Thread: Iraq/Dinar News Before Febuary 12th, 2006

Talabani calls for the support of investment in Iraq, but arrows hard in the reconstruction process
08.02.07

He met with the ambassadors of France, Japan and Sweden. The President expressed concern for the need to strengthen and Tmti n relations with the Kingdom of Sweden, in all fields to serve the interests of Sha between friendly. This came during a meeting between President Talbani in his headquarters in Baghdad yesterday, the Ambassador of the Kingdom of Sweden Capricorn Dr. Nicholas Trovia and his credentials as ambassador LEBL births in Iraq. Talabani, called on businessmen and Swedish companies to invest in Iraq, emphasizing that "the doors Mpto Hah everyone to invest and contribute to the re-Ama t the country "and expressed hope that" the current year p As for the establishment of security and stability in the country. "

Also speaking the President of the Republic, during the meeting, on the progress of the political process in the country and the efforts of interests national e, in addition to developments in the security situation and the security plan Walt j applied in the capital, Baghdad. And the President, at the end of the meeting, thanks and gratitude to the Kingdom of Sweden, king, government and people,

Them to Iraqi refugees, , who left Iraq in the past to escape the injustice of a system the Principles of dictatorial. in contrast, Trovia ambassador expressed the desire of his government in a deepening relations with Iraq, pointing out that the Kingdom of Sweden sensed danger in support and support for the democratic process neighbor Yeh in the country.

He also met with Talabani yesterday, Wednesday, the Japanese ambassador announced Imakuchi, Marking the end of his functions as ambassador of his country to Ara s. And the President, he wished the ambassador Imakuchi Good luck and success in its next to Japan and all the progress and prosperity. And the Taliban, during the meeting, Japan should contribute in the reconstruction of the country and that by encouraging its companies and its businessmen to invest in Iraq, particularly in the governorates safe. In turn, The Japanese ambassador in his country's keenness on supporting Iraq Gov away the people and expressed the hope that the Iraqis are able to Eradication of terrorism and that peace and security prevail in Iraq as soon as possible.

He also met with President Talabani, French Ambassador to Iraq Bernard Bajulie, the transfer of his interest in the developments of the situation in Iraq and the French government was keen to develop relations with Allah blood common interests of both countries. During the meeting, and, the exchange of talk on the latest developments on the ground Elsie Aceh in the country. In contrast, The President of the Republic to the depth of the historical relations between Iraq and France, eager to develop new and Dimomt Ha.

Originally Posted by neno

Normalization Process in Kirkuk Takes Shape

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London, 08 February 2007 (Asharq Alawsat)
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The Kurdistan National Assembly Speaker (KNA), Adnan Mufti disclosed that over 7,000 Arab families, who the former regime had used as a means to change the demographic map of Kirkuk with a policy of deliberate Arabization of the city, have decided to return to their places of origin in return for a generous compensation in accordance with Article 140 of the Iraqi constitution relating to the normalization of the situation in the multi-ethnic city. Deputy speaker of the KNA, Kamal Kirkuki spoke in Arbil (350 km north of Baghdad) and said that “the number of Arab families currently residing in Kirkuk who have registered their names in preparation for their return to their places of origin comes to 4,007 families.”

Speaking to Asharq Al-Awsat from his Abril office in a phone interview yesterday, Mufti said, “a plot of residential land and a grant of 20 million Iraqi Dinars (IQD – the equivalent of approximately US $15,000), in addition to compensation that will be paid to all citizens returning to their original cities. Their possessions in Kirkuk will be valued at generous prices and will not be undermined,” furthermore reaffirming that, “there will be no coercive action taken, it will all be legal and in accordance with Article 130 of the Iraqi constitution.” He explained that, “the city of Kirkuk and the rest of Iraqi Kurdistan’s cities are open to all Iraqis to live and settle in. They are Iraqi cities and every Iraqi citizen has the right to reside in the place of their choice provided that it does not alter the demographic map. Evidence of this is that there are thousands of Arab families residing in Kurdistan’s cities, however these families did not come with the implementation of polices such as the aforementioned, or with Arabization intentions and other such polices that the former regime had practiced.”

