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

Originally Posted by GK";150086]Iraq's official exchange rate or par value is still 2.53 SDR, and will stay that way until the current sovereign/internationally recognized government decides to propose a new par value to the IMF. The IMF members will have to vote on it. The current CBI published exchange rate or basis for the exchange rate is still the "program exchange rate" under the IMF program. The first program exchange rate of 1460 was set by the IMF with approval by the CPA under Iraq's EPCA agreement. The second/current program exchange rate of 1500 was set by the IMF with agreement from the Iraq transitional government (note the word transitional, not sovereign or internationally recognized) under the IMF SBA. I wouldn't even classify this as a de facto exchange rate, since there's no such animal. So at present, the official exchange rate of the IQD is still 2.53 SDR, but the program exchange rate is 1500. The only basis I believe for the 1500 exchange rate is the 15:1 Heavy Dinar recommendation to the UN back in 2003. At this rate, we're talking about differences in decimal points. Starting with no fils (1500) to 100 fils (15) to 1000 fils (1.5). At the program exchange rate of 1500/$1, that's equivalent to 15IQD : $.01 with no fils. Very well planned by geniuses.[/QUOTE]



[QUOTE="GK";150096]The weird thing is that it seems like everything [B][COLOR="Blue

revolves around the number "15" when it comes to the IQD.[/COLOR][/B] I think it's pretty obvious, subtle but obvious if you pay close attention.

All that you have said just seems to fit nicely with what I posted last night!
With me not having too much incite into the 15:1 Heavy Dinar to which you spoke and my theory about the 1500 being the "official exchange rate" so often referred to, I believe in a roundabout way you and I have gotten to the flux of what the CBI is up to! "15 is the key!" Excellent posts GK!

Cheers!
DayDream

(CNN) -- The Iraqi Prime Minister Nuri al-Maliki during the inauguration of the national reconciliation conference Saturday that reconciliation is the road that will determine the new Iraq and that his government rejected turning the country into an arena for settling accounts regional and international levels.

.Al-Maliki said that the Iraqi army officers opens doors to the Baathists who were demobilized during a former Iraqi army, those blood-stained hands the Iraqi people, as called for a review of uprooting the Baath.

In the latest in a series of consultations to promote "national reconciliation", meets Iraqi political forces in the capital Baghdad on Saturday to discuss a number of issues with a view to promoting stability in the country and to promote the rule of law in the meeting, which is attended by former Ba'thists.

A spokesman for the conference, Nasser Al-Ani, to CNN that the conference, with about 250 people inside and outside Iraq, will discuss a number of issues, including the armed militias and the presence of foreign troops and the re-army officers dismissed for their jobs and the expansion of political participation.

The invitation was Baathists and former officers of the Iraqi army who live in Jordan, Egypt and the United Arab Emirates to attend the conference.

However, Ani expressed doubts on the participation of the Baathists in the conference because of the security situation.

On the other hand, emphasized Abbas Bayati, the Secretary-General of the Islamic Union for Iraqi Turkmen and member of the National Assembly of the United Iraqi Alliance, Sadri trend participation in the conference along with Baathists and proactive officers in the Iraqi army disbanded.

Al-Bayati said that the conference would discuss the return of tens of thousands of those included in the law abolishing the Baath Party to their jobs.

He said that "the Baath as a prohibited under Section VII of the Constitution, but the Baathists as individuals will have to attend at the conference."

He added : "The Conference will hear the opinion of the position of former Baathists and it is, therefore, will expand the circle of reconciliation to include officers from the former Iraqi army."

It is noteworthy that the tens of thousands of former Baathists excluded from the Iraqi army and public posts under the law abolishing the Baath Party in the aftermath of the fall of Saddam Hussein's regime in 2003.

In the continuum, said White House spokesman, Gordon Jondroi, that the American President George W. Bush held a conference via closed-circuit television, with Iraqi Prime Minister Nuri al-Maliki.

The contact after marathon round of talks last week, President Bush had with senior officials in his administration to find a new strategy in Iraq, Bush also met with a number of Iraqi officials in Washington.

He said that Jondroi Maliki told President Bush that aims to improve security in Baghdad by targeting "all sources of violence," including the rebels and militias.

According to the source, Al-Maliki, speaking on the outline for the national reconciliation conference aimed to find a political solution to the wave of sectarian violence that grind Iraq recently and raised fears of a civil war.

