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

Originally Posted by flygirl1

Hey Tif, and Choochie, I created a monster!

They better be careful, because when Raddie comes back you know he is gonna .

All I can say is "IT WASN"T OUR FAULT RADDIE, I SWEAR!"

Originally Posted by karinc

I'm not sure if we are allowed to copy posts from other forums...but I'll take the risk! This is too good to not pass along!

"I have been assured there will be no zeros coming off the currency
Obviously xxxxx you were not on the chat forum yesterday to here my reply to the whole zero lop idea. I talked to the iraqi ambassador in France yesterday who has been in touch with the vice president and the vice PM the day before and this ambassador Mr. abude is a personal friend, met him in Vienna during Sadams riegn in 2000. He assured me there will be no zero lop as everyone is discussing and that is all the info I am going to give out."


(http://www.iraqidinarinformation.com...0637#post60637
post 26)
/Karin

Thanks Karin,
Hopefully that puts some minds at ease.

Originally Posted by rodney ewalt

If that's correct, then, that must mean that they have smaller denominations in circulation and even if that was 300 US dollars per week, who could live on that unless the cost of living was equally proportionate.

It makes me wonder how they purchase goods and sevices now, if their wages are that low. I sure would like to know more on this subject.

Interesting,

As I recall, in 2003 it was $60. a month and now it is $200. a month.

Good luck to all, Mike

Originally Posted by tim410

Yes Neno, it does say it will raise the value. Which it is raising its present value 1 dollar = 1 dinar, but the statement three zeros off the dinar is the question.

I guess the way it sounds is that $1 US is worth 1,477 ID, so 10,000 ID is worth lets say $6.70 US at the present rate/value. If 10,000 became 10.00 ID= $10.00 US. they would have revalued it to 1:1

Do you get my point or am I confusing the rest of ya?

I'm so confused?? Too many 000's I guess

Hey tim410, sorry I was having funn with the postings above. Seriously now. Just my opinion. I dont believe they are talking about the printed Notes. I really believe they are talking about the value 0.00068 which will be like 0.68 and then to 1:1 and now with all the other reports coming in this morning maybe even back upto 3.33 to 1 Dinar in the furture.

Again I am no expert here. But I have read and now follow this whole Thread. Not to mention read all the links that are given to us. Put it like this. With what I see and am believing, I am desperatly working on another mill or two asap or before the begging of Sept.

Remember I am not the expert here.

Originally Posted by karinc

I'm not sure if we are allowed to copy posts from other forums...but I'll take the risk! This is too good to not pass along!

"I have been assured there will be no zeros coming off the currency
Obviously xxxxx you were not on the chat forum yesterday to here my reply to the whole zero lop idea. I talked to the iraqi ambassador in France yesterday who has been in touch with the vice president and the vice PM the day before and this ambassador Mr. abude is a personal friend, met him in Vienna during Sadams riegn in 2000. He assured me there will be no zero lop as everyone is discussing and that is all the info I am going to give out."


(http://www.iraqidinarinformation.com...0637#post60637
post 26)
/Karin

Again here tim410 you will see that they are not talking of taking the actual note and crossing out the three zero's. It will be the value in some short of way done. most resent rumor or statements is 0.00068 change to 0.68 and then on to 1:1

Also karinc, No worries of posting other post from other places. It is not a rule of this thread. Your cool and great post.

http://translate.google.com/translat...&hl=en&ie=UTF8
A dialogue-Yasser acting Secretary sanctuary
Minister of Finance (morning)
Under the draft National Reconciliation
Detection and Finance Minister Mr. Jabr Al statement revealed a profile of the direct economic programme lasting government which would be reflected in the 2007 budget. He was the first modern press after Astizarh Ministry of Finance : The budget will be the first quality they will be under a government elected durable.

