Thread: Iraq/Dinar News until 5PM CST May 10,2007

The Iraqi government "progress" oil law to Parliament
Source : BBC-04 / 05 / 2007

He said Iraqi Oil Minister Hussein Shahrastani government had submitted to the Iraqi Parliament a draft law on investment and the distribution of oil revenues.

The statements came Shahrastani eve of the opening of a special conference in Iraq in the Egyptian resort of Sharm el-Sheikh attended by regional and international powers.

Shahrastani said that the draft law "sent to Parliament and that there was an agreement between political parties to act with the end of this month."

Regarding the Kurdish parties of the draft law the Iraqi minister said that "the Kurdish regional government is not opposed to the law and that they were satisfied with the draft law."

According to the news agency Reuters that the bill is an important step towards how to share Iraq's oil reserves Mahtlv between ethnic groups and creeds.

The government approved a law last February, where considered Prime Minister Nuri al-Maliki one of the pillars of national unity in the country, but the difference between the central government and the government of the Kurdistan malfunction approved by the Parliament.

But Haider Badi, Chairman of the Economic Committee in the Iraqi Parliament denied in an interview with Reuters that the parliament has received a draft law sharing oil wealth, and said that the government may meet tomorrow, Thursday, for approval and submission to parliament.

It is expected that the foreign ministers agreed about the 60th state in Sharm el-Sheikh on the international plan for five years to support Iraq economically in return for government reforms required.

Originally Posted by Lunar

The Iraqi government "progress" oil law to Parliament
Source : BBC-04 / 05 / 2007

He said Iraqi Oil Minister Hussein Shahrastani government had submitted to the Iraqi Parliament a draft law on investment and the distribution of oil revenues.

The statements came Shahrastani eve of the opening of a special conference in Iraq in the Egyptian resort of Sharm el-Sheikh attended by regional and international powers.

Shahrastani said that the draft law "sent to Parliament and that there was an agreement between political parties to act with the end of this month."

Regarding the Kurdish parties of the draft law the Iraqi minister said that "the Kurdish regional government is not opposed to the law and that they were satisfied with the draft law."

According to the news agency Reuters that the bill is an important step towards how to share Iraq's oil reserves Mahtlv between ethnic groups and creeds.

The government approved a law last February, where considered Prime Minister Nuri al-Maliki one of the pillars of national unity in the country, but the difference between the central government and the government of the Kurdistan malfunction approved by the Parliament.

But Haider Badi, Chairman of the Economic Committee in the Iraqi Parliament denied in an interview with Reuters that the parliament has received a draft law sharing oil wealth, and said that the government may meet tomorrow, Thursday, for approval and submission to parliament.

It is expected that the foreign ministers agreed about the 60th state in Sharm el-Sheikh on the international plan for five years to support Iraq economically in return for government reforms required.

That's what I like to see..... Proof that the Kurds are OK with the Oil Law...

Now just PASS the damn thing and let's get that oil pumping!!

Hopefully this weekend we see the law approved by Parliament!

Washington urges Iraqi Parliament not to take summer vacation

GMT 17:30:00 2007 الجمعة 4 مايو

2007 17:30:00 GMT Friday, May 4

Washington : The White House announced today, Friday, that the administration of President George W. Bush urging the Iraqi parliament to reconsider the draft and transmit it to take leave during the summer, especially since there is an urgent draft laws require approval.

".White House spokesman Gordon Jondro said that several American officials, including United States Ambassador Ryan Crocker in Baghdad, thought that this might send a "bad signal not only to the international community but also for the Iraqi people."

The American ambassador Thursday that he "raised this issue before the officials (the Iraqis) at various levels, including the Prime Minister." Crocker said that the sentiment in the United States and Iraq is, "How can you go throughout the summer in fighting Iraqi soldiers and American and die just to give you, the members (of Parliament), the area necessary for the country's political work, while you take a holiday for two months."

The institutions reflect American pressure on the Bush administration in the United States. It is no secret umbrage at the American Vice possibility that the Iraqi parliament takes leave for two months, leaving behind projects are in the reconciliation may not be neglected.

