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

The presidency confirmed the safety of the Vice President Dr. Adel Abdel Mahdi
February 26, 2007February 26, 2007

اصدر ديوان رئاسة الجمهورية بيانا بشأن الاعتداء الإرهابي الذي وقع في وزارة البلديات و الأشغال ال عامة خلال تواجد نائب رئيس الجمهورية الدكتور عاد ل عبد المهدي في الوزارة، و فيما يلي نص البيان:The Office of the President of the Republic issued a statement on the attack the terrorist attack in the Ministry of Municipalities and Public Works general through the presence of the Vice-President of the Republic Dr. returned Abdel Mahdi told in the ministry, and statement reads as follows :

"بينما كان فخامة نائب رئيس الجمهورية الدكتور عا دل عبد المهدي يحضر حفل تكريم الموظفين النموذجيي ن في مقر وزارة البلديات و الأشغال العامة في بغداد ، حدث انفجار أدى إلى استشهاد ثلاثة من موظفي الوز��رة و جرح آخرين. و لم يصب الدكتور عبد المهدي إلا بخ��وش بسيطة ، و هو الآن يمارس عمله اليومي المعتاد في مكتبة بب��داد."While the Vice President of the Republic, His Excellency Dr. usage del Abdel Mahdi attend a ceremony to honor the staff Alnmouthjee n in the headquarters of the Ministry of Municipalities and Public Works in Baghdad , an explosion occurred led to the martyrdom of three staff members Iluz danger and wounding others. Houllier did not, Dr. Abdel Mahdi only saws the surface of a simple , and is now practicing his normal daily in his office 99-13784 Dade.
إن هذا العمل الإجرامي لن يثنينا عن ملاحقة الإرها بيين و الصداميين، و المضي قدما في مسيرتنا الديمقراطية و بناء العرا ق الجديد، و كلنا ثقة بأن العراق و شعبه سينتصر على أعدائه الأ شرار.This criminal act will not deter us from pursuing isolate Bien and Sadamiin, and move forward in our democracy and building Ara new s, and we are confident that Iraq and the triumph over his enemies but Charar.
و إننا إذ نعزي عوائل الشهداء بمصابهم، نسأل الله سبحانه و تعالى أن يمن عليهم بالصبر و الس لوان، و يدخل شهداء العراق جناته الفسيحة، و يمن على المجروحين بالشفاء العاجل.And as we consoled the families of the martyrs Bmassabhm, we ask God Almighty to be gracious and patient and to Alice for that, the martyrs of Iraq and enter paradise spacious, Yemen and the wounded a speedy recovery.
كما يقدم فخامة نائب رئيس الجمهورية الدكتور عادل عبد المهدي، شكره إلى المراجع العظام و المسؤولين و أبناء الشع ب الذين سارعوا بالاتصال للاطمئنان على صحته، سائلين المولى القدير ان يحفظه و سائر أبناء الشعب من كل مكروه.As the Vice President of the Republic, His Excellency Dr. Adel Abdul-Mahdi, thanks to the authorities and officials of bones and the Sha b, who lost contact to check on his health. asking the Lord God to protect it and other people each hated.

ديوان رئاسة الجمهوريةThe Office of the President of the Republic
بغداد في 26 شباط 2007."Baghdad in February 26, 2007. "
Translated version of http://www.sotaliraq.com/

News : President Talabani spent quiet day in the city of a wing for Hussein, the results of the tests are good and reassuring
February 26, 2007February 26, 2007

زار جلالة الملك عبد الله بن الحسين عاهل المملكة ا لأردنية الهاشمية اليوم 26-02-2007 فخامة الرئي س جلال طالباني في مدينة الحسين الطبية بعمان للاط مئنان عليه و تمنى له الصحة و العافية.Visited His Majesty King Abdullah bin Al-Hussein, the Hashemite Kingdom of a the Jordanian Hashemite today, 26-02-2007 His Excellency visions S. Jalal Talabani in the Hussein Medical City in Amman for Late Menan him and wished him health and wellness. و أعرب الرئيس طالباني من جانبه عن خالص الشكر و الا متنان لما لقيه في الأردن الشقيق من عناية فائقة و ض يافة كريمة و قد أمضى الرئيس طالباني يوما هادئا في جناحه بمدينة الحسين و استمر إجراء الفحوصات التي كانت نتائجها جيدة ومطمئنة.And President Talabani of his sincere thanks and only Matnan to have received in Jordan brother of careful consideration and z Jaffa has spent a dignified and President Talabani quiet day in wing City Hussein and the holding of tests results were good and reassuring. و نصح الأطباء المعالجون ببقاء فخامته لفترة تحت ا لرقابة الطبية.And doctors advised doctors to stay for a period of His Excellency under a the medical control.
و ينفي مكتب رئيس الجمهورية نفيا قاطعا ما تناقله ب عض وسائل الإعلام عن إجراء قسطرة للرئيس طالباني أ و وضعه في قسم العناية المركزة مؤكدا أن هذه الأخبا ر لا أساس لها على الإطلاق.And denying the Office of the President categorically denied the PFLP b biting, and the media about a catheter to President Talabani, a , and placed in the intensive care unit, stressing that this Alajba R. has no basis at all.
Translated version of http://www.sotaliraq.com/

Originally Posted by Inscrutable

Iraqi vice president wounded in bombing, 6 killed - Yahoo! News

By Ahmed Rasheed and Claudia Parsons
28 minutes ago



BAGHDAD (Reuters) -Iraq's Shi'ite vice president and a cabinet minister were wounded in an apparent assassination attempt on Monday when a bomb killed six people at a ministry in Baghdad where they were attending an official ceremony.


While militants defied a new security crackdown in Baghdad, the Iraqi cabinet made a politically significant move by endorsing a draft oil law and sending it to parliament for approval, a senior Iraqi oil official told Reuters.
Passing an oil law that equally distributes Iraq's oil wealth among its warring ethnic and sectarian communities has been a key demand of the United States to keep its support for Shi'ite Prime Minister Nuri al-Maliki's government.

Police sources said Public Works Minister Riad Ghareeb, also a Shi'ite, had been seriously wounded when a bomb hidden at a ministry's meeting hall exploded. Aides to Vice President Adel Abdul-Mahdi said he escaped with light wounds caused by shrapnel.

AWESOME news. Signed off by the cabinet and sent to parliament. I think after reading the conflicting news reports over the weekend we were all a little concerned at how "done" the deal was. The fact that the agreement was worked out with the Kurds is huge IMO. Let's all hope that this thing doesn't get snagged up in parliament. Will the 3 readings be required? We should know soon enough. They do not come back until 3/1, if I am not mistaken.
You gotta love progress!!

From the Baghdad Satellite Channel:
Translated version of http://www.baghdadch.tv/denar.htm

نور علي _بغدادNour on the Baghdad -

أكوام من العملة الوطنية العراقية تعرض يوميا ل لبيع والشراء في شوارع بغداد، فالحديث عن الدينار العراقي وتذبذب سعر صرفه في ال سوق أحد أبرز الاهتمامات التي تتصدر أحاديث العرا قيين اليومية، وهم في هذا باتوا أقرب إلى الانشغال والشغف بصعود ا لأسعار وهبوطها بمستوى قلقهم من تدهور الأحوال ال أمنية في بلادهم .Piles of the national currency the Iraqi daily Al the sale and purchase on the streets of Baghdad. talk about the Iraqi dinar and the fluctuation in the rate of exchange market one of the most prominent concerns at the forefront of discussions Ara Kien Journal in this they are closer to the concern and fascination with the rise of a for prices and the level of landing concern at the deterioration of conditions security in the country.






