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

Sorry if this was posted, but still a good read.
Iraqi deputy PM sees new oil law this year


BAGHDAD (Reuters) -- A policy committee hammering out a draft oil law for Iraq now has only one key issue left to resolve and the legislation should be enacted by the end of the year, Deputy Prime Minister Barham Salih said on Thursday.

He also told Reuters projections of a doubling by 2010 of Iraqi oil exports, now at 1.6 million barrels per day, and of output to 6 million bpd from 2.3 million bpd were "conservative figures" in his view.

Oil revenues are critical to the economy of Iraq, which sits on the world's third largest crude reserves, and Salih said the way they were distributed in the country would spell the difference between a united country or its violent break-up.

"It is a blueprint for a nation at peace with itself and at peace with its neighbors," Salih said in an interview at his residence in Baghdad's fortified Green Zone. "It will determine whether we want to live together as Iraqis or not."

Salih said the committee, which he expected to meet again in a couple of weeks, still had to agree on crucial provisions governing whether development contracts with oil companies could be signed at regional or national level.

"I am hopeful we will be able to bring the group together on this matter," he said.

The contracts issue is the most critical of all because a major regional say will devolve more power over resources to Iraq's majority Shias and ethnic Kurds, who populate the oilfield regions, than the national government.

Minority Sunni Arabs, the dominant group under Saddam Hussein, fear regional devolution will leave them with nothing.

Salih chairs a government committee on oil and energy policy composed of key ministers which had struggled to overcome deep differences on the components of a new law to replace provisions dating from the rule of Saddam Hussein.

But he said a three-day "retreat" at his residence six weeks ago had overcome four of the five critical issues.

The committee had agreed that Iraq's two national oil companies should be turned into a holding company with operational affiliates to manage different aspects of the industry, Salih said.

It had also agreed oil policy would be set nationally and that the oil ministry would be restructured and transformed into a regulatory body. All revenues would be deposited in a single national account.

"The revenues will be shared between all the people of Iraq in accordance with the constitution," Salih said.

Under Saddam, the oil ministry had full control over all aspects of the industry but the revenues went to the finance ministry. Much of the money went to enriching Saddam and his close circle and to funding the military.

He deprived the main oilfield areas, the majority Shia south and the Kurdish north, of the profits from oil and left them severely underdeveloped.

Shia and Kurdish leaders are reluctant after decades of oppression to concentrate control over oil revenues centrally and have pushed in negotiations for a big say in negotiating contracts with foreign oil companies.

Salih, an ethnic Kurd, specifically rejected the word "central" but insisted Iraq's future lay in national oversight and distribution of oil revenues to ensure they were shared fairly. "We have narrowed the gap in a very significant way on this very principle," Salih said.

Years of UN sanctions, mismanagement under Saddam and now daily violence since the 2003 U.S.-led invasion have severely degraded Iraq's oil sector and it now needs billions of dollars of capital investment.

Oil had been a curse under Saddam, he said, but now could become a blessing that would help stem Iraq's sectarian and ethnic bloodletting and undermine the insurgency by Saddam loyalists from the once dominant Sunni Arab minority.

"My expectation is that we will reach consensus on the oil law. This is the indication I have from the various players," Salih said. Asked whether the law could be passed by Iraq's Shi'ite- dominated parliament by the end of the year as previously announced, he said: "I think it is realistic, very much so.

FOREX-Dollar extends gains on Fed-on-hold view
Mon, Nov 6 2006, 12:48 GMT
http://www.reuters.com



(Updates price, adds quotes)

By Natsuko Waki

LONDON, Nov 6 (Reuters) - The dollar hit a one-week high against the yen and rose versus the euro on Monday, supported by last week's solid U.S. jobs report which reinforced the view the Federal Reserve was unlikely to cut interest rates soon.


More Info Here:FOREX-Dollar extends gains on Fed-on-hold view

i plan on going to the bank tomorrow and see if they are still selling dinar, if so i'm going to purchase some more. i'll see what they say and if it delivers the following day. i'll keep you posted on how this transaction finishes out.

WHERE IS ARCH ANGEL, ADSTER, OFFSHOREWEALTH ?

