Comments on: Iraq progress is progressively progressing

By: Joseph

Joseph — Tue, 12 Jan 2010 08:02:55 +0000

Iraq has received a loan of $ 7 trillion dinars to cover the deficit : Alaa al-Sadoun said Deputy Chairperson of the Finance Committee in the House of Representatives that the World Bank and IMF special drawing rights and made a loan to Iraq Bmlbg 7 trillion Iraqi dinars to bridge the fiscal deficit. Said Saadoun, a member of the Accordance Front, said: “The fiscal budget deficit of 21 trillion Iraqi dinars. Sntdark and recycled it through my existing budget of the past year. And the budget in 2010 was calculated on the basis that the price of a barrel of oil to $ 62,5, and the price The current oil is $ 73 a barrel. and this difference would reduce the fiscal deficit.” Saadoun predicted: “The vote is on the budget for the current year next week.” In this case, Something gotta give soon. And, The IMF could of just told then to RV! and the budget would not be affected.

By: Joseph

Joseph — Tue, 05 Jan 2010 04:31:57 +0000

Just To the point, the Iraqi Dinar is currently at an extremely low valuation compared all other world currencies, which would make a very lucrative investment for anyone. The investment community is currently watching everything for signs of upward movement in the value of the Iraqi Dinar. Many sources including the Iraqi Financial ministry speculate an increase in Iraqi Dinar value in early 2010.
“A twenty-seven dollar investment today could be worth seventy-five thousand dollars if Iraqi Dinars are revalued to historical values.”
2009 IRAQI DINAR REVALUATION INDICATORS & SIGNS:
• Donald Trump investing Millions in Iraqi Dinars
• Iraq oil field contracts being let.
• Iraq Financial Ministry
• Large world corporate investments in Iraq infrastructure
• Obama election cause ease of middle east tensions against US
• US Secretary of State – Hillary Clinton’s recent remarks about Iraq becoming one of the richest countries in the Middle East.
Many believe that the Dinar will return to its historic value of $3.20 as opposed to it value today of less then one cent. Will these indicators and signs mean to speed up the RV early 2010.…

By: Joseph

Joseph — Tue, 05 Jan 2010 04:31:37 +0000

Now Iraq is ranked twelfth in the list of the richest Arab..Iraq is occupied twelfth place located in the bottom of the sequence of the richest Arab countries, along with Algeria, Tunisia, Jordan, Morocco, Egypt, Syria and Sudan. Landing in Qatar topped the list and after the United Arab Emirates, Kuwait and Bahrain in Almertbpaiip Dissolved and Oman in fifth place followed by Saudi Arabia in the sixth, while Yemen was ranked by the recent order of the poorest countries, followed by Mauritania poorest of Arab nations.Qatar was ranked first at the top of the order of the richest Arab countries, as annual per capita income of the 70,651 dollars, while not exceeding a population of 1.448 million people, followed by the UAE in the second and per capita income of 52,574 people while the population of 4.76 million people, and Kuwait ranked third, and per capita income of 43,046 dollars and a population of 3.43 million people, to the Bahrain came in the fourth income of 21,675 dollars per capita and a population of 1.123 million people, either the average per capita income in Oman to $ 20,908 for its population of 2.86 million people, and Saudi Arabia in sixth place, and per capita income of 18,903 dollars and the number of population of 24.8 million people, and replaced Libya was ranked seventh with 10,519 thousand dollars for an individual and a population of 7.2 million, Lebanon ranked eighth and income per capita in 7479 dollars, followed by Algeria, Tunisia, Jordan, Iraq, Morocco, Egypt, Syria and Sudan. They can pass all the laws you want and it will be a very long time before Iraq is as per capita rich as Qatar. Qatar has per capita income of $70,651. With over 28 million people that would require a GDP of ~ 2 trillion dollars for Iraq. 2 trillion divided by 365 days would be ~ $5.4 billion a day. Divided by $80 a barrel and they would need to produce 67,500,000 barrels a day to be as rich as Qatar and have almost 90% of the worlds total production. 33.75 times as much as they are now producing. Maybe we should give them another 6 months to accomplish 90% of the worlds total oil production. We hope this will speed up the RV that make iraq is ranked # 1 richest wealthiest sooner early 2010, don’t we…

By: Joseph

Joseph — Tue, 05 Jan 2010 04:31:12 +0000

to borrow from the IMF as “a serious matter, the interests of Iraq over the long term, indicating the threat to the future of Iraq and the interests of the people.The proposal is based splendor in the general budget for the year 2010 to borrow from the International Monetary Fund.the World Bank when giving loans to countries within the framework of the restructuring of the economy of these countries and, therefore, is the long-term intervention in the affairs of these countries even amount to interference in its sovereignty. Rubaie confirmed his refusal not to pass the federal budget for 2010 until the next parliamentary session, noting they relate to the interests of the people.He stressed the need to separate the budget for the elections and political history.

