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

Has The Iqd Started To Trade On Forex Yet? If Not Does Anyone Have A Feel When It Might Start. Also, Does Anyone Have A Feel For How High The Currency Value Might Have To Go Before Speculators Drive The Price Up Without Cbi Intervention?

The postponement of the parliamentary session

.A source in the office of the Speaker of the Iraqi Parliament Mahmoud Almshahadani today, Thursday, to the presidency of the Council decided to postpone the meeting due to be held the day after tomorrow, Saturday, to Sunday.....

The official added that the reason behind the postponement, the media is to ensure the presence of members of the parliamentary session, But parliamentary sources other Arjath concern to a large number of members of Parliament in the celebrations

وکالة ال�رات العراقية للانباء

The Central Bank of Iraq depends buying and selling rates
(Voice of Iraq) - 01-02-2007 shall Sotaliraq.com

The Republic of Iraq
Council of Ministers-the governmental communications
Media Relations
A press statement / Press Release
Thursday 2 - 1-2007

The Central Bank of Iraq depends buying and selling rates for the dollar today, Thursday, until the end of office hours on Sunday, February 4 this


The Iraqi Central Bank made buying and selling rates for the dollar on Thursday, February 1, 2007 until the end of office hours on Sunday, which falls on February 4, 2007 and pledged to meet the demand for foreign currency without limit and regardless of the quantities required and all its customers. This last part sounds really, really good!

Sotaliraq.com

Looks like they are trying to figure out away to reduce the delays that have been going on

Black"]Member of Parliament confirms that the multiple sources of resolution in Iraq
(Voice of Iraq) - 01-02-2007 shall Sotaliraq.com

Member of Parliament confirms that the multiple sources of resolution in Iraq would weaken the government's performance

- BAGHDAD / voices /
Member of the House of Representatives from the Iraqi List Mahdi Al-Hafiz yesterday, Wednesday, "that the multiple sources of resolution in Iraq would weaken the government's performance," pointing to the existence of several sources of decision-making within government institutions.

He added Hafiz, in a meeting with one of the satellite channels yesterday evening that "the problem facing Iraq now lies in the performance of the state, as there are flaws in the performance of their institutions because of several centers of power within the same institution."

The keeper, "The reason for this diversity in the centers of power resulting from the accumulation of errors resulting from the sectarian quotas that threaten Iraq and weaken."


Sotaliraq.com

Originally Posted by elgordo

Has The Iqd Started To Trade On Forex Yet? If Not Does Anyone Have A Feel When It Might Start. Also, Does Anyone Have A Feel For How High The Currency Value Might Have To Go Before Speculators Drive The Price Up Without Cbi Intervention?

IMO I don't think they will or can trade it on the Forex before a reval, so I think that kind of answers the question as to when they might trade on the Forex. I also think that it will still take CBI intervention to encourage the currency speculators with all the violence that is still taking place on a daily basis. By the CBI continuing to influence in a positive manner this will prove to outsiders that they are still confident in the potential of the dinar and encourage speculators to jump in.

Originally Posted by MC Dig

I am all for $1.29 and see no obstacles to an r/v at that rate. However, if you won't get there by scooting the decimal. It works like this:

Right now
1 USD = 1290 IQD or 1 IQD = .0007751 USD
move the decimal over 3 spots gets you
1 USD = 1.290 IQD or 1 IQD = .7751 USD

So as you can see a decimal move or three spaces, at the current rate makes each Dinar worth about 77 cents.

Perhaps we should make this sticky, about every couple of weeks this math thing keeps popping up and people keep saying a decimal move is going to make the dinar worth $1.29. This is not the case.

I would not be at all surprised at an r/v of $1.29 I am not saying that this is not likely or that they can't do it. They can do whatever they want and I believe that $1.29 is a possibility and a good thing. However they will not get there by shifting the decimal over three spaces.

Peace
Michael
aspiotisdesign.com

I couldn't have said it better myself.

If there is a peg to the Euro, 100% or 93% or whatever, then the USD value of the dianr will be what is EurUSD pair is trading at the time of calculation Times the percentage rate of the peg in decimal form. As the EURUSD rate varies daily, it is impossible to predict with accuracy what the dinar's rate will be, because of two factors. 1. The variation in the Forex daily rate for the EurUSD and 2. the exact percentage of the peg.

