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

Originally Posted by shotgunsusie

debt relief is in that package too.

With 100% debt forgiveness instead of 80% forgiveness it stands to reason it can only make the economy stronger. Am reading Saudi are very close to forgiving the debt.

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

I concur Mike. I was reading some IMF info earlier that leads me to believe it is a matter of sooner than later. There is a very important meeting at the end of the month.........

Originally Posted by Adster

I concur Mike. I was reading some IMF info earlier that leads me to believe it is a matter of sooner than later. There is a very important meeting at the end of the month.........

What meeting? I thought the next important meeting was May 3rd? Don't make me pry it out of you!

Financial Governors of the World Bank meetings in Washington Iraqi national-Luna / Baghdad office / 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, Mr. Minister of Finance 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 the highest implementation rates for the ministries of 50% due to the security situation, which greatly impaired the Iraqi and foreign companies from entering into contracts or contracts processing, as well as a lack of flexibility and instructions to execute the contracts that were inherited from the former regime.

وقال بيان صادر عن وزارة المالية انه أطلقت الأموال في موازنة عام 2006 في شهر تموز من نفس العام مما يعني أن الوزارات لم تأخذ الوقت الكافي لتنفيذ موازنتها كما أن قلة الخبرة وعدم توفر الكوادر الوسطية القادرة على تنفيذ هكذا مشاريع أدت إلى التأخر في التنفيذ لذلك قامت اللجنة الأقتصادية برئاسة نائب رئيس الوزراء الدكتور برهم أحمد صالح بأتخاذ إجراءات لتسريع تنفيذ الموازنة وتشجيع وحدات الأنفاق على التنفيذ فلذلك أطلقت الأموال بمجرد المصادقة على موازنة عام 2007 في نهاية الشهر الثاني، مشيراً الى أن قانون موازنة عام 2007 نص في المادة 14 على أن الوزارات التي لن تنفذ 25% من ميزانياتها حتى تموز عام 2007 ستنقل تخصيصاتها إلى الوزارات الأخرى القادرة على التنفيذ وقد عقدت وزارة المالية مؤخرا مؤتمرا لتسع من الوزارات الخدمية وحضره 80% من كادر وزارة المالية لمناقشة تلك الوزارات في تنفيذ مشاريعها وقد فاجأنا وزير الأتصالات بأنه قد نفذ 90% من موازنته لعام 2007.A statement issued by the Ministry of Finance that funds launched 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 and lack of the middle echelon cadres are capable of implementing such projects led to the delay in implementation of the Commission economic headed by 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, pointing out that the 2007 budget law in the text of Article 14 that the ministries will implement 25% from 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 has surprised us by the Minister of Communications that he had carried out 90% of its budget for 2007.

وفي ختام كلمته أكد السيد وزير المالية بأن السنة الحالية ستكون أفضل بكثير من السنة السابقة في نسب تنفيذ الموازنة.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. وأوضح الوزير حول موضوع أطفاء الديون العراقية بأن هنالك إشارات جيدة من المملكة العربية السعودية لمناقشة إطفاء الدين العراقي مؤكدا بأن نسبة تخفيض الدين إلى 80% بدلا من 100% هي نسبة غير مقبولة للعراقيين لان هذه الديون وفوائدها كانت عبارة عن مبالغ لدعم حرب صدام مع إيران وهي نقطة خلافنا ونقطة مهمة لنا واللمواطن العراقي.The minister said on the subject of turning the Iraqi debt that there is good signals 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 Saddam's war with Iran, a point DISCORD The important point for us and the Iraqi Allmwatuna.

من جانب اخر، أشار سنان الشبيبي محافظ البنك المركزي العراقي أحد أعضاء الوفد العراقي بأن هنالك تطورات جيدة مثل نسبة التضخم التي هي حاليا 23% مؤكدا بأن هنالك تفاوت في مستوى تفاعل الدول مع ديون العراق وطلب محافظ البنك المركزي العراقي أن يقول صندوق النقد الدولي بأن إعفاء العراق من ديونه موضوع يهم الصندوق ويشجع عليه ويساعد العراق والصندوق على إتمام برامجهما في العراق.On the other hand, the governor Sinan Shabibi 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 subject of interest to the Fund and encourage and help Iraq and the IMF to complete their programs in Iraq.

