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

Voices of Iraq: Kurdistan-Visit
Posted by: saleem on Friday, December 22, 2006 - 12:54 PM

Kurdistan-Visit
Barazani returns to Kurdistan from month's visit to Baghdad
By Abdul-Hameed Zibari
Arbil, Dec 22, (VOI) – Iraq's Kurdistan Region President Massoud al-Barazani returned home after a one-month visit to the Iraqi capital Baghdad to attend consultations with Iraqi parties to probe ways to ameliorate security conditions in Iraq.
A statement by Kurdistan presidency received by the independent news agency Voices of Iraq (VOI) on Friday said "Barazani had in Baghdad talks that dealt with ways to improve a tough security condition in Baghdad and other areas in Iraq and also with Kurdistan's commitment to the political process in the country."
Barazani, according to the statement, has exerted efforts to set up a national front but no final announcement was made in this respect.
"There are agreements that meetings should continue in the same manner in order to hammer out an agreement among serious parties committed to a democratic federal Iraq," the statement noted.
Barazani had started his Baghdad visit on November 24.
AE

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 $3500 is an estimate of the individual Iraqi's share of the one third portion of oil revenues that is to be distributed to the people. The federal/regional governments will use the other two thirds, taxes, loans, etc. to get the 41 billion for their budget.

Originally Posted by ErelisLT

Very well said. And another point I want to add...doesn't the demand really controls the rise of dinar??? I would think that this recent rise of dinar would increase the demand for it and would raise it's value automatically. Am I wrong?

I'm not a financial expert. But I would expect that after they implement the FIL and the HCL, all the investing into the country will force the value of the dinar to rise very quickly. I just don't see how they can possibly expect to survive as a country with a slow gradual rise of the dinar.

Iraq tribes 'taking on al-Qaeda'

Pacifying Anbar is a tough challenge for the US and Iraqi forces
A group of Sunni tribal chiefs in Iraq say they have caught more than 100 al-Qaeda members in recent months.
The tribal chiefs in the Iraqi province of Anbar joined forces in September in an attempt to defeat al-Qaeda.

They set up the Salvation Council for Anbar and claim to have reduced the numbers of weapons and foreign fighters coming into the area.

The restive Sunni dominated area has been a centre of activity for foreign jihadis linked to al-Qaeda.

We are fighting the terrorists because they have caused the violent chaos in the country... they are killing innocent Iraqis

Sheikh Faisal al-Goud

The head of the council, Sheikh Faisal al-Goud, told the BBC, however, that there were still thousands of al-Qaeda fighters operating in al Anbar province alone.

"We are fighting the terrorists because they have caused the violent chaos in the country, the instability. They are killing innocent Iraqis and killing anyone who wants freedom and peace in Iraq," he explained.

He said that he believed the organisation was responsible for about 30% to 40% of the insurgency in Iraq.

The sheikh said some of the al-Qaeda fighters and weapons came from neighbouring Arab countries, Syria and Saudi Arabia mainly, but some were from more distant Arab countries and from Afghanistan.

Disunity

The big, lawless, largely Sunni province of Anbar, in western Iraq, is one of the key battlegrounds in the insurgency - and pacifying it is one of the toughest challenges facing the American military, BBC Middle East analyst Roger Hardy says.

Among the many armed groups active there - who include former Baathists and criminal gangs - is the Iraqi wing of al-Qaeda.

The group's claims to have killed or captured al-Qaeda fighters are hard to verify, our correspondent says.

Last month they said they had killed 55 fighters in a raid on their stronghold.

Driving a wedge between local Sunnis and the extreme jihadists of al-Qaeda has long been an aim shared by the Americans and the Iraqi government.

But in a sign of how disunited the Sunnis are, a prominent Sunni figure considered close to the insurgency - Sheikh Harith al-Dari of the Muslim Scholars' Association - has criticised the tribesmen as bandits fighting what he called the resistance.

Iraq negotiates with American companies to build an oil refinery near Karbala
المصدر: الزوراءSource : Zawra
22 / 12 / 06

Disclosure Under the Iraqi Oil Ministry, Ahmed To urge, that the ministry is currently negotiating with the company «ABB hit a raw», «Hao company Wacker and the company« »» Stiank American, as well as one of the Iraqi companies with a view to the construction of a refinery Mesopotamia, in the governorate of Karbala bounties south of Baghdad.

