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

Originally Posted by $onedaysoon$

A new policy of the Central Bank of Iraq to support the dinar and address of the dollar

صفد الساموك - بغدادSafed Alsamuk-Baghdad
An official of the Iraqi Central Bank : «The annual rates of inflation reached high levels exceeded 50% and in spite of the positive developments shown by the index for consumer prices as an indicator of inflation during September last, which was low by 13% but the inflation rate is still high base level of not less than 33%.
The Bank said in a press release yesterday that «inflation in the Iraqi economy, which negatively affected the security conditions resulting from the two sources of supply bottlenecks in the real sector, which is concentrated in the processing of fuel and its negative effects on the costs of transportation, communication and other production costs The other reason is attributable to the significant influence t aggregate demand for goods and services ».
He pointed out that the Central Bank of Iraq will «a new monetary policy aimed at reducing inflation by improving the base rate of the Iraqi dinar and raise purchasing power and make it more attractive means cash, which reflects the circumstances and encouraging indicators in the economy which would help in addressing the phenomenon of dealing dollar Alamirk j, which is one of the means unwanted in the work of monetary policy and the level of effectiveness to achieve their goals in reducing inflation ». In terms of improving the Iraqi economy, said an official source at the Ministry of Finance : The meeting of the preparations for the Iraq International held the day before yesterday in the United Nations headquarters in New York with the participation of the Iraqi government and the mission of the United Nations and with the backing of the World Bank.
The source said that the aim of this gathering returning Iraq to its natural position in the international community and create a dynamic firm in unifying consensus through the completion of the national vision on the government's political program and restore the confidence of the people of the ability of government to protect them and provide for the basic needs them ... The contract will establish the foundation work of mutual commitment and the political need to continue in the development of the economy through the material and political support and technical challenges to be level », as he said.

Translated version of http://www.alyaum.com/issue/page.php?IN=12207&P=15

oneday, what's the date of this article?

Originally Posted by PlatanoKing

Here is another opinion posted by Mr. Ali Mahmoud al-Fakiki in this Beirut; Lebanon English website: Dar Al Hayat

Relax….Dr. Sinan Al-Shibibi is the only opinion that really counts and that is IMO

Exactly,

A self proclaimed expert I see. LOL This is the statement which really struck me as to how expert he is. LOL Sorry, can't stop laughing. Number 2 was a real eye opener.
<
2 - Lowering the inflation rate to 2-3%, compared to the current 20-30%, most of which is due to inflation resulting from high prices
>

Brilliant economist for sure.

Good luck to all, Mike

Originally Posted by kiko

oneday, what's the date of this article?

I get 11/26/06 thru Google translation.

If the rate dropped to 1,000 IQD to 1USD.. it is a 34% increase in value... but a double digit increase in inflation and two points on the lending rate ??? no way... you would slide into a depression and never get out, especially if you opened the doors for business, for the internantional community. Iraq is for sale then... what a bad opinion piece...

sheeeshhh..
:(

For those who are interested in Capital Hill rumors... there has been talk about "when is Maliki up for re-election ??" ... but I could't imagine who you would replace him with...

This is from an interview with Rice. Just nice to read. Dated from 6/11/2006.

QUESTION: Do you think that Prime Minister Maliki is doing what he should do to stop it or do you think he's beholden to those militias?

SECRETARY RICE: There is a lot of instability and violence in Iraq. We can all see that. There is also a political process in Iraq that has been building over the last three years to give the Iraqis institutions to deal with their differences by compromising politics rather than by violence. That's harder to show. So while it was easier to show that those people were out voting, you had a constitutional process you could see those milestones. But the milestones that are harder to see I think Americans should know are going forward.

The Iraqis are going to have a hydrocarbon law which talks about how they will divide the revenues from their most important resource: oil. Oil could be a source of political instability or it could be a source of political unity. And I believe this hydrocarbon law will be a source of political unity.

QUESTION: Well, picking up on that, there is an increasing chorus of people saying we ought to divide Iraq. We ought to have a three-way partition in oil to be equally distributed between those three partitions. Is that a feasible approach?

