Thread: Iraq/Dinar News to April 19, 2007 10PM CST

Originally Posted by Offshore-Wealth.com

Interesting,

As we have seen, even with more dinar being removed, the rate of dinar has leveled off, natural resistance, as in, this is as much as they can go with strategy in place for the past several months. In my opinion, this shows us that stability is indeed in place since there has been no reversal or drop in dinar value, so now we are all set for restoration. All that we have seen to date is a technical economic dog and poney show by CBI to establish and demonstrate stability. You cannot have a restoration of dinar rate without stability being clearly proven, and it has, so any day now is how I see it unfolding.

Good luck and health to all, Mike

WOW! WOW! WOW! That's what I wanted to hear!

Originally Posted by choochie

WOW! WOW! WOW! That's what I wanted to hear!

Yes Choochie, this is getting closer and closer.
We will soon be there

Originally Posted by Offshore-Wealth.com

Interesting,

As we have seen, even with more dinar being removed, the rate of dinar has leveled off, natural resistance, as in, this is as much as they can go with strategy in place for the past several months. In my opinion, this shows us that stability is indeed in place since there has been no reversal or drop in dinar value, so now we are all set for restoration. All that we have seen to date is a technical economic dog and poney show by CBI to establish and demonstrate stability. You cannot have a restoration of dinar rate without stability being clearly proven, and it has, so any day now is how I see it unfolding.

Good luck and health to all, Mike

It may also indicate a *JUMP* up instead of a crawl up . . . No recent info from Indy . . . she's still in Paris . . .

Best to all . . . RR . . .

Originally Posted by Lunar

Chaired by Mr. Zubaidi Baqir Jabr, the Minister of Finance
(Voice of Iraq) - 16 - 04-2007

The name of God the Merciful
The Ministry of Finance
Media Bureau
Numbers :
History :


A press
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16/4/2007

Chaired by Mr. Zubaidi Baqir Jabr and Minister of Finance Iraqi delegation to attend a meeting of Governors of the World Bank held in Washington 0

The Minister of Finance, Mr. speech at the beginning of the meeting in which he thanked the International Monetary Fund for hosting the Iraqi delegation explaining the latest economic developments in Iraq, explaining the reasons for the failure to achieve rates of implementation of the budget for 2006, which amounted to the highest implementation rates for the ministries of 50% due to the security situation, which greatly impaired the companies Iraqi and foreign entry in the field or processing of contracts as well as the lack of flexibility and instructions to execute the contracts that were inherited from the former regime has released funds in the 2006 budget for the month of July of that same year, which means that the ministries did not take enough time to implement their budgets and the lack of expertise

The lack of middle echelon cadres are capable of implementing such projects led to the delay in implementation of the Economic Committee under the chairmanship of Deputy Prime Minister Barham Ahmed Salih take measures to accelerate the implementation of the budget and encourage units expenditure on implementation why funds launched soon to ratify the 2007 budget at the end of the second month and balancing Act 2007 in the text of Article 14 that the ministries will implement 25% of their budgets until July 2007 allocations will be transferred to other ministries capable of implementation have been held by the Ministry of Finance recently held for nine ministries attended the service and 80% of the cadre and the Ministry of Finance to discuss those ministries in the implementation of projects have surprised us by the Minister of Communications that he had carried out 90% of its budget for 2007 0


At the end of his speech, the Minister of Finance that the current year will be much better than the previous year's rate of implementation of the budget 0-1

The Finance Minister, Mr. extinguishing debt on the theme that there are Iraqi good signs from the Kingdom of Saudi Arabia to discuss the Iraqi debt extinguishment stressing that the ratio of debt reduction to 80% instead of 100% is the proportion of non-acceptable to the Iraqis because their debts and their words were for amounts in support of the war with Iran, which Saddam DISCORD point, a very important point for us and the Iraqi Allmwatuna 0

And Mr. Sinan Shabibi governor of the Central Bank of Iraq one of the members of the Iraqi delegation that there are good developments such as the inflation rate, which is currently 23%, stressing that there is disparity in the level of interaction with debts of Iraq and asked the Iraqi Central Bank governor says that the International Monetary Fund that the exemption of Iraq debt issue interest Fund and encourage and help Iraq and the IMF to complete their programs in Iraq 0