By: Joseph

Joseph — Tue, 05 Jan 2010 04:30:54 +0000

GCC monetary authority soon, Four Gulf nations will launch their monetary authority to set up a joint central bank at the end of February as part of an historic pact to create the Middle East’s first currency union.Saudi Arabia, Kuwait, Qatar and Bahrain, members of the six-nation Gulf Co-operation Council (GCC), will officially launch their monetary union on January 23 following its final summit approval last month.”The monetary union will be enforced on January 23, a month after the fourth ratification document was deposited by the members with the GCC Secretariat,”.”As for the Gulf Monetary Authority (GMA), which will pave the way for the creation of the GCC central bank, it will start operating at the end of February,”.The Newspaper reports that the central banks of the four countries halted lending operations at the beginning of 2010.”Those reports carried wrong information that the central banks would stop lending at the start of 2010… this process requires several procedures, which will be the responsibility of the GMA,”.”Any way, most central banks in those countries normally do not lend to the government, which means these reports do not carry any new information,”. Is this a good news or what……

By: Joseph

Joseph — Wed, 30 Dec 2009 09:16:59 +0000

The council is expected to start discharging its duties within two months of the last ratification: Dubai: With the GCC Monetary Union taking a big step forward at the Kuwait summit earlier this month about the direction the project is likely to take. Gulf News: After the GCC Monetary Union came into effect, what next? When will a unified central bank be established? When is the unified currency likely to be introduced?
During the GCC summit in Kuwait, it was announced that the four member states of the GCC Monetary Union have ratified the Monetary Union Treaty, thus establishing legally the GCC Monetary Union and setting in motion the process to arrive at a GCC unified currency. A meeting of central bank governors of monetary union member states is expected over the next few weeks to kick off the process of forming the GCC Monetary Council and deliberations will begin with the naming of members of the council. The council is expected to start discharging its duties within two months of the last ratification, as stipulated in the Monetary Council Charter. What is its brief?
The monetary council will be run by a board of directors comprising central bank governors of member states. Its main tasks include coordination between national central banks regarding monetary policy as well as laying out the remaining technical steps towards the monetary union, including the name of the new currency, its design, safety specifications, and denominations. It is also charged with completing the process of harmonisation of statistical systems and compatibility of payment systems, as well as a time-table for the launch of the new currency. The monetary council’s board will be also in charge of verification of compliance with previously envisaged “convergence criteria” which include limits on public debt and budget deficits, as well as inflation and interest rates across member states. One of the main functions of the monetary council is to pave the way for, or evolve into, the GCC Central Bank, which will be in charge of GCC unified monetary policy as well as “managing” the new currency. the monetary council will have an executive body to carry out the board’s instructions.The most likely scenario is that, first, the new currency will be used as a unit of accounting and, after a sufficient period of time, it will be introduced as a currency in circulation for exchange and trade. What does the monetary union mean to the participating countries? What difference will it make for ordinary citizens in the member countries?
There are several effects that will become apparent. In addition to the obvious fact that at some point there will be one currency instead of several — which will have great symbolic effect for the GCC as a whole — in concrete economic terms, the unified currency will reduce “transaction costs” of trade and exchange between member states. These include, among other things, fees currently charged for exchanging currencies between member states. Lowering of transaction costs would encourage trade in goods and services and benefit tourists as well. Judging from experiences of other regions, a unified currency could provide more price transparency by simplifying price comparisons across countries, which in turn helps consumers compare prices and probably influence a price reduction. There are of course other effects related to monetary and fiscal policies that are important, but these may not be immediately noticed by ordinary citizens. What are the sectors that will benefit the most from the monetary union, in your opinion, and which ones will benefit the least?Obviously, all economic sectors will be affected. However, those sectors engaged in intra-GCC trade, re-export, and tourism will be affected the most and will enjoy cost savings. Those sectors that do not engage in cross-border trade will be least affected. Do you expect both the UAE and Oman to join the monetary union in the near future?Everybody hopes that both the UAE and Oman will join the union in the near future. It benefits the GCC as a whole if all member states ascribe to the monetary union but these are of course sovereign decisions to be made by the two countries. It must be kept in mind that both countries are founding members of the GCC and totally committed to economic integration between its member states and both have always been among the keenest to implement GCC resolutions, speedily and effectively, in all areas of joint GCC work, such as the common market, customs union and all other areas of economic integration. that is exactly what the EU did ……not in 50 yrs …