SECRETARY RICE: Probably most of them are not Iraqis who were saying that. Iraqis want to have one country because they know that not only is it difficult and probably even less stabilizing to have three parts, but what are you going to do with a mixed city like Mosul or a mixed city like Baghdad or very mixed areas in which tribes are both Sunni and Shia? You know, this is a place where the social fabric is actually pretty integrated. You'll talk to an Iraqi and he'll say my wife is a Shia. So where do they belong? In what part of the partition do they belong? That's why Iraqis are working toward a unity government.

Now to be sure, it's difficult. And to answer your question about Prime Minister Maliki, he is I think a devoted patriot, a good man. He has a tough political coalition around him that he's always trying to respond to. And we have said, in no uncertain terms to the Iraqis, that they're going to have to make these difficult political decisions, overcome their political differences so that the sectarian violence has no political basis.

QUESTION: But within the context of one Iraq, you do think there's some kind of oil distribution?

SECRETARY RICE: I think that you will see that there will be -- I don't think it will be a distribution so much among the groups, but rather they are not going to have such a centralized system with the use of that resource. And that's probably a good thing because we do know also that a centralized system around oil tends to produce corruption, tends to produce (inaudible) where you have booms and busts in budgeting because the resource is held centrally. So I think they'll actually come up with a system that may be superior to many that are used in the Middle East.

Scoop: Rice Interview With Al Hunt of Bloomberg TV


She believes that the hydrocarbon law will be a source of political unity. Then I believe it too.

Or Rice is as much as needed coming to Baghdad to kick some *ss to make it work!

Originally Posted by panhead

Ok.....gotta ask......what is your guesstimate for the RV?
I'm still thinking 1.48 IMO.

$1.23 Eruo, just remember this is not confirmed, I'm still checking. Hoping by the end of Monday to have more Info from my source, who is low level banking in Iraq. Please!!! No Pm's

