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

A press release about losing Dohuk governor with a number of

(Voice of Iraq) - 12-12-2006
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Governor of Dohuk inspecting districts and their preservation and access to stages

Project delivery service where The governor of Dohuk, with a number of government officials toured areas Videh and Sheikhan to follow up the current work there in the service projects completed by the support of the government of the territory Cordstan. At the outset was opened by Dhaka, which is 4.5 km long and the amount of allocation of 131 million dinars. Beyond been laying the foundation stone for building eight residential houses in the village of Kserin Videh hand, the amount of 208 million dinars.

The Sheikhan in the district has been inaugurated by Barazi big and small, with a distance of more than 18 km distance to a road that the government had allocated one billion and 97 million dinars. The other path was through Zilka and away the T-hee, which amounts to 22 km long, will be utilized for linking eight other villages in the region. The amount allocated for this road is 864 million dinars.

Other projects that have been visited in the Sheikhan was through Jens and Sheikhan, who longitude 11.5 meters, where the government had allocated two billion and 140 million dinars.

In addition to the construction project of 25 residential houses in the village of Jens which has been built according to modern technical specifications and health. Knowing that the project is in its final stages, and the government of the territory Cordstan had allocated an amount of 720 million dinars to accomplish.

And on this tour and projects that are now in the region speaking with Mr. Ramadan governor of Dohuk to the media, saying : At the outset, there was no interest in these areas, but now things have disagreed since it has been until now the establishment of more than 70 kilometers of roads and more than 43 residential homes, according to a recent designs with the implementation of other projects in the region estimated at six billion and 719 million dinars.

It is expected that the implementation of other projects are of great importance for the region in the next year. It is noteworthy that these projects implemented now by the Directorate of reconstructing villages in Dohuk governorate of Dahuk, the support of the Department of Dohuk governorate.

Raising sales of Basrah light crude by 100 thousand barrels a day
12 December 2006 (Iraq Directory)

An official in the Iraqi oil sector said on Thursday that Iraq raised sales of Basrah light crude for the determined term contracts up to 1.65 million barrels a day in the first half of 2007, at an increase of 100 thousand barrels a day from the previous six months.

An official of the Iraqi Oil Marketing Organization (SOMO) said that a modest increase in production from the southern oil fields has allowed SOMO to enhance supplies to some customers and add the Italian E.R.G. and the Austrian O.M.V. to the list of clients.

He said: "contracts allocations have been issued... We expect to increase the available quantities from Basrah light crude about 100 thousand barrels per day".

Iraq's revenues rely almost entirely on exports of Basrah light crude from the port of export on the Gulf south of the country.

The subversive attacks suspended sales of Kirkuk crude through the northern pipeline to Turkey, most of the time, over the past three and a half years.

Raising sales of Basrah light crude by 100 thousand barrels a day | Iraq Updates

I like that, increasing that oil production!

The Oil investment law, completed its final stages
12 December 2006 (Iraq Directory)
Iraqi Prime Minister Nuri al-Maliki said that his government had completed the preparation of a law encourages foreign investment in the oil and gas industry in the country and will submit it to Parliament for ratification.

But members of the Committee, which is working to prepare the law, were more cautious; they pointed out that they have done most of the work but they need another week or ten days to complete.

There are foreign investments with billions of dollars to exploit the third largest oil reserves in the world, pending the adoption of an appropriate legal framework.

The Oil investment law, completed its final stages | Iraq Updates

Billions of dollars of foreign investment, just what they need and they are still talking!

Open that doors this week and help your own people!

Originally Posted by shotgunsusie

keep in mind whos rumor it is, our infamous laxative salesman.

Now that's funny!!


