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

Originally Posted by arpking

So, if these new "prediction dates" come and go as every other one has.... what will we rhyme with January hmmmmmm?????

1. HCL MUST be done by end of year per article just posted here.

2. HCL enables high revaluation potential and inevitability.

3. FIL is enacted as per post earlier.

4. FIL + HCL = RV

end of year is DECEMBER. no need to search for january quote.

Originally Posted by shotgunsusie

now you know why theyve adamantly maintained it would be DONE by end of year.

as far as a revalue not happening until just before the isx opens in january that doesnt seem feasible, as a LARGE change in currency value like we are expecting BEFORE the 2007 budget gets underway seems more likely a scenario.

From what I am hearing, you are correct. HCL was the late night meetings being discused as well as article 101. They, my sources dont understand Arabic, but this is what they truly suspect was discussed. ( As yet not 100% confirmed) They were providing security for those not on my privy PM list, sorry just a cautious type)

Gloribee

I copied this section from the Stand-By arrangement. This was the 2006 expectations.

Press Release No. 05/307
December 23, 2005 International Monetary Fund
700 19th Street, NW
Washington, D.C. 20431 USA

IMF Executive Board Approves First Ever Stand-By Arrangement for Iraq

For 2006, the authorities aim to strengthen administrative capacity, allocate resources towards the planned expansion of Iraq's oil sector, and to redirect expenditures away from general subsidies towards providing improved public services. The IMF-supported program envisages an acceleration of economic growth to 10 percent in 2006, and a reduction in the rate of inflation to around 15 percent. Net international reserves of the CBI, which stood at about US$8.7 billion at the end of September 2005, are expected under the program to increase further in 2006

Iraq's fiscal stance in the near term will be driven by reconstruction needs, subject to constraints on financing. The primary fiscal deficit in 2006 is projected to be about 8 percent of GDP, following of deficit of nearly 11 percent of GDP in 2005. Over the medium term, and as reconstruction needs subside, the government's fiscal deficit should gradually decline to zero. To begin the process of appropriate fiscal adjustment and to meet previous commitments to the Fund, the Iraqi authorities have increased domestic prices of all refined petroleum products.

In addition, an audit of the Central Bank of Iraq has reached an advanced stage, which was another pre-condition for the IMF Executive Board's consideration of the Stand-By Arrangement.

Iraq joined the IMF on December 27, 1945. Its quota is SDR 1.188 billion (about US$1.71 billion), and its outstanding obligations to the Fund as of November 30, 2005 is SDR297.1 million (about US$428.12 million).

Originally Posted by shotgunsusie

1. HCL MUST be done by end of year per article just posted here.

2. HCL enables high revaluation potential and inevitability.

3. FIL is enacted as per post earlier.

4. FIL + HCL = RV

end of year is DECEMBER. no need to search for january quote.

I'm sorry but regarding # 3 - where is the proof that the FIL is enacted? Why is that post being treated as fact???

Description of Selected News

Iraq calls for a supervising body on Iran exports

Tehran Times Economic Desk
TEHRAN – A committee to supervise the quality and price of Iranian goods exported to Iraq is essential to trade between the two countries, the head of Iraqi Chambers of Commerce Association told ISNA on Wednesday.

“Competitive and quality merchandise is what Iraq’s current situation calls for,” Jafar Rasul Hamdani continued, adding that items of poor quality are going to damage image of Iranian products. A minimum of standard should be observed and supervised by this committee if Iran wants to be a player in this market.

“As addressed in Iraq 4th Market Conference, held in Kermanshah recently, businessmen from Iran need to walk into our marketplace with measured steps and long-term plans,” he reminded, calling Chinese, Turkish and Syrian goods superior to most of the commodities sent from Iranian side.

At this moment, no consistent and enduring plan may be implemented by Iraqi government in the absence of security, Hamdani said in conclusion.

PLATFORM - Former British Foreign Minister helped oil giants with Iraq contracts

New Oil Minister Husayn Shahristani announced days after his appointment in late May that he would draft an oil law within two months, to enable Iraq to sign contracts with “the largest companies”. He stated that the law would be passed through the Iraqi parliament by the end of the 2006 – the deadline set by the International Monetary Fund.

Originally Posted by shotgunsusie

theyve got enough without his bunch and then some. problem is the religious fanatics think they gotta go pray everytime theres some pilgrimage to some holy site. i mean i would think allah would want to 'let his people go' so to speak.

Yes they do have enough, I think they lost only 20-30 people. It also has nothing to do with the holidays, these people just don't want to work. If they can still get a pay check & not show up for work they will keep on doing it. Sure, they said they would stop paying these losers but that has yet to happen. It is a F'n joke the way they let these people get paid for nothing.

