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

العربية نت | صÙ�Ø*Ø© مال Ùˆ أعمال

Originally Posted by $onedaysoon$

we need NOOZZ !!!!!!!


LEADING STORY

Al-Arabiya TV interviews Iraqi banking officials

Al-Arabiya TV interviews Dr Diya Khayyun, adviser at the Iraqi Ministry of Finance for banking affairs and former director general of Al-Rafidayn Bank on the banking sector in Iraq. Read

Noozz.com | IRAQ

will see if I can find it on another site aswell

Ensuring Economic Stability. USAID programs assist Iraq’s Ministry of Finance, COSIT, and Central Bank in meeting IMF requirements. These efforts are expected to return $480 million in the IMF Standby Agreement in December 2005 as well as debt forgiveness of $27 billion from the Paris Club in March 2006. Working with the Ministry of Finance, USAID introduced the new dinar to promote national unity and allow a functioning monetary policy. Currently, 4.62 trillion new Iraqi dinars are circulating.

Connecting Iraq to the Global Economy. The private sector is the engine for sustainable job creation and economic growth. To help guide policy reform, USAID’s Investor Roadmap analyzes constraints to investment. The Investment Promotion Agency, recently established with USAID assistance, will serve as a resource to international investors. USAID worked with the MoF to develop a Competitiveness Study, helping integrate efforts to create a robust private sector that fosters job creation

Untitled

Originally Posted by $onedaysoon$

Ensuring Economic Stability. USAID programs assist Iraq’s Ministry of Finance, COSIT, and Central Bank in meeting IMF requirements. These efforts are expected to return $480 million in the IMF Standby Agreement in December 2005 as well as debt forgiveness of $27 billion from the Paris Club in March 2006. Working with the Ministry of Finance, USAID introduced the new dinar to promote national unity and allow a functioning monetary policy. Currently, 4.62 trillion new Iraqi dinars are circulating.

Connecting Iraq to the Global Economy. The private sector is the engine for sustainable job creation and economic growth. To help guide policy reform, USAID’s Investor Roadmap analyzes constraints to investment. The Investment Promotion Agency, recently established with USAID assistance, will serve as a resource to international investors. USAID worked with the MoF to develop a Competitiveness Study, helping integrate efforts to create a robust private sector that fosters job creation

Untitled

Huh??? 4.62 trillion? What happened to the 9T or 14T or all those huge @$$ numbers thrown about over on the dark side? Am I missing something?

Originally Posted by Inscrutable

العربية نت | صÙ�Ø*Ø© مال Ùˆ أعمال

connot find story on the link you gave, could you copy and past pppplease

Translated version of http://www.alarabiya.net/

Originally Posted by Vipor

Huh??? 4.62 trillion? What happened to the 9T or 14T or all those huge @$$ numbers thrown about over on the dark side? Am I missing something?

This is from when they changed over from the Sadaam Dinar.

Check out rumor from the darkside in rumors thread

Originally Posted by $onedaysoon$

Ensuring Economic Stability. USAID programs assist Iraq’s Ministry of Finance, COSIT, and Central Bank in meeting IMF requirements. These efforts are expected to return $480 million in the IMF Standby Agreement in December 2005 as well as debt forgiveness of $27 billion from the Paris Club in March 2006. Working with the Ministry of Finance, USAID introduced the new dinar to promote national unity and allow a functioning monetary policy. Currently, 4.62 trillion new Iraqi dinars are circulating.

Good find! Although this is dated from November 2005 still interesting that there doesnt seem to be a HUGE amount of dinar circulating out there. Does anyone know if Iraq supposedly put more dinar into circulation AFTER November 2005???

Originally Posted by Mike5200

This is from when they changed over from the Sadaam Dinar.

Nope this is referring to the current new Iraqi dinar!

Originally Posted by Pippyman

Good find! Although this is dated from November 2005 still interesting that there doesnt seem to be a HUGE amount of dinar circulating out there. Does anyone know if Iraq supposedly put more dinar into circulation AFTER November 2005???

I have this article but I can't find the date:
The Iraqi Central Bank... Six trillion dinars is the net mass of cash in Iraq.

