Thread: Iraq/Dinar News Until 5/31/2007 7:15 PM CST..

I was reading an article on the IMF website about IMF Exchange Rate Advice and this part jumped out at me.

Getting it right
Exchange rates affect many aspects of a country’s economy and its
relations with the rest of the world. For this reason, exchange rate
issues occupy a central place in the IMF’s analysis and advice to its 185
member countries—a process known as surveillance.
IMF staff considers its 2006 Article IV consultation with China an example of good practice in exchange rate surveillance. The report
contains extensive coverage of key exchange rate issues, including the exchange rate regime, the level of the exchange rate, and the implications of China’s exchange rate policies for other countries. The report highlights both the authorities’ views and those of IMF staff.
Other examples of what IMF staff considers to be good exchange
rate surveillance can be found in country reports and selected issues
papers for the Economic and Monetary Community of Central
Africa (CEMAC), Chile, Colombia, Hungary, New Zealand, Russia,
South Africa, and Spain.
More information is available at IMF Survey: Home.

http://www.imf.org/external/pubs/ft/...007/052807.pdf

It reminded me of the Publication that the CBI site put out several months back entitled:

Evaluating the Frontier of Two Trade Disparity Zones:US Trade-Deficit and China Trade-Surplus."An Analytical Economic View"(Arabic version).

It has always puzzled me why the CBI would place this on their website, so after seeing it mentioned on the IMF site I think the two are connected in some way.

Has anyone tried to translate this article on the CBI site? Some of the English words translated are "Greenspan" "undervalued" "Reference Basket of Currencies" "personal wealth effect" "net wealth" "The Theory of Twin Deficits" "The development path to a peaceful rise" "deflation" etc...

At the end it has a list of sources, one being:

Choudhri, E.U, and Mohsin.S.Khan "Real Exchange Rate in Developing Countries: Are Balassa-Samulson Effect Presents?" IMF Working Paper

Does anyone else find this curious or ever wondered also why this was placed on the CBI site? Can anyone translate it? It could provide us with some clues as to what might happen concerning Iraq's exchange rate regime.

Cheers!
DayDream

Originally Posted by fredgwest1999

MENAFN - Khaleej Times) Iraqi membership in the World Trade Organisation would send a powerful message that the country has emerged from decades of international exclusion under Saddam Hussein and is on the path to economic development, its trade minister said yesterday.


Abed Falah Al Sudani told ambassadors meeting in Geneva for first discussions on Iraq's bid to enter the 150-member commerce body that "joining the WTO is an important step toward integration into the global trading system and restores its position with the international community after decades of isolation from the world," according to a copy of the statement obtained by The Associated Press.

Iraq applied for membership almost three years ago, and a WTO negotiating group was established in December 2004.

Membership isn't expected for years to come.

"We were very pleased with this meeting," U.S. Ambassador Peter Allgeier told The AP. "We look forward to working with the (Iraqi) delegation to make this a successful process."

WTO ambassadors from the European Union, Japan and other countries also asked questions of Iraqi officials presenting a 284-page report of its progress in harmonising its trading rules with international standards.

Trade officials stressed that the current security situation and political instability in Iraq means it is premature to talk about any timetable for accession.

The first meeting focused on political support for the Iraqi government, rather than the tough reforms it needs to make, officials said. "As you know, there is much to be done," Al Sudani conceded.

But he added that the Iraqi government was still able to generate economic growth over the last two years "despite the current circumstances Iraq is going through."

Since U.S.-led forces toppled Saddam's regime in 2003, the country has taken "rapid steps" to develop a market economy from a state-planned economy, boosting private enterprise, economic freedom, employment and free trade, Al Sudani said.

He said Iraq was hoping to gain the WTO's assistance in the transition.

"Iraq's membership in the WTO sends a positive signal to the people of Iraq that they are welcomed back and that the world really cares about their welfare," Al Sudani said.


MENAFN - Middle East North Africa . Financial Network News: Iraq begins process to join WTO


NOTE:

WTO SAYS:

Membership isn't expected for years to come.

US AMBASSADOR SAYS:

"We were very pleased with this meeting," U.S. Ambassador Peter Allgeier told The AP. "We look forward to working with the (Iraqi) delegation to make this a successful process."

