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

(Voice of Iraq) - 10-17-2006 | This issue was sent to a friend

Electricity to deny its responsibility to stop the Baiji refinery and the oil pipelines that are sabotaged
Baghdad / Karim Sudanese
The spokesman denied media to the Ministry of Electricity Aziz Sultan al-Shamri stopped Baiji refinery from work due to power outages. He said in a telephone conversation with (long) that currently feeds the Baiji refinery of four high-pressure lines. He added that all lines feeding unfit for work, except for one line, which was a few days ago, spurred on by the Ministry of Oil and that the presence of a technical malfunction within the liquidator requires suspended from work. Stressing that the thermal station Baiji Mika currently produce 440 watts. He pointed to al-Shamri, a number of obstetric units out of work after seasonal subject to periodic maintenance. Meanwhile, the spokesman of the Ministry of Oil Assem Jihad confirmed that the tanker's oil pipeline between Beiji-Baghdad justified from work for more than a month because of exposure to acts of sabotage by terrorist groups. Jihad said in a telephone conversation with the (long), those totals prevent Maintenance teams of rehabilitation, He pointed out with truck drivers from the transfer of oil derivatives from Baiji to Baghdad due to be targeted by armed groups which burned trucks and killed drivers.
The struggle for the existence of millions of liters of oil derivatives warehouses in Baiji, which covers the need of citizens in Baghdad and other governorates, but delivery is not possible because of the security situation.
Long


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Originally Posted by Adster

How bout this guys, Saddams verdict is due on the 5th November. My thoughts are he'll be hung, and good riddance. Maybe they'll reval on the day they hang him or on his verdict day..........

Something to consider.

nah, i say they revalue and let the slimy turd see how happy the people are being able to spend the money he would have pilfered from them. THEN KNOCK HIM OFF!!

(Voice of Iraq) - 10-17-2006 | This issue was sent to a friend

The Presidency will discuss the security situation in the context of the political timetable


Baghdad / long
The Presidency held a meeting at the residence of President Jalal Talabani, yesterday, Monday, to discuss the security situation and the latest political developments, a statement issued by the Presidency of the Republic, which received the (long) copy yesterday that the Council members discussed the action taken to complete the Baghdad security plan and assess its previous phases. He reviewed the steps of the Presidency of reconciliation, , and the need to support the efforts to achieve national unity and harmony between the components of the Iraqi people.
The members of the Presidential Council all proposals and ideas that would contain the sectarian and political tensions in the country. pointing to the importance of the understandings reached in the framework of the political council of national security.
, Noted that the political council had approved a timetable has been politically implementation of a number of items have been accomplished, agreeing on a timetable for the political and formation of a committee to amend the constitution and ratify the Law of the executive procedures for the formation of regions and the ratification of the investment law is awaiting completion of the ratification of the Law Office of the High Almest few of the elections and the provincial elections and to set the date and the law of oil and the law abolishing the Baath Party and the authorities of the provincial councils and the law of the flag and emblem and the national anthem and the ratification of 91 is issued by the Coalition Provisional Authority on the armed forces and militias in Iraq, as well as to discuss a general amnesty and my pain for Eshiat and other armed formations.


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From home - Welcome to iraqieconomy.org

A 70% rate of inflation October 15, 2006 - The Iraqi Under Secretary of Finance, Kamal Al-Basri, said that the high inflation rates in Iraq are" frightening", calling on the State to link production to spending.
He called on the government, in a symposium held by the Iraqi Center for Economic Reform about" the phenomenon of inflation and the role of financial and economic policies", to take on responsibility of dealing with the inflation rates which hit 70%, because of the abundance of cash liquidity and the lack of goods and services. He attributed the abundance of cash to the increase in salaries and wages by 90% from what it was last year, while the goods and services in the market are becoming less for different reasons, including the security status which disturbed the markets. He pointed out that the individuals' abundance of cash caused a rise in prices. A number of Iraqi officials spoke at the symposium and stressed the importance of moving on with the process of comprehensive economic reform. They considered inflation is the reason why Iraqi economy is weak and faltering.


Well then REVAL!!!!!!

