Thread: Iraq/Dinar News. 09/05 to 01/14/07

Originally Posted by ccgideon

A few days ago, someone wanted to know what SDR meant. I found this on the IMF and thought someone might enjoy knowing more about the SDR. Sorry it's a little long.

The Special Drawing Right (SDR) was created by the IMF in 1969 to support the Bretton Woods fixed exchange rate system. A country participating in this system needed official reserves—government or central bank holdings of gold and widely accepted foreign currencies—that could be used to purchase the domestic currency in world foreign exchange markets, as required to maintain its exchange rate. But the international supply of two key reserve assets— gold and the U.S. dollar—proved inadequate for supporting the expansion of world trade and financial development that was taking place. Therefore, the international community decided to create a new international reserve asset under the auspices of the IMF.

However, only a few years later, the Bretton Woods system collapsed and the major currencies shifted to a floating exchange rate regime. In addition, the growth in international capital markets facilitated borrowing by creditworthy governments. Both of these developments lessened the need for SDRs.

Today, the SDR has only limited use as a reserve asset, and its main function is to serve as theunit of account of the IMF and some other international organizations. The SDR is neither a currency, nor a claim on the IMF. Rather, it is a potential claim on the freely usable currencies of IMF members. Holders of SDRs can obtain these currencies in exchange for their SDRs in two ways: first, through the arrangement of voluntary exchanges between members; and second, by the IMF designating members with strong external positions to purchase SDRs from members with weak external positions.

SDR valuation
The value of the SDR was initially defined as equivalent to 0.888671 grams of fine gold—which, at the time, was also equivalent to one U.S. dollar. After the collapse of the Bretton Woods system in 1973, however, the SDR was redefined as a basket of currencies,today consisting of the euro, Japanese yen, pound sterling, and U.S. dollar. The U.S. dollar-value of the SDR is posted daily on the IMF's website. It is calculated as the sum of specific amounts of the four currencies valued in U.S. dollars, on the basis of exchange rates quoted at noon each day in the London market.

The basket composition is reviewed every five years to ensure that it reflects the relative importance of currencies in the world's trading and financial systems. In the most recent review that took place in November 2005, the weights of the currencies in the SDR basket were revised based on the value of the exports of goods and services and the amount of reserves denominated in the respective currencies which were held by other members of the IMF. These changes became effective on January 1, 2006. The next review by the Executive Board will take place in late 2010.

The SDR interest rate
The SDR interest rate provides the basis for calculating the interest charged to members on regular (non-concessional) IMF loans, the interest paid and charged to members on their SDR holdings, and the interest paid to members on a portion of their quota subscriptions. The SDR interest rate is determined weekly and is based on a weighted average of representative interest rates on short-term debt in the money markets of the SDR basket currencies.

SDR allocations
Under its Articles of Agreement, the IMF may allocate SDRs to members in proportion to their IMF quotas. Such an allocation provides each member with a costless asset on which interest is neither earned nor paid. However, if a member's SDR holdings rise above its allocation, it earns interest on the excess; conversely, if it holds fewer SDRs than allocated, it pays interest on the shortfall. The Articles of Agreement also allow for cancellations of SDRs, but this provision has never been used. The IMF cannot allocate SDRs to itself.

There are two kinds of allocations:

General allocations of SDRs have to be based on a long-term global need to supplement existing reserve assets. General allocations are considered every five years, although decisions to allocate SDRs have been made only twice. The first allocation was for a total amount of SDR 9.3 billion, distributed in 1970-72. The second allocation was distributed in 1979-81 and brought the cumulative total of SDR allocations to SDR 21.4 billion.

A proposal for a special one-time allocation of SDRs was approved by the IMF's Board of Governors in September 1997 through the proposed Fourth Amendment of the Articles of Agreement. This allocation would double cumulative SDR allocations to SDR 42.8 billion. Its intent is to enable all members of the IMF to participate in the SDR system on an equitable basis and correct for the fact that countries that joined the Fund subsequent to 1981—more than one fifth of the current IMF membership—have never received an SDR allocation. The Fourth Amendment will become effective when three fifths of the IMF membership (111 members) with 85 percent of the total voting power accept it. As of end-August, 2006, 131 members with 77.3 percent of total voting power had accepted the proposed amendment. Approval by the United States, with 17.1 percent of total votes, would put the amendment into effect.

