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

Sorry lads you are right,
Sometimes my fingers are two steps ahead of my intent :)

Sorry but this is the same math mistake that has been made so often when talking about the 1470 to $1.47 relationship. You not only moved the decimal point but you also switched the units.

Moving the decimal point only would give us 1.345 IQD = 1 USD or 1 IQD = $0.74
Quote:
I thought the 1345 was a target projection by the IMF- don't think the CBI ever stated this was their goal,

Originally Posted by bluezzguy

Still wondering when and if the tightening of the amount in circulation willl affect the supply here in the US.. Ordered 4M from Chase yesterday with no problem..

Randy

Thank you for your interest. When will the CBIs policy of not selling dinar effect the supply in the US. That will depend on how much Chase had on hand when this started. Also, we might not like to think about it, but there are people who will have sold their dinar. They (I know 2) may find themselves overextended, maybe broke. These individuals will probably not come up on rolclub and announce this. So it is reasonable that Chase is not only selling dinar, but they have bought it also. They will in turn have made a spread and will have dinar to sell to others. Old eceonomic law, behavior changes at different price levels. So some will/have sold cheaply. Thank You

Minister of civil society receives a delegation jurists from Germany

(Voice of Iraq) - 02-12-2006
This issue was sent to a friend

Minister of Territory for civil society George Mansour, in his office in Arbil, a delegation from the (International Center for Human Rights in response), a German center, consisted of the Director General of the Abu Bakr Saidam Information Section Official Bakr Shuani and Director of the Office of Irbil Branch Umid fence.

The parties will discuss on the ways and means of cooperation between them in order to develop the civil society in Kurdistan in all its components and stripes.

During the meeting, minister gave Mansour light on the draft ministry regarding the establishment of the Institute of civil society and its efforts to benefit from international expertise in support of this project. And in turn, the visiting delegation readiness and support for the pilot project through a formal invitation for a visit by a delegation from the Ministry of Territory for civil society for the purpose of exchanging experiences and the creation and development of local skills in this area. And also asked the delegation to identify priorities required support in the ministry's program.

In conclusion, he thanked the minister ready to cooperate serve to accelerate the building of a civil society in Kurdistan and submitted a copy of the draft proposed Institute founded in Kurdistan. The meeting was attended by the minister's office florins Korkis and Paul Ruud.


Ministry of Region / Civil Society Affairs
Kurdistan - political instability.
PHONE : 256 1137

جريدة المواطن العراقية

The Presidency ratified the Law for the Promotion of Investment
Baghdad-up to the citizen
The Presidency Council approved on Friday the Investment Law. , which aims to encourage investments and the transfer of modern technologies, in order to contribute to the development of the country. and expand its productive base and service and diversification. The law, , which was based on a draft approved by the House of Representatives, to encourage the Iraqi private sector and foreign investment in the country, through the provision of the necessary facilities for the establishment of investment projects. strengthening the competitiveness of enterprises. the law also aims to develop human resources according to market requirements, and providing job opportunities for the Iraqis. and work on the protection of human and property investors, and the expansion of exports, and strengthening the balance of payments, The trade balance for Iraq. The new law grants special body, named the National Association of Investment, the task of drawing investment policies, and it controls, application instructions and control in the area of investment, in addition to its focus on strategic investment projects with the federal nature exclusively. The event, moderated by the National Authority for the investment board, consisting of nine members with expertise and competence, in addition to representatives in the regions and provinces, to be located in the capital, Baghdad. the law exempted from the provisions of investment in the fields of mining and oil and gas production. , as well as in the sectors of banks and insurance companies. " while all areas of investment will be subject to the other provisions of this Act. According to reports, it is expected that the investor enjoys all the privileges and facilities and guarantees, and subject to the obligations contained in the Act. The law allows investors to take the capital introduced to Iraq and dividends, in accordance with the provisions of this law and the instructions of the Central Bank of Iraq, The convertible currency after payment of all debts and obligations to the Iraqi government and all other quarters. The law also gives the right of the Iraqi and foreign investor in the field of housing, determined to keep the land in return between him and the owner of the land, away from the speculation, and according to rules set by the National Authority for Investment, and with the consent of the Council of Ministers. It will also facilitate the process of allocating land for housing projects, The ownership of housing units for the Iraqis. after the completion of the project

