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

Originally Posted by H2O_Lover

hmmm you all sure about that date for the anniversary ?? I sure thought the dinar was released in the fall of 2003. I could be wrong as i am way more than i like to be

Originally Posted by CharmedPiper
I translated this from the arabic version on the CBI site. Notice the date of 1/11/2004.....tomorrow is 1/11/2007 exactly 3 years from the date....maybe something???

ÇáÓíÇÓÉ ÇáäÞÏíÉ

The Governing Council endorsed the Iraqi Central Bank to adopt instructions legal reserves. Will these instructions as of 1 / 11 / 2004.

im looking for the post where someone mentioned the 3 year thingy before this was posted. this deals with legal reserves of currency and the instructions of such and they were adopted on the 11th.

before this was posted i did read somewhere about the 3 year anniversary of something on the 11th dealing with the currency but it didnt say 'instructions of legal reserves'. i believe someone stated in the post that it was the actual 3 year anniversary even though the other date was mentioned.

Originally Posted by shotgunsusie

im looking for the post where someone mentioned the 3 year thingy before this was posted. this deals with legal reserves of currency and the instructions of such and they were adopted on the 11th.

before this was posted i did read somewhere about the 3 year anniversary of something on the 11th dealing with the currency but it didnt say 'instructions of legal reserves'. i believe someone stated in the post that it was the actual 3 year anniversary even though the other date was mentioned.

Just guessing but I think that it was the deadline for the exchange for the NID. It came out Oct. 15, 2003 and people had until Jan. 15, 2004 to exchange the old.

Originally Posted by mustang sally

Waiting for real, concrete results
ةBaghdad-Imad Principality

Witness the Iraqi dinar improved markedly these days about the dollar's exchange rate, the Central Bank of Iraq to attribute the cause of the recent measures adopted by the task of raising the interest rate

.In addition to the large amounts of foreign currencies in the market but a number of economists believe that these procedures were inadequate for the recovery of the purchasing power of the dinar is not accompanied by fiscal and monetary policies can achieve the required balance, it is expected expert at the Central Bank for improvement in the value of the Iraqi dinar with the decline in prices is gradually after two months from now.
.(Morning) followed these variables through exploring the views of experts and exchange of money and inspect the market continuing to determine the extent of the impact of these procedures.
We note that prices are still stable despite the recovery value of the dinar relatively. The reason that the traders publicly Basaarham old to make up for the losses which they may be exposed by it.
.There was some question need to answer around what the of actual forces that stands behind the deteriorating situations, or force in the exchange rates the Iraqi dinar on the important factors including, that the exchange rate of the Iraqi dinar determined practically in the exchange markets on the according to supply and demand factors Like the other goods and services, but that the demand for the foreign currencies longer a a derivative of the demand for foreign goods and services while the presentation of foreign currencies longer a reflection of a foreign request on the goods and services of Iraq, and considered experts economy reluctance of (monetary policy) on the address the great imbalances particularly in the market monetary and represented local currency liquidity and the increasing menaced and rising inflation rates in an accelerated manner revert undoubtedly a huge impact within the marketplace.
.These conditions in addition to the Iraqi economy for several strong shocks led to the structural imbalances in the structure of the Iraqi economy emerged as the negative results in the instability of the exchange rate of the Iraqi dinar and exposure to situations of weakness and deterioration, where it has become difficult to deal with the issues on the horizon, it must be a financial and monetary policy and clear-cut was aimed at stabilizing the country's economic situation

sounds like there are economists still worried about adjusting that dinar in a big jump and it affecting adversely but it is saying that so far the adjustments havent caused any trouble and in fact havent remedied as they were hoping they would. calling for additional policy to fix these things and no more mamby pamby.

[B]There's something happening here
Greg Richards

The Iraqi dinar continues its sharp move upward to its current record valuation (the new dinar was introduced in October 2003). And now, as cen be seen from the data on the website for the Central Bank of Iraq, the volume of dollars traded at these prices has surged(scroll down to the bottom). In the last three days, volume traded in US dollars has been: $9 million, $14 million, $44 million. The $44 million is the highest volume since November, with the exception of one day in December.


A tile in the Iraq mosaic. We don't want to panic now (a) based on an insufficient appreciation of what may be happening in Iraq in terms of an improving economy and (b) at what may be a critical turning point. John McCain offers an impassioned plea for more troops (see Powerline) and outlines their mission.

/theres_something_happening_her.html]American Thinker Blog: There's something happening here

I think Marek needs a big pat on the back for everything that has been done especially the last few days to keep the Rol Club forum up and running smoothly. I know it can be a hugh task messing with spyware, hackers, etc. I hate messing with that stuff that is why my wife does all that. So Marek THANK YOU and keep up the tremendous job!!

I bought some dinars on Friday from chase at the rate of .00088650...Went to the bank just a while ago and the rate is now .00086380....... Why the decrease????????