By: Joseph

Joseph — Wed, 30 Dec 2009 09:16:18 +0000

Investment in building first-class hotels Finally, among the most active investment sectors in Iraq; especially after the security improvements experienced by most cities, not to mention the expansion of tourism, religious and archaeological sites, and most importantly of all is the need for this sector to the modern hotels; as the current hotels constitute only 40% of the total need.However, even this number has started to take on the decline, due to aging of first-class hotels that are no longer able to keep pace with global developments; Baghdad hotels will give you a clear idea of it on its way to retirement;, and their names back to the well-known international groups such as: “Sheraton” and “Melia,” and “International” and “Oberoi” does not apply and the deteriorating situation experienced by the hotels, and in making international companies seeking to win contracts to build hotels, and is confident in advance that it was pulling the rug out from under the feet of the existing hotels. The head of the Investment Authority, Iraq, announced earlier to grant company “General Midtrenyan – Royal Hotels Group global” investment license to build and manage a five-star tourist hotel and its appendages in Baghdad and $ 120 million; which represents an outstanding achievement at the level of investment, and reflects the significant improvements in security in Iraq was present. An official source in the form of investment, “said the tourism sector in Iraq is now among the most active sectors and the most attractive to domestic and foreign investment; went there to build large hotels, restaurants, malls, etc., and increased the volume of investment is the large number of tourist sites, two types of religious and archaeological sites.”Antiquities of Iraq “Most first-class hotels deployed in Baghdad and the provinces, such as: Mosul and Basra; owned sector mixed, although some ministries have a part of its shares and other shareholders, such as the al-Rashid Hotel – inside Baghdad’s Green Zone – which is owned by our ministry.” The Talqani that there are hotels in the cities of Karbala and Najaf, he was part of the devastation, such as: Peace Hotel during the 2003 war.The rest of the hotels it goes back to the private sector. He added that “in Karbala, 300 hotel, 168 hotels in Najaf, and Baghdad has 250 hotels, is the mainstay of these hotels is the hotel sector and receive the bulk of tourist arrivals for religious tourism, and that after the arrival of the first visitors for the purposes of archaeological tourism began investing in building hotels witnessed a remarkable boom in Karbala and Samarra, Basra, Dhi Qar and Maysan, Mosul, Baghdad and other cities in Iraq. the tourism minister held talks with broad Arab and foreign investors to build a first class hotel in Iraq, a private investment law helps to do so; any ownership of land held by the housing investment specifically.” “Iraq is suffering a deficit hotel up to more than 60% compared to the actual need for tourism and also the need for local, not to mention that the list does not meet the purpose; any service that the hotel late in our country when compared to the rest of the neighborhood, except for distinguished service in some provinces of Karbala and Najaf. “And on the possible return of international companies specialized management of hotels carrying brands, “There is a possibility to enter these companies, which distributed its investments in many countries are in need of new areas, and that Iraq is a timely opportunity to launch these companies in the recovery of their investments. Has been submitted by Iraq, many facilities, and really made some requests to invest in Iraq. “In the cities of a religious nature, such as: Karbala, Najaf, and the Kadhimiya has flowed to the capital of the Gulf and foreign large, and return most of its hotels to investors from Bahrain, Iran, Kuwait, and even from India, Pakistan and others, and hotel construction is currently among the most profitable sectors of the large visitor arrivals from all over the world. In this order ~ Their oil fields are secure & pumping, their currency revals & these unfathomably moronic, ultra-greedy hypocritical idiots quit blowing everything up & apart, WTF would want to vacation there? Ask the 110,000 foreign tourists who visited Iraq in the last 3 days.

