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

Originally Posted by Vipor

This was posted a couple of pages back. (post #210)

Thanx Vipor...I was sure I had read it before

Originally Posted by webinvestor

Ya, you're right. I forgot that article. It was from last week i think.

With all the news we've had this week alone, it's not a wonder we have forgotten future events...lol

Originally Posted by shotgunsusie

didnt someone mention $3.?? something a few days ago trying to correct your figures? or were they turning the equation around? they said that was the older rate of it.

Yep, we were sorta talking about it having a rate sometime of $3.67. Just don't know when it was? But I wasn't trying to correct her, I was just asking because that was the only rate I had seen in regards to a yazzman rate.

Originally Posted by mrvgs

So will we will have 1 year to exchange for euros?

I have heard that with the cocain problems in Europe, that about 90% of the Euro notes are deterarating from the chemicals in the Dope. They use the notes as a straw to snort the shiite. Just something I have heard official as Europe is in need to print New Currency. Just passing this own. I am sure if it is Googled, it will be found to be a fact.

Iraqis are the main foreign investors in Jordan
14/11/2006
Source: Translated by IRAQdirectory.com


Official Jordanian figures pointed out that the Iraqi investors are on top of the list of non-Jordanian investors in Jordan; their investments amounted to 118 million dinars during the first ten months of this year.

According to a publication of "the Ministry of Industry and Trade", these investments represent about 12% of the total investments in companies registered in Jordan during the first ten months of this year, which amounted to 982.4 million dinars; also representing about 32.5% of the investments by non-Jordanians, which the bulletin estimated them by 336 million dinars.

The bulletin pointed out that the number of Iraqi investors registered with the Corporations Control Office until September hit about 3927 investor; estimated volume of their investments over the past six years at about 345.7 million dinars distributed to various productive sectors.

The Iraqi investments in the services sector amounted to 140.3 million dinars, while hit 127.9 million dinars in the trade sector, about 58.7 million in the agriculture sector, about 15 million dinars in the industry, and about 3.5 million dinars in contracting.

According to figures issued by the Department of Lands, the Iraqis bought, during the first ten months of this year, real estates and lands valued by 76 million dinars; that is 1.9% of the total sales in this sector, and about 50% of the total sales of non-Jordanians in the same period. This replaces Iraqis on top of the list of investors in lands and real estates of non-Jordanians, followed by Kuwaitis who used to occupy the first place, Saudis ranked third, followed by holders of American citizenship then the Syrians.

Hundreds of thousands of Iraqis arrived in the Kingdom after lifting the travel ban in 1991 following the end of the first Gulf War, since that Jordan was the only legitimate outlet to get out of Iraq. While some Iraqis used Jordan conduit to travel to various countries around the world, others settled in, illegally for a large number of them, which makes it difficult to obtain accurate statistics of the number of Iraqis living in Jordan; however, they are estimated by a quarter of a million.

http://www.iraqdirectory.com/DisplayNews.aspx?id=2576

Another billion dollars available for Baghdad reconstruction





BAGHDAD, Nov 14, 2006 (AFP) - More than one billion dollars has been made available to Iraqi authorities for reconstruction projects over the coming months, a top US official said Tuesday.

"The biggest challenge is how to spend the money," said Daniel Speckhard, deputy chief of mission at the US embassy, on the sidelines of a workshop on Iraq's reconstruction.

Speckhard said more than one billion dollars has been spent in a slew of projects in Baghdad over the past three years, however the city still has poor services and on average only a few hours of electricity a day.

"And for the other ongoing and new projects, we have another billion dollars available," Speckhard told AFP after the workshop attended by Deputy Prime Minister Barham Saleh and top US military and civil officials.

Among the key projects completed or almost nearing completion are a 37-million-dollar electrical substation in the southern Al-Rashid district and a seven-million-dollar water treatment plant in Sadr City, northeast Baghdad.

Saleh stressed at the gathering that Baghdad will be the focus for reconstruction in the coming months.

"In the last six months Baghdad has received funds equal to what it got in the last 10 years," said Saleh, a Kurd. "Baghdad is the capital of Iraq and we will do our best."

Speckhard said that implementation of the projects was becoming a little easier since the launch of the Baghdad security plan, "Operation Together Forward."

"The situation in various neighbourhoods is improving since the security operation," he said.

