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

New committee to supervise oil distribution
29 November 2006 (The Globe)

Kirkuk's Governor Abdul Rahman created a committee to supervise the distribution of oil and gas to the people.

According to a source in the Governor's office, the committee has already met with the oil distributor to discuss the price and lack of all oil products. Governor Rahman informed the distributors that they must follow specific rules to prevent having their licenses revoked, said the source.

New committee to supervise oil distribution | Iraq Updates

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In the newspaper:


1. Morning
The first page
1-Iran relations between Tehran and Baghdad awaiting peace, all eyes turned to the meeting between Presidents Bush and Al-Maliki and the House Committee of the National Fraternal Union

The inner pages
1-Talabani : Iranians confirmed their support for the fight against terrorism in Iraq. in a meeting with Ahmadinejad and Supreme Leader of the Islamic Republic Ali Khameini
2-Hashemi share Accord Front on the results of the meetings of the Political Council of the national security
3-Alzobai describes the results of the political talks positive
4-Anfal Court hear more from prosecution witnesses, including a revival of American
5-politicians are relying on the meeting between Presidents Bush and Maliki in Amman today, Security and the presence of foreign forces in the introduction to the themes and topics for the meeting
6-Habib Al-Sadr : the Arab media is still dealing with the issue of Iraq policy reshuffling of double standards, soon. The signing of a protocol for joint cooperation with the Egyptian media
7-Oil : the price of 350 dinars per liter of gasoline in all fuel stations in Baghdad. to curb price manipulation and exploitation of citizens

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7. Conference
The first page
One-Maliki was scheduled to depart for Amman.
2-Political Council recommends new security plan for Baghdad.
3-Jordan refuses to grant the Iraqis refugee status or temporary protection.
4-economic : The devaluation of the dollar due to low interest rates.

Iraqi Presidency

The allocation of 800 million dollars for importing oil derivatives

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29 November 2006 (Iraq Directory)
The Parliament postponed its session for some time last Wednesday, for the lack of quorum, but then it held its regular fifth session under the chairmanship of Sheikh Khaled Al-Attiyah, first deputy chairman of the Parliament.

The agenda of the meeting included: the ratification of the supplementary budget for the current year 2006, the first reading of the draft law on accession to the Convention of Wetlands (Ramsar), the completion of the second reading, discussing the Military Penal Code and the second reading of the draft Code of Military Criminal Procedure.

The Parliament had approved by majority on the proposed supplementary budget for the 2006, allocating (800) million dollars for importing oil derivatives. 113 members voted on the resolution out of the (164) members of the Council.

The Finance Committee in the Parliament had requested approval of this proposal to alleviate the suffering of citizens because of the scarcity of these derivatives, pointing out that there was negligence on the part of officials at the Oil Ministry in the field of distribution, building refineries and stop the smuggling of oil derivatives.

Originally Posted by Adster

This has to be worth a cha ching and a WOOOOOOOOOOT!?

Governor of the CBK is talking as well... Even the Governor of the Central Bank of Kurdistan is talking about it.....


LawkSalih.Com - Kurdistan Region's Central Bank director remarks on state of the dinar


The price of the Iraqi dinar will result in a drop in the dollar and euro.

The director of the Kurdistan Region's Central Bank stated that there is no plan to change the current Iraqi currency; instead, there will be trials to increase its value. "Because currently the value of the dinar is very low, people are depending more on the dollar and euro. But increasing the price of the Iraqi dinar will result in a drop in the dollar and euro," said the director.
When questioned on the recent decision of the central Iraqi government to raise government employees' salaries and whether the decision includes the Kurdistan Region or not.
The director said, "Any decision issued by the central Iraqi government will be executed in Kurdistan as well, but that will not take effect until the 2007 budget plan is implemented.
A delegation from Kurdistan Region recently visited Baghdad to attempt to solve financial issues.
Source: The Kurdish Globe

I think they are finnaly saying what we have been saying for a long time. They have to get the purchasing power of the dinar UP! This will decrease the dependence on the dollar and the euro. The ONlY way to do this is through an RV. And, 2 or 3 dinar increase per day will not do the trick! It needs to be MUCH higher. I am also not surprised that this information came from the KURDS, they seem to have lead the way on many other laws etc, HCL, FIL etc. So sit tight. Not implemented until the 2007 budget? Does that not start on December 15th? It seems SGS posted this. Is this right? Thank You.

