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

A report concerning an Iraqi minister on television - pointing to stacks of USD and dinar - while saying that very soon these two stacks of money will be equal in value - can not seem to be verified by anyone.

I deleted the post.

Originally Posted by ordinaryseawoman

Minister of Finance: support of oil derivatives continuous
Salary increases are calculated from this month, the dollar worth 1260 dinar this year and will drop to one thousand dinar soon
Translated by IRAQdirectory.com - [21/01/2007]


The Minister of Finance denied that the 2007 budget had lifted support for oil derivatives, and confirmed that his ministry had allocated the funds required for the new salary scale which will be implemented this month, but the Parliament did not approve the plan of implementation so far, pointing out that the value of the Iraqi dinar against the dollar will be 1260 dinar for this year with putting a fiscal policy to restore the strength of the Iraqi dinar. Minister of Finance, Baqer Azzubaidi, said that: the value of crude oil pumped from Iraqi oil fields to the refineries that belong to the Iraqi Oil Ministry worth seven billion dollars, which represent the government support for petroleum products; also, three billion dollars have been allocated from the financial budget to cover the expenses of constructing new refineries and maintaining the current ones, with a further $ 300 million to buy kerosene.

Snip...

This caught my eye as well.

Azzubaidi emphasized that the Ministry of Finance and in consultation with the Central Bank seeks to identify the exchange rate of the dollar at 1260 dinar during the this year. It also laid down a plan to restore the Iraqi dinar to its former era during the coming three years expressing his hope to stabilize its exchange rate at 1000 dinar for the dollar during the coming period. He pointing out that the inflation is not a fixed situation but a temporary one, and that one of its causes is the crisis of leaking goods into the Iraqi depths from the ports because of the terrorist operations; also, the rise of the prices of oil derivatives during crises forms another cause for inflation.

Regarding the current year budget, Azzubaidi described it as ambitious; eight billion dollars have been allocated for security for the first time, despite the allocation of large amounts for investment that will contribute to solve the crisis of unemployment and increase economic growth by 8-10%, so as to ensure the completion of service projects in all governorates.

He said the remaining funds from the final account of last years amounted to eight billion dollars, and that the government would provide final budget to the Parliament during the first quarter of this year.
Prepared & Translated By:
IRAQdirectory.com Team
Iraq Daily Business Updates

http://www.iraqdirectory.com/DisplayNews.aspx?id=2994

Whoa...there's a lot of words in this article that are just not making sense to me...

The part I highlighted below yours leaves me to think we have some more waiting to do. I really hope this is some more spin to throw us off though.

د. حسين جواد كاظمD. Hussein Jawad Kadhim
من المتطلبات الاساسية لعملية اصلاح الاقتصاد العراقي هي تنويع هيكل الاقتصاد الوطني، اي بمعنى آخر التخلص من الصفة الريعية للاقتصاد المحلي والمتمثلة باعتماده على القطاع النفطي. وكما تشير تقارير وزارة التخطيط والتعاون الانمائي فان الجزء الاكبر مما يتوفر في موازنة الدولة الاستثمارية للسنوات القادمة مضافاً اليها المنح والمساعدات

