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

(Voice of Iraq) - 10-13-2006 | This issue was sent to a friend

Al s »charge of the protection of the Kurdistan agreement with the British government under American sponsorship
Irbil life-13 / 10 / 06 / /

Kurdish sources confirmed findings of the Ministry of Al s »in Kurdistan agreement sponsored by British and American lead ACCESS Kurdish fighters protecting the territory and borders with other countries.

The sources told Al-Hayat that Al »» an agreement in principle reached by the Ministry of Al s »in the government of Kurdistan with the Iraqi Ministry of Defense auspices of the Ambassadors States and Britain to Baghdad under the assumption forces Al s» protect Iraq's Kurdistan region. It added that the resolution will be presented to the President of the province Massoud Barzani soon for its official approval.

It is said that Kurdish forces from <s &#187;of three brigades in charge of the protection of the border with Turkey and Iran. some also participated in the operations launched by the American forces in some Iraqi cities. as well as their participation in the campaigns of raids and arrests in the city of Kirkuk in recent times.

Parties opposed to the Arab and Turkmen as Al s &#187;order to force their relation to the kidnapping, which affected 182 Arabs and Turkmen in Kirkuk, accusing encroach on private and public property and terrorizing Arabs to leave the city by force.

The Iraqi Prime Minister Nuri al-Maliki announced when he assumed the post of prime minister he intends to dissolve the militias and countless arms in the hands of the State, But officials Kurds rushed to confirm that Al-Maliki is not intended s &#187;these statements, considering it a disciplined force and not a militia.

Sotaliraq.com

(Voice of Iraq) - 10-13-2006 | This issue was sent to a friend

The evolution of the political process leading to an increase of opponents and the narrowing margin of agreement and settlement ... Adoption of the formation of regions threatens political crisis deeper crisis of the Constitution, despite reassurances Al »
London-Jaafar Cross life-13 / 10 / 06 / /
Live Iraq, after the approval of the parliament the day before yesterday the formation of regions, a deep political crisis similar to those seen in October (in October) last year, the eve of the referendum on the draft of a permanent constitution. The essence of the crisis in cases that the Iraqis were divided on the issue of national was supposed to be an umbrella and a common denominator between the interests of charting their own political and new form of the State.

Not to lessen the impact of this crisis that the disagreement on the formation of regions (federalism) was suffused with a tinge that is not sectarian, but as happened with the referendum on the constitution, while most of the year voted against him in the voice of his most Shiites and the Kurds. It joined the opponents of the draft formation regions, in addition to the parties (44 deputies Accord Front and the Front National Dialogue 11 deputies) Current Sadri (30 deputies) and Al »Virtue Party (15 deputies) Shiayan also.

It is noteworthy that the parliament unanimously approved the deputies present, and number 140 out of 275 (or about half the number of deputies) Bill formation of regions by Al United Iraqi Alliance »support of the Kurdistan Alliance Al» (52 deputies).

If not oppose the formation of the Non draft sudden, the application of the law as stated in the Constitution (Article 138), who voted against it, the opposition and Sadri trend »» Virtue Party was not also a surprise, that has been ongoing since the two sides repeated their positions on the opposition to the draft federalism "in this time of fear» lead to the division of Iraq.

It is interesting that the trend Sadri and because Virtue »continuing on the opposing position, despite Anddouwaehma, on the United Iraqi Alliance, led by al-Aziz al-Hakim », which he insists, as "Supreme Council of Islamic Revolution», which also led to proceed with this project, He said that the federation factor for unification of the country and not dividing factor ». Nobody knows the extent of the effect of this difference between the components of Al coalition »united, and the preliminary indications have not shown great confidence shaken between these components. It should be also monitoring the evolution of the relationship. especially between the sternum and ally Al Dawa Party », who heads the government of one of its members Nuri al-Maliki.

On what position Al Iraqi List »(supposedly secular), led by former Iraqi Prime Minister Iyad Allawi, who attend some form of deputies (about half of its membership of 25) came as no surprise as Al touchstone» in terms of tilting activists or present, since Such participation has led to a quorum of the meeting, which is half the total number of deputies plus one, ie 138 deputies. It was not possible to secure a quorum amid a boycott of two Shi'ite parties every year.