Amanda

Paying for Iraq's Reconstruction

Here is one web site that I just got to. It's got a lot of numbers, analysis and so on. Maybe our intelligent members/economists will find some answers and make some calculations. Here is the summary:

Summary

Introduction
The Focus of CBO's Analysis
Other Factors: Security Costs and the Unknown Potential of Private Capital

Various Agencies' Assessments of the Costs of Reconstructing Iraq

How Much Funding Could Iraq Contribute to Reconstruction?
Iraq's Budget Plans
The Role of the Oil Sector
Iraq's International Obligations

Foreign Aid Pledged for Reconstruction

Three Approaches to Reconstructing Iraq
The Condition of Key Iraqi Sectors
Approach 1: Fully Fund the Needs Identified by the United Nations and World Bank
Approach 2: Fund Only the 2004 Needs Identified by the United Nations and World Bank
Approach 3: Fund All Immediate Needs and Some Medium-Term Needs

The Cumulative Effect of the Oil and Debt Scenarios and the Approaches to Iraq's Reconstruction


Tables

S-1. The Iraqi Government's Budget Plans
S-2. Range of Estimates for Iraqi Government Funds and Costs, 2004 to 2007
S-3. The Costs of Three Approaches to Reconstructing Iraq, 2004 to 2007
1. Assessments of the Costs to Reconstruct Iraq, 2004 to 2007
2. The Iraqi Government's Budget Plans
3. Capital Investment, by Sector, in the Iraqi Budget, 2004 to 2007
4. Effect of Oil Exports and Prices on Iraq's Budget for Reconstruction Under Various Scenarios, 2004 to 2007
5. Estimates of Iraq's International Obligations
6. Effect of Debt Levels and Interest Rates on Iraq's Budget for Reconstruction Under Various Scenarios, 2004 to 2007
7. Projected International Financial Assistance for Iraq, 2004 to 2007
8. The Costs of Three Approaches to Reconstructing Iraq, 2004 to 2007
9. How Iraq Compares with Other Countries in Some Key Indicators of Development, 1990 and 2001
10. Summary of the Different Approaches to Reconstruction, by Sector and Funding Provided in the Iraqi Budget
11. The Impact of Oil Prices and Debt on Iraq's Reconstruction, 2004 to 2007

Figure

1. Past Iraqi Oil Exports and Revenues, Compared with the Government's 2006 Goals

Boxes

1. Terms for Renegotiating International Debt Obligations
2. The Cost of Reconstructing Iraq on the Basis of Analogies from Bosnia and Kosovo
3. Generating Capacity and Electricity Consumption in Iraq

And here is the update from Dec 8, 06

Summary and Introduction 1
How Much Funding Could Iraq Devote to Reconstruction? 3
Iraq’s Budget Plans 3
The Role of the Oil Sector 8
Iraq’s International Obligations 12
Foreign Aid Pledged for Reconstruction 15
U.S. Aid 15
Other International Assistance 16
The Role of Private Capital 17
The Status of Reconstruction Efforts in Selected Sectors 17
Security 19
Electricity 20
Oil 22
Water and Sanitation 23
Education 24
Health 24

http://www.cbo.gov/ftpdocs/76xx/doc7699/12-08-Iraq.pdf

Originally Posted by kiko

The Oil investment law, completed its final stages
12 December 2006 (Iraq Directory)
Iraqi Prime Minister Nuri al-Maliki said that his government had completed the preparation of a law encourages foreign investment in the oil and gas industry in the country and will submit it to Parliament for ratification.

But members of the Committee, which is working to prepare the law, were more cautious; they pointed out that they have done most of the work but they need another week or ten days to complete.

There are foreign investments with billions of dollars to exploit the third largest oil reserves in the world, pending the adoption of an appropriate legal framework.

The Oil investment law, completed its final stages | Iraq Updates

Billions of dollars of foreign investment, just what they need and they are still talking!

Open that doors this week and help your own people!

HOLD UP FOLKS THIS IS A REPEAT WITH "NEW" DATE!!!
Those sneeky buggies over there are doing reprints of old stuff.

Ambassador Jackie W. Sanders, U.S. Representative to the UN for Special Political Affairs
Remarks to the Security Council
New York City
December 11, 2006

USUN PRESS RELEASE #391

As requested by the UN Security Council in Resolutions 1546, 1637 and 1723, I am pleased to report to the Security Council on behalf of the 25 countries making up the Multinational Forces-Iraq (MNF-I), on the Force's progress towards fulfilling its mandate.