ويأمل العديد من العراقيين في استعادة عملتهم لقي متها السابقة وقوتها التي كانت عليها خلال السبعي نيات والثمانينيات، حيث بلغ سعر الصرف الرسمي للدينار أكثر من ثلاثة دو لارات للدينار الواحد، في حين تدهور السعر ليصل قبل احتلال العراق إلى أكث ر من ألفي دينار للدولار.It is the hope of many Iraqis in restoring currency was Mya Yugoslavia and strength they were during Alsafi intents and 1980s, as the official exchange rate of the dinar is more than three de lari one of the dinar, while the deterioration of the price up by the occupation of Iraq to Ach R. thousand dinars to the dollar.



الدينار العراقي شهد ارتفاعا تدريجيا متواصلا في قيمة صرفه امام الدولار منذ ان قرر البنك المركزي ا لعراقي اعتماد سياسة نقدية جديدة لمعالجة التضخم في ال 13 من تشرين الثاني _نوفمبر الماضي.The Iraqi dinar has been rising gradually and continuously in the purely value against the dollar since the Central Bank decided to a Iraqi adoption of a new monetary policy to deal with inflation in the 13 November-last November.



وعزا البنك "أسباب التضخم الى عدم تناسب سعر صرف ال دينار العراقي الاسمي مع مستواه الحقيقي" مما حدا بالبنك الى رفع قيمة الدينار لتصل خلال كانون الثا ني _ يناير الى نحو 1300 دينارا للدولار الواحد.He attributed the "causes inflation to the disproportionate rate of the Iraqi dinar with the nominal level of the real, "which prompted Bank to raise the value of the dinar up through December Althea Ni-January to about 1300 dinars per dollar.



وتأتي توقعات المراقبين اليوم باستمرار ارتفاع ا لدينار الى قيمة 1200 دينار للدولار وسط اقبال واس ع للمستثمرين والاشخاص للتعامل بالدينار العراق ي بدلا من الدولار الامريكي.The observers anticipated a steady rise today for dinars to the value of 1200 dinars to the dollar amid demand WAS p for investors and people to deal dinars Iraq j instead of the dollar.



تقلبات الدينار العراقي مؤشر عام على حالة الوضع الاقتصادي في العراق ففي ضوء هذه الأوضاع غير المس تقرة تنتشر مشاعر الاستياء من حالة الغلاء الفاحش في البلاد.The Iraqi dinar index fluctuations in the situation Iraq's economic In light of these conditions are not threatened approved by spreading feelings of resentment from the hike in food in the country.





تاريخ الاقتصاد العراقيThe history of the Iraqi economy



مظاهر النمو الاقتصادي بدت واضحة في العراق بعد تا ميم النفط عام1972 حتى بداية عقد الثمانيات من الق رن الماضي حين دخل العراق حربا ضروسا مع ايران لتتع طل عجلة التطور والعمران, كما ان الحصار الذي فرض على العراق من الامم المتحد ة بداية التسعينات كان له اثر كبير في تدهور الاقتص اد العراقي ومنذ ذلك الوقت بدأ المواطن العراقي مر حلة شاقة من المعاناة ومر الاقتصاد باسوأ فترة ليص بح مستوى التضخم في الدينار العراقي يضر بالاقتصا د بشكل مباشر ويستمر التدهور في الاقتصاد حتى بعد ا حتلال العراق ليبقى رهن الظروف ما بين الاستقرار و عدمه.Manifestations of economic growth is apparent in Iraq after Ta M. oil in 1972 until the beginning of the 1980s cascade. Ren past when it entered Iraq fight a war with Iran to Tto aerial wheel of development and construction, The embargo imposed on Iraq by the United Bank e beginning of the 1990s have had a significant impact on the deterioration of Alaghtasse Ed Iraqi Since that time, the Iraqi citizen over dissolution of hard feelings and suffering the worst economy Les hoarse level of inflation in the Iraqi dinar detriment Balaghtassa d directly and continue deterioration in the economy, even after a Htlal Iraq would depend on the circumstances between stability and or not.



الدينار العراقي و مشواره الطويل ...الكثيرمن ا لمراقبين لمجريات الامورفي العراق يعتقدون ان ان عاش وازدهار الاقتصاد العراقي سيكون الانطلاقه ا لاولى في تجاوز كل العثرات والصعوبات التي قد تواج ه الحكومة في تخطي خطوات شاقة تعبر بنا الى مرحلة جد يدة من النهوض والبناء فكل برنامج حكومي من شأنه تف عيل الأنشطة الأقتصادية في بلد غني بالموارد النف طية مثل العراق أضافة الى موارد أخرى كالزراعة وال صناعة والسياحة وغيرها من الموارد, أذا لابد ان تسعى الحكومة الى أيجاد حلول مناسبة .The Iraqi dinar and his long ... A break for observers of the happenings Alamurvi Iraq believe that the lived and prosperity of the Iraqi economy will be a breakthrough first to overcome all obstacles and difficulties which may Toaj e government steps in overcoming tough for us to reflect a very his renaissance and construction Every government program would fulfilled hitting economic activities in the resource-rich country useless herewith, such as Iraq, in addition to other resources such as agriculture and the industry, tourism and other resources, if we have to the government seeks to find appropriate solutions.



بالرغم من ظهور صور السيارات المفخخة وحوادث اطلا ق النار والمتظاهرين الغاضبين في العراق عبر شاشا ت التلفزيونات العربية كل ليلة، يبقى رجال الأعمال في المنطقة، يراهنون على مستقبل اقتصادي مزدهر للعراق الذي مز قتة الحروب.Despite the emergence of the pictures of booby-trapped cars and accidents Atala s fire and the angry demonstrators in Iraq via Chacha T. Arab television every night, The businessmen in the region. betting on the future of economic prosperity for Iraq, which Maz his time of war.



ويستخدم حالياً كل من الدينار والدولار في المحلا ت العراقية، وهذا تغير عن الماضي القريب حيث كانت العملة الأمر يكية تستخدم عادة لشراء البضائع المستوردة الغال ية ـ مثل الألكترونيات.Currently used by the dinar and the dollar in Almahla T. Iraqi This change from the recent past, where the currency is Eker normally used for the purchase of imported goods Wales Yeh such as electronics.



اوضح مصدر مسؤول في وزارة المالية بان الحكومة تت وقع ارتفاع سعر صرف الدينار بنسبة 13 % مقابل الدول ار بحلول أوائل عام 2007 بعد رفع سعر الفائدة للحد م ن استعمال الدولار في الاقتصاد وكبح التضخم.An official source at the Ministry of Finance that the government pw the high rate of the dinar by 13% compared States TR By early 2007 after raising interest rates to curb m n use of the dollar in the economy and curb inflation.



مشيرا الى أن الحكومة تستهدف الوصول بسعر الصرف ال ى 1260 دينارا للدولار في الاشهر الثلاثة الاولى م ن 2007 من المستوى الحالي 1500 دينار للدولار.Pointing out that the government aimed at the exchange rate of j 1260 dinars to the dollar in the first three months M. n 2007 from the current level of 1500 dinars to the dollar.

مؤكداً على ان ميزانية 2007 تفترض سعر صرف عند 1260 دينارا مقابل الدولار مضيفا أن مجلس الوزراء سينا قش مشروع الميزانية على أمل رفعها الى البرلمان ال اسبوع المقبل.He emphasized that the 2007 budget assumes the exchange rate at 1260 Kuwaiti dinars to the dollar, adding that the cabinet Sena straw in the hope of the draft budget submitted to the Parliament next week.

