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

الاقتصاديةEconomic : Raise the value of the Iraqi dinar and its impact in reducing inflation rates

مناف رضا ايوب الصائغContrary Reza Ayub diamantaire
The decision by the Central Bank on the rise in the value of the Iraqi dinar against the dollar to reduce inflation in the economy now, as well as raising interest rates to levels higher than in the past and payment deadlines for various encouragement

To save all of this piece of the action, which is the heart of the duties of the Central Bank, but the main problem that these actions that have been taken were not synchronizing with a stable economic interact with all mechanisms in the economy in a harmonious manner and gross domestic product comes from a variety of sources productivity in the economy, but to come and see what is on the economic scene in the country.
1- اOne of the Chairperson of the economy, which is a compass to guide savings and investment in the country is the stock exchange or market Iraq securities and this market, we find that the poor security situation brought the case on the fact that most of the shares traded companies declined to the lowest of the dinar one after that the prices of those shares ranging between five dinars session dinars or more, as most investors as a result of the deteriorating security situation and fear for themselves from the kidnapping and murder. The well as their families, they transfer their investments to the Amman stock exchange and stock primarily with the Gulf States and other According to statistics from the Amman stock exchange that Iraqi investments in the stock exchange to quote the three billion dollars, and if we look here, we will see how quickly the Iraqi economy from the lost capital in the economic cycle and how the result will add capital turnover.
2-GDP Iraqi derived all its resources of oil, as we know that the Iraqi economy is one-sided and was supposed since 2005 that the government measures that encourage the private sector to play its role and the advancement of the Iraqi economy through the actions of soft loans and the laws of protection for local industries as well as the procedures for customs control on the imports of goods into Iraq compete for the produce of the private sector and to develop and support projects in the private sector which have an impact on the lives of citizens.
We find it of the foregoing that the private sector remained weak and marginalized and unable to embrace the challenge individually without government support Had for a specified period and within a studied what led to the increase in volume is inflation and be reflected in the the rising price of goods and services and are most of those goods and services imported This pushed the traders to lift from Akiam those goods and services, including parallels the decline in the value of the dollar in front of the Iraqi dinar according to the submission made by the Central Bank of Iraq and the result led to a the erosion of the value of the Iraqi dinar before the dollar once again due to the increase in prices including parallels the value of during the period of imported to preserve the ratios reasonable profit and with the minimum level, this the part and the other side is the the scarcity of import of the goods from before traders because of the security situation and the terrorist threat to traders to close down the their shops.
3- that most local industries parked This result leads to the curtailment of resources derived from the industrial sector as well as the lack of the state's contribution and, as I said before, earlier in the activation of this sector, including those towards maximizing resources and have a share in the GDP.
4-agricultural sector and the result of the opening of outlets in the country of import controls and without increasing the demand for agricultural products by all citizens led to a reduction in the role of the agricultural sector in any addition of the gross domestic product, as well as to weaken its ability to compete and, consequently, the evolution and growth.
And return once more to the procedure of the Central Bank with regard raise the value of the Iraqi dinar before the dollar we find that this procedure with each the suffering of the Iraqi economy from the stoppage in the process the entire economic because of terrorism as well as because of the underdevelopment of State institutions to be relevant after consideration of the events and beat of personal interests and selfishness for some all of that led to a reduction in the impact of dinar's value once again before the dollar with the procedures the Central Bank of Egypt because of the attempt to traders in maintaining on their right to non-loss result the difference between the value of the goods imported timely and between the teams dinar rate of exchange against the dollar as well as of a decline of import since the no less ferocious on the two months because of the deterioration of the security situation and a continuous basis what make the before of the goods declining about the survival of the same level of demand.
In order to emerge from this vicious must follow :
1-activating the role of the private sector and to give sufficient flexibility to move in the hands of the laws and legislation in line and by the Constitution
2- Two-and start working now since the principle of small projects through loans simple to activate the economic cycle in the country and to combat unemployment through these projects.
3-Three-start from now to activate the industrial enterprises of the public sector that can through rehabilitation to provide service to the community and absorb part of a reasonable unemployment.
4- Four-start housing projects, according to the basic needs of the community to ensure that such projects are implemented by the private sector with some of the projects that wish to implement the public sector, as we know that housing projects move more than 60% of the economic sectors in the country as well as it would eliminate the major proportion of unemployment.
4-promote the agricultural sector through soft loans through the Agricultural Bank, as well as in the first stage, the provision of fertilizers, pesticides and seeds at affordable rates to help re-production format which allows it to block the local market need, as well as the provision of the means of agricultural production and building Almbazl other hardware and channels and provide incentives for farmers who have known that production is increasing year after year.
5-important issue and last, namely, that the security situation You can not disbanded only through dialogue and the political aspects, but through the revitalization of joints the economic process including suited and maintaining the continuity Durán all sectors of the economy and in a flexible manner gives the economic process the dynamic required in the face of any pressures may be subjected to This can be done only through coordination between the political side and the economic side like someone who strikes a of U.S. MUSICAL it could not depends on the the guitar player without others, as the total instrumentals instrumentalists gives uncontrollably consistency and makes it Ttarb comforting Thus economy when left most of its sectors for Atazv in tune with the Central Bank of the Central quitted uncontrollably anachronism and made life miserable comforting, and when spoke in political in economic language before politics and had a friendly the Platform economic when that one be delighted to we are fine, Allah willing.

