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

Originally Posted by texaslonghorns

I was thinking about the 3 months that they are giving the Iraqi's to use the ration card. I think this is a tool they are using to jump start the economy. You make everyone spend there 10,000 dinars in a 3 month span and the economy will explode. That is if it is revalued prior to being issued. If you give them 1,000 - 10,000 USD worth of buying power, that is going to solve alot of problems for everyone in that country. Not to mention create a huge amount of jobs.

I agree with you....especially at a revalued rate...most likely they would spend it over a period of time obtain life essentials....like food, clothes, vehicle etc.

Originally Posted by YogiBrood

Awww, the poor lads, cmon Adster... that lead from elsewhere is pulling limbs from shattered Shiítes or Sunnys ...

Quote on Bush: They ARE plenty Smart and Plenty Brave men....Unquote.

They may have some Dinars from local small change but their pay still rolls on...in DOLLARS!!! and no lesser mate...

Some jerk (from elsewhere) is showing disrespect to the brave men fighting down there in Iraq...




Let's not all get fooled by that...

As I said Des, most probably BS.

The benefits of Iraq joining the IMF and the World Bank November 03, 2006
> Economists concerned Iraqis and foreigners disagree on the subject above,
while some of them believe that Iraqi govenment has rushed to resort to the IMF
and the World Bank to reschedule its debts on the terms of implementing the
policy of economic reform. However, only (11.6) billion dollars of the foreign
debts have been quenched as a first stage, and this only makes (7.8%) of the
foreign debt. It is a small percentage in return for submitting to the
conditions of the economic reform policy, which include:
>
> 1- raising support for the prices of fuels and other services.
>
> 2- Canceling the ration card.
>
> 3- Privatization of the public sector and transfer most of its business to the
private sector.
>
> However, the application of these procedures in light of the current
circumstances of the country and this speed has serious negative repercussions
on the Iraqi society who is suffering already. It is unreasonable to convert a
centrally planned economy based on the absolute leadership of the public sector
for four decades into a liberal economy based on free market economy, overnight.
After the events of 9\4\2003, Iraq suffered from political and economic shocks
that are intolerable for a developing country like Iraq.
>
> According to the latest statistics of the Ministry of Planning and Development
Cooperation in Iraq, (60%) of the citizens are below the poverty line. So, if
the ration card is abolished and subsidies on fuel prices and services are
removed, how many will their percentage be? Moreover, the unemployment rate was
between (40% - 50%), when taking these measures, the increase would amount to
more than that; this means that poverty line will increase and thus increasing
rates of crime and corruption since Iraq is considered one of the young
population nations whose population pyramid has a broad base and unemployment
are concentrated in the younger ages, that (3) out of (4) Iraqis under the age
of 25 are unemployed. The concentration of unemployment in this group of age had
very dangerous political and social consequences since unemployment is
considered a fertile environment for the growth of crime, extremism and violence
which emerged strongly to the surface in Iraq, particularly after the events of
9\4\2003 and left serious negative effects on Iraq. There are many examples for
such dangerous consequences, like: (the revolution of bread in each of Egypt and
Tunisia, and the revolution against raising fuel prices in Yemen, etc.).
>
> Despite all this, we believe that Iraq can achieve benefits when joining the
IMF and the World Bank. There will be a genuine development, as the case now in
some Gulf countries, Emirates for example, through encouraging investments in
vital and important sectors, such as the agricultural, through many inducements
like the granting of loans and tax exemption etc... The remaining investments
are left free to supply and demand. Since Iraq has natural resources of cheap
prices, surely the costs of production will be much less than other countries;
therefore, it is possible to manufacture materials then export them. Thus, why
do we, now, import cement of bad types when we already have the fine raw
materials for manufacturing this material? ö Another benefit of the accession,
is that we will get cheap raw materials to help our industry, and we will also
import expertise and technology to create developed industry and agriculture.
>
> But what is happening in Iraq now is that some places are built and others are
demolished. Therefore, Iraq is at an important crossroads that requires from
everyone, especially economic policy-makers in the country, to review the
ideological basis and economic theories which they use to form the policies and
the applications should be compatible with the concepts of modernization and
reform promoted for, and this is one of the biggest economical challenges that
we face today.
>
> Thus, the deteriorating reality between the suffering of the society and with
the requirements of the economical policy of the State, raise a question: what
do we do to walk out of this crisis without a flaw negatively affecting the
economic process of the citizen and the state as well?(Source)AlSabah
>