Originally Posted by Wm.Knowles

I think they are finnaly saying what we have been saying for a long time. They have to get the purchasing power of the dinar UP! This will decrease the dependence on the dollar and the euro. The ONlY way to do this is through an RV. And, 2 or 3 dinar increase per day will not do the trick! It needs to be MUCH higher. I am also not surprised that this information came from the KURDS, they seem to have lead the way on many other laws etc, HCL, FIL etc. So sit tight. Not implemented until the 2007 budget? Does that not start on December 15th? It seems SGS posted this. Is this right? Thank You.

Thankyou for your post, so in your opinion, could we be looking before or after december 15th......

Our fight against inflation and improve the dinar rate of exchange
متابعة المواطنFollow citizen الى Iraqi Central Bank Governor Sinan Shabibi said that among the causes of inflation in Iraq is increasing cash in circulation, what required a new monetary policy aimed at improving the dollar's exchange rate towards reducing its price several points in the auction, organized by the Central Bank every day to encourage the demand for buying the dollar in order to withdraw money from circulation. Shabibi said during a meeting at the headquarters of the World, It was attended by the Directors-General and officials of private banks, He dedicated for circulation in the monetary policy and the means of cooperation between the Central Bank and All banks, "The aim of the Central Bank is currently limited in the fight against inflation, which reached about 76% and reduce the height, through the provision of better conditions for economic development and improving the performance of the banking sector and provide stability. " A banking source that the meeting dealt with numerous topics, the most important of the new policy by the Central Bank which, in addition to the daily reduction of the dollar rate of exchange, an increase in the interest rate paid to banks to invest night at the Central Bank, which amount to 15% for 14 days, and 16% for one month, as well as the auction, organized by the World Bank remittances, He pointed out that he also discussed with the issue of coordination with the World Bank and the Iraqi Ministry of Finance to make the correlation government banks like Central Bank sinks eligibility so as not to exceed their ministry and the administrative side only for the purpose of the ease of application of monetary policy set by the Central Bank. He noted the source to note the gathered from the presence of some private banks faltering what impact negatively on the rest of the banks and the payment of the Central Bank to direct governmental banks to give 10 per cent of the appropriations that have related to the implementation of reconstruction programs in Iraq to those private banks to improve their performance level. The source also Ataba p policy of the Central Bank to increase the interest rate on the investment night and day auction remittances encouraged private banks to increase interest rates on deposits, citizens have the highest rates of interest paid by the government banks to reduce the gap between the interest rates paid by the Central Bank and the interest paid by banks To achieve the kind of reassuring to the citizens, This will lead to increase in the volume of deposits in banks and the Central Bank Aidha for investment purposes and to participate in the auction money and thus reduce the amount of money in circulation, which helps to reduce the rate of inflation
جريدة المواطن العراقية

Farmer, Dr. Abdul Hassan, the Sudanese Minister of Trade, the Australian Ambassador in Baghdad and were discussed during the meeting ways to activate the economic and commercial relations between the two friendly countries.
ي.The Sudanese during the meeting the importance of seeking new ways to develop economic relations and the need for Australian companies to invest in projects for the mission carried out in Iraq in order to build the infrastructure that was destroyed by the military operations and the wrong policies adopted in the business and the economy j.

إقتصاده.He added that Iraq considered assessment of the positions of the Australian government in supporting the Iraqi people and its contribution to the multinational forces that have contributed to the editor, He also appreciates the Australian government's support for the political process in the country and also expects more positions, allowing him to build an economy.

., Adding that the two countries now seek to overcome all the difficulties that have occurred previously through a new vision based mechanisms of action with clear sadness in the contribution of Australian companies in the processing of Iraq materials that constitute the backbone of the components of the ration card that will be delivered expeditiously.