وأكد السيد خان كبير موظفي صندوق النقد الدولي على تفاؤل الصندوق من حسن السياسة الأقتصادية في العراق وهنأ العراق بأنه صاحب سجل إنجازات مشددا على ضرورة تخفيض التضخم الأقتصادي وتنفيذ الموازنة ورفع معدلاتها وخصوصا تنفيذ الموازنة الأستثمارية لقطاع النفط لزيادة معدلات الأنتاج مشيرا إلى أنه في ايلول القادم سيحتاج العراق إلى إتفاقية الـ (SBA ) من ايلول 2007 إلى ايلول 2008 لأجل التمتع بالأعفاءات التي قدمها نادي باريس وتأتي هذه الأتفاقية بعد إنتهاء الأتفاقية الأولى وتنفيذ العراق لكل مستلزماتها.Mr. Khan and Chief of Staff of the International Monetary Fund on optimism fund 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 in September next will Iraq the Convention on the (SBA) from September 2007 to September 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.

وأقترح صندوق النقد الدولي أن يكون هناك إجتماعا مختصرا في عمان نهاية الشهر الحالي وإجتماعا آخر في منتصف أيار لمناقشة المادة الرابعة من الأتفاقية ولأكمال البرنامج الحالي.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.
ووعد صندوق النقد الدولي بأنه سيعلن عن التطورات الأقتصادية في العراق في إجتماع شرم الشيخ حيث سيدعم خطوات العراق الأقتصادية الواثقة برغم كل التحديات التي يواجهها وأن السياسة الأقتصادية العراقية تعمل بسلاسة مع الصندوق الذي أبلغ البنك الدولي بذلك .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 reported that the World Bank.

وحضر الأجتماع السيد سنان الشبيبي محافظ البنك المركزي العراقي والسيد مستشار نائب رئيس الجمهورية والسيد نائب محافظ البنك المركزي ومستشار من مكتب نائب رئيس الوزراء وكبار الموظفين من صندوق النقد الدولي.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.

Article IV - Obligations Regarding Exchange Arrangements


Section 2. General exchange arrangements
(a) Each member shall notify the Fund, within thirty days after the date of the second amendment of this Agreement, of the exchange arrangements it intends to apply in fulfillment of its obligations under Section 1 of this Article, and shall notify the Fund promptly of any changes in its exchange arrangements.

(b) Under an international monetary system of the kind prevailing on January 1, 1976, exchange arrangements may include (i) the maintenance by a member of a value for its currency in terms of the special drawing right or another denominator, other than gold, selected by the member, or (ii) cooperative arrangements by which members maintain the value of their currencies in relation to the value of the currency or currencies of other members, or (iii) other exchange arrangements of a member's choice.

(c) To accord with the development of the international monetary system, the Fund, by an eighty-five percent majority of the total voting power, may make provision for general exchange arrangements without limiting the right of members to have exchange arrangements of their choice consistent with the purposes of the Fund and the obligations under Section 1 of this Article.


Section 4. Par values
The Fund may determine, by an eighty-five percent majority of the total voting power, that international economic conditions permit the introduction of a widespread system of exchange arrangements based on stable but adjustable par values. The Fund shall make the determination on the basis of the underlying stability of the world economy, and for this purpose shall take into account price movements and rates of expansion in the economies of members. The determination shall be made in light of the evolution of the international monetary system, with particular reference to sources of liquidity, and, in order to ensure the effective operation of a system of par values, to arrangements under which both members in surplus and members in deficit in their balances of payments take prompt, effective, and symmetrical action to achieve adjustment, as well as to arrangements for intervention and the treatment of imbalances. Upon making such determination, the Fund shall notify members that the provisions of Schedule C apply.
Articles of Agreement: Article IV: Obligations Regarding Exchange Arrangements

Originally Posted by shotgunsusie

debt relief is in that package too.

Welllllllll, where the heck is my debt releif???

Originally Posted by rvalreadydang

Welllllllll, where the heck is my debt releif???

yeah! what she said!