By: Joseph

Joseph — Wed, 30 Dec 2009 09:15:59 +0000

Is the use of the Iraqi central bank auction style currency debate among a number of economists and characterized by different visions on the means used in the implementation of the monetary policy pursued by the Central Bank. Valjnah in favor of this method has several prerequisite for achieving economic stability in the value of the Iraqi dinar by defending the exchange rate equilibrium Which reflect the general level of prices and the consequent multiple targets with the view wing opposition to this approach as a way contributed to the expansion of currency smuggling, it is my view is correct? In this investigation can be extrapolated to the reader the facts and then the final arbiter on whether this approach any (Auction Rate) contributes to the achievement of economic stability or further undermined confidence in him?In a meeting with Director General of Banking Control in the Central Bank of Iraq said: In order to make it clear to the reader or recipient reasons for using an auction currency must offer several definitions and concepts, as well as economic realities experienced by the country. It would be useful – Idi confirms – that we know the exchange rate as a starting number of units of a certain currency is exchanged for one unit of another currency, a move known by or style can be translated by which all prices of (foreign language) to the local language.The importance of the exchange rate through its contribution to the achievement of macro-economic business objectives of achieving the overall goals of internal balance and external balance, where is the internal stability of domestic prices with a measure of economic growth.further that the external balance reflected on the balance of payments which is reflected through the convergence of Iraq’s revenues and exports of various kinds, as well as the adaptation of external payments with the volume of international trade and capital movements to and from Iraq.Based on the goals and new methods used by the Iraqi Central Bank in formulating and implementing monetary policy has been used auction bank currency requirement economically.about (96) billion dollars have been sold in the auction so 2009/9/30, 75% to cover the imports of the private sector and the remaining requirements of medical treatment, study and religious tourism. from the justification that has pushed for the use of currency as an auction style stressed: that the monetary policy of the Central Bank of Iraq has been able to stabilize its monetary system, and the face of a wave after the inflationary significant improvement in the Iraqi dinar exchange rate and a high percentage increased to 40% in value since 2004 as well as building a strong foreign currency reserves have led to building strong foundations in the maintenance of economic stability and the establishment of the external climate for starting investment, adding: that understanding the positive role played by the reference interest rate to restore confidence in Iraqi dinars and several attractive source of cash to keep the wealth that have reached their goals reduce the rates of annual core inflation, especially after the country plunged manifestations of the state and speculation and the development of alternatives to liquid source material assets, which led some of the functions of money being the repository of value and a tool for liquidity from outside money and monetary system …When you refer to sales of foreign currency for the month of January 2008, it was observed that such sales amounted to about 1700 million dollars, while sales of foreign currency during the three weeks of the month of January 2009 some 2200 million dollars and is expected to reach nearly $ 3000 million in total public 2009.The achievement of balance between the liabilities of the Central Bank of Iraq and assets of the new enhanced internal public debt at the expense of foreign exchange assets will leave an imbalance in the devaluation of the Iraqi dinar exchange rate and the degradation and the generation of inflationary pressures is justified do not help in all cases, the stability of economic activity and put the country at the same time to the inflationary crisis resulting from the sharp increase government spending to twice the resources of the fixed foreign currency in light of the foregoing, the central bank remains committed to achieving the goals set forth in its law, which is to reduce inflation and to maximize the purchasing power of the Iraqi dinar and the achievement of balance in the cash market and stressed that any activities of a default of the State may pass through what is available from the assets of foreign central bank is to issue contrary to the principles of macro-stability and sustainable growth the central bank has no way to dispose of those assets, but through the adoption of the swap cash in Iraqi dinars, not the promotion of government borrowing, so the front of the CBI appropriate means in this regard which can be adopted in order to take advantage of that country’s foreign reserves to support both the growth and development in the country, but through the open cash market operations, without prejudice to the principles of stability and according to the exchange mechanisms between the foreign currency and local currency away from the policies conducive to borrow from the bank Central, which is funding inflationary intersects with the objectives of monetary policy and the principles of achieving economic stability necessary for growth within the high autonomy, and concluded that the accumulation of international reserves of foreign central bank and building over the past years has been associated closely with the public finance to the Iraqi government and the growth of these materials back was the result of foreign currency swap and foreign currency exported from the Central Bank of Iraq in the interest of the general budget to be able to cover local expenses in Iraqi dinars.
…Based on the exchange has become a source of human offset by foreign currency liabilities in the general budget sheet of the Central Bank was able to achieve the goals of the Central Bank of three of the availability of foreign reserves or the Bank, which used as a tool to stabilize the Iraqi dinar exchange rate and the financing of private sector trade and the needs of foreign exchange through Auction foreign currency as well as providing a strong opportunity to monetary stability by controlling the levels of domestic liquidity brought about by the public finance through the government expenditures …The Central Bank of Iraq adviser to the foreign currency auction market continues to work the best performance and there is no failure in performance, and there are many rumors against the auction done trying to undermine the real central bank, and that there is some transactions have stood for it may be in the category of money laundering or financing of terrorism, or the issues contravention in accordance with regulations on financial transactions auction. By indicating that the financial market in the best Iraqi unchanged and the Iraqi dinar is very strong and the strength of rising foreign exchange reserves would be reflected on the positive performance to meet any crisis that may occur in the future, came from the active role played by the Central Bank of Iraq and his handling of the Iraqi monetary policy with the best image and effectiveness of high of performance. Emphasizes that the national currency will be to Atstqr and check the exchange rate naturally only through the most important of several indicators to be access to the rates of unemployment are acceptable manner and to provide an attractive operating environment for the Iraqi labor, and financial performance of the actor and the stability of financial markets in the volume of gross domestic product and the work of the real sectors , ie, the national currency must be assigned in real economic actions, then must operate