BTW this doesn't not negate MrsCK CEO portion of her rumor.

ices of Iraq :: تجارة - الاردن-منظمةTrade-Jordan-World
كتب: nakr2004 في يوم الخميس, 01 فبراير, 2007 - 09:29 PM BTBooks : nakr2004 on Thursday, 01 February 2007 9:29 PM-BT

مؤتمر لبحث إنضمام دخول العراق في منظمة التجارة العالميةConference to discuss joining Iraq's entry in the World Trade Organization
من هادي الهاديBy Hadi Hadi
عمان-( أصوات العراق)Amman - (Voices of Iraq)
.The United States Agency for International Development in cooperation with the Chamber of Commerce and Industry and sponsored by the Iraqi American company Microsoft world today, Thursday, in the Jordanian capital of Amman for the first preparatory conference in 2007, which examines the creation of conditions for Iraq to join the World Trade Organization.
.He said Gregg Howell official economic development of the private sector in the Iraqi Agency for International Development News Agency (Voices of Iraq) Independent that the meeting focused on the issue of investment in Iraq passed by the parliament during the presentation of the Iraqi new investment opportunities and join Iraq WTO member after it holds observer status in the WTO.
."He added, "At the end of February next Iraq will attend its first meeting with the World Trade Organization, after having held several meetings with officials of the Iraqi government, especially Prime Minister's Office and the ministries concerned with (Trade and Industry) and is part of the activity of the Agency for International Development."
."He explained, "are now working with Iraqi banks to exercise the modern techniques in bank accounts in addition to the work to develop safeguards for financial loans, as well as work with universities in different Iraqi governorates of Iraq to be trained to conduct accurate calculations." .He pointed out that the objectives of the Agency's work with the Iraqi government is increasing the number of companies based investment and thus create jobs for the unemployed and their inclusion and laying the foundation stone for the creation of an atmosphere investment belonged to the Iraqi government through the definition of several investment opportunities and to facilitate the arrival of these companies to Iraq.It is noteworthy that the conference was held attended by representatives of the Ministry of Trade and Foreign Affairs to the Iraqi companies and foreign investors.
ح نH n
Translated version of http://www.aswataliraq.info/?newlang=ara

A number of parliamentary figures proposed law allocations of oil for the Iraqi people, and the proposal to the presidency of the Council. And demanded that she be examined and inclusion on the agenda, with a view to be discussed and endorsed, while deputy Mahdi Al-Hafiz remarks on the proposed legislation, including amendments and suggestions of additional complementary

The most important items in the proposed law, the allocation of oil to the Iraqi citizens on the basis of 20 thousand dinars from oil imports every child born in Iraq, until the age of six years old, and 30 thousand Iraqi dinars each exceeded the age of six years until the age of eight, and 50 thousand dinars each Iraqi completed eight years. And deduct a proportion of not less than 30% of oil imports and distributed to the age groups mentioned. The International Committee of the oil, gas and natural resources in the House estimate of the 30% end of each year, the government is working on the monthly disbursement of the age groups covered allotments. And the current Deputy Minister of Planning and Development Cooperation, former Mahdi Al-Hafiz, remarks in which he said that the idea is good in principle, and justified for the reasons mentioned in the proposal of the law, and must be addressed within the framework of the State's general budget, in conjunction with the size of allocations for public services and the ration card and the salaries of retirees and the social safety net. He added that the monitoring of the proportion of 30% of the oil revenues, or more than $ 10 billion annually is not possible while maintaining the same volume of expenditure on the above-mentioned areas. Changes in the budget necessary to include the proposed allocations in the proposal and considerations or standards task to develop the proposal, as appropriate, including giving special importance to the provision included in the current year's budget, in the areas of investment, amounting to 10 billion dollars. The keeper to think about the proposal for independent fund these allocations new distribution rates, in the light of other areas of expenditure on the welfare of the community above. He suggested naming him <SFD> or <Social Welfare Fund,> and in some foreign countries all Iraq oil-Ishtar Ahmed

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Originally Posted by blackwulf

Indmn, I believe SimplyD was saying "one day" the "hope" of the NID will be worth $1.29.

Thank you so much for understanding my point.
From my standpoint this has nothing to do with math, it is merely
about moving a decimal point.

It is possible that one day that 1NID could eventually = $1.29USD

Originally Posted by BrabusSV12S

Thanks Mike, Neno and CDN Scrooge for your responses. I do understand that the amendments are to the Constitution. Sorry if I was not clear about that. My understanding is that what we are seeing is discussion and coming to agreements on the amendments. What I have been told is that those amendments could take months to go through the process and be finalized even after everyone is in agreement. I just don't know enough about the process to be certain about the timeline. I hope for everyone's sake that what I'm hearing is wrong and that it's just a matter of voting and signing the amendments into law.

Thanks again for your input.

Brabus

Civil society : Observations and proposals on legal articles (111, 112) of the Iraqi Constitution



Mohammed al-Musawi *
Article (111) of the Constitution stipulates that the (oil and gas is the property of all Iraqi people in all regions and provinces) of this article, the following observations



