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

Well, maybe a second one!
The first one is planned to be in the caribbeans, and it will take some time to get it in place in Iraq, and i cant wait that long for a party!!

with all thats been said and done have we got an actual date when this thing will peg? I thought it was going to peg around the 19th, Not mad, just curious any info appreciated., what does mike and adster say Ihave not heard from them lately
benzboy

Hi,

From previous postings it would surely indicate that with the increased fuel prices in Iraq that a peg will be coming shortly, is this not so??.

Could someone tell us who actually decides the peg. Here in the UK a committee meets every month to decide if the interest rate is to stay the same- is this the same in Iraq, does a specific commitee meet made up of certain people who then decide.

The Dinar changed in 2003 because Saddam's Government was shut
down. There is talk about 3 zeros being taken off of the Dinar
banknote. I don't see the Government of Iraq doing this.

Why? The answer is simple. Iraq's oil and natural gas supply is
brining steam back into Iraq's economy. There is no need to loose
trust with so many international investors.

What about the rumors you ask? Critics make money selling articles
based on chaos. I say filter the whole thing through a brain cell,
I did.

Your 25,000 Dinar note will be worth 25,000 Dinar in 10 years
multiplied by the exchange rate.

Regards,
Darren Chabluk
http://DrDinar.com/report


what is this dude saying ?
sent to me in email.

Saudis provoked to Invest in Iraq

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03 July 2006 (MENAFN)

During a visit to the Jeddah Chamber of Commerce and Industry (JCCI), Iraqi prime minister has urged Saudi businessmen to invest in Iraq, Arab News reported.

The prime minister has indicated that the security problems are not in all of Iraq, but rather they are confined to Baghdad.

The official has invited Saudi firms to seek contracts in infrastructure projects.

The Saudi businessmen wanted to deal directly with their Iraqi partners, which would reduce the cost of products and would benefit the consumer, Saudi official said.

The prime minister said that the diversity in Iraq's natural environment, people, professions and high level of education provided a wide variety of opportunities for successful investment.

Minister of Planning Outlines Economic Prospects

03 July 2006 (Baghdad: Al Sabah newspaper)

The Minister of Planning and Cooperation Development, Dr. Ali Galib Baban, has disclosed that oil industry development requires at least 30-40 billion dollars of investment in order to undo the damage of the last three years, and that the improvement in security conditions is connected to the reduction in unemployment, currently estimated at 30%.

During a press conference held at the Ministry, Baban said that Iraq is at the present time unable to release such large amounts of capital, either through foreign investment or through loans, as both already incur a huge cost on the fragile economy.

He explained that the fuel crisis is due to the difficult security situation, which has caused the major refineries to work at only one tenth of capacity, thus remaining unable to meet demand. In addition to this, there is the problem of smuggling, which includes the removal of both petroleum products and crude oil.

He continued by saying that gross Iraqi oil and non-oil exports for the year 2005 totaled about 24 billion dollars, marking a yearly increase of 31.8% over 2004, with total exports estimated at 18.6 billion dollars. The UAE occupied first position for exports receiving 37% of exports, followed by Syria at 33.%, then Jordan at 24%.

He added that the standard indicators for 2004 issued last June had disclosed a reduction of 5.1% in fruit and vegetable production, fisheries' production dropped by 14.5%, and agricultural production by 3.5 %, while there was an increase in animal production of 4.1% as compared to 2003.

Baban referred to the new investment laws currently being discussed by the Council of Ministers and the National Assembly, saying that the intended law will cover both local and foreign investment and allows for incentives such as land ownership by local investors and transfer of profits from Iraq.

He expects that the country is on the verge of a large investment bonanza, and has applied the most advanced technology available to the new administrative procedure, which will help both the public and private sectors in running new businesses and organizations.

Iran Expresses Willingness to Cooperate on Water Resources

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03 July 2006 (Baghdad: Al Sabah newspaper)

An authoritative source at the Ministry of the Environment has announced that Iraq and Iran have agreed to implement the measures necessary for a reduction in Iraqi water entering source countries.

The source told AL Sabah that an Iraqi delegation headed by the Technical Deputy Ministry, Toma AL Hellow, had, during a visit to Iran, succeeded in reaching an agreement to find solutions for the environmental problems facing Iraq as a result of difficult present circumstances, and that one of these is a noticeable reduction in its share of water resulting from the erroneous policies followed by countries of origin with respect to water entering Iraq from Iran.

The source confirmed the Ministry's determination to solve all environmental problems through the execution of a number of programs and agreements.

Iran expressed a desire to cooperate in all fields, particularly those related to the administration of natural resources and joint water resources, and the training of environmental teams, as well as offering technical-scientific assistance and data exchange.

Iraq has greatly suffered from the reduction in water entering its borders as both Turkey and Syria are also involved in this matter. The agreement with Iran is a step towards further agreements with these two countries.


Babel Governorate Obtains Financial Grant

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03 July 2006 (Baghdad: Al Sabah newspaper)
The governorate of Babel (AL Hilla) has obtained a new financial grant of 20 million dollars and is expected to use it on construction operations currently underway within the governorate, mainly within the services sector.

good finds raditz....keep them coming guys.....it looks like it won't be long now....GO DINARS...Pat

Hi gang, I was away for the weekend. We had a great time boating etc. with friends. I couldn't wait to get back to see what was shakin. I couldn't believe all the pages I had to get through. It is really cookin! Looks like it won't be long now!

Things the Iraqi Government is still having to overcome

Oil Corruption
The corruption has gotten to the point it is out of control according to the Oil Minister...
It seems everyone is on the take, from the refinery managers, field workers, and truckers...
It has become a loose network of insurgents,organized gangs,trucking unions, and corrupt officials who are bleeding $ millions daily from the Iraqi Government.
The smugglers of the oil can only make money if the oil is changed from crude to gasoline..
So the pipelines are left alone from the oil field to the refineries...the crude is then changed into gasoline...on the date and time the gasoline is to be sent down the pipeline to the refineries in the cities...they are blew up...when the workers show up...they are either kidnapped or killed...This forces the gasoline to be trucked, which was the purpose in the beginning...It is estimated over 30% of the Iraqi's gasoline is being smuggled daily back across the borders into Iran, Jordan, Syria, etc...

Unemployment
The unemployment rate is now at 60%. A large amount of the projects started have now closed down, due to the continued violence between the Sunni's and Shia Militia units...Note** the slow down is not from the insurgency...but induced by the likes of Al-Sadr the God Loves You Cleric...
The Sunni's walked out of the Governmental legislature the day before yesterday because of the kidnapping of one of their Sunni delegates...10 guess'es and the first 9 don't count on who it appears to be the blame for the kidnapping...Shia Milita King...Al-Sadr....
Why the new prime minister has not killed that sucker is beyond me..he is like a horse fly...always buzzing around distracting you from the task at hand...
Even the Iraqi first lady in a speech last week stated, they expect the unemployment rate to get even worse in the coming months. Especially in the southern and central parts of Iraq.

Some thoughts
It is going to take time to get the economic situation back in stride...but that is the true weapon against the gang activity, insurgency and lawlessness in certain areas...bring in prosperity so everyone has a chance to support their families legally, and we will see the violence slowly die down to a manageable level...the key ingredient is time...

I have been trying to find a date when the Iraqi Finance Minister is suppose to meet with the world bank, and CBI Officers this month...this should give us a indication or time line of the RV if it is approved...I do not believe the RV will occur before the meeting...so we are probably 2-3 weeks away from the meeting...