Thread: Iraqi/Dinar news until March 1st, 2007

To modernize the Iraqi Central Bank

To modernize the Iraqi Central Bank
Translated by IRAQdirectory.com - [26/02/2007]
An expert in the Iraqi Central Bank expected that positive effects, in the long perspective, will result from the monetary policy of the Bank in fighting inflation through raising the exchange rate of the Iraqi dinar. The Director-General of the Statistics and Research Center in the Iraqi Central Bank, Madhar Muhammad Salih, said that the Bank seeks within its reforms to establish a modern and developed infrastructure for the central banking in Iraq through strengthening the payment systems that link the Central Bank to the banks working with automatic systems. He pointed out that this mechanism will enable the Central Bank to lend banks daily, when they are exposed to some of problems in the availability of liquidity, as well as reducing the risk of manipulation and fraud since this mechanism contains a high level of secrecy and confidentiality.

Salih revealed that there are procedures related to the development of bonds’ auction and remittances of the Central Bank, as well as encouraging open market operations; stressing its deep impact on liquidity ratios and growth of cash blocs. He explained that the sales rates in an auction increased from 200 billion dinars, after being 100 billion dinars each auction previously.

Salih called on following a coordinated financial policy with the Central Bank monetary policy to reach an economic stability based on the promotion of investment expenditure and reduce consumer spending in a way that helps in operating unemployed energies in economy, whether materialistic or human, as well as fighting against poverty and achieve the welfare of the poor within the social protection systems, stressing the need to focus the consumer expenditure upon these sectors, which requires reconsidering the support activities that must be given to the production sector as a priority, but not at the expense of the health, service and educational sectors.

http://www.iraqdirectory.com/DisplayNews.aspx?id=3260

Iraq's government has fulfilled all requirements and procedures to apply for the membership of the World Trade Organization (WTO), a USAID official in Baghdad said on Saturday, according to independent news agency Voices of Iraq (VOI).

Noozz.com | IRAQ

Major weapons cache seized in Iraq


By LAUREN FRAYER Associated Press Writer
© 2007 The Associated Press

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BAQOUBA, Iraq — U.S. and Iraqi forces have seized a large weapons cache that includes parts for sophisticated roadside bombs that are believed to originate in Iran, U.S. military investigators said.

Details of the find were expected to be announced Monday at a news conference in Baghdad.

But military officials told The Associated Press that the arsenal is one of the biggest found north of the Iraqi capital and contains components for so-called EFPs — explosively formed projectiles that fire a slug of molten metal that can penetrate armored vehicles.

The U.S. military has said elite Iranian corps are funneling EFPs to Shiite militias in Iraq for use against American troops. The area where the cache was found is dominated by Sunni insurgents but also includes pockets of Shiites.

Earlier this month, U.S. officials showed reporters in Baghdad pieces of EFPs they said were directly traceable to Iran.

An informant tipped off Iraqi police to the weapons stash Saturday, the military said in a statement to the AP. It was discovered near Baqouba, the provincial capital of Diyala province, about 35 miles northeast of Baghdad.

Along with the EFPs, the weapons cache contained more than two dozen mortars and 15 rockets. There were enough metal disks to make 130 EFPs, the military said.

The origin of the weapons seized Saturday was being investigated, said Lt. Col. Michael Donnelly, spokesman for Multinational Division-North.

"This local tip led to what is the most potentially lethal IED cache seized in northern Iraq in the past eight months," Donnelly said.

Last week, U.S. troops found a suspected Shiite weapons hideout in the southern city of Hilla that also included parts to make the lethal roadside bombs. The New York Times reported that the stash included a bomb-rigged fake boulder made of polyurethane that was apparently ready to be placed for an attack.

A statement from the U.S. military Monday said that 63 weapons caches have been discovered during major U.S.-Iraqi security sweeps around Baghdad that began Feb. 14. The arsenals included anti-aircraft weapons, armor-piercing bullets, bomb components and mortar rounds, the statement said.

So which shell do we look under today?

Business Day - News Worth Knowing
Doubt on whether Kurds endorse Iraqi oil law


Description of Selected News
Kurdish officials to back Iraq oil law

Zebari : Meeting of the neighboring countries of Iraq on March 19 in Baghdad
(Voice of Iraq) - 26-02-2007
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Newspaper (Akadh) Saudi Arabia : The Foreign Minister Hoshyar Zebari to the meeting of a Iraqi in the vicinity of its tenth session to be held in Alta Ass tenth of the month of March before the next Arab Summit e in Riyadh saying> that the Foreign Ministry sent Aldi'wa coordinates for the six neighboring countries in addition to Egypt and Bahrain and the League Arab States and the Organization of the Islamic Conference participant e in the conference, which will be held in the Iraqi capital Baghdad d, and Zebari that benefit from the results of this meeting P j move the situation inside Iraq is a positive m they will be particularly appropriate that it comes before the cascade. Arab-à-vis which will be held in Riyadh on 28 of the same month where would be an appropriate opportunity for the transfer of internal developments a externally and of the foreign ministers of the neighboring countries and Stena Ks results at the negotiating table, the Arab leaders gathered in the Riyad.

