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

Originally Posted by Adster

WM, I think this points to a big jump sometime in January at the latest.


raq seeks to support its currency to become stronger dinar.



MENAFNMENAFN - 07/12/2006- 07 / 12 / 2006

(MENAFN) أعلن وزير المالية العراقي ان العراق بصدد دعم الدينار العراقي وتقويته، حيث سينعكس ذلك ايجابيا علي الدولة وعلى الشعب، ويساعد على زيادة الخدمات.(MENAFN) Finance Minister announced that Iraq is about Iraqi support and strengthening of the Iraqi dinar, which will be reflected positively on the state and the people, and help increase the services.

وأكد الوزير في تصريح ان العام القادم سيشهد زيادة في الموازنة بنسبة تصل الى 73% عن هذا العام، اذ شهد تباطئ في صرف المبالغ، حيث صرفت وزارة الموارد المائية حوالي 75% من موازنتها و20% في الاسكان و17% في النفط.The minister said in a statement that next year will witness an increase in the budget by up to 73% this year, which saw a slowdown in disbursements, which spent the Ministry of Water Resources, about 75% of its budget, and 20% in housing and 17% in oil.

ويذكر ان السبب هو ان الاموال لم تطلق الا في منصف شهر نيسان، ليؤدي الى ضياع نصف العام، فهناك 2.5 مليار دولار لاعمار المحافظات، بالإضافة الى عدم وجود مكاتب استشارية هندسية وقلة الخبرة.It is noteworthy that the reason is that the funds have not been launched only in the month of April fair, leading to the loss of half a year, there are 2.5 billion dollars to reconstruct the governorates, in addition to the lack of engineering consulting firms and the lack of experience.

ومن المتوقع ان يشهد الشهر الاول من العام القادم التحرك لصرف وقيام المحافظات بتهيئة المكاتب الاستشارية والهندسية التي ستتعامل مع صرف الموازنة بنسبة 100%.It is expected that the first month of next year to move the exchange rate and the creation of provincial offices consulting, engineering, which will deal with the disbursement of the budget by 100%.

وتجدر الاشارة الى ان العام المقبل سيشهد ثورة اعمارية كبيرة، وسوف تسهم في تقليص حجم البطالة وتعزيز الامن والاستقرار في العراق.It should be noted that the coming year will witness a revolution Aemarih large, and will contribute to reduce unemployment and enhance security and stability in Iraq.
Translated version of MENAFN - Middle East North Africa . Financial Network

Exactly correct, Adman!!! This is the key paragraph of this article:

It is expected that the first month of next year to move the exchange rate and the creation of provincial offices consulting, engineering, which will deal with the disbursement of the budget by 100%.

A 100% increase of IQD value is equivalent to around 700 IQD to 1 USD by the end of the first month of 2007!!! Further proof of the gradual appreciation of IQD that the CBI has already implemented!!! You guys are now up to speed about exactly what is happening. Don't forget my handy dandy IQD % increase chart posted in the rumour section. Here is part of it for reference:

1430 IQD to 1 USD
1 IQD = .0007 USD Baseline starting point.

1300 IQD to 1 USD
1 IQD = .00077 USD = 10% increase in value.

1000 IQD to 1 USD
1 IQD = .001 USD = 43% increase in value.

700 IQD to 1 USD
1 IQD to .0014 USD = 100% increase in value.

500 IQD to 1 USD
1 IQD =.002 USD = 186% increase in value.

100 IQD to 1 USD
1 IQD =.01 USD = 1329% increase in value.

Originally Posted by Jola

I actually tend to believe that that article is misinforming people a little ( exactly the part that you are referring to). The U.S. Iraq Study Group RECOMMENDED that, but the line " the bank will raise rates to 20% and appreciate dinar by 10 per cent" has not been verified by CBI. The " the bank will" assumes that the CBI WILL DO what the Study Group says, which we know it is not the case....

