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

Originally Posted by lonelyintexas

Clueless,
I think you hit onto what they are trying to do with auctions. Very tight control within 1460-1480 for the past three years.
LIT

Thanks, but I did not really figure it out. It is stated pretty clearly in one of the way too numerous official documents. Sorry that I can't point it out but even my very bad memory is pretty confident that it is out there.

If the CBI decided to change the exchange rate, it would be very easy for them. They could offer USD for sale for a lower number of IQD. Demand for USD is not likely to go away and so it gives them a very functional way to control the rate.

Baghdad Time: 07:17am, 11/01/2006 ~ market is open | $1 USD = 1469.63 IQD ^

Iraq Stock Exchange Data featuring Quotes, Iraqi Market News and ISX Analysis

Iraq: 153 Licenses granted to build up new industrial projects
Posted on Tuesday, October 31 @ 03:45:46 PST
Topic: Iraq
The General Directorate of Industrial Development in the Ministry of Industry and Minerals granted 153 licenses to build up various industrial projects like: (food, textile, wood, paper, chemical, plastic, metal, construction and manufacturing industries) during the month of September.

An official source in the ministry said in a press statement: The total investment for these projects amounted to 19 billion and 432 million dinars, pointing out that the food industry ranked first in the number of permits granted to it by 39 licenses at an investment of 4 billion and 825 million dinars.
The source added that the Directorate was able to complete the establishment applications of (22) industrial projects and the issuance of approval certificates to transfer the ownership of three industrial projects to companies, pointing out that the Directorate made a field survey on 28 industrial projects to follow-up the necessary requirements for building up and operating them to serve the public interest.

Source: IMNSR

LawkSalih.Com - 153 Licenses granted to build up new industrial projects

Iraq: A sudden rise of the dollar exchange rate in Iraq
Posted on Friday, October 27 @ 17:54:15 PDT
Topic: Iraq
The dollar exchange rate varied between the Iraqi Central Bank and local markets, especially after the official auction to sell currencies stopped convening for ten days because of Eid al-Fitr.

The observers of the currency market confirmed that any occasion interposed by public holidays, specially those that continue for several days, is expected to raise the value of the American dollar against the Iraqi dinar but the difference is limited and does not exceed in the most serious cases 1500 dinars to the dollar, because such increases in the view of some speculators will be temporary, and they fear from the Iraqi Central Bank being a safety valve of the Iraqi dinar and market. If the Bank thought that the market rose, as the case happened a year and a half ago, it would suspend its vacation to begin offering large amounts of hard currency on the market directly and at prices lower than the circulation price; that is why most speculators are afraid to keep large quantities within their bags due to the risk of loss. But, dealing in the market is done on the basis of supply and demand; this means that small speculators, dealing directly with citizens, would achieve very high profits for this reason. And about their expectations of market prices, the observer demonstrated that the dollar exchange rate in the central auction, held in the Iraqi Central Bank, finally began to retreat before the Iraqi dinar, as the Bank started floating huge amounts of dollars because of the government's need for local cash, especially as the volume of government's consumption increased recently and this requires securing these expenses through the auction. The supply has increased lately from $ 35 million to $ 60 million per day.
The Bank started its daily auction with 1470 dinars to the dollar after being 1477. As for the markets, the dealers with citizen were not affected by the sudden decline but they would rush to raise their prices at the same moment with the increase; thus, it is expected for the demand to increase during these ten days, which would not be attended by the Iraqi Central Bank, but not much. About the last formal cession of the Bank, the auction manager there clarified that the sale price at which the auction came to was 1470 dinars to the dollar, accepted by the Bank, according to the buyers' desire and sold $ 43.8 million at the same prices. The quantity sold in cash to the Banks and its clients was $ 18.690 million at the price of 1470 with the addition of 11 points as prices contrast and profitability ratios, while the quantity sold for remittances to out of Iraq was $ 25 million, at 1470 dinars. This means that the amount of remittances surpassed the sale quantities of banks and this is due to the high demand for transfer, especially after the increased need to acquit the companies collaborating with the outside and the start of the reconstruction phase in Iraq.

