Thread: Iraq/Dinar News up until April 10th 11pm ctz

Stopping inflation solutions are required to deal with the rise
06 / 04 / 2007
Interpretation morning

The Iraqi economy is currently suffering from worsening inflationary pressures, which reflected negatively on Iraqi citizens by reducing the purchasing power due to the rise in prices, which means reducing the quantities of goods and services Can obtained the same amount of income at different times sequentially. For example, if a citizen can obtain certain goods and services earnings in the past year, they will find themselves unable to purchase the same set of goods and services in the current year the same income as a result of high prices. This will compel citizens to demand an increase of their salaries and wages, especially the salaries of state as long as the state employees can not increase their salaries for themselves, based on the law, unlike the private sector, which could face higher prices rise in the prices of goods and services. Overall, May will increase the salary increase in the prices? Some States have applied this procedure, But Can Iraq do so? Iraq is a country with oil and the price of crude oil has risen in the international market, which means an increase in the financial resources of the state and this can increase staff salaries, but can do so only on the basis of specific circumstances may not be available in the Iraqi economy to the least for the time being. The conditions required for the application of this procedure are : 1. Increasing the number of workers in the private sector, to at least double, from working in the public sector. If we look at the Iraqi economy, we will see that the number of workers in the public sector has doubled in the past two years; first because of the weakness of the private sector in providing job opportunities and secondly because of the high salaries of state employees that will attract more citizens to submit requests for appointment or return to the job, and this will lead to inflation of the number of workers public sector and consequently low productivity. 2. Must reduce the annual inflation rate to no more than 10% and therefore the required increase in salaries must be limited and can be provided by the Ministry of Finance, but when the inflation rate was very high, the number of public sector employees and the number of retirees will increase also, as is the case in Iraq, it will be difficult the Ministry of Finance must bear the large amounts required to increase salaries to be equivalent to the rates of the high prices. 3. The State must have the ability to provide the increase in salaries through local resources such as income taxes and increase income public institutions through increased prices for goods and services provided to citizens or through reduced public spending and convert it into salaries so that they do not lead to increase salaries to increase the money supply and thus aggregate demand Hence prices higher again. In the Iraqi economy, we find that the salaries and retirement benefits make up a great deal of public expenditure and if we add the amounts of government support for fuel and the ration card, water, electricity and health, will be all that a large proportion of public expenditure. On the other hand, we find that the local revenue remains weak; whether tax revenues because of the security situation and the weakness of private activity, which is the basis of the tax, or income of some public institutions that provide goods and services, which require support from the Ministry of Finance to pay its employees. We find all this that the increase in staff salaries may lead to an improvement in the standard of living in the short term but will increase inflationary pressures in the medium term, as happened after the salary increases in 2003 and 2004

marsadiraq.com

Raghad Saddam Hussein monitor the massive budgets of the acts of sabotage in Iraq
Baghdad / 4 - 5-2007 Journalist / Iyad Abdul Razaq

Talks among Iraqi close to the family of President Saddam Hussein Al-Tikriti dictatorial regime that the former tyrant zero daughter Raghad recently allocated huge budgets for the armed groups belonging to religious and political trends varied in Iraq in order to carry out large-scale sabotage in different regions of Iraq. And there were reports that Saddam Hussein's daughter Raghad zero President personally supervised the identification of budgets allocated by the financial intermediaries to Arabs and Iraqis residing in Amman and Doha to be sent to Iraq and handed over to the leaders of armed groups, which range from the arrival of destruction and acts of sabotage and murder and spread chaos and striking joints security and stability in Iraqi cities and especially the capital, Baghdad. It quoted Raghad Saddam Hussein in one of the private meetings, which were held in the Jordanian capital of Amman with Iraqi figures linked aggregates armed in Iraq as saying that it is ready to allocate one billion dollars and pumped to work armed subversion in Iraq in retaliation for her father and siblings, as she called it .. The story reported that among Iraqis near the Circum the blessing of Saddam Hussein in Amman that Raghad confirmed the present of the senior commanders of the Republican Guard is dissolved and the Baathists loyal to her father that all convictions of financial support and militarization unreached immediately and transfer them as saying .. You have to stay alive and Essiankm Thortkm excited ..! Well-informed sources said that Raghad Saddam Hussein shuttling between Amman and Doha, have been very active between the two capitals to meet the leaders of armed groups and their representatives and provide financial support and advice to them, under the eyes of the Jordanian government and the country and care. The sources suggested that Raghad Takriti now they have power and influence between the totals belong to the clans in Tikrit and some elements of Saddam Fedayeen who engage in acts of killing and destruction in Iraq, in a systematic and organized and ordered it became clear fingerprints on the Iraqi street, and on a daily basis

marsadiraq.com

Originally Posted by shotgunsusie

it was held on the 6th, they wrote about it on the 7th i believe is the discrepancy on those two dates. however, initially it was to be discussed later and the date was moved up.