We know about the increase of rates from 12% to 16% ( CBI never said anything about 20%) , and we know that they will raise the exchange rate of the dinar, but no one knows by how much or what is the goal. Oh, sorry, yeah, we know what's the goal! To make the dinar the currency of choice!

Just MY take on that part of the article.

No, the article is exactly accurate and confirms what the IMF/CBI have already stated. Check this pdf http://www.imf.org/external/pubs/ft/...06/cr06301.pdf On page 17 you'll see the IMF/CBI make a projection of 1345 IQD to 1 USD exchange rate by the end of 2006 which is around an 8 to 10% increase in value. They may not make it all the way there with only 16 auction days left in the year, but clearly they are moveing the IQD in that direction. The Iraq Surrender Group is merely verifying what we already know. Nothing at all misleading about the article and GREAT news for us all.

Professor Zuhair Kazem Aboud guest rooms Iraqi Parliament

(Voice of Iraq) - 12-10-2006
This issue was sent to a friend

Conference hosts Iraqi Parliament Professor Iraqi judge Zuhair Kazem Aboud today, Sunday, 10 / 12 / 06, in sharp eight p.m., according to the timing of Central Europe and the dialogue with the guest on things and happenings trial of the tyrant Saddam, we hope all brothers and sisters, dear audience to participate in and benefit Welcome to you all of you

The incumbent management

Voice of Iraq
The Republic of Iraq
Council of Ministers-the governmental communications
Media Relations
Press release /
Sunday, 12-10-2006

The Ministry of State for National Dialogue determine the 16th of this month, a date for the convening of the Iraqi political forces for dialogue and national reconciliation

A source authorized in the Ministry of State for National Dialogue has been designated the 16th of this month, a date for the convening of the Iraqi political forces for dialogue and national interest.

The source explained that the conference held under the auspices of Prime Minister Nuri Kamal al-Maliki, under the slogan "remain strong Iraqi political pillar of national unity and to ensure the success of the political process and reconciliation.

Cheers!
DayDream

Originally Posted by Wm.Knowles

Hello everyone. I think we can safely say the RV is in progess. We are still seeing more of the same, i.e. the CBI is continuing to remove dinar from the economy and increasing the exchange rate as we go. With all of the other economic news we've seen, and expect this week, things could get real exciting real fast. The only thing that remains is weather the CBI intends to raise the exchange rate in a gradual way over time, or will there be a "bold adjustment" in the rate. In either case, the only difference is the amount of TIME it takes for this investment to become extremely profitable. So, if we disagee, its only about that simple variable, time. Considering the other issues involved, decreasing the amount of dinar in the economy, increasing oil income, rise in GNP, and potential for huge investment in the short run to develop the oil economy, this exchange rate will accelerate even faster if you are one that leans toward a gradual rise in the value of the dinar. So, even without a bold adjustment (which I thinnk is probable) the rate will increase in increasing amounts over the near term. Its all very good for all of us and everyone have a good weekend. the rest of the auction week will be interesting to watch. Thank You.

Excellent point of view, Willie. We are all on the same team even if we get to the endpoint in different manners. Sure we'd all like the magical overnight high re-val. But if we still get there in a gradual manner that benefits Iraq will we be sad? Of course not. The Iraqis will do what is best for Iraq and that is to make profit by increasing the IQD value. They've sold it for too low a price for too long a period. Now they can increase their reserves which will allow them to increase their currency exchange rate. They win, we win.

Originally Posted by Socata 850

Number of banks 10 -----
Auction price selling dinar / US $ 1422 -----
Auction price buying dinar / US $ 1420 -----
Amount sold at auction price (US $) 14.830.000 -----
Amount purchased at Auction price (US $) 1.000.000
Total offers for buying (US $) 14.830.000 -----
Total offers for selling (US $) 1.000.000

Goooooooooooooood Morning RolClub !!


