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

Originally Posted by neno

That was to funny. One downStairs and One up, fighting on the Net. One quick Note Gang. This Beautiful Thread is really getting some Great Post, Posted. Please feel free to add your 2 dinars worth here: http://www.rolclub.com/iraqi-dinar-d...aqi-dinar.html Thanks.

you just wanted me to cry. thanks alot!
i cant do that one right now, it will take more beer, some kleenex, and time to digest.

Barham Salih confirmed that the option of failure unlikely

(Voice of Iraq) - 11-23-2006
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Barham Salih confirmed that the option is not on the failure in Iraq and calls on Europeans to extinguish debts by 100%


Brussels / long
Devic Foreign Relations Committee in the European Union, Dr. Barham Salih Deputy Prime Minister yesterday, the first Tuesday in the Belgian capital Brussels.
He said a press statement issued by the office of Dr. Barham Saleh said that the Chairman and members of the Committee welcomed the visit of the Iraqi delegation had delivered a speech Dr. Barham Salih addressed the members of the European Parliament, during which he offered an explanation of the political and security conditions and the democratic transformations taking place in Iraq.

The statement added that in the meeting, which was attended by more than 80 members of the European Parliament. Saleh said that the difficulties facing Iraq's transition to democracy large and complex : terrorism and extremism and violence, While we certainly a long way from this stage we now have an elected parliament and a legitimate and democratic government came through the ballot boxes and we now have a permanent constitution voted on by the Iraqi people. But there is the danger of escalation in security and vicious assault by agents of the former regime and non SATISFACTION addition to the challenge of armed groups outside the law. The vast majority of Iraqis reject violence and Iraqi leaders are invited to take urgent action to stop the haemorrhaging and confronting terrorists and extremists.
He said : We are determined to succeed and the preservation of democracy emerging in which Iraqis live after years of oppression and dictatorship.
Saleh added : Iraq faces terrorism on behalf of the world Therefore, we ask our friends in the international community, especially the European Union to stand by us in crossing this stage.
Stressing that the Iraqi government has a comprehensive plan and the work with the international community, through the draft International Covenant with Iraq, which we hope will be soon.
He continued, saying, "We are aware that the building of a democratic state in the heart of the Middle East is a big challenge and we are also aware that the international community will stand with us for the success of this experiment and in particular the European Union seriously, we want to develop our relations with the European Union," adding that the support provided by the European Union is the focus of our thanks and gratitude, but we hope the EU can play a greater role, we believe that these countries an important and vital role in supporting the fledgling democratic experiment.
We in the Iraqi government well aware of our responsibilities and that failure is not among the options Failure would mean catastrophe is not for Iraq but for the region and the entire world.
He asked Dr. Barham Salih from the European deployment to support the development of the debt that Iraq is quenched by 100% instead of 80% as agreed in the Paris Club.
He said that the success of the democratic project in Iraq is not the task of the United States of America, but the task of Iraqis support and entrusting the entire international community.
The members of the European Parliament Dr. Barham Salih and voiced readiness of their countries to provide the necessary support to Iraq for the success of political experience and democracy in Iraq.
The meeting was attended by Dr. Muwaffaq Rubaie national security adviser.
On the other hand, Dr. Barham Salih Tuesday in Brussels-the secretary general of NATO Jaap de Hoop at NATO headquarters.
He welcomed Hope visited Deputy Prime Minister and added that NATO continues to support the development of Iraqi security institutions through training programs and exchange of expertise necessary for the completion of the readiness of Iraqi forces.
For his part, Dr. Barham transfer greetings Prime Minister and deep gratitude to the NATO and for the support and assistance given to build the capacity of the Iraqi security forces.
The two sides will discuss how to access the best ways to enhance the preparedness of security forces and emphasized that NATO will continue Hoop training programs and seeks to visit Iraqi officials to develop a new plan of action, which would increase the volume of support to Iraq.

New fiscal policy leading to the rise in the dollar rate

(Voice of Iraq) - 11-23-2006
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New fiscal policy leading to a rise in the exchange rate of the Iraqi dinar

Baghdad / long
In an unprecedented led the Central Bank of Iraq ambitious campaign to promote the exchange rate of the Iraqi dinar according to a plan designed to absorb liquidity and the reduction of inflation rates expressed at heights and clear on the prices of goods and services.
The presentation of the Central Bank through the auction, organized by the daily buying and selling of foreign currency sums of dollars, where they were able to achieve a gradual reduction of the dollar exchange rate started from 1470 dinars to the dollar to reach the price at the meeting yesterday transactions related to 1444.