The original date was the 18th...then changed to the 6th but what caught my attention was that this notice is from yesterday the 5th and they're speaking of the meeting like it has already occurred. Just thought it was odd...

Allawi announced According to political sources on the parliamentary front in the coming period (French-archive
Fadel Mashaal-Baghdad
About the former Iraqi Prime Minister Iyad Allawi on the completion of the announcement of establishing Front includes more than 80 deputies component of the (275) deputies, and after it happened - according to Arab sources did not reveal the identity-Arab reassurances during the recent tour, which included Saudi Arabia and Jordan in March last year.
According to those close to him, the Allawi attracted Sheikh Majed Abdul-Razzaq Ali Al Anbar province chieftains, the President of the Iraqi House in Jordan.
The new bloc will comprise the National Dialogue Front, led by Dr.. Saleh Almtalk comprising 11 member parliamentary bloc and independents that have five seats in the Chamber of Deputies, and the reconciliation and liberation bloc, Mashaan al-Jabouri chairmanship, in addition to the Accord Front led by triple Sunni Sheikh Khalaf Al-Alyan, Adnan Al Dulaimi and Tariq Al-Hashmi, Vice President of the Republic, represented by 45 seats in the parliament, in addition to the national list Iraqi chaired by Allawi and includes 25 deputies.
The same sources reported that Allawi is seeking over the next couple of months to announce the resurrection Tktlin first parliamentary and other political, which will include members of parliament are likely to Inshqua the major political blocs.
The sources emphasized that there is currently an American blessing of the Kurds to join the new front, which planned to acquire the parliamentary majority, and is able to form a new Ministry of secularism.
A member of parliament asked not to disclose the identity of the political blocs on the way to training within and outside the parliament, before the expiration of the mandate of its current parliament which still had two years.
It is believed political analyst and professor of political science, Dr. Mustansiriyah University. Mustafa Abdul Karim that the Kurds are the closest to the alliance with Allawi of the Shiite alliance with the ruling coalition.
He says Sheikh Majid Ali, after four years on the aggravated situation in Iraq, "make sure everyone living and observing the suffering that the Iraqi national curriculum led by Allawi, is the way in driving Iraq from the current crisis and put an end to the deterioration and restore Iraq to take its role as civilization."
Allawi was paved for his political future to the new relationship that has blasted bridges during his tenure the first Prime Minister of Iraq, with the Sadri trend led by the young Shiite cleric Muqtada al-Sadr
Island

marsadiraq.com

Originally Posted by ordinaryseawoman

Published: 05/04/2007 12:00 AM (UAE)

Currencies weaken as GCC keeps dollar peg
Reuters
London: Gulf currencies weakened yesterday with the Saudi riyal at a two-month low a versus the dollar as regional central banks reiterated their commitment to existing currency pegs, sending speculative flows into reverse.

A meeting of central bank governors in Saudi Arabia ended on Tuesday with their agreeing to maintain currency policy in the face of market pressure to loosen pegs to the falling dollar.

The executive president of Oman's central bank said the agreement to keep the peg system was informal and had not been formally discussed during the meeting.

"Informally the governors agreed that everything will stay as it is," Hamood Sangour Al Zadjali told Reuters.

Speculation about a currency revaluation had gathered pace before the meeting but banks have moved to quash these bets, with Kuwait and the UAE cutting interest rates in recent days. Kuwait also cut the coupon on its benchmark bonds, making the assets less attractive to speculators.

"The currencies are weakening because all the speculative flows were positioned for a revaluation, then over the past week we have had several signals that the Gulf currencies will not revalue," said Koceila Maames, economist at Calyon in Paris.

Gulfnews: Currencies weaken as GCC keeps dollar peg

Prices are a droppin. Looks like it may be time to buy, buy, buy..... My guess is look for the GCC guys to reval now that they have thrown off all of the speculators.

Originally Posted by shotgunsusie

no link but darn interesting remark!! apparently iraq has SA by the cahoneys.
Quote:
The governors did agree to leave their exchange rate regime unchanged, Saudi Arabian Monetary Agency Governor Hamad Saud al-Sayyari told reporters after the meeting, although his patience wore thin when he was asked to be more precise. “Don’t you listen?” al-Sayyari snapped at one reporter. “What do you want? I’ve already said that we are sticking to the same foreign exchange system.” Al-sayyari was believed to have been thinking..."Its all the Iraqis fault"
__________________
... just a misplaced kurd awaitin my $1.20

This certainly would explain why the Saudi Arabian government has been badmouthing our U.S. policy on Iraq lately.... Guess you (S.A.) shouldn't allow your "private" citizens to sponsor those terrorist madrassa's eh you lying S.O.B.'s.