Originally Posted by shotgunsusie

so, in order for new countries affixing their currency to the sdr we are a go as soon as the usd puts the amendment into effect. IF THEY HAVENT ALREADY!

this calls for a DOUBLE!!
woOt woOt!!!!!!!!!!!!!!!!

I know you broke this down in a earlier post. If you want to use it again that is fine. But I need a hard lesson here. I am lost with this. I need to understand it. Where the US will put what into effect. Thanks ahead. Tennis shoe country boy. Needs a Lesson

(Voice of Iraq) - 10-17-2006 | This issue was sent to a friend

Iraqi MPs downplay the importance of the decision to defer the reconciliation III
Baghdad : Al-Salem Al-Rahma
No decisions aids national reconciliation conferences held recently (a clan and civil society institutions) Iraqi street has not changed the situation bad witnessed the Iraqi capital, Baghdad, but aggravated the situation by the political differences between the blocs and political parties which are floating on the Iraqi arena in a T. threatened with all the bids put forward by the Iraqi government headed by Iraqi Prime Minister Nuri al-Maliki. The day before yesterday was the decision to defer the reconciliation conference which was scheduled to be held next Saturday. Unadim Kana, a member of the supreme body of national reconciliation, He told the Middle East «» «the postponement of the date on which basis was determined (October 21 current) not determined by the supreme body of reconciliation, but was taken above history, which we have not had sufficient time to prepare the requirements of the Conference», He pointed out that «the ten days during which he can not engage in dialogue with our brothers in the political blocs and parties participating in the conference and even the opposition, we were not able to contact them and determine the date and form required by the conference was postponed to give enough time for dialogue, discussion and communication between the two».
For his part, Salim Abdullah member of the Legal and Constitutional Committee in the Iraqi Parliament, «concern that the political blocs with the Mecca addition to a number of side events, and deal with emergency situations are all evacuated from the conference on schedule». And about the usefulness of these conferences, he said that there «dialogue between political figures must declare intentions and the focus in the reform of the situation the country is witnessing». He continued, «the Iraqi street must see the results of these agreements and we hope that the Iraqi citizens that fit the status quo now». He added : «there is a desire among the political forces to hold meetings continuously, and recently started talking about successful mechanisms to assess the situation As for the conference which was held and that will be set up, despite the fact that this (conference) is weak and without ambition can not be dispensed with, the problem lies in the implications of the political problems that are reflected in the Iraqi street »pointing out that« there is a set of controversial topics never put solutions example, the issue of disbanding believe that the government seeks to disband militias, but on the other hand we have not seen any behavior from the government to put an end to this particular issue and it (the militia v) a major role in the deteriorating security situation and become acting independently and orderly ». So, he said Harith al-Ubaydi, a member Accord Front, l «» Middle East that «each of these conferences, both held in the past or which will be held in the coming days, is intended primarily to bridge the gap in viewpoints between the blocs and parties», He pointed out that «if it did not do the decisions of these conferences on the ground and in the field have no value, We spoke with members of Parliament the importance of forming committees to activate the decisions and events that result from the conference, including any amendments thereto, it is not the value of any of the decisions of any conference held especially with regard to security in the hot spots ».

He said Mufeed al-Jazairi, a member bloc (Iraqi), The establishment of these conferences fall within the framework of the project of national reconciliation and have specific tasks and duties in order to create the appropriate atmosphere to reach the goal and purpose of the draft reconciliation ». He continued, «this project (reconciliation) with his opponents, there is fear of attempted in the end, success and failure obstruct steps devised It is clear that they have succeeded in impeding reconciliation, Now it depends on the government to intensify efforts to implement this project to make further efforts in working to achieve good ». Regarding the security situation deteriorating, which hampers reconciliation draft said the Algerian told the Middle East «» «This does not mean that the surrender of efforts to thwart reconciliation and make Iraq the blood must continue the search for solutions». Regarding the role of the government «The government finds it difficult to surrender to the difficulties and make efforts to resolve all issues which invests skeptics in the process of reconciliation must invest these initiatives and activation of the effort required of all».


