Thread: Iraq/Dinar News Until 5/3/07 Midnight CST.

Originally Posted by pipshurricane

Books : dhrgham on Thursday, 03 May 2007 2:51 PM-BT

High demand for the dollar to record level
Dargham of Muhammad Ali
Baghdad - (Voices of Iraq)
Increased demand for the dollar purchase auction Iraqi Central Bank to a record during the month as the volume of demand today, Thursday, at the end of week 100 million and 640 thousand dollars, the highest volume during the month, compared with 78 million and 750 thousand dollars yesterday.
Such purchase orders by 16 million and 575 thousand dollars in cash and 84 million and 65 thousand dollars in the form of remittances outside the country covered by the bank fully exchange rate reached 1267 dinars low one point on the exchange rate yesterday to become the decline in the exchange rate for the current week three points at each meeting point at meetings Monday, Wednesday and Thursday.
With advanced banks of the 16 participating in the auction, offers to sell million dollars lower than yesterday offers $ 2 million purchased the bank exchange rate amounted to 1265 dinars low point of purchase price yesterday.
Mr. Ali Yasiri, one dealing with the World News Agency (Voices of Iraq) Independent said that "depreciation of the exchange rate by one point during the past three days encouraged both speculators and transferors on purchase price that will stabilize due to the auction to be held on Friday and Saturday, is expected exchange rate stability Sunday."

Version traduite de la page Aswat al Iraq :: Aswat al Iraq

Auctions on Friday and Saturday, when did that happen last time??

Originally Posted by zipper

I see the reference to the loan, but nothing about debt forgiveness here - unless it's in the reference to the Madrid conference?

Came out earlier this week that SA was forgiving 80%

Originally Posted by Raditz

Auctions on Friday and Saturday, when did that happen last time??

Crap translation. No Auction Friday or Saturday.IMO

Heres what i just put on the other forum :-

I think this could be a bad translation - this is what it says on the English side of VOI.

http://www.aswataliraq.info/modules....rder=0&thold=0


Iraq-Currency
Demand for dollar exceeds $100 m ceiling in Iraqi daily auction
By Dergham Mohamed Ali
Baghdad, May 3, (VOI) – Demand for the dollar was up in the Iraqi Central Bank’s daily auction on Thursday, reaching $100.640 million compared with $78.750 million on Wednesday.

In its daily statement the bank said it had covered all bids, which included $16.575 million in cash and $84.065 million in foreign transfers, at an exchange rate of 1,267 dinars per dollar, one tick lower than yesterday.

The 16 banks that participated in Thursday's auction offered to sell two million dollars. The bank bought them all at an exchange rate of 1,265 dinars per dollar.
Ali al-Yasseri, a trader at auction, told VOI "the one-tick decline in the exchange rate over the last three sessions has encouraged traders and brokers alike to make higher offers in cash and foreign transfers as the auction will not convene until Sunday because the Iraqi auction weekend is Friday and Saturday."
The Iraqi Central Bank runs a daily auction from Sunday to Thursday.

Iraq-Currency
Demand for dollar exceeds $100 m ceiling in Iraqi daily auction
By Dergham Mohamed Ali
Baghdad, May 3, (VOI) – Demand for the dollar was up in the Iraqi Central Bank’s daily auction on Thursday, reaching $100.640 million compared with $78.750 million on Wednesday.
In its daily statement the bank said it had covered all bids, which included $16.575 million in cash and $84.065 million in foreign transfers, at an exchange rate of 1,267 dinars per dollar, one tick lower than yesterday.

The 16 banks that participated in Thursday's auction offered to sell two million dollars. The bank bought them all at an exchange rate of 1,265 dinars per dollar.
Ali al-Yasseri, a trader at auction, told VOI "the one-tick decline in the exchange rate over the last three sessions has encouraged traders and brokers alike to make higher offers in cash and foreign transfers as the auction will not convene until Sunday because the Iraqi auction weekend is Friday and Saturday."
The Iraqi Central Bank runs a daily auction from Sunday to Thursday.

Originally Posted by PAn8tv

Came out earlier this week that SA was forgiving 80%

My understanding is that both Iraq and the US announced that they expected the 80%, but were waiting for the conference. Did Saudi actually announce it?

I'll opt for the second article thanks Seaview.

"This brings our total humanitarian and reconstruction support for Iraq's reconstruction to 744 million pounds or 1.5 billion dollars," she said, announcing the extra 100 million pounds.

"Our work with the Iraqi government building their capacity and unlocking resources already available in Iraq's budget, continues to be a British priority," Beckett said.

Beckett joined Iraqi Prime Minister Nuri al-Maliki and President Jalal Talabani at the launch of the International Compact with Iraq (ICI) in the Red Sea resort of Sharm el-Sheikh.


