Thread: Iraq/Dinar News. before Febuary 2nd 2006

Originally Posted by DayDream

This article is about "apportionment" in law. See also apportionment (politics)
The legal term apportionment (French apportionement; Med. Latin apportionamentum; derived from Latin portio, share) means distribution or allotment in proper shares.

It is a term used in law in a variety of senses. Sometimes it is employed roughly and has no technical meaning; this indicates the distribution of a benefit (e.g. salvage or damages under the Fatal Accidents Act 1846, § 2), or liability (e.g. general average contributions, or tithe rent-charge), or the incidence of a duty (e.g. obligations as to the maintenance of highways).

In its strict legal interpretation apportionment falls into two classes: "apportionment in respect of estate" and "apportionment in respect of time."

You want to translate that adm in terms of the article?

Cheers!
DayDream[/QUOTE]


Based on the the above, it's my understanding that they'll distribute in the form equal to the dollar.

so...more smoke and mirrors news today from Iraq. I question the piece about the Kurds walking out so as not to reach quarum....lets see where we stand:

HCL......Nope
FIL.......Nope
ICI.......Nope
2007 Budget.....NOPE

I guess things can only get better....what an optimistic outlook. Don't be fooled by the articles stating a slow rise...probably to detur speculators from buying or to get some to pull out. Everyone hang in there.

Originally Posted by adm

You want to translate that adm in terms of the article?

Cheers!
DayDream

Based on the the above, it's my understanding that they'll distribute in the form equal to the dollar.[/QUOTE]

Been waiting on someone to say that ALL day! Exactly what I was thinking!!

WOOOOTTTTTTT

Cheers!
DayDream

Iraq 1954 it's interesting to watch

YouTube - Iraq-1954 Part1

info about De La Rue machines : the machines only count currency it
does not verify authenticity of the bills. Yea i was going to buy one
for my branch also !

DAVOS-INTERVIEW-U.S.'s Kimmitt cites progress on Iraq rebuild
Reuters
Jan 27 2007 18:57

By Stella Dawson

DAVOS, Switzerland, Jan 27 (Reuters) - Foreign donors and the United Nations are close to agreeing on steps Iraq must take to secure funds for rebuilding the country, U.S. Deputy Treasury Secretary Robert Kimmitt said on Saturday.

Iraq had expected billions of dollars in foreign funds after a U.S.-led invasion toppled the regime of Saddam Hussein in 2003. But relentless bombings and kidnappings have kept foreign companies away and less than half the roughly $50 billion estimated to be needed has reached the country.

Kimmitt said the 13-member group working with Iraq and the U.N. is laying out a roadmap for funding reconstruction.
alan HARRIER: "Once a list of Iraqi commitments are concluded, it will then turn to what the international community can do to bridge the gap between Iraq's ability to pay for its needs and the needs of its people," Kimmitt told Reuters at the World Economic Forum.

"I would imagine that would conclude in the months ahead. And then we are still working on Iraq's side of the model, which depends on its passing the hydrocarbons act," he said.

Iraq, which sits on the world's third-largest oil reserves and is a major producer, is working on legislation that would lay out how its oil wealth is distributed.
alan HARRIER: raq and the U.N. launched the International Compact for Iraq in September to seek aid from governments and multilateral organisations, while also encouraging private sector investment into its strategic oil industry.

Kimmitt said Bush's decision to add more troops to Iraq has not affected discussions among foreign donors.

"None whatever," he said.

Pledging of funds has not yet begun.

"I would say it would be concluded this year, but I would imagine that the process would accelerate once (hydrocarbons) law passes the Iraqi parliament," Kimmitt said.

"For our part, we would like to see the process completed as soon as possible."

He said that President George W. Bush's budget, due for release in February, should give an early indication of how much it will contribute to the reconstruction of Iraq.

The goal of the Iraqi reconstruction group is to make the country financially independent within five years. The oil industry, the lifeblood of the economy, has been crippled by insurgent bombings of pipelines.

linkless in kansas...

Just to change the subject from the XXXX posts.
It is almost 9am in Baghdad!

Current time Sunday, 28 January 2007 at 8:57:06 AM
UTC/GMT Offset Standard time zone: UTC/GMT +3 hours
No daylight saving time at the moment

Originally Posted by One Oar

snip Saleh emphasized that the (95%) of the revenues of public budget depend on the proceeds of oil being essential resource of the country, pointing out that the days ahead will be encouraging to lift the dinar's value against the dollar but not can be identified cashed only after the launching, the real in the public budget.

Anyone care to decipher this? Looks like WOOT material to me.

tis indeed a woOt. it says to me that in the days ahead they are going to raise the rate but there will be no announcement or news about it until after they actually do it.

