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

High inflation in the price of consumer goods in Iraq by 15.1%
> > October 15, 2006
> > A report issued by the Central Agency for statistics in the Ministry of
Planning declared a rise in the indicators of inflation at the consumer goods
and foodstuffs last August by 15.1%. A field report of inflation, for the same
month, on the prices of goods and services which forms the basket of the
consumer retail prices, was made in selected markets in Baghdad and other
governorates. "
> >
> > He stated that this increase was the outcome of the high index of foodstuffs
which increased by 6.1% while beverages and tobacco by 0.1%, fabrics, clothing
and footwear, 1.5%, furniture 0.8%, fuel and lighting 57.8%, transport and
communication 20.8%, medical services and medicines 7%, miscellaneous goods and
services by 3.3% and lease by 0.7%.
> >
> > The report also noted that the annual inflation index rose during the period
from August 2005 until August 2006 by 76.6%.(Source)AlSabah
> >

Wrong strategies leading Iraqi economy
>The foreign investments issue in Iraq is taking several tendencies where
viewpoints differ between supporters, opponents and conservatives. In this
issue, Dr. Sabri Al-Saadi, an Iraqi economic expert, says that there is a flaw
in understanding the foreign investments issue in Iraq. It is a parasite
feeding on Iraq's funds and bringing no money with it. Al-Saadi said in a recent
study published by (the contemporary conflicts center), a U.S. research center
which provide advice to the Supreme decisions makers in the United States of
America: "the recovery of individual and public freedoms, the enjoyment of
democracy and the eradication of terrorism in Iraq are associated with the
success achieved in the economic reconstruction, reducing unemployment, ending
poverty and achieving social justice in the standards of health, education and
social security services. I also stressed that the success of the new Iraqi
state needs leaders that have comprehensive national vision, particularly in
strategic and economic policies".
>
> Al-Saadi added that the abundant oil resources are the property of all and the
right of future generations as well. The ruling authority and parties, whatever
their identities are, have no right to compromise it at any expense or use it as
a political, economic or financial power to serve their own interests. the
publishing of the study is an attempt to offer an independent national economic
point of view the against the government national development strategy for the
period from 2005-2007, as well as to discuss the American economic strategy
contained in the national strategy to achieve victory in Iraq, which the
American President announced in early December 2005. Al-Saadi finds that the oil
financial resources currently available are sufficient even with the
continuation of the current oil production and export. The confirmation of
officials, politicians and American administration that the main problem in the
economic failure are the scarcity of material, financial resources and the
continuation of terrorism in the country, is a blatant fallacy. In his opinion,
the current economic problems are arising from the inability of the American
economic, political, financial and monetary strategy adapted to the actual state
in Iraq and from misusing public petroleum resources which was one of the main
reasons for the political chaos, violence, the spread of crime and
administrative corruption.(Source)IMNSR
>

A high rise in Iraqi exchange rates
> The trade exchange at Safwan border outlet witnessed an increase in its normal
rates. Mr. Khalid Azzeidi, director general of the outlet, attributed the
reasons for this increase to the goods supplying processes for the benefit of
the State Ministries in accordance with the orientations of the government to
import materials used in the process of building infrastructure of the country.
The import ratios rates are expected to continue rising during the next two
months. He also explained: imported materials that are exempt from customs
duties include all building materials, electrical power generators, water
purification plants, productive cars, tourist saloon cars imported specially for
municipal services and the reform of the electric power networks.
>
> He added: The rates of import rose to more than 300 trucks per day and that
their entry through the outlet has been going on according to a plan prepared by
a coordinating body in the Green Zone. As for the revenues of customs duties in
the outlet, he stated that the fees collected from non-exempt materials of the
customs duties rose about three million dinars per day compared to previous
months and the total amount of fees is estimated by seven billion dinars per
month, deposited in the accounts of the Ministry of Finance being the authority
entitled to deal with it.(Source)IMNSR

BAGHDAD, 15 October (IRIN) - (i)The tenth in a series of IRIN stories examining the obstacles Iraq faces in implementing its government's plan to reconcile different sections of Iraqi society. Click on the following link for an overview of the series: (a href="http://www.irinnews.org/report.asp?ReportID=55827" target="_blanck")Iraq reconciliation series overview(/a)(/i)

Kawkab Sami wakes up at 5 o'clock every morning to clean her house and feed her four children breakfast before getting them off to school. As a resident of Baghdad, the 35-year-old widow says she lives in constant fear of a bomb killing her children and herself at any moment.

