Printable View
You can send the funds my way (once the reval happens at 1:1 or better). My acount is under the name of ___________ and # is _____________. I'd like to thank you in advance for your prompt response. (Yeah,:biggrin: right.)Quote:
Originally Posted by mewannapeg
Venezuela plays numbers game with its currency
Chávez bid to curb Venezuelan inflation baffles economists
CARACAS, VENEZUELA — Of all the startling measures announced by President Hugo Chavez this year, from the nationalization of major utilities to threats of imprisonment for violators of price controls, none has baffled economists quite like his venture into monetary reform.
First, Chavez said the authorities would remove three zeroes from the denomination of the currency, the bolivar. Then he said the new bolivar, worth 1,000 old bolivars, would be renamed the bolivar fuerte, or strong bolivar.
Finally, at the behest of Chavez, the central bank said last week that it would reintroduce a 12 1/2 -cent coin, a symbol of Venezuela's prosperity in the 1960s and 1970s before freewheeling oil booms ended in abrupt devaluations, after three decades out of circulation.
Chavez champions these ideas, which will take effect in January, as ways to combat inflation, which in recent weeks crept up to 20 percent, the highest in Latin America.
Gastón Parra, the president of the central bank, went on television last week to emphasize that the effect of these measures on the value of Venezuela's currency would be neutral, neither increasing or decreasing salaries, debts, nor the price of consumer goods.
Private economists, however, say that the changes, combined with inflation, could heighten confusion over prices. Those economists say that the inflation is a result of a surge in public spending by Chávez and increasingly jittery efforts by the wealthy to circumvent tightening controls on prices and foreign exchange.
We're witnessing policy in the form of window dressing, all carried out at the whim of one man whose strong point is not economics," said Hugo Faría, an economist at the Institute of Higher Management Studies, a private business school here. "Anyone who sees a twelve and a half-cent coin as a remedy for this country's problems isn't thinking too clearly."
Inflation has been climbing rapidly since January when a sharp decline in the black-market value of the bolívar pushed up prices of imported goods.
Since Chávez moved to nationalize major telephone and electricity companies in January, Venezuelans have rushed to take money out of the country, currency traders say. That exodus has caused the bolívar to weaken by about 20 percent to a level of 4,000 to the dollar on the black market, placing it among the world's worst performing currencies this year.
The decisions to rename the currency and reintroduce the unusual coin, known here as the locha, a term thought to derive from an anachronistic practice of dividing monetary units into eighths, have dumbfounded many Venezuelans. More than a third of the country's population of 26 million is under age 18, with no memory of the coin, which stopped circulating in the 1970s.
"I think that it's cheap psychology," said Jhonny Márquez, a manager at a transportation company. "I don't believe the inflation will go down."
Still, Chávez, 52, waxes nostalgic about the coin. Citing "the respect Venezuela's economy has around the world" in a transmission of his television talk show this month in which he announced the coin's return, Chávez said, "We're going to end monetary instability in Venezuela."
Other countries have renamed their currencies in an effort to increase confidence in their economies, but economists say such moves need to be accompanied by strong fundamentals and transparent rules for investment.
Venezuela plays numbers game with its currency - International Herald Tribune
Venezuelan currency gets new name, number | Chron.com - Houston Chronicle
Now that sounds like a good thougth. At least I have only 1-more day to wait. :woohoo: I AM OPTIMIST TOO. :woohoo: and PATIENTLY:waiting:Quote:
Originally Posted by Hardwood
:party: :banana: :wigged: :banana: :party:
Are they saying there will be no more auctions this week, or that the buy/sell rates will remain the same while they continue with them?:help:Quote:
Originally Posted by Adster
they did the same the last time to update software as well as some of their holidays, so it means there will be no auction for that time period. hopefuly they open it back up with a Reval.Quote:
Originally Posted by Zimi31
Quote:
Originally Posted by Zimi31
I'm sure there will be auctions this week - and at the current rate i'm afraid.
Now, if we're wrong and there are no new auctions this week... well, i'm looking forward to something happening on the 26th then... :wink:
Lets hope so!!The 26th would be nice!!
Sarah!!GO DINAR GO !!!
More Than 40 Countries To Join Iraq International Fair
Turkish Press - [17/03/2007]
Around 1500 companies from more than 30 countries will attend the 2nd Iraq International Fair, planned to take place in southeastern city of Gaziantep between May 23rd-27th, 2007 in association with the Iraq Trade Ministry and fair organization company Forum.
Turkish Foreign Trade Undersecretariat, Turkish Union of Chambers & Commodity Exchanges (TOBB), Gaziantep Chamber of Industry, and local organizations support the fair, which is the only fair of its kind held by Iraq government in a foreign country.
More than 3,000 Iraqi businessmen are expected to travel to Turkey to visit the fair.
Business Forum "Business Partner Iraq" on areas of energy, health, agriculture, industry, infrastructure as well as bilateral business talks and work shops will be held throughout the fair.
The fair aims at boosting commercial ties with Iraq, assuming the most important role in restoration of Iraq and increasing Iraq's purchases from Turkey.
Companies from Switzerland, Japan, Czech Republic, the Netherlands, Korea, Bahrain, China, Syria, France, Brazil, Russia, Iran, Egypt, Italy, Jordan, Hungary, USA, Thailand as well as Turkey are expected to join the fair.
Quote:
Originally Posted by cigarman
Someone else ........
Iraqi delegation prepares for opening of formal World Trade Organization accession talks
19 March 2007 (USAID)
Print article Send to friend
Seventeen members of Iraq's National Committee and World Trade Organization (WTO) Unit, which coordinate the country's WTO accession effort at the inter-ministerial level, prepared for the opening of the WTO accession negotiations and the convening of the first WTO Working Party (WP) meeting in Geneva in a four-day workshop organized by the U.S. Agency for International Development's (USAID) Izdihar program.