It is believed that the participation of deputies of the Iraqi Al », especially some respects basic like former Minister Mahdi Al-Hafidh, the leader of the Communist Party »Hamid Majeed, the meeting and vote in favor of the formation of regions will leave an impact on the unity of the list, especially that Allawi did not depend on the declaration of rejection of this law.

In spite of that endorsement of the territories in the absence of Ravzih, However, "The project maintained the amendments requested Against» said Hadi Al-Ameri (President Al Badr Organization »of the Supreme Council of" ») saying in a television interview yesterday evening said that he said that" despite the breach of the other parties to agreements with us on the project, but we are keen to respect the views and kept amendments i for the opponents, especially the postponement of the implementation of the project 18 months », after approval and because a successful referendum if the voting rate of not less than 50% of the percentage of registered voters ». In spite of these assurances Al »the decision of the formation of regions will greatly influence the political process in the country might be deeper crisis left by the adoption of the Constitution, despite reassurances Al» to the Constitution, especially Article 142 which provides for review of its articles and make the necessary adjustments.

The reason for this is that the evolution of the political process in the country is supposed to lead to the understandings and adjustments to the basic issues and narrow the differences and expand the margin agreement. But what was, and still is, that the margin narrowed agreement with a growing number of opponents. as well as the continued deterioration of security and the piles of bodies and the shrinkage of the economic movement in spite of dozens of security plans and political initiatives.

Joining Sadri trend and because Virtue Party to the opposition Al »» officially leave repercussions on the entire political situation. It is not the fear of "Basic Accord Front» consideration of the law, "This is a ready-division» and accusing Al political blocs Exercise intellectual terrorism on their deputies to force them to come to a vote », but the warning lined Chairman Adnan Al Dulaimi of the negative results in future».

The Al »assurances given to the opponents not only attempts to displace the differences from the transitional Governing Council through the Department of State's temporary law, The end of the Permanent Constitution. It is well known that the basic points of contention between the Iraqis were focused on the form of the State and the type of political regime. When heated debates among political parties revolve around writing the Constitution, the representatives of these parties to be reassured Iraqis that it was agreed that 80% of the articles of the Constitution and the remaining 20% only. But those representatives had expressed their Ihjbonh this century% were the major points of contention : the form of the State and the type of political regime.

If it is attributed to the success of the Iraqi politicians it is a success in the deportation of differences or postpone the time factor may contribute to overcoming these differences.

But the basic question remains : What is the stand of the United States, the main sponsor of Iraq, and its role in reaching this impasse, They did not hesitate to send a military force stormed the headquarters of the central Iraqi central Baghdad and fired minister of electricity whichever Samurai, sentenced on charges of corruption indulge Al embassy in the Green Zone »?


Sotaliraq.com

Sorry if already posted.

Iraq Company for Bank Guarantees aims for late October launch

11 October 2006 (PortAl Iraq)

The Iraq Company for Bank Guarantees (ICBG) is gearing itself for a late October launch. Preparatory work is well underway at the ICBG to ensure a business commencement date at the end of October.
Shareholder and follow on ICBG Board meetings have been held in August and September. During September and October, ICBG management will undertake a structured marketing effort with all commercial banks and finalize guarantee applications with those that will be ready to approach the company on its scheduled launch date.

Guarantee applications for two SME loans are expected in September for management review. Executive, Risk Management, Audit and Grants oversight committees will be meeting shortly to take stock of all preopening work underway. Committee reports will be presented at the next ICBG Board meeting in early October. At this meeting a formal opening date for the institution should be set for announcement.

Through a technical assistance and grants program developed with the ICBG, the U.S. Agency for International Development (USAID) is endeavoring to foster among the Iraqi private banks an SME lending capacity, a shift from an asset-based to a cash-flow-based lending methodology, and development of healthy corporate governance and loan practices.