Mr. President,

There have been a number of important developments in this reporting period. We welcome the Security Council's unanimous adoption of Resolution 1723 to extend the Multinational Force-Iraqi (MNF-I) mandate and the arrangements for the Development Fund for Iraq and the International Advisory and Monitoring Board. The MNF-I continues to play a vital role in the security and stability of Iraq and to work in partnership with Iraqi authorities to support the transition of security responsibility to Iraqi Security Forces. As noted in the Secretary of State's November 17 letter to the Council President in support of the MNF-I mandate, the Government of Iraq and MNF-I have three common goals: Iraqi assumption of recruiting, training, equipping and arming of the Iraqi security forces; Iraqi assumption of command and control over Iraqi forces; and transferring responsibility for security to the Government of Iraq.

The Iraqi Government has made progress on its ambitious reform agenda. On October 10, the Iraqi Council of Representatives (CoR) adopted a new foreign investment law. The CoR also passed a federal regions law on October 11 that will allow Iraq's provinces to hold referenda to merge themselves into larger federal regions. This law is to come into effect in 2008. In addition, a Constitutional Review Committee was established on September 25 to explore options for amending the Iraqi constitution.

Progress continues as well on the International Compact with Iraq, an Iraqi initiative to create a new partnership with the international community and build a strong framework for Iraq's continued political, security and economic transformation and integration into the regional and global economy. The final Preparatory meeting took place in Kuwait on October 31, and the Compact was endorsed unanimously by the Iraqi Council of Ministers on November 26. This Compact is expected to be finalized by early next year, we hope, with broad and active international support.

Despite progress on these fronts, security remains a grave concern. Sunni insurgent attacks against the Iraqi Security Forces and MNF-I remain at high levels, and the forces continue to experience attacks from armed Shia groups, especially in the Baghdad region. At the same time, sectarian violence, much of it directed toward civilians, has increased.

Security Situation

Mr. President, insurgents, extremists and terrorists continue their attacks. The ongoing violence continues to take a toll on the country and its people. The number of attacks increased 22 percent over this reporting period, attributed in part to a spike in violence during Ramadan. Fifty-four percent of all attacks occurred in 2 of Iraq's 18 provinces, Baghdad and Anbar, although violence was significant in Diyala province and in the cities of Kirkuk, Mosul, Basrah, Al-Amarah, and Balad. MNF-I and Iraqi Security Forces continued joint efforts to address security in Baghdad and Basra.

More Iraqi units are taking the lead in combat operations against the insurgency. In October the 4th Iraqi Army division planned, coordinated and executed an Iraqi*-controlled, division-level operation in Kirkuk in response to the spike of vehicle-borne improvised explosive devise attacks just prior to and during Ramadan. The operation was the first division-level plan executed under control of the Iraqi Ground Forces Command headquarters.

The rise of sectarian violence has become the greatest threat to security and stability in Iraq. Approximately 80 percent of the sectarian violence in Iraq happens within a 35-mile radius of Baghdad. In response to the worsening situation, Iraqi Prime Minister Maliki announced a four-point plan on October 2 to unite Shia and Sunni parties in his government behind the drive to stop sectarian killings that have plagued the country. The Iraqi Government has also sponsored a series of four reconciliation conferences across Iraq aimed at promoting a national dialogue and soliciting recommendations for action.


Two meetings of tribal leaders and civil society have already taken place. In October, the Organisation for the Islamic Conference hosted a gathering of Sunni and Shiite religious leaders in Mecca, which called for the end to sectarian bloodshed in Iraq.


While infrastructure attacks have decreased, they average one per week and hamper the provision of essential services, such as electrical power, water, and fuel. These ongoing attacks and the difficult security environment are impediments to improving the supply of these essential services. The Iraqi infrastructure will continue to be a high-value target for disruptive elements.

Iraqi Security Forces

Mr. President, the Multinational Force in Iraq continues to train, develop, and contribute to the capabilities and readiness of Iraqi Security Forces. Iraq is making progress in building security forces that are capable of independently combating insurgents and fighting terrorists. The security forces of the Ministry of Defense and Interior continue to increase in size and capability, and are increasingly taking over leadership roles in fighting insurgents and terrorists. On September 21, MNF-I transferred Dhi Qar Province to provincial Iraqi control, putting security responsibility in the hands of the Provincial Governor and his local police force of 10,000. MNF-I continues to support and assist the Iraqi Security Forces as they move toward conducting fully independent operations and achieving security self-reliance.