Storm flown Maliki postponed visit to Turkey

(Voice of Iraq) - 10-17-2006 | This issue was sent to a friend

Baghdad / long
He said media source in the Cabinet yesterday, Monday, the Prime Minister Nouri Al-Maliki decided to postpone his visit, which was scheduled to be carried out by yesterday to Turkey for an indefinite period.
The source explained that the reasons for the postponement of the visit of a sand storm in the atmosphere between Iraq and Turkey. He did not say whether the source, who requested anonymity to provide further details.
He was scheduled to fly to Turkey Maliki yesterday, Monday, on a visit to discuss with a ministerial delegation parliamentary political ways of boosting cooperation between the two countries.


http://64.233.179.104/translate_c?hl...p%3Fid%3D36069

News were added on 10-16-2006 21:41

... Throughout the visit Maliki to Turkey due to bad weather!

Baghdad-INA - up and high-Waleed

Declares spokesman for Prime Minister Nuri al-Maliki, Nouri Alkmalki that the visit to Turkey, which was scheduled to begin today, , has been postponed for an indefinite period!
The spokesman added that the reason for the postponement of poor weather conditions as the storm dirt between the two countries ...

Translated version of http://www.iraq-na.com/index.php?sec=news&act=view_cat&cid=1

I notice that a number of responses over in Adster's 50k contest are $1.47.
I'm wondering what the source of that number is.

Zubaidi said something about wanting to "...preserve the value of the Iraqi dinar 148 against the dollar," but how does that translate into one dinar being
worth $1.47 once the dinar revalues? Couldn't he just as easily have meant
it will take 1.48 dinars to purchase one dollar, or 148 dinars for that matter?

I see that SGS has recently morphed from $1.47 to $1.20. I assume that means that Susie has gone back to her original .93 of the euro, but I'm not sure.

Obviously, $1.48, $1.47 or $1.20 r/v rates would be gloriously received here,
but it would be instructive to everyone, I believe, if Susie or anyone else could shed some light on the current foundations for these numbers.

An exhibition for the reconstruction of Iraq at Baghdad International Airport

(Voice of Iraq) - 10-17-2006 | This issue was sent to a friend

Baghdad / long
An official at Baghdad International Airport that there are intensive preparations on the ground for the establishment of the "reconstruction of Iraq" in the middle of March next year
The source added in a statement that the Ministry of Commerce in cooperation with the Iraqi American Chamber of Commerce will organize the exhibition halls at the existing airport, pointing out that work was to build housing complexes and halls for the cost of 60 million dollars within the airport to accommodate companies crossbar
The source, has been formed a joint operations at the airport, the supervisor of the exhibition to complete the process as quickly as possible

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Originally Posted by ccgideon

A few days ago, someone wanted to know what SDR meant. I found this on the IMF and thought someone might enjoy knowing more about the SDR. Sorry it's a little long.

The Special Drawing Right (SDR) was created by the IMF in 1969 to support the Bretton Woods fixed exchange rate system. A country participating in this system needed official reserves—government or central bank holdings of gold and widely accepted foreign currencies—that could be used to purchase the domestic currency in world foreign exchange markets, as required to maintain its exchange rate. But the international supply of two key reserve assets— gold and the U.S. dollar—proved inadequate for supporting the expansion of world trade and financial development that was taking place. Therefore, the international community decided to create a new international reserve asset under the auspices of the IMF.
(the auctions of currency being sold OUT OF COUNTRY would account for widely accepted foreign currencies and gold if they didnt have enough.)
However, only a few years later, the Bretton Woods system collapsed and the major currencies shifted to a floating exchange rate regime. In addition, the growth in international capital markets facilitated borrowing by creditworthy governments. Both of these developments lessened the need for SDRs.

Today, the SDR has only limited use as a reserve asset, and its main function is to serve as theunit of account of the IMF and some other international organizations. The SDR is neither a currency, nor a claim on the IMF. Rather, it is a potential claim on the freely usable currencies of IMF members. Holders of SDRs can obtain these currencies in exchange for their SDRs in two ways: first, through the arrangement of voluntary exchanges between members; and second, by the IMF designating members with strong external positions to purchase SDRs from members with weak external positions.