Sotaliraq.com

Iraqi Vice-President to visit Jordan today

(Voice of Iraq) - 10-17-2006 | This issue was sent to a friend

A Amman. P. B : The spokesman for the Jordanian government Nasser quality yesterday that Iraqi Vice President Tariq Hashemi (Sunni), will visit Jordan today to consult «» in the various issues that concern the two countries. He said the quality in a press conference that the visit comes within the continuous consultation «(between the two countries) in various issues». «The quality of Jordan's support for the Iraqi government and draft reconciliation and support every effort to maintain the unity of Iraq, its security and stability». In response to a question about the Sunni militia led by Al Qaeda on the establishment of the State of Iraq, he said the quality of «We support the existing central government now in Iraq».

Middle East

Sotaliraq.com

(Voice of Iraq) - 10-17-2006 | This issue was sent to a friend

Iraqi Prime Minister constituted a committee to reform security services

Maliki : we need a few months to start disarming militias


BAGHDAD : «» Middle East
Announced yesterday that Iraqi Prime Minister Nuri al-Maliki formed a ministerial committee to reform «» flaw in the security «», to remove the corrupt them.
On the other hand, Al-Maliki said that he needed to have several months to start disarming the militias, which says American officials «» greatest threat to the security of his country.

The television station quoted Iraqi government on Al-Maliki as saying : «requested the formation of a joint committee from the security ministries and all ministries involved in the Ministerial Committee for National Security, Its task is to review these ministries in order to reform what we can points to the flaw by workers and security men and the army to carry out duties on a background of the people and loyalty to the homeland and only loyalty to the mission and professionalism, which are not included in the accounts of political sensitivities, or sectarian ».

He added that Al-Maliki «audit to be conducted for the security ministries. Defense and the Interior and the Intelligence and National Security. Aimed at achieving three axes : the first review of the structure of the Ministry, Second reading of the problems faced by ministries and the third point is the treatment and rehabilitation of these ministries ».

It quoted German news agency (DPA) for Iraqi Prime Minister saying we will work to purge «« security ministries of corrupt elements. Not having enough loyalty to the tasks entrusted to it », He pointed out that these steps will pave the «and will lay the foundations for a strong and genuine security ministries perform its task against the backdrop of loyalty to the nation and loyalty to the task of security which we are».

So, Al-Maliki said in an interview with the newspaper «USA Today» yesterday that he had formed a committee to review politically and militarily in order to isolate and confront the militias, but it will take time, he said.

He added that «the first time has been taken to resolve the militias was the end of this year or the beginning of next year (...) But there are obstacles facing the issue is the procedures and steps must be taken and they need time ».

Talk Maliki comes at a time of growing frustration of American officials who exhort the government to take decisive steps to disarm the militias. The French Press Agency reported the Prime Minister as saying the Iraqi «told the Americans that have no objection to target cells Mahdi Army elements inside of Sadr City. But the manner contemplated by the multinational forces confront this issue will destroy the entire city », confirming that it is absolutely unacceptable «».

The plans also criticized American forces for counter-insurgency operations in Iraq during the past three and a half years, especially around the poor performance of the Iraqi forces. He went on to say that «the problem we face is how we formed whereby the security forces and the army and police by the Coalition Provisional Authority» during the American civil administrator Paul Bremer. He stressed that al-Maliki «Iraqi forces were formed at random, which weakened, and it penetrates by militias». Bremer noted that a structural military of the former regime, and started to build new security forces amid the escalation of the insurgency.