Mr. Khan and Chief of Staff of the International Monetary Fund the Fund optimism of good economic policy in Iraq and here that Iraq's record of achievements, stressing the need to reduce inflation and economic implementation of the budget and raise the rates, especially the implementation of the investment budget for the oil sector to increase production rates, he said, pointing out that next September will need to Iraq the Convention on the (SBA) from September 2007 to December 2008 in order to enjoy exemptions provided by the Paris Club and comes after the end of this Convention and the first implementation of the Convention Iraq each state 0

The IMF suggested that there be a meeting in Amman short end of this month and another meeting in mid-May to discuss Article IV of the Convention and the completion of the current program 0

He promised to the International Monetary Fund announced that the economic developments in Iraq in Sharm El-Sheikh meeting, where support Iraq's economic confident steps despite all the challenges facing Iraq and the economic policy is working smoothly with the fund, the World Bank has reported that 0

The meeting was attended by Mr. Sinan Shabibi governor of the Central Bank of Iraq and adviser to Mr. Vice President and Mr. Vice Governor of the Central Bank and advisor of the Office of the Deputy Prime Minister and senior officials from the International Monetary Fund 0

High inflation indices for the month of March
------------------------------------------------------------------------
completed the Central Agency for Statistics and Information Technology Report inflation for the month of March 2007, prepared on the basis of data collection in the field "on the prices of goods and services components of the basket of consumer retail prices in selected markets in Baghdad and other governorates.

Ë‚«‰ Â’œ— ·Í «‰ÃÁ«“ «Ê ƒ‘— «‰*÷ŒÂ ‰‘Á— ¬–«— /2007 «—*·Ÿ ‚«—Ê… »‘Á— ‘»«?/2007 „« ÍŸ„”Á «‰—‚ «‰‚Í«”Í «‰Ÿ«Â ‰?”Ÿ«— «‰Â”*Á‰„ »Ê”»… (1.3%) ƒ„œ«Î ?Ê Á–« «‰«—*·«Ÿ „«Ê Ւ͉… «—*·«Ÿ «‰—‚ «‰‚Í«”Í ‰‰ÂëÂÍŸ «‰”‰ŸÍ… «‰*«‰Í… («‰ÂË«œ «‰/–«?Í…¨ «‰?‚‘… Ë«‰Â‰«»” Ë«‰?Õ–Í…¨ «‰?À«À¨ «‰Ê‚‰ Ë«‰ÂË«’‰«*¨ «‰ŒœÂ«* «‰?»Í… Ë«‰?œËÍ…¨ ”‰Ÿ ËŒœÂ«* Â*ÊËŸ… Ë«‰?Íë—) »Ê”» «—*·«Ÿ ‚œ—Á« (4.8% ¨ 1.1% ¨ 2.2% ¨ 2.3% ¨ 1.4% ¨ 0.4% ¨ 1.7%)Ÿ‰È «‰*Ë«‰Í Ÿ‰Â«Î »?Ê «‰?Ê·«‚ Ÿ‰È Á–Á «‰ÂÃÂËŸ… Í‘„‰ (94.4%) ÂÊ ÂÃÂËŸ «‰?Ê·«‚ «‰«”*Á‰«„Í «‰Ÿ«?‰Í.
A source in the body that the inflation index for the month of March 2007 increased compared to February / 2007 also reflected the general standard figure for consumer prices (by 1.3%) stressing that this rise was the outcome of the high index of commodity groups following (food, clothes, fabrics, footwear, furniture, transport, medical services and pharmaceuticals, miscellaneous goods and services and rental) high rates of (4.8%, 1.1%, 2.2%, 2.3%, 1.4%, 0.4%, 1.7%), respectively, note that the spending for this group is (94.4%) of total domestic consumer spending.

