Thread: Raising The Value Of The Dinar

Thanks DayDream,

Good point, and you are correct, there have been so many articles written on the same subject that they all tend to look the same after a while. In addition, during restricted news times, we see so many articles which take old information and simply recycle it with a few other tidbits which makes it even more maddening. This thread should help in narrowing down what is truly new news, and what is merely recycled or misleading news.

Good luck to all, Mike

Thanks OSW....Is it possible to make it a sticky so that it doesn't get lost in the shuffle? That way more people may participate if its left as a reminder to post their articles here when they find them?

Cheers!
DayDream

Good job and needed DD-Thank you.

Originally Posted by DayDream

Thanks OSW....Is it possible to make it a sticky so that it doesn't get lost in the shuffle? That way more people may participate if its left as a reminder to post their articles here when they find them?

Cheers!
DayDream

Thanks again DayDream, will do.

Good luck to all, Mike

Originally Posted by DayDream

I thought it would be a good idea to start this thread so we have an easier way to examine all the news regarding "Raising the value of the dinar" at our fingertips.

There are so many articles out that it becomes confusing. One such article of the past few days has been "labeled OLD NEWS". If we can catalog all these articles with DATES then it will help a great deal in DEBUNKING those who say "thats old news". Plus it will help us to figure out if the CBI and the GOI are trying to give us mis-information.

I will start by posting articles I could locate without digging into our extensive archive here. Please help me in this regard if you have an article that talks about "raising the value" with dates and sources. Most of what I'm posting has no dates or sources. If you have these please PM me and I will edit my post with the "oldest dates" and the sources.

I will list each article separately to make it easier to decipher. Thanks so much for any help you can post. Please try to post any new news about the exhange rate rising here so we can keep it all together. Thanks.

Cheers!
DayDream

Thanks so much DayDream. It will be so much easier to see what is new and what is recycled (which says something too depending on how it is picked up and used by another news source).

While this investment has me keenly interested in Iraq and the Iraqi people, it is great to be able to go to one place to see info on "raising the value" of the dinar. Isnt it amazing that there are enough articles for a whole ongoing thread? We have to be getting close!

Great idea...thanks again for your efforts.
Coxy

Great idea DayDream....thank you!

Now here is a different version of post #8.....Notice the word denied has been inserted in this article which isnt in post #8


21/01/2007
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

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.

(Comparison from post #8 for this paragraph.....The Egyptian Minister of Finance that the 2007 budget had been lifted support for oil derivatives, and confirmed that his ministry had decided to work under a new salary from this month has allocated the funds required, but the House did not approve a plan of implementation so far, pointing out that the value of the Iraqi dinar against the dollar, will be at 1260 dinars for this year with a fiscal policy for the Iraqi dinar to normal.)

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.

Azzubaidi explained that the revenues of selling petroleum products would remain in possession of the Ministry of Oil to be used for sustaining and developing other oil projects, pointing out that lifting the support on oil derivatives has only included the high-quality imported gasoline which is used in modern cars.

He also explained that the Ministry of Oil can purchase the necessary materials used in improving the derivatives from its own budget.

As for the salaries of government employees, the Minister of Finance said that: his ministry had issued directives to pay the salaries according to the new salary scale, but the Parliament has delayed the ratification on implementing the plan due to the lack of quorum which caused the delay in preparing the Parliament's own budget, approving the budget of the Supreme Judiciary Council and delaying the government from presenting the budget to the Parliament.

He pointed out that the new applications of Kurdistan government; including the deduction of its imports directly from the various imports, added another reason to delay the presentation of the budget.

He explained that the Ministry of Finance has put figures for the budget of the Ministry of Defense, considering it as a sovereign Ministry to settle its issue among the parties which called for considering it as a non-sovereign one.

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.

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

See Posts #8, #28, #54 and #62 for comparison to this article

Cheers!
DayDream

Sunday, January 14, 2007 3:41 PM-BT

Dargham of Muhammad Ali
Baghdad - (Voices of Iraq)

Increased demand for the dollar in meeting the Central Bank today, Sunday, a large recording 103 million and 410 thousand dollars compared to 56 million and 840 thousand dollars last Thursday.

This is the highest demand for the dollar in four months.

The daily bulletin of the Central Bank, which received the news agency (Voices of Iraq) independent copy of the request distributed today by 21 million and 910 thousand dollars in cash and 81 million 500 thousand dollars in the form of remittances outside the bank full coverage of exchange rate amounted to 1315 dinars, which is the same rate of the previous meeting.

The bulletin pointed out that the 14 banks submitted bids for the sale of 75 thousand dollars, the bank bought at the 1313 dinars.

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.