Two WTO experts were brought in to assist in the training activity, which culminated in a full-scale simulation of the WP meeting. Workshop participants included the core negotiating team which will travel to Geneva to conduct the meeting.
The workshop began with a detailed walk-through of the WP process, covering such issues as the protocol to be followed, opening statements, advice on the composition of Iraq's delegation, appointing Iraq's spokesman for the WP meeting, procedures, timelines and tactics. The discussion moved on to the substance and issues likely to be raised in the first meeting.
These preparations led to the central event of the workshop – a full-scale, mock WP meeting, designed to approximate as closely as possible the procedures, content and duration of a real meeting. The simulation included a chairman conducting the WP proceedings, and each Izdihar adviser taking on the role of key WTO members, including the United States and the European Union.
Questions and comments for the Iraqi delegation had been prepared in advance covering all aspects of Iraq's trade and legal regime, such as intellectual property, customs, agriculture, technical barriers to trade, privatization and constitutional make-up. The delegation was subjected to six hours of intensive questioning. The workshop ended with an interactive evaluation of the mock WP session. Strengths, weaknesses and tactics were discussed, drawing upon the experiences from the session.
While certain weaknesses were identified, there was broad agreement that the Iraqi delegation will be able to successfully conduct the first WP meeting. Dr. Tamam Al-Ghul, former Jordanian Minister for social development, who previously led Jordan's WTO accession efforts for five years, stated that she was truly impressed at the performance of the Iraqi delegation. Paolo Vergano, a Senior WTO Lawyer from Brussels who has assisted in numerous WTO accessions, noted that in his view the Iraqi team performed better than other WTO accession delegations at a comparable stage.
Please note that the views expressed in this article may not reflect the views of PortAl Iraq and its staff.
Reproduction or redistribution of the above text, in in any form, requires the prior consent of the original source.
Iraqi delegation prepares for opening of formal World Trade Organization accession talks | Iraq Updates
'FRAMEWORK FOR NORMALIZATION’ NEEDED MORE THAN EVER, SECRETARY-GENERAL SAYS AT MILESTONE PRESENTATION OF INTERNATIONAL COMPACT FOR IRAQ
As the International Compact with Iraq was formally presented to the international community at a Headquarters meeting this morning, United Nations Secretary-General Ban Ki-moon told the gathering of Member States, regional and multilateral organizations that Iraq needed the “framework for normalization” more than ever.
(PressZoom) - As the International Compact with Iraq was formally presented to the international community at a Headquarters meeting this morning, United Nations Secretary-General Ban Ki-moon told the gathering of Member States, regional and multilateral organizations that Iraq needed the “framework for normalization” more than ever.
The Secretary-General said the initiative should be seen as a “national compact” among Iraqis, where agreement would be reached on the necessary security and political steps towards normalization and revitalizing the national economy. Meanwhile, it should function as an “international compact” between Iraq and its partners, allowing the international community to channel support according to priorities decided by Iraqis themselves.
Describing as “heart-wrenching” the almost daily attacks on innocent Iraqi civilians that had left immense suffering and pain in their wake, he said that, beyond the political violence and sectarian strife, a humanitarian crisis was stretching the patience and ability of ordinary people to cope with everyday life. The United Nations was strengthening its humanitarian efforts and working with Iraq’s neighbours and other countries in the region to address the increasing needs of those who had left the country temporarily, those displaced internally and those suffering from diminishing access to basic public services.
The International Compact with Iraq is an initiative of that country’s Government for a new partnership with the international community. Jointly chaired by the Government of Iraq and the United Nations, it started in July 2006, with the support of the World Bank, and is focused on Iraq’s long-term economic development, while stressing progress in the political and security fields, through a mutually re-enforcing relationship. Today’s meeting follows the Compact Preparatory Group meetings in the United Arab Emirates and Kuwait last September and October, respectively and the two events in New York last September and November. The Compact seeks to consolidate peace in war-torn Iraq and to pursue the country’s long-term political, economic and social development over the next five years.
Iraq’s Vice-President Adil Abdal Mahdi formally introduced the International Compact document, outlining its major principles: improving the investment climate; tackling political, security and economic problems simultaneously; normalizing Iraq’s relations in the region and internationally; setting up a democratic State with a federal Government on the Iraqi people’s own terms; working with the international community to alleviate the country’s debt burden and set up a reconstruction mechanism; and resolving social problems through a national reconciliation process and by distributing national resources in a just manner.
Ibrahim Gambari, the newly-appointed Special Adviser on the International Compact with Iraq and Other Political Issues, and the Compact’s United Nations Co-Chair, said that the time had come to empower the Government of Iraq, and the country’s constitutional review process was important for the strengthening of democracy and the rule of law. Immediate steps were also needed to tackle security issues while respecting human rights, and it was important to address the situation of refugees and internally displaced persons, among other objectives. Mr. Gambari also said that the target date for the initiative’s formal launch at a high-level event would be near the end of April at a venue to be announced.
Ashraf Jehangir Qazi, Special Representative of the Secretary-General for Iraq, stressed the particular importance of linking the Compact with current and future domestic, regional and international initiatives. Among other priorities was the need for funds from the United Nations High Commissioner for Refugees ( UNHCR ). The Government had begun to address the challenges facing Iraq, some of which could be carried out in the framework of the Compact, which provided for emergency response, including working with internally displaced persons. The Compact’s institutional underpinning would be strengthened by the establishment of its secretariat.
