Thread: Iraq/Dinar News Until 5/31/2007 7:15 PM CST..

Originally Posted by rvalreadydang

المركزيThe insistence to continue the monetary policy of the Central Bank
25/05/2007Business and Economy-25/05/2007








قال.He said the Iraqi Central Bank Governor Sinan Al-Shabibi that the goal of monetary policy is to achieve price stability and be done by enhancing the effectiveness of the work of all sectors in order to meet the social needs of goods and services, and explained that the Central Bank is issuing new currency and did not want to fall, and there are important economic implications behind the monetary policy, especially at the level of stability in Iraq economically. NEW NOTES???

و .Shabibi and pointed to inflation, which rose to record rates in past years have witnessed relatively stable in this year amounting to 45%, and the Central Bank has succeeded in forming a high cash reserve amounted to 21 billion dollars. he is a good sum could in turn contribute to the creation of a stability reassuring.

و .And statements come in light of the opposition expressed by the broad economic circles, particularly in the private sector, as well as experts and spe******ts about the tight monetary policy, and tried to prevent the activation and revitalize economic sectors because of raising interest rates to more than 23%. and the rate is unprecedented in any nation at the regional and global levels, The inflation indices to be calculated incorrectly, so that the results seem positive formality while inflation rises in practice as prices remained volatile for the major commodity groups involved in the account.




المصدر : الملف برس - الكاتب: الملف برسSource : file-Presse writer : file Press

اصرار على مواصلة السياسة النقدية للبنك المركزي

Is he talking about lower denoms??? Notice he doesn't say replacing currency he says issuing, it has to be the lower denoms!!

God i hope he is talking about smaller denoms if he is talking present tense and not talking past tense as in what the did several years ago when they came out with the new dinar that we all are holding now !!

Originally Posted by jedi17

Just to clarify, is this your opinion on the article, or are you saying that you have a better translated article.

I know arabic fluently, so I see the that the google translation was not right, he was not speaking about new notes, he is saying that the CBI is the issuer of the new notes and that it is it's responsibility to keep it's price at higher levels, so they won't allow it to drop.

Hope this may help

Originally Posted by rvalreadydang

???????The insistence to continue the monetary policy of the Central Bank
25/05/2007Business and Economy-25/05/2007

???.He said the Iraqi Central Bank Governor Sinan Al-Shabibi that the goal of monetary policy is to achieve price stability and be done by enhancing the effectiveness of the work of all sectors in order to meet the social needs of goods and services, and explained that the Central Bank is issuing new currency and did not want to fall, and there are important economic implications behind the monetary policy, especially at the level of stability in Iraq economically. NEW NOTES???

? .Shabibi and pointed to inflation, which rose to record rates in past years have witnessed relatively stable in this year amounting to 45%, and the Central Bank has succeeded in forming a high cash reserve amounted to 21 billion dollars. he is a good sum could in turn contribute to the creation of a stability reassuring.

? .And statements come in light of the opposition expressed by the broad economic circles, particularly in the private sector, as well as experts and spe******ts about the tight monetary policy, and tried to prevent the activation and revitalize economic sectors because of raising interest rates to more than 23%. and the rate is unprecedented in any nation at the regional and global levels, The inflation indices to be calculated incorrectly, so that the results seem positive formality while inflation rises in practice as prices remained volatile for the major commodity groups involved in the account.
Source : file-Presse writer : file Press

اصرار على مواصلة السياسة النقدية للبنك المركزي

Is he talking about lower denoms??? Notice he doesn't say replacing currency he says issuing, it has to be the lower denoms!!

One word - WOW - Can we get someone with boots on the ground to confirm this? RR perhaps?

Originally Posted by H2O_Lover

God i hope he is talking about smaller denoms if he is talking present tense and not talking past tense as in what the did several years ago when they came out with the new dinar that we all are holding now !!

Sorry for saying this but actually he is talking past tense

Originally Posted by HyiperOne

Sorry for saying this but actually he is talking past tense

Central Bank is issuing new currency and did not want to fall, and there are important economic implications behind the monetary policy,

How is this past tense?

Iraq applied for membership almost three years ago, and a WTO negotiating group was established in December 2004. Membership is not expected for years to come.

Iraq aims for membership in WTO - Yahoo! News

Originally Posted by HyiperOne

Sorry for saying this but actually he is talking past tense

hmmmm........ not sure why the article is in print then as we know what the central banks job is.

