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

I think an important issue to support a reval or new exchange rate is that all financial institutions should be ready to handle large transactions, different kind of payments, large volumes.

I read in the second review of the SBA of Iraq (from august 2006) that the development of a payment system through the Automatic Clearing House has a deathline of 31 november 2006.

Their status in this document was that is `ahead of schedule´.

Payments between the headquarters of commercial banks and the CBI can be executed by this system.

The Automatic Clearing House is a payment system to reduce paper work which can handle large volumes, electronic payments and also debiting and salary payments, purchasing stocks etc..

All other payment systems and financial steps must have been completed, this is the last one.

To support a rv and to open for international trading I think this must be finished first.

Then again, they will be given debit cards away on the 16th.
This could mean that it must be finished already and regarding the status `ahead of schedule`, it is possible that everything is ready.

There should already been a third review of the SBA from the IMF, but I couldn´t find it yet.

IMF: Site Search Result for Collection: ALL, Query: review sba iraq

Originally Posted by PAn8tv

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

Wonderful post! Makes one wonder why they are in such a hurry. However, Iraq does not seem to be on the WTO Schedule for the rest of the year.

http://www.wto.org/english/news_e/meets_e.pdf

Behind closed doors?

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; can you all now see that the rumors about it being someones 'fault' and how it was done last year etc. were bogus since without article VIII we wont see international convertibility OR a revalue.)

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.

There was an article back some pages that i read I think you posted it I think it said that they was members of the WTO.. sorry if Im wrong but Im sure it said that..I'll look see if I can find...

I was just watching the currency exchange Business News and it showed EUR/IQD at 1836.1 I don't think I have ever seen it this low recently....something's up IMO....hmmmmmmmm!

Originally Posted by Adster

Nice one Wardy. Remember this was only 3 years ago it was at that rate. No reason why in time they won't get back to that.

Adster,

Forgive the novice here. The rate from 3 years ago, I thought I have read in other posts that that too was an artificial rate set by Iraq, and that the dinar was not fully tradeable at that time as well.

Sorry if this has been rehashed before..

Randy

Originally Posted by Adster

Guys, how bout we post, up and coming important dates? This wil be useful and maybe mods might want to make a sticky out of it???

Feel free to add to this list.


15 Oct Anniversary of the new dinar, (3 years)
16/23 Oct Issuing of debit cards
24 Oct End of Ramadan
24 Oct Eid al Fitr
30/31 Oct IAMB Meeting and ICBG to launch
30 Nov International Compact for Iraq signed
1 Jan Start of new fiscal year
22 Mar SBA expires

You can add this:


16 October Launch of World Investment Report 2006
Geneva, Switzerland

Programme Events

Event: Launch of World Investment Report 2006
Date: 16 October 2006
Location: Geneva
Description: The WIR 2006 will present the latest global and regional trends in FDI, with a special focus on rising investment flows from developing and transition economies. It will analyse the causes of this rapid increase and explain who the main actors are and what it all means for development.

The Report is under embargo until
5 p.m. GMT on 16 October 2006.


UNCTAD.ORG >> Home >> Launch of World Investment Report 2006


Are these reports always embargoed?

Originally Posted by CharmedPiper

I was just watching the currency exchange Business News and it showed EUR/IQD at 1836.1 I don't think I have ever seen it this low recently....something's up IMO....hmmmmmmmm!

Maybe this has nothing to do with what is being mentioned about the EUR/IQD exchange rate, but I thought I heard a few days about the US Dollar gaining strength. So if the Dinar is currently pegged to the Dollar, then wouldn't that mean the dollar gains strength against the Euro, whereby 1 Euro doesn't buy as much Dinar as it used to? Maybe I'm completely clueless on this (it has been a very long week for me, after all). Just wanted to throw that one out there.

Report by the Secretariat Dated 9/13/2006:

Abstract: Trade Policy Review. trade policy regime: framework and objectives Overview During the period under review, Bangladesh's legislative and institutional framework governing trade and foreign direct investment has changed only slightly. Efforts have been made to ensure better policy coordination of......

Ok this was in September with the WTO. Now October 10th:

Report

Report by the Chairman of the Trade Negotiations Committee

Thank you, Mr. Chairman.

At the last meeting of the General Council in July, I undertook to continue my contacts with participants at every level in order to facilitate resumption of the negotiations. This remains my top priority. I want to report today on the results of those contacts so far and on what, in my judgement, is still needed before the negotiations can usefully resume.

Since July, I have talked to many Ministers and officials across a broad range of the membership. I have attended the meetings of the G20, the Cairns Group and World Bank-IMF, and I have visited China and Nigeria. I will be going to Brussels and Washington this month. I have also met here in Geneva with the Negotiating Group Chairs, coordinators of regional and other groups, and various delegations...........

Question - After reading both of these - is Director-General Pascal Lamy telling the WTO to hurry up because of Iraq? Is this something "between the lines here"?

Thoughts?

Originally Posted by benzboy

I listened to a conference call from and by freedinar tonight, they are very pro and believe, the rv is upon us. BUT they state that some Dr. cant remember his name, they are working closely with says the reval will be very small and work its way up to a dollar over a period of a year. I know what I think and want, why would someone who has nothing to gain by making this statement, say such a thing, or it it just like assholes and opinions everyone has them? what are your thoughts
benzboy

Who they are quoting is Dr Quas Quadouri (Dr Q). He is some how part owner or something with FreeDinar, he has always preached a low reval, but in everything that he has predicted so far not one thing has come to pass. Take what they tell you with a grain of salt.Although there call was more laid back than normal, Without all the hype of how to buy more dinar. They even said that this may be their last conference call. Hmmmmmmm

Originally Posted by CharmedPiper

I was just watching the currency exchange Business News and it showed EUR/IQD at 1836.1 I don't think I have ever seen it this low recently....something's up IMO....hmmmmmmmm!

I noticed too! When I peaked a few minutes ago was at 1835.7, definately moving in the right direction and moving much faster than it used to