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

Kuna site|Story page|US voices support for Int''l Compact with Iraq ...10/31/2006






US voices support for Int''l Compact with Iraq

ECO-9LD KUWAIT-IRAQ-ICI
US voices support for Int'l Compact with Iraq

KUWAIT, Oct 31 (KUNA) -- The US voiced on Tuesday overall support for the International Compact with Iraq (ICI) in its current state and form.

During a press conference at the conclusion of ICI's fifth and final preparatory meeting which was held in Kuwait, US Deputy Treasury Secretary Robert Kimmit said "I signaled in today's meeting the US government's strong support both for most of the concept of the international compact, also our strong support for the draft as emerged." He added "based on today's successful meeting, I think we are in a position to move to a ministerial level meeting" to enable concluding the compact.

He believed that the amount of international pledges to ICI would be announced during the anticipated ministerial meeting.

He noted that the US has extended Iraq with debt relief, technical assistance, as well as donor assistance for economic development and boosting security bodies.

He said despite political and security difficulties, Iraq's economic progress has made significant progress through a stable currency, sizeable foreign currency reserves and almost back to pre-war levels of oil production, which enabled Iraq to fund a considerable amount of government operations.

However, there was still a gap between their requirements and available resources, which stresses the necessity of ICI, he said.

A number of nations, including the US, have made the decision to write off 100 percent of Iraq's debts, while others wrote off 80 percent, and other nations are closely considering similar write offs that would be decided through bilateral talks, he said.

Kimmit represented the US during this one-day meeting.

Earlier, Special Representative of the UN Secretary-General for Iraq Ambassador Ashraf Qazi said ICI's final adoption would either take place during the end of November or the beginning of December and the final location of the meeting was under consideration. (pickup previous) kt

Originally Posted by tiffany

aargghhhhh! What about Article 8?????

I still don't understand why everyone was assuming that acceptance of Article 8 was going to be announced today. I don't recall any links/news/facts that even mentioned Article 8 in it. Sounded like a lot of hopin and a prayin to me.

If I'm wrong, please enlighten me cause I don't have as much time as others seem to have on here to read through every post.

I do hope it RVs soon, but looks more like end of November, beginning of December. Good luck to all!

Originally Posted by goldraker

Yes it was!

Yes what was....Article VIII!!!

"Originally Posted by cigarman
Is this the article 8 that we've been waiting on? YAHOO
Article VIII the link Articles of Agreement: Article VIII - General Obligations of Members


Sounds like December 31st just went bye, bye to October 31st!!!YAHOO!!!!!!
They met in June and extended the mandate until Dec 31, 2006.
This meeting in October will allow them to rescind resolution 1483 and Sign article VIII

Sounds like October 31st is reval day!!!!YAHOO!!!!!!
The Iamb has currency restrictions on Iraqs funds that come from Petroleum sales.. sec 2 a . Once these are lifted Iraq can trade Internationally"



There is also another couple posts with links...will look...

How can they open the ISX up this week or next as was posted somewhere recently and not have a reval'd currency. Don't see it happenin'....we need to find out if VIII has been signed.

....aaaaannddd....doesn't the FIL become automatically enacted around the 8th or 10th of November? (Dates are starting to blur....)

Maybe the Financial brains behind Iraq are trying to make it so the Dinar rises greatly by itself so its not a Quick PUNCH so to speak. Either way we will get there... But maybe the quick rise is a solution instead of just a Reval.

Originally Posted by opps50

Thanx

Do you know who posted it?

I think it was oldskiier. Not sure, go over there and do some searches.

Originally Posted by CharmedPiper

Yes what was....Article VIII!!!

No I was responding to opps50 about the mazini rate.

Originally Posted by CharmedPiper

How can they open the ISX up this week or next as was posted somewhere recently and not have a reval'd currency. Don't see it happenin'....we need to find out if VIII has been signed.

This was on the ticker of Aman Financial Servies website:

Internet on line accounts now available with Aman Financial Services... Bank foreign mergers approved... Dar Sallam Bank resumes trade... Ahli Bank resumes trade... Credit Bank resumes trade... ISX resumes trade after Eid break Nov 07...ISX commissions new premises...

MAYBE RV before Tueday November 7th? right before Monday the 13th when B & A jump in???

I await for the rolclub experts to WAKE UP and DE-think my brain