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

Originally Posted by cigarman

Hey Adster, why can't we start at .68 and be 1.59 as well? LOL. I'm giving you the best of both worlds Tiff. LOL

....I don't KNOW! They're both so PRETTY!

I would LOVE LOVE LOVE to know how you boys have such a big spread!

Mike posted a few pages back that his sources were back to .30 - .40 - - and now you and Adster! What's a gal to THINK! lol!

BIG OLE BUMP!

Luv ya for this Adster!

Bloomingdale's here I COME!

Originally Posted by Adster

A friend of mine just informed me that yahoo only lists currencies that are international currencies trading hence no rate as of yet but listed there.....

We're closer than ever!

Yes, this is what our foriegn exchange brooker has said too. Wow!!.

Originally Posted by Adster
A friend of mine just informed me that yahoo only lists currencies that are international currencies trading hence no rate as of yet but listed there.....

We're closer than ever!

Closer than ever means now in August. LOL

translation arab to english:


(Voice of Iraq) - 16-08-2006

Undersecretary of the Ministry of Finance for (time) :-External debt upset the investment climate in Iraq
The first workshop
Samir Nasser
Baghdad
Said Undersecretary of the Ministry of Finance Kamal Basri (to the proposed investment law, , but it represents a step forward in the field of foreign and domestic investment, however, contains a number of loopholes that hinder the full implementation), He pointed out that (the need for foreign investment in general comes for several reasons, including the existence of the gap saving resulting from the fact that the capital investment required is greater than the capacity of the national economy provided) The visual in a meeting with the (time) that (the phenomenon of capital flight to the national industrial nations and the neighbouring States were sentiments that the owners of foreign banks safer than national banks), stating that (a high unemployment rate of about 27%, making the State Lattmcn addressed alone as well as to the existence of unemployment in the most compelling governmental institutions), It has been estimated Basri (the need for Iraq to power about 8,000 and 500 megawatts to meet the demand for electricity for 24 hours a day, this would require the allocation of $ 10-$ 15 billion of power stations, transport systems and distribution, Even if Tofferhza the restoration of infrastructure of this sector will take between 3 - 4 years.
The following is the text of the meeting : -
Do you think that Iraq needs to attract foreign investment and why?
No secret to anyone that the Iraqi economy suffers problems among those inherited from the previous era, including the results of the current phase of political, economic and social instability Perhaps the most prominent economy suffering of the Iraqi problem is :
1-weak capital accumulation because of the low level of incomes in Iraq and the high percentage of consumption, Therefore it is difficult to create a backlog and capital formation necessary, If perspective to the state budget for 2006, we find that the allocations the state investment allocations investment budget amounting to 18% of the state budget - but the reality is that less than a much-Because of this situation it is difficult to restore and improve the productive capacity or transfer Altknoloija and market entry economic, and the case that Iraq is weaker today than neighbouring countries. Accordingly, the foreign investment to contribute to the openness of the technological advances and training of manpower, including technical and administrative different levels because it is important to have the industrial base of human skills.
2-Lack of job opportunities, where it is estimated, statistics indicated that the volume of unemployment in Iraq, up approximately 25-27% and there is no doubt that the State alone is not able to provide additional job opportunities Businesses and public sector companies abundance of labour and there is already the problem of unemployment convincing must be freed, Given the weakness of the domestic private sector is critical for the State to find opportunities to work without the necessary work to encourage foreign investments.
3-weak exports in the economy of Iraq, more than at any other time. depends on Oscillating oil exports, which amounted to 92% of the revenue proceeds of the State budget for 2006, The industry and construction sectors have vanished because of previous policies for reasons related to poor production efficiency and remnants of war because Iraq was unable to obtain the foreign exchange required to finance domestic investment and to broaden the base of domestic production or upgrading it, This often leads foreign investment to boost exports to the beneficiary to world markets, There is no doubt that the hard currency needed to service external debt obligations and financing the purchase of imported products and financing attracts procedure, It has prompted the need for countries and the desire to obtain foreign currency from exports to reduce trade barriers and integrate into the global economy as they help foreign investment countries to diversify their exports and growth in the export products of new known as non-traditional exports, exports of high value-added, This is particularly important for developing countries in diversifying the export base that makes the state less vulnerable to the adverse effects of low commodity prices.
