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

Originally Posted by Raditz

This is what was said:

On February 25, 2006, a source from the Central Bank of Iraq stated that "The exchange rate of the Iraqi Dinar will rise significantly against the US dollar during 2006, adding that all policies will be adopted to improve the exchange rate of the country's national currency."

So it could be really good or just a little growth to us but a lot to them like growing from 1:1470 to 1:700 ..... But we hope for it to grow from 1:1470 to something more along the lines of 1:1.40

Well this is my opinion why they can support a higher exchange rate.

Iraq has a lot of debts. As we have seen all the countries have reduced the debts.

Well that is not because they like the iraqi people. All these countries are sitting on a bunch of dinars and got more dinars for reducing debts. Now we have seen the article that Kuwait receives a 11.2 billion extra for war compensations.

I read in an old document about Kuwait that the plan is to hold all compensations from Iraq in a investment fund. Next is to invest all this money back in Iraq for reconstructing infrastructure, agriculture sector and the oil sector.

The economy will boost and when the time is ready they can cash in. This cashing in will be more than the debt they reduced. Nothing is free in life!

I am sure that all donor countries will do the same.

We also know that the total amount for reconstructing Iraq will be $ 300 billion.

By using a low exchange rate it is never enough to cover the reduced debts of all those donor countries and Iraq will not have enough money for the complete reconstruction.

That is why I think they can and will support an high exchange rate within their possibilities.

How better the exchange rate, the more money is going to flow into Iraq the better it will be for everyone.

Therefore a $1 or higher rate would be a good start.

Just my opinion!

Originally Posted by clintstella

Can't be bothered to scan over the previous 35 pages. Has there been any official report from the press conference yesterday? Anybody please

yeah it was about the minister they stuck in jail.
good details on aswataliraq
and,,,
they are mentioning wto accession.
and,,,
just waitin for em to get done prayin.

More people mad about only 10,000 dinar

Voices of Iraq : Wasit-grant (report)
Books : nakr06 on Friday, October 13, 2006 9:01 AM-BT
Grant Feast of anger and fears of many people in the Wasit
Abdel Jabbar Safrani
Kut - (Voices of Iraq)
When the Iraqi government announced a grant everyone the occasion of the Eid al-Fitr holiday, this announcement caused considerable controversy among residents Wasit governorate, their reactions varied around the fact that the grant can be raised prices. As it was not what was hoped for many especially those with limited incomes.
Fhideh Eid al-Fitr holiday, as they called government, mean giving every Iraqi citizen ten thousand dinars, which is considered by some a curse, not a blessing because of the repercussions in the local market. while others called for increased value, and expect a third party to form two plus when they receive it from banks because of the routine procedure, while not wanting the importance of the citizens.
He said Mr. Ali Hussein al-Tamimi broadly used (Musharraf educational retired) News Agency (Voices of Iraq) Independent, "This action is considered as serious as ten thousand dinars are worth nothing in the market which is a very small amount."
Tamimi added, "It is not possible that they violated happy this is not worth anything as it would cause much trouble for most families, particularly some of it justified to raise prices."
He explained, "the disparity in the amount of the grant between families seems clear, it is calculated on the basis of per capita as well as elsewhere between rich and poor and this is not reasonable There is no need originally. "
He pointed to "the importance of the establishment of controls and reasonable standards, according to the differences, particularly as the cons will be more of the positives."
He added : "Ftdaayat market and the rise in prices which occurs generally reflected on everyone without exception, as long as the ration card standard adopted with regard to the number of families and individuals, it should be a lump sum calculated according to the family and not the individual."
He said, "what it described as the government grant or grant feast or violated is not a blessing but a curse to be happy, we will have solved many negative returns starting to increase prices if hearing the news of this grant."
In the same context, Abbas asked Qarishi (owner of Electronics) whether the Iraqi citizen equal to the value of ten thousand dinars at the government or that the decision was made in haste.
He told Qarishi (Voices of Iraq) "did not have in mind the amount of the grant to begin that very cheaply, especially that the decision of the government is still in the beginning."
He added : "The Iraqi people deal with the realities existing in the country is under the pressure of severe conditions, known negative effects left by the day."
He said that "the psychological repercussions of the citizen took the negative trend and not positive about this grant," pointing out that "some people considered it a mockery of the Iraqi man."
He said Haji Aziz Faraj, an employee "families consisting of 17 individuals, and this means I Satselme amount of 170 thousand dinars, but my sister, the widow of the deceased and her husband have three children, which means they receive only 40 thousand dinars."
He added, "We can not get rid of the psychological factors due to these differences."
He pointed out that "this grant made way for the employee and retired, who had hoped to receive a lump-sum grant from the elections as was the case in previous times."
He said that "ten thousand dinars fill the eighth suit a small child or a model can be purchased for Eid," expressing his hope to increase this amount.
For his part, Aziz Kazim (a form contract), "not equal to the amount anxieties, which awaits the Iraqi citizen, especially at this stage where there is a lot of problems and complications exist on the ground."
It was Dr. Skinner, spokesman for the government had announced a week before the Cabinet for the payment of the amount of ten thousand dinars each citizen the occasion of Eid al-Fitr.
He pointed out that "the amount paid by check according to the ration card, and the disposal of banks in Baghdad and other governorates."
Sources at the Ministry of Commerce, said that the ministry was preparing a thorough and urgent to implement the decision of the Council of Ministers Judge regardless amount.
It is estimated that the number of individuals covered by the ration card, according to the ministry's statistics, the same 29 million people who constitute the approximate number of the Iraqi population.