.The Australian Ambassador has included a brief explanation of the Australian government's willingness to support the Ministry of Commerce through the contribution of Australian companies in support of the ration card as well as the components of the mechanisms that are dealing with the Iraqi file, which depends on the support and entrusting the political process in Iraq and overcome problems Alma Duy adopt a new vision of credibility, transparency and exchange of ideas and views and to promote this relationship.
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MP Younadim Kana deputy chief of the economic and investment committee emphasized that the coming period would witnessing big study to improve number of decisions which share raising up within the economic actual in Iraq.

He said in a statement issued that, the committee right studying the decisions and private legality within communications and information decision besides oil, gas and banks investment decisions in addition to any field sharing in improving the national economic for the public benefits.
He concluded that, the committee has many important ideas still at the studying period which returns within the luxury and economic development for the citizens in the state.
Source: Al Sabaah
LawkSalih.Com - Big Projects for National Economic Participatation, MP Says

China balance between the risks of investing in Iran, Iraq and returning
رويترزReuters التصدير.With China's thirst for oil and gas may be risking political in Iran and security in Iraq to gain foothold in the areas of the Western feared approaching them. And Iran and Iraq possesses 19% of world oil reserves, and some of the largest untapped fields in the world. China already obtains half of its imports of oil from the Middle East, which gives a strong incentive to ensure strategic deals in the fields of oil exploration in the two neighboring states. said Ian Brown, head of a research team in the Middle East Wood McKenzie that Chinese companies operating in Iran "in the absence of a large number of competitors. have a chance to participate in the giant oil fields too. " He said Brown " When conditions become favorable in Iraq Seeks every large and small, much less access to a major share. " Iran relies heavily on oil, which represents Between 80 and 90 per cent of export earnings. و.But the financial aspects of oil production and the decline means they need more investment to keep Alantah at the current level of around four million barrels a day. If Iran needs to finance and foreign technology, but American laws prohibit American companies investing in the Islamic Republic. ن .Can Washington to impose sanctions on companies from other countries if invested more than $ 20 million annually in Iran. The reduced disagreements on contracts and bureaucratic intervention and political problems, especially infrastructure and privileges of oil companies say they are not satisfactory foreign investment to the lowest possible level. Perhaps the problem Ar Requests more complex term in the form of casualties in the daily explosions and sectarian clashes, and the escalation of violence. But Iraq has the third largest oil reserves in the world, has been prospecting for oil in only 10% of the territory. signed dozens of foreign oil companies memoranda of understanding with Iraq as a way for the commencement of Alaka coordinates with the new government in Baghdad could become the real deals until stability is achieved. and between April 2003 and June 2006 there were some 315 attacks on the power infrastructure in Iraq did not begin work actually only a small number of foreign oil companies. In an effort to ease the restrictions, which are besieged by waving Iran oil deals with China, which is huge might be willing to accept less attractive deals to secure energy supplies is not usually link between policy and investment. The Bi. F. CNN Energietechnik of the energy consulting firm in the report that in the case of the success of this strategy, "it would allow Iran to attract investments and expertise and technology is urgently needed without having to make any concessions in Moa stop domestic and political. " Before the Iraq war in 2003 and China has agreed to a deal size of $ 700 million with the government of Saddam Hussein to develop the defunct Al-Ahdab field. العملAnd being a renegotiation of this contract and the new Iraqi government is keen to conclude an agreement with the Chinese. An official of the Iraqi oil ministry, Iraq "did not stop their contacts with Iraq at any time. As more companies active at all. They operate on the ground with us and is ready to provide all kinds of assistance for the development of the oil sector . " The Chinese company is ready to underestimation of the security risks to enter the sector by other companies. He said Muhammad Zaini of the Center for Global Energy Studies in Britain, "they compete effectively with other companies to ensure access to energy resources and bear greater risks, but actually they are prepared to offer better terms." And Iraq is in the most need of investment to repair the damage to oil infrastructure as a result of the sanctions, war and looting and it is unlikely to cause an uproar on the source. The official said "it would be unwise to marginalize one. Crown time of the conclusion of the conventions at will and relations. contracts will be awarded to those capable of work
جريدة المواطن العراقية