The spokesman said that Bush reiterated during the meeting, which lasted 30 minutes, support for the owners.

And on the security front, said a statement issued by the Iraqi army that elements of the special forces arrested suspects linked to relationships with leading figures in al-Qaeda in Iraq, during a campaign begun in the city, "Fallujah" this week.

The statement said the detainee was involved in the "planning attacks coordinated small arms, explosives and car bombs against Iraqi security forces."

He was arrested six other suspects in the same security operation, according to the Iraqi army.

And so, Iraqi police found the body of 12 new one for a child of seven years old in the town of Baquba on Friday, according to Iraqi sources.

The sources revealed that three of the victims were army officers and that one of them died Nhara.

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Cheers!
DayDream

Originally Posted by Hope Full

from over there!

CDR CHOP
Investor

Join Date: Jun 2005
Location: Bahrain
Posts: 12
Final ISX trading on 18 Dec
I submitted a stock purchase request and received the below email. I like the idea of getting a complete stock portfolio mentioned in the email.



Dear xxxxx,

Your stock order will be executed in Monday's trading session dated 18th of December 2006 and once completed my ISX department will provide you with your complete stock portfolio.

Just a few lines to keep you updated, the ISX will hold its final trading session for this year on Monday the 18th of December 2006. It will hold its annual end year general meeting finalizing its working procedures preparing for next year's trading session 2007. The ISX will resume its trading activities on the 8th of January 2007.

Best and kind regards,

M
__________________

Maybe I'm wrong but it seems to me these people take more holidays/vacations than anybody nowonder they can't ever freakin get anything done. JMHO.

Voices of Iraq Sadr City-raid (by the first) Saturday, December 16, 2006 8:47 AM-BT
The American army entered the Sadr City and killed unarmed and arrested six others
(In addition to the American army statement)
Baghdad - (Voices of Iraq)

The American army said today, Saturday, that one person was killed and another was arrested six others during a raid launched by the American army last night in Sadr City, east of the city of Baghdad in search of the leader of a cell of armed.
The American army said in a statement received news agency (Voices of Iraq) independent copy of the Iraqi forces and the coalition forces under the supervision of the night today, Saturday, "to break into Sadr City to arrest the leader of an armed group believed to be responsible for armed operations launched in the areas north east of Baghdad against civilians and Iraqi security forces."
The statement added that the process resulted in "the death and injury of another armed conflict and the arrest of six suspects."
The American army had been implemented during the last period, a number of armed operations in Sadr City, the stronghold of the Mahdi Army and the American Army that the process comes in the context of the search for the leader of an armed group linked to the incident of abduction of the American soldier who was arrested by one of the city of Baghdad, several months ago.
The American army has intensified in the last few weeks of the raids in Sadr City, particularly after the increase in the charges against the militias based in Sadr City, where the headquarters was killed and the arrest of a number of persons.
The statement said that the information available on the person sought, "indicating that he directs and manages the armed group of a hundred people carried out armed operations against civilians and government forces, including abduction and murder. The booby cars and explosive devices and mortar attacks targeted a number of areas in Baghdad, in addition to the memorial checkpoints and illusory in Sadr City targeting civilians. "
The statement added that the attacking forces had "the least that can damage sites targeted by the neighboring areas. There were no casualties against civilians or members of the attacking force. "
Eyewitnesses said residents of the town of al-Sadr said that the operation was carried out by the American forces "and participated by helicopters dropped paratroopers air."
Witnesses had spoken earlier of a raid by the joint American and Iraqi forces to Sadr City at dawn today, Saturday, which resulted in the arrest of a number of civilians and lasted for more than an hour, also talked about the number of dead and wounded among civilians.

Get 'er done boys!

Cheers!
DayDream

Sectarian and Ethnic Lines in Sand Stall Provision of Iraqi Oil Law

By EDWARD WONG
Published: December 15, 2006

BAGHDAD, Dec. 14 — Iraqi politicians and ministers are divided along ethnic and sectarian lines over a critical provision in a proposed national oil law, according to the country’s oil minister.

If the differences can be bridged, the draft could be unveiled soon, the minister, Hussain al-Shahristani, said this week.

The oil law, along with security, is considered a prerequisite for attracting the foreign investment that Iraq’s oil sector desperately needs.

The law would set guidelines for development contracts for as many as 60 oil fields in the country, Mr. Shahristani said in an interview.