1 - they relate to the riches of Iraq and this is not set forth in Part I is devoted to the basic principles in spite of the gravity and importance, but came in the section devoted to the authority of the federal government despite the fact that the article that followed, which stipulates how to manage this wealth had made a joint jurisdiction between the federal government and the producer, this contradiction formality is not supposed to fall into the organization of the articles of the Constitution.
2-it only natural suppliers of the natural resources of Iraq and its wealth having been confined to oil and gas exclusively and the rest is left without regulation or left to the local authorities and hand Launched this illogical and dangerous.
3-a rule that the way they have been provided as stated in the article that followed the article (112), which is problematic Adhoxhtirh.
4-did not refer to the Constitution reassures him to the mechanisms of the Iraqi distribution of wealth is what makes ambiguity is the master of the situation in this grave matter.
5 - The words in all regions and provinces after the words all the Iraqi people and those words and that was superfluous only that their status may raise problematic disbursement of resources to the Iraqis outside the country Kalmovdin, scholars and others who may need sums of money that could be interpreted as stating that the resources given to the Iraqis, as long as they are within the regions or provinces.
Article (112) of the Constitution (First : The federal government management of oil and gas extracted from existing fields with provincial and district government produced, to be distributed imports equitable proportion to the population distribution in all parts of the country, with the quota for a specific period of the regions affected, which has been denied them unfairly by the rules of the Principles, which was damaged after that, which would ensure balanced development of the various regions of the country and regulated by law. Second : The federal and provincial governments and the producing provinces together policy-making strategic outlook necessary for the development of oil and gas a way that achieves the highest benefit to the Iraqi people approved the latest techniques of market principles and encourage investment), this article raises serious following observations :
1 - also had received this article in the door of the jurisdiction of the federal government when they should be reflected in the basic principles of gravity and must be consistent and rule before.
2 - The (first paragraph), including the right of joint management between the federal government and provincial and district government produced and this contradicts the statement in Article (111) of the oil and gas belongs to everyone as it is not reasonable monopolize these categories (federal and producer) Power isolation from the Territories and the other governorates which supposedly is also the owner of this wealth, which is a contradiction or a constitutional violation of the constitution and clear.
3 - The right of this paragraph is also the joint management of the fields present only what is the fate of the fields is also not the future belongs to all the Iraqi people that this is a clear violation of the constitution and with the principle of public ownership.
The four-paragraph (I) also share other words are affected regions have been affected territories No words are words governorates points to the right of the affected territories, without the affected provinces, as well as that these words are not replaced in the Constitution because it can be agreed upon detailed later through law regulating the management and distribution of national resources, which we intend proposal.
5-short paragraph II of the same article, the right policy on oil or gas the federal government, regions and provinces produced only and this violates the principle of public ownership of all the regions and governorates also
6 - The second paragraph also words at the end of which is (certified the latest techniques of market principles and encourage investment), these words strange and ambiguous paragraph talking about the policies and this phrase talking about techniques but what is meant techniques of market principles and the relationship of words to encourage investment thereto, we believe that such a phrase vague clumsy and whether intended to oil policy in Iraq will adopt a market economy and encourage investment phrase in their current form is not enough, if the intended use of modern Western again I phrase is inadequate.
Based on the above observations and to avoid shortcomings and ambiguities, which they occurred these articles - that was not intended - we suggest the following :
1-a general text that defines the natural resources and wealth of national all belong to the Iraqi people but not limited to a certain type of this wealth. The law leaves the details to be referred to in the constitutional text.
2 - that this text in Part I of the basic principles in the Constitution.
Three-way to organize the distribution and management of these resources is called the law of the management and distribution of the national wealth and resources, and cancel Article (112) to go to the law
4 - monopolize the abolition of the idea of the Federal government and produced only policy-making, distribution and use of the phrase of equal or equitable distribution of the population according to the exclusion of the words fair because it is problematic interpretation.
5-to cancel the idea of existing fields and circulation management at all fields current or future.
6-to catch up with the franchise after referring to the law governing the process of distribution and management phrase ensure equitable distribution and equal according to the number of the population.
7 - that the law of the management and distribution of wealth without stating on participation of all Power by Council comprises the representative of the government of Yugoslavia, for example, (Deputy Prime Minister's Adviser on the natural resources) and which must be the selected person is of experts in this area in addition to representatives of all regions and Iraqi governorates, without exception because they all landlords to promote and further enhance this Council of experts and specialists and gives the necessary powers for the formulation of policies and the fair distribution of equal to all members of the Iraqi people, achieve the highest the benefit of possible also This law regulates the process of the management of all oil fields current and future and by the all not producing and federal Addendum to be the resolutions of this Council subject to the approval of the parliament.
Based on all the above, we propose that the text on the wealth and resources of Iraq in the constitution as follows ((natural wealth and resources all belong to the Iraqi people, and organized way management and distribution of the law, ensure collective management of all regions and provinces, and the fair distribution and equal according to the number of the population)) with reference to the need for this provision in Part I of the basic principles in the Constitution and that the subject amendment to the approval of two thirds of the members of parliament. Or that the text as follows ((First : the wealth and natural resources of all the property of all the Iraqi people. Second :-a council called the management and distribution of natural resources and wealth governing powers and its law. Third :-ensure that the management and distribution of natural resources and wealth to involve all regions and provinces in the administration in addition to the federal government and ensures equitable distribution, equal, according to the number of population of all this wealth and resources and achieve the highest benefit and development of the population and believe that this provision precludes any attempts to fragment the natural wealth can be created from the current text contained in the Constitution, which is one of the most significant points of disagreement among the Iraqis.

* Legal Researcher
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