Mufti affirmed that “the process is fully constitutional and does not flout any laws, and that the families that want to return to their original cities are the ones who approached with their requests and that there were no coercive measures taken.” He strongly negated, “that there were Kurdish families, Iraqi or otherwise, that have been repopulated in Kirkuk.” He added that, “there are rumors circulating from unreliable sources claiming the existence of Iraqi, Iranian and Turkish Kurds that have been relocated to Kirkuk with the purpose of using them in the referendum. I challenge any party to present us with a name that comes from outside of Kirkuk and that doesn’t belong to one of the city’s original residents. We face the problem that there are Turkmen and native Kurds to Kirkuk who are living in Abril and Sulaimaniya who refuse to return to Kirkuk because of its security situation, and are moreover requesting compensation and financial privileges to return once again to their homes.”

The speaker of the KNA confirmed that the Kurdisatni parliament and government, “will respect any decision taken by the citizens of Kirkuk after the execution of the process of normalization, census and referendum, meaning, after the implementation of Article 140 with all that it entails if the citizens opt against joining the region of Kurdistan,” he added, “According to the attested historical documents and maps, Kirkuk is part of the map of the Kurdistani region and if we now consider the region to be comprised of three provinces, after the referendum it will be included in the map of the region, in the case where its citizens decide upon that.

For his part, Kirkuki confirmed in a press conference in Abril with Agence France-Presse (AFP) that the “the registration of the names of families living in Kirkuk and the surrounding areas who had arrived and settled as a result of the former regime’s Arabization policy to change the city’s demography was still in progress,” without revealing the total number of Arab families that had settled in the multi-ethnic Kirkuk.

It should be noted that the Kurds are requesting that the oil-rich city be added to the Kurdistani region while the Turkmen and the Arabs oppose that.

The Supreme Committee in charge of implementing Article 140 of the constitution has decided last Sunday upon the necessity of “the return of the Arabs, who had come to reside in Kirkuk to their places of origin in central and southern Iraq, in addition to providing them with the appropriate financial compensation.”

The committee, headed by Iraqi Minister of Justice, Hashim al Shebli, has issued the decision to return the Arabs who had arrived in Kirkuk and transfer their ration cards, and that they may return to their old jobs in their places of origin, in addition to giving them a plot of residential land and IQD 20 million. Kirkuki confirmed that “the execution of the resolution is binding and no one is capable of standing in the way of its implementation,” while Turkmen member of the committee, Tahseen Kahya said, “the resolution is optional, not compulsory.”

Article 140 stipulates the “normalization and census and concludes with a referendum in Kirkuk and other disputed territories to determine the will of the citizens, to be implemented at a date no later than 31 December 2007.” Kirkuki warned those, “who believe they are capable of standing in the way of Article 140 from the remaining dissolved Baathist party and the perpetrators of the crime of Anfal [also known as Operation Anfal, the anti-Kurdish campaign led by Saddam Hussein’s Baathist Iraqi regime between 1986-89] that their fate will not be much better than those who led the al-Anfal campaign.”

More than 1,000 Arab figures, both Sunni and Shia participating in the fourth Arab conference have rejected this. The conference was held last Sunday in Kirkuk and was the largest one since the destruction of Iraq. During the conference, the threat of ‘resorting to violence’ in defense of the historical presence of Arabs in the city was voiced.

Normalization Process in Kirkuk Takes Shape | Iraq Updates

well the good news is the 20 million handout grant dosent take place till dec 31 2007. The bad news is 20million dinar handout.... this article clearly states to form an OPINION that by the end of the year the dinar still isnt worth squat. Im still bummed about them talking about a 41 trillion budget this makes no sense but its what they said 41 alpha 680 billon ..and blah blah. Its jjust upseting to hear this kind of news....Then all the sudden tommorw we will here a great article that states at return to normal there making great econmic progress. Talk about a swing in what the fack is going on over there is beyond me. Theres so many good articles out there and then with all this stuff coming down to the wire with the passing of all these laws. They had to put that out there. I dunno what to believe anymore. Is there any where in any articles that states that oil will be sold in dinars instead of currently the dollar. Someone give me a boost

Originally Posted by dinartank

well the good news is the 20 million handout grant doesn't take place till DEC 31 2007. The bad news is 20million dinar handout.... this article clearly states to form an OPINION that by the end of the year the dinar still isn't worth squat. I'm still bummed about them talking about a 41 trillion budget this makes no sense but its what they said 41 alpha 680 billion ..and blah blah. Its just upsetting to hear this kind of news....Then all the sudden Tommi we will here a great article that states at return to normal there making great economic progress. Talk about a swing in what the fack is going on over there is beyond me. Theres so many good articles out there and then with all this stuff coming down to the wire with the passing of all these laws. They had to put that out there. I dunno what to believe anymore. Is there any where in any articles that states that oil will be sold in dinars instead of currently the dollar. Someone give me a boost

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I consider a lot of the News we read as Miss-information or Re-directed media confusion. I have read so many statements that have been translated that come out as pure Gibberish at best. Forget reading all the media dribble and just watch what the CBI and IMF is doing and saying that is the only thing that matters. Everyone else in Iraq is trying to attract attention to themselves so they feel important.