Source: Asharq Al-Awsat

LawkSalih.Com - A sudden rise of the dollar exchange rate in Iraq

Iraq: Chirac to meet Iraqi president Talabani on November 2
Posted on Tuesday, October 31 @ 03:47:34 PST
Topic: Iraq
Talabani and Chirac are to meet Thursday to discuss the situation in Iraq, the French president's office said Monday.

An Iraqi delegation made up of President Jalal Talabani and four ministers is to make a four-day visit to France this week, during which Talabani will hold talks with President Jacques Chirac.
It will be the second visit of an Iraqi president to France since the 2003 war lead by the United States that Chirac firmly opposed. Talabani's predecessor, Ghazi al-Yawar, came to Paris in January last year.

The Iraqis are due to arrive in the French capital late Wednesday and stay until Saturday, according to French officials.

During the visit, they are also to meet Foreign Minister Philippe Douste-Blazy and other officials.

The designated next UN secretary general, South Korean Foreign Minister Ban Ki-Moon, is also expected in Paris during that time, from Thursday to Saturday, but there was no announced plans for him to meet Talabani.

The Iraqi visit comes as the United States is under increasing pressure to withdraw its military forces from Iraq, which has become home to widespread and intense violence.

The French foreign ministry said Paris was not calling for an "immediate" withdrawal of the US troops, but rather a "coordinated" plan for them to leave so the Iraqi people can enjoy full sovereignty.

France has taken an active role in international efforts to help Iraq, offering to train police outside the country and rubbing out four billion euros (five billion dollars) in Iraqi debt.

It fears, however, that the rampant sectarian violence in Iraq could lead to a fragmentation of the country and "consequences for regional stability."

Source: Agency France Prese

LawkSalih.Com - Chirac to meet Iraqi president Talabani on November 2

Iraq: BIBF to train Iraq Central Bank officials
Tuesday, October 31 @ 03:44:45
Sixteen high-ranking officials from Iraq Central Bank (CBI) are to undergo advanced training at the Bahrain Institute of Banking and Finance (BIBF).The banking supervision programme is being organised by BIBF in co-operation with the International Monetary Fund (IMF) and Federal Reserve Bank of New York (Fed NY).

LawkSalih.Com - BIBF to train Iraq Central Bank officials

The Iraqi government demands to drop the debt and give 100
(Voice of Iraq) - 01-11-2006
This issue was sent to a friend

The Iraqi government demands to drop the debt and give 100 billion dollars over five years

Sabah declares his willingness to visit Baghdad at the meeting of the International Decade «» and confirms Kuwait's support them

KUWAIT : Ahmed Isa
Asked Iraqi Deputy Prime Minister Barham Salih of the international community to drop the debt of Iraq and its support politically and economically. While stressing the determination of the Iraqi government to implement economic and political reforms. For his part, A spokesman for the Iraqi government to Skinner that his country needs $ 100 billion over the next five years to rebuild Iraq and the strengthening of its economy. The statements made by Iraqi officials in the preparatory work of the group told the International Decade «» with Iraq, which ended yesterday evening in the Kuwaiti capital, amid expectations that the document find acceptance internationally to facilitate the reintegration of Iraq with the international community.
The meetings were attended by representatives yesterday extended throughout the 14 States and 7 international organizations discussed the current situation in Iraq and the form of the commitments required of them and pledges Iraq will be to work towards the implementation of the International Decade «». It is noted that this meeting comes within a series of acts in preparation for an extended conference to launch the International Decade is expected to include 40 state, not scheduled yet. The Iraqi Deputy Prime Minister, in his speech at the opening session that «cancel Iraq's debts accumulated from the days of deposed President Saddam Hussein will help Iraq in the implementation of many of the commitments contained in the document, Iraq is in dire need of financial support to address the shortage of Iraqi budget and to enable the Iraqi government to improve the situation ».

He described the document «International Covenant with Iraq as a road map towards achieving economic self-sufficiency. It is a mutual commitment between the leaders of Iraq and the Iraqi people, in addition to being a mutual commitment between Iraq and among partners in the document ». Saleh emphasized his country's commitment to the establishment of institutions «democratic federal, The achievement of security and stability, and to achieve economic growth and prosperity for the Iraqi people who have suffered for long decades ». Turning Iraqi Deputy Prime Minister indicated that discussions within the corridors of the Iraqi government on the International officials led to a series of proposals on the reform of the Iraqi state. emphasizing the seriousness of the Iraqi government led by Nuri al-Maliki to extricate Iraq from its current through the implementation schedule includes a series of executive steps.