Ë·Í« ÍŒ’ ÂÃÂËŸ… («‰œŒ«Ê Ë«‰Â‘—Ë»«* ¨ «‰Ë‚Ëœ Ë«‰?÷«¡…) Ë«‰*Í *‘„‰ (5.6%) ÂÊ ÂÃÂËŸ «‰?Ê·«‚ «‰Ÿ«?‰Í ·‚«‰ «‰Â’œ— »?ÊÁ« ”É* «ÊŒ·«÷«Î Œ‰«‰ ‘Á— ¬–«— ‚«—Ê… »«‰‘Á— «‰”«»‚ »Â‚œ«— (0.2% ¨ 2.3%)Ÿ‰È «‰*Ë«‰Í.
With respect to the Group (tobacco and beverages, fuel and lighting), which is (5.6%) of total expenditure domestic source said that it registered a decline during the month of March compared with the previous month by (0.2%, 2.3%), respectively.

Ë«„œ «‰Â’œ—«—*·«Ÿ ƒ‘— «‰*÷ŒÂ «‰”ÊËÍ Œ‰«‰ «‰·*—… ÂÊ ¬–«— /2006 ˉ/«Í… ¬–«— /2007 »Ê”»… (36.6%) Ë–‰„ Ê*ÍÃ… ‰«—*·«Ÿ «‰—‚ «‰‚Í«”Í ‰„«·… «‰ÂëÂÍŸ «‰”‰ŸÍ… («‰ÂË«œ «‰/–«?Í…¨ «‰œŒ«Ê Ë«‰Â‘—Ë»«*¨ «‰?‚‘… Ë«‰Â‰«»” Ë«‰?Õ–Í…¨ «‰?À«À¨ «‰Ë‚Ëœ Ë «‰«÷«¡…¨ «‰Ê‚‰ Ë«‰ÂË«’‰«*¨ «‰ŒœÂ«* «‰?»Í… Ë«‰?œËÍ…¨ ”‰Ÿ ËŒœÂ«* Â*ÊËŸ… Ë«‰?Íë—) ˻ʔ» «—*·«Ÿ ‚œ—Á« (27.1% ¨ 6.6%¨ 11.4% ¨ 10.5% ¨ 76.2%¨ 47.4% ¨ 4.8% ¨ 34.9% ¨ 26.7%)Ÿ‰È «‰*Ë«‰Í.
The Almusdrarttfae index annual inflation during the period from March 2006 until March 2007 rate (36.6%), due to the increase in the index for all totals commodity (food, tobacco, beverages, textiles and clothing, footwear, furniture, fuel and lighting, transport and communication, medical services and pharmaceuticals, miscellaneous goods and services and rental) rates increase of (27.1%, 6.6%, 11.4% , 10.5%, 76.2%, 47.4%, 4.8%, 34.9%, 26.7%), respectively.

How do we reconcile the inflation numbers? I lifted the top article from another forum. SOO SORRY. But it reports an inflation rate of 36%. The below article reports an inflation rate of 23%. Why the difference? In Feb, the inflation rate was 33%, but one criticism was that it did not include fuel and energy. This was true. This 36% does include fuel. It states that in the article. IMHO the 23% number does not include fuel and energy. So, regardless, we have a significant drop in reported inflation. Withiut fuel, we have a drop from the reported 33% to 23%. A lot of money has been taken out recently, and we can expect the rate to drop further. I have always thought we will not see an RV until inflation is brought under control, i.e. when the CBI has removed enough currency from the economy, i.e. a target amount. IMHO. Thank You.

Originally Posted by Jola

16 times very 16:43:00 2007

ترحيب

Welcome

المالكي يرحب باعلان الصدر تفويضه باختيار الوزراء

Maliki welcomed the announcement of the selection of Sadr delegated Minister

Baghdad / Nina / welcomed Prime Minister Nuri Kamal al-Maliki, welcomed Mr. Moqtada Sadr delegated the task of assigning portfolios interministerial six which had been occupied ministers in the government bloc chest Hello...


Did he think that Maliki will cry - by any chance??