Hunter

Minister of Trade announced that the cruise would be held in high vocabulary

(Voice of Iraq) - 10-01-2007
This issue was sent to a friend

The Republic of Iraq
Council of Ministers-the governmental communications
Media Relations
Press Release Press release /
Wednesday 1-10-2007

Minister of Trade announced that the cruise would be held in high ration card items this year in terms of quality and quantity

The Minister of Trade, Dr. Abdel Sudanese farmer that the ministry had prepared well for the new year in terms of providing the food basket of our work now flowing to provide high quality and quantity through the selection of the best global origins.

He added, in a press conference held in the Cabinet Office, in which he reviewed the the most prominent achievements of the ministry and its activities different commercial, and that the provision of vocabulary the ration card was a function of the ministry task in this circumstance, and that more than 29 million an Iraqi covered by new vocabulary this card and distributors on the forty thousand and Kell, adding that the ministry, and placed treatments and programs selfish to overcome all difficulties which occur as a result of the unstable situation in some regions of the country and Minister reviewed the quantities distributed a pan-regions of the country for thirteen article represent the ration cards mainstreaming, which ministry has deliver them from different regions of the world.

Originally Posted by CharmedPiper

Minister of Trade announced that the cruise would be held in high vocabulary

(Voice of Iraq) - 10-01-2007
This issue was sent to a friend

The Republic of Iraq
Council of Ministers-the governmental communications
Media Relations
Press Release Press release /
Wednesday 1-10-2007

Minister of Trade announced that the cruise would be held in high ration card items this year in terms of quality and quantity

The Minister of Trade, Dr. Abdel Sudanese farmer that the ministry had prepared well for the new year in terms of providing the food basket of our work now flowing to provide high quality and quantity through the selection of the best global origins.

He added, in a press conference held in the Cabinet Office, in which he reviewed the the most prominent achievements of the ministry and its activities different commercial, and that the provision of vocabulary the ration card was a function of the ministry task in this circumstance, and that more than 29 million an Iraqi covered by new vocabulary this card and distributors on the forty thousand and Kell, adding that the ministry, and placed treatments and programs selfish to overcome all difficulties which occur as a result of the unstable situation in some regions of the country and Minister reviewed the quantities distributed a pan-regions of the country for thirteen article represent the ration cards mainstreaming, which ministry has deliver them from different regions of the world.

could this be our 10,000 dinar handout we've been waiting for?
sarah

Iraqi finance official calls for halting compensation payments
10/01/2007
Source: Kuna

An Iraqi official said Tuesday his country has been paying five percent of the national revenue to Kuwait as compensations for the losses incurred during the 1990 invasion by the former regime of Saddam Hussein.

The First Consultant to the Iraqi Finance Minister, Dr Aziz Muhammad Jaafar, who was explaining his country's 2007 national budget, said USD 1.5 billion have been set aside for payment of Kuwait's post-war compensation.

"The five percent compensation was imposed on Iraq by the United Nations Security Council (UNSC)," the official said.

He added, however that Iraq's Finance Minister Baqer Jabr Solag had met with delegates of the UNSC permanent members in order to have the compensations waved off.

"We should not have to pay for the invasion cost, which was dear not only to Kuwait, but to us (Iraqis) as well," the official said.

He called on Kuwait to wave off the compensation payments as a "gesture of solidarity with the suffering Iraqi people." Another official, Haidar Al-Ibadi, who heads the Iraqi Parliamentary Economy Committee, also called for dropping the compensation payments arguing that former Iraqi dictator Saddam Hussein was executed for his injustices and it was about time for the compensation payments to stop. He called on countries that supported Saddam to help absorb some of the compensation payments.

http://www.iraqdirectory.com/DisplayNews.aspx?id=2912

Iraq oil to be decided by oil council
10/01/2007
Source: Earth Times

An Iraqi Oil Ministry official said a special oil council will determine the fate of oil resources -- within the constraints of an oil law.

Although an oil law has not been approved yet, news reports over the weekend suggested a deal between factions had been reached.

The council will oversee oil resources nationwide, said Asem Jihad, spokesman for the ministry, the Kuwait News Agency reports. Drafts of the debated federal hydrocarbons law mentioned such a council.

The council's task is to develop oil fields and supervise and approve oil projects and deals to be hammered out with foreign companies, Jihad said. The council is to be the top oil watchdog in Iraq as it will work out and run the country's oil policy.Despite having the world's third largest proven reserve pool, production barely reached 2 million barrels a day last year, more than a half million below pre-war levels.

Security is a major saboteur of the oil infrastructure, further blocking improvements.

But without a law governing who is responsible for signing contracts for current and future oil fields, there has been little investment in the sector aside from the relatively stable Kurdistan region in the north.

Oil revenue supports nearly the entire federal budget, reinforcing the need for development in a sector that has been rundown by misuse and little upkeep, as well as sanctions and war.

The Kurds and some Shiite groups supporting more of a regional control over future oil sources had been in deadlocked negotiations with Sunnis and Shiites that wanted a strong central control.

News reports say a compromise deal will be unveiled soon.

As for the council, Jihad didn't say who would be named chair, but pointed to either Prime Minister Nouri al-Maliki or Borham Saleh, Maliki's deputy for economic affairs, as likely contenders.

The council will be made of representatives from the regions, as well as oil, finance and planning ministries, and the Central Bank of Iraq.

http://www.iraqdirectory.com/DisplayNews.aspx?id=2913