Event : Economic inflation also in the trip (2 - 2)
Hossam Alsamuk As we resume trip up the Central Bank to meet its ambitious aim of the inflationary situation and the dimensions of the Holocaust. pause for a second time in rewarding the painstaking and expensive at the same time to promote the exchange rate of the Iraqi dinar and Nahms in the ears of Messrs. involved in the management of this confrontation bold extent of the potential of such policies to curb inflation already. Based not only questioned the effectiveness of the actions adopted, but in an attempt to extrapolate ability alone to get to what it wants. It is axiomatic that achieves a Central Bank to support the interest rate on bank deposits, by way in determining the liquidity and flows indiscriminate fever within existing spending, But with the prior conviction that the real cause of inflation in Iraq is not limited cash flows as it is understood al-conscious about the escalation of prices of goods and services, including some of the specialists called commodity inflation, and confidently say : specialists believe that the supervisors of the campaign by the Central Bank share, Proceeding from the reality of the existing chaos of transactions, but lack of confidence in the local banking operations, as is happening, Those measures could not achieve its objectives in full and that these goals were not being met only a modest part of the containment of liquidity flows ahead. However, we go watch the escalating price of the Iraqi dinar against the dollar, although it will face the phenomenon (Dollar), which identify Bhthagh a CBE, we believe that it is not the effectiveness of the same content in its quest to bring the parties Ptdaulat prices of goods and services to achieve real reductions and equitable commensurate with the reduction achieved in the dollar exchange rate. Why? because of such attitudes characterized by opportunistic parties can not retreat in prices and reconsider the automatic except in cases Tljeha impelled Among those cases Kissed stagnant demand at the expense of supply but the diagnosis of some of the specialists that the state of inflation but is an expression of inflationary recession as soon as the Central Bank holds an action - perhaps - more assertive and coercive in the formulation of a number of binding mechanisms, how could exceed contexts of the influential elements in the escalation of inflation and accountability in the public interest, but prosecution, - in some cases - in line with the imperatives that obtain, get to the requirements imposed by the existing natural conditions. That set of procedures that are not inconsistent with the principle of a market economy as much as meet the gravity Anciabith, can we believe that the policy of the monetary authority to strengthen as possible to meet the interests of all citizens.

ÌÑíÏÉ ÇáãÏì - Ýí ÑÍáÉ ÇáÊÖÎã ÇíÖÇ (2-2)

he says the rate at which they are raising the dinar isnt cutting it.