4-weak domestic banking institutions experiencing weak and small size and its inability to mobilize savings for the development of various sectors of production, Given the weakness of the private sector because of past practices and lean years. it is incumbent on the government to seek sources of development through the provision of better facilities and services that will stimulate investment in Iraq and the competition of other countries.
Capital flight
- 5 phenomenon of capital flight national industrial nations and neighbouring countries because of the feeling of owners that foreign banks safer from national banks or the lack of economic and political stability of Iraq and the absence of opportunities for attractive and seek to exploit and take advantage of the incentives provided by the other. It is no secret to everyone the role of finance capital in the economic rebirth of Iraq is experiencing Jordan (for example). Also, the absence of the role of national financial institutions and the misuse of existing savings and inadequacy of the trend towards non-productive investments Kalamadarbh real estate and others.
- 6 weak infrastructure suffer Iraq among other problems related to this facility and the most pressing weakness of power, causing problems productive and humane people of the community and have proven experience cogently inability of the State to reform the conciliator and vital need for external financing. The estimated need for Iraq to power about 8,000 and 500 megawatts to meet the demand for electricity for 24 hours a day, which requires the allocation of $ 10-$ 15 billion in this sector to establish power stations and transport systems, distribution, Even if Tofferhza the restoration of infrastructure of this sector will take between 3 - 4 years. Therefore, foreign direct investment will be necessary in order to meet the shortage of capital and human resources, can attract FDI first in areas with stable We recommend giving priority to this sector seconds after oil, it has an impact, directly or indirectly, to the process of economic development. There are also other facilities Mtmlh ports, railways, roads, bridges, water purification projects and municipalities, are also in need of huge investments because of the infrastructure and sophisticated modern factors for the development process.
7-technological backwardness that require developing countries to advanced technology strategies that are consistent with the manufacturing, The foreign investment, especially direct ones, which is carried out by multinational companies of the basic factors of transferring technology across States because of Iraq's access to modern technology will effectively on the local market through the production of larger and more efficient, In the end they affect the development of local infrastructure and lead to a reduction in the prices of domestic products.
8 - the burden of external debt : Iraqi debt is estimated at about 125 billion Dolarwalte constitute a financial burden on the economy and a negative investment climate. Having thus determined efforts to reduce the debt of Iraq, there is still another way to deal with debt requiring quick search for additional sources of cash economy. But foreign investment can be one of those sources. Notably disparity estimates need Iraqi economy to foreign investment and reconstruction. However, the lower estimate is prepared by the World Bank, United Nations and tagged (estimates of the Joint Reconstruction of Iraq) and presented to the donor conference in Madrid in October 2003 pointed to the need for the Iraqi economy to about 55 billion dollars over the years 2005-2007.
From the figures in the budget year 2006, we find that they show that the volume of revenues in the order of 31 billion dollars was allocated to investment spending about $ 6 billion and $ 200, an increase of approximately 20% only. Even if one takes into account the anticipated grants and subsidies, there should be a gap of saving Tjserha through foreign investment.
Why-States have resorted to legislation laws to attract foreign Alesthtmarat?
- The need for foreign investment in general comes for several reasons, including the existence of the gap saving arising from the fact that the capital investment required is greater than the capacity of the national economy to provide as well as the inability to provide the units of hard currency for investment, In this case, can bridge this gap by attracting foreign investment, as well as supporting economic growth. The foreign investment leads to increasing the country's productive capacity, It is effective in changing the structure of the national economy in favour of amending the structural imbalances, as well as to increase the size leads to a high rate of economic growth through higher value-added, productivity and create additional job opportunities in the local labour market and the development of technical and managerial skills. It also encourages domestic investment by creating new investment opportunities for local firms and increase exports of the host country, This has the effect of increasing domestic savings and hence local investment, as well as the transfer of advanced technology in the transfer of technology through foreign direct investment through the adoption of systems and methods for planning, organization, production, marketing and know-how which contributes to the dissemination of technological advances in the rest of sectors of the national economy through simulation.