White House attaches great importance to the approval of this project as soon as possible, especially on the management and sharing of oil revenues, amid the Democratic Majority in Congress to put an end to the American military presence in Iraq, today before tomorrow.

Translated version of http://www.elaph.com/

Activating commercial relations between Iraq and the world
Translated by IRAQdirecotry.com - [04/05/2007]

The Ministry of Commerce said that next month will witness the implementation of a special program to activate trade relations between Iraq and various countries around the world.

A source in the ministry said in a press statement that "this program prepared by the government would include all countries of the world, especially the neighboring countries to develop economic and commercial relations with them as there will be a joint bilateral committees with those States as well as increasing business contracts ..

He added: "The coming days will witness the meetings between the Iraqi government delegations and a number of countries of the world, especially the neighboring countries, to discuss joint working papers between Iraq and those countries", stressing: "Iraq's desire to develop all economic and trade relations with the world countries and the relations that were cut during the past years to gain the experience of various countries of the world in developing the economy, supporting the private sector and to taking advantage of investment law which was approved some months ago.

It is noteworthy that Iraq is seeking to join the World Trade Organization after obtaining the observer status in the organization in a step considered a prelude to reviving the Iraqi economy and the reconstruction of Iraq.

http://www.iraqdirectory.com/DisplayNews.aspx?id=3706

Originally Posted by Lunar

It is nice to read a positive perspective for a change....they're few and far between. Hopefully we'll see more of the same...

It is nice to read something positive. Thanks for that. Damn liberal media. You think the end was near. I guess fear and hatred make for better news than peace and prosperity.

Originally Posted by Bill

It is nice to read something positive. Thanks for that. Damn liberal media. You think the end was near. I guess fear and hatred make for better news than peace and prosperity.

You're right Bill...unfortunately violence and negative news sells.

The government of Iraq sent oil new law to Parliament

02 / 05 / 2007

BAGHDAD (Reuters) - Iraqi government sent a bill to parliament in the oil major step towards fulfilling one of the political criteria set by Washington to Baghdad.

The declaration of the Iraqi Oil Minister Hussein Shahrastani Wednesday, the eve of a major conference in Egypt exploring the major industrial powers and Iraq's neighbors how to achieve stability in Iraq and seeking to implement reforms in return for reconstruction.

The draft law is to regulate the distribution of Iraq's vast oil wealth on sectarian and ethnic groups in the country.

The government had approved the bill in February last and was praised by the then Iraqi Prime Minister Nuri al-Maliki as Shiite pillars of the unity of Iraq. But the differences between the central government and the government of Kurdistan region rich in oil, which enjoyed autonomy in the north of the country on the control of the third largest oil reserves in the world disrupted send Act of Parliament.

And pressed President George W. Bush on Maliki to approve agreements on the division of power to help alleviate violence in the country. And Bush had used the veto on Tuesday against legislation sponsored by Democrats that would set a date for the withdrawal of American forces from Iraq.

After Bush described such a timetable Tuesday Alastana unwieldy, the American army announced on Wednesday the arrival of approximately 4000 additional troops to Iraq under the "increase" in the forces led by the White House, which are seen as the latest attempt to avoid all-out civil war between Shiites and Sunnis.

He Shahrastani told reporters in Saudi Arabia hoped to be approved oil bill by the end of May this month.

Shahrastani said that the bill was sent to Parliament now that the political blocs agreed to work together for approval end of the month.

He added that the government of the Kurdistan is not opposed to the bill but very happy done.

It was not possible to obtain an immediate comment from Kurdish officials who said earlier that supplements of the law were unconstitutional because they tend to control the oil fields of regional governments and placed under the control of a government company.

But Haider Abadi, Deputy Chairman of the economy and investment People said to Reuters that the Parliament had not received the bill yet. He expected that the council of ministers will meet on Thursday to send the draft law to Parliament.