VERY QUIET LATELY~

Originally Posted by www.xealthy.com

WHERE IS ARCH ANGEL, ADSTER, OFFSHOREWEALTH ?

VERY QUIET LATELY~

Probably doing what the rest of us should do once in awhile. Is to take some time away for the computer, Or there are doing research to find us the good read out there or there have gone over to Iraq to tell them to hurry up and R/V already

Originally Posted by bubbajr

Probably doing what the rest of us should do once in awhile. Is to take some time away for the computer, Or there are doing research to find us the good read out there or there have gone over to Iraq to tell them to hurry up and R/V already

Susie said she was waiting for 8am, iraq and that's in about 3 min. She posted something about it this morning, about 8am our time and said she had about 12 hrs to go, so I imagine she'll be around soon.
Let's hope with good news
-----------------------------------------------
sgs post
its 8pm baghdad right now and it will be 12 hours before tuesday begins at the bank which for me will be a gigantic WOoT!!!!!!!!!!!
__________________
for facks sake adster says we are gonna be RICH!!
me & the kurds @ $1.20OK OK, NOVEMBER IS SUPERIOR, WHAT CAN I SAY????

Here we go guys they are talking about the economy. Our time has now come!!!!!

Economists Warn Iraqis growing inflation problem

(Voice of Iraq) - 07-11-2006
This issue was sent to a friend

Economists Warn Iraqis the growing problem of inflation in the economic Iraq
Baghdad-file Press
Economists and academics warned Iraqis of the consequences of the growing problem in Iraq about inflation rates but extremely dangerous and scary as they hit during the month of August last 76%, which economists Iraqis seen as representing the major illnesses. This comes due to suspension of most of the productive sectors and the continuing fuel crisis in addition to plenty of cash flow.

Economists and interested in this area emphasize the importance of moving the process of comprehensive economic reform, because inflation is one of the reasons behind the Iraqi economy and faltering considering that not a cure for inflation only through the processing and activation of all productive sectors, whether industrial or agricultural or service. Therefore, the activation of these sectors is one of the solutions to the problem of inflation, which began an excessive burden on the Iraqi citizens and Iraqi family and the diminution of well-being and prosperity of society.

Dr. Ali Baban, the Iraqi Minister of Planning said : (The figures for the case of serious inflation is a state of ill Iraqi economy and the deterioration of the situation in the productive sectors should be addressed as soon as) saying : (It is not a cure for inflation only improvement in the Iraqi economy and the overall improvement of productive sectors and to address the problems that face).

And continues : (Inflation is not caused by one single factor, but it is an indicator of poor Iraqi economy a whole. If the state of the economy should not be a virile inflation and inflation if it is limited).

He added : Papan (I hope that everyone of inflation seen from the perspective of a holistic sense to look at through the reality of the economy and not by the fact that monetary policy only monitors the amount of money and the money supply, interest rates and credit policy, etc.) explaining : (monetary policy that inhabit disease and Ataaljeh When we discount rate or Nkhfedah follow the policy of strict or lenient credit, we will try calming the disease and Anaaljeh. and the disease is in the productive sectors and the state of the economy in general and if the productive sectors remained unchanged do not expect a decrease in the course of Altdkh m or decline it. If evolved these sectors and recovering agricultural sector and the industrial and service when it begins to revolve the wheel of economy and inflation will Baltraj).

The Papan to : (The credit policy will play an important role in the treatment of inflation and this issue must be known to all, We do not expect that the Central Bank reduced rates when credit or picks will succeed in controlling the phenomenon of inflation problem is not confined to the private credit and Avi issue of balance between the quantity of money and money supply, but only in the productive sectors, In the Iraqi productivity. This is the other dimension of the issue, the "productivity" of the individual back Therefore, the unemployment closely related to inflation).

For his part, Dr. Kamal Basri, undersecretary of the Ministry of Finance and head of the Iraqi Center for Economic Reform : (The "phenomenon" of inflation came from the presence and abundance of cash with the scarcity of the goods and services. The abundance of liquidity in the cash came from this year's budget allocated amounts of cash many of the salaries and wages increased about 90% from what it was last year ... This pumping major financial market. while the goods and services in the market b Jae less for a variety of reasons, including security and why this factor making markets confused, in addition to the transit of goods from the border outlets became very agitated because of the security factor as well).

