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

The GULF REGION DIVISION (GRD) in cooperation with the Iraqi technical and engineering staffs carried out many Power, Health, Education and Paving Roads projects in Basra, Wasit, Nineveha & Najaf with total cost of 190 Billion ID.In Basra, work in (186 Billion ID) Khor Az Zubair Power Plant completed. The project consisted of adding two new power generation units to the existing four older units. The two new units have essentially doubled the output of the plant, adding approximately 5% more electric generation capacity to Iraq’s national grid benefits more than 200,000 Iraqi homes.In Wasit, reconstructing of Sheikh Sa’ad PHC with (891 Million ID) cost. Scope of work required installation of electrical and mechanical systems. As in Nineveh, construction is complete on the (420 Million ID) Ba’aweza Secondary School; The project built a new school with 18 classrooms and five administrative offices to house approximately 450 students. Meanwhile, in Najaf, construction is complete on the (2 Billion ID) Najaf Road Segment Paving project, the repaired and paved approximately 15 Km of rural roadway near Header area.

http://www.iraqigovernment.org/Conte...4_6_7_2006.htm

Just one of the stories from the link above.

Finishing his Visit to Kuwait:

· There is no military opposition, Iraqis elected their representatives in the Parliament along with constitution and government.

· National Reconciliation is a gate for stability; we need media and political support.



importance of finalizing things in obvious and transparent way to establish strong base of relations, especially debts, borders and stopped projects between the two countries. He said" we look forward to have help from brethren, because some world countries cut (80%) of the debts, so we wish to have our brothers help in this regard".

He affirmed that sayings of Kuwait to be part of Iraq is a Saddamic symphony, repeating this will lead us to the conspiracy idea, this subject is over now, we can't go back to this trivial logic, our doctrine now is to solve problems with any country according to international resolutions and satisfaction. In his response for remains of Kuwaiti corps, he said" we are ready to cooperate in all aspects of this subject".

As for the list of the wanted (41), he replied" we have information saying that Saddam daughter is supporting terrorism using money she stole from Iraqis, she is inciting terrorism. If she is a guest of Jordanian, then we appreciate their status, but they have to stop her support for terrorism. We are not intending to create crisis with Jordan, I was in my way to Jordan, but Iraqi situation stopped me from doing that right now. We asked brothers in Jordan to stop her support for terrorism.

Al-Maliki called to invest in safe regions saying that provinces in the middle and south of Iraq are ready for investment, maybe there is a problem within the investment law and its flexibility, but we will treat this problem through a law project within the Parliament.He replied for a question of civil war in Iraq saying" there are attempts to launch such war by different sides, but it won't happen because Iraqis recognized these sides as terrorists, if happened, it will torn the country apart, but this government prevent it.

A political side to terrorism is led by Baath party which uses money, experience and ability to move extremist groups along with gangs and mercenaries". He added" the re is nothing called military opposition, Iraqis elected lawmakers, constitution and government which deal with political issues and like to see US troops leaving. In fact, we need more US troops, we will be in a great danger if they left now, we have an agenda depends on our security forces progress".

He intend, in his plan to curb terrorism, to visit some neighbor countries which is used as bastions for terrorists, and some charitable institutes who works there fakely, but they really collect money for terrorists, he disclosed some institutes which recruit terrorists and send them to Iraq, he asked these countries to shoulder their responsibility for that.He said that the majority of detainees are Saudis and Syrians along with some Kuwaitis; he affirmed that this doesn’t mean that their governments sent them, because Saudi and Kuwait opposed terrorism. He hailed Kuwaiti support to peace and stability in Iraq.

He commented that abuses of some MNF members against Iraqis are not acceptable, he said that impunity they got made them dare to do such atrocities against Iraqis, so we must consider this impunity".

Deputy Secretary-General Malloch Brown visits Baghdad for talks on new compact
Mark Malloch Brown6 July 2006 – Deputy United Nations Secretary-General Mark Malloch Brown today conferred with Iraqi leaders in Baghdad on a new partnership with the international community, the proposed International Compact for Iraq aimed at consolidating peace and pursuing political, economic and social development over the next 5 years.
Mr. Malloch Brown, who arrived in Baghdad yesterday at the Government’s invitation, met with President Jalal Talibani, Vice Presidents Adel Abdel Mahdi and Tariq Al-Hashimi, Prime Minister Nouri Al Maliki, Deputy Prime Minister Barham Salih, and a host of key Iraqi political leaders and members of the international donor community.
The primary focus of the Compact will be to build a framework for Iraq’s economic transformation and integration into the regional and global economy.
Discussions focused on the Government’s setting up of a Preparatory Group, which it will co-chair with the UN, to help with preparations for the Compact with strong support from the World Bank in coordination with the International Monetary Fund (IMF) and other regional financial institutions.
It will include key members of the international donor community. The Preparatory group will report directly to Deputy Prime Minister Barham Saleh and the Mr. Malloch Brown.
“The Government of Iraq regards the international compact as a critical process for the country’s future development,” the UN Assistance Mission in Iraq (UNAMI) said in a statement. “The Compact will build on the achievements of the Iraqi people and provide an opportunity to develop a broader international consensus of support and engagement with Iraq to bring about its economic transformation and realize its best economic potential for the sake, wellbeing and prosperity of the Iraqi people.”

sounds good Mike, maybe he's there to make sure all of us dinaraholics are taken care of.LOL

ARBIL, 6 Jul 2006 (IRIN) - The parliament of Iraq's northern Kurdistan region unanimously approved a new investment law this week in hopes of luring foreign capital to the region.

