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

Exactly chooch!

Originally Posted by Offshore-Wealth.com

Interesting,

Everyone is seeing the same thing, nothing. LOL It is almost like a ghost town, no word coming out either way, good or bad, it is more like, it is done deal, now it is only a matter of announcing it. (g)

Good luck to all, Mike

Mike, What possible reason would they have not to make the announcement if everything is a done deal? What possible reason for the wait? I don't know anything about politics or currency or economics, I simply have to rely on what you and Adster and others like you have to say, so please let us know WHAT COULD THEY POSSIBLY BE WAITING FOR? Thanks Rolbuddy.

Originally Posted by eric69

Mike, What possible reason would they have not to make the announcement if everything is a done deal? What possible reason for the wait? I don't know anything about politics or currency or economics, I simply have to rely on what you and Adster and others like you have to say, so please let us know WHAT COULD THEY POSSIBLY BE WAITING FOR? Thanks Rolbuddy.

Foreign Investment Law. Could well be they're waiting for security to improve before doing it, but I feel it is the FI Law. Once this happens we've hit a home run.

I sure hope I get my order before anything is announced.

Ouch, if I don't.

Kozmar

Adam,

It might have been brought up before, and if so I apologise for the repetition...any projected time for the FIL to be enacted?

Thanks
Kate

Originally Posted by whatever

Adam,

It might have been brought up before, and if so I apologise for the repetition...any projected time for the FIL to be enacted?

Thanks
Kate

I'm pretty sure it has been done but just not announced publicly. Maybe Mike can confirm this? Truely don't know what they're waiting on. The US are ready, we're ready, the folks of Iraq are ready! Just never know with politicians what they're thinking.

Every day goes by is a day closer........

i've had a rather bad feeling about this for about a month now. something has or is going "wrong".
just went to dinartrade.com and they've lowered their prices (since yesterday).

Today: 21 Jun 2006



RSS news

Finance & Banking

Dollar demand up in Iraqi central bank’s daily auction

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19 June 2006 (Iraq Directory)

Demand for dollars rose on Sunday for the third consecutive session in the daily auction of Iraq’s Central Bank following rises on Wednesday and Thursday.

“Buying bids for dollars amounted to about $46 million from 15 banks,” the central bank said in its daily statement.

In the previous auction, demand was $39 million.

Of the total, about $34.5 million were sold in cash to the banks while some $11.5 million were sold in foreign transfers.

The Iraqi currency remained steady at 1,476 dinars to the dollar. Banks made no offers to sell dollars, the statement said.

Quoted rates for major currencies were as follows:

Euro 1,862.223-1,863.155
Sterling pound 2,726.874-2,728.230
Yen 12.815-12.821

Source: Iraqi News


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what can this mean? good or bad

Hi,

It would appear from the various postings made that the general concensus is that before the Iraqi stock exchange is open to foreign investers the currency must revalue, is this so?? and i beleive that it will open at the end of this month /beginning of July, is this so.

We are a week or so away from this happening, so on that basis it must revalue by then, is this so.??

I have just been onto the Iraqi stock exchange site, I dont know how regularly they update but there appears to be nothing on there to say they are open to foreign investment in the near future.

I would be interested to know where Mike and Adster get their info from,as it has been said if they open without a revalue then everybody will be jumping in and buying everything up for peanuts.

Today: 21 Jun 2006

RSS news

Economy

Sizeable Reduction in Iraq’s Russia Debt

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21 June 2006 (Baghdad: Al Sabah newspaper)

Iraq has succeeded in reducing its foreign public debt and abolishing 80% of its debt to Russia thus reducing the overall total from 13 billion to only 800 million dollars. This is in line with an agreement signed with the Paris Club and announced by the Finance Minister, Baker Jabar AL Zubaidi.

An authoritative source at the Ministry of Finance said in a statement to AL Sabah that the Iraqi delegation’s success had a positive effect on the Conference, which led to the debt reduction, a fact which may encourage other countries, such as the Gulf Arab Countries, to similarly abolish their debt, thus relieving Iraq of a significant burden.

The source added that the delegation conducted meetings with Arab countries participating in the Conference and with experts from the International Monetary Fund (IMF) in Amman. Future relations between Iraq and the IMF were discussed and the status of previous agreements was followed up. The source explained that the delegation held additional discussions in preparation for participation in the forthcoming Ministerial Meetings of the OPEC Fund, which are scheduled to take place in Jedda, Saudi Arabia. Iran, Saudi Arabia, UAE, and Algeria are to draw up a new lending strategy in order that developing countries might develop their commercial sectors.



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this one is big