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

A call to establish a higher national council for economy
Negative phenomena have emerged during the past period
04/12/2006
Source: Translated by IRAQdirectory.com

Montasser Al-Amara, Chairman of the Iraqi parliamentarians Federation and member of the Economic Committee in the former National Assembly, called the government to: "establish a high national council of Iraqi economy", saying that: "the Council must have the highest decision in the Iraqi economic aspect, and must include specialized Iraqi experiences and competencies from all blocs, political movements and independents".

He added: "This project must be started as soon as possible, and must be accompanied with a center for strategic studies formed of specialists, technocrats, university professors and economic experts, whatever their views are, for the purpose of planning and counseling".

Al-Amara explained: "The deterioration of the Iraqi economy and the negative phenomena that have occurred in it is due to the lack of centralized economic decision and that Iraq lacks the healthy economic climate".

He pointed out: "that the Iraqi economy is dependent almost entirely on oil. This means that the economy has no clear methodology, but more than that, it depends on a chaotic one. It is not a free economy, not an oriented one or any other kind of economy which is the main reason for the economic problems, as well as being the reason why foreign investors did not enter Iraq and not the security status as claimed by the some, since many Iraqi regions are totally safe, but was not entered by foreign investors".

Al-Amara called: "that the council must include experts from the ministries concerned with this subject: Oil, Electricity, Industry and others, in order to be able to draw ambitious and strategic plans for developing the vital joints of life". He said: "The Iraqi economy has the expertise and competencies that qualifies it for the advancement, but what is lacking in this area is good governance and bold decisions".

He explained: "that those two points fall within the jurisdiction of the Supreme National Council of Iraqi Economy, which has a realistic and clear approach to run the economic resources, as well as being an important and active administrative center in making the economic decision".

Al-Amara stressed that: "the ideal policy to attract foreign capital to Iraq is to create motivations higher than the attractions found in other countries. The most important of these motivations is a stable economic policy, because foreign investors will not risk investing in Iraq if there is no stability in the Iraqi economy".

http://www.iraqdirectory.com/DisplayNews.aspx?id=2699

Originally Posted by doyouknow

Price update from Safdinar..no e in the word...I purchased 1mil at $824.00 total. will diliver fedx tomorrow Tuesday to the west coast Portland Oregon

yes, that includes your $24 shipping cost.

Iraqi Central Bank raises interest rates to 16%
November 29, 2006

A statement issued by the Central Bank said: "the index of consumer prices in Iraq in October 2006, express increase in the inflation rate by nearly 2.7% compared with September of the same year".


The statement added that the increase showed "diverse rises in the prices of all goods and services, reflected in one form or another at the level of annual inflation which witnessed a remarkable increase of about 9.52% according to the indicators of October compared to last September, about 6.51%".


The Central Bank noted that «in spite of the slight decline in the annual rate of inflation last October 2006, which was the index of consumer prices, and from which the items of fuel, lighting, transport and communications were excluded, it recorded nearly 32% after it witnessed a rise of 33.1% in September of this year".(Source)AlSabah

Everyone just relax for Pete's sake. Adster obviously lost his cool and his comments were directed at whatever his name is. They seem to have a history.

I agree his comments that were directed at all the Scots was out of line and he should apoligize. Don't take it so personally though please. I am sure he meant no disrespect to the entire region. I am sure he will do the right thing in due time. It's not like he is Michael Richards right? Seinfeld is on the TV so I thought of him. LOL

Hey I am just an old hog farmer from South Texas..I don't get easily offended. I am a huge William Wallace fan though. Great movie that was on last night actually. We are about to make some serious cash if this thing does what most of us think. After 3 years I am down to the hoping stage myself.

For what it's worth I love everyone. I mean a turd is a turd no matter where your from right?? Let's find something to get happy about tonight ok. I need you guys to keep me feeling positive so I don't start crying. LOL

Speaking of crying, have you guys watched Extreme Home Makeover.....Facking tear jerker isn't it??

Again, still a good reading...