Another one:

Voices of Iraq: Maliki-Sadrists Posted by: nakr2004 on Monday, April 16, 2007 - 03:59 PM
Maliki-Sadrists
Maliki welcomes Sadr's decision to authorize him to appoint successors
By Watheq Ismail
Baghdad, Apr 16, (VOI) - Iraqi Prime Minister Nouri al-Maliki has welcomed Shiite leader Muqtada al-Sadr's decision to authorize the prime minister to select independent persons to replace the six Shiite ministers who quit the government earlier in the day.
The Sadr Movement’s ministers in the incumbent Iraqi government were withdrawn upon orders from Shiite leader Muqtada al-Sadr, in protest against the government's failure to set a timetable for the withdrawal of foreign troops from Iraq, the movement chief in Iraq's parliament Nassar al-Rubaie, had said earlier.

Reading out a statement by Sadr at the Iraqi Parliament on Monday, Rubaie said "for the sake of public interest and easing burdens from the Iraqi people, we deemed it necessary to inform Sadrist ministers to quit the Iraqi government and steer clear of any sectarian, ethnic, partisan or political calculations."

Sadr, in his statement, called on the six ministers to "continue serving the people" from outside the government, adding "I pray for God Almighty to bestow on the Iraqi people a government that is independent from occupation and one that works hard in the service of its people."

The Sadrist ministers' withdrawal from the government is expected to double pressures on Prime Minister Maliki as the Sadr Movement is considered a powerful supporter of him since he came to power in mid-2006.

The Sadrist ministers held important portfolios in the Iraqi government: health, agriculture, transport, tourism and antiquities, provinces' affairs and civil society.

Rubaie, during a press conference he held earlier on Monday in Baghdad, said the ministers quit the government due to Maliki's failure to positively respond to the "million-man demonstration," which was staged by Sadrists on April 9 in the holy Shiite province of Najaf, to demand the departure of occupation troops.

The Sadrists occupy 30 seats within the Shiite Unified Iraqi Coalition (UIC), which has the largest number of seats in the Iraqi parliament, 130 out of the total 275 seats.

good riddance!!

Originally Posted by Jola

The FIL implementation IMO. If it was only the HCL, the ISX would be open to foreigners by now.

But as we have heard a while ago, there may be " a package", and if it is, FIL & HCL could be together in it, and then Adster would be right.

debt relief is in that package too.

Originally Posted by Offshore-Wealth.com

Interesting,

As we have seen, even with more dinar being removed, the rate of dinar has leveled off, natural resistance, as in, this is as much as they can go with strategy in place for the past several months. In my opinion, this shows us that stability is indeed in place since there has been no reversal or drop in dinar value, so now we are all set for restoration. All that we have seen to date is a technical economic dog and poney show by CBI to establish and demonstrate stability. You cannot have a restoration of dinar rate without stability being clearly proven, and it has, so any day now is how I see it unfolding.

Good luck and health to all, Mike

YAAAAAAAHHHHHHOOOOOO!!!!

I LOVE it when you talk like that!

It's one thing to hear 'some' members' "opinion"....BUT~! Yours just takes the cake! Frosting and ALL!


Tiff

Originally Posted by chadm

adster,

i know nobody knows for sure but when was the expected time of the implementation of the hcl law?do you think they will implement it at the ici in the begining of may? thanks

I can't see them signing the IC without the HCL being passed. Why would you as a country investing in Iraq's restructure risk your money without a guarantee on your money? Kinda like having collateral of a house on a second mortgage, same applies. That is why they NEED this HCL done before 3 May. That's why they're in a holding phase, they are waiting on something. We have a passed FIL ready and waiting......

HCL=RV=IC signing. Then we will see the doors open via the ISX and FIL. Anyone notice there are more meetings going on in Dubai in the last week or so. I would take a stab and say these were to do with the HCL.

My thoughts.

Also thought I'd add and put to rest all the BS of the 'slow and grow' folks as the rate hasn't moved for 12 days.

Originally Posted by tiffany

YAAAAAAAHHHHHHOOOOOO!!!!

I LOVE it when you talk like that!

It's better than hubby whispering "sweet nothings"!

Originally Posted by mike brown

but they could reprint in only 1 and 1/2 years, oct. 2008, because that will be 5 years, right?

The notion that De La Rue has placed a 5 year moratorium on printing any new Iraqi currency has absolutely no merit and should be placed in either the "go crazy" or the "rumors" thread. Definitely not NEWSworthy.