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

ourhouse37,

I'm here!!!

Please have a good read of this, especially the last sentence. With the ISX opening the options will be too 'float' the dinar dependant on foreign investors buying up Iraqi stock, or they will reval at a low rate possibly and allow it to 'float' again. It makes sense for a small reval as basically the stocks will be almost given away. I read earlier of an Iraqi bank offering shares for a fraction of the cost and they're processing orders in a sports stadium!

Bottom line is the 'convertibility' for the dinar will come soon, it has too or no foreign investors will be allowed to buy into Iraq.

http://www.zawya.com/Story.cfm?id=ZA...l=121000051229

Any pm's unanswered please leave a message on my website or email me at [email protected] about anything.

Cheers.

Adster.

http://www.ameinfo.com/75694.html

With a follow up post from someone, not me.

All the bank employees who have to process the applications are fed up with the rush of subscribers. I went to a bank and it was like fish market.

You are right, invest $ 1 and get $ 10 in just one month. Its like that, like bribing their people. This bank is offering share @ $ 2.75 and its like to open at $ 27 per share.

Huge day tomorrow, fingers crossed.

http://today.reuters.com/business/ne...-IRAQ-DEBT.xml

Hmmm, 'private investment', sounds like foreign investment to me. :0)


http://www.iraqdirectory.com/DisplayNews.aspx?id=748

Iraq urged to woo private investment

18/01/2006
Source: Gulf Daily News

Iraq must look to private investment, international lending and its own growing economy to finance reconstruction now that $21 billion set aside by the US Congress for that purpose is nearly used up, three US officials said yesterday.

US President George W Bush still wants an American role in the country's rebuilding, but a big element will be helping create a legal framework to make investment safe so that Iraq can finance its own reconstruction, not providing the money itself.

"The key message here is that we're helping the government of Iraq to establish a policy framework that will enable private sector investment that will help reduce unemployment and generate jobs for the future," said Dawn Liberi, Iraq mission director for the US Agency for International Development.

Still, they gave no indication that the United States had any intention of adding significantly to the $21bn allocated by Congress in 2003 for reconstruction. They said $18bn of that has been set aside.

In their prepared statements, they detailed several reconstruction projects in recent months that show Iraq's progress. In the last six week alone, there have been 53 projects in eight provinces linked to roads, bridges, water and electricity, totalling $39 million.

An improved electrical network in Irbil has brought power to 30,000 more people, while a new water network in the Wasit province meant 16,000 people have better access.

"This is really part of the transition that's taking place where Iraqis are developing the programmes, designing the priorities for those programs and making decisions at the government level," said Ambassador Dan Speckhard, director of the Iraq Relief and Reconstruction Office.

Brigadier General William McCoy, of the US Army Corps of Engineers said that in the electricity sector, 345 projects worth $2bn were either underway or completed. The country has seen an uptick in electricity, from 4-8 hours each day in March 2003 to 10-12 hours each day, despite a huge increase in demand.

McCoy said a key project was creating a national automated control system that can shift power to where it's most needed and help prevent nationwide blackouts.

"The Iraqi people are the real heroes and they continue to demonstrate the optimism, capacity and willingness to make the hard right choice in a very challenging stage in their national development," McCoy said.

thank you dear man. God bless you and may I buy the first frothy.
kristin

ANOUNCEMENT,

Technical issues have put off from 19th to 23rd, looks like Murphy struck again as there were technical issues causing delay. Patience, we are all good at that, right? LOL

Good luck to all, Mike

Has anyone purchased from GIDAssociates.com? If so did everything go fine?

Thanks
Ken

kristin,

I'll allow you to do that my friend!!

Here's what's been said:



WASHINGTON, Jan 18 (Reuters) - The Iraq government said on Wednesday it had delayed the closure of its commercial debt-for-debt exchange offer to Monday, Jan. 23, 2006 due to "technical reasons."

"The closing had originally been planned for January 19, 2006," the government said in a brief statement from Baghdad.

The debt will begin formally trading in the global marketplace after $14 billion worth of commercial claims were restructured into $2.7 billion bonds.

Iraq's bond has been trading 537 basis points over U.S. treasuries in the grey market. The bonds mature in 2028 and carry a coupon of 5.8 percent. <IQ024029557=>. The bonds began trading in the grey market around the 10.75 to 11 percent yield maturity range, but in the last week yields have dropped to the 9.87 percent area, showing strong interest, traders said.




That's fine, only a few more days, like with p**s we need patience but when this little baby hits the market and is made convertible I'd say we're home and dry Mike. :0))))

Mike/all,

My guess is more countries want a piece of the pie and want to get in on the action, hence them now stalling it for 4 days. As for technical reasons, this is either an excuse or the machine can't handle all the orders!

Monday is a date for the diary...

Sorry about the my last post, I'm sure there was'nt anything here the last time I looked, must be my old eyes.
Anyway I would like some sound advice, Would it be possible for me to buy Dinar in the UK?
Who would be the best people to buy them off?
Is there a closing date looming?

Thank you all so much for your help.