موضحاً بأن الميزانية ستوضع على أساس سعر 1260 دين ارا للدولار و’5’ دولارات لبرميل النفط مع انتاج 1 ,7 مليون برميل يوميا.He added that the budget will be established on the basis of price in 1260 religion Lara for the dollar and 'five' dollars for a barrel of oil with production of 1 6-2 million barrels per day.



وأضاف أن البنك المركزي بدأ رفع سعر الفائدة من 12 % الى 16 في المئة حاليا مشيرا الى عدم وجود خطط فورية لمواصلة رفع الفائدة.He added that the Central Bank started raising the interest rate from 12% 16% currently pointing to a lack of immediate plans to continue to raise interest rates.



واشار المصدرالى ان الهدف من رفع أسعار الفائدة هو لتعزيز الدينار ومحاربة الدولرة وكبح التضخم وتع زيز ثقة العراقيين في العملة المحلية مؤكدا بأن اي اقتصاد يعتمد على الدولار يعد ضعيفا.The Almusdrali that the aim of raising interest rates is to strengthen the dinar against the dollar and curb inflation Ota Post confidence of Iraqis in the local currency stressing that any the economy depends on the dollar is weak.



يذكر ان البنك المركزي العراقي كان قد نفى في وقت سا بق ان تكون للبنك نية لتحديد او خفض سعر صرف الدولار مقابل الدينار العراقي لسببين الاول: ان القدرات الاحتياطية للبنك غير مطلقة والثاني ي عود الى ارتفاع عامل الاسعار.It is noteworthy that the Central Bank of Iraq had been denied at the time Sa pw to be the bank's intention to limit or reduce the dollar exchange rate against the Iraqi dinar for the first two reasons : The reserve capacity of the bank not absolute and the second j promises factor to the high prices.



وتوقع مسؤول في البنك المركزي العراقي عجزاً في مو ازنة العام المقبل، جراء عملية ضخ الدولار في السوق المحلية، للحفاظ على استقرار سعر صرف الدينار.An official at the Iraqi Central Bank deficit in the mo offset next year. by the process of pumping dollars into the local market. to preserve the stability of the dinar exchange rate.



الى ذلك، واصل الدينار ارتفاعه أمام الدولار في مزايدة «ال مركزي»، وتوقع خبراء في «البنك المركزي» ، حصول تحسن ملحوظ في سعر الدينار، جراء انخفاض سعر صرف الدولار، خلال الشهرين المقبلين.So, The dinar has risen against the dollar on speculation <of central>, and experts in <CBE>, a marked improvement in the rate of the dinar, due to the exchange rate depreciation of the dollar, over the next couple of months. وكان آخر ارتفاع في سعر الدينار العراقي أمام سعر ص رف الدولار عام 1995، لكن سعر الصرف استقر بعد ذلك بين 1400 و 1700 دينار ل لدولار.The latest rise in the rate of the Iraqi dinar to the Al-rate a shelf in the dollar in 1995, However, the exchange rate stabilized after that between 1400 and 1700 dinars told to dollars.



وعزا «المركزي» أسباب ارتفاع سعر الدينار أمام ال دولار، إلى الاستقرار في مزايدات بيع الدولار من دون معدل سعر صرفه الحقيقي.He attributed <Central> reasons for the high rate of the dinar against the dollars. for stability in the one-dollar sale without rate the real rate of exchange. وأوضح الصوري ان التضخم الذي يعانيه الاقتصاد حال ياً هو تضخم أسعار، وليس تضخماً نقدياً، مشيراً إلى ان هدف «المركزي» هو الحد من آثار التضخ م النقدي.He explained that the picture of inflation suffered by the state of the economy What is the inflation rate, and not monetary inflation. He pointed out that the goal of <Central> is to limit the effects of Altdkh m cash. أما تضخم الأسعار فأسبابه معروفة، بينها انخفاض العروض السلعية، واستغلال بعض الجشعين للظروف التي يمر بها العراق ، متوقعاً تحسناً ملموساً في سعر الدينار، وانخفاض الأسعار إزاء هذا التحسن .The price inflation Vaspaph known. presentations include low commodity, greedy and exploit some of the circumstances through which Iraq , and expected significant improvement in the rate of the dinar, and the drop in prices to this improvement.



وزير المالية العراقي بيان باقر جبر صولاغ قال ان ا لحكومة تتوقع ارتفاع سعر صرف الدينار بنسبة 13 في ا لمئة مقابل الدولار بحلول أوائل عام 2007 بعد رفع س عر الفائدة للحد من استخدام الدولار في الاقتصاد و كبح التضخم.Iraqi Finance Minister Baqir Jabr statement said that a strike the government expects the increase in the price of the dinar by 13 in a for a hundred against the dollar by early 2007 following the adjournment of S. Er interest to curb the use of the dollar in the economy and curbing inflation.

وأبلغ الوزير أن الحكومة تستهدف الوصول بسعر الصر ف الى 1260 دينارا للدولار في الاشهر الثلاثة الاو لى من 2007 من المستوى الحالي 1500 دينار للدولار.The Minister informed that the government aimed at Walser P to 1260 dinars to the dollar in the three months Alao I 2007 from the current level of 1500 dinars to the dollar.



وقال ان الهدف من رفع أسعار الفائدة هو تعزيز الدين ار لمحاربة الدولرة وكبح التضخم وتعزيز ثقة العرا قيين في العملة المحلية.He said that the aim of raising interest rates is to promote religion dollarization left to fight and curb inflation and to strengthen the confidence of Abra Kien in the local currency.

وأضاف أن على العراقيين الان استخدام الدينار بدل ا من الدولار وأن زيادة قيمته ستساهم في تخفيف حدة ا لتضخم البالغ حاليا 56 في المئة.He added that the Iraqi dinar is now used instead of a dollar value increase and will contribute to the alleviation of a for inflation, which now stands at 56%.

الجدير بالذكر ان معدل التضخم في العراق 76.6بلغ في المئة في اب _ اغسطس الماضي .It is worth mentioning that the inflation rate reached 76.6 in Iraq % in August-August last year.





فيما تباينت توقعات أصحاب محال الصيرفة في مديات ت حقيق إستقرار سعر صرف الدينار العراقي مقابل الدو لار الأمريكي ومحاولات أصحاب الشأن المالي في تخف يض نسب التضخم وإنعكاسها على سعر صرف العملات الأج نبية.With varied expectations shop owners banking in the range of T. genuine stability of the exchange rate of the Iraqi dinar against Aldo Laar American attempts stakeholders in the financial shortage Eh inflation rates and the effect on the exchange rate Alag Nabih.

أن كل التوقعات الخاصة بإنخفاض قيمة الدولار مقاب ل الدينار لا يمكن أخذها على محمل الجد كون هذا التذ بذب ربما يكون وقتياً وسرعان ما يعود السعر إلى معد لاته المعهودة وإن التذبذب الحاصل في الأسعار ربم ا ناتج عن السياسة المتبعة للبنك المركزي العراقي على مدى الفترة الماضية المتمثلة ببيعه المباشر ل لدولار إلى المصارف الأهلية عبر مزادات العملة وب أسعار مخفضة خلال هذه الفترة وبأسعار تنافسية خلا ل الفترات الماضية حققت الكثير من الإستقرار لسعر صرف الدينار العراقي مقابل الدولار بما يعادل145 0 ديناراً للدولار ونتوقع عند إنتهاء هذه السياسة أو نفاد الحاجة إليها سيعود السعر إلى وضعه السابق .All expectations for a decline of the value of the dollar Mma dinar told not to be taken seriously the fact that this Altz B*b may be temporary and the price quickly reverts to the editor Ate the usual volatility and the current price Erpm a result of the policy of the Central Bank of Iraq over the past period of selling direct to the dollars to private banks through auctions and a currency reduced prices during this period and at competitive prices fell for periods last achieved a lot of stability to the dollar exchange the Iraqi dinar against the dollar, or the equivalent of 145 0 dinars to the dollar, we expect at the end of this policy or depletion of the need to return the price to its previous .



