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

(MENAFN) - According to an Iraqi report, prices of goods and services in the country which are rising rapidly are making the living situation of Iraqi citizens very difficult, Dar Al-Hayat reported.

The report showed that transport wages, which escalated because of the rise in prices of oil derivatives, have led to a situation where citizens can no longer deal with their current realities due to their disproportionate daily income with the new prices.

MENAFN - Middle East North Africa . Financial Network News: Iraqi citizens negatively affected by the rise of fuel prices

I was cleaning out my document files and ran across one about the Coalition Provisional Authority's Historical Accomplishments, I believe dated June 30 2004. What I found puzzling towards the end was about the Ministry of Finance....

Accomplishments

1- Managing the 30+ trillion Iraqi Dinar 2004 budget

2- In early May the Ministry of Finance, working with the Ministry of Planning & Development Coordination, released the 2005 budget guidance thus beginning the process of formulating the 2005 budget

3-Has begun the integration of a new Financial Management Information System; a computerize system to track the execution of the budget in accordance with international standards.

4-Developed and implemented a new civil service salary scale

5-Designed and implemented a new pension system for civil service retirees.

6-Helped draft and enact a new Financial Management Law, which provides the foundation for transparent, effective fiscal policy and management of oil revenues.

7-Established a new and stable Iraqi currency; there are approximately new 5 trillion Iraqi Dinar in circulation.

*********************

Isn't that a STRONG budget? In Resolution 1637 it refers to Resolution 1546 paragraph 24:

Resolution 1637:
Decides to extend until 31 December 2006 the arrangements established
in paragraph 20 of resolution 1483 (2003) for the depositing into the Development
Fund for Iraq of proceeds from export sales of petroleum, petroleum products, and
natural gas and the arrangements referred to in paragraph 12 of resolution 1483
(2003) and paragraph 24 of resolution 1546 (2004) for the monitoring of the
Development Fund for Iraq by the International Advisory and Monitoring Board;

Resolution 1546:
24. Notes that, upon dissolution of the Coalition Provisional Authority, the
funds in the Development Fund for Iraq shall be disbursed solely at the direction of
the Government of Iraq, and decides that the Development Fund for Iraq shall be
utilized in a transparent and equitable manner and through the Iraqi budget
including to satisfy outstanding obligations against the Development Fund for Iraq,
that the arrangements for the depositing of proceeds from export sales of petroleum,
petroleum products, and natural gas established in paragraph 20 of resolution 1483
(2003) shall continue to apply, that the International Advisory and Monitoring Board
shall continue its activities in monitoring the Development Fund for Iraq and shall
include as an additional full voting member a duly qualified individual designated
by the Government of Iraq and that appropriate arrange ments shall be made for the
continuation of deposits of the the proceeds referred to in paragraph 21 of resolution
1483 (2003);
25. Decides further that the provisions in the above paragraph for the deposit
of proceeds into the DFI and for the role of the IA MB shall be reviewed at the
request of the Transitional Government of Iraq or twelve months from the date of
this resolution, and shall expire upon the completion of the political process set out
in paragraph four above;

Recently the CPA was dissolved according to their website (it was active a few weeks ago). Iraqcoalition.org: Homepage of The New Iraq

Question? If there is money left from the budgets...can it be used to back the r/v? I mean 30 trillion is alot of moolah! Any thoughts?

Cheers!
DayDream

I asked a friend to check with the Iraqi maintenance on base (north of Baghdad) if they've heard anything regarding the 10,000 IQD.
He was told they have heard rumors concerning it but have not received it yet and don't know of anyone who has. Keep in mind that this is only local information as most Iraqi workers don't travel far out of their areas.

We Americans are often accused of having very little understanding of the
religion of Islam and of the politics that flow from that religion. A good portion of that criticism is probably rightly directed.

But turnabout is fair play. The Muslems have very little understanding of
American politics at the current moment. It is often said, and accrurately so,
that Americans don't really get serious about politics in an election year until after the World Series. Well, here we are in an election year, and the World
Series is over. If Iraq dillydallies and r/v's on November 9th, when it could just as easily have r/v'd on October 31st (a mere nine days earlier), it may have only itself to blame when it finds itself staring down the barrel of Speaker Nancy Pelosi and Charles Rangel leading the charge to squeeze off funding for the war in Iraq just as fast as they possibly can.

On the other hand, with a good segment of American voters starved for good news out of Iraq, it is just possible that an r/v on October 31st, when accompanied by the favorable publicity attendant to a strong dinar such as
huge, stabilizing oil contracts (and the massive number of new jobs that those contracts will generate), and blessings from the IMF and the World Bank, could sway the course of our elections.

Iraq's leaders ignore this possibility at their peril.

Originally Posted by zwhatimsaying

can someone give me a refresher on when the artical 8 is suposted to be signed? I thought it was the 30th but a friend said 31st. I would like to check out the artical, but cant find it. I am in need of someones superior intelect. Thanks in advance.

Your friend that told you it is supposed to be signed on the 31st of Oct,2006, was correct. See Below.

(1)4. The International Advisory and Monitoring Board has a meeting scheduled Oct 31 , 2006. When they meet the Iraqi Govt can Request control of the oil proceeds from the IAMB and Resend Resolution 1637 and sign article VIII and trade thier curency internationally.

Hi Rolls Royce,
Welcome back, you have been missed! Do you know if Indira's family have received their IQD10,000 yet?

Originally Posted by fsndirector

Your friend that told you it is supposed to be signed on the 31st of Oct,2006, was correct. See Below.

(1)4. The International Advisory and Monitoring Board has a meeting scheduled Oct 31 , 2006. When they meet the Iraqi Govt can Request control of the oil proceeds from the IAMB and Resend Resolution 1637 and sign article VIII and trade thier curency internationally.

The real question is will they request????

Originally Posted by fsndirector

Your friend that told you it is supposed to be signed on the 31st of Oct,2006, was correct. See Below.

(1)4. The International Advisory and Monitoring Board has a meeting scheduled Oct 31 , 2006. When they meet the Iraqi Govt can Request control of the oil proceeds from the IAMB and Resend Resolution 1637 and sign article VIII and trade thier curency internationally.

fsndirector,
Thanks sounds good. Will be so glad when 31st gets here. Hope everything
goes off like we think it has been figured out. Also, 31st is my b-day.
LIT

Originally Posted by SimplyD

The real question is will they request????

What choice do they really have ?

What district and are you running?

If you are, I carry 11 Votes, because I have that many adults that vote each time and they follow my lead! Get the Iraqi Gov behind you and we can own the Ruskis' too!

Originally Posted by Ranger III

We Americans are often accused of having very little understanding of the
religion of Islam and of the politics that flow from that religion. A good portion of that criticism is probably rightly directed.

But turnabout is fair play. The Muslems have very little understanding of
American politics at the current moment. It is often said, and accrurately so,
that Americans don't really get serious about politics in an election year until after the World Series. Well, here we are in an election year, and the World
Series is over. If Iraq dillydallies and r/v's on November 9th, when it could just as easily have r/v'd on October 31st (a mere nine days earlier), it may have only itself to blame when it finds itself staring down the barrel of Speaker Nancy Pelosi and Charles Rangel leading the charge to squeeze off funding for the war in Iraq just as fast as they possibly can.

On the other hand, with a good segment of American voters starved for good news out of Iraq, it is just possible that an r/v on October 31st, when accompanied by the favorable publicity attendant to a strong dinar such as
huge, stabilizing oil contracts (and the massive number of new jobs that those contracts will generate), and blessings from the IMF and the World Bank, could sway the course of our elections.

Iraq's leaders ignore this possibility at their peril.