Deadline looms on unsettled oil issue
By Sharon Behn
THE WASHINGTON TIMES
May 25, 2007

Iraq's proposed oil law, a key U.S. benchmark for political progress, remains in sharp dispute one week before the government's self-imposed deadline for passage, and some say it could create more divisions in the fractured country.

"In general, it is a step forward for the Iraqi political process," said Yahia Said, a London-based analyst with the Revenue Watch Institute who has been closely involved in talks on the draft law.
But Mr. Said and others caution that even if the measure is enacted this summer, Iraq lacks the institutional capability to implement it.
"The design of the law is one thing and implementation is another. There are constraints of capacity," he said in a telephone interview from London.
"A lot more will depend on implementation and the structures established to implement the law. This is one of the weakest elements," he said.

The law, running 33 pages in its third and current draft, lays out terms for the control and management of Iraq's oil fields, with the goal of boosting production and revenues for the benefit of all Iraqis.

The Bush administration has pressed hard for passage in the hope that sectarian tensions fueling the violence in Iraq can be eased by ensuring that Sunnis, Shi'ites and Kurds will benefit fairly from the oil wealth.
But with negotiators rapidly approaching a deadline on Thursday, the factions remain deeply divided on the sharing of revenues, the extent of the role of international companies in the development of fields and the scope of a national oil company.

All the parties agree that Iraq needs outside capital and expertise to develop the potential of its oil fields.
Kate Dourian, a Dubai-based analyst for the oil industry publication Platt's, said the draft law appears to be deliberately vague about the terms that will be offered to foreign companies.
"At the end of the day, unless you have security and stability, it really doesn't matter -- people are not going to come in," she said in a telephone interview from Dubai, United Arab Emirates.

Oil executives, who refused to talk on the record given the sensitivity of the talks in Baghdad, said the negotiations are more about the political future of Iraq than oil.

Although Iraqi leaders are under an armistice on the law's central provisions for production and exploration, a feud has broken out over three appendixes that control revenue-sharing and the creation of a strong national oil company.

The Kurds, whose autonomous region in the north contains large oil fields, are pushing for a more pro-investment law that would encourage production-sharing agreements, a revenue-sharing plan that would benefit oil-rich regions and greater regional control over reserves.

They also are worried that the plan to allow a future Iraqi National Oil Co. (INOC) to control 93 percent of Iraq's oil reserves would create a "state within a state."

"We are concerned, as the Kurdistan Regional Government, about an overly powerful national oil company, especially given the fact that we don't have in place the necessary checks and balances," said Qubad Talabany, the Kurdistan Regional Government's Washington representative.
"We have to be diligent on this and understand that oil, if managed well, could be a unifier. But if not managed well, it could further polarize the country," he said.

The Shi'ites, who hold the majority in the south where Iraq's other large oil fields are located and currently control the government, want a more restrictive investment law and greater centralized authority over reserves and revenue.

According to Platt's, Iraqi oil production is lolling at just over 2 million barrels per day, well below the 2.8 million barrels per day produced in Iraq in the months before the war began in March 2003.

Greater regional control over reserves and revenues could provide the basis for a de-facto partitioning of the country, said one former official in the Iraqi Oil Ministry.

"The ones who will benefit are the local mafiosi and the separatist political leaders, whether they are the leaders of the Shi'ite religious parties or the Kurdistan separatist parties," said Falleh al-Hayat, director general of planning at the Ministry of Oil in 2004.

Even if the oil issue is settled, warned one Iraqi engineer who advises international companies looking to invest in Iraq, squabbles over the supply of electricity and water to the oil industry are inevitable.

Deadline looms on unsettled oil issue - World - The Washington Times, America's Newspaper

Originally Posted by DontDenyDatDinar

Iraq applied for membership almost three years ago, and a WTO negotiating group was established in December 2004. Membership is not expected for years to come.

Iraq aims for membership in WTO - Yahoo! News

sure was thinking sooner than years to come ...

to quote:

Even if the oil issue is settled, warned one Iraqi engineer who advises international companies looking to invest in Iraq, squabbles over the supply of electricity and water to the oil industry are inevitable.

portable generators could be flown in for power initially.
As far as water, I'm not sure what they would need it for. Some equipment have cooling systems, like your car's radiator. But normally water is a by-product of oil production.