An increasingly large portfolio of ICBG guaranteed loans offered by participating banks will contribute to national economic development, which will in turn spur SME expansion and associated job growth.

Cheers!
DayDream

Sorry if already posted.

Iraqi ministry begins work on "largest commercial port in the region"

12 October 2006 (BBC Monitoring)

The Ministry of Transport is undertaking the construction of the Great Iraqi Port, the largest commercial port in the region with a shoreline surface measuring more than 22 km extending along the cape in the Faw area to the Shatt al-Arab area near the Abu Fulus port.

Informed sources said that engineering cadres in the company [not further identified] and the ministry completed the preliminary topographical surveys earlier in the current year, while the fundamental engineering designs, geographical studies, surveys and the total cost for the project will be handed over to the Council of Ministers for approval.

Confirmed information indicates that the total cost for the project will reach 16bn dollars over the course of 10 years, during which time large numbers of working hands will be attracted, thereby aiding in the alleviation of the unemployment crisis through which the country is passing. Initial estimates show that the project will provide around 50,000 job opportunities.

A responsible source in the Iraq Harbours Company in Basra says: "In the event that the state is unable to undertake a project of this enormous cost, we shall turn to world investment companies to carry out the project", while other sources say that work on the project will begin its first stage over the course of the coming two months.

The sources explained that the first stage will be equivalent to paving the ground of the port in its entirety, delineating the shipping passages and breakwaters, deepening the shipping draft, and laying the foundations for the piers and the necessary service and administrative facilities. The sources indicate that the harbour's navigable depth will vary from 11 to 28 metres, which will enable large steamships to move and giant transports to unload their cargo without hindrance, in addition to getting out of the problems of the line of the Thalweg and the shallows and [providing] access to other areas in the Iraqi regional waters.

Source: Al-Bayan, Baghdad

Cheers!
DayDream

Originally Posted by neno

The foreign investment law has been passed and will be implemented within a month. Its working procedures are being finalized and the instructions and full details will be issued within a month.

Best regards,

ISX Dept

A couple members got this back as part as a reponse email from the Warka Bank that they have accounts with, I do not have one to agree with.

i was refering to the territories law that was passed. its not to be implemented for 18months so they have enough time to work things out between each other.

Originally Posted by Mike5200

SGS - What is your take on this? They can just go on like this without an RV?

My take on this article is that it contains alot of double-talk and monetary psychobabble. The dinar is currently worth $hiite to the dollar. Seems to me Iraq is still using dollars to decrease/pay off some debt. I have read recently that some professionals/politicians in Iraq are still being paid with dollars and not dinars..this was in a federal reserve publication no less. Now, wrap your head around this one: Eventually everyone has to be paid in dinars. Are they trying to get to that point? Oh yessirree. We read recently that teachers were gonna get, what, a 200,000 dinar raise? That is about $136.00 USD.. What if we "lifted" 3 zeros? (NO IT'S NOT LOPPING) We get 200,000 divided by 1470= $136.00USD, or, 200,000 divided by 1.47=136,054 (lift the last 3 decimal points = 136.000. Now, call me crazy, but I personally think we are close. They cannot keep mixing currencies (between dollars and dinars). Susie, show me where I'm

I know this article is dated Oct. 7, but it was published in today's news, If it's old let me know i'll delete it.
Kuwait gets 11.2 bln dlrs in war reparations from Iraq - Zawya.com | Middle East Business News


KUWAIT CITY, Oct 7, 2006 (AFP) - Kuwait has received 11.2 billion dollars in war reparations from Iraq for Baghdad's 1990-1991 invasion and occupation of the emirate, an official report said Saturday.

The report by Kuwait's compensation authority, published in Al-Qabas daily, said the UN Compensation Commission had so far approved 41.3 billion dollars in war reparations for Kuwait.

The emirate has filed compensation claims worth 178 billion dollars to the UNCC, set up by the UN Security Council after Saddam Hussein's forces occupied Kuwait in 1990 before being ousted seven months later by a US-led coalition.