The world will be in the rehabilitation of infrastructure, such as electricity, water and sanitation, telecommunications, irrigation systems and drainage region, as well as health and education services. Based on that highlights the need to move towards inviting foreign capital to invest in Iraq and to contribute to the advancement of economic advancement.
Iraq possesses the proper legislative framework, which allows for the establishment and registration of foreign companies and the Iraqi joint under the Investment Law No. 39 of 2003 as a body for the promotion of foreign investment in July 2005 on the basis of (the principle of one window).
And generally can be identified legal frameworks that have been taken towards the activation and attraction of foreign investments to Iraq the following :
1 procedures allowing foreign ownership of 100% in all sectors except natural resources (ie oil).
2 ـ .Two direct ownership and joint ventures.
3 ـ Treatment of foreign companies on an equal footing with local firms.
4 level and the tax was imposed companies income tax rate of 15% maximum. As of the first of / January 2004 which is low compared to the previous resolution of this (40%).
5 In the area of customs tariff was to impose a fee on behalf of (a reconstruction) or (5%) was amended to (10%) for all imports except for humanitarian goods.
However, though these features important to the investment decision, it is not the only factor behind decisions on capital flows. Since the issue of attracting foreign investment into the country requires the availability of the institutional infrastructure and ease the administrative procedures and operational, and financial transactions tax and a sophisticated banking system that meets the requirements of investors and operate according to the market mechanism, and that most of these things are currently unavailable in the Iraqi economy, especially with the absence of political stability which is the final arbiter of investment decision.
Thus, the flow of foreign investments into Iraq required (assuming achieve security and stability) outstanding efforts at the level of transition elements in the financial sector as well as the level of public financial arrangements as well as the reform of monetary policy, exchange rate, and marketing efforts and to be distinguished foreign investment legislation and policies of economic openness in general legalized controls and restrictions established by the state to regulate this process.

Translated version of http://www.alsabaah.com/

Irish Examiner> Breaking News> Sport

Out of Iraq Now

Business Day - News Worth Knowing

ÌÑíÏÉ ÇáÕÈÇÍ - ãÌáÓ ÇáäæÇÈ íÕÇÏÞ Úáì ÚÏÏ ãä ãÔÇÑíÚ ÇáÞæÇäíä ÇáãåãÉ

ÌÑíÏÉ ÇáÕÈÇÍ - åá ÊÝÔá ÂáíÉ ÊæÒíÚ ÇáãÔÊÞÇÊ ÇáäÝØíÉ ÇáÌÏíÏÉ ¿

ÌÑíÏÉ ÇáÕÈÇÍ - ÇáãäÇØÞ ÇáÂãäÉ ãä ÇáÚÑÇÞ ÈíÆÉ ÇÓÊËãÇÑíÉ ÌÇåÜÜÒÉ

ÌÑíÏÉ ÇáÕÈÇÍ - ÇáÇÓÊËãÇÑ ÇáÃÌäÈí Ýí ÇáÚÑÇÞ Èíä ÇáÃØÑ ÇáÊÔÑíÚíÉ æ ÇáÈíÆÉ ÇáÇÓÊËãÇÑíÉ

ÌÑíÏÉ ÇáãÏì - ÇÚÊÈÇÑÇð ãä ÇáÃæá ãä ÂÐÇÑ.. ÇáäÝØ: ÒíÇÏÉ ÓÚÑ ÇááÊÑ ÇáæÇÍÏ ãä ÇáÈäÒíä Çáì 400 ÏíäÇÑ

1. Note : * The sale price of remittances dinars (1296) / $. Sale price * cash (1309) dinars / $. * Cash purchase price (1307) dinars / $. 2. The quantity sold, the amount of cash (18.560.000) dollars and the amount of remittances (85.680.000) dollars.

Originally Posted by Dinar Cha Ching

So does this mean it gets put off until next week for the vote in Parliament or does next week mean this week? I thought it was going to Parliament this week.

im saying early next week when they said it last week would mean this past sunday 21st. that is when they passed the laws that have been waiting for awhile. so it went to parliament end of last week to be attended to this week which they certainly did.

1238

Been thinking about the 1260 / 1000

I'm thinking the CBI is going to target the 1260 slowly as they are doing now then hold at 1260 for a few months to flush out the weak and then pop a reval of 1000 around September-October then January 2008 throw a big reval.
JMO no source.