An official source in the Iraqi central bank revealed that the net mass of cash in Iraq reached 6 trillions of Iraqi dinars. The size of circulating cash is 4 trillions dinars.‏
And the source said that the central bank seeks now limitation of inflation that occurred in the time of bygone regime throughout random and unstudied mechanism Of the central bank and that caused a big rise in prices level.‏

He also clarified that the bank managed the reduction of inflation level through last April and hopefully a continuous work will cause eradication of more than 20% of inflation level in order that through coming five years the Iraqi economy enjoys balanced market with active economy.‏
And he pointed that the Iraqi economy is not submitted to budget but to total local product.
The bank now is capable of reinforcement the value of the Iraqi dinar with respect to other currencies.

( Translated from Arabic )
The Iraqi Central Bank. Six trillion dinars is the net mass of cash in Iraq - Iraq Business News
Thanks
CLM

WASHINGTON - As President Bush ponders how to salvage theIraq military campaign, business minds at the Pentagon are moving ahead with a part of the equation - fighting Iraq's unemployment and trying to boost its economy.


Under a new program, the Defense Department is already helping reopen factories that were owned by Saddam Hussein's government and abandoned by occupation authorities shortly after the 2003 U.S.-led invasion. The Pentagon may also start providing them with contracts to support U.S. troops.
One factory restarted operations in the last two weeks, and nine more are to open by the end of this month, adding some 11,000 Iraqis to employment rolls, a Pentagon official said Wednes0sday. The official spoke on condition of anonymity because the information had not been released yet.
Pentagon officials declined to identify the facilities for fear they or their employees could be attacked amid the country's increasing violence.
Reopening factories that produced everything from cement to buses for Saddam's regime is among the ideas that have been discussed by Bush as he struggles to find the way forward in Iraq after nearly four years of war.
Bush is expected to announce a new Iraq strategy next week. He is widely expected to say he wants to send additional U.S. troops there.
Military commanders have long seen employment as one of the keys to slowing the violence. The idea of restarting factories differs from some previous reconstruction efforts that have had limited success in that it's aimed at providing long-term employment for factory workers as opposed to short-term jobs that came with individual rebuilding projects.
The Pentagon formed a task force six months ago that has identified some 200 factories - producers of textiles, industrial equipment and other goods - that could be restarted.
Paul Brinkley, deputy undersecretary of defense in charge of business modernization efforts, said in a recent interview that putting idle Iraqis back to work should help calm violence because it will leave fewer disgruntled men willing to plant bombs or commit other crimes for money.
"I believe there's an indisputable correlation between peoples' livelihoods ... and unrest, civil unrest, social unrest," he said.
Iraqi unemployment is thought to be from 20 percent to 60 percent, with inflation above 50 percent. More than 1.5 million Iraqis, mostly professionals, are believed to have fled abroad, according to the U.N. and the bipartisan Iraq Study Group, which recommended a new Iraq strategy to Bush last month.
Officials hope the factory reopenings will be the first wave in a series of restarts that will stretch throughout the next year to restore jobs lost after the 2003 invasion. At that time, occupation officials of the U.S.-led Coalition Provisional Authority decided to do nothing with the government facilities, hoping they would quickly be taken over by the private sector.
Privatization of the businesses never happened as violence gripped the country and disrupted the economy. But if the factories start producing and become well-functioning enterprises, that could be a step toward any privatization effort the new officials may decide upon.
Under the new program, private as well as government factories would be restarted. The American military expects to be among the customers for some of the restarted operations.
"We buy a lot of items, all kinds of items," such as cement and furniture, Brinkley said. "We import a portion of that. But if there are Iraqis who make things that we can buy, it just makes lots of good sense to buy it from Iraqis ... to stimulate the economy, build good will."
The U.S. military is spending more than $100 billion annually for the war. Brinkley said he hopes to spark the Iraqi economy by funneling some of it to newly restarted factories.
While the average worker in American supports four people, the average Iraqi workers supports 13, Brinkley said.
"For every Iraqi you put back to work, it has a huge cascading effect," he said.

Pentagon Helping Restart Iraqi Factories - Examiner.com