Thread: Iraq/Dinar News. 09/05 to 01/14/07

Iraq's economic problems increase the sense of despair

London (Reuters) - Iraqis may have cellular phones and Internet cafes, but did not enjoy the benefits of real economic little since the fall of President Saddam Hussein three years ago and are now poorer than they were before the first Gulf War.

Still to survive is the highest priority for the Iraqi Some believe that the country was teetering on the brink of civil war. However, the improvement in the economy will raise the morale of many citizens, and perhaps also help in reducing the violence rages unabated.

Figures indicate that the achievement of this goal remains elusive.

The World Bank statistics show that per capita income went up from 479 dollars in 2003, when the United States led the invasion of Iraq to about 1188 dollars in 2005 while the per capita income in 3240 dollars in 1980.

And paints the image of the Iraqis themselves economic problems do not end at a time when the economy was adversely affected attacks against American and Iraqi forces and oil installations and political inflexibility and lack of funding and mismanagement in a more international investors.
Leith says Mohamed (46 years old), who was working in the past to the importation of heavy equipment, trucks and foodstuffs, "Nimr catastrophe ... I AGNI missile good profits but after the war stopped the practice of commercial activity and closed offices. We spend savings on our livelihood, but almost been depleted. "
The American authorities say they pumped aid to the tune of 21 billion dollars for Iraq from 2003 to 2006 and is seeking to provide more than $ 2 billion in 2007.

The bulk of the amount spent on training and arming the security forces and the establishment of the judicial system and the holding of elections and the remainder went to rebuild the infrastructure of bridges, roads, electricity and water supply.

According to the American authorities that the American projects provide half of the electric power available.

Despite this, there is still a shortage of electricity supply so that people get from the capital Baghdad on electricity for six hours on a normal day is lucky.

The citizens stand in line for hours in front of petrol stations and ultimately find in the country has the third largest reserves of crude oil in the world.

He said Daniel Spekhard American responsible for the reconstruction in Baghdad, "We expected that, unfortunately, when the United States Vsitmtaon the same advantages of modern market economy enjoyed by the United States."

In the absence of a natural Mali, as it exists in the West, the main function of the Central Bank is to maintain the stability of the Iraqi dinar control while the Ministry of Finance in the budget funded largely from oil sales and American aid.

And harmed by decades of war and international sanctions and the lack of investments in the oil sector important, but it was relatively stable before the invasion in 2003 while following crises since then.

Before the war, Iraq was pumping about 2.5 million barrels daily and sells them 1.7 million barrels a day and production levels before the war in Yugoslavia in 1990 about three million barrels per day.

American officials said they hope to be able Iraq by the end of this year, from pumping quantities of oil beyond what it was before the attribution, and expected to reach production to 2.8 million barrels per day and exports 2.2 million barrels.

In the long run Iraq aims to produce six million barrels a day.

At the present time production fluctuates with two million barrels per day, Iraq has been slightly more than a million barrels while struggling to save the vital industry from collapse.

The oil revenues vital for economic recovery in Iraq since the driving force enabling the government to gather resources to provide better services.

But economists rule out making rapid recovery.

In February, Colonel David Bender said program coordinator at the American projects contracts in the electricity sector in Baghdad that the capital's population have access to electricity for four to six hours per day because of attacks on power lines.

He added that the population of the rest of the country, including in Basra have access to electricity for between 10 and 11 hours a day on a sporadic basis.

On the other hand, it represents the closure of roads problem for the Iraqis who seek to earn a living.

Says Ibrahim Khalil (42 years old), a car mechanic, "earning $ 300 per month on average, which are not sufficient to cover all Massarive."

He continued, "fell practical due to the weakness of traffic. Hit me difficult to Rishti to repair their cars due to the closure of roads and the sudden holidays and curfews. "

These conditions may push some people to migrate in search of work.

Said Ali Abdullah (32 years), a driver lost his employer while closed his office "is now working as a taxi driver, but I can not cover the demands of life."

He continued, "There are other alternatives was sell my car and I open a bakery or maybe I travel to Jordan to work with my relatives there. If I can not find a job and I think I may make a request for asylum to a European country to live there forever. "

The winner of five million Iraqis on some form of mobile service which is a type of welfare in a country that surrounds live dangerously and where land lines are not working efficiently, but they face another problem is the weakness of the reception due to confuse the military aviation

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Congressional delegation in Baghdad to review the progress of reconciliation