Originally Posted by PaulieThaGreat

So it could be really good or just a little growth to us but a lot to them like growing from 1:1470 to 1:700 ..... But we hope for it to grow from 1:1470 to something more along the lines of 1:1.40

Don´t think so. Let the 1470 go. It is a program exchange rate and is not real.

The real value was the pre-war value of $0.31 or something like that with debts.

A lot of the money has to come from the donor countries. These guys hold a lot of dinars and compensation from Iraq which will be reinvested in Iraq.

A low exchange rate is not doing good to them and is certainly not helping Iraq with reconstruction. The less money the worse for Iraq and donor countries.

Besides that I think that the CBI is using their monetary policy to reduce some inflation and that the big inflation eventually must be tackled by setting the right exchange rate.

Don´t think that happens with a very low exchange rate.

If you have time you should read this study, its about 25 pages!
http://web.mit.edu/cis/pdf/Human_Cost_of_War.pdf

In comparison, the much-criticised Iraq Body Count relies only on media reports (mostly Western and often by conflating 2 different sources) for their maximum body count of 48,639 civilians. I have said and will say again that the media reports only a tiny fraction of deaths in the country, usually the victims of car bombings or other significant violent events.

The collaborative study by the John Hopkins University, The School of Medicine at the Mustansiriya University, and the MIT Center for International Studies, pubished in The Lancet, is not the same. It is not an actual body count. This is an estimate of the total number of excess deaths over the last 3 years.

It uses cluster samples (uniform groups of samples in a specific geographical areas) as opposed to simple random samples. This is usually much more cost-effective and easier and in this case it’s, unfortunately, the only available method to get an estimate.

Simply put, the methods used by the study are valid, but in Iraq’s case, where the level of violence is not consistent throughout the country, I feel that the study should have been done differently. 654,965 excess civilian deaths is an absurd number. My personal guesstimate would be half that number, but the total count is not the point now.

Take a look at the incidence of reported deaths from violence across the country over the last 3 years. (My map, with data compiled from news stories.)

Read the full article here: Healing Iraq

This is a great post from IIF

It is clear some do not see this. You have to read between the lines of the info we hear coming out of Iraq. The direct and indirect investor has two different goals. The FIL has to take both into account.

LawkSalih.Com - Investment law seeks to enhance the competitive capabilities of the economy
Dr. Mahdi Al-Hafiz, member of the Parliament and former minister of planning, said that it is obvious to have divergent views and opinions on foreign investment, which is not confined to Iraq, but extend to other countries. They are the themes of a debate between experts and the economic policy makers in the world; therefore, objective discussions on the subject need to be encouraged. They need to be approached according to an intact context that gathers economic and political considerations at the same time, in order to reach a sound attitude towards encouraging foreign investment law which is presented before the Parliament now.

He explained: in fact, there are two types of foreign investment: the foreign direct investment and Foreign Indirect Investment. The difference between the two is that the first is a real, long-term investment in the productive and service sectors of the national economy, like industry, agriculture, energy, tourism, communications and others. The second type, the indirect foreign investment, is concentrated in the financial markets where foreign bodies, individuals and companies, own the shares and stocks, private or governmental and circulate them o achieve profit.

He continued: "What concerns us in Iraq is the research in the benefits of foreign direct investment, and concentrate at its benefits as an external funding source for economic and service projects in the framework of the national development strategy and its priorities. The truth is that the benefits of foreign direct investment are clear and of significant importance for the remarkable development experiences in many countries such as China, India, Malaysia, Mexico and Brazil and other countries in the world, in all continents. They are the acquisition of modern technologies, the fight against unemployment (creating job opportunities), the development and diversification of exports and the variation of the productive base of the national economy and others. This is what Iraq needs, more than ever, in the framework of his policies and orientations to reform and diversify the economy, reconstruction, tackling the problem of unemployment and improve the quality of services and expand them. It is an urgent necessity imposed by the significant lack of internal financial resources, compared to the high estimated cost to achieve these programs and projects.