The law is also a crucial step in the process of national reconciliation, American and Iraqi officials said, because it sets out rules for the equitable distribution of the country’s oil wealth. That, in turn, could ease tensions over granting greater autonomy to Iraq’s regions.

Sunni Arabs, who dominate the oil-poor areas of western Iraq, have opposed regional autonomy because they believe they would not get a fair share of the country’s oil wealth, which is concentrated in the Shiite south and the Kurdish north. Although agreement has been reached on the sharing of oil revenues, representatives of the main Sunni Arab, Shiite and Kurdish political blocs remain at odds over the issue of control over contracts to develop oil fields, Mr. Shahristani said. The representatives sit on a committee that is reviewing a draft of the law written by the Oil Ministry.

The sticking point is regional versus central government control over the contracts. The Sunni Arabs want the central government’s Oil Ministry to negotiate and approve development contracts, while the Kurds want the regional governments to have those powers, said Mr. Shahristani, a conservative Shiite. The Shiites fall in between; they say the law should permit each region to negotiate its own contracts, but they want the contracts to be subject to the approval of a proposed Federal Oil and Gas Council, Mr. Shahristani said.

American officials here have been increasing pressure on the Iraqis to present a draft of the law, and perhaps even approve it, by the end of the year. In its report, the Iraq Study Group said that an equitable distribution of oil wealth was necessary for national reconciliation, and recommended that the central government keep control of revenues and oil fields, to the chagrin of the Kurds, who insist on maximum autonomy.

Once the oil law is in place, the federal council will announce a round of bids for the development of fields that have been identified but are not producing, Mr. Shahristani said. Iraq has 80 known fields, 20 of which are producing oil and will be developed by the Iraq National Oil Company, he said. Development of the others would be offered up for bids.

Oil contracts signed with foreign companies by Saddam Hussein’s government would be reviewed by the federal council to see whether they should be honored or scrapped, Mr. Shahristani said. The various parties have agreed that oil revenues will be allotted to the regions through the central government’s budget process, he said.

That means the central government would be able to use money to finance its needs before giving the rest to the regions. Earlier in the negotiations over the oil law, the Kurds had insisted that the revenues be automatically divided and distributed to the regions first.

Sectarian and Ethnic Lines in Sand Stall Provision of Iraqi Oil Law


We read yesterday that from the beginning of the new year 60 fields will be developed!

This thing must be ready by now, like Adster said I hope they will announce it this weekend!

The first political :Muqtada al-Sadr : I am innocent of all Shiites, Sunnis killed
Mr. al-Sadr said in a statement distributed yesterday, Friday, praying in the mosque of Kufa that he is innocent of those who follow the sectarian killings, adding that I am innocent of all Shiite kill Sunnis, and nothing kills a Shiite Sunni all, and doing so is the enemy of God. Promise of what is happening in Iraq aggression of the occupation, and followers of Altkverein Alafqah, all communities of Iraq, it is not stretching his hand to the Sunni and Shiite vice at all. His chest if I diligent and Welcome to the advisory opinion of Aftet and without hesitation, the inviolability of the killing of our Sunni brothers in Iraq and abroad. Mr. al-Sadr announced his support for the conference in support of the Sunnis in Iraq and said that it wants to lift them from the scene of occupation and the Baathists Alafqah and some of the Nasb Sunnis hostility to Muslims We live in a unified Iraq, and we seek to my community integrated.
For their part, demanded Friday preachers in the mosques of the city of Ramadi, all the political blocs turn the page on the past and careful attention to the interests of the Iraqi people of all persuasions. The Sheikh Ismail al-Hiti, in front of the mosque imam, Sheikh Abdul Jalil, the center of Ramadi blocs, which meets today, Saturday, the holding of political alliances that would save the country from the grave security situation, which has become the country. He criticized al-Hiti calls made by some elders of Saudi support Sunnis in the event of civil war in Iraq, saying that the civil war that took place, God forbid, they will not stay and will not anything that the Iraqis brother is no difference between that supports any Muslim Sunni or Shiite, and demanded al-Hiti, the people of the governorate of young people to engage in the security of the army and police to protect the security of their families and their country and not Angerarham behind the unidentified bodies do not want them or Iraq good.

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Cheers!
DayDream

Iraq To Meet Iran, Kuwait On Cross-Border Oil Fields -Min
12-14-06 13:04ET

ABUJA, Nigeria -(Dow Jones)- Iraqi officials are to meet representatives from Iran later this month and Kuwait after that to discuss sharing oil production contracts in cross-border fields, Iraq's oil minister said Thursday.