Baghdad Ali Khalil
The delegation of the Congress of the United States of Iraqi Prime Minister Nuri al-Maliki found on the initiative of national reconciliation in addition to the security situation in Iraq ". according to a source close to Al-Malki, the time »learned that the congressional delegation began an unannounced visit yesterday. He pointed out that the »Al-Maliki said his government's seriousness in their importance draft reconciliation and national dialogue, and its intention to address the imbalances of the security situation through a package of measures parallel effort of security, military, political, economic and Al. The source did not reveal any other details about what happened during the meeting discussed, but only reference to it was a gathering »whatever was frank", the the source also refrained from commenting on the news of a connection between the meeting and telephone call made by President George Bush with Maliki on Friday and discussed the security situation and efforts to secure Baghdad. They discussed the political process and the need for progress in national reconciliation, according to White House spokesman Tony Snow.
In the meantime, renewed criticism of America for the performance of the Iraqi police, as quoted by the New York Times »" and the American ambassador to Iraq, Zalmay Khalilzad, »saying that the United States may reduce the volume of financial assistance to the Iraqi police. in keeping with United States law prohibits providing assistance for foreign security services involved in the commission of violations of human rights ".
The newspaper pointed out that a joint American-Iraqi had been inspected one of the prisons run by the Interior Ministry in eastern Baghdad last May. and there are clear signs of violations and torture in the prison.
Khalilzad explained that Washington did not reach this decision Baghdad formally so far, He added that he was still optimistic that the Iraqi officials will take appropriate action to rectify this situation.

Azzaman Newspaper International-Issue Date 2515-2 / 10 / 2006

»Azzaman newspaper" international-number 2515-the date 2 / 10 / 2006

BAGHDAD : the Declaration of the leaders pledged to stop sectarian terrorism
22:15:00 GMT 2006 Monday, October 2
D Osama Mahdi



--------------------------------------------------------------------------------


Osama Mahdi from London : Baghdad announced tonight on the agreement by the leaders of political blocs to stop the bloodshed in Iraq and sectarian terrorism. He said Iraqi Prime Minister Nuri al-Maliki told reporters tonight after meeting a number of the political blocs that this agreement is the fruit of the efforts of several made in the holy month where they pledged political forces to stop bleeding on the Iraqi sectarian and stop terrorism.

Maliki followed a statement by the leaders of the bloc leaders pledged to work together to form a political and popular areas in cooperation with the security agencies to strengthen the role of the Security Council, in addition to a special committee to follow up the implementation of actions for the implementation of this compact. The agreement was signed by the leaders of political entities represented in the Iraqi Shiite coalition and the unified Sunni Accord Front and the Iraqi List and the National Dialogue Front.

At a press conference following the announcement of the agreement in which Tariq Al-Hashmi, Vice President of the Republic, the Secretary-General of the Sunni Islamic Party and Adnan Al-Dulaimi President Accord Front and Khalaf Al-Alyan President of the Front national dialogue and Sheikh Jalal Al-Din Al-Haj and small Hashem, Hadi Al-Ameri of the Shiite coalition.

Sheikh said that the small main title is "undertaking to stop bleeding on the Iraqi prohibited and sanctity." He added that the undertaking comprises one point included four most important mechanisms "to find a joint security committees in each region made up of popular and political forces, religious addition to the armed forces" working on the follow-up to the situation.
As for the disarmament of militias as called for the Sunni Arabs have repeatedly said the small "to talk about tomorrow at the meeting, which will discuss the position of the militias and terrorist groups alike."
For his part, Chairman of Accord Front Adnan Al-Dulaimi "If everybody is sincere in its direction and obligations will accrue aspirations of the Iraqi people from Shiites and Sunnites to stop the bloodshed and sectarian strife" . He warned that failure to stop the bloodshed, "will end on Iraq with all its components, our objective of this agreement is to stop the bloodshed and reciprocal violence if all designed to work for the achievement of this agreement will be realized pursuant to achieve security and stability for the Iraqis." He pointed out that there are issues to be agreed upon tomorrow, including a plan for the full implementation of this agreement. "

http://64.233.179.104/translate_c?hl.../10/181026.htm

New Mideast chief says World Bank must be useful


The World Bank is often regarded in the Middle East as a tool of the West. but the 95-96 new regional head says that isn't she's getting the message.

"The consistent message is that they want the bank to stay engaged and in fact they all said they want more of the bank, which is a good sign, "Daniela Gressani, the 95-96 new vice president for the Middle East and North Africa, said.

From managing Western aid in the West Bank and Gaza to overseeing rebuilding in Iraq and Lebanon and anti-poverty programs elsewhere, the World Bank is often exposed to criticism from Middle Eastern governments and society.

But Gressani, appointed 10 days ago just in time for the World Bank and International Monetary Fund meetings in Singapore, believes the institution can play a useful role in the region.

"Many of these countries are doing well financially and value our technical assistance and policy advice, even more than they value our lending, "she said in an interview on Thursday.

The World Bank is not always viewed as a neutral broker everywhere in the region, where some see it as an enforcer of Western ideals and now headed by Paul Wolfowitz, a former No.. 2 official in the Pentagon and an architect of the Iraq war.