The features of the new plan include the expansion of the tax base does not increase and the re-evaluation of property and real estate state and the sale of many of them and the Ministry intends to support and assist the citizen to allocate land plots housing is outside the boundaries of municipalities, according to the controls established in coordination with the Ministry of Municipalities.
Asked about how to expand the tax base and increase the non-citizen said : We have a list of businesses not covered by taxes and seek coverage as an example mobile-phone companies which reap billions of dollars annually for a handful of dinars have no value.
Taxes on businesses
He questioned the minister why does not impose taxes on these companies in Iraq at the time amounting to revenues Lebanon from taxes on companies mobile-phone worth $ 3 billion dollars annually, as well as in the case of Egypt, where obtain a value of $ 6 billion annually from taxes mobile-phone global and reiterated questioning why not do the Iraq example of these States?
He added. We have a long list of the companies covered by this tax to obtain funds to support the budget that source only oil sales, pointing out that 97% of the budget of Iraq depends on oil and this does not exist in any world economy, even in countries Gulf oil, the sources of funding for their budgets to multiple manufacturing and Els Naat other taxes.
On a question about the need for Iraq to the new laws and regulations to implement this programme and plan.
Al said : I believe that all of our laws gives us the power to move a window to implement the ambitious plan that have been established for the year 2007.
Q : But reform mechanisms required by the agreement with the International Monetary Fund have negative effects on the social level?
This question, the Minister of Finance said that the International Monetary Fund seeks as far as possible should not be balancing consumers money oil but sought to be Iraqi funds consumed in the investment volume of operating funds so that the consumption of oil funds strained budget and placed a burden on the citizen according to the minister's opinion, but the opinion that the size of the investment funds push Iraq towards development and progress of this vein, the policy of the International Monetary refuses to be budget-consuming, not only have no work investment.
Real support for the network of social protection
He said : I am at a meeting with the IMF noted that the Fund is supporting the fund a network of social protection, which we believe is important to continue to support and, accordingly put in the principles of the policy in 2007 to support and increase real support network of social welfare which are citizens below the poverty line, pointing out that the Ala Lakh document with the International Monetary Fund have enabled us to write off debts.
Support citizen
Al talked about the reform of the banking sector stressing perceptions Advance endure this sector of reluctance and failure in the banking operations, pointing out meeting with managers of banks, urging them to the need to establish a policy of recent banking clear sophisticated able to support citizen who suffers is the other weakness of the efficiency potential of the material.
He said that the future will activate and develop the performance and activity of the banks in the various sectors of commercial, industrial and real estate for a comprehensive study on the development of the Land Bank and supporting the Rafidain Bank in order to enable citizens to carry out projects that require advances because his salary limited to fill needs.
In the question of (morning) When you, Mr. Minister acknowledged the limited salaries of the citizens to see what Al is improving living staff?
The minister stressed that talk about the standard of living is Concerns He can not magically increase the salaries of staff Yakha inflation and a clog budget because any increase in amounts of money caused considerable damage to the budget in 2007.
But that Sathrk prepared to support the volume of investment funds that would help create hundreds of thousands of jobs armies of the unemployed during 2007.
He said : We will support a strong implementation of investment plans Territories, which amounted to 2 billion dollars Snzidha next year and I have heard and holistic satisfaction that some of the governorates where more than 30 projects, I believe that we must create new jobs and I am not with the creation of job opportunities through employment in the State, but through the private sector. The wages of the private sector becomes better than the public sector.
* Hadithk understanding of the context, the trend is towards a free economy, this is the general framework of the government's economic?
- Yes, he is also
And the direction of another, he said : I can solve problems payroll I know that some staff had been in the injustice of the hierarchy because of the different ministries applications such peace. Having outlined articles (morning), with and I will do my utmost to consolidate peace salaries but we need time to be consolidated.
Theme retirees
Asked about the law and retirement worries retirees
Zubaidi said that the law on the retirement of the Transitional National Assembly has already indicated that the Ministry of Finance transition gaps. I think that this subject has been long overdue and we are waiting for the termination of adding the first day began with the Ministry of Finance met with the Directorate General of retirement and asked to expedite the completion of instruction and study in this regard.
The minister pointed out that the IMF has raised some problems about the retirement law Vbacherna re-examine this law in order to overcome some of the gaps that have occurred that caused the injustice of some staff who provide substantial services to Iraq and the Iraqis.
He warned that the continued application of this law would constitute a significant burden on the state budget, explaining that the volume of funds that acted annually under this law more than 2 billion dollars annually, and that would be borne by the state budget if we add them 3 billion dollars to import derivatives of oil and $ 4 billion card ration so as to arrive Almbl G. to over 10 billion dollars, these funds constitute a financial burden as I mentioned, and then there is a pressing need to examine these matters ... This is what we call the IMF and agreed to re-examine the law to ensure the right of retiree pension and to ensure the right of the State alike.