infrastructure in an integrated manner to push forward the wheel of the real economy.the need for the balance of payments and the balance of trade was balanced so that there is convergence between the volume of imports and exports must be a balance between savings and employment size of monetary blocs to support and stimulate investment in order to move the wheel of reconstruction and economic revival. Also, the state budget must pass the situation of stability and without the deficit to mention and implement paragraphs are wonderful and measured in terms of actual performance of the finished levels, and should be spending the equivalent or comparable to the size, but income from, all of these factors does the value of the Iraqi dinar and achieve monetary stability in Iraq because it actors in a real and natural and will bring the desired value of the Iraqi dinar and access, but we can not continue to intervene through artificial Auction Central Bank of Iraq.He called central bank’s policy to build is far from constant and synthetic backing of the Iraqi dinar, because it hurts the economy of Iraq and would expose him to any crisis that may occur.But with the assistance and the mechanisms that stimulate the value of the Iraqi dinar and maintain its stability and must put an end to policies pursued in particular it has become a long-term.through a press statement that “the actions the central bank’s resolve regarding the Iraqi currency to reduce the mass and raise the exchange rate, leading to consequences for the Iraqi economy as a whole. That what the Central Bank attempts to raise the value of the dinar, changed the value of its reality in the market, which led to the depreciation of the oil resources resident dinars.And believed that this reflected negatively on increasing the proportion of the deficit, in addition to the growing phenomenon of economic rent, because the high value of the dinar led to a dependence on importing more industries, as it appears cheap imported goods for Iraqi consumers. despite the rise or stable oil prices, but the truth is that the economic cycle are completed outside the country, saying that the beneficiary of the rise of the Iraqi currency who are turning their profits at home, abroad, and not vice versa.the central bank sees inflation in Iraq, but the critical fact reflects the hypothesis is the fact that we have a real inflation stems from structural imbalance and lack of investment, which paid for the process of withdrawing cash to raise interest rates from it.to address the high price in Iraq for Atkmen through monetary remedies but by real action in the sense that there is a problem in the presentation does not address only through increased local production of financial and monetary stability that does not come through the exchange, but there must be spent on investment. And the alternatives available to the central bank policy adviser to Prime Minister says, it lies in adopting an expansionary fiscal policy supported by an expansionary monetary policy also to build infrastructure and promote development to the front, I do not think the economy needs to stabilize cash only as useful as the level of retarded development. “Frankly, we are with fixing the rate of national currency” Iraqi dinar “for two main reasons: We are a private sector put our plans on the basis of the annual stability of the national currency and the exchange rate for the year, for example, 2010 and 2011, and the second reason of economics notes powerful to find that the price of any currency exchange rate has not changed for many years and even decades, an economic giant like Japan, it as a result one of the key reasons is the exchange rate of the national currency of Japan.we find that the fixed exchange rate, which contributes to the Central Bank through the auction of the dollar makes us special as banks poised to build a road map for the next stage. Eight stable exchange rates mean we have the ability to measure the deposit rates, and how we work to stimulate the banking environment in Iraq.The fact must be noted that the CBI could during the past years to absorb the inflation in the Iraqi market and to maintain the price of imported materials, and I think that the central bank will follow to success after another, add to that the excellent performance in the management of foreign exchange reserves, which represents the real strength and cover a a catalyst for the Iraqi private sector to deal with the outside world.As for the chatter to the troubled auction, and recognizes the fact funding currencies, the central bank deals Balkash inside Iraq, and talk about the question marks do not exist because the continuous auction in the coverage of import by the private sector of consumer goods, although we note that the private sector contribute to the import, for example, 75% of the volume of food consumption in Iraq, and this is by opening the funds to finance the Iraqi trader in hard currency and the dollar against any merchant deposits in Iraqi dinars and an achievement in itself. Eight to talk about after the auction, to contribute to the smuggling of currency out of Iraq for no truth to him Valmzad may exceed the daily volume of $ 120 million or more, which is nothing against the assets of 30 million people, let alone the costs of rebuilding infrastructure consultancy studies also suggest that we need 45 – 50 billion dollars. the CBI started since October 4, 2003 Auction on management of foreign exchange and summarized the main objectives of this auction to help reduce excessive volatility in the exchange rate that may occur on a temporary basis and facilitate the development of functioning market for the purposes of two-way purchase and sales of foreign exchange as it is a tool for long-term control of the bank to cash and the impact on liquidity conditions and the exchange rate. the Iraqi economy after 2003 began to move away from nominal shocks, which was exposed during the years of siege by the vibrations that have occurred in the money market, which represented the independent variable in the relationship between them and the market for goods and services, as most of the shocks in the economy today is shocks comes from the real markets for goods and services, the fixed exchange rate becomes infeasible in practice, which makes the Iraqi dinar exchange rate which the central bank tries to defend the price is excessive and evidence that the central bank did not go to the auction buyer of foreign currency, only a few times He was a salesman for the past six years. result of the above separated the prices of goods and services on the Iraqi dinar exchange rate and therefore, the fixed exchange rate is no longer the only influential in the stability of prices, and that it be ensured if the observed rise in Iraqi dinar exchange rate of 1772 dinars / USD at the end of 2003 to 1217 KWD / USD at the end of 2009, while general price index, consumer prices for 8079 at the end of 2003 to 24326 at the end of 2009, which means that at a time when the exchange rate improved by 33% between 2003 and 2009 the index for consumer prices rose 150% for the same period and concluded by saying: Despite all that we have the fixed exchange rate by intervening in the daily auction of foreign currency is the most effective tools for current cash and this is due to the ineffectiveness of the rest of the tools of monetary policy due to problems in economic, security and tight financial market in Iraq which curtailed the ability of the monetary authority to use those tools, but the other hand, consider replacing the fixed exchange rate is a nominal Brkizp the other the next few years is something very important.The Central Bank of Iraq auction held five meetings a week starting from Sunday to Thursday for the sale and purchase of foreign currencies, and receive a cash commission on the sale of about 13 dinars per dollar, and receive a commission of three dinars per dollar on the sale of remittances outside the country.