People or Institutions to watch:

#1. CBI
#2. PM of Iraq
#3. IMF
#4. World Bank

The rest is just hearsay and speculation on all others Info out of Iraq.
If you have the time then don't worry about the RV we will see it at some point in our History.

JMHO

Originally Posted by dougmyers

==========================================

I consider a lot of the News we read as Miss-information or Re-directed media confusion. I have read so many statements that have been translated that come out as pure Gibberish at best. Forget reading all the media dribble and just watch what the CBI and IMF is doing and saying that is the only thing that matters. Everyone else in Iraq is trying to attract attention to themselves so they feel important.

People or Institutions to watch:

#1. CBI
#2. PM of Iraq
#3. IMF
#4. World Bank

The rest is just hearsay and speculation on all others Info out of Iraq.
If you have the time then don't worry about the RV we will see it at some point in our History.

JMHO

its time to watch the parliament as they have the last ball in their court.

Originally Posted by shotgunsusie

its time to watch the parliament as they have the last ball in their court.

=============================

Yes but now they are off on another Month long vacation!

I have never seen a Country is such poor shape take so many Vacation as its people are dieing and struggling to survive.

Bush tell them to get back to work!

Expert calls for activating quotation system

05 February 2007 (NINA)

An economic expert has called the official institutions to re-activate the central quotation department, which had been abolished by the former regime.
Kareem Abdul-Razaq, PhD, from the economic research and studies department in Baghdad University, said: "This system was one of the major systems which used to control the market and curb the increase of prices, which resulted in some stability in the Iraqi market in addition to boosting the Iraqi currency exchange rate."

He added that this system plays a great role in controlling inflation rates, which has threatened the Iraqi economy's fundamentals.

The former regime disbanded this department in the 1980s and replaced it with economic security apparatus, which was not a good alternative, and then the problem got worse after the sanction was imposed on the country, according to the source.

Originally Posted by shotgunsusie

its time to watch the parliament as they have the last ball in their court.

Am I right in thinking the "last ball" might be the HCL?

Originally Posted by dougmyers

=============================

Yes but now they are off on another Month long vacation!

I have never seen a Country is such poor shape take so many Vacation as its people are dieing and struggling to survive.

Bush tell them to get back to work!

not yet. this session is to end on saturday which is tomorrow. no reason why they wont extend it a day also. they have before. one reading in the bag, one to go and then a vote. we know contracts have been written and are waiting on a price. we know that monies have begun to be handed out. monday is going to be very interesting to say the least.

Originally Posted by Cdn Scrooge

Here is another article about the passing of the budget and this one is a little easier to read.....


Voices of Iraq: Parliament-Session-Update 1

BT10:04 PM -2007 -كتب: saleem في يوم الخميس, 08 فبراير,


Parliament-Session-Update 1
Parliament passes 2007 national budget
By Santa Michael
Baghdad, Feb 8, (VOI)- Iraq's Parliament approved on Thursday a ID 42,640,000 million (USD 32,200 million) FY 2007 budget.
The budget approval was delayed for almost two weeks for differences among major blocs over two issues, the financial appropriations for the three presidencies and allocations for Iraq's Kurdistan region's guards (peshmerga).
The parliament passed the 2007 budget in Thursday's session with majority after an agreement was reached to move five percent of the total financial appropriations to the parliament presidency office.
Earlier, the parliament speaker today's ordered a private session to give the defense minister, who was present at the session, a chance to answer lawmaker's enquiries openly.
Some legislators asked the Speaker to declare a private session so that the defense minister could answer all enquiries without harming any classified information that he might be mentioning during the session.
Speaker Dr. Mahmoud al-Mashhadani who chaired today's session ordered all journalists out of the parliament hall.
Thursday's session, the last before a month recess, was expected also to vote on the proposed 2007 national budget