The rv plays a different role in both of these. The indirect investor wants to see the immediate rv. The direct investor wants to see a deferred rv to leverage his in-country purchase power. Iraq needs both. The stock market will not receive greater than 10% foreign investment when it opens. The first rv will follow and serve to cause indirect investors to sell off for profit and will attract indirect investors with an eye on long term growth. The talk I hear is of a tiered rv sometime soon after the opening of foreign investment to the stock exchange. Not one big rv but a series of exchange adjustments. It makes too much sense. Shabibi is selling this point when he says he want the dinar on par with the dollar and he knows he needs direct foreign investment in any shape he can get it. Smart man. He can have the best of both worlds. We are closer than we think but the longer we keep our money the more we will make. Some will make good money. Some will make a fortune. Iraq will emerge strong. This is the win-win-win for all. This is all between the lines. January is right around the corner. Leonard.

Originally Posted by Hope Full

More people mad about only 10,000 dinar

Voices of Iraq : Wasit-grant (report)
Books : nakr06 on Friday, October 13, 2006 9:01 AM-BT
Grant Feast of anger and fears of many people in the Wasit
Abdel Jabbar Safrani
Kut - (Voices of Iraq)
When the Iraqi government announced a grant everyone the occasion of the Eid al-Fitr holiday, this announcement caused considerable controversy among residents Wasit governorate, their reactions varied around the fact that the grant can be raised prices. As it was not what was hoped for many especially those with limited incomes.
Fhideh Eid al-Fitr holiday, as they called government, mean giving every Iraqi citizen ten thousand dinars, which is considered by some a curse, not a blessing because of the repercussions in the local market. while others called for increased value, and expect a third party to form two plus when they receive it from banks because of the routine procedure, while not wanting the importance of the citizens.
He said Mr. Ali Hussein al-Tamimi broadly used (Musharraf educational retired) News Agency (Voices of Iraq) Independent, "This action is considered as serious as ten thousand dinars are worth nothing in the market which is a very small amount."
Tamimi added, "It is not possible that they violated happy this is not worth anything as it would cause much trouble for most families, particularly some of it justified to raise prices."
He explained, "the disparity in the amount of the grant between families seems clear, it is calculated on the basis of per capita as well as elsewhere between rich and poor and this is not reasonable There is no need originally. "
He pointed to "the importance of the establishment of controls and reasonable standards, according to the differences, particularly as the cons will be more of the positives."
He added : "Ftdaayat market and the rise in prices which occurs generally reflected on everyone without exception, as long as the ration card standard adopted with regard to the number of families and individuals, it should be a lump sum calculated according to the family and not the individual."
He said, "what it described as the government grant or grant feast or violated is not a blessing but a curse to be happy, we will have solved many negative returns starting to increase prices if hearing the news of this grant."
In the same context, Abbas asked Qarishi (owner of Electronics) whether the Iraqi citizen equal to the value of ten thousand dinars at the government or that the decision was made in haste.
He told Qarishi (Voices of Iraq) "did not have in mind the amount of the grant to begin that very cheaply, especially that the decision of the government is still in the beginning."
He added : "The Iraqi people deal with the realities existing in the country is under the pressure of severe conditions, known negative effects left by the day."
He said that "the psychological repercussions of the citizen took the negative trend and not positive about this grant," pointing out that "some people considered it a mockery of the Iraqi man."
He said Haji Aziz Faraj, an employee "families consisting of 17 individuals, and this means I Satselme amount of 170 thousand dinars, but my sister, the widow of the deceased and her husband have three children, which means they receive only 40 thousand dinars."
He added, "We can not get rid of the psychological factors due to these differences."
He pointed out that "this grant made way for the employee and retired, who had hoped to receive a lump-sum grant from the elections as was the case in previous times."
He said that "ten thousand dinars fill the eighth suit a small child or a model can be purchased for Eid," expressing his hope to increase this amount.
For his part, Aziz Kazim (a form contract), "not equal to the amount anxieties, which awaits the Iraqi citizen, especially at this stage where there is a lot of problems and complications exist on the ground."
It was Dr. Skinner, spokesman for the government had announced a week before the Cabinet for the payment of the amount of ten thousand dinars each citizen the occasion of Eid al-Fitr.
He pointed out that "the amount paid by check according to the ration card, and the disposal of banks in Baghdad and other governorates."
Sources at the Ministry of Commerce, said that the ministry was preparing a thorough and urgent to implement the decision of the Council of Ministers Judge regardless amount.
It is estimated that the number of individuals covered by the ration card, according to the ministry's statistics, the same 29 million people who constitute the approximate number of the Iraqi population.

for those of you who were questioning how the iraqis 'feel' about their 'bonus', lol.

Originally Posted by shotgunsusie

"...application to join September 2004, the pace of Iraq’s progress to date has matched and in some cases exceeded that of previously acceded countries." (and everyone here thinks its takin em too long)

it was AUGUST that the articles came out about the meeting in geneva and the 'working party'. this would indicate that their negotiation process has been ongoing for a couple months now. one would think theyve just about got that done huh, lol.

I hoped for early 2007 but this is much better. First EU Trade Agreement that will be signed soon and now WTO membership.

It is getting better and better!

Ohh, i´m so so sorry