Please excuse if previously posted. Thank you.

UAE Crescent to study oil exploration in Iraq
Web posted at: 4/6/2007 10:56:2
Source ::: REUTERS
DUBAI • The UAE's Crescent Petroleum met with Iraqi officials this week to finalise a joint study on an oil exploration area in southern Iraq, Crescent said in a statement yesterday.

Iraq's cabinet endorsed a draft oil law in February that aims to lure billions of dollars of foreign investment to boost the country's output. The law is still awaiting parliament's ratification.

Many international companies have undertaken studies of oil and gas fields and training programmes for Iraqi officials as they position themselves to win stakes in the country's prized oilfields.

"Crescent Petroleum as a company from the region is firmly committed to Iraq and its oil industry for the long term," Crescent Executive Director Majid Jafar told Reuters yesterday.

The exploration area to be studied is near the southern city of Basra and the border with Kuwait, Crescent said. It did not give the name of the area.

Crescent has conducted studies for other regions in Iraq, and has also drawn up a development plan for the giant southern Ratawi field. Ratawi's potential output capacity is at least 200,000 barrels per day.

The new 10-month study will look at methods for seismic measurement and preparation of geological studies of the region.

Crescent representatives and Iraqi officials met in Amman, Jordan. The meetings followed on from a technical cooperation agreement that Crescent and the Iraqi Oil Exploration Company signed in September 2005.

Iraq's oil sector has been hampered by decades of sanctions under Saddam Hussein and years of violence since the U.S.-led invasion in March 2003.

Iraq said earlier this week that it had invited 15 Arab, Asian and American firms to drill 100 oil wells in the country's south as part of efforts to boost production. The invitations were issued at the end of March and will close at the end of May.

Originally Posted by Lunar

The original date was the 18th...then changed to the 6th but what caught my attention was that this notice is from yesterday the 5th and they're speaking of the meeting like it has already occurred. Just thought it was odd...

I may be incorrect but IMO this was just a meeting to allow anyone to voice their opinion on the Oil & Gas Law before it goes to parliment on the 18th.
There were parliment members there but they also invited anyone that had issues or ideas about the law so it could be discussed before the first official parlimentary meeting occurs, which will most likely be behind closed doors and not open to the public like this meeting in Dubai.

Lewscrew

RECONSTRUCTION PLAN

Iraq Says Reconstruction Meeting Set for Early MayA high-level meeting to launch a five-year international reconstruction plan for Iraq will be held in early May.Reuters A high-level meeting to launch a five-year international reconstruction plan for Iraq will be held in early May, Iraqi government spokesman Ali al-Dabbagh said on Friday.

Dabbagh declined to say where the meeting, which is expected to involve numerous governments and international agencies, would take place.

But the timing coincides with a separate conference between Iraq, its neighbours and world powers that Foreign Minister Hoshiyar Zebari said on Thursday would convene in the first week in May. He also declined to give the location of the gathering.

The International Compact with Iraq would see Iraq given international support, financial, political and technical, in return for political, security and economic reforms.

"The Iraq Compact will be held in early May," Dabbagh said.

The reconstruction plan was unveiled by U.N. Secretary-General Ban Ki-moon and Iraqi Vice President Adel Abdul-Mahdi last month.

The compact outlines targets for Iraq to hit during the next five years, including annual economic goals. It also includes legislation the government hopes to pass by the end of 2007.

At the official launch of the compact, countries would be expected to make pledges of assistance, officials have said.

Iraq has the world's third-largest proven oil reserves but needs billions of dollars to revive the sector, which is crucial for rebuilding its shattered economy.

The ministerial meeting of Iraq's neighbours and world powers will follow up talks in Baghdad last month aimed at stabilising the country.
Javno - World

BAGHDAD: Iraq is negotiating a $500-million loan from the World Bank to help reconstruct its war-torn economy, the Prime Minister's office said yesterday.

A statement from Nuri Al Maliki's office said the cabinet had authorised Finance Minister Bayan Jabr Solagh to sign the loan agreement.

"The council of ministers decided in an extraordinary session on March 29 to authorise the finance minister to negotiate and sign a loan agreement with the World Bank worth $500 million," the statement said.

The World Bank has remained active in Iraq but closed its office in the country after one of its employees was killed in a truck bombing at the UN complex in Baghdad in August 2003.

The bank has given loans to Iraq since the 2003 US-led invasion, mainly for improving the country's dilapidated educational institutions.

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