Sunday that the law would grant foreign oil companies a large slice of the country's oil reserves.

The final draft has quietly dropped the term "production-sharing contracts" used in earlier drafts. These contracts involve energy companies paying for the initial investment in an oil field but reaping bigger returns if their gamble pays off.

The proposed introduction of production-sharing agreements in Iraq is controversial because they are usually used in challenging regions where oil is difficult and expensive to access, such as the Amazon. By contrast, much of Iraq's 112 billion barrels of proven oil reserves - the second-largest in the world - has already been discovered and is cheap to drill.

But the draft, seen exclusively by The Independent on Sunday, still proposes handing over exploration and production contracts for up to 32 years - far longer than most deals between companies and goveernments.

The draft empowers the new Federal Oil and Gas Council to set the exact terms of each contract, but given Iraq's parlous economy and security uncertainties, the terms offered are likely to be very generous. Greg Muttitt, a campaigner from lobby group Platform, said: "This is a huge amount of time. If contracts are signed in the coming months... there will be a massive risk premium, and the Iraqi side would be negotiating from a position of extreme weakness. As a result, the terms would be highly profitable for the companies, and Iraqis would be unable to change them for 20 years."

Other differences between previous drafts include the omission of a requirement for the terms of each contract to be published within two months. Now, according to Article 36, only non-specified "financially significant" details need be published, and no timeframe is given.

Iraqi unions have expressed their opposition to the proposed law. In a speech earlier this month to a conference, Hassan Jumaa, head of the Federation of Oil Unions, said: "We strongly warn all the foreign companies and foreign capital in the form of American companies against coming into our lands under the guise of production-sharing agreements."

Foreign oil firms already operating in Iraq are anxious not to antagonise unions as some may have links to insurgents who could target oil installations.

David Horgan, managing director of Petrel Resources, an AIM-listed oil company focused on Iraq, said contracts could be renegotiated by the government.

"The term 'production-sharing agreement' used in previous drafts has been dropped because of the controversy the term caused. They have built quite a lot of flexibility into the law. It makes sense to reward companies who start work now when the security situation is bad. The terms can always be made less attractive in a few years when things calm down."

He added that the Iraqi government had changed its approach in recent weeks over the hydrocarbons law. Rather than trying to force it through, particularly in the face of opposition from the Kurds in the north seeking more control over their oil resources, officials have attempted to achieve consensus within government, he said.

Last weekend, past and present officials from the oil ministry met in a hotel in Jordan to hammer out the draft's final details.

Announcement No.(870)

D.G. of Foreign Exchange Control

The 870 daily currency auction was held in the Central Bank of Iraq day Sunday 2007/ 2/ 25 so the results were as follows :

Details Notes
Number of banks 15 -----
Auction price selling dinar / US $ 1282 -----
Auction price buying dinar / US $ ----- -----
Amount sold at auction price (US $) 50.450.000 -----
Amount purchased at Auction price (US $) -----
Total offers for buying (US $) 50.450.000 -----
Total offers for selling (US $) ----- -----









D.G. of Investments

Daily price Bulletin buying and selling Sunday 2007/2/25

Currency
Currency Code
Selling Price In IQD
Buying Price In IQD

US Dollar
USD
1282.000
1281.359

European Euro
EUR
1687.625
1686.781

British Pound
GBP
2517.720
2516.461

Canadian Dollar
CAD
1106.508
1105.955

Swiss Franc
CHF
1039.572
1039.052

Swedish Krona
SEK
181.658
181.568

Norwegian Kroner
NOK
209.320
209.215

Danish Krone
DKK
226.458
226.345

Japanese Yen
JPY
10.586
10.581


The above price represent reference rate and does not from any commitment on the Central Bank of Iraq.

Note: The prices of the bulletin issued on Sunday will adopted for Monday also due to the weekend in New York .

Political first : Heads of the provincial councils pledge to guarantee the security of holding T. global wishing to invest

In a meeting with Oman
Karbala morning

The heads of a number of district councils to provide guarantees security of the State and international companies wishing Balastth Mar in Iraq. He assured the heads of councils through the pw happen in Amman with representatives of donor countries and companies

That many of the provinces experiencing a situation of stability the security allows for the creation of the projects. He said Abdel-Aal Yasiri, head of the Karbala Governorate Council (morning) : that meeting led to the willingness of the donor countries Walsh Arkat Organization for the implementation of several projects in Iraq Loja Sah in the governorates safe. Yasiri, and pointed out that the delegation the provincial assemblies of the donor countries to explain what is happening in Iraq, and that there are safe provinces have the potential The desire to establish investment projects in the border only Dareh, pointing out that these countries were apprehensive of the coming j Iraq because of the security situation.

ÌÑíÏÉ ÇáÕÈÇÍ - ÑÄÓÇÁ ãÌÇáÓ ÇáãÍÇÝÙÇÊ íÊÚåÏæä ÈÖãÇä Ããä ÇáÔÑßÇÊ ÇáÚÇáãíÉ ÇáÑÇÛÈÉ ÈÇáÇÓÊËãÇÑ

Political first : (independent) reaffirms its commitment to building a new Iraq based on Daym Crate

Shahrastani : the government is determined to succeed and to help the people of steadfastness
Hussein al-Najaf

The head of block (independent), Dr Hussein Alchehrestan j faith bloc, that Iraq must be built on the foundations of Dimker Ater only country in the Middle East region that the bloc has worked since its inception to recognize south viewpoints.

He said at the bloc (independent) to the provinces and the center South, which was held in the city of Najaf yesterday. We do not turn to the field of biomass to reach ALMAO reality and responsibilities.

Shahrastani and reviewed in the conference, which was attended by the Minister of Labor and Social Affairs Mahmoud Al-Radhi and ones Alpes Ladawi deputy in the parliament of the Iraqi bloc (manipulation Tekalon) and a large number of officials, intellectuals and notables in pw Serbian Najaf. in addition to members of the Secretariats of the bloc (independent ) in the central and southern governorates.

The current Iraqi political scene, He expressed regret for nests and the discovery of weapons caches and invoked e used in terrorist operations, , found in the offices of parties participate in the governance process and in a for political. Emphasizing that it helps to undermine the political process and the imposition of law in Iraq. .It was not seeing the cooperation required from the illiterate Rkih on the ground for the success of the security plan, despite the statements of the American president eager to confirm that a Iraq and

Pointing out that the lack of training and a processing to sufficient for the Iraqi forces to build security forces capable p I maintain security and stability, As the Iraqi forces suffer from crises in Altj Hayes and the most basic of weapons, since they do not have even planes to carry Alhiliukpetr coverage air Endeavors.
.He cited the issue of the protection of vital installations forces Mha not to his talk, they were trained and armed by the Americans, then hit the oil pipeline and the protection of the robbers.

.He said : The support of the neighboring countries to the movements Alarh his father does not believe that the Iraqi people's right to choose and in self-determination, aimed at foiling the security plan, The disruption of a plan to impose security and law, the impression that this work will lead to a fall of the government the Iraqi.

He stressed the government's determination to do its job, however, explained the government could not however wealthy self-confidence Wa salvation succeed without the people to stand firm Sabra challenged to a part, "adding," We have found people in Chi R. positions ahead even treacherous to know ray Dah true

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