He adds : (Also, the lack of fuel contributed to the reduction of existing goods in the local market. in addition to an abundance of cash to the individuals caused a rise in the prices of the deal, we believe that the security situation is essential for each case (

He stressed the work to encourage the State to end the monopoly of the Ministry of Oil import and sale of oil derivatives, and need to give space to the private sector to fill the existing gap.

He stressed the need for the optical link the issue of reforming the state oil derivatives in a series of actions : (It is not enough to make the step and leave the remaining steps) ... The prices of oil derivatives, reform is necessary and correct, but must be accompanied by an integrated program to protect the poor ... (We also need to support the services of water, electricity, transportation and others, Without this reform be extracted and integrated and affect the economic well-being of citizens).

Basri said : (What is the percentage of high inflation is frightening, Therefore it has become necessary for the State to the linking production spending. If the conditions the same, I believe that the inflation rate in the next month would be high).

As Abdullah Albandar member of the Iraqi Center Director in the Economic and Finance Ministry, indicated that the inflation rate reached last August, 76%, a figure that seriously ... The ratio of inflation between the seventh and eighth month last by fluctuating between 26-20% and this is very dangerous, if the rate of inflation without a high rates of economic growth, this would constitute a problem.

The appearance of Dr. Mohamed Saleh, director general of the Economic Iraqi Central Bank has pointed out : (The three elements in the Iraqi economy, inflation is at the center rents have risen to the rate of inflation up to 41%. food rose in July to 23% and the fuel is also up to 19% and the rest of descent constitute 14%).

Saleh said : (Iraqi economy suffers from a structural imbalance due to the domination of the oil sector and some other sectors. The essential point that the draft reform of the State generate vibrations on the old traditions (the support), as everyone knows, the direct and indirect constitute 80% of national income in Iraq, this strange phenomenon in the world ... Therefore, any response to this support generates Thus imbalances In my opinion, would not be a solution to this matter but to solve the problem of unemployment and build the priority projects that could absorb unemployment and generate economic activity and housing projects which they constitute 20% of the labor force Iraqi).

He adds : (Under these circumstances, if control of the prices of oil derivatives has been working on ration cards for a certain period of a couple of distribution then the market would be reassured by much of this to be a growth and some monetary reforms to control the money supply that accompany inflation)

I like to see you get exited Charmed, but I don't get the reason for your exitement. Would you break it down for me a little. I see they are speaking of the economy. I am looking for them to speak of the revaluation of the currency, RIGHT?

Originally Posted by CharmedPiper

Here we go guys they are talking about the economy. Our time has now come!!!!!

Economists Warn Iraqis growing inflation problem

(Voice of Iraq) - 07-11-2006
This issue was sent to a friend

Economists Warn Iraqis the growing problem of inflation in the economic Iraq
Baghdad-file Press
Economists and academics warned Iraqis of the consequences of the growing problem in Iraq about inflation rates but extremely dangerous and scary as they hit during the month of August last 76%, which economists Iraqis seen as representing the major illnesses. This comes due to suspension of most of the productive sectors and the continuing fuel crisis in addition to plenty of cash flow.

Economists and interested in this area emphasize the importance of moving the process of comprehensive economic reform, because inflation is one of the reasons behind the Iraqi economy and faltering considering that not a cure for inflation only through the processing and activation of all productive sectors, whether industrial or agricultural or service. Therefore, the activation of these sectors is one of the solutions to the problem of inflation, which began an excessive burden on the Iraqi citizens and Iraqi family and the diminution of well-being and prosperity of society.

Dr. Ali Baban, the Iraqi Minister of Planning said : (The figures for the case of serious inflation is a state of ill Iraqi economy and the deterioration of the situation in the productive sectors should be addressed as soon as) saying : (It is not a cure for inflation only improvement in the Iraqi economy and the overall improvement of productive sectors and to address the problems that face).

And continues : (Inflation is not caused by one single factor, but it is an indicator of poor Iraqi economy a whole. If the state of the economy should not be a virile inflation and inflation if it is limited).