Full article..

http://p296.news.mud.yahoo.com/s/af...BDi0lpkqudX6GMA

Originally Posted by pipshurricane

Books : dhrgham on Thursday, 03 May 2007 2:51 PM-BT

High demand for the dollar to record level
Dargham of Muhammad Ali
Baghdad - (Voices of Iraq)
Increased demand for the dollar purchase auction Iraqi Central Bank to a record during the month as the volume of demand today, Thursday, at the end of week 100 million and 640 thousand dollars, the highest volume during the month, compared with 78 million and 750 thousand dollars yesterday.
Such purchase orders by 16 million and 575 thousand dollars in cash and 84 million and 65 thousand dollars in the form of remittances outside the country covered by the bank fully exchange rate reached 1267 dinars low one point on the exchange rate yesterday to become the decline in the exchange rate for the current week three points at each meeting point at meetings Monday, Wednesday and Thursday.
With advanced banks of the 16 participating in the auction, offers to sell million dollars lower than yesterday offers $ 2 million purchased the bank exchange rate amounted to 1265 dinars low point of purchase price yesterday.
Mr. Ali Yasiri, one dealing with the World News Agency (Voices of Iraq) Independent said that "depreciation of the exchange rate by one point during the past three days encouraged both speculators and transferors on purchase price that will stabilize due to the auction to be held on Friday and Saturday, is expected exchange rate stability Sunday."

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

Bad translation...there will be NO auctions on those days !!!!

Maliki adviser : Iraq needs investments worth 187.7 billion dollars

Adel Mahdi (life) - An optical Kamal adviser of Iraqi Prime Minister Nuri al-Maliki for Economic Affairs yesterday that Iraq needs investments worth 187.7 billion dollars.
وأوضح البصري في حديث إلى «الحياة» عن تحديات تواجه العراق حالياً بينها حاجته الى تأمين الاستثمارات التي تتطلبها عملية التنمية الشاملة المنشودة فيه، والتي يقدرها بحوالي 178.7 بليون دولار للفترة الممتدة من 2007 حتى 2010، والتي لا يمكن تأمينها من الايرادات الداخلية.
He explained in an interview with the optical «life» on the challenges currently facing Iraq, including the need to secure investments required by the desired comprehensive development process, which were estimated at about $ 178.7 billion for the period from 2007 until 2010, which can not be secured from the Internal Revenue Service.
وأوضح أن بلاده تستطيع توفير هذا المبلغ أو جزء مهم منه من خلال المنح والقروض الميسرة والاستثمار الاجنبي المباشر واستثمارات القطاع الخاص الوطني.
He explained that his country can provide this amount, or an important part of it through grants and soft loans, foreign direct investment and private investment nationally.

وأكد أن الحكومة العراقية تريد من وثيقة العهد الدولي التي ستقر في مؤتمر شرم الشيخ اليوم، الدخول مع الدول الموقعة عليها في شراكة يلتزم فيها العراق منهجاً معيناً، فيما تعمل هذه الدول على مساعدته في مواجهة التحديات المختلفة التي تواجهه حالياً وبلوغ الأهداف المعلنة على مدى خمس سنوات.
He stressed that the Iraqi government wants the International Covenant document to be adopted at the Sharm el-Sheikh today, entering with the signatory States in a partnership approach where Iraq is certain, working with these countries to help meet the various challenges currently facing the attainment of the stated objectives over five years.

وتابع البصري أن العراق يواجه جملة تحديات تتطلب جهوداً وطنية وإقليمية وتعاوناً دولياً من الدول الكبرى والمؤسسات الدولية.
The optical inter Iraq faces challenges will require national, regional and international cooperation by the major powers and international institutions.
وزاد أن «مشكلة الديون أفضل مثال على حاجة العراق إلى المجتمع الدولي، إذ كانت تشكل عقبة في عودة العراق الى اقامة علاقات اقتصادية مع المجتمع الدولي، ولكن بفضل تعاون الدول المهتمة في الشأن العراقي، جرى تذليل المشكلة وإلغاء 80 في المئة من الدين».
He added that «debt problem, the best example of the need for Iraq to the international community, as they constitute an obstacle to the return of Iraq to develop economic relations with the international community, but thanks to the cooperation of States interested in the Iraqi issue, the problem was overcome and the cancellation of 80% of debt».

وأضاف أن «الحكومة العراقية تجد نفسها أمام تحديدات كبيرة بسب انهيار البنى التحتية وتعطل المؤسسات الانتاجية.
He added that «the Iraqi government found itself before the great limitations due to the collapse of the infrastructure and disruption of productive enterprises.
وبسب هذه المشكلة وتعاون المجتمع الدولي، عُقد مؤتمر مدريد للدول المانحة في تشرين الأول (اكتوبر) عام 2003، وتعهدت دول كثيرة تقديم دعم مالي».
Because of this problem and the cooperation of the international community, the Madrid conference of donor countries in October (October) 2003, and many countries pledged financial support ».

Alakhbar Newspaper (Iraq) جريدة الأخبار

U.S.: Rice to Meet With Syrian FM
By QASSIM ABDUL-ZAHRA, Associated Press Writer
1 hour ago

SHARM EL-SHEIK, Egypt - Secretary of State Condoleezza Rice will meet Syria's foreign minister in the first high-level talks between the countries in years, a U.S. official said Thursday, and the chief American military spokesman in Iraq said Syria had moved to reduce "the flow of foreign fighters" across its border.

