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

Originally Posted by kiko

It's not negative. No RV for today (as till now).

I still think the key is the 10,000 dinar handout, but we don't read about this.

It will come. I move on to the next exciting moment.

I have been waiting for two hours now for someone to answer my earlier question if we know anything about the 10k handed out...no one answered though...:(

So I take it , the 10k has not been handed out...

Saudi Arabia grants 1.5 billion dollars
The Iraqi delegation called on Kuwait to drop its debt--------------------------------------------------------------------------------

Dr. Barham Salih, Deputy Prime Minister and Head of the Iraqi delegation to the International Conference in Kuwait, along with Dr. Muwaffaq Rubaie, the National Security Adviser and the accompanying delegation met with the President of the Kuwaiti National Assembly Jassem Mohammad Al-Khorafi and discussed bilateral and parliamentary relations as well as ways of developing them and unify stances in international assemblies.

He stressed the necessity of eliminating the effects of past and enhance the cooperation between the two brotherly nations. They also thanked the Kuwaiti people and government for their support to Iraq in difficult circumstances. Dr. Muwaffaq Rubaie also met with the Prince of Kuwait, Sheikh Sabah Ahmed Sabah, and discussed the issue of Kuwaiti debt on Iraq, reconstruction and cooperation between the two countries in all fields.

Dr. Barham Salih said that the security situation in Iraq will witness some improvement if Syria cooperate with the Iraqi government to work on controlling the border and prevent the infiltration of terrorists.

Saleh said in a joint press conference with the Special Representative of the Secretary-General of the United Nations, Ashraf Qazi, after the preparatory meeting of the International Covenant with Iraq, which was concluded in Kuwait yesterday: that Syria need to work harder, with greater credibility and must be aware of the gravity of the situation in Iraq, and make serious changes to deal with the political and security conditions in Iraq. The National Security Advisor Dr. Muwaffaq Rubaie revealed in another a press conference held on the sidelines of the same preparatory meeting that a senior official from one of the neighboring countries, will visit Iraq during the next few days to find a political solution for the benefit of Iraq on the security level, without mentioning the name of the official or the state. But unofficial sources in Kuwait reported that the official, who intended to visit Baghdad in this regard, is the Syrian Foreign Minister Waleed Al-Mu'allim.

About the question of, "Assabah" on the timetable of the political and economic reforms that have been agreed to take place in the meeting, and whether Iraq possesses the suitable environment for conducting such reforms, the Deputy Prime Minister said that the commitments made by Iraq to the international community of political and economic reforms over the next four years, stem from knowing the requirements of achieving stability in the country, and based on the initiative of the Prime Minister in the national reconciliation and the government's program of action in the coming stage, as well as other economic agreements signed as part of the debt write-off of the Paris Club. He pointed out that Iraq will implement these reforms, which are in the interest of the Iraqi people, according to the vision of the elected government that represents it, with or without the international support. At the same time, he hoped for the international community's serious stand with Iraq to cross it to shore safely.

He pointed out that there are many of the accounts are cleared at the expense of the Iraqi people and the Iraqi leadership is well aware of the gravity of the situation, which can not continue. Everybody must understand that the instability in Iraq will reflect negatively on the whole region, and those who want to manipulate the security of Iraq should reap the consequences. He called on the neighboring countries to assume their responsibilities in this regard and cooperate against terrorism, which threatens the region.

He pointed out that the problem of financial and administrative corruption, is the most important obstacle to the work of the Iraqi government and instigates the security situation in Iraq. He confirmed that among the articles of the Covenant submitted by Iraq to the international community, is to deal with this problem that can not be ignored, uprooting corruption and collaborating with partners in order to achieve all of the aforementioned reforms.

New offers were received during the preparatory meeting of the Covenant and new financial commitments in support of Iraq by the United States, the European Union and Saudi Arabia, which pledged $ 1 billion provided to Iraq in the form of grants, aid and loans, as well as (500) million dollars provided for the private sector in Iraq. He stressed that Iraq would be able to obtain clear commitments from the international community after launching the International Covenant in providing economic support, grants, facilitated loans, debt write-off and canceling penalties from the previous decades, in addition to providing technical assistance and encourage the Iraqi private sector. On his part, Special Representative of the Secretary-General of the United Nations, Ashraf Qazi, expected a broader regional and international participation in the International Covenant with Iraq to be held late this year. He pointed out that the entire world is interested in the stability of the situation in Iraq. Al-Rubaie said, in a speech delivered at the preparatory meeting of the Conference that the conditions are very difficult and, the Iraqi government is still seeking to achieve this goal in addition to national reconciliation. Economic reform as well as international and regional support for Iraq's efforts represents an important element in enhancing the security situation and restore stability in the country.