Out of the approximately 100 delegations participating in the meeting, some 30 speakers delivered statements in support of the Compact, saying it had been shaped by the serious challenges facing Iraq, and that its objectives and strategies composed an integrated plan to overcome them.
The meeting heard statements by the representatives of Saudi Arabia, Italy, Germany ( on behalf of the European Union ), Republic of Korea, Iran, United States, Japan, United Arab Emirates, France, Syria, Turkey, United Kingdom, Canada, Romania, Kuwait, Egypt, El Salvador, Spain, Denmark, Kazakhstan, Australia, Viet Nam and China.
Also speaking were representatives of the World Bank, International Monetary Fund ( IMF ), Islamic Development Bank, European Commission, Organization of the Islamic Conference, and the International Reconstruction Fund Facility for Iraq.
Statements
BAN KI-MOON, Secretary-General of the United Nations, said as he opened the meeting that today’s event offered an opportunity to bring the larger international community to consider how best to support the people of Iraq under the Compact. “We are all aware of the difficult situation in Iraq. It is heart-wrenching to see almost daily attacks on innocent civilians, which have left immense suffering and pain in their wake.” Beyond the political violence and sectarian strife, a humanitarian crisis was stretching the patience and ability of ordinary people to cope with everyday life. The United Nations was now strengthening its humanitarian efforts and working with Iraq’s neighbours and other countries in the region to address the increasing needs of those who had left Iraq temporarily, those displaced inside the country and those suffering from diminishing access to basic public services.
Given those circumstances, some might question why a Compact would be necessary or appropriate, he said, adding that he understood those concerns. However, a framework for normalization was required now more than ever. There was also a view that there was a multitude of initiatives on Iraq, which had yet to yield tangible results. While there was certainly a need to streamline and consolidate those initiatives, and to concentrate on achievable goals, the Compact focused, unlike other initiatives, on Iraq’s long-term economic development, while also stressing progress in the political and security fields through a mutually reinforcing relationship.
He said the Compact aimed to achieve its objectives in two ways, the first being a “national compact” among Iraqis, whereby they would agree upon the necessary security and political steps towards normalizing the situation and revitalizing the national economy. The second way, an “international compact” between Iraq and its partners, would set out the Government’s agenda for the next five years with regard to economic and social reform. That shared vision and mutual commitment would allow the international community to channel support in accordance with the priorities decided upon by Iraqis themselves. The Compact should be seen as a tool for unlocking Iraq’s own potential by seeking to achieve concrete results in public sector resource management, institution building and human development, in line with the Millennium Development Goals.
The Compact also emphasized a more holistic approach to energy management, he said. Towards that end, the Government’s recent efforts to adopt new oil and gas legislation were encouraging. Indeed, a viable arrangement to share the nation’s oil wealth and natural resources could also help build much needed trust and confidence among the country’s communities. Welcome progress had also been made in adopting other key legislative acts, which, however, might not achieve their full impact unless the same consensus was expressed in the Iraqi Constitution. That made a genuine and meaningful constitutional review all the more important. Above all, it was essential that all communities come together in a spirit of dialogue to find lasting solutions. As they did so, they should be able to count on the active support of Iraq’s neighbours and the international community.
Describing the Compact as an important framework for fulfilling precisely that shared responsibility towards Iraq and its people, he said the United Nations was committed to supporting its implementation. Through the Secretary-General’s good offices and those of his Special Representative in Iraq, the United Nations would make every effort to ensure that the international community remained engaged. Ibrahim Gambari had been appointed Special Adviser on the International Compact with Iraq and Other Political Issues and would succeed Mark Malloch Brown as Co-Chair of the Compact. He would be in active contact with all concerned to move the process forward.
The challenges ahead were immense, he said in conclusion, adding: “I am sure you will all agree we cannot leave Iraq on its own to cope with them.” The Compact was intended to help the Government build a secure, unified, federal and democratic nation, founded on the principles of freedom and equality, capable of providing peace and prosperity for all Iraqis. A positive political progress and a reduction in violence were essential to success. To maintain the momentum generated by today’s meeting, the Government of Iraq was encouraged to agree on the date and venue for the launch of the International Compact. “I am hopeful that, through our concerted efforts, we can help to build a country at peace with itself, with its neighbours and with the wider international community,” he said.
ADIL ABDAL MAHDI, Vice-President of Iraq, said the International Compact document had managed to capture the Government’s vision for a stable Iraq at peace with itself, and contained provisions for adopting a State based on a constitution that upheld the right to free elections and the just distribution of wealth. The document also paid heed to the importance of non-intervention in the domestic affairs of other States, he said. Indeed, since the fall of the dictatorial previous regime, Iraq had striven to build cordial relations with other countries. But while the country still suffered under the weight of international terrorism, sectarian violence, unemployment and destroyed civil infrastructure, it was fortunately blessed with fertile land, ample natural resources –- including great capacities in gas and oil -- and an educated populace, which it would do well to harness.
He said the International Compact document was founded on the following major principles: to improve the investment climate; to tackle political, security and economic problems simultaneously; to normalize Iraq’s relations in the region and internationally; to set up a democratic State, with a federal Government, on the Iraqi people’s own terms; to work with the international community to alleviate the country’s debt burden and set up a mechanism for reconstruction; and to resolve social problems through a national reconciliation process and by distributing the country’s resources in a just manner.
Iraq stood ready to implement practical solutions to security problems, which manifested in suicide bombings sometimes instigated by those from outside the country, he said. Such acts of violence undermined both the rule of law and the State, and had led to a massive displacement of people, damaged oil pipelines and electricity pylons, and destroyed universities and schools. Yet, the country had persevered, holding successful parliamentary elections, instituting a national unity Government and working towards a constitution. A campaign was under way to impose the rule of law and clear Iraq of saboteurs, with the help of the Multinational Forces in Iraq. Though that effort was still in its early stages, sectarian violence seemed to have declined. Thousands of families had been able to return to their homes in the suburbs, while the number of car bombs and suicide attacks had been reduced.