{The following is the section that shows in Arabic at the bottom of the page you’ll have to copy and paste this portion and translate it separately if you wish to double check}
----------------------------------------------------------------------------------------------
Turning Minister to the foreign debt of Iraq and $ 125 billion, indicating the completion of the write-off 80% of Iraq's debts in respect of Paris Club debts after resolving the issue of Russia, where we negotiate with, and debt relief and to resolve the matter by reducing the amount of 13 billion dollars to 800 million dollars. He explained that the remainder of the debt and the Paris Club of Egypt, China, Turkey, Poland, has been asked Ambassador in Paris negotiation. And debts between the Gulf Minister that he was subject to the Saudi Minister of Finance, Mr. Ibrahim Al Assaf during a visit to the kingdom, and it was agreed to send a high-level experts to study the issue of debt. And the expectation that the Gulf states Al sister Akram will be from the Paris Club to extinguish Iraq's debts in full. Activate insurers He called Al Iraqi press to reactivate its role in creating awareness of insurance companies and the activation of the national insurance all their activities. But the companies have withdrawn from the market due to the lack of coverage of the potential of major incidents in Iraq and recorded a failure to perform? The minister said : we activate the role of life insurance companies, money, cars, fires, accidents, He gave an example of the Minister fires Alcheorgh as traders believers got their money rewarding compensation and have demonstrated their awareness of the importance of some traders insurance. Therefore, we do insurance companies and their role in support of the citizens and the national economy, insurance civilizational phenomenon. Financial support of the draft National Reconciliation Asked (morning) on the role of the Ministry of Finance of the State of the initiative of the Prime Minister Maliki initiative of national reconciliation? Jabr Al statement said the Finance Minister. I'm initiative launched by the chairman of the Council of Ministers brother Maliki my personal belief of the bloodshed of Iraq and wish to re-Iraq united people and their land, and as Minister of Finance will spare no effort to support this initiative, both in the area of compensation approved by initiative victims or any paragraph came Balmb bulletin. 3 zeroes lifting of the Iraqi dinar In the morning, a question that the write-off of debts of Iraq will contribute to enhancing the value of the Iraqi dinar? Mr. Zubaidi said the statement. The value of the Iraqi dinar for monetary policy, such a policy is the responsibility of the Iraqi Central Bank, the Ministry of Finance is responsible for fiscal policy. He added, but suggested that Mr. Governor of the Central Bank Dr. Sinan Shabibi need to raise the value of the Iraqi dinar and return to normal through the lifting of three zeroes. Voadeni Mr. Governor well to hold an expanded meeting next month to study the proposal by experts in this area of the Iraqi Central Bank, Ministry of Finance and Commercial Bank, namely, the proposals to get the value of the Iraqi dinar equivalent of [to] the American dollar, this goal we will strive to achieve, God willing, during the four years Llahkom e due to the new Iraqi dinar healthy stand of the other currencies. Lastly Zubaidi corresponding reference to the International Monetary Fund to support the resolution Iraqi dinar remarkable considering that the Central Bank of Iraq financially cover $ 11 billion dollars to support the value of the Iraqi dinar and the cover is rarely found in the third world. Thereby taking morning two hours from the time the minister and exited the impression that the new plan will live up the economy of Iraq to the level of developed nations if we wrote them success and support by the government and parliament although gaps Retirement Law remained vague and needed to be clarified more and this will deal with in another meeting with Mr. Alos Ware-neno
------------------------------------------------------------------------------------------------