He added : Papan (I hope that everyone of inflation seen from the perspective of a holistic sense to look at through the reality of the economy and not by the fact that monetary policy only monitors the amount of money and the money supply, interest rates and credit policy, etc.) explaining : (monetary policy that inhabit disease and Ataaljeh When we discount rate or Nkhfedah follow the policy of strict or lenient credit, we will try calming the disease and Anaaljeh. and the disease is in the productive sectors and the state of the economy in general and if the productive sectors remained unchanged do not expect a decrease in the course of Altdkh m or decline it. If evolved these sectors and recovering agricultural sector and the industrial and service when it begins to revolve the wheel of economy and inflation will Baltraj).

The Papan to : (The credit policy will play an important role in the treatment of inflation and this issue must be known to all, We do not expect that the Central Bank reduced rates when credit or picks will succeed in controlling the phenomenon of inflation problem is not confined to the private credit and Avi issue of balance between the quantity of money and money supply, but only in the productive sectors, In the Iraqi productivity. This is the other dimension of the issue, the "productivity" of the individual back Therefore, the unemployment closely related to inflation).

For his part, Dr. Kamal Basri, undersecretary of the Ministry of Finance and head of the Iraqi Center for Economic Reform : (The "phenomenon" of inflation came from the presence and abundance of cash with the scarcity of the goods and services. The abundance of liquidity in the cash came from this year's budget allocated amounts of cash many of the salaries and wages increased about 90% from what it was last year ... This pumping major financial market. while the goods and services in the market b Jae less for a variety of reasons, including security and why this factor making markets confused, in addition to the transit of goods from the border outlets became very agitated because of the security factor as well).

He adds : (Also, the lack of fuel contributed to the reduction of existing goods in the local market. in addition to an abundance of cash to the individuals caused a rise in the prices of the deal, we believe that the security situation is essential for each case (

He stressed the work to encourage the State to end the monopoly of the Ministry of Oil import and sale of oil derivatives, and need to give space to the private sector to fill the existing gap.

He stressed the need for the optical link the issue of reforming the state oil derivatives in a series of actions : (It is not enough to make the step and leave the remaining steps) ... The prices of oil derivatives, reform is necessary and correct, but must be accompanied by an integrated program to protect the poor ... (We also need to support the services of water, electricity, transportation and others, Without this reform be extracted and integrated and affect the economic well-being of citizens).

Basri said : (What is the percentage of high inflation is frightening, Therefore it has become necessary for the State to the linking production spending. If the conditions the same, I believe that the inflation rate in the next month would be high).

As Abdullah Albandar member of the Iraqi Center Director in the Economic and Finance Ministry, indicated that the inflation rate reached last August, 76%, a figure that seriously ... The ratio of inflation between the seventh and eighth month last by fluctuating between 26-20% and this is very dangerous, if the rate of inflation without a high rates of economic growth, this would constitute a problem.

The appearance of Dr. Mohamed Saleh, director general of the Economic Iraqi Central Bank has pointed out : (The three elements in the Iraqi economy, inflation is at the center rents have risen to the rate of inflation up to 41%. food rose in July to 23% and the fuel is also up to 19% and the rest of descent constitute 14%).

Saleh said : (Iraqi economy suffers from a structural imbalance due to the domination of the oil sector and some other sectors. The essential point that the draft reform of the State generate vibrations on the old traditions (the support), as everyone knows, the direct and indirect constitute 80% of national income in Iraq, this strange phenomenon in the world ... Therefore, any response to this support generates Thus imbalances In my opinion, would not be a solution to this matter but to solve the problem of unemployment and build the priority projects that could absorb unemployment and generate economic activity and housing projects which they constitute 20% of the labor force Iraqi).

