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

Originally Posted by Adster

11th/12th. This is the meeting where the IAMB will hand over all responsibility/supervision back to the CBI. Once the CBI have that, they can go ahead and revalue as they will have total control over it.


IAMB Meeting Schedule

Venue Date 1. New York December 5, 2003 2. Washington, D.C. December 22, 2003 3. Washington, D.C. February 12–13, 2004 4. Kuwait March 17–18, 2004 5. New York April 22–23, 2004 6. Washington, D.C. May 24–25, 2004 7. Paris June 21–22, 2004 8. Washington, D.C. July 14–15, 2004 9. Kuwait September 7–8, 2004 10. New York October 11–12, 2004 11. Washington, D.C. December 6–7, 2004 12. Paris April 17–18, 2005 13. Amman October 4–5, 2005 14. New York December 28–29, 2005 15. Paris January 23, 2006 16. Washington, D.C. May 30–31, 2006 17. New York July 17–18, 2006 18. Paris October 30–31, 2006 19. December 11–12, 2006

Thanks for for finding this again. This was one of the reasons i thought a RV was not happening today (i wish it would!) but that it would be soon.

Agreed, he is attempting to shake out current investors, and ward off would be investors.Notice how the front page has a picture of Mutaqa Al Sadr with the caption "Is he the future of Iraq", and then the shake out dinar article. The timing is really something else too.

Originally Posted by webinvestor

Simply scare tactics.

Originally Posted by webinvestor

One interesting thing that many don't know is that the Fed Bank has nothing to do with the US Gov. Well, i shouldn't say nothing but they are not an "arm" of the Gov. The Fed is, debatably, the most powerful corporation in the World.

So, the CBI has done a great job of increasing reserves but at the expense of monetary inflation. They can't keep the exchange rate at the level it is and they can't keep buying back dinar in order to control inflation. As you said, they are probably their own worst enemy by keeping the rate where it is.

Does not seem to me the CBI has no intentions to keep it at it's present rate !

Sotaliraq.com


(Voice of Iraq) - 11 - 13-2006



The Central Bank adopted tight monetary policy to deal with high rates of inflation

This is just part of the article

He said the Iraqi Central Bank will adopt a tight monetary policy in this regard is aimed at reducing the inflation base through improved exchange rate of the Iraqi dinar and raise the purchasing power of the Iraqi dinar and make cash more attractive means to reflect the circumstances and encouraging indicators in the economy which would help in addressing the Dah danger of dollarization, which is one of the factors -

The Central Bank adopted tight monetary policy to deal with high

(Voice of Iraq) - 11 - 13-2006 | This issue was sent to a friend

The Republic of Iraq
Council of Ministers-the governmental communications
Media Relations
Press Release Press release /
Monday 11 - 13-2006

The Central Bank adopted tight monetary policy
To address the high rates of inflation

An official from the Iraqi Central Bank on inflationary phenomenon, including the following :
Following the Iraqi Central Bank current trends of inflationary phenomenon and its implications on the tracks economic growth because of their undesirable effects on economic stability and the ability to allocate resources among the various activities of the economy and social conditions, especially the standard of living of the poorer classes and limited father vinegar, It should be noted that inflation in the Iraqi economy, which negatively affected the security conditions resulting from two sources :
First : supply bottlenecks in the real sector, which mainly concentrated in the fuel processing sector and its negative effects on the cost of transport and communication and other production costs.
The second : the significant influence of aggregate demand for goods and services in the economy.
He added : We have reached the annual rates of inflation high levels exceeded 50%. In spite of the positive developments shown by the index of consumer prices (an indicator of inflation) during the month of September 2006, which represented a decrease of 13%. However, the inflation rate base (the index of consumer prices excluding fuel and lighting, transport and communication), which represents the effects of the aggregate demand for goods and services in the Iraqi economy, what remains high and the level of not less than 33%.

He pointed out that the Central Bank notes and in the follow-up of economic policy in general and the implementation of monetary policy in particular, The inflationary effects arising from supply bottlenecks sector requires addressed through other means of economic policy, which is outside the scope of the impact of the Iraqi Central Bank and its monetary policy adopted, realizing that the inflationary effects of the base index, resulting from the demand side can turn Alihalh rooted in the joints and components of the Iraqi economy if not addressed through the measures and procedures required and available to macroeconomic policies and in particular the financial and monetary policies, it found the Central Bank and after-depth analysis of these policies that causes inflation back to the base the following factors :
1. That does not suit the Iraqi dinar exchange rate prevailing with the nominal level, which reflects the real capacity of the Iraqi economy achieved and conditions of flows of foreign currency to the following :
- The oil revenues generated by high oil prices in the world market during the last two years, , which was reflected in the ongoing expansion of government expenditure.