And whether there were any difficulties or obstacles to p Zebari said the meeting was that efforts were being made to cast M. n Iraq to provide the appropriate atmosphere for this Alajt flashing come to a positive outcome, adding that the length of the Alaj Tma initially will be for one day was added We have the invitation of the foreign ministers of the neighboring countries and we hope to receive m and broad everyone to attend this meeting, which would give the Iraq, a strong push towards security and stability, Nah Z and contribute positively to the stability and growth of a family for international.
And whether the nine previous meetings had achieved positive results for the benefit of Iraq, said Zebari certainly Such meetings have a positive outcome Onah n keen on the contribution of all the neighboring countries in achieving security and reconciliation and stability, as well as fortify its borders to prevent Ts t criminals and terrorists into Iraq.

Leaders negotiate with the Mahdi Army. The target death squads

(Voice of Iraq) - 26-02-2007
This issue was sent to a friend

Multi-National Force in Iraq : leaders negotiate with the Mahdi Army. The target death squads

Its spokesman told <Middle East> : that plan <impose law> will not be completed until next May

London : Meena Aribi
The spokesman for the multinational forces in the Ar Requests General William Wheel, The multinational forces holding talks with the manageability coming from the Mahdi Army's current leader Sadri Mqtd j-Sadr b <blessing of the Iraqi government>. He added in an interview with the Wheel <Middle East> yesterday. The talks not only to leaders of the Mahdi Army, but several Iraqi armed groups within the political side M. n Baghdad, the new security plan. He pointed out that the Cold multinational forces measure m armed groups in Iraq to two, <Section can Msalehth Section, could not Msalehth>, pointing out that the second group <Al-Qaida The Shiite extremists who lead death squads, Otherwise can dialogue with several bodies in the hope that the intervention of a the political process>. He added that the Wheel of Muqtada al-Sadr : <not only in Iraq and there was no long, in Iran, which is currently>. Regarding reports about the dialogue between the multinational forces leaders of the Mahdi Army, said WHEEL : <blessing of the Iraqi government, the multinational forces continued talks with the militias, including the Mahdi Army, but the Mahdi army is divided, for example, may we speak with a group in Baghdad, but another group in the eyesight act completely different>. He added : <we need political part in the security plan that Baghdad CuInSe Orr all parties. But there are not reconciled, It Qaeda and the Shiite extremists who lead teams death, Usually, these take personal attitudes rather than representation Maj certain illegible]>. He pointed out that the multinational forces and the forces pw retired launched <intensive process against death squads have been detained Na 700 component continued to date>. The Cold elements that Baghdad implement the security plan Capricorn this, known as Plan <impose law>, is not yet complete, It did not reach all the additional American forces to Ara s till May next (May), saying : <plan is still in the beginning have not been established in all parts m if it will not be completed until May, when all the forces come only extensive to Baghdad>. He added there are still Iraqi forces additional dedicated to conceal Et plan has been deployed in Baghdad after, explaining : during the two weeks will be the deployment of Iraqi forces in a the one that will arrive up to 50 thousand members in Baghdad. However, He Wheel to the relative success of the security plan pain currently has focused on dealing with death squads and assassinations. He explained : during the last two weeks. we have witnessed the decline of killings and assassinations by 46 in Alma % in Baghdad. But increased car bomb explosions, This is a rule to impose its presence in Iraq. He added that the Iraqi forces and the multinational force will prevail told to face the new wave of bombings. especially through <stations Joint Security> forces, by hitting 14 station in Baghdad and expected to be seen protect her to between 30 and 40 stations in the coming weeks. He continued : the existence of these stations means that the American forces do not invite d to the huge camps, they will remain with the Iraqi forces to protect civilians and Mra Dome of everything that is happening in the neighborhoods. And the arrest Ammar Hakim. the son of the leader of the Supreme Council for Islamic Revolution in Ar Requests Abdel-Aziz al-Hakim, for several hours last Friday, he said : Cold <incident was regrettable, but it was a result of a guards for the Iraqi border, with the support of the multinational force, work, and to make sure that these were not smugglers or subjecting the Iraqi civilians at risk>. He added : <persons in the convoy vehicles were Adaeiin and dead - Aaounin, which escalated the confrontation between the two parties>.