محافظ البنك المركزي د.سنان الشبيبي أكد في بيانا ت صحفية على ان السياسة النقدية الجديدة المزمع تط بيقها بتخفيض سعره تضمنت عدة نقاط لإمتصاص وتائر ا لتضخم العالية الناتجة عن زيادة السيولة النقدية ، ما إقتضى إتباع سياسة نقدية جديدة هادفة إلى تحسي ن سعر صرف الدولار بإتجاه تخفيض سعره عدة نقاط في ا��مزاد الذي ينظمه البنك المركزي للتشجيع على شراء ��لدولار لسحب النقد من التداول.Central Bank Governor Dr. Sinan Shabibi said in a statement T. press that the new monetary policy to be Cta Bikha reduced price included several points to absorb intensifying a the high inflation resulting from the increase in cash , a necessary new monetary policy aimed at Thase n the direction of the dollar exchange rate reduced its price several points in a auction organized by the Central Bank to encourage the purchase the dollars to withdraw money from circulation.

وحدد الشبيبي معدلات التضخم في العراق بمعدل76% و السعي لتخفيض معدلاته من خلال توفير شروط أفضل للت نمية الإقتصادية وتحسين اداء القطاع المصرفي وتو فير الإستقرار فيه.The Shabibi inflation rates in Iraq by 76% and seeking to reduce rates by providing better terms Llte Nmeh economic and improve the performance of the banking sector Ut great stability.

وأضاف أن السياسة الجديدة للبنك المركزي تتمثل في زيادة سعر الفائدة للمصارف على الإستثمار والبال غة15% لمدة14 يوماً و16% لمدة شهر، فضلاً عن المزاد الذي ينظمه البنك في إجراء تنسيق م ع وزارة المالية لجعل إرتباط المصارف الحكومية با لبنك أسوة بالمصارف الأهلية ويكون إرتباط الأولى بالوزارة من الناحية الإدارية فقط من أجل سهولة تط بيق السياسة النقدية التي يرسمها البنك المركزي.He added that the new policy of the Central Bank is the increasing interest rates for banks on investment and mind Ge 15% for a period of 14 days and 16% for one month, as well as the auction, organized by the World Bank in coordination M. p and the Ministry of Finance to make the association governmental banks Pa Banks like Bank of eligibility and the first association ministry of the administrative side, just to ease Cta Bek monetary policy set by the Central Bank.

يمكننا أن نعد تذبذب سعر صرف الدولار مقابل الدينا ر بأنه أصبح لازمة للإقتصاد العراقي منذ عهد النظا م السابق وما صاحبها من فترات تذبذب كبيرة بسبب غيا ب السياسات النقدية ولكننا اليوم نعيش حالة من الب حث والدراسة لكل مفاصل الحياة لذا يتوجب على المخت صين عند تطبيق أية سياسة جديدة التوعية بآثارها ال سلبية لإستبعاد أية تبعات سلبية على المستهلك وال إقتصاد الوطني.We can promise the fluctuation of the dollar rate of exchange against the parents t that became a crisis of the Iraqi economy since the days of Anada m and the former owner of the periods due to the fluctuation of Gia b monetary policies, but today we live in a state of the Elbe The study urged all joints life is therefore incumbent upon Almkht China on the implementation of any new policy awareness of the effects negative to exclude any negative consequences on the consumer and the the national economy.



ويبقى العراقيون يتطلعون الان الى مستقبل اكثر ا شراقا بعد رفع العقوبات الدولية عن بلدهم والى حرك ة اعمار نشطة ستستمر سنوات طويلة وستصل تكاليفها ا لى مئات مليارات الدولارات لبناء عراق جديد يتمتع باقتصاد قوي ويعيش شعبه في ظل الرفاهية والامن وال سلامIt remains the Iraqis now looking to the future of a more Shraga after the lifting of sanctions on the country and to enable the e active reconstruction will continue for long years and will cost a I have hundreds of billions of dollars to build a new Iraq enjoys a strong economy and live in the light of prosperity and security and the Peace

فالخروج من حلة الكساد الاقتصادي في البلاد أمر يت وقف على عوامل عدة، لعل أهمها عودة الأمن والاستقرارللبلاد.Going out of the dissolution of the economic recession in the country is not% stay on several factors, perhaps the most significant return of security and Alastekararllballad.









يشكر موقع قناة بغداد / زاوية مقالات (الأخت نور ع لي) لتواصلها مع الزاوية وقد خصصت الزاوية لمقالا تها هذا الأسبوعThank Baghdad canal site / angle articles (Sister Nur p I) for interfacing with the angle have been allocated cornerstone of wit elsewhere this week

Originally Posted by Wm.Knowles

Thank you socata 850. I always enjoy reading your updates and like you I don't think it can take much longer. The HCL is the last significant piece of the puzzle and after that, with all of the money they have taken out, it is just a matter of time. Not if-but when. Again thank you.

I agree 100% I think anytime after the SBA expires on March 22 and they take back control of their exchange rate can be our time from now till then I hope to see them continue to pull them dinars Thank You for all your great posts.

TEXT-Iraqi Deputy PM Barham Salih on oil law
26 Feb 2007 16:50:10 GMT
Source: Reuters

BAGHDAD, Feb 26 (Reuters) - The following is a text of statements made to Reuters by Iraqi Deputy Prime Minister Barham Salih on a draft oil law approved by the cabinet on Monday.

Salih, who heads the committee that drafted the law, told Reuters it would now be sent to parliament for approval.

The legislation aims to optimise Iraq's oil and gas exploitation and assures equitable distribution of revenues among all Iraqis.

The law ends decades of excessive centralised control over the industry which was often the impediment to development for the sector.

This delineates responsibilities and authorities between the national institutions of the oil ministry and INOC (Iraqi National Oil Company) and the regional oil companies and establishes the Federal Council of Oil and Gas that will become the forum through which national oil policy will be decided.

The decision making process has built in checks and balances to enhance transparency and fight corruption.

Iraq is home to one of the largest petroleum resource bases in the world with potential oil reserves in excess of 200 billion barrels and proven reserves in the region of 115 billion barrels. Moreover its exploration and development costs are among the lowest in the Middle East.

The law is hoped to enable Iraq to achieve its potential and utilise its revenues for the benefit of all Iraqi people.

The cabinet endorsement of the legislation represents a major breakthrough for Iraq's political and economic transition. The law establishes the basis of the political economy of a federal, democratic, unified Iraq.

The council of ministers in an extraordinary meeting today approved the draft of the national hydrocarbon law.

The draft law prepared by the oil and gas sub-committee of cabinet comes in the wake of nearly six months of intense deliberation involving industry experts and the political leadership of the country.

The law aims to provide for a conducive investment environment. It encourages private enterprise and welcomes international oil companies to invest in the development of the Iraqi oil sector. The international oil companies have a recognised role to play in the transfer of up-to-date, state of the art technology, technical and managerial training of Iraqis and in providing investment capital.

The law stipulates restructuring INOC so that it will be an independent holding company with affiliated regional operating companies. The oil ministry will become the regulator for the sector.

The existing contracts signed by the KRG (Kurdish Regional Government) will be reviewed by the KRG to be made consistent with the premise of the law. A commission of independent experts will ratify consistency in case of contention.

Negotiations can be conducted by the regional authority in accordance with procedures and guidelines established by the Federal Council of Oil and Gas. The negotiations and contracts will have to be based on the main criteria of maximising revenues for Iraqi people.