And often accuses the Iraqi security forces, particularly the police in cooperation with the sectarian militias also recognizes that the Americans rushed in the process of building the security forces through the integration of entire units of the militia ranks. Al-Maliki said that the phenomenon of «cooperation with the militias exist in the Ministry of the Interior and to a lesser extent in the Ministry of Defense (...) Not a question of investigation. This is no surprise to anyone, and people know that ».

He added : «We are still paying for the mistakes of the multinational forces had constructed the Ministries of the Interior and Defense randomly, According to the theories wrong ». Al-Maliki and described the American strategy in the fight against militias and rebel groups such as Al Qaeda b «» wrong way. He said that «terrorism, especially the militias can not be dealt with the use of tanks and sophisticated weapons and aircraft only needs security cells collect information and sneak into areas where active».


Sotaliraq.com

With all this talk of exchange rates I just went to ADFN.com

They show:

EURIQD Current:1841.300, Bid 1480.800, Offer 1481.800
USDIQD Current:1469.600, Bid 1469.200, Offer 1470.00
USDIQN Current:1465.000, Bid 1465.000

USDIQD= Us Dollar vs Iraqi Dinar Spot
USDIQN= Us Dollar vs NEW Iraqi Dinar Spot

Just curious what the difference is between the IQD and IQN

Either way, its good to see them both UNDER 1470

Lets get this done before the sands of time run out

Fighting Corruption in Iraq strengthens democracy

October 16, 2006

Enlightened nations take it upon themselves to fight against corruption and do
not wait for initiatives from politicians or government officials.

Taiwan, for example, is witnessing since several weeks ago a popular campaign
against widespread corruption. The campaign does not only aim at punishing
corrupt officials, but at protecting democracy as well through calling
politicians to account for their actions.

Wai Jink Shing, a Chinese activist, says in the field of human rights, democracy
and fighting against corruption in an article recently published in the
newspaper" International Herald Tribune" that the citizens of Taiwan now,
realize that the principles of formal democracy represented in the periodic
competitive elections and the rule of law must be safeguarded and promoted by
what he calls "effective democratic education", making citizens aware that
without it, democracy will be at risk of collapse and recession.

Taiwan Activists have managed to make the issue of reform and calling to
account, in the framework of fighting against corruption, a popular demand which
managed to unite the two main political parties in the country: Blue camp which
calls for unity with China and Green camp which calls for independence.

The Chinese activist says that higher campaigns against corruption, which comes
from the highest political hierarchy is not more than chopping the wings and
branches of corruption, without accessing its roots, which means that these
branches will resume growth again.

Therefore, fighting against corruption should be radical and not reformed,
popular and not formal. It must head for the roots and not only the branches,
through varied social and popular activities where the citizens participate
effectively in it, and this can not be achieved without effective democratic
education.(Source)AlSabah

Translated version of http://www.alsabaah.com/
A document of bloodshed signed officials and clergymen near Kaaba

Al-Maliki up to Ankara today was to leave Saudi Arabia
Mecca-Baghdad-Sabah
Prime Minister Nuri al-Maliki to Ankara today, where he is likely to leave to Mecca, after two days of the signing of the document of the Iraqi Mecca on the 20th of October 1st of this month. The deputy said Hassan Al-Sunaid : Mr. Maliki will spend one day in Ankara pointing out that a large delegation including a number of ministers and members of parliament and politicians will accompany Maliki to hold talks with Turkish officials. on economic issues, security issues like energy and oil.

Maliki : epic vote showed the depth of our faith in the democratic process
In a speech to mark the first anniversary of the referendum on the Constitution
Baghdad-Sabah
Prime Minister Nuri al-Maliki : that epic vote on the constitution showed the depth of our faith in the democratic process and its firm determination to get rid of the policy of marginalization and exclusion of the other, It is the policy adopted by the rules of the Principles and pushed the country into war, and being reckless adventures in the blood of hundreds of thousands of our sons and Iraq has tens of years back.

