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

Originally Posted by CharmedPiper

What meeting is scheduled for tomorrow, 11/20/06. With all the information I forgot....

Some big EU meeting, CP.

Originally Posted by benzboy

Thats a visual I care not to embark upon, now I will need nyquil just to get to sleep.
benzboy

No problem. Cause if he was on the White House lawn he would be wearing a few red dot and maybe a couple of cross hairs. Looks pretty nice to me.

This is the baby to keep an eye on for Monday..........

20 november beginnen handelsbesprekingen met Irak (en) - Europa hoezo?


20 november beginnen handelsbesprekingen met Irak (en)


Taal: en - Engels
Met dank overgenomen van EU Press Room, gepubliceerd op 20 november 2006.
On 20 November, the Commission and the Iraqi government will launch the negotiations for a Trade and Cooperation Agreement between the EU and Iraq. This first round of negotiations will be kicked off by Commissioners Ferrero-Waldner and Mandelson, on behalf of the Commission, and by Barham Salih, Iraqi Deputy Prime Minister for Economic Affairs, on behalf of Iraq. By entering into contractual negotiations with Iraq, the Commission aims to:
Facilitate Iraq’s engagement with the international community and with the EU in particular, to the benefit of the internal and regional stabilisation process.
Stimulate and anchor ongoing institutional and socio-economic reforms at both policy and operational levels, favouring an inclusive reform mechanism at a crucial historical moment for the country;
Contribute to the socio-economic development of Iraq and to the improvement of living conditions in the country;
Promote bilateral trade relations in accordance with WTO principles based on the expansion of harmonious economic relations between the parties; and
Ensure a minimum level of predictability, transparency and legal certainty for economic operators.
The objective of entering into contractual relations with Iraq was set out in the Commission Communication “The European Union and Iraq: a strategy for engagement” of June 2004. This strategy envisages that the EU should put forward a framework for progressively closer relations with Iraq at a pace determined by the progress achieved in the political process.
The events:
First round of negotiations with Iraq for a Trade and Cooperation Agreement will be held in Brussels. After the meeting, there will be a VIP corner at the Berlaymont.
The sources:
http://ec.europa.eu/comm/external_re...m04_417_en.pdf

http://ec.europa.eu/comm/external_re...m04_417_fr.pdf
European Commission website:
The EU's relations with Iraq - Overview

From above site.



EU Policy objectives in Iraq:

The Commission strategy for Iraq is firmly anchored in the 2004 Commission Communication “The EU and Iraq: a framework for engagement” (COM (2004) 417/1 of 01/06/2004) which illustrates the EU fundamental interest in seeking a greater engagement with Iraq based on three key objectives:
#

The development of a secure, stable and democratic Iraq
#

The establishment of an open, stable, sustainable and diversified market economy
#

Iraq’s political and economic integration into its region and the international system.

For the realisation of these objectives the Communication which was endorsed by the European Council of 17-18 June 2005 (see leave siteCouncil Conclusions 10255/05)pdf file sets out an action framework allowing for progressively closer EU-Iraq relations at a pace determined by the progress in the political transition and the security conditions in the country. The framework for engagement is structured around three distinct phases reflecting the timelines endorsed by the leave siteUNSCR 1546:

Phase I – Immediate Actions: for the period between 30 June 2004 until the elections of the Transitional National Assembly (TNA) in January 2005. Humanitarian assistance, support to reconstruction and elections, informal political dialogue, engagement on the part of Iraq’s neighbours and the opening of an Iraq Office in Amman, were the main targets set forth by the Communication. This phase also included support to the creation of a multilateral framework for support to reconstruction under the auspices of the UN and the International Financial Institutions.

Phase II – Post elections: This phase, mainly centred on the constitutional process, was meant to see the intensification of the rehabilitation and reconstruction support, the starting of a formal political dialogue and the beginning of joint working groups in sectors of mutual interest.

Phase III – Medium terms: following the appointment of a constitutionally elected government, the EU would move onto negotiating a bilateral agreement, providing continued assistance for economic diversification and poverty reduction, encouraging the creation of a regional framework, gradually focusing assistance in the field of rule of law, democratisation and human rights, and, finally, the opening of a fully fledged European Commission Delegation.

The Commission so far has delivered on all key actions foreseen in phase I and is well advanced in implementing the actions foreseen for phase II. With specific regard to the political process, barely one month after the formation of the first elected government in Iraq, the first EU Troika visit to Baghdad took place in June 2005. On this occasion the EU indicated that it intended to intensify the dialogue with Iraq with a view to move into a formal political dialogue, culminating eventually into more formalised contractual relations between the EU and Iraq. In this context, the Commission has prepared in 2005 a proposal of negotiating directives for a Trade and Cooperation Agreement with Iraq. This was presented to the Council in December 2005 with the intention to offer the constitutional government the perspective of entering into negotiations on contractual relations with the EU in 2006. Preparations for the opening of a Commission Delegation in Baghdad are also progressing.

