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

Seen this before, but excellent news. China are a major player.....


Iraq, Chinato revive $1.2 billion

China and Iraq are reviving a $1.2 billion deal signed by Beijing and Saddam Hussein's government in 1997 to develop an Iraqi oil field, Baghdad's oil minister said Saturday.

Originally Posted by CharmedPiper

(Voice of Iraq) - 10-31-2006
This issue was sent to a friend

A statement issued by the Office of Maliki that Iraqi Prime Minister gave orders to remove all barriers and inspection points for the opening of the road and facilitate traffic in Sadr City and other areas in Baghdad.

He said the American, Lieutenant Colonel Christopher Garver, told Reuters that he did not know these orders.

This was just reported several minutes ago on Yahoo news....

21 minutes ago.

BAGHDAD, Iraq - Prime Minister Nouri al-Maliki on Tuesday ordered the lifting of joint U.S.-Iraqi military checkpoints around the Shiite militant stronghold of Sadr City — another apparent move to assert his authority with the Americans and appeal to his Shiite support base.
All barricades and checkpoints around Sadr City and elsewhere in Baghdad must be lifted by 5:00 p.m., al-Maliki said in an order issued in his capacity both as prime minister and commander of the Iraqi armed forces.

"These measures should not be taken except during nighttime curfew hours and emergencies," the order said.

"Joint efforts continue to pursue terrorists and outlaws who expose the lives of citizens to killings, abductions and explosions," it said.

The extra checkpoints were set up last week as U.S. troops launched an intensive search for a missing soldier and raided homes in search of death squad leaders who shelter in the sprawling slum that is home to an overwhelmingly Shiite population of 2.5 million people.

AMMAN, 31 October 2006 (AFP)

An Iraqi government delegation held reconciliation talks in Jordan on Monday with exiled Iraqi politicians and community leaders, the Iraqi ambassador said. "A delegation of Iraq's [government] national reconciliation program is currently in Amman and has already held talks with Iraqi figures at the embassy yesterday [Sunday]," Ambassador Saad Jassem al-Hayani said, adding that talks continued Monday.

Iraq's embattled government postponed earlier this month a conference for the country's political parties, amid deadly violence between rival armed factions.

The conference due to take place October 21 was postponed until further notice.

The conference had been seen as part of preparations for a long-awaited National Reconciliation Conference, which the Cairo-based Arab League has been trying to convene.

Meanwhile Jordan's independent Al-Ghad newspaper reported Monday that talks have been under way in Amman between representatives of Iraq's insurgency and US officials.

The newspaper, quoting "informed Iraqi sources," said "representatives of factions of the Iraqi resistance and opponents of the Iraqi government and the US occupation forces have begun contacts in Amman" on Saturday.

"The aim of this dialogue, if it succeeds, is to push forward the political process in Iraq," one of the sources told Al-Ghad.

Iraqi delegation visits exiled leaders in Jordan | Iraq Updates

Originally Posted by YogiBrood

This was just reported several minutes ago on Yahoo news....

:Looks like today could be the day Yogi....!!!

Originally Posted by Adster

Seen this before, but excellent news. China are a major player.....


Iraq, Chinato revive $1.2 billion

China and Iraq are reviving a $1.2 billion deal signed by Beijing and Saddam Hussein's government in 1997 to develop an Iraqi oil field, Baghdad's oil minister said Saturday.

Full article:

BEIJING, 31 October 2006 (AFX News Limited)

China National Petroleum Corp is expected to obtain new exploration rights to the al-Ahdab oilfield in Iraq, the official Shanghai Securities News reported, citing CNPC sources.

After China won exploration rights to al-Ahdab in 1997, activities at the field were suspended due to UN sanctions on Iraq and postwar security problems.

The report said Iraqi oil minister Hussain al-Shahristani, during a visit to China, called on Oct 28 for negotiations for a new contract beginning November.

The field, in the middle and southern regions of Iraq, has a projected reserves of up to one bln barrels, the report said.

"Exploring al-Ahdab oil field is commercially profitable due to its proximity to oil pipelines and refiners," one of the sources was quoted as saying.

China signed a contract to explore al-Ahdab in June 1997 with the deal valued at 700 mln usd over 23 years. Planned oil production was 90,000 barrels per day.

The Iraqi minister also held talks with Sinopec Group and CNOOC during his visit, promoting more energy investment in Iraq following the projected approval of the new Iraqi energy investment law before the end of the year, the report said.

China seen regaining exploration rights to Iraq's al-Ahdab oilfield | Iraq Updates

Isn't the Market usally open at this time?

Baghdad Time: 02:37pm, 10/31/2006 ~ market is closed | $1 USD = 1469.63 IQD ^

31 October 2006 (Al-Sabaah)

The Ministry of Contacts and Communications is determined to implement an important strategic project to connect Kurdistan region with other country's region, through extending the fiber optical cable to Sulaminya via Kirkuk province.

