Thread: Iraq/Dinar News up until March 18th Midnight ctz

(MENAFN) The Deputy Managing Director at the International Monetary Fund (IMF) stated that the IMF has extended its $714.7 million loan agreement with Iraq until September because the country has confronted a significant economic recovery despite increased security instability, Iraq Directory reported.

Iraq has taken important measures to keep the economy stable and sustain its economic program such as maintaining fiscal discipline, tightening monetary policy and raising domestic fuel prices although there should be an expansion on the new reforms in the financial management, he explained.

Moreover, Iraq has regarded the loan as a precautionary finance and it didn't draw down on it since its approval in December 2005. However, due to the high inflation rates, the central bank might adopt serious measures to prevent the rates from becoming rooted, he said. He added that the Iraqi government must also implement several measures such as increasing oil investment and reducing supply constraints on fuel products.

WHAT DOES THAT PART MEAN?

MENAFN - Middle East North Africa . Financial Network News: IMF, Iraq agree to extend $715m loan accord to September

The spokesman said the security plan for Baghdad today, Sunday, that the Iraqi forces had arrested two members of the al-Qaida leaders, one of them described as a Palestinian nationality.

He said Brigadier General Qasim Atta at a press conference in Baghdad that "Iraqi forces managed to arrest two of the" leaders (bloody and criminal), one offender Medhat Mahmoud Hussein Hayali (arrested) in the Abu Ghraib area, which is called the Mufti of Al-Qaeda. " He added that Atta "Hayali Mufti is the Taji area (located) north-east of Baghdad and Minh Musharraf to teach some research for this religious organization (terrorist)."
He pointed out that Atta Hayali "admitted to committing many crimes against the citizens and the security services and we will announce them later."
Atta said that "the second person who was arrested is full Mahmoud Hamad last Babu alias Abu Palestinian and he was arrested on the afternoon yesterday, Saturday, a prominent leader in the so-called Al Qaeda (terrorist)."
He added that Atta "had in his possession last important documents and CDs especially with the organization (the offender)" and said "during the investigation, he admitted to committing many crimes against the Iraqi people and the Iraqi armed forces was filmed Confessions task of this today, Sunday, during the investigation conducted with him, which still continues."

Atta said that "the last was born in 1983 born in Iraq and the Palestinians have inhabited Ramadi." Atta and promised to announce further details about the future and at the completion of the investigation. He described Atta information given by the past as a "very important information."

Version traduite de la page http://www.aswataliraq.info/?newlang=ara

TO RESUME A LITTLE :

Fixed exchange rate - MARCH 19 - WE'LL SEE WHAT THIS ONE IS ABOUT

WE HAVE A FEW OTHER DATES HERE THAT WOULD IMPLY THAT THE LAWS SHOULD BE IN PLACE BY THEN , PLUS THE ICI SIGNING BY THE END OF APRIL ( APRIL 30)


CBI adopts fixed ID exchange rate
Baghdad (NINA)- The Central Bank of Iraq CBI has announced adopting the exchange rate of Iraqi Dinar against the US Dollar, settled on last Thursday’s auction until March 19. A CBI statement said Saturday that the measure came within the previously adopted measures, aiming at boosting Iraqi Dinar
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Iraq to hold International Trade Fair in Turkey
MENAFN - 18/03/2007
MENAFN - Middle East North Africa . Financial Network News: Iraq to hold International Trade Fair in Turkey

*FIL NEEDS TO BE IMPLEMENTED BY THEN
(MENAFN) A spokesman of the Iraqi Trade Ministry announced that the ministry will hold its second international trade exhibition in Turkey from May 23rd to 27th to enhance economical relations between Iraq and the participating countries, Iraq Directory reported.

The fair will include Business Partner Iraq Conference that will address several business issues related to energy, health, agriculture and industry. In addition, there will be many workshops and business agreements between Iraqi business leaders attending the fair and the foreign companies taking part in the exhibition, he said.

The Turkish Union of Chambers and Commodity Exchanges (TOBB) and Gazianten Chamber of Industry will sponsor the fair while 1500 companies from around 40 countries from Europe and the Middle East will join, he pointed out.

It's worth noting that this fair marks the first official Iraqi exhibition outside Iraqi territories.
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Crucial Iraq economic summit to be held in Amman from May 28
Bahrain Tribune - 18/03/2007
MENAFN - Middle East North Africa . Financial Network News: Crucial Iraq economic summit to be held in Amman from May 28

** NEEDS HCL IMPLEMENTED BY THEN
(MENAFN - Bahrain Tribune) Following in-depth consultation with the Unity Government of Iraq, the Iraq Oil, Gas, Petrochemical & Electricity Summit will now be taking place in Amman, Jordan, from May 28 to 30.

The summit will welcome representation from the Iraqi Ministries of Oil, Industry & Minerals and Electricity, as well as the Iraq Energy Council, Investment Promotion Agency and the Kurdistan Regional Government (KRG) Ministry for Natural Resources. It will also host many of the state companies operating under the Iraqi Ministry of Oil and senior representatives from the Iraq Reconstruction Management Office (IRMO).

For the most important sectors of the Iraqi economy, this historic landmark event will be the first of its kind since the formation of Iraq's Unity Government, with these key decision makers participating with the full intent of establishing relationships and entering into contractual negotiations with all international operators wishing to be part of both the upstream and downstream sectors.