The political leadership have committed to have the law and other associated laws and regulations be implemented by the end of May 2007 -- admittedly tough, and a gruelling schedule, but economic and political imperatives of the country require all of us to rise to the challenge.


http://www.alertnet.org/thenews/newsdesk/PAR660084.htm

Originally Posted by Jola

From the Baghdad Satellite Channel:
Translated version of http://www.baghdadch.tv/denar.htm

نور علي _بغدادNour on the Baghdad -

أكوام من العملة الوطنية العراقية تعرض يوميا ل لبيع والشراء في شوارع بغداد، فالحديث عن الدينار العراقي وتذبذب سعر صرفه في ال سوق أحد أبرز الاهتمامات التي تتصدر أحاديث العرا قيين اليومية، وهم في هذا باتوا أقرب إلى الانشغال والشغف بصعود ا لأسعار وهبوطها بمستوى قلقهم من تدهور الأحوال ال أمنية في بلادهم .Piles of the national currency the Iraqi daily Al the sale and purchase on the streets of Baghdad. talk about the Iraqi dinar and the fluctuation in the rate of exchange market one of the most prominent concerns at the forefront of discussions Ara Kien Journal in this they are closer to the concern and fascination with the rise of a for prices and the level of landing concern at the deterioration of conditions security in the country.






ويأمل العديد من العراقيين في استعادة عملتهم لقي متها السابقة وقوتها التي كانت عليها خلال السبعي نيات والثمانينيات، حيث بلغ سعر الصرف الرسمي للدينار أكثر من ثلاثة دو لارات للدينار الواحد، في حين تدهور السعر ليصل قبل احتلال العراق إلى أكث ر من ألفي دينار للدولار.It is the hope of many Iraqis in restoring currency was Mya Yugoslavia and strength they were during Alsafi intents and 1980s, as the official exchange rate of the dinar is more than three de lari one of the dinar, while the deterioration of the price up by the occupation of Iraq to Ach R. thousand dinars to the dollar.



الدينار العراقي شهد ارتفاعا تدريجيا متواصلا في قيمة صرفه امام الدولار منذ ان قرر البنك المركزي ا لعراقي اعتماد سياسة نقدية جديدة لمعالجة التضخم في ال 13 من تشرين الثاني _نوفمبر الماضي.The Iraqi dinar has been rising gradually and continuously in the purely value against the dollar since the Central Bank decided to a Iraqi adoption of a new monetary policy to deal with inflation in the 13 November-last November.



وعزا البنك "أسباب التضخم الى عدم تناسب سعر صرف ال دينار العراقي الاسمي مع مستواه الحقيقي" مما حدا بالبنك الى رفع قيمة الدينار لتصل خلال كانون الثا ني _ يناير الى نحو 1300 دينارا للدولار الواحد.He attributed the "causes inflation to the disproportionate rate of the Iraqi dinar with the nominal level of the real, "which prompted Bank to raise the value of the dinar up through December Althea Ni-January to about 1300 dinars per dollar.



وتأتي توقعات المراقبين اليوم باستمرار ارتفاع ا لدينار الى قيمة 1200 دينار للدولار وسط اقبال واس ع للمستثمرين والاشخاص للتعامل بالدينار العراق ي بدلا من الدولار الامريكي.The observers anticipated a steady rise today for dinars to the value of 1200 dinars to the dollar amid demand WAS p for investors and people to deal dinars Iraq j instead of the dollar.

تقلبات الدينار العراقي مؤشر عام على حالة الوضع الاقتصادي في العراق ففي ضوء هذه الأوضاع غير المس تقرة تنتشر مشاعر الاستياء من حالة الغلاء الفاحش في البلاد.The Iraqi dinar index fluctuations in the situation Iraq's economic In light of these conditions are not threatened approved by spreading feelings of resentment from the hike in food in the country.





تاريخ الاقتصاد العراقيThe history of the Iraqi economy



مظاهر النمو الاقتصادي بدت واضحة في العراق بعد تا ميم النفط عام1972 حتى بداية عقد الثمانيات من الق رن الماضي حين دخل العراق حربا ضروسا مع ايران لتتع طل عجلة التطور والعمران, كما ان الحصار الذي فرض على العراق من الامم المتحد ة بداية التسعينات كان له اثر كبير في تدهور الاقتص اد العراقي ومنذ ذلك الوقت بدأ المواطن العراقي مر حلة شاقة من المعاناة ومر الاقتصاد باسوأ فترة ليص بح مستوى التضخم في الدينار العراقي يضر بالاقتصا د بشكل مباشر ويستمر التدهور في الاقتصاد حتى بعد ا حتلال العراق ليبقى رهن الظروف ما بين الاستقرار و عدمه.Manifestations of economic growth is apparent in Iraq after Ta M. oil in 1972 until the beginning of the 1980s cascade. Ren past when it entered Iraq fight a war with Iran to Tto aerial wheel of development and construction, The embargo imposed on Iraq by the United Bank e beginning of the 1990s have had a significant impact on the deterioration of Alaghtasse Ed Iraqi Since that time, the Iraqi citizen over dissolution of hard feelings and suffering the worst economy Les hoarse level of inflation in the Iraqi dinar detriment Balaghtassa d directly and continue deterioration in the economy, even after a Htlal Iraq would depend on the circumstances between stability and or not.



الدينار العراقي و مشواره الطويل ...الكثيرمن ا لمراقبين لمجريات الامورفي العراق يعتقدون ان ان عاش وازدهار الاقتصاد العراقي سيكون الانطلاقه ا لاولى في تجاوز كل العثرات والصعوبات التي قد تواج ه الحكومة في تخطي خطوات شاقة تعبر بنا الى مرحلة جد يدة من النهوض والبناء فكل برنامج حكومي من شأنه تف عيل الأنشطة الأقتصادية في بلد غني بالموارد النف طية مثل العراق أضافة الى موارد أخرى كالزراعة وال صناعة والسياحة وغيرها من الموارد, أذا لابد ان تسعى الحكومة الى أيجاد حلول مناسبة .The Iraqi dinar and his long ... A break for observers of the happenings Alamurvi Iraq believe that the lived and prosperity of the Iraqi economy will be a breakthrough first to overcome all obstacles and difficulties which may Toaj e government steps in overcoming tough for us to reflect a very his renaissance and construction Every government program would fulfilled hitting economic activities in the resource-rich country useless herewith, such as Iraq, in addition to other resources such as agriculture and the industry, tourism and other resources, if we have to the government seeks to find appropriate solutions.



بالرغم من ظهور صور السيارات المفخخة وحوادث اطلا ق النار والمتظاهرين الغاضبين في العراق عبر شاشا ت التلفزيونات العربية كل ليلة، يبقى رجال الأعمال في المنطقة، يراهنون على مستقبل اقتصادي مزدهر للعراق الذي مز قتة الحروب.Despite the emergence of the pictures of booby-trapped cars and accidents Atala s fire and the angry demonstrators in Iraq via Chacha T. Arab television every night, The businessmen in the region. betting on the future of economic prosperity for Iraq, which Maz his time of war.



ويستخدم حالياً كل من الدينار والدولار في المحلا ت العراقية، وهذا تغير عن الماضي القريب حيث كانت العملة الأمر يكية تستخدم عادة لشراء البضائع المستوردة الغال ية ـ مثل الألكترونيات.Currently used by the dinar and the dollar in Almahla T. Iraqi This change from the recent past, where the currency is Eker normally used for the purchase of imported goods Wales Yeh such as electronics.