Originally Posted by YogiBrood

Awww, the poor lads, cmon Adster... that lead from elsewhere is pulling limbs from shattered Shiítes or Sunnys ...

Quote on Bush: They ARE plenty Smart and Plenty Brave men....Unquote.

They may have some Dinars from local small change but their pay still rolls on...in DOLLARS!!! and no lesser mate...

Some jerk (from elsewhere) is showing disrespect to the brave men fighting down there in Iraq...



Let's not all get fooled by that...

I agree not to mention U.S. military anywhere in the world is on direct deposit. When my husband was in Iraq he would request a cash "allowance" that was available to him when he needed it from the U.S. disbursing office on base in Tikrit. Then he would email me or call home and say "Hey babe I got some money today" and I planned on that being deducted from his next pay. He was paid in U.S. dollars whether he got it there or I paid bills here. I sure don't think Wal-Mart wants military wives of deployed soldiers paying in dinars....just might not fly (at least today, now come Monday or Tuesday they may wish they were paid in dinars).

Originally Posted by mike brown

next time you see " the book " ask if how old it is, to get a gage on if it is a recent addition, or just something they have had forever

I liked the part that she mentioned it is on our list but I don't have a quote.

Not necessary to what book it is! Seeing those pictures says enough because there will be no reprint as stated earlier by an official source of the CBI.

To remind everybody or who hasn't seen it:

الاقتصادية : مصدر مسؤول في البنك المركزي: الهدف من المزاد اليومي الحفاظ على استقرار قيمة الدينار العراقيEconomic : official source at the Central Bank : the aim of the auction, the daily maintenance of the stability of the value of the Iraqi dinar


بغداد ـ باسل القيسي :Baghdad : al-Basil
يواصل البنك المركزي العراقي القيام ببيع الدولار الاميركي مقابل الدينار العراقي من خلال المزاد اليومي الذي يقام فيه، اذ يعد هذا المزاد اداة لتحقيق الاستقرار في قيمة الدينار العراقي عن طريق الدفاع عن سعر صرف مستقر لمدة طويلة مما ينعكس على المستوى العام للاسعار.The Iraqi Central Bank to sell the American dollar against the Iraqi dinar through a daily auction exhibit, since this auction is a tool for achieving stability in the value of the Iraqi dinar by defending the exchange rate stable for a long period, which reflected the general level of prices.
ذكر ذلك مصدر مسؤول في البنك المركزي العراقي رداً عن سؤال لمندوب”الصباح الجديد“ واضاف المصدر: انه لا توجد نية في الوقت الحالي لتغيير العملة العراقية ومن المتوقع انه يتم اصدار فئات جديدة الى التداول وحسب مقتضيات الاقتصاد العراقي لمواجهة نفقات الدولة في المرحلة المقبلة.

According to an official source at the Central Bank of Iraq in response to a question from the representative of the new "morning" The source added :
there is no intention at this time to change the Iraqi currency is expected that the issuance of new categories of transactions, and according to the requirements of the Iraqi economy to meet the expenses of the state in the next stage.

وعن الخطط المستقبلية لمعالجة الديون العراقية ذكر المصدر ان العراق وقع اتفاقيات مع دول نادي باريس لمعالجة ديونه وذلك بتخفيض 80% من الدين.Regarding future plans to address the debt Iraqi source said that Iraq signed agreements with the Paris Club countries to address its debts by reducing 80% of the debt.
اما فيما يخص استعادة العراق لموقعه المالي والاقتصادي بين دول العالم والمدة القانونية لذلك فقد اشار المصدر ان العراق بدأ باستعادة موقعه المالي والاقتصادي تدريجياً حيث ان هذا الامر مرهون بالاستقرار الداخلي للبلد وسيتعزز هذا الموقع بتفعيل قانون الاستثمار وتطور الوضع الامني.As for the restoration of Iraq's financial position and economic cooperation between the countries of the world, the legal duration of the source indicated that Iraq started to restore its economic and financial gradually since that depends on the internal stability of the country and this site will be enhanced activation of the investment law, and the evolution of the security situation.


