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

Originally Posted by shotgunsusie

shabibi describes???? would like to see that transcript....

I think this is the article (did a google news search on key words in heading). It has problems loading sometimes, so if you get a blank screen, just refresh as much as you need to until it pulls up:

Iraqi Finance Minister Targets Inflation

Russia will write off Iraq's $10 bln debt


RIA Novosti - Russia - Russia will write off Iraq's $10 bln debt - Kudrin


SINGAPORE, September 17 (RIA Novosti) - Russia will sign a Paris Club agreement to write off Iraq's debt of about $10 billion, the Russian finance minister said Sunday.

"Technicalities are being settled at the moment," Alexei Kudrin said, adding the debt could be written off in the next few months.

The write-off follows an agreement in November 2004 by the Paris Club nations to cancel about 80 percent of the Iraqi debt to each of the club's 19 creditor nations.

Kudrin said Iraq would only owe Russia over $1 billion, including interest, after the write-off.

The Secretary-General's Statements

18 September 2006
New York, 18 September 2006 - Secretary-General's statement at the High-Level Meeting on Iraq

Excellencies,

Ladies and Gentlemen,


Let me start by thanking all of you for joining me for this important meeting.


More than two years after the adoption of Security Council resolution 1546, Iraq has made important progress in its political transition. Through two national elections, the constitutional process and a constitutional referendum, Iraqi citizens have consistently demonstrated their commitment to a peaceful, democratic and prosperous country. The UN itself has worked closely with three successive Iraqi Governments, and the international community, to help Iraq reach its transitional milestones on time.


It is thus absolutely heartbreaking that, despite these achievements, the everyday life of Iraqi people is dominated by the constant threat of sectarian violence and civil strife. Permit me to make special note, because of President Talabani's presence here today, of the tragic violence in Kirkuk on Sunday.


Iraq and its leaders are now at an important crossroads. If they can address the needs and common interests of all Iraqis, the promise of peace and prosperity is still within reach. But if current patterns of alienation and violence persist much longer, there is a grave danger that the Iraqi State will break down, possibly in the midst of full-scale civil war.


Against this background, I felt that that beyond my periodic reports to the Security Council, the latest of which was discussed last week, it was important to take stock of progress under resolution 1546, and to discuss the way forward. Given the serious situation in Iraq, it is evident that much more needs to be done.


To make the right choices?the brave choices?Iraq needs the support of its neighbours, and of the international community. The most immediate task is to broaden support for the kind of action?at the national, regional and international levels?that can bring Iraq back from the brink.


At the national level, the new Government's most basic challenge remains the development of a truly national agenda responsive to the needs and aspirations of all Iraqi constituencies. Such an undertaking would obviously include measures to improve security, but it must also promote peaceful dialogue, political compromise and national reconciliation.


As a first step, Iraq's Government, and its broader political leadership, need to step up efforts to reach out to one another and defuse rising sectarian tensions. Prime Minister al-Maliki's National Reconciliation Plan and Baghdad Peace Initiative are welcome steps in this direction, as are his initial steps to broaden the Government's support base.


A strong push for consensus on outstanding constitutional issues, such as federalism and revenue sharing, can greatly reinforce the Prime Minister's confidence building measures. Therefore I hope the Council of Representatives will initiate the constitutional review as early as possible.


To be effective, any national dialogue must mirror closer regional cooperation. That is why the United Nations supports the efforts of the League of Arab States to convene a Conference on the Iraqi National Accord in Baghdad.


Many of Iraq's neighbours have legitimate concerns about instability inside that country. Iraq must remain sensitive to these apprehensions. The neighbours, for their part, must also be responsive to Iraqi security needs.


To this end, periodic meetings of the foreign and interior ministers of the states neighbouring Iraq have proved useful. Just today, a meeting of interior ministers is being held in Saudi Arabia, while the next foreign ministers' meeting is scheduled later this week here in New York.


Meetings should, of course, end in results. That is why Iraq and its neighbours need to strengthen dialogue and step up efforts to improve border security, and engage in concrete confidence-building measures.


Peace in Iraq will ultimately depend on domestic resolve and regional cooperation. But it will not come about without ever more urgent international engagement. The international community may not be able to ensure Iraq's success, but it can guarantee failure if it does not come through in time with sufficient support.


The International Compact with Iraq is designed to insure against this. It is an opportunity for the international community to build a strong partnership with Iraq and the wider region. On the basis of Security Council resolution 1546, and at the request of the Government of Iraq, the United Nations is co-chairing this process with the Government. [Deputy Prime Minster] Dr. Barham Saleh, Iraq's co-chair for this initiative, is also with us today.