Al-Sadr bloc member explains withdrawal from Iraqi government
16 April 2007 (BBC Monitoring)


[Press conference by Nassar al-Rubay'i, member of the Council of Representatives for Al-Sadr Bloc, in Baghdad; carried in progress]
[Nassar al-Rubay'i, in progress] ...tension at the ministries of the Iraqi Government, and at the same time, we will be giving the government a chance to build its ministries and policies away from partiality and favouritism. Actually, we advise the government to provide the basic services to the Iraqi people. The insufficiency of these services is the basis of the tension in the Iraqi arena.
We emphasize to the government the need to hand over the Iraqi detainees' file, which is being handled by the occupation forces, to the Iraqi Government so as to maintain its sovereignty.
We all know that there are constitutional violations related to the detainees. We ask the government to be committed to what it believed in and to what it pledged to abide by; namely, the Iraqi constitution.
We should take note of Article 19 and Paragraphs 11 and 13 the Iraqi Constitution. One of these paragraphs stipulates that if a person is arrested, a lawyer should be appointed for him. If the detainee can not appoint one, then the government should appoint a lawyer at its expense. This was not implemented, and the families of detainees do not know the fate of their sons.
Also Paragraph 13 of Article 19 of the Iraqi Constitution affirms that the initial investigation documents should be referred to the responsible judge within 24 hours. Unfortunately, this was not implemented. This is concerning the detainees' issue.
Regarding Al-Sadr Bloc's ministers, we all know that our principle has been firm since the beginning of the occupation, now, and during all the phases of our work.
When we were in the peaceful resistance, we called for the departure of the occupation forces, and when we joined the defensive and combat resistance against the occupation forces, we also called for the withdrawal of the occupation forces. Now, and as we represent the political resistance, we also call for the departure of the occupation forces. As a minimum, we believed in setting an objective timetable for the departure of the occupation forces so as to have agreement among all political blocs in Iraq.
The one-million-person demonstration, which was staged in holy Al-Najaf, was a practical expression of the demands of this people.
We urge the government to express the demands of the Iraqi people. We also call on the government to practice its constitutional powers. We ask the government to be committed to what it pledged to do. The powers of the occupation forces should be spelled out. Four years after the occupation and the endorsement of the Iraqi Constitution, the powers of the Iraqi Government remain limited and the final say remains in the hands of the occupation forces.
If you have any questions, please go ahead.
[Al-Iraqiyah Television Reporter Amjad Talli] Mr Nassar, we know that there are plans for a cabinet reshuffle and that the reason behind its delay, according to Dr Ali al-Dabbagh, is the political blocs. Is your decision [to withdraw] a message to political blocs to reshuffle [their ministers]? As we all know, there are inefficient ministers in the government.
[Al-Rubay'i] As far as we are concerned, when the prime minister decided a cabinet reshuffle, the Al-Sadr Bloc also decided to reshuffle all its ministers in accordance with the regular procedures. The Al-Sadr Bloc presented to the prime minister the files of 18 ministers, nominating three candidates for each ministerial post, so that the prime minister would select one for each post. This is what we did then.
[Associated Press Reporter Qasim al-Sa'di] Were there any conditions that the government did not meet and that led to your withdrawal? Are their other conditions? [Al-Rubay'i] We do not deal in conditions. We did not propose any conditions and no conditions were imposed on us. We assessed the current situation in Iraq and the current situation of the government, especially regarding the state of the services provided to the Iraqi people and the security file. We realized that the situation is d eteriorating. Even when the prime minister blamed the deterioration in the security situation and in the level of services, which are provided to the Iraqi people, on the cabinet formation, we decided then to grant the [prime minister] the power to reshuffle all of our ministers. The deterioration in the security situation and in the level of the services provided for the Iraqi people are the main reasons behind our withdrawal. Another very important reason, unfortunately, is the prime minister's failure to meet the demands of the one-million-person demonstration in the holy Al-Najaf Governorate. He called on the occupation forces to stay [in Iraq]. The ruling system in Iraq is parliament-based; therefore, the prime minister should express the Iraqi people's will. In the one-million-person demonstration, the Iraqi people expressed their opinion and called for setting a timetable for the withdrawal of the occupation forces. However, the prime minister's response did not reflect the will of the Iraqi people; rather, it expressed the will of the occupation forces.
May God's peace, mercy, and blessings be upon you.
Source: Al-Arabiya TV, Dubai

Al-Sadr bloc member explains withdrawal from Iraqi government | Iraq Updates

Originally Posted by shotgunsusie

good riddance!!

This is fantastic news for Iraq!

Originally Posted by inquisitive1

This is fantastic news for Iraq!

Agreed