In addition to the oil include standards set by Washington to retreat from Iraq to prevent former members of the Iraqi Baath party from assuming positions significantly, amending the constitution and calling for elections of the provincial assemblies.

The United States hopes that supports those standards reconciliation and attract Sunni Arabs to participate in the political process and away from armed operations.

Because most of Iraq's oil reserves in areas controlled by Kurds in the north and Shiites in the south is the equitable distribution of wealth in oil revenues Iraq is the key to reducing the violence that resulted in the deaths of tens of thousands of Iraqis and more than 3300 American troops since the invasion led by the United States in 2003.

Naturally, those standards American agenda during the conference Thursday in the Egyptian resort of Sharm el-Sheikh on the Red Sea port where it is expected to endorse the 60 States (International Charter for the sake of Iraq), a plan to be implemented over five years to provide foreign support in return for reforms.

The highlight of the talks held Thursday and Friday in order to contain the violence in Iraq and to prevent its spread to the region will be meeting on the margin between the American Secretary of State Condoleezza Rice and her Iranian counterpart Manouchehr Mottaki.

Washington accuses Iran leveled violence in Iraq, which Tehran denied.
Rice said to reporters en route to attend the conference "on Iraq's neighbors take the risk ... Iraq is the center of the Middle East that is stable or unstable Middle East. Hence all of us organize our way contribute to the achievement of stability. "

"Let us not pass guesses exaggerated (for the meeting). Take remove doubts in the region for some time. "

In Baghdad, Saleh Al-Ojaili spokesman for the parliamentary bloc of the extremist Shiite cleric opposed to the United States Moqtada Sadr said that 133 deputies from among 150 Iraqis were present on Wednesday parliament, which includes 275 members signed the non-binding memorandum sponsored Sadr demanded determining a timetable for the withdrawal of American forces.

The Al-Maliki said that he will be for the American forces to stay until the Iraqi army and police are ready to take over security. Some deputies said that they had signed a memorandum of chest after adding a clause stating that he should not be for the American forces to leave, as long as the Iraqis are not ready.

(Participated in the unlawful Villelabeitia coverage from Baghdad Su Blemenge from Washington and Jonathan Wright in Cairo)

Episode 6 Synopsis: The Financial Sector and Money Markets
Airdate: August 6, 2005
Economic Files does
not necessarily reflect
the views of CIPE


Economic
Files
www.cipe.org/iraq

The program discussed the financial sector and money markets in
Iraq, with a special focus on the role of the Central Bank of Iraq.
The program addressed the following topics:

• Regulation and stocking of Iraqi currency
• Monitoring of credits according to the general monetary
policies of the government.
• Fixing the rate of the Iraqi Dinar and fighting inflation
• Partnership opportunities between local and international
private banks
The three guests from the Central Bank discussed the bank’s
plan to enhance the Iraqi banking sector and financial markets
throughout 2006. They highlighted a series of steps that have
already been taken, including:
• Establishing the Central Bank’s independence from the
Ministry of Finance
• Training 70% of the bank’s staff on international best
practices

• Printing a series of 14 new Iraqi Dinar notes and coins

However, guests on the show representing private banks and the
private sector, as well as average Iraqis interviewed on the street,
voiced the following concerns about the policies of the Central
Bank:
• There is only one financial market within Iraq, the Iraq Stock
Exchange, which is dominated by a few key players.
• The procedures for participating in the Iraq Stock Exchange
are very cumbersome. For example, it takes 45 days for a
certificate to be issued to a new stockholder.
• Private banks require support from the Central Bank to
obtain training for their staff in areas such as information
technology, international best practices, and English.
• Checks issued by private banks are not accepted by state and
government entities.

http://www.cipe.org/regional/mena/ir...nopsis_ep6.pdf

hmmm new bills huh, whats that mean for the ones we're all sitting on, cause i'm hoping that doesn't me they're gonna reissue our bills, maybe they're printing up some smaller ones for after the RV.

The article was from August, 2005. I think the person posted it to show there were 14 denominations printed, but only 9 have been shown in circulation.

No worries.