The senior Eng. Adel Abdullah, the Director of Communications and Kirkuk Post stated to as-Sabah newspaper that the ministry had agreed on optic cable lines project between Kirkuk and Sulaminya provinces with 2006 development plan.

Project to connect Kurdistan region, provinces by fiber optic | Iraq Updates

Originally Posted by neno

Isn't the Market usally open at this time?

Baghdad Time: 02:37pm, 10/31/2006 ~ market is closed | $1 USD = 1469.63 IQD ^

Oh Neno...could be very interesting today...feel the excitement in the air!!!

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

Interview : Jalal al
The functions of fiscal and monetary policy in the new Iraq. work to reduce inflation without damage or negative impacts on the citizens and economy. But what happened is that the citizen surprised steady rise in inflation rates, unprecedented in Iraq and the region.

These policies and stood unable to curb the escalation and reduction. " Morning, "she discusses experts and officials fiscal and monetary policies and planning in Iraq on the practical means to stop this escalation and is working towards a gradual reduction of inflation.
D. The Ghalib Baban / Minister of Planning and Development Cooperation
We can deal with inflation only a comprehensive reform of the economy
* Inflation is present in all the economies of nations, the enemy is the well-being and prosperity. and we consider to be an indicator of economic dislocation in the country. It gives a full picture of the economy and levels.
The Ministry of Planning, I rise in the rate of inflation to 69%, and this percentage higher than other years, At the same time Antogaa of credit policy can play a role in mitigation. Also policies can the Iraqi Central Bank to raise interest rates to reduce it, Conversely, the productivity of individual Iraqi Mitrajahoutattabr unemployment of the main reasons for inflation, as they hit rate of 35 to 45% in the Iraqi society. a large proportion of the community is facing the problem of inflation. Monetary policy to offer any radical solution, , which would deal with inflation. All these factors led to the rise in inflation rates in Iraq and the weakness of the productive sectors, and it can only deal with inflation reform of the economy in general.
D. The Skinner / government spokesman
The state is determined to develop plans to contain inflation and high prices
Inflation big problem, and have branches overlapping political, social, It affects directly in the daily life of the people, and, therefore, it draws feelings of the tasks of fiscal and monetary policy in the new Iraq. work to reduce inflation without damage or negative impacts on the citizens and economy. But what happened is that the citizen surprised steady rise in inflation rates, unprecedented in Iraq and the region.
. People direction of discontent and demand by the fast may not be available, or can not be provided in the near term unless other objective elements such as security and increase the effectiveness of the Iraqi economic sectors such as industry, agriculture and services, The possibility of implementing projects Strtejeh may contribute to solving the problems of unemployment and poverty, and attracting foreign capital to work and invest in Iraq. all these elements can be in solidarity to limit runaway inflation, but that can make it Eroah at levels low so as not to negatively affect the lives of citizens and the mobility of society towards economic construction and reconstruction.
For that we need at this stage to further efforts through scientific conferences, symposia and research to study this phenomenon, frameworks and strengthen cooperation between the scientific institutions concerned, such as universities, research centers, civil society organizations, and between the institutions of the State, which has a responsibility to search for solutions and treatments. Because of the scientific conferences and symposiums to discuss the pressing economic issues (including inflation) to make available all relevant data and statistics, which are often derived from reality, including contribute to the development Stratijiat deal with the problem, which can be translated through cooperation, and continuous consultation between frameworks such as universities and scientific research centers and operational frameworks such as the Iraqi Central and other economic institutions and mechanisms Mikanzmat enable the state and society to develop solutions and approaches to reality j.
The state is determined to develop plans and strategies which they can contain the problem of inflation and high prices. and the reduction of aggravation, We can achieve this goal only through the concerted efforts of institutional and popular adding that the government of the elimination of administrative corruption and the adoption of Security Council resolution of social problems resulting from the forced displacement and many other problems.
The transition to a market economy stands behind these developments and unrest price which is reflected in the fact of living of its citizens, This is a progress would be overcome if the stability of the new economic structures on the basis of incorrect.
D. Haitham Karim / Studies Center
Strategic and Legal / University of Mesopotamia :
Moving away from a policy of absolute openness
Identify a mechanism to reduce prices
Inflation is a continuous rise in prices is not commensurate with the income obtained by the citizen whether salaries or wages and note that the increases in salaries, wages eroded with the rise in the prices of goods and services and increases in salary scales are not suitable for the high volume of authorized There marginalized in the real income for the rise in the value of wages or salaries. As we know, the situation in Iraq is exceptional and not specific constants and no mechanism for controlling prices, and there is the question arises : Have we live in a market economy or a planned economy based on the Department of State?
I believe that the ways to address that inflation is moving away from a policy of openness and absolute determination mechanism to reduce prices, and thus access to a state of imbalance means that the ceilings set high prices continuing to rise and that pricing random and thus reduce the inflation rate constant
D. Kamal visual / Undersecretary of the Ministry of Finance.
Equation reform fuel prices and achieve social protection *
The phenomenon of economic inflation derived from the existence and abundance of cash with the scarcity of goods and services, This abundance of liquidity in the cash came from the budget for this year allocated amounts of cash many of the salaries and wages increased by 90% from what it was last year. This pumping major financial market, while goods and services in the market started less for a variety of reasons, including security reasons, which made the market confused, as well as the crossing of goods through the border crossings have become confused also, in addition to the lack of fuel and the lack of electricity has affected the production of services and goods in the market, Consequently, all these factors involved in reducing what is of such goods and services. In addition, the availability of cash when individuals led to a rise in prices, Therefore, we believe that addressing the issue of security is necessary to solve any problem. Stability security addresses many issues.