Event : Economic foreign investment. Between the need caution and (3 - 1)
Baghdad / d. Jamil Mohammed Jamil Skinner . Issues of foreign direct investments and indirect bulk of the attention from a lot of specialists, businessmen and governments of developing and developed countries alike for more than half a century. Although the focus of controversy in this case about the feasibility of this type of investment from the point of view of developing countries through a number of the main issues. Motivation of foreign investments and their determinants and economic feasibility and social policies adopted by the foreign investments and methods of systems and management, practice and implementation of the functional activities of foreign investors. And others, The studies and research on the benefits of economic, social and political development that could have a host of behind attracting foreign investments depends to a large extent on the policy for these investments and the motives and practices of foreign companies. Host countries interested in foreign investments in terms of their implications, as well as the various sources of foreign investment also concerned by the effects of the corporations that these companies are investing abroad and the States generally resort to opening the doors of foreign investment to get the required funding from external sources when pw presentation of inadequate domestic sources voluntary and compulsory to meet the needs of their investment and the returns here is a profit, which is expected to obtain investor in the future for funds, which paid for the acquisition of an investment. The risk is the uncertainty surrounding the prospects achieved or not achieved the projected return on investment and cash flow takes many forms abroad, including : - Flows and funding institutions and international organizations. - Grants and aid from foreign countries. - Foreign direct investment and indirect from individuals, companies and organizations and foreign funds. That history is witness to the sincerity of the flow of funds in the past for many of the countries that are now rich nations, foreign funds have been flowing to the United States of America throughout cent and twenty-five years following independence, well for Canada, Australia and New Zealand, they were able to invest these cash flows and dividend yield exceeded the expectations of investors, the Europeans themselves. However, the picture is different for many of the developing countries at the present time, while unable to pay off its obligations and conditions worsened and worsened until the debts exceeded the hundreds of billions of dollars. The theoretical bases for foreign investment : Based theoretical underpinnings for foreign investment on the contradictory opinions on the subject of foreign investment and the benefits or disadvantages in developing countries. My first view is that there are advantages of foreign investment in the developing country are concentrated in the benefits of the value added to national income directly and the balance of payments in an indirect on the value added to national income, The resulting from direct foreign investment, it paid by the company to contribute (domestic + foreign), and is usually achieved through the proportional distribution of the output of the company as follows : - Salaries and wages of local employment 30% The salaries of foreign workers-15% - Direct taxes 30% After-tax profits 15% - Alahtlakat 10% The sense that there is value added directly acquired national income of a developing country, a total salaries and wages and taxes, This fact does not need to prove to the contribution of foreign investment in a developing country and here it must be noted that as a developing country of its share of financial shares in the company with capital of more local share of the revenues. This is in addition to the bargaining wise to divide profits and rates of outward abroad would enhance the base of the national income. Moreover, the intensity of resource use local economic activity in the company's contribution would enhance national income and, indirectly, by reducing the imported machinery and machinery and knowledge grounds that the proceeds are deducted from the national income, as it is known in classical economic theory through equation the following : Y=C+I+X-M As all the decline in imports M) lead to a corresponding increase in the national income (Y particularly if the economic activity of foreign investors enter in the door industries or export goods, any increase in exports lead to a similar increase in the national income, But on the other hand if all the outputs of the economic activity of the foreign investor is not equivalent to the cost opportunity for local employment, the foreign investment does not become feasible as well as in the case of the local labor force, which is the key foundation to uncover the facts about the effects of foreign investment on the economies of developing countries and justify this assertion that the share return of capital and profit is, in fact, cut off parts of the surplus value up to the non-productive, Therefore, any share received by the foreign investor's capital from the value-added of whatever size is a mere transfer of resources to developing country abroad under the guise of sharing of resources despite the unequal phenomenon, which refers to a foreign investor introduction of the means of production including many skilled knowledge artistic Works, considering that the resources within a developing country and give the equivalent size of the local resources within the foreign investor's share of the added value. The essential difference between these two views can be in foreign investment (and regardless of the extent of increasing the value added to national income) means the possession of the economic resources of the rights of ownership to the country where the investment. The authors opinion the second set disadvantages associated with foreign investment, including : 1-deliberately the foreign investment within the company contributing to guide production and pricing in accordance with their investment. 2-negotiated from time to time with the aim of ousting the host profits and other resources conform to the interests of foreign investors. 3-deepening dependence of the host countries to the State of origin of foreign investors and the consequent negative effects on the local market and the subordination of the new world order. Four-try foreign investors often devote single economy of a developing country.

ÌÑíÏÉ ÇáãÏì - ÇáÇÓÊËãÇÑ ÇáÇÌäÈí.. Èíä ÇáÍÇÌÉ æÇáÍÐÑ (1-3)

Within the next two weeks!

Originally Posted by DayDream

Inscrutable is correct, see link ....

In the name of the people The Presidency Council No ( ) of 2006 The Investment Law

I had this in my notes to research and I got it from this forum....