To urge explained that the ministry had asked the companies mentioned some adjustments to the presentations before it, pointing out that these amendments technical, commercial and related amounts for the implementation of the project and develop methods and clear of contract. He added that this project would be subject to approval by the Council of Ministers after the termination of negotiations for ratification.

Al-To urge that the project (which is the largest in the region), and an annual design 140 thousand barrels of crude oil, will provide all types of derivatives to a number of Central provinces in which it is located.

He expected Undersecretary of the Ministry of Oil in the direct implementation of the project in the first quarter of next year and that implementation will take three years, and will cost $ 2 billion global art techniques for building oil refineries.

He pointed out that the refineries in Iraq has suffered from benign neglect for many years, it was not built a refinery in Iraq since the mid-1980s. Therefore, the Ministry has prepared a plan to build a number of refineries various sizes in all governorates.

Translated version of http://www.alzawraa.net/home/index.php?option=com_content&task=view&id=4880&Ite mid=73

Originally Posted by Tigger1

Just a thought, IF there is no revalue, I could accept the slow rise of 100 points per month......it would just take longer to get to the 1-1. Roughly 13.6 months.

20 YEARS..........I think not!!

A week, month, year, it will come........eventually!

I agree that is a rediculous thought 20 years hah!

That said and I'm not a fan of this thought process either, but lately @12-13 ticks an auction surely moves the mark quicker than that infact the ticks need to become greater in level as time went on until the real level is acheived and i would consider that the market would determine that level.

However, there does not appear at least to me to be enough dinar in circulation for the CBI to continue the exercise we have watched day to day while they micro-appreciate the currency.

No the political climate cannot be underestimated IMO.

Plus how long will Iraqis put up with 2.73 USD per gallon of fuel without purchasing power? What are they intending, to put tenfold levels of currency into wheelbarrels or red wagons in tow to the fuel station? There are Multiples of reasons why the publicly stated words recently are hog wash.

Here is what bothers me, if someone presents a seemingly logical conversation and plugs numbers into the discussion, if you don't know any better they will lead you down their primrose path and steal every ounce of hope you have. Well I say to that.

To all those depression models I say Captain Iceberg dead ahead.


High RV and very soon.

Weird....Notice the date?


The Oil Sector - The Iraq Study Group Report
Source: Gulf Oil & gas: Middle East & Africa oil & gas e-Marketplace 1/1/2007, Location: Middle East

Crude Oil

The Oil sector is one of the major factors driving the US policy in Iraq. The following section describes the major recommendations provided by the Iraq Study Group Report: Since the success of the oil sector is critical to the success of the Iraqi economy, the United States must do what it can to help Iraq maximize its capability. Iraq, a country with promising oil potential, could restore oil production from existing fields to 3.0 to 3.5 million barrels a day over a three- to five-year period, depending on evolving conditions in key reservoirs. Even if Iraq were at peace tomorrow, oil production would decline unless current problems in the oil sector were addressed.

Short Term
RECOMMENDATION 62:

• As soon as possible, the U.S. government should provide technical assistance to the Iraqi government to prepare a draft oil law that defines the rights of regional and local governments and creates a fiscal and legal framework for investment. Legal clarity is essential to attract - investment.

• The U.S. government should encourage the Iraqi government to accelerate contracting for the comprehensive well work-overs in the southern fields needed to increase production, but the United States should no longer fund such infrastructure projects.

• The U.S. military should work with the Iraqi military and with private security forces to protect oil infrastructure and contractors. Protective measures could include a program to improve pipeline security by paying local tribes solely on the basis of throughput (rather than fixed amounts).

• Metering should be implemented at both ends of the supply line. This step would immediately improve accountability in the oil sector.

• In conjunction with the International Monetary Fund, the U.S. government should press Iraq to continue reducing subsidies in the energy sector, instead of providing grant assistance. Until Iraqis pay market prices for oil products, drastic fuel shortages will remain.

Long Term
Expanding oil production in Iraq over the long term will require creating corporate structures, establishing management systems, and installing competent managers to plan and oversee an ambitious list of major oil-field investment projects. To improve oil-sector performance, the Study Group puts forward the following recommendations.
RECOMMENDATION 63:

• The United States should encourage investment in Iraq’s oil sector by the international community and by international energy companies.

• The United States should assist Iraqi leaders to reorganize the national oil industry as a commercial enterprise, in order to enhance efficiency, transparency, and accountability.

• To combat corruption, the U.S. government should urge the Iraqi government to post all oil contracts, volumes, and prices on the Web so that Iraqis and outside observers can track exports and export revenues.