Thanks, gloribee

Economists and academics warned Iraqis of the consequences of the growing problem in Iraq about inflation rates but extremely dangerous and scary as they hit during the month of August last 76%, which economists Iraqis seen as representing the major illnesses. This comes due to suspension of most of the productive sectors and the continuing fuel crisis in addition to plenty of cash flow. Economists and interested in this area emphasize the importance of moving the process of comprehensive economic reform, because inflation is one of the reasons behind the Iraqi economy and faltering considering that not a cure for inflation only through the processing and activation of all productive sectors, whether industrial or agricultural or service. Therefore, the activation of these sectors is one of the solutions to the problem of inflation, which began an excessive burden on the Iraqi citizens and Iraqi family and the diminution of well-being and prosperity of society. Dr. Ali Baban, the Iraqi Minister of Planning said : (The figures for the case of serious inflation is a state of ill Iraqi economy and the deterioration of the situation in the productive sectors should be addressed as soon as) saying : (It is not a cure for inflation only improvement in the Iraqi economy and the overall improvement of productive sectors and to address the problems that face). continues : (Inflation is not caused by one single factor, but it is an indicator of poor Iraqi economy a whole. If the state of the economy should not be a virile inflation and inflation if it is limited).
He added : Papan (I hope that everyone of inflation seen from the perspective of a holistic sense to look at through the reality of the economy and not by the fact that monetary policy only monitors the amount of money and the money supply, interest rates and credit policy, etc.) explaining : (monetary policy that inhabit disease and Ataaljeh When we discount rate or Nkhfedah follow the policy of strict or lenient credit, we will try calming the disease and Anaaljeh. and the disease is in the productive sectors and the state of the economy in general and if the productive sectors remained unchanged do not expect a decrease in the course of Altdkh m or decline it. If evolved these sectors and recovering agricultural sector and the industrial and service when it begins to revolve the wheel of economy and inflation will retreat. ( The Papan to : (The credit policy will play an important role in the treatment of inflation and this issue must be known to all, We do not expect that the Central Bank reduced rates when credit or picks will succeed in controlling the phenomenon of inflation problem is not confined to the private credit and Avi issue of balance between the quantity of money and money supply, but only in the productive sectors, In the Iraqi productivity. This is the other dimension of the issue, the productivity of "individual" back Therefore, the unemployment closely related to inflation). For his part, Dr. Kamal Basri, undersecretary of the Ministry of Finance and head of the Iraqi Center for Economic Reform : (a phenomenon that "inflation" came out of an abundance of liquidity in the cash with the scarcity of the goods and services. The abundance of liquidity in the cash came from this year's budget allocated amounts of cash many of the salaries and wages increased about 90% from what it was last year ... This pumping major financial market. while the goods and services in the market b Jae less for a variety of reasons, including security and why this factor making markets confused, in addition to the transit of goods from the border outlets became very agitated because of the security factor as well). He adds : (Also, the lack of fuel contributed to the reduction of existing goods in the local market. in addition to an abundance of cash to the individuals caused a rise in the prices of the deal, we believe that the security situation is essential for each case).
He stressed the work to encourage the State to end the monopoly of the Ministry of Oil import and sale of oil derivatives, and need to give space to the private sector to fill the existing gap. )...He stressed the need for the optical link the issue of reforming the state oil derivatives in a series of actions : (It is not enough to make the step and leave the remaining steps) ..The prices of oil derivatives, reform is necessary and correct, but must be accompanied by an integrated program to protect the poor ... (We also need to support the services of water, electricity, transportation and others, Without this reform be extracted and integrated and affect the economic well-being of citizens). Basri said : (What is the percentage of high inflation is frightening, Therefore it has become necessary for the State to the linking production spending. If the conditions the same, I believe that the inflation rate in the next month would be high). As Abdullah Albandar member of the Iraqi Center Director in the Economic and Finance Ministry, indicated that the inflation rate reached last August, 76%, a figure that seriously The ratio of inflation between the seventh and eighth month last by fluctuating between 26-20% and this is very dangerous, if the rate of inflation without a high rates of economic growth, this would constitute a problem. The appearance of Dr. Mohamed Saleh, director general of the Economic Iraqi Central Bank has pointed out : (The three elements in the Iraqi economy, inflation is at the center rents have risen to the rate of inflation up to 41%. food rose in July to 23% and the fuel is also up to 19% and the rest ratios are 14%.
Saleh said : (Iraqi economy suffers from a structural imbalance due to the domination of the oil sector and some other sectors. The essential point that the draft reform of the State generate vibrations on the old traditions (the support), as everyone knows, the direct and indirect constitute 80% of national income in Iraq, this strange phenomenon in the world ... Therefore, any response to this support generates Thus imbalances In my opinion, would not be a solution to this matter but to solve the problem of unemployment and build the priority projects that could absorb unemployment and generate economic activity and housing projects which they constitute 20% of the labor force Iraqi). He adds : (Under these circumstances, if control of the prices of oil derivatives has been working on ration cards for a certain period of a couple of distribution then the market would be reassured by much of this to be a growth and some monetary reforms to control the money supply that accompany inflation).
أكدت أنها مازالت تعكف على بحث جميع الخيارات المتاحة للإدراجShe added that she is still bent on considering all the options available for inclusion
Translated version of http://www.baghdad-newspaper.com/ar/06/m11/8/p5.html

Originally Posted by panhead

Ok.....gotta ask......what is your guesstimate for the RV?
I'm still thinking 1.48 IMO.

BREAK her heart? This is probably the best healing there is - when your pulse beats faster it's a cardio-work-out!!! (ok, forget about the stress hormones at work and just SMILE). I've been thinkin' no less than $1.68 and maybe as high as $2.32 - I don't know how I know this...same way as I can always "guess" within about 49 cents what the grocery total in the basket is...freaky, huh? I'll take $1.47, but I really also think it'll be higher!

Originally Posted by kiko

oneday, what's the date of this article?

this month, unable to find date

Originally Posted by Gloribee

$1.23 Eruo, just remember this is not confirmed, I'm still checking. Hoping by the end of Monday to have more Info from my source, who is low level banking in Iraq. Please!!! No Pm's

Thanks, gloribee

Works for me!!!!!!....please keep us posted!