Originally Posted by Inscrutable

1238

Been thinking about the 1260 / 1000

I'm thinking the CBI is going to target the 1260 slowly as they are doing now then hold at 1260 for a few months to flush out the weak and then pop a reval of 1000 around September-October then January 2008 throw a big reval.
JMO no source.

all a person needs to do is read the nes and they would not sell off any of thier dinar..

like theses ones

statement by the Minister of Finance <very important>, in terms of equality of the dinar dollar, pointing out <that it is pleasant to the hearts of Iraqis, who are looking to restore the strength of the Iraqi currency, as it was before the 1990s of the last century, he wondered whether the national economy in its current capable of the transition to equal dinar dollar>? Bono, however, has often including the Minister Zubaidi on the support and backing of the World Bank

Minister of Oil and Governor of the Central Bank we met with the IMF and in one of the meetings, suggested to the the governor's must strengthen the Iraqi dinar and to return dear generous as is the Iraq history and civilization, and at least if not the Iraqi dinar equivalent to about three dollars

For his part, Sinan Shabibi governor of the Iraqi Central Bank monetary policy established by the Central Bank to support the exchange rate of the dinar supports the investment budget was done in collaboration with the Ministry of Finance.
He pointed in his presentation to the policy of the Central Bank today to the House of Representatives to raise the exchange rate is the decision of the bank, to increase the confidence of citizens in Iraqi dinars and increase the acquiring of dinars in addition to making the dinar is a store of value which contributes to the withdrawal of inflation

lift the value of the Iraqi dinar, and return to normal»

restore the strength of the Iraqi currency, as it was before the 1990s

of gold the Iraqi topic the secretariat in Switzerland, whose value amounts to hundreds of billions of dollars, and here like to note the fact that that gold is to cover the the value of the Iraqi currency


CAN I GET A WOOOOOT!!

Woot!

That sounds great to me

Originally Posted by $onedaysoon$

all a person needs to do is read the nes and they would not sell off any of thier dinar..

like theses ones

statement by the Minister of Finance <very important>, in terms of equality of the dinar dollar, pointing out <that it is pleasant to the hearts of Iraqis, who are looking to restore the strength of the Iraqi currency, as it was before the 1990s of the last century, he wondered whether the national economy in its current capable of the transition to equal dinar dollar>? Bono, however, has often including the Minister Zubaidi on the support and backing of the World Bank

Minister of Oil and Governor of the Central Bank we met with the IMF and in one of the meetings, suggested to the the governor's must strengthen the Iraqi dinar and to return dear generous as is the Iraq history and civilization, and at least if not the Iraqi dinar equivalent to about three dollars

For his part, Sinan Shabibi governor of the Iraqi Central Bank monetary policy established by the Central Bank to support the exchange rate of the dinar supports the investment budget was done in collaboration with the Ministry of Finance.
He pointed in his presentation to the policy of the Central Bank today to the House of Representatives to raise the exchange rate is the decision of the bank, to increase the confidence of citizens in Iraqi dinars and increase the acquiring of dinars in addition to making the dinar is a store of value which contributes to the withdrawal of inflation

lift the value of the Iraqi dinar, and return to normal»

restore the strength of the Iraqi currency, as it was before the 1990s

of gold the Iraqi topic the secretariat in Switzerland, whose value amounts to hundreds of billions of dollars, and here like to note the fact that that gold is to cover the the value of the Iraqi currency


CAN I GET A WOOOOOT!!

Bono? From U2?

Lift the value and return to normal, normal would be smaller notes.

When they mention hundreds of billions I believe they mean of all the gold the secretariat holds, not just Iraq's gold but the amount Iraq has in Switzerland will be used to back the dinar. 4 tons I believe.

المناقصة المرقمة (1/2007)

يدعو البنك المركزي العراقي وكلاء الشركات المدرجة ادناه في العراق والمسجلين لدى دائرة تسجيل الشركات في زارة التجارة حصرا لتجهيزه بمولدة حديثة مع كاتم صوت مزود بتبريد وتهوية وبحجم (1-1.25 ميكا واط ).

www.cbiraq.orq

Tender numbered (1 / 2007) calls on the Central Bank of Iraq and the agents of foreign companies listed below in Iraq and registered with the registration of companies in the Ministry of Commerce exclusively for processing birthday interview with the Voice of fullness fitted Ptbrid, ventilation and size (1-Mika 1.25 watts).