In a significant institutional development, the law establishes the National Commission for Investment (NCI), attached to the Office of the Prime Minister and headed by a Chairman with the rank of minister. NCI will be responsible for overseeing and executing Iraq's investment policy.

So has it already been done? I THINK SO...IMO I don't believe Talabani would've ratified the law unless EVERYTHING was in place for it.

Cheers!
DayDream

Lets hope a majority of KURDS & ladies

are on the National Commission for Investment!

Maliki commended the efforts of employees of the Ministry of Oil and Electricity
Source : Zawra
29 / 08 / 06
Alive Prime Minister Nuri Kamal al-Maliki coordinates the efforts and become workers in the ministries of oil, electricity and dedication to the service of the Iraqi people who inherited many of the remnants of the former regime and Mekdtha reason of oil derivatives and electricity. This came during the losing sovereignty to the ministries of oil and electricity this morning for the ground on the size of the efforts made in these two vital and Thanksgiving to employees of the two ministries to Maiqdmonh to complete and the sacrifices. And Mr. Prime Minister, when we defend the political process, and are keen to provide the services we are defending Iraq and the new political system, the Constitution and the freedoms and political achievements. He praised Mr. Nouri Al-Maliki, during his meeting with Minister of Petroleum and the ministry of personnel working in the spirit of the challenge shown by Mina ministry told them saying : thank you for assuming the responsibility, even though I know many of the obstacles and difficulties encountered in your work. He also commended sovereignty on daily monitoring of the petroleum minister to overcome a recent crisis in oil derivatives, which resulted in a significant breakthrough confirming the signing of a contract for the purchase of two million liters per day of kerosene with Iran and take appropriate action to perpetuate this achievement. Invited to the sovereignty and not to stop at the temporary solutions and overcome, saying : I invite you to work to find alternatives and use the opportunity of the current upturn and the emphasis on the provision of reserve stocks to avoid future crises. stressing on the provision of an adequate force to protect the lines moving across a real fixed able to deal with terrorism and sabotage. As instructed, Mr. Prime Minister, during inspecting the Ministry of Electricity to establish a power station that would provide quick solutions to the energy crisis in parallel formation of a protection force and to encourage sufficient to rationalize consumption. He listened to Mr. Prime Minister during their travels around in the departments of the two ministries to full explanation from the ministers of oil Messrs. d. Hussein Shahrastani, electricity d. Karim Wahid on the progress of work and the actions taken to resolve the fuel crisis and power And Mr. Prime Minister pledged to continuously increase specialties and provide moral and material support for the efforts of workers in the ministries returned their work to provide these services to the real jihad people love their country and sacrifice themselves, pointing to the Ministry of Electricity to own about 400 martyr. He urged the sovereignty and oil and electricity ministers to follow up on the families of the martyrs and to ensure their pension rights.

Translated version of http://www.alzawraa.net/home/index.php?option=com_content&task=view&id=3580&Ite mid=32%5C

PEOPLE : the import oil derivatives, draining large amounts of the State budget Source : Euphrates / Sabah


