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

Originally Posted by boomcreek

Also, not enough for them to begin paying down the debts that they are still responsible for. A higher revalue is the only way that is possible.

There won't be debt if they wait it out long enough for forgiveness.

Originally Posted by choochie

pppffffffftt =

Picture says it all. Thanks Choochie

I have reread that article many times and it sounds like they are disputing the lop theory and that one sentence( He refused to disclose whether there were any similar intention in the near future, after the Financial experts recommended deleting three zeroes from the Iraqi dinar after the American dollar to her and about a thousand dinars) he's just using the old reprint article as an example. But you could also read it as saying they will increase by 1000 which would make the dinar worth .447 which rounds up to .45. I am so confused, I wish another article would come out that translated differently.
I need a drink.lol

Originally Posted by Inscrutable

Banks care not about people or poverty, they care about money.

If what I envisage is to come true I'm sure it is only a temporary solution because we all know what the true worth of Iraq is.
However, they are trying to curb inflation and increase the purchasing power which at 1000:1 would be a start, then as the inflation is lowered and investment is open they continue adjustment more accordingly.

I enjoy your news post very much CP and I know that you are a very smart person but I can't understand why you wouldn't see 30%+ as a substantial increase.

Okay, I agree banks don't need to care about people or poverty....let's go another route....banks do care about foreign investors, big business and the world financial gravy train so to speak. Pennies, nickles, dimes, and quarters (examples of course) are not enticing to big business.

The Central Bank of Iraq denies change dinar early next year
Safed Alsamuk-Baghdad

The Iraqi Central Bank denied that the change of the local currency within the current Iraqi actions he intends to begin work so as to meet the economic inflation in Iraq with the beginning of the year 2007. The official spokesman said told ((today)) announced yesterday that there is no intention to change the Iraqi dinar at the moment,

He refused to disclose whether there were any similar intention in the near future, after

the Financial experts recommended (past tense)deleting three zeroes from the Iraqi dinar after the American dollar to her and about a thousand dinars.

The spokesman noted that the launching of the issuance of new categories of the Iraqi currency into circulation depends on the requirements of the Iraqi economy to meet the expenses of the state in the coming stage, especially local supervision of the banking activity by the central bank and means of reform,

The Central Bank supervises the banking activity level by 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. He continued to say «The Central Bank has 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. He pointed out that this step is the beginning of cooperation and openness to the world towards the revitalization of the economy in Iraq.

The Central Bank of Iraq still continue to sell the dollar against the Iraqi dinar through auction, which will be mounted when the daily, adding that this auction is a tool to achieve stability in the value of the Iraqi dinar by defending the exchange rate stable for a long time.

This, in turn, will affect the general level of prices. For his part, Minister of Finance, the Iraqi statement Jabr said the decision to increase the salaries of the staff work will start with the beginning of the year 2007. at a time when observers are worried economists Iraqis of the dangers of increasing inflation by successive increases for staff salaries to cope with price rises of living without MySQL economic problems,

He pointed out that he would start in the top five of the (10 - 5) and that at the beginning of next year will get the owners of these degrees on the increase of 50-70%.

I just read this and the following 10 pages of posts about it ......what a wonderful post, this puts some of my fears to rest. seems the part that i bolded above is what is in question. What i think they did was pull that part from the older atricle that was saying to drop zeros. So in my opinion this was an example of what they will not be doing ...

the red still bothers me a bit

Originally Posted by H2O_Lover

I just read this and the following 10 pages of posts about it ......what a wonderful this is it puts some of my fears to rest. seems the part that i bolded above is what is in question. What i think did was pull that part from the older atricle that was saying to drop zeros. So in my opinion this was an example of what they will not be doing ...

the red still bothers me a bit

Nice point....we have to remember that a phrase, word, or letter sometimes gets lost in translation and can make a seemingly simple article very confusing and disputable.

I believe that at the current rate of 1,444 dinars it means $ 1.44.

The RV is here, right here......right in front of you.

And if not we will have to wait and see

In my opinion, a low reval is not reasonable for the Iraqi people. They have oil that the world needs so they are going to need to catch up to the world in technology fast. They need banks, hospitals, schools, power plants, markets, ect,ect. If they reval low it will take years for them to get caught up and on board with the rest of the world. With a high reval they can import equipment at a much faster rate. If the Iraqi banks are worried about how much money they will lose at a high rate initially, they need to think about how much they are going to gain from the world when all these countries start investing into their country. Businesses will have the capital to expand their business bringing in more cash (which ends up in the banks). With a high reval more jobs are created, people get paid (which ends up in the bank).

Improving the infrastructure of the Dokan and Derbandikhan and implementation

(Voice of Iraq) - 11-22-2006
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Improving the infrastructure of the Dokan and Derbandikhan and implementation of the seven dams submersible

Mystic Tahir / daughter Rafidain

Completion rates advanced work to improve infrastructure in the Dokan and Derbandikhan and implementation of seven submersible embankments to prevent erosion This came in a press release issued by the Council of Ministers / Secretariat, which received a copy of the Rafidain Bent said :

The Ministry of Water Resources carried out a number of vital projects in the Kurdistan region, such is the infrastructure for the start of the future in the implementation of service projects, , which is considered a service and provide many benefits to a number of areas. The Directorate of dams and reservoirs in the ministry to implement infrastructure Bekhme bridge in the city of Irbil, starting from the completion of the investigations and field studies of the dam and the surrounding areas, through the construction of a residential complex near the dam for the housing staff and engineers working on the administration, in order to implement all the vital services of potable water, electricity and road traffic. The Directorate also implemented infrastructure works Komsban proposed bridge in the city of Irbil, Such actions include the establishment of a residential complex of 15 houses for workers on the management of the dam, as well as the completion of the necessary studies and investigations in the region. The resident engineer in the Resident Engineer of the role of the park and the residential compounds of the Directorate of dams and reservoirs in the Ministry of Water Resources Kazim ensure that the work of improving the infrastructure Dokan dam is ongoing where are expected to be completed shortly of a residential building at 15 homes to house staff to manage the dam, as well as building a home for the rest of the site and project management, He pointed out that the total cost of these projects amounted to more than five billion Iraqi dinars. The ministry has also implemented similar projects in the Darbandikhan dam and the same total cost of Macedonia ago. And in relation to the efforts of Alkward art in the revival of the draft (Alkhariz) in the Qarah Hammarskjöld, in collaboration with the Directorate of Water Resources Studies in Kurdistan.

Almshahadani African security team seeks to protect members of Parliament

(Voice of Iraq) - 11-22-2006
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Almshahadani African security team seeks to protect members of Parliament


2006.11.22

PUKmedia :

Announced by the Speaker of the Iraqi Parliament Mahmoud Almshahadani on Wednesday 22 / 11 that the security specialist from South Africa will take it upon themselves to protect the President and the members of the Iraqi parliament.

He added Almshahadani at today's meeting of the House of Representatives : he had been arrested a number of suspects against the background of the explosions which occurred near the House of the Iraqi Khazara region and that there is a clear thread reached through these people and we will be able to quickly access to the operator and to the way the shell of the region.