Her predecessor Christiaan Poortman, a 30-year bank veteran, left his job suddenly this month after differences with Wolfowitz and his advisers over Iraq and other issues.

But Gressani, an Italian national, is no newcomer to the bank and its challenges.

Her 18-year career has covered bank developing countries such as Vietnam and Bosnia to emerging nations like Poland.

"Our work is about addressing the needs of the people and if we can communicate that effectively don't I think that we will need to spend too much time worrying about personalities, "Gressani said.

In the Middle East, she will oversee poor countries like Djibouti and Yemen, also developing ones like Jordan, Egypt, Iran, Libya and the oil-rich Arab states of Saudi Arabia, Kuwait, Bahrain, and the United Arab Emirates.

In Iraq, Gressani said the World Bank was recruiting international staff to expand its small office in Baghdad, as donors demand greater bank involvement in coordinating projects funded by foreign governments.

Until now, the bank has operated from an office in neighboring Jordan after staff were evacuated following the bombing of UN headquarters in Baghdad in August 2003.

[B]"Iraq needs the bank once again, more as an adviser than a lender," Gressani said. [/B]
"Having technical staff on the ground we can better identify the needs of the government more easily and to deliver those needs, "she added.

Of efforts by the Palestinians to form a new unity government, Gressani said : "It is a great hope."

Donor countries halted aid, managed by the World Bank in a trust fund, Hamas-led to the Palestinian government elected earlier this year over its refusal to recognize Israel and renounce resistance against the Jewish occupation, leaving the territory on the brink of financial collapse and many state workers unpaid.

"Many governments are concerned about the needs of the people and would like the World Bank to keep this in mind, "she said.

"We are actively working with donors to do that but we are constrained by what our board wants us to do," she added.

In Lebanon, the World Bank is working with the government to rebuild the economy damaged by a 34-day bombing campaign between Israel and Hizbollah in the south.

But Gressani said that as the country rebuilds, it also needs to be careful not to add to its massive public debt, one of the highest in the world.

"To address the debt problem we need to make fundamental changes on structural reforms and we see our contribution ... As ensuring that conditions will be there for the debt problem to be addressed, "she added.

Gressani stressed that while the bank should be there for countries like Lebanon, its work needed to focus on more pressing regional problems of high unemployment and poverty.

but has since stagnated, fluctuating between 20 and 25%.

"Every delegation has mentioned unemployment as one of the top concerns and of course you can not create jobs if you don't have a dynamic private-sector willing to invest, "she said.

"In almost all the countries there is a large agenda and if we want to create jobs we need to make room for the private sector, "she added.

ALARAB ONLINE | Display Page

OANDA, The Currency Site: Foreign Exchange Services and Trading

Looks like they have changed their tune!!!!!!!!!!!

Dose this mean it's trading????????

NOTE: Sorry, I am only going to quote you on the good stuff and add the site I got from yours under "NEWS" on the upper right portion!
President of the Court of the presidency of the territory Cordstan responding to the statement, Dr. Hussein Shahrastani, Iraqi Oil Minister

Fraternity
Dr. Fuad Hussein, head of the Office of the Presidency of the Territory : We are part of the Iraqi government, and when we talk about the Baghdad government, we are talking about the federal government which we are Antamel and with the government of Baghdad, the emergence of the site or the opposition. The issue of oil was a statement to the Iraqi Oil Minister, Dr. Shahrastani pointed out that the contracts concluded between the territorial government and foreign companies are not recognized by Shahrastani, These statements contrary to the Iraqi Constitution that the Constitution indicates that all contracts and resolutions issued by the government of the territory since 1992 Cordstan is acceptable decisions and be dealt with on the basis of the Iraqi Constitution Shahrastani statements have led to reactions to the territorial government. As for the natural resources and oil there in the Constitution of an article indicating that the Iraqi oil belongs to the Iraqi people, this means that the King of the Iraqi people in all its components, and the oil issue, whether in Iraq or in Cordstan be dealt with on the basis of the current Constitution, which was accepted by the majority of the Iraqi people and the الدكتو R. Shahrastani also from persons excited him and the participants in writing.
Pending the issuance of the Iraqi oil and Alcordstani We depend on materials related to the oil in the Iraqi constitution and the law when there is oil for Iraq in general and the oil Cordstan, these laws will be put forward in the Iraqi Parliament and the Parliament Cordstan will join alliance Cordstani in Seag e Law of Oil in Baghdad, we were part of the Iraqi parliament and the result, the Law oil future must be based on a correct interpretation of the articles on oil in the Iraqi constitution explanations or press statements These views can not be adopted as the legal or constitutional Therefore When there are statements of Al Haveh be a reaction to these statements.
Certainly the leadership of Alcordstaneh constants is clear : we believe in the federal system in Iraq, and we are part of the federal system in Baghdad and we are not in opposition are in government and federal territory Cordstan been kept in the Iraqi constitution, which was approved by the referendum and we in our public build on the Constitution Iraqi and move within the articles.