Originally Posted by Mike5200

I'm sorry but regarding # 3 - where is the proof that the FIL is enacted? Why is that post being treated as fact???

I agree Mike. If #3 is in reference to the post that I brought over from "that other place", that poster was basing his/her assumption of the FIL being enacted on the below article (from what I have been able to gather). I do not know how accurate this is.

A Law for Investment in IraqAli Al-Fikaki Al-Hayat - 19/12/06//

The Iraqi Presidency Council issued Investment Law No. 13 of 2006, containing provisions for regulation, rights and encouragement for investors, encompassing Iraqis and non-Iraqis, designed for the phases of establishment and operation. The law aims to attract and encourage investment and the transfer of modern technologies to the country; to encourage both the Iraqi private sector and foreign investment in the country; to protect the property rights of investors and their profits, and the expansion of exports and enhancing the competitive edge at home and abroad.

The law covers all branches of investment, production and service activity, except for the extraction and production of oil and gas, banks, and insurance companies. However, it did turn out that the extraction activities for other minerals, in addition to the mineral refining and oil refining sectors, are covered by the law like other branches of industry, investment and other sectors like agriculture and tourism, health, etc.

The law does require the participation of an Iraqi partner with foreign investors, except for the purposes of licensing or enjoying tax exemptions and privileges and facilities. The law also stipulates the establishment of a National Commission for Investment to take up the task of implementing these provisions. It allows regions and governorates, provided they are not ensconced to the region, to form investment commissions in their own areas that enjoy licensing authority and the granting of exemptions and facilities and the management of investment projects there. In order to facilitate the licensing process, the bill authorizes the issuance of establishment approvals (investment licenses) through the establishment of the so-called 'single window' in the region or province.

Read the whole article here...
Dar Al Hayat

Originally Posted by Mike5200

SGS- What do you know if anything about the FIL being enacted on the 19th?

Mike,
I pulled this information from another forum.

JT2154


Iraq News F.I.L. enacted!

Link for whole story:
http://english.daralhayat.com/busine...8-839c0025c859...

A Law for Investment in Iraq
Ali Al-Fikaki Al-Hayat - 19/12/06//

The Iraqi Presidency Council issued Investment Law No. 13 of 2006, containing provisions for regulation, rights and encouragement for investors, encompassing Iraqis and non-Iraqis, designed for the phases of establishment and operation. The law aims to attract and encourage investment and the transfer of modern technologies to the country; to encourage both the Iraqi private sector and foreign investment in the country; to protect the property rights of investors and their profits, and the expansion of exports and enhancing the competitive edge at home and abroad.

The law covers all branches of investment, production and service activity, except for the extraction and production of oil and gas, banks, and insurance companies. However, it did turn out that the extraction activities for other minerals, in addition to the mineral refining and oil refining sectors, are covered by the law like other branches of industry, investment and other sectors like agriculture and tourism, health, etc.

Originally Posted by CharmedPiper

I copied this section from the Stand-By arrangement. This was the 2006 expectations.

Press Release No. 05/307
December 23, 2005 International Monetary Fund
700 19th Street, NW
Washington, D.C. 20431 USA

IMF Executive Board Approves First Ever Stand-By Arrangement for Iraq

For 2006, the authorities aim to strengthen administrative capacity, allocate resources towards the planned expansion of Iraq's oil sector, and to redirect expenditures away from general subsidies towards providing improved public services. The IMF-supported program envisages an acceleration of economic growth to 10 percent in 2006, and a reduction in the rate of inflation to around 15 percent. Net international reserves of the CBI, which stood at about US$8.7 billion at the end of September 2005, are expected under the program to increase further in 2006 "out of country auctions"
Iraq's fiscal stance in the near term will be driven by reconstruction needs, subject to constraints on financing. The primary fiscal deficit in 2006 is projected to be about 8 percent of GDP, following of deficit of nearly 11 percent of GDP in 2005. Over the medium term, and as reconstruction needs subside, the government's fiscal deficit should gradually decline to zero. To begin the process of appropriate fiscal adjustment and to meet previous commitments to the Fund, the Iraqi authorities have increased domestic prices of all refined petroleum products. all done deals.

In addition, an audit of the Central Bank of Iraq has reached an advanced stage, which was another pre-condition for the IMF Executive Board's consideration of the Stand-By Arrangement.

Iraq joined the IMF on December 27, 1945. Its quota is SDR 1.188 billion (about US$1.71 billion), and its outstanding obligations to the Fund as of November 30, 2005 is SDR297.1 million (about US$428.12 million).