The number of counter-insurgency operations conducted independently by Iraqi forces as a percentage of total combat operations continues to increase steadily. One hundred and six Iraqi Army and Special Operations battalions and 11 Strategic Infrastructure Battalions are now conducting counter-insurgency operations, with 98 battalions assessed as capable of taking the lead in operations or operating independently.

The Iraqi government, alongside MNF-I, has identified a force structure to maintain a security environment that will provide a basis for transitioning Iraq to security self-reliance. The authorized end-strength force structure of the Armed Forces is 137,500 personnel, including one Iraqi Ground Forces Command, 10 divisions and 36 brigade headquarters, 114 Army and Special Operations Battalions, 17 Strategic Infrastructure Battalions, six Air Force squadrons, three navy squadrons, and 19 combat support battalions.

The Iraq Ministry of Interior, with the assistance of the MNF-I, has begun a multi-phased National Transformation Plan to assess National Police Battalions' current capabilities, reinforce police training, and establish practices for continuing education of the police forces. The end-strength force structure for all Ministry of Interior forces is 188,200 trained and equipped personnel manning two division headquarters, nine brigade headquarters, and 27 combat battalions. The force structure plan is designed to enable a stable civil-security environment that leads to a democratic and representative government, and a prosperous economy.

As of November 13, six Iraqi Army division headquarters, 30 brigade headquarters and 91 battalions have the security lead in their areas of operation. These numbers reflect approximately 70 percent of the Iraqi Army. The MNF-I has transferred 55 of the 110 forward operating bases to Iraqi control.

Mr. President, the United Nations continues to play a crucial role in Iraq's stability and development. The UN Assistance Mission in Iraq (UNAMI) is providing important expertise under its mandate, which was extended in August 2006 for another year (UNSCR 1700). Due to security concerns, the UN has recently decided to temporarily reduce staff positions in Baghdad. A robust UNAMI presence remains essential to supporting Iraqi efforts, including on national reconciliation, Constitutional Review and future provincial elections. Also, a UNAMI presence will be crucial in taking forward work on the International Compact, jointly with the Government of Iraq. In addition to Baghdad, the UN has limited representation in Irbil and Basra. MNF-I continues to assist UNAMI and to help UNAMI achieve its goal for a full, robust and secure presence in Iraq.

Multinational Forces, notably the Georgian, Romanian, and South Korean contingents, continue to provide security for the United Nations in Baghdad, Basra, and Irbil, respectively. These troops provide static site security, reconnaissance, security patrols, convoy escorts, checkpoints, and, when necessary, MEDEVAC and emergency evacuation. Contributions to the UN Distinct Entity Trust Fund will ensure continued support for this critical security function. Under a separate UN agreement, Fijian troops also provide static and close-in protection for UN personnel and facilities in Baghdad.

Conclusion

Mr. President, the implementation of Iraq's National Reconciliation Plan will be an important component in the government's efforts to build a united country. Concerted efforts to control the sectarian violence and confront the insurgency remain critically important to Iraq's future. Training and equipping of the Iraqi Security Forces continues, and we anticipate a continued process of transferring security responsibility for specific areas from MNF-I to the Iraqi authorities. MNF-I continues to support the Iraqi government as it prepares to assume full responsibility for the country's security.
Iraq's stability and security is a regional issue, as well as an international issue, and Iraq's neighbors have an important role to play. We call on the entire international community to support Iraq's sovereign government and assist efforts for a democratic, united and prosperous Iraq.

Released on December 11, 2006

Statement on the Situation Concerning Iraq

Cheers!
DayDream

Raising the value of the dinar against the dollar by the Central Bank, welcomed by economists
12 December 2006 (Iraq Directory)

Many specialized economists in finance and monetary considered raising the rate of the dinar against the dollar sale by the Iraqi Central Bank an important step to control the volume of inflation.