اوضح مصدر مسؤول في وزارة المالية بان الحكومة تت وقع ارتفاع سعر صرف الدينار بنسبة 13 % مقابل الدول ار بحلول أوائل عام 2007 بعد رفع سعر الفائدة للحد م ن استعمال الدولار في الاقتصاد وكبح التضخم.An official source at the Ministry of Finance that the government pw the high rate of the dinar by 13% compared States TR By early 2007 after raising interest rates to curb m n use of the dollar in the economy and curb inflation.



مشيرا الى أن الحكومة تستهدف الوصول بسعر الصرف ال ى 1260 دينارا للدولار في الاشهر الثلاثة الاولى م ن 2007 من المستوى الحالي 1500 دينار للدولار.Pointing out that the government aimed at the exchange rate of j 1260 dinars to the dollar in the first three months M. n 2007 from the current level of 1500 dinars to the dollar.

مؤكداً على ان ميزانية 2007 تفترض سعر صرف عند 1260 دينارا مقابل الدولار مضيفا أن مجلس الوزراء سينا قش مشروع الميزانية على أمل رفعها الى البرلمان ال اسبوع المقبل.He emphasized that the 2007 budget assumes the exchange rate at 1260 Kuwaiti dinars to the dollar, adding that the cabinet Sena straw in the hope of the draft budget submitted to the Parliament next week.

موضحاً بأن الميزانية ستوضع على أساس سعر 1260 دين ارا للدولار و’5’ دولارات لبرميل النفط مع انتاج 1 ,7 مليون برميل يوميا.He added that the budget will be established on the basis of price in 1260 religion Lara for the dollar and 'five' dollars for a barrel of oil with production of 1 6-2 million barrels per day.



وأضاف أن البنك المركزي بدأ رفع سعر الفائدة من 12 % الى 16 في المئة حاليا مشيرا الى عدم وجود خطط فورية لمواصلة رفع الفائدة.He added that the Central Bank started raising the interest rate from 12% 16% currently pointing to a lack of immediate plans to continue to raise interest rates.



واشار المصدرالى ان الهدف من رفع أسعار الفائدة هو لتعزيز الدينار ومحاربة الدولرة وكبح التضخم وتع زيز ثقة العراقيين في العملة المحلية مؤكدا بأن اي اقتصاد يعتمد على الدولار يعد ضعيفا.The Almusdrali that the aim of raising interest rates is to strengthen the dinar against the dollar and curb inflation Ota Post confidence of Iraqis in the local currency stressing that any the economy depends on the dollar is weak.



يذكر ان البنك المركزي العراقي كان قد نفى في وقت سا بق ان تكون للبنك نية لتحديد او خفض سعر صرف الدولار مقابل الدينار العراقي لسببين الاول: ان القدرات الاحتياطية للبنك غير مطلقة والثاني ي عود الى ارتفاع عامل الاسعار.It is noteworthy that the Central Bank of Iraq had been denied at the time Sa pw to be the bank's intention to limit or reduce the dollar exchange rate against the Iraqi dinar for the first two reasons : The reserve capacity of the bank not absolute and the second j promises factor to the high prices.



وتوقع مسؤول في البنك المركزي العراقي عجزاً في مو ازنة العام المقبل، جراء عملية ضخ الدولار في السوق المحلية، للحفاظ على استقرار سعر صرف الدينار.An official at the Iraqi Central Bank deficit in the mo offset next year. by the process of pumping dollars into the local market. to preserve the stability of the dinar exchange rate.



الى ذلك، واصل الدينار ارتفاعه أمام الدولار في مزايدة «ال مركزي»، وتوقع خبراء في «البنك المركزي» ، حصول تحسن ملحوظ في سعر الدينار، جراء انخفاض سعر صرف الدولار، خلال الشهرين المقبلين.So, The dinar has risen against the dollar on speculation <of central>, and experts in <CBE>, a marked improvement in the rate of the dinar, due to the exchange rate depreciation of the dollar, over the next couple of months. وكان آخر ارتفاع في سعر الدينار العراقي أمام سعر ص رف الدولار عام 1995، لكن سعر الصرف استقر بعد ذلك بين 1400 و 1700 دينار ل لدولار.The latest rise in the rate of the Iraqi dinar to the Al-rate a shelf in the dollar in 1995, However, the exchange rate stabilized after that between 1400 and 1700 dinars told to dollars.



وعزا «المركزي» أسباب ارتفاع سعر الدينار أمام ال دولار، إلى الاستقرار في مزايدات بيع الدولار من دون معدل سعر صرفه الحقيقي.He attributed <Central> reasons for the high rate of the dinar against the dollars. for stability in the one-dollar sale without rate the real rate of exchange. وأوضح الصوري ان التضخم الذي يعانيه الاقتصاد حال ياً هو تضخم أسعار، وليس تضخماً نقدياً، مشيراً إلى ان هدف «المركزي» هو الحد من آثار التضخ م النقدي.He explained that the picture of inflation suffered by the state of the economy What is the inflation rate, and not monetary inflation. He pointed out that the goal of <Central> is to limit the effects of Altdkh m cash. أما تضخم الأسعار فأسبابه معروفة، بينها انخفاض العروض السلعية، واستغلال بعض الجشعين للظروف التي يمر بها العراق ، متوقعاً تحسناً ملموساً في سعر الدينار، وانخفاض الأسعار إزاء هذا التحسن .The price inflation Vaspaph known. presentations include low commodity, greedy and exploit some of the circumstances through which Iraq , and expected significant improvement in the rate of the dinar, and the drop in prices to this improvement.



وزير المالية العراقي بيان باقر جبر صولاغ قال ان ا لحكومة تتوقع ارتفاع سعر صرف الدينار بنسبة 13 في ا لمئة مقابل الدولار بحلول أوائل عام 2007 بعد رفع س عر الفائدة للحد من استخدام الدولار في الاقتصاد و كبح التضخم.Iraqi Finance Minister Baqir Jabr statement said that a strike the government expects the increase in the price of the dinar by 13 in a for a hundred against the dollar by early 2007 following the adjournment of S. Er interest to curb the use of the dollar in the economy and curbing inflation.

وأبلغ الوزير أن الحكومة تستهدف الوصول بسعر الصر ف الى 1260 دينارا للدولار في الاشهر الثلاثة الاو لى من 2007 من المستوى الحالي 1500 دينار للدولار.The Minister informed that the government aimed at Walser P to 1260 dinars to the dollar in the three months Alao I 2007 from the current level of 1500 dinars to the dollar.



وقال ان الهدف من رفع أسعار الفائدة هو تعزيز الدين ار لمحاربة الدولرة وكبح التضخم وتعزيز ثقة العرا قيين في العملة المحلية.He said that the aim of raising interest rates is to promote religion dollarization left to fight and curb inflation and to strengthen the confidence of Abra Kien in the local currency.

وأضاف أن على العراقيين الان استخدام الدينار بدل ا من الدولار وأن زيادة قيمته ستساهم في تخفيف حدة ا لتضخم البالغ حاليا 56 في المئة.He added that the Iraqi dinar is now used instead of a dollar value increase and will contribute to the alleviation of a for inflation, which now stands at 56%.

الجدير بالذكر ان معدل التضخم في العراق 76.6بلغ في المئة في اب _ اغسطس الماضي .It is worth mentioning that the inflation rate reached 76.6 in Iraq % in August-August last year.





فيما تباينت توقعات أصحاب محال الصيرفة في مديات ت حقيق إستقرار سعر صرف الدينار العراقي مقابل الدو لار الأمريكي ومحاولات أصحاب الشأن المالي في تخف يض نسب التضخم وإنعكاسها على سعر صرف العملات الأج نبية.With varied expectations shop owners banking in the range of T. genuine stability of the exchange rate of the Iraqi dinar against Aldo Laar American attempts stakeholders in the financial shortage Eh inflation rates and the effect on the exchange rate Alag Nabih.