He stated that the benefit of these steps to form a committee to discuss amending the constitution and the law of political parties and a number of economic laws, including the law relating to oil and gas, hope that helps the international community in making Iraq closer to achieve its development objectives, including reducing the number of families living under the poverty line by half and lower unemployment rates.

He mentioned that it had been discussed draft document «International Decade with Iraq» meetings in Kuwait yesterday. The goals and aspirations and national vision for Iraq for the years 2006 / 2011, which has been prepared by the Iraqi government the support and sponsorship of the international community. It is expected that the document identifies the institutional mechanism for implementation and determine the final form of major investment needs and the allocation of contributions by a high degree of flexibility.

And on the sidelines of the meeting, a spokesman for the Iraqi government to Skinner held a press conference during which he announced the need for Iraq to the $ 100 billion spent on the rehabilitation of the infrastructure over the next four to five years, however, he said that this figure is an estimate informally.

Turning Skinner to the Iraqi government's efforts to fight financial corruption through written serious accounting including ministers and former officials because of the transgressions of public money. He pointed out that «each sentenced to penalties required legal, This shows the determination of the government to activate the integrity and regulatory actions and promoting transparency in Iraq ».

For his part, Deputy Prime Minister and Foreign Minister Dr Mohammad Al-Sabah his country's determination to help Iraq recover from its current situation and helped to emerge from its crisis through financial pledges already made and would contribute to the infrastructure support health and education as well as «$ 500 million allocated wait brothers Batra s to determine the disbursement ».

Sheikh Sabah stressed that «the issue of debt forgiveness for Iraq, the Kuwaiti subject to the constitutional channels and must go through the National Assembly. They will not solve the situation in Iraq and the funds are not currently available to the Iraqi government ».

The Sheikh Mohammad al-Sabah that Iraq today provides a «contains political, economic and security binding him to the world. and Iraq is not a poor country need graces, but everything we wanted to help bridge the advancement of the crisis ».

According to Sheikh Muhammad Sabah said that Kuwait «host of the meetings of the preparatory group for the International Decade for the sake of Iraq stems from its desire to continue to provide assistance and support to the government and the brotherly people of Iraq who are suffering difficult security conditions and exceptionally negative repercussions not only on Iraq but on the whole logic e and the world ».

And he intends to go to Iraq to attend the next conference to be held there. Sheikh Mohammad Sabah willingness of saying : «already reserved a hotel in Baghdad to attend the previous conference but was canceled was changed place, But it is still willing to go there whenever the situation so requires ».

For his part, The Special Representative of the Secretary-General of the United Nations in Iraq, Ambassador Ashraf Qazi what is going on in Iraq that the agreements and understandings reached between the leaderships and Iraqi political forces over the past months have not been able to put an end to the controversy and violence and sectarian bloodshed suffered by the Iraqi people.

The judge held the Iraqi government responsible face the serious challenges facing Iraq today, but he went on to say : «magnitude of these challenges requires the support of the international community, especially the partners of Iraq».

Middle East

wake me when its over !

You'll hear Susie!

I'm still thinking about the 10K gift that hasn't been released. I can't come up with a reason (if I was a politician ) why I would be delaying it & why I would'nt want it R/V'd prior so I could give my constituants a HAND UP that would change their lifes.
Not to mention the hope of possibly knocking the wind out of the violence that is in every citizens daily struggle.+
Just to be able to help releive the strain of every day bills, power to run the stove & A/C, money to buy food, gas for the car, money to fix the car!, clothes & maybe toys for the childern, Medicine for the eldery, a roof over their heads.
The Iraqi people have gone through SO MUCH they deserve the best from thier politicians & leaders.
This is their chance, along with the outside world wanting a piece of them too, the pressure on them is IMMENSE.
May GOD grant them the wisdom he gave Solaman to lead the people. Sorry I just had to vent & yes Neno I just relived I should have posted this elsewhere, just seems this is where the ACTION is right now...Thanks Gang your a
great bunch