Originally Posted by shotgunsusie

tis indeed a woOt. it says to me that in the days ahead they are going to raise the rate but there will be no announcement or news about it until after they actually do it.

Sounds to me like they may put a clause on foreign investors cashing in for a while..... After we hit 1:1

Originally Posted by wciappetta

This is what I was reminded of. This is from june 06


A dialogue-Yasser acting Secretary sanctuary

Minister of Finance (morning)

Under the draft National Reconciliation

Detection and Finance Minister Mr. Jabr Al statement revealed a profile of the direct economic programme lasting government which would be reflected in the 2007 budget. He was the first modern press after Astizarh Ministry of Finance : The budget will be the first quality they will be under a government elected durable.

The features of the new plan include the expansion of the tax base does not increase and the re-evaluation of property and real estate state and the sale of many of them and the Ministry intends to support and assist the citizen to allocate land plots housing is outside the boundaries of municipalities, according to the controls established in coordination with the Ministry of Municipalities.
Asked about how to expand the tax base and increase the non-citizen said : We have a list of businesses not covered by taxes and seek coverage as an example mobile-phone companies which reap billions of dollars annually for a handful of dinars have no value.
Taxes on businesses
He questioned the minister why does not impose taxes on these companies in Iraq at the time amounting to revenues Lebanon from taxes on companies mobile-phone worth $ 3 billion dollars annually, as well as in the case of Egypt, where obtain a value of $ 6 billion annually from taxes mobile-phone global and reiterated questioning why not do the Iraq example of these States?
He added. We have a long list of the companies covered by this tax to obtain funds to support the budget that source only oil sales, pointing out that 97% of the budget of Iraq depends on oil and this does not exist in any world economy, even in countries Gulf oil, the sources of funding for their budgets to multiple manufacturing and Els Naat other taxes.
On a question about the need for Iraq to the new laws and regulations to implement this programme and plan.
Al said : I believe that all of our laws gives us the power to move a window to implement the ambitious plan that have been established for the year 2007.
Q : But reform mechanisms required by the agreement with the International Monetary Fund have negative effects on the social level?
This question, the Minister of Finance said that the International Monetary Fund seeks as far as possible should not be balancing consumers money oil but sought to be Iraqi funds consumed in the investment volume of operating funds so that the consumption of oil funds strained budget and placed a burden on the citizen according to the minister's opinion, but the opinion that the size of the investment funds push Iraq towards development and progress of this vein, the policy of the International Monetary refuses to be budget-consuming, not only have no work investment.
Real support for the network of social protection
He said : I am at a meeting with the IMF noted that the Fund is supporting the fund a network of social protection, which we believe is important to continue to support and, accordingly put in the principles of the policy in 2007 to support and increase real support network of social welfare which are citizens below the poverty line, pointing out that the Ala Lakh document with the International Monetary Fund have enabled us to write off debts.
Support citizen
Al talked about the reform of the banking sector stressing perceptions Advance endure this sector of reluctance and failure in the banking operations, pointing out meeting with managers of banks, urging them to the need to establish a policy of recent banking clear sophisticated able to support citizen who suffers is the other weakness of the efficiency potential of the material.
He said that the future will activate and develop the performance and activity of the banks in the various sectors of commercial, industrial and real estate for a comprehensive study on the development of the Land Bank and supporting the Rafidain Bank in order to enable citizens to carry out projects that require advances because his salary limited to fill needs.
In the question of (morning) When you, Mr. Minister acknowledged the limited salaries of the citizens to see what Al is improving living staff?
The minister stressed that talk about the standard of living is Concerns He can not magically increase the salaries of staff Yakha inflation and a clog budget because any increase in amounts of money caused considerable damage to the budget in 2007.
But that Sathrk prepared to support the volume of investment funds that would help create hundreds of thousands of jobs armies of the unemployed during 2007.
He said : We will support a strong implementation of investment plans Territories, which amounted to 2 billion dollars Snzidha next year and I have heard and holistic satisfaction that some of the governorates where more than 30 projects, I believe that we must create new jobs and I am not with the creation of job opportunities through employment in the State, but through the private sector. The wages of the private sector becomes better than the public sector.
* Hadithk understanding of the context, the trend is towards a free economy, this is the general framework of the government's economic?
- Yes, he is also
And the direction of another, he said : I can solve problems payroll I know that some staff had been in the injustice of the hierarchy because of the different ministries applications such peace. Having outlined articles (morning), with and I will do my utmost to consolidate peace salaries but we need time to be consolidated.
Theme retirees
Asked about the law and retirement worries retirees
Zubaidi said that the law on the retirement of the Transitional National Assembly has already indicated that the Ministry of Finance transition gaps. I think that this subject has been long overdue and we are waiting for the termination of adding the first day began with the Ministry of Finance met with the Directorate General of retirement and asked to expedite the completion of instruction and study in this regard.
The minister pointed out that the IMF has raised some problems about the retirement law Vbacherna re-examine this law in order to overcome some of the gaps that have occurred that caused the injustice of some staff who provide substantial services to Iraq and the Iraqis.
He warned that the continued application of this law would constitute a significant burden on the state budget, explaining that the volume of funds that acted annually under this law more than 2 billion dollars annually, and that would be borne by the state budget if we add them 3 billion dollars to import derivatives of oil and $ 4 billion card ration so as to arrive Almbl G. to over 10 billion dollars, these funds constitute a financial burden as I mentioned, and then there is a pressing need to examine these matters ... This is what we call the IMF and agreed to re-examine the law to ensure the right of retiree pension and to ensure the right of the State alike.