2. Economic situation

Despite having some of the world’s largest oil reserves and considerable gas reserves, ample water and a tradition of attention to health and education, Iraq is now a country where all development indicators are dismal. There is a perilous mixture of low indicators, heavy dependence on oil, and large numbers of unemployed youth. Years of conflict, mismanagement and sanctions have isolated the country from international experience in most areas of governance.

After falling to US$ 12 billion as a result of the conflict, GDP recovered in 2004 to almost US$ 26 billion and per capita income to about US$ 940. Even if economic growth continues into 2005, GDP per capita will only be one fourth of what Iraq generated 25 years ago.

Although oil production and exports remain considerably below the pre-war levels, the main engine of recovery remains the oil sector, which accounts for about 70 % of GDP and over 98 % of exports and government revenues. The sharp increase in oil prices is having a significant impact on government revenues and public spending. While the international oil price has reached more than 60US$ a barrel, the domestic fuel prices in Iraq are among the lowest in the world, encouraging black market and fuel smuggling outside the country.

Another engine is private spending, which was on the rise because of increases in civil servants’ salaries and remittances from abroad. The extent of this spending is apparent in the increase in private sector imports. But security concerns have slowed down private investment and raised the cost of doing business in Iraq.

In November 2004 Iraq’s public debt was estimated at US$ 120.2 billion, of which almost one third (US$ 38.9 billion) was owed to Paris Club creditors. A major agreement was concluded with the Paris Club for a massive debt reduction plan, which would bring the debt down by 80% in three different phases. The first started immediately at the beginning of 2005, and the two subsequent ones are linked to the approval and completion of the IMF standard programme. The agreement with the Paris Club paved the way for other similar agreements for debt reduction with non-Paris Club countries, some of which were announced at the Iraq conference in Brussels.

Inflation, which spiked in the second half of 2004, has been low thus far in 2005. International reserves, which rose strongly in 2004, have been fairly steady in 2005. Iraq’s exchange rate peg to the dollar has to date been kept relatively stable, but the authorities need to adjust monetary policy to maintain the monetary framework that the peg provides.
__________________

Originally Posted by jedi17

The CBI controls the currency. The IAMB meeting which is to take place in DEC 12-13 which people are talking about is to report on oil sales. The Role of the IAMB is as follows:

1. Ensure DFI is used in a transparent manner for the benefit of the people of Iraq.

2. Export sales of petroleum, petroleum products, and natural gas from Iraq are made consistent with prevailing international market best practices.

DFI- development fund for Iraq

The UN controls oil sales in Iraq I think...therefore it would appear that the meeting in Dec. may have little impact on a R/V. I hope I got this right and helps a little. Anyone can add to this or correct me if I'm wrong.

I think we need to look at this PDF which was published at the IAMB website; it’s from the General Secretariat of the council of ministers legal department, to Ministry of foreign affairs Cabinet of Minister.

The Council of Ministers at it’s normal twenty third meeting held October 19, 2006 has agreed the formation of a committee of Financial Experts to take over the task of previously performed by the IAMB.

Who can we believe?

Here is the link: http://www.iamb.info/pdf/oversight_body103006.pdf

Still no update on Official Gazette website.... HMMM

Cheers!
DayDream

do they update everyday

FYI.....

Today I caught the last half of a show called Foreign Exchange with Fareed Zakaria on my local network kbtc. His special guest was Qubad Talabany, representative of the Kurdistan Regional Government to the US. Anyway it was quite interesting on what he had to say from his point of view on Baghdad and the rest of Iraq, and how Kurdistan continues to prosper givin how the rest of the Iraq is in turmoil. He also talks about the present and future of Iraq and the problems that they face. The segment I watched was discussing the distribution of oil revenues across the three parts of the country and the main conflicts between the Shias and Sunnies. Anyway the show will be uploaded Tuesday on the internet and I will provide a link. Just thought I would pass it along.

Originally Posted by iswtnot

do they update everyday

Mostly yes, except on Fridays and Holidays.

Past year...

AL-MADA Daily Newspaper...ÌÑíÏÉ ÇáãÏì

Cheers!
DayDream

Originally Posted by DayDream

Mostly yes, except on Fridays and Holidays.

Past year...

AL-MADA Daily Newspaper...ÌÑíÏÉ ÇáãÏì

Cheers!
DayDream

This should be the next link when live.
http://www.almadapaper.com/sub/11-814/11-814.htm