A judicial source : Dejeil case will be held today

The court would set a date for sentencing
Baghdad morning
Head of the prosecution in the High Criminal Court yesterday, Sunday, that the court hearing in the case of Al will not hold its scheduled today, Monday, and would make a statement specifying the date of sentencing. The head of the Al-court judge Rauf Rashid had decided in July 27 last postponement of the proceedings in the case where the defendant is blocking a mother and seven of his aides to today, Monday, October 16,

Alzobai told (morning) : important decisions soon and punish those involved acts of murder, deportation

The political council of national security in an open meeting
Baghdad-Sabah
Keep Political Council for National Security in the case of the ongoing search for solutions important issues in the Iraqi arena, while A source close to the government meetings that the important decisions regarding changes in the Ministries of Defense and Interior, to find a radical solution to the problem of forced displacement will be soon.

Education announced today the results of acceptance Central

Baghdad Reli sure
The Ministry of Higher Education and Scientific Research, today, Monday, the results of the Central acceptance in universities and the Technical Education for the academic year 2006 2007. With informed sources pointed out that the least total of admission to the colleges "420" and below will be accepted in technical institutes.

Interior : change leaders formations within the next two days

Major General Hussein Awadi, a leader of the National Police
Baghdad-Sabah
The Interior Ministry said that the changes in the leadership positions of the ministry will be completed within the next two days and will include a number of leaders of formations and the cancellation of seminars excess of affiliated institutions and the integration of the other.

About three million barrels per day production rate from the fields of North and South

Shahrastani visitors to visit Australia, China, Japan
Baghdad-Tariq Al-Araji
Rates of Iraqi crude oil production to two million, (850) thousand barrels of oil fields of North and South rates and energy export daily for the month of September and six hundred million dollars and twenty thousand barrels. It has three international companies willing to directly in the work of building a refinery Koya in the northern region, which at a cost of more than (700) million

The Minister of Health will work to ensure the availability of medicines and medical examination devices

In a dialogue with the (morning)
Baghdad-Saadi deer
The Minister of Health, Dr Ali al-Shamri intention of the ministry during the remaining months of this year to eliminate Mshketi shortage of medicine and the reform of the medical examination, they were marking the most negative aspects in the ministry and the work is underway to overcome between Shamari said that the Ministry of Health and Ministry of service and condemns all acts of terrorism emanating from any health institution and that the ministry does not hesitate to punish anyone who misuses of these institutions

The majority supports the departure of the American forces and the divergence of views on the readiness of Iraqi forces

In a poll conducted by "morning" in Karbala
Karbala morning
An opinion poll conducted by "morning" in the city of Karbala on the American military presence in Iraq believes that the majority of these forces is "occupied" and it is the responsibility of the events of the violent events in the country and that their existence remains open to "civil war". With endorsed the American forces will stay low percentage of those surveyed.

Police Commander Maysan pays tribute to the role of agencies in the maintenance of security and stability in the province

Emphasized its willingness and readiness to take over the security file
Architecture-Saad Hasan
The commander of police forces Maysan Major General Ismail Kazem Arar Almajdi that police agencies across departmental filed within the center and the districts and their conservation work to restore the security in the province through the security plans implemented.

Translated version of http://www.alsabaah.com/

Minister of Planning Dr. Baban.
Moved by the rising inflation raises concern
Baghdad Haider spring
Papan stressed Dr. Ali, Minister of Planning and Development Cooperation on the importance of activating the wheel of the productive sectors in Iraq and work to improve their performance to reduce the phenomenon of inflation, which are not in my line of high concern to many of the decision-makers as well as become the burden of the citizens. The Papan during his lecture at the symposium, which was brought by the Iraqi Center for Economic Reform from inflation.

Wasit preparing to receive fuel shipments Iranian

Kut morning
Iranian resume oil shipments imported by the Ministry of Oil entering Iraq after a short stopover because of actions described as / / art / / from the Iranian side. He hailed the mourning member of the Wasit governorate official media committee included : "The Iraqi border outlets in Wasit governorate receives daily 96 tons of kerosene across the border outlet Badrah 85 km east of Kut."