أن كل التوقعات الخاصة بإنخفاض قيمة الدولار مقاب ل الدينار لا يمكن أخذها على محمل الجد كون هذا التذ بذب ربما يكون وقتياً وسرعان ما يعود السعر إلى معد لاته المعهودة وإن التذبذب الحاصل في الأسعار ربم ا ناتج عن السياسة المتبعة للبنك المركزي العراقي على مدى الفترة الماضية المتمثلة ببيعه المباشر ل لدولار إلى المصارف الأهلية عبر مزادات العملة وب أسعار مخفضة خلال هذه الفترة وبأسعار تنافسية خلا ل الفترات الماضية حققت الكثير من الإستقرار لسعر صرف الدينار العراقي مقابل الدولار بما يعادل145 0 ديناراً للدولار ونتوقع عند إنتهاء هذه السياسة أو نفاد الحاجة إليها سيعود السعر إلى وضعه السابق .All expectations for a decline of the value of the dollar Mma dinar told not to be taken seriously the fact that this Altz B*b may be temporary and the price quickly reverts to the editor Ate the usual volatility and the current price Erpm a result of the policy of the Central Bank of Iraq over the past period of selling direct to the dollars to private banks through auctions and a currency reduced prices during this period and at competitive prices fell for periods last achieved a lot of stability to the dollar exchange the Iraqi dinar against the dollar, or the equivalent of 145 0 dinars to the dollar, we expect at the end of this policy or depletion of the need to return the price to its previous .



محافظ البنك المركزي د.سنان الشبيبي أكد في بيانا ت صحفية على ان السياسة النقدية الجديدة المزمع تط بيقها بتخفيض سعره تضمنت عدة نقاط لإمتصاص وتائر ا لتضخم العالية الناتجة عن زيادة السيولة النقدية ، ما إقتضى إتباع سياسة نقدية جديدة هادفة إلى تحسي ن سعر صرف الدولار بإتجاه تخفيض سعره عدة نقاط في ا��مزاد الذي ينظمه البنك المركزي للتشجيع على شراء ��لدولار لسحب النقد من التداول.Central Bank Governor Dr. Sinan Shabibi said in a statement T. press that the new monetary policy to be Cta Bikha reduced price included several points to absorb intensifying a the high inflation resulting from the increase in cash , a necessary new monetary policy aimed at Thase n the direction of the dollar exchange rate reduced its price several points in a auction organized by the Central Bank to encourage the purchase the dollars to withdraw money from circulation.

وحدد الشبيبي معدلات التضخم في العراق بمعدل76% و السعي لتخفيض معدلاته من خلال توفير شروط أفضل للت نمية الإقتصادية وتحسين اداء القطاع المصرفي وتو فير الإستقرار فيه.The Shabibi inflation rates in Iraq by 76% and seeking to reduce rates by providing better terms Llte Nmeh economic and improve the performance of the banking sector Ut great stability.

وأضاف أن السياسة الجديدة للبنك المركزي تتمثل في زيادة سعر الفائدة للمصارف على الإستثمار والبال غة15% لمدة14 يوماً و16% لمدة شهر، فضلاً عن المزاد الذي ينظمه البنك في إجراء تنسيق م ع وزارة المالية لجعل إرتباط المصارف الحكومية با لبنك أسوة بالمصارف الأهلية ويكون إرتباط الأولى بالوزارة من الناحية الإدارية فقط من أجل سهولة تط بيق السياسة النقدية التي يرسمها البنك المركزي.He added that the new policy of the Central Bank is the increasing interest rates for banks on investment and mind Ge 15% for a period of 14 days and 16% for one month, as well as the auction, organized by the World Bank in coordination M. p and the Ministry of Finance to make the association governmental banks Pa Banks like Bank of eligibility and the first association ministry of the administrative side, just to ease Cta Bek monetary policy set by the Central Bank.

يمكننا أن نعد تذبذب سعر صرف الدولار مقابل الدينا ر بأنه أصبح لازمة للإقتصاد العراقي منذ عهد النظا م السابق وما صاحبها من فترات تذبذب كبيرة بسبب غيا ب السياسات النقدية ولكننا اليوم نعيش حالة من الب حث والدراسة لكل مفاصل الحياة لذا يتوجب على المخت صين عند تطبيق أية سياسة جديدة التوعية بآثارها ال سلبية لإستبعاد أية تبعات سلبية على المستهلك وال إقتصاد الوطني.We can promise the fluctuation of the dollar rate of exchange against the parents t that became a crisis of the Iraqi economy since the days of Anada m and the former owner of the periods due to the fluctuation of Gia b monetary policies, but today we live in a state of the Elbe The study urged all joints life is therefore incumbent upon Almkht China on the implementation of any new policy awareness of the effects negative to exclude any negative consequences on the consumer and the the national economy. translated does this mean they recommend following china's lead?


ويبقى العراقيون يتطلعون الان الى مستقبل اكثر ا شراقا بعد رفع العقوبات الدولية عن بلدهم والى حرك ة اعمار نشطة ستستمر سنوات طويلة وستصل تكاليفها ا لى مئات مليارات الدولارات لبناء عراق جديد يتمتع باقتصاد قوي ويعيش شعبه في ظل الرفاهية والامن وال سلامIt remains the Iraqis now looking to the future of a more Shraga after the lifting of sanctions on the country and to enable the e active reconstruction will continue for long years and will cost a I have hundreds of billions of dollars to build a new Iraq enjoys a strong economy and live in the light of prosperity and security and the Peace

فالخروج من حلة الكساد الاقتصادي في البلاد أمر يت وقف على عوامل عدة، لعل أهمها عودة الأمن والاستقرارللبلاد.Going out of the dissolution of the economic recession in the country is not% stay on several factors, perhaps the most significant return of security and Alastekararllballad.









يشكر موقع قناة بغداد / زاوية مقالات (الأخت نور ع لي) لتواصلها مع الزاوية وقد خصصت الزاوية لمقالا تها هذا الأسبوعThank Baghdad canal site / angle articles (Sister Nur p I) for interfacing with the angle have been allocated cornerstone of wit elsewhere this week

Iraqi leaders pledge to enact oil law by end May
26 Feb 2007 16:42:47 GMT
Source: Reuters

BAGHDAD, Feb 26 (Reuters) - Iraqi political leaders have pledged to push through parliamentary approval of a new oil law and have it implemented by the end of May, Deputy Prime Minister Barham Salih said on Monday.

"The political leadership have committed to have the law and other associated laws and regulations be implemented by the end of May 2007 -- admittedly tough, and a gruelling schedule, but economic and political imperatives of the country require all of us to rise to the challenge," he told Reuters after the cabinet ended months of wrangling and approved the draft law.

http://www.alertnet.org/thenews/newsdesk/PAR659765.htm

Iraq cabinet endorses landmark draft oil law
26 Feb 2007 18:30:42 GMT
Source: Reuters

(Adds comments from planning minister)

By Claudia Parsons and Mariam Karouny

BAGHDAD/BEIRUT, Feb 26 (Reuters) - Iraq's cabinet on Monday endorsed a draft oil law crucial to regulating how wealth from the country's vast oil reserves will be shared by its ethnic and sectarian groups, a move hailed as a major political milestone.

Passing a law to help settle potentially explosive disputes over the world's third largest oil reserves has been a key demand of the United States, which has linked it to continuing support for the Shi'ite-led national unity government of Prime Minister Nuri al-Maliki.

Deputy Prime Minister Barham Salih told Reuters that Iraq's leaders had pledged to have the law enacted by the end of May. The draft has to be approved by parliament first.