Originally Posted by PAn8tv

So which shell do we look under today?

Business Day - News Worth Knowing
Doubt on whether Kurds endorse Iraqi oil law


Description of Selected News
Kurdish officials to back Iraq oil law

More about this,

Kurdish deal raises hopes for Iraq oil laws
26 February 2007 (Financial Times)
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Kurdish regional officials said yesterday they had reached agreement on a draft of a law governing the oil industry, potentially ending a dispute that has for months held up the adoption of legislation deemed vital to Iraq's reconstruction.

Agreement had been reached on both the draft law and an accompanying memorandum, .[/size][/b]said Fuad Hussein, chief of staff for Massoud Barzani, president of the Kurdistan Regional Government, which is responsible for administering northern Iraq.

Assem Jihad, a spokesman for Baghdad's oil ministry, however, said that the draft would need to be reviewed by the Iraqi cabinet and then by parliament, leaving the door open for changes as well as disputes.

The progress of the oil law has seen a number of false dawns. Last month, Baghdad said a draft was ready to be presented to parliament, but the KRG responded that this was "premature".

Kurdish officials have said some issues are still unresolved, which may be a reference to annexes to the law that are not yet drafted.

However, even a preliminary agreement between the KRG and the Ministry of Oil would be a significant step towards clearing a logjam that had blocked passage of the law since last summer.

Both sides are under pressure from the US to reach an agreement.

The Kurdish announcement followed a meeting between Zalmay Khalilzad, US ambassador, Mr Barzani, and Jalal Talabani, Iraq's president and a Kurd.

Details of the final agreement were not available, although both Kurdish and federal government officials said they would shortly release comments on it.

In recent months, much of the argument has centred on the right of regional governments such as the KRG to sign contracts independently with oil companies.

Baghdad had proposed such contracts be reviewed by a committee, but the KRG has insisted it will not give the federal government veto power over the development of its local oil industry.

The Kurdistan government also reportedly wants guarantees that deals that it signed with foreign oil companies such as Norway's DNO to drill in KRG-administered territory would be honoured by Baghdad.

Outside Iraq, some watchdog groups have criticised clauses in the law that allow production-sharing agreements, which allow drilling companies to own a proportion of the oil they produce.

The Iraqi government says it should have access to as wide a range of contracts as possible to encourage the discovery of new oil resources in areas that are difficult or costly to explore.

However, once the law is referred to parliament, such contracts may encounter resistance from lawmakers who argue that they give too much away to foreigners.

Iraqi Kurdistan claimed in 2005 to have 45bn barrels in oil reserves. The country as a whole has 115bn barrels in proven reserves as of 2003, although government and independent estimates run to well over 200bn barrels.

*President Talabani, 73, flew to Jordan yesterday for a medical check-up at King Hussein Medical City, a military hospital in Amman. His office said he was suffering from exhaustion and there was "no cause for worry".

Kurdish deal raises hopes for Iraq oil laws | Iraq Updates

Originally Posted by Raditz

More about this,

Kurdish deal raises hopes for Iraq oil laws
26 February 2007 (Financial Times)
Print article Send to friend
Kurdish regional officials said yesterday they had reached agreement on a draft of a law governing the oil industry, potentially ending a dispute that has for months held up the adoption of legislation deemed vital to Iraq's reconstruction.

Agreement had been reached on both the draft law and an accompanying memorandum, .[/size][/b]said Fuad Hussein, chief of staff for Massoud Barzani, president of the Kurdistan Regional Government, which is responsible for administering northern Iraq.

Assem Jihad, a spokesman for Baghdad's oil ministry, however, said that the draft would need to be reviewed by the Iraqi cabinet and then by parliament, leaving the door open for changes as well as disputes.

The progress of the oil law has seen a number of false dawns. Last month, Baghdad said a draft was ready to be presented to parliament, but the KRG responded that this was "premature".

Kurdish officials have said some issues are still unresolved, which may be a reference to annexes to the law that are not yet drafted.

However, even a preliminary agreement between the KRG and the Ministry of Oil would be a significant step towards clearing a logjam that had blocked passage of the law since last summer.

Both sides are under pressure from the US to reach an agreement.

The Kurdish announcement followed a meeting between Zalmay Khalilzad, US ambassador, Mr Barzani, and Jalal Talabani, Iraq's president and a Kurd.

Details of the final agreement were not available, although both Kurdish and federal government officials said they would shortly release comments on it.

In recent months, much of the argument has centred on the right of regional governments such as the KRG to sign contracts independently with oil companies.

Baghdad had proposed such contracts be reviewed by a committee, but the KRG has insisted it will not give the federal government veto power over the development of its local oil industry.