SDR valuation
The value of the SDR was initially defined as equivalent to 0.888671 grams of fine gold—which, at the time, was also equivalent to one U.S. dollar. After the collapse of the Bretton Woods system in 1973, however, the SDR was redefined as a basket of currencies,today consisting of the euro, Japanese yen, pound sterling, and U.S. dollar. The U.S. dollar-value of the SDR is posted daily on the IMF's website. It is calculated as the sum of specific amounts of the four currencies valued in U.S. dollars, on the basis of exchange rates quoted at noon each day in the London market.

The basket composition is reviewed every five years to ensure that it reflects the relative importance of currencies in the world's trading and financial systems. In the most recent review that took place in November 2005, the weights of the currencies in the SDR basket were revised based on the value of the exports of goods and services and the amount of reserves denominated in the respective currencies which were held by other members of the IMF. These changes became effective on January 1, 2006. The next review by the Executive Board will take place in late 2010.

The SDR interest rate
The SDR interest rate provides the basis for calculating the interest charged to members on regular (non-concessional) IMF loans, the interest paid and charged to members on their SDR holdings, and the interest paid to members on a portion of their quota subscriptions. The SDR interest rate is determined weekly and is based on a weighted average of representative interest rates on short-term debt in the money markets of the SDR basket currencies.

SDR allocations
Under its Articles of Agreement, the IMF may allocate SDRs to members in proportion to their IMF quotas. Such an allocation provides each member with a costless asset on which interest is neither earned nor paid. However, if a member's SDR holdings rise above its allocation, it earns interest on the excess; conversely, if it holds fewer SDRs than allocated, it pays interest on the shortfall. The Articles of Agreement also allow for cancellations of SDRs, but this provision has never been used. The IMF cannot allocate SDRs to itself.

There are two kinds of allocations:

General allocations of SDRs have to be based on a long-term global need to supplement existing reserve assets. General allocations are considered every five years, although decisions to allocate SDRs have been made only twice. The first allocation was for a total amount of SDR 9.3 billion, distributed in 1970-72. The second allocation was distributed in 1979-81 and brought the cumulative total of SDR allocations to SDR 21.4 billion.

A proposal for a special one-time allocation of SDRs was approved by the IMF's Board of Governors in September 1997 through the proposed Fourth Amendment of the Articles of Agreement. This allocation would double cumulative SDR allocations to SDR 42.8 billion. Its intent is to enable all members of the IMF to participate in the SDR system on an equitable basis and correct for the fact that countries that joined the Fund subsequent to 1981—more than one fifth of the current IMF membership—have never received an SDR allocation. The Fourth Amendment will become effective when three fifths of the IMF membership (111 members) with 85 percent of the total voting power accept it. As of end-August, 2006, 131 members with 77.3 percent of total voting power had accepted the proposed amendment. Approval by the United States, with 17.1 percent of total votes, would put the amendment into effect.

so, in order for new countries affixing their currency to the sdr we are a go as soon as the usd puts the amendment into effect. IF THEY HAVENT ALREADY!

this calls for a DOUBLE!!
woOt woOt!!!!!!!!!!!!!!!!

Immigrant open three centers for Expatriates

(Voice of Iraq) - 10-17-2006 | This issue was sent to a friend

Baghdad / long
The Ministry of Displacement and Migration that the coming days will witness the opening of three centers for Iraqis living abroad in coordination with the Ministry of Foreign Affairs. A source in the ministry that the centers will be set in motion is part of the ministry's plan to know the conditions of Iraqi expatriates in some countries of the world and follow the voluntary return to Iraq with the facilities required to provide them to The Ministry of Foreign Affairs is fully prepared to support such centers in three states. The source added that the Ministry of Displacement and Migration seeking to obtain scholarships for the children of immigrants in a number of countries around the world where an initial agreement with the Ministry of Foreign Affairs to address the Iraqi embassies abroad, in connection with these grants to be obtained. He stressed his ministry's keenness on overcoming the difficulties faced by expatriates abroad.

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