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

Someone just posted in talkgold. That they Have heard from a contact in Jordan that it will open at .05. Then they will wait and see how much comes in! This could be a very real possiblity! So hang on folks and don't cash them all in!!!!!

Originally Posted by TheBrain

I was the other person who ordered from Citizens bank but have not yet received a call.

I tried calling all of the phone numbers for the CBI and they are all either disconnected or non-working.
I also called another bank in Iraq and explained that I am calling from the US and was trying to find the auction rate from the CBI. I could not understand the gentlemen that well but he was saying that the auction stopped.Could have meant auction was over for today.

Contact Us Site Map, Central Bank Of Iraq. Baghdad - Al-Rasheed Street. Telephone :- Country Code : +964- 1. 8165170. 8165171. 8165172. 8165173. 8165174

Did he mention what the most current rate was?

Originally Posted by $onedaysoon$

please work your magic on the one I could not copy
Inflation serious ill effects signaling Iraq economy
18/10/06

third one down under buisness and economy
Translated version of http://www.alzawraa.net/home/index.php?option=com_content&task=view&id=4695&Ite mid=73

Inflation. Serious ill effects signaling Iraqi economy


Source : Sabah
18 / 10 / 06
Khalid Qattan
Price instability and the deterioration of the reality of the productive and service sectors, some causes
.Inflation is the enemy of social welfare, he reduces all spaces economy, economists and the inflation that the constant increase in prices expressed imbalance between the two sides of aggregate supply of goods and expenditure and total demand of spending. A case of the continuous rise in prices followed the decline of the monetary unit. It is this structural or economic reasons.
The Iraqi economy is currently experiencing a growing phenomenon of inflation that plagued the economy in general. This requires a monetary policies and economic strategy in order to save the economy from this growing phenomenon that has become alarming.
The high inflation indices result of many factors, the most important of which is the high prices of oil derivatives, and the prices of foodstuffs, rent real estate. The rapid deterioration in the productive sectors, agriculture, industrial and other sectors is one of the main causes for the phenomenon of inflation.
According to the Minister of Planning and Development Cooperation, Dr.. The Ghalib Baban this regard :
.In developed countries - record inflation rises fractures figures, such high inflation of 2 per cent or 1 per cent however, affect the country's economy, and disrupted production sectors. How then if it exceeded one hundred per cent, for instance? Here it must be breakdown of the economic situation, inflation and output rather than one indicator, but the overall morbidity in the economy.
Q : What impact of monetary policy on inflation?
Monetary policy has little impact on inflation not addressed fully, because the disease and the main causes for the phenomenon of inflation are in the productive sectors, If the productive sectors remained unchanged in Iraq will not be dealing with inflation, If these sectors evolved cutting inflation and is dealt with.
Q : How can you be by your treatments?
INFLATION have reached serious stages, including indications ill Iraqi economy in general. The Central Bank of Iraq when reduced or raised the price of credit on funds deposited Such a measure would not address the inflation. because monetary policy, as I said before, will not address the problem of inflation, which devastate the Iraqi economy.
The Iraqi individual productivity and low back either in the agricultural or industrial sector, This is related to unemployment, The official Iraqi people unemployed, as well as incomplete Group and farms, The economic process suffers from an imbalance in the structure, and there is no cure for inflation only treatment economy in a comprehensive manner, This requires continuous work and research and to the many seminars and meetings to address this phenomenon, which has paralyzed the Iraqi economy are growing.
The index of consumer price
And on how to measure inflation statistically speaking, Dr. Mahdi Ilaq head of the Central Agency for Statistics and Information Technology in the Ministry of Planning : inflation measured statistically notation percentage of commodity prices in the market before, The survey called the family budget survey, This depends on the collection of data for a period of (12) months, then I daresay inflation by comparing the price level of overall poverty rate to the rates of the poverty line.
The Ministry of Planning agreement with the International Monetary Bank to begin the survey, As of 1 / 11 the next and we will make data concerning the standard of living. In developed countries does not exceed expenditure on food for citizens accounted for 20% of Madjolath, while Iraqi citizen exceed spending on the material 40%.
Q : What is the mechanism of action in the calculation of the consumer price index?
To work in the calculation of the consumer price index is a selection of markets from all the provinces, combining commodity prices, which is characterized by the change in prices, such as fruits and vegetables each week, materials which have more stable prices in the calculation of prices of each month, and more than 40% of the family income spent on the Iraqi fuel prices and transport fares.
The more local production decreased the overall level of prices. and if the productivity increase that will increase the disguised unemployment.
1993..The formula used in calculating the consumer price No. formula is "not Spears" weighted weighing 1993. We have begun calling attention to the consumer price index, since many agencies rely on work and even the Central Bank depends on the basic indicators issued by the Central Agency for Statistics on the number of the consumer price index.
Housing Sector Support
He reviewed the appearance of Dr. Mohammad Saleh, general manager-Trial-economic research at the Central Bank of Iraq at the beginning of modern high rates achieved in inflation, He said :
That inflation is a phenomenon and the continued steady rise in prices. This communication is not only through monetary growth. Although monetary policy was to assume the heavy burden of dealing with inflation. 2003-2006 Although inflation since 2003 - 2006 increased by 2%. Since last February inflation began to rise and reached 50% in July last hit 70% and a high proportion constituting a major threat to the Iraqi economy. even up now to 76%.
Q : What are the elements that constitute the axis of inflation in the Iraqi economy?
There are three elements are the focus of inflation in the Iraqi economy is the high rent real estate, high food prices and higher prices for oil derivatives.
The Iraqi economy a yield economy, where Oil is 70% of the components of GDP in Iraq. The agricultural sector is now 16%, while they were in the royal era, a time of this sector 35% of the Iraqi economy. while the industrial sector constitutes 1.5% of the economy. There are facts indicate that the Iraqi government-subsidized prices and materials constitute 85% This activity increased spending for the country is consumer spending. The problem of inflation resulting from the lifting of supply and not demand, The question that arises is, what led to this rising inflation in the Iraqi economy, To address this inflation that the State supports the poor, as well as to support the housing sector, since there are four thousand units in the industrial construction sector unused, The operation of these units will be absorbed large numbers of unemployment, and inflation resulting from the determination of inertia, which is continuing, The State is the status of wealth is rich but the Iraqi economy suffered a weak and fragile, and there is a call to raise the value of the Iraqi dinar, This is not linked to the productive sector, but production is profit.
Support materials ration card
And on the interest earned for the Iraqi people from raising the prices of oil derivatives, Fakhri said Samir Nima Alowaeli-professor at the University of Wasit, a member of the Iraqi Center for Economic Reform :