US and Iraqi forces launched the security plan in mid-June in an attempt to restore stability in the strife-torn Iraqi capital. The daily death toll has remained unchanged, however.

Speckhard also highlighted that most of the contracts were now being executed by Iraqi companies, except "those which are large and require specialised technology".

Iraq's 20-billion-dollar reconstruction process has been hampered by violence, corruption and bureaucratic red tape, with nearly nine billion dollars going unaccounted for, according to US federal agency monitoring the work.

Earlier this year, Stuart Bowen, the special inspector general for Iraq's reconstruction, was quoted as saying the money was missing because of almost "non-existant oversight" by the Coalition Provisional Authority.

The entity governed Iraq in the aftermath of the March 2003 invasion.

jds/pcs/hc

Iraq-unrest-Baghdad-reconstruction

My apologies if this is a repeat...

Six alternatives for dealing with the Iraqi debts
14/11/2006
Source: Translated by IRAQdirectory.com


Alternatives of Iraqi debts to Kuwait include, according to a source in the Kuwaiti cabinet session, toppling the remainder of the damages which are up to 27 billion dollars, or waiver of the remainder for the implementation of resolution 256, which could bring the amount of five billion until 2013, or set up a fund, its capital is the compensations, to help Iraq in carrying out developmental projects in return.

The sources said that the agreement includes a fourth alternative which is receiving compensation of the public sector after 2013 directly and indirectly, with the fifth alternative is the establishment of a fund for the reconstruction of Iraq, its capital is nominal from the value of the compensations lowered with the increase of development projects. The sources pointed out that the sixth alternative is in the sale of public property damages or transferred to another party.

http://www.iraqdirectory.com/DisplayNews.aspx?id=2575

Originally Posted by Wm.Knowles

If you are correct in saying that the CBI has removed one trillion dinar from
circulation in just about one week, leaving approximately 3.5 trillion outstanding, what's to prevent their taking another 3 trillion out of circulation
in the next month, thereby leaving just 500 billion in circulation?

This is a very interesting question. I would think that before the CBI could reduce the quanity of the money supply to this level market forces would come to play and make the currency too expensive. There continues to be a disageement on how much money was printed and how much is in circulation. I remember a report I think was from Chalibi that said 9 trillion was printed. How much is in circulation has been reported around 4.5 trillion. I have also read some extremely larger numbers. In any case, the position that we are watching a very aggressive effort to remove dinar from the economy is still a valid position. Regardless of how much is truly in circulation is not an issue we can control. We can continue to observe the trend and should feel good that the CBI is acting in a responsible way concerning monetary policy. Although I still feel the interventions over the last few auctions have been very dramatic if not a "panic" action. If removal of the dinar was to be monetary policy of the CBI, once they exceded the suggested currency reserves in the original SBA with the IMF they could then have begin removing excess dinar from the economy. As I have said before, I don't think they are stupid, but I do think they are inexperienced. And as I always say, the next couple of days this week are going to continue to be very interesting.

Your post are very informative.

Neno, is there anyway to bump a member to Senior without posting 100 messages? If so I think Wm.Knowles should be moved up. After all he has posted more useful information in a few post than I have in a few months of posting. What does the rest of the gang think?

OSOK

Please, Please let us invest in your country and trade with you..Please!!!!....

Korean cars for Iraq less 30% of price
14/11/2006
Source: Al-Sabah

Korean Ambassador in Baghdad Jang Jay stressed his country readiness to export new cars for Iraq less 30% of their prices and renewed Korea's strong will to open cooperation horizons in all economical and financial and commercial fields with Iraq, spokesman of Trade Ministry said.The Ambassador focused on Korean companies wish to participate in fields of oil and gas and upkeeping Iraqi factories and setting up new projects in infrastructure during a meeting with Trade Minister Dr Abdulfalah Al sudani.

http://www.iraqdirectory.com/DisplayNews.aspx?id=2565

Hmmm...I'm not understanding the translation much...I do like how they are finally linking the economy to the security situation...

Central Bank to adopt new policy to end inflations' rates
14/11/2006
Source: Al-Sabah

An official source at the Central Bank of Iraq said: the inflation in Iraqi economy which negatively effected with the security circumstances is resulting due to the show congestion in the real sector which concentrating in supplying fuel and its negative reflections on transport and communications' charges, while the other reason is belonging to the large effect for the total demand on commodities and services in economy.

http://www.iraqdirectory.com/DisplayNews.aspx?id=2566