A majority of the claims were filed for damages in the oil sector, the lifeline of the Gulf state, and the environment, the report said.

Kuwaiti lawmakers have warned their government against giving in to "external pressures" to forgive part of the unpaid compensation, with some threatening to hold the government accountable.

The emirate, however, agreed in 2004 to an American request to substantially cut the estimated 16-billion-dollar debt owed to it by Iraq.

Economic expert : the high rate of the dinar as a deliberate government policy
Dargham of Muhammad Ali
Baghdad - (Voices of Iraq)
Said an economist and industrial today, Thursday, that the decline witnessed by the dollar rate of exchange against the dinar in Iraq is temporary and comes within the government policy aimed at encouraging banks to buy the largest possible quantity of the dollar to withdraw more liquidity and the reduction of inflation.
He explained Mr. Sadiq Abdul Razzaq in a statement to the News Agency (Voices of Iraq) Independent, "one of the policies that government is currently working to follow is to encourage the purchase of foreign currency bonds and the purchase of government loans."
The dollar had reached in the auction the Central Bank today dinars in 1470 compared to 1471 dinars yesterday.
Translated version of Aswat al Iraq :: Aswat al Iraq um=1

It seems even the Brits are getting tired of the parliamentary delays.


British army chief says Iraq pullout needed soon
Last Updated: Thursday, October 12, 2006 | 9:22 PM ET
CBC News
The head of the British army has called Prime Minister Tony Blair's Iraq policies "naive" and said the country's troops must get out of the war soon, according to a published interview.

Gen. Sir Richard Dannatt, chief of the general staff, said the British military presence is exacerbating the security problems in Iraq, according to an interview with the Daily Mail published on their website Thursday.
"The military campaign we fought in 2003 effectively kicked the door in," said Gannett. "Whatever consent we may have had in the first place may have turned to tolerance and has largely turned to intolerance."

Gen. Sir Richard Dannatt said of Britain's deployment in Iraq: 'Whatever consent we may have had in the first place may have turned to tolerance and has largely turned to intolerance.'
(Ministry of Defence/Associated Press)
"I think history will show that the planning for what happened after the initial successful war fighting phase was poor, probably based more on optimism than sound planning," he added.
The public criticism from a serving military official is certain to cause a stir.
Several British media outlets are reporting that Defence Secretary Des Browne has summoned Dannatt for a meeting on Friday.
Dannatt, who just took over the post in August, said he was concerned about the implications in Britain. He said a "moral and spiritual vacuum in this country" has been exploited by Muslim extremists.
Dannatt, 55, has been deployed in Northern Ireland, Cyprus, Kosovo and Germany.
He was commissioned at Sandhurst military academy, where Prince William is an officer cadet and Prince Harry recently graduated.
According to the paper, Dannatt said he understands why William and Harry are eager to serve abroad but has not yet decided whether they will be allowed to fight in Afghanistan.

Iraq Takes Major Step toward Opening Negotiations for Accession to the World Trade Organization

12 October 2006 - Recently, Iraq reached a new milestone in its ongoing bid for accession to the World Trade Organization (WTO) by submitting written responses to a host of questions raised by key members of the organization.

The questions focused on Iraq’s agricultural regime, customs and tariff policies, privatization, intellectual property protection and enforcement, technical barriers to trade, as well as efforts to ensure good governance and fight corruption. They addressed the current state of affairs as well as future intentions of the Iraqi government in terms of regulatory and capacity building reforms.

The submission of Iraq’s replies illustrates consistent progress and momentum towards WTO accession and reform of the trade policy regime, despite challenging circumstances. Since filing its application letter to join the world trade body in September 2004, the pace of Iraq’s progress to date has matched and in some cases exceeded that of previously acceded countries. The USAID-funded ZDIHAR project has contributed to this progress by providing training and technical assistance to Iraqi government officials focused on WTO accession. IZDIHAR worked with the ministries concerned and assisted in compiling and organizing the information needed for the responses.

This step is another milestone on the way to convening the first formal meeting of the WTO Working Party on Iraq’s accession in Geneva, which launches the negotiation process