Bottling plant dates in Dhi Qar supervision of Italian

Nasiriyah morning
A source in the center of Dhi Qar marshes University : "The canning factory dates to be opened shortly in the Alsdenawih, the south-west of Nasiriyah, the roads will be advanced in the production of canned dates. " He added : "The factory, which is administered by the University of Florence Italian comes in the framework of the contribution of the Italian government to support the economic infrastructure in the province."

Minister of Electricity calls to increase cooperation with China

Baghdad morning
The Minister of Electricity to increase the volume of cooperation and coordination between the ministries of electricity in Iraq and the People's Republic of China. A statement released by the Ministry of Electricity : "The Karim Wahid, Minister of Electricity met with a delegation from the Chinese embassy included Tan Banfelin political advisor and 659/1967 you Loro economic advisor, commercial and Zank Tour of the Political Section at the embassy."

Economic management in Iraq
Hilal Ta *
* The Ministry of Finance
Marked economic governance in Iraq was arbitrary and improvisation and speed of decision-making without prior study, as well as the depth that the individual decisions that was prevalent in the economic decision of any Iraqi can say that no one indicator indicates that the Iraqi administration was proper level for the reasons we careful uh, which negatively impacted

Iraqi carpets. Industry famous, but few production

Prices between the tides
Baghdad-Imad Principality
Famous Iraq some craft industries, which no longer met the needs of Iraqi consumers, including carpets quality manual and mechanical, With the imminent season, the use of these commodities, we find that the market faces problems related to carpets sharp slowdown in sales.

Contradictions between investment and aspirations

Faris Rashid
Chapter II (an investment)
Allocated draft law on investment in six consecutive materials and various paragraphs of the investment, which will bear the responsibility of promoting and attracting investments. For this purpose, it rose draft ceiling constituency concerned to the Mtaatha personality and moral identity, headquarters, the allocation of Mali, indivisibility of the contract and exercise activities, shoulder the responsibility of civil, penal and legal prosecution.

Again. Iraqis are leading investment in Jordan

Amman-Abdul Jabbar al-Azzawi
A statistical report issued by the Control Service Jordanian companies on the list issued Iraqis investors in the Jordanian companies registered in the control of the companies since the beginning of this year, hitting 83,7 million dinars compared with 79,4 for the same period last year. while the contribution of partners Kuwaitis sharply, which amounted to 27,7 million dinars.

Investment between the contradictions, and aspirations-1 -
(A legal point of view)
D. Faris Rashid
Rumors are rife recently on the draft law on investment hoped approval of the House of Representatives and the importance of the exit Iraq from suffocating economic crisis it is going through. , as well as to feel the law of jobs to absorb the unemployed, the way to see the rest of Iraq in terms of modern techniques and sophisticated CST ....

In Maysan network Almbazl reclamation projects and the development of health institutions
Maysan morning
Construction Supreme Council allocated the amount of seven billion dinars for the implementation of a number of development projects for the installations and health institutions at the center of the city of Amarah. He said Engineer Mohan Mahe Chairman of the reconstruction and development in the Maysan Governorate : (The projects include the development and expansion of Building ambulance immediate President

http://www.rolclub.com/iraqi-dinar-d...d-paynes1.html

Got a Thread for it so it want corupt the News thread. It sounds Interesting. All comments there please.

Originally Posted by Adster

Wow, can really sense a 'downer' in here today.


Iraqi Oil Min To Visit China, Japan, Australia - Official
Iraq's Oil Minister Hussein al-Shahristani will leave Baghdad Monday on a tour that will take him to China, Japan and Australia, the Ministry said in a statement Sunday.

He is not just going to spin a story about oil. He’ll want to come back with some big promises of multimillion dollar contracts. The HCL and FIL would HAVE to be ENACTED before Iraqi's oil minister goes to Asia IMHO. He is not going to waste HIS time nor will the ministers in the Asian countries waste THEIR time with idle talk. Have they secretly enacted the HCL and FIL?????