Speaking at a press briefing on the side of a Organization of Petroleum Exporting Countries meeting here, Hussein al-Shahristani said: "We will meet in a sitting committee...with Iran in December" to examine data on the fields.

Al-Shahristani added the parties will then "select a company in a bidding round to assess the reserves."

Separately, Al-Shahristani said some $1 billion of a $1.6 billion loan granted by the Japan Bank for International Cooperation would be invested in a new fluid catalytic cracking unit at Basra's refinery.

An FCC unit produces lighter products such as gasoline from heavier crude fractions.

He said some of the loan would also be used for a new pipeline and floating terminal in the Gulf and the processing of gas, which is currently flared off.

In addition, the minister said he expects a new hydrocarbon law, which would enable the signature of the first national oil contracts since the overthrow of Saddam Hussein, to be enacted in January.

He said all contracts signed under Saddam and since would be reviewed.

The new contracts would be overseen by an Iraq Petroleum Council that will define the rules of licensing qualifications as well as which companies could prequalify.

He said most details of the law had been agreed with the Kurds in the oil-rich north, who controversially have set up a separate licensing process, though there remained sticking points on the council's decision procedures.

http://www.iraq-war.ru/article/112261


WWWWWEEEEAAAAHHHH!!

I bet you that they mean 1/1/2007

They have 15 days to complete everything!

Originally Posted by kiko

Iraq To Meet Iran, Kuwait On Cross-Border Oil Fields -Min
12-14-06 13:04ET

ABUJA, Nigeria -(Dow Jones)- Iraqi officials are to meet representatives from Iran later this month and Kuwait after that to discuss sharing oil production contracts in cross-border fields, Iraq's oil minister said Thursday.

Speaking at a press briefing on the side of a Organization of Petroleum Exporting Countries meeting here, Hussein al-Shahristani said: "We will meet in a sitting committee...with Iran in December" to examine data on the fields.

Al-Shahristani added the parties will then "select a company in a bidding round to assess the reserves."

Separately, Al-Shahristani said some $1 billion of a $1.6 billion loan granted by the Japan Bank for International Cooperation would be invested in a new fluid catalytic cracking unit at Basra's refinery.

An FCC unit produces lighter products such as gasoline from heavier crude fractions.

He said some of the loan would also be used for a new pipeline and floating terminal in the Gulf and the processing of gas, which is currently flared off.

In addition, the minister said he expects a new hydrocarbon law, which would enable the signature of the first national oil contracts since the overthrow of Saddam Hussein, to be enacted in January.

He said all contracts signed under Saddam and since would be reviewed.

The new contracts would be overseen by an Iraq Petroleum Council that will define the rules of licensing qualifications as well as which companies could prequalify.

He said most details of the law had been agreed with the Kurds in the oil-rich north, who controversially have set up a separate licensing process, though there remained sticking points on the council's decision procedures.

Iraq To Meet Iran, Kuwait On Cross-Border Oil Fields


WWWWWEEEEAAAAHHHH!!

I bet you that they mean 1/1/2007

They have 15 days to complete everything!

Great find kiko, you da man.

Though this is a couple of days old, it appears to be a little bit better translation.
And again if this version is a repeat, please ignore it.




Raising the value of the dinar against the dollar by the Central Bank, welcomed by economists
Some considered it an important step towards reducing inflation
12/12/2006
Source: Translated by IRAQdirectory.com
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.

World Bank contributes to the identification of impediments to the development of the Iraqi housing sector
14 / 12 / 2006
(MENAFN) joined the World Bank Group (IFC - the private sector arm of the group, and the International Bank for Reconstruction and Development) to the United Nations Conference on Human Settlements in the announcement of the final report of the results of a housing sector in Iraq.
This has been done during the workshop held in Amman with the participation of representatives from the public and private sectors and the Iraqi institutions involved.

The housing needs to increase significantly in Iraq, where an estimated deficit in this sector more than one million housing units, is expected to double the housing needs due to population growth and the exodus of the population to the cities.

This study establishes the most important obstacles facing the sector with a focus on the cities of Mosul and Irbil, Najaf and Nasiriyah. The study also made recommendations on how to increase the capacity of the sector to meet the future demand for housing and the creation of meaningful jobs.

Cheers!
DayDream