World parliamentarians that the amount of exchange (800) million dollars for the import of oil products for the last four months of the current year is a huge drain on the amount of the state budget if it continues to address the crisis of fuel in this way non-economic. The majority of those who met (morning) of the members of the House to read R. spending this amount and validation
It is a truism that the amount had been cashed more than two and a half months and that approving the exchange had come too late for reasons pertaining to the agenda of the House of Representatives, The lack of adoption and ratification would lead to crisis and the long queues in front of petrol stations and the guest of Minister of Oil to know what plans will be adopted by the ministry in the implementation of its work and its future programs and called the ministry to meet its discharge their responsibilities and the establishment of projects and operation of oil giant oil refineries deactivated or Almtouk Fe from work for any reason, to eliminate the acute fuel crisis added to the suffering of the Iraqis because Iraq is an oil country is supposed that the Ministry of oil and petroleum products manufactured abroad by not importing.
We produce petroleum derivatives
The deputy said the writer of the United Alliance list that amount (800) million dollars for importing oil derivatives is a substantial amount added in an interview with the (morning) that the members of the House of Representatives had submitted proposals during the meeting in which the vote on the ratification of this amount is these proposals on the Oil Ministry to proceed Rimpoché automatic giant projects of refineries and factories and plants to meet the acute shortage of oil derivatives in the country and to try to idle the operation of oil refineries for any reason, whether that need maintenance or protection or anything else. The writer said : Iraq is an oil producer and could produce enough oil derivatives citizens and exported abroad. It is believed that in the past year, the Ministry of Oil's budget investment of approximately 2 billion and a half Mulliardolar but the ministry did not benefit from this budget and explained that the reason was, as it seemed to him that the ministry was in transition, and perhaps the chance to invest a few minutes of the announcement of the construction and natural Aznat between the company and those who refer the matter, and this requires time. And between that amount (800) million dollars had been paid two months ago, where the Ministry of Oil borrowed this amount from the Ministry of Finance and the government had sent the book Security spending this amount to the Chamber of Deputies for discussion and approval before that date since the eighth month, but the priorities of the curriculum for the chairmanship of the Council is that delayed this issue P j of the House of Representatives.
Endorsed by the circumstances
The member Abdalkhalk Zenknh a list of the Kurdistan Alliance that the amount allocated part of the cover the shortfall in oil derivatives that citizens suffer from scarcity of a significant amount, especially as the government spends monthly amount (480) million to import petroleum products, annually about any (6) billion dollars. He came spending these huge amounts of money due to the shortage in the production of oil derivatives result of the threats and acts of sabotage against oil refineries and other oil facilities could not leave the country without fuel is difficult and crisis Emervi Zenknh said : Mahosslt prior to the crisis suffocating the fuel generally forced the Ministry of Oil to request from the Council of Ministers spending this amount has been disbursed and the amount of the request before the exchange more than two and a half months since the eighth month and the request was submitted in time by the Oil Ministry to the oil and gas in the House of Representatives, and since the ninth month, but because Alta onto what happened and a number of other factors delayed ratification of the variance and approval by the House of Representatives and candidates from voting and ratification and approval at the fifth session is tied. He stressed that the colossal amount is supposed to Iraqi oil refineries are producing oil derivatives, because Iraq is an oil country and wondered Why import these products from abroad and these huge amounts of money to come out of hard currency outside Iraq, and this is supposed to make us more to tackle this problem radically.
Frightening figures
The deputy said Noureddine Hayali Said on the Accord Front has objected to approve this resolution because No. very large amount, up to $ 1 billion a year and that figure, in fact, horrible and that he spent this way urgent.
He was supposed to invite oil minister to discuss with him and discuss on the work of his ministry, or at least that would call for the oil to all the provinces, there is a shortage of oil derivatives, and a very large, Farmers in Mosul did not receive their share of fuel for many months ended agricultural season has not received anything and pointed out that the price Hayali Qaninhalgaz in Sulaymaniyah dinars (40000) In Erbil (50000 - 75000) dinars In Mosul (30000 - 50000) dinars Thus, in Baghdad, the price of a barrel of kerosene (250000) dinars is needed e prices are too high in a country such as Iraq oil. He said, we endorse the very large sums to support the prices of oil derivatives have not seen them in better prices or reduced has objected to the vote on the decision to pay this amount, but Mr. Speaker has not responded to all the objections made, including the claim was first deputy S. Parliament, Mr. Khalid al-Attiyah hosting Oil Minister in the House of questioning and stand on the fact that large amounts of money and Hayali explained that the government funds the establishment of this division of oil and gas labs and there is a call to us in this direction, and I am one of the members of the oil, gas and natural resources in the House and when I introduced this committee because I was in the writing of the rules of procedure of the Council of the importance of the oil sector, which constitutes a large backbone of the economic life of Iraq and is made up of 90-95% of its imports, but we see a lack of response procrastination large and vulnerable issues in the management decisions and recognizes that the funds disbursed to it must be for any Aisserv one dollar out of the budget only with the consent of the House of Representatives.