On the political track, he said, the national reconciliation process initiated by the Prime Minister continued apace, with many meetings having been held in Amman, Cairo, Damascus, the United Arab Emirates, Saudi Arabia and Baghdad. It was important to embark on a political process that had a stable political regime as its outcome, and that respected the will of Iraqis. There was a need for new political institutions based on respect for human rights, a renunciation of violence and sectarianism and a deep respect for the rule of law. The country must ensure that dictators would not return to power.
He said the milestone 10 March conference in Baghdad -- which had seen the participation of Egypt, Bahrain, International Compact members, the United Nations, the European Union and the Arab League -- had been a success, especially in setting up a security plan and developing ways to help displaced Iraqis. There had also been bilateral meetings, with neighbouring countries and those further away like the United States and the European nations, which boded well for Iraq’s positive relations with the world.
Iraq’s problematic history made the work or national rebuilding complex and difficult, requiring cooperation from all Iraqis, he said. As a result, the Government was reviewing de-Ba’athification and studying a draft budget for 2007, which would include a $10 billion allocation to investment projects. Furthermore, Iraq was committed to working with the International Monetary Fund ( IMF ) and would soon hold its third and fourth review meetings in order to extend that institution’s programme for the country by a further six months. Bilateral agreements with commercial debtors would be held to settle the question of debt and an Iraqi delegation was in Saudi Arabia to discuss that issue with Gulf State donors, in line with Paris Club principles.
Noting that the Cabinet had recently voted on an oil law aimed at achieving the just distribution of resources among all Iraqis and the country’s different regions, he said that law had been prepared by Iraqi experts and discussed by federal and local authorities. It would safeguard the oil industry. Parliament had adopted a separate investment law to help attract foreign investors, whom it would give full safeguards. Under that law, an independent investment body would be set up with many branches throughout Iraq and with clear terms of reference.
Since 2003, the independent Central Bank, had taken steps to control inflation and to develop a strong currency, he continued. It had succeeded in raising the value of the Iraqi dinar by 15 per cent and would work with the IMF to further tackle severe inflation. The Finance Minister and Central Bank officials would work in 2007 to reform the banking system. Plans were also in place to re-open 143 Government-run industries and plants that had stopped working during the war. Those efforts would take place initially in secure provinces and serve as models for “difficult” areas.
ASHRAF JEHANGIR QAZI, Special Representative of the Secretary-General for Iraq, noted that today’s meeting brought the Compact’s preparatory process to a close. The document had been finalized and presented to the partners and the time had come to agree on a date for the launch of the implementation phase within the framework to be agreed by the Government of Iraq and its international partners. The broader international community had a major stake in that process.
Pointing out that the Compact was not an exclusively economic initiative, he said it also had political and social aspects, reflecting Iraq’s priorities. It was particularly important to link the Compact with current and future domestic, regional and international initiatives, securing further support as had been done on 10 March at the Baghdad meeting of Iraq’s neighbours, the permanent members of the Security Council and others. Among other priorities was the need for funds from the United Nations High Commissioner for Refugees ( UNHCR ). The Government had begun to address the challenges facing Iraq, some of which could be carried out in the framework of the Compact. It had provisions for emergency response, including working with internally displaced persons, for example.
The Compact’s institutional underpinning would be strengthened by the establishment of its secretariat, he said. In addition, the United Nations country team for Iraq had developed a joint priority action plan, in accordance with the development and humanitarian mandates of United Nations agencies. However, some questions would have to be answered between the present time and the Compact’s final launch, particularly with respect to the joint monitoring matrix. One of those questions was whether each issue should be separately noted for regular Government briefings to its international partners regarding its achievements and challenges. That would strengthen the sense of partnership and facilitate the disbursement of already-agreed assistance.
“We are partners in the International Compact,” he said, noting that Government measures to provide security in Baghdad were complemented by a legislative programme, which included the adoption of the budget law for 2007, the Cabinet agreement on oil revenue sharing and other laws to be presented to Parliament for approval. An election commission had been formed to prepare for new elections, probably later this year. On the regional and international level, conferences were being held and planned to secure regional and international support for the Compact process. With the Compact’s preparatory phase concluded, the ball was now in the court of Iraq’s partners. The time had come to quickly launch the implementation phase so as to pass the fruit of the partnership on to the Iraqi people.
PressZoom.com - Global News Service - News and Press Release Distribution
Sounds like a WmKnowles qoute to me! Whoever said it I like it!:thumbsup:Quote:
Originally Posted by H2O_Lover
:noserious LOL, no i wasn't embarrassed of the language, i was embarrassed cause i thought i'd missed something, when you said we were screwed, haha...:wacko:Quote:
Originally Posted by Jola
Baghdad, Mar.4 p4
An authorized source at the Iraqi central bank emphasized that, the new forming of the monetary policy tools would share in enhancing ability of the banks in managing short liquid ratios
The source added that, the new policy would guiding according to the various changes including development degrees in offering the money and the ability of managing the liquid ratios besides the monetary policy tools a doubting by the bank it self. He concluded that, the new arrangement includes working with money markets and finance papers to find san active system give trust in offering payment arrangements within a reasonable amount of the interest
http://www.alsabaah.com/paper.php?s...rpage&sid=38183
The Finance Minister Baqer Jabr Al-Zubaydi all ministries to direct the implementation of its plan for the current year, the Finance Minister emphasized the readiness of his ministry to provide support and help them, especially with regard to the projects of interest to citizens
The minister added that his ministry has a new fiscal policy to address inflation problems and the advancement of economic reality and service in the mishap and create all ways to for the success of that mission, pointing out that his ministry has launched a number of funds to begin implementing projects in Baghdad and other governorates.
http://64.233.179.104/translate_c?hl...language_tools
Internet on line accounts now available with Aman Financial Service Automation of ISX underway....Unconfirmed reports speak of endorsing Foreign Investment in ISX soon..