Proliferation of openness
The early 1990s saw the proliferation of ideas for economic openness, We consider those that rejected foreign investors in the past and welcomes them with open arms. Even North Korea, one of the world's most isolated, started to open its doors in the search for foreign investment and announce the opening of areas to invest foreign resembles those carried out by China in the 1980s and realized many countries in Africa, the importance of foreign investment in their growth and development began to adopt the policy of reform in order to attract investment and set up national investment promotion agencies, As China has opened its stock markets completely to foreign investors and registered record numbers in the flow of foreign capital to the country excelled in the United States as the largest recipient of foreign direct investment. There is no doubt that States have an incentive to invest in attracting more investment than others, for example, Russia has an industrial base and the market, in addition to the abundant natural resources in quantities greater than the State of Hungary, However, the per capita share of FDI in Hungary in the past decade several times greater than those in Russia. The reason for this is that Hungary had been able to establish a climate of investment, political and economic environment of stable predictable. While investors avoid because of the volatility of Russia legal, political, economic, Taiwan has evolved into a country eligible investment objective of the policy of economic openness. As Ireland became one of the poorest nations of Europe into one of the most successful of these countries have become the target of unwanted foreign investment in less than ten years. On the other hand, failed several countries in Latin America to attract foreign investors due to the absence of the necessary fabric of laws and regulations.
What is the most important contents of the draft Investment Law to be implemented?
To highlight what the contents of the proposed law is the formation of a body called the General Authority for Investment with legal personality and Imthelharesi body or which is empowered and headed degree Minister and the Deputy degree Undersecretary of the Ministry nominated by the Council of Ministers, appointed by the House of Representatives and is designed to encourage investment in Iraq through their work on the following :
1-Strengthening confidence in the investment environment, identifying investment opportunities and stimulate investment and promotion.
- 2 simplify the procedures for registration and leave the follow-up investment projects, existing and prioritising delivery to the official procedures and update investors and answer requests for capturing the necessary approvals and the project investor.
3 - Provide advice and the provision of information and data Lmestthmron issuing evidence of that.
- 4 to facilitate the allocation of land for lease and for the creation of projects at cost determined by the Board in coordination with other relevant agencies.
The law allowed the possibility of removing capital to enter Iraq and dividends to the extent that they are incompatible with the provisions of laws and procedures Alkamrkeh, tax and currency convertible currency after the payment of its obligations and debts of all the Iraqi government and others. It also allows workers in a project to transform their salaries and compensation abroad.
The law allowed foreign investors to the leasing of land for the project where the project is based on the investment should not exceed 50 fifty years, renewable with the approval of the body.

Newspaper (time)

Originally Posted by aeara

this is like those folks trying to predict the second coming. they keep doing it but it never actually happens. unless, you're hip to the esoteric concept of, i guess...

i here ya

If you'll look at my post I did believe July, but with all that's happened I'm sticking with August. It might not happen but there's alot happening that reaffirms my decision. Why are all the exchange sites putting the dinar on their sites? Why do we have 12000 extra troops in Bagdad? There's too many reasons to list why I think we're there. I'm sticking with August.

That's o.k. cigarman, I like that your gut is saying August.

Hi PH... could you or anyone else please give a condensed version of post 5680..Thanks..just too much info for me to understand... :)
I'm stuck on August too

Originally Posted by ezcash

Hi PH... could you or anyone else please give a condensed version of post 5680..Thanks..just too much info for me to understand... :)
I'm stuck on August too

Of course :) they talk about to pass asap the foreign investment law
that we all waiting for.They talk about the advantage of this law and what
this law will bring it to the iraqi population.Hope that clear up a little bit this
post :)