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

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

Kurdistan: Kurdistan Region's Central Bank director remarks on state of the dinar
Posted on Tuesday, November 28 @ 16:07:16 PST
Topic: Kurdistan
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

Question? -----> When are they Implementing the 2007 Budget PLAN?
Like a PLAN date is before the Implementation of the actual "Budget"? Correct or "NO"?
What date, then?

I think this starts the reverse trend.
The CBI stopped selling dinar and was only buying but today began re-selling.
The announcement that they are again ready to buy dollars means they will be selling dinar.

Now that the CBI has reclaimed 1.2 trillion dinar the reverse starts and the CBI will start to sell dinar again but continue lowering the rate gradually and at the same time chunking out inflation.

December 15th?

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.

The plan is the key, implementation follows?

Originally Posted by Dinar Duchess

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

I think most of you guys know me by now. I always hesitate to make predictions. After having been in the securities business my crystal ball has had its ass kicked more than once when I began to think I could see the future. I have been humbled in my life toooo many times. But with that being said, and after tracking this issue for a couple of years, and seeing the economic fundamentals, I think they have to get the purchasing power up and their recent actions (CBI) seem to be saying the same thing. I think the time is close at hand. Of course Xmas would be a good date and I know it would work for all of us. 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.

Agreed WM. The Kurds lead the way, always have. IF we'd had a Kurdish government we'd all be sitting on the beach with a cold one.

Anyway, yes, correct the new budget starts 15 December so a reval should be in place before then.

Thanks.

Disclaimer, I used the word 'should' be in place by then. LOL.

I think it all depends on what the need is at that time; it might be just to cover a small deal or a bank transfer, but then maybe now and the reverse is the "2007 Budget Plan" Implementation Date!

Originally Posted by Inscrutable

I think this starts the reverse trend.
The CBI stopped selling dinar and was only buying but today began re-selling.
The announcement that they are again ready to buy dollars means they will be selling dinar.

Now that the CBI has reclaimed 1.2 trillion dinar the reverse starts and the CBI will start to sell dinar again but continue lowering the rate gradually and at the same time chunking out inflation.

Originally Posted by motomachi

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

Kurdistan: Kurdistan Region's Central Bank director remarks on state of the dinar
Posted on Tuesday, November 28 @ 16:07:16 PST
Topic: Kurdistan
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

Question? -----> When are they Implementing the 2007 Budget PLAN?
Like a PLAN date is before the Implementation of the actual "Budget"? Correct or "NO"?
What date, then?

15/12 Al. Fits in nicely with the IC and the long awaited fil and oil law.....hhmmm.........

I got a question. Now the CBI is going to be putting dinar back in circulation by buying back the US dollar. I thought we decided they were taking dinar out of circulation the past month. I don't get it?

Yes, yes, YES!!! I like that! That word!

Originally Posted by Adster

Agreed WM. The Kurds lead the way, always have. IF we'd had a Kurdish government we'd all be sitting on the beach with a cold one.

Anyway, yes, correct the new budget starts 15 December so a reval should be in place before then.

Thanks.

Before then, like December ?
Before the mid-portion, yes! Yes! YES!

Originally Posted by Adster

15/12 Al. Fits in nicely with the IC and the long awaited fil and oil law.....hhmmm.........

Exactly. I think we will get the whole package at once.

By mid-december this thing must be done. With all the outcoming economic articles and information it all points out that we must be very close and I think at the latest mid-december.