Abdul-Razzaq al-Abaiji, an economist, told VOI "the decline in today's demand for the dollar was due to the expectation that a new policy will be adopted by the Central Bank to raise the dollar exchange rate in upcoming sessions."
The Iraqi Central Bank runs a daily auction from Sunday to Thursday
http://www.aswataliraq.info/modules...order=0&thold=0
To raise the change value of the Iraqi Dinar and to increase the interest rate of the Central Bank of Iraq.
The Central Bank of Iraq has assured that its activities in fulfilling its policy will take few months until there is an evidence in the direction of the inflation and its routes. There will be consideration to the conditions of pricing which get affected by temporary activities which happen every now and then and which result in increasing inflation specially caused by the flactuation of prices of fuel,transportation & communication, in addtion to the changeable of normal divisions in some of the sectors in the economics of Iraq.
It should not be ignored that the main inflation has shown some positive signs due the direct and indirect
causes in the main application of activities within the frame of the current economical policy.
The Central Bank of Iraq will work hard to lower inflation and face its directions and its causes to raise the value of the Iraqi dinar and its interest rate,until such a time when inflation will take its route downwards
which will help the whole economical stability and maintain the general growth of the economics of Iraqi.
The Central Bank of Iraq
Baghdad
March 11,2007
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 the Iraqi Government will be 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.
New Dates Confirmed for Iraq Oil, Gas, Petrochemical & Electricity Summit following Government Consultation | Iraq Updates
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.
The main text of the Compact
has been approved and finalized;
background material can be found at
International Compact with Iraq. The GOI would like
to conclude the Compact during a ministeriallevel
event in spring 2007. To facilitate that
objective, Prime Minister Maliki has asked
UN Secretary General Ban Ki-Moon to host a
sub-ministerial meeting in New York to finalize
the Compact text and secure commitments
from international partners.
The Central Bank of Iraq Denies Change Dinar Early Next Year
Safed Alsamuk-Baghdad
The Iraqi Central Bank denied that the change of the local currency within the current Iraqi actions he intends to begin work so as to meet the economic inflation in Iraq with the beginning of the year 2007.
The official spokesman said told ((today)) announced yesterday that there is no intention to change the Iraqi dinar at the moment, He refused to disclose whether there were any similar intention in the near future, after the Financial experts recommended deleting three zeroes from the Iraqi dinar after the American dollar to her and about a thousand dinars.
The spokesman noted that the launching of the issuance of new categories of the Iraqi currency into circulation depends on the requirements of the Iraqi economy to meet the expenses of the state in the coming stage, especially local supervision of the banking activity by the central bank and means of reform...
At last,Quote:
Originally Posted by Adster
Little by little the news is finally slipping out about just how much Iraqi oil people have been sandbagging on the total potential reserves are under Iraq. Soon it will be confirmed Iraq is number one in all the world for oil and gas, and when it is, we know the dinar will have to rise significantly. I am glad to see something made public on what I have been hearing for years regarding reserves from inside oil people.
Good luck to all, Mike
Quote:
Originally Posted by Adster
I think this is good news. How recent is it? Because they talk about the beginning of 2007.
He met the Prime Minister, Mr. Nouri Kamel al-Maliki His Excellency the President of the United States of America, Mr. George Bush, through closed-circuit television today, and the talk between them plan to impose law in Baghdad, the Prime Minister pointed out the efforts of the Iraqi government for the success of this plan and the importance of strengthening the building the Iraqi security forces.
وتم .Emphasis was placed on the Iraqi government to continue to work in the political and reconstruction in addition to its security and its national reconciliation and legislation for the eradication of the Baath Party and the oil.
اطي.The two parties agreed to provide peace and stability requirements for access to a stable, prosperous and democratic future.
كل.The President welcomed the work of the American Iraqi government to achieve these commitments and stressed his support for Prime Minister Nuri Kamal al-Maliki and the Iraqi government to achieve these goals.
.The leaders agreed to maintain direct contact between them.
http://64.233.179.104/translate_c?hl.../nhr0319m.html
way before WmKnowles landed on the forum.Quote:
Originally Posted by Escalade
Moscow hopes that the law permits Iraqi oil to enter the new Russian companies
Source : Reuters-19 / 03 / 2007
Russia said on Monday that it hopes to ensure the draft law to regulate the energy sector of the Iraqi allow Russian companies to operate in Iraq.
Fears Russia, which opposed the invasion, which led the United States to Iraq in 2003 to the exclusion of firms from the oil deals in Iraq when the Iraqi government to provide new concessions in the energy sector.
The draft law approved by the Iraqi government last month and now awaits approval by Parliament major step towards the opening of Iraq to foreign investment. And Iraq has the third largest oil reserves in the world.
It said the Russian Foreign Ministry in a statement that "the Russian side is aware of the importance of the law of the Iraqi energy sector to meet the state standards."
It added that Russia "expressed the hope that allows (law) for companies from different countries, including Russian companies enter the market of oil and gas Iraqi and stressed the readiness of Russian companies to participate in the rebuilding of Iraq's economy."
Russian companies have entered into a major oil firms led deals to develop energy reserves with the Iraqi government of former President Saddam Hussein. Frozen Iraq since the invasion of such transactions.
