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

The Minister of Finance announced the adoption of the new retirement
Wednesday, 15.11.2006, 11:54 am

Finance Minister announces retirement Adoption of the new law and describes the coming budget Balanfjarih Baqir al-Zubaidi, the Minister of Finance said that the new retirement law has been approved by the ministry after a series of discussions with the International Monetary Fund

Translated version of http://www.iraqimedianet.net/article/Economy/

I cannot get the article opened. Doesn't work with me. I remember that the Retirement Law (pension law) was an important issue.

Wednesday, 15.11.2006, 8:45 am

Deputy PM Barham Salih declared that, the economical committee in cabinet council and finance ministry working on preparing the federal Iraqi balance sheet for 2007. Deputy PM Barham Salih declared that, the economical committee in cabinet council and finance ministry working on preparing the Iraqi federal balance sheet for 2007.

Translated version of http://www.iraqimedianet.net/article/Economy/

This article has no link yet?

Originally Posted by Rhys925

Adster, i get confused with these things, if the exchange rate were to drop 5 a day untill it reached 1:1 would that still mean we could exchange at that rate? when you say "The dollar is pushing the value of the dinar and that is why it's dropping, remember the dinar is still pegged to the dollar." could the dollar push the value of the dinar all the way up to 1:1 or am i just barking mad?

Well about the dollar pushing the dinar i believe you are correct. The exchange rate is really a managed float being measured against the dollar. Yet lately they seem to be loosening the grip on that rate. You could really say they are manipulating it.

I personally do not believe that we are going to continue to watch these ticks upward until we reach parity with the dollar. At some point near into our future I believe political will be exercised on the rate and we will have our RV. Of course this is just my opinion.

Originally Posted by shotgunsusie

Sotaliraq.com

Keep em coming matey, doing a great job. Thanks.

Another statement that points to a R/V soon. Just thought I would highligt som goodies in this article.

Iraq economy plan nears donor stage -US Treasury
Tue Nov 14, 2006 6:11pm ET
By David Lawder

WASHINGTON, Nov 14 (Reuters) - Donor countries helping Iraq rebuild its economy plan a meeting of ministers in December to hammer out details of aid and debt relief pledges, a U.S. Treasury official said on Tuesday.

Deputy Treasury Secretary Robert Kimmitt said the meeting, likely to be held in the Gulf region, will be an important step in defining the International Compact with Iraq, a U.N.-sponsored initiative to provide reconstruction aid in return for economic reforms.

"I think what this will be is a ministerial-level meeting to discuss the compact as it now stands and I would imagine that there would be discussion at that meeting of what individual countries would do, say, in the form of new assistance, debt relief, or other ways to help the Iraqi economy," Kimmitt said.

However, he said it was not yet clear yet whether donors would be ready to sign pledges under the compact.

Donor country officials first met in September and representatives from 75 countries and international organizations met again Monday at the United Nations to discuss the draft of the compact and strategies for securing aid funds.

An Iraqi government spokesman said last month the country needs around $100 billion over the next four to five years to rebuild its infrastructure, which has suffered from decades of sanctions and war under Saddam Hussein, as well as from the U.S.-led invasion in 2003 and the ensuing violence.

Iraq, a major oil producer that sits on the world's third-largest reserves, had expected billions of dollars in foreign funds to pour in after Saddam was toppled.

But foreign companies have largely stayed away due to relentless bombings, shootings and kidnappings and oil production has been hit by frequent sabotage

Kick-starting Iraq's oil-dominated economy is seen as crucial to create jobs and ease unemployment -- running at 50 percent by some Central Bank estimates -- which officials blame for swelling the ranks of insurgents

Kimmitt said that although Iraq's commitments under the compact have not been released, a key component will be a law to regulate the oil and gas industry and equitably distribute oil revenues based on population throughout the country. (HCL?)

Most of Iraq's oil reserves are in regions dominated by southern Shi'ites and northern Kurds. The bill aims to guarantee central Sunni regions their share of oil wealth.

The bill, still under debate within the Iraqi government, also is expected to set rules for contracting with foreign investors to modernize Iraq's oil industry, Kimmitt said.

May we assume that Kimmit are reffering to the FIL and the HCL?

Anyhow this seems good.

English : Planning Minister : Iraq needs to recover its economy

Baghdad, Nov.15 p.3Baghdad, Nov.15 p.212
Minister of planning and development cooperation, Ali Qaleep Baban has showed priorities that Iraq needs to walk at the road of economical recovering.Minister of planning and development cooperation, Ali Qaleep Winata has showed priorities that Iraq needs to walk at the road of economical recovering.

He added in his speech at the meeting of preparatory group of international covenant in UN office, Iraq needs building and renewing its armed forces to protect inner security of the country and rehabilitate production sectors to continue their work and overcome their problems, saying that government find it difficult to provide finance for building schools an hospitals.He added in his speech at the meeting of preparatory group of UN international covenant in office, Iraq needs building and renewing its armed forces to protect inner security of the country and rehabilitate production sectors to continue their work and overcome their problems. saying that government find it difficult to provide finance for building schools an hospitals.

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

Originally Posted by wciappetta

Well about the dollar pushing the dinar i believe you are correct. The exchange rate is really a managed float being measured against the dollar. Yet lately they seem to be loosening the grip on that rate. You could really say they are manipulating it.

I personally do not believe that we are going to continue to watch these ticks upward until we reach parity with the dollar. At some point near into our future I believe political will be exercised on the rate and we will have our RV. Of course this is just my opinion.

A decline of the dollar at the beginning of Asian dealings Tuesday, 14.11.2006, 7:42 am
The dollar fell in early Asian dealings because of fears of the possibility that central banks changed gradually reserves of foreign exchange should not be limited to only the dollar

Originally Posted by Caddieman

Sorry but I don't get the numbers. You are saying that the CBI has taken out 1 trillion in just one week of sales, and those sales totaled about 370,000.00 But we have had 806 auctions to date. If you take a very Conservative estimate of 25,000.00 a sale since inception you get 20,150,000.00 sold. That comes out by your numbers as 54 trillion taken out of circulation. Can you explain that? And before every one jumps on my case I am just asking a simple Question that I don't understand. Wm. Knowles is a much more learned man than I. The numbers just don't add up for me.

Well you also have to consider that the CBI was up until recently was expanding the money supply at the same time. I think that explains it at least some of it.

Originally Posted by kiko

Wednesday, 15.11.2006, 8:45 am

Deputy PM Barham Salih declared that, the economical committee in cabinet council and finance ministry working on preparing the federal Iraqi balance sheet for 2007. Deputy PM Barham Salih declared that, the economical committee in cabinet council and finance ministry working on preparing the Iraqi federal balance sheet for 2007.

Translated version of http://www.iraqimedianet.net/article/Economy/

This article has no link yet?

forgive my ignoranse. what is Iraqi federal balance sheet for 2007

Originally Posted by blackwulf

Sooner than later...
Another step closer today than yesterday...

How's that?

OK