Turning Minister to the foreign debt of Iraq and $ 125 billion, indicating the completion of the write-off 80% of Iraq's debts in respect of Paris Club debts after resolving the issue of Russia, where we negotiate with, and debt relief and to resolve the matter by reducing the amount of 13 billion dollars to 800 million dollars. He explained that the remainder of the debt and the Paris Club of Egypt, China, Turkey, Poland, has been asked Ambassador in Paris negotiation. And debts between the Gulf Minister that he was subject to the Saudi Minister of Finance, Mr. Ibrahim Al Assaf during a visit to the kingdom, and it was agreed to send a high-level experts to study the issue of debt. And the expectation that the Gulf states Al sister Akram will be from the Paris Club to extinguish Iraq's debts in full. Activate insurers He called Al Iraqi press to reactivate its role in creating awareness of insurance companies and the activation of the national insurance all their activities. But the companies have withdrawn from the market due to the lack of coverage of the potential of major incidents in Iraq and recorded a failure to perform? The minister said : we activate the role of life insurance companies, money, cars, fires, accidents, He gave an example of the Minister fires Alcheorgh as traders believers got their money rewarding compensation and have demonstrated their awareness of the importance of some traders insurance. Therefore, we do insurance companies and their role in support of the citizens and the national economy, insurance civilizational phenomenon. Financial support of the draft National Reconciliation Asked (morning) on the role of the Ministry of Finance of the State of the initiative of the Prime Minister Maliki initiative of national reconciliation? Jabr Al statement said the Finance Minister. I'm initiative launched by the chairman of the Council of Ministers brother Maliki my personal belief of the bloodshed of Iraq and wish to re-Iraq united people and their land, and as Minister of Finance will spare no effort to support this initiative, both in the area of compensation approved by initiative victims or any paragraph came Balmb bulletin. 3 zeroes lifting of the Iraqi dinar In the morning, a question that the write-off of debts of Iraq will contribute to enhancing the value of the Iraqi dinar? Mr. Zubaidi said the statement. The value of the Iraqi dinar for monetary policy, such a policy is the responsibility of the Iraqi Central Bank, the Ministry of Finance is responsible for fiscal policy. He added, but suggested that Mr. Governor of the Central Bank Dr. Sinan Shabibi need to raise the value of the Iraqi dinar and return to normal through the lifting of three zeroes. Voadeni Mr. Governor well to hold an expanded meeting next month to study the proposal by experts in this area of the Iraqi Central Bank, Ministry of Finance and Commercial Bank, namely, the proposals to get the value of the Iraqi dinar equivalent of [to] the American dollar, this goal we will strive to achieve, God willing, during the four years Llahkom e due to the new Iraqi dinar healthy stand of the other currencies. Lastly Zubaidi corresponding reference to the International Monetary Fund to support the resolution Iraqi dinar remarkable considering that the Central Bank of Iraq financially cover $ 11 billion dollars to support the value of the Iraqi dinar and the cover is rarely found in the third world. Thereby taking morning two hours from the time the minister and exited the impression that the new plan will live up the economy of Iraq to the level of developed nations if we wrote them success and support by the government and parliament although gaps Retirement Law remained vague and needed to be clarified more and this will deal with in another meeting with Mr. Alos Ware
__________________________________________________ ______

So it's possible that the recent remarks could mean three or four years since the issue of the new currency. He alluded to this back in June '06 in his famous three zero lift report. By the way 2007 is the fourth year and increasing the dinar value to equal what a 1000 is today would be a lifting of three zeros wouldn't it? Plus he is saying the increase is in the budget.

Azzubeidi said that a decision was made to raise the value of the dinar against the dollar in the budget

of course, as any budget should have the correct value of the corresponding currency for it to be legitimate. now the cabinet are the ones who passed it and it went on to parliament and now they have postponed it until saturday. so it looks as if we get the passing of the budget next saturday and we might very well get a revalue next sunday.