Iraq has the world's second largest proven oil reserves and the Government is now finalising its new hydrocarbon laws, following the declaration of the investment laws for the extractive industries. The timing of this summit could not be better.

The key decision makers from Iraq will take part with the full intent of establishing relationships and entering into contractual negotiations with all international operators wishing to be part of both the upstream and downstream sectors.

Originally Posted by rvalreadydang

(MENAFN) The Deputy Managing Director at the International Monetary Fund (IMF) stated that the IMF has extended its $714.7 million loan agreement with Iraq until September because the country has confronted a significant economic recovery despite increased security instability, Iraq Directory reported.

Iraq has taken important measures to keep the economy stable and sustain its economic program such as maintaining fiscal discipline, tightening monetary policy and raising domestic fuel prices although there should be an expansion on the new reforms in the financial management, he explained.

Moreover, Iraq has regarded the loan as a precautionary finance and it didn't draw down on it since its approval in December 2005. However, due to the high inflation rates, the central bank might adopt serious measures to prevent the rates from becoming rooted, he said. He added that the Iraqi government must also implement several measures such as increasing oil investment and reducing supply constraints on fuel products.

WHAT DOES THAT PART MEAN?

MENAFN - Middle East North Africa . Financial Network News: IMF, Iraq agree to extend $715m loan accord to September

It means that they have not been serious until now and they need to get serious by taking some "serious measures". LOL Like REVAL.

Originally Posted by Offshore-Wealth.com

Interesting,

Amazing how they always manage to show up for pension and pay raise issues. lol

Good luck to all, Mike

YEP, and after that they take a 10 days vacation. The discussion exhausted them!!

Quote:
First : the political consensus insists on changing Defense Minister


Skinner denies coverage of the security ministries amendment near
اBaghdad-haven Secretary امنيةAlthough Dr. Skinner on the official spokesman for Prime Minister coverage of the security ministries amendment government expected the Iraqi Accord Front to reject any cabinet reshuffle, excluding the Ministry of Defense. Skinner said in a statement addressed by the (morning) : The cabinet reshuffle in the advanced stages of being denied at the same time that the security ministries

.. For its part, the Iraqi Accord Front insisted on changing Defense Minister Abdel Kader Al-Obaidi, in the case of Prime Minister Nuri al-Maliki reshuffled his cabinet. A member of the Chamber of Deputies of the Iraqi Accord Front, Dr. Abdul Karim al-Samarra'i told (morning) : yesterday, Saturday, "that they did not accept any cabinet reshuffle Maliki unless it included the Minister of Defense. The Samurai to change the Defense Minister is important for the fact that the Accord Front Obeidi representative compatibility right front replaced . In different direction undervalued MP Hussein Alvluji front of the consensus of the importance of the replacement Obeidi said : "The political and security conditions are complex and difficult may prevent the government from the replacement of Defense Minister at the present time, pointing to the plan to impose law currently being implemented by Pant indicators of success and the active role of the Ministry of Defense in the implementation of its terms . Alvluji He said : "The changes in the leadership of the security plan had confused the implementation of the plan and whether the al-Ubaydi, EU committed to the law and the observance of human rights there is no need to be replaced, he said, personal opinion, and that binding to the front to which he belongs.

Doesn't look like he will get any of his changes done unless he gets a new Ministry of Defense. Just another issue that Maliki is unable to handle.

Originally Posted by Raditz

so what does this mean?
Does it mean that they will raise the value on the dinar this upcoming auction or what? First time i see they have pre-posted what will happen in the upcoming auction!

Any take?

Originally Posted by Jola

It means that they have not been serious until now and they need to get serious by taking some "serious measures". LOL Like REVAL.

Well dag blast it, get it done already, LOL

Did some research here:

A fixed exchange rate, sometimes (less commonly) called a pegged exchange rate, is a type of exchange rate regime wherein a currency's value is matched to the value of another single currency or to a basket of other currencies, or to another measure of value, such as gold. As the reference value rises and falls, so does the currency pegged to it. A currency that uses a fixed exchange rate is known as a fixed currency. The opposite of a fixed exchange rate is a floating exchange rate.

Revaluation means a rise of a price of goods or products. This term is specially used as revaluation of a currency, where it means a rise of currency to the relation with a foreign currency in a fixed exchange rate. In floating exchange rate correct term would be appreciation. The antonyme of revaluation is devaluation.

Originally Posted by Jola

Did some research here:

A fixed exchange rate, sometimes (less commonly) called a pegged exchange rate, is a type of exchange rate regime wherein a currency's value is matched to the value of another single currency or to a basket of other currencies, or to another measure of value, such as gold. As the reference value rises and falls, so does the currency pegged to it. A currency that uses a fixed exchange rate is known as a fixed currency. The opposite of a fixed exchange rate is a floating exchange rate.

Revaluation means a rise of a price of goods or products. This term is specially used as revaluation of a currency, where it means a rise of currency to the relation with a foreign currency in a fixed exchange rate. In floating exchange rate correct term would be appreciation. The antonyme of revaluation is devaluation.

So from the articles above, they will fix the rate of the dinar after the 19th of march? that means on tuesdays auction we will see a fixed rate, a rate that will reduce the inflation and raising the value of it? hmmm and what will that be?