“We hope the passing of this law will entice foreigners and locals to invest here so we can rebuild infrastructure in the areas of industry, agriculture and transportation,” said Dler Haqi Shaways, head of the Arbil-based Kurdistan parliament’s economic and financial committee. “This law will offer investors guarantees and facilities with regard to taxation and custom tariffs.”

Infrastructure in the region is badly dilapidated as a result of decades of war – first between Iraq and Iran, later between Iraq and US-led coalitions – and UN sanctions. The new investment law, therefore, will allow foreign companies to bring in the machinery and facilities needed for infrastructure projects free of taxes and custom duties. The legislation will also grant investors 10-year tax holidays upon completion of their respective projects

Before the unification of the region's two separate administrations – which had been run by two rival Kurdish factions – in May, two different investment laws had been applied. According to those regulations, foreign companies with projects in the region were only allowed to hold minority stakes, while majority shares went to local firms – a requirement that served to deter many foreign investors. Under the new legislation, however, foreign firms will be allowed to hold up to 100 percent of a given project.

Additionally, foreigners will also be allowed to own land, a provision opposed by many local economists. “Foreign companies must not be given the right to own property, because that would come at the expense of national sovereignty,” said Arbil-based economist Shamal Nouri. He conceded, however, that, in a country as volatile as Iraq, “You need to offer investors certain privileges to motivate them to invest”.

Ever since the US-led invasion and occupation of the country in 2003, the Kurdish region has been spared much of the bloodshed seen elsewhere in Iraq, leading a number of foreign companies to set up projects in the area. According to figures from Kurdish Regional Government officials, Turkish firms currently account for the lion’s share of investment, estimated to be in the hundreds of millions of US dollars.

According to the nascent constitution, the regional parliament is authorised to pass legislation governing the region’s internal affairs. In cases of a dispute between the central government in Baghdad and the regional government, according to the national charter, regional law prevails.

MS/AR/AM
http://www.irinnews.org/report.asp?ReportID=54443

I ran all the information I could think of from the news by someone who is much older and wiser than I am, a seasoned investor, and used to live in the middle east and europe. I asked a few questions just to see what this person's insite would be. Here is the responses I got to a few questions I asked. It's not word for word, but it's pretty close, and the basic ideas are there.

Q: Do you think that they will RV the dinar before they allow FI?
A: They have to.

Q: Do you think they will be straightforward with the reval, or try to lop zeros, and do any kind of reprint or anything funny?
A: It will be straightfoward, they will make it like the dollar or the euro.

Q:Have you ever seen a currency reval so high?
A: I have seen it before but this will be so high because they have the petrol.

we went on to talk about a lot of issues in Iraq, and I was told that Iraq will burn a lot of investors on down the road, but that as far as the RV is concerned that it will play out in a very straightforward manner. I seriously doubt that this person has any stake in the RV, and it was more or less the opinions of a lifetime of observing economics. It struck me as odd that while I was expecting that I would get a lot of "I don't know, or I can't say"
type of answers that when we discussed the RV it was more of a matter of fact, or of course thats the way it's gonna be type of answers.

Originally Posted by Treater

I ran all the information I could think of from the news by someone who is much older and wiser than I am, a seasoned investor, and used to live in the middle east and europe. I asked a few questions just to see what this person's insite would be. Here is the responses I got to a few questions I asked. It's not word for word, but it's pretty close, and the basic ideas are there.

Q: Do you think that they will RV the dinar before they allow FI?
A: They have to.

Q: Do you think they will be straightforward with the reval, or try to lop zeros, and do any kind of reprint or anything funny?
A: It will be straightfoward, they will make it like the dollar or the euro.

Q:Have you ever seen a currency reval so high?
A: I have seen it before but this will be so high because they have the petrol.

we went on to talk about a lot of issues in Iraq, and I was told that Iraq will burn a lot of investors on down the road, but that as far as the RV is concerned that it will play out in a very straightforward manner. I seriously doubt that this person has any stake in the RV, and it was more or less the opinions of a lifetime of observing economics. It struck me as odd that while I was expecting that I would get a lot of "I don't know, or I can't say"
type of answers that when we discussed the RV it was more of a matter of fact, or of course thats the way it's gonna be type of answers.

Excellent Treater.

Central Bank says Iraqi dinar stable

http://www.iraqdirectory.com/DisplayNews.aspx?id=1628
Stable enough to Reaval I hope.
It does blow out the lop theory.

very good post treater....cigarman....mike{OSW} and all the others who posts on here....really appreciated by the members of this forum...keep em' coming....i feel it won't b long now....GO DINARS.....Pat

Originally Posted by cigarman

Central Bank says Iraqi dinar stable

http://www.iraqdirectory.com/DisplayNews.aspx?id=1628
Stable enough to Reaval I hope.
It does blow out the lop theory.

Mudhir Salih, an expert with the Central Bank of Iraq, said that the Iraqi dinar is stable and there is no need at this point to print more money.