By: Joseph

Joseph — Tue, 29 Dec 2009 02:37:16 +0000

the Iraqi government asked the U.S. side to interfere in the management of the security file to install the security and stability in the country, to develop security plans to prevent recurrence of the violence that hit the capital recently,
especially since the terms of the agreement it has struck the Maliki government with the U.S. administration, it gives the right to address the American side, to show some assistance in security issues. The source, who asked not to be named, “told the Iraqi press that” the American side condition of assuming the administration file of the Iraqi economy for his involvement security file. He added that Iraqi government has not determined until the moment of its latest U.S. request,
and is still studying the matter with its partners in the political process. the American side in the field of superior intelligence by its functional and logistics and information base on which the U.S. military sought to establish them ever since he entered Iraqi territory in March 2003, through the recruitment of some informants to secure the information we reveal hideouts of terrorists and their plans criminal».Does this mean what I think it means. U.S. control of the Iraq economy. If they do assume control of the economy what does this mean for the dinar? Does it change anything? Can anyone elaborate on this? It is also very interesting what is going on over in Iran. If
there is to be an RV in Iraq it would not happen until Iran falls. Can you imagine the economic boost that a RV would give the current Iranian government, they might be holding billions of dinars with their connections in Iraq. The U.S. assisted with thier security. The Military helped the GOI to equip, train and organize their security forces so they can be effective and successful.This was by invitation of the GOI.The GOI has ALSO requested U.S. assistance in developing thier economy.Assistance is NOT control. It’s simply experts brainstorming and advising the GOI what they can do to improve thier economy.They first need to start with laws, privatize state owned entities, reduce their social programs, and finally, eliminate corruption and the “good ole boy” network.They want capitalism’s success, but they don’t know how to get there.