My take: One, the Iraqi government is saying that Private investment is going to lead the way in creating jobs in Iraq thereby solving [hopefully] the unemployment issue. They have a budget for 2007 that is relying on foreign investment funds therefore foreign investment must happen prior to 2007 in order for Iraq to reap the benefit. So the FI Law must be in the pipeline now [we have seen reports to this effect already]

Also the most important part for our concern says RAISE THE VALUE of the dinar and return to NORMAL meaning they are acknowledging that the current value of the Dinar is artificially low. The lopping theory doesn’t accomplish this. Only lifting three zeros off the exchange rate fits the bill.

According to the article they are meeting next month [July 2006] to discuss the proposal and to get the Dinar to the value equivalent to the USD. It further says that the IMF supports the idea and that the Iraqi dinar has shown remarkable stability for four years [2003-06] and that this stability is rare in the third world.

Conclusion: Revalue on the fast track prior to foreign investment law. This is the year and maybe this coming month. Looks like .68 minimum up to equal value. I almost expect it.

Originally Posted by neno

Again here tim410 you will see that they are not talking of taking the actual note and crossing out the three zero's.

Thanks Neno!

Agreed,

All that I have read, in any language all say the same thing, the value of the dinar must rebound to former levels to the dollar, and it will start at .68 and be allowed to rise to ideal interim level of $1.00, which should be accomplished rather quickly once the foreign investors start pouring billions into the economy and unemployment is under control. The point that I like most was the fact that Iraq currency is one of the most stable in region, and reserves are far greater than others in region.

Good luck to all, Mike

I took this from pipshurricane's post. I also Bolded it above, hope that is cool ph. Anyways, as we all have been reading this artical and that one. Look at this. It is all said right here in one part of ph's post. Great Find ph. This talks about the three 0's (0.00068 to 0.68) the equevalent to the American Dollar (1:1) the future value (3.33:1) in four years which is 2010. All this right here rolled up in one paragraph. Read!! Read!! Read!!.

Originally Posted by pipshurricane (part of the post)

3 zeroes lifting of the Iraqi dinar In the morning, a question that the write-off of debts of Iraq will contribute to enhancing the value of the Iraqi dinar? Mr. Zubaidi said the statement. The value of the Iraqi dinar for monetary policy, such a policy is the responsibility of the Iraqi Central Bank, the Ministry of Finance is responsible for fiscal policy. He added, but suggested that Mr. Governor of the Central Bank Dr. Sinan Shabibi need to raise the value of the Iraqi dinar and return to normal through the lifting of three zeroes. Voadeni Mr. Governor well to hold an expanded meeting next month to study the proposal by experts in this area of the Iraqi Central Bank, Ministry of Finance and Commercial Bank, namely, the proposals to get the value of the Iraqi dinar equivalent of [to] the American dollar, this goal we will strive to achieve, God willing, during the four years Llahkom e due to the new Iraqi dinar healthy stand of the other currencies. Lastly Zubaidi corresponding reference to the International Monetary Fund to support the resolution Iraqi dinar remarkable considering that the Central Bank of Iraq financially cover $ 11 billion dollars to support the value of the Iraqi dinar and the cover is rarely found in the third world. Thereby taking morning two hours from the time the minister and exited the impression that the new plan will live up the economy of Iraq to the level of developed nations if we wrote them success and support by the government and parliament although gaps Retirement Law remained vague and needed to be clarified more and this will deal with in another meeting with Mr. Alos Ware

-neno


Question. Dont mean to sound stupid. But I dont know what IMF means. Is it Iraqi Ministry of Finance?

I believe it's the "International Monetary Fund"...