He pointed out that the Iraqi government has launched the plan of national reconciliation in order to expand the participation of the parties involved in the initiative, regardless of their ideology and policy.

Saudi Arabia grants 1.5 billion dollars | Iraq Updates

Originally Posted by Jola

I have been waiting for two hours now for someone to answer my earlier question if we know anything about the 10k handed out...no one answered though...:(

So I take it , the 10k has not been handed out...

Think you are right about it. They say early next week that's probably thursday in Iraq.

does anyone know exactly how kuwait revalued their currency?? I heard it was down at around .10 per dinar during the war and now its pushing 3.00 did it have a large revalue? or did it just climb back up during a period of time?? was it re-introduced to forex?? anyone know the hitory on the kuwait dinar?? just curious may give some insight to how this will work..thanks in advance :-)

Originally Posted by kiko

It's not negative. No RV for today (as till now).

I still think the key is the 10,000 dinar handout, but we don't read about this.

It will come. I move on to the next exciting moment.

Hello kiko,

Thanks for your reply. as I have read some other posts after quoteing you I realise that I have been wrong.
I assumed that CBI did sell US$ 109.150.000 worth of IQD. But now I understand that they did purchase US$ 109.150.000 worth of IQD, and that they sold US$ 3.000.000 worth of IQD.

Have I now gotten things strait? or am I far out in space?

Please ecskuse my poor English. I am from Norway, and my English grammar are rather poor I'm afraid.

Originally Posted by owejac

Hello kiko,

Thanks for your reply. as I have read some other posts after quoteing you I realise that I have been wrong.
I assumed that CBI did sell US$ 109.150.000 worth of IQD. But now I understand that they did purchase US$ 109.150.000 worth of IQD, and that they sold US$ 3.000.000 worth of IQD.

Have I now gotten things strait? or am I far out in space?

Please ecskuse my poor English. I am from Norway, and my English grammar are rather poor I'm afraid.

I still think this could be the smaller denominations. They have to account for them somehow...With such a huge purchase it would make sense since they would needed to be distributed throughout the banks. Just a thought but sure sounds like they are being sneaky.....!

Originally Posted by webinvestor

Something else - they did not sell on Thursday 2006 / 11/ 2, they only bought (US) 70.245.000...

Am i reading these auction reports correctly?

I usually don't see an amount for the sell....is this unusual for the rates on 11/7?

Originally Posted by Cdn Scrooge

Another reason why it is so important to Europe and North America that Iraq get back to a high oil production level. They are NOT a member of OPEC and are not bound by OPEC's decisions. And as long as they continue towards a full democracy they are not likely to become members. Getting their oil production levels up will make it more difficult for OPEC to manipulate oil prices.

Interesting,

Wouldn't it be nice to see Iraq become an alternative to OPEC, like IPEC, and forget OPEC all together. After all, most of the countries connected with OPEC are anti America, so talk about a coup, imagine if a deal was struck with Iraq that would and could replace OPEC in time, now wouldn't that be a shot in the arm for their economic recovery.

With Chavez being re-elected, combined with Iran's position, why should we be purchasing oil from anti American OPEC members. Talk about an ideal time to send OPEC packing, this would be it. Iraq has more than enough oil reserves to supply U.S. and Europe, as well as China and Japan, so imagine what this could do in the next five years to OPEC.

I am sick and tired of being manipulated by BIG OIL, and that is exactly what is happening with both OPEC and BIG OIL, just look at the record profits of Mobile/Exxon to see we are all being ripped off BIG TIME. Granted, we will always be hooked on oil, but I think we would all be better off if we tapped into Iraqi oil exclusively which would stabilize market prices, as well as send these dictators to hell like in VZ, Iran and Africa to start. With CAN and Iraq oil reserves, who needs dictator oil?

Good luck to all, Mike

Originally Posted by owejac

Sorry so be negative but CBI has traded US$ 109.150.000 worth of dinars today 7/11-06 so it seems like no r/v today. It looks like the biggest ammount traded ever.

http://www.cbiraq.org/C.B.I.%20FOREI...20AUCTIONS.pdf

What I think is odd, are that there are no market price available for 7/11-06.

C.B.I. FOREIGN EXCHANGE AUCTIONS
Year Date Market Price Auction Price Volume (000 USD)
3 7-Nov 1,468 109,105

That is not dinar that is being sold that is US, it is being sold for dinar. It has been that way for a long time now.

Iraq's appeals court is expected to rule on Saddam's guilty verdict and death sentence by the middle of January, the chief prosecutor said, setting in motion a possible execution by mid-February. If the ruling is upheld, Iraq's three-man presidential council is pledged to allow Saddam's hanging to take place. The execution must be carried out within 30 days of the appeals court's decision