By: Joseph

Joseph — Tue, 29 Dec 2009 02:36:55 +0000

Confirmed coalition Shell and Petronas of direct intention in developing the field Majnoon case of signing the contract in final form, as announced is not affected companies invested the political situation and security in the country.The Deputy Minister for oil extraction and export Abdul Karim Laibi through effective initialed a coalition with the “Shell – Petronas,” which took place at the Ministry yesterday: that the volume of primary production in the Majnoon field of 175 thousand barrels and up to the peak of production million and 800 thousand barrels per day . He explained that the Majnoon field in the province of Basra, which was run by the Southern Oil Company of the giant oil fields in the world and contains 11 ambush oil, declaring that the current and next two weeks will witness the signing of contracts initiated with the development of coalitions, which won seven oil fields out of ten fields offered within the The second licensing round. The contract was signed on the Iraqi side and the Deputy Director General of the Department contracts and licenses Abdul Mahdi al-Amidi, the Director of the Legal Section in the department, Dr. Sabah al-Saadi, was signed in a winning coalition, representative of the Dutch-British Shell Mounir Bouaziz and the representative of Malaysia’s Petronas is the color. The representative of Shell Munir Bouaziz happiness for signing the contract with the ministry, adding that his company is the first international companies in the oil sector, which entered Iraq for about a year and a half in Basra.And on direct work in the field and the impact of security and political situation of the company, said Bouaziz the “morning” that Shell will start its work immediately after signing the final contract, without saying how much money will be invested in the field, saying only that it billions of dollars. Promised the recent tension on the Fakkah field in the Maysan province of Iraq and Iran, it was an internal jurisdiction of the Iraqi government, stressing that the size of the turnout international companies in the second round of licensing and activities of the initial signatures of the contracts is not affected by evidence of corporate political situation and security in the country. For his part, denied the proxy Laibi what he described as “hype” that some of the throughput of the media that Iranian forces occupied the field of loose change, adding that specific problem the well number four from the field. He pointed out that the disagreement between the parties to this well-based for several years, noting that national professional staff began digging the well mentioned in the seventies the last century, and began production in 1979 and until 1980 before stopping by the Iran-Iraq war. He Laibi Maysan Oil Company has operations in 2007 lifting the debris from the well site in order to re-run, but she was harassment from the Iranian side, who claimed that the zone is within its territory, pointing out that the bilateral commission for the demarcation of the border look into this matter to be resolved through diplomatic channels. the “morning” that the contract which was signed initialed yesterday will not face obstacles in the way of ratification by the Board of Minister. He noted that the licensing contracts for the first round did not face obstacles because there are technical committees and legal contracts are reviewed prior to submission to the Council of Ministers, adding that after the council approved the contract the ministry will sign the final with the investing companies.And on statements made by some MPs and officials of the Organization of Petroleum Exporting Countries and other oil states will not allow Iraq to increase oil exports to 12 million barrels per day, after the conclusion of the second licensing round, “this issue is premature.He hinted that many countries would not welcome an increase of Iraq’s exports during the next six years, adding that those countries should take into account the war and the conditions through the country and its citizens for many years. He pointed out that any economic developments taking place in Iraq therefore will be reflected on the countries of the region, explaining It’s the right of Iraq to increase its exports to the country’s reconstruction and rehabilitation of infrastructure. while Jihad said he and Oil Minister Hussein al-Shahristani said to Angola to participate in the meetings of the Ministers of Petroleum Exporting Countries OPEC, which will last for two days to review the conditions of the global market and OECD member countries.He expressed his belief that he will keep the production ceiling by the Organization after the stability of world oil prices, especially as they began to increase gradually, indicating that preclude the need to increase or reduce the quantities that OPEC countries have promised to pump to world markets.Separately, the pipeline pumping oil from Kirkuk to the Turkish port of Ceyhan was the fourth time in the last three months of the acts of sabotage, noting that the line came under a bomb attack near the town of Sharqat north of Salahuddin Province. He explained that the duration of the process reform dating back to the size of the operation was to sabotage the pipeline. They should have done this years ago. Now they have taken their economy and banking system to the edge. Lets hope the money starts to flow quickly.If not there will be some banks going down