Khaleej Times Online >> News >> FOCUS ON IRAQ
Iraq wants reconstruction money and control over funds
(AFP)
19 March 2007
ISTANBUL - An Iraqi minister called Monday for the international community to deliver promised financial assistance to help rebuild his war-ravaged country, and demanded a greater Iraqi role in managing funds.
‘We have to speak frankly: the donations received by Iraq are less than what has been promised,’ said Iraqi Minister of Planning and Development Cooperation Ali Ghalip Baban.
He was speaking at the opening of the Iraq Reconstruction Forum, a multilateral meeting on Iraq’s reconstruction in Turkey’s biggest city Istanbul.
Baban, speaking through an interpreter, declined to give figures and did not say which countries had failed to keep their pledges.
But he said the 22 countries and international organisations participating in the gathering should seek a ‘remedy’ and be ‘more attentive to the priorities of the Iraqi government’.
‘We cannot maintain the old methods,’ he stressed. ‘The Iraqi government must be given a more important role in the selection of projects and the handling of the funds.’
At a UN-sponsored gathering in New York last week, Iraqi Vice President Adel Abdel Mahdi laid out an ambitious five-year plan of economic revival and urged the world community to respond with aid and debt relief.
He pledged that Baghdad would also fight corruption and keep to rigorous budgets.
The Iraqi authorities have been criticised for corruption, inefficientbureaucracy and budget failures as well as for failing to put all international aid for reconstruction into use.
‘The Iraqi government is quite capable of handling the task of reconstruction and development,’ Iraq’s Water Resources Minister Abdel Latif Jamal Rashed insisted in Istanbul.
‘My appeal is: deal with Iraqi institutions instead of bringing in non-governmental organisations and other institutions.’
The participants in the gathering included Australia, Britain, Canada, Germany, Italy, Japan and the United States as well as international organisations such as the United Nations, the Arab League and the World Bank.
Khaleej Times Online - Iraq wants reconstruction money and control over funds
Undersecretary of the Iraqi Ministry of Industry : privatization will begin from where other states
Source : Middle East-19 / 03 / 2007
The country's needs for foreign labor and in large numbers in the medium term
A Mohamed Abdullah Al-Ani, undersecretary of the Ministry of Industry and Minerals Iraqi and supervisor corporate activities, the concept of reservation on the phenomenon of unemployment in Iraq, saying the absence of the so-called employment-performing, but our current neutralization of the labor market and labor force.
Ani added that <situation in the country that is currently causing the elimination of the labor market, but it could be argued that, according to the laws, which recently approved, and especially the investment and the free market, which drafted the Ministry of Industry, a large part of them, capable of putting an end to the concept of unemployment>.
He pointed out that, according to recent studies, it was found that after the completion of the final picture of the Iraqi economy, it is expected that there will be an additional demand for foreign labor, and even non-technical them, pointing out that this means that all labor Iraq will not secure the actual need for the labor market, and this will be achieved over the medium term , or in a few years from now.
He explained that if we Ani a fraction of the files recent investment of the Ministry of Industry, and the establishment of 18 projects for the production of cement, we find they need more than 60 thousand workers, or one third of the staff of the Ministry of Industry and Minerals, of 190 thousand workers, covering more than 60 producing company.
Carrying and Undersecretary of the Ministry of Industry responsibility of the security situation faced by Iraq, saying in context : the challenge now is the security situation, some days ago one of the companies forced to close their doors completely, as a result of receiving a threat from one of the armed groups, either closure or bombing electricity system, in case of continuation of such harassment can build institutions capable of absorbing labor, stressing that unless there the protection of investors and investment funds and production, can be implemented investment laws.
In regard to the orientations of the ministry of privatization of the public sector and transform it into a free-market system, the agent that <the Ministry of Industry and Minerals and since 2003 has a clear and consistent in this regard, although penalized by the three ministers, a file system like outlines turn of the Minister to another without having the ability to change, is based on the frameworks designed carefully, and by qualified professionals, and also contains the experiences of many countries that have preceded us in this direction>.
He added : and the structure of the ministry is now fit and gradual transition to the free market and not sudden transformation, noting that the creation of two Deputy Minister, one representing the Ministry of Industry, in a time of socialism and the public sector, and the other is a free market, explaining that the first companies create and develop, and then deliver them to another project ready to try the free market.
He added in this area that experts of the Ministry of Industry Astvawa much from the experiences of other countries, especially Romania, Russia, Jordan, Egypt and other countries, aware of the failures that Sentjaozha in our experience, which will serve as a pilot experiment, unique, as they start from where they left States>.
And the fact that companies and the Ministry of Industry between <companies affiliated to the ministry, divided into three parts, including production companies, winning the same time, which are subject to development and increase production capacities and this means more profits, including pharmaceutical companies, cement, oil and engineering equipment.
There are also companies that stand on the line of self, or close to the profit and loss, which require the support of the transfer to the category of profit-making companies and then transferred, and finally a loss-making companies and the need to be developed as the study and application of solutions to improve the level gradually until delivery to the projects are to be converted or privatization>.
He stressed Ani in this regard, we do not want to begin the privatization of non-profitable projects, because this would affect the viability of the private sector, but on the contrary Our initiative with the support of the private sector and the advancement of its level in order to be able to take responsibility in the near future, especially as all the world's experiences have proved that the socialist sector the more, and left only in a few countries which are suffering due to this system.
Ani stressed that the door is now open for the free wide, but this does not mean all the conditions failure of public sector management of his companies, there are experiences that have shown just the opposite, and the proof is the success of the company <SABIC> Saudi Arabia, which is still profitable to this day, and its shares are the most popular in the circulation market. They also Ani to the problems facing the industrial sector in its march towards the Iraqi transition, emphasizing in this area : we are still working laws and was born and grew up in an atmosphere of socialist and the prevailing strategies tended to be of concern to military matters and civil negligence.
