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

This is getting a little tireing now and i think i will put these damn dinars down to another internet loss

or at least forget about them for a while nothing seems to me it going to happen anytime soon,but i do hope i amd wrong

Tony

Generals Raise Fears of Iraq Civil War
By ANNE PLUMMER FLAHERTY, Associated Press Writer

37 minutes ago

WASHINGTON - Two of the Pentagon's most senior generals conceded to Congress on Thursday that the surge in sectarian violence in Baghdad in recent weeks means Iraq may descend into civil war.

"Iraq could move toward civil war" if the violence is not contained, Gen. John Abizaid, the top U.S. commander in the Middle East, told the Senate Armed Services Committee.


NEWS - Comcast.net

I heard a disturbing interview on CNN about the fact that the armed forces are running out of money and equiptment to sustain this war. The trucks, tanks, etc. are in bad need of repair because of all the use that was not taken into account. I heard that some of the generals are going to address washington in the next few days.

KRG.org , 3 Aug 2006
Kurdistan Region ratifies new investment law 3 August 2006, Erbil, Kurdistan- Iraq (KRG.org) – Nechirvan Barzani, Prime Minister of the Kurdistan Regional Government, this week unveiled a newly ratified investment law that will support the government’s free market policy, promote the private sector and protect foreign investors.

The Prime Minister announced the new investment law in Erbil, the Kurdistan Region’s capital, on Sunday after it was debated and approved by the Region’s parliament and ratified by the Region’s president.

The Kurdistan Regional Government (KRG) studied the investment laws of developed countries in drafting one of the most investor-friendly laws in the Middle East. The new law allows for full ownership and repatriation of profits. Mr Barzani said, “We…assure investors that their capital and projects will be protected in accordance with modern laws.”

The Prime Minister added, “In case of any disputes, should they arise, and we hope they will not, they will be dealt with in a civilized and fair way before the law.”

Mr Barzani said that foreign investors would get the same support and cooperation that national investors receive: “We will work to make their tasks easier and to reduce bureaucracy and red tape.” Steps were being taken, he said, to simplify the company registration process.

Referring to the stability, security and investor-friendly environment in the Region, Mr Barzani said, “I believe that Kurdistan will come to serve as the gateway for the rest of Iraq. The Iraqi market is large and companies that enter this market can launch their enterprises from Kurdistan.”

The Prime Minister said foreign direct investment would help to create jobs, bring new techniques, provide necessary services and teach modern business and accounting practices. Mr Barzani said some of the industries in which the private sector should play an effective role are information technology, energy, manufacturing and tourism.

He emphasised that the law would be transparent “so that all citizens can know what foreign and local investors are doing in the Kurdistan Region and what kind of benefits such projects bring to our people and our Region.”

The investment law establishes an investment board for the Kurdistan Region that will promote and oversee investments. The Prime Minister introduced Mr. Herish Muharram Mohammad Amin, the newly appointed chairman of the investment board with ministerial rank. Mr. Amin has previously worked at Save the Children Fund and Habitat. He also served as chairman of the reconstruction projects board in Suleimaniah, and his most recent post was chairman of Suleimaniah’s electricity board.
Interesting,

Just as the Kurdistan swiss dinar was worth 150 times more than the Baghdad dinar did under Saddam, so too will the region be more economically sound sooner than the rest of country. It all comes down to this, security is holding up announcements, but the Kurds are moving forward with Baghdad or without it. (g)

Describing the main Shi'ite militia, he wrote: "If we are to avoid a descent into civil war and anarchy then preventing the (Mehdi Army) from developing into a state within a state, as Hizbollah has done in Lebanon, will be a priority."


This the the biggest and strongest opposition they face. If they can knock out or weaken the Mehdi Army I think things will change for the better. Better to do it now, with all our troops over there, then wait until they get stronger.

Just as the Kurdistan swiss dinar was worth 150 times more than the Baghdad dinar did under Saddam, so too will the region be more economically sound sooner than the rest of country. It all comes down to this, security is holding up announcements, but the Kurds are moving forward with Baghdad or without it. (g)

How can they do this without a peg in the Dinar? With new investors coming in don't they need it?

but the Kurds are moving forward with Baghdad or without it. (g)

Don't the "Kurds" use the NID too? WHAT am I missing Mike?

Yes, security issues, fighting, kidnappings, and bombings...BUT---How can the Kurdistan region be doing everything that they are doing WITHOUT revaluing their currency?

me

Yes! Yes! Yes! My question exactly!

O.K. What did Mike do...post and dash? He knows he needs to stick around to answer questions after a post like that! Mike! Get your booty back here! You got some 'splaining to do!


(Sorry Mike if I got a little too vocal, still luv ya)

IMF OKs Iraq's Econ Program, Urges Vigilance On Inflation

News Article


WASHINGTON -(Dow Jones)- The International Monetary Fund said Thursday it approved two reviews of Iraq's economic reform program, keeping open a precautionary credit line to the government.

The IMF also said Iraq had taken some key reform measures in a tough environment and urged Iraq to continue to keep control of consumer price inflation.

The 15-month program, signed in December, is worth about $706 million in credit from the IMF. The Iraqi government has said it doesn't plan to draw down the credit. In granting the approval, it waived some end-June 2006 performance criteria, including one covering the handling of revenue of state-owned enterprises, budget accounting and a final audit of the central bank's 2005 operations.

"The Iraqi authorities have taken important and decisive measures to bring their economic program back on track, although continued progress in the authorities' reform efforts will remain critically dependent on an improvement in the security situation," the IMF said in a statement.
"Substantial efforts have been made to maintain fiscal discipline and control recurrent spending, despite the difficult environment, and the Central Bank of Iraq's tightening of monetary conditions constitutes an important step in the right direction."

In this context, it is commendable that the Central Bank of Iraq stands ready to further tighten monetary and exchange rate policy to prevent high inflation from becoming entrenched," the IMF said. "Fiscal policy should be supportive by keeping public sector wages and pensions in check."

The government has a long agenda of needed reforms, including those to make the the pension system more affordable, the IMF said. Other priorities are improvements in transparency in the government's payroll, improvements in managing public spending and working toward a successor to the government's program for distributing food rations.