Since its launch on 27 July, considerable work has already gone into the Compact, which will provide the framework for a defined, prioritized and benchmarked economic programme for the next five years. The recent preparatory meeting held in Abu Dhabi on 10 September has given the Compact further direction and content.


Yet it remains a work in progress. Indeed, the need to complete the Compact in good time?ideally by the end of the year?must be balanced by the equally great need for it to be well-developed, substantive and sustainable. A broad consultative process both inside and outside Iraq, to ensure adequate buy-in for the Compact, is indispensable.


Finally, Iraq remains under a number of obligations imposed by this Council under Chapter VII. Since the country now has a sovereign, constitutionally-elected Government, I hope Council members will find a means to address this situation as early as possible.


At this critical time, Iraqis of all ethnic and confessional groups must unite to build a better future for themselves and for their country. As they work to do so, they should be able to count on the active support of Iraq's neighbours and the international community.


This meeting offers us a promising chance to demonstrate that support, and decide how best to fulfil our shared responsibilities towards Iraq and its people. If we reenergize our efforts and our commitment, we can still help build a country at peace with itself, with its neighbours and with the wider international community.


Thank you very much.

Just today, a meeting of interior ministers is being held in Saudi Arabia, while the next foreign ministers' meeting is scheduled later this week here in New York.


Meetings should, of course, end in results.

CNN just had a clip that there was a bomb explosion in Northern Iraq... will see if anything on the net confirms...

Two billion iraqi dinar Compensations for Shorja Fires and Robbed Banks
September 16, 2006

He said that these compensations included tradesmen who had insured their shops and this reflects their insuring awareness for it reduced their loss. Mirza explained that the reinsuring process included banks suffered from robbing; The process also participated in increasing the insuring limits against terrorist actions up to 15 million iraqi dinar for university professors, and there is a study going on to include other society sections.


The director general talked about the Reinsurance Company activities to restore trust of the international insurance markets in the Iraqi one and make contracts with the big companies again. The Company is trying to settle its financial obligations, which surpassed their due dates, to international institutions. It is also making attempts to release blocked funds, which are about 27 million USD, in and out side Iraq; this will reinforce its financial status and a possible increase in the company's capital up to 5 billion iraqi dinars if subsided by the Minister of Finance, Baqir Jabur Solagh, who confirmed his support to expand the range of insurance and find new covers to encourage international investment.


Mirza pointed out that the company supports private insurance companies which are about 12 active ones distributed all over Iraq. The company subsides 90% of their work and that reinforces their financial status and enhance the public trust in them.


The director general confirmed that the company is working on investing its financial surplus through constructional projects and participating in developing Iraqi industries through establishing co-ed sector companies. The company has a lot of investments in the fields of stocks, real estates and lending citizens for commercial building. All this will participate in developing the constructional and industrial activity.


In international relations, the director general pointed out that Iraqi Reinsurance Company is a founder member in the Arabic General Union for Insurance located in Cairo; the company is participating in increasing the capacity of Arabic Insurance market and also has an active participation in Arabic assemblies like managing the assembly of engineering and fire insurance. The company is also a founder member in the Afro-Asian Union for Insurance which took an active part in experience exchange.


Mirza said that the company is participating in the study of obligatory insurance law through presenting suggestions to activate it which is administrated by the national Insurance Company and that would result in better services for those injured in car accidents.


He added that the Minister of Finance confirmed the necessity of a thorough study for this law and law number 15 for the year 2005 which organizes the insurance work in Iraq. The Minister of Finance, also, insisted on developing the insurance work and subsiding companies.


Finally, Mr. Mirza said that the company intends to take part and support national and international investments in order to achieve quick development in this field. He also pointed out that the company is attempting to re-operate its office in London in order to expand its work with international insurance companies and it is about to re new its contract for the year 2007 with these companies.(Source)AlSabah

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Bank of Iraq, KSE discuss investment - Zawya.com | Middle East Business News

Well, this suggests a change in ER... but in the wrong direction!

How can there be so much variation across these sites?

Monday, September 18, 2006

1 US Dollar = 1,542.00 Iraqi Dinar
1 Iraqi Dinar (IQD) = 0.0006485 US Dollar (USD)

Learn about the new Iraqi Dinar
Median price = 1,415.50 / 1,542.00 (bid/ask)
Minimum price = 1,415.50 / 1,542.00
Maximum price = 1,415.50 / 1,542.00



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