"The political leadership have committed to have the law and other associated laws and regulations be implemented by the end of May 2007 -- admittedly tough, and a gruelling schedule, but economic and political imperatives of the country require all of us to rise to the challenge," Salih said.

"The cabinet endorsement ... represents a major breakthrough for Iraq's political and economic transition," added Salih, who is also head of the committee that drafted the law.

Speaking later to reporters, Maliki said: "The benefits of this wealth will form a firm pillar for the unity of Iraqis and consolidate their social structure."

Salih said that as previously agreed, revenues would be put in a central account and distributed according to population.

Most of Iraq's proven oil reserves are in the Shi'ite south or the Kurdish north. That has left Sunni Arabs in central and western Iraq fearful they would miss out on any windfall should security improve enough to substantially boost production.

Planning Minister Ali Baban, a Sunni, said all main political forces in the government agreed the draft.

"This law will add a real and practical dimension to the ... the unity of the Iraqi people," he said.

Iraq needs billions of dollars in foreign investment to revive the oil industry. Officials missed a self-imposed deadline of the end of 2006 to agree the law amid Kurdish concerns about the relations between the regions and Baghdad.

The draft would allow the Kurdish regional government (KRG) to review existing contracts it has signed with foreign firms to ensure consistency with the terms of the new law, Salih said.

KURDISH CONCERNS ALLAYED

Agreement on the law had been held up partly because officials from Kurdistan, where relative security has encouraged more development than elsewhere in Iraq, had said they wanted assurances a new federal council will not invalidate their existing contracts, including with Norway's DNO.

"The existing contracts signed by the KRG will be reviewed by the KRG to be made consistent with the premise of the law," said Salih.

"A commission of independent experts will ratify consistency in case of contention."

Regional authorities in Iraq would also be able to negotiate oil contracts with foreign companies.

"Negotiations can be conducted by the regional authority in accordance with procedures and guidelines established by the Federal Council of Oil and Gas," said Salih.

"The negotiations and contracts will have to be based on the main criteria of maximising revenues for Iraqi people."

The law will also restructure the Iraqi National Oil Company (INOC) as an independent holding company and establish a Federal Council as a forum for national oil policy.

INOC will have affiliated regional operating companies and the oil ministry will be the regulator for the sector.

"The law ends decades of excessive centralised control over the industry which was often the impediment to development for the sector," Salih said.

Iraq has the world's third largest proven oil reserves but has been hampered in developing them by decades of sanctions under Saddam Hussein and nearly four years of violence since the U.S.-led invasion in March 2003.

The world's top oil companies have been manoeuvring for years to win a stake in Iraq's prized oilfields such as Bin Umar, Majnoon, Nassiriyah, West Qurna and Ratawi -- all located in the south of the country.

Russia's LUKOIL would be prepared to start work at West Qurna if Baghdad were to validate its deal struck under Saddam, analysts said. China's contract for the al-Ahdab oilfield, signed during the same period, is under review.

http://www.alertnet.org/thenews/newsdesk/PAR654231.htm

STANFORD, California: Earlier this month, the House Committee on Oversight and Government Reform held a hearing that criticized the decision to ship American currency into Iraq just after Saddam Hussein's government fell.

As the committee's chairman, Henry Waxman of California, put it in his opening statement, "Who in their right mind would send 360 tons of cash into a war zone?" That attracted wide attention, feeding antiwar sentiment and providing material for comedians.

A careful investigation of the facts behind the currency shipment paints a far different picture.

The currency that was shipped into Iraq in the days after the fall of Saddam Hussein's government was part of a successful financial operation that had been carefully planned months before the invasion.

Its aims were to prevent a financial collapse in Iraq, put the financial system on a firm footing and pave the way for a new Iraqi currency.

Contrary to the criticism that such currency shipments were ill-advised or poorly-monitored , this financial plan was carried out with precision and was a complete success.

The plan, which had two stages, was designed to work for Iraq's cash economy, in which checks or electronic funds transfers were virtually unknown and shipments of tons of cash were commonplace.

In the first stage, the United States would pay Iraqi government employees and pensioners in U.S. dollars. These were obtained from Saddam's accounts in American banks, which were frozen after he attacked Kuwait in 1990 and amounted to about $1.7 billion. The second stage was to print a new Iraqi currency for which Iraqis could exchange their old dinars.

The final details of the plan were reviewed President George W. Bush and the National Security Council on March 12, 2003. I attended that meeting.

President Bush approved the plan with the understanding that we would review the options for a new Iraqi currency later, when we knew the situation on the ground.

To carry out the first stage of the plan, President Bush issued an executive order on March 20, 2003, instructing United States banks to relinquish Saddam's frozen dollars. From that money, 237.3 tons in $1, $5, $10 and $20 bills were sent to Iraq.

During April, U.S. Treasury officials in Baghdad worked with the military and the Iraqi Finance Ministry officials — who had painstakingly kept the payroll records despite the looting of the ministry — to make sure the right people were paid.

The Iraqis supplied extensive documentation of each recipient of a pension or paycheck. Treasury officials who watched over the payment process in Baghdad in those first few weeks reported a culture of good record keeping.

On April 29, Jay Garner, the retired lieutenant general who headed the reconstruction effort in Iraq at the time, reported to Washington that the payments had lifted the mood of people in Baghdad during those first few confusing days. Even more important, a collapse of the financial system was avoided.

This success paved the way for the second stage of the plan. In only a few months, 27 planeloads (747 jumbo jets) of new Iraqi currency were flown into Iraq from seven printing plants around the world. Armed convoys delivered the currency to 240 sites around the country, from where it was distributed to 25 million Iraqis in exchange for their old dinars, which were then dyed, collected into trucks, shipped to incinerators and burned or simply buried.

The new currency proved to be very popular. It provided a sound underpinning for the financial system and remains strong, appreciating against the dollar even in the past few months. Hence, the second part of the currency plan was also a success.

The story of the currency plan is one of several that involved large sums of cash. For example, just before the war, Saddam Hussein stole $1 billion from the Iraqi central bank. American soldiers found that money in his palaces and shipped it to a base in Kuwait, where the U.S. Army's 336th Finance Command kept it safe. To avoid any appearance of wrongdoing, American soldiers in Kuwait wore pocket-less shorts and T-shirts whenever they counted the money.

Later, American forces used the found cash to build schools and hospitals, and to repair roads and bridges. General David Petraeus has described these projects as more successful than the broader reconstruction effort.

But that wasn't the only source of dollars. Because the new Iraqi dinar was so popular, the central bank bought billions of U.S. dollars to keep it from appreciating too much. As a result, billions in cash accumulated in the vaults of the central bank. Later, with American help, the Iraqi central bank deposited these billions at the New York Federal Reserve Bank, where they could earn interest.

Finally, when Iraq started to earn dollars selling oil, the United States transferred the cash revenue to the Finance Ministry, where it was used to finance government operations, including salaries and reconstruction.

Many of these transfers occurred in 2004, long after the financial stabilization operation had concluded. Iraqi Finance Ministry officials had already demonstrated that they were serious about keeping the controls they had in place. The 360 tons mentioned by Henry Waxman includes these transfers as well as the 237.2 tons shipped in 2003 in the stabilization.

One of the most successful and carefully planned operations of the war has been held up in this hearing for criticism and even ridicule.

As these facts show, praise rather than ridicule is appropriate: praise for the brave experts in the U.S. Treasury who went to Iraq in April 2003 and established a working Finance Ministry and central bank, praise for the Iraqis in the Finance Ministry who carefully preserved payment records in the face of looting, praise for the American soldiers in the 336th Finance Command who safely kept found money, and yes, even praise for planning and follow-through back in the United States.