Thread: Iraq/Dinar News until 5/23/07 Midnight CST

Originally Posted by wciappetta

Come on now will ya? Eighty seven bucks is what we are talking about here MAX. If you three zero lift the way the Iraqis interperet it instead of 1261 you could have 1.261 and adjust the max dinar figures accordingly. it's quite simple really. the point was that 87.00 dollars isn't going to cut it, but a three zero lift would. you were too quick on the draw to think that one out, though i see how you concluded what you did but that wasn't the thrust of the point.

Thanks ward that was the kind of response i was looking for.

Originally Posted by cooldolphins

Ward, when you look at the article mentioned way back a few pages, here's what concerns me, too. Please explain how they can RV anywhere close to our dollar with incomes like this????

A month!!

..I read of the social protection in the meeting of the House of Representatives, provides for a payment of an amount (50) thousand Iraqi dinars a month for a family consisting of one individual, and the amount (70) thousand Iraqi dinars for a family consisting of two .. .As well as the payment of an amount (90) thousand dinars for a family consisting of three members, and the amount (100) thousand dinars for a family of four, (110) thousand dinars for a family of six and over.

Simple really. It is called adjustment....
50,000nid's equal $40 now, then after a say 1:1 RV, the adjustment would just be 40 nid's. Same with all the figures.

Originally Posted by cooldolphins

Ward, when you look at the article mentioned way back a few pages, here's what concerns me, too. Please explain how they can RV anywhere close to our dollar with incomes like this????

A month!!

Well what if the max benefit for this discussion was say $870.00 and after the RV the actual dinar figure was maybe 800.000 or less? The hard numbers in print that you are reading I would imagine could certainly be adjusted to reflect the reality of what the Iraqis in fact do. One thing for certain though, the current amount at today’s rate falls desperately short of having any meaningful impact. Reading between the lines I would conclude that an adjustment in the rate is in the wings and that the adjustment to have purpose must be significant.

But these figures like 110,000 dinar in order to be meaningful can be no less than a worth of .008 USD Possible? perhaps ,but doubtful.

the reason i shy from that line of thought is simply that article four criteria argues against this unbalanced approach for the regional economic model JMO and every thousand fil system in the ME is over 1.40 USD. This is a program rate used for monitoring the dynamics of the economy, which we also know the IMF stated their intention to end, which also means the the monitoring rate. Plus the MOF publicly says they will compromise at 1.48US but we know where they said they wish to return. again there is the alerting of speculators who have real money to burn. how do you protect against that type of heavy speculative investing? The big boys are patient so you won't wait them out. no the only real solution is high RV. It guards against heavy speculation.

so in the end I conclude they will adjust those figures to reflect the value.

anyway its my opinion and i tried to look at it from another point of view [as you can tell by my delayed response] but the evidence weighs too heavily to the high side IMO.

May : 18:10 Trade Minister confirms optimism successful future negotiations with the World Trade Organization Luna / May 15 / BAGHDAD / farmer, Dr. Abdul Hassan, the Sudanese Minister of Trade optimism on the success of future negotiations with the World Trade Organization to be held in the Geneva late this month. The Sudanese announcement during the Iraqi negotiating team that Iraq had completed all the mechanisms and questions addressed to him by the International Organization addition to updating laws and legislation and sent to the State Consultative Council and the Council of Ministers to be studied in order to keep abreast of Iraq's participation in the World Trade Organization. He added that the negotiating group established for three years and succeeded in completing all'll requirements of the World Trade Organization and develop appropriate responses for each organization offers Therefore, we are optimistic that the outcome of future talks to be held in Geneva with a team represented by the exit of the recommendations of the task could accept Iraq in the light of the implications of the results .. The Sudanese to the importance of education and public awareness through media releases and in the importance of Iraq's accession to the WTO that this economy will gain (strength and evolution), and inform the experiences of the developed countries of the Organization for the freedom to control the operations of the global economy and trade, pointing out that the Iraqi government issued many of the laws that serve the Iraqi economy and facilitate coordination with the global economy, where the form of the investment major turning point future results will be significant movement of the market economy and to develop the country and most of the provinces that suffered greatly as a result of their negligence and reliance on central control of the State on the economic movement . The minister stressed that the accession of Iraq to the World Trade Organization does not mean necessarily accept the new restrictions imposed on the Iraqi economy, laws and regulations of the organization and believes that some Ha Thus Thus but some team work places this side the best interest of the country and the interests of the Iraqi rights before taking any action addition, we find that the economy Iraqis have great potential able to overcome all its problems and return once again to the forefront of the economies of countries of the world. Stressing the importance of Iraq's presence in international organizations being shunned for many years and it was unacceptable that this move away from what is happening in the world of enormous economic developments will seek to make use of it to serve the Iraqi economy, and thus determine the feasibility of presence in these international organizations. The meeting was considered a range of topics and mechanisms put forward by the negotiating team representing the Iraqi government before the World Trade Organization in Geneva and already the government sent many of the questions asked and answers to consider Iraqi request seriously. / / Ended / p u / u p / local.

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Wednesday, May 16, 2007

Iraq holds oil reserves of about 115bn barrels, the third largest in the world, and some experts claim another 100bn could be in the country's unexplored Western Desert.

But only 21 oil fields out of 80 discovered are now on stream, although the country has one of the lowest production costs in the world - estimated at about Dollars 2 a barrel.

Current oil output is about 2m barrels a day, down about 30 per cent from pre-war levels which peaked at 3.9m b/d in 1979. A founder member of the Organisation of Petroleum Exporting Countries, the country has been outside the cartel's quota system since the invasion of Kuwait in 1990.