As is the nature of the prevailing thoughts company has developed a full order to satisfy because of his close associates and administration to get him to sit on a chair, without thinking of the project's success or failure, as were the industry leading to the blow when nationalization was successful industries and turned into dependent industries do not take into account quality of competition and measure it, and despite all that has benefited from this experience and that we all must work to improve the environment, which will be built by the private free, such as the banking and legal without which the private sector could not work and investment and reform of the economy could not be integrated without such an environment.
Achieved and what the Iraqi economy during the past four years explained <that the Iraqi economy, despite what some sensation in her, the economy is good, and when security and stability is achieved, the world will see that one of the most successful experiences, and less of what we have achieved over these years is a departure tests proved successful, and also recognizing the unique laws of its kind, such as the Investment Law and the Law of the oil, gas and process of economic reform, which provide all the success factors, what enjoyed by Iraq to help it is success has everything and needs only to the security, but could not determine the duration of the reform>.
Regarding preparations prepared by the Iraqi industry for the implementation of the Investment Law, it was calculated between him long before, but has worked to develop organizational chart, stressing that the ministry was not surprised by the law and has many files full investment, and investment will be announced soon to reform corporations, it can be said for all investors from the Arabs and foreigners, you enter now it will be a golden opportunity for you.
Allawi in "Secret Talks" with Coalition MPs
Ex-PM to Visit Iran Shortly
Posted 0 hr. 36 min. ago
Iyad Allawi, speaking in a press conference in Cairo on Sunday.
Photo by Khaled Desouki/AFP.
Iyad Allawi, speaking in a press conference in Cairo on Sunday.
The leader of the largest opposition bloc in the Iraqi parliament is conducting “secret negotiations” with members of parliament affiliated with the governing coalition.
Iyad Allawi, leader of the recently formed opposition bloc, is negotiating with members of the governing United Iraqi Coalition in hopes of poaching members from the ruling coalition to bring down the Maliki government an, Al-Melaf reports in Arabic.
The report cites an “insider source,” saying that the former interim prime minister has offered “promises” to these parliamentarians, in the case that he is able to form a bloc large enough to topple the governing coalition.
Allawi plans travel to Iran in the next few days, al-Melaf also reports.
The report does not discuss the purpose of Allawi’s intended visit to Iran or his planned itinerary in the country.
In the last week, Allawi has visited officials in Saudi Arabia, Kuwait, and Egypt.
The role of the United States in Allawi's efforts to orchestrate a withdrawal of parliamentary confidence from the Maliki government is not yet clear. The American ambassador accompanied Allawi on a recent visit to meet with officials in the Kurdish areas, and Saudi Arabia, Kuwait, and Egypt are US allies in the region.
IraqSlogger: Allawi in "Secret Talks" with Coalition MPs
Not from me.Quote:
Originally Posted by Escalade
All day today CNN has reported nothing but Bad in Iraq. But when you turn on Fox, they had Iraqi families on that says a totally different story. :nocomment
CNN reported Civil War all day. Fox reported a Poll done with 5000 Iraqi and they said what Civil War. :toofunny:
Infact these families on Fox reported that Iraq, including Baghdad, was better now for the citizen than it has ever been. But to hear it on CNN, it is the worst it has ever been.
My Opinion, News reporting Stations should be held accountable for their reportings. Why not? they hold people accountable for what they say. What is the difference?
Just thought I would share, probably you all already know this. I just got Satellite Radio, and can get but stations now instead of just that CNN at work. :wink:
Now I know what danny51 meant be them being Anti-Bush or Liberal.
Could not agree with you more over that ! From day one, the media has had a mission to discount everything positive that our young men and woman are doing over there! I would love for once that the mainstream media report the good that is happening over there and maybe for once, people could see that we are making a difference!!!
Green Zone
Price Check: Baghdad Green Zone Burger King
Have It Your Way -- As Long As You Have a DoD Badge For Entry to PX Food Court
Posted 2 hr. 43 min. ago
Whopper with cheese $3.45
Double Whopper with cheese $4.25
Triple Whopper with cheese $4.95
Big King $4.25
Chicken Whopper with cheese $4.25
Chicken Crisp with cheese $4.25
Chicken Royal with cheese $4.25
Large fries $1.75
Onion rings $1.75
Hershey's piece $2.00
Apple pie $1.25
Coke/Diet Coke/Fanta/Sprite $0.75
Price check today -- March 19, 2007
Permalink Good News Email This PostOnly on Slogger
Baghdad Neighborhoods: Price Check
Slogger Sources: Stable Prices around the City
03/17/2007 3:50 PM ET
Neighborhood Kerosene Cooking gas Marlboros Bread
(1,277 ID = 1 USD) one liter one bottle one pack one loaf
Kerosend Cooking Gas Marlboros Bread
Sadr City 750 12,000 2,250 125
Harthiya 1,100 13,000 2,250 150
Kadhimiya 800 15,000 2,250 100
Washash 900 14,000 2,000 83
'Alawi 900 16,000 2,000 83
South Baghdad 1,000 15,000 2,250 100
Sha'ab 1,000 13,000 2,000 83
Hay Ur 900 15,000 2,250 83
Zayyona 1,000 15,000 1,500 100
Baghdad al-Jadida 1,000 13,000 2,250 100
Rashid 1,000 12,000 2,250 125
BAGHDAD REPORT: Checkpoint and Double Checkpoint
PJM SeattleMarch 19, 2007 10:28 AM
When an Arabs or westerners ask me about the situation and I answer that hope remains and that we’re looking forward to a better future most would say ‘Are you living in this world?’ I answer, ‘Yes, it’s you who live in the parallel world the media built for you with images of only death and destruction’.
by Mohammad Fadhil
STOP! Official Checkpoint By orders of the Prime Minister and Commander of Baghdad Operations Checkpoint No. 4 Sector No. 6
A sign similar to this one greets you at all fixed checkpoints in Baghdad. These words authenticate the legitimacy of the checkpoint and emphasize who’s in charge in this or that area.