Recommendation
She said she A'ala Saadoun that amount (800) million dollars approved for importing oil derivatives, which surprised him is a very substantial sum, we in the Finance Committee conducted a study in the science, this amount for a period of four months only and not for a whole year has lifted the Finance Committee in the House recommendation to the Ministry of Oil of working hard Yeh to repair damaged oil refineries and operation of the stalled because Iraq is an oil country, we are supposed to make oil products and export them not to import substantial amounts of money, as is now being added, if the situation continues this way, so years 5. 12% of the state budget be spent on importing oil derivatives, and this is very dangerous.
She explained that the members of the Finance Committee and members of the House had been forced to agree to the payment of this amount if he did not approve bond will fuel crisis, especially gasoline, will very long queues of cars and people on the brink of packaging and now the crisis having passed a result of the importation of oil derivatives e and non-import would cause a major crisis and this may not and we on the verge of winter.
Fear of queues
The deputy, Dr. Sharif on behalf of the United Alliance list If spending this amount will depend on the importation of petrol, kerosene and other oil derivatives, the other in the winter season and this will be a major crisis in the country and return the long queues were also argue that the parliament and disrupted services offered to citizens and added that the amount was only a (800) million dollars divided into four e-month - (9, 10, 11, 12) per month (200) million, and a part of these funds have been disbursed. The case that the issue of payment of this amount had been submitted a proposal of Minister of Oil to the Economic Committee in the House of Representatives and the Council of Ministers in the seventh month has been raised and discussed in the meeting of the Council of Ministers and approved by the Council in the eighth month did not reach the House only in a month (11) routine because of the delay in the delivery of the books despite the fact that these e books are needed and the need for urgent and relevant, and it is possible for the Parliament to discuss this matter in the seventh or eighth month, and takes a decision before its time.
The reality of the situation
He said what is happening now is the lack of effective control and serious on the distribution of these products and prices, the official added that such control can be shared by local and municipal councils in the regions, as well as the participation of the Ministry of Oil through their regulatory body responsible for the sale of these products and sold them at prices in violation of widely R. official. Ministry of Oil and oil derivatives, now distributed in all regions of Iraq and must be in the ministry to correct and are clear and known to control these things and in collaboration with local councils and municipal ministry could find the right mechanisms for distribution through outlets genuine and honest because these councils is concerned with citizens , which can prevent the arrival of oil products to smugglers to increase prices and sold on the black market. He recalled that there was another issue affecting the prices of these products on the market or the lack of a case smuggled outside Iraq, and then incorporated into Iraq and sold at very large or sale outside Iraq. Also, there are some oil refineries in Iraq is still something to produce the correct format, for example, the Baiji refinery, almost outside the control of the State Aurbma control by the state simple and perhaps now there are many violations in this refinery, and many of its production sold on the black market or through Altjaralmehrbin and perhaps the government does not have full control and this also affects a large oil on the ground in Iraq.
Sharif added that the report we mentioned that Iraq produces about half the needs of the population of petroleum products and therefore needs the other half of the members of the House of Representatives during the vote on the importation of petroleum products amounts deemed it necessary to vote and to ratify the adoption of these amounts because it is a protective p case and the arrest of approval will lead to a big problem but that many overlook wanted to tighten the cause of this issue is another issue host of the Chamber of Deputies to the Minister of Oil and request him to speak in a clear and detailed plans for the establishment of the category of the ministry of oil and oil investment projects for the next phase.

وکالة ال�رات العراقية للانباء

Originally Posted by shotgunsusie

ÌÑíÏÉ ÇáãÏì - Ýí ÑÍáÉ ÇáÊÖÎã ÇíÖÇ (2-2)

he says the rate at which they are raising the dinar isnt cutting it.

No Kidding!!!

worf