Parliament-Session-Update 1 :: Aswat al Iraq :: Aswat al Iraq


The way I read this is that the budget is for 42 trillion, 640 billion NID (42,640,000 million) which is equal to 32.2 billion USD (32,200 million) so I don't see where there is a reval in this budget. 42.64 trillion NID = 32.2 billion USD. Therefore 1USD = 1324.3 NID (42,640,000,000,000 divided by 32,200,000,000). However, that being said the 1324.3 rate does not reflect the current rate of 1288 as per the CBI website. My feeling is that the budget was finalized last December when the rate was around that level and they are not worrying about adjusting it to pinpoint the actual values. That means that the budget will have to be re-calculated as the value of the dinar changes. At any rate I don't see the infamous "1260" or "1000" rates reflected here. Also interesting that the original estimate of the budget was 42 billion USD and now it's 32 billion. Looks like they did some trimming and coincidentally the 2006 budget was around 30 billion USD.

I see both good and bad in that. To me it means that the rate can be adjusted slowly or in one big adjustment. The budget will not dictate the rate. Actually, that is the way it should be as the CBI is the one that sets the rate and they are distinct and separate from parliament. Now the big question is when will the CBI adjust the rate and to what level. And for that I haven't been able to find a crystal ball that is clear enough. All the ones I have been able to find are clouded by a lot of smoke.

Here is an article on the budget from Reuters....


Iraq approves $41b budget

Feb 9, 2007

Iraq's parliament has approved the budget for 2007, which sets a spending forecast of $41 billion and a deficit of $7.14 billion.

Total revenues are projected at $33.3 billion, largely from oil exports, the Arab country's main sources of revenue. The figure is based on average exports of 1.7 million bpd from Iraq's southern oil terminals with a price of $50 a barrel.

Ayad al-Samarrai, who heads the parliament's financial committee and who read the final draft before it was approved, said the $7.14 billion deficit would be covered through surplus funds from 2006.

The budget assumed an exchange rate of 1,260 dinars to the dollar.


Source: Reuters

Iraq approves $41b budget | BUSINESS | NEWS | tvnz.co.nz

First article says a total budget of 42.64 trillion NID or 32.2 billion USD. The exchange rate (42.64 trillion NID = 32.2 billion USD) would be 1324 and I looked it up and the last auction rate posted by CBI in 2006 was 1325. Second article says 41 billion USD and the exchange rate used was 1260.


A friend of mine once said that every country song was about "lyin cryin or dyin". Well, the Iraqi people are cryin and dyin and I guess the politicians and/or media are doing the lyin. Somebody is sure fibbin here cause the two articles are supposed to be talking about the same thing but the numbers sure are different. Only thing both articles agree on is the fact that the budget was passed. That in itself is a good thing.

Originally Posted by Cdn Scrooge

Here is an article on the budget from Reuters....


Iraq approves $41b budget

Feb 9, 2007

Iraq's parliament has approved the budget for 2007, which sets a spending forecast of $41 billion and a deficit of $7.14 billion.

Total revenues are projected at $33.3 billion, largely from oil exports, the Arab country's main sources of revenue. The figure is based on average exports of 1.7 million bpd from Iraq's southern oil terminals with a price of $50 a barrel.

Ayad al-Samarrai, who heads the parliament's financial committee and who read the final draft before it was approved, said the $7.14 billion deficit would be covered through surplus funds from 2006.

The budget assumed an exchange rate of 1,260 dinars to the dollar.


Source: Reuters

Iraq approves $41b budget | BUSINESS | NEWS | tvnz.co.nz

First article says a total budget of 42.64 trillion NID or 32.2 billion USD. The exchange rate (42.64 trillion NID = 32.2 billion USD) would be 1324 and I looked it up and the last auction rate posted by CBI in 2006 was 1325. Second article says 41 billion USD and the exchange rate used was 1260.


A friend of mine once said that every country song was about "lyin cryin or dyin". Well, the Iraqi people are cryin and dyin and I guess the politicians and/or media are doing the lyin. Somebody is sure fibbin here cause the two articles are supposed to be talking about the same thing but the numbers sure are different. Only thing both articles agree on is the fact that the budget was passed. That in itself is a good thing.

If this is true and they are going to print 42.64 trillion NID. That is a joke. You can kiss dinar goodbye and see a reprint coming. Who cares what the GOI or Maliki say. A reprint is going to happen if this is true. Think about it folks. What country do you know of that has even close to 42.64 trillion of thier currency in circulation? And that is just for the budget , not total! Either this is a smokescreen or the end of our dreams.....