With the constant force buildup many streets now host multiple checkpoints, both fixed and mobile. All are positioned in a manner that allows soldiers in one to have visual contact with those in the next one.
As the operations continue, the interior ministry is introducing new identification measures for vehicles used by its personnel. The new armored vehicles are unique and leave no room for confusion, while the SUV’s are getting new light-green paint with the words ‘National Police’ well visible on the sides.
From my personal experience I can tell that the men staffing the checkpoints do not take their job lightly. One can feel that a long month of hard work did not exhaust them, and I am awed by the courage of those soldiers and policemen. In a city which has absorbed more suicide bombings than all other cities in the world combined every passing vehicle or motorcycle is a threat.
I can’t imagine myself in a position where my job requires I open dozens of trunks every day and each one of those moments might be the end of my life and those of the people around me. The physical and psychological pressure is enormous, yet those brave men continue to be our shield.
I was listening to the radio this morning and the first headline was ‘Policeman killed in an explosion south of Baghdad’. The story later explains that ‘south of Baghdad’ actually meant Babil. Babil is actually 60 miles away from Baghdad. The misleading headline underscored again how most media try to associate every piece of bad news with Baghdad to maintain the image of violence associated with the city.
No doubt people who follow the news as it is being reported in the West get the impression that we’re fighting a lost war, and I feel that there won’t be a day when our struggle to live a normal life and what we achieve in this path will make headlines that run above those of death.
You look around in Baghdad now and see hundreds of men working in the streets to pick up garbage; to plant flowers and paint the blast walls in joyful colors. Many of Baghdad’s squares are becoming green and clean. The picture isn’t perfect, but it’s a clear attempt to beat violence and ease pain through giving the spring a chance to shine.
Nights in Baghdad now are far from quiet, but the sounds cause less anxiety for me than they did before. I recognize the rumble of armor and thump of guns and they assure me that the gangs and militias do not dominate the night as they once did.
When an Arabs or westerners ask me about the situation and I answer that hope remains and that we’re looking forward to a better future most would say ‘Are you living in this world?’ I answer, ‘Yes, it’s you who live in the parallel world the media built for you with images of only death and destruction’.
If it surprised some of them that a poll found Iraqis optimistic, then I’m surprised that someone finally bothered to ask Iraqis how they feel.
Just as free birds would never return to the cage, we don’t want to return to the days of the tyrant. Birds do not care that beasts roam outside and would not feel nostalgic for a home or meal mixed with humiliation.
All that a free bird cares about is to spread wings and fly as it pleases.
———
Quote:
Originally Posted by michael16
Thanks Michael! That says it all!!
Interesting,
No doubt with all the news on these new poles, makes you wonder how quickly these numbers would change if parliament got off their dead head a$$es and put the oil wealth into the hands of the poor.
We keep hearing about the violence as the number one issue with citizens, and rightly so, but put a million dinar in everyone's hand and see what the pole would now show. Money talks, nobody walks, as the old slogan goes. (g) With average income going up from $150. per month to $286., this is a start, but a far cry from what it should be given the oil wealth.
Good luck to all, Mike
So does Burger King take Dinar.:biggrin:Quote:
Originally Posted by michael16
Great report out of Iraq, Michael. that is way we in the know feel also. MEDIA thrives Off of the BAD news. even in Local environment. The killing or death of a famous person draws more attention than a project to help the poor, and improverished. Its Just that way. BAD NEWS sells Papers. Life and people are strange at times. I thank everyone here that brings out the good news so often. Just wishing the dinar does a massive RV with a high increase in value. BOB
Quote:
Originally Posted by michael16
Another great article directly from an Iraqi no less.
:bow:
:woohoo:
GO IRAQ, GO U.S.A.
:cheers:
I hear ya on that stuff, check this one out, don't know if it was posted yet or not. Why do they do s**t like this.Quote:
Originally Posted by neno
Poll: Iraqis gripped by fear and anger - Yahoo! News
Hi, We have had the same here in the U.K. ITV News are running a report every day this week direct from Baghdad, according to them it is as bad now as it was three years ago, no reporting of any progress, its ridiculous, what is the advantage of only reporting bad news- do they think they will be out of a job if they report anything good.
This is why I posted what I did. This link you just posted was a day after what Fox put out on the 5000 Iraqi's were polled. They contered with this. It is like it is a Media War too. How Freakin Stupid.Quote:
Originally Posted by frathousemicrowave
When the RV comes, and I am rich. This might be a job I want, to Boycott Media Giants and expose them to their own wrong doings. Maybe even start a rally to take to the House or senate for a major debate. :ro_emote:
If we get another Republicain President. They might very well be. lol :toofunny:Quote:
Originally Posted by abbey56
from the looks of this one i would say that 'getting the banking industry ready' is going rather well.Quote:
Originally Posted by Bengstrand276
someone else and ive altered my original post as ive been thinking about it further. might check it out, #73 in this thread presently.Quote:
Originally Posted by cigarman
:woohoo:WOoTTTT!!!!!Quote:
Originally Posted by Adster
as i would say, :rofl:
Hey Neno, glad you were able to upgrade away from CNN and NPR!! LOLQuote:
Originally Posted by neno