اما فيما يخص الاشراف على النشاط المصرفي المحلي في العراق من قبل البنك المركزي ووسائل اصلاحه فقد اشار المصدر الى ان البنك المركزي يقوم بالاشراف على النشاط المصرفي المحلي وكما جاء في المادة (40) من قانون البنك المركزي المرقم 56 لسنة 2004 وكذلك من خلال قانون المصارف المرقم 94 لسنة 2004 حيث ان ه ذا البنك على صلة بانشطة المصارف باتجاه تعزيز دورها في تنفيذ السياسة النقدية لا سيما من خلال توجيه المدخرات نحو شتى اوجه الاستثمار وبما يحقق النمو الاقتصادي.As for the supervision of the domestic banking activity in Iraq by the Central Bank and reform of the source pointed out that the Central Bank is supervising the local banking activity and as stated in Article (40) of the Central Bank Act No. 56 of 2004 as well as through the Banking Act No. 94 of 2004 as e a bank related to the activities of banks towards the enhancement of their role in the implementation of monetary policy in particular through channeling the savings to the various aspects of investment, so as to achieve economic growth. من جهة اخرى ذكر المصدر ان البنك المركزي قام بمنح تراخيص مصرفية للعديد من المصارف العربية والاجنبية سواء كان الترخيص متضمناً فتح فرع له في العراق او تأسيس كيان مصرفي، كذلك تم فتح مكاتب تمثيل، وتعد هذه بداية التعاون والانفتاح نحو العالم باتجاه تنشيط حركة الاقتصاد في القطر.On the other hand source said that the Central Bank had granted banking licenses of many Arab and foreign banks, whether licensing NTSB open a branch in Iraq or the establishment of a banking entity, It was also the opening of representation offices. This is the beginning of cooperation and openness to the world towards the revitalization of the economy in the country.

Translated version of http://www.newsabah.com/paper.php?name=News&file=article&sid=22813

No reprint, no lop, we know we will be rich, just not when!

Originally Posted by CharmedPiper

I rubbed my magic lamp from Baghdad and look what it says...anybody gotta' magic carpet to get me to the bank!.

Abra CaDabra...& open Sez me... here is ya flying cuppa T....mobile

oops....where's this clowny carpet heading for???

Originally Posted by YogiBrood

Abra CaDabra...& open Sez me... here is ya flying cuppa T....mobile

oops....where's this clowny carpet heading for???

That a turbon you're wearing or you just pleased to see me?!

Originally Posted by texaslonghorns

I was thinking about the 3 months that they are giving the Iraqi's to use the ration card. I think this is a tool they are using to jump start the economy. You make everyone spend there 10,000 dinars in a 3 month span and the economy will explode. That is if it is revalued prior to being issued. If you give them 1,000 - 10,000 USD worth of buying power, that is going to solve alot of problems for everyone in that country. Not to mention create a huge amount of jobs.

I agree, boost their economy buying houses, land, etc. look at what will happen here in the usa when we start spending our money, starting business, which I'm sure Iraqi's will also do.
So the money they give them is only coming back to them when the people invest in their own country.
It's a totally WIN WIN situtation for Iraq to do this, stop people from working for the insurgents, invest back into Iraq,

LET'S GET ER DONE BOYS, R/V THE DINAR

Originally Posted by singledad

I agree with the point that you are making, however Afganistan loped zeros after the US lead invasion. It has gone up in value since the zero loping.

Good point,

What it means is the cocaine market is exploding since 60% of GNP is poppy related. (g)

Good luck to all, Mike