- Power expenses multinational forces stationed in Iraq. , which are internal cover their expenses in foreign currency. As well as the flow of foreign aid is different still available in the local market and foreign currency.


The Almusderali that the Iraqi Central Bank believes that the above factors contributed to their widespread phenomenon of dealing in dollars (Dollar), which are outside the influence of monetary policy, The trends negatively affect the stability of the monetary demand and monetary policy course of action and its role in the stability of the financial market and the Iraqi dinar.
2. In terms of public expenditure has increased paragraph salaries and wages has accelerated during the past two years to reach 60% of GDP-oil after the increase does not exceed 35% till the year 2004.


He said the Iraqi Central Bank will adopt a tight monetary policy in this regard is aimed at reducing the inflation base through improved exchange rate of the Iraqi dinar and raise the purchasing power of the Iraqi dinar and make cash more attractive means to reflect the circumstances and encouraging indicators in the economy which would help in addressing the Dah danger of dollarization, which is one of the factors -

The desired in the work of monetary policy and the level of effectiveness to achieve their goals in reducing inflation. Furthermore, the Central Bank will adopt interest rates help to diversify financial market tools religion gradually terms at the same time enabling increased levels of savings and control the levels of cash.


He went on to say that these measures will provide a climate conducive to the economic stability which will pave the way for reconstruction and achieve the required growth. in addition to higher levels of employment and reducing unemployment, which will be channeled all in the future of the Iraqi economy and prosperity.

Bush meets with the members of the study Iraq

(Voice of Iraq) - 11 - 13-2006
This issue was sent to a friend

WASHINGTON (Reuters) - The American President George Bush, who is under pressure from the Democrats to change their policies on Iraq on Monday with members of a group charged with making recommendations on how to bring peace to Iraq.

Bush met with the Presidents of Iraq and the study group are former Foreign Minister James Baker, the Republican who has a close relationship with the Bush family and former Democratic Attorney Lee Hamilton of Indiana.

The working group in order to raise its final report to Bush and Congress next month.

The working group has attracted considerable attention in the wake of the overwhelming victory of the Democrats in the last week, which allowed them to control the House of Representatives and the Senate.

And on Monday, was expected by the group to monitor the views of Bush and Vice President Dick Cheney, Stephen Hadley, national security adviser to the White House.

Among the trends that rumors that the group has been researched by Washington to open a dialogue with Iran and Syria, which the Bush administration accuses of supporting terrorism and spreading instability in neighboring Iraq to them.

A White House Ftorh about this procedure.

Democrats, and calls for the convening of an international conference on Iraq, attended by Iran, Syria, Turkey, Saudi Arabia, Jordan and Egypt.

Bush chose a member of the study group is the Iraq director of the CIA, Robert Gates previous to replace Defense Secretary Donald Rumsfeld. His appointment requires approval by the Senate.

The postponement of a meeting of the normalization of the situation because of Kirkuk

(Voice of Iraq) - 11 - 13-2006
This issue was sent to a friend

The postponement of a meeting of the normalization of Kirkuk because of the absence of representatives of the Kurds
Essam of Gibraltar
Kirkuk - (Voices of Iraq)
An official source at the Committee for the application of Article 140 of the normalization of the situation in Kirkuk that Kurds in the absence of representatives of the Commission caused the postponement of the meeting which was scheduled to be held today, Monday,.
He said Mohammed Khalil Chairman of the Technical Committee of the Committee for the application of Article 140 in a telephone conversation with the News Agency (Voices of Iraq) Independent today, "the Special Committee postponed to normalize the situation in Kirkuk meeting to be held today, Monday,."
He added Khalil currently installed in Baghdad that "the meeting was postponed due to the absence of representatives of the Kurds on the meeting, which was due to be held today, Monday, which caused no quorum, it was decided to postpone it until next week."
The head of the technical committee, "did not know the reasons behind the failure to attend the Kurdish representatives for the meeting."
He had a committee had been formed to normalization of the situation in Kirkuk in the August 9 August by Prime Minister Nuri al-Maliki, led by the Iraqi justice minister and member of a number of Ministers and the National Security Adviser and a number of representatives of Kirkuk Kurds, Arabs and Turkmen, in addition to Dr. Mohammed Ihsan, minister of the Kurdistan areas outside the Kurdistan Regional government.
The Kirkuk issue of the complicated problems in Iraq, It accused the Kurds of the previous attempts to change the demography of the region Pthjerh of Kurdish families in Thmaniyat and 1990s, housing replaced by Arab tribes, while the Kurds insist on the return of such families in preparation for a referendum in the middle of next year to decide the fate of preserving the oil-rich territory and into Iraqi Kurdistan, This is refuted by the Arabs, Turkmen and Assyrians living in the province.
P b

Originally Posted by H2O_Lover

Does not seem to me the CBI has no intentions to keep it at it's present rate !