But a substantive meeting between the United States and Iran _ another U.S. opponent in the Mideast _ appeared less certain. The Iraqi government is pressing for Rice and her Iranian counterpart to meet during the gathering, saying Washington's conflict with the government in Tehran is only fueling Iraq's instability.

"We expect that there will be a discussion between Secretary of State Rice and the Syrian foreign minister about Iraqi security issues," said a senior State Department official, who spoke on condition of anonymity because the meeting was still being arranged.

In Baghdad, U.S. Maj. Gen. William Caldwell said Syria had tightened its borders to and reduced the number of foreign insurgents crossing into Iraq.

"There has been some movement by the Syrians ... there has been a reduction in the flow of foreign fighters into Iraq" for more than a month, Caldwell said.

Both the United States and Iran had also spoken favorably of a possible meeting, but the chances for that remained unclear, and neither side had commented publicly on any immediate arrangements.

Iraq and the United States hope Thursday and Friday's conference of nearly 50 nations at this Egyptian Red Sea resort will rally international support _ particularly from Arab nations _ for an ambitious plan to stabilize Iraq.

Iraq is pressing for forgiveness of debt and for Arabs to take greater action to prevent foreign fighters from joining the Iraqi insurgency. Arab countries, in turn, demand his government ensure greater participation by Sunni Arabs in Iraq's political process, echoing the United States.

Iraqi Prime Minister Nouri al-Maliki opened the conference by urging all countries to forgive his country's enormous foreign debts _ estimated at about $50 billion. Another $100 billion has already been written off by the Paris Club of lender nations.

But Saudi Arabia's foreign minister, Saud al-Faisal, told the conference only that his country "has expressed its readiness to alleviate some of the debts on Iraq" and was currently in discussions with Iraqi officials to deal with the issue "in line with the regulations and bases of the Paris Club."

Iraqi and U.S. officials had said Saudi Arabia privately had already committed to forgiving 80 percent of Iraq's $17 billion debt.

Signs of new tension between Iraq and Saudi Arabia emerged in the leadup to the conference when Saudi King Abdullah, dismissing pressure from the United States, turning down a request to meet with al-Maliki.

Al-Faisal, addressing the conference, renewed a Saudi offer of $1 billion in loans to Iraq, on the condition that the money be distributed equally among "Iraq's geographical sectors."

Al-Maliki pledged to institute reforms to boost Sunni participation but said forgiving Iraq's debts was the only way the country could rebuild.

Rice's meeting with Syrian Foreign Minister Walid Moallem will be the first such high-level talks since the February 2005 assassination of former Lebanese Prime Minister Rafik Hariri. Syria denies it had anything to do with the killing, but U.S. and European officials have since shunned the Damascus government.

Last month, President Bush assailed House Speaker Nancy Pelosi for making a trip to Damascus, saying it sent mixed messages to the Syrian government, which his administration considers to be a state supporter of terrorism. Pelosi said her delegation was "assessing the ground truth" to inform spending decisions made by Congress.

The bipartisan Iraq Study Group, U.S. allies and lawmakers of both parties have urged Bush to reconsider in the hope that Iran and Syria can be persuaded to use their influence inside Iraq.

Iraq and many Arab countries have been particularly eager, even desperate, for such talks _ saying they are only the way to stabilize Iraq and lessen Iran's growing influence in the region.

Rice has also said she was willing to meet Iranian Foreign Minister Manouchehr Mottaki, after years of accusations and name-calling between the nations. Iranian President Mahmoud Ahmadinejad had also expressed interest in such a meeting.

During Thursday's session, the two sat on far ends of the large conference hall where the ministers and top diplomats from nearly 50 nations gathered. They both attended a lunch along with the other foreign ministers.

"All of us here today are bound to the future of Iraq. What happens in Iraq has profound consequences which will affect each and every one of us," Rice said in a speech to the conference.

In his speech, Mottaki blamed Iraq's turmoil on "the flawed policies of the occupying powers" _ referring to the U.S.

Iraq has offered to mediate between Iran and the U.S., an aide to al-Maliki told the Associated Press, speaking on condition of anonymity because of the sensitivity of the discussions.

Al-Maliki told Rice on Wednesday that "a rapprochement must take place between you and the nations of the region to solve the issue of Iraq, particularly Syria and Iran," according to Iraqi Planning Minister Ali Baban, a Sunni.

The U.S accuses Iran of fueling Iraq's violence by arming and backing militants there, a charge Iran denies.

The two-day conference in this Red Sea resort town brings together officials from Iraq, the U.S., Iran, Russia, China, Europe and Arab nations.

___

Associated Press writers Anne Gearan and Edith M. Lederer in Sharm el-Sheik and Salah Nasrawi in Cairo contributed to this report.

Copyright 2007 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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