With regard to fuel, it should state that these derivatives to prevent the continuation of the black market and the rise in Alasarulhta We encourage the state to expedite the implementation of the law on the import of oil derivatives and non-monopoly by the state and only allow the private sector to play a role in this subject.
The prices of oil derivatives, reform is necessary but must proceed according to the true by creating a climate logical to protect the poor despite the existence of the social protection project, but boy needs to Alttwiro other hand we need to support the services of water and electricity and other basic needs, because without such services, any reform will be distorted and non-integrated and affect the economic well-being of the citizens.
The figures, the frightening statistics of inflation now do not represent the reality of Maisbbh inflation and if the case was just the same, the inflation rates escalate more than any time previously. d. the appearance of Muhammad Saleh / Director of Research / CBE
Reducing inflation : the solution of the unemployment problem, The priority for housing projects
Can Nesher that the Iraqi economy weak in a great organizational structure because of the domination of the oil sector and other sectors in the small contribution to support the national income. And Nakkathalasasih is that the economic projects which the States have started to generate vibrations on the old traditions. direct support as it is known, is 80% in Iraq and this strange phenomenon in the world why any interference in this support or deal with such support will lead to many imbalances in the forefront of inflation. In my opinion, we can resolve these issues only, such as, inter alia, the solution of the unemployment problem, and adopt priority projects, or projects that could repeal or eliminate the issue of unemployment, Ole important economic projects are housing projects, they occupy 20% of the labor force
Iraqi addition to the housing projects and the construction of two thirds of the capital formation of the national wealth in the country. as well as a strong incentive for all activities, such as construction and other industries, It also creates operational activities indirectly to other industries.
Growth must proceed in a natural addition to some monetary reforms to contain such phenomena which distort the economy to control inflation bloc, We must pursue economic policies to reduce inflation, that is on the increase, If we take, for example, the rate of inflation between July of last year and even this year, we see the proportion rose to 70% and this figure is very dangerous inflation, which could be called the wild, This Maether the standard of living and prosperity in the country.
If they were to control the prices of oil derivatives, and work on ration cards for a long time, I believe that the indicators of inflation will subside relatively
. D. Mahdi Ilaq / general manager of the
The statistical and information technology to address cash-flow and in-kind
Investment and trade policies
* Inflation is an imbalance in economic structure between cash flows and flows kind, If we are to address this imbalance must address both in kind and cash flows. There are many treatments, some of which are linked to the actions of financial, monetary and investment policies and the balance of trade, both in terms of imports is the reduction of consumer goods and others, as well as exports and encouraging investment and capital products. These relate to the many actions hub statute of inflation.
The reasons for the persistence of inflation are many :
1-increase in the amount of money compared Balcmihalsabqh and also compared to the quantity of the goods under deliberation.
2-velocity and movement of money between individuals and institutions.
3-wars and spending on armaments.
4-budget funding.
5-foreign obligations and the burden of taxes and how to deal with them.
All these causes interference and influence in the subject of inflation.
This results in serious consequences, including inflation : -
- A decline in the value of money and the amount of individual pride.
B-disturbances in the balance of payments.
C-redistribution of wealth randomly to the benefit of civilians because of the decrease in the real value of the criticism.
A negative result of the increase unequal increases in the prices of services, which negatively impacted on the citizens with limited income.
D. Ahmed Al-Wazzan
Faculty of Administration and Economics / Mustansereya
A quiet excited about the prices
The Iraqi economy and a major shift Anataka of strong government intervention in economic totalitarianism towards the adoption of free-market mechanism and forces of spontaneous creativity in the context of the state known in contemporary literature (creative chaos or constructive), the rise in the general level of prices in light of the stability of the dollar disbursement of the Iraqi dinar to other currencies is the most important matter and is acceptable within certain limits that can control and the range of time can be unpredictable.
At a time when the public satisfied with the high level of incomes and improved purchasing power with the others complain about high fuel prices. And the right to raise fuel prices is behind a number of reasons and factors accepted and useful familiar with the scientific experience and expertise, but to raise the prices of fuel, the pricing of public services and other procedures required for the transition to a market economy would have cost to the extent a short - or medium - according to the prescriptions of the International Monetary Fund j and the International Bank for Reconstruction and Development.
And it can count the rise in the general level of prices in the current Iraq accepted and routine matters associated with the above long as those factors were still under the control of economic decision makers in the field of financial and monetary policies, as long as the issue comes within the framework of expectation prior to them in conditions of deportees e transition to a market economy and which adds to the ease of our prior determination that certain security conditions contribute to the formation and the creation of the emergency played a role in raising the general level of prices and once they disappear temporarily, this part of the rise in prices will end the demise of emergency conditions.
And it can be recognized (from the economic point of view) that the current rise in the general level of prices in Iraq Was phenomenon or a departure from the scope of the familiar is a kind of creeping inflation region, which does not worry hyperinflation, which accelerated generate a crisis and despite the optimism of this vision but that does not mean there is no impact negative harsh on the poor and low-income Anya.
D. Dia net-College
Administration and Economics / Mustansereya
Inflation Bsiashaghtassadeh balanced and comprehensive approach to achieving prosperity