WHAT DOES NOT MATCH UP HERE?

you dont honestly believe they will tell us the truth concerning article 8 yet do ya?? talk about speculation runnin rampant.

the part i hilighted is PAST TENSE. how can you have past tense on a subject that is years in the future?? ill tell ya how, its smoke and mirrors.
weekend is almost over, you all ready???

I read in a fortune cookie that the rv was tonight? What a coincidence, huh!!!!
I'm rich....woot

Originally Posted by Mike5200

Iraq says joining WTO is important step

COM-WTO-IRAQ-MEMBERSHIP
Iraq says joining WTO is important step

GENEVA, May 25 (KUNA) -- The World Trade Organization (WTO) started today negotiations with Iraq for membership.

Iraq's Trade Minister Dr. Hammadi Al-Sudani stated "Iraq's joining the WTO is an important step towards its integration into the global trading system and restores its position within the international community after decades of isolation.

He added in his remarks during the meeting at the WTO that "Iraq has shifted from a centrally planned economy to free market and with the WTO accession will build a transparent economic environment consistent with free trade".

WTO members who attended the accession party strongly supported Iraq's accession and welcomed the start of a new phase in the negotiations.

Members have acknowledged the progress made by Iraq in passing or drafting new legislation to comply with WTO rules.

They have asked for a detail action plan outlining future legislative activities.

The Chair of the Iraq's Working Party, Mrs. Claudia Uribe, Ambassador for Columbia declared "the presence of a high-level delegation from Baghdad shows Iraq's strong will to integrate the multilateral trading system through its accession to the WTO".

She concluded from today's meeting that "the mood was very positive and constructive".

In parallel of this multilateral negotiation, Iraq entered into bilateral negotiations with Morocco, Brazil, United Arab Emirates , Chinese Taipei, Jordan, Vietnam, the US, Norway, Egypt, Oman, and the EU.

Through these negotiations, countries intend to agree on market access for goods and services.

Iraq will prepare documents on agriculture, services, technical barriers to trade, sanitary and phytosanitary issues and intellectual property.

It will also prepare a general legislative action plan providing members with a state of play of current and future legislation. No decision was made on a future meeting. (end) hn.

ajs


KUNA 252236 May 07NNNN

smoke and mirrors, as i said.

Originally Posted by shotgunsusie

you dont honestly believe they will tell us the truth concerning article 8 yet do ya?? talk about speculation runnin rampant.

the part i hilighted is PAST TENSE. how can you have past tense on a subject that is years in the future?? ill tell ya how, its smoke and mirrors.
weekend is almost over, you all ready???

Yes!!!!! I'm ready! Just as my siggy says......

Originally Posted by shotgunsusie

smoke and mirrors, as i said.

Susie, you are a gem...thank you. And I hope you feel better.

Originally Posted by Captain Jack Sparrow

Aye!!
Captain Jack Sparrow says you need a couple more hits on the bong!! Look at the date on your log!! If you post old information, don't claim it as new or you will end up with Davy Jones. Do you think if you tell a lie long enough people will believe it?
No RV this Sunday, you and Rolls Royce are all wet from walking the plank.
Captain Jack Sparrow

You should lay off the crack or rum or whatever wanna be pirates get into these days.....neither of the people that you're attempting to bash posted that article.

[QUOTE=shotgunsusie;205345]FOR ALL YOU THAT WANT TO SHOVE THE OLD ARTICLE DOWN MY THROAT IS THIS ONE BETTER FOR YA?????[/QUO

Thank you. As always I am grateful for you and all the others who have been committed to the end.

Originally Posted by shotgunsusie

you dont honestly believe they will tell us the truth concerning article 8 yet do ya?? talk about speculation runnin rampant.

the part i hilighted is PAST TENSE. how can you have past tense on a subject that is years in the future?? ill tell ya how, its smoke and mirrors.
weekend is almost over, you all ready???

wooooooooooooott!!!!!

Originally Posted by shotgunsusie

you dont honestly believe they will tell us the truth concerning article 8 yet do ya?? talk about speculation runnin rampant.

the part i hilighted is PAST TENSE. how can you have past tense on a subject that is years in the future?? ill tell ya how, its smoke and mirrors.
weekend is almost over, you all ready???

I'm ready Sus!!!! I watch these guys post specifically to you and adding their negative banter to it, you keep coming with the good news and they will eat more than their words in the end!!!!! Bring on the RV!!!!!!