They emphasized the importance of raising the interest rate up to 12% to curb inflation, which would lead, in the short term, to stabilize the price prevailing in the Iraqi market.

A depression and confusion in the stocks of selling and purchasing the dollar in most of the banking stores in Baghdad may accompany this procedure. Thus, it is necessary to follow up this dangerous turn in the Iraqi capital market. In press statements, a number of those concerned emphasized the importance of this remarkable step towards reducing inflation, raising the value of Iraqi dinar and reducing prices of goods and services.

The minister of planning, Ali Ghalib Baban, said that the Central Bank's decision, which came after extensive study, aimed at encouraging capital owners as well as the citizens in general on saving.

On his part, Governor of the Central Bank, Sinan Shabibi said that: "The aim of the Central Bank currently is limited in the fight against inflation, which reached about 76% and reduce its heightening, through the provision of better conditions for economic development, improving the performance of the banking sector and providing stability in it".

Shabibi said that among the reasons of inflation is the increase in cash circulation, which made it necessary to follow a new monetary policy, aimed at improving the dollar's exchange rate towards reducing its price several points in the auction, organized by the Central Bank every day to sell the dollar, to withdraw currency from circulation.

Director General of Researches at the Iraqi Central Bank, Dr. Madhhar Mohamed Salih, said: the Iraqi Central Bank is responsible, according to the law No. 56 of 2004, for dealing with inflation and reduce its levels. This principle forms the main objective adopted by the monetary policy in performing its duties. Accordingly, the Central Bank must set the priorities of its policies; meaning, the monetary policy to fight inflationary activities using the tools available.

He pointed out that monetary policy faces intermediate variables or objectives that show the relationship between the impact of these variables to reduce the general level of prices and the containing inflation.

Among these variables are the stabilizing interest rates "the long-termed" and the stabilizing or real exchange rate.

It is noted that these variables can not be controlled directly, unless they are targeted by similar variables which are considered as signals or informative means used to influence stability in the cash market. Among these signals is what is known as the interest rate of the Iraqi Central Bank; it is an indicator price which is considered as a compass influencing the behavior of interest rates and determining what the Central Bank lends to banks, and what banks deposit in the Central Bank.

Whatever the sources of inflation were, it is, in the end, considered to be a monetary phenomenon. Accordingly, the priorities of stability are necessary to build and stimulate the economy.

Thus, inflation is the main reason of speeding up money circulation and spending them, leading to less demand for cash and more demand for goods and services. In order to maintain the cohesion of demand and maximize cash levels in order not to turn into strong spending on goods and services, all the Central Bank had to do is to use its tools in raising the interest rate to stimulate the interest rate structure and maintain the coherence of savings and maximize their purchasing power which will help monetary policy to deal with the high levels of liquidity and contain it within the cash or " banking" market, without becoming a cash bloc drifted towards commodity and services.

In light of what have previously been mentioned, several questions arise: Can the Central Bank procedure curb inflation and control the volume of cash? What is the use of raising the level of interest against the high prices?

Economists stressed the importance that the Central Bank will continue this approach to curb inflation, which now threatens the stability of the entire situation in Iraq, including security, social and economic situations.

The observers speculate that the rise in the value of the Iraqi dinar against the dollar would reduce inflation and revive the economic situation of Iraqi families, who has suffered greatly because of the high rate of inflation, which is the cause of deteriorating the level of savings as well. Thus, the Central Bank had to take this action, which many observers consider it a step towards a comprehensive reform of Iraqi economy.

Raising the value of the dinar against the dollar by the Central Bank, welcomed by economists | Iraq Updates


Increasing the exchange rate is the approach to curb inflation according to economists and they stressed to continue this. Also now the inflation is 76% again and yesterday 50%??

They are planning to set the real exchange rate.

RV HERE WE COME!!
WWWWWEEEEEAAAAAAAAAAHHHHHH!!

Originally Posted by MrsCK

HOLD UP FOLKS THIS IS A REPEAT WITH "NEW" DATE!!!
Those sneeky buggies over there are doing reprints of old stuff.

Exactly and they are trying to hide that they are ready and the bomb is gonna burst.