Forecasts published before the US-led invasion in 2003 predicted Iraq's oil output would double to an estimated 6m b/d, by 2010.

But those predictions have now been forgotten with the International Energy Agency forecasting Iraq's oil production roughly flat at 2.2m b/d in 2010but suggesting that it should climb to 6m b/d by 2030.

The Kurdistan Regional Government says its controlled area in northern Iraq may contain up to 45bn barrels of oil reserves and forecasts a production of about 500,000 b/d in the next five years.

Only a handful of companies - including Norway's DNO, Addax Petroleum of Canada, Genel Energy of Turkey, and Dana Gas of UAE - have taken the risk of investing in

Iraq.

He added that the introduction of electronic circulation coincides with the decision of the "Securities Body"that allows non-Iraqis to circulate in the Iraqi Stock Exchange, starting on the first of next June, and according to the Investment Law No. 13 of 2006 which everyone looks forward to activate it, which helps to overcome all obstacles that prevent expansion of the Arab and foreign investment in Iraq. He pointed out that the circulation of non-Iraqis in equities and bonds in the Iraqi bourse is, "a step in the right direction to achieve a rise in stock prices, after the significant slump in their value last year".

He explained that increasing the number of circulation sessions from two in the week, to ten in the morning and afternoon, in addition to doubling the volume of circulation, will have a large return for the investment sector in Iraq. Al-Tabatabai expected that the outcome of this qualitative leap of shares in the bourse, will have a big economic value differs from the previous phases, as in other countries.


So are they going electronic June 01?

(7(Voice of Iraq) - 11-05-2007


quantum leap to the Iraqi shares after the adoption of electronic trading on the Stock Exchange
- 11/05/07//BAGHDAD - Adel Mahdi life-11 / 05 / 07 / /

.Investors on the Stock Exchange is expected to deposit the Iraqi «Iraq market for securities» during the coming period a circulation count adopted since it was established nearly 15 years after the arrival of equipment, hardware and electronic systems, which contracted with the company around «or mother VX» Swedish specialized, that had already undertaken similar projects in more than thirty Arab and international bourse.

.The President of the Board of Trustees of the Stock Exchange student Tabatabai told «life» that the transition from manual trading system to electronic trading is a quantum leap in performance distinct «Iraq market for securities», where is expected to witness the next stage in order for investment activity as consistent with the desire and aspiration of more than a million citizens are active in the sector shares.

e added that the introduction of electronic circulation coincides with the decision «body securities» allowed by non-Iraqis circulation in the Iraqi Stock Exchange, starting the first of June next (June), according to the Investment Law No. 13 of 2006 which everyone looks to the activated form, which helps to overcome all obstacles that prevent expansion of the Arab and foreign investment in Iraq. ».Pointing out that the circulation of non-Iraqis in equities and bonds in the bourse Iraqi «is a step in the right direction that achieves a rise in stock prices, after a slump in the value significantly in the last year».

.He explained that the number of meetings circulation of two currently in the week, to ten morning and afternoon sessions, in addition to doubling the volume of circulation rocketed, will have a large return for the investment sector in Iraq. ?????? .Tabatabai and expect that the outcome of this qualitative leap of shares in the bourse, the Iraqi economic value different from previous phases, as in other countries.

.The AOCS «IBM» American computer under the supervision of the company «or mother VX» Swedish engineers and training for all staff and stockbrokers Iraqis in the Jordanian capital, Amman, on electronic trading and the central depository, in addition to the completion of the internal linkage with the offices of such intermediaries, room equipped with electronic circulation in the bourse. according to the latest global designs.

Translated version of http://h...n/

Currency Conversion ResultsSymbolU.S. DollarExchange
RateIraqi Dinar Bid Ask

1USD/DINAR

May 15
EXCHANGE RATE
1,260.5

IRAQI DINAR
1,260.5

BID
1,260.5

ASKING
1,265.5

U.S. Dollar to Iraqi Dinar Exchange Rate - Yahoo! Finance

9:25 PM PST

Originally Posted by goldraker

So are they going electronic June 01?

I read over on the 'other' forum that Mr. I had said that he thought that non-Arab investors would be allowed in about the middle of June and the electronic trading would begin a couple of months later. He is currently out of the country in Amman right now.

EU pledges support for helping Iraq with reform plan

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16 May 2007 (m&c)
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The European Union on Monday pledged support for the implementation of an ambitious international plan aimed at helping Iraq's economy, saying the pact was central for developing relations between Iraq and its partner countries.

EU foreign ministers said the recent launch of the International Compact for Iraq was 'encouraging and hopefully will contribute to an improvement of the situation in Iraq.'

The broad-based contract with the country commits the international community to substantial aid in exchange for a promise of unity in Iraq within five years.

EU ministers commended Iraq for 'the ambitious commitments it has made' in the plan to promote reforms in politics, security, economics and social affairs.

'The implementation of these commitments will be central in developing co-operation between Iraq and all its international partners,' ministers said after a meeting in Brussels.

Countries worldwide, but in particular states in the region, 'have a responsibility to support and promote the difficult process of national reconciliation and stabilization in Iraq, and to prevent outside interference that could undermine it,' they said.

The International Compact for Iraq includes debt reduction and aid packages but also requires the Iraqi government to take stronger steps to end sectarian violence and move toward political reconciliation between rivalling Shiites and Sunnis.

EU ministers also called for 'effective' follow-up action to the Iraq conference in Egypt earlier this month, including work in the areas of security, refugees and energy.

The Sharm el-Sheikh meeting brought together top diplomats from 21 countries, including Iraq's neighbouring states, the five permanent members of the United Nations Security Council and members of the G8 club of wealthy nations