• The United States should support the World Bank’s efforts to ensure that best practices are used in contracting. This support involves providing Iraqi officials with contracting templates and training them in contracting, auditing, and reviewing audits.

• The United States should provide technical assistance to the Ministry of Oil for enhancing maintenance, improving the payments process, managing cash flows, contracting and auditing, and updating professional training programs for management and technical personnel.

Crude Oil: The Oil Sector - The Iraq Study Group Report

Economic reform : an important option and we benefit from global experiences


Participants at the Fifth Economic Forum of the Ministry of Industry and Minerals :
بغداد - ياسر المتوليBaghdad-Yasser incumbent
Economic researcher tried to allay fears of the effects of economic reform and methods of privatization and other aspects of social workers for the loss of their functions.

The expert in the industrial development, Huda Taha Ismail made to them, which is marked (the effects of economic reform on employment) to the symposium five special economic reform organized by the Ministry of Industry and Minerals, due to the importance of this issue we raised the ideas that came to this research to inform professionals and concerned and thus judge the pros and cons of the reform according influences.
Huda believes that the economic reform that includes all legislation, policies and actions that contribute to the liberalization of the national economy and distinction efficient him in accordance with market mechanisms, so as to enable it to recovery and prosperity, so as to facilitate its integration with the regional economies and integration in the world economy.
It was founded seeing this from a decline in the size of the state as happened in the interest of institutions nurtured the private sector and began to promote this development for a long time, especially with the emergence of privatization policies open and theoretical minimum, which is trying to replace the welfare state, where the concept of economic reform involves resolving many of the arguments and discussions about the identity of the economic system and many of the details, such as the role of the state and the relationship between the market and the social dimension of development.
Huda stressed that the views of economists and experts unanimously agreed that the current performance of Arab economies to Aitoakb with challenges to be addressed and the potential falls short of physical, human and full potential. Imposes performance of Arab economies in the current stage and the corresponding requirements for the future conduct of radical economic reform change from the current situation. Pointing out that the Arab states started since 1985 call for the privatization of some of the activities belonging to the State and so on the recommendation of the International Monetary Fund and other foreign aid, is among those States, the Republic of Egypt, Saudi Arabia, Oman, Jordan, Lebanon, Sudan, Algeria and Tunisia.
It hinted that the privatization procedures in these countries addressed some of the economic imbalances, especially in the payment of public sector debt and address the problem of budget deficit and help reduce the public debt and keep pace with the imposition of globalization, as well as the provision of additional job opportunities in each and reiterated that these actions to implement the recommendations of the IMF and the World Bank.
She said .. Also ... The reality of Arab economic growth rates are down at home and the deterioration of the national per capita compared to international indicators and the declining share of the Arab states in international trade, and the retreat of the region's share of foreign capital flows and investments, and the failure to generate sufficient employment opportunities for entrants in the labor market and high unemployment rates that are higher, with the increase in poverty in a number of western states.
The researcher, Huda to change this reality calls for a set of proposed policies for the region and programs of stabilization, privatization and economic liberalization, but stressed that the curriculum did not show enough subjects were just as important as unemployment and the provision of social services and support programs for small projects of the core elements of the concept of reform programs and with the clarification of priorities and emphasize the importance of the constitutional framework to achieve comprehensive reform to both the Economic and Social Council.
And on the social effects of economic reform (privatization) says ...
As might be achieved by the privatization of the positive results, there is imposed side effects had a negative impact on non-permanent in the short term and should take necessary measures to alleviate and work to eliminate them. She suggested that the most prominent effects of dispensing with the surplus labor in the public institutions that are being privatized.
It points out that this phenomenon as natural highlights the emergence of surplus labor because of the totalitarian regime during the past decades with the creation of jobs in public sector projects for job seekers from the graduates and others. What helped in the spread of disguised unemployment in the government sector, and, of course, it does not enable companies to be privatized to accommodate this large amount of employment.
They pointed out that the problem facing most countries in the state-owned corporations, but they returned and confirmed that the issue of surplus labor that will be phased must be seen from the perspective of unemployment situational negotiable deal where it is supposed to lead to privatization in the medium term and the long term, to create new job opportunities able to absorb the surplus labor. It also believed that the nature of the private sector to achieve growth rates, and surely much of the expansion of the public sector due to the absence of bureaucratic obstacles but that depends on the rehabilitation and training of labor surplus and high level of operating efficiency and the optimal allocation of available resources, pointing to a global test.
In this regard, such as Argentina, Chile and Malaysia. Expert in the industrial development also stressed that the program of economic reform policies and effective mechanisms to avoid extensive errors caused by the social and work to mitigate the social groups affected by the suffering of living through increased employment and the provision of social protection systems, stressing the need to be planning for the privatization process while ensuring a series of measures to prevent a surplus of workers in the nets errors.
Huda suggests some measures preventing an increase in unemployment is the most important seizure of part of the company's shares privatized and put it in an investment fund special owned citizens and workers who were driven from their work with the imposition of conditions and restrictions to trade in shares, and encourage workers to the establishment of a company or more must also be done by the company privatized organizing programs for vocational training and rehabilitation, and the financing of social funds in the framework of the amendment structural to provide the necessary funding for community development projects and the financing of small projects.
Participants in the symposium, during interventions and discussions agreed on the importance of this research and the need to adopt its recommendations.
Huda concluded that economic reform is an important option to raise production efficiency and the efficient allocation of resources but they pointed out that the success of privatization programs depends to a large extent address the negative social impacts on the role of the suffering of the poor and to raise the risks to social security.
It calls for the enactment of laws to provide proper controls to ensure competition, transparency and protect the interests of investors and consumers and to avoid the emergence of private monopolies and successive increases in the prices of public services which are harming the citizens and especially the low-income categories. It also recommends a review of educational programs in the light of the transition to a market economy and the high rate of unemployment among the educated youth. In order to develop education systems and improve output. The development of integrated programs for the rehabilitation of the unemployed and surplus labor, and the development of social security systems.
The search invitation to address the social impact of social security, economic stability and creating a favorable climate for attracting investments to finance the economic development process.

