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

Originally Posted by yardbird

Frathouse, I took it that jessemac was referring to the BAD forum, not ROL.

LOL....ok, if that's how he meant it them please stay. If not keep going.

Well, I didnt click the link to that site, but when I try to read the threads farther down than the stickies here, I get automatically redirected to that site for registration. Getting bad vibes....

So I log off the site and come back and all is well...hmmmm

Originally Posted by Jetsa

So I log off the site and come back and all is well...hmmmm

Umm I dont think that deserves a thumbs up, maybe some investigating by the mods as to how this could have possibly happenned.

Originally Posted by mountaingirl

posted by "anaconda dinar shiek" from iif




41 billion dollars, the volume of the budget for 2007

--------------------------------------------------------------------------------

Iraqi Minister of Finance, Baqer Jabr Al-Zubaydi, announced that "No change in the 2007 budget, which is fixed at 41 billion dollars", but he indicated "transfers and distributions will be made so that the new budget will cover all sectors of the Iraqi people to avoid the mistakes that happened in last year's budget, and the confusion that happened in the implementation of investment projects".

After the economic committee meeting under the chairmanship of Vice-President Adel Abdel Mahdi, the Iraqi minister revealed that "new conditions are put to punish the parties who fall behind in the implementation, then withdraw the funds that have not been spent and convert them to the implementation of large projects in the country".

Regarding the amendments to the salaries of governmental employees at the beginning of next year, Azzubaidi announced: "400 million dollars have been allocated to make the necessary adjustments to the salaries of the employees. The increases would range between 50 and 70%, and each employee will get the increase he deserves, starting from the beginning of next January".

Azzubaidi pointed out that 2007budget "will be set at the rate of 1260 dinar to the dollar and 50 dollars per barrel of oil with the production of 1.7 million barrels a day". He explained that the Iraqi Central Bank "started raising interest rates from 12 to 16% now", pointing out that there are no immediate plans to continue raising interest rates.
He explained that the aim of raising interest rates is "to strengthen the Iraqi dinar, and curb the inflation of 56% now, as well as strengthening the confidence of Iraqis in the local currency".

So if every adult iraqi is to receive a $3500 annual pmt from the oil proceeds,
this comes to 3500 x about 12million adult iraqis at LEAST = $42B , or at least $1B beyond budget!

Next smoke and mirror....

Either that or the oil proceeds payments are bs...

Originally Posted by mountaingirl

posted by "anaconda dinar shiek" from iif




41 billion dollars, the volume of the budget for 2007

--------------------------------------------------------------------------------

Iraqi Minister of Finance, Baqer Jabr Al-Zubaydi, announced that "No change in the 2007 budget, which is fixed at 41 billion dollars", but he indicated "transfers and distributions will be made so that the new budget will cover all sectors of the Iraqi people to avoid the mistakes that happened in last year's budget, and the confusion that happened in the implementation of investment projects".

After the economic committee meeting under the chairmanship of Vice-President Adel Abdel Mahdi, the Iraqi minister revealed that "new conditions are put to punish the parties who fall behind in the implementation, then withdraw the funds that have not been spent and convert them to the implementation of large projects in the country".

Regarding the amendments to the salaries of governmental employees at the beginning of next year, Azzubaidi announced: "400 million dollars have been allocated to make the necessary adjustments to the salaries of the employees. The increases would range between 50 and 70%, and each employee will get the increase he deserves, starting from the beginning of next January".

Azzubaidi pointed out that 2007budget "will be set at the rate of 1260 dinar to the dollar and 50 dollars per barrel of oil with the production of 1.7 million barrels a day". He explained that the Iraqi Central Bank "started raising interest rates from 12 to 16% now", pointing out that there are no immediate plans to continue raising interest rates.
He explained that the aim of raising interest rates is "to strengthen the Iraqi dinar, and curb the inflation of 56% now, as well as strengthening the confidence of Iraqis in the local currency".

that 1260 keeps popping up.I hope they are not going to stop the dinar
apperication at that point.I would appericate anyones comments on this
thanks Ronnie

Originally Posted by crave681

So if every adult iraqi is to receive a $3500 annual pmt from the oil proceeds,
this comes to 3500 x about 12million adult iraqis at LEAST = $42B , or at least $1B beyond budget!

Next smoke and mirror....

Either that or the oil proceeds payments are bs...

the whole $3500 per Iraqi per year makes no sense as they said 1/3 of the oil revenues, approximately or 10 billion a year. How did it ever get to $3500 per Iraqi?

Originally Posted by rkpdwp

that 1260 keeps popping up.I hope they are not going to stop the dinar
apperication at that point.I would appericate anyones comments on this
thanks Ronnie

from the article: "He explained that the aim of raising interest rates is "to strengthen the Iraqi dinar, and curb the inflation of 56% now, as well as strengthening the confidence of Iraqis in the local currency".


1260 will do neither of these things in any appreciable or constructive way.
Just smoke and mirrors to keep out big speculation. imho.

Originally Posted by lndmn_01

the whole $3500 per Iraqi per year makes no sense as they said 1/3 of the oil revenues, approximately or 10 billion a year. How did it ever get to $3500 per Iraqi?

sorry I don't keep up with all the links but you're right. When HCL talks really started heating up it was said 30% of revenues, this 3500 just came out recently. I would lean more towards the 30% model, just my opinion, but Iraq wants to be a powerhouse not at a creampuff