Al (short) from official sources in the Central Bank, said that this policy would continue to thrive and become the Iraqi dinar currency of choice in daily dealings. With those sources expressed its confidence in achieving this policy even finishing off phenomenon (dollarization). (BUT WHAT ABOUT WHEN THE DINAR DRIES UP.......HOPEFULLY WITH THE AUCTION TONIGHT) WOOOOOOOOOOOOOT
The financial sources noted that government agencies, companies and several parties overestimated the adoption of the dollar currency dealings content in the market, including played an influential role in the exacerbation of the situation inflationary and this policy comes in the wake of several warnings by the Central Bank pointed to the escalation of the situation to the inflationary rate of 76.6% during the month of August last year compared with August 2005. it depends on the impact of an interest rate increase granted by the pointing of 6 to 12%. With the bank issuing of the bonds amounted to Release hundred billion dinars rewarding benefits are paid through the 182 days, But the reluctance of banks to respond to civil actions that carry the Central Bank to adopt a policy to strengthen the exchange ambition and confirmed in a statement pursuit and determined action to reduce the inflationary situation at various levels.
On the other hand, currency exchange market witnessed weak demand for the dollar and other foreign currencies, including advances of the price of the Iraqi dinar prelude to potential Anaaksh on the prices of commodities and services in the local market.

Originally Posted by warrior44

SGS first of all i love all of your post and loads and loads of info you pour into this form, with that said could you please break this down per the translation.
1000 dinar = $1.00???????????????

Please help!

thats not what i read at all. they are talking about introducing new denominations and justifying why they are needed. if 1,000 dinar was the same as a dollar they wouldnt need smaller denominations, the ones they have now would work. what they are saying is there will need to be new denominations in order to set the rate of the dinar where they want it, par with the dollar. par not necessarily meaning 'exactly equal to', but 'used in the same way as'.

Originally Posted by shotgunsusie

thats not what i read at all. they are talking about introducing new denominations and justifying why they are needed. if 1,000 dinar was the same as a dollar they wouldnt need smaller denominations, the ones they have now would work. what they are saying is there will need to be new denominations in order to set the rate of the dinar where they want it, par with the dollar. par not necessarily meaning 'exactly equal to', but 'used in the same way as'.

Right on Susie! They would actually need a 50,000 and 100,000 dinar note (since I read somewhere that the 50 dollar bill is the new twenty since it now takes 50 to buy what 20 used to...)

Reuters
Nov 22 2006 21:29

By Irwin Arieff

UNITED NATIONS, Nov 22 (Reuters) - Iraq has decided to keep alive for another year a U.N. watchdog to monitor the use of its oil wealth, reversing course just weeks after announcing the agency would be abolished, officials said on Wednesday.

The decision to resuscitate the International Advisory and Monitoring Board was made at the request of governments donating money to Iraqi reconstruction, said Baghdad's deputy U.N. ambassador, Feisal Amin al-Istrabadi.

"I am very well aware an agreement is in place to replace it. But the IAMB has certainly played a useful role up until now, and some of the donor countries think it could still play a useful role," al-Istrabadi told Reuters.

Iraqi officials had informed the IAMB just three weeks ago that it would be abolished as of the end of this year and replaced with an Iraqi monitoring body to be called the Committee of Financial Experts.

IAMB members were therefore astonished to see a draft U.N. Security Council resolution circulated this week extending the board's life through Dec. 31, 2007.

They concluded that the provision, part of a U.S.-drafted text extending the mandate of the U.S.-led multinational force in Iraq until the end of 2007, had been included in error.

"There was a slip by the Iraqis," said one board member, speaking on condition of anonymity. "We clearly would prefer to work with a successor body."

SABOTAGE AND CORRUPTION

But it was not a mistake, U.S. and Iraqi officials said. A vote on the resolution is expected next week.

Oil is Iraq's main source of hard currency needed to rebuild after years of war, and the energy sector is struggling to recover from years of mismanagement and U.N. sanctions that were lifted after the U.S.-led 2003 invasion.

The IAMB was created by the Security Council in 2003 to watch over the stewardship of Iraq's natural resources while Baghdad was under U.S. administration.

The new government then allowed it to remain in place through the end of 2006, to reassure world governments it was managing its vast oil reserves wisely and for the benefit of the Iraqi people.

Iraq's oil sector has been plagued by sabotage and poor maintenance.

The IAMB made clear it also suffers from mismanagement that has left the door open to smuggling and corruption.

The board reported in August, based on an outside audit, that Iraq's systems for tracking oil sales and the use of the proceeds from those sales suffered from poor management, flawed accounting systems and weak internal controls.