Lets keep this snowball a rollin'

The dinar to the dollar is down 2 more points today from 1424 to 1422 and another $13,830,000 (net) worth of dinars, (19,266,260,000) out of circulation with 10 banks participating. Fewer banks participated today, that puts our grand total of dinars withdrawn from circulation as of the 23nd auction since the beginning of CBI's reval plan to: 1,160,999,607,000.
We are now 40 days into the CBI's reval plan.

When this things hits,

"I'm going someplace where the beer flows like wine, and the women instinctively flock, like the salmon to Capistrano. I'm talkin' about a little place called, ASPEN"

Just a guess, but could 2 Trillion be there magical number, before a reval ? I have been thinking about it, and a reval of 1:1 would mean a massive savings for Iraqi gov't. I'm not a financial advisor, But maybe Mr. Knowles could hedge a guess on this one?

Gloribee

Originally Posted by Socata 850;1


[B

"I'm going someplace where the beer flows like wine, and the women instinctively flock, like the salmon to Capistrano. I'm talkin' about a little place called, ASPEN" [/B]

Slippy...Slappy...Samsonite--I was way off!! (one of my all time favorite movies!!)

Well, I was hoping that the rv would happen before the 2nd anniversary of my 36th birthday...that's all right...I'll pass it on to Franny and all the other december 14 babies!! Just so long as we can quit our jobs before christmas, that's one present I don't mind having to wait for!!!

We can celebrate EVERYONE'S birthday in the Cayman's!!!

Cheers, OSWoman

http://www.alertnet.org/thenews/newsdesk/KHA036467.htm

BAGHDAD, Dec 10 (Reuters) - Iraq's president said on Sunday he rejected a long-anticipated list of recommendations by the bipartisan Iraq Study Group to change U.S. policy in the region.

"I think the Baker-Hamilton report is unfair and unjust," Jalal Talabani, a Kurd, told a news conference at his Baghdad residence. (There goes the 10% theory, thank goodness. Even Talabani knows 10% won't help his country!!!)

"It contains very dangerous articles that undermine the sovereignty of Iraq and its constitution," he said.

The report by the Iraq Study Group, led by former U.S. Secretary of State James Baker and Democrat Lee Hamilton, urged more centralised control of Iraq's vast oil wealth and embedding thousands more U.S. advisers in Iraq's security forces.

DOH! Double post...

Sunday, December 10, 2006

Almshahadani welcomes the formation of a political bloc comprising the Islamic Party and the Supreme Council and the Kurds

From the hushed Abdulamir

Baghdad - (Voices of Iraq)

The President of the Iraqi Parliament Mahmoud Almshahadani today, Sunday, the formation of a political bloc comprising the Supreme Council for Islamic Revolution in Iraq, the Islamic Party and the Kurds.
Almshahadani said today during the parliamentary session which was held this afternoon in Baghdad : "I am with the statements of Mr. Akram Hakim, Minister of State for the national dialogue on the formation of a political bloc comprising the Islamic Party and the Supreme Council for Islamic Revolution in Iraq, the Kurds in order to address the sectarian tension in the country."
It was Zeralhwar National Akram Hakim said Friday that the coming days will witness the formation of a political bloc comprising the three parties the Supreme Council for Islamic Revolution, the Islamic Party and the Kurds.
Mr. Almshahadani added, "I think that summoning the American President George W. Bush for the representatives of these parties is the basis for the formation of this bloc."
The head of the Supreme Council for Islamic Revolution in Iraq, Abdel Aziz al-Hakim met in Washington last week, the American President, is scheduled to Vice President Tariq marginal similar visit to Washington in the first of next year, according to Deputy Taha books member of the Iraqi Accord Front.

http://www.google.com/translate?u=http://www.aswataliraq.info/modules.php?op=modload&name=News&file=index&startn um=31&langpair=ar|en&hl=en&ie=UTF8

Cheers!
DayDream