Her husband was killed by US troops in the US-led invasion of Iraq in 2003. Her children are between the ages of 4 and 10.

With only a few hours of power a day at home, no clean water, and broken sewer pipes in the road outside, Sami cries every night, worried about how long she will be able to take care of her family and keep them healthy.

"I cannot afford a generator and special filter for the water because my salary is hardly enough for the main needs of my children," said Sami who, as a primary school teacher, earns US $200 a month.

"People tell me that I have to boil the [tap] water before I drink it, but I will need to use gas to do that and it is so expensive. The only thing I can do is pray my children do not get sick from it," she added.

Sami's basic costs add up quickly. She pays US $80 a month to rent a small house in a suburb of the capital; $30 a month for milk for the children and US $16 a month on cooking gas. That leaves her with less than $3 a day to feed, clothe and buy other necessities for herself and her children.

"Meat is like gold in Iraq," Sami said, adding that good meat costs US $7 per kilo. "Because I cannot afford that, most of the time we have eggs, which are cheaper. Two or three times a month I buy meat for us, which is seen by my children as a gift." Fortunately, Sami's neighbours help her with some food from time to time.

Millions suffering

Her family is typical of millions of Iraqis who are suffering from a lack of basic needs because of an increasingly dire security situation.

Prime Minister Nouri al-Maliki launched a 24-point national reconciliation plan on 25 June aimed at stemming the violence in the country and addressing the needs of the population.

One of the objectives of the plan is to accelerate reconstruction and create jobs, thereby boosting the economy. Nearly 60 percent of Iraqis are unemployed, according to NGOs, a figure confirmed by the Ministry of Labour and Social Affairs.

Ensuring people can work and have access to basic needs are seen by NGOs as essential elements to stemming the tide of violence in Iraq.

"The lack of essential needs has provoked revolt from the population, and without controls it generates more violence and lack of support to the parliament which is running the country," said Nissirin Hummam, public officer manager of the Bagdhad-based Iraq Aid Association.

"If the Iraq government focuses at least on power, water and sanitation, for sure Iraqis will feel more comfortable, and this can change the picture in Iraq. Locals are not asking too much but just what any human being would need; but they do not have it, while knowing that they live in one of the richest countries [in terms of natural resources] in this world," she added.

Power, clean water and sewage treatment are the most pressing needs for Iraqis.

"Electricity in Iraq is going from bad to worse, and every month we have fewer hours of power," said Salahdinne Alawi, 52, a shopkeeper in Baghdad. "And in addition, the water: before 2003 it was clean and healthy, but today it is not recommended for drinking, making the lives of ordinary Iraqis more difficult instead of improving them."

Slow reconstruction

Government officials acknowledge that reconstruction is moving slowly due to corruption and a lack of security.

In the early days of the US-led occupation of Iraq in 2003, US and Iraqi officials announced nearly 6,000 projects to repair and upgrade the country's infrastructure, said Ibrahim Ahmed, media officer in the Ministry of Reconstruction and Development.

"But only 35 percent of them have been finished, and the main reason is the lack of funds and the increase in violence against employees," Ahmed said.

"To fix the infrastructure of the country you do not need only to rebuild destroyed buildings but generate with it new jobs. This will improve the living conditions of thousands of Iraqis and in meantime allow the population to have the choice of working for a salary [instead of] taking part in terrorism," he added.

Ahmed pointed out that from the initial 475 electricity projects proposed for reconstruction, only 350 are expected to be completed by mid-2007 because a large amount of money has been diverted to security issues, he said.