The board has also criticized Iraqi delays in installing equipment to meter oil production, so that production and sales figures can be reconciled to guard against smuggling.

Corruption in the energy industry has cost Iraq hundreds of millions of dollars, the general inspector of the Ministry of Oil has previously estimated.

IRAQ | Log In

Reuters
Nov 22 2006 21:27

WASHINGTON, Nov 22 (Reuters) - U.S. Vice President Dick Cheney will travel to Saudi Arabia on Friday for a meeting with King Abdullah to discuss issues of "mutual interest" in the Middle East, Cheney's office said.

Their talks come as the White House weighs a shift in strategy on Iraq amid raging violence there and after huge losses for President George W. Bush's Republican Party in U.S. elections dominated by voter frustration over his war policy.

Bush will go to Jordan, another U.S. ally in the Middle East, next week for a meeting with Iraqi Prime Minister Nuri al-Maliki on how to speed up the transfer of security responsibilities from U.S. forces to the Baghdad government.

Cheney's talks in Saudi Arabia also are likely to encompass Washington's anxiety about stability and democracy in Lebanon after the assassination this week of cabinet minister Pierre Gemayel, an outspoken critic of Syria.

The killing plunged the Western-backed government of Lebanese Prime Minister Fouad Siniora deeper into crisis and spurred fears of factional violence.

Keywords: MIDEAST CHENEY

The World Bank has been invited to open an office in the Kurdish regional capital of Irbil, according to the Patriotic Union of Kurdistan's website on November 20. According to informed sources, the World Bank has carried out a needs assessment in the region in an attempt to provide aid to the Kurdish regional government as part of its Iraq aid program. Furthermore, Kurdish officials have called on the bank to deal directly with local authorities, without consulting with the central government. The Kurdish regional minister for planning, Uthman Isma'il Husayn Shwani, said that he has had direct discussions with World Bank representatives who have expressed their desire to cooperate with the regional government. "We have asked the World Bank delegation to help us with empowerment programs for the regional government functionaries and the establishment of development sectors in the field of water and electricity. We also called for the opening of a World Bank office in Irbil," he said. SS

RADIO FREE EUROPE/ RADIO LIBERTY

Originally Posted by WebGuy75903

This is how I read it:



That line is simply a CYA statement, and it can refer to any number of things. You could read that to mean something negative (reprint), or something of no consequence. Look at America's currency, for example. The U.S. Mint released new versions of the $10 bill, $20 bill, $50 bill, and $100 bill. That was a change to our currency, plain and simple. But what happened to it's value, or even to the old ones? Absolutely nothing. Personally, I would not let the above statement cause too much worry. There are too many unknown factors to worry about, and it doesn't seem like it's even an issue being looked, according to the spokesman.



I think it's been pretty much agreed to by the masses here that the above statement simply translates as follows: New Categories = Lower Denominations. That's all I've ever read it to mean. So again, nothing to worry about.

I could be wrong, so I hope someone will correct any inaccuracies with my post. This is simply the way I see things, and how I have interpreted the above...

wasent it pointed out a while back that the word catagories can be a translation for the arabic word which can also be translated denominations?? I think we very well may be looking at them talking about denominations instead of categories.

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22/11/2006

The cancellation of the deal for the purchase of unconventional oil Black

Oil Minister, Dr. Hussein Shahrastani told (morning) : The ministry had prepared a plan to combat financial and administrative corruption is rife in the ministry of the considerable resources that have percolated to the game was corrupt and the most important smuggling oil derivatives.
Shahrastani and explained that the ministry had revealed the sale of oil products from the Baiji refinery and the conversion of an exaggeration to terrorist elements to carry out sabotage, adding that it had been referred responsible for this process to fruition.
He added that the ministry canceled a contract with an international company for violating legal controls on contract for the purchase of petroleum Black pointed out that a number of associate concluded this decade in local currencies in violation of the instructions because the contracts for the sale of Iraqi oil black with international companies sold according to world prices is not a the prices of the local.
The minister emphasized that the ministry is fighting financial and administrative corruption in all joints, and the evidence that the ministry had been dismissed a number of staff and squatters on the public's right to the ministry, many of them referring to the investigative and judicial bodies, stressing that any employee trying to manipulate the Iraqi funds will be forwarded to the investigation and the judiciary.
On the other hand, the Ministry of oil that Iraqi crude oil production from the southern and northern borders of two million, six hundred thousand barrels a day and that the volume of Iraqi exports amounted to about one million, six hundred thousand barrels daily from the southern ports only by the continued suspension of the export operations through the Turkish port of Ceyhan because of the work lei sabotage.
Morning