He adds : (Under these circumstances, if control of the prices of oil derivatives has been working on ration cards for a certain period of a couple of distribution then the market would be reassured by much of this to be a growth and some monetary reforms to control the money supply that accompany inflation)

Invisibility newspapers suspended deprived readers of communication

(Voice of Iraq) - 06-11-2006
This issue was sent to a friend

Invisibility newspapers suspended deprived readers of communication. The long-issued eight pages
Baghdad - (Voices of Iraq) Gains Iraqi newspapers issued today, Monday, for the second day in a row because of the curfews decision taken by the Iraqi government as of this morning yesterday, Sunday, and until further notice, while the daily newspaper Al-Mada published eight pages, which impact on readers and communicating with the newspapers print.
But this action in the framework of the decision taken by the government in anticipation of any reactions may be issued after the sentencing of former Iraqi president Saddam Hussein and seven of his aides in the case of Al.
The Iraqi government announced the continuation of the curfew imposed on Baghdad and the provinces of Salaheddin and Diyala until six in the evening yesterday in the first.
The sources in the Ministry of the Interior that "the security situation that will determine the continuation or termination of the embargo."
But the curfew has had a negative impact on some newspapers and interfacing with the readers.
He said Mr. Hussein Al-Obaidi, chief editor of the daily newspaper sovereignty News Agency (Voices of Iraq) alone "was the curfews negative impact on the daily newspapers as a result of the movement of events especially important political events, The impact and Adj on to the reader that he used to read the newspapers every day. "
He added : "The satellite did not meet the need of the reader as they meet the daily Iraqi press is printed on the transfer of more precise details of the events, especially the resumption of the trial of Saddam to be held tomorrow consequences, as well as the impact on the risk associated with the press declarations and self-financed. "
He said Abdul Zahra Al-Bayati, Deputy Chief Editor of the daily newspaper the new evidence "that the local press is an important means of public opinion in the industry and the delivery of information to the recipient, It is also an important means of documenting the major events in people's lives, but what Unfortunately, the interruption of these newspapers these days feature lose contact with the event and thus be clear impact on the reader because of the curfews that sometimes last for a few days. "
He demanded the government Bayati opening the door or give an exception to newspapers employees and distribution companies and printing presses continue to work in situations of curfew to continue in the hearts of these newspapers, like satellite radio and because curfews harm and injustice against the media, including print newspapers. "
While the newspaper Al-Mada, is the only newspaper published in Baghdad despite the curfew.
He said one of the members of the Liberation News Agency (Voices of Iraq) Independent today, Monday, "that a group of workers and editors lived in the newspaper from the day on which the earlier day of the trial and the imposition of curfews."
He added, "the newspaper also sent delegates to the courtroom to cover the baskets."
He said, "The newspaper issued eight pages, not 16 pages also issued daily news and dependent on the Internet and Maibathe Press by telephone."
While the distribution to the delegates themselves who distributed the paper on motorbikes in residential areas.
P P-h-n p

Originally Posted by CharmedPiper

Here we go guys they are talking about the economy. Our time has now come!!!!!

Economists Warn Iraqis growing inflation problem

(Voice of Iraq) - 07-11-2006
This issue was sent to a friend

Economists Warn Iraqis the growing problem of inflation in the economic Iraq
Baghdad-file Press
Economists and academics warned Iraqis of the consequences of the growing problem in Iraq about inflation rates but extremely dangerous and scary as they hit during the month of August last 76%, which economists Iraqis seen as representing the major illnesses. This comes due to suspension of most of the productive sectors and the continuing fuel crisis in addition to plenty of cash flow.

Economists and interested in this area emphasize the importance of moving the process of comprehensive economic reform, because inflation is one of the reasons behind the Iraqi economy and faltering considering that not a cure for inflation only through the processing and activation of all productive sectors, whether industrial or agricultural or service. Therefore, the activation of these sectors is one of the solutions to the problem of inflation, which began an excessive burden on the Iraqi citizens and Iraqi family and the diminution of well-being and prosperity of society.

Dr. Ali Baban, the Iraqi Minister of Planning said : (The figures for the case of serious inflation is a state of ill Iraqi economy and the deterioration of the situation in the productive sectors should be addressed as soon as) saying : (It is not a cure for inflation only improvement in the Iraqi economy and the overall improvement of productive sectors and to address the problems that face).

And continues : (Inflation is not caused by one single factor, but it is an indicator of poor Iraqi economy a whole. If the state of the economy should not be a virile inflation and inflation if it is limited).