Translated version of http://www.alsabaah.com/

A bit old.......But good, just the same.


Iraq Prepares to Start Negotiations with World Trade Organization

18 December 2006 - Iraq achieved an important procedural milestone towards its World Trade Organization (WTO) accession bid on December 15, when the WTO General Council formally accepted the country’s nominee for the chairmanship of the Working Party charged with Iraq’s accession process. Ambassador Claudia Uribe of Colombia will serve in this position.

WTO Director General Pascal Lamy hailed the successful agreement on the Chair for Iraq’s Working Party as an “important step in the process of anchoring Iraq in the multilateral trading system” and noted that “the appointment of the Chair… means that the negotiations can now start in earnest.”

This acceptance opens the door for formal face-to-face negotiations to begin in Geneva with Iraq’s WTO Partners at the first Working Party Meeting, which can now be scheduled. “We look forward to working with the Government of Iraq to prepare for the opening of direct talks with the WTO counterparts, which marks a significant phase in Iraq’s accession process”, said Baljit Vohra, Chief of Party of the USAID-funded IZDIHAR project.

IZDIHAR has been assisting the Government of Iraq throughout the process of meeting the procedural requirements for convening the first meeting of the Working Party, such as completing the Memorandum on Foreign Trade Regime (MFTR) and the written “questions and answers”. In addition, IZDIHAR is assisting the Government of Iraq to undertake broad-based legal and trade policy reforms related to its accession into the World Trade Organization.

IZDIHAR News Highlights

Source : intermittent pumping oil from Kirkuk to the Turkish Ceyhan
Essam of Gibraltar
Kirkuk - (Voices of Iraq)

A source at the North Oil Company today, Friday, that the pumping of Iraqi oil, but continued intermittently from the northern fields in Kirkuk to the Turkish port of Ceyhan.

The source, who asked to remain anonymous, told News (Voices of Iraq) Independent that "Dah Iraqi oil from Kirkuk to the Turkish Ceyhan constant, but sporadically from time to time. Then resume pumping depends purely for technical reasons. "

He explained that "the export rate estimated to be between 250-350 thousand barrels per day, but the export process be different periods, and large amounts of Iraqi oil in the tanks are ready packing in the Turkish port of Ceyhan."

And stop pumping Iraqi oil from Kirkuk oil to the Turkish port of Ceyhan in 21 of the last month was the result of the compound focus Bmahma Arafa oil, the largest oil complexes in northern Iraq was attacked by unknown two missiles, which resulted in damage at the sub-distribution in the oil region.

2003 via the Kirkuk oil fields in oil continuous attacks that result affect oil installations and limiting exports to the Turkish port of Ceyhan on the Mediterranean Sea reality. Those attacks have resulted in loss of Iraq worth hundreds of millions of dollars.

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