Originally Posted by kiko

Guys, I was surfing on the Internet and landed on the official website of the Iraq banking and business community.

Here i found some very interesting articles, some older, but different then we read. I am gonna post them after this one!

We have heard the 15th of january in rumors, but could be a very important date.

First of all the Hydrocarbon Law should be ready 31/12/2006 according to IMF.

We have read today that the USA had set a deadline for that HCL! It's is being pushed now as never before, so I think the deadline is the 15th of January.

We see small steps by CBI, less then the last month! Could that be that they know they will go back to the 1:1 level on the 15th and keep the rate low to pull out what ever they can and as cheap as they can!

Budget should start at 1260! Now we read today that after setting the budget the exchange rate can be determined! But they told us it was 1260 so what is to determining then??

What about ICI! Should have been done. Signing and formal adoption in early 2007 as we have read! Nothing about that, believe me that will also be a point of the economic package of Bush and announced tommorow, I am certain of that!

We must be sooooooo close!!

ive been thinking, they set the initial budget at 1260 but that was BEFORE enactment of the oil law. i think what they are saying in that article i posted is that they will be redetermining the budget rate at that time, taking into consideration the oil investment law since it will soon be enacted.

Originally Posted by Onenomad

Loads on mine too even logged in on the internet banking link on main page was good to see interest credited to my account. They sure have come a long way from when I opened my account very impressed I cant wait for the online share buying now that will make me go WOOT

OneNomad,

If you don't mind me asking so, how did you get your account set up? Did you do this some time ago?

Thanks in advance!

Tom

Originally Posted by kiko

Here is article 3.

We don't hear anything about the 10K handout and I personally think it won't come anymore.

Could it be that they have made a study of which people do need aid after a 1:1 revalue and who don't!

Then only the real poor people could get some money to start their lives again and the ones that have some money are also having a good start only without an aid.

Read this article. They are starting to give aid to the poverty starting the 15th of January and it covers the months october/november/december.

Wasn't october not the month when they promised the Holiday Eid!

The distribution of the money will be carried out in post offices and they will help 2 million people in 2007!!

Could a RV take place before or on the 15th when people are getting that money?

Is that why Baghdad is secured all over the place and can it be that the lower denoms will be distributed??






It's only an opinion, but everything is point that we must be close!

pardon me everyone while i

WOoTTTTT

I second that WOOoTTTTTT!!

Originally Posted by shotgunsusie

ive been thinking, they set the initial budget at 1260 but that was BEFORE enactment of the oil law. i think what they are saying in that article i posted is that they will be redetermining the budget rate at that time, taking into consideration the oil investment law since it will soon be enacted.

I think you are right about that!

Else we already had seen that 1260!

HCL is pushed and enacted real soon, then we will see the real exchange rate!

Warka online banking is now up, wooooooot, they have put the interest on as well. I love progress

Originally Posted by boomcreek

I agree 100%, however, the idea of it merely being 1:1 seems to be an under estimate to me. If they want the Dinar to be the currency of choice, why wouldn't they simply use USD too. "Choice" would imply a greater value than a 1:1 exchange rate, although I would accept that, I suspect, if they are sincere about their desire for their currency, the value would be greater.

DING DING DING!!!!
TELL HIM WHAT HES WON JOHNNY!!!!

Originally Posted by Dinar Duchess

Warka online banking is now up, wooooooot, they have put the interest on as well. I love progress

Just a point of interest, i noticed that my account balance has three numbers after the decimal point which has occurred as a result of the interest being added e.g. .655. It is not rounded up or rounded down. two thirds of a dinar.

Ok, Bush's speech is tomorrow evening. Wouldn't the PM make his announcement first??