There are specialized committees to handle the issue, This certainly depend on the availability of oil derivatives with a focus on gasoline. The prices of oil derivatives in the reform objective is to reduce the burden on the State, Therefore, the price differences had invested in the Ministry of Labor and Social Affairs for distribution to eligible citizens. This project is still in force.
* What are the reasons for the high prices of oil derivatives?
Fuel prices - especially for gasoline will rise up to this article prices in neighboring countries, The reason for this increase in order to reduce the smuggling of petrol to these countries. However, the introduction of some oil trucks to Iraq and then evading to the neighboring countries. The important point in this regard is when the prices of oil derivatives, close to the prices in neighboring countries. It will allow the private sector to import these derivatives, The state will raise their hands on these products, with a focus on materials ration card and delivery to the citizen in a timely manner, because ration constitute the minimum and provide subsistence for low-income earners, however are of high benefit to them.
Hence, the State will travel in support of the ration card, which constitute 63% of the weighted basket of prices.
Q : Why do you say that in the case of inflation, which we now?
- Inflation is the continuing increase in prices and expressed imbalance between the two sides of aggregate supply of goods and expenditure and total demand of spending, The increase in total demand was the result of a combination of causes, including : increased wages and salaries increased horizontal and this led to an increase in aggregate demand, The increased spending for the social welfare system, The most important factor is the increase in oil prices, which in turn reflected the increase in transport fares, and indirectly on the prices of the rest of the other articles. .The total supply of goods and services spending was a result of many reasons, since the aggregate supply is a local production, and local production is a lie is very low due to the security situation in the country.
.Imports also decreased rates significantly for the unstable security situation and problems in border outlets.
* How effective fiscal and monetary policies in the Iraqi economy?
Can be seen from the balcony of the monetary policy and practice if the United interdependent pillars depend in part on the economic relations relating to the role of money in the economy and in the other side of the steps needed to carry out the practice of the use of the tools available for access purposes and then monitored the achievement of the Millennium set eventually..The adoption of the philosophy of monetary policies, mainly on the idea of taking measures that would enable the monetary authority to control monetary expansion to cope with the need of dealers in the economy and be fully consensus on the extent possible, because economists do not differ if not completely abolished, the consensus economic relations have b radiation is so much concerned with the logic of monetary policy practitioners ODP demand for money the demand for money function, which can be seen on the compatibility between the monetary supply of hand and the cash required on the other hand..Access to stable estimates of the demand and supply functions may be elusive in developing countries, It is difficult to obtain the necessary information, or may be repeated shocks to the economy makes the time series is far from a consensus necessary for the monetary authority of another way to calibrate money supply to the needs of the application.
.The method of selecting the purpose mediator (the nominal interest rate) the basic pillar of any monetary policy and the importance of that choice of dealing in a world of uncertainty and respect based this choice to the source of shocks in the economy where it can be caused by the commodities market, or cash market if the result of the commodities market (the economy Iraqi) monetary authorities will try to prove that the interest rate at a certain level the sense that they constantly adjust the money supply to equal demand, thus causing the currency market remained relatively stable, it will change output to a certain extent, the result of a change of the money, If the monetary authorities took one of the variables money College, the sense that it proves money supply curve so that the balance of the money market more flexible than the previous one.
Required building a solid industrial base
The Abdal_hussen Mohieddin-Shamari, head of the gathering of industrial land on the Iraqi-mechanism as it deems appropriate to deal with inflation :
I find that this is through activating the role of the private sector industrial and agricultural, housing and tourism, this will be achieved and we have a surplus value flows into the state budget, the state does not depend on oil revenues alone, This will be the elimination of unemployment and operation Iyad working too many, This is what leads to the elimination of inflation and building a solid industrial base for the private sector to reduce imports and the flight of hard currency out of the country because of the imported goods-good, especially if we know that some people deliberately import goods affect the poor Iraqi market.
Industry is in Iraq were sabotaged, There are an economic infrastructure in Iraq that could be inattentiveness economy deteriorating, The reform of the economy in Iraq and the elimination of inflation needs to be extended conference to discuss matters that concern the overall economy to provide advice and recommendations.
.And on the interest earned a citizen of the rise in the prices of oil derivatives, Abbas said Luay-******* economy jurisdiction taxes Oil / Energy - that the increase in the prices of oil derivatives approved for the provision of high finance of the state and the provision of financial revenues to meet the deficit that already exists in the budget, It obtaining funds proceeds funds available in the market and there is no way to be towed, because the tax is an ineffective and citizens started evading the payment of taxes due from it, what led to the withdrawal by increasing the prices of oil derivatives, and disbursed in accordance with the mechanism required by the state to spend on the service and other projects. The state started regardless substantial funds within this support, It is an important step to activate the private sector with regard to the import of oil derivatives, The step increase in the prices of oil derivatives not clear impact in the short term. but that will have an impact on the long term, the fact that the State is controlled areas of the disbursement of funds obtained them. He said Dr. Abdullah Albandar director of the Economic and Finance Ministry and member of the Iraqi Center for Economic Reform : inflation which hit the Iraqi economy, the issue is very important, It is essential to address and reduce the escalating rate, He explained that there are many factors that led to this phenomenon, the most important factors serious demand for commodities and other materials..He pointed out that the most important point in dealing with inflation is to achieve price stability, as well as the need to address the growth of GDP, which would result in better outcomes from tackling unemployment, He added : we must accurately diagnose the nature and causes of inflation. Is it internal or external?.
The Dr. Tha'ir Alvili-adviser in the Ministry of Construction and Housing - that there are important points that must be followed in order to reform the Iraqi economy, and alleviate the burdens on citizens, such rescheduling rise in the prices of oil derivatives, The development of the work of social protection network to include large segments of the society, which is in dire need of support and assistance to them. The Alvili to develop the services offered to citizens like electricity and water, as well as ending the monopoly of the state sector of the oil industry, , and the need to support the private sector in this area, because this sector does not have the mechanism for export, import and owned stores, We must reinvest savings export oil derivatives, to support and empower the private sector in the export and import of petroleum and its derivatives.