He added : Papan (I hope that everyone of inflation seen from the perspective of a holistic sense to look at through the reality of the economy and not by the fact that monetary policy only monitors the amount of money and the money supply, interest rates and credit policy, etc.) explaining : (monetary policy that inhabit disease and Ataaljeh When we discount rate or Nkhfedah follow the policy of strict or lenient credit, we will try calming the disease and Anaaljeh. and the disease is in the productive sectors and the state of the economy in general and if the productive sectors remained unchanged do not expect a decrease in the course of Altdkh m or decline it. If evolved these sectors and recovering agricultural sector and the industrial and service when it begins to revolve the wheel of economy and inflation will Baltraj).

The Papan to : (The credit policy will play an important role in the treatment of inflation and this issue must be known to all, We do not expect that the Central Bank reduced rates when credit or picks will succeed in controlling the phenomenon of inflation problem is not confined to the private credit and Avi issue of balance between the quantity of money and money supply, but only in the productive sectors, In the Iraqi productivity. This is the other dimension of the issue, the "productivity" of the individual back Therefore, the unemployment closely related to inflation).

For his part, Dr. Kamal Basri, undersecretary of the Ministry of Finance and head of the Iraqi Center for Economic Reform : (The "phenomenon" of inflation came from the presence and abundance of cash with the scarcity of the goods and services. The abundance of liquidity in the cash came from this year's budget allocated amounts of cash many of the salaries and wages increased about 90% from what it was last year ... This pumping major financial market. while the goods and services in the market b Jae less for a variety of reasons, including security and why this factor making markets confused, in addition to the transit of goods from the border outlets became very agitated because of the security factor as well).

He adds : (Also, the lack of fuel contributed to the reduction of existing goods in the local market. in addition to an abundance of cash to the individuals caused a rise in the prices of the deal, we believe that the security situation is essential for each case (

He stressed the work to encourage the State to end the monopoly of the Ministry of Oil import and sale of oil derivatives, and need to give space to the private sector to fill the existing gap.

He stressed the need for the optical link the issue of reforming the state oil derivatives in a series of actions : (It is not enough to make the step and leave the remaining steps) ... The prices of oil derivatives, reform is necessary and correct, but must be accompanied by an integrated program to protect the poor ... (We also need to support the services of water, electricity, transportation and others, Without this reform be extracted and integrated and affect the economic well-being of citizens).

Basri said : (What is the percentage of high inflation is frightening, Therefore it has become necessary for the State to the linking production spending. If the conditions the same, I believe that the inflation rate in the next month would be high).

As Abdullah Albandar member of the Iraqi Center Director in the Economic and Finance Ministry, indicated that the inflation rate reached last August, 76%, a figure that seriously ... The ratio of inflation between the seventh and eighth month last by fluctuating between 26-20% and this is very dangerous, if the rate of inflation without a high rates of economic growth, this would constitute a problem.

The appearance of Dr. Mohamed Saleh, director general of the Economic Iraqi Central Bank has pointed out : (The three elements in the Iraqi economy, inflation is at the center rents have risen to the rate of inflation up to 41%. food rose in July to 23% and the fuel is also up to 19% and the rest of descent constitute 14%).

Saleh said : (Iraqi economy suffers from a structural imbalance due to the domination of the oil sector and some other sectors. The essential point that the draft reform of the State generate vibrations on the old traditions (the support), as everyone knows, the direct and indirect constitute 80% of national income in Iraq, this strange phenomenon in the world ... Therefore, any response to this support generates Thus imbalances In my opinion, would not be a solution to this matter but to solve the problem of unemployment and build the priority projects that could absorb unemployment and generate economic activity and housing projects which they constitute 20% of the labor force Iraqi).

He adds : (Under these circumstances, if control of the prices of oil derivatives has been working on ration cards for a certain period of a couple of distribution then the market would be reassured by much of this to be a growth and some monetary reforms to control the money supply that accompany inflation)

I am going to say we, out there appreciate all of the highlighted areas, It helps me very much and the others that are new on this. To be able to desipher all that is there. I want to thanks all of the other great people that help in this madness of ours to keep thing straight and understand the complexity of this. The best dream I have is for everyone here to have their dreams fulfilled and the Iraqis to have there dreams fulfilled and all of us live happily ever after.