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

Originally Posted by lightrayspips

Hello what are SBA, IMO and so-called r/v?

Please advice.

SBA = Stand By Agreement
IMO = In My Opinion
r/v = Re-value (as in iraqi currency)

http://www.kurdmedia.com/news.asp?id=10921

"The local sources told local media that the price of a liter of petrol has gone up from 53 to up to 250 Iraqi Dinar and a liter of diesel increased to 90 Iraqi Dinar. A liter of paraffin that is essential for cooking and heating has gone up to 25 Iraqi Dinar. A bottle of natural gas has gone up to 600 Iraqi Dinar. These prices can be higher outside the cities. The increase of prices is about fivefold. "


I would assume that this has something to do with meeting the IMF requirements for the SBA before this year comes to an end.

People won't be able to afford these prices. My own feeling is they need to revalue to support the people.

Interesting next 2 weeks out in Iraq. :D Still not too late to get involved in this investment, pm me for details.

:0)

USAID works to strengthen Central Bank of Iraq
Monday, December 19th 2005

As part of the USAID-Funded Economic Governance II Project, designed to help in the economic reconstruction and policy reform in Iraq, technical assistance is being provided to assist capacity building and institutional strengthening at the Central Bank of Iraq (CBI). Historically, the CBI has found it difficult to implement monetary policy because it has not had the necessary instruments at its disposal....

The USAID-Funded Economic Governance II Project's technical assistance has helped amend reserve requirement regulations, a percentage of a bank's assets that must be maintained as liquid assets. This allows the CBI to influence the money supply by restricting the funds available for lending purposes; consequently, this will enhance the CBI's ability to conduct sound monetary policy and achieve price stability....

http://www.portaliraq.com/news/USAID...__1111722.html

Good News about Dinars.

My supplier who works in the oil company emailed me:

" I had great problems sourcing Dinars the last couple of days before I left Saudi - the borders between Iraq and Jordan/Kuwait are closed because of the elections - so no currency is coming out of Iraq for at least another 10 days. Consequently the rate of exchange has escalated - and there is a shortage of Dianrs - this is what we want of course!! I did manage to source enough dinars for a short period and may return to Jordan (maybe in the next two weeks ) - so will check it out - but the exchange rate as of today is up about 5% form a week or so ago "

It seems that these dinars are going up and up!

A lot more good things happening out there by the day. :0)

Also check this:

Iraq:Current Value 1 IDinar = .0007 USD
Slotted Potential Future Value: 1 IQD = .21 USD***
http://www.cia.gov/cia/publications/...k/geos/iz.html
Land Mass: 437,072 sq km
Population: 26,074,906
Government Type: The Iraqi Interim Government (IG) was appointed on 1 June 2004. Interim Government Constitutional Parlimentary (Federated) Democracy. (semi-stable)
GDP: The IMF said it was cutting its forecast for gross domestic product growth this year from 17 percent to 4 percent. In 2004, the Iraqi GDP was $25.5 billion. This year it is projected to reach $29.3 billion.
$54.4 billion gdp (2004 est.) per: http://www.nationmaster.com/graph-T/eco_gdp
Assets: Petroleum, natural gas, phosphates, sulfur, large agricultural potentia (wheat, barley, rice, vegetables, dates, cotton; cattle, sheep, poultry). 13,400 oil reserves in million tonnes. 10% of potential reserves have been explored. IMF projections 2 to 2.5 mbpd for 2005-2006.
Before U.S.-led forces defeated Saddam Hussein, whose government also heavily subsidized gas prices for consumers, average annual oil production in Iraq was 2.5 million barrels per day. Iraq has large water sources many were dammed up and drained by the dictatorship of Saddam Hussein.
OPEC Member
***If Stability and Security is achieved.


Hope this finally comes true. I will sell all my Dinars at 21 cents!

At .21 my dinar would make me enough to retire on, lol.

This is the biggest and best post I've seen for a long time.

As part of the USAID-Funded Economic Governance II Project, designed to help in the economic reconstruction and policy reform in Iraq, technical assistance is being provided to assist capacity building and institutional strengthening at the Central Bank of Iraq (CBI). Historically, the CBI has found it difficult to implement monetary policy because it has not had the necessary instruments at its disposal....

The USAID-Funded Economic Governance II Project's technical assistance has helped amend reserve requirement regulations, a percentage of a bank's assets that must be maintained as liquid assets. This allows the CBI to influence the money supply by restricting the funds available for lending purposes; consequently, this will enhance the CBI's ability to conduct sound monetary policy and achieve price stability....

http://www.portaliraq.com/news/USAID...__1111722.html



This means for those that don't understand. Iraq might have been required to have reserves of $1.00 to peg the dinar at $3.00. Making the requirement 30% cash reserves. In some countries the requirement is substantially higher, say 60% cash reserves. Now that they have amended reserve requirement regulations the same $3.00 peg would only require .30 cash reserves. This is using a 10% cash reserve requirement. The article doesn't say what the new reserve requirement was amended to.

A .31 revalue of dinar would require .031 in cash reserves for example.

Please believe me when I say this is so big, basically this to me shows that the CBI can revalue the dinar at whatever rate they want to. Best news I've read for a long long time people. :0)))))))))))))))))))))))))))))))))))))))))))))

At .21 my dinar would make me enough to retire on, lol.

This is the biggest and best post I've seen for a long time.

As part of the USAID-Funded Economic Governance II Project, designed to help in the economic reconstruction and policy reform in Iraq, technical assistance is being provided to assist capacity building and institutional strengthening at the Central Bank of Iraq (CBI). Historically, the CBI has found it difficult to implement monetary policy because it has not had the necessary instruments at its disposal....

The USAID-Funded Economic Governance II Project's technical assistance has helped amend reserve requirement regulations, a percentage of a bank's assets that must be maintained as liquid assets. This allows the CBI to influence the money supply by restricting the funds available for lending purposes; consequently, this will enhance the CBI's ability to conduct sound monetary policy and achieve price stability....

http://www.portaliraq.com/news/USAID...__1111722.html



This means for those that don't understand. Iraq might have been required to have reserves of $1.00 to peg the dinar at $3.00. Making the requirement 30% cash reserves. In some countries the requirement is substantially higher, say 60% cash reserves. Now that they have amended reserve requirement regulations the same $3.00 peg would only require .30 cash reserves. This is using a 10% cash reserve requirement. The article doesn't say what the new reserve requirement was amended to.

A .31 revalue of dinar would require .031 in cash reserves for example.

Please believe me when I say this is so big, basically this to me shows that the CBI can revalue the dinar at whatever rate they want to. Best news I've read for a long long time people. :0)))))))))))))))))))))))))))))))))))))))))))))

lightrayspips the first link above doesn't work, can you copy and paste the whole article please on here.

Originally Posted by Adster

lightrayspips the first link above doesn't work, can you copy and paste the whole article please on here.

Adster, as you wish :)

http://www.cia.gov/cia/publications/...k/geos/iz.html

Regards.