Hardwood

I really don't know. I just went there to see if I could find any info and report. I don't know if it is true or false. Copper15 is a decent guy.

Originally Posted by Mike5200

I really really have a hard time believing that one- is there a smokescreen going up???

Originally Posted by goldraker

Someone just posted in talkgold. That they Have heard from a contact in Jordan that it will open at .05. Then they will wait and see how much comes in! This could be a very real possiblity! So hang on folks and don't cash them all in!!!!!

From Talkshiite?! LOL. Now that forum is the biggest joke!

Originally Posted by Dr. Mike

I really don't know. I just went there to see if I could find any info and report. I don't know if it is true or false. Copper15 is a decent guy.

I meant about Warka not knowing whats going on with CBI

Adster, You are soooo right one that one.
And heavy on the TALKCRAP

Listen guys, I have been thinking that there is a very real chance that
there may be a shake out coming our way real soon. Be prepared for some bad news or very misleading news, and really think about anything you hear before you make any quick decisions. Now I am not saying that there will be a shake out, but there very well might be one, or more, so keep your eyes peeled for anything that looks like a shake out, and stay strong. I doubt they wanna make this THAT easy for us w/o first trying to mislead us into selling out cheap. Just a heads up.

BTW: of course this pretty much goes w/o saying, but I would never wanna hear "someone shoulda told me this might happen" from anyone here, so ya know. :)

Originally Posted by Adster

From Talkshiite?! LOL. Now that forum is the biggest joke!

Adam, you still thinking along the lines that they might just post a new rate, with no announcement? . . .

And where is Susie?? . . .

Originally Posted by Treater

Listen guys, I have been thinking that there is a very real chance that
there may be a shake out coming our way real soon. Be prepared for some bad news or very misleading news, and really think about anything you hear before you make any quick decisions. Now I am not saying that there will be a shake out, but there very well might be one, or more, so keep your eyes peeled for anything that looks like a shake out, and stay strong. I doubt they wanna make this THAT easy for us w/o first trying to mislead us into selling out cheap. Just a heads up.

What, like the MoF trying to lop zeros in the summer..........