Lack of money is also greatly impacting the quality of education and health services in Iraq.

In addition, 30 percent inflation over the past year makes it increasingly difficult for families to afford food. At least 70 percent of the population depends on food rations - nearly double the percentage of dependency during former president Saddam Hussein's time, according to government officials and NGOs.

"Iraqis have never required food rations as they do now. Their situation is critical, and poverty has increased along with unemployment," said Ibrahim Abdel Rahman, spokesperson for Peace and Charity for Iraqis, a Baghdad-based NGO.

"If urgent action is not taken soon, Iraq will become a huge land of poor people navigating over a river of oil," he added.

RV for these people and do it NOW!!!!

Cheers!
DayDream

Originally Posted by boogirl

Add Donald Trump to the list. Currently he’s developing The Palm Trump International Hotel and Tower in Dubia.
Palm Trump International Hotel and Tower [Palm Jumeirah, Dubai] - Property Development - TEN Real Estate [UAE]

The Donald lives to find undervalued opportunities like Iraq and if the dinar goes back on the international market at 6 cents they might as well rename the Kurdistan region, to Donald’s Mid-Eastern Oasis.

Between yours and OZ's adds to my post this should wake The Brain up. Man I Just could not believe what he/she posted. The Money is there. I believe that the hold up is for Greed. They are creating ways (Adds to the Laws being Made) to get it all. When they open these gates, "WE WILL ALL BE VERY RICH".

Originally Posted by ourhouse37

morning all. SGS says FIL is passed. Neno says not passed. Which is it really?

I am not saying Not passed. I am saying what it is. "NOT IMPLENTED". Meaning that it is not in effect yet.

Originally Posted by shotgunsusie

could you explain the remark about being equal to their neighbors and fashioning themselves after jordan repetetively?? jordan exchange rate is in no way an equal comparason with your heavy dinar of six cents.

Yes, I too am hoping for that. Iraq's fundamentals are not really that far from its neighbors. In fact, Iraq even trounces some of them in terms of inernational reserves in months of imports. Jordan is de jeure pegged to the SDR basket of currencies but de facto pegged to the USD. Bottomline it's up to Iraq what they want to do. What Iraq wants, they will get. They have the biggest oil reserves in the world "unofficially."

Originally Posted by jsfletcher

The FACT remains Iraq can do whatever they want. From a resource standpoint they will be the richest country on the planet. Remember not to long ago Sadam was squatting on gold toilets. With their recources we may be in for pleasant surprise tht defies all logic

Exactly. And he didn't wipe his But with Dinars, as some say to do now. If anyone wants to rid theirselves of this Investment, as it is to much for you to bare. We have a Want to sell my dinar thread some where in the forum. Please list your sell and stay out of this thread. I am tired of the same questions having to be hashed out over and over when all you have to do is like the rest of us, and Read the post from the past.

I am tired of moving post. If you trash this thread I will just move you. read like this rest of the gang does. No sence in us doing all the work and have some naysayer come in here and post shiit. I am fustrated too with the way Iraq is moving with all the fronts. But we have a Great Gang here dignosing the situation with out the Bullshiit some want to interfer with in this thread.

Start your on Dang thread for that and see how much Intertest you can draw. You can do this here in starting your own dialouge. Damm draw your own crowd in your own thread. Rolclub has no Problem with that. Just when you come here and with no Damm facts just opinion and Bullshiit. That being said, From now on you will be moved to the naysayer thread instead of the Crazy Thread. No since in distroying the Crazy Thread with your Bullshiit.

There I feel better. Now lets get this done. Anymore .06 shiit will be moved to the Rumor section are just banned for not following the Damm rules of this Thread.


BTW jsfletcher, you are so right with they are doing and can do what ever they want. It is plain to see this.

When are the people being issued the 10,000 dinar? I can't find an official issue date for it in any of their papers.

He promised that the next few days would witness more effort to restore law and order in some provinces known for their lawlessness.


Kuna site|Story page|Iraqi PM vows to wipe out militias, create jobs ...10/15/2006