Sotaliraq.com


(Voice of Iraq) - 11 - 13-2006



The Central Bank adopted tight monetary policy to deal with high rates of inflation

This is just part of the article

He said the Iraqi Central Bank will adopt a tight monetary policy in this regard is aimed at reducing the inflation base through improved exchange rate of the Iraqi dinar and raise the purchasing power of the Iraqi dinar and make cash more attractive means to reflect the circumstances and encouraging indicators in the economy which would help in addressing the Dah danger of dollarization, which is one of the factors -

Excellent, now get on and do it for facks sake!

The Ministry of Defense announced the adoption of a successful method for determining the locations

(Voice of Iraq) - 11 - 13-2006
This issue was sent to a friend
The Republic of Iraq
Council of Ministers-the governmental communications
Media Relations
Press Release Press release /

The Ministry of Defense announced the adoption of a successful method to locate mortar fire

- Killed 10 terrorists and arrested 65 others and the arrest of 253 suspects and 47 to deactivate an explosive device

The official spokesman for the Ministry of Defense military in the newspapers held today, the escalation of terrorist operations during this week compared to last week, He added that the last week of 10-31-2006 until 11-6-2006, when the number of vehicles collided 8 and 14 of an explosive device, As of this week, for the period from 11 - 7 until 11 - 13 2006, the number of vehicles 12 bombs and explosive devices 15.

He pointed out that the overall military actors within the partitioning operations for the period from 11-17 until 11 - 13-2006 has been arrested 253 suspects and the arrest of 65 wanted terrorists and the killing of ten and 47 to deactivate an explosive device and periodically the implementation of 2297 and the establishment of 693 control, and installed 427 ambush and 22 raids.

The official spokesman yesterday that Imom been lifting some Alsitarat in Baghdad came to modifications in the plan to lift the security and the use of these Alsitarat Bsitarat again, it proved to be impeding traffic and bottlenecks occurring in the traffic control and will be formed in the areas of alternative, stressing that there was a successful and fruitful to know the whereabouts of the student missiles could not be disclosed so as to the success of this process, The Iraqi army has methods and we have sufficient information.

He said the military, which is hampered by mortar fire from residential neighborhoods, if the aim of these districts will be civilian casualties, But if this situation continues we will react appropriately to them, Those who are using mortars are the same totals, which had forced displacement and sectarian violence to achieve their criminal activities.

He denied that the military commander of the division five involved in the work of death squads, which have reported some of the media. In the light of this, Mr. Minister is the formation of two and sent to the province of Diyala, and here came Altinaj that this information is incorrect Hank has not been proven and evidence implicating him, pointing out that any military in the Iraqi army did not have the right to belong to any political hand, and make some firm decisions this topic, especially the recent period and we hope the parliament to approve it as soon as possible.

Bayati confirmed that the ministerial change will be within weeks

(Voice of Iraq) - 11 - 13-2006
This issue was sent to a friend
MP Abbas Al-Bayati of the mass of the United Iraqi Alliance said today that the change ministerial destruction, which called Prime Minister Nuri al-Maliki on Sunday will be a few weeks and will include about ten ministries.

Bayati emphasized that the change will be based on technocrats and efficiency, He pointed out that the amendment will be after the objective evaluation of the Minister and Maliki will inform the masses that will be a change of Ministers and will ask three candidates for each new bag.

He continued Bayati that in the absence of the efficiency of the three candidates, it will be committee members also pointed out that this includes a change in the distribution of portfolios given to the masses, any bags that might go from block to another, regardless of the person.

Replying to a question whether the security ministries covered by the change, Al-Bayati said that all ministries to be changed.

Originally Posted by paynes1

They should have started using some of thier reserves to mop up some of the excess liquidty months ago so they could revalue at a decent rate during the 10,000 dinar handout. Because they have waited until recently to increase the amount of dinar being pulled from circulation it is causing the Iraqi people to suffer. The Inflation they are experiencing was caused by the IMF stipulations that they had to increase fuel costs and remove ration cards. This blows my mind that the GOI is handing out the 10,000 dinar without a revalue. I hope the 10,000 dinar handout has some type of restriction on it were the Iraqi canot get spend it until a date in which revalues, Otherwise, this is a big blunder to keep having auctions at the current rates if the GOI is worried about security. They will never tackle the security problem at the artificially low rate the dinar trades at now.

GOI

This is why a tank of cooking fuel now costs 40k. Fuel was bought in Iraq and sold in neighboring countries at a huge profit due to gov. subsidies. It seems like the pieces are coming together but not necessarily in the fastest or most logical order

A major RV should be soon though, very soon.