The Kurdistan government also reportedly wants guarantees that deals that it signed with foreign oil companies such as Norway's DNO to drill in KRG-administered territory would be honoured by Baghdad.

Outside Iraq, some watchdog groups have criticised clauses in the law that allow production-sharing agreements, which allow drilling companies to own a proportion of the oil they produce.

The Iraqi government says it should have access to as wide a range of contracts as possible to encourage the discovery of new oil resources in areas that are difficult or costly to explore.

However, once the law is referred to parliament, such contracts may encounter resistance from lawmakers who argue that they give too much away to foreigners.

Iraqi Kurdistan claimed in 2005 to have 45bn barrels in oil reserves. The country as a whole has 115bn barrels in proven reserves as of 2003, although government and independent estimates run to well over 200bn barrels.

*President Talabani, 73, flew to Jordan yesterday for a medical check-up at King Hussein Medical City, a military hospital in Amman. His office said he was suffering from exhaustion and there was "no cause for worry".

Kurdish deal raises hopes for Iraq oil laws | Iraq Updates

This is how its going to work in my opinion..... You hear about talabani having a heart attack or what ever from the stress... The US doesnt care, no one cares. IF they didnt take so many vacations then they wouldnt have so much work. The bottom line is, THEY NEED TO FINISH THESE LAWS and the us will push them even if they do have heart attacks, strokes or any other medical condition.....

Which Kirkuk?
Published: 2/26/2007
BY FERAI TINC

Why is the Democratic Society Party (DTP), which has so far preferred to hold its tongue on the Kirkuk issue, now saying that intervention in Kirkuk would disturb the Kurds living in Turkey and that they would consider an attack on Kirkuk an attack on Diyarbakir? Is it a coincidence that these remarks came at a time when people are talking about the possibility of Turkish officials meeting with Iraqi Kurds? In addition, can we also ask if it’s a coincidence, considering that southeastern Anatolia would be the primary beneficiary of these meetings and all kinds of cooperation in every area? Indeed, is this a coincidence or the concerns of those who benefit from this atmosphere of conflict?

Iraqi Arabs I met at an international meeting said that Turkey ’s remarks on the Kirkuk issue are strengthening our hand for bargaining. I told them that hoping for help from Turkey will bring them nothing. The Iraqi people can never reach a consensus by relying on foreign threats, because it can’t be permanent. Today, Iraq is under occupation and in such a country, no social consensus, which is the foundation of a state, can be forged. Each step which aims to prepare Kirkuk’s fate will be temporary, as long as today’s conditions remain unchanged.

Anyhow, what’s important for Turkey is to reach this consensus. If a consensus pleasing everybody can’t be reached on Kirkuk , this will worsen the region’s safety problems. As the lack of stability in Kirkuk and its turning into a field of conflict would create a new focal point for international terrorism, this very much concerns Turkey ’s safety. However, how to allocate the oil wouldn’t concern Turkey , but the Iraqi people. Besides, it’s completely dishonest to try to score political points through Kirkuk . Those who argue Turkey should intervene in Iraq over Kirkuk are trying to score points through Turkish nationalism, and those who threaten that this would galvanize the Kurds living in Turkey are trying to cozy up to certain circles by fomenting Kurdish nationalism. This cozying up and messages not to launch operations against the terrorist PKK in Kandil, northern Iraq etc. are the tactics of certain politicians who only promise to give pain to the people. I consider the recent remarks of the DTP provincial leader in Diyarbakir part of this.

Some say intervention in Kirkuk will disturb the Kurds living in Turkey . Which intervention are they talking about? Are they talking about an intervention in Iraq , which is under occupation? Not only the US , but also all of its neighbors are already intervening in Iraq . Can one say that northern Iraq isn’t under occupation now? Or how it would be realistic to say that Baghdad is under more occupation and Basra under less? Occupation is occupation.

Look, Iraqi President Jalal Talabani and Iraqi Kurdish leader Massoud Barzani discussed the oil matter two days ago. Were they alone? Of course not. After the meeting, when Barzani said that they had reached a consensus, Iraqi Prime Minister Nouri al-Maliki wasn’t there, but the US Amabassador to Iraq Zalmay Halilzad was.



I LIKE THE GREEN PART - THE GUY IS RIGHT, ISN'T HE? U.S. OBVIOUSLY PUSHING...WE HAVE THE US Ambassador working for us now...LOL

Here are the current poll results from Nozz.com: Do you think that Bush's new Iraq plan, with both a reconstruction and troop surge, will regain the political momentum for the Iraqi government and disarm the militias?

Yes 117 68%

Unsure 15 9%

No 39 23%

I thought that I would post it here for RC members - to see how others feel about what happens in Iraq these days....