He added that the citizen began inclined to buy dinar instead of the dollar because the currency has become more confident because it brings to the detriment of foreign exchange and began to withdraw liquidity from the market and put it in banks, which reduced the inflation to maintain the dinar's purchasing power and lifting and maintain inflation within acceptable limits.

For his part, Mr. Sadiq Abdul Razzaq as far as economic and industrial expert in a statement to Al (Voices of Iraq) "We expect continued high demand for the dollar if the economic climate of stability and security situation on the relative safety undergone by now."

For his part, Mr. Ali Yasiri, one dealing with the auction, the auction currently witnessing a larger turnout than before and regained its vitality and become factors encouraging the purchase of the bank is the depreciation of the exchange rate than it was four months before now maintain the exchange rate is now at its high for dinars, which encourages the purchase of the dollar and transferring it abroad to increase the imported at lower cost, which encourages traders to import different goods at a lower price in dollars.

ÇáÏæáÇÑ - (ÇÞÊÕÇÏ) :: Aswat al Iraq :: Aswat al Iraq

Cheers!
DayDream

Originally Posted by DayDream

Now here is a different version of post #9.....Notice the word denied has been inserted in this article which isnt in post #9


21/01/2007
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

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.

Azzubaidi explained that the revenues of selling petroleum products would remain in possession of the Ministry of Oil to be used for sustaining and developing other oil projects, pointing out that lifting the support on oil derivatives has only included the high-quality imported gasoline which is used in modern cars.

He also explained that the Ministry of Oil can purchase the necessary materials used in improving the derivatives from its own budget.

As for the salaries of government employees, the Minister of Finance said that: his ministry had issued directives to pay the salaries according to the new salary scale, but the Parliament has delayed the ratification on implementing the plan due to the lack of quorum which caused the delay in preparing the Parliament's own budget, approving the budget of the Supreme Judiciary Council and delaying the government from presenting the budget to the Parliament.

He pointed out that the new applications of Kurdistan government; including the deduction of its imports directly from the various imports, added another reason to delay the presentation of the budget.

He explained that the Ministry of Finance has put figures for the budget of the Ministry of Defense, considering it as a sovereign Ministry to settle its issue among the parties which called for considering it as a non-sovereign one.

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.

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

Cheers!
DayDream

I read this earlier today and thought that it was regurgitated info, even though it has today's date. Also to note, the Iraq papers have been off for 3 days.

Baghdad-Press :: Aswat al Iraq :: Aswat al Iraq

Originally Posted by kiko 10-01-2007, 11:20 AM

Minister of Finance : raise the value of the Iraqi dinar aims to raise the value of purchasing Iraqi citizen
Baghdad : Al-Sabah Al-Jadeed Mr. Baker Jabr carried to the Minister of Finance, the Iraqi Central Bank's decision to raise the value of the Iraqi dinar against the foreign currencies is a correct decision and the result of studies aimed to raise the value of a reduction in the purchasing power of the Iraqi people before everything else.

Stressing that the dinar will witness a marked improvement over the current period.

He added that the strike caused fluctuations in the local market due to some rumors that arise for blocking this improvement, pointing out that the plans of the ministry absorbed all future programs in the budget for this year in order to stimulate the Iraqi economy properly.

The minister emphasized that Iraq won the prize of a global financial audit of 2006, as the best process for the settlement of restructuring its external debt.

He pointed out that Iraq has been invited to attend the ceremony which will be held on this occasion in London on January 8, 2007 in a hotel Krothnor will attend the ceremony under the patronage of Princess Mullich the daughter of the Queen of Britain Elizabeth II.

ÌÑíÏÉ ÇáÕÈÇÍ ÇáÌÏíÏ - æÒíÑ ÇáãÇáíÉ: ÑÝÚ ÞíãÉ ÇáÏíäÇÑ ÇáÚÑÇÞí íåÏÝ Çáì ÑÝÚ ÇáÞíãÉ ÇáÔÑÇÆíÉ ááãæÇØä ÇáÚÑÇÞí

No date

************************************************

Thought I'd place another article with basically the same wording with this one for comparison. Originally posted by ezcash 07-01-2007, 07:49 PM


The decision to lift the value of the Iraqi dinar has come as a result of studies value

He said the Finance Minister Baqir Jabr counterpart that the Iraqi dinar is Mlhoudha improvement during the current period.
.He added that the strike caused fluctuations in the local market due to some rumors that arise for blocking this improvement.
.Pointing out that the Iraqi Central Bank's decision to raise the value of the Iraqi dinar against the foreign currencies is a correct decision and the result of studies aimed to raise the value of a reduction in the purchasing power of the Iraqi people before everything else.
.He pointed out that the plans of the ministry absorbed all future programs in the budget for this year in order to stimulate the Iraqi economy properly

وکالة ال�رات العراقية للانباء (sorry this link does not work)


Cheers!
DayDream