The dropping of the dollar caused by the low interest rates
dropping of the dollar caused by the low interest rates
04/12/2006
Source: Translated by IRAQdirectory.com

An Iraqi economic expert attributed the recent decline in the value of the dollar against the Iraqi dinar to the lowe interest rate. Dr. Taha Fakhri, member of the Iraqi Institute for developing the economy, said: "The decline in interest rates is the reason behind the slight decline in the dollar in governmental auctions and commercial transactions". He added: "This decline is also caused by the weak consumers demand on imported goods due to the deteriorating security situation, which compelled the State to finance some important deals".

He pointed out that: "The slight rise or decline of the dollar does not obstruct the growth or value of the dinar which is expected to become stronger than before with the introduction of the balance of 2007 and the strategic application of the new monetary policy announced by the government last year". He explained: "The decline will be reflected on the value of the precious metals whose prices will rise as a result of the fall in the dollar, which gives an opportunity for those who hold commercial transactions, such as automobiles and heavy equipment, to invest them". Fakhri said: in some cases the decline in the dollar rate is linked to America itself through the entry of imported goods and the exit of funds from it.

http://www.iraqdirectory.com/DisplayNews.aspx?id=2698

Dollar demand hits new low against iraqi dinar in 2006
November 29, 2006

The Cenbank said in its daily statement the dollar demand reached $0.850 million compared to $20.580 million on Monday.

The central bank covered all bids received from local banks which were $0.850 million in cash.

The exchange rate was at 1,437 iraqi dinar per dollar, two iraqi dinars down from the previous session.

Only six banks participated in Tuesday’s session, the lowest number in 2006, and none of them offered to sell dollars.

The Iraqi central bank runs a daily auction on Sunday through Thursday.(Source)Aswat Al Iraq

There is also another website called dinartrade.com I haven't used them
yet,but they do have up to date news on Iraq's economy.also the last time
I purchased 1 mil from safedinar.com,it came by fedex a little over 24 hours
later,much to my surprise and chagrin,didn't have the money order in hand
and had to rush over to the post office to get a money order for the
purchase.Has anyone tried them yet????

Interesting,

I guess some are a little short on tolerance today, so lets just put it all aside and move on. Flocker was banned, and as some pointed out, he has been a constant thorn since SI went in the dumper, so he takes his monthly stabs here to vent his frustrations.

We all slip up once in awhile when provoked, so lets all make peace and move on. After all, I am part Scot and I have one ball smaller than the other, so I took no offense, who cares, balls mean little when all is said and done, and since Adam will be running around naked soon, lets see who really has the biggest balls. LOL

Good luck to all, Mike

November 21, 2006

EU External Relations Commissioner Benita Ferrero-Waldner said negotiations show renewed European commitments towards Iraq, which were earlier announced by the EU.


For his part, EU Trade Commissioner Peter Mandelson stressed the significance of the deal that could help Iraq wriggle out of its deteriorating economic conditions and ensure stability which the Iraqi government seeks to bring to the country.


The deal is meant to reintegrate Iraq into the international community and the EU as far as economy and trade are concerned, he said, noting that the EU seeks to shore up efforts exerted to overhaul trade, economic and social institutions and to reconstruct the country.


EU-Iraq trade talks are expected to deal with goods, services and necessary means to stimulate and spur investment , as well as taxes and intellectual property rights.


Both sides will also mull over how to curb poverty and protect environment, along with cultural and academic issues.


The European Commission said in a release that all agreements hammered out between the EU and other countries attach much attention to human rights, terrorism and weapons of mass destruction. Due to insecurity in Iraq, bilateral talks will also deal with the political and security situations in the country, it said, vowing that the EU would promote Iraq's national reconciliation. Minister of Trade Borham Saleh is leading the visiting Iraqi delegation. (Source)Kuna

Originally Posted by Offshore-Wealth.com

Interesting,

I guess some are a little short on tolerance today, so lets just put it all aside and move on. Flocker was banned, and as some pointed out, he has been a constant thorn since SI went in the dumper, so he takes his monthly stabs here to vent his frustrations.

We all slip up once in awhile when provoked, so lets all make peace and move on. After all, I am part Scot and I have one ball smaller than the other, so I took no offense, who cares, balls mean little when all is said and done, and since Adam will be running around naked soon, lets see who really has the biggest balls. LOL

Good luck to all, Mike

Be something to watch for in the jacuzzi in the Caymans Mike, LOL.