Faced with the Iraqi economy in recent decades and rising inflation in the early 1980s, which led to be called the beginning of the collapse of the dinar exchange rate and deepen it by the imposition of the economic embargo on Iraq and led to low supply Commodity growing and significant increases in commodity demand and thus led to a major breakdown in S. Er Iraqi exchange rate.
The real problem lies in the absence of economic and financial policies and monetary designed primarily to increase the base rate of the Iraqi dinar against the dollar and government economic measures imposed as conditions by the International Monetary Fund, the World Bank and the so-called Group of States (Paris Club group).
In raising the subsidy on the prices of oil derivatives by nature and the nature of economic interdependence, which links call for economic sectors in the whole country were the first batch of inflation, which will stop at certain limits and that inflation could go over the application of the remaining conditions of the abolition of the ration card, which represents a basket of food Chairperson of the majority of the population of Iraq (70%) and could further deepen the privatization of the public sector, which is a significant increase because of unemployment in the country and catching up with globalization through accession to the WTO, which means killing the national industry and agricultural products for export or marketed to the domestic market Jazy blood potential to compete with foreign goods.
To face the dangers of inflation, we can not adopt a piecemeal, but through a balanced economic policy and working towards comprehensive economic welfare of the individual and society is not only through the diagnosis of all monetary and fiscal policies and work to raise its production capacities for the purposes of increasing the supply of the commodity that is my right, Ka causes leading to inflation.

Voices of Iraq :-$ (economy)
كتب: dhrgham في يوم الثلاثاء, 31 أكتوبر, 2006 - 11:50 AM BTBooks : dhrgham on Tuesday, October 31, 2006-11:50 AM BT

إنخفاض طفيف في الطلب على الدولار في مزاد المركزي العراقى اليومA slight decrease in the demand for the dollar in an auction today, the Iraqi Central
من ضرغام محمد عليDargham of Muhammad Ali
بغداد-(اصوات العراق)Baghdad - (Voices of Iraq)
إنخفض الطلب على شراء الدولار في مزاد البنك المركزي بشكل طفيف في جلسة البنك المركزى العراقى اليوم مسجلا 80 مليونا و365 الف دولار مقابل 82 مليونا و560 الف دولار في جلسة امس.Decreased demand for the dollar purchase auction CBE slightly in the Central Bank of Iraq today, recording 80 million and 365 thousand dollars, compared with 82 million and 560 thousand dollars to the meeting yesterday.
ورغم الانخفاض المسجل في جلسة اليوم إلا أن حجم الطلب يظل أعلى من معدلاته العامة بكثير .Despite the decline in today's meeting, the volume of demand remains the highest rates of the public much.
وتوزع الطلب بين 30 مليونا و105 الاف دولار نقدا و50 مليونا و260 الف دولار على شكل حوالات خارج القطر قام البنك بتغطيتها بالكامل بسعر صرف بلغ 1470 دينار للدولار الواحد، وهو نفس سعر صرف امس فيما لم تتقدم اي من المصارف ال15 المشاركة في المزاد باي عروض لبيع الدولار.Distributed demand between 30 million and 105 thousand dollars in cash and 50 million and 260 thousand dollars in the form of remittances outside the country, the Bank has full coverage at the exchange rate amounted to 1470 dinars to the dollar, This is the same rate as yesterday, did not submit any of the 15 banks participating in the auction, any offers to sell the dollar.
ح مH M