Originally Posted by CharmedPiper

Iraq's economic problems increase the sense of despair

London (Reuters) - Iraqis may have cellular phones and Internet cafes, but did not enjoy the benefits of real economic little since the fall of President Saddam Hussein three years ago and are now poorer than they were before the first Gulf War.

Still to survive is the highest priority for the Iraqi Some believe that the country was teetering on the brink of civil war. However, the improvement in the economy will raise the morale of many citizens, and perhaps also help in reducing the violence rages unabated.

The World Bank statistics show that per capita income went up from 479 dollars in 2003, when the United States led the invasion of Iraq to about 1188 dollars in 2005 while the per capita income in 3240 dollars in 1980.


The American authorities say they pumped aid to the tune of 21 billion dollars for Iraq from 2003 to 2006 and is seeking to provide more than $ 2 billion in 2007.

The oil revenues vital for economic recovery in Iraq since the driving force enabling the government to gather resources to provide better services.

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Again, remember what the Minister of Finance stated in the press report when he said that he would be speaking in the meetings with the Governor of the Central Bank of Iraq, about the "poor" as having the share of the wealth of the land of Iraq as they are citizens as well! (From the lady that owns the deli next to where I have an office, she speaks arabic!)

RV coming, the government folks and their educated leaders and even some of the common folks like myself agree that their "dinar-bucks" need a RATE kick and soon! Smell that?

Smells like an RV heading our way!

FXConverter Results

Tuesday, October 3, 2006

1 US Dollar = 1,533.80 Iraqi Dinar

1 Iraqi Dinar (IQD) = 0.0006520 US Dollar (USD)

Interbank rate +/- 0%

This means:
You buy 1 US Dollar : 1,533.80 Iraqi Dinar
You sell 1 US Dollar : 1,407.70 Iraqi Dinar
You buy 1 Iraqi Dinar : 0.0006520 US Dollar
You sell 1 Iraqi Dinar : 0.0007104 US Dollar

Learn about the new Iraqi Dinar
Median price = 1,407.70 / 1,533.80 (bid/ask)
Minimum price = 1,407.70 / 1,533.80
Maximum price = 1,407.70 / 1,533.80

Just thought I would post this. It doesn't match CBI rate but what the heck.

Here is the CBI rate

Number of banks 14 -----
Auction price selling dinar / US $ 1472 -----
Auction price buying dinar / US $ ----- -----
Amount sold at auction price (US $) 57.010.000 -----
Amount purchased at Auction price (US $) -----
Total offers for buying (US $) 57.010.000 -----
Total offers for selling (US $) -----

Tuesday, October 3, 2006

1,000,000 Iraqi Dinar = 710.379 US Dollar

1,000,000 US Dollar (USD) = 1,407,700,000 Iraqi Dinar (IQD)

Interbank rate +/- 0%

This means:
You buy 1,000,000 Iraqi Dinar : 710.379 US Dollar
You sell 1,000,000 Iraqi Dinar : 651.975 US Dollar
You buy 1,000,000 US Dollar : 1,407,700,000 Iraqi Dinar
You sell 1,000,000 US Dollar : 1,533,800,000 Iraqi Dinar

Learn about the new Iraqi Dinar
Median price = 0.0006520 / 0.0007104 (bid/ask)
Minimum price = 0.0006520 / 0.0007104
Maximum price = 0.0006520 / 0.0007104

If you go IQD TO USD you get 710.00 a mil!

If you go USD TO IQD you get 650.00 a mil!

Originally Posted by goldraker

Tuesday, October 3, 2006

1,000,000 Iraqi Dinar = 710.379 US Dollar

1,000,000 US Dollar (USD) = 1,407,700,000 Iraqi Dinar (IQD)

Interbank rate +/- 0%

This means:
You buy 1,000,000 Iraqi Dinar : 710.379 US Dollar
You sell 1,000,000 Iraqi Dinar : 651.975 US Dollar
You buy 1,000,000 US Dollar : 1,407,700,000 Iraqi Dinar
You sell 1,000,000 US Dollar : 1,533,800,000 Iraqi Dinar

Learn about the new Iraqi Dinar
Median price = 0.0006520 / 0.0007104 (bid/ask)
Minimum price = 0.0006520 / 0.0007104
Maximum price = 0.0006520 / 0.0007104

If you go IQD TO USD you get 710.00 a mil!

If you go USD TO IQD you get 650.00 a mil!

I am not familiar with that site. Does this mean that if you have an account with them that you can buy and sell Dinar at those rates? If